Bahamas liquidators detect ‘serious fraud’ signs at FTX
FTX’s Bahamian provisional liquidators have yet to gain control of all its assets amid signs that “serious fraud and mismanagement” may have caused the group’s collapse, it has been revealed.
Sebas: $6.4m Abaco dome contract leaves ‘bitter taste’
Sebas Bastian last night said his Brickell Management Group (BMG) had “a bitter taste in our mouth” after losing money on the $6.4m contract to construct 213 dome homes in Abaco post-Hurricane Dorian.
Pintard says minister ‘misled House’ on BPL fuel hedging
The Opposition’s leader yesterday accused a Cabinet minister of “misleading Parliament” after he admitted the Davis administration rejected proposals “that had the potential to save the Bahamian people $100m”.
‘Not out of woods’ despite lowest deficit for 10 years
The Prime Minister yesterday warned Bahamians “we are not yet out of the woods” as he hailed the lowest first quarter fiscal deficit “in more than ten years”.
BTC revenue growth slows to only 1.3%
The Bahamas Telecommunications Company’s (BTC) year-over-year revenue growth slowed to just 1.3 percent year-over-year for the 2022 third quarter even though it remained ahead of prior year comparatives for the first nine months.
Harbour woes ‘threaten life, immense damage’
Nassau’s main commercial shipping port is renewing warnings that failure to repair the harbour’s western breakwater could “result in immense damage to, and threaten life”, in the city centre.
Water Corp debts to top supplier slashed by 30%
The Government has slashed the debts owed by the Water & Sewerage Corporation to its main supplier by almost 30 percent or $6.3m during the first nine months of 2022.
Manufacturer duty-free approvals shift to online
The Government yesterday moved to further enhance the ease and efficiency of doing business by giving Bahamian manufacturers a January 1, 2023, “drop dead date” to start applying for renewal of their duty-free concessions online.
Pintard to take BPL woe to Public Accounts Committee
The Opposition’s leader says he will place Bahamas Power & Light’s (BPL) up to 163 percent fuel charge increase before Parliament’s spending watchdog in a bid to uncover how much government “errors” are costing Bahamians.
‘Minimal exposure’: Central Bank demands FTX report
Bahamian bankers yesterday predicted the industry has minimal exposure to FTX after regulators demanded the sector disclose all business dealings with the collapsed crypto currency exchange.
Abaco businesses see minimal Nicole impact
ABACO businesses say they largely fared well during Hurricane Nicole with little to no damage reported, although water had yet to be restored to the island’s north before press time last night.
DPM: We can survive ‘curveball’ from FTX
THE Deputy Prime Minister yesterday voiced confidence that the Bahamian financial services will survive the latest “curveball” thrown at it by the FTX crypto exchange’s sudden implosion.
BTC prize to finance US expansion for runner-up
THE runner-up in the Bahamas Telecommunications Company’s (BTC) Inknowvation pitch challenge is planning to use their $3,000 cash prize to expand into the US market.
VAT’s ‘real’ 15% rise since January’s cut
The Davis administration last night said real VAT revenues increased by 15.1 percent year-over-year following the New Year’s Day rate cut with the deficit for the 2022-2023 fiscal year’s first quarter slashed by $116.4m.
Arawak port beats Q1 profits target by 56%
Nassau’s main commercial shipping port is targeting an $808,000 year-over-year increase in net profits for its 2023 financial year after first quarter net income exceeded forecasts by some 56 percent.
