07:51 14 (UK) Jun 2017 (Proactive Investors) – BPC declared it was “confident” of being able to conclude a farm-out deal and highlighted that sentiment in the oil market was improving.

Bahamas Petroleum Company Plc (LON:BPC) has received a £2.6mln (US$3.25mln) injection from investors as it continues to work on partnering talks for its exploration projects.

The company raised the capital via a share placing, selling 260mln new shares priced at 1p each.

This is an excerpt from Proactive Investors as it appeared on June 14, 2017. For updates or to read the current version of this post in its entirety, please click here.

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BFSB hosted landfall events on May 30th and 31st in Montreal and Toronto, Canada respectively. The Montreal landfall event was co-hosted by BFSB and the law firm DeGrandPre Chait. Mr. Stephen Solomon who is a partner with the firm spoke in January at BFSB’s International Business and Finance Summit in Grand Bahama. It was at this time, that it was agreed that there were opportunities for local service providers in the Canadian market.

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This is an excerpt from Bahamas Financial Services Board as it appeared on June 14, 2017. For updates or to read the current version of this post in its entirety, please click here.

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The Caribbean Tourism Organization’s Caribbean Week held in New York City last week has been hailed as a success by the Bahamas Ministry of Tourism. Watch a report on the event here.
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The Central Bank announces the appointment of Mr. Charles Littrell as the new Inspector of Banks and Trust Companies, with effect from 26 June, 2017. He will head up the Bank Supervision Department and continue the Central Bank’s financial sector supervisory capacity building program.

A national of Australia, Mr. Littrell succeeds Mr. Abhilash Bhachech, whose tenure as Inspector ends in June 2017. Mr. Littrell joins the Central Bank, after serving as the Executive General Manager of the Australian Prudential Regulation Authority (APRA).

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The Office of the Prime Minister has pledged $1 million to support small and medium-sized businesses in Grand Bahama, according to Minister of State Kwasi Thompson during the Grand Bahama Port Authority’s (GBPA) Business Innovation and E-Commerce Boot Camp last week.

The one-day event was held at the Grand Lucayan resort June 7, and attended by a cross section of business owners in Grand Bahama.

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The Caribbean Tourism Organization (CTO) has signed a Memorandum of Understanding (MOU) with the Travel Foundation (TF) to formally establish a framework of cooperation.

The agreement will facilitate collaboration between the organizations in areas of common interest to contribute to sustainable tourism development in the Caribbean Region.

The MOU was signed June 8 during a CTO press conference held during Caribbean Week New York.

Bahamas Tourism and Aviation Minister Dionisio D’Aguilar has been named as the new chairman of the Caribbean Tourism Organization (CTO) during a press conference at Caribbean Week in New York City.

The CTO is the Caribbean’s tourism development agency comprising membership of over 30 countries and territories including Dutch, English, French and Spanish, as well as a myriad of private sector allied members. D’Aguilar will lead the charge for the next year.

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June 9, 2017 (TravelPress) — Travel agents from across Canada and PressToday are gathered in The Bahamas this week for the Out Islands Adventure FAM trip hosted by TravelBrands and the Bahamas Tourist Office.

Based at the all-inclusive Melia Nassau Beach Resort, the group will spend the week island hopping, exploring the unique character of three out islands – Bimini, Abaco and Eleuthera.

Agents can book an out island adventure for clients through TravelBrands’ Amazing Islands Collection, part of its Experiences by Sunquest program.

This is an excerpt from TravelPress as it appeared on June 9, 2017. For updates or to read the current version of this post in its entirety, please click here.

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FinTech is an area of opportunity for Bahamian banks, according to Abhilash Bhachech, inspector of banks with the Central Bank of The Bahamas, who told attendees of an industry conference yesterday that such technology is a growing trend worldwide.

As clients prioritize convenience, the market for digital services is expected to boom worldwide. According to Bhachech, total IT spend in the worldwide financial industry soared to $500 billion last year, and that number is set to rise.

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Governor of the Central Bank of The Bahamas John Rolle yesterday outlined how the country’s banking sector has contracted due to global pressures and shared details of the Central Bank’s strategic plan to boost growth in the industry.

Addressing the Association of International Banks & Trust Companies’ (AIBT) Regulators Forum, held at the Baha Mar conference centre, Rolle said around 4,000 people were currently employed in The Bahamas’ banking sector – compared to close to 5,000 in 2000. “We could be getting so much more out of the sector”, he said, highlighting obstacles to growth such as stricter global regulatory standards alongside de-risking and the resulting loss of correspondent banking relationships.

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