Bahamas government officials met with international credit rating agencies Wednesday morning to update them on the ongoing Baha Mar situation.
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Prime Minister Perry Christie has announced that Baha Mar Ltd and affiliated entities are to go into liquidation. Watch or read the Prime Minister’s announcement here.
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New on-the-job training strategies tailored to current and future labour market needs could benefit employability and productivity in The Bahamas. The country currently faces a skills gap that is becoming an obstacle to productivity and limits workers’ employability, according to the Wages and Productivity Survey (WPS) and the Inter-American Development Bank Labour Market Study (LMS).

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While attending the third International Conference on Financing for Development in Addis Ababa, Ethiopia, Bahamas Foreign Affairs Minister Fred Mitchell met with Nkosazana Dlamini-Zuma, president of the African Union Commission in Addis Ababa July 14, 2015.

They met in the margins of the conference. Zuma visited The Bahamas in 2004 with the then President of South Africa Thabo Mbeki.

The UN meeting in Ethiopia is a precursor to the COP – Conference of the Parties meeting on climate change to be held in Paris, France in December of this year.

Pictured: Bahamas Foreign Affairs Minister Fred Mitchell (left) with Nkosazana Dlamini-Zuma, president of the African Union Commission in Addis Ababa July 14, 2015. (Photo courtesy BIS)

The Value Added Tax (VAT) Department has announced that the VAT Free Shopping Scheme will take effect August 15, 2015.

As a result, the VAT and Customs Departments are partnering with Global Blue, an international operator of tax refund systems, to introduce the automated rebate tracking system for The Bahamas.

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Luxury watch maker Breitling recently revealed its new collection directly from Switzerland at an invitation-only event for its Bahamian clientele at the Nassau boutique outlet.

“The Bahamas, though small in population relative to many of our markets, has an incredibly sophisticated and discerning population that appreciates fine workmanship and true quality,” said Mauricio Diaz, vice president, Breitling Caribbean.

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Baha Mar Ltd has issued the following statement with regard to discussions underway with involved parties:

“It is clear that we and our government in The Bahamas recognize the importance to The Bahamas of completing construction and successfully opening Baha Mar as soon as possible. We appreciate the government’s efforts to try to help all parties work together to achieve a consensual resolution in a timely manner.

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NEW YORK, NY–(Marketwired) – Harbour Island, Bahamas was voted “Best Island in the Caribbean” by Travel + Leisure’s most discerning travellers, taking one of the top honours in the publication’s World’s Best Awards 2015. The award was based on travellers’ ratings of their experiences in the annual World’s Best Awards 2015 readers’ survey. This is the second time that Harbour Island has received this influential award.

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The Bahamas Investor would like to congratulate the Bahamian people on more than four decades of self-governance.

The Bahamas continues to prosper and grow, providing a wealth of opportunity for its people and those who wish to live and invest in the country. Happy Independence Day Bahamas and enjoy your long weekend. Posts will resume as normal July 13.

Here follows a press statement by US Secretary of State John Kerry:

On behalf of President Obama and the people of the United States, I congratulate the people of the Commonwealth of The Bahamas as you celebrate 42 years of independence on July 10.

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