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Harborside staff see 11% industrial deal pay boost
SOME 92 workers at the Harbourside Resort at Atlantis will enjoy an 11 percent pay rise spread over the five-year term of a newly-signed industrial agreement, it was revealed yesterday.
FACE TO FACE: Fighting for the rights of fathers
Children who have a close relationship with their father are twice more likely to find stable employment or enter college after high school. They are 75 percent less likely to have a teen birth; 80 percent less likely to spend time in jail; and half as likely to experience multiple depression symptoms.
Contractor awarded $63,000 in multi-million Palm Cay fight
A major eastern New Providence development has been ordered to pay a former contractor $63,047 after an acrimonious battle involving competing claims over breaches of two multi-million building contracts.
FTX Bahamas: ‘Best deal to avoid asset extinction’
FTX’s Bahamian liquidators are asserting the settlement with their US adversary “represents the best deal” possible given that lengthy legal battles would slash creditor recoveries “possibly to extinction”.
FTX settlement ‘proves naysayers were wrong’
The FTX settlement shows The Bahamas has “beaten expectations” and “proven the doom and gloom naysayers wrong” over the crypto exchange’s collapse, a well-known businessman argued yesterday.
Commission asset turnover as part of FTX’s settlement
FTX Bahamas’ liquidators have agreed to use “commercially reasonable efforts” to ensure some $426m worth of digital assets held by the Securities Commission are transferred to their US counterparts.
Sam Bankman-Fried ‘wants to be heard’ in FTX Bahamas wind-up
FTX’s founder says he “wishes to be heard” at today’s Supreme Court hearing on the winding-up petition intended to place the crypto exchange’s Bahamian subsidiary into full liquidation.
WORLD VIEW: UN action needed urgently to end Israel-Hamas violence
THE attack by Hamas on civilians in Southern Israel on 7 October 2023 was as stupid as it was cruel, brutal and inhuman.
‘Happy to be rid’ of ex-Robin Hood site
Compass Point’s last owner is voicing optimism that the sale of the former Robin Hood store on Prince Charles Drive will close before year-end after the property was plagued by vandalism, vagrants and copper theft.
Atlantis sale to ‘bring stability’
Hotel union president Darrin Woods said Brookfield Asset Management selling the Atlantis Paradise Island resort to a reputable hotel chain would “bring stability,” to the property.
Freeport hotelier backs Gov’ts push for change
A hotel operator has backed the Government’s Grand Bahama Port Authority (GBPA) stance as evidence of its “commitment to Freeport”, and asked: “When was the last time the Port Authority did a major investment?”
Raising ‘Freeport out of the ashes’
The Government and Grand Bahama Port Authority’s (GBPA) owners were yesterday warned the latter’s 3,000 licensees must “have a say” over any changes to its ownership and Freeport’s founding treaty.
PETER YOUNG: Can new immigration law in Britain ‘stop the boats’?
HAVING written last March about the unveiling by British Prime Minister Rishi Sunak of new proposed legislation to deal with illegal immigration, it seems timely today to revert to the subject now that the Bill has become law.
WORLD VIEW: Caribbean’s role as a voice of reason in a fractured OAS
On May 31, the Organization of American States (OAS) faced a prolonged and contentious debate that lasted from 2:30 in the afternoon until well past midnight. This episode, marked by acrimony and political undercurrents, which was webcast publicly and instantly to the world, is likely to be revisited during the upcoming OAS General Assembly from June 21 to 23 in Washington, D.C., the headquarters of the OAS.
Heroic $6.2m investment creates 70 concrete jobs
A Grand Bahama businesswoman is investing $6.2m in a concrete plant operation that will create up to 70 jobs over the next 12 months as it “ramps up” to full operations following its April 22 ground-breaking.
Bahamas saves 25% of FTX assets from ‘dumpster fire’
FTX’s implosion was yesterday branded a “dumpster fire” as it was revealed that 25 percent of recovered international digital assets are in the Bahamian Securities Commission’s safekeeping.
FTX CEO’S ATTACKS ON BAHAMAS ‘MISGUIDED’: Attorney General hails regulator for ‘proper’ measures
FTX’s US chief has admitted his attacks on The Bahamas’ integrity were “misguided” by agreeing to work with the failed crypto exchange’s local liquidators, the Attorney General argued last night.
FTX’s Bahamian customers financed SBF’s $546m deal
FTX’s Bahamian subsidiary, and its customers/investors, were yesterday said to have unwittingly helped finance a $546m investment by Sam Bankman-Fried that has now been seized by US federal authorities.
FTX US chief ‘in contempt’ over Bahamian court order
The Securities Commission’s top executive has accused FTX’s US chief of being “in contempt” of the Supreme Court by blocking access to the collapsed crypto exchange’s cloud-stored system and digital assets.
INTERNATIONAL NEWS: UK's Prime Minister Liz Truss resigns
LONDON (AP) — British Prime Minister Liz Truss resigned Thursday — bowing to the inevitable after a tumultuous, short-lived term in which her policies triggered turmoil in financial markets and a rebellion in her party that obliterated her authority.
