Minister of Tourism Obie Wilchombe has announced that the ministry will undergo a major re-structuring aimed at developing different markets.
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ELEUTHERA, The Bahamas, Aug. 2, 2013 /PRNewswire/ — The Cove Express air package offered by luxury resort The Cove, Eleuthera is taking off with guests who want to arrive at the Caribbean paradise in just 45 minutes from South Florida.

Since launching a television advertising campaign in south Florida in late June,  30 charter flights are booked and flights for September and October are filling up. Cove, Eleuthera owner Sidney D. Torres, IV expanded the service to include a fleet of three 9-seat Cessna Caravans. Link: www.facebook.com

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President of Genting Americas Colin Ow says that over the next year to 18 months the standard of living for Bimini residents will greatly improve, as the resort and casino operator continues to develop its interests on the island.
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Gabrielle Turnquest has become the youngest person ever to pass the bar exam in England at the age of 18 (the typical age to accomplish this is 27). The American student was able to take the British exam because her parents hail from The Bahamas, where she hopes to eventually work.

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The Global Forum on Transparency and Exchange of Information for Tax Purposes  has released peer review reports assessing the tax  systems of 13 jurisdictions for information exchange. Later this year, most of these reviews will feed into the ratings assigned to 50 jurisdictions, backing G20 and Global Forum efforts to strengthen tax cooperation and stamp out cross-border tax evasion.

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A recent yacht excursion from Florida brought around 100 boat enthusiasts on 20 vessels to The Bahamas. Watch a Tourism Today report on the event here.
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[Note: Any reference to stocks and its underlying recommendation does not reflect the opinion of The Bahamas Investor or any of its contributors.]

NASSAU, The Bahamas, July 31, 2013 (GLOBE NEWSWIRE) — Steiner Leisure Limited (Nasdaq:STNR) today announced financial results for the second quarter ended June 30, 2013.

Steiner Leisure’s revenues for the second quarter ended June 30, 2013 increased 5.2% to $207.7 million from $197.5 million during the comparable quarter in 2012. Net income for the second quarter was $12.3 million compared with $14.1 million for the same quarter in 2012.

Earnings per share for the second quarter ended June 30, 2013 was $0.83 per share, compared with $0.92 per share for the comparable quarter in 2012. The earnings per share data are presented on a diluted basis.

Revenues for the six months ended June 30, 2013 increased 6.0% to $419.7 million from $396.0 million during the comparable six months in 2012. Net income for the six months ended June 30, 2013 was $25.0 million compared with $28.6 million for the same six months in 2012.

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Prime Minister Perry Christie revealed that his administration will use the upcoming summer break as an opportunity to look closer at ways to modernize the country’s gaming legislation.
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The July edition of Caribbean Monitor reported that The Bahamas received one of the highest scores in the Caribbean in Business Monitor International’s (BMI) proprietary Short Term Political Risk Ratings, touting the Government’s “stable footing and adherence to constitutional norms”.

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