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PwC Global Launches 21st Global CEO Survey

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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.

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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.

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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%).

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Bahamas News

Inspired Abroad, Proudly Bahamian

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DEAR EDITOR,

Sometimes the best ideas come from experiences far away from home.

It was while I was living in Europe that I saw how excited people were about England’s iconic double-decker buses. It was a symbol of culture – and visitors looked forward to the ride as an experience in itself rather than just a method of transportation.

That sparked a thought: What if we brought that same excitement to The Bahamas, but made it uniquely Bahamian?

In November 2024, that thought became 2 Storeys Tours. I wanted visitors to see Nassau in a way they had not been able to before. That meant they could come straight off a cruise ship and onto a double-decker to see what makes our country what it is – to see our beautiful waters and to discover what makes us Bahamian.

We wanted to create something memorable, something visitors would associate with their Bahamian vacation, just as people associate double-decker buses with England.

The bus may catch your attention, but The Bahamas is what makes the experience unforgettable.

We also believe tourism should create opportunities for Bahamians.

We started less than five years ago with one very used double decker bus.

Now thanks to cruise ship business, we have quadrupled the size of our little fleet. We now have four shiny new red and blue buses, so we can say Welcome Ashore in style.

Depending on the season, between 70 and 80 percent of our business is cruise-passenger driven. Even during the slower season for hotels, the cruise ships arrive filled with people looking to explore historic Nassau and we are giving them the closest to a bird’s eye view as they can get. And they love it.

Turning an idea into a functioning business has been an exciting journey, but certainly not without challenges. From planning and preparation to finally seeing our buses on the road, the experience has taught us patience, perseverance, and the importance of believing in a vision.

We are proud of how far we’ve come, and even more excited about what lies ahead.

Building partnerships helped us to get to where we are today – building them further will take us to where we can reach tomorrow.

Our ambition is to make 2 Storeys Tours a recognised and trusted name in Bahamian tourism. We want to continue improving our tours, developing new experiences, embracing environmentally responsible tourism, and building meaningful relationships – and eventually take the 2 Storeys Tours experience beyond Nassau to other islands.

Above all, we want to build something that lasts.

Looking back, it’s incredible to think that an observation while living in Europe could lead to a business right here at home.

What began as an idea became a business with a purpose, and we’re only getting started.

Our inspiration came from abroad. Our passion comes from home. And our future is proudly Bahamian.

 

By: KEEVON MAYNARD

President, 2 Storeys Tours

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Bahamas News

Federal Investigation into Florida Turnpike Tragedy that Killed Three Children of Bahamian Mother

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NTSB examining roadside assistance driver’s actions, SUV speed and seat belt use after six people perish in fiery collision

ORLANDO, FLORIDA — October 29, 2026 — Federal investigators have joined the investigation into a horrific Florida Turnpike collision that claimed six lives, including all three children of a Bahamian mother, as questions intensify over what caused the deadly crash.

The United States National Transportation Safety Board (NTSB) has confirmed that it is opening an investigation into the October 23 accident, which occurred around 9:31 p.m. near mile marker 252 in Orange County.

The agency’s involvement brings federal scrutiny to a tragedy that has devastated several families and prompted an extraordinary outpouring of sympathy and disbelief.

Among those killed were siblings Charles Milton, Jakara Milton and Dalvena Green, the three adult children of Marshall Clarke-Milton and her husband, Charles Milton Sr.

The siblings were traveling with three others to Universal Orlando’s Halloween Horror Nights, reportedly on their first trip together.

They never arrived.

FEDERAL INVESTIGATORS EXAMINE WHAT WENT WRONG

The NTSB confirmed to FOX 35 Orlando that its investigation will examine the training and performance of the roadside assistance driver, the actions of the SUV driver, including speed, and whether the occupants were wearing seat belts.

The agency investigates serious transportation accidents to identify safety failures and recommend measures that could prevent similar tragedies.

Its involvement does not establish wrongdoing by either driver.

The Florida Highway Patrol is conducting a separate investigation into the collision.

According to the preliminary police account, a Road Ranger roadside assistance truck had been parked in the highway median before its driver received instructions to assist a disabled box truck on the opposite shoulder.

As the Road Ranger moved across the northbound lanes, it collided with a 2023 Chevrolet Traverse carrying six adults.

Both vehicles left the roadway and caught fire.

All six occupants of the SUV died at the scene. The Road Ranger driver survived with minor injuries.

MOTHER CHALLENGES EARLY ACCOUNT

Witnesses reportedly told investigators that the SUV was traveling at high speed without its headlights illuminated.

However, those observations have not been established as the definitive cause of the collision.

Clarke-Milton has challenged suggestions that her children or their companions were responsible, urging investigators to examine the evidence before reaching conclusions.

She wants investigators to establish the SUV’s actual speed and determine whether its headlights were operating.

The family’s concerns underscore the importance of the continuing investigations, particularly given the movement of the roadside assistance vehicle across active highway lanes.

ALL THREE CHILDREN LOST

For Clarke-Milton, the investigation unfolds against an almost incomprehensible personal tragedy.

She lost all three of her children simultaneously.

In an emotional interview with FOX 35 Orlando, the grieving mother described the terrible feeling that overcame her when she could not reach them.

“My heart sank,” she said, recalling the moment she feared her children were involved.

The siblings were among six people whose lives ended during what should have been an enjoyable evening together.

The other victims included Timothy Williams and Shawn Palmer. A sixth person’s identity had not been publicly confirmed in the latest reports reviewed.

The family’s heartbreak has resonated across The Bahamas and beyond, with expressions of sympathy accompanying calls for answers.

SEARCH FOR ANSWERS CONTINUES

The Florida Highway Patrol has indicated that a crash report is expected within approximately ten days of the accident.

The NTSB’s investigation will examine broader transportation safety concerns, including the operation of roadside assistance vehicles and the circumstances surrounding the collision.

For the grieving families, the findings cannot reverse the tragedy.

But they may establish what happened on that stretch of Florida’s Turnpike and whether anything could have prevented six people from losing their lives.

For one Bahamian mother, the loss is especially devastating.

Three children left for an evening of entertainment. Not one came home.

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Bahamas News

Bahamas Issues Cybersecurity Alert Over Akira Ransomware Threat

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Nassau, The Bahamas, October 22, 2026 — The National Computer Incident Response Team of The Bahamas (CIRT-BS) has issued a cybersecurity advisory warning businesses, government institutions and other organisations about the growing threat posed by Akira ransomware, a cybercriminal operation capable of stealing sensitive information, disrupting networks and demanding ransom payments.

Active since March 2023, Akira operates through a Ransomware-as-a-Service model, with affiliates exploiting weaknesses in computer networks to gain unauthorised access.

Once inside, attackers can steal confidential data, disable recovery systems and encrypt files, preventing organisations from accessing critical information.

Particularly concerning is Akira’s use of double extortion, threatening to publish stolen information unless victims pay. Some attacks involve data theft without encryption.

The October 22 advisory identifies vulnerabilities involving Cisco and SonicWall firewalls, VPN services, Microsoft Remote Desktop Protocol, Veeam backup systems and outdated Windows and Linux operating systems. VMware ESXi and Nutanix AHV environments are also potential targets.

Attackers may exploit unpatched software, stolen login credentials and inadequately secured remote-access applications, including AnyDesk and RustDesk.

Warning signs include unexpected administrator accounts, unusual remote logins, unauthorised software installations, suspicious backup activity, mass file changes and ransom notes.

CIRT-BS recommends immediate security updates, multifactor authentication, restricted remote access, stronger network monitoring and secure backups maintained separately from operational systems.

Organisations should also remove unnecessary internet exposure of remote desktop services, limit administrative privileges and regularly test backup restoration.

The advisory does not identify any confirmed Akira attack against a Bahamian organisation but highlights vulnerabilities that could expose institutions to serious financial and operational disruption.

Cybersecurity incidents can be reported to CIRT-BS at soc@cirt.bs or through its official website.

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