Commission seeks FTX $426m asset resolution
The Securities Commission is anxious to resolve the ownership of $426m in FTX digital assets under its control due to the ongoing costs it is incurring to secure them, it has been revealed.
$200m GB airport deal can help solve Lucayan ‘eyesore’
A Hayward family member has voiced optimism that Grand Bahama International Airport’s $200m transformation will serve as a “catalyst” for the sale of a Grand Lucayan resort that has become “a bit of an eyesore”.
PI entrepreneur ready ‘at stroke of PM’s pen’
The Bahamian entrepreneur seeking to restore Paradise Island’s lighthouse yesterday revealed his financing needs have been “oversubscribed by more than 300 percent”, as he urged the Government: “Make good on our deal.”
DPM pledges complete tourism bill consultation
THE DEPUTY Prime Minister yesterday pledged there will be full consultation over the Tourism Development Corporation (TDC) Bill after it was withdrawn from House of Assembly debate following an outcry by the private sector.
‘Big mistake’ to rush 15% minimum tax
A BAHAMIAN financial services provider yesterday warned it would be “a big mistake” for this nation to rush into implementing the 15 percent global minimum corporate tax rate without first ensuring such a move benefits its economy.
Downtown Nassau tourism incubators expand to two
THE DEPUTY Prime Minister yesterday said there will now be two tourism incubation centres in downtown Nassau because his ministry was unable to find a single location able to handle the demand from Bahamian entrepreneurs.
‘Utter amazement’: Ex-PMs trade Oban blame
Perry Christie says he is “utterly amazed” that Dr Hubert Minnis would blame his administration for flawed due diligence on the $5.5bn Oban Energies project given that the deal “was dead” when he left office in 2017.
FTX: US interfering with $45m Bahamas recovery
FTX’s Bahamian liquidators are accusing their US counterparts of interfering with a $45m stablecoin recovery and failing to preserve the value of the collapsed crypto exchange’s $241m local real estate empire.
Tourism Bill withdrawn on consultation worry
Multiple tourism industry stakeholders yesterday said they had not seen or been consulted on draft legislation that was pulled from House of Assembly debate amid fears it would spark a fall in vacation rental room inventory.
FTX wind-up faces stall absent ‘claw back’ rule
FTX’s Bahamian liquidators say they need the Supreme Court to determine who the local subsidiary’s customers truly are so they can “claw back” preferential payments and prevent the winding-up from “stalling”.
FTX US chief bids to cut-off Bahamas
FTX’s US chief yesterday shattered the temporary ceasefire with the Bahamian provisional liquidators by launching a legal bid to deny them access to any assets caught in the crypto exchange’s multi-billion dollar collapse.
Realtor’s four agents join brand’s top 15%
A BAHAMIAN real estate company and its executives have been recognised during its brand franchisor’s 2022 Annual Global Performance Awards.
$500m resort project to do ‘wonders’ for Exuma
THE deputy prime minister yesterday said a $500m resort development targeted at Exuma’s Cave Cay project will “do wonders for the entire area” through creating one of the largest marinas in The Bahamas.
Food retailers await price control easing
FOOD retailers are eagerly anticipating next month’s end to the expanded price control regime as several smaller operators were yesterday said to be on the brink of closure.
Manpower concerns over Exuma investment surge
LABOUR shortages, and the tendency of major developers to rely on foreign contractors, has left Exuma businesses pessimistic over how much they will benefit from multi-million foreign direct investment targeted at the island.
