Bahamaren signs MOU with Chinese agriculture powerhouses

Bahamaren Limited signed a Memorandum of Understanding (MOU) with Beijing Kingpeng International Agriculture Corporation and China Overseas Agricultural Development Alliance, establishing the framework for mutually beneficial cooperation for agricultural development through innovative technologies last Friday. In a statement released by the company, Bahamaren expressed that the new agreement will foster long-term agricultural sustainability, enhance market […]

Bahamas-Haiti trade enhanced

The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) partnered with ALIV, Bahamas Air, and the Bahamas Embassy in Haiti this past weekend, to lead a cross-section of 17 Bahamian business persons on a trade mission to Port-au-Prince, Haiti. Led by BCCEC CEO Edison Summer, the mission included a courtesy call to Haitian President Jovenel […]

Disney eyes another island for additional cruise fleet

Disney Cruise Lines has expressed interest in developing a second private island destination in The Bahamas alongside its Castaway Cay property. “The cruise line is preparing to grow its fleet from four to seven ships confirming the company’s interest in still finding a second home for its ships in The Bahamas,” according to Disney Signature Experience […]

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New regime to circumvent blacklisting

In the wake of The Bahamas’ removal from the European Union’s (EU) blacklist, Deputy Prime Minister and Minister of Finance Peter Turnquest told Eyewitness News on Friday, that government intends to make necessary adjustments to remain proactive to prevent future blacklisting. “I have no doubt that we have the strength and the capability to provide […]

New software solution to advance compliance measures for OECD

Rolls out Vizor AEOI software solution for cross-border information exchange under the OECD Common Reporting Standard In order to effectively fulfill its commitments for the Automatic Exchange of Information (AEOI) under the Organisation for Economic Co-operation and Development’s (OECD) Common Reporting Standard (CRS) framework, the Ministry of Finance rolled out an international software solution from […]

Goldwynn project to spur economic development and revitalize Goodman’s Bay

The government broke ground on a $120 million condominium hotel at the old Gold Blossom Estate on West Bay Street Wednesday, which is expected to spur economic development through the creation of hundreds of construction and permanent jobs. The project, which Canadian-based real estate conglomerate Wynn Group is touting as a compliment to the Baha Mar, […]

D’Aguilar projects double-digit growth in Tourism with new forecasting tool

Tourism Minister Dionisio D’Aguilar said that his ministry is predicting double-digit increases in tourism arrivals before December 2018, with significant growth in cruise numbers. D’Aguilar shared that his ministry has recently employed a new computer-generated platform to assist it with monitoring current and projected tourist arrivals into the country. “We now have this program called […]

AG Bethel addresses financial services industry on Register of Beneficial Ownership Bill

The recent introduction of the Register of Beneficial Ownership Bill, 2018 in the House of Assembly, provided the Government of The Bahamas with an opportunity to take a proactive stance against certain global initiatives the country is currently facing with regards to the financial services industry. And also signaled “the urgency for the Administration to […]

FTRA 2018 to address country’s global compliance deficiencies

The Bahamas’ Financial Transactions Reporting Act, 2018 (FTRA), will address all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force (FATF), according to Attorney General and Minister of Legal Affairs Senator Carl Bethel, QC. Addressing a stakeholder meeting with industry regulators and members […]

EU to remove Bahamas from blacklist

European Union (EU) finance ministers will remove The Bahamas from the EU’s list of tax havens next Friday, according to a draft agenda of the EU’s next meeting released to Reuters Business Friday. Back in March, The Bahamas was added to the blacklist, deeming The Bahamas’ “tax rules and practices” not in line with EU […]