242NewsBahamas - June 21st 2018 Newsletter (Weekly Highlights)
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PM says Bahamas is uniquely positioned to quickly become jurisdiction of choice for Blockchain companies
Prime Minister, Dr. the Hon. Hubert Minnis says Grand Bahama is the
ideal location in The Bahamas to support the establishment and growth
of a technology cluster of blockchain, and other software companies that
can jumpstart the technology industry in The Bahamas.
In spite of the challenges that come with establishing and
growing a technology sector, Prime Minister Minnis said that The Bahamas
is uniquely positioned to quickly become the jurisdiction of choice for
technology companies, particularly blockchain technology companies, and
fintech solution providers.
Prime Minister Minnis was the
keynote speaker during the opening ceremonies for the Bahamas
Blockchain and Cryptocurrency Conference, which opened on Wednesday,
June 20, 2018 at the Grand Lucayan and will run until Friday, June 22, 2018.
House of Assembly passes 2018/19 Budget, VAT increase to 12 percent
The 2018/19 Budget passed Monday
evening in the House of Assembly with the majority of Members of
Parliament voting for a number of fiscal provisions, including
increasing VAT to 12 percent.
Senate debate now takes place on the Budget, which takes effect, fiscal year beginning July 1.Read More
Minister Dames States Law Enforcement Response to Recent Homicides
Minister of National Security the Hon. Marvin Dames said, on June
17, 2018, that the recent string of murders over the past two weeks,
including that morning's homicide, must be very alarming to the Bahamian
public, and rightfully so.
"The loss of any human life is a tragic and heartbreaking
experience particular for family members and, at this time, I would like
to extend my condolences and that of the Bahamas Government to families
of all victims of violence in this country," Minister Dames said,
during a press conference at the Paul Farquharson Conference Centre,
Police Headquarters.Read More
DPM Presents Budget Issues to Grand Bahama Chamber of Commerce
The government has made provisions to empower people during this
current budget period, said Deputy Prime Minister and Minister of
Finance, the Hon. Peter Turnquest during the Grand Bahama Chamber of
Commerce Business Luncheon, June 15, at Pelican Bay.
Minister Turnquest, in explaining why the government will increase
VAT from 7.5% to 12% to increase revenue, presented to Chamber members
what the government faced when coming to office on May 10, 2017.Read More
Eco-Oil Bahamas to start business in Freeport with $10 million investment
Minister of State for Grand
Bahama in the Office of the Prime Minister, Senator Kwasi Thompson says
that Eco-Oil joins the growing list of foreign and local direct
investors showing confidence in Grand Bahama's local economy, with its
initial investment of $10 million during construction and operation
Home Fabrics set to open in Grand Bahama
Grand Bahama is set to get yet another economic boost with the
opening of the largest fabric distributor in the country, Home Fabrics.
With an estimated $2 million initial investment, the company will hire 10 people and more as the business grows.
Minister of State for Grand Bahama in the Office of the Prime
Minister, Senator the Hon. Kwasi Thompson, during a press conference to
announce the business expansion on Thursday, June 14, congratulated the
Benjamin and Laura Pinder of Home Fabrics on the venture.Read More
Former M.P. Pierre Dupuch comments on tax on Bahamian Gambling Industry.
I don't like gambling. I think it's addictive, it harms children's
wellbeing and it takes money from the poor. If gambling is allowed it
should be in the form of a lottery with all money earmarked for
Education and Health.
That's my opinion.
Ever since the FNM stated they planned to target the local numbers industry with up to 50% taxes, I have heard comments like:Read More
The Voice of the People will not be Silenced
Government is tone deaf The people's voice will not be silenced MPs stood on principle and counted the cost Lack of conviction is bane of our democracy According
to media reports, the Members of Parliament (MPs) for Golden Isles,
Bain and Grants Town and Pineridge have been terminated from their
government posts for voting against the legislation that increases the
Value Added Tax (VAT) rate from 7.5% to 12%. This historical day will be
remembered as a day when men of courage were persecuted and paid a
price for standing up for their constituents. Read More
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Ministers Turnquest and Pintard applaud Tabby Falcons for outstanding sporting year
Scholastic and sporting achievement by students from Tabernacle
Baptist Academy were applauded by Deputy Prime Minister, the Hon. K.
Peter Turnquest and Minister of Youth, Sports and Culture, the Hon.
Michael Pintard, during the school's awards ceremony, June 8, 2017.Read More
Freeport RFC Represents Bahamas Well in Nassau
The old adage of Saturday is a rugby day came to life last weekend for members of the Freeport Rugby Football Club.
Between a U-23 match against the Lonestar Rattlesnakes and an
intense training session for the Bahamas women's national team, Winton
Rugby Field was buzzing with excitement all day. It should come as no
surprise that Freeport was at the center of the action. Read More
Beaches Ocho Rios' Jardine Vassell is Sandals/ATL's Team Member of the Year
Long before she was even a contender for the title of the
Ultimate Team Member for the Sandals/ATL Group, Jardine Vassell was a
legend in her own right.
Hailed as a devoted and hardworking
team member with an unmatched passion for volunteerism and community
work, Vassell's status as a legend was further cemented on Thursday
night as she was named the 2017 team member of the year during the
company's annual Ultimate Award Ceremony and Dinner. Read More
Click Below for this week's weather in The Bahamas:
June 30th, 2018
Furniture Plus Art Competition: "Art from the Heart" 6:00pm