Gambling ‘instability’ fuels wider Bahamas inequality
The gap between rich and poor Bahamians “continues to widen immeasurably”, a prominent businessman warned yesterday, while blaming gambling for causing increased family and social instability.
Investment bank targets $150m ‘pipeline’ raises
A Bahamian investment bank yesterday disclosed it has $150m worth of transactions in “the pipeline” for 2023 amid “growing momentum” within the private sector to raise much-needed capital.
Bahamas Waste in first price rise for ‘more than a decade’
A BISX-listed waste services provider yesterday confirmed that “crazy” cost increases over the past year had left it with no alternative but to raise customer prices for the first time in over a decade.
No more ‘catch up’ over financial crime standards
The Bahamas must ensure it never again plays “catch up” after achieving perfect compliance with global anti-financial crime standards, a former attorney general is warning.
FTX’s Bahamian customers financed SBF’s $546m deal
FTX’s Bahamian subsidiary, and its customers/investors, were yesterday said to have unwittingly helped finance a $546m investment by Sam Bankman-Fried that has now been seized by US federal authorities.
‘$400m opportunity’ to double cruise spend
Nassau has a “$400m opportunity” to double gross cruise passenger spending if it can fully capitalise on the “springboard” provided by the 900,000 visitor increase forecast for 2023, its port chief argued yesterday.
‘Settle down’ before tax crackdown tie-in
The Government should allow the corporate real estate market to “settle down” before seeking to tie Business Licence renewals to property tax compliance by commercial landlords, a prominent realtor argued yesterday.
Gov’t defends $233m borrowing against ‘pure arrogance’ charge
The Government yesterday defended itself from Opposition accusations of “pure arrogance” after it confirmed the law will be changed retroactively to facilitate its borrowing of $233m in IMF special drawing rights (SDRs).
COVID non-factor: Winter tourism season up 10-15%
Forward bookings for The Bahamas’ peak winter tourism season are 10-15 percent ahead of 2022 numbers, a leading hotelier disclosed yesterday, with the industry “satisfied” there will be no return to past COVID restrictions.
Hubert Edwards: Potential and challenge as Bahamas nears 50
This past year was one for recovery and reflection. The COVID-19 pandemic, alongside widespread predictions of a US and wider global recession, supply chain disruptions and other socio-economic tragedies, has marred potential development opportunities for world leaders, consumers, entrepreneurs and businesses.
Goldwynn’s $100m eastern expansion
GoldWynn’s developer yesterday said it no longer plans to acquire additional Goodman’s Bay real estate to its immediate west and will instead move eastwards with its $100m second phase expansion this year.
Towing fare increase could heighten risks
Automotive repair shops yesterday voiced concern that the 67 percent, or two-thirds increase, in standard towing fees could prompt Bahamians to take more risky measures to move broken down vehicles.
West Bay Street development’s rental rates 20% above target
A residential West Bay Street development was yesterday said to be more than 95 percent sold with rental rates some 20 percent higher than projected.
Gov’t pledges law change over its $233m borrowing
The Government has promised to change the law to facilitate its “use” of $233m in International Monetary Fund special drawing rights (SDRs) that have for the past 16 months boosted The Bahamas’ foreign reserves.
US airlines: We’re paying five times Bahamas costs
Major airlines allege they are paying “more than five times” what it costs The Bahamas to provide air navigation services to them amid demands that sanctions be imposed on local carriers flying to the US.
