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.
Registrar General’s digital ‘pilot’ in early 2023 launch
THE ATTORNEY General yesterday said the Registrar General’s Department will launch a “pilot” digital platform by the 2023 first quarter with the agency possibly being split into two separate sections.
Bahamas’ growth could drop-off to 2% by ‘24
THE CENTRAL Bank’s governor yesterday warned the Bahamian economy could return to its traditional annual growth rate of 2 percent or less as early as 2024.
Governor targets 1m Sand Dollar issuance
THE CENTRAL Bank’s governor yesterday said “steps” are being taken to draft legislation for the creation of the proposed movable collateral asset registry.
Gov’t hit over VAT assistance delays
The Government should “naturally expect the criticism” over its failure to introduce a key social support initiative in time to protect “persons on the margins” from a broad-based VAT, a banker argued yesterday.
No overnight flight crews in Freeport for 7-8 years
A Grand Bahama hotelier yesterday exposed the depths of the island’s tourism decline by revealing that no regular commercial airline flight crew has stayed overnight at his resort for around seven to eight years.
AML: $17m will create ‘real power destination’
AML Foods yesterday pledged to “create a real power destination” through a total $17m investment that will place its Solomon’s and Cost Right brands side-by-side at the former’s Nassau SuperCentre location.
City Markets retirees in fresh pension blow
Hundreds of City Markets pensioners were yesterday dealt a new blow after efforts to solve the legal quagmire blocking AML Foods’ $3.36m purchase of its former head office failed despite the latter “giving it a real go”.
TRAVEL BUDGET SOARS FOR GOVT: $11.8m spend exceeds allocation by 11%.
The Government’s travel spending yesterday ignited further Opposition attacks after it was revealed that the total $11.8m outlay for the 2021-2022 fiscal year exceeded Budget allocations by 11.1 percent.
Port sets July record on container volumes
Nassau’s commercial shipping port set a July record after container imports increased by more than 20 percent with its top executive yesterday confirming business volumes have rebounded to pre-COVID levels.
