Expatriates 'no more than10%' of GB industrial staff
EXPATRIATE workers account for no more than 10 per cent of the Freeport industrial sector’s workforce, one executive said yesterday, telling Tribune Business that the real challenge was finding employees with the required skills at entry level.
Permit stance can 'cripple our economy'
The Government’s newly-announced work permit policies “will cripple our economy” if implemented, a former immigration minister warned yesterday, while its ‘no approvals’ threat to Freeport’s industrial sector would “shut Grand Bahama down full stop”.
Bahamas' 27% FDI ratioleads West Hemisphere
The Bahamas’ 27 per cent gross foreign direct investment (FDI) ratio led the entire Latin American and Caribbean region in 2012, a Wall Street rating agency yesterday ranking this nation as one of only two projected to achieve above average economic growth in 2012.
Work permit elimination 'unworkable'
The Government’s plan to eliminate work permits for certain jobs categories within one year was yesterday branded as ‘unworkable’ by a former Immigration minister, who said that based on personal experience Bahamians were simply unwilling to do this work.
MARKETING REVOLUTION: A tweet can keep marketing sweet
The final tweet by Pope Benedict XVI before retiring was: “Thank you for your love and support. May you always experience the joy that comes from putting Christ at the centre of your lives.”
Oil exploration 'rejected' if voted on today
A well-known businessman yesterday backed the Government’s decision to allow exploratory oil drilling ahead of any referendum, saying this essentially paved the way for “an easier sell”.
Work permit policy 'self- defeating to FDI crusade'
The Government was yesterday warned not to make any Immigration policy statements that could be “self-defeating to the foreign direct investment crusade” vital to dragging the Bahamian economy out of recession.
Gov't housing re-launch vital to 80% of contractors
THE BAHAMIAN Contractors Association’s (BCA) president yesterday said many smaller operators were anxiously awaiting a revival of the Government’s housing programme, telling Tribune Business this group makes up 70-80 per cent of construction teams in the country .
McCartney travels to investment conference
Halsbury Chambers founder and managing partner, Branville McCartney, will attend the second Offshore Investment Conference in Panama from March 13-14.
BORCO owner touts $320m investment
The Bahamas Oil Refining Company’s (BORCO) owner has invested $320 million in the two years since it acquired the Grand Bahama-based facility, believing it is an “ideal location” to serve the 20-30 per cent tanker traffic increase projected from the Panama Canal expansion.
Bahamian group targets water supply takeover
An all-Bahamian investor group led by a former Water & Sewerage Corporation chairman has approached the Government about taking over one of the New Providence-based reverse osmosis plants currently operated by BISX-listed Consolidated Water, Tribune Business can reveal.
Minister warns of ‘substantial’ work permit fee rises
THE Government is eyeing “substantial” fee increases for work permits, permanent residency and citizenship, the minister of foreign affairs and immigration yesterday publicly criticising named businesses for their approach to hiring Bahamians.
Chamber chief backs oil move
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday said failing to permit exploratory oil drilling risked “leaving money on the table at a time when the country can least afford to do so”.
Kalik exports fall 20% as 'less competitive'
Kalik exports “are becoming less competitive” due to the Bahamian economy’s high operating costs, Commonwealth Brewery’s managing director revealed yesterday, with revenues from the US market down 20.4 per cent year-over-year.
Pre-summer recess target for Small Business legislation
THE Small & Medium Sized Development Bill could be presented to Parliament before the 2013 summer recess, and will allow the Government to be more effective in its support for small and medium-sized enterprises, a senior attorney said yesterday.
