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News & Press - Oct 20/19

 

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Minister of Foreign Affairs Darren Henfield is in New York City for the 74th United Nations General Assembly, the Cabinet Office has announced. 

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TheBahamasInvestor.com
Tuesday, September 24, 2019
Tuesday, September 24, 2019

UNGAMinister of Foreign Affairs Darren Henfield is in New York City for the 74th United Nations General Assembly (UNGA), the Cabinet Office has announced.

Minister Henfield heads The Bahamas delegation, which includes Renward Wells, Minister of Transport and Local Government; Ricky Mackey, MP; Sharon Brennen-Haylock, director-general, Ministry of Foreign Affairs; and Kenneth Wallace-Whitfield, foreign service officer, Ministry of Foreign Affairs.

Minister Henfield will also attend various meetings on the margins of the General Assembly, including the US-CARICOM Ministerial with US Secretary of State Mike Pompeo, when the Minister will provide an update on The Bahamas’ Hurricane Dorian response.

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Buckeye Partners, L.P. (NYSE: BPL) has reported that it has resumed full operations at its Buckeye Bahamas Hub on Grand Bahama following completion of inspections and necessary repairs of impacts from Hurricane Dorian. 

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Buckeye Partners
Monday, September 23, 2019
Monday, September 23, 2019

Buckeye oil hub resumes full operationsHOUSTON, Sept. 20, 2019 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) today reported that it resumed full operations at its Buckeye Bahamas Hub (“BBH”) following completion of inspections and necessary repairs of impacts from Hurricane Dorian. Completed assessments of the facility identified only minor damage from wind and rain, and no indications of any product release or environmental threats.

“On behalf of the entire company, I want to thank the Buckeye emergency response teams and all of our employees in The Bahamas for their dedicated work to safely restore operations at our Buckeye Bahamas Hub,” said Khalid A. Muslih, Executive Vice President and President of Buckeye’s Global Marine Terminals.

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PM meets with BCCEC to discuss rebuilding after Dorian

Prime Minister Dr Hubert Minnis met with Bahamas Chamber of Commerce and Employers Confederation to discuss efforts to rebuild the islands affected by Hurricane Dorian. 

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TheBahamasInvestor.com
Friday, September 20, 2019
Friday, September 20, 2019

Prime Minister Dr Hubert Minnis emphasized the need to remove the red tape to ensure the rebuilding process on the islands of Abaco and Grand Bahama proceeds as quickly and efficiently as possible.

Prime Minister Minnis was speaking at a meeting with the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) 19 September about rebuilding the islands affected by Hurricane Dorian.

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Baha Mar resort in Nassau has committed $2 million in financial aid to support immediate disaster relief and long-term recovery for Bahamians severely impacted by Hurricane Dorian. 

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TheBahamasInvestor.com
Thursday, September 19, 2019
Thursday, September 19, 2019

Baha Mar to host tennis fundraiserBaha Mar resort in Nassau has committed $2 million in financial aid to support immediate disaster relief and long-term recovery for Bahamians severely impacted by Hurricane Dorian.

Baha Mar’s $2 million commitment will go directly to partner relief organizations in The Bahamas, as well as Baha Mar’s own work in delivering emergency relief to volunteers and disaster victims.

This donation is part of Baha Mar’s ongoing commitment to a series of continued relief efforts, including a dedicated plan and investment into the longer-term recovery of The Bahamas.

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Major projects on GB to go ahead, says Minister

Minister of State for Grand Bahama Kwasi Thompson has told residents of Grand Bahama that developers of two major projects on the island have reconfirmed their commitment to the island. (Stock photo)

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TheBahamasInvestor.com
Thursday, September 19, 2019
Thursday, September 19, 2019

Minister of State for Grand Bahama Kwasi Thompson has told residents of Grand Bahama that developers of two major projects on the island have reconfirmed their commitment to the island.

Minister Thompson made the announcement during a press conference, September 16.

He said that partners in two major projects for Grand Bahama – the Carnival Cruise Port and the Royal Caribbean and ITM negotiations with respect to the Grand Lucayan – have been in contact with the government, have been on island and have confirmed their commitments to proceed with those developments.

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Engel & Völkers expands real estate team

Engel & Völkers Bahamas has announced that the Andrews Group has joined the brokerage firm at its Nassau office. 

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TheBahamasInvestor.com
Thursday, September 19, 2019
Thursday, September 19, 2019

Engel & Völkers Bahamas is pleased to announce the Andrews Group has joined the brokerage firm at its Nassau, Bahamas office.

Headed by veteran broker Silvina Andrews, the team includes real estate advisors Phillip Kemp and Ana Wassitsch and together they combine 34 years of experience as real estate professionals in The Bahamas.

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Dorian could cost Bahamas $3-5bn

Moody’s Analytics estimates that the initial economic costs to The Bahamas of Hurricane Dorian will be between $3 billion and $5 billion. Pictured: Hurricane Dorian at peak intensity over the Abaco Islands on September 1. (NOAA Photo/Wiki Commons)

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TheBahamasInvestor.com
Wednesday, September 18, 2019
Wednesday, September 18, 2019

Moody’s Analytics estimates that the initial economic costs to The Bahamas of Hurricane Dorian will be between $3 billion and $5 billion.

It also estimates that the overall economic costs of Hurricane Dorian in the region will be between $3.5 billion and $6.5 billion, reflecting damage and lost output.

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The Baha Mar resort has announced a tennis fundraising event to benefit victims of Hurricane Dorian across The Abacos and Grand Bahama islands. The event will take place November 7-10 at the resort on Cable Beach. 

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TheBahamasInvestor.com
Tuesday, September 17, 2019
Tuesday, September 17, 2019

Baha Mar to host tennis fundraiserThe Baha Mar resort has announced a tennis fundraising event to benefit victims of Hurricane Dorian across The Abacos and Grand Bahama islands. The event will take place November 7-10 at the resort on Cable Beach.

Tennis legends Andy Roddick, Mark Knowles, Tommy Haas and James Blake will take to the court over the weekend.

All proceeds and winnings from the tournament will go directly to aid Hurricane Dorian’s victims and support for the long-term recovery of The Bahamas.

“Baha Mar is committed to sustained relief and rebuilding efforts for our neighbouring islands,” said Karin Salinas, senior vice president, marketing, Baha Mar. “We are bringing our international network of friends and supporters together at Baha Mar to raise funds, awareness and champion The Bahamas on a global stage.”

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Central Bank readies for EC liberalization on property transactions

As of October 1, 2019, The Central Bank of The Bahamas proposes to liberalize Exchange Controls (EC) on residential property transactions (both purchases and sales) involving non-residents. 

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Central Bank of The Bahamas
Monday, September 16, 2019
Monday, September 16, 2019

As of October 1st 2019, the Central Bank of The Bahamas proposes to liberalize Exchange Controls (EC) on residential property transactions (both purchases and sales) involving non-residents. This would apply regardless of whether the transactions take place in the name of an entity or vehicle ultimately owned by such non-resident; or directly by the non-resident.

Concurrently, the Bank will delegate the authority to commercial banks (authorized dealers) to sell foreign currency for repatriation of residential real estate proceeds, on evidence that the beneficial owner of the sold property is non-resident.

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The Bahamas Investor – Fall & Winter 2019/20 Press release

Etienne Dupuch Jr Publications Ltd is pleased to announce the release of the Fall & Winter 2019 issue of The Bahamas Investor magazine, featuring an exclusive interview with Deltec CEO Odetta Morton, a look at the work of the newly launched Small Business Development Centre and the story behind The Bahamas' record-breaking tourism boom. 

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TheBahamasInvestor.com
Sunday, September 15, 2019
Sunday, September 15, 2019

Etienne Dupuch Jr Publications Ltd is pleased to announce the release of the Fall & Winter 2019 issue of The Bahamas Investor magazine, featuring an exclusive interview with Deltec CEO Odetta Morton, a look at the work of the newly launched Small Business Development Centre and the story behind The Bahamas’ record-breaking tourism boom.

Crammed with insightful features, investor information and financial services sector news, The Bahamas Investor is an indispensable tool for anyone looking to invest or do business in The Bahamas.

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