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PM dismisses fears GBPA battle will ruin investment
The Prime Minister yesterday dismissed concerns that the escalating battle with the Grand Bahama Port Authority (GBPA) over the Government’s $357m payment demand will ruin investor confidence.
PM dismisses concern GBPA dispute will undermine investor confidence
PRIME Minister Philip “Brave” Davis dismissed concerns that the government’s dispute with the Grand Bahama Port Authority (GBPA) undermines investor confidence and suggested that investors already lacked interest in the island.
DPM: Bahamians will gain Royal Caribbean PI shares
The deputy prime minister yesterday clarified that, while details are still being worked out, the Government plans to offer equity ownership in Royal Caribbean’s Paradise Island project to Bahamian investors.
GB medical school’s $25m expansion to give 200 jobs
A Grand Bahama medical school says its imminent $25m expansion will create 200 construction jobs as it dismissed a legal battle with its co-founder as “a distraction”.
No investor ‘eyebrows raised’ on GBPA fight
The Prime Minister last night said investors with projects worth hundreds of millions of dollars in Grand Bahama have not “even raised an eyebrow” over the Grand Bahama Port Authority (GBPA) dispute.
Sarkis wins bid to take Baha Mar fraud claim to trial
SARKIS Izmirlian’s $2.25bn fraud and breach of contract claim against Baha Mar’s Chinese contractor was yesterday cleared to proceed to full trial before a New York court this August.
GBPA seeks to reassure on ‘unfortunate public noise’
The Grand Bahama Port Authority (GBPA) last night moved to reassure its licensees and potential investors over “the very unfortunate public noise” created by its $357m dispute with the Government.
$100m ‘dream team’ pitched as GBPA confrontation alternative
A LONG-STANDING Freeport licensee yesterday unveiled a $100m investor and management “dream team” alternative to the Government’s “ugly confrontation” with the Grand Bahama Port Authority (GBPA).
‘Folly’ to release PwC’s $357m GBPA research
A Cabinet minister yesterday asserted it would be “folly” for the Government to disclose evidence showing how the $357m payment demand issued to the Grand Bahama Port Authority (GBPA) was calculated.
Minister targeting new Expo to bring Grand Bahamians home
A Cabinet minister has asserted that Freeport and Grand Bahama’s wider economy are on the rebound as “investor confidence continues to grow” and former residents return home.
Royal Caribbean to start PI site clearance
Royal Caribbean yesterday confirmed it is “right at the cusp” and aiming to begin site clearance for its $100m Paradise Island beach club this week with a Heads of Agreement signing “very close”.
Concerns over Bill on electricity
Kindly permit me to publicly express my views on the Electricity Bill, 2024, which would permit Bahamas Power and Light (BPL), or any electricity supplier, to set their own tariff rates for three years without approval from the Utilities Regulation & Competition Authority (URCA).
PM told: Wear ‘game hat’ for GB business meeting
The Prime Minister is being urged to wear his “game hat” for tonight’s Freeport meeting with a business community eager to learn how the $357m demand of the Grand Bahama Port Authority was calculated.
Ex-minister backs government over BPL private partnership deal
A FORMER Cabinet minister yesterday backed the Davis administration’s efforts to secure outside investor capital and expertise for Bahamas Power & Light (BPL) via a public- private partnership (PPP) model.
Ex-MP slams the Gov’t for $357m GBPA ‘shakedown’
A former MP yesterday slammed the Government’s demand that the Grand Bahama Port Authority (GBPA) pay it $357m as “a shakedown”, and questioned if the former is “either broke or desperate”.
‘Keep faucet open’ govt urged as real estate triples
The Government was yesterday urged to “keep the faucet open”, and not tinker with real estate taxes and regulation in the upcoming Budget, as contracted property sales more than tripled year-over-year.
Fund manager to be ‘little more defensive’
A Bahamian investment bank plans to be “a little more defensive” in 2024 with its stock picks as it targets close to $20m annual asset growth in its main equities investment fund.
DPM: Eleuthera airport woe ‘completely embarrassing’
The deputy prime minister has admitted that North Eleuthera airport’s present woes are “completely embarrassing” even though the island posted a monthly visitor record for February 2024.
ACTIVTRADES: Mixed results in earnings season
The earnings season in the US continued last week and, once again, had its winners and losers. On Friday last week, labour market data in the US came in worse than expected. The US economy created significantly fewer jobs than expected in April, and the unemployment rate rose slightly. In addition, wage growth surprisingly slowed somewhat. And the ISM Index was also disappointing, as the numbers showed on Friday.
PM: Break ‘scare tactics’ to hold GBPA accountable
The Prime Minister last night urged the private sector to break free of the “scare tactics” employed whenever the Government demands the Grand Bahama Port Authority (GBPA) “live up to its obligations”.
