The Bahamas Investor

...increase proportionately with an increase in the volume of water sold. The services segment recorded a gross profit of approximately $0.5 million for the year ended December 31, 2011, compared with a gross profit of approximately $0.7 million in 2010. The lower gross profit for 2011 in the services segment stems primarily from the decrease in revenues discussed above. General and administrative expenses increased 21% to $13,651,650 in 2011, versus......

...e holiday and spring break season upon us, Odyssey’s expansion of handling services on the island of Eleuthera come at the perfect time. “Holiday traffic can create significant chaos for small islands,” said Kelly. “Flight departments, more than ever, desire good service and trusted representation for their passengers on arrival. Through its handling services, Odyssey Aviation Governor’s Harbour (MYEM) and Odyssey Aviation Rock Sound (MYER) bring......

...hted to be recognized as one of the airports that works hard to obtain the services of airline customers and we look forward to continuing this success and building on our existing relationships to bring more air services to Dallas/Fort Worth International. The arrival of new operators such as Emirates Airline and Qantas will help us position ourselves as a worldwide gateway.” This is Dallas/Fort Worth International’s second success in the Routes......

...ember After two months of searching, the board of directors of the Bahamas Financial Services Board (BFSB) named Aliya Allen as the new chief executive officer and executive director, effective January 1, 2012. This month was also designated as Caribbean Tourism Month and an awareness campaign was run throughout the region. As visitors enjoyed the sunny high season, behind the scenes things were moving apace in the tourism sector. Baha Mar marked......

...endy Warren, chief executive officer and executive director of the Bahamas Financial Services Board (BFSB) would be stepping down at the end of the year. A key member of the financial services sector, Warren has been at the forefront of the industry in the jurisdiction for more than a decade. The Bahamas was strongly represented on the international stage in September, with Prime Minister Hubert Ingraham, in his capacity as chairman of the World B......

...and local managing director at BACO) designations. “Being qualified in the financial services industry is somewhat challenging, as one constantly has to stay on top of the changing environment,” says Russell. Discovering a passion for trust management, Russell’s career saw her take roles at several top international companies, including renowned institutions such as Chase Manhattan Trust, and Mossack Fonseca, culminating with her engagement at Cre......

...ol of good bilateral relations. June also saw one of the key events in the financial services industry calendar, with delegates from all segments of the sector attending the Nassau Conference. The event’s agenda included addresses on topics as wide ranging as doing business in Latin America, financial opportunities in the maritime industry and the practicalities of using SMART Funds within trusts and corporate structures. …continue “2011 Year in r......

...The future of Bahamian trusts Despite the ongoing challenges faced by the financial services sector, The Bahamas is well on its way to maintaining its competitive edge as a premier offshore trust jurisdiction. The Bahamas has so much to offer, not only through the singular use of trusts, but also through combining the trust with other structures available as part of the suite of financial services tools offered in the jurisdiction. As settlors’ n......

...part of these efforts, the Office of the Attorney General will bring three services online in December: incorporation of companies; the immediate issue of certificates of good standing; and issue of notary public certificates. Maynard-Gibson indicated that several other services will also be moved online next year. Delivering the opening speech at the CIArb seminar, held at the British Colonial Hilton , the attorney general said that the governmen......

...the private sector to improve and expand our infrastructure, the level of services offered and the number of opportunities created. “This means, in my view, the expansion and formalization of the PPP concept. The basic aim of creating PPPs is to allow the public sector to employ private-sector capital and management expertise in the delivery of public services,” he said. The government efforts to provide the necessary resources to meet public sec......

...esponsible for the management of Family Island airports, security and fire services. The Bahamas’ air transport sector reform initiative is already yielding results by building human, technological and infrastructural capacity within the sector. An Independent Aircraft Accident Incident Investigation Unit has been established. A new radar system was purchased and a new approach control centre constructed, from which radar controllers will operate.......

...itional 60 in 2018 Added a record number of new clients, including leading financial services organizations and governments in the region Introduced Carib365, which allows Cloud Carib to keep client data in the Caribbean region – outside the US and Europe – thereby ensuring data privacy Announced service extensions into Panama, Barbados and Jamaica, and additional regional sites planned for Trinidad and Tobago, the Cayman Islands, and other Centra......

...and their technical teams, especially the Ministry of Finance, Ministry of Financial Services, Trade and Industry & Immigration and the Office of Attorney General & Legal Affairs, who worked along with the Bahamas Financial Services Board (BFSB ) and the Association of International Banks and Trust Companies (AIBT ) and other financial services industry partners, forming a high level technical working group dedicated to addressing this issue and t......

...e continuously and always strive to be the best in everything we do in the financial services industry. Ultimately, that is what will always be chosen by clients. They will go to those who can provide what they require, when they require it.” Developing talent The industry is only as good as its professionals, but Mortemore believes The Bahamas has nothing to worry about in this respect. She is bullish on the future of the sector and says it will......

...s members, there are a number of realtors who are expanding into concierge services to help guide investors through all stages of their relocation. “I think the market for these kinds of services is growing,” says Wallace-Whitfield. “Companies are branching out and I’m sure it will continue to grow as this is a service industry. It is all about making sure your clients are well looked after.” To some extent, a client’s needs are dependent on the t......