Chamber chief slams Nygard/Save the Bays claims as ‘disgraceful’
A senior private executive yesterday branded the allegations swirling around the Peter Nygard/Save the Bays battle as “disgraceful”, and warned that the Bahamas’ reputation was now at stake.
$10m BDR cap rise for broker/dealers
The Central Bank is preparing to increase the sum granted to local broker/dealers for investments outside the Bahamas by $10 million per annum as part of further exchange control liberalisation.
Freeport ‘FLIPs’ over mega hardware store
Freeport business owners fear they will be “wiped out” by a new mega hardware store that is allegedly owned by the Grand Bahama Port Authority’s (GBPA) new foreign partners.
BREA hails ‘great day’ in court fight with ex-Minister
The Bahamas Real Estate Association’s (BREA) president has pledged to “aggressively push” for changes to the industry’s governing law, following last week’s court “victory” over an ex-Cabinet minister.
Insurer ‘re-lends’ $15m to offshore bank affiliate
BISX-listed Colina Holdings has taken a $15 million credit facility from FirstCaribbean International Bank (Bahamas) and re-lent it - on the same terms and conditions - to its offshore bank affiliate.
‘Transformational shot’ from new industry park
Freeport’s economy will receive “a transformational shot in the arm” from a 300-acre light industrial park venture, which will see an $18 million first phase investment.
Bahamians urged: Shake off ‘apathy’ on bad governance
A newly-formed civil society organisation is urging Bahamians to shake-off their “apathy” and demand the governance reforms essential for this nation’s long-term prosperity.
Grand Lucayan outcome vital for GB tourism sector
A swift conclusion to the Grand Lucayan resort’s sales process is critical to maintaining travel industry confidence in Grand Bahama, a senior tourism executive believes.
Nygard/Baha Mar headlines damaging financial services
A Bahamian financial services practitioner has warned that episodes such as Baha Mar’s bankruptcy collapse and the Peter Nygard/Louis Bacon controversy must be avoided if the industry is to prosper.
GB Chamber chief: ‘Selectively open Immigration gates’
Grand Bahama needs 20,000-30,00 extra residents immediately to sustain its economy, its Chamber president urging the Bahamas to “selectively open the Immigration gates”.
Creditors seek $1.1m Dingman default verdict
Bahamian creditors abandoned by Jamie Dingman’s failed Nassau restaurant empire this week urged a New York federal court to grant a $1.113 million default judgment in their favour, after no defence was filed against their claim.
Web shops urged: Recognise GBPA license authority
The Grand Bahama Port Authority (GBPA) was yesterday said to desire an amicable resolution of its legal disputes with two web shop chains, provided they recognise its “jurisdiction as the sole licensing authority for Freeport”.
PM slams strike threat at Grand Lucayan hotel
PRIME Minister Perry Christie yesterday slammed trade unionists for threatening an imminent strike at Freeport’s Grand Lucayan resort, arguing that such action “makes no sense” if the workers’ best interest was their priority.
PhamChem: $120m expansion to double Bahamian jobs
PharmaChem Technologies will break ground at month’s end on a $120 million expansion that will double the Bahamian workforce and increase the plant’s output value by 67 per cent.
PM ‘20-30 years’ too late on legal opening demand
The Prime Minister’s call for the Bar Association to ‘open up’ to specialised foreign attorneys is 20-30 years past its sell-by date, a Bahamian financial services practitioner said yesterday.
