Economy ‘strain’ with 27% of Bahamians over 60 by 2050
The Bahamian economy and social safety net are set to come under growing “strain” as a result of an increasingly elderly population where more than in four citizens are aged over 60 years old come 2050.
CCA files in US for bankruptcy
TWO Nassau resorts, and their Bahamian holding entities, are not caught by yesterday’s “last resort” bid from Baha Mar’s contractor to protect its US arm from Sarkis Izmirlian’s “crippling” $1.6bn damages win.
Protecting casinos against financial crime exploitation
Casinos are high-risk institutions when it comes to exploitation by money launderers due to the volume of cash transactions, their global clientele, and the ease of blending legitimate funds with illicit proceeds.
Controversial cemetery proposal is dismissed
A SIX-YEAR battle over a controversial 13-acre cemetery proposed for Bernard Road has resulted in the developer’s application being dismissed by the planning authorities.
Balmoral’s $25m hotel appeal ruling labelled ‘win-win’
THE Balmoral Club’s president yesterday hailed the planning appeals Board’s decision to overturn rejection of its $25m condo hotel as “a win-win” for both developer and the community.
Bahamasair sick-out ‘couldn’t have been worse’ for its timing
The industrial action that yesterday grounded Bahamasair’s entire fleet “couldn’t have been worse” timed, tourism operators warned, with hundreds of visitors and Bahamians left stranded in the peak travel season.
‘Notable’ corruption surge amid $250m drug seizures
Domestic financial crime threats are “broadening” and “represent substantial areas of concern” after $250m worth of illegal drugs were seized in The Bahamas during the six-year period through 2022.
‘High risk’ clients own over 25% of Bahamas’ accounts
More than one-quarter of all bank accounts held by Bahamas-domiciled international banks and trust companies were beneficially owned by “high risk” clients at year-end 2022, it has been revealed.
Fossil fuel phase-out pact raises oil drilling ban hope
Environmental activists yesterday voiced optimism that the threat of further oil exploration and drilling in this nation’s territorial waters has ceased after The Bahamas joined a pact to phase-out fossil fuel use.
Bay St hotels liquidation threat as court denies CCA appeal
Two major Nassau resorts yesterday faced the renewed threat of liquidation proceedings after a New York court rejected their owner's bid to prevent Sarkis Izmirlian enforcing a $1.642bn damages award.
300-acre Long Island battle delayed to 2025
The Supreme Court trial to determine ownership of more than 300 acres on Long Island, which a blind Bahamian alleges he was deceived into signing away for a pittance, has been pushed back to January 2025.
Union leader slams ‘atrocious’ handling of bi-monthly wages
A union leader yesterday slammed the Government’s handling of proposed bi-monthly pay for public servants as “atrocious” after seemingly cutting out key employee representatives from the talks.
Airport ‘void’ for 90% of Eleuthera’s investments
Rock Sound airport represents a “void” that needs to be filled given that most major investment projects are happening in Eleuthera’s south, the island’s Chamber of Commerce president warned yesterday.
Former BEC union chief loses $2.6m damage bid
A former Bahamas Electricity Corporation (BEC) union leader has failed to increase the damages and compensation payout for his wrongful dismissal over 20 years ago to almost $2.6m.
Bimini shrugs off rise in Flamingo Air’s prices
Bimini businesses yesterday shrugged off Flamingo Air’s increase in ticket prices to the island as commerce is “booming” and there are multiple other transportation means available.
