The Bahamas International Securities Exchange (BISX) announced [Friday] that Cable Bahamas Ltd. (“CAB”) has successfully completed the process for two preference shares to be listed on the Exchange. The two securities will now trade through the Exchange’s trading system, The Bahamas Automated Trading System (BATS). Information regarding these securities is presented below:

• Series 9 Preference Shares will be listed under the symbol CAB9

• Series 10 Preference Shares will be listed under the symbol CAB10

In May 2000 BISX successfully launched its domestic market for the listing and trading of local public companies and since 2008 BISX has been listing the secondary issues of BISX listed issuers.

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The Bahamas Supreme Court has decided to postpone the winding up of Baha Mar until early next year. Watch a ZNS Network news report here.
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Commonwealth Bank yesterday released a very positive earnings report declaring $44 million in profits for the nine months to September 30, 2015, with total assets exceeding $1.5 billion.

“This positive third quarter earnings report reflects an increase of 12.2 per cent or $4.8 million above the $39.2 million in profits for the same period last year,” said president Ian Jennings. “But more importantly, these results demonstrate that our steadfast conservative approach to lending combined with vigilant oversight of operating expenses continues to serve our more than 6,000 shareholders well, in addition to the community as a whole.”

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JetBlue Airways is to partner with the 12th Annual Bahamas International Film Festival (BIFF), and will lend its name to the New Vision Film Category of the Festival.

The announcement was made by BIFF founder and executive director Leslie Vanderpool, and Alan Sweeting, general manager of JetBlue Airways in The Bahamas.

The festival will take place 1-12 December, 2015.

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The 2015 award recipients are:

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Bahamas Prime Minister Perry Christie has announced the appointment of chartered accountant and managing partner of Grant Thornton Bahamas Andy Gomez (pictured) as the new ambassador to the People’s Republic of China.

The 57 year old financial services professional held positions with Peat Marwick & Mitchell (now KPMG) and Thorne Ernst & Whinney (now Ernst & Young) before establishing Gomez & Co, chartered accountants, in 1990.

The ambassador will take up the post early next year in Beijing following a ceremony to present his instrument of appointment and his credentials.

Pictured: Minister of State for Finance Michael Halkitis addresses Andbank’s top executives November 2 at the Ocean Club Resort on Paradise Island. (Photos courtesy Andbank)

Speaking at Andbank’s annual Worldwide Managing Directors Meeting held in Nassau earlier this month, State Minister for Finance Michael Halkitis said that The Bahamas’ financial services industry must remain client focused and committed to continuing the culture of robust compliance.

With a series of presentations from The Bahamas’ State Minister for Finance Michael Halkitis and Andbank Group CEO Ricard Tubau, among others, nearly 33 of the Andorran-headquarted bank’s top executives explored current trends and future projections for the financial services industry.

Minister Halkitis told the group that the government was cognizant of the need for the financial services industry to be client focused.

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The world’s largest telecommunications company Liberty Global has agreed to buy BTC’s parent company Cable and Wireless for around $8.2 billion, according to a ZNS Network news report.
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The Ministry of Financial Services is establishing a new research and planning unit to gather market intelligence and help The Bahamas stay ahead of changes in the global industry.

The new department will “monitor markets and movements in the sector to cause [The Bahamas] to remain compliant and competitive” according to Minister of Financial Services Hope Strachan (pictured) who spoke at a Bahamas Institute of Chartered Accountants (BICA) event this morning.

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The Caribbean Hotel and Tourism Association (CHTA) is targeting wholesalers in Latin America and emerging destinations as well as tour operators specializing in niche markets through its Caribbean Travel Marketplace scheduled January 21-23, 2016 at Atlantis Paradise Island in The Bahamas.

Building upon the existing and longstanding portfolio of global operators conducting business in the Caribbean, CHTA is focusing on securing the participation of Latin American tour operators in Argentina, Brazil, Chile, Colombia, Panama, Peru and Venezuela and emerging destinations Russia, India, Scandinavia, Ukraine and the Middle East.

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