| The Tribune

FTX real estate sell-off can’t cover $256m debt

The sell-off of FTX’s high-end properties “will not be sufficient” to fully repay the $256.3m debt owed to the crypto exchange’s Bahamian subsidiary, it has been asserted.

Baha Mar sought deal on Chapter 11 file day

Baha Mar has revealed it made an unsuccessful last-ditch effort - on the day it filed for Chapter 11 bankruptcy protection - to persuade its contractor to make the $15 million equity investment necessary to unlock the remaining construction financing.

Mitchell lectures Loretta Butler-Turner on good manners

THIS weekend, the services of Elcott Coleby of Bahamas Information Services, whose salary is paid by Bahamian taxpayers to distribute news about the Bahamas, was used by Foreign Affairs and Immigration Minister Fred Mitchell to distribute to the press his party’s political propaganda given in a speech at Long Island. We hope that the PLP paid for these services from its own party’s coffers, and not from the Public Treasury.

'High fraud risk' as $108m taxes still due

The Government failed to collect almost $108 million in due real property taxes during the 2011-2012 Budget period, a sum equivalent to almost 25 per cent of that year’s fiscal deficit.

Baha Mar blames BPL for $8.5m hit to profits

Baha Mar yesterday warned that soaring energy bills will “have a significant impact on our profitability” for 2023 by adding an extra $8.5m to its full-year operating costs.

DIANE PHILLIPS: A possible solution for Bahamians to benefit in the hospitality industry

Created just 15 years ago by two friends who rented out an air mattress on their floor when a major event sucked up all the hotel rooms in San Francisco, Airbnb has turned the short-term vacation industry on its head.

$100m tourism boost via 18% stopover rise

The Minister of Tourism has hailed an “exceptional” 18 percent air arrivals increase for injecting an extra $100m into the economy during the 2018 first quarter.

'Innovative' tax thinking praised by BICA chief

A top accountant has praised the government’s “innovative thinking” in seeking to collect real property tax through attaching it to the monthly payment of utility bills.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, told

Sports in brief

THE Baptist Sports Council is scheduled to hold its 2013 Track and Field Classic at the Thomas A Robinson Track and Field Stadium 10am Saturday. The event will feature all of the categories for boys and girls, including five-and-under, open and master.

Chris Brown invitational to attract world-class athletes

MARK the date down: Saturday, April 13. The event: the Chris Brown Bahamas Invitational. The venue: The new Thomas A Robinson Track and Field Stadium.

Major opponent: I will not lose this fight

ROGER Rosa said he’s not concerned that he’s fighting in the Bahamas for the first time. He predicted that he doesn’t intend to leave town without a victory over Meacher ‘Pain’ Major.

Opposition Leader's national address on Baha Mar - the speech in full

Dr Hubert Minnis, Leader of the Opposition, addressed the nation on Sunday night over Baha Mar. This is the full text of his message.

Aliv ‘credibility’ boost as roll-out targets hit

The Bahamas’ second mobile operator yesterday received a “credibility” boost from regulators confirming it had met its first network roll-out targets, and disclosed it was ahead of schedule in bring service to Abaco, Grand Bahama and Eleuthera.

Jobless rise ‘warning signal’ to the Gov’t

An outspoken businessman believes November’s increased unemployment figures are proof the Government’s economic policies are not working, as he asked: “Who wants to open a business in the Bahamas now?”

Stock split revival with Fidelity ‘on $25m track’

Fidelity Bank (Bahamas) will unveil plans for its long-awaited stock split at next month’s shareholder meeting, its chief executive revealed yesterday, as it eyes a total $17.5m dividend payout to investors in 2022

‘Landmark breakthrough’: FTX Bahamas strikes new Ray deal

FTX’s Bahamian liquidators yesterday hailed the settlement reached with their US counterpart as “a landmark breakthrough” that will avoid “years of protracted litigation” which would cost creditors dearly.

Rebuild could cost ‘billions and billions’

A Cabinet minister last night predicted it will cost “billions and billions” to rebuild Abaco and east Grand Bahama’s infrastructure after the “awesome challenge” laid down by Hurricane Dorian.

BUSINESS BITES: Two Huberts with different visions

The disputed future of the Grand Lucaya Hotel complex is more than a business debate. It could well mark the opening political shot for control of the FNM. Incumbent Prime Minster Hubert Minnis and predecessor Hubert Ingraham have each visibly tied his flag to a radically different solution for the hotel’s continued viability - and the future of Grand Bahama.

Cruise lines eye bid on Nassau's 'bottom' port

Royal Caribbean’s top executive yesterday confirmed that the industry has discussed submitting a bid to manage a Nassau cruise port that is “sadly among the Caribbean’s bottom”.Michael Bayley, president and chief executive of Royal Caribbean Internat

FACE TO FACE: Template for success – even in a pandemic

Businesses that have not learned to adapt to the new normal of a pandemic by implementing digital aspects to their operations are getting left behind.

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