GB to Abaco power cable ‘fraught with complications’
Grand Bahama Power Company’s top executive says running an electricity cable to Abaco is “fraught with complications” and remains a “longer-term opportunity” it plans to explore.
‘HUMBLE APOLOGY’ TO FURIOUS PM BY TOBY SMITH – “Deeply disturbed’ Davis: I’m the one left betrayed by developer’s comments
A Bahamian entrepreneur yesterday made a “humble apology” after the Prime Minister reacted furiously to assertions he had “betrayed” him by failing to honour earlier pledges to approve his $3m Paradise Island project.
Make Bahamians arbitration ‘masters’
THE OPPOSITION’S finance spokesman yesterday voiced concern that Bahamians may be left behind if this nation moves too swiftly to establish itself as an international arbitration hub.
‘Deck stacked in our favour’ on arbitration
THE PRIME Minister yesterday described The Bahamas’ efforts to establish itself as an international arbitration centre as “long overdue”, and added: “The deck is stacked in our favour.”
Oban revival dismissed despite $2.5bn plans
Talk of reviving the $5.5bn Oban Energies oil refinery deal has been dismissed as “foolishness” by the Prime Minister’s spokesperson although an “introductory call” was held with the project’s new owners soon after the 2021 election.
Gov’t challenged: Disclose Royal Caribbean’s PI deal
The Bahamian entrepreneur bidding to restore Paradise Island’s lighthouse yesterday challenged the Government to disclose full details of the revised Royal Caribbean deal that has “massive hurdles” to overcome.
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.
