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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
NASSAU, BAHAMAS – BREXIT concerns and overload may be pushing more U.K. travellers to The Bahamas and other regional countries – with one U.K. travel writer suggesting eco-tourism as a draw to lure these tourists to sandier shores. The Caribbean Tourism Organization official report reveals that arrivals from Europe improved modestly to the Caribbean in […]
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 […]
The Bahamas could one day be home to one of the world’s largest tourism trade shows, with Minister of Tourism Dionisio D’Aguilar floating the idea of hosting such a convention now that hotel inventory has increased. With the opening of Baha Mar, the Minister said the country is now more ready to take on hosting […]
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 […]
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 […]
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 […]
The popularity of Airbnb vacation rentals continues to rise with the Central Bank reporting a 37 per cent increase in bookings for January compared to the same period last year. Private room bookings, which comprise of those visitors who prefer to rent a room in a house, increased by nearly 45 per cent while bookings […]
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 […]
NASSAU, BAHAMAS – As the country continues to ready itself for accession to the World Trade Organization (WTO), government’s chief negotiator with the WTO Zhivargo Laing took his public education campaign to the Bahamas Contractor’s Association on Wednesday. Joining the WTO has been a public debate in The Bahamas for over a decade now. The […]
Price of fuel declines month-over-month NASSAU, BAHAMAS – With global oil prices creeping upwards since December 2018, there will likely be a knock-on effect on gas and electricity costs in The Bahamas, though the cost at the pump and the price of the utility costs have declined month-over-month. Brent crude oil, used to price […]
NASSAU, BAHAMAS – A surge in domestic construction to $86.7 million by Q3 2018 may not necessarily be duplicated this year as officials report a decline in construction commitments going forward. While many FDI ventures bolstered the construction sector for 2018, the completion of some of the bigger projects may mean a falloff in activity […]
