The Bahamas Investor

...CEO also pledged to lower rates in the coming months, saying: “We have a commitment to review and improve on pricing where we can.” Through better customer service, a new mobile network and more efficient broadband, the company is hoping to remain competitive once the market becomes fully liberalized in 2014. Houston said BTC expects to retain “a sizeable chunk” of its market share when competitors enter the market. cboal@dupuch.com......

...n to the new retail units, BTC is introducing a range of services over the coming months to improve connectivity in The Bahamas. The company will launch its new $42.8-million 4G network in New Providence at Christmas this year, with the Family Islands coming on stream over the next 18 months. “We want to give the best technology and the best range of services we can to The Bahamas. We want to bring The Bahamas up to where it needs to be [in order]......

...s through more efficient practices. Download Promoting Sustainable Energy in The Bahamas report here. cboal@dupuch.com......

Westchester NY, Oct. 22 (lohud.com) – In less than a month, JetBlue will begin direct flights from Westchester County Airport to Nassau in the Bahamas, the airline’s first international flights from Westchester. But the flights, starting Nov. 15, won’t require any U.S. customs checks here, because passengers boarding in the Bahamas are “pre-cleared” there, said a JetBlue spokesman and Peter Scherrer, general manager of the Westchester airport. Sc......

...average, the world economy grew at slightly below four per cent this year, compared to a growth of about five per cent a year earlier. Meanwhile, the Caribbean region continues to struggle to recover from a long and protracted recession. Fiscal consolidation and higher energy prices are constraining growth. Recovery in tourism remains tepid, amidst high unemployment in advanced economies. Advance economies are projected to grow at only 1.5 per cen......

...ahamian audience. The presentation took the form of a panel discussion. It comes at a time when the world economy is in the midst of a turbulent period with growth and confidence being negatively affected by the sovereign debt crisis in the European Union and high unemployment in some developed and developing countries. “Nevertheless, governments have to operate in this environment and put in place policies that will lead to growth over the short......

...equired to address regulatory blind spots and bring financial oversight in-line with best practices. tblair@dupuch.com......

...the short-run in terms of putting the public finances more in a sustainable basis,”?says Savastano. tblair@dupuch.com......

...mmented: “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 their US clients. Failure to disclose details......

...d that transferred $3.2 billion to convicted fraudster Bernard Madoff. The company is being liquidated under the supervision of the Commercial Division of the High Court of Justice in the British Virgin Islands. Krys Global’s chief executive officer Kenneth Krys and managing director Joanna Lau are the court appointed co-liquidators. By the time Madoff’s Ponzi scheme was uncovered, Fairfield Sentry had a reported value of $6 billion. At last repor......

...s the industry’s definitive hedge fund conference for the LatAm investment community, bringing together US and Latin American investors, and featuring end-investor case studies, lively debates and networking opportunities. This year’s event will be held October 4-6 in New York City. The Brazil Investment Summit USA is also to be held in Manhattan on October 25-26. The investment strategy conference is for funds, traders and investors focused on Br......

...” he added. Hanna also offered a piece of advice: “Ensure that your word becomes your bond.” “Our seven years experience on the journey to become lawyers did not make us liars, but on the contrary it made us leaders; to be an example of the right thing to do and the right way to go,” said new attorney Lanisha Tamar Rolle, speaking on behalf of the group. This latest batch of lawyers were presented before the Supreme Court in three ceremonies–held......

...y to brush up on their skills, which Minister Pinder cited as important for the “advancement of the industry.” The initative is part of the new department’s six-month plan, which will feed into a five-year strategic business plan. The Minister called on the financial services community to give feedback on the plans and get involved, highlighting his own background in the private sector. “It is going to take some time, some effort and some cooperat......

...pment.” Minister Pinder also highlighted the need to look at tax structures in place in other jurisdictions, to see how The Bahamas could refine its approach in attracting new business. “Gone are the days when we can say: ‘we are a tax free jurisdiction, come park your money here,'” he told the seminar delegates. “Tax policies have changed. We must understand how we can leverage the tax policies of other jurisdictions to enhance our industry and u......

...e have to do. It seeks to maintain the minimum standards, but a culture of compliance is not enough,” she told members of the financial community at a Bahamas Institute of Financial Services (BIFS) seminar held in Nassau recently. “Right and wrong should not be measured merely by compliance with the law. Employees should feel free to discuss ethical issues and be rewarded for ethical behaviour.” Rolle-Bastien stressed that those at the senior leve......