Pictured: Deputy Prime Minister and Minister of Finance Peter Turnquest speaking at the BCCEC annual conclave. (Dupuch photo/Catherine Morris)

Following push back from the private sector, Deputy Prime Minister and Minister of Finance Peter Turnquest defended the government’s proposed 60 per cent value added tax hike this morning as he addressed the Bahamas Chamber of Commerce & Employers Confederation (BCCEC)’s annual conclave.

“I appreciate these measures are unpopular,” he said of the increase from 7.5 per cent VAT to 12 per cent, which is due to take effect on July 1.

“We are in this together as we only have one Bahamas and we must adapt to be successful together. While the business community has been resistant to these changes, we are calling on you to embrace the notion of shared sacrifice.”

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Pictured: Ministry personnel at the STEP Miami conference June 1: Minister Symonette (centre), consultant LaTonia Tinker-Symonette (left), and project manager Tanya Murray. (Photo courtesy BIS)

Minister of Financial Services, Trade and Industry, and Immigration Brent Symonette and ministry staff attended The Society of Trust and Estate Practitioners (STEP) Miami Annual Summit June 1 in Miami, Florida.

Minister Symonette and ministry delegates engaged fellow attendees on topics with respect to investing and doing business in The Bahamas.

The summit attracted approximately 300 professionals from around the globe.

The conference focused on the latest issues concerning international private client planning, presented by leading professionals in the area who met and shared best practices.

Members of The Bahamas Financial Services Board (BFSB) were also in attendance at the summit.

Sidney Collie, Ambassador of The Bahamas to the United States of America and Permanent Representative of The Bahamas to the Organization of American States (OAS) was elected vice-chair of the General Committee of the OAS General Assembly at its 48th Regular Session held last week in Washington, DC.

The General Committee of the OAS General Assembly is charged with oversight of the negotiation of draft resolutions before they are presented to the assembly for action.

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Minister of Tourism and Aviation Dionisio D’Aguilar spoke of the challenges and opportunities in aviation this morning during his keynote address at the Caribavia aviation industry conference.

The Minister highlighted the importance of airlift to The Bahamas’ tourism product, saying: “When you live on an island visitors can only come by air or sea; we do not enjoy the built-in luxury of a drive-up customer base. We welcome the majority of our visitors by sea, but the injection into the economy increases exponentially when a visitor arrives by air. To succeed, we believe a focus on airlift is paramount.”

The average expenditure from a cruise ship passenger is $70, while visitors arriving by air spend an average of $1,504, according to D’Aguilar.

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With the launch of the first Bahamas Blockchain and Cryptocurrency Conference just over one week away, Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson says the event will be a “marketing tool to allow the world to know that Grand Bahama is open for business”.

The conference, scheduled to be opened by Prime Minister of The Bahamas Dr Hubert Minnis, is being held June 20-22 at the Grand Lucayan resort.

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Last night during the Caribbean Tourism Industry Awards Dinner and Fashion Show, part of the annual Caribbean Week New York events, Bahamas Ministry of Tourism and Aviation Director General Joy Jibrilu received the distinguished Allied Award for her exceptional work towards the sustainable development of Caribbean tourism.

Director General Jibrilu was present at the ceremony at the Wyndham New Yorker in Midtown to accept the award bestowed upon her by the Caribbean Tourism Organization (CTO) and its Allied Members. Mrs. Jibrilu is the first Bahamian member of the CTO family to receive the esteemed award.

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One month after announcing its presence on the island, GIBC Digital hosted Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson, and other officials to a tour of its offices in the Jasmine Corporate Centre June 4.

With its official opening scheduled for the end of June, GIBC Digital has committed to hiring some 50 people, and an initial investment of $2.5 million.

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Her follow the remarks made by Minister of Foreign Affairs Darren Enfield in addressing the 48th Regular Session of the General Assembly of the Organization of American States in Washington, DC held June 4-5:

Mr. President,
The Bahamas also stands in solidarity with the people of Guatemala and assures them of our prayers and thoughts during this time of hardship.

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PARADISE ISLAND, The Bahamas, June 2018 /PRNewswire/ — Atlantis, Paradise Island, the lush, oceanside resort located on Paradise Island in The Bahamas, has announced the launch of three new marine programs in tandem with World Oceans Day (Friday, June 8), a global day that honors one of the world’s most precious natural resources.

Atlantis is known for celebrating all things about the ocean – from the incredible marine habitats to the 141-acre Aquaventure, a beachside waterscape with jaw-dropping waterslides, pools and a one-mile lazy river and rapids ride fashioned after Xcaret and its winding river formations.

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After a ten-day drydock at the Grand Bahama Shipyard, Princess Cruises’ new and improved Crown Princess is ready to rejoin the fleet.

The luxury liner was docked in Freeport, Grand Bahama last month for extensive upgrades, as part of the company’s $450 million investment in improving their flagship vessels.

Enhancements carried out at the GB Shipyard included new dining facilities, improved accommodation, general refurbishing and technical updates.

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