NEW YORK, Nov. 17/11 (BUSINESS WIRE) – Citi today announced it has been named World’s Best Internet Bank for 2011 by Global Finance magazine. Citi was the recipient of over 90 global, regional and country awards.

“Citi is thrilled to have earned this prestigious recognition by Global Finance,” said Naveed Sultan, Global Head of Treasury and Trade Solutions, Citi Global Transaction Services. “We believe this is a true validation of our industry-leadership position in Internet banking and demonstrates our strength as a global organization. Winning these awards is also a reflection of our steadfast commitment to providing our clients with the best technology platforms enabling them to succeed in today’s challenging business environment.”

Global Awards: Best Overall Internet Bank Best Corporate/Institutional Internet Bank Best Investment Management Services Best Online Cash Management Site Best Web Site Design Best in Mobile Banking Best in Social Media for Corporate/Institutional Banking Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.

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Furthering employees experience and education is a key step in delivering outstanding client services, which is why Julius Baer Bank & Trust (Bahamas) Ltd has facilitated the training of three of its employees in Switzerland.

The most recent participant in the cross-training exercise is Tiffany Jones, one of the bank’s junior relationship managers.

Jones is presently completing a two-month training programme in Zurich. She returns to The Bahamas in December.

“Although a significant portion of development within this industry comes from education and experience, a large part also comes from the cross-cultural, inter-relationships one builds along the way,” says Jones. “It is important to provide Bahamian private banking professionals with an international training opportunity.”

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NASSAU, Bahamas – The Bahamas Financial Services Board (BFSB) celebrated the 11th anniversary of its Industry Excellence Awards programme on November 11, at a gala dinner held at the Sheraton Nassau Beach Resort.

During the event, the recipients for the 2011 Mentor of the Year, Professional of the Year, Achiever of the Year, and Student of the Year were announced.

Also recognized at the awards ceremony were the recipients of the 2011 Lifetime Achievement Award, the Executive of the Year Award, and the Development and Promotion Award.

The 2011 award recipients are:

• Lifetime Achievement Award: Hugh G Sands, CMG
• Executive of the Year: Reece D Chipman, Bahamas Institute of Chartered Accountants
• Development & Promotion Award: Higgs & Johnson Law Firm
• Mentor of the Year: Dorothy Hilton, SG Hambros Bank & Trust
• Professional of the Year: Kenrick L Brathwaite, Commonwealth Bank Ltd
• Achiever of the Year: Alec F Rolle, BSI Overseas (Bahamas) Ltd
• Student of the Year: Mandelia K Morris, College of The Bahamas Graduate

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During his first trip to The Bahamas five years ago, JetBlue’s senior vice president of marketing and commercial strategy Marty St George said: “We intend to be the biggest US carrier to and from The Bahamas by the time we are done.”

JetBlue is already the largest carrier from the US to the Caribbean. In The Bahamas’ market alone, its airlift totals 28,000 seats per month. It has the potential to bring up to 336,000 visitors here annually.

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NASSAU, The Bahamas – The Bahamas officially bade farewell to United States Ambassador to The Bahamas Nicole Avant during a reception at the Balmoral Club on November 14.

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NASSAU, The Bahamas – The construction of the proposed Critical Care Block at the Princess Margaret Hospital represents the “single largest investment in healthcare infrastructure” at the public tertiary healthcare facility, according to Minister of Health Hubert Minnis.

Officials from the Public Hospitals Authority (on behalf of the government of The Bahamas) and Cavalier Construction, signed contracts for the construction of the Critical Care Block earlier in the month at the head offices of the Public Hospitals Authority.

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The $10 million authentic barbecue restaurant, Virgil’s, has opened for business at the Atlantis Paradise Island resort.

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After more than 30 years, the government will be able to discontinue the barging of water from Andros to New Providence beginning next month, Prime Minister Hubert Ingraham announced Friday in Eleuthera.

The prime minister’s announcement came as he commissioned water works for the Tarpum Bay and Rock Sound settlements.

The only islands of The Bahamas with sufficient ground water to meet the needs of growing communities are Abaco, Andros and Grand Bahama. This does not, however, extend to their cays.  

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Baha Mar marked its first, official milestone today with the opening and handover of a 1.25 mile realignment of West Bay Street.

The new road diverts traffic south of the Baha Mar resort around the 1,000 acre, $3.5-million development.  

An existing portion of West Bay Street will now be conveyed to Baha Mar by the government for the construction of its 1,000 room casino hotel, 700 room convention hotel, 100,000 sq ft casino and 150,000 sq ft convention centre and related amenities. 

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The Bahamas Tourist Office will attend the prestigious “invitation only” International Luxury Travel Market (ILTM) event to be held in the French resort of Cannes December 5-8.

The event, to be held at the Palais des Festivals et des Congrès, is the leading annual business-to-business event for the global luxury travel community.

Operating as an “invitation only” event, ILTM strictly selects the world’s most elite luxury travel buyers and sought after suppliers. The product showcase respresents the industry’s diversity, offering everything from remote destinations and unique travel experiences to boutique hotels and luxury transport.

David Johnson, Director General of the Bahamas Ministry of Tourism and Aviation, said: “Our first experience of ILTM in 2010 proved very positive and we are keen to build upon those, and new, relationships in 2012 and beyond to deliver the luxury traveller best suited to a large part of our Bahamian product.”