business@tribunemedia.net
Friday, OctOber 16, 2026
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$39.3m Budget surplus used ‘every single trick’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net THE OPPOSITION’S chairman yesterday accused the Government of employing “every single trick” to derive its $39.3m Budget surplus after the latter confirmed June’s huge revenue and spending jumps resulted from “offsetting” transactions. Dr Duane Sands questioned to Tribune Business how loss-making state-owned enterprises (SOEs) were able to declare and pay dividends to the Public Treasury, driving a more than seven-fold year-over-year jump in ‘other’ non-tax revenue to $172.8m in June 2026, when they are already “deep in the red”. And he also challenged the near-$729m in short-term loans made to multiple government agencies, which rose by $131.7m or 22.1 percent
Opposition chair: Gov’t ‘has been very creative’ Says SOEs have no way to repay $132m loans Challenges how lossmakers can pay dividends during the recently-closed 2025-2026 fiscal year, according to the Ministry of Finance’s June 2026 report. Dr Sands argued that these are subsidies disguised as advances, so that the Government can account for them as investments and assets to keep them from adding to its spending, even though the recipients are loss-making entities that generate no income or revenue streams
capable of repaying Bahamian taxpayers. “They have been very creative,” the Opposition’s chairman argued in response to Prime Minister Philip Davis KC’s declaration of the first-ever annual Budget surplus in The Bahamas’ post-Independence history. ”Their so-called subsidies to government corporations that have no way to pay those subsidies back, they are
Retirement age, minimum wage increases now loom BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday revealed the ages of 62 and 67 are “sticking” in early debate on raising the retirement age, with “another increase” in the minimum wage also likely “in the near future”. Pia Glover-Rolle, minister of labour, the public service and National Insurance, told the Exuma Business Outlook that consultation will occur
Creation of ‘wage-setting Council’ eyed with all stakeholders before any final decision is made on reforms set to impact every Bahamian as she voiced hope that retirement age changes can be implemented “sooner rather than later”. Raising the retirement age has been suggested as part of a reform package to rescue
DPM reassures Exuma on mass cruise tourism BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net THE DEPUTY prime minister yesterday reassured his Exuma constituents that Royal Caribbean’s pending $3bn acquisition of 50 percent ownership in the Sandals resort chain will not expose the island to mass cruise tourism. Chester Cooper, the Exuma and Ragged Island MP, and also minister of education, science and technology, told the Exuma Business Outlook conference that the cruise line’s investment and involvement will aid the redevelopment of the
CHESTER COOPER former Sandals Emerald Bay into a Beaches resort and help revive the island’s tourism sector. He said Royal Caribbean’s 50 percent stake in Sandals represents a significant development for Caribbean tourism, while
VOYAGE - See Page B4
Bahamas creating ‘land barons’ via Quieting law BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net A BAHAMIAN economics professor yesterday argued that this nation urgently needs land reform to address insecure property ownership and policies that are creating “land barons” while adding to housing pressures. Rupert Pinder, University of The Bahamas associate professor of economics, told the Exuma Business Outlook conference that The Bahamas’ approach to land
ownership is undermining investment opportunities and concentrating benefits among a select few, despite this nation having a relatively low population density. “The quieting of land, we create a lot of land barons,” he said, questioning how property can serve as a source of investment without adequate protection of ownership rights. “There are people going around clearing on people's land and just squatting on it,” Mr Pinder added, EXCEPTIONAL - See Page B6
the National Insurance Board (NIB), and ensure its longterm sustainability, by easing benefit payout pressure, and the minister conceded that elderly persons drawing both a pension and salary has contributed to the social security system’s stress. Mrs Glover-Rolle signalled that raising the minimum retirement age from 60 to 62 years-old, and increasing that for the private sector from 65 to 67, is the preferred option at present. And she revealed that the National Tripartite
DR DUANE SANDS
calling them as loans so they don’t have to take it as a hit on the books and so forth. They have used every single trick to come up with this so-called surplus. “They want the public to believe that for the first time in the history of the sovereign Bahamas the Government has a surplus, and it’s absolute rubbish. It is so laughable that they want to be seen as these wonderful stewards of the public purse despite the fact they have borrowed tens of millions of dollars, have all this off-balance-sheet expenditure, which is likely legal but probably not appropriate, all to come up with this $39m surplus,” he added. “It is an absolute fiction. It’s a figment of their imagination. Am I impressed? No, I’m, not in the slightest.” Dr Sands’ Free National
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‘Not on my watch’: Minister’s NIB rate increase rejection Glover-Rolle says contribution hikes are ‘last option’ Goes against actuaries amid sustainability concern Targets better real estate returns and diversification BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@ tribunemedia.net
Council, the body featuring employer, trade union and government representatives, which was formed to deal with labour-related issues, is again eyeing the minimum wage. She disclosed that it is exploring the creation of a new body, described as “a wage-setting Council”, specifically to deal with and recommend minimum wage increases in the future. Its establishment, Mrs Glover-Rolle, argued will help move The Bahamas away from “random and ad-hoc” minimum wage rises that take employers by surprise and leave them struggling to adjust.
A CABINET minister yesterday pledged to reject calls for higher employer and employee PIA GOVER-ROLLE contributions as the primary way to rescue the National Insurance Board (NIB), asserting: “Not on my watch.” Pia Glover-Rolle, minister of labour, public service and National Insurance, told the Exuma Business Outlook that she is going against the advice of actuaries, financial analysts who model the solvency of insurance schemes, and insisting that further contribution hikes are her “last option” and a final resort. She added that she has charged NIB’s new Board, headed by attorney Michelle Pindling-Sands, with exploring other methods for ensuring the social security scheme’s longterm solvency such as diversifying its $1.166bn investment portfolio both inside and outside The Bahamas, as well as maximising the returns from its extensive real estate holdings. Mrs Glover-Rolle, also revealing that increasing the retirement age is under active consideration as a means to boost NIB’s sustainability (see other article on Page 1B), added that she is determined to hold-off on “going back to the people and asking for an increase in contributions”. This directly contradicts, and goes against, the top recommendation in NIB’s last 11th actuarial report, which called for a 2 percent contribution rate increase to be implemented every two years between 2022 and 2036 to
LENGTHEN - See Page B6
SECURE - See Page B5
FISCAL - See Page B4
PAGE 2, Friday, October 16, 2026
THE TRIBUNE
AML Foods opens second Exuma store amid shipping, tax pressure BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net AML Foods opens its second Solomon’s store in Exuma today while warning that higher shipping costs and changes to the Government’s VAT regime continue to complicate efforts to deliver lower grocery prices. Renea Bastian, AML Foods’ vice-president of marketing and communications, said the BISX-listed food retail and franchise group, is working to contain costs through negotiations with suppliers and shipping companies, while seeking government assistance to address the structural expense of operating in the Family Islands. “The thing is, it’s just very, very expensive to operate in the Family Islands,” she said. “From where we sit, I want you to know that that is paramount in terms of being able to drive value for customers. So we’re negotiating with vendors,
we’re negotiating with the shipping companies, really trying to drive down the cost. The challenge is that we need some government assistance.” Ms Bastian said the new store located in Hooper’s Bay is a significant addition to its Exuma operations, offering a larger shopping space, an expanded product line-up and the return of a butcher shop. The opening comes as Bahamian food retailers contend with rising international freight and fuel costs, alongside the Government’s decision to eliminate VAT on grocery food from April 1, 2026. The tax change has also raised concerns about merchants’ ability to recover VAT paid on business expenses associated with exempt food sales. Ms Bastian said the cost of bringing goods into The Bahamas and distributing them to the Family Islands places significant pressure on retailers, particularly when compared with the
Jitneys hold-off on strike action BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net JITNEY drivers have agreed to hold-off on strike action while awaiting further talks with Leon Lundy, minister of transport, over their demands for higher adult fares and relief from soaring fuel costs. Keishla Adderley, the Prime Minister’s press secretary, said the Bahamas Unified Bus Drivers
Association and the United Public Transportation Company met with Mr Lundy yesterday to outline their concerns and agreed to submit their grievances in writing before another meeting is scheduled. The decision follows a warning by jitney drivers and owners that they could withdraw New Providence services unless the Government addresses rising diesel prices and approves an increase in adult fares from $1.50 to at least $2
expense of shipping directly to Nassau. “Just to break it down, if you’re shipping to Nassau from the US, and we all know that basically everything that we consume comes from the US, there’s a 30 percent charge just for shipping,” she said. “Then we have to pay that. Then we have to pay Customs duty. And now with the new government regulation on VAT, we can’t redeem any of the VAT back because we’re not collecting any of it. And then we have to get those items to the Family Islands, so that’s an additional cost.” “Now, if you’re shipping directly from the US to the Family Islands, the shipping is 50 percent right off the bat before you pay Customs or VAT. So that’s the challenge.” The concerns come as Tropical Shipping prepares to increase bunker surcharges on cargo moving between the US, Canada and The Bahamas from November 8, citing volatility in global fuel prices.
The increases include a $25 rise in the surcharge on 20-foot dry containers, from $225 to $250, and a $50 increase on 40-foot dry containers, from $450 to $500. Charges on refrigerated containers will also rise, increasing the cost of transporting temperature-sensitive goods. Higher freight charges can add to the landed cost of imported groceries and other consumer products, leaving merchants to decide whether to absorb the increases or pass them on to customers. Ms Bastian said AML Foods is attempting to mitigate pressures by leveraging its purchasing power across its operations, and consolidating shipments to spread transportation costs across larger volumes of merchandise. “But we understand, and we’re all about driving value,” she said. “So what we try to do is to basically leverage our buying power in terms of all of the different brands, trying to make sure that we fill
containers so that the cost can be spread. So we’re really trying to make sure that we can bring value.” The BISX-listed group is also exploring private label products as a way to offer shoppers cheaper alternatives to established national brands. “Something else that we’re looking into is private labels,” Ms Bastian said. “So, in a lot of instances, you have private labels that are just as popular and good as the national brands, but they’re a lot cheaper. So we are looking at opportunities.” She added that AML Foods assesses the costs of products before deciding whether to bring them into the market, adding that some items could become too expensive to sell at prices customers would consider reasonable. “Our merchandisers know at what cost they’ll be able to sell something for, and if it’s just cost prohibitive, we can’t bring it in,” she said.
“They have agreed to present their grievances and concerns in writing to the minister for a future meeting to be announced,” said Ms Adderley. “The date of the meeting is still to be determined. That was just yesterday. The minister is awaiting their report on their grievances in writing, and a date will be set for those talks at the soonest opportunity.” Ms Adderley said the cost of fuel was one of the major concerns raised by the operators, given its impact on their operating expenses and profitability. “Obviously, one of the big ones for them is the cost of fuel
and the effect that has on their bottom line,” she said. She added that the operators had agreed to hold-off on strike action until the meeting takes place. The Government is also considering whether it can provide relief to consumers facing high fuel prices, although no decisions have been announced. Ms Adderley said the Ministry of Finance had been meeting periodically to examine possible measures to ease the burden on consumers and businesses. “I can tell you that the Ministry of Finance has been meeting periodically to take a look at what can be done to see what type of reprieve can be offered to consumers,” she said. “There are no definitive announcements or
decisions on that yet, but that’s something that they’ve been looking at for a long time.” Ms Adderley said fuel prices were influenced by external factors beyond the Government’s control, with international developments continuing to affect costs worldwide. “Firstly, the cost of fuel has to do with external factors that are, of course, beyond our control. They’re being seen worldwide, and the barometer keeps moving as events take place worldwide and affect consumers worldwide,” she said. “Again, the Ministry of Finance is meeting to see where there may be some wiggle room or room for reprieve, and to be able
The retailer’s pricing challenge is unfolding against the backdrop of the Government’s latest cost of living measures, which eliminated VAT on food sold in grocery stores. However, the decision to make qualifying food items VAT-exempt, rather than zero-rated, means merchants can no longer recover all VAT paid on expenses associated with those sales. Super Value and former AML Foods chairman, Dionisio D’Aguilar, have previously warned that the change could increase retailers’ administrative burdens and operating costs, with the latter arguing that businesses could ultimately raise prices to offset VAT expenses they can no longer reclaim. For AML Foods, Ms Bastian said containing costs remains a priority as the company expands beyond New Providence and seeks to improve access to its product range in the Family Islands. “We’re talking about resilience,” she said. “For us at AML, it starts with strong processes and systems. It requires well-planned, disciplined processes across forecasting, ordering, distribution, inventory management and, of course, store operations.
SHOP - See Page B3 to offer some relief to consumers.” However, she stressed that any decisions on fuel-related relief would fall to the Ministry of Finance, rather than the Transport Ministry’s discussions with the operators. The bus operators have been pressing for further government intervention as rising diesel prices compound existing pressures from insurance, maintenance and other operating expenses. In their latest appeal, they argued that the current fare structure was no longer sufficient to sustain their businesses. The standard adult fare was increased by 25 cents to $1.50 in 2024, but operators say that adjustment has been overtaken by rising costs. They have also called for relief from VAT on fuel and other expenses. For now, the prospect of a shutdown has been deferred, but the next steps depend on the operators submitting their grievances in writing and a date being agreed for further talks with Mr Lundy.
THE TRIBUNE
Friday, October 16, 2026, PAGE 3
Fears air fares may price Bahamas out of market BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net AVIATION fees and rising travel costs could price Exuma out of the tourism market, industry executives warned yesterday, with one carrier estimating that new charges could push roundtrip fares to Staniel Cay to nearly $1,000 per passenger. Kerry Fountain, executive director of the Bahama Out Islands Promotion Board, told the Exuma Business Outlook conference that the cost of accessing the island has become a major concern, while Bahamasair and private aviation operators warned that additional charges could undermine demand, threaten regional airlift and force travellers to reconsider their vacation plans. The warnings came as officials outlined major airport redevelopment projects across Exuma and its surrounding cays, including a $35m investment at Exuma International Airport and upgrades at Black Point, Staniel Cay and Farmers Cay airports. Mr Fountain said the cost of travelling to the destination was undermining one of its traditional competitive advantages - its proximity to major North American markets. “Somebody told me they were trying to come here last week on American [Airlines]. It was $2,400 round trip out of Miami,” he said. Mr Fountain said The Bahamas risks pricing itself out of the market as taxes
and other charges are added to the cost of airline tickets, despite the country’s geographic proximity to the US. He cited comparisons between fares to nearby destinations such as Barbados, arguing that the additional costs imposed on air travel are making The Bahamas less competitive. “Proximity ain’t translating into affordability, and so that’s something that we got to be concerned about,” Mr Fountain said. “We are pricing ourselves out of the market.” He said the country recorded approximately 1.3m visitor arrivals between January and August 2026, an increase of about 5.6 per cent year-over-year, representing roughly 71,000 to 72,000 additional tourists. Of that increase, around 58,000 went to Nassau/Paradise Island. The Out Islands accounted for about 13,500 of the additional arrivals, with Exuma contributing roughly 11,000, or 81 per cent, of that growth, Mr Fountain said. He also pointed to planned international airline seat capacity for Georgetown between October and April 2027, which he said is expected to increase by about 23 per cent, providing an opportunity to build on the destination’s recent growth. However, Mr Fountain cautioned that the tourism industry cannot afford to overlook the cost of reaching the islands as it celebrated stronger demand and expanded airlift. Tracy Cooper, Bahamasair managing director,
said taxes and fees already account for a significant portion of ticket prices, limiting how much of the fare airlines actually retain to cover operating expenses. Mr Cooper said a ticket from New Providence to the Family Islands carries approximately $76 to $77 in taxes and fees, while the corresponding amount for Georgetown to Fort Lauderdale is about $96. For international routes from Nassau to destinations such as Miami, Fort Lauderdale and Orlando, the taxes embedded in a ticket amounted to approximately $171, he said. “When you see Bahamasair is charging you about $370, we’re only getting about $199, $200 out of that ourselves,” Mr Cooper said. He said the airline has to balance its operating costs against the need to keep fares affordable, particularly as passengers could choose competing destinations such as the Dominican Republic, Cancun and Las Vegas. Mr Cooper said Bahamasair will resume its Fort Lauderdale service on November 1, operating twice weekly on Mondays and Fridays. He added that the airline is facing substantial cost pressures, including a 91 per cent increase in its fuel bill in May compared with the same month last year, forcing it to introduce fuel surcharges rather than absorb the increases
BISX-listed food retailer exploring private labels SHOP - from page B2 “Our goal is to always make sure that the customer has the right product at the right time, in the right quantity and at the right place.” Ms Bastian said scalable operating systems
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entirely. Despite those pressures, Mr Cooper said the airline is fighting to keep fares between Exuma and Fort Lauderdale below $400 where possible. Sarah Swainson, business development director at Makers Air, warned that additional fees could have a disproportionate impact on smaller carriers serving the Family Islands. She said scheduled service to Staniel Cay is temporarily operating through Black Point while Staniel Cay Airport remained closed, and added that higher fares could prompt visitors to shorten their stays, travel less frequently or choose other destinations, reducing spending across the local economy. “We need a seat at the table,” Ms Swainson said, calling for greater consultation, clearer communication and sufficient notice of new charges so carriers could plan and explain the impact to passengers. She added that airlines understand that airport improvements require investment, but argued that the financial burden should not fall disproportionately on carriers and travellers. “We really desire predictability, and for I guess, everybody, that is a part of the conversation to understand the cumulative result of these additional fees,” Ms Swainson said.
have become increasingly important as AML Foods expands its presence in the Family Islands, including Harbour Island, Eleuthera and now Exuma. The new Hooper’s Bay location is larger than the company’s existing Georgetown store and is intended to provide a broader
Carlos Schuitz, executive director for airports at Bimini Airport Development Partners and Island Airport Development Partners, said airport operators are also discussing the impact of planned fee adjustments with the Government. He said the company has invested around $100m across its three airports, and had delayed planned terminal fee increases to better align them with the opening of new terminals next year. Mr Schultz said the company has begun discussions with the Government about possible adjustments to its management agreement that could provide relief to airlines, although no outcome had been reached. He added that airport operators need to ensure carriers remain successful while securing the funding required to maintain safe and reliable infrastructure. Chester Cooper, deputy prime minister, MP for Exuma and minister of education, said the Government remains committed to modernising the island’s aviation infrastructure. “The redevelopment of Exuma International Airport
remains a critical priority,” Mr Cooper said. He added that the project is progressing towards a mid-2027 completion, and will provide Exuma with a modern gateway to support its anticipated economic growth. Mr Cooper also highlighted ongoing improvements at Black Point, Farmers Cay and Staniel Cay airports, alongside significant works at the Black Point dock. Mr Fountain outlined the scale of the planned airport investments, including $17.9m for Black Point Airport, $3.4m for Staniel Cay Airport, $1.9m for airside improvements at Farmers Cay and $5.3m for a new passenger terminal there. The projects are intended to improve runway conditions, drainage, lighting and other facilities supporting regional air access. Mr Schuitz said a concessions request for proposals (RFP) had been launched for Bimini, with Exuma next in line. The Exuma opportunity is expected to include 14 spaces for retail, food and beverage, bar and restaurant businesses, with further details due to be released prospective partners in the coming weeks. He said Delta Air Lines had also increased service to Exuma, with daily flights planned during the summer, although its schedule beyond August and September had not yet been determined. Mr Fountain said the challenge for the tourism industry is to ensure that investment in infrastructure and growing visitor demand translated into sustainable economic benefits for Exuma and the wider Family Islands.
shopping experience for Exuma residents. Ms Bastian said the store will offer the company’s loyalty programme, allowing customers to earn rewards on purchases that could be redeemed later. She also confirmed that the butcher shop has returned to the store, responding to requests from residents. “It’s a much bigger store than the Georgetown location,” she said. “We
will have the loyalty programme. I think that would be the only one on the island. So every time you shop, you will earn rewards that you can redeem later. “But the assortment, we have the butcher shop that’s now back. I know a lot of Exumians were asking about that. So the butcher shop is back, and the full assortment, Solomon’s assortment, will be in the store.”
KERRY FOUNTAIN
PAGE 4, Friday, October 16, 2026
THE TRIBUNE
Fiscal outturn controversy ‘over shadows’ debt move FISCAL - from page B1 Movement (FNM) colleagues have already challenged the Government’s much-touted surplus on the basis that the fiscal figures do not include the near-$311m said to have been spent from accounts bearing the name of the National Investment Fund. They are arguing that the nature of the Fund’s spending, as disclosed by Michael Halkitis, minister of finance, on airports, roads, water systems and court complexes, is exactly the same as the capital expenditure normally included in the Budget figures. And, given that the Ministry of Finance had control of the accounts, the Opposition is asserting this spending should be consolidated into the numbers. Besides the controversy over whether the National Investment Fund spending should be included in the 2025-2026 figures, and not stripped out, which would turn the $39.3m surplus into
a near-$270m deficit based on the $311m disclosure, the Government also engaged in a series of “offsetting” transactions with its state-owned enterprises (SOEs) to produce the June numbers. “Movements in both revenue and expenditure included significant reciprocal offsets of receivables and payables between the Government and statutory bodies, together with sizeable dividend receipts,” the Ministry of Finance report for the month revealed. This signals that the Government netted off what its ministries, departments and agencies owed to the likes of Bahamas Power & Light (BPL) and the Water & Sewerage Corporation, against what was due from these utilities to it. And, after paying down arrears owed to these stateowned enterprises (SOEs), they likely reimbursed the Government via dividend payments. “Payments for the use of goods and services rose more than two-fold, by
Cooper reaffirms $1.5bn in Exuma investment pipeline VOYAGE - from page B1 stressing that he does not support mass cruise tourism on the island. “The announcement that Royal Caribbean group intends to invest $3bn for a 50 percent stake in Sandals and Beaches is an important development for the Caribbean tourism industry as a whole,” Mr Cooper said. “But for Exuma, it brings renewed hope for the transformation of the former Sandals Emerald Bay into Beaches Exuma. And I want to be clear that I still do not support mass cruise tourism for our island. Royal Caribbean in this case is an investor in Sandals.” He suggested that New Providence, which already has an established cruise tourism industry, could pursue a cruise-and-stay strategy, distinguishing the potential role of Royal Caribbean’s investment in
Nassau from the tourism model he wants for Exuma. “However, for New Providence, an established cruise destination already where Sandals exists, I foreshadow a cruise and stay strategy,” Mr Cooper said. Sandals Emerald Bay is Exuma’s largest tourism property and an important private sector employer. Mr Cooper said he remains engaged in efforts to re-open the resort, citing the impact of reduced airlift capacity and affordability on residents and visitors. “Though our overall products remain robust, our airlift quantity and affordability has been impacted, which has affected local residents and tourists alike,” Mr Cooper said. “I have remained engaged on this matter because I understand the importance of getting this property reopened.” He cautioned that work remains before the resort can be completed and
$193.3m, being associated with higher outlays for utilities and communications,” the Ministry of Finance’s report said, which likely refers to the effect of the “offsetting” payables and receivables transactions. “Non-tax revenue more than doubled, by $159.8m to $206.6m,” the June 2026 monthly report added. “This outcome included significant gains in dividend income from several public entities, a significant portion of which was used to settle the Government’s payment arrears.” Dr Sands, in response, asserted yesterday: “How you can declare a dividend when you are deep in the red is beyond” belief. He added: “You cannot meet your basic expenses, yet you are declaring a dividend. How does that work? I guess the Board of Directors felt it appropriate to declare a dividend. It’s a game; it’s nothing more than a game. “Unfortunately, there will be some people that believe this rubbish, but nobody
in the international rating agencies, nobody in finance, nobody who understands accounting will buy this nonsense.” The Ministry of Finance’s report for June 2026, which also includes the full-year figures, shows that the $39.3m annual figure was ultimately achieved by a more than five-fold increase in the Budget surplus for that month - from $25.4m in 2025 to $130.7m this time around. The increased June surplus was driven by major jumps in both revenues and spending. The Government’s total tax income more than doubled for the month, increasing by 116.7 percent or $307.2m year-over-year to hit $570.5m, while non-tax revenue more than quadrupled by $159.8m to hit $206.6m as opposed to just $46.8m in 2025. Revenues, though, grew at a faster rate than the Government’s fixed-cost, or recurrent, spending on civil service wages, rents and debt servicing, which also more
than doubled in June to increase by 103.8 percent or $279m to hit $547.6m. Capital expenditure also surged, expanding by $82.7m yearover-year to hit $98.7m for June 2026. The nine-figure, and double-digit, increases in both revenue and spending in June were not explained in-depth in the Ministry of Finance’s report. The revenue surge, it said, was driven by a combination of VAT more than doubling, growing by 119.6 percent to $248.3m on the back of enforcement to likely set a monthly record, plus $68.6m collected from the new 15 percent corporate tax. The final boost came from what the Ministry of Finance described as “significant gains in dividend income from several public entities” whose identities were not revealed. This produced a more than seven-fold jump in ‘other’ non-tax revenue from $23.3m in June 2025 to $172.8m. On the spending side, the Government’s outlay
on goods and services increased more than fourfold in June 2026, rising year-over-year from $61.8m to $255.1m due to increased spending on “utilities and communications”. However, Gowon Bowe, Fidelity Bank (Bahamas) chief executive, said the controversy over the Budget surplus and fiscal numbers should not be allowed to “over shadow” the more positive developments surrounding the Government’s debt. He added that short-term Central Bank advances to the Government have been paid down, while the Davis administration’s ability to finance its borrowings in the domestic Bahamian dollar market is reducing its exposure to foreign currency and US interest rate increases. However, Mr Bowe said the $68.6m in revenue earned from the Government’s new 15 percent corporate tax, or Domestic Minimum Top-Up tax, was almost 50 percent less than originally projected in the 2025-2026 Budget forecast.
reopened, but said the Royal Caribbean announcement offers renewed optimism for Exuma’s economic prospects. Mr Cooper also pointed to around $1.5bn in investments in Exuma’s pipeline, stating the projects are still expected to materialise and will hopefully benefit residents. Torch Cay is progressing, with a soft launch expected this year, he said, while a new announcement on a fully-funded Cave Cay development is expected shortly. However, Mr Cooper stressed that major investments must translate into meaningful opportunities for Exuma residnets, including employment, business development and improved living standards. “Even as we welcome major investments, we must ensure Exumians are fully prepared to take advantage of them,” Mr Cooper said. He added that his new ministerial portfolio will play a central role in preparing the island’s workforce to meet the demands of a
growing economy, particularly as tourism and other investment projects create opportunities for skilled workers. Mr Cooper said plans are advancing for two new classroom blocks and an administration building at LN Coakley High School, alongside upgrades to sports facilities at the Onion Bowl. He also pledged to expand technical and vocational education, improve digital literacy and strengthen training in fields including hospitality, engineering, plumbing, electrical work, marine technology and entrepreneurship. “And this is why, under my watch, we will continue to expand BTVI,” Mr Cooper said, referring to the Bahamas Technical and Vocational Institute. He also announced that Exuma will launch the Young Innovators Club within the next few weeks, extending an initiative already being rolled out in Grand Bahama, New Providence and Abaco. The programme is intended to encourage young people to develop practical solutions and entrepreneurial ideas across technology, business, the arts, maritime industries and environmental studies. Beyond tourism investment, Mr Cooper said Exuma’s long-term economic development will depend on continued improvements
to infrastructure, housing, healthcare and public services. He said the island’s main roadworks are around 80 percent complete, adding that a contract has been signed for selected side roads, including those in Bahamas Sound 11, 14 and 18. Additional improvements are under way at Black Point, Farmers Cay and Staniel Cay airports, while work continues on the Black Point Dock. The redevelopment of Exuma International Airport remains a priority, with completion expected by mid-2027, he said. Mr Cooper also highlighted progress on water infrastructure, including the installation of new mains and the extension of running water to his hometown of Forbes Hill. He urged residents to apply to the Water and Sewerage Corporation for household connections. He acknowledged continuing concerns over roads in Little Exuma, explaining that heavy equipment could not cross the existing ferry bridge and that a new asphalt plant will need to be established on the island to facilitate the work. Housing affordability and healthcare remains other pressing concerns, the deputy prime minister said, adding that he shared residents’ frustration over the slow progress of the hospital and will continue pressing
for the resources needed to advance it. Mr Cooper said the Government will also continue working on the Georgetown Master Plan, and the proposed development of a new town centre, to accommodate commercial activity, public services and transportation as the island’s economy expands. He urged businesses to invest beyond traditional industries while calling for development that protects Exuma’s environment, culture and communities. “Government has an obligation to create an enabling environment, but the private sector must continue to be an active partner in shaping our future,” Mr Cooper said. He added that Exuma’s development must ensure that residents benefit directly from new investment rather than being left behind by economic growth. “The best days of Exuma are ahead of us,” Mr Cooper said. “But those better days will not come simply because investors see opportunity in our islands, or because the Government announced new projects. They will come because we make deliberate choices, invest in our people, follow through on our commitments, and ensure that growth reaches every community.”
THE TRIBUNE
Friday, October 16, 2026, PAGE 5
NIB eyes policy reform as IT systems hit ‘end of life’ SECURE - from page B1 “restore the short and medium-term financial sustainability of the scheme”. The first Davis administration raised the overall contribution rate by 1.5 percentage points, split equally between employer and employee, from 9.8 percent to 11.3 percent on July 1,
2026. Yet there have been no further hikes since then even though NIB itself, in its latest 2022 annual report, warned its $1.1bn reserve fund is in “jeopardy of being depleted by the year 2028” without major reforms. That date is now just two years away. But Mrs Glover-Rolle, while reiterating that NIB’s “long-term sustainability” is one of her
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
key ministerial priorities, said the social security system must look at more creative and innovative means to plus the annual deficit between contribution income and benefits expenditure which, in 2025, was forecast to be $29m. “I have charged them with delivering measurable results during this term,” the minister said of the NIB Board. “Our agenda includes diversifying investments” plus “strategic development of our real estate portfolio, modernising, improving collections and greater accountability”. She explained: “We’re strengthening and diversifying the investment portfolio for greater returns for the Fund, and we are utilising NIB’s significant real estate holdings as long-term sources of revenue. This will further enhance our sustainability efforts. “So, basically, I have said to the Board, as opposed to going back to the people and asking for an increase in contributions, we will see how we can grow our Fund through investments, through diversifying our Fund, and ensuring we look other means of sustainability. “In regards to our real estate assets, how do we develop them and make them revenue-generating
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properties that they serve” the needs of NIB and its beneficiaries. “My last option is to go the people and ask them to give more,” Mrs Glover-Rolle said. “We have to be creative and understand that, as we look at NIB’s sustainability… and, yes, actuaries have repeatedly put as the number one method to increase contributions. I say: ‘Not on my watch’. We are looking at creative ways for the sustainability of the Fund…. “What are we doing in terms of investments in the NIB to diversify outside our country and see how we can grow our Fund, and how we are using our investments in terms of our current investments, like real estate, to ensure there is growth, to ensure there is sustainability, and to ensure we are making the Fund’s money work for the people.” Much of NIB’s real estate portfolio is leased/rented to other government ministries, departments and agencies. Dr Tami Francis, the social security system’s director, told the Bahamas Business Outlook in January that contribution rate increases are one tool in a broader package and will “not secure the National Insurance Fund’s future” by themselves. She revealed that NIB’s 1.5 percent rate increase on July 1, 2024, had increased contribution income by an average of $4m per month. This, Dr Francis added, had driven total contribution income to an estimated $413.6m in 2025, representing a $51.3m increase over the prior year. However, while this surge helped to reduce NIB’s
projected 2025 deficit by some $3m, she explained that relying solely on contribution rate increases will not be enough to eliminate the social security system’s “structural imbalances” caused by benefits payouts continuing to exceed income as the Bahamian population continues to age with fewer workers supporting elderly persons. Dr Francis added that COVID-19 unemployment and other benefits payouts had been a key factor in cutting NIB’s reserves by more than $600m over the six years to 2025 despite the 14 percent year-over-year income increase enjoyed in the latter period. Mrs Glover-Rolle, meanwhile, yesterday said NIB has “no choice” but to invest in technology upgrades and improvements given that its current IT systems have reached their “end of life”. Likening the situation to an old house, where appliances are going bad because they were all bought at the same time when the property was brand new, she added: “That’s where we are as a nation… “At NIB, the technology is at or near end of life, so we are making technology upgrades and digital enhancements that allow NIB to process claims faster, to collect contributions more efficiently and effectively, and give Bahamians a more modern experience when engaging with NIB.” Identifying improved customer service for employers, employees and beneficiaries as another of her key priorities, Mrs Glover-Rolle foreshadowed other policy changes
and initiatives. “We are also revising our policies so employers and workers who bring delinquent accounts up-to-date have a clear path to compliance,” she said. “We have received complaints that you bring your accounts compliant, but still cannot benefit from the contributions. Because contributors who regularise their accounts have to be able to access the benefits their contributions have earned. Some people take their last to bring their accounts current, and then they are told they don’t qualify. “We have made it a point to look at policies like that that aren’t serving our customers well, and we are going to listen and ensure we put those corrections in place from a policy perspective.” Mrs Glover-Rolle said NIB has just launched its ‘Have You Checked?’ initiative to encourage both employers and workers to make sure their contributions are in order before they need their benefits. “NIB has an obligation that extends across generations. We have to manage our resources responsibly for the future for those of us still in this room, and those of us coming behind us so we can access the benefits and services needed and expected from the NIB,” the minister added, promising that “other major changes” - which she did not identify - are coming, Mrs Glover-Rolle also urged employers to ensure that they register with NIB, file accurate reports and make contribution payments on time.
NOTICE
NOTICE
NOTICE
ECNR LTD.
International Business Companies Act (No. 46 of 2000)
International Business Companies Act (No. 46 of 2000)
KESHAVI OIL TRADING LIMITED Registration No. 211672 B In Voluntary Liquidation
METASPHERE ENERGY LIMITED Registration No. 208738 B In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), KESHAVI OIL TRADING LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), METASPHERE ENERGY LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of KESHAVI OIL TRADING LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of METASPHERE ENERGY LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
Therefore, any person having a Claim against KESHAVI OIL TRADING LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Therefore, any person having a Claim against METASPHERE ENERGY LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is a ro ed
Redcorn Consultants Limited Liquidator
Redcorn Consultants Limited Liquidator
NOTICE
NOTICE
NOTICE
International Business Companies Act (No. 46 of 2000)
International Business Companies Act (No. 46 of 2000)
International Business Companies Act (No. 46 of 2000)
COASTAL UTOPIA YACHTS LTD. Registration No. 210422 B In Voluntary Liquidation
DHP OIL AND GAS COMPANY LIMITED Registration No. 204705 B In Voluntary Liquidation
STERLING PETROCHEMICALS AND FERTILIZERS LTD Registration No. 202591 B In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), COASTAL UTOPIA YACHTS LTD. was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), DHP OIL AND GAS COMPANY LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), STERLING PETROCHEMICALS AND FERTILIZERS LTD was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of COASTAL UTOPIA YACHTS LTD., AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of DHP OIL AND GAS COMPANY LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of STERLING PETROCHEMICALS AND FERTILIZERS LTD, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
Therefore, any person having a Claim against COASTAL UTOPIA YACHTS LTD. is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Therefore, any person having a Claim against DHP OIL AND GAS COMPANY LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Therefore, any person having a Claim against STERLING PETROCHEMICALS AND FERTILIZERS LTD is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Redcorn Consultants Limited Liquidator
Redcorn Consultants Limited Liquidator
Redcorn Consultants Limited Liquidator
NOTICE
NOTICE International Business Companies Act (No. 46 of 2000)
NOTICE
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 205744 B (In Voluntary Liquidation) Notice is hereby given that the above-named Company is in dissolution, commencing on the 14th day of October A.D. 2026. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is ELZA ROSA CACAO, whose address is Av, Nelly Martins No. 1581, Torre B, Apto 1203, Vila Margarida, CEP: 79023135, Campo Grande, MS, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 13th day of November A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved. Dated this 14th day of October A.D. 2026. ELZA ROSA CACAO LIQUIDATOR
International Business Companies Act (No. 46 of 2000) STERLING PETROLEUM TRADING LIMITED Registration No. 201779 B In Voluntary Liquidation
NAIJA LIQUIFIED NATURAL GAS LIMITED Registration No. 205132 B In Voluntary Liquidation
International Business Companies Act (No. 46 of 2000) STERLING CAPITAL ALLIANCE LTD Registration No. 201778 B In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), STERLING PETROLEUM TRADING LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), NAIJA LIQUIFIED NATURAL GAS LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), STERLING CAPITAL ALLIANCE LTD was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of STERLING PETROLEUM TRADING LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of NAIJA LIQUIFIED NATURAL GAS LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of STERLING CAPITAL ALLIANCE LTD, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days.
Therefore, any person having a Claim against STERLING PETROLEUM TRADING LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the om any or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Therefore, any person having a Claim against NAIJA LIQUIFIED NATURAL GAS LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is a ro ed
Therefore, any person having a Claim against STERLING CAPITAL ALLIANCE LTD is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is a ro ed
Redcorn Consultants Limited Liquidator
Redcorn Consultants Limited Liquidator
Redcorn Consultants Limited Liquidator
PAGE 6, Friday, October 16, 2026
THE TRIBUNE
Gov’t seeks to avoid ‘random, ad-hoc’ minimum wage hikes LENGTHEN - from page B1 The minister, asserting that the Government wants decisions on labour-related issues to be “data driven” and based on empirical evidence, said a further increase in the existing $260 weekly minimum wage is likely to happen “before we get to the place of a livable wage”. She added that worker productivity will be one factor the proposed “wage-setting council” will assess in reaching its decisions, and said the newly-formed Productivity Council is presently in talks with the National Development Plan’s (NDP) steering committee in a bid to “marry” the two initiatives and their work. “Another important item on the National Tripartite Council’s agenda is also the extension of the national retirement age,” Mrs Glover-Rolle said yesterday. “That speaks to the sustainability of our National Insurance Fund. I want to assure you the necessary consultation and two-way communication that needs to take place along the way will happen. “Our aim is to make a decision that strikes a balance between the interests of the employer and the
employee, as well as our desire to maintain high employment numbers while ensuring employees receive suitable compensation.” Rupert Pinder, associate professor of economics at the University of The Bahamas (UoB), another Outlook presenter, asked how raising the retirement age threshold will impact NIB claims and benefits, plus eligibility, and also questioned the status of the Productivity Council in light of the Government’s plans to increase the minimum wage. Mrs Glover-Rolle, in reply, said the retirement age debate is not unique to The Bahamas and is an issue being discussed globally at every labour conference and International Labour Organisation (ILO) forum due to changing population demographics that have resulted in elderly persons continuing to work. “We are looking at raising both the minimum, which is at 60, and the regular retirement age,” the minister confirmed. “That is going to be for public consultation through the National Tripartite Council, which represents all our stakeholders - the Government, employers and employees. “They will have that dialogue to see what is the most
Bahamas must unlock land, not accept housing pressure EXCEPTIONAL - from page B1 arguing that existing policies had failed to resolve fundamental problems surrounding land ownership. He also questioned the reduction of the adverse-possession period from 20 years to 12 years, arguing that the change has not solved the underlying issues. “How does that solve the problem?” he asked.
Mr Pinder said the Government was the country’s largest land owner through its Crown Land resources, yet the existing arrangements are, in his view, empowering a select few at a time when many Bahamians faced land and housing pressures. He argued that secure property rights are essential to encouraging investment and enabling Bahamians
feasible. Many numbers have been thrown out. One that is sticking is 62 and 67. Sixty-two years old was the minimum, 67 is the higher, but we also understand our state-owned enterprises, the SOEs, have a retirement age of 60 which is also affecting the Fund in terms of National Insurance. “We look at older workers who want to return to work, who have retired and asked to come back to work. They are collecting their pensions along with a salary and that’s what’s also affecting the sustainability of the Fund,” Mrs Glover-Rolle added. “It will be for public discussion. I hope that we can swiftly get to a place where we can make a decision as a country. I will be driving that, but it’s something that has to happen sooner rather than later if we are going to circumvent the issue of having to raise ceilings.” Mrs Glover-Rolle did not identify what ceiling she was referring to, but it could be the insurable wage ceiling. As for the minimum wage, which was last increased by $50 or 23.8 percent, rising from $210 per week to $260 on January 1, 2023, Mrs Glover-Rolle told the Exuma Business Outlook: “In fact, as we speak, the National Tripartite
Council has begun a review of the national minimum wage with views towards a wage-setting Council to be established.. to recommend increases in the future.” Obie Ferguson, the Trades Union Congress (TUC) president, has repeatedly called for the minimum wage to be raised further to $350 per week, which would represent a $90 or 34.6 percent jump on the present figure, on the basis that $260 is simply not enough for a typical Bahamian family to exist on given the ever-increasing cost of living. However, any increase will increase hiring and the marginal costs of employing a worker on the minimum wage, thus raising business costs at a time when employers, too, are struggling with growing expenses, especially electricity and taxes, plus the related paperwork. Employers in industries such as hotels, gas stations and food stores that typically hire a large number of minimum wage staff will likely vehemently oppose any further rise. In response to Mr Pinder, Mrs Glover-Rolle said “the parameters” setting out the framework under which the Productivity Council will operate were completed by its predecessor Task Force in
February 2026. “The Council is now in meetings with the National Development Plan to see how we are going to marry the two,” she added. “We are, through the National Tripartite Council, looking at the wage-setting Council as opposed to just randomly and ad-hocly raising the minimum wage… but looking at a wage-setting council that will take into consideration productivity, that will take into consideration skills” and assess “where we need to go in terms of a livable wage as opposed to a minimum wage”. Mrs Glover-Rolle continued: “We want to use empirical information, we want to ensure it’s data driven, and we want to ensure all the stakeholders are a part of it. We want to encourage employees to understand that productivity is directly tied to compensation.” Acknowledging that some Bahamian workers feel they are “under-compensated for the work they do”, Mrs Glover-Rolle said the Productivity Council will soon lay-out how it plans to measure productivity in “strategic, innovative ways”. She added: “In terms of the minimum wage being raised, that is something where the conversation
is already being had, and we do anticipate another increase in the minimum wage in the near future even before we get to the place of a livable wage.” These proposed changes are taking place alongside what Mrs Glover-Rolle described as “a slate of labour reforms” that she hailed as “leading the way globally”. These include paternity, maternity and adoption-related upgrades, plus the introduction of workplace mental health standards and mental health leave and protections against workplace bullying, violence, harassment and abuse. Mrs Glover-Rolle said the changes will cover the Employment and Industrial Relations Acts, plus the Public Service Act and General Orders, to impact all private and public sector workplaces in The Bahamas. “We are now in the final stages of undertaking the most comprehensive labour reform process in our nation’s history,” she said. “Many of the laws that govern work in this country were written at a different time for what was a different country. The labour force has evolved and our policies and legislation must evolve with it.”
to use land as an economic asset. The economist also questioned why a country with such a low population density continued to experience significant pressure on land and housing, arguing that sensible policies were needed to address the problem. Comparing population density across the region, Mr Pinder noted that New Providence had approximately 105 people per square mile, while Barbados had more than 1,700 and Dominica approximately 226.
He said the comparisons highlighted the need to examine the policies governing land access and development rather than simply accept existing housing and land pressures as inevitable. Land reform is also linked to his broader argument that the Family Islands need to develop stronger economic bases of their own, creating more opportunities for local ownership, employment and investment. Mr Pinder said developing distinct economic centres across the Family
Islands can create opportunities for Bahamians to establish businesses and benefit more directly from tourism and related industries. For example, he said, a small resort could generate demand for a local bakery, laundry and other services, creating additional businesses and economic activity beyond the accommodation provider itself. He argued that such opportunities will help spread economic activity beyond the country’s principal centres and support
wider ownership of the economy. Mr Pinder’s call for land reform formed part of a wider presentation on what he described as “Bahamian exceptionalism”, in which he argued that the country should assess its performance against its economic potential rather than simply compare itself with other nations. He said land ownership, housing, infrastructure and economic diversification require greater attention if The Bahamas is to make better use of its resources and opportunities.
NOTICE International Business Companies Act (No. 46 of 2000) AMEYAA ENERGY OIL & GAS EXPLORATION LIMITED Registration No. 210116 B In Voluntary Liquidation Notice is hereby given that in accordance with Section 138 of the International Business Companies Act, (No. 46 of 2000), AMEYAA ENERGY OIL & GAS EXPLORATION LIMITED was put into voluntary liquidation pursuant to a resolution passed by the Members of the Company and the date of Commencement of dissolution was September 2, 2026. We, Redcorn Consultants Limited of 202 Marina Lane, Sandyport, West Bay Street, Nassau, Bahamas, are the appointed Liquidators of AMEYAA ENERGY OIL & GAS EXPLORATION LIMITED, AND it is estimated that the winding-up and dissolution of the Company will require approximately thirty (30) days. Therefore, any person having a Claim against AMEYAA ENERGY OIL & GAS EXPLORATION LIMITED is required on or before October 2, 2026 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved.
Redcorn Consultants Limited Liquidator
THE TRIBUNE
Friday, October 16, 2026, PAGE 7
Arrow-words are like crosswords, but the clues inside squares on the grid. Write your an blank squares in the direction indicated by Solutio
WORDSEARCH JUDGE PARKER
CARPE DIEM
MARVIN BLONDIE
D N W O V A N C O U V E R N T I N T I U L A Q I O E A R K T J C A C J Q D F J L J L A Q U E B E A O X A D L A R N C T Z R P Y W G N U E I O Q W B T I A I C U A R O F A A F R P Z N C O C T N Q L Y R E G I N A F I N T Y N J W B T X I T W R O I U J U O R H O P E E R Z W K Y R R B C B E Q N V A F O X A M L L D G L J S P U N V A W A T T O C W K A I T O C S A V O
PLACES IN
Find all the terms listed below in the Solution tomorrow ALBERTA ● CALGARY ● HALIFAX ● LABRADOR ● MANITOBA ● MONT NEWFOUNDLAND ● NOVA SCOTIA ● O OTTAWA ● QUEBEC ● REGINA SASKATCHEWAN ● TORONTO ● VANC WINNIPEG ● YUKON
HAGAR THE HORRIBLE
TIGER
YESTERDAY’ QUICK CROSSWORD Across: 7 Trade, 8 Various, 9 Partner, 10 Trend, 12 Obsequious, 15 Open-handed, 18 Storm, 19 Crumple, 21 Elegant, 22 Excel. Down: 1 Stupendous, 2 Marry, 3 Mean, 4 Averse, 5 Protrude, 6 Boredom, 11 Deservedly, 13 Bohemian, 14 Recover, 16 Nicety, 17 Spice, 20 User.
CALVIN & HOBBES
DENNIS THE MENACE
WORDSEARCH
N A W V F M E T A T A R Z N Y E B S U R E M U H W J M E I D T G R C L C P U A I V I P R Q F N A R M A D C G A K A X A O H A S L U D R J V P W L Q X D U L J I C G R E M E I S G I E E S H K F Z I L J A Y D T M K O R C H L C A C O A A Q J O R I A U I H R L R P C N B A E K D V G U A C M T Z V S E V R A M M S C A P M A N D I B L E M S L I W A S U E N A C L A C S
TARGET
THE ALPHAPUZZ
FUMIGATOR fair farm faro fiar fiat firm foam form format fort forum four frit frog from fruit fugato FUMIGATOR gift graft motif mufti raft rift tofu tufa turf
Across: Burial, Odious, An Sage, Below, Cycle, Acorn, Dowry, Climb, Lurch, Spat, Bay, Jaguar, Payoff. Down: Cod, Quirky, Orphan Thug, Beryl, Plate (clue), Um Lager, Motto, Crypt, Watch Oryx, Vulgar, Modify, Nub.
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