QC, husband embroiled in ‘cynical’ condo battle
A Bahamian QC and her attorney husband have voiced hope that lengthy legal appeals can be avoided in their battle with a Nassau condo complex, which has accused them of “cynical” behaviour over $222,302 in disputed fees.
Biggest VAT increase from restaurants with zero rating elimination
Restaurants will likely be the sector that produces the biggest increase in VAT payments due to the elimination of zero ratings and exemptions, the Ministry of Finance’s top official has predicted.
Economist omits IMF bail-out for Bahamas forecast after 2 years
A prominent Caribbean economist yesterday omitted predictions that The Bahamas will require an International Monetary Fund (IMF) restructuring programme for the first time since the COVID-19 pandemic began.
BAIC chair focuses on better local distribution
THE Bahamas Agricultural and Industrial Corporation’s (BAIC) executive chairman yesterday said the agency is focused on improving the distribution of local farm produce as a means to improve the country’s food security.
Delinquent mortgage buyer gives insurer $8m ‘windfall’
A Bahamian insurer yesterday said it is targeting a 15 percent profit increase for 2022 once the $8m “one-off windfall” it enjoyed last year from its investment in a delinquent mortgage buyer is stripped out.
Gov’ts $40m property tax arrears in ‘22 goal
The Government is on track to collect $40m in real property tax arrears in 2022, a top official has revealed, while pledging that there have been “lessons learned” from the recent New Providence-wide revaluation.
Tourism chief urges ‘all hands on deck’ to combat crime
A senior hotelier is calling for an “all hands on deck” approach to combating crime given that it poses “a major risk” to The Bahamas’ continued post-COVID tourism and economic recovery if not controlled.
Data breach hits Sebas’ ‘Amazon’
Sebas Bastian’s regional e-commerce platform yesterday revealed it has been hit by a data breach that “compromised” the credit card information of Bahamians and other nationalities across the Caribbean and Latin America.
Billionaire sues on $100k Atlantis COVID ‘windfall’
A billionaire US property developer is suing Atlantis, its owner and American Express over “an improper windfall” totalling $100,000 after he was forced to leave his yacht in the resort’s marina due to the COVID-19 lockdown.
Bahamas bond prices ‘don’t reflect investor confidence’
The Ministry of Finance’s top official is asserting that this nation’s bond prices “don’t reflect the confidence investors have in The Bahamas” and “a benchmark issue” may be needed to help address this.
Crypto Thieves
ActivTrades
FTX and SALT will jointly present a new event, Crypto Bahamas, that will debut this week from April 26-29 at the Baha Mar resort in Nassau. The invitation-only event will feature collaboration and networking among leading investors and builders in the digital assets industry.
‘SECRET PAYMENTS’ TO FORCE SARKIS OUT: Claim Baha Mar contractor gave money to government officials and their associates
Sarkis Izmirlian is alleging that Baha Mar’s contractor make secret payments to unnamed “government officials, their family and associates” as part of a scheme to force him out from the multi-billion dollar development.
Taylor Industries staff gain 33% of severance
Forty-one former staff of now-defunct Taylor Industries will receive just 33 percent of the total termination pay and benefits owed to them in what the company’s liquidator defended as “a relatively positive outcome”.
Arawak Homes ‘umbrage’ on former-PM’s criticism
Sir Franklyn Wilson yesterday said Arawak Homes “takes serious umbrage” with Dr Hubert Minnis’ assertion that a southern New Providence community it is developing is “set up for disaster” and was started without the necessary permits.
US to freeze PI ‘Raider’s’ $21m
US regulators have moved to freeze three Bahamian bank accounts owned by the Paradise Island “Raider” as they bid to seize $21.1m in “ill-gotten gains” generated by a $100m multinational securities fraud ring.
