National budget allocations top the agenda in the business in The Bahamas. Watch a ZNS Network news segment here.
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Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson welcomed representatives of GIBC Digital to Grand Bahama May 3.

GIBC provides digital solutions in automation, data intelligence, cyber and fraud, customer experience as well as regulation and compliance. The US company is looking to invest a minimum of $2.5 million this year to establish an office in Grand Bahama.

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International Financial Corp (IFC), a member of the World Bank Group, has announced the appointment of Gabriel Goldschmidt as director for Latin America and the Caribbean.

Goldschmidt will oversee IFC’s operations in the region, with a focus on strategic priorities such as promoting innovation through technology, tackling climate change, developing capital markets, and supporting infrastructure.

He heads investment and advisory services across 27 countries, where IFC has an active investment portfolio of $18 billion and advisory programmes worth $125 million. IFC staff focusing on Latin American and the Caribbean are based in 13 regional offices, in addition to Washington, DC.

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US customers will gain new access to Eleuthera and Marsh Harbour in The Bahamas from Charlotte Douglas International Airport in North Carolina, with year-round weekly flights from December.

American Airlines will also be adding a new seasonal route between Chicago O’Hare International Airport and the Lynden Pindling International Airport in Nassau, set to run from December to May.

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The government seeks to tap into the talent pool of the Bahamian diaspora for further growth and development of The Bahamas by the creation of a database into which Bahamians abroad could submit their names and areas of profession.

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Minister of Works Desmond Bannister announced infrastructure upgrades to improve delivery of services for Eleuthera, Spanish Wells, and Harbour Island at the 6th Eleuthera Business Outlook, April 26, 2018 at Valentine’s Resort and Marina in Harbour Island.

Bannister revealed the government’s plans to assist in “creating a world class Eleuthera, Harbour Island and Spanish Wells”.

Minister Bannister said it is anticipated that the initiatives will foster growth and development in the Family Island community, and the private sector will take advantage of the opportunity to invest in the growth of the local economy.

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NEW YORK, May 2, 2018 /PRNewswire/ — GIBC Digital, a global technology firm, announced today that it is opening an office in Freeport, Grand Bahama.

Headquartered in New York, the company also has offices in Boston, Stamford, Tampa, London, Hong Kong, and Singapore. The Freeport office will serve as the company’s global training headquarters and become the location for its new data and artificial intelligence center.

GIBC Digital will establish the office with an initial $2.5 million investment. The investment will enable the hire of 50 people to do both local and regional work focused on automation, cyber security, and data intelligence. In addition to this direct investment, the company will invest another $1 million of its resources into training its new employees.

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Increased holiday-related travel contributed to gains in tourism output, while foreign investment projects buoyed construction sector activity.

Government’s budgetary operations featured a reduction in the fiscal deficit over the first eight months of FY2017/18, led by a decline in capital spending and an increase in tax revenues.

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A new partnership with a French airline is set to boost the number of visitors from France. Watch interviews with French tour operators working with The Bahamas here.
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The Central Bank of The Bahamas has released its 2017 Annual Report, which contains a summary of the bank’s operations over the year, an analysis of regulatory developments affecting the financial sector and a review of monetary policy, as well as payment systems developments.

The report also provides an examination of the economic and financial environment, both internationally and in The Bahamas during 2017, and presents a comprehensive analysis of the Bbank’s Statement of Accounts for the year ending December 31, 2017.

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