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News & Press - Jun 16/19

 

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Central Bank releases April economic report – PDF

In its latest Economic and Financial Developments report, The Central Bank of The Bahamas has said that preliminary indications are that the domestic economy maintained its modest growth trajectory through April. Read the full report here. 

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Central Bank of The Bahamas
Tuesday, June 4, 2019
Tuesday, June 4, 2019

In its latest Economic and Financial Developments report, The Central Bank of The Bahamas has said that preliminary indications are that the domestic economy maintained its modest growth trajectory through April.

Gains in stopover visitor arrivals during the Easter holiday, supported the expansion in tourism, while activity in the construction sector reflected ongoing small to medium-scale foreign investment-related projects.

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Securities Commission hosts regional FATF training

The Financial Action Task Force’s flagship training course on global anti-money laundering and countering the financing of terrorism standards and implementing effective measures is being held in Nassau this week. 

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TheBahamasInvestor.com
Tuesday, June 4, 2019
Tuesday, June 4, 2019

The Financial Action Task Force’s (FATF) flagship training course on global anti-money laundering and countering the financing of terrorism (AML/CFT) standards and implementing effective measures is being held in Nassau this week.

The FATF Standards Training Course is being conducted for members of the Caribbean Financial Action Task Force by the FATF Training and Research Institute, 3-7 June 2019 at the Poinciana House regulatory complex.

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Central Bank releases Q1 statistics – PDF

The Central Bank of The Bahamas has released its Quarterly Statistical Digest for Q1 2019. View or download the complete monetary, financial, fiscal and economic statistics through March here. 

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Central Bank of The Bahamas
Monday, June 3, 2019
Monday, June 3, 2019

QSD May 2019 is now available. For complete viewing of monetary, financial, fiscal and economic statistics through March 2019, please click on the document below.


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LPIA to undergo $200m runway revamp

On June 17, 2019, Nassau Airport Development Co will begin an extensive, $200 million runway rehabilitation project at Lynden Pindling International Airport. 

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TheBahamasInvestor.com
Monday, June 3, 2019
Monday, June 3, 2019

On June 17, 2019, Nassau Airport Development Co (NAD) will begin an extensive runway rehabilitation project on Runway 09/27 (soon to be Runway 10/28) and Taxiway India at Lynden Pindling International Airport (LPIA).

According to officials, the work will take place over a four to six month period with a total capital investment of just under $20 million.

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Finance Ministry to launch Budget website

Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Ministry of Finance is developing a new Budget website. The site will launch next week ahead of the Budget 2019/20 debate in the House of Assembly. Pictured: Minister Turnquest answers questions from the media at the Budget Press Conference, May 30, 2019 at the British Colonial Hilton. (BIS Photo/Kristaan Ingraham)

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TheBahamasInvestor.com
Friday, May 31, 2019
Friday, May 31, 2019

Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Ministry of Finance is developing a new Budget website at bahamasbudget.gov.bs.

“The Budget website will help to simplify the national budget and break it down into non-technical language,” DPM Turnquest explained during the National Budget 2019/20 Press Conference held at the British Colonial Hilton, May 30, 2019.

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DPM holds budget press conference – PDF

Deputy Prime Minister and Minister of Finance Peter Turnquest held a press conference at the British Colonial Hilton yesterday following his Budget Communication to Parliament earlier in the week. Read his remarks here. 

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Ministry of Finance
Friday, May 31, 2019
Friday, May 31, 2019

Deputy Prime Minister and Minister of Finance Peter Turnquest held a press conference in the Victoria Ballroom at The British Colonial Hilton following his Budget Communication to Parliament earlier in the week.


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Minister of Finance Highlights the Key Fiscal Prospects

During his Budget Communication 2019/20 in the House of Assembly, Wednesday, May 29, 2019, Deputy Prime Minister and Minister of Finance Peter Turnquest highlighted key fiscal prospects for the upcoming budget year, and future prospects for the medium term horizon. Pictured: Minister Turnquest addresses Parliament during his Budget Communication. (BIS Photo/Raymond A Bethel Sr)

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TheBahamasInvestor.com
Thursday, May 30, 2019
Thursday, May 30, 2019

During his Budget Communication 2019/20 in the House of Assembly, Wednesday, May 29, 2019, Deputy Prime Minister and Minister of Finance Peter Turnquest highlighted key fiscal prospects for the upcoming budget year, and future prospects for the medium term horizon.

DPM Turnquest said the government’s estimates for the 2019/20 Budget are framed within the projected outcomes of the 2018/19 fiscal year and the current and projected economic climate.

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2019/20 Budget Communication – pdf

Deputy Prime Minister and Minister of Finance Peter Turnquest presented the 2019/20 Budget Communication in the House of Assembly May 29, 2019. Read the full communication here. (BIS Photo/Patrick Hanna)

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Ministry of Finance
Thursday, May 30, 2019
Thursday, May 30, 2019

Deputy Prime Minister and Minister of Finance Peter Turnquest presented the 2019/2020 Budget Communication in the House of Assembly yesterday.

His address presented in the House of Assembly May 29, 2019 centred upon ‘a new era of openness and accountability.’


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Bahamas represented at UNWTO meeting

Director general of the Bahamas Ministry of Tourism and Aviation Joy Jibrilu, along with Michael Pintard, Minister of Agriculture and Marine Resources, represented The Bahamas at the recent UNWTO Regional Commission for the Americas held in La Antigua and Guatemala City, Guatemala. Pictured: Minister Pintard (second from right) and MOTA director general Joy Jibrilu (right), along with officials of UNWTO 64th Regional Commission for the Americas. (Photo courtesy BIS)

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TheBahamasInvestor.com
Tuesday, May 28, 2019
Wednesday, May 29, 2019

Now in its 64th year, this annual event assembled the Ministers of Tourism of the Americas Region, with the aim to address the new challenges in destination management and the role of Destination Management Organizations (DMOs) whose remit is being enlarged as part of the evolution from promotion and marketing to a holistic destination management approach.

The seminar took an extensive look at challenges within the tourism industry such as the “ideal” tourism governance model, maximizing visitor value, while ensuring the competitiveness and sustainability of tourism destinations, and leveraging the benefits of tourism for the local economy and residents.

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AML association Bahamas chapter launched

The Central Bank of The Bahamas Governor John A Rolle brought welcome remarks at the launch of the Association of Certified Anti-Money Laundering Specialists (ACAMS) Bahamas Chapter May 24. Read his comments here. 

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Central Bank of The Bahamas
Tuesday, May 28, 2019
Tuesday, May 28, 2019

Here follows Remarks by Governor John Rolle on fostering training to enhance the effectiveness of Anti-Money Laundering and Counter Financing of Terrorism outcomes:

It is a pleasure to be here at the launch of The Bahamas Chapter of the ACAMS network.

We all appreciate the importance of having skilled professionals to manage the money laundering and related risks posed to the financial system. We also appreciate that The Bahamas must demonstrate increasingly greater effectiveness in countering attempts to exploit its financial system for illicit purposes. To this end, ensuring a critical mass of skills and certifications across our industry is essential. Perception wise, it signals to the outside world that our jurisdiction is not a haven for, nor does it intend to be known as a haven for illicit financial flows.

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