Union chief slams Govt over Sandals ‘deception’
A trade union leader yesterday slammed the Christie administration for what he described as its “deception” towards workers, after the Attorney General had directed that the criminal case against Sandals Royal Bahamian and its top executives be discontinued.
Potter’s Cay upgrades: Bahamians deserve it
The Minister of Agriculture and Marine Resources yesterday brushed off criticism over the four-fold increase in costs for the Potters Cay upgrade, arguing: “The Bahamian people deserve the best.”
Govt seeking $20m for UBS House buy
The Government has been seeking to finance its impending acquisition of UBS House via a $20 million bond issue to Bahamian investors, Tribune Business can reveal.
Bahamas urged: ‘Avoid’ EU blacklisting threat
The Bahamas was yesterday urged to take all necessary measures to “avoid” being placed on a European Union (EU) financial services ‘blacklist’, after this nation received two ‘red flag warning’ scores.
CCA’s $65k counter over Baha Mar work
Baha Mar’s major contractor has launched a $65,000 damages counter-claim against one of its former US sub-contractors, alleging that it failed to perform on two contracts relating to the project’s convention centre.
Hollywood demands ‘severe penalties’ for Bahamian hacker
Hollywood is demanding that “severe criminal penalties” be imposed against Bahamian ‘celebrity hacker’, Alonzo Knowles, when he is sentenced by the southern New York federal court on September 30.
Receivers deny Fosun is Baha Mar’s buyer
Baha Mar’s receivers yesterday denied that the Chinese-based Fosun Group had been selected as the preferred bidder for the $3.5 billion project.
Gray told to back up BAMSI claims
The Opposition’s deputy leader yesterday challenged the Minister of Agriculture and Marine Resources to “substantiate” his claim that BAMSI has reduced the Bahamas’ food import bill by $100 million or otherwise resign.
Government debt issuing shake-up
The Central Bank has regained the lead role in the issuance of domestic Government debt, amid plans for “important modernisations” in how it is priced and investor ownership tracked.
Racing to issue $30m bonds for CLICO payout
The Government and its financial advisers are racing to implement the second phase of the CLICO (Bahamas)payout by the promised end-September deadline, even though some policyholders are reluctant to accept the bonds that will be offered.
Attorney’s $100k Fidelity Bank theft ‘a sad case’
The Appeal Court’s president has branded the two-year prison sentence for a veteran attorney, who stole $100,000 from Fidelity Bank (Bahamas) in a mortgage transaction, as “indeed a sad case”.
Baha Mar payout process ‘bodes ill for future FDI’
The Baha Mar creditor payout process “bodes ill for the Bahamian economy’s future” because it discriminates against foreign investors and businesses, an outspoken QC has warned.
‘How the hell’ can taxpayers receive Potter’s Cay return?
Opposition politicians are questioning “how the hell” the budget for Potter’s Cay’s upgrade has increased four-fold, while expressing concerns over whether Bahamian taxpayers will get a return on their investment (ROI).
Blackbeard’s developer in ‘court abuse’ claim
Environmental activists have accused the $12 million Blackbeard’s Cay developer of “an abuse of court” by initiating a separate legal action to block the Supreme Court verdict requiring the project’s closure.
Baha Mar staff told: ‘Take it or leave it’
Baha Mar’s 2,000-plus former employees have been bluntly informed that their end-September payouts will be made on a “take it or leave it basis”, with little room for them to dispute the compensation offered.
