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Tuesday, January 31, 2006


Travel Advisories
The following advisories should be considered when traveling between the U.S. and The Islands of The Bahamas:

Butane Lighters Prohibited on Flights to the U.S.

Effective March 1, 2005, the U.S. Transportation Security Administration (TSA) added lighters to the list of prohibited items that are not allowed past the secure area at U.S. airports on flights to, from, or within the U.S. There will be no change to the screening process in U.S. airports under the new policy. Walk-through metal detector screening and secondary screening will continue according to U.S. procedure. Lighters will be treated as any other prohibited item. Unless a passenger attempts to artfully conceal a lighter, or there are other aggravating circumstances, passengers are unlikely to be fined.

New U.S. Travel Document Requirements

The Western Hemisphere Travel Initiative will require all travelers, including U.S. citizens, to and from The Bahamas to have a passport or other accepted document that establishes the bearer’s identity and nationality to enter or re-enter the United States. This is a change from prior travel requirements. The goal is to strengthen border security and facilitate entry into the United States for U.S. citizens and legitimate foreign visitors. In the proposed implementation plan, which is subject to a period of initial public comment, the Initiative will be rolled out in phases, providing as much advance notice as possible to the affected public to enable them to meet the terms of the new guidelines. The proposed timeline will be as follows:

* December 31, 2006 – Requirement applied to all air and sea travel to or from Canada, Mexico, Central and South America, the Caribbean, and Bermuda.
* December 31, 2007 – Requirement extended to all land border crossings as well as air and sea travel.

Visit the U.S. Department of State's website for more information.

Wednesday, January 25, 2006


Pirates of the Caribbean Getaway

Sheraton Our Lucaya Pirates of the Caribbean Package from $225.05

Yo, ho, ho, and a bottle of rum. Take the entire family to the location where Pirates of the Caribbean II was filmed. Children will love playing in our five pools and searching for pirate ships from miles of white-sand beaches. Adults will enjoy our spa, casino and a package that's worth walking the plank. Set sail now and your package includes:

  • Room rate, taxes, service & resort fees
  • Daily breakfast at Barracuda's restaurant
  • A daily grog (a pirate's rum drink)
  • Pirates of the Caribbean II DVD
  • One pirate's welcome amenity kit
Click here for details and/or to book now!


Westin Our Lucaya Pirates of the Caribbean Getaway

Pirates of the Caribbean Getaway from $249 Relive your youth and let the pirate in your soul run free. Enjoy the breathtaking scenery that was the backdrop for Pirates of the Caribbean II. You'll enjoy losing yourself on miles of white-sand beach, revitalizing you body in our spa, and living the pirate's life in our casino and bars. Sail away now with this package that includes:
  • Room rate, taxes, service & resort fees
  • Daily breakfast at Barracuda's restaurant
  • A daily grog (a pirate's rum drink)
  • Pirates of the Caribbean II DVD
  • One pirate's welcome amenity kit

Click here for details and/or to book now!


Wednesday, January 18, 2006


Selling Romance on Grand Bahama Island
The business of romance is fast becoming a multi-billion dollar industry and the island of Grand Bahama has found a way to cash in on this growing niche market. Exclusive boutique hotels like Old Bahama Bay on the western tip of Grand Bahama and the Pelican Bay at Lucaya have designed alluring wedding and honeymoon packages designed to entice the most discerning palette. From elopement packages that offer couples the exclusivity of an intimate wedding designed just for two, to packages that allow a buyout of the entire resort, brides-to-be can choose from both ends of the spectrum or anywhere in-between.

According to Marva Munroe, organizer of weddings at Pelican Bay, it’s the intimacy of the property that creates the romantic atmosphere couples crave. She estimated that Pelican Bay hosts close to 100 weddings per year. Weddings represent close to 15 per cent of the overall occupancy at the resort. Ms. Munroe feels that most couples are enamored with the idea of a destination wedding because it offers the alternative of inviting only close family friends while simultaneously avoiding the stress and expense that comes along with the lavish at-home-wedding. With the large number of weddings hosted yearly at Pelican Bay, on most days, one will almost always get a chance to witness happy couples excitedly repeating nuptials under the gazebo overlooking the harbour or at another of the picturesque locations throughout the Lucaya resort.

On the other end of the island, Old Bahama Bay, almost a world away, offers couples its own unique charm. With an assortment of junior suites and two bedroom villas that boast owners like John Travolta, Alicia Keyes and Gene Hackman, the resort located just outside West End, Grand Bahama, presents sweeping ocean views of the Atlantic. Director of Resort Sales at Old Bahama Bay, Keith Cooper, noted that the breathtaking beaches were undoubtedly the top pick among couples when it came to choosing a location for their wedding. But for those who preferred something different, there was the gazebo, the pool and many other picture perfect areas that were equally as breathtaking. To add even more panache to the destination wedding experience, Old Bahama Bay created “Weddings by Design” as well as wedding themes like “Croon to the Moon” and “Bahamian Tingum.”

These add-ons, Jennifer Ehrman, VP, Sales and Marketing said, make the experience even more special. Ms. Ehrman revealed that while the majority of the wedding requests received by Old Bahama Bay are for second marriages or from more mature couples, the resort also gets its fair share of young first-timers. Solange Knowles, sister of Beyonce Knowles, tied the knot with college football player Daniel Smith under the Settlement Point gazebo in February 2004. “Making it effortless and making it easy is the key,” Ms Ehrman said noting that this was exactly what Old Bahama Bay prided itself on doing. She added that close to 35 per cent of the occupancy at the resort was as a result of weddings with some couples booking as early as 14 months in advance. A feature she described as wonderful for forecasting group activity.

Both the Pelican Bay and Old Bahama Bay resorts are confident that the rapidly expanding destination wedding market is one their resorts are ideally suited to taking advantage of and are quickly moving towards branding themselves as the leaders in the region for this niche market.

Monday, January 16, 2006


Business: Government Weakens Communist Style "Exchange Controls"
Perhaps one of the most disgusting violations of individual rights of its citizens performed by the Bahamas Government are the communist inspired "exchange controls" -- which reflect the fact that U.S. currency is far superior and preferred by Bahamians to the "official legal tender" of the Bahamas. (Foreigners are pretty much exempt from these controls).

However, the government has decided to slightly loosen the noose somewhat on the Bahamian people -- but not in principle as the government still wants to have the noose ready and in place in case it needs to tighten it.

From a PLP press release:

The government has relaxed exchange control restrictions to make it easier and cheaper for Bahamians to invest abroad and to further open the Bahamian economy, Minister of State for Finance James Smith announced at the Central Bank recently.

He referred to the changes "as new and improved" and said they further reflect the modernization of The Bahamas and the deepening and widening of the capital market, while providing increased access to Bahamian investments in both the local and foreign markets.

One of the key changes is the reduction by half of the premium that Bahamians have to pay when purchasing securities or making real estate investments overseas.

Under the old Exchange Control regime, a Bahamian wishing to invest abroad would buy investment currencies from the Central Bank and pay 25 percent of the investment as a premium. When liquidating the investment and seeking to bring his or her money back into the country, the investor would liquidate the investment at a rate of 20 percent.

"So, effectively, it was going to cost you an additional five percent to invest abroad," Minister Smith explained.

But under the changes the premium bid has been slashed by half to 12.5 percent and the offer bid is now 10 percent.

Existing investors will be permitted until March 31, 2006 to liquidate, should they desire, their original capital investment through the investment currency market at the old offer rate of 20 percent.

Minister Smith also announced that with immediate effect, residents may invest up to $25,000 per family unit, once every 10 years to purchase timeshare units abroad.
The government and the Central Bank anticipate that this measure will accommodate the growing interest of Bahamians in timeshare investments, and generally result in improved statistical information on these transactions.

The new changes will also allow Bahamians employed at offshore or foreign companies to make larger investments in employee stock option/share purchase plans.

Presently, residents employed by offshore and foreign owned institutions in The Bahamas are permitted, in the case of contributory stock options to invest up to $10,0000 per year at the official rate of exchange to purchase such options.

With immediate effect the investment limit is increased to $25,000 with amounts in excess of $25,000 per year to be purchased at the investment currency market rate, Minister Smith said.

He said this change will allow Bahamians to take further advantage of opportunities resulting from their employment, and to enjoy benefits equivalent to those available to their overseas counterparts.

Minister Smith also announced that with immediate effect, the maximum amount that a person may transfer out of the country when emigrating, i.e., taking up permanent residency abroad, is increased from the foreign currency equivalent of $125,000 to $250,000 per family unit at the official rate.

There are also certain changes that will affect temporary residents and permanent residents with restricted right to work in The Bahamas.

Temporary residents are now permitted to borrow up to a maximum of $50,000 for consumer related purposes.

This represents an increase from previous borrowing limits of $15,000 for the purchase of vehicles, and up to $6,000 for defraying local expenses.

Temporary residents who have resided and worked in The Bahamas for at least three years may obtain Bahamian dollar mortgage loans of up to $200,000 to finance owner occupied dwellings.

It was also announced that within prescribed limits and arrangements, resident investors, including individuals, pension funds and institutions, may invest in any company listed on a recognized stock exchange, by way of representative Bahamian dollar denominated securities listed on BISX.

BDRs are essentially instruments that allow Bahamians to buy in Bahamian dollars, stocks traded on overseas exchanges, the Central Bank explained.

It is intended that these BDRs be structured and marketed by local broker/dealers and other securities industry professionals in good standing with the Securities Commission.

Minister Smith said that within prescribed limits, equities of Bahamian companies listed on BISX may now be cross listed on principal CARICOM exchanges; and foreign companies listed on CARICOM exchanges may list issued and outstanding equity securities on BISX.

It was also announced that a maximum of $25 million per annum will be made available for overseas investments by the National Insurance Board.

Financial institutions and other private enterprises designated resident for Exchange Control purposes with no restrictions on their operations in The Bahamas may now investment, within specified limits, in debt and equity instruments of the private sector as well as public sector debt obligations, it was announced.

"We have to allow our economy to further integrate with the global economy and this is one way of doing that, but we have to do so in a measured and gradual fashion. We cannot just eliminate all of the exchange controls one time," said Mrs. Craigg.

Minister Smith, meanwhile, indicated that the relaxation of certain restrictions is a signal that the Bahamian economy is in a strong position at this time.

This is a step in the right direction -- if that direction is the eventual repeal of all exchange controls in order to move the Bahamas toward a capitalist economy. Government's job is to not manage the economy (i.e., destroy it), but to be more of an umpire or policeman that protects the rights of those who produce and trade -- exchange controls are a clear violation of that right.

In a free country, the proper policy in regards to holding and keeping currency would be as follows: if you obtained your money (whether U.S. currency, or otherwise) morally, without violating the rights of others (that is, not through theft or fraud) you have the inalienable right to invest and dispose of your money -- your property -- as you wish (so long as you do not use it to violate the rights of others).

Under a proper government, the laws would be set in place so that government officials would be forbidden -- under the penalty of fines and imprisonment -- from using police powers to control your money that you -- and not they -- worked for. In other words in a free country exchange controls would not exist; because, economically they cripple the economy, politically they are a violation of individual rights, and morally as -- an initiation of physical force -- they are evil.

Saturday, January 14, 2006


Education: The Bahamas Ministry of Education: F+

From the Bahamas Chamber of Commerce report on education:

The BGCSE Report [2004] states “Were it not for the Private schools and a few public High schools in the Family Islands, the Mean Grade for the country would have been an astounding E [rather than D]. This [level of academic achievement] is totally unacceptable.” The Mean Grade for the Public High Schools on New Providence was F+ while the Mean Grade for the Private High Schools on New Providence was D+. Both the absolute levels and the gap between the two are truly disturbing.

Exam Academic: Taken Grade
Mathematics 4,367 E
English Language 4,281 D
Biology 2,705 E+
Religious Studies 1,739 C
Literature 1,153 D
History 841 C
Spanish 761 D+
Chemistry 511 D+
Geography 572 C
Physics 518 D+
Combined Science 413 D+
Economics 400 E+
French 196 D
Total Academic 18,457
Business:
Bookkeeping 664 F+
Typewriting 461 D
Commerce 430 D
Office Procedures 322 D+
Total Business 1,213
Vocational:
Foods & Nutrition 378 C
Art & Design B 363 C
Art & Design A 285 C
Graphical Comm. 209 D+
Carpentry/Joinery 179 C
Music 167 C
Electrical Installation 95 C
Clothing Construction 80 C
Auto Mechanics 46 D
Total Vocational 1,802
Total 21,472 D

Source: Confidential Report 2004, Bahamas General Certificate of Secondary Education, Testing and Evaluation Section, Ministry of Education, Bahamas Government.



 

 

 



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