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Monday, August 17, 2026

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Casino needed to fund Eleuthera project, says developer Jacobs

BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net JEFF Jacobs ended a community meeting on Thursday announcing “if there is no casino, there’s no Jeff” but pledged $100,000 toward a fire station to Governors Harbour residents regardless of whether the development happens.

The proposed development, which Mr Jacobs said is intended to create new tourism experiences, attract airlift and drive investment in infrastructure, has drawn strong criticism from residents concerned about its potential impact on Eleuthera’s culture, environment and way of life.

At the community meeting, one resident challenged Mr Jacobs to remove the casino from the proposal.

“I appreciate you pulling the idea of the government giving you land,” the attendee said. “I appreciate you pulling that project. Now, I don't see why we need a casino in this project. If you want to develop 300 homes over a course of 20 years, I think that's scalable, and I think that would be a positive in a lot of ways. I don't see where a casino fits into this in any way. You pulled the Navy Beach nonsense. Will you commit tonight to pulling the casino?”

Mr Jacobs rejected that option.

Pledges $100,000 towards Governors Harbour fire station “The casino funds my activities here,” he said. “So, here’s how you can deal with that. If there is no casino, there’s no Jeff.”

His comment left residents seeking clarity.

However, resident Horatio Smith, following the meeting, said: “If no casino, no Jacobs, I would say no casino.”

Tanya Crone added: “Jeff Jacobs sorely misread the sentiment of the community and outpouring of opposition to his proposed casino development,” she said, adding that she believed his proposal to use Crown land for solar farms was essentially a “sweetener” intended to build support for the gaming component.

One attendee challenged Mr Jacobs’ references to tax benefits, noting that local entities do not directly collect taxes in The Bahamas and that staffing shortages on Eleuthera could force the development to import workers.

Mr Jacobs responded by proposing that a portion of gaming taxes generated on the island remain in Eleuthera. He noted that the current gaming tax is 20 percent of winnings from wagers

PROPOSAL - See Page B4

TUC backs BEWU over new BPL overtime policy

BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribuneemedia.net THE BAHAMAS National Alliance Trade Union Congress (BNATUC) has thrown its support behind the Bahamas Electrical Workers Union (BEWU) in its trade dispute with Bahamas Power and Light (BPL), accusing the utility of breaching its industrial agreement by unilaterally introducing an overtime policy.

Belinda Wilson, president of the BNATUC, said the labour body stands in support of BEWU president Kyle Wilson and the union

BELINDA WILSON as it challenges BPL’s handling of overtime.

The dispute was filed with the Department of Labour after BEWU objected to BPL’s implementation of a new overtime policy, which the union has argued

OVERTIME - See Page B4

Green Turtle Cay developer presses ahead despite rejection

BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net THE BUSINESSMAN behind a controversial proposed Green Turtle Cay development is seeking approval in Nassau to move forward with his Gillam Bay project after it was unanimously rejected by both the community and the council.

Green Turtle Cay Chief Councillor Ron Levarity confirmed developer Reginald Curry has sought approval in Nassau following the board’s rejection of the proposed development,

which includes nine villas, a clubhouse with a restaurant and bar, administrative offices and support facilities on approximately three acres of Crown Land.

Asked whether Curry had gone to Nassau to seek approval after the council rejected the proposal, Mr Levarity responded: “Yes, ma’am. That’s what he said.”

The development has triggered mounting concern among residents who say Gillam Bay represents one of Green Turtle Cay’s

BATTLE - See Page B3

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Colina net profit rises to $24.3m for first half of year

BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net A BISX-LISTED insurer and financial services group reported a $24.3m net profit for the first half of 2026, with its insurance service result rising by $2.7m as the company pointed to stronger underlying operating performance.

Colina Holdings Bahamas Limited (CHBL) said net income attributable to ordinary shareholders for the six months ended June 30 increased from $22.7m, or $0.92 per ordinary share, in the same period last year to $24.3m, or $0.98 per share.

Emanuel Alexiou, CHBL chairman, said the group continued to deliver strong financial and operational performance through the first half of the year, pointing to the strength of its core businesses and execution of its strategic priorities.

The company’s insurance service result increased to $13.9m from $11.3m in the first half of 2025.

Mr Alexiou said the improvement reflected “solid underlying operating performance” and the ability of CHBL’s insurance

Insurance service result climbs $2.7m Assets under management drive revenue growth Group cites technology-driven efficiency gains operations to generate earnings from core activities.

Andrew Alexiou, CHBL chief executive, also pointed to the role of technology in improving the group’s insurance operations.

“Our improved insurance service result reflects the work being done across the organisation to serve customers more efficiently and effectively,” he said.

“Investments in technology are helping us strengthen that performance by improving

processes, supporting faster decision-making and giving our teams better tools to meet customer needs.”

CHBL also reported higher revenues from its administrative, investment management and advisory businesses, supported by growth in assets under management and administration.

However, net investment income fell to $17.6m during the period from $26.3m in the first half of 2025.

The company attributed the decline primarily to mark-tomarket fair value adjustments, noting that investment market volatility and fair value accounting adjustments can influence reported investment income from period to period.

“Although mark-to-market fluctuations may cause variability in reported investment income, these movements do not alter our long-term investment strategy,” said Mr Alexiou.

“Our focus remains the quality of portfolio assets, liquidity and long-term value preservation.”

CHBL’s total assets stood at $1.03bn at June 30, up from

EARNINGS - See Page B4

PAGE 2, Monday, August 17, 2026

Developer abandons PPP plans for Governors Harbour Crown Land

BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net DEVELOPER Jeff Jacobs has abandoned plans to pursue a public-private partnership with the government involving Crown Land in Governors Harbour after facing sustained opposition.

Governor’s Harbour residents questioned why a foreign developer should be given access to land that many Bahamians have struggled to obtain. Only one attendee spoke up in support of the proposed use of Crown Land for Mr Jacobs’ project, which ultimately led him to announce to residents that the controversial proposal was “off the table.”

"There’s a sentiment in the room for me not to propose to the government

a public-private partnership… selling lots and using that money for the domestic walkway to the pathway, power grid for housing,” Mr Jacobs said.”

“I’m okay not being your partner,” he added.

He made his position clear adding: “So it’s off the table. We’re not going to propose to the government a public-private partnership that includes Navy Beach.”

The announcement came after residents repeatedly challenged Mr Jacobs over his proposal to incorporate Crown Land into a largescale development around Governors Harbour while Bahamians themselves face difficulties securing Crown Land for homes and businesses.

Mr Jacobs had proposed a public-private partnership involving approximately 100 acres of Crown Land, saying the government and

his company could contribute land to a partnership that would sell residential lots and use proceeds to finance infrastructure. He said approximately 30 percent of the proceeds could go toward infrastructure, with the remainder directed toward infrastructure improvements in Governors Harbour.

One attendee directly challenged Jacobs, asking why he was able to “demand” 100 acres from the Bahamian government when Bahamians themselves have struggled to obtain even one acre.

“Nothing against foreign investors—but why are you able to demand 100 acres to do whatever you want to do? And we as citizens don’t have the right to do that,” they said Another attendee argued that the government should be using the taxes

already paid by Bahamians to address infrastructure deficiencies rather than relying on a foreign casino developer.

“We are asking a foreign casino developer to fix BPL and water and sewer through a public-private partnership instead of demanding that our government use the taxes we already pay for reliable electricity and water,” the attendee said.

The resident also questioned what would happen if the development failed, warning that Bahamians could be left carrying the risk while private investors retained the benefits.

The Crown Land issue ultimately became one of the central points of resistance with Pastor Orlando Thompson stating that Governors Harbour is increasingly surrounded by foreign-owned developments while local residents were being left in a “little cubby hole”.

“If we’re going to come with these major projects like this, there needs to be some concessions so that the local people can participate in the growth of Governors Harbour,” Mr Thompson said.

Another attendee was even more blunt, describing the Crown Land proposal

as “crooked” and a failure of government policy.

“There should be no reason why a foreign company should have to come to the island to provide Bahamian people with access to Crown Land,” the attendee said. “That’s crazy.

That’s insane.”

A resident also took issue with Jacobs describing public beach access as something he was “donating.”

“As a media consultant, that is the last thing you should say to Bahamian people because access to the beach is a right that we have,” she said. “You can’t give rights.”

Mr Jacobs had proposed a public park and beach access as part of the Navy Beach concept, saying he wanted to increase public access and circulation. But following the backlash, he withdrew the Crown Land component.

Following the community meeting, residents continued to raise concerns about the Navy Base site, including its environmental legacy and the presence of asbestos left from the former American military facility.

Resident Juanita Pinder said the site remains a serious concern for residents, particularly because of its potential links to health

THE TRIBUNE problems. She said she was concerned about cancer among residents north of Governors Harbour and argued that any redevelopment of the site would need to address its environmental issues.

“We don’t mind a development being there, but we don’t want it to be where it’s just given away to a foreign developer to have as a part of his $40 million worth of whatever property he’s already gotten,” she said.

Resident Hartie Johnson similarly said the Navy Base contains significant amounts of asbestos but questioned whether giving Crown Land to a developer was the appropriate solution.

Following the meeting, residents continued to question whether the proposed development fits Eleuthera’s character and benefits the community.

Horatio Smith described tourism as “the new slavery” and said foreign investment should create opportunities for Bahamians without compromising the country’s sovereignty or community identity. Other residents warned against developments that could redirect spending away from locally owned businesses, alter the island’s character or restrict access to land and roads.

Several attendees also criticised Mr Jacobs’ tone during the meeting, describing it as dismissive and condescending and arguing that his approach further fuelled opposition to the proposal.

Holder named COO as BGC shifts leadership BAHAMAS Grid Company (BGC) has appointed Ryan Holder as its new chief operating officer as the company moves to a “fully independent, all-Bahamian-led management team”.

Mr Holder brings more than 15 years of international energy and sustainability experience, including work in Canada, and has held senior roles with Metrolinx, the Ontario Energy Board and the Bahamas Electricity Corporation.

His appointment follows the end of Island Grid Solutions’ (IGS) management role in April and the appointments of BGC chief executive Dareo McKenzie and chief financial officer Gladys Fernander.

Mr Holder said having Bahamians in leadership positions was important as

the country works to transform its energy sector.

“It is important for younger Bahamians to see people like themselves at the forefront of energy transformation in this country and leading companies like BGC,” he said.

“It is my belief that Bahamians are equally as capable as anyone else to lead this organisation and bring about the necessary transformational changes needed to modernise the energy sector in this country.”

Mr McKenzie said Mr Holder’s experience in utility coordination, regulatory compliance and major infrastructure projects would support BGC’s operations as it continues to modernise the grid.

“Mr. Holder brings over two decades of experience that includes senior roles at Metrolinx, the Ontario Energy Board, and the Bahamas Electricity Corporation,” said Mr McKenzie.

His experience includes capital project management, stakeholder engagement

and risk reduction, as well as engineering planning for major developments including the Baha Mar resort and Nassau International Airport redevelopment.

Mr McKenzie said Mr Holder’s leadership would also be important in strengthening relationships within BGC and with external partners.

“As CEO, I consider myself fortunate to have Mr. Holder as my COO and I welcome him as an exceptional addition to our all-Bahamian led team here at BGC,” he said.

BGC said it has invested approximately $130m over the past two years in critical infrastructure upgrades aimed at strengthening New Providence’s electricity grid.

The company said it will continue to focus on grid modernisation, reliability and resiliency as it transitions to an independently managed operation.

THE TRIBUNE

Monday, August 17, 2026, PAGE 3

Guidance for constituents at MP Rahming’s first branch meeting MARATHON residents received guidance on mortgage financing, real estate, insurance and construction during a homeownership initiative.

The “Let’s Talk House” initiative formed part of Marathon MP Lisa Rahming’s first constituency branch meeting since the May 2026 General Elections.

The event brought prospective homeowners together with representatives from mortgage financing, real estate, insurance, construction and property development companies to discuss the different stages of purchasing and developing a home.

Presentations covered mortgage qualification, financing options, property selection, residential development and insurance coverage, while residents were able to ask questions directly of industry professionals.

Participating organisations included the Ministry of Urban Renewal and Community Relations, Twenty Twenty Associates, Bahamas Mortgage Corporation, Corcoran Bahamas, Arwak Homes, Colonial Realty, Teachers Credit Union, Keller Williams Bahamas, Colina Insurance and Loans by Phone.

Mrs Rahming said the initiative was intended

to connect residents with practical information and resources that could help them move towards homeownership.

The meeting also gave residents an opportunity to raise concerns about issues affecting the community.

Some residents received BPL and Rubis fuel vouchers, while other prizes, including an air-conditioning unit and microwave, were distributed through raffles.

Marathon residents received guidance on mortgage financing, real estate, insurance and construction during a homeownership initiative.

Council unanimously rejected proposed development BATTLE - from page B1 last undeveloped coastal ecosystems.

The community has also forced a group to fight for the protection of Gillam Bay. “They formed their committee, and they’re trying to do their best to, I guess, dot their I’s and cross their T’s and see how far they can proceed with this. But I haven’t heard anything yet,” Mr Levarity said.

The Save Gillam Bay Collective now has 3,389 verified signatures on its online petition. A representative said the group has also collected close to 200 handwritten signatures from residents on Green Turtle Cay. “We have I think close to 200 handwritten signatures from residents here on the island. I think there were maybe 10 that were

non-Bahamian,” Save Gillam Bay said.

The campaign is calling on the Government to halt construction until all legal and regulatory requirements have been satisfied, release the project’s environmental documentation, and conduct an independent review of how the development was approved.

It is also urging authorities to consider protecting the remaining undeveloped portion of Gillam Bay through the Bahamas National Trust.

The Save Gillam Bay campaign describes the site as home to mangroves, wetlands, bonefish habitats, marine life and migratory birds, while also serving as a natural buffer against storms and erosion.

The group argues that development of the site could permanently alter one of Green Turtle Cay’s few remaining undeveloped beaches and affect the

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island’s environmental character and tourism appeal.

Its petition states that the broader community only became aware of the full scope of the proposed development during a July 16 town meeting.

The group has also raised concerns over the project’s location on shifting sand accretion, arguing that the characteristics of the site warrant additional scrutiny regarding long-term stability, storm resilience and potential impacts on the surrounding coastline.

However, the developer has already obtained a Certificate of Environmental Clearance (CEC), with the Department of Environmental Planning and Protection (DEPP) previously maintaining that the project complied with applicable legal and environmental requirements.

DEPP officials have also said a full Environmental

The “Let’s Talk House” initiative formed part of Marathon MP Lisa Rahming’s first constituency branch meeting since the May 2026 General Elections.

The event brought prospective homeowners together with representatives from mortgage financing, real estate, insurance, construction and property development companies to discuss the different stages of purchasing and developing a home.

Presentations covered mortgage qualification, financing options, property selection, residential development and insurance coverage, while residents

were able to ask questions directly of industry professionals.

Participating organisations included the Ministry of Urban Renewal and Community Relations, Twenty Twenty Associates, Bahamas Mortgage Corporation, Corcoran Bahamas, Arwak Homes, Colonial Realty, Teachers Credit Union, Keller Williams Bahamas, Colina Insurance and Loans by Phone.

Mrs Rahming said the initiative was intended

to connect residents with practical information and resources that could help them move towards homeownership.

The meeting also gave residents an opportunity to raise concerns about issues affecting the community.

Some residents received BPL and Rubis fuel vouchers, while other prizes, including an air-conditioning unit and microwave, were distributed through raffles.

Impact Assessment and public consultation were not required because the proposal did not meet the statutory threshold. Any future marina, dock or marine works would require a separate application and environmental review.

The Save Gillam Bay group is nevertheless demanding that the CEC and supporting environmental documentation be made publicly available.

The group said the CEC was displayed during the July 16 town meeting but argues residents should not have to rely on a brief viewing at a public meeting to understand the environmental approvals granted for a major development in their community.

The campaign is also seeking an independent review of the environmental approval process and consultation with independent scientists and conservation organisations on the potential effects on wetlands, mangroves, groundwater, marine habitats, fisheries, wildlife and coastal resilience.

The dispute comes as residents consider possible legal avenues to challenge the project and central government approval.

In the group’s GoFundMe campaign, it says funds are being raised to support legal representation, independent environmental and scientific reviews, travel and advocacy, and public awareness efforts.

The campaign had raised $12,076 toward its $13,000 goal.

The group said it believes the issue extends beyond opposition to one development, arguing that the decision could establish a precedent for how environmentally sensitive Crown land is handled in the future.

“We recognise the importance of investment and economic opportunity in The Bahamas,” the group states. “But development should never come at the expense of transparency, local consideration, and our environment.”

The petition also calls for enforceable commitments from the developer to minimise environmental

disturbance and preserve public beach access in accordance with Bahamian law.

The local government’s unanimous rejection has now placed the focus on Nassau and whether central government authorities will allow the project to proceed despite the position taken by Green Turtle Cay’s elected local representatives. For opponents, the issue is ultimately about whether Gillam Bay should remain undeveloped.

“Once a coastal ecosystem like Gillam Bay is destroyed, it will be lost forever,” the Save Gillam Bay campaign said in its fundraising appeal.

The group is now urging Bahamians to support its efforts to have the area protected, while Curry’s reported move to Nassau places the next stage of the development dispute firmly at the national level.

Mr Reginald Curry did not respond to Tribune Business’ message and calls up to press time.

The Quieting Petition of Everette Hart 2024/CLE/qui/01084

The Petition of Everette Hart in respect of ALL THAT parcel of land being a portion of Crown Grant C-55 to Dennis Rolle and known as Exuma Point and containing 9.499 acres and being made up of Parcels A, B and C as is shown on the Plan filed with the Petition and situate at Exuma Point which said parcel of land is bounded on the Northeast by the sea and running thereon Four hundred (400) feet more or less on the Southeast jointly by other portion of Grant C-55 and an existing paved road and running thereon Six hundred and Seventy (670) feet more or less on the Southwest by other portion of Grant C-55 and running thereon Three hundred and Twentyone and Sixty-one hundredths (321.61) feet more or less on the Southeast again by other portion of Grant C-55 and running thereon Two hundred and Ninety-six and Seventy-five hundredths (296.75) feet more or less on the Southwest again by the sea and running thereon Sixty-three (63) feet more or less on the West by the sea and running thereon Four hundred and Seventy-five (475) feet more or less and on the NORTHWEST by other portion of Grant C-55 and running thereon Seven hundred (700) feet more or less which said parcel of land is more particularly described on or by the said plan or diagram and is thereon coloured Pink.

The Petitioner, Everette Hart, claims to the legal and beneficial owner in fee simple in possession of ALL THAT parcel of land hereinbefore described and the Petitioner has made application to the Supreme Court of The Bahamas under Section 3 of the Quieting Titles Act, 1959, to have his title to the said land investigated.

Copies of the filed plan may be inspected during normal working hours at:a) The Registry of the Supreme Court, British American Building, Marlborough and George Streets, Nassau, N. P., Bahamas; or b) The Chambers of Martin, Martin and Co, Vet CF Place, 8th. Terrace East, Nassau, N. P. NOTICE IS HEREBY GIVEN that any person having dower or right to dower or any adverse claim or claim not recognised in the Petition shall on or before the 1st. day of September, 2026, file in the Registry of the Supreme Court and serve on the Petitioner or the undersigned a statement of such claim in the prescribed form and which shall be verified by an affidavit to be filed therewith. Failure of any such person to file and serve a statement of such claim on or before the 1st. day of September, A. D. 2026, will operate as a bar to such claim.

Dated the 24th. day of April, A. D. 2026 Martin Martin and Co. Attorneys for the Petitioners Kind regards, C. A. Martin

PAGE 4, Monday, August 17, 2026

THE TRIBUNE

Labour body accuses utility of breach OVERTIME - from page B1

or pressure the workers at BPL, or are you trying to pressure the BEWU at BPL?” She said the wider labour movement would not stand by while what she described as “underhanded tactics” went unchallenged.

“Well, as fellow trade unionists and workers in this country, we refuse to stand by idly and allow these underhanded tactics to go unchallenged,” said Mrs Wilson.

The BNATUC has nine affiliates, including the Bahamas Public Service

Union, Bahamas Union of Teachers, Bahamas Hotel Catering & Allied Workers Union, Bahamas Financial Services Union, Bahamas Taxi Cab Union, Bahamas Livery Drivers Union, Abaco Taxi Drivers & Allied Workers Union, Police Staff Association and Correctional Officers Staff Association.

Mrs Wilson, who was returned unopposed as BNATUC president, called on BPL to stop the disputed policy and return to discussions with BEWU.

“We call upon BPL to cease and desist from breaching the industrial agreement, but instead consult with the president and get to the table with the president and his executive team to devise a plan for overtime together,” she said.

The BNATUC’s intervention adds the wider trade union movement’s backing to BEWU as the dispute over BPL’s overtime policy moves through the labour dispute process.

Core insurance operations Eleuthera residents drive profit growth voice strong opposition

Another resident argued that some tourists come to Eleuthera specifically because of its slower pace.

Diane Phillips challenged Mr Jacobs to consider whether the proposed development was compatible with what makes Eleuthera attractive.

“If you like it so much, why are you trying to change it so much?” she asked.

Despite the opposition, Mr Jacobs maintains that gaming is a critical component of his plan. He described gaming as a tourism-oriented amenity, arguing that visitors spending several days on the island could choose to participate and that gaming taxes could create a new revenue stream.

Mr Jacobs also sought to reassure residents about his financial capacity to undertake the project, saying his company has substantial cash reserves and generates significant operating cash flow.

“This year I think we end the year with about $100m in cash,” Mr Jacobs said.

“We do about $100m in operating cash flow every year, and so we have the engines to do what we’re talking about here in front of you.”

One attendee questioned whether Mr Jacobs fully understood the ecological sensitivity of Eleuthera, pointing to his development background in places including Cleveland, Colorado, Miami and Reno and challenging whether approaches used elsewhere could be appropriately applied to the Bahamian environment.

A panelist explained that developments of this nature are subject to infrastructure bonding requirements covering roads, drainage, water and sewer systems.

The bonds, the panelist said, are monitored by the government to ensure the developer progresses in accordance with approved plans. The panelist also said developers cannot simply sell lots without completing the required infrastructure.

was introduced without consultation.

Mrs Wilson said the terms and conditions of an industrial agreement must be respected by both employers and employees, and argued that BPL cannot introduce a new policy affecting workers without first consulting the union.

“The terms and conditions of an industrial agreement must be adhered to by both parties, the

EARNINGS - from page B1 $997.6m at the end of December 2025.

Invested assets accounted for 72.8 percent of total assets, while total shareholders’ equity stood at $335.9m after $1.2m in dividend distributions to Class A preference shareholders and $4.9m, or $0.20 per share, in dividends paid to Class A ordinary shareholders.

employer and the employees,” she said.

“So, BPL does not have the authority to unilaterally implement a new policy, be it for overtime or any other policy, without consultation with the union.”

The dispute comes as BPL has raised concerns about its overtime costs, with the utility putting the annual bill at around $20m.

BEWU has challenged BPL’s approach to overtime and accused management of using the issue to pressure workers amid the

Mr Alexiou said the group’s capital position continued to provide financial flexibility as it met customer and business obligations, regulatory requirements, dividend distributions and future strategic opportunities.

“Looking ahead, we remain confident in our ability to navigate changing market conditions while continuing to serve the needs of our customers and communities,” he said.

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transition to Bahamas Grid Company.

BPL has also faced criticism from the union over the disclosure of individual employee salary information during the dispute.

Mrs Wilson condemned the disclosure, questioning whether it was intended to pressure BPL workers or BEWU. “It is atrocious that employees’ personal and private salaries and emoluments have been leaked to the public,” she said.

“But is it in an effort to threaten, coerce, intimidate,

PROPOSAL - from page B1 and proposed that half of that amount, effectively 10 percent, remain on Eleuthera.

“I’m saying to the government, I think half of it should stay right here,” he said. “So that’s 10 percent of all gaming, or extra 50 percent of all gaming taxes stays here in Eleuthera and that’s my commitment to you.”

However, the attendee argued that such a proposal would require a major change in national policy and questioned what Mr Jacobs himself was prepared to contribute to the community. Mr Jacobs pointed to a proposed contribution toward building a local fire station.

“Whether I do my project or not, I’m committing tonight to the room that I will come up with $100,000

to get that fire station going,” he said.

The offer was met with further criticism, with the attendee describing the $100,000 contribution as insignificant relative to the scale and potential value of the proposed development.

Sarah Gardner raised concerns about Mr Jacobs’ track record, the proposed $100,000 fire station contribution and whether environmental assessments would adequately account for Eleuthera’s fragile ecosystem.

“I also question whether an offer to donate $100,000 for the fire station or provide beach access reflects genuine community interest [or] really services his own financial and reputational interests,” she said.

Pastor Orlando Thompson warned against the gaming component strongly and urged Mr Jacobs to rethink the proposal.

Forbes editor out; report says he took $6M from founder of firm that does business with magazine

By LAURIE KELLMAN Associated Press THE top editor of Forbes left his job last month after an “undisclosed conflict of interest” and was reportedly dismissed for accepting $6 million from the founder of a firm that does business with the magazine.

The New York Times reported this week that Randall Lane was paid

by RJ Shook, whose company, Shook Research, worked with Forbes since 2016 to publish rankings of wealth advisers. The payment was made after Shook sold a majority stake in the

company to a private equity firm a year ago.

A internal email dated July 23 and reviewed by The Associated Press confirmed that Lane, who had been editor and chief content officer, no longer worked for the company. It provided no other details of his departure. Lane had worked for Forbes for nearly 16 years and as its top editor since 2017.

“When this undisclosed conflict of interest was brought to our attention, we examined the situation closely and took the appropriate action immediately,” a spokesperson for Forbes said in an email Thursday.

She added: “Forbes remains focused on delivering trusted journalism.”

A person who works at Forbes and spoke on condition of anonymity because of the sensitivity of the issue told the AP that the staff discovered the apparent reasons behind the firing by reading the Times story. A subsequent email sent out this week said the company could not comment on the matter further.

Former editor quoted as saying he ‘made a mistake’ The Times quoted a person familiar with Lane’s

thinking as saying he considered the payment a gift in return for advice he had provided Shook over the years. “’I made a mistake, and I take responsibility for it,” Mr. Lane said in a statement to The Times. I should have disclosed the gift and failing to was a serious error in judgment. I deeply regret that, and I lost the job and team I love because of it.”

Lane and a spokesperson for Forbes did not respond to requests for comment.

It’s unclear why Shook paid Lane. But the company and Forbes apparently had a close relationship. On its website, for example, Shook Research lists 12 rankings of wealth advisers and management teams in partnership with Forbes.

Also unclear is why Lane thought disclosing the payment would have solved the ethical issues it may have raised. Traditional newsrooms typically forbid journalists from accepting payments from sources or business partners to avoid conflicts of interest — or even the appearance of conflict.

Forbes’ statement of editorial values and standards says that the company “prohibit(s) all staff members and contributors from accepting compensation,

privileges or favors of any kind from people, companies or groups featured in their coverage.

“Any real or perceived conflicts of interest or relationships at all (financial, professional, legal actions, personal or otherwise) must be avoided and/or discussed with the appropriate managing editor. If approved, it must be explicitly disclosed in the story to readers to maintain their trust,” it reads. “Any attempt to evade or failure to honor these solemn responsibilities is a serious offense and is subject to review and swift disciplinary action.”

Public trust in media is flagging The Times report comes at a low moment for public trust in the media. A majority of Americans — 57% — said they have low confidence in journalists to act in the best interests of the public, according to a Pew Research Center analysis in February.

Forbes was founded in 1917 and developed into an influential biweekly account of corporate America, putting giants like Steve Jobs and Warren Buffett on its cover.

GENERAL MANAGER DESIGNATE A supervised financial institution is seeking to employ a suitably qualified and experienced professional for the position of General Manager – Designate.

The successful candidate will work alongside the current General Manager for a period before formally assuming the position. Please visit PWCCUL.com for the full Job Description, including the responsibilities and qualification requirements. Applications should be submitted to board@pwccul.com no later than 5:00 pm, Friday August 21, 2026.

Only shortlisted applicants will be contacted.

THE TRIBUNE

Monday, August 17, 2026, PAGE 5

A timeline of Luigi Mangione’s criminal cases in the killing of UnitedHealthcare’s CEO NEW YORK Associated Press

AMAZON founder Jeff Bezos speaks at the Vivatech fair in Paris, Wednesday, June 17, 2026.

Photo:Emma Da Silva/AP

Bezos and Saverin join a consortium buying a minority stake in Liverpool LIVERPOOL, England Associated Press A CONSORTIUM containing Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin is buying a minority stake in Premier League club Liverpool, the English soccer giant said on Friday.

Club owner Fenway Sports Group (FSG) said in a statement it entered into a “definitive agreement” for the sale to 1892 Holdings.

The investor group is led by Amit Bhatia, who is married to a daughter of Indian steel magnate Lakshmi Mittal, and has taken a stake of more than 30% in the 20-time English champion, according to Sky News. The deal reportedly values Liverpool at around $6 billion.

Boston-based FSG paid 300 million pounds ($400 million) to take over Liverpool in 2010 and also owns the Boston Red Sox. FSG said in July that it had been approached by the Bhatia-led consortium regarding a “strategic minority investment” in the club.

“As we considered this opportunity, it became clear that Amit and the consortium shared our long-term philosophy and appreciation for what makes Liverpool special,” FSG president Mike Gordon said in the statement.

It marks the first foray into soccer by Bezos, who, according to Forbes, is the fourth richest person in the world with a net worth of around $280 billion. He founded Amazon in 1994 and has been executive chairman since 2021.

Saverin is a Brazilian businessman worth around $36 billion, according to Forbes.

Bhatia, a British-Indian entrepreneur, was the co-owner of second-tier English team Queens Park Rangers for 18 years before stepping down recently.

“We are making this investment because we believe deeply in Liverpool and its leadership, and we look forward to supporting the club’s continued success for years to come,” Bhatia said in the statement.

Under the leadership of FSG and its principal owner John Henry, Liverpool ended a 30-year wait to be English champion in 2020 and added another Premier League title last year. That tied Manchester United on 20 English top-flight league championships.

The club was European champion for a sixth time — a record for an English team — in 2019.

The Premier League is one of the biggest competitions in sports, with its teams now largely owned by oil-rich gulf states or private equity.

Can Liverpool now start spending heavily?

Liverpool now has three of the richest people in the world as minority owners.

That doesn’t mean, however, that the club can simply start spending recklessly in the transfer market on new players.

That’s because the Premier League has financial rules in place to protect the competitive balance of the competition and ensure the financial sustainability of clubs.

In broad terms, a club’s on-pitch spending is related to 85% of its “football-related revenue and net profit/loss from player sales,” the Premier League says.

Instead, the difference will come in how Liverpool — already one of the top teams in world soccer — is marketed more around the world under Bezos and Saverin, especially.

The deal is likely to bring more commercial revenue into the club, thereby improving its profits.

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LUIGI Mangione’s guilty plea Friday to federal stalking charges in the killing of UnitedHealthcare CEO Brian Thompson resolved one of two cases against him in the executive’s death. He is scheduled to go on trial on state murder charges on Sept. 8. His sentencing in the federal case is set for Dec. 18.

Thompson, 50, was shot outside a New York City hotel on Dec. 4, 2024, as he walked to UnitedHealth Group’s annual investor conference. Mangione was arrested five days later at a McDonald’s restaurant in Altoona, Pennsylvania, about 233 miles (375 kilometers) west of New York City.

Here is a timeline of key events: 2024 Nov. 24: A man prosecutors say is Mangione arrives in New York City on a Greyhound bus. He takes a taxi to the area of the New York Hilton Midtown, where Thompson is later shot, then goes to a hostel where he stays until the morning of the shooting.

While checking in, prosecutors say, the man presents a fake New Jersey driver’s license bearing the name Mark Rosario.

Dec. 2: Thompson arrives in New York. He is staying at a hotel across the street from the Hilton.

Dec. 4: Thompson is shot and killed. The shooter, later identified by prosecutors as Mangione, waits in the area for about an hour before ambushing Thompson. He then flees through Central Park to upper Manhattan before taking the subway to Penn Station and boarding an Amtrak train to Philadelphia, police say.

The shooting is captured on surveillance video.

Dec. 5: In the days after the shooting, police release various images of the suspected shooter, including one showing his face as he checked into the hostel.

SUSPECT Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. Photo:Benjamin B. Braun/Pittsburgh Post-Gazette/AP Dec. 6: Police find a backpack in Central Park that they say the shooter discarded as he fled. It contains Monopoly money and a black Tommy Hilfiger jacket.

Dec. 9: Altoona police are dispatched to a McDonald’s for a report of a man matching the description of the suspect in Thompson’s killing. The man provides a fake ID and name, Mark Rosario, before identifying himself as Luigi Mangione. He is arrested.

In his backpack, police find a 3D-printed pistol prosecutors say matches the one used to kill Thompson and a notebook that describes wanting to “wack” a health insurance executive.

Dec. 11: Mangione shouts about an “insult to the intelligence of the American people” and writhes in the grip of sheriff’s deputies as they lead him into an Altoona courthouse.

Dec. 17: Manhattan District Attorney Alvin Bragg announces that Mangione has been indicted on state charges including murder as an act of terrorism, calling the killing “a frightening, well-planned, targeted murder that was intended to cause shock and attention and intimidation.”

Dec. 19: Mangione is extradited from Pennsylvania and flown to New York.

He is led up a Manhattan pier by armed officers in a highly choreographed perp walk in front of

news cameras. The mayor at the time, Eric Adams, and Police Commissioner Jessica Tisch look on. Mangione is taken to federal court, where he is charged with stalking and murder.

Dec. 23: Mangione is arraigned on state murder and terror charges. He pleads not guilty while his lawyer complains that the dueling federal and state prosecutions had turned him into a “human pingpong ball.”

2025 April 1: Then-U.S. Attorney General Pam Bondi says she has directed federal prosecutors to seek the death penalty against Mangione, calling Thompson’s killing “a premeditated, cold-blooded assassination that shocked America” and “an act of political violence.”

April 25: Mangione pleads not guilty to a federal murder charge as prosecutors formally declared their intent to seek the death penalty against him.

Sept. 16: The judge in the state case, Gregory Carro, throws out Mangione’s terrorism charges, rejecting the prosecution’s theory that the killing was “intended to evoke terror.” The ruling eliminated the top two charges in Mangione’s state case, sparing him the possibility of a mandatory life sentence without the

possibility of parole. Carro keeps other charges in place, including second-degree murder.

Dec. 1: A three-week evidentiary hearing kicks off in Mangione’s state case.

Prosecutors call 17 witnesses, many of them police officers and other personnel involved in his arrest, and play body-camera footage of officers arresting Mangione and a 911 call from the McDonald’s manager about a man resembling “the CEO shooter.” They also reveal notes about a “survival kit” and “intel checkin” and possible escape plans that they say Mangione had with him.

2026 Jan. 30: U.S. District Judge Margaret Garnett bars federal prosecutors from seeking the death penalty against Mangione, dismissing a federal murder charge that enabled them to seek capital punishment. Garnett also rules that prosecutors can use evidence collected from Mangione’s backpack during his arrest.

Feb. 6: Mangione speaks out in court against the prospect of back-to-back trials, telling Carro: “It’s the same trial twice. One plus one is two. Double jeopardy by any commonsense definition.”

May 18: Carro rules that prosecutors in the state case can use the gun, notebook and other items that police found in Mangione’s backpack after his arrest. However, the judge bars items that officers took from the bag before Mangione was taken into custody, including a loaded gun magazine, cellphone, passport and wallet.

June 17: Carro discloses that Mangione plans to assert a psychiatric defense at his state murder trial, claiming he was suffering from extreme emotional disturbance when he killed Thompson. The next day, Mangione’s lawyers reverse course and tell Carro he wouldn’t be pursuing a psychiatric defense.

PAGE 6, Monday, August 17, 2026

THE TRIBUNE

Obesity drugs show early promise against the hormonal disorder PMOS, giving a suffering family hope

By LAURA UNGAR AP Medical Writer Charlotte Touzalin was still a young teenager when she began struggling with weight gain, abnormal periods and unwanted facial hair — the same puzzling symptoms that plagued her mom for decades and that no doctor could piece together.

“I’d go home and I’d cry,” said Touzalin, an 18-yearold college student from Colorado. “I didn’t understand why all this weight was coming back or why my friends didn’t have to shave their faces and I had to.”

Touzalin and her mom, Anne Schultz, were finally diagnosed with polyendocrine metabolic ovarian syndrome, a hormonal condition affecting 1 in 8 women worldwide. But unlike her mom, Touzalin is beginning young adulthood with new hope after taking part in a study testing blockbuster GLP-1 drugs as a treatment.

A small but growing body of research shows that these obesity medications may also work for the disorder known as PMOS — not only by promoting weight loss but also by improving insulin resistance, hormone balance and ovulation.

These things are key to the disease, which used to be called polycystic ovary syndrome but was renamed earlier this year to shift the focus away from ovaries and cysts.

“We need to do a better job taking care of it,” said Dr. Melanie Cree, who has led three studies testing GLP-1 drugs for PMOS including the one Touzalin joined. “We are finding them incredibly effective and really exciting for improving symptoms in women with this condition.”

PMOS is a mysterious and maddening disease Touzalin and her mom’s long, frustrating journey with PMOS is common.

Diagnosis often takes years because symptoms overlap with other conditions, vary widely and may be dismissed by doctors.

The disorder tends to run in families, and many but not

all women affected carry excess weight. But there’s no known cause or specific treatment, just symptom management such as taking birth control pills to regulate periods and keeping weight in check with diet and exercise.

Two hormones are key drivers of PMOS: insulin, which acts like a key to let blood sugar into cells, and testosterone, which among other things helps maintain sexual desire, bone density and muscle mass.

Most women with PMOS, regardless of their body size, have insulin resistance, which means this hormone doesn’t work as well as it should, said Cree, PMOS clinic director at Children’s Hospital Colorado. In many women, the high insulin can go directly to the ovaries, spurring them to make more testosterone and leading to problems like skipped periods, severe acne and even beard growth.

Schultz, 43, didn’t even know the condition existed when she first began having irregular periods and bloating around age 18. In addition to struggling with the same symptoms as her daughter, she had problems with her ovaries and numerous miscarriages, which are more common with PMOS. Schultz received various diagnoses before learning she had PMOS around the same time as her daughter, who faced a similar medical runaround.

Schultz recalled talking about Touzalin’s symptoms with a pediatrician who was seeing her for what they thought was primarily an issue with binge eating and ADHD. Schultz told the doctor: “There’s gotta be something else going on here.”

Touzalin said she felt “heard for the first time” when a nurse practitioner began piecing things together a few years ago.

Cree definitively diagnosed her last year.

“It was like a godsend,” said Schultz, tearing up.

“We finally had an answer and some kind of a path for her.”

CHARLOTTE Touzalin stands with her mother, Anne Schultz, Friday, July 10, 2026 in Elizabeth, Colo.

GLP-1 medication used in the polyendocrine metabolic ovarian syndrome trial Friday, July 10, 2026 in Aurora, Colo.

Photos:Brittany Peterson/AP In Cree’s study, Touzalin gave herself shots of semaglutide weekly for 10 months. The abnormal hair growth slowed and her periods normalized. For the first time, she felt full after eating and stopped gaining weight constantly.

“I became a happier version of myself,” she said. “I felt like a normal person.”

While research on GLP1s for PMOS continues, insurers put up barriers Touzalin’s results weren’t unique. Early data from the study, published in June in the journal Fertility and Sterility, said eight of 11 participants completing the trial lost at least 10% of their body weight. The median weight loss among

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them was about 42 pounds; the median drop in testosterone was 52%. Six women had more periods and four of them went to monthly periods.

In all three of Cree’s studies, women on GLP-1s lost more weight than those in control groups, and levels of testosterone, blood sugar and insulin dropped. While the study involving Touzalin

looks at semaglutide shots, the other studies examined semaglutide pills in one and exenatide shots in the other.

Other studies globally have shown similarly positive results. Although the studies are small, some researchers say GLP-1s are already showing promising potential for targeting metabolic issues in PMOS. Others say the evidence remains uncertain, and more studies are underway.

As research continues, more and more doctors are prescribing the drugs “off label” for PMOS and seeing improvements in their patients. But insurance coverage is often a problem because the drugs are not approved to treat the condition.

“I use these medicines a great deal,” said Dr. Rana Malek, an endocrinologist with the University of Maryland Medical System.

Among patients with insulin resistance, she said she usually uses them to help with weight loss.

Doctors stress that results vary. GLP-1s don’t work for everyone and can have side effects, like nausea and constipation. If people stop taking them, weight can return.

Still, they can help a lot of PMOS patients, Malek said, and it’s frustrating that many can’t get them because of insurance issues.

Not only are they unapproved for PMOS, some insurers don’t cover them for weight loss.

Touzalin recently ran into this barrier herself. After finishing her study participation, she no longer gets free GLP-1s and had to go off them in June.

Schultz is determined to get her back on them. She’s fighting with her insurer and has a backup plan to get medications through a drug company program. She’d also like to try GLP-1s for her own PMOS, but said her daughter comes first.

Touzalin hopes for a day when any PMOS patient can get the treatment if she needs it.

“It’s something that could help a lot of other people,” she said.

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THE TRIBUNE

Monday, August 17, 2026, PAGE 7

Iran claims Qatar is holding pilots, Israeli strikes kill 11 in Lebanon, and other Middle East news

By The Associated Press IRAN said Qatar was holding three of its pilots who had been missing since March, which Qatar denied.

The United Arab Emirates accused Iran of again attacking one of its vessels in the Strait of Hormuz. The Iran-backed Houthis again struck a Red Sea port in Yemen.

And in southern Lebanon, 11 people were killed in Israeli airstrikes, some of the deadliest since a shaky truce between Israel and Iran-backed Hezbollah went into effect on June 20.

Here’s a look at the latest developments on Saturday in the Iran war and the wider Middle East. Full coverage can be found here.

Iran says Qatar is holding 3 of its pilots Qatar’s armed forces captured and were holding three pilots who went missing in March when their jets were downed, the Missing Persons Committee of Iran’s Armed Forces General Staff said. Qatar, however, denied it.

Until now, Tehran had said it had no information about their fate. This is the first known case in the war where Iran has said a regional country is holding its fighters. Qatar on March 2 said its air force shot down two Iranian bombers as Tehran lashed out against countries hosting U.S. military bases in the opening days of the war.

Saturday’s statement alleged that Qatar had not allowed the pilots to meet or communicate with families or Iranian officials handling their cases. Iran asked the International Committee of the Red Cross president for help.

The letter said a fourth pilot was killed while on the mission “targeting an enemy military base in Qatar,” state media reported.

A spokesperson with Qatar’s foreign ministry, Majed Al Ansari, later denied the claims and indicated on X that the pilots had been shot down and that Qatar’s search and rescue teams found the remains of one. He said Iran was invited in April to visit and be briefed on those efforts, with no response.

A tanker is attacked in the Strait of Hormuz The tanker owned by Abu Dhabi’s state-owned oil and gas company ADNOC was attacked while transiting the Strait of Hormuz, the Emirati state-run WAM news agency said Saturday.

There were no injuries in the Friday evening attack, the agency reported. It was the third such attack on a vessel operated by ADNOC in the critical waterway in the last week. The United Arab Emirates in a statement called on Iran to stop the unprovoked strikes.

The United Kingdom Maritime Trade Operations center said a bulk carrier was struck in the hull by

Both the military and Netanyahu’s office alleged the commander used the family members as human shields.

It was one of the deadliest days since the Lebanese government and Israel announced a “framework agreement” laying out a plan for Israeli forces to withdraw from southern Lebanon in exchange for Hezbollah’s disarmament.

The militant group refused direct talks and was not part of the agreement.

Houthis in Yemen attack Red Sea port, killing at least 3

A MARYLAND state tax court has struck down the state’s first-in-the-nation tax on digital advertising and ordered state officials to repay the tax money already collected from big tech firms.

The Maryland Tax Court said the tax violates the federal Internet Tax Freedom Act as well as the First Amendment and the commerce and due process clauses of the U.S. Constitution.

The legal fight has been watched by other states that are considering taxes for online ads. Maryland estimated the tax, approved in 2021, could raise about $250 million a year to help pay for a sweeping K-12 education measure.

In Friday’s decision, the tax court ordered the state to repay the tax money already collected by Apple, Google and Peacock TV. The law taxed revenue that large companies make on digital advertisements shown in Maryland.

Companies making more

NOTICE COMO VENTURES LTD. (in Voluntary Liquidation) Notice is hereby given that the above-named Company is in dissolution, commencing on the 29th day of July, 2026. Articles of Dissolution have been duly registered by the Registrar. The liquidator is (Amicorp Bahamas Management Limited, whose address is Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O. Box N-4865, Nassau, Bahamas).

Dated this 13th August, 2026 (Amicorp Bahamas Management Limited) LIQUIDATOR NOTICE LAZARE WORLDWIDE LTD. (in Voluntary Liquidation) Notice is hereby given that the above-named Company is in dissolution, commencing on the 29th day of July, 2026. Articles of Dissolution have been duly registered by the Registrar. The liquidator is (Amicorp Bahamas Management Limited, whose address is Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O. Box N-4865, Nassau, Bahamas).

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methods in response to significant changes in how businesses advertise. But attorneys representing Big Tech companies including Meta and Amazon challenged the law in multiple legal venues, arguing in part that they were unfairly targeted.

Last year, 4th U.S. Circuit Court of Appeals ruled part of the law violated the Constitution because it blocked Big Tech companies from telling customers about the tax. That, Judge Julius Richardson said, violated the right to free speech.

Maryland Senate President Bill Ferguson and

House Speaker Joseline Pena-Melnyk, both Democrats, issued a statement saying they “respectfully disagree” with the tax court ruling and expect the legal process to continue.

They said the tax was enacted to keep the state’s tax system in pace with a changing economy.

“We remain committed to ensuring that Maryland’s tax system is fair, sustainable, and reflects today’s economy,” they said. “We will continue working with the Attorney General and Comptroller as this matter proceeds through the courts.”

The tax court said Congress — not the state legislature — is tasked with regulating interstate commerce, and that the tax law was inappropriately based on global revenue rather than revenue from in-state advertising.

The federal Internet Tax Freedom Act bars the taxation of e-commerce if similar services are not taxed. At least for now, the tax court found, there isn’t much of a difference between digital advertising and print or billboard ads, which means the bar on taxation applies.

A MAN rides on his motorbike past a billboard with a message that reads in Farsi: “ We must rise up” and an image of the late Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed during the U.S. and Israel strikes on Feb. 28, in Tehran, Iran, Saturday, Aug. 15, 2026.

Photo:Vahid Salemi/AP an unknown projectile on Friday. It was not immediately clear if it was the same vessel.

Iran asserted control over the strait after the war started on Feb. 28 with U.S. and Israeli strikes. About one-fifth of the world’s traded oil and natural gas passed through the waterway at the mouth of the Persian Gulf before then.

Talks between the U.S. and Iran have stalled while Iran is in discussions with Oman about how to manage the strait that runs between them and had

Maryland tax court voids digital ad tax, orders refunds to Apple, Google and Peacock TV

By The Associated Press

Israeli airstrikes on southern Lebanon killed at least 11 people Saturday.

Lebanon’s Health Ministry and state news agency said one strike targeted a home on the edge of the village of Ansar and killed seven people, including three children, and wounded two. The second, on the village of Deir al-Zahrani, killed four and wounded 17.

Israel’s military said it killed a Hezbollah battalion commander and several other militants at a headquarters in southern Lebanon in response to the group’s actions against Israeli soldiers operating there. Prime Minister Benjamin Netanyahu’s office in a separate statement said three soldiers were seriously injured. The military blamed an explosive drone.

The military said the commander’s family was with him, and that “it should be emphasized that the family members were not the target of the strike.”

Yemen’s military said the Houthis attacked the Red Sea port of Mokha under the control of the internationally recognized government. Port director Abdul-Malik al-Sharabi told journalists that Friday evening’s attack killed three people including two marines, and that port operations had been suspended.

Military spokesperson Col. Majed al-Nazili said in a statement that the Houthis fired six ballistic missiles.

The Houthis’ attack was the latest on government-held areas and on neighboring Saudi Arabia, part of an escalation threatening to plunge Yemen back into civil war.

Analysts say the escalation reflects how Iran is scaling up pressure on the United States and its regional allies.

than $100 million in global annual gross revenues were taxed at a 2.5% rate. The rate increased for companies with larger revenues, topping out at a 10% rate for companies making $15 billion or more in global gross annual revenues.

Supporters of the law contended that Maryland needed to overhaul its tax

been considered an international waterway.

Israeli strikes kill 11 in southern Lebanon

PAGE 8, Monday, August 17, 2026

THE TRIBUNE

How to help after Colombia’s devastating earthquake

By GABRIELA AOUN ANGUEIRA Associated Press Just weeks after twin earthquakes devastated Venezuela, neighboring Colombia suffered its own deadly temblor Monday, leaving responders, volunteers and loved ones desperately searching for missing people and tending to those displaced or injured.

The 7.4 magnitude earthquake affected a large swath of western Colombia, from urban centers like Cali and Pereira to remote and rugged areas in the department of Chocó. As of Friday morning, authorities had confirmed more than 280 dead, thousands injured and over 12,000 dwellings destroyed. Responders have managed to rescue about 350 people, but hundreds remain missing.

Colombian President Abelardo de la Espriella has promised a robust governmental response. But with so much need spread across a large area, aid groups will also play important roles helping those needing shelter, supplies and economic assistance.

“Institutional capacity does not remove the humanitarian need,” said Catalina Vargas, Colombia

country director for the humanitarian group CARE. “The most severely affected area, Chocó, is also one of the most isolated and underserved parts of the country, so access remains the binding constraint regardless of the strength of national institutions.”

For those who can help, giving cash is often ideal to give groups flexibility and agility, said Abe Diaz, head of disaster relief for Amazon, which is providing requested supplies to partners.

“Unrequested product donations overwhelm communities and force responders to divert resources from life-saving work just to sort and store unwanted supplies,” Diaz said.

Here are some organizations collecting donations for Colombia earthquake recovery, including U.S. groups responding on the ground and some local organizations accepting outside funds.

U.S.-based groups already on the ground All Hands and Hearts has provided search and rescue tools like jackhammers and pickaxes to the Pereira fire department as well as blankets and rehydration

supplies for those affected.

Link to donate.

CARE has a longtime presence in Colombia. Its immediate support will focus on food assistance through cash and vouchers, emergency supply care packages, and protection and emotional support for affected families. Link to donate.

Direct Relief is funding medical responders on the ground and preparing to deliver requested medications and healthcare supplies. Link to donate.

GEM is joining with local partners to provide essential kits with food, water, and hygiene necessities.

Link to donate.

Operation Blessing is focusing its initial response on providing food and water, as well as solar lanterns, to displaced people.

Link to donate.

Save the Children has worked in Colombia for over 40 years and has begun psychosocial support activities and set up multiple child-friendly spaces in affected areas. Link to donate.

World Central Kitchen is providing food and water for displaced people, first responders and volunteers, including in more remote mountain communities.

Link to donate.

Brazil’s Lula triggers reciprocity process against US tariffs in effort to show strength

By MAURICIO SAVARESE Associated Press BRAZILIAN President Luiz Inácio Lula da Silva said Friday his government has triggered an economic reciprocity law mechanism against U.S.-imposed tariffs, saying the move was intended to show his nation must be respected.

In July, U.S. President Donald Trump imposed tariffs on hundreds of Brazilian exports, with duties

reaching up to 37.5% in some products. The Trump administration has accused Brazil of unfair trade practices, but Lula has denied the accusations, insisting they are politically motivated ahead of the October election.

Lula is seeking reelection against Sen. Flávio Bolsonaro, a Trump ally who met with U.S. officials, including Trump, in Washington weeks before the administration proposed higher tariffs on Brazilian goods.

NOTICE

“Yesterday, we invoked the reciprocity law to show that we are not to be taken lightly,” Lula said in an interview with Brazilian podcasters. “We respect ourselves. I am very calm knowing what could happen, and I am prepared to debate the defense of Brazil anywhere in the world.”

Brazil’s Foreign Ministry said in a statement late Thursday it is requesting diplomatic consultations with its U.S. counterparts on

Marc Anthony leads Sunday benefit concert for Colombia and Venezuela Latin music stars Marc Anthony, Luis Fonsi, Chayanne, Feid, Jay Wheeler and many more will perform at an international benefit concert for Venezuela and Colombia on Aug. 16 at 6 p.m. EDT at Miami’s Kaseya Center.

It will be carried live on Univision, ViX, WAPA and TelevisaUnivision radio stations, iHeartLatino and Venevision Play in Venezuela.

Viewers can donate by scanning onscreen QR codes, texting UNIDOS to 707070 or visiting univision. org during the broadcast.

Proceeds will go to All Hands and Hearts, CARE, GEM, TECHO and World Central Kitchen.

Colombia-based groups accepting outside donations Abaco Colombia, an association of 26 food banks across Colombia, is distributing food to affected families across the impacted regions. They accept online donations, though the payment processor requires a passport number.

Cruz Roja Colombiana teams are doing search and the issue, as a sign of Lula’s aim “to privilege dialogue and negotiation in its international relations.”

The beginning of the proceedings does not necessarily mean Brazil will retaliate against U.S. tariffs.

“I don’t want any fight with the United States,” Lula said Friday. “Unfortunately, they are spreading falsehoods.”

Earlier this month, the U.S. State Department revoked the visa of Brazil’s ambassador to Washington in retaliation for Brazil’s denial of visas last month for two American diplomats who sought to visit ahead of the October election.

The U.S. government also has accused Brazil of stalling approval of Trump’s nominee for ambassador

NOTICE is hereby given that I, SHANOYA SHANTAE PRATT of P.O.Box N-8827, #4 Wingate Drive, 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 10th day of August, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE

NOTICE is hereby given that I DORSAINVIL DEVILUS of Hanna 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 August , 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 CHARITE EXALUS of Lincoln Boulevard, 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 17th day of August 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

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rescue, offering medical attention and psychosocial support, and filling other needs. They accept online donations, though the payment processor requires a passport number.

Fundación Solidaridad por Colombia supports youth initiatives, nutrition and health, and community building. It’s helping deliver relief supplies and food to displaced people in Pereira and other locations. They accept PayPal. Fundación Semillas de Oportunidades supports youth through art and sport from its base in Quibdó, Chocó. They are supporting families of young people across Chocó. They accept PayPal. Manos Visibles, a network of organizations dedicated to racial and territorial equity, is collaborating with a local trade

school with a goal to restore at least 100 homes in the city of Buenaventura. They accept online donations, though the payment processor requires a passport number.

Presentes Corporation, a 43-year-old organization in Colombia focused on community resilience, is partnering with the Miamibased nonprofit Give to Colombia to facilitate donations from the U.S. Their Colombia Se Levanta fund accepts online donations.

Refugio Huellas de Amor in Pereira is supporting rescue animals already in their care as well as other impacted animals. Huellitas Callejeras Barranquilla is sending vets and medical supplies to affected areas.

Both accept PayPal.

in Brasilia, while Brazilian officials say the U.S. should have first sought the government’s approval before submitting the nomination to Congress, as diplomatic protocol requires.

Since U.S. Secretary of State Marco Rubio revoked the Brazilian ambassador’s visa in response to Lula’s actions but did not order her expelled, U.S. officials have said the Trump administration does not want the dispute to escalate.

These officials, who have spoken on condition of anonymity to discuss internal administration deliberations, have said on multiple occasions that

Rubio’s limited response was intentionally designed to give Lula time and space to back down.

At the same time, they have said that the U.S. will respond quickly should Lula’s government choose to escalate the matter and that declaring the Brazilian ambassador “persona non grata” and expelling her from the U.S. would be a logical next step.

Lula said once again Trump has treated him well, but warned any foreign governments “who come here to meddle in the election, will lose.”

NOTICE

NOTICE is hereby given that I, OLIVE CATHERINE JONES of #2 Shamrock Close, Portland Bay Subdivision, 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 10th day of August, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that I, MIRLANDA PIERRE NOEL of Soldier 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 10th day of August, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

HEALTH workers treat people affected by the earthquake three days after it hit Cali, Colombia, Thursday, Aug. 13, 2026.

Photo:Ivan Valencia/AP

NOTICE is hereby given that I KAY’JAH SYRANMA EXELANT of 114 Eneas Aile, Stapledon Gardens, 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 10th day of August, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

BRAZILIAN President Luiz Inacio Lula da Silva speaks during a meeting with members of the Homeless Workers Movement marking its 30th anniversary in Taboao da Serra, greater Sao Paulo area, Brazil Saturday, Aug. 8, 2026.

Photo:Andre Penner/AP

NOTICE

NOTICE is hereby given that I, FRANCIKA PASCAL of Ragged Island Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 10th day of August, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

THE TRIBUNE

Monday, August 17, 2026, PAGE 9

A surprise credit after an overseas purchase: The tariff refunds now flowing through shippers

By MAE ANDERSON AP Business Writer IF you bought something from an overseas vendor last year, it might be time to check your bank account.

Shippers including FedEx and UPS that acted as customs brokers for imported packages and received tariff refunds from the U.S. government have started to pass on those refunds to the customers that originally paid the tariffs.

The refunds to consumers are the last step in a monthslong process that kicked off in February when the Supreme Court struck down sweeping tariffs implemented by President Donald Trumpin March 2025 under the 1977 International Emergency Economic Powers Act on goods from almost every country. The court ordered the government to return the tariffs it collected.

So far, about $100 billion in tariffs have been refunded to companies who paid them under a system set up by U.S. Customs and Border Protection.

That doesn’t mean Americans will get anywhere close to what they paid in tariffs, since most were paid indirectly. In 2025, the Trump

tariffs amounted to an average tax increase of $1,000 per U.S. household, according to the Tax Foundation, a Washington, D.C., group that studies taxes.

But some consumers are getting some of what they paid directly back from shippers including UPS, DHL and FedEx. The refunds are being rolled out in phases based on what date they were paid. Shippers have said they’ll return the refunds on a rolling basis as they receive them.

Tariff refunds from shippers will be directly refunded to credit cards or bank accounts Most big overseas retailers paid the tariffs themselves and passed them along to retailers with a line item in their invoice that was part of the total bill, or indirectly by raising prices.

But some smaller sellers left the tariff to be paid when it reached the U.S. In those cases, shippers paid the bill and charged the recipient of the package.

FedEx said it has begun the process of issuing $800 million in tariff refunds it received from the government back to the customers that paid them. Customers don’t need to apply to receive their refund, but

A CIVIL rights agency accused of halting a sexual harassment case filed on behalf of female prison guards is now blaming an administrative judge for doing so in error.

A labor union and two female prison guards sued the Equal Employment Opportunity Commission, which enforces employment anti-discrimination laws, for indefinitely suspending proceedings in their case as part of a wider effort to halt all federal-sector class claims pending before the agency’s administrative judges.

The lawsuit cited an administrative judge’s order dated Dec. 10, 2025, stating that the sexual harassment case had been paused and that the “notification applies

to all class cases in the federal sector.”

But in a court document filed Thursday evening, EEOC Chief Operating Officer Sharon Rose said the judge in the case issued the notification “in error” and that it was an “isolated incident.” Rose also told the court that the EEOC has transferred the case to another administrative judge, who on Monday issued an order scheduling further proceedings.

The court document also included a letter sent by Justice Department attorney James Harlow to the plaintiffs on Monday, offering the same explanation and asking them to drop their motion for a preliminary injunction.

“In short, Defendants agree that processing of federal-sector class complaints

name and number of any other federal-sector class complaints that may have been suspended “so we can investigate.”

Sellers said the fact that the EEOC judges only ordered the scheduling orders this week, after the lawsuit was filed, suggests that the suspension was not an error.

“The timing speaks for itself. We have evidence of a number of cases that were stayed. It is not an isolated incident as the EEOC seems to claim,” Sellers said.

Sellers said the plaintiffs are willing to engage in discussion with the Justice Department to resolve the issue outside the court.

The lawsuit against the EEOC was filed by the American Federation of Government Employees, the largest union representing federal workers, and two women who are correctional officers at Louisiana’s Federal Correctional Complex at Pollock. The women are part of a pending class complaint claiming that management at Pollock failed to stop inmates from subjecting female workers to sexual harassment. Under President Donald Trump, the EEOC has drastically overhauled its civil rights enforcement priorities, including prioritizing cases aimed at stamping out diversity and inclusion policies,

dropping cases on behalf of transgender workers and abandoning longstanding tools for investigating systemic discrimination.

The changes have prompted several lawsuits against EEOC Chair Andrea Lucas, who says she is pursuing an “evenhanded” and “colorblind” vision of workplace civil rights.

Rose, the EEOC chief operating officer, said in her court statement that neither the commission nor Lucas had issued “a written or verbal directive to EEOC administrative judges” to indefinitely suspend class cases.

THE company logo is shown on a FedEx delivery van, Sept. 13, 2023, in downtown Denver.

Photo:David Zalubowski/AP they can enter tracking numbers for purchased items into a portal on the FedEx website to see whether or not they are due a refund.

UPS said in April it had paid $5 billion in tariffs on behalf of clients and would begin the process of applying to the government for refunds. In the first phase, it applied for $500 million in refunds and said customers should get refunds one to three months after it receives reimbursement from the Treasury.

US civil rights agency denies issuing order halting all federal class discrimination complaints

By ALEXANDRA OLSON AP Business Writer

“deliver value back to our customers.”

And Costco CEO Ron Vachris said the company planned to return “in some form” the tariffs that were passed on to consumers.

“How much we return and when depends on a variety of factors, including how much refund money we receive and when it arrives as well as developments in the lawsuit filed against the company regarding the return process,” he said in a quarterly earnings call in May.

DHL similarly said that it has filed claims for almost all eligible shipments where it served as the importer of record and is returning the refunds it has received.

“The volume and pace of refunds continue to depend on CBP’s processing of claims,” DHL said in a statement.

Major retailers say they could give back some refunds but mostly will use them to lower prices Unlike shippers who collected tariffs directly from customers, most big retailers

passed on tariffs in indirect ways, changing their product lineups or partly absorbing higher costs, making a consumer refund unlikely.

Amazon executives said last week the company received $600 million in tariff refunds in the second quarter.

In a call with investors, Amazon CFO Brian Olsavsky said the company isn’t the importer of record on most of the goods it sells and that it has absorbed some tariff costs.

But he said the company has “identified a limited set of circumstances where we can trace that we pass specific import charges on to customers.” In those circumstances, he added, “we will proactively contact affected customers and automatically issue refunds to them.”

Otherwise, he said, Amazon will use tariff refunds to lower prices for customers.

That echoes what other large retailers have said. In May, Corie Barry, outgoing CEO of Best Buy, the nation’s largest consumer electronics chain, said the retailer is an importer of record of only about 2% to 3% of what it sells and that the company would use any refund it gets to

should not be suspended,” Harlow wrote in the letter.

Joseph Sellers, co-chair of Cohen Milstein Sellers & Toll’s civil rights and employment practice and one of the attorneys for the plaintiffs, said Friday that the evidence belies the government’s claim that the suspension was an erroneous isolated incident.

Sellers and other attorneys involved in the lawsuit say they are representing federal workers in at least five other class complaints that have been stalled for months, including cases against the FBI and the Department of Defense.

In two of those cases, administrative judges also issued scheduling orders Monday, according to the letter sent by Harlow, the Justice Department attorney. Harlow asked the attorneys to send him the

Dozens of class-action lawsuits have been filed Some shoppers are suing to get the tariffs they paid in the form of higher prices back from companies. More than 80 class-action lawsuits have been filed by customers across the country against retailers including Costco, Nike, Amazon, Walmart and others.

The lawsuits will face difficulty because plaintiffs will have to prove they paid for price increases that were specifically tied to the tariffs, according to Lori Leskin, partner and co-chair of law firm Arnold & Porter’s Consumer Products Practice Group.

PAGE 10, Monday, August 17, 2026

THE TRIBUNE

2 planes with the same flight number avoid possible disaster thanks to quick-thinking controller

By JOSH FUNK AP Transportation Writer A POTENTIAL disaster was averted Friday when a Phoenix air traffic controller recognized two American Airlines jets mistakenly were flying the same flight number and acted quickly to avoid confusion and keep them a safe distance apart.

Audio of the incident shortly after midnight Friday shows how he found a solution to ensure the planes that were both called American 2482 maintained proper separation as one plane arrived from Chicago shortly after the other had taken off in Phoenix.

“I’ve been working air traffic for 25 years. I’ve

never seen two aircraft pretty much merge with the same call sign. That’s pretty incredible,” the controller said after the departing plane had safely cleared the area.

If both pilots thought the controller was telling them to fly at the same altitude as they headed toward each other, they might have collided, so it was crucial they knew which plane he was directing.

Quick thinking ensured the controller’s instructions were clear The audio posted by ATC.com shows how the controller quickly started referring to “American 2482 on the arrival” and

“American 2482 on the departure” to keep the two planes straight.

The controller kept the arriving plane safely above the departing plane even as their flight paths converged and made sure that the pilots of both airlines saw each other when they were still miles apart. He also directed the departing plane not to climb too high, so a gap would remain between the planes.

The arriving pilot complimented the controller for his “nice work” once the two planes had passed each other safely.

“It could have been disastrous, but I’m glad it worked out,” the controller replied.

Expert says airline must

have missed that the flights would overlap Aviation safety expert Steve Arroyo said it’s likely that someone inside the airline’s dispatch center failed to catch that both planes would be in the air at the same time with identical flight numbers when both the dispatcher and the pilots signed off on the flight plan.

“You can drop the ball and that shouldn’t happen, but it’s nice to see that the system is resilient and we have all the safeguards,” said Arroyo, who has only seen this type of issue a couple times in his four decades with United Airlines.

Arroyo started his career as

a dispatcher before becoming a pilot.

Flight 2482 is a round-trip route that often flies back and forth between Chicago and Phoenix. Typically the same plane goes back and forth, but the flight out of Chicago was delayed by weather, so American found a second plane in Phoenix and that flight left on time. The result was that both planes briefly shared the same airspace before the arriving flight landed.

The government and airline will determine how this occurred The Federal Aviation Administration and American Airlines will investigate how this happened, and

they both emphasized how glad they were that everyone remained safe.

“The diligence and professionalism of air traffic controllers and our pilots ensured required separation was always maintained and the issue was identified and addressed. Both flights continued safely and without incident,” American Airlines said in a statement.

TO ADVERTISE TODAY IN THE TRIBUNE CALL @ 502-2394

Consolidated Statement of Changes in Equity (Unaudited) For the Six (6) Months Ended 30 June 2026 (Expressed in Bahamian dollars)

Fidelity Bank (Bahamas) Limited

(Incorporated under the laws of the Commonwealth of The Bahamas) Consolidated Statement of Financial Position (Unaudited) As of 30 June 2026 (Expressed in Bahamian dollars)

Capital – Ordinary Shares $

Capital – Preference Shares $

Revaluation Reserve $

Retained Earnings $

Total $

20,449,512

15,000,000

2,607,186

73,979,160

112,035,858

-

-

-

8,966,669

8,966,669

Property, plant and equipment revaluation

-

-

-

-

-

Total comprehensive income

-

-

-

8,966,669

8,966,669

Depreciation transfer

-

-

(26,030 )

26,030

-

Total transfers

-

-

(26,030 )

26,030

-

As of 1 January 2026

ASSETS Cash on hand and at banks Investment securities Loans and advances to customers Other assets Investments in joint ventures Property, plant and equipment

2026 $

2025 $

259,687,982 234,994,904 340,088,894 12,468,559 211,365 9,957,285

250,558,571 204,674,480 349,112,371 14,708,581 207,883 9,676,340

Total assets

857,408,989

828,938,226

Comprehensive income Net income Other comprehensive income

Transfers

Transactions with owners

LIABILITIES Deposits from customers Accrued expenses and other liabilities

731,046,330 5,843,625

712,134,059 4,768,309

Dividends – preference shares

-

-

-

(483,493 )

(483,493 )

Dividends – ordinary shares

-

-

-

-

-

Total liabilities

736,889,955

716,902,368

Total transactions with owners

-

-

-

(483,493 )

(483,493 )

As of 30 June 2026

20,449,512

15,000,000

2,581,156

82,488,366

120,519,034

Dividends per share

-

0.32

EQUITY Capital – ordinary shares Capital – preference shares Revaluation reserve Retained earnings

20,449,512 15,000,000 2,581,156 82,488,366

20,449,512 15,000,000 2,607,186 73,979,160

Total equity

120,519,034

112,035,858

Total liabilities and equity

857,408,989

828,938,226

Consolidated Statement of Changes in Equity (Unaudited) For the Year Ended 31 December 2025 (Expressed in Bahamian dollars) Capital – Ordinary Shares $

Capital – Preference Shares $

Revaluation Reserve $

Retained Earnings $

Total $

20,449,512

15,000,000

1,710,298

73,407,415

110,567,225

-

-

-

16,509,224

16,509,224

Property, plant and equipment revaluation

-

-

945,077

-

945,077

Total comprehensive income

-

-

945,077

16,509,224

17,454,301

Depreciation transfer

-

-

(48,189 )

48,189

-

Total transfers

-

-

(48,189 )

48,189

-

Dividends – preference shares

-

-

-

(975,000 )

(975,000 )

Dividends – ordinary shares

-

-

-

(15,010,668 )

(15,010,668 )

Total transactions with owners

-

-

-

(15,985,668 )

(15,985,668 )

20,449,512

15,000,000

2,607,186

73,979,160

112,035,858

0.52

0.65

As of 1 January 2025 Comprehensive income

Consolidated Statement of Comprehensive Income (Unaudited) For the Six (6) Months Ended 30 June 2026 (Expressed in Bahamian dollars) 3 Months Ended 30 June 2026 $ INCOME Interest income Bank deposits, loans and advances Investment securities

Net income Other comprehensive income

6 Months Ended 30 June 30 June 2026 2025 $ $

Transfers

Transactions with owners

13,304,998 2,081,896

26,534,459 4,107,035

27,318,421 3,002,661

15,386,894

30,641,494

30,321,082

Interest expense

(1,426,337)

(3,230,652 )

(3,783,059 )

As of 31 December 2025

Net interest income

13,960,557

27,410,842

26,538,023

Dividends per share

Fees and commissions Other income

3,593,941 75,263

7,110,850 114,157

6,210,510 96,130

Total income

17,629,761

34,635,849

32,844,663

Corresponding Figures

EXPENSES General and administrative Salaries and employee benefits Provision for loan losses Allowances for impairment Depreciation and amortisation

6,610,275 4,233,437 1,300,332 288,505

13,324,394 8,539,848 3,235,979 572,441

11,762,606 8,163,843 3,122,181 579,508

Total expenses

12,432,549

25,672,662

23,628,138

Operating profit

5,197,212

8,963,187

7,484

3,482

Share of profits/(losses) of joint ventures Net income and total comprehensive income

Weighted average number of ordinary shares outstanding Earnings per share

Notes to the Consolidated Financial Statements (Unaudited) For the Six (6) Months Ended 30 June 2026 (Expressed in Bahamian dollars)

5,204,696

8,966,669

Where necessary, corresponding figures are adjusted to conform with changes in presentation in the current year.

Further, corresponding figures presented in the consolidated statement of financial position and related notes are as of 31 December 2025.

Capital Management The objectives of Fidelity Bank (Bahamas) Limited (the Bank) when managing capital, which comprises total equity on the face of the consolidated statement of financial position, are: •

To comply with the capital requirements set by the Central Bank of The Bahamas (the Central Bank).

9,216,525

•

To safeguard the Bank’s ability to continue as a going concern so that it can continue to provide returns for its shareholders and benefits for other stakeholders; and

(3,837 )

•

To maintain a strong capital base to support the development of its business.

9,212,688

Capital adequacy and the use of regulatory capital are monitored by the Bank’s management, employing techniques designed to ensure compliance with guidelines established by the Central Bank, including quantitative and qualitative measures. The required information is filed with the Central Bank on a quarterly basis.

The Central Bank, the Bank’s principal regulator, requires that the Bank maintains a ratio of total regulatory capital to risk-weighted assets at or above a minimum of 8.00%. For the six (6) months ended 30 June 2026 and the year ended 31 December 2025, the Bank complied with all of the externally imposed capital requirements to which it is subject.

28,830,129

28,830,129

28,830,129

0.17

0.29

0.30

Subsequent Events Subsequent to 30 June 2026, the Directors of the Bank declared a dividend on ordinary shares in the amount of $0.24 per share, which was settled.

PAGE 12, Monday, August 17, 2026

Maryland tax court voids digital ad tax, orders refunds to Apple, Google and Peacock TV ANNAPOLIS, Md. Assoociated Press A MARYLAND state tax court has struck down the state’s first-in-the-nation tax on digital advertising and ordered state officials to repay the tax money already collected from big tech firms.

The Maryland Tax Court said the tax violates the federal Internet Tax Freedom Act as well as the First Amendment and the commerce and due process clauses of the U.S. Constitution.

The legal fight has been watched by other states that are considering taxes for online ads. Maryland estimated the tax, approved in 2021, could raise about $250 million a year to help pay for a sweeping K-12 education measure.

In Friday’s decision, the tax court ordered the state to repay the tax money already collected by Apple, Google and Peacock TV. The law taxed revenue that large companies make on digital advertisements shown in Maryland.

Companies making more than $100 million in global annual gross revenues were taxed at a 2.5% rate. The rate increased for companies with larger revenues, topping out at a 10% rate for companies making $15 billion or more in global gross annual revenues.

Supporters of the law contended that Maryland needed to overhaul its tax methods in response to significant changes in how businesses advertise. But attorneys representing Big Tech companies including Meta and Amazon challenged the law in multiple legal venues, arguing in

part that they were unfairly targeted.

Last year, 4th U.S. Circuit Court of Appeals ruled part of the law violated the Constitution because it blocked Big Tech companies from telling customers about the tax. That, Judge Julius Richardson said, violated the right to free speech.

Maryland Senate President Bill Ferguson and House Speaker Joseline Pena-Melnyk, both Democrats, issued a statement saying they “respectfully disagree” with the tax court ruling and expect the legal process to continue.

They said the tax was enacted to keep the state’s tax system in pace with a changing economy.

“We remain committed to ensuring that Maryland’s tax system is fair, sustainable, and reflects today’s economy,” they said. “We will continue working with the Attorney General and Comptroller as this matter proceeds through the courts.”

The tax court said Congress — not the state legislature — is tasked with regulating interstate commerce, and that the tax law was inappropriately based on global revenue rather than revenue from in-state advertising.

The federal Internet Tax Freedom Act bars the taxation of e-commerce if similar services are not taxed. At least for now, the tax court found, there isn’t much of a difference between digital advertising and print or billboard ads, which means the bar on taxation applies.

THE TRIBUNE

America In Focus: Inflation cools in July, but so do consumers with their spending

By MICHELLE CHAPMAN AP Business Writer THE economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses.

Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.

Inflation cooled last month, but costs remain high U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy.

Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, the Labor Department said Wednesday. But inflation is still higher than before the Iran war began in February, when it was 2.4%. On a monthly basis, prices rose just 0.1% from June to July.

Wednesday’s report comes as the Federal Reserve is sharply divided over whether it should hike its key interest rate to combat inflation. The Fed kept its rate unchanged, at about 3.6%, at a meeting late last month. But the vote was 9-3, with three dissenters favoring a rate hike.

A MOTORIST fills up the fuel tank of a vehicle as another motorist follows suit in the background at a QT gasoline station Wednesday, Aug. 12, 2026, in Greenwood Village, Colo.

Photo:David Zalubowski/AP Significant drop in retail spending catches everyone off guard Americans unexpectedly cut their spending in July as a boost from government tax refunds faded.

Retail sales slipped 0.6% last month, the biggest drop since May 2025, from a revised gain of 0.2% in June, according to Commerce Department data released Friday.

There was a notable bump in spending in both April and May as Americans dipped into their tax refunds. That affect may have faded last month.

Excluding sales at gas stations and at auto dealers, retail sales in July fell 0.2%.

Gas prices bounced back in recent weeks in what appears to be a stalemate in the Strait of Hormuz.

US existing home sales fall in July Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective buyers.

Existing home sales fell 1.7% last month from June to a seasonally adjusted annual rate of 4.06 million units, the National Association of Realtors said Tuesday. That’s slightly above the 4.05 million pace economists were expecting, according to FactSet, and up 0.7% compared with last year.

Home prices continued to rise, hitting unprecedented levels for the month of July, NAR said. The U.S. median sales price increased 2% from a year earlier, to $434,100.

Wholesale price inflation slows Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead.

The Labor Department’s producer price index — which captures inflation before it reaches consumers — rose 4.7% in July from a year ago, down from a much larger 5.5% increase in June.

On a monthly basis, wholesale prices were unchanged from June to July, after they ticked down 0.1% the previous month.

The figures follows the government’s consumer price inflation report, released Wednesday, which also showed a modest cooling last month. Still, consumer prices have risen faster than wages for the past four months, underscoring the challenges many Americans have affording necessities such as rent and

utilities. If prices continue to outpace wages, many consumers may be forced to dial back their spending in the coming months.

US unemployment claims rise but remain at healthy level U.S. applications for unemployment benefits rose last week, but layoffs remain at historically healthy levels.

The Labor Department reported Thursday that 209,000 people filed jobless claims last week, up from a revised 200,000 the week before and higher than the 205,000 forecasters had expected. The four-week average of applications, which smooths out week-to-week-volatitlity, was unchanged at 199,000.

The overall number of people collecting employment benefits the week that ended Aug. 1 dropped by 22,000 to 1.78 million.

Claims for jobless benefits are a proxy for layoffs, and they’ve been at a historically low range of around 200,000 to 230,000 a week for the past year, suggesting that Americans who have jobs enjoy unusual job security. The U.S. unemployment rate is low at 4.1%, as the economy has proved resilient despite a spike in energy prices caused by the fighting with Iran.

Mortgage rates dip slightly, but still up from last year The average long-term U.S. mortgage rate fell slightly for the first time in six weeks on Thursday, marking a glimpse of relief for prospective homebuyers — although borrowing costs remain steeper than they were a year ago.

The benchmark 30-year fixed rate mortgage rate tumbled to 6.67%, mortgage buyer Freddie Mac said Thursday, down from 6.69% reported last week.

Wall Street week ahead: Home Depot and Walmart report earnings, minutes of Fed meeting are released NEW YORK Assoociated Press WALL Street will get financial updates from some of the nation's biggest retailers this week, along with more details from the Federal Reserve's most recent meeting.

Home Depot reports its latest results on Tuesday, followed by Target and Lowes on Wednesday, and then Walmart on Thursday.

The results will help give investors a more detailed picture of how businesses and consumers are handling stubbornly high inflation.

The rate of inflation remains solidly above 3%.

The ongoing U.S. war with Iran prompted a surge in oil prices, which jolted gasoline prices. Higher prices on everything from gasoline to groceries and any goods that are shipped could prompt people to shift or cut spending.

Results from Home Depot and Lowes could

provide more insight into the housing market and whether people are spending more or less on home improvements. Results and forecasts from retail giants Target and Walmart could provide more insight into how households are budgeting and spending.

Wall Street and economists will get more details about the Fed's interest rate policy when the central bank releases minutes from the July meeting on Wednesday.

The Fed once again held its interest rate steady in July amid worries about stubborn inflation, the jobs market and the direction of the economy. But three officials dissented in favor of higher rates during the meeting. Fed Chair Kevin Warsh described the policy discussion to reporters as a "good family fight." Wall Street expects at least one rate hike before the end of 2026.

THE TRIBUNE

Monday, August 17, 2026, PAGE 13

US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades

By ANNE D’INNOCENZIO AP Business Writer AFTER splurging on the World Cup and Amazon Prime Day sales, Americans unexpectedly cut their spending in July by the biggest amount in more than a year.

Retail sales fell 0.6% last month, marking the biggest decrease since May 2025, compared with a revised gain of 0.2% in June, according to the Commerce Department data released Friday. Economists were projecting a small increase.

The decline followed a notable bump in spending in both April and May as Americans dipped into their government tax refunds.

The drop in spending for July, however, raised concern among some economists about the resiliency of consumers who have powered the economy forward despite nagging inflation and soaring gasoline prices. Yet, it may be too early to declare a retreat by one of the strongest and most consistent forces in the U.S. economy of late.

Still, the weak sales report follows unexpectedly sluggish jobs figures last week, and both suggest the economy could be slowing after strong consumer and business spending in the first half of the year.

Separately, consumers turned more pessimistic about the economy this month, likely driven by stubbornly high prices, according to the University of Michigan’s consumer sentiment index, released Friday.

While most economists still expect solid economic growth in the July-September quarter, many have lowered their forecasts in the wake of the retail sales report.

Prices in July, which were not adjusted for inflation, were impacted by falling sales at gas stations. Fuel prices remained low until later in the month when evidence of a stalemate between the U.S. and Iran in the Strait of Hormuz began to grow. Business at gas stations fell 0.9% last month, according to the report.

Gas prices have been rising since the final week of July and ticked higher again overnight to $4.08

A PERSON carries a shopping bag in Philadelphia, Dec. 10, 2025. Photo:Matt Rourke/AP per gallon, up from $3.85 a month ago, according to motor club AAA. That’s 92 cents more per gallon than Americans were paying last year at this time.

Gas prices typically begin to recede in August as the driving season comes to a close and the AAA said this week that the high cost of fuel for Americans this late in the year is unprecedented.

Excluding sales at gas stations and auto dealers, retail sales in July fell 0.2%.

Business at motor vehicle and parts dealers saw a 1.8% drop from a 1.9% increase in June, which was helped by auto makers’ promotion incentives.

Electronics and appliance sales declined 0.5%. Online sales fell 2.2% from June when they were fueled by spending surrounding Amazon’s four-day Prime Day event that began in late June, earlier than previous years.

The drop in online sales weighed heavily on the

so-called control group— which excludes food services, autos, building materials and gas station sales and is used to calculate economic growth. That figure fell 0.4% last month.

“American consumers are showing signs of fatigue, “ Heather Long, chief economist at Navy Federal Credit Union, wrote Friday. “July retail sales were disappointing on all levels.”

But the weak sales seemed to be concentrated in a few areas.

Among some of the bright spots in the report: clothing and accessories stores, furniture and home furnishing stores as well as building material and garden supplies merchants all posted gains last month.

The data offers only a snapshot of consumer spending and doesn’t include activities like travel and hotel stays. But the lone services category – restaurants – registered a healthy 0.5% increase “Though the latest numbers warrant a downgrade to the spending forecast, it’d be premature to write off the consumer,” Bernard Yaros, lead U.S. economist at Oxford Economics said.

Wall Street slips from its record following the latest weak update on the US economy

By STAN CHOE AP Business Writer THE U.S. stock market edged back from its all-time high Friday following the latest report on the economy to come in surprisingly weak, this time about how much shoppers are spending at retailers. Such data could keep interest rates low, which is something Wall Street loves, but it also raises the risk of a slowing economy when inflation is still high.

The S&P 500 slipped 0.2% from its record set the day before. The Dow Jones Industrial Average dipped 107 points, or 0.2%, and the Nasdaq composite sank 0.3%.

Stocks gave up modest gains from early in the morning after oil prices swung higher. The price for a barrel of Brent crude rose 1.7% to $88.52 as uncertainty continues about when the war with Iran will allow oil tankers to freely exit the Persian Gulf again.

Also raising uncertainty was a report showing shoppers spent less at U.S. retailers last month than the month before. That surprised economists, who

were forecasting another month of growth.

On the bright side for financial markets, such a pullback in spending could take pressure off inflation.

Inflation remains much higher than anyone would like, but reports earlier this week suggested the pace of increases in prices is decelerating.

If inflation keeps trending that way, it could encourage the Federal Reserve to hold off on hikes to interest rates.

Higher rates would help keep a lid on inflation, but they do so by intentionally slowing the economy and making it more expensive for everyone to borrow money.

The downside of such data, including last week’s surprisingly weak report on the U.S. job market, is that they raise the risk of a slowing economy. The Fed has no good tool to fix both a stagnating economy and high inflation at the same time, which is why what’s called “stagflation” is seen as a worst-case scenario.

Some on Wall Street cautioned against overreacting to the weak data on U.S. retail sales, even if it was broad based. It could simply

SPECIALIST Michael Pistillo works on the floor of the New York Stock Exchange, Wednesday, Aug.. 5, 2026, in New York.

Photo:Yuki Iwamura/AP

be a snap back after retail sales in earlier months were boosted by unusual factors such as big tax refunds, the World Cup and even an earlier Prime Day event at Amazon, according to Jennifer Timmerman, senior investment strategy analyst at Wells Fargo Investment Institute.

U.S. consumers nevertheless appear to be getting more discouraged about the economy. A preliminary survey by the University of Michigan suggested sentiment among them is weakening by more than economists expected.

The survey said drops occurred across the political spectrum and showed up

Berkshire Hathaway boosted stake in Alphabet, homebuilders in the second quarter

By ALEX VEIGA AP Business Writer BERKSHIRE Hathaway is increasing the size of its stake in Google’s parent company and beefing up its holdings in homebuilders, according to the conglomerate’s latest snapshot of its investment portfolio.

The Omaha, Nebraska-based company also continued to pare its stake in financial companies and a number of other stocks in the April-June quarter, according to a regulatory filing filed late Friday.

CEO Greg Abel, who took over from Warren Buffett at the start of the year, agreed in June to make a $10 billion stock investment in Alphabet, expanding on the stake that Berkshire started to build last fall.

In the second quarter, Berkshire picked up roughly 48.1 million shares in Alphabet, bringing its total shares in the tech giant to roughly 106 million. That stake was valued at about $37.76 billion as of June 30, according to the filing. As recently as

the end of December, Berkshire held only 17.8 million Alphabet shares worth $5.6 billion. Alphabet has said it plans to raise $80 billion to pay for the computing infrastructure needed to power its AI offerings. Beyond tech, Berkshire continued to boost its investments in the U.S. homebuilding sector.

Its stake in homebuilder Lennar increased nearly 30% in the second quarter.

Berkshire also established a small new stake in D.R. Horton that was worth $580,504 at the end of June.

In July, Berkshire completed a $6.8 billion acquisition of homebuilder Taylor Morrison.

Berkshire also sharply increased its shares in Delta Air Lines and Macy’s in the second quarter. The stakes were worth about $5.37 billion and $173 million, respectively, as of June 30.

Berkshire also pruned its investment portfolio in the second quarter, reducing its stake in several companies relative to where they stood in the first quarter,

He noted the job market is “broadly balanced,” and wealthy households, boosted by strong gains in the stock market, continue to spend.

New data this week showed that inflation declined slightly in July as gas and grocery prices slipped, though it is still rising more quickly than before the Iran war.

Consumer prices increased 3.4% in July from a year ago, down slightly from 3.5% in June, the Labor Department said Wednesday. Inflation had fallen to 2.4% before the Iran war. On a monthly basis, prices rose just 0.1% from June to July.

The modest decline marked the second straight decrease after sharply higher gas prices pushed inflation to 4.2% in May, a three-year high.

Given the volatile economic environment, economists are closely watching how families spend behind Christmas.

Shopping has been steady, though Americans have dialed in on sales as they grow more careful with their money.

including supermarket operator Kroger, steel manufacturer Nucor and dialysis giant DaVita. The company also dumped all its holdings — 632,890 shares — in beverage company Constellation Brands.

Berkshire also pared its shares in several financial companies. Its stakes in Bank of America and Ally Financial declined by around 6% and 6.9%, respectively, and it slashed its shares in Capital One Financial by 58%.

Many investors have followed Berkshire’s portfolio closely over the years because they liked to copy Buffett’s moves. He remains the company’s chairman and largest shareholder.

But Berkshire, which owns dozens of businesses including major insurers like Geico and BNSF railroad, never comments on the moves it makes to its stock portfolio from quarter to quarter because it doesn’t want to discuss what it is buying and selling.

particularly among older, lower-income and other groups who can be hurt most by inflation.

On Wall Street, Reddit jumped 12.6% after learning its stock will join the S&P 500 index on Tuesday.

Many professional investors

and funds closely track the index, either mimicking it or at least measuring their performance against it. That can push many to buy a stock automatically when it enters the index.

Applied Materials fell 5.1% even though the

company, whose technology helps make semiconductors, reported stronger profit and revenue for the latest quarter than analysts expected.

CEO Gary Dickerson said global hunger for artificial-intelligence technology helped it deliver another record quarter.

But its stock had already more than doubled this year and built expectations very high, which helped pressure the stock on Friday.

AI stocks in general have been swinging sharply on worries that their prices shot too high because of AI euphoria and that their strong growth in revenue may not be sustainable.

All told, the S&P 500 fell 13.23 points to 7,785.76.

Despite the loss, it nevertheless closed out a third straight winning week, its longest such streak since a nine-week run that ended in May.