NASSAU 21 May 2015 (Stock Market Wire) – Bahamas Petroleum Co is pleased to note that the Petroleum Bill and suite of associated regulations as well as a Sovereign Wealth Bill have been put before the Bahamian House of Assembly for their second readings.

This suite of Bills and associated regulations are set to guide and govern the next phase of safe and responsible hydrocarbon exploration in The Bahamas as well as providing the legislative framework to ensure that the accrued wealth from any exploration success would be optimally invested, managed and conserved for the benefit of this and future generations of Bahamians.

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Mark and Lauren Holowesko’s luxury boutique hotel on New Providence is now open for business. Get a look inside the Bahamian-owned Island House resort here.
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This newsletter focuses on infrastructure trends: both global trends that are impacting island jurisdictions and regional infrastructure market trends. Infrastructure is a story of evolution. Over the years, infrastructure has been a catalyst for social and economic development, and the diversification of island economies.

Download or view a PDF of
8 Emerging Trends for 2015 as provided by the KPMG, March 2015.

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The extension of licenses for Bahamas Petroleum Co and the affirmation of Caribbean Development Bank’s AA credit rating top the news in The Bahamas at the start of the week.
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Ministry of Tourism officials say that the recent Junkanoo Carnival held in The Bahamas was a perfect fit for tourists from latin America.
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LONDON 18 May 2015 (Alliance News) – Bahamas Petroleum Company PLC Monday said it has agreed [to] the terms of a licence renewal addendum in relation to its four southern licenses in The Bahamas, a move that should help with its attempts to find farm-in partners, and would also be focusing its broader efforts on areas where it has drill-ready prospects.

Bahamas Petroleum said the current terms of the southern licenses have been extended to the second quarter of 2018, and the drilling start date is extended to April 2017. The southern boundaries of the licences have been formalised up to The Bahamas/Cuba maritime boundary and all work undertaken in individual licences offsets against adjacent licence obligations, it added.

This is an excerpt from Alliance News as it appeared on May 18, 2015. For updates or to read the current version of this post in its entirety, please click here.

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Ultrapetrol (Bahamas) Limited (NASDAQ:ULTR) released its earnings data on Thursday. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.03, AR Network reports. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $75.30 million.

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This is an excerpt from The Legacy as it appeared on May 15, 2015. For updates or to read the current version of this post in its entirety, please click here.

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Note: These Guidance Notes are issued under The Bahamas and the United States of America Foreign Account Tax Compliance Agreement Bill and will be kept under review with updates issued periodically.

Download or view a PDF of the FATCA guide as provided by the Ministry of Finance, May 15, 2015.

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The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB) have announced that the Selection Committee has decided on the recipients for the two scholarships they provide for the Associates in Captive Insurance (ACI) designation, offered by the International Center for Captive Insurance Education (ICCIE).

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CHICAGO, May 11, 2015 /PRNewswire/ — Morton Salt, Inc. today announced the appointment of Chad E. Walker as Vice President, General Counsel & Corporate Secretary.  He succeeds Mary Doohan, who retired on December 31, 2014 after a successful 23-year career with Morton Salt.

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