‘Egregious conduct’: Ex-PLP MP faces law profession axe
A former PLP MP and Senator faces being disbarred from the Bahamian legal profession over “the most serious and egregious” conduct related to client monies that were to pay $116,300 in due taxes.
‘Every 100 migrants cost taxpayers $500k’
The Ministry of Finance’s top official has voiced fears that the migration crisis could “throw our Budget off completely” with taxpayers incurring an additional $500,000 in costs for every 100 new arrivals reaching Bahamian shores.
DEREK SMITH: Make best strategic use of your Board’s directors
CORPORATE governance has been transformed over the past century from an ‘old boys clubhouse’ to a strategic asset focused on preparing a company to withstand future volatility in markets, human capital, competition, money laundering, cyber crimes and other factors. According to Forbes contributor Betsy Atkins: “When we look back five years from now, governance 4.0, the era of future-proofing, will seem the obvious thing we should have embraced sooner.”
Atlantis concern over cruise line’s PI environment impact
AN ATLANTIS executive says the Paradise Island mega resort has concerns over how Royal Caribbean Cruise Lines (RCCL) plans to mitigate any environmental risks resulting from its proposed Beach Club project.
Cotton Bay revival targeting $12m yearly wage, tax boost
REPRESENTATIVES of the developer behind the Cotton Bay Club’s $200m revival have forecast that the project will generate an annual $12m economic impact in wages and taxes alone when fully operational.
Rumour has it
ActivTrades
The ups and downs in the international markets continued last week. Robust economic data fuelled concerns about interest rates but, at the same time, consumer activity remained strong. This created a dilemma for many investors.
Fidelity targets $25m annual profits despite 2022’s miss
Fidelity Bank (Bahamas) is targeting $25m in net profits for 2023 despite failing to achieve the same goal last year, its top executive revealed yesterday.
Cable’s $10.69m profits swing amid refinancing drive on Aliv
Cable Bahamas yesterday unveiled a positive $10.69m bottom line turnaround for the first half of its 2023 financial year despite encountering frustration over the pace of Aliv’s debt refinancing.
Bahamas liquidators set to access ‘elusive’ FTX data
FTX’s Bahamian liquidators believe they will soon gain access to critical records that have “so far eluded them” while avoiding the risk of costly and time-consuming legal battles in Delaware.
Digital provider calls for Bahamas CSME sign-on
A digital payments provider yesterday argued that the Bahamas should join the Caribbean Single Market and Economy (CSME) to break down barriers facing local firms seeking to expand into the region.
Lease setback strikes PI lighthouse entrepreneur
A Bahamian entrepreneur battling to restore Paradise Island’s lighthouse yesterday suffered a setback in his fight with the Government and Royal Caribbean after the Supreme Court found he does not possess a valid Crown Land lease.
IAN FERGUSON: Why we must cherish our small businesses
Here are seven reasons to support micro and small businesses.
Digital payments ‘not as robust’ despite 30% rise
The Bahamian use of digital payments is “not as robust as we’d like to see” yet, one provider asserted yesterday, even though the volume of transactions it processed increased by 30 percent in 2022.
Bahamas ‘big part of the FTX puzzle’
FTX’s Bahamian operation was yesterday branded “a big piece of the puzzle that needs to get resolved” as its provisional liquidators successfully obtained US legal recognition for their ongoing investigations.
Construction work permits ‘shifting in wrong direction’
The “balance” between Bahamian and foreign labour in the construction industry has “started to shift in the wrong direction”, a prominent contractor is arguing, while calling for a halt to all general labour work permits.
