The Bank of N.T. Butterfield & Son Limited has changed the name of its Nassau-based subsidiary from Butterfield Bank (Bahamas) Limited to Butterfield Trust (Bahamas) Limited to reinforce its commitment to offering trust and fiduciary services from The Bahamas to both local and international clients.

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This is an excerpt from Bernews as it appeared on December 3, 2012. For updates or to read the current version of this post in its entirety, please click here.

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NEW YORK–(BUSINESS WIRE) — Fitch Ratings affirms its ‘BBB-‘ rating on the Port of Palm Beach District’s (the district, or the port) approximately $38.2 million in outstanding revenue bonds. The Rating Outlook is revised to Stable from Negative.

The Outlook revision reflects stabilization of the port’s top operating lines and the expected sustainable recovery in the revenue base after considerable volatility in the most recent recession. In Fitch’s view, the projected revenue growth from increasing cruise activity in conjunction with minimum lease payments from newly signed and existing tenants will adequately support the financial obligations of the port going forward. In addition, adequate liquidity enhances the port’s overall financial flexibility and its ability to maintain debt service coverage at minimum coverage requirements.

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A 1.2-mile link between JFK Boulevard and Cable Beach opened November 30 in ceremonial fashion as vintage cars made the inaugural drive along its length as part of Bahamas Speed Week Revival 2012.

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Governor-General Sir Arthur Foulkes presented Alma Adams with her Instruments of Appointment as the first woman Ambassador of the Commonwealth of The Bahamas to the Republic of Cuba, during a ceremony at Government House November 29, 2012.

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Minister for Grand Bahama Michael Darville met with senior executives of DeVry International, the medical group that has taken over operations of Ross University on Grand Bahama November 29.

The Minister discussed expansion of the programme on Grand Bahama and immigration, among other things.

Speed Week participants gathered in Oakes Field on New Providence this morning, led by auto racing great Sir Stirling Moss and Lady Susie Moss. This year’s motoring extravaganza runs through December 2.

Building on the success of 2011 revival, this year’s program has been expanded to include a Gala Concert, Auto Trade Show, Miss Speed Week Pageant, Beach Party and complimentary flights for Out Island Excursions. Popular returning events include the dinner at Graycliff Hotel & Cigar Factory, boasting the third largest privately owned wine cellar in the world; and a 007 island tour and lunch at Lyford Cay Golf Club, the exclusive neighborhood of Sir Sean Connery.

Tickets to the events can be purchased individually at bahamasspeedweek.com.

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The Ministry of Financial Services is partnering with the Rotaract Club of East Nassau, the Bahamas Trade Commission and The College of The Bahamas Alumni Association to host a discussion on the World Trade Organization (WTO), December 6, 6pm, at The College of The Bahamas (COB).

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With fewer banks and other financial institutions issuing mortgages since the economic downturn, Balmoral Development Ltd has been providing access to in-house financing with less stringent requirements for real-estate investors to facilitate processing time.

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Rear Admiral Felix Alburerque-Compress of the Dominican Republic Navy (left) addresses the Opening Session of the Royal Bahamas Defence Force/Dominican Republic Navy Round Table Discussion held Tuesday at the Paul H. Farquharson Conference Centre. Sub-Lieutenant Glen McPhee of the National Intelligence Agency (Bahamas) served as interpreter. (BIS Photo/Patrick Hanna)

Following a meeting in the Dominican Republic at the end of October, the Dominican Republic and the Bahamas are holding a second round of bilateral talks on a range of issues including maritime security.

The lead issue was the problem of alleged illegal poaching by Dominican fishermen in Bahamian waters. National Security Minister Dr Bernard Nottage called the outcome of the talks “extremely important.”

“We cannot downplay the long-term effects of illegal poaching, as it can lead to a depletion of our country’s marine resources,” Nottage said. “The economic impact of indiscriminate poaching can touch the core of our livelihood. We must deal with it at all costs, as it is an aggravating situation that is becoming even more problematic to regulate, particularly with the advanced technologies that are being deployed.”

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This is an excerpt from Caribbean Journal as it appeared on November 28, 2012. For updates or to read the current version of this post in its entirety, please click here.

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Prime Minister Perry Christie highlighted The Bahamas’ openness to Caribbean nationals, as the Caribbean Association of Investment Promotion Agencies (CAIPA) annual general assembly conference got underway on November 27 at the British Colonial Hilton.

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