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LPIA departures up 21.6 percent
May 31, 2023
LPIA departures up 21.6 percent
April's busy travel period saw continued momentum for the tourism sector, with data from the Nassau Airport Development Company (NAD) showing a 21.6 percent increase in departures from the country's main gateway.
Private sector credit up $6 million
May 31, 2023
Private sector credit up $6 million
Private sector credit increased by $6 million during the month of April, following a double digit falloff during the same period a year ago, The Central Bank of The Bahamas revealed yesterday.
BoB added as new SandDollar AFI
May 30, 2023
BoB added as new SandDollar AFI
As it seeks to expand the adoption of its digital currency SandDollar, Central Bank of The Bahamas (CBOB) revealed last week that Bank of The Bahamas (BOB) is the newest authorized financial institution approved as an authorized financial institution (AFI). In a public update on the digital currency, CBOB also revealed that it has completed ...
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May 30, 2023
Central Bank announces technical developments, upgrades for mobile wallet holders
NASSAU, BAHAMAS- The Bank of The Bahamas (BOB) will soon become the latest authorised financial institution (AFI) to begin providing SandDollar wallet services to customers in a targeted and phased rollout according to the Central Bank, with the regulator also revealing technical developments and upgrades for mobile wallet providers. In a recently released public update [...]
May 25, 2023
AML Foods Purchases Building that houses Solomon’s Super Center on Old Trail Road
AML Foods Limited announced today that it has purchased the building space, previously leased to houseSolomon’ Super Center, located on the East West Highway and Old Trail Road, for $10.5m including closingcosts.
New Cost Right, Solomon's on the horizon as AML Foods purchases Solomon's Super Center building for $10.5 million
May 25, 2023
New Cost Right, Solomon's on the horizon as AML Foods purchases Solomon's Super Center building for $10.5 million
NASSAU, BAHAMAS — AML Foods Limited has announced that it has purchased the building space for $10.5 million, including closing costs. The space previously leased to house Solomon's Super Center located on the East-West Highway and Old Trail Road. According to the company, the purchase was financed through RBC Royal Bank (Bahamas) Limited. The company [...]
B&B Wins Rugby Championship
May 23, 2023
B&B Wins Rugby Championship
NASSAU, BAHAMAS - The Bahamas Capital Union Bank Rugby Championships were held on Saturday afternoon at the Winton Rugby Pitch.
Closing Ceremony held for the Accelerate Bahamas Project, a Strategic Partnership Between the IDB and SBDC
May 22, 2023
Closing Ceremony held for the Accelerate Bahamas Project, a Strategic Partnership Between the IDB and SBDC
A closing ceremony for Accelerate Bahamas, a strategic partnership between the Inter-American Development Bank Lab (IDB) and the Access Accelerator Small Business Development Centre (SBDC) was held at the Centre on Thursday, May 18, 2023.
RF National Golf Championships Tee Off
May 22, 2023
RF National Golf Championships Tee Off
The Bahamas National Amateur Championships four-day tournament kicked off on Thursday with title sponsor RF Bank & Trust. RF is proudly returning as the lead sponsor for the sixth year. The tournament has become a staple in the investment banks community and sports involvement.
May 22, 2023
Prime Minister Davis Lauds the Strengthening of Ties between Ghana and The Bahamas
Prime Minister and Minister of Finance the Hon. Philip Davis said, on May 17, 2023, that he was “truly delighted” to attend the Ghana-Bahamas Business Summit, held under the fitting and timely theme of “Building Stronger Ties”, at the University of The Bahamas.
RF VP Shares Possible Economic Challenges
May 19, 2023
RF VP Shares Possible Economic Challenges
NASSAU, BAHAMAS - The Bahamian economy appears to be moving in the right direction, that is according to the Vice President & Group Head of Investment Management at RF Bank & Trust David Slatter.
Country's Economic Outlook Looks Positive
May 18, 2023
Country's Economic Outlook Looks Positive
NASSAU, BAHAMAS - VP & Group Head of Investment Management at RF Bank & Trust says the country's economic outlook for the rest of the year looks positive.
Coral Gene Bank Formed to Fight Coral COVID
May 18, 2023
Coral Gene Bank Formed to Fight Coral COVID
NASSAU, BAHAMAS - This morning members from various foundations gathered to sign the agreement for The Bahamas Coral Gene Bank at Paradise Island.
Bradley Allen
May 18, 2023
Bradley Allen
Funeral Service for the late Bradley Allen aged 70of Brighton Road off Perpall Tract will be held at 11:00 a.m. on Friday 19th May, 2023 at Macedonia Baptist Church, Bernard Road, Fox Hill. Officiating will be Rev'd Dr. Hartman A. Nixon assisted by other ministers of the gospel. Interment will follow in the Church's cemetery, ...
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THELCITA IRONICA PENNERMAN
May 18, 2023
THELCITA IRONICA PENNERMAN
FUNERAL ANNOUNCEMENT THELCITA IRONICA PENNERMAN (Senior TCN) age 51 years of Wellington Pinders Estates, Grand Bahama and formerly of Victoria Point, Mangrove Cay, Andros will be held on Saturday, May 20, 2023 at 11:00 a.m. at Zion South Beach Baptist Church, Zion Boulevard, Nassau, The Bahamas. Officiating will be Rev. Dr. Anthony Sampson, assisted by Rev. ...
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Mr. Stanmitz Alonzo Butler
May 18, 2023
Mr. Stanmitz Alonzo Butler
Funeral service for Mr. Stanmitz Alonzo Butler age 86 years of United Estates, San Salvador will be held at Zion Baptist Church, East Street on Saturday 20th May 2023 at 1:00 p.m. Officiating will be Rev. T. G. Morrison. Interment will follow in Eastern Cemetery. Survived by his wife Evangelist Christine Butler, sons: Elvis (Veronica), ...
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May 18, 2023
Central Bank: Firms in shadow shopping exercise AML compliant
The Central Bank of The Bahamas (CBOB) revealed yesterday that 100 percent of the financial firms engaged in a shadow shopping exercise were compliant with anti-money laundering (AML) regulations in The Bahamas. In a first, CBOB engaged specialist firm Evaluasi - which is comprised of some of the world's leading AML researchers - to conduct ...
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May 18, 2023
Bahamian Banks and Trust companies excel in compliance study
NASSAU, BAHAMAS- A Central Bank commissioned anti-money laundering (AML) report has revealed that Bahamian banks and trust companies have a strong compliance culture, with only 14 percent of unsolicited approaches from dubious new clients generating a response from local firms. The Central Bank yesterday released an AML compliance report prepared by Evaluasi, a specialist firm kno...
RF Bank & Trust Talks GB Development
May 17, 2023
RF Bank & Trust Talks GB Development
GRAND BAHAMA, BAHAMAS - In our monthly sit down with the Vice President & Group Head of Investment Management at RF Bank & Trust David Slatter, he spoke about the outlook for the Bahamian economy for 2023.
May 17, 2023
Need for improved telecommunications and energy reliability highlighted in IDB report
NASSAU, BAHAMAS- A recent Inter-American Development Bank (IDB) report has once again highlighted the need to improve reliability of telecommunications and energy in the country in addition to greater digital adoption, noting that based on the country's income per capita these areas are key development gaps in need of further investment. The country summary on [...]
Doctors Hospital Appeals For Blood
May 16, 2023
Doctors Hospital Appeals For Blood
NASSAU, BAHAMAS - For months now blood bank levels in the country have been low and now Doctors Hospital is appealing to residents for more donations.
May 16, 2023
Electronic money service provider transactions down 42 percent
Driven mainly by an end in government pandemic-related payment disbursements, payment activity facilitated by electronic money service providers (EMSPs) dropped more than 42 percent in 2022. The Central Bank of The Bahamas revealed in its just released Annual Report and Financial Statements a further decline in the value of transactions processed across those platforms. This ...
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May 16, 2023
Central Bank reports growth in electronic transactions
Bahamian residents continued to reduce their reliance on cash in 2022, with new data from The Central Bank of The Bahamas (CBOB) showing growth in electronic transactions. The bank in its 2022 Annual Report said the growth was led by a more than 18 percent increase in debit card transactions during the year. "Growth in ...
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PM meets with small business owners
May 16, 2023
PM meets with small business owners
In a roundtable discussion yesterday, Prime Minister Philip Davis met with local small and medium-sized businesses (SMEs) to discuss government-led initiatives and the challenges faced by the business community. The meeting, hosted in conjunction with the Access Accelerator Small Business Development Centre, underscored the Davis administration's commitment to supporting Bahamian entrepreneurship ...
May 16, 2023
Central Bank reveals nearly $90 million in dormant bank accounts.
NASSAU, BAHAMAS- Just under $90 million in dormant bank accounts were in the custody of the Central Bank at year-end 2022 according to the regulator. The Central Bank in its annual report and statement of accounts for 2022 noted that at December 31st, December 2022, it maintained custody of 41,878 dormant facilities, with balances totalling [...]
May 16, 2023
Fraudulent transactions increase by nearly $19 million in value.
NASSAU, BAHAMAS- In 2022, the number of cases of reported cases of payment fraud relative to cheques, debt and credit cards declined by just over 24 percent however the value of such transactions increased by just under $19 million according to recent data released by the Central Bank. According to the Central Bank in its [...]
Partnership To Assist Blood Bank with Resources
May 15, 2023
Partnership To Assist Blood Bank with Resources
NASSAU, BAHAMAS - With a continued need for blood in medical institutions, blood drives have been popping up around the country.
Banks And Airports On The Way For Family Islands
May 12, 2023
Banks And Airports On The Way For Family Islands
NASSAU, BAHAMAS - The government looking to put an end to the banking shortage in the Family Islands.
BOB reports 68.87 percent growth in net income
May 12, 2023
BOB reports 68.87 percent growth in net income
Bank of The Bahamas (BoB) experienced 68.87 percent growth in net income for a total of $9.8 million for the nine months ending March 31.
May 11, 2023
Young entrepreneur finds success in billboard business in Freeport
The petition of a recent college graduate with a business dream got the Grand Bahama Port Authority (GBPA) to amend its by-laws in order for that young entrepreneur to bring his company Advertere Marketing to fruition. That businessman, Andros native Brandon Hall, launched his billboard advertising company in Freeport two months ago, and his ad ...
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