Royal Caribbean: Crew will ‘never’ work on PI
Royal Caribbean has pledged that “at no point” will foreign crew from its ships be working at the $100m Royal Beach Club after being challenged over whether such practices occur at its Coco Cay ‘Perfect Day’ destination.
IMF: ‘Progress’ but more needed on crisis regime
The International Monetary Fund (IMF) has praised The Bahamas for “considerable progress” in developing a regime to prevent and address banking industry failures but also warned much work remains to be done.
FTX’s Bahamas liquidators gain mediator in Ray battle
FTX’s Bahamian liquidators will aim to resolve multiple disputes with their US counterparts when mediation begins next month following the appointment of a retired US judge to act as referee.
Bahamas to upgrade renewable road map
The Government yesterday signed an agreement to "update" the road map for ensuring that 30 percent of The Bahamas' energy needs are derived from renewable sources by 2030.
VAT’s $350m gap causes ‘challenge’
A governance reformer yesterday acknowledged it would have been a “challenge” for the Government to bridge the $350m gap to its full-year VAT target during the final two months of the 2022-2023 fiscal period.
Promotion Board chief: 'Revenge tourism' over
The Nassau Paradise Island Promotion Board's (NPIPB) chief executive yesterday said the destination requires a "concerted marketing effort" to outpace the competition now that post-COVID “revenge tourism is over".
IMF: Bahamians need more protection from bank failure
Bahamian depositors have inadequate protection against “the failure of the largest credit union or any medium-sized bank”, the IMF is warning, as it urged that coverage more than double in percentage terms to $120m.
DPM targeting ‘best year in Bahamas history’ on tourism
The deputy prime minister yesterday predicted that “barring an act of God” this nation can look forward to the “best year ever in the history of The Bahamas” with tourist arrivals 30 percent up on pre-COVID highs.
‘Flabbergasted’ at Royal Caribbean’s PI approval
A Bahamian environmental advocate yesterday said she was “flabbergasted” that Royal Caribbean’s Paradise Island project has been given the go-ahead, adding: “I don’t understand how they think they’re going to pull it off.”
Central Bank advancing financial crisis ‘playbook’
The Central Bank’s governor yesterday asserted The Bahamas “is advancing efforts” to guard against a domestic financial crisis with the authority set to oversee these efforts potentially formed “within the next six months”.
$110m marina project chooses sales partner
A $110m southern New Providence marina development has selected Bahamas Property Group (BPG) as its exclusive real estate sales and marketing partner.
Royal Caribbean: Don’t hold us to higher standard than Atlantis
Royal Caribbean asserts it would be “highly inappropriate” to hold it to a higher standard than Atlantis and other developers with its Bahamian head optimistic there will be no “conflict” with the Paradise Island mega resort.
More downtown property owners eye demolitions
The deputy prime minister yesterday said more owners of derelict downtown Nassau properties have been approaching the Government since demolitions began to inquire if their buildings can be taken down too.
EY Bahamas announces new Bahamian CPAs
EY Bahamas yesterday announced that two young Bahamian employees, Crispin Hanna and Justin Campbell, have earned their Certified Public Accountant (CPA) designations.
Boat registration hikes are 'too big of a jump'
Abaco marina operators and vessel owners say the hike in boat registration fees is causing confusion and is simply "too big of a jump" that many will struggle to pay.
