Connect with us

Bahamas News

Bahamas Development Bank Poised to Expand Products and Services

Published

on

#Nassau, October 29, 2019 – The Bahamas – The Bahamas Development Bank is presently undergoing a transformation through which it intends to expand its products and services to maximize existing powers under the Bahamas Development Bank Act, 1974.   

The Bahamas Development Bank (BDB) is making efforts to incubate emerging or struggling industries to expand the economy, create moreopportunities and ensure that natural resources will continue to provide for future generations, Managing Director Dave Smith said in his address of the annual Exuma Business Outlook on the topic, ‘Connecting Resources, Maximizing Opportunities: Transforming Exuma.’

He continued: “These kinds of transformative programs have a higher rate of success/sustainability because BDB is able to connect technical expertise, funding, and governmental support through partnerships with international agencies such as IICA (Inter-American Institute for Cooperation on Agriculture, CARDI(CaribbeanAgricultural Research and Development Institute),and various government ministries, departments and agencies such as the Ministry of Tourism and the Ministry of Agriculture and Marine Resources.”

This approach, he said, creates an environment that facilitates the “ease of getting into and/or doing business”through the bank’s favorable credit terms, coordination that reduces barriers and greater awareness of the available concessions under various encouragement Acts.

The 13th annual Exuma Business Outlook was held October 24th at Sandals Emerald Bay resort. The theme for the event was ‘Stimulating Growth: We’ve Made it our Business.’

Providing an overview, Mr. Smith said the bank’s mandate is to advance opportunities for economic empowerment for Bahamians. Established in 1974, he said unlike any other bank in this country it is a developmental finance institution, driven by profit and the responsibility to create positive externalities that support overall national development through economic investment.

During the past four decades BDB has extended credit to hundreds of entrepreneurs in various sectors such as manufacturing, fishing, services, transportation and tourism; played a significant role in building essential inter-island connections and acted as the principal funding agent for mailboat services and more.

 “This kind of facilitation translates into wealth creation, job creation, increased exports and reduced imports, thus transforming and growingour economy,” he noted.

Today, the bank continues to act as a catalyst for economic development providing loan funding for small and medium Bahamian enterprises through partnerships with the Small Business Development Center.

Mr. Smith highlighted the bank’s investment in a number of programmes and initiatives aimed at spurring economic activity across the archipelago.  He cited two examples: the Industrialization of Cascarilla in Acklins, Crooked Island and Samana Cay and an Apiary Programme in Grand Bahama where more than 30 young persons were trained in “bee keeping.”

He advised that a sustainable approach to development that includes climate resiliency for businesses and residents is more necessary since the passing of Hurricane Dorian.

“As we look to rebuild, BDB will champion opportunitiesfor Bahamians that will ultimately enhance our self-sufficiency. In the short term, we are proposing a poultry revitalization project for Grand Bahama and a small ruminant program for Long Island that will combine training, logistics, and market preparedness.  We anticipate that these pilot projects will be duplicated where appropriate,” he said.

Bonefishing tours, fishing boats and equipment, vehicles and taxis, hotels and motels are among the industries that the BDB has extended loans for in Exuma.

He said the bank is working to strengthen partnerships with impactful organizations such as the Chamber of Commerce.

As BDB transforms, Mr. Smith noted: “While our credit extension facilities have supported SME growth across the archipelago over the last four decades, we will increase our efficacy by expanding or activities to include those typically offered in our region by development financing institutions (e.g. capital leases, guarantees, equity positions) in concert with other local development institutions.”

“Further, as BDB continues to be a catalyst for economic development we recognize stakeholder collaboration and partnership, service consistency and communication to raise awareness in the areas of access and opportunity as important axioms for BDB’s success. We intend to be transparent and inclusive as we craft and communicate our progress on specific programs and policies,” he added.

Release: BIS

Photo Caption: Bahamas Development Bank Managing Director, Dave Smith.

Bahamas News

Ayla Isaacs Unveils Transformative Guide Amidst Challenging Times

Published

on

Bahamian author Ayla Isaacs is making an impactful debut in the literary world with her book, “Achieving Optimum Spiritual Health—Transforming Your Wellbeing With Diet, Exercise, and Rest.” As crime rates surge and the aftermath of the pandemic leaving many grappling with hopelessness and a sense of abandonment, Isaacs’ guide offers a beacon of hope and a roadmap for personal transformation, emphasizing the importance of prioritizing spiritual resilience in navigating adversity.

Long-time Bahamian physician Dr. Horizal Simmons says, “Ms. Isaacs not only states the spiritual ingredient that we should use for our therapy, but she also explains how it works in our spiritual system and the beneficial changes that will bring the desired transformation or spiritual health benefits.” Applauding the soundness of the book and paralleling it to physical wellness, Dr. Simmons said he highly recommends it to anyone serious about their spiritual well-being and health.

Isaacs is a highly experienced Project Manager who draws from her background in Civil and Environmental Engineering, International Business, and Christian ministry, whether a physical structure or the wellbeing of an individual’s life. Her published work shows that she strongly believes in building with structural integrity. Isaacs provides readers with a holistic approach to welfare beyond traditional self-help. She explores the transformative power of simple spiritual practices integrated into daily life. Isaacs believes that prioritizing spiritual health can help individuals find inner fulfillment and a sense of purpose, which she believes are essential in combating the prevailing hopelessness.

Coach Gregory Cash, who has spent decades helping to develop great athletes and leaders in the country, believes the unique perspective shared, especially relating to spiritual exercise, can touch the hearts of so many. Wendy Fernander, PhD., a licensed clinical psychologist and president of the Bahamas Psychological Association, noted that too few of us think about our spiritual diet, which results in our spiritual wellbeing. When asked about the book, Dr. Fernander said, “This book will provoke you to do serious soul searching.”

Amid the challenges communities face, Isaacs encourages readers to initiate a positive “me” movement—a focus on self-improvement that, when embraced collectively, can lead to stronger families, churches, and nations. According to Isaacs, strengthened individuals become catalysts for positive change within their immediate circles, creating a ripple effect that extends to broader communities.

Ayla Isaacs, whose roots go back to South Eleuthera, is a founding member of the Smart and Strong Sisterhood (SASS) and the creative mind behind A.I. Paper, a gift-wrapping paper and bag company that celebrates the islands of The Bahamas. Isaacs believes that investing in spiritual wellbeing is pivotal for personal growth and resilience. A conference speaker who is actively involved in church ministries and affiliated with several civic organizations, Isaacs firmly believes in the balance between personal and community wellbeing.

“Achieving Optimum Spiritual Health” is now available on Amazon.com and BarnesandNoble.com in paperback and eBook form and locally at Oasis Bookstore in Nassau. Isaacs encourages readers to embark on a transformative journey and be architects of their spiritual wellbeing. In times of uncertainty, “Achieving Optimum Spiritual Health” offers a guide and a message of hope and empowerment for individuals seeking personal and communal transformation.

Continue Reading

Bahamas News

Tired of Taking Notes? The new Samsung Galaxy S24 Will Transcribe and Summarize Your Voice Notes In A Snap! 

Published

on

 

NASSAU, Bahamas – Faster, smarter and more convenient than ever before, the new Samsung Galaxy S24 will revolutionize your productivity with its new Transcript Assist and Browsing Assist features. In the continuous pursuit of delivering innovative solutions that enhance productivity and user experience, Samsung Electronics is proud to introduce two groundbreaking features: Transcript Assist and Browsing Assist.

The Transcript Assist feature, powered by Galaxy’s advanced artificial intelligence, takes note-taking to a whole new level by enabling users to easily convert voice notes and conversations into useful and accessible notes. Whether in a business meeting, conference, or casual conversation, the Galaxy S24’s Transcript Assist makes capturing information easier than ever.

By utilizing Transcript Assist, users can effortlessly record any conversation with multiple speakers and transform it into a clear and concise transcript with just a few taps. This feature is particularly useful for those who need to keep a detailed record of discussions and decisions made during important meetings or collaborative work sessions.

“With Transcript Assist, we’re redefining the way people take notes and record information,” said Gianmarco Leri, Product Manager at Samsung Electronics. “No longer do you have to worry about missing important details during a conversation. With the Galaxy S24, you can capture every word and turn it into a useful reference that you can easily review and share.”

In addition to generating accurate transcripts, the Transcript Assist feature also offers the ability to generate quick summaries of conversations, as well as the option to translate the entire transcript into different languages, facilitating communication and collaboration among people from different regions and cultures.

On the other hand, the Browsing Assist feature allows users to navigate more efficiently and conveniently on their Galaxy S24 devices by providing intelligent and contextual suggestions during web browsing and online content exploration.

The Galaxy S24, equipped with Transcript Assist and Browsing Assist, marks the beginning of a new era of productivity and convenience in mobile devices. These innovative features demonstrate Samsung Electronics’ continued commitment to providing advanced tools that help people achieve their goals more effectively and efficiently in everyday life.

So, get ready! The new Samsung Galaxy S24 will be coming soon to tech stores in The Bahamas soon.

Continue Reading

Bahamas News

Weather Systems Affect Cuba and The Bahamas

Published

on

Rashaed Esson

Staff Writer

#Weather#Cuba#TheBahamas, March 25th, 2024 – Serious weather struck The Bahamas and Cuba over the weekend, both nations receiving warnings from their meteorological entities. The Bahamas was affected by severe thunderstorms.  In fact, an area of the Carnival Freedom Cruise Ship, which was 20 miles off Eleuthera, Bahamas, caught fire and reports say it was possibly due to a lightning strike.  Fortunately no lives were reported lost.

Meanwhile, Cuba had intense rainfall and hailstorms, resulting in damage to surrounding areas, thousands left without electricity amid fallen trees and Flash Floods.

 

Continue Reading

FIND US ON FACEBOOK

TRENDING