Sir Jack tells QC: Put money where mouth is
A key Grand Bahama Port Authority (GBPA) shareholder yesterday urged an outspoken QC to ‘put his money where his mouth is’ and find a buyer for the quasi-governmental entity.
Nassau world’s 5th most expensive city for hotel vacations
Nassau’s was yesterday ranked as the fifth most expensive city in the world for hotel accommodation, a finding that will further raise concern that this nation is slowly pricing itself out of the global tourism market.
‘The s*** has hit the fan’
The Bahamian economy is paying the price for the Government’s “financial disasters” in attempting to run businesses, a leading executive blasting yesterday: “The s* has hit the fan.”
Broker blames SEC battle on regulator’s ‘inaction’
A Bahamian broker/dealer has blamed the Securities Commission’s “inaction” for creating its dispute with US regulators over their document production demands.
Ex-minister files suit against BREA
A former PLP Cabinet Minister yesterday confirmed he had instructed his attorney to proceed with legal action against the Bahamas Real Estate Association (BREA) for publicly naming him among 70 realtors who had allegedly failed to pay their annual licence fees.
Shareholder outrage over ‘no change’ BOB
Bank of the Bahamas shareholders yesterday reacted with outrage over the decision to nominate the existing Board of Directors for re-election, one demanding: “Where does the buck stop?”
Leading importers face ‘major’ VAT uncertainty
Major importers were yesterday said to be facing “major” uncertainty over how Customs will calculate duty rates post-January 1, a factor that is preventing them from making essential computer system adjustments.
QC demands new Port ownership
A well-known QC has called for new ownership and management at the Grand Bahama Port Authority (GBPA), arguing that this is a major reason for Freeport’s “listlessness”.
Broker ‘in peril’ if it meets US demands
A Bahamian broker/dealer will “act at its peril” should it comply with US federal regulators’ demands to produce thousands of documents relevant to their ongoing New York legal battle.
RoyalFidelity predicts ‘double digit millions’ for new fund
RoyalFidelity believes its latest mutual fund will attract “double digit millions” from Bahamian investors through its promise to pay them a 4 per cent annual dividend.
Gov’t urged: Don’t lose momentum on ‘sole tax panacea’
The Government has been urged to set a date for the Central Revenue Agency’s (CRA) creation, the Tax Coalition’s chair fearing that momentum on a tax compliance “panacea” may be lost.
QC ‘awaits orders’ on Blackbeard’s Cay enforcement
A well-known QC is awaiting instructions from his environmental activist clients over how to enforce the judgment they obtained against the $8 million Blackbeard’s Cay project.
$200m capital markets game changer for Gov’t
The Government’s decision to place $200 million worth of debt through local broker/dealers was yesterday described as an “extraordinarily large step” in modernising the Bahamian capital markets.
FINCO’s $22m ‘warning’ affirms mortgage crisis
FINCO’s $22 million provision warning was yesterday seen as a further sign that the Bahamas’ mortgage crisis is “deteriorating”, a leading businessman suggesting its announcement “may not be the end” of the sector’s woes.
BOB in $18.6m SPV ‘solution’ two years ago
Bank of the Bahamas was eyeing a Bahamas Resolve-type solution to its ‘bad loan’ woes two years ago, having moved to transfer assets securing $18.6 million worth of troubled credit to an ‘off balance sheet’ vehicle in late 2012.
