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News & Press - Jan 22/18

 

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Gov to relax Exchange Control

Prime Minister Dr Hubert Minnis has said his administration will relax Exchange Control on capital transactions, namely on capital (investment) and current account (trade) transactions for small and medium-sized Bahamian businesses/enterprises. 

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TheBahamasInvestor.com
Friday, January 5, 2018
Friday, January 5, 2018

Prime Minister Dr Hubert Minnis has said his administration will relax Exchange Control on capital transactions, namely on capital (investment) and current account (trade) transactions for small and medium-sized Bahamian businesses/enterprises (SMEs).

The changes, which will come into effect February 1 this year, are expected to assist SMEs and Bahamian investors by improving the ease of doing business for Bahamians and residents.

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LoI signed on Our Lucayan properties

The government has released a statement regarding the signing of a Letter of Intent between the owners of the Our Lucayan hotel strip in Grand Bahama, Hutchison Whampoa, and CEO of the Wynn Group (Canada) Paul Wynn. 

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TheBahamasInvestor.com
Thursday, January 4, 2018
Thursday, January 4, 2018

The government has released a statement regarding the signing of an LoI between the owners of the Our Lucayan hotel strip in Grand Bahama, Hutchison Whampoa, and CEO of the Wynn Group (Canada) Paul Wynn.

Here follows the statement:

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Finance Ministry releases guide on CRS – PDF

The Financial Secretary in the Ministry of Finance released December 29 Guidance Notes on the Common Reporting Standard for Automatic Exchange of Financial Account Information in Tax Matters. Read or download the notes here. 

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TheBahamasInvestor.com
Thursday, January 4, 2018
Thursday, January 4, 2018

The Financial Secretary in the Ministry of Finance released December 29 Guidance Notes on the Common Reporting Standard for Automatic Exchange of Financial Account Information in Tax Matters. Read or download the notes here.

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An estimated 31,600 passengers traveled through Lynden Pindling International Airport December 15-17, heading home for the holidays or traveling to Nassau/Paradise Island to celebrate the festive season. 

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TheBahamasInvestor.com
Tuesday, December 19, 2017
Tuesday, December 19, 2017

LPIAAn estimated 31,600 passengers traveled through Lynden Pindling International Airport (LPIA) December 15-17, heading home for the holidays or traveling to Nassau/Paradise Island to celebrate the festive season.

US Departures averaged out at just over 9,500 travelers and International Arrivals, including travelers from destinations in the US, totaled more than 12,500 passengers over the three-day period.

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GB Tech Hub Steering Committee meets

Minister of State for Grand Bahama Kwasi Thompson addressed members of the official Tech Hub Steering Committee, which held two days of deliberations at the Grand Lucayan resort, December 14-15. Pictured: Minister of State for Grand Bahama Kwasi Thompson (right), Permanent Secretary in the Office of The Prime Minister Harcourt Brown (centre) and Kristie Powell of Google (left) at the first meeting of the committee. (BIS Photo/Lisa Davis)

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TheBahamasInvestor.com
Tuesday, December 19, 2017
Tuesday, December 19, 2017

Minister of State for Grand Bahama Kwasi Thompson addressed members of the official Tech Hub Steering Committee, which held two days of deliberations at the Grand Lucayan resort, December 14-15.

After giving his prepared remarks, Minister Thompson said: “As you make your recommendations, I want you to be specific, I do not want this to be a report that goes on a shelf…I want this to be a real working plan and plan of action which the government can take, approve and implement.”

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PM calls on Bahamas diaspora to invest

The recently passed Commercial Enterprise Bill will help to liberalize the Bahamian economy and offer Bahamians living overseas to chance to invest in their homeland, Prime Minister Dr Hubert Minnis has said. 

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TheBahamasInvestor.com
Monday, December 18, 2017
Monday, December 18, 2017

The recently passed Commercial Enterprise Bill (CEB) will help to liberalize the Bahamian economy, Prime Minister Dr Hubert Minnis has said.

The Bill was passed in the House of Assembly on November 22, 2017 and in the Senate on December 4, 2017.

Addressing a reception for Bahamians and Friends of The Bahamas residing in Washington, DC, Northern Virginia and Maryland, including Baltimore December 16, Prime Minister Minnis encouraged the attendees, Bahamians throughout the diaspora, and individuals of Bahamian heritage who are not Bahamian citizens but have family ties to The Bahamas, to utilize the new CEB to invest in The Bahamas.

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PM reaffirms commitment to economic growth

The government of The Bahamas has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said recently. 

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TheBahamasInvestor.com
Monday, December 18, 2017
Monday, December 18, 2017

The government of The Bahamas has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said recently.

The Prime Minister made the comment at a Bahamas reception held in Washington, DC, December 16, 2017 following international credit rating agency Standard & Poor’s (S&P) affirmation of The Bahamas’ stable economic outlook.

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S&P affirms Bahamas credit rating

US-based credit ratings agency Standard & Poor’s has affirmed The Bahamas’ sovereign credit rating, while continuing to ascribe a “stable” long-term outlook due to the new government’s “solid mandate to facilitate economic and debt stabilisation”. 

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Nation News
Monday, December 18, 2017
Monday, December 18, 2017

NEW YORK (Nation News) – The US-based credit ratings agency, Standard & Poor’s (S&P), has affirmed The Bahamas’ sovereign credit rating while continuing to ascribe a “stable” long-term outlook to the Caribbean country due to the new government’s “solid mandate to facilitate economic and debt stabilization”.

In its statement, S&P gave the Bahamas’ sovereign credit rating as BB+/B, saying it reflects its expectation of robust political institutions to “anchor fiscal consolidation” and higher, although still low, economic growth over the next one to two years — another positive sign for the Bahamas as it avoided blacklisting from the European Union.’

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This is an excerpt from Nation News as it appeared on December 18, 2017. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >
Bahamas economy grows 1.2 per cent – PDF

In its Preliminary Overview of the Economies of Latin America and the Caribbean, the Economic Commission for Latin America and the Caribbean notes that the economic growth of The Bahamas hit 1.2 per cent in 2017, as compared to 0.2 per cent the previous year. Read the full review here. 

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TheBahamasInvestor.com
Friday, December 15, 2017
Friday, December 15, 2017

In its Preliminary Overview of the Economies of Latin America and the Caribbean, the Economic Commission for Latin America and the Caribbean notes that The Bahamas economy has growth hit 1.2 per cent in 2017, as compared to 0.2 per cent the previous year.

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Bahamas introduces new funds bill

According to Deputy Prime Minister and Minister of Finance Peter Turnquest, the revised Investment Funds Bill creates an opportunity for growth-friendly legislative framework, unencumbered by unnecessary barriers to entry. Pictured: Deputy Prime Minister and Minister of Finance Peter Turnquest addresses a forum hosted by the Securities Commission of The Bahamas. (BIS Photo/Kristaan Ingraham)

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TheBahamasInvestor.com
Wednesday, December 13, 2017
Wednesday, December 13, 2017

According to Deputy Prime Minister and Minister of Finance Peter Turnquest, the revised Investment Funds Bill creates an opportunity for growth-friendly legislative framework, unencumbered by unnecessary barriers to entry.

Turnquest made the comments during the opening address at an industry meeting held by the Securities Commission of The Bahamas. The meeting was held 7 December.

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