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‘Get out of dark ages’, Gov’t and unions told
* Reformer urges end to worker benefits focus * Calls for more productivity ‘to lift GDP growth’ * And wants wages ‘held’ at current levels
The Department of Labour must “get out of the dark ages” and focus on improved worker productivity if the Bahamas is to enjoy higher GDP growth, a governance reformer urged yesterday. Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that the Labour Department and trade unions needed to stop pushing for increased worker benefits “if we are to lift ourselves out of this socio-economic recession”. Arguing that both were still “singing the same old song”, Mr Myers called for wages and benefits to be “held” at present levels until the Bahamian economy generated improved GDP growth rates.
Police probe like 'sword of Damocles'
By NEIL HARTNELL Tribune Business Editor A Royal Bahamas Police Force (RBPF) investigation is "hanging over our heads like the sword of Damocles", developers of a $40 million Exuma-based real estate project have told Tribune Business, arguing that severa
Police probe like 'sword of Damocles'
By NEIL HARTNELL Tribune Business Editor A Royal Bahamas Police Force (RBPF) investigation is "hanging over our heads like the sword of Damocles", developers of a $40 million Exuma-based real estate project have told Tribune Business, arguing that severa
Police probe like 'sword of Damocles'
By NEIL HARTNELL Tribune Business Editor A Royal Bahamas Police Force (RBPF) investigation is "hanging over our heads like the sword of Damocles", developers of a $40 million Exuma-based real estate project have told Tribune Business, arguing that severa
'Level playing field' urged over Freeport bonded good reform
By NEIL HARTNELL Tribune Business Editor A leading wholesaler yesterday urged that any reforms to Freeport's 'bonded goods' economy create a "level playing field", and not place his firm and others at "a competitive disadvantage" by sucking money out of
BAHAMAS TO BECOME 'CRUISE NO.1' IN 2012
By NEIL HARTNELL Tribune Business Editor The Bahamas is expected to "exceed" and surpass Cozumel as the Caribbean's leading cruise destination if it maintains its current growth rate, the minister of tourism said, with 2011 stopover visitors to this nati
Baha May delay’s 50% cut to growth
Baha Mar’s delayed opening could potentially slash 50 per cent off the Bahamas’ 2015 economic growth forecast, a well-known businessman has warned.
Gov't urged: End 'ridiculous foot dragging' on BEC
The Government has been urged to end its "ridiculous foot dragging" over the Bahamas Electricity Corporation's (BEC) part-privatisation and wider energy reform, as the private sector readies its own study on the issue.
'Five Baha Mars' needed to solve jobless crisis
The Bahamas needs “five Baha Mars going on” simultaneously to achieve the 5.5 per cent GDP growth necessary to slash existing unemployment by 50 per cent and absorb thousands of annual school leavers into the workforce.
Baha Mar casino hotel at '20 storeys' by year-end
By NEIL HARTNELL Tribune Business Editor The casino hotel for the $2.6 billion Baha Mar project could "be as high as 20 storeys" by year-end, Tribune Business was told yesterday, with work on the core "superstructure" 50 per cent complete by that point.
Govt told: ‘Cut inefficient taxes across the board’
The Government was yesterday urged by a leading governance reformer to reduce “inefficient taxes across the board” so that it could make room for potential Value-Added Tax (VAT) rate increases.
Gov't 'dragging on everything'
The Tax Coalition’s co-chair yesterday said there ad been no contact with the Government since the Budget’s unveiling more than a month ago, complaining that the Christie administration was “dragging their feet on everything” vital to the private sector.
Bahamians warned: Brace for post-VAT delinquency cut-off
Bahamians must get used to companies increasingly cutting them off for non-payment due to Value-Added Tax’s (VAT) cash flow impact, a well-known businessman warned yesterday.
Air cargo pull-out threat result of ‘ill thought-out policy’
The threat of a Bahamas boycott by Florida-based air cargo operators was yesterday branded as “the unintended consequences of ill-thought out policy” by the Opposition’s deputy leader. K P Turnquest warned that as an import-dependent economy, reliant on international transportation links, the Bahamian economy could only suffer if freight companies reduced or eliminated services to this nation.
BAHA MAR'S OCCUPANCIES 3-4% ABOVE FORECAST LEVEL
By NEIL HARTNELL Tribune Business Editor While occupancies at Baha Mar's two existing Cable Beach resorts are trending 3-4 per cent ahead of 2012 forecasts, the resort developer yesterday said they had yet to reach "levels considered acceptable", followi
MP fears Baha Mar impact on sovereign rating
An Opposition MP yesterday warned that the Bahamas’ sovereign creditworthiness could be “very negatively” impacted if the $3.5 billion Baha Mar project fails to open within the next three to six months.
S&P: Baha Mar to prevent any outlook upgrade
Standard & Poor’s (S&P) says the delayed Baha Mar opening has eliminated any chance that it will raise its ‘negative’ outlook on the Bahamas, as it prepares to “revise downwards” growth estimates for this nation.
Baha Mar 'close' to $150m spend on Bahamians
BAHA Mar is "close" to investing $150 million with Bahamian contractors for its Cable Beach redevelopment, as it prepares to today launch the $2.6 billion project's 300 luxury Residences to high net-worth buyers from across the world in London.
FAILED BROKER IN '16 REGULATORY BREACHES'
By NEIL HARTNELL Tribune Business Editor The Securities Commission uncovered 16 alleged regulatory breaches during an on-site inspection of Caledonia Corporate Management less than one year before its $25 million collapse, Tribune Business can reveal, th
Bahamas can’t afford ‘another five years’ of secretive governance
The Bahamas cannot afford “another five-year cycle” of unaccountable government spending, a governance reformer warned yesterday, arguing that a Fiscal Responsibility Act should have “preceded” Value-Added Tax (VAT).