Sarkis: Am I the ‘stalking horse’?
Sarkis Izmirlian yesterday slammed the “astounding” praise lavished by Baha Mar’s receivers on the project’s contractor, and questioned whether his bid was being used as “a stalking horse” to ultimately justify rejecting all offers for the property.
‘Fait accompli’ fear on Abaco Club project
Environmental activists fear a proposed marina facility at the heart of the Bahamas’ “only carbon-free community” is being treated as “a fait accompli”, forcing them to initiate another legal action.
Cruise lines eye $500m Bahamas investments
The Minister of Tourism yesterday said the major cruise lines “without question” remain committed to the Bahamas, with the industry preparing more than $500 million worth of investments for this destination over the next two years.
Inactive account owners face 60% reclaim time cut
The Central Bank is proposing to slash by 60 per cent the time allowed for owners of some $86 million in inactive accounts to claim their funds, as it moves “more in line” with global standards.
PM: ‘No interest in coercion’ on GBPA
The Prime Minister yesterday said he had “no interest” in forcing out the Grand Bahama Port Authority’s (GBPA) existing shareholders, but emphasised that Freeport and the wider Bahamas “can’t wait” for growth-inducing change.
BTC hit by near 30% mobile revenue fall
The Bahamas Telecommunications Company (BTC) suffered an almost 30 per cent year-over-year reduction in its mobile revenues, which is blamed on falling subscriber numbers and the increasing use of Over The Top (OTT) applications,
‘Final’ web shop licenses next month
‘Final’ web shop licences could be issued next month, the Minister of Tourism said yesterday.
BEC’s $56m ‘disadvantage’ fear over injunction bid
BEC has warned that New Providence will suffer “severe economic and social consequences” if activists succeed in obtaining an injunction against the power plant supplying 50 per cent of its energy needs.
Bran: Economy ‘hanging on by a thread’
The Democratic National Alliance’s (DNA) leader says the Bahamian economy is “hanging on by a thread”, after official statistics effectively confirmed it has been in recession for two years.
Bahamas’ tourism costs 50% higher than near rivals
The Bahamas has been urged by the International Monetary Fund (IMF) to reduce its tourism industry costs, which are 50 per cent higher than Cuba and some Central American destinations.
BEC: ‘Aggressive measures’ taken on Clifton spills
BEC has pledged that “aggressive measures” are being taken to combat oil pollution at Clifton Pier, with the Government promising a further $10 million to supplement the $900,000 it spends annually now.
GDP data ‘contrary’ to IMF, agency stats
The ‘negative’ real GDP growth data published by the Department of Statistics is “contrary” to previous IMF and rating agency estimates, the Chamber of Commerce’s chairman said yesterday.
Sarkis: Baha Mar bid from me ‘impossible’
Sarkis Izmirlian fears it is “impossible” for him to enter the Baha Mar bidding process because its ‘rules’ may expose him to litigation and “contaminate” his claims against the project’s Chinese contractor.
Bran: General Orders aiding wrongdoing
The Democratic National Alliance’s (DNA) leader yesterday called for urgent reform of the regulations governing the public service, arguing that they currently “facilitate” corruption such as that exposed at the Department of Social Services.
Bahamas broker owner negotiates settlement, plea over $17m ‘fraud’
The owner of a Bahamas-based brokerage has reached “a settlement in principle” with US federal regulators over allegations that he played a key role in a $17 million financial fraud.
