Baha Mar Heads show ‘Bahamians paying for deal’
Opposition politicians yesterday argued that Baha Mar’s newly-released Heads of Agreement confirms “the Bahamian people are the ones paying for this deal”, and the $101.5 million creditor payout, via tax breaks granted to the project’s new owner.
Fears over Baha Mar infrastructure costs
Fears were raised last night that the Government’s Heads of Agreement with Baha Mar’s new owner may have exposed taxpayers to a multi-million dollar infrastructure bill, after it waived obligations imposed on the original developer.
Exuma ‘deserted island’, says $100m Fyre Fest lawsuit
The negative Fyre Festival fall-out intensified yesterday as a Hollywood celebrity attorney described Exuma as a “dangerous, deserted island” in a lawsuit seeking $100 million in damages from the organisers.
Minister confirms two landfill bids
Two bids have been submitted for the New Providence landfill’s management and remediation, Tribune Business understands.
Carnival bands suffer ‘dismal’ costume sales
Junkanoo Carnival band owners yesterday said 2017 may be the “toughest year yet’, blaming the postponement debacle and pre-election politics for “dismal” costume sales.
QC slams Blackbeard’s Cay’s ‘perverse conduct’
The Blackbeard’s Cay developer has been accused of “perverse conduct”, and exploiting the Bahamian legal system to prevent enforcement of a near three year-old ruling to shut down its $12 million project.
D’Aguilar blasts new tax evasion claims as ‘lies’
DIONISIO D’Aguilar yesterday slammed fresh attempts to smear him as “lies, half truths and utter distortions”, following claims his Superwash business deliberately under-valued a shipment of imported washers by $100,000.
Baha Mar ‘asset transfers’ VAT and duty free
THE two ‘asset transfers’ necessary to effect Baha Mar’s sale to Chow Tai Fook Enterprises (CTFE) were “exempt from all relevant taxes”, including VAT and Stamp Duty, with the $4.2 billion project’s completion also escaping the 7.5 per cent levy until end-2019.
Chamber chief: Get financial guarantees from event organisers
THE Bahamas must prevent future Fyre Festival-type debacles by demanding that event organisers post up-front financial guarantees, the Exuma Chamber of Commerce’s president is urging.
Bahamas ‘can withstand’ Fyre Festival’s fall-out
THE Minister of Tourism has expressed optimism that “the Bahamas’ brand will withstand any negative fallout” from the Fyre Festival debacle, amid increasing questions over how much his ministry knew before disaster struck.
Gov’t commits to year end landfill resolution
THE Government has committed to resolving the New Providence landfill’s woes by year-end December 2017 as part of its Heads of Agreement with Baha Mar’s new owner.
New pizza franchise targets four Nassau sites
THE Bahamian franchisee for Little Caesars Pizza is targeting as many as four Nassau restaurants, after investing nearly $500,000 in the first outlet, which will create 30 jobs.
RoyalStar: 15% of profits from ‘bad mortgage’ link
RoyalStar is aiming to “diversify” by building a closer relationship with its mortgage restructuring affiliate, its top executive yesterday revealing this will generate 10-15 per cent of its profits within the next three years.
‘Disconnect’ over NHI doctor sign-up
The Medical Association of the Bahamas (MAB) was yesterday seeking to clarify which doctors have signed on for the National Health Insurance (NHI) scheme, its president saying “some type of misrepresentation is going on”.
Low growth causes ‘major brain drain’
The Bahamian economy’s inability to grow over the last four years is exacerbating the “brain drain” of this nation’s brightest minds and talents, the Democratic National Alliance’s (DNA) leader warned yesterday.
