Project’s 15,000 acres for sale over ‘failure to pay’ property tax
A major Long Island investment project’s near-15,000 acres has been advertised for sale via auction by the Government authorities to clear an allegedly unpaid real property tax debt.
ArawakX ‘to be reported’ to police amid $4m insolvency
The Bahamas’ first-ever crowd funding platform is suffering from a near-$4m insolvency, its provisional liquidators have asserted, as they prepare to report “multiple criminal infractions” to the police.
Early bird catches the worm
ActivTrades
The AI hype and recent quarterly figures have given Nvidia the highest increase in value in Wall Street history. A whooping increase of $277 billion in one day. The market value of the semiconductor specialist moved to the two trillion-dollar mark on Friday.
Digital banking the ‘only way forward’ for Andros residents
DARIN Bethel, president of the Andros Chamber of Commerce said that digital currency providers are the “only way forward” for North and Central Andros businesses and residents.
AG: It’s time to scrap blacklists that have cost Bahamas millions
ATTORNEY General Ryan Pinder said that blacklisting could have cost The Bahamas tens of millions of dollars a year and again called for the UN to abolish the practice.
GB Shipyard targets tripling revenue to $250m by 2029
Grand Bahama Shipyard is aiming to more than triple its annual turnover to $250m within five years, its top financial executive asserting yesterday: "This is not wishful thinking."
FOCOL eyes 25% profit surge plus acquisitions
FOCOL Holdings is predicting a profit increase of 25.2 percent over the next three years with proceeds from its newly-launched $25m rights offering set to fund unspecified acquisitions and expansions.
GB airport demolition start 'within 30 days'
The deputy prime minister yesterday pledged demolition work at Grand Bahama International Airport will begin "within the next 30 days" after the Government "executed an agreement" with the UK operator.
Gov't targets $50m yearly via delinquent property tax sales
The Ministry of Finance's top official yesterday disclosed that the Government is aiming to raise between $25m-$50m annually from selling real estate owned by property tax delinquents.
'Phenomenal': Carnival's extra $100m to drive 5.5m GB cruise tourism surge
Carnival's extra $100m investment to double the volume of ships its new port can handle will lead a cruise-driven 5.5m visitor surge to Grand Bahama in 2028, it was revealed yesterday.
Freeport 'could attract $100bn if the economic model is right'
A Grand Bahama Port Authority (GBPA) director yesterday argued "Freeport needs $10bn, and could attract $100bn if we get the model right" amid a peace offering from the deputy prime minister.
‘Very aggressive’ crackdown on $200m smuggling, evasion
The Government’s top finance official last night pledged “a very aggressive” approach to cracking down on smuggling and tax avoidance schemes believed to cost The Bahamas a combined $200m annually.
Industries mixed over up to 75% boating fee cuts
Fishing and tour excursion providers yesterday gave decidedly mixed reactions on the up to 75 percent cuts in boat registration fees tabled in the House of Assembly.
Gov’t holds firm as $259m deficit near-double target
The Government has not adjusted any of its 2023-2024 fiscal targets despite revealing yesterday that its $258.7m half-year deficit was almost double the full 12-month goal.
Gov’t eyes $140m ‘accrual’ over corporate income tax
The Government is exploring how Bahamas-based companies that will pay the new 15 percent corporate income tax can “accrue” a projected $140m in revenues before the enabling laws are enacted.
