Prime Minister Hubert Ingraham greets Ernesto Soberon Guzman, Ambassador of The Republic of Cuba, during a courtesy call at the office of the Prime Minister March 22. (BIS Photo/Peter Ramsay)

Dr Peter Manz, Ambassador of Austria, is welcomed by Prime Minister Hubert Ingraham during a courtesy call at the Office of the Prime Minister on Cable Beach, March 22. (BIS Photo/Peter Ramsay)

The College of the Bahamas (COB) presented a panel discussion about Bahamian Economic Resiliency and the Global Economic Crisis on Wednesday at its Performing Arts Center in Nassau. The event was sponsored by the CFA Society of the Bahamas and the Bank of the Bahamas International (BOB).

Moderator Wendall Jones, chairman and chief executive officer of Jones Communications International Ltd, orchestrated the discussions, which initially centered on the immediate headwinds facing the Bahamian economy, as well as oil inflation, slow economic growth and high national debt.

“Oil prices factor into all [economic] projections, especially considering our dependence on imports,” said panelist Wendy Craigg, Governor and Chairman of the Board of Directors of The Central Bank of The Bahamas, adding that she expects oil prices to return to “reasonable levels soon.”

Slowing and uneven economic growth was a concern of all the panelists. With growth forecasts coming in at 1 to 3 per cent, there is concern that this will fall short of national needs. “I am worried about the ‘new normal’ and the much more competitive environment with attracting foreign investment funds,” said Michael Halkitis, a chartered financial analyst and member of the senate. “There will be big challenges going forward.”

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Minister of Tourism and Aviation Vincent Vanderpool-Wallace delivered remarks at the official opening of the Balmoral Tower at Sandals Royal Bahamian during a reception held March 19.

Vanderpool-Wallace said Sandals has made a major contribution to the Bahamian economy. The Minister also participated in a ribbon-cutting ceremony.

The renovation cost $17.5 million and includes a luxury penthouse suite and “oversized” balconies. (more photos after the jump)

Sandals CEO Adam Stewart speaks to members of the local and international press during the official opening of the Balmoral Tower at Sandals Royal Bahamian. (BIS Photo/Derek Smith)

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Ministry of Finance has finalized an agreement with the Inter-American Development Bank (IDB) to finance the technical cooperation component for the preparation of the policy and institutional framework for the development of small and medium sized enterprises (SMEs) in The Bahamas.

This agreement represents a financial contribution of $430,000 through Compete Caribbean which will be disbursed through the IDB, Zhivargo Laing, Minister of State in the Ministry of Finance, said March 21.

These funds will be used to contract and pay individual experts or consulting firms needed to help put in place a comprehensive new business support framework for SMEs.

Minister of State in the Ministry of Finance Zhivargo Laing (left) and IDB Bahamas representative Astrid Wynter exchange agreements on SME development. (Click picture to enlarge)

LAS VEGAS, March 21, 2012 /PRNewswire/ – Income Now Consulting (OTC Markets: INCN) (the “Company”), is pleased to announce that it has changed its name to ACM Corporation and declared an 18.66-for-1 forward stock split on its common stock, in the form of a dividend.

We are currently engaged in discussions with ACM Corporation, a Bahamas corporation (“ACM”), regarding a possible business combination involving the two companies.  At this stage, no definitive terms have been agreed to, and neither party is currently bound to proceed with any transaction.  With the permission of ACM, we have changed our name to facilitate these discussions.  If the parties determine not to proceed with a business combination, we will change our name back to Income Now Consulting or adopt another name.

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Prime Minister Hubert Ingraham is set to attend today’s opening of the Sandals Corporate University (SCU) in Ocho Rios, Jamaica.

The new school is the brainchild of the operators of luxury all-inclusive Sandals resorts, which cater to couples only. As well as in The Bahamas, Sandals has resorts in Jamaica, St Lucia and Antigua.

Sandals employs 1,200 Bahamians between its three facilities in The Bahamas: Balmoral in Nassau, Emerald Bay in Exuma and Fowl Cay in the Exuma Cays. The new training provided to Bahamians attending the institute is expected to further boost tourism service standards in The Bahamas.

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