PM urged: ‘Put your foot down’ on BOB woes
Bank of the Bahamas was yesterday slammed for its latest failure to make timely disclosure to shareholders, having failed to provide the market with the outcome of its $40 million rights issue since it closed two months ago.
Capital access not guaranteed by end to exchange control
Bahamian businesses will not be guaranteed access to capital even if the financing pool is broadened by exchange control liberalisation, private sector representatives have warned.
Govt ‘run amok’ if PM unaware of $2.1bn proposal
The Democratic National Alliance’s (DNA) leader yesterday said Prime Minister Perry Christie was allowing his government “to run amok” if he had no knowledge of the $2.1 billion Chinese farming/fisheries proposal.
East GB cruise port is ‘cart before the horse’
A well-known QC yesterday accused the Christie administration of “putting the cart before the horse” over the $200 million agreement for Carnival Cruise lines to develop a port in east Grand Bahama, arguing that the location was “perverse” given Freeport’s economy is “near death”.
Bill opens FDI projects to Bahamas contractors
The Construction Contractors Bill paves the way for Bahamians to participate in foreign direct investment (FDI) projects “to a much greater extent than before”, a former Bahamian Contractors Association (BCA) president said yesterday.
$200m GB cruise port beneficial if ‘balanced’
East Grand Bahama’s MP said yesterday that the $200 million Carnival cruise port for his constituency will boost the economy, provided the deal is balanced and Bahamians are the net beneficiaries.
Blackbeard’s presence ‘contrary to rule of law’
A Bahamian QC says it “seems contrary to the rule of law” for the $12 million Blackbeard’s Cay project to still be operating more than 26 months after the Supreme Court quashed all its approvals.
Ex-BAIC chair’s son in Andros timber venture
South Abaco MP, Edison Key, yesterday confirmed his son is a principal in the company seeking an Andros timber harvesting license, saying governments were “damned if you do, damned if you don’t” in approving foreign joint ventures.
Sir Franklyn blasts anti-China ‘hysteria’
Sir Franklyn Wilson last night slammed the growing “anti-Chinese hysteria”, warning that it would prevent the Bahamas from achieving its desired development and job growth targets.
Unions, employers ‘not so far apart’ on labour reforms
The National Tripartite Council is set to resume negotiations over the proposed labour law reforms this Friday, one unionist saying yesterday: “We’re not as far apart as it appears.”
Govt approves $200m cruise port agreement
Prime Minister Perry Christie said yesterday that the Government has approved the agreement with Carnival Cruise Lines for east Grand Bahama’s $200 million cruise port.
Bran challenges FNM on Andros timber deal
The Democratic National Alliance’s (DNA) leader yesterday challenged the Official Opposition to pursue the latest ‘Chinese deal’ on Andros, given that one of its principals is an FNM MP’s son.
Govt moves forward on Contractors Bill
The Deputy Prime Minister yesterday said the Construction Contractors Bill provides an avenue for aggrieved consumers to seek reddress, while also licensing and registering all industry practitioners.
$7m sale impasse holds up Gulf Union closure
A frustrated purchaser has accused Gulf Union Bank (Bahamas) liquidators of repeatedly stalling the $7 million sale of its largest remaining asset - a charge they vehemently deny.
Port Dept’s $600k tug boat repairs are ‘exorbitant’
The Auditor General has urged the Port Department to assess alternative options for its tug boat fleet, branding the over $600,000 spent on repairs as “exorbitant” and not necessarily providing taxpayers with ‘value for money’.
