Super Value chief: Clock ticking on VAT ‘solution’
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
SUPER Value’s president yesterday voiced optimism that the Government will strike a “mutually beneficial solution” over the food distribution industry’s VAT ‘exempt’ fears but warned that time is running out with the first relevant tax returns due in just six weeks.
Debra Symonette, speaking ahead of VAT’s elimination on uncooked foods which takes effect today, told Tribune Business she is “very hopeful” that a balance can be struck where Bahamians enjoy the benefits from the tax relief without “significantly increasing” merchants’ expenses and eating into their profits. Any “additional burden”, she reiterated, will force retailers to increase prices on other products “to stay in business” - potentially negating the benefits shoppers will receive from slashing the VAT rate on
all uncooked foods from 5 percent to zero with effect from April 1.
Ms Symonette told this newspaper that the Prime Minister and government officials, during their recent meeting with the Retail Grocers Association and its members, had signalled they were “willing” to come up with proposals to ease the industry’s concerns over the VAT ‘exempt’ tax treatment. However, with April’s VAT payments, returns and filings due as early as mid-May, she added that time was running out for both parties to agree on what solution to adopt. And, turning to today’s elimination of VAT on uncooked foods, the Super Value president pledged that customers “will not be over charged” even though shelf and product ‘sticker’ prices may not reflect the tax break. She reassured that the 13-store supermarket chain’s point-of-sale system will show the correct prices as it was simply impossible to change
PM: ‘We’ll see how we can intervene’ over gas prices
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
Otherwise ‘exempt’ status may force price rises that negate tax break
‘Very hopeful’ consumers enjoy relief without ‘burdening’ merchants Shoppers will ‘pay correctly’ even with two weeks for shelf switch
‘sticker’ prices on up to 100,000 different product items overnight.
Ms Symonette said the VAT cut will require Super Value to “assemble a special team” to work “a lot of hours” to effect the product pricing changes, which means an increase in overtime costs. Disclosing that the company was yesterday “going over every possible challenge that may come up”, she added that the transition to ‘zero VAT’ pricing on uncooked foods “is definitely going to be a couple of weeks”.
Government regulators, such as the Consumer Protection Commission and Price Control, are “aware” that Super Value and other
food merchants need more time to complete the pricing transition given the sheer amount of stock involved. Ms Symonette said the agencies are working with the industry once “satisfied” that uncooked food prices in their POS systems are correct. However, the Super Value president signalled that there are barely six weeks left to address the industry’s concerns over treating the elimination of VAT on uncooked foods as ‘exempt’ rather than ‘zero rated’. The former method means retailers, as well as wholesalers, face a major increase in costs because
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Fishermen ‘dreading’ fall-out from Middle East fuel cost spike
Boats ‘filling up to the brim’ in bid to beat diesel hikes
But Easter sales and prices still forecast to be ‘bountiful’ Super Value to ‘do what we have to do to stay in business’
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
BAHAMIAN fishermen were yesterday said to be “dreading” the spike in fuel costs generated by the Middle East conflict with boats returning to shore “filling up their tanks to the brim” in a bid to minimise the impact on expenses and profit margins.
Paul Maillis, the National Fisheries Association’s (NFA) secretary, told Tribune Business that “everybody suffers when the cost of energy goes up” as he voiced particular concern for Family Island residents and businesses who typically pay several dollars per gallon higher than Nassau due to the extra transportation and logistics costs in their supply chain. And he warned that the price of fish staples, such as snapper and grouper, will inevitably have to rise if the fuel spike and other cost increases are prolonged as a result of the US and Israeli assault on Iran even though fierce “competition” in the industry keeps prices keen.
“Unfortunately, with this war, we are totally beholden to what happens. Right now a lot of boats are coming in to avoid the present bad weather and offload their catch. Everyone is filling their boat [tank] to the brim. I filled up to the brim. We’re afraid because everything is going up. We finally had a season where fuel prices seemed to be coming back down. We were celebrating that, and now it looks like it’s going to be over.”
Warning that most fisheries products sold in the Bahamian market will see price increases if fuel and other costs remain high, or continue to rise for a prolonged period, Mr Maillis added: “If the price of fuel goes up as high as anticipated, customers will have to understand people cannot take a loss on their product. There’s going to have to be some form of adjustment.
THE Government has competition legislation on its “drawing board”, the Prime Minister confirmed yesterday, as he pledged that the Government will “see how” it can mitigate the threat from soaring fuel prices.
Philip Davis KC, speaking prior to today’s VAT elimination on uncooked food items, said he will continue to seek ways to provide financial relief to Bahamians with gas prices on the rise.
“We intervened, if you recall, back in 2022,” he said. “Oil prices were over $100 per barrel. We intervened at that time to help the to ensure that it did not impact the consumer, and that worked well. At this time, we are going to look again to see how we can intervene. But we have to, again, balance that with any loss, how that loss may be make up when we intervene.”
The Government earns both 10 percent VAT, as well as an ad valorem charge of around $1.06 to $1.16, on every gallon of gasoline sold. This means that its fuel-related revenues will increase due to the oil price spike from the Middle East war, and the Opposition has already urged it to cap VAT at the pre-increase levels
AML Foods targets April 13 start for fire-destroyed stores rebuild
BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
AML Foods yesterday revealed it will break ground on the replacements for its fire-devastated Solomon’s Old Trail and Cost Right Nassau stores on April 13 as it turns to technology to ease the transition to eliminating VAT on uncooked foods.
Franklyn Butler, the BISX-listed food retail and franchise group’s chairman, pledged that the stores will be rebuilt at the same location “bigger and better” with an opening date targeted for early 2027.
AML Foods has received around $25m in gross insurance proceeds due to the fire.
“We'll be having a ground breaking on April 13,” he said. “I know it's political season, but we want all of our every day customers, you
want to know what's happening. Pease come on, check us out. It'll be right at the site where we had the fire one year ago.
“And we anticipate that early in 2027 we will have the reopening of the Cost Right store right at the current Old Trail site. And that store is going to be bigger and better, and we're looking forward to serving you, our valuable customers, again where you get more for your money.”
Mr Butler signalled that AML Foods may have a competitive advantage over rivals in making the transition to zero VAT on uncooked foods. He said the group’s stores have electronic labels where the prices will be changed digitally with effect from this morning.
“We have all electronic labels throughout our store as we walk
GB Chamber: We need ‘next steps’ on Lucayan
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Grand Bahama Chamber of Commerce last night called for “timely and transparent” details on the fate of Concord Wilshire’s proposed Grand Lucayan acquisition given the developer’s failure to meet its own self-imposed deadline to unveil the project’s demolition and construction schedule.
The Chamber, in a statement to Tribune Business, said it “notes with concern the continued absence of details on the Grand Lucayan development project” that was first unveiled by the Davis administration with much fanfare via a May 2025 Heads of Agreement signing. Concord Wilshire, in a February 23, 2026, statement that joined the Government in rejecting assertions that its proposed $800m-plus investment
However, Mr Maillis told this newspaper that - despite the Middle East fall-out - the Easter weekend will remain “bountiful” with fish sales and prices comparable with 2025 and prior years and showing no sign of any decline. He spoke as one of the three oil majors and distributors operating in The Bahamas yesterday went up on gasoline and diesel prices to leave the latter near $7 per gallon.
“We haven’t really seen an adjustment to the price of fuel at the pump yet,” Mr Maillis said, “but it’s only a matter of time before the prices reflect what’s going on in the international market. We’re dreading it. There’s nothing that can be done. We’re victims of the international market.
“In Nassau today, the price of diesel is almost at $7 per gallon at the pump. It’s begun. It’s happening in real time. It’s going to have to go somewhere. Unfortunately, the customers will suffer or we will have to go out of business. Everybody suffers when the price of energy goes up. I feel really sorry for the Family Islands where any price increase in Nassau is multiplied for them, with the extent depending on the particular island.”
Crude oil prices have increased by 60 percent on the Brent crude index since the Middle East conflict began at end-February 2026, with per barrel costs hitting $116 again yesterday. The impact, having worked its way through the supply chain, has now reached The Bahamas, with transportation - the ground in-country variety, as well as freight and shipping costs - among the first to feel the effects.
PHILIP DAVIS KC
FRANKLYN BUTLER (right) addresses onlookers at the press event while Prime Minister Philip Davis KC (left) looks on.
LPIA braces for slight Easter increase to 85,000 travellers
LYNDEN Pindling International Airport’s (LPIA) operator yesterday disclosed it is expecting a slight increase in Easter weekend traveller volumes to between 80,000-85,000 persons as it prepares to mark its 19th year of operations.
Nassau Airport Development Company (NAD), in a statement, recalled that since taking over LPIA on April 1, 2007, itself and its management partner, Vantage Group (formerly YVRAS), executed the completion of a $409m airport redevelopment that was completed by 2013.
And, through partnerships with the Ministry of Tourism, Investments & Aviation, the Nassau Paradise Island Promotion Board and NAD, LPIA has enjoyed record passenger growth, which first peaked at 3.99m in 2019 before hitting a new high of 4.06m in 2024 following
recovery from the COVID19 pandemic.
Airport officials said that, for the peak Easter holiday weekend, they anticipate between 80,000-85,000 passengers will travel through LPIA between Thursday, April 2, and Easter Monday, April 6. This forecast, if hit will slightly exceed the 79,222 passengers processed during last year’s Easter weekend. Aircraft movements are also expected to remain strong following the 2,658 recorded last year.
Vernice Walkine, NAD’s president and chief executive, says the airport operator’s continued focus remains on improving efficiency and service standards, strengthening stakeholder relations and enhancing the guest experience at The Bahamas’ major aviation gateway.
“Over the past 19 years, we have seen steady growth in passenger demand and, more importantly, we have
Bahamian dealer launches Chinese electric auto brand
A BAHAMIAN electric vehicle dealer has officially launched the high-end Chinese auto brand, HongQi, in The Bahamas.
Eay Car Sales, in a statement, said the launch, which was held at the Baha Mar Convention Centre, coincided with its tenth anniversary as an electric vehicle dealer.
Zane Lightbourne, minister of the environment and natural resources, told the event that Easy Car Sales has helped change how The Bahamas “thinks about mobility, energy and our responsibility to the environment” since it first started selling electric vehicles a decade ago. He said the company has helped The Bahamas move towards its national goal of reducing greenhouse gases.
“For the past ten years, Easy Car Sales has demonstrated what leadership in sustainable transportation looks like...Today, we celebrate ten years. Ten years of leadership. Ten years of innovation. Ten years of impact. You have not only built a successful business, but you have helped to move our country forward,” added Mr Lightbourne.
Speaking to the potential cost savings associated with driving an electric vehicle, Mr Lightbourne said this “represents a significant economic advantage, particularly as we seek to strengthen our energy security and manage the impact of rising global fuel prices”.
He added: “The success of Easy Car Sales demonstrates something powerful:
That environmental responsibility and economic opportunity can go hand in hand.”
Easy Car Sales said HongQi’s arrival in The Bahamas marks the first time the brand has been available in the Caribbean market. Yan Jiarong, Chinese ambassador to The Bahamas, spoke at the launch to highlight the growing strength of the China-Bahamas partnership and the significance of Chinese innovation reaching new markets.
The Bahamian electric vehicle dealer said that, since its founding, Easy Car Sales has served 1,400 customers and is estimated to have delivered $5m in collective fuel cost savings for customers.
The evening also saw the unveiling of the winners of the ‘Electric Canvas’ art competition in collaboration with The Current Gallery and the Baha Mar Resort Foundation. This invited Bahamian artists to submit original works inspired by electric mobility, with the winning design applied as a vehicle wrap on a HongQi EHS5 and unveiled on the night.
Close to 100 entries were received, with Tynesha Tynes named as the $5,000 winner, and Sue Katz and Sincere Braynen announced as runners-up. Three creatively wrapped HongQi vehicles, including the ‘Electric Canvas’ winner wrap alongside works by Bahamian artists John Cox and Jordanna Kelly, will go to auction in June 2026. Part of the proceeds will benefit the Baha Mar Resort Foundation, which supports local causes in community, culture and conservation.
developed strong working relationships with key airport stakeholders to effectively manage operations during busy periods and with our industry partners to increase demand to the destination,” Ms Walkine said.
“Peak travel periods like Easter have become important indicators of the airport’s ability to effectively manage higher traffic volumes. As we prepare to mark two decades as airport managers next year, our focus remains on operating efficiently, maintaining a high level of guest satisfaction and continuing to improve the overall travel experience at LPIA.”
To support the increased demand expected over the Easter weekend, NAD said it has closely co-ordinated with key airport stakeholders including Immigration, Bahamas Customs, the Airport Authority, US Customs & Border
Protection (USCBP), Air Traffic Services (ATS), airline operators, the Royal Bahamas Police Force, the Road Traffic Department and other agencies.
It added that, throughout the five-day period, guest service ambassadors will be strategically positioned throughout the US departures and international arrivals terminals to assist with queue management and provide real time support. Additional attention will also be placed on baggage handling within Bahamas Customs, with additional manpower deployed to support the timely removal of bags from carousels and improve the overall arrival experience.
Guests travelling over the Easter holiday weekend are being asked to arrive at the airport three hours prior to US-bound flights, and two hours ahead of international and domestic departures. Where possible, passengers should consider travelling outside the airport’s peak operational hours of 11am to 3pm. Due to anticipated demand, parking lots may reach capacity and could be temporarily closed at peak times.
Passengers are being encouraged to monitor
LPIA’s social media channels for the latest updates on parking availability. They are also encouraged to follow curbside pick-up and drop-off guideline, and make use of LPIA’s free cell phone waiting lot to help reduce congestion in front of the terminal.
Medical plan partners with Kanoo to boost care access
A BAHAMIAN medical plan has teamed with a local digital payments provider to improve access to healthcare regardless of whether persons have a bank account.
FirstCare Medical Plan, which was launched in 2009 in a bid to make primary healthcare affordable, has teamed with Kanoo Pays to permit members to pay their monthly membership fee directly through the latter’s app. It said the entire enrollment process, straight through to payment, can now be completed on a smart phone in less than two minutes without the need for a bank account or paperwork.
Corinna Neely, FirstCare’s president, said: “For thousands of Bahamians, the barriers to private healthcare have never been just one problem. There's been three: No provider on their island, no plan they
can afford, and no accessible way to pay. FirstCare addresses all of them, and this partnership removes the last obstacle standing.”
FirstCare added that it already offers primary care coverage from $49.50 per month, the equivalent of $1.5pera day, with no health examination required, no co-payment, no deductible and no claim forms. Coverage includes free doctor visits, free generic prescriptions for hypertension and diabetes, annual lab tests, urgent care, mental health counselling, imaging, mammograms and access to a trusted provider network spanning New Providence, Grand Bahama, Abaco, Eleuthera, Exuma, Andros and the US.
conduct secure digital transactions without a bank account. It added that its technology enables card-tocard payments that function without an Internet connection, meaning that even in the most remote island communities, a FirstCare membership can be enrolled, paid and maintained entirely on a device.
"At FirstCare, we have always believed that everyone deserves access to quality, affordable healthcare," said Ms Neely.
"Partnering with Kanoo means the question of how to pay is no longer a reason to go without coverage.
Whether you bank with a major institution or manage your finances through your phone, your health plan is now one tap away."
Kanoo said its platform is designed specifically for markets where traditional banking infrastructure is limited or inaccessible.
Users can send and receive money, pay bills and
What has remained a challenge for some Bahamians is the ability to consistently pay their monthly membership in a way that works for their lifestyle. Kanoo helps to solve that.
Burrows appointed as CBS managing director
COMMONWEALTH
Building Supplies (CBS Bahamas) yesterday confirmed that Brent Burrows II has been promoted to the post of managing director with effect from today.
Mr Burrows joined CBS in 2019, and has led the company’s retail and digital evolution. He headed the launch and implementation
of the company’s cbsbahamas.com website to make it a premier online destination for home improvement products.
Most recently, Mr Burrows served as the company’s vice-president of retail and sales, where he spearheaded key growth initiatives including the launch of the CBS
POSITION AVAILABLE
• Position/Job Title: Housekeeper
• Job Description: Maintain internal areas clean and organized at all times.
• Contact Number to Include: 427-3094 (Mr. Farrington)
• Billing Attention: Phillipa Armbrister
• Duration: 3 Days starting Friday March 27th, 2026
• Contact Number to Include: 427-3094 (Mr. Farrington)
PROstore and expansion of the its online platform to include special order sales. CBS Bahamas said this expansion has provided Bahamian customers with access to more than one million products, thereby strengthening its ability to meet a broader range of hardware and home improvement needs.
“I’m excited, it’s a real honour,” Mr Burrows said of his appointment. “When you look at what we’ve done with customer service and expanding our offerings, it’s safe to say that we’ve built something special over the past seven years, and I’m looking forward to continue building on that.
“We’re the nation’s trusted leader in the home improvement space, so we owe it to our customers to maintain that reputation while continuing to provide them with more value for their hardware and home improvement needs. I look
"The core of our philosophy is financial inclusion," said Jevon Butler of Kanoo Pays. "Our target market includes the millions of people across the Caribbean who are unbanked or underbanked.
“Healthcare is a financial service. When a Bahamian can pay for their health plan the same way they top up their phone or pay their light bill - quickly, easily and from wherever they are - we have done our job. We are proud to stand alongside FirstCare in making that a reality."
Ms Neely said: "The uninsured and the unbanked are not two separate problems. They are often the same resident facing the same systemic gap. This partnership addresses both at once."
forward to working handin-hand with our team on this next phase of growth.” CBS Bahamas said Mr Burrows will maintain the company’s focus on customer service excellence, operational growth and expanded access to products and solutions for customers throughout The Bahamas. He will oversee the ongoing development of its retail, commercial and digital
BURROWS
LPIA expects to welcome 80,000-85,000 passengers during the five-day Easter peak period.
Some of the first HongQi owners in The Bahamas join guests at the official launch of the Chinese car brand. From R to L: Michael Budhi and Shannon Albury, HongQi EHS5 owners; Lian Yaning, manager HongQi Latin America; Donna Rolle, mother of Cle-Andrea Rolle-Longley, HongQi owner; Yan Jiarong, Chinese ambassador to The Bahamas; Shaneka Carey, the first HongQi owner in The Bahamas; John Farmer, director, Easy Car Sales; Zane Lightbourne, minister of the environment; and Liu Jifang, assistant manager, HongQi Global.
CORINNA NEELY
URCA launches consultation on Gov’ts GB Power purchase
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
ELECTRICITY sector
regulators yesterday launched a consultation process to obtain public feedback on the Government’s proposed $200m Grand Bahama Power Company acquisition more than three weeks after it was first notified of the deal.
The Utilities Regulation and Competiton Authority (URCA), in unveiling the consultation process that will close on May 1, 2026, disclosed that Grand Bahama Energy Company, the fully-owned government special purpose vehicle (SPV) that has been formed to acquire 100 percent of GB Power’s energy provider, formally informed it of the deal on March 6, 2026, prior to the Government seeking Parliament’s approval to facilitate the $280m borrowing needed to finance the deal.
The consultation is triggered by the Electricity Act’s section 44, which deals with “changes in control” of public electricity suppliers such as GB Power.
URCA is required to determine whether the proposed acquisition by the Government “would have, or is likely to have, the effect of substantially lessening competition in a market in The Bahamas”, and if “the change of control would have an effect, or would be likely to have an effect, contrary to the public interest”.
URCA will now rule on these questions, aided by public opinion, at a time when its authority - and that of the Electricity Act - to regulate GB Power are still being challenged in two separate Supreme Court actions that remain live.
GB Power and the Grand Bahama Port Authority (GBPA) are arguing that the latter has the authority to regulate electricity, and other utilities in the Port
area, by virtue of the powers bestowed by the Hawksbill Creek Agreement, Freeport’s founding treaty. Their position, though, may have been weakened by the recent GBPA arbitration ruling which found that the Government does have the ability to regulate the energy sector in the Port area by virtue of the Electricity Act. If the Government’s GB Power deal proceeds, it would acquire its 100 percent interest from Emera Utilities Holdings and ICD Utilities, each of which holds a 50 percent stake in the utility.
“Given the essential nature of electricity services and the impact on households, businesses and national development, it is critical that this decision-making process is informed by stakeholder input,” URCA said of the GB Power consultation.
“This consultation is undertaken to ensure transparency, accountability and inclusiveness in evaluating the proposed change in control. The consultation provides an opportunity for electricity consumers, industry participants, public institutions and other interested parties to review the proposed transaction and submit their views.
“The consultation process will support URCA’s decision making as the
Royal Caribbean opens PI Beach Club to
Bahamians
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
ROYAL Caribbean’s Paradise Island beach club is now its doors to Bahamians as it unveils discounted access for local residents ahead of the Easter holiday period.
Troy Smith, the Royal Beach Club’s general manager, said the move marks a key step in integrating the cruise-driven attraction into the domestic tourism
economy following three months of operations that have so far catered primarily to international visitors. He said the response from guests since the soft opening has been overwhelmingly positive. “We’ve been getting some rave, rave reviews. All of our guests are super excited- they really love the destination,” said Mr Smith. “I’m really proud that we’re able to open it up to the Bahamian public.”
Mr Smith added that locals can expect
independent regulator for the electricity sector and will ensure that public interest remains central to any determination regarding the proposed change in control.” The fact URCA was informed of the deal suggests that negotiations are reasonably well advanced despite Emera confirming last month that no final sales agreement has been concluded.
Private sector representatives, including the Grand Bahama Chamber of Commerce, have questioned how the Government will achieve the promised energy bill savings for residents and businesses while still keeping GB Power commercially viable and not becoming a burden for the Bahamian taxpayer to subsidise. Concerns have been expressed that, under government ownership, GB Power could become a second Bahamas Power & Light (BPL) saddled with debts and inefficiencies.
The Government has yet to disclose its “game plan”, and the commercial and economic rationale, for acquiring GB Power and adding more than a quarter-of-a-billion dollars to The Bahamas’ $12bn-plus national debt other than implying that Grand Bahama businesses and households will see a reduction in energy bills and costs
significantly reduced pricing. “Once you see the rates on our website, you’re going to be extremely excited - you won’t believe how affordable it’s going to be,” he said.
The Beach Club features multiple themed areas designed to appeal to a range of guests, including a family-focused zone, a high-energy Party Cove anchored by what operators describe as the world’s largest swim-up bar, and a more relaxed section.
“We have three neighborhoods… so as you move through the island, you can really understand the variety of experiences available,” Mr Smith said.
Captain Cameron Gibson, director of business integration, said the launch of local ticket sales is tied
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following the acquisition. It has also yet to show how its valuation of GB Power was derived, given that $200m of the $280m has been earmarked for covering purchase costs.
Emera’s financials for the 12 months to year-end 2025 show that GB Power generated a $10m Canadian dollar contribution to the utility giant’s “consolidated adjusted net income” for the period - a figure that was slightly down on the prior year’s $11m. Using the current exchange rate, that $10m Canadian dollars translates into about US $7.3m.
Those profits were generated from $162m Canadian dollars worth of revenue, which represented a 16.5 percent year-overyear increase compared to 2024’s $139m Canadian dollar top-line. The increase is likely due to increased economic activity among GB Power’s 20,000-strong customer base, with Carnival’s $600m Celebration Key destination having opened last July. The exchange rate conversion means GB Power generated $118.26m worth of revenues in US dollars last year.
The value of the Grand Bahama-based electricity provider’s physical assets, namely property, plant and equipment, narrowed slightly last year from $371m Canadian dollars at year-end 2024 to $361m Canadian dollars some 12 months later.
To give an idea of what the Government is potentially acquiring, Emera said: “With $378m US dollars of assets, and approximately 20,000 customers, GB Power owns 98 mega watts (MW) of oil-fired generation, approximately 100 kilometres of transmission facilities and 1,000 kilometres of distribution facilities. GB Power’s approved regulatory return on rate base is 8.52 per cent.”
to a broader strategy to deepen Bahamian participation in the project.
“The group’s purpose in The Bahamas includes true local partnershipswith Bahamian businesses, partners and vendors - to ensure what we’ve built is integrated into the local economic community,” said Mr Gibson.
He added that ticketing for Bahamians is being facilitated through a local platform, MobileAssist, to ensure familiarity and ease of use. “The idea is to make the system seamless,
But a financial observer, speaking on condition of anonymity, said they were “shocked and stunned” that the Government was seeking to increase the national debt by almost $300m through pursuing GB Power’s acquisition. Emera, they added, had seemingly not been seeking to sell or exit, which meant it had likely been “squeezed” by the Government into doing so.
The GB Power purchase which, in effect, is a nationalisation of Grand Bahama’s energy supplier, is also the exact opposite direction that the Government has taken in outsourcing Bahamas Power & Light’s (BPL) New Providence baseload generation and electricity grid to the private sector, “GB Power should be the least of their worries,” the source said. “It’s a functioning utility. It would be different if it was in trouble or a bad performer, but there’s no urgency other than there’s an election coming up and they want to make a splash. I’m eager to find out what the rationale is going to be. This [Emera’s confirmation the sale has yet to close] makes this $280m exercise more curious because there’s no need to do this right now.
“No one is clamouring for this change. I know quite a few people in Grand Bahama and not one wants the Government to have a greater role. And we haven’t seen the game plan for GB Power. Are we taking on the liabilities? What are we actually purchasing? This has been driven by the Government from day one but there’s no need for the Government to be taking this on.
“You have enough Bahamian capital out there. Let them buy it, let the regulators regulate, otherwise you are setting yourself up for disaster and you will have another BPL and the same problems that BPL has but now in Grand Bahama.”
practical and familiar for our guests,” Mr Gibson said.
Tickets can be accessed through the beach club’s website and social media platforms, with booking links and QR codes available online. Mr Gibson said the timing of the roll-out was deliberate, aligning with increased domestic travel during the upcoming Easter holidays.
“With the holiday season approaching, we wanted guests to have the opportunity to enjoy the beach club over Easter, so we’re very proud of the timing,” he said.
Inspectors to enforce ‘zero VAT’ compliance
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
INSPECTORS from the Government’s consumer affairs unit will maintain a strong presence at food retailers, gas stations and pharmacies to today to ensure businesses comply with the Government’s elimination of VAT on uncooked foods which takes effect on April 1.
Rex Adderley, head of the consumer affairs unit, said teams will be actively checking that VAT has been removed at the point of sale. “Inspectors will be out to the stores tomorrow to check and confirm that VAT is removed from all unprepared food,” he said.
The move follows the Government’s announcement that VAT will be eliminated on a range of basic food items, part of a broader effort to ease the cost of living for Bahamian households amid ongoing concerns over high prices.
Both the consumer affairs unit and the Price Control Commission are expected to play a central role in monitoring compliance, with officials warning that businesses must properly eliminate VAT and pass savings on to consumers.
The policy applies specifically to unprepared food items, generally understood to include raw or basic grocery products, and not prepared or hot foods.
Officials have indicated that inspections will focus not only on whether VAT has been removed, but also on pricing practices to ensure that retailers do not offset the tax break with increases elsewhere.
The initiative comes as consumers continue to voice frustration over rising food costs, with many hoping the VAT removal will bring meaningful relief at the checkout. Consumer protection authorities have urged shoppers to pay close attention to receipts and report any discrepancies, as enforcement efforts begin immediately.
Businesses found to be in violation could face penalties under existing consumer protection and price control regulations. The VAT-free measure is one of several policy steps aimed at addressing inflationary pressures, with the Government signalling that enforcement will be key to ensuring the intended benefits reach the public.
GRAND BAHAMA POWER COMPANY HEADQUARTERS
Regulators ‘co-operating’ on VAT uncooked food transition
they will be unable to recover, or ‘net off’, the VAT they must pay on input expenses associated with uncooked foods.
“I would say we had a very fruitful meeting,” Ms Symonette said of the sector’s discussions with the Prime Minister and his officials. “They were unable to hear our concerns, and they are willing to go through some scenarios to come up with a solution that will be beneficial to us. They were going to work out something where we’ll be satisfied and they are working on it now.
“The first VAT returns for April [reflecting the uncooked food tax break] will be due on May 14/15. We’d need them to come up with something by that time, and we’d need to discuss it before that date to be sure it’s something we can work with.”
Ms Symonette declined to give details on what the Government may be working on, saying: “I wouldn’t want to give any specific
methods they’d use but it’s all in regard to ‘exempt’ status. That’s the main issue. That’s what they’ll be working around. That would have a great effect on our bottom line. Our expenses would go up significantly.”
The Super Value chief had previously told Tribune Business that treating uncooked foods as VAT ‘exempt’ could cost the food store chain between $300,000-$400,000 per month, or up to $3.6m to $4.8m per year. This is because, while consumers will still be charged zero VAT, food retailers will no longer be able to reclaim the tax paid on inputs associated with uncooked foods.
This means that, if uncooked foods account for 50 percent of a merchant’s product or sales mix, they will be unable to recover 50 percent of the VAT paid on expenses such as electricity, rent, maintenance and overhead costs - an outcome that would significantly raise expenses and erode profits without increasing prices.
“I feel very hopeful and think we are going to come
to a solution that can be mutually beneficial judging from the meeting we had,” Ms Symonette told this newspaper. “It’s important for the Government. They want to give the Bahamian people a tax break so that they can get a relief from the cost of living burden but, at the same time, they need to work with the retailers so we wouldn’t have an additional burden that will force us to increase prices.
“That would offset any benefit consumers get from the tax break. The last thing we want to do is increase prices. It’s only when we really, really have to that we take that measure.” The timing of VAT’s elimination on uncooked food has been made better by a Middle East conflict that threatens to increase prices acrossthe-board due to the impact on transportation (fuel) and energy costs, so the last thing the Government will likely want is to offset any tax relief benefits by its selected VAT treatment method.
As for implementation of today’s VAT cut, Ms
PM confirms competition law on ‘drawing boards’
COSTS - from page B1
to reduce the burden on Bahamian motorists and the wider economy.
Dexter Adderley, president and chief executive of FOCOL Holdings, which operates the Shell brand in The Bahamas, yesterday said one of the three oil majors increased its gasoline and diesel prices and the others are expected to follow. The timing depends on when prior inventories are sold out, and when new shipments are purchased and arrive on-island.
Disclosing that there are no signs of any supply shortages impacting The Bahamas in the near-term, Mr Adderley told Tribune Business: “We’re not seeing any supply shortages at the moment. We’re in regular contact with our suppliers, and at the moment our main priority is to maintain an adequate supply.
“But, in the near term, we’re not seeing any shortage. The entire world is monitoring it. The best thing we can do is plan and monitor. We are expecting similar [price] changes locally across the brands.”
Mr Davis, meanwhile, said VAT imposed on unprepared food items is a different form of pressure than that from spiking fuel costs. He said the Government has control over VAT and will do what it can to minimise any negative impacts on Bahamians. However, he warned that in order for the Government to provide any tax relief, it must first determine how it will replace any revenue loss that results.
“First of all, whenever you talk about tax relief, from a legislative point of view you have to also look at how you replace... that’s a loss of income for the country,” the Prime Minister said. “We have to be
responsible in how we look at reducing VAT or any tax. What are we going to replace it with?
“And so in this instance, over the last four years, we have worked assiduously to grow the economy, find new means of revenue to be able to make up for any loss from VAT being reduced to what it is today, and we are confident that we have found that source of revenue.
“The revenue stream has shown it, and that’s why we’re able to reward the Bahamian people with this tax cut today. First, without a doubt their own conduct, their productivity and helping the economy to grow aided us to be able to do what we’re doing today, and this is their reward.”
Given that the House of Assembly has been prorogued, Mr Davis said any new legislation such as competition-related laws will not be introduced right
Symonette said: “We intend to change everything as soon as April 1 hits. We will press the button, and the system will change. After that will be the challenge of changing the items on the shelves and getting all the stickers to reflect VAT’s elimination on uncooked foods. Everything right now is VAT inclusive.”
Besides product sitting on its 13 stores’ shelves, Super Value will also have to make pricing changes to all items currently sitting in their back rooms and its main warehouse, as well as those being shipped in now by container. “It’s going to take quite a bit of work,”
Ms Symonette said. “We really have to put a good team together to get it done as quickly as possible.
“We’re just trying to go over now any possible challenges that may come up and how to handle them. We do have an implementation plan, and that’s the main thing: Getting it done. We’d ask the customers to be co-operative, and understand we have not been able to change the shelf items but the system will
now. However, his administration has developed such legislation which will “ensure that we’re able to check the points of the value chain that reduce the cost at the end of the day to the retailer”.
“We have on our drawing boards as we speak, introducing what they call competition legislation to ensure that we’re able to check the points of the value chain that reduce the cost, at the end of the day, to the retailer, to see whether there are any ways we can break-up what I call any monopoly along that line,” he said. “So competition legislation is on the agenda, and that’s what we’re looking forward to in the new term.”
Tyrone Butler, the Bahamas Taxi Cab Union (BTCU) president, said he is still awaiting a meeting with the Road Traffic Department’s controller to request a fare adjustment that will offset price hikes on fuel. He added that while the Government provides a rate sheet, as independent business persons they are allowed to “add an additional charge to cover their cost of operating”.
“In the face of these extreme measures, that’s affecting everybody,” he said. “Under normal circumstances, the fares that the Government said are merely a guideline, it’s
have the correct prices and that’s what they will pay at the register. They will not be over-charged.”
While the experience of slashing VAT on uncooked foods from 10 percent to 5 percent in 2025 will stand Super Value and other food merchants in good stead, Ms Symonette said changing sticker pricing for around 100,000 items, with many product lines having multiple brands and sizes, is no easy task.
“We don’t know how long it’s going to take exactly yet,” she added, “but there are definitely going to be a lot of hours and we are going to have to assemble a special team to work these hours. This is probably going to a few thousand dollars of overtime to get the job done. We’ve had to do this type of thing before when the VAT percentage was changed. It’s not new to us.
“We’re happy the customers are getting a break, and are sure they will appreciate it. We’re going to do what we have to do to accommodate them. It’s helpful that we have the experience, and
meant to be kind of a standard rate that you would apply for the first one or two persons, and then it has some additional charges if you’re taking extra persons.
“But let’s say the customer shows up, and where they’re going is not on the rate sheet... Let’s say you catch a taxi from the airport, and you’re going to, say South Beach, but South Beach was not on the list of rates that the Government gave, so then the driver has to use his discretion to make up a rate for that area based on the persons that he’s taking.
“Let’s say now the prices increase. Because taxi drivers are independent business persons, they do have a right to add an additional charge to cover their cost of operating. But it should be within reason.”
Livery drivers, whose fares are not regulated by the Government, are watching gas prices and will adjust accordingly, Taurian Austin, president of the Bahamas Livery Drivers Union (BLDU), said.
“We don’t have any immediate plan at this time,” he said. “We will be watching how this price of gas goes up. We don’t have a plan to say, but if it continues to rise, we will probably adjust our prices in what we offer our clients. That’s the only thing we can do right now.
Easter fisheries demand forecast to outstrip supply
PETROLEUM - from page B1
This will, in turn, impose cost and inflationary pressures on most goods and services.
Debra Symonette, Super Value’s president, yesterday told Tribune Business that the 13-store supermarket chain will “do what we have to do to stay in business” as it braces for increased costs to strike “any minute now”.
“It’s such a predicament,” she said. “The gas prices are already going up so we are watching this. All these things are affecting what we have to pay in the end. The freight charges will definitely go up. We’re expecting that any minute now. There doesn’t seem to be any end in sight to this war. Anything can happen.
“If everything keeps going up, we won’t be able to absorb all the increases. Eventually we would have to increase prices. Of
we know what to expect and what we need to do, but it does not make it any easier to go through. We still have to put time and effort into it. It’s not something like touching a button. It has to be done.”
Asked to estimate how long the pricing transition will likely take, Ms Symonette said: “It’s definitely going to take a couple of week because of the number of products. It’s not something that can be done in days. We’re going to do out best to get it done as quickly as possible but there is no way to say it’s going to take two days or anything like that because it would be unrealistic.
“They [the Government regulators] are aware we need additional time to change the stickers and items on the shelf, so they are quite willing to give us the time to do that. They are co-operating with us. Once they know the prices are correct in the system and customers will not have to pay VAT on items they are not supposed to pay it on, they are satisfied.”
“We understand what’s going on globally in the world, and I think every country, especially in the Western Hemisphere, is going to be affected with gas prices. I mean, you talk to Americans and they’re talking about how their gas prices have gone up. So, obviously it will affect us as well. And so all we can do is probably adjust our pricing accordingly to reflect the gas prices. But we’re not going to do that quite yet. We want to see how long it lasts. We’re going to monitor it closely.” Harrison Moxey, president of the United Public Transportation Company (UPTC), said he is also monitoring gas pricesdiesel in particular - as it will impact his members, who are jitney owners and operators, the most.
“So I’m still making some assessments on that,” he said. “So I can’t say anything until we get it out and we have a discussion. But it’s already in our group discussion. So I’m just looking at it to see what’s the comparison of the impact, or what we anticipate, how long we anticipate that to be, what that’s going to mean for us. So I just have to do an analysis of it properly. But we already had some discussions on it, as to what might be coming or how long it may be....”
We’re not anticipating any change from year to year. It should be relatively the same as 2025.”
course, we’ll try to keep the increase to a minimum but it’s something we won’t be able to help.
“Currently, we are just on stand-by. We know it’s coming. We don’t know how much it’s going to be. We just have to wait and see what everything comes up to. Shipping, suppliers, everything’s going to come into play to determine what we have to do. We’re just hoping for the best but they’ll pass it on to us. We just have to monitor it and do what we have to do to stay in business.”
Mr Maillis, though, voiced optimism that Easter sales will not be impacted by the Middle East fall-out and global economic turmoil and uncertainty. He predicted that demand, driven by tradition and Bahamians’ love of fish at Easter, as well as the peak winter tourism season, will again result in demand for staples such as snapper outstripping supply.
“The problem with the timing of Easter is that it comes right at the end of lobster season,” the NFA secretary explained.
“Everybody is expending energy to finish up lobster season so, unfortunately for consumers, it doesn’t leave a lot of fish available for them. The demand is always an issue around Easter. This is going to be a good Easter.
“We always expect prices to be very high, and unfortunately, fishermen are unable to meet the demand.
Mr Maillis said there was no ‘price setter’ for the whole of the Bahamian domestic fisheries market.
While the processing houses typically determined those for lobster, pricing for the likes of grouper and snapper is often set by the likes of hotels, restaurants, “middle men” and consumers.
“The problem is everyone is not on the same page in the industry,” he argued.
“There are so many levels of fishermen, middlemen or sellers - people who own restaurants and have a boat. There’s no collaboration among the fishing community to say this is the minimum price or approved price of grouper. There’s always an element of price war going on.
“We try to sell fish at margins that give a respectable profit. In this country there is a lot of competition among fishermen, so when customers expect a certain price they try very hard to keep that. Prices have remained stagnant, in some cases even going down for certain seafood products, which is really against market forces with costs going up and never coming down.
“There’s only so much fishermen can hike up in price when it’s their family, friends, middle income Bahamians who want fish. They cannot say come and eat this Business Licence fee right now to make up for an increase.”
AML Foods exploits technology to ease VAT pricing transition
EAT - from page B1
through, and so tonight, around about midnight, all of our shelf tags will reduce,” Mr Butler added. “So all of our price tags are connected wirelessly, and so we’re able to just use our computer system to put through price changes. We don’t have to price every item.”
Mr Butler said AML Foods sources product from Bahamian farmers and fishermen, supporting the Davis administration’s push for food stability. “In addition to that, Prime Minister, one of the things we’re very proud of is our commitment to sourcing from locals,” he said.
“As you know, the Cargill family, you talked about the Golden Yolk programme, which is one of the things that’s very dear to your administration. We buy all of his eggs. So everything he produces, I can tell you, he has no ability to sell to anybody else because he can’t produce enough.
“And what you saw today in the store may have been non-local eggs, but that’s because he doesn’t have enough. But I want to assure you that, as chairman of AML Foods, we’re fully committed to supporting Bahamian farmers, Bahamian fishermen. So we do use some of the brokers, like Tropic Seafoods and Paradise Fisheries, to stock our
‘Timely and transparent’ details urged as Gov’t, developer silent RESORT - from page B1
deal had collapsed, pledged that “within the next two weeks” it will officially announce the beginning of development and construction work at the resort, including the “start date for site demolition and preparatory works”.
That deadline, though, has come and gone, having expired in early March, with some observers now growing increasingly sceptical that the Government is simply stringing it out, and keeping the Concord Wilshire deal alive, for election purposes and will then switch to alternatives if the Davis administration is re-elected to office following a general election that most expect to be called during the first half of May. Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, on Monday brushed away efforts by the media to obtain an update on the Grand Lucayan deal’s progress by suggesting that Concord Wilshire should be contacted. Tribune Business attempted to do just that, but efforts to obtain comment via the developer’s attorneys, Dupuch & Turnquest, produced no reply by press time last night.
The GB Chamber, meanwhile, said the Grand Lucayan situation highlighted the “growing need
for timely communication and meaningful engagement on several critical issues impacting Grand Bahama’s economic future” if business and investor confidence is to be maintained. It cited Grand Bahama International Airport’s long-awaited redevelopment, and the Government’s proposed $200m acquisition of Grand Bahama Power Company, as other projects where both private sector and the public need more timely and better disclosure so as to better judge the merits of these proposals.
“Last month, both the Government and Concord Wilshire indicated that the project was progressing and that further details, including construction timelines, would be shared within two weeks of a release from Concord Wilshire on February 23, 2026. That timeline has since passed without update,” the GB Chamber added.
“Given the scale and significance of this development to Grand Bahama’s economy, employment and investor confidence, timely and transparent communication is essential. The business community relies on clear, consistent information to plan, invest and operate effectively. Prolonged uncertainty, particularly around projects of this magnitude, impacts not only confidence but economic momentum.
NOTICE
NOTICE is hereby given that I, FRANDLEY SAINT JUSTE of Cambridge Street, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I ANNE DIEUDONNE of Soldier Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I MARC ARIOCE PETIT-FRERE of Exuma, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
fresh fish in our stores,” Mr Butler added. “And so, Prime Minister, I want you to know that all the work that you are doing, and your colleagues and your administration are doing, we are happy to support and to make sure that the Bahamian consumers across the length and breadth of The Bahamas, wherever we have stores, because we have stores now in Eleuthera, Grand Bahama, of course, here in New Providence, and, of course, Exuma. We want to make sure that we’re giving them all the best local products, and, of course, the best value as we think about what your administration has done in the reduction of VAT.”
“This principle extends beyond any single development. As a Chamber, our focus remains clear: Supporting businesses and working together to grow Grand Bahama. Achieving this requires open communication, alignment and visible progress across all major initiatives that influence the island’s economic future, and we cannot risk the continued stalling of key projects that are critical to that progress.”
Expanding its concerns beyond the Grand Lucayan, the GB Chamber added: “In that regard, continued clarity and engagement are also needed on critical infrastructure matters, including the redevelopment of the Grand Bahama International Airport and the proposed acquisition of the Grand Bahama Power Company. Timely, co-ordinated updates from all relevant stakeholders - supported by clear plans and meaningful engagement with the business community and residents - are essential.
“In relation to the proposed GB Power acquisition, the Chamber supports the use of independent expertise, but emphasises that the process must be transparent and include clear communication and meaningful stakeholder engagement. While there have been a number of public announcements across major initiatives, there remains a need for greater transparency, dialogue and shared
Philip Davis KC said retailers, including members of the Retail Grocers Association, “have committed to working with us to ensure that these savings are passed on directly to you, the consumers”.
“A government can act where it has the power to act, and this is one of those areas,” Mr Davis said. “I want the Bahamian people to know we did not do this alone. We did not do this alone. I had the pleasure of meeting with the Bahamas Retail Grocers Association, along with Mr Franklyn Butler, who is the chairperson of AML Foods, and I’m happy to say that our retailers have committed to working with us to ensure that these savings are
understanding of the path forward.
“We acknowledge the complexity of developments of this scale, and remain encouraged by the opportunities they represent. However, real progress must be demonstrated not only through announcements but through consistent updates and visible advancement.
The Chamber respectfully calls for clear communication on the status of the Grand Lucayan redevelopment, including next steps and realistic timelines, as well as continued transparency on broader infrastructure priorities,” the GB Chamber continued.
“Grand Bahama’s future is not dependent on any single project, but it will be built through co-ordinated action, shared commitment and a clear path forward.”
Tribune Business revealed last week that the Grand Lucayan’s electricity supply has been turned off for a second time, with the resort now lacking both power and water due to unpaid billing arrears amid the wait for its sale to close.
Part of the reason the deal has taken so long to negotiate and close is that Concord Wilshire has been locked in talks with both Disney Cruise Line and Mediterranean Shipping Company’s (MSC) cruise arm about both companies using parts of the Grand Lucayan property for waterbased adventure parks for their passengers.
Concord Wilshire has always signalled that it will function as a
NOTICE
NOTICE is hereby given that I STACY FANKEA DUBREUS of Bacardi P.O.Box #10389 Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I NORDELLA DIANA DALEY-TURNQUEST of #4 Oak Court East Park Estate Prince Charles P.O. Box N1686, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I SHANIKA EDOUARD of P.O. Box 86B, of Podleo Street, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
passed on directly to you, the consumers.
“That is the kind of partnership this country needs from a government and the private sector - the Government and the private sector working together so that people could save more of what they spend.
“And, during my walk around in this store [Solomon’s Fresh Market Harbour Bay], Mr Butler and I discuss the removal of Customs import duty off fresh vegetables, fruits. And he demonstrated to me how that has impacted, and has left more money, in shoppers’ pockets. And so I’m happy to see that this partnership will continue to work, to work to ensure that we bring some relief to our
master developer, entering into contracts with different operating partners to manage and run separate parts of its project. A Hiltonbranded hotel will act as the revived Grand Lucayan’s anchor, while Tribune Business has previously reported that renowned Australian golfer, Greg Norman’s, company was being tapped to manage the upgraded golf courses. Other brand and operating partners will be hired to oversee assets such as the different hotels, the casino and marina.
Tribune Business previously reported that the conveyances, transferring title and ownership of the Grand Lucayan from the Government’s special purpose vehicle (SPV), Lucayan Renewal Holdings, to Concord Wilshire’s own Bahamian-domiciled entity, were completed prior to the much-touted Heads of Agreement signing in May 2025. It is also thought that the resort’s acquisition has been structured as a so-called “take-down purchase”, meaning the $120m sales price will be paid in installments by Concord Wilshire. As the developer demolishes each new part of the existing Grand Lucayan, a new portion of the purchase price will be paid to the Government. The $120m has not been paid yet, while the transition and handover to the developer has been a protracted affair.
This newspaper understands that there has been some reluctance by the Government to grant all the
Bahamian people. And I’m committed to working with the Retail Grocers Association to find ways and means to make sure that we do that,” Mr Davis added.
“So I also want to say this. Cutting VAT is only one part of the job. Making sure the benefit reaches the public is the other part. The savings from this change must be passed on to the Bahamian people, because this is your relief. My government has worked step by step to ease the strain on Bahamian households. So, we reduce VAT. We raise the minimum wage, remove import duty on many food items, and now we are removing VAT on unprepared food altogether.”
tax breaks and other investment incentives that the buyer is seeking. Concord Wilshire is thought to be arguing that it needs significant concessions given that it is trying to revive a stopover tourism market that sources say is “100 percent dead”, but the Government’s concern is understood to be that it would have to give the same tax breaks to other major investors such as Atlantis and Baha Mar, which have “most favoured nation” clauses in their own Heads of Agreement that state they are to be treated no less favourably than other resort investors.
The Government is thought to have been subsidising the Grand Lucayan’s operations by between $1.2m to $1.5m per month ever since it acquired the resort from CK Property Holdings, Hutchison Whampoa’s real estate arm, six-and-a-half years ago.
Some $17.882m was used for this purpose during the 2022-2023 Budget year and, during the first nine months of the following fiscal period, $16.632m out of the $17m allocated was spent on subsidising the Grand Lucayan.
A further $17m was estimated for the 20242025 fiscal year, with some $15.888m already spent during the nine months to end-March 2025. This pace placed the resort on track to require a $21m-plus subsidy for the full 2024-2025 fiscal year, meaning it would overshoot its Budget allocation by $4m.
NOTICE
NOTICE is hereby given that I TAMPSON DELSONNA of George Town Exuma, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I EVENISHA RANISHA JOSEPH of Cowpen Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I ANDRICKA GABRIELLA KRISTEE SAIMPHILUS of Hibiscus Lane, off Soldier Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 25th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
Trump officials exempt oil and gas drilling in the Gulf from endangered species rules
By MATTHEW BROWN Associated Press
THE Trump administration on Tuesday exempted oil and gas drilling in the Gulf of Mexico from the Endangered Species Act after Defense Secretary Pete Hegseth said environmentalists’ lawsuits threatened to hobble domestic energy supplies as the U.S. wages war against Iran.
Critics said the move by the government’s Endangered Species Committee could doom a rare whale species and harm other marine life. Nicknamed the “God Squad” by groups who say it can decide a species’ fate, the comprises several Trump administration officials and is chaired by Interior Secretary Doug Burgum.
It met Tuesday for the first time in more than three decades amid global oil shocks and soaring energy prices brought on by the Iran war. The U.S. pumps more oil than any other nation, but that hasn’t
insulated it from spiking prices: The national average for a gallon of gasoline topped $4 Tuesday.
“Disruptions to Gulf oil production doesn’t hurt just us, it benefits our adversaries,” Hegseth told the committee. “We cannot allow our own rules to weaken our standing and strengthen those who wish to harm us. When development in the Gulf is chilled, we are prevented from producing the energy we need as a country and as a department.”
The exemptions were not expected to immediately impact prices for crude or at the pump. Putting new oil wells into production takes years of planning and development.
Environmental groups sought unsuccessfully to block Tuesday’s meeting and pledged to challenge the exemption. They say the exemption would speed the extinction of the rare Rice’s whale, which is found exclusively in the Gulf of Mexico.
Government biologists say
Trump says securing Strait of Hormuz is ‘not for us’
By JON GAMBRELL, MIKE CORDER and DARLENE SUPERVILLE Associated Press
PRESIDENT Donald Trump expressed frustration Tuesday with allies who have been unwilling to do more to support the U.S. war effort, telling them to “go get your own oil” as the conflict with Iran and its closure of the Strait of Hormuz sent average U.S. gas prices past $4 a gallon.
The social media post came after U.S. strikes hit the central city of Isfahan, sending a massive fireball into the sky, and Tehran attacked a fully loaded
Kuwaiti oil tanker in the Persian Gulf.
The attacks showed the intensity of the war more than a month after the U.S. and Israel launched it. The conflict has left more than 3,000 dead and caused major disruptions to the world’s supply of oil and natural gas, roiling global markets and pushing up the cost of many basic goods.
Trump, who has vacillated between insisting there is progress in diplomatic talks with Iran and threatening to widen the war, had earlier shared footage of the attack on Isfahan.
March 31, 2026.
only about 50 of the animals remain.
“If Trump is successful here, he could be the first person in history to knowingly extirpate a species from the face of the earth. That’s how precarious the condition of the Rice’s whale is,” said Patrick Parenteau, emeritus professor of law at Vermont
Fuel prices rise, rattling global markets
Iran’s stranglehold on the strait, the waterway leading out of the Persian Gulf through which a fifth of the world’s oil is transported during peacetime, has driven up global oil prices, as have Tehran’s attacks on regional energy infrastructure.
Spot prices of Brent crude, the international standard, hovered around $107 a barrel Tuesday, up more than 45% since the war started Feb. 28.
Trump directed blame at U.S. allies like the United Kingdom and France that have refused to enter a war with no clear endgame that they were not consulted on.
“You’ll have to start learning how to fight for yourself, the U.S.A. won’t be
Law School. Parenteau dismissed Hegseth’s claims of a security threat, since companies have continued to look for and extract oil in the Gulf despite legal challenges over the critically endangered whale.
Streamlined approvals for drilling
During his last days in office, former Democratic
there to help you anymore, just like you weren’t there for us. Iran has been, essentially, decimated. The hard part is done. Go get your own oil!” Trump wrote.
He singled out France for not letting planes fly over French territory while taking military supplies to Israel.
France has allowed the U.S. Air Force to use the Istres base in southern France because it had guarantees that planes landing there would not be involved in carrying out strikes.
Allies have refused to get involved
Spain, which has emerged as Europe’s loudest critic of the war, said Monday that it had closed its airspace for U.S. planes involved in the conflict.
President Joe Biden sought to ban new offshore oil and gas drilling in most U.S. coastal waters, citing the climate crisis.
President Donald Trump reversed that policy and made increased fossil fuel production a central focus of his second term. The Republican wants to open new areas of the Gulf off the Florida coast to drilling, and has proposed sweeping rollbacks of environmental regulations disliked by industry.
Hegseth told committee members Tuesday that Iran’s chokehold on traffic through the Strait of Hormuz, underscored the national security imperative of robust domestic oil production. He said litigation from environmental groups “threatened to halt” Gulf oil production.
Industry observers said the exemption could have significant implications for energy companies by streamlining approvals of new projects and impeding opponents’ ability to derail drilling plans.
Italy recently refused to allow U.S. military assets to use the Sigonella air base in Sicily for an operation linked to the offensive, an official with knowledge of the matter said, confirming a local press report. The official spoke on condition of anonymity because they were not authorized to speak publicly.
Italian Defense Minister Guido Crosetto wrote on X that Italy is still allowing the U.S. to use its bases, adding that there has been no cooling of relations between the two countries.
Journalist kidnapped in Iraq identified
An American journalist was kidnapped Tuesday in Baghdad, and Iraqi security forces are pursuing her captors, Iraqi officials said. The journalist was identified as freelancer Shelly Kittleson by Al-Monitor, one of the news outlets she worked for.
A U.S. official blamed the Iranian-backed Iraqi militia Kataib Hezbollah.
Two cars were involved in the kidnapping, one of which crashed, and a person inside was apprehended. The journalist was then transferred to a second car that fled the scene, according to two Iraqi security officials who spoke on condition of anonymity because they were not authorized to speak publicly about the case.
Dylan Johnson, U.S. assistant secretary of state for public affairs, said on X that the State Department had “fulfilled our duty to warn this individual of threats against them.”
A suspect with ties to Kataib Hizbollah was
“Serial litigation from activist groups targeting a lawful, well-regulated industry should not be allowed to indefinitely obstruct projects of clear national importance,” said Erik Milito with the National Ocean Industries Association, which represents offshore developers.
The Gulf of Mexico produces about 2 million barrels of oil a day. It accounts for almost 15% of crude pumped annually in the U.S.
The Gulf also has been the scene of environmental disasters such as BP’s Deepwater Horizon blowout in 2010 that killed 11 workers and spilled 134 million gallons (500 million liters) of oil. Rice’s whale numbers dropped 22% following the accident and could take decades to recover, scientists said.
A spill in the Gulf off the Mexican coast this month spread 373 miles (600 kilometers), contaminating at least six species and polluting seven protected natural reserves.
taken into custody by Iraqi authorities, Johnson added.
In a statement, Al-Monitor said it stands by her “vital reporting.” Kittleson has been a longtime freelancer in the region, reporting extensively from Syria and Iraq.
Another aircraft carrier deploys to Middle East
The aircraft carrier USS George H. W. Bush deployed Tuesday from Norfolk, Virginia, and is slated to head to the Middle East, two U.S. officials said. They spoke on condition of anonymity to discuss sensitive military plans.
It would be the third aircraft carrier sent out to support the Iran war, along with the USS Gerald R. Ford, which is now undergoing repairs, and USS Abraham Lincoln, which arrived in the region in January.
Trump warned this week that if a ceasefire is not reached “shortly,” and if the strait is not reopened, the U.S. would broaden its offensive, including by attacking the Kharg Island oil export hub and possibly desalination plants. Speaking at the Pentagon, Defense Secretary Pete Hegseth would not say if U.S. ground forces would enter the war. “We don’t want to have to do more militarily than we have to,” he said.
A ground invasion could alienate Iranians who despise the ruling theocracy and who rose up in mass protests that were crushed earlier this year. Some could see it as an attack on Iran itself and rally around the flag.
NOTICE
NOTICE is hereby given that KATHLEEN CHUCK of #1 Maderia Close, Killarny Shores, 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 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE is hereby given that I, SANDRA PIERRE of Marsh Harbour, Abaco, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration/Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 1st day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
SUSAN HOLMES, executive director of the Endangered Species Coalition, right, speaks in front of the Interior Department building during a rally to oppose the Trump administration’s convening of the Endangered Species Committee, in Washington, Tuesday,
