Swiss watchmaker Rolex and Bahamian luxury brand retailer John Bull have announced the opening in Nassau next September of a Rolex Technical Institute and the launch of the first Rolex technician training course.

The opening of the centre is a product of the partnership between the Rolex affiliate in The Bahamas and John Bull.

Upon completion of the one-year training course, Rolex technicians will be able to service a Rolex watch in conformity with the strict criteria that Rolex uniformly requires of its certified personnel throughout the world.

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FORT LAUDERDALE, Florida, May 11, 2015 /PRNewswire/ — Balearia has requested a license to operate between the U.S. and Cuba from the U.S. Treasury Department, after both countries’ announcement of the reestablishment of diplomatic relations. The shipping company is awaiting an official response from the U.S. government, and the subsequent authorization from the Cuban government.

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Mild growth momentum was sustained during the review month, amid stable gains in tourism output and foreign investment related construction activity. Some firming in fuel costs was noted, although, on average, energy prices remained below their prior year’s levels. On the monetary front, the modest expansion in both bank liquidity and external reserves was associated with net receipts from the real sector.

Source: Central Bank of The Bahamas.

This is an excerpt from Central Bank of The Bahamas as it appeared on May 11, 2015. For updates or to read the current version of this post in its entirety, please click here.

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7 May 2015 (Hospitality Net) – Winners of the prestigious Development of the Year and Single Asset Transaction of the Year Awards were announced at the Caribbean Hotel & Resort Investment Summit (CHRIS). CHRIS was held April 27-28, 2015, at the JW Marriott Marquis Hotel Miami in Miami, Florida, USA.

The One&Only Ocean Club, Paradise Island, in The Bahamas, was named Single Asset Transaction of the Year 2014. With 105 keys, the property was sold to Access Industries by Brookfield Asset Management for US$137 million ($1.3 million per key). The transaction was brokered by Solid Rock Advisors. The additional finalists in the Single Asset Transaction of the Year 2014 were the British Colonial Properties (British Colonial Hilton), in New Providence Island, The Bahamas, and the Hilton Rose Hall Hotel & Spa, in Montego Bay, Jamaica.

This is an excerpt from Hospitality Net as it appeared on May 8, 2015. For updates or to read the current version of this post in its entirety, please click here.

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The Genting Group, which owns the Resorts World luxury resort on Bimini, has broken ground on a $4 billion development on the Las Vegas strip. Prime Minister Perry Christie, who attended the event, hinted that the resort operator is planning to announce further investment plans for its Bahamian resort.
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Bahamas Foreign Affairs Minister Fred Mitchell addressed the United Nations in New York City this week and met with secretary general of the UN Ban Ki Moon.

A recent announcement by the government that it is considering entering into a partnership with US firm Power Secure to restructure BEC has been met with approval by US Embassy officials.
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Minister of the Environment and Housing Kenred Dorsett says that legislation to facilitate oil exploration in The Bahamas is being debated by the government.
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The Bahamas is playing host to a number of high-profile sporting events as part of an overall effort to grow the sports tourism sector.
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The Securities Commission of The Bahamas announced today that it will chair the Caribbean Group of Securities Regulators (CGSR) and host the annual conference and general meeting for the next two years.

The decision was made during this year’s conference in Runaway Bay, Jamaica held 22-24 April 2015. The Bahamas’ appointment as chair and secretariat until 2017 was unanimously supported and agreed at the CGSR annual meeting on 23 April 2015.

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