Hours after being elected to the North Abaco constituency for an eighth time, Hubert Ingraham resigns as that area’s MP and as leader of the Free National Movement. These announcements came while conceding defeat to the Progressive Liberal Party following the May 7, 2012, general elections. Watch a ZNS news broadcast of his address here.

Prime Minister-elect Perry Christie celebrates with Progressive Liberal Party (PLP) supporters on the night his party wins the general election by a landslide. Watch a ZNS news broadcast of his victory speech here.

Pictured are some of the fish vendors tending their wares at the upgraded Montagu foreshore. The vendors are benefitting from the Montagu Foreshore Redevelopment Project, a partnership between the Bahamas government and Kerzner International which includes a paved parking area, a boat ramp, vending stalls, public parking and trailer spaces along with restroom facilities. (BIS Photo/Letisha Henderson)

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Incumbent Prime Minister, Hubert Ingraham, addressed the nation last night on the eve of the election. Watch the address here.

The new Arawak Port Development Company last week officially opened its doors for business, marking the beginning of a new era for commercial shipping in and freight handling in The Bahamas, according to a local television broadcaster. Watch a ZNS news report of the event here.

NASSAU, Bahamas, March 8, 2012 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE:BPL) today reported net income attributable to Buckeye’s unitholders for the first quarter of 2012 of $52.0 million, or $0.54 per diluted unit, compared to net income attributable to Buckeye’s unitholders for the first quarter of 2011 of $66.5 million, or $0.79 per diluted unit. Buckeye’s Adjusted EBITDA (as defined below) for the first quarter of 2012 was $115.0 million compared with Adjusted EBITDA of $122.2 million for the first quarter of 2011. Operating income for the first quarter of 2012 was $80.4 million compared to $92.6 million for the first quarter of 2011. Buckeye also incurred $3.7 million in transition expenses during the first quarter of 2012 related to acquisition and integration activities. This compares to $1.8 million in transition expenses incurred during the first quarter of 2011.

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The official opening of Arawak Port Development (APD) Ltd marked “a red-letter day” in terms of the ongoing development of a new port of Nassau, according to Prime Minister Hubert Ingraham.

Cutting the ribbon to officially open the new Nassau Container Port at Arawak Cay are left to right: Michael Maura Jr, chief executive officer Arawak Port Development; Betty Mackey, widow of the late George Mackey; Godfrey “Tippy” Lightbourne; Prime Minister Hubert Ingraham; and James Mosko. (BIS Photo/Peter Ramsay)

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The government of The Bahamas on April 27 executed a contract totalling $2.3 million for the construction of a modern Fish Fry and Cultural Centre at Eight Mile Rock, Grand Bahama.

Minister for Public Works, Transport and Housing Neko C Grant is pictured centre, along with contractor Max Quant of Noula Investment at Eight Mile Rock, Grand Bahama, on April 27. (BIS Photo / Simon Lewis)

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Statement by the government of The Bahamas on the sale of Atlantis Paradise Island:

Kerzner International Holdings Ltd has successfully completed its comprehensive global restructuring process, affecting both its assets here in The Bahamas, as well as elsewhere in the world.

This process has resulted in substantially all of its Paradise Island assets, including the Atlantis Resorts & Casino and the One & Only Ocean Club, being transferred to Brookfield Asset Management Inc, in exchange for Kerzner being released from approximately $175 million debt owed to Brookfield.

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APD Limited (the “Company”) wishes to advise its shareholders and the public that all shareholders in the Company, including its founding shareholders and the Government of The Bahamas, have the same right to dividends on each share in the Company that they own and will receive the same returns per share held in the Company. The shares that were recently issued by the company by way of the Initial Public Offering which was approved by the Securities Commission of the Bahamas and were sold at a price of $10.00 per share, which is the same price paid by the Government of The Bahamas and the founding shareholders for their shares. All shares held by the Government of The Bahamas, the founding shareholders and the 11,065 new Bahamian shareholders will earn the same return per share on every dollar invested.

This is an excerpt from thebahamasweekly.com as it appeared on May 4, 2012. For updates or to read the current version of this post in its entirety, please click here.

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