The Bahamas Investor

...ties. Securities Commission of the Bahamas chair person Tonya Galanis (left), and BFSB chairman Paul Winder at a press conference January 10. MInister of State for Finance Michael Halkitis is pictured in the background. (Photo©Dupuch Publications/Tosheena Robinson-Blair) tblair@dupuch.com......

...ning the creation of hundreds more jobs. The Minister for Grand Bahama, Dr Michael Darville, along with a Grand Bahama Port Authority (GBPA) team, got a first-hand glimpse of construction projects underway at both venues during recent site inspections. Demolition work at the Reef Village is nearing completion, with finishing work set to begin on 500 rooms that will comprise the five-star resort set to be leased by Sunwing under the Memories brand.......

...nancial Stability in the Caribbean”. Minister of State for Finance Michael Halkitis brought the keynote address at the conference’s opening ceremony. Halkitis emphasized the jurisdiction’s commitment to compliance with international regulatory standards, particularly with respect to fostering a transparent financial services sector. Specifically, he cited agreements such as the International Organisation of Securities Commission’s Multilateral Mem......

...1 per cent. In opening the briefing, Minister of State for Finance Michael Halkitis said the sector’s expansion has had a positive impact on overall employment in the financial services sector. “The growth in activity in the securities and investment funds sectors has, to some extent, offset the adverse impact on employment in the financial services sector resulting from the downsizing of other financial institutions, due to the outsourcing of ope......

...irst of all, receive the data,” said Minister of State for Finance Michael Halkitis, who has oversight for that unit. “Adequate enforcement mechanisms, such as fines and penalties, will be implemented to deter and penalize reporting financial institutions and, if appropriate, account holders in respect of non-compliance with the Act and the Common Reporting Standard.” Halkitis acknowledged the new global standard models the United States’ Foreign......

...a difficult financial climate, said Minister of State for Finance Michael Halkitis last week, as he pledged to remove barriers to doing business in The Bahamas and stabilise the economy. “We find ourselves at a very, very important crossroads in our development. There are fundamental changes going on internationally and in The Bahamas,” he said referring to the economic slowdown caused by the recent global recession. Addressing a Bahamas Institut......

...s product here in The Bahamas,” said Minister of State for Finance Michael Halkitis during his opening address this morning. The Bahamas continues to create a financial services jurisdiction that’s comparable to alternatives offered elsewhere in the developed world, he said. However, new laws and practices emanating from the US and other leading players in the financial arena continue to adversely impact this offshore centre. “It has been critical......

...ntis Paradise Island. Minister of State in the Ministry of Finance Michael Halkitis announced at a press briefing September 12 that the high level forum will allow Ministers of Finance and Central Bank governors and other officials from throughout the Caribbean to discuss ways that they can work together with international financial institutions to address pressing economic and financial matters, which confront the region. In attendance at the bri......

...tax reform programme, Minister of State in the Ministry of Finance Michael Halkitis today assured the financial community that the new regime will “meet the increasingly complex financial needs of our nation [and] underpin enhanced economic growth prospects for the future.” Speaking at today’s Money Laundering Reporting Officer (MLRO) Day, the Minister said the government was currently working on draft legislation to implement the new regime, and......

...integral to economic growth in the region. Opening the conference, Michael Halkitis, Bahamas minister of state for finance, said: “Public sector spending comprises a significant proportion of Caribbean gross domestic product. Given the sums involved, it’s vital that we get our houses in order.” Halkitis added. “Enhanced public financial budgeting, accounting and reporting, based on accrual accounting, will enable us to shine a light in every corne......

...apital through exchange controls; expanding job creation through industry diversification; a 2012 forecast of the economy; and the government’s ability to raise funding. Panelists include: Zhivargo Laing, Minister of State for Finance; Wendy Craigg, Governor Central Bank of The Bahamas; Michael Halkitis, consultant, Financial Services & Investments of BAF; Olivia Saunders, professor at COB; and Anthony Ferguson, president CFAL and the Guardian Med......

...rts to Florida within two months. At the event, State Minister for Finance Michael Halkitis congratulated the Sands family on its continued success. “This investment that you see here being unveiled today is a manifestation of not only the pioneering spirit, courage, belief, vision of Jimmy Sands, but also a belief in the Bahamian economy, belief in Bahamians, and belief in what we can do.” Click here for the current newsletter. To subscribe to th......

...chnologies (GB) Ltd August 9, accompanied by the Minister for Grand Bahama Michael Darville and some of his officers. Pictured (left to right): Pietro Stefanutti, president, PharmaChem Technologies; Minister Darville; Minister Pinder; Randy Thompson, chief executive officer at PharmaChem; Viana L Gardiner, director of trade and industry; and Harrison Thompson, permanent secretary, Financial Services. (BIS Photo/Vandyke Hepburn) Pinder and Darville......

...Forbes Charter Services; Ian Fair, chairman, Grand Bahama Port Authority; Michael Darville, Minister for Grand Bahama; Godfrey Smith, CEO Hutchinson Bahamas; Albert Gray, consultant, Ministry for Grand Bahama; Melvin Seymour, PS, Ministry for Grand Bahama; Sherry Rodgers-Brookes, PA/corporate, Hutchinson Bahamas; and Derek Newbold, business development manager, GBPA. (Photo courtesy of the Ministry for Grand Bahama) Pictured: (left to right) Meli......

...he Illinois House of Representatives April 16, 2013: Speaker of the House, Michael Madigan and your staff, Chair of the Illinois Legislative Black Caucus – Representative William Davis and other Members of the Illinois House of Representatives, Ladies and Gentleman. I wish, at the outset, to thank you for your invitation to address this august body and for your warm hospitality during my stay in this charming and historic city of Springfield. This......