AGP Executive Report

Fiscal Watch: Fitch Ratings says The Bahamas is set to post a small 2026/27 deficit of about $64m, not the $223.1m surplus forecast in the 2026/27 budget, while still projecting debt reduction. Pensions Push: The Securities Commission renews its call for mandatory occupational pension plans for private-sector workers to deepen capital markets and boost retirement savings. Tourism & Growth: CFAL’s Q2 review expects the economy to expand broadly in line with the IMF’s ~2% outlook, led by resilient tourism and improving fiscal performance. Education & Labour: The Bahamas Union of Teachers accuses government of halting salary talks; the education ministry says negotiations are still 90% to agreement. Teacher Shortage Plan: Government says its first priority is filling Family Island vacancies, including recruiting teachers from Ghana. Energy & Environment: PAHO/WHO supports health accounts capacity-building, while the Forestry Unit advances a national mangrove management plan; the Bahamas Protected Areas Fund warns of stony coral tissue loss disease. Disaster Readiness: Bahamas Red Cross launches a decentralised hurricane-season response plan for outer islands. Business Confidence: PM Davis marks J.P. Morgan Trust’s local office opening as a “statement of confidence.” Cruise Economy: Carnival expands its surplus meal donation programme into The Bahamas, redirecting unserved meals to local charities.

UN Representation: Minister Lisa Rahming led a team at the UN midterm review of the New Urban Agenda, with officials pushing better financing, governance and climate resilience for remote islands. Skills & Jobs: Upskill Bahamas graduates received iPads after completing free online certifications, reinforcing the push for reskilling and career pivots. Economic Outlook: CFAL says the Bahamas economy is expanding broadly in line with the IMF’s ~2% growth call, driven by tourism strength, improving fiscal performance and resilient banking. Pensions & Capital Markets: The Securities Commission renewed its push for mandatory private-sector occupational pension plans to deepen capital markets and boost long-term retirement savings. Public Finance Watch: Fitch projects the Davis administration will miss its budget surplus targets, forecasting a deficit instead of the surplus in the current fiscal year. Workplace Safety: The Contractors Association is meeting Labour after inspections flagged widespread gaps in awareness of the Health and Safety at Work Act, with calls for clearer, enforceable standards. Tourism & Transport: A taxi vs livery dispute is set for union-led intervention after protests disrupted access at LPIA, raising concerns for the tourism sector. Cruise & Community: Carnival expanded its surplus meal donation programme to The Bahamas and marked Celebration Key’s first-year milestone of 2.4 million guests. Real Estate: Windsor Lakes is targeting first residents in September as the $35m eco-luxury community nears completion.

Cruise & Community: Carnival Corporation launched its expanded surplus meal donation programme in The Bahamas, starting with 318+ pounds of prepared, unserved meals offloaded from Carnival Freedom and Carnival Conquest for the Grand Bahama Children’s Home and the Urban Renewal Authority, as part of its “Less Left Over” food-waste strategy. Tourism & Business Travel: A new Atlantis Paradise Island survey says meetings and incentive travel remain strong, with accessibility and direct flights leading what planners want most and growing preference for all-in-one resorts. Local Economy & Housing: New Providence’s housing market is in a “super seller’s market,” with limited supply driving fast bidding wars and offers above asking prices within hours. Energy & Cost Pressure: Bahamas Power and Light placed parts of Long Island on rotational load shedding due to higher demand, following recent outages tied to equipment issues. Healthcare Reform: Pharmacists say they’re “a little less nervous” about the National Prescription Drug Programme’s move under the National Health Insurance Authority after assurances the NIB will keep managing operations and payments won’t be interrupted. Transport & Labour: Taxi and livery drivers’ dispute over access to guests at hotels and LPIA is set for union intervention, with fears it could damage tourism. Construction Safety: The Bahamas Contractors Association is challenging whether the Health and Safety at Work Act is robust enough to be enforced, citing serious violations at New Providence sites. Legal/Property: Paradise Island lighthouse lease litigation continues at the Privy Council, with the entrepreneur arguing the Government’s position is “complete nonsense” and that a binding agreement exists. Trade & Mobility: Belize says it’s still in talks with the EU on a Schengen visa waiver, while The Bahamas is listed among CARICOM territories already enjoying visa-free access to Spain. Grand Bahama Skills: Grand Bahama Shipyard opened applications for its 2027 apprenticeship programme, offering paid training and internationally accredited trade pathways for young Bahamians.

Aviation Safety: Bahamas officials have grounded Flamingo Air after a July 10 crash on North Andros killed 10, including the pilot and nine passengers, and a separate fire after another landing the same day. Power & Cost of Living: Bahamas Power and Light placed parts of Long Island on rotational load shedding (Stella Maris–Seymour’s, then Scrub Hill–Gordon’s, then Stella Maris–Seymour’s again) after a station fire caused an early outage; residents are also reacting to a small $8.45 rebate tied to a regulatory settlement. Tourism & Cruise Economy: Carnival marked Celebration Key’s first anniversary on Grand Bahama with 2.4 million visitors, and expanded its surplus meal donation programme in The Bahamas, redirecting 318 pounds of unserved meals to local charities. Business Regulation & Workplace Safety: Contractors Association president Leonard Sands says workplace accidents need stronger protections, while a local business leader calls for a Fair Trading Commission to curb predatory pricing. Industry Leadership: BHREA elected Tameka Forbes as its first female president, and BREA licensed Claire Thackray as a broker. Trade & Shipping: Reports say more Panama-flagged containerships are reflagging, with some shifting to registries including the Bahamas, amid China-related inspections and detentions.

Public Health: The Bahamas recorded 1,116 new cancer cases in 2024 and 525 cancer deaths annually, as authorities roll out a push for earlier screening and lifestyle changes to tackle a global rise that WHO warns could reach nearly 35 million cases by 2050. Utilities & Cost of Living: A $8.45 BPL rebate after a regulatory settlement is drawing sharp resident backlash, with many saying the credit is too small given outages and damage to appliances. Tourism & Travel Trade: Bahamasair says summer bookings are at 67% as demand holds steady into late June, with Florida routes among the strongest. Cruise Economy: Carnival’s Celebration Key marked its first anniversary with 2.4 million visitors since opening, while Carnival also expanded its unserved-meal donation programme in The Bahamas, sending 318 pounds of meals to local partners. Real Estate & Licensing: Claire Thackray earned a broker’s licence through the Bahamas Real Estate Association after completing multiple professional credentials. Transport & Labour Tensions: Taxi drivers at LPIA say they may escalate industrial action after talks with the transport minister failed to resolve the livery-taxi dispute. Aviation Safety: Industry leaders are calling for a Bahamas Aviation Safety Committee to improve accountability after the Independence Day Andros crash. Cannabis Regulation: Pharmacists are seeking clarity on the medical marijuana roll-out, saying the Cannabis Authority still lacks a visible public presence.

Bahamas LNG Push: Former PM Dr. Hubert Minnis questions the cost of the Davis administration’s New Providence LNG terminal at Clifton Pier, saying his team’s earlier plan was $215m versus the government’s higher price, and arguing for a different ownership model. Tourism & Cruise Economy: Carnival’s Celebration Key marked its first anniversary with 2.4m cruisers since opening, supporting about 1,000 year-round jobs and with 80% of food and retail operators locally owned. Air Travel Demand: Bahamasair reports summer bookings at 67% as demand firms up for Florida routes, including West Palm Beach and Orlando. Education & Labour Market: The Ministry of Education says the Bahamas is short by nearly 300 teachers and is looking overseas while calling on retired educators to return. Insurance Court Fight: The Insurance Commission is seeking to overturn a Supreme Court ruling in the Orry J Sands & Company/Sagicor “branch” designation dispute, arguing the agent/broker lacked standing. Tech & Finance: Bank of Korea moves toward live CBDC transactions in September with nine banks, as Bahamas’ own CBDC plans continue to draw regional attention.

Aviation Safety & Oversight: Minister JoBeth Coleby-Davis pushed for a Bahamas National Aviation Safety Task Force after meetings with CAAB leadership and airline operators, aiming to tighten safety, security and emergency planning across the archipelago. Energy & Cost of Power: Former PM Hubert Minnis questioned the price tag of the Davis administration’s New Providence LNG terminal, while BPL confirmed a $8.45 one-time rebate for eligible New Providence households tied to regulatory fines. LNG Investment: Shell has advanced the Bahamas LNG regasification terminal with final investment decision steps and groundbreaking activity at Clifton Pier, with government saying it will improve reliability and lower long-term bills. Cruise Tourism Momentum: Carnival marked Celebration Key’s first anniversary with 2.4 million guests, while Disney named its first female captain for the Disney Wish. Local Aviation Tragedy: The AAIA continues investigating the July 10 Flamingo Air Cessna 402 crash that killed 10, including Da Pond Band members, as calls grow for stronger regulation of informal air services. Health Outlook: WHO data shows cancer cases could nearly double by 2050; The Bahamas reports 1,116 new cases and 525 cancer deaths annually, with the Health Ministry stressing early detection. Finance & Banking: PM Davis welcomed J.P. Morgan’s move to open an officer in The Bahamas, signaling confidence in the financial sector. Regional Policy: CARICOM tax administrators meet in Guyana to discuss “smart, data-driven and AI-enabled” revenue systems.

LNG Energy Push: Former PM Hubert Minnis questioned the Davis administration’s cost for the New Providence LNG terminal at Clifton Pier, saying his earlier plan was $215m versus a $285m private option, while the government says the project will improve reliability and lower long-term bills. Power Relief Fallout: Bahamas Power & Light will rebate New Providence customers just $8.45 each under a settlement tied to over $610,000 in regulatory fines, with credits issued automatically by July billing. Aviation Safety Drive: Energy Minister JoBeth Coleby-Davis met CAAB leadership and airline stakeholders to expand into a Bahamas National Aviation Safety Task Force, aiming to strengthen safety, security and standardized operations. Education Staffing: DPM Chester Cooper said the government is moving to attract more Bahamian teachers and recruit 300 from Ghana, arguing leadership is needed to fill classroom gaps now. Banking Deal: Butterfield Group agreed to buy a 91.7% stake in CIBC Caribbean Bank for $1.8b, creating a larger regional banking group with operations including The Bahamas. Cruise & Travel Demand: Disney named its first female captain for the Disney Wish and outlined “Very Merrytime” holiday sailings; meanwhile, Tradewind Aviation is marketing small-aircraft scheduled service between South Florida and The Bahamas. Regional Business Climate: MSC introduced a peak season surcharge on Northern Europe–US/Puerto Rico/Bahamas cargo lanes starting Aug. 15. Local Economy & Lifestyle: The Agency opened a second Bahamas office in Abaco, citing growing demand for longer-term relocation, not just second homes.

Energy & Utilities: Shell has taken a final investment decision on a Bahamas LNG regasification terminal at Clifton Pier, with New Providence Gas set to build and operate the small-scale facility and Shell acquiring a 40% interest in the JV; the project is positioned as a “bridge” fuel under the government’s New Energy Era policy. Power Reliability: On Eleuthera, MP Clay Sweeting says a power purchase agreement with EA Energy—covering an 8.7MW solar facility and a 19.97MW LNG plant—should bring relief, though timelines remain unclear. Electricity Costs: Bahamas Power & Light will issue a one-time $8.45 rebate to eligible New Providence residential customers as part of a regulatory settlement, returning about $610,240.94 in fines via bill credits. Education & Labour: The government is pushing to recruit up to 100 Bahamians to fill a 300-teacher shortage, while also pursuing foreign hires; Education Minister Chester Cooper says “better days” are coming for teachers. Aviation Safety: Minister JoBeth Coleby-Davis is advancing a Bahamas National Aviation Safety Task Force after meetings with airline operators and aviation stakeholders. Finance & Investment: Prime Minister Philip Davis welcomed J.P. Morgan opening an officer in The Bahamas, framing it as confidence in the country’s economic and regulatory environment. Regional Integration: CARICOM associate membership expands as Martinique and French Guiana formally join. Cruise & Tourism: MSC will add a peak season surcharge on Northern Europe–US/Puerto Rico/Bahamas cargo lanes starting 15 August 2026.

LNG Energy Push: Shell and partner Focol have taken a final investment decision on a Bahamas LNG regasification terminal at Clifton Pier, with New Providence Gas set to build and run the small-scale facility to supply natural gas to the island. Power Costs Under Scrutiny: Former PM Hubert Minnis questioned the Davis administration’s LNG pricing and said his team’s earlier plan would have been cheaper, while on New Providence BPL customers are set to get a one-time $8.45 rebate tied to URCA regulatory fines—an amount critics say is far too small. Electricity Relief in Grand Bahama: GBPC says it has rolled out a new electricity rate structure, including a single fixed base rate for commercial customers and changes for large/industrial users. Aviation Safety & Oversight: Minister JoBeth Coleby-Davis met aviation stakeholders to expand a Bahamas Aviation Safety Task Force, aiming to tighten safety, security and emergency planning. Teacher Shortage Drive: Education Minister Chester Cooper promised “better days” for teachers and launched recruitment to fill up to 300 vacancies, including outreach to Bahamians and international candidates. Education & Tax Coordination: CARICOM tax administrators meet in Guyana to discuss future-ready, data-driven tax administration. Business Confidence Signal: PM Philip Davis welcomed J.P. Morgan’s move to open an officer in The Bahamas, calling it a vote of confidence. Regional Integration: Martinique and French Guiana formally joined CARICOM as associate members. Tragedy Hits Culture: The Bahamas grounded Flamingo Air after a fatal Cessna 402 crash that killed 10, including members of Da Pond Band.

Energy & Infrastructure: Former PM Hubert Minnis questioned the Davis administration’s New Providence LNG terminal cost, arguing earlier plans were far cheaper and that a public ownership model was previously discussed. Utilities & Consumer Relief: Bahamas Power and Light will issue a one-time $8.45 rebate to eligible New Providence residential customers after URCA settlement fines totalling $610,240.94. Aviation Safety & Oversight: Minister JoBeth Coleby-Davis met aviation stakeholders to expand a Bahamas Aviation Safety Committee into a national task force, aiming to strengthen ICAO-aligned safety and emergency planning. Education & Workforce: DPM Chester Cooper pushed efforts to attract more Bahamian teachers amid a 300-teacher shortage, while the ministry also seeks up to 100 Bahamians and continues recruitment to fill gaps. Energy Reliability in the Family Islands: Eleuthera MP Clay Sweeting said a power purchase agreement with EA Energy could help stabilize outages, including solar and LNG generation plans. Finance & Investment Signals: PM Davis welcomed J.P. Morgan’s expanded presence in The Bahamas, framing it as confidence in the country’s economic and regulatory direction. Regional Integration: CARICOM associate membership expanded as Martinique and French Guiana formally joined. Business & Trade: MSC announced a peak season surcharge on Northern Europe-to-US/Puerto Rico/Bahamas routes starting 15 August 2026. Real Estate: The Agency opened a second Bahamas office in Abaco, citing growing demand for longer-term relocation. Public Sector Health: Government will cover $200m for healthcare for about 30% of public officers, with a broader insurance plan planned for others. Aviation Incident Fallout: Reports continue to swirl around the Flamingo Air/Andros crash and related safety actions.

J.P. Morgan Expansion: Prime Minister Philip Davis welcomed the bank’s extended presence as CEO Adam TejPaul opened relocated offices at Goodman’s Bay, underscoring long-term trust and wealth management ties. Energy & Utilities: Shell and Focol have reached a final investment decision for a small-scale LNG regasification terminal at Clifton Pier, with Shell taking a 40% stake in New Providence Gas; meanwhile, BPL will issue a one-time $8.45 rebate to eligible New Providence residential customers after URCA settlement of $610,240.94 in regulatory fines, and GBPC rolled out lower, simpler electricity rates for Grand Bahama businesses and residents. Aviation Oversight: The Ministry of Energy, Utilities and Aviation met airline operators at LPIA to push standardized operations, emergency planning and passenger experience, as a probe continues into a Flamingo Air close call and the broader aviation response remains under scrutiny. Public Finance & Policy: Financial Secretary Simon Wilson said post-COVID revenue growth averaged 25% without new broad-based taxes, while a separate push argues politicians’ pay is too low and distorts governance. Healthcare Costs: Government will pay $200M to cover about 30% of civil servants’ healthcare needs, with a new plan offering public officers selectable coverage options. Real Estate & Growth: Luxury brokerage The Agency opened its second Bahamas office in Abaco, citing a shift from seasonal stays to longer-term relocation. Education Partnership: Opposition and the Bahamas Union of Teachers are pressing for public details of an agreement to recruit 300 teachers from Ghana, including costs and recruitment terms. Community & Culture: IXA and Marlene’s Obelisk immersive fashion-and-arts runway experience highlights the growing creative economy, while BIFF founder Leslie Vanderpool reiterated the festival’s goal of building a local film-making ecosystem.

BPL Power Crisis: Golden Gates residents say prolonged Bahamas Power & Light outages have pushed people to sleep in cars, spoil food and lose income, while MP Pia Glover-Rolle demands answers and a clear repair timeline. Regulatory Settlement: URCA says 72,000 BPL customers will receive rebates of $610,240.94 after the utility agreed to return regulatory fines tied to the 2018–2019 New Providence outages. Energy Disruption Impact: St. Kitts and Nevis links Strait of Hormuz shipping disruptions to higher energy prices and freight costs, warning of knock-on inflation across the Caribbean. LNG Investment Watch: Shell has taken final steps toward a Bahamas LNG regasification terminal, with a groundbreaking at Clifton Pier and government messaging that the project will deliver cleaner, more reliable energy. Education Staffing Deal: The Bahamas faces calls to publish details of an agreement to recruit 300 teachers from Ghana amid concerns about transparency and local educators’ treatment. Aviation & Safety Debate: Aviation reps challenge claims about North Andros crash response, arguing specialised disaster equipment matters; the dispute follows the Independence Day tragedy. Crime & Enforcement: Police seized nearly $300,000 in drugs at LPIA, and a man was shot dead on Father Callen Road. Business & Tourism: J.P. Morgan Trust Company opens new Goodman’s Bay offices, while Margaritaville at Sea announces a three-ship Nassau gathering in early 2027. Sports: Team Bahamas fell to Mexico 81–67 but advanced in FIBA Women’s AmeriCup qualifiers.

Power & Consumer Relief: URCA says 72,000 Bahamas Power and Light customers will get rebates after a settlement that returns $610,240.94 in regulatory fines tied to the 2018 Clifton Pier fire and 2019 New Providence outages, with credits appearing on this month’s bills. Political Pressure on Reliability: Golden Gates MP Pia Glover-Rolle has demanded BPL answers over prolonged outages, citing impacts on groceries, health and small businesses, as the dispute spills across party lines. Aviation Accountability: Aviation reps are challenging claims about the North Andros Independence Day crash response, arguing specialised aviation ambulances and fire capability are needed; a pilot also says public flight data points away from pilot error. Teacher Recruitment Transparency: The government faces calls to publish details of a Ghana deal to recruit 300 teachers, amid concerns from the Bahamas Union of Teachers and opposition about unresolved employment issues. Energy Investment: Shell has reached a final investment decision for a small-scale LNG regasification terminal at Clifton Pier, taking 40% in New Providence Gas Ltd to support lower-emissions, more reliable power on New Providence. Security & Enforcement: Police seized nearly $300,000 in suspected hydroponic marijuana at LPIA after finding two unattended suitcases from Toronto. Local Business Pulse: Bimini marina leaders say Independence weekend demand was very slow, with fewer boats than expected, while Nassau marinas also report sluggish activity.

Energy & Investment: Shell has reached a final investment decision for a small-scale LNG regasification terminal at Clifton Pier, acquiring a 40% stake in New Providence Gas and targeting first gas in Q1 2027 to support New Providence power generation. Power Reliability: URCA says it has secured a customer rebate settlement with Bahamas Power and Light, returning $610,240.94 in value to consumers after longstanding regulatory enforcement tied to major outages in 2018-2019. Outages Escalate: New Providence blackouts have sparked cross-party anger, with residents and MPs demanding explanations, repair timelines, and updates as BPL works through cable faults and related system issues. Aviation Safety Scrutiny: An experienced pilot reviewing public flight data on the Independence Day crash in North Andros says the pattern points away from pilot error and toward an engine failure. Education & Workforce: Minister Ginger Moxey urged BTVI graduates to be bold and build what’s missing, while the government continues pushing to recruit teachers abroad amid urgent staffing gaps. Travel Policy: Spain has named nine CARICOM countries, including The Bahamas, for visa-free short stays (up to 90 days in 180) for tourism and business. Community & Business: Sandals Foundation opened applications for 2027 grants up to US$80,000, and local business features highlighted Bahama Art & Handicraft’s push to keep authentic Bahamian-made inventory flowing.

Energy & Infrastructure: Shell Bahamas Power Company has taken a final investment decision and broken ground on a small-scale LNG regasification terminal at Clifton Pier, buying a 40% stake in New Providence Gas to help power New Providence with a lower-emissions fuel and improved reliability. Power Reliability: Bahamas Power and Light says extended New Providence outages are being driven by a cable fault along the Baillou Hill/Soldier Road corridor, with teams targeting full restoration within 24 hours and also addressing low-voltage damage from Monday night weather. Healthcare Payments: The National Health Insurance Providers Association warns there is still “no strategy” assuring providers they’ll be paid on time by the NHIA, calling timely payment essential to keep practices running. Local Business Outlook: Grand Bahama Chamber president Ralph Hepburn says the economy is “looking up,” with renewed focus on building critical mass as the island’s tourism and industrial revival gathers pace. Aviation & Tourism Confidence: A commentary argues the recent Andros plane crash demands a thorough aviation system review because the country’s tourism economy depends on public confidence. Community Funding: The Sandals Foundation opened applications for its 2027 grants, offering up to US$80,000 for education, conservation, health, economic empowerment and disaster readiness across Sandals/Beaches destinations including The Bahamas. Travel Access: Spain has added The Bahamas and eight other CARICOM countries to its visa-free list for short stays of up to 90 days in any 180-day period. Property Dispute: Police are accused of “rogue” interference in the escalating Old Bahama Bay dispute, with a formal complaint filed to the Police Commissioner. Education Pipeline: A call to action urges longer-term fixes to The Bahamas’ teacher shortage, warning that recruiting abroad or rehiring retirees won’t solve the underlying retention and compensation problems.