Baha Mar, Melia slam ‘unfathomable’ minister
The Melia Nassau Beach Resort last night indicated that the absence of a valid industrial agreement, coupled with recent court rulings, had emboldened it and given it a sound legal footing to stop deducting union dues from its employees’ salaries.
Fred’s investor message: ‘Bring money, shut up’
The Opposition’s deputy leader yesterday slammed Fred Mitchell for sending “a very clouded message” to foreign investors, one that said: “Bring your money, and shut up.”
Wrecked vehicle ban has ‘domino effect’
Bahamian auto body repairers yesterday said the Government’s decision to ban wrecked vehicle imports was already having “a domino effect” across the industry, with hundreds of thousands of dollars being ‘held up’ as a result.
Baha Mar dispute party accepts arbitrate offer
One of the four parties embroiled in the Baha Mar dispute has accepted the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) arbitration/mediation offer, provided the other three agree to the same.
Baha Mar granted Chapter 11 appeal
Baha Mar was yesterday granted leave to appeal Justice Ian Winder’s decision to deny recognition of its Chapter 11 bankruptcy proceedings in the United States.
Police summoned to probe Post Office Bank
The Government has summoned the Royal Bahamas Police Force (RBPF) to further investigate alleged fraud and other irregularities at the Post Office Savings Bank, with the Cabinet Minister responsible acknowledging the need for a “radical shift” in oversight.
Brewery offers $20m expansion for tax cut
The Bahamian Brewery & Beverage Company is seeking a reduction in export tax rates in return for a further $15-$20 million expansion that will create 60-70 additional jobs.
‘Merit’ to Baha Mar liquidator changes
A well-known accountant has backed the withdrawal of PricewaterhouseCoopers (PwC) as Baha Mar’s potential provisional liquidators, given that this nation’s handling of the $3.5 billion dispute must be perceived as beyond reproach.
Post Office Bank misused monies due to the Gov’t
The Post Office misused funds due to the Public Treasury to finance “excessive withdrawals” by customers of its Savings Bank, the Auditor-General has revealed.
Top developers eye $30m PI condo sales
Two of New Providence’s “busiest developers” are partnering on a Paradise Island condominium project that will generate almost $30 million in sales revenues once fully occupied.
Chinese backed on Baha Mar Chapter 11 dismissal bid
Baha Mar’s Chinese partners yesterday received backing from another creditor in their bid to dismiss the developer’s Chapter 11 case, on the grounds that it is now “virtually impossible” for the $3.5 billion project to re-organise under the Delaware court.
Cabinet to see fly fish oversight amendments
Suggested amendments to the proposed Fly Fishing regulations are being put in a draft for Cabinet’s consideration, the Minister of Agriculture and Marine Resources has confirmed.
Attorney ‘distraught’ over Freeport review openness
An ex-Grand Bahama Port Authority (GBPA) attorney was “distraught” after the Government’s withholding of a report by its international consultants left him unable to properly contribute to the debate on Freeport’s future.
Gray: Don’t confront the foreign poachers
The Minister of Agriculture and Marine Resources has backed the right of Bahamian fishermen to protect themselves, while urging them not to confront foreign poachers.
‘Tone of fraud’ at Post Office Bank
The Auditor-General this week warned of “an underlying tone of fraud” at the Post Office Savings Bank, with customers able to deposit and withdraw sums more than 100 times’ greater than legal limits.
