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.
‘Everything is on table’ over VAT health claims
The Ministry of Finance’s top official says “everything is on the table” with VAT-related reforms, which could have raised medical costs for thousands of insured Bahamians, now not proceeding prior to the Budget at end-May.
‘Up the ante’ on cruise line deals
A former Bahamas National Trust (BNT) chief yesterday said this nation must “up the ante” and leverage its “natural capital” to obtain better deals from the cruise industry, adding: “We give up too easily.”
SBF’s trading arm gave Pointe owner $3.4m ‘gift’
The China Construction America (CCA) owned entity that developed The Pointe in downtown Nassau purportedly received $3.362m in “gifts or charitable contributions” from Sam Bankman-Fried’s private trading arm.
Oban’s investors hit by $5m ‘fraud’
The principal behind the controversial $5.5bn Oban Energies oil refinery deal has agreed to be sanctioned and pay fines after being accused of defrauding investors in the project of some $5.2m.
Bahamian small businesses told: Embrace e-commerce
BAHAMIAN small and medium-sized businesses must embrace digital payments and transactions if they are to properly participate in the tourism industry and wider global economy, a provider says.
Flashbacks of 2008
ActivTrades
The past two weeks have produced flashbacks to the 2008 financial crisis following the collapse of Silicon Valley Bank (SVB).
Bay Street merchants ‘overcharging’ tourists
BAY Street merchants have been accused by The Bahamas’ consumer protection watchdog of overcharging cruise ship passengers and other tourists on their credit card purchases
GB to Abaco power cable ‘doable’ but more needed
THE Grand Bahama Chamber of Commerce president says supplying power from the island to Abaco via an undersea electricity cable is “doable” but more details are required on the initiative.
FINCO chief: 95% of local transactions done digitally
RBC FINCO’s top executive says Bahamians are beginning to embrace a digital future with 95 percent now conducting their financial transactions electronically.
