The Bahamas Investor

...d experience of Blue Parrot under the Fowlco Ltd corporate umbrella,” said Minister Foulkes. The Labour Minister added that “the government is pleased that Fowlco and Blue Parrot are committed to a major technical training programme to ensure more Bahamians become qualified to take advantage of the tremendous maritime career opportunities.” Blue Parrot’s technical advisor Alberto Gonzalez said: “We enjoy a great business relationship with Fowlco,......

...with Sir Sidney Poitier (centre), at a dinner in Sir Sidney’s honour, with Minister of Foreign Affairs and the Public Service Fred Mitchell. (Photo Courtesy BIS) The event was attended by the Minister of Foreign Affairs and Immigration Fred Mitchell, former basketball player and actor Rick Fox, former Los Angeles Lakers legends John Salley and Bahamian Mychal Thompson, as well as Deputy Prime Minister and Minister of Works and Urban Development Ph......

...other costs will be reduced throughout the supply chain. In light of this Minister Davis said an incentive regime for the management company would be introduced. “This regime prescribes a significant portion of the management company’s remuneration based on achieving service level targets related to fuel efficiency, rationalisation of cost, and significant improvements in reliability, that is, fewer and shorter power cuts.” Effectively, the more......

...ints of the markets, whilst still trading. Another trader with a soft spot for island living is Diane Ryan, who began day trading in 1996 and spent several years living in Nassau, while playing the market. “The advantages of trading from The Bahamas as opposed to from the US are that one minute you can be basking in the sun, swimming, sailing or whatever and the next you can be inside making fast and easy money,” she says. “The ability to play the......

...0. On the trip to Freeport, Shark was accompanied by Ryan Pinder, Minister for Financial Services; Rhoda Jackson, ambassador and permanent representative of The Bahamas to the United Nations office and other international organizations in Geneva, Switzerland; June Young Lee, WTO legal advisor; and Keva Bain, acting director of trade and industry. The Bahamas is in the process of negotiating accession to the WTO primarily to secure favourable marke......

...es centre.” “The Bahamas’ forward-thinking legislation enables innovative and flexible products that allow the financial services industry to provide a higher level of expertise to a family’s international planning portfolio,” says Ryan Pinder, chief legal officer and head of wealth management, Deltec International Group and former Minister of Financial Services. Established in Nassau in 1959, Deltec is one of the oldest private bank and trust gro......

...Minister of Financial Services Ryan Pinder views the “A” rating for the Securities Commission of the Bahamas as monumental, as it follows the recent passage of the Securities Industries Act. He adds that The Bahamas is the first country in the region with such a rating.......

...vestment Authority (BIA), runs through February 22. Speakers include chairman of the Grand Bahama Port Authority Ian Fair, Minister of Financial Services Ryan Pinder and Minister of State for Investment Khaalis Rolle. cmorris@dupuch.com......

...onorable Perry Christie, Prime Minister and Minister of Finance; Honorable Ryan Pinder, Minister of Financial Services; Honorable Obediah Wilchcombe, Minister of Tourism; Honorable Michael Halkitis, Minister of State for Finance; Honorable Khaalis Rolle, Minister of State for Investments; Ms. Wendy Craigg, Governor of the Central Bank of the Bahamas; senior government officials, and representatives of the opposition, private sector and civil socie......

...ence with the Olympic medal winners (from left) Michael Mathieu, Demetrius Pinder, and Deputy Prime Minister Philip “Brave” Davis August 14. (BIS Photo/Peter Ramsay) The government is committed to scouting for potentially great athletes in the country and preparing them for the 2016 Olympics and other sporting events, Prime Minister Perry Christie said yesterday. He made the statement during a press conference with the Bahamas’ men’s 4x400m relay......

...gest contributor to the IMO budget. The Bahamas remains the flag of choice for passenger ships. The Minister was in London to participate in the 44th anniversary of independence events hosted by the High Commissioner and to assist with the campaign for re-election to the IMO Council. Pictured: Donald Saunders, Deputy Speaker of the House of Assembly, Kitack Lim, Secretary-General of the IMO, and Frankie Campbell, Minister of Transport and Local Go......

...and Minister of Legal Affairs John Delaney stressed the importance of the financial services industry to the economy and the government’s role in regulating and promoting it. “The industry is recognized as representing an estimated 15-20 per cent of the gross domestic product for The Bahamas, second in terms of economic impact to the tourism industry,” he said. “The government’s primary role is that of regulator. However, as the second industry o......

...n Centre. The DPM said the strong regulatory regime that characterises the financial services sector ensures that the integrity of The Bahamas as an international financial centre is maintained. “As a sovereign nation for more than 40 years, successive governments have consistently demonstrated the country’s commitment to international best practices, cooperation in the administration of justice, international tax transparency, anti-money launderi......

...director of KRyS Global Ed Rahming also commented: “Offshore financial institutions have always been exposed to risk. In the last 10 years that risk has been a bit more highlighted.” Against this unsettled backdrop, Bahamian financial services providers are already preparing for the Foreign Account Tax Compliance Act (FATCA) , which comes into effect January 1 2013 and will require foreign financial institutions to disclose information on all thei......

...f you feel that there’s significant risk,” the CPA advised. Hamilton urged financial services providers to consider how PEPs are classified in their institution’s anti-money laundering risk assessment and to continuously keep abreast of current political standing locally and internationally in order to assess whether persons are on, or off, the PEPs list. “Financial institutions need to be able to justify their understanding of all significant tra......