RBC’s 3-day digital woes an ‘absolute catastrophe’
Royal Bank of Canada (RBC) yesterday pledged it is “working diligently” to restore its digital banking platform with businesses branding the three-day woe as “an absolute catastrophe” for commerce.
‘FTX BAHAMAS CHIEF CONFESSED TO FRAUD’: Securities Commission director says admission led to liquidation move
The head of FTX’s Bahamian subsidiary sparked an “urgent” police probe into possible criminal misconduct when he confessed to local regulators about the misuse of multi-billion dollar client funds.
Abaco project generates $60m sales in one year
A HIGH-END Abaco resort project was yesterday said to have generated more than $60m in real estate sales in little over a year as its build-out gathers pace following the COVID-19 pandemic’s easing.
Bahamian liquidators pledge $100m FTX payout recovery
FTX’s Bahamian provisional liquidators yesterday pledged to “claw back” the $100m payout to 1,500 Bahamian clients as they blasted the failed crypto exchange’s US chief for “inflaming and untrue” statements.
Treasure Cay ‘one missed pump away from sewerage nightmare’
TREASURE Cay homeowners yesterday complained they still lack a proper sewerage system more than three years after Hurricane Dorian despite contributing “hundreds of thousands” to the Water and Sewerage Corporation (WSC).
US prosecutor confident on Bankman-Fried case
US PROSECUTORS yesterday voiced confidence they have sufficient evidence to convict FTX’s embattled founder, Sam Bankman-Fried, on charges that he “misappropriated billions of dollars of customer funds”.
Bay Street demolitions to boost Downtown’s revival
THE Deputy Prime Minister yesterday said the Government has demolished five derelict Bay Street properties over the past year to make way for downtown Nassau’s revival.
FTX’s US chief hits PM, AG over ‘total stonewall’
FTX’s new US chief has accused the Prime Minister and Attorney General of “a complete stonewall” over his push for The Bahamas to embrace the US legal system as the primary venue for solving the collapsed crypto exchange’s woes.
‘Shut down’ on FTX $300m Bahamas assets safeguard
FTX’s Chapter 11 chief yesterday alleged to the US Congress that efforts to obtain “clarity” over the Securities Commission’s action to safeguard $300m in client assets had been “shut down” by The Bahamas.
Bran: New pharmaceutical price controls are ‘a stretch’
A former Democratic National Alliance (DNA) leader yesterday said coping with the pharmaceutical industry’s new price control regime was “certainly a stretch” as it had left his family’s business operating at a loss.
SBF deal with Deltec chief’s US bank ‘highly irregular’
FTX’s new US chief yesterday confirmed he is probing a “highly irregular” transaction with Bahamas links where Sam Bankman-Fried’s hedge fund paid an “off the charts” sum to buy into a small American bank.
National debt shrinks - but only falls $21m
The Bahamas’ national debt enjoyed its first quarterly contraction for years during the three months to end-September 2022, the Central Bank revealed yesterday, although the decline was a modest $20.7m,
Bahamas battles for control over $256m FTX properties
A major legal battle was brewing last night for control of $256.3m worth of Bahamian real estate assets as FTX’s local liquidators sought to extract them from Chapter 11 bankruptcy proceedings in the US.
Minnis blames Christie Gov’t for Oban debacle
Dr Hubert Minnis yesterday sought to blame the last Christie administration’s failure to conduct “proper due diligence” for the $5.5bn Oban oil refinery debacle, while admitting that his government “took the hit”.
Central Bank’s waiver drives $202m sovereign debt boost
Incentives that sparked almost $202m of local investor demand for The Bahamas’ US dollar bonds has been “very, very significant” in driving an international debt turnaround, a senior official said yesterday.
