‘Conservative shopkeeper attitude’ deters desire for securities ownership
A “conservative shopkeeper’s attitude” has deterred many Bahamians from becoming shareholders, a Cabinet Minister yesterday suggesting that the CLICO (Bahamas) “catastrophe” had also undermined the development of a savings culture.
Gov’t jobs exchange: 50% lack basic skills
“At least” 50 per cent of Bahamians seeking to register with the Government’s jobs exchange lack basic language and maths skills, a top official yesterday conceding this made it “difficult” to significantly dent the high 15.7 per cent unemployment rate.
Minister: Baha Mar boss ‘not incorrect in his complaints’
A Cabinet Minister yesterday conceded that Baha Mar’s owner was “not incorrect in some of his complaints”, agreeing that this nation had to move more rapidly on energy and education reform.
Labour ‘limits employer tricks’
A top official yesterday said the Department of Labour had “significantly limited the tricks” used by employers to deny Bahamians jobs in preference to foreigners, slamming some tourism and financial services work permit applications as “ridiculous”.
Foreign construction worker numbers are ‘totally unacceptable’
A Cabinet Minister yesterday branded the number of foreign construction workers in this nation as “completely unacceptable”, arguing that economic growth and investments were not translating into Bahamian jobs.
Exuma has ‘little to show’ for Treasury funds contributions
The absence of local ownership and accountability is holding back Family Island economic development initiatives, the Exuma Chamber of Commerce’s president yesterday charging that “there is little to show” for the significant revenues being generated in his island.
Baha Mar chief slams ‘12 years unmet promises’
Baha Mar’s owner yesterday slammed successive governments for “12 years of unfulfilled promises” on energy and education reform, arguing that the $3.5 billion destination resort had to be developed in “a less than ideal” environment.
Insurers: NHI costs $300m underestimate
The Bahamian insurance industry yesterday warned that the Government’s consultants had underestimated the proposed National Health Insurance (NHI) scheme’s costs by $300 million or one-third, pegging its total price tag as high as $965 million.
Gov’t workers: Just 1% ‘highly skilled’
Just 1 per cent of the Bahmas’ 19,000 public sector workers fall into the highly skilled/technical category, a Cabinet Minister yesterday describing this as a “sobering statistic”.
Junkanoo Carnival ‘profitable’ by its third year
Bahamas Junkanoo Carnival organisers yesterday forecast that the event will be generating a profit by its third year, with the economic impact increasing by 20.5 per cent over the inaugural 2015 version.
Baha Mar warns Chinese partner: on ‘discontent’
Baha Mar’s owner yesterday called on its Chinese construction partner to meet its obligations to get the $3.5 billion destination resort open, urging it to recognise the “discontent” it is causing in the Bahamas.
Insurer exceeds targets despite 6% top-line fall
Bahamas First yesterday said it beat its 2014 underwriting income targets by between 5-10 per cent, despite encountering margin pressures that cut top-line premium income by more than $9 million.
Cable breaks B$ record despite being $7m short
Despite missing its combined target by $7 million, Cable Bahamas’ preference share issue was yesterday described as the “largest amount” of new Bahamian dollars ever raised from this nation’s capital markets by a private sector entity.
Nygard: PLP were ‘never improper’ in our dealings
Peter Nygard says the Christie administration has “never behaved improperly” in its dealings with him, while describing Prime Minister Perry Christie as “a long-time friend”.
Judge unimpressed by broker’s ‘failed corporate suicide’
A Bahamian broker/dealer’s “failed attempt at corporate suicide” has failed to impress a New York judge, who has ordered it to produce potentially thousands of documents sought by US federal regulators by today.
