Minister: ‘Goalposts keep moving’ with EU, OECD
The Bahamas is now being blacklisted for implementation deficiencies rather than weaknesses in its financial laws, a Cabinet minister said yesterday.
Aquapure ‘dam bursts’ over price increases
A Bahamian bottled water supplier yesterday said it had been forced to implement its first product-wide price increase for 15 years as “a last resort” with costs having increased “no less than 30 percent” since COVID hit.
$20m developer seeking ‘wasteful’ restrictions end
A Bahamian developer yesterday voiced optimism that the planning authorities will eliminate “wasteful” restrictions to allow his proposed $20m project to proceed and create over 100 construction and full-time jobs combined.
Show not spooked by FTX through DARE-ing reforms
Reforms to The Bahamas’ digital assets regulatory regime must send a “strong message” that this nation remains open to innovation and has not been spooked by FTX’s collapse, an industry entrepreneur urged yesterday.
PI entrepreneur hits back over ‘damn lie’
The Bahamian entrepreneur seeking to restore Paradise Island’s lighthouse yesterday blasted that it was “a damn lie” for Royal Caribbean to assert his project will have a higher guest density than its own.
Minister urges end to construction ‘fronting’
A Cabinet minister yesterday lamented the failure to fully implement legislation to regulate the Bahamian construction industry as he called for an end to ‘fronting’ arrangements that enable foreign ownership in a sector reserved for locals.
Contractors warned on work permit violations
A Cabinet minister yesterday hinted the authorities will soon target Bahamian employers who employ illegal migrants as he urged contractors to ensure their work permit holders comply with the law.
Port Authority ‘game in town’ for Freeport
The Grand Bahama Port Authority (GBPA) remains “the game in town” for all investors seeking to do business in Freeport, the island’s Chamber of Commerce president said yesterday.
Water Corp agrees $3m industrial deal
The Government has signed a $3m industrial agreement with the trade union representing the Water & Sewerage Corporation’s line staff that includes four set salary increases over the next three years.
‘Difficult to compete with free’ on Customs software solution
A Bahamian software developer yesterday said it is “difficult to compete with free” after the Customs Department provided small brokers with a similar product that can integrate with its electronic goods clearance system at no cost.
Bahamas beats $18.7m Suriname CLICO claim
CLICO (Bahamas) has beaten back an $18.734m claim from its Suriname affiliate with the Chief Justice slamming transactions that disguised loans as insurance policies as “a farce”.
Royal Caribbean chief: ‘I wish we’d answered on environment sooner’
Royal Caribbean is aiming “in the next couple of weeks” to answer the 120 questions sparked by its Paradise Island project’s initial environmental consultation, with a senior executive yesterday saying: “I wish we’d replied sooner.”
BISX chief: What about Bahamas Food Services?
The Bahamas International Securities Exchange’s (BISX) chief executive is challenging why the decade-old pledge for an initial public offering (IPO) of the former Bahamas Food Services has yet to be fulfilled.
Commission unveils DARE overhaul - no FTX mention
The Securities Commission last night unveiled its long-awaited overhaul of The Bahamas’ digital assets regulatory regime although there was no mention of, or reference to, the recent FTX implosion.
‘No consistency’ over PI guest density fears
A senior Royal Caribbean executive yesterday argued that fears guest density at its $110m project will “decimate” western Paradise Island “are not necessarily rooted in consistency”.
