Govt fails to escape $25m bond default suit
The Government has failed to extract itself from a furious legal battle sparked by accusations that its failure to make due rental payments on the Eight Mile Rock administrative complex has caused one of its first-ever public-private partnership (PPP) deals to default on a $25m bond.
MSC’s Lucayan deal ‘is going to save Freeport’
Grand Bahama tourism operators yesterday hailed Mediterranean Shipping Company’s (MSC) role in the Grand Lucayan’s transformation as a deal that is “going to save Freeport” with the revamped property’s two ‘cruise resorts’ forecast to attract more than one million visitors annually.
Iran war may ‘significantly erode’ Bahamian growth
The Central Bank yesterday warned The Bahamas’ 2026 economic growth prospects may “significantly erode” if the Middle East war becomes protracted although it reassured that this nation’s $2.898bn foreign currency reserves “provide a meaningful cushion” for increasingly expensive fuel imports.
New Rosewood Exuma fight over ‘secret permit carve out’
The $200m Rosewood Exuma project’s leading opponent is accusing its rival developer of using environmental approvals, granted for limited land preparation studies, as ”cover” to begin the construction of roads and other major infrastructure on Big Sampson Cay.
Petroleum retailers warn: ‘Nothing is going to be cheap'
Petroleum retailers yesterday warned that soaring fuel prices are expected to drive goods and services price increases across The Bahamas, as one asserted “nothing is going to be cheap” with gasoline forecast to climb above $6.50 per gallon.
DPM: German twinning deal opens up Europe commerce
The Bahamas is positioning itself to expand tourism, trade and airlift opportunities with Europe following the renewal of a town-twinning agreement with Nassau, Germany, the deputy prime minister said yesterday.
Gov’t speaks to Meta, TikTok over Bahamian creatives pay
The Government is negotiating with digital platforms such as Meta, TikTok and X in a bid to ensure Bahamian creators and influencers can be paid for their work, the Prime Minister said yesterday.
Judge boosts FTX liquidators over West Bay property’s sale
FTX’s Bahamian liquidators have been boosted in their quest to maximise real estate recoveries for creditors after a Supreme Court judge ruled they and others have “strong prospects of success” in defeating a claim that so far has blocked the sale of a high-end West Bay Street property.
Opponents ‘appalled’ as $200m Exuma resort wins planning nod
The $200m Rosewood Exuma developer yesterday hailed the “renewed momentum” created by the planning authorities’ support and findings that it “represents a low-density resort model appropriate” for Big Sampson Cay - leaving its opponents “appalled” and “shocked”.
Exuma residents back progress on $200m Rosewood Exuma
BLACK Point and Staniel Cay residents yesterday voiced support for the $200m Rosewood Exuma project - and the jobs and economic impact it promises - after the Town Planning Committee gave “preliminary support” for its application for site plan approval.
‘Dire straits’: Lucayan’s electricity cut-off again
The Grand Lucayan’s electricity supply has been turned off for a second time, Tribune Business can reveal, with the resort now lacking both power and water due to unpaid billing arrears amid the wait for its sale to close.
TUC president launches Lucayan defamation writ
The Trades Union Congress (TUC) president yesterday said he has made good on his threat to sue the Government, and senior labour and investment officials, over assertions that he attended meetings and discussions over the severance packages for Grand Lucayan workers.
Minister: Bahamas’ US proximity will offset increasing travel costs
A Cabinet minister yesterday voiced optimism that The Bahamas’ proximity to its major visitor source market may offset the impact of higher travel costs caused by the Middle East conflict’s impact on fuel and oil prices.
Land surveyors renew foreign hirings concern Body
Bahamian land surveyors yesterday renewed concerns that expatriates hired by the Government to address the backlog of Crown Land applications are costing them jobs and income by doing private work on the side.
Skilled workers targetedas top Bahamian export
The Bahamas’ highly-educated workforce could become one of its biggest export assets, with officials eyeing professional services - from engineers to digital specialists - as part of a new national export strategy aimed at expanding the country’s presence in global markets.
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