The Bahamas Investor

...the United Nations World Tourism Organization’s (UNWTO) regional director for the Americas. “Tourism is resilient. It has a tremendous capacity for recovery that demonstrates what a dynamic sector it can be,” he said. In the Caribbean region international arrivals numbered 20.2 million in 2010, a 3.3 per cent year-on-year increase, while total revenue increased 3.2 per cent to reach $23.9 billion. Vogeler, who spoke at the First Regional Seminar......

...ed to be able to offer our Palm Beach County residents and the surrounding communities the opportunity to now fly direct from Palm Beach International Airport to Freeport daily on Gulfstream.” New flights from Vision Airlines to The Bahamas are set to begin November 3, providing a non-stop jet service to Grand Bahama from Richmond, Virginia; Louisville, Kentucky; Greensboro, North Carolina; Baltimore, Maryland, and Ft. Lauderdale, Florida. Using a......

...veral in the Caribbean — where passengers go through U.S. customs checks before returning to the country. “If they didn’t have pre-clearance we wouldn’t be able to get flights in here,” he said. When the Nassau service begins, JetBlue will fly one flight in and out every day, said airline spokesman Mateo Lleras. A flight will be scheduled to depart at 8:10 a.m., arriving in Nassau three hours later. Returning, the flight will leave Nassau at 12:05......

...ut five per cent during the first half of 2011. Growth continued to be led by the commodity-exporting countries of South America, supported by easy external financing conditions and favourable terms of trade, says the IMF. In Central America, the recovery gathered momentum, fueled by domestic demand and increased agricultural exports, whereas in the highly indebted and tourism dependent Caribbean countries, growth has remained stubbornly low. Expe......

...gional Economic Outlook, to a Bahamian 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......

...n, the IMF says further efforts are required to address regulatory blind spots and bring financial oversight in-line with best practices. tblair@dupuch.com......

...is first stimulization then a reduction in your dept to GDP ratio at the debt level,” he advises. “The bottom line is, you don’t want your debt to GDP to keep rising.” Fears of another recession in advanced economies have sparked global financial markets volatility. Is The Bahamas prepared to weather another economic storm so soon? “Yes, they are prepared, in the sense that they are aware and there’s a general agreement between the government and......

...volving overseas institutions. “The way the law stands today, I would feel comfortable [in The Bahamas] but if you have anything going on in the US, you better watch this and be careful,” he advised. Yesterday’s presentation, which was organized by professional services provider KRyS Global and law firm Lennox Paton , took place at the British Colonial Hilton and also featured a panel discussion with KRyS Global chief executive officer Kenneth Kry......

...has been an honour and a unique privilege to serve as BFSB’s CEO and executive director and to have had the opportunity to work with so many gifted and dedicated professionals in our industry,” she says. “My commitment to the growth of the sector and BFSB remains strong and unchanged, reinforced in large measure by the tireless contributions made by all stakeholders of our industry and the dedicated team at BFSB.” Warren has decided to pursue othe......

...esentatives from across the Caribbean and is co-sponsored by the Caribbean Community (CARICOM). “When we talk about SMEs being the engine for long-term growth [in tourism], we have the resolve to make it come true. We are committed to this idea that SMEs are very important to us,” said the Minister, who went on to highlight the marketing gap for smaller hotels in The Bahamas, saying they needed to reach customers online. “Even in the best year for......

...icers (BACO). BACO was established in 1999 to provide training and support for compliance professionals practicing in The Bahamas. “BACO, in observance of its 12th anniversary, has planned a number of activities designed to highlight the work of the organization and to sensitize the general public of the important role in plays in the Bahamas’ Financial Sector,” reads the proclamation. The organization’s role as a supporting body has become even m......

...we are so connected in the Caribbean. We are the policymakers and [we must be] prepared to set the course and chart the course for CRFM.” cmorris@dupuch.com......

...ly, financial institutions were asked to obtain senior management approval for establishing (or continuing, for existing customers) business relationships; take reasonable measures to establish the source of wealth and source of funds to ensure they have not been derived from a corrupt source; and conduct enhanced, ongoing monitoring of the business relationship. “As you revise your PEP list for 2012 as a result of the 2012 election, consider that......

...in particular to apply for financing through the bank which provides loans for companies seeking to import US goods. “We do not want to compete with banks; it is a supplemental tool,” Castillo explained. “We are creating jobs through export, that is what Ex-Im is all about.” “It is more flexible [than bank capital]–any industry, except military, and any size [of product]. We are open, as long as we have the right product. We are going to break the......

...the innovative products that you need. ” The event in London was attended by around 100 leading international financial services providers, lawyers and wealth managers. From left: Commodore Davy Rolle, director and CEO, Bahamas Maritime Authority; Ian Fair, chairman, Bahamas Maritime Authority; Aliya Allen, CEO & executive director, Bahamas Financial Services Board; Ryan Pinder, Minister of Financial Services; Paul Winder, chairman, Bahamas Finan......