Local Business


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Union demands ‘a fly in the ointment’

Public sector pay negotiations are a potential "fly in the ointment" that may cause the Government to miss its 1 percent deficit target for 2019-2020, the deputy prime minister warned yesterday.

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Moody's predicts $82m fiscal deficit overshoot

Moody’s is predicting that the government will overshoot its 2019-2020 deficit target by more than $82m and take longer than anticipated to produce the budget surplus it is seeking.The international credit rating agency, in its latest update on The B

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'Stupid is as stupid does' on BPL crisis

A governance reformer yesterday blasted The Bahamas’ tendency to only address key problems “in a crisis” as he blamed its energy woes on “irresponsible governance” and bad fiscal habits. Robert Myers, pictured , a principal with the Organisation for

Taxi union in compliance row with NIB

THE taxi cab union is in a “chokehold”, its president said yesterday, as he threatened legal action against the National Insurance Board (NIB) for allegedly failing to provide it with a letter of good standing.Wesley Ferguson told Tribune Business: “

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DPM: Just 50% of registry firms deemed 'active'

Just 50 percent of companies listed on the registry are thought to be “active”, the deputy prime minister said yesterday, as thousands of entities were informed of their removal.KP Turnquest told Tribune Business that the “gazzetting” of their remova

Industrial Tribunal in Caribbean first

The Industrial Tribunal was yesterday hailed as a Caribbean leader for this week’s launch of electronic case filing and management services. The National Tripartite Council, in a statement, said one of its executive members, Rionda Godet, became the

Foreign minister to lead Abaco summit

The Minister of Foreign Affairs will deliver the keynote address at the 16th annual Abaco Business Outlook conference, which will be held on September 5 in Marsh Harbour.Darren Henfield, also the north Abaco MP, will lead the speaker line-up at the A

IAN FERGUSON: Do not leave employee performance to chance

Every progressive business establishes improving worker performance as a primary goal. Greater productivity and efficiency results in increased profit and market share; it’s that simple. When workers are not learning or improving, and are not motivat

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Minimum wage rise talk ‘unequivocally not true’

A National Tripartite Council member yesterday described the minister of labour’s assertion that it is debating a minimum wage increase as “unequivocally not true”.

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More Bahamians jobless than when govt elected

More Bahamians are jobless now than when the Minnis administration took office just over two years ago despite the national unemployment rate’s reduction to 9.5 percent.A closer examination of the May 2019 Labour Force Survey data reveals that some 2

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Customs portal allows boating fee payments

THE Customs Department’s new digital system will allow pleasure craft to apply for cruising and fishing permits, the deputy prime minister said yesterday.​ Announcing the launch of the registration campaign for Customs’ Electronic Single Window (ESW

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Bran: BPL 'puts us back in third world'

The DNA’s ex-leader yesterday said Bahamas Power & Light’s (BPL) inability to provide reliable power had “put us back into third world status”, and blasted: “It’s a disaster for the economy.”

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Chamber chief: 'No downside' to Customs system

The Chamber of Commerce’s chief executive says “there’s really no downside” to Customs’ new digital system, but called for “patience” as all parties go through their “learning curve”.Jeffrey Beckles, urging the private sector to stay the course over

Contractors Board to be finalised soon

THE Board that will oversee the construction industry’s self-regulation could soon be in place, a Cabinet minister has told Tribune Business.Desmond Bannister, minister of works, said: “Cabinet has made, or is in the process of making, all Board appo

Sebas' Titan gains $4.5m from over 1,000 investors

Sebas Bastian’s investment house yesterday said its Titan Balanced Fund had “met every expectation and more” by raising $4.5m from over 1,000 investors.Investar Securities, in a statement, said the fund - which had a lower investment entry threshold