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 […]

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. […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Turnquest: $94.7 million in mortgage commitments

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 […]

Govt.’s 2018/2019 budget guided by stringent fiscal requirements

NASSAU, BAHAMAS — Acting Prime Minister Peter Turnquest said the Government’s 2018/19 Budget was a watershed budget, as it was guided by the stringent fiscal requirements of the then-pending Fiscal Responsibility Act. The subsequent Fiscal Strategy Report of November then set the stage for the medium-term framework that will underpin the development of the 2019/20 […]