Insurers open to work with gov’t over coverage pool
Bahamian insurers are willing to work with the Government in creating a pool mechanism that would make catastrophe coverage more affordable for homeowners and businesses, its association chief said yesterday.
ArawakX to fight solvency shut down bid ‘all the way’
The Bahamas’ first-ever crowd funding platform last night pledged to “go all the way to the Privy Council” if the Securities Commission moves to shut it down over “solvency” concerns following a key hearing today.
Cruise departure hike ‘real measure’ of fiscal success
The Ministry of Finance’s top official yesterday asserted that the 2023-2024 fiscal year is “very, very critical” for solidifying market confidence in The Bahamas with the cruise passenger departure tax hikes vital to achieving this.
Insolvent contractor’s staff recover just 10%
The Government and former workers are set to receive just over 10 percent of what they are owed by a Cavalier Construction affiliate, its liquidators have revealed.
Gov’t revenue goal ‘very close’ despite VAT miss
The Government’s top finance official yesterday forecast that it will “come very close” to achieving its total revenue and tax forecasts for the 2022-2023 fiscal year even though VAT could potentially under-shoot by up to $160m.
Bahamas’ 27% water heat surge ‘devastating’ to coral
The Bahamas’ July water temperature had “a devastating effect” on coral reef ecosystems after being heated to a level 27 percent higher than the monthly average, an international tribunal has been told.
Current residents in ‘dire straits’ over BPL outages
Bahamas Power & Light (BPL) yesterday blamed an underwater cable break for leaving residents of Current Island, off North Eleuthera, in “dire straits” due to prolonged power outages that have lasted more than a week.
Family Island consumers warned over food prices
The Retail Grocers Association’s president yesterday put the Family Islands, in particular, on alert for higher food prices due to the recent increase in fuel and associated shipping costs as a result of higher global oil prices.
Family Island consumers warned over food prices
The Retail Grocers Association’s president yesterday put the Family Islands, in particular, on alert for higher food prices due to the recent increase in fuel and associated shipping costs as a result of higher global oil prices.
FTX Bahamas $9bn claim is ‘redundant’
FTX’s US chief yesterday dismissed the $9.15bn claim submitted by his Bahamian counterparts as “invalid” and “redundant” while revealing that the crypto exchange’s local real estate holdings have been valued at up to $214m.
Cable targeting ‘monumental improvement’ via Aliv refinance
Cable Bahamas’ top executive yesterday asserted the group is poised for “monumental improvement” in profits if it can reach agreement with the Government on refinancing Aliv’s debt at lower interest costs.
Sandals expansion awaits ‘overwater’ policy reforms
Sandals is proposing to expand its Fowl Cay property through the development of ten “overwater” bungalows in “anticipation” that the Government will finally end the two decade-plus wait for a policy governing such structures.
Atlantis veteran wins over ‘unfair’ dismissal
A 32-year Atlantis veteran’s summary dismissal due to a misunderstanding over a drink-related tip was affirmed as “unfair” yesterday by the Court of Appeal, which rejected the mega resort’s challenge to her initial $15,480 damages award.
Gov’t like ‘the vandal now trying to buy GBPA house’
The Government’s bid to drive change at the Grand Bahama Port Authority (GBPA) was yesterday likened to “the person who did the vandalising now trying to buy the house from its owners for little money”.
New taxi plates placed ‘on hold’
The Government’s decision to place new applications for taxi, livery and self-drive plates “on hold” was yesterday hailed by a union president for bringing order to a situation that was “never going to end”.
