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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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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BREXIT: Fatigue may send UK visitors to region

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 […]

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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 […]

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 […]

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 […]

Nearly $800 million in FDI projected

NASSAU, BAHAMAS – Nearly $800 million in Foreign Direct Investment is projected to bolster the country’s economy in the short to medium terms, the government revealed yesterday. In his mid-year budget statement, Deputy Prime Minister and Minister of Finance Peter Turnquest said the economy benefitted from the completion of a number of FDI projects last […]

Cruise line private islands divert traffic from capital

NASSAU, BAHAMAS  – The government has once again admitted that a trend in granting approvals to cruise lines for private islands may be taking much-needed foot traffic further away from the local retailers in the capital. It’s an effect opposite to an uptick in passenger arrivals – and economic activity – these mega cruise liners […]

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DPM: Moody’s deficit assessment “reasonable and responsible”

Moody’s projects 2-2.5% deficit for 2018/2019; govt. targets 1.8%   NASSAU, BAHAMAS – Deputy Prime Minister and Minister of Finance Peter Turnquest yesterday called Moody’s assessment that the government will likely not meet its deficit projections based on conservative projections “reasonable and responsible”. Turnquest adopted a softer tone in response to the international credit ratings […]

DPM: “No End to OECD/EU demands”

The Bahamas will remain a “clean and compliant” jurisdiction regardless of how many times the nation is blacklisted, Deputy Prime Minister and Minister of Finance Peter Turnquest reinforced yesterday. Speaking at Royal Fidelity’s Business Economic Outlook, Turnquest expressed concern that no matter how cooperative the nation is or how compliant with demands to become more […]