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The Department of Statistics of The Bahamas has released the results of its Labour Force and Household Income Survey, which was conducted in November of last year.

The survey provides information on the labour force as it existed during the reference period of October 24-30, 2011.

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Indications are that the domestic economy maintained a positive, although mild, growth momentum, during the month of December, according to the Central Bank of the Bahamas‘ Monthly Economic and Financial Developments report.

More favourable foreign investment activity, alongside ongoing public sector infrastructure projects, buoyed construction output and the tourism sector benefitted from stronger seasonal hotel earnings.

The central government’s overall deficit contracted over the first five months of FY2011/12, occasioned by an increase in revenues and a marginal decline in expenditures. In the monetary sector, liquidity and external reserves rose modestly, supported by net foreign currency inflows arising partly from foreign investment and government’s financing activities.

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Samantha Watson, vice president and chief financial officer at Foyil Asset Management, Sharon LaFleur, Jr relationship officer at Julius Baer Bank & Trust (Bahamas) Ltd, and Philippa Willie, operations product specialist at UBS Trustees (Bahamas) Ltd, have been selected as Bahamas Brand Ambassadors for 2012 by the Bahamas Financial Services Board (BFSB).

The trio of Bahamas Brand Ambassadors will be the faces of the industry in The Bahamas to promote a cohesive message of The Bahamas Advantage, the branding theme for the country’s financial services industry.

They will be involved in a broad range of communications programmes coordinated by BFSB to promote The Bahamas Advantage branding.

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Marsh Harbour, Abaco — With proposed revisions to the Financial Action Task Force, Anti-Money Laundering (FATF/AML) regime, small international financial jurisdictions (SIFJs) must be able to anticipate, influence and be ready to implement recommended changes, an international expert told local wealth managers attending a financial summit.

“Anticipating and influencing recommendation changes is important, because some of the changes may require new legislation and regulations,” said Bruce Zagaris, a partner with Berliner, Corcoran & Rowe.

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The market is rife with opportunities for savvy traders despite the financial downturn, according to economic expert Mark Skousen.

Skousen, who founded the Global Financial Summit, which took place at Atlantis Paradise Island last week, said traders could strengthen their porfolios through targetted investments in growing sectors.

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Senator John Delaney issued the Attorney-General’s Report 2011 on Wednesday this week.

The report includes a review of 2011, including enacted legislation, and also outlines the “Future Focus” for the Office of the Attorney-General (OAG).

“Our mission at the office of the Attorney-General is to promote justice in the commonwealth of The Bahamas through the delivery of comprehensive and efficient legal services to the government,” says Delaney in the introduction.

“During 2011, progress continued over several areas of the Attorney-General’s portfolio. By this annual report I share with you highlights of that progress, as well as developments occurring elsewhere in the justice system. The report concludes with the direction that has been set for 2012.”

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Marsh Harbour, Abaco – Leaders and strategists in financial services, government officials, key regulators and other industry stakeholders gathered in Abaco today to engage in mostly closed-door sessions to discuss issues concerning the sector in The Bahamas.

The annual two-day strategic planning and idea sharing conference helps to chart the way forward for the financial services sector, the country’s second largest industry.

Now in its ninth year, the International Business and Finance Summit is the Bahamas Financial Services Board’s (BFSB’s) marquee event attracting global financial services leaders as presenters.

Among the topics discussed were opportunities and challenges facing the industry.

According to Minister of State in the Ministry of Finance Zhivargo Laing the industry’s buzzword over the next few years must be “efficiency.”

“We have to have greater output,” he said. “The world we are in is extraordinarily sophisticated and demanding and will not settle for mediocrity.”

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Latin American countries have the potential to significantly contribute to the wealth of emerging markets, according to president and chief executive officer of the Mexico Business Forum Roberto Salinas.

Speaking at the Global Financial Summit, being held at Atlantis Paradise Island this week, Salinas said both Chile and Colombia were “rising superstars” in terms of productive investment and that Mexico was also set for growth with a rising middle class.

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