As the country continues to enhance its infrastructure in the Aviation sector, the time is “ripe” for Nassau to develop new route opportunities, according to Minister of Aviation and Transport Glenys Hanna-Martin.

The Minister made the statement during welcome remarks at Latin American and Caribbean Air Transport Association (ALTA) three-day conference last week.

The conference was held at the Atlantis Paradise Island November 12–14.

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Prime Minister Perry Christie launched the Inter-American Development Bank funded National Development Plan this week.
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Government policy must be “pro-growth” as small and medium-sized enterprises (SMEs) struggle to compete in a difficult financial climate, said Minister of State for Finance Michael Halkitis last week, as he pledged to remove barriers to doing business in The Bahamas and stabilise the economy.

“We find ourselves at a very, very important crossroads in our development. There are fundamental changes going on internationally and in The Bahamas,” he said referring to the economic slowdown caused by the recent global recession.

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November 17, 2014 (Caribbean Journal) – According to the latest pipeline report from STR, The Bahamas leads the Caribbean with 2,681 rooms in construction, with the vast majority coming from the Baha Mar resort project.

Next is Cuba, with 1,176 rooms in the “in construction” phase, followed by the Dominican Republic, with 715 rooms in the “in construction” phase.

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This is an excerpt from Caribbean Journal as it appeared on November 19, 2014. For updates or to read the current version of this post in its entirety, please click here.

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Secretary general of the Caribbean Community (CARICOM) Irwin LaRocque (right) paid a courtesy call on Prime Minister Perry Christie, at the Office of the Prime Minister, November 17.

LaRocque, of Dominica, is the seventh secretary general of CARICOM.

Monday, November 17, 2014 (BNamericas) – The Bahamas government intends to give the second mobile operator in the islands a three-year grace period before allowing the entry of a third operator, according to the website of the government’s Cellular Liberalization Task Force (CLTF).

Last week, the government invited interested parties to apply for the nation’s second mobile operating license.

The new entrant would compete with incumbent BTC, which has been controlled by Cable & Wireless Communications (CWC) since April 2011 and which enjoyed a post-privatization cellular exclusivity period that ran out in April 2014.

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This is an excerpt from BNamericas as it appeared on November 18, 2014. For updates or to read the current version of this post in its entirety, please click here.

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The Bahamas Financial Services Board (BFSB) at the weekend honoured 32 outstanding individuals for their contribution to the growth and development of the sector.

The BFSB hosted its 14th Annual FSI Excellence Awards gala dinner November 14 in Nassau.

In bringing remarks to the honourees and guests, attorney general and Minister of Legal Affairs Allyson Maynard-Gibson said that the government recognizes that the success of The Bahamas is linked to the success of the financial services sector and the professionals who work within it.

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The Ministry of Finance and the VAT Department are revising the value added tax guidance notes ahead of the implementation of the new tax next year.

The notes foreshadow the administrative framework for the VAT.

“We want to ensure that the private sector receives ongoing clarity about the VAT framework. The next version of the sector specific guidance notes and the general VAT Guide will do this,” a spokesperson for the Ministry said.

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Commonwealth Bank’s 6,000-plus shareholders will have a little more money to spend during the holidays this year when the Bank issues a pre-Christmas extraordinary dividend of $.06 per share.

The extraordinary dividend pay-out is slated for November 28 and will benefit those who purchased shares prior to November 21.

Please Note: Any reference to ratings or underlying recommendation does not reflect the opinion of The Bahamas Investor or any of its contributors.

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Prime Minister Perry Christie has said that the liberalization of the cellular phone market will increase competition among businesses and reduce costs for Bahamians.
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