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Newsletter Vol.13, No 6.

TBI monthly news in review - August 21, 2019

July got underway with a high-level delegation led by Prime Minister Dr Hubert Minnis travelling to St Lucia to attend the 40th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM).

On the sidelines of the meeting, the Prime Minister urged CARICOM to work closely with regional tourism organizations, such as the CTO, to enhance the visitor offering through better analysis of data.

“It is only through the use of empirical data that we will be able to effectively implement marketing and productive development strategies that will improve our tourism products and better the lives of our citizens,” he said following a meeting with Allen Chastanet, the Prime Minister of St Lucia and CARICOM chairman.

Other items on the CARICOM agenda included international blacklisting, the Small Island Developing States Resilience Foundation, and the Caribbean Single Market and Economy.

Back in The Bahamas, it was a busy month for the Central Bank as it published its Q1 review and celebrated its 45th anniversary. It was also announced that the bank would become the seventh broker-dealer member of The Bahamas International Securities Exchange (BISX).

Commenting on the membership, Central Bank Governor John Rolle said that “through the bank’s presence on the exchange, we wanted to ensure that there continued to be ample liquidity in the secondary market for government securities. Retail investors, particularly, must be able to complete trades without delays.”

In business news, there was a notable Bahamian success last month. Cloud Carib was named as one of the world’s premier managed service providers on the prestigious 12th-annual Channel Futures MSP 501 rankings. Coming in above all other providers in the Caribbean and Latin America, and #160 out of 501 managed service providers worldwide, The Bahamas owned and headquartered company said it was honoured to be selected.

 

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The Ministry of Tourism and Aviation recently held a Cruise and Maritime Seminar to encourage smaller businesses and entrepreneurs to take advantage of the growing number of cruise line visitors coming to The Bahamas. Watch a video about the event here.

The Central Bank of The Bahamas Governor John Rolle delivered remarks at the 2019 AML/CFT Risk Management Seminar of The Bahamas Group of Financial Services Regulators, 26 June, 2019. Read his full comments here.

Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson stated that while growth has been experienced over the past year, much more is expected.

The Insurance Commission of The Bahamas is celebrating its 10th year anniversary as an independent regulator.

Prime Minister Dr Hubert Minnis tabled the inaugural Annual Report of the Prime Minister’s Delivery Unit in the House of Assembly 19 June, during his contribution to the 2019/20 Budget debate.

Parliament passed Dr Hubert Minnis administration's 2019/20 Budget this week. Watch a ZNS News report here.

Prime Minister Dr Hubert Minnis has announced that $8 billion in international investments have been approved as of May 2019.

Director general of The Bahamas Ministry of Tourism and Aviation, Joy Jibrilu, led The Bahamas contingent at the recent Caribbean Tourism Organization Week 2019, in New York City.

The Cabinet Office has announced that the Governor General of the Commonwealth of The Bahamas, Dame Marguerite Pindling, will be stepping down 28 June 2019. She will be replaced by diplomat Cornelius Smith.

Aristo Development announced this week it has completed construction on the $30 million luxury residential Thirty Six development on Paradise Island with the first residents taking occupancy.

Brian Moree was sworn in as chief justice of the Commonwealth of The Bahamas by Cornelius Smith, deputy to the governor general, at Government House June 12, 2019.

Trade promotion group Caribbean Export recently supported a number of CARIFORUM businesses at the Jamaica International Exhibition, assisting small firms in targeting new markets and building brand awareness throughout the region and beyond.

The Bahamas continues to exhibit a level of tourism sector performance that has translated into positive economic growth for the country, Minister of Tourism and Aviation Dionisio D’Aguilar told Parliament last week.

The Cabinet Office has announced that Brian Moree will be the chief justice of the Commonwealth of The Bahamas with effect from 12 June 2019.

This weekend The Bahamas celebrates Randol Fawkes Labour Day on Friday June 7 and Whit Monday June 10. Have a great long weekend!

Minister of Financial Services, Trade & Industry and Immigration Brent Symonette, along with members of the Financial Services and Trade unit attended the 2019 Society of Trust and Estate Practitioners (STEP) Miami which was held in Miami, Florida 31 May, 2019.

The Central Bank of The Bahamas has entered into an official agreement with NZIA Ltd to design and implement a digital version of the Bahamian dollar.

The Financial Action Task Force’s flagship training course on global anti-money laundering and countering the financing of terrorism standards and implementing effective measures is being held in Nassau this week.

The Central Bank of The Bahamas has released its Quarterly Statistical Digest for Q1 2019. View or download the complete monetary, financial, fiscal and economic statistics through March here.

On June 17, 2019, Nassau Airport Development Co will begin an extensive, $200 million runway rehabilitation project at Lynden Pindling International Airport.

Related links

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