By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Government has moved to compulsorily purchase Freeport’s International Bazaar property despite the majority of its 13 owners having already agreed to the sales price and terms sought by the Davis administration. Tribune Business can reveal that the property’s owners were blindsided by yesterday’s publication of a full-page advertisement detailing the Government’s plans to use its powers under the Acquisition of Land Act to compel the Bazaar’s sale because the 11.541-acre site “is needed for a public purpose” - the construction of the much-touted African-Caribbean Marketplace.
The Davis administration has acted despite “98 percent” of the Bazaar’s owners, who include the likes of the Bahamas Hotel, Catering and Allied Workers Union, John Bull and the
Investors joining Bahamian law firm as $2m dispute defendants
BY NEIL HARTNELL Tribune Business Editor
nhartnell@tribunemedia.net
A BAHAMIAN law firm has persuaded the Supreme Court to add two foreign investors as co-defendants in its ongoing $2m dispute with one of the principals behind the proposed Long Island cruise port.
Justice Cheryl Bazard, in a February 13, 2026, verdict agreed with arguments by King & Company that Steven Harrington, a member of the ownership group for Exuma’s Peace & Plenty resort, as well as Eric Kim, who was involved in a recent move to take over management at the February Point development on the same island, be added as defendants alongside the law firm to the claim launched by Sherif Assal.
The latter, who is one of the principals leading the Calypso Cove cruise port project on Long Island, is demanding that King & Co refund $2m that he sent for a separate Exuma-based investment deal which never materialised. This was for a “proposed development” on Elizabeth Island that was being spearheaded by Messrs Harrington and Kim, who were two of the Bahamian law firm’s clients.
Mr Assal only initiated legal action against King & Co, and the law firm and its attorney, Raynard Rigby KC, successfully invoked the Supreme Court’s civil procedure rules to argue that Mr Harrington and Mr Kim should be joined in the action as named defendants because they played the key role in the transaction and know “the central facts concerning the use of the funds”. King & Co’s position is that it only acted as an escrow agent and facilitator taking instructions from its two foregn investor clients.
“The substantive action arises from a dispute concerning the claimant/ respondent's [Mr Assal] transfer of $2m to the defendant/applicant [King & Co] in June 2021,” Justice Bazard recalled.
Using compulsory powers to acquire 11.5-acre site
Seemingly lost patience with the minority hold-outs
House to debate guarantee for Marketplace’s $1.86m
Chee-A-Tow family, agreeing to what is understood to be a $1.5m purchase price and the accompanying sale terms and conditions. It appears that it could not wait for the few remaining hold-outs to fall into line given the potential hold-up to its Marketplace plans with a general election looming.
And the move coincides with the tabling of a Parliamentary resolution, yet to be debated by either house, to approve the Government guaranteeing a $1.86m loan from the Africa Export-Import Bank to finance the Marketplace’s development. The borrower is named as ACMLC Grand Bahama Ltd, a private company incorporated under the Companies Act, which is 100 percent owned by the Government.
Darrin Woods, president of the hotel union, which owns 22 percent of the Bazaar, told Tribune Business he was unaware of the Government’s move to compulsorily acquire the Bazaar property and arcade until informed about it by this newspaper. He, too, suggested it signalled that the Davis administration has run out of patience with the few outstanding dissenters who
Realtor eyes 1015% growth after ‘inundated’ 2026 start
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A BAHAMIAN realtor is forecasting up to a 10-15 percent increase in business for 2026 if the market maintains early-year momentum that has resulted in his firm being “inundated” with calls and inquiries from wealthy international buyers.
Ryan Knowles, founder and chief executive of Maison Bahamas, told Tribune Business that the volume of prospective buyer inquiries over the 90-day period that encompasses year-end 2025 and early 2026 is “up substantially” over the same period in 2024-2025. He added that this nation is also attracting a “high calibre” of purchaser, as his firm works with investors who have properties under contract in developments
such as Ocean Club Estates, Palm Cay and Aqualina.
“Last year was a good year for real estate,” he told this newspaper. “I think it could have been a great year but some of the policy changes in the US kind of cooled things off a bit. There was a lot of momentum going into 2025 and the early part of the year, and a lot of positive sentiment that people had regarding some of the policies that might have been implemented.
“But the [Trump] tariffs happened, and kind of spooked people for a while.
The tariffs had a bit of a chilling effect on the market, but we’re certainly passed that. Generally speaking, it turned out to be much ado about nothing and that is now kind of locked in. The stock market was strong in the latter part of 2025.”
Turning to the current year, Mr Knowles said: “We’ve been tracking the past 90 to 120 days, and inquiries are up substantially over the same time in 2024-2025. Christmas has gone, and we’re in the sixth to seventh week of the year, and offers and inquiries are off to an unbelievable start. If that’s some indication of what’s to come, we’re on track for a record year in 2026.
“It’s the traditional peak season in real estate, which starts around Thanksgiving. As it gets colder up north, prospective buyers and affluent visitors look to come to warm weather destinations
SpaceX is urged to promote landings for tourism take-off
BY ANNELIA NIXON Tribune Business Reporter
anixon@tribunemedia.net
SPACEX was yesterday urged to better promote its booster rocket landings so that space tourism in The Bahamas can take off. With Elon Musk’s venture preparing to resume Falcon 9 rocket landings near Exuma today, following approval from the Civil
Aviation Authority of The Bahamas (CAAB), Ray Lightbourn, principal of Exuma Water Sports, said he is willing to conduct boat tours of the landing sites but not enough advertising is put into the event. He added: “The last time they landed so far that it really wasn't worth doing it. It's hard to find where they land. And so if you don't know where they’re landing exactly, then you
can't take anybody. They don't like to advertise it for some reason.
“I would do it, but from the first time they weren't telling people exactly where it was, so the only people that saw it were the people that happened to be right in the area. So I can't really take people until they give us exactly where they landed. I don't know why it was the big secret in the first place.”
Mr Lightbourn said if SpaceX is only planning to have a few landings per year, it will not help drive The Bahamas’ entry into the space tourism sector. He added that tourists will also need to be advised well in advance when landings are happening. This, he said, would allow tour operators to open up booking availabilities for customers, especially those who secure tours years in advance.
“If they just have two or three rockets a year, that’s not going to be much,” Mr Lightbourn said. “And
BY NEIL HARTNELL Tribune Business Editor nhartnell@ tribunemedia.net
THE Opposition’s leader yesterday urged the Government to release the “business case” for the proposed Afro-Caribbean Marketplace while accusing it of misleading Bahamians about the progress made in acquiring Freeport’s International Bazaar.
Michael Pintard, speaking after the Davis administration revealed it plans to use its legal powers to compulsorily acquire the Bazaar site, told Tribune Business he also found it “mind boggling” and “bizarre” that it is seeking Parliament’s approval for the Government to guarantee borrowing “a mere $1.86m” from an African development bank to finance the Marketplace’s development.
Confirming that the resolution to guarantee the Africa Export-Import Bank loan is due to be debated in the House of Assembly today, he argued that it was likely a “tidying up” move by the Government to ensure it complies with all necessary legal requirements for funds that have already been used.
And Mr Pintard told this newspaper that the compulsory acquisition of the Bazaar property “raises even more questions” as he asserted it shows the Government has not made as much progress in purchasing the property as it had led Bahamians to previously believe.
There were suggestions yesterday that the use of the Acquisition of Land Act signals the Government has run out of patience with the minority of Bazaar owners who have yet to accept a sale on its price and terms - the majority of the 13, or “98 percent”, having agreed to
MICHAEL PINTARD
RYAN KNOWLES
DARRIN WOODS
PM: Golden Yolk start ‘better late than never’
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE PRIME Minister yesterday dismissed concerns over delays to the Government’s egg production Golden Yolk programme, insisting the initiative is now “off the ground” and forecasting that produce will be available by the end of April.
Speaking during a tour of agricultural facilities, Philip Davis KC said the project has faced setbacks but is now nearing completion with chicken houses almost ready and production expected to ramp up in the coming weeks.
“Well, it’s off the ground.
I guess the scrutiny is because of some of the delays we encountered in getting it to where it is. My grandparents always taught
PHILIP DAVIS KC
me it’s better late than never, and we don’t have a never here,” said Mr Davis.
“As you can see, the houses are just about ready
and complete. I’m advised that we should have eggs on the shelves by the end of April. We are expecting the chickens at the end of
‘Forensic analysis’ underway on PHA’s
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
A CABINET minister yesterday confirmed that December overtime payments owed to Princess Margaret Hospital (PMH) nurses and others working in Public Hospitals Authority (PHA) facilities have been paid while attributed the delay to a technical budgeting issue that is now under forensic analysis.
Dr Michael Darville, minister of health and wellness, said some budget line items had been depleted without being flagged in time, prompting what he described as a forensic analysis to determine exactly what occurred and why
overtime pay woe
corrective action was not taken sooner.
“I’m still getting into the nuts and bolts of what went wrong, and so we’re looking at some forensic analysis, because every ministry has line items that are depleted, and it’s important for the finance officers to red flag and say, ‘Hey, we have a problem here.’ It’s always normal for you to go into your budget, make some adjustments, and when that’s not available, go to [Ministry of] Finance on an emergency basis,” said Dr Darville He maintained that there was “never any intention” to withhold overtime compensation and described the matter as “water under the bridge” now. Dr Darville
Judge adds duo for ‘judicial efficiency’
BATTLE - from page B1
“The claimant/respondent alleges that the transfer was made in anticipation of acquiring a beneficial interest in Exumar LIC, a Florida entity associated with the ownership of land on Elizabeth Island, Exuma, held through Exuma Elizabeth Ltd.
“The defendant/applicant denies liability and maintains it acted solely on the instructions of its client, Steven Harrington, and that Exumar LLC is legally owned by Steven Harrington and Eric Kim. It further denies involvement in an investment arrangement between the claimant/respondent and Messrs Harrington and
Kim, maintaining that it understood the funds were required to facilitate an urgent, time-sensitive property closing.” Mr Rigby, on King & Co’s behalf, argued that joining the two foreign investors as defendants was “necessary for the proper and just determination of the issues in dispute”. The Bahamian law firm’s position was that Mr Assal’s claim for the return of the $2m “cannot be fairly adjudicated in the absence of those who allegedly arranged the transaction, benefited from the property acquisition and can speak to the central facts concerning the use of the funds”.
King & Co, in evidence placed before the Supreme
added that under a new digital IT system being implemented across government, ministries will receive advance notice when budget line items are nearing depletion, allowing adjustments to be made before payments are disrupted.
“It’s unfortunate. I didn’t say much about it because it was a technical glitch, and we worked it out very quickly. But the reality is what happened, happened, and I assure you that under this new system and our digital IT programme, many of us will know way in advance when a line item is about to be depleted and act on it,” said Dr Darville.
“I do it every day in my ministry. The PHA does
Court, asserted that it received $385,074 in two separate amounts - $50,037 and $335,037 - on the same day, June 4, 2019, from Mr Harrington. A further $1 was paid to the law firm on May 26, 2021, by the Exuma Fund LLC as a further sum earmarked for the Elizabeth Island purchase price.
“On or about 8 June, 2021, [King & Co] was informed by Eric Kim that it will receive the sum of $2m in two separate amounts, $1.5m and $500,000, from the claimant [Mr Assal] to complete aforesaid land purchase for a time of the essence closing that same day,” King & Co added.
“The wire instruction received by the defendant from the claimant’s bank had the following designation/notation: ‘Elizabeth Island closing’. That led the defendant to reasonably believe that the said sum was for the closing as indicated by Steven Harrington.
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April, with 10,000 birds to be placed.
“They are very prolific, so we expect to produce about 8,000 eggs per day. The chickens are already in the country and have gone through what we call a vaccination and pruning programme to ensure they are free from pathogens and disease,” Mr Davis added.
“The packaging, which the minister of agriculture has developed with a new logo, will be biodegradable cardboard. It represents what we call organic free production. We won’t be using poly-18 hard plastic. Instead, it will be a brown cardboard box.
“We also have wood shavings on the ground, along with the operating systems - the feeders and drinkers - and what we call a climate-controlled house to maintain bird health. In
terms of disease, the housing system is designed to be resilient.”
Justin Taylor, animal consultant for the Golden Yolk Programme, said 10,000 chickens have already been brought into The Bahamas and are undergoing final preparations ahead of full production with output projected at approximately 8,000 eggs per day once operations are fully underway. He said the birds have completed a vaccination programme to ensure they are free from pathogens and disease, and the facility is equipped with climate-controlled housing, feeders and drinkers designed to safeguard bird health and maintain consistent production standards.
The Golden Yolk programme was launched in February 2023 with the
it. Something happened - that’s water under the bridge - but there was never any intention not to pay people what they deserve.”
“The defendant paid the balance of the purchase price, which included the said sum of $2m, to Higgs & Johnson, the seller’s attorneys, and the sale of the property by Exuma Elizabeth was completed on 8 June, 2021.”
As a result, King & Co argued that Mr Harrington, Mr Kim, Exumar LLC and Exuma Elizabeth Ltd “are necessary and proper parties, as the claimant/ respondent’s case concerns an alleged investment arrangement with Harrington and Kim relating to Exumar LLC and the Elizabeth Island acquisition, rather than a contractual arrangement with the” law firm itself.
Mr Assal and his attorneys, Delaney Partners, while objecting to King & Co’s application said it did not oppose Messrs Harrington and Kim being joined as “third parties for the limited purpose of enabling the applicant to pursue contribution and/or indemnity against them”.
Justice Bazard, in her verdict, noted that the dispute stems “from the breakdown of an alleged investment transaction… involving the transfer of funds, the acquisition of property and the alleged entitlement to a beneficial interest” in the Elizabeth Island investment for Mr Assal. As a result, she found it was “desirable for all” those connected to the deal - especially Mr Harrington and Mr Kim - to be named as parties in the court case.
The PHA effectively ran out of allocated overtime funds within the first three months of the fiscal year, prompting an internal
Davis administration pitching it as a cornerstone of food security and self-sufficiency, aiming to slash The Bahamas’ food import bill by millions, boost local egg production from roughly 700,000 to an estimated 28m a year, and build dozens of climate-smart poultry houses across the islands. However, the initiative has faced mounting criticism from the Opposition and agricultural advocates over apparent delays and costs, with deputy opposition leader, Shanendon Cartwright, questioning why millions of dollars have been spent without any eggs produced and critics arguing that funding could have been better targeted to existing local farmers to expand capacity.
memo that all overtime required prior approval from the managing director’s office to be processed. The resulting payment delays sparked heavy backlash from healthcare workers and unions, with the Bahamas Nurses Union and other union leaders urging members not to work beyond scheduled shifts until outstanding overtime was paid and describing the situation as “unacceptable” and “disrespectful”. The issue led to a sickout by some nurses which disrupted services at Princess Margaret Hospital and other facilities, forcing patients to wait longer or return home as staffing shortages worsened. Government officials later confirmed Cabinet had approved payment of the outstanding overtime funds, and said the disbursement process was underway even as unions continued to call for greater transparency and accountability.
“Such limited joinder would require the court to decide key factual and proprietary issues relating to the substantive claim without these parties being directly involved as defendants, risking the need for separate proceedings and re-litigation of the same issues, including additional indemnity or contribution claims by the claimant/ respondent,” she found.
“This would lead to fragmentation, and would not make effective use of judicial time. I do not agree that this approach is adequate; it would leave unresolved related issues of indemnity, contribution and authorisation, possibly resulting in further litigation and inconsistent outcomes. To ensure justice and judicial efficiency, these issues should be fully addressed in a single proceeding.”
While substantial work on the Calypso Cove project has yet to start, this newspaper has been told it continues to draw interest from the cruise lines. Mr Assal is a provider of security services to the global cruise industry for 22 years. He is alleging that he was offered a 30 percent interest in the Elizabeth Island project, which was to feature a mixed-use resort development over 33.1 acres at its western end, by Mr Harrington and Mr Kim in return for a $3m investment in a property valued at $10m. Two-thirds of that sum was purportedly paid through King & Co, but Mr Assal is claiming that the transaction involving his investment was never properly consummated and completed, and that he never agreed his $3m “would be used to purchase” the 33.1-acre site on August 4, 2021.
“Messrs Harrington and Kim are essential parties to the transaction and can assist the court in determining the critical issues, including the authorisation of the transfer, the capacity in which the defendant/ applicant acted, and the ultimate beneficiary of the funds. Their inclusion will enable the court to resolve all issues arising from a single, common transaction and avoid the risk of fragmented or duplicate proceedings,” Justice Bazard added, finding this would not be satisfied by including the duo as “third parties”.
He is alleging that it is “unconscionable” for the Bahamian law firm to have either retained his monies or allowed its clients to finance their Exumas real estate purchase “without my permission or knowledge in the circumstances” where he has no confirmed equity ownership or other interest in the deal.
Mr Assal’s action is also asserting that King & Co breached the Financial Transactions Reporting Act by “failing to obtain” the required Know Your Customer (KYC) information on him prior to accepting the $2m that he wired to it.
However, Paul King, King & Co’s principal, in previous e-mailed replies to Tribune Business, denied his firm had violated the Financial Transactions Reporting Act’s (FTRA) customer due diligence requirements or any other Bahamian law. He branded the allegations, and legal claim, as “total nonsense” and “fabricated”, and hinted he may pursue Mr Assal for damages for “trying to besmirch” his and the company’s reputation.
“The firm and the firm’s client did not commit any violation of any Bahamian law,” Mr King told this newspaper, also defending Mr Harrington and Mr Kim.
“The matter is presently before the Supreme Court and the firm has engaged King’s Counsel (KC) to represent its interest and to vigorously defend the suit. This claim is total nonsense, lacks merit, substance and is fabricated.
“I trust that the complainant understands that by trying to besmirch the firm’s reputation [he] exposes himself to damages. I have been practicing for 27 years, and no client or third party has ever made any such scandalous accusations against myself or the firm.We will see this matter to its end, and I am confident the firm will be vindicated and this case dismissed as lacking any merit.
“However, due to the fact that the matter is before the Supreme Court we are not at liberty to disclose pertinent facts. The case cannot and will not be tried in the public domain. Any further comments on the matter will be made by our attorneys.”
DR MICHAEL DARVILLE
Activists: Is SpaceX getting ‘easy accommodation’ here?
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
ENVIRONMENTAL
activists yesterday challenged whether SpaceX has found “easy accommodation from the powers that be” in The Bahamas as they suggested this nation may be offering too smooth a path for the resumption of Falcon 9 booster landings in its waters.
Joe Darville, chair of Waterkeepers Bahamas and Save the Bays, said he remains “very apprehensive” about the landings being approved to resume as residents were given little advance notice.
Speaking to Tribune Business, he warned that any malfunction or explosion could pose serious risks to The Bahamas’ ocean-dependent economy and limited land mass, particularly given its reliance on tourism, maritime activity
and fisheries for jobs and income. “As an environmentalist, I am very, very apprehensive about that. Why don’t they do it in the Gulf [of Mexico]? Why pick our territory to do it? Is it because they have easy accommodation from the powers that be in this country? I hope not,” said Mr Darville. “I maintain my reservations about any permission given to have this particular matter fly over land or explode over our territory, plain and simple.” Mr Darville also criticised what he described as the lack of adequate public notice surrounding the booster rocket landings, arguing that residents were being informed “on the eve” of the activity with little opportunity to raise concerns or seek clarity.
He added that a matter of such magnitude should be subjected to broader national consultation - and potentially a vote - rather
than approved without full public input. “Bring it to the people to vote on such a thing. This is nothing to fool around with. You cannot make decisions of this magnitude without the full contingent of the people of The Bahamas having their say,” said Mr Darville.
“This should not be decided behind closed doors or announced on the eve of a launch. The Bahamian people deserve full disclosure and a proper opportunity to weigh in. You don’t gamble with 100,000 square miles of ocean and 90 square miles of land without asking the people first.”
Mr Darville argued that space tourism is “a nonstarter” for The Bahamas, contending that the mere possibility of spacecraft explosions or falling debris could undermine the country’s reputation as a safe, pristine destination and deter visitors from travelling to its shores.
Eleuthera restaurants close for days on water disruption
BY ANNELIA NIXON Tribune Business
AN ELEUTHERA restaurant owner yesterday revealed that the island’s water supply woes forced him to close for four days.
The Tarpum Bay-based proprietor, and another restaurant owner, said hygiene in the workplace has been unachievable as that settlement and Rock Sound experienced a multi-day water interruption due to repairs at the reverse osmosis (RO) plant that supplies the area.
One said they could not use the kitchen or the bathroom during the outage, adding: “Without water, you really can't accommodate people. So when the water's off, you don't have
bathrooms. You can't use your kitchen.
“Hygiene is your most primary important situation, so you really can't cook, clean or do anything without water to accommodate people. It goes against environmental health standards. It goes against what is required as restaurants and food providers. We can't meet the requirements the Government has put on us without water and hygiene.
“The guys who work with Water and Sewerage, I'm sure they're doing what they can because they are people in our community as well. It's not a manpower issue as far as the guys that are here. It’s infrastructure issues.”
The other restaurant owner said water supply in the area had been interrupted for four days,
resulting in their restaurant having to close to the public.
“There are 365 days in a year. Last year alone, our power was off at least 110 days. That's just the power. This year, so far, water has been off. Last week it was off four days straight. I don't know what the problem is, but in those days, we had to close. We had to close our doors,” they said.
“If someone goes in your bathroom and goes number two, you can’t flush the toilet. That’s number one. You can’t clean the meat. We didn’t have water for days.”
The Water & Sewerage Corporation last Tuesday issued a notice alerting residents in Rock Sound and Tarpum Bay to expect “little too no water pressure beginning at 1.30pm” as the reverse osmosis plant
“We survive on tourism. The perception alone that spacecraft could explode or debris could fall into our waters is enough to make visitors think twice. Space tourism is a non-starter. If anything, it’s going to drive people away from The Bahamas,” said Mr Darville.
The Civil Aviation Authority of The Bahamas (CAA-B) confirmed yesterday that all necessary approvals and reviews were completed ahead of today’s planned landing.
In a statement, it said it has approved the Falcon 9 vehicle landing in co-ordination with other regulatory agencies, with all required regulatory and environmental clearances completed in accordance with established aerospace safety and operational protocols.
“The Civil Aviation Authority of The Bahamas (CAA-B) advises the public that, in co-ordination with all relevant national regulatory agencies, it has
underwent repairs. Another notice was sent out later that night, stating water would be interrupted again beginning at 10pm due to ongoing repairs.
The repairs extended into the next day as a Water & Sewerage Corporation employee updated person that Rock Sound, “due to a delay production time, has been pushed back to 2pm”. Later that evening, they informed residents hat repairs had been completed and following, the testing phase, the Corporation would need about two extra hours to build storage before distribution could begin.
The water interruption extended a further day due to “some failures”. A notice issued by the Water & Sewerage Corporation stated an additional part was being sourced and expedited for the Tarpum Bay reverse osmosis plant, while and water tankering was being co-ordinated to help impacted customers.
The Water & Sewerage Corporation on Friday
approved the planned landing of a Falcon 9 vehicle operated by SpaceX in the Exuma Sound on February 18, 2026, between 5pm and 9.30pm,” said CAA-B. “All requisite regulatory and environmental reviews and clearances have been completed in accordance with established aerospace safety and operational protocols. Residents and visitors to The Bahamas are further advised that, depending on weather and atmospheric conditions, one or more sonic booms may be heard during the landing sequence. The intensity and extent of these effects will vary based on environmental factors at the time of re-entry.
“CAA-B will continue to collaborate closely with the appropriate authorities to ensure all activities are carried out safely, and in full compliance, with applicable regulations.”
The Bahamas’ relationship with SpaceX began
issued another notice stating North Eleuthera, Harbour Island and mainland Eleuthera would experience a service disruption between 10pm and 5.30am the following day, which was “necessary to replenish depleted storage levels”,. A member of the WhatsApp group where the notice was published noted
in early 2024 when the Government signed an agreement to host Falcon 9 booster landings, potentially making the islands a world-first international destination for such events and part of a growing space tourism strategy. A Falcon 9 rocket booster successfully landed off the coast of the Exumas last February - the first SpaceX landing outside the USdrawing criticism from local environmentalist groups. The Government initially approved up to 20 additional landings subject to regulatory clearance, but further recoveries were paused while a full environmental impact assessment (EIA) and post-landing review were completed amid environmental and public consultation concerns. SpaceX had indicated it hopes to resume operations at the Exuma Sound site once all regulatory requirements are satisfied.
that some persons had not had water in days, local businesses were unable to operate and children were unable to attend school. Another member messaged: “Water is a necessity not something we want. This is hilarious.” Other members expressed their frustration with the situation and the constant water supply interruptions.
a deal. Waiting any longer on the ‘hold-outs’ to agree a deal threatens to create further delay to the muchtouted Afro-Caribbean Marketplace ahead of an imminent general election.
The Opposition’s leader, meanwhile, also demanded that the Government release the “business plan” and feasibility studies to show that the Marketplace will be a profitable investment. He argued that, while Bahamians are likely not opposed to the project or its concept, they are unaware of “what the facts are” and have no idea what the Government’s full plans are.
Calling for “a full briefing” so citizens can determine whether the development “makes sense for the future of Freeport”, Mr Pintard argued that the Marketplace was an example of “smoke and mirrors” where the Government is seeking to convince Bahamians it is undertaking projects for their advantage despite no actual benefits being felt.
The Government has previously said the Afro-Caribbean
Marketplace project, which it has promoted for more than three years, will combine all of Freeport’s advantages - US proximity, free trade zone benefits, deep water harbour, airport and transportation and logistics connectivity - to create a hub, or emporium, for products and commodities made in all the Bahamian islands, the wider Caribbean and Africa.
The Marketplace would function as bridge between Africa, the Caribbean and wider Western Hemisphere, generating trade opportunities and attracting buyers from across the continent to assess the product offerings being showcased. The resolution, due to be debated in the House of Assembly today, would approve the Government guaranteeing the $1.86m Africa Export-Import Bank loan to ACMLC Grand Bahama Ltd.
The latter is a private entity that will be 100 percent owned by the Government. While this may again revive concerns over so-called ‘off-the-books’ loans, which are kept off the Government’s balance sheet so as not to add to
‘High calibre’ of buyers sees ‘substantial’ inquiries growth
SALE - from page B1
and The Bahamas will always be one of them. As more people come to the islands and start looking around they realise it’s a great place to be from a lifestyle perspective and also a good place to invest.
“It’s typically the busiest time of year for us, but we’ve been inundated over the last several weeks by multiple calls coming in. They’re looking and buying. They’re pulling the trigger. We’re going into contract with one of those clients on a unit in Aqualina, we’re going into contract on a town home at the beach in Palm Cay, and we have one client at Ocean Club Estates buying
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, KENDRICK DAWKINS MEZIDOR of Burial Ground Corner, Nassau, Bahamas, intend to change my name to KENDRICK DAWKINS LOUIS If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.
NOTICE
NOTICE is hereby given that SHIRLEY MIZOU FELIX of #39 Farrington Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that JEAN CARNOLD DAUTRUCHE of Tropical Gardens, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
the $11.5bn-plus national
debt, the resolution says the lender has already approved the borrowing “for the development of an integrated Afro-Caribbean Marketplace on.. Grand Bahama whose overarching theme is to boost trade, investment and connectivity between Africa and the Caribbean”.
The $1.86m facility’s terms require the Government to guarantee its repayment should ACMLC default on its obligations. This, in turn, must be approved by Parliament as mandated by the Public Debt Management Act 2021. Mr Pintard confirmed this was due to be debated by the House of Assembly today.
“I can tell you we find it bizarre that the Government would be seeking to guarantee a loan for a mere $1.86m, which is mind boggling,” he added. “Why is the Government engaging in such a small loan for a particular project? We believe it must be a tidying up exercise…. much like the SDRs” or International Monetary Fund (IMF) special drawing rights where it went back to Parliament to amend the law after already obtaining them from the Central Bank of The Bahamas.
“We cannot understand the rationale for the
two properties there,” Mr Knowles added.
“It’s quite a high calibre of client coming in, which is a really positive indicator for the rest of the year. It’s a really great start. You never want to jinx these things, but we could certainly be up 10-15 percent over last year based on what I’m seeing.”
Mr Knowles said The Bahamas’ high-end, international real estate market will - in contrast to many other destinations - benefit from continued global political turbulence and economic uncertainty.
“We’re kind of a unique creature in the sense that when things threaten to fall apart globally, the more attractive we become as a destination and landing spot for wealth,” he told this newspaper.
“As these high net worth individuals think about their investment portfolios through 2026 and beyond, they’re getting to the point in many cases where they
Government borrowing such a small amount of money given the amount of money they have projected at the end of the year as a fiscal surplus [$75.5m],” Mr Pintard added. “Why not go through the correct procedures and direct the funds to make an acquisition? That’s essentially our thinking on it.
“And if they are going with a compulsory acquisition [of the Bazaar] that raises even more questions. When they last spoke on this subject in the House, they led the public to believe they were well on their way to a successful acquisition of the property, and at an advanced stage of sorting it out with all the various owners of that particular asset.
“Any mention of compulsory acquisition leads me to believe they are being disingenuous about the progress they were making on the acquisition. The Government led the public to believe what they were doing was a final acquisition. For them to go to this extent, it undermines their entire argument of progress being made for quite some time.”
Mr Pintard recalled how Ian Rolle, the Grand Bahama Port Authority’s (GBPA) president, had revealed in early 2025 that the Government had
are transitioning wealth to their children. We remain very attractive. We remain such a safe destination. Our real estate market is probably the strongest in the region. It’s a lifestyle philosophy but also a hedge against instability in other destinations.
“Some of the geopolitical changes in the US are also helping us. Canadians not fond of the changes in the US are starting to pass over Florida and come to the Caribbean, so to the extent that happens that’s a positive for The Bahamas and the market,” Mr Knowles added.
“There’s a lot of foreign direct investment (FDI) coming into projects. If we can continue that momentum, and give buyers confidence that here is a great place to invest, it’s safe, they can feel comfortable and confident spending millions of dollars on properties here.”
NOTICE
NOTICE is hereby given that GUILLAUX CLACEMA of #34 Winton Estate, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that DESMAR ALLENA OLAF YOKI WHITFIELD of High Point Mannors West, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that FERDILUS PETIT-FRERE of Bacardi Road, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that GUERMO EMILE of Midshipmen Outlaw Lane, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
then yet to supply a business and/or financial plan for the African-Caribbean Marketplace. This sparked an intervention by Ginger Moxey, minister for Grand Bahama, who argued that the GBPA was “holding up progress in its own city” by delaying the Bazaar deal over $1.5m in allegedly outstanding fees owed by its owners. She asserted that the delay centred on $1.5m in past due maintenance fees purportedly owed to the GBPA, a portion of which dated back almost 20 years to 2006. Mrs Moxey also said a feasibility study was included in a project package agreed in 2024 between the Davis administration and Africa Export-Import Bank.
“In June of last year, the Government signed a project preparation facility for development of the Afro-Caribbean Marketplace,” she said in March 2025. “The project preparation facility deals with the feasibility study, architectural renderings and all of that.”
However, Mr Pintard returned to the attack on this issue yesterday. “No one knew the details of what was being done and no one saw the business case spelling out the profitability of what was proposed,” he told Tribune Business.
“We’d like to see the business case.
“I don’t think Bahamians are opposed to what they are proposing, but they don’t know what the facts are. We don’t know what they are doing. Why not have a full briefing for the public to get on board and see if it makes sense for the future of Freeport.”
Accusing the Government of engaging in “smoke and mirrors”, Mr Pintard added: “They are giving the appearance of a lot of activities that could be beneficial to Bahamians without us seeing any particular benefits. That’s creating more questions among people about what the Government claims it is doing.”
The Government, meanwhile, has also moved to improve accessibility and transportation connectivity to the planned Afro-Caribbean Marketplace site through another compulsory land purchase - this time the 4.435-acre site that presently blocks-off West Sunrise Highway and prevents it from linking West Atlantic Drive and the Mall Drive. It had been closed off by Harcourt Developments, the Irish property developer that presently owns the Royal Oasis.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, JEFF MCCOY HANNA of South Bahamian #13 Montrose Lane Freeport, Grand Bahama, father and legal guardian of ASHLEY SARAH LOUIS intend to change my child’s name to ASHLEY SARAH HANNA. If there are any objections to this change of name by deed poll, you may write such objection to the Chief Passport Officer, P. O. Box N-3746, Nassau, The Bahamas or at deedpoll@bahamas.gov.bs no later than thirty (30) days after the date of the publication of this notice.
NOTICE
NOTICE is hereby given that CONSTANTIN MITIAL of P.O. Box N-7060, Lewis Street, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that EMANIS SAMILIS of East View Court, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 18th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
Advance site warning key for local operators
then, also, we have to know, at least a month in advance, to book it. Otherwise, we’d rather just book regular tours. Some people book two years in advance.
“So, I can’t see it being that popular now. Some
people, they get married, and they want to make sure everything’s right. Or they have plans for a family reunion, things like that.
If they had three a year, and we knew maybe four months in advance, or three months, we could probably arrange something.”
The exact location of the landings, Mr Lightbourn said, will also help tour operators determine how much to charge customers and how much fuel they would need for their boats.
“And we have to know exactly where they’re doing it so we know how much to charge people,” he said.
“Because if they’re doing it, like way up by Black Point or something, that’s going to be a lot more than if they
France’s Macron holds bilateral talks with India’s
Modi to boost economic and strategic ties
By RAJESH ROY and SYLVIE CORBET Associated Press
FRENCH President
were doing it in a Great Exuma.
“So it’s a lot of problems. What happens if they delay the launch - if they have it planned and then it’s bad weather that day, and then they have it the next day, or two days later? That messes everything up.
“The more I think about it, the more I don’t think it’ll work unless they have an exact same place every time. That’s the only way it could possibly work. But
even then, if they cancel it, then we got to refund everybody and then we lose all the gas.”
Following last year’s SpaceX landing, Kat Dubowitz, assistant general manager of Cape Eleuthera Resort and Marina, in a Tribune Business article reported that it led to a boost for the hotel, especially in the marina.
However, she shared the same sentiments as Mr Lightbourn, adding: “I don’t
think it was advertised a lot, and I don’t think people realise actually how great the viewing was going to be. But if they plan on using the same spot for their barges ,and the way that they can launch the rockets from Florida, it’s definitely something that we will advertise for future SpaceX missions with The Bahamas, obviously.”
Emmanuel Macron met with India's Prime Minster Narendra Modi on Tuesday for bilateral talks aimed at deepening economic and strategic ties as the two countries seek closer cooperation amid global uncertainty and shifting geopolitical alignments.
The meeting in India's financial capital, Mumbai, underscored the growing importance of the partnership, which has expanded from defense to trade, technology and energy, with Paris positioning itself as one of New Delhi's most reliable European partners.
NOTICE
NOTICE is hereby given that YLONIE PIERRE of Plantol Street, off East Street, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that MEAGEN SALOMON of Faith Avenue North, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that STPHEONO GODIN of Cumberbatch Alley, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that AYAAN JAGDISH SAREEN of P. O. Box N-7514, 11 Hudson Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that PAULETTE GRACE ROPER of P.O. Box N4235, Lou Adderley Estate, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
"India-France partnership knows no boundary. In today's era of uncertainties, this partnership is a force for global stability and progress," Modi said during a joint news conference with Macron. The talks came as India looks to attract foreign capital and strengthen supply chain while France seeks a stronger foothold in the Indo-Pacific and a
long-term role in India's economic and security landscape. The two leaders later virtually inaugurated a final assembly line for the production of H125 helicopters, which is joint venture involving India's Tata Advanced Systems and Airbus. The assembly line in the southern state of Karnataka is India first facility in the private sector to make helicopters. Macron said that Franco-Indian relationship was in a phase of acceleration in response to
NOTICE
NOTICE is hereby given that DIEULIFAITE ITALIEN of Pinewood Gardens, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that SIMEON LOUIS of Marsh Harbour, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that GEORGES ROYBROOK of Prince Charles Drive (Ceria Close), Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that SONIA BEDI SAREEN of P. O. Box N-7514, 11 Hudson Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
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 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
the changing international order.
"We have a special global strategic partnership, which gives new ambitions to the ties between India and France," he said.
Macron listed the space industry, nuclear energy, rare earth and critical minerals, aeronautics and high-speed trains as key sectors for partnership with India, and favored a free-trade agreement between New Delhi and the European Union. Macron also called on India to join efforts with France
toward ending Russia's war in Ukraine and invited Modi to join the Group of Seven summit in June in Evian, France. "As the ceasefire remains difficult to achieve, and I regret that, we could join our efforts to secure the establishment of an immediate and lasting moratorium on strikes against civilians and civilian infrastructure," Macron said. Modi said India would continue to advocate for peaceful resolution to the ongoing conflicts in western Asia and eastern Europe.
NOTICE
NOTICE is hereby given that BIANCA FAITH DESGRANGES of Pinewood Gardens, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that BEDJY EVARISTE of #39 Conifer Dr, Pine Bay, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 10th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that AHAAN JAGDISH SAREEN of P. O. Box N-7514, 11 Hudson Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that SHIVAN SAREEN of P. O. Box N-7514, 11 Hudson Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 11th day of February, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box
Across: Davina, Dennis, I Am, Ben, Mock, Ewen, Ash, Vat, Nest, Perm, Theresa, Use, Arabs, Nye, Shetland, Are, Grabs, Neve, REM, Wan, Acre, Ian, Heard, Ear, Lids, Going, Toe, Lay. down (left to right): Sale, Hugh, Richie, Nineties, Eta, Red, Diana, Rent, Breast, Immense, Lose, Cats, One, Sara, Midge, Spar, Nan, Kate, Andrew Neil,
Bazaar’s $1.5m deal part of broader $3m investment
have yet to agree to the deal offered.
However, the BCHAWU chief voiced hope that the union and other Bazaar owners will not suffer the fate of other real estate and land owners, whose property has been purchased by the Government using the Acquisition of Land Act, and have been forced to wait years - even decadesto be compensated for the loss of their assets.
The Government had been negotiating the now-derelict Bazaar’s purchase via a Freeport-based attorney, Chris Gouthro, who was acting on its behalf, and Mr Woods said he had learned through him that a small minority of other owners had yet to agree to the proposed deal.
“It was always an intent to sell from us,” he told Tribune Business of the union’s position. “I know from the Freeport attorney working for the Government that they were having challenges. I know he had indicated they were having some challenges coming to terms with some of
the owners; the minority owners. “I know the Government is going to do what they have to do. From our standpoint, we own 22 percent of it. We have always made clear our intent to sell and get out of that. There ain’t much happening down there. It was always difficult, especially after the hurricane [Dorian in 2019]. We pumped money in down there, and eventually made a decision to let it go.
“We couldn’t keep it up. We couldn’t get it rented out, so any monies that we put into it we were not able to recoup. That was a wise decision on behalf of our members, as everything we do has to benefit them; they have to benefit from it at the end of the day.”
Mr Woods said he recalled that the Bazaar’s acquisition and renovation would involve around a $3m investment split evenly between these two activities. “We would have had the entire thing appraised,” he added. “That figure was inclusive of the renovations they wanted to do to the property and the Royal Oasis.
“They [the Government] were pretty much able to
tell us instantly what our portion of the purchase price was based on the overall terms. It was $3m in total inclusive of the renovations of the property. The purchase was around $1.5m, and then to do the other works and stuff brought it up to $3m.”
The Government’s decision to use its compulsory purchase powers, rather than agree a deal with all 13 owners, could mean the latter endure a long wait for compensation based on Acquisition of Land Act payment history. “I hope that isn’t the case,” Mr Woods replied when reminded of this by Tribune Business. “If the Government compulsorily acquires it, they give you fair market value.
“My thing to them was: ‘Let’s move forward’. They said there were one or two owners not wanting to sell. The consensus of the majority was that we had already agreed to sell. Because it’s co-joined and co-owned everything has to be done in tandem, and you know what it’s like to have 12-13 people all agree on a decision.”
Mr Woods told this newspaper he was “surprised but
Warner Bros reopens takeover talks with Paramount after receiving a waiver from Netflix
By MICHELLE CHAPMAN and WYATTE GRANTHAM-PHILIPS AP Business Writer
WARNER Bros. Discovery is briefly reopening takeover talks with Skydance-owned Paramount to hear the company's "best and final" offer, while the Hollywood giant continues to back the studio and streaming deal it struck with Netflix.
In a Tuesday regulatory filing, Warner said it had received a waiver from Netflix to reopen talks with Paramount for the next seven days, or until Monday. Warner said this will allow the companies to discuss unresolved "deficiencies" and "clarify certain terms" of Paramount's latest bid.
But in the meantime, Warner's board is still recommending shareholders support of its proposed merger with Netflix. A special meeting is now scheduled for Friday, March 20 to hold a vote on that deal.
In a statement, Netflix said it was confident that its proposed transaction "provides superior value and certainty" — but recognized "the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY's antics." The streaming giant noted it had granted Warner a seven-day waiver to "finally resolve this matter."
Warner's leadership similarly reiterated its support for the Netflix deal.
Meanwhile, Paramount called Tuesday's actions from Warner's board "unusual" and said the company could have determined whether Paramount's offer was superior without a timed deadline. Still, Paramount said it was "nonetheless prepared to engage in good faith and constructive discussions."
Paramount added that it will continue to advance its tender offer priced at $30 per share, which it maintained was better than Netflix's proposal, while also pursuing a proxy fight.
The battle for Warner Bros. Discovery is complicated because Netflix and Paramount want different things. In December, Netflix agreed to buy Warner's studio and streaming business for $72 billion, now in an all-cash transaction that would cover its legacy TV and movie production arms, as well as HBO Max. Including debt, the enterprise value of the deal is about $83 billion, or $27.75 per share, and would be finalized after Warner completes a previously-announced separation of its cable operations. Meanwhile, unlike Netflix, Paramount wants to
acquire Warner's entire company — including networks like CNN and Discovery — and went straight to shareholders with an all-cash, $77.9 billion hostile offer just days after the Netflix deal was announced.
The enterprise value of Paramount's bid currently stands around $108 billion including debt, or $30 per share. But Warner disclosed Tuesday that a Paramount representative separately informed the company it would up its offer to $31 per share "pending engagement."
Analysts at Raymond James said they had "long believed" Paramount was willing to raise its offer "and now it seems we are finally moving in that direction." If Paramount were to up its price to $32 or $33 per share, they noted it would be "increasingly difficult to argue the Netflix agreement is superior," although Netflix could then move to match the bid. "Netflix is still in the driver's seat, but now having to make its case," the analysts added in a Tuesday research note.
Paramount has made more attempts to sweeten its offer recently. Last week, the company said it would pay Warner shareholders an added "ticking fee" if its deal doesn't go through by the end of the year — amounting to 25 cents per share, or a total of $650 million, for every quarter after Dec. 31. Paramount also pledged to fund Warner's proposed $2.8 billion breakup payout to Netflix under its merger agreement. The company has been scrambling to solidify more shareholder support. Paramount has extended its tender offer three times, with the latest deadline set for March 2. According to company disclosures, more than 42.3 million Warner shares had been "validly tendered and not withdrawn" from its hostile bid as of the start of last week, down from over 168.5 million Warner shares on Jan. 21 — still a small fraction of Warner's 2.48 billion shares outstanding in series A common stock.
But also last week, one activist investor, Ancora Holdings, publicly expressed opposition to Warner's proposed merger with Netflix. And beyond its tender offer, Paramount has also promised a proxy fight. On Tuesday, the company reiterated plans to nominate its own slate of directors at Warner's upcoming annual meeting. What, if anything, changes after the next seven days of talks has yet to be seen. Paramount, Warner and Netflix have spent the last couple of months in a heated back
not really surprised” by the Government’s compulsory acquisition bid “if the other owners are still blocking it” and there were challenges “getting everyone on the same page”. He added: “I contacted the attorney to find out where they were and he said there was no new movement yet.”
Another source familiar with developments surrounding the Bazaar, speaking on condition of anonymity, told Tribune Business that the majority of owners had agreed to the Government’s price and terms in October/November 2025 but nothing had happened subsequently until yesterday’s newspaper advertisement. Like Mr Woods, they too were taken aback by its publication.
“This is the first I’m hearing about this,” the source said. “The Government had made an offer to the owners, and I know it was accepted by 98 percent of them. I think there was only one dissenter, a foreign investor. They had said ‘no, nothing doing’, because by the time the demolition fees charged by the Port were accounted for there was not a lot left.
“I think they [the Government] possibly have
thought this was a way around it - acquire it compulsorily. Essentially, everyone had agreed on a price and we were waiting on the next phase to move the thing forward. We haven’t seen anything.”
The International Bazaar, which has steadily deteriorated ever since the Royal Oasis resort that supplied a significant proportion of its customer base closed in 2004, suffered further blows as a result of two fires that further devastated what remained of many buildings.
Ginger Moxey, minister of Grand Bahama, did not respond to Tribune Business messages seeking comment, but said of the Government’s Afro-Caribbean Marketplace plans in 2023: “Not only will the marketplace promote and distribute African and Caribbean products, but it will also offer a taste of Africa and the Caribbean, making it an appealing tourist attraction.
“In the marketplace, we envision seamless connectivity for trade between Africa and the Caribbean through the African Continental Free Trade Area (AfCFTA), with the Caribbean as the sixth region, and
the added advantage of a 230-square-mile free-trade zone offering tax concessions on Grand Bahama.” Using Grand Bahama’s proximity to the US, the marketplace would provide strategic opportunities for value-added manufacturing, transshipment, distribution and logistics. “This vision, however, goes beyond mere trade,” Mrs Moxey said.
“It represents the culmination of a world-class experience, showcasing the rich cultures of Africa and the Caribbean. The African-Caribbean Marketplace will become the home of ‘All things African and Caribbean’. It will feature a ‘Bahamas Bazaar’ representing each inhabited island of The Bahamas.
“With its conceptual design, including an amphitheatre, featuring a performance arts theatre, African and Caribbean-flavoured concessions and unique architecture reflecting the authenticity of our cultures, we aim to create a space that resonates with the spirit of Africa and the Caribbean.”
and forth over who has a stronger deal on the table.
The prospect of a Warner sale to either company has raised tremendous antitrust concerns from lawmakers worldwide, who are calling on regulators to carefully scrutinize a merger of this size.
The U.S. Department of Justice has already initiated its reviews, and other countries may also scrutinize either deal. Both Paramount and Netflix have said they received securities clearance from German authorities last month.
THE Warner Bros. water tower is seen at Warner Bros. Studios in Burbank, Calif., Dec. 5, 2025.
Photo:Jae C. Hong/AP
Bayer agrees to $7.25 billion proposed settlement over thousands of Roundup cancer lawsuits
By DAVID A. LIEB Associated Press
AGROCHEMICAL
maker Bayer and attorneys for cancer patients announced a proposed $7.25 billion settlement Tuesday to resolve thousands of U.S. lawsuits alleging the company failed to warn people that its popular weedkiller Roundup could cause cancer.
The proposed settlement comes as the U.S. Supreme Court is preparing to hear arguments in April on Bayer’s assertion that the U.S. Environmental Protection Agency’s approval of Roundup without a cancer warning should invalidate claims filed in state courts. That case would not be affected by the proposed settlement.
But the settlement would eliminate some of the risk from an eventual Supreme Court ruling. Patients would be assured of receiving settlement money even if the Supreme Court rules in Bayer’s favor. And Bayer would be protected from potentially larger costs if the high court rules against it.
Germany-based Bayer, which acquired Roundup maker Monsanto in 2018,
disputes the assertion that Roundup’s key ingredient, glyphosate, can cause non-Hodgkin lymphoma.
But the company has warned that mounting legal costs are threatening its ability to continue selling the product in U.S. agricultural markets.
“Litigation uncertainly has plagued the company for years, and this settlement gives the company a road to closure,” Bayer CEO Bill Anderson said Tuesday.
The proposed settlement was filed in St. Louis Circuit Court in Missouri, home to Bayer’s North America crop science division and the state where many of the lawsuits have been brought. The settlement still needs the court’s approval.
Settlement payouts to the sick would vary
More than 125,000 plaintiffs have lodged legal claims over Roundup since 2015, according to the settlement documents. Few have gone to jurors, with 13 verdicts for Bayer and 11 for plaintiffs, including a $2.1 billion award by a Georgia jury last year. Others already have been resolved through separate settlements, including two
Trump family business files for trademark rights on any airports using the president’s name
By BERNARD CONDON AP Business Writer
THE Trump family company has filed to trademark the use of the president's name on airports but says it doesn't plan on charging a fee — at least for a proposed renaming of one near his Florida home.
Applications filed by the Trump Organization with the federal trademark office are seeking exclusive rights to use the president's name on airports and dozens of related things found there, from buses shuttling passengers to umbrellas and travel bags to flight suits. The filings come amid debate in Florida over a state bill to name the Palm Beach airport after Trump and a dispute over funding of a tunnel between New York and New Jersey that is tied up with proposals that both it and Dulles International Airport in Virginia bear his name.
The Trump Organization said that the applications were triggered by the Florida bill and that it didn't seek any profit — only protection against "bad actors" given that the Trump name is the "most infringed trademark in the world."
"To be clear, the President and his family will not receive any royalty, licensing fee, or financial consideration whatsoever from the proposed airport renaming," the company said it in a statement, referring to what is now called the Palm Beach International Airport near Trump's Mar-a-Lago club.
The company didn't respond when asked if it would charge royalties for the use of the name at other airports in the future, or on merchandise listed for protection in the filings.
Josh Gerben, a trademark lawyer who uncovered the filings over the weekend, said the applications were the first of their kind he's ever seen.
"While presidents and public officials have had landmarks named in their honor, a sitting president's private company has never in the history of the United States sought trademark rights in advance of such naming," Gerben wrote on his blog.
"These are trademark filings that are completely unprecedented." Another break with the past: Presidents usually have to wait for years after they've left office to get an airport named after them — or die.
Bill Clinton had to wait 11 years, Ronald Reagan nine. For Gerald Ford it took 22 years. JFK was quickest — just one month after his assassination.
If Trump gets his airport, it will join a long line of organizations, buildings and other public things renamed for him in recent months including the Kennedy Center performing arts venue, a road outside Mar-a-Lago dubbed the President Donald J. Trump Boulevard and a yet-to-built new class of battleships.
The airport trademark applications filed by a family company unit called DTTM Operations with the U.S. Patent and Trademark Office are for the use of three names — President Donald J. Trump International Airport, Donald J. Trump International Airport and DJT.
The Trump company's claim that it is the most infringed trademark in the world could not be quickly confirmed.
recent ones that would take care of about 77,000 of the claims, the court documents said.
The newly proposed nationwide settlement is designed to address most of the remaining lawsuits, as well as any additional cases brought in the coming years by people who were exposed to Roundup before Tuesday. If too many plaintiffs opt out of the proposed settlement, Bayer said it reserves the right to cancel it. But Bayer did not specify how many opt-outs would have to occur.
The deal calls for Bayer to make annual payments
into a special fund for up to 21 years, totaling as much as $7.25 billion. The amount of money paid out to individuals would vary depending on how they used Roundup, how old they were when diagnosed and the severity of their non-Hodgkin lymphoma.
An agricultural, industrial or turf worker exposed at length to Roundup would receive an average of $165,000 if they were diagnosed with an aggressive form of the illness while younger than age 60, according to the proposed settlement. Meanwhile, a residential Roundup user
diagnosed between the ages of 60-77 with a less aggressive form of the illness would receive an average of $20,000. And those diagnosed at age 78 or older would get an average of $10,000.
“No settlement can erase a diagnosis, but this agreement is designed to ensure that both today’s and tomorrow’s patients have access to meaningful compensation,” said attorney Christopher Seeger, who would represent current claimants under the settlement.
Whether that compensation seems meaningful to patients remains to be seen. Attorney Matt Clement, who represents about 280 Roundup plaintiffs, said he was surprised by the proposed settlement and expects a lot of his clients will opt out.
The proposed payouts “are exceedingly too small,” Clement said.
Bayer gets Trump’s backing in court
Because of lawsuits, Bayer already has stopped using glyphosate in
Roundup sold in the U.S. residential lawn and garden market. But glyphosate remains in agricultural products. It is designed to be used with genetically modified seeds that can resist the weedkiller’s deadly effect, thus allowing farmers to produce more while conserving the soil by tilling it less.
Though some studies associate glyphosate with cancer, the EPA has said it is not likely to be carcinogenic to humans when used as directed. The federally approved label for Roundup includes no warning of cancer.
Bayer contends that federal pesticide laws preempt states from adopting additional labeling for products and thus prohibit failureto-warn lawsuits brought under state laws. Bayer is making that argument to the Supreme Court in an appeal of a Missouri case that awarded $1.25 million to a man who developed non-Hodgkin lymphoma after spraying Roundup on a community garden in St. Louis.
US stocks edge higher after swinging through worries about AI and the economy
By STAN CHOE AP Business Writer
A QUIET finish for the U.S. stock market on Tuesday masked big swings underneath the surface as companies talked about how discouraged their customers are feeling and some tech stocks continued to feel the downside of the artificial-intelligence boom. The S&P 500 rose 0.1% after flipping earlier between a gain of 0.5% and a loss of nearly 1%. The Dow Jones Industrial Average added 32 points, or 0.1%, and the Nasdaq composite gained 0.1%.
Paramount Skydance helped lead the market and rose 4.9% after Warner Bros. Discovery said it would allow Paramount a chance to give its "best and final" bid to buy the entertainment company. Paramount is trying to top an offer from Netflix.
Warner Bros. Discovery rose 2.7%, and Netflix added 0.2%.
On the losing end of Wall Street was General Mills, which sank 7% after warning that its customers are feeling uneasy. The company behind the Cheerios, Nature Valley and Pillsbury brands cut its forecast for an underlying measure of profit for 2026, saying declines would likely be sharper than it earlier expected.
Several surveys have recently shown weak confidence among U.S. households, which are struggling with inflation that remains higher than anyone would like, a job market coming off a weak year of growth and worries about tariffs.
Genuine Parts, which sells auto and industrial replacement parts, said it's also "navigating a dynamic environment" while reporting weaker results for the latest quarter than analysts expected.
It plans to split into two separate, publicly traded companies in early 2027, with one focusing on auto parts and the other on industrial parts.
Genuine Parts' stock fell 14.6%
Drops for some Big Tech stocks were the heaviest weights on the market Tuesday, including a 1.2% fall for Alphabet.
The moves were tentative, though, and Nvidia swung between being one of the market's heaviest weights and one of its biggest strengths.
Markets need such Big Tech companies to stabilize and "need to see less sell first/ask questions later behavior from investors," according to Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute.
Last week, Wall Street shook when stocks of software and other companies tumbled as investors hunted for companies that could be potential losers if AI ends up remaking the world and their industries.
"Overall, the market is still close to records highs, but it may not feel that way to some investors because of the sharp sell-offs that seem to derail upswings almost as soon as they begin," according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.
The market has seen a sharp turnaround from prior years, when the
promise of AI helped drive U.S. stock indexes to record after record. Now, companies in industries as varied as software and legal services and trucking have seen investors suddenly turn against them when worries flare that AI-powered competitors could steal their customers.
The companies spending big on AI are feeling their own pressure, too. Global fund managers say they're worried about the risk that companies are pouring too many dollars into AI data centers and chips. Those companies will need to see tremendous profits and productivity to make their investments worth it. Alphabet, for example, said its spending on AI and other investments could double this year to roughly $180 billion.
A survey of global fund managers by Bank of America found a record percentage is saying that companies are "overinvesting." That could mean an eventual pullback in spending on chips from Nvidia and other companies.
All told, the S&P 500 added 7.05 points to 6,843.22. The Dow Jones Industrial Average rose 32.26 to 49,553.19, and the Nasdaq composite gained 31.71 to 22,578.38. In the bond market, Treasury yields held relatively steady.
The yield on the 10-year Treasury edged up to 4.05% from 4.04% late Friday.
In stock markets abroad, indexes rose in Europe following a quiet day in Asia, where most markets were closed for Lunar New Year holidays. Japan's Nikkei 225 slipped 0.4%.
Kenya's main airport resumes operations after 2-day strike
OPERATIONS at Kenya's main airport are set to resume and return to normal after workers on Tuesday called off a two-day strike after reaching an agreement with the transport ministry.
Operations at Nairobi's Jomo Kenyatta International Airport were paralyzed on Monday, with flight delays of up to six hours, as airlines urged passengers to rebook their travel.
The Kenya Civil Aviation Authority in a statement said operations would resume immediately after a return-to-work agreement was reached with the trade union Tuesday.
The union was demanding better working conditions, pay, and benefits, and discussions on how their demands would be met were held on Tuesday.
The airport is a major transport hub for regional and international travel.
Transport Minister Davies Chirchir reiterated the government's
commitment to ensure the aviation sector remains stable.
Kenya Airways, in a statement, said it was in the process of normalizing the schedule and that "normal operations will resume within the next 24 hours."
Airport workers issued a strike notice last week after authorities failed to implement part of an agreement with the union. The agreement demanded better labor conditions as well as increased pay and benefits.
A WOMAN walks in front of a logo of Bayer AG at the Financial News Conference in Leverkusen, Germany, Feb. 27, 2020.
Photo:Martin Meissner/AP
OPTIONS trader Anthony Spina works on the floor of the New York Stock Exchange,
Photo:Richard Drew/AP
THE PERSONAL plane of President Donald Trump is seen on the tarmac after Trump arrived on Air Force One, at Palm Beach International Airport in West Palm Beach, Fla., Friday, Feb. 13, 2026. Photo:Matt Rourke/AP
