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News & Press - Dec 11/19

 

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Society of Trust and Estate Practitioners Bahamas Branch members paid a courtesy call on Minister of Financial Services, Trade & Industry and Immigration Elsworth Johnson at the Ministry October 31, 2019. 

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TheBahamasInvestor.com
Monday, November 4, 2019
Monday, November 4, 2019

Society of Trust and Estate Practitioners (STEP) Bahamas Branch members paid a courtesy call on Minister of Financial Services, Trade & Industry and Immigration Elsworth Johnson at the Ministry October 31, 2019.

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The Caribbean Tourism Organization has said that festivals are key element in the region's tourism offering as it celebrates Caribbean Tourism Month. 

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TheBahamasInvestor.com
Monday, November 4, 2019
Monday, November 4, 2019

CTOThe Caribbean Tourism Organization (CTO) has said that festivals are key element in the region’s tourism offering as it celebrates Caribbean Tourism Month.

In a statement the CTO said: “As we continue to observe 2019 as the Caribbean Year of Festivals, we celebrate both the unique distinctions of our region and the many features that bind us together. The unique rhythm and tempo of each CTO destination is reflected best in the music, art, sailing, lights, food, rum, religious, literary, dance and the many other festivals celebrated throughout the region. Unquestionably, there is a festival to commemorate each element of the cultures and heritages which personify the region.”

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The Bahamas' financial services sector hopes to make inroads into the Middle Eastern market with a series of events this month - all of which will lay the groundwork for the country's presence at the Dubai Expo 2020. 

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TheBahamasInvestor.com
Friday, November 1, 2019
Friday, November 1, 2019

FS industry gears up for Expo 2020

Pictured: The Bahamas Pavilion, designed by The team from the University of The Bahamas. (Bahamas’ Ambassador to the UAE and the State of Qatar/Tony Joudi)

The Bahamas’ financial services sector hopes to make inroads into the Middle Eastern market with a series of events this month – all of which will lay the groundwork for the country’s presence at the Dubai Expo 2020.

The Bahamas Financial Services Board (BFSB) will host a Bahamas Landfall event in Dubai on 18 November, in addition to sponsoring STEP Arabia, as stakeholders assess interest in this new market.

“It is a promotional tour to size up the potential appetite and interest that those players have in The Bahamas,” says Patrick Feuz, executive chairman of Gonet Bank & Trust Ltd which will be attending the events. “It will be a crucial to see what the outcome is from this tour. That will lay the foundation for what the BFSB and the Ministry of Financial Services want to do in Dubai.”

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Prime Minister Dr Hubert Minnis accepted a $100,000 donation from Aliv to help fund The Bahamas’ participation in Dubai Expo 2020, during a check presentation at the Office of the Prime Minister October 28. 

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TheBahamasInvestor.com
Thursday, October 31, 2019
Thursday, October 31, 2019

AlivPrime Minister Dr Hubert Minnis accepted a $100,000 donation from telecommunications firm Aliv to help fund The Bahamas’ participation in Dubai Expo 2020, during a check presentation at the Office of the Prime Minister October 28.

The funds will go toward the development of The Bahamas Pavilion that will showcase the resilience of The Bahamas in the wake of Hurricane Dorian and what the country has to offer to the global community, including investment opportunities, skills and culture.

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Government looks to revise fiscal estimates after Dorian – PDF

The fiscal deficit continued to improve during the first quarter of the fiscal year, based on preliminary estimates in the latest budget performance report. The government has plans to revise its fiscal estimates moving forward following Hurricane Dorian. 

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TheBahamasInvestor.com
Thursday, October 31, 2019
Thursday, October 31, 2019

The fiscal deficit continued to improve during the first quarter (Q1) of the fiscal year, based on preliminary estimates in the latest budget performance report. The government has plans to revise its fiscal estimates moving forward following Hurricane Dorian.

“It is important that we saw a strong performance in the first quarter notwithstanding the impact of Hurricane Dorian. The added strain we are now under due to these extraordinary circumstances would be exponentially worse if we had not taken deliberate action to get our fiscal house in order and responsibly manage the country’s fiscal affairs,” said Peter Turnquest, Deputy Prime Minister and Minister of Finance.

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Finance Ministry looks to improve ease of doing business

While The Bahamas fell in the World Bank’s Ease of Doing Business Rating by one point in 2019, the Ministry of Finance says it is satisfied with advancements in key areas. 

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TheBahamasInvestor.com
Wednesday, October 30, 2019
Wednesday, October 30, 2019

While The Bahamas fell in the World Bank’s Ease of Doing Business Rating by one point in 2019, the Ministry of Finance says it is satisfied with advancements in key areas.

The Ministry of Finance has said that there has been marked improvement in the global ease of doing business rankings in the five focal areas of the Ease of Doing Business Committee: Starting a business; dealing with construction permits; getting electricity; enforcing contracts and protecting minority rights, which registered the greatest improvement of 44 points.

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BDB looks to expand services

The Bahamas Development Bank is undergoing a transformation to expand its products and services to incubate emerging or struggling industries to expand the economy and create more opportunities. 

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TheBahamasInvestor.com
Tuesday, October 29, 2019
Tuesday, October 29, 2019

The Bahamas Development Bank (BDB) is undergoing a transformation through which it intends to expand its products and services.

The bank is making efforts to incubate emerging or struggling industries to expand the economy, create more opportunities and ensure that natural resources will continue to provide for future generations, managing director Dave Smith said in his address at the annual Exuma Business Outlook conference.

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BFSB hosts briefings in Brazil

The Bahamas Financial Services Board in collaboration with the Ministry of Financial Services hosted two successful briefings in Rio De Janeiro and Sao Paulo, Brazil on October 14-17. 

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Bahamas Financial Services Board
Monday, October 28, 2019
Monday, October 28, 2019

The Bahamas Financial Services Board in collaboration with the Ministry of Financial Services hosted two successful briefings in Rio De Janeiro and Sao Paulo, Brazil on October 14th and 17th.

The Hon. Elsworth Johnson, Minister of Financial Services, Trade & Industry and Immigration addressed attendees and reaffirmed that The Bahamas is open for business and that we value the long standing relationship built with service providers in Latin America and Brazil in particular.

This is an excerpt from Bahamas Financial Services Board as it appeared on October 28, 2019. For updates or to read the current version of this post in its entirety, please click here.

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Central Bank Governor addresses Exuma Business Outlook – PDF

The Central Bank of The Bahamas Governor John Rolle delivered remarks at the Exuma Business Outlook on the topic of "Bahamian financial resilience post-natural disasters" at Sandals Resort, Exuma, yesterday. Read his full address here. (BIS Photo/TBI News stock)

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TheBahamasInvestor.com
Friday, October 25, 2019
Friday, October 25, 2019

The Central Bank of The Bahamas Governor John Rolle delivered remarks at the Exuma Business Outlook on the topic of “Bahamian financial resilience post-natural disasters” at Sandals Emerald Bay, Exuma, October 24, 2019.

Read or download the PDF from the Governor’s address entitled Bahamian Financial Resilience Post-Natural Disasters here.

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MOTA releases update on state of tourism

More than a month has passed since Hurricane Dorian made landfall on two northern islands of The Bahamas. Grand Bahama Island is rebounding with many of its hotels and attractions reopened, while The Abacos face a longer road to recovery. Read an update from the Ministry of Tourism and Aviation here. (MOTA Photo/TBI News stock)

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Ministry of Tourism
Friday, October 25, 2019
Friday, October 25, 2019

Bahamas MOTNASSAU, Bahamas, October 2019 /PRNewswire/ — More than a month has passed since Hurricane Dorian made landfall on two northern islands of The Bahamas. Already, Grand Bahama Island is rebounding with many of its hotels and attractions reopened and plans for its airport to resume international service soon.

While The Abacos face a longer road to recovery, the country remains resilient and steadfast in its commitment to help the island rebuild by maintaining a healthy flow of tourism – which accounts for half of the country’s GDP – to the islands that were not affected by the storm.

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