LifestyleTravel Signs of recovery, growth in tourism, says Bahamas PM by: – January 24, 2012 Tweet Share Prime Minister Hubert Ingraham speaking at the 30th Anniversary of the Caribbean Marketplace on Sunday night. Photo: Kyle Smith/Nassau GuardianNASSAU, Bahamas — Noting the growth in tourism towards the end of the last quarter in 2011, Bahamas Prime Minister Hubert Ingraham projected that the industry would see even greater improvements this year in the region.Prime Minister Hubert Ingraham speaking at the 30th Anniversary of the Caribbean Marketplace on Sunday night. Photo: Kyle Smith/Nassau Guardian“We begin 2012 with the hope that this year will mark a distinct point of recovery and return to sustained growth for tourism in our region,” he said during the opening ceremony of the Caribbean Hotel and Tourism Association’s Caribbean Marketplace event on Sunday night at the Atlantis resort on Paradise Island in The Bahamas.“We believe that early signs of improvement are evident. In The Bahamas, we saw a robust uptick in arrivals since November last. By a number of measures, this past December was particularly good for the fourteen major Nassau and Paradise Island hotels.“For the second year in a row since the Great Recession, room occupancies, average daily rates and room rates were up last year. Perhaps most encouraging has been that visitors are spending longer periods with us and reporting improved levels of customer satisfaction.”Ingraham said the successes in tourism are partly due to the steps that the government took to revamp the tourism product during the slowdown. He was referring to the redevelopment of the Lynden Pindling International Airport, which is a part of a $410 million three-phased upgrade and expansion project; the Airport Gateway Project; the Nassau harbour dredging project; the New Providence Road Improvement Project, among other infrastructural upgrades.“Our infrastructural improvement campaign has had a double benefit. We are putting in place critical infrastructure that will have long term value. Secondly, we are creating employment and business opportunities during recessionary times. This has offset some of the fall-off in private sector activity,” Ingraham said.The prime minster also noted that the $52 million harbour dredging project was repaid from incremental cruise passenger taxes in two years. He added that the incremental spending by new cruise passengers alone exceeds $40 million per year.The harbour dredging project also produced the material needed to expand cargo port facilities at Arawak Cay. The port, which is still under construction, is expected to be operational by March.Already cargo is being shipped to Arawak Cay instead. Ingraham noted that the removal of commercial cargo traffic from Bay Street will further enhance the ambiance of Nassau. Additionally, Ingraham said the completion of the historic straw market, which was destroyed by fire in 2001, has also added to the attractiveness of Bay Street.“This essential work in the downtown area is being accomplished through strong a partnership between the public and private sectors. We have a renewed appreciation for this partnership, and the trend of rebranding hotel associations as hotel and tourism associations hints at a newfound appreciation for wider partnerships beyond hotels and throughout the region,” Ingraham continued.In addition to the work in New Providence, Ingraham said necessary upgrades and infrastructural development is continuing in the Family Islands, to ensure that those islands are also well-positioned to benefit from the turnaround in the global economy.Caribbean News Now 31 Views no discussions Share Share Sharing is caring!
Loading… The fight is a classic clash of styles, pitting Wilder’s devastating knockout power against the more elusive, mobile defensive style of Fury. In their first fight in Los Angeles, Fury recovered from two juddering knockdowns to claim a draw, miraculously climbing off the canvas in the 12th round to hang on for a share of the spoils. Once the final bell rang, the judges ruled it a controversial split draw: 114-112 for Fury, 115-111 Wilder and 113-113. Wilder will be making the 11th defence of his title in an attempt to break a tie with Muhammad Ali for consecutive heavyweight defences. Read Also: Fury, Wilder to earn over $25m ahead rematch He demolished Dominic Breazeale in one round last May, and then scored a spectacular one-punch seventh-round knockout of Cuba’s Luis Ortiz in November. Fury has promised to take a more aggressive approach this time around. But cuts are a worry after he required more than 40 stitches to patch up a horrific gash over his right eye in an unimpressive win over Otto Wallin in his last fight in September. FacebookTwitterWhatsAppEmail分享 American boxer Deontay Wilder will be at a career high weight, but will still be 42 pounds lighter than Tyson Fury for their much-anticipated heavyweight rematch at the MGM Grand Hotel in Las Vegas. British fighter Tyson Fury gestures towards American champion boxer Deontay Wilder during their weigh-in at the MGM Grand hotel in Las Vegas, Nevada Wilder weighed in at 231 pounds (105 kg) and Fury tipped the scales at 273 pounds on Friday as both boxers weighed in much heavier than they did for their first fight 14 months ago. Wilder is 18 pounds heavier and Fury added 15 pounds to his frame. Organizers cancelled Friday’s face-to-face photo op at the weigh in after the fighters exchanged shoves during the final news conference on Wednesday. But the pair did jaw at each other from a distance on the podium. “That’s my belt. That’s mine,” Fury yelled at Wilder, who holds the WBC heavyweight title. The two will square off in one of the biggest heavyweight fights recent memory Saturday at the MGM’s Grand Garden Arena. Tickets for Saturday’s bout have been changing hands for up to $11,000, while promoters predict the event could generate more than 2 million pay-per-view sales in the United States alone. At the centre of the action are two of heavyweight boxing’s most charismatic and skilful protagonists, the hard-hitting “Bronze Bomber” Wilder and Fury, the eccentric, self-styled “Gypsy King” from northern England. Both men will be taking unbeaten records into the 12-round contest, with the 34-year-old Wilder looking to add Fury’s name to a tally which reads 42-0 with one drawn and 41 knockouts. Promoted Content8 Addictive And Fun Coffee Facts7 Of The Wealthiest Universities In The WorldThe Very Last Bitcoin Will Be Mined Around 2140. Read More6 Ridiculous Health Myths That Are Actually TrueThese Maisie Williams Facts Are Bound To Shock You6 Incredibly Strange Facts About Hurricanes6 Best Movie Cars You Could Own But Probably Can’t AffordThe Models Of Paintings Whom The Artists Were Madly In Love With7 Universities In The World With The Highest Market Value7 Thailand’s Most Exquisite Architectural WondersCan Playing Too Many Video Games Hurt Your Body?14 Hilarious Comics Made By Women You Need To Follow Right Now
The Central Bank of Liberia (CBL) has been summoned by the House of Representatives over the lack of stability of the exchange rate between the United States (US) and Liberian dollars at commercial banks and money exchange bureaus, including the CBL.The CBL Executive Governor, Milton A. Weeks, will also explain the significant depreciation of the Liberian dollar on the exchange market and provide a stimulus plan to improve the exchange rate to the U.S dollar.The Liberian dollar is currently trading at L$97 to US$1.Nimba County District # 2 Representative Prince O.S. Tokpah, who is also the Chairman on the Committee of Internal Affairs, earlier complained that the disparity between the CBL and commercial banks is causing difficulties and embarrassment to the over 300,000 civil servants, most especially in settling their financial obligations to their creditors.“Distinguished colleagues, many of these employees of government are indebted to Commercial Banks and individual loan providers who are now facing difficulties in settling their obligations in that the Central Bank is providing payment of allowance at L$91 for US$1, while Commercial Banks and loan providers are demanding payment at L$97 for US$1 rate,” Rep. Tokpah wrote.The floating US currency has greatly affected prices of basic commodities that are mostly sold in Liberian dollars, which traders have to purchase in US dollars on foreign markets. To compensate for the loss in value in the Liberian dollar when exchanged to United States dollar, it’s an open-secret that traders increase the prices of their commodities, leaving consumers to feel the pinch. Moreover, due to the absence of L$1 (one Liberian dollar) denominations in the local currency, the rate of L$97 to US$1 gives merchants an extra advantage. Any increment in the prices of products happens in multiples of L$5, causing a steeper hike in prices over time, instead of what would have been agradual L$1 increment. Howbeit, the historic increase in the exchange rate and fluctuations come in the wake of the printing of the L$55m by the CBL. It may be recalled that Montserrado County District # 16 Representative Dr. Edward Forh, of the Congress for Democratic Change (CDC), said the printing of the new money would lead to the depreciation of the Liberian dollar – which is happening now.This would be the second time the new CBL Governor will appear before the House of Representatives since his induction in May 2016. The CBL Executive Director’s first appearance was about the printing of new Liberian dollar bills in the amount of L$55m.The House’s Plenary made the unanimous decision on Tuesday, July 5, during the 42nd Day Sitting. According to House’s Chief Clerk Mildred Sayon, the CBL Executive Governor is expected to stand before the 73-member body on Tuesday, July 12, in the House’s Chambers, at 11:00 a.m.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)