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News & Press - Sep 23/18

 

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The Bahamas Investor

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The Central Bank of The Bahamas is set to lay down the revised guidelines for the standards and requirements that licensees must adhere to. The Central Bank has also announced that the consultation period is now over. 

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TheBahamasInvestor.com
Wednesday, December 22, 2010
Wednesday, December 22, 2010

The Central Bank of The Bahamas has wrapped up its consultation period on proposed amendments to its risk management policy for licensees.

Financial institutions had until December 3, to submit comments or questions to the Policy Unit, Bank Supervision Department, on the proposed amendments to the Guidelines for the Management of Large Exposures.

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With the New Year dawning, the Bahamas Financial Services Board is looking to put before government initiatives to maintain the jurisdiction's competitive edge. 

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TheBahamasInvestor.com
Tuesday, December 21, 2010
Tuesday, December 21, 2010

Several key pieces of legislation to go before government in the near future are set to keep The Bahamas’ financial services sector competitive in an increasingly sophisticated marketplace, according to Bahamas Financial Services Board (BFSB) chief executive officer Wendy Warren.

In line with a multilateral memorandum of understanding with the International Organization of Securities Commissions (ISOCO), The Bahamas is looking to enact a Securities Industry Act, which Warren claims will allow the industry to be more responsive to business demands. The act is a “major undertaking for The Bahamas and will provide for a number of rules and regulations to meet changes in the marketplace and regulation,” she adds.

Amendments to the Trustee Act to be considered by the government will help modernize the groundbreaking legislation, which has formed a template for similar provisions adopted by other jurisdictions.

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New stadium spurs sports centre master plan

World-class venue to be the centrepiece of 450-acre sports centre redevelopment that includes an athletes' village, velodrome cycle track and American football field 

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TheBahamasInvestor.com
Tuesday, December 21, 2010
Tuesday, December 21, 2010

As the new $30-million Thomas A Robinson National Stadium in the heart of New Providence enters the final stage of construction, the Ministry of Youth, Sports and Culture has signed-off on a master plan to develop the surrounding 450-acre plot, which it also owns.

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Speaking at the Bahamas Society of Engineers, Bahamas Electricity Corp (BEC) general manager Kevin Basden says he sees potential in renewable energy, and urges entrepreneurs, skilled professionals to grasp opportunities. 

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TheBahamasInvestor.com
Wednesday, December 15, 2010
Wednesday, December 15, 2010

The Bahamas Electricity Corp (BEC) has called for Bahamian engineers to lend their skills to the drive towards more renewable energy sources.

Addressing the Bahamas Society of Engineers at their 2010 Conference earlier this month, BEC general manager Kevin Basden appealed to Bahamian engineers saying: “This is a brand new field. It will open up some opportunities for engineers and entrepreneurs.”

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Nassau is gradually getting a face lift, as major downtown projects near completion. The new $11.3-million straw market is well over half-way completed, while the Elizabeth on Bay restaurant and retail plaza is all but done. 

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TheBahamasInvestor.com
Wednesday, December 15, 2010
Wednesday, December 15, 2010

Two major projects in the heart of downtown Nassau on New Providence are on, or ahead of, schedule, according to the chief of a leading construction company involved in the developments.

“Both major projects that we are involved in downtown are progressing very well,” says Richard Wilson, managing director at Cavalier Construction, referring to the new straw market building on Bay Street and the Elizabeth on Bay leisure and retail plaza on the waterfront.

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With Phase I of the redevelopment of Lynden Pindling International Airport due to be completed in March, the financing for Phase II is already secured and the Nassau Airport Development Co (NAD) has received funds of $165 million. 

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TheBahamasInvestor.com
Wednesday, December 8, 2010
Wednesday, December 8, 2010

Nassau Airport Development Co (NAD)?has received finances to kick-start Phase II of the Lynden Pindling International Airport’s redevelopment project, with a $165 million injection into its bank account last month.

The money was deposited on November 30, allowing NAD to settle debts incurred during Phase I and replenish its revolving credit facility, as it carries out the $410 million airport expansion programme.

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The new issue of The Bahamas Investor, now in its fifth year, to be published January 1, 2011, focuses on the local, home-grown talent that is having an impact on the financial services industry in The Bahamas. 

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TheBahamasInvestor.com
Wednesday, December 8, 2010
Wednesday, December 8, 2010

The new issue of The Bahamas Investor, now in its fifth year, to be published January 1, 2011, focuses on the local, home-grown talent that is having an impact on the financial services industry in The Bahamas.

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The Bahamas Investor July 2010 Sneak Peak

International investors will find attractive incentives to do business in The Bahamas, available across a wide range of sectors from tourism to agriculture and industry. Learn more about the country’s vibrant investment environment, and what to include in a proposal. 

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TheBahamasInvestor.com
Tuesday, November 30, 2010
Tuesday, November 30, 2010

New product legislation, a robust economy and a surge of spectacular new developments are securing The Bahamas’ pole position as a haven for international investment. Acclaimed as the top international financial centre in the Americas just one year ago, The Bahamas has continued to grow its economy and draw new business throughout 2009, and you can read about the reasons behind this and the many investment opportunities available in the latest issue of The Bahamas Investor (www.thebahamasinvestor.com).

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The Bahamas is facing a "brave new world" with many challenges for economic growth, but opportunities still exist, according to Peter Turnquest, chamber president and chairman of SkyBahamas Airlines Ltd. 

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TheBahamasInvestor.com
Tuesday, November 30, 2010
Tuesday, November 30, 2010

Speaking during the recent Accountants’ Week 2010, Grand Bahama Chamber of Commerce president Peter Turnquest highlighted some of the key areas in which The Bahamas can nurture economic growth, and called for renewed vigour in achieving national goals.

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In The Bahamas there is an absence of direct taxation, with the government gaining income through taxes on imported goods and materials. The tariff rate of 33 per cent may have to be reviewed once the jurisdiction joins the World Trade Organization. 

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TheBahamasInvestor.com
Wednesday, November 24, 2010
Wednesday, November 24, 2010

Since tariffs are viewed as an impediment to trade, The Bahamas’ bid to join the World Trade Organization (WTO) will likely result in the nation having to slash its 33 per cent average tariff rate, to fall more in line with the nine per cent levied by other WTO members.

“We have to go through a painful process of identifying which categories are going to be changed in order to accomplish a lower average in tariff,”?says WTO chief negotiator and chartered accountant Raymond Winder. He was speaking at a seminar hosted by the Bahamas Institute of Chartered Accountants last week.

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