AGP Executive Report

Tourism: The Bahamas’ new honorary consul to Uganda wants to build tourism ties, citing the country’s 12 million visitors and US$5.27 billion in tourism receipts in 2025. Economist Therese Turner-Jones also urged the country to give cruise passengers more authentic Bahamian experiences to boost spending. Business Finance: The Central Bank has launched a nationwide survey on how businesses access financial services and make payments, to guide future policy. Business Continuity: The Chamber of Commerce is seeking buyers and investors for established Bahamian businesses facing succession challenges, aiming to preserve jobs and local expertise. Food Security: Golden Yolk reports producing 200,000 eggs, with 10,000 laying hens and 8,000 pullets, as the government pushes to cut imports. Energy Costs: An opposition senator says continuing power outages are costing businesses revenue and workers income, and is demanding senior-sector resignations. Economic Outlook: Fidelity Bank CEO Gowon Bowe called the fiscal position manageable but said unresolved National Investment Fund accounting questions could weaken confidence in government reporting. Innovation: The Young Innovators Club is expanding opportunities for 15- to 25-year-olds to develop entrepreneurial and technology-based solutions.

Tourism Ties: The Bahamas’ new honorary consul to Uganda wants to build tourism links between the countries, pointing to the Bahamas’ 12 million visitors and US$5.27 billion in tourism receipts in 2025 as a model. Cruise Growth: Disney’s new Believe ship will begin four- and five-night Bahamas and Caribbean cruises from Fort Lauderdale in December 2027. Norwegian has opened its six-acre Great Tides Waterpark, with 19 slides, at Great Stirrup Cay. Shipping Compliance: New U.S. sanctions target 22 vessels linked to Iranian oil trade; some designated ships were registered in the Bahamas, putting a spotlight on flag-state oversight. Local Production: Golden Yolk says it has produced 200,000 eggs as the government seeks to cut imports and boost local supply. Business and Finance: Doctors Hospital reported an $11.5 million profit, reversing last year’s loss. Meanwhile, Fitch’s outlook has raised concern that the government’s projected surplus may be slipping out of reach. Grand Bahama: Port Lucaya businesses remain under pressure, with calls for sustained economic revival beyond announcements.

Tourism: Norwegian Cruise Line has opened its nearly six-acre Great Tides waterpark at Great Stirrup Cay, with 19 waterslides and family attractions. Disney’s new Believe ship is also set to sail four- and five-night Bahamas and Caribbean itineraries from Fort Lauderdale starting in December 2027. Financial Compliance: The Securities Commission ordered regulated firms to screen all customers against the restored UN Iran sanctions list and confirm compliance within five business days; any linked assets must be frozen. Utilities & Telecoms: BPL outages disrupted communities across New Providence, while the communications union urged new BTC CEO Gravette Brown to prioritize network repairs and customer service. Local Economy: Golden Yolk’s production of 200,000 eggs supports the government’s push to reduce imports. Doctors Hospital reported an $11.5 million profit, reversing the prior fiscal year’s losses. Consumer Protection: The CPC recovered $101,806 for consumers in the first nine months of 2026, with its recovery rate reaching 90.5%.

Cruise Tourism: Disney’s new 4,000-passenger Believe will begin four- and five-night sailings from Florida to The Bahamas and the Caribbean in December 2027, including stops at Castaway Cay and Lookout Cay. Healthcare Business: Doctors Hospital reported an $11.5 million profit for fiscal 2026, reversing a prior-year loss, as it grows its corporate health programme and shifts clients to multi-year contracts. Telecommunications: Former Aliv executive Gravette Brown has taken over as BTC’s CEO, bringing experience in commercial growth and innovation. Climate Finance: Economist Therese Turner-Jones urged the government to consider an IMF facility offering concessional financing for climate resilience, as The Bahamas faces roughly $12 billion in national debt. Tourism Competitiveness: Turner-Jones says The Bahamas needs better data on how it compares with rival destinations; the country missed a global tourism ranking after too few businesses completed the survey. Local Production: The Golden Yolk project has produced 200,000 eggs as the government pushes to reduce imports. Airport Repairs: Emergency runway work at North Eleuthera is expected to take 12 days after Western Air suspended flights over safety concerns.

Global Trade: The Bahamas secured another three-year term on the International Organization for Standardization Council, giving the country a voice in standards that shape trade and competitiveness. Business: Doctors Hospital reported an $11.5 million profit for the year ended January 2026, reversing a loss a year earlier; results included a $7.4 million gain tied to a government finance lease. The hospital also plans to secure more corporate clients through multi-year contracts as membership-plan revenues rise. Telecommunications: Former Aliv executive Gravette Brown has been appointed BTC’s CEO, succeeding Sameer Bhatti. Climate Finance: Economist Therese Turner-Jones urged the government to consider an IMF facility offering concessional financing for climate resilience, as the country faces about $12 billion in national debt. Food Security: Golden Yolk has produced 200,000 eggs, with 10,000 laying hens in production and 8,000 pullets being raised as the government seeks to cut imports and expand local farming. Tourism: Turner-Jones warned that The Bahamas cannot track its competitiveness against rival destinations while it remains absent from the World Economic Forum’s tourism ranking; too few local businesses completed the survey. Jobs: First-quarter data showed underemployment rose 11% to 29,085 people, even as unemployment declined. Connectivity: Emergency repairs are underway at North Eleuthera’s runway after Western Air suspended flights, with the work expected to take about 12 days.

Food Security Push: Prime Minister Philip Davis visited the Golden Yolk Project as government reports 200,000 eggs produced, 10,000 laying hens in production and about 8,000 pullets raised to expand local supply and cut egg imports. Lab Market Update: The Bahamas National Statistical Institute’s first-quarter labour force survey shows unemployment trending down while underemployment rises to 29,085 people, up 11% from Q4 2025. Tourism Youth Pipeline: Junior Tourism Minister Raia Cargill will represent The Bahamas at Guyana’s Regional Tourism Youth Congress as part of SOTIC 2026. Cruise Sector Watch: CruiseHuddle’s audit flags that “solo” cabin categories don’t always deliver the lowest displayed price, urging travellers to compare guarantee vs standard options. Local Business Pressure (Grand Bahama): Port Lucaya Marketplace businesses face renewed strain after Agave Restaurant’s temporary closure, with the chamber warning foot traffic remains weak beyond cruise arrivals. Energy & School Safety: Three students at C.C. Sweeting were injured by an electrical fault linked to the school’s internal system and service connection; BPL and BGC moved to restore and upgrade supply. Governance & Standards: PM Davis congratulates The Bahamas on securing another three-year term on the ISO Council, keeping the country “at the table” on global standards. Climate Risk Outlook: CariCOF warns a very strong El Niño could bring impactful drought and humid heat, with flooding risks still possible in parts of the region.

Food Security Push: Prime Minister Philip Davis visited the Golden Yolk Project as the government targets reduced egg imports, citing 200,000 eggs produced, 10,000 laying hens in production and 8,000 pullets being raised to build steady local supply. Youth & Tourism: Junior Tourism Minister Raia Cargill will represent The Bahamas at the Caribbean Tourism Organization’s Regional Tourism Youth Congress in Guyana, highlighting youth leadership in tourism, culture and entrepreneurship. Education Partnership: Deputy Prime Minister Chester Cooper told parents at a virtual meeting that stronger home-school alignment is key to improving literacy, numeracy, attendance, safety and student well-being. Banking & Compliance Watch: Gowon Bowe warned the Bahamas must show it can detect, report and act on illicit financial activity ahead of the CFATF assessment, noting banking relationships could face tighter scrutiny. Disaster-Resilience Tech: The Bahamas submitted an expression of interest to join a UN AI programme for disaster preparedness and recovery, seeking local training and control over data-sharing. Local Economy & Jobs: A report on labour market trends points to falling unemployment to 8.1% in Q1 2026, but cautions that tourism-driven hiring and election-era factors may affect how durable gains are. Infrastructure & Safety: Three students were injured after a faulty electrical wire at C.C. Sweeting Senior High School caused minor burns; power was restored where safe while crews investigated and upgraded the service connection. Community & Health: RF Bank & Trust backed BREEF’s marine education with underwater communication equipment, while Sister Sister Breast Cancer Support Group continued expanding resources between diagnosis, treatment and survivorship. Grand Bahama Innovation: Acting PM Chester Cooper launched the Young Innovators Club, with an $50,000 prize purse to spur problem-solving and research among youth. Cruise Sector Signal: Cruise stocks moved in tandem, with Norwegian up about 5% alongside Royal Caribbean and Carnival, reflecting sector-wide demand rather than a single company catalyst.

North Eleuthera Airport Runway Repairs: The Ministry of Works says emergency works at North Eleuthera International will include milling and resurfacing, targeted repairs and renewed markings, after Western Air suspended flights due to deteriorating runway conditions—while stressing the IDB-financed project is separate. BTC Leadership Change: Bahamas Telecommunications Company CEO Sameer Bhatti is stepping down; Board Chair Inge Smidts will lead operations while directors search for a successor. Grand Bahama Jobs and Severance: Foreign Affairs Minister Fred Mitchell says the PM will visit before month-end to convene stakeholders on Freeport plans, while severance disputes tied to former Grand Lucayan employees continue. Fitch Fiscal Warning: Opposition finance spokesman Kwasi Thompson says Fitch’s forecast of a 0.5% deficit confirms concerns that the government’s surplus target is slipping. FAEX/Banco Master Case: A Bahamas-licensed investment fund, FAEX, faces winding-up proceedings over alleged $1.6bn asset diversion claims linked to Banco Master’s collapse. Food Security Push: BAMSI expands backyard gardening training to help households grow more food, responding to heavy reliance on imported food. Youth Innovation Funding: Grand Bahama’s Young Innovators Club launches with an $50,000 prize purse to spur problem-solving and research by youth. Education Safety Incident: C.C. Sweeting Senior High reports three students with minor burns after a faulty electrical wire issue, with early dismissal and grid crews on site. Marine Education Support: RF Bank & Trust backs BREEF with underwater communication equipment to boost interactive snorkeling and marine learning.

North Eleuthera Airport Repairs: The Ministry of Works says emergency runway works at North Eleuthera will include milling and resurfacing, targeted repairs and renewed markings after Western Air suspended flights over deteriorating conditions; officials stress this is separate from an IDB-financed full rehabilitation project. Fiscal Watch: Opposition finance spokesman Kwasi Thompson says a Fitch deficit forecast confirms the PLP’s concerns that the government’s budgeted surplus is slipping, citing revenue shortfalls and spending revisions. Financial Sector Shock: A Bahamas-licensed investment fund, FAEX Fund Ltd., faces winding-up proceedings in Supreme Court after allegations it was used to divert about $1.6bn from Banco Master; the matter is set for hearing Oct. 8. Banking/Corporate Leadership: Bahamas Telecommunications Company CEO Sameer Bhatti steps down, with board chair Inge Smidts set to lead operations while a successor search begins. Innovation Push: Acting PM Chester Cooper backs the Young Innovators Club on Grand Bahama with an $50,000 prize purse, challenging students to identify problems, research solutions and pitch them. Marine Education Support: RF Bank & Trust funds BREEF’s underwater communication equipment to make snorkeling and marine learning more interactive and safer. Tourism & Business Networking: The Bahamas Chamber of Commerce hosts a “Power of Connections” brunch aboard Allure of the Seas with tourism leaders and entrepreneurs. Aviation/Travel Links: Southwest announces new summer 2027 routes including nonstop Austin–Nassau, plus other Caribbean and Central America additions.

Grand Bahama Labour & Payments: Foreign Affairs Minister Fred Mitchell says PM Philip Davis will visit Freeport before month-end to convene stakeholders on plans for the city, while the severance dispute with former Grand Lucayan employees continues amid record-keeping disagreements. Maritime Regulation: The Bahamas Maritime Authority is pushing “from policy to practice” on new Merchant Shipping Regulations, stressing early industry engagement as decarbonisation, digitalisation and seafarer requirements reshape compliance. Tourism & Business Networking: The Bahamas Chamber of Commerce held a “power brunch” aboard Royal Caribbean’s Allure of the Seas focused on connections and tourism growth. Local Film Push: Producers of “This Is My Home” say budget and production delays are slowing progress, but the project aims to spotlight children’s home challenges through Bahamian-led storytelling. Royal Visit & Reparations: Buckingham Palace says King Charles will address Britain’s slavery legacy during the Caribbean tour but will not issue a formal apology or financial reparations, pointing to government policy. Environment & Community: Keep Grand Bahama Clean marks 20 years, tackling illegal dumping that threatens well fields and urging proper disposal. Aviation Connectivity: Southwest Airlines announces new nonstop routes from Austin to Nassau, Punta Cana and Liberia starting June 2027, boosting travel options for the Bahamas.

Cruise & Tourism: Carnival’s new Excel-class ship, Carnival Festivale, has floated at Meyer Werft and is set for delivery in 2027, with maiden season from Port Canaveral in May 2027 and weeklong Caribbean cruises including visits to Celebration Key in Grand Bahama; Carnival is also continuing its image push with fleetwide coastal cleanups that removed more than 5,000 pounds of trash across the Bahamas and other destinations. Air Connectivity: Southwest Airlines will add nonstop service from Austin to Nassau starting June 5, 2027 (plus Punta Cana and Liberia), boosting travel options for business and leisure. Royal & Commonwealth Watch: Buckingham Palace says King Charles will address Britain’s “darkest days of our past” on slavery during a Caribbean tour that includes The Bahamas, but will not issue a formal apology or reparations. Local Business & Finance: Fitch has rejected the Davis administration’s surplus projections, estimating a 2025/26 deficit instead, prompting calls from the Bahamas Chamber of Commerce for cost control and better income tracking without new taxes. Community & Environment: Keep Grand Bahama Clean marks 20 years, highlighting ongoing fights against illegal dumping, including in well fields.

Cruise Tourism Boost: Star of the Seas brought about 7,069 passengers to St. Kitts on Thursday, with visitors spending ashore on tours, shopping and local attractions—another reminder of how ship arrivals keep island businesses busy. Royal Commonwealth & Trade Links: King Charles and Queen Camilla will tour the Bahamas, Guyana and Antigua and Barbuda from Oct. 27 to Nov. 4, with the programme aimed at youth, conservation and economic partnerships—while also keeping the focus on Britain’s “darkest days of our past.” Reparations Standoff: Buckingham Palace says the King will not issue a formal apology or offer financial reparations for slavery, pointing to the UK government’s position. Tourism Finance Watch: Fitch rejected the Davis administration’s surplus projection, estimating a 2025/26 deficit of 0.5% of GDP; the Bahamas Chamber of Commerce urges cost control and better income tracking without new taxes. Local Business Spotlight: Trevor Williams of Grand Bahama’s Out Island Water says entrepreneurship after Covid requires staying close to the market and fixing day-to-day operational issues. Air Connectivity: Southwest unveiled new summer 2027 routes from Austin, including Nassau, boosting travel options for the Bahamas. Environmental Push: Keep Grand Bahama Clean marks 20 years, tackling illegal dumping that threatens well fields and natural resources. Hospitality & Events: EV Motors Open returns at Baha Mar with free admission, an automotive showcase and prizes for teams in mixed doubles tennis.

Royal Tour & Reparations: Buckingham Palace says King Charles will “not shy away” from Britain’s “darkest days of our past” on a Caribbean trip that includes the Bahamas, Guyana and Antigua & Barbuda, but he will not issue a formal slavery apology or offer financial reparations—both remain with the UK government’s position. Tourism & Travel: Southwest Airlines announced new summer 2027 routes from Austin, including nonstop service to Nassau (Bahamas) starting June 5, alongside Costa Rica and the Dominican Republic. Cruise & Entertainment: Holland America will host a professional pickleball invitational at RelaxAway, Half Moon Cay on a March 7, 2027 sailing. Local Business & Community: EV Motors Open returns to Baha Mar (Oct 2–4) with mixed doubles tennis, an auto showcase and prizes, while CIBC Caribbean’s Walk for the Cure runs every Saturday in October across multiple islands. Public Finance Watch: Fitch rejected the Davis administration’s surplus projection, estimating a 2025/26 deficit, prompting calls from the Bahamas Chamber of Commerce for cost control and better income tracking without new taxes.

Royal & Reparations: Buckingham Palace says King Charles will “not shy away” from Britain’s slavery and colonial legacy during his Caribbean tour, including a Bahamas stop, but he will not offer a formal apology or financial reparations—actions remain with the UK government ahead of CHOGM in Antigua and Barbuda. Banking & Growth: RF Bank & Trust’s sit-down highlights expectations for economic growth, investment and the financial services sector. Public Finance: Fitch rejects the Davis administration’s surplus projection, estimating a 0.5% GDP deficit; the Bahamas Chamber of Commerce urges cost control, better income tracking, and fair tax reform. Tourism & Events: Royal Caribbean adds “The SpongeBob Musical” to the Hero of the Seas, with every sailing visiting Perfect Day CocoCay in The Bahamas; EV Motors Open returns at Baha Mar with free admission. Community & Social Services: CIBC Caribbean’s Walk for the Cure runs Saturdays in October; Social Services highlights disability-focused financial education; Straw Market vendors unite after a two-day closure.

Royal Tour & Reparations: Buckingham Palace says King Charles will acknowledge the “darkest days” of colonial rule and slavery during a Caribbean trip that includes a Bahamas stop, but it reiterates there will be no formal apology or reparations—those remain a government matter—amid rising calls ahead of CHOGM. Tourism Economy Watch: Fitch warns The Bahamas’ tourism gains are being blunted by heavy reliance on cruise arrivals, which limits broader economic and fiscal payoff. North Eleuthera Airport Disruption: The Ministry of Works says the North Eleuthera runway needs a complete resurfacing, after Western Air suspended flights over deteriorating conditions. Public Healthcare Governance: The Public Hospitals Authority announces its 2026–2027 board appointments as major health infrastructure projects move forward. Social Services & Inclusion: The Ministry highlights its role as a “safety net” and marks Older Persons Month, while a disability-focused financial education session pushes accessible banking. Community & Business: Straw Market vendors unite for an empowerment event, and CIBC Caribbean’s Walk for the Cure returns every Saturday in October across multiple islands.

Tourism & Airlift: The Bahamas is pushing a more international travel calendar with new and expanded routes, including Aeroméxico’s planned Mexico City–Nassau nonstop from March 19, 2027, plus Breeze Airways’ six new nonstop launches in early October. Tourism Economy Debate: Economist Therese Turner-Jones says rising visitor numbers aren’t translating into better conditions or wider business opportunities for Bahamians, questioning how much tourism value stays local. Credit & Fiscal Watch: S&P kept The Bahamas at BB- with a stable outlook, but local economist Therese Turner-Jones called the assessment “extremely weak,” while the Fiscal Responsibility Council’s oversight continues to shape PPP and debt scrutiny. UN Climate Message: PM Philip Davis told the UN there’s “no uncertainty” in the climate crisis, warning sea-level rise threatens statehood. Local Business & Community: Commonwealth Brewery marks its 40th anniversary with an “Ultimate Bahamian Brewing Festival” on Oct. 3, while Colina Insurance backs the Bahamas Alzheimer’s Association’s fun run/memory walk. Governance & Labour: A court ordered the Bahamas Nurses Union to hold elections by Nov. 13 after finding parts of its internal governance unlawful. Public Safety: A man was killed and another injured in a John Road shooting in Nassau.