business@tribunemedia.net
Thursday, October 8, 2026
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Marinas fear ‘real harm’ on BMA-flagged vessel entry BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net MARINAS are warning that “real harm” could result from a seemingly new policy where Customs officers have been told a Bahamas Maritime Authority (BMA) registration is not enough for high-end mega yachts to clear into this nation. The Association of Bahamas Marinas (ABM), in an October 6, 2026, letter to Captain Dwain Hutchinson, the BMA’s managing director and chief executive, alleged that Port Department officials had “instructed” Customs to adopt this stance where yachts already flying the Bahamian flag now have to obtain a separate “local” registration or licence to enter the country. Asserting that it had been informed of several such “incidents” occurring at ports of entry in Nassau, Abaco and Bimini, the ABM sounded the alarm that this will impact “the integrity of The Bahamas’ yacht registry” by penalising owners who select
Disruption concern on need to also register with Port Dept
this nation’s flag while also driving them to other registries. Calling on the BMA to intervene, the Association said the situation threatens to cause further confusion and disruption for The Bahamas’ boating market. However, Captain Carlon Bethel, the Port Department’s newly-appointed controller, told Tribune Business he was unaware of any such “incidents” and added that neither the Association nor its member marinas had approached the maritime regulator over their concerns. Calling on the marinas to provide specific evidence,
including vessel names; the date, time and location of any clearance woes experienced by Bahamas-flagged super yachts; and the names of Customs and Port Department officials involved, Captain Bethel described the ABM’s worries as “brand new” which made it difficult to respond. Pledging to contact Captain Hutchinson to ensure any issues are addressed, he suggested that the only situation where challenges may have occurred was if Bahamas-flagged yachts, registered with the BMA, planned to conduct charters in Bahamian waters but were unaware of
Aliv’s ‘grinding out’ battle amid $14.1m profits swing BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net ALIV is “trying to grind out every new subscriber we can get,” Cable Bahamas’ top executive says, after the mobile operator produced a positive $14.1m bottom line reversal to generate the highest-ever profit in its 10-year history. Franklyn Butler, the BISX-listed communications provider’s president and chief executive, told Tribune Business in recent interview that Aliv is now locked in a battle of attrition with the
Bahamas Telecommunications Company (BTC) for mobile dominance after gaining around 50 percent market share almost a decade after it launched in November 2016. “We’ve gotten to about 50 percent market share,” he said. “Growth is not as strong now in that space. We are trying to grind out every new subscriber that we can get. We are offering better customer service, trying to focus on the customer experience so continue to keep the numbers and growth at Aliv.” Cable Bahamas’ just-released annual report for
FRANKLYN BUTLER the year to end-June 2026 reveals that Aliv, in which the company has a 47.25 percent ownership interest but Board and management control, swung from a $4.43m loss in the prior year to $9.674m in net income. It played a key role in Cable Bahamas’
Chamber urges tax relief over escalating fuel cost BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net THE BAHAMAS Chamber of Commerce and Employers’ Confederation (BCCEC) yesterday urged the Government to consider temporary, targeted tax relief and other measures as it warned businesses cannot indefinitely absorb escalating gas prices. Don Williams, BCCEC chairman and acting chief executive, with fuel prices approach $7.50 per gallon and threatening to further drive up the cost of goods and servicesm said companies have been seeking to mitiigate the impact for months by cutting costs
and expanding work-fromhome arrangements where possible. “Well, the thing is, businesses have been adjusting because of fuel prices,” he said. “Fuel prices just haven’t increased over the past week. Fuel prices have been increasing over the past a few months. Businesses have been adjusting - from providing those work from home options, cutting back on their costs.” Mr Williams was responding to former prime minister Dr Hubert Minnis, who has called for the Government to reduce or eliminate VAT on fuel, particularly diesel, while encouraging businesses to
TRANSPORT - See Page B8
Consumer watchdog’s 90.5% ‘recovery rate’ BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net THE GOVERNMENT’S consumer watchdog yesterday disclosed it had achieved a 90.5 percent recovery rate for aggrieved consumers during the first nine months of 2026 by winning back $101,806 of the $112,450 they were collectively disputing. The Consumer Protection Commission (CPC), in a statement, said its recovery rate was much higher than
the 56.6 percent achieved during the same period in 2025. Bryant Lowe, its executive chairman, said the improvement comes with the Commission handling fewer overall complaints but more complex cases, with 65 matters currently under active investigation involving vehicle dealers, construction contractors, surveyors, financial institutions and timeshare providers.
DISPUTES - See Page B10
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Bahamas hailed as North America ‘lead’ over new medicines Blood flow treatment provider gets local regulator’s full approval
But Port chief unaware of ‘incidents’; issues are ‘brand new’ Demands evidence amid yacht registry ‘integrity’ warnings
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Targeting ‘up to $9m’ in annual economic activity within 5 years PETER MAURY the legal requirement to pay the 14 percent fee and obtain the necessary permits. Ralph Munroe, Bahamas Customs comptroller, also said “the issue seems to revolve around” whether a Bahamian-flagged yacht’s beneficial owner is foreign. He reiterated that, even if it is flying the Bahamian flag, a foreign-owned boat cannot provide charter services without paying due fees and complying with local laws and regulations. Peter Maury, the ABM’s president, in the Association’s
Signals teaming with Doctors Hospital to tap 25m strong market BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net
overall $18m ‘bottom line’ swing from $6.746m loss in its 2025 financial year to $11.3m in net income this time around. The BISX-listed communications provider, noting that Aliv served some 169,000 subscribers at end-June 2026, said its mobile subsidiary now carries three-quarters of the ‘roaming’ traffic now entering The Bahamas - which represents data, calls and communications between visitors and their families, friends and work at home. Aliv’s revenue also increased by 4 percent, or more than $3.6m, to $116.972m for the year to end-June 2026, while visitor roaming revenues rose by 11
THE BAHAMAS was yesterday hailed as the North America “lead” on regenerative medicine by the latest provider approved to operate from this nation, which predicted it may generate “up to $9m” in annual economic activity within five years. Thomas Smeenk, president and chief executive of Hemostemix, which revealed it has received full approval from Bahamian regulators to conduct first-phase clinical studies of its VesCell treatment for impaired blood flows, told Tribune Business that this nation’s supervisory regime and laws governing regenerative medicine and longevity are second to none when compared to regional rivals. Signalling that Hemostemix is partnering with Doctors Hospital on its Bahamas plans, he confirmed that it will both establish a physical presence in this nation and hire Bahamians although details and timelines now have to be worked out after receiving final go-ahead from the Longevity and Regenerative Therapies (LARTA) Board that oversees the Act bearing the same name. Also pledging that Hemostemix will offer its stem cell-based vascular and ischemic disease treatments to Bahamians if proven successful, Mr Smeenk said this nation has “carved out a very compelling footing” in this area of medicine through passage of the LARTA Act in 2024 that is now beginning to attract practitioners to domicile here. “Well, it really is the Longevity and Regenerative Therapies Act,” he explained, “and the forward-looking footing that The Bahamas has taken in respect of the longevity space and the regenerative medicine space. I found that they have obviously done their homework, and found a very compelling footing that they have carved out for themselves.
EXPAND - See Page B12
HEALTH - See Page B11
CLEARANCE - See Page B9
PAGE 2, Thursday, October 8, 2026
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BISX unveils latest mutual fund listing THE Bahamas The fund is incorporated as International SecuBahamian Interrities Exchange national Business (BISX) yesterday Company (IBC), and said it has added is licensed as a Smart another listing to its Fund SFM007 under HOLLAND the SMART Funds mutual funds roster. GRANT Rules accompanyThe exchange, in ing the Investment a statement, said the Funds Act 2019. W Total Income Fund has Holland Grant, BISX’s successfully completed its chief operating officer, said: mutual fund listing process “The W Total Income Fund continues the growth of and been listed.
our fund listing facility. The exchange takes pride in the value of this facility to our international financial services industry, and the Bahamian professionals who work in this industry. “We also want to take this time to wish an early congratulations to our sponsor member, the Winterbotham Group, who are celebrating their 35th anniversary of business this year.” The Winterbotham Trust Company served as the BISX sponsor member that brought the W Total Income Fund to the exchange. The Winterbotham Trust Company has been appointed to serve as its administrator.
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Thursday, October 8, 2026, PAGE 3
Stopping ‘one bad apple from spoiling the bunch’ T
he saying, “one bad apple can spoil the whole bunch”, is especially relevant in the workplace because negative attitudes and behaviour can quickly influence others and damage a company’s internal culture along with morale and productivity. A workplace is built on teamwork, trust, accountability and a shared commitment to achieving company goals. However, the presence of one negative or disruptive employee can have a significant impact on the entire organisation. One of the greatest dangers of having a “bad apple”
in the workplace is the ability to spread negativity. An employee who constantly complains, refuses to co-operate, disregards policies, gossips or demonstrates disrespect toward management and co-workers can create tension and division. Over time, other employees may become discouraged, frustrated or influenced to adopt the same behaviours. What begins as one person's attitude can eventually become a larger workplace problem. A “bad apple” can also negatively affect productivity and morale. Employees who are committed to their responsibilities may become
frustrated when they see someone repeatedly performing poorly without consequences. This can create the perception that accountability is not important. When good employees feel their efforts are not valued, or that poor behaviour is being tolerated, their motivation and commitment can decline. The best way to deal with a problematic employee is not to immediately dismiss the individual, but to address the situation fairly, professionally and promptly. Management should first identify the specific behaviours that are causing concern and
Tour operator’s ‘thousands’ in losses over BPL outages BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net BAHAMIAN businesses are absorbing mounting losses and disruptions from prolonged Bahamas Power & Light (BPL) outages, with the Chamber of Commerce yesterday warning that unreliable supply is a persistent burden on the private sector. Don Williams, Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) chairman and acting chief executive, said companies have already been forced to adapt to repeated power disruptions. “Apart from that, businesses have faced the constant power outages,” Mr Williams said. “My office itself, we just faced a power outage yesterday. We faced it again this morning.” He said the impact on his office was limited to air conditioning interruptions and having to reset breakers, but argued that companies have been dealing with the problem for some time. Cheryl Cambridge, owner of Cheryl’s Bahamas Taxi & Tours, said a recent all-day outage forced her to send staff home while leaving her
business unable to operate normally. “The current was off all day and I sent my staff home,” Ms Cambridge said. “Yes, I am suffering. I am suffering. And it messed up the router from Aliv. They had to come and change the router.” She said the outage also disrupted her security system and payment operations, creating additional expenses. “The power was off all friggin day,” Ms Cambridge said. “So my staff had to go home, and I still had to pay them because it ain’t their fault.” Ms Cambridge said she subsequently spent hundreds of dollars addressing problems caused by the outage, including $100 for an alarm company visit and another $200 to repair her cameras, in addition to paying employees who could not work. She said the uncertainty surrounding restoration times made it difficult to decide whether staff should remain at the business. “They went home after a couple hours because they were staying, waiting, waiting, and hoping that they come back on,” Ms Cambridge said. “I called them,
and they told me they had no idea when it was coming back on. So they went home.” The disruption is particularly damaging for her business because she operates a tourism company during a period when bookings are increasing. “I’m a tour company and we really losing business like that,” Ms Cambridge said. She added that repeated outages, combined with rising electricity bills, are putting further pressure on the business. “Many days I am suffering because of it, and then the light bill going up,” Ms Cambridge said. “My light is over $1,000 a month.” She estimated that she has lost thousands of dollars because power disruptions prevented her from responding to customers quickly enough during the busy fall booking season. “I’ve lost thousands because we can’t get to answer the e-mail on a timely basis,” Ms Cambridge said. “This is fall season. We’re busy.” She said delayed responses can mean losing customers to competitors. “When they can’t hear back from us on a timely
communicate clearly what is expected. The employee should be given an opportunity to explain their actions and, where appropriate, a reasonable opportunity to improve. Moreover, allowing one employee’s behaviour to continue simply because they have been with the company for a long time can be more damaging than making a difficult decision. And giving someone a chance does not mean allowing harmful behaviour to continue indefinitely. There must be clear expectations, documented performance standards, basis, they go some place else,” Ms Cambridge said. Kevin Strakan, owner of Native Arts and Crafts on Elizabeth Avenue, said having a generator has helped shield his business from some of the BPL outages, although he has also experienced significant disruptions. “We got generator,” Mr Strakan said. “So it wouldn’t affect me like that.” However, he said an outage connected to construction for Adrian Fox, Fox Group of Companies head, in the Cable Beach area left his home without business for two days. “And I live in the Cable Beach area, and [Adrian] Fox is putting up a building, and for two days I was shut down,” Mr Strakan said. He said the disruption was followed by problems with his air conditioning system and continued electrical interruptions. “And for two days things were shut down,” Mr Strakan said. “And then after that, what happened is my air condition blew, and I’m still having problems in the night. There’s cutting in and out.” The latest complaints echo concerns raised by Pargan Pawar, proprietor of downtown Indian restaurant, Taj Mahal, following a prolonged weekend outage that left his business without electricity for much of Saturday, Sunday and Monday.
BastiaN
there must be balance with accountability. All things considered, if an employee repeatedly refuses to improve despite support and reasonable opportunities, management must be prepared to take further disciplinary action in accordance with company policy and the law. This may mean removing that employee from the workplace indefinitely so as to restore workforce harmony. Until we meet again, live life for memories rather than regrets. Enjoy life and stay on top of your game.
appropriate coaching and consistent consequences. Equally, effective leadership requires making decisions in the best interest of the company as a whole. Compassion and empowerment are important, but
• NB: Columnist welcomes feedback at deeprojects1@gmail.com About Columnist: Deidre M. Bastian is a brand marketing analyst/ graphic designer, international award winning author and certified life coach.
Mr Pawar previously warned that prolonged outages have fundamentally changed the risk of operating without a generator, noting that outages that once lasted less than an hour can now stretch into days.
The repeated disruptions have also raised broader concerns among businesses about the cost of maintaining operations, protecting equipment and retaining customers when electricity supplies cannot be relied upon.
By
DEIDRE
PAGE 4, Thursday, October 8, 2026
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MP urges better energy relief for elderly persons BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net THE OPPOSITION’S finance spokesman yesterday urged the Government to introduce a more-targeted energy assistance programme for vulnerable Bahamians given that high electricity costs can become a health issue for seniors who depend on powered medical equipment. Kwasi Thompson, the East Grand Bahama MP, made the call during debate on the Older Persons' Rights, Protections and Care Bill, stressing the Government should go beyond simply stating that tax relief, concessions and discounts on utilities may be made available to older persons. He said electricity is not merely another household expense for some elderly Bahamians, particularly those who rely on medical equipment that requires a
continuous power supply or medications that must be refrigerated. “For some elderly Bahamians, an interruption in electricity is more than just an inconvenience; it is a health issue,” said Mr Thompson. He recounted two cases in East Grand Bahama involving patients who depended on oxygen equipment and said both died at home after power interruptions left them unable to access the equipment. “Electricity is a part of their healthcare,” Mr Thompson said, arguing that the Government should establish clear programmes that tell vulnerable elderly customers exactly how much assistance they can receive when they cannot afford their electricity bills. The call comes as Bahamian households continue to face elevated energy and transportation costs. Newly-released July consumer price index (CPI)
data showed gasoline prices were 21.4 percent higher than a year earlier, while diesel prices increased 33.4 percent and transportation costs rose 12.9 percent. Overall inflation was 3.6 percent year-over-year. Mr Thompson said those increases have an even greater impact on seniors living in communities such as McLean's Town and other eastern settlements of Grand Bahama, where residents can face long journeys to Freeport for medical appointments and other essential services. He said the Government has tools available to provide relief to households facing higher energy costs, and argued that assistance should be easily accessible to those who genuinely need it. The Government already provides utility assistance through the Ministry of Social Services to individuals and families whose water or electricity has
MP: Gov’t’s economic talk failing to match the reality BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net THE OPPOSITION’S finance spokesman yesterday said the Government’s touting of its economic performance is failing to match the reality facing many Bahamian households as he pointed to weaker growth alongside persistent cost of living pressures. Speaking in Parliament yesterday, Kwasi Thompson, the east Grand Bahama MP, said the Government could not rely on projected fiscal surpluses and headline economic figures while Bahamians continued to
struggle with the cost of food, electricity, gasoline and other basic necessities. He pointed to recent assessments from international rating agency Fitch, which reported that the Bahamian economy contracted by 1.4 percent in the fourth quarter of 2025 - the first quarterly contraction since 2020 - and forecast economic growth slowing from 3.8 percent in 2025 to 1.8 percent this year. “This dramatic loss of economic momentum demands an explanation from the Government,” said Mr Thompson. He also pointed to inflationary pressures, noting that the Bahamas National
Statistical Institute (BNSI) reported inflation at 4.2 percent in the 2026 second quarter. The latest July CPI data subsequently showed annual inflation of 3.6 percent, while transportation costs were up 12.9 percent year-over-year. Gasoline prices rose 21.4 percent and diesel increased by 33.4 percent over the same period. Mr Thompson argued that the combination of slower growth and higher costs presented a more important measure of economic performance than the Government's fiscal projections. “The economy is slowing while the cost of living
been disconnected, or who are facing disconnection, with assistance capped at $600 per year. The Government's broader energy policy has also included measures intended to reduce electricity costs for vulnerable BPL customers, including the equity rate adjustment, which was introduced to reduce bills for many residential customers and create a safety net for BPL's most vulnerable subscribers. Mr Thompson's proposal came as the Opposition continues to press the Government for greater relief from rising energy-related costs. He separately renewed criticism of the Government's decision not to adopt an earlier Opposition proposal to temporarily cap VAT collected on fuel when international oil prices rise, pointing to Barbados as an example of a government
using tax policy to cushion consumers. But Mr Thompson argued that relief must extend beyond fuel prices to households facing the more fundamental challenge of keeping their electricity connected. “For the most vulnerable families, we ought to examine and implement a targeted caregiver financial assistance,” he said, arguing
that support should help families caring for elderly relatives without financially overwhelming the household. Mr Thompson said the same principle should apply to older Bahamians who are struggling to meet basic utility costs, particularly when electricity is directly tied to their health and ability to remain safely at home.
most certainly is rising,” he said. “Government cannot simply point to a headline economic number and tell Bahamians things are getting better when too many families are experiencing something very, very different.” Mr Thompson said responsible public finances remained important because many Bahamians depend on government-supported services and assistance, particularly those who cannot simply absorb higher household costs. He also questioned whether the Government's projected surplus would translate into meaningful relief for households facing higher expenses. “Bahamians live in the real economy. They feel it at the food store, at the gas pump, in their electricity bills and in
their pay cheques,” said Mr Thompson. The Government's fiscal projections have pointed to a surplus for the 20262027 financial year, while the Central Bank has said the domestic economy maintained positive growth during the second quarter, supported by tourism and construction activity. It also noted, however, that inflationary pressures increased as higher global oil prices passed through to imported fuel and other goods and services. Mr Thompson said the Government's economic policies should ultimately be judged by whether households are becoming better able to meet their expenses and build wealth, rather than by fiscal and economic indicators alone.
Workers allegedly exploited while building US consulate in Milan sign deals for record payout
KWASI THOMPSON
By COLLEEN BARRY Associated Press FOREIGN workers building the vast new U.S. consulate compound in Milan signed agreements at a Milan hotel Wednesday securing payouts averaging 45,000 euros ($50,400) each for alleged labor abuses while working for an American construction company. More than 60 laborers, mostly from India, signed the deals Wednesday to receive their share of a 31-million-euro (nearly $35 million) settlement agreed last month with Alabama-based Caddell Construction. The signings began Tuesday. Prosecutors say it is the largest settlement ever for labor exploitation in Europe. Each worker signed a document seen by The Associated Press agreeing not to discredit Caddell and not to disclose the individual payments. Caddell said in the document that the settlement was not an admission of liability. Individual payments are to be made within 30 days of the signing. The workers saw the potentially life-changing sum in black-and-white for the first time at the signings — with the highest reaching nearly 90,000 euros (nearly $101,000), said Francesco Brigatti, the court-appointed administrator working to return the consulate construction site to legality. The payouts combine unpaid overtime, reimbursement for housing illegally deducted from their pay and hefty damages personally sought by investigating Prosecutor Paolo Storari, Brigatti said. “The damages component alone amounts to 60–70% of the overtime total,” Brigatti said, well above the 10% to 30% that he said is more customary in such cases. Dilip Ram, a 43-yearold mason from India, has worked at the Milan consulate site for more than two years. He said the money would go a long way to helping his family of five back home in the Indian state of Bihar. “Things are better now than before … we get more rest now,” Ram said, after signing the deal. “This has led to a lot of change. This settlement will be good. Because the workers had troubles, that’s why this settlement has been applied.” Over two days, 115 workers signed the deals, with the procedure continuing next week.
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Thursday, October 8, 2026, PAGE 5
Opposition challenges Golden Yolk’s progress BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net THE OPPOSITION’S agriculture spokesman yesterday challenged the Government to explain how its Golden Yolk initiative can expand from its current 200,000 eggs to the millions originally promised, while questioning how much more taxpayer money will be required to reach that target. Leo Ferguson, the FNM’s MICAL MP and shadow agriculture minister, asserted that - more than three years after its February 2023 launch - the Government’s flagship agriculture project has yet to show it can deliver the scale of production needed to significantly reduce The Bahamas' reliance on imported eggs. “The Golden Yolk project was sold as a symbol of resilience and self-reliance, but three years and $15m later, it stands as a symbol of poor planning, lack of accountability and broken promises,” said Mr Ferguson. He questioned the gap between the programme's original production ambitions and its current output, asking: “How do we scale from 200,000 eggs to 13 million? Must we wait 15 years to achieve even one million eggs? At what additional cost?” Mr Ferguson also questioned whether the programme's economics can support the Government's objective of reducing the country's dependence on imported eggs. “The economic case has also collapsed,” he said, pointing to the price of Golden Yolk eggs compared with cheaper imported alternatives. Golden Yolk has produced 200,000 eggs to-date, according to Prime Minister Philip Davis KC, who visited the project this week. It currently has 10,000 laying
hens in production and about 8,000 pullets being raised to add to future output. Mr Davis said the Government's focus is now on turning that capacity into a consistent supply of Bahamian-produced eggs, reducing reliance on imports and creating opportunities for local farmers and businesses. But Mr Ferguson said the latest production figure needs to be considered against the scale of the original ambition. When Golden Yolk was launched in February 2023, the Government said the $15m initiative would increase domestic egg production from roughly 700,000 eggs annually to about 28 million eggs through a network of poultry houses across New Providence and the Family Islands. The project was also promoted as a means of reducing the country's egg import bill and moving The Bahamas toward self-sufficiency. Mr Ferguson said Bahamians deserve a clear accounting of what has been spent and what production targets remain achievable. “How many more millions must be invested to accomplish the goal of self-reliance the Prime Minister so confidently boasted?” he asked. The MICAL MP is also calling for greater transparency around the
programme's financial and operational performance, including what he described as a need for “a full accounting of the program's structure, a detailed breakdown of all expenditures associated with egg production, and a clear, realistic timeline for increased output”. The cost of the initiative has previously been disputed by the Government and Opposition. Michael Pintard, the FNM leader, alleged in April 2026 that between $50m and $60m had been spent on Golden Yolk, while government officials rejected that figure and maintained that the original $15m allocation had not all been spent. A government document reported by The Tribune at the time showed an original construction contract of about $23.4m, with contingency bringing that allocation to about $25.7m, while an additional $14.6 million was identified for civil and site works. The project has also faced criticism over its lengthy roll-out. In February 2026, Mr Davis acknowledged delays but said the initiative was finally moving forward, forecasting production of about 8,000 eggs per day once the 10,000 birds were fully in production. Pricing has emerged as another challenge. Golden Yolk eggs were selling for under $5 per dozen in June,
down substantially from their earlier price, but they remained more expensive than imported alternatives. Jomo Campbell, the agriculture and marine resources minister, defended the premium by arguing that the locally-produced eggs' quality justified the cost. Mr Ferguson argued this raises a broader question about whether the programme can deliver genuine import substitution at an economically sustainable
price. “Is cost-effectiveness and self-sustainability in egg production even achievable under this model?” he asked. His comments come as the Government seeks to present Golden Yolk's latest production figures as evidence that the programme is finally moving towards its intended scale. Mr Davis said this week that the focus is on converting the project's existing capacity into a consistent
domestic supply while creating opportunities for local businesses and farmers. Mr Ferguson said the Government must now demonstrate that progress with measurable results. “The Bahamian people are not asking for miracles. We are asking for results, for accountability, and for respect for the public purse,” he said.
PAGE 6, Thursday, October 8, 2026
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Thursday, October 8, 2026, PAGE 7
JUDGE PARKER
CARPE DIEM
MARVIN BLONDIE
HAGAR THE HORRIBLE
TIGER
CALVIN & HOBBES
DENNIS THE MENACE
CRYPTOQUOTE AXYDLBAAXR is L O N G F E L L O w One letter stands for another. In this example, A is used for the three L’s, X for the 2 O’s, etc. Single letters, apostrophes, the length and formation of words are all hints. Each day the code letters are different. Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Sudoku increases from Monday to Sunday
Yesterday’s Sudoku Answer
MICRO CROSSwORD
CHALLENGER
Yesterday’s Answers
PAGE 8, Thursday, October 8, 2026
THE TRIBUNE
‘Gov’t making more in VAT than dealers in gross profit’ TRANSPORT - from page B1 allow employees to work from home where feasible to reduce consumption. The Chamber, in a statement yesterday, called on the Government to urgently consider temporary and targeted tax or other relief measures as gasoline prices near $7.50 per gallon. Mr Williams said the greater concern is that many businesses have not yet passed their increased fuel and operating costs on to consumers, raising the prospect of further rises if the pressure continues. “Now the problem that we’re facing is a lot of businesses have not increased their prices to offset the increase in fuel,” Mr Williams said. “So as the Chamber, we’re more concerned about at what point are businesses now going to be forced to increase their prices on their goods and services to be able to facilitate their increase in overall overhead.” The Chamber said the impact of higher fuel prices extends beyond the pump, with increased transportation, delivery, employee commuting and equipment costs flowing through supply chains and ultimately affecting consumers. It warned that smaller businesses could be particularly vulnerable because sustained fuel increases can erode already narrow profit margins when combined with rising wages, insurance, utilities and imported goods costs. Mr Williams said businesses have been encouraged to continue making operational adjustments, but warned that those measures have broader economic implications. Gasoline prices have risen substantially since the beginning of the year, with the latest increase expected to take prices to about $7.50 per gallon. A previous
Tribune Business report found that Esso dealers had been notified of a 44 cent increase that would take gasoline from about $7.06 to $7.50 per gallon. The Chamber said there is no single fuel price at which every business becomes unsustainable, as the impact varies by sector, business size and fuel dependence. However, it said the cumulative effect of prolonged increases is the greater concern. Mr Williams said workfrom-home arrangements have already become one tool businesses are using to reduce costs, although the option is not available across all industries. He cautioned that such arrangements are not practical for businesses that require workers to be physically present, including gas stations, retail operations, medical services and other customer-facing businesses. “A back office operation may be able to sustain a work from home environment,” he said. “But for those that are in service, retail, things like medical industries, anything that is customer-based, where you have to meet and greet or provide a service face-toface, it’s difficult to now see them having these workfrom-home policies.” The Chamber said the Government should examine measures such as reviewing the10 percent VAT applied to fuel or establishing temporary relief mechanisms while
international fuel prices remain elevated. Dr Minnis has separately proposed a reduction of the VAT rate on gasoline to 5 percent, eliminating VAT on diesel and applying lower rates to businesses and home owners as part of a broader effort to ease high energy and transportation costs. His diesel proposal is aimed particularly at industries such as fishing, boating, construction and heavy equipment, which depend heavily on diesel and could face further pressure as fuel prices rise. Fuel retailers have also renewed concerns about the impact of the current tax and margin structure. Clyde Rashad, an Esso gas station operator, described the current price environment as unprecedented but said retailers must continue operating despite the pressure. “It’s unprecedented what we’re seeing in terms of prices, but we got to roll with the punches and do the best we can,” Mr Rashad said. He added that retailers had only recently received an increase in their margins, while their operating costs have continued to rise alongside the cost of purchasing fuel. When asked whether dealers should receive another margin increase, Mr Rashad said the measure would ultimately place additional pressure on motorists. “Ideally, that wouldn’t be what anybody wants,
because the consumer is going to be the one who pays that ultimately,” Mr Rashad said. “So, like I said, given that we just had an increase, we’re going to have to do the best we can with VAT and just roll with the punches.” He said his focus will instead be on improving efficiency and reducing expenses. “I’m just going to do the best I can to improve my operation and cut down on expenses,” Mr Rashad said. However, Bernard “Porky” Dorsett, operator of Porky’s Rubis Service Station, argued that the Government is now benefiting more from the higher fuel price through VAT than retailers are earning through their gross margins. “The Government now making more money on VAT than we making on our gross profit,” Mr Dorsett said. He called for VAT to be removed temporarily, arguing that service station operators face a range of expenses that the Government does not. “They don’t have no business to run,” he said. “We
got staff, insurance, light bill, water bill, every other kind of bill. They need to drop the VAT because they right now taking home more money than we take home.” Mr Dorsett also renewed the industry’s long-standing argument that dealer margins should be percentage-based rather than fixed. “When they give us a fixed margin, the higher gas go, the more money they make and the less we make,” he said. The Government increased gasoline dealer margins from 54 cents to 79 cents per gallon in 2024, while diesel margins were increased to 50 cents, following years of lobbying by service station operators. Dealers have continued to argue that a percentage-based margin would better cope with rising fuel prices and operating costs. The Chamber said the Government must balance any relief measures against its revenue needs, but argued that the economic cost of continued price increases must also be considered.
“If businesses are forced to substantially increase prices, reduce services, cut employment or scale back operations, the consequences could extend throughout the wider economy,” the Chamber said. Mr Williams said the Chamber has also been engaging with retailers to explore possible ways to ease the pressure, although no agreement has yet been reached. “So we’ve been trying to work out proper dialogue with one or two of the retailers to see what it is that can possibly happen to assist,” Mr Williams said. “That’s open dialogue. We haven’t been able to come to a decision per se as to what would be the way forward.” Tribune Business waas unable to reach Leon Lundy, minister of transport, for comment on whether the Government is considering reducing or removing VAT on fuel, as well as what measures his ministry plans to pursue to assist fuel retailers and consumers facing higher costs.
THE TRIBUNE
Thursday, October 8, 2026, PAGE 9
Marinas chief: Situation ‘makes no sense at all’ CLEARANCE - from page B1 letter to Captain Hutchinson, wrote: “Our member marinas report that Bahamas Customs officers at ports of entry have been instructed by the Port Department not to accept a Bahamas Maritime Authority yacht registration as valid registration when vessels clear into the country. “Owners and captains presenting the current BMA certificate of registry are being told it is insufficient, and in some cases are being directed to obtain a separate Port Department registration or local licence before clearance can be completed. We understand this has occurred at ports of entry, for example, Nassau, Bimini, Marsh Harbour, and have been made aware of incidents involving a few vessels.” Warning that this “is causing real harm”, and could undermine “the integrity of The Bahamas’ yacht registry itself”, Mr Maury cited what the ABM sees as potential consequences. “Owners who chose the Bahamian flag are being penalised for it,” he argued. “Yachts registered with the BMA under the Merchant Shipping Act are vessels of The Bahamas. Refusing that registration at our own border places these owners in a worse position than foreign-flagged visitors. “The registry’s reputation is at risk,” the ABM president added. “The BMA actively promotes The Bahamas flag to yacht owners internationally. Word that the registration is not recognised by our own Customs officers will travel quickly through the brokerage and captain community, and will discourage new registrations. “Officers on the ground are left in an impossible
position. Customs officers are receiving guidance that conflicts with the national registry, and captains receive different answers at different ports.” Mr Maury urged the BMA to contact the Port Department and Bahamas Customs “to confirm that a valid BMA certificate of registry is accepted as proof of registration for clearance purposes”. It also called on the agencies to issue written guidance to all Customs officers, and “withdraw any conflicting instruction, and for them to meet with the ABM and Bahamas Yacht Brokers Association to the latter “can share what our members are seeing”. However, Captain Bethel told this newspaper that without more hard evidence “I cannot tell you what’s happening” with the situation described by the ABM and its marinas. He promised, though, to “reach out” to Captain Hutchinson and the London-headquartered BMA while calling on the marina industry to bring any concerns to himself and the Port Department. “The marinas ain’t never spoken to us. This is brand new,” he said. “I don’t know which one of my representatives told Customs that [Bahamas-flagged] super yachts cannot use their registration for clearance. Foreign vessels doing charters have to come to us for a foreign charter licence, and I’m hoping there is no confusion there. “I’m not aware of these incidents and also, for the record, registered vessels, if you are coming in as pleasure craft to cruise, Customs deals with that.” Captain Bethel clarified that cruising permits are required only by foreign-flagged pleasure vessels, not those titled locally with a Bahamas port and numbers or
NOTICE
NOTICE is hereby given that I ENID LEWIS of Nassau Village, Wilson Street, 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 1st day of October, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE OF APPLICATION (pursuant to section 23 of the Natural Gas Act, 10 of 2024, Statute Laws of The Bahamas) NOTICE is hereby given that RenugenPro Ltd. has made applications to the Utilities Regulation and Competition Authority (“URCA”) for licenses to: import liquefied natural gas (“LNG”) (commercial) and operate LNG terminals. The applications are made with the object of licensing and regulation of the Applicant’s activities for the import of LNG and the operation of LNG Regasification Terminals at (1) Cat Island (2) San Salvador and (3) Long Island. The applications can be inspected by appointment at the Applicant’s office at No. 138 Robinson Road, New Providence, The Bahamas. Any objections to the applications must be made on or before the 16th October, 2026 and shall be made by Affidavit and solemn declaration to be submitted exclusively to URCA’s office located at Frederick Street, Nassau, New Providence, The Bahamas. Dated the 14th day of September, 2026 Italia C. Chambers Attorney for the Applicant No. 36 Nassau Street New Providence, The Bahamas
carrying this nation’s flag under the BMA’s registry. However, he added that BMA registration does not exempt a vessel’s passengers or cargo from having to go through official entry clearance via Customs and Immigration at a designated port of entry. And, if entering The Bahamas for commercial use, such as to conduct charters, it must pay the necessary processing fees and taxes. Speaking to what he views as the likeliest explanation for the marina industry’s concerns, Captain Bethel said: “It only becomes an issue when these vessels are chartering. Maybe that was the case, and our representatives told them that, yes, you are registered under the BMA, but you are conducting a charter and that cannot happen without getting a charter licence. That’s the only situation in my mind.” Calling on the ABM and marinas to provide evidence to back up their concerns, the Port Department chief added: “It’s a ‘you say, I say, he and she say’ kind of thing. I ain’t into that. It’s not the way I operate. I am a creature of the Government. “I believe that revenues.. I think we we are the third
biggest revenue generator in the country. I don’t want to see that jeopardised over misunderstandings or misinformation. That’s where I’m at. If there’s someone in port, or there is a vessel in port, that can verify those claims…. I can only tell you what the law is.” Similarly, Mr Munroe told Tribune Business he could recall discussions over whether a Bahamian-flagged yacht or other vessel also needs to be registered here. “The issue seemed to revolve around ownership; whether the ownership of the vessel was Bahamian or foreign,” he said. “A vessel bearing the Bahamian flag, if it was foreign owned, even if under the Bahamian flag it is not able to engage in charter services in The Bahamas [without the required fees and permit]. That was the crux of the matter; the ownership of the vessel. It must be Bahamian owned.” Mr Maury, meanwhile, said the BMA had already responded to the Association’s letter and informed him that it is “going to have a meeting with Customs and the Port Department to find out what’s going on”. The ABM president said he had recently experienced
the situation involving the clearance of BMA-registered vessels at his own Bay Street Marina, while other operators had informed him they have “run into it a couple of times”. Asserting it is vital that any confusion is resolved ahead of the upcoming winter boating season’s November/December start, and to support the Ministry of Tourism’s recently-launched campaign to attract more mega yachts to The Bahamas, Mr Maury said: “We are going to get busy again, and have more boats coming in, but this is just going to drive people away from registering with the BMA. “The Mediterranean season is finishing, so we are hoping that as those boats come to the Caribbean they’ll stop in The Bahamas.” These vessels represent a lucrative source of high per capita visitor spending that boosts the Bahamian economy, but Mr Maury said: “Recently we have had several complaints where yachts registered under the BMA, the Port Department is saying they have to be registered with it as well. “For someone to register a 140-foot yacht, they cannot register under just
the Port Department. It doesn’t cover the size of the vessel, and the Port Department is more like a local registry. Those boats travel all over the world, go to other countries, which is why the BMA and Bahamas flag is accepted around the world. “It makes no sense to say they have to be registered with the Port Department, which is like a local registry. The problem also is that the Port Department doesn’t register vessels that are not locally owned. To decline entry to BMA-registered vessels, it’s totally backwards. I don’t understand what’s going on. They are trying to make it harder and harder for people to come to The Bahamas. The BMA is a respected flag around the world. What are we even doing?” Mr Maury said super yacht owners would be incentivised to switch their flag state to rival jurisdictions such as the Cayman Islands and Jamaica since they will now have an easier task of clearing into The Bahamas. “You have Bahamian brokers that do this for a living and they are going to lose clients,” he added. “This has no foundation, no legal foundation, because it’s not legislated.”
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Commission says disputes becoming more complex DISPUTES - from page B1 “While fewer complaints is encouraging, the real measure of our work is whether consumers are seeing meaningful results,” said Mr Lowe. “A recovery rate of 90.5 percent demonstrates that the Commission is making progress, but it also reminds us that there is much more to do.” The Commission received 185 complaints between
January and September 2026, down from 270 during the same period last year, representing a 31.5 percent decline in overall complaint volume. Despite the reduction, motor vehicle sales and repairs; freight forwarding and shipping; construction and contractor disputes; timeshare cancellations; credit card surcharges; unfair trade practices; defective goods; refund disputes; and failure to provide
paid-for services remained among the most common areas of concern. The Commission has also identified solar contractors and financial institutions as emerging areas of risk requiring continued monitoring. Mr Lowe said the Commission’s next phase will focus on strengthening collaboration between the public and private sectors to address gaps in consumer protection, arguing that the
watchdog cannot achieve its objectives by working in isolation. “We have a vision for a stronger CPC, and that vision cannot be achieved by the Commission working in isolation,” he said. “We have to continue to work alongside agencies responsible for price control, revenue, trade and business, as well as the Chamber of Commerce and other stakeholders to ensure the necessary checks and balances are in place for a functioning marketplace.” The Commission is also seeking to strengthen its statutory investigative and enforcement powers
through law reforms, while expanding targeted consumer education in high-risk sectors. Mr Lowe said the Commission also wants to shift more of its work towards proactive compliance and enforcement rather than responding only after consumer disputes arise. “Our goal is not simply to respond when something goes wrong,” he said. “It is to help build a culture of compliance, accountability and informed consumers before disputes arise. That is the direction in which we are moving.” The Commission said consumer engagement with
its services is also becoming increasingly digital, with e-mail submissions rising by around 35 percent while hotline use and walk-in complaints declined. Women continue to account for around 60 percent of consumers using the Commission’s dispute resolution services. The Commission said it will continue investing in its digital systems, and is encouraging consumers who believe they have experienced unfair or deceptive business practices to contact it and exercise their rights.
THE TRIBUNE
Thursday, October 8, 2026, PAGE 11
Regenerative provider eyeing Bahamas medicine production HEALTH - from page B1 “It enables companies like Hemostemix to conduct a commercial clinical trial, and that enables patients from all over the world to access treatment under a clinical trial setting. It really creates a ‘two for one’, if you will, where companies obtain the scientific data and are able to publish the results, and do so from a foundation and trial for commercial sales.” Asked how The Bahamas’ legal and regulatory regime compares to rivals in the commercial and regenerative medicine space, Mr Smeenk told this newspaper: “I think it’s very competitive globally, uniquely positioned in North America. Generally speaking, there are other jurisdictions such as South Korea and others that enable stem cell therapy treatments in an environment like this but, for North America, The Bahamas is really in the lead.” He spoke out after Hemostemix announced it had received full approval from the LARTA Board, including its ethics committee, to conduct a first-phase study of VesCell, which is designed to treat angina, vascular dementia and associated pain. Angina is chest pain or discomfort that happens when the heart muscle does not get enough oxygen-rich blood, while vascular dementia results from a decline in thinking cells caused by reduced blood flow. Mr Smeenk said Hemostemix will now have to determine set-up and launch timelines, and find a suitable physical location in The Bahamas, but added: “We’ll be working very closely with Doctors Hospital and the staff there to treat and welcome patients to The Bahamas.” He added that staffing in The Bahamas will gradually ramp up as Hemostemix’s activities, and the number of patients that visit, increase. Mr Smeenk said it will immediately need at least six persons to provide “concierge type services” in transporting patients from the airport to their hotel, and then to Doctors Hospital and other locations that Hemostemix may be using. “I think if you take a longer term view over five years, when we are successful, in terms of our business plan we would be generating say $6m, up to perhaps $9m, a year in activity,” Mr Smeenk told Tribune Business. “I think that, longer term, there’s a significant opportunity to perhaps produce our product in The Bahamas and thereby employ the biotechnology-educated type of individual to produce that certainly in The Bahamas. “These are early days, but that is an opportunity.” Asked about the economic opportunities that the regenerative medicine industry offers The Bahamas, Mr Smeenk said studies suggest there are up to 25 million wealthy individuals globally seeking the kind of treatments the sector provides. “I think that it is a multi-million, approaching a billion dollar, industry and sector,” he added. “Even if you look at it from the perspective, and I would be conservative, of one patient a day being treated - to build from one per day to two per day, four per day and ten per day - in our modelling there are some 23 million or 25 million high net worth individuals globally who are seeking what Hemostemix offers and what other companies in the longevity space offer.” Hemostemix’s website lists Dr Desirée Cox, a Bahamian Rhodes Scholar and Cambridge University graduate who played a key role in establishing the LARTA Act, on its Board of Directors. It describes her as a “physician, scientist, bioethicist” who has worked in medicine, ethics, public policy and regenerative medicine. “For more than a decade, Dr Cox has led regenerative medicine ethics and governance in The Bahamas, chairing the National Stem Cell Ethics Committee and helping build the legislative
framework behind the country’s Longevity and Regenerative Therapies Act (LARTA) — positioning The Bahamas as a hub for responsible longevity science,” Hemostemix said. “She is the founder of HEALinc, a global health innovation platform working to make regenerative, longevity-enhancing technologies more accessible.” Hemostemix will now join Ocugen, a US-based provider of gene therapies for blindness, and Neurogen Brain & Spine Institute, the Indian operator that treats “incurable neurological disorders”, among the regenerative providers attracted to The Bahamas and moving through the approvals process. Mr Smeenk said Hemostemix’s treatment is “unique” in that it uses stem cells, originating from the patient themselves and their DNA, to create new blood flow and circulation wherever there is “inflammation” in the body through “creating a natural bypass” around whatever vascular obstacles and restrictions exist. He added that this enables the heart to beat faster, and prevents the loss of limbs due to amputation as a result of blood flow restrictions. The Hemostemix chief said initial tests had shown that its products “saved 60 percent of limbs in the first
stage trial that would otherwise have been amputated”. He added that, after three months, there were “zero amputations” in the patient group receiving its treatments but six among those who did not. And, two years later, testing revealed that there were no deaths among the Hemostemix treatment group, with “70 percent of limbs saved”, compared to a 20 percent mortality rate among those who did not take its drugs. Mr Smeenk said the company was also running a clinical trial with Doctors Hospital on vascular dementia which showed its treatments resulted in an improved cognitive state for patients. Dr Michael Darville, minister of health and wellness, recently told Tribune Business that he soon plans to bring reforms to the governing Longevity and Regenerative Therapies Act 2024 to Parliament in a bid to strengthen the legislation and make it even more user-friendly. The legal amendments, he added, will be joined by completion of the Act’s accompanying regulations and implementation of a “very robust digital platform” that will allow the authorities to more efficiently monitor and oversee the regenerative medicine industry’s impact on The Bahamas.
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“We’ve learned a lot since the passing of the Act. These things are moving so rapidly we have to race behind and keep up as it relates to those in the world of longevity and regenerative medicine,” Dr Darville said. “This is the first amendment brought to Parliament. “It will allow us further efficiency, and to implement a digital platform so we are actually more efficient in monitoring and collating the impact in the country. We have a very robust digital platform that we are about to finalise along with the regulations and
amendment to the LARTA Act that’s already making waves internationally, and attract really good people to our jurisdiction - not only for the treatments, but medical tourism for The Bahamas.” Asked about the economic potential that regenerative therapies hold for The Bahamas, and the likely impact if a local industry develops, Dr Darville described it as a multi-billion dollar global sector with the largest market on this nation’s doorstep. “The Bahamas, with its close proximity to the US,
which is the largest market for individuals seeking these types of therapies, we anticipate getting a big chunk of the medical tourism market,” the minister said, while not placing a dollar figure on the value. “It opens, for the first time in the country’s history, it opens a medical tourism industry. We have a real medical tourism product that we can benefit from - the travel as well as the presence of this new industry in the country” that could offer new and innovative treatments for Bahamians too.
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Mobile operator enjoys 11% inbound roaming increase EXPAND - from page B1 percent year-over-year amid a $17.6m investment in the mobile operator’s network. “Consumer mobile revenue increased by 4 percent year-over-year, with growth recorded across nearly every segment,” Cable Bahamas said. “Aliv also achieved a porting ratio of 2.37-to-one, meaning more than twice as many customers transferred from the competitor [BTC] to Aliv than moved in the opposite direction. “Monthly prepaid revenue grew by nearly $1m, signalling a shift towards higher value plans and demonstrating continued confidence in the quality, reliability and value of the Aliv experience. Aliv’s influence also extends beyond the domestic market. Visitor roaming revenue grew by 11 percent during financial year 2026, supported by strong
relationships with major global carriers. “The company continued to carry approximately 75 percent of roaming traffic entering The Bahamas, reflecting the confidence international partners place in the performance of its network. During 2026, Cable Bahamas and Aliv mobile invested $17.6m in network improvements, including the completion of the fibre-to-the-home network roll-out in Abaco,” the BISX-listed communications provider added. “Aliv mobile also activated four new sites across New Providence, Grand Bahama and Abaco and completed 26 capacity expansions, including nine in the Family Islands and 17 in New Providence…. Average daily mobile data traffic increased from 120 terabytes to 160 terabytes, while average mobile download speeds improved from 12 Mbps (megabits per second) to 16 Mbps.” Cable Bahamas added that its MiFi wireless
broadband services generated more than $1m in year-over-year growth, with Aliv also employing an “artificial intelligence (AI) driven customer behaviour and campaign management platform” to give it :deeper insight into customer needs”. Cable Bahamas’ profitability surge comes as the group moves from its capital intensive network build-out and growth phase, with heavy infrastructure investments resulting in past annual losses, into a new stage where it is now seeking to execute and convert that outlay into net income and improved shareholder returns via the resumption of quarterly dividends and a rising stock price. Revealing that the roll-out of its Alive Fibr network in New Providence and Abaco is already generating greater yields per subscriber, Cable Bahamas’ annual report said: “In June 2026, Aliv Fibr broadband generated an average revenue per user of $56
compared with $48 on the legacy hybrid fibre-coaxial (HFC) platform. “By the end of June 2026, we had connected 39,092 subscribers to Aliv Fibr in New Providence, compared with approximately 23,000 at the end of financial year 2025. This represents year-over-year growth of approximately 63 percent, with the company adding nearly 15,000 fibre subscribers during the fiscal year…. “At the end of financial year 2026, we successfully completed the full migration of 29 neighbourhoods across New Providence. This resulted in 12,505 HFC customers being migrated to Aliv Fibr, marking an important step in the company’s broader network modernisation efforts.” Praising the workers behind the fibreto-the-home roll-out, Cable Bahamas added: “Aliv Fibr technicians completed an average of approximately 1,700 installations per month during financial year 2026, our highest
installation volumes to-date. Even as activity accelerated, customer satisfaction with technicians remained a notable strength… “Financial year 2026 marked the official expansion of Aliv Fibr into Abaco, our first Family Island market. By the end of the fiscal year, the network totalled 576 subscribers. The expansion created new opportunities to serve households, small and medium-sized businesses, hospitality operators, remote workers and organisations requiring dependable, high-capacity connectivity. “This was also an opportunity to establish a more complete, locally supported service in the Family Islands. Unlike satellite options, Aliv Fibr is built to withstand inclement weather and provide customers with Internet connection for up to eight hours during a power outage.” Mr Butler, in his message to investors and Cable Bahamas shareholders, confirmed that the company is looking at expanding its data centre capabilities beyond server hosting and disaster recovery. “During financial year 2026, we also laid the foundation for a new data centre site, moving our offering beyond traditional server
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hosting towards modern computing capability while adding resilience to our own operating systems,” he said. “This creates new possibilities for businesses, public institutions and digital services that need secure, dependable infrastructure close to home. “Global telecommunications operators are making the same connection: Eighty percent attribute between 31 percent and 50 percent of their digital value to foundational and core platforms – the networks, cloud infrastructure and data systems that determine how quickly and reliably new services can be delivered… “The stakes are real. Across the telecommunications sector, 91 percent of organisations are investing in agentic AI to prepare for a workforce in which people and digital tools operate together, yet 47 percent of employees report feeling left behind,” the Cable chief added. “That gap defines both the opportunity and the responsibility before us. We must adopt new technology with ambition while equipping our people to use it confidently. This requires continued investment in data governance and reinforces our existing focus on data analytics and reporting.”
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NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000 Octabank Ltd. (IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that in accordance with section 138(4) of the International Business Companies Act, 2000, as amended, Octabank Ltd. is in dissolution. The dissolution of the said Company commenced on 5 October 2026 when the Articles of Dissolution were submitted to and registered with the Registrar General in Nassau, The Bahamas. The Sole Liquidator of the said Company is L. Michael Dean of Equity Trust House, Caves Village, West Bay Street, P.O. Box N-10697, Nassau, Bahamas. L. Michael Dean Sole Liquidator NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000 Octabank Investment & Arbitrage Ltd. (IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that in accordance with section 138(4) of the International Business Companies Act, 2000, as amended, Octabank Investment & Arbitrage Ltd. is in dissolution. The dissolution of the said Company commenced on 5 October 2026 when the Articles of Dissolution were submitted to and registered with the Registrar General in Nassau, The Bahamas. The Sole Liquidator of the said Company is L. Michael Dean of Equity Trust House, Caves Village, West Bay Street, P.O. Box N-10697, Nassau, Bahamas. L. Michael Dean Sole Liquidator
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Thursday, October 8, 2026, PAGE 13
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