Union chief: Pharmachem closure ‘staggers’ economy
A Grand Bahama industrial union head says PharmaChem Technologies’ shutdown tomorrow “staggers” an already weak economy and will have a major negative impact on the island.
FNM chief: Ensure GB still perceived as 'fertile ground'
The Opposition's leader yesterday called on the Government to urgently dispel any notion that PharmaChem Technologies' "devastating closure" was caused by local ease of doing business impediments.
South Andros utilities branded 'a hot mess'
South Andros residents and business owners yesterday branded the area's utilities and physical infrastructure as a "hot mess" that is undermining commerce.
Pineapple revival 'not as easy as throwing $2.5m'
A Bahamian pineapple farmer yesterday warned that the Governments ambitions to revive this agricultural niche will "not be as simple as just throwing $2.5m at it".
SEC claiming 'intimidation' of Bahamian whistleblower
US regulators have accused the principal of a now-defunct Nassau broker/dealer of seeking to intimidate a Bahamian whistleblower and "threaten his livelihood".
‘Another kick in the teeth’: GB to lose 100 PharmaChem jobs
The loss of more than 100 well-paid jobs through PharmaChem Technologies’ Friday shutdown was last night branded “another kick in the teeth” for Grand Bahama’s struggling economy.
Andros Chamber puts back investor conclave to March
The Andros Chamber of Commerce has pushed back its economic and investment conclave, which is designed to connect entrepreneurs with investors, from late January to mid-March 2024.
Cabbage Beach vendors will 'stand up' for access
A attorney for the Cabbage Beach Vendors Association yesterday pledged its members will "stand up and fight" if the Ocean Club's expansion impacts their access to Paradise Island's northern shore.
FTX US chief feared $9bn Bahamas ‘risk’
FTX’s US chief has admitted he feared a “risk” that the crypto exchange’s Bahamian liquidators “could be awarded material” sums on their $9bn-plus claim if he failed to settle their dispute.
200 jobs through Ocean Club’s $400m expansion
The Ocean Club’s upcoming $400m expansion will create 200 full-time jobs once the development is fully completed in 2027, the project’s partners have revealed.
FTX real estate sell-off can’t cover $256m debt
The sell-off of FTX’s high-end properties “will not be sufficient” to fully repay the $256.3m debt owed to the crypto exchange’s Bahamian subsidiary, it has been asserted.
'We didn't hit $1bn, but we did very well'
The Bahamian high-end real estate market will "do at least as good as 2023 if not better" in 2024, as one major realtor said of last year: "We didn't do $1bn in sales but we did very well."
DEREK SMITH: Companies must adapt to governance changes
This year, governance, risk and compliance (GRC) will continue to evolve rapidly, driven by technological advances, evolving regulatory environments and changing economic conditions. Gartner projects $205bn in end-user spending on risk management and cyber security in 2024, an increase of 14.3 percent from 2015. GRC programmes will become ever-more important as the regulatory landscape becomes more complex.
Governance reformers: Make transparency laws 'a priority'
Governance reformers yesterday argued that prioritising government transparency and accountability will help combat the same cost of living crisis that the Davis administration is focused on.
Fidelity defends ‘nominal’ in-person service charge
Fidelity Bank (Bahamas) is defending its imposition of a fee for in-person services by describing the sum involved as “nominal” and pointing out it is the last bank to levy such a charge.
