Resorts World Bimini sale bid behind minority owner’s back
Resorts World Bimini’s minority owner is alleging its Malaysian partner sought to sell the hotel behind its back after realising it could no longer “conceal” the improper dumping of multi-million liabilities on its books.
Sarkis blasts CCA as ‘fraudulently managed’
Sarkis Izmirlian yesterday blasted Baha Mar’s contractor as “a company fraudulently managed by bad actors” while slamming the bankruptcy protection filing by its US arm as a bid to “evade responsibility for its actions”.
‘Best interest’ of all to protect hotels from Sarkis-CCA fight
Two downtown Nassau resorts will not suffer from their owner’s multi-billion dollar legal battle with Sarkis Izmirlian as it is in the “best interests” of all parties that they perform, the FNM’s chairman asserted yesterday.
Tourism revenue expansion to drive 20k coral fragment output
A $1m investment in a pioneering Grand Bahama project’s tourism attractions will drive increased revenues to finance planting more than 20,000 coral fragments annually to rescue the island’s reefs.
BPL fuel hike probe delays ‘raises suspicions, concern’
Delays to the probe into the legality of Bahamas Power & Light’s (BPL) 2022-2023 fuel tariff hikes, which soared by 163 percent in just eight months, “raise suspicions and concerns”, it was argued yesterday.
Female entrepreneurs defeat male rivals on funding return
Bahamian female entrepreneurs generate a greater return on investment than their male counterparts despite accessing on average 42 percent less funding, it has been revealed.
Mass strike warning: ‘We will fight as one’
A labour leader is warning that a mass union strike is “very possible.. at any moment” after all Trades Union Congress (TUC) affiliates agreed to act as a collective “unit” to resolve their workplace grievances.
Probe into legality of BPL’s 163% fuel hikes delayed
An investigation into whether Bahamas Power & Light’s (BPL) 2022-2023 fuel charge hikes, which soared by 163 percent in just eight months, were legal has been delayed until this year.
Economy ‘strain’ with 27% of Bahamians over 60 by 2050
The Bahamian economy and social safety net are set to come under growing “strain” as a result of an increasingly elderly population where more than in four citizens are aged over 60 years old come 2050.
CCA files in US for bankruptcy
TWO Nassau resorts, and their Bahamian holding entities, are not caught by yesterday’s “last resort” bid from Baha Mar’s contractor to protect its US arm from Sarkis Izmirlian’s “crippling” $1.6bn damages win.
Protecting casinos against financial crime exploitation
Casinos are high-risk institutions when it comes to exploitation by money launderers due to the volume of cash transactions, their global clientele, and the ease of blending legitimate funds with illicit proceeds.
Controversial cemetery proposal is dismissed
A SIX-YEAR battle over a controversial 13-acre cemetery proposed for Bernard Road has resulted in the developer’s application being dismissed by the planning authorities.
Balmoral’s $25m hotel appeal ruling labelled ‘win-win’
THE Balmoral Club’s president yesterday hailed the planning appeals Board’s decision to overturn rejection of its $25m condo hotel as “a win-win” for both developer and the community.
Bahamasair sick-out ‘couldn’t have been worse’ for its timing
The industrial action that yesterday grounded Bahamasair’s entire fleet “couldn’t have been worse” timed, tourism operators warned, with hundreds of visitors and Bahamians left stranded in the peak travel season.
‘Notable’ corruption surge amid $250m drug seizures
Domestic financial crime threats are “broadening” and “represent substantial areas of concern” after $250m worth of illegal drugs were seized in The Bahamas during the six-year period through 2022.
Previous Next
