US growth returns to LPIA with second busiest May in history
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
AFTER ten consecutive months of declining US passenger trafc, Lynden Pindling International Airport (LPIA) saw a return to growth in May, with airport executives reporting a fve percent increase from its largest source market.
Vernice Walkine, president and chief executive of Nassau Airport Development Company (NAD), said May was likely the second-busiest May in the airport's history and ofered encouraging signs heading into the peak summer travel season.
"This May was probably the second-busiest May we've ever had in our history," Ms Walkine said during yesterday's launch of Breeze Airways' inaugural Tampa-Nassau service.
5% growth in market recorded with ‘US business being restored’
LPIA snaps 10-month US passenger losing streak
New Tampa route adds to optimism for summer travel demand
Boost for Bahamas economy with new direct Tampa to Nassau ights
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE frst direct jet service between Nassau and Tampa in more than two decades touched down yesterday as Breeze Airways launched twice-weekly fights that tourism ofcials hope will unlock a ‘mountain of interest’ in travel to The Bahamas.
The frst plane arrived at the Lynden Pindling International Airport (LPIA)
carrying approximately 120 passengers from Tampa. The airline will initially operate twice-weekly fights on Thursdays and Sundays before expanding to four weekly services in July.
Glenys Hanna-Martin, Minister of Tourism, Investments and Aviation, said the launch strengthens ties between The Bahamas and one of its most important source markets.
"This morning we welcomed 120 passengers into
Work to revitalise Bay Street to begin ‘soon’
By FAY SIMMONS Tribune Business Reporter
jsimmons@tribunemedia.net
TOURISM Minister
Glenys Hanna-Martin says Nassau has been discussing downtown redevelopment "since King Hammer was a hatchet," acknowledging decades of stalled progress while promising that work to revitalise Bay Street will begin soon.
Speaking to reporters, Mrs Hanna-Martin said successive eforts to transform downtown Nassau have failed to deliver the level of change many Bahamians hoped to see.
"We've been hearing about downtown redevelopment since King
Hammer was a hatchet, and truthfully, we have not made the kind of progress we would wish to see," said Mrs Hanna- said. Her comments come as the Government continues eforts to revive downtown Nassau through
Island Site Development lands
$71m Glass Window Bridge deal
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE Government has selected a preferred contractor for the long-awaited Glass Window Bridge replacement, with Works Minister Clay Sweeting revealing that the $71.7m project is expected to reach fnancial close within the next two to three months.
LPIA sets sights on major terminal expansion
Developer eyed for longawaited hotel
By FAY SIMMONS Tribune Business Reporter jsimmons@ tribunemedia.net
LYNDEN Pindling International Airport (LPIA) is close to identifying a developer for its long-awaited airport hotel while advancing plans for a major terminal and airside expansion aimed at easing congestion and accommodating future growth. Vernice Walkine, president and chief executive of Nassau Airport Development Company (NAD), said proposals for the airport hotel are currently under review.
"We are close to identifying a developer for the airport hotel," said Ms Walkine.
"We have received submissions and those proposals are currently under review."
New Providence from Tampa, and this deepens the interface between our peoples," she said.
"Florida remains the strongest market for The Bahamas, and today we welcomed the frst direct link with Tampa, a market that has always shown strong interest in Nassau and The Bahamas but never had a direct route."
Mrs Hanna-Martin said early indications suggest strong demand for the service.
"As soon as this fight was announced, we saw a 45 percent increase in interest in the route. That tells us we may be sitting on a mountain of interest coming out of Tampa into New Providence," she said.
John Tiliacos, chief operating ofcer of Tampa International Airport, described the launch as a signifcant milestone.
"This is the frst jet service between Tampa and Nassau in more than 20 years," said Mr Tiliacos.
"Breeze has launched with two fights a week, and that will grow to four fights a
The project has been under consideration for approximately a decade and forms part of wider eforts to expand services and amenities at the country's largest airport. Earlier this year, NAD indicated it hoped to select a developer following a proposal process for a hotel that could include up to 240 rooms.
Ms Walkine stressed that while the hotel will be located on airport property, it will not be developed by NAD itself.
"The hotel will be located on LPIA property, but it will not be a NAD project. We are not investing in the hotel ourselves, but we are excited about its potential," she said.
Beyond the hotel development, Ms Walkine revealed that NAD has already presented airport expansion plans to Minister Energy, Utilities and Aviation JoBeth Coleby-Davis and intends to brief Minister of Tourism and Investments Glenys Hanna-Martin.
"We recently presented our expansion plans to Minister Coleby-Davis and will also be
"I am pleased to report that the procurement process for the new Glass Window Bridge has now been successfully concluded, with Island Site Development Ltd identifed as the preferred contractor following a comprehensive technical and commercial evaluation process," he said.
Mr Sweeting said the recommended contract award is valued at approximately $71.7m and is supported by
Contributing to the 2026-2027 Budget debate in Parliament, Mr Sweeting said the procurement process has now been completed and Island Site Development Ltd identifed as the preferred contractor following technical and commercial evaluations.
GLENYS HANNA-MARTIN
VERNICE WALKINE
LYNDEN PINDLING INTERNATIONAL AIRPORT (LPIA)
NHI heading for ‘dystopian future’ warning if payment delays continue
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
A NATIONAL Health Insurance (NHI) provider warned that the scheme is headed for “a very dystopian future” despite a budget increase of some $24.5m allocated for the National Health Insurance Authority (NHIA) if the government continues with payment delays, communication breakdowns and fnancial disputes with providers.
Criticisms from Dr Denotrah Archer-Cartwright, a leading voice among NHI providers, comes as a response to
Health and Wellness Minister Michael Darville’s Budget Communication, in which he announced a $72.2 million allocation for the NHIA, representing an increase of approximately $24.5 million over the previous fscal year.
Dr Archer-Cartwright said the increased funding ofered little reassurance to physicians who remain owed money for services already rendered and who continue to face what she described as an increasingly strained relationship with the NHIA.
“What they keep doing is they are meeting with the MAB,” she said, referring to the Medical Association of The Bahamas. “The MAB
president is on the board, which is already a confict of interest.
“The majority of the doctors are in our group. We have not been approached about meeting with them. They keep putting of and saying they’ll get back to us about a meeting. But they don’t seem to have an interest in speaking with us as a group.”
The dispute highlights growing tensions between NHI providers and the government over the future direction of the programme.
Physicians have repeatedly raised concerns in recent years over delayed reimbursements, administrative burdens and funding shortfalls, issues that have
surfaced publicly on several occasions as the government sought to broaden healthcare access through NHI.
Dr Archer-Cartwright argued that providers are being denied the opportunity to collectively negotiate or discuss their concerns with the Ministry of Health.
“And what I said to Dr Darville- because I just happened to see him, actually, so strange- is what is the issue, because when they want to meet us as a group, they call us in as medical directors,” she said. “But when we say we want to meet with them as a group, it becomes a problem. ‘Oh, you guys are individual
Critical assessment of PMH and Rand by independent health task force
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
THE Ministry of Health and Wellness will launch an independent health task force next month which will, for up to 12 weeks, conduct a comprehensive review of public hospital operations and service delivery system, with reported recommendations expected to be implemented immediately.
Dr Michael Darville, during his contribution to the 2026-2027 Budget debate, said the task force will undertake a critical assessment of operations at both the Princess Margaret Hospital and Rand Memorial Hospital, including a review of budget allocations and service delivery performance.
“Next month my Ministry will launch an independent
Health Task Force whose mandate will be to look closely at our public hospital operations and service delivery systems,” Dr Darville said.
“Critical assessments will be made inclusive of the budgetary allocations for both the Rand Memorial Hospital and Princess Margaret Hospital.”
The minister said the task force’s work will be completed within 12 weeks and will include consultations with healthcare professionals across the system as well as members of the public.
“The work of the Task Force will take place over a period of no more than twelve weeks and will involve consultations with healthcare professionals at all levels,” he said.
“Finally, the people of this country and by extension patients who use our public
hospitals will have their say on the way forward.”
Dr Darville said the review comes despite signifcant investments made by the Davis administration over the past four years to strengthen healthcare services throughout the country.
“Over the last four years, we invested heavily into this strategy and seen many major healthcare breakthroughs,” he said. “But I will be the frst to admit that the struggle is real, and many challenges still exist across the entire healthcare system that need focused attention particularly at our public hospitals.”
The minister acknowledged ongoing concerns over lengthy waiting times, stafng shortages and service quality issues that continue to afect patients seeking care.
contractors.’ So, what is the issue about meeting with us, our group, to discuss the problems that we're all having?
“The reason why we want to meet as a group is because as individuals, a lot of physicians feel intimidated. They get kind of railroaded. They have an entire legal team, and you’re sitting there by yourself. So, it’s an uneven partnership at the moment.”
Her strongest criticism was directed at the government’s plans to expand NHI services despite what she described as unresolved operational and fnancial problems. During his budget presentation, Dr Darville said
recommendations will be complied by the Secretariat of the task force in a comprehensive report that will be laid in this honourable House,” he said.
the additional funding would strengthen the NHI Prescription Drug Fund, improve access pathways, expand coverage and support the integration of additional public healthcare facilities and providers into the programme. He also acknowledged payment delays experienced by some providers during the government’s previous term in ofce.
“But despite our eforts over the last four years there is always room for improvement particularly with the long waiting times, staf shortages, the quality of service and protocols that sometimes seem to be counter-productive,” Dr Darville said.
He added that the task force’s fndings will be measured against recommendations previously made to hospital management, physicians, clinical staf and administrators to determine what reforms remain outstanding.
“The task force critical analysis and
“Immediately following the release of this report, the implementation of recommendations will begin.”
Dr Darville said the government’s healthcare reform eforts have been shaped by challenges identifed after the Progressive Liberal Party returned to ofce in 2021, including aging hospital infrastructure, manpower shortages and funding constraints.
“When we took ofce in 2021, the initial assessment of our healthcare system highlighted many red fags, but three that stood out the most. And they are, the aging infrastructure of our hospitals, manpower shortages and funding shortages,” he said. He argued that the government has since worked with the Ministry of Finance to address debts accumulated during the COVID-19 pandemic while investing in infrastructure upgrades, service expansion, healthcare worker recruitment, legislative reforms and digital transformation initiatives aimed at improving efciency and reducing costs.
Budget boost for all local govt. districts
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
EVERY local government district in The Bahamas will receive an increase in its budget allocation during the upcoming fscal year.
Contributing to the 2026-2027 Budget debate, Minister of Works and Family Island Afairs Clay Sweeting said all 33 local government districts throughout the country will beneft from increased funding.
"For the 2026-2027 fscal year, every single council in the Commonwealth of The Bahamas, all 33 districts, on every single island, will receive an increase in their budget allocation," he said.
Mr Sweeting said the additional funding refects enhanced stipends for councillors, town committee members and statutory board members under the Local Government Act, 2024.
He argued that the increase demonstrates the Government's commitment to strengthening local government administration
throughout the Family Islands.
"In less than fve years, this PLP administration has increased the budget allocation not once but twice for local councils," he said. He also revealed that Cabinet has approved eforts to regularise more than 100 local government employees.
"My ministry has received Cabinet approval and has commenced an aggressive push for the regularization of 116 staf members across the length and breadth of the Commonwealth from temporary and contractual employment to permanent and pensionable employees of the government," said Mr Sweeting. He added that the same process is being undertaken for 14 family administrators currently employed on contract.
Mr Sweeting said the Department of Local Government continues to play a critical role in delivering government services throughout the archipelago and remains the only central government agency directly involved in supporting the operations of every Family Island district.
Dr Darville said healthcare agencies under his ministry perform diferent but essential functions and stressed that sustained investment remains necessary across all levels of the healthcare system, from preventive care and community clinics to specialist and tertiary services throughout the archipelago.
He also highlighted eforts to improve training and accountability within local government operations.
According to Mr Sweeting, the department has expanded training initiatives throughout the Family Islands aimed at standardising accounting procedures and improving operational efciency.
In addition, revisions to the local government manual of procedures have now been completed following amendments to the Local Government Act.
Mr Sweeting also disclosed that a number of local government ofces and government residences occupied by family administrators have deteriorated signifcantly and require renovation, rehabilitation or complete reconstruction.
To address those concerns, he said the Ministry of Works' engineering team will undertake assessments to determine the scope of improvements required, with work expected to advance during the upcoming budget period.
He said the investments are intended to ensure family administrators and local government ofcials have the facilities and resources needed to efectively serve communities throughout th
DR DENOTRAH ARCHERCARTWRIGHT
Stakeholders ready for travel peak
RECOVERY - from page B1
The NAD chief executive said the most encouraging development was the return to growth from the United States market after an extended period of decline.
“After ten months of negative performance from the US market, we saw fve percent growth from the
United States in May,” she said. “It appears that US business is being restored, and we are hopeful that trend will continue through the summer.”
Ms Walkine said passenger growth was recorded across all major categories. “We saw signifcant growth across the domestic, international and US
Bahamas strengthens key tourism market
DEMAND - from page B1
week by next month. Hopefully, we can convince Breeze to make it a daily service.”
He added: “As a Bahamian, this is a very proud day for me.”
Joy Jibrilu, chief executive of the Nassau Paradise Island Promotion Board, said the route has been under discussion for years because of strong demand from travellers in the Tampa market.
“This route has been in the works for a very long time,” she said. “We have seen strong interest from travellers in Tampa, but getting to Nassau was challenging because they often had to connect through Miami or Orlando.”
Mrs Jibrilu said the new service is expected to beneft both New Providence and the Family Islands.
“Nassau is the launch pad for The Bahamas. If visitors spend a couple of nights in Nassau and then travel on
NHI expansion slammed as debts mount
NHI - from page B2
“I will be the frst to admit that our last term in ofce we experienced some delays in payment to some NHI providers, one who I met early this morning in the food store,” Dr Darville said. “These delays were due to a number of reasons that I will not go into during this budget debate. But I am pleased to report to her and other providers across the country, after close collaboration with the Ministry of Finance, additional funding for NHI was allocated in this year’s budget to mitigate this vexing challenge and to compensate for the natural growth of the programme and to ensure that we are able to bring on additional public healthcare facilities as well as public and private sector providers.”
He added that additional funding had been secured
through collaboration with the Ministry of Finance to address the issue and support the programme’s growth. However, Dr Archer-Cartwright questioned the logic of expanding services before settling existing obligations.
“He said they’re now going to be covering NHI drugs, so that’s an expansion of their responsibilities,” she said. “They’re going to be expanding to the government clinics. Why would you need to do that?
“The doctors you have now, you’re not paying them on time. Whatever the issue is in the background, they won’t tell us.
“They continue to expand. They want to add some catastrophic care, they want to add the pharmacy aspect of it. But you’re not dealing with what you have in front of you.”
She also questioned how the government intends to
NOTICE
OXOSSI LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 206974 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 11th day of June A.D. 2026.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Eric de Oliveira Piunti, whose address is Rua Florida 1901, AP 291, Coral Gable, CEP: 04565-001, Sao Paulo, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 11th day of July A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the beneft of any distribution made before such claim is proved.
Dated this 11th day of June A.D. 2026.
ERIC DE OLIVEIRA PIUNTI LIQUIDATOR
CREDITOR’S NOTICE
markets in May, and we are hopeful June will continue to perform well, particularly with the addition of the Tampa service,” she added.
The comments come as airport ofcials prepare for what is traditionally one of the busiest travel periods of the year.
“July and the frst half of August are typically our busiest periods because
to one of our Family Islands, everybody wins,” she said.
She added that promotional eforts in the Tampa market have been generating positive responses.
“People in Tampa are excited. We’ve been on television every day this week, and before we could even begin talking, the hosts were telling us how much they love The Bahamas and how excited they were about this new route.”
Vernice Walkine, president and chief executive of Nassau Airport Development Company, said the service supports broader eforts to diversify airlift and improve connectivity.
“We have been working on this Tampa service for a long time, so it is exciting to
families are travelling with their children, and we expect to be very busy again this summer,” said Ms Walkine.
She said NAD has already begun coordinating with airlines, security agencies and other airport stakeholders to ensure the airport can handle increased passenger volumes efciently.
see it come to fruition,” she said.
Breeze Airways founder and chief executive David Neeleman said Nassau represents an attractive addition to the carrier’s growing network.
“Nassau is a premier Caribbean destination we know our guests will love,” said Mr Neeleman.
The airline currently serves 88 cities across the United States, Mexico, Central America and the Caribbean.
Tourism ofcials said they hope the route will eventually expand beyond four weekly fights as demand grows.
DR MICHAEL DARVILLE
fnance new services while simultaneously addressing arrears owed to providers.
“The questions that you guys need to ask him is, what is the defcit owed to the physicians each month, and how much of that [budget] money is going to that,” she said.
“If you’re expanding the programme, which means that more people will be coming on, how much money is allocated to that?”
Dr Archer-Cartwright further alleged that
physicians are being forced to absorb costs associated with operating the programme through fees deducted from payments without their consent.
“Right now we have an issue where they are charging us without our consent the money that they’re owed to us,” she said.
“They’re taking fees out, fees that we did not agree to to sustain the NHI programme. Doctors are now paying for the programme.”
Legal Notice
International Business Companies Act (No. 45 of 2000)
MAM Business Investment Ltd. (the “Company”)
In Voluntary Liquidation
Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), MAM Business Investment Ltd. (the “Company”) is in Dissolution. e date of commencement of the Dissolution is the 10th June, 2026. Gustavo Dos Santos Vaz is the Liquidator and can be contacted at Av General Leite de Castro, Bl 2 Ap 71, Jardim Santa Cruz, CEP 04182-020, São Paulo – SP, Brazil. All persons having claims against the abovenamed Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before the 13th July, 2026.
Gustavo Dos Santos Vaz Liquidator
C. B. SECURITIES LTD. (In Voluntary Liquidation) Registration Number: 42,457
NOTICE IS HEREBY GIVEN that C. B. Securities Ltd. (“the Company”), incorporated under the laws of the Commonwealth of e Bahamas has been placed into voluntary liquidation.
e Joint Voluntary Liquidators (“the Liquidators”) of the Company are Mr. Mark E. Munnings and Ms. Tiphaney C. Russell of Deloitte & Touche, Dehands House, 2nd Terrace West, Centreville, P.O. Box N-7120, Nassau, New Providence, e Bahamas. All persons having claims against the above-named Company are required to submit particulars of their claims, duly veri ed, to the Liquidators at the address stated below on or before 13 July 2026, a er which date the Liquidators may proceed to distribute the assets of the Company having regard only to claims of which notice has been received.
Dated this 11th day of June 2026.
Mark E. Munnings & Tiphaney C. Russell Joint Voluntary Liquidators For and on behalf of C. B. Securities Ltd.
(In Voluntary Liquidation)
c/o Deloitte & Touche Bahamas Dehands House, 2nd Terrace West, Centreville P.O. Box N-7120 Nassau, New Providence e Bahamas
“We meet with all of our stakeholder partners to ensure everyone is fully stafed, and we look for ways to move passengers through the airport more efciently on both arrivals and departures,” she said.
An important component of the preparations, Ms Walkine added, is ensuring all passenger processing systems and baggage handling equipment are operating efectively.
“Last summer was actually one of our best
summers in terms of efciency, and we intend to implement many of the same measures again this year.”
While fnal projections for July trafc have not yet been completed, Ms Walkine said airport ofcials expect another strong summer season.
“We will have a better sense of that in another week or so, but we expect July to be very, very busy,” she said.
Airport hotel developer near selection
PLANNING - from page B1
sharing them with Minister Hanna-Martin,” she said.
According to Ms Walkine, the plans include expanding terminal facilities and making significant airside improvements designed to improve operational efciency and reduce congestion.
“We need to expand our terminal footprint and undertake signifcant airside improvements to reduce congestion,” she said.
“The plan includes measures such as rapid-exit
She added that providers continue to face changing policies, reconciliation disputes and reimbursement challenges that are placing fnancial pressure on medical practices. Despite her criticism, Dr Archer-Cartwright said physicians remain supportive of NHI’s broader objective of expanding healthcare access for Bahamians.
“We want all Bahamians to get access to health care,” she said. “That is the priority.
“But it has to be done in a manner where physicians are not in debt, or so burdened by the system that they want to quit.”
She argued that the government’s latest budget presentation lacked sufcient detail on how much of the increased allocation would be directed toward clearing provider
taxiways and other infrastructure upgrades. It is a comprehensive plan.”
She said NAD is exploring fnancing options that would allow the redevelopment to move forward.
“We are hopeful we will be able to move forward in the not-too-distant future through refnancing our debt to enable the project to happen,” said Ms Walkine. “We are optimistic.”
The comments come as airport executives report improving passenger trafc trends and increasing confdence in future demand.
arrears and ensuring future sustainability.
“We need more clarity,” she said. “That $72 million can encompass a lot of things in there.
“I do not see room for the proper growth. We’re going to be in the same spot again if they don’t allocate enough funds for this growth.
“There’s so many things that they’re just kind of glossing over with this general idea of more money. But are we fxing the issues?”
Dr Darville described the nearly $468.5 million allocated to the Ministry of Health and Wellness under the 2026-2027 Budget as the largest healthcare allocation in Bahamian history, saying it demonstrates the government’s commitment to healthcare reform throughout the archipelago.
NOTICE
MACQUARIE COMMODITIES TRADING BAHAMAS LTD. (the “Company”)
Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, 2000, the Dissolution of MACQUARIE COMMODITIES TRADING BAHAMAS LTD. has been completed and the Company has been struck o the Register, pursuant to a Certi cate of Dissolution issued by the Registrar General on the 12th day of November 2025.
Mark E. Munnings and Tiphaney C. Russell Joint Liquidators of MACQUARIE COMMODITIES TRADING BAHAMAS LTD.
NOTICE OF VOLUNTARY WINDING UP
C. B. SECURITIES LTD.
(In Voluntary Liquidation)
Registration Number: 42,457
TAKE NOTICE that C. B. Securities Ltd. (“the Company”) was placed into liquidation on 21 May 2026 by a resolution passed at a meeting of the Company held on 21 May 2026.
AND FURTHER TAKE NOTICE that Mr. Mark E. Munnings and Ms. Tiphaney C. Russell of Deloitte & Touche, Dehands House, 2nd Terrace West Centreville, P.O. Box N-7120, Nassau, New Providence, e Bahamas, have been appointed as the Joint Voluntary Liquidators of the Company. Dated this 11th day of June 2026.
Mark E. Munnings & Tiphaney C. Russell Joint Voluntary Liquidators For and on behalf of C. B. Securities Ltd. (In Voluntary Liquidation) c/o Deloitte & Touche Bahamas Dehands House, 2nd Terrace West, Centreville P.O. Box N-7120 Nassau, New Providence e Bahamas
Bay Street revival seen as economic boost
REVIVAL - from page B1
the redevelopment of Bay Street, restoration of historic buildings and plans aimed at attracting increased visitor activity to the city centre.
Mrs Hanna-Martin said the challenge extends beyond physical infrastructure improvements.
additional announcements could be forthcoming.
“Stay tuned,” she said.
“The work will begin very soon.”
“I remember what Bay Street used to be — an eclectic, dynamic space — and we have a lot of work to do,” she said.
“It’s not just about the physical state of downtown. It’s about the oferings, it’s about the experience, it’s about everything.”
For years, governments of varying political administrations have pursued plans to revitalize Bay Street amid concerns over vacant buildings, deteriorating properties and increased competition from resortbased tourism oferings that often keep visitors away from downtown Nassau.
Infrastructure push extends beyond bridge
DOCKS - from page B1
a contingency allowance of $7.17m.
He added that the project encompasses more than just the bridge itself, incorporating a new dock in Hatchet Bay, a temporary bridge and tourism-related amenities at the Glass Window Bridge site.
According to Mr Sweeting, the project is now advancing toward fnancial close, which is anticipated within the next two to three months.
In the meantime, advance works are already being mobilised, including geotechnical investigations at the proposed pier locations.
“For years the Glass Window Bridge represented
Mrs Hanna-Martin argued that any successful redevelopment strategy must focus on showcasing
a discussion. Today, it represents an active construction programme,” Mr Sweeting told Parliament.
He said the completed bridge will stand higher, stronger and safer than the existing structure, reducing weather-related disruptions and improving connectivity between North and South Eleuthera.
“For the people of Eleuthera, this is not simply a bridge. It is a lifeline and an economic corridor. It is a promise that is fnally becoming reality.”
Opening of Canada-US bridge that Trump threatened to block is delayed over unresolved ‘issues’
By JOEY CAPPELLETTI and COREY WILLIAMS Associated Press
THE opening of a Canadian-U.S. bridge across the Detroit River, which President Donald Trump had previously threatened to block, was delayed Thursday due to unresolved issues.
In a statement released before a scheduled Friday ribbon-cutting ceremony at the bridge, the Windsor-Detroit Bridge Authority said that “Canada and the United States have agreed to delay the opening of the bridge, taking the necessary time to resolve any outstanding issues.” It didn’t elaborate on what those issues are or how long the delay would last.
The 1.5-mile-long (2.4-kilometer-long) Gordie Howe International Bridge spans the Detroit River and connects the Motor City with Windsor, Ontario. The bridge is jointly owned by Canada and Michigan and was expected to open to trafc later this month.
But the opening had been thrown into question after Trump in February demanded in a social media post that Canada turn over at least half of the
bridge’s ownership to the U.S. federal government and agree to other unspecifed demands in one of the Republican president’s many salvos over cross-border trade issues.
Michigan ofcials and the White House had been in contact for months about the bridge following Trump’s post, with the understanding that the opening would move forward Friday. Invitations for the bridge’s opening went out this week following a conversation between Michigan Gov. Gretchen Whitmer, a Democrat, and White House chief of staf Susie Wiles.
“This project is a powerful example of bipartisan and international cooperation, and the governor looks forward to attending the ribbon-cutting ceremony when it happens,” a statement from Whitmer spokesperson Bobby Leddy said.
New bridge a “longterm play”
Internal disagreements within the Trump administration threw those plans into question, as Commerce Secretary Howard Lutnick pushed back on the opening, according to two people
with knowledge of the matter who insisted on anonymity to discuss the private talks.
The White House did not immediately return a request for comment Thursday.
Canadian Prime Minister Mark Carney hinted Wednesday that the opening could be delayed, while downplaying any concerns.
“There is no big drama. If it takes a little longer it will take a little bit longer, but this will beneft Canadians, Americans, business, tourists, residents for decades and decades to come,” Carney said on his way into Parliament.
Even with the delay, ofcials remained optimistic that the bridge — a roughly $4.4 billion project — is still expected to open.
“We need to keep this very much in perspective,” said Sandy Baruah, president of the Detroit Regional Chamber and former U.S. assistant secretary of commerce. “Our organization, the state of Michigan and others have been working on this bridge for 20 years. If it opens July 1, Aug. 1 or Sept. 1, I’m not going to get overly agitated about it. This is a long-term play.”
authentic Bahamian culture and experiences. “We have to remove the layers of mediocrity and get back to the source of the richness of our people, and Bay Street is key to that,” she said.
She suggested that renewed airlift and increasing visitor arrivals could help support future redevelopment eforts by bringing
Beyond the Glass Window Bridge project, Mr Sweeting highlighted a series of maritime infrastructure investments throughout the Family Islands.
He said construction continues on the rehabilitation and replacement of critical dock infrastructure in Moore’s Island, Abaco, including the main mailboat dock and fshing facilities in Hard Bargain and The Bight. The more than $8m project is approximately 65 percent complete.
more stopover visitors into the capital. Bay Street remains one of the country’s most important tourism corridors, serving as the gateway for millions of cruise passengers and stopover visitors each year.
While Mrs Hanna-Martin did not provide specifc details on upcoming projects, she indicated that
In Green Turtle Cay, works are underway on the refurbishment of the Government Dock under a $3.39m contract, while construction is progressing on a $6.04m dock redevelopment project in Black Point, Exuma.
Mr Sweeting also pointed to ongoing works in Eleuthera, including projects in Spanish Wells, Harbour Island and Tarpum Bay, where a $1.66m investment is expected to provide improved docking facilities, fsh-cleaning stations, public
The remarks are likely to resonate with many downtown merchants and property owners who have long argued that Nassau’s commercial centre requires sustained investment, stronger cultural oferings and a clearer long-term vision to regain the vibrancy that once made Bay Street the heart of the Bahamian tourism product.
amenities and additional coastal protection. Meanwhile, in North Andros, the Government has completed a $5.8m dock refurbishment programme covering Nicholls Town, Red Bays, Lowe Sound, Conch Sound and Mastic Point.
He also revealed that the administration is advancing plans for seven additional bridge replacement projects throughout the Family Islands as part of a wider efort to improve transportation links and economic connectivity.
Named after the late Canadian Hockey great Gordie Howe, who spent 25 seasons leading the Detroit Red Wings, the bridge is expected to be another vital economic artery between Canada and the United States.
The construction project was negotiated by Rick Snyder, the former Republican governor of Michigan, and paid for by Canada to help ease congestion at the existing Ambassador Bridge and the Detroit-Windsor tunnel. Work has been underway since 2018.
U.S. Sen. Elissa Slotkin, a Michigan Democrat, said she’s taking people at their word that the holdup is “a minor hiccup.”
“This is probably the most bipartisan issue in the state of Michigan, so it’s ridiculous that we can’t just seal the deal,” Slotkin said.
Commerce and border crossings Detroit and Windsor have been neighborly for generations, with residents in both countries frequently crossing the shared river border for entertainment and shopping. Windsor’s population in 2021 was about 230,000.
Like Detroit, the Canadian city’s economy has a strong focus on manufacturing and the auto industry.
Commercial trade between the two cities primarily has been across the nearly century-old and privately-owned Ambassador Bridge, which is closer to downtown Detroit than the Gordie Howe Bridge.
The Ambassador Bridge had been the busiest commercial border crossing between the United States and Canada until last year, when truck trafc along the Blue Water Bridge connecting Port Huron, Michigan, to Sarnia, Ontario, surpassed the Ambassador Bridge’s numbers, according to the Bridge and Tunnel Operators Association.
In 2025, about 2.1 million trucks crossed the Blue Water Bridge compared to just over 1.8 million that used the Ambassador Bridge. About 3.5 million passenger vehicles used the Ambassador Bridge last year, while 1.6 million crossed via the Blue Water Bridge.
Combined, more than 9.2 million vehicles crossed the border on those two bridges in 2025, according to the U.S. Bureau of Transportation Statistics.
More than 3.7 million cars and SUVs also traveled between the United States and Canada last year via the Detroit-Windsor Tunnel. Both bridges and the tunnel are working at full capacity, and the new bridge will help improve the efciency of commercial and personal trafc between the two countries, Baruah said.
“This is what government is supposed to do, make it easier for business to conduct commerce,” he said.
THE GORDIE Howe Bridge is shown under construction between Windsor, Ontario and Detroit, May 22, 2026.
Photo:PAUL SANCYA/AP
US stocks jump to their best day in 2 months on hopes for a deal to get crude owing globally again
By STAN CHOE and ALEX VEIGA AP Business Writers
U.S. stocks rallied to their best day in two months, and oil prices fell Thursday after President Donald Trump called of his threat to bomb Iran in the evening. That raised hopes for a potential deal that could get the global fow of oil going again.
The S&P 500 jumped 1.8%, coming of a back-toback drop that had yanked it back to where it was in early May. The Dow Jones Industrial Average leaped 929 points, or 1.9%, and the Nasdaq composite rallied 2.5%.
Stocks immediately veered higher in midday trading after Trump said on his social media network that “discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved” and that the time and place of a signing will “be announced shortly.”
A deal to end the war with Iran could reopen the Strait of Hormuz and allow oil tankers to carry crude again from the Persian Gulf to customers worldwide.
The price for a barrel of benchmark U.S. crude sank 2.6% to $87.71. Brent crude,
the international standard, fell 2.9% to $90.38, though it’s still above its roughly $70 price from before the war.
Worries had been high because the United States and Iran launched attacks over the past several days threatening a more than monthlong tenuous ceasefre.
High oil prices caused by the Iran war have sent infation painfully upward, and a
Iran’s Kharg Island is key to its oil exports. Targeting it carries major risks
By SAM METZ Associated Press
IRAN’S Kharg Island, home to a terminal through which the country exports most of its oil, has emerged as a focus of the war launched in late February by the United States and Israel. Strikes on oil infrastructure on Kharg — or a ground invasion — would severely curb Iran’s oil exports, a key source of revenue for the Islamic Republic. An assault would also mark a major escalation that could provoke even heavier retaliatory attacks on Gulf Arab infrastructure and further drive up oil prices. The skyrocketing cost of fuel is already threatening the world economy.
U.S. President Donald Trump said strikes in mid-March “obliterated”
Kharg’s military assets but did not target the island’s oil infrastructure. He warned that if Iran continued disrupting trafc through the Strait of Hormuz, he would reconsider the decision to spare energy targets on the island.
Then on Thursday, Trump said in a social media post that the U.S. would “assume total control” of Iran’s oil and gas industries, including the Kharg Island terminal, in the “not too distant future.”
Trump later said he called of new military strikes on Iran, just hours after saying the U.S. would hit Iran “VERY HARD TONIGHT.” He suggested that progress had been made in talks to extend the fragile ceasefre.
The president made the threats as escalating attacks between the countries
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, TAMIEKA VALENCIA WATSON of New Providence, intend to change my name from TAMIEKA VALENCIA WATSON to TAMEIKA VALENCIA THOMPSON WATSON. 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.
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NOTICE is hereby given that ILDET SAINT PIERRE of Allen Road Drive, Firetrail Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
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NOTICE is hereby given that I SUZE NAÎLIE METRETS of East Street, off Wulff Road, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 12th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
report on Thursday showed that prices at the U.S. wholesale level increased by more in May than economists expected. The efect is worldwide, and the European Central Bank on Thursday became the frst major central bank to raise interest rates in response.
Higher rates can keep a lid on infation. But they also slow economies and undercut prices for all kinds of investments, including
pushed the Middle East closer to the resumption of full-scale war. His latest remarks emerged at a time when eforts to negotiate an end to the war appear to be stuck. The island is on the other side of the Persian Gulf from U.S. bases in Kuwait and Saudi Arabia. A U.S. occupation of it would put American troops in a stationary position just 33 kilometers (21 miles) of
stocks and cryptocurrencies. They hit investments seen as the most expensive in particular, and some critics are calling the artifcial-intelligence industry a bubble where investment infated too far.
Big swings for AI stocks have been yanking the U.S. stock market up and down over the last week, as they went from roaring to records to suddenly turning lower. The big concern
Iran’s coast. That’s well within range of Iranian drones and missiles, if the Islamic Republic is willing to infict damage on its own territory.
The small coral island is especially important because Iran’s coastline is mostly too shallow for tanker ships to dock. The U.S. has imposed a naval blockade on Iranian ports, which has impeded Iran’s eforts to export oil, mainly
is whether such stocks shot too high, too fast because of AI mania, and their careening moves have sometimes reversed direction by the hour.
AI stocks had already been rolling back up their roller coaster early Thursday, before Trump made his announcement on Iran.
Marvell Technology climbed 11.1%. It’s coming of a manic stretch where it plunged 16.7%, soared 9.6% and then fell more than 5% for two straight days. Just before that, it had a one-day surge of 32.5% that was its best in history when Nvidia CEO Jensen Huang suggested it could be “the next trillion-dollar company.” It was worth a bit more than $190 billion at the time.
Companies involved in the making of chips, meanwhile, jumped to some of the market’s biggest gains. Lam Research leaped 12.7%, and KLA climbed 12.9%. They helped ofset an 8.5% drop for Oracle. It reported a stronger proft for the latest quarter than analysts expected, but it also said it expects to raise $40 billion in cash this fscal
to China, through the Strait of Hormuz, even as Iranian attacks have closed the vital waterway to most trafc.
year through borrowing and sales of its stock. That comes after it raised $48 billion last fscal year to help pay for AI investments.
Other companies’ stocks have also been punished recently for announcing heavy spending on AI, as the question remains whether such investments will produce the profts and productivity that AI proponents are promising.
All told, the S&P 500 jumped 127.31 points to 7,394.30. The Dow Jones Industrial Average rose 929.97 to 50,848.75, and the Nasdaq composite rallied 640.16 to 25,809.66. In the bond market, Treasury yields eased sharply as falling oil prices meant less upward pressure on infation. The yield on the 10-year Treasury dropped to 4.45% from 4.55% late Wednesday, which is a signifcant move for the bond market.
A sustained drop in oil prices could allow the Federal Reserve to keep its main interest rate on hold this year, instead of hiking it as many traders suspected it may have to because of high infation and a solid U.S. job market.
The destruction or loss of the island would deny the government a major revenue source, but it would also remove even more oil from world markets at a time of soaring prices. The destruction of the terminal would further damage Iran’s already weakened economy and undermine any eforts at postwar reconstruction. Iran has continued to exert control over the strait, through which a ffth of the world’s traded oil passed before the war. Meanwhile, the U.S. has sent thousands of soldiers and Marines to the region. Kharg Island has storage tanks and housing for thousands of workers. Gazelles roam freely near the refneries and depots.
Photo:Richard Drew/AP
A look at the SpaceX IPO by the numbers
Associated Press
ELON Musk is all about big numbers — millions, billions, even trillions – and there are plenty of them associated with SpaceX and Musk’s plans to take the rocket maker public.
The prospectus for the SpaceX stock debut shows spending at a massive scale — greater than the economic output of some countries — and about to grow much larger as Musk races to make good on his promise to hurl people to distant planets. Money to be raised in the initial public ofering — estimated at $75 billion — will help fnance those futuristic, fantastical plans. Assuming the IPO goes of without a hitch, it will rank as the largest ever. It also could make Musk, a major SpaceX owner and already the world’s richest man, the frst trillionaire.
Aside from the eye-popping numbers, the prospectus in part reads like a script for a Hollywood sci-f movie as Musk details how he hopes to use his rockets to save the human race from extinction by making it an interplanetary species. First, Musk will send people to the moon to establish a base. Eventually he hopes to colonize Mars.
A look at the lofty numbers behind Musk’s outsized ambitions.
$1.77 trillion
This would be SpaceX’s market value if the shares it’s selling to the public trade at the ofering price of $135 each. With the amount of interest SpaceX is drawing among investors, the price could easily go higher on Day One. Nvidia, a maker of computer chips, is now the world’s most valuable public company at around $4.9 trillion. A value of $1.77 trillion
2025.
would put SpaceX equal with Broadcom at No. 6 on the most valuable list, based on Wednesday close of trading.
$794.6 billion
Elon Musk’s net worth as of the close of trading on June 11, according to Forbes. Depending on how much the SpaceX IPO boosts the value of Musk’s stake in the company, he could become the frst-ever trillionaire. The combined net worth of billionaires two through fve on the Forbes list - Google co-founders Larry Page and Sergei Brin, Amazon founder Jef Bezos and Oracle Chairman Larry Ellison - is $1.04 trillion.
$75 billion
The proceeds SpaceX will reap from selling 555,555,555 shares at $135 each in the IPO, more than double the previous record IPO haul of $26 billion by the Saudi oil giant Aramco back in 2019.
100,000
That’s the number of next-generation
NTSB says ery 2024 North Dakota derailment proves the need to replace awed tank cars
By JOSH FUNK AP Transportation Writer
A FIERY North Dakota derailment that happened two years ago demonstrated yet again why the National Transportation Safety Board has been urging the rail industry for decades to replace fawed tank cars that tend to rupture in a crash.
The NTSB said in its fnal report Thursday that the workhorse DOT-111 tank cars are long overdue for replacement because of the way the devastating impact of a derailment is magnifed anytime hazardous chemicals leak, especially if they catch fre as they did in this derailment just outside the town of Bordulac, North Dakota.
In addition, the NTSB said railroads need to change the way they assemble their trains to ensure fammable liquids aren’t placed close to chemicals that could be toxic if they are inhaled.
After this CPKC train derailed on July 5, 2024, methanol spilled out of fve breached tank cars and caught fre. Then three tank cars flled with anhydrous ammonia breached in the fre.
The worst rail disasters in recent memory were all made worse by tank cars that leaked hazardous materials that caught fre including the 2023 East Palestine, Ohio, derailment, and the 2013 Lac Megantic derailment that devastated that Canadian town and killed 47. DOT111 tank cars were also involved in a number of disastrous crude oil and ethanol derailments in the early 2000s when railroads routinely hauled entire trains of those fammable commodities.
And some of the upgraded tank cars developed after previous derailments dating back to the 1990s aren’t good enough either because they still have a thin outer
Starlink satellites Musk says SpaceX aims to put into orbit. Starlink currently has about 9,600 satellites in space. By comparison UPS says it has 135,000 delivery vehicles — including motorcycles — in its feet.
82.4%
The voting power Musk will hold at SpaceX by virtue of his owning more than 90% of the company’s Class B shares, which give the holder 10 votes for every share held. He also owns a 12.3% stake in the Class A shares, which carry one vote apiece.
At least 1 million
That’s how many inhabitants Musk needs to have living in a colony on Mars for him to receive a part of his SpaceX compensation package. There are no current capabilities of transporting one person to Mars, let alone 1 million. Global cities with populations of around 1 million include Ottawa, Prague and San Jose, California. $20.7 billion
shell. Tougher newer rail tank cars are less likely to rupture in a derailment because they are made with stronger steel and better protections and safety features.
The NTSB has been recommending eliminating the use of those cars for hazardous materials at least since the 1990s because of their history of problems, and Congress did mandate that they be replaced for hauling fammable liquids by 2029. The DOT-111 tank cars and a related older model are no longer used for ethanol and rarely used for crude oil, according to the latest fgures from the Association of American Railroads trade group.
The industry has been phasing them out since 2013, but several thousand older tank cars are still being used to carry other fammable liquids, including gasoline, solvents and some other chemicals.
The derailment itself was caused by a culvert that collapsed under the train, breaking a rail, but NTSB said the leak-prone tank cars made the resulting crash so much worse. The NTSB said the culvert had been inspected frequently enough, but those exams
Argentina’s in ation slows to 8-month low in a boost for President
By ISABEL DEBRE Associated Press
ARGENTINA’S infation slowed for the second straight month in May, economic data released Thursday showed, providing some welcome news for President Javier Milei after almost a year of stubbornly persistent price increases that threatened to undermine the libertarian leader’s signature achievement. Consumer prices rose 2.1% last month compared with April, the government statistics agency INDEC reported — a rate hailed by Economy Minister Luis Caputo as the lowest monthly level in eight months. But annual infation rose marginally to 33.2% this May because monthly infation in May 2025 hit a seven-year low of 1.5%. Since then, prices have climbed and stayed high, squeezing households and fueling public frustration with Milei’s government as it grapples with a series of corruption scandals and struggles to respond to a slump in economic activity across the labor-intensive sectors of retail and manufacturing. Last month, communications networks saw the biggest price increases with
Milei
3.4% on higher phone and internet bills, followed by education costs. Food prices accelerated by 2.5%.
Milei praised Minister Caputo, nicknamed Toto, on social media, posting the INDEC report with the comment, “Let’s goooooo Toto!”
Milei and Caputo also celebrated the news that S&P Global, one of the major credit ratings agencies, had upgraded Argentina’s sovereign credit rating late Wednesday to a stable Bfrom the CCC category, which is considered most at risk of defaulting, citing the government’s success in meeting debt repayments.
Average US long-term mortgage rate rises to 6.52%, just below its high for the year
By ALEX VEIGA AP Business Writer
How much the company spent in 2025 for all its units, which include rockets, satellites and artifcial intelligence technology. The bulk of the spending, at just under $11.4 billion, came from its connectivity unit that includes its Starlink satellites. By comparison, NASA’s budget for 2026 is $24.4 billion.
$131 million
That’s how much SpaceX spent in 2025 on Cybertrucks from Musk’s other public company, Tesla. The base model of a Cybertruck costs $69,990. At that price $131 million gets the buyer 1,871 vehicles. Musk’s businesses often interact, which has raised speculation that Tesla and SpaceX could eventually merge.
30%
The estimated amount of shares being sold in the IPO to smaller-pocketed investors, also known as retail investors. Typically, only about 5% to 10% of the IPO shares go to such investors.
weren’t thorough enough to identify the risk of a collapse ahead of time.
In the North Dakota crash, it was fortunate that few people lived nearby when 29 of the 151 cars on the train careened of the tracks. Only two homes were voluntarily evacuated for two days while crews put out the fres and dealt with the methanol and anhydrous ammonia that spilled. A dozen of the other cars that derailed were carrying plastic pellets.
No injuries were reported in the derailment itself though a handful of workers involved in the cleanup did seek treatment and report health problems after working around the anhydrous ammonia.
CPKC spokesman Patrick Waldron said the railroad received the report after it was released Thursday afternoon and is carefully reviewing it.
Ofcials at the Pipelines and Hazardous Materials Safety Administration didn’t immediately respond to the NTSB report. The Federal Railroad Administration declined to comment immediately on the recommendations.
THE average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain elevated relative to where they were before the war with Iran started.
The benchmark 30-year fxed rate mortgage rate rose to 6.52% from 6.48% last week, mortgage buyer Freddie Mac said Thursday. Despite the increase, the average rate remains below 6.84%, where it was a year ago.
Borrowing costs on 15-year fxed-rate mortgages, often sought by borrowers refnancing a home loan, also rose this week. That average rate climbed to 5.84% from 5.79% last week. A year ago, it was at 5.97%, Freddie Mac said.
When mortgage rates rise they can add hundreds of dollars a month in costs for borrowers, reducing their purchasing power.
Mortgage rates are infuenced by several factors, from the Federal Reserve’s
a 30-year mortgage had slipped just under 6% for the frst time since late 2022. It’s hasn’t fallen below that threshold since. Two weeks ago, it climbed to 6.53%, its highest level since August 28.
While average long-term mortgage rates remain lower than they were at this time last year, their mostly upward trajectory and uncertainty over how much higher they may go has kept many would-be homebuyers on the sideline.
Sales of previously occupied U.S. homes declined in the frst three months of the year compared to a year earlier, extending a nationwide housing slump that dates back to 2022 when mortgage rates began to climb from pandemic-era lows. Sales were essentially fat in April, but accelerated in May to their fastest pace since December.
Still, sales of existing U.S. homes continue to hovering close to a 4-million annual pace, far short of the historic norm that is closer to 5.2-million.
The latest mortgage applications data suggest home shoppers who can
“However, if in ation continues to outpace wage growth, eroding purchasing power alongside still-elevated mortgage rates, household budgets will come under increasing pressure, posing a meaningful drag on housing demand heading into the summer.”
Jiayi Xu
interest rate policy decisions to bond market investors’ expectations for the economy and infation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
Rates have been mostly trending higher since the confict between the U.S. and Iran began in late February, disrupting the fow of crude oil from the Persian Gulf to customers worldwide. That’s sent oil prices sharply higher, helping drive up infation.
Expectations of higher oil prices as the war drags on have kept long-term bond yields elevated, causing mortgage rates to mostly trend higher.
The yield on the U.S. 10-year Treasury note was at 4.53% in midday trading Thursday on the bond market, up from 4.47% a week ago. It was just 3.97% in late February, before the war broke out. As recently as late February, the average rate on
Although the upgrade leaves Argentina several notches below investment status, the vote of confdence advances Milei’s goal of bringing the crisis-prone economy back to global capital markets six years after Argentina defaulted on its foreign debt for the ninth time.
aford to buy at current rates are not holding out for them to move lower.
After declining in recent weeks, mortgage applications, which include loans to buy a home or refnance an existing mortgage, jumped 10.8% last week from the previous week, according to the Mortgage Bankers Association. Applications for both home purchase and refnancing loans rebounded.
The increase in mortgage applications is an encouraging sign for the housing market heading into the second half of the year after a lackluster spring homebuying season.
“However, if infation continues to outpace wage growth, eroding purchasing power alongside still-elevated mortgage rates, household budgets will come under increasing pressure, posing a meaningful drag on housing demand heading into the summer,” said Jiayi Xu, an economist at Realtor.com.
NEW Tesla Cybertrucks are seen at SpaceX’s Starship facility in Starbase, Texas, Monday, Oct. 13,
Photo:Eric Gay/AP
Photo:Jenny Kane/AP
ARGENTINE President Javier Milei arrives at the Cathedral for a Te Deum to celebrate the anniversary of the May Revolution, which marked the beginning of the country’s independence from Spain, in Buenos Aires, Argentina, May 25, 2026. Photo:Natacha Pisarenko/AP
