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News & Press - May 24/18

 

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Baha Mar achieved a major milestone on Tuesday with the opening of Rosewood Baha Mar, marking the completion of the mega resort's phased opening that began just over a year ago. 

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TheBahamasInvestor.com
Thursday, May 24, 2018
Thursday, May 24, 2018

Rosewood Baha Mar opens

Pictured: Prime Minister, Dr Hubert Minnis applauds Baha Mar’s ‘Life Spectacular’ marketing campaign at the official opening of Rosewood Baha Mar, May 22, 2018. (BIS Photo/Peter Ramsay)

Baha Mar achieved a major milestone on Tuesday with the opening of Rosewood Baha Mar, marking the completion of the mega resort’s phased opening that began just over a year ago.

The opening of the luxury Rosewood property has created 450 jobs and brings the total number of rooms, suites and villas at Baha Mar to 2,300.

“Tourism is doing exceptionally well in The Bahamas,” noted Prime Minister Hubert Minnis at Tuesday’s ribbon cutting ceremony.

The prime minister was referring to recent figures that show an increase in air arrivals and hotel room bookings on Nassau and Paradise Island.

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To effectively implement its commitments for the Automatic Exchange of Information under the Organisation for Economic Co-operation and Development’s Common Reporting Standard framework, the Ministry of Finance has rolled out an international software solution from Vizor AEOI Software. 

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TheBahamasInvestor.com
Wednesday, May 23, 2018
Wednesday, May 23, 2018

Ministry of Finance upgrades digital infrastructureTo effectively implement its commitments for the Automatic Exchange of Information (AEOI) under the Organisation for Economic Co-operation and Development (OECD)’s Common Reporting Standard (CRS) framework, the Ministry of Finance has rolled out an international software solution from Vizor AEOI Software.

The Bahamas will use the Vizor AEOI solution to meet its commitment under the CRS and to continue honouring its exchange commitment under the Foreign Account Tax Compliance Act (FATCA) with the IRS.

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Ministry of Tourism hosts US travel agents

A group of travel agents from Atlanta, Georgia, and New York City were in The Bahamas last week to meet with Ministry of Tourism officials and the marketing and sales team from Sandals Royal Bahamian. 

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TheBahamasInvestor.com
Tuesday, May 22, 2018
Tuesday, May 22, 2018

Parliamentary Secretary in the Ministry of Tourism Travis Robinson welcomed to The Bahamas travel agents from Atlanta, Georgia, and New York City, May 16, 2018.

As part of a promotional tour, the group met with Sandals Royal Bahamian and Ministry of Tourism sales and marketing teams and had dinner at Sandals Royal Bahamian.

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AG updates stakeholders on Financial Transactions Reporting Act

The Bahamas’ Financial Transactions Reporting Act, 2018, will meet all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force, Attorney-General and Minister of Legal Affairs Carl Bethel said Wednesday. Pictured: (from left) Khrystle Rutherford- Ferguson, treasurer, Bahamas Bar Association; Kahlil Parker, president, Bahamas Bar Association; Attorney-General Bethel; Juanita Lewis-Johnson, vice-president, Bahamas Bar Association; and Marco Rolle, permanent secretary, Office of the Attorney-General and Ministry of Legal Affairs. (BIS Photo/Patrick Hanna)

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TheBahamasInvestor.com
Friday, May 18, 2018
Friday, May 18, 2018

The Bahamas’ Financial Transactions Reporting Act, 2018 (FTRA), will meet all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force (FATF), Attorney-General and Minister of Legal Affairs Carl W. Bethel said Wednesday.

Addressing a stakeholder meeting with industry regulators and members of the Bahamas Bar Association, Attorney-General Bethel said the Act will, in a broad sense, be the “heart of the system of compliance and due diligence that will henceforth be the standard of conduct to be expected of all participants in financial services.”

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Delegates from National Tourist Offices, government agencies and other trade representatives, will explore winning sales techniques during the Caribbean Tourism Industry Workshop as part of Caribbean Week New York 2018. 

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TheBahamasInvestor.com
Thursday, May 17, 2018
Thursday, May 17, 2018

Caribbean Tourism OrganizationDelegates from National Tourist Offices, government agencies and other trade representatives, will explore winning sales techniques during the Caribbean Tourism Industry Workshop as part of Caribbean Week New York 2018 (#CWNY18).

The event will take place June 4, 2018, from 9am-noon at the Wyndham New Yorker Hotel (481 Eighth Avenue).

Facilitated by Steve Lang, CEO of Mon Cheri Bridals LLC, and themed “Employing Successful Sales Strategies,” the event will help attendees identify their company’s sales style and learn when and how to modify it to become effective converting sales to profits.

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Norinvest Holding Sa has announced that its fully-owned subsidiary Banque Cramer & Cie SA has sold a majority interest (85 per cent) in its fully-owned subsidiary Private Investment Bank Ltd to IPG Securities Asset Management Ltd, Nassau. 

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TheBahamasInvestor.com
Wednesday, May 16, 2018
Wednesday, May 16, 2018

IPGNorinvest Holding Sa (NIH) has announced that its fully-owned subsidiary Banque Cramer & Cie SA (BCC) has sold a majority interest (85 per cent) in its fully-owned subsidiary Private Investment Bank Ltd (PIBL), an independent and fully-licensed bank with registered office in Nassau, The Bahamas, to IPG Securities Asset Management Ltd, Nassau, a fully-owned subsidiary of IPG Securities Asset Management SA, Geneva (IPG).

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Prime Minister Dr Hubert Minnis has extolled the potential of the maritime sector as another way to diversify the economy. He made the observation during the Official Christening Ceremony at Prince George Dock earlier this week of two state-of-the art, $15 million vessels. The tugboats are part of a public/private partnership to improve maritime services. 

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TheBahamasInvestor.com
Tuesday, May 15, 2018
Tuesday, May 15, 2018

PM christens new $15m vessels

Pictured: Prime Minister Dr Hubert Minnis addresses maritime industry stakeholders at the official naming ceremony of two tugboats at Prince George Dock May 14, 2018. (BIS Photos/Peter Ramsay)

Prime Minister Dr Hubert Minnis has extolled the potential of the maritime sector as another way to diversify the economy. He made the observation during the Official Christening Ceremony at Prince George Dock earlier this week of two state-of-the art, $15 million vessels. The tugboats are part of a public/private partnership to improve maritime services.

“The maritime sector holds great promise for The Bahamas, and is another sector for increased diversification,” the Prime Minister said. “There are approximately 5,000 jobs Bahamians can be trained for in the international maritime industry.”

The state-of-the art vessels valued at $15 million, will complement the government’s tugboats fleet in rendering service to cruise ships coming in port and emergency services to smaller vessels.

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Minister Thompson highlights Grand Bahama’s progress

While progress has been made in economically restoring Grand Bahama, there is still a lot of work to be done, said Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson on the first anniversary of the current Dr Hubert Minnis administration. Pictured: (from left) Parliamentary Secretary of Information and Communication in the Office of the Prime Minister, Pakesia Parker-Edgecombe, MP for West Grand Bahama and Bimini; Minister Thompson; Minister of Youth, Sports and Culture, Michael Pintard, MP for Marco City; and Parliamentary Secretary in the Ministry of Works, Iram Lewis, MP for Central Grand Bahama. (BIS Photo/Lisa Davis)

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TheBahamasInvestor.com
Tuesday, May 15, 2018
Tuesday, May 15, 2018

While progress has been made in economically restoring Grand Bahama, there is still a lot of work to be done, said Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson on the first anniversary of the current Dr Hubert Minnis administration.

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Bahamians speak at CICMC conference

Bahamians were well represented at a recent regional management consulting conference held by the Caribbean Institute of Certified Management Consultants. Pictured: (from left) John Rolle, governor of The Central Bank of The Bahamas; Therese Turner-Jones, general manager of the Country Department at the Inter-American Development Bank; Royann Dean, strategic marketing communications consultant at Royann Dean Consulting; and Donald Demeritte, certified management consultant and president of the CICMC. (Photo courtesy Royann Dean)

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TheBahamasInvestor.com
Tuesday, May 15, 2018
Tuesday, May 15, 2018

Bahamians were well represented at a recent regional management consulting conference held by the Caribbean Institute of Certified Management Consultants (CICMC).

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The Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Cabinet of The Bahamas last week approved the Fiscal Responsibility Bill, 2018 for public consultation. 

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TheBahamasInvestor.com
Tuesday, May 15, 2018
Tuesday, May 15, 2018

Deputy Prime Minister and Minister of Finance Peter Turnquest

Pictured: Deputy Prime Minister and Minister of Finance Peter Turnquest announces that Cabinet of The Bahamas last week approved the Fiscal Responsibility Bill, 2018 for public consultation at a press conference at the Ministry of Finance May 14, 2018. (BIS Photo/Derek Smith)

The Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Cabinet of The Bahamas last week approved the Fiscal Responsibility Bill, 2018 for public consultation.

“Today, we present that Bill to the Bahamian people. The Bill sets guiding principles and rules for the way the government spends and accounts for the people’s money,” DPM Turnquest said at a press conference at the Ministry of Finance May 14, 2018.

“Instead of relying on government to exercise fiscal discipline by choice, the new legislation constrains spending by the force of law.”

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