NASSAU, Bahamas, CMC - Prime Minister Perry G. Christie has outlined measures which he said is aimed at allowing his administration to lower debt and increase the prospects for economic growth in The Bahamas. In a statement outlining the 2012-13 mid-year budget, Christie told legislators that in order to achieve these initiatives, recurrent revenue will be significantly and structurally enhanced through a wide range of measures.
NASSAU, Bahamas, CMC – Prime Minister Perry Christie will address the Bahamas International Investment and Business Forum that begins here on Wednesday. The organisers said that the two-day event has attracted participation from more than 27 countries and is being held under the theme “At the Crossroads of 21st Century Trade and Investment”.
NASSAU, Bahamas, CMC – The Bahamas government says a constitutional referendum planned for the 40th anniversary of independence has been re-scheduled to November. Bahamas gained its political independence from Britain on July 10, 1973. Prime Minister Perry Christie told parliament a request from Constitutional Commission for an extension of its report which must be debated by all nationals before the referendum, has been granted.
NASSAU, Bahamas, CMC – The Bahamas has praised Ireland for its contribution to the development of the Caribbean Community (CARICOM) saying it is also playing a pivotal role in the island’s accession to the World Trade Organization (WTO). Foreign Affairs Minister Fred Mitchell said the establishment of an Irish consulate here will further deepen diplomatic relations between the countries since they established in 2007.
WASHINGTON, CMC - The International Monetary Fund (IMF) is welcoming the “gradual recovery” of the Bahamas economy, supported by a rebound in tourism and ongoing investment projects. However, the Washington-based financial institution said unemployment remains high and that the economy faces “downside risks from an uncertain external environment, while fiscal and external imbalances have widened”.
GEORGETOWN, Guyana, CMC – Caribbean Community (CARICOM) Secretary-General Irwin LaRocque will be paying a three-day official visit to The Bahamas, the Guyana-based CARICOM Secretariat has announced.
It said that LaRocque will meet with Prime Minister Perry Christie on Thursday and will also pay courtesy call on Foreign Affairs and Immigration Minister Frederick Mitchell.
He will hold talks with National Security Minister Benard Nottage, who is also the chairman of the CARICOM Council for National Security and Law Enforcement (CONSLE).
KINGSTON, Jamaica, Observer — The Bahamas government says it is important to develop alternate forms of energy, complaining that the high cost is also impacting foreign investment into the country. These are issues that concern us and let me just state it for you. The cost of electricity is an extraordinary drain and has an extraordinary impact on Bahamian families. We all agree with that," Prime Minister Perry Christie said.
NASSAU, Bahamas - A judge in The Bahamas says that underground gambling businesses on the islands can remain open pending the outcome of a legal battle. Wednesday's injunction came two days after voters rejected a referendum to legalise underground gambling operations known as "web shops", where Bahamians bet on numbers in televised US lotteries. Lawyer Wayne Munroe says he and other attorneys representing the gambling houses are challenging the constitutionality of the country's Lotteries and Gaming Act.
NASSAU, Bahamas, CMC – Less than 24 hours after Bahamians voted overwhelming to reject the legalisation of web shop gambling and a national lottery, the government has called on all operates of such games to close down their businesses with “immediate effect”.
“Failure to do so will leave all such web shop owners, operators and web shop gaming patrons exposed to arrest and criminal prosecution without further notice or warning,” Prime Minister Perry Christie said in a brief statement.
NASSAU, Bahamas, CMC – Bahamians voted overwhelming in a national referendum on Monday to reject proposals legalising web-shop gambling and a national lottery. Preliminary results showed that by a margin of almost two to one, the voters in this Caribbean Community (CARICOM) country voted “No” to the questions on “Do you support the regulation and taxation of web shop gaming and Do you support the establishment of a National Lottery? "This is a victory for the church," said Dr. Ranford Patterson of the Bahamas Christian Council.