Mini speedboat excursion invests $200k to ride wave
A TOUR and excursion provider says its plans to offer a “different experience” for both Bahamians and tourists after investing more than $200,000 over the past year in its launch.
Regional investment summit eyes Bahamas as location
THE CARIBBEAN Export Development Agency (CEDA) wants to bring the Caribbean Investment Forum (CIF) to The Bahamas following this year’s successful staging in Trinidad and Tobago this November.
Fidelity cuts profits target by $2-$2.5m
Fidelity Bank (Bahamas) has cut its full-year profit forecast by $2m-$2.5m after incurring more upfront costs than anticipated with the ongoing roll-out of its merchant and card services.
BOB chief: Bahamas ‘long way from default’
Bank of The Bahamas’ top executive says the country is “a long way away from a debt default” even though constant sovereign downgrades are “taking their toll” on the banking industry and wider economy.
FTX’s fall ‘won’t ruin’ high-end real estate
Bahamian realtors believe the FTX crypto currency exchange’s implosion will not “ruin” western New Providence’s high-end property market as bargain hunters start to circle its $74m worth of holdings.
DID FTX BREACH FREEZE ORDER? Filing for bankruptcy could have violated Supreme Court ruling
Fears have been voiced that FTX’s co-founder violated a Bahamas Supreme Court Order when he placed some 134 group entities under Chapter 11 bankruptcy protection in Delaware.
Insurer: Hurricane season end ‘can’t be soon enough’
A TOP Bahamian insurance executive says the official end to the 2022 hurricane season “can’t come soon enough” given that Hurricane Ian will further “tie our hands” on premium prices for local consumers.
Pintard: ‘It’s too early to tell’ on DARE reform post-FTX
THE Opposition’s leader says it is still too early to determine how The Bahamas’ laws and regulations governing the digital assets industry should be reformed following the FTX crypto exchange’s spectacular implosion.
$1m Sand Dollar hand out aims to boost usage
THE CENTRAL Bank plans to hand out $1m worth of its Sand Dollar digital currency throughout the Family Islands next year in a bid to encourage greater adoption by residents and businesses.
Long Island mixed on $250m cruise project
LONG Island businesses have given mixed reactions to the island’s proposed $250m cruise port, with some arguing it lacks the capacity to sustain the project and others asserting it is vital to prevent communities “dying out”.
Timeless Gold
ActivTrades
THE fact that gold prices have been subdued over the past year must be one of the most counterintuitive financial market dynamics of recent times. The precious metal is known as a safe haven, and a hedge against rising inflation. We certainly have had plenty of both recently, so why are gold prices down by more than 15 percent in relation to the yearly maximum reached in March? The answer is relatively straightforward: Blame the US dollar.
Gov’t investment chief: ‘We must regain people’s trust’
The Government’s investments chief yesterday admitted it has “a lot of work to do in regaining the trust of the Bahamian people” while revealing that some $660m worth of projects are on the drawing board for Long Island.
FTX’s Bahamas creditors unlikely to see full recovery
FTX’s newly-appointed chief executive yesterday asserted that corporate governance was non-existent at its Bahamian subsidiary, adding: “Never have I seen such a complete failure of controls in my 40-plus years.”
Long Island’s to airport is branded ‘a disgrace’
Long Island’s chief councillor yesterday branded the Deadman’s Cay airport “a disgrace and leaves much to be desired” as the lack of airlift and connectivity continues to undermine the island’s economic prospects.
BAHAMAS REBUTS FTX ACCESS CLAIMS: Securities Commission given lawful permission to transfer assets to ‘a safer space’
The Securities Commission last night debunked accusations the Government “directed unauthorised access” to FTX’s systems, and aided the withdrawal of digital assets, in violation of Bahamian and US court orders.
