April 12, 2021

Bahamas-based banks implicated in Brazil bribery scandal

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By Xian Smith Nassau Guardian Business Reporter From Caribbean News Now NASSAU, Bahamas — The Bahamas has been named in a bribery scandal sweeping through Brazil’s state-owned oil company Petrobras. Brazilian prosecutors announced onTuesday the arrest of Roberto Goncalves, a former executive engineering manager of Petrobras, according to the Associated Press. The prosecutors allege offshore […]

Bahamas opts out of regional insurance facility

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By K. Quincy Parker Nassau Guardian Business Editor From Caribbean News Now NASSAU, Bahamas — The Bahamas has opted out of the Caribbean Catastrophe Risk Insurance Facility (CCRIF), and will instead put the $900,000 annual premium in the Disaster Relief Fund, beginning this year. The insurance facility has been around for nearly ten years, meaning […]

Chinese EXIM Bank rejects blame for Bahamas megaresort crisis

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By Travis Cartwright-Carroll Nassau Guardian Staff Reporter From Caribbean News Now NASSAU, Bahamas — The Export-Import Bank of China (EXIM) on Thursday dismissed “unfounded criticisms” by people with “ulterior motives” and said it has the best interests of the Bahamian people at heart. There has been some criticism in recent weeks over the lack of progress […]

Cruise industry hits back over Bahamas ‘free ride’ claim

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By Alison Lowe Nassau Guardian Business Editor, from Caribbean News Now NASSAU, Bahamas — The head of the Florida Caribbean Cruise Association (FCCA) has hit back at a suggestion by Bahamas tourism stakeholders that the cruise industry is not paying its fair share of taxes, pointing to what she said are fees that are already […]