Port Authority limited over unsafe buildings
The Grand Bahama Chamber of Commerce's president yesterday said the Grand Bahama Port Authority (GBPA) remains restricted to revoking occupancy certificates because it has no powers to demolish unsafe buildings.
‘FTX chief planned $256m sell-off behind our backs’
FTX’s Bahamian liquidators have accused their US adversary, aided by its local law firm, of going behind their backs in attempting to sell $256m worth of real estate domiciled in this jurisdiction.
BPL’s 71% cost hike branded ‘outrageous’
Private sector executives yesterday branded the 71 percent hike in Bahamas Power & Light’s (BPL) total energy costs as “outrageous” and “brutal”, with one saying: “I don’t know how businesses are surviving.”
$700m external loan goal ‘looking very favourable’
The Government’s bid to raise almost one-third of its near-$2.2bn gross financing needs for the 2023-2024 fiscal year from external banks is “looking very favourable”, a senior official revealed yesterday.
SBF’s trading arm, Alameda Research, operated in Bahamas without licence
The private trading entity created by Sam Bankman-Fried, and alleged to have played a key role in FTX’s multi-billion dollar implosion, was based and controlled in The Bahamas despite not being licensed to operate in this jurisdiction.
Supply ‘challenges’ freeze ice supplies
Food stores and gas stations yesterday blamed supplier woes for ice shortages that impacted New Providence amid searing heat over the weekend.
Central Bank 'agrees' on $232m IMF SDR roll-over
The Central Bank has "agreed to roll over" the $232.3m IMF special drawing rights (SDR) financing it provided to the Government as part of the latter's 2023-2024 borrowing plan, it was revealed yesterday.
BPL bills 'like a mortgage'
The Bahamas Society of Engineers (BSE) president yesterday described Bahamas Power & Light (BPL) bills as being “almost like a mortgage now” as households and the private sector struggle to cope with the increased expense.
Further $2m invested to combat pot holes
The Ministry of Works yesterday said it is investing a further $2m to combat pot holes plaguing New Providence's road network after recent heavy rainfall merely worsened the hazards facing motorists.
‘Use renewables’ to solve Andros electricity woes
After a series of problems with power generation, Darin Bethel, president of the North Andros Chamber of Commerce, is challenging the government to look into a long-term energy plan for North Andros that includes an increased use of renewable energy.
‘Is council still active?’ demands Thompson
Kwasi Thompson, Member of Parliament for East Grand Bahama, released a statement yesterday urging the government to provide an update on the Fiscal Responsibility Council and to produce the overdue Fiscal Strategy Reports.
Jitney drivers want fare increase to $2 for adults
Jitney drivers are proposing that fares for adults should go up to $2, but are awaiting the go-ahead from the government.
Gas dealers hopeful despite lack of talks
Petroleum dealers said that the lack of a margin increase does not signify a failure in their negotiations with the government.
Reform Series Conclusion: ‘We are the problem.’
We must confront an uncomfortable truth: we, the people, are the root of the problem. As citizens of The Bahamas, it’s high time we face our shortcomings and acknowledge the urgent need for sweeping reforms across critical sectors of our society.
Supercharge your summer: Tackle inflation with investor loans
As the summer sun blazes, so does the ongoing battle against inflation. Rising prices are causing financial stress for many, but savvy investors are turning to a powerful weapon in their arsenal: investor loans also known as margin loans. This unique financial tool allows you to use your government bonds, shares and other investments as security against a loan. Let’s look at some of the ways you can get ahead by opting for a low interest investor loan.
