February 4, 2019
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‘Creatures of evolution’: Digital firm to top $130m
A Bahamian digital payments provider yesterday predicted it will this year “top” the $130m worth of transactions it settled in 2021, and said of this shift: “This is not going to be the norm; it is the norm.”
Payment provider eyes 20-25% profit increase
A Bahamian digital payments provider is forecasting a 20-25 percent profits increase in 2022 based on the financial transactions it handles being “no less than double” this year’s $100m.
Digital provider targets $100m in payments
A Bahamian digital payments provider yesterday said it expects to increase the collective value of transactions it processes by 67 percent this year to $100m as it unveiled a “world first”.
Digital provider 'pulling the boot straps together'
A Bahamian digital payments provider is aiming to "pull the boot strap strings together" and add a further 8,000-10,000 wallet accounts by fully exploiting its platform's potential.
'Too soon to tell full impact of COVID-19'
IT is too early to predict COVID-19’s full impact on the business sector, according to Bahamas Chamber of Commerce CEO Jeffrey Beckles.With more areas of the economy allowed to reopen on Monday - but many areas still closed - Mr Beckles said stakehol
PM's address 'struck the COVID-9 balance'
The Chamber of Commerce's chief executive last night praised the Prime Minister for "striking a good balance" between COVID-19's economic and health challenges in his decision to relax restrictions. Jeffrey Beckles told Tribune Business that Dr Hube
Lockdown: 'Low hanging fruit' missed out
The Bahamian private sector was yesterday said to be in discussions with the government to address “low hanging fruit” that can aid the economy amid the latest COVID-19 lockdown.Jeffrey Beckles, the Bahamas Chamber of Commerce and Employers Confedera
US travel shut down 'low-risk proposition'
The government’s move to close The Bahamas’ borders to all commercial transportation from the US was yesterday branded “a low-risk proposition” by the Chamber of Commerce’s chief executive. Jeffrey Beckles, pictured , told Tribune Business the decis
'Spend your money at home' urges Chamber chief Beckles
CHAMBER of Commerce CEO Jeffrey Beckles believes the best way for Bahamians to help the economy grow right now is to comply with COVID-19 protocols, shop at home and vacation domestically.Mr Beckles, speaking to The Tribune yesterday, said due to the
Opening hours 'fix' is top requirement
The Chamber of Commerce’s chief executive yesterday predicted that any discrepancies in business opening hours were likely to be addressed “very quickly”, adding: “What’s important is we fix it.”Jeffrey Beckles, speaking after it was revealed that th
Economy 'wipe out' if firms fail in complying
The Bahamian economy “could be wiped out” if business owners and employees fail to take compliance and enforcement of COVID-19 health protocols seriously, a top private sector executive warned yesterday.Jeffrey Beckles, the Bahamas Chamber of Commerc
Budget must have private sector's back
The government is being urged to “drive confidence” by using today’s 2020-2021 budget to show the private sector it will do whatever it takes to “undergird the economy” and prevent its collapse. Jeffrey Beckles, the Bahamas Chamber of Commerce and E
COVID-19 makes BPL’s reliability ‘far more critical’
The Chamber of Commerce’s chief executive yesterday said the COVID-19 pandemic has made it “even more critical” that Bahamas Power & Light (BPL) provides stable energy supply.
BPL must ‘do everything in its power’ to prevent 2019 repeat
Bahamas Power & Light (BPL) was last night urged by the Chamber of Commerce’s top executive to “do everything in its power” to solve its cooling woe and avoid a repeat of summer 2019’s blackouts.
Digital dollar to have 'monumental effect'
The Chamber of Commerce’s chief executive yesterday predicted that the Bahamian digital currency will “have a monumental effect” on the transparency and safety of local financial transactions. Jeffrey Beckles, speaking after the Central Bank introdu
Confidence in BPL ‘will not be rebuilt overnight’
Consumer confidence in Bahamas Power & Light (BPL) will not be rebuilt overnight, the private sector warned yesterday, even though its “no more load shedding” pledge could be the best Christmas gift.
Businesses urged not to miss out on Canton Fair
Subscriptions to the Canton Fair-China Export and Import Fair 2020 being organised by the Chamber of Commerce and Employers Confederation is low, says chief executive Jeffrey Beckles.Mr Beckles said that he feels that everyone is currently pre-occupi
Beckles: Dorian presents opportunity to 'build on for the future'
There are significant opportunities following Hurricane Dorian, says Chamber of Commerce and Employers Confederation chief executive Jeffery Beckles.Mr Beckles said while Dorian has inflicted serious damage, it has also provided significant opportuni
Abaco can be 'model rebuild for Caribbean'
Abaco can become “uniquely distinct” as the Caribbean “model” for how storm-ravaged communities are rebuilt, the Chamber of Commerce’s chief executive argued yesterday. Jeffrey Beckles told Tribune Business that Hurricane Dorian’s devastation had “p
Chamber chief: 50% of firms not totally insured
The Chamber of Commerce’s chief executive yesterday underscored the difficulties in recovering from Hurricane Dorian by revealing that around 50 percent of storm-hit businesses were not fully insured.
Business braces to count the cost of Dorian
THE business community is in a ‘heightened’ state of concern over the potential affect of Hurricane Dorian according to Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chief executive Jeffrey Beckles, noting that, “hurricanes are a pa
Port development 'must bring life to downtown Nassau'
BAHAMAS Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, Jeffrey Beckles, yesterday stressed that a commitment to Bahamian ownership and involvement in the Nassau cruise port redevelopment is “critical”, adding Bahamians mus
Energy tax breaks urged amid ‘double whammy’ concern
The government was last night urged to swiftly grant tax breaks for the importation of generators and solar systems to mitigate a “double whammy” from Bahamas Power & Light (BPL).
Minimum wage can't be raised 'in vacuum'
The minimum wage cannot be increased “in a vacuum”, the Chamber of Commerce’s chief executive warned yesterday, with the “ramifications” for the private sector requiring careful study.Jeffrey Beckles told Tribune Business that The Bahamas needed to m
BPL crisis ‘torturous’ for key retail season
Back-to-School retailers face being stuck with excess inventory, and lost sales opportunities, as a result of Nassau’s energy crisis, the Chamber of Commerce’s top executive warned yesterday.
Chamber chief: 'No downside' to Customs system
The Chamber of Commerce’s chief executive says “there’s really no downside” to Customs’ new digital system, but called for “patience” as all parties go through their “learning curve”.Jeffrey Beckles, urging the private sector to stay the course over
Business 'baffled' over insufficient reform progress
The private sector is “baffled” by the seemingly “insufficient action” to address The Bahamas’ ease of doing business woes, the Chamber of Commerce’s chief executive warned yesterday. Jeffrey Beckles told Tribune Business that the government and pri
BPL crisis: What else can we say?
The Chamber of Commerce’s chief executive yesterday said there is “not much else to say” over the Bahamas Power & Light (BPL) crisis other than “hope resolution is in sight”.
'No more taxation pins and needles'
Chamber of Commerce executives have called for “substantive dialogue” with the government on the future of Bahamian taxation to avoid companies being left “sitting on pins and needles”.Jeffrey Beckles, the chamber’s chief executive, told Tribune Busi
Bahamians told: Don't view WTO as 'destination'
Bahamians must not view World Trade Organisation (WTO) membership as the “end destination” but rather “one tool” for achieving essential reforms, Chamber of Commerce executives are urging.Jeffrey Beckles, the Chamber’s chief executive, and Darron Pic
Govt urged: ‘Fortune favours the brave’
The private sector yesterday warned the Government it is rapidly “running out of time” to develop a much-needed structural economic reform strategy, urging: “Fortune favours the brave.”
'Gone cold': Fate of Development Plan concerns
Chamber of Commerce executives yesterday voiced concerns that the National Development Plan (NDP) has "gone cold" and left The Bahamas without a road map to higher growth.
'Critical surgery' for Bahamian economy
The Bahamas "must perform critical surgery on our economy" to return to the 3 percent-plus average GDP growth enjoyed pre-recession, the Chamber of Commerce's chief executive said yesterday.
Chamber chief: ‘We can’t settle for 2.1% GDP rise’
The Bahamas must “challenge itself” to achieve higher GDP growth rates than the 2.1 percent expansion projected for 2019, the Chamber of Commerce’s chief executive has urged.
Investment fears on work visa plan
Requiring seven-year work permit holders to leave The Bahamas for one year before an employer can reapply for their return is “not investment positive”, the government has been warned.
‘Don’t tax us into oblivion’ on public pension deficit
The government “cannot tax Bahamians into oblivion” to cover its multi-billion dollar public sector pension deficits, the Chamber of Commerce’s chief executive warned yesterday.
Illegal foreign salesmen chamber’s ‘top concern’
The government’s “short-term work visa” reforms have revived fears among local retailers and distributors about the ability of unregistered foreign salesmen to steal their business.
Where ‘rubber meets road’ on tourism growth
The “true testament” of The Bahamas’ record tourism growth will be whether it translates into increased economic impact and jobs, a top Chamber of Commerce executive said yesterday.
NHI: ‘We’re going where no man has gone before’
The Chamber of Commerce’s top executive yesterday said it was “critical” to get National Health Insurance (NHI) right first time, adding: “We’re going where no man’s gone before.”
Don’t cut spending ‘too far’, govt told
Private sector leaders yesterday warned the government not to “go too far” with its planned $130m spending cuts, pointing out that 40 years of fiscal woe “can’t be undone in three years”.
US warnings ‘threaten core of our existence’
The Bahamas “must do everything in our power” to combat US crime advisories, the Chamber of Commerce’s chief executive warning yesterday: “It threatens the very core of our existence”.
Port revamp ‘must run parallel’ to Bay St revival
The revival of Nassau’s cruise port and downtown “must run in parallel”, the Chamber of Commerce’s chief executive urged yesterday, and reverse the slide in passenger experience.
$70m funding gap in ‘worst case’ on NHI
Employers may have to fill a $70m funding gap if the “worst case scenario” for National Health Insurance (NHI) becomes reality, the Chamber of Commerce’s top executive revealed yesterday.
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