April 19, 2013 (Bloomberg/Businessweek) — Bahamas Petroleum Co. (BPC), the only explorer searching for oil off the Atlantic archipelago, expects to find crude even after efforts off nearby Cuba failed.

A seismic study by Bahamas Petroleum, or BPC, showed that the Great Bahama Bank may have oil at shallower water depths, making it easier to drill, and a layer of salt keeping the crude in place, Chief Executive Officer Simon Potter said in London.

BPC is looking for a partner to raise at least $100 million to drill the country’s first exploration well in about 27 years. It holds five licenses covering more than 4 billion barrels of potential oil resources and is seeking three more with Statoil ASA. (STL) The nation in March allowed exploration to go ahead on the condition a referendum be called before the first oil is pumped.

This is an excerpt from Businessweek as it appeared on April 19, 2013. For updates or to read the current version of this post in its entirety, please click here.

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As the Bahaman economy’s second-largest contributor after tourism, the financial services sector boasts 277 licensed banks and trust companies attracting offshore business from mainly Canadian, Swiss and US institutions. Supervised by the Central Bank of The Bahamas, the sector offers international business companies a vast range of funds and investment options. No taxes are levied on personal income, capital gains, corporate earnings, sales, inheritance or dividends.
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This is an excerpt from China Daily as it appeared on April 18, 2013. For updates or to read the current version of this post in its entirety, please click here.

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Carnival Cruise Lines Corp and Plc will be investing $300 million to enhance the emergency power capabilities of its ships, new fire safety technology, and conduct other upgrades across its entire fleet.

Caribbean Export Development Agency, in collaboration with the Caribbean Association of Investment Promotion Agency (CAIPA), will be hosting April 17-19 a regional training session for Investment Promotion Agencies within the Caribbean on investor facilitation entitled: Attracting FDI through Good Investment Facilitation.

The three-day hands-on intensive training session will be facilitated by the Investment Climate Section of the World Bank.

More than 30 representatives from 18 Caribbean countries will be participating in the training that will be held in Kingston, Jamaica.

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Frederick Mitchell (left), MP Minister of Foreign Affairs and Immigration of The Bahamas, with Speaker of the House, Michael Madigan, April 16, 2013. (BIS Photo)

Address by Frederick Mitchell, MP Minister of Foreign Affairs and Immigration of The Bahamas, to the Illinois House of Representatives April 16, 2013:

Speaker of the House, Michael Madigan and your staff, Chair of the Illinois Legislative Black Caucus – Representative William Davis and other Members of the Illinois House of Representatives, Ladies and Gentleman.

I wish, at the outset, to thank you for your invitation to address this august body and for your warm hospitality during my stay in this charming and historic city of Springfield.
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NASSAU, The Bahamas, April 17, 2013 /PRNewswire/ — Secure Hosting, the only PCI DSS Compliant Hosting provider in the Caribbean and Latin America, has joined forces with VMWare, the industry’s leading virtualization provider. The partnership means that Secure Hosting has achieved certification on both the Solution Provider and Service Provider levels with VMWare.

VMWare provides server virtualization for hosting providers and companies looking to improve processing power, reduce maintenance times and revolutionize the reliability of their systems. Virtualization is a revolutionary technology that maximizes a processor’s abilities by allowing multiple applications to be run at one time by the same processor. This technology enables Secure Hosting to keep costs down while providing fully-redundant, enterprise grade PCI-Compliant secure cloud hosting services with two factor authentication and VPN connection, as well as clustered hosting with 24/7 monitoring and support.

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With its turquoise-blue seas, magnificent resorts, signature golf courses and tropical climate, tourists flock to The Bahamas in droves every year, but as savvy investors know, there is much more to this archipelago than white sand beaches.

As well as being close to major North American and Latin American financial centers, and only 50 miles from the US coastline, The Bahamas has enjoyed a stable democracy since 1729. It is in the same time zone as New York and boasts a highly trained, English-speaking workforce. Celebrated as a low-tax jurisdiction, it has a sophisticated infrastructure and proactive incentives for investment.

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This is an excerpt from China Daily as it appeared on April 17, 2013. For updates or to read the current version of this post in its entirety, please click here.

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NASSAU, Bahamas (BUSINESS WIRE) — John Watling’s Distillery – JOHN WATLING’S rum, the “Spirit of The Bahamas,” announced today that it has opened its doors for complimentary tours at its home, the Buena Vista Estate, in Downtown Nassau. The historic Estate, founded in 1789 and overlooking the harbour, is the site where Bahamians hand-craft JOHN WATLING’S small-batch Pale, Amber and Buena Vista rums. At the Estate, John Watling’s features a production and museum-like tour, shopping and signature Bahamian cocktails at its Red Turtle Tavern. Within walking distance from the cruise ship port, John Watling’s Distillery is located on Delancy Street and is open from 10am-6pm, seven days a week.
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Minister of Foreign Affairs and Immigration Fred Mitchell is in Springfield, Illinois today on an official state visit.

The broad objectives of the visit are to strengthen diplomatic relations and bilateral cooperation between The Bahamas and the state of Illinois, given its “strengths in the sectors of manufacturing, agriculture and oil production, which are of interest to The Bahamas and our plan for future development,” said Minister Mitchell.

On April 16, the Minister is scheduled to address both the House of Representatives and the Senate in separate sessions. Later, Mitchell is scheduled to hold meetings with Governor of Illinois Patrick Quinn.

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A 12-member team from the Ministry of the Environment are currently in Grand Bahama conducting a site inspection of the Bahamas Oil Refining Company (BORCO) facilities owned by Buckeye Partners PL (NYSE:BPL).

The team was joined by officials from the Department of Environmental Health Services, the Royal Bahamas Police Force and the Police Fire Department, as well as environmental personnel from the Grand Bahama Port Authority (GBPA).

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