Towing fare increase could heighten risks
Automotive repair shops yesterday voiced concern that the 67 percent, or two-thirds increase, in standard towing fees could prompt Bahamians to take more risky measures to move broken down vehicles.
West Bay Street development’s rental rates 20% above target
A residential West Bay Street development was yesterday said to be more than 95 percent sold with rental rates some 20 percent higher than projected.
Gov’t pledges law change over its $233m borrowing
The Government has promised to change the law to facilitate its “use” of $233m in International Monetary Fund special drawing rights (SDRs) that have for the past 16 months boosted The Bahamas’ foreign reserves.
US airlines: We’re paying five times Bahamas costs
Major airlines allege they are paying “more than five times” what it costs The Bahamas to provide air navigation services to them amid demands that sanctions be imposed on local carriers flying to the US.
‘Collusion’ document contradicts such claim
FTX’s Bahamian liquidators are asserting that the document being cited as evidence of this country’s alleged collusion with Sam Bankman-Fried sparked the very court action that led to his removal.
Tax crackdown threat for Business Licence renewal
Bahamian companies will have their 2023 Business Licence renewals withheld if they fail to comply with the Government’s crackdown on tax dodging commercial property landlords, it was confirmed yesterday.
FTX US chief ‘in contempt’ over Bahamian court order
The Securities Commission’s top executive has accused FTX’s US chief of being “in contempt” of the Supreme Court by blocking access to the collapsed crypto exchange’s cloud-stored system and digital assets.
Minister: No ‘sweeping lay-offs’ from minimum wage increase
A Cabinet minister yesterday voiced confidence “there won’t be sweeping lay-offs” as a result of the 24 percent minimum wage increase despite previous warnings by petroleum retailers that they ma be forced to terminate staff.
Gas stations to ‘manage’ minimum wage increase
Petroleum retailers yesterday the minimum wage increase was something they “all have to manage” as they continue to push for a change to the industry’s fixed-margin business model.
Fears over slow response to ship sinking
THE Onega Traveller ship leaking oil off the coast of South Abaco is a threat to fishing grounds as clean-up crews do not have all of the equipment necessary to contain it, an Abaco business leader has warned.
Bahamas warning of ‘US airspace ban’
A BAHAMIAN aviation operator has warned that a ban on Bahamian-based flights entering the US “cannot be accommodated” and warned of the danger of a dispute between US airlines and the Bahamas government escalating.
FTX claim over $300m in assets
THE new ownership of FTX has accused the joint provisional liquidators (JPL) in The Bahamas of conspiring with the Securities Commission of The Bahamas (SCB) in hiding $300m in assets during the liquidation process.
BPL charging customers ‘against the law’ says FNM
FNM leader Michael Pintard said Bahamas Power and Light (BPL) is now charging consumers “against the law” after government botched the fuel hedging strategy left in place by previous administration.
A massive U-turn in China
ActivTrades
Having maintained a strict zero- COVID policy for almost three years, the Chinese government had become a prisoner of it. The strategy was designed to address the low vaccination rates of the elderly population (80 million people aged 80+ years are not vaccinated and 44% of the population did not receive the third dose, this percentage rising to 60% among people aged 80+ years). And, although studies in Hong Kong comparing CoronaVac with BioNTech’s vaccine have not been conclusive, the Chinese government did not seem to have much confidence in the degree of immunity provided by their own vaccines.
Commission denies claims by FTX’s chief executive
The Securities Commission of The Bahamas has denied allegations of directing the failed crypto-exchange FTX to mint $300m tokens prior to its collapse.
