The managing partner of HLB Galanis & Co has said that he is optimistic about economic growth returning to The Bahamas in the next one to three years on the back of the opening of Baha Mar in December, foreign direct investment in the Family Islands and increased tax income.
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The Bahamas, the Dominican Republic and Puerto Rico lead the Caribbean in the number of hotel rooms under construction, according to a new report.

STR’s Caribbean/Mexico hotel development report found that the region had a total of 163 hotels and 27,690 rooms in the development pipeline through June.

The Bahamas had 2,706 rooms under construction, followed by the Dominican Republic with 817 rooms, Puerto Rico with 471 rooms and St Kitts and Nevis with 245 rooms.

This is an excerpt from Caribbbean Journal as it appeared on July 24, 2014. For updates or to read the current version of this post in its entirety, please click here.

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Baha Mar has doubled the enrollment of its Leadership Development Institute (LDI) to more than 400 students–six of whom have intellectual and developmental disorders (IDD).

In May, 150 students graduated from LDI’s first class. The following session of LDI saw enrollment increase to 162 students.

“Baha Mar is a transformative project that is making a real difference in The Bahamas,” said Baha Mar chief operating officer Paul Pusateri. “This unprecedented programme is touching lives and making it possible to provide chances for a career in hospitality that may have otherwise been out of reach.”

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The Standard for Automatic Exchange of Financial Account Information in Tax Matters calls on governments to obtain detailed account information from their financial institutions and exchange that information automatically with other jurisdictions on an annual basis. The Standard, developed at the OECD under a mandate from the G20, endorsed by G20 Finance Ministers in February 2014, and approved by the OECD Council.

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Bridgetown, BARBADOS–The Caribbean Association of Investment Promotion Agencies (CAIPA) has been awarded $1 million by the Inter-American Development Bank (IDB) under a regional public goods (RPG) programme to execute a number of projects over the next two years geared towards increasing foreign direct investment (FDI) into the Caribbean region.

The Caribbean Export Development Agency (Caribbean Export), which is also the secretariat for CAIPA, the United Nations Economic Commission for Latin America and the Caribbean (UN ECLAC) and the IDB convened a meeting together with approximately 20 representatives from the investment promotion agencies (IPAs) in the Caribbean and in Port of Spain, Trinidad & Tobago, July 8, 2014, to discuss and agree on a methodology for the development of a Caribbean database on FDI projects–one of the key projects to be executed with the funds provided by the IDB.

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Bridgetown, BARBADOS–Regional investment promotion stakeholders convened in Port of Spain, Trinidad & Tobago, to discuss the progress towards the development of a Regional Investment Promotion Strategy and Implementation Plan for the CARIFORUM region July 9, 2014.

The initiative led by the Caribbean Export Development Agency (Caribbean Export) with the guidance of the Regional Investment Promotion Steering Committee (RIPSC) and the Caribbean Association of Investment Promotion Agencies (CAIPA), is the culmination of two years of work under the 10th European Development Fund Regional Private Sector Development Programme.

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The developer of The Residences at Baha Mar, a tony collection of 284 private residences within a $3.5 billion luxury resort in Nassau, The Bahamas, has hired Douglas Elliman as the exclusive sales and marketing consultant for New York and Florida.

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This is an excerpt from Real Estate Weekly as it appeared on July 21, 2014. For updates or to read the current version of this post in its entirety, please click here.

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NEW YORK, July 17, 2014 /PRNewswire/ — Sheldon Good & Company Luxury Real Estate, a New York-based luxury real estate auction firm, is offering a beautiful beachfront property on Long Island in The Bahamas. The six-acre luxury parcel will be sold at auction on August 27th, offering prospective bidders a chance to own a spectacular building site with 383 feet of magnificent pink coral sand beach frontage, complete with its own barrier reef, on which they can create a tropical paradise.

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Minister of Transport and Aviation Glenys Hanna-Martin received a courtesy call from US Embassy Charge d’ Affaires Lisa Johnson at the Ministry of Transport and Aviation, July 17, 2014.

Minister of Housing and the Environment Kenred Dorsett says that his ministry is putting together draft legislation regarding oil exploration in The Bahamas.
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