Bahamas receives record-breaking number of visitors in 2018

NASSAU, BAHAMAS — The Bahamas received far more visitors to its shores in 2018 than in any previous year in its “entire history of being engaged” in the tourism business, Minister of Tourism and Aviation Dionisio D’Aguilar said Wednesday. The increase in tourism business in 2018 was experienced nationwide — Nassau/ Paradise Island, Grand Bahama and […]

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Award winning Coral Vita team to speak at GB Chamber event

FREEPORT, BAHAMAS –   Late last year Government officials, private stakeholders and Non-Governmental Organizations (NGO’s) attended the groundbreaking of the world’s first ever coral farm, in Grand Bahama. The Coral Vita Project, which is a collaborative endeavour between Coral Vita, The Grand Bahama Port Authority, and the Grand Bahama Development Company (DEVCO) was founded by Gator […]

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Lighthouse Point project forecasted to generate $357-plus million in govt. revenue

Project projected to provide $805 million economic stimulus   NASSAU, BAHAMAS – Disney’s Lighthouse Point project set for Eleuthera is forecasted to provide an $805 million stimulus to the Bahamian economy and $357 million increase in government revenue over the next 25 years, according to an economic study carried out on behalf of the developer. […]

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Govt. narrows Grand Lucayan’s bidders list

NASSAU, BAHAMAS – The list of companies vying for the chance to own and operate the Grand Lucayan Resort in Grand Bahama has been significantly narrowed down to less than five potential owners, according to tourism minister Dionisio D’Aguilar. D’Aguilar made the announcement to reporters outside of Cabinet office on Tuesday morning. The government recently […]

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Royal Fidelity reveals new logo

NASSAU, BAHAMAS – Royal Fidelity recently revealed a new logo reflecting a more modernized look, as the financial institution transitions to a now independently run entity. The new logo presents a uniquely identifiable brand, while maintaining aspects of the company’s previous visual identity. The new logo was designed by Cayman-based creative agency BB&P and embodies […]

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PM: The Bahamas poised for an economic rebirth

GEORGE TOWN, EXUMA – Prime Minister Dr. Hubert Minnis said The Bahamas and the island of Exuma are poised for an economic rebirth as he announced extensive plans to improve infrastructure on the island. Among the plans are a new international airport in George Town, the construction of an Office of the Prime Minister, much-needed […]

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Financial services execs pledge support of govt. in move to avoid EU’s Blacklist

NASSAU, BAHAMAS – A busy year of persistent modifications to regulations governing the financial services industry may finally be producing results, with executives pleased The Bahamas was left off of the European Union’s updated blacklist of countries seen as non-cooperative. While the EU’s Economic and Financial Affairs Council expanded its list of non-cooperative Jurisdictions for […]

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Small Business Development programme launched in Eight Mile Rock

EIGHT MILE ROCK, GRAND BAHAMA — The Government recently launched its Grand Bahama’s Small Business Development programme in West Grand Bahama at the Eight Mile Rock High School auditorium. After successfully launching the programme in East Grand Bahama last month, Deputy Prime Minister and the Minister of Finance K. Peter Turnquest said he wanted to […]

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Central Bank to host Blockchain seminar

NASSAU, BAHAMAS – Blockchain and how it can benefit The Bahamas will be front and centre next week as the Central Bank further preps the market for the introduction of Project Sand Dollar. With a focus on the pending Payments Systems Modernization Initiative, the Bank, on Monday, March 18,  will host its second seminar on […]

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$2 billion asset base decline over five years for public banks, trust companies

NASSAU, BAHAMAS – Public Banks and Trust Companies in The Bahamas have seen a more than $2 billion decline in their combined asset base in just five years, the Central Bank of The Bahamas revealed. In a new move to include more than just domestic banking data in its quarterly statistical digest, the Bank recently […]

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Cruise lines have no issue with govt.’s selection for port

Royal Caribbean CEO excited and prepared to work with new developer   NASSAU, BAHAMAS – Although it missed out on the Nassau’ cruise port project, Royal Caribbean Cruise Lines (RCCL) President and CEO Michael Bayley said yesterday that the cruise lines are not bothered, and are instead “exited, and willing” to work with the selected […]

Despite failed Fyre Fest, occupancy rates at Grand Isle in Exuma skyrocket

NASSAU, BAHAMAS –  The largest shareowner of Exuma’s luxurious Grand Isle property is noting one upside of the doomed Fyre Festival documentary which shed a negative light on the island of Exuma: higher occupancy rates. Initially worried that the island’s tourism product would take a hit from the popularity of the Netflix and Hulu documentaries […]

Colonial Group International to invest $4 million in GB

FREEPORT, GRAND BAHAMA – Colonial Group International (CGI) – the parent company of Atlantic Medical Insurance Co Limited, Security & General Insurance, Colonial Pensions Services (Bahamas) and the Nassau Insurance Brokers & Agency Limited – will invest $4 million in Grand Bahama through the construction of a state-of-the-art building to become its northern hub of […]

New Investment Fund Bill a new chapter in Bahamian Financial Services

2019 bill passed in HOA     NASSAU, BAHAMAS – The new Investment Funds Bill, which was passed in parliament on Wednesday, will introduce a “new chapter” in Bahamian Financial Services while attracting new opportunities to the jurisdictions and improving the ease of doing business. Deputy Prime Minister and Minister of Finance, Peter Turnquest said […]