04092026 BUSINESS

‘Major health risks’: 90% in Nassau

lack piped sewerage link

BY NEIL HARTNELL Tribune Business Editor

nhartnell@tribunemedia.net

NEW Providence faces

“significant public health and environmental risks” due to groundwater contamination caused by just 10 percent of residents being connected to piped sewerage systems, the Inter-American Development Bank (IDB) is warning.

The multilateral lender, in a paper disclosing it is developing a waste water and sold waste masterplan for The Bahamas, asserted that the groundwater pollution threat was little better in Grand Bahama were just 17.7 percent of the population - less than one in five - is relying on piped systems as opposed to septic tanks for solid and wastewater disposal.

And, with existing piped sewerage infrastructure such as that maintained by the Water & Sewerage Corporation suffering from dilapidated conditions due to “decades of under-investment” and maintenance, the IDB

IDB sounds alert for groundwater contamination Also warns over landfill waste management woe ‘Abaco ‘dump’ fire shows $1m masterplan need

added that the masterplan is critical to cutting pollution, protecting The Bahamas’ scarce groundwater resources and improving the country’s resilience to hurricane-related flooding and storm surges.

“In The Bahamas, waste water services are severely under-developed with only about 10 percent of the population in New Providence and 17.7 percent in Grand Bahama connected to piped sewerage systems, leaving the overwhelming majority dependent on aging and often poorly

Marina chief ‘infuriated by victory lap’ on boating fees

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Association of Bahamas Marinas (ABM) president yesterday asserted he is “infuriated that everybody is taking a victory lap” over the boating fee reforms when nothing has been done to reverse the 40 percent decline in this nation’s

yacht charter business over the past four years.

Peter Maury told Tribune Business that, while the reinstatement of two short-term cruising permit categories will benefit Bimini, Abaco and other islands closest to the US, it only touches one segment of The Bahamas boating and yachting market and will not impact or arrest the fall-off in foreign yacht

Thursday, april 9, 2026

$ 6.64

Labour reforms ‘absolute priority’ if PLP victorious

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A CABINET minister yesterday pledged that multiple labour law reforms will be an “absolute priority” - and passed by Parliament “at the earliest possible time” - if the Davis administration is re-elected as a trade union leader demanded “a complete reformation” of Bahamian worker rights.

Pia Glover-Rolle, minister of labour and the public service, in a voice note responding to Tribune Business inquiries conceded that changes to maternity and paternity leave, and other worker-friendly changes, “just didn’t make it in time” to reach Parliament before the May 12 general election despite being both “urgent” and a “priority”. She added that the planned reforms to the Employment Act and Industrial Relations Act

charters that was sparked by a 350 percent tax rate increase in the 2022-2023 Budget.

Asserting that the boating fee reforms,

Minister: Parliament to pass maternity, other changes at ‘earliest possible time’ if we win

But TUC president demands ‘complete reformation’ and urges parties to back 21 reforms

Urges all workers to vote, and asserts: ‘You can’t disregard people that put you in office’

are now with the draftsmen, who write and craft the Bills passed into statute law, at the Attorney General’s Office and asserted that they will be “one of the first items we take to Parliament” post-election if the Progressive Liberal Party (PLP) is returned to office.

Mrs Glover-Rolle spoke as Obie Ferguson KC, the Trades Union Congress (TUC) president, set out a position demanding that the major political parties “commit to supporting the

implemented on April 1, are “too little” to address the charter drop-off, he estimated it could take up to two years for The Bahamas to win this business back once it implements the necessary changes that include making the entry/ clearance process more efficient by placing it online and lowering the present 14 percent charter fee tax to a rate that is “competitive” with Caribbean rivals.

implementation of 21 key items for Bahamian workers” if they win the Government following the May 12 vote.

Besides committing to a so-called “livable wage” for Bahamian workers, the umbrella union and its affiliates are also urging the parties to back multiple labour-friendly reforms including “redefining wages to include tips and gratuities” - a condition that the Davis administration’s

proposals included - as well as “guaranteeing 16 hours of rest between shifts” and “automatic agency shop recognition” where non-unionised workers would

Liquor merchants: Business Licence process at ‘standstill’

BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

MANY liquor merchants yesterday said they have still to receive their Business Licence even though the April 1 deadline for enforcing the industry’s new regulatory regime has passed.

George Robinson Jnr, owner and operator of Base Road Wholesale Bar, said he is unsure if enforcement has begun especially since many vendors have not yet received their Business Licence from the Department of Inland Revenue (DIR). He said he has not heard from the tax authority on how it plans to move forward.

“Somewhere there is a delay. Something went down. I don't know what it is, but nobody's getting their Business Licence.

According to my members, a lot of them haven't seen any enforcement yet

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

because, like I said, a lot of people haven't gotten their licence yet,” he added.

“I can’t put in for it [Business Licence]. We complied with the registration but we haven’t gotten the registration certificate. It’s like they [Department of Inland Revenue] just went off the radar.

“All my members who I spoke to, nobody got approved yet with the registration. You need the registration card to apply for the Business Licence. And it’s like everything is just at a standstill right now. So we don't know what's going on,” Mr Robinson said.

“My task manager, I try to hit them up [but] I can't get no response from him. I had my accountant looking into it, but nothing. They're not saying anything. Like I said, I haven’t seen any enforcement yet because the problem lies

FINCO’s 2025 year-end accounts show it incurred $3.486m in gross corporate income tax for the period. However, when this is offset against the mortgage lender’s $567,861 in Business Licence fee payments, the net amount of corporate income tax owed to the Public Treasury for the 12 months to end-October 2025 is reduced to $2.918m. “We are pleased to report that net income before tax for 2025 was $23.2m, exceeding our plan by $3.7m or 19 percent,” Mr Burrows wrote. “This achievement was driven FINCO beats pre-tax profit forecast by 19% MORTGAGE - See Page B10

ROYAL Bank of Canada’s (RBC) Bahamian mortgage lending arm beat its 2025 pre-tax profit projections by $3.7m or some 19 percent due to lower loss provisions, its managing director has revealed. Dwight Burrows, managing director of BISX-listed Finance Corporation of The Bahamas, told shareholders in the company’s just-released annual report for the 12 months to end-October 2025 that pre-tax profits of $23.2m had surpassed management’s internal forecasts. That latter figure represents profits before factoring in the 15 percent corporate income tax that FINCO must pay, as part of RBC’s multinational group given that combined annual turnover exceeds 750m euros, under The Bahamas’ newly-enforced Domestic Minimum Top-Up Tax regime. This is now in its first year of implementation in a bid to comply with the G-20/OECD minimum global corporate tax initiative.

Eleuthera residents voice fears over $650m project

BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

GOVERNOR’S Harbour residents yesterday voiced fears that their community will lose its safety, intimacy and remoteness if the proposed $650m J Resort destination is ultimately approved and developed as proposed.

“We are not against development” was a common theme expressed by many as they stated misgivings about the scale and density of the current plans put forward by Jeff Jacobs, chairman and chief executive of Jacobs Investments.

He has promised the resort, marina and casino facilities, and five resort-related neighbourhoods, which will encompass 600 acres and stretch across the entire island, will be developed in close consultation with the local community.

“We are not building a casino resort like Atlantis or Baha Mar,” he said. “We are building a boutique

resort with a James Bondstyle gaming salon as an amenity, giving folks with a lot of dollars another reason to visit Governor’s Harbour.” However, Governor’s Harbour residents say the project does not fit the remote feel of the community. Doon McKinney, who has lived in Governor’s Harbour for 51 years, said she and many others do not want what Mr Jacobs said would be a “game changer” for the area.

“Everybody I've talked to is shocked and outraged and disappointed, and feel like it's the worst idea,” she said. “It doesn't fit for this island. We don't want a big game changer. We don't want neighbourhoods with 500 houses in them. We don't even have land and enough housing for the local people... Nobody wants it and I certainly don't.”

A resident, speaking on condition of anonymity, said the development sounds massive and is “foreign to what is native to this area”.

They added: “I live right in the heart of Governor's Harbour, so this would directly impact how we live and where we live. So I would start by saying I am not at all against development. I think development is the only way we grow and thrive.

“However, that being said, this particular development and then the one also that's proposed in Gregory Town, are so massive and so, I would say, foreign to what is native to this area that I don't think the way they're going about it is going to be good for Governor's Harbour. I think that it's too much.”

They source said: “We are not the Virgin Islands. We are not some fancy resort town. We're a normal Family Island where people live out their lives as Bahamians. And do we want development? Yes. Do we want tourism dollars? Yes.

“Do we want our whole community to look like some place in South Florida or some other highly developed high-end housing with

Planning critical to making successful business journey

Every thriving busi-

ness, whether it is a bakery or a technology company, should start with a clear strategic business plan. Imagine that you are going on a road trip. You know where your final destination is, but you have not quite figured out how to get there yet. While it might be fun to start driving, while figuring things out as you move along, your trip will likely take longer than expected and perhaps cost more. But if you take the time to look at a map and chart the best way to get to your destination, you will arrive on time and on budget.

But what is a business plan? And why is it such a powerful tool for entrepreneurs and investors alike? A business plan is more

than just a document. It is the blueprint for your success, the written expression of your vision, strategy and the exact steps you will take to make it happen.  Likewise, it does not just outline your ideas. It proves to lenders, investors and stakeholders that you have done your homework, understood your market and have a realistic path to profitability.

What is the purpose of a business plan?

The primary purpose of a business plan is to help you figure out where you want to go with your company, and how you will get there. Writing a business plan takes some of the risk out of starting a business. It helps you think through every facet of your

operation to determine if it can truly be viable, such as:

* Does your solution fit the market? Are your startups or operational costs manageable?

* Will your proposed business model actually generate sales?

* What sort of milestones would you need to hit to achieve profitability?

* A business plan will help you think about target market and budget. How much money you will need to launch, and how your idea will actually work before you spend any real money.

* Understand your market and build a marketing plan

JOB VACANCY

PROJECT ENGINEER

Ocean Cay – MSC Marine Reserve – The Bahamas

Full-Time | Site-Based | Rotation or Permanent Assignment (as applicable)

Job Purpose: The Project Engineer will support the Technical Manager in managing and coordinating engineering and architectural design, quality control, and construction activities to ensure the successful delivery of complex infrastructure, civil, and/or building works in The Bahamas (MSC Cruises Ocean Cay). Responsibilities include reviewing and approving engineering and architectural drawings and construction documents along with coordinating all aspects of the projects such as: project management and administration, design and construction management, project performance, developing and controlling financial metrics and project schedules; and developing, planning, and enforcing quality assurance of project deliverables.

Key Responsibilities:

• Support the Technical Manager in the review and implementation of engineering and architectural designs, technical drawings, and specifications.

• Coordinate with design consultants, subcontractors, and construction teams to ensure works are executed in compliance with project requirements.

• Monitor daily site progress, prepare technical reports, and raise technical queries as needed.

• Assist in reviewing and managing RFIs, shop drawings, and material submittals.

• Ensure adherence to QA/QC protocols and perform site inspections to validate workmanship and material compliance.

• Participate in planning and scheduling of construction activities, supporting project timelines and milestones.

• Contribute to site logistics planning, especially considering the constraints of working on a remote island (e.g., limited access, weather conditions, material delivery).

• Work closely with HSE teams to uphold safety standards and contribute to a zeroincident culture.

• Provide technical support during installation, testing, and commissioning phases. Project management and administration during the design and construction cycle, including technical, required manpower, schedule and financial project metrics;

• Collaborates and coordinates with other MSC Cruises internal departments and divisions;

• Supports MSC Construction Managers;

• Evaluates and reports risks along with mitigation plans;

Job Requirements: Skills, Competencies, Experience:

• Bachelor’s degree in civil engineering, Construction Management, or related field.

• 3–6 years of relevant experience in construction project engineering; island or remote-site experience is an advantage.

• Familiar with international construction standards and codes (e.g., BS, ASTM, ACI).

• Proficient in MS Office Suite, AutoCAD, MS Project, and other engineering/project management software.

• Strong communication and coordination skills with multidisciplinary teams

• Ability to work under pressure and adapt to isolated, resource-limited environments.

• Excellent knowledge of construction materials and equipment, as well as construction means and methods;

• Excellent time management, communication, negotiation and interpersonal skills;

• Experience in Design-Build, CMAR, and other project alternative delivery methods;

All interested appicants can forward their resumes to hr@mscoceancay.com

ONLY short listed candidates will be contacted

gates and whatever? No, that's not who we are. And so if it goes that way, I think Bahamians will be completely priced out of the market. And to me, that's always a no.”

Another resident, Juanita Pinder, said the J Resort development is not a good fit for Governor’s Harbour or Eleuthera as a whole, adding that visitors come to experience tranquillity.

“I've been on this island going on almost 30 years, and not everyone wants a development to the magnitude where it's going to change the whole face of our community,” she said. “Developments that are positive are developments that come into the community and, as much as possible, try to maintain what makes sense to our environment… as well as population wise.

“Most of the resorts here are boutique-style resorts. Even vacation homes that are being rented, they're small. A lot of people come here to escape the Nassau, grand, big developments,

J RESORT

high rises and stuff like that. Not every island needs that type of development.

“While we want development, we want development that is not to the stage where it’s a disruption in the lifestyle that people have been accustomed to. A lot of people escape the big city to come for a quiet, more tranquil experience… It's almost like it's just for them to fatten their pockets, disregarding anything that the locals would want here,” Ms Pinder added.

“People want jobs, but at what price? People want to be able to still live a life where they're able get a good job, be able to afford a decent life but, at the same time, not to the point where

to start. You can work with general assumptions and compare against competitive benchmarks to set a baseline for your business.

you get thousands of people into the island that don't have a connection to the island, don't care.”

Residents also voiced safety concerns, and fear the foot traffic brought in by the J Resort development could lead to an increase in crime.

“The security concerns that people have in Nassau and big cities do not exist here,” Ms Pinder said.

“People walk the beach in the middle of the day. You could go on any beach in the middle of the day. People feel relatively safe. We have a [visiting] couple that left here yesterday. They've been visiting this Island for over 40 some

The beauty of incorporating forecasts into your business plan is that you do not need exact numbers

Subsequently, as you operate and collect financial data, you can revisit your business plan and update your forecasts to generate a more accurate picture of your company’s future. Planning for different scenarios is a viable option as things rarely actually go as planned. The world is constantly changing. Customer tastes change, and new competitors arrive. With a business plan in hand, you will be able to see what is going to plan and whether your strategy needs to adjust, or pivot to new opportunities that will drive profitability.

In essence, there are many reasons to write a business plan, and they all relate to one thing. Increasing the likelihood of success for you and your business. If you have been putting off writing a business plan, now is the time to do it. When you have a plan for your business, you have peace of mind.  Until we meet again, live life for memories rather than regrets. Enjoy life and stay on top of your game.

• NB: Columnist welcomes feedback at deedee21bastian@gmail. com

About columnist: Deidre M. Bastian is a graphic designer/brand marketing analyst, international award-winning author and certified life coach.

NOTICE

The Public Worker’s Co-operative Credit Union Limited announces that its 46th Annual General Meeting will be held on Friday, May 29th, 2026, at the National Training Agency beginning at 5 pm.

Applications are invited from members in good standing who may wish to run for the following vacant positions: Board of Directors (2 vacancies); Supervisory Committee (1 vacancy) and Credit Committee (1 vacancy).

Nominations forms are available at our Nassau and Freeport offices or by emailing sthompson@pwccul.com & edavis@pwccul.com

Completed Nomination forms, along with a cover letter and resume must be submitted by 5 pm on Friday, May 1st, 2026, either by delivering to any of our offices or via the emails listed.

No nominations will be allowed from the floor.

Bahamian chef to lead Margaritaville’s food art

MARGARITAVILLE

Beach Resort Nassau has named Chef Basil Dean, a native of New Providence, as executive chef with more than three decades of global culinary experience.

The downtown Nassau hotel, in a statement, said Chef Dean, who has more than 12 years of experience as an executive chef, will lead culinary operations across the property’s nine dining venues, including its main restaurant, JWB Steak & Seafood. From menu development to execution, he will also oversee presentations for weddings and private events.

“We are thrilled to welcome Bahamian local Chef Dean to Margaritaville Beach Resort Nassau,” said Shyam Lalu, the resort’s general manager.

CHEF BASIL DEAN

each dish meets Margaritaville Nassau’s standards for taste, quality and presentation.

from the National Association, and an advanced ice carving certification from the Culinary Institute of America.

Chef Dean has previously worked at the Grand Lucayan Resort, Warwick Paradise Island Bahamas and SLS Baha Mar, as well as taken international roles at Warwick New York, Beaches Turks & Caicos and Sandals Royal Caribbean Resort & Spa.

“His knowledge of global cuisines and experience leading full-scale teams will help streamline restaurant operations and ensure our culinary department is delivering exceptional quality service to our guests.”

“As a chef who has had the privilege of cooking across a wide range of cultures, I’m honoured to bring my global culinary perspective back to my hometown,” added Chef Dean. “Sharing the techniques and traditions passed down by my mentors, while also infusing dishes with a distinctive Bahamian flair, is both a professional milestone and a deeply personal point of pride.”

Chef Dean will manage the day-to-day operations of dining concepts such as JWB Prime Steak & Seafood, Vacation Cafe, Frank & Lola’s Pizza and Wasabi Joe’s Sushi Bar, ensuring

‘Too little’ to tackle 40% yacht charters decline

SAILING - from page B1

“We already had the short-term cruising permits. All they did was give it back and decrease the fee,” Mr Maury said of the changes that introduced 30-day and three month permits. “That was something we’d been asking to have anyway. It happened on April 1, and then it was too late for Easter and the weather was

bad, so few boats came over. People just didn’t have time to plan for it. Everything was just too late.”

Despite the positive impact from the two new cruising permit categories, which are anticipated to attract “weekend warriors” and “winter snowbird” boaters back to The Bahamas as they are no longer forced to pay a higher fee for an annual permit they do not

Chef Dean began his culinary career at Bahamas Training College, completing the National Apprentice Chef programme and earning a culinary arts certification from the American Culinary Federation. He furthered his education with a food protection manager certification

need, the ABM president said the changes only impact one market segment - transient/leisure boaters - but will not reverse the fall-off in foreign yacht charters.

“They didn’t do anything about the charter fees or making that easier,” Mr Maury told Tribune Business. “People are already booking for next year in other countries because it’s too expensive here still. From a consumption standpoint, for fuel, groceries and rooms, and not just for marinas but other support services, the charter yacht industry is

He is an active member of the World Association of Cooks, Caribbean Culinary Foundation and American Culinary Foundation, and serves as vice-president of the Bahamas Culinary Association. His awards include a Five-Star Diamond Award from the American Academy of Hospitality and Science, and bronze medals from the 2008 World Culinary Olympics.

huge. These changes don’t affect that at all.

“They say, right before an election, ‘look what I did’, but they didn’t do anything. This benefits the boats that go to Bimini and Grand Bahama. It’s too little. It just infuriates me that everybody’s taking a victory lap. Some of the organisations are saying ‘look what we did’, but it doesn’t grow this industry and the supporting providers from other industries.”

The Davis administration more than tripled the tax rate imposed on foreign yacht charters in the 20222023 Budget, increasing this from just a 4 percent levy on the value of the charter contract that was paid to the Port Department, to 14 percent by the addition of 10 percent VAT. This was last year adjusted to an all-in 14 percent with VAT’s removal, with the Government justifying the hike on the basis that foreigners needed to pay for use of The Bahamas’ natural resources and marine conservation.

The move was also backed by Bahamian tour and excursion providers, who argued that the rate increase would place foreign charter competitors on a more level taxation ‘playing field’ with domestic rivals who have to pay Business Licence fees and National Insurance Board (NIB) contributions etc. There was also a feeling that many foreign charters were avoiding or evading paying the Port Department fee, or undervaluing the charter contract to lower the amount paid.

Yet such a significant tax rate increase in one go has proven too rich for many foreign yacht charters to stomach, according to Mr Maury. In a recent Facebook post he wrote: “Due to the excessive fees and procedures we lost about 25 percent in direct revenue and a reported 40 percent in direct charter bookings.

“This represents roughly $118m in lost revenues for Bahamian businesses in everything from marina bookings, groceries, restaurants all the way down to pedicures and dog groomings.

“I’m not an economist but if we added this very important source of revenue for Bahamian businesses back into the economy wouldn’t this bring down the Government’s [deficit] shortfall annually and add money back into Bahamian pockets?. It certainly wouldn’t hurt because gas and electricity getting expensive, you know.”

Mr Maury told Tribune Business yesterday that he is “not saying there should be no fees or processes” for foreign yacht charters - but any levies have to be competitive with those charged by Caribbean rivals, while clearance and entry into The Bahamas should be a seamless online process.

“We have Bahamian captains running mega yachts in the Caribbean,” he said.

“The benefits are that it’s easier for them to check in, easier for them to pay the fees, and it’s not too expensive. If we have Bahamian captains on foreign-flagged yachts in other countries telling us that it’s important we look at that and make the rates competitive with the region. Then we can start seeing boats again.

“Fuel, water, transportation, support businesses. Bahamians were getting involved in this more than I had ever seen before, and that was all taken away. It’s a terrible way to treat Bahamians in the industry and a terrible way to try and grow it.”

When asked by this newspaper how long it will take for The Bahamas to regain its competitive edge in the yacht charter business, Mr Maury replied: “I think we’re looking at a couple of years… I would take it back to a reasonable rate that compares to other countries in the region, and put everything back online.

“It really benefits the islands in the southern Bahamas that don’t have the cruise ships. These yachts go down to the islands that the 30-day cruising permits are never going to see: Long Island, Crooked Island, Mayaguana and Inagua. It’s the big boats that go down

that far because they can afford to stay there….

“I think we have hurt our credibility. Everybody saw the videos where they [boaters] said they were boycotting The Bahamas. That was embarrassing. In my 35 years in the industry I’d never seen anyone say they were boycotting The Bahamas or not going to come. It was pretty damaging and talked about everyone in the industry.”

While backing the need for environmental conservation and marine protection, the ABM president argued that this can only be properly financed if visiting boaters come to The Bahamas so that they can contribute. And he asserted that The Bahamas needs to adjust its VAT regime to enable foreign yacht charters to reclaim tax paid on their input expenses as a means to encourage them to buy food, fuel and other supplies locally.

“One of the reasons VAT works in the rest of the world, but not here because we don’t follow it, is because we use it to encourage local consumption,” Mr Maury said. “We don’t even encourage the boats to stay here long-term because it’s much cheaper to sit back in the US, because they are getting fewer charters, and come back when they have one.” And he also argued that “there’s no no way to upload your documents and pay your fees” as a visiting boater after the ABM was ordered to take down is SeaZPass online portal solution by the Ministry of Finance. Mr Maury said the $3.355m contract awarded by the Government to DigieSoft Technologies has yet to produce a replacement solution some four years later. And, as for the cruising permit fees, the ABM president said some boaters who paid for the annual cruising permit or two-year frequent digital cruising card (FDCC) prior to the latest reforms are now inquiring whether they can get a partial rebate as they would have preferred a shorter stay and lower fee. “Any Bahamian can tell you: Good luck with that,” Mr Maury said.

Grant Thornton back in Bahamas through forensic specialist tie-up

THE Grant Thornton accounting firm has returned to The Bahamas by tapping well-known forensic investigator, John Bain, as its managing partner.

Grant Thornton (Cayman), in a statement, said it has expanded its footprint to The Bahamas where it will operate as Grant Thornton Attest (Bahamas). Mr Bain, who previously headed his own Nassau-based firm, JSB Global Solutions, specialises in forensic accounting, insolvency and financial investigations.

Mr Bain will work alongside the managing partner of Grant Thornton Cayman, Dara Keogh. “We’re bringing something unprecedented to professional services in The Bahamas: Multinational scale combined with agility, focus and exceptional client service at a local level,” said Keogh.

“Clients need insights and assurance in areas of growing importance — from AI-enabled decision-making to compliance and cyber security. They’re looking for firms that can move quickly and simplify complexity, not add to it. That’s exactly what they’ll find in Grant Thornton Bahamas. I am grateful to John for bringing his incredibly impressive range of credentials, proven

skills and experience to our firm and our clients.”

Mr Bain added: “Organisations in The Bahamas are evolving rapidly. They are becoming more global, their risk environments are more complex, and the technology they rely on is advancing.

“Grant Thornton Bahamas is well positioned to meet that moment, combining the strength of nearly 25,000 professionals with leading-edge technology, innovative services and a people-focused culture. I thank Dara and his team for their confidence and

Sold-out runway show leads

off Freeport Fashion Week

FREEPORT Fashion Week opened with a soldout runway show at The Stoned Crab restaurant on Friday evening as 300 guests attended an event held under the theme, ‘Dream in colour’.

Freeport Fashion Week, in a statement, said the third annual version of the event brings together designers, creatives and fashion enthusiasts for a weekend dedicated to style and innovation.

Guests were greeted by a red-carpet experience hosted by Wybe Magazine and The Social Circle with Matt & Anthea, setting the tone for an evening that blended glamour with island flair.

The runway featured designers including Hardour Collection, Kani, Gustavus Augusta, Bella Vissi, KDW, Gifted Hands, Anari Deangelo, Pastry Boy and Veronica Ellis, each presenting distinctive collections that showcased contemporary fashion, couture and Caribbean-inspired design.

partnership on this important milestone.”

Mr Bain most recently served as the managing partner of JSB Global Solutions, a Nassau-based accounting firm providing audit, advisory, forensic accounting, insolvency and litigation support services to financial institutions, corporations and public sector entities. He frequently serves as an expert witness and court-appointed practitioner in matters before the Supreme Court of The Bahamas.

He is a fellow of the Association of Chartered

Certified Accountants (ACCA) in the UK, and a fellow of The Bahamas Institute of Chartered Accountants (BICA). He is also a fellow of INSOL International, the global organisation of insolvency and restructuring professionals.

As an extension of Grant Thornton’s Cayman firm, Grant Thornton Bahamas will be part of the multi-national platform established in 2025 by US-based Grant Thornton Advisors LLC. Since launching that platform, Grant Thornton Advisors has expanded to

17 firms, including Grant Thornton Cayman, which joined the platform almost one year ago as only the second firm to do so.

The Grant Thornton Advisors platform currently spans the Americas, Europe, the Middle East and the Asia-Pacific region - and includes Grant Thornton firms in the US, Belgium, Brazil, the Cayman Islands, the Channel Islands, Denmark, France, Ireland, Luxembourg, the Netherlands, New Zealand, Poland, Puerto Rico, Spain, Switzerland/Liechtenstein and

“This year’s opening night truly captured the spirit of what Freeport Fashion Week is becoming,” said Fatima-Zahra Kaboub, chairman of Freeport Fashion Week. “Our goal has always been to create a platform that celebrates creativity, highlights talented designers, and brings the community together through fashion. Seeing such incredible support and a sold-out audience reminds us how powerful these creative experiences can be for our island.”

the United Arab Emirates. It also includes Auxis, an outsourcing and business modernisation practice, and Stax, a specialist in commercial due diligence and value creation. Together, these firms form an almost 25,000-strong multinational group delivering cross-border solutions. Grant Thornton Cayman is also part of the Grant Thornton International Ltd network, which provides access to its member firms with 80,000 people in more than 150 global markets.

Dr Telina Smith, human resources director at the Grand Bahama Port Authority (GBPA) and committee member for Freeport Fashion Week, added: “Opening night was a powerful reflection of the creative energy and cultural pride that exists in Grand Bahama. Events like this not only showcase talent but also strengthen our community by creating meaningful opportunities for expression, collaboration and growth within the creative industries.”

The evening concluded with a Junkanoo rush by Platinum Knights, followed by a fireworks display from Fireworks Unlimited.

Freeport Fashion Week’s opening night was sponsored by the GBPA, with contributions from The Stoned Crab and Jimmy’s Wines & Spirits. Proceeds from Freeport Fashion Week will be donated to sewing and fashion design programmes in local high schools, supporting the next generation of creatives and helping to inspire young designers across Grand Bahama.

TUC chief alleges just two of 22 MoU conditions met

have to pay a fee to cover collective bargaining costs.

Mr Ferguson, speaking to this newspaper yesterday, again voiced displeasure by asserting it was “ridiculous” that the Davis administration had allegedly only fulfilled two of the 22 pledges in the pre-2021 general election memorandum of understanding (MoU) that the then-opposition PLP had signed with both the TUC and National Congress of Trade Unions (NCTU).

Citing a long list of “outstanding” issues and grievances that the current administration had yet to address, the TUC chief also dismissed the Government’s assertion that it has signed 50-plus industrial relations agreements and deals since taking office - a position that it argues contrasts sharply with its Minnis administration predecessor.

Mr Ferguson, noting that The Bahamas’ 220,000230,000 strong labour force provides a powerful voting bloc for the upcoming general election, warned that politicians “cannot disregard the people that put you in office”. He added that the TUC and its affiliates are encouraging all members to vote in the best interests of themselves and their families, and are pushing the “basic philosophy” of “I for you, you for me”.

“If you [the Government] are not doing anything, then I must tell them, as a leader,

don’t support people who don’t support you. Simple,” Mr Ferguson added. “If they have not done anything for you, why vote for them? The power of the people is greater than the power of the people in power.”

Mrs Glover-Rolle, meanwhile, said the Davis administration will not ignore or forget the much-debated labour law reforms that she and her ministry were pushing in 2025 and earlier this year prior to confirmation of next month’s general election.

“The reforms are at the drafters with the Attorney General’s Office being drafted,” the minister affirmed to Tribune Business.

“So, unfortunately, they weren’t completed before the Prime Minister was able to call the election.

Acknowledging that the Davis administration had wanted to pass these legal changes through Parliament and into law before the general election, Mrs Glover-Rolle added: “But once the Davis administration takes office again, it will be one of the first items we take to Parliament.

“It has already been to Cabinet during the initial consultation process twice. The next time, once the drafting is completed, then of course it will go to Cabinet for final viewing and to get the permission to take it to Parliament. That’s basically it. Fortunately, it’s only drafting now.

“We are at the mercy of the draftsmen and they have

NOTICE is hereby given that I ENA FERDINAND of Dunmore Street, Harbour Island, Eleuthera, 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 9th 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 GREGORY GEORGE BUCHANAN of, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 9th day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

a heavy load so, unfortunately, while it was urgent and a priority for us it just didn’t make it in time as we would have [liked]. But it’s an absolute priority for round two, and we look forward to bringing that legislation to Parliament at the earliest possible time once the election has passed and we are returned to governance.”

The proposed Employment Act and Industrial Relations Act reforms would, if they become law, impact and touch virtually every employer and worker in The Bahamas. They included extending maternity leave to 14 weeks and accommodations for adopting and breast-feeding mothers, while it was proposed that fathers will be able to take two weeks’ paternity leave “once every three years”.

Other changes to the Employment Act proposed introducing “mental health wellness leave” of three unpaid days per annum, while a paid daily work “break” will also be mandated. And, while an employer and employee can agree to the latter working up to 10 hours per day, overtime has to be paid for two hours as this exceeds the standard eight-hour day.

A requirement for a minimum eight-hour break between shifts was also included in the proposed reforms. The Employment Act revisions also “eliminate” the current distinction in section ten concerning

overtime for workers who receive the majority of their pay in tips, while managers and supervisors will now “be given time off for overtime hours worked”.

As for the Industrial Relations Act, the proposals include strengthening the “conciliation process” involving employer/ employee disputes by giving the Department of Labour “more power to address those matters that really have no merit” prior to being referred to the minister and, subsequently, to the Industrial Tribunal.

Mr Ferguson and the TUC, though, wasted no time in seizing on the opportunity afforded by the general election. Among the 21 items they want the political parties to commit to is “improving redundancy pay based on years of service”, meaning that this would no longer be capped at 12 weeks or 12 months in the Employment Act for line workers and managerial staff respectively.

While that may produce fairer compensation for persons who have worked for an employer for more than 12 years, it would likely make it cost prohibitive for companies to terminate long-serving staff. Other demands include “National Health Insurance for all”; the provision of land for unions to construct their headquarters’ buildings; full implementation of the Health and Safety at Work Act; and the creation of a National Redundancy Fund

NOTICE

NOTICE is hereby given that I AZAIR ACCIVIL CAMEUS of The Bluff, Eleuthera, 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 2nd 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 JOHNNY SEVERE of P.O.Box: General Delivery, Rock Crusher, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 9th day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

to ensure Bahamian workers receive what is due to them when companies collapse, are liquidated or exit this nation without paying their liabilities.

The latter has been heavily resisted by Bahamian employers, but Mr Ferguson yesterday said himself, the TUC and its affiliates were “very surprised” that the Government had not been more aggressive in advancing the labour reforms because “the workers have issues:.

“We have 220,000 working people in The Bahamas, and the stuff we asked to be done from four years ago was basic,” Mr Ferguson told Tribune Business. “We asked for the House of Labour [on Wulff Road] to be refurbished. We were promised it would happen and it did not happen. We asked for redundancy provisions to be put in place for workers, and that didn’t happen. We asked for a livable wage; that didn’t happen.

“We asked for a National Redundancy Fund to be put in place for when these companies go belly up. That wasn’t done. We asked for trade union education to be subsidised by the Government and the unions. That didn’t happen. We asked for a guaranteed 16 hours of rest between shifts. We signed the agreement [with the PLP] and it has not been honoured. We asked for nurses to be paid for overtime, and for regularised promotions and transfers. That has not been done.

“The House of Labour is still outstanding,” the TUC president added. “To me, it’s ridiculous. That agreement was signed by the then-Opposition leader. Out of 22, I know two real issues have

been dealt with; 20 of them are still outstanding… It just can’t take four years to do some of these basic things,” Mr Ferguson added.

“If you can’t live up to it, meet with the unions, negotiate with them and cut a deal where you say: ‘I know we signed off on it but we can’t do it all at once. I’m going to suggest a schedule for doing this.”

Signalling that he wants Bahamian workers, and especially union members, to use their voting power at the polls, Mr Ferguson told this newspaper: “You cannot disregard the people who put you into office. I go back to the basic philosophy: ‘I for you, you for me’. We need a complete reformation.

“We are asking all workers of The Bahamas to go out to the polls and vote, and to vote their interests. Don’t vote for somebody else’s interests. Vote for yourself and your family. Healthcare is terrible in this country. You go to Princess Margaret Hospital. It’s in a state that is not acceptable for a civilised country. When I say these things they get mad, but I don’t care. You have to protect your people and Bahamians aren’t stupid.

“This comes around every five years. That’s the message we will be running from today until the general election. That’s going to be a continuous effort to make sure the workers’ issues are dealt with and on the agenda and, after the election, whoever is the Government we will fight them on protecting the interests of Bahamians.”

Mr Ferguson and the TUC, in their position paper yesterday, pledged to hold the next administration “accountable” for addressing the concerns of Bahamian workers regardless of who wins on May 12.

NOTICE

NOTICE is hereby given that CONSTANTINE WILLIAMS of, Yamacraw Hill Road, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 9th 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, VALDO

of #10 Montague Villas, 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 2nd 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 STACY DUVEAU of Percy Munnings, 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 2nd day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I OLIVER RICHARD LEVY of South Ocean BLVD, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Abaco landfill waste burning is branded ‘really hazardous’

functioning septic tanks that contribute to groundwater contamination,” the IDB report said.

“The country faces frequent failures of wastewater lift stations, leading to service disruptions, sewer overflows and significant public health and environmental risks. Infrastructure is deteriorated due to decades of insufficient maintenance and under-investment, while regulatory and governance frameworks remain fragmented and outdated, limiting accountability and the ability to enforce standards.

“A wastewater master plan is therefore essential to guide investments, reduce pollution, rehabilitate critical infrastructure, expand sewerage coverage, protect vulnerable aquifers and build resilience against climate-related flooding and storm surges.”

The IDB report added that The Bahamas’ solid waste management situation is not much better, although it appeared not to give credit to the improvements made at the New Providence landfill since a private group took over its operations.

Vendors

Now renamed the New Providence Ecology Park, major fires that plagued the facility when it was managed by the Government through the Department of Environmental Health Services (DEHS) have largely been eradicated under the consortium featuring Providence Advisors, the Bahamian financial services provider, and local waste services collection providers. The IDB report though, somewhat surprisingly, said fires at the landfill still “endanger communities”.

“The country’s current urban solid waste sector is underfunded, fragmented and environmentally unsustainable, with most islands lacking engineered landfills and relying instead on open dumps, periodic burning and poorly managed disposal sites that pose major health and ecological risks,” the IDB reporrt said.

“Recycling is minimal due to high transport costs and the country’s archipelagic geography, while hazardous waste remains largely unregulated and improperly handled. Landfill fires continue to endanger communities, and smaller Family Islands have inadequate collection and disposal services. Financing constraints, the absence

waiting to see if Gov’t ‘enforces rules’

APPROVAL - from page B1

on their end. It looks like they’re giving us some little leeway.”

Andrew Smith, based in Exuma, owns a laundromat with a bar built into it.

Following the Department of Inland Revenue’s plans to enforce the new liquor regulatory regime, he has put up a wall to separate both businesses but has not received his Business Licence yet either.

“I haven’t received my licence yet. But, you know, on a Family Island, a lot of times things just extra slow. I’ll get sorted out. Actually, mine is in right now, so I’m

Residents dislike small casino plan

CONSTRUCT - from page B3

years. People want to see development, but people want to also feel safe. They want to come to some place that that still has an island feel…

Ms McKinney said a casino can also raise security concerns. “First of all, we don’t want a casino here,” she said. “Everywhere they put a casino in, they’ve had to put a jail. We trust each other here.

“They say it’s [going to be] a very high-level casino. Personally I don’t want any casinos… I’m a Bahamian. I’ve lived in Governor’s Harbour for more than 51 years, and we’re an intimate, close-knit community. Everyone knows my

just waiting on them. But it’s just another day. It’s just another day in Paradise,” he added.

Mr Smith said the Government’s focus should be on New Providence to tackle the oversaturation of liquor establishments Overthe-Hill and in other inner city areas, and he urged authorities to beware of imposing too much red tape as small and medium-sized businesses play a significant role in the country’s economy. “In any major country, in any country actually, small businesses drive the economy by far,” he said. “And so if we are the ones who

children, my grandchildren. Everyone looks out for each other. We don’t want a mega resort…

“People come here because they want low key, a pristine environment and friendly people. That’s why you come to Eleuthera. If they want the big time, they go to Atlantis or Baha Mar. Those are there for people who want them. I do know quite a lot of the winter residents, and people who’ve been coming here for 55 years, every single year now. They could go to Baha Mar but they don’t want to - or Atlantis or Las Vegas. They could go to those places but they come to Governor’s Harbour, as we offer something else.”

Another resident added that a casino is completely “unneeded, unnecessary, unwanted”, and the community would benefit more from a sporting complex.

“It brings the wrong element,” they said. “Even

of household user fees and limited data on waste generation further weaken the system’s performance.”

The IDB’s concerns were brought into sharp relief by a video sent to Tribune Business over the Easter weekend showing smoke and smouldering fires at Abaco’s Snake Cay landfill.

Daphne DeGregory-Miaoulis, proprietor of Abaco Neem and a former Abaco Chamber of Commerce president, said in a voice note: “The Abaco forest that was just coming back is now being burnt again because of the dump and the wind, and the fact we shouldn’t be burning waste, period, is infuriating.”

Roscoe Thompson, head of the Marsh Harbour/ Spring City Township, told Tribune Business that the situation at the Snake Cay landfill was “horrible” and “not beneficial” to human health or the environment. In short, it represents a microcosm of the solid waste concerns identified by the IDB.

Disclosing that waste and garbage from the lay-down sites at Treasure Cay and Spring City are being taken to Snake Cay, along with that from Marsh Harbour, Murphy Town, Dundas Town, Hope Town, Baker’s

keep the economy going, then that means you got to make things easier for us. It’s like no brainer. The more money I make, the more you make when I pay my taxes.”

Lamont Ferguson, owner of Bargain Wholesale Bar, said that while he has sent in all necessary documents and information, he is still waiting for the Department of Inland Revenue to complete his application. However, he is calling on the Government to enforce its policy and address the appearance of a new liquor store in his area. He said it opened last year less than 100 feet away from E P Roberts Primary School and a pre-school, adding: “it is so unfair to Bahamian liquor store owners. This is a clear violation of the Liquor Act and must be

if it is a boutique casino, which I’ve read it will be small. However, I still feel like that element is completely unnecessary when we really could benefit from a sports complex, or something that was dealing more with youth, as opposed to a specific tourist market, especially when you consider Nassau already has the tourist market for gambling. And so I don’t see any reason why we would need to have competition with Nassau on that particular front.

“If we could have a sports front, or something that would involve more community. I think, for Eleuthera, that would be a much better tourist angle for people to come and visit and see or have national games, or have inter-island sports events, things like that. I think would be much better for who we are in Governor’s Harbour and Eleuthera in general.”

Bay and Man O’War Cay, Mr Thompson added: “Our dump is filling up pretty quickly. We have no landfill, so the only way to get rid of it is to burn it… It’s not beneficial and we have to address that.”

He said Hubert Ingraham, when prime minister, oversaw the installation of a properly lined and sealed cell at Abaco’s landfill but that is now “dead and they are using other areas to burn. Some of it is not perfectly set, and some of it is. When the dump is really full you have people lighting garbage on the road on fire. It ends up becoming really hazardous. They think it’s helping but they’re not.

“Until the central government decides to put in a proper landfill waste management site, I don’t see us stopping burning,” Mr Thompson said. “All the garbage from the cays goes to Snake Cay. I would estimate, very conservatively, that in a day, let’s say there’s 30 yards of cubic waste per truck, and you have probably 40 trucks going up there. You do the math: That’s 1,200 cubic yards of garbage a day roughly.

“That’s a lot of garbage when you think about it. A lot of people don’t realise that. I just hope that one

made public and dealt with immediately.

“There is one in particular that is directly adjacent to E P Roberts Primary School and opposite a preschool. They opened in 2025. I don’t know if government will enforce their own rules.” The Department of Inland Revenue did not respond to Tribune Business inquiries seeking comment before press time last night.

The Department of Inland Revenue announced last year that selling alcohol from window cages, drive throughs  and takeaway restaurants would be banned, adding that supermarkets, convenience stores and mobile bars will not receive permits to sell alcohol.

Under the new regime, the proximity of liquor

day they’ll get it straightened out.” The IDB report added: “The key urban solid waste collection and disposal services are provided by private companies. These include residential collection, serving households with regular waste pick-up, and commercial waste management, offering collection and disposal services for businesses, institutions, and construction operations.

“These private services complement government-led solid waste operations by expanding capacity, especially in New Providence, where private firms handle a significant share of the overall waste stream. A solid waste strategy is therefore necessary to define national standards, co-ordinate investments, modernise infrastructure, strengthen regulation, integrate circular economy approaches and ensure long-term sustainability across all islands.”

The IDB said the masterplan project will “assess current infrastructure, services and institutional capacity, identify investment gaps and priority areas for improvement”, and involve a “feasibility analysis of proposed interventions and implementation strategies, and development of

stores to schools and churches would be taken into consideration, as well as the suitability of premises. The Department of Inland Revenue also said it would consider the concentration of liquor stores in the area where others plan to open a similar business.

an investment schedule to guide short, medium and long-term planning”.

The waste water management plan will involve “an island-specific road map for expanding and modernising wastewater infrastructure. It will diagnose existing wastewater systems and recurrent operational failures, map and prioritise areas for infrastructure rehabilitation and network expansion, analyse investment needs, financing options and implementation phasing, review regulatory and institutional frameworks affecting wastewater services, and define institutional reforms to strengthen management and service delivery”.

As for the solid waste component, the IDB added: “This component will include all the necessary activities to establish a comprehensive solid waste master plan, assess current waste generation, collection systems, disposal practices and recycling capacity; diagnose infrastructure, operational inefficiencies, condition and performance of disposal sites; prioritise investments for system modernisation; and define institutional and operational measures to improve sector management”.

Once these requirements, along with a number of inspections have been met and a registration fee of $100 has been paid, operators of liquor establishments would receive approval and be allowed to apply for their Business Licence.

RBC mortgage arm to pay nearly $3m in corporate tax

by lower loan loss provisions reflecting prudent risk management.

“Fiscal 2025 unfolded against a challenging environment marked by continued revenue pressure and subdued credit demand. Despite these headwinds, RBC FINCO remained focused on preserving portfolio stability, strengthening credit quality and exercising disciplined cost management. Our strategic actions positioned us for future growth while upholding our commitment to supporting home ownership for Bahamians.”

mortgage loan volumes fell by $4.4m in 2025, although this was less than one-third of the prior year’s $14.9m decline.

Mr Burrows said FINCO helped 250 Bahamian families to own their own homes in 2025. However, the continued struggle to find qualified borrowers and new lending opportunities was shown by the fact that

The FINCO chief suggested the reduced contraction shows its mortgage portfolio, and the wider market, is showing signs of “early stabilisation”. Non-performing loans, meanwhile, which are more than 90 days past due and upon which the lender has

stopped accruing interest, fell by more than $10m year-over-year to $44.6m from $54.9m at the end of October 2024. And FINCO’s efficiency ratio also improved to 47.8 percent as “revenue pressures outpaced expense reductions”. Chris Duggan, chairman of FINCO, which is 75 percent owned by RBC, said post-tax profits of $19.7m for 2025 represented a $12m decline from

Zeldin tells climate skeptics to ‘celebrate vindication’ after repeal of baseline climate rule

By MATTHEW DALY Associated Press

THE head of the Environmental Protection Agency on Wednesday defended his decision to repeal the legal determination that serves as the basis for federal rules to slow climate change, telling a gathering of climate change skeptics they should “celebrate vindication.”

EPA Administrator Lee Zeldin made the remarks in the keynote address at a conference hosted by the Heartland Institute, a

conservative think tank that rejects mainstream climate science and what it calls “climate alarmism.” Zeldin told the gathering that repeal of the 2009 “endangerment finding” reversed decades of unthinking adherence to liberal politicians and environmental groups about the dangers of climate change.

“Today is a moment to celebrate. It is a day to celebrate vindication,” said Zeldin, a former Republican congressman from New York who is widely believed to be under consideration for a possible promotion to

Legal Notice

Mogoma Fund Ltd. Registration No. 211019 B

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

KEW GREEN LIMITED Registration No. 141838 B INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

attorney general, following Pam Bondi’s forced departure last week.

The EPA earlier this year revoked the endangerment finding, a scientific conclusion that for 16 years was the central basis for regulating planet-warming emissions from power plants, vehicles and other sources.

The Trump administration argued the finding hurts industry and the economy and claimed the Obama and Biden administrations twisted science to determine that greenhouse gases are a public health risk.

Heartland on ‘front lines’ against endangerment finding Zeldin’s prominent appearance at a conference hosted by a group deeply skeptical of the established science around climate change reflected the vast reversal that President Donald Trump’s administration has carried out of traditional policies meant to protect the environment.

The EPA has rolled back dozens of air and water protections and has said it does

Legal Notice

Werner Capital Advisory Ltd.

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

LEGAL NOTICE

In Voluntary Liquidation

KEW GREEN LIMITED Registration No. 141838 B

the $31.7m generated the prior year when no corporate income tax was levied. He added that the reduced bottom line was also impacted by reduced net interest income and a smaller release of provisions for expected loan losses. The former was impacted by lower loan volumes and higher borrowing costs, while the recovery of previous credit write-offs was less than in 2024. Total

not have legal authority to regulate climate change.

“You were right there on the front lines against there being an endangerment finding in 2009,” Zeldin told the Heartland conference. Environmentalists denounced Zeldin’s appearance before the conservative group, accusing him of “rallying climate deniers” at a time when climate change is creating greater risks of extreme weather, including stronger hurricanes, more dangerous floods and more intense wildfires.

Zeldin’s speech “promotes disinformation” and amounts to doing the bidding of Heartland’s secretive donors, said Joe Bonfiglio, U.S. director of the Environmental Defense Fund.

assets stood at $703.6m, a modet $6.7m year-overyear rise, while regulatory capital ratios were lower at 28.93 percent - as opposed to 57.77 percent the year before - due to dividend payouts.

A further $4m dividend was approved for payment to all shareholders, including the 25 percent Bahamian minority, on February 17, 2026.

abandoned its obligation to protect the public from pollution.”

An EPA spokeswoman brushed off the criticism, saying “the era of EPA as a vehicle for radical ideology is over.”

Zeldin speaks before a “wide variety of ideologically different groups and individuals to promote the agenda of the Trump EPA,” spokesman Carolyn Holran said.

Zeldin has returned the agency’s focus to fulfill its statutory obligations to protect human health and the environment, “backed by gold standard science, not doomsday models designed to scare the public into compliance,” she said in an email.

“The Heartland Institute is not a serious scientific organization. It’s a disinformation factory,” Bonfiglio said. Having the EPA administrator serve as their opening act isn’t just embarrassing — it’s a signal of how completely the Trump administration has

is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of KEW GREEN LIMITED has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the

The date of completion of the Dissolution was _________________________.

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of Mogoma Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 13th day of March, 2026.

Crowe Bahamas Liquidator

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of KEW GREEN LIMITED has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was _______

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), that Werner Capital Advisory Ltd. Registration No. 198957 B is in dissolution. The date of commencement of the dissolution is the 2nd day of April, 2026. The Liquidator of the Fund is Doddy Kuntjoro and can be contacted at Citraland Bukit Golf Paviliun H3/31, Surabaya, 60211, Indonesia. All persons having claims against the above-named company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before the 4th day of May, 2026.

Crowe Bahamas Liquidator

Heartland, based in Illinois, describes itself as a “free-market think tank” and says a key goal is to “challenge the narrative that the world faces a climate crisis” driven by the burning of fossil fuels. The organization does not disclose its funder list but has received financial support from oil and gas interests.

Legal Notice

Westwood Capital Fund Ltd.

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

LEGAL NOTICE

KEW GREEN LIMITED Registration No. 141838 B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000) In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of KEW GREEN LIMITED has been completed, Certificate of Dissolution has been issued and the Company has therefore been struck off Register. The date of completion of the Dissolution was _________________________.

In Voluntary Liquidation Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), that Westwood Capital Fund Ltd. Registration No. 200343 B is in dissolution. The date of commencement of the dissolution is the 2nd day of April, 2026. The Liquidator of the Fund is Doddy Kuntjoro and can be contacted at Citraland Bukit Golf Paviliun H3/31, Surabaya, 60211, Indonesia. All persons having claims against the above-named company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before the 4th day of May, 2026. Signed:

Crowe Bahamas Liquidator

Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), LIMITED date of commencement of the Dissolution is March, 2026 can be contacted at 238 Orchard Boulevard #32-06 Singapore 237973. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before 4th March, 2026 3rd April, 2026

Legal Notice

Black Conch Fund Ltd. Registration No. 205348 B

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

KEW GREEN LIMITED Registration No. 141838 B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000) In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of Black Conch Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 12th day of March, 2026.

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000,

Shaky ceasefire unlikely to stop cyberattacks from Iran-linked hackers for long

By DAVID KLEPPER Associated Press

HACKERS backing Tehran say an uncertain ceasefire between Iran and the United States and Israel won’t end their retaliatory cyberattacks, a warning that American cybersecurity experts say potential targets in the U.S. and Israel should take seriously.

One leading hacking group known as Handala said after the ceasefire announcement that it was temporarily postponing attacks on the U.S. but would continue to target Israel. It vowed to revive its efforts against America when the time was right — demonstrating again how digital warfare has become ingrained in military conflict. Already, the two-week ceasefire appears at risk

of fraying over significant disagreements between the parties, which each are claiming victory in the war.

A pro-Palestinian, pro-Iranian network that operates independently of Tehran, Handala has claimed credit for disrupting the operations of the U.S. medical manufacturer

Stryker and hacking into FBI Director Kash Patel’s personal email account, among other cyberattacks. The group is just one of several proxy hacking networks allied with Iran.

“We did not begin this war, but we will be the ones to finish it,” Handala wrote on its X account. “And let it be clear: The cyber war did not begin with the military conflict, and it will not end with any military ceasefire.”

U.S. authorities warned on Tuesday that

hackers supporting Iran had burrowed into internet-connected computers used to automate and control technology in a variety of important industrial sectors. The computers, known as programmable logic controllers, are used in ports, power plants and water plants — key targets for foreign hackers looking to disrupt everyday life in the U.S.

In a joint advisory from the FBI, National Security Agency and Cybersecurity and Infrastructure Security Agency, officials urged organizations that use the technology to ensure their security precautions were up-to-date. CISA did not immediately respond to questions Wednesday about the impact that the ceasefire would have on cybersecurity.

Ocean protections clash with mining pressure in Indonesia’s most diverse marine ecosystem

By CLAUDIA ROSEL Associated Press

THERE is an explosion of color beneath the surface in Raja Ampat, a remote archipelago in eastern Indonesia where sharks, mantas and sea turtles glide alongside vast schools of fish through sea fan coral formations, some of which are only found in its waters.

“There’s nowhere on Earth that has as many fish, corals and everything else packed into one small place,” said Mark Erdmann, an American coral reef biologist who has spent more than two decades studying the region and became a central figure in building Raja Ampat’s conservation model.

The world famous diving archipelago sits at the heart of the Coral Triangle, in southwestern Papua, where powerful ocean currents carry nutrients that sustain what scientists describe as the most biodiverse marine ecosystem on the planet.

Long regarded as a global model for ocean

conservation, Raja Ampat ecosystems are now under pressure, as concerns grow over the expansion of nickel mining alongside a surge of international tourism.

Model for conservation

The reefs didn’t always look as healthy as they do today. In the early 2000s, fishermen from other parts of Indonesia and Southeast Asia used explosives and large nets, damaging corals, decimating shark populations and forcing local residents who relied on fishing to travel as far as 10 kilometers (6 miles) offshore for a catch.

During those years, the government depended on mining and forestry as the region’s main economic drivers.

That trajectory began to shift in 2023 when a marine assessment by Conservation International sparked conversations between local leaders and environmental groups on how protecting Raja Ampat’s waters could deliver food security and lasting tourism revenue, while safeguarding one of

the ocean’s most critical ecosystems.

“We brought some leaders to visit more developed areas such as Bunaken and Bali with the hope that they could see for themselves up close the benefits of natural resource management,” said Syafri Tuharea, a conservation expert who heads the Raja Ampat Marine Conservation Area.

Those exchanges laid the groundwork for 10 marine protected areas established from 2007, covering a 2 million-hectare (4.9 million-acre) area, including 45% of Raja Ampat’s reefs, seagrass beds and mangroves.

Today, local communities patrol the waters, enforce fishing rules and monitor tourism activity, largely financed by tourism revenues, including from a 700,000 Indonesian rupiah ($40) marine park entry fee.

After two decades of protection, the results are significant. A 2024 report from the Misool Foundation, one of the islands under the marine protected

Cybersecurity experts say the warning should be taken seriously by potential targets regardless of the sides announcing a temporary truce.

Markus Mueller, a cybersecurity executive at Nozomi Networks, said he anticipates an increase in cyberattacks on American organizations following the ceasefire, not a decrease. That’s because any lull in hostilities would allow hackers to shift from regional targets directly involved in the conflict to efforts to infiltrate U.S. organizations that participated in the war effort in some way, a list that includes data centers, tech companies and defense contractors.

He also predicted that some groups based in Iran or Russia may seek to circumvent the truce

area, found that fish biomass has risen by 109% — a measure that serves as an indicator of ecosystem health.

The same waters now host 2,007 documented reef mantas, a large number considering the species is vulnerable to extinction because of overfishing across much of the Indo-Pacific ocean.

Nickel mining threats

This conservation success is unfolding alongside a broader transition to renewable energy, a shift that is rapidly increasing demand for nickel.

The government granted new nickel mining concessions in 2025 on three northern Raja Ampat islands, some within a declared UNESCO Global Geopark and near top dive sites.

Nickel is a key component in electric vehicle batteries and essential for building wind and

by launching a significant cyberattack on a U.S. target that is designed to attract the attention of the American public.

“With a ceasefire, we will likely see an expansion of cyber activity both in scale and scope,” Mueller said.

“These groups will likely try to execute a high-profile attack such as what we saw with Stryker.”

So far, the attacks attributed to pro-Iranian hackers have been high in volume but low in impact, designed to boost morale among Iran’s supporters while reminding its opponents of continued vulnerabilities despite their military advantages.

Handala claimed responsibility last month for hacking Stryker, a major medical equipment supply company based in

solar infrastructure. It has become central to Indonesia’s economic development — the country holds about 43% of the world’s reserves, according to the U.S. Geological Survey.

Mining has fueled tensions within communities, where residents depend on fishing and tourism, both of which could be jeopardized.

Following a public outcry last summer, four concessions were revoked, but one remains on Gag Island, where mining started in 2017.

“The heavy machinery, excavators, bulldozers — they’re still there (in the islands),” said Timon Manurung, director of Indonesian environmental group Auriga Nusantara. He said that no one is taking responsibility for repairing the damage already done.

The environmental risks of nickel mining are amplified by the geography of the islands, which are steep

Michigan. Handala claimed the hack was in retaliation for strikes that killed Iranian schoolchildren.

The FBI responded by seizing four internet web addresses used by the group to spread its message. Handala then leaked several old photos of Patel after saying it had hacked into the FBI director’s personal email account.

Other pro-Iranian hackers have been linked to efforts to install malware on the phones of Israelis, penetrate cameras in Middle Eastern countries to improve Iran’s missile targeting, and target data centers and industrial facilities in Israel, Saudi Arabia and Kuwait.

and receive heavy rainfall, conditions that can send sediment from mining sites directly into the sea.

“In the end, it will cause coral reefs to die,” said Tuharea, the marine park manager.

The affected zone also sits along a critical migration corridor for reef manta rays, one of the archipelago’s biggest tourism draws.

Beyond its marine richness, the region also contains extensive seagrass meadows and mangrove forests — coastal ecosystems covering only 0.1% of the ocean floor and 1% of the global tropical forests, according to the U.N. Environment Program. These function as powerful natural sinks to absorb carbon dioxide and help regulate the climate.

A study in March by Manurung’s environmental group found that deforestation has already reached nearly 1,000 hectares (around 2,500 acres).

Colours in motion 2026

Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran

By STAN CHOE AP Business Writer

OIL prices plunged below $95 per barrel, and stock markets surged worldwide Wednesday after President Donald Trump pulled back from his threat to destroy Iran.

The S&P 500 leaped 2.5% after Trump announced a two-week ceasefire with Iran, less than 90 minutes before a deadline Trump had set for it to open the Strait of Hormuz and allow oil tankers to exit the Persian Gulf. The Dow Jones Industrial Average rallied 1,325 points, or 2.8%, and the Nasdaq composite soared 2.8% following even bigger gains in European and Asian stock markets.

To be sure, stock prices are still below where they were before the war. And oil prices are still higher because of the threat of a resumption to the war.

The ceasefire already looks precarious, and Iran closed the Strait of Hormuz again Wednesday in response to Israeli attacks in Lebanon.

Such uncertainty caused some of the euphoria that fueled financial markets in the morning to fade as Wednesday’s trading progressed, and financial markets have been prone to sharp and sudden reversals since the war began.

“There is a reason to be optimistic, but it is still too early to tell, because, as you know, after all, it is Trump,” said Takashi Hiroki, chief strategist at MONEX.

So far in the war, Trump has set several deadlines for Iran to open the Strait of Hormuz, a main thoroughfare for oil to reach customers worldwide from the Persian Gulf, and has threatened big repercussions if Iran doesn’t, only to delay them.

It’s similar to a year ago, when Trump threatened stiff tariffs on imports from other countries on “Liberation Day.” After a couple delays, his administration eventually negotiated lower tariffs with many countries, though still higher than from before his second term. That led some investors to allege Trump “always chickens out,” or

“TACO,” if financial markets show enough pain.

“Is it just kicking of the can down the road, moving the goalposts, TACO Tuesday, or whatever metaphor we’d like, to only to have tempers flare and bombs drop again?” Brian Jacobsen, chief economic strategist at Annex Wealth Management, asked about the two-week ceasefire with Iran. “Who knows? But it’s good enough for now to elicit a positive response from the markets.”

The price for a barrel of benchmark U.S. crude oil plunged 16.4% to settle at $94.41 after almost dropping to $91 earlier in the morning.

Iran’s proposal to collect tolls in the Strait of Hormuz violates trade norms

By DAVID McHUGH and JOHN LEICESTER Associated Press

TO end the war with the United States and Israel, Iran is demanding the right to collect tolls in the Strait of Hormuz as a precondition for reopening the waterway vital to world oil supplies.

Yet collecting tolls in the strait would violate a basic and enduring principle of international maritime trade: freedom of peaceful navigation. It’s an ancient idea that was codified by the United Nations’ Convention on the Law of the Sea, which took effect in 1994.

Opening the strait would save the global economy

from supply constraints that have pushed energy and fertilizer prices sharply higher since the war began on Feb. 28. But agreeing to Iranian toll-collecting would cement the Islamic Republic’s control over the strait through which 20% of the world’s oil is shipped — and enrich the country against whom the war was launched.

U.S. President Donald Trump has made reopening the strait a priority. But the White House said Wednesday he is opposed to tolls, and analysts say the Gulf’s oil producers are, too.

Analysts say they have seen no change in traffic through the strait since the ceasefire was announced, despite claims to the

contrary from the White House.

Here are things to know about Iran’s proposal and the international law with which it collides.

Iran had already begun charging vessels passing through the strait

After the U.S. and Israel launched the war, Iran immediately exercised leverage by blocking the strait with attacks — and threats of attacks — on ships, making passage too risky. The disruption caused immediate shortages in some Asian countries highly dependent on the region’s energy, sent gasoline prices higher in the U.S.

Brent crude, the international standard, tumbled 13.3% to $94.75 per barrel. It had briefly topped $119 when worries about the war with Iran were at their highest, but it’s still above its roughly $70 price from before the war.

The next moves for oil prices will depend on how many oil tankers can start exiting the Strait of Hormuz and how easy their passage is. Despite claims from the White House on Wednesday about an uptick in ships transiting the strait, independent analysts say they have seen no change in traffic through it.

Windward, a maritime intelligence firm that tracks

and Europe, and threatened global economic growth.

Iran then began vetting vessels in a murky scheme dubbed the “tollbooth” by shipping analysts.

The ships were told to divert from the middle of the strait in Iranian and Omani territorial waters and instead detour around Iran’s Larak Island. After delivering detailed information on crew and cargo to intermediaries of Iran’s paramilitary Islamic Revolutionary Guards Corps, some vessels were allowed to proceed — and at least two reportedly paid the equivalent of $2 million in Chinese yuan.

The Law of the Sea Treaty guarantees passage to peaceful ships

Iran’s 10-point proposal for ending the war includes a provision allowing it and

international shipping, said all ships transiting the strait must still coordinate safe passage with Iranian authorities, who are requiring hefty tolls of up to $1 a barrel for outbound oil, paid in cryptocurrency. The largest supertankers carry up to 3 million barrels of crude.

White House press secretary Karoline Leavitt said the closing of the strait reported in Iranian state media was “completely unacceptable.” She repeated Trump’s “expectation and demand” that the channel be reopened.

In Asia, where countries are more reliant on oil from the Middle East, South Korea’s Kospi stock index surged 6.9%. Japan’s Nikkei 225 leaped 5.4%, and Hong Kong’s Hang Seng jumped 3.1%.

European stock indexes rose nearly as much. Germany’s DAX returned 5.1%, and France’s CAC 40 rallied 4.5%.

On Wall Street, companies with big fuel bills rallied to trim some of the sharp losses taken on worries about oil prices staying high.

United Airlines soared 7.9% and cut into its loss for the year, which came into the day at 20.1%. Cruise ship operator Carnival climbed 11.2%.

Delta Air Lines rose 3.7% after it reported

Oman to charge ships passing through the Strait of Hormuz, according to a regional official who spoke on condition of anonymity to discuss negotiations they were directly involved in.

The official said Iran would use the money it raised for reconstruction.

But the Law of the Sea Treaty’s Article 17 guarantees a right of “innocent passage” for ships that do not threaten the coastal states. So allowing Iran and Oman to start charging for passage through the strait would set a dangerous precedent, experts said.

Freedom of navigation in the world’s seas has been a fundamental right for hundreds of years, founded on “the idea that the sea doesn’t belong to anyone,” said Philippe Delebecque, a professor and maritime law expert at Paris’ Sorbonne University.

“Freedom of navigation has always been recognized, including specifically in straits,” he said. The concern is if the Strait of Hormuz could be closed, then why not the Strait of Gibraltar between the Mediterranean and the Atlantic, or the Strait of Malacca off Indonesia?

He called that scenario “the end of an international society.”

Neither Iran or the U.S. have ratified the Law of the Sea Treaty

While 172 countries have ratified the U.N. convention, Iran and the United States are among those that have not.

“Not having ratified the convention doesn’t give (Iran) total freedom of action in the Strait of Hormuz,” said Julien Raynaut, who heads the French Association of Maritime Law, a trade group. “It remains subject to international law and notably this customary right of passage.”

stronger results for the latest quarter than analysts expected. CEO Ed Bastian said demand for flights remains strong, and it’s making moves to make up for higher fuel bills. Delta on Tuesday became the latest airline to raise its fees for checking bags.

All told, the S&P 500 rose 165.96 points to 6,782.81. The Dow Jones Industrial Average jumped 1,325.46 to 47,909.92, and the Nasdaq composite rallied 617.15 to 22,635.00. In the bond market, Treasury yields dropped as hopes built that easing oil prices could let the Federal Reserve resume its cuts to interest rates later this year. The yield on the 10-year Treasury fell to 4.29% from 4.33% late Tuesday. Lower Treasury yields give a boost to prices for stocks, bonds and all kinds of other investments. They should also ease some of the recent rise in rates for mortgages and other loans taken out by U.S. households and businesses.

When oil prices were screaming higher because of the war, some traders were betting on the possibility that the Fed would have to raise interest rates to keep a lid on inflation. Now, they’re seeing a nearly 25% chance that the Fed could resume its cuts to rates in 2026, according to data from CME Group.

An Iranian tollbooth could lead China to conclude that it could restrict movement in the Taiwan Strait, Raynaut said. Oman and Iran may face diplomatic pushback to adhere to the convention, said Constantinos Yiallourides, a senior research fellow at the British Institute of International and Comparative Law. Free passage “is in the interest of everyone,” he said. “We all want to get the best products at the best prices.”

The global economy needs the Strait of Hormuz reopened

Some economists say that, from a strictly financial standpoint, the world would barely notice the additional costs from any tolling in the Strait of Hormuz.

For example, a $2 million toll on a large tanker carrying 2 million barrels of oil amounts to $1-per-barrel increase on that ship’s oil. “The burden does not fall on global consumers, but overwhelmingly on the Gulf states that supply the oil that transits the strait,” wrote the Bruegel think tank in Brussels. It said the world economy would instantly benefit from the reopening the strait — returning 20% of the world’s oil to the market and sending prices lower.

Plus, by lowering oil prices, it would eliminate a multibillion-dollar geopolitical windfall for Russia, whose oil is suddenly in greater demand despite sanctions.

The international price of oil has jumped from around $72 per barrel before the war to as high as $118 on March 31. On Monday, Brent crude, the international benchmark, traded at $94.55, down sharply after news of the two-week ceasefire.