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THURSDAY, MAY 15, 2025
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White: Montagu mess shows need for better city planning PHILIP DAVIS KC
PM: Financial bills will keep sector competitive • Bahamas sees 3.4% growth, exceeding global forecasts • PM touts record GDP, cites strong post-COVID rebound • $14.1B GDP milestone signals economy’s strong recovery By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net A COMPENDIUM of financial bills passed in Parliament yesterday will ensure the country’s continued adherence to international standards set by the Financial Action Task Force (FATF), said Prime Minister Philip Davis. Mr Davis said this would ensure the financial services sector remains competitive. During his contribution in the House of Assembly yesterday, Mr Davis said the financial sector must continue to remain complaint as the administration advocates for fairness from the international community. “As we implement reforms, we do so with a clear vision to create a financial services sector that is modern, transparent, compliant, efficient and trusted by investors worldwide. To achieve this vision, we must keep our momentum going,” said Mr Davis. “Let’s continue outperforming forecasts and avoiding blacklists. Let’s continue advocating for fairness in the application of standards and rules on a global stage to ensure that everyone is playing by the same rules and has the same opportunity for success. And most importantly, let’s continue building a sector
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By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net AFTER the removal of signs in the Montagu Beach area, St Anne’s MP Adrian White has called for more strategic city planning and an equal application of regulations for all parties. Speaking in Parliament yesterday, Mr White called for the government to zone more green areas exclusively for recreational use, and not economic purposes. Highlighting the number of signs recently removed from Montagu through an initiative launched by the Beaches and Parks Authority and the number of unlicenced vendors still operating at the park, Mr White said policies need to be put in place to regulate vendor activity on public parks. “We need to have a plan to preserve green spaces. I’ve recently heard. after it
• White slams “act first, ask later” attitude on public land use. • MP criticizes unequal enforcement of park rules, calls for fairness. • Without clear policy, public spaces risk overcommercialization, says White. was raised in this honourable house, the issue of increased signage, commercial signage at Montagu Park, the increased amount of vendors operating, apparently without licence,” said Mr White. “Now under the Parks and Beaches Authority, [there’s] a campaign to remove unauthorised signs, and a number of signs have been removed from Montagu in particular, but not all signs. But as it related to the vendors that are operating there, there seem to be an acceptance that some of these persons were there
without permission from Parks and Beaches Authority. But it didn’t appear as though there was going to be a policy implemented so that certain parks would have no vendors, so that certain areas would be purely left for the peaceful enjoyment by Bahamians.” Mr White reiterated his objections to having Montagu Beach serve as a commercial area instead of an area residents use solely for recreational purposes, Mr White said the enforcement of rules should be done
ADRIAN WHITE consistently and equally to all stakeholders. “What it sounded like from the executive director was that we’re aware that there are vendors operating there, and we’re going to bring them in so that they can go through the proper permitting and approval process. That’s not the enforcement of the laws we want. We shouldn’t be a
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FNM challenges BNSI’s economic growth figures By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE average Bahamian is not feeling the effects of the 3.4 percent growth rate, according to FNM financial spokesman Kwasi Thompson who said many still struggle to keep their businesses and personal finances afloat. Speaking in Parliament yesterday, as a compendium of financial legislation was being
debated, Mr Thompson said the increased growth rate, mentioned by Prime Minister Philip Davis during his contribution, was “concentrated” among a few individuals that are “well connected” and not felt by all residents. “The Bahamas National Statistical Institute (BNSI), as was said by the Prime Minister, says that the economy grew by 3.4 percent last year. But unfortunately, most Bahamians are
wondering, who is actually feeling it?”, he asked. “We actually listen to the unions. We have heard parents trying to stretch their pay cheques to afford groceries and school fees. We hear from young people frustrated with the lack of opportunities, wondering if they will ever be able to own their own home. We see small business owners fighting to stay afloat as costs continue
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KWASI THOMPSON
Union says foreign musicians are harming Bahamian artists BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net FOREIGN artists are taking the bread out of Bahamian artists’ mouths, according to the United Artists Bahamas Union (UABU). With the primary objective of protecting Bahamian musicians and entertainers and their welfare, the UABU released a public message addressed to the Department of Immigration and the Department of Labour, stating that they have not and will not “give a letter of support for any foreign artist competing with our Bahamian artists at homecomings, regattas,
VYBZ KARTEL independence celebrations, [or] junkanoo parade”. “We understand that there are a number of events taking place on the Family Islands with foreign artists,” UABU Secretary General Linc Scavella said.
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Abaconians: We contribute so why don’t we get support? BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net ABACONIANS are calling for more attention to be put on the island’s infrastructure needs, especially given the economic impact it makes on the country. Residents have made complaints that most of the financing and focus is put on New Providence followed by other family Island. “Well, there’s so much that needs to be done,” Molly McIntosh, owner of the Bluff House Beach Resort and Marina, said. “We read in the papers that they’re doing this in Exuma and that in Grand Bahama
and Cat Island is getting a new airport, medical facility or whatever. But here in Abaco, it’s a huge amount of business and money that’s going back into the central government. So I would like to see some more money put into the infrastructure, such as the roads. That’s a very good example. You know, the potholes are so bad, tyres get blown all the time, and it makes it more expensive to do business.” Owner of the Island Spirit Mobile Spa and Wellness Suzette Colquhoun said Abaco is the new second city. Based in Treasure Cay, Ms Colquhoun noted that
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