Total $1.4bn SOE debts pose ‘a significant risk’
Total debts owed by the Government’s state-owned enterprises (SOEs) have hit $1.4bn to become “a significant risk” by exceeding 10 percent of annual economic output, the IDB has warned.
FTX settlement ‘proves naysayers were wrong’
The FTX settlement shows The Bahamas has “beaten expectations” and “proven the doom and gloom naysayers wrong” over the crypto exchange’s collapse, a well-known businessman argued yesterday.
URCA proposes 20% expansion in budget
The Utilities Regulation and Competition Authority (URCA) is for the second consecutive year proposing a major hike in its operating budget via a near-20 percent increase for 2024.
Commission asset turnover as part of FTX’s settlement
FTX Bahamas’ liquidators have agreed to use “commercially reasonable efforts” to ensure some $426m worth of digital assets held by the Securities Commission are transferred to their US counterparts.
Abaco residents renew water billing complaints
An Abaco resident says she has been hit with a $1,300 Water & Sewerage Corporation bill despite being absent from her property for over three years after it was devastated by Hurricane Dorian.
Business Licence audit can’t be ‘too draconian’
A Bahamian accountant yesterday warned against the enhanced Business Licence verification process becoming “too draconian” and urged that some flexibility be provided on a “case by case” basis.
Gov’ts $544m undershoot on Dorian and COVID-19
The two greatest crises in modern Bahamian history resulted in the Government’s 2019-2020 revenues falling $544.1m short of their target, its leading fiscal watchdog has affirmed.
‘Landmark breakthrough’: FTX Bahamas strikes new Ray deal
FTX’s Bahamian liquidators yesterday hailed the settlement reached with their US counterpart as “a landmark breakthrough” that will avoid “years of protracted litigation” which would cost creditors dearly.
Renewable investors tour Eleuthera plants
A group of potential investors yesterday toured Eleuthera power plants as the Government’s Family Island renewable energy sought to build momentum.
Gov’t procurement portal taking ‘positive’ direction
The Government’s online procurement portal is heading in a “positive” direction by providing timely updates on contract awards, a governance reformer said yesterday.
CBS: Online platform in 20% of Xmas sales
A Bahamian retailer yesterday said its e-commerce platform is generating 20 percent of total revenue this Christmas season.
Dorian and COVID-19 cost Bahamas one year’s GDP
The Inter-American Development Bank (IDB) has approved doubling its crisis financing facility for The Bahamas to $200m after combined Dorian and COVID losses matched this nation’s annual economic output.
Bahamian ‘Russian roulette’ with 30% uninsured drivers
The Bahamas is “really playing Russian roulette on the road” with its citizens’ lives by failing to crack down on the estimated 25-30 percent of drivers who are uninsured, insurers warned yesterday.
British Colonial employs ‘stair step’ opening plan
The British Colonial’s general manager yesterday affirmed the resort is “being very conservative” following its re-opening so as not to “overwhelm our staff” with a sudden surge in visitor demand.
FTX Chapter 11 plan needs Bahamas deal
Plans to bring FTX out of bankruptcy protection in the US cannot be finalised without agreement with their Bahamian counterparts as “ongoing good faith negotiations” between the two sides continue.
