Ex-GBPA chair loses $82k claim strike out
A former Grand Bahama Port Authority (GBPA) chairman’s bid to be removed as a defendant in an $82,300 claim brought by three ex-employees of his insolvent BISX-listed company has been rejected by the Supreme Court.
Compass Point restaurant to follow resort into closure
COMPASS Point’s restaurant will close at the end of July, its proprietor confirmed yesterday, following the previous shuttering of the resort.
Gov’t’s ‘Fintech festival’ aiming to attract 3,000
The Government is planning to stage an “international Fintech festival” that will attract 3,000 industry executives to The Bahamas early next year and further boost this country’s digital asset ambitions.
Business ‘blows up’ at Family Island resorts
The Bahamas Out Island Promotion Board’s (BOIPB) president yesterday said business for its member properties has been “blowing up” ahead of the traditional summer slowdown.
Gov’t eyes double return on ‘harsh health realities’
The Government plans to solve “the harsh realities” of Family Island healthcare by doubling the number of new and renovated clinics that will be overhauled via $45.5m in development financing.
‘Stagnant’: Fears for auto sales until 2023
Auto dealers fear new car sales will be “stagnant” for at least another year with global supply chain disruption causing order backlogs of up to 200 vehicles for some operators.
Marinas seek charter clarity amid fear of 20% increase
Bahamian marinas are seeking clarity on whether the 10 percent VAT on foreign yacht charter contracts will be levied on pre-existing deals come July 1 amid fears this will be “a tough pill to swallow”.
COVID rebound uneven for Family Island resorts
Family Island resorts have recovered to 80 percent of pre-COVID business volumes, a senior tourism official has revealed, but the rebound remains uneven because of airlift woes impacting some locations.
Bust or deflated
ActivTrades
ACCORDING to experts, the cryptocurrency Bitcoin is entering its lowest and darkest market phase. The price of Bitcoin fell to its lowest level since December 2020 on Wednesday, and even hit $20,000 for a short time. The oldest digital currency was trading at around $20,500 on Friday, June 17.
Over $1.2m provided to Andros farmers, fishing
The Small Business Development Centre (SBDC) says it has facilitated some $1.216m in financing for 57 farming and fishing entrepreneurs in Andros.
Vacation homes, retail driving Andros growth
The Andros Chamber of Commerce president says the island experienced “significant growth” in 2021 with vacation homes and the retail sector leading the way.
DEREK SMITH: ‘Box checking’ no security guarantee
A new era of technology-based businesses has begun. Technology is used for every aspect of business, from accepting client instructions electronically to processing credit cards, accepting wire transfers and storing employee and customer information. Simply put: Any business requirement can be met with technology.
‘Options limited’ over relief for gas dealers
The Ministry of Finance’s top official yesterday said the Government’s “options are limited” in providing the relief sought by petroleum retailers struggling with gross margins of 10 percent or less.
‘No break’: Property cover to stick near all-time high
A Bahamian insurer yesterday warned “there’s just no scope for a break” on property insurance prices that are “pretty close” to all-time highs following double-digit percentage increases last year.
Bahamas must get youth for ‘leg up’ on Caribbean
The Bahamas was yesterday urged to start a youth movement so it can grow - for “generations to come” - a flats fishing industry likely to have expanded far beyond its $141m economic impact in 2010.
