Opposition encourages Auditor General $400m contracts probe
The Opposition’s leader yesterday voiced optimism that the Government’s financial watchdog will “look closely” at what he alleged is nearly $400m worth of public sector contracts awarded without competitive bidding.
‘Ton of potential’: Out Island bookings near term ahead by 4%
Average occupancy rates of 42-45 percent mean Family Island resorts have “a ton of potential for growth”, a senior tourism executive said yesterday, with short-term airline bookings up 4 percent through August.
Long Island ‘tired of being tricked, fooled by white elephants’
Long Island residents are “tired of being tricked and fooled with white elephants”, the island’s MP asserted yesterday, as he challenged whether the $250m Calypso Cove cruise port will ever become reality.
PM: 10% Bahamian export tariff not in US discussions
THE Bahamas’ anti-money laundering and counter financial terrorism regimes were discussed during high-level talks with the US, Prime Minister Philip Davis said yesterday.
‘Top ten’ captive managers eye Bahamas for business
Upcoming legal reforms could attract two of the world’s top captive managers to domicile “a good portion of their business” in The Bahamas and “open the gateway” for insurance to become a new “economic pillar”.
PI development targets construction start in ‘25
A Paradise Island project’s developers last night said they plan to start construction at the presently-vacant site opposite both Comfort Suites and the Atlantis employee parking lot this year.
‘Bypass the bureaucracy’ to drive stopover visitor growth
The Opposition’s finance spokesman yesterday urged the Government to “bypass the bureaucracy” and speed-up approved hotel projects amid fears a room shortage is contributing to the stopover visitor decrease.
‘Back to drawing board’ on stopover visitor drop
The Bahamas will likely endure “subdued” stopover visitor numbers in 2025, a major bank has warned, with a former tourism minister yesterday urging the nation to “go back to the drawing board” in this segment.
Sales forecast to ‘explode’ at Windsor Lakes project
Realtors yesterday predicted residential sales at a south-western New Providence development will “explode” once roads and other infrastructure are completed with a further $27m in gross income forecast.
Contractor chief estimates $5m-$10m city fire damage
The Bahamian Contractors Association’s (BCA) president yesterday estimated the property damage and loss caused by last week’s downtown Nassau fire as ranging from $5m to $10m.
Mortgage delinquent cuts BOB damages by $100k
A delinquent mortgage borrower has successfully slashed the damages awarded to a BISX-listed bank by more than $101,000 after the Supreme Court deemed the ‘penalty on interest’ to be “impermissible”.
Broker/dealer ordered to pay $850,000 over e-mail fraud
A Bahamian broker/dealer has been ordered to pay $850,000 plus interest in compensation to a trustee and its client after all fell victim to an e-mail fraud that caused a $1.5m loss.
GB Shipyard names new chief executive
Grand Bahama Shipyard has named Chris Earl, a retired rear admiral in the Royal Canadian Navy, as its new chief executive with effect from yesterday as it proceeds with its $600m expansion drive.
Ex-Abaco Chamber chief blasts downtown Nassau fire response
A former Abaco Chamber of Commerce president yesterday questioned how the island’s volunteer fire fighters will be compensated as she blasted the response to last week’s downtown Nassau fire.
Abaco blazes branded resident ‘wake-up call’
Abaco residents and businesses yesterday described the recent fires that erupted on the island a wake-up call for greater precautions and readiness to be taken in future.
