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MONDAY, DECEMBER 19, 2022
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CCA put son of PM’s top policy adviser on Pointe By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHA MAR’S main contractor asked the son of Perry Christie’s top policy adviser to intervene when his father proposed changing The Pointe’s Heads of Agreement over how many Bahamian construction workers would be employed. E-mails tabled in the New York State Supreme Court on Friday reveal that Daniel Liu, China Construction America (CCA) Bahamas senior vice-president, made an urgent request for help within days of Sir Baltron Bethel altering the agreement’s wording to make clear that The Pointe’s 70:30 labour ratio in favour of Bahamians applied to construction workers only. The documents, filed as part of Sarkis Izmirlian’s $2.25bn fraud and breach of contract claim against the Chinese state-owned contractor over Baha Mar’s failure, disclose that the person he reached out to for help was Sir Baltron’s son, Leslie.
• Intervention sought on Sir Baltron’s labour changes • ‘Can’t hit’ 70% Bahamian construction employment • Son said father among CCA ‘biggest supporters’ He advised that the issue was “politically problematic for the Prime Minister”, given the Government’s stance about ensuring Bahamians must come first in all areas of life - especially on job and economic opportunities. He
BAHAMAS POWER & LIGHT (BPL) HEADQUARTERS
SIR BALTRON BETHEL
LESLIE BETHEL
suggested that, rather than focus on labour ratios, CCA instead stipulate “a dollar amount” that would be awarded to Bahamian contractors and assert it would hire more locals than had been engaged at Baha Mar. Mr Bethel later described his father as “one of CCA’s biggest supporters”, adding that there were “others” in the Cabinet “who might not see things the same as OPM (Office of the Prime Minister)” where Sir Baltron worked as Mr Christie’s senior policy adviser and, ultimately, as the Government’s lead
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Bran: ‘Don’t abandon’ digital assets on FTX By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Democratic National Alliance’s (DNA) former leader is urging The Bahamas not to “abandon” the digital assets industry in the wake of FTX’s implosion but instead promote the jurisdiction with “even more vigour”. Branville McCartney told Tribune Business that to “give up” on its ambitions for the sector now would simply provide critics attacking The Bahamas in the wake of the crypto currency exchange’s collapse with extra ammunition, while any work done to restore the country’s
BRANVILLE MCCARTNEY tattered reputation would “be in vain”. Calling on the Davis administration to “pull out all the stops” to counter the negative onslaught sparked by FTX’s now-US chief executive, John Ray, and
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‘Permit restricted US dollar holdings without approval’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMIANS should be permitted to hold a limited amount of US dollars in their account without needing Central Bank approval as part of wider reforms to the commercial banking industry, a report has recommended. A public consultation document, crafted for The Bahamas Think Tank following presentations by both the Central Bank governor and Securities Commission’s head, calls for the introduction of a series of measures to boost financial inclusion, access and the provision of lower-cost capital to small
EDISON SUMNER businesses that “drive the economy”. Edison Sumner, principal of Sumner Strategic Partners, who compiled the report for the Think Tank told Tribune Business that by the end of the 2023 first quarter he hoped to have sufficient public and banking
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BPL fuel hike: Pintard asserts URCA ‘endorses’ law breach By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Opposition’s leader is challenging whether electricity regulators are “endorsing” Bahamas Power & Light (BPL) breaking the law by asserting it has made an “adequate case” to hike its fuel charge by up to 163 percent. Michael Pintard told Tribune Business that the Utilities Regulation and Competition Authority’s (URCA) short three-paragraph statement affirming that BPL’s rolling fuel charge increases are justified was “quite
puzzling” given that the October 4 plan unveiled by both the utility regulator and the Davis administration seemingly breaches the Bahamas Electricity Corporation (Amendment) regulations. These were issued in the Government’s gazzette on June 26, 2020, and the Free National Movement (FNM) leader asserted that they do not permit BPL to create two distinct fuel charge rates for consumers as set out in the October plan that has now been implemented. Mr Pintard, emphasising that he was “not
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