‘Disaster for business’: Village Road works in up to 46% loss
Village Road companies have branded the area’s ten-month long roadworks “a disaster for business” with income losses running as high as 46 percent and damaged properties urgently needing repairs.
Tax breaks call as Village Road avoided ‘like plague’
Village Road businesses are seeking VAT credits, plus Business Licence and real property tax waivers, to compensate for the damage inflicted by roadworks that have caused consumers to avoid the area “like the plague”.
Fears FTX ‘a game changer’ for financial services sector
FTX could be “a game changer” for the Bahamian financial services industry’s growth prospects, a well-known businessman warned yesterday, with the country facing “severe attack” over its implosion.
BPL to end deal covering 50% of Nassau electricity
Bahamas Power & Light (BPL) is ending a deal that supplies around 50 percent of New Providence’s base load electricity generation despite concerns its own staff are not trained to operate the engines involved.
Don’t suffer Xmas hangover through financial indiscipline
The holiday season is almost upon us, and while Christmas is a wonderful opportunity to spend time with friends and family, it is also an occasion when a person’s “jolly spending” can create financial hardships for months to follow.
Arawak Cay vendors hit by gate’s closure
Arawak Cay vendors yesterday said the closure of the venue’s eastern gate entrance is creating a “turn off” for visitors to the Fish Fry and a drop in their income.
Investment fund bill to boost gov’t returns
The Attorney General yesterday hailed the National Investment Funds Bill (IFB) for providing a structure that will allow the Government’s ownership interests in private companies to be professionally managed.
Efforts to rebuild Treasure Cay’s sewerage system hit by ‘procurement, shipping delays’
The Water and Sewerage Corporation (WSC) yesterday conceded that efforts to rebuild Treasure Cay’s sewerage system have been hit by “procurement and shipping delays” in COVID-19’s aftermath.
Companies urged to build investor sustainability trust
A Bahamian accountant says it is vital that investors have trust in a company’s sustainability reporting in an environment where increasing emphasis is being placed on climate action.
Commission ‘cannot condone’ FTXs $100m Bahamas payout
A Delaware bankruptcy judge was yesterday told that the Securities Commission’s vehement rejection of Sam Bankman-Fried’s Bahamian creditor preferential payout plan proves there was no “collusion” with the FTX founder.
Cable unveils its first dividend in five years
Cable Bahamas’ top executive yesterday voiced optimism that it has “set the foundation” to become a dividend-paying stock once again with the unveiling of a first capital return to shareholders for five years.
RBC’s 3-day digital woes an ‘absolute catastrophe’
Royal Bank of Canada (RBC) yesterday pledged it is “working diligently” to restore its digital banking platform with businesses branding the three-day woe as “an absolute catastrophe” for commerce.
‘FTX BAHAMAS CHIEF CONFESSED TO FRAUD’: Securities Commission director says admission led to liquidation move
The head of FTX’s Bahamian subsidiary sparked an “urgent” police probe into possible criminal misconduct when he confessed to local regulators about the misuse of multi-billion dollar client funds.
Abaco project generates $60m sales in one year
A HIGH-END Abaco resort project was yesterday said to have generated more than $60m in real estate sales in little over a year as its build-out gathers pace following the COVID-19 pandemic’s easing.
Bahamian liquidators pledge $100m FTX payout recovery
FTX’s Bahamian provisional liquidators yesterday pledged to “claw back” the $100m payout to 1,500 Bahamian clients as they blasted the failed crypto exchange’s US chief for “inflaming and untrue” statements.
