The Bahamas Investor

...ion-making. Although between 1993 and 2012, BOB enjoyed an unbroken record of profitability, it has, in common with nearly all other clearing banks in The Bahamas, experienced reversals either resulting from or exacerbated by the recent global recession and, in particular, the last U.S. recession. In the case of the Bank of The Bahamas, the Central Bank, under the leadership of Governor Wendy Craigg, has carefully monitored BOB with particular ref......

...Bahamas governor general Dame Marguerite Pindling paid a courtesy call on Queen Elizabeth II at Buckingham Palace yesterday. The meeting was part of a state visit by the Governor General to London to attend an investiture. Pictured: Bahamas governor general Dame Marguerite Pindling (left) meets Queen Elizabeth II at Buckingham Palace October 14, 2014 (Photo courtesy BIS)......

...eneral during an official visit on the same day. Allyson Maynard-Gibson presents the visiting senior judicial officers from China with a gift May 12, 2014. From left: Damien Gomez, State Minister for Legal Affairs; Maynard-Gibson; Hu; and Yuan Guisen, ambassador of China to The Bahamas. (BIS Photo/Letisha Henderson)......

...al travelers seeking a luxurious, exciting resort environment. “Baha Mar’s state-of-the-art casino, world-class service and Bahamian hospitality will create a unique experience to compete with the best resorts worldwide,” Brunini said. “I’m excited to join a company with such great vision, and to help build an international gaming resort with a true commitment to customer service, employee development and community involvement. We are working hard......

Dubai, United Arab Emirates–Fred Mitchell, Minister of Foreign Affairs of The Bahamas, and his counterparts from St Vincent, Barbados, St Lucia, Grenada, as well as the Environment Minister of Trinidad and the ambassador for Guyana visited the Ministry of International Cooperation and Development of the United Arab Emirates May 7. The delegation met with the UAE’s Minister of State for International Cooperation Reem Al Hashimy. The Prime Minister......

...ification are key to broadening the country’s client base, according to the Minister, who said: “New product innovation is a key factor of growth in this industry.” “The Bahamas has taken a very serious approach to the preservation of the industry [and] is in a constant state of redefining itself. Despite the fast paced changes in global standards, there are opportunities and clear avenues for growth.” The BIFS seminars run May 27-29 and include p......

...Minister of State in the Ministry of Finance Michael Halkitis says that the government’s fiscal consolidation plan is still on course.......

...riod, from 471 to 613, or 30.1 per cent. In opening the briefing, Minister of State for Finance Michael Halkitis said the sector’s expansion has had a positive impact on overall employment in the financial services sector. “The growth in activity in the securities and investment funds sectors has, to some extent, offset the adverse impact on employment in the financial services sector resulting from the downsizing of other financial institutions,......

...Tax reform efforts by the government are gathering speed, as Minister of State for Finance Michael Halkitis looks to introduce a 7.5 per cent value added tax later in the year.......

...Grand Bahama has continued in its quest to become a leading maritime hub for the region with the addition of a state-of-the-art Svitzer training centre.......

...creditable, it would pass on the equivalent of 6.2 per cent of VAT in the form of higher electricity prices. BEC’s commercial customers would be particular hard hit as they would face higher electricity prices and would have no input VAT to claim as a credit. Their own selling prices, and the VAT that they charge, would also be higher. This clearly illustrates how tax cascading can result from VAT exemption. We are now proposing a regime of VAT-i......

...ed Mickey Arison as the chief executive officer at Carnival, took the helm of one of the world’s largest entertainment and transportation companies at a time when the industry was facing serious challenges, but he maintained his vision and what he has to share will be invaluable to our members as we, in The Bahamas, face uncertain waters with new taxes and a slowly recovering economy,” said Chamber CEO Edison Sumner. Donald will be accompanied by......

...s ambience and first-class service.” Baha Mar will offer upscale hotels, a state-of-the-art casino, luxury shopping, fine dining, nightlife, outdoor adventures, art galleries, golf, tennis and wellness experiences to compete with the best the world has to offer. Its high-profile partners include a host of outstanding names such as golf legend Jack Nicklaus; ESPA Spa at Baha Mar; and Kravitz Design, the firm led by Grammy Award-winning performing a......

...wners after a legally defined period of time. These assets could be in the form of dormant bank accounts, tax refunds, uncashed checks, insurance or pension policies, stocks or brokerage accounts, and inheritances, among others. “We have begun our first phase of contacting those who we believe to be owners of unclaimed assets that have been identified by AssetMine. Our team uses a multi-stage research process into publicly available databases acro......

...tourism Joy Jibrilu, who will attend the OAS 22nd Inter-American Congress of Ministers and High-Level Authorities of Tourism in Barbados, this month, says sustainable development is something of which The Bahamas is cognizant because the country is a Small Island Developing State. She says that one of the important features of the initiative is the attention it will be giving to the port in Nassau: “The port is where the majority of the approxima......