Royal Caribbean to start PI construction this week
Construction of Royal Caribbean’s $100m Paradise Island beach club should begin this week, it was revealed yesterday, with 95 percent of site preparation and demolition now complete.
BTC middle managers gain 10% base pay rise
Middle managers at the Bahamas Telecommunications Company (BTC) yesterday signed an “historic” industrial deal that includes a 10 percent base pay increase over its four-year term.
Resort developer eyes ‘long haul’ tripling to six
A Bahamian resort entrepreneur yesterday revealed plans to triple his boutique network to “five and six in the long haul” amid hopes that imminent airport upgrades will make “one plus one equal three”.
Royal Caribbean PI IPO pushed back into 2025
The opportunity for Bahamian investors to acquire an ownership interest in Royal Caribbean’s $110m Paradise Island project has been pushed back to early 2025, it was revealed yesterday.
‘Cart before the horse’ over $377m FTX Bahamas fight
FTX’s Bahamas liquidators yesterday accused a failed crypto bank’s administrator of “putting the cart before the horse” in an escalating legal battle over a $377.419m claim against the collapsed exchange.
North Eleuthera airport ‘game changer if they can pull it off’
Resort owners and realtors yesterday hailed the securing of $55m for North Eleuthera Airport’s transformation as “a game changer if they can pull off a fully functioning” gateway to the high-end destination.
Rental car frustration over plates shortage
Multiple rental car owners yesterday voiced frustration at their inability to obtain insurance for vehicles, while still having to pay full franchise fees, due to a shortage of self-drive licence plates.
Former MP and judge facing assets seizure
Authorities were yesterday said to be moving to seize assets owned by an ex-MP and former Supreme Court judge in a bid to satisfy a multi-million dollar judgment obtained against him.
‘Magic mushrooms’ defendant in unlicensed crypto venture
A co-defendant in the much-publicised “magic mushrooms” case has also been operating an unlicensed crypto currency business from The Bahamas, Tribune Business can reveal.
Bahamian ‘over the moon’ at beating top developers
A BAHAMIAN engineer is “over the moon” that the planning authorities have rejected an appeal by two of New Providence’s largest developers that sought to halt his $20m project.
Sarkis ‘I’d have saved’ $500m if CCA told truth
BAHA Mar’s original developer would not have spent $500m on preparing for the failed March 2015 opening if he “had known the truth” that its main contractor was about to bust the deadline.
‘Remarkably favourable’ multi billion gain for FTX creditors
FTX’s Bahamian liquidators are asserting that the failed crypto exchange’s creditors and customers will enjoy “a remarkably favourable outcome” via a multi-billion interest gain while recovering all their principal.
CCA: Baha Mar fail ‘inevitable’ even if we met open deadline
BAHA Mar’s main contractor is alleging the project’s “insolvency was inevitable” even if the original March 27, 2015, opening deadline was met due to inadequate revenues and inability to access “key money”.
Sands challenges Gov’t over ‘cooking the books’ on deficit
THE Free National Movement’s (FNM) chairman yesterday challenged whether the Government “cooked the books” to bring last fiscal year’s deficit in close to its original $131.1m target.
Solution is ‘on the horizon’ for Company Registry woe
FINANCIAL services providers and corporate Bahamas were yesterday promised that resolution of payment “back-logs” and other woes with the new online Companies Registry portal is “on the horizon”.
