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News & Press - Mar 26/19

 

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Government completes Investment Funds Bill – PDF

The government has published a bill for an act to update the law relating to the regulation of the investment funds business to bring the law into harmony with international standards and best practices. 

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TheBahamasInvestor.com
Wednesday, March 6, 2019
Wednesday, March 6, 2019

The government has published a bill for an act to update the law relating to the regulation of the investment funds business to bring the law into harmony with international standards and best practices.

The bill also expands the scope of the powers of the Securities Commission of The Bahamas in relation to regulated persons and parties related to investment funds to protect investors, the public and the reputation of The Bahamas.

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Central Bank releases latest economic report – PDF

Preliminary economic indicators suggest that the Bahamian economy maintained its modest growth pace during January 2019, reflecting gains in the tourism sector and ongoing foreign investment projects, according to The Central Bank of The Bahamas latest economic review. 

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Central Bank of The Bahamas
Tuesday, March 5, 2019
Tuesday, March 5, 2019

Preliminary economic indicators suggest that the Bahamian economy maintained its modest growth pace during January 2019, reflecting gains in the tourism sector and ongoing foreign investment projects, according to The Central Bank of The Bahamas latest economic review.

The latest price developments through October 2019, continued to be dominated by the impact of the hike in the value added tax (VAT) rate, while increased tax receipts supported the decline in the government’s deficit during the first half of FY2018/2019.

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Central Bank selects digital currency system developer

The Central Bank of The Bahamas is pleased to announce the selection of NZIA Ltd as the preferred technology solutions provider to design and implement the digital fiat currency system for The Bahamas. "Project Sand Dollar" is the official name for this payments system modernisation initiative. 

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Central Bank of The Bahamas
Tuesday, March 5, 2019
Tuesday, March 5, 2019

The Central Bank of The Bahamas is pleased to announce the selection of NZIA Limited as the preferred technology solutions provider to design and implement the digital fiat currency system for The Bahamas. “Project Sand Dollar” is the official name for this payments system modernisation initiative. The Bank will commence negotiations with NZIA Limited to agree the final terms and scope of the engagement.

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Bahamas wins big at USA Today Awards

The Islands of The Bahamas was recognized with 18 awards across nine categories in this year's USA Today 10 Best Readers' Choice Awards for the Caribbean region. 

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Ministry of Tourism/USAToday
Friday, March 1, 2019
Friday, March 1, 2019

NASSAU, Bahamas, Feb. 28, 2019 /PRNewswire/ — The Islands of The Bahamas was recognized with 18 awards across nine categories in this year’s USA Today 10Best Readers’ Choice Awards for the Caribbean. The Bahamas claimed three number one spots for Best Caribbean Beach (Gold Rock Beach in Freeport), Best Caribbean Island for Romance (Green Turtle Cay in The Abacos) and Best Caribbean Restaurant (Graycliff in Nassau).

Among many winning features, The Bahamas was celebrated across categories for its white and pink sand beaches, translucent waters, authentic culture, delicious cuisines and distinct attractions.

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Acting Prime Minister and Minister of Finance Peter Turnquest delivered the Mid-Year Budget Statement in the House of Assembly yesterday. Read/download his full statement here. 

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TheBahamasInvestor.com
Thursday, February 28, 2019
Thursday, February 28, 2019

Minister of Finance delivers Mid-Year Budget

Pictured: Minister Turnquest presents the 2018/19 Mid-Year Budget Statement in the House of Assembly, February 27, 2019. (BIS Photo/Kemuel Stubbs)

Acting Prime Minister and Minister of Finance Peter Turnquest delivered the Mid-Year Budget Statement in the House of Assembly yesterday.

Minister Turnquest said that the government’s 2018/19 Budget was a watershed budget, as it was guided by the stringent fiscal requirements of the then-pending Fiscal Responsibility Act.

The subsequent Fiscal Strategy Report of November then set the stage for the medium-term framework that will underpin the development of the 2019/20 Budget.

He noted that this will be the first time in 12 years that The Bahamas will have seen projected growth of over 2.0 per cent for consecutive years.

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DPM addresses Economic Outlook conference – PDF

Deputy Prime Minister and Minister of Finance Peter Turnquest gave opening remarks at Royal Fidelity Bahamas Economic Outlook yesterday. Read his full address here. 

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TheBahamasInvestor.com
Wednesday, February 27, 2019
Wednesday, February 27, 2019

Deputy Prime Minister and Minister of Finance Peter Turnquest gave opening remarks at Royal Fidelity Bahamas Economic Outlook yesterday.
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PM meets Estonia President

Prime Minister Dr Hubert Minnis held a bilateral meeting with the President of the Republic of Estonia Kersti Kaljulaid yesterday to gain further insight into how her country used technology to transform its government services and attract international investment. Pictured: Prime Minister Minnis and President Kaljulaid discuss the use of technology in the public sector during a meeting February 26, 2019. (Photo courtesy BIS)

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TheBahamasInvestor.com
Wednesday, February 27, 2019
Wednesday, February 27, 2019

Prime Minister Dr Hubert Minnis held a bilateral meeting with the President of the Republic of Estonia Kersti Kaljulaid yesterday to gain further insight into how her country used technology to transform its government services and attract international investment.

The meeting was held on the sidelines of the 30th Inter-Sessional Meeting of the Conference of the Heads of Government of the Caribbean Community (CARICOM) being held this week in Basseterre, St Kits and Nevis.

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Deputy Prime Minister and Minister of Finance Peter Turnquest spoke of the need for innovation and fiscal resilience in light of global challenges this morning, as he delivered the opening address at the Royal Fidelity Bahamas Economic Outlook. 

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TheBahamasInvestor.com
Tuesday, February 26, 2019
Tuesday, February 26, 2019

Royal Fidelity Bahamas Economic OutlookDeputy Prime Minister and Minister of Finance Peter Turnquest spoke of the need for fiscal resilience in light of global challenges this morning, as he delivered the opening address at the Royal Fidelity Bahamas Economic Outlook.

“This is a tremendous time of change,” he told attendees at the one-day conference, held at the Baha Mar Convention Centre. “The financial services sector is undergoing major change as the international regulatory environment continues to evolve.”

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Foreign Ministers meet ahead of CARICOM summit

Caribbean foreign ministers met ahead of the official start of the 30th Inter-Sessional Meeting of CARICOM Heads of Government February 25, 2019 in a special meeting of the Community Council of Ministers. 

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TheBahamasInvestor.com
Tuesday, February 26, 2019
Tuesday, February 26, 2019

Caribbean foreign ministers met ahead of the official start of the 30th Inter-Sessional Meeting of CARICOM Heads of Government February 25, 2019 in a special meeting of the Community Council of Ministers.

Minister of Foreign Affairs Darren Henfield represented The Bahamas at the Tenth Special Meeting of the Community Council of Ministers.

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Nassau port set for revamp – video

With the appointment of a new operator, the country’s premier cruise port in the capital is set to have a major overhaul. Global Ports Holding have provided a rendering of the planned developments. Click here for a full size version of the rendering. Watch a Tourism Today segment about the planned developments below.

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TheBahamasInvestor.com
Tuesday, February 26, 2019
Tuesday, February 26, 2019

With the appointment of a new operator, the country’s premier cruise port in the capital is set to have a major overhaul.

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