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Wednesday, January 7, 2026
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Super Value’s ‘meaty’ Xmas ‘Pure frustration’ over rogue driver as ham/turkey sales up 31% crackdown mode and • Supermarket chain says total inwerecelebratory willing to spend to get what they wanted.” festive sales surge 17% The Super Value president attributed the • CBS Bahamas reveals 9% higher-than-expected turkey demand to bulk December sales increase corporate purchases by seeking to offer • Merchants brace for consumer companies them as part of Christmas bonuses or gifts to spending ‘hangover’ employees. However,
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
SUPER Value enjoyed a “meaty” Christmas due to a 31 percent year-over-year increase in ham and turkey sales, it was revealed yesterday, as Bahamian consumers shrugged off cost of living pressures and pricing woes to meet their festive needs. Debra Symonette, the 13-store supermarket chain’s president, told Tribune Business yesterday that total sales for the holiday period rose by 17 percent compared to 2024 to “definitely exceed” its own internal forecasts of a 5-10 percent Christmas surge. Despite shoppers “complaining throughout the year about the economy and prices”, she asserted that “the Christmas season just seems to make people shop, shop, shop until they drop” with Super Value forced to order an extra “container or two” of turkeys as demand outstripped supply. “It was very good generally. Better than we had expected. We had no complaints,” Ms Symonette told this newspaper. “Overall sales were actually up 17 percent, but the
meat category was up by 31 percent. We did have to get more turkeys because the demand was really high, but we were able to meet the demand. “People shopped. The Christmas season just seems to make people shop, shop, shop until they drop. People were saying ‘Oh, this is an inflationary time and people probably won’t spend as much’. That was not the case. Everybody just did what they had to do to get what they wanted. That’s how it goes.” Ms Symonette said that, besides turkeys, Super Value did not have to place any extra orders with produce suppliers to meet the Christmas and New Year’s demand. “I would say that everything else went well,” she added. “We didn’t have to order any more. We were able to anticipate the
demand for the others like hams and stuffing. We had it pretty figured out. “I think we bought a container or two more of turkey. It was probably over 100 and some cases. It was quite a bit. Overall, we were up about 17 percent; that definitely exceeded what we had expected. All throughout the year people were complaining about the economy and all that and the prices, but we still managed to do better than expected. “They [consumers] somehow find it during Christmas and we did make an effort to put Christmas items on special. Certain items we offered at a better price than normal, and turkeys and hams we were able to secure at a better price as well. Despite the cries about inflation, people were still
the supermarket chain in common with most other Bahamian retailers is now bracing for the typical January drop-off in spending as consumers recover from their festive spending binges and repay credit cards and other debt. “That’s how it goes,” Ms Symonette told Tribune Business. “That’s correct. There’s always a drop-off in January because they have to take their time and build themselves back up. Probably in February; in mid-February to the beginning of March we should see a pick-up again.” As for Super Value’s overall 2026 prospects, she added: “We may experience a bit of a sales increase, but I don’t expect it to be that big. I wouldn’t think any more than 5 percent or so. After the Christmas rush there’s the
HOLIDAYS - See Page B2
• Portal to detect uninsured motorists in ‘real time’ delayed • BIA chief says MoU to govern access, use under ‘review’ • Brokers raise concern over Road Traffic Act requirements BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMIAN insurers were yesterday said to be suffering “pure frustration” over the delayed launch of an online portal that would enable the Royal Bahamas Police Force and road traffic authorities to detect the estimated 30-40 percent of vehicles thought to be uninsured in “real time”. Anton Saunders, RoyalStar Assurance’s managing director, told Tribune Business that the portal’s launch will enable police officers to potentially scan car licence plates and inspection certificates to instantly determine whether a vehicle is properly registered, inspected and insured. With other industry executives branding the level of injuries and uncompensated losses from accidents caused by uninsured drivers
as “scandalous”, he added that the portal’s development - coupled with proper, consistent enforcement by the police and Road Traffic Department - is critical to resolving the “big problem” of rogue road users in The Bahamas. “For the frustration we are going through, we all talk on the way forward for how we deal with Road Traffic, the police, the agents and ourselves,” Mr Saunders told this newspaper. “There was supposed to be a portal for the registration and cancellation of vehicles and policies, and for the police to scan and everything, but everything has been delayed. “This is being held up, but not by the BIA (Bahamas Insurance Association). There’s frustration. This is the issue we have in this country. People put things
COVERAGE - See Page B6
$179m Arawak Sarkis triumphs over ‘deceit’ Cay plant to boost claims on 333-acre project cruise ship calls By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE $179m liquefied natural gas (LNG) fuelled power plant that will supply docked cruise ships with cleaner energy from Arawak Cay will not impact nearby tourist destinations such as the ‘Fish Fry’ and Junkanoo Beach, its top executive pledged yesterday. Errol Farquharson, Island Power Producers’ chief executive, said construction and operation power plant and its LNG storage facilities could even help boost the tourism sector by attracting more cruise lines and ships to call at Nassau because of the promise that their in-port emissions will be reduced. Speaking after the public consultation on the project’s Environmental Impact Assessment (EIA), which the Department of Environmental Planning and Protection (DEPP) held last night, Mr Farquharson said helping cruise ships meet strict emissions targets will encourage more calls on Nassau while turning the port into a greener, more attractive destination. “The construction and operation of this plant won’t impact tourism. In fact, it could encourage cruise ships to call at Nassau’s port more often. This project will help them meet the emissions targets they’ve set for 2050, and by providing shore power from LNG systems we’ll help them reach those goals, making Nassau port a more desirable stop,” said Mr Farquharson. He said construction of the LNG plant is expected to take approximately 12 to 13 months from start to full operation. Once operational, the plant is expected to employ between 40 and 50 full-time staff in various operational and maintenance roles. “Presently, the site where we’re going to build this plant is undeveloped. We’ll be developing it with new infrastructure, buildings and a new plant,” said Mr Farquharson. “In the long-term, it will employ about 40 to 50 full-time operational staff once we start operations in about a year. So, in that sense, we’ll be developing the area more than it is now, making it more built for use and purpose.” Mr Farquharson said a key part of the project involves laying a submarine cable between Arawak Cay and Nassau Cruise Port to carry the energy generated by the plant. This will take around
CONSULT - See Page B2
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Chief Justice has dismissed claims of “deceit, fraudulent misrepresentation and breach of confidence” that were levelled against Baha Mar’s original developer in relation to a separate 333-acre mixed-use development he was planning at Clifton Bay. Sir Ian Winder, in a January 5, 2026, verdict ruled that he preferred Sarkis Izmirlian’s evidence to the “embellishment” of Federico Riege, a Bahamas permanent resident and former managing director at Julius Baer, over the acrimonious legal battle triggered by their potential partnership in The Preserve project, which was to
be located in southwestern New Providence near Jaws Beach. The judgment, which is largely a triumph for Mr Izmirlian since the Supreme Court only awarded Mr Riege some $96,537 as compensation for his work on the project, reveals that The Preserve site was acquired from the estate of the late Baroness Nancy Oakes, daughter of Sir Harry Oakes, the Canadian gold mining tycoon and the then-British Empire’s richest man, whose summer 1943 murder rocked The Bahamas. The dispute between Mr Izmirlian and Mr Riege largely revolved around whether the former had agreed to give the ex-Julius Baer manager a 10 percent ownership interest in the land comprising the
SARKIS IZMIRLIAN
SIR IAN WINDER
333-acre Preserve site or if this was supposed to be a share of the development’s profits. Sir Ian and the Supreme Court found it was the latter. Mr Riege, an Argentine national, alleged that The Preserve was his “original idea” that he conceived “from his passion for, and knowledge of, equestrian activities, polo in particular, and his extensive
network of contacts in the international equestrian/polo community. “The plaintiff’s vision for the project was to create a destination with a focus on equestrian activities, particularly polo, and incorporating other features such as residential real estate investment opportunities
BATTLE - See Page B4
Bahamas exports face up to $49m Trump tariffs impact By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net DONALD Trump’s proposed 10 percent tariffs could have a near-$50m impact on key Bahamian crawfish and salt exports to the US if they are fully enforced, the Inter-American Development Bank (IDB) has warned. The multilateral lender, in its latest Caribbean quarterly economic bulletin that was released over the Christmas period, said The Bahamas’ exports of these two commodities to the US generated an annual average value of $52.7m between 2021 and 2023 - making them key sources of foreign currency for this nation. Acknowledging that the Bahamian economy has so far displayed “resilience” to the shocks generated by the US president’s trade and tariff policies, the latter involving new and increased taxes being imposed on all imports, the IDB said the effect on this nation’s main industry - tourism - from the resulting uncertainty and increased American consumer costs has so far been less than expected. “The Bahamian economy has so far shown resilience to tariff hikes by the US. This is largely
attributable to transitory factors such as the front-loading of trade and investment strategies coupled with inventory management,” the IDB said referring to an International Monetary Fund (IMF) study. “Still, the main channels through which US trade policies could impact The Bahamas are the possibility of a US or global recession or sharp deceleration, which could reduce tourist visits to The Bahamas, and higher inflation expectations in the US which could contribute to worsening consumer confidence. “If inflation does rise, it could pass through to higher import prices in The Bahamas and, through a reduction in US consumer purchasing power, reduce travel to The Bahamas.” This nation, as an import-dependent country that brings in virtually all it consumes, is especially vulnerable to Mr Trump’s tariff policies - a situation that is made worse by the fact The Bahamas sourced an average of more than 80 percent of its imports from the US between 2019 and 2023. However, the IDB added: “The expected ‘tariff shock’ has been smaller than what had been anticipated, particularly on tourism.
TRADE - See Page B3