03192026 BUSINESS

Thursday, March 19, 2026

Airline ticket tax cut ‘wish’ to offset fuel hike worries

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A SENIOR Bahamian

tourism official yesterday said he “wished” airline ticket taxes could be slashed to offset the impact of fuel cost hikes as Family Island resorts branded the predicted jump in aviation travel prices as “definitely worrisome”.

Kerry Fountain, the Bahama Out Island Promotion Board’s executive director, told Tribune Business that the Board and its members are poised to launch a variety of promotional offers - based on credits and discounts for airline tickets - to try and offset the impact from soaring fuel prices as global oil prices yesterday surged to $110 per barrel due the ongoing Middle East conflict.

Out Islands to launch air fare credit, ‘fly free’ discounts

Resort operator: ‘Will post-Easter softness be like jelly?’

Briland ‘buzzing’: Realtor sees 15% rental volume jump

Food merchants say ‘progress’ on VAT change fear

Optimistic that industry won’t ‘feel so burdened’

Changes ‘where possible’ but VAT relief stands

Few specifics as alterations ‘still in the works’

BY NEIL HARTNELL and Annelia Nixon Tribune Business Reporters

Major Bahamian carriers have already warned that ticket price increases are “inevitable”, with Western Air and Bahamasair warning that their fuel costs are set to increase by 40 percent and 55 percent, respectively, giving them no choice but to pass at least a portion of these increased costs on to both tourists and Bahamian travellers. And Citi, one of the world’s largest financial institutions, yesterday warned oil prices may rise as high as $200 per barrel if the Iran war keeps destroying key energy infrastructure.

that it has eroded The Bahamas’ competitive advantage of US proximity, told this newspaper that the combination of reducing these levies and the Promotion Board discounts would help to counter the effect of soaring fuel and global oil prices.

Mr Fountain, who has long advocated for a reduction in airline ticket taxes on the basis they have pushed up travel costs to such an extent

Restaurant hits ‘Nassau limit’ amid US, DR expansion talks

BY NEIL HARTNELL Tribune Business Editor

nhartnell@tribunemedia.net

A BAHAMIAN restaurant chain has “reached our limit on New Providence” with all future expansion - both nationally and internationally - set to occur through franchising its brand and business model.

Chef Kevin Culmer, founder of Tropical Gyros, one of only two entities successfully financed by investors via the now-defunct ArawakX crowdfunding platform, told

Tribune Business he is in negotiations with US and Dominican Republic groups over the brand’s expansion to those nations in the belief it “can compete” with any rival American restaurant and fast food franchise.

Disclosing that he will have “a better idea” on potential timelines, and whether these talks will result in franchise deals, after Easter, he added that the US negotiations are with a New Orleans-based group interested in launching Tropical Gyros in the

‘Boldy embrace’ Freeport model but remove GBPA

BY NEIL HARTNELL

Tribune Business Editor nhartnell@tribunemedia.net

A LONG-STANDING licensee yesterday argued that The Bahamas should double down by “boldly embracing” the Hawksbill Creek Agreement’s free trade zone model and only remove the Grand Bahama Port Authority (GBPA) as its manager and overseer. Stephen Crane, the luxury goods and jewellery retail entrepreneur long associated with Freeport’s Colombian Emeralds operation, told Tribune Business that The Bahamas - in the wake of the recent $357m Freeport arbitration model - should not seek to “throw the baby out with the bath water” by abandoning the city’s founding treaty and special economixc zone (SEZ) benefits. Instead, in a column on Page 4B in today’s Tribune Business, he argues thatwhile the Hawksbill Creek Agreement should be preserved intact - the GBPA should be replaced by a newly-created “professional management and investment” body charged with responsibility for overseeing Freeport’s governance, development and Customs and Immigration regimes. To satisfy the Government’s concerns about its role in Freeport, Mr Crane

PM and Opposition clash on economy, living costs

FAY SIMMONS

BY

Tribune Business Reporter jsimmons@tribunemedia.net

THE Prime Minister yesterday defended his administration’s international engagement and economic policies in Parliament, pushing back against criticism from the Opposition leader that the Government is failing to address the economic struggles facing ordinary Bahamians.

The exchange between Philip Davis KC and Michael Pintard came during debate on a package

of financial services Bills, where the latter questioned whether the Government’s international advocacy and efforts to attract investment

“Wish we could cut our airline taxes and fees by the same percentage amount that [the airlines] plan to increase their ticket prices. This measure, combined with our $250 air credit and ‘Fly Free From Nassau’ offers would definitely help to counter ticket price increases,” he said in a

southern US with a first potential location being eyed at Houston International Airport.

The restaurant brand presently has seven locations on New Providence, only two of which - the JFK Drive and Carmichael Road sites, the latter near that area’s police station - are actually owned by itself. Mr Culmer told this newspaper that, “at some point”, Tropical Gyros will likely divest itself of all restaurant locations and become a pure franchisor, focusing on marketing, logistics and support for all franchisees while ensuring they stick to its proprietary recipes and ingredients.

Describing himself as “optimistic” over Tropical Gyros’ future growth prospects, he

messaged reply to Tribune Business inquiries.

Mr Fountain, while speaking at the 2023 Eleuthera Business Outlook conference, revealed that ticket taxes for his flight to Nassau from Fort Lauderdale were 13.4 percent higher than the actual ticket cost.

Taxes worth a combined $163.35 accounted for 53 percent of the total ticket price, and Mr Fountain said then:

“I need to address this. I’ve heard it mentioned again yesterday on a sales call by some

nevertheless admitted that 2025 was “a rough year” that saw the restaurant chain close its only Freeport location after incurring a $500,000 loss. Mr Culmer said the funds “pumped in to keep Freeport alive” had driven costs to 99 percent of revenue last year, although this ratio has now dropped back to 87 percent for the 2026 first quarter after the restaurant chain exited the city.

And, with Tropical Gyros focusing on maintaining product quality and consistency, he added that it has responded to the cost of living pressures impacting its customer base by launching its ‘Snack Attack’ option that is some $4 cheaper than its ‘Gyros and fries’ staple.

FOOD merchants yesterday voiced optimism that their Tuesday meeting with the Prime Minister has made “progress” towards striking a balance between giving Bahamians cost of living relief and not leaving the industry “feeling so burdened” over the uncooked food VAT elimination.

Members of the Retail Grocers Association described their meeting with Philip Davis KC and other government officials as “productive” and “promising”, atlhough they, too, offered few specifics on what was discussed or agreed because the details are still being worked out. One, though, signalled that the elimination of VAT on all uncooked foods - which is due to be implemented from April 1, which is now less than two weeks away - will be done in “stages”.

Debra Symonette, Super Value’s president, told Tribune Business in a voice message responding to this newspaper’s inquiries, said: “In a nutshell, it was a very positive meeting. We were able to raise our concerns, which were well received, and efforts will be made to make amendments where possible, which will result in the consumer still getting the break that they have been promised but the grocers will not be left feeling so burdened. So I think we’re making progress.”

Horace Miller-Major, Centreville Food Market’s proprietor, who also at the meeting with the Prime Minister, remained relatively tightlipped on the details and outcome. He said the Government working alongside the industry is “a good sign”, and hinted that eliminating VAT on unprepared foods from April 1 - taking the rate from 5 percent to zero - will be implanted in stages.

“It's still in the works,” Mr Miller-Major said. “I will say that it was a very good meeting. The Prime Minister and his staff were very accommodating, and they're working on some things which are beneficial for all parties involved and all stakeholders.

KERRY FOUNTAIN

Long recovery if SMEs not serious over cyber security

When most small and medium-sized businesses think about cyber security, they think about firewalls, passwords and perhaps even an anti-virus subscription that renews each year. It often feels technical, distant… even optional. Until it is not.

For many entrepreneurs across The Bahamas, cyber security is viewed as a concern for large international banks or global hotel chains. Yet the truth is this: Small and medium-sized enterprises are often the most attractive targets. They hold valuable financial data, customer records, payroll information and supplier details. At the same time, they typically lack dedicated information security teams. That combination is irresistible to cyber criminals.

The visible cost of a cyber attack is easy to grasp. A ransom demand. A frozen system. A website that suddenly goes dark. What is less visible, and often far more damaging, are the hidden costs that follow.

First, there is business interruption. When systems go offline, even for a day, revenue stops. For a retail store, that may mean lost sales. For a financial services firm, it may mean missed transactions. For a tourism operator, it may mean disappointed guests and cancelled bookings. In an economy such as The Bahamas, where many businesses operate on tight margins and seasonal cash flow, even short disruptions can ripple through payroll, supplier payments and loan obligations.

Second, there is reputational damage. Trust is currency in The Bahamas. Our economy depends heavily on relationships, referrals and repeat visitors. If customers believe their credit card details or personal information are not safe, they will simply go elsewhere. In a digital age where news spreads quickly across social media,

KEITH

rebuilding trust can take years, if it happens at all.

Third, there are regulatory and legal consequences. As global data protection standards evolve, businesses operating in or with partners abroad are increasingly expected to meet strict requirements. A breach may trigger reporting obligations, fines or lawsuits. For small and medium-sized enterprises, these costs can be existential. Then there are the operational after shocks. Systems must be rebuilt. Data must be restored. External consultants are brought in. Insurance premiums may rise. Staff morale often suffers as employees grapple with uncertainty and increased scrutiny. The real expense is not just the attack itself, but the long recovery that follows. For The Bahamas, the stakes are even higher. We are a services-driven economy. Financial services, tourism, maritime industries and professional firms form the backbone of national income. Each relies heavily on digital systems and international trust. A pattern of weak cyber security among local businesses does not harm only individual firms. It threatens our broader reputation as a safe and reliable place to do business. Consider our growing push toward digital transformation. Government services are increasingly online. Entrepreneurs are embracing e-commerce. Remote work is more common. These are positive developments that expand opportunity beyond Nassau and into islands such as Abaco, Grand Bahama and Exuma. Yet with greater connectivity comes greater exposure. If cyber security does not advance alongside digital adoption, we risk building our future economy on a fragile foundation. The encouraging news is that strong cyber security does not always require massive budgets. It begins with awareness and leadership. Business owners must treat cyber security as a core governance issue, not merely an information technology expense. Regular staff training, multi factor authentication, secure data back-ups and clear response plans can dramatically reduce risk. Cyber insurance, while not a substitute for good practice, can provide an additional layer of resilience. There is also a role for collaboration. Industry associations, chambers of commerce and public sector agencies can share best practices and promote standards tailored to the Bahamian context. Cyber security should be seen not as a competitive secret, but as a shared responsibility that protects the entire business community. Ultimately, the hidden cost of poor cyber security is not just financial. It is the erosion of confidence. In a small nation where our economic strength depends on global trust and local relationships, that is a price we cannot afford to pay.

If The Bahamas is to remain competitive in an increasingly digital world, cyber security must move from the margins of boardroom discussions to the centre of strategic planning. For small and medium-sized businesses, investing in protection today may well be the difference between resilience and regret tomorrow.

• NB: About Keith Keith Roye II is a highly analytic and solutions-driven professional with extensive experience in software development. He holds a BSc in computer science and his career includes leading and delivering global software projects in various industries in The Bahamas and the US.

‘Damaged confidence’ fear over latest sexual assault

By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

A BAHAMIAN water sports operator yesterday renewed calls for better enforcement of laws and regulations governing the industry while warning that the latest alleged sexual assault on a visitor threatens to “damage confidence” in the destination and undermine its competitiveness.

Astra Charlton, director of business development at My Own Water Sports, backed the call by the US Ambassador to The Bahamas, Herschel Walker, for this nation to urgently implement safety reforms for the jet ski industry. She argued that such incidents are not isolated to the jet ski sector, and will eventually create, promote and

reinforce the perception that The Bahamas is “an unsafe destination” if left unchecked.

“In a highly competitive tourism market, visitors have many choices, and matters such as this damage confidence in the destination as a whole,” Ms Charlton added. “At My Own Water Sports, we have long advocated for stronger oversight and preventative action.

“We have been in contact with law enforcement on these issues, participated in a symposium led by ASP Kendra Whyms of the domestic violence stand alone unit, and had constructive discussions with Superintendent Ian Rodgers regarding concerns specific to our operation. We are also aware of the efforts being made by the Port Department, the

Royal Bahamas Police Force and the Royal Bahamas Defence Force to strengthen safety standards within the sector.

“However, once the headlines fade, too often the proposals discussed do not materialise into sustained, visible action,” Ms Charlton said. “That is the real concern. While there are calls for reform, we continue to urge the consistent enforcement of the regulations already in place.

“We have to be more proactive. We need to prevent these situations before they ever reach the point where police intervention becomes necessary. If that requires a stronger police presence on the beaches, then so be it.

“What we cannot allow is for an entire sector to be eradicated because of the actions of a few. The

‘We’ll hold Bahamasair

word’ over

BY ANNELIA NIXON Tribune Business Reporter

A HEALTHCARE professional yesterday pledged to hold Bahamasair to its word that ticket prices will be adjusted accordingly once aviation fuel prices ease from the current Middle East conflict.

Patricia Cleare, proprietor of Screws & Fasteners World, and a volunteer in a collaboration between Adventist-Laymen’s Services & Industries (ASI) and Adventist Health Professional Services, said she is is “of the opinion once prices go up, they don't ever come down” even though the national flag carrier’s managing director, Tracy Cooper, promised the fuel surcharge will be removed once the present 55 percent aviation fuel spike eases and costs normalise.

The collaboration between ASI and Adventist Health Professional Services, according to Ms Cleare, brings together nurses and health professionals who offer free services, health expos and health retreats on the Family Islands. She added that 20-plus health professionals usually take part, paying for their own airfare, accommodations, meals and other necessities, so increased airline tickets - for Bahamasair in particular since it is the “preferred carrier” - will result in a “strain on people's pockets”.

“Bahamasair said they will adjust [prices] when everything returns to normal,” Ms Cleare said.

“But I am of the opinion

Government owes a duty not only to keep its guests safe, but also to protect legitimate, professional Bahamian businesses and help shape this sector into a safe, viable tourism offering. With urgency, co-ordination and enforcement, that can still be achieved.”

Having been vocal in the past, warning of the “demonisation” of the water sports industry, which could threaten the livelihood of law-abiding Bahamians employed in it, Ms Charlton is continuing her fight.

“There have been notable efforts by the Port Department and law enforcement to address unregulated activity, and progress has been made,” she said. “However, the presence of individuals operating outside of the established framework remains a concern.

to

ticket pricing

once prices go up, they don't ever come down. So, I am just hoping that they stick to their word when they said, charge for the fuel cost, and when the fuel drops it will be adjusted to drop the price on the tickets.

“I usually do a lot of groups on Bahamasair. I have a group coming in the next two weeks. But thank God all their tickets are paid for already. But I have another group in July, and then I have to do another group in May. And Bahamasair is the preferred carrier. So it's going to put up the prices for that, because I do a lot of health groups.

“So sometimes we'd have doctors who come in. One time we had a urologist, and in Acklins. We even had a veterinarian in Cat Island. And then we have other doctors who come in, nurses, to check your pressure and everything. And we collaborate also with the nurses on the island as well,” Ms Cleare said.

“So that's what we do. So the thing is the prices for Bahamasair will affect the ticket costs, and that is what I'm worried about. But my main thing is if

Tracy Cooper says that will be adjusted back once fuel costs drop, we could try and hold him at his word. But a lot of times I've seen once price go up, they don't ever go down.”

“We joined collaboratively to actually offer these services to the Family Islands, and it just puts a strain on people's pocket. But a lot of us volunteer, and they're willing to go beyond to be able to bring these health services to the Family Islands,” she added.

“This whole group, which is some 20-plus people coming over, Bahamasair don't really give discounts like that. This next group, which is on April 1, we have about 25 in total, and I'm glad we've already locked that in to get some savings because, right now, the other group that I have to book, which is San Salvador, the price is going up on that one because I haven't done that as yet.”

Fortunately, Ms Cleare believes the rise in ticket prices will not deter members of the group from visiting the Family Islands.

Gina Luree, owner of Cultureware, a business that produces lines of designed

“The issue is less about the number and more about the impact. Even a single operator acting outside of the rules can have serious consequences for visitor safety and the reputation of The Bahamas as a tourist destination. This is why consistent, on-the-ground enforcement is so critical to ensuring that only compliant operators engage with guests.”

Ms Charlton said My Own Water Sports “fully adhere to all laws, established protocols, and the industry’s code of conduct.

“Accountability is embedded in our operations,” she added. “We operate a fully digital platform, allowing most customers to book before arriving in The Bahamas. This system fosters transparency, as guest experiences are documented and publicly accessible, eliminating any chance to obscure our service or conduct. We take this responsibility seriously, addressing feedback directly and using it to continually improve our standards.

“In addition, we offer complimentary round-trip

that embody Bahamian cultures, is monitoring the air fare prices.

Given that packaging and other pieces used to produce her products are imported, and she ships her end items to stores in the Family Islands, she said she may incur more costs that have to be passed on.

Ms Luree added that stores which purchase from her pay for the shipping, relieving her of that

financial responsibility, and she just recently secured tax exemptions on her raw materials.

“I am sure that they [stores] will pass whatever extra cost… they'll put it in the cost of the product, and so it still passes on to the consumer,” Ms Luree said. “So as far as it affecting me and them not getting stuff, I don't think it would because, like I say, they're not going to take on that

transportation for our guests, ensuring they are safely transported to and from our location. This is another measure we have implemented to maintain oversight of the full customer experience.

“We also remain open and actively engaged in industry discussions, working alongside stakeholders and law enforcement to stay at the forefront of best practices and continue fostering trust within our community.”

Mr Walker, in a statement on the latest sexual assault, said: “As I talk of our partner, I am truly distressed to hear of yet another sexual assault linked to the jet ski industry in The Bahamas.

“Our prayers are with the victim. Without regular, consistent enforcement patrols on the beaches, and increased professionalisation of the industry, the situation will not change. We look to all stakeholders agencies to implement without further delay the multi-agency Jet Ski Task Force’s comprehensive plan for safety reform.”

course. They're going to pass that cost on to their customers. And so they just have to raise the price of their items. That's all.

“It impacts me in a way because the cost to do business is going to go up. So whatever the cost is, I have to add that on to my products. But for the most part, right now, I've just secured my exemption and so on. My raw materials I get duty free. It'll come in by boat or plane, and then my broker will clear it. Of course, I still have to pay. I have to pay the extra fuel charge because the freight.

“But then I save on duty. So depending on how high the cost is, that will determine whether I go up or it zeros out. Now I'm saving in regard to having my exemption for the raw materials. So we have to see how it goes. Because if you keep going up, then I have to go up. But for right now, I don't see me having to do that unless it really escalates.”

FOR LEASE

ceramics

BAHAMASAIR JET

‘Embrace’ Freeport experiment rather than abandon the model

By STEPHEN CRANE

Concerned Grand Bahama stakeholder

The Government of The Bahamas stands at an important crossroads. With a general election expected soon, the future of Grand Bahama will inevitably become a central national discussion. For decades the island has struggled to regain the economic dynamism it once promised. Yet the very structure that once made Grand Bahama successful may also provide the solution to its current challenges.

In 1955, the Hawksbill Creek Agreement created something unique in the Caribbean: A Special Economic Zone that allowed the development of Freeport under the administration of the Grand Bahama Port Authority (GBPA). At the time, the arrangement was visionary. It streamlined development approvals, Customs processes and Immigration procedures, enabling rapid industrial investment and the creation of a modern city where none previously existed. Unfortunately, the benefits of the economic growth were not widely shared.

Over the decades, however, the effectiveness of that structure has eroded.

How to

Authorities originally granted under the Hawksbill Creek Agreement have gradually been reduced or fragmented. At the same time, the ownership and governance of the GBPA itself has become increasingly complex. Today, the entity is controlled by heirs of the original developers, with ownership split between two families and held through trusts with numerous beneficiaries. This structure has made decisive leadership difficult. While the Port Authority played an historic role in building Freeport, the challenges facing Grand Bahama today - global competition for investment, climate resilience, modern digital

infrastructure and inclusive economic developmentrequire a scale of strategic capability and investment that the current structure has struggled to deliver.

The natural reaction may be for the Government to assume greater direct control. Yet this approach carries its own risks. The parts of Grand Bahama outside Freeport have many challenges and already require significant public investment and administrative attention. Expanding government responsibility into additional areas would likely stretch already limited resources and not solve the island’s issues.

But there is another path.

Rather than dismantling Grand Bahama’s special status, The Bahamas could boldly embrace it. The original formula created opportunity. Rather than dismantle it, the formula can be modernised to ensure that opportunity fully benefits Bahamians. Grand Bahama could become a national test kitchen for modern governance.

Instead of the existing structure, the Government could reinstate many of the streamlined authorities originally envisioned under the Hawksbill Creek Agreement - but grant them to a new professional management and investment consortium selected under strict national criteria.

Importantly, this would not mean relinquishing sovereignty. On the contrary, the Government could strengthen oversight by clearly defining the standards that must be met in order to exercise these delegated powers.

These standards could include measurable requirements in areas such as:

* Immigration processing and residency programmes that support targeted economic sectors

* Customs and trade facilitation that accelerate investment while protecting national security

* Education and workforce development aligned with emerging industries

* Modern healthcare and social services

* Environmental resilience and security

monitor airport security lines at US airports while TSA officers go without pay

* Inclusive economic development benefiting Bahamians across the island Approval to operate such a framework would depend on meeting these national benchmarks.

Stephen Crane, the luxury goods and jewellery retail entrepreneur long associated with Freeport’s Colombian Emeralds operation, is calling on The Bahamas to ‘double down’ on the city’s free trade model - but with a different manager than the Grand Bahama Port Authority (GBPA)

At the same time, Grand Bahama could become a pilot environment for digitised government processes. Modern digital systems can dramatically reduce administrative costs while speeding up approvals for investment, permitting and trade.

Long-term investors and development groups have already expressed interest in supporting precisely this kind of streamlined technology-enabled governance model. By implementing such systems in Grand Bahama first, The Bahamas could test reforms in a controlled environment before scaling successful solutions nationwide.

In effect, Grand Bahama could once again become what it was originally intended to be: A laboratory for economic innovation.

If successful, the lessons learned could strengthen governance across the entire country, not to mention creating much needed opportunities for Bahamian businesses and workers.

This approach would transform the narrative surrounding Grand Bahama. Instead of being seen as a long-standing economic challenge, the island could become the engine that drives the next generation of Bahamian prosperity.

At a moment when the nation is debating its future direction, such a vision offers something rare in public policy: The opportunity to turn a problem into a strategic advantage. Grand Bahama was once a bold experiment. With brave long-term leadership, it can be again - this time for the benefit of the entire Bahamas.

By RIO YAMAT AP Airlines and Travel Writer

SCENES of airport security lines spilling out of terminals may be adding a new layer of stress for travelers as the busy spring break season unfolds.

Some airports have seen wait times stretch well past an hour. In recent days, passengers reported waiting up to two hours in line at Atlanta's Hartsfield-Jackson International Airport, while people were advised to get to the airports in New Orleans and Austin, Texas, as much as three hours before their flights.

Many other airports reported wait times in line with normal conditions, making it difficult for travelers — especially those with upcoming trips or those accustomed to arriving at

the last minute — to know what to expect. The uneven delays are being driven by a mix of factors, including a partial government shutdown that has strained Transportation Security Administration staffing, along with heavy spring break crowds. The result is a patchwork of conditions that can shift quickly, even within the same airport. That unpredictability makes checking TSA wait times before a scheduled departure a key step for airline customers right now.

TSA is not actively managing its sites during the shutdown, meaning the wait times listed on the MyTSA mobile app may not be accurate. Experts say the estimated wait times listed on third-party websites tracking TSA lines may also be outdated during the shutdown if they rely on publicly available data.

"Luckily, major airports tend to list those checkpoint times, terminal by terminal.

I can't think of a major one that doesn't," said Eric Rosen, director of travel content for The Points Guy, a travel and finance advice website.

The most reliable way to monitor wait times right now is by checking an airport's websites and social media accounts, Rosen said, including the social platform X, where many airports have been sharing timely updates and guidance.

Still, travelers should keep in mind that airport conditions can change quickly, meaning any information might not reflect what is happening at a specific time.

Experts say it's best to check airport conditions early and often. Waiting until a few hours before a flight can leave little to no margin for delays — for example, if the drive to the airport takes 45 minutes for a flight leaving in three hours.

PM: Financial package to boost Bahamas’ business

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

LAWS to strengthen compliance, supporting digital asset innovation and expanding wealth management tools will bring new investors and business to The Bahamas, the Prime Minister asserted yesterday.

Philip Davis KC told the House of Assembly that the three-strong package of financial services Bills forms part of a broader strategy to reinforce The Bahamas’ competitiveness as an international financial centre (IFC).

He added that the measures strengthen transparency standards, introduce a regulatory framework for decentralised autonomous organisations (DAOs) and provide new legal structures for wealth and estate planning within the jurisdiction.

The Prime Minister said the objective is to position The Bahamas to compete in a rapidly-evolving global financial services landscape. “When the financial services industry grows, so do opportunities,” said Mr Davis. “This growth translates to new career paths, better-paying jobs and a more competitive presence in the global financial services industry.” He added that the Automatic Exchange of Financial Account Information Bill will strengthen The Bahamas’ compliance with the international Common Reporting Standard (CRS) framework.

Mr Davis said the amendment clarifies the reporting obligations of financial institutions and introduces new requirements aimed at strengthening oversight and transparency. Under the changes, financial institutions will be required to submit

US national debt surges past $39 trillion just weeks into war in Iran

By FATIMA HUSSEIN Associated Press

THE national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran. The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of which Donald Trump promised to do as both a candidate and as president.

The Government Accountability Office outlines some of the impact of rising government debt on Americans — including higher borrowing costs for things like mortgages and cars, lower wages from businesses having less money available to invest, and more expensive goods and services. Advocates for a balanced budget also warn that the long-term trend of borrowing more and paying more in interest will force Americans to face tougher fiscal tradeoffs ahead.

“nil returns” even when they have no reportable accounts. The Bill also introduces clearer registration requirements for financial institutions and strengthens regulators’ ability to conduct compliance reviews.

The legislation additionally creates a CRS steering committee, bringing together key regulatory agencies to oversee the operation of the reporting regime and provide advisory co-ordination.

Mr Davis said the reforms are necessary to protect The Bahamas’ international reputation as a compliant and well-regulated financial centre. “In this sector, reputation is everything,” said Mr Davis. “This administration understands this fact, and we have done all we can to ensure that our reputation remains stellar.”

A second measure, the Decentralised Autonomous Organisations Bill, seeks to establish a legal

Michael Peterson, chair and CEO of the nonprofit Peter G. Peterson Foundation, created to raise awareness of America's long-term fiscal challenges, said in a statement that "we must recognize this alarming rate of growth and the significant financial burden we are putting on the next generation." The trajectory of the rising costs is also a concern. The federal debt has surged under both Republican and Democratic presidents, most recently fueled by wars, large-scale pandemic spending and tax cuts. The U.S. national debt hit $38 trillion five months ago — and $37 trillion two months before that.

"At the current growth rate, we will hit a staggering $40 trillion in national debt before this fall's elections," Peterson said. "Borrowing

framework allowing DAOs to register and operate within The Bahamas. DAOs are blockchain-based entities that operate through decentralised decision-making processes rather than traditional corporate management structures.

Mr Davis said such organisations already manage billions of dollars in digital assets globally, but often face uncertainty in many jurisdictions due to the lack of clear legal recognition. He said the Bill will allow DAOs to formally register with the Securities Commission and operate under defined governance and transparency requirements.

Entities registering as DAOs will be required to submit governance documentation explaining their decision-making processes, disclose their governance tokens and voting structures, and undergo periodic smart-contract audits. The legislation will also require

trillion after trillion at this rapid pace with no plan in place is the definition of unsustainable." White House economic adviser Kevin Hassett estimated on Sunday that the war in Iran had cost the U.S. more than $12 billion so far. It is unclear when the war will end. Representatives from the White House and Treasury Department did not immediately respond to an Associated Press request for comment on the debt milestone Wednesday.

DAOs to appoint a responsible individual within The Bahamas to act as a point of accountability.

Mr Davis said establishing such a framework could position The Bahamas among the few jurisdictions worldwide offering a sophisticated regulatory environment for these digital organisations. “With this Bill, the billions currently being managed by DAOs will have a potential home right here in The Bahamas,” said Mr Davis.

The third measure, the Usufruct Interest Bill, introduces a legal concept commonly used in civil law jurisdictions but rarely available within common law systems such as The Bahamas.

A usufruct allows the legal owner of an asset to grant another person the right to use that property, and receive its economic benefits for a defined period, without transferring ownership. The arrangement is often used in estate and wealth-planning strategies.

Mr Davis said introducing the concept expands the range of structuring tools available to wealth managers and investors operating in The Bahamas, potentially making the jurisdiction more attractive for international estate planning and wealth-management activity.

He said the three measures collectively reflect a broader strategy to ensure the Bahamas remains competitive as global financial markets evolve. “We are focused on bringing in new investors and wealth into our system,” said Mr Davis. “We want to see Bahamian lawyers structuring these transactions, Bahamian accountants advising global clients, and Bahamian compliance professionals and financial analysts driving innovation within our jurisdiction.”

PHILIP DAVIS KC

DIRECTOR of the White House National Economic Council Kevin Hassett stands before a television interview of the White House, Friday, March 6, 2026, in Washington.

Photo:Alex Brandon/AP

Aviation operators meet with industry regulators

BAHAMIAN airline operators and pilots have met with industry regulators to discuss issues including fees levied upon the sector as well as safety and security concerns.

The Bahamas Department of Aviation (DOA), in a statement, said it facilitated a productive meeting with the Bahamas Airline

Owners and Pilots Association (BAOPA) and other industry stakeholders including the Civil Aviation Authority Bahamas (CAAB), Airport Authority (AA) and Nassau Airport Development Company (NAD).

“Domestic airline owners and pilots deserve a seat around the table

where their voices could be amplified, their concerns addressed, their value appreciated and our commitment to them affirmed”, said Dr Kenneth Romer, the Government’s director of aviation.

The talks focused on developing a culture of communication and collaboration; a review of

Nassau Cruise Port teaming with BNT on sustainable tourism push

NASSAU Cruise Port (NCP) and the Bahamas National Trust (BNT) have unveiled a three-year strategic partnership aimed at promoting environmental stewardship, community engagement and advancing

sustainable tourism in The Bahamas.

Through the agreement, Nassau Cruise Port said it

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L TO R: Captain Sean

ley, BAOPA; Jan

vice-president,

BAOPA; Chequita Johnson, director-general, CAAB; Captain Drexel Munroe,

infrastructure fees; escalating passenger costs and their impact on operations; maintenance facility access; the Family Islands airport improvement initiative; airport fees; safety and security; ongoing support by the Government for domestic private operators; industry training and awareness; jurisdiction-specific

will join the BNT Corporate Partnership Programme as a steward level partner, pledging $75,000 over three years to support conservation and public awareness initiatives that highlight the importance of protecting the nation’s natural resources.

A major focus will be the Blue Green Bahamas: Visitor Awareness Initiative, where Nassau Cruise Port will serve as the founding corporate partner. The initiative is designed to educate cruise visitors and residents about the value of The Bahamas’ unique ecosystems and the role individuals can play in protecting them.

regulations; and policy interventions and active participation in the development of the first-ever Domestic Airlift Strategic Plan 2040.

“The Bahamas Aircraft Owners and Pilots Association appreciated the opportunity to meet with key stakeholders and were satisfied with the tone of the meeting and the seeming commitment of the stakeholders present to address the concerns presented. We especially look forward to future meetings to discuss further the effects that current and planned changes will have on Bahamian aviators and aviation here in

As part of the programme, educational content - including shortform environmental videos, eco-awareness signage with QR-linked information, and digital story-telling campaigns - will be featured throughout the cruise port and across digital platforms.

Staff will also receive talking points to help engage visitors in conversations about environmental responsibility while exploring The Bahamas.

“Our partnership with the Bahamas National Trust reflects our commitment to sustainable tourism and responsible destination stewardship,” said Mike

the Bahamas”, said Captain Mornel Brown, the BAOPA president.

Besides participating in quarterly stakeholder meetings, all sides gave a commitment to engage in ongoing dialogue and intervening measures to address matters arising between stakeholders.

The Department of Aviation said that strengthening strategic partnerships with industry stakeholders is one of the key elements in the National Aviation Strategic Plan, which was formally launched on July 1, 2023.

Maura, chief executove and director at the Nassau Cruise Port. “As the gateway for millions of visitors each year, we have an important role to play in helping people understand, appreciate and maintain the natural beauty of The Bahamas.”

The partnership will also support the BNT’s annual Wine & Art Festival, where Nassau Cruise Port participated as a silver sponsor in February. The festival attracts more than 1,500 attendees each year, bringing together local and international visitors, corporate leaders and members of the creative community to celebrate art, culture and conservation.

"We are building a strong community of ambassadors for the Bahamas National Trust through our members, donors, corporate partners and volunteers who support the critical work of managing our national park system,” said Lakeisha Anderson-Rolle, BNT executive director. “We are grateful for this partnership with Nassau Cruise Port and hope it inspires others to join us as we continue expanding support for conservation across The Bahamas.”

Long-

Knowles,

NAD’; Captain Mornel Brown, president,

secretary-genera, BAOPA; Dr Kenneth Romer, director of aviation and deputy director-general of tourism; Paul Bevans, chairman, Airport Authority; Peter Rutherford, managing director, Airport Authority; Milo Butle, deputy director, Department of Aviation; and Davon Munnings, chief financial officer, Airport Authority

Photo:Deptartment of Aviation

NASSAU CRUISE PORT (NCP)

Resorts ready for ‘holding pattern’ as aviation fuel already leaps 10-15%

of the hotel partners, and that is the cost of getting to this island of Eleuthera. Some are paying $1,200 or whatever it is.

“The other day I was flying from Fort Lauderdale to Nassau. My ticket cost $144, but the taxes were $163.35. That’s more than the cost of the ticket. We always talk about, when we are writing a business plan for The Bahamas, about our proximity but what we have failed to do is translate or convert that proximity into affordability....

“The point of the matter is that because of the high cost of getting here the number one market for The Bahamas is Florida; Miami and Fort Lauderdale. You could jump on a Carnival cruise from Miami, Fort Lauderdale for $400. That’s almost equal to the cost of an airline ticket. Florida is our home court. We’ve given up that advantage. What are we doing? What is on the drawing board to reduce the high cost of ticket taxes to The Bahamas.”

But, given that airline ticket taxes remain such a valuable revenue source for a cash-strapped Public Treasury, the Government is unlikely to agree to any cut or reduction - at least in the near-term.

Meanwhile, Family Island resort operators yesterday said that, while they remain “bullish” on the product offering and quality of vacation experience offered to visitors venturing beyond Nassau, their businesses do not the affordability and ease of travel to reach their respective destinations made any more difficult than it is currently.

Joel Friese, principal at Long Island’s Stella Maris resort, told Tribune Business that while the full effects of global oil price inflation will take time to work their way through the supply chain, aviation gas has already risen by 80 cents per gallon - the equivalent of a 10-15 percent rise - since the Iran war broke out. While a $10$15 jump in airline ticket prices is unlikely to impact travel demand and affordability, he warned that a “substantial increase” of $50 or more probably would.

The Stella Maris chief, who also operates an aviation charter business, said of increased fuel prices: “It’s definitely a factor. Obviously we won’t know the effects of it for a while, but we are in the charter business doing flights, so we will have to raise our prices soon. We’re not sure of the amount of the increase so far; it takes time for the supply chain to get through, so it will be interesting to see how much our costs increase by and how much we have to increase prices.

“Presently, the cost has gone up by 80 cents per gallon, which is around 10-15 percent. That’s for aviation gas or AvGas. That is slow to jump up compared to jet fuel but it will come. There’s no doubt prices will see a substantial hike in the coming weeks. If it adds $10$15 to a ticket price, I don’t see it as a major dampener to affect people travelling, but if it’s a substantial increase - $50 or more - that may affect travel.

“It will affect all of us in The Bahamas. How much remains to be seen, but it’s definitely a little worrisome. Most people book months, or even a few weeks, in advance. It will take a few weeks to notice how it affects people travelling.”

Mr Friese said The Bahamas can take some comfort from its proximity to the US, which generates 90 percent of its tourism market, and location well away from the Middle East conflict zone. Shorter travel time and lower ticket costs, when compared to more far-flung destinations, as well as the safety factor may still allow The Bahamas to maintain its attraction as a destination and competitive advantage.

“On the other side it may pivot people to travel to The Bahamas rather than Europe in the coming months if they feel this is a safer place to go to right now,” he added. “It’s hard to predict how people will react.

“It’s not only going to be fuel costs. We’ll see all costs - freight, shipping and foodgoing up, and food is already expensive in The Bahamas. That’s the next step to worry. Food and beverage costs for restaurants and hotels are a big factor.” However, some

NOTICE is hereby given that ADRIAN ASHER LAWRENCE of #91 Sugar Apple Street, Pinewood 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

prominent Bahamas tourist destinations have barely noticed any fall-out from the economic ripple effects of the Middle East conflict.

James Malcolm, a Briland-based realtor for the Bahamas Property Group, told Tribune Business that Harbour Island is “buzzing” with bookings and inquiries for the rental properties that he manages up 15 percent compared to the same time in 2025.

“Most of the visitors have booked six to eight months ago, so it is what it is when they get here,” he said. “We’re having one of the best March’s that we’ve had in the last few years. I think numbers are up for everybody. For March, the rental properties that I manage, I’m probably up about 15 percent from last year on inquiries and bookings.

“Harbour Island has a very, very high rate of repeat bookings. Clients hold villas for March, and want to come back for summer and

next year. March is such a busy time. The island has been quite busy, the marinas look busy. No complaints from my perspective, and at the moment no effects from what’s happening in the rest of the world. We’ve got a good Spring and summer. They look to be really good.”

Jeff Birch, principal at Small Hope Bay Lodge in Andros, told Tribune Business that Family Island tourism and resorts cannot afford for airlift access to become more expensive and difficult than it currently is. “I would hope they will find a way not to increase their fees because they are already quite reasonable,” he said. “Travel into the Out Islands has been a difficult, difficult task for many, many years.

“It would be unfortunate if that has to happen, but the world is a little bit out of control right now. Let’s hope it’s a temporary issue and not a permanent one.

March and April are gen-

erally busier months for the Out Islands in general, so it’s hard to speak to the effects of this. After March and April, it gets sort of soft again. Whether that softness is going to be like jelly, I don’t know.”

Mr Birch described the Family Islands as “an extremely unique product” that travellers will be hardpressed to find elsewhere, and added: “I’m hoping that keeps us going. People are still wanting to get away. I think that, in The Bahamas, we still have a wonderful country and people. We’re going to go into a bit of a holding pattern until things settle. That’s my hope.”

The Bahama Out Island Promotion Board is offering a $250 air fare credit to US and Canada residents who book via its member hotels “and all eligible North American-based and Bahamas-based tour operators and” travel agents. To qualify, they have to pre-book “an air-inclusive vacation package for four consecutive nights or longer at a participating” member hotel for single or double occupancy.

The offer will be live and accessible for bookings between April 20 and May 18, 2026, which cover the travel period between April 21 and October 31, 2026. And, in addition, the Promotion Board is also offering a ‘Two Fly Free from Nassau’ to travellers from the US, Canada and Argentina, Brazil, Colombia and Mexico to ten different Family Islands. This can be booked via member hotels directly; Majestic Holidays; iBahamaGo.com; BestStay Travels. The offer includes one free airline ticket from Nassau for pre-booked air-inclusive vacation packages for hotel stays of four to six consecutive nights at a Promotion Board (BOIPB) member hotel. And two free airline tickets from Nassau are being offered for pre-booked air-inclusive vacation packages for hotel stays of seven consecutive nights or more at a participating member hotel.

The booking window is from April 20 to May 18, 2026, covering travel between April 21 and October 31, 2026.

The Bahamas Pharmacy Council (BPC)

P. O. Box N-4460

Nassau, N. P., The Bahamas

REGISTERS – as of March 5, 2026

REGISTER OF PHARMACISTS

The following is a list of Pharmacists registered under section 9 (3) (4) (a) and licenced under section 12 (1) of the Pharmacy Act, 2009 for the period ending December 31st, 2026.

REGISTER OF PHARMACY TECHNICIANS

The following is a list of Pharmacy Technicians registered under section 9 (3) (4) (b) and licenced under section 12 (1) of the Pharmacy Act, 2009 for the period ending December 31st, 2026.

“The franchise expansion is going pretty well. We’re up to seven units now,” Mr Culmer told Tribune Business. “But Freeport we had to close down. We ended up losing $500,000 on the Freeport operation. It didn’t turn out the way we had hoped it would turn out in Freeport, but you never know until you try.

“We moved to Port Lucaya thinking the change of location would help, but when Carnival’s Celebration Key opened up everything at Port Lucaya came to a screeching halt. We thought then it would go well with the hotel [Grand Lucayan], but it didn’t materialise. I hope for Grand Bahama’s sake that comes to fruition.”

Besides the two locations it owns and operates, Tropical Gyros has five other outlets operated by franchisees in New Providence, including sites at Prince Charles Drive, Palmdale, Delaporte and another on Carmichael Road. However, Mr Culmer described 2025 as a struggle due to the drain imposed on the overall business by having to subsidise Freeport.

“We had to make some adjustments. Last year was a rough year in Freeport,” he admitted. “We had to implement some cost-cutting measures and things to keep the business moving forward. And we’re a little uncertain about what will happen to the cost of food because of what’s happening in the Middle East. We’re holding on, and trying to maintain the quality of the product…

“It was a challenging year in 2025. We operated [with costs] at 99 percent of revenues because of the subsidy for Freeport. We had to subsidise Freeport from Nassau’s operations. If we took out the subsidy we had to put into Freeport, last year would have been comparable with 2024 as far as revenues and profitability, but we had to pump so much money into keeping Freeport sustainable, alive and operational.”

Tropical Gyros’ Grand Bahama exit has already positively impacted its financials. “So far we’re on pace at our two locations and are up to 87 percent of revenue,” Mr Culmer said. “It looks like we will end up at 87 percent of revenue for the first quarter and, if we stay on this track, we will feel good about that having introduced some cost-cutting measures to offset all those losses last year.”

As for the restaurant chain’s immediate future, Mr

Culmer said he had decided expansion exclusively via franchising will be the business model. “I’m still very optimistic about the growth of the business,” he told Tribune Business. “We do have some people looking at us to bring the brand over to the US. We do have people looking to bring the brand over to the Dominican Republic. There are some talks we are having there. We are looking logistically at how to support these markets.

“We have a group out of New Orleans that are looking, and we’re in discussions with right now, over the rights for the southern US and looking at Houston airport as the first location. We’ll have a better idea of timeline after Easter. I know they are very eager to get something going by the summer. This group is very involved with airport kiosks, and providing a restaurant in airports, this brand will be something else under the hood.

“We feel we have an international brand that can compete with any US franchise,” Mr Culmer added. “Getting a group to bring us over there is definitely within our wheel house. We don’t have the capital to do it, so it’s better to put it in the hands of a group that can do it. Let them build out the capital infrastructure and expand. We just provide the logistical support with the actual product.

“That’s the best approach to it at this time given the uncertainty of the market and what it would cost us to set up in a foreign country from scratch. For expansion for Tropical Gyros here, we’ve reached our limit here in New Providence. There is the possibility of going to one of the resorts if that opens up, but that will be a franchise. We’re not looking to open any more corporate locations; anything from here will be franchised.”

Mr Culmer said Tropical Gyros will likely seek to turn the two New Providence restaurants into franchises, allowing it to instead focus on brand marketing, quality control and supporting its restaurant partners. He added that interest has already been shown by potential franchise partners in Bimini and Abaco, and Tropical Gyros would also be open to expanding to Eleuthera and Exuma if the right investor - native to those islands - can be found.

“I think we’re cautiously optimistic about the future,” Mr Culmer said. “We’ve had tremendous growth since our launch at the World Relays in April 2015. The public has embraced Tropical Gyros, and we’ll continue to build off of that. The focus going forward is to maintain the integrity, quality and standard of the product, and to push the brand into island markets and international markets through franchising. That’s the key.”

The Bahamas Pharmacy Council (BPC)

P. O. Box N-4460

Nassau, N. P., The Bahamas

REGISTERS – as of March 5, 2026

REGISTER OF PHARMACY INTERNS

The following is a list of Pharmacy Interns licenced under section 12(2) of the Pharmacy Act, 2009 for the period ending December 31st, 2026.

REGISTER OF PHARMACIES

The following is a list of Pharmacies registered under section 6 (1) of the Pharmacy Act, 2009 for the period ending December 31st, 2026.

REGISTER OF WHOLESALE DISTRIBUTORS OF DRUGS

The following is a list of Wholesale Distributors of Drugs registered under section 34 (1) and licenced under section 36 (1) of the Pharmacy Act, 2009 for the period ending December 31st, 2026.

These Registers are updated periodically at http://www.pharmacycouncil.net/new/site

Registrar Bahamas Pharmacy Council

Make Freeport ‘laboratory for economic innovation’

REFORM - from page B1

said its oversight and “sovereignty” would be strengthened - not diminished - under his proposal because it would set the standards and rules that this new management body will have to abide by and implement.

“The original agreement was very advanced for its time,” Mr Crane told this newspaper of the 1955 Hawksbill Creek version. “Instead of abandoning the special economic zone modek, it should be extended for the entire island and not just part of the island. If they want to rename it, they can call it the Special Government Economic Development Zone.”

He acknowledged that the original Hawksbill Creek Agreement, and its successors, specifically name the GBPA as a party to the various rights it bestows, and conceded that replacing

Freeport’s quasi-governmental authority is “very touchy”, but asserted that “it doesn’t make sense” for it to retain its current role and duties.

“The only value in Freeport is it’s real estate, location and the harbour,” Mr Crane added. “There’s a bit of throw the baby out with the bath water here but, in reality, it needs to be better managed.” He argued that the Government should adopt the position of not taking over Freeport’s management and administration by itself but, instead, “improving the governance by making it be administererd more efficiently and implemention of the standards that the Government wishes”.

“There has to be a wellfunded, long-term approach to development,” Mr Crane said. “There are investors interested in doing this provided the Government supports it. But the status quo, the bickering between the Government and the

PM rejects Barbados fuel VAT ‘cap’ comparisons

- from page B1

were matched by policies that address rising living costs at home.

Mr Davis rejected that suggestion, arguing that the Government’s international engagement is directly connected to protecting the country’s economic interests.

“He suggests, when talking about the role that I may be playing in the international arena versus what I play here in The Bahamas, that I should come to realise that they are interconnected,” said Mr Davis.

“If I cannot pick up the phone and call 10 Downing Street and speak to the UK prime minister directly, if I cannot call Lula in Brazil or go to Africa and talk about the assistance we may need, or call them to support a position that we want to take in the interest of

the Bahamian people, how would I be able to advance our interests?”

Mr Davis said such international relationships are important when advocating for financing and policy support for small island developing states.

“When the King of England is trying to accelerate efforts to unlock trillions of dollars from the private sector to assist small island developing states like ours, and he has all the multilateral chairpersons in one room, he needs a voice to help turn that lock and unlock those funds,” said Mr Davis. “That helps not just small island developing states, it helps us.”

Mr Davis also dismissed claims by the Opposition that the Government lacks a strategic plan for the financial services industry. “For him to suggest that there is no plan, when you think

GBPA, doesn’t allow for proper investment. I think the time is ripe for some much more comprehensive thought on this. Hopefully it stimulates some conversations.”

Mr Crane, in his column today, argues that Freeport must be refocused on its original role and purpose as “a laboratory for economic innovation”. He conceded: “For decades the island has struggled to regain the economic dynamism it once promised. Yet the very structure that once made Grand Bahama successful may also provide the solution to its current challenges….

“Over the decades, however, the effectiveness of that structure has eroded. Authorities originally granted under the Hawksbill Creek Agreement have gradually been reduced or fragmented.” The answer, he suggested, involves returning Freeport to its routs and original vision under new

about what I outlined and what I reminded the House of, where was the plan before?” he said.  “There was nothing but chaos.”

Mr Pintard, however, argued that while the financial services legislation aims to strengthen The Bahamas’ international competitiveness, many Bahamians remain under pressure from rising costs.

“These financial services Bills speak to the international face of the economy,” said Mr Pintard. “They are about attracting investment, serving sophisticated clients and positioning  the Bahamas competitively on the world stage. That work matters. But there is another face to this economy; the face ordinary Bahamians see every morning when they fill up their car with gas and when they pay their electricity bill.”

Mr Pintard said many residents are struggling with everyday expenses. “When I say fill up their car with gas, I really mean when they attempt to put gas in their

management rather than government control.

“The natural reaction may be for the Government to assume greater direct control. Yet this approach carries its own risks. The parts of Grand Bahama outside Freeport have many challenges and already require significant public investment and administrative attention. Expanding government responsibility into additional areas would likely stretch already limited resources and not solve the islands issues,” Mr Crane argued.

“But there is another path. Rather than dismantling Grand Bahama’s special status, The Bahamas could boldly embrace it. The original formula created opportunity. Rather than dismantle it the formula can be modernised to ensure that opportunity is fully benefits Bahamians. Grand Bahama could become a national test kitchen for modern governance.

car. For many people it is $10, for some it is $5, maybe $15,” he said.

The Opposition leader warned that with the current unrest in the Middle East, rising global oil prices will soon be felt locally. “The fuel crisis in our country is real. It is real at the pumps. It is real when you try to book a flight,” said Mr Pintard. “Fuel prices are going up, and that is not a prediction; it is a mathematical certainty.”

He said his party has proposed a VAT cap on fuel prices that would prevent the Government from collecting additional VAT revenue as prices rise. “We do not believe the Government should earn extra revenue on fuel when Bahamian people are hurting,” said Mr Pintard.

Mr Davis responded that the Government has already been preparing for global economic shocks and rising energy prices through energy reforms and upgrades to the national electricity grid.

“You have to put policies in place now to protect lives and livelihoods tomorrow,” said Mr Davis.

“We are a country that is very dependent on imports. In fact, we are called a

“Instead of the existing structure, the Government could reinstate many of the streamlined authorities originally envisioned under the Hawksbill Creek Agreement but grant them to a new professional management and investment consortium selected under strict national criteria,” he added.

“Importantly, this would not mean relinquishing sovereignty. On the contrary, the Government could strengthen oversight by clearly defining the standards that must be met in order to exercise these delegated powers.” These

“standards” would cover Freeport’s Immigration and Customs regimes, as well as healthcare, economic development, environmental protection and workforce development according to the Government’s objectives.

“In effect, Grand Bahama could once again become what it was originally intended to be: A laboratory for economic innovation,”

consumptive economy. So you must understand what is happening worldwide and stay two or three steps ahead.”

Mr Davis said global oil prices have already climbed sharply in recent weeks, noting that a barrel of oil that was significantly cheaper just two months ago is now trading above $100. “That spike is impactful,” he added.

“But people should know that it will not impact BPL in the way some are suggesting because we did things right and prepared for moments such as this.” He also rejected comparisons with policies introduced in Barbados to limit fuel price increases, arguing that the two countries operate under very different fuel purchasing systems.

“They like to cut and paste from what they see happening in Barbados and invite us to do the same,” Mr Davis said. “But when you cut and paste, you must understand the system you are copying.”

He explained that Barbados operates a government-centralised fuel purchasing system where the state buys and distributes fuel, while The Bahamas

Mr Crane wrote. “If successful, the lessons learned could strengthen governance across the entire country, not to mention creating much needed opportunities for Bahamian businesses and workers.

“This approach would transform the narrative surrounding Grand Bahama. Instead of being seen as a long-standing economic challenge, the island could become the engine that drives the next generation of Bahamian prosperity.

“At a moment when the nation is debating its future direction, such a vision offers something rare in public policy: The opportunity to turn a problem into a strategic advantage. Grand Bahama was once a bold experiment. With brave long-term leadership, it can be again - this time for the benefit of the entire Bahamas.”

relies on a different market structure.

Mr Pintard, meanwhile, argued that beyond the immediate cost of living concerns, the Government should present a clear long-term strategy for the financial services sector.

“Our strategic critique of these Bills is that the minister of finance brings them without providing a clear strategic plan for the sector,” said Mr Pintard.

“We are competing with jurisdictions like Cayman, BVI, Bermuda, Singapore and Luxembourg, and these jurisdictions publish strategies and multi-year road maps identifying the sectors they want to grow and the reforms needed to get there.” Mr Pintard said a future administration led by his party would produce a publicly available financial services strategy developed in consultation with industry stakeholders.

“An FNM government will produce a published, accountable strategy for the financial services sector - one informed by industry experts and one that Parliament and the public can scrutinise,” he said.

NOTICE

The Public Worker’s Co-operative Credit Union Limited announces that its 46th Annual General Meeting will be held on Friday, May 29th, 2026, at the National Training Agency beginning at 5 pm.

Applications are invited from members in good standing who may wish to run for the following vacant positions: Board of Directors (2 vacancies); Supervisory Committee (1 vacancy) and Credit Committee (1 vacancy).

Nominations forms are available at our Nassau and Freeport offices or by emailing sthompson@pwccul.com & edavis@pwccul.com

Completed Nomination forms, along with a cover letter and resume must be submitted by 5 pm on Friday, May 1st, 2026, either by delivering to any of our offices or via the emails listed.

No nominations will be allowed from the floor.

Small retailer fears greater impact than for the ‘giants’

“And, with that said, we can’t comment on anything yet, per se, because you don’t want the wrong thing to get out in the public domain and what not. We had a very productive meeting and they’re still in the works.

“As of April 1, it [the VAT elimination] will be implemented, but basically in stages, or whatever the case is. But they expect it to be done on April 1. They’re working along with us so that’s a good sign. That’s as far as that goes right there. Things are in the works and it’s looking promising.”

Not all retailers appeared to be so happy though. Ivan Carey, general manager of Kenneth’s Food Store, who was not present at the meeting voiced concerns that smaller grocery stores will be impacted on a larger scale in comparison to the “giants”.

“I wasn’t a part of that meeting so I’m not privy to

what all took place in that meeting,” he said. “Usually, when they say they meet with the grocers, for the most part, they call Super Value and Solomon’s the grocers. They use the giants to speak on behalf of everyone for the most part. Basically, what affects them affects us in the same way. “But a lot of times for us, the smaller grocers, it’s at a greater magnitude. With those giants, they can take a whole lot more than we can take. So I’m not privy... Because they have much more SKUs (stock-keeping units) than we have, they can share the costs across a broader spectrum of items. That’s what I mean. We’re more limited with our volume and variety.

“But those big chains, they have so much variety of stuff, they can share those costs among a lot more product. So that’s why I said that as well. So it would impact us more than it would impact them. But basically, the same thing

NOTICE

NOTICE is hereby given that I, CHARMAINE ANN BARRETT KING of P.O. Box FH-14322, Reeves Street, Fox Hill 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I, IVANETTE LAURISTON of 57 Bay Berry Lane, Freeport, Grand Bahama, 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that EVENS MERTILIEN of Blue Hill 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I MAURICE ALCY of Roosevelt Avenue, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that I IESHA ALLIEA MORRISON of #135 South Beach Drive P.O Box: SB50528, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

that Mr Roberts was saying, we will experience the same thing with the VAT exempt. That means our persons that do the VAT returns have to work much harder, because now they dealing with another category of stuff. We already had the 10 percent, the 5 percent, now the VAT ‘exempt’ if they continue with that.”

Tribune Business exclusively revealed last week how Super Value had warned it could incur extra costs of between $300,000 to $400,000 per month, or around $3.6m to $4.8m per year, as a result of the Government’s decision to treat the uncooked food VAT elimination as ‘exempt’ rather than ‘zero rated’.

While the latter treatment would have eradicated VAT at all stages of the supply chain, using the ‘exempt’ approach means only the consumer, or end purchaser, is not charged this tax. VAT will still apply at all levels in the supply chain, and ‘exempt’ treatment means businesses such as grocery retailers and wholesalers will be unable to recover the tax paid on their input

expenses associated with purchasing uncooked foods.

For example, if uncooked foods account for 60 percent of a merchant’s sales, it will be unable to reclaim or recover 60 percent of the VAT paid on its light bill, store rents and maintenance expenses. As a result, operating costs will rise, and retailers warned they may have to increase prices to offset the impact, thereby negating the impact of the uncooked food VAT elimination. Merchants had also warned that introducing VAT ‘exempt’ treatment would make the tax much more complex to administer, increasing costs and time involved with this, and raising concerns they may miss filing deadlines and provide inaccurate return submissions. This was because they now have to correctly categorise products into those that are VAT ‘exempt’, ‘zero rated’, or taxed at 5 percent or 10 percent.

The food retailers’ comments provide a little more clarity than the statement issued by Mr Davis via his office. It gave no indication of how the concerns were

NOTICE

NOTICE is hereby given that I, NOUNE-MICHMA OLIBRICE of Pinewood Gardens, 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I, VALERI BOYANOV TRITAKOV of Dun Reach Arawak Drive, Triana Shores, Harbour Island, 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I JOHN WEEDENS OLIVER SR. of Johnson Road, New Providence, 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that I MARIE MARCELINE DORLEANS of Market 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that WHISLEY ALICIME of Eight Mile Rock, Grand Bahama, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

resolved, and merely said:

“Today I met with representatives from the grocery retail industry because my number one goal remains clear: Bringing down the cost of living for Bahamian families.

“Families across our country are working hard every day, and they deserve a government that stays focused on easing pressure at the checkout line and around the kitchen table. That is why we came together today in a spirit of co-operation and shared purpose.

“I am pleased we could find a solution so that Bahamians will benefit from the change of VAT on unprepared food in grocery stores beginning April 1. This is about helping families keep more of their money in their pockets. It is about making every day essentials more affordable. And it is about showing that when government and industry come together with goodwill and seriousness, we can deliver real results for the people we serve.”

Mr Davis added: “This is about helping families keep more of their money in their pockets. It is about making everyday essentials more affordable. And it is about showing that when government and industry come together with goodwill and seriousness, we can deliver

real results for the people we serve.

“I believe in having an open door. I believe in listening. I believe that even when challenges are tough, progress is possible when we sit down together, speak honestly, and stay focused on the people who sent us here to work on their behalf.

“That is the approach I have always tried to bring to leadership. I believe we can work together to solve our country’s toughest challenges. I believe in partnership. I believe in practical action. And I believe in building on the progress we have already made for the Bahamian people,” Mr Davis said.

“Today’s meeting was another example of that approach in action. We listened to each other. We worked through the issues. And we agreed on a way forward that keeps the focus where it belongs, on delivering relief for Bahamian families.

“April 1 will mark an important step. The full removal of VAT on unprepared food in grocery stores will help many families across The Bahamas as they manage the rising cost of living. My government will keep working every day to find ways to ease the burden on working people, support households, and move this country forward.”

PUBLIC NOTICE

The public is hereby advised that I, DANEEN PETITA TRECO-SOUTHWORTH of 5440 Fairview Avenue, Downers Grove, Illinois 60515 USA, intend to change my name to DANEEN PETITA TRECO SOUTHWORTH 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. INTENT TO CHANGE NAME BY DEED POLL

NOTICE

NOTICE is hereby given that I, ELZHANA NIKOLAEVA IVANOVA of Dun Reach Arawak Drive, Triana Shores, Harbour Island, 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 19th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I FLODETTE ALCY of Roosevelt Avenue, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that I SANNOZILE LUCKNER of Saki Close of Soldier Road, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that I SULTAN LESSAGE of Bimini Place, Hawksbill, Grand Bahama, 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 12th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Both sides in Iran war ratchet up attacks on energy facilities, as oil prices surge

By JON GAMBRELL, SAM METZ and JULIE WATSON Associated Press

ISRAEL killed Iran's intelligence minister as it kept up its campaign against the Islamic Republic's top leadership and reportedly attacked an Iranian offshore natural gas field Wednesday, as the war escalated pressure on the region's economic lifeblood: energy.

Iran condemned the strike on its massive South Pars natural gas field, with Iranian President Masoud Pezeshkian warning of "uncontrollable consequences" that "could engulf the entire world."

Iran kept up attacks on its Persian Gulf neighbors' energy facilities, striking a major natural gas facility in Qatar, as it continued to squeeze the Strait of Hormuz shipping channel — through which one-fifth of the world's oil travels.

The price of oil surged another 5% to over $108 a barrel on international markets, increasing the price of gasoline and other goods.

The price of Brent crude, the international benchmark for oil, is now up close to 50% since the start of the war.

As the Trump administration looks for ways to boost oil supplies, the Treasury Department eased sanctions on Venezuela Wednesday, saying U.S. companies will be allowed to do business with the country's state-owned oil and gas company.

Israeli Defense Minister Israel Katz promised "significant surprises" to come after Iran's intelligence minister, Esmail Khatib, was killed in an overnight strike. A day earlier, Israel killed top Iranian security official Ali Larijani and the head of the paramilitary Revolutionary Guard's Basij force, Gen. Gholam Reza Soleimani. Iran retaliated by unleashing missile strikes against Israel. Israel said an Iranian missile hit the occupied West Bank, marking the territory's first fatalities during the Iran war, though missile debris has damaged homes and businesses.

BINDY LIMITED

(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 17th day of March, 2026. The Liquidator is Windermere Corporate Management Limited, 200 Sterling Commons, East Building, Harbour Drive, Paradise Island, Bahamas, P.O. Box N-7797, Suite A-084, Nassau, Bahamas.

WINDERMERE CORPORATE MANAGEMENT LIMITED Liquidator

Iran also attacked Saudi Arabia's vast Eastern Province, home to many of its oil fields, as well as Kuwait, Bahrain and the United Arab Emirates.

The United States was informed about Israel's plans to strike Iran's massive South Pars natural gas field, but did not take part in it, according to a person

familiar with the matter. The person, who was not authorized to comment publicly and spoke on condition of anonymity, would not say if the Trump administration agreed with the Israeli decision to attack the gas field — part of the world's largest such resource and a pillar of Iran's energy supplies.

BEOLSA GLOBAL LIMITED

(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the abovenamed Company is in dissolution, which commenced on the 17th day of March, 2026. The Liquidator is Windermere Corporate Management Limited, 200 Sterling Commons, East Building, Harbour Drive, Paradise Island, Bahamas, P.O. Box N-7797, Suite A-084, Nassau, Bahamas.

WINDERMERE CORPORATE MANAGEMENT LIMITED Liquidator

First fatalities reported in West Bank during Iran war

The Palestinian Red Crescent said at least three people were killed in the occupied West Bank town of Beit Awa as Iran fired missiles toward Israel. At least 13 others were injured.

Earlier authorities said at least four people had died, but they adjusted the number as crew assessed the scene.

The Israeli military told The Associated Press an Iranian missile — not shrapnel from an interception — hit in the West Bank.

Officials described it as a cluster munition that got past Israel's air defense system.

Iran keeps up strikes on Gulf countries' oil facilities

QatarEnergy said on X that a missile hit its massive Ras Laffan liquefied natural gas facility, sparking a fire that caused "extensive" damage before it was extinguished. The company had already halted production there because of Iranian attacks.

Since the war started, a small number of ships from Iran, Turkey, India and elsewhere have gotten through the Strait of Hormuz, which leads from the Persian Gulf to the open ocean. Iran insists the waterway is open, just not to the U.S. or its allies.

U.S. President Donald Trump expressed growing frustration that no allies have offered to help open the strait, posting on social media: "WE DON'T NEED THE HELP OF ANYONE!"

A top British military official, Armed Forces Minister Al Carns, said that any reopening of the strait is a long way off because of threats that include mines, attack boats and drones.

Iran launches multiplewarhead missiles at Israel

Responding to the killing of Larijani, the paramilitary Revolutionary Guard said Wednesday it had attacked central Israel with multiple-warhead missiles that have a better chance of evading defense systems.

Footage filmed by The Associated Press showed at least one missile releasing a cluster of munitions over Israel.

Larijani was a senior policy adviser to the late Supreme Leader Ali Khamenei on strategy

in nuclear talks with the Trump administration. He was sanctioned by the U.S. Treasury in January for his role "coordinating" Iran's violent suppression of nationwide protests. Gen. Soleimani was also sanctioned by the U.S. and other nations for his role in suppressing dissent for years.

Iranian Supreme Leader Ayatollah Mojtaba Khamenei expressed condolences for the slaying of Larijani, according to a written statement published in Iranian media. "Undoubtedly, the assassination of such a person shows the extent of his importance and the hatred of the enemies of Islam towards him," the statement said.

The younger Khamenei has not made a public appearance since his father was killed in the war's opening salvos during which he reportedly was also wounded.

Renewed strikes in Iran

The Iranian judiciary's Mizan news agency said an airstrike hit a courthouse complex in Larestan in southern Iran, and that at least eight people were killed. More than 1,300 people have been killed in Iran since the conflict started, according to the Iranian Red Crescent.

Mizan also reported that Iran executed a man on charges of spying for Israel's Mossad intelligence agency. It identified him as Kourosh Keyvani and alleged he "provided images and information on sensitive locations" to Israel.

Sweden's Foreign Ministry condemned what it said was the execution in Iran of a Swedish citizen arrested last year. Additional details were not available.

Israel pressures

Hezbollah in Lebanon

Keeping up pressure on Iran-backed Hezbollah militants, Israeli strikes hit multiple apartment buildings in Beirut, killing at least a dozen people.

Israel flattened an apartment building in central Beirut about an hour after issuing an evacuation notice — the fourth time the building was targeted. Israel's military claimed it was being used by Hezbollah to store "millions of dollars intended to finance its activities," without providing evidence.

ISRAELI authorities hang Israeli and U.S. flags at the site struck by an Iranian missile that killed two people, in Ramat Gan, Israel, Wednesday, March 18, 2026.

Photo:Oded Balilty/AP

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