The following statement has been released by the Governor of The Central Bank of The Bahamas John Rolle:

In its role as Controller of Exchange in The Bahamas, and in line with its commitment to conduct periodic reviews of Exchange Controls, the Central Bank, after consultation with the government, is pleased to announce additional liberalisation of measures and processes governing capital account (investments and borrowing) and current account (trade) transactions.

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Major US tour operator Vacation Express has announced that it hit a milestone of 25,000 visitors to The Bahamas last year. Watch an interview with senior marketing manager Elma Placerers Dieppa.
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Interest is growing in the newly renovated One Ocean condominiums on Paradise Island, as developers put the finishing touches on the project’s design and prepare to open model units in May.

Replay Resorts acquired 52 unfinished units in the former Ocean Place condominiums in July 2015 and began extensive renovations to the property. According to Replay’s director of marketing and sales Greg Ulmer, the developers will invest around $20 million in upgrades and improvements and there has already been considerable interest from potential buyers.

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Local contractors and more than 150 Bahamian workers are on site at ONE Cable Beach, a luxury condo project by Aristo Development just west of Melia Nassau Beach Resort, West Bay Street.

Bahamian subcontractors on the $70 million development include Mosko/Bahamas Marine and Greyco Ltd.

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Pictured: Bank of The Bahamas managing director Wayde Christie. (Photo courtesy BOB)

After three years of challenges, Bank of The Bahamas said this week that a transformation that has been underway since January is netting positive results in asset recovery, credit risk procedures and strategic plans, including improved capitalization.

The news came in a statement from managing director Wayde Christie who projected that the BOB that will emerge following the transformation and restructuring will be “leaner, faster, better”.

“We continue to examine and assess the policies and procedures of this bank from one end of the spectrum to the other,” said Christie. “We are leaving no stone unturned.”

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The Ministry of Tourism and online booking portal Expedia have agreed a partnership to promote the Junkanoo Carnival.
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Bahamian NCAA basketball player Buddy Hield is having an impact on the college league in the US with Oklahoma University Sooners.
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At 40, Randy Rolle is the youngest Bahamian diplomat to be appointed to the position of consul general. Watch an interview with Rolle in his office in Atlanta.
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NASSAU, Bahamas (CMC) – The Bahamas is to host a two-day workshop on International Centre for the Settlement of Investment Disputes (ICSID) as the Caribbean Community (Caicom) country moves in the direction of becoming an international arbitration centre.

The Ministry of Financial Services said it is partnering with ICSID for the March 30 – 31 event that will provide training for individuals who will be serving in the area of arbitration.

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The MOT is looking to expand the cruise industry, with a large, high-level delegation attending a Florida Caribbean Cruise Association event in the US to promote The Bahamas and meet with industry leaders.
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