The first female treasurer in the Public Treasury Department has been appointed deputy financial secretary of operations in the Ministry of Finance. Watch a ZNS Network news report here, along with the week’s other business and finance news.
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Bahamas-based Cloud Carib, a provider of managed cloud and ICT services to businesses and governments in the Caribbean region and Latin America, has reported its most successful year to date in December.

The company, which launched in 2011 and is based in Nassau, attracted a record number of new clients in 2017. Cloud Carib offers cloud technology expertise and helps organizations understand the risks and regulations necessary to leverage the cloud and accelerate digital transformation.

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Prime Minister Dr Hubert Minnis announced that his government has approved Oban Energies Oil Storage & Refinery Bahamas to commence development of an oil refinery and oil storage facility in Grand Bahama.

The project is expected to create 600 direct jobs, 1,000 indirect jobs during construction and an estimated project cost of over $4 billion.

The Prime Minister’s announcement came at the start of the sitting of Parliament February 14, 2018.

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Prime Minister Dr Hubert Minnis and members of the Cabinet toured New World One Bay Street – The Pointe development in downtown Nassau earlier this week.

Executive Vice-President/CCA South America Daniel Liu (top picture, centre) led the tour and updated members of the government on The Pointe’s construction progress.

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Over 400 accountants from the US, the UK, Canada and the Caribbean region are expected to arrive in Nassau in June for the 36th Institute of Chartered Accountants Caribbean’s (ICAC) Conference of Accountants.

The much-anticipated conclave, which is expected to stimulate the meetings incentives, conferences and events (MICE) aspect of tourism, will be held June 21-23 at Atlantis Paradise Island.

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While on Grand Bahama last week the Minister of Labour and Training Dion Foulkes met with representatives of shipping services firms Fowlco Ltd and Blue Parrot, which recently joined forces in the field of shipping, logistic and ship repair related services.

Both companies are making “an impressive mark in the marine industry.”

Minister Foulkes commended Fowlco founder and CEO Curtis Fowler and managing director Glennett Fowler for their confidence to invest heavily in the Grand Bahama economy at this time.

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West End, Grand Bahama, Feb. 06, 2018 (GLOBE NEWSWIRE) — A group of some 60 licensed skydivers and aviation enthusiasts are at the Old Bahama Bay on Grand Bahama Island this week for its first Bahama Beach Skydiving event. The historic event which features skydivers, jumping from parachutes amid 14,000 feet, takes place daily between 10 am and 5 pm – February 2 through 12 from the West End International Airport.

Organized by Sky’s The Limit, a skydiving company based in East Stroudsburg, Pennsylvania, the event is also sanctioned by The Bahamas Ministry of Tourism and Aviation (MOTA). Sponsors for the event include Old Bahama Bay Resort, United Parachute Technologies, Vigil, Aerodyne, Great Wolf Lodge, Sun Path and Shooting Star.

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Sandals Resorts wins eco-friendly accolades and an NFL post SuperBowl escape to Grand Isle tops the business news in The Bahamas this week.
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The Central Bank of The Bahamas Governor John Rolle gave welcome remarks and a presentation at a seminar held in Nassau earlier this week on the Relaxation of Exchange Controls in The Bahamas and Future Developments.

Read/Download:

•  Seminar on Exchange Control Liberalisation and Future Developments – welcome remarks
•  Relaxation of Exchange Controls in The Bahamas and Future Developments

Minister of Public Works has praised Bahamian companies for providing employment and opportunities for the local workforce while furthering the efforts of The Bahamas to move to green energy.

Minister of Public Works Desmond Bannister applauded the efforts of Bahamas Striping Group of Companies (BSGC) and commended Global Energy Solutions for vision and foresight in providing “viable” and “meaningful” opportunities for young people in skills acquisition, ownership and economic empowerment as the country moves to green energy.

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