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Minister of State for Finance Michael Halkitis calls for vigilance and fairness from regulators as The Caribbean Assocation of Insurance Regulators Workshop and Conference kicks off in Nassau. 

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TheBahamasInvestor.com
Monday, June 11, 2012
Monday, June 11, 2012

Insurance industry leaders from across the Caribbean are meetingInsurance industry leaders from across the Caribbean are meeting in The Bahamas this week to look at ways of improving financial analysis and strengthening the sector in the wake of the global financial crisis.

The Caribbean Assocation of Insurance Regulators Workshop and Conference began today at the British Colonial Hilton in Nassau.

Opening the four-day event, Minister of State for Finance Michael Halkitis said: “As world leaders continue to deal with the global financial crisis, regulatory challenges are emerging. It is more important now than ever for regulators to be vigilant and promote the development of fair, safe and stable insurance markets.”

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Price of oil – chart

This chart provides some long-term perspective on the price of a barrel of crude oil with a long-term chart of inflation-adjusted West Texas Intermediate Crude. 

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Chart of the Day
Monday, June 11, 2012
Monday, June 11, 2012

Today’s chart provides some long-term perspective on the price of a barrel of crude oil with a long-term chart of inflation-adjusted West Texas Intermediate Crude. Today’s chart illustrates that most oil price spikes coincided with Middle East crises and often preceded or coincided with a US recession. The logic behind this is that a Middle East crisis can potentially disrupt an already tight oil supply and thereby drive crude oil prices higher. Also, rising oil / energy prices can, among other things, increase costs within the global economy’s supply / distribution chain and thereby contribute to inflation which can in turn encourage governments to halt or reduce any plans to stimulate the economy. As a result of a slowing global economy as well as increased global oil production, crude oil prices have declined over 20% since early May alone.

This is an excerpt from Chart of the Day as it appeared on June 11, 2012. For updates or to read the current version of this post in its entirety, please click here.

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Bayside restaurant hosted an evening of food and music laid on by the National Culinary Team ahead of the upcoming Taste of the Caribbean competition in Florida. Watch an interview with Bridgette Murray from the Bahamas Hotel Association and Dianne Gibson, team administrator, here. 

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TheBahamasInvestor.com
Monday, June 11, 2012
Monday, June 11, 2012

Bayside restaurant hosted an evening of food and music laid on by the National Culinary Team ahead of the upcoming Taste of the Caribbean competition in Florida. Watch an interview with Bridgette Murray from the Bahamas Hotel Association and Dianne Gibson, team administrator, here.

BACO announces new executive committee

The Bahamas Association of Compliance Officers has elected its new Excom for 2012-2013. 

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TheBahamasInvestor.com
Friday, June 8, 2012
Friday, June 8, 2012

The Bahamas Association of Compliance Officers (BACO) has elected its new Excom for 2012-2013.

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Halkitis: government will not backtrack

Minister of State in the Ministry of Finance Michael Halkitis said this week that the government is committed to its campaign pledges on the economy and government finances. The Minister made the remarks during his contribution to the 2012/13 budget debate. 

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TheBahamasInvestor.com
Friday, June 8, 2012
Friday, June 8, 2012

The state of the economy and of government finances, although challenging, will not deter the government from its commitments made to the Bahamian people, nor cause it to backtrack on any of those commitments, Minister of State in the Ministry of Finance Michael Halkitis said this week.

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Speaking during the 2012-2013 budget debate in the House of Assembly this week, Minister of Financial Services Ryan Pinder laid out a six-month plan for the Ministry of Financial Services. Goals include increasing opportunities in the industry for Bahamians and reviewing global markets. 

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TheBahamasInvestor.com
Friday, June 8, 2012
Friday, June 8, 2012

Baha Mar marks first milestoneMinister of Financial Services Ryan Pinder has laid out a six-month plan for the Ministry of Financial Services in order reach a set of goals.

Minister Pinder made the remarks this week during his contribution in the 2012/2013 budget debate in the House of Assembly.

“We in the Ministry have already started our initial six-month strategy plan, which will be expanded into a more comprehensive five-year strategic plan for the Ministry of Financial Services,” he said.

The Minister went on to say that Bahamian ownership in the sector is still “limited” and that further development of the domestic financial services industry, products and business lines was needed to facilitate the ownership of the industry by Bahamians.
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New registration requirements for compliance officers and BTC's new mobile phone features top the news stories in the ZNS business report. Watch the full report here. 

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TheBahamasInvestor.com
Thursday, June 7, 2012
Thursday, June 7, 2012

New registration requirements for compliance officers and BTC’s new mobile phone features top the news stories in the ZNS business report. Watch the full report here.

Minister of Financial Services lays out strategy for sector

In his contribution to the 2012/2013 budget debate in Parliament this week, Minister of Financial Services Ryan Pinder said that he wanted the world to know that The Bahamas is "open for business." 

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TheBahamasInvestor.com
Thursday, June 7, 2012
Thursday, June 7, 2012

Minister of Financial Services Ryan Pinder says that, when it comes to financial services, he wants the world to know that The Bahamas is “open for business.”

Minister Pinder made the remarks during his contribution to the 2012/2013 budget debate this week in the House of Assembly.

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Baleària expands services to Grand Bahama

Baleària Bahamas Express, owned by Spanish ferry operator Baleària, and the Capo group, announces the ability to transport cargo between the US and Freeport, Grand Bahama. 

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TheBahamasInvestor.com
Thursday, June 7, 2012
Thursday, June 7, 2012

Miami, FL, June 01, 2012 (PR.com) — Baleària Bahamas Express, owned by Spanish ferry operator Baleària, and the Capo group, announces the ability to transport cargo between mainland America and Grand Bahama Island (Freeport). Traditionally known for ferry services for day-trippers or passengers seeking an overnight stay on-island, the hi-speed vessel, christened “Pinar del Rio,” operates daily between Fort Lauderdale and Grand Bahama Island (Freeport). The service offers clients the opportunity to conveniently transport cargo of varying size and weight such as furniture and automobiles.

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Government to attempt to stem tax revenue “leakage”

The new administration is looking to overhaul the tax collection system to increase revenue from real property tax and tobacco, as well as negotiate air space navigation charges. 

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TheBahamasInvestor.com
Wednesday, June 6, 2012
Wednesday, June 6, 2012

The real property tax system suffers from a number of critical structural defects, and as result, annual revenues generated by the system fall significantly short of the amounts that should rightfully be collected, Prime Minister Perry Christie has said.

The Prime Minister made the remarks during the presentation of the 2012/2013 Budget Communication last week.

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