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MONDAY, NOVEMBER 2, 2026

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Ex-PM disputes go-ahead on treasure hunt law ‘violation’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net AN EX-PRIME minister yesterday revealed he was stunned by “all this wealth” lying beneath Bahamian waters as he hit back at claims he gave Walker’s Cay’s owner the go-ahead to “violate” the country’s treasure hunting laws. Dr Hubert Minnis signalled to Tribune Business this assertion, which arose in the recent courtroom battle between Carl Allen and the latter’s former contractor, had been taken out of context as there was an urgent need to protect and preserve artifacts from a sunken Spanish galleon estimated to have been carrying up to $1.5bn worth of valuables. He spoke out after Mr Allen testified under oath before the North Texas chief judge that Allen Exploration, his underwater search and recovery outfit, had retrieved artifacts such as coins, gems and other valuables from the Nuestra Senora de la Maravillas wreckage field before obtaining the necessary ‘recovery permit’

from Bahamian regulatory authorities. Mr Allen, though, denied there had been “a violation of Bahamian law”, and breach of Allen Exploration’s licence terms, as argued by attorneys for Dan Porter, principal of Florida-based Maritime Research & Recovery (MRR), a former contractor. The millionaire owner of Walker’s Cay, the northern-most island in the Abacos chain, instead asserted he had been granted an “exception” from Bahamian law governing underwater exploration and salvaging by Dr Minnis following a meeting between himself, the former prime minister and the then-attorney general, Carl Bethel KC. The June 26, 2026, trial transcript detailing the legal battle between Mr Allen and Mr Porter, which has been obtained by Tribune Business, reveals the Allen Exploration chief told the North Texas federal court that Dr Minnis agreed it was “a delicate situation” and “that leaving treasure on the bottom of the ocean” to be stolen by scavengers and

Port’s fourth ‘energy’ terminal to ease shipping cost pressure BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net THE NEAR-$180M project to provide cleaner electricity to vessels docked at Nassau Cruise Port will “be completed within the next 12-18 months” amid expectations that supply will start in the 2027 third quarter. Dion Bethell, president and chief financial officer of Arawak Port Development Company (APD), the BISX-listed Nassau Container Port operator, in written replies to Tribune Business questions said the Island Power Producers (IPP) development has

signalled it should complete its construction build-out by early 2028. “We have been advised by the IPP team that the IPP LNG (liquefied natural gas) project should be completed within the next 12–18 months. This is the indicative timeframe communicated by the project team, rather than a confirmed commissioning date,” he explained. APD, operator of Nassau’s major commercial shipping port, has a $5m investment in the IPP project, which is designed to supply cleaner LNG-fuelled shore power to cruise ships via an underwater

POWER - See Page B6

GBPA chair: ‘Don’t throw baby out with bath water’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net THE GRAND Bahama Port Authority’s (GBPA) co-chair has repeated warnings to “not throw the baby out with the bath water” over proposed governance reforms given that Freeport’s founding treaty has served as the model for multiple rivals. Sarah St George, speaking at Friday’s ‘Icons of the City’ ceremony, gave an insight into the position of her family, which owns 50

SARAH ST GEORGE percent of Freeport’s quasi-governmental authority, by asserting that the concept of Bahamian and

CHANGE - See Page B7

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Cruise port eyes ‘hell of a way to close out’ 2026 BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net

DR HUBERT MINNIS

CARL ALLEN

Walker’s Cay owner started multimillion recovery without permit But says Dr Hubert Minnis gave legal ‘exception’; AMMC not told Former PM worried about ‘leaving treasure on bottom of ocean’ unauthorised operators was “not a good idea”. Dr Minnis, when contacted by this newspaper yesterday, recalled the meeting with Mr Allen and replied “no, no” when informed about the argument by Mr Porter’s attorneys that he had given the go-ahead to proceed despite Allen Exploration lacking the necessary recovery permit at that time.

Backing Mr Allen’s recollection of their encounter, Dr Minnis said he recalled being stunned by the recovered Nuestra Senora de la Maravillas artifacts presented before him and the glimpse it offered of a potential new source of national wealth from long-forgotten riches lying on the Bahamian seabed. Judge Reed O’Connor, in his October 21, 2026,

EXPLORE - See Page B9

NASSAU Cruise Port is eyeing “a hell of a way to close out the year” as it expects to be at full capacity, with six vessels berthed, on close to 50 percent of the remaining days left in 2026. Michael Maura, the Prince George Wharf operator’s chief executive and director, told Tribune Business that 26 of 2026’s remaining 60 days are set to feature six vessel calls, bringing potentially over 30,000 combined passengers into the heart of downtown Nassau on those days. And a further 19 days are set to feature five vessels berthing in the Bahamian capital. This means that, on 45 or 75 percent of the remaining 60 days in 2026, Nassau will receive five or six cruise ships. Based on these figures, Nassau Cruise Port is targeting a 9.5 percent year-over-year increase in cruise passengers to 6.65m for the whole of 2026, with vessel calls up by 38 at 1,620 compared to 2025’s 1,582.

MICHAEL MAURA Mr Maura told this newspaper that further growth, although not at the same rate as 2026’s near600,000 jump in cruise passenger arrivals, is forecast for 2027. While vessel calls are expected to be flat at the same 1,620, he added that visitor numbers are expected to further increase by around 150,000 to 6.8m in the upcoming year due to increased ship sizes. Describing the $330m port as having turned in a “solid performance” for 2026, he said: “I think we have something like 26 sixday ship calls in November and December. To your point about closing out the year, that’s a hell of a way to close out the year.

VOYAGE - See Page B9

PAGE 2, Monday, November 2, 2026

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Procurement Department’s ‘acting’ designation raises concern over independence F ive years after The Bahamas introduced its Public Procurement Act, an important question remains: Are the arrangements governing the Public Procurement Department sufficiently independent to safeguard the integrity of government contracting? The answer matters to every taxpayer and every business competing for public contracts. THE PUBLIC Procurement Act 2021 came into force on September 1, 2021. It introduced a framework intended to strengthen transparency, competition, accountability and value for money. At that time, an acting chief procurement officer was publicly identified while recruitment for a permanent head continued. The Act was amended in 2023, but an official procurement notice published in October 2026 still directs inquiries to an “Acting chief procurement officer.” This raises questions about the duration of acting leadership and whether a substantive appointment has been made. A department with Government-wide responsibilities The Public Procurement Department has functions that extend beyond the Ministry of Finance. Its work concerns procurement standards, administration, reporting and the broader implementation of procurement rules across public entities. Under the legislation, the chief procurement officer has defined management and reporting responsibilities, while procurement committees and other bodies exercise their own decision-making and review functions. These distinct functions should reinforce one another. Yet effective governance also requires clear boundaries between officials involved in recommending a contract and those charged with monitoring, reporting on or questioning the procurement process. The potential conflict

Information that the acting chief procurement officer also serves on the Ministry of Finance procurement committee warrants clarification. If confirmed, the nature of that membership matters. Is the officer a voting member, an adviser or an observer? Does the officer participate in recommendations or approvals? What recusal procedures apply? Committee membership alone does not establish an unlawful conflict of interest. But an official who participates in a procurement decision while also carrying department-wide reporting or compliance responsibilities may encounter an actual, potential or perceived conflict. The relevant test is whether safeguards preserve impartiality and provide meaningful scrutiny. Consider two directaward scenarios

Suppose the acting chief procurement officer, as a member of the Ministry’s committee, recommends a direct award for a contract that should instead have been openly competed for. Who challenges that recommendation, and through what process? Suppose another committee member proposes such a direct award, and the acting chief procurement officer supports the recommendation. If the procurement method is later questioned, how is the decision independently examined, particularly where the official with broader procurement responsibilities participated in it? These are hypothetical examples, not claims that either event occurred. They expose a practical governance concern: Who checks the decision-maker when the official responsible for broader procurement administration is also among those making or recommending the decision? Direct awards are not inherently unlawful. The 2023 procurement framework allows non-competitive procurement in specified circumstances, subject to legal conditions and applicable approvals. The issue is whether a particular direct award meets those conditions, whether the justification is recorded and whether an impartial challenge or review mechanism is available. Who checks the process? The Ministry of Finance should be able to explain the acting chief procurement officer’s precise committee role, the authority under which the arrangement operates, and the safeguards separating participation in individual procurements from departmental reporting and compliance responsibilities. If the officer takes part in a contested recommendation, is there a requirement to recuse from subsequent examination of that matter? Who receives complaints? Which body is empowered to review the procurement method, and how are its findings communicated? The existence of formal avenues for challenge does not remove the need for strong controls before contracts are awarded. The question of acting leadership

DANIEL FERGUSON The Department also deserves stable and clearly accountable leadership. In January 2022, the Ministry of Finance’s financial secretary publicly linked delayed contract award disclosures to the absence of a formally-appointed chief procurement officer. Subsequent public statements described progress in reporting and training, including challenges in bringing procuring entities into full compliance. An October 2026 procurement notice still uses the ‘acting’ title. That does not by itself prove that the Department has been ineffective. It does, however, make it reasonable to ask whether a substantive appointment has occurred, why acting arrangements have continued, and how leadership continuity and statutory accountability have been maintained. A test of public confidence The public procurement reform effort should be judged by more than legislation, a department’s existence or an electronic tendering platform. The meaningful tests are whether competition is the norm, exceptions are justified, awards are properly disclosed and decisions can be scrutinised without institutional conflicts. The Ministry of Finance and the Public Procurement Department can strengthen public confidence by explaining these governance arrangements openly. Clear answers would protect the integrity of officials as well as the rights of suppliers and taxpayers. Ultimately, the question is not whether the Department exists, but whether its leadership, safeguards and reporting arrangements allow it to fulfil its responsibilities with transparency and impartiality. • NB: Daniel S. Ferguson, FCIPS, CM is the author of Public Procurement in The Bahamas: Lessons Learned from Reform, Practice, and Experience. He is retired Chief Petty Officer (RBDF), Lead Investigator – 2004 Lorequin Commission of Inquiry, former Chief Supplies Officer, Ministry of Health; Procurement Consultant, Ministry of Finance; Adjunct Facilitator in Public Procurement, University of The Bahamas; former Component Coordinator for the IDB-sponsored Public Financial Management Reform Project. Mr Ferguson led the drafting team for the Public Procurement Act 2021 and Regulations, assisted in developing the University of The Bahamas professional procurement officers training framework, and managed the development of the

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Monday, November 2, 2026, PAGE 3

Building materials suppliers to act on competition worry BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net FREEPORT building materials suppliers are planning to supply both the Government and Grand Bahama Port Authority (GBPA) with data by next week “to support the argument” they face unfair competition and predatory pricing. Glennett Fowler, founder and group president of the Heroic Group, which includes Heroic Concrete & Concrete Products, told Tribune Business that the eight-strong group met last week and gave themselves a “14-day timeline” to write to the authorities as she branded the enactment of competition laws “a priority” for The Bahamas. The meeting, and government and GBPA outreach, are the latest move by Bahamian-owned operators to address concerns that a foreign-owned operator, Del Zotto Products of The Bahamas, the former Gold Rock Corporation, is engaged in predatory pricing in a bid to undercut all rivals and drive them out of the concrete products market. Del Zotto Products has vehemently denied it is engaging in such practices, or any type of anti-competitive behaviour, but Ms

Fowler and others remain unconvinced by its ability to sell concrete blocks at US prices of around $2.10 - a level they cannot match if they want to remain commercially viable. The Heroic chief last week questioned how Del Zotto Products is able to sustain such prices given that its production and input costs, such as electricity, are the same as her’s with all concrete products operators sourcing their raw materials from the same suppliers. She and others are concerned the company may be funding and subsidising its losses from the owners’ US operations in a bid to seize market share and cripple Bahamian-owned rivals, with Del Zotto Products operating in industries supposedly 100 percent exclusively reserved for Bahamian ownership under the National Investment Policy. “They want to have a second meeting to put together a formal letter,” Ms Fowler said of last week’s building material supplier meeting on their sustainability challenges. “Right now, we are looking at data to support the argument. This is not a socialistic conversation; it’s an economic conversation. “We want the data to support it fully. We are going to

put a letter to the Government and the GBPA on the concerns prevailing in the industry. That’s the plan. We expect to put in a letter; not this week, the following week. We gave ourselves a 14-day timeline. We plan to request a meeting and go from there.” Ms Fowler said Heroic and other suppliers would be barely breaking even if they try to match Del Zotto Products on price. “For us to keep in business we have to sell at their price to move anything, and that’s basically the cost of production. We break even,” she explained. However, there appear to be no existing laws or regulatory frameworks to address the concerns of Ms Fowler and her fellow Bahamian operators. There is nothing in Bahamian law at present that specifically addresses competition or antitrust concerns, including the abuse of dominant market positions and the likes of predatory pricing. The Davis administration’s election manifesto pledged to “enact modern competition legislation that bans price-fixing and penalises abuse of market dominance”, and ministers said such a law was being worked on prior to May 2026. The Bahamas committed to enacting competition and

King warned on ‘pursuit of private profit’s’ threat BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net ENVIRONMENTAL advocates are calling on King Charles to intervene amid fears that The Bahamas’ “ecological future is being sacrificed in the pursuit of private profit” with ever-expanding development threatening “irreversible damage” to the coast. An October 26, 2026, letter written to the monarch by Eric Carey, the former Bahamas National Trust (BNT) executive director, and carrying the Save Exuma Alliance logo, cited that island - and the $200m Rosewood Exuma project - as a prime example of what they branded as the “immense threat from over-development”. Mr Carey is a top consultant and adviser to Turtlegrass Resort & Island Club, the $200m Rosewood Exuma resort’s main opponent, while the Save Exuma Alliance - a collection of local businesses and developers - has also consistently voiced concerns over the project by Miamibased Yntegra Group, so the development’s appearance in the letter is not surprising. An Yntegra spokesman declined to comment when

contacted by Tribune Business, but a source close to the $200m Rosewood Exuma developer described the letter and its contents as “garbage, absolute garbage”. They pointed to its reference to “extensive dredging”, adding that the developer has consistently pledged no such activity will take place except around the service dock. The hoped-for meeting sought by Mr Carey and the Save Exuma Alliance did not take place during King Charles’ three-day visit to Nassau, although they urged him to use the Commonwealth Heads of Government meeting to call for a renewed commitment to environmental protection and “champion stronger protections for coral reefs, seagrass meadows and mangrove forests”. They also asked the King to push for “independent environmental impact assessments, transparent development processes and approvals, and meaningful consultation with local communities” - all causes that Bahamian environmental advocates have long called for. “We regret to inform you that our country’s ecological future is being sacrificed in the pursuit of private profit. Across The Bahamas, our remarkable coastal

and marine ecosystems face irreversible damage as powerful international hotel developers and investors build ever more extravagant luxury resorts, with little regard for the devastating environmental consequences,” Mr Carey and Save Exuma Alliance told King Charles. “Our islands are home to some of the most extraordinary marine environments on Earth. Our coral reefs, seagrass meadows and mangrove forests support an astonishing diversity of life and, as natural carbon sinks, play a vital role in mitigating the effects of climate change. “Their importance extends beyond an environmental value. They are woven into our national identity. The Queen Conch, a cherished symbol of Bahamian culture depicted on our national coat of arms, is itself now listed as a threatened species on the US Endangered Species Act.” Mr Carey and Save Exuma Alliance then asserted: “Nowhere is this threat more apparent than in the Exumas.” They singled out Big Sampson Cay and the Rosewood Exuma project specifically, adding: “The matter is now before the Supreme Court of The Bahamas, where environmental approvals are being

antitrust legislation as part of the Economic Partnership Agreement (EPA) with the European Union (EU) that was sighed more than 15 years ago under the last Ingraham administration, meaning this nation is non-compliant with one of its international obligations. The legislation was revived briefly under the Minnis administration when it was considering possible accession to full membership in the World Trade Organisation (WTO), only for this to be dropped and competition regulation placed on the shelf again. “We need that legislation. That’s a priority at this point as a country,” Ms Fowler told Tribune Business, noting that while consumers enjoy a government watchdog, the Consumer Protection Commission, “there is no protection for businesses. The only counter-balance is for that framework or Act to be passed”. “There is more development and interest in this country than ever before,” she added. “To ensure we don’t go backwards we need to make sure policy works in the way it’s supposed to as a country. There has to be a catch-up with policy otherwise we will find local suppliers like myself and other industries are disenfranchised.

“That is the premise I am agitating for currently; that we have certain things for protection purposes so people work and benefit from their country. There’s a lot of grey areas that can be closed up by law and policy.” Reaffirming that she is not opposed to competition, and only wants it to be fair and on a “level playing field”, Ms Fowler added that while “there’s a fear of blacklisting for speaking out” she will continue to call for fair and equal treatment for all Bahamians who have answered the call to invest in their country. Ms Fowler, in a statement, said that besides fair competition regulation and the creation of “effective mechanisms to investigate potentially anti-competitive pricing practices and abuses of market dominance”, the eight suppliers also want Bahamian businesses to have “equitable access” to investment incentives and tax breaks. They are also seeking strengthened procurement and participation opportunities for Bahamian-owned businesses, better access to capital and enhanced quality standards from “consistent testing, certification and enforcement of recognised standards across the building materials industry”. Ms Fowler added: “The challenges facing our industry are not isolated. We have businesses operating in different areas of the market, yet experiencing many of the same difficulties. What we need now is meaningful engagement with those who have the authority and

resources to help us address them. “Too many business owners are afraid to speak out because there is a perception that their concerns fall on deaf ears. But remaining silent will not change the conditions under which we operate. We must be willing to raise these issues, and those in positions to help must be willing to listen and act.” She added that the group’s goal is not to restrict foreign investment or dictate market prices, but to establish conditions that support sustainable competition. “We welcome foreign investment and recognise its importance to Grand Bahama’s development. However, we must also create an environment where Bahamian businesses have a fair opportunity to participate, grow and build lasting economic value,” Ms Fowler said. “Our request to the Grand Bahama Port Authority, relevant government ministries, financial institutions and major developers is to engage with the business community, review these recommendations and establish a clear timetable for meaningful action. “We are not asking for protection from competition. We are asking for fair competition. Grand Bahama cannot afford to continue losing local investment, employment and entrepreneurial capacity while the same challenges remain unresolved. Speaking out must lead to engagement, and engagement must lead to action.”

challenged in a defining test of our newly introduced environmental protection laws. “The outcome will shape the future of development across The Bahamas and other nations of the Caribbean for generations to come. We fear the outcome of these decisions. Your Majesty, you have long understood the dangers that irresponsible tourism can pose to the natural world and have campaigned

tirelessly against the threat of ill-judged and reckless development…. “In 2008, you warned specifically of the damage hotels could inflict on coral reefs and wetlands, and of the growing pressure that tourism development places on fragile natural habitats. Nearly two decades later, your warnings are all too justified.” They added that Bahamian reefs, seagrass meadows and mangroves

“are among our strongest defences against” the climate crisis that King Charles referenced during his trip, and urged: “We ask you to continue doing all you can to help Bahamians defend our country from insatiable and ill-informed foreign capital recklessly concreting our coastlines, cays and marine ecosystems, and side-stepping both the substance and spirit of our environmental laws.”

VACANCY Customer Service Representative / Office Assistant Our company is seeking a Customer Service Representative / Office Assistant who will serve as a vital link between our customers and the organization. This role delivers the first impression of our company, resolves customer concerns with professionalism, and ensures that day-to-day office operations run smoothly. By combining exceptional service with strong administrative support, the individual in this position directly drives customer loyalty, supports management decisionmaking, and helps the company meet its service and growth goals. Key Responsibilities Maintain Customer Service Excellence • Respond promptly and professionally to customer inquiries, concerns, and requests across phone, email, and in-person channels. • Resolve issues at first contact whenever possible and escalate complex matters according to established procedures. • Uphold service standards and company policies to ensure a consistent, positive customer experience. • Obtain and evaluate all relevant information to handle inquires and complaints. Customer Follow-Up and Satisfaction • Conduct timely follow-ups on open cases and unresolved requests to confirm resolution and satisfaction. • Handles customer correspondence via all venues. • Gather and document customer feedback, identifying trends and recommending service enhancements. • Manage customer expectations through verbal and written communication. Maintain Close Communication with Management • Provide regular updates to management • Communicate priority issues promptly and propose practical solutions. Reporting and Data Management • Maintain accurate customer records and service logs. • Prepare routine reports as directed by management. • Process customer orders/inquiries received. Office Administration Support • Provide office administration duties as assigned. Collaboration with Cross-Functional Teams • Partner with sales, operations, billing, and other departments to resolve customer concerns and align on shared goals. • Serve as a reliable point of contact to ensure information flows efficiently between teams. Documentation and Compliance • Ensure all customer interactions and transactions are documented accurately and in accordance with company policies and applicable regulations. • Maintain confidentiality and data privacy standards in handling customer and company information. Project Tracking and Time Management • Track assigned tasks, service projects, and deadlines, prioritizing workload to meet servicelevel targets. • Monitor progress on administrative initiatives and report status updates to management. Team Support and Guidance • Mentor, and support sales team members. Skills and Qualifications • 4+ years of customer service experience, including at least 1 year of management or team leadership experience. • Strong proficiency with Microsoft Office Suite, including Microsoft Word, Excel, Outlook, and PowerPoint. • Excellent verbal and written communication skills with a professional, empathetic demeanor. • Strong organizational skills with the ability to manage multiple priorities in a fast-paced environment. • Demonstrated problem-solving ability and sound judgment in handling sensitive situations. If you meet the above requirements, please forward your resume to pcadderley@hotmail.com.

PAGE 4, Monday, November 2, 2026

THE TRIBUNE

GB Shipyard recognises emergency response team GRAND Bahama Shipyard has recognised 20 employees who have volunteered to serve as first responders on its Emergency Response Team (ERT) as part of National Heroes Day celebrations. The Shipyard, in a statement, said the ERT brings together employees from different trades and departments who balance their regular responsibilities with the additional commitment of emergency preparedness. The team recently completed training sessions including basic firefighting, first aid and CPR (cardiopulmonary resuscitation) as well as confined-space rescue. Renaldo Simms, the Shipyard’s safety officer and ERT team lead, said its strength lies in its willingness to serve, commitment to continuous training and readiness to respond when needed. “Being part of the ERT is more than responding to emergencies. It is about prevention, preparedness, protecting lives and continuing to build on the strong safety culture throughout the Shipyard,” he said.

THE GB Shipyard’s Emergency Response (ERT) team are all volunteers. That spirit reinforces the Shipyard’s commitment to creating a safer working environment for everyone. Photos:Alfred Anderson/Barefoot Marketing

PICTURED are the Grand Bahama Shipyard’s Emergency Response Team (ERT). The all-volunteer team brings together employees from different trades and departments who balance their regular responsibilities with the additional commitment of emergency preparedness. Regular training helps team members remain prepared for changing conditions, while developing skills they can also carry into their daily lives and the wider community. Mr Simms said he is encouraged by the team’s continued development and the growing interest from employees who want to volunteer. K’Ondre Linden, who has worked at the Shipyard for almost 12 years and joined

the ERT in 2020, said he is motivated by his own experience of receiving help during a difficult time. “I don't think there's a better feeling than actually helping someone,” Mr Linden said. “When you can come to aid someone in distress, you're just trying to do the Lord's work, so to speak.” For some members their commitment has family roots. Carlo Gibson grew up watching his parents

help others, and saw his father serve on the Shipyard’s ERT, inspiring him to follow the same path. “I enjoy helping people. I watched him [my daddy] enjoy helping people and, as a group, I’ve realised that everybody who joined has the same passion, helping people and wanting to see people in better positions. That’s my why for joining the ERT,” he added. Ray Russell Jnr said the recent training gave him a

new appreciation for the demands of responding to emergencies. “When that time comes, a lot of things go out of the window,” he said, reflecting on how difficult it can be to respond under pressure. The training, Mr Russell added, has been revealing. “I hope that we don't have to put this experience into action, but in the event that there is an emergency, I can truly say that I am prepared,” he added. The Shipyard said the ERT not only reflects its culture of unity, but also supports the principles of its Safety Absolute Programme, which encourages employees and contractors

to identify potential hazards, raise concerns and intervene before incidents occur. Supported by a safety committee and engagement throughout the company, the Shipyard said the programme emphasises prevention, accountability and continuous learning. The Shipyard added that the ERT team’s volunteer spirit reinforces its commitment to creating a safer working environment, demonstrating that a strong safety culture depends not only on training and procedures, but also on people willing to take responsibility for one another.

Aviation minister talks with US ambassador

EXECUTIVE CAREER OPPORTUNITY Assistant Vice President – Operations & Facilities An organization in The Bahamas is seeking an experienced leader to provide strategic direction and executive oversight of its operations, facilities, equipment maintenance and infrastructure. Leading through department managers, the successful candidate will drive operational performance, strengthen asset reliability, manage resources and develop teams while supporting the organization’s strategic objectives.

Key Responsibilities

• Translate business strategy into coordinated departmental plans, measurable targets and operational improvements. • Lead and develop department managers, promoting accountability, collaboration and consistent performance. • Oversee operational activities, facilities maintenance and equipment reliability to support safe, efficient and dependable service. • Manage operating and capital budgets, control costs and evaluate investment priorities. • Direct maintenance planning, infrastructure improvements and capital projects. • Oversee vendor evaluation, procurement and contracting in accordance with company policies. • Promote compliance with safety, security, environmental and quality requirements. • Support Environmental, Social and Governance (ESG) objectives through responsible resource management and sustainable operating practices. • Monitor key performance indicators, manage operational risks and report results and recommendations to executive leadership. • Build effective stakeholder relationships and lead preparedness and recovery efforts during business disruptions.

Qualifications and Experience

• Bachelor’s degree in operations management, engineering, business administration or a related discipline, or an equivalent combination of qualifications and relevant experience. • At least 10 years of progressively responsible experience in operations, facilities or a comparable environment involving significant equipment and infrastructure, including at least 5 years in senior management. • Demonstrated success leading managers and coordinating multiple operational or technical functions. • Strong knowledge of budgeting, asset management, maintenance planning, procurement and project delivery. • Technical understanding of mechanical, hydraulic, electrical or electronic systems and construction sufficient to evaluate proposals and maintenance requirements. • Experience with operational management systems, maintenance software and performance reporting tools. • A relevant postgraduate qualification or professional certification would be an asset.

Leadership Attributes The ideal candidate will demonstrate sound commercial judgment, executive presence and strong analytical skills. They must communicate clearly, build trust and make effective decisions under pressure. Emotional intelligence, active listening and the ability to lead firmly and compassionately are essential. How to Apply Interested candidates should submit a résumé and cover letter outlining their suitability to employment7064@gmail.com by November 20th, 2026, quoting “AVP – Operations & Facilities” in the subject line.

JOBETH COLEBY-DAVIS, minister of energy, utilities and aviation, met with Herschel Walker, US ambassador to The Bahamas, last Monday. The discussions highlighted the importance of strengthening international relationships, deepening strategic collaboration, advancing partnerships around shared priorities and creating sustainable opportunities for national development.

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Monday, November 2, 2026, PAGE 5

Tourism stages the fourth Oktoberfest festival in GB

The Ministry of Tourism, in partnership with the Grand Bahama Island Promotion Board, hosted the fourth annual Oktoberfest Beer and Barbecue Festival on Saturday, October 24, at Taino Beach. The event brought together locals and visitors for a day of barbecue food offerings, activities, live cultural performances and a Junkanoo rush out by the Superstar Rockers.

No jitney disruption amid wait for Gov’t BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net JITNEY operators have pledged to maintain uninterrupted services while awaiting a Cabinet decision on their proposed fare increase, following what industry representatives described as positive discussions with Transport Minister Leon Lundy last week. Harrison Moxey, president of the United Public Transportation Company (UPTC), said operators presented their case to Mr Lundy during Friday's meeting and agreed that their recommendations would be taken to Cabinet for consideration. He said the meeting ended on a positive note, with operators hopeful the Government will support their request, although no final decision has been reached. “We sat with the minister. They heard our case. We came to terms with presenting it to Cabinet, and we hope that our recommendations will be received. But it ended on a positive note,” said Mr Moxey. He said the industry expects to receive a definite response from the

Government by the end of this week, following the minister's opportunity to present their case to Cabinet. “I would say that the meeting went okay. They fully understand, from our perspective, what we are up against, so we hope that's sufficient for them to make the right decision in our favour,” he said. The discussions follow mounting frustration among bus operators over rising diesel prices, insurance premiums and maintenance expenses, which industry representatives have argued are making it increasingly difficult to sustain services under the existing fare structure. Mr Moxey previously warned that operators were effectively running at a loss, pointing to the growing gap between their daily earnings and the cost of keeping buses on the road. The industry has argued that the existing adult fare of $1.50 is no longer sufficient and

has sought an increase to $2. In a statement following Friday's meeting, the Ministry of Transport said Mr Lundy met with representatives of the public transportation industry to discuss the proposed bus fare increase and broader improvements to the sector. “Discussions focused on the fare review process, improved routes and services, stronger enforcement, and the future of public transportation in The Bahamas,” the ministry said. The ministry said it remained committed to working collaboratively with industry stakeholders to build a safer, more reliable and efficient public transportation system. Meanwhile, the ministry is planning a Town Hall meeting for Wednesday, November 4, to invite members of the public to share their views on the future of public transportation. Mr Moxey said the meeting would provide an

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opportunity to gather feedback from commuters and the wider public as operators continue pressing their case. The Ministry of Transport also publicised the meeting under the theme ‘Moving Forward Together’, noting the discussion will extend beyond fares to include service, safety, reliability and the needs of people who depend on public transportation. The Town Hall is scheduled for 6.30pm at Government High School. “Your voice matters. Be part of the conversation,” the ministry said in its invitation to the public. Mr Moxey stressed that bus services will continue uninterrupted while operators awaited the Government's response, following an earlier disruption in which drivers staged

what they described as a sick-out to highlight their financial concerns. The operators had warned they were prepared to take further action if discussions with the

minister failed to produce a satisfactory outcome. However, Mr Moxey said they remain hopeful that Cabinet will give favourable consideration to their recommendations.

NOTICE NOTICE is hereby given that I MAXENE JUNIOR LOUIS of Joan’s Heights, East Street, South Beach, 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 2nd day of November, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Probate Side In The Estate of OSWALD GEORGE NEYMOUR SR. aka OSWALD NEYMOUR SR., late of #17 North Street, Ft. Fincastle in the Northern District of the Island of New Providence one of the Islands of the Commonwealth of The Bahamas, deceased. NOTICE is hereby given that all persons having any claim or demand against the above Estate are required to send the same duly certified in writing to the undersigned on or before the 30th of November, 2026 a#er which date the Administrator will proceed to distribute the assets having regard only to the claims of which she shall then have had notice AND NOTICE is hereby also given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned. DEBRA Y. NEYMOUR Executrix P. O. Box N 9878 Nassau, N. P., The Bahamas Email: dneymour@gmail.com

PAGE 6, Monday. November 2, 2026

THE TRIBUNE

Cruise ship power project finished ‘in 12-18 months’ POWER - from page B1

cable linking the combined cycle, 70 mega watt (MW) Arawak Cay power plant to the Nassau Cruise Port. Michael Maura, APD’s chairman, writing in its just-released 2026 annual report disclosed that the IPP project, located on land in close proximity to the BISX-listed operator’s own Arawak Cay facilities, will spearhead development of the container port’s fourth terminal - the Energy Terminal. Disclosing that installation of IPP’s generation capacity is expected to be finished by the 2028 first quarter, he wrote that the value of APD and its port “extends beyond cargo handling” to supporting “changing national priorities” such as energy reform with critical infrastructure. “APD is pleased to be contributing to the transformation of The Bahamas’ energy sector through its investment in Island Power Producers and the development of a fourth terminal at the Nassau Container Port to be known as the energy terminal,” Mr Maura said. “This development represents an important expansion of the port’s role in the national economy. The energy terminal will support the receipt and distribution of LNG, facilitating power generation in New Providence and the Family Islands, including Abaco and Eleuthera. ”Under the planned arrangements, Island Power Producers will operate the power generation components of the terminal, while Domicisle Ltd will manage LNG supply and distribution.” No further details on Domicisle Ltd were provided by the APD annual report. However, Internet research by Tribune Business shows its Board of Directors is comprised of the same Mr Maura; Anthony Ferguson, president of CFAL, which raised the financing for Island Power Producers; and George Mosko, president of Island Site Development (ISD). Domicisle’s chief executive is Greg Buffington, described as the “original founder and former president of Carib Energy, which was acquired by Crowley Maritime”. Its focus is on LNG transportation and distribution via the supply of ISO tanks; LNG bunkering for cruise and cargo vessels; and LNG “gas to power”. Speaking to the status of IPP’s project, Mr Maura wrote in the APD annual report: “Progress is already evident. In July 2026, the first LNG storage tanks arrived in Nassau, marking an important milestone in the project’s development. Further deliveries and construction activity are planned as the facilities advance towards commissioning. “Looking ahead, new power generation facilities in Abaco and Eleuthera are expected to be commissioned during the second quarter of 2027 with LNG supplied through the Nassau Container Port. “The IPP power plant located at the energy terminal is scheduled to begin generating electricity in the third quarter of 2027, with the planned expansion of generating capacity expected to be completed in the first quarter of 2028.” The energy terminal’s addition will enable APD to further diversify its revenue base, broadening it beyond just commercial cargo, automobiles and construction materials and aggregate. It will also represent an additional revenue stream for the company’s shareholders, which are split between the Government and shipping

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companies, each with 40 percent, and the public’s 20 percent. APD’s profits for the year to end-June 2026 jumped by 13.2 percent to $14.85m, and Mr Maura added that the energy terminal’s introduction will help relieve pressure to implement future shipping tariff and rate increases, thus easing cost of living pressures on hard-pressed Bahamian families. “There is a direct relationship between cargo throughput and the cost of operating a port,” the APD chairman said. “Greater cargo volumes allow operating costs to be distributed across a broader revenue base, reducing the pressure to recover these costs through increased port charges. “This relationship is particularly important in The Bahamas, where the cost of imported goods ultimately affects businesses, consumers and the wider economy. The introduction of LNG as a new cargo stream is therefore expected to deliver benefits beyond the additional revenue it will generate. “By contributing the port’s shared operating costs, these volumes will help mitigate pressure for future tariff increases. Our objective is not simply to expand APD’s commercial activities, but to strengthen the company’s financial position in ways that support competitive charges, continued investments and reliable service.” Mr Maura also disclosed that APD is expanding its crane capacity by one to four to ensure it can match the ever-increasing demand caused by higher cargo volumes and larger ships. This, he added, represents an upgrade from the threecrane model the company started with in 2011, which provided sufficient “flexibility” for two to support vessel operations when one was in maintenance. “Since then, vessel calls have increased, ships have become larger, and cargo requirements have grown more demanding,” the APD chair said. “These developments have reinforced the importance of maintaining adequate capacity and operational flexibility. “APD is therefore expanding its mobile harbour crane fleet through the acquisition of a Liebharr 550, with a lifting capacity of 154 tons. By 2027, the port is expected to operate a fleet comprising two Konecranes ESP 6 units, a Liebherr 420 and the new Liebherr 550. Three cranes will be available for operations at any given time, allowing the fourth to undergo scheduled maintenance. “This investment will strengthen cargo-handling capacity while protecting the equipment availability upon which our shipping partners depend. A smarter port is not simply one with greater capacity. It is one that anticipates demand, manages its assets responsibly and invests before operational constraints become obstacles to growth.” Mr Maura also disclosed that APD is taking registrar and transfer agent services back in-house, having received Securities Commission of The Bahamas approval to manage and administer records of its shareholders, and the buying and selling of its shares, itself. Bianca Aranha will head APD’s registrar and transfer agent department, and Mr Maura said: “Bringing these functions within the company will allow us to improve shareholder communication, strengthen administrative responsiveness and provide more direct assistance to our investors.”

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THE TRIBUNE

Monday, November 2, 2026, PAGE 7

St George makes call: ‘Let Freeport flourish’ CHANGE - from page B1 government sovereignty can work alongside the Hawksbill Creek Agreement. Speaking ahead of yesterday’s launch of public consultation on reforms that could, if ultimately enacted, marginalise and isolate the GBPA and its owners by enabling the Government to seize and regain control of the city’s governance and management, she said Bahamian sovereignty and the Hawksbill Creek Agreement do not “have to be either or” and this nation can have both. And, in what appeared to be a plea for a more harmonious and collaborative relationship between the Government and the GBPA, including the latter’s management and owners, the Hayward and St George families, Ms St George argued the city needs “inventive interaction, not active intervention” and that opting for the latter could undermine signs of Freeport’s economic revival stirring. Urging Freeport and Grand Bahama residents to use the Government’s public consultation as an opportunity to make their

voices heard, Ms St George acknowledged that she was “biased” but argued that the Hawksbill Creek Agreement, with its free trade zone model and business-friendly incentives, still had value for The Bahamas given that it has been copied by so many competitors. “The Hawksbill Creek Agreement established the framework for Freeport, and it has in fact since been replicated in many other places, like Singapore, the Cayman Islands, Dubai,” she said. “A city with this much history, this much potential, and this many people who care deeply about it, deserves thoughtful conversations about its future.” The Davis administration, though, is arguing that the Hawksbill Creek Agreement has “outlived its utility”, and that parts of it need to be replaced, reformed and repealed in equal measure, although it is leaving the specifics and details up to the public consultation outcome. Instead, it is proposing a wider governance regime that covers the whole of the island via a Grand Bahama Development Act, arguing that the favouritism shown

to Freeport by the Hawksbill Creek Agreement has created an economic “imbalance” that has left East End and West End, and other areas outside the city, lagging far behind. A Grand Bahama Development Council would “co-ordinate and monitor” these reforms, but the proposal as is suggests it would be far short of what the GBPA is today or any kind of municipal authority with revenue-raising powers. It is unclear whether it would be able to get Nassau-based ministries, agencies and departments moving on Freeport-specific issues. Many Freeport residents are opposed to the Government taking back the city’s management from the GBPA given its track record in administering and maintaining Nassau and other areas in Grand Bahama. Ms St George appeared to play on those concerns in her address, saying: “Town planning and service co-ordination are things most of us take for granted until, of course, something stops working. This is all foreshadowed in the Hawksbill Creek Agreement. “These are not always glamorous responsibilities.

They rarely make headlines when everything is going well. But a true measure is also how well a city serves the people who live within it. “Do we feel safer? Are our utilities reliable? Does our road flood? iIs our garbage collected twice a week? Do we have unlicensed/illegal operations in our neighbourhood? Are there traffic jams? Do we genuinely like living in Freeport?” Others, such as Thomas Dean, the Dupuch & Turnquest attorney, are backing the case for change, arguing that Freeport is a “company town” or “principality”, representing the largest foreign investment in The Bahamas, that is simply “failing” and not working given the city’s economic, social and population decline over the past two years. But, seeking to make the case for retaining the Hawksbill Creek Agreement, Ms St George described it as “a magic seed” that delivered The Bahamas a second city from what, when it was signed in 1955, was a wilderness and sparsely-populated pine barren forest.

“The Hawksbill Creek Agreement, signed in 1955, established the framework for an extraordinary experiment in economic development,” the GBPA co-chair said. “It was founded upon a belief that, with the right conditions, investment, enterprise and long-term planning, something remarkable could be created…. “Freeport was built through partnership between the Government of The Bahamas, the Port Authority, international investors, Bahamian entrepreneurs and generations of adventurous new Grand Bahamians. Together, they nurtured a seedling into a fruit of labour. And make no mistake, a labour of love.” Calling for a similar partnership to be established today, Ms St George also appeared to push back against the Government’s argument that the Hawksbill Creek Agreement is an outdated colonial anachronism and the suggestion that it represents a privately-controlled domain carved out and separate from the rest of The Bahamas. “Freeport is, and always has been, part of The

Bahamas, and since Independence, part of the sovereign Commonwealth of The Bahamas. That Bahamian sovereignty is enshrined and deeply respected. And, of course, alone of all the islands, we have a Ministry of Grand Bahama,” she said. “We can all work together; the menu doesn’t have to be either-or, surf or turf. Why not both, as envisaged in the Agreement? Knowing the decisions we make today will determine the opportunities of tomorrow. It’s important to protect what’s precious, so let’s not throw the 2026 baby out with the bath water.” And, suggesting that the Government’s reform drive might disrupt investments and Freeport’s rebound, Ms St George said: “We’ve come from nothing to something – not quite everything yet, because no institutions are perfect. “But Freeport and Grand Bahama are about to see more visitors, and activity, than ever before. You can feel it; let it flourish. As I’ve said before, we need inventive interaction not active intervention.”

A third weekend of protests in France as youth-led rallies sweep Europe By TOM NOUVIAN and KIRSTEN GRIESHABER Associated Press HUNDREDS of thousands of protesters inspired by frustrated high school students took to the streets across France on Saturday in a third consecutive weekend of demonstrations over living costs and education. Youth-led protests were also held elsewhere in Europe, including in Germany and Portugal. France’s protests were overwhelmingly peaceful, with whimsical Halloween costumes lightening the mood, but gatherings in Paris and other cities ended in clouds of tear gas and scattered fires set by small groups on the margins. About 70,000 police and gendarmes were deployed across the country after French Interior Minister Laurent Nuñez warned of a “very high risk” of disorder, especially after dark on Halloween. Paris marches were rerouted to the capital’s edge to protect stores, government buildings and touristed areas in the city center. France’s government estimated that 320,000 people protested nationwide Saturday, fewer than in previous

protests but still a significant turnout. Mass protests on Oct. 17 that deteriorated into some of France’s worst rioting in years drew 550,000 people around France, and demonstrations on Oct. 24 drew 410,000, according to government estimates. Organizers’ turnout estimates are higher. Authorities in France reported more than 560 arrests nationwide by Saturday night. Police had arrested thousands of people following riots and looting that marred marches the previous two Saturdays. Protesters have diverse grievances In the main Paris march, each group carried its own banner: high school students, climate activists and people angry about the cost of living. Corentin Cabreux, a 21-year-old student, said that he lives in a state-run student residence where “there are damp stains all along the bottom of my walls, whole sections peeling off, cockroaches everywhere, rats.” An information technology worker protested in solidarity with the students and her mother, who was

struggling with a minimum wage job. A gray-haired woman carried a sign reading ‘’The Old are Fed Up Too.’’ Halloween costumes reflected the mood. Cléo Farenc, a 30-year-old gallery assistant, came dressed as a beheaded Marie-Antoinette. “It’s about embodying a figure of power who was brought down by the people,” she said. “It’s a very strong symbol in French culture.’’ The rallies in France were started last month by high school students protesting neglected buildings, teacher shortages and a university admissions system seen as unfair to disadvantaged students. Labor unions and others angry at the leadership of President Emmanuel Macron joined in with a variety of demands. On Saturday, the crowd streamed along the Boulevards des Maréchaux, avenues that ring the edge of Paris, in a march that

was joyful for hours. Techno music blasted from speakers, and some marchers went trick-or-treating. A police helicopter hovered overhead as the sun set slowly over the city. Later, clashes broke out near Porte de Charenton, where the march ended. Protesters hurled glass bottles and fireworks at police. Officers responded with volleys of stun grenades and tear gas. The blasts echoed through the streets, and smoke filled the air as dusk fell. Many peaceful marchers turned back, coughing, their eyes streaming with tears, and left the march, some scattering into the nearby Bois de Vincennes, one of the largest parks in Paris. Police impose curfew and other measures While the vast majority of protesters have been peaceful, groups of troublemakers routinely target police with fireworks and projectiles.

A MAN uses a street sign to smash the windows of a store in downtown Frankfurt on Saturday, Oct. 31, 2026. Photo:Boris Roessler/dpa/AP Police use tear gas, dispersion grenades, water cannons and other tactics that have resulted in severe injuries. Paris police barred people from entering Place de la Republique and Les Halles — neighborhoods popular among young people — from 11 p.m. to 6 a.m. Saturday and Sunday. Unaccompanied minors face a separate 9 p.m. curfew around the Champs-Elysees. A Paris court on Wednesday suspended an earlier curfew on minors as a serious and illegal infringement of freedom of movement.

Protests took place in Germany, Portugal and the Netherlands In Germany, a youth initiative called “Gen Z regelt” — roughly “Gen Z’s got this” — rallied in more than 30 cities “for education, health, climate protection and an affordable life,” and against any return of military conscription. Organizers said that tens of thousands participated in the protests across the country, but official figures weren’t immediately available.

NOTICE

NOTICE

Janus Inc.

Red Beetle Investments Ltd.

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 210758 B. (In Voluntary Liquidation)

Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General. Dated this 30th day of October A.D. 2026.

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 210382 B

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 30th day of October A.D. 2026. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is MR. YVAN CALIL ZANETTI whose address is Rua Dr. Paulo Ferraz da Costa Aguiar 1600, Vila Yara, CEP: 06026-090, Osasco, SP, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 29th day of November A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved. Dated this 30th day of October A.D. 2026.

MARIA EMILIA DE PAIVA CASTRO

YVAN CALIL ZANETTI

LIQUIDATOR

LIQUIDATOR

NOTICE

Vesovio PTC Ltd.

NOTICE IS HEREBY GIVEN as follows: (a) Vesovio PTC Ltd. is in dissolution under the provisions of the International Business Companies Act, 2000. (b) The dissolution of the said Company commenced on the 28th October 2026 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Jason Mackey. Dated the 29th October 2026

H&J CORPORATE SERVICES LTD.

Registered Agent for the above-named Company

WORDS

CARPE DIEM

That 4345251, after the 121, the 255 served us 5254 341124 burgers wrapped in 3254 leaves. 4345 434 could not eat what she had been 12345, so she asked for an 411 instead. “1234 me one too,” said 1454, “and a large 125, just to keep my 451254 running.”

6

➔

JUDGE PARKER

CL O

In the following passage, the numbers 12345 represent different letters:

IS TRIBUNE WTHE 1 CK

There are six answers be entered clockwise clock face. Each has four each begins with the last two previous one, until we come answer six ending with the firs answer one. Here are t 1 Asian ox 2 Cornish resor 3 Beloved 4 Middle-East se 5 Alan ----, US ac 6 Stun

➔

PAGE 8, Monday, November 2, 2026

5

Solution in Monday’s puzzle pull-out

4

➔ SUMTHING

MARVIN BLONDIE

Fit the missing numbers into the grid so that all the sums are correct – reading left to right or on single lines top to bottom. There are 11 squares to fill, with one digit in each, and the 11 digits you must use are listed below. But where do they all go? Solution in Monday’s puzzle pull-out

+ + ×

We’ve given you one digit to get you started. Here are the missing digits to fit in:

1, 1, 1, 3, 3, 5, 5, 6, 7, 8, 9

−

=

= ×

2

YE HAGAR THE HORRIBLE

TIGER

SAMURAI SUDOKU 6 1 5 8 2 3 4 9 7

3 8 4 1 7 9 5 2 6

9 7 2 4 5 6 8 1 3

8 2 7 3 1 5 9 6 4

4 5 9 2 6 8 3 7 1

1 6 3 9 4 7 2 8 5

5 8 2 6 1 9 4 3 7

7 1 6 4 8 3 2 9 5

9 4 3 2 7 5 6 1 8

8 3 9 5 6 4 7 2 1

4 7 5 3 2 1 9 8 6

2 6 1 7 9 8 3 5 4

2 3 1 7 8 4 6 5 9 8 3 4 1 2 7 9 5 6 8 4 3

7 4 6 5 9 2 1 3 8 2 7 9 6 5 4 8 3 2 1 7 9

5 9 8 6 3 1 7 4 2 5 6 1 3 9 8 1 4 7 5 6 2

5 1 3 6 8 7 2 4 9

9 6 7 4 5 2 8 3 1

8 2 4 1 9 3 7 6 5

3 5 4 7 6 9 2 8 1 3 4 5 9 7 6 2 3 5 1 4 8

6 2 9 4 8 1 3 7 5 9 1 6 4 8 2 9 1 6 5 3 7

7 8 1 5 2 3 4 9 6 7 2 8 5 1 3 7 8 4 6 9 2

WORDSEARCH

1 4 2 9 3 8 6 5 7

9 7 3 6 5 4 8 1 2

5 6 8 2 1 7 9 3 4

2 1 6 3 9 5 7 4 8

4 9 5 8 7 6 1 2 3

8 3 7 1 4 2 5 6 9

6 3 7 4 2 8 9 5 1

8 4 9 5 6 1 2 7 3

2 5 1 3 7 9 8 6 4

1 2 4 6 9 7 3 8 5

3 6 5 8 4 2 7 1 9

7 9 8 1 5 3 4 2 6

SMALL CROSSWORD Across: 1 Assistant, 7 Heroic, 9 Arrival, 10 Lets, 12 Men, 13 Shiners, 14 Say, 15 Rome, 17 Enemies, 19 Sydney, 20 Triangles. Down: 1 Analysis, 2 Sure, 3 Sir, 4 Seventeen, 5 Trader, 6 Nines, 8 Contests, 11 Sienna, 13 Satyr, 16 Mere, 18 Ill.

CALVIN & HOBBES

TARGET FURNITURE feint feni fern fine finer FURNITURE inert infer inter inure nitre nurture rein rent rerun return ruin ruiner rune runt tern tine trine triune tune tuner turn turner unfit unit unite uniter untie untrue urine

DENNIS THE MENACE

J Y B L I B R E S S E T U L E S H R E W E E S H E N I C A L Y H T S E U A U W T S B J T H B A N S E L R A A P C A O M C Y J V E R G O L E A I F A R A G O R I T B I N G T A G O U T H A T B K U N M K A I K I M F Q I D I U S G G J H N H N U E N E E G I K G A P B R T R R C T U L B U V O B R K A P N C R C T O B Y L U M K I U G D V

THE ALPHABEAT

Black squares: 2, 5, 8, 10, 13 23, 24, 25, 31, 35, 38. Across: House, Warming, Jo Oligarchy, Adds, Hope, Buffa Suds, Misquotes, Amaze, Wiz Down: Anthem, Ovoid, Iris, S Euro, Loaf, Doyen, Bangs, Ax Amorphous, Inch, Dozen, Yie

CROSS DOUBT Across: CREEK Down: FRISK

SUMMIT UP 100 and 74

CRYPTOQUOTE AXYDLBAAXR is L O N G F E L L O W One letter stands for another. In this example, A is used for the three L’s, X for the 2 O’s, etc. Single letters, apostrophes, the length and formation of words are all hints. Each day the code letters are different. Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Sudoku increases from Monday to Sunday

Saturday’s Sudoku Answer

MICRO CROSSWORD

CHALLENGER

Saturday’s Answers

THE TRIBUNE

Monday. November 2, 2026, PAGE 9

Some 75% of year’s remaining days to have five or six ship calls VOYAGE - from page B1 “Business has been solid. We were thankful this year there have been no hurricanes, which are obviously a disruption throughout the year, and have not occurred in 2026. Business has been steady. We’re anticipating growth, moderate growth, for next year that will probably be in the neighbourhood of 6.8m passengers. “It’s been good. We’ve been very fortunate. We do expect to do better next year. It’s not as if we’re going to do 10 percent better but it is an improved performance and continued growth. At the moment, 2027 looks good. 2027 looks positive. We’re expecting to exceed 2026.” Mr Maura said much of 2027’s outlook may depend on the pace at which the cruise industry continues to launch larger vessels, how and where those ships are deployed, berth availability

and the competition provided by the sector’s own private island destinations. “The question from a cruise market perspective is the pace at which the industry is launching new ships and the size of those ships, and where those ships will be used,” he explained. “Whether those ships will be dedicated 12-month ships or seasonal ships, and how that compares to the impact on visits to private destinations. “If the industry’s growth is strong to the point that berth availability continues to be the challenge for the industry, we should expect Nassau Cruise Port and Nassau to continue to outperform prior years. “But, if we find there is a gap in the berthing of ships or a pivot to smaller ships principally focused on smaller destinations, and destinations outside The Bahamas, we may find our numbers not growing because it could be the ships being assigned to

Explorer’s PLP election victory fears unfounded EXPLORE - from page B1 decision revealed that, over the four-period from 2020 to 2023, Allen Exploration recovered a combined $12.115m worth of artifacts and valuables from its Nuestra Senora de la Maravillas licence area. The Government’s share of the 2020 treasure recovery was $454,487 with the division and payment completed on August 10, 2021, just before the general election that brought the Davis administration to office. This then increased to $3m for 2021 and 2022 combined, with the Government receiving a further $359,189. Its four-year total share was $3.814m “I remember he flew in and shared them with us,” Dr Minnis told Tribune Business of the artifacts retrieved by Mr Allen’s team. “I was very, very surprised. He’s absolutely correct. I was shocked at the findings. You mean we have all this wealth? “He wanted to display it in Grand Bahama, at a museum there, believing it would encourage tourism and everything else. “I remember the conversation. My first impression was: ‘Jesus Christ, we have all this stuff in our waters and we don’t know?” That museum is the Bahamas Maritime Museum in Freeport. The ex-prime minister and former Killarney MP, describing Mr Allen as “honest and respectable”, and “always up-front”, said the Walker’s Cay owner had even recommended adjusting the split governing how much the Government gains from treasure hunting in this nation’s waters so

that “the Bahamian people receive more”. The split when Allen Exploration obtained its licences from the Antiquities, Monuments and Museums Corporation (AMMC), the state-owned entity that oversees all heritage and cultural activities, including underwater salavage operations, was 25/75 in favour of the explorer. The Davis administration subsequently amended the treasure proceeds split to an even 50/50 share. “I know he’s also always been honest and respectable. He’s always been upfront,” Dr Minnis. “Carl Allen had recommended that it [the split] be adjusted so that the Government get more. He thought it was unfair. He had recommended it. “I couldn’t make the change then. I agreed to make the change. It was his recommendation. It’s unusual for an investor and explorer to recommend that you are not getting what you should get, and recommend you take more. I have great respect for him. “He was very honest and transparent,” the former prime minister continued. “He said our laws should be amended so that the Government and Bahamian people receive more. I remember saying that in Parliament… that Carl Allen had recommended that the Government receive more, and the Bahamian people, and that the Government were robbing themselves. “I said that this is very honourable for an investor to point our our laws are not favourable to us. I have the greatest respect for an individual who’s investing and pointing out that we

private destinations and not Nassau.” Herschel Walker, the US ambassador to The Bahamas, recently signalled that the cruise lines are unhappy with the level of taxation the Government is imposing upon them, and the manner and mechanism for how this being achieved. VAT has been imposed on goods and services consumed on the industry’s private islands, along with increased departure taxes, tourism and environmental levies. Mr Maura, though, said cruise industry chiefs have told him they are committed to complying with all due Bahamian taxes. He added that the only concern revolves around how these are being implemented, and the need for a grace or adjustment period, given that the industry is selling cruises 12 months in advance and has to incorporate tax changes in the ticket price.

“The conversations I’ve been a party to, and I’ve had an opportunity to speak with a couple of chief executives with the cruise lines, have always been that they are committed to pay their taxes that are due,” he told Tribune Business. “The struggle, I believe, and I think it’s a reasonable concern, is the notice of taxation. Everybody likes to be able to plan. If there are occasions, or situations or circumstances where new taxes are being introduced, the position in the industry with its financial model is they are pre-selling a year in advance.” Mr Maura said such a grace, or adjustment, period of giving the cruise industry “12 months’ notice of any increase because of their situation, and having to put that increase to ticket prices having already sold a large portion of the ship” would give them a chance “to work into their system” any tax changes.

The Nassau Cruise Port’s Bahama Bay pool experience and Blue Marlin restaurant, the latter located on its western peninsula, are both in operation. The Central Bank, in its latest economic update, said some $3.2m in capital expenditure has been invested by GA Bahamas Ltd “to fund the build-out and operation of food and beverage venues at Nassau Cruise Port”. GA stands for Grupo Anderson, which operates a number of restaurants at Carnival’s $600m Celebration Key destination in Grand Bahama, plus the Bahama Bay Pool Beach Club and other Nassau Cruise Port eateries such as The Grill Hut and Shore Break. “I think their focus right now is having to build a brand,” Mr Maura said of Grupo Anderson’s investments. “These are new operations with names that are not familiar to the consumer market or visitor.

The operator needs to, and is working, to build a brand around those so that they become names in their own right. “We’re very fortunate that the volume of guests and passengers that we have coming through the port provides a solid opportunity for those vendors to make some money. Our volumes just exceed the various venues and their capacities. On a day that we have 20,000 guests, the overwhelming majority of those guests are going to experience some part of Nassau beyond the cruise port. “The operators and venues in the port have to work on their brand and value proposition to attract the customer no different than food and beverage venues outside the port. Everybody has to work for the business. There’s a lot of competition out there.”

should review and make changes to our laws. That is honourable.” The trial transcript, released last week by the North Texas court, reveals that Guy Rubin, one of the attorneys for Mr Porter, probed whether Allen Exploration had fully complied with Bahamian laws and its licence conditions. Underwater explorers first need an exploration permit to be able to search a defined licence area, but then require a recovery permit to lawfully retrieve artifacts. Mr Rubin’s questioning of Mr Allen centred on whether he had obtained the required recovery permit, and secured from the latter an admission that Allen Exploration had not reported all artifact retrievals to the AMMC prior to receiving the necessary authorisation. Mr Allen, though, maintained that Dr Minnis, who at the time oversaw the AMMC, had given him verbal permission to proceed. Mr Rubin initially questioned whether reports to the AMMC “are supposed to be truthful, aren’t they?”. He then added: “But they weren’t always truthful were they”. After Mr Allen said he was unsure “what you’re referring to”, Mr Rubin recalled pre-trial witness depositions which uncovered that “there were communications internal within Allen Exploration talking about how you didn’t want to disclose the recovery of items, which was the truth, in reports that were these exploration-required reports. Do you remember that?” Following an intervention by Mr Allen’s attorneys, Mr Rubin persisted: “I’m just asking you: You’re aware that there was internal communication within Allen Exploration talking about how to produce reports to

the AMMC that did not disclose recovery because of the risk that it posed that you would never get the recovery permit, true?” And, after Mr Allen again said he was unfamiliar with this, Mr Rubin added: “In the first deposition, we showed you many photographs during that deposition, during the exploration period - not when a recovery permit had been issued, but prior to recovery permits - where there were many, many items that came up and were being shown with joy and glee and pride in photographs, correct?” Mr Allen replied “yes” and, after Mr Rubin said “none of that activity was in a report on exploration to the AMMC, correct”, answered: “Not that I am aware.” This was seized upon by Mr Rubin, acting for Mr Porter, who said: “So all the activities about recovery that violated the exploration permit were never reported to the AMMC; is that true?” Mr Allen agreed, but with a caveat, stating: “That’s true. They were reported directly to the Prime Minister [Dr Minnis].” The Allen Exploration chief then admitted to publicly displaying artifacts before possessing the necessary recovery licence, and that this was “a violation of” the explorer’s licence terms, which mandate that no excavations occur without prior written approval. Yet Mr Allen also reiterated: “But I had permission from the Prime Minister who heads the AMMC.” Asked whether this was a written approval, Mr Allen said Dr Minnis had only a verbal go-ahead, which Mr Rubin argued was a licence violation. “It was an exception that was allowed by the Prime Minister,” Mr Allen added. Mr Rubin insisted it was “a violation

of Bahamian law, is it not”, with Mr Allen countering: “Until you get permission from the Prime Minister.” “So you had a secret permission from the Prime Minister, and then you had another secret internal to Allen Exploration between you and Mr [Preston] Paine and that was it, right?” Mr Rubin asked. “And meanwhile, there’s conversation at Allen Exploration about creating these summary reports to the AMMC and talking about how not to alert them that recoveries had been made even though you received this secret permission from the Prime Minister, correct?” Mr Allen replied: “That’s correct. When I talked to the Prime Minister, he said it was a delicate situation. He agreed with me that leaving treasure on the bottom of the ocean was not a good idea and that I was to keep them in my possession until the completion of the conservatory museum.” The Walker’s Cay owner later expanded on his meeting with Dr Minnis under questioning from his own attorney, Robert Sayles. Mr Allen recalled how he had known the ex-Killarney MP for three years before the latter became prime minister, placing the timeline in 2014, and how he had entertained the latter on his private yacht. “So I had known the Prime Minister three years prior to him becoming prime minister. We had talked about treasure, and we actually were on the West End together on my yacht. I kidded with him about how much treasure was out there, and he had trouble believing me,” Mr Allen said of Dr Minnis. Judge O’Connor, following an intervention from Mr Porter’s attorneys, asked: “What is this? So he has the Prime Minister on the yacht and they’re driving around, and your client is talking about all the gold that’s in the sea?” Mr Sayles, though, explained that the relevant meeting occurred when Mr Allen went to see Dr Minnis, and not on the yacht, and inform him that he has found “your country’s fortune is at the bottom”. Resuming his testimony, Mr Allen added: “It

took three years to get the licence, even after he was Prime Minister. We had no idea that we were gonna have such quick success. I just did not know that we were going to find these objects as quick as we did. So I immediately took some evidence of that, flew to meet with the Prime Minister, his secretary, and the Attorney General. “We had sat in his office, and I watched his eyes bugger up. He was pretty amazed that we had such early success, and he knew that we had just an exploration licence. I remember him vividly saying: ‘You need to keep them in your possession until your museum and conservation is done’, which we did. And the Government received their share of those items when we did the division.” Mr Allen said the Government received a share of the first 150 coins recovered by Allen Exploration from the sunken Spanish galleon and its licence area covering 6,000 square miles across “almost the whole northern Bahamas”. “I mean, there’s no question in my mind that, if I hadn’t bought Walker’s Cay and become a permanent resident, a non-tourist, that two prime ministers have described me as, that I would have never had a chance at retaining, you know, the primary licence,” he added. Mr Allen also admitted to concerns about the impact the election of Prime Minister Philip Davis KC to office would have on his activities given that the July 2019 exploration licence, and subsequent July 2020 recovery licence, were both awarded under the former Minnis-led FNM administration. These fears proved unfounded, although Allen Exploration’s licence area was sharply cut. “We weren’t sure what was going to happen, but I was welcomed by the new Prime Minister to come to inauguration,” he added of Mr Davis. “He was very happy with what we’ve done philanthropy-wise, and the island and the salvage effort, and he asked me to continue. “Although, he said to me, ‘Mr Allen, we’re going to have to shrink your permit size’. We did get to pick where we wanted to be, but it went from about 6,000 square miles down to about 250 square miles.”

NOTICE

NOTICE

NOTICE is hereby given that I BRESLIN BEAUBRUN of Faith Avenue, Dundas Town, Abaco, 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 2nd day of November, 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 CLAUDETTE BEAUBRUN of Faith Avenue, Dundas Town, Abaco, 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 2nd day of November, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE

NOTICE

NOTICE is hereby given that I JEAN JACKSON of #3 Kirby Court, Freeport, Grand Bahama,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 2nd day of November, 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 ROSE BRUNE LOUIS XVI of Farrington 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 26th day of October, 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 BREANDEN BORA of Key West Street , New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration /naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 26thday of October, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

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Canadian Prime Minister Carney reports progress in trade talks with Trump days before US midterms By ROB GILLIES Associated Press CANADIAN Prime Minister Mark Carney said Sunday he had a constructive conversation with U.S. President Donald Trump about a potential trade deal, with negotiators set to work toward an agreement in the coming weeks as the countries seek to resolve their bitter trade dispute just days before the U.S. midterm elections. Carney said the conversation built on recent discussions about the outlines of a deal that would create jobs, lower costs for families and protect Canada’s languages, culture and sovereignty. “Our teams will now be working in the coming weeks to deliver that outcome,” Carney wrote on social media.

The upbeat assessment marks a shift from August, when Canada walked away from negotiations after rejecting U.S. demands that Carney said threatened Canadian sovereignty, French-language protections and the auto industry. Trump responded with 50% tariffs on roughly $20 billion in Canadian goods, prompting Canadian retaliation. Carney said last week that trade talks had picked up because Washington was moving closer to Canada’s position. As recently as Wednesday, Carney said the countries were not yet in a position to reach an agreement before Tuesday’s midterm elections. The two sides have been discussing possible relief from U.S. tariffs on Canadian steel and automobiles,

PRESIDENT Donald Trump greets Canada’s Prime Minister Mark Carney during a summit to support ending the more than twoyear Israel-Hamas war in Gaza after a breakthrough ceasefire deal, Oct. 13, 2025, in Sharm El Sheikh, Egypt. Photo:Evan Vucci, Pool/AP

although no details of a potential agreement have been announced. Trump’s trade war with Canada has become an issue in Tuesday’s midterm elections, particularly in Michigan and Maine,

where crucial Senate races are taking place. Michigan Republican Senate candidate Mike Rogers has called for an end to the tariff war. Daniel Béland, a political science professor at McGill University, said recent U.S.

tariff adjustments affecting Canada showed the White House recognized the political risks of its trade war, particularly in border states. Robert Bothwell, a University of Toronto historian, said Carney’s conversation with Trump was unlikely to affect Tuesday’s elections and cautioned against reading too much into the improved tone. He compared the apparent thaw to a passing weather system bringing “5 minutes of variable sunshine. Rain later.” Trump’s trade war and repeated threats to make Canada the 51st U.S. state have pushed Carney to

reduce Canada’s dependence on its southern neighbor. Canada and the European Union launched a new alliance Friday, with Carney seeking to make Canada the bloc’s first “associate member” and double exports to countries other than the United States over the next decade. Canadian Conservative opposition leader Pierre Poilievre urged Carney on Sunday to reach a trade deal, saying Canadians could not afford to wait. “It’s time for Mr. Carney to put the big talk in the past and deliver real results,” Poilievre said.

Exit polls suggest that Yotova wins runoff to become Bulgaria’s first elected female president By VESELIN TOSHKOV Associated Press EXIT polls in Bulgaria suggest that incumbent President Iliana Yotova is the apparent winner in the country’s presidential runoff. Partial official results are expected later Sunday. Surveys by several polling organizations give Yotova about 52% of the vote. If confirmed by official results, she would become Bulgaria’s first elected female head of state. Former interim Prime Minister Andrey Gyurov, backed by reformist

pro-Western opposition parties, is said to be trailing with around 44%. The vote was the first major test for Prime Minister Rumen Radev’s Moscow-friendly Progressive Bulgaria party, which has endorsed Yotova. In April’s parliamentary vote, the party won 131 of the 240 seats in Parliament, securing an outright majority. Observers say that a victory for Yotova will keep the presidency in the hands of the governing majority. Such a concentration of power could prevent the effective maintenance

of checks and balances on policy decisions by institutions, they say. Yotova, 62, took over the presidency in January, when Radev stepped down to run for parliament, and was seeking her own elected mandate. She’s expected to continue Radev’s policy of keeping Bulgaria on its European path, while also supporting better relations with Russia and the lifting of sanctions. After casting her vote on Sunday, Yotova said that she voted for a Bulgaria that makes its own decisions and

INCUMBENT President and presidential candidate Iliana Yotova casts her vote in Sofia, Bulgaria, Sunday, Nov. 1, 2026. Photo:Bulgarian News Agency/AP maintains a strong voice on the international stage. “I voted for national consensus through dialogue, for institutions that work for citizens, for a strong state with its own foreign policy in a strong Europe,” she told reporters. The Balkan country joined NATO in 2004 and the European Union in 2007. While there is a broad consensus among the parties in parliament on the country’s pro-Western path, widespread pro-Russia sentiments based on traditional historical and cultural ties with Russia have divided society, particularly since the start of Moscow’s fullscale invasion of Ukraine. Both Yotova and Radev have called for a diplomatic solution to end the war in Ukraine but remain evasive about possible Russian involvement in drone attacks in the Black Sea region.

During a television debate between the two presidential contenders, Yotova advocated for a settlement involving both Ukraine and Russia, saying that “peace could come only through negotiations.” She also proposed a security meeting involving all six Black Sea countries to sign a moratorium on hostilities. Bulgaria’s presidency is primarily ceremonial. Although the head of state has no executive powers, and all major policies must be approved by parliament, direct election gives the president greater political authority. The president leads the armed forces and can veto legislation, signs international treaties and appoints ambassadors. Presidents in Bulgaria are elected directly for a fiveyear term and can serve no more than two terms.

What to know about the Affordable Care Act’s open enrollment period now underway By FATIMA HUSSEIN Associated Press PEOPLE heading into the Affordable Care Act open enrollment period with plans to sign up for insurance should expect a variety of changes in 2027, including higher premiums and fewer coverage options. The sign-up window for the marketplace, also known as Obamacare, starts Sunday in most states and runs through Jan. 15. Big changes to the exchange include expiring financial assistance, rising rates, potential delays in working with a broker, new restrictions on immigrants, and stricter enrollment checks. Financial help, including premium tax credits and cost-sharing reductions, is now restricted for many groups of people who were previously eligible. Across the board, healthcare experts predict less coverage and higher prices, with the average price of health insurance purchased through the marketplaces expected to rise by 13% in 2027, according to analysis of new CMS data by the healthcare research nonprofit KFF. Increases are driven by multiple factors

Cynthia Cox, a vice president and director of the ACA program at KFF, said the increase is primarily driven by rising healthcare costs, hospital market concentration, and potential factors such as the No Surprises Act, which took effect in 2022 and bans surprise billing, or the rising availability of GLP-1 drugs. The people who will be most affected by the new increases are those who do not qualify for a subsidy. "They may or may not be able to afford to continue to keep their coverage into next year," Cox said, adding that "a lot of them have already moved into bronze plans, which are the cheapest plans." A CMS fact sheet about open enrollment that was distributed Friday says "Americans using HealthCare.gov will have robust access to low-cost plans." The price of ACA insurance has skyrocketed for many people during Trump's second term after Republicans opposed extending COVID-era subsidies that had helped offset the costs of health insurance for most enrollees during Democratic President Joe Biden's administration.

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Monday, November 2, 2026, PAGE 11

Wall Street drops to its worst day since June after the sell-off for tech stocks deepens By STAN CHOE AP Business Writer A SELL-OFF for tech stocks got even worse Friday on worries that Wall Street’s frenzy around artificial-intelligence technology sent prices too high. The S&P 500 tumbled 1.8% for its worst day since June, and it closed out a third straight losing week. The weakness for technology stocks dragged the Nasdaq composite down a market-leading 2.9%, while the Dow Jones Industrial Average dropped 572 points, or 1.1%. The U.S. stock market remains only 3.1% below its all-time high, which has boosted the value of workers’ 401(k) accounts, but it’s become increasingly shaky as Tuesday’s midterm elections in the United States approach. Worries about AI in general have already become a concern for voters across political parties, and President Donald Trump has historically used the stock market’s performance as a measure of his own success. Intel’s stock led the way lower and plunged 28.6% for its worst drop since 1974. The chipmaker gave a forecast for profit in the final three months of this year that fell short of analysts’ expectations, as CEO

Lip-Bu Tan said the personal-computer industry continues to feel pressure. The drop came even though Intel reported a stronger profit for the latest quarter than analysts expected. Amazon fell 1.4% after reporting a weaker profit for the summer than analysts expected. Potentially more concerning for investors was Amazon’s reporting that it burned through $42.4 billion of cash over the prior 12 months, according to a measure called free cash flow. It spent $94.8 billion on property and equipment, primarily through investments in artificial-intelligence technology. A day earlier, Alphabet’s stock dropped more than 12% to its worst day on record and dragged the S&P 500 down after telling investors it burned through more cash during the summer than the spring. The company behind Google and YouTube cited similar, mammoth investments in AI. Worries are rising about whether all the hundreds of billions of dollars will produce enough profit and productivity to make the investment worth it. At the same time, stocks of computer chip companies and other winners from

the frenzy to build AI data centers have come under pressure on concerns that high interest rates may slow the further build out of data centers. “We’re moving out of the hopes and dreams phase of the AI trade and into the ‘show me’ phase,” said Joe Tigay, portfolio manager at Equity Armor Investments, in a note to investors. A drop of 4.2% for Nvidia, the chip company that became the poster child of the AI frenzy, was the heaviest force pulling the S&P 500 downward, outweighing even Intel. In the cryptocurrency industry, meanwhile, stocks tumbled following a hack on the world’s biggest crypto exchange. The price of bitcoin fell below $77,000 from more than $86,000 earlier this month, and a U.S.-based blockchain intelligence firm said a North Korean unit was likely behind the attack that impacted more than $6 billion worth of crypto at Binance. Coinbase Global fell 10.6% even though it reported stronger results for the latest quarter than analysts expected. Strategy, which says it owns about 4% of the total supply of bitcoin, fell 7.8%. It also reported a stronger profit

TRADER MICHAEL CAPOLINO, left, and Specialist Thomas McArdle work on the floor of the New York Stock Exchange, Monday, Jan. 26, 2026. Photo:Richard Drew/AP

for the latest quarter than analysts expected, while saying its chief financial officer will resign next week for personal reasons. Outside of tech, stocks were more resilient as many rallied after reporting stronger profits for the summer than analysts expected. Nearly as many stocks rose within the S&P 500 index as fell. ExxonMobil climbed 2.2%, and Chevron added 1.8% after the oil giants reported stronger profit for the summer than analysts expected. Mondelez International rose 3.9% after the company behind Oreo cookies and Ritz crackers reported stronger-than-expected growth. Colgate-Palmolive climbed 2.3% after higher prices for its products around much of the world helped it deliver better

revenue and profit than analysts expected. Expectations are high for U.S. companies’ ability to make bigger profits, even though people around the world are feeling discouraged about high inflation and high fuel prices. Such expectations are what drove the S&P 500 to its record earlier this month. All told, the S&P 500 fell 140.32 points to 7,580.07. The Dow Jones Industrial Average dropped 572.25 to 51,770.31, and the Nasdaq composite sank 747.73 to 25,437.00. In the bond market, Treasury yields eased in a signal that investors were buying U.S. government bonds in search of something safer to own. The yield on the 10-year Treasury fell to 4.93% from 4.98% late Thursday and from more than 5.30% earlier in the month.

Treasury yields fell even though oil prices bounced higher, something that usually drives yields upward because it worsens inflation. The price for a barrel of Brent crude oil rose 2.4% to $113.43. It’s near the high end of its range since the war with Iran sent oil prices and inflation higher. In stock markets abroad, indexes were mixed in Europe following sharper swings in Asia. South Korea’s Kospi dropped 3.5% as worries about AI hit its tech-heavy market, while the Hang Seng in Hong Kong climbed 1.5%. Japan’s Nikkei 225 fell 2.1% after the Bank of Japan decided to keep interest rates steady, echoing moves made earlier in the week by the Federal Reserve and the European Central Bank.

PAGE 12, Monday, November 2, 2026

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Civilians in Ukraine’s Kherson prepare for the return of war as localized ceasefire ends By HANNA ARHIROVA and VOLODYMYR YURCHUK Associated Press OLEH TARABAKA, head of the Nova Kakhovka military administration, left, and Vadym, a Ukrainian sergeant of the 42nd Marine Brigade, right, help evacuate Antonina, a local resident, as they walk past a destroyed residential building in an area contaminated with anti-personnel mines, during a localized ceasefire linked to a humanitarian aid mission to Oleshky, in the village of Kozatske, Kherson region, Ukraine, Saturday, Oct. 31, 2026. Photo:Evgeniy Maloletka/AP

CIVILIANS in Ukraine’s southeastern Kherson region prepared Sunday for the end of a localized ceasefire that has marked the most significant truce between Kyiv and Moscow since Russia’s full-scale invasion of Ukraine began nearly five years ago. The White House said that U.S. first lady Melania Trump helped to broker the limited truce, which began early Tuesday and is expected to end Sunday evening. The pause in hostilities allowed besieged residents in the front-line city of Oleshky to be evacuated in a rare joint operation that ended Saturday. “The ceasefire across Oleshky and the surrounding Kherson region has provided residents with the freedom to move, access to food, clean water, medicine, plus a renewed sense of dignity without the constant threat of attack,” Trump said on social media. “Let Oleshky become the starting point for lasting peace.” An estimated 2,000 civilians were in Oleshky when the temporary truce took hold. They were offered the choice of evacuating to territory controlled by Ukraine or Russia, or remaining in the city with replenished food and medical supplies. For the safety of those who have stayed, exact numbers weren’t released after the evacuation. At the Ukrainian border Saturday, family members waited for a glimpse of their loved ones, while residents of nearby villages lined the highway waving flags and flashlights to greet the humanitarian convoy. But Moscow and Kyiv have continued aerial strikes elsewhere, with Ukrainian President Volodymyr Zelenskyy saying Sunday that Russia continues to target Ukraine’s energy systems before winter. Hundreds of thousands of families were left without power overnight as Moscow sought to exploit Ukraine’s shortage of air defenses, Zelenskyy said in a post on social media. “The intensity of the strikes is extremely high, and the Russians are trying to take maximum advantage of the shortage of ballistic missile interceptors,” he said in a post on X. Final day of ceasefire brings some respite Residents in the Ukrainian city of Kherson remained calm Sunday, despite knowing that the quiet of the localized ceasefire would soon end. “Don’t be afraid, keep holding on,” Oleksandr Knyha, head of the Mykola Kulish Kherson Regional Academic Music and Drama Theater, told the audience as he opened a concert. The theater performs every Saturday and Sunday. This weekend’s shows fell during the ceasefire, but the company plans to perform next weekend as usual, even as local officials warn that Russian forces have brought in more weapons and personnel and some residents expect shelling to intensify. “Of course, we want peace to finally come,” Knyha said. But “we’ve been working on the front line for four years,” he added, referring to Kherson itself, and the theater has never canceled a performance. “Whatever happens, the show is not canceled,” he said. The company now performs in a basement and is equipping an additional

bomb shelter. About 100 of the theater’s 120 staff members work in Kherson, and none has evacuated. Costume maker Alla Vasylenko, 58, said that the silence of the brief truce still frightens her. “Nothing will change,” she said. “Everything will go back to how it was before the ceasefire, because believing the Russians means not believing yourself.” Vasylenko has no plans to leave. “I have 10 dogs, so I can’t leave,” she said. “They urge us to leave, but you need somewhere to go and the means to get there.” The trip alone would cost 30,000 to 50,000 hryvnias ($650 to $1,080), a significant sum for her, she said. “Until we liberate the left bank, we have no certainty this will end,” Vasylenko said, referring to the Russia-occupied part of the region. For many in Kherson, a city that itself lived through Russian occupation, that belief is the reason they stay. Knyha is from Oleshky, on the occupied left bank, and used to commute from there to work in Kherson. He hasn’t given up hope of returning home. “That’s also what keeps me here,” he said. On the last day of the ceasefire, the theater staged a concert built around a “musical map of Ukraine,” with songs from the Crimean Peninsula, which Russia annexed from Ukraine in 2014, to the Carpathian mountains in Ukraine’s southwest. “This is also our job — to unite people and give them hope,” Knyha said. Russian drone attack kills 3 Elsewhere, a Russian attack killed three people, including a 13-year-old girl, in the Ukrainian region of Vinnytsia when a drone hit the grounds of a vocational school, Ukraine’s State Emergency Service said. Four others were wounded, including two 5-year-old girls and a 16-year-old boy. Russian drone attacks also continued to target Ukraine’s Kyiv region for a second consecutive day, wounding a woman and damaging homes, energy infrastructure and a retail establishment, regional authorities said. In its daily report Sunday, Ukraine’s air force said that Moscow’s forces attacked Ukraine with 433 drones overnight, of which 371 were destroyed or suppressed. Elsewhere, more than 100 Ukrainian drones were shot down over the skies of Russia’s Nizhny Novgorod region east of Moscow, local Gov. Gleb Nikitin said Sunday. Nikitin said an industrial building in the town of Kstovo had sustained “significant damage,” but didn’t give further details. Russian media outlets later reported that the attack sparked a blaze at the Kstovo oil refinery, sharing images of black plumes of smoke over the horizon. Local officials later placed limits on gasoline sales in the region after lines appeared at gas stations, Russian media outlets reported, citing Nizhny Novgorod’s regional government. Diesel sales weren’t affected, they said. Zelenskyy said Sunday that Kyiv had also struck a factory used to make missile components and air defense facilities inside Russia’s southern Rostov region. “We are justly defending ourselves against Russian aggression and doing everything to reduce Russia’s capability to continue it,” Zelenskyy wrote.