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News & Press - Jun 16/19

 

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Real estate leaders warn of increased compliance

With a booming market and more luxury developments coming on stream than ever before, the real estate industry faces a new era of compliance, industry leaders warned at the Bahamas Real Estate Association held at the beginning of this month. Pictured: (from left) BREA Compliance Committee chairman David Morley, BREA Director Sally Hutcheson of SALCO Realty, centre, and BREA President, Christine Wallace-Whitfield, Island Living Real Estate. (BREA Photo)

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TheBahamasInvestor.com
Monday, May 13, 2019
Tuesday, May 14, 2019

With a booming market and more luxury developments coming on stream than ever before, the real estate industry faces a new era of compliance, industry leaders warned at the Bahamas Real Estate Association (BREA) held at the beginning of this month.

“This has been another interesting year with many obstacles and challenges,” BREA President Christine Wallace-Whitfield told a packed house at the Nassau Yacht Club May 1.

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Buckeye Partners, LP (NYSE: BPL), which operates its flagship marine terminal in The Bahamas, has reported its financial results for the first quarter of 2019. Net income attributable to Buckeye was $80.8 million for the first quarter of 2019 compared to $112.4 million for the first quarter of 2018. 

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Buckeye Partners LP
Monday, May 13, 2019
Monday, May 13, 2019

Buckeye PartnersHOUSTON, May 2019 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) today reported its financial results for the first quarter of 2019. Net income attributable to Buckeye was $80.8 million for the first quarter of 2019 compared to $112.4 million for the first quarter of 2018. Adjusted EBITDA (as defined below) for the first quarter of 2019 was $216.4 million compared to $261.7 million for the first quarter of 2018.

Buckeye’s first quarter 2019 results were impacted by the sale of the partnership’s 50% equity interest in VTTI, which was completed in January 2019, and the sale of the package of domestic pipeline and terminal assets (the “Domestic Asset Package”), which closed in December 2018. Included in the first quarter 2018 results was a $43.6 million contribution to Adjusted EBITDA from the divested assets.

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PM: New complex to boost regulator synergy

Opened by Prime Minister Dr Hubert Minnis during a ceremony 26 April 2019, the 7.3-acre Poinciana House complex located on East Bay Street is now home to three of the country’s financial regulators. (BIS Photo/Yontalay Bowe)

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TheBahamasInvestor.com
Thursday, May 9, 2019
Thursday, May 9, 2019

Opened by Prime Minister Dr Hubert Minnis during a ceremony 26 April 2019, the 7.3-acre Poinciana House complex located on East Bay Street is now home to three of the country’s financial regulators: the Securities Commission of The Bahamas; the Insurance Commission of The Bahamas; and the Compliance Commission of The Bahamas.

At the opening, the Prime Minister said the presence of financial regulators together at Poinciana House will allow them to take advantage of efficiencies due to their proximity.

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Junkanoo showcased at New Orleans Jazz & Heritage Festival – photos

A Bahamas Junkanoo contingent performed at the 50th Anniversary New Orleans Jazz and Heritage Festival 2019, May 3-4. 

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TheBahamasInvestor.com
Thursday, May 9, 2019
Thursday, May 9, 2019

A Bahamas Junkanoo contingent performed at the 50th Anniversary New Orleans Jazz and Heritage Festival 2019, May 3-4.

The group comprised members of the Saxons Superstars, One Family, Roots, and the Valley Boys.

Minister of Tourism & Aviation Dionisio D’Aguilar, Ministry officials, and entertainers Ronald Simms and Fred Munnings were also at the festival.

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The business news this week in The Bahamas includes the roll out of the new Labour Force Survey and how one Bahamian entrepreneur secured funding for an eco-friendly car rental business through the Small Business Development Centre. Watch the report from ZNS News here. 

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ZNS News
Thursday, May 9, 2019
Thursday, May 9, 2019

Continue to see videoThe business news this week in The Bahamas includes the roll out of the new Labour Force Survey and how one Bahamian entrepreneur secured funding for an eco-friendly car rental business through the Small Business Development Centre.
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Carnival Sunrise makes inaugural visit to Grand Bahama

The Carnival Sunrise made its inaugural visit to Grand Bahama Island May 4. With a total of 5,000 passengers and crew members, the ship sailed from Norfolk, Virginia, to Half Moon Cay and added the brief stop to Freeport before returning to Norfolk, Virginia. (MOTA Photo)

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Ministry of Tourism
Wednesday, May 8, 2019
Wednesday, May 8, 2019

Saturday, May 4th, the Carnival Sunrise made its inaugural visit to Grand Bahama Island, where the Captain and crew were welcomed by members of the Freeport Harbour Company, Freeport Ship Services, and the Ministry of Tourism and Aviation (MOTA).

The visit, which was an unscheduled call to the harbour, was the first voyage made by the ship after its full renovation in April 2019.

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MOTA launches campaign in Canada

The Bahamas Ministry of Tourism and Aviation presented its new creative campaign featuring Lenny Kravitz to Canadian media and travel industry partners during a local campaign launch event May 2 at the Bisha Hotel in Toronto. Pictured: (from left) Paul Strachan, senior director, Bahamas Tourist Office, Canada; Joy Jibrilu, director general, Bahamas Ministry of Tourism; Dionisio D'Aguilar, Minister of Tourism and Aviation; Alvin Smith, Bahamas high commissioner; and Tommy Thompson, deputy director general. (MOTA Photo)

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TheBahamasInvestor.com
Tuesday, May 7, 2019
Tuesday, May 7, 2019

The Bahamas Ministry of Tourism and Aviation (MOTA) presented its new creative campaign featuring Lenny Kravitz to Canadian media and travel industry partners during a local campaign launch event May 2 at the Bisha Hotel in Toronto.

Set to the lyrics of Kravitz’s song Fly Away, the television commercial and supporting marketing campaign debuted in January in the US and will begin running in broadcast markets across Canada this week.

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Royal Caribbean opens CocoCay private destination

Royal Caribbean International has opened its $250m Perfect Day at CocoCay private destination – the first in the cruise line's new global Perfect Day Island Collection. 

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Royal Caribbean International
Monday, May 6, 2019
Monday, May 6, 2019

MIAMI, May 6, 2019 /PRNewswire/ — Unlike any private island the world has ever seen, Royal Caribbean International’s highly anticipated Perfect Day at CocoCay – the first in the cruise line’s new Perfect Day Island Collection of next-level private destinations around the world – is now open.

The $250 million transformation of the line’s private island in The Bahamas debuts a combination of first-of-their-kind thrills and one-of-a-kind ways to chill that forever changes what is possible in a vacation destination.

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Central Bank releases March economic review – PDF

Indications are that the domestic economy maintained its modest pace of growth over the review month of March, according to The Central Bank of The Bahamas' latest Monthly Economic and Financial Developments report. 

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Central Bank of The Bahamas
Monday, May 6, 2019
Monday, May 6, 2019

Indications are that the domestic economy maintained its modest pace of growth over the review month of March according to The Central Bank of The Bahamas’ latest Monthly Economic and Financial Developments report.

The sustained increase in stopover visitor arrivals supported gains in tourism sector output, while ongoing medium and small-scale foreign investment projects undergirded activity in the construction sector.

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Landis+Gyr and Grand Bahama Power Co, a subsidiary of Emera Inc, have reached an agreement covering advanced metering and intelligent grid technology to support the utility's grid modernization strategy. 

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Landis+Gyr
Thursday, May 2, 2019
Thursday, May 2, 2019

ALT TAG HERE ALPHARETTA, Ga., May 2019 /PRNewswire/ — Landis+Gyr (SWISS: LAND.SW) and Grand Bahama Power Company (GBPC), a subsidiary of Emera Inc., have reached an agreement covering advanced metering and intelligent grid technology to support the utility’s grid modernization strategy.

GBPC will deploy Landis+Gyr’s Gridstream® Connect solution to include advanced electricity meters, distribution automation devices and meter data management. The utility selected Landis+Gyr’s multipurpose IoT network for its ability to address additional current and future applications, such as distribution automation, renewable resource integration and smart street lighting. Landis+Gyr’s MDMS platform will be utilized as the central engine for validation and system-wide integration of metering data.

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