The Bahamas Electricity Corp (BEC) has called for Bahamian engineers to lend their skills to the drive towards more renewable energy sources.

Addressing the Bahamas Society of Engineers at their 2010 Conference earlier this month, BEC general manager Kevin Basden appealed to Bahamian engineers saying: “This is a brand new field. It will open up some opportunities for engineers and entrepreneurs.”

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Two major projects in the heart of downtown Nassau on New Providence are on, or ahead of, schedule, according to the chief of a leading construction company involved in the developments.

“Both major projects that we are involved in downtown are progressing very well,” says Richard Wilson, managing director at Cavalier Construction, referring to the new straw market building on Bay Street and the Elizabeth on Bay leisure and retail plaza on the waterfront.

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Nassau Airport Development Co (NAD)?has received finances to kick-start Phase II of the Lynden Pindling International Airport’s redevelopment project, with a $165 million injection into its bank account last month.

The money was deposited on November 30, allowing NAD to settle debts incurred during Phase I and replenish its revolving credit facility, as it carries out the $410 million airport expansion programme.

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The new issue of The Bahamas Investor, now in its fifth year, to be published January 1, 2011, focuses on the local, home-grown talent that is having an impact on the financial services industry in The Bahamas.

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New product legislation, a robust economy and a surge of spectacular new developments are securing The Bahamas’ pole position as a haven for international investment. Acclaimed as the top international financial centre in the Americas just one year ago, The Bahamas has continued to grow its economy and draw new business throughout 2009, and you can read about the reasons behind this and the many investment opportunities available in the latest issue of The Bahamas Investor (www.thebahamasinvestor.com).

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Speaking during the recent Accountants’ Week 2010, Grand Bahama Chamber of Commerce president Peter Turnquest highlighted some of the key areas in which The Bahamas can nurture economic growth, and called for renewed vigour in achieving national goals.

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Since tariffs are viewed as an impediment to trade, The Bahamas’ bid to join the World Trade Organization (WTO) will likely result in the nation having to slash its 33 per cent average tariff rate, to fall more in line with the nine per cent levied by other WTO members.

“We have to go through a painful process of identifying which categories are going to be changed in order to accomplish a lower average in tariff,”?says WTO chief negotiator and chartered accountant Raymond Winder. He was speaking at a seminar hosted by the Bahamas Institute of Chartered Accountants last week.

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The Ministry of Finance has vowed to bring several key services online by July 2011 in a bid to improve efficiency and communication with the government.

The government hopes the new www.govnet.bs portal will bring about faster processing for applications and payments to a range of departments. Services expected to be online next year under the new initiative include payments for business licence fees and property taxes, renewal of driver’s licences and allowing vendors to monitor purchase orders from government.

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Insurance company Colina has won a Silver Quill Award in Publication Design for its new look 2009 Annual Report entitled Ahead of the Curve.

The Silver Quill awards are awarded annually by the International Association of Business Communicators (IABC). Colina’s report was entered into the IABC Southern Region category, which includes 14 southern US states and four Caribbean countries.

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BAF Financial & Insurance (Bahamas) Ltd is tapping into new markets and capitalising on industry trends to ride out the financial downturn and ensure future growth.

Chief executive officer Chester Cooper explains: “We are building on our core values, finding new ways to serve our clients and attract new ones. We want to expand the reach of our offerings.

“We are going where the people are–people need to save and invest more now than ever before to enhance their quality of life and improve their stake for their children. Everybody aspires for their children to be better off than they were. We are giving them the tools to do that.”

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