Gov’t told: ‘Come clean’ on Grand Lucayan sale
A former Grand Lucayan chairman has urged the Davis administration to “come clean” with the Bahamian people over its efforts to sell the resort after it last week granted a third extension to the buyer’s due diligence time.
Club Med reopening gives 250 jobs boost
SAN Salvador’s Club Med resort will generate 250 jobs when it reopens on October 22, with the Prime Minister yesterday disclosing that the resort chain has invested “north of $5m” in renovating the property.
PM urged: ‘Put money where mouth is’ over Abaco rebuild
Abaco’s Chamber of Commerce president yesterday urged the Prime Minister to “put his money where his mouth is” following strong indications the Government is leaning away from a “blanket” renewal of Dorian-related tax breaks.
Bahamasair targets four aircraft addition
Bahamasair plans to expand its fleet by four aircraft come summer 2023, it was revealed yesterday, as a senior executive voiced concern about “inconsistent” runway approach lighting at Abaco’s main airport.
$185m carbon credit boost for post-Dorian restoration
The Bahamas could generate up to $185m in revenues from the sale of carbon credits to finance the restoration of 11,000 hectares of mangroves destroyed by Hurricane Dorian, a marine scientist said yesterday.
‘Break free’ from $500m deficits, 1% GDP growth
A Cabinet minister yesterday warned The Bahamas “has to break free from this cycle” of $500m-plus fiscal deficits and economic growth that has barely averaged 1 percent for the past 30 years.
Grand Lucayan buyer in new seven-day extension
The Grand Lucayan’s Board was last night said to have granted the resort’s prospective purchaser a further seven-day extension so that it could assess “outstanding matters” relating to the $100m deal.
IAN FERGUSON: How businesses can survive frugality calls
Business frugality is essential for survival. With supply chain issues continuing to plague many industries, and inflation still surging, business owners (especially the most vulnerable among us) must find ways to save. This week’s column focuses on ten ways a business can go the extra mile to save a dollar.
Bank client switch raises questions
A Central Bank-appointed administrator has transferred former Lucayas Bank (PIB) clients, and their assets, to another Bahamas-based institution whose ultimate principal has since been charged with bribery in the US.
Title fraud blocks $29m Exuma deal
The purchase of two Exuma cays, worth a collective $29m, by a US investor has been overturned by the Supreme Court which found the Bahamian vendors obtained ownership of the islands via fraud.
Ex-minister’s son denies land fraud
A former Cabinet minister’s son yesterday vehemently denied allegations that he played a key role in a land fraud conspiracy involving two Exuma cays worth a combined $29m.
Key City Markets pension asset faces decade tie-up
A trustee for City Markets employee pension fund yesterday warned that the dispute over its main asset “must be resolved out-of-court” otherwise it will be tied up in litigation for another decade or more.
Union chief hails ‘very good Gov’t marriage’
A trade union leader yesterday hailed “the very good marriage” that presently exists between the Government and organised labour, adding: “We’re trying to get our country back to where it used to be.”
Hubert Edwards: Executive chairs at SOEs are a ‘no go’
Corporate governance, which rests on the principles of accountability, transparency, fairness, responsibility and risk management, is essential to well-run companies.
Bahamas in ‘better place’ for digital asset regulation
A FORMER Bahamas Financial Services Board (BFSB) chief executive yesterday asserted this nation had “no choice” but to regulate the digital assets industry and was now in a “better place” for doing so.
