Local Business


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$50m Arawak Cay project targets ‘Tesla-like’ impact

A Bahamian former professional basketball player is investing $50m in an Arawak Cay manufacturing facility he hopes will enable this nation to become “a leader in the field” of climate-resilient construction.

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Cruise port’s $138m refinance eyes millions in cost savings

Nassau Cruise Port yesterday disclosed it is aiming to slash annual debt servicing costs by several million dollars through refinancing the $138m bond debt that kickstarted its transformation at COVID’s peak.

GBPA must ‘get out of the way’ if can’t fulfil mandate

A 50-year Freeport licensee today calls on the Grand Bahama Port Authority’s (GBPA) owners and Hutchison Whampoa to either finally live up to their development obligations or “get out of the way”.

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Gov’t and insurers battling over VAT medical cost rise

The Government and insurance industry last night traded blows over fears that Bahamian healthcare costs will further increase due to a new VAT treatment set to take effect from April 1, 2023.

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Hayward backs bid to ‘reimagine’ GBPA

A Hayward family member yesterday pledged “an ambitious masterplan for change” to create “thousand of jobs” in Freeport as he backed efforts “to reimagine and revolutionise” the Grand Bahama Port Authority (GBPA).

Gov’t warns US airlines: ‘You won’t bully Bahamas’

THE Government Wednesday warned the US airline industry that it will “not bully The Bahamas into surrendering its sovereignty” over assertions that this nation’s air navigation fees are excessive and unjust.

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Five-year verdict delay an ‘embarrassment to justice’

The Appeal Court’s president yesterday slammed the five-year delay in issuing a verdict on a $115,489 pension theft dispute as “an embarrassment to the administration of justice in this country”.

Appeal justice backs Condo Act reform call

An Appeal Court justice this week backed calls by a Supreme Court counterpart for reforms to the Condominium Act that will remove potential obstacles to the resale of units in such complexes.

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FTX’s Bahamas creditors say minimal sums owed

Multiple Bahamian companies identified as FTX creditors yesterday asserted that the purported sums owed to them were minimal to non-existent.

Snacks providers seeking more sugar, salt tax detail

AN ICE cream parlour yesterday said it is “getting into the swing” of things for 2023 despite talk of the Government implementing new taxes targeting sugar and salt.

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Super yacht ambitions to boost cruise port margins

Nassau Cruise Port’s chief executive is optimistic that its “super yacht destination” ambitions and full opening will significantly improve operating income margins that are currently among its parent’s lowest.

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FTX US chief moves to ratify Bahamas co-operation deal

FTX’s US chief last night moved to ratify the co-operation agreement thrashed out with the crypto exchange’s Bahamian joint provisional liquidators to end two months of bitter public clashes.

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Fiscal Council’s reports ‘not a flip of the switch’

A Fiscal Responsibility Council member yesterday said there was nothing sinister about the body’s delayed publication of two key reports, and asserted: “This is not a flip of the switch.”

BID is ‘missing piece’ of downtown’s puzzle

The Downtown Nassau Partnership’s (DNP) co-chair says the creation of an authority to truly manage the city is “the missing piece of the puzzle” with his group having achieved “80 percent of what we set out to do”.

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‘Good time to be a seller’, says realtor

A Bahamian realtor yesterday said it is a “good time to be seller” as the demand for properties valued under $500,000 has generated numerous inquiries from prospective purchasers.