Liquidators control 30% of FTX Bahamas cash
FTX’s Bahamian liquidators have to-date gained control of just 30 percent of the local subsidiary’s $255.2m cash assets despite locating fresh recoveries in Switzerland.
Maritime contracts signed ‘maliciously’
A senior civil servant is alleging that two controversial multi-million dollar maritime contracts were executed “negligently, unlawfully and maliciously” in contravention of public service rules.
Data-driven insights key for sustainable success
In the dynamic realm of business and technology, the role of data-driven decision-making stands out as a cornerstone for successful digital transformation. As industries adapt to the demands of the digital era, leveraging data strategically has become a crucial factor in gaining a competitive edge.
Gov’t urged: ‘Stop talking nonsense’ on GBPA sale
The Grand Bahama Chamber of Commerce’s president yesterday said the Government has to “stop talking nonsense” over the Grand Bahama Port Authority (GBPA).
Distribution contracts may frustrate competition plan
A food retailer yesterday said the long-standing distribution contracts that many Bahamian wholesalers have with global brands could frustrate the Government’s plans to introduce more competition.
Aliv ‘set for success’ with $55m refinance
Cable Bahamas’ top executive yesterday asserted that an “up to” $55m refinancing package agreed with the Government will “set up Aliv for future success”.
Gov’t ready to ‘step to plate’ and buy GBPA
The Government has been negotiating to acquire the Grand Bahama Port Authority (GBPA) for months with the Prime Minister yesterday confirming it is “willing to step to the plate” and agree a deal itself.
Deal’s ‘equal treatment’ for 53k FTX Bahamas claims
FTX’s Bahamian liquidators “are in the advanced stages” of negotiating a “global settlement” with their US counterpart that will ensure equal treatment for their near-53,000 creditors.
Melia site set for $500m outlay on 600-room hotel
The Prime Minister yesterday revealed that Baha Mar’s owner plans to invest up to $500m in developing a new 600-room resort on the site of the old Melia Nassau Beach hotel.
Commonwealth cuts loan delinquency by up to 5%
Commonwealth Bank says non-performing loans have reduced by between 1-5 percent across all credit segments since year-end 2022 as its portfolio expands faster than market growth.
By-election spending is ‘win-win’ for Bimini
Bimini’s Chamber of Commerce president yesterday hailed spending by both political parties on today’s by-election as a “win-win” for all residents and the island’s economy.
Better IP protection ‘great’ but creatives require more
The Government’s bid to create a dedicated intellectual property (IP) office was yesterday hailed by musicians as a “great” advance in helping to safeguard their creative works against piracy and theft.
‘Incredibly difficult’ for middle class to ever purchase home
Middle class Bahamians will find it “incredibly difficult to ever get a home”, developers and realtors warned yesterday, with financing and other hurdles constantly being raised that “little bit higher”.
Public sector debt drops $93m during first quarter
Total public sector debt fell by $93m during the first quarter of the 2023-2024 fiscal year, it was disclosed yesterday, cutting it slightly from its June peak as the foreign currency share fell by 1.5 percentage points.
Bahamians using renewables ‘without understanding’ them
Bahamians are using key components of renewable energy technology “without understanding where or when or how” it impacts their lives, regulators are asserting.
