Foreign direct investment may be reduced by targeted diaspora investment

NASSAU, BAHAMAS – Bahamian professionals abroad may have new business opportunities at home with plans for an upcoming summit targeted towards attracting investment from the country’s diaspora – and possibly slash a heavy reliance on foreign direct investment in the process. The Bahamian-born head of the Florida-based Horizons Marketing Group International Andy Ingraham said his […]

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Optimism that amendments to Act will satisfy EU requirements

NASSAU, BAHAMAS – The CEO of The Bahamas Financial Services Board is anticipating that government’s amendments yesterday to the Commercial Entities (Substance Requirements) Act will further satisfy the European Commission and get The Bahamas off its deficient list. Speaking with Eyewitness Business, BFSB chief Tanya McCartney said government had been actively engaged with the financial […]

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Pelican Bay leads the charge in promoting GB

Highlights newly renovated hotel at CHTA 2019 Marketplace   FREEPORT, BAHAMAS – With more than $4 million invested in room renovations last year, Pelican Bay seized the opportunity to promote their new décor and upgraded facilities at the recent 2019 Caribbean Hotel Tourism Association’s (CHTA) Caribbean Travel Marketplace held in Montego Bay, Jamaica. Known as […]

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Revitalization of Downtown Nassau underway, says PM

NASSAU, BAHAMAS – Prime Minister Dr. Hubert Minnis has confirmed that plans for the revitalization of historic downtown Nassau are underway and will realize jobs and business opportunities for Bahamians. He was contributing to the debate in the House of Assembly Wednesday on the Resolution to Convey Property and Land from the Government of The […]

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McCartney: Bahamas ‘ought not to have been listed’ on EU’s AML/CFT list

NASSAU, BAHAMAS – The Financial Services sector and the government are on one accord in calling a move ‘not proportionate’ when the European Commission listed The Bahamas among jurisdictions considered deficient in Anti-Money Laundering and Countering Financing of Terror (AML/CFT). The Bahamas Financial Services Board (BFSB) CEO Tanya McCartney yesterday assured that the industry remained […]

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Yearly 25,000 Japanese car imports to drop as new car sales expected to hike

NASSAU, BAHAMAS – Auto industry insiders are eyeing a possible decline in nearly 25,000 used Japanese vehicles imported into the country each year as new car imports are tailored to fit the more affordable 25 per cent tax rate. Because of their more economical prices and engine size, anywhere from 15,000 to 25,000 used cars […]

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Govt. table proposed amendments to Commercial Entities (Substance Requirements) Act

NASSAU, BAHAMAS – The Government will table proposed amendments to the Commercial Entities (Substance Requirements) Act when the House of Assembly meets today. The Commercial Entities (Substance Requirements) Act, 2018 was among a package of legislation passed in December 2018 aimed at implementing measures to ensure compliance with international standards on tax governance and transparency. […]

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10% spike in data breaches for banking customers

NASSAU, BAHAMAS – The Bahamas Data Protection Commissioner has recorded a 10 per cent hike in the number of data breach complaints by commercial bank account holders year-over-year, as efforts to increase public awareness on the issue continue. It is a global upsurge in breaches of personal data by hackers and online criminals that has […]

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BAMSI hosts trip to North Andros agricultural facility

NASSAU, BAHAMAS – Agriculture and Marine Science Institute (BAMSI) on Tuesday made a major step toward revamping its business operations and securing a stable economic model for the Institute when it welcomed more than a half dozen potential partners and industry stakeholders to its North Andros agricultural facility. Given the task of rightsizing the Institute […]

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Gaming Association welcome Board’s findings

Report debunks fears gaming houses conduits for money-laundering/terrorism financing   NASSAU, BAHAMAS – The Bahamas Gaming Operators Association (BGOA) yesterday welcomed a report by the Gaming Board which found that continued fears that the regularized domestic gaming sector remains at risk of being conduits for money laundering and terrorism financing have been proven to be […]

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TripAdvisor Award Winner boosts ad budget amidst new Lenny Kravitz ad

CAT ISLAND, BAHAMAS – Seeking to boost occupancy by 10 per cent, one Cat-Island based 2019 TripAdvisor Travelers’ Choice Award winner has ramped up advertising to maximize exposure from the newest Ministry of Tourism ad featuring rock star Lenny Kravitz. Rollezz Villas Beach Resort proprietor Carl Rolle said the ad’s highlights of the family islands […]

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Fusion Superplex holds job fair

NASSAU, BAHAMAS – As unemployment increased marginally in 2018, according to recent figures released by the Department of Labour, the newly-opened Fusion Superplex held a job fair on Friday, which staff deemed to be very successful. Chief Human Resources Officer at Fusion Superplex, Trevare Sherman, told Eyewitness News Online that the facility has a number […]

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Stopover arrivals prove promising for 2019

NASSAU, BAHAMAS – On the heels of experiencing double-digit stopover visitor arrivals in 2018, Ministry of Tourism officials are confident that 2019 figures will prove just as successful. While The Bahamas finished 2018 with stopover visitor arrivals at 18 per cent, Dionisio D’Aguilar, Minister of Tourism and Aviation revealed that 2019 is shaping up to […]

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Lenny Kravitz stars in new tourism campaign

NASSAU, BAHAMAS – The Bahamas Ministry of Tourism (MOT) has teamed up with Rock ‘n Roll, Grammy Award-Winning star Lenny Kravitz for its new multi-million-dollar brand campaign, ‘Fly Away.’ Fly Away, a mirrored name of Kravitz’s 1998 hit, was released in New York City (NYC) on Thursday at the eccentric Public Hotels to an audience […]

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GB Business Outlook to highlight creative industries

NASSAU, BAHAMAS – With its innovative “Creative Conversations”, the Grand Bahama Business Outlook (GBBO) is putting the spotlight on the value of creative industries, with a focus on the arts.  Scheduled to be held at Freeport’s Grand Lucayan Resort on February 21, the forum is marking its 21st anniversary under the theme “Connecting Resources, Maximizing Opportunities, Transforming […]

TIG zeroes in on recipients for second round of funding

NASSAU, BAHAMAS – It’s no easy feat to identify promising companies and entrepreneurs with the strongest potential to change the way we live and work, but The Investment Group (TIG) is on a mission to do just that as interviews are set to commence this week with shortlisted candidates vying for thousands of dollars in […]

DPM: 0.1% of GDP surplus by 2021/2022

No VAT increase in the next budget   NASSAU, BAHAMAS – While touting the Minnis administration’s fiscal performance during the first six months of this fiscal year, Deputy Prime Minister and Minister of Finance Peter Turnquest acknowledged yesterday that the government is still a long way away from eliminating fiscal deficits. However, the minister said […]

D’Aguilar: Stopover visitors increased 17%

NASSAU, BAHAMAS – Insisting that the Minnis administration has demonstrated it is the better steward of the country’s fiscal affairs when compared to its predecessors, Tourism and Aviation Minister Dionisio D’Aguilar revealed yesterday that stopover visitor numbers were up 17.1 per cent as of November 30, 2018. “For the 11 months ended November 30, 2018, […]

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