AGP Executive Report

Bahama Rock Expansion Fallout: Grand Bahama’s Bahama Rock says it will likely “close permanently” if the Davis administration doesn’t approve access to a new aggregate source on the former Bahamas Cement Company property, warning a production halt could furlough 69 hourly workers and drive up construction costs for roads, homes, schools and tourism. Labour & Pay Pressure: The TUC says Grand Lucayan redundant workers still haven’t received severance payments and union agency dues, leaving many facing housing loss. Power Reliability: Bahamas Power and Light reports AC installations at two Eleuthera schools triggered outages, and says electrical upgrades are underway to restore stable supply. Teachers’ Leadership Change: Bahamas Union of Teachers president Belinda Wilson announced she will retire in July 2028, with remaining focus on outstanding confirmation letters, promotions and benefits. Court Watch: The Court of Appeal holds a special two-day sitting in Grand Bahama for the first time in 18 years, with Chief Justice Milton Evans warning mandatory retirement ages can worsen judicial “brain drain.” Healthcare Access Move: Doctors Hospital plans to cut the emergency room deposit requirement by about one-third after reducing losses from unpaid bills, aiming to improve affordability. Aviation Links: American Airlines expands its Miami Caribbean network, adding more frequency to Exuma, Tortola, Antigua and St. Kitts. Cruise Industry Update: Carnival opens bookings for Carnival Tropicale, set to sail from Galveston in April 2028 with calls including Nassau.

Bahama Rock Fallout: Bahama Rock says it could “close permanently” if the Davis administration doesn’t approve access to a new aggregate source on the former Bahamas Cement Company site, warning a shutdown could furlough 69 workers and push aggregate costs sharply higher for construction and tourism. Local Construction Pressure: A Grand Bahama aggregate halt is already raising alarms among developers and businesses, with concrete and materials costs climbing and some projects reportedly paused as shipping and fuel costs bite. Grand Bahama Jobs vs Environment: Workers staged a protest ahead of a planned Sept. 18 production cease, while environmental groups and residents question the expansion’s impact on pinelands, protected trees, and nearby communities. NIF Accountability Row: Opposition Leader Michael Pintard renews demands for a clear accounting of the National Investment Fund, after reported balances allegedly fell from about $265.3m to roughly $200,000 within months. Energy Reliability: Bahamas Grid says it cut New Providence legacy underground cable faults by nearly half, from 50 to 27, and has mobilised an international repair team. Healthcare Affordability: Doctors Hospital plans to cut the emergency room deposit requirement by one-third, aiming to improve access after reducing impairment losses. Aviation & Travel: American Airlines expands Miami Caribbean frequency, adding more flights to the Bahamas (including Exuma) and other islands, while local aviation providers say US DOT concerns have left some expansion plans in limbo. Climate Funding: CABRIC grants open for Bahamian community groups, with up to $5m available for coastal resilience projects. Governance & Courts: The Court of Appeal holds a special two-day sitting in Grand Bahama, and Chief Justice Milton Evans warns mandatory retirement rules can worsen judicial brain drain. Business Leadership: EY’s Bahamian regional managing partner, Michele Thompson, retires after 39 years, with Bill Bailey set to succeed her.

National Investment Fund questions: An OP-ED and related reporting renew calls for a full accounting of the Bahamas’ National Investment Fund after figures reportedly fell from $265.3m in Dec. 2025 to about $200,000 by March 2026, with critics asking where roughly $265m went and warning that transparency is key to public trust. Court access to justice: The Court of Appeal is holding a special two-day sitting in Grand Bahama, returning to the island for the first time in 18 years, with judges saying the move brings the judiciary closer to communities. Construction supply risk: Bahama Rock says it could “close permanently” if the government does not approve access to a new aggregate source, warning of furloughs and major cost increases for roads, homes and tourism; local developers urge government to act as concrete and materials costs rise. Grid reliability: Bahamas Grid Company says it has cut legacy underground cable faults in New Providence by nearly half (from 50 to 27) and has mobilised an international specialist repair team. Aviation costs and access: Concerns over proposed aviation fees and a lack of transparency in the BACSWN arrangement are flagged, while separate reporting says US DOT “concerns” have put local airlines’ US licensing in limbo. Healthcare affordability: Doctors Hospital says it plans to cut the emergency room deposit requirement by about one-third after reducing losses tied to unpaid bills. Climate funding: The CABRIC programme opens up to $5m in grant funding for locally-led climate resilience projects across Bahamian communities. Cultural preservation: The US is investing $245,000 to restore Fort Montagu, including urgent conservation of its historic cannons.

Crypto & Wealth Rankings: Henley & Partners’ Crypto Wealth Report 2026 says The Bahamas ranks in the global top 10 for crypto adoption, while estimating 135,694 crypto millionaires worldwide and a $2.6 trillion market despite Bitcoin’s retreat. Cruise Industry Milestone: Royal Caribbean’s Icon Class “Hero of the Seas” has completed its float-out in Finland, with a planned 2027 Miami debut and Bahamas stops. Local Tourism Friction: Cabbage Beach vendors say talks over accommodation tied to the Four Seasons Ocean Club Residences project have stalled, with livelihoods at stake and relocation offers disputed. Education Bargaining: The Bahamas Union of Teachers and government agree a new five-year deal, including higher salary caps, hardship allowances for Family Islands postings, and lump-sum payments. Public Finance Scrutiny: A senior banker urges clearer explanation of the “disconnect” between a $1bn debt jump and a reported fiscal deficit. Grand Bahama Jobs & Materials: Bahama Rock confirms temporary layoffs and a planned production halt amid depleted reserves and uncertainty over permits for a proposed expansion. Climate Resilience Funding: The CABRIC programme opens grant applications for Bahamian community groups to fund coastal resilience projects, with categories up to US$500,000. Governance & Data: BNSI advances a National Strategy for the Development of Statistics with support from the IDB to improve official data systems.

Teacher Pay Deal: The Bahamas Union of Teachers and the government have agreed a new five-year industrial pact (2025-2030), retroactive to July 1, lifting entry pay to $30,100 and setting a maximum salary of $54,000, with lump-sum payments of $700 (year three) and $750 (year five) plus hardship allowances for Family Islands teachers. Freeport Harbour Supply Shock: Bahama Rock says it will cease production Sept. 18 and temporarily lay off 69 workers for 60 days, citing depleted permitted limestone reserves and uncertainty over permits to access a new source tied to the Freeport Harbour expansion—while opponents demand an independently verified assessment of whether other producers can cover any aggregate shortfall. Grand Bahama Jobs at Risk: A separate report puts the potential impact at about 80 jobs and highlights the company’s estimated $25m annual contribution to the island’s economy as the shutdown deadline nears. Financial Services Leadership: Suntera Global appoints Toni Bonzon as managing director for its Bahamas office, tasked with running operations and driving new corporate and private wealth business, especially across Latin America. Climate Resilience Funding: The CABRIC programme will offer climate resilience grants to Bahamian community and non-profit groups, with about US$5m available for the country across small (up to $150k), medium ($150k-$300k) and large ($300k-$500k) grants. Environment Watch: A study warns Caribbean queen conch protected by marine protected areas may lose suitable climate conditions abruptly within two decades, shifting the conservation challenge beyond fishing pressure. Coral Decline: New research finds Bahamas coral cover has been falling over the 21st century as warming reduces reefs’ recovery time. Aviation Tragedy: A Miami family of four—two adults and two grandchildren—was found dead after a small plane went missing near the Bahamas, with search efforts focused off Andros/Great Harbour Cay.

Cabbage Beach Access: Vendors and beach users are pushing the Government and Four Seasons Ocean Club Residences developer for clarity after rumours of $10,000 “relocation” letters sparked confusion over whether Paradise Island’s Cabbage Beach will remain open and what guarantees vendors would get. Public Finance Scrutiny: An economist says “something’s not adding up” after the national debt rose by more than $1bn in a year despite a forecast Budget surplus, pointing to transparency gaps around deficits, direct debt and contingent liabilities. VAT Cost Pressure on Food Retail: AML Foods warns the revised VAT treatment of uncooked groceries will raise reinvestment costs by about 10% and increase annual expenses by $4.5m, forcing a “pivot” as inflationary pressures mount. Regulator Moves on Investment Funds: Bahamas Securities Commission seeks court-supervised liquidation of Holdun Family Office (Bahamas) over alleged misvaluation of funds and unjustifiable fees, following winding-up actions against related funds. Aviation Tragedy Off Andros: Bodies of four family members missing after a small plane flight from Great Harbour Cay to Miami were recovered, including an 80-year-old pilot and his wife and two grandchildren. Disaster Preparedness: The Department of Meteorology issued a severe thunderstorm warning for Inagua and adjacent waters and parts of the Great Bahama Bank, urging residents and boaters to take immediate precautions. Sports & Tourism Spotlight: Two Bahamian track stars, Devynne Charlton and Shaunae Miller-Uibo, are set for the World Athletics Ultimate Championship in Budapest, while Penn State returns to Nassau for the Atlantis Collegiate Baseball Series.

Bahamas Aviation Tragedy: A Miami-bound Piper PA-34 with four relatives aboard vanished off the Bahamas near Andros; by Tuesday, family members said all four—80-year-old pilot Mario Lamar, his wife Lili, and grandchildren Sofia Sosa and Christian Sosa—were found dead after relatives recovered the bodies by boat, with the U.S. Coast Guard coordinating alongside Bahamian authorities. Electricity & Infrastructure: Bahamas Grid executives, via CFAL, say they’re moving to a “Plan B” to keep work going when Bahamas Power and Light resources aren’t available, prioritising network modelling and faster fixes amid ongoing outage concerns. Tax Administration: Grand Bahama business leaders say they weren’t clearly briefed on One Tax Bahamas requirements, including whether separate BINs are needed for different entities operating in Freeport. Cyber Resilience: Global standard-setters CPMI-IOSCO published a cyber resilience toolkit for financial market infrastructures and a paper on risks from third-party providers. Sports Spotlight: Devynne Charlton set a new Bahamian women’s 100m hurdles national record of 12.33 seconds at the Diamond League Final in Brussels. Digital Assets: A Henley & Partners report says 23 crypto billionaires exist globally, with nine tied to Bitcoin, as crypto wealth broadens despite price pullbacks.

Crypto & Wealth: Henley & Partners’ Crypto Wealth Report 2026 says there are 135,694 crypto millionaires worldwide, with 92,272 Bitcoin millionaires, even as Bitcoin sits about 38% below its October 2025 peak. Aviation Safety: A multi-agency search is underway for a small plane carrying four family members that lost contact off the Bahamas coast near Andros, after departing Great Harbour Cay for Florida. Public Finance: The Central Bank reports national debt jumped by more than $1bn in the final year of the Davis administration, pushing debt to $13.17bn and lifting key ratios amid higher net borrowings and contingent liabilities. Tourism & Ports: Princess Cruises is shifting most published calls away from Princess Cays to Half Moon Cay and Celebration Key, with passengers facing limits on beverage benefits by ship arrival area. Local Economy & Infrastructure: Prime Minister Philip Davis toured the Freeport Health Campus, saying the first phase is due by Sept 2027 and the facility is intended to support future growth in Grand Bahama. Governance & Housing: The Ministry of Housing says it has no record of “Spy” Ellis or his companies receiving housing contracts under the Davis administration, after opposition questions. Education Labour: Education Minister Chester Cooper urged “calm heads” as teachers remain on industrial action alert amid stalled negotiations.

National Debt Watch: The Central Bank says The Bahamas’ national debt jumped by more than $1bn in the first Davis administration’s final year, breaching $13bn to $13.17bn as net borrowings and rising contingent liabilities pushed key ratios higher. Monetary & Reserves Update: The economy kept a positive growth path in Q2, with tourism gains and construction stimulus, while external reserves rose $181.5m (5.9%) to support about 31 weeks of import cover. Power Reliability: Bahamas Power and Light again apologised as outages hit New Providence for a second week, while Bahamas Grid Company moves to bring in international cable repair specialists to fix legacy underground faults. Airport Fees Debate: Eleuthera operators warn proposed private aviation airport charges could be a “double-edged sword,” with concerns about near-doubling costs for popular aircraft types. Cruise Industry Shift: Princess Cruises is dropping most Princess Cays calls, moving passengers to Half Moon Cay and Celebration Key, with some onboard benefits limited by ship arrival area. Legal & Property Fight: Old Bahama Bay control is back in Supreme Court as condo managers seek injunctions and reinstatement of access amid competing claims. Education & Labour: Teachers remain on industrial action alert as Education Minister Chester Cooper urges “calm heads” amid stalled negotiations. Housing Contracts Claim: Housing officials say there’s no record of murdered Abaco businessman “Spy” Ellis receiving housing contracts under the Davis administration. Business Continuity & Resilience: The DRM Authority marks seven years since Hurricane Dorian, pushing a shift from response to preparedness. Education Leadership: UB appoints Dr. Raquel Barr-Edgecombe interim dean for graduate studies.

Disaster Preparedness: The Disaster Risk Management Authority says it has shifted from post-storm response to whole-of-risk resilience, rolling out a new disaster communications platform and expanding support for Family Islands, while flagging shelter standards as a key gap. Business Continuity: Nearly 100 local businesses joined DRM workshops to stress-test hurricane plans and improve recovery readiness. Power Reliability: Bahamas Power and Light reported generation issues at Clifton Pier that knocked out power across parts of New Providence, with operators like NRG Bahamas warning constant blackouts are hitting inventory, revenue and payroll. Digital Policy: Prime Minister Philip Davis told the World Telecommunication/ICT Policy Forum that small states must protect citizens’ data and negotiate cross-border value, while Minister Sebastian Bastian said the Bahamas is proud to host the regional digital-policy conversation. Cruise Economy: Princess Cruises is dropping most calls to Princess Cays after itinerary revisions, while Norwegian Cruise Line opened its $350m Great Tides Waterpark at Great Stirrup Cay, adding 19 slides and new island attractions. Tourism Demand: Squaremouth data shows fall travel up in Aruba (+53.93%) and The Bahamas (+17.65%) as hurricane-season anxiety eases. Local Education Support: Yntegra Group donated classroom supplies across Exuma Cays schools as students return. Legal Fees Dispute: The Court of Appeal is set to decide a CLF legal fee access fight tied to the Duprey estate.

Power Reliability & Business Impact: Bahamas Power and Light reported a generation-related outage at Clifton Pier that knocked out power across parts of New Providence, with operators like NRG Bahamas warning of inventory losses, revenue hits, and payroll strain from repeated blackouts. Disaster Risk & Business Continuity: The Disaster Risk Management Authority ran a three-day business continuity workshop for nearly 100 firms, pushing practical hurricane preparedness and recovery planning. Digital Policy & Connectivity: Prime Minister Philip Davis and Innovation Minister Sebastian Bastian used the World Telecommunication/ICT Policy Forum in Nassau to argue for stronger data protection, enforceable connectivity rules, and digital inclusion for small island states. Education & Local Capacity: BAMSI opened the 2026–27 academic year with expanded facilities and student residences, framing the institute as a pillar for food security and skills building in North Andros. Regional Finance Leadership: JN Bank confirmed Luwanna Williams as managing director effective Sept. 7, following the retirement of Leesa Kow. Community Support: Yntegra donated classroom supplies to Exuma Cays schools, equipping teachers with tools and learning materials for the new term. Cruise & Tourism Investment: Norwegian Cruise Line opened its $350m Great Tides Waterpark at Great Stirrup Cay, adding 19 slides and new island attractions aimed at boosting visitor demand.

Telecom Resilience & Disaster Readiness: The Disaster Risk Management Authority ran a three-day Business Continuity Planning workshop for nearly 100 businesses, pushing practical hurricane preparedness and recovery planning. Election Integrity: CARICOM observers renewed calls for campaign finance legislation and a more independent, transparent electoral process after monitoring The Bahamas’ May general election. Digital Sovereignty: PM Philip Davis and Innovation Minister Sebastian Bastian used the World Telecommunication/ICT Policy Forum to argue for protected citizen data, enforceable landing rights, and digital inclusion that turns connectivity into local opportunity. Power Reliability Hits Business: Bahamas Power and Light reported generation-related outages affecting parts of New Providence; business owners say constant blackouts are driving inventory losses and revenue strain. One Tax Bahamas Concerns: Motor dealers and other businesses questioned whether the new One Tax portal will truly make filing easier, warning of added “hoops” and strain from new BIN requirements. Airport Fees Worry Tourism: A veteran airline chief warned proposed higher Family Islands airport levies could trigger a “bloodbath” for airlift and tourism competitiveness. CARICOM/Regional Finance & Skills: JN Bank confirmed Luwanna Williams as managing director, while BAMSI opened its 2026–2027 academic year with expanded facilities and a stronger food-security and capacity-building focus. Humanitarian Pressure: Rights groups reported nearly 200,000 Haitians were forcibly returned in early 2026, with The Bahamas among the countries accounting for additional returns.

Humanitarian Pressure: Rights group GARR says nearly 200,000 Haitians were forcibly returned in the first eight months of 2026, with the Dominican Republic accounting for most cases and limited border-point services worsening Haiti’s crisis. Power & Business Impact: Bahamas Power and Light reported another generation-related outage affecting parts of New Providence; business owners say repeated blackouts are driving inventory losses and revenue strain. Digital Policy & Sovereignty: PM Philip Davis and Minister Sebastian Bastian used the World Telecommunication/ICT Policy Forum in Nassau to push SIDS positions on data protection, landing rights and “digital sovereignty,” while stressing resilience and inclusion. Tax System Concerns: One Tax Bahamas rollout details show firms with multiple entities may need separate BINs even with one log-in, and business groups warn the portal could add “hoops” and anxiety for compliance. Airport Fees Warning: An airline executive warns proposed higher Family Islands airport levies could trigger a tourism “bloodbath” by eroding value for money and competitiveness. Education & Labour Tensions: Teachers’ union puts members on industrial action alert after rejecting the government’s latest pay counterproposal, raising the risk of further disruption. Cruise & Tourism Investment: Norwegian Cruise Line opened its Great Tides Waterpark at Great Stirrup Cay, adding 19 slides and new attractions as cruise lines intensify private-island upgrades. Governance & Asset Oversight: An IDB report urges The Bahamas to strengthen governance over public sector assets, citing limited ability to track and value what the state owns.

Banking Leadership: JN Bank confirms Luwanna Williams as new managing director effective Sept. 7, following Leesa Kow’s retirement, with Williams bringing 20+ years’ Caribbean finance experience. Power Reliability: Bahamas Power and Light reported generation issues at Clifton Pier causing outages across New Providence; business owners say constant blackouts are hitting inventory, payroll and revenue. Digital Policy & AI Skills: PM Philip Davis and Minister Sebastian Bastian used the World Telecommunication/ICT Policy Forum in Nassau to push “digital sovereignty,” data protection and resilience, while Bastian urged AI literacy to be built into education and teacher upskilling. Education & Labour: The Bahamas Union of Teachers put 1,400+ members on industrial action alert after rejecting the government’s counterproposal again, raising disruption fears. Tax System Rollout: One Tax Bahamas is set to require separate BINs for multiple entities, while businesses question whether the new portal will reduce “hoops” or add complexity. Tourism & Airlift Costs: Hotel and airline operators warn airport fee increases could trigger a “bloodbath” for Family Islands tourism by eroding value for money. Public Sector Oversight: An IDB-backed push calls for stronger governance over public assets, as concerns grow about the government’s ability to track and value what it owns. Disaster Readiness: A DRM symposium at Baha Mar highlighted institutional strengthening and preparedness seven years after Hurricane Dorian. Immigration Enforcement: 14 Haitian nationals were convicted for immigration offences and six deported from New Providence.

Disaster Risk & Resilience: The Bahamas is being highlighted as a regional leader in disaster risk management after the IDB partnered with the Disaster Risk Management Authority for a symposium at Baha Mar, with PM Philip Davis stressing stronger institutions and preparedness ahead of the next major storm. Public Finance & Accountability: Bahamas Public Parks and Public Beaches Authority chairman Jamahl Strachan says an audit of the authority’s spending will be tabled in Parliament, after reporting showed government loans to the authority and questions over repayment capacity. Digital Economy & Skills: Innovation Minister Sebas Bastian told the WTPF-26 forum that the Bahamas must quickly build AI literacy and update education and training so citizens can become builders, not just consumers. Connectivity Policy Forum: ITU Secretary-General Doreen Bogdan-Martin and Bahamian officials used WTPF-26 to push “meaningful inclusion” and resilience-focused digital policy for small island states. Tourism & Aviation: Flyte won approval to launch private jet service linking Florida with Nassau, Bimini, Marsh Harbour and Eleuthera, expanding charter access across the region. Local Business Resilience: Grand Bahama Port Authority’s “Built to Bounce Back” workshop trained MSMEs on risk management and continuity planning. Energy & Environment: GBPA launched a sargassum cleanup pilot, recycling removed seaweed into mulch and compost. Labour Update: Bahamas Union of Teachers voted to move toward industrial action, citing stalled negotiations over a new industrial agreement. Cruise Operations: Royal Caribbean cancelled Royal Beach Club Paradise Island day passes for one Nassau date in Jan 2027 due to a chartered sailing reserving the club.

BPL Costs & Debt: A new look at government records says the Bahamas has effectively been funding BPL through rising legacy debt and fuel-cost support since 2021, with BPL borrowing from government climbing sharply into the hundreds of millions by the 2025/26 fiscal year. Digital Sovereignty Push: Prime Minister Philip Davis and Innovation Minister Sebas Bastian used the ITU’s World Telecommunication/ICT Policy Forum in Nassau to argue small islands are getting a “sovereignty discount” in tech deals, and should negotiate better terms on data, licences, resilience and affordability. Connectivity After Disasters: Bastian also urged regulators to require satellite and other connectivity providers to offer service during emergencies at fair prices as a condition of operating licences. Credit Tightens: The Central Bank reported Bahamian dollar credit narrowed to $69.5m in July, with private sector credit growth slowing while some consumer and mortgage lending rose. Airport Fees Rise: Aviation operators warned new private-airport levies—hitting international travellers hardest—could force higher travel costs from Jan. 1, 2027. Auto Sales Cool: The Bahamas Motor Dealers Association said there’s no panic over an 11% drop in new vehicle sales in 2026’s first half, blaming shipping costs and delays. Tourism & Power Pressure: Andros tourism operators say outages and limited airlift are adding real costs, including generator spending for small lodges. Grand Bahama Back-to-School: RBPF and Doctors Hospital events in Grand Bahama delivered giveaways, health checks and supplies to hundreds of students. Immigration Enforcement: Ten Haitian and one Jamaican national were convicted for immigration offences, while 24 foreign nationals were deported after removal orders were executed.