By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE treasure hunter salvaging a multi-billion dollar Bahamas wreck yesterday described its legal battle with a former contractor as akin to “a divorce from a bad partner” as it bids to ramp up exploration activities.
David Concannon, attorney and spokesperson for Allen Exploration Group (AEG), told Tribune Business that the explorer intends to be “out on the water” either later this month or by early May after taking delivery of a new 75-foot exploration vessel that will be dedicated to salvage and recovery work on the
sunken-Spanish treasure galleon, Nuestra Senora de la Maravillas
And he voiced optimism that their ongoing courtroom fight with Daniel Porter and his Maritime Research & Recovery (MMR) corporate vehicle will quickly reach the “merits” of the latter’s claim after a south Florida judge last week agreed with Allen Exploration that the case should be transferred to its “home court” jurisdiction of Texas.
Mr Concannon signalled that switching the venue will be to the explorer’s benefit and disadvantage Mr Porter, who he accused of continuing to hold Allen Exploration’s proprietary data on valuable gems, treasure and other artifacts it has recovered as well as its commercial dealings with
Bahamas Striping affiliate’s $185m West GB road deal
By NEIL HARTNELL Tribune Business Editor
SOME 95 percent of the near-$193m in government contracts issued in December 2024 was tied up in just one deal awarded to a Bahamas Striping affiliate for repaving west Grand Bahama’s roads.
Details on around 100 contracts, released yesterday by the Ministry of Finance, reveal that Abaco Caribbean Holdings secured a $183.459m contract from the Ministry of Finance to overhaul some 98 miles of road between West End and Eight Mile Rock via the “direct award” procurement method.
Several contacts, speaking on condition of anonymity, yesterday questioned the “direct award” method’s use in granting such a large contract to Abaco Caribbean Holdings as this signals it was never put out to tender and there was no competitive bidding as a consequence. Bahamas Striping’s website confirms that the winning bidder is its affiliate, and both share the same address at Lot 2C Abundant Life Road.
Currently overhauling some 163 miles of Eleuthera’s roads under a $100m contract, and having previously been hired by the Government to transform much of Exuma’s road network at a cost of $60m, Bahamas Striping and another of its subsidiaries, Caribbean Pavement Solutions, would appear well-qualified for the Grand Bahama work.
Several contacts pointed out that - combined - the value of the three contracts including Grand Bahama is some $343.459m, a sum that almost exactly matches the total $344.5m capital spending that the Government has budgeted for the current 2024-2025 fiscal year. And they also challenged whether the ‘direct award’ of such a large $183m contract can be justified based on the law set by the Public Procurement Act.
The last version of this Act, passed by Parliament under the Davis administration, sets out the grounds under which this procurement method can be used. These include that the contract value is less than $100,000; that no
SEE PAGE B4
the Bahamian government over the division of these recoveries. Asserting that relations with the Davis administration have not
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE parties seeking to regain management control at Old Bahama Bay yesterday hit back at the Government’s investments chief by arguing her intervention was “improper” and challenging her standing to do so.
Michael Scott KC, attorney for LRA-OBB and Resort Holdings, the two corporate entities that own the West End resort and the former Ginn project, suggested that Phylicia Woods-Hanna, the Bahamas Investment Authority’s (BIA) director, had “injected” herself and the Government into a private commercial dispute to the benefit of the group opposing his clients’ bid to retake control of their property.
And, in his March 31, 2025, response to Mrs Woods-Hanna’s letter demanding that attempts to takeover Old Bahama
Bay’s management “cease and desist” until all required government approvals are obtained, he instead asserted that the Government should instead focus on ensuring Island Ventures Resort and Club (IVRC), the entity his clients are seeking to replace, pays due severance and benefits to its employees.
Mr Scott, in his letter, said he had read the BIA chief’s earlier March 21, 2025, missive with “alarm
By FAY SIMMONS Tribune Business Reporter
A CABINET minister yesterday said the Government is about to start its “second lap” of re-negotiating expired industrial agreements with the trade unions.
Pia Glover-Rolle, minister of labour and the public service, also said the completion of industrial deals with the Consultant Physicians Staff Association (CPSA) and the Bahamas Doctors Union (BDU) - representing both the senior and junior doctors, respectively, in the public health system - is “imminent”.
Speaking to reporters at the National Tripartite Council’s annual general assembly, she said talks are almost completed and is hopeful that a proposal will be agreed on within days so the industrial agreements can be signed next week.
and dismay” after she warned that Bahamian law would be “violated” if the Old Bahama Bay management takeover proceeds.
Pushing back hard, he wrote: “In my considered view it is improper for a regulator, which you are, to inject and insinuate [sic, insert] yourself into a private commercial dispute on behalf of one of the disputants and on the basis of hearsay evidence which you seem not to have taken
“I am highly anticipating us finally signing our agreement with the doctor’s unionsthat would be the CPSA and the BDU. They are imminent. We are at the point of counter proposals, where we’re down to our last clause, and hopeful that we will get that proposal agreed to within this week, and hopefully move forward to a signing within the next week,” said Mrs Glover-Rolle. She added that preparations are also being made to begin negotiations on several industrial agreements set to expire.
“We’re about to make our second lap. We have 54 industrial agreements signed between public and private sectors. Many of our agreements are expiring within the next eight to twelve weeks, and we are
any independent steps to verify for accuracy.
“Your information is wrong. In any event, please clarify your statutory jurisdiction enabling this intervention.” Mr Scott reiterated that he was acting for LRA-OBB and Resorts Holdings, the Old Bahama Bay owners, “who have terminated their tenancy and bare licence” with IVRC, which is a group of the resort’s condo owners - formed in the wake of Ginn’s 2011 financial
Ombudsman helping with consumer protection push
By NEIL HARTNELL Tribune Business Editor
THE Central Bank’s governor says it will recommend reforming the Payments System Act to aid development of the so-called ‘basic bank account’ designed to boost financial access for many Bahamians.
John Rolle, in a series of written answers to Tribune Business questions, added that development of the Financial Services Ombudsman’s office has also spearheaded efforts to develop “financial protection legislation” for Bahamian consumers.
Signalling that enhanced consumer safeguards and increased Bahamian access to banking services remain a priority for the regulator, he said: “The Central Bank continues to explore a range of consumer financial protection-related initiatives, including strengthening financial literacy programmes that empower users to better navigate the services provided by financial institutions.
BAHAMIAN REAL ESTATE FIRM FINDS GLOBAL NEST
A BAHAMIAN real
estate
firm has unveiled a partnership with Nest Seekers, an international brokerage known for its global reach in the highend property market.
Bahamas Property Group (BPG), in a statement, said the tie-up will enable it to connect with the global client base of a brokerage that is responsible for more than $100bn in global transactions in just over 20 years.
“This partnership combines BPG’s deep market expertise in The Bahamas with Nest Seekers’ cutting edge capabilities, offering clients from around the world a seamless and dynamic experience when seeking out high-end properties in The Bahamas,” said BPG’s senior managing
partner, Richard Sawyer. “Together, we aim to redefine the standards of luxury real estate in this market.”
BPG specialises in highend communities such as Old Fort Bay, Lyford Cay and Ocean Club Estates, as well as exclusive Family Island properties and the broader middle range market. It said the partnership with Nest Seekers will improve BPG’s efficiency and quality of service.
Omar Chemaly, BPG’s managing partner, said the company searched carefully for the right partner that would offer unique advantages to its clients. “We knew right away that the coming together of BPG and Nest Seekers would be a game changer for the
luxury real estate in The Bahamas,” he added.
“The two brands have much in common. Both combine deep experience with a fresh approach. Both rose rapidly to the top of their respective markets by prioritising excellence and innovation. It is the ideal partnership.”
Although founded in late 2020, BPG’s management team has decades of experience in the Bahamian property market. Nest Seekers, founded in 2002 by chief executive Eddie Shapiro, has more than 50 locations and 2,000 agents and employees across the globe.
Nest Seekers uses digital platforms to reach clients and provide real estate services across all markets.
The company also employs media partnerships, such as its television series, ‘Million Dollar Listing New York’, the Shapiro executive-produced Netflix hit, ‘Million Dollar Beach House’ and ‘Selling the Hamptons’ on Discovery+. This is arranged through its media arm, ‘Nest Media’.
“Nest Seekers is thrilled to be joining forces with Bahamas Property Group,” said Mr Shapiro. “BPG’s innovative approach and deep expertise in the market make this an extremely exciting partnership for us. We are proud to introduce Nest Seekers Bahamas to the world.”
CIBC Caribbean launches online client link to realtors
CIBC Caribbean has launched an online platform that seeks to make home and land purchasing easier region-wide through directly connecting clients with realtors.
Inger Johnson, CIBC Caribbean’s district manager of personal and business banking, unveiled The Realtors Hub at a breakfast recently hosted by the bank at the Margaritaville Beach Resort.
“The Realtors Hub is revolutionising the way our clients engage with the real estate market. It is providing them with the tools and connections needed to
navigate home or land ownership with confidence. By enhancing access to toptier real estate services, we ensure our clients are guided by the most reliable professionals in the industry,” Ms Johnson said. The Realtors Hub offers CIBC Caribbean clients a pathway to connect with a vetted list of real estate agents and brokers. Besides facilitating these connections, the platform also provides tools and resources that help buyers understand the acquisition process, assess their financing options, and navigate the complexities
of real estate transactions effectively.
“While our hub features a selection of top realtors, choosing a real estate professional is a personal decision that should align with the buyer’s unique needs and aspirations,” Ms Johnson added.
The event not only showcased The Realtors Hub but also the partnership between CIBC Caribbean and the real estate industry. The bank appealed for realtors to join the hub and leverage its benefits, which include a limited-time incentive programme aimed at fostering collaboration.
Bahamian bank wins trio of global awards
A BAHAMIAN financial
institution says it won a trio of honours from the International Investor Awards that showcase its commitment to innovation.
Cornèr Bank (Overseas), in a statement, said it won Best Private Bank – Bahamas 2025 and Excellence in Banking Innovation – Bahamas 2025. And Christine Russell, its chief executive, has been named Woman in Finance, Banking chief executive of the year for The Bahamas in 2025.
“We are honoured to receive these recognitions as they reinforce Cornèr Bank’s reputation as a leader in private banking and innovation - both in The Bahamas and within the global financial community,” said Ms Russell.
“Our clients are at the heart of our organisation, and this client-centric philosophy drives our relentless pursuit of excellence. By continuously adapting and innovating, we provide personalised financial solutions
Minister: ‘Second lap’ of labour deals to start
FROM PAGE B1
already back at the table,” said Mrs Glover-Rolle
that meet the evolving needs of our clientele.”
The International Investor Awards celebrates companies and individuals who demonstrate outstanding performance, innovation and leadership across finance, banking and investment.
Cornèr Bank was established in The Bahamas in 1996. Ms Russell, the first woman to serve as chief executive of Cornèr Bank (Overseas), brings more than 33 years’ experience in the financial services sector
“We’re already just drafting proposals so that we can sign our next round of industrial agreements that speak to absolute success on the labour front and absolute success for industrial relations.”
Notice SACHEL WEALTH MANAGEMENT LTD.
In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, SACHEL WEALTH MANAGEMENT LTD. is in dissolution as of March 21, 2025.
International Liquidator Services Ltd. situated at 3rd Floor Whitfeld Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
Mrs Glover-Rolle encouraged feedback from all sides on the proposed labour reforms and warned them not to “oppose just to oppose”, but to provide suggestions and alternatives that can help create labour market policies.
She said The Bahamas must reform its labour practices to ensure it is in line with international standards, with several countries already successfully implementing changes to maternity leave, paternity leave, mental health leave and remote work.
“My message to them today was, don’t oppose just to oppose. Come with a solutions-based response. We can’t just say we can’t do certain things for our workers. Maybe we have to do it in a limited version, maybe we need to pivot in the way that we’re doing it, but to
following her appointment in 2017.
Corner Bank said the Excellence in Banking award highlights its commitment to integrating technologies into its operations. Beyond its banking operations, Cornèr Bank has established the Cornèr Bank Direct Art Scholarship Award at the University of The Bahamas, fostering local talent and contributing to the nation’s cultural enrichment.
outrightly oppose and not even look at a perspective where we can move forward even incrementally, I don’t subscribe to that,” said Mrs Glover-Rolle.
“That was my encouragement. Where there are barriers, let’s give solutions and focused response to understand how we can move forward, because we’re not moving forward because The Bahamas says we should. There are international labour standards that we want to attain, and many countries have successfully demonstrated that they have extended maternity leave, paternity leave, mental health leave, remote work, legislation and, of course, legislation that speaks to the industry of technology and AI that’s ever evolving. So it’s never a hard ‘no’. It’s always social dialogue and ensuring that we’re finding solutions so that we can actively move our workforce into the 21st century.”
FROM L to R: Omar Chemaly, Bahamas Property Group’s (BPG) managing partner; Eddie Shapiro, Nest Seekers chief executive; and Richard Sawyer, Bahamas Property Group’s senior managing partner, at Nest Seekers international headquarters on Park Avenue in New York.
CHRISTINE RUSSELL, chief executive of Cornèr Bank (Overseas), has been named Woman in Finance, Banking chief executive of the year for The Bahamas in 2025, by the International Investor Awards. The bank also earned top honours as Best Private Bank Bahamas 2025 and for Excellence in Banking Innovation Bahamas 2025.
Teachers union chief targets member homes, maternity
By FAY SIMMONS
THE Bahamas Union of Teachers (BUT) current president yesterday said she is seeking reelection when members once again go to the polls.
Belinda Wilson confirmed she has been nominated to run for president again, and intends to use to the opportunity to complete outstanding projects and introduce a housing initiative for members if re-elected. She added that the BUT is currently 75 percent complete with its multipurpose building and is about to start negotiations for a new collective bargaining agreement with the Government.
“When I ran the last time I did say publicly that I was not going to run [again]. I’m actually going to run. The members already know that I’m going to run. Today is actually the deadline for nominations. I have been nominated for the position of president. It definitely will be my last, so I look
forward to serving the members for the next three years,” said Ms Wilson.
“On top of that, right now, internally, we’re trying to complete our multi-purpose building. So that’s about 75 percent completed. I’m getting ready now to do the draft of our new collective bargaining agreement for 20252028. So I’m excited, and I hope
to win, and I look forward to continuing to serve the members of the Bahamas Union of Teachers from Grand Bahama to Inagua.”
Ms Wilson said the union is also in discussions with a private company and the Government to create a subdivision for union members. She added that a $20m funding agreement was struck with the Bahamas Cooperative Credit Union to provide members with financing for mortgages, education and vehicle loans.
“I’m in discussions with a private company and also with the Government. I’m praying that everything falls into place so that within, probably another year, year-and-a-half, we will be able to see some of our members in houses,” said Ms Wilson.
“What I must also say that I’m very pleased about is that we were able to have a vehicle of $20m made available to the Bahamas Union of Teachers’ members from the Teachers and Salaried Workers Cooperative Credit Union, and that’s for mortgages, properties, education, vehicle loans.
permits to pay for any work permit except his own”.
soured as a result of the dispute, he added that while being locked out of its own data was “inconvenient” and “costly” for Allen Exploration it has “not crippled” its ambitions and activities to the extent that it has totally shut down exploration in the northern Bahamas waters.
Disclosing that one contractor has continued salvaging on Allen Exploration’s behalf, Mr Concannon said the treasure hunter - headed by the wealthy Walker’s Cay owner, Carl Allen - has used the months since late summer 2024 to “reset” in preparation for work to intensify again this summer.
He spoke out after Jose Martinez, a US district judge in the south Florida federal court, ordered that Mr Porter’s case before him be closed and dismissed and, instead, transferred to the North Texas federal court. He ruled that the two agreements governing their business relationship both named Texas as the jurisdiction for resolving any legal disputes.
“They tried very, very hard to persuade the courts that the case should stay in Martin County, Florida, where he had a home court advantage, so to speak.
He wanted it there,” Mr Concannon told Tribune Business of Mr Porter. “We’re very happy. The judge is no nonsense, the court is no nonsense.
“We’ve always felt strongly that the plaintiff’s case had no merit. We have been litigating side issues for the last six months, not the merits of the case; ancillary issues. Everything to-date has been on the side issues. Now we look forward to getting into the merits. I’m very optimistic of that.”
Mr Porter, in initiating legal action, alleged that Mr Allen and Allen Exploration sought to hire his expertise and skills to assist with the Nuestra exploration and recovery because they lacked the necessary knowledge at that time. He claims the two parties agreed “a treasure recovery operation” where Mr Porter and his firm would receive 30 percent of the artifacts recovered once the Bahamian government had taken its share.
The Spanish galleon, according to Mr Porter, is estimated to have sunk with a $5bn fortune at today’s values with some $1.5bn in gold and silver thought to remain unrecovered. He, though, is alleging that Mr Allen and Allen Exploration have reneged on their deal and are now refusing to pay MRR’s rightful share of $10m in “undivided treasure” that has been recovered.
Asserting that he and MMR are due between $1.5m-$2m from these recoveries, Mr Porter is also claiming that Allen Exploration has seized intellectual property worth $20m in the form of a map and recovery plan he produced for not only the Nuestra’s $1.5bn but a second Spanish treasure galleon, the Genovese, which was part of the same Spanish fleet and also sank in Bahamian waters centuries ago.
However, Mr Allen and Allen Exploration denied all claims and countered by asserting their contractor “failed to use money he was given to pay the Government for multiple work
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, OMAR LAING, of #A32 Hospital Lane, New Providence, The Bahamas, P.O. Box N-1087. intend to change my name to OMAR SAUNDERS If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O.Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
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 1st day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
They also alleged he used their money to pay personal expenses, while using vessels and crew hired by AEX on salvage work for others while “rarely” going to explore the Nuestra site in winter despite being paid to do so. And they also claimed Mr Porter is “a convicted felon with a 30-year criminal history”.
“It’s been like a divorce from a bad partner,” Mr Concannon told Tribune Business. “It’s painful to go through, but in the other side you’re able to get reset. We just took delivery of a 75-foot vessel dedicated to salvage. We’re not leasing boats from anyone who gets paid to look and not to find.
“It’s just now come from Europe and has to be converted from North European to American. The crew will be smaller and, we hope, loyal. We haven’t had a problem with the crew there before. All the lessons that were learned from this experience with Mr Porter and MMR will be applied and inspire everything going forward. I’m optimistic about that, and I know Mr Allen is very optimistic about that.”
Allen Exploration, though, has accused Mr Porter of not only seizing but locking it out of its confidential, proprietary research and data on the Nuestra salvaging and recovery. Mr Concannon confirmed that their legal opponent has “still not turned over the confidential data”, which he described as “inconvenient” but not fatal while adding that Allen Exploration’s attorneys are working via the courts to address it.
And, having hired Mr Porter’s deputy, who “knows where to look and not to look”, Mr Concannon added: “Is it inconvenient? Yes. Is it a cost? Yep. Is it so crippling
“So along with the Government and ourselves, the credit union and a private partner, I believe if all goes well, we should be able to see some of our members in homes.”
Ms Wilson said she is in favour of extending maternity leave beyond 12 weeks and other proposed labour reforms, but added that it must be done after consultation with the business community as employers would have to adjust their budgets to employ temporary staff for an extended period
“I support the maternity leave expansion, the paternity leave expansion. When you look at the expansion of maternity and paternity, you have countries such as Sweden; they’re already doing it. We have to also, again, that’s where consultation comes in, because there has to be a discussion with the employers. Because you know that that would call for budgetary or financing, because as a worker is out on maternity, you need to bring someone in to complete their task or their duties
that we cannot move forward? No. We’ve had the winter from July, August to now to reset, and have been researching data and doing what we need to do.
“We will be out on the water by the end of April or early May if the yard doing the refit has no delay. There’s been one contractor working constantly. He’s been going out when the weather has been good and he worked with us before. He’s still continuing to work, and we’ve kept the crew employed at the [Grand Bahama] museum and with other activities.”
Asked whether Allen Exploration’s relationship with the Bahamian government remains strong, Mr Concannon replied: “That is still the case. We were upfront with the Government from the very beginning. What we learned about Mr Porter we shared with the Government. We didn’t want any collateral damage with that or as a result of this, and we’re grateful the Government gave us the breathing room.
“They’ve read the pleadings and what happened is pretty clear. Forget about the sideshow. On the merits it’s pretty clear. They will not take sides, but it’s pretty obvious from Mr Porter’s reliance on side issues. They gave us a lot of time and faith to sort things out. We had a good relationship with the last administration, and this administration, and the Allens are committed to The Bahamas...
“Like I say, a painful divorce but we still have our friends. We can focus on the merits. It won’t be over any time soon, but at least it will be on the merits. It’s taken up a lot of paper, a lot of ink, and a lot of time. Inconvenient?
Yes. Painful? To a certain extent, yes. But it will not in any way make them [the Allens] give up and I’m grateful for that.”
NOTICE
NOTICE is hereby given that JEAN PIERRE DIEUDONNE of #7 Forest View Apartment, Freeport, 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 1st day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
while they’re on leave,” said Ms Wilson. She added that the labour reforms ‘white paper’ should have more details about the proposals, so she is looking forward to reviewing it with other union officials and ensuring changes align with existing industrial agreements.
“So definitely, we look forward to the white paper that is being prepared, and we will have a review of the white paper, which theGovernment should be preparing in order for the changes in legislation, because some of those changes will call for changes in legislation,” said Ms Wilson.
“You’ll have to also look at like the National Insurance Act and the benefits that comes with National Insurance. We’ll have to look at our industrial agreements and make sure that that it is in keeping with what the new legislation and laws and policies will be. But definitely, I look forward to those changes, and I hope it’s in short order.”
Apprenticeship to soon ‘hit the ground running’
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE National Apprenticeship Programme’s executive chairman yesterday said the long-awaited initiative is expected to launch imminently within the coming weeks.
Michelle Malcolm told Tribune Business that the Board which will oversee the roll-out has been approved by the Davis administration’s Cabinet and, once their names have been published in the Government’s Gazette, the initiative will “hit the ground running”.
“We are about to be launched in a couple of weeks. The Cabinet has approved the Board members, and now the next step is for it to be published in the Gazette, and then we hit the ground running,” said Ms Malcolm.
“We actually we have our first Board meeting in a couple of weeks, and planning has been going on in anticipation of this time coming for a while, but now that we’re here we’re able to really launch the programme.” She said the first 100 apprentices in the maritime sector are expected to be on board by June and, in September, the programme will expand to other sectors.
“We’re going to be starting off with a pilot project in the maritime sector. There will be 100 apprentices engaged in that, and then we’re just anticipating that by around September, we’ll be able to open it up to other sectors as well,” said Ms Malcolm.
“We’re not going to be having our first meeting of the Board until near the end of April, and so, depending
on how quickly it is published in the Gazette, I’m anticipating around May, June, we should have our first cohort.”
Pia Glover-Rolle, minister of labour and the public service, said the National Apprenticeship Programme will transform the way Bahamians participate in the workforce by providing paid training and development in high demand sectors.
Speaking about the initiative during its launch last year, Mrs Glover-Rolle said it will help participants launch meaningful careers and also address the country’s challenges with today’s “social climate.
“The National Apprenticeship Programme will forever change the way we prepare Bahamians to take advantage of opportunities within the labour market. This programme will provide certified, paid training and development opportunities in high demand fields,” said Mrs Glover-Rolle.
“Especially within our current social climate, we believe that the National Apprenticeship Programme is desperately needed to better prepare our young people, our youth, to be productive citizens, leading positive and peaceful lives in an economy and a labour market that will not just make room for them but assist them in launching meaningful careers.”
Several sectors were identified for the initiative through statistics provided by the Department of Labour’s vacancy unit. The programme will pilot with the maritime sector and will expand to include construction, health and allied services and ICT (information and communications technology).
NOTICE
NOTICE is hereby given that FRUZT AUGUSTIN of Joe Farrington 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 1st day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
BELINDA WILSON
Bahamas Striping affiliate’s $185m West GB road deal
suitable bids were received in a competitive tendering process; “reasons of extreme urgency”, such as a natural disaster; and other factors that do not necessarily appear to apply to such a project.
Dominic Sturrup, Bahamas Striping’s principal, declined to comment on the West Grand Bahama contract award when contacted by Tribune Business citing the “confidentiality of the contract” and directing all questions to the Government. “I can’t answer any questions,” he said. “All of our contracts are confidential. You’d have to reach out to the Government to get an answer on it.”
The “confidentiality” assertion came despite the projects being funded by the Bahamian people’s money as taxpayers.
The Opposition has been critical of both Bahamas Striping’s Eleuthera and Exuma projects, which have been billed as public-private partnerships (PPPs), challenging the Government to disclose what the interest rate, terms and conditions are attached to the financing. A portion of the Exuma roadworks’ funding was obtained from a Jamaican financial institution, and the Opposition has argued that - instead of being true PPPs - the arrangements with Bahamas Striping and its affiliates are structured in such a way as to keep increased debt off the Government’s balance sheet even though Bahamian taxpayers have the liability of repaying these loans. As for the Grand Bahama project, Mr Sturrup did confirm that documents uncovered by Tribune
Business are genuine. These show that IDB Invest, the arm of the Inter-American Development Bank (IDB) that finances the private sector, is exploring providing $22m in funding to Abaco Caribbean Holdings.
“IDB Invest is looking to finance approximately $22m through a working capital facility to support Abaco Caribbean Holdings, a Bahamian company, and its shareholders, the Bahamas Striping Group of Companies,” IDB Invest said.
“This financing will be directed towards the West Grand Bahama Road Improvement project, which seeks to enhance connectivity, safety and the overall travel experience across Grand Bahama. The project involves the rehabilitation of asphalt paving of 51 miles of highway and 47 miles of settlement roads,
with an estimated cost of $185m.”
Other IDB documents, seen by this newspaper and giving more detail on the project, state: “These improved roadways will unlock economic opportunities, facilitate smoother transportation of goods and services, and bolster the tourism sector, which is vital for the island’s economy....
“Abaco Caribbean Holdings, founded in 2016 as a turnkey service provider, has gained experience through the planning, designing and construction of parks and community centres, and implementing smart technology systems. Most recently, with the support of other companies of Bahamas Striping, it has expanded its services into road paving and construction, land clearing and site development.
GOV’TS OLD BAHAMA BAY INTERVENTION ‘IMPROPER’
default - that take over operating the property.
The basis of Mrs Woods-Hanna’s concerns appears to be the purported involvement of Kingwood International Resorts and its affiliates, the Reunion Cay Group of Companies, in the Old Bahama Bay management takeover given that the Government has previously twice-rejected their application for approval to operate in The Bahamas.
“We note that the NEC (National Economic Council) has not granted permission to the company to conduct business operations in The Bahamas,” Mrs Woods-Hanna wrote. “Previously, the Authority has issued two refusal letters dated May 5 and December 6, 2022.
“In light of the foregoing, please be advised that the company (Kingwood/Reunion Cay) is in violation of the laws and regulations of the Bahamas Investment Authority (BIA) and the laws of the Commonwealth of The Bahamas.
“Until permission is granted to invest and operate, and in the absence of an Investments Board permit, this letter serves as your legal notice to cease and desist all business activities by your agents and associates or by proxy.” John MacDonald, IVRC’s president, and others have voiced
concerns that Kingwood is hiding behind LRAOBB’s corporate identity to take control at West End following the previous government rejections.
However, Mr Scott, in his letter yesterday, asserted that Cleveland Duncombe, Candid Security’s principal, is leading LRA-OBB’s efforts to regain control. “I am assured that there are no foreign nationals working on-site or violating Bahamian law as you characterised it,” he said in his reply to the BIA chief.
“There are duly authorised representatives of my clients present as observers of the process as they are entitled to do as property owners. As you have, oddly, implicated [inserted] yourself into a private commercial dispute, apparently on behalf of Mr John MacDonald, please be advised that Mr MacDonald is attempting to pass off his employee termination legal obligations off to my clients.”
Mr Scott added that, to achieve this, Mr MacDonald and IVRC had “enlisted the assistance, I am instructed, of the Labour Department in Freeport, who have been trying to exert pressure on my clients to assume these responsibilities.
“I am confident you will agree that employment termination financial responsibilities reside with the outgoing employer up to the date of cessation
NOTICE
FLAMAR INVESTIMENTOS LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 210701 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
MARCELO PAGLIOLI LIQUIDATOR
NOTICE
Guidance Founders Ltd.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 211169 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
FERNANDO AUGUSTO DE BRITO RODRIGUES LIQUIDATOR
“The project consists of the reconstruction and rehabilitation of a stretch of approximately 51 miles of the Queen’s Highway, a main asphalt paved arterial road on the West End of Grand Bahama, about 47 miles of minor roads - collectors and settlement roads - various other capital and infrastructure works, and other road and infrastructure safety enhancements.” The latter is set to include “the installation of guard rails where required; the placing of traffic signs and road striping; the adoption of traffic calming measures; the placement of reflective road studs; and the construction of sidewalks in selected areas.
“To achieve the required production of asphalt for the road pavement, the company will install a new asphalt plant, which will be located approximately
at the midpoint between Eight Mile Rock and the West End, within a rural environment, without any neighbours living nearby, and its main access is by the Queen’s Highway,” the IDB Invest report added. Meanwhile, other contracts provoking significant social media discussion yesterday included the Ministry of Finance’s January 2025 decision to award a $120,000 deal to Sheltering Tree Consultants, a trauma, grief and mental health counselling provider headed by Dr Cherry Ferguson.
Tribune Business research found Dr Ferguson’s LinkedIn page also describes her as the executive assistant of more than 11 years’ standing to Neil C Ellis Ministries and Global United Fellowship. The former entity is headed by Bishop Neil Ellis.
of employment, both at common law and in accordance with sections 26-29 of the Employment Act. I am stunned that Labour Department officers are apparently unaware of this, I believe trite, formality,” he said.
“Astute as you are to the integrity of compliance with legalities, perhaps I can prevail upon you to counsel Mr MacDonald in the strongest terms.” As of late afternoon yesterday, LRA-OBB and Resorts Holdings had yet to fully complete the first phase of their plan to reclaim management control from IVRC.
Representatives for LRA-OBB and Resorts Holdings told this newspaper they are still waiting for written confirmation from the Ministry and Department of Labour that IVRC is responsible for paying its staff due severance and benefits. Rather than hire these employees directly, which could result in them waiving their entitlement to these payments from IVRC, they will instead be re-engaged as independent contractors.
But, amid the ongoing uncertainty at a key West End and Grand Bahama employer, Mr MacDonald yesterday asserted to Tribune Business that IVRC remains in management control at Old Bahama Bay. He said that “nothing” of note had occurred up until late afternoon and that it has “all been quiet”.
The IVRC president also argued that the question of severance pay and due benefits for staff has yet to arise because none have been terminated. “We don’t owe our staff any severance because we’ve not fired them,” he said. “If we let them go, we will give them severance. We’ve never not paid our employees.
“We don’t owe them any severance because we have not fired them. All our employees are on-site right now. There’s been no disruption to the resort, staff are entertaining the guests, we’re taking reservations and all vendors have been paid. All of our staff are still there. No one has been released.”
Denying that IVRC was seeking to offload its termination pay and other employees responsibilities on to LRA-OBB, Mr MacDonald said Candid Security and his security guards were effectively “sharing” duties and the security booth.
“That might also change,” he added. “The way we’re thinking, Candid Security is not interfering with us at all. They are giving extra security free of charge, which is a good thing as a guest... We’re staying with the status quo for now.”
Daniel Baker, an LRAOBB representative, yesterday hinted at frustration on the Old Bahama Bay owner’s part that it has not been able to complete
the first phase of its turnover plan as it waits for the go-ahead from the Ministry and Department of Labour on its independent contractor plan as well as who is responsible for the severance pay.
“We’re still waiting on the Ministry of Labour to get back to us. They’d committed to get back to us promptly,” he added. “Saturday, our intention was to complete the first stage of the turnover. We heard from the Ministry of Labour in Nassau that IVRC is fully responsible for the severance. They’d confirmed that verbally. We’re waiting for that in writing.”
Mr Baker argued that LRA-OBB was “going overboard” and “above and beyond” in trying to protect workers at Old Bahama Bay employed by IVRC. This, he explained, was why the resort owner intended to hire them as independent contractors rather than do so directly because the latter option could lead to waiving their entitlement to compensation from IVRC.
“IVRC is just a mechanism so the employees don’t waive their rights to severance,” Mr Baker said. “IVRC formally engaged them in direct employment and, if we offer them direct employment, they would have to resign and waive their severance. We’re trying to protect the employees
“We’re not here to fire people. We’re here to make it better, but presently there has to be separation from IVRC to move forward. There’s a safety net to meet them on the other side. It should be a boon for them.” More than 50 workers at Old Bahama Bay are thought to be impacted.
“We’re not doing this through an outside US company,” Mr Baker added. “We’re doing it through Bahamian laws and agents that have licences to do this in The Bahamas. We’ve gone overboard in trying to be compliant and be a responsible corporate citizen. We’re not only doing the right thing legally but, as business people, going above and beyond.”
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AQX & FLA LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 212353 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
ALEXANDRE QUESADA XAVIER LIQUIDATOR
NOTICE
Ferreira Participações Ltd.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 211220 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
Fabio Mathias Ferreira LIQUIDATOR NOTICE
NOTICE
THE RESILIENT MONKEY INTERNATIONAL LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 207855 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
DAULINS RENI EMILIO LIQUIDATOR
NOTICE
MATHEUS E FILIADOS LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 211887 B.
(In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General.
Dated this 31st day of March A.D. 2025.
MATHEUS GOMES LIMA LIQUIDATOR
Ombudsman helping with consumer protection push
“While the Central Bank’s 2024 directive focused on improving transparency in fee setting, the Central Bank also intends to have a public consultation later this year on a basic transactions account to support better access to banking services. The Central Bank will recommend changes to the Payments System Act to enable this and any other related financial inclusion measures.
“The Office of the Financial Services Ombudsman (OFSO) has allowed the Central Bank to have more direct access to mediate complaints raised against banks and payment services providers. The OFSO also provides targeted education that has helped resolve misunderstandings in many cases.
“Beyond this, the Ombudsman’s office is leading work to develop consumer financial protection legislation for
The Bahamas, with scope that could extend beyond deposit and credit products.” Elsewhere, Mr Rolle said lending by Bahamian commercial banks is expected to increase again in 2025 after more than doubling year-over-year in 2024, which is forecast to help reduce the sector’s $3bn in excess liquidity.
“We have begun to see growth in private sector credit which should absorb some of the excess liquidity. This process of reducing the overhang of liquidity, once sustained, will have impacts over several years. Over the medium-term, the Central Bank also believes that other interventions will be need to reduce liquidity,” the Governor confirmed.
“One of these is having the banks pay out larger amounts in dividends to remove some of the surplus resources from the system. Some inroads to reduce liquidity will also depend on the expected progress with
BRAZIL’S GOVERNMENT ADMITS TO SPYING ON PARAGUAY DURING BOLSONARO’S PRESIDENCY
By MAURICIO SAVARESE Associated Press
BRAZIL'S government said on Monday that its intelligence agency spied on Paraguayan authorities during the presidency of Jair Bolsonaro, the predecessor of incumbent Luiz Inácio Lula da Silva, a move that stopped in March 2023, three months into Lula's administration. The statement from Brazil's foreign ministry came hours after a report by news website UOL accused Lula's administration of spying on Paraguay. The ministry did not detail the specific Paraguayan officials targeted but said the surveillance stopped "as soon as the current administration became aware of the fact."
"President Lula's administration categorically denies any involvement in the intelligence action reported today against Paraguay, a member country of (trade bloc) Mercosur with which Brazil maintains historical relations and a close partnership," Brazil's foreign ministry said. Paraguay's Foreign Minister Rubén Ramírez Lezcano told journalists in Asuncion earlier on Monday that he has "no evidence that Brazil has attacked our system." Bolsonaro did not make comments about the case. The ministry also said the current director-general of its intelligence agency was waiting for Senate confirmation early in 2023, when the espionage was still active.
According to the UOL news report, Brazilian intelligence agents infiltrated Paraguayan computer systems to obtain information regarding tariff negotiations related to the Itaipu hydroelectric dam, one of the world's largest.
NOTICE
fiscal consolidation. This is expected to give the Central Bank more room to sell off more of its own holdings of government debt to the financial institutions, which would remove additional liquidity from the system.
“In 2024, total credit growth was more than double the 2023 amount. The flows to the private sector were broadly for consumer credit, mortgages and commercial lending. These trends are expected to further strengthen in 2025, as the economic outlook remains broadly positive,”
Mr Rolle added.
“Two other important, uplifting factors, are that loan delinquency rates or credit risks continue to subside, and the credit bureau is helping lenders to sort out potential new risks. The Central Bank expects the Government to be able maintain its access to the domestic credit markets.
“The Central Bank has worked closely with
Ministry of Finance to strengthen investor relations, allowing the ministry meet at least quarterly with domestic institutions to discuss market trends and fiscal developments. This is improving the transparency of the process.”
While giving full support to the likes of the Bahamas Financial Services Board (BFSB) and others in their efforts to grow and promote the Bahamian financial services industry, Mr Rolle said: “We believe that the competency of the regulator matters to the success of our jurisdiction, alongside keeping The Bahamas’ legal system up to date with international norms.
“In this regard, the priority through the supervisory process is to ensure that The Bahamas is both effective and compliant in its international obligations on tax transparency and financial integrity. In so far as product innovations are concerned, the Central Bank is very
receptive to viable ideas from industry, finding ways to ensure that these can be efficiently adopted while keeping the banking sector both on a sound prudential footing and consistently effective in how it manages financial crimes risks.
“Based on the industry’s feedback, we have to persist across the Group of Financial Services Regulators to minimise the duplication of compliance efforts that some entities face, and to achieve even greater harmonisation of our standards and guidelines, which feed into the cost of doing business.”
As for driving greater use of the Bahamian digital currency, the Sand Dollar, the Governor added: “The Central Bank’s Sand Dollar adoption unit is focussed on expanding the use of Sand Dollars throughout the archipelago and strengthening financial inclusion.
“Some of the targets include increasing the
Thousands of workers at nation’s health agencies brace for mass layoffs
By AMANDA SEITZ and MATTHEW PERRONE Associated Press
AS they readied to leave work Monday, some workers at the Food and Drug Administration were told to pack their laptops and prepare for the possibility that they wouldn't be back, according to an email obtained by The Associated Press.
Nervous employees — roughly 82,000 across the nation's public health agencies — waited to see whether pink slips would arrive in their inboxes. The mass dismissals have been expected since Secretary Robert F. Kennedy Jr. announced last week a massive reorganization that will result in 20,000 fewer jobs at the Department of Health and Human Services. About 10,000 will be eliminated through layoffs.
The email sent to some at the FDA said staffers should check their email for a possible notice that their jobs would be eliminated, which would also halt their access to government buildings. An FDA employee shared the email with AP on condition of anonymity, because they weren't authorized to disclose internal agency matters.
Nilzete Enterprises Ltd.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 212018 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 31st day of March A.D. 2025.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Roberto Deschamps, whose address is R Eduardo Nader, 589, BOM Abrigo – FNS, Florianopolis, SC, CEP: 88085350, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 30th day of April A.D. 2025 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 31st day of March A.D. 2025
Roberto DESCHAMPS LIQUIDATOR
percentage of the market using Sand Dollars for transactions, and broadening the acceptance of Sand Dollars at businesses nationwide. The strategy for increased adoption includes more widely enabling Government-to-People (G2P) and Business-to-People (B2P) payments, which will put individuals more directly in the reach of non-cash payments.
“The work to integrate the Sand Dollar platform into the Automated Clearing House (ACH) positions the Central Bank to make this push. We have seen a few businesses beginning to pay persons directly to their digital wallets over the ACH just as easy as they send funds to employees with bank accounts,” he said.
“The Central Bank is also targeting increased involvement of commercial banks, emphasising the importance of them accelerating efforts to provide their customers with digital wallet apps.”
anonymity over fears of losing future work on the issue.
Several of the office's advisory committees — including the National Vaccine Advisory Committee and others that advise on HIV/AIDs response — have had their meetings canceled.
Kennedy has criticized the department he oversees as an inefficient "sprawling bureaucracy" and said the department's $1.7 trillion yearly budget "has failed to improve the health of Americans." He plans to streamline operations and fold entire agencies — such as the Substance Abuse and Mental Health Services Administration — into a new Administration for a Healthy America.
Anand Parekh, who worked worked at the department during the Bush and Obama administrations and is now the chief medical adviser at the Bipartisan Policy Center, wonders what kind of analysis Kennedy has done to arrive at job cuts. He questioned how closely Kennedy could examine each of the agencies after spending just over a month as health secretary.
"One would hope that as they made these cuts, they really did a deep dive," Parekh said. "It's not quite clear from a transparency perspective how they got from where they were to here."
On Friday, dozens of federal health employees working to stop infectious diseases from spreading were told they'd be put on leave.
N O T I C E BERDAL INVESTMENT HOLDINGS LIMITED
(in Voluntary Liquidation)
Several current and former federal officials told the AP that the Office of Infectious Disease and HIV/AIDS Policy was hollowed out that night. Some employees posted on LinkedIn about the office emptying.
And an HIV and public health expert who works directly with the office was emailed a notice saying that all staff had been asked to leave. The expert spoke to the AP on condition of
"It puts a number of important efforts to improve the health of Americans at risk," said Dr. Robert H. Hopkins Jr., the former chair of the National Vaccine Advisory Committee, an advisory committee of the office. An HHS official said the office is not being closed but that the department is seeking to consolidate the work and reduce redundancies.
Also, as of Monday, a website for the Office of Minority Health was disabled, with an error message saying the page "does not exist."
Legal Notice
NOTICE
Notice is hereby given that the above-named Company is in dissolution, commencing on 1st April, 2025. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Lynden D. Maycock, Victoria House, Suite No. 4, 5th Terrace Centerville, P. O. Box EE-15953, Nassau, Bahamas.
All person having claims against the above-named Company are required on or before 30th April, 2025 to send their names and addresses and particulars of their debts or claims to the Liquidator of the Company or, in default thereof, they may be excluded from the beneft or any distribution made before such debts are proved.
Dated this 1st April, 2025
Lynden Maycock Liquidator
Legal Notice NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT (No.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act, 2000, (As Amended) NOTICE is hereby given that TAXI HOLDINGS LIMITED has been dissolved and that the name has been struck from the Register of Companies with efect from 1st April, A.D. 2025
ENERVO ADMINISTRATION LIMITED LIQUIDATOR
Montague Sterling Centre, East Bay Street P.O. Box N-3924 Nassau, Te Bahamas
HEALTH and Human Services Secretary Robert F. Kennedy Jr. speaks during an event announcing proposed changes to SNAP and food dye legislation, Friday, March 28, 2025, in Martinsburg, W. Va.
Photo:Stephanie Scarbrough/AP
Trump to roll out new tariffs that he promises will free the US from foreign goods
By The Associated Press
PRESIDENT Donald
Trump says Wednesday will be "Liberation Day"
— when he plans to roll out a set of tariffs he promises will free the United States from foreign goods.
The details of Trump's next round of import taxes are still sketchy. Most economic analyses say average U.S. families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes. But an undeterred Trump is inviting CEOs to the White House to say they're investing hundreds of billions of dollars in new projects to avoid the import taxes.
Here's the latest:
House committee weighs proof of citizenship proposal for voter registration
The House Committee on Rules is considering the Safeguard American Voter Eligibility Act, known as the SAVE Act.
Voting by noncitizens is rare, but Republican Rep. Bryan Steil told the committee that "one noncitizen voting in U.S. elections is too much." Top Republicans have said the SAVE Act "cements into law"
Trump's executive order last week that seeks a proof of citizenship requirement. A lawsuit challenging the order was filed Monday.
Democratic Rep. Joe Morelle spoke against the bill, saying it would force Americans into a "paperwork nightmare."
Voting rights groups gathered in Washington, D.C., on Monday to highlight that millions of Americans do not have easy access to their birth certificates, only about half have U.S. passports,
and married women would need multiple documents if they have changed their name.
Trump says administration likely will roll back auto efficiency requirements to 2020 standards
Trump said the subject came up when he met Monday with the chairman of automaker Stellantis, calling the 2020 requirements "a strong standard" and that tightening under President Joe Biden made "it impossible for people to build cars."
Biden prioritized improving efficiency as to cut back on harmful greenhouse gas emissions and to encourage automakers to transition to electric vehicles. Trump asserts the standards change would make no difference for the environment.
Trump says he's 'happy' that former daughter-inlaw and Tiger Woods are dating
Trump said Woods had called to tell him about the relationship with Vanessa Trump, the ex-wife of Donald Trump Jr., and the mother of their five children.
The golfer recently confirmed the once-secret relationship in a social media post.
Asked about the possibility of Woods becoming a member of the Trump family, the president said, "Let 'em both be happy. They're both great."
"He told me about it, and I said, 'Tiger, that's good. That's good.' And I'm very happy for both," Trump said.
Top Democrats say Senate GOP is using
accounting gimmick to cover cost of Trump tax cuts
"Enacting tax cuts for the wealthy will mean the Treasury has to borrow trillions of dollars more than it otherwise would, and billionaires win while working families pay the price," wrote Senate Minority Leader Chuck Schumer and the ranking Democrats on the Budget and Finance committees in a letter to GOP leadership.
As Senate Republicans push their framework forward, the Democrats said it is "an obscene fraud and the American people won't stand for it."
Trump previews first foreign trip
Trump says the trip will include stops in Saudi Arabia, Qatar and possibly the United Arab Emirates and "other places also."
Trump previewed the trip, which could come as soon as May, saying he wants to reward Saudi Arabia for its investment in the U.S. and says all three Gulf countries would be making commitments to creating jobs in the U.S. during his trip. He didn't detail the other potential stops.
Trump decries France's Marine Le Pen sentence and conviction
"That's a big deal. That's a very big deal," Trump said of the conviction and sentencing of the far-right leader in France. "I know all about it. And a lot of people thought she wasn't going to be convicted of anything."
A French court on Monday convicted Le Pen of embezzlement and
barred her from seeking public office for five years — a hammer blow to her presidential hopes and an earthquake for French politics.
"It sounds like this country," Trump said.
Trump discusses who he's considering for UN ambassador nomination
Trump says he's considering nominating former U.S. Ambassador to Israel David Friedman and his special envoy Ric Grenell among others to serve as U.S. Ambassador to the UN.
Trump pulled Rep. Elise Stefanik's nomination last week over concerns for Republicans holding their narrow majority in the House. Trump says he's had a lot of interest from people seeking to fill the role, calling it "a star-making position."
Former South Carolina Gov. Nikki Haley served in the role at the beginning of Trump's first term in office. She later unsuccessfully challenged Trump for the 2024 Republican presidential nomination.
Trump says his administration has opened a line of communication with North Korea
Trump, who met with leader Kim Jong Un three times in his first term, said Monday "there is communication" between the two countries. He called the line of dialog "important"
because the North is a nuclear power, and said he and Kim would "probably do something at some point."
The isolated country previously refused outreach from President Joe Biden's administration.
Judge pauses Trump administration plans to end temporary legal protections for Venezuelans
The order by U.S. District Judge Edward Chen in San Francisco is a relief for 350,000 Venezuelans whose Temporary Protected Status was scheduled to expire April 7. The lawsuit was filed by lawyers for the National TPS Alliance and TPS holders across the country.
Homeland Security Secretary Kristi Noem has also announced the end of TPS for an estimated 250,000 additional Venezuelans in September.
Chen said in his ruling that the action by Noem "threatens to: inflict irreparable harm on hundreds of thousands of persons whose lives, families, and livelihoods will be severely disrupted, cost the United States billions in economic activity, and injure public health and safety in communities throughout the United States."
Trump says he'd 'love' to run against Obama
The hypothetical matchup would require repealing the 22nd Amendment — which limits presidents to two terms — to bring about in reality.
The remarks come as Trump continues to muse
about seeking a third term in office. "They do say there's a way you can do it, but I don't know about that, but I have not looked into it," Trump told reporters about seeking a third term in the Oval Office.
He said of facing off against former President Barack Obama: "That would be a good one."
Trump gets boost from Kid Rock for executive order on ticket sales
Trump introduced Kid Rock as his friend, and said he's sometimes known as "Bob."
Trump said he didn't know too much about the issue, "but I checked it out and it is a big problem," he told reporters in the Oval Office.
The president signed an executive order Monday that he says will help curb ticket scalping and bring "common-sense" changes to the pricing for live entertainment events.
Kid Rock, whose real name is Bob Ritchie, wore a bedazzled red suit with American flag and eagle motifs. He said artists never see any of that money and that the issue isn't political.
Treasury Secretary meets with GOP senators at the Capitol on Trump tax cuts
Secretary Scott Bessent and the White House's chair of the National Economic Council Kevin Hassett arrived on Capitol Hill for an evening huddle as Republicans try to resolve differences on what the president has called a "big, beautiful bill."
Gold rises to another record as anxiety grips markets. Here’s what you need to know
By WYATTE GRANTHAM-PHILIPS AP Business Writer
MARKETS around the world continue to sink on fears about President Donald Trump's protectionist trade policies, and investors keep plowing money into gold, with futures hitting another record high Monday.
Trump's latest round of tariffs roll out Wednesday, which Trump has been calling "Liberation Day." Interest in buying gold can rise sharply in times of uncertainty, as anxious investors seek safe havens for their money. Gold prices have been spiking as Trump's tariff policies have started an international trade war that's roiled financial markets and threatened to reignite inflation for families and businesses alike. If trends continue, analysts say gold's price could continue to climb in the months ahead. But precious metals are also volatile assets — so the future is never promised. On Monday, the going price for New York spot gold hit a record $3,122.80 per troy ounce — the standard for measuring precious metals, which is equivalent to 31 grams. That's about $886, or 40%, higher than a year ago. The price of spot gold is up 19% since the start of 2025, per the data firm FactSet. By contrast, the stock market has tumbled. The benchmark S&P 500 is down 4.5% this year as even blue chip stocks have faded.
Gold futures also reached a record in trading Monday, hitting close to $3,157.40 an ounce. A lot of it boils down to uncertainty. Interest in buying gold typically spikes when investors become anxious — and there's been a lot of economic turmoil in recent months.
The heaviest uncertainty lies with Trump's escalating trade war. The president's on-again, off-again new levy announcements and retaliatory tariffs from some of the nation's closest traditional allies have created a sense of whiplash for both businesses and consumers — who economists say will foot the bill through higher prices.
Confidence began to slide at the start of the year for both U.S. households and businesses due to fears of inflation and tariffs. Those worries seem to only be worsening, as U.S. consumer confidence has been eroding for several months.
Over the last year, analysts have also pointed to strong gold demand from central banks around the world amid geopolitical tension, including wars in Gaza and Ukraine.
Advocates of investing in gold call it a "safe haven" — arguing the commodity can serve to diversify and balance your investment portfolio, as well as mitigate possible risks down the road.
Some also take comfort in buying something tangible that has the potential to increase in value over time. Still, experts caution against putting all your eggs in one basket.
PRESIDENT Donald Trump walks down the stairs of Air Force One upon his arrival at Joint Base Andrews, Md., Sunday, March 30, 2025.
