Artificial intelligence (AI) is no longer an emerging trend. Today, chatbots, fraud detection systems, credit scoring tools and predictive analytics engines are embedded in business processes. Like any innovation, AI is not without risk but it is not the challenge. The real goal is how to govern its responsible use.
This article outlines the core AI risk categories and offers a practical approach to building an internal AI risk management framework.
Understanding the risk
AI is not like traditional software. It learns from data and adapts over time.
Adaptability can introduce risk in five key areas:
* Bias and data quality
DEREK SMITH BY
* Cybersecurity vulnerabilities AI can be exploited through data poisoning, adversarial inputs or model theft. These attacks often bypass traditional cyber controls.
* Regulatory and legal exposure
Global regulators develop guidance and rules. The European Union (EU) AI Act, the US Executive Order on AI, and other regional efforts all signal stricter requirements for transparency, risk classification and human oversight.
not reactive. It should fit your operating model, risk appetite and regulatory landscape. Here are the core components:
* Catalogue AI systems
Could you document every use case? Know where AI is being applied, what data it consumes, what decisions it affects and who is accountable.
* Assign governance ownership AI risk management is not just a technical function. Legal, compliance, IT, operations and executive management should all be involved in governance.
testing and retraining. Build thresholds for when human intervention is required.
* Strengthen data governance
Data governance underpins AI integrity. Define standards for data sourcing, cleansing, anonymization and retention. Poor data practices equal poor model outcomes.
· Enable explainability and auditability
Choose models and tools that allow internal and external stakeholders to understand how decisions are made. This supports compliance and builds trust.
communications are triggered? Treat AI risks like operational risk. In short, structure is essential for AI to drive efficiency and insight. Scaling AI without guardrails will cause problems for businesses. A competitive advantage can be gained by investing early in risk management. The issue of AI governance isn’t just a compliance issue, but also a business one.
AI models reflect the data they are trained on. If that data is biased, the outputs will also result in discrimination, reputational harm and regulatory scrutiny.
Operational and reputational damage
* Lack of explainability In particular, complex machine learning (ML) models are ‘black boxes’. You cannot explain how they reached a decision. That limits auditability and poses challenges under data protection and fairness laws.
A misfiring AI model can lead to wrongful loan denials, faulty hiring decisions or flawed health diagnoses. These outcomes can damage trust and trigger litigation.
* Structure your response
A fit-for-purpose AI risk management framework should be proactive,
* Embed risk assessment into AI development
Before deploying an AI system, conduct a structured risk assessment. Consider model accuracy, bias, legal compliance and potential failure scenarios.
* Monitor for model drift and failures
AI models degrade over time. Set up regular review intervals for revalidation,
· Stay ahead of regulation
Monitor evolving laws. If you operate in multiple jurisdictions, create an internal map of applicable standards, including those from the EU, the US and the Caribbean.
* Plan for failure
Document response plans for AI incidents. Who investigates? Who reports? What customer
Florists endure tariff hikes, Mother’s Day sales drops
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
BAHAMIAN florists say they have endured a decline in Mother’s Day sales while having to pay suppliers more for their inventory. With sales down in comparison to previous years, florists said they are still experiencing a slight uptick in customer volume. However, they are suffering price hikes and tariffs that have been added on to their purchases from suppliers.
Marva Rolle, at Serenity Flowers, a local wholesaler, said with the tariffs being tacked on they will have to determine if their prices will also increase.
“We got sold out, but the tariff has been implemented in our invoices already,”
Ms Rolle said. “But we did do pretty good. We did sell out. [Our] prices basically is the same. Overall, with the season, it goes up a bit. It would never be the same as every week. Mother’s Day and Valentine’s is always an increase in prices. The price would always be a little bit more than normal because, of course, the supplier goes up.
“Since the tariff prices have been implemented, this season here, Mother’s Day, was the first actual invoice we would have gotten with that tariff change. So now, moving forward, when they look at the invoices again, that would determine if we need to go up, or if we could still remain with the best prices that we carry now.”
While some florists said they would have to pass those extra costs on to the customer, others such
as Toni Lewis, of Buds and Blossoms, said she would have to make some cuts.
“I guess considering the hike in prices, for example, the tariffs, especially that we have to endure and pay, prices have gone up and people are buying, but they are, of course, trying to bargain,” Ms Lewis said.
“Before the flowers get here, basically it’s hundreds of dollars you have to pay in order to get them here.
“In business, you pass it on to the consumer as much as possible. But in this kind of industry, and during this kind of period, I have to eat it as well. I will have to probably cut back on the amount of flowers that we put in arrangements. They will probably not get as much bang for their buck, but we will make still make it as beautiful as before.”
Michelle McSweeney, the New Island Florist’s principal, added: “The thing about it is, you could always do different things. Flowers is a thing where you could add more flowers, you could use less flowers. You could add more cheaper flowers. You could add inexpensive flowers. It depends. You could always work around and still give the customer the best for their money.”
Ms Rolle said, as a wholesaler, they often do business with other local florists who have remarked that Mother’s Day sales are down for them as well.
“Wholesale with Mother’s Day season was pretty good,” Ms Rolle said. “Wholesale normally is always pretty okay because we always sell out. But it was definitely different. Even with a lot of customers that were coming in. They
were mentioning that it’s not so many orders they have. “And it’s a little different. I know we sold out, however, because we are wholesalers. We get to meet all different types of florists, and so a lot of them have been saying it wasn’t as busy as the prior year.”
“Flowers are always in demand. That’s one thing I noticed,” Ms Rolle added.
Smith Jr a governance, risk and compliance professional for more than 20 years with a leadership, innovation and mentorship record. He is the author of ‘The Smith is a certified antimoney laundering specialist governance credentials. He @tancy.com
“So I feel like business wouldn’t change much, honestly, because even during the pandemic business was always still going strong. So, I don’t know if it’s going to change much, because flowers are still needed for weddings and just every day arrangements. So I don’t think it’ll change much.” Despite price challenges, florists said cutting employees is not an option and they will continue to explore opportunities to cope with price increases.
Push to close Grand Lucayan’s sale for May 15 HOA signing
six-resort property akin to Atlantis and Baha Mar.
“I think they’re coming to a head on this,” one source told this newspaper of talks between the Government and Concord Wilshire. “They’ll be ready to sign on the 15th. All the legal documents are under review. Generally, it’s all good. Yes, it’s what Grand Bahama and Freeport need, yes, they do have the money, and, yes, they have the partners.”
Confirming that companies spearheaded by Australian professional golfer, Greg Norman, will be involved in designing and managing the new resort’s golf courses, the source said Concord Wilshire has involved numerous partners for the planned resort properties that include hotels targeted at casino, golf, marina, fractional and timeshare ownership, and other tourism niche markets.
“It’s a true mixed-use resort,” they said. “The first time Freeport has had that concept all managed under one head. There are six
different resorts - the golfing resort, gaming resort, a timeshare component including fractional. It’s the first time that Freeport will have a true, distinct, varied destination that we have looked for for so long, and not depend on one single entity. “The idea is that Concord Wilshire will have their own money, self-finance, and bring the best brands. They are not only talking it, but actually doing it. It’s an Atlantis merged with Baha Mar, but dialled in for Freeport in a way that is proportionate but required. It gives the city the sustainability it’s not had for years.”
Resolving the Grand Lucayan’s fate, and securing a buyer who could do for Freeport what the late Sir Sol Kerzner achieved for Nassau and the wider Bahamian tourism product, is viewed as vital to reviving both the second city and wider Grand Bahama economy through providing the necessary room inventory to attract greater airlift to the island.
Many Grand Bahama residents and other
observers, sceptical after both the Royal Caribbean/ ITM Group and Electra America purchase offers foundered, will likely only believe a Grand Lucayan deal has been achieved when they see it. However, Among understands a sales agreement has been signed, and a deposit paid and in place, for many months.
Tribune Business previously reported that the purchaser is represented by Thomas Dean, of the Dupuch & Turnquest law firm, while attorney Donna Harding-Lee is acting for Lucayan Renewal Holdings, the Governmentowned special purpose vehicle (SPV) that was used to acquire the resort in September 2018 from Cheung Kong Property Holdings, the real estate arm of Hong Kong conglomerate, Hutchison Whampoa.
The Grand Lucayan was acquired from Cheung Kong (CK) Property Holdings by the Minnis administration for $65m to head-off the resort’s threatened closure by its former owner.
Efforts to find a private buyer for the resort,
including the Royal Car-
ibbean/ITM Group deal submitted to the former administration and the bid by Electra America Hospitality Group, have thus far failed to secure a purchaser. And, in the meantime, the Bahamian taxpayer has been forced to subsidise the Grand Lucayan’s annual losses to sustain its operations.
The 2024-2025 Budget provides a $17m subsidy for the resort and its immediate holding company, Lucayan Renewal Holdings, which matches the current fiscal year’s allocation. However, the $17m provided for the 2023-2024 Budget year was virtually exhausted at end-March 2024, with some $16.632m having been spent, meaning that Bahamian taxpayers will almost certainly incur cost overruns.
And, given that the Government provided Lucayan Renewal Holdings with $17.882m in the 2022-2023 fiscal year, the resort is set to cost taxpayers close to $54m by the time the upcoming fiscal year closes at end-June 2025. Given this subsidy run rate, taxpayer exposure to the Grand Lucayan now likely exceeds $200m with much of this sum unlikely to be recovered via a sale.
Among the projects that Concord Wilshire has been involved with is the development of the Diplomat Golf Resort on Hallandale Beach, Florida, featuring 938 hotel keys and 250 residential condo units in partnership with Greg Norman’s company, which handled the golf course revamp. The entire project involved a $548m revamp.
Other Florida resort developments include the Diplomat Resort on Hollywood Beach, featuring 1,000 hotel keys and 200,000 square feet of meeting space, in a $535m investment that also had connections to Atlantis owner, Brookfield.
Ex-chairman returns as Gaming Board secretary
A FORMER Gaming Board chairman has returned to the casino and web shop regulator as its secretary with effect from May 1, 2025.
The Board, in a statement, said Terah Rahming, who served as its chairman under the last Christie administration from 2014 to 2017, will take control of its management and day-to-day operations. A certified public accountant and anti-money laundering specialist, she is also an exchief operating officer for Jarol Investments, which trades as the Chances web shop chain.
“It is a privilege to return to the Gaming Board in this capacity,” Ms Rahming said. “I remain committed to strengthening our regulatory systems and industry partnerships as we work to position The Bahamas as a global leader in transparent and sustainable gaming.”
She replaces Ian Tynes, who leaves the Gaming Board after 40 years’
service. He started with the regulator as a trainee inspector in 1985, and held posts in technical compliance, operations and information technology (IT) before becoming secretary in 2019.
“Mr Tynes’ legacy is one of dedication, technical excellence and lasting impact on the Gaming Board and the nation,” said Dr Daniel Johnson, the Gaming Board’s executive chairman.
ROYAL CARIBBEAN NAMES PI BEACH CLUB’S FINANCE CHIEF
ROYAL Caribbean has named Nolan Knowles as director of finance and accounting for its Royal Beach Club project that is set to open on Paradise Island this December.
The cruise line, in a statement, said Mr Knowles is an experienced finance director who specialises in supply chain and production management.
“We are delighted to welcome Nolan to the Royal Beach Club Paradise Island team. His extensive experience in hospitality and finance will be invaluable as we shift from construction to operations in the coming months,” said Philip Simon, president of Royal Caribbean Bahamas.
“His leadership and expertise will undoubtedly contribute to the success of our first beach club experience.”
Mr Knowles most recently served as director of finance for Brookfield Hospitality at the Atlantis Resort and Casino.
NOLAN KNOWLES
TERAH RAHMING
Business hosts PM to pre-Mother’s Day floral
A well-established Law Firm is accepting applications for the following position:
Legal Administrative Assistant
The primary purpose is to provide legal support to attorneys by performing legal research, drafting documents, managing case files, and communicating effectively with clients.
THE Prime Minister made a personal visit to Emily Marie Floral Studio to both recognise Bahamian entrepreneurship and the vital role small businesses play in the Bahamian economy.
Owned and operated by Demetria Cox-Moss and Jonae Reckley, Emily Marie welcomed the Prime Minister on Friday, May 9, for a hands-on floral arrangement session in time for Mother’s Day.
During the visit, the Prime Minister created a custom floral arrangement for his wife, Ann-Marie Davis, along with special arrangements for his daughters and sister.
The workshop experience, held at The Balmoral Club, was designed to highlight the importance of supporting small businesses that bring creativity, family values and community connection to life through their work.
Named in honour of its principals’ mother and grandmother, Theresa ‘Emily’ Fox and Marie Ernestine Strachan, Emily Marie Floral Studio has grown from an idea for a candle business into a floral and event design company, basing its roots in passion, heritage and resilience.
“We were honoured to host the Prime Minister and share the heart behind Emily Marie. This visit not only celebrates our small business but shines a light on the countless entrepreneurs across The Bahamas who are creating meaningful opportunities every day,” said Demetria CoxMoss, co-owner of Emily Marie.
“Emily Marie is more than a business to us; it’s a tribute to the women who raised us and a testament to what’s possible when passion meets purpose. We’re grateful for the support of the Prime Minister and the wider community as we continue to grow,” added Jonae Reckley, co-owner of Emily Marie.
Mr Davis said: “Small businesses like Emily Marie are the heartbeat of our economy. They create jobs, keep our culture alive and inspire the next generation of Bahamian entrepreneurs.
“It was a pleasure to spend time with these talented women and experience first-hand the passion they bring to their craft.”
Emily Marie Floral Studio offers bespoke floral arrangements, event design and creative workshops.
THE PRIME Minister Philip Davis KC poses for pictures during a personal visit to Emily Marie Floral Studio to both recognise Bahamian entrepreneurship and the vital role small businesses play in the Bahamian economy.
Delaporte Point battle over Airbnb rental ban
to Delaporte Point, and other gated communities may well experience similar tensions between owneroccupiers and persons acquiring homes as investment properties to rent out.
A spokesman for the 11-strong homeowner group declined to comment on the basis that the matter is still before the Supreme Court. However, Sonya Alvino, April Ann Hubal, Richard Touchette, Catherine Yaque, Kenneth Cardillo, Rebecca Ganinza, Loretta Garrison, Tammy Maiscotte, Jukka Efraimsson, Peter Grantham and Shri Klessig asserted that the restrictions have caused them “financial hardship”.
They are seeking 15 separate Supreme Court declarations and Orders, including that Delaporte Point Ltd “has no power, right, authority or jurisdiction to impose any restriction” on how they, their guests and visitors use their properties other than the community’s shared amenities or common spaces. They are also asserting that rights vested in themselves as homeowners
must “extend to and be enjoyed” by their tenants. Other declarations largely seek to have all Delaporte Ltd’s restrictions determined as “wrongful and unlawful” by the Supreme Court, with all fines and penalties impose for short-term rentals “set aside and discharged”. The 11-strong homeowner group, in their Supreme Court standard claim, asserted that as owners they “have the right... to rent their house for any such period as they solely determine in their absolute discretion”.
They alleged that the dispute’s roots date back to July 2021, when an extraordinary general meeting (EGM) of Delaporte Point homeowners discussed limiting short-term rentals to a minimum 13-night duration. Prior to the meeting, the opinion of homeowners on short-term rentals was canvassed, but the 11-strong group asserted that the “poll” results and outcome were never made public.
Delaporte Point Ltd allegedly announced its decision to impose the ‘13night’ minimum one month later, on August 4, 2021, and said it would be drafting rules and regulations
to enforce this. These, including the $1,000 fine for violating short-term rental restrictions, were introduced in March 2022.
The 11-strong homeowner group asserted that it had “no input and were not consulted” on the new rules, which were allegedly expanded in October 2023 to include a $400 “per stay” charge and the wearing of badges and bracelets for short-term renters wishing to use Delaporte Point’s amenities. And, in a further change the following months, short-term renters and their guests had to exit these amenities if there was “overcrowding”.
“In July 2024, the defendant purported to impose a 90-day minimum rental period for the short-term rental in the community effective September 1, 2024, unless it can be shown that the rental is an existing booking by August 1, 2024,” the homeowner group alleged.
“No new or existing short-term rentals (less than 90 days) were to be allowed after September 1, 2024. The effect of the purported decision is to eliminate short-term rentals of houses in the community... The new rental rules and restrictions were made and designed with the sole intent of eliminating shortterm rental of houses in the community and have imposed financial hardship on the claimants as owners of houses.
“Moreover, the rules were made by the defendant [Delaporte Point Ltd] with the sole intent of depriving each of the claimants of their right to enjoy their freedom of ownership of their property, and amounts to an unlawful and wrongful deprivation of their constitutional and fundamental rights to their property.”
The 11-strong homeowner group added that the short-term vacation rental prohibition, and associated rules, are tantamount “to the imposition of a restrictive covenant in the deeds and conveyances” to their respective homes after they had purchased them. And they asserted that the absence of such restrictions when they bought into Delaporte Point meant each had a legitimate expectation they could engage in vacation rentals.
Delaporte Point Ltd, though, in its defence asserted that “reasonable consultation” was carried out over restrictions that were “voted on by the community”. It added that the 13-night minimum was designed to “reduce the transient non-domestic and commercial hotel-type use” of the community’s amenities, while the $1,000 fine was intended “as a deterrent and to encourage compliance with the rules”.
The homeowners association, though, “denied that the effect of the decision is to eliminate short-term
rentals of houses in the community”. Rather, it said the move “is to eliminate use of the amenity areas, including the access roads” in the western New Providence gated community.
“The rules were reasonably enacted to restrict the access for purposes of domestic use, and to address the significant impact that transient hotel type rentals have on the use, enjoyment and character of the amenity areas as well as the security risks and increase in cost for the provision of services,” Delaporte Point Ltd asserted.
“Airbnb and hotel type rentals of the type restricted by the rules and regulations imposed by the defendant have not been ‘a part of the custom and usage’ of Delaporte Point. The defendant has long had the authority to implement rules to govern the use of the amenity areas including the access roads.....
“In fact, many of the properties within Delaporte Point were being used for commercial hotel type activities which were inconsistent with the requirement that access over the roadways and use of the amenity areas be for domestic purposes and not otherwise.”
Asserting that it has the authority to implement the rules complained about, Delaporte Point Ltd added: “The defendant maintains that the restrictions and regulations are reasonable
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that we, AVERIL WHYTE of Oakes Field, New Providence, Bahamas, mother of ASHTON SANFRED WILLIAM ROLLE intend to change my child’s name to ASHTON WILLIAM WHYTE. If there are any objections to this change of name by deed poll, you may rite such o ectio to the Chief Passport Offcer, P. O. Box N-3746, Nassau, The Bahamas or at deedpoll@bahamas.gov.bs no later than thirty (30) days after the date of the publication of this notice.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, ELTON DUKE SMITH of P. O. Box N-7992, Norman Road, Coral Harbour, New Providence, Bahamas intend to change my name to ELTON DUKE KISMET. If there are any objections to challenge the 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 the publication of this notice.
and necessary to ensure the community’s security, and to mitigate risks associated with transient occupancy, which has led to dangerous and disruptive behaviours and unauthorised use of the amenity areas.”
However, the 11-strong homeowner group, in an October 2, 2024, letter to all other Delaporte Point residents, disputed the Association’s “legal authority to impose arbitrary fines and fees” as well as the short-term rental restrictions. It had allegedly sought to impose fines ranging from $1,000 to $20,000 on them, and given them two weeks to pay.
They also argued that the fines and penalties violated the Companies Act’s section 280, which prohibits companies from taking action which is oppressive, unfairly oppressive or unfairly disregards the interest of shareholders such as the members of Delaporte Point Ltd.
However, Delaporte Point Ltd hit back eight days letter on October 10, 2024, by asserting: “Despite a clear annual general meeting (AGM) mandate, a small minority of townhouse owners continue to disregard the rules by repeatedly advertising their properties for as few as seven nights, openly defying the decisions made by a clear majority of the Delaporte Point owners.
“A few defiers are even advertising two or threenight minimum stays on platforms like Airbnb and VRBO..... Rather than electing to comply with the mandate of the AGM, 11 owners in our community, who have been engaged regularly in short-term rentals over the recent years, who are disgruntled and do not want to abide by the community rules, have elected to take legal action against Delaporte Point Ltd.”
The 11-strong homeowner group, though, accused Delaporte Point Ltd of seeking “to shame and ridicule us for initiating legal action concerning our rights as homeowners and the newly-imposed rules and restrictions”. They added that a US attorney specialising in homeowners association law, as well as Raynard Rigby KC, has been hired to represent them.
‘Room for more’: Bahamas 3.4% growth beats IMF’s
They spoke out after the Bahamas National Statistical Institute (BNSI) unveiled data showing the Bahamian economy grew by 3.4 percent in real terms during 2024. That estimate, which strips out the impact of inflation on the data, was some 1.4 percentage points higher than the International Monetary Fund’s (IMF) estimate for last year.
The Institute’s figures, if accurate, would place Bahamian economic output last year some $195.44m, or almost $200m, higher than that projected by the IMF.
The former’s data shows that the Bahamian economy, following its post-COVID reflation and recovery, expanded by 38.9 percent in four years or almost $4bn, growing from $10.158bn at the pandemic’s peak to $14.108bn in 2024.
Mr Myers and Mr Goudie, though, argued that further reforms are needed for the Bahamian economy to maintain a consistent annual growth rate of between 3-4 percent. That is the range previously cited by the IMF if The Bahamas is to both fully absorb every summer’s 5,000 high school leavers into its workforce and slash the existing 8-9 percent unemployment rate in half.
“There’s still a lot more GDP; there’s more room for growth,” Mr Myers told this newspaper. He argued that this could be achieved by speeding up, and making more efficient and transparent, approval processes within both the Government and private sector, as well as ensuring that Bahamian companies get the skilled staff they require through local training first and, if not, then a more flexible
and liberalised Immigration policy.
“There’s a lag in the public sector,” the former Chamber chair added. “The whole process - Investments Board, Department of Environmental Planning and Protection, Ministry of Works, Town Planning, Health, Central Bank - all of it takes too long.
“There’s a lot more room for growth if we can get some efficiency in these areas, and if we can improve and reduce deficiencies in the public sector in getting permits and approvals, and getting these projects moving. I’m being told by countless developers it’s all very slow. If we have those projects moving, crikey, I think unemployment will be down to 3-4 percent.”
Unemployment is currently hovering between 8-9 percent, but Mr Myers conceded that delays and bureaucracy do not solely exist in the public sector.
“It’s not just the Government; it’s the banks,” he told Tribune Business. “Just getting a bank account open in this country is like pulling teeth.
“The nonsense we have to go through as Bahamians. The pain and nonsense you have to go through to get a credit card, a bank account, it’s painful. We have to be able to streamline our systems. I’m not just blaming the public sector; it’s the private sector, too.”
Asserting that The Bahamas has “still got a long way to go” despite the improved GDP growth numbers, Mr Myers added that with the official unemployment rate down in the high single digits “anybody, in my opinion, who wants a job has a job. Anybody who is
employable has a job. But we still need more people. We have a tremendous job finding qualified people.
“I think that GDP growth can continue to grow as long as we can continue to get more people either through the education side or bringing them in through education,” he added. “To me, the GDP numbers are great, fantastic news. We’re headed in the right direction.
“Now focus on career development, bringing skilled people in. If we cannot find them, liberalise Immigration policies and bring skilled people in to drive that growth. These are all big achievements, but that is the right thinking. It’s a lot easier to say than do; I get that. I’m not saying that’s not a difficult task for any administration or government.
“But if we can start to do that it will put The Bahamas in a very good position for socio-economic progress,” Mr Myers continued. “It’s absolutely a step in the right direction. Give the private sector the opportunity to create jobs. Make it easy. The ease and cost of doing business; make it easier and less to drive that growth. Don’t kill us with the high cost of doing business and arduous, lengthy processes.”
Mr Goudie, meanwhile, described the Institute’s GDP figures as “perfect” and “so amazing”. While not wishing to cast doubt on the GDP numbers, he said: “I just find that number amazing. I’m not saying it’s not true, don’t get me wrong. That’s incredible, but it’s great.”
A private sector representative on the National Tripartite Council, which
deals with all labour-related matters in The Bahamas, and a key advocate for the National Apprenticeship Programme that is soon to launch once funding is received from the Government, Mr Goudie argued that the latter is essential to providing the skilled workforce needed to maintain economic growth at 3.4 percent per annum.
“We need people with skills,” he said. “The way to give them skills is through apprenticeship programmes because a lot of them are not getting that at school. If we’re growing we need to produce skilled people. It makes sense now. It’s more urgent right now. If we’re growing at 3.4 percent we need skilled people.
“The fact the Apprenticeship Programme is supposed to take off this year, then we’re doing the right thing. That’s what the National Tripartite Council is all about’ creating employment and creating people with skills. We’re on the right track, the country is on the right track, growth is up.”
The Institute, in unveiling the advance GDP growth estimates for 2024, said:
“According to the 2024 annual estimates, economic activity in the Bahamas increased by 3.7 percent in nominal terms and by 3.4
percent in real terms when compared to 2023.
“This real growth was evident in a number of industries, led by wholesale and retail trade, motor vehicle repair and the construction industries, which were responsible for the lion’s share. In 2024, the value added created through the production of goods and services in the Bahamian economy was estimated at $15.8bn in nominal prices and $14.1bn in real prices.”
Explaining how the GDP estimates were derived, the Institute added: “The production approach to GDP, which is derived from the gross value added (GVA) by industry, showed an increase in real growth across most industries. The industries indicating the most substantial increases in 2024 were the following.
“Wholesale, retail trade and motor vehicle repairs increased by $206 (15 percent). This increase is mainly connected to the growth in household consumption.
Construction increased by $146m (19 percent). This industry increased as capital investment within the country continued to grow as evidenced by a rise in the imports of construction materials.
The Institute added that the expenditure approach to GDP, which bases its calculation in final consumption, investments, exports and imports, “indicated a real growth in a number of sectors in 2024. Gross fixed capital formation showed an increase in 2024 compared to 2023 of 21 percent.
“This was led by the building and infrastructure sector, with an increase of $341m (16 percent), followed by machinery and transportation equipment, which grew by approximately $291m (38 percent). Household final consumption expenditure experienced real growth in 2024 of almost $252m (3 percent) when compared to 2023.
“Exports of goods and services increased by $287m (6 percent) in 2024 compared to 2023. This sector includes the contribution to the economy by tourists, which includes both stopover and cruise visitors’ spending and represents the majority of this component.”
“Information and communications increased by $97m (21 percent), as implementation and increased use of digital technology expanded in the Bahamian economy. Electricity and gas, water supply and sewerage increased approximately $64m (18 percent) when compared to 2023. This real growth can be mainly attributed to lower fuel costs in 2024.”
Brothers win $147,500 in family auto shop bust-up
events leading up to the brothers’ departure.
“A staff meeting called to discuss these issues escalated into a heated and acrimonious exchange between the plaintiffs and the defendant [Mr Frazier], during which the defendant allegedly fired both plaintiffs and told them to leave the shop. Matters became even more heated, with allegations of threats of violence and a narrowly-averted physical altercation, resulting in the plaintiffs exiting the shop and not returning.”
Both brothers pursued claims for unfair and unlawful dismissal, while Mr Frazier argued that “they were summarily dismissed for gross insubordination, consisting of stealing in the one case and assault in the other case”. However, he contradicted this assertion - which was contained in his legal pleadings and central to his defence - at trial by instead alleging the duo walked off and abandoned their jobs.
Sterlyn, who was employed in a supervisory position at Ron’s Electric Motors, and had been with the company for 18 years at the time of his dismissal, alleged that there was an incident at the company on Friday, February 3, 2017, involving claims that Mr Frazier’s nephew, Jermaine Stubbs, had stolen “some items from the store”.
“It appears that a mechanic, known only as “Froggie”, who worked at the rear of the shop, saw Jermaine (who is also an employee) throw something over the fence,” Justice Klein said of Sterlyn’s evidence. “Froggie alerted the defendant, who came to the store and confronted his nephew. “The defendant [Mr Frazier] then proceeded to ‘beat’ Jermaine with a stick and brought him inside the workshop with the items recovered from behind the fence. These were said to include copper and lead wires and bearings. The material included wires that the first plaintiff [Sterlyn] was preparing for a job, and he said he questioned how Jermaine got ‘his’ wires.
“The defendant questioned him about the items and later showed him surveillance footage from that afternoon. That footage showed him and Kenny inside the workshop for the most part, but he explained that at some point he stepped outside, and it must have been then that Jermaine moved the items off his desk.”
Justice Klein added: “The matter rested there until Monday morning, when the defendant summoned the staff and once again pulled up the surveillance tape. This time, the defendant alleged that Jermaine admitted that it was the first plaintiff [Sterlyn] who had put him up to the theft.
“The defendant confronted the first plaintiff about this, indicating that the footage showed him depositing something in the area where Jermaine had stashed the material. The first plaintiff said that this was a drink bottle. The defendant then pressured the first plaintiff to accept responsibility for putting Jermaine up to the theft, and tried to get him to sign something to that effect.
“When the first plaintiff refused, he was told in profane language that he was fired and to get out, which led to a vitriolic exchange between him and the defendant. The second plaintiff [Shavado] then had an exchange with the defendant, which quickly escalated into an argument, and ‘rushed’ towards the defendant after the latter reached for an object where his firearm was normally kept,” the judge added.
“He was held back by the first plaintiff and other employees, and after this the brothers left the establishment. The first plaintiff did not return to the shop, except for one occasion and that was to collect a National Insurance form.
“During cross-examination, it was suggested to the first plaintiff that he was a part of the stealing ring, and that the activities were to supply a side-business operated by the brothers in direct competition with the defendant’s. There was also a suggestion, based upon an
allegation in the defendant’s witness statement and the evidence of other witnesses that the first plaintiff admitted at the Friday meeting that he either stole the items, or directed Jermaine to remove the material. He denied both allegations.
“In re-examination, he indicated that of the nine to ten persons present at the Friday meeting, the persons called as witnesses for the defendant were all family members of the defendant, save for Stanley, whom he described as the defendant’s ‘gofer’.”
Shavado, who largely backed his brother’s account, “was also asked about whether he had a Business Licence for the repair of electrical motors and generators. He admitted that he obtained a Business Licence in 2014 for that kind of business, but it was a home business operated after work hours to make side money. It was also suggested to him that he abandoned his job and was never fired. He maintained that he was fired”.
Mr Frazier, in his witness statement, admitted that he “hit” his nephew and reprimanded him for stealing, but asserted that as he was inexperienced and only employed for eight he had to have been told which items to take. He alleged that Sterlyn admitted to this, and that other employees intervened to keep himself and the brothers from fighting.
US-China tariff talks to continue Sunday, an official tells AP, as Trump touts ‘great progress made’
Legal Notice
International Business Companies Act (No. 45 of 2000)
Lyra Company Ltd. (the “Company”)
International Business Companies Act No.45 of 2000
Lyra Company Ltd. (the “Company”)
hereby
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of Lyra Company Ltd., has been completed, a Certifcate of Dissolution has been issued and the Company has therefore been struck of the Register. Te date of completion of the dissolution was the 24th day of April. 2025. NOTICE
Legal Notice NOTICE
International Business Companies Act No. 45 of 2000
TINOVAL LIMITED (the “Company’)
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the has been cate of Dissolution has been issued, and the Company has therefore e date of completion of the dissolution was the 21st Legal Notice NOTICE
International Business Companies Act No. 45 of 2000
PLANCTAE LIMITED (the “Company’)
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of PLANCTAE LIMITED has been completed, a Certifcate of Dissolution has been issued, and the Company has therefore been struck of the Register. Te date of completion of the dissolution was the 22nd April, 2025.
Noting that surveillance footage was inconclusive, Justice Klein said an employer has the right to summarily dismiss a worker for cause - including gross misconduct - if they “honestly and reasonably believed on a balance of probability” that the employees is guilty once “a reasonable investigation” has been conducted. But he noted, in particular, the contradiction and inconsistency between Mr Frazier’s pleadings that the brothers were summarily terminated for cause and his witness statement/trial evidence in which he maintained “that they were not fired but abandoned their employment”.
Describing this as “perplexing”, Justice Klein said the notion that the brothers abandoned their jobs undermined Mr Frazier’s contention that he had a “reasonable belief” Sterlyn was guilty of the theft that supposedly underpinned his dismissal.
“It is clear, also, that no reasonable investigation was conducted. Apart from the brief confrontation and questioning on the evening of Friday, February 3, 2017, there was no further investigation, and the meeting of Monday could not be described as part of any reasonable investigation,” the judge added.
“Notably, in an affidavit filed with the court, the defendant indicated, for example, that he did
a search of the Business Licence section after the action was filed against him and discovered that the second plaintiff had a business Licence, namely Smith’s Electrical Motors and Generator, which was apparently opened from 2014.
“It will be recalled that the operation of a rival business was relied on as part of the reason for the suspicion for the theft. But this was only being checked several years after the dismissal/departure of the plaintiffs, and then for the purposes of litigation,” Justice Klein continued.
“The defendant clearly did not conduct any reasonable investigation to ascertain whether his beliefs were justified. For all of these reasons, I therefore find that the first plaintiff was summarily and wrongfully dismissed.” He also found Mr Frazier’s explanation for Shavado’s termination “not plausible” and found the latter, too, had been wrongfully dismissed. As a result, Justice Klein awarded Sterlyn $46,800 for wrongful dismissal, $39.600 for unfair dismissal and $3,900 in vacation entitlement for a total $90,300, while Shavado was given $57,200. This consisted of $19,500 for wrongful dismissal, $34,500 for unfair dismissal and accrued vacation entitlement of $3,200.
By PAUL WISEMAN, DIDI TANG and JAMEY KEATEN Associated Press
PRESIDENT Donald Trump said "great progress" was being made in ongoing U.S.-China talks over tariffs menacing the global economy, and even suggested a "total reset" was on the table as tariff negotiations are set to continue Sunday in Switzerland. No major breakthrough was announced in discussions that lasted over 10 hours between U.S. officials, including Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and a delegation led by Chinese Vice Premier He Lifeng. Still, Trump struck an upbeat tone. "A very good meeting today with China, in
Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner," the president wrote on his Truth Social platform. "We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!" He gave no further details, and officials at the White House also offered little information during and after the opening day of discussions. Trump's post followed an official telling The Associated Press that talks would continue Sunday. The official requested anonymity because of the sensitivity of the discussions, which could help stabilize world markets roiled by the U.S.China standoff. They've been shrouded in secrecy,
Legal Notice
NOTICE
International Business Companies Act No. 45 of 2000
Tower Baron Limited (the “Company’)
and neither side made comments to reporters as they left. In an editorial late Saturday, China's official Xinhua News Agency said the talks had come about "at the request of the U.S. side" — noting an earlier point of contention — and said China agreed to them "after taking full account of global expectations, national interests and appeals from U.S. businesses and consumers."
"Whether the road ahead involves negotiation or confrontation, one thing is clear: China's determination to safeguard its development interests is unshakable, and its stance on maintaining the global economic and trade order remains unwavering," Xinhua said.
"Talks should never be a pretext for continued coercion or extortion, and China will firmly reject any proposal that compromises core principles or undermines the broader cause of global equity," it added.
Several convoys of black vehicles left the residence of the Swiss ambassador to the U.N. in Geneva, which hosted the talks aimed at de-escalating trade tensions between the world's two biggest economies. Diplomats from both sides also confirmed that the talks took place.
The opening day of negotiations were held in the sumptuous 18th-century "Villa Saladin" overlooking Lake Geneva. The former estate was bequeathed to the Swiss state in 1973, according to the Geneva government. Trump's assessment aside, prospects for a major breakthrough appeared dim when the talks opened. Still, there is hope that the two countries will scale back the massive taxes — tariffs — they have slapped on each other's goods, a move that would relieve world financial markets and companies on both sides of the Pacific Ocean that depend on U.S.China trade.
Legal Notice
International Business Companies Act (No. 45 of 2000)
Lynx Ltd. (the “Company”)
NOTICE
International Business Companies Act No.45 of 2000
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the cate of Dissolution has been issued, and the Company has therefore e date of completion of the dissolution was the 23rd
Lynx Ltd. (the “Company”)
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Act, No.45 of 2000, the Dissolution of Lynx Ltd. has been completed, a Certificate of Dissolution been issued and the
Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, No.45 of 2000, the LEMONICE ENTERPRISES cate of Dissolution has been issued and the Company Te date of completion of the dissolution was the
Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of Lynx Ltd., has been completed, a Certifcate of Dissolution has been issued and the Company has therefore been struck of the Register. Te date of completion of the dissolution was the 25th day of April. 2025.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000, notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certifcate of Dissolution issued by The Registrar General on the 27h day of March, 2025.
Dated the 12th day of May A.D., 2025.
D.A. Bates Liquidator of
Inigo, Melanie Liquidator
Inigo, Melanie Liquidator
Puerto Rico seeks to lure manufacturing to boost its economy as Trump’s tariff war deepens
By DÁNICA COTO Associated Press
A GLOBAL trade war
is offering Puerto Rico hope as the U.S. territory attempts to strengthen its fragile economy.
Government officials are jumping on planes to try and convince international companies to relocate their manufacturing plants to the island, where they would be exempt from tariffs.
Any relocation would be a boost to Puerto Rico's shaky economy as the government emerges from a historic bankruptcy and continues to struggle with chronic power outages.
The island also is bracing for potentially big cuts in federal funding under the administration of U.S. President Donald Trump, with federal funds currently representing more than half of Puerto Rico's budget.
"The tariff issue is a controversial one, but for Puerto Rico, it's a great opportunity," said Gov. Jenniffer González.
Manufacturing remains the island's biggest industry, representing nearly half of its gross domestic product. But the government wants to recapture Puerto Rico's heyday, when dozens of big-name companies, especially in the pharmaceutical sector, were based here and kept the economy humming.
So far, officials have identified between 75 to 100 companies that might consider relocating operations to Puerto Rico given the ongoing trade war, said Ella Woger Nieves, CEO of Invest Puerto Rico, a public-private partnership that promotes the island as a business and investment destination.
The companies identified work in sectors including aerospace, pharmaceuticals and medical devices.
Officials also have welcomed site selectors to Puerto Rico and organized tours to show them the island's available infrastructure and stress how tariffs wouldn't apply here.
"This is the moment to plant those seeds," Woger Nieves said.
She said officials with Invest Puerto Rico and various government agencies are expected to make almost 20 more trips this year in a bid to attract more manufacturing to the island. The government praised an executive order that Trump signed Monday that aims to reduce the time it takes to approve construction of pharmaceutical manufacturing facilities in the U.S. From needlework to chemicals
In the mid-1900s, needlework was one of Puerto Rico's largest industries, employing about 7,000 workers who labored on handkerchiefs, underwear, bedspreads and other items, according to a 1934 fair competition code signed by President Theodore Roosevelt.
Manufacturing later shifted to chemicals, clothes and electronics. By the late 1970s, a growing number of pharmaceutical companies began moving their operations to Puerto Rico, lured by a federal tax incentive created in 1976 to help boost the island's economic growth. However, in 1996, the U.S. government began phasing out the incentive, which exempted the subsidiaries of U.S. companies operating in Puerto Rico from federal taxes on local profits.
From 1995 to 2005, overall manufacturing employment fell by nearly 30%, but employment in the sectors of pharmaceuticals, medicines and chemicals increased by at least 10%, according to the U.S. Bureau of Labor Statistics.
Puerto Rico continues to lead U.S. exports of pharmaceutical and medicine manufacturing, representing nearly 20% of total U.S. exports in 2020, according to the bureau.
In 2024, the island exported nearly $25 billion worth of goods, including $11 billion worth of vaccines and certain cultures; $7 billion worth of packaged medicaments; $1 billion worth of hormones; $984 million worth of orthopedic items; and $625 million worth of medical instruments, according
NOTICE
NOTICE is hereby given that RODNEY CASSIUS of East Street South, 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 12th day of May, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that ALTANYS YOUTE of Deveaux Street, 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 5th day of May, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that RICHARD JOHN BEEK of 15 Club Lane, Old Fort Bay, Nassau, Bahamasapplying 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 5th day of May 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
to the Observatory of Economic Complexity.
Sergio Marxuach, policy director and general counsel for the Center for a New Economy, a non-profit, non-partisan think tank, said the push to attract more companies makes sense, especially recruiting those in the pharmaceutical and medical device sectors.
"If I were advising the government, begin there because you already have a footprint," he said.
Marxuach noted that outside of those areas, Puerto Rico could have an advantage when it comes to
national defense and security contracts, including the manufacturing of drones or underwater surveillance systems.
"They need a place to manufacture in scale," he said, adding that doing so in a U.S. jurisdiction is key.
Puerto Rico's government also is meeting with university officials to potentially change curriculums if needed to ensure students are graduating with the skills required by companies.
The Achilles' heel
Puerto Rico touts its U.S. jurisdiction, tax incentives
NOTICE
NOTICE is hereby given that MARK ANTHONY HUNTER of Maxwell Lane #3 off Farrington 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 12th day of May, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
and skilled workforce as reasons international companies should relocate to the island. But it cannot escape its well-known energy problems.
Chronic power outages continue to plague Puerto Rico, with two island-wide blackouts occurring on Dec. 31 and April 16.
Crews are still repairing the power grid after it was razed by Hurricane Maria in September 2017, a powerful Category 4 storm. But the grid was already fragile following a lack of
maintenance and investment for decades.
"Puerto Rico needs more reliable energy for the economic growth to improve," said Robert F. Mujica, executive director of a federal control board that oversees the island's finances.
Woger Nieves, the CEO of Invest Puerto Rico, said that when officials meet with company leaders, they explain the state of the island's energy infrastructure and offer alternatives including cogeneration and renewables.
NOTICE
NOTICE is hereby given that YINGLIN FRANCES HUANG of Westridge Lakeshore Drive, 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 12th day of May, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
AN ICE cream vendor pushes his cart past Puerto Rico’s Capitol building in San Juan, Puerto Rico, Thursday, May 8, 2025.
Photo:Alejandro Granadillo/AP
US touts ‘substantial progress’ in tariff talks with China, but details are still scarce
By JAMEY KEATEN, WILL WEISSERT and CHRISTOPHER BODEEN Associated Press
THE lead U.S. negotiator in trade talks with China
cheered “a great deal of productivity” in resolving differences between the world’s two leading economic powers, after officials wrapped two days of bargaining in Switzerland following President Donald Trump imposing steep tariffs and Beijing retaliating.
U.S. Treasury Secretary Scott Bessent said Sunday there was “substantial progress” in the weekend sessions but offered scant information on exactly what negotiations entailed. He said more details would come at a briefing Monday.
U.S. Trade Representative Jamieson Greer suggested that an agreement had been reached but provided no details. He and Bessent briefly addressed reporters once talks had wrapped at the stately villa that serves as the residence of the Swiss ambassador to the United Nations in Geneva, but did not take questions.
“It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not
so large as far as maybe thought,” Greer said. But he also stressed that a top Trump priority means closing the U.S. trade deficit with China, which came to a record $263 billion last year.
“We’re confident that the deal we struck with our Chinese partners will help us to resolve, work towards resolving that national emergency,” Greer said.
The White House subsequently issued a statement titled, “U.S. Announces China Trade Deal in Geneva” but offering only the same quotes by Bessent and Greer.
The Chinese delegation held a subsequent news conference where it described what occurred as “candid, in-depth and constructive dialogue.”
Chinese Vice Premier He Lifeng said both sides had agreed to “establishing a consultation mechanism” for further discussions on trade and economic issues.
China’s negotiators also said that they and the U.S. team would be releasing a joint statement on Monday — though the timing was still uncertain.
“I think, no matter when this statement is released, it’s going to be good news for the world,” said Li Chenggang, the Chinese
ambassador to the World Trade Organization.
Trump was anxious to declare the sessions a win. Even before the final day of talks opened on Sunday, the president posed on his social media site that “GREAT PROGRESS” was being made toward what he suggested could be a “total reset” on the tariffs that have put the global economy on edge.
Beijing, however, appeared largely more measured about the negotiations’ overall direction, noting in a Saturday night editorial published before the second day of negotiations kicked off, that it would “firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”
During the Sunday evening news conference, He said “global trade wars that were provoked or initiated by the U.S. have captured global attention” but “China’s position towards this trade war has been clear and consistent, and that is: China doesn’t want to fight a trade war, because trade wars produce no winners.”
“But if the U.S. insists on forcing this war upon us, China will not be afraid of it and will fight to the end,” the vice premier said,
Zepbound beats Wegovy for weight loss in first head-tohead trial of blockbuster drugs
By JONEL ALECCIA
AP Health Writer
PEOPLE taking Eli Lilly's obesity drug, Zepbound, lost nearly 50% more weight than those using rival Novo Nordisk's Wegovy in the first head-to-head study of the blockbuster medications.
Clinical trial participants who took tirzepatide, the drug sold as Zepbound, lost an average of 50 pounds (22.8 kilograms) over 72 weeks, while those who took semaglutide, or Wegovy, lost about 33 pounds (15 kilograms).
That's according to the study funded by Lilly, which was published Sunday in the New England Journal of Medicine.
Both drugs are part of a new class of medications that work by mimicking hormones in the gut and brain that regulate appetite and feelings of fullness. But tirzepatide targets two such hormones, known as GLP-1 and GIP, while semaglutide targets GLP-1 alone, said Dr. Louis Aronne, director of the Comprehensive Weight Control Center at Weill Cornell Medicine.
"Two drugs together can produce better weight loss," said Aronne, who led the study and presented the findings Sunday at the European Congress on Obesity in Spain. While tirzepatide won out in what Aronne said many view as "a drag race of efficacy," both are important tools for treating obesity, which affects about 40% of American adults.
"The point of these medications is to improve health," he said. "The majority of people won't need the most effective medication."
The trial included 751 people from across the U.S. who were overweight or had obesity and at least one other weight-related health problem, but not diabetes. Participants received weekly injections of the highest tolerated doses of Zepbound, either 10 milligrams or 15 milligrams, or Wegovy, 1.7 milligrams or 2.4 milligrams.
By the end of the trial, those who took Zepbound lost about 20% of their body weight on average, compared with a nearly 14% loss for those who took Wegovy. The tirzepatide group trimmed about 7 inches (17.8 centimeters) from their waist circumference, compared to about 5 inches (12.7 centimeters) with semaglutide. In addition, nearly 32% of people taking Zepbound lost at least a quarter of their body weight, compared to about 16% of those taking Wegovy, the study found.
Weight loss was about 6% lower in men than in women in both groups, the authors noted. As participants in both groups lost more weight, they saw improvements in health markers such as blood pressure, blood fat and blood sugar levels.
More than three-quarters of patients taking both drugs reported at least one side effect, mostly mild to moderate gastrointestinal issues such as nausea,
before adding: “We are ready to work together.”
Negotiations could go a long way toward stabilizing world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get final word on tariffs.
Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the countries’ boycotting each other’s products, disrupting trade that last year topped $660 billion.
Still, top members of the Trump administration were following the president’s lead in insisting that a hard reset of U.S.-China trade relations could be in the offing.
“Secretary Bessent has made clear that one of his objectives is to deescalate,” U.S. Commerce Secretary Howard Lutnick, who wasn’t in Geneva, said on “Fox News Sunday.” He added that the U.S. and China have both imposed tariffs that are “too high to do business, but that’s why they are talking right now.”
“We are the consumer of the world. Everybody wants to sell their goods here,” Lutnick said. So they need
to do business with America and we’re using the power of our economy to open their economy to our exporters.”
Kevin Hassett, director of the White House National Economic Council, told Fox News Channel’s “Sunday Morning Futures” that “what’s going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very, very eager to play ball and to renormalize things.”
“We’re essentially starting over, starting from scratch with the Chinese,” Hassett said “and they seem to think that they really want to rebuild a relationship that’s great for both of us.”
The talks mark the first time the sides have met face-to-face to discuss the issues. The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously
— could help restore some confidence.
“Negotiations to begin de-escalating the growing US–China trade war are badly needed and it’s a positive sign that both sides were able to gracefully move beyond their bickering over who had to call first,” Jake Werner, director of the East Asia Program at the Quincy Institute for Responsible Statecraft, said in an email.
The Trump administration has imposed tariffs on countries worldwide, but its fight with China has been the most intense. Trump’s import taxes on goods from China include a 20% charge meant to pressure Beijing into doing more to stop the flow of the synthetic opioid fentanyl into the United States.
The remaining 125% involve a dispute that dates back to Trump’s first term and comes atop tariffs he levied on China back then, which means the total tariffs on some Chinese goods can exceed 145%.
constipation, diarrhea and vomiting. About 6% of participants taking Zepbound left the trial because of adverse events, compared with 8% of those taking semaglutide.
The GLP-1 drugs have become increasingly popular, with at least 1 in 8 U.S. adults reporting their use, according to a 2024 survey by KFF, a independent health policy research organization. Zepbound generated $4.9 billion in global sales last year. Wegovy brought in nearly $8.8 billion (58.2 billlion Danish kroner).
Access and affordability have limited wider use of the drugs. Tirzepatide and semaglutide were removed recently from a list of drug shortages by the U.S. Food and Drug Administration. Both manufacturers
recently released programs that cut costs to about $500 per month or less, depending on the dose. Other factors can affect access. This week, CVS Health said Wegovy will become the preferred option on its standard formulary, or list of covered
drugs, as of July 1. Zepbound will be excluded.
It's important to have a range of drugs to treat a disease as widespread as obesity in the U.S., said Dr. Angela Fitch, chief medical officer of knownwell, an obesity care company. Wegovy has been found
to cut the risk of serious heart problems by 20%, she noted. A drug may work well for one patient, but not for others. "We're going to need to use them all just because we have so many patients who need treatment," she added.
VICE minister of Finance Liao Min, left, gestures toward a journalist at a news conference at the Chinese mission to the World Trade Organization in Geneva, Switzerland, Sunday, May 11, 2025, alongside Vice Premier He Lifeng and Li Chenggang, vice minister of commerce. Photo:Jamey Keaten/AP
BOXES for the medications Wegovy and Zepbound are arranged for a photograph in California on Thursday, May 8, 2025.
Photo:JoNel Aleccia/AP
Qatar says no final decision made on gifting Trump a jet to use as Air Force One
By ZEKE MILLER and WILL WEISSERT Associated Press
PRESIDENT Donald Trump reportedly is ready to accept a luxury Boeing 747-8 jumbo jet as a gift from the ruling family of Qatar during his trip to the Middle East this coming week, and U.S. officials say it could be converted into a potential presidential aircraft.
The Qatari government acknowledged discussions between the two countries about "the possible transfer" of a plane to be used temporarily as Trump's Air Force One, but denied that the jet "is being gifted" or that a final decision had been made.
ABC News reported that Trump will use the aircraft as his presidential plane until shortly before he leaves office in January 2029, when ownership will be transferred to the foundation overseeing his yet-to-be-built presidential library.
The gift was expected to be announced when Trump visits Qatar, according to ABC's report, as part of a
trip that also includes stops in Saudi Arabia and the United Arab Emirates, the first extended foreign travel of his second term.
But hours after the news, Ali Al-Ansari, Qatar's media attaché, said in a statement, "Reports that a jet is being gifted by Qatar to the United States government during the upcoming visit of President Trump are inaccurate."
"The possible transfer of an aircraft for temporary use as Air Force One is currently under consideration between Qatar's Ministry of Defense and the US Department of Defense," the statement said. "But the matter remains under review by the respective legal departments, and no decision has been made."
Meanwhile, administration officials, anticipating questions about the president accepting such a large gift from a foreign government, have prepared an analysis arguing that doing so would be legal, according to ABC.
The Constitution's Emoluments Clause bars anyone holding government office from accepting any present,
emolument, office or title from any "King, Prince, or foreign State," without congressional consent.
One expert on government ethics, Kathleen Clark of the Washington University School of Law in St. Louis, accused Trump of being "committed to exploiting the federal government's power, not on behalf of policy goals, but for amassing personal wealth."
"This is outrageous," Clark said. "Trump believes he will get away this."
Senate Minority Leader Chuck Schumer poked fun at Trump's "America first" political slogan.
"Nothing says 'America First' like Air Force One, brought to you by Qatar," the New York Democrat said in a statement. "It's not just bribery, it's premium foreign influence with extra legroom."
Air Force One is a modified Boeing 747. Two exist and the president flies on both, which are more than 30 years old. Boeing Inc. has the contract to produce updated versions, but delivery has been delayed while the company has lost billions of dollars on the project.
Delivery has been pushed to some time in 2027 for the first plane and in 2028
A 13-year-old private Boeing aircraft that President Donald Trump toured on Saturday to check out new hardware and technology features, and highlight the aircraft maker’s delay in delivering updated versions of the Air Force One presidential aircraft, takes off from Palm Beach International Airport, Feb. 16, 2025, in West Palm Beach, Fla.
— Trump's final full year in office — for the second.
Trump intends to convert the Qatari aircraft into a plane he can fly on as president, with the Air Force planning to add secure communications and other classified elements to it.
But it will still have more limited capabilities than the existing planes that were built to serve as Air Force One, as well as two other aircraft currently under construction, according to a former U.S. official.
The official was briefed about the plane and spoke Sunday on the condition of anonymity to discuss plans that have not yet been made public.
The existing planes used as Air Force One are heavily modified with survivability capabilities for the president for a range of contingencies, including radiation shielding and antimissile technology. They also include a variety
THE WEATHER REPORT
of communications systems to allow the president to remain in contact with the military and issue orders from anywhere in the world.
The official told The Associated Press that it would be possible to quickly add some countermeasures and communications systems to the Qatari plane, but that it would be less capable than the existing Air Force One aircraft or long-delayed replacements. Neither the Qatari plane nor the upcoming VC-25B aircraft will have the airto-air refueling capabilities of the current VC-25A aircraft, which is the one the president currently flies on, the official said.
ABC said the new plane is similar to a 13-year-old Boeing aircraft Trump toured in February, while it was parked at Palm Beach International Airport and he was spending the weekend at his Mar-a-Lago club.
