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.
$20m housing financing ‘shouldn’t be secret deal’
The Opposition’s finance spokesman was yesterday less than impressed with the Government’s efforts at “transparency” over its flagship $20m housing initiative, asserting: “This should not be a secret deal.”
NIB fund hit for $190m by COVID
A $190m deficit blow-out triggered by COVID-19 resulted in the National Insurance Board’s reserves slumping to $1.54bn at year-end 2020, it can be revealed.
ART OF GRAPHIX – Nothing stays the same: Change now inevitable
In this Information Age, and its impact on the ever-evolving global economy, change is now the norm for business. But, despite its presence everywhere, change does not come easy. Companies sometimes fail to make critical reforms due to an ingrained resistance to change.
PM: Digital asset ambitions to rebuild financial services
The Prime Minister yesterday said The Bahamas’ ambitions to become a digital assets hub will help it recover financial services activity that has been lost to the “global assault” on international financial centres (IFCs).
Developer launches used car sales app
A software developer yesterday said it is launching the Bahvee app to make it easier for Bahamians to buy and sell used cars.
Banks and regulator seek to ‘mute’ cheque-end dissent
The Central Bank yesterday removed from its website a document seeking bids for a campaign “to mute” opposition to the elimination of cheques after the language used was questioned by Tribune Business.
