Lucayan chairman tight lipped on $5m deposit
The Grand Lucayan’s chairman is “moving on to November 15”, the targeted closing date for the hotel’s $100m sale, although he was tight-lipped on whether a binding sales contract has been signed and a deposit paid.
Digital asset ‘disruptors’ to shrug off EU blacklist
A Bahamian accountant is voicing optimism that this country’s latest threatened blacklisting by the European Union (EU) will have “minimal” impact on its ambitions to become a global digital assets and crypto hub.
‘Disastrous consequences’ on water lens development
A prominent attorney and conservationist is warning that New Providence residents will face “disastrous consequences” if the Government continues to permit development that impacts the islands’ fresh water lenses.
PM TOLD EU THREE TIMES: WE’LL RESOLVE CONCERNS – Accusations Gov’t ‘dropped ball’ on new blacklisting
The Prime Minister signed three letters promising the European Union (EU) that The Bahamas would address - within the required deadline - the very concerns that have resulted in the country’s imminent ‘blacklisting’.
DEREK SMITH: How information and cyber security team
Over the past five years, the increase in data breaches, ransomware, legislation and third-party requirements have compelled companies to recognise the importance of comprehensive information security (infosec) and cyber security strategies.
Jitney drivers 'disappointed' over gas price relief wait
Jitney drivers yesterday said they were "disappointed" that the relief package promised by the Government in July to help combat high gas prices has yet to materialise.
Dollar on the rise
ActivTrades
What a stock market week. The euro reached a new 20-year low on Friday, while the yield on the ten-year Bund tested the 2 percent mark for the first time in nine years. The euro’s exchange rate fell to $0.97, while the yield on ten-year Bunds caught on around 1.95 percent after rising to 2.01 percent at the start of trading.
Investors ‘get wise’: RF funds up $60m
A Bahamian investment bank yesterday said total assets under management in its local currency mutual funds have increased by $60m year-to-date as investors “get wise” to the negative returns on bank deposits.
Minister and ex-PM voice concern on $63m project
A sitting Cabinet minister and former prime minister have both voiced concerns surrounding “problems, problems, problems” with the proposed $63m Adelaide Pines project in which Albany’s developer is a minority shareholder.
End ‘finger pointing’ over Fiscal Council
A Fiscal Responsibility Council (FRC) member yesterday demanded an end to “political finger pointing” over its failure to deliver timely reports and called on both major parties to instead “get to the root of the matter”.
Adelaide developer: Don’t ‘drop bomb’ on our costs
A Bahamian businessman yesterday warned he and his partners might have to “shelve” a $63m New Providence project if “prohibitively expensive” changes and conditions were imposed after Wednesday’s planning consultation.
Super Value chief: Retain food store mask mandate
Super Value’s principal yesterday urged the Government to maintain the COVID mask mandate for supermarkets and prevent the sector from becoming “the number one spreader” of the virus.
BISX-listed firm pledges qualified audit ‘clear up’
A BISX-listed company’s top executive yesterday pledged that accounting woes which led to auditors issuing a “qualified” opinion on its 2021 full-year results will be “cleared up” in time for this year’s report.
Don’t bail-out stricken parents, banks warned
Bahamian financial institutions were yesterday ordered not to bail-out financially stricken parents or affiliates as part of the “recovery plans” they have to submit to the Central Bank by mid-2023.
‘Best bang for dollar’ to counter rate hikes
The Bahamas must give all visitors “the best bang for their dollar and ‘A’-plus customer service” as the most effective counter to inflation and continuing US interest rate hikes, a senior tourism official said yesterday.
