Bahamas Petroleum Co (BPC), the oil and gas exploration company with a significant prospective resource in licences in The Bahamas, has announced its final results for the year ended 31 December 2014.

…we believe we have access to what is potentially a multi-billion barrel petroleum resource…      ~ Simon Potter, BPC, CEO

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Pictured: Thousands of people participate in the traditional Labour Day parade beginning midmorning. (BIS Photo)

June 7 is Labour Day in The Bahamas, a national holiday celebrated on the first Friday in June in order to create a long weekend for workers.

First quarter 2015 data from the Ministry of Tourism showed that total visitor arrivals grew marginally by 0.8% to 1.8 million from end-December 2014, virtually in line with the gain posted in the comparable 2014 period. However, growth in the high value-added air segment strengthened to 8.9% from a mere 0.2%, for a 0.4 million arrival count …Continue April’s Monthly Economic and Financial Developments report >

This is an excerpt from The Central Bank of The Bahamas’ Monthly Economic and Financial Developments report. To download or view the PDF in its entirety, please click here.

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A high-level seminar and training course facilitated by the International Maritime Organization is being held in The Bahamas this week in regards to safety in the maritime industry. Watch the ZNS Network news report of the event here.
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The new services added to The Bahamas Bureau of Standards and the signing of the Caribbean Labour Memorandum of Understanding in Brussels top the business news in The Bahamas at the beginning of the week.
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Prime Minister Perry Christie presented the 2015-16 Budget Communication to the House of Assembly yesterday.

View or download a PDF of the communication here.

During this month and next, the Bahamas Financial Services Board (BFSB) is continuing to participate in a variety of conferences, briefing visits and holding a Bahamas Landfall event.

In May, BFSB participated in a Henley & Partners conference in Zurich, as well as a mini briefing visit incorporating one-on-one meetings with a number of advisors in Zurich and Geneva.

The following week, the BFSB was in Sao Paolo, Brazil for the Private Wealth Brazil Forum on May 14.

As a key sponsor, BFSB presented and exhibited at the forum, in collaboration with the Ministry of Financial Services and representatives from a number of member firms.

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Here follows remarks by Prime Minister Perry Christie at the 3rd Eleuthera Business Outlook Conference, May 21, 2015, French Leave Resort, Eleuthera.

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Ottawa, Canada (PRWEB) May 21, 2015 – Today, Vizor Ltd announced that the Central Bank of The Bahamas went live with its Online Reporting and Information Management System (ORIMS). The new financial regulatory technology, strategically implemented by Vizor, will provide comprehensive business intelligence to the Central Bank as well as significantly improve data collection, validation, storage, and reporting.

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New York, May 22 2015 (Moody’s) — Regional growth in the Caribbean will accelerate in 2015-16 as a result of the recovering tourism industry and sustained low oil prices, helping the credit quality of the sovereigns in the region stabilize following negative pressure in 2014, says Moody’s Investors Service in the report “Sovereign Outlook — Caribbean: Sovereign Credit Quality Supported by Recovery in Tourism, Low Oil Prices.”

Median growth in the Caribbean was 1.5% in 2014 and should accelerate to 2.0% in 2015. In addition, government debt, which rose following the financial crisis, is slowly stabilizing or in some cases declining, putting average sovereign debt metrics on par with those in Latin America.

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