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CONSTRUCTION & MANUFACTURING: 8,800 JOBS LOST IN 3-YEAR PERIOD
By NEIL HARTNELL Tribune Business Editor The Bahamas lost a total 8,870 jobs in its construction and manufacturing industries between 2007-2010 as a result of the global recession, a United Nations (UN) Body has reported, with per capita GDP only now beg
AML Foods closes Carl’s Jr franchise
AML Foods has decided to pull the plug on its Carl’s Jr franchise and close all three outlets, Tribune Business confirmed yesterday, although no job losses will result.
Gov't 'good faith' key to Brewery's 100-job growth
Sands Beer’s manufacturer yesterday said its planned $15 million growth strategy, which could more than double its workforce via the creation of “over 100” jobs in the next five-10 years, depends on the Government maintaining the ‘tax advantage’ it holds over its BISX-listed rival.
Superwash chief: VAT bites 12-14% off key products
A leading businessman says the Bahamian economy is stuck "in a funk" as Value-Added Tax's (VAT) full impact starts to bite, with sales in two of his key product categories down 12-14 per cent. Dionisio D'Aguilar, Superwash's president, told Tribune Business that the Bahamas desperately needed to change its attitude towards "rebooting the economy" and making it easier to conduct business.
Minister to activists: Don’t deny us jobs
A Cabinet Minister yesterday urged environmental activists to be “balanced and responsible” when launching legal actions against legitimate developers, warning that these could deny Bahamians much-needed “economic benefits”.
Bahamas can take $5-$10bn premium 'captive' with focus
Bahamas can take $5-$10bn premium 'captive' with focus By NEIL HARTNELL Tribune Business Editor The Bahamas could attract between $5-$10 billion in premium income within five years if it made a concerted effort to re-establish itself as a captive insura
25,000-acre dispute solution 'critical to 'thousands of jobs'
By NEIL HARTNELL Tribune Business Editor Resolving a long-running dispute that has tied up 25,000 acres of prime real estate is "critical" to potentially creating "thousands of jobs" and reversing Long Island's depopulation, a Court of Appeal ruling havi
Baha Mar’s expat hires told to leave
Baha Mar has told several expatriate hires to leave the Bahamas because construction delays mean there are no jobs for them to step into, amid suggestions it is seeking additional financing to complete the $3.5 billion project.
Chamber urges: ‘Tighten up and enforce’ Enterprises Bill
THE Chamber of Commerce yesterday urged the Government to “tighten up the language”, and enforce the provisions, in the Commercial Enterprises Bill to prevent potential abuses.
PUT NATIONAL INTEREST 'IN FACE' OF ATLANTIS PARTIES
By NEIL HARTNELL Tribune Business Editor The Government has been urged to publish a "broad Bahamian policy" on Atlantis, a former finance minister urging it to put this nation's interests "in the face" of the parties starting to fight over the resort's o
ATLANTIS EYES 12-14% GROUP BOOKING RISE
By NEIL HARTNELL Tribune Business Editor Atlantis is looking at a 12-14 per cent increase in group business for 2012, the head of Kerzner International's Bahamian operations yesterday saying its $50-$60 million annual capital expenditure plans would like
AG’s Office: We bungled Blackbeard’s Cay appeal
The Attorney General’s Office has admitted that the Government’s appeal over the $8 million Blackbeard’s Cay project was thrown out because it was asleep on the job.
Gov’t ‘won’t ruin’ economy revival with labour laws
* Minister reassures private sector on changes * No move on ‘controversial’ issues yet * Will only proceed if business/union ‘consensus’
THE Government “will not do anything to ruin” efforts to revive the Bahamian economy, a Cabinet Minister pledged yesterday, as he sought to reassure businesses over labour law reforms. Dion Foulkes, the Minister of Labour, told Tribune Business that the Minnis administration had yet to move on “contentious” election commitments to raise the 12-year redundancy pay ‘cap’ and increase the notice period for terminated employees.
$225m World Mart principals 'very encouraged' over Chinese meetings
ONCE of the principals behind the proposed $225 million trade market proposed for Freeport yesterday told Tribune Business they were "very encouraged" by the outcome of meetings with China-based strategic partners, and hoped to engage the new PLP government over a Heads of Agreement for the project shortly.
AML chair: City Markets deal 'kept changing'
AML Foods chairman yesterday said its efforts to acquire City Markets' remaining business fell apart because the latter's principal, Mark Finlayson, "kept changing the terms of the deal" on a daily basis, and had nothing to do with the BISX-listed food retail group refusing to take on the chain's staff.
Aviation industry 'not given its due'
Aviation industry 'not given its due' By NEIL HARTNELL Tribune Business Editor Developing a Bahamian aircraft registry could ultimately lead to spin-offs such as a "maintenance facility equivalent in size to Miami", an attorney yesterday urging: "Now is
BAHAMAS OUT OF STEP ON 'INFORMATION AGE'
By NEIL HARTNELL Tribune Business Editor The Bahamas must retool its economy and workforce to offer an expanded services menu including software development and retirement homes, the Chamber of Commerce and Employers Confederation's (BCCEC) chairman sugg
CIBC:‘No plans’ for further terminations
CIBC’s top Caribbean executive yesterday said the bank had “no plans” for any further major outsourcing of jobs from the Bahamas, emphasising it was targeting the retail and private wealth management segments for growth.
The art of leadership
The art of leadership By Ian Ferguson As we prepare ourselves as a nation to select our political leaders for another term in office, the Chamber Voice begins a series on Leadership. Leadership is probably best defined as the ability a person has to bui
The art of leadership
The art of leadership By Ian Ferguson As we prepare ourselves as a nation to select our political leaders for another term in office, the Chamber Voice begins a series on Leadership. Leadership is probably best defined as the ability a person has to bui