Switzerland, 30 January 2018 – Davos – A record-breaking share of CEOs are optimistic about the economic environment worldwide, at least in the short term. That’s one of the key findings of PwC’s 21st survey of almost 1,300 CEOs around the world, launched today at the World Economic Forum Annual Meeting in Davos. Fifty seven percent of business leaders say they believe global economic growth will improve in the next 12 months. It’s almost twice the level of last year (29%) and the largest ever increase since PwC began asking about global growth in 2012.
Optimism in global growth has more than doubled in the US (59%) after a period of uncertainty surrounding the election (2017: 24%). Brazil also saw a large increase in the share of CEOs who are optimistic global growth will improve (+38% to 80%). And even among the less optimistic countries such as Japan (2018: 38% vs. 2017: 11%) and the UK (2018: 36% vs. 2017: 17%), optimism in global growth has more than doubled since last year.
“With the stock markets booming and GDP predicted to grow in most major markets around the world, it’s no surprise CEOs are so bullish,” comments Bob Moritz, Global Chairman, PwC.
Nick Haywood, PwC Turks and Caicos Territory Leader, said: “We are hoping that economic prospects as just as positive based on the CEO Survey results, especially after the devastating blows from the recent hurricanes that ripped through the Caribbean and their resulting economic effects,” said Nick Haywood, Territory Leader, PwC Turks & Caicos. “Rebuilding after the hurricane related disruptions, along with the positive economic outlook for the U.S and North America markets, can affect mended and improved economic activity and national economy over the medium term.”
Impact of technology on employment and skills a concern
CEOs say that helping employees retrain, and increasing transparency on how automation and AI could impact jobs is becoming a more important issue for them.
Two thirds of CEOs believe they have a responsibility to retrain employees whose roles are replaced by technology, chiefly amongst the Engineering & Construction (73%), Technology (71%) and Communications (77%) sectors.
The digital and automation transition is particularly acute in the Financial Services sector. Almost a quarter (24%) of Banking & Capital Markets and Insurance CEOs plan workforce reductions, with 28% of Banking & Capital Markets jobs likely to be lost to a large extent due to technology and automation.
Confidence in short-term revenue growth on the rise
This optimism in the economy is feeding into CEOs’ confidence about their own companies’ outlook, even if the uptick is not so large. 42% percent of CEOs said they are “very confident” in their own organisation’s growth prospects over the next 12 months, up from 38% last year.
Looking at the results by country, it’s a mixed bag. CEOs’ outlook improved in several key markets including in Australia (up 4% to 46%) and China (up 4% to 40%), where the share of CEOs saying they are “very confident” in their own organisation’s 12-month growth prospects rose.
In the US, CEOs’ confidence has recovered. After election nerves last year, the early focus on regulation and tax reform by the new administration has seen confidence in business growth prospects for the year ahead rising significantly – from 39% in 2017 to 52% in 2018. And North America is the only region where a majority of CEOs are “very confident” about their own 12-month prospects.
In the UK, with Brexit negotiations only recently reaching a significant milestone, business leaders’ drop in short-term confidence is unsurprising (2018: 34% vs. 2017: 41%).
The top three most confident sectors for their own 12-month prospects this year are Technology (48% “very confident”), Business Services (46%) and Pharmaceutical and Life Sciences (46%) – all exceeding the global “very confident” level of 42%.
Strategies for growth remain largely unchanged on last year’s survey – CEOs will rely on organic growth (79%), cost reduction (62%), strategic alliances (49%) and M&As (42%). There was a small increase in interest in partnering with entrepreneurs and start-ups (33% vs 28% last year).
Top countries for growth: Confidence in US continues, reinforcing lead on China
CEO confidence in the US market extends overseas, with non-US based CEOs once again voting it the top market for growth in the next 12 months. This year, the US reinforces its lead on China (46% US vs 33% China, with the US lead over China up 2% compared with 2017).
Germany (20%) remains in third place, followed by the UK (15%)n fourth place, while India bumps Japan as the fifth most attractive market in 2018.
Jobs and digital skills: headcounts to increase; leaders concerned about availability of digital talent
Confidence in short-term revenue growth is feeding into jobs growth, with 54% of CEOs planning to increase their headcount in 2018 (2017: 52%). Only 18% of CEOs expect to reduce their headcount.
Healthcare (71%), Technology (70%), Business Services (67%) Communications (60%) and Hospitality and Leisure (59%) are amongst the sectors with the highest demand for new recruits.
On digital skills specifically, over a quarter (28%) of CEOs are extremely concerned about their availability within the country they are based, rising to 49% extremely concerned in South Africa, 51% in China and 59% in Brazil.
Overall, 22% of CEOs are extremely concerned about the availability of key digital skills in the workforce, 27% in their industry and 23% at the leadership level.
Investments in modern working environments, learning and development programmes and partnering with other providers are the top strategies to help them attract and develop the digital talent they need.
Threats to growth: CEOs fear wider societal threats they can’t control
Despite the optimism in the global economy, anxiety is rising on a much broader range of business, social and economic threats. CEOs are ‘extremely concerned’ about geopolitical uncertainty (40%), cyber threats (40%), terrorism (41%), availability of key skills (38%) and populism (35%). These threats outpace familiar concerns about business growth prospects such as exchange rate volatility (29%) and changing consumer behaviour (26%).
Underlining the shift, extreme concern about terrorism doubled (2018: 41% vs 2017: 20%) and terrorism enters the top 10 threats to growth. The threat of over-regulation remains the top concern for CEOs (42% extremely concerned), and over a third (36%) remain concerned about an increasing tax burden.
Key skills availability is the top concern for CEOs in China (2018: 64% extremely concerned vs. 2017: 52%). In the US (63%) and the UK (39%), cyber has become the top threat for CEOs displacing over-regulation. And in Germany, cyber jumped from being the fifth threat in 2017 to third place (28%) this year.
A year after the Paris Agreement was signed by over 190 nations, which saw countries commit to voluntary action on climate change and low carbon investment, CEOs’ concern about the threat of climate change and environmental damage to growth prospects has now doubled to 31% of CEOs (2017: 15%).
High-profile extreme weather events and the US withdrawal from the Paris Agreement have significantly raised the profile of business action on climate risk, regulation and resilience. In China, over half (54%) of business leaders are extremely concerned about climate change and environmental damage as a threat to business growth, equal with their levels of concern about geopolitical uncertainty and protectionism.
Trust and leadership: CEOs divided over whether future economic growth will benefit the many or the few
Echoing the theme of the World Economic Forum this year, CEOs acknowledge that we live in a fractured world. They are divided over whether future economic growth will benefit the many or the few. They see the world moving towards new, multifaceted metrics to measure future prosperity.
Examining the key challenges to trust for businesses, CEOs admit that delivering results in shorter periods of time (60%) is the main challenge. However, following this, there is a significant shift with the majority reporting higher levels of pressure to hold individual leaders to account (59%), including for misconduct. Over a third report more pressure from employees and customers to take political and social stances (38%) in public.
In the Banking and Capital Market (65%), Healthcare (65%) and Technology sectors (59%), the profile of leadership accountability was higher than average. So too were expectations in the US (70%), Brazil (67%), and the UK (63%). High-profile debates on diversity, immigration, social inclusion and pay equity have raised employees’ expectations of leadership to engage in political and social issues, particularly in the US (51%), China (41%) and the UK (38%).
Guys, Have 2 Minutes? Here’s How to Check Yourself for Testicular Cancer
Testicular cancer is a rare form of cancer for men in The Bahamas. It is highly curable — if you know it’s there!
November 30, 2021 – Men…how often do you perform a self-exam to check yourselves for testicular cancer?
While it’s a relatively rare form of cancer, young men aren’t exempt – in fact, testicular cancer occurs most often in young and middle-aged men. The good news is, it can usually be treated successfully.
The most common symptom of testicular cancer is a lump on your testicle. But that’s not the only sign of this disease.
Men who have testicular cancer may experience several different kinds of symptoms, says oncologist Timothy Gilligan, MD, a Medical Oncologist at Cleveland Clinic who specializes in treating testicular cancer.
Testicular cancer most frequently strikes men younger than age 44, and is the most commonly diagnosed cancer for men ages 15 to 34. It is almost always curable if found early, Dr. Gilligan says, and it is usually curable even when at a later stage. So it’s important to know signs and symptoms.
Here, Dr. Gilligan says, are five possible signs of testicular cancer you might not know about:
5 Testicular Cancer Symptoms That Aren’t a Lump – Know what to look for and catch it early
- A feeling of heaviness or pressure in your scrotum.
- Change in testicle size or firmness.Certain types of testicular tumors can reduce testosterone or increase estrogen in the body, which can result in a change in testicle size or firmness.
- Swollen legs.When a tumor spreads to the lymph node, it can constrict blood flow in the veins and result in a blood clot. The clots often occur in the legs, which causes them to swell. You might even experience blood clot symptoms such as pain and difficulty breathing.
- Lower back pain and shortness of breath.These are symptoms of advanced testicular cancer, meaning the cancer has spread to lymph nodes behind your stomach. Shortness of breath also may signal that the cancer has spread to your lungs, which may make it harder for air to move in and out.
- Breast growth or tenderness.In rare cases, hormone changes also can cause breast tenderness or growth of breast tissue. Some tumors can secrete high levels of a hormone called human chorionic gonadotropin (HCG), which stimulates breast development.
If you experience any of these symptoms, make an appointment with your doctor right away, Dr. Gilligan says. If your physician diagnoses you with epididymitis or orchitis and the symptoms do not resolve quickly with antibiotics, request an ultrasound to evaluate for a testicular tumor.
“While up to 95 percent of men with testicular cancer are cured, it’s important to get care quickly if you’re experiencing symptoms because testicular cancers usually grow fast,” Dr. Gilligan says. “If there is disease, the earlier it is treated, the greater than chance for success.”
Signs of Recovery in East Grand Bahama Habitats Scarred by Hurricane Dorian
#TheBahamas, November 30, 2021 – In the pinelands and mangroves that make East Grand Bahama so distinctly unique, nature is replenishing itself from the massive destruction of Hurricane Dorian. The restoration slowly taking shape is evidence that the death and devastation that the massive storm left behind is giving way to new life, according to biodiversity experts and scientists who recently conducted field assessments.
The biodiversity consultants with the Implementing Land, Water and Ecosystems Management (IWEco) in The Bahamas project have concluded a new phase of field surveys in East Grand Bahama. The team assessed pinelands and wetlands, collecting detailed information on the habitats and the life forms they support for a biodiversity inventory that will be published as part of the project.
“We have yet to see a standing pine tree that remains alive. In different types of pine habitats, however, you’re seeing different rates of recovery, with seedlings beginning to be established and these seedlings are typically anywhere from eight to 12 inches tall, and some we’ve seen are two to three feet tall,” Mark Daniels, biodiversity consultant with BRON Ltd. said.
The biodiversity team spent more than a week conducting point counts, walking transects and vegetation plots to better understand the recovery process of pine and wetland areas in East Grand Bahama since Hurricane Dorian in 2019.
“The external fringes of those mangrove systems remain dead. However, in the more protected interior regions of these mangrove patches you are seeing mangroves returning and those creek systems where you have mangrove habitats that are inland and protected from the full force of the sea, are also recovering and looking very healthy,” Daniels said.
The biodiversity team also saw several species of wetland and forest birds as well as endemics like the Bahama Yellowthroat and Bahama Woodstar as well as pine saplings that are growing in areas where the trees were dead. Information on the wildlife in East Grand Bahama will also be included in the biodiversity inventory that will be made public.
“We are seeing a lot more birds in the area but most of them are winter migrants from North America coming to The Bahamas and their presence increases our avian fauna by over 50 per cent,” said Scott Johnson, biodiversity consultant with BRON Ltd. “What’s also interesting is that some of the highest diversity of birds we are seeing is in patches of coppice areas in East Grand Bahama. These birds are occupying sites that have a variety of plant species that are producing flowers and some fruits so they have food resources.”
Although the Bahama Yellowthroat and Bahama Woodstar have been observed in the area, other pineland species of birds have not been seen since Hurricane Dorian in 2019, he added.
“I fear that they may have been extirpated from the East Grand Bahama area. Until that pineland ecosystem comes back which may allow for new immigration of birds in that area, chances are that we may not see Bahama Warblers, Olive-Capped Warblers, or Cuban Emeralds in that area for a while,” Johnson said.
The IWEco The Bahamas project is part of a larger, regional undertaking for the Caribbean funded by the Global Environment Facility (GEF) and implemented by the United Nations Environment Programme (UNEP). For The Bahamas, the Department of Environmental Planning and Protection (DEPP), the Forestry Unit, the Ministry of Public Works and Bonefish & Tarpon Trust are the leading partners.
The work that is being done towards creating a biodiversity inventory is pivotal as it will not only benefit the natural environment but involve citizens more closely in sustaining it. East Grand Bahama has a diverse ecosystem in its plant and animal life as well as its habitats. Investigating and gathering a record of all these life forms is a key part of developing the systems and driving the adaptation to make the environment stronger.
“The Biodiversity Inventory conducted under the IWEco project and its respective findings show significant signs of ecosystem regeneration, and therefore signs of hope as it relates to Hurricane Dorian recovery,” said IWEco The Bahamas National Project Coordinator Melissa Ingraham. “The inventory, amongst other project aspects, such as the development of an ecotourism sector and capacity building opportunities will be incorporated into a watershed management plan to sustainably guide resource use and management at a community based level.”
The project aims to develop and implement of integrated systems that support ecosystem health and strengthen national monitoring and evaluation systems. Other goals include policy, legislative and institutional reforms to increase capacity for sustainable natural resource management and deepening the knowledge that is key for effective stakeholder involvement.
Header: Gathering information for the biodiversity inventory from the pineland forest near West Gap Creek.
1st Insert: These dead mangroves at Ridge Creek are among the lingering signs of Hurricane Dorian’s trek across East Grand Bahama.
2nd insert: Members of the IWEco The Bahamas biodiversity team visit the mangroves at Ridge Creek where there are signs of recovery.
Press Release: IWECO
MOSSUD to adopt ‘You are Somebody’ Programme in early 2022
#TheBahamas, November 30, 2021 – Minister of Social Services and Urban Development, the Hon. Obadiah Wilchcombe said his Ministry will adopt the “You are Somebody” Programme within the first quarter of the year 2022 as a means of ensuring that the community of persons with disabilities are included in all aspects of society.
Minister Wilchcombe was addressing the Church Service held (Sunday, November 28 at Living Waters Kingdom Ministries) to officially launch Disability Awareness Week in The Bahamas. The Week runs November 27 to December 4 under the theme: ‘Inclusion for All.’
Inclusion, Minister Wilchcombe said, has been more of a word, than an action.
“The Bible tells us that our gifts open doors,” Minister Wilchcombe told his inhouse and virtual audience. “The Bible didn’t say that you have to be able or living with a disability; the Bible says that all of us have gifts and that we should all utilize our gifts, and leadership must do what it can to lift those gifts and make them useful for communities, for societies, for our country.
“My purpose here today is to tell you that over the next several months, all of the things you thought were left, were gathering dust, will be lifted, will become part of the dialogue in this country and will become a part of the action taken by the Ministry responsible for Social Services and Urban Development (to ensure inclusion). I thank you. I appreciate you. You are somebody.”
Speaking formally for the very first time (outside of the House of Assembly) as Minister regarding one of the units that fall under his remit, Minister Wilchcombe told members of the community that the “You are Somebody” Programme (the name is adopted from the words of U.S Civil Rights icon, the Reverend Jesse Jackson) will help to address some of the many issues still facing the community of persons with disabilities in The Bahamas.
“I have a difficulty with the fact that so many of you, in general, feel marginalized; I have a difficulty because you are not to be considered separate and different in our communities; I have a difficulty because inclusion has been more of a word than action, that there is still discrimination, that we have not done some of the things that we were supposed to do legislatively; that you still do not have transportation that you ought to have.
“We still have not created the Foundation that was intended to raise funding. The truth is we have not fulfilled the agenda, we have not done what we ought to have done, and so I have come to tell you that my Ministry will be adopting, in the first quarter of next year, a simple programme for the disabled and the programme will be titled – and I borrow the words of Jesse Jackson – ‘You are Somebody’ and we will do all we must to ensure that you are included.”
Minister Wilchcombe said the Ministry will “lead by example.”
“I am going to ensure that at the Ministry itself, that we lead by example. Those who wish to discriminate and do not wish to provide jobs and employment, well I don’t see why you can’t be receptionists; I don’t see why you can’t be working throughout the Ministry; I don’t see why the Ministry cannot set the example and cause others to follow. And so, we shall lead. My purpose is to ensure that you have an appreciation that you are loved, and that you are appreciated,”
Minister Wilchcombe also shared the stories of his brother, Richard, whom he said is autistic, and his best friend, a female, who spent most of her life in a wheelchair.
“What I found most interesting about both is that they have never been excluded, always included, always individuals who were present with incredible capacity, talent – in fact my brother always teases me that he can do things I can’t,” Minister Wilchcombe added.
By Matt Maura
Header: Minister of Social Services and Urban Development, the Hon. Obadiah Wilchcombe addressing Sunday’s Church Service that officially launched Disability Awareness Week in The Bahamas. The Church Service was held at Living Waters Kindom Ministries. The Week runs November 27 – December 4.
1st insert: Bahamas Ambassador to CARICOM, Her Excellency Leslie Miller-Brice (third left), joined the community of persons with disabilities for Sunday’s Church Service launching Disability Awareness Week in The Bahamas. Her Excellency is pictured with (from left): Mr. Kendrick Rolle, Disability Affairs Division; Miss Christina Fernander, Secretariat, National Commission for Persons with Disabilities; Mrs. Desire Clarke, Deputy Secretary, Secretariat, National Commission for Persons with Disabilities (to Her Excellency’s left); Mrs. Annette Lunn, Sign Language Interpreter/Community of Persons who are Deaf or Hard of Hearing; Mr. Kelvin Lunn and Miss Tamera Lunn.
2nd insert: Mrs. Annette Lunn provides Sign Language Interpretation for the community of persons who are Deaf and Hard of Hearing during Sunday’s Church Service. Sign Language Interpreters help to bridge the communication gap for the community. Sign Languages are an extremely important communications tool for members of the Deaf and Hard of Hearing community.
(BIS Photo/Ulric Woodside)
FIND US ON FACEBOOK
News1 week ago
Premier and Deputy Premier discussed high-priority issues with UK Government at Joint Ministerial Council Forum in London
News5 days ago
Boat Capsizes, no bodies found…yet
News5 days ago
Assurances from Premier & Tourism Minister ahead of Beach Vendors Bill DEBATE
News5 days ago
Governor statement on November 29 Capsized Sloop
News1 week ago
Caribbean Development Bank to offer solutions for TCI with Sea Defences
News5 days ago
Call for Boycott of the Bill; Vendors say the move will “Kill” business
News5 days ago
Canopy Coming and Reno Planned for two major airports, Officials Update
News1 week ago
Land must be cleared for two new Coastal Radars to boost Border Security