Owner of the Bahamian Brewing and Beverage Co, Jimmy Sands, announced at the opening of the company’s corporate offices April 18 that the company will start exports to Florida within two months.

At the event, State Minister for Finance Michael Halkitis congratulated the Sands family for its history in the beverage business.

He noted that Everett Sands started a store in Grand Bahama, as an entrepreneurial venture, and that company grew as Butler & Sands, to be the largest wine and spirits company in the country.

Halkitis said the progression from a small store, to the largest domestic distributer, to a manufacturer is a natural progression for a well planned company.

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Brazil’s growing interest in the funds industry of The Bahamas was evident this past Tuesday when more than 40 Brazilian fund managers and investors were in attendance for a Bahamas Breakfast Briefing organized by the Bahamas Financial Service Board (BFSB). The private forum was held in connection with the annual Brasil Investment Summit (BIS) taking place April 17-18 in Sao Paulo.

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Global consultancy KPMG has agreed to acquire European independent equity markets advisory firm Makinson Cowell, it was announced on Friday.

However, the financial details of the acquisition, which would be subject to regulatory approval, were not disclosed. Going forward, the business will be rebranded as KPMG Makinson Cowell.

It will be chaired by Tom Franks, global head of KPMG’s corporate finance business, with the equity and debt advisory elements continuing to be led by Bob Cowell, Howard Coates and Neill Thomas.

This is an excerpt from CFO World as it appeared on April 22, 2013. For updates or to read the current version of this post in its entirety, please click here.

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A Bahamian sloop in Elizabeth Harbour in George Town. (Click for enlargement/BIS Photo/Derek Smith)

The 60th National Family Island Regatta will be held in Elizabeth Harbour, Exuma, April 23-27.

Petherina Hanna, general manager of the Exuma Tourism Office, says the regatta is an important contributor to the local economy and the overall tourism product.

“This is a boost for the Exuma economy. You have the selling of food and other items from vendors at Regatta Park. You have car rentals, food stores and other businesses reaping the benefits. So economically, this is going to be an excellent boost,” she says.

“From a tourism perspective, the National Family Island Regatta celebrating 60 years is a significant celebration. We are excited about it.”

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Here follows remarks by Prime Minister Perry Christie at the ceremony to mark the opening of the Bahamas Bar Association‘s new office complex April 19, 2013:

I would like to acknowledge the presence of the Honourable Chief Justice, Sir Michael Barnett; the President of the Court of Appeal, the Honourable Madam Justice Anita Allen; the Honorable Attorney-General, Senator Allyson Maynard-Gibson, and the Minister of State for Legal Affairs, Damien Gomez MP; and the other distinguished guests gathered here this afternoon.

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A delegation of senior government officials from the Bahamas Maritime Authority (BMA) traveled to Rio de Janeiro earlier this month for face-to-face meetings with existing and potential clients in Brazil.

Pictured: (left to right) Peter John Goulandris, deputy chairman, Bahamas Maritime Authority; Vice Admiral Raul P Bittencourt, deputy executive secretary Coordinating Committee for IMO Matters, Brazilian Navy Directorate of Ports and Coasts; and Anthony Kikivarakis, chairman, Bahamas Maritime Authority.

The visit was designed to consolidate existing relationships and to seek new business opportunities in the fastest growing oil and gas offshore market in the world.
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Following a six-year acquisition program, the Government of the Bahamas has announced the signing of a Letter of Intent to acquire 9 vessels for the Royal Bahamas Defence Force and construction work for their naval bases.

The contract has been placed with Damen Shipyards Group, headquartered in Gorinchem, the Netherlands.

In announcing the contract, the Minister of National Security, the Hon. Dr. Bernard Nottage, stressed that his Government was determined to protect the security and economic well-being of the people of the Bahamas and this order was a powerful endorsement of this commitment.

Naval base construction works
The project will include the acquisition of a fleet of various vessel types and the upgrading and construction of three bases in the Bahamas. There will be additional dredging works to facilitate the new long range patrol craft and to provide the Defence Force with first class facilities.

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Director of sustainable tourism in the Ministry of Tourism Earlston McPhee says that The Bahamas should look to its rich history of agricultural development to help find new synergies with the tourism industry. Watch an address by McPhee here.
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The One Eleuthera Foundation and its partners are gearing up to host a weekend of events honoring Earth Day with the guiding theme: A Celebration of Earth & Partnerships.

Festivities will commence April 25 with the inaugural Eleuthera Business Outlook hosted by Eleuthera Chamber of Commerce held at the Leon Levy Native Plant Preserve, followed by a social event in collaboration with the Rotary Club of Eleuthera.

On April 27, the Cancer Society of Eleuthera’s Fun, Run, Walk will be immediately followed by an Open House at the Cancer Society’s Wellness Center to raise funding for and awareness of cancer. This event will be succeeded by an Earth Day festival and celebration of renovations at Ocean Hole Park located in Rock Sound, which will include planting trees, swimming, a Junkanoo rush out and local entertainment.

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Palm Cay sales and marketing director Zachary Bonczek announced this week that buyers who sign a contract for the purchase of a condo or home in the upscale waterfront community on Nassau’s southeastern shore by April 30 will get a special incentive: the developer will pay all stamp tax.

The standard practice is for buyers and sellers to share the Stamp Tax, each paying 5 per cent.

“In the past several weeks, since we unveiled the new development plans, including the near-readiness of Nassau’s largest marina in number of slips and the conversion of the clubhouse into a full restaurant later this year among other amenities, we have enjoyed tremendous interest from real estate agents, brokers and the public,” says Bonczek, who holds the real estate industry’s highest residential CRS certification.

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