Corporations facing $1.6bn pension hole
The Government-owned corporations will have a collective $1.6 billion deficit in their employee pension plans by 2032 unless urgent reforms are enacted, a report obtained by Tribune Business reveals.
BoB rocked by new $24m loss
Bank of the Bahamas suffered another $24 million loss for its 2016 financial year, shareholders have been told, as the BISX-listed institution asks them for a further $40 million in equity capital.
Sarkis slams CCA presence on Baha Mar committee
Sarkis Izmirlian last night slammed the inclusion of a China Construction America (CCA) executive on the committee that will determine how much Baha Mar’s unsecured Bahamian creditors will receive, arguing that it was “not in their best interests”.
BoB ‘can’t be serious’ over $40m rights offer
Sceptical shareholders yesterday said Bank of the Bahamas “cannot be serious” over the share price and one-week timeline for its $40 million rights offering.
Moody’s: Reduced Govt spending ‘key’ to fiscal success
Reduced spending is “key” if the Government is to hit its 2018-2019 surplus target and succeed in its consolidation efforts, Moody’s has warned, as it expressed concern over the “rising risk” posed by public corporations.
Patience a virtue on Baha Mar deal
Whilst I respect the views of Fred Smith QC, as quoted in your Business edition of August 26, I disagree that any court would require the veil of Baha Mar secrecy to be lifted, particularly as the Constitution protects, in Article 15, the rights and freedoms of others and the public interest.
PM reassures contractors over Baha Mar payments
Prime Minister Perry Christie last week summoned Bahamian contractors to a meeting at his office to urge them “not to mind the noise in the marketplace” about Baha Mar creditor compensation.
Development Plan talks to intensify
The National Development Plan (NDP) Secretariat plans to have more intense public outreach on the goals it is seeking to achieve, according to the Government’s lead official on the initiative.
Hotel union backs gratuities inclusion in wage definition
The hotel union’s president says it has “long wanted” the Employment Act to include gratuities in its definition of wages, given that the former was a substantial proportion of the take home pay for many employees.
Hotels endangered by ‘huge’ gratuities hit
The hotel industry fears that proposals to include gratuities in the Employment Act’s definition of wages will have an “astronomical” impact on its cost base, and could drive some properties “out of business”.
QC ‘urges’ FNM: Fight Baha Mar secrecy in courts
The FNM and Baha Mar creditors were yesterday urged by a well-known QC to use Judicial Reviews and other legal methods to challenge both the Government’s agreement with the Chinese and its sealing by the Supreme Court.
Union chief tones down strike threat
A trade union leader last night toned down threats of industrial action to rival the 1958 General Strike, following a nearly three-hour meeting with the Prime Minister over the Sandals situation.
CCA denies lawsuit tie to dismissal of contractor’s wife
Attorneys for China Construction America (CCA) yesterday denied that a Bahamian contractor’s decision to launch legal action against it over alleged Baha Mar debts sparked the firing of his wife that same day.
D’Aguilar: Baha Mar deal may hit Atlantis ‘viability’
A key Sarkis Izmirlian ally yesterday expressed fears that Atlantis’s “commercial viability” could be undermined if the Baha Mar agreement paves the way for China to dominate the Bahamian hotel industry.
IAN FERGUSON: Employee coaching key to firm’s health
Coaching is used in a variety of ways to help employees solve their problems. No workplace is without its share of issues, and no individual is immune from personal and professional roadblocks.
