The recently passed Commercial Enterprise Bill (CEB) will help to liberalize the Bahamian economy, Prime Minister Dr Hubert Minnis has said.

The Bill was passed in the House of Assembly on November 22, 2017 and in the Senate on December 4, 2017.

Addressing a reception for Bahamians and Friends of The Bahamas residing in Washington, DC, Northern Virginia and Maryland, including Baltimore December 16, Prime Minister Minnis encouraged the attendees, Bahamians throughout the diaspora, and individuals of Bahamian heritage who are not Bahamian citizens but have family ties to The Bahamas, to utilize the new CEB to invest in The Bahamas.

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The government of The Bahamas has undertaken a programme of long-term economic growth in order to reduce unemployment and to move the country’s economy along a path of “more dynamic and sustainable growth,” Prime Minister Dr Hubert Minnis said recently.

The Prime Minister made the comment at a Bahamas reception held in Washington, DC, December 16, 2017 following international credit rating agency Standard & Poor’s (S&P) affirmation of The Bahamas’ stable economic outlook.

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NEW YORK (Nation News) – The US-based credit ratings agency, Standard & Poor’s (S&P), has affirmed The Bahamas’ sovereign credit rating while continuing to ascribe a “stable” long-term outlook to the Caribbean country due to the new government’s “solid mandate to facilitate economic and debt stabilization”.

In its statement, S&P gave the Bahamas’ sovereign credit rating as BB+/B, saying it reflects its expectation of robust political institutions to “anchor fiscal consolidation” and higher, although still low, economic growth over the next one to two years — another positive sign for the Bahamas as it avoided blacklisting from the European Union.’

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This is an excerpt from Nation News as it appeared on December 18, 2017. For updates or to read the current version of this post in its entirety, please click here.

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In its Preliminary Overview of the Economies of Latin America and the Caribbean, the Economic Commission for Latin America and the Caribbean notes that The Bahamas economy has growth hit 1.2 per cent in 2017, as compared to 0.2 per cent the previous year.

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According to Deputy Prime Minister and Minister of Finance Peter Turnquest, the revised Investment Funds Bill creates an opportunity for growth-friendly legislative framework, unencumbered by unnecessary barriers to entry.

Turnquest made the comments during the opening address at an industry meeting held by the Securities Commission of The Bahamas. The meeting was held 7 December.

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Indications are that domestic economic activity stayed mildly positive during October, with the tourism sector showing signs of improvement, while construction sector output continued to be supported by foreign direct investment-related projects and to a lesser extent, ongoing post hurricane re-construction work, according to the latest Monthly Economic and Financial Developments from The Central Bank of The Bahamas.

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NASSAU, Bahamas, Dec. 07, 2017 (GLOBE NEWSWIRE) — Cloud Carib Ltd., a leading managed cloud services provider in the Caribbean and Latin American region, today announced it ranks 42nd among the world’s Top 100 cloud services providers (CSPs), according to Channel Futures’ seventh-annual Talkin’ Cloud (TC) 100 report.

Based on data from Channel Futures’ online survey, conducted between August to October 2017, the TC 100 list recognizes top cloud services providers (CSPs), including MSPs, hosting companies, cloud consultants and more. Rankings are based on annual cloud services revenue growth, and input from Channel Futures editors.

The full report is available now by visiting ChannelFutures.com.

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Deputy Prime Minister and Minister of Finance Peter Turnquest address the Securities Commission industry briefing on the Investment Funds Bill, 2017, at the Melia Baha Mar resort 7 December.

Download the address here.

The senate has passed a raft of bills that will see The Bahamas financial services sector enhance its compliance with international regulation.
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Atlantis Paradise Island resort’s top senior executives paid a courtesy call on the Minister of Labour Dion Foulkes 29 November 2017.

Minister Foulkes met with Atlantis’s new president and managing director Audrey Oswell who was accompanied by Atlantis senior vice president of human resources Karen Carey and Atlantis senior vice president of public affairs Ed Fields.

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