business@tribunemedia.net
Wednesday, March 11, 2026
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‘The clincher’: $3.5m wall maker to ‘double’ capacity next month BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN developer and contractor is next month planning to “double” production capacity at its $3.5m pre-cast walls manufacturing plant one year earlier than planned as it bids to deliver significant time and cost savings for the whole construction industry. Robert Myers, the Windsor Lakes principal and head of Capstone Construction, yesterday told Tribune Business that the expansion will lead to further hirings beyond the plant’s existing 15-strong workforce with orders “booked through” August and September for projects in highend communities such as Lyford Cay, Albany and Baker’s Bay. Touting the energy efficiency and installation benefits of the readymade concrete panel walls, he added that their 5,000 PSI (pounds per square inch) specifications provide “very high strength” to withstand hurricanes while water is unable to penetrate. And Mr Myers told this newspaper that “the real clincher” for Bahamian contractors and the construction industry is that his plant can manufacture walls off-site “in parallel” to building a property’s foundation. Rather than wait for the foundation to be completed before starting to go vertical with the walls, he explained
Pre-cast plant’s expansion year ahead of expectation Owner says orders ‘booked through’ to August/September Says off-site manufacturing saves ‘significant’ time, money that his plant’s pre-cast walls can be installed immediately this is done and in just one day. This, Mr Myers said, will especially cut construction time and costs for Family Island projects and their developers. Rather than having to wait for a building’s foundation to be completed, and then face accommodation, food, transportation and other expenses associated with bringing in a team to construct the walls, he added that his pre-cast products can be shipped in and installed the same day to thus eliminate all these costs for both contractor and project owner. The Windsor Lakes and Capstone chief predicted that, depending on Bahamian construction industry demand, the plant’s size and capacity could “double again” beyond
Freeport businesses demand ‘more clarity’ on city’s future BY FAY SIMMONS and NEIL HARTNELL Tribune Business Reporters GRAND Bahama Port Authority (GBPA) licencees yesterday demanded “more clarity” over Freeport’s future direction and governance amid concerns from some that both the Government and city’s quasi-governmental authority could be digging in for a prolonged battle. Several private sector executives said the Government’s Monday town hall meeting on the GBPA arbitration ruling did little to clarify the island’s future, with one former Chamber president arguing the decision was already “very clear” while the his successor warned that the business community is still “up in the air”. Ralph Hepburn, president of the Grand Bahama Chamber of Commerce, said reactions among members to the meeting have been mixed, but he personally left the event without a clearer understanding of how the dispute between the Government and the GBPA will ultimately affect the latter’s 3,500 business licensees and Freeport residents. “For me personally, I think Mr [Gregory] Moss, in his presentation to those in attendance, tried to walk the line of just covering the legal aspects,” said Mr Hepburn. “I think his presentation was well done in terms of explaining the claims, the counter-claims, the rulings and the effect of the arbitration.” However, he suggested many in attendance were looking for something different as the Town Hall felt more like a “political rally” than a forum that clarified how the dispute will affect the island’s businesses and economic future. “I don’t think the crowd came out to hear about clearing up the arbitration. They came out to what seemed like a political rally,” Mr Hepburn said. He added that while the Prime Minister outlined the Government’s position, the matter itself remains unresolved. “From my understanding of what he said, it has not been completed. Deadlines were given for the parties to get back to the arbitration committee on what resolutions they are coming to, and that process has not started or they haven’t had the chance to
MEETING - See Page B4
D’Aguilar: ‘We’ve pulled the trigger’ on $4m expansion Laundromat chain likely to ‘eat’ conflict cost increases Nassau more impacted than Out Islands if tourism hit BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SUPERWASH’S president yesterday asserted “there’s no way to stop that juggernaut” of his $4m East Street South expansion despite the “massive shock” caused by the likely imminent economic fall-out from the US-Israel conflict with Iran. Dionisio D’Aguilar, also a former minister of tourism and aviation, told Tribune Business that - while the laundromat chain had already “pulled the trigger” on constructing its new location - the anticipated energy, transportation, construction material and goods price increases will likely cause other developers, investors and businesses to hold-off from making their own job-creating investments.
ROBERT MYERS
PRODUCE - See Page B5
Bahamas must ‘position’ to get Dubai millionaire exodus THE Bahamas must “position ourselves” to exploit the potential mass exodus of millionaires and billionaires from Dubai, Abu Dhabi and other Middle East destinations that have become embroiled in the conflict between the US, Israel and Iran, a local businessman argued yesterday.
Bahamas faces 30-50 cent per gallon fuel hike in 1-3 weeks Robert Myers, a former Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chairman, told Tribune Business that - while the war has
created “undoubted” risks for this country’s economy through higher oil prices likely translating into increased fuel, energy and product costs - it has also opened up “potential rewards” it can take advantage of. He pointed, in particular, to the likely departure of numerous high net worth expatriates and their families from the Gulf states after these were targeted by Iran with ballistic missile and drone strikes in retaliation for US and Israel’s attacks. They are now likely realising that the Middle East, and states such as Saudi Arabia and the United Arab Emirates (UAE), are not as safe as they first perceived.
Minister asserts cannabis licensing platform ready BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net A CABINET minister yesterday asserted the Government has completed the long-awaited digital platform needed to regulate The Bahamas’ hoped-for medical marijuana industry, thereby clearing the way for the licensing process to begin. Dr Michael Darville, minister of health and wellness, told Parliament that the technology ond online registration portal that will track applications, plus cannabis production and distribution across The Bahamas, is now ready. “The digital platform, known as BioTrack, which monitors the industry from seed to sale, is now completed,” said Dr Darville. He explained that the system is designed to monitor every stage of the medical marijuana
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Superwash ‘juggernaut’ not stopping in face of war’s ‘massive shock’
the imminent expansion given that its concrete wall panels can be employed in a variety of projects ranging from shopping malls to commercial buildings and apartment complexes. Emphasising that the facility is not solely dedicated to serving his Windsor Lakes development, although it is located on-site at the south-west New Providence project, Mr Myers told Tribune Business that the plant evolved from becoming the Bahamian licensee for Superior Walls. While the walls were previously made offshore and imported, he added that “this is the first time” such a product is being manufactured in The Bahamas.
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
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industry - from cultivation to DR MICHAEL retail sales DARVILLE - ensuring regulators can track production, distribution and licensing compliance. “This digital platform will guide the industry from seed to sale, and support the licensing process that many people have been waiting for,” he added. Dr Darville acknowledged that implementation of the system was delayed after BioTrack was acquired by another company. “We experienced some delays because BioTrack was acquired by another company called Metrc,” he said. The completion of the digital monitoring system is expected to allow regulators to move forward with licensing the businesses that
REGULATE - See Page B7
DIONISIO D’AGUILAR And, despite being heavily-dependent on energy and fuel (propane) for its business, he added that Superwash will likely “eat” the impact of conflict-driven cost increases initially rather than pass them on to Bahamian consumers given that its operating model calls for price stability rather than frequent increases. Bahamians will also likely see reduced disposable incomes
EXPAND - See Page B4 Noting that this is the same market that The Bahamas is seeking to attract to purchase real estate and domicile here, with this nation able to offer the same lifestyle and climate several thousand miles removed from the Middle East and the current conflict zone, Mr Myers told this newspaper: “It could potentially be a benefit. Ten thousand millionaires moved to Dubai last year. “What this demonstrates is that the current instability in the Middle East, that may cause people to pause and think about other tax-friendly environments to live in like The Bahamas. On the one side
FUEL - See Page B5
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THE TRIBUNE
Tourism operators fear Iran conflict slowdown BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net BAHAMIAN hotels and tourism operators yesterday said they are bracing for reduced bookings and a downturn in business if the Middle East conflict becomes a protracted war. Lee Prosenjak, managing director at Harbour Island’s Valentine’s Resort and Marina, said the uncertainty surrounding travel and costs due to the Iran war’s economic fall-out as well as other challenges - are all factors that will contribute to The Bahamas experiencing a decline in tourism. The resort, he said, is currently seeing shorter stays and a smaller booking window, which will likely only “worsen”. “According to the Bahamas Hotel Tourism Association, they're saying that US foreign travel is already trending down about 6 percent compared to last year in terms of people even leaving the US which, as you know, is our biggest demographic,” Mr Prosenjak added.
“So that's not as hopeful and positive as I'd like it to be. I'm sure it's multiple factors, including what the US does as well in response to, not only Iran, but also what the economy looks like and all that sort of stuff, too. “I know that the unemployment numbers rose last month in the US, in February, by I think it was 79,000 new unemployment claims, which was a little bit higher than normal for a monthby-month sort of thing. So I do think that there's probably going to be an affect,” he said. “What I think that we're kind of seeing, as I've mentioned before, is shorter stays. We're busier on the weekends than we are during the week. And they're coming at us pretty quickly, like within a ten to 13-day booking window. So they're booking just ten days out. So I think that that'll probably continue or even worsen. People will wait until the very last second to make sure there's not a problem with flights or something else going on randomly that would affect
them being able to travel, especially out of the US. “They don't know if they're going to be able to travel. They don't know if it's going to be a good option. We used to see a bit of that because people were concerned about weather, which you don't really think about in March. But you do when it's in offseason or something like that... So, that's sort of typical, but that's like a small percentage of that, and now lot of the bookings are coming in two or three days from now. So they'll plan on coming, but only three days from now do they actually make the reservations and things. So that makes it pretty tough to staff for.” Both Mr Prosenjak and Jill Smith, owner and operator of Stella Maris in Long Island, expect to see a rise in fuel costs. Ms Smith said this means air fares will also increase for tourists arriving in The Bahamas. “[It’s] very worrisome,” she added. “Definitely we're going to be affected. First of all, oil prices have gone up. That means the price of everything else will go up, making it very
expensive. The Bahamas is already very expensive, so it's just going to make it even more expensive. Our prices are going to go up. Flying is going to go up, so food, drink, everything's going to go up. “So first of all, again, you're fighting the financial aspect of it, and you're fighting, once again, the uncertainty. In uncertain times, the first thing people do is they don't travel. They're not sure how they're going to be affected privately. They don't know if their kids are going to be affected. So everybody's just going to go on halt. “So definitely tourism in The Bahamas is going to go down. I think The Bahamas as a destination, we're still better than everybody else, especially people coming, let's just say, from Florida come by boat, or you do a little short hop on Bahamasair. But that's not the bulk of our visitors,” Ms Smith said. “But look at everywhere. Everything is scary right now. Then there's talk of sleeper [cells] all over the United States. First thing they're going to do is target
A THICK plume of smoke rises from an oil storage facility hit by a U.S.-Israeli strike late Saturday in Tehran, Iran, Sunday, March 8, 2026. Photo:Vahid Salemi/AP air travel. It just seems like one thing after another. So, yeah, we're anticipating a big slowdown soon.” Ms Smith added: “Unless the war is over, as [President Donald] Trump said, it's basically over. But you see, you just never know. One day he says this, one day he says that. He's caused all the confusion in the Middle East. Now the Middle East is fighting each other, and he dips out and goes and plays golf. So he's created this mess. This isn't over by a long shot.” Mr Prosenjak said he is concerned about rising fuel cots for boaters. “It's more about pricing and people not showing up,” he added. “I'm not concerned for our public safety in terms of I'm not worried that we're
going to get suddenly occupied by the Iranian navy or something. “I'm more concerned about yet another factor raising costs and creating uncertainty in the market to potentially do damage to us. And I would see that affecting all markets, but maybe even more the boating market because if gas prices go up that much on an air plane, if fuel prices go up, you're spreading that out among 200 passengers on a regional jet. “So, if it goes up by $1 a gallon, your flight costs may have increased by $5 to $10 per person. You do that to a boat that's burning 1,000 gallons to come across, well, that's an extra $5,000 worth of fuel that you got to pay.”
FARMERS, agribusiness operators and agricultural stakeholders attended the launch of the Integrated Land Management (ILM) training series and grant programme, held at Crypto Isle on East Bay Street.
Governor General meets Land management with the Engineers Board initiative to aid food DAME Cynthia A. Pratt, the governor general, received the Professional Engineers Board in a courtesy call at Government House on Wednesday, March 4, 2026. (BIS Photo/Letisha Henderson)
security, climate fight A CO-ORDINATED national effort to strengthen land management, expand domestic food production and build climate resilience has been launched through the Integrated Land Management (ILM) training series and grant programme. The seven-island pilot, which was unveiled at Crypto Isle on East Bay Street, pairs technical agricultural training - jointly designed and delivered by the Bahamas Agriculture and Marine Science Institute (BAMSI) and the Caribbean Agricultural Research and Development Institute (CARDI) - with grant funding administered through the Bahamas Development Bank (BDB). BDB officials said the funding component is designed to work alongside structured training to improve project readiness and long-term viability, while providing schools, farmers and agribusinesses with financial support to modernise operations and strengthen sustainability. The pilot programme will launch in New Providence, marking the start of a national series designed to combine technical instruction with practical guidance on sustainable land management. A second course will be held in New Providence in late March before the training initiative moves to Andros in April. Sessions will be conducted live on-island, via Zoom, and recorded to broaden access across the country. Farmers, agribusiness operators and individuals interested in entering the agricultural sector are encouraged to participate. As a principal technical partner, BAMSI will play a central role in delivering the ten sustainable land management training courses over the next six months in collaboration with CARDI and other project partners.
Zakita Bethel, project consultant with BAMSI, outlined the structure and scope of the programme, which will be rolled out across Abaco, Andros, Cat Island, Eleuthera, Grand Bahama, Long Island and New Providence. If successful, the pilot initiative is expected to expand to additional islands. Ms Bethel said the curriculum will cover regenerative soil fertility management, integrated pest and disease management, water and irrigation systems, animal nutrition and feed development, livestock productivity and broader climate-smart agricultural practices. During the question and answer (Q&A) portion of the launch, audience members highlighted concerns surrounding pesticide management, regulatory oversight and ingredient standards, which reflected the growing importance of clear policy guidance and safe agricultural practices within the sector. The discussions emphasised the need for strong compliance frameworks alongside efforts to increase production. Among those in attendance were farmers, agribusiness operators and agricultural stakeholders, signalling strong interest in co-ordinated, island-based approaches to strengthening food security and sustainable land management. Farmers, agribusiness operators, schools and individuals interested in participating in the free ILM training series are encouraged to register online at ‘https://form.jotform.com/260622579051860’. The ILM training aeries is being implemented through collaboration among BAMSI, CARDI, the Department of Environmental Planning and Protection (DEPP), the United Nations Environment Programme (UNEP) and the Bahamas Development Bank. The initiative is supported under the Global Environment Facility (GEF)-funded project, ‘Integrated landscape management for addressing land degradation, food security and climate resilience challenges in The Bahamas’.
THE TRIBUNE
Opposition finance chief: Gov’t and GBPA both lost BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Opposition’s finance spokesman yesterday argued that both the Government and the Grand Bahama Port Authority (GBPA) lost their most significant claims in the recent arbitration ruling to leave multiple unanswered questions about Freeport’s future governance and development. Kwasi Thompson, the east Grand Bahama MP, told the House of Assembly that the Government’s pronouncements do not fully reflect the outcome as its demand that the GBPA pay
$357m to compensate it for expenses incurred in Freeport which exceed the city’s tax revenues were rejected. “The Government sought more than $300m in damages, and that claim was dismissed,” said Mr Thompson. “At the same time, the tribunal did not grant the Port Authority’s sweeping claims either. In truth, both sides lost their most significant claims.” Mr Thompson said he attended the Government’s public town hall meeting on the ruling in Grand Bahama earlier this week and questioned how the decision was being characterised. “I attended what felt like a PLP rally-type event yesterday,” he said. “I watched
Boating fees hold-up Briland hotel’s $850k marina revamp BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net A HARBOUR Island resort yesterday said $850,000 in planned renovations for its marina are behind schedule due to increased boating fees that have sparked a bookings decline. Lee Prosenjak, Valentine’s Resort and Marina’s managing director, told Tribune Business that the resort is “slow playing” the upgrades due to multiple factors with completion now overdue. Noting that he is having to work on cash flow, he added that other challenges including rising fuel cots due to the war between the US, Israel and Iran, plus US tariffs, are all
impacting the final price tag for the upgrades. “Well, we're slow playing it because I got to work on cash flow,” Mr Prosenjak said. “If I don't have money left at the end of the month to do that, then… It's been much slower going. “And again, quite frankly, if the fuel prices go up, I'm going to see higher costs of shipping to get all that product in here regardless of anything else. And so it's going to increase my cost overall to do all that stuff. We're still renovating our rooms at the resort. We're still renovating the dock. It’s just taking longer than it should.” He added: “It [boating fees] plays a lot with my cash flow. So if there's no money coming in… Even during off-season, we're open. We're taking
Wednesday, March 11, 2026, PAGE 3
as an attorney sought to suggest you could get damages from a claim that was dismissed. That is not what happened.” Mr Thompson argued that much of what the tribunal referenced simply reflected arrangements that had already existed in practice for years. “Much of what the tribunal described reflects arrangements that were already in place — Immigration, Customs, land development and environmental laws,” he said. “Most of the claims were dismissed because, in practice, governments — both PLP and FNM — had already rejected those claims.” Mr Thompson said residents in Grand Bahama
are less focused on who “won” the arbitration and more concerned about what comes next for the island’s economy. “I had discussions with some lifelong Grand Bahamians who accepted that both sides lost, but what concerned them was what comes next,” he said. “Unfortunately, the tribunal did not fix this.” Mr Thompson argued that the ruling highlights the need for a fresh approach to Freeport’s development model. “Freeport needs a new chapter in its development,” he added. He said the Opposition supports enforcing the review provision of the Hawksbill Creek
Agreement, a clause the tribunal upheld, through negotiations aimed at defining the future governance and structure of the Port area. “We support enforcing the review provision of the Hawksbill Creek Agreement, the provision the tribunal actually upheld, and an FNM government would use that right through disciplined, transparent negotiations,” said Mr Thompson.
He added that businesses operating in the Port area should have a greater role in shaping its future governance. “Licensees must have a real seat at the table; not cursory consultation, but actual involvement in the management of the Port area that affects their businesses and livelihoods every day,” he said. Mr Thompson also called for expanded ownership opportunities within the Port area and greater accountability if the GBPA continues to exercise functions similar to those of government. “If the Grand Bahama Port Authority is going to continue exercising functions that are essentially governmental in nature, then it must be accountable like any government body,” said Mr Thompson. “That means management that answers to the people it serves, with real elections and real accountability.”
reservations all year round, let alone on season. And so, I just didn't have those reservations coming in as I normally would. We're usually booked solid from December - at least the 24th through January 1 in the marina. I didn't have any of those reservations coming in. So those weren't coming.” Mr Prosenjak said in July last year that he was considering revamping the marina, which is home to 51 slips. At the time, boating fee increases had just come into effect and the industry began receiving major pushback from foreign boaters threatening not to return to The Bahamas. Mr Prosenjak questioned whether the improvements to the dock could be justified if there are fewer boating visitors. “We’ve got a project that’s going up that starts at the end of July or early August for $850,000 worth of improvements to the marina,” Mr Prosenjak said last year. “And now I got to sit here and factor do
all those matter any more? Do I still need them? If I’m going to have less boats, it’s a lot harder to justify spending that money. Which is a lot of Bahamian labour that could come in and Bahamian contractors.” Mr Prosenjak yesterday said he he has been doing the project piecemeal because he has had to switch contractors and source from New Providence. “So the dock started in October of last year. And the project is about $850,000, and we started that with the hopes of just getting it done right away,” he added. “It was replacing 105 pilings. We subsequently increased that by about 20 because we found even more as we were going through and pulling things to get those going. And we got through about 65. “And I was having a hard time getting any of the local contractors. There's only one and a half local on-island contractors here, like from Spanish Wells and things. The guy's always
booked up. So I called a company out of Nassau, and paid $35,000 to have their barge come across with their crane. And once he got here, they replaced 65 filings, and then their crane broke, and then they took the barge back to Nassau. And I didn't hear from them again,” he said. “So I was trying to keep it together with a couple other contractors here, and work will begin again, hopefully next week that I have a different team coming to complete the project. That'll start up again next week. So, you know, it's been piecemealing it together, in that case, to try and get this stuff done.” Mr Prosenjak said he expects it to be finished within 60 days. “The way that I'm getting it to happen is with the assistance of the vendors that I'm using. The manufacturer and the parts suppliers are effectively giving me some credit terms in order to make that happen,” he added. Rooms at the resort are also being renovated.
However, Mr Prosenjak said it is meant to be an ongoing project. While he does not believe the war will impact the dock’s completion, he believes it may disrupt upgrades to the bedrooms that are being upgraded. “That's meant to be an ongoing project,” he said. “So I didn't have an official start date, and we don't have an official end date. We're ordering custom furniture and custom draperies and custom counter-tops and things like that. So it's going to be a long process, and we're trying to do that smartly as well, so that way it comes out of cash flow and it's not a huge chunk out of everybody's pocket. “I don't think it's [war] going to impact the dock timing. It might impact the room renovation timing in terms of how long it takes, because if there's less cash flow coming in, then I’m not going to have the money available to buy 35 new couches today. I got to wait until I can do that and get that all into place.”
KWASI THOMPSON
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THE TRIBUNE
Investors won’t move unless without ‘calmness, certainty’ EXPAND - from page B1 and purchasing power with cost of living pressures set to intensify yet again. “It’s a massive shock. It’s very unforeseen, it’s very unplanned,” Mr D’Aguilar told this newspaper of the economic ripple effects from the joint US-Israeli decision to strike Iran, and which The Bahamas will not be able to escape. “Fuel is a major component of my business and, I’m sure, of many businesses. The rapid and substantial increase in oil prices is an unforeseen increase in costs which, inevitably, will begin to filter through to the cost of most goods and products sold in The Bahamas. “Energy is used to make these items, energy is used to ship these items, energy is used to sell these items. Every stage of the supply chain and sales process, energy is being used. Inevitably prices begin to creep up and it takes a while for it to filter through, and for those businesses like mine that try not to adjust prices
that often, on this occasion while the increase is shocking and sudden, we end up eating it. “With this business model of adjusting prices as infrequently as possible, no more than once per year at the start of the year, we are probably going to eat these price increases.” With global oil prices and the Middle East conflict outside The Bahamas’ control, Mr D’Aguilar said this nation can only hope that Donald Trump lives up to his previous promises that the Iran war will be short and the economic fall-out - led by higher crude oil prices proves a temporary, rather than long-lasting, impact. “Hopefully President Trump lives up to his pronouncement that it’s going to be a short war. That’s what we’re all hoping,” the Superwash chief said. ”He seems to be a president governed by the ebbs and flows of the stock market. When the stock market begins to slide, he moves to arrest that and hopefully that will start the process to pull out of this war.
Fears Gov’t and GBPA have reached ‘impasse’ MEETING - from page B1 work it out yet. So we’re still up in the air,” the newly-elected GB Chamber president said. Mr Hepburn said the central concern for the business community is understanding what the ruling means in practical terms for Grand Bahama’s economic future. “Our concern, and my concern basically, is: Where does this leave us as a business community, or as the community of Grand Bahama, in terms of how this will affect our day-today endeavours - whether personal or business - and how we move forward to grow and develop Grand Bahama?” he said. He added that some licensees had hoped the meeting would provide clarity. “Before the meeting, one of the licensees told me he believed the Prime Minister would have cleared up any concerns. I didn’t see any clarity,” said Mr Hepburn.
“I didn’t get to speak to him after the meeting, but I’m hoping I can reach him by the end of the day to find out if his concerns were cleared up, because I know mine weren’t.” Mr Hepburn’s concerns were echoed yesterday by the Freeport Licensees Association. “Licensees remain focused on one priority: The long-term stability and economic growth of Freeport,” the Association said in a statement. “While public engagement is important and there was some constructive participation, many in the business community left the meeting wanting more clarity and continued productive dialogue on the issues affecting Freeport’s progress. “The people of Freeport deserve clarity, not conflict, particularly on matters that have significant implications for the island’s future. The arbitration ruling was intended to provide legal interpretation and direction
“It is significantly impactful for every business. Everything is going up. Salaries are not going up, which will erode the spending power of ordinary Bahamians. Most people are in arrangements where salaries are fixed, so earnings and wages are not going to be adjusted to accommodate for increased costs at the gas pumps and food stores. The more we have to spend on oil and fuel imports, the less there is to spend domestically. We are spending more in foreign currency to purchase oil, which leaves less for consumption in the domestic market.” Mr D’Aguilar voiced optimism that Bahamas Power & Light’s (BPL) December 2025 move to hedge two million barrels of oil at an all-in price of close to $70 per barrel will help to mitigate the impact on business and household electricity bills, although the extent of any relief and for how long it lasts will depend on the utility’s monthly fuel consumption as well as the Iran conflict’s duration.
“They are in the money with oil prices having skyrocketed to $119 per barrel, and then coming down to $82 per barrel, and that will be immensely helpful,” Mr D’Aguilar added. “I think most businesses were operating confidently at $70 per barrel. It’s not the amount of the increase; it’s the rate of increase within a week. We’re all hoping and praying that the US and Israel complete their objectives, and Iran is minded to step down once they stop and there’s a certain element of calm that persists.” In the absence of such calm and certainty, the Superwash chief said many businesses will likely holdoff or delay investment and expansion plans. “Everybody is probably stopping what they are doing,” he added. “If you are about to make an investment decision it’s ‘Let me see what’s going on.’ You need calm and certainty to invest. “We’ve pulled the trigger on East Street South. We’re in motion. There’s no way to stop that juggernaut. But does this negatively impact
the economy of The Bahamas? Yes, it does.” A former minister of tourism and aviation, Mr D’Aguilar said whether The Bahamas suffers an economic contraction or recession will depend heavily on if it suffers a slowdown in visitor arrivals and spending as a result of a prolonged Middle East conflict that causes US travellers - who make up 90 percent of The Bahamas’ market - to lose confidence to fly and suffer from reduced disposable income. He added that Nassau/ Paradise Island will likely suffer more than the Family Islands. “It will be how that impacts the US economy, and how that translates into how Americans spend money to travel. What we’ve found is our market in Nassau is more susceptible to this type of shock, the Family Islands less so,” Mr D’Aguilar said. “They are much more resilient. It’s a wealthier demographic that goes to the Family Islands. While there’s a drop, it’s not as significant as in Nassau.
“If this war goes on for a long time, it will impact decisions to travel. Nassau attracts more of a middle and upper middle class income traveller from the US, so they are much more impacted by these external shocks whereas the persons that go to the Family Islands are a bit more affluent so they are less impacted by these types of events. “We need some stability, some calm, and the US consumer feeling upbeat, optimistic and positive. This war does not help that at all. Everyone is kind of jittery and praying this finishes, and that Trump follows the model of other countries where he goes in, bam, and everything falls back into place with no troops on the ground.” Superwash’s proposed near-11,000 square foot laundromat and retail complex at East Street South is priced at close to $4m, and scheduled to take around 18 months to complete.
within the framework of the Hawksbill Creek Agreement. At this stage, the focus should remain on ensuring that the issues are clearly understood and that the path forward is guided by co-operation rather than division… “The Association continues to encourage constructive engagement between the Government of The Bahamas, the Grand Bahama Port Authority and the business community. Open dialogue, transparency and collaboration remain essential to creating the conditions necessary for investment, job creation and sustainable growth,” ot added. “Grand Bahama contributes significantly to the national economy, and its continued success is important not only to its residents but to the country as a whole. The issues that matter most to the people of Grand Bahama are clear: Strengthening infrastructure, supporting the tourism sector, and creating an environment where businesses can grow and employment opportunities can expand. Grand Bahama’s
future depends on stability, cooperation, and a shared commitment to progress.” However, some contacts suggested that the Government and GBPA are positioning to engage in a renewed battle rather than negotiate a mutually-agreed settlement. “The Prime Minister is very serious,” one Freeport source said. “I can tell you that. It’s going to be a slugging match. I think it’s an impasse in many ways, it’s an impasse.” Another source said of the arbitration ruling: “The people in my circle share the same view: It doesn’t help anyone. It doesn’t change anything.” Dillon Knowles, the immediate past GB Chamber president, said he did not believe the Town Hall changed the underlying facts of the arbitration ruling, arguing the decision itself is straightforward for anyone who reads it. “Personally, I don’t think the Town Hall meeting changed anything. Everybody could read the ruling for themselves,” said Mr Knowles. “There was never any ambiguity about the sovereignty of the Government of The Bahamas from anybody’s perspective, so there is no discussion to be had on that subject.” He added that the tribunal rejected the Government’s claim that the GBPA owed a net financial deficit. “If you read the ruling it is clear that the Government’s claim of a net deficit, which the Port Authority had to make up, was denied,” he said. Mr Knowles said the tribunal instead pointed to another provision involving a stipend paid by the GBPA to the Government that the two sides may need to discuss further.
“The tribunal’s response pointed to another clause under which the Port Authority was providing a stipend to the Government, and that is a clause the Government and the Port Authority should have a discussion about continuing,” he said. “Those are the facts of the ruling.” Mr Knowles argued the way forward for Grand Bahama lies in greater collaboration between the Government, the GBPA and its licensees as originally envisioned under the Hawksbill Creek Agreement. “The way forward for the island is what we’ve been agitating for years — that the Government and the Port Authority collaborate as the Hawksbill Creek Agreement intended for the good of the island and the country as a whole,” he said. Mr Knowles also maintained that Grand Bahama remains a critical economic engine for The Bahamas despite the challenges it has faced in recent years. “Regardless of what we think about everything that has happened in Grand Bahama, the Port still provides more economic impact to the country, more funds to the public treasury, and more sustainable livelihoods to the people of The Bahamas than all the rest of the Family Islands combined,” said Mr Knowles. He added that the island has the capacity to expand significantly without major public spending. “It’s the only island in the country that is ready to expand its population by another 150,000 to 200,000 people at this very point in time without Government expenditure,” said Mr Knowles.
“If we don’t protect Grand Bahama and utilise it for the betterment of The Bahamas, then we’ve done the country an injustice, not just Grand Bahama.” Both he and Mr Hepburn spoke in their personal capacities. In a separate statement issued after the Town Hall, the Grand Bahama Chamber of Commerce said it remains focused on promoting the success and sustainability of businesses on the island while encouraging co-operation among all parties involved in the dispute. “The Grand Bahama Chamber of Commerce remains focused on its core mission: Advocating for the success and sustainability of businesses in Grand Bahama,” the organisation said. “At this time, we believe progress depends on constructive co-operation among all stakeholders including the Government of The Bahamas, the Grand Bahama Port Authority, the private sector and investors - working together in the best interests of the island’s economic future.” The GB Chamber added that Grand Bahama represents one of the country’s greatest opportunities for economic growth, but said realising that potential will require collaboration and a shared commitment to strengthening the island’s business environment. “Ultimately, the success of all stakeholders is tied to the success of Grand Bahama itself,” it said. “The Grand Bahama Chamber of Commerce remains committed to supporting initiatives that promote a stable, competitive and thriving economy for the benefit of the entire community.”
THE TRIBUNE
Wednesday, March 11, 2026, PAGE 5
Developer predicts plant can ‘double in size again’ PRODUCE - from page B1 “We’re doing pre-cast wall systems. We’ve built a concrete panel plant out on-site,” Mr Myers said, “not just for Windsor Lakes but The Bahamas in general. It’s all up and running and next month we’re going to double the size of the plant. We’re going to go from 9,000 lineal feet to 18,000 lineal feet per annum. “It’s going well. We’re going to be hiring more people. We’re like at 15 at the plant and have probably got another 50 on-site in construction. We’re booked through. We’ve got orders through August to September. We’re building some in Lyford Cay, we’re looking at some in Albany, we’re looking at some in Baker’s Bay (Abaco), we’re looking at some in Eleuthera.
“They are 5,000 PSI panel walls and fully insulated,” Mr Myers added. “They are really strong and very energy efficient because they are all insulated and very quick to erect. We’re probably at $3.5m in investment, and it’s not just for Windsor Lakes. We’re doing it for Capstone Construction. The big intent is to be more efficient and stronger. “It’s a competitive construction technology to pour panel walls in place. It’s a lot faster, it’s a lot stronger than block construction with cushion and belt. It’s so much faster and more energy efficient. You can put up the walls with everything in place; with insulation and metal studs in place to receive the sheet rock.” Confirming that the Superior Walls product is already being sold to other Bahamian contractors, Mr Myers said the expansion
FOCOL chief reassures on fuel supply ‘adequacy’ FUEL - from page B1 there’s some risk but, on the other side, potentially there’s some reward.” Mr Myers cited data released by Henley & Partners, an advisory firm to ultra high net worth individuals on residency and citizenship, which showed the extent of the millionaire and billionaire influx to wealthy Gulf states in the Middle East. Dubai’s international financial centre features 120 family offices that, collectively, have $1.2 trillion in assets under management. “Certainly we should be positioning ourselves that way,” Mr Myers replied, when asked by Tribune Business whether The Bahamas should target those fleeing the Middle East and seek to entice them to this nation. “Tourism is on the rise, and interest in The Bahamas as a second home destination for private individuals and hospitality investment is on the rise. The number of projects on the books is just massive. There’s a lot of interest in The Bahamas at the moment. I don’t know
how much of that materialises, but I see strong growth into 2026 and through to 2027. “That’s assuming the Government doesn’t do anything suddenly. We have to keep taxes down, keep income tax off the table, and corporate tax at a modest rate, and VAT and public spending under control. If we do that, at the current rate of gross domestic product (GDP) growth we will start to catch up and get closer to surplus numbers or break even. A balanced Budget, right?” Mr Myers continued. “I’ve not seen any of the political parties have the desire to reduce the number of civil servants or get costs under control. The only way to do that [a balanced Budget or surplus] is to keep your costs stable and grow GDP and revenue. Assuming the PLP and FNM can do that, the Bahamas could very well be in an advantageous position in five to ten years’ time. Hopefully, nothing globally destroys that happening in the meantime.” Dexter Adderley, president and chief executive of
was occurring ahead of schedule and his own expectations. “We thought we’d be doubling the size of the plant next year, and are doubling it a year early,” he told Tribune Business. “We’re doing quite well. “With this system, what the real clincher is is that you can build the walls offsite while the foundation is built on-site. You can build the walls in parallel to the slab being constructed. Currently, you have to have the slab in place and completed before you do the walls. Now, you can put the structural walls of a home up - let’s say it’s a 3,000 square foot home - you can erect those structural walls on the slab in one day because they have already been finished elsewhere. “Think how much faster those structural walls are done in the shop while doing the slab,” Mr Myers added. “That’s a significant
reduction in time; all that time. And the cost is amplified significantly if you wait to do the walls until the foundation slab is completed. In the Out Islands, you have to pay for labour, accommodation, transportation, food and fuel. “Your cost savings become more significant when those walls are made off-island, you can ship them in, put them in place the same day and go home. We did it in the past by bringing the walls in, but this is the first time this system has been manufactured here. People are starting to see the value in it. Time and cost. It’s got equal strength, 5,000 PSI, and is impervious to water. We have very high strength, and high-quality concrete that is steel reinforced.” Asked about future expansion prospects, Mr Myers said: “We think we could double the plant size
again. It just depends on the use. You can start doing shopping centres, commercial buildings, apartment complexes. It depends on how well it’s adopted by other contractors. “It’s not exclusive to us. We’ll sell the wall panel system to other contractors. We’ll install the walls and they finish the building. We’re manufacturers and installers, and don’t have to build. It’s a matter of whether other contractors adopt the system or not. If they build single or multi-family homes across the islands they can use Superior Walls. It will be really how well it gets adopted, but so far people are already looking at the benefits.” Mr Myers, meanwhile, said his Windsor Lakes project, which is targeting middle class Bahamian buyers and upwards, is aiming to have sold 60
percent of its total 173 lots by month’s end. “We’re just under 60 percent,” he confirmed to this newspaper. “We’ve got steady sales month-tomonth; some are slower months, some are better months, but the sales are trickling in. I would hope that, by the end of March, we’ll be right around 60 percent. “We’re building and have four to five homes coming out of the ground at Windsor Lakes, plus the club house, the gym, the pool, the amenities. We’re going vertical; we have finished all the infrastructure, and are putting in the play courts for tennis, padel ball. There’s also another 24,000 square foot storage building that we’re building out.”
BISX-listed FOCOL Holdings, which operates under the Shell brand and is one of The Bahamas’ three oil majors, yesterday predicted that Bahamians could see as much as a 30-50 cent per gallon increase in pump fuel prices within the next one to three weeks as a result of oil price volatility sparked by the Iran conflict. “It’s going to be totally dependent on inventory levels,” he told Tribune Business, explaining that the timing of any increase will depend on when existing supply stocks for FOCOL, Rubis and Esso (Sol Petroleum) are depleted and fresh inventories acquired. “I anticipate it in a couple of weeks,” Mr Adderley added of any price hikes for Bahamian motorists. “There’s no set formula… Generally, these types of changes, you start to feel the impact in a couple of weeks. It could be anywhere from one to three weeks.” Gasoline and diesel prices and margins, at both the wholesale and retail level, are price-controlled in The Bahamas by the Government. However, Mr Adderley suggested that magnitude of any per gallon increase will likely be similar to those experienced in Florida in recent days. “I think it’s going to mirror what is happening
in the US; somewhat mirror what is happening in the US,” he said. “We’re seeing between 30 cents to 50 cents. It really depends on the timing and when purchases are made and inventory levels. I don’t have an exact figure but it’s probably going to be between 30 cents to 50 cents per gallon based on what we’re seeing happening in the US.” Mr Adderley, though, reassured Bahamians that fuel supplies are secure and there is no danger of any fuel shortages despite the Middle East conflict closing the Strait of Hormuz, the 24-mile wide channel or ‘choke point’ artery through which around 20 percent of the world’s oil capacity must pass before it reaches global markets. “There’s not a lot we can do about it other than to be efficient with transportation and maintain adequate supplies in situations like this,” the FOCOL Holdings chief said. “It’s important to maintain adequate inventory to reassure the motoring public you have adequate supplies. The good news is we have adequate supplies. The public can be assured of it. “We see efforts are being made globally to counteract the impact. It’s really a wait and see situation, and hopefully the conflict will come
to a solution in the near future. I have no doubt that we’ll be fine and we’ll get through it. We’re monitoring the situation extremely closely to make sure we have supplies, and whatever we can do to mitigate the price impact we will do so.” The Governments is hoping that Bahamas Power & Light’s (BPL) December 2025 fuel hedge, when the price of two million barrels of oil was locked in at around $70, will help to mitigate the impact on Bahamians’ electricity bills although the magnitude of this effect - and how long it will last - is uncertain. Oil prices endured another roller-coaster and volatile day on world markets amid competing news featuring oil refinery closures, threats by Iran to mine the Strait of Hormuz waterway and US threats of military action to prevent
this, and suggestions that the US may provide naval escorts to tankers traversing the Persian Gulf war zone. The price of Brent crude, the international benchmark, moved from a low of $82 to as high as $92 per barrel after the conflicting reports. The former price was still well above the $72 a barrel before the US and Israeli attacks on Iran, but lower than the peak of $119 hit earlier this week, which was the highest price since 2022 when Russia invaded Ukraine. Aramco, the Saudi state oil company, warned of “catastrophic consequences” for the world’s oil markets and prices if the wa continues to block shipping in the Strait of Hormuz although the world’s biggest oil exporter expects to be able to supply about 70 percent of its usual crude oil output.
NOTICE
NOTICE
NOTICE
NOTICE is hereby given that I JEANLUKENS DOUTILIEN of Acklins Street, Nassau, The Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that I KATIA LOWE BELONY of P.O. Box N 356, #35 Union Village, New Providence, Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE
NOTICE is hereby given that MARIE CHARLES of Spitfire Road, Stapledon 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that I WILZOR ANTOINE of Golden Gates #1, New Providence, Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that I SHANNON LEE KEMP of #3 West & Marlborough Street, Nassau, The Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE
NOTICE
NOTICE is hereby given that RODRIGUE AUGUSTIN of Minnie Street, Nassau, The Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that VENISE AUGUSTIN of Minnie Street, Nassau, The Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that I KENDA OLIBRICE of Romer Street, Fox Hill, New Providence, Bahamas, 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 4th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
Arrow-words are like crosswords, but t THE TRIBUNE inside squares on the grid. Write blank squares in the direction indic
PAGE 6, Wednesday, March 11, 2026
wordSEarch JUDGE PARKER
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HAGAR THE HORRIBLE
TIGER
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CALVIN & HOBBES
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CRYPTOQUOTE AXYDLBAAXR is L O N G F E L L O w One letter stands for another. In this example, A is used for the three L’s, X for the 2 O’s, etc. Single letters, apostrophes, the length and formation of words are all hints. Each day the code letters are different. Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Sudoku increases from Monday to Sunday
Yesterday’s Sudoku Answer
MICRO CROSSwORD
CHALLENGER
Yesterday’s Answers
THE TRIBUNE
Wednesday, March 11, 2026, PAGE 7
Minister blames delay on technology provider’s sale REGULATE - from page B1 will operate within the medical marijuana industry once the regulatory framework is fully implemented. The Bahamas has been working to establish a regulated cannabis industry since the Government introduced legislation
aimed at legalising cannabis for medical and religious purposes while decriminalising possession of small amounts. Parliament passed a package of cannabis-related bills in 2024 that created the framework for a regulated industry, including the establishment of a national
Cannabis Authority to oversee licensing, compliance and industry standards. The legislation also outlines several licence categories covering cultivation, manufacturing, transport, retail sales, testing and religious use of cannabis. Under the framework, cultivation, retail, transport
and religious licences are reserved for Bahamian citizens or companies that are fully Bahamian-owned, while other licences such as manufacturing or research may include partial foreign ownership The law also decriminalised possession of small amounts of cannabis,
replacing criminal penalties with a fixed fine for individuals found with up to 30 grams. Despite the passage of the legislation, the full roll-out of the industry has taken time as the Government worked to establish the regulatory authority and the technology systems
needed to monitor the sector and issue licences Completion of the national digital tracking platform is expected to be a key step towards launching the industry and issuing licences to growers, manufacturers, retailers and other participants.
US homes sales rose in February as homebuyers seized on easing mortgage rates By ALEX VEIGA AP Business Writer SALES of previously occupied U.S. homes picked up in February from the previous month as home shoppers took advantage of easing mortgage rates and a modest increase in properties on the market heading into the spring homebuying season. Existing home sales rose 1.7% last month from January to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors said Tuesday. Sales fell 1.4% compared with February last year, with every region except the South posting lower sales versus a year earlier. The latest sales figure topped the 3.84 million pace economists were expecting, according to FactSet. “Good momentum, but nonetheless sales are still below one year ago,” Lawrence Yun, NAR’s chief
economist, said during a conference call. Home prices continued to rise last month, albeit more slowly. The national median sales price increased 0.3% in February from a year earlier to $398,000, an alltime high for any February on data going back to 1999, NAR said. Home prices have risen on an annual basis for 32 months in a row. The latest sales trends follow a dismal January, when existing home sales posted their biggest monthly decline in nearly four years and the slowest annualized sales pace in more than two years, although NAR has since revised January’s sales data modestly higher. The U.S. housing market has been in a slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes remained stuck last year at 30-year lows.
Sales have been hovering close to a 4-million annual pace now going back to 2023. That’s well short of the 5.2-million annual pace that’s historically been the norm. A sharp run-up in home prices, especially in the early years of this decade, and a chronic shortage of homes nationally worsened by years of below-average home construction have left many aspiring homeowners priced out of the market. At the same time, mortgage rates have been trending lower, boosting the purchasing power for home shoppers who can afford to buy at current rates. The average rate on a 30-year mortgage dropped two weeks ago to just under 6% for the first time since late 2022, according to mortgage buyer Freddie Mac. First-time buyers were among those who took advantage last month of easing mortgage rates. They made up 34% of all home
White House says it fired NTSB member over misconduct but Todd Inman denies the allegations By JOSH FUNK AP Transportation Writer THE White House said it fired a National Transportation Safety Board member after reports of drinking on the job and harassing staff, but Todd Inman flatly denied the allegations Monday and said he plans to fight back. Inman revealed Sunday that he had been fired on Friday without explanation, though his term on the board was supposed to
continue through the end of 2027. President DonaldTrump's administration said Monday that it believes the firing is justified. "The White House lawfully removed Todd Inman from the NTSB after receiving highly concerning reports of inappropriate alcohol use on the job, harassment of staff, misuse of government resources, and failure to attend at least half of NTSB meetings," White House spokesman Kush Desai said. "The Trump
administration remains committed to maintaining safety and security for Americans in the air and on the ground." Inman said Monday that he hadn't initially planned to sue over his firing, but now says, "I look forward to defending my reputation through all legal means possible." "I categorically deny the allegations made in the
A “FOR SALE” sign is seen in Portland, Ore.
Photo:Jenny Kane/AP
purchases in February, matching the highest level in the last five years, Yun said. However, the 10-year Treasury yield, which lenders use to price home loans, has climbed following the spike in oil prices since the Iran war started, which could lead to higher mortgage rates just as the spring homebuying season gets going.
“Despite mortgage rates falling below 6% briefly, international conflict has sent them higher in recent days,” Lisa Sturtevant, chief economist at Bright MLS, said in an email. “If the conflict with Iran is limited, the housing market could rebound quickly. However, a prolonged conflict could stall home sales activity this spring.”
Affordability remains a challenge for many aspiring homeowners, especially first-time buyers who don’t have equity from an existing home to put toward a new home purchase. Uncertainty over the economy and a job market increasingly showing signs of strain is also keeping many would-be buyers on the sidelines, economists say.
White House statement. It has become increasingly obvious this action was a political hit job," said Inman, a Republican who was appointed in March 2024 during former President Joe Biden's administration. After Inman's firing and the unexpected dismissal in May of Vice Chair Alvin Brown, a Democrat appointed by Biden, the NTSB currently lists only three members on its website. But the U.S. Senate recently confirmed American Airlines executive John DeLeeuw, and he will become the fourth member of the board that
investigates major crashes of planes, trains and automobiles as well as pipeline incidents. The NTSB is currently investigating more than 1,000 cases and will make recommendations on how to prevent similar tragedies when it releases its final reports. "President Trump has made clear that restoring an accountable government workforce is a top priority of his Administration. The NTSB has upheld this standard since we were established in 1967," a spokesman for the agency said in a statement. "The NTSB's workforce upholds the highest professional
standards, is a responsible guardian of public resources, and safeguards the integrity of its investigations." Inman was the lead board member on scene after last year's midair collision near Washington, D.C., that killed 67 people after an airliner collided with a U.S. Army Black Hawk helicopter. He also oversaw the initial investigation of the crash of a UPS cargo plane in Kentucky that killed 15 people in November. Before last year, it was extremely unusual for board members at independent agencies to be dismissed.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, CLAYTON WILLIAMS LOCKHART of Hanna Road, New Providence, Bahamas intend to change my name to CLAYTON LOCKHART WILLIAMS. If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that we, SHANDI TAYLOR (mother) and BURCHINALD GIBSON (father) of Eleuthera, The Bahamas, parents of HAZAIAH BLAKE TAYLOR intend to change our child’s name to HAZAIAH BLAKE GIBSON of Deep Creek Eleuthera, #9130 If there are any objections to this change of name by deed poll, you may write such objection to the Chief Passport Officer, P. O. Box N-3746, Nassau, The Bahamas or at deedpoll@bahamas.gov.bs no later than thirty (30) days after the date of the publication of this notice.
NOTICE
NOTICE
NOTICE
TRITTER & FAMILY INVESTMENTS LTD.
FERREIRA INVESTIMENTOS LTD.
MANUMISSION LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 206937 B
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 201357 B.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 205958 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.
(In Voluntary Liquidation) Articles of Dissolution have been duly registered by the Registrar. The Liquidator is MR. CELSO RICARDO FERREIRA, whose address is Rua Maria Tereza 126, Santa Rita Passa Quatro, CEP: 13670-000, São Paulo, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 10th day of April A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.
Dated this 10th day of March A.D. 2026. TIAGO RITTER DOS SANTOS LIQUIDATOR
Dated this 2nd day of March A.D. 2026.
Alejandro Ubilla Schauricht LIQUIDATOR
(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 10th day of March A.D. 2026. JOSE HELIO GONCALVES RODRIGUES FILHO LIQUIDATOR
PAGE 8, Wednesday, March 11, 2026
THE TRIBUNE
US and Iran dig in and ramp up threats as war rages with no end in sight By JON GAMBRELL, JAMEY KEATEN and SAMY MAGDY Associated Press IRAN’S attacks on oil infrastructure and pledges to choke off a vital waterway left markets on edge Tuesday as the United States promised blistering new strikes. The war entered its 11th day with no end in sight as its effects rippled across the Middle East and beyond. Both sides sharpened their rhetoric as they dug in, with U.S. Defense Secretary Pete Hegseth again promising the most intense strikes yet, while Iran’s leaders ruled out talks and threatened U.S. President Donald Trump. Iran launched new attacks against Israel and Gulf Arab countries, while Israel carried out airstrikes on Iran and Lebanon, where it is battling Hezbollah militants. Residents of Tehran said they had experienced some of the war’s heaviest strikes, with electricity cut to neighborhoods. A woman said she saw a residential building get hit. She and others reached by The Associated Press spoke on condition of anonymity to prevent reprisals. Tens of thousands of Iranians have sought shelter in the countryside. Death toll rises in the Gulf The United Arab Emirates reported two more deaths as nine drones struck the country, and nearly three dozen other drones
and missiles were intercepted. Firefighters battled a blaze after an Iranian drone strike in the industrial city of Ruwais, home to petrochemical plants, officials said. No injuries were reported there. Iranian attacks on the wealthy Gulf country — home to the business and travel hub of Dubai — have killed six people and wounded 122 others since the surprise bombardment of Iran by the U.S. and Israel began on Feb. 28. In Bahrain, authorities said an Iranian attack hit a residential building in the capital, Manama, killing a 29-year-old woman and wounding eight people. Bahrain’s Defense Ministry says it has intercepted over 100 ballistic missiles and 175 drones since the war began. Sirens also sounded in Jerusalem, and sounds of explosions could be heard in Tel Aviv as Israel’s air defenses worked to intercept barrages from Iran. Hezbollah, which began firing on Israel after the start of the war, launched missiles into Israel. US and Iranian leaders trade threats At the Pentagon, Hegseth warned that Tuesday “will be yet again our most intense day of strikes inside Iran: The most fighters, the most bombers, the most strikes, intelligence more refined and better than ever.” He said the last 24 hours had seen the fewest
MOTORBIKES drive past a billboard depicting Iran’s late Supreme Leader Ayatollah Ali Khamenei, center, handing the country’s flag to his son and successor Ayatollah Mojtaba Khamenei, right, as the late revolutionary founder Ayatollah Ruhollah Khomeini stands at left, in a square in downtown Tehran, Iran, Tuesday, March 10, 2026. Photo:Vahid Salemi/AP
Iranian missiles fired in the war. Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said U.S. forces hit more than 5,000 targets. The Pentagon separately said Tuesday that about 140 U.S. service members have been wounded in the war, and the “vast majority” of the injuries were minor, with 108 service members already back on duty. Eight U.S. service members suffered severe injuries, and seven have been killed. In Iran, at least 1,230 people have been killed, while the death toll is at least 397 in Lebanon and 12 in Israel, according to officials. Iran’s leaders have remained defiant after days of heavy strikes targeting the country’s leadership, military, ballistic missiles and disputed nuclear program. Iran’s parliament speaker, Mohammad
Bagher Qalibaf, said on X that Iran was “definitely not looking for a ceasefire.” “We believe that the aggressor should be punched in the mouth so that he learns a lesson so that he will never think of attacking our beloved Iran again,” he said. A top Iranian security official, Ali Larijani, posted a warning to Trump, writing on X that “Even those bigger than you couldn’t eliminate Iran. Be careful not to get eliminated yourself.” Iran has been accused of plotting attempts to kill Trump in the past. Attacks on oil aimed at pressuring the US Iran has repeatedly targeted energy infrastructure with attacks that appear aimed at generating enough global economic pain to pressure the U.S. and Israel to end their strikes. It has
US stocks hold steadier as Wall Street waits for the next signal on how long war with Iran may last By STAN CHOE AP Business Writer THE U.S. stock market held steadier Tuesday as Wall Street waited for the
next signal on when the war with Iran may end. The S&P 500 dipped 0.2%, a day after its latest wild swings caused by extreme moves in the oil
market. The Dow Jones Industrial Average fell 34 points, or 0.1%, and the Nasdaq composite edged higher by less than 0.1%.
Oil prices, meanwhile, remained sharply below their peaks hit on Monday. Such spikes have been rocking financial markets worldwide because of
also fired on Israel and U.S. military bases in the region. The U.S. stock market held steadier Tuesday as Wall Street waited for the next clue on when the war with Iran may end. Oil prices, meanwhile, remained well below their peaks hit on Monday. Such spikes have been rocking financial markets worldwide because of worries that the war could block the global flow of oil and natural gas for a long time. Iran has effectively stopped tankers from using the Strait of Hormuz, through which 20% of the world’s oil is carried. Iran’s paramilitary Revolutionary Guard said it “will not allow the export of even a single liter of oil from the region to the hostile side and its partners until further notice.” Trump said Tuesday in a social media post that the U.S. had “completely destroyed” 10 inactive Iranian mine-laying vessels and there would be “more to follow.” The announcement came after two other social media postings by the president in which he said he has no reports of Iran putting explosive mines in the strategic waterway. Amin Nasser, the president and CEO of Saudi Arabia’s oil giant Aramco,
said tankers were being rerouted to avoid the strait, and that the company’s east-west pipeline would reach its full capacity this week of 7 million barrels a day being brought to the Red Sea port of the Yanbu. “The situation at the Strait of Hormuz is blocking sizable volumes of oil from the whole region,” he said. “If this takes a long time, that will have serious impact on the global economy.”
worries that the war could block the global flow of oil and natural gas for a long time. The price for a barrel of Brent crude, the international standard, settled at $87.80. That's down 11.3% from its settlement price the day before, but much of that drop happened on Monday before the U.S. stock market finished trading. That's why it did not give much of a boost to U.S. stocks Tuesday. Oil prices plunged Monday afternoon from a high of nearly $120 per barrel, its most expensive level since 2022, after President Donald Trump told CBS News he thinks "the war is very complete, pretty much." That raised hopes that the war may end relatively soon, which could allow oil to flow freely again from the Middle East to customers around the world. But Trump's comments later Monday, after the U.S. stock market finished trading, were not as clear. And a spokesperson for Iran's paramilitary Revolutionary Guard said that "Iran will determine when the war ends." Iran launched new attacks Tuesday at Israel and Gulf Arab countries, keeping pressure on the Middle East in a war started by Israel and the United States. That has Wall Street waiting for the next clue about how long the war may last. One point where Trump remained clear was his desire to keep the Strait of Hormuz open. The war has effectively blocked the waterway off Iran's coast, where a fifth of the world's oil sails on a typical day. That's been a central reason for extreme swings in oil prices recently, which have dominated other financial markets and raised worries about the global economy.
"If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far," Trump said in a posting on his social media network late Monday. "The outlook for oil right now is about as binary as it gets," according to Hakan Kaya, senior portfolio manager at Neuberger Berman. "Either the Strait of Hormuz reopens and you see a massive unwind of the risk premium, or it stays shut and we are looking at the largest supply disruption in modern history. There is no middle ground, and that is why putting a number on it is almost irresponsible." The U.S. stock market has a history of bouncing back relatively quickly from military conflicts, as long as oil prices don't stay too high for too long. Uncertainty about whether that may happen this time around has led to stunning swings up and down for markets worldwide, often hour-to-hour. If oil prices do stay high for long, household budgets already stretched by high inflation could break under the pressure. Companies would see their own bills jump for fuel and to stock items on their store shelves or in their data warehouses. It all raises the possibility of a worst-case scenario for the global economy, "stagflation," where growth stagnates and inflation remains high. On Wall Street, Vertex Pharmaceuticals leaped 8.3% for the biggest gain in the S&P 500 after reporting encouraging trends from a trial for its treatment for a life-threatening kind of kidney disease.
Hundreds of thousands displaced by fighting The U.N. refugee agency said Tuesday that more than 667,000 people in Lebanon had registered as displaced — an increase of over 100,000 since a day earlier — and more than 85,000 people from Lebanon, mostly Syrians, had entered neighboring Syria. The British government said the number of commercial flights from the UAE to the U.K. is returning to normal levels, with 32 flights operated from Dubai to Britain on Monday and another 36 scheduled Tuesday. British Airways, however, said it suspended flights to and from Jordan, Bahrain, Qatar, Dubai and Tel Aviv until later this month.
TRADERS work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. Photo:Seth Wenig/AP