NIB rate hikes ‘totally impossible’ to absorb
Bahamian businesses have warned it is “absolutely impossible” to absorb the contribution rate increases required to save the National Insurance Board (NIB), adding: “The can’s been kicked to pieces at this point.”
Winter is coming
ActivTrades
I do believe there are catastrophes that everyone can see coming long before they happen. Events and developments that become apparent long before they occur, initially often swept under the carpet, then deliberately ignored before being trivialised in their effects a little later - and whose impact is only recognised at the very end, when there is nothing left to deny.
Union chief: ‘We’ve been taken for a ride too long’
The hotel union’s president says it is “diametrically opposed” to the industry’s proposal that tipped employees receive less than a full minimum wage increase, saying: “We’ve been taken for a ride for too long.”
DEREK SMITH: Building compliance for global workforce
Despite the changes in a company’s day-to-day workflow due to technological progress, the backbone of a successful corporation remains its trained and engaged workforce.
Cable pushes TV review after 11% subscriber fall
CABLE Bahamas is pushing industry regulators to complete their review of pay-TV services after it suffered the greatest year-over-year subscriber drop of 11 percent for 2021.
Scotiabank sharpens credit focus via new Sales Centre
A SCOTIABANK (Bahamas) executive says its newly-launched Sales Centre will enable the lender to focus on “all things credit” and give greater attention to customers seeking loans.
Nassau hotel demand jumps 27% in Florida
Connections to Nassau/Paradise Island hotels through their promotion board’s website have leapt 98 percent for 2022 to-date, the latter’s chairman revealed yesterday, predicting that business will further “ramp up” into early 2023.
Hotels ‘close to living with’ rental pool minimum tax
The Bahamian hotel industry yesterday asserted it is “coming close to a position we can live with” by ensuring that the Government’s ‘minimum tax’ on rental pool units is not too “onerous”.
Give Bahamians ‘direct’ carbon manager equity
Opposition MPs yesterday urged that “ordinary Bahamians” be given an opportunity to directly own shares in the company being created to manage this nation’s multi-million dollar carbon credits and their trading.
‘We cannot give it all away’: Hotels’ rising energy fears
Bahamian hotels were yesterday growing increasingly fearful that rising electricity costs will wipe out their profitability “breathing space”, with one saying: “We can ill-afford to give it all away.”
Minimum wage: Hotels ‘intervene’ over gratuity
The Bahamian hotel industry has “intervened” over the upcoming minimum wage increase to propose that employees earning the bulk of their income from gratuities receive less than the full rise, it was revealed yesterday.
IAN FERGUSON: Employers must wake up to staff discontent
The past two-and-a-half years have possibly seen the most dramatic shift in the labour market, and work environment, in Bahamian history. Unemployment rates during the pandemic hit unprecedented levels and now, two years later, as companies recover in leaps and bounds, frictional joblessness and mass resignation has become our new reality.
Cheque volumes fall 7.5% annually over past decade
The Central Bank’s governor yesterday said cheques cleared via the Bahamian banking system have decreased by 7.5 percent annually over the past decade with businesses, especially, dropping an instrument “very susceptible to fraud”.
Give up pension ‘bargain’ to save future generations
Bahamians must give up the “bargain” of their generous National Insurance Board (NIB) pension to prevent “future generations” facing an unsustainable financial burden, it was revealed yesterday, as “the day of reckoning” arrived.
Development Bank aided by $20m NIB bond switch
Some $37m in Bahamas Development Bank (BDB) bonds held by the National Insurance Board (NIB) were converted into a long-term 20-year loan as the lender’s solvency deficiency rose to $13.629m at year-end 2020.
