The Bahamas Investor

...ancing needs. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue” or other similar words or expressions. These forward-looking statements reflect our current views about future events and are subject to risks, unc......

...s regarding the risks associated with Colina’s high concentration in real estate investments relative to the total equity of the company and the continued delinquencies in its mortgage loan portfolio that are attributable to the current weak economic environment in The Bahamas. While the company’s earnings performance remains positive, the depressed economic environment also has had an effect on its core life/health insurance lines. Key rating fac......

...ing and operating assets with a focus on real estate, infrastructure, renewable power and private equity. Brookfield also specifically has over $83 billion of property assets and decades of operating experience in real estate investments which span the globe. The government will now continue to facilitate the transfer of ownership, a transition which is expected to be seamless, having regard to Kerzner’s continued management role.......

...ined a positive momentum during February. Preliminary data on room revenue for a sample of hotels in Nassau and Paradise Island posted a 10.9% hike, extending the 8.8% gain for January. Average occupancy rates firmed by 4.8 percentage point to 69.2%, to outpace a 0.9% contraction in average daily room rates (ADRs) to $237.68. Inflation for the twelve months to February—as measured by the Retail Price Index for The Bahamas—firmed to 3.3% from 1.5%......

...through a networking reception and lunches. CHTA and the CTO are both not-for-profit organizations. CHTA represents the regional hotel and tourism associations, while the CTO is the public sector tourism body representing the countries of the region. CHTIC was launched in 1997 with the specific objectives of improving the tourism investment and operating climate in the Caribbean, raising awareness of development opportunities and stimulating a co......

...e Dana III, owner of Newport Shipyard in New England and longtime resident of Lyford Cay on New Providence in The Bahamas. “It’s a whole lifestyle.” And it is a lifestyle that Dana has been enjoying his whole life. Having been bitten by the boating bug at an early age, Dana has spent his life ensconced in the yachting world, both here in The Bahamas and in the US. “I have been a boat nut since I was a small child,” he explains. “I can’t really fig......

...ers,” he explained. Skousen’s other tips included the energy sector, real estate, foreign stocks and bonds and financial stocks. “Mid-Western banks seem to be the place to be, the sweet spot, when it comes to investing,” he told attendees at the summit on Friday last week, emphasising that opportunities did exist for those who were willing to diversify their portfolio and adapt to the volatility of the markets. “We have some real winners here. If......

...te selection processes. Other studies by the World Bank and the University of Oxford have found that there was a strong positive correlation between the provision of information by the government and investor decisions to locate in an economy. In particular, in countries where the investment climate can be categorized as unpredictable and non-transparent, IPA support could make a significant difference to investors, influencing their decisions. It......

...Annual General Meeting, which was followed by a luncheon, where the Prime Minister offered the keynote address. Stuart Bowe, senior vice president at Atlantis Paradise Island, was re-elected president. “I wish to thank the members, our executive committee, and our staff for giving me the opportunity to serve as your president in 2011,” he said. “It has been a year of positive change and continued challenges both for BHA and our industry.” Bowe po......

...the port considerable wealth is being created for Bahamians, who were heretofore excluded from participating and benefitting from profitable and lucrative port operations in New Providence. The shares are a good investment. I highly recommend them for purchase by all Bahamians with the ability to purchase them. Ownership of shares in the port will make more Bahamians owners of a bigger portion of the Bahamian economy. And it will cause thousands o......

...section. On the cover of the new issue is Viana Gardiner, acting director of investments at Bahamas Investment Authority (BIA). The BIA is instrumental in the development and progression of foreign direct investment (FDI) into The Bahamas. Acting as the administrative arm of the National Economic Council (NEC)–a Cabinet sub-committee headed by Prime Minister Hubert Ingraham–the BIA implements the government’s national development policy and helps......

...Bahamas.” The BIA’s primary function is to serve as the administrative arm of the National Economic Council (NEC)–a Cabinet sub-committee headed by Prime Minister Hubert Ingraham. The council evaluates proposals and decides which projects can proceed. The BIA implements the government’s national development policy and helps to facilitate those projects that receive the green light. Read the entire interview with Gardiner in the new issue of The Ba......

...ld like to introduce to existing clients, as well as to new customers. The offshore and corporate side of the business also presents opportunities, says the new managing director, who started at Scotiabank as a teller 20 years ago. “There’s an interesting dynamic right now in the region. There’s a number of different jurisdictions that target and serve the offshore, international financial services market. The Bahamas is arguably, the biggest, the......

...t. “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 of our economy, the government must also facilitate the growth, development and general well-being of the sector.” “So, in addition to ensuring that it is well regulated, the......

...eclined by 0.5%. With regard to electricity costs, the average fuel charge for the month of September was unchanged at 26.00 cents per kilowatt hour over the previous month, but surged by 52.6% on an annual basis. In contrast, the average monthly prices of both gasoline and diesel fell by 1.3% and 2.0% to $5.37 per gallon and $4.98 per gallon, respectively; however, year-on-year, the prices of both fuels increased by 22.6% and 35.3%, respectively.......