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The proposed Employment Act reforms could send the construction industry “into another tailspin”, the Bahamian Contractors Association’s (BCA) president warned yesterday, adding that they would inevitably increase costs for consumers.
A well-known retailer locked in a Supreme Court battle with the Grand Bahama Power Company (GBPC) yesterday dismissed the report on its metering/billing practices as “fluff” and a whitewash, although he and the island’s major industrial players would accept a one-third reduction in electricity rates.
THE Bahamas should be able to double airlift from Latin America in two years, the Ministry of Tourism’s director general said yesterday, adding that visitors from the region should grow to nearly 6 per cent of total arrivals in three years.
Trade unions yesterday urged that the Employment Act be changed to treat workers and their severance pay as leading, secured creditors when their employer goes into liquidation/bankruptcy, thus preventing a repeat of the “absolutely catastrophic and devastating” City Markets situation.
In 1991 I wrote my first book. It was a book on jujitsu, which is a martial art. Since the first month it was published, someone, somewhere, has bought at least one copy of one of my jujitsu books every month. At last count it has been sold in 30 countries. Last month, someone from Singapore bought a book. While these sales have certainly not happened in quantities to make me rich, it has afforded me some margin of international fame and enabled me to travel all expenses paid to a number of countries I might otherwise not have gone to.
More than 60 teachers have spent a week volunteering their time to learn about over 1,000 different types of careers in the tourism industry via an initiative between the Bahamas Hotel Association (BHA), the Ministry of Education, and the Ministry of Tourism.
Bahamian retailers are losing sales by not having adequate language skills in their business, a Bahamas Hotel Association (BHA) executive saying yesterday that “they are literally letting money walk out of the store”.
Grand Bahama Power Company yesterday said it had changed its method for estimating customers’ electricity bills, adding that these only accounted for 3 per cent of total monthly billings.
A trade union leader believes employers are “overreacting” to proposed Employment Act reforms, telling Tribune Business the changes would not create “a financial situation” and instead be “cheaper” for Bahamian companies in the long-term.
Some 13 Bahamian jobs will be lost through a shipping line’s closure, although the Nassau Container Port’s chief executive yesterday said its 15 per cent market share would be absorbed by other carriers.
A BISX-listed bank yesterday said fee income would account for 50 per cent of its revenues by 2017, after opting to “bite the bullet” on loan loss provisioning and incur a $389,000 third quarter net loss.
Baha Mar yesterday said its six-week temporary closure of the Wyndham Nassau Resort and Crystal Palace Casino at the tourism cycle’s “lowest point”, a move impacting around 1,000 employees, will alleviate the “tremendous pressure” caused by underperforming business levels and nearby construction.
Brokers said yesterday that upgrading Customs procedures to an automated system would add greater efficiency to the way they do business, one telling Tribune Business that there were many things the revenue collector had to “come up to speed” on.
A Freeport- based attorney said yesterday that “deficiencies” in Grand Bahama Power Company’s (GBPC) metering and billing practices were “not surprising”, and called on the Government to get involved in the matter.
The Government is losing $66 million in revenues annually due to inefficiencies at Bahamas Customs alone, the situation also placing tourism industry profitability and foreign direct investment (FDI) inflows “at risk”.
Summit Insurance, the Bahamian general insurance underwriter, has confirmed to Tribune Business that it has purchased the former CLICO (Bahamas) branch building on Sears Hill as the site for its new head office.
A 15 per cent reduction in the Government’s import duty collection costs is being targeted over the next five years, along with increasing the proportion of taxes/duties paid electronically from zero to 80 per cent.
A well-known Freeport food retailer is now challenging its more than $40,000 monthly electricity bill in the Supreme Court, a move that comes after a report uncovered “16 deficiencies” in Grand Bahama Power Company’s metering and billing practices.
Trade unions are again pushing for an International Labour Organisation (ILO) convention allowing workers to join the union of their choice to be ratified into Bahamian law, with the Minister of Labour having shown “willingness” to do just that.
Some years ago, companies were facing the all-important question of whether or not to take their business online or not.
MINISTER of Financial Services and Investments, Ryan Pinder, is actively targeting the London financial services market for business opportunities, telling Tribune Business the UK capital can act as a gateway to clients throughout the world.
Crowds gathered outside the Bahamas Telecommunications Company’s (BTC) Bay Street prior to opening on Saturday morning in a bid to become the first owners of the Samsung Galaxy SIII.
MEMBERS of the Coconut Grove Business League (CGBL) are now pushing for a meeting with Prime Minister Perry Christie in a bid to reverse the one-way traffic system on Baillou Hill Road and Market Street, a spokesman for the group telling Tribune Business: “The natives are getting restless.”
Bahamas First Holdings’ agency business is “getting close to 50 per cent” of the general insurance group’s total Bahamian revenues, its chief executive yesterday telling Tribune Business this share would receive another boost from the latest acquisition.
CLICO (Bahamas) liquidator is examining whether to sue its Trinidadian principals over the company’s collapse, his US attorney yesterday confirming to Tribune Business that the insolvent insurer had gained the protection it wanted from an affiliate’s “harassment”.