Don't wait 90 days to hire, then fire
Most people would agree that hiring is one of the more challenging parts of running a business. Hiring a sales team member is even more challenging because you are interviewing people who are supposedly good at selling.
Companies urged to better maintain IT infrastructure
Too many companies are failing to maintain their Information Technology (IT) systems, a service provider arguing that they are neglecting the engine of most modern businesses.
Web shop legalisation 'alters economic order'
A leading businessman believes the legalisation of web shop gaming will be “a game changer” for the Bahamian economy and government finances, and called on ‘legitimised’ numbers operators to help “self-police” the sector.
'No major' financial industry downsizing within next 2 years
While the Bahamas is unlikely to suffer “major dislocation” in its financial services sector over the next two years, a top QC believes further attrition is likely, and warned: “This is an industry we simply cannot go to sleep on.”
Gov't to collect just over half initial VAT goal
The Government will realise just over half of its projected Value-Added Tax (VAT) net revenue increase in the first year, the International Monetary Fund (IMF) has warned, with forecast increases in Customs and real property taxes also over-optimistic.
Central Bank asked Gov't for $400m 'reserves boost'
The Central Bank of the Bahamas asked the Government to undertake $400 million worth of foreign currency borrowing this fiscal year to alleviate concerns over a “steady decline” in external reserves.
Baha Mar failure would need 'more aggressive' fiscal restructuring
A failure by Baha Mar to deliver on the projected 10 per cent stopover arrival increase is among the greatest risks facing the Bahamian economy, the International Monetary Fund (IMF) warning that expected 2.8 per cent economic growth in 2015 would “not materialise” if this occurred.
Gov't to strengthen consumer protection over VAt 'price gouge'
The Government will strengthen the Consumer Protection Department to ensure Bahamians are not exploited by businesses illegally collecting Value-Added Tax (VAT) from their customers, Ministry of Finance official Lucine Mingo told teachers at Government High School recently.
Gov't, Central Bank 'sceptical' over interest rate cut boost
The Government and Central Bank are “sceptical” that further interest rate cuts will boost commercial bank lending, with private consumption by Bahamians having “declined for the fifth consecutive year”.
Water Corp focus on its 'core'
THE Water and Sewerage Corporation (WSC) is aiming to focus solely on its “core function” once it transfers economic regulation to the Utilities Regulation and Competition Authority (URCA), and the Ministry of the Environment assumes its environmental regulatory powers.
Leak plugger 'well ahead' of 2014 goal
MIYA, the water efficiency solutions provider, is “well ahead”of its 2014 performance targets under its Non-Revenue Water (NRW) reduction contract with the Water & Sewerage Corporation, having created 132 jobs inclusive of its core team and contract workers.
UBS downsize hits 70 staff
More than 70 UBS (Bahamas) will be impacted by the closure of its private banking unit over the next 10 months, with the Swiss banking giant promising the Government it would “minimise” local lay-offs.
Fiscal reform needed to occur '10 years ago'
The Bahamas has “boxed itself in” by delaying fiscal reform until it reached “crisis point”, a leading accountant arguing that new taxes should be been introduced “10 years ago” when the economy was booming.
Bimini cruise terminal action switches tactics
Opponents of Bimini’s controversial cruise ship dock have switched tactics, filing a Supreme Court summons seeking permission to drop Resorts World Bimini and its affiliates as defendants in its Judicial Review action.
Businessman calls for 65% debt ratio limit
A well-known businessman yesterday called for a ‘fiscal rule’ where the Government’s debt-to-GDP ratio cannot exceed 65 per cent, arguing that increased revenues had to be accompanied by spending discipline.
