Bahamas payment app signs up 1,500 visitors
A digital payments provider says more than 1,500 visitors who will arrive in The Bahamas for the Thanksgiving and Christmas holidays have signed up to use its “tourism app”.
Treasure Cay ‘can’t afford’ $3bn legal battle’s fall-out
TREASURE Cay homeowners yesterday warned they “can’t afford” for the development to be “tied up for years” by a $3bn claim against the Government.
Partnership to give $400k boost for ‘blue economy’
THE Small Business Development Centre yesterday sealed a $400,000 tie up with The Nature Conservancy (TNC) via a Memorandum of Understanding (MoU) for technical assistance.
S&P: ‘No material effect’ for Bahamas from FTX
Standard & Poor’s (S&P) yesterday gave The Bahamas “breathing room” by maintaining its existing sovereign credit rating while predicting that FTX’s implosion will have “no material adverse impact” for the country.
S&P slashes Bahamas ‘23 growth to just 1.1%
Standard & Poor’s (S&P) yesterday slashed its 2023 economic growth forecast for The Bahamas to just 1.1 percent despite giving the country a break on repeated annual creditworthiness downgrades.
‘Meeting of minds’ needed on distressed housing drag
The Government and commercial banking industry must have “a meeting of the minds” so the latter can “clean up” its backlog of distressed properties and resume aggressive mortgage lending again, a senior banker urged yesterday.
Bahamas faces high risk economic ‘roller coaster’
The Bahamas will be on an economic “roller coaster for a significant period of time” as the US Federal Reserve and other central banks take swift action to combat inflation, a local banker warned yesterday.
FTX SPENT $300M ON PROPERTY BUYS: Court documents reveal valuation of real estate spree
A Bahamian realtor yesterday estimated that the collapsed FTX crypto currency exchange spent $250m and “probably more” on acquiring New Providence real estate, adding: “It was great while it lasted.”
Eleuthera’s economy arising from ‘cocoon’
THE ELEUTHERA Chamber of Commerce’s president yesterday said the island’s economy is expanding faster than it can handle after emerging from its “cocoon”
Digital provider facilitates over $200m in payments
A BAHAMIAN digital payments provider yesterday said it has processed more than $200m in transactions since its launch after expanding to a 35,000- strong user base.
Manufacturer: 12-hour shift doesn’t break law
A Freeport manufacturer last night said just three maintenance staff “withdrew” their labour over a new 12-hour shift system implemented to support the company’s expansion.
Bahamas First ‘could not meet increased demand’
Bahamas First has been unable to meet new property insurance demand that “exceeded our expectations” despite securing additional reinsurance capacity for 2022 in a bid to generate growth.
Legal battle hits Albany’s South Ocean ambitions
A controversial Austrian investor says he has cut 60 percent of planned rooms from his proposed South Ocean redevelopment to “accommodate Albany” even though the property remains entangled in litigation he initiated.
Cable chief optimistic $2.8m profit is trend
Cable Bahamas’ top executive is voicing optimism that $2.8m first quarter profits represent the start of a trend with its fibre network set to cover all New Providence “on a home pass basis” by year-end 2023.
DEVELOPER SUES GOVT FOR $3BN: Austrian takes action over blocked project in Abaco’s Treasure Cay
A controversial Austrian developer is demanding an astonishing $3bn-plus in damages and interest from the Government after it blocked his bid to acquire Abaco’s Treasure Cay project.
