The Blue Ribbon Panel appointed for the Bahamas Financial Services Board (BFSB)’s Industry Excellence Awards 2015 has held its first meeting to consider the nominations.

The awards programme recognises outstanding industry practitioners in a number of categories, including Executive of the Year, Mentor of the Year, Professional of the Year, and Achiever of the Year.

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Deltec has been named Best Private Bank in The Bahamas by Global Finance in its first annual World’s Best Private Banks Awards for 2015.

Global Finance regularly ranks the top performers among banks and other providers of financial services.

“Deltec has been providing private banking and wealth management services in The Bahamas for more than 50 years,” said Joseph Giarraputo, publisher and editorial director of Global Finance.

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11:59 AM Nov 02 2015 (CNN)– The U.S. Navy, using a remotely controlled submersible operating almost 3 miles below the ocean’s surface, has identified the cargo ship El Faro, Navy spokesman Christopher Johnson said Monday.

The National Transportation Safety Board confirmed the identification.

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This is an excerpt from CNN/WTCI News Channel 12 as it appeared on November 2, 2015. For updates or to read the current version of this post in its entirety, please click here.

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Andbank (Bahamas) Ltd will host its Worldwide Managing Directors Meeting in Nassau for the first time this month, with more than two-dozen of the bank’s top executives expected to fly in for the series of discussions.

From November 3-4, around 33 of the private bank’s top executives from its international offices will gather to discuss current global trends, strategies and initiatives that will position it as a leading private bank across the globe.

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Nassau-based KRyS-Global and UK-based AlixPartners, joint provisional liquidators (JPLs) to the stalled Baha Mar resort project, have acknowledged the appointment of Deloitte as the receiver.

Commenting on behalf of the JPLs, Edmund Rahming, KRyS-Global and Alastair Beveridge of AlixPartners, said the team appointed in September by Supreme Court Justice Ian Winder to preserve and protect the assets of the project would now work closely with the receiver.

“Our role now is to work closely with Deloitte as the bank’s appointed receiver with a view to exploring and deciding on the most appropriate strategic option in order to see the resort completed and open for business,” Beveridge and Rahming said in a joint statement.

Cornèr Bank (Overseas) Ltd and the Bahamas International Film Festival (BIFF) will team up for the first time this year in a new sponsorship deal. Cornèr Bank is launching the 2015 Bahamas International Film Festival mobile app, as well as putting its support behind the festival’s World Cinema and Latin America Film side bars and receptions.

This exclusive partnership with the festival was announced this week by BIFF founder and executive director Leslie Vanderpool.

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Andbank (Bahamas) Ltd has announced a new executive team in its local office.

Manel Martinez has been appointed chief executive officer at the bank and steps into the new role after more than two decades with the global financial institution.

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The Attorney General and Minister of Legal Affairs Allyson Maynard Gibson yesterday released the following statement regarding Baha Mar:

The government is deeply disappointed that Baha Mar’s insolvency and the continuing delays in resolving it have led the Joint Provisional Liquidators to apply for and obtain sanction to implement a redundancy programme affecting approximately 2,000 Baha Mar employees.

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Industry leaders have called for the Caribbean region to take ownership of regulatory issues affecting the international financial services sector.

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Prime Minister Perry Christie has been in emergency talks with representatives of key Chinese stakeholders over the future of the bankrupt Baha Mar megaresort on Cable Beach.
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