Bank sold despite ongoing legal fight
A Bahamian bank’s sale has been confirmed by its statutory administrator despite his actions, and those of the Central Bank, being subject to a legal challenge that is ongoing before the Supreme Court.
Flowers ordered to pay ex-FML executive $120k
Craig Flowers’ FML web shop chain has been ordered to pay a former senior executive $120,000 plus interest after the Court of Appeal overturned a previous verdict relating to “irregularities” designed to inflate staff earnings.
Bahamas will ‘fight’ EU, OECD on digital assets
The Bahamas will likely have “to fight” the European Union (EU) and Organisation for Economic Co-Operation and Development (OECD) to preserve its digital assets leadership, the Opposition’s leader warned yesterday.
Bran’s law firm receives $62.5k on Gibson case
The Democratic National Alliance’s (DNA) former leader yesterday accused Adrian Gibson of “costing the Bahamian people an extra $22,500” after the Water & Sewerage Corporation settled the full amount of his law firm’s claim out-of-court.
Electrical retailer in zoning clash with major developer
A major New Providence developer is objecting to an electrical retailer’s bid to rezone five acres it owns near Lyford Cay to commercial, which it argues will aid the property’s sale and fetch a higher purchase price.
A ‘poisoning of the well’ on COVID food initiative
The Opposition’s leader yesterday accused the Prime Minister of committing a “poisoning of the well” by “drip feeding” Bahamians assertions about the COVID food assistance initiative that were not yet supported by evidence.
BOB shedding ‘haunted’ past with 20% growth goal for ‘23
Bank of The Bahamas top executive yesterday asserted it is moving beyond the bail-outs that “will forever haunt” the institution with predictions it will grow this year’s forecast $7m profit by a further 20 percent in 2023.
Shed tax haven label for digital assets win
The Bahamas will lose its position as a digital assets leader and the potential economic “upswing” if it fails to shed its ‘tax haven’ label, a Bahamian financial services provider warned yesterday.
Gov’ts ‘flat-out concealing’ millions in contract awards
The Opposition’s leader yesterday hit back at the Davis administration for “flat-out concealing” millions of dollars in contracts it has concluded since taking office by failing to comply with the Public Procurement Act.
Water & Sewerage supplier eyes expansion despite $18.5m debt
The Water & Sewerage Corporation’s main supplier is eyeing potential expansion possibilities on New Providence notwithstanding the $18.5m debt that the state-owned utility continues to owe it.
Kalik maker: Product shortages ‘inevitable’
Kalik’s manufacturer has continued to warn that product shortages and price hikes are “inevitable” due to continued supply chain disruptions post-COVID despite generating $1.3min profits for the 2022 first quarter.
HUBERT EDWARDS: The low growth, high debt trap
In the first article we assessed some of the consequences from a high, and growing, national debt. With The Bahamas’ debt-to-GDP ratio expected to remain above 80 percent over the mid-term at least, the question that dominates is the extent to which this is sustainable.
Gov’t in Potter’s Cay fire station plan
A Cabinet minister yesterday said the Government is exploring the construction of a fire station at Potter’s Cay following the devastating blaze that destroyed six vendors’ stalls last year.
Airlift top priority for South Andros
The South Andros Chamber of Commerce president yesterday said improving airlift to the island remains the highest priority for its economy.
Fraudsters plunder $2m through bank’s blunder
A Bahamian financial institution’s “serious error and negligence” resulted in fraudsters plundering more than $2m from one of its client’s accounts, the Supreme Court has revealed.
