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Bahamas Grossing Millions From Film Industry
January 14, 2004
 The
Bahamas Film Commission will bring
in at least $20 million in revenue this year from numerous
projects including two
major movies being filmed in The Bahamas. Mr. Craig Woods,
who heads the Commission in an address at the Nassau East
Rotary Club´s weekly meeting yesterday, told his audience
that the Ministry of Tourism´s Film Commission had
renewed its efforts to make The Bahamas a location of choice
for Hollywood producers and directors. Mr. Woods
said that the Bahamas Film Commission, which was first established
in 1986 as the Film Bureau, is working to have at least two
major films made in The Bahamas each year. Additional projects
so far this year were 22 advertising commercials, 10 aerial
shoots for product placement, 12 documentaries, six editorials,
46 Fashion shoots, four music videos, 40 photo shoots, four
travel documentaries, 33 television shoots, 20 underwater
shoots and 21 video shoots. He said other initiatives included
getting Reality Television Shows and network programmes shot
on location in The Family Islands and Grand Bahama.
College Of The Bahamas To Get State-Of-The-Art
Library
January 14, 2004
President of The College of The Bahamas,
Dr. Leon Higgs signed a contract with ARConcepts architectural
firm on Monday
for the construction of a $9.5 million state-of-the-art library.
Construction is predicted to start during the summer and
involve multiple phases, which will cost more. Dr. Higgs
said he was extremely pleased about the undertaking and added
that the library is crucial to the 30-year-old academic institution,
which is continuing to further develop its programs, moving
closer to becoming a full-fledged university. He said the
library would house, in addition to the regular reference
and study areas, a number of special collection areas. One
of those areas will feature a historical overview of the
college and another will feature the life of former Prime
Minister Sir Lynden Pindling.
Abaco Markets Raises 5.5 Million
In New Funding
January 14, 2004
Ms. Davis-Baptista, the company´s
Communications manager confirmed that the company had in
fact raised $1.2 million
more than the $4.3 million target. The funds, $3 million
of which was guaranteed by the board of directors are above
the minimum $1 million that president David Thurlow had said
needed to be raised to make the exercise worthwhile. Ms.
Baptista said they were “very pleased with the results.” She
said that the funds provided the company with “greater
flexibility in doing those things that we wanted to do like
paying down debt and providing operating capital."
Kerzner's Phase III On Schedule
January 13, 2004
 Mr. Booker said phase three is divided
into three different segments, which began last year with
an extension to the
Ocean Club, to be followed with the construction of a Marina
Village and the construction of an additional 1,200 hotel
rooms. Some 200 locals were hired for the $20 million Ocean
Club project and an additional 400 are expected to be hired
for the Marina Village construction, he said. Upon completion
of phase three, the resort will become a major competitor
of the Walt Disney Enterprises, Sol Kerzner said at the ground
breaking last September. He said thousands of tourists are
expected to visit Atlantis, now dubbed "the largest
resort in the world."
Wyndham Alliance Boosts Resort
January 13, 2004
 A
strategic alliance between Wyndham International and Viva
Resorts promises to help boost tourism
in Grand Bahama. This
alliance would raise the profile of the 276-room Viva Wyndham
Fortuna Beach in core US markets and capitalize on an already-established
Italian segment. Ettore Colussi, president and founder of
Viva All Inclusive Resorts, said Phase I of a $2 million
renovation was completed at the Grand Bahama all-inclusive
resort just in time for a strong holiday season. The hotel
achieved 100 per cent occupancy levels for the weeks surrounding
the Christmas and New Year period, with room rates averaging
about $100 per night. Under the 10-year partnership agreement,
finalized in early December, Viva¹s seven properties,
including resorts in the Bahamas, Mexico and the Dominican
Republic, have been re-branded as Viva Wyndham Resorts and
incorporated into the Wyndham portfolio. Of all the Viva
properties, Fortuna Beach has the greatest share of US visitors.
Rich Cortese, vice-president of Wyndham International for
the Caribbean, said 2003 had been an outstanding year for
the Wyndham brand as far as occupancy levels and room rates
were concerned.
Franchises Popular With Bahamian Entrepreneurs
January 13, 2004
 Always willing to test their entrepreneurial skills, Bahamians
are now riding the wave of franchising, which is fast becoming
the more popular choice for people wishing to operate their
own businesses. Last year alone, The Bahamas welcomed the
entrance of several new franchise operations including Papa
Johns, Quiznos and more recently the returned Burger King.
According to IFA, international franchising has been successful
because consumers around the world recognize famous brands
as symbols of quality, consistency, service, and value.
Ministry of Tourism's Recently Launched
Website, Bahamas.com, A Success
January 13, 2004
Bridgette King, the Ministry's
national director for the US market, told The Tribune yesterday
that marketing
and a continuing education programme for strategic partners
were key elements in boosting the Bahamas' tourism profile
in target markets during 2004. They were also intended to
generate increased bookings for resort properties, particularly
as competing destinations within the Caribbean looked to
develop their product. The Ministry is banking on its Bahamas.com
website to give visitors a thirst for more in relation to
this nation and the variety of experiences its different
islands can provide, Ms King said, with preliminary figures
showing the site had generated more than $250,000 in bookings
during the first six weeks of operation. She added that the
website presented the Bahamas with a unique opportunity to
speak to the world, distributing information and offering
a multi-dimensional view of various Bahamian islands.
Global Equities Lists Funds On BISX
January 12, 2004
 Global Equities Management S. A.
officially introduced the four emerging market funds listed
on The Bahamas International
Securities Exchange, at a Listing Reception held at the British
Colonial Hilton, Friday. The four funds, the Emerging Value
Opportunities Fund Ltd, the Gazinvest Fund Ltd, the Ukraine
Value Opportunities Fund Ltd and the Post Communist Opportunities
Fund Ltd have a combined net asset value (NAV) of USD$100
million and are licensed with The Bahamas Securities Commission.
The funds were listed just before the close of 2003. "The
BISX Mutual Fund Listing Facility is proving to be an attractive
vehicle for mutual fund listings, and we continue to receive
inquiries from attorneys and mutual fund administrators both
locally and internationally. We expect to hit the ground
running in 2004 with even more new business for BISX and
The Bahamas."
Pauline Davis-Thompson Receives Prestigious
Awards
January 12, 2004
 Because of what she had done for
and in sports, the 37-year-old Olympic medalist has received
one of the Commonwealth's highest
awards, and is one of four Bahamian to receive of the Order
of the British Empire (OBE) honourees in the Queen's 2004
New Year's Honours. Also, in July, 2001, at Government House,
Davis-Thompson received the Bahamas Order of Merit award,
which was bestowed upon her by then governor general Sir
Orville Turnquest. The award which commenced in 1996 was
designed as a national honour for persons whose enterprise
and effort added to the greatness of the Bahamian nation.
One week prior to receiving that honour, Davis-Thompson was
awarded the Sir Lynden Pindling Award for Excellence. She
was also recognized by track and field's greats for what
she has done in the sport and continues to do, even in retirement
from active competition when they elected her to the International
Association of Athletics Federations women's council, (August
2003) with the mandate of helping to mold the Olympic highlights
of the next generation of women. Davis-Thompson, the country's
original "Golden Girl" can also boast of being
the first Bahamian to win an individual Olympic medal on
the track; a silver in the 200 metres, won at the 2000 Sydney
Games.
BFSB To Keep Bahamas Competitive
January 9, 2004
 The
promotional activities of the Bahamas Financial Services
Board in 2004 will continue
to focus on issues and markets
that offer members and the country the best return on investment.
Wendy Warren said The Bahamas must be vigilant of ongoing
international initiatives as they relate to financial centres.
Second,
it reinforced the need for the country to continuously examine
and refine its products and services to ensure they remain
competitive in the face of shifting and more demanding international
standards. And, third, it underscores how vitally important
it is for open and continuous dialogue between private and
public sectors. "We see BFSB continuing to play a vital,
catalytic role in each of these areas," Ms. Warren said.
Economy Stabilised In 2003
January 2, 2004
 In 2003 the government partnered with several agencies in
an effort to determine the most effective way of transforming
the country over the next four years by allocating an estimated
$100 million for sustained economic growth. The government
anticipates that the start of significant foreign investment
projects in the hotel sector should boost construction output
in 2004. In the financial sector, quarterly developments
were dominated by the $200 million external bond issue, which
financed a reduction in the banking system's net claims on
government, a decrease in the system's net foreign liabilities.
Continental to service Family Islands
December 19, 2003
 Continental Connection began direct service with three weekly
flights from Ft. Lauderdale into The Bight, Cat Island. This
latest destination brings the number of destination in The
Bahamas serviced by Continental Connections to nine. Other
destinations include Nassau, Freeport, Marsh Harbour and
more recently Governors Harbour, Eleuthera and George Town,
Exuma. Continental Connections now serves more destinations
in The Bahamas than any other airline. The commitment by
the Ministry of Tourism to assist with marketing and other
related activities served as the final stimulus to initiate
service. Mr. Hackett revealed that advertising and promotions
for the newest destination would be targeted at the Florida
market as well as globally using Continental Airlines reservation
centers.
Island School To Award Environmental Scholarship
December 18, 2003
 Bahamian students who are enthusiastic
about the environment can now apply to attend The Island
School in Cape Eleuthera,
in keeping with the naming of a scholarship in honour of
the Environmental Ambassador Keod Smith. Christopher B. Maxey,
director of The Island School in Cape Eleuthera, said at
a recent press conference in the committee room at the House
of Assembly, "We are here to launch a scholarship opportunity
for Bahamian students in Nassau. The Island School is a semester
programme and this scholarship opportunity would first be
granted, awarded for either the Fall of 2004 or the Spring
of 2005 to a deserving student." The programme runs
for three months and accepts students who qualify between
the ages of 15 and 19 years of age.
News compilation services provided
by BahamaSource
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