MARINA SALE A HUGE BOOST FOR FREEPORT: US developer buys Port Lucaya for 200 condo/hotel project
A well-known Freeport marina is “under contract” to be sold as part of a deal involving construction of a new 200-unit condo hotel, Tribune Business confirmed yesterday.
Pharmacist warns on drug prices inflation
Pharmaceutical drug prices may go up by 4 percent this summer due to a combination of increased global demand and rising supply chain costs, it was revealed yesterday.
Disaster chair: No one ‘deliberately negligent’
The Disaster Reconstruction Authority’s (DRA) ex-chairman yesterday said he does not believe any of its staff were “deliberately negligent” as allegations continue to swirl around its performance.
FOCOL’s $24m fossil fuels ‘game changer’
FOCOL Holdings temporarily increased its bank overdraft by 247 percent to finance “a game changer in our transformation” to beat reduced fossil fuels usage, its chairman has revealed.
BOB chief: ‘Formula we don’t really want’
Bank of The Bahamas’ managing director says a shrinking loan book, combined with rising deposits and cash, is “a formula you don’t really want” for sustained long-term profitability.
PM denies union’s Cable pre-election pledge fears
A trade union leader yesterday voiced doubts that the Prime Minister will live up “a pre-election commitment” to bring BISX-listed Cable Bahamas to the negotiating table.
Build, build, build, stop!
ActivTrades
ERNEST Hemingway once wrote that bankruptcies happen gradually, and then suddenly. Such words seem appropriate to describe the fate of Evergrande, one of China’s largest real estate developers, which appears set to default on debt interest repayments.
Gov’t targets early Club Med re-open
The Government was yesterday said to be working with Club Med in a bid to ensure its San Salvador resort re-opens earlier than late 2022 and sparks “a 180-degree turn” in the island’s economy.
The latest ‘armed robber’ generation
READINESS, response and recovery cannot be left to chance. The delivery of a comprehensive security protection programme demands planning, co-ordinated implementation and consistent oversight.
Oil explorer relegates Bahamas to ‘non-core’
AN OIL explorer has downgraded The Bahamas to a “non-core” jurisdiction and closed its office in this nation after its first exploratory well failed to strike commercial quantities of ‘black gold’.
Price controls useless to fight ‘staggering’ inflation
Price controls will “do nothing” and prove useless against the “staggering” cost increases facing all Bahamians after US inflation yesterday surged to a 40-year high, a businessman is warning.
Money lenders facing regulatory crackdown
A crackdown that aims to reverse “non-existent” consumer protection from unregulated money lenders will take effect in the 2022 second quarter, the Securities Commission’s top executive says.
Bahamas needs ‘total energy transformation’
The Bahamas’ requires “nothing short of a total energy sector transformation” to revive its economy post-COVID but faces massive “barriers” to achieving this, a multilateral lender has warned.
Baha Mar supervisor loses dismissal fight involving drunk guest
A Baha Mar security supervisor lost his claim for wrongful and unfair dismissal against the mega resort after he videoed efforts to subdue a violent, drunken guest.
IDB’s 37% digital woe ‘totally different’ now
A digital payments provider yesterday said a survey that found 37 percent of Bahamian firms have challenges accessing electronic payments would have “a totally different result” if done today.
