The Bahamas Investor

...During the workshop, it was highlighted that already a significant portion of investments into the region come from reinvestments but these figures are not monitored nor incorporated as FDI. The training of the IPAs forms part of a broader initiative to develop a reinvestment programme for CAIPA and to track reinvestment figures within the Caribbean. Preliminary results from a survey of existing investors, which forms a part of this project, indic......

...ty and communications. 8. An educational system designed to meet the needs of foreign and domestic investments. With specific regard to the financial services sector, the government is doing its part to ensure the sector remains internationally competitive and adequately and prudently regulated. To this end the government has actively pursued, among others, the following initiatives: 1. development of a School of Business at The College of The Bah......

...rks to the Bahamas Chamber of Commerce and Employers’ Confederation on the State of The Economy Report 2018, February 22. The Governor addressed foreign investment and exchange controls during his speech, saying: “Notwithstanding the present debate on the usefulness of the exchange control regime, it is important to note that the controls do ensure that adequate foreign exchange flows are always available to support the fixed parity of the Bahamia......

...uthority Group of Companies; Minister of Tourism Obie Wilchcombe; Minister of State in the Ministry of Transport and Aviation, Hope Strachan; Henry St. George, vice president, GBPA; Sherry Brooks, corporate and government affairs director. (BIS Photo/Vandyke Hepburn) Hope Strachan, Minister of State in the Ministry of Transport and Aviation, brings remarks on behalf of Minister of Transport and Aviation Glenys Hanna-Martin during the opening of th......

...former French and religious knowledge teacher, Jackson joined the Ministry of Foreign Affairs in 1988, armed with a bachelor of arts degree in French with a minor in economics from Simon Fraser University in Vancouver, Canada. She received her first posting abroad in 1993, as a foreign service officer to the Bahamas High Commission in London. There, she had responsibility for economic and trade matters, and relations with the European Union office......

...hat people do business with people and not organizations.” Building a team of professionals To that end, Andbank Bahamas has been building a team of professionals that understand the needs and wants of its clients and can develop lasting relationships. For Iglesias, these elements of the job have been the driving factors for his involvement in the sector. “I find people and their lives very interesting. The bank offers me the possibility to mix fi......

...ve already been sold and mega-yachts up to 208 feet long have utilized the state-of-the-art amenities. Owners now call Exuma their home base. The upscale community also boasts a European-style spa and a Greg Norman-designed golf course with views so spectacular they make it difficult to concentrate on the next shot. The addition in May 2006 of the island’s first casino added a new entertainment option for visitors and guests. Home away from home F......

...ted net income attributable to Buckeye’s unitholders for the first quarter of 2012 of $52.0 million, or $0.54 per diluted unit, compared to net income attributable to Buckeye’s unitholders for the first quarter of 2011 of $66.5 million, or $0.79 per diluted unit. Buckeye’s Adjusted EBITDA (as defined below) for the first quarter of 2012 was $115.0 million compared with Adjusted EBITDA of $122.2 million for the first quarter of 2011. Operating inco......

...unemployment continued to increase sharply. Tourism numbers and the amount of foreign direct investment fell in The Bahamas, leaving the average Bahamian investor in a general state of panic. Many investors who bought into the market during the height of 2007 now saw much of those investments rapidly decline. Many Bahamian investors sealed their own fates and recognized substantial losses when they decided to sell these investments to avoid any fu......

Senator James Smith is Minister of State for Finance for The Bahamas, as well as a former governor of The Central Bank of The Bahamas and a former ambassador for investment and trade. He has also served as a director on the domestic stock exchange and on the Bahamas Financial Services Board, a private-sector-led trade association. In conversation with The Bahamas Investor, Senator Smith tackles the sensitive subject of tax reform in a developing......

...e within his portfolio and he has appointed Zhivargo Laing as his Minister of State for Finance. The Ministry of Financial Services and Investments was an invention of former Prime Minister Perry Christie and has been eliminated in the formation of Mr Ingraham’s Cabinet. The roles previously conducted by that Ministry will be absorbed by different ministries. The Bahamas Financial Services Board (BFSB), which was created during Ingraham’s second t......

...ontinues to be committed to doing so. We have entered into 33 Tax Exchange of Information Agreements; we are Foreign Accounts Tax Compliance Act (FATCA) compliant; and we have repeatedly shown our commitment to the Automatic Exchange of Information/Common Reporting Standard. The government has restated its commitment to the bilateral approach (one of two options presented by the OECD) and industry and government are collaborating on the implementa......

...o revamp the existing securities legislation. James Smith, former Minister of State for Finance, revealed while in office that the Securities Commission had engaged the services of a Canadian-based consultancy firm to identify much-needed reforms to the Securities Industry Act (the law that regulates the capital market and investment funds sector). Smith says the focus of the modernization legislation would be to enhance protection of minority sha......

...his News Release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This News Release contains forward-looking statements, including with respect to the propose......

...tepping down from the role on June 30 to focus on his position as chairman of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC). According to Cooper, major issues shaping the future of industry include: exchange controls; the Foreign Account Tax Compliance Act (FATCA); capital management; government policy; technology; internal/offshore expansion; and the convergence of banks and insurance companies, among others. Although the Eu......