The Bahamas’ unemployment rate dipped slightly to 13.7 per cent, according to the 2011 Labour Force Survey results released today by the Department of Statistics.

The results are based on information obtained April 25 to May 1 this year. The survey previous to this was conducted in 2009.

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The Bahamian economy has fared well and is expected to grow despite recent global financial woes, according to the International Monetary Fund (IMF).

A delegation from the IMF visited The Bahamas in July to assess the country’s economic outlook and met with senior figures from the financial sector including Minister of State in the Ministry of Finance Zhivargo Laing and Central Bank Governor Wendy Craigg.

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The HNW Asset Allocator III report is the third in a series of semi-annual reports by Scorpio Partnership, the London-based wealth management consultancy firm. The research, which tracks asset allocation trends in the global wealth management industry, was conducted in partnership with LPEQ, the listed private equity association.

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The government unveiled its new $10.2 million online portal yesterday , which it says will streamline services and make doing business in The Bahamas more efficient.

“Today marks a very significant milestone in The Bahamas,” Prime Minister Hubert Ingraham told attendees at the website’s official launch, held at the Sheraton Hotel, Cable Beach.

“We are moving government services from the counter only to the computer screen also. This is a fundamental change that will have tremendous benefits for the entire country,” he continued. “Improved responsiveness is critical to building a more effective public service.”

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Vision Airlines has signed an agreement with the Grand Bahama Island Tourism Board to begin service to the northern Bahamas island beginning November 3, 2011.

The flights will originate from Ft Lauderdale, FL, Louisville, KY, Richmond, VA, Raleigh/Durham, NC and Baltimore/Washington airports. The new fares will start from $39 each-way from Ft Lauderdale and as low as $99 each way from the other cities, with certain restrictions.

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Grand Bahama’s struggling economy is to receive a shot in the arm later this year, as it plays host to the Fort Lauderdale International Film Festival (FLIFF) in October.

FLIFF On-location: Grand Bahama Island takes place October 27-30, and tourism officials are hoping the event will encourage investors in the film industry to use the island as a location for future projects.

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The Bahamas should focus on developing medical schools and research centres in order to capitalize on lucrative opportunities in medical tourism, according to a leading local doctor.

Eye surgeon Dr John Rodgers, who has been involved in medical tourism for over 20 years, says The Bahamas needs to start following the lead of other countries in the Caribbean that are benefitting from an influx of medical students from abroad.

“Medical schools in the Caribbean are at the forefront of medical tourism,” he says. “Schools are oversubscribed in the US, so there is an overflow from the States to the Caribbean. There are these avenues open to us that we are not taking advantage of.”

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Enhancing membership benefits is a top priority for the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), according to the newly elected president–chief executive officer of TPM (Technology, Process and Management) Consulting and managing director of Bahamas Technology Solutions Ltd Winston Rolle.

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The Department of Statistics has released its May 2011 Consumer Price Index (CPI) and inflation rate.

The All Bahamas All Items index stood at 104.1. The pace of consumer price changes increased to 3.5 per cent.

The New Providence All Items Index stood at 104.0 with the rate of inflation rising to 3.8 per cent.

The Grand Bahama All Items Index stood at 103.9 with the rate of inflation standing at 2.0 per cent.

The Abaco All Item’s Index stood at 104.8 with the rate of inflation standing at 4.0 per cent.

Download the full data in Excel™ format here. View the data in html format here.

At the end of last month, Capgemini and Merrill Lynch Global Wealth Management released the 2011 World Wealth Report.

The study covers the key trends that affect high-net-worth individuals (HNWIs) throughout the world.

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