Category Archives: Bahamas

NASSAU, BAHAMAS While the government saw an improvement in its revenue intake during the third quarter of the fiscal year due to the continued relaxation of COVID-19 restrictive measures and the restart of the tourism sector, total revenue still saw a nearly 30 percent decline over the same period in the previous fiscal year.

According to the Ministry of Finances combined nine-month fiscal snapshot and report: The continued relaxation of COVID-19 restrictive measures during the third quarter FY2020/21 and the restart of the tourism sector have improved Bahamian economic activity, resulting in a firming of revenue collection in the third quarter FY2020/21.

Compared with the same period in FY2019/20, however, total revenue declined by an estimated $527.4 million (30 percent) to $1,229.7 million or 70 percent of last years collection and 69.8 percent of budget.

The Ministry of Finance noted that the third-quarter fiscal results confirmed that the Bahamian economy, although still below pre-crisis performance, is steadily progressing along the path of recovery.

Value-added tax (VAT) receipts strengthened to $183.4 million in the third quarter, from $151.7 million in the second quarter and $134.7 million in the opening quarter of FY2020/21.

It was also noted that during the third quarter, there was a boost in collections of real property taxes, increasing year-on-year by $11 million for the quarter due to the Real Property Tax (RPT) Forgiveness Programme, as well as a steady recovery in VAT and business license receipts, in the context of broadening gains in economic activity.

It was also noted that improvement in VAT collections was aided by the expiration of certain clauses of the Special Economic Zone (SERZ) concessions designed to aid in the rebuilding of areas of Grand Bahama and Abaco damaged by Hurricane Dorian in September 2019.

State Minister for Finance Senator Kwasi Thompson noted: We are seeing moderate signs of economic recovery as we are able to stabilize the public health crises. The third-quarter fiscal results provide optimism for the future.

We are pleased to see economic activity return as the domestic economy and export sector open up more and more. It is important for us to stay disciplined and vigilant, and for the vaccine rollout to continue in earnest, to allow for the ongoing relaxation of restrictions.

It would be clear to all objective observers that the governments Resilient Bahamas Plan has proven effective in providing real and tangible assistance to Bahamians while supporting stable macroeconomic conditions. Further, consistent with the governments strategy, the plan has ensured that the country has been able to weather this economic storm, while still keeping its foreign currency reserves at high levels, allowing the Bahamian dollar to remain as strong and secure as it has ever been.

Thompson further noted: Although we have not achieved pre-pandemic levels, the third-quarter results clearly indicate the situation is improving and we have successfully prevented any worst-case economic scenarios from materializing.

Outside of the necessary increases in social welfare spending to maintain unemployment benefits and to provide food to those in need, we have managed to contain other discretionary expenses to offset these increases.

This is what we set out to do as part of our fiscal adjustment plan: curtail non-essential capital expenditure by $100 million. So far, we have had notable success and we feel confident we will meet our fiscal target.

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SLOW CLIMB: Govt revenue improves in third quarter but still down nearly 30 percent - EyeWitness News

NASSAU, Bahamas, April 22, 2021 /PRNewswire/ -- As travel continues a steady return growth (with safety regulations in place), The Bahamas is excited to welcome back visitors with more flight options and deals this summer.

Given anticipated demand by its consumers, American Airlines has announced direct flights from Austin-Bergstrom International Airport (ABIA) to Lynden Pindling International Airport (NAS) beginning June 5, 2021. Frontier Airlines has also announced that direct flights from Miami International Airport (MIA) to Nassau (NAS) will be available four times a week starting July 2021.

To ensure travelers' safety, each airline has implemented travel requirements and safety measures, with more details available by visiting http://www.aa.com and http://www.flyfrontier.com. "We're excited to welcome these new flights to The Bahamas, allowing more options for travelers to book a stay in paradise, now that warmer weather is here," said the Hon. Dionisio D'Aguilar,BahamasMinister of Tourism & Aviation.

While on island, wanderlusters will find ultimate relaxation and exhilarating adventure through the destination's rich culture, decadent sea-to-table dining and beautiful natural wonders. From secret sandbars and secluded pink-sand beaches, to deep blue hole diving and swimming with the pigs, there is truly something for everyone to enjoy. Not to mention, Downtown Nassau offers 20 square blocks of monuments, murals, and museums for those looking to immerse themselves in The Bahamas centuries-old history.

Those looking to book their next vacation, whether in Nassau or island hopping throughout the Out Islands, can head to http://www.bahamas.com/deals-packages or check with their hotel representatives to learn more about the deals and packages available in the coming months.

ABOUT THE BAHAMASFor an overview of The Bahamas' travel and entry protocols, please visit Bahamas.com/travelupdates.

Explore all the islands have to offer atwww.bahamas.comor onFacebook,YouTubeorInstagram.

PRESS INQUIRIESAnita Johnson-PattyBahamas Ministry of Tourism & Aviation[emailprotected]

Weber ShandwickPublic Relations[emailprotected]

SOURCE Bahamas Ministry of Tourism & Aviation

http://www.bahamas.com

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The Bahamas Welcomes Visitors With Even More Ways To Travel This Summer - PRNewswire

NFL stars are soaking up the sun in the Bahamas during the off-season.

After Super Bowl champ Rob Gronkowski was spotted at Baha Mar resort with his family celebrating the 60th birthday of his mom, Diane, NFL running back Todd Gurley was separately seen hanging poolside at Baha Mars members-only NEXUS Club.

Adding to the beachside roster, Falcons star and former Gurley teammate Julio Jones was also at the resort last week, sources said.

Gurley was later seen getting a sneak peek of Baha Bay, the resorts multimillion-dollar waterpark thats expected to open in July.

Also on the sporty scene, ESPN commentator and former Ohio State quarterback Kirk Herbstreitwas seen dining at the resorts outpost of sushi spot Katsuyaalong with Kenny Dichter, the CEO of private-jet firm Wheels Up.

Former Giants star, Tiki Barber, was also recently vacationing at the same resort with ex-Yankees hurler CC Sabathia and their wives.

Buccaneers tight end Gronk posted pics on Instagram of his familys celebration, which included an enormous arch of pink balloons and flamingos.

He was joined by brothers Glenn and Chris along with their significant others.

It was beautiful and very special watching them celebrate their mother the entire weekend, a spy told Page Six.

In February, Gronkowski celebrated his fourth Super Bowl win his first for Tampa Bay and being reunited with his former Patriots teammate Tom Brady. Gronk and hisgirlfriend Camille Kostekalso shared a sweet moment on the fieldat Raymond James Stadium in Tampa.

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NFL stars converge on the Bahamas to soak up the sun - Page Six

By BRENT STUBBS

Senior Sports Reporter

bstubbs@tribunemedia.net

The Bahamas Association of Athletic Associations will not be sending a team to the fifth edition of the World Athletic Relays, scheduled for May 1-2 at the Silesian Stadium in Chorzow, Poland.

After hosting the first three editions of the World Relays in 2014, 2015 and 2017 at the Thomas A Robinson National Stadium, the fourth edition was moved to Yokohama, Japan in 2019 after the Bahamas Government declined to provide the necessary funding.

The Bahamas decided to send a mens team to compete in both the 4 x 200 and 4 x 400m relays, but neither team fared that well.

In fact, the mens 4 x 400m relay didnt compete.

But in the 4 x 200m, the team of Cliff Resias, Stephen Newbold, Anthony Adderley and Shavez Hart advanced to the final with a second place in their heat in 1:22.40 for the sixth fastest time.

However, in the final, the team of Resias, Newbold, Adderley and Rico Moultrie didnt finish.

BAAA president Drumeco Archer confirmed that the Bahamas will not be going to Poland because it doesnt have sufficient athletes available to compete.

We didnt have athletes who are available to compete, Archer told The Tribune. Shaunae (Miller-Uibo) and Steven (Gardiner) camp indicated that they have decided not to travel outside of the US because of COVID-19.

And a lot of our elite athletes are still in university and college, who are not going to be released from their duties. So, we thought it would be prudent for us not just to take a team for teams sake. If were going to take a team, we will take a team that will have an impact.

World Athletics has released a statement indicating that 127 relay teams from 37 countries will compete in Silesia.

Archer said its disappointing that the Bahamas wont be represented.

When asked how he feels World Athletics will take it, he noted that he cant speak for World Athletics, but it was not for a lack of trying to get a team into Poland.

We have done all we can to get the athletes to compete, he said. I cant speak for Shaunaes or Stevens camp. We have always asked for their participation. We have communicated with their management team for them to compete under the banner of the Bahamas, particularly for relay duties.

They are two global beaters, and they certainly make a difference. We have expressed our concerns at every level, management and personal, for them to compete in the relays. The decision ultimately rests with them. They will have to decide if they are going to compete or not.

With the Olympic Games as the biggest sporting spectacular on the calendar this year after it was postponed last year, Archer said he know that the athletes are preserving themselves to travel to Tokyo, Japan to compete.

The Olympic Games is the big dance and from all indications, you can see that the athletes are ready to run, those at the collegiate level and the professionals. They are all doing very well, Archer said.

The Olympic Games have been rescheduled for July 23 to August 8 in Tokyo. The event comes under the auspices of the Bahamas Olympic Committee, who have indicated that all systems are for Team Bahamas to compete.

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No Bahamas team for the World Relays - Bahamas Tribune

NASSAU, BAHAMAS Residents in South Beach New Providence experienced a tornado yesterday, according to meteorologists, after waterspouts were spotted in eastern and western New Providence as well as in waters around Eleuthera.

Waterspouts occur over water, however, once they make landfall they are considered tornados.

Craig Lowe, founder of the Storm Intercept Weather Network, told Eyewitness News the organization received information about adverse weather activities in the Marshall Road area and a team was sent out to investigate.

Lowe said: Weve conducted a survey with our disaster assessment team. Based on the initial report that we have right now, the event that occurred on Marshall Road was in fact a tornado.

He explained that initial information showed that the system started over water in the marshland before it made landfall into the dry area of the marshland.

Lowe said the team continued to dissect the matter and consult the Department of Meteorology, which for its part advised a frontal system that was spawning severe thunderstorm cellswas tracking across the northwest Bahamas.

We have concerned reports of not just them (thunderstorms) in the Caves area but in the eastern part of New Providence where the cell was, as well as in Eleuthera, where another waterspout was spotted, said a Met Department spokesperson.

According to the department, the severe thunderstorms and adverse weather, including the waterspouts, are expected to subside sometime today.

The cold front is slowly moving toward the southeast, the spokesperson said.

You do have some instability that is still within the area of the cold front. So, if the bounds of the cold front itself continue to move southward, we will still have those events that will occur until it starts to weaken across the central Bahamas.

Mariners in the northwest Bahamas have been advised to remain vigilant due to the threat of possible waterspout activity.

Bahamas Power and Light (BPL) was also impacted as a result of weather conditions yesterday.

The power company advised that customers in the Winton area in eastern New Providence experienced brief outages due to a lightning strike.

BPL said an on-team site was also investigating outages in the western area but that power supply was restored to those areas by the afternoon.

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TURBULENCE: Parts of Bahamas see tornados and waterspouts - EyeWitness News

The chairman said the plans unveiled today will reset the company and its capital structure, including a new 6.9mln equity raise

() said it will convene an extraordinary general meeting and reveal a number of material changes to the business including a 6.9mln capital raise, a new chief executive,and a rebrand to Challenger Energy Group PLC.

Challenger Energy will in the near-term focus on cashflow and production whilst managing a cost cutting initiative to reduce its operational cost by at least 20% to 30%.

Eytan Uliel, currently commercial director, will become the companys new chief executive and Simon Potter is to transition to a non-executive director role, effective from May 20.

The company is to raise 6.9mln with an open offer to qualifying shareholders, issuing some 1.96bn new shares priced at 0.35p. Shareholders will be able to buy 1 new share for every 2.46 shares they hold. Any shares not taken up will be sold to institutional investors at the same price.

The equity issue will be followed by a 1:10 share consolidation.

"The company is focussed on restoration, renewal and refreshment, said chairman Bill Schrader.

In this context, the company's forward business strategy for the coming 12-18 months has been firmly set, on significantly increasing oil production and thus cashflow from our assets in Trinidad and Tobago and Suriname, which the board considers to be the most effective manner in which to restore value and create a foundation for future value growth.

Much of the detail in Challengers operations have previously been announced.

The Saffron-2 appraisal well, in Trinidad, will be a highlight as drilling gets underway in May or June.

The well is budgeted to cost US$3mln and is expected to yield 200 to 300 barrels of oil per day (bopd), to generate US$1.8mln to US$2.6mln of cashflow per year and set up a full-field development programme which could establish a base of 1,000 to 1,500 bopd, for US$8mln to US$12mln per year.

A longer term development of Saffron would comprise up to 30 wells to achieve peak production of around 4,000 bopd, it noted.

Separately, an appraisal well at the Weg Naar Zee project in Suriname is slated for July, budgeted at US$0.7mln, to potentially tee up an initial development producing 100 bopd for US$1mln of cashflow per year. A longer term development scenario is projected to generate more than US$2.5mln per year.

Challenger will also continue its schedule of ongoing production maintenance and enhancement work in Trinidad and Tobago where five producing fields currently average production between 450 and 500 bopd, for US$3mln of annual cashflow.

The company said it intends to continue low-cost exploration activities meanwhile a farm-out is sought for the groups Bahamas asset.

In Uruguay, the company is conducting initial technical work and in the future it will consider options to farm-out a stake in the project.

Along with the chief executive switch, the company will also see non-executive directors Adrian Collins and Ross McDonald step down, and, Stephen Bizzell will join.

I would like to welcome both Eytan Uliel and Stephen Bizzell on their prospective appointments to the board, as respectively CEO and non-executive director, Schrader said.

Shareholders will already be familiar with the contribution of Eytan to the organisation over the last seven years, and Stephen is highly credentialled in the industry, having successfully assisted many similar companies with significant capital raisings and transformational corporate transactions, as well as having actively supported the funding of this company for the past two years.

Simon Potter stays with us as a non-executive director, where his skills and experience remain available to the organisation.

The chairman added: Taken together, the steps being announced today represent what the board considers to be a coordinated approach to charting a viable and value-restorative future course for the company.

Eytan Uliel, chief executive designate, meanwhile, said: Our company has a diverse full-cycle portfolio of production, development and exploration assets.

The work program for 2021 and beyond is busy, and contains many value triggers.

The re-set proposed today will enable us to get after that value, through building production and cashflow. I am excited by the prospect of leading Challenger Energy Group, and I look forward to engaging with all our stakeholders over the coming months."

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Bahamas Petroleum to reset and rebrand as Challenger Energy Group - Proactive Investors UK

By ohtadmin | on April 21, 2021

The airline revealed in a statement on Wednesday that beginning in May, it is introducing new non-stop Saturday flights between Austin and Nassau.

As international demand has been slower to recover, Americans international capacity will be down approximately 20 per cent compared to the same period in 2019. The airline remains committed to serving as many international destinations as possible and will continue to offer more flights to more destinations in Latin America and the Caribbean than any other airline,American Airlines stated.

American is using wide-body aircraft to match demand from Miami International Airport (MIA); thus, short-haul markets in Latin America and the Caribbean will see select flights operating on Boeing 777s and 787-8s this summer.

American Airlines resumed regular flights to The Bahamas last October from MIA to Eleuthera, Freeport, and George Town.

The airline also flies to Nassau from Dallas, Philadelphia, Charlotte, Los Angeles and Boston, among others.

Flight trends, based on destination searches for flight bookings, have shown a steady increase in travelers interest in The Bahamas, with Kayak.com showing a more than 30 percent improvement in March and April over December 2020.

Earlier this month, Minister of Tourism and Aviation Dionisio DAguilar said March was the busiest month for travel to The Bahamas since the start of the COVID-19 pandemic, based on the approximately 60,000 travel visas approved by the ministry.

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American Airlines announces service expansion to The Bahamas | New York Carib News - NYCaribNews

NASSAU, BAHAMAS MSC Cruises is giving serious consideration to homeporting in The Bahamas, according to Tourism Minister Dionisio DAguilar, who noted that the company was completing its due diligence and would likely indicate soon whether it will proceed with such an arrangement.

DAguilar told Eyewitness News: There is another cruise company that is seriously looking at using The Bahamas to homeport and that is MSC and they are sort of finishing their due diligence and will probably be in position to say whether its a go or no-go very shortly.

We have Crystal Cruises and Royal Caribbean already and right now MSC is seriously considering doing it if they havent already made the decision.

Crystal CruisesLuxury Bahamas Escapes will cruise July through October, with anitinerary that includes visits to Harbour Island, Great Exuma, San Salvador Island and Long Island.

Royal Caribbean received approval from the government to homeport Adventure of the Seas in Nassau through mid-September.

DAguilar said the homeporting arrangement has been deemed low-risk in light of the fact that all passengers and crew aboard the vessels will be required to be vaccinated.

This is not a decision that the Ministry of Tourism made in a bubble and we feel that the risk is relatively low given the vaccination status of passengers and crew, said DAguilar.

Obviously that is a bright spot in the tourism rebound.

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GAINING MOMENTUM: MSC Cruises could be third major cruise line this year to start homeporting in The Bahamas - EyeWitness News

Criminal Penalties: You are subject to local laws. If you violate local laws, even unknowingly, you may be expelled, arrested, or imprisoned. Individuals establishing a business or practicing a profession that requires additional permits or licensing should seek information from the competent local authorities, prior to practicing or operating a business.

Furthermore, some laws are also prosecutable in the United States, regardless of local law. For examples, see our website on crimes against minors abroad and the Department of Justice website.

Drugs: Marijuana and all products that contains its derivatives such as cannabidiol (CBD) and tetrahydrocannabinol(THC) -- to include gummies, oils and other edible products -- are NOT legal in The Bahamas.Having a prescription or medical card for cannabis/marijuana does not exempt you from being prosecuted under Bahamian law, which makes no distinction between medical and recreational use of marijuana.

The possession or use of illegal drugs, including marijuana, cocaine, and ecstasy, is a criminal offense in The Bahamas and can result in time in prison. While visiting The Bahamas, you are subject to Bahamian law.Drug violators are regularly arrested, even for possession of small quantities. All persons 16 years of age or older in The Bahamas are tried as adults in court. If you are arrested for drug possession, you should expect to spend at least one night, and possibly longer, in custody. Stay away from drug traffickers, who may be often armed and violent. Do not accept packages from people you meet during your stay.

Arrest Notification: If you are arrested or detained, ask police or prison officials to notify the U.S. Embassy immediately. See our webpage for further information. Travelers should also be aware that Bahamian laws do not include a right to a public defender in lower courts. Any legal representation is at the expense of the visitor.

Faith-Based Travelers: See the following webpages for details:

LGBTI Travelers: There are no legal restrictions on same-sex sexual relations or the organization of LGBTI events in The Bahamas.

See our LGBTI Travel Information page and section 6 of our Human Rights report for further details.

Travelers Who Require Accessibility Assistance. Accessibility and accommodations in The Bahamas are very different from in the United States. Newer buildings, especially in tourism-centric areas are accessible, but many older buildings are not.

Students: See our Students Abroad page and FBI travel tips.

Women Travelers: See our travel tips for Women Travelers.

For more information aboutcustoms concerns,boating, andwildlife, please visit our website.

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The Bahamas International Travel Information

Bahamas Vacation Packages

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The Best Bahamas Vacation Packages 2021 - Tripadvisor