The domestic economy maintained its mildly positive growth trajectory in July, according to The Central Bank of The Bahamas‘ latest Monthly Economic and Financial Developments report. Gains in the tourism sector were underpinned by improvements in the major source markets, increased high-end room capacity, and an expansion in airlift.

In addition, foreign investment projects continued to support activity in the construction sector.

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Turkish Airlines and Nassau Flight Services held a meeting with Minister of Tourism Dionisio D’Aguilar August 30, 2018 at the Ministry’s offices.

Grand Bahama took another step towards the goal of becoming a tech hub with the graduation of some 50 students of information and communication technology (ICT) in a ceremony, August 30, 2018 at Pelican Bay resort.

The ICT training was made possible by a partnership between the government of The Bahamas and Bahamas Technical and Vocational Institute (BTVI). It not only offered the young participants the opportunity to receive training and earn ICT certification completely free of charge, but the students were also paid a stipend after six-week sessions. The completion of the first phase has given the participants nine college credits.

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Nassau Airport Development Co (NAD), the management company responsible for Lynden Pindling International Airport (LPIA), today reported the busiest summer in the nation’s history for the Bahamas’ leading airport.

According to NAD chief executive officer Vernice Walkine, a combination of factors contributed to the strong performance.

Among them, powerful marketing campaigns, deepening partnerships with airlines and a nearly 30 per cent increase in arrivals from Canada through July.

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The Central Bank of The Bahamas has today released revised Guidelines on the Prevention of Money Laundering & Countering the Financing of Terrorism (the AML/CFT Guidelines).

The revised AML/CFT Guidelines take effect immediately and outline the Bank’s mandatory minimum customer due diligence requirements for all banks, trust companies, co-operative credit unions, non-bank money transmission businesses and payment service providers (collectively referred to as Supervised Financial Institutions (SFIs)).

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Pictured: Minister of Tourism & Aviation Dionisio D’Aguilar announces the workshop at the Bahamas Development Bank, August 30. (BIS Photo/Kemuel Stubbs)

Officials at the Ministry of Tourism and Aviation (MOTA) and the Bahamas Development Bank have joined forces to host a two-day workshop aimed at spurring greater entrepreneurial opportunities in the tourism-related business sector.

The workshop will take place September 13-14 at the British Colonial Hilton. Presenters will include Janet Johnson, director, business development, MOTA; Patrick Rahming, CEO, Patrick Rahming & Associates; Brendan Foulkes, lecturer, University of The Bahamas; Davinia Blair, executive-director, Small Business Development Centre; Justin Sturrup, deputy managing director, Bahamas Development Bank; Quintin Curry, business consultant and Craig Mortimer Sr, manager, Tours & Transportation Department, MOTA.

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Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson said both foreign and local investors continue to display confidence in the Grand Bahamian economy by starting new businesses or expanding existing ones.

Minister Thompson, who was the keynote speaker at the groundbreaking ceremony for Elnet Maritime Centre August 27, 2018, noted that chief executive officer of Elnet Maritime Ltd, Elbert Hepburn is an example of what the spirit of Grand Bahama represents.

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NASSAU, Bahamas, August 24, 2018 (Central Bank) – Following the release of the Guidance Note on Streamlined Requirements for Account Opening, Provision of Financial Services and Customer Identification in June 2018, the Central Bank is now affirming policy amendments affecting non-residents use of Bahamian dollar deposit accounts.

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Prime Minister Dr Hubert Minnis has said that he will outline details pertaining to the sale of the Grand Lucayan resort when the House of Assembly resumes in September after its summer break.

He made the announcement during a press conference following a tour of the property August 22, 2018 during which he also announced that the government signed a $65 million sales agreement with Hutchison Whampoa and that a $10 million deposit was made.

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Prime Minister Dr Hubert Minnis and a delegation of Cabinet Ministers and government officials took a tour of the Grand Lucayan resort on Grand Bahama this week to view the facilities.

In their assessment, they also visited Port Lucaya Marketplace to view business establishments, meet straw vendors and taxi drivers.