US drug corruption charges raise Bahamian travel fears
Aviation operators yesterday warned the drug and corruption-related charges levied against law enforcement officials and others could harm the ability of Bahamians to travel with “our national security now at stake”.
Water Corp targeted 10% rate hikes before PM’s intervention
The Water & Sewerage Corporation had wanted to raise rates for thousands of households via annual increases of up to 10 percent for three successive years before being blocked by the Prime Minister.
Commission’s $221.6m set to rank behind FTX victims
The Securities Commission’s top executive yesterday confirmed it is in talks for its $221.55m claim to rank behind FTX’s clients and other victims in the creditor payout queue.
Legal threats to $30m in FTX property sales
Legal threats have slowed the sale of around $30m worth of Bahamian real estate that was acquired by the collapsed FTX crypto exchange’s property affiliate, it has been revealed.
‘Any hope thwarted’ for Resorts World’s revival
Resorts World Bimini’s majority owner is asserting that “any hope” of turning the troubled resort and its $885m liabilities around was “thwarted” by COVID-19 as it blasted efforts to “malign” its reputation.
Gov’t eyes $9m tax boost from $40m islands’ deal
The Government is poised to enjoy a $9m-plus real property tax boost from the sale of four private islands in the Exuma cays which have been caught up in an acrimonious legal battle.
‘No brainer’: Corporate tax hit to Shell’s $1.6bn Bahamas profits
The Attorney General yesterday confirmed that Shell’s Bahamian subsidiary, which generated $1.6bn in pre-tax profits in 2023, will be subject to 15 percent corporate income tax on those earnings in future.
Fishing frustration on ocean conservation
Bahamian fishermen yesterday voiced frustration that they have largely been cut out of efforts to preserve and sustain this nation's marine environment.
Foreign real estate purchases BIA’s ‘first phase’ digitisation
The Government’s investments chief yesterday revealed that mandating all foreign real estate purchase applications be submitted online is just the “first phase” paving the way for wider digital-based reforms.
Bahamas First’s ratings upheld by top assessor
Bahamas First and its subsidiaries have seen their creditworthiness and financial strength reaffirmed by the global insurance industry’s top rating agency despite recent “challenges” to operational performance.
NAD: Traveller volumes to ‘slightly trail’ record 2023
Lynden Pindling International Airport’s (LPIA) operator yesterday disclosed that passenger numbers for the 2024 holiday season may “slightly trail” last year’s record performance.
Global pilot body bids to avert ‘tourism catastrophe’
The world’s largest private pilot body is renewing warnings of “a tourism catastrophe in The Bahamas” over recently-implemented fee increases that have prompted aviators to discuss “boycotting” this nation.
Liquidators target ArawakX principals’ ‘personal assets’
Liquidators for The Bahamas’ first-ever crowd-funding platform have signalled they plan to target its principals’ “personal assets” to aid creditors who have “no likelihood of... any payment” on $2m-plus in claims.
Hope $300m deal ‘opens door’ on nature financing
Environmental advocates are voicing hope that the Government’s first $300m ‘debt-for-nature’ refinancing will “open the door” for further such initiatives “to propel” The Bahamas towards true climate resiliency.
Minister: ‘Pluses and minuses’ on percentage-based fuel margins
A Cabinet minister has confirmed the Government explored moving petroleum retailers from a fixed to percentage-based margin while revealing no proposal for a similar increase has come from wholesalers.
