With the appointment of a new operator, the country’s premier cruise port in the capital is set to have a major overhaul.

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The Securities Commission of The Bahamas has announced that it has entered a Memorandum of Understanding (MoU) under the Alternative Investment Fund Managers Directive (AIFMD) with BaFin, the German Federal Financial Supervisory Authority.

Chairman of the commission Robert Lotmore (pictured), says: “Cooperation with other securities regulators remains a strategic priority for the Commission. It is a critical aspect of good securities regulation, particularly for international financial centres, and the Commission intends to continue to demonstrate regional leadership in this area.”

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Global Ports Holding (GPH) has announced that it has been selected as the winning bidder for the redevelopment and operation of Prince George Wharf, the main cruise port in Nassau, The Bahamas.

“This project marks the beginning of a new Bahamian success story,” said Mehmet Kutman, chairman of GPH.

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Prime Minister Dr Hubert Minnis will travel to St. Kitts today to attend the 30th Inter-Sessional Meeting of the Conference of the Heads of Government Meeting of the Caribbean Community (CARICOM).

The Prime Minister will lead a delegation of senior government officials to the two-day meeting, including Minister of Foreign Affairs Darren Henfield and High Commissioner of The Bahamas to CARICOM Reuben Rahming.

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The government of The Bahamas has signed a $12 million bilateral agreement with the government of the People’s Republic of China.

The signing ceremony took place February 21, 2019 at the Ministry of Foreign Affairs, and is a commitment from China to provide funds for development projects in the country.

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The Baha Mar resort on Cable Beach has reported record occupancy rates so far for 2019. Watch an interview with Baha Mar president Graeme Davis here.
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Nassau Airport Development Co (NAD), which operates Lynden Pindling International Airport (LPIA), has released its 2018 passenger figures, revealing a significant jump in traffic at the country’s premier airport.

Last year, the airport served 3.7 million passengers, an increase of 11 per cent over calendar year 2017. This is the highest year-over-year increase and the largest number of passengers recorded since 2007.

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Pictured: Minister Thompson delivers the keynote speech February 21. (BIS Photo/Andrew Miller)

Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson said yesterday that Grand Bahama is entering a critical period and local businesses should seize the opportunities presented. He made the comments during at the official opening of the Grand Bahama Business Outlook.

The 21st annual Grand Bahama Business Outlook 2019 is being held under the theme “Connecting Resources, Maximizing Opportunities, Transforming Grand Bahama” at the Grand Lucayan Convention Centre.

“This is a critical time for us in Grand Bahama. I dare say, it is one of the most important times in our generation.”

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The Caribbean Hotel and Tourism Association is hosting its annual flagship Marketplace conference at Baha Mar in The Bahamas January 21-23, 2020.
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Deputy Prime Minister and Minister of Finance Peter Turnquest has noted that he is encouraged by the February 2019 credit opinion published by Moody’s, which reclassified The Bahamas’ outlook from ‘Negative’ to ‘Stable’.

He indicated that the evaluation represents an “independent and impartial assessment of the country’s progress on what had been a dire and untenable fiscal situation”.

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