New legislation regarding accounting regulation and the release of the new issue of The Bahamas Investor top the business news on the ZNS Network channel this week.
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Prime Minister Perry Christie has backed a CARICOM five-year strategic initiative for development, saying that the region must tackle issues such as economic growth and education. The Prime Minister made the comments on the sidelines of the 35th CARICOM Heads of Government Conference.
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Pictured: Recent Schooner Bay aerial view, Abaco, The Bahamas. Click the photo or click here to see the photo full sized. Click here to see an earlier photo. (Photos courtesy Pordes Residential Sales & Marketing/Schooner Bay)

ABACO, The Bahamas, July 2014–(Marketwired) – Schooner Bay, a revolutionary, sustainable real estate development on Great Abaco Island has announced plans for property additions.

Aside from the unique, Bahamian style homes buyers have the opportunity to build, condominiums are now also for sale at this one-of-a-kind harbor village. Schooner Bay’s newest residential offering is called Verandah House. Priced from just $395,000, the one- and two-bedroom condominiums range from 650 to 1,400 square feet. The Verandah House represents authentic Bahamian architecture with an Alaskan yellow cedar shingle roof and dual covered verandahs that allow residents and guests to enjoy outdoor living and the Atlantic sea breeze.

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A team of talented Bahamian chefs recently took part in the Taste of The Caribbean culinary competition in Miami. Minister of Tourism Obie Wilchcombe says he is determined to bring the competition to The Bahamas in the future.
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DALLAS, July 2014 /PRNewswire/ — The Employees of Southwest Airlines (NYSE: LUV) recently launched an international future for America’s largest domestic airline* by inaugurating service to three Caribbean destinations from three of its US gateway cities. Southwest Airlines’ first international departure, Flight 1804 from Baltimore/Washington to Oranjestad, Aruba, departed ontime at 8:30am EDT, closely followed by Southwest Flight 906 to Montego Bay, Jamaica, where its first-ever scheduled international arrival was planned for just after 11am EDT.  A midday flight from Baltimore/Washington to Nassau/Paradise Island also brings Southwest Airlines’ legendary Customer Service to The Bahamas.

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During a press conference held at the Office of the Prime Minister July 1, managing director at Brookfield Asset Management Corp Andrea Balkin announced that the company would complete a $1.9 billion recapitalization and appoint a new property manager for the Atlantis Paradise Island resort.

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The following is the July 2 address by Prime Minister Perry Christie at the 35th CARICOM Heads of Government Conference currently being held in Antigua and Barbuda, delivered:

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The Bahamas Financial Services Board (BFSB) last week hosted an industry consultation for the latest financial services sector product soon to be rolled out: the Investment Condominium (ICON).

BFSB chief executive officer Aliya Allen in introductory remarks at the event spoke to the collaborative work done by a wide assembly of industry partners in preparing the fund structuring vehicle to this stage of final consultation prior to its submission to Cabinet and ultimately to Parliament.

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BETHESDA, Md., July 2, 2014 (GLOBE NEWSWIRE) — Marriott International, Inc. (Nasdaq:MAR) announced today that the iconic Atlantis, Paradise Island resort will become part of its Autograph Collection, a rapidly growing exclusive portfolio of over 60 independent hotels in key locations across the globe. Regarded as the premier destination resort in The Bahamas and Caribbean, the 3,400 room Atlantis, Paradise Island will operate under a franchise agreement with Marriott and benefit from the company’s global sales and reservations organization, 45-million member Marriott Rewards loyalty program and Marriott.com which generates more than $9.6 billion in gross room bookings annually. Atlantis marks the collection’s first member resort in The Bahamas and will be the largest hotel in the portfolio. The property, owned by Brookfield Asset Management and independently managed, is expected to officially join the Autograph Collection in the fall.

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Prime Minister Perry Christie is attending the 35th Regular Meeting of the Conference of Heads of Government in Saint John’s, Antigua and Barbuda.
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