‘Utter amazement’: Ex-PMs trade Oban blame
Perry Christie says he is “utterly amazed” that Dr Hubert Minnis would blame his administration for flawed due diligence on the $5.5bn Oban Energies project given that the deal “was dead” when he left office in 2017.
FTX: US interfering with $45m Bahamas recovery
FTX’s Bahamian liquidators are accusing their US counterparts of interfering with a $45m stablecoin recovery and failing to preserve the value of the collapsed crypto exchange’s $241m local real estate empire.
Tourism Bill withdrawn on consultation worry
Multiple tourism industry stakeholders yesterday said they had not seen or been consulted on draft legislation that was pulled from House of Assembly debate amid fears it would spark a fall in vacation rental room inventory.
FTX wind-up faces stall absent ‘claw back’ rule
FTX’s Bahamian liquidators say they need the Supreme Court to determine who the local subsidiary’s customers truly are so they can “claw back” preferential payments and prevent the winding-up from “stalling”.
FTX US chief bids to cut-off Bahamas
FTX’s US chief yesterday shattered the temporary ceasefire with the Bahamian provisional liquidators by launching a legal bid to deny them access to any assets caught in the crypto exchange’s multi-billion dollar collapse.
Realtor’s four agents join brand’s top 15%
A BAHAMIAN real estate company and its executives have been recognised during its brand franchisor’s 2022 Annual Global Performance Awards.
$500m resort project to do ‘wonders’ for Exuma
THE deputy prime minister yesterday said a $500m resort development targeted at Exuma’s Cave Cay project will “do wonders for the entire area” through creating one of the largest marinas in The Bahamas.
Food retailers await price control easing
FOOD retailers are eagerly anticipating next month’s end to the expanded price control regime as several smaller operators were yesterday said to be on the brink of closure.
Manpower concerns over Exuma investment surge
LABOUR shortages, and the tendency of major developers to rely on foreign contractors, has left Exuma businesses pessimistic over how much they will benefit from multi-million foreign direct investment targeted at the island.
‘Everything is on table’ over VAT health claims
The Ministry of Finance’s top official says “everything is on the table” with VAT-related reforms, which could have raised medical costs for thousands of insured Bahamians, now not proceeding prior to the Budget at end-May.
‘Up the ante’ on cruise line deals
A former Bahamas National Trust (BNT) chief yesterday said this nation must “up the ante” and leverage its “natural capital” to obtain better deals from the cruise industry, adding: “We give up too easily.”
SBF’s trading arm gave Pointe owner $3.4m ‘gift’
The China Construction America (CCA) owned entity that developed The Pointe in downtown Nassau purportedly received $3.362m in “gifts or charitable contributions” from Sam Bankman-Fried’s private trading arm.
Oban’s investors hit by $5m ‘fraud’
The principal behind the controversial $5.5bn Oban Energies oil refinery deal has agreed to be sanctioned and pay fines after being accused of defrauding investors in the project of some $5.2m.
Bahamian small businesses told: Embrace e-commerce
BAHAMIAN small and medium-sized businesses must embrace digital payments and transactions if they are to properly participate in the tourism industry and wider global economy, a provider says.
Flashbacks of 2008
ActivTrades
The past two weeks have produced flashbacks to the 2008 financial crisis following the collapse of Silicon Valley Bank (SVB).
