Sarkis ‘I’d have saved’ $500m if CCA told truth
BAHA Mar’s original developer would not have spent $500m on preparing for the failed March 2015 opening if he “had known the truth” that its main contractor was about to bust the deadline.
‘Remarkably favourable’ multi billion gain for FTX creditors
FTX’s Bahamian liquidators are asserting that the failed crypto exchange’s creditors and customers will enjoy “a remarkably favourable outcome” via a multi-billion interest gain while recovering all their principal.
CCA: Baha Mar fail ‘inevitable’ even if we met open deadline
BAHA Mar’s main contractor is alleging the project’s “insolvency was inevitable” even if the original March 27, 2015, opening deadline was met due to inadequate revenues and inability to access “key money”.
Sands challenges Gov’t over ‘cooking the books’ on deficit
THE Free National Movement’s (FNM) chairman yesterday challenged whether the Government “cooked the books” to bring last fiscal year’s deficit in close to its original $131.1m target.
Solution is ‘on the horizon’ for Company Registry woe
FINANCIAL services providers and corporate Bahamas were yesterday promised that resolution of payment “back-logs” and other woes with the new online Companies Registry portal is “on the horizon”.
Preacher’s Kid relocation ‘smart business decision’
A BAHAMIAN chef yesterday described the closure of his Nassau Cruise Port restaurant as “a smart business decision” while confirming all 24 staff have received “generous severance packages”.
Bahamas to school Trinidad in tourism crisis management
TRINIDAD & Tobago is set to receive lessons in “crisis management best practices” from The Bahamas so it can better protect its own tourism industry and ensure its sustainability.
$40m Exuma project to dredge 240k cubic yards over marinas
THE $40m Rosewood Sampson Cay project plans to dredge almost 240,000 cubic yards of fill to create two marinas for a development set to cover most of the island’s 124 acres when completed in 2031.
Bahamian promoted to Albany executive chef
ALBANY yesterday said it has promoted Bahamian employee, D’Angelo Charlton, to executive chef.
Sandals confirms Emerald Bay staff deployed to other resorts
SANDALS yesterday confirmed that some of the 425 staff impacted by its Emerald Bay property’s closure have already been redeployed to its Nassau and Turks & Caicos resorts.
Coke maker won’t ‘knee jerk’ on 20% BPL hike
Coca-Cola’s Bahamian manufacturer yesterday pledged there will be “no knee jerk reaction” on consumer prices to “considerable” energy cost hikes “in the ball park” of around 20 percent.
Gov’t slashes deficit 65% despite VAT’s undershoot
The Government yesterday revealed that it slashed its fiscal deficit by two-thirds to come in just $55.6m outside its 2023-2024 full-year target despite a 15 percent undershoot on VAT revenues.
Aquapure eyes output doubling to put 2023 ‘nightmare’ behind it
A Bahamian bottled water supplier yesterday said a “significant” investment in new machinery will enable it to double output of key product lines and further put summer 2023’s “nightmare” behind it.
AML’s ‘first big win’ with $5m stock cut
AML Foods has scored a “first big win” through the efficiency and liquidity gains created from the $5m cut in its inventory levels, its president and chief executive has revealed.
National debt drops by $200m in June quarter
The Bahamas’ national debt fell by more than $200m during the three months to end-June 2024 as total repayments exceeded new borrowings by the Government.
