2010 Trading Conditions Survey Results

Gibraltar’s business community says: Short term outlook remains tough but longer term is brighter Results from the Chamber’s annual Trading Conditions survey are in and at first glance the key trends are clear: Respondents across all sectors are optimistic about Gibraltar’s prospects in the long term but they are now more cautious about the immediate future than they were twelve months ago. Primary concerns of businesses are continued increases in costs during this period and increased competition from Spain and elsewhere. These competitors do not have the same high cost base as...

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Chamber congratulates Marvin Cartwright on promotion to RBS Country Manager

The Board of the Chamber congratulates Marvin Cartwright of the Royal Bank of Scotland and a Chamber board director, on his recent promotion to Country Manager for Royal Bank of Scotland Gibraltar. His fellow Chamber directors are delighted that his expertise and dedication have been recognised in such an appropriate manner. Nicholas Russo, Chamber President commenting on the announcement said, ”This is excellent news for Marvin, for RBS/NatWest and for Gibraltar. To have a Gibraltarian heading up one of the Rock’s most important financial institutions is a testament to the quality of...

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Chamber condemns lawbreakers

Name, shame and fine the offending traders The Chamber agrees with Unite and also with the GFSB that paying staff below the statutory minimum wage to workers in Gibraltar is totally unacceptable. Furthermore, if the Union knows of any employers in Gibraltar who are paying below the minimum wage, the Chamber urges the Union to inform the ETB immediately and furnish the ETB with sufficient proof for them to fine the recalcitrant employer accordingly. The Chamber, on behalf of its many members, would never condone such a practice by any company in Gibraltar, whether they are a member of the...

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Chamber to Mail Sorters: Just do your job

The Chamber, on behalf of its members, is appalled by the refusal of mail sorters to do their job. It has emerged that Sorters work just three hours a day but are paid for twelve hours. Now they are refusing to perform a task that they are paid to do, open the mailbags. What sort of fantasyland are these people living in? For many local businesses 2009 has been a tough year: the strength of the euro has eroded traders’ margins, reduced consumer spending has led to a drop in sales and the global recession has forced some members to make job cuts. To learn that a small number of workers...

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Chamber and Union recommend caution as inflation shows sharp fall

Following a recent meeting, the Gibraltar Chamber of Commerce and Unite, the Union have concluded their negotiations for this year’s increase in minimum wages for workers in the Retail and Distributive Trades. Rates will be increased by 1%.  These are minimum rates, established where there is no collective bargaining agreement between the union and employers. The recently published annual inflation figure shows a rate of 3.4% for the year ended December 2009.  However, during the final quarter of 2009 there was a decrease of 1% in the inflation rate.  The lead up to the Christmas season...

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Chamber and Union Present United Front

The Chamber supports Unite’s campaign targeting illegal labour. There is universal recognition that unregistered workers and unlicensed traders have an adverse impact on Gibraltar’s economy. An employer paying below the legal minimum wage is not only abusing the employee but also creating an unwelcome distortion to the local labour market. The Chamber urges any employee who is paid below the minimum wage to inform the ETB in the first instance. If the Union is aware of any employee who is not registered then they should inform the ETB without delay. Similarly, if someone knows of any...

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