The Big Story

NASSAU, BAHAMAS — Developers of the 4M Harbour Island Marina and condominium project signed a second Heads of Agreement (HOA) yesterday for a further $150 million investment. During a press conference, Prime Minister Philip Davis noted that what began as a boutique resort and marina development has evolved into a retail component comprising 93 estate homes, cottages, and villas. Davis...

NASSAU, BAHAMAS — Attorney General Ryan Pinder said yesterday that this office made no filings on behalf of the government as FTX creditors, noting that the company does owe the government some real property tax. A recently filed 115-page FTX creditor list listed several government ministries as FTX creditors. Pinder said: “We didn’t make any filings on behalf of the...

NASSAU, BAHAMAS — The Central Bank’s external reserves increased by approximately $140 million to $2.6 billion in 2022 the regulator revealed yesterday. Central Bank Governor John Rolle during a quarterly press briefing noted that the external balances are still very close to this level, just ahead of the anticipated seasonal build-up that is expected through the first half of the...

NASSAU, BAHAMAS — A payday loan provider has expanded its offering to now facilitate private sector employees. Easy PayDay Loans is now dedicating a percentage of its loan portfolio to the private sector, allowing for qualifying individuals employed for a minimum of five years to apply for a loan currently up to $5,000. Ruthie Knowles, Easy PayDay General Manager told...

Opposition says government has "thrown in the towel" on Haitian migration issueCOI stages 'peaceful' immigration protest at Parliament NASSAU, BAHAMAS — Minister of Labour and Immigration Keith Bell yesterday called for Bahamians to "let sanity prevail" as tensions rise among some over the uptick in irregular migration due to the deepening crisis in Haiti. Bell acknowledged the country was challenged...

NASSAU, BAHAMAS — Prime Minister Philip Davis said yesterday that “the law is the law” as he defended the decision by the Ministry of Finance to stop insurers from recovering the 10 percent VAT paid on health insurance claims payments. Opposition spokesman on Finance, Kwasi Thompson yesterday insisted that the actions of the Davis administration are destroying the middle class....

Davis: Plans to restore country's fiscal health are working NASSAU, BAHAMAS — Prime Minister Philip Davis yesterday asserted that his administration’s plans to restore the country’s fiscal health are working, arguing that it was “simply not feasible” to table the Fiscal Strategy Report last November as required by law. Davis delivered his communication in Parliament yesterday on the Fiscal Strategy...

NASSAU, BAHAMAS — Labour and Immigration Minister Keith Bell yesterday revealed that the Immigration Department conducted operations last month to infiltrate a number of ‘escort services'. Bell told Parliament one operation resulted in the conviction and deportation of four Jamaican women. He provided an update yesterday on the processing and repatriation of irregular migrants to The Bahamas and outlined some...

NASSAU, BAHAMAS — Opposition leader Michael Pintard yesterday accused the Davis administration of having “thrown in the towel” on the illegal Haitian migration issue, arguing that the government should be doing more to stem the flow of illegal migrants from that country. In a statement yesterday, Pintard said the matter is now a very pressing issue in the country. “The...

NASSAU, BAHAMAS — Several employees of FTX Digital markets have been made redundant, with the joint provisional liquidators indicating that due to the company’s financial position, they are unable to make redundancy payments. The liquidators have indicated that instead, employee redundancy payments will rank as a “preferred claim” against the company. It was unclear how many workers had been terminated...

Gov't drafting new legislation to manage city center Downtown retailers urged to capitalize on tourism uptick NASSAU, BAHAMAS — Deputy Prime Minister Chester Cooper yesterday revealed that the government has issued demolition orders for nine buildings in the downtown area east of East Street. His comments led to calls from Downtown Nassau Partnership’s (DNP) co-chair that it is now up...

NASSAU, BAHAMAS — Minister of National Security Wayne Munroe yesterday threw his support behind potential changes to police gun policy that would allow officers to carry service weapons while off-duty. Among crime-fighting efforts, Munroe underscored the need to also protect the police as the country recorded an increase in all major crimes in 2022. “Now, every policeman we would like...

NASSAU, BAHAMAS — Super Value owner Rupert Roberts predicted the price of eggs will drop within the span of two months despite the bird flu crisis in the United States. His comments follow reports that one of the largest egg distributors in the U.S. suffered a loss of 100,000 egg-laying hens. Roberts was confident the Bahamian consumer will not be...

NASSAU, BAHAMAS — A local businessman and political leader has urged the government to ensure that its negotiations with Royal Caribbean Cruise Lines (RCL) provide for significant Bahamian integration into its Paradise Island beach club development to secure a “win-win.” “Cruise lines normal do surveys with their passengers to find out what kind of experiences they want," said businessman Cassius...

FREEPORT, GRAND BAHAMA — Police on the island of Grand Bahama are searching for a 34-year-old man believed to have sexually assaulted a 23-year-old woman who was known to him yesterday. According to reports, the woman was found lying in the street at Deadman’s Reef, West Grand Bahama sometime around 1.30am on Monday. "According to reports the victim, who was...

NASSAU, BAHAMAS — The Central Bank Governor said yesterday that consumers could see further increases in inflation before it starts to taper off, according to Central Bank Governor John Rolle. “It’s difficult to say yet whether inflation in The Bahamas has peaked yet," he said at yesterday's quarterly press briefing. "What people would observe is that the published inflation rates...

NASSAU, BAHAMAS — The Bahamas can reasonably expect to see anywhere from four to six percent economic growth this year, according to Central bank Governor John Rolle yesterday. At the regulator's quarterly press briefing, Rolle noted that the Bahamian economy grew between seven and nine percent last year in large part to rebounded tourism inflows.  “The forecast put there with...

NASSAU, BAHAMAS – A woman who discovered she was married after attempting to register the birth of her child has had the record voided. In a judgment dated January 26, Supreme Court Justice Carla D. Card-Stubbs ruled the 2019 entry of marriage between Talia Destiny Duncombe and Myrtho Noel be deleted from the Register of Marriages. She granted Duncombe the...