A new $6-million marina is slated to open mid-June in the heart of historic Nassau.

Named Bay Street Marina, the 90-slip facility capable of handling vessels up to 150 ft in length is located on Nassau harbour.

There is a floating dock for temporary tie-ups for people arriving by boat to visit the nearby Green Parrot and Luciano’s of Chicago restaurants.

The multimillion investment is a joint venture between the Bethell and Symonette families, who say it is reaffirmation of their commitment to the revitalization of historic Nassau.

“With shipping moved from downtown Nassau, you can feel Nassau coming back to life,” said John F Bethell, president of Bethell Estates.

“We believe that this marina is the first in what we hope will be a series of investments over many years that will help Nassau realize her full potential as a vibrant, living city where people want to be to work, live and play.”

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The National Accounts Section of the Department of Statistics announced at the end of last week the release of the estimates of gross domestic product (GDP) for the period 2008 to 2012.

The 2012 figures are preliminary, 2011 are provisional, 2010 and 2009 are revised and the 2008 are final until the next historical revision.

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The Bahamas will be front-and-centre at the Brasil Investment Summit 2013 (BIS) which takes place April 17-18 in Sao Paulo. With the Bahamas Financial Services Board (BFSB) as the event’s Gold sponsor and its CEO and Executive Director, Aliya Allen, as chairperson for Day 1 of the conference, The Bahamas certainly will have the attention of the nearly 400 domestic and international funds, investors, traders and corporations in attendance to discuss key trends and investment strategies in the region.

BIS is Brazil’s largest and premier investment conference attracting leading international and Brazilian funds and investors to discuss developments and trends in market regulation, fund strategy, trading and asset allocation. BFSB has participated in the event from its inception as a Gold Sponsor, Exhibitor and Presenter.

This is an excerpt from Bahamas Financial Services Board as it appeared on April 9, 2013. For updates or to read the current version of this post in its entirety, please click here.

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The Independence Celebrations Committee have started a weekly series of updates on plans for the 40th anniversary of independence celebrations.
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Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of Assembly, 18th March, 2013, the Government of The Commonwealth of The Bahamas invites applications for Bahamas Registered Stock totalling B$50,000,000.00. The Stock will be available in a range of maturity dates; the earliest being repayable in 2031 and the latest in 2033.

Applications will be received by The Banking Department beginning at 9:30 am on 8th April, 2013 and will close at 3:00 pm on 15th April, 2013. Allocations will commence at 9:30 a.m. on 16th April, 2013 and will cease at 3:00p.m. on 17th April, 2013.

If the total subscriptions exceed the sum of B$50,000,000.00 (Nominal) partial allotment will be made to subscribers, and a proportionate refund will be made as soon as possible after allotment. No interest will be paid on amounts so refunded.

Click here to download a copy of the prospectus.

Callenders & Co partner Simone Morgan-Gomez has led a series of workshops for leading accountants following changes that took effect late last year in the Companies (Winding Up Amendment) Act and other legislation.

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NASSAU, Bahamas. April/2013 – Inclusive growth that generates jobs and opportunities for all citizens in Bahamas was at the center of a high-level national conference hosted today by the country at the Super Club Breezes in Nassau. The conference is part of the Caribbean Growth Forum (CGF), a two-year regional platform for dialogue to foster higher levels of economic growth with opportunities for all in the Caribbean.

The CGF is a partnership between the World Bank, the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB) and Compete Caribbean, with support from the United Kingdom Department for International Development (DFID) and the Canadian International Development Agency (CIDA). The CGF builds on existing partnerships and involves stakeholders from the public and private sectors, academia and civil society, as well as the Caribbean Diaspora.

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The National Accounts Section of the Department of Statistics has released the estimates of the Gross Domestic Product (GDP) for 2012.

According to the preliminary results, the GDP in Current Prices for 2012 had a positive growth of 3.5%, while GDP in Constant Prices grew at 1.83%. The current measure utilizes current price levels and currency values, without factoring in inflation and determines the total value of the products and services produced in a particular year. The Constant Prices measures the effects of inflation and is more useful for studying trends in economic growth. These preliminary figures will be revised as more data become available.

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The Bahamas Financial Services Board (BFSB) has engaged Charles Russell LLP, a highly respected international law firm based in London, on a project designed to assist The Bahamas – at private and public sector levels – to prepare for the onset of the European Union’s Alternative Investment Fund Managers Directive (AIFMD). The introduction of the Directive will impact the fund distribution process in Europe for providers located outside the EU.

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Security, tracking and monitoring systems supplier Global Ocean Security Technologies will provide live tracking of The A-Team on board the Nor-Tech 392 Super Fish as they cruise through the Bahamas in the second annual Hang’em High Challenge in Hawk’s Nest.

Live tracking of the team’s location at 30-minute intervals will be broadcast April 4-12 at the GOST Nav-Tracker website, the company announced.

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