‘The public is better off’: Eliminate price controls
Super Value’s principal yesterday urged the Government to abolish the price control regime rather than expand it, arguing: “Consumers will be better off.”
Gov’t in $40m surplus despite 25% VAT drop
The Government yesterday unveiled a rare $40.2m Budget surplus for July 2022 despite VAT revenues declining by more than 25 percent or some $36.5m year-over-year.
Price control expansion ‘last straw’ for grocers
The Retail Grocers Association’s president yesterday warned that expanding the price control regime could be “the last straw” for small and medium-sized food stores, adding: “I’d like to know what the magic formula is.”
Two-thirds of hotel staff in minimum wage boost
Up to two-thirds of the hotel industry’s workforce may benefit from the 24 percent minimum wage increase unveiled by the Prime Minister, it was revealed yesterday, amid hopes the sector’s rising business volumes will offset the extra cost.
Avoiding common start-up failures
Starting a small business can be extremely rewarding. You are your own boss. You find your own clients, and set your own hours and rates. Sounds easy, right? Sometimes the odds are stacked against you, with a surprisingly high small business failure rate. According to a research company, 20 percent of small businesses fail in their first year, with this figure rising to a stunning 70 percent failure rate by year ten.
Minimum wage rise to hit firms with 'tight margins'
MERCHANTS yesterday said that, while a minimum wage increase is necessary to help ease the cost of living crisis, the increase in payroll expense may force some companies operating on tight margins to lay-off staff.
Innovation hub seeking to boost technology funding
A NEWLY-LAUNCHED innovation hub aims to give Bahamian digital assets and technology entrepreneurs direct access to international financing by forging links with California's Silicon Valley.
Tourism crime threat ‘boggles the mind’
THE Deputy Prime Minister yesterday downplayed the impact of the most recent US travel advisory while saying “it boggles the mind” to believe that criminals would deliberately hurt or target the tourism industry.
NIB unemployed payout drops to $610k monthly
A CABINET minister yesterday said the collective $610,000 per month that the National Insurance Board (NIB) is paying in unemployment benefit is “considerably less” than during the COVID-19 pandemic.
Job fair targeting 2,000 attendees
THE Department of Labour is aiming to attract 2,000 employment seekers to its latest ‘Labour on the Blocks 2.0’ job fair this Saturday, with 45 companies ready to vet and hire as many as possible that same day.
Unions not giving up $300 minimum wage
The Trades Union Congress (TUC) president yesterday asserted that the labour movement will push for a further minimum wage increase to $300 per week once the economy has rebounded “in a strong way”.
‘Move the needle’: IMF puts Bahamas growth back to 8%
The Bahamas is being urged to “significantly move the needle” on medium-term economic expansion even though the International Monetary Fund (IMF) yesterday raised this nation’s 2022 growth forecast back to 8 percent.
URCA promises ‘active review’ of BPL fuel hike
The energy regulator’s pledge that it has begun “an active review” of the up to 163 percent hike in Bahamas Power & Light’s (BPL) fuel charge was yesterday branded “critical” to its continued credibility.
PM in major price control expansion
The Prime Minister last night unveiled a major expansion of the price control regime to 38 extra foods, medicines and other essentials in a bid to combat soaring inflation that has “made life even more unaffordable” for many Bahamians.
Minimum wage rise ‘won’t end hardship’
The Prime Minister last night confirmed the private sector minimum wage will increase by 34 percent to $260 per week come January 2023 while admitting it “not eliminate the hardship of trying to make ends”.
