This past weekend Replay Resorts unveiled a limited number of completely re-imagined condominium and penthouse residences and stunning common areas overlooking Nassau Harbour and the Caribbean Sea. At the end of the weekend One Ocean had secured over $34 million in overall sales commitments for the residences.

In 2015 Replay acquired all 52 unsold residences in the 79-unit building at the former Ocean Place condominium development on Paradise Island. Following acquisition, Replay began work on a multimillion-dollar redesign and transformation of the residences and the common areas.

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This is an excerpt from World Property Journal as it appeared on August 26, 2016. For updates or to read the current version of this post in its entirety, please click here.

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Atlantis Paradise Island resort in The Bahamas has launched the first phase of a $20 million transformation at what is currently known as the Coral Towers.

With interiors designed by Bilkey LLinas Design (BLD), once all renovations are complete, the hotel will re-open as The Corals Atlantis.

“This renovation marks a significant step in our long term vision for Atlantis,” said Paul Burke, president and managing director of Atlantis Paradise Island.

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With the second week of Goombay Summer Festival (GSF) a mere memory, officials at the Ministry of Tourism are making sure that the economic benefits are felt throughout the festival period.

Director of Events Charity Armbrister believes that events such as GSF and Junkanoo Summer Festival (JSF) exist to supplement the local economy.

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Graham Holloway of BKP Development Research and Consulting paid a courtesy call on Minister of Financial Services Hope Strachan at the Ministry yesterday.

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NewCo 2015 Ltd (NewCo), recipient of the nation’s second licence for the provision of cellular and data services, announced yesterday that 20 of its 22 planned cell sites have been fully constructed on Grand Bahama and are currently undergoing commissioning and testing.

The company made the announcement during a media update event held at a central residential area in the heart of Freeport.

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Grand Bahama Shipyard, which sees most of the cruise drydock business in North America, has announced a number of investments and changes to its executive team.

“We invested in our workshops by upgrading and purchasing machinery and tooling. Also expanded were our wet berth capabilities to relieve pressure off dry dock utilization and move vessels out of dry dock and into service faster,” said the yard in a statement. Both Carnival Corporation and Royal Caribbean Cruises are part of the yard’s ownership group.

This is an excerpt from Cruise Industry News as it appeared on August 24, 2016. For updates or to read the current version of this post in its entirety, please click here.

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NASSAU, Bahamas, August 2016 (GLOBE NEWSWIRE) — The countdown is on as sixteen (16) couples eagerly wait for their wedding day in paradise. With The Bahamas 16 Weddings three months away, couples are in the final stages of planning and finalizing the details of their special day.

The blissful Canadian couples will be a part of sixteen weddings in various locations all transpiring simultaneously with one thing in common, their love. The weddings will take place on the alluring islands of Abaco, Andros, Bimini, Cat Island, Eleuthera, Exuma, Harbour Island, Grand Bahama, Long Island, Nassau and Paradise Island.

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MIAMI, August 2016 /PRNewswire/ — Classification society Lloyd’s Register has bestowed the “ECO Notation” designation on the new Carnival Vista, marking the first Carnival Cruise Line ship to achieve this distinction. The notation recognizes that the cruise line designed, built and operates Carnival Vista in a manner that exceeds current maritime statutory environmental regulations.

Lloyd’s Register (LR) established a set of voluntary standards that vessels can seek to achieve that exceed regulations established by the International Maritime Organization and other national and international regulatory agencies.

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The Bahamas Competent Authority advises that the “tax information exchange” portal for Bahamian financial institutions to submit information on FATCA reportable accounts opened on 19 July 2016 and will close on 26 August 2016 at 5 p.m. EST.

Reporting financial institutions must report through the “tax information exchange” portal even if they have no reportable accounts for the reportable year. …continue >

The government has released the following statement in response to Moody’s Investor Services downgrading The Bahamas’ country rating from Baa2 to Baa3:

The international credit rating agency Moody’s Investor Services has downgraded The Bahamas’ country rating, by a single notch, from Baa2 to Baa3, with a stable outlook. Moody’s also lowered most of the risk ceilings for The Bahamas’ long-term and short-term financial obligations.

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