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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

Drug Seizure Turns Deadly in Haiti: Bahamian and Jamaican Citizens Caught in Crossfire During Historic Bust

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By Deandrea Hamilton | Editor

July 18, 2025 – A historic cocaine seizure by Haitian authorities has left at least three men dead and others critically injured, following a bloody and chaotic incident at sea on Sunday, July 13.  The event, which Haitian police say resulted in the recovery of nearly 100 kilograms of illicit drugs, has turned tragic and controversial, with Bahamian and Jamaican citizens at the center of the operation.

The scene, captured in disturbing video footage released by the Haitian National Police, showed two bloodied men aboard a speedboat. Their bodies were visibly torn by what appeared to be multiple gunshot wounds — blood soaked parts of the vessel.  The Jamaican man appeared near death, weak from both the injuries and the sun.  In the footage, Haitian police officers are seen dousing him with cool water in an effort to stabilize him.  His condition remains unknown.

The Bahamian survivor, still alert, was seen speaking on camera, identifying himself and acknowledging involvement.  In a separate video obtained by Magnetic Media, the same man is seen later, lying barely conscious on a stretcher, appearing gravely wounded and struggling to breathe.

The Bahamas Ministry of Foreign Affairs confirmed on Sunday that it received unverified reports via its embassy in Port-au-Prince that three Bahamian males and one Jamaican male were on a boat when they were shot at by unknown individuals.  Two Bahamians were reportedly killed and one hospitalized.

Haitian police accounts offered a different version, stating they intercepted a rowboat heavily laden with drugs.  That report claims two Jamaican citizens drowned, one of whom was taken to the morgue, and that a Bahamian is in police custody.

The discrepancy between the reports has generated significant confusion, with details still emerging.  Both Haitian and Bahamian officials have not confirmed who fired the shots, or what precisely led to the violent confrontation.

Adding another layer to the investigation, regional sources suspect the drugs were being trafficked either from Jamaica to Haiti or vice versa — making the Jamaican citizens potentially key figures in the suspected inter-island smuggling route.

The Bahamas Ministry of Foreign Affairs stated:

“We still await the formal notification from the Haitian government as to what transpired on Sunday, July 13.  We are in touch with the authorities and are pressing them to respond.”

The Ministry added that it is providing support to the affected families in The Bahamas.

Meanwhile, both The Bahamas and the United States have reissued “Do Not Travel” advisories for Haiti, as the security situation continues to decline.  Armed gangs remain in control of major areas, and the United Nations reports that over 5.2 million Haitians are facing food insecurity amid ongoing civil collapse.

While Haitian authorities call the operation a milestone in counter-narcotics enforcement, the lack of clear answers — and the evident human toll — has cast a long shadow over the bust.

This is a developing story.

 

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Bahamas News

MSC Cruises Hosts NexGen Young Men for Tour Aboard MSC Seascape

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Senator Ronald C Duncombe, founder of the NexGen Young Men Mentorship Program with mentorees on board MSC Seascape

Nassau, The Bahamas – July 15, 2025 – On Monday, June 16, MSC Cruises welcomed a group of young men from the NexGen Mentorship Program aboard  MSC Seascape while in port at Nassau Cruise Port. The visit provided the young Bahamian men with a firsthand look at the maritime industry, focusing on excellence in operations, global hospitality, and career pathways.

The initiative was made possible through the leadership of Mr. Rick Sasso, Chairman of MSC Cruises (USA), whose longstanding connection to The Bahamas and deep commitment to youth development made this experience especially meaningful. “The Bahamas holds a special place in my heart,” he shared. “Investing in young people, particularly those from a region so vital to our operations, is not only a responsibility but a privilege. We want these young men to see that a future in this industry is within reach.”

Senator Ronald C Duncombe, founder of the NexGen Young Men Mentorship Program, expressed gratitude for the experience, noting its impact on the participants. “This was more than a ship tour; it was a vision-setting moment,” said Senator Duncombe. “These young men left MSC Seascape inspired, motivated, and with a broader sense of what’s possible. Our mission is to build disciplined, purpose-driven leaders and this opportunity aligns perfectly with that goal.”

Hosted by Captain Francesco di Palma, the group was given a guided tour of MSC Seascape, offering a behind-the-scenes look at the vessel’s operations and world-class amenities. The visit served as a powerful reminder of the global opportunities available through hard work, discipline, and vision, and underscored the importance of investing in young minds for a better future.

With such initiatives, MSC Cruises continues to reaffirm its role as a committed partner in the country’s maritime and tourism sector.

Captain Francesco di Palma tours NextGen onboard MSC Seascape

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Bahamas News

Health Survey Revealed that One in Five Bahamian Students Between the Ages of 13 and 18 Has Attempted Suicide

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By Llonella Gilbert
Bahamas Information Services

 

 

NASSAU, Bahamas, July 14, 2025 – Prime Minister and Minister of Finance the Hon. Phillip Davis said the 2025 Global School Health Survey revealed that one in five Bahamian students between the ages of 13 and 18 has attempted suicide.

“One in five. That number is staggering and heartbreaking,” the Prime Minister said during the signing of the Framework Agreement between Governments of The Bahamas and the People’s Republic of China for the New Providence Specialty Hospital held at the Office of The Prime Minister on Friday, July 11, 2025.

He said, “There is no single cause, but we know the pressures are real: the expectations, the silence, the bullying, the economic strain at home, and the ever-growing influence of social media.”

The Prime Minister explained that the images, the comparisons, the pressure to be perfect is too much. “Our children are carrying burdens many of us cannot see, and in some cases, cannot even begin to understand.”

He said, “This is not just a health issue. This is a moral issue. This is a national issue. It is a call to action for the government, for parents, for teachers, for churches, for communities.”

The Prime Minister said the Government took a major step forward in 2022 with the passage of the new Mental Health Act, the first meaningful reform to the nation’s mental health legislation in nearly 60 years. “We did not just pass a law; we laid the foundation for a new era in how we support those who are struggling.”

He added, “We have begun training more professionals — doctors, nurses, and community health workers — and we are training our guidance counsellors and educational officers to recognize the signs, to intervene early, and provide support that works.

“But legislation alone is not enough. Training alone is not enough.

“We also have to change how we show up in the lives of our children.”

The Prime Minister explained that a tablet cannot take the place of a conversation. An iPad cannot substitute for quality time, and the pressure children face from the constant pull of social media — the comparisons, the online cruelty, the need to be liked, followed, validated — is harming them. “And we have to do more to shield them.”

He said, “As a country, we cannot afford to lose our children to silence. We cannot allow pain to hide in plain sight. Every life matters. Every voice deserves to be heard. Every young person deserves to know they are not alone.”

The Prime Minister said that in addition to building up the physical infrastructure, he wants the nation to commit to building an emotional and social infrastructure, strengthening the systems of care and compassion that will help every Bahamian, especially the youth, to live with dignity, purpose, and hope.

He added, “To our partners in the People’s Republic of China, I thank you for standing with us in our pursuit of a healthier Bahamas.  To the Bahamian people, I want you to know that we see the need, we feel the urgency, and we are acting.

“The work continues. And we will see it through together.”

(BIS Photo/Mark Ford)

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