NEW YORK, May 20, 2014 /PRNewswire/ — New York-based luxury real estate auction firm Concierge Auctions is pleased to announce the pending sale of Innocence Island, the largest privately held island in The Bahamas, and The Boat House and Ship Owner, two residences that rest within the walls of the exclusive, five-star Grand Bahama Yacht Club in Freeport, Grand Bahama Island.

The auction, held in cooperation with George Damianos of Damianos Sotheby’s International Realty, who represented the seller of Innocence Island, and Lamond and Robyn Davis of Sterling Bahamas Realty, who represented the seller of The Boat House and Ship Owner, brought together a mix of high-profile bidders from around the world.

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Minister of Tourism Obie Wilchombe has confirmed the appointment of Joy Ann Jibrilu as the new director general of tourism, replacing 30-year tourism veteran, David Johnson, who is set to become the new chief executive officer of the Hotel Corporation of The Bahamas and oversee its transition to the Tourism Development Corporation.

The organizational restructuring comes amid an aggressive marketing campaign to reposition the Ministry to be more responsive to increased global demands and changing trends within the global tourism market to increase airlift, inventory, new tourism plants and room nights in The Bahamas.

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Pictured: Kenneth Morgan, Rawlinson & Hunter Ltd, British Virgin Islands speaking at the Society of Trust and Estate Practitioners (STEP) CC14 Caribbean Conference. (Photo Harry Cutting/©Dupuch)

Against a backdrop of increased regulation and a greater burden of compliance, building client relationships in the financial services market has become more difficult according to Kenneth Morgan, chief executive of law firm Rawlinson & Hunter.

Speaking at the Society of Trust and Estate Practitioners (STEP) Caribbean Conference this week, Morgan said: “We are in a difficult and dangerous world today. Clients need a new service from their professional advisors.”

He advised practitioners to be available to clients, to deal directly with them where possible and to keep in touch face to face whenever possible.

He also emphasized the importance of good staff to help sustain the relationship saying: ‘It is essential to have good support people who have client empathy.”

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Dubai, United Arab Emirates–Fred Mitchell, Minister of Foreign Affairs of The Bahamas, and his counterparts from St Vincent, Barbados, St Lucia, Grenada, as well as the Environment Minister of Trinidad and the ambassador for Guyana visited the Ministry of International Cooperation and Development of the United Arab Emirates May 7.

The delegation met with the UAE’s Minister of State for International Cooperation Reem Al Hashimy.

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Ultrapetrol Bahamas (NASDAQ:ULTR) released its earnings data on Wednesday. The company reported ($0.03) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.02 by $0.05, Stock Ratings Network.com reports. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $69.46 million.

Shares of Ultrapetrol Bahamas (NASDAQ:ULTR) traded down 1.02% on Wednesday, hitting $2.92. The stock had a trading volume of 50,328 shares. Ultrapetrol Bahamas has a 52-week low of $2.22 and a 52-week high of $3.98. The stock has a 50-day moving average of $2.97 and a 200-day moving average of $3.34. The company has a market cap of $410.0 million and a price-to-earnings ratio of 59.00.

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

This is an excerpt from The Legacy as it appeared on May 15, 2014. For updates or to read the current version of this post in its entirety, please click here.

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Southwest Airlines, the US airline that launched a low-cost air travel revolution four decades ago, is expanding its horizons for the first time to international service.

The largest carrier of domestic passengers in the United States began selling seats on its first-ever scheduled international flights to three Caribbean beach destinations – Aruba, Nassau in The Bahamas, and Montego Bay, Jamaica.

Beginning on July 1, Southwest will operate daily, non-stop flights from Atlanta, the Baltimore/Washington airport, and Orlando to those destinations.

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The $1.3-billion Albany mixed amenity resort being developed on New Providence is entering the next phase of construction, according to senior vice president at Albany Dr Tyrone McKenzie.
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