06122025 BUSINESS

THURSDAY, JUNE 12,

Coconut processor’s ‘foreign is better’ fear

By NEIL HARTNELL Tribune Business Editor

A husband-and-wife

entrepreneur duo are

voicing fears their proposed joint venture with government to create “a sustainable coconut processing industry” is being sidelined because “foreign is better”.

Youlette Davis and her husband Rob, who founded the Coconut Factory, now known as Emporium de Coconut, some 14 years ago told Tribune Business they could not understand why the Ministry of Agriculture and Marine Resources had failed to respond to their proposal for threefour months until they saw news reports on a Cabinet minister’s visit to China.

TV broadcasts, as well as an article on the Ministry of Foreign Affairs’ website, disclosed that Alfred

Sears KC, minister of Immigration and National Insurance, recently toured China’s Coconut Research Institute (CRI) and its flagship facility, called the ‘Kingdom of Spring Coconut’.

Mr Sears was said to have described his visit as “extraordinary”, noting that The Bahamas could benefit from the technology and innovation he had witnessed. “One coconut can create over 300 different products,” he was quoted as saying.

“In The Bahamas, the coconut is part of our culture. It’s in our cuisine, our crafts and, of course, our

tropical drinks. With the sustainable technologies developed here, we have the opportunity to modernise how we produce and preserve this essential crop.”

But, describing herself as “highly upset”, Mrs Davis told this newspaper it appeared based on the reports that the couple and their proposal, which aimed to help establish a homegrown, Bahamian-led coconut sector was being pushed aside in favour of Chinese investment and mass production that would leave little space for local entrepreneurs such as the couple.

Tribune Business attempted to contact Neil Campbell, the Ministry of Agriculture and Marine Resources’ permanent secretary, by phone and e-mail for the past two days seeking comment but ultimately learned he was out of office.

Other officials copied on Emporium de Coconut’s e-mails, including Montez Williams, the ministry’s under-secretary, and Senator Tyrel Young, the former Bahamas Agricultural and Marine Science Institute (BAMSI) chairman, also did not respond to this newspaper’s e-mails seeking comment before press time last night.

While the Government’s plans and intentions towards Emporium de Coconut’s proposal, and a possible tie-up with China, could not be confirmed, Mrs Davis made her feelings known in a June 4,

Coral restoration pioneer in $8m-plus ‘huge boost’

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A BAHAMAS-headquartered coral restoration pioneer yesterday said it plans to “showcase” its new eco-tourism experience by year-end after receiving a “huge boost” from $8m-plus in new financing.

Sam Teicher, who cofounded Coral Vita with Gaitor Halpern, told Tribune Business that completion of the Series A funding round, which

typically represents a company’s first financing after it receives its original or “seed capital”, represents “the first-ever time in the world” that an entity focused on coral restoration has achieved this. Affirming that it will always be focused on The Bahamas, and reef restoration work in this nation, he revealed that Coral Vita had already initiated its international expansion prior to completing the latest financing and now has a presence in Dubai, Saudi Arabia and the Dutch Caribbean.

Disclosing that Coral Vita’s work is already bearing fruit for Grand Bahama coral reefs and ecosystems, Mr Teicher told this newspaper that one reef - the Rainbow Reef - now has twice as many fish compared to pre-restoration efforts. He added that the company’s work has enhanced coral survival rates to anywhere from 30 percent up to 70 percent, and even 90 percent.

The $8m-plus Series A financing was led by Builders Vision, founded by Lukas Walton, grandson of Wal-Mart’s creator, Sam

Walton, helps to address environmental sustainability challenges in areas such as the ocean, energy and food and agriculture. Builders Vision also partially underwrote the Bahamian government’s recent $300m debt-fornature refinancing with a $79m “collateralised guarantee”.

Other investors included entities such as Katapult Ocean, iAlumbra, Aureolis Ventures, Colorado Coral and Rising Tide, and Mr Teicher said of the

DPM brands Silver Airways demise as ‘a bump in the road’

By NEIL HARTNELL, FAY SIMMONS and ANNELIA NIXON Tribune Business Reporters

THE Deputy Prime Minister yesterday downplayed Silver Airways’ demise as “a bump in the road” despite the loss of 87,000 annual seats into Abaco alone and calls for a “crisis management plan”. Chester Cooper, also minister of tourism, investments and aviation, said the carrier’s failure was not surprising or unexpected as it had been in Chapter 11 bankruptcy protection in the US since late December 2024 and the Christmas/New Year holiday. He added that the outcome was no reflection

on The Bahamas as a destination or the financial returns it offers for airlines.

Silver Airways, in a message to travellers issued late on Tuesday night, said the “airline holding company” acquiring its business out of Chapter 11 bankruptcy has elected to cease operations in The Bahamas as well as Florida and the wider Caribbean.

“We regret to inform you that we are ceasing operations as of today, June 11, 2025,” the airline said.

“In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company who, unfortunately, has determined not to continue

Opposition: Gov’t ‘making mockery’ of fiscal guards

By NEIL HARTNELL

THE Opposition’s finance spokesman is accusing the Government of “making a mockery” of The Bahamas’ fiscal responsibility laws by seeking to change revenue and spending targets “on a whim”.

Kwasi Thompson, former minister of state for finance under the Minnis administration, told Tribune Business that the Davis administration’s plans to adjust its revenue and expenditure targets, as a percentage of gross domestic product (GDP), for the 2025-2026 Budget cycle threaten to undermine the very purpose of restrictions imposed in the Public Finance Management Act.

CHESTER COOPER

KERRY FOUNTAIN

KWASI THOMPSON

HOTELIERS FEARING DISRUPTION FROM SILVER AIRWAYS CLOSURE

By ANNELIA NIXON

ABACO hoteliers yesterday voiced fears that Silver Airways’ failure will disrupt airlift access at a critical point in the tourism season as the carrier provides 87,000 seats to the island annually.

With the Florida-based carrier’s demise came as no surprise, the abrupt announcement posted on its Instagram and other social media accounts that all services were ceasing with effect from yesterday caught passengers, hoteliers and other airlines unawares.

Emanuel Alexiou, the Abaco Beach Resort’s owner and Bahama Out Island Promotion Board principal, said yesterday that “we made some overtures to the Government to see what can be done” in anticipation that Silver Airways might shut down.

“The airline has been on life support for a while,” Mr Alexiou said. “We’ve seen this coming for at least two months. And I know we made some overtures to the Government to see what can be done. Not as Abaco Beach Resort. I’m also the president of the Out Island Promotion Board, and I’m also in the Bahamas Hotel and Tourism Association.

“So, as organisations, we’ve reached out to the Government, and they’re fully aware of this situation and I don’t want to preempt what they’re likely to come up with. All we can do is stress the importance of this, not only to our hotel, but to all of the Abacos and any other islands that were serviced by Silver Airways.

“The impact is tremendous and has to be resolved quickly. I don’t want to again pre-empt what the Government may be doing, and I know they’re going to do their best. It doesn’t behoove anybody not to try to find a solution.”

Molly McIntosh, owner of The Bluff House Beach Resort and Marina based in Green Turtle Cay, Abaco, voiced concern over how the reduction in flights will impact what she described as one of the busiest seasons Abaco has seen for some time. She added that she is hoping other airlines

can fill the void left by Silver Airways.

“We are very concerned,” Ms McIntosh said. “I mean, no, it’s not a big surprise. It’s been talked about, and we knew it was a possibility, but it is greatly affecting everybody on Green Turtle Cay. People that are booked can’t make it, people leaving can’t get out... We’re hoping that maybe Bahamasair will be able to find some planes to pick up those routes from Fort Lauderdale into Abaco, into Marsh Harbour.

“First they filed bankruptcy reorganisation, and then they filed a different type of bankruptcy. When that starts happening, everyone becomes aware and gets nervous. But I guess we were all hoping that they wouldn’t actually cease operations until after our really busy season. But obviously that hasn’t happened.”

Mr Alexiou said that, if not rectified soon, on a yearly basis 87,000 airline seats coming into the Abacos will be lost. He stressed the importance of finding a quick solution so as to not lose “a very serious part of our season”.

“This is probably the best year yet,” Mr Alexiou added. “And we have things on the books that would continue to support that it would have been the best year. And this has now come along. I don’t know what the overall effect is going to be.

“It’s too early to tell the extent of it. I think again, it all depends on how quickly they resolve the issue. The season ends at the end of July, so if they don’t repair this by the end of July we’ve lost a very serious part of our season. September, October, November are slow, so there’s nothing we can do. This is family time. Schools are out in the US, so it’s a very crucial time for people to travel.”

Hoteliers in Exuma, another island serviced by Silver Airways are also feeling uneasy about the sudden reduction in airlift. However, Joe Eustice, general manager of Grand Isle Resort and Residences in Exuma, said many tourists arrive on the island via other airlines.

“We don’t get a lot of travel with Silver,” Mr

Eustice said. “I’m not sure why. I mean, most of our guests come into Miami or Charlotte as a transfer from American Airlines or, you know, from Air Canada directly down here. So we don’t get a lot of people in Florida that would splice over. So we don’t know. I haven’t checked with the front desk, but I haven’t heard of anyone who’s called with a request for discussion that their flights have been cancelled and they can’t arrive. It would be unfortunate for those who are dealing with that because when you’re in the middle of a trip and you have no options, it’s kind of disappointing.”

Ms McIntosh said while she has dealt with worried tourists set to travel on

Silver Airways, she is willing to do what she can to accommodate guests.

“Obviously, we’ll always work with our guests,” Ms McIntosh said. “I’m actually on the road going down to Marsh Harbour, and I was just on the ferry with some guests that were leaving today, due to come back in on Friday, I think, on Silver, and she’s scrambling, trying to find a way back in now.

“But we work with our guests. If somebody needs to come a day later or extend their stay, or even if they have to cancel, we’re going to try and accommodate them with credits and that type of thing.

“We don’t want to leave people with a bad taste and not want to come

back to Abaco because of a bad experience. So it’s a big deal, and it’s right now affecting a lot of people. I mean, I’ve had three phone calls this morning before I got on the ferry about it, so it’s a big deal.”

Mr Alexiou said he is prepared to refund guests if need be, adding: “Normally we wouldn’t if they don’t show up. But they can’t physically get here, so we’d have to give the money back.”

Reginald Wood, management consultant for the Exuma Palms Resort, said it would have to take the hit and reduce rates “and make the stay as memorable as possible for them”. He added that partnerships with others in the industry

can help accommodate those they cannot.

“This is where the relationship that you forge with your other partners in the industry, even if it’s Airbnbs, which we work with on a regular, ongoing basis, come in,” Mr Wood said. “So when stuff like this happens, if we find ourselves where a guest that should have checked in yesterday is staying for another three days, and we got guests coming in, we would, in a case like this, reach out to our partners in the industry and the Airbnb owners, and see how best we can accommodate those guests that will be coming in through other partners in the industry.”

Rival carriers fill void left by Silver Airways

By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

RIVAL airlines yesterday said they have already increased flights to The Bahamas in a bid to fill the void created by Silver Airways demise.

Describing her approach as “guerrilla marketing,” Sarah Swainson, Makers Air’s private charters and business development manager, said she she is making it known that the carrier is available, adding that Silver Airways’ displaced passengers have been offered a 15 percent discount on their base airfare until June 30.

“We actually did a special promotion today [yesterday],” Ms Swainson said.

“So anybody that’s been displaced off of Silver, we are giving a 15 percent ‘off the base fare’ until June 30 to try to stimulate some of those re-bookings, as well as 15 percent off their private charters to Georgetown and Marsh Harbour.

“So we’re hoping that it gives people peace of mind. It’s like the plot twist, and not a good one, but let’s be a travel solution for people that are wanting to keep their summer travel plans intact and on schedule. So that’s kind of our main effort right now. And just making sure that people know that we’re here, we’re

Halsbury Chambers is seeking to employ a Legal Secretary with the following experience: Three (3) - Five (5) years litigation/commercial/probate experience. Applicant must be able to work on their own initiative. Please send resumes to carolyn.adderley@halsburylawchambers.com

ready, we’re flying, and we can get you where you want to be.

“We’ve been getting a lot of those because there have been a lot of cancellations with Silver, and also American [Airlines] lately, which is a little more unusual. They’ve been cancelling more regularly. And so in advance of this, we’ve been getting a lot of calls for people that have been stranded with either not a way home or not a way out,” she added.

“But this is next level. I think it’s going to really escalate. I’m just hoping that it doesn’t result in Out Island cancellations.

I don’t want people to get frustrated. Our scheduled flights, and as far as Silver’s routes go, would be the

destinations in Eleuthera and then our charters. Our charters would cover the Marsh Harbour, Georgetown situations.

“We’re just doing the best we can. Like I said, the cancellations have been increasing. As far as today, we have added a couple of private charters today, and we have ensured that there is ample flight availability to those scheduled flight destinations in Eleuthera so that there’s ease of passenger booking.”

Patricia Summerfield, Tropic Ocean Airways’ director of sales and partnerships, said the airline will begin a scheduled group of flights between Fort Lauderdale and North Eleuthera, starting on June 20. However, additional flights to Bimini will begin today.

“As of right now, we’re offering private charters on demand,” Ms Summerfield said. “We have availability for private charters and

Bahamasair partners to boost airlift connectivity

BAHAMASAIR and Emirates Airlines have partnered in a bid to improve airlift connectivity to The Bahamas and drive more of the former’s USbound passengers to this nation.

The two sides’ memorandum of understanding (MoU) establishes an interline partnership that will allow Emirates’ passengers to use The Bahamas’ national flag carrier to fly to one of three island destinations from Florida.

Travellers flying via Emirates to Miami or Orlando will be able to connect, through Bahamasair, to Nassau, Freeport or San Salvador. They will also be able to book flights with both airlines on a single ticket. Emirates’ customers will also enjoy a generous baggage allowance when flying on Bahamasair to the three islands.

Adnan Kazim, deputy president and chief commercial officer, said: “We are pleased to establish an interline partnership with Bahamasair to expand our reach to new and exciting destinations, and offer travel options for our customers planning journeys to the Caribbean nation.

“The interline partnership offers customers the convenience of connecting in Florida for travel onwards to points across the islands of The Bahamas, while enjoying competitive fare pricing, the convenience of booking the entire

journey on a single ticket, and a generous baggage policy.

“This partnership also supports our agreement with The Bahamas’ Ministry of Foreign Affairs to promote the Caribbean destination across our network.” As part of the MoU, both carriers will also explore opportunities to enhance their cargo interline co-operation and potential partnerships under their frequent flyer programmes.

Tracy Cooper, Bahamasair’s managing director, said: “This partnership significantly elevates Bahamasair’s global profile and opens access to invaluable expertise and new markets. By aligning with one of the world’s most respected airlines, we strengthen our capabilities and lay the groundwork for sustained international growth.” Miami and Orlando are among the 12 US destinations that Emirates currently services. Emirates serves Miami with daily flights via a Boeing 777, and flies to Orlando five times per week, connecting travellers across its network of over 140 destinations.

On the sidelines of Arabian Travel Market, Emirates and the Ministry of Foreign Affairs of The Bahamas signed a memorandum of understanding (MoU) to jointly promote tourism to this nation.

Ministry targets stopover rise in Florida marketing missions

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Ministry of Tourism is conducting a series of regional sales and marketing missions in Florida - with Deputy Prime Minister Chester Cooper saying the goal is to increase the amount of stopover visitors.

Mr Cooper said the majority of guests to The Bahamas travelled from or through Florida, making it an important tourism market.

“Last year, we attracted a total of 11.2 m visitors to our shores, and many of them come from Florida or came through Florida. Therefore, it’s important for us to ensure that our partners in Florida understand the possibilities of the connectivity,” said Mr Cooper.

“We have a large cruise market, and therefore we are also focusing on increasing our stop over guests. You may already know that our cruise business has grown some 65 percent between 2024 and 2019 our stopover businesses is holding its own.

“Which means that we want our guests to know of new developments in the Bahamas, new places where they can stay, new islands that they may not have visited, not new islands, but new to them. We don’t want it to be new to them. We want them to come and island hop around the islands of the Bahamas. And this is why we’re doing this mission.”

Mr Cooper said the booking window has shortened for many travellers and the Bahamas has a “competitive edge” on

other destinations due to proximity.

“When we find uncertainty in the world, people like to go where they are comfortable, where it’s easy to access. And what we are seeing is that people are booking more impulsively. Now the booking windows have generally shortened,” said Mr Cooper.

“What this means is that people are making decisions on the fly, and it’s good to be able to take a 25 minute flight after you’ve made that decision.”

Director General Latia Duncombe said stopover visitors “do not just appear in the destination”, rather it takes targeted marketing

In

and engagement with all stakeholders to drive traffic to the destination.

“The US represents north of 80 percent of our stopover business to the destination, and the state of Florida is the most

NOTICE

the Estate of ALTHEA MAE FOWLER-KING

a.k.a. ALTHEA MAE KING late of #11 Almond Grove, Sea Breeze Estates Subdivision in the Eastern District of the Island of New Providence one of the Islands of the Commonwealth of the Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the above Estate are required to send their names, addresses and the particulars of their debts or claims duly certifed in writing to the undersigned on or before the 23rd day of June A.D., 2025 after which date the Executor will proceed to distribute the assets having regard only to the proved debts or claims of which notice have been given.

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned.

MICHELLE Y. CAMPBELL & CO. Chambers #55 Mackey Street Nassau, Bahamas Attorney for the Executor

significant when we look at the delivery of business,” said Ms Duncombe.

“We are reminding them about the islands of The Bahamas, showing them what’s new, and making sure that they’re aware there’s a lifetime of opportunities, a lifetime of experiences, and certainly a lifetime of islands in The Bahamas.”

She said there has been a rebound of visitors from Florida and over 1,500 stakeholders will be present during the Florida Global Trade Mission.

“From a stakeholder perspective, there are about 1,520 stakeholders. The airline partners, the hotel partners, they’re all here. Nassau Paradise Island promotion board will be here as well. The Out Island Promotion Board will be here as well. So all of the stakeholders will be represented,” said Ms Duncombe.

“This is very important market, and we could never promote the destination enough in this market. And we’ve seen the return, we’ve seen the interest, we’ve seen the results, and certainly we are going to give them a taste of the destination, whet the appetite, and then they’re going to come over and visit.”

YNTEGRA SURVEY ‘DOES NOT REFLECT LOCAL VIEWS’ - SEA

By FAY SIMMONS Tribune Business Reporter

AN alliance of businesses said a recent survey that suggested 68 percent support for a luxury development on Sampson Cay does not reflect local views.

Save Exuma Alliance (SEA), an alliance of businesses, neighbouring islands and residents, said the nationwide survey conducted by Public Domain using a weighted sample of 1,000 Bahamian residents does not reflect the views of the less than 1,000 individuals that will be directly affected by the development.

“Statistics based on answers to general questions from respondents throughout The Bahamas do not reflect community consent, especially when the public has not been fully informed about what’s truly at stake,” the Save Exuma Alliance (SEA) said in a statement.

“Asking someone in Nassau or Bimini how they feel about a project that promises jobs in Exuma is like asking an Alaskan how they feel about a proposed development in Miami-Dade.”

SEA noted that the survey focused on economic benefits and did not include any questions about the environment, and said the individuals polled were likely not aware of the projects environmental concerns.

“Survey participants were unlikely to be fully aware of the scale of environmental destruction the project would cause, including dredging through healthy coral reefs and seagrass meadows, bulldozing native coppice, excavating wetlands for two marinas, and disrupting sandbars and other valued recreational areas. These actions would cause irreversible harm to Exuma’s fragile ecosystems and threaten the livelihoods that depend on Exuma’s

Rival carriers fill void left by Silver Airways

shared charters. So if people want to get together and split the cost of the charter, if they need their own private charter for a family, we have both of that available currently.

“And then we also have our flight from Marsh Harbour, so possibly increasing the frequency on our flights to Marsh Harbour as well.

We fly there three days a week, between Fort Lauderdale and Marsh Harbour. And we’re also going to add additional Bimini scheduled service flights. So currently we fly to Bimini seven days a week, between four and six times a day. We’re going to add extra capacity to that.”

Noting that their phones and e-mails have been going off constantly, Ms Swainson, Stuart Hanley, founder and chief executive of Aztec Airways, and Anthony Marinello, president of Tropic Air Charters, said their airlines are also prepared to fill then gap.

Mr Marinello said yesterday morning that he anticipated that have already allocated three extra flights.

Aztec Airways, which normally runs about 10 to 12 flights a day, has scheduled flights into Bimini, Treasure Cay, Marsh Harbour, Governor’s Harbour and Rock Sound.

“We go to Great Harbour Cay and Chub Cay in the Berry Islands, and we go to San Andros and Fresh Creek in Andros,” Mr Hanley added. “Silver has left a void, so we’re

filling that void. Mostly the routes we share [with Silver Airways] were to Abaco, Bimini and Eleuthera.

Those are the routes that they flew, that we fly. So

marine environment,” the statement said.

SEA said there is no guarantee the development would “meaningfully benefit” residents as developers may engage foreign labour.

The statement continued:

“This scale of development is wildly out of step with Exuma’s infrastructure and culture. It would strain local resources such as water supply, waste management, and healthcare, while disrupting the peaceful way of life that defines the Exuma experience and sustains its tourism economy.

“Despite Yntegra’s public relation tactics, there is no guarantee that the project will meaningfully benefit Bahamians. A resort of this type, designed in the style of exclusive exotic mega-developments, will rely heavily on imported contractors, imported materials, and imported staff. The reality is that most long-term jobs will go to outsiders, and most profits will leave the country.”

we’ll be adding more flights to those destinations.

“Our schedule is in place now through June of next year. It’s all very new to us right now, what is happening. It’s only been a few hours since the announcement. So we’re looking to see where people want to travel, and when they do, we’ll add flights. We’re very flexible.”

Dividend Notice To All Shareholders

The Board of Directors has declared a dividend of 1 cent per share to shareholders of record 20th June 2025.

The dividend payment of 1 cent per share is represented by the regularly declared annual dividend of 1 cent per share.

Payment of the dividend will be made on June 30th, 2025 through Bahamas Central Securities Depository Limited, the Registrar & Transfer Agent.

Brent Roberts Secretary

The group said they are not “opposed to development” but advocate for responsible development that create real opportunities for locals.

“The Save Exuma Alliance is not opposed to development. What we oppose is the notion that progress must come at the cost of our environment, culture, and community. There is space in Exuma for thoughtful, inclusive investment, and development that protects what makes these islands special while creating real opportunities for local people. But that is not what Yntegra is offering with its proposed megaresort on Sampson Cay,” the statement said.

“This is a moment for Exumians, and Bahamians everywhere to insist on responsible development that respects the way of life and integrity of our communities. Yntegra’s broken promises at Cave Cay offer a warning. If we fail to demand answers now, we risk paying the price later

with a devastated coastline and empty job sites. Bahamians deserve the full picture, not selective polling, vague commitments, and more foreign-led disruption dressed up as opportunity. Progress should enhance our islands, not sacrifice our irreplaceable heritage and natural wonders.”

According to the Public Domain survey, 63 percent of Exuma residents that are aware of the development strongly support it, while only 15 percent said they strongly or somewhat oppose the development.

Survey respondents identified the top reasons for supporting the project as job creation, cited by 63 percent; an economic boost to Exuma, noted by 43

percent; and opportunities for Bahamian businesses, mentioned by 36 percent. Save Exuma Alliance (SEA), has launched a petition, which currently has over 3,500 signatures, urging the Department of Environmental Planning and Protection (DEPP) to halt approvals for the project and request further analysis of the environmental impact of the seabed dredging required for the project.

Amongst SEA’s members are Staniel Cay Yacht Club, Makers

Staniel Cay Adventures, Turtlegrass Resort & Island Club, Wild Tamarind Cay, Bahama Boyzz Adventurezz, and Flying Pig Cafe.

Air, Embrace Resorts, Hattie Cay, Over Yonder Cay, Little Major’s Spot,

COCONUT PROCESSOR’S ‘FOREIGN IS BETTER’ FEAR

2025, e-mail sent to Ministry of Agriculture and Resources officials who had met with the couple in February to discuss their proposal as well as those copied in on the e-mail exchanges.

Noting that the duo have produced more than 50 coconut-based spin-offs, ranging from foods to body care products, for both Bahamian and international markets since founding their firm in 2011, Mrs Davis wrote: “While we do not produce on the scale as that of China, we know the manufacturing process and have brought quality food, body care and farming products to the local and international market.

“Not producing on the mass as China should not be a reason to dismiss us as not being knowledgeable

in the coconut manufacturing process. In fact, being a Bahamian and a woman in this industry should have been more of a reason to engage us in this project.

“But, after my experience with the Government since 2011, as a Bahamian and a woman, being overlooked, excluded and ignored in favour of anyone and all things foreign comes as no surprise. We presented a proposal that would have a government-sponsored operation up and running within two weeks.

“We presented a proposal that would be of benefit to the Department of Labour and their National Training Agency. Yet we received no response from the Ministry of Agriculture and Marine Resources. Now we know why. Let me guess; suddenly the Chinese will have the ‘same’ collaboration idea as

our business proposal submitted to you, correct?”

Mrs Davis told Tribune Business that she and her husband were inspired to reach out to the Ministry of Agriculture and Marine Resources in late 2024 after viewing the ‘Coconut 360’ video on Facebook.

“They had called for coconut vendors to come out and meet with them,” she recalled. “The majority of the people who attended were young Bahamian men. If they see that young men and women, they see a Bahamian women do this, they are more likely to be impacted.”

Mrs Davis said that, based on their experience, they believed that an indigenous Bahamian coconut industry could be so much more than just selling water and milk. Revealing that they possess five coconut processing

machines, three of which they use, she added that every part of the coconut is used including the outer shell to make charcoal while the husk produces coir soil.

As a result, Mr Davis wrote to Mr Campbell, the Ministry of Agriculture and Marine Resources’ most senior official on November 24, 2024, to propose a joint venture or public-private partnership (PPP) type “collaboration” drawing on Emporium de Coconut’s experience gained from operating its own Bay Street processing facility and a retail outlet at the Nassau Cruise Port.

“We saw the ministry’s recent ‘Coconut 360’ video and your insightful discussion with coconut water vendors regarding the potential of the coconut industry in The Bahamas,” Mr Davis wrote. “As the first company to process the entire mature coconut locally, we are uniquely positioned to contribute to the ministry’s vision of a thriving coconut sector.

“Over the years, we have developed extensive expertise and invested in advanced equipment to produce a wide variety of coconut-based products for both local and international markets. Our offerings range from food products such as coconut oil, flour, butter and canned coconut water and milk, to by-products like activated charcoal, coconut coir soil, and fibre for agricultural applications.”

Emporium De Coconut offered to host workshops and training sessions to educate Bahamian coconut vendors and entrepreneurs on the necessary processing techniques to manufacture other products in a sector which Mrs Davis told Tribune Business has grown from a $1.6bn global industry, when she first started in 2011, to $17bn now.

Mr Davis, in his letter, added that the couple wished to partner with the Ministry of Agriculture and Marine Resources “to establish a reliable supply chain that connects [Bahamian] coconut farmers and vendors to processing facilities” so as to maximise profits and cut waste, while also engaging in research and development on “eco-friendly solutions” such as biodegradeable packaging.

“By fostering a partnership between Emporium de Coconut, the ministry and coconut vendors, we can collectively unlock the vast potential of The Bahamas’ coconut industry. This collaboration not only aligns with the Government’s goal of economic diversification but also promotes sustainable practices and

entrepreneurship in our communities,” Mr Davis wrote. His e-mailed letter eventually provoked a February 3, 2025, reply from Delreese Grant, a project officer with the Ministry of Agriculture and Marine Resources, requesting the couple’s “availability” to meet with relevant government officials. A meeting was scheduled for ten days later, on February 13, 2025, and Emporium De Coconut subsequently drafted a proposal dated February 19, 2025.

Mrs Davis, though, told this newspaper that there was no response to the submission or a follow-up e-mail sent one month later. Then, amid the silence, came the reports on Mr Sears’ China visit, which apart from the Coconut Research Institute also included a tour of the Wenchang Chunguang Coconut Kingdom and its “many coconut products and crafts”.

Confirming that “all the people copied on the e-mail”, including Mr Young and Mr Williams, were present at the meeting with Emporium De Coconut, Mrs Davis told Tribune Business:

“They were very interested. They said: ‘Just send in the proposal’ and then they would get back to us. It’s now June, and we’ve not heard a word.

“A month later I sent them a follow-up e-mail saying ‘I think this would work better in Nassau’” rather than placing a coconut processing plant at BAMSI in Andros. She added: “With the last e-mail, nobody opened it up. From March, April, May, nobody responded. After the meeting they all knew what they were going to do.

“It’s just unfortunate. They had an opportunity for everybody, if they were interested in coconut processing or the backyard coconut business if they didn’t want to do processing. We were going to do support classes as well. I know a lot of the young guys would be interested in using their hands and working with the machines.

“Then, just weeks ago, Alfred Sears was in China. I was highly upset because I know the Ministry of Agriculture and Marine Resources has to be involved with him taking that trip. It was quite insulting. It’s impossible for the Government not to know we exist.”

Asked about the message this sent to the couple, Mrs Davies replied: “It’s basically saying that we’re not good enough. Foreign is better. They don’t want us involved in it because they know the value of it. The Chinese know the value of it... They should not control the coconut industry. There are many Bahamians that can do it.

“The average person will be shut out. It’s another strike to make us Bahamians feel we’re not good enough; that we cannot do it. There’s a lot of youth that don’t have these opportunities or skills, but this is something they can do every day.”

Mrs Davis said that, while previously supplying the likes of Super Value and Centreville Food Market, her business has temporarily suspended processing food products to focus all its efforts on the Nassau Cruise Port outlet. It is producing body care products, such as coconut oil, for which it has regulatory permission to export to the US, plus a line

of rums and bottled liquor using coconut cream.

Having graduated from a home-based business to its first processing facility at Bay and Victoria Streets, where it was located between February 2018 and March 2022, the company now operates from the Kelly building on Bay Street.

“There’s no rhyme or reason to say we are not qualified,” Mrs Davis said. “Any question anybody has on the coconut industry we can answer. We count everything. All of our products, we count. We measure measure how many coconuts it takes to make these products.”

Emporium De Coconut, in the proposal for “coconut processing equipment consultation services” submitted to the Ministry of Agriculture and Marine Resources on February 19, 2025, said: “The country is rich in coconuts, offering a unique opportunity to develop a self-sustaining local food production and agricultural industry.

“By tapping into the vast coconut resources available, there is a potential to reduce dependency on imports while boosting food sustainability and local economic development.... Emporium de Coconut offers a comprehensive solution that involves setting up a coconut processing operation in The Bahamas, aimed at maximising local coconut production and creating new avenues for economic growth.”

Mr and Mrs Davis said their proposal involved setting up a coconut processing facility to take care of every production stage, with training provided for ministry staff and other Bahamian entrepreneurs along with knowledge transfer of the required processes and procedures.

This, in turn, would assist with the creation of “meaningful employment opportunities for Bahamians” in manufacturing plus the opportunity to sell coconut-based products into the local and tourism markets at both the retail and wholesale level.

The couple added that, once all equipment, electrical and plumbing systems were in place, the processing plant could be set-up in 24 hours spread across four days. The proposed coconut de-husking machine would be capable of processing 160 coconuts per hour, or 1,200 in an eight hour day, with grating and milk extraction rates projected at 4,000 and 2,800 coconuts per day, respectively.

“This proposal offers a strategic opportunity for the Ministry of Agriculture and Marine Resources to harness the potential of The Bahamas’ abundant coconut resources, fostering local economic growth and enhancing food sustainability,” the Emporium De Coconut duo wrote.

“By partnering with Emporium de Coconut, [the ministry] will gain the knowledge, infrastructure and training necessary to establish a thriving coconut processing industry. This initiative not only supports job creation and entrepreneurial ventures but also opens new revenue streams through local and tourism markets. Together, we can build a more self-sufficient and prosperous future for The Bahamas.”

NOTICE

In the Estate of DELANO DONAWA SMITH late of #4 Cordia Corner, Foxdale Subdivision in the Eastern District of the Island of New Providence one of the Islands of the Commonwealth of the Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the above Estate are required to send their names, addresses and the particulars of their debts or claims duly certifed in writing to the undersigned on or before the 23rd day of June A.D., 2025 after which date the Administrator will proceed to distribute the assets having regard only to the proved debts or claims of which notice have been given.

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned.

MICHELLE Y. CAMPBELL & CO. Chambers #55 Mackey Street Nassau, Bahamas Attorney for the Administrator

CORAL RESTORATION PIONEER IN $8M-PLUS ‘HUGE BOOST’

funding round’s completion: “It’s a huge boost for Coral Vita. It’s the first time in the world that a Series A investment round was raised for a coral restoration company. It’s not only exciting for Coral Vita, but the entire” sector.

As for how the proceeds will be used, he added: “We’re going to do more community-based conservation and continue the work in The Bahamas. We’re planning, hopefully by the end of this year, to showcase our new eco-tourism and education experience on Grand Bahama. Also this expansion to new countries in the Caribbean and the rest of the world.”

Mr Teicher said he also wanted to encourage more “nature positive brands to support restoration from anywhere in the world for reefs in The Bahamas”, recalling the $100,000 received from Broken Planet ti assist the effort. “We want to do more of

that type of work,” he added. Coral Vita, which last year received a $1.03m funding injection via the Inter-American Development Bank’s (IDB) Multilateral Investment Fund, plans to use a portion of the $8m proceeds to expand its operational footprint and build new large-scale coral farms. The financing will also be used to support research and development in coral farming technology and restoration methodology, and help hire more employees in areas such as brand development, community outreach, engineering and operations.

The Grand Bahamabased reef restorer will also seek to strengthen partnerships with “nature-positive corporations”, local governments, tourism operators and conservation organisations, as well as seek to grow revenue streams from restoration projects and eco-tourism experiences. Mr Teicher said the lead role played by Builders Vision and Mr Walton, as

the lead investor, creates “another synergy between us and The Bahamas” given their involvement in the Government’s $300m debtfor-nature refinancing that was completed last year.

“We have several different restoration projects ongoing currently in Grand Bahama,” he told Tribune Business. “We hope to work with BREEF, the Perry Institute of Marine Science. We had previously gotten funding for restoration projects from the Ministry of Agriculture and Marine Resources.

“One of our restoration projects, Rainbow Reef in Grand Bahama, has twice as many fish compared to surveys before we did the restoration work. The survivability of the corals, it’s a very challenging time with the heat wave. We’re seeing coral survivability anywhere from 30 percent to 70 percent and 90 percent after we’ve done the restoration.

“This spike in ocean temperatures, in one place 100 percent of the natural corals on the reef had been

destroyed or disappeared. We planted new corals nearby, and 30 percent of what we planted survived. I want it to be more. In other places it’s 75 percent or even higher, 90 percent survivability.”

Mr Teicher said Coral Vita has hired more staff recently, and “more than half the staff and growing is Bahamian”. Paid internships are only available for Bahamians, and some 16 full-time staff are based in this nation, which will be home to the company’s ecotourism experience.

He added that Coral Vita’s restoration work is “essential now, and is only going to become more important” given that reefs are vital ecosystems supporting the Bahamian tourism and fishing industries. “The Bahamas won’t exist without them,” Mr Teicher warned.

Coral Vita already possesses a welcome centre and education facilities, with visitors able to “almost walk right up to the ocean” and watch live coral being grown in tanks. A conch

OPPOSITION: GOV’T ‘MAKING MOCKERY’ OF FISCAL GUARDS

Warning that it threatens to “set a precedent”, where any future administration could simply go to Parliament and use its majority to amend these goals to suit its policy objectives, or if the fiscal indicators are moving in the wrong direction, he reiterated that adjustments should only occur in an “unforeseen or urgent” emergency such as Hurricane Dorian and the COVID-19 pandemic.

And, before such changes are approved, Mr Thompson told this newspaper that the law requires the Government to explain to Parliament and the Bahamian people what corrective actions it is taking to bring its finances back into line with the fiscal targets.

The Davis administration, in the legislation accompanying the 20252026 Budget, is seeking to adjust the Public Finance Management Act’s schedule four which sets targets of a 25 percent revenue-to-GDP (gross domestic product) ratio that must be achieved in the upcoming fiscal year, plus a 20 percent recurrent spending-to-GDP ratio.

The Prime Minister justified the move on the basis of the higher-than-expected 3.4 percent GDP growth figure for 2024, recently unveiled by the Bahamas National Statistical Institute, and the greater difficulty this imposes on

the Government to achieve its revenue ratio targets. As a result, the revenueto-GDP tar5get is being adjusted to 23.6 percent for the 2025-2026 fiscal year, then to 25 percent thereafter, while the recurrent spending ratio is also being raised to 21 percent “through the medium term” - a move that will enable the Government to increase spending.

“More troubling is that they have sought to reduce the revenue targets in a way where it makes a mockery of the fiscal responsibility laws,” Mr Thompson blasted to Tribune Business. “Those fiscal objectives were put into legislation to govern how the Government spends its money and how the Government is able to project its revenues.

“The targets were put into the law so it mandates what the Government must do. What was also put into the law was, if you wish to change those objectives, there was a mechanism upon which you should do so. It has to be unforeseen or urgent matters, such as a hurricane or pandemic, and then if you are able to change it you must say what steps you would take to get it back to target.

“To put it very simply, the Government is seeking to reduce the amount of revenue the target said it should receive, and increase

the amount of spending the target says it should support,” Mr Thompson added. “They are doing it in a way where they are simply going to Parliament and changing those targets.

“The law was not intended that the Government goes to Parliament and just changes those targets. It makes a mockery of those fiscal responsibility laws. If this government gets away with it, it sets a precedent that any future government can go to Parliament and change the targets. That, again, is contrary to the entire intention of having fiscal targets placed into law.”

Mr Thompson, in a statement sent to this newspaper, reiterated: “The most serious concern is that this PLP government has completely undermined the purpose of the fiscal responsibility law - a law the FNM put in place to bring discipline to the Budget and reduce the country’s debt.

“That law was meant to keep the Government honest by setting clear financial targets that couldn’t be changed on a whim. But the PLP has now abandoned that commitment. Just as the Opposition warned, the government moved the preparation of the Fiscal Strategy to line up with the Budget. Why? So they could quietly change the fiscal targets they had already

hatchery and mangrove nursery are also key components of the project, which numbers Blue Action Lab and Waterkeepers Bahamas among its partners.

The importance of The Bahamas’ coral reefs to the ecosystems it underpins, and the sustainability of this nation’s tourism, maritime and ocean (fisheries) industries, was detailed in this nation’s submissions last year to the International Court of Justice (ICJ) which is being asked to provide an advisory opinion on the obligations that different states have to fight climate change.

“As the home to 5 percent of the world’s coral reefs and the world’s third-longest barrier reef, The Bahamas has experienced severe bleaching and mass coral mortality.

For example, in July 2023, scientists recorded ocean temperatures in Bahamian territorial waters as high as 33 degrees centigrade,” The Bahamas told the ICJ.

“These exceptionally high water temperatures lasted for several months, and caused a devastating mass bleaching event....

Coral reefs are important to The Bahamas’ biodiversity

published and agreed to without explaining why.”

He continued: “They did this by seeking to amend the Public Financial Management Act, specifically the first schedule for 2025. But this goes against Section 25 of the law, which requires the Government to clearly explain what urgent reason caused them to break from the targets they set themselves.

“No explanation has been given. This is not

responsible budgeting. It is a clear sign that the Government is breaking its own rules, and that it no longer takes fiscal responsibility seriously. The 2025 Fiscal Strategy Report proves exactly why the Opposition has always been – and still is – against the Government releasing the report at the same time as the Budget.

“Before the PLP changed the law, the Fiscal Strategy Report was required to be published before the annual Budget. That made sense, because the Fiscal Strategy Report is supposed to set out the Government’s

and act as a vital part of the country’s natural defence system against storm surges and erosion.

“Anthropogenic ocean warming alters the biodiversity and ecosystemic functioning of coral reefs, causing severe ecosystem loss due to coral bleaching. The destruction of coral reef ecosystem has significant environmental as well as economic implications for The Bahamas,” this country added.

“The array of coral reefs in Bahamian waters are a central attraction for diving and other activities, and accordingly draw tourists and support the tourism economy. Coral destruction also impacts fish stock, which is vital for employment and nutritional sustenance.”

It is these impacts that Coral Vita is seeking to mitigate and reverse. It uses ‘micro fragmentation’ to accelerate coral reef growth and, relying solely on species native to The Bahamas to also provide diversity, says it can grow pieces “up to 50 times’ faster” than rival farms using conventional techniques.

medium-term fiscal targets and help guide the decisions made in the Budget,” Mr Thompson explained.

“But now the Fiscal Strategy Report comes after the Budget has already been prepared. Instead of setting targets and shaping fiscal decisions, the report is simply being used to justify what the Government has already decided to do. This completely defeats the purpose of the Fiscal Strategy Report. It is supposed to lead the Budget process, not follow it.”

DPM BRANDS SILVER AIRWAYS DEMISE AS ‘A BUMP IN THE ROAD’

Silver’s flight operations in Florida, The Bahamas and the Caribbean.

“Please do not go to the airport. All credit card purchases should be refunded through your credit card company or your travel agency.” The sudden, immediate shutdown will likely have left tourists in The Bahamas, who were booked to return on Silver Airways, stranded in this nation at least temporarily, while Bahamians in the US who were scheduled to fly with the carrier may find themselves in a similar position.

Silver Airways had 646 employees, spread between Florida, The Bahamas and the wider Caribbean, when it entered Chapter 11 bankruptcy protection in late 2024. Reports yesterday suggested that workforce has subsequently reduced to 348, with eight planes, and that most of these jobs will be eliminated, although efforts to find out how many

your news

posts are in The Bahamas proved fruitless. Documents obtained by Tribune Business from the south Florida federal bankruptcy court reveal that Silver Airways owed sixfigure sums to both Nassau Airport Development Company (NAD), Lynden Pindling International Airport’s (LPIA) operator, and its counterpart on Bimini. NAD was shown to be Silver Airways’ largest Bahamian creditor, owed some $138,817 as at May 22, 2025, while another $103,213 was due to Bimini Airport Development Partners. The Airport Authority was owed $63,293 at the Family Island airports that it still controls and operates, with another $47,181 due to Nassau Flight Services for ground handling, security services and Immigration. Silver Airways was also a major airlift provider to key Family Island destinations, especially Abaco (Marsh Harbour); North Eleuthera; Governor’s Harbour; Great Exuma; and Bimini, as well as serving Nassau and Freeport.

Kerry Fountain, the Bahama Out Island Promotion Board’s executive director, yesterday gave an insight into the airlift gap that will have to be filled by revealing that Silver Airways had itself forecast it would provide 89,000-90,000 seats into The Bahamas from December 2024 through to July this year. On an annual basis, that works out to an

NOTICE is hereby given that LIFRANC RAPHAEL DESROSIERS of Juicy Hill, Harbour Island, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of June, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

estimated 135,000 seats and more that now have to be filled.

Agreeing with Mr Cooper that Silver Airways’ failure was not surprising, he added that The Bahamas must focus in the immediate future on both aiding stranded tourists and Bahamians to return home as well as finding the “right partner” to replace the airlift connectivity that the carrier offered from Fort Lauderdale.

“The only thing I would like to say at this time is what’s important, because we only just found out about this late last night, is is working with all partners to put together a crisis management plan to deal with the situation today and for the next few weeks,” Mr Fountain told Tribune Business.

“Tickets have been booked, vacations planned. So how do we help both residents travelling from these islands to Fort Lauderdale and, on the flip side, assist travellers from the US? I know it will impact Abaco, particularly Marsh Harbour, Bimini, North Eleuthera and George Town.

“How do we protect our hotels, protect those passengers and how do we, as soon as possible, identify who is the right partner to come into Fort Lauderdale and replace the Silver Airways service?” Mr Fountain said that, prior to the Chapter 11 bankruptcy filing and closure of its Orlando routes earlier this year, Silver

Airways was planning to provide significant airlift to The Bahamas in 2025.

“I can tell you that, when they first showed the winter schedule to us, December 2024 through July this year, they were predicting 89,000 to 90,000 seats between December to July,” he disclosed. “I share those numbers with you to point out it has to be the right partner to replace Silver with this number of seats.

“There’s a lot of work we have to do, but first things first, we go into crisis management mode and help those passengers who are basically stranded.” Family Island hoteliers said that, while Silver Airways’ failure was not unexpected and has been long-flagged, the timing could not be worse given the airlift disruption that will result during a peak time for them (see other article on Page 3B).

Mr Cooper, meanwhile, reiterated that the “beleaguered” airline’s decision to cancel flights and shut down operations had nothing to do with its operations in The Bahamas.

“Today we were awakened to the news that wasn’t particularly surprising, of the demise of Silver Airways. And the reality is that they had been a beleaguered airline for quite some time. They had been into Chapter 11 with an attempt to restructure, and they determined yesterday that attempt was not moving forward, and they advised their passengers

NOTICE

NOTICE is hereby given that KESNEL ETIENNE of 147 Gladstone Terrace B, Freeport, Grand Bahama, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of June, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

that they would discontinue service,” said Mr Cooper.

“So this isn’t any bearing on the Bahamas directly. It’s not that they’re removing their service from The Bahamas, are pulling out of The Bahamas. They’re pulling it altogether, and hopefully they will return at some point, in some way, and return that service.”

Mr Cooper, who is currently attending a series of regional sales and marketing missions in Florida, said discussions are currently being held with other carriers such as American Airlines to adjust airlift where necessary.

“In the meantime, we’re talking with our partners about how we can bridge the gap, how we can provide additional lift to The Bahamas. American Airlines, for example, is one of our largest airline partners, providing outputs of 30 percent of traffic to the islands,” said Mr Cooper.

“They actually operate in all of the markets that Silver Airways operated in, except for Tampa. And no doubt they’re going to monitor demand and adjust where necessary to support the demand and, of course, all of the other airlines.”

Mr Cooper said Bahamasair has already been engaged to discuss providing additional routes and, over the coming days, a final decision will be made on how it will proceed.

“In addition, we have Bahamasair, and we’ve already engaged Bahamasair directly about what additional routes we might provide. We’re looking at the data. We’re going to make the assessment over the next day or two, and we’ll take some decisions as to the next steps and best interests of Bahamasair, and the best interests of

Bahamas tourism,” said Mr Cooper.

“But we are looking at it actively at the moment. Over the course of the next few days, we’ll know more about what’s happening with Silver. Suffice to say, we’re assuming that they’re out of business and we’re making contingency plans.”

Mr Cooper said Silver Airways’ exit is just a “bump in the road”, and he is confident other airlines will adjust their routes to meet demand and ensure visitors can access the destination.

“All of the airlines in the room today are in the business of bringing passengers to The Bahamas. Wherever the demand presents itself, I’m certain that they will rise to the occasion,” he added. “We have a good rapport with all of our airline partners, large and small, and we anticipate that we are going to continue to adjust and pivot as the case might be to ensure that our guests get to the destinations where they need to be.

“We’re in the business of tourism. We have great partners. We’ve been doing this for 50 years, and this is a bump on the road that we are going to manage. We’re assessing the data at the moment. I’d imagine that over the course of the last several months, guests had been already alerted to some of the troubles of Silver and, no doubt, may have already been making some transitions.

“We’re assessing the data at the moment. We’re going to see where the opportunities exist. We’re going to encourage our partners to pursue those opportunities in the niches that they appear.”

NOTICE

NOTICE is hereby given that CHEDWIN PHIPPS of Faith Avenue North, 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 June, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that GUILENE CHARLES of Soldier 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 5th day of June 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that ARJUN SHETTY of Brooklyn 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 June, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

INFLATION BARELY ROSE LAST MONTH AS CHEAPER GAS AND CARS OFFSET SOME COSTLIER IMPORTS

By CHRISTOPHER RUGABER and ANNE D'INNOCENZIO

Associated Press Writers

U.S. inflation picked up a bit last month as higher prices for groceries and some imported goods were largely offset by cheaper gas, travel services, and rents.

Consumer prices increased 2.4% in May compared with a year ago, according to a Labor Department report released Wednesday. That is up from a 2.3% yearly increase in April. Excluding the volatile food and energy categories, core prices rose 2.8% for the third straight month. Economists pay close attention to core prices because they generally provide a better sense of where inflation is headed.

The cost of groceries, toys and games, and large appliances rose, which could reflect the impact of President Donald Trump's tariffs. Yet the price of new and used cars, clothes, airfares, and hotel rooms all dropped from April to May.

On a monthly basis, overall prices ticked up just 0.1% from April to May, down from 0.2% the previous month, with inflationary pressures appearing muted. Core prices also dropped to 0.1% from 0.2%.

The data showed that Trump's tariffs haven't yet pushed overall prices higher, suggesting many companies may be absorbing the cost of the higher duties for now. Yet many economists expect the import taxes to modestly increase inflation in the second half of the year. Companies ranging from Walmart to Lululemon to J.M. Smucker have said they will raise prices in the coming months to offset the impact of tariffs.

"You can point to seeing tariffs in this report, but the more important message is that you're seeing inflation soften enough elsewhere that overall, price pressures continue to subside for the U.S. consumer," Sarah House, an economist at Wells Fargo, said.

But offsetting price drops for things like cars and air fares may not continue at the same pace for the rest of this year, she said.

"I don't think this report signals an all clear -- that tariffs are not going to be a concern for the inflation picture," House said.

The figures also show that core inflation remains stubbornly above the Federal Reserve's 2% target, which makes it less likely that the central bank will cut its key short-term interest rate. Trump has repeatedly urged the central bank to reduce borrowing costs.

Grocery prices rose 0.3% from April to May, and are up 2.2% in the past year. Fruits and vegetables, breakfast cereals, and frozen foods all rose last month. Egg costs fell 2.7%, though they are still more

than 40% more expensive than a year ago. Gas prices dropped 2.6% last month.

Marilyn Kirschner, editor of an online fashion magazine, was shopping for toothpaste Tuesday at Gristedes in lower Manhattan. She's surprised every day by high prices for items like Swiffer refills, which she said recently cost her $30.

"You go into the store and it's like, wait a minute, how can this be?" Kirschner said. "Every single thing. It's sticker shock at this point. It's scary, with rent and everything."

Peter Manning, a software engineer, bought a loaf of French bread and milk at Gristedes in his lower Manhattan neighborhood. He's been noticing high yogurt prices, at $8 or $9, and butter for $11.

"When we go out to the suburbs we shop there, because it's a little cheaper," Manning said. "I'm sure everything's going to probably go up. It takes a long time ... I tell my friends, this economy, we're

only to put them on hold a week later.

Kim Vaccarella, founder and CEO of Bogg Bag, a line of sturdy, washable handbags, said she had resisted raising prices even though all her products are manufactured in China. She stocked up on inventory in the spring, before the tariffs went into effect, and stopped importing when tariffs on China were at 145%.

The Seacaucus, N.J., company employs about 80 people and did $100 million in business in 2024.

Vaccarella plans to raise prices in July, with the original Bogg bag going from $90 to $95 and the "Baby" bag increasing from $70 to $75.

The increase isn't enough to fully cover the higher tariffs. She hopes not to raise prices any further, but said that it's hard to predict.

"We've forecasted, and reforecasted, and reforecasted again," she said. "We just need to get a handle of what will ultimately be the price we have to pay."

“You go into the store and it’s like, wait a minute, how can this be? Every single thing. It’s sticker shock at this point. It’s scary, with rent and everything.”

Marilyn Kirschner

watching a slow-motion train wreck."

Last week, the Labor Department's Bureau of Labor Statistics, which compiles inflation data, said it is reducing the amount of data it collects for each inflation report. Economists have expressed concern about the cutback. Still, less data could make inflation reports more volatile.

Nearly all economists expect Trump's duties will make many things more expensive this year, including cars and groceries, though by how much is still uncertain. Trump said Wednesday that the U.S. will keep its 30% tariff on all goods from China, first announced last month. When added to previous tariffs, Chinese goods will face duties of about 55%.

Trump has also imposed a 10% baseline tariff on imported goods from every other country, and 50% import taxes on steel and aluminum.

There are several reasons it can take months for the tariffs to be felt by consumers.

To begin with, many companies tried to beat the clock by bringing in foreign goods before Trump's tariffs took effect, producing a flood of imports in March. They have stockpiled goods that weren't hit by tariffs in warehouses, delaying price increases for customers.

Some also held off on hiking prices during the chaos of April and May, when Trump announced sweeping tariffs on imports from nearly 60 countries,

Bryan Eshelman, a partner and managing director at consulting firm AlixPartners, said higher prices "are coming."

Eshelman says Americans will start feeling the impact in July, and predicts prices for back-to-school items like clothing and backpacks could go up anywhere from 5% to 15%.

The impact is just starting to hit U.S. food producers, some of which have already passed along higher prices to customers. The J.M. Smucker Co., which raised the price for its coffee in May, said Tuesday that it will raise those prices again in August.

CEO Mark Smucker said that "the current US tariff impact on green coffee is our largest exposure." The company's shares tumbled 17% Tuesday.

J.M. Smucker imports 500 million pounds of green coffee annually, mostly from Brazil and Vietnam, which currently face the 10% universal tariff Trump imposed in April. But the two countries could face much higher tariffs when the pause on the so-called "reciprocal" tariffs ends in July.

Most imported goods are actually parts or raw materials for larger products, such as the steel and aluminum goods now facing 50% duties.

Trump EPA moves to repeal climate rules that limit greenhouse gas emissions from US power plants

By MATTHEW DALY Associated Press

THE Environmental Protection Agency on Wednesday proposed repealing rules that limit planet-warming greenhouse gas emissions from power plants fueled by coal and natural gas, an action that Administrator Lee Zeldin said would remove billions of dollars in costs for industry and help "unleash" American energy.

The EPA also proposed weakening a regulation

that requires power plants to reduce emissions of mercury and other toxic pollutants that can harm the brain development of young children and contribute to heart attacks and other health problems in adults.

The rollbacks are meant to fulfill Republican President Donald Trump's repeated pledge to " unleash American energy " and make it more affordable for Americans to power their homes and operate businesses.

If approved and made final, the plans would reverse efforts by Democratic President Joe Biden's administration to address climate change and improve conditions in areas heavily burdened by industrial pollution, mostly in lowincome and majority Black or Hispanic communities. The power plant rules are among about 30 environmental regulations that Zeldin targeted in March when he announced what he called the "most

consequential day of deregulation in American history."

Zeldin said Wednesday the new rules would help end what he called the Biden and Obama administrations' "war on so much of our U.S. domestic energy supply."

"The American public spoke loudly and clearly last November,'' he added in a speech at EPA headquarters. "They wanted to make sure that … no matter what agency anybody might be confirmed to lead, we are finding opportunities to pursue common-sense, pragmatic solutions that will help reduce the cost of living … create jobs and usher in a golden era of American prosperity."

Environmental and public health groups called the rollbacks dangerous and vowed to challenge the rules in court.

Dr. Lisa Patel, a pediatrician and executive director of the Medical Society Consortium on Climate & Health, called the proposals "yet another in a series of attacks" by the Trump administration on the nation's "health, our

children, our climate and the basic idea of clean air and water."

She called it "unconscionable to think that our country would move backwards on something as common sense as protecting children from mercury and our planet from worsening hurricanes, wildfires, floods and poor air quality driven by climate change."

"Ignoring the immense harm to public health from power plant pollution is a clear violation of the law,'' added Manish Bapna, president and CEO of the Natural Resources Defense Council. "If EPA finalizes a slapdash effort to repeal those rules, we'll see them in court."

The EPA-targeted rules could prevent an estimated 30,000 deaths and save $275 billion each year they are in effect, according to an Associated Press examination that included the agency's own prior assessments and a wide range of other research.

It's by no means guaranteed that the rules will be entirely eliminated — they can't be changed without going through a federal

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT, 2000

Ananda Venture Fund Ltd. (IN VOLUNTARY LIQUIDATION)

NOTICE IS HEREBY GIVEN that in accordance with section 138(6) of the International Business Companies Act, 2000, as amended, the winding up and dissolution of Ananda Venture Fund Ltd. is complete.

L. Michael Dean Sole Liquidator

Address: Equity Trust House Caves Village West Bay Street P.O. Box N-10697 Nassau, Bahamas

rulemaking process that can take years and requires public comment and scientific justification. Even a partial dismantling of the rules would mean more pollutants such as smog, mercury and lead — and especially more tiny airborne particles that can lodge in lungs and cause health problems, the AP analysis found. It would also mean higher emissions of greenhouse gases, driving Earth's warming to deadlier levels.

Biden, a Democrat, had made fighting climate change a hallmark of his presidency. Coal-fired power plants would be forced to capture smokestack emissions or shut down under a strict EPA rule issued last year. ThenEPA head Michael Regan said the power plant rules would reduce pollution and improve public health while supporting a reliable, longterm supply of electricity.

The power sector is the nation's second-largest contributor to climate change, after transportation.

In its proposed regulation, the Trump EPA argues that carbon dioxide and other greenhouse gases from fossil fuel-fired power plants "do not contribute significantly to dangerous pollution" or climate change and therefore do not meet a threshold under the Clean Air Act for regulatory action. Greenhouse gas emissions from coal and gas-fired plants "are a small and decreasing part of global emissions,'' the EPA said, adding: "This Administration's priority is to promote the public health or welfare through energy dominance and independence secured by using fossil fuels to generate power."

The Clean Air Act allows the EPA to limit emissions from power plants and other industrial sources if those emissions significantly contribute to air pollution that endangers public health.

An Omaha food plant owner says he followed the rules for hiring immigrants. It was raided anyway.

By MARGERY A. BECK

Associated Press

THE owner of an Omaha food packaging company says his business has been unfairly hamstrung by federal immigration officials, who raided the plant and arrested more than half its workforce.

The raid took place despite the company meticulously following the government’s own system for verifying the workers were in the country legally, owner Gary Rohwer said Wednesday.

Glenn Valley Foods now is operating at about 30% of capacity as the business scrambles to hire more workers, Rohwer said as he stood outside the plant.

Asked how upsetting the raid was, Rohwer replied, “I was very upset, ma’am, because we were told to e-verify, and we e-verified all these years, so I was shocked.”

“We did everything we could possibly do,” he said.

E-Verify is an online U.S. Department of Homeland Security system launched in the late 1990s that allows employers to quickly check if potential employees can work legally in the U.S., often by using Social Security numbers.

Some of America’s largest employers use it, including Starbucks and Walmart, but the vast majority of employers do not. Critics say the system is fairly easy to cheat, particularly with false documents.

Rohwer noted that federal officials have said his

company was a victim of those using stolen identities or fake IDs to get around the E-Verify system, which lead agents conducting the raid described as “broken” and “flawed” to Glenn Valley executives. But that does nothing to repair the company’s bottom line, Rohwer said. “I’d like to see the United States government ... come up with a program that they can communicate to the companies as to how to hire legitimate help. Period,” he said.

U.S. Immigration and Customs Enforcement confirmed that more than 70 people were arrested during the Glenn Valley Foods raid on Tuesday. It also said one of the workers, described as a Honduras national, assaulted federal agents as he was being detained. The Omaha raid comes amid an immigration crackdown under President Donald Trump. The administration has been intensifying its efforts in recent weeks, and Trump deployed more than 4,000 National Guard troops and 700 Marines this week to respond to ongoing protests in Los Angeles over his immigration policies. The raid, in the southeastern section of Omaha where nearly a quarter of residents are foreign born according to the 2020 census, led to hundreds of people turning out to protest Tuesday evening. But it also had a chilling effect on the south Omaha community.

NOTICE

Amazon Feelings Limited

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 210577 B (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 10th day of June A.D. 2025.

Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Valdenice Corrêa Garcia, whose address is R Terezina, 275 AP-1001, Adrianopolis, AME 275Zona Centro-SUL, CEP: 69057-070, Manaus, AM, Brazil. Any Persons having a Claim against the above- named Company are required on or before the 11th day of July 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 beneft of any distribution made before such claim is proved.

Dated this 10th day of June A.D. 2025.

VALDENICE CORRÊA GARCIA LIQUIDATOR

The Metropolitan Community College’s South Omaha campus and an Omaha library branch in the area closed Tuesday afternoon, and several businesses along south Omaha’s normally bustling 24th Street closed as news of the raid spread. Several of them remained closed Wednesday, said Douglas County

Board of Commissioners Chairman Roger Garcia, whose district covers south Omaha.

“Everybody’s still on alert, waiting to see what happens today and in the coming days,” Garcia said. “So there’s still a lot of anxiety and fear out there.”

That fear will show up in the form of a weakened

economy in Omaha, he added.

“You know, when products are not being sold, taxes are not being collected, and people are not able to get their goods as well. So it affects all of us,” he said. An aunt of Garcia’s wife was among those taken away by ICE during the Omaha raid, he said. They have been unable to determine where she is being held.

The raid came on the same day of the inauguration of newly elected Omaha Mayor John Ewing, a Democrat who unseated three-term Republican Jean Stothert last month.

During a news conference Wednesday to address the raid, Ewing declined to

speculate on whether the timing of it was intended to distract from his swearingin. But he denounced the action by federal authorities, saying, “My message to the public is that we are with them.”

Omaha Police Chief Todd Schmaderer also declared that his department will play no part in checking immigration or the legal status of residents in the community.

“That is not our mission. Our mission is public safety,” the chief said. “I need victims to come forward. They will not come forward if they’re fearful of Omaha Police Department being immigration officers.”

International Business Companies Act No. 45 of 2000

PARTNERS GROUP LTD

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution has cate of Dissolution has been issued, and the Company has therefore e date of completion of the dissolution was the 22nd

BRILA Adauto of Omaha waves a Mexican flag as hundreds gather in after U.S. Immigration and Customs Enforcement conducted a raid earlier in the day in Omaha, Neb. on Tuesday, June 10, 2025. Photo:Nikos Frazier/AP

Wall Street’s rally stalls as US stocks dip for their 1st loss in 4 days

By STAN CHOE AP Business Writer

WALL Street's rally

stalled on Wednesday after U.S. stocks climbed back within 2% of their all-time high.

The S&P 500 fell 0.3% for its first loss in four days. The Dow Jones Industrial Average was virtually unchanged after edging down by 1 point, and the Nasdaq composite slipped 0.5%.

Several Big Tech stocks led the way lower, and a 1.9% drop for Apple was the heaviest weight on the market. It's been listless this week after unveiling several modest upcoming changes to the software that runs its devices.

The action was stronger in the bond market, where Treasury yields eased after a report suggested President Donald Trump's tariffs are not pushing inflation much higher, at least not yet.

U.S. consumers had to pay prices for food, gasoline and other costs of living that were 2.4% higher overall in May than a year earlier. That was up from April's 2.3% inflation rate,

but it wasn't as bad as the 2.5% that Wall Street was expecting.

A fear has been that Trump's wide-ranging tariffs could ignite an acceleration in inflation, just when it had seemed to get nearly all the way back to the Federal Reserve's 2% target from more than 9% three summers ago. It hasn't happened, though economists warn it may take months more to feel the full effect of Trump's tariffs.

"Another month goes by with little evidence of tariffs, but the longer-term inflation challenge they pose remain," according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.

Financial markets also had only modest reactions to the conclusion of two days of trade talks between the United States and China in London.

Trump said Wednesday that China will supply rareearth minerals and magnets to the United States, while his government will allow Chinese students into U.S. universities in a deal that still needs an agreement by

him and by China's leader. Trump also said that "President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!"

Investors are still hoping for a more sweeping trade deal that would ease tensions between the world's two largest economies.

Hopes for such deals between the United States and countries around the

world have been one of the main reasons the S&P 500 has charged nearly all the way back to its all-time high after dropping roughly 20% below a couple months ago. Without them, the fear is that Trump's high tariffs could drive the economy into a recession while pushing inflation higher. The S&P 500 is now sitting 2% below its record.

On Wall Street, Chewy dropped 11% after the seller

of pet supplies reported a weaker profit for the latest quarter than analysts had forecast. Expectations were high after its stock had already rallied nearly 37% coming into the day for the year so far.

Tesla swung between gains and losses before finishing with a rise of 0.1% to continue its shaky run. It's been recovering much of its big losses taken last week after Elon Musk's relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday backed away from some of his earlier comments and said they went "too far."

All told, the S&P 500 fell 16.57 points to 6,022.24. The Dow Jones Industrial Average slipped 1.10 to 42,865.77, and the Nasdaq composite sank 99.11 to 19,615.88.

In the bond market, the yield on the 10-year Treasury eased to 4.41% from 4.47% late Tuesday. Shorter-term yields, which more closely track expectations for what the Fed will

do with overnight interest rates, fell more.

Wednesday's betterthan-expected reading on inflation raised expectations along Wall Street that the Fed could cut its main interest rate at least twice by the end of the year.

The Fed has been keeping interest rates steady so far this year, going on pause after cutting rates at the end of last year. It has been waiting to see how much Trump's tariffs raise inflation because cutting interest rates could push inflation up even more, in addition to giving the economy a boost.

"The Fed could be justified in doing some preemptive rate cuts," said Brian Jacobsen, chief economist at Annex Wealth Management. "They were afraid that inflation would rise before growth would slow, but the script has been flipped and they will likely change their tune." In stock markets abroad, indexes fell across much of Europe after rising in Asia. South Korea's Kospi was one of the best performers and jumped 1.2%.

Photo:Richard Drew/AP

Brazil’s Supreme Court justices agree to make social media companies liable for user content

By MAURICIO SAVARESE and ELÉONORE HUGHES Associated Press

THE majority of justices on Brazil's Supreme

Court have agreed to make social media companies liable for illegal postings by their users, in a landmark case for Latin America with implications for U.S. relations.

Brazil's top court decided to rule on two different cases to reach an understanding on how to deal with social media companies as reports of fraud, child pornography and

violence among teenagers become rampant online. Critics warn such measures could threaten free speech as platforms preemptively remove content that could be problematic.

Gilmar Mendes on Wednesday became the sixth of the court's 11 justices to vote to open a path for companies like Meta, X and Microsoft to be sued and pay fines for content published by their users.

Voting is ongoing but a simple majority is all that is needed for the measure to pass.

The ruling will come after U.S. Secretary of State Marco Rubio warned of possible visa restrictions against foreign officials allegedly involved in censoring American citizens.

One such official reportedly is Brazilian Justice Alexandre de Moraes, who has taken measures against social media outlets he deemed to have not complied with Brazilian law.

The only dissenting Brazilian justice so far is André Mendonça and his vote was made public last week. The court is yet to decide how such regulations will be enacted.

Mendonça said free speech on social media is key for the publication of information that "holds powerful public institutions to account, including governments, political elites and digital platforms."

Justice Flávio Dino, the first to vote on Wednesday, reminded his colleagues that recent cases of school shootings in Brazil were stimulated on social media. He read out postings by one user who said he was happy by watching families of dead children "weeping, bleeding, dying."

"I think social media has not made humanity closer

to what it has produced in best fashion," he said.

The social media proposal would become law once voting is finished and the result is published. But Brazil's Congress could still pass another law to reverse the measure.

The current legislation states social media companies can only be held responsible if they do not remove hazardous content after a court order.

Public debate on regulating social networks increased in Brazil in the aftermath of the Jan. 8 riot in 2023, when supporters of former president Jair Bolsonaro ransacked Congress, the presidential palace and the Supreme Court in the capital, Brasilia. Platforms need to be proactive in regulating content, said Alvaro Palma de Jorge, a law professor at the Riobased Getulio Vargas Foundation, a think tank and university.

"They need to adopt certain precautions that are not compatible with simply waiting for a judge to eventually issue a decision ordering the removal of that content," Palma de Jorge said.

Wednesday's ruling brings Brazil's approach to big tech closer to the European Union's approach, which has sought to rein in the power of social media companies and other digital platforms.

Rendering platforms automatically accountable for content on their platforms may infringe freedom of speech as they could resort to preemptively removing content, according to the Sao-Paulo based Brazilian Chamber of Digital Economy, an organization that represents sectors of the digital economy.

"This type of liability favors large companies with robust legal structures, to the detriment of smaller, national players, which negatively impacts competition," said the organization, adding that the decision may increase barriers to innovation.