business@tribunemedia.net
Wednesday, June 17, 2026
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Now-minister’s warning to US investor over ‘fronting’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A NOW-Cabinet minister last year warned a US investor he was “in direct contravention of Bahamian law” through his involvement with a Briland tourism operator doing business in an industry exclusively reserved for 100 percent local ownership only. Darron Pickstock, then a Glinton, Sweeting & O’Brien attorney and partner, told Pablo Conde and his US lawyer via a May 21, 2025, e-mail that the Government had made it “abundantly clear” that the Conch & Coconut tour operator, destination management and visitor
‘Contravening Bahamian law’ alert sent before joining Cabinet
Ex-Briland partners battle over local law firm’s representation
Claims challenge to DIR’s $1.2m in unpaid taxes was blocked
“concierge” business was in a sector of the Bahamian economy that is off-limits to foreign ownership and investors. “It must be made unequivocally clear,” he wrote. “Pablo’s involvement in this business is in direct contravention of Bahamian law. Conch & Coconut is a
Bahamian company, and the operation of this business, particularly in the tourism sector, is explicitly reserved for Bahamians under our statutory and policy framework. The Government of The Bahamas has made this position abundantly clear, both to us and the relevant regulators.”
Mr Pickstock, who would have been a Senator when he wrote the e-mail, was subsequently elected to the House of Assembly in the Golden Isles by-election later that year. He then won the same seat in the May 12 general election, and has been appointed minister of state for Immigration in
BAHAMIAN motorists face having to pre-pay for their vehicle’s annual inspection, and fines if they fail to renew its licence and registration on time, as part of the Government’s drive to boost road safety and compliance with a “modernised” traffic regime. Little-noticed reforms to the Road Traffic Act, which have been tabled in the House of Assembly alongside the 2026-2027 Budget, introduce several subtle but important changes to the vehicle inspection and licensing regime that will impact thousands of Bahamians as early as July this
Motorists to pre-pay ‘non-refundable’ inspection fee Penalty for not renewing vehicle licence before expiry Title Certificate needed to release imports from Customs year provided Parliament passes them into law. The Road Traffic (Amendment) Bill 2026’s fifth clause is designed to amend section 32 in the existing Act by requiring vehicle owners to pay the annual inspection
Wellness and sports tourism project attracts $40m funding BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE founder of a New Providence-based wellness and sports tourism development yesterday disclosed it has attracted between $30m-$40m in investment and is fully booked for the peak December holiday period as it prepares to welcome international visitors from July 1. Abdoulaye Fadiga said the Champion Spirit
Country Club project, which combines high-end accommodations, sports training facilities and wellness services, is positioning itself at the crossroads of sports, medical and longevity tourism - a sector he believes presents significant opportunities for The Bahamas. "We are approaching $30m in total investment, and we are planning to invest much more as we continue building residences and expanding the development," said Mr
fee to the Road Traffic Department “before the inspection is conducted”. This will mark a major cultural shift, as both Bahamians and residents have grown accustomed to paying this fee after the inspection - and only if their auto is deemed roadworthy enough to pass, However, the proposed Road Traffic Act change stipulates that the inspection fee “shall be payable whether or not a certificate of fitness is issued” - meaning that no refund is available for motorists whose vehicles fail to pass. And, for those owners whose autos are deemed not roadworthy, they will have to pay the inspection fee again whenever these Fadiga. "Today, we are between $30m and $40m invested, and that figure will continue to grow." The development has been operating in a soft-opening phase, serving primarily Bahamian residents, but will officially begin welcoming international guests next month. "Beginning July 1, we will start welcoming guests from the United States, Canada, Europe and other international markets," said Mr Fadiga. "Before that, we were only accepting residents of The Bahamas. Now we are opening our doors to the world, and the response so far has been very positive." While the July launch coincides with the traditionally slower summer tourism season, Mr Fadiga
sparked by the messy break-up between the US investor and Julian ‘Shaq’ Gibson, who ran the Harbour Island end of Conch & Coconut’s operations and has continued with the business following their split. Mr Gibson disclosed the e-mail as part of evidence which, he asserts, shows Glinton, Sweeting & O’Brien was hired to represent himself and Conch & Coconut - but not Mr Conde - in addressing the more than $1.2m in unpaid taxes owed to the Bahamian Public Treasury and Department of Inland Revenue. The “engagement letter” refers to the “temporary closure of the business and issues with the Department of Inland Revenue”. However, Mr Conde, who controlled and oversaw the US side of Conch & Coconut’s operations prior to the break-up, is alleging that it was he who hired Glinton, Sweeting & O’Brien - not Mr Gibson - to handle and resolve the situation with the Bahamian tax authorities.
CONTEST - See Page B2
Jet ski crackdown requires ‘more consistent progress’
Road Traffic fees shake-up to boost safety, compliance BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
the second Davis administration’s Cabinet, which has seen him give up all private sector activity including representing Conch & Coconut and Mr Conde’s former Bahamian partner. While the stipulation on 100 percent Bahamian ownership for businesses such as Conch & Coconut is not enshrined in statute law, but instead articulated in the National Investment Policy, Mr Conde’s involvement would nevertheless still need approval from government regulators such as the Investments Board and National Economic Council (NEC) The e-mail was filed with the south Florida federal court last week as part of the ongoing legal battle
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LEON LUNDY deficiencies are fixed and they present the vehicle for a fresh examination by Road Traffic Department officials. And, apart from paying inspection fees in advance, the Bill also inserts new sections into the Road Traffic Act that will impose a “penalty” on motorists who fail to bring their vehicle forward for inspection, and the annual renewal of its licence and registration, before the latter expires. In other words, if a vehicle’s
DRIVE - See Page B4 said demand for the property's year-end offerings has already exceeded expectations. "July is a good time for us to begin welcoming international guests because it is traditionally a quieter period during the rainy and hurricane seasons," he said. "By October, we expect to be fully operational, and we are already fully booked for the end-of-year period in December." The Champion Spirit Country Club founder argued that The Bahamas possesses several advantages that could help it develop a stronger foothold in wellness and medical tourism, including accessibility, its climate and international appeal.
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A SENIOR hotelier yesterday conceded that “more consistent progress in a timely fashion” is needed to crackdown on rogue jet ski operators while also acknowledging that the body charged with overseeing this effort needs to meet more frequently. Robert Sands, Baha Mar’s senior vice-president, revealed to Tribune Business that the Government’s Jet Ski Task Force met yesterday morning just one day after Herschel Walker, US ambassador to The Bahamas, called for it to be fully “activated” as he and his embassy warned all American tourists against renting jet skis during their vacation due to safety concerns sparked by recent deaths, injuries and sexual assaults. Mr Sands, himself a Task Force member, said that while the group had made an initial “positive impact” towards its goal of a “compliant, safe and secure” Bahamian jet ski industry, the effort had “gone somewhat silent in the last two to three months” and needs to be rebooted. Pointing to prior Tribune Business reports of
ROBERT SANDS fines, arrests and jet ski confiscations, he signalled that policing the industry is challenging and requires “the commitment of manpower” and other resources by the authorities. Mr Sands said The Bahamas’ very geography, featuring multiple beaches and isolated cays, meant that “once you clog up one hole it creates opportunities in other areas” for unscrupulous operators to exploit. Asserting that the Government’s and tourism industry’s objectives were aligned with those of the US embassy when it came to safety and regulation in the jet ski industry, the Baha Mar chief added that the key is for the Task Force to move forward with its mandate and “achieve an acceptable environment”
OVERSIGHT - See Page B4
DEVELOP - See Page B3
Minister warns Nassau outages set to persist BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net THE Cabinet minister responsible for energy yesterday warned that New Providence electricity outages may persist after $130m in vital grid upgrades were delayed by about eight weeks following the earlier fatal shooting of a US contractor. During a tour of the nearly-completed Big Pond substation, Jobeth Coleby-Davis, minister of energy, utilities and
aviation, acknowledged the frustration caused by recent outages but argued they are a consequence of the extensive transmission and distribution improvements. “One of the challenges that we’ve experienced over the past few weeks is the inconvenience of the outages at different times in different areas,” she said. “In my Budget communication, I explained that most of the outages are attributed to the upgrades.” Mrs Coleby-Davis said the project, which has entered its final phase, had originally been
JOBETH COLEBY-DAVIS scheduled for completion by the end of May, adding: “Unfortunately, the incident that occurred with a Pike employee had us delayed by eight weeks. And because of that, we are now having to
complete our upgrades in a time period that also has extreme heat.” Her comments come just over a week after Opposition MP Kwasi Thompson
GENERATE - See Page B4
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PAGE 2, Wednesday, June 17, 2026
THE TRIBUNE
Gov’t targeting graduate tracker to align jobs, skills BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
"As part of our technology push, one of the initiatives we are examining closely is a pilot programme to better track graduate outcomes and workforce readiness," Mr Cooper said during his contribution to the 2026-2027 Budget debate. The proposal comes amid long-standing concerns from the private sector over skills shortages and difficulties filling positions despite persistent unemployment levels. "We must strengthen the bridge between education and employment," said Mr Cooper. "For too long, there has been a gap between what students learn and what the economy needs. Employers say they cannot find workers with the right skills.
Graduates say they cannot find good jobs." According to Mr Cooper, the proposed system would provide policymakers with data that is currently unavailable, allowing the Government to evaluate whether education programmes are producing graduates whose skills align with labour market needs. "For too long, we have educated students without always having a clear enough picture of what happens after they graduate," he said. "How long does it take graduates to find work? Which programmes produce the strongest outcomes? Are employers satisfied? Where are the skills gaps? That is why we are examining our national graduate outcomes
MP urges transparency over electricity outages
Mrs Barnett-Ellis said residents in communities including Tropical Gardens, Gambier, West Winds, West Bay Street, Charlotteville, Love Beach, Old Fort Bay and Lyford Cay have experienced repeated outages for months. "Residents are not experiencing the occasional outage," she said. "They are enduring outages with alarming frequency, almost daily and nightly. This is not normal, this is not minor, and this is not something that can be brushed aside with another excuse." She added: "They are tired of explanations that don't explain. They are tired of promises that do not produce relief. They are tired of being asked to be patient while their appliances suffer, their children study in the heat, their businesses lose time and their homes sit in darkness." While acknowledging the Government's explanation, Mrs Barnett-Ellis argued that residents should have been better informed
THE Government is examining a new graduate tracking programme designed to measure employment outcomes, earnings and workforce participation as it seeks to better align the education system with labour market demand, it was disclosed yesterday. Chester Cooper, deputy prime minister and minister of education and technical and vocational training, said the initiative forms part of a broader effort to strengthen the connection between what students learn and the skills employers need.
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net AN OPPOSITION MP yesterday questioned why western New Providence residents have had to rely on "rumours, speculation and WhatsApp groups" for information about recurring power outages despite government disclosures that the disruptions are linked to Bahamas Grid Company's ongoing infrastructure upgrades. Speaking during her contribution to the 2026-2027 Budget debate, Michela Barnett-Ellis, the Killarney MP, said residents across western New Providence continue to endure frequent power interruptions and deserve greater transparency as work continues on the electricity network.
"You see a constituency that has been left, quite literally, in the dark," said Mrs Barnett-Ellis. The criticism comes after the Ministry of Energy, Utilities and Aviation acknowledged this week that recent outages are connected to ongoing transmission and distribution upgrades being undertaken by Bahamas Grid Company (BGC) and Bahamas Power & Light (BPL). According to the ministry, portions of the network are operating in an unusual configuration while critical infrastructure works are completed, reducing flexibility and increasing the likelihood of outages during periods of high demand. The Government said the foundational grid upgrades are now about 95 percent complete and have entered their final commissioning phase.
Ex-partner alleges ‘Shaq’ aiming to bolster ‘home town advantage’ CONTEST - from page B1 But the latter, in a bid to counter this narrative, alleged in a June 11, 2026, affidavit: “As the engagement letter indicates, Glinton, Sweeting & O’Brien was retained to represent me in connection with the temporary closure of Ltd’s business and issues with the Department of Inland Revenue.” Ltd refers to the Bahamian side of the Conch & Coconut operation, headed by Mr Gibson, while Conch & Coconut LLC was the US arm under Mr Conde’s control. Mr Gibson, while conceding that Mr Conde and the US arm provided funding to pay the Bahamian law firm’s fees, said this was done because both sides would benefit from resolving the dispute with the Bahamian tax authorities. “In 2023, Conch & Coconut LLC was doing business with Ltd and would benefit from resolution of the tax issues that were the subject of Glinton, Sweeting &
O’Brien’s representation of me,” Mr Gibson asserted. “LLC, therefore, wired funds to Glinton, Sweeting & O’Brien. Glinton, Sweeting & O’Brien, however, was my law firm and not LLC’s. That is why the engagement letter does not mention Glinton, Sweeting & O’Brien. “I understand that, in a declaration dated May 28, 2026, LLC’s managing member, Pablo Conde, states that, on May 8, 2023, and May 10, 2023, which was after Glinton, Sweeting & O’Brien began representing me personally, the parties discussed the possibility of Glinton, Sweeting & O’Brien representing LLC and me simultaneously in the tax issues with the Department of Inland Revenue. “Although we discussed that possibility, I never agreed to such a joint representation, and in fact long after these discussions Glinton, Sweeting & O’Brien continued to represent me against LLC… As these messages indicate, Glinton,
Sweeting & O’Brien was my law firm, not LLC’s.” Mr Conde had alleged that a three-way conference call was held on May 8, 2023, which ultimately resulted in an agreement two days’ later “where the LLC and Gibson/Ltd were joint clients of Glinton, Sweeting & O’Brien with respect to the tax matter, and Glinton, Sweeting & O’Brien independently represented Gibson/Ltd with respect to any separation agreement. But for this agreement, I and the LLC would not have continued paying Glinton, Sweeting & O’Brien for their legal services”. The two former business partners are now battling over the production and disclosure of evidence to be presented before the south Florida federal court in just one of their several ongoing legal confrontations. A similar case is also before the Supreme Court in The Bahamas. Mr Gibson is accusing his ex-US partner of failing to “account for hundreds
"What troubled me was that too many of our qualified young people, some even on scholarships paid for by taxpayers, are actively planning to build their lives abroad even as employers here say they cannot find enough workers." Mr Cooper argued that improved workforce data could help policymakers better understand and address those trends. "This system will help to bridge the vexing brain-drain gap," he said.
Mr Cooper also revealed that he has asked the Scholarship Board to consider reintroducing a national service requirement for scholarship recipients. "This is why I am asking the Scholarship Board to consider bringing the system of national service back in the shortest practical timeframe," he said. The deputy prime minister framed the initiative as part of a wider shift in education policy towards workforce readiness and economic competitiveness. "The World Bank reports that 78 percent of unemployed Bahamians already hold at least a secondary credential," Mr Cooper said. "That tells us our challenge is not simply getting students through school. It is making sure that what they learn matches what the economy actually needs. Our challenge as a nation is not producing students who pass examinations. It is producing citizens who can thrive."
throughout the process. "If these outages are the consequence of transmission and distribution works, where is the communication strategy?" she asked. "Why isn't Bahamas Grid communicating with the people? Where are the regular public briefings? Where are the timelines?" The Opposition MP said residents should not have been forced to seek information through unofficial channels. "Why have residents had to rely on rumours,
speculation, social media posts and neighbourhood WhatsApp groups to understand what's going on?" she asked. Referring to the Government's statement that the projects are nearing completion, she added: "The Government now tells us these projects are approximately 95 percent complete and nearing commissioning. I genuinely hope so, because the people of western New Providence have carried a heavy burden. But hope is not a plan." Mrs Barnett-Ellis said she has invited representatives from BPL and Bahamas Grid Company to participate in a TownHhall meeting with residents. "Accountability is not simply explaining a problem after public frustration reaches a boiling point," she said. "Accountability is keeping people informed while the problem is occurring." She also called for discussions on longerterm energy resilience
measures, including decentralised generation and hybrid microgrids. "We must begin serious discussions about decentralised energy generation and hybrid microgrids," said Mrs Barnett-Ellis. "Resilience is no longer a luxury; it is a necessity." Elsewhere in her Budget contribution, the Killarney MP raised concerns about operational challenges at the Department of Inland Revenue, arguing that businesses continue to face difficulties with the agency's online portal and compliance requirements. "Businesses describe the portal as broken, yet interest continues to accrue when taxpayers cannot access the very system they are required to use to make payments," she said. Mrs Barnett-Ellis also said many business owners remain frustrated by Know Your Customer (KYC) requirements and administrative burdens associated with business licensing and regulatory compliance.
of thousands of dollars” he received during their tie-up, while Mr Conde is claiming that his former Bahamian associate blocked a challenge to the amount of unpaid taxes claimed by the Department of Inland Revenue from Conch & Coconut’s Briland business. “Phylese Hanna is an independent accountant in the Bahamas that the LLC hired to review the Bahamas Department of Internal Revenue’s conclusion as to Gibson’s tax debt on behalf of the LLC and Gibson/the LTD, and provide a recommended course of action for challenging same,” Mr Conde asserted in legal filings with the south Florida federal court on June 5, 2026. “Ms Hanna was hired because of the Department of Internal Revenue’s finding that Gibson ‘blatantly flouted the tax laws’ and that he reported zero in taxable supplies in his returns despite the fact that he had almost $3m in taxable supplies at the time of the assessment…. “Her work showed that the money already paid to the Department of Internal Revenue already more than covered the correct amount of taxes that Gibson owed to the Department of Internal Revenue, and that the inflated assessment and the $320,000 in penalties levied against Gibson & the Ltd by the Department of Internal Revenue were due to
his own transgressions,” Mr Conde continued. “Despite the LLC paying for her work, and being willing to pay for her to make her proposal to the Department of Internal Revenue, Gibson refused to allow her to present the Department of Internal Revenue with her analysis and proposal. As a result, Ms Hanna’s work for the Ltd and the LLC ended.” Mr Gibson, for his part, blasted Mr Conde’s failure to respond to his discovery requests. “As of today, LLC has not produced a single document to LTD despite seeking millions of dollars in damages through multiple claims against LTD,” he alleged. “In the Bahamas, where LTD is located, ‘fronting’ is an illegal business scheme where a foreign company uses a Bahamian company or individual as its ‘public face’ to circumvent Bahamian ownership laws, which reserve certain businesses for locals. “From 2018 to March 2023, plaintiff LLC (a US company) engaged in fronting by exploiting LTD (a Bahamian company) and its owner, defendant Gibson, to provide the day-to-day ‘concierge services’ that LLC marketed to visitors to The Bahamas. As a result, plaintiff LLC unlawfully collected millions of dollars,” Mr Gibson continued.
“Several of the in-dispute discovery requests concern LLC’s refusal to account for these improperly diverted funds. In fact, even since March 2023, when LLC purported to comply with Bahamian law, it refuses to account for hundreds of thousands of dollars allegedly spent on ‘operational expenses’ that appear to have been distributed to LLC’s owner, his other companies, his family or his friends.” Mr Conde countered that Mr Gibson is merely seeking documents to benefit the Supreme Court lawsuit he has initiated in The Bahamas. “This lawsuit is the long-term result of defendant Gibson’s failure to pay his tax debts.. and failing to account for his business’ cash receipts in The Bahamas, despite numerous reminders and demands from the LLC that Gibson attend to his Bahamian VAT taxes,” he alleged. “Importantly, the LTD has raised no defences or counterclaims in this litigation, instead choosing to file a lawsuit in The Bahamas after this case was filed for hometown advantage. Defendants now seek to conduct discovery in this matter to benefit their claims in the Bahamian action, seeking information that is irrelevant and unlikely to lead to the discovery of relevant evidence to this lawsuit.”
and labour market intelligence capabilities." Under the proposal, graduates would be tracked at various intervals after completing their studies. "The concept is to track graduates at key intervals after completion of their studies to better understand employment outcomes, career progression, earnings and workforce participation," said Mr Cooper. The initiative is also intended to address concerns about the emigration of highly-educated Bahamians, particularly those whose studies have been supported by public funds. "Recently, I met a group of Bahamian students, some on scholarship at Monroe University in New York," said Mr Cooper.
MICHELA BARNETT-ELLIS
CHESTER COOPER
THE TRIBUNE
Wednesday, June 17, 2026, PAGE 3
Minister urges re-focus on retaining tourism spending BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net A CABINET minister yesterday renewed calls for The Bahamas to shift its focus from record-breaking visitor arrivals to retaining more tourism spending within its economy given that as much as 85 cents of every dollar leaves the country almost immediately. Contributing to the 20262027 Budget debate, Glenys Hanna-Martin, minister of tourism, said the industry remains the country's economic lifeblood but warned that a significant portion of its value is captured outside The Bahamas. "And yet, despite all of this, this high dependency and all these numbers, our mainstay carries a contradiction in its internal workings," she said. "We know that perhaps 85 cents of every tourism dollar leaves our economy almost immediately." Mrs Hanna-Martin said the reasons for this leakage are well understood, citing reliance on imported fuel, food, furniture and hotel supplies, as well as foreign
GLENYS HANNA-MARTIN ownership throughout parts of the tourism value chain. "Many of the hotels, cruise lines, airlines and booking platforms are foreign-owned, and profits and management fees are repatriated abroad," she said. "Our marketing, insurance, technology and financing costs are largely paid overseas, and our local supply linkages to agriculture, fisheries, manufacturing and the cultural industries remain limited." While acknowledging tourism's critical importance to the national economy, Mrs Hanna-Martin argued that the traditional approach to measuring success requires rethinking. "The future of tourism development must be
measured not only by the number of visitors we welcome, but by the number of Bahamians empowered to own, create, lead and prosper within the industry," she said. “The vision is to shift from measuring tourism success primarily by arrivals to measuring it by local economic participation, Bahamian ownership and wealth creation." According to Mrs Hanna-Martin, increasing visitor arrivals alone does not automatically translate into broader prosperity. "Many destinations have learned that increasing arrivals does not on its own increase prosperity," she said. "The Bahamas already attracts high-spending visitors, so the work before us is to maximise local capture of that spending." Mrs Hanna Martin argued that policymakers should increasingly focus on the value generated by each visitor and how much of that spending remains within the country. "The question we must keep asking is how much value each visitor generates and how much of every tourism dollar stays in the local economy," she said. Mrs Hanna Martin also
Renewable provider’s bid for gas exemption is rejected by URCA BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net REGULATORS have rejected a renewable energy provider’s argument that it should be exempted from requirements to obtain a licence under the Natural Gas Act because it will only use liquefied natural gas (LNG) to generate power from its own facilities. Renugen Pro, which won the bid to supply Bahamas Power & Light (BPL) with solar and LNG-fuelled energy on Cat Island, San Salvador and Long Island via a power purchase agreement (PPA), argued that it should receive “a full exemption” from the Utilities Regulation and Competition Authority’s (URCA) licensing because it is not involved in the commercial sale of LNG and its activities fall outside the regulatory regime. URCA, though, disagreed and determined that natural gas regulatory oversight is not concerned with solely economic issues but, also, health, safety standards and technical issues. As a result, it ruled that Renugen Pro should be subjected to its modified licence regime that “more appropriately balances” oversight and flexibility. The regulator, in its ‘statement of results’ on the modified non-commercial or self-use natural gas licence, said the renewable energy provider had “advanced a broader position that its planned LNG facilities, forming part of an integrated electricity generation project, should be exempt from the requirement to obtain a licence” and instead be fully exempted
from the Natural Gas Act’s licensing requirements. “Renugen submitted that its LNG infrastructure should not be characterised as a commercial gas sector activity requiring full licensing. It explained that the facilities are ancillary to a captive electricity generation plant operating under a power purchase agreement (PPA) and therefore fall outside the intended regulatory scope of licensing provisions designed for market-facing gas activities,” URCA said of the company’s submissions. “In support of this position, Renugen advanced several principal arguments. First, it emphasised that the LNG facilities are strictly captive and non-market in nature, as they will not supply, transport or trade gas to third parties, nor connect to any public gas network. Secondly, it contended that the imposition of full licensing requirements would be disproportionate, given that such requirements are designed for commercial terminal operators rather than integrated generation facilities. “Thirdly, it highlighted the integrated and ancillary nature of the infrastructure, noting that it has no independent commercial function and operates solely in support of electricity generation. Finally, it submitted that granting an exemption would be consistent with broader policy objectives, including facilitating efficient investment, supporting lower-emission energy generation, and promoting reliable and cost-effective energy supply.” URCA said Renugen Pro’s submission had thus raised “a broader question as to whether certain
self-use activities should be exempt from licensing altogether pursuant to section 18 of the Natural Gas Act”. It added: “URCA acknowledges the force of Renugen’s position that, in circumstances where LNG facilities are deployed solely on a captive, non-commercial, self-use basis, many of the economic and commercial regulatory provisions applicable to market-facing operators may not be appropriate. “In particular, where an entity is not engaged in commercial importation, trading or supply of natural gas, the application of economic regulatory requirements designed for such activities may be disproportionate. “However, URCA considers that the requirement for licensing under the Natural Gas Act extends beyond economic regulation. As the sector regulator, URCA’s statutory remit encompasses not only commercial and economic oversight, but also technical, operational, safety, health and environmental considerations,” the regulator added. “These aspects of regulation are of fundamental importance irrespective of whether an activity is conducted on a commercial or self-use basis. Accordingly, URCA does not consider that a full exemption from licensing would be appropriate in circumstances where regulated infrastructure and activities remain within the scope of the Natural Gas Act.” As a result, URCA ruled that its planned adjustments to the non-commercial or self-use natural gas licence were “a proportionate and appropriate regulatory response”. It added: “The
Founder: Bahamas has ‘lot to offer in wellness and medical tourism’ DEVELOP - from page B1 “The Government has been very supportive as we opened the club, and I think this project also demonstrates that The Bahamas is becoming involved in longevity, wellness and healthy ageing,” said Mr Fadiga. “The country has a lot to offer in wellness and medical tourism.” Champion Spirit is also preparing to launch the Bahamas Longevity Hospital, which is expected to open later this year and will complement the wellness services already available at the club. According to Mr Fadiga, the facility will focus on advanced treatments, while the club’s existing wellness
centre provides preventative and lifestyle-focused services such as hyperbaric therapy and other bio-optimisation programmes. He said the concept is built around providing what he described as a “360degree” approach to health by combining medical care, fitness, nutrition and recovery services in a single location. “Our goal is to create a complete 360-degree understanding of each person,” said Mr Fadiga. “Too often, people go to a hospital, receive treatment and leave, but the underlying causes are never addressed. We want to help solve the reason they ended up there in the first place.” In addition to a variety of sporting options, a club
house, spa, restaurant and children’s club, the development currently offers eight guest rooms, although Mr Fadiga said expansion plans include additional accommodations and residences as demand grows. He added that the property was intentionally designed to preserve the natural environment and retain the character of the former farm on which it was built. “We did not want this to feel like Miami,” he said. “Miami is only 40 minutes away if people want that experience. We wanted something that feels authentically Bahamian, integrated into nature and built in harmony with its surroundings.”
highlighted the growing dominance of cruise tourism within the sector. She added that The Bahamas welcomed nearly 11 million cruise passengers in 2025, with Nassau alone receiving approximately 6.7 million cruise visitors. However, she said spending patterns reveal a significant imbalance. "In other words, 80 percent of visitors come via cruise and contribute approximately 20 percent to tourism spending," said Mrs Hanna-Martin. She contrasted average cruise passenger spending, estimated between $85 and $150 per visit, with average stopover visitor spending of approximately $2,700. "The challenge before us is to ensure that cruise passengers venture into the wider national economy, spending more and spreading benefit more broadly across the Bahamian economy," she said. Summing up the ministry's direction, Mrs Hanna-Martin said: "The industry has become more competitive, and most of the yield is felt outside the country. The last fact is the one this ministry intends to change."
modification provides a structured mechanism through which entities operating on a non-commercial, self-use basis may be subject to a tailored set of regulatory obligations, while remaining within the licensing framework. “This approach ensures that core regulatory oversight, particularly in relation to safety, technical standards and environmental protection, is maintained. At the same time, the restriction operates to limit the scope of permitted activities, including by prohibiting engagement in commercial gas market activities. Consequently, regulatory measures which are specifically designed for commercial operators will not apply where they are not relevant to the nature of the restricted activity. “In this way, the modification directly addresses the principal concern raised by Renugen, namely the imposition of disproportionate regulatory burdens while preserving the integrity of the statutory licensing regime,” URCA continued. “URCA therefore considers that the adoption of the licence modification more appropriately balances the objectives of proportionality and effective regulation than a full exemption. It ensures that entities engaged in self-use activities are not subject to unnecessary economic regulation, while confirming that such entities remain subject to licensing and to the broader regulatory oversight required under the Natural Gas Act.”
DOWNTOWN NASSAU
Gov’t developing grants for downtown Nassau revival BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Government plans to pursue grants, low-interest financing and strategic redevelopment initiatives aimed at accelerating downtown Nassau's revival while increasing opportunities for Bahamian ownership and entrepreneurship. Glenys Hanna-Martin, minister of tourism, outlined a series of proposed initiatives during her contribution to the 2026-2027 Budget debate, arguing that downtown's transformation remains central to the broader tourism product. "The revitalisation of Downtown Nassau has been talked about for a while," said Mrs Hanna-Martin. "The ‘Blueprint for Progress’ sets out a clear path. We will explore the feasibility of attracting investors, local or otherwise, hopefully local, for mixed-use developments that combine retail, residential and hospitality, so that there is life downtown around the clock." Among the proposals is a financing programme intended to encourage investment by Bahamian entrepreneurs and property owners. "We will establish targeted grants and low-interest financing for Bahamian entrepreneurs and property owners to renovate buildings, invest and open businesses downtown," she said. Mrs Hanna-Martin also revealed plans to use the
Tourism Development Corporation as a vehicle for strategic redevelopment initiatives. "We will empower the Tourism Development Corporation to acquire and assemble underutilised land downtown for strategic redevelopment, with Bahamian ownership prioritised," she added. The minister said the Davis administration also intends to continue removing derelict structures and repurposing vacant properties. "We will continue the systematic demolition of derelict structures, converting cleared sites into green spaces, pocket parks and public plazas," said Mrs Hanna-Martin. Additional plans include upgrades to public infrastructure and the creation of dedicated spaces for Bahamian vendors and artisans. "We will introduce a downtown streetscape programme to upgrade lighting, paving, signage and landscaping along Bay Street," she said. The Government also plans to establish "curated vendor markets and pop-up commercial zones" to provide Bahamian makers, food vendors and artisans with a permanent and organised presence in the city centre. Mrs Hanna-Martin said the objective is to create a more vibrant downtown experience for both residents and visitors while ensuring Bahamians play a larger role in the economic opportunities generated by tourism and urban redevelopment.
PUBLIC NOTICE The owner/s of Lot #20 on the Eastern Side of (Rupert Dean Lane) Off Meadow Street, BLOCK NO#184 Please contact MR MICHEAL MOSS at 421-1782
NOTICE OF VACANCY A well-established organization is seeking a qualified candidate for the position of Tour Facilitator / Education Coordinator. The successful candidate will coordinate and deliver engaging tours, educational programmes, workshops, and cultural experiences that promote Bahamian history, culture, and environmental stewardship. Qualifications • • • • •
Associate’s or Bachelor’s degree in Education, History, Cultural Studies, Tourism, Hospitality, or a related field (preferred); Minimum two (2) years’ experience in teaching, guiding, pro gramme facilitation, or cultural interpretation; Strong communication and public speaking skills; Knowledge of Bahamian heritage and culture; Ability to work effectively with children, adults, and diverse groups.
To Apply Submit a cover letter, resumé, copies of relevant qualifications, and two professional references to: info.hrdepartment.careers@gmail.com Application Deadline: June 29, 2026
PAGE 4, Wednesday, June 17, 2026
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Minister: Reforms to crack down on fraud and revenue leakages DRIVE - from page B1 licence and registration expires in January, but it is not presented to the Road Traffic Department until March that year, a fine equal to the annual registration fee will be triggered. The only way for Bahamian motorists who find themselves in this predicament to escape the fine, according to the Bill, is for an “approved mechanic” to verify that their vehicle had broken down during this period or the owners supply evidence of “any other reasonable cause” why it was not drive-able. The Bill, though, does not define who is an “approved mechanic”. And, in a separate amendment, the Bill tabled in Parliament creates a new section 30A in the Road Traffic Act that mandates importers of motor vehicles into The Bahamas must obtain a certificate of title for every auto before they are released by Customs. No vehicle can be registered, licensed or driven on the road unless such title certificate is first acquired, and any violators of this proposed legal requirement face a fine of up to $1,000, imprisonment of up to six months or both. The Bill also seemingly does not distinguish between bulk vehicle importers, such as new and used car dealers, and Bahamian residents and citizens importing just one auto for their personal use. Leon Lundy, minister of transport, in written replies to Tribune
Business inquiries justified the changes as part of efforts to improve safety and compliance with the road traffic regime, plus boost administrative efficiency and “modernise” the vehicle licensing, registration and inspection process. He explained that requiring vehicle inspection fees to be paid in advance, and making them non-refundable, ensures the Government is able to recover the costs associated with providing this service while also incentivising Bahamians to keep their autos sufficiently roadworthy to enable them to pass first time. As for the penalty for not renewing vehicle licences prior to their expiration, Mr Lundy said too many owners continue to drive around in non-compliant cars and delay inspections - something that he argued “increases the risk of unsafe vehicles on our roads”. The fine, he added, will be a “meaningful deterrent” given that it will be the equivalent of the annual licence fee - a levy that ranges from $160 for small cars to $760 for the largest trucks. The South Andros and Mangrove Cay MP said mandating that vehicle importers obtain a certificate of title before Customs clearance is approved will help to create “a more secure and reliable vehicle ownership system within The Bahamas” and “reduce opportunities for fraud”. “The proposed amendments are designed to
modernise the vehicle licensing and registration framework, improve compliance, strengthen road safety oversight and create greater efficiency within the administration of road traffic services,” Mr Lundy told Tribune Business. The Road Traffic Department is forecast to collect $48.39m in vehicle licence fees in the upcoming 2026-2027 Budget year, which is a $2m drop compared to the $50.39m prediction for the present 2025-2026 fiscal period. However, these fees are forecast to rise by $4m in the 2027-2028 Budget cycle to hit $52.39m, and then grow by a further $3m to $55.39m in 2028-2029 marking a $7m jump over a three-year period. Addressing the inspection fee amendment, Mr Lundy said the changes are designed to “ensure the Government recovers the actual cost associated with providing inspection services”. He added: “The inspection process requires the commitment of government resources regardless of whether a vehicle ultimately passes or fails inspection. Inspectors must still conduct the assessment, utilise equipment, process documentation and allocate administrative time to each vehicle presented. “Making the inspection fee payable in advance and non-refundable ensures that the cost of providing the inspection service is recovered and aligns with the principle that the fee
Task Force must ‘improve frequency’ of its meetings OVERSIGHT - from page B1 where visitors are better protected. Voicing optimism that The Bahamas will “do what is required”, and make the necessary improvements in the short to medium-term given that it is in the national interest to do so, Mr Sands told this newspaper: “The industry’s and US embassy’s concerns are aligned. We are all for a highly compliant, safe and secure jet ski industry. “There’s no question some progress has been made, but there’s not been a consistent level of progress in a timely fashion. There’s a tremendous amount of work to be done. The industry is committed to ensuring that it is done, and to work with the majority of stakeholders.” Confirming that the Jet Ski Task Force met yesterday, and will likely release its own response to Mr Walker and the US embassy, Mr Sands added: “It’s reinforcing the sector’s commitment to compliance, safety and also an industry that can be respected. Our focus right now is trying to correct something. “We had made a positive impact but it’s gone somewhat silent in the last two to three months. It’s time to reinvest energy to achieve the results we have set out to achieve. There have been some victories - confiscations, fines and the arrest of undesirable persons in the industry.”
Warren Johnson, director of visitor safety and security at the then-Ministry of Tourism, Investments and Aviation, speaking in October 2025 said there had been 15 arrests, and more than $92,000 in fines levied since July 6 that year, after passage of the Commercial Recreational Watercraft Act and accompanying fixed penalties gave law enforcement authorities the tools they need to seize both jet skis and other vessels from law-breakers. He added that, in the three months since the Act took effect in July 2025, some 28 jet skis and 41 other vessels had been seized for infractions and non-compliance with maritime laws. “Once those amendments were enacted, we were able to arrest 15 persons for offences on the jet skis,” Mr Johnson said then. “Forty-one vessels were apprehended for various offences; they were speeding in the [Nassau] Harbour and doing a lot of other stuff, and we also seized 28 jet skis. We issued 69 citations, and the value of the citations that have already been collected is $66,680. “The value of outstanding citations to be paid to the Treasury is $25,550. The citation total is $92,230 that have been issued since July 6 to-date. As you can see, we have been making progress but there’s still a lot more work to do.” Mr Sands yesterday told Tribune Business that obtaining the required
manpower and other resources to properly oversee the jet ski industry “is certainly an issue”. He added: “Once we clog up one hole, it creates opportunities in other areas. The Bahamas, being an archipelago of islands, there are multiple venues for these things to take place…. “In the last year, with the establishment of the Task Force, it was a very positive first step. We need to ensure the Task Force continues its mandate, continues to meet regularly, continues to achieve results, addresses the primary issues and achieves an environment we would say is acceptable.” Mr Walker, in his statement on Monday, demanded that The Bahamas take more proactive and rigorous enforcement action to crack down on rogue jet ski operators. “The Jet Ski Task Force that was established last year is a meaningful first step, and we are grateful for it — but a Task Force that does not meet cannot protect lives,” he said. “I am calling on the Government of The Bahamas to activate this task force, enforce existing regulations, and take the concrete steps needed to bring real accountability to this industry.” Mr Sands, in reply, said that while the Task Force is still meeting this is not occurring regularly enough. “There’s no question it’s meeting, but the frequency needs to be improved,” he told Tribune Business. “There has to be some
‘Extreme heat’, reduced circuits combine to drive interruptions GENERATE - from page B1 warned Nassau residents to prepare for “a summer filled with power outages”, arguing the Government’s promised improvements to electricity reliability had yet to materialise. Mrs Coleby-Davis yesterday suggested interruptions could continue while crews continue working on the new infrastructure. “As we go through the next couple of weeks, there may be some inconveniences, but we want the public to understand that this is really a part of us getting them to a place where it’s very reliable and we’re able to withstand many of the incidents that
we’ve seen happen in the past,” she added. The minister explained that unusually high temperatures arriving earlier than expected have placed additional strain on the system. “So what we’re seeing is some of our circuits had to be offline for the work, the upgrades to be completed,” she said. “Because of that, we have many of our areas operating where they would normally be with two circuits; they’re operating under one circuit. That can work if it’s in a natural environment. But we have extreme heat, which we would usually see in August, September. We’re seeing some of that on our system May, June.”
Mrs Coleby-Davis said BPL, Bahamas Grid Company and the Government under-estimated the impact of the early summer heat and “didn’t expect it to be as bad”. She stressed that the outages are not being caused by insufficient electricity generation but, rather, by temporary transmission constraints while major infrastructure is tied into the grid. “What that means is the system has too much power coming at one time,” she said. “It’s like you say in your home, ‘the breaker tripped’.” Mrs Coleby-Davis said the Big Pond project is now about 95 percent complete. She added that the substation is intended to improve reliability. “It’s
is for the inspection itself, rather than for a successful outcome…. “Making the inspection fee payable in advance and non-refundable ensures that the cost of providing the inspection service is recovered and aligns with the principle that the fee is for the inspection itself, rather than for a successful outcome.” Mr Lundy added that the proposed legal change, if passed, will “improve operational efficiency by reducing payment processing delays” and “encourage vehicle owners to ensure their vehicles are roadworthy before presenting them for inspection”. The latter aspect, he suggested, will also reduce repeat inspections caused by vehicle defects. Turning to the licence and registration renewal penalties, the minister said: “The Government’s primary objective is to improve compliance with vehicle inspection and licensing requirements. “Currently, some vehicle owners continue operating vehicles after licences have expired or delay inspections for extended periods. This creates challenges for enforcement agencies and increases the risk of unsafe vehicles remaining on public roads. The penalty, equivalent to the annual registration fee, is intended to serve as a meaningful deterrent against non-compliance while encouraging timely renewal.” Mr Lundy argued the tightened enforcement will
“prevent leakage of revenue where customers skip years and then transfer ownership”. This, he added, will lessen “the administrative effort associated with tracking and pursuing overdue renewals” and create “greater fairness for motorists who consistently comply with legal requirements”. “From a revenue standpoint, the measure is expected to reduce leakage associated with late renewals and encourage timely payment of licensing fees,” the minister said. “From an enforcement perspective, it strengthens the regulatory framework by providing a clear consequence for failing to maintain a valid inspection and registration status.” And, with the certificate of title requirement, Mr Lundy said the Government and road traffic authorities are aiming to “establish a clear chain of ownership from the moment a vehicle enters The Bahamas”, improve “the integrity and accuracy of the national vehicle registry” and “reduce opportunities for fraud, ownership disputes and unauthorised transfers”. This, he added, will “strengthen the ability of law enforcement and regulatory agencies to trace vehicle ownership” plus “improve confidence for financial institutions, insurers and consumers by providing a secure ownership record”. And it will also pave the way for further digital vehicle registration and title management initiatives.
“This amendment forms part of a broader effort to establish a more secure and reliable vehicle ownership system within The Bahamas,” Mr Lundy said. “Requiring a certificate of title before a vehicle is released from Customs ensures that ownership information is captured and verified at the earliest point of entry into the country. “Administratively, this approach eliminates the need to retroactively establish ownership records after vehicles have already entered circulation. It ensures that all vehicles entering the jurisdiction are properly documented before they are registered and licensed for use on public roads. “Ultimately, the measure supports the Government’s long-term objective of creating a modern, transparent and efficient vehicle registration system that enhances public confidence, strengthens regulatory oversight and improves service delivery.” The Road Traffic (Amendment) Bill 2026 also introduces a $125 vehicle licensing fee for electric autos. This is lower than all gasoline and diesel-powered rivals, which face having to pay $160 if they weigh up to 3,000 pounds; $215 if they weigh between 3,000 and 5,000 pounds; $610 if they weigh between 5,000 and 15,000 pounds; and $760 if over 15,000 pounds.
additional energy put towards this to go along with the various stakeholder commitments.” Asked whether The Bahamas is up to the task, and can adequately satisfy US concerns over a popular component of the country’s tourism industry, Mr Sands responded: “I am confident we are going to make improvements in this area. I wish I had a crystal ball to say how quickly this will happen, but I am confident improvements will happen in the short to mid-term. “It’s in The Bahamas’ interests to do what is required, and I think the stakeholders will do what is required. We must appreciate that the overwhelming negative impact has been on US citizens that make up the most significant percentage of visitors that come to our country, and one must recognise the embassy - as all embassies do - must protect the interests of their citizens wherever they are in the world. “The bottom line is that all the stakeholders are committed and engaged, and their commitments are aligned with the US ambassador and embassy. I certainly don’t take this as an attack on Bahamian tourism. It’s certainly a recognition of concerns brought to our attention, and we need to be a bit more timely in how we address it.” The Ministry of Transport, in its own statement responding to Mr Walker and the US embassy, said: “The Government of the Bahamas takes the safety of every resident and visitor seriously. We formed a multi-agency task force on
this matter several years ago and this work is continuing. “We have seen the recent comments regarding water sports activity. We have a great partnership with the US, and we look forward to open collaboration on these matters. The Bahamas has already taken steps to strengthen safety in this sector, including enhancing legislation, providing more resources for law enforcement and increased oversight of operators. “Our position remains as always: Safety must come first. We will continue working with all partners, including the US Embassy, in a spirit of co-operation to address any concerns in a way that protects our country, supports our tourism industry and safeguards every guest who visits The Bahamas.” Mr Johnson last year revealed that the Task Force then possessed just 50 percent, or six of the 12, jet skis it requires to police the five New Providence beaches where it has concerns about rogue operators. He added that it was “very concerned” about potential rogue jet ski operators at five beaches – Cabbage Beach on Paradise Island, Junkanoo Beach, Goodman’s Bay Beach, Saunders Beach and Montague Beach. “One of the first things we did was we engaged two police officers seven days a week at the major beaches where we were having problems,” he added. The beaches targeted were Junkanoo Beach, Cabbage Beach and Goodman’s Bay, and Mr Johnson last October voiced optimism this would be extended to Saunders Beach and Montague Beach. Some 40 law
enforcement officers had also been trained to use jet skis. The US embassy, in an alert that went further than previous jet ski-related warnings, on Monday said: “Decades of inadequate enforcement in The Bahamas’ jet ski industry have fuelled a pattern of preventable tragedies — serious injuries requiring medical evacuations and sexual assaults against US citizens. “Since August 2024, six US citizens have been hospitalised with injuries from jet ski accidents - three of whom required emergency medical evacuation to the US. In 2025, two US women reported sexual assaults by jet ski operators. In 2026, two additional sexual assaults have already been reported. “Rogue operators - unlicensed, uninsured and operating unsafe watercraft - continue to solicit tourists on Nassau’s most popular beaches, including Junkanoo Beach, Saunders Beach and Cabbage Beach, as well as near the cruise port and the small islands east of Paradise Island. Oversight by the authorities of these supposed ‘official’ jet ski rental areas is sporadic at best.” Mr Walker, though, added: “Bahamian business owners and resort operators are ready and willing to be partners in making these waters safer - for tourists, for the Bahamian economy and for the country’s reputation as a world class destination. This is a real opportunity to make a lasting, positive change and the embassy stands ready to support that work.”
strengthening our system’s durability and resiliency,” she said. Christina Alston, BPL’s executive chairman, described the Big Pond facility as one of the country’s most significant transmission investments, noting that it “is a very sophisticated, world-class substation”. She said: “What you all are witnessing right now is quite historic.” According to Ms Alston, the new facility will serve as a major transmission hub. “If there is an anomaly, lightning, a weather event, what will happen is the switches at this substation will open up and it will redirect power flow,” she said. Ms Alston said the overall $130m grid investment extends well beyond the substation itself. “It is not just the substation, but it’s also the termination of the lines, the new lines being built,” she said. “There’s a lot of underground work
that’s also being built… It is a complete overhaul of the way we generate and transmit electricity on the island.” Dareo McKenzie, chief executive of Bahamas Grid Company, the entity that owns, operates and maintains New Providence’s energy grid, said the Big Pond facility is one of three transmission substations on New Providence and functions as a central hub for electricity distribution. “This plays a very critical role in terms of our energy distribution at the transmission level in New Providence,” he said. Following this week’s Energy Committee meeting, the Ministry of Energy also sought to reassure consumers that while some interruptions may continue over the coming weeks, the upgrades are designed to strengthen the national grid, improve reliability and create a more resilient electricity network capable of
supporting growing demand for years to come. It added: “Significant progress has also been made at Fire Trail Road, where a new transformer has been installed and crews are completing cable installation and commissioning activities. This work is expected to be completed within the next four days. Once energised, the substation will operate with two transformers, increasing capacity, improving load sharing and enhancing reliability for customers served in the area. “BPL further advised that recent storm activity contributed to outages on several Family Islands. In Cat Island and Andros, generation challenges were experienced. However, corrective actions have already been implemented, including the addition of generation resources and operational adjustments to strengthen system reliability.”
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Wednesday, June 17, 2026, PAGE 5
Iran says the deal to end the war with the US requires Israel to withdraw from Lebanon By JON GAMBRELL, SAM METZ and SAMY MAGDY Associated Press IRAN’S top diplomat said Tuesday that the tentative deal to end the war with the United States would require Israel to withdraw from Lebanon — a condition Israel has already rejected and that could sink the agreement, leading to the resumption of all-out war. The deal, which is between the U.S. and Iran, has not been made public, and officials have sometimes offered contradictory interpretations of what is in it. While Israel is not party to the agreement, it is part of the war after joining the U.S. in launching strikes on Iran on Feb. 28. Israel has also fought the Iran-backed Hezbollah militant group in Lebanon and seized large swaths of that country. Iranian Foreign Minister Abbas Araghchi said Israel’s continued occupation of southern Lebanon would violate the deal. “Without the withdrawal of Israeli forces from the territories they occupied during this war, the war has not fully come to an end,” Araghchi said. A U.S. official, who spoke on condition of anonymity to discuss outlines of the agreement, has said the deal does not call for an Israeli
withdrawal. And Israeli Prime Minister Benjamin Netanyahu said Monday that Israel would remain in Lebanon “as long as necessary.” The negotiations to end the war have been plagued by such disagreements before, leading to a prolonged but uneasy ceasefire that has failed to develop into a permanent end to hostilities and has left the Strait of Hormuz, a crucial waterway for the world’s energy supplies, effectively shut. In other developments, Switzerland’s foreign ministry said the signing ceremony for the deal will take place Friday at the Bürgenstock resort near the
in Lebanon, as Iran long insisted. But Araghchi’s call for an Israeli withdrawal adds a new wrinkle. It puts Israel into a dilemma as it tries to degrade Hezbollah’s military capabilities without undermining an agreement championed by its most important ally, the United States. Israel invaded southern Lebanon after Hezbollah fired missiles across the border during the first week of the war. Since then, it has expanded its military footprint to levels unseen in decades and struck targets deep inside Beirut. Though Hezbollah has been weakened, it retains the ability to strike Israel,
“Without the withdrawal of Israeli forces from the territories they occupied during this war, the war has not fully come to an end.” Abbas Araghchi city of Luzern. Ministry officials said Tuesday that the location was proposed by Pakistani and Qatari mediators, along with the U.S. and Iran. Iran’s call for an Israeli withdrawal from Lebanon complicates any deal Pakistan has said the deal called for an end to military operations, including
leaving open questions about the effectiveness of Israel’s campaign. As of Tuesday evening, Netanyahu had not seen the memorandum of understanding between the U.S. and Iran, said a person familiar with the situation, who spoke on condition of anonymity to discuss closed-door details.
A WOMAN waves an Iranian flag during a pro-government campaign as a portrait of the slain Supreme Leader Ayatollah Ali Khamenei, who was killed in U.S. and Israeli strikes on Feb. 28, is displayed at right, in downtown Tehran, Iran, Monday, June 15, 2026. Photo:Vahid Salemi/AP Another person, who also spoke on condition of anonymity to discuss private conversations between Israel and the U.S., said Israeli officials have not asked U.S. negotiators for the memorandum. Netanyahu’s office did not immediately respond to a request for comment from The Associated Press. The White House declined to comment on whether Netanyahu or Israeli officials have reviewed the agreement. The Israeli ambassador to the U.S., Yechiel Leiter, told NPR that while Israel does not know the details of the deal, the apparent inclusion of Lebanon is “unnecessary and unhelpful.” The extent of Israel’s strikes has at times opened a public fracture between its leaders and U.S. President Donald Trump, who told reporters Tuesday that he was “not happy with the way Israel has handled
Oil drops below $80 per barrel, while tech stocks weigh on a mixed Wall Street By STAN CHOE AP Business Writer OIL prices sank again Tuesday and dropped below $80 per barrel for the first time since early March, while U.S. stocks drifted near their all-time highs in mixed trading. The S&P 500 slipped 0.6% and pulled 1.3% below its record set earlier this month. The market was nearly evenly split between stocks rising and falling, and the Dow Jones Industrial Average added 328 points, or 0.6%, to set a record for the second straight day. But drops for some influential tech stocks pulled the Nasdaq composite down 1.2%. Stocks that had benefited from the boom in artificial-intelligence technology weighed on the market in particular following vicious
swings over the last couple weeks. They’ve been leading the market up and down amid worries that their stock prices shot too high in the mania around AI. That’s taken a toll because chip companies, makers of computer memory and other AI winners have grown so massive that they’ve become some of Wall Street’s most influential stocks. Drops of 2.4% for Nvidia, 4.4% for Broadcom and 6.2% for Micron Technology were the heaviest weights pulling the S&P 500 lower. Dave & Buster’s Entertainment sank 6.2% after reporting a weaker profit for the latest quarter than analysts expected, while Robinhood Markets fell 1.4% after the investing platform said that it’s laying
TRADER Edward Curran works on the floor of the New York Stock Exchange, Tuesday, June 16, 2026. Photo:Richard Drew/AP off about 10% of its fulltime employees. On the winning side of Wall Street was SpaceX, which rose 4.8% for its third straight gain since its debut on the U.S. stock market. It said it’s moving forward with a purchase of Cursor, a popular AI coding assistant, valuing it at $60 billion. Yum Brands climbed 1.9% after it said it’s selling the Pizza Hut chain for $2.7 billion. Most of the restaurants will go to LongRange
Capital, a private equity firm. Those in mainland China will go to Yum China Holdings. All told, the S&P 500 slipped 42.94 points to 7,511.35. The Dow Jones Industrial Average rose 328.64 to 51,999.67, and the Nasdaq composite fell 307.60 to 26,376.34. The strongest action was in the oil market, where optimism continued that a tentative U.S.-Iran deal on their war will reopen the
themselves with Lebanon and with Hezbollah.” “It just goes on forever,” he said of Israel’s strategy. Israeli strikes in Lebanon have killed nearly 4,000 people, including hundreds of civilians, and displaced more than 1 million. “Israel’s fighting Hezbollah too long, and too many people are being killed,” Trump said.
Israel and the Lebanese government have entered into their own U.S.-mediated direct negotiations, of which Hezbollah was not a part. Those talks have yielded several announced ceasefires that were never implemented on the ground. Lebanese officials initially tried to keep Lebanon separate from the U.S.-Iran negotiations, not wanting to be seen as beholden to Iran, but they have since
welcomed the announcement that the deal to end the U.S.-Iran war would include a ceasefire in Lebanon. Araghchi’s latest comments appear to match the understanding of two regional officials with direct knowledge of the interim deal. The officials, speaking to AP on condition of anonymity to discuss the closed-door negotiations, said it would require Israel to leave nearly all the territory it occupies in Lebanon, minus a few hilltop points along the border seized earlier. The officials say Iran insisted the accord include Lebanon in the last days of the negotiations. The U.N. peacekeeping force in Lebanon known as UNIFIL reported that Israel and Hezbollah are still exchanging fire but at a “significantly reduced level,” U.N. spokesperson Stephane Dujarric said Tuesday.
Strait of Hormuz at the end of the week and get the global flow of oil going again. The price for a barrel of Brent crude fell 5.1% to settle at $78.96. Significant hurdles remain in the negotiations, including what to do with Iran’s nuclear program. But the hope on Wall Street is that this agreement will mean a long-term fix to a conflict that has worsened inflation around the world. The price of Brent has come down sharply from its $100-plus level of a few weeks ago, though it could still take months for the energy industry to get back to full speed. In stock markets abroad, indexes rose in Europe following a mixed performance in Asia. Tokyo’s Nikkei 225 briefly topped 70,000 for the first time before ending with a modest gain of 0.1% after the Bank of Japan raised its benchmark interest rate to 1%. That’s its highest level in three decades, and it followed a similar move by the European Central Bank last week. The Federal Reserve began its own meeting on what to do with
interest rates Tuesday, with an announcement on the decision scheduled for Wednesday. It’s the first meeting under the Fed’s new chair, Kevin Warsh, who was nominated by President Donald Trump. Trump has been pushing for lower interest rates, which would give the economy a boost but also threaten to worsen inflation. The widespread expectation, though, is that the Fed will leave its main interest rate alone again. In the bond market, the yield on the 10-year Treasury fell to 4.43% from 4.47% late Monday and from 4.56% earlier this month. High yields in bond markets worldwide caused by expensive oil prices have threatened to slow economies and undercut prices for all kinds of investments, including stocks and cryptocurrencies. High yields have already sent mortgage rates higher, and a report on Tuesday said construction crews broke ground on far fewer new U.S. homes in May than economists expected.
Lebanese government welcomes prospects for a ceasefire
NOTICE
NOTICE
NOTICE
NOTICE is hereby given that I STEVEN ALTIDOR of Fox Hill 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 twenty-eight days from the 17th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that I, WILGENS JEAN-PIERRE of Stapledon Gardens, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that I PASCHHUR DOMINIQUE of Nassau Street, 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 twenty-eight days from the 17th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE
NOTICE
NOTICE is hereby given that I, LOUIS PHANORD ST. JUSTE of Montgomery Avenue, Carmichael 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 17th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that I, SONIA MILLER of Queen’s Highway, North Andros, 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 17th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that I RENIKA JEAN-LOUIS of East Street, 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 twenty-eight days from the 10th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
PAGE 6, Wednesday, June 17, 2026
THE TRIBUNE
Nvidia’s Huang pledges AI will boost manufacturing jobs. A test will come in Texas By JOSH BOAK Associated Press JENSEN Huang’s company Nvidia makes the computer chips that unleashed a revolution in artificial intelligence. Now he’s wagering that an AI buildout can revive U.S. manufacturing, pushing past limits facing science and society. That vision might hinge on a factory groundbreaking an hour north of Dallas. Nvidia on Tuesday formally unveilied plans for a major upgrade to its AI infrastructure as part of its $2 billion partnership with the factory’s owner, Coherent. The factory will produce the material for a laser to transmit data among computer chips, allowing those chips to work as a single system with more power, speed and efficiency, according to executives who discussed the technology before the public announcement. “AI factories are the infrastructure of the new industrial revolution,” Huang said in a statement. The factory represents a fundamental test of whether, as Huang believes, AI will be a source of job creation instead of a technology that supplants workers as it becomes possible to write software, analyze a spreadsheet, run
an assembly line or even drive an automobile without much human effort. Huang has led Nvidia as it became the world’s most valuable company, worth roughly $5 trillion, to a point where it’s looking beyond chips to developing entire AI systems. The companies expected to rely on those systems to further develop AI models could soon join the elite circle of those with a valuation of more than $1 trillion. Just how that wealth spreads and the consequences of the technology have rapidly evolved into fundamental debates about how America itself is structured. AI is powering academic breakthroughs and it creates the promise of rapid economic growth. But even if stocks are buoyed by those possibilities, there are voters who see reasons for concern over its use of electricity, the potential for job losses and the newfound national security risks. A shifting approach on AI President Donald Trump’s administration, which once saw a light regulatory touch as essential for fostering AI’s development, has recently begun to reverse course. It placed export controls on the AI company Anthropic’s latest models, leading the company on Friday to
“We are proud to have you in our country,” Trump told the Taiwanese immigrant last year.
THE Trump administration is helping one of Elon
Musk’s companies fight a civil rights lawsuit that alleges it is illegally running dozens of natural gas turbines to power a $20 billion data center in Mississippi.
The Justice Department, in a motion late Monday, sought to intervene in the case and dismiss the lawsuit, arguing that the plant is needed to power an AI data center that is “critical to the economy” and the U.S. military. The state of Mississippi — not the federal government — is responsible for any permits for the power plant and “decided no permit was required,” the Justice Department said in a statement. “Ultimate responsibility for enforcing federal law belongs to the Executive Branch, not private interest groups,” said Associate Attorney General Stanley Woodward, who is No. 3 at the Justice Department. The motion to intervene in the case is intended to protect national security and promote American energy and innovation, he added. The Trump administration has made AI a top national and economic security priority. It has also upended policies meant to address climate change and has worked to undo environmental regulations on business. Trump also has had close ties to Musk, who led his federal government cost-saving initiative, known as the Department of Government Efficiency, or DOGE, early last year. Crowned the world’s first trillionaire Friday when SpaceX went public, Musk financed Trump’s presidential campaign more than any other donor and is pouring money into midterms. The Justice Department action comes just days after SpaceX, Musk’s rocket company and the parent of defendant xAI, pulled off the biggest initial offering of stock ever, partly due to the Trump administration’s help supplying it with billions of dollars in federal contracts. SpaceX has a total value of more than $2 trillion, making it bigger than Exxon Mobil, Bank of America and Coca-Cola combined. The NAACP lawsuit, filed in April, accuses xAI of running dozens of portable
natural gas turbines without proper controls to limit emissions and without the permitting required by the Clean Air Act., which requires industrial polluters to obtain air permits before construction or operation. The Environmental Protection Agency on Tuesday referred questions on the case to the Justice Department, saying it is not a party in the dispute. The Justice Department action was not about national security, but instead was a “desperate attempt to protect wealthy tech companies from obeying the laws meant to protect people from pollution,” said Laura Thoms, director of enforcement for Earthjustice, an environmental law firm that represents the NAACP and Southern Environmental Law Center. “Trump’s Justice Department wants to shield Elon Musk’s data center company, xAI, from being held accountable for its illegal pollution — and it’s attempting to grab power from impacted communities, the courts and Congress to do so,’’ she said. The data center and its pollution are “turning our communities into sacrifice zones,” Thoms added. Abre’ Conner, the NAACP’s director of environmental and climate justice, said the Clean Air Act was designed to hold polluters accountable for decisions that cause harm to communities. “This should not be up for debate, and the NAACP will continue to stand up for democracy and against federal bullying and authoritarianism,” Conner said. The Justice Department, in a statement Tuesday, said the Pentagon is one of many federal agencies that use AI. “Overly burdensome regulation, including private lawsuits that seek to implement their own environmental enforcement, can threaten technological growth, American energy independence and national security,’’ the statement said.
AI buildout creating jobs
JENSEN HUANG, left, president and CEO of Nvidia, and Jim Anderson, CEO of Coherent, sign a ceremonial construction beam before a groundbreaking ceremony for an expansion of Coherent’s manufacturing facility on Tuesday, June 16, 2026, in Sherman, Texas. Photo:Jeffrey McWhorter/AP shutter all public access to those models over security concerns. Trump, a Republican, signed an order to have new AI models voluntarily vetted by the government. He has also mused about the government owning a stake in the companies that develop AI, so that the public could benefit from the expected windfall even if that would blur the lines between the public and private sectors. Still, Trump depends on the AI boom to fuel economic growth, drive future gains in manufacturing
and construction, and push the stock market to new heights. He has insisted on Huang accompanying him on foreign trips, most recently having Air Force One pick up the leather-jacketed CEO in Alaska while en route for the state visit to China. Trump has called Huang “smart,” a “friend” and “amazing” — and he’s publicly recounted that he once mused about breaking up Nvidia because of its dominance, only to admit that Huang was someone that he needed as an ally.
In boost to Musk, Justice Department seeks to dismiss air pollution lawsuit against xAI data center By MATTHEW DALY and BERNARD CONDON Associated Press
Coherent’s factory in Sherman, Texas — which includes Nvidia as a major customer — relied on bipartisan government support. The Biden administration approved $33 million in backing from the CHIPS and Science Act to help fund its buildout, while the Trump administration provided an additional $17 million grant to help ensure a key part of the AI infrastructure would be made in America. “The reason the award was expanded, and we announced this today, was because we continue to grow capacity,” Coherent CEO Jim Anderson said in an interview. “We saw the opportunity with the tremendous AI demand to grow capacity even more than we had originally planned.” Including construction workers, Coherent estimates that the factory will create 1,000 jobs, with about 550 of them in advanced manufacturing, engineering and technical roles. Anderson said the floorspace of the plant would double and its output would quadruple with the additions being built.
The factory expansion will increase production of Indium Phosphide, which is used to make a laser that has the optical intensity of the surface of the Sun. Each second, the light pulses a few hundred billion times through a fiberglass straw the width of a human hair. That allows Nvidia’s computer chips to share information and work together as one system in what Huang has dubbed “AI factories.” Power consumption would be cut up to 50%, enabling computations to occur faster and at a drastically lower price. The prospect of reducing the cost of tokens — the industry’s term for AI usage — would make it easier for AI to expand its reach and abilities. In a paper published this month, the economists Jessica Wachter and Jonathan Wachter noted that the five largest U.S. technology firms invested $380 billion last year as part of the AI buildout and that sum could roughly double this year. Based on that investment, they estimate the possibility of rapid economic growth as AI accounts for more of U.S. gross domestic product. While AI is roughly 3% of the economy now, that figure could grow to a range of 8% to 39%.
The NAACP and other groups say Musk’s xAI subsidiary failed to get a permit for its power plant — which is located near homes, schools and churches
— creating health risks for families in North Mississippi and nearby Memphis and violating the federal Clean Air Act.
THE XAI data center is seen, May 7, 2025, in Memphis, Tenn. Photo:George Walker IV/AP
JUDGE PARKER
CARPE DIEM
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Wednesday, June 17, 2026, WORDS ISEPAGE 7
THE TRIBUNE
5
Solution in Monday’s puzzle pull-out
4
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SUMTHING MARVIN BLONDIE
Fit the missing numbers into the grid so that all the sums are correct – reading left to right or on single lines top to bottom. There are 11 squares to fill, with one digit in each, and the 11 digits you must use are listed below. But where do they all go? Solution in Monday’s puzzle pull-out
We’ve given you one digit to get you started. Here are the missing digits to fit in:
0, 0, 0, 1, 1, 2, 3, 5, 5, 6, 9
+ − 4
×
= ×
HAGAR THE HORRIBLE
TIGER
Y SAMURAI SUDOKU 1 5 8 3 4 9 7 6 2 7 4 1 5 9 6 3 8 2 3 6 9 7 1 2 5 4 8 8 2 5 3 1 4 6 9 7 7 2 4 6 8 5 3 9 1 9 6 3 7 2 8 5 1 4 2 7 1 4 9 3 6 8 5 5 7 6 1 4 9 2 3 8 4 3 6 5 2 8 9 1 7 3 9 4 8 5 2 7 6 1 9 8 5 1 6 7 2 3 4 2 1 8 6 7 3 9 4 5 5 9 2 8 3 4 1 7 6 2 3 5 4 8 9 2 3 5 1 7 6 8 1 3 2 7 6 4 5 9 7 6 8 1 3 2 4 6 7 8 5 9 6 4 7 9 5 1 8 2 3 4 9 1 6 5 7 9 8 1 4 2 3 9 8 1 5 4 7 3 2 6 6 4 5 3 2 9 7 1 8 2 3 7 1 8 6 9 4 5 1 9 5 8 2 3 7 6 4 8 1 2 5 9 3 4 2 7 8 6 1 4 2 6 5 7 1 3 9 8 6 5 4 2 7 1 5 8 6 3 9 4 8 7 3 6 4 9 5 1 2 9 7 3 8 6 4 1 9 3 7 5 2 9 4 7 3 1 8 6 2 5 4 8 6 9 5 1 2 7 3 2 5 1 7 6 4 9 8 3 3 2 9 6 7 4 5 1 8 6 3 8 9 5 2 1 4 7 7 1 5 8 3 2 6 4 9 7 1 2 4 9 5 8 3 6 6 5 8 2 4 9 1 3 7 3 6 9 2 8 7 4 5 1 9 3 2 7 1 5 4 8 6 5 8 4 1 3 6 2 7 9 1 4 7 3 6 8 9 2 5
SMALL CROSSWORD Across: 1 Therefore, 7 Exotic, 9 Uranium, 10 Roof, 12 Ail, 13 Soothed, 14 Sty, 15 Tern, 17 Ignored, 19 Select, 20 Protector. Down: 1 Tourists, 2 Hero, 3 Era, 4 Existence, 5 Fought, 6 Rigid, 8 Calendar, 11 Forget, 13 Steer, 16 Redo, 18 Rot.
CALVIN & HOBBES
TARGET BEATIFIED abide, aide, bade, baited, bated, bead, BEATIFIED, betide, bide, bidet, bifid, daft, daftie, date, deaf, debate, debit, debt, defat, defeat, deft, diet, edit, fade, fated, feed, feted, fetid, idea, teed, tide, tied
DENNIS THE MENACE
WORDSEARCH E Y A C X W V Z K K X R N S I U X C X K R A L H X R F S A U L R Q E U D B C A E G B G D S M C H A S I I I F A D I O F U O L L I I H N O N O E N S J Y O E L T H F O M X P S M C Z T N B V A X D A M S E C E L Q A A T F T M P A R Q L E R T M E C G E N J S E X M E C I W P D
THE ALPHABE
Black squares: 3, 4, 6, 9 22, 26, 31, 35, 36, 39. Across: Utter, Poverty, P Exam, Leaks, Highjacks, Kings, Dabs, Infamy, Wax Dusty. Down: Lizard, Trade, Aqu Ravisher, Pining, Bylaws, Eureka, Chin, Tuba, Graft
CROSS DOUBT Across: NIGHT Down: WATCH
SUMMIT UP 94 and 89
CRYPTOQUOTE AXYDLBAAXR is L O N G F E L L O W One letter stands for another. In this example, A is used for the three L’s, X for the 2 O’s, etc. Single letters, apostrophes, the length and formation of words are all hints. Each day the code letters are different. Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Sudoku increases from Monday to Sunday
Yesterday’s Sudoku Answer
MICRO CROSSWORD
CHALLENGER
Yesterday’s Answers