Search results for : Deposits
Kamalame Cay finds success with SandDollar payroll
March 14, 2024
Kamalame Cay finds success with SandDollar payroll
NASSAU, BAHAMAS — On many of the family islands where there is limited to virtually no commercial banking presence, businesses are turning to approved digital payment solutions providers and utilizing the SandDollar as a means to quickly, safely, and efficiently process payroll and make necessary purchases. Portland Bain, Chief Financial Officer at Kamalame Cay, who [...]
March 11, 2024
Labour Minister confirms Deltec to teriminate 23 employees, 11 let go last week
NASSAU, BAHAMAS — Deltec has indicated its intention to terminate 23 employees, with 11 already let go last week, as confirmed by Labour and Public Service Minister Pia Glover-Rolle. Deltec has not commented on the matter. The reasoning behind the layoffs remains unclear, but speculation suggests they may stem from the fallout of the FTX [...]
March 01, 2024
CANCEL THE DEAL: Opposition condemns air freight terminal outsourcing arrangement
NASSAU, BAHAMAS — The Opposition has strongly condemned and called for the cancellation of a reported $25 million airfreight terminal outsourcing arrangement at Lynden Pindling International Airport, suggesting that it would impose an additional tax burden on Bahamians. "What is reported cannot be defended. It simply cannot be that the government has signed onto a [...]
Deltec denounces "meritless" allegations in new lawsuit, asserts it had no prior knowledge of FTX misconduct
February 19, 2024
Deltec denounces "meritless" allegations in new lawsuit, asserts it had no prior knowledge of FTX misconduct
NASSAU, BAHAMAS — Deltec says that it will vigorously defend against what it deems as "meritless claims" amidst allegations in a new lawsuit, with the bank maintaining that it did not know about FTX misconduct. The lawsuit alleges that Sam Bankman-Fried's Alameda Research artificially inflated the growth of the cryptocurrency Tether using a secret short-term [...]
Your creative gift unwrapped
December 27, 2011
Your creative gift unwrapped
By Teri M. Bethe
Coming into a new year can have you wrapped in a number of feelings. Some folks are excited and looking forward to what the new year will bring, while others are troubled with thoughts of uncertainty, not quite sure which way is the best to turn. And again there are those who are just happy to have a fresh go at it to leave behind the old and embrace the new; an opportunity to ma...
December 28, 2023
Foreign currency outflows see $70 million contraction in November year-over-year
NASSAU, BAHAMAS — Foreign currency outflows saw a $70 million contraction during November relative to the same period in 2022, according to the Central Bank, with transactions for debit and credit cards in particular declining by just over $53 million. The Central Bank in its Monthly Economic and Financial Development report for November, ind that [...]
Underwater photographer calls to regulate chumming
December 22, 2023
Underwater photographer calls to regulate chumming
A POPULAR underwater photographer joined calls to regulate chumming following a shark attack that killed Lauren Erickson Van Wart, 44, two weeks ago as she paddle-boarded three-quarters of a mile off Sandals Resort.
December 18, 2023
Sand Dollars in circulation increase to $1.46 million
NASSAU, BAHAMAS — The volume of the Sand Dollar digital currency in circulation increased to $1.46 million as of November, representing an approximately 40 percent increase over the first 11 months of the year, according to the Central Bank. Through September, 117,610 digital wallets were reported to be in use, an increase of 25 percent [...]
Bahamian economy sustained its growth trajectory at a "moderate pace" in Q3, says Central Bank
December 06, 2023
Bahamian economy sustained its growth trajectory at a "moderate pace" in Q3, says Central Bank
NASSAU, BAHAMAS — The Bahamian economy sustained its growth trajectory in the third quarter, although at a "moderate pace," supported by healthy gains in the tourism segment and several small to medium-scale foreign direct investment projects, according to the Central Bank. The Preliminary indications are that during the third quarter of 2023, the Bahamian economy [...]
November 03, 2023
FTX founder Sam-Bankman-Fried convicted of defrauding cryptocurrency customers
FTX founder Sam Bankman-Fried's spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit a new bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion.
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