Here follows remarks by Prime Minister of the Commonwealth of The Bahamas Perry Christie at the Annual Business Meeting of the University of the West Indies (UWI) Council at the Melia Resort, Cable Beach April 25:

I wish to thank my Minister of Education, Science and Technology, the Hon. Jerome Fitzgerald, for extending the invitation to me to be with such an august body of academics, representatives of various University organizations, and, of course, policy makers, represented by regional Ministers of Education and their advisers, who have come to The Bahamas for the Annual Business Meeting of the University Council.

…continue >

One of The Bahamas’ leading wholesale and retail distributors is celebrating 50 years of operation this year and is planning an entire overhaul, including the renovation of the flagship outlet, offices and warehouses, and a rebranding, to take it into the next half century.

Milo B Butler & Sons Co Ltd, which was founded by the first Bahamian Governor General, Sir Milo Butler, is investing “a significant amount” in giving the company a new look, according to managing director and grandson of Sir Milo, Franklyn Butler II.

Construction, which began this month, will include renovation of the company’s offices, warehouse space and retail store, Butler’s Bargain Mart. The company hopes to complete the work by early 2015 and will also introduce a new logo designed by US firm How Creative.

…continue >

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

April 28, 2014 (Proactive Investors) — Grand Bahama Group, an associate of TXO (LON:TXO), has won what it describes as a significant contract for waste oil treatment in the Bahamas.

The new contract is for the remediation of used oils from three storage “ponds” in a major oil storage and transhipment terminal on Grand Bahama.

An initial 43,000 barrels taken from the first pond is being held in a tank and will be processed first.

Remediated oil collected from the tank will be sold to a US based refinery at market value, with GBG’s subsidiary being entitled to a “material proportion” of the proceeds of sale.

This is an excerpt from Proactive Investors as it appeared on April 28, 2014. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >

Nassau, Bahamas (PRWEB) – HG Christie Ltd. CEO, John Christie, and Douglas Johnson, Managing Director, CBRE Auction Services, announce that the Big Grand Cay Archipelago Estate located in the northern Bahamas will be sold at auction May 14th, 2014. The ±277-acre opportunity includes Big Grand Cay, Bakers Cay, Sandy Cay, Mermaid Cay, Rat (Seahorse) Cay, Spongers Cay, Felix Cay, an unnamed cay and three small rocks. Big Grand Cay features a 4-bedroom and 5-bathroom vacation home with saltwater swimming pool, expansive decks overlooking tropical beaches, a deep-water dock, an ocean villa, inland villa and caretaker’s quarters. The exclusive private Bahamian estate has hosted many notable guests including President Richard Nixon and his family. The online auction will be held on May 14th, 2014. The suggested opening bid is $1,950,000.

…continue >

Here follows the address by Prime Minister and Minister of Finance Perry Christie at The Eleuthera Business Outlook conference April 24:

Good morning,

…continue >

Officials from key government ministries and corporations began meeting with stakeholders from the private sector April 23 during the start of a two-day workshop on cyber security that is expected to lead to the development of a National Cyber Security Strategy for The Bahamas.

Minister of National Security Dr Bernard Nottage, said the government of The Bahamas recognizes information communications technology as one of the most important enablers for the achievement of economic and social development.

He said the government has embarked upon an initiative to articulate a National Cyber Security Strategy, which will include the strengthening of cyber-crime legislation and the establishment of a National Computer Security Cyber Incident Response Team.

The government, Nottage said, further realizes that enhanced cyber security and improved user confidence for trade and commerce on the Internet, play a pivotal role in stimulating economic activity.

…continue >

Former Minister of Finance and Central Bank Governor James Smith has been named non-executive deputy chairman of the board of Bahamas Petroleum Company.
…continue >

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

DALLAS, April 24, 2014 /PRNewswire/ — Southwest Airlines Co. (NYSE: LUV) (the “Company”) today reported its first quarter 2014 results:

• Record first quarter net income, excluding special items*, of $126 million, or $.18 per diluted share, compared to first quarter 2013 net income, excluding special items, of $53 million, or $.07 per diluted share.  This exceeded the First Call consensus estimate of $.16 per diluted share.
• Record first quarter net income of $152 million, or $.22 per diluted share, which included $26 million (net) of favorable special items, compared to net income of $59 million, or $.08 per diluted share, in first quarter 2013, which included $6 million (net) of favorable special items.
• Record first quarter operating income of $215 million; $242 million excluding special items.
• Return on invested capital*, before taxes and excluding special items (ROIC), for the 12 months ended March 31, 2014, of 14.2 percent, as compared to 8.3 percent for the 12 months ended March 31, 2013.

…continue >

MIAMI, FL (April 2014) – The Caribbean Hotel & Tourism Association Education Foundation (CHTAEF) has announced that $115,612 was raised for its scholarship fund for Caribbean hospitality students and professionals at its annual silent auction held at The New York Times Travel Show last month.

More than 125 Caribbean hotels donated stays for the annual event, held at the largest consumer travel show in the United States. Funds raised at the auction are used to provide scholarships to Caribbean nationals pursuing higher education or professional development in hospitality and tourism.

…continue >

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

LONDON (Alliance News) – Bahamas Petroleum Co PLC Thursday announced changes to its board as developments in oil drilling legislation in the country and increased activity in ongoing farm-out discussions help the company.

Bahamas Petroleum Co shares have more than doubled early Thursday on the news, quoted at 3.00 pence per share, up 1.51p, putting it atop the AIM ALL-Share risers.

The oil and gas exploration company said it has appointed former BP PLC director Bill Schrader as its non-executive chairman and Bahamas Senator James Smith as its non-executive deputy chairman.

…continue with our excerpt >

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

Go to the source of this post >