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.
Cruise port targeting 25% visitor rise to 5.6m in ‘24
Nassau Cruise Port yesterday affirmed it is targeting a near-25 percent increase in passengers to 5.6m for 2024 after receiving close to 4.5m last year.
Graycliff workers enjoy 20% pay increase over five years
The hotel union’s president says the newly-signed industrial agreement with Graycliff will give 50 workers a 20 percent pay rise spread over five years and place them in a “more stable position”.
Fired Atlantis shop steward now working at hotel union
A former Atlantis chief shop steward, whose firing last year triggered a formal trade dispute, has elected not to return to the resort and is now employed full-time with the hotel union.
Fast-food chain aiming for $1.5m growth ‘slam dunk’
A Bahamian fast food franchise yesterday revealed it aims to create 25 jobs through a $1.5m expansion into its tenth New Providence location after all planning approvals are obtained.
Taxi drivers threaten own ‘Battle 4 Atlantis’
The Bahamas Taxi Cab Union (BTCU) yesterday threatened to launch its own “Battle for Atlantis” over the mega resort’s efforts to prevent drivers from “clogging” the Coral Towers entrance.
Petroleum retailers fear ‘another nail in the coffin’
Bahamian petroleum retailers yesterday voiced fears that full Business Licence audits will be “just another nail in the coffin” as they push to meet with the Prime Minister over demands for a margin increase.
Boat registration hikes ‘life and death matter’
The Opposition’s finance spokesman yesterday blasted the “cruel” magnitude of the boat registration fee hikes which he branded “a matter of life and death” for his constituency’s subsistence fishermen.
PM renews call on climate financing
The Prime Minister has renewed his charge that there is a “disparity” between the climate changes pledges made by developed countries and the financing required by small island states such as The Bahamas.
Union president hopes deal with Graycliff signed today
The hotel union's president yesterday said it hopes to conclude an industrial agreement with Graycliff as early as today, adding: "You can see the finish line but we're not there yet."
$3m co-working facility 30% booked at launch
A newly-launched western New Providence co-working space was 30 percent booked when it opened on Wednesday, its principal told Tribune Business.
