NASSAU, Bahamas (Associated Press) — A new international terminal has opened at the largest airport in the Bahamas as part of a $409 million project.

The 226,000-square-foot terminal at Nassau’s Lynden Pindling International Airport opened Tuesday.

A new U.S. departures terminal opened in March 2011, while a new domestic and international departures terminal and a domestic arrivals terminal is scheduled to open in late 2013.

…continue >

NASSAU, Bahamas (Associated Press) — Bahamian Prime Minister Perry Christie’s party added to its big parliamentary majority by easily winning a byelection in his former rival’s district.

Election officials said Tuesday that preliminary results show that Renardo Curry of Christie’s Progressive Liberal Party dominated the contest on Abaco island.

…continue >

Chief executive officer of the Bahamas Financial Services Board (BFSB) Aliya Allen has spoken out against the negative portrayal of offshore financial centres, saying the economic downturn unfairly stigmatized international financial centres (IFCs) such as The Bahamas.

“We are seeing a sustained effort to eradicate tax competition,” she said. “The financial crisis was a big game changer.”

…continue >

With financial services providers in The Bahamas eyeing Latin America as a lucrative new market, industry leaders have spoken of the challenges practitioners may face when targeting the diverse region.

At the Nassau Conference, held at the British Colonial Hilton last week, a panel of leading industry experts told the audience that business was booming in the region, but heavy regulation would keep compliance officers on their toes.

…continue >

Chief executive officer of Malaysia’s Genting Energy Group Tiong Soon Ong says that The Bahamas may have oil reserves that could be tapped. Watch an interview with Ong here.
…continue >

Knoxville-based Aqua-Chem Inc. has inked a contract to build its fourth and largest water purification plant for the Turks and Caicos Islands in the British West Indies.

David Gensterblum, Aqua-Chem president and CEO, would not discuss the value of the contract, but said “this is a substantial revenue increase for us.”

The contract may also result in some extra hiring at the company’s locations in Forks of the River Industrial Park in Knox County and at a facility in Florida. Assembly of equipment for the plant will take place at both locations.

…continue with our excerpt >

This is an excerpt from Knoxville News Sentinel as it appeared on October 15, 2012. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >

Commonwealth Bank officials presented Junior Achievement Bahamas with a $100k cheque during an event marking the establishment of the Junior Investment Fund. Watch a ZNS news report here.
…continue >

Minister of Financial Services Ryan Pinder has said that accession to the World Trade Organization will bring employment, investment and increased trade to The Bahamas. Watch an address by Pinder here.
…continue >

A leading industry expert has warned that the global trend towards increased regulation is affecting even strong emerging economies, such as those in Latin America.

Director of Credit Suisse Ltd Francesco Vanacore told members of the financial community that countries all over the world are facing an increasing regulatory burden and Latin America is no different.

…continue >

NASSAU, Bahamas – The Bahamas government is trying to develop a partnership with Brazil to build an ethanol plant on Grand Bahama, which could result in the creation of as many as 4,000 jobs, Minister of Financial Services Ryan Pinder revealed on Monday.

“We spoke to one of the largest ethanol producers in Brazil and they have such a high consumption of ethanol they have to look for export markets. They need to look in other jurisdictions. I propose again, Grand Bahama, because of the container port that’s there, and the closeness to Andros – you may be able to utilize the sugar cane. Now their estimates were 3,000 to 4,000 jobs that can come out of that one initiative,” Pinder told reporters on the sidelines of the Trade in Services Workshop on Monday morning.

…continue with our excerpt >

This is an excerpt from Curacao Chronicle as it appeared on October 11, 2012. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >