The International Monetary Fund has released the July 2016 update to the World Economic Outlook amid uncertainty following the UK EU referendum result.

View or download a PDF of the communication here.

…continue >

The Securities Commission of The Bahamas (SCB) has officially launched a project to overhaul the laws governing investment funds in order to strengthen regulation of the sector and improve competitiveness in this growth area.

The commission launched the overhaul project on 1 July 2016 with the engagement of Gonsalves Sabola Chambers as the drafting consultant and Graham Thompson and Co as the technical consultant. The drafting consultant has responsibility to produce drafts of the legislation in accordance with instructions provided by the commission while the role of the technical consultant will include the benchmarking of proposed legislation against comparable legislation in select jurisdictions, particularly for competitiveness in the sector and in preparation for the EU passporting process.

…continue >

…continue >

Pictured: Buddy Heild poses with director general in the Ministry of Tourism Joy Jibrilu, Minister of Youth, Sports and Culture Dr Danny Johnson and others at an official reception last week. (MOT Photo)

Chavano ‘Buddy’ Hield was bombarded by scores of excited visitors and Bahamians at the Lynden Pindling International Airport (LPIA).

Hield, a rising Bahamian basketball star who was drafted sixth by the New Orleans Pelicans at the National Basketball Association (NBA) draft, was met with a Junkanoo rush out at the airport.

Visitors and locals rushed to greet him and take selfies with the Grand Bahama native. Hield graciously and meticulously shook every hand and posed for every selfie. LPIA baggage handlers, taxi drivers, guests, locals and the media alike ran towards Hield as he walked towards his car. It was pure pandemonium. Dozens watched as his entourage, escorted by police outriders, drove away from the airport. Many were giddy and filled with laughter. “I can’t believe I got a selfie,” one tourist said.

…continue >

Bahamian basketball star Buddy Hield received a heroes welcome on his return to his homeland. Watch a video of his visit here.
…continue >

The Warwick Paradise Island Bahamas, an adults-only all-inclusive resort, has released introductory rates for the property, which will be the first new development on Paradise Island since 2007.

Originally announced in January 2016, the 250-room resort is currently accepting reservations for stays beginning October 1. Guests who book the Early Bird Savings promotion by July 31, 2016 will enjoy up to 30 percent off rack rates, which start at $371 per room, per night based on double occupancy.

This is an excerpt from Caribbean Journal as it appeared on July 21, 2016. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >

Baleària Caribbean has introduced a new vessel with larger capacity to replace the existing fast ferry on the daily service between Grand Bahama and Fort Lauderdale, Florida.

The Jaume 1 ferry arrived in Grand Bahama July 19, 2016 bringing some 500 passengers to Freeport Harbour. The ship has a capacity of 600, 200 more than its predecessor.

On hand to welcome the ship was permanent secretary of the Ministry for Grand Bahama Melvin Seymour, along with members of the Ministry of Tourism team, headed by Betty Bethel, director of Ministry of Tourism, Grand Bahama.

…continue >

ELEUTHERA, BAHAMAS (Hotel Business) — Owner/operator Shaner Hotel Group has been awarded a Marriott Autograph Collection license for its French Leave Resort here, representing the first branded franchise on the island.

The six-acre French Leave Resort is part of the 270-acre preserve of the historic settlement of Governor’s Harbour and will feature 20 one- and two-bedroom Bahamian-design villas. Situated on the ocean, the resort has access to more than a mile of beach.

The French Leave Resort features a 24/7 fitness center, pool and wedding pavilion clubhouse, the 1648 Bar & Grille restaurant, guest golf carts, marina boardwalk, docks for mega-yachts, concierge services and in-room iPads.

This is an excerpt from Hotel Business as it appeared on July 20, 2016. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >

The Government is optimistic of its credit rating review as it awaits Moody’s assessment of the country’s economy.
…continue >