BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A LIMESTONE quarrying business headed by a former prime minister’s brother has seen its $24m damages claim over Hurricane Dorian-related oil pollution survive the bid by South Riding Point’s ex-owner to strike it out.
Justice Andrew Forbes, in a February 9, 2026, verdict found it was “unreasonable” to dismiss the claim by Bahamian Frutee Delite Company, whose principal is Cyril Minnis, brother of Dr Hubert Minnis, at this stage of proceedings against Equinor, the Norwegian energy giant, because there is sufficient evidence to
support a full trial on the case’s merits.
The legal battle, which has been raging for more than five years, centres on Bahamian Frutee Delite’s assertions that oil from the South Riding Point terminal “escaped” during the devastating Category Five storm that struck Grand Bahama in early 2019 and polluted its limestone quarrying business located across the road. Mr Minnis and his company are alleging that the spill was caused by Equinor’s “negligence and nuisance”, and its purported failure to properly secure its storage facility and fuels it held.
Equinor, though, in its defence is alleging that Mr Minnis and his company no
DPM tells cruise lines: Help drive passengers off vessels
BY FAY SIMMONS Tribune Business Reporter
jsimmons@tribunemedia.net
THE deputy prime minister yesterday signalled a more assertive approach towards maximising the cruise industry’s economic benefits for Bahamians as he urged the industry to help drive more passengers off ships while in port to patronise local businesses.
Speaking at a meeting with the cruise lines, Chester Cooper, also minister of tourism, investments and aviation, said the Government is seeking measurable improvements in how cruise tourism translates into Bahamian wealth. He outlined a multi-pronged plan that involves rebalancing taxation responsibilities and increasing in-destination spending by passengers as part of a broader push for “shared prosperity”.
“Bahamians must share more fairly in the value of the cruise industry,” said Mr Cooper. “We are here to tighten expectations, strengthen collaboration and make decisions that can be measured in real improvements on the ground and in the livelihoods of Bahamian men and women.”
Among the priorities outlined was what he described as a need to “move closer towards a happy medium” in balancing taxation responsibilities across the cruise economy. While acknowledging the value of record passenger volumes, Mr Cooper said the economic model must better reflect the impact on local infrastructure and ensure Bahamians see tangible returns.
“Fairness strengthens trust. Trust strengthens partnership. And partnership strengthens performance,” said Mr Cooper. “When my shareholders ask me what we are getting, I must articulate clearly and confidently.”
Mr Cooper also urged the cruise lines, such as Carnival, Royal Caribbean, Disney and their subsidiaries, to help drive more passengers beyond the confines of their vessels and into the wider Bahamian economy.
He said The Bahamas is “more than a port of call”, stressing that visitors must be encouraged to explore local culture, cuisine, heritage and attractions throughout the destination.
Mr Cooper added that encouraging passengers to come ashore must also translate into higher spending in Bahamian destinations - not merely as an obligation but because the experience compels it. He said that when Bahamian enterprises become economically
Limestone quarrying business sees off Equinor strike-out
Judge: Dismissing Bahamian Frutee Delite ‘unreasonable’ Ex-South Riding Point owner says Dorian an ‘act of God’
longer held a valid lease for the 85.35-acre site because it had expired - and never been renewed - when the storm struck. Thus it is challenging his claim to have “legal rights” the oil-damaged property, while also asserting that Dorian and its catastrophic impacts were “acts of God” that it
cannot be held liable or responsible for.
Neither Cyril Minnis nor Dr Hubert Minnis could be reached for comment before press time last night, but multiple sources - as well as other Supreme Court judgments - confirmed that the former is Bahamian Frutee
Delite’s principal. And, while their action survived Equinor’s strike-out bid, Justice Forbes found they had committed a “significant breach” in failing to file all necessary evidence by the deadline set by the Supreme Court.
As a result, he ruled that they were not entitled to relief from the relevant “sanctions”, such as fines and penalties, and barred them from filing any further documents and evidence - including witness statements - related to the case.
Justice Forbes, in his verdict, recorded Bahamian Frutee Delite’s claim to be the “tenant and occupier” of the 85.35-acre site located on the northern side of South Riding Point’s
‘Don’t destroy what makes Eleuthera so truly special’
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
ELEUTHERA’S Chamber of Commerce president yesterday warned the island is “moving along haphazardly” without a strategic development plan to properly harness its “exponential” growth, adding: “We have to be careful that we don’t destroy what makes Eleuthera truly special.”
Thomas Sands, speaking after a US gaming and hospitality owner last week disclosed that he is considering “ideas” for a Governor’s Harbour development that include a “boutique” casino, told Tribune Business that ever-increasing investor and developer interest must be incorporated into a proper long-term strategy that treats Eleuthera’s communities and “way of life” as equally important. Suggesting that there will likely be a “discussion story” around the proposals being advanced by Jeff Jacobs, principal of Jacobs Entertainment, he added that the level of investor interest in Eleuthera has increased drastically over the past five to ten years and - with critical infrastructure such
Chamber chief: Island ‘moving haphazardly’ without plan
Must marry ‘exponential’ growth with capacity, way of life’ Casino proposal ‘tied to hip’ of Governor’s Harbour area
as electricity and water already under “strain”the island is “being pressed to focus on a development plan as quickly as we can”.
Asserting that this is critical to preserve “quality of life” for Eleuthera residents, and what attracts tourists and investors to the island in the first place, Mr Sands told this newspaper he wants to learn more details about what Mr Jacobs is proposing for Governor’s Harbour before reaching his own
“conclusions”. However, he acknowledged that any project - unlike many others that are developed on remote, ‘greenfield’ sites - will be “tied to the hip” of that settlement and its residents.
“Growth in the economy is positive,” the Chamber chief said of Mr Jacobs’ interest. “I get the sense that there are a lot of concerns from various groups about the planning, the execution. I think there’s a mixed type of feeling: Is this the right path for Eleuthera and Governor’s Harbour? I would say that, from a personal perspective, I want to learn more about it before coming to any kind of conclusion.
“But I think there’s some interesting discussions because the project surrounds an existing community - it’s not like a development that is
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Attorney General says legislation newly-tabled in the House of Assembly will provide “another tool in our toolbox” to boost the Bahamian financial services industry’s competitiveness through attracting increased business from Brazil and other jurisdictions.
Ryan Pinder KC, in a messaged response to Tribune Business inquiries, said the Usufruct Interest Bill 2026 is a direct response to demand for such a product from high net worth Brazilian clients and their financial advisers.
He added that The Bahamas’ own usufruct structure will be launched during a trade mission to Brazil next month, and confirmed that the structure, which gives persons the right to use and enjoy the advantages of property they do not own, represents The Bahamas again
taking a product popular in civil law jurisdictions and applying it to this nation’s common law system.
“We have had significant inquiry from Brazilian practitioners on the Usufruct structuring, which their clients use extensively for asset and estate planning,” Mr Pinder said of the rationale for the latest financial services product legislation. “We recognised that Brazil was not the only market where usufructs were used extensively.
“Most civil law jurisdictions utilise the usufruct for structuring. As such we formed a strategic private sector working group to work on the legislation to ensure widest adoption. This included practitioners from European civil law jurisdictions, Brazilian advisors and
main road opposite the Equinor storage terminal and transhipment facility. That location included a 20-acre quarry for the harvesting of limestone.
“The claimant alleged that, as a result of a Category five hurricane, Dorian, which struck Grand Bahama on September 1, 2019, a sufficiently large quantity of oil escaped the defendant's property and injured the claimant's property, caused by the negligence and nuisance of the defendants, their servants or agents,” Justice Forbes wrote of Bahamian Frutee Delite’s claim.
“The particulars of the claimant's action alleged
Year-long Bahamasair strike ban is upheld
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Court of Appeal has upheld a more than year-long “comprehensive” injunction barrring Bahamasair’s unionised groundstaff workers from striking and other industrial action following the pre-Christmas 2024 sick-out when just one-third of workers reported for duty.
Appeal justice Gregory Smith, giving the court’s unanimous February 11, 2026, oral verdict, found there was “reasonable” evidence to support the national flag carrier’s fears that the Airline, Airport and Allied Workers Union and its members may breach the Industrial Relations Act and thus justify the injunction’s continued imposition.
Describing the union’s appeal bid to overturn the injunction, and secure its removal, as “a serious matter that raised serious issues with far-reaching consequences”, he also dismissed its arguments that the stay, or bar, on industrial action could not apply to individual members and that the Supreme Court had not provided sufficient reasons to justify the decision it had come to.
Justice Darron Ellis had, on January 24, 2025, approved the continuation of the initial emergency injunction, which was first obtained at an emergency Supreme Court hearing where only Bahamasair’s attorneys were present on December 18, 2024. That halted industrial action, via a sick-out by flight attendants and others, which “couldn’t have been worse” timed since it almost entirely shut down the airline and resulted in hundreds of visitors and Bahamians being left stranded in the peak Christmas travel season. The union and all its members were barred from taking part in any strike or industrial
THOMAS SANDS
RYAN PINDER KC
Bahamian appointed to head Turks’ bank
A Bahamian with nearly 20 years’ experience at Royal Bank of Canada (RBC) and Scotiabank has been named managing director of British Caribbean Bank (BCB) in the Turks & Caicos Islands.
Marcus Moxey will held an institution that is part of a conglomerate with banking, real estate and interests in multiple industries throughout the region. He will lead Turks & Caicos’ fourth largest bank at time when it is playing an increasing role in the territory’s growth.
“Mr Moxey’s appointment reflects both his distinguished leadership career and the continuing elevation of Bahamian talent within regional banking,” BCB said in the statement announcing his appointment.
Mr Moxey has held various executive roles in The Bahamas. These include positions at RBC, where he advanced to oversight of four branches, and later at Scotiabank Bahamas. He moved to Turks & Caicos in 2023 to head up Scotiabank’s retail banking,where his quick adaptation of advanced technology, development of talent and ability to lead caught the attention of British Caribbean Bank.
Established in 1998 in Turks & Caicos, British Caribbean Bank – a division of the $2bn-plus Waterloo Investment Holdings Limited conglomerate – ranks as the island’s fourth largest financial institution with more than $200m in assets.
It enjoyed a 31 percent jump in growth in 2023.
BCB said that, in his new role, Mr Moxey will focus on advancing the bank’s strategic priorities, enhancing customer experience, strengthening operational performance and expanding competitive positioning. BCB currently holds more than 13 percent market share, a figure that reflects steady growth and increased presence in a market previously dominated by Scotiabank and CIBC.
Stewart Howard, Waterloo Investment Holdings chief executive, said: “We are very pleased to welcome Mr Moxey to British Caribbean Bank. He is an accomplished career banker with a proven track record of leading strategic initiatives and building strong teams.
“His appointment as the first Bahamian managing director of BCB reflects both his capability and our confidence in the depth of leadership talent within the region.”
Mr Moxey holds a bachelor’s degree from St Augustine’s University in North Carolina, a master’s degree in financial analysis from Kaplan University and maintains a Series 7 licence.
“I am truly honoured to join British Caribbean Bank and to serve in this historic capacity,” said Mr Moxey. “This moment is not only meaningful for me personally, but represents an important step forward
NOTICE
In the Estate of REUBEN ALEXANDER
FOX late of East Bay Street, Eastern District, New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.
NOTICE is hereby given that all persons having any claim or demand against the above Estate are required to send the same duly certified in writing to the undersigned on or before the 6th March 2026 after which date the Executrix will proceed to distribute the assets having regard only to the claims of which she shall then have had notice.
AND NOTICE is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned.
W. E. OLANDER & CO.
Attorneys for the Sole Executrix 432 Bay Street, Nassau, The Bahamas
NOTICE
414 Holding BH Ltd.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 204938 B. (In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 24th day of February A.D. 2026.
GB Shipyard’s new asset completes first dry dock
GRAND Bahama Ship-
yard says it has achieved another milestone in its ongoing $665m redevelopment initiative by completing the first dry docking at its newly-commissioned East End floating dock.
The cruise vessel, Carnival Elation, was the first ship to be lifted at the dock - a move that formally launched regular operations at the new facility. Grand Bahama Shipyard said the docking represents its transition to a fully operational two-dock business, with plans to expand to three docks once the larger Lucayan floating dock arrives in late 2026.
The East End dock, constructed by CSSC Qingdao
Beihai Shipbuilding in China, measures around 357 metres in length and has a beam of about 70 metres. It is engineered to lift vessels of up to 93,500 tons. Equipped with four cranes and modern control systems, the floating structure enhances the Shipyard’s technical capability and operational flexibility. Shoreside infrastructure improvements, including pier extensions, were completed to support the dock’s integration into daily operations.
Carnival Elation entered dry dock on January 16, 2026, for a scheduled maintenance period and returned to service on February 9, 2026, as planned. The project included
technical and statutory work required for continued service. The Shipyard said the docking was completed successfully and delivered on schedule.
Chris Earl, Grand Bahama Shipyard’s chief executive, said: “The first docking following a significant investment in a new facility represents the efforts, years of hard work, and determination of an entire team.
“Docking and delivering Carnival Elation on time is a reflection of that commitment, and serves notice of Grand Bahama Shipyard’s potential to become the world leading cruise ship repair facility in the coming years.”
Reaffirming its long-term vision of becoming the top cruise ship repair facility in the region, the Grand Bahama Shipyard said the East End dock restores and expands its multi-dock capability. It replaces the loss of prior docking assets in 2019, allowing the Shipyard to once again accommodate multiple cruise vessels at the same time.
Grand Bahama Shipyard is operated as a joint venture between Carnival, Royal Caribbean and Mediterranean Shipping Company (MSC) Cruises, positioning it at the centre of global cruise maintenance demand.
BTC’s parent key partner at Trinidad-based forum
LIBERTY Caribbean, the Bahamas Telecommunications Company’s (BTC) immediate parent, recently served as a key partner in the two-day Trinidad and Tobago Internet Governance Forum (TTIGF).
The carrier, in a statement, said low broadband Internet penetration throughout the Caribbean contributes to reduced opportunities for individuals, communities and local economies - something it
is addressing through its charitable foundation and JUMP initiative whicb focuses on providing access, devices and digital skills.
“Liberty Caribbean was proud to serve as goldlevel partner of the TTIGF because the conversations taking place here shape key digital policies for multiple stakeholders,” said Simone Martin-Sulgan, vice-president and general manager, Flow Trinidad.
THE BVI BUSINESS COMPANIES ACT, 2004 FITRUS LIMITED (the “Company”)
A BVI Business Company BVI Company N° 521367
NOTICE OF LIQUIDATOR’S APPOINTMENT
NOTICE IS HEREBY GIVEN pursuant to Section 204(1)(b) of the BVI Business Companies Act, 2004 that, Lambert Marlon Marquis, with address at c/o Alpha Solutions (BVI) Limited, The AlphaSphere, 1st Floor, Ellen Skelton Building, Fishers Lane, Road Town, Tortola, British Virgin Islands, has been appointed as the Voluntary Liquidator of the Company pursuant to a resolution of the directors of the Company dated 16th January 2026 and the resolution of the member of the Company dated 16th January 2026. Dated on this 20th day of January, 2026.
Sgd: Lambert Marlon Marquis Liquidator
NOTICE
DIAGRAM HOLDING LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 1500223 (IBC).
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 24th day of February A.D. 2026.
“As technology accelerates at an unprecedented pace, we must ensure that innovation strengthens our societies rather than fragments them. The theme, ‘The innovation paradox – balancing progress with responsibility and resilience’, speaks directly to the work we do every day: Building networks that are not only fast and reliable, but secure, inclusive and future-ready.
“Across the Caribbean, the digital divide remains one of the most pressing barriers to equitable growth. Low broadband penetration limits access to education, entrepreneurship
and essential services, and that is why we are deeply committed to closing this gap.”
Topics covered during the Forum, which attracted more than 140 participants, included ‘Securing critical ‘nfrastructure’; ‘Integrating AI into digital transformation’; ‘The digital divide’; ‘The human cost of innovation – mental health and well-being in the digital age’, and ‘AI, cyber resilience and regional innovation’.
Ms Martin-Sulgan added:
“At Liberty Caribbean, we believe progress and responsibility must move in lock step. By investing in resilient networks, inclusive programmes and trusted partnerships, we are helping to build a Caribbean that is innovative, secure and prepared for the opportunities ahead.”
NOTICE
ANIMA ANIMUS LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 205250 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 24th day of February A.D. 2026. CARLOS AUGUSTO MONTENEGRO FERRAZ LIQUIDATOR
MARCUS MOXEY
L TO R: Darren Campo, regulatory and compliance officer; Yolande Agard-Simmons, senior manager communications; and Kevon Swift, senior manager of government and regulatory affairs of Flow Trinidad, at the post-event mixer at the Caribbean Telecommunications Union’s head office in St Clair, Port of Spain.
GRAND Bahama Shipyard has successfully completed the first docking at its new East End floating dock.
Photo:Alfred Anderson/Barefoot Marketing
Religious tourism resurrected in bid to target $1bn market
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
THE Ministry of Tourism, Investments and Aviation has resurrected its religious tourism department in a bid to better target and tap into a niche market worth $1bn globally.
Dr Kenneth Romer, deputy director-general of tourism and director of aviation, yesterday said the revival will kick-off with the 77th General Convention of The Bahamas & Turks and Caicos Islands Council of The Pentecostal Assemblies of the World. He added that the ministry is in the initial stages of developing a strategic plan for religious tourism, while adding that cultural and heritage tourism are the “the tentacles” of faith-based tourism.
And the Government is also seeking to identify faith-based ambassadors across The Bahamas, which will include trainings
persons “across the denominational lines”. these ambassadors will spread the tourism message to partners in key source markets.
“We're going to do it bigger and better when it comes to faith-based tourism, cultural and heritage tourism, of course,”
Dr Romer added. “And, at the end of the day, we are tying into the national tourism narrative - not just exposing folks to our destination, but converting that demand into heads in beds and, ultimately, monies into the pockets of our local entrepreneurs and our stakeholders.
“So stay tuned. It's going to be an exciting plan that speaks to a comprehensive overview of what faithbased tourism should look like, and getting a greater slice, again, of this multi-billion dollar tourism pie.”
In partnership with Bahamas Ministry of Tourism, Investments and Aviation, the 39 Episcopal District, Bahamas and Turks and
Caicos Islands Council affiliates of the Pentecostal Assemblies of the World (PAW), led by diocesan bishop Dr Anthony Farrington, will hold their convention in this nation from March 1 through March 6.
More than 300 international delegates are expected to attend the “historic gathering”, with attendees coming from the US, Canada, Europe, Africa, Jamaica, Barbados, Haiti, the Dominican Republic and the Turks and Caicos Islands.
The convention, according to Bishop Farrington, is especially significant because The Bahamas will host the Bishop Board Meeting of PAW for the third time in history. The executive Bishops’ Council and the Board of Bishops of PAW will convene in The Bahamas for their mid-winter meeting, hosted at Baha Mar Resort. The convention will be held at the Transformation Ministries
Union: Gov’t neglecting concerns of IT workers
BY FAY SIMMONS Tribune Business Reporter
THE Bahamas Public Services Union (BPSU) yesterday accused the Government of failing to address long-standing promotion and salary concerns impacting workers at the Department of Information, Communications and Technology (DICT) as staff demonstrated outside the Prime Minister’s Office for the second time this year.
Kimsley Ferguson, the BPSU president, said his members are seeking reclassification, promotions and clarity on a revised salary adjustment they argue was introduced without proper consultation despite multiple written appeals to senior government officials.
“We are ensuring that all diplomatic avenues are exhausted before any potential future industrial action,” said Mr Ferguson.
“Some persons are at a disadvantage and are not receiving their true entitlements in relation to what they should be paid.”
Mr Ferguson said the core of the dispute centres on unresolved staff reclassifications into the new DICT pay scale, outstanding promotions and alleged instances of super-session within the Department of
Information, Communications and Technology.
While executive management has reportedly been placed on the new scale and received back pay, he said middle management and line staff remain awaiting similar adjustments, despite performing IT-related functions for years.
“The union is calling on the Government to address the outstanding concerns within the Department of Information, Communications and Technology, including long-standing issues regarding the reclassification of persons who have been functioning in various capacities in that department and have not been reclassified or promoted for over 12 years,” said Mr Ferguson.
The union is also arguing that several qualified and experienced officers were overlooked during the 2022 promotion exercise.
In letters dated October 2, 2025, and January 16, 2026, which were sent to Prime Minister Philip Davis KC and senior government officials, the BPSU outlined concerns that a number of staff currently working within the IT scale at DICT were not included in the advancement process, while others performing IT operational duties remain classified
under substantive posts from other departments.
“These unilateral decisions are a blatant disregard for public servants and their representatives,” the union said in correspondence dated January 16, 2026.
The union’s concerns pre-date this year’s demonstrations. In a letter dated July 22, 2025, addressed to the permanent secretary in the Ministry of Labour and the Public Service, the union submitted a proposed industrial agreement for the period July 1, 2025, to June 30, 2028, and requested dates to begin negotiations.
More than two months later, in follow-up correspondence dated October 2, 2025, the union said it had received no written acknowledgment or proposed dates to commence talks.
“Please provide a written response regarding when negotiations will commence,” the union wrote in the October 2, 2025, letter. The lack of response, Mr Ferguson said, mirrors what DICT staff describe as years of stalled reclassifications, supersessions and delayed promotions within the department.
He argued that while executive management was placed on the new ICT scale and received back pay, middle management and
International in Dignity Gardens.
Dr Romer, meanwhile, said the religious tourism department is now a standalone entity following an eight-year absence and will serve as an “economic driver”.
“Religious tourism, as you would imagine, ladies and gentlemen, serves as a significant economic driver, attracting visitors,” he said.
“And we saw over 12.5m visitors in our last calendar year. We intend to exceed that in this calendar year when these persons come and represent, in a tangible way, putting heads in beds in our hotel properties.
“You heard they're staying at the Baha Mar, Atlantis. Many other hotel properties would benefit because of the delegates coming into our shores. It's going to boost our local entrepreneurial market, providing opportunities again in transportation, in boating and airlift, in airports and restaurants,
line staff remain in limbo.
“This matter has been pending for far too long, and staff morale has now reached an all-time low,” said Mr Ferguson.
“Executive management has already been placed on the new ICT scale and received back pay, while middle management and line staff are still awaiting placement. That is simply not fair.”
Mr Ferguson said the union was particularly concerned that changes affecting terms and conditions of employment were introduced without consultation. “If there is going to be an adjustment of the terms and conditions of employment of employees, there has to be consultation with the union,” he said. “We are unaware of anything in that particular regard.”
Mr Ferguson added that the BPSU has formally written to Mr Davis requesting a meeting to address the concerns, and rectify what it describes as ongoing anomalies within the department.
Port Lucaya vendors bemoan ‘ghost town’
BY FAY SIMMONS
PORT Lucaya Marketplace vendors yesterday said optimism is in short supply suggestions that the Grand Lucayan’s $120m sale is set to close soon. Earnestine said financial pressures are mounting for many in the area as business activity remains sluggish. Speaking to Tribune Business, she said even basic overhead costs are becoming difficult to manage. “It’s a ghost town. It’s literally a ghost town,” she said.“My Business Licence is $330. I’m still struggling to pay that $330. So far, I’ve only been able to pay $160, and that was due from November. So can you imagine vendors who used to make $1,000 a week not being able to pay a small bill. Our rent in the marketplace is only $110 a month, and we’re struggling to pay that, too.”She said repeated announcements about the Grand Lucayan sale have left vendors disheartened, arguing that the economic progress described by officials is not reflected on the ground.“It’s incredibly slow. This is the worst I’ve seen it in years. It’s worse than when we had the pandemic, it’s worse than when
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we had the hurricane. The situation is awful, and that is no lie. So when you see politicians saying things are booming in Grand Bahama, it’s a lie - it’s a lie, it’s a lie, it’s a lie.“It’s disheartening to hear our ministers, who have been elected to represent us, stand up and treat us like we are fools here in Grand Bahama,” she added. “These talks they have to try and impress people because elections are coming - the hotel is sold, we’re working on the airport - but no, that was only a political ploy. It’s
SUPPLY - See Page B5
media and productions, creating jobs and ensuring, again, that the far-reaching tourism dollar is felt in the pockets of local Bahamians. And that is why this is so important for us.” In 2018, The Bahamas successfully hosted the entire PAW Bishop Board that comprised of more than 250 delegates from Europe, Africa, Canada, the Caribbean and the US, which resulted in this March’s return visit. Dr Romer said this year’s convention and Bishop Board will attract more than 800 delegates, marking it as the country’s first large-scale religious tourism event since the department’s resurrection.
Dr Romer said the ministry has been in discussions with Bishop Farrington “about using his influence and his organisation's influence, of taking brand Bahamas into Africa, into Europe, into Canada, into our key source markets, where we already
have, of course, friends through the religious tourism department and using this partnership right now to take brand Bahamas around the world”.
Dr Romer said religious tourism creates opportunities for cultural exchanges, resulting in understanding and respect between different faiths and cultures, He added that it also creates community engagement, and strengthens local communities through shared values and traditions.
“We are demonstrating to the entire world that this is not just a place where people come to visit, but this is a place where God actually lives,” Dr Romer added.
Transparency and credibility cloud Lucayan deal progress
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
GRAND Bahama International Airport must be rebuilt to a scale and design that is able to support the increased number of visitors a revived Grand Lucayan is likely to attract, a tour operator urged yesterday.
David Wallace, operator of Pirate’s Cove Zipline and Water Park, speaking after the deal between the Government and Concord Wilshire for the resort’s purchase was said to be still “on track”, added tha any development must be matched by the island’s major airport and aviation gateway.
“I think one of the most major components in that hotel structure, if it's going to be operated, run like a hotel, is an airport that has the capacity to bring the kind of numbers that is required that would put heads in beds in the hotel,” Mr Wallace said. “If it's being developed as a cruise ship beach experience, then I think that needs to be said by the developer and by the Government.
“And then it takes me back to what came first, the chicken or the egg, because while we do have an airport that's operational it is not at the standard that Freeport needs for its population and for the mass movement of people that will be required if the hotel remains at 1,000 or 1,400 or 1,500 rooms.
“What is it going to require to move the people through that airport in a comfortable manner? And so, at the end of the day, the priority I always thought that, after Nassau, the capital, Grand Bahama, the second city, would be the one that should have the next airport because the reality is the potential is here in Grand Bahama.”
Mr Wallace added that tourism’s impact is felt more from spending by stopover visitors than cruise passengers. “We all agree that the greater impact of the tourism dollar is felt when we have overnight visitors where they can eat in the restaurants,” he said.
“They can shop at the Port Lucaya Marketplace. They can do tours. They can rent cars. They can use taxis.
“Unlike the kind of tourist that predominantly comes via a cruise ship where, and I think you would see where, the study will tell you that the average cruise ship passenger probably spends $40 maybe $50 on the island whereas an overnight passenger will probably spend five times’ that amount.”
After it was reported that the deal for the Grand Lucayan had collapsed, the Government and Concord Wilshire reassured it remains alive. However, Grand Bahama businessman Robert Nabb said that with transparency and credibility an issue with the Government, he still finds difficulty in believing
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PORT LUCAYA MARKETPLACE
GRAND LUCAYAN
FLIGHT - See Page B7
Environmentalists: ‘Mother Nature’ will restore area
POLLUTE - from page B1
that the storage of a large quantity of oil during the hurricane season would likely have caused injury and damage due to strong winds and heavy rains. Further, that the defendant failed to employ adequate measures to secure the petroleum stored at its facilities to prevent its escape in the event of strong winds and heavy rainfalls.
“The claimant, alternatively, alleged that the petroleum constituted a nuisance that was caused and permitted by the defendant. That this negligence and nuisance resulted in loss and special damages totalling $24.244m general damages and interest.”
However, Equinor, which subsequently sold the South Riding Point terminal to its current owner, Liwathon Group, asserted in its defence that Cyril Minnis and Bahamian Frutee Delite have no interest in the
oil-damaged site because their “previous lease had expired and not been renewed”. It also described Dorian as having an “unpredictable path”.
“The storm was stationary over South Riding Point for approximately 15 hours,” Justice Forbes said of Equinor’s defence. “The damage in the wake of the storm was catastrophic, and significant quantities of petroleum were released from the storage tanks, resulting in the surrounding properties being inundated with petroleum.
“Further, considerable resources were required to remediate the damage. That the defendant puts the claimant to strict proof regarding its claim that it had legal rights to the property, as well as their claims of negligence. The defendant also asserts that the hurricane and its impact were an ‘act of God’.”
Justice Forbes, in his verdict, recorded that an initial
‘Interesting discussions’ ahead over development proposals
BALANCE - from page B1
somewhere remote. It’s where it’s tied to the hip of the community. It’s in the community, it’s around the community, and I think we have a couple of distinct socio-economic groups that have difficulties and are raising questions about how that rolls out, how that impacts livability as I know it?
“How does that drive costs in terms if our ability to live in the community, survive in the community and have homes? There’s a lot of room for discussion.
I expect there’ll be a discussion story.” Mr Jacobs previously said his current thinking includes developing four to five “lock and leave” neighbourhoods, which some have interpreted as a reference to gated communities; plus a small resort with several restaurants, a mega
yacht marina, small boutique casino and “affordable workforce housing”.
Mr Sands, though, said this and other potential investment and development projects merely reinforce the need for Eleuthera to have a strategic plan that links this growth to the island’s sustainable development through job and business creation, environmental preservation and ensuring utilities and other infrastructure can keep pace and support such expansion without becoming a barrier.
“There’s growing confidence in Eleuthera,” he reaffirmed. “It’s massively changed from just five to ten years ago. Eleuthera is definitely on the map, and there appears to be strong interest in Eleuthera from persons with the capital to execute.
“I have mentioned before the need to plan with
trial date was set down for September 17, 2025. Both sides were set to appear before the Supreme Court in advance on July 25, 2025, but proceedings were interrupted by the passing of Bahamian Frutee Delite’s lead attorney, the late Harvey Tynes KC. The trial date thus had to be moved.
Bahamian Frutee Delite then sought an “extension of time” from the Supreme Court on October 6, 2025, to file statements from three extra witnesses and other evidence while also applying for sanctions relief given that it had missed the deadline for this.
“The grounds of the application, in brief, are that the previous counsel passed away; that documentary evidence has become available; that counsel who has now assumed carriage of the matter began reviewing the file and will need to prepare and file a bundle of documents and further witness statements; and that it would
infrastructure, and plan based on data. I think we are really being pressed in Eleuthera to, as quickly as we can, to focus on a development plan for Eleuthera with the growth taking place now. We have to make sure we don’t destroy it, and that it’s a positive strategy that’s around for the long-termnot just for investors but the community and way of life, and that we don’t destroy the quality of life in Eleuthera.”
Mr Sands said balancing and securing the health, education and social needs of Eleuthera residents, alongside the profit-driven goals of investors, will be critical to the island’s future success.
“All these things have to be planned in context, and the reality is I don’t think we have a plan in place for Eleuthera,” he told Tribune Business.
“We are moving along haphazardly, and have to be careful that we don’t destroy what makes Eleuthera truly special. There’s room for discussion.” Mr Jacobs last week told this newspaper
be reasonable and just that the claimant be granted the relief sought,” Justice Forbes added.
However, on that same day, Equinor moved to have the claim struck out for failing to comply with the court’s Orders and “being frivolous, vexatious and an abuse of process”. Justice Forbes agreed that the failure by Bahamian Frutee Delite to file its evidence by the set deadline represented a “significant” breach.
“The court is sympathetic to the reason given by counsel,” he added in reference to Mr Tynes’ passing. “However, the court notes that there was an active second chair in the matter who ought to have been prepared for the trial and abreast of all trial matters. Therefore, the alleged reason for the breach is unmeritorious.”
However, Justice Forbes refused to strike the case out. “The court, in considering all the circumstances, finds that though the trial
that any project he undertakes will be a “win-win development” for central Eleuthera and involve the local community at every stage.
In a messaged response to this newspaper’s inquiries, he added that he has no intention of imposing his development vision on Eleuthera residents and will “listen carefully” to their views and concerns to ensure any investment is environmentally and financially sustainable.
Asserting that a “tourist-oriented development in central Eleuthera can serve as a rising tide to lift all boats”, he added that its scale and form were “decisions” for the local community and Bahamian government to make.
However, Tribune Business can reveal that his plans have already sparked alarm among many residents as well as environmental activists, who fear Mr Jacobs’ proposal - especially for a casino, regardless of its size - is simply too large for
date had to be vacated, there is a triable issue and a case, supported by evidence, to be tried by the court. The court does not think it is reasonable to strike out the case of the claimant,” he ruled.
The environmental impact from South Riding Point’s oil spill, and related clean-up, attracted significant attention in Dorian’s aftermath. Environmental activists even demanded that the terminal’s sale to Liwathon not be approved until Equinor gave a commitment to providing the necessary financing and clean-up resources to remediate what was estimated to be a 55,000 barrel, or 2.3 million gallon, spill.
Joe Darville, the Save the Bays and Waterkeepers Bahamas chief, yesterday told Tribune Business of the area’s current condition:
“I think they have taken a decision just to leave it as it is without doing further excavation. They had this huge amount of aggregate there, which belonged to
the Governor’s Harbour area while also being out of “tone” with the community’s history and character.
They are also concerned that Eleuthera’s infrastructure, especially its already-challenged electricity and water utilities, will simply be unable to cope with the additional demands exerted by such a development, while its scale will also exert undue pressure on the environment and require potentially hundreds of workers to be imported from Nassau and/or overseas because the island’s own workforce is unable to meet the labour requirements.
Eric Carey, the ex-Bahamas National Trust (BNT) executive director, argued that it is employing a development model that has “never worked in the Family Islands” - a largescale, resort-centred project that fits with the so-called ‘anchor property’ strategy embraced by the Ingraham and Christie administrations.
“The Government likes to embrace these large
the former prime minister’s brother - Dr Minnis’s brother. That was his company. His was the only company dealing with that operation.
“They did a kind of clean-up on the face of the aggregate facing the road, but left the northern side untouched. The oil was stuck there two inches thick trickling down that aggregate pile. They left it literally a mess. I don’t understand why, as far as I know, there was no compensation given to the country for the damage done to that whole environment. For a whole two-and-a-half years you couldn’t find a bird in that area because of the stench coming from the oil spill.
“It’s still rather a messy situation out there. At this particular point in time, I think they’re going to let it be and let Mother Nature do her best to restore it. It will be restored. think eventually Mother Nature will take care of it.”
developments notwithstanding the fact there are very few examples which show they have been successful in really benefiting local communities in ownership and empowerment,” Mr Carey told Tribune Business. “The examples we have across our country are quite the opposite. The developer wins, most of the money leaves the country in large real estate sales.
“Our government, across administrations including this one, they have a tendency to go for large developments. You hear Chester Cooper, the minister responsible for investments, talking about the billions and billions of dollars of investment.
“These large projects add to the appetite of the Government, which is for larger and larger developments for what they feel may be a huge economic impact. I’m not surprised the Government feels that way [but] we’ve seen this play out before. It never works in the Family Islands.”
New Bahamian product is set for Brazil trade mission launch
PRODUCT - from page B1
Bahamian institutions. We hope that this is another tool in the toolbox for our financial services to be competitive and attractive to our clientele.
“We anticipate new structures to be formed in The Bahamas utilising this new option. We look to have a trade mission to Brazil next month to launch the product. The Bahamas has developed a reputation of being nimble and strategic in its planning and product development. We have married civil law concepts with common legal systems successfully in the past inclusive of the Foundation, the Investment Condominium (ICON) and now the usufruct.”
Changes in Brazilian tax law have reduced the ICON’s attraction for clients from that nation, and the usufruct’s arrival may help to retain or regain
some of that business which The Bahamas previously possessed. The Bill tabled in the House of Assembly provides that a usufruct can be created via a trust or will, or some other agreement, and permits persons to use, derive or have control over property that they do not own.
The structure can apply to both physical and intangible assets, including fixed or movable properties such as a vehicle; debt; “a defined part of a building”; intellectual property rights; accounts receivables and contractual rights; and insurance policies and securities. It can also cover “an entire estate”, but - while a person has the legal right to use and enjoy usufruct property - they must also preserve and not destroy it. All Bahamas-domiciled usufructs must be registered with the Registrar of Companies.
The Bill also sets out the respective rights and duties
Vendors: Gov’t promise not matching economic reality
SUPPLY - from page B3
totally disheartening. It’s bad. It’s awful. This government is awful.”Earnestine said her optimism began to fade when the Davis administration rejected an earlier offer from Royal Caribbean to redevelop the Grand Lucayan, while allowing the cruise line to move ahead with its Royal Beach Club development on Paradise Island and facilitating reported interest in acquiring and redeveloping
property at Xanadu Beach in Grand Bahama.“I was more optimistic before the government changed, when we knew we had a signed deal with Royal Caribbean,” she said. “You have set us behind on Grand Bahama. You set us behind; you didn’t set us ahead. You didn’t do anything for us. I’ll be more optimistic when the Government changes hands.”Ernestine also criticised the Government for signing agreements that she believes do not
NOTICE
NOTICE is hereby given that PETER FLUERIMON of Carmichael Road, Firetrail Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that GODWIN AKPADIAHA EDOHO of #2 Springfield Way, P.O. Box EE-15128, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that SHIRLEY MIZOU FELIX of #39 Farrington Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that GUERMO EMILE of Midshipmen Outlaw Lane, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
of the respective asset owner and usufructory. “This Bill seeks to establish a progressive and commercially attractive legal framework for usufructs, a term rooted in civil law jurisdictions and refers to the right to use and enjoy the benefits of someone else’s property without owning it,” the Bill tabled in the House of Assembly asserts.
“Usufructs are not explicitly codified in Bahamian law, but are similar to common law concepts existing under property and trust law, particularly in life interests, trusts and leaseholds…. The enactment of legislation to allow for the creation of usufructs in The Bahamas will provide a boost to the financial services sector by creating a need for the registration of usufructs and the management of the assets of usufructs.”
Mr Pinder previously said that the usufruct is one of several new product-led Bills that the Government
prioritise Grand Bahamians or generate meaningful economic spillover for local businesses.She argued that major tourism deals may appear promising on paper, but too few of the benefits reach small operators in Freeport and surrounding areas. She maintained that developments tied to cruise lines and private destinations are structured in ways that limit opportunities for marketplace vendors and other small businesses to directly participate or profit.“Point and case: Celebration Key is a wonderful plan, but it doesn’t help us on Grand Bahama,” she said “The tourists visiting
aims to pass within the next several months ahead of the upcoming 2026 general election. These aim to place civil law products, typically found in jurisdictions such as Europe and Latin America, on a common law footing under Bahamian statute, while also meeting client demands for tools that can exploit blockchain advances and are geared to private equity.
“We are finalising a new piece of legislation to continue The Bahamas’ innovative linkage between civil law practices and common law,” Mr Pinder said.”We have drafted a Usufruct Interest Bill, which seeks to establish a legal framework for usufructs, a term rooted in civil law jurisdictions and refers to the right to use and enjoy the benefits of someone else’s property without owning it.
“Usufructs are not currently codified in Bahamian law but are similar to
common law concepts existing under property and trust law, particularly in life interests, trusts and leaseholds. A Usufruct will be permitted in law in The Bahamas over any Bahamian legal entity. It is anticipated that your civil law clients, whether from Europe or Latin America, will embrace this innovation. The Bill is being finalised, and we look to pass it next month.”
As for other product developments, Mr Pinder said Bills and rules to create Decentralised Autonomous Organisations (DAOs) to take advantage of blockchain, as well as a new type of SMART fund geared towards private equity investments, will also come to fruition shortly.
“We are working closely with the Securities Commission to develop a new set of SmartFund rules to create a fund specifically to address valuation and accounting rules applicable to private equity,” he added.
Celebration Key do not venture out in large numbers because they’re under the impression they’re on a key and there’s nothing else to see. If they bring in 4,000 people, maybe 100 venture out and that’s a big maybe. So what else is there?”In a statement, Concord Wilshire said it continues to work “collaboratively and constructively” with the Government toward the redevelopment of the Grand Lucayan property. The developer said discussions remain active and aligned with the shared objective of revitalising the resort for the benefit of Grand Bahama and the wider Bahamian economy.“We want to be very clear: The redevelopment of the Grand Lucayan resort is moving forward,” said Richard Bosworth, chief executive of Lucayan Resort for Concord Wilshire Group. “Reports suggesting otherwise are inaccurate and misleading. Concord Wilshire remains fully committed to this project and to our partnership with the Government of The Bahamas.”The company said it expects within the next two weeks to announce the formal start of development and construction activities, including two major cruise line destination resorts
NOTICE
NOTICE is hereby given that PETERSON LAMOUR of Carmichael Road Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that MARIA GODWIN EDOHO of #2 Springfield Way, P.O. Box EE-15128, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that DESMAR ALLENA OLAF YOKI WHITFIELD of High Point Mannors West, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that FERDILUS PETIT-FRERE of Bacardi Road, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
“Many of your clients participate in private equity investments but are looking for a vehicle that is responsive to the particularities of private equity. We anticipate the private equity SMART fund to be in place by the end of February.
“One area that has evolved, and we think the time is right to develop regulation and structure, is with Decentralised Autonomous Organisations or a DAO, a blockchain-based, community-owned entity with no central leadership, governed by code and member votes through smart contracts,” Mr Pinder continued.
“Through work with the Securities Commission of The Bahamas we will authorise proposed structures and corresponding scope of regulation for DAOs. We hope to release a draft Bill next month and pass it by the end of March.”
and the start date for site demolition and preparatory works.“Our team has continued to advance planning, design co-ordination, capital structuring and development scheduling,” Mr Bosworth added. “We are entering the execution phase and look forward to making a comprehensive announcement shortly that will outline the construction timeline and project milestones.”Concord Wilshire described the redevelopment as a transformational investment for Grand Bahama, citing projected job creation, increased tourism activity and long-term economic impact.
NOTICE
NOTICE is hereby given that LEEYA SHANIQUE DESIR of Johnson Road, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that GUILLAUX CLACEMA of #34 Winton Estate, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that JEAN CARNOLD DAUTRUCHE of Tropical Gardens, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that CONSTANTIN MITIAL of P.O. Box N-7060, Lewis Street, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
GB airport scale must match Lucayan upgrade
FLIGHT - from page B3
information released regarding the Grand Lucayan.
“For many businesspeople it is difficult to believe what is being said about the sale of the hotel and redevelopment of the airport because we have been told so many different things over the years,” he said.
“The biggest problem the Government has is credibility and transparency. All we get is vague statements about ongoing discussions and no concrete dates or details.
“It is difficult for a business owner to plan under these circumstances. Grand Bahamians have seen grand plans and ribbon cuttings for years with nothing to
‘Bahamians must share more fairly in cruise industry value’
VISITORS - from page B1
viable, the broader economy becomes stronger and more resilient.
“When local enterprises become economically viable, the local economy becomes stronger. And when the local economy is stronger, the destination becomes more resilient and more attractive for repeat business,” he explained.
Mr Cooper said future cruise tourism growth must also be guided by research, calling for clearer data to help shape new attractions and experiences that invigorate the product.
He stressed the importance of understanding visitor behaviour, spending patterns and market demand in order to direct investment where it will generate the strongest returns for Bahamians.
“We must provide clarity - grounded in research - on how we can encourage and direct tourism enterprises to create attractions and adventure that invigorate the experience,” said Mr Cooper.
He also revealed he has encouraged cruise executives to partner with the
Government on a comprehensive economic impact study that would be made public, noting that clearer data would help inform policy decisions and strengthen accountability.
While calling for deeper collaboration from cruise partners, Mr Cooper stressed that the Davis administration is also investing heavily to improve the visitor experience. He pointed to ongoing efforts to revitalise tourism districts, upgrade infrastructure and enhance the look and functionality of downtown Nassau.
He said work is under way to improve restroom facilities in key tourism zones, address waste management and flooding challenges, redevelop vacant properties through public-private partnerships (PPPs), and increase tourism police presence to enhance safety and comfort. “These are not abstract commitments. They are tangible investments,” said Mr Cooper. “We are committed to responsibly using government resources to make the changes and improvements necessary to sustain and elevate our tourism product.”
New York.
US stocks rise after getting a reminder of AI’s potential upsides
By STAN CHOE AP Business Writer
U.S. stocks rose Tuesday after getting a reminder that the artificial-intelligence boom may also have an upside.
The S&P 500 climbed 0.8% and recovered nearly three-quarters of its sharp drop from the day before.
The Dow Jones Industrial Average added 370 points, or 0.8%, and the Nasdaq composite gained 1%.
Advanced Micro Devices helped lead the market and rallied 8.8% after announcing a multiyear deal where it will supply chips to Meta Platforms to help power its AI ambitions. Under the agreement, Meta also got the right to buy up to 160 million shares of AMD stock for 1 cent each, depending in part on how many chips Meta ultimately buys.
It's a reminder of the excitement that built in recent years about the billions of dollars pouring into AI, which could remake the world and create a more productive economy.
It also helped produce a sharp turnaround from the prior day, when worries about the potential downsides of AI shook Wall Street, particularly companies and industries that investors fear could be made obsolete. Industries as far flung as software, trucking logistics and financial services have recently seen investors suddenly and
show for it. That is why there is so much scepticism about the current deal.”
Mr Wallace added: “We have heard so much about the hotel, it reminds me of the story of the boy who cried wolf. When the wolf actually came and the cry was made, no one believed it. We’re not interested in in the game playing where you come, you make this grand
aggressively punish them for potentially being under threat.
IBM rose 2.7% to recover some of its 13.1% drop from Monday, which was its worst since 2000. The pain has also filtered out to the private-equity industry, with fears building that loans it made to software companies dependent on recurring revenue may have less of a chance of getting repaid. Blue Owl Capital rose 2.8% to trim its loss for the young year so far to 28.2%.
On Tuesday, Anthropic unveiled new tools for businesses to use with its Claude AI assistant. They covered everything from human-resources work to engineering to investment banking.
The event suggested that fears about AI supplanting existing software, rather than merely making it easier to use, may be overblown, according to Dan Ives, an analyst at Wedbush. "While these use cases are impressive, the reality is that these new AI tools will not rip and replace existing software ecosystems and data environments with these AI tools only as useful as the data it can reach."
One of the tools allows users to bring data on financial markets from FactSet into Claude. FactSet Research Systems' stock jumped 5.9% for one of the biggest gains in the S&P 500, though it's still down 30.6% for the year so far.
announcement, you bring all these people.
“You have machinery to knock a hole in the wall, as if you’re demolishing the building. And then you come back the next day and you meet the mason covering back up the hole. I mean, this is the livelihood of hundreds of persons who are in the hotel industry, who have been depending
Appeal court: ‘No merit’ in union’s overturn argument
RULING - from page B1
action where they either refused to report to work or walked off the job; inciting, intimidating or obstructing other Bahamasair staff; and mandating that they return to work as scheduled unless genuinely sick. The latter required production of a valid sick certificate.
“It is a fairly comprehensive order for restraining the appellant, its members and its officers from taking any further industrial action in this matter,” appeal justice Smith said. “The union has appealed the decision of Justice Ellis. This morning, they relied on three grounds of appeal. The first is that there was no jurisdiction in the court to injunct the members of the union.”
However, he and his fellow Court of Appeal judges found that there was “no merit” in the argument that the injunction is invalid, and does not apply, to union members. They noted that the Industrial Relations Act specifically provides for injunctions to be enforceable against individual union members.
“A reverse burden of proof is placed on a member or an officer of the union if he takes any part in action in contemplation or in furtherance of a trade dispute,” appeal justice Smith said. “We are of the opinion that it was not necessary to name each member of the trade union for them to be affected by the injunction,
and as such, we dismiss this submission.”
As for the union’s arguments that no evidence of a strike having been called, the Court of Appeal said the Industrial Relations Act stipulates that an employer only has to show “reasonable grounds for apprehending a contravention of the Act”.
Bahamasair, in its evidence, had asserted: “On December 17, 2024, the [union] met with its members and on December 18, 2024, the [union], its officers, and/or members engaged in industrial action against the claimant in that a significant number of the [union’s] members called in sick and did not show up to work for their scheduled shifts….
“Out of the approximately 120 employees who were scheduled to work on December 18, 2024, approximately 80 called in sick. To provide some perspective, on average only about 10 employees call in sick per day. In particular, almost all of the flight attendants and fight dispatchers called in sick.”
The Court of Appeal added: “That was the evidence of reasonable apprehension of action that was prohibited by the Act. In these circumstances, we find no merit in the submission that there was no evidence of any industrial action, like a strike, which could have been injuncted by the court.” It also found that Justice Ellis had provided sufficient reasons to
on the success. And I want it to succeed. I don’t care who the Government of the day is.
“We just would like for it to be running and operating where it is being run like a hotel with good occupancy, where people could be working four and five days a week. I think that’s the most critical thing for those persons who have been there, who have been working at the hotel and living the hope. And many of them would have turned down or not sought other [job] alternatives when Carnival Cruise Port would have been opening their doors because they believed in the Government’s words that this hotel was going to be redeveloped and reopened.”
support his decision and thus dismissed the union’s appeal.
Only four out of 24 daily Bahamasair flights were able to get airborne on December 18, 2024, after flight attendants and ground staff staged a sickout and failed to appear for work.
Tracy Cooper, the national flag carrier’s managing director, branded the industrial action “illegal” and urged those involved to return to work given the impact on passengers and the potentially devastating effect for the airline’s already-frail finances.
Bahamasair contacts, speaking on condition of anonymity, told Tribune Business that the carrier’s international flights had largely been fully booked with some “saturated” with tourists either entering the destination or returning home for the Christmas holidays. But no international flight was able to take-off as a result of the sick-out, with all of the afternoon’s routes cancelled.
The disruption was especially problematic for both visitors and Bahamians seeking to link to US and Family Island destinations through Nassau because Bahamasair provides
many of these connecting flights. As a result, tourists returning home may have been forced to spend an extra night(s) in the Family Islands or layover in Nassau, creating further cost and inconvenience.
Mr Cooper, Bahamasair’s managing director, said the sickout - which caught airline officials by surprise - resulted from ongoing concerns about outstanding pay and delays in finalising a new labour contract. “It’s about monies; whatever monies are being paid to them,” the source added.
“I understand the airline was paying the monies owed to them in in installments, but I’m not sure if payment happened this month so they could spend it on Christmas presents and everything. The union is taking a radical approach where, if they don’t get everything they want, they are going to walk off the job.”
Tribune Business understands that the December 18, 2024, international flight shutdown meant 48-49 pieces of luggage, which were left at Miami International Airport, could not be transported to Nassau. Among them were meats and other perishable goods.
SNOW falls outside the New York Stock Exchange, Monday, Feb. 23, 2026, in
Photo:Seth Wenig/AP
Warner Bros gets a higher offer from Paramount in heated fight for the storied Hollywood studio
By WYATTE GRANTHAM-PHILIPS
AP Business Writer
WARNER Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, potentially setting the stage for a fresh bidding war with Netflix over the future of the Hollywood giant.
Paramount’s offer had previously stood at $30 per share since December — when the Skydance owned company launched its hostile bid to challenge a deal Warner struck with Netflix to sell its studio and streaming business for $27.75 per share.
A Warner Bros. Discovery buyout would reshape Hollywood and the wider media landscape — bringing HBO Max, cult-favorite titles like “Harry Potter” and, depending on who wins the Netflix v. Paramount tug-ofwar, potentially even CNN under a new roof.
Unlike Netflix, Paramount wants to acquire Warner Bros. in its entirety
— including networks like CNN and Discovery. The companies have spent the last couple of months in a heated, public back and forth over who has a stronger deal. And Paramount upping its offer only adds to the pressure. Beyond the new $31 per share price, Warner said Tuesday afternoon that Paramount had increased its regulatory termination fee to $7 billion. Paramount also agreed to move up a previously-promised “ticking fee.” The company previously said it would pay 25 cents per share for every quarter the deal drags on past the end of the year. Now it’s agreed to pay that amount if the deal doesn’t go through by the end of September, Warner said.
Warner added that Paramount’s latest bid “could reasonably be expected to lead to” a superior offer as defined under its current agreement with Netflix — but the company’s board has still not actually determined
Ukrainian envoy says US raised concerns about strikes aimed at Russia that impacted US oil interests
By AAMER MADHANI and EDITH M. LEDERER
Associated Press
THE U.S. State Department has expressed its displeasure about Ukraine’s recent attacks on the Russian port of Novorossiysk on the Black Sea that have impacted U.S. oil interests in Kazakhstan, Kyiv’s chief envoy to Washington said on Tuesday.
Ambassador Olga Stefanishyna noted the U.S. concern on the fourth anniversary of Russia’s brutal invasion of Ukraine.
“This reach-out was not related to encouraging Ukraine from refraining to attack Russian military and energy infrastructure. It was related to the very fact that American economic interest was affected there,” Stefanishyna told reporters in Washington. “It did happen, and we have taken the note.”
The State Department did not immediately respond to a request for comment.
The Caspian Pipeline Consortium operates a pipeline from the Caspian coast in northwest Kazakhstan to the Novorossiysk port. The pipeline handles much of the crude exports from three major Kazakh fields in which major U.S. energy companies, Chevron and ExxonMobil, have stakes.
The G7 group of leading industrialized nations issued a leaders’ statement on Tuesday to mark the fourth anniversary of the war reaffirming their “unwavering support for Ukraine in defending its territorial integrity and right to exist, and its freedom, sovereignty and independence.”
The statement also praised President Donald Trump ‘s efforts to negotiate a peace settlement between Russia and Ukraine.
The U.N. General Assembly also passed a resolution on Tuesday voicing support for Ukraine, but the U.S. was one of 51 countries that abstained. The U.S. had tried unsuccessfully to eliminate references to Ukraine’s sovereignty and territorial integrity from that resolution. U.S. deputy ambassador Tammy Bruce said the Trump administration supports an immediate ceasefire but language on Ukraine’s sovereignty and territorial integrity would “distract” from peace negotiations with Russia.
During the U.S.-brokered talks, Russian President Vladimir Putin has maintained maximalist demands, insisting Kyiv pull its forces from four Ukrainian regions that Moscow illegally annexed but never fully captured. Trump has argued it’s inevitable that Russia will win control of the Ukrainian territory and has pressured President Volodymyr Zelenskyy to make a deal to save lives.
Zelenskyy said his country has withstood the onslaught by Russia’s bigger and better equipped army, which over the past year of fighting captured just 0.79% of Ukraine’s territory, according to the Institute for the Study of War, a Washington-based think tank. Russia now holds nearly 20% of Ukraine.
Trump later on Tuesday will deliver the annual State of the Union address. Stefanishyna said she expects that Trump, who has made ending the war a priority, will touch on the conflict in the address, even though she did not expect major changes in his message.
“But at the same time, we want President Trump to hear us ahead of the speech that, you know, despite all the complexity and tragedy of what is happening in Ukraine, still Ukrainian people very much rely on his leadership,” she said.
whether Paramount’s offer is better than Netflix’s.
A Netflix spokesperson declined to comment when reached by The Associated Press Tuesday afternoon. Paramount did not immediately respond to a request for further comment — but the company confirmed the submission of its revised offer earlier in the day.
Warner’s board has repeatedly backed its deal with Netflix, and on Tuesday maintained that their agreement still stands. But if it later deems Paramount’s offer to be the better deal, Netflix would then have four days to match or revise its proposal. It could also choose to walk away.
Lawmakers and entertainment trade groups have sounded the alarm about the prospect of both deals — warning that a buyout of all or parts of Warner’s business would only further consolidate power in an industry already run by just a few major players. Critics say that could result in job losses, less diversity in
filmmaking and potentially more headaches for consumers who are facing rising costs of streaming subscriptions as is.
Combined, that raises tremendous antitrust concerns — and a Warner sale could come down to who gets the regulatory green light. The U.S. Department of Justice has already initiated reviews, and other countries are expected to do so.
Both Paramount and Netflix have argued that their proposals are good for consumers and the wider industry. And the companies have taken aim at each other publicly with regulatory arguments.
Paramount has pointed to Netflix’s much larger market value. And it’s argued that if the streaming giant acquires Warner, it would only give it more dominance in the subscription video on demand space. But Netflix is trying to convince regulators that it’s up against broader video libraries, particularly Google’s YouTube. Netflix has also said that since it doesn’t
currently have the same studios and film distribution that Warner does, it would preserve and grow those operations — whereas a Warner-Paramount merger would combine two of Hollywood’s last five major studios, as well as theatrical channels and news networks. Politics could also come into play. President Donald Trump previously made unprecedented suggestions about his involvement in seeing a deal through, before walking back those statements and maintaining that regulatory approval will be up to the Justice Department.
Trump has a close relationship with the billionaire Oracle founder Larry Ellison (the father of Paramount Skydance CEO David Ellison) who is heavily backing Paramount’s bid to buy Warner. And the push to acquire Warner arrives just months after Skydance closed its own buyout of Paramount — in a contentious merger approved just weeks
after the company agreed to pay the president $16 million to settle a lawsuit over editing at Paramount’s “60 Minutes” program on CBS. Under new ownership, CBS has seen significant editorial shifts, notably with the installation of Free Press founder Bari Weiss as editor-in-chief of CBS News. Critics say similar changes could happen at Warner’s CNN if Paramount’s bid is successful.
But Trump has continued to publicly lash out at Paramount over editorial decisions at CBS’ “60 Minutes.” The president also previously met with Netflix co-CEO Ted Sarandos, who he called a “fantastic man.” Still, he’s taken aim at Netflix in other ways — including demanding that the company fire former U.N. ambassador Susan Rice, who held top roles under both the Biden and Obama administrations, from Netflix’s board in a social media post over the weekend.
Louvre Museum director resigns in the wake of October’s brazen French crown jewels heist
By THOMAS ADAMSON and JOHN LEICESTER Associated Press
THE Louvre Museum’s director resigned Tuesday after months of pressure following the October theft of the French crown jewels, as the world’s most visited museum faced widening scrutiny over security failures, labor unrest and a suspected ticket fraud scheme.
Laurence des Cars quit after a punishing year for the former royal palace — the high-profile jewels heist from the Apollo Gallery, a mid-February burst pipe near the “Mona Lisa,” water leaks damaging priceless books, staff walkouts and a wildcat strike over overcrowding and understaffing.
The landmark has faced a narrative of an institution spiraling out of control.
And that pressure deepened in recent weeks when French authorities revealed a suspected decadelong ticket fraud operation linked to the museum that investigators say may have cost the Louvre 10 million euros ($11.8 million).
President Emmanuel Macron accepted des Cars’ resignation as “an act of responsibility” at a moment when the Louvre needs “calm” and new momentum for security upgrades, modernization and other major projects, according to a statement from his office.
Macron wants to give des Cars a new mission during France’s presidency of the Group of Seven leading industrialized nations, focused on cooperation among major museums, the statement said.
For many in France’s cultural world, the resignation answers months of head-scratching over why no top official had fallen after the heist: a daylight robbery that many in the country saw as the most humiliating breach of French heritage security in living memory. It also came as lawmakers and cultural officials
Supreme Court rules the Postal Service can’t be sued, even when mail is intentionally not delivered
By MARK SHERMAN Associated Press
A DIVIDED Supreme Court on Tuesday ruled that Americans can’t sue the U.S. Postal Service, even when employees deliberately refuse to deliver mail. By a 5-4 vote, the justices ruled against a Texas landlord, Lebene Konan, who alleges her mail was intentionally withheld for two years. Konan, who is Black, claims racial prejudice played a role in postal employees’ actions. Justice Clarence Thomas, writing for a majority of five conservative justices, said the federal law that generally shields the Postal Service from lawsuits over missing, lost and undelivered mail includes “the intentional nondelivery of mail.” In dissent, Justice Sonia Sotomayor wrote that while the protection against lawsuits is broad, it does not extend to situations when the decision not to deliver mail “was driven by malicious reasons.” Justice Neil Gorsuch joined his three liberal colleagues in dissent.
widened scrutiny of the museum’s leadership and security practices in the months since the breach.
Brazen theft
Thieves took less than eight minutes in October to steal crown jewels valued at 88 million euros ($102 million) from the Louvre, in a weekend operation that stunned visitors, exposed glaring vulnerabilities and left one of France’s most symbolically charged collections in criminal hands. Several suspects were later arrested, but the stolen pieces remain missing.
Des Cars, one of the most prominent museum directors in Europe, had offered to resign on the day of the robbery, but it was initially refused by the culture minister.
In remarks after the theft, she described the moment as a “tragic, brutal, violent reality” for the Louvre and said that, as the person in charge, it had felt right to offer her resignation.
Lightning rod
In an interview published on Tuesday by daily newspaper Le Figaro, des Cars said that she had tried to steer the Louvre through the fallout from the heist, but had concluded that she could no longer carry
President Donald Trump’s Republican administration had warned that a ruling for Konan would have led to a flood of similar lawsuits against the cashstrapped Postal Service. Konan, who’s also a real estate agent and an insurance agent, claims two employees at a post office in Euless, Texas, part of the Dallas-Fort Worth metroplex, deliberately didn’t deliver mail belonging to her and her tenants because, she alleges, they didn’t like that she is Black and owns multiple properties.
According to court documents, the dispute began
out the museum’s transformation in the current institutional climate.
Staying on, she said, would have meant managing the status quo when the museum still needs deep reform.
“I was there to take the lightning” as museum director, she said. Des Cars also said that the October break-in exposed problems that she had been warning about since taking office, including aging infrastructure, obsolete technical systems and severe congestion.
She had led the Louvre since 2021, taking over one of the museum world’s most prestigious jobs as the institution emerged from the coronavirus pandemic and mass tourism returned.
Multifaceted crisis
In June, a wildcat strike by front-of-house staff and security workers forced the Louvre to halt operations, stranding thousands of visitors outside the glass pyramid and underscoring the depth of anger among employees over overcrowding, understaffing and what unions called untenable working conditions.
Workers said that the pressure of daily visitor flows — particularly around the “Mona Lisa” — had
when Konan discovered the mailbox key for one of her rental properties had been changed without her knowledge, preventing her from collecting and distributing tenants’ mail from the box. When she contacted the local post office, she was told she wouldn’t receive a new key or regular delivery until she proved she owned the property. She did so, the documents say, but the mail problems continued, despite the USPS inspector general instructing the mail to be delivered.
Konan alleges the employees marked some of the mail as undeliverable or return to sender. Konan
become unmanageable and that promised reforms were arriving too slowly. There were growing complaints that the infrastructure and staffing of the crumbling medieval structure haven’t kept pace with the crowds pouring through its galleries.
The resignation came at an especially punishing moment, less than two weeks after French authorities revealed the separate ticket fraud scheme. That case widened scrutiny beyond the jewels robbery and toward the museum’s day-to-day controls.
Fraud scheme
Prosecutors say tour guides are suspected of — up to 20 times a day — reusing the same tickets to bring in different visitor groups, at times allegedly with the help of Louvre employees, in a system investigators believe operated for a decade.
In a rare interview just days ago with The Associated Press after the fraud case was made public, the Louvre’s No. 2, general administrator Kim Pham, said that fraud at an institution the size of the Louvre was “statistically inevitable.”
and her tenants failed to receive important mail such as bills, medications and car titles, according to the lawsuit. Konan also claims she lost rental income because some tenants moved out due to the situation.
After filing dozens of complaints with postal officials, Konan finally filed a lawsuit under the 1946 Federal Tort Claims Act, which allows some lawsuits against the government. The case focused on the reach of the special postal exemption to the law.
PEOPLE queue outside the Louvre museum, in Paris, France, Friday, Feb. 13, 2026.
