This is an excerpt from Tourism Today as it appeared on December 23, 2011. For updates or to read the current version of this post in its entirety, please click here.

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Ladies and Gentlemen:
I am especially grateful for the opportunity, along with my colleagues in Government, to play an instrumental role in the creation and reopening of the new Nassau Straw Market at the site where the previous market was destroyed by fire in 2001 when I was earlier in office.

With the official opening of the historic Straw Market, the transformation of Downtown and the City of Nassau is gathering pace.

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CALGARY, Aberta Dec. 22/11 (ACCESSWIRE-TNW via COMTEX) – Pennine Petroleum Corporation (PNN on TSX.V) (the “Company”) is pleased to announce it has entered into a letter of intent (“Letter of Intent”) dated December 16, 2011 with NPT Oil Corporation (“NPT”) in respect to the proposed acquisition by the Company of all data, deposits and license applications held by NPT or its subsidiaries on the Blake Plateau in the northern territorial waters of the Commonwealth of the Bahamas.

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This is an excerpt from Marketwatch as it appeared on December 23, 2011. For updates or to read the current version of this post in its entirety, please click here.

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Three employees at the Nassau Airport Development Co (NAD) walked away with accolades for their hard work and dedication as the company wraps up a busy year at the Lynden Pindling International Airport (LPIA).

The three employees for their outstanding contribution over the last year (left to right): NAD Employee of the Year 2011 – Gina Johnson, NAD Manager of the Year 2011 – Peter Tynes, and NAD Employee of the Year 2011 – Deandra Pinder.

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HAMILTON, Bermuda and NASSAU, Bahamas Dec. 21/11 (Businesslife.co): Butterfield Bank (Bahamas) Limited (“Butterfield”) today announced that Timothy J. Colclough has been appointed Vice President and Head of Trust and Fiduciary Services.

Mr. Colclough is returning to Butterfield, where he was previously Head of Business Development for over five years, after an absence of one year.

Originally from Jersey, Mr. Colclough has lived and worked in The Bahamas for more than 15 years. He has extensive experience in fiduciary services and a depth of knowledge of both local and international trust structures. He is a Chartered Company Secretary, holds an LL.B (Hons) law degree from the University of Buckingham, is a Member of the Society of Trust and Estate Practitioners and is an Individually Chartered Member of the Chartered Institute for Securities and Investment.

This is an excerpt from Businesslife.co as it appeared on December 22, 2011. For updates or to read the current version of this post in its entirety, please click here.

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THE Arawak Cay port will generate an extra $800 million in Bahamian gross domestic product (GDP), and more than 1,200 full-time jobs, over an initial 20-year period by freeing up 20 acres of prime Bay Street land for downtown Nassau’s redevelopment.

These projections, contained in the Economic Impact Statement produced for the Nassau Container Port project by KPMG Corporate Finance, described “the most significant impact” from the $83 million project as being the relocation of the container shipping industry from the heart of Nassau’s city centre.

The findings, disclosed in the report obtained by Tribune Business, came as the placement agents for the $10 million Arawak Port Development (APD) initial public offering (IPO) expressed great optimism that the offer will be “fully subscribed” well before its January 31, 2012, close.

The APD IPO is the first one to be held over the Christmas period. Previous offerings have traditionally avoided such timing, given that investor minds and disposable income, especially on the retail side, are traditionally deployed elsewhere, but Providence Advisors’ chief executive, Kenwood Kerr, said the IPO had already attracted great interest since its Friday launch.

“We’re very confident that the offer will be fully subscribed, notwithstanding the time of year,” Mr Kerr told Tribune Business yesterday.

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This is an excerpt from The Tribune as it appeared on December 21, 2011. For updates or to read the current version of this post in its entirety, please click here.

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Dec. 19/11 (NATARIO McKENZIE) THE ARAWAK CAY port is projecting to generate between $4.918 million to $5.761 million in operating income between 2013-2015, its chief executive saying it expected to enjoy a significant boost in container throughput volumes from the $2.6 billion Baha Mar project.

Unveiling the $10 million initial public offering (IPO) for the Nassau Container Port’s holding company, Arawak Port Development (APD) chief executive, Michael Maura Jr, said the company’s annual revenues could fluctuate between $25 and 27 million over the next three years.

Mr Maura said the Government, in the Memorandum of Understanding (MoU) signed with the 19 private sector shipping industry companies, had sought to strike a balance between investor returns and minimising shipping costs and associated tariffs for the Bahamian business community and general public. The MoU, he said, permits APD to earn an investment return rate of between 10 to 12 per cent.

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This is an excerpt from The Tribune as it appeared on December 20, 2011. For updates or to read the current version of this post in its entirety, please click here.

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SAN FRANCISCO, Dec. 15/11 – Wells Fargo & Company (NYSE: WFC) and EverKey Global Partners (EverKey) announced today that they have signed a definitive agreement for Wells Fargo to acquire EverKey, an investment boutique that offers global equity strategies to institutional clients.

EverKey Global Partners was established in December 2007 by Jeff Everett, formerly president and chief investment officer of Templeton Global Advisors Limited. In this role, Mr. Everett had responsibility for all portfolio management activities for all funds within the Templeton Global Equity Group, encompassing 35 portfolio managers and analysts. He served as lead portfolio manager of the $10 billionTempleton World Fund from 1995 to 2007, in addition to several other funds and accounts totaling approximately $35 billion in assets under management. The 11Zmember EverKey team has offices in the Bahamas and New York and manages global equity strategies for institutional clients in Japan and North America.

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This is an excerpt from Insurance News as it appeared on December 19, 2011. For updates or to read the current version of this post in its entirety, please click here.

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Dec. 15/11 – THE Bahamas Handbook 2012 is now in stores, offering readers fascinating and little known facts about the Bahamas, its people, culture, economy and history.

In its 626 pages, the handbook is filled with insightful features on the Bahamas, beautiful full colour photographs and rich illustrations that bring the stories to life.

The handbook reveals previously unknown details about the second world war, the general strike of 1958, and the first ever distribution of weapons in The Bahamas.

Readers can discover how German and Italian U-boats stalked and torpedoed Allied freighters in Bahamian waters during the second world war, trying to prevent them from carrying war materials to Britain, and how islanders of high and low station helped to rescue and care for the survivors.

Relive the anger and resentment that led to the General Strike of 1958 and how the Bahamian police force was issued with weapons for the first time in history – as seen through the eyes of a gazetted police officer of the day.

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This is an excerpt from The Tribune as it appeared on December 16, 2011. For updates or to read the current version of this post in its entirety, please click here.

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Dec. 16/11 – The Inter-American Development Bank (IDB) announced the approval of a US$50 million loan to The Bahamas to support an air transport reform program.

“The Bahamian economy is based on two pillars: tourism and international financial services, both of which are aviation intensive,” said IDB team leader Esteban Diez Roux. “The program will promote the development of safe and efficient air transport in the country following international standards. The air transport is crucial to ensure mobility and transport of goods, services and people in the country, as well as to integrate The Bahamas within the Caribbean region and also internationally.”

Air transport in The Bahamas is provided by 17 international airlines and 5 domestic ones. There are a total of 53 licensed airports in the country. A modern air transport sector needs to provide the greatest connectivity to global markets and invest in its facilities. A comprehensive reform of the existing institutional and regulatory structure will require the implementation of a new legal framework and arrangements for financing and infrastructure management.

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This is an excerpt from caribbeanpressreleases.com as it appeared on December 16, 2011. For updates or to read the current version of this post in its entirety, please click here.

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