Bahamas liquidators explore FTX ‘restart’
FTX’s remaining Bahamas-based staff were paid a collective $635,297 through to end-January 2023 as provisional liquidators explore “options” that may include restarting its trading platform, it was revealed last night.
Bahamas ‘into line’ on economic substance
The Attorney General yesterday said reforms to bring The Bahamas’ economic substance regime “into line” are “not necessarily” designed to address the deficiencies that led to the country’s re-blacklisting by the European Union (EU).
Probe into ‘legitimacy’ of $7.7bn FTX withdrawals
FTX’s Bahamian liquidators are probing whether $7.7bn was withdrawn from its local subsidiary via “legitimate” transactions as they yesterday revealed virtually all countries are represented in its 2.4m-strong client base.
Cutting off workplace disputes at the root
Employees in the same workplace can often create discord through personal disagreements. Chances are that if you notice tension between employees, others within the office will too. Workplace discord comes in many forms, yet there is no one-size-fits-all solution for dealing with it. Such conflict not only threatens productivity, but creates tension in an environment that contributes to poor morale, absenteeism and even lower rates of employee retention. What can you do?
DPM rejects union chief’s neglect claim
THE DEPUTY prime minister yesterday rejected accusations by trade union leaders that he is neglecting their concerns and ignoring calls for intervention in workplace disputes.
‘Stop fattening pockets’ of foreign food suppliers
The Bahamas must “stop fattening the pockets” of foreign food suppliers by enabling its farmers to exploit more than $50m worth of meat and vegetable possibilities, an agriculture entrepreneur argued yesterday.
BPL to re-enter hedging via 15% fuel cost lock-in
Bahamas Power & Light (BPL) yesterday signalled its intent to re-enter the fuel hedging market just one day after the Prime Minister sought to discredit how the strategy was employed by the former administration.
New construction permits off 20% due to commercial drop
The value of new construction permits issued in the 2022 third quarter fell by almost 20 percent year-over-year due to a significant drop-off in new commercial projects, it was disclosed yesterday.
Avoid ‘jack up numbers’ on Business Licence renewal
Companies are only suffering delayed Business Licence renewals if they have “jack up numbers” and are unable to provide proof of income, a small business consultant and activist argued yesterday.
‘Worryingly low’ graduation’s blow to high-value economy
The Bahamas’ ability to develop high-value industries and diversify its economy are impaired by “worryingly low” graduation rates at its sole university with just 7 percent of students studying science and technology-related courses.
Rejected web shop loses licence appeal
The Gaming Board’s decision to reject a web shop’s licence bid during the industry’s legalisation was fully vindicated yesterday by the Supreme Court.
House hostilities erupt on $150m BPL arrears
The Prime Minister and Opposition’s leader yesterday accused each other of making “false” statements as renewed hostilities erupted over Bahamas Power & Light’s (BPL) $150m in unpaid bills.
PM targets 75% of property tax billings ‘within four years’
The Prime Minister yesterday defended the Government’s aggressive target of more than tripling real property tax collections by asserting it plans to collect 75 percent of annual billings “within the next four years”.
'Full-throated' effort urged on regulatory compliance
The Bahamas must display a "full-throated commitment" fighting all forms of financial crime, the attorney general reiterated yesterday, while pointing to the imminent challenge posed by global corporate tax reforms.
Opposition finance chief: GBPA has 'outlasted time'
The Opposition's finance spokesman yesterday backed calls for change at the Grand Bahama Port Authority (GBPA) and argued that its present structure has "outlasted the times".
