The Bahamas’ Financial Transactions Reporting Act, 2018 (FTRA), will meet all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force (FATF), Attorney-General and Minister of Legal Affairs Carl W. Bethel said Wednesday.

Addressing a stakeholder meeting with industry regulators and members of the Bahamas Bar Association, Attorney-General Bethel said the Act will, in a broad sense, be the “heart of the system of compliance and due diligence that will henceforth be the standard of conduct to be expected of all participants in financial services.”

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Delegates from National Tourist Offices, government agencies and other trade representatives, will explore winning sales techniques during the Caribbean Tourism Industry Workshop as part of Caribbean Week New York 2018 (#CWNY18).

The event will take place June 4, 2018, from 9am-noon at the Wyndham New Yorker Hotel (481 Eighth Avenue).

Facilitated by Steve Lang, CEO of Mon Cheri Bridals LLC, and themed “Employing Successful Sales Strategies,” the event will help attendees identify their company’s sales style and learn when and how to modify it to become effective converting sales to profits.

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Norinvest Holding Sa (NIH) has announced that its fully-owned subsidiary Banque Cramer & Cie SA (BCC) has sold a majority interest (85 per cent) in its fully-owned subsidiary Private Investment Bank Ltd (PIBL), an independent and fully-licensed bank with registered office in Nassau, The Bahamas, to IPG Securities Asset Management Ltd, Nassau, a fully-owned subsidiary of IPG Securities Asset Management SA, Geneva (IPG).

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Pictured: Prime Minister Dr Hubert Minnis addresses maritime industry stakeholders at the official naming ceremony of two tugboats at Prince George Dock May 14, 2018. (BIS Photos/Peter Ramsay)

Prime Minister Dr Hubert Minnis has extolled the potential of the maritime sector as another way to diversify the economy. He made the observation during the Official Christening Ceremony at Prince George Dock earlier this week of two state-of-the art, $15 million vessels. The tugboats are part of a public/private partnership to improve maritime services.

“The maritime sector holds great promise for The Bahamas, and is another sector for increased diversification,” the Prime Minister said. “There are approximately 5,000 jobs Bahamians can be trained for in the international maritime industry.”

The state-of-the art vessels valued at $15 million, will complement the government’s tugboats fleet in rendering service to cruise ships coming in port and emergency services to smaller vessels.

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While progress has been made in economically restoring Grand Bahama, there is still a lot of work to be done, said Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson on the first anniversary of the current Dr Hubert Minnis administration.

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Bahamians were well represented at a recent regional management consulting conference held by the Caribbean Institute of Certified Management Consultants (CICMC).

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Pictured: Deputy Prime Minister and Minister of Finance Peter Turnquest announces that Cabinet of The Bahamas last week approved the Fiscal Responsibility Bill, 2018 for public consultation at a press conference at the Ministry of Finance May 14, 2018. (BIS Photo/Derek Smith)

The Deputy Prime Minister and Minister of Finance Peter Turnquest has announced that the Cabinet of The Bahamas last week approved the Fiscal Responsibility Bill, 2018 for public consultation.

“Today, we present that Bill to the Bahamian people. The Bill sets guiding principles and rules for the way the government spends and accounts for the people’s money,” DPM Turnquest said at a press conference at the Ministry of Finance May 14, 2018.

“Instead of relying on government to exercise fiscal discipline by choice, the new legislation constrains spending by the force of law.”

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Plans for The Central Bank of The Bahamas‘ new facility were unveiled on Friday, as part of its Nassau Reimagined project which aims to upgrade and rejuvenate the downtown area.

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Migration, climate change and border issues were central concerns addressed by CARICOM‘s Council for Foreign and Community Relations (COFCOR) during its two days of meetings in Nassau, May 7-8, as part of the 21st conclave, at the British Colonial Hilton.

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The Caribbean Tourism Organization (CTO) has announced the finalists for the Caribbean Tourism Industry Awards, an expanded media awards programme which will, for the first time, feature categories for social media influencers and campaigns in recognition of the changing media landscape and increasing relevance of non-traditional media.

A distinguished panel of media and industry judges were enthusiastic about the quality of work represented at this year’s event.

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