AGP Executive Report

Cruise Safety & Tourism: Royal Caribbean guests sparked a brawl at Paradise Island’s Royal Beach Club, with at least 13 passengers involved and debate growing over whether cruise lines need tougher, smarter bans. Legal Fallout for Excursions: A woman injured during a Nassau excursion is suing Carnival and related operators, alleging alcohol-fuelled coercion and a drug-facilitated sexual assault during a “Pearl Island Beach Escape.” Energy & Cost of Living: Bahamas Petroleum Retailers Association VP Vasco Bastian says gas prices could move either way as global oil and Middle East risks drive uncertainty, while noting a government-approved margin increase has helped buffer retailers. Broadcast Disruption: A fire damaged ZNS’ South NP transmitting station, taking 1540 AM off air and potentially delaying repairs for months—an issue that hits hard during hurricane season. Grand Bahama Governance: Central GB MP Frazette Gibson used budget debate to press on healthcare conditions at Rand Memorial and ongoing questions around power outages and the Grand Bahama Power Company acquisition. Airlift & Growth: Breeze Airways launched nonstop Tampa–Nassau service, adding another route to expand visitor access, while Nassau Airport Development Company says an airport hotel developer is near selection and terminal expansion plans continue. Housing Pipeline: Housing Minister Keith Bell says the government is targeting more than 900 future lots and homes across multiple islands, including private-public partnerships. US-Bahamas Relations & Allegations: US Ambassador Herschel Walker says concerns about pre-clearance and investment are on his radar, while the wider controversy over US drug-trafficking allegations involving a Bahamian politician continues to roil Parliament and diplomacy.

Aviation & Tourism Growth: Breeze Airways launched nonstop Tampa–Nassau service, with twice-weekly flights starting this week and set to expand to four weekly flights in July, adding fresh airlift for Bahamian tourism and business travel. Airport Development: Nassau’s Lynden Pindling International Airport is close to selecting a private developer for an on-airport hotel, while also pushing terminal and airside expansion to ease congestion. Tourism Performance: The Central Bank reports foreign arrivals rose 17.5% to 3.8 million in Q1, led by stronger sea traffic and a higher-value air segment. Energy & Cost of Living: Parliament continues to wrestle with chronic power issues as outages persist; meanwhile, Grand Bahama electricity relief is being touted as bills fall for thousands of households. Housing Pipeline: The government says it plans to build 900+ homes and lots across multiple islands, supported by Bahamas Mortgage Corporation financing and rent-to-own initiatives. Finance & Credit: Domestic mortgage disbursements for new construction and repairs fell 23.4% in Q1, with commercial lending down sharply, while residential disbursements rose. Trade & Tariffs: The fisheries sector warns a 15% US tariff on crawfish could pressure US demand, though it expects limited impact on Bahamas competitiveness in other markets. Energy Retail Buffer: Petroleum retailers say an approved margin increase is helping absorb higher oil prices. Governance & Transparency: A fresh House fight over a US criminal complaint tied to Jonathan Eric Gardiner is reigniting calls for police action and parliamentary handling of the allegations. Health Infrastructure: Construction is set to begin soon on a new $285m specialty hospital in western New Providence, funded via China EXIM Bank financing. Sports & Culture: Sports tourism gets a budget boost under “Sports in Paradise,” while the Dundas Centre names Erin Knowles as artistic director to professionalize local theatre.

Airlift Boost: Breeze Airways launched the first nonstop Tampa–Nassau flight in over 20 years, with officials saying the new route should lift stopover visits and tourism growth. Energy & Power Reliability: Energy Minister JoBeth Coleby-Davis told Parliament outages are “growing pains” tied to grid upgrades, while MPs and residents pressed BGC and BPL to fix recurring problems in western New Providence. Budget & Governance: Finance Minister Michael Halkitis defended ongoing procurement reforms, citing capacity-building and certification for procurement staff amid public scrutiny. IMF Warning on Disaster Planning: An IMF assessment says The Bahamas lacks a standardized framework to measure hurricane impacts in macroeconomic and debt forecasting. Agriculture & Food Security: Jomo Campbell said the Golden Yolk project is building poultry productive capacity, as critics continue to question cost overruns and transparency. Regional Finance & Courts: CCJ judge Denys Barrow highlighted how strong judicial systems support Caribbean development at a CDB lecture. Cruise & Ports: St. Vincent signed an MoU with Global Ports Holding for a 30-year Kingstown Cruise Port concession and major investment. Banking Supervision: CBCS hosted the XLIII annual Caribbean Group of Banking Supervisors conference, focusing on resilience and innovation amid AI and data risks. Tourism Product: Aggressor Adventures released a new Bahamas Aggressor II diving video for Exuma Cays and Tiger Beach, alongside limited-time charter savings. Sports Spotlight: Bahamian javelin thrower Keyshawn Strachan won NCAA silver, while Kaiden Cartwright also competed.

Energy & Utilities: Energy Minister JoBeth Coleby-Davis defended the Davis administration’s energy reforms in Parliament, saying New Providence outages are “growing pains” tied to infrastructure upgrades, while also citing a fuel hedge that has delivered $21.7m in savings since February 2026. Power Reliability: Killarney MP Michela Barnett-Ellis urged BGC and BPL to resolve recurring western New Providence blackouts, warning of added costs to households and businesses. Budget & Governance: Finance Minister Michael Halkitis pushed back on procurement criticism, saying reforms are ongoing and pointing to training and certification for public servants. Macroeconomics & Risk: An IMF assessment says The Bahamas lacks a standardized framework to measure how disasters affect growth, debt and fiscal planning, limiting disaster scenario use in forecasting. Agriculture & Industry: Jomo Campbell said the Golden Yolk project is building productive poultry capacity, citing completed poultry houses, an egg processing facility and 10,000 chickens—amid ongoing public criticism over overruns and delays. Public Accounts Committee: Opposition Leader Michael Pintard says the new Public Accounts Committee will “follow the people’s money” and review Auditor General reports. Cruise & Tourism Investment: St. Vincent and the Grenadines signed an MoU with Global Ports Holding for a 30-year concession and up to EC$250m to modernise Kingstown Cruise Port. Digital Payments & Banking: CIBC Caribbean announced Google Wallet support for its cards in The Bahamas and other markets. Gaming & Crypto: WSOP named Solana Foundation as presenting sponsor and will enable Solana-based, zero-fee buy-ins, with payouts in stablecoins planned for WSOP Paradise in The Bahamas this December. Business & Finance (Regional): CDB and IDB Invest launched a US$25m trade finance facility to boost access to trade credit across Caribbean markets. Legal (International): India’s Bombay High Court granted Anil Ambani interim protection in a Black Money Act tax evasion case.

Public Procurement Scrutiny: Finance Minister Michael Halkitis told the House that procurement rules “evolve over time,” pointing to capacity-building including 60 public servants earning Level II procurement certification and more training underway. Public Accounts Committee Push: Opposition leader Michael Pintard says the new Public Accounts Committee will “follow the people’s money” and review Auditor General findings, with the opposition holding a majority. House Clash: The House erupted during a dispute over what business can be revived under the new committee, as Speaker Patricia Deveaux ruled that prior-parliament matters fell away after dissolution. Energy Relief in Grand Bahama: Electricity bills are set to drop after oversight and pricing changes for Grand Bahama Power Company, including removal of a base rate under 200 kWh and elimination of a storm recovery charge. Outages Explained for New Providence: Energy Minister JoBeth Coleby-Davis linked recent power interruptions to Bahamas Power and Light’s Summer Readiness infrastructure upgrades. Digital Payments Upgrade: CIBC Caribbean says its Visa and Mastercard cards can now be added to Google Wallet in The Bahamas and other regional markets starting June 9. Trade Finance Boost: CDB and IDB Invest launched a US$25 million trade finance facility to expand access for Caribbean businesses. AI and Workforce: Labour Minister Pia Glover-Rolle outlined The Bahamas’ AI approach at the ILO, stressing responsibility, training, and legislation. WSOP Goes Crypto (Bahamas tie-in): WSOP Paradise in The Bahamas this December will expand Solana-based payments, including stablecoin payouts for winners. Archaeology & Tourism Heritage: Nassau Harbour’s first underwater expedition found six shipwrecks, including pirate-era vessels, adding to Bahamas’ underwater heritage draw.

Energy & Infrastructure: FOCOL Holdings has closed a $379.2m financing package for its LNG-to-Power project, with the first major equipment shipment expected next week as construction ramps up at Clifton Pier, supported by US EXIM/PEFCO and a Bahamian-dollar syndicated loan led by CIBC Caribbean. Digital Payments: CIBC Caribbean is rolling out Google Wallet support in The Bahamas (plus Barbados, Jamaica, Cayman Islands and Trinidad & Tobago), enabling contactless payments via Android smartphones and WearOS. Real Estate: A rare 15-acre beachfront parcel on Grand Bahama’s Fortune Bay is listed for $5.5m, highlighting continued demand for coastal land. Policy & Trade Risk: Opposition MP Kwasi Thompson says the government’s delayed response to a US forced-labour trade deficiency could expose Bahamian exports to a 12.5% tariff, with fishing communities a key concern. Governance & Integrity: The Bahamas ranks 4th least corrupt in the Americas in Transparency International’s 2025 CPI, though experts warn the score decline points to shifting trust. Public Sector Operations: The Public Parks and Beaches Authority is set to modernise and beautify New Providence parks and beaches, including park wardens, expanded surveillance, online permits and quarterly restorations. Financial Markets: Fitch’s analyst says stronger sovereign ratings tend to come with more diversified, deeper capital markets—an issue for The Bahamas as it seeks greater market depth beyond BISX. Legal/Compliance: A Belgian businessman faces charges in The Bahamas after allegedly selling shares without Securities Commission approval. Environment Enforcement: Government plans to intensify crackdowns on derelict vehicles and illegal dumping, including spot fines and relocating scrapyards.

Parliament Row Over Allegations: PLP lawmakers and House leaders clash over tabling “untested” US-linked claims, arguing past practice differs and raising fresh questions about governance standards. Procurement Scrutiny: Finance Minister Michael Halkitis defends procurement reforms and says a 2021–2026 operational assessment is coming after criticism of no-bid awards. VAT on Food: Halkitis says VAT cuts on unprepared staples (5% to 0%) are meant to cushion cost pressures, blaming global fuel-driven inflation for higher living costs. Energy Financing Boost: FOCOL signs a US$379.2m LNG terminal financing package with US EXIM support and a Bahamian bank syndicate, a major step for local energy infrastructure. Banking Outlook: S&P revises Butterfield’s outlook to negative ahead of its planned CIBC Caribbean acquisition, citing integration and capital risks. Local Environment Crackdown: Government moves to intensify action on derelict vehicles and illegal dumping, including spot fines and relocating scrapyards. Tourism & Real Estate: Atlantis expands premium travel access via Tradewind Aviation private flights; a 15-acre Grand Bahama beachfront parcel hits the market for $5.5m. Cancer Support Spotlight: Nassau’s Gennie Dean Caring & Sharing group marks Cancer Survivors Month with events including a June 13 Hope Walk.

Procurement & Budget Scrutiny: Finance Minister Michael Halkitis pushed back on criticism of no-bid government awards, saying reforms are ongoing and the Ministry will assess procurement operations from 2021 to 2026, after contract reviews found direct awards worth up to $183m. VAT on Food: Halkitis defended VAT cuts on unprepared food and essentials, arguing they’re meant to ease cost pressures without raising prices, while noting the Bahamas’ import dependence and global fuel-driven shocks. Political Fallout: Prime Minister Philip Davis backed Halkitis in Parliament amid renewed calls for his resignation over alleged links to a construction company tied to convicted drug smuggler Jonathan Gardiner, saying he found nothing “immoral, unethical or illegal.” Banking Watch: S&P Global revised Butterfield’s outlook to negative, citing capital pressure risk tied to its planned acquisition of CIBC Caribbean. Energy Financing: FOCOL signed a $379.2m LNG terminal financing deal with Bahamian banks and the US Export-Import Bank. Regional Development Focus: The CDB wrapped its Nassau meeting with renewed calls to move from plans to delivery, with emphasis on youth, climate resilience and implementation. Health & Travel: WHO criticised Ebola-related travel restrictions on Uganda as unnecessary and damaging to economies. Local Business & Tourism: Atlantis marked World Oceans Day with “blue zone” conservation programming, while MSC revived its Pearl transpacific service for peak demand.

CDB Implementation Push: Caribbean Development Bank President Daniel Best closed the 56th Annual Meeting in Nassau by urging a shift from “plans to performance,” with renewed focus on youth skills, climate resilience and faster delivery across countries and partners. Forced-Labour Tariffs Watch: The U.S. Trade Representative proposed new Section 301 tariffs of 10% or 12.5% on imports from 60 economies over forced-labour enforcement failures, with comments and a July 7 hearing—raising stakes for regional exporters. Bahamas-Cuba Travel Advisory: The Bahamas urged citizens to avoid all non-essential travel to Cuba, citing electricity, fuel, transport and basic goods shortages, plus cash-based banking limits and strict entry rules. Tourism Airlift Deal: Atlantis Paradise Island announced a partnership with Tradewind Aviation, adding private/semi-private flights between Stuart, Florida and Nassau with an exclusive hotel+flight package. Maritime Compliance Update: The U.S. Coast Guard’s 2025 port state control report shows more exams and fewer detentions, and notes the Bahamas flag was removed from the targeted list. Local Politics: PLP and FNM supporters clashed outside Parliament over Finance Minister Michael Halkitis amid claims of links to a company tied to convicted drug trafficker Jonathon “Playa” Gardiner. Public Sector Pensions: Bahamas Chamber backs NIB’s July 1 pension and grant increases and higher insurable wage ceiling as necessary for long-term social security sustainability. Search Continues: A renewed search for missing American sailor Lynette Hooker in the Bahamas ended without answers, as investigators probe the circumstances of her disappearance.

NIB & Pensions: The Bahamas Chamber backs National Insurance Board contribution and benefit adjustments, saying July 1 pension/grant increases and higher insurable wage ceilings protect the long-term sustainability of the social security system. Immigration Policy: Minister of State for Immigration Darron Pickstock says a Bahamas Nationality Act amendment that lets denied applicants seek permanent residency is not a new category or “loophole,” but a modernization that also raises processing fees. Court & Procurement Risks: In the ongoing Adrian Gibson case, testimony links Top Notch Ltd. to a $45,000 WSC water-tank painting subcontract, with Michael Halkitis denying dealings after April 2020; separately, CG Atlantic General Insurance was ordered to pay $10,000 in non-party costs after withdrawing from proceedings. Energy & Travel: The Ministry of Foreign Affairs issues a Cuba travel advisory citing ongoing power, food, transport and healthcare strains tied to US oil-blockade impacts. Water & Growth: Consolidated Water appoints Sachin Chawla as Senior VP, Strategy and Growth, pointing to new desalination and contract momentum including Cat Island. Business & Community: CIBC Caribbean donates $5,000 to Junior Achievement Bahamas as the programme closes its 2025-26 year with awards ceremonies. STEM & Youth: An all-girl New Providence team heads to the International Greenwich Olympiad in London with a SmartSteps mobility cane project. Sports & Tourism Pulse: Bahamas Cycling Federation nationals in Exuma crown Rawshan Jones and Kami Roach, highlighting Family Island exposure and local economic spillovers.

Hurricane Preparedness: Disaster Risk Management Minister McKell Bonaby urged Bahamians to get homes and businesses inspected, install shutters/impact windows, stock non-perishables and water, secure documents, and consider insurance as the 2026 hurricane season ramps up. CDB Resilience Push: Caribbean Development Bank President Daniel Best said the region is moving from ambition to action at the CDB’s 56th meeting in The Bahamas, backing solutions like CCRIF parametric insurance for faster recovery, including for agriculture. Tourism & Nature: Prime Minister Edi Rama pointed to Nassau’s flamingos at Baha Mar as a “privilege” that can coexist with tourism—framing nature as part of destination value. Local Tourism Development: Royal Caribbean marked progress on the Royal Beach Club with a community day bringing government, business and local partners together as operations head into summer. Crime & Safety: Police in Nassau are investigating a stabbing that sent a 61-year-old woman to the trauma unit after she was attacked near Lake Cunningham. Maritime Tech: The Bahamas Maritime Authority launched a blockchain-secured digital seafarer record book system, aiming to modernize documentation for the shipping sector. Tourism Media Spotlight: The Caribbean Tourism Organization honoured Caribbean Week in New York storytellers and launched CTO TV to expand video-led tourism storytelling.

Caribbean Development Bank (CDB) Focus: CDB President Daniel Best says the bank’s 56th Annual Meeting in The Bahamas (June 1–5) zeroed in on moving “from ambition to action,” with practical solutions, stronger partnerships and a push to strengthen resilience and delivery under its new 10-year strategy. Regional Mobility Challenge: CDB also flagged traffic congestion as a development issue, citing major productivity and public health costs across the Caribbean, including research showing commuters in Trinidad and Tobago losing hundreds of hours annually. Tourism Storytelling Push: The Caribbean Tourism Organization (CTO) wrapped Caribbean Week in New York by honouring media leaders at its Caribbean Media Awards luncheon—sponsored by the Bahamas Ministry of Tourism—and launched CTO TV to expand Caribbean tourism video and digital content. Cruise Industry Updates: Norwegian Cruise Line is shifting the Norwegian Viva to PortMiami for the 2027–28 winter season, cancelling planned San Juan sailings, while Royal Caribbean held a community day in Nassau to spotlight local partners behind its Royal Beach Club project. Trade Pressure on The Bahamas: The U.S. is considering a proposed 12.5% tariff on Bahamas exports under a Section 301 forced-labour probe, saying the country hasn’t effectively enforced a prohibition. Local Public Safety: Police in Nassau are investigating a stabbing that left a 61-year-old woman hospitalised with very serious injuries near Lake Cunningham.

Maritime & Transport: Bahamas Transport Minister Leon Lundy led a delegation to Greece’s Posidonia 2026 to deepen ties for the Bahamas Ship Registry and boost support for Greek-owned shipping. Heritage & Tourism: An international expedition reports six shipwrecks linked to the real “Pirates of the Caribbean” found in Nassau’s harbor for the first time, including a burned hull possibly tied to pirate Henry Avery’s Fancy. Cruise Economy: Royal Caribbean marked the Royal Beach Club’s progress with a community day in Nassau, highlighting local partners as the project heads into summer demand. Trade & Compliance Risk: The U.S. is considering a proposed 12.5% tariff on Bahamas exports under Section 301 forced-labour findings, raising new pressure on compliance enforcement. Public Safety: Police in Nassau are investigating a June 4 stabbing that left a 61-year-old woman hospitalised with very serious injuries. Regional Business Climate: Caribbean tourism and media leaders gathered in New York for CTO awards, with Bahamas Tourism sponsoring, underscoring the role of storytelling in driving sector visibility. Labour & Community: Labour Day marches across the Bahamas drew unions and political support, with organisers stressing worker unity and rights.

Fuel Costs & Boating: U.S. recreational boaters are cutting back on fill-ups as regular gas averages 34% higher than a year ago and diesel is up 53%, with ethanol-free fuel often costing $7-plus per gallon—an added squeeze for summer plans. Bahamas Carnival & Tourism Buzz: Bahamas Masqueraders’ 11th annual road march, themed “Enchanted,” is set to blend Junkanoo energy with international DJs and artists, with guests also getting a taste of Labour Day festivities. Trade Policy Shock for The Bahamas: The U.S. is considering Section 301 tariffs tied to forced-labour enforcement, with a proposed 12.5% export tariff on The Bahamas (and Guyana) if Washington’s findings hold. CDB Focus on Diversification: At the CDB’s 56th Annual Meeting in Nassau, leaders urged faster delivery, stronger social protection, and more economic diversification to build resilience against shocks. Maritime & Ship Registry: Transport Minister Leon Lundy led a delegation to Posidonia 2026 to strengthen ties supporting the Bahamas Ship Registry and maritime services. Pirates of Nassau: An international expedition reports six Nassau harbor shipwrecks linked to the “Golden Age of Piracy,” including a burned hull possibly tied to Henry Avery’s Fancy. Cruise Investment in The Bahamas: Carnival unveiled its RelaxAway upgrade at Half Moon Cay, expanding the private-island experience for Carnival passengers. Caribbean Media Spotlight: CTO’s Caribbean Media Awards in New York—sponsored by the Bahamas Ministry of Tourism—honoured regional storytelling and digital innovation. Water & Dividend News: Consolidated Water Co. Ltd. approved a $0.14 quarterly cash dividend for Q3 2026, payable July 31.

Caribbean Development Bank (CDB) push for diversification and delivery: Prime Minister Dr. Godwin Friday used the CDB’s 56th Annual Meeting in Nassau to urge borrowing member countries to focus more on economic diversification, strengthen social protection, and move “swiftly” from plans to implementation as climate shocks and global uncertainty bite. CDB financing boost: The bank also secured approval for a US$200m first-loss portfolio credit guarantee backed by Canada, expected to unlock up to US$400m in extra development lending for resilience, sustainable infrastructure and growth. Climate finance access: Friday met Green Climate Fund officials to expand St Vincent and the Grenadines’ access to climate funding, with priorities including water security, agriculture, sustainable tourism and the blue economy. Labour Day in the Bahamas: Thousands marched in Nassau and Grand Bahama in the Sir Randol Fawkes Labour Day Parade, with unions and political figures highlighting workers’ rights and continued labour advocacy. Bahamas maritime spotlight: The Bahamas Transport Minister led a delegation to Posidonia 2026 to strengthen ties for the Bahamas Ship Registry, while separate reporting highlights new research uncovering six pirate-era shipwrecks in Nassau Harbour. Cruise sector momentum: Carnival unveiled its upgraded and renamed Half Moon Cay private island as RelaxAway, and the cruise line plans a coordinated July 4 fireworks gathering near Grand Bahama for America’s 250th anniversary.

CDB Priorities for Caribbean Resilience: As the Caribbean Development Bank’s annual meeting wraps in Nassau, leaders renewed calls for faster delivery on youth investment, resilience-building and protection against climate and geopolitical shocks, with Prime Minister Godwin Friday urging stronger regional unity and development financing. Canada-Backed Financing Boost: The CDB secured board approval for a US$200m first-loss portfolio credit guarantee backed by Canada, expected to unlock up to US$400m in additional lending capacity for climate resilience and sustainable infrastructure. Blue Economy Funding Pressure: Caribbean Climate-Smart Accelerator CEO Racquel Moses warned that “blue economy” money is available but projects must be ready now or funding will be lost, pointing to multiple investor and fund pipelines seeking bankable ocean-focused proposals. Forced-Labour Tariff Risk for The Bahamas: The U.S. Trade Representative issued Section 301 forced-labour findings, recommending 12.5% duties on The Bahamas among 46 economies, raising new trade-cost concerns for regional exporters. Local Governance & Public Safety: A judge set $30,000 bail for an off-duty senior police officer accused of killing an American worker, while a separate case continues around the Lynette Hooker disappearance as U.S. Coast Guard divers and cadaver dogs press a new search. Maritime & Tourism Developments: Carnival’s private island in The Bahamas has been upgraded and renamed RelaxAway, Half Moon Cay, and researchers report six Nassau-area shipwrecks with suspected ties to the “Golden Age of Piracy.” Water Sector Dividend: Consolidated Water Co. declared a $0.14 per share quarterly cash dividend payable July 31, 2026.