02202025 BUSINESS

Deficit ‘bust’: Half-year red ink close to $400m

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

PRIVATE sector executives and the Opposition yesterday argued that the Government will almost certainly “bust” its key fiscal targets after unveiling a near-$395m deficit for the 2024-2025 half-year.

Michael Pintard, the Free National Movement (FNM) leader, voiced scepticism that the fiscal year’s traditionally revenue-rich second half will “dig themselves and the Bahamian people out of the hole” created by a deficit which expanded by 52.6 percent or $136.1m compared to the same point in the prior fiscal year.

Despite narrowing the December gap between the Government’s revenue and spending to a $38.3m deficit, representing a 42 percent year-over-year decline, the Ministry of Finance’s report for that month still revealed that a total $394.8m worth of ‘red ink’ was incurred during the six-months to year-end December.

The half-year deficit, which will be a key focus in next week’s mid-year Budget presentation by Prime Minister Philip Davis KC, is more than five times’ greater than the $69.8m target for the 2024-2025 full-year.

The $394.8m, which measures by how much government spending exceeded its revenue income, is also significantly higher than the $258.7m deficit incurred at the 2023-2024 fiscal year’s mid-point.

And, while the Davis administration was able to narrow that year’s deficit via the $72m Budget surplus generated during that year’s second half, it will have to generate a sum more than four times’ greater if it is to hit 20242025’s target or come close. To hit it spot on, the Government will need to generate a massive $325m second-half surplus - some $253m higher than the prior year’s achievement.

Gowon Bowe, who headed the private sector’s Coalition for Responsible Taxation when VAT was introduced, told Tribune Business that the fiscal numbers presented for the first

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Government is

“infringing on constitutional rights” and consumer choice by directing new civil service hires to bank with an institution it holds an 82 percent majority stake in, a union chief blasted yesterday.

Kimsley Ferguson, the Bahamas Public Services Union’s (BPSU) president, told Tribune Business that the directive for public service recruits to open accounts with BISX-listed Bank of The Bahamas appeared to contravene freedoms of choice and

association while also being anti-competitive from a banking industry perspective.

Hitting out after Gowon Bowe, Fidelity Bank (Bahamas) chief executive, earlier this week revealed that “competition” concerns have arisen over this policy, he voiced concern that it was being driven by the Government who should be setting “a stellar example” to the rest of Bahamian society.

Pia Glover-Rolle, minister of labour and the public service, directed Tribune Business to the Ministry of Finance when approached for comment. She also produced an internal government memorandum, dating from almost nine years ago, which suggested the Bank of The

Bahamas policy originated in 2016 soon after the institution had enjoyed its first $100m taxpayer-funded ‘bail out’ rescue over its toxic commercial loans.

Simon Wilson, the then acting-financial secretary, in a March 18, 2016, note titled ‘New banking policy in regard to government new hires’, told all permanent secretaries and department heads “In its mid-year Budget statement, reference was made to the Government’s critical public sector reform plan, which included a move to eliminate all government payments

Royal Caribbean PI IPO to ‘slip’ into third quarter

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

ROYAL Caribbean yesterday duelled with a Bahamian entrepreneur over how many foreign construction workers are employed on its Paradise Island project while disclosing that its planned share offering will likely “slip”.

Philip Simon, the cruise line’s top Bahamian executive, told Tribune Business the “timeline has slipped a bit to the 2025 third quarter” for the longawaited initial public offering (IPO) to local investors as he pushed back against a widelycirculated video of several foreign construction workers at the Royal Beach Club site.

The video, filmed by Toby Smith, who is heading to the London-based Privy Council in his battle with the Government over the Crown Land lease for a site adjacent to the Royal

Beach Club, shows several workers identifying themselves as nationals from countries such as Mexico, Indonesia and Haiti. However, Mr Simon hit back with a photo that purports to show a much larger group of Bahamians working at the project site.

Mr Smith, asserting that the cruise line has “built a high wall comparable to [the Great Wall of China]” to mark the boundary between the Royal Beach Club and the Crown Land he is battling for, when contacted by this newspaper asserted: “They have a flock of foreign workers shouting how proud they are to be Mexican, Indonesian, Indian.”

Asking where the Bahamian workers were, he added: “The deputy prime minister [Chester Cooper] is touting the number of arrivals for cruise passengers. However, what he is not sharing with the Bahamian public is the

By NEIL HARTNELL and FAy SIMMONS Tribune Business Reporters

A CABINET minister yesterday said the energy sector regulator approved the use of non-competitive bidding for the outsourcing of Bahamas Power & Light’s (BPL) generation and electricity grid functions.

Jobeth Coleby-Davis, minister of energy and transport, effectively hid behind the Utilities Regulation and Competition Authority (URCA) when asked by Michael Pintard,

leader of the Opposition, whether the Government plans to use competitive bidding via the issuance of requests for proposal (RFP) in soliciting and awarding contracts related to BPL and wider energy sector reforms. Responding in the House of Assembly to questions posed by the Opposition, the minister said: “The Government of The Bahamas remains committed to transparency and fairness in all procurement activity including those related

PAGE B4

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

SHANENDON Cartwright, the MP for St Barnabas raised concerns about the SpaceX rocket booster landing in the Bahamas in Parliament yesterday, noting a lack of public information surrounding the environmental assessment for the initiative. Mr Cartwright said there is a “legitimate concern”

about the potential environmental risks of this undertaking and the Davis administration should take them seriously, especially as they promote climate justice internationally.

“Bahamians heard about this event that will be happening in the Commonwealth of The Bahamas, and all of the agitations and promotions, of what this would bring to the Commonwealth of The

WORKERS at the Royal Beach Club on Paradise Island.

Photo:Toby Smith

BAHAMIANS working on Paradise Island.

Photo:Royal Caribbean

IHarness AI but do not sacrifice human touch ROYE II KEITH

n an era where artificial intelligence (AI) is transforming industries at an unprecedented pace, companies are increasingly turning to AI-generated content to streamline operations, reduce costs and enhance efficiency. From marketing copy and social media posts to news articles and even creative storytelling, AI-powered tools such as ChatGPT, Jasper and Midjourney are revolutionising the content creation landscape. But as AI becomes more sophisticated, a crucial question arises: Will businesses still need human creativity?

AI has proven to be a game changer in content generation. With natural language processing (NLP) and machine learning models, AI can produce high quality text, generate compelling visuals and even

composing music. Companies leverage AI to draft e-mails, create blog posts and design advertisements within seconds - tasks that once required hours of human effort.

Technology giants such as Google, Microsoft and OpenAI continue to push

the boundaries of AI capabilities, making these tools more accessible and efficient. Automated content generation reduces overhead costs and allows businesses to produce content at scale. But, despite these advances, AI still has limitations that highlight the irreplaceable role of human creativity. While AI excels at pattern recognition, predictive text and data-driven insights, it struggles with true originality, emotional depth and cultural nuance. Creativity is more than just assembling words or images. It involves intuition, personal experiences and the ability to connect with audiences on an emotional level.

AI-generated content often lacks authenticity, a key factor in branding and story-telling. For example, while AI can write

Davis hails ‘aggressive’ anti-corruption reform

By FAY SIMMONS Tribune Business Reporter

PRIME Minister Philip “Brave” Davis said the Independent Commission of Investigations Bill, Protected Disclosures Bill and Ombudsman Bill are the “most aggressive and the most substantial accountability and anti-corruption reforms our country has seen”.

Speaking in Parliament yesterday, Mr Davis said the compendium of reforms will create “formidable” tools to combat corruption and wrong doing in public and private sector.

He noted that no individual is above the law and an independent body will be formed to investigate incidents involving public officers, members of parliament, security forces and Family Island administrators.

“Bahamians deserve representatives and public servants and institutions that work for them – so here is the principle we should consider foundational: no one is exempt from scrutiny, and no one is above the law,” said Mr Davis.

“The Independent Commission of Investigations Bill 2024 will, for the first time, establish an independent body to investigate

incidents involving serious breaches of the criminal law committed by officers of the security forces, and specified officials, including members of parliament, public officers, members of government entities, family island administrators and specified officials of other public bodies.”

He said the independent body will run separately from any government agency or security force and will investigate complaints made by the public against security forces and government officers.

“This Commission will be truly independent, not even a Prime Minister can direct this Commission. Nor can

Nearly 500 retired workers reengaged by government

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

ALMOST 500 retired civil servants have returned to work, Minister of Labour and the Public Service Pia Glover-Rolle revealed yesterday.

During the questionand-answer segment in Parliament yesterday, Opposition Leader Michael Pintard questioned Mrs Glover-Rolle on the number of retired public officers that have been reinstated to their duties and how many of these individuals were receiving full pension and regular pay.

Mrs Glover-Rolle responded that 491 retired employees were reengaged in the public service, representing 1.9 percent of the total number of public sector employees and 480 of them were receiving full pension and pay.

“491 retired public offices have returned to work,

which represents 1.9% of the total number of public servants. The second question, are these public officers receiving full pension and pay? The answer is that 480 are, as is required by law,” said Mrs Glover Rolle.

Opposition members and union officials have raised concerns about the rehiring of retired employees asserting that promotion and movement of younger civil servants was hindered by bringing back so many retirees in senior positions.

Last year, Bahamas Public Services Union’s (BPSU) president Kimsley Ferguson told Tribune Business the Government has “gone rogue” over rehiring civil service retirees and the Davis administration is “blatantly disregarding the policies and procedures” that govern the promotion and movement of civil servants.

“The government has gone rogue, blatantly disregarding the policies and procedures that speak to

the elevation and movement of staff in the public service,” Mr Ferguson charged. “The policies that speak to the reengagement of retired public officers are designed to protect the prospects of serving officers and to ensure that the same are not prejudiced.

“The only time a retired public servant should be reappointed is when the vacancy cannot otherwise be filled, and should be on temporary terms or on short-term contracts, and should only be done if it is necessary to fill an essential post for which no likely candidate is envisaged for some time to come.”

Mr Ferguson is not the only public sector union leader head to voice concerns over the practice of rehiring civil service retirees aged over 65. Deron Brooks, the Bahamas Customs Immigration & Allied Workers Union (BCIAWU) president, also told Tribune Business that it is blocking promotion possibilities for existing civil servants.

an engaging article based on existing data, it cannot experience emotions or form unique perspectives. This is particularly evident in fields such as journalism, literature and advertising, where originality and emotional intelligence are paramount.

Moreover, AI relies on existing information to generate new content. This means it can inadvertently reinforce biases present in the data it was trained on. Without human oversight, AI-generated content risks becoming repetitive, biased or even misleading.

Despite AI’s growing capabilities, human creativity remains indispensable for businesses seeking to differentiate themselves in a competitive market. Creativity is not just about generating content but about story-telling, strategic thinking and innovation.

any member of the Senate or House of Assembly serve on the Commission,” said Mr Davis.

“The Commission will be empowered to conduct investigations, including receiving complaints from citizens, gathering evidence, summoning and examining witnesses under oath, and determining whether criminal charges will be recommended to the Director of Public Prosecutions.

“What this means is that the public will now have the ability to make complaints to an Independent Commission, and will no longer have to rely on agencies to investigate themselves.”

Mr Davis explained that the Independent Commission of Investigations will conduct the same investigations and oversight an Integrity Commission would so there is no need to establish the latter as mandates would overlap leading to inefficiencies.

“The Independent Commission of Investigations

Rather than replacing human creativity, AI is becoming a powerful tool that enhances it. The future of content creation lies in a balanced collaboration between AI and human ingenuity. Businesses can leverage AI to handle repetitive tasks, analyse data and generate drafts, while human professionals refine, strategise and add emotional depth. The companies that will thrive in this new landscape are those that understand how to harness AI’s capabilities without sacrificing the human touch. Creativity is not just about efficiency; it is about meaning, connection and innovation. For that, businesses will always need human creativity. AI is reshaping the way businesses approach content creation, offering unprecedented speed and efficiency. However,

the essence of creativity - emotional intelligence, originality and cultural awareness - remains firmly in human hands. As AI continues to evolve, the most successful businesses will be those that integrate AI as a creative assistant rather than a replacement, ensuring that human ingenuity remains at the heart of innovation.

CABLE CHIEF MEETS WITH LEADING US DIPLOMATS

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

CABLE Bahamas’ top executive has met with senior US diplomats to explore potential areas of co-operation.

Franklyn Butler II, its chief executive and president, met with Kimberly Furnish, charge d’affaires at the US embassy in Nassau, and its economic officer, Chuck Bennet, to obtain insights into the US road map for technology and discuss how

these advances can help shape digital transformation in The Bahamas. “As we continue to think about our role in technology, it is essential that we continue to understand the evolving landscape from a US perspective,” said Mr Butler. “We cannot be innovative without remaining fully connected and engaged with the rest of the world, including the US, where the technological advances are being birthed.”

The conversation extended beyond

Abaco Chamber elects new Board

THE ABACO Chamber of Commerce has appointed a new Board to serve a two-year term through to 2027 following its annual general meeting on January 28, 2025.

The newly-elected officers then, on February 17, appointed Chantelle Sands as the Chamber’s president. She will be supported by Carl Archer Jnr, vice-president; DaQuez McDonald, secretary; and Brenda Jenoure, treasurer. Other directors include immediate past presidents, Daphne DeGregory-Maioulis and Ken Hutton, along with Ruth Saunders, Lauren Riviere and Dr George Charity.

Ms Sands, who joined the Chamber in 2023 as secretary, said: “I am honoured to be a part of this dynamic and diverse group of individuals dedicated to working together for the betterment of our island. Having collaborated for years with numerous business leaders across Abaco mainland and the surrounding cays, I plan to realign our initiatives with The Bahamas Chamber of

Commerce, local government and key stakeholders in both the public and private sectors.

“Our goal is to foster partnerships that address the critical needs of our business community. I

technology and into telecommunications, touching on broader possibilities for collaboration and strengthening the long-standing relationship between the two nations.

“I am grateful for the opportunity to spend some time with charge d’affaires Kim Furnish and her team,” added Mr Butler. “It was an important step in developing a strong, continued partnership where we ensure that The Bahamas is not left behind in the global technological landscape.”

deeply appreciate the board’s confidence in my leadership, and I thank the outgoing president, Daphne DeGregory-Miaoulis, and vice-president, Ruth Saunders, for their guidance and mentorship over the past years and I look forward to supporting our local businesses as Abaco continues its journey of recovery and growth.”

MINISTER SAYS URCA APPROVED BPL NON-COMPETITIVE BIDDING

FROM PAGE B1

to generation, transmission and distribution within the energy sector, and have been guided by the provisions of the Procurement and Electricity Acts.

“Where competitive bidding has been feasible, the Government has [issued] RFPs publicly intending to attract quality bidders. In instances where noncompetitive procurement was necessary, the decision was made in accordance with the Procurement and Electricity Acts, specifically under provisions that account for extenuating commercial and technical reasons.

“It’s important to note that BPL is required to provide comprehensive justification to the regulator, URCA, outlining the technical or commercial imperatives that necessitated non-competitive procurement processes.”

The issue of competitive bidding, or its absence, arose in relation to BPL because neither the outsourcing of the proposed 177 mega watts (MW) new power plant at Blue Hills to Bahamas Utility Holdings, a FOCOL subsidiary, as well as construction of the pipeline responsible for supplying liquefied natural gas (LNG) to it, nor the selection of Island Grid and Pike as Bahamas Grid Company’s partners, was seemingly put out to tender.

Mr Pintard, in a followup question, asked Mrs Coleby-Davis “to outline the extenuating circumstances that accounted for the lack of competitive bidding, both in terms of the generation side as well as the transmission and distribution”. To which the minister replied: “BPL would have provided this in detail to URCA, the regulator, who gave the approvals and any further details I can provide at a later date.”

Mrs Coleby-Davis also said all existing employment terms and benefits enjoyed by BPL staff will continue if they are “seconded” to Bahamas Grid Company, the entity created to take over upgrading New Providence’s electricity grid. Those who elect to join Bahamas Grid Company will have their salaries and benefits paid by that entity “upon the time of

their transfer” and once agreement is reached.

The minister, again responding to Mr Pintard, said she was also “unclear” about his assertion that the Davis administration is encountering “challenges” in concluding its agreement with Pike Electrical, the operating partner for Bahamas Grid Company.

The Opposition leader had pressed Mrs ColebyDavis to disclose any “present challenges” that might affect the two sides’ arrangement.

Mrs Coleby Davis said she is “unclear” on what issues Mr Pintard is referring to but added that arrangements are still being finalised and they will be tabled in Parliament once concluded.

“I am unclear of what the member is referring to as challenges. I am clear on that we’ve advised the public numerous occasions that we are continually dealing with legal agreements and concluding those matters. They’re concluded, there will be further tabling of those agreements, as we stated,” said Mrs Coleby Davis.

Mr Pintard also asked Mrs Coleby-Davis who will ultimately own the assets in the reconfigured group of companies. Mrs Coleby-Davis said Bahamas Power and Light (BPL) will “remain in the generation business” assisted by independent power producers and transmission and distribution assets will be owned by Bahamas Grid company in line with the 60/40 ownership structure.

“I believe that we clearly stated that BPL remains to be in the generation business, and we have independent power producers, which is an industry standard under a power purchase agreement, that is how we will provide in some of the power needed,” said Mrs Coleby Davis.

“As it relates to the transmission and distribution, I can advise that only New Providence transmission and distribution assets are being unbundled. With respect to Bahamas Grid, the assets will be owned in line with the company’s ownership structure, the 60/40 that was originally advised last year, and for the avoidance of any doubt, BPL remains to be

a partner in that ownership structure.”

Mr Pintard asked if an evaluation was done on the value of BPL’s assets and their potential for revenue generation and the price an independent power producer would have to pay to own those assets.

Mrs Coleby-Davis said a valuation was done on BPL’s assets and they were transferred to Bahamas Grid for a 40 percent ownership stake in the company.

“Neither the government or Bahamas Power and Light have the financial resources to conduct the necessary upgrades to the transmission and distribution. To directly answer the question, yes. An evaluation was conducted on BPL’s assets and their potential for revenue generation to determine fair value,” said Mrs Coleby-Davis.

“It is important to note that the evaluation clearly noted that many of BPL transmission and distribution assets on New Providence are 40 to 50 years old. As previously outlined, the transmission and distribution assets owned by BPL on New Providence has been transferred to Bahamas grid for a 40 percent ownership stake in the company.”

Mr Pintard also asked Mrs Coleby-Davis why no distinction or accommodation was made for vessels that are used for mixed purposes in the boat registration and water skiing and motorboat control amendment bills.

Mrs Coleby-Davis said basing the fee schedule on the purpose the vessel is being used for can lead to “ambiguity and misinterpretation” while basing the fee schedule on vessel length is more equitable.

“In each act, the type of craft is clearly outlined in the preliminary section. The schedule of fees is organised based on a boat’s length. It is important to note that successive administrations have followed that arrangement to adjust the schedule of fees based on the question posed, can result in ambiguity and misinterpretation,” said Mrs Coleby-Davis.

“Further a practical analysis of a possible adjustment based on the question posed can possibly result in the owners of larger boats paying less than the owners of smaller ones. In the final analysis, we believe in fairness and equity, the law should not be based on hypotheticals.”

FRANKLYN BUTLER II AND US CHARGE D'AFFAIRES

CHANTELLE SANDS

RESORTS WELCOME BOOST THROUGH SPACE TOURISM

By ANNELIA NIXON

RESORTS are looking forward to marketing the next scheduled SpaceX Falcon 9 rocket booster landing, with the confidence that it will boost guest arrivals through space tourism.

Located in an area providing a view of the landing, Kat Dubowitz, assistant general manager of Cape Eleuthera Resort and Marina, said due to the lack of big advertisements, not many guests knew about the landing. However, those that did gave the resort a great boost, especially in the marina. Mrs Dubowitz said, they had a “great” view of the landing and therefore will market them more in the future.

“So we’re way south,” Ms Dubowitz said. “We’re on the bottom south, right at the very end. And so we are in a peninsula. So our

sunset beach, which is west and the whole property on the west side had the view of the launch and then also of the landing.

“We had exceptional view of both, of the launch, the rocket going up and then also seeing the boom land and we heard everything. I think it was three sounds, three bangs. Our marina, we had lots of boats come in and I think that it’s really going to boost tourism for the whole of the sound here, from all of the hotels in this area. I think it’ll be great.

“I don’t think it was advertised a lot and I don’t think people realise actually how great the viewing was going to be. But if they plan on using the same spot for their barges and the way that they can launch the rockets from Florida, it’s definitely something that we will advertise for future SpaceX missions with The Bahamas, obviously.”

Davis hails ‘aggressive’ anti-corruption reform

not only meets but fully integrates the critical oversight functions that would otherwise fall under an Integrity Commission. This legislation ensures that all public officials including those in law enforcement and government — are subject to independent scrutiny, with full investigative powers, enforcement mechanisms, and accountability measures,” said Mr Davis.

“It was this government’s view that in a small nation like ours, establishing multiple commissions with overlapping mandates would be inefficient, duplicative, and unnecessary. Instead, we have taken a comprehensive and streamlined approach — creating a single, independent body with the authority to investigate misconduct across public institutions. This is not a diluted solution; this is a stronger, more effective one. While others may call for additional bureaucratic structures, we have delivered a commission with real power, real independence, and real capacity to root out corruption and misconduct at every level of governance.”

The Protected Disclosures

Bill which protects whistleblowers from punitive retaliation was also passed in Parliament yesterday.

Mr Davis said the bill will establish and strengthen safeguards for employees reporting wrongdoing, including unlawful or

unethical conduct, within the public and private sector.

“The provisions of the bill empower whistleblowers to report fraud or corruption or misconduct – by ensuring confidentiality, providing a pathway for disclosure, and protecting them from retaliation. We are confident that these reforms can improve both public and corporate governance in The Bahamas,” said Mr Davis.

“Indeed, establishing a clear mechanism for reporting and investigating wrongdoing can discourage and deter wrongdoing in the first instance. Not only will whistleblowers be protected from retaliation, but severe penalties will be imposed on anyone who obstructs the reporting process.”

Mr Davis said whistleblowers promote “integrity and fiscal and corporate accountability” and can help firms change their behaviour and promote trust among the public and stakeholders.

“Those who seek to stop wrongdoing are standing up for all of us and promoting integrity and fiscal and corporate accountability.

Whistleblower protections can reshape an organisation’s behaviour, can serve as an early warning system, can improve regulatory compliance, and can deepen stakeholder and citizen trust,” said Mr Davis.

“The protections in this legislation incentivise the alignment of public and private operations with both legal and ethical standards.”

Noting there wasn’t enough time to prepare and market for the first landing, general manager of Grand Isle Resort and Residences in Exuma Joe Eustice said guests staying at his establishment didn’t get the best view of the exercise but participated in watching online with piqued interest.

“We’re certainly keeping an eye on it,” Mr Eustice said. “We really couldn’t see anything, from the location of the resort, but I think it was a great success and we did have some of our guests share some social media or some virtual reports of stuff. So I think it’s a great opportunity. But we’ve just learned from this first one maybe we can look for better ways to market it, but it’s certainly a great thing for the country.”

“It was the first time, certainly we had many of our guests who were here,” Mr Eustice said. “We are quite busy. It’s our busy time of year. So we had many

guests who were interested in it and we had information in our front desk reception area and people are watching on their phones and tablets. But the more we can get ahead of the next launch and as we see what our viewing capabilities are, we begin to put it more into our social media feeds and more into our website if we can, so that people now are aware of it. They know it’s actually a thing that happens and it’s not just something we hope that works, but they know that it does work. I think people will be more attentive to seeing, if there’s a future opportunity for them to come to The Bahamas when one of these events is going to take place. You know, the first one, I think people wait and see a bit, and I’ll have to say that we were probably in that group, but I think what we saw was cause for us to continue to monitor the next launch and start making

preparations for how we can benefit our guests who are in house and possibly guests who would like to be in The Bahamas for this.

Mr Eustice added that given the location of the resort, guests did not get a clear view of the landing. However, in anticipation of the next scheduled landing he and his team are brainstorming ways to enhance the viewing experience for their guests, including outsourcing and as a result, extending business opportunities to others on the island.

“It’s the awareness and trying to decide how we might be able to find a line of sight if it continues to be in the Farmer’s Cay and Black Point area. It’s quite a distance away. But we’re trying to figure out if we transport people someplace that may have a better opportunity to view it or I looked for some sites that might be doing a live broadcast that we could

Ex-MP asks if PLP ‘flippant’ on climate after rocket landing

By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

A FORMER Pinewood MP questioned whether the PLP’s position on climate change was “flippant” given the permission given for Tuesday’s SpaceX booster rocket landing.

Reuben Rahming questioned how the Davis administration could allow SpaceX’s landing exercise given their position on climate change.

Deputy Prime Minister Chester Cooper said recently the landing would create “no conflict” over climate change.

Mr Rahming said: “Upon coming to office, the Davis administration took to the skies in a campaign against global warming, pollution, sea level rise in the name of getting cash to save the Bahamian way of life. After all, The Bahamas with about 300,000 adult population can never contribute to climate crisis like the industrial nations with populations in the million. This climate fight is the legacy cornerstone of the Davis administration.

“With the advent of SpaceX, did we just witness how flippant the Davis administration convictions are and self discrediting of their global climate crisis war and pronouncements? Joyfully, the Davis administration allowed in Bahamian waters near enough to our national parks and without legislative oversight, possibly the biggest climate crisis chain of events in our history in contradiction to all his global climate crisis speeches.”

He added: “According to the entity Eco Experts and its 2021 data, in one sixminute flight of the SpaceX ship, it will release 358 tons of CO2 into the air. They added for perspective, in six minutes it will take 4.6m

residents in Europe to produce the same. Further, the SpaceX heavy boosters will produce 2,683 tons of CO2 which is 7.5 times more CO2 into the air with other gases. This is 34.5mn persons worth of climate crisis gases into the air per six-minute event. Do you know the Davis administration has approved 20 more events in this year alone?”

Mr Cooper, before the launch said Bahamian consultants, the Department of Environmental Planning and Protection (DEPP), SpaceX and other agencies and organisations were involved in “extensive” environmental assessments. He added that the environment comes first. “We have studied it extensively with the environmental assessments,” Mr Cooper said. “SpaceX has provided support. They

have hired Bahamian consultants…and DEPP has done extensive analysis as it relates to this activity. Let me reassure you and the Bahamian people, in every investment, in every activity, we put the protections of the environment first. And we say to all foreign direct investors and others coming to The Bahamas to perform activities that unless the environmental thresholds are satisfied, there will be no such activity. And therefore I am satisfied that there is no conflict per se between the work that we’re doing on the international stage for climate change mitigation and this activity.” He added: “We have taken measurable precautions to safeguard our waters and marine ecosystems, working closely with experts to monitor environmental impact and ensure

stream into our TV system, so things like that to see if we can get a visual site that we can at least stream in some information about it so people can say that they were in The Bahamas when it happened and they saw it on a close circuit delivery at the resort.

Mr Eustice said they may reach out to other businesses to help schedule viewings.

“They would be vendors from the outside. They would be transfers, taxis, buses. We don’t have the equipment to handle that, and we don’t have an expertise. So it would bring other industry, more professionals, more vendors to come in and do that. We would hire that out. That’s not something we would do ourselves.

Both Mr Eustice and Mrs Dubowitz said they see a bright future for The Bahamas in the space tourism industry.

that our natural resources remain protected.”

Mr Rahming asked what is the benefit for our nation from the landings.

“When we give the power to the PLP, each time they label our archipelago sea and sand for sale,” Mr Rahming said. “Consider this. We are learning how the Baha Mar billion dollar rip off which gave the Chinese companies the largest stake in our number one industry. You witnessed the FTX billionaire and now the SpaceX billionaire. Can someone show us this deal? What is the above table benefit for our nation? Why did the sonic boom reach New Providence? Why was no legislation or regulation brought to the People’s House?”

While Mr Cooper said he believes each landing has regulations for fees upwards to $100,000, he added that the focus at that moment was “as an opportunity for the development of an industry”.

FROM PAGE B3

PHILIP “BRAVE” DAVIS

FNM deputy seeks answers on SpaceX’s environmental impact

Bahamas and ‘space tourism’. There is a legitimate concern about the impact of these exercises on the environment of The Bahamas,” said Mr Cartwright.

“There’s a legitimate concern, about its impact, because there are enough reports out there that indicate that there’s tremendous impact to the environment. The question becomes for a country that has said climate justice and the issue of climate change presents an existential threat to the people of the Commonwealth of The Bahamas. But yet we have engaged in an exercise, by all accounts and all reports and scientists, that impacts the environment.”

Wayne Munroe, Minister of National Security, countered that airplanes also have carbon emissions and the SpaceX rocket boosters are recovered and reused, a practice which is “climate resilient”.

He added that the partnership with SpaceX will also include a donation to the University of The Bahamas which will strengthen science, technology, engineering and mathematics (STEM) education in the country.

“The member for St Barnabas would have us stop airlift to The Bahamas because airlines emit carbon, which affects the environment and supply and while we would push for more stop over arrivals by aircraft, to use his

logic, we should not be doing that. There’s nothing to suggest that SpaceX will launch any fewer rockets, if he paid attention to the SpaceX model. Instead of having throwaway rocket boosters, they reused them, and so that, in and of itself, is a climate resilient event,” said Mr Munroe.

“In so far as climate resilience, the seriousness of that goes without speaking and the SpaceX recovery was a matter that the environmental impact was done. The platform is one that’s reusable, and so itself isn’t a throwaway item where you then have to use carbon emissions to create a new booster. And so, if one would have heard the talented young Bahamians who are involved

Senators ask Trump’s Labor Department nominee where her allegiance would lie

PUBLIC NOTICE

The public is hereby informed that Ms. Jacquelyn Jacquie Brown/Newton is no longer authorized to conduct any business or represent Ebenezer Methodist Church in any capacity.

Effective immediately, Ms. Jacquelyn Jacquie Brown/Newton is not authorized to act, communicate, or negotiate on behalf of Ebenezer Methodist Church.

For any official matters related to Ebenezer Methodist Church, please contact Rev. Milton Lightbourne at 393-2936.

By CATHY BUSSEWITZ Associated Press

MEMBERS of a Senate committee grilled Labor Secretary-designate Lori Chavez-DeRemer on Wednesday about her past support of pro-union legislation, her position on raising the federal minimum wage and her willingness to disagree with President Donald Trump.

Democrats sought assurances during the nominee's confirmation hearing that Chavez-DeRemer would protect private data held by the Department of Labor. Republican members of the Senate Committee on Health, Education, Labor & Pensions asked if she still backed a bill that would have made it easier for workers to unionize.

Union leaders have described Chavez-DeRemer, a former Republican member of Congress from Oregon and former mayor of a small city on the edge of liberal-leaning Portland, as a friend of organized labor. But workers' rights

in this program and the monies that are going to the University of Bahamas to encourage STEM education in this country, the two positions taken by St Barnabas really are incongruous.”

Mr Cartwright argued that there has been no “clarity” given to the public on the findings of the environmental assessment and a contingency plan in case of an accident was not disclosed.

“There’s been no real information and proper transparency as it relates to this relationship and the partnership and with potential fallout and what happens if, God forbid, there’s a catastrophe, there’s been nothing in that regard,” said Mr Cartwright.

advocates question if she would be able to uphold that reputation in an administration that has fired thousands of federal employees.

"We are moving toward an authoritarian society where one person has enormous power. Will you have the courage to say, 'Mr. President, that's unconstitutional, that's wrong?'" Vermont independent Bernie Sanders asked in his opening remarks.

The tension between the relatively pro-union record from her one term as a congresswoman and the current White House priorities had Chavez-DeRemer walking a fine line during the hearing, sometimes repeating answers or deflecting by saying she's not a lawyer and no longer serves as a House lawmaker. Appealing to both sides, she said she recognized the $7.25 an hour minimum wage hasn't been raised since 2009, but added, "What we don't want to do is shock the economy."

Sen. Bill Cassidy, a Republican from Louisiana who chairs the committee, said the Trump administration had an opportunity to enact a pro-American agenda. He said business owners were concerned about Chavez-DeRemer's past support in Congress of the Protecting the Right to Organize Act.

During her opening statement, Chavez-DeRemer described the proposed law as "imperfect." When Cassidy asked her if she still

“It seems that the government just want the Bahamian people to be happy that there’s some rockets going over the Commonwealth of The Bahamas, and that The Bahamas will be on the news from time to time that these rockets are landing in the Commonwealth of The Bahamas. But there’s been no real transparency on this issue, not on the environmental part.” He alleged that SpaceX has been investigated for polluting waters in Texas and has generated scrutiny from local environmentalists.

“SpaceX repeatedly polluted waters in Texas this year regulators found, a new report highlights SpaceX’s skyrocketing

supported it, she declined to give a yes or no answer.

"I do not believe the secretary of labor should write the laws. It would be up to Congress to write the law," she said.

She later said she supports states' "right to work" laws, which allow employees to refuse to join a union in their workplace. A provision of the PRO Act sought to overturn such laws.

Sanders, the committee's ranking member, asked Chavez-DeRemer if she would be a rubber stamp for the administration or stand with workers.

"If confirmed, my job will be to implement President Trump's policy vision," Chavez-DeRemer said. "And my guiding principle will be President Trump's guiding principle — ensuring a level playing field for businesses, unions, and, most importantly, the American worker."

Some political observers surmised that Trump picked Chavez-DeRemer to be his labor secretary as a way to appeal to voters who are members of or affiliated with labor organizations.

If confirmed, ChavezDeRemer would be in charge of the Department of Labor's nearly 16,000 full-time employees and a proposed budget of $13.9 billion in fiscal year 2025. She would set priorities that impact workers' wages, ability to unionize, and health and safety, as well as employers' rights to fire employees.

pollution problem, debris blast from SpaceX rocket launches faces environmental scrutiny…and of course, Bahamian scientists disappointed in lack of consultation prior to Space X booster landing, so, there is legitimate concern,” said Mr Cartwright.

State Minister for Environment Zane Lightbourne said the Department of Environmental Planning Protection (DEPP) will make the findings of their environmental impact assessment public.

“The Department of Environmental Planning Protection, has released information that they will make public the environment impact for the public’s viewing today,” said Mr Lightbourne.

But it's unclear how much power she would be able to wield as Trump's Cabinet moves to slash U.S. government spending and the size of the federal workforce. During his first month in office, the president froze trillions of dollars in federal funding and offered buyouts to most federal workers.

His administration last week started laying off nearly all probationary employees who had not yet gained civil service protection. Billionaire Elon Musk, who leads Trump's Department of Government Efficiency, has called for getting rid of entire agencies.

"It's quite possible that no matter what the secretary of labor stands for, the billionaire embedded in the Trump administration, who is so keen on destroying the institutions, will be interested in gutting the Department of Labor," said Adam Shah, director of national policy at Jobs with Justice, a nonprofit organization that promotes workers' rights.

In January, Trump fired two of three Democratic commissioners serving on the Equal Employment Opportunity Commission, a federal agency that enforces civil rights in the workplace. He also fired the acting chair of the National Labor Relations Board, Gwynne Wilcox, the first Black woman to serve as an NLRB member, as well as General Counsel Jennifer Abruzzo.

‘Rights infringed’ over BOB banking directive

FROM PAGE B1

by cheque and adopt a new policy of payments by ‘direct deposit’.

“In this regard, please be advised that with effect from April 1, 2016, all new hires (monthly or weekly) are required to open a bank account with the Bank of The Bahamas to facilitate salary payments. Please note that these persons will not be allowed to change bank accounts in which they are paid until they have become permanent and pensionable.”

No salary deductions were to be allowed until these new hires became permanent civil service employees, and Mr Wilson added: “Finally, the Treasury Department will be issuing a circular on the procedures and required documentation that should be submitted by new hires to facilitate the account opening at the Bank of The Bahamas.”

But Mr Bowe, contacted after Tribune Business obtained the 2016 memorandum, said Fidelity’s teams had been aware for around

18 months that the Bank of The Bahamas “policy” was now being vigorously enforced with new civil service hires informing them “they don’t even have a choice” but to bank with the BISX-listed institution.

Suggesting that the policy outlined in the 2016 memorandum has not been enforced “forcefully” or consistently until recently, the Fidelity Bank (Bahamas) chief replied “it was probably a year ago, and maybe more than that, consistently” when asked by this newspaper when he was made aware of what was occurring. “It wasn’t as forceful, as deliberate,” he explained. “We were seeing it in pockets in terms of my teams when they got into contact with government employees, and now it’s consistently. They [Fidelity staff] are being told what is being said to them [new civil service hires]. It probably started happening from 18 months ago.

“I think it is a policy choice. I’m not sure the policymakers themselves are in agreement with it... I don’t

know if this is a ‘policy’ formally implemented, but it’s certainly a practice that has been very forcefully put into action because we’re getting word saying they don’t even have a choice, and that’s of concern.”

Mr Bowe said he had first heard of the Bank of The Bahamas policy in around 2018, some two years after that memorandum was circulated within the Government, but “then it went silent” until recently. Besides facilitating salary payments, the policy when enacted in 2016 also ensured the BISXlisted institution gained new customers and deposits at a critical time when it was fighting for its financial survival.

The Government, via the Public Treasury and National Insurance Board (NIB), holds a collective 82.6 percent equity ownership in Bank of The Bahamas, which means that in effect it is directing new civil service hires to bank with itself. Mr Ferguson, the BPSU chief, described this as “biased and unfair” both because civil servants are being told “who

you are able to associate with” and banking competition is being undermined.

“People have constitutional rights, and Bank of The Bahamas may not be providing the best product in relation to banking for some people,” Mr Ferguson said. “It’s not like the persons were given an option to choose Bank of The Bahamas. It’s more so it was an imperative. I think that’s atrocious.

“Persons should be given the opportunity to choose the banking relationships that they view as being in their best interests. Whatever the situation, it infringes on the constitutional rights of persons to choose who they associate with. They must be allowed to choose the service provider and products they feel are best for them.

“I am also of the view that this infringes on banking rights in terms of the Government driving consumers to a particular bank instead of having a level playing field. Consumers should be allowed to select the best product for them.

ROYAL CARIBBEAN PI IPO TO ‘SLIP’ INTO THIRD QUARTER

reality. There are 13 island locations owned solely by the cruise lines competing with Nassau.

“Cruise lines no longer stay overnight in Nassau and have killed the Nassau nightlife downtown and where it used to thrive Overthe Hill.... What the cruise lines don’t say is where the money is spent, which foreign-owned businesses are receiving the revenue, what percentage of top-line revenue is going to the cruise lines and what incentives the cruise lines get and export out of the country.”

Mr Simon, though, pledged to Tribune Business that Royal Caribbean will “meet, match and exceed” the promises and commitments made to The Bahamas over the multimillion dollar Royal Beach

Club development. And he voiced dismay that Mr Smith had not reached out to him first over his concerns before circulating the video. “I wish he would come to contact me, like he agreed to do some time ago, if he had any queries, questions or concerns as opposed to standing on the outside looking in and promoting opinions as facts. That’s not the best approach,” Mr Simon, who is president and general manager for both the Royal Beach Club project and Royal Caribbean International Bahamas, said.

“If he wins his case we’ll be neighbours, and the last time I spoke to him was September 2023. I said we’d be happy to work with him and haven’t personally spoken to him since then. We’re very transparent in everything we’ve done. I always answer

the phone whenever it rings from anybody.

“We have put our commitments and obligations on the website. It’s our intent to meet, match them and exceed them. I think it’s a good thing we have employed Bahamian companies to construct our project as promised.” The Bahamian contractors include Island Site Development (ISD), and Mr Simon indicated that any queries over workforce composition and number of Bahamians employed should be addressed to them.

“We have hired only Bahamian companies,” he reiterated. “The companies working on site are Bahamian companies. I don’t think it would be appropriate or even legitimate for me to dictate how they run their businesses as long as

It appears that the reforms the Government is making are more beneficial for them rather than the banks and consumers.”

Mr Ferguson said the rationale cited for the policy in the 2016 memorandum, namely the elimination of cheque payment to improve payroll efficiency and the ease of doing business, has fallen away because all Bahamas-based financial institutions are able to facilitate electronic payments.

“I’m very concerned that this type of behaviour is coming from persons in this country who should be a stellar example,” the BPSU chief said of the Government. The practice of directing new civil service hires to open accounts with a certain bank has emerged just as the Davis administration has begun promoting plans to complete and enact antitrust legislation for The Bahamas.

It has repeatedly argued that a lack of competition in certain industries - which it has yet to identify - has contributed to high prices, inflation and the country’s cost of living woes. However, Mr Bowe told this newspaper earlier this week that, as the largest employer in

Paradise Island project is completed and ready to become fully operational.

they run it in accordance with the law and conform with the policies of the Government of The Bahamas.

“We said we’ll hire Bahamian companies and, when we run into the operations and management, we promised we’d have within our team 100 percent Bahamian employment.” Mr Simon said Royal Caribbean is now trying to complete employment contracts for the Royal Beach Club’s general manager, as well as management posts such as the director of engineering, human resources and finance - all of whom will be Bahamian.

He added that Royal Caribbean last week released “dozens of requests for proposals (RFPs)” for Bahamian companies “to be partners with us and come on board” when the

However, Mr Simon said the long-awaited initial public offering (IPO) of equity shares in the Royal Beach Club project to Bahamian investors will likely be delayed slightly due to the need to complete all the necessary regulatory processes.

“We had said the first quarter/second quarter of this year, but I think that’s slipping to the third quarter,” he told Tribune Business. “That’s just the wait time it takes for these matters. They have to run their course to be set up.

“We did sign a supplemental Heads of Agreement with the Government, we have to negotiate the shareholders’ agreement with the Government, and go through the approval process with the Securities Commission. It’s a process.

The Bahamas, the Government “has an obligation to promote competition” and consumer/personal choice as well as ensuring efficiency with its payment systems.

“They are encouraging new employees to bank with a particular bank so, for other banks, they are unable to obtain salary deductions and those people are unable to initially bank with their chosen bank,” Mr Bowe said then.

“That’s going to put restrictions on growth coming from new employees in the Government sector. That’s a policy government needs to consider as competition. It has a role as an employer, and can make decisions on payment efficiency and effectiveness, but as the largest employer in the country it has an obligation to promote competition.

“When it makes an internal decision as to who employees bank with or borrow from, that’s not competitive behaviour but is probably unintentional because it’s not considering engaging ownership participation and capital markets participation.” The Ministry of Finance could not be reached for comment before press time last night.

That timeline has slipped a bit into the third quarter.”

The last proposed Royal Beach Club IPO structure was for the cruise line to have a majority 51 percent ownership interest, with the remaining 49 percent equity stake to be split between the Government and Bahamian retail and institutional investors. The size of the Government’s interest was to be based on the value of the four Crown Land acres it was contributing to the project’s total 17 acres. Once the value of this land was appraised, the size and value of the collective equity raise from Bahamian investors was to be determined. It was thought the IPO would take a similar form to the Nassau Cruise Port offering, where investors acquired shares in an investment/mutual fund that will own the collective local interest in the Royal Beach Club.

Deficit ‘bust’: Half-year red ink close to $400m

six months “really don’t inspire confidence that the projected deficit is going to be met”. And he added that it was “not sufficient” for the Government to blandly promise it will make up the difference without providing evidence to back its assertion.

Pointing out that the Government’s original 2024-2025 Budget gave no hint of any “abnormal” revenue boost or spending reductions, he argued that “as fiduciary agents of the country” the Davis administration to “take the mature road and say maybe we were too aggressive or too ambitious in our original projections” and use the mid-year Budget to post revised deficit and other targets that are more realistic.

While “I won’t be the one saying it significantly destroys our fiscal affairs”, Mr Bowe emphasised that what appears to be a substantial deficit overshoot “warrants detailed explanation” and a plan for any corrective action the Government plans to take. This, he added would also be better received by external observers such as investors holding Bahamian government bonds and the international credit rating agencies.

And the Fidelity Bank (Bahamas) chief executive reiterated previous warnings for the Government not to be “penny wise and pound foolish” by slashing capital spending to reduce the deficit. This, he argued, would undermine investment in key infrastructure assets that provide the foundation for business development and economic growth. The Government has been steadily dripping out the monthly fiscal reports for October, November and December 2024 over the past week ahead of next Wednesday’s midyear Budget. Its decision to reveal the half-year deficit ahead of the Prime Minister’s announcement, observers suggested, appears to be part of a calculated PR strategy to get ahead of bad news and “take the sting out of the tail” for the Bahamian public.

Mr Pintard, though, yesterday asserted that the Government’s call for its fiscal policies to be judged solely on the full-year numbers will not hold up given the figures for the first six months and earlier. “They want us to forget what’s happened in the first quarter, second quarter and look at the end of the fiscal year, then judge them. We don’t buy that argument,” he told Tribune Business.

“We believe that the hole they have dug themselves and the Bahamian people into.... we believe they are going to bust their projections and have a widening deficit. The question is: What do they have to show for it?”

The Opposition’s leader was backed by the party’s finance spokesman, Kwasi Thompson, who told the House of Assembly that the latest monthly fiscal report releases have revealed “devastating” news with the “rapid deterioration” of the Government’s fiscal deficit - although December 2024 reverses that trend somewhat.

Asserting that the Government appears to have “abandoned any sense of fiscal discipline”, he questioned how the Government will make up the $325m difference between half-year performance and full-year target given that it traditionally spends more during the final six months of the fiscal year.

“These reports reveal devastating news on the state of the Government’s finances, each revealing a rapid deterioration of the Government’s fiscal deficit and an apparent abandonment of any sense of financial discipline as the Government’s deficit has now reached just under $400m at the mid-year,” Mr Thompson blasted.

“The Government’s Budget deficit is $69.8m. How will this be made up in the next six months? How will the Government make up [the difference] in six months? Especially during the time when traditionally you spend more in the second half of the year.

“We will, of course, have much more to say on this. We await the upcoming mid-term Budget report and hope it will contain the strong measures that this administration will take to curb its wasteful and extravagant spending and get its fiscal house in order.”

Pointing out that the Government has frequently missed the deadlines, enshrined in statute law, by which it is supposed to release monthly and other fiscal reports, Mr Thompson added: “The reports are to be published no later than four weeks after the end of the reporting period.

“This administration has operated in almost total breach of this statutory requirement with almost every single Budget report being published late. Does the Government have the information, but is it electing not to publish it in line with what the law requires?

“But what is particularly revealing is what we now see being played out over the last ten days or so. In rapid succession since last week, the Government – all

New Social Security chief contradicts claims that millions of dead people are getting payouts

By FATIMA HUSSEIN Associated Press

THE new head of the Social Security Administration said Wednesday that deceased centenarians are "not necessarily receiving benefits," contradicting claims that tens of millions of dead people over the age of 100 are getting payments from the agency.

Lee Dudek, the new acting SSA commissioner who was placed in the role by President Donald Trump, gave the clarification after Trump and billionaire adviser Elon Musk falsely claimed on social media and in press briefings that people who are 100, 200 and even 300 years old are improperly and routinely getting benefits.

While it is true that improper payments have been made, including some to dead people, the numbers thrown out by Trump and Musk are overstated and misrepresent Social Security data.

Here are the facts:

What has the Trump administration said about payments to centenarians?

of a sudden – have found it convenient to release the reports for October, November and December.”

However, the December fiscal report provides a glimmer of positive light that the Government will likely draw comfort from, as the monthly deficit declined by $27.6m year-over-year to $38.3m from $65.9m during the same month in 2023. “This outcome reflected a $67.2m (36.2 percent) growth in revenue receipts to $253.1m, which exceeded the $39.6m (15.7 percent) increase in spending to $291.3m,” the Ministry of Finance said. “Of the $212.8m in tax collections, taxes on use and permission to use goods were higher by 91.2 percent ($12.8m), due to collections of communication levies.

“Taxes on international trade and transactions gained 74.8 percent ($31.2m), benefiting from recent increases in departure taxes and the introduction of the tourism sustainability levy. VAT improved by 17.8 percent ($15m) on account of higher collections associated with goods and services and realty transactions.

“Non-tax revenue aggregated $40.3m for a 69.3 percent ($16.5m) boost over the prior year. The yield from other non-tax revenue rose sharply, by $12.8m, primarily reflecting

receipt of rental ($12.1m) and dividend payments ($3.3m).”

As for government spending, the Ministry of Finance added:

“The $271.7m in recurrent outlays for the month represented an increase of 18.4 percent ($42.3m) from the corresponding period in the prior year. Public debt interest costs were higher by 56.6 percent ($25.4m), of which 56.2 percent was paid to non-residents.

“Other payments rose by 30.6 percent ($5) due to transfers to non-financial public corporations. Use of goods and services expanded by 28percent ($11.6m), primarily associated with payments for rent, utilities and other various services. Capital expenditures narrowed by 12.1 percent ($2.7m) and were almost entirely for the acquisition of non-financial assets.”

Turning to the Government’s debt liabilities, the Ministry of Finance added:

“During the review month, central government’s debt outstanding decreased by an estimated $11m. The $453.8m in proceeds from borrowings was primarily derived from foreign currency sources (56.8 percent). Of the $464.9m in debt repayment, 65 percent was in foreign currency.”

On Tuesday, Trump said at a press briefing in Florida that "we have millions and millions of people over 100 years old" receiving Social Security benefits. "They're obviously fraudulent or incompetent," Trump said. "If you take all of those millions of people off Social Security, all of a sudden we have a very powerful Social Security with people that are 80 and 70 and 90, but not 200 years old," he said. He also said that there's one person in the system listed as 360 years old. He repeated the false claims while speaking at a Miami conference of international investors and billionaires Wednesday, despite the SSA commissioner's earlier statement. Musk, whose Department of Government Efficiency is seeking to root out fraud, waste and abuse, issued a slew of posts on his social media platform X on Monday night, including: "Maybe Twilight is real and there are a lot of vampires collecting Social Security" and "Having tens of millions of people marked in Social Security as "ALIVE" when they are definitely dead is a HUGE problem. Obviously. Some of these people would have been alive before America existed as a country. Think about that for a second …"

So are tens of millions of people over 100 years old receiving benefits?

No.

Part of the confusion comes from Social Security's software system based on the COBOL programming language, which has a lack of date type. This means that some entries with missing or incomplete birthdates will default to a reference point of more than 150 years ago. The news organization WIRED

first reported on the use of COBOL programming language at the Social Security Administration.

Additionally, a series of reports from the Social Security Administration's inspector general in March 2023 and July 2024 state that the agency has not established a new system to properly annotate death information in its database, which included roughly 18.9 million Social Security numbers of people born in 1920 or earlier but were not marked as deceased. This does not mean, however, that these individuals were receiving benefits.

The agency decided not to update the database because of the cost to do so, which would run upward of $9 million.

A July 2023 Social Security OIG report states that "almost none of the numberholders discussed in the report currently receive SSA payments." And, as of September 2015, the agency automatically stops payments to people who are older than 115 years old.

What does the acting Social Security commissioner say about that?

Dudek, who was named acting chief of the Social Security Administration after the resignation of Michelle King, issued a news release Wednesday reiterating the agency's commitment to

transparency. The last lines of the note acknowledged recent reporting about people older than 100 receiving benefits from the agency.

He seemed to confirm that confusion had arisen because of the default settings on the database.

"The reported data are people in our records with a Social Security number who do not have a date of death associated with their record. These individuals are not necessarily receiving benefits," he said.

"I am confident that with DOGE's help and the commitment of our executive team and workforce, that Social Security will continue to deliver for the American people," Dudek said.

How big of a problem is Social Security fraud?

A July 2024 report from Social Security's inspector general states that from fiscal years 2015 through 2022, the agency paid out almost $8.6 trillion in benefits, including $71.8 billion — or less than 1% — in improper payments. Most of the erroneous payments were overpayments to living people.

In addition, in early January, the U.S. Treasury clawed back more than $31 million in a variety of federal payments— not just Social Security payments— that improperly went to dead people, a recovery that former Treasury official David Lebryk said was "just the tip of the iceberg."

The money was reclaimed as part of a five-month pilot program after Congress gave the Department of Treasury temporary access to the Social Security Administration's "Full Death Master File" for three years as part of the omnibus appropriations bill in 2021.

The SSA maintains the most complete federal database of individuals who have died, and the file contains more than 142 million records, which go back to 1899, according to the Treasury.

Treasury estimated in January that it would recover more than $215 million during its threeyear access period, which runs from December 2023 through 2026.

A SOCIAL Security card is displayed Oct. 12, 2021, in Tigard, Ore.

Photo:Jenny Kane/AP

Trump seeks greater control of independent regulators with his new executive order

By JOSH BOAK Associated Press

PRESIDENT Donald Trump is moving to give the White House direct control of independent federal regulators such as the Securities and Exchange Commission, the Federal Trade Commission and the Federal Communications Commission.

The executive order that Trump signed Tuesday gives the president more power to shape the oversight of the financial system and lay out criteria for transportation safety, basic consumer protections and wireless, broadcast, satellite and broadband communications.

It is part of a broader push by the Trump administration to assert greater authority over the government, possibly limiting the spending of congressionally approved funds in ways that could set up lawsuits and lead courts to weigh in.

Past administrations saw public benefit in having regulators that could operate in the long-term interests of the country without the daily machinations of politics. Presidents could exercise informal control by whom they appointed to lead the agencies without necessarily requiring those agencies to submit strategic plans to the White House and lose access to funding initiatives as the order lays out.

But the Trump White House maintains that independent regulators could undermine the president's agenda and the will of the voting public.

"For the Federal Government to be truly accountable to the American people, officials who wield vast executive power must be supervised and controlled by the people's elected President," said the order signed by Trump.

The move generated criticism that it could ultimately lead to abuses by the Trump administration.

"This action will serve only to politicize and corrupt independent agencies, which will now be subject to the political whims of those in power," said Alexandra Reeve Givens, CEO of the nonprofit Center for Democracy & Technology. "For a century, these agencies have been independent for a reason — Congress needs these

experts to interpret the laws it passes, and to initiate investigations and enforce those laws without political favoritism."

Independent agencies go back to 1887 with the creation of the Interstate Commerce Commission, which initially existed to deal with railroad monopolies and the rates they charged. Multiple other regulators were built on this format and operated through presidential appointments and congressional oversight.

Roger Nober, a professor at George Washington University and director of the GW Regulator Studies Center, called the order "very significant." The rule goes beyond existing requirements that regulations with an economic impact of more than $100 million or more go through a review by the White House Office of Management and Budget.

"The intent of this is to significantly scale back the independence of independent regulatory agencies," said Nober, who was previously chair of the U.S. Surface Transportation Board, an independent regulator, during George W. Bush's presidency. Nober stressed that he could understand why Trump might wish to bring a stock market regulator such as the SEC under greater White House control. But, he said, "we'll have to see if this is the right approach in the long run to make independent agencies more politically responsible."

The executive order covers the regulatory responsibilities of the Federal Reserve, but it would specifically keep its independence on setting short-term interest rates that can influence inflation rates and employment levels.

A Fed spokesperson declined to comment Wednesday on the executive order.

The order may have only a limited practical effect, at least in the short term. The Fed's vice chair for supervision, Michael Barr, a Biden appointee, said last month that he would step down Feb. 28. The Fed also said it would pause any major rulemaking until Barr's successor is confirmed.

Peter Conti-Brown, a finance professor and Fed historian at the University

of Pennsylvania's Wharton Business School, said the executive order represents a major change in the way the Fed and White House interact.

Currently, the White House — with the Senate's consent — fills the top regulator post at the Fed and can coordinate with that regulator. But the order "would substantially alter this status quo by formalizing subordination, not coordination, between the White House and the Fed."

One of the ultimate goals of Trump's new order might be a court challenge, said Ian Katz, an analyst at the policy research firm Capital Alpha.

PRESIDENT Donald Trump speaks at Mar-a-Lago in Palm Beach, Fla., Tuesday, Feb. 18, 2025. Photo:Pool/AP

Judge restricts defendants after witness tampering allegations surface in Minnesota food fraud case

MINNEAPOLIS

Associated Press

A FEDERAL judge on Wednesday ordered defendants in all upcoming cases stemming from a major COVID-19 pandemic fraud case in Minnesota to stay away from her courtroom after allegations of witness tampering surfaced in the trial of the alleged ringleader. Prosecutors say the scheme stole $250 million from a program meant to feed children.

Aimee Bock, who founded and led the nowdefunct nonprofit, went on trial this month with Salim Said, a former co-owner of Safari Restaurant in Minneapolis, for their alleged roles in the scheme. They're

among 70 defendants charged in the investigation. Many of them have already pleaded guilty. The others are being tried in batches.

U.S. District Judge Nancy Brasel imposed the restrictions a day after Assistant U.S. Attorney Joe Thompson made the allegation. He said in court after testimony ended Tuesday that the alleged attempt was especially troubling in light of an attempt in June to bribe a juror in the first trial of defendants in the sprawling fraud case, which centers on a group called Feeding Our Future.

Prosecutors have called it one of the country's largest pandemic-related fraud cases. The first trial was marred by an alleged

LABOR UNIONS CALL ON TRUMP TO BOOST US SHIPBUILDING AGAINST INCREASING CHINESE DOMINANCE

By JOSH BOAK Associated Press

THE heads of four major labor unions on Wednesday called on President Donald Trump to boost American shipbuilding and enforce tariffs and other "strong penalties" against China for its increasing dominance in that sphere.

The presidents of the United Steelworkers, International Brotherhood of Electrical Workers, International Brotherhood of Boilermakers and International Association of Machinists and Aerospace Workers argue that China's efforts have hurt American workers and national security.

In the letter obtained by The Associated Press, they urged Trump to "impose tough penalties against vessels built according to the plans, policies, and actions of the Chinese Communist Party and to adopt complementary policies that rebuild America's shipbuilding capacity and workforce."

Last year under President Joe Biden, the unions filed a petition seeking to address China's shipbuilding under Section 301 of the 1974 U.S. Trade Act, hoping to start a process by which tariffs and other measures could be enacted. The letter notes China manufactured more than 1,000 ocean-going vessels in 2023, while the United States made fewer than 10 ships. It adds that the Chinese shipbuilding industry received more than $100 billion in government support from 2010 to 2018, such that Chinese shipyards accounted for the majority

of worldwide orders last year.

"As a shipyard worker myself, out of Bath Iron Works in Maine, I have seen firsthand the crippling impacts of China's predatory actions on our domestic shipbuilding industry," Brian Bryant, the machinists and aerospace workers union president, said in a separate statement. "For decades, we've seen everything from layoffs to shipyard closures to atrophy of our domestic shipbuilding industrial base. Trump has made control of the Panama Canal and resetting the global terms of trade with tariffs a key priority. But many of his concerns have been directed at U.S. allies such as Canada, Mexico and the European Union, while he has imposed an additional 10% tariff on imports from China due to its role in making the opioid fentanyl. The White House has said it is considering all available options to push back against China's practices in the maritime, logistics and shipbuilding sectors.

In January, Trump floated the possibility of more shipbuilding in an interview with Hugh Hewitt, the conservative radio talk show host.

"We don't build ships anymore," Trump said. "We want to get that started. And maybe we'll use allies, also, in terms of building ships. We might have to." In a Fox News Channel interview that aired Tuesday night, Trump noted the decline in American shipbuilding and indicated he wanted that to change.

attempt by some defendants and people linked with them to bribe a juror with a bag of $120,000 in cash. The juror went straight to police. "Here we find ourselves again with people trying to corrupt our process," Thompson told the judge. Thompson said a defendant who's slated for trial later this year, Abdinasir Abshir, approached a witness in the courthouse hallway while testimony was underway Tuesday and asked to speak with him in a bathroom. That witness, Sharmake Jama, the former owner of Brava Cafe in Rochester, pleaded guilty earlier along with four family members and agreed to testify against Bock and

Said. Jama told his lawyer about the approach, who in turn informed the U.S. Attorney's Office. "I just want to be clear — witness tampering is a crime and a serious one," Brasel said. "And that's what we are trying to prevent here. I don't know what occurred here today but I am going to find out."

Brasel said she would interview Jama about the incident along with a federal marshal who witnessed some of the conversation, and one of the prosecutors. In her order Wednesday, Brasel said all defendants charged in the upcoming cases must contact her chambers 24 hours in advance if they want to attend the current or other

trials. This would allow the court to set up an overflow viewing location on a different floor of the federal courthouse in Minneapolis. She prohibited those defendants from coming to the floor where her courtroom is located.

Abshir's attorney, Craig Cascarano, said Wednesday that his client never intended to intimidate any witness and didn't even know that Jama was a potential witness. He said Abshir recognized him

during a chance encounter in the hallway and just wanted to express his condolences over the recent deaths of Jama's mother and sister.

The judge on Tuesday ordered Said and Bock not to speak with any witnesses or co-defendants in the case. The two are not in custody, and Brasel threatened to jail them if they violated the order.

APPLE UNVEILS A SOUPEDUP AND MORE EXPENSIVE VERSION OF ITS LOWEST PRICED IPHONE

By MICHAEL LIEDTKE AP Technology Writer

APPLE has released a sleeker and more expensive version of its lowest priced iPhone in an attempt to widen the audience for a bundle of artificial intelligence technology that the company has been hoping will revive demand for its most profitable product lineup.

The iPhone 16e unveiled Wednesday is the fourthgeneration of a model that's sold at a dramatically lower price than the iPhone's standard and premium models. The previous bargain-bin models were called the iPhone SE, with the last version coming out in 2022.

Like the higher-priced iPhone 16 lineup unveiled last September, the iPhone 16e includes the soupedup computer chip needed to process an array of AI features that automatically summarize text, audio and create on-the-fly emojis while smartening up the device's virtual assistant, Siri. It will also have a more powerful battery and camera.

All those upgrades will translate into a higher starting price for an iPhone 16e at $600, a 40% increase from $430 for the last iPhone SE. But iPhone 16e will be more affordable than the cheapest standard iPhone 16 at $800. The new phone will be available in stores Feb. 28, but can be pre-ordered beginning Friday.

"We're so excited for iPhone 16e to complete the lineup as a powerful, more affordable option to bring the iPhone experience to even more people," said Kaiann Drance, an Apple vice president in charge of promoting a device lineup that accounts for more

than half of the company's revenue.

But Apple is also trying to balance its desire to offer a more affordable iPhone that will lure more people into its sphere of product against its self interest in maximizing its profits from selling higher price products, according to Forrester Research analyst Dipanjan Chatterjee.

"The problem with a lower-end product in a luxury portfolio is that you want it to be good but not so good as to cannibalize the crown jewels," Chatterjee said.

Although Apple has been hyping its foray into AI since last June, the complete set of features still haven't been released in the U.S. and the technology still isn't even available in some parts of the world.

The delays in making the iPhone's AI — dubbed "Apple Intelligence'" — more widely available through free software updates dinged the Cupertino, California, company during the past holiday when sales of the device dipped slightly from their 2023 levels.

Apple has primarily been losing the ground in China, where it hasn't yet specified when the iPhone's AI technology will be available. But the company recently struck an AI partnership with Alibaba in China that could pave the way for the technology coming to iPhones in that country this spring.

Besides being able to handle AI for the first time, the iPhone 16e has a different look from previous SE models. It boasts a 6.1inch display screen, slightly larger than the 4.7-inch display on SE model and no longer has a home screen button like the SE had.

Trump administration orders halt to NYC toll meant to fight traffic and fund mass transit

By ANTHONY IZAGUIRRE and PHILIP MARCELO Associated Press

PRESIDENT Donald Trump's administration on Wednesday ordered a halt to congestion pricing tolls in New York City, which thin traffic and fund mass transit by making people pay to drive into Manhattan's core.

Launched on Jan. 5, the city's system uses license plate readers to impose a $9 toll on most vehicles entering Manhattan neighborhoods south of Central Park. In its early days, transit officials said the toll has brought modest but measurable traffic reductions.

The federal government has rescinded its approval of the program, U.S. Transportation Secretary Sean P. Duffy announced Wednesday, calling the toll's financial burden "a slap in the face to working class Americans and small business owners."

The Federal Highway Administration will work with the state on an

"orderly termination of the tolls," according to the statement.

Within minutes of the announcement, the Metropolitan Transportation Authority, a state agency that runs the New York City subway and other public transit, filed a federal lawsuit to keep congestion pricing alive.

Gov. Kathy Hochul, a Democrat, said the toll program would continue while the lawsuit plays out.

Trump takes a victory lap

The president, whose namesake Trump Tower penthouse and other properties are within the congestion zone, vowed to kill the plan as soon as he took office. The Republican declared victory on his social networking site Truth Social after the Transportation Department announcement. "CONGESTION PRICING IS DEAD. Manhattan, and all of New York, is SAVED." Trump wrote, adding, "LONG LIVE THE KING!" The White House later posted an image of Trump wearing

NOTICE

International Business Companies Act (No. 45 of 2000)

Plenum Ars Limited (IN VOLUNTARY LIQUIDATION)

a crown in front of the New York skyline.

Hochul was quick to fire back.

"New York hasn't labored under a king in over 250 years," she said at a news conference at Grand Central Terminal, one of the city's train hubs. "We sure as hell are not going to start now."

A divisive plan for gridlock

Similar toll programs for getting people into public transit by making it costprohibitive to drive have long existed in other global cities, including London, Stockholm, Milan and Singapore, but the system had never been tried before in the U.S. New York intends to use the money from tolls to issue bonds that would fund billions of dollars in improvements and repairs for the city's creaky and cash-strapped transit system, which carries some 4 million riders daily.

As in other cities, New York's congestion fee varies depending on the time and the size of the vehicle. Trucks and other large automobiles pay a higher rate, and the fee goes drops to $2.25 for most cars during the quieter overnight hours — less than the cost of a subway ride.

buses and less funding for our transit system," said state Sen. Andrew Gounardes, a city Democrat.

Some Democratic leaders were uneasy about supporting the toll

The tolling plan was approved by New York lawmakers in 2019, but stalled for years awaiting a federal environmental review during Trump's first term before being approved under the Biden administration.

The toll survived several lawsuits trying to halt it before its launch. Democratic Gov. Phil Murphy of neighboring New Jersey fought it in court and wrote a letter to Trump on Inauguration Day imploring him to kill the program.

Hochul also had misgivings. Last June, she abruptly halted the tolling system's planned launch, citing concerns about its impact on the local economy. The Democrat then revived the toll in November following Trump's election, but reduced the toll for passenger vehicles from $15 to $9. Since then, she has lauded it as a win for the city and discussed the issue multiple times with the president.

Creditors having debts or claims against the abovenamed Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 14th day of March A.D., 2025. In default thereof they will be excluded from the beneft of any distribution made by the Liquidator.

Dated the 20th day of February, A.D., 2025.

Gustaaf A. Meijers Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

HOLDINGS LTD

N O T I C E IS HEREBY GIVEN as follows:

(a) PLUSPETROL HOLDINGS LTD is in dissolution under the provisions of the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 18th day of February 2025 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Marie Ximena Storni, of 1011PZ Amsterdam, The Netherlands

Dated the 20th day of February, 2025.

NOTICE IS HEREBY GIVEN that in accordance with Section 138 (4) of the International Business Companies Act 2000 (No. 45 of 2000) Plenum Ars Limited is in Dissolution.

The Dissolution of the said Company commenced on the 19th day of February, 2025 when the Articles of Dissolution were submitted to and registered with the Registrar General in Nassau, The Bahamas.

The sole Liquidator of the said Company is Bowe Directors Ltd. and can be contacted at Suite No. 1, Building No. 4, Caves Village Business Center, Caves Village, P.O. Box SP-64293, Nassau, Bahamas. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before 13th day of March 2025.

Bowe Directors Ltd. Liquidator

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company N

Creditors having debts or claims against the abovenamed Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 14th day of March A.D., 2025. In default thereof they will be excluded from the beneft of any distribution made by the Liquidator.

Dated the 20th day of February, A.D., 2025.

Marie Ximena Storni Liquidator 1011PZ Amsterdam The Netherlands

The tolling system has been divisive, with most opposition coming from suburban commuters or from those living in areas not well-served by the subway system.

Transit advocates and environmentalists heralded it as an innovative step to reduce air pollution and speed up traffic for vehicles that truly need to be on the road like delivery trucks, police cars and other first responders.

"By blocking this successful policy, Trump will be directly responsible for more traffic, more crashes, more polluted air, slower

New York City's embattled Mayor Eric Adams, also a Democrat, was once a supporter of congestion pricing but has more recently punted on the subject, appearing unwilling to wade into a brewing fight between Trump and the state.

"If the federal government has the authority to do something within their powers, then we can't sit back and complain about it, because we do things within our powers," Adams told reporters last month when asked about Trump potentially canceling congestion pricing.

EXXONMOBIL EQUATORIAL GUINEA (OFFSHORE) REGION LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) EXXONMOBIL EQUATORIAL GUINEA (OFFSHORE) REGION LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 18th day of February 2025 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Gustaaf A. Meijers, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.

Dated the 20th day of February, 2025.

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

SIGNS, including some advising drivers of congestion pricing tolls, are displayed near the exit of the Lincoln Tunnel in New York, Wednesday, Feb. 19, 2025.

Photo:Seth Wenig/AP

Trump and Musk say they like working together and will keep it at. Will it last?

By WILL WEISSERT Associated Press

IT'S been a burning political question for weeks: How long will President Donald Trump — who doesn't like sharing the spotlight — be able to do just that with Elon Musk, a billionaire also overly fond of attention?

In a joint Fox News Channel interview that aired Tuesday, both insisted they like each other a lot and would stick with their arrangement despite what Trump said were attempts by the media to "drive us apart."

At times, Trump sat back as Fox News Channel's Sean Hannity heaped praise on Musk in an attempt to counteract a Democratic narrative that he's a callous and unelected force out to destroy the government and upend civil society through sweeping cuts being imposed by the Department of Government Efficiency.

There were also moments when Trump and Musk were all but finishing each other's sentences, as if they were part of a buddy comedy and not the president and his most powerful aide.

Here's a look at how the friendship formed, what it means for them both and why Trump's history suggests it may not last:

They weren't always friends

Trump told Hannity that he wasn't really acquainted with Musk until recently, saying, "I knew him a little bit through the White House originally" but didn't know him before that.

Musk was born in Pretoria, South Africa, and became a U.S. citizen in 2002. He's the world's richest man, with a net worth exceeding $400 billion, according to the Bloomberg Billionaires Index. His vast business holdings include X, Tesla and SpaceX, as well as the satellite internet service provider Starlink.

Musk said he voted for Democrat Joe Biden in 2020 and Democrat Hillary

Clinton in 2016. Musk has recently said that Tesla was being unfairly targeted by regulations in its original home state of California. Musk and the company's headquarters moved to Austin, Texas in 2021, and he increasingly soured on Biden with the then-president's embrace of unions that clashed frequently with Tesla.

In the past, Musk butted heads with Trump over climate change. They feuded as recently as July 2022 — with Trump calling Musk a "bulls—- artist." He also suggested then that Musk came to the White House during his first term seeking federal subsidies for "electric cars that don't drive long enough, driverless cars that crash, or rocketships to nowhere."

"I could have said, 'drop to your knees and beg,' and he would have done it," Trump previously said on his social media site.

Musk originally backed Ron DeSantis in last year's Republican presidential primary, even helping the Florida governor launch his White House bid in a glitchmarred presentation on X.

But Musk met with Trump at his Florida residence last March and endorsed the then-candidate in July, after the first assassination attempt.

"I was going to do it anyway, but that was a precipitating event," Musk told Hannity.

Musk appeared at his first Trump rally in early October, and his super PAC spent around $200 million to boost the Republican's campaign. X also amplified messaging — and often disinformation — promoted by Trump and his "Make America Great Again" movement.

The pair spent election night at the president's Mar-a-Lago club. Less than a week after securing victory, Trump announced that Musk would lead DOGE, the new push to shrink government, alongside former GOP presidential candidate Vivek Ramaswamy, who left the commission by Inauguration Day.

NOTICE

NOTICE is hereby given that KEITH ALAN MCCONNELL of P.O.Box EE16962 #93 Yamacraw Hill Road, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of February, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that GHISLAINE BALFOUR of P.O. Box SS-6156, Mermaid Boulevard of Carmichael Road, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 20th day of February, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that DIANHA CALIXTE of Fleming Street off Blue Hill Road, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 20th day of February, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Their relationship is mutually beneficial

The affection continued on Wednesday, when Trump traveled to a Saudibacked investment meeting in Miami, where Musk was in attendance and asked the billionaire to stand up so the crowd could applaud him.

"He's doing a great job," Trump said. The president also suggested that the ratings for Tuesday night's interview were high, telling the crowd, "You coulda seen him last night. He's a very committed person, a very serious person."

"He's a seriously high IQ individual," Trump added. "He's got his faults also, I'll tell you that. But not too many of them."

Trump has empowered Musk to help him keep a campaign promise and " shatter the deep state " by firing scores of federal workers, shrinking or shuttering agencies and slashing the size of government.

"There's a vast federal bureaucracy that is implacably opposed to the the president," Musk said

during the Hannity interview. He added: "What we're seeing here is the sort of the thrashing of the bureaucracy as we try to restore democracy and the will of the people."

Tesla and SpaceX have benefited from lucrative government contracts from the Defense Department, NASA and other federal entities, as well as plenty of tax breaks and subsidies over the years. The Trump administration could also take a lot of regulatory heat off Musk, including dismissing crash investigations into Tesla's partially automated vehicles and a Justice Department criminal probe examining whether Musk and Tesla have overstated their cars' self-driving capabilities.

Musk nonetheless insisted to Hannity, "I haven't asked the president for anything, ever."

Trump said the billionaire "won't be involved" in areas where his government efforts and business concerns overlap — though that seems dubious given that Musk's team has already begun scrutinizing federal contracts in

areas that would seem to present conflict-of-interest concerns.

Trump's friendships often don't last

Trump and Musk say they won't turn on each other.

But those once closest to Trump often end up as his fiercest critics.

His former vice president, Mike Pence, said Trump endangered his family in the Jan. 6, 2021, riot at the Capitol and attempted to bully him into violating the Constitution. His former attorney general, Bill Barr, refuted Trump's falsehoods about widespread fraud in the 2020 election and has since said he "shouldn't be anywhere near the Oval Office."

Michael Cohen, Trump's longtime lawyer who testified against him in a hush money case, told a House committee in 2019: "People that follow Mr. Trump, as I did blindly, are going to suffer the same consequences that I'm suffering."

More recently, Trump shrugged off potential security risks while ending Secret Service protection

for former top officials in his first administration, including former Secretary of State Mike Pompeo and former White House chief of staff John Kelly.

Trump also has shown repeatedly that he doesn't like being overshadowed, even hinting at such where Musk is concerned. Asked recently about Musk appearing on the cover of Time from behind the Resolute Desk in the Oval Office, Trump quipped, "Is Time Magazine still in business?"

But Trump has also been fiercely loyal to those he perceives as having stood by him.

Former White House adviser Peter Navarro, who served time in prison related to the Jan. 6 attack on the U.S. Capitol, is back helping dictate Trump trade policy. Trump's valet, Walt Nauta, is working anew at the White House after once being a codefendant with Trump in the classified documents case. Trump has also said he'd offered "about 10 jobs" to his former national security adviser, Mike Flynn, whom he pardoned after Flynn pleaded guilty to lying to the FBI.

Four weeks in, they seem genuinely fond of each other

Throughout the interview, Hannity was friendly and his questions were mostly fawning. But what came through most clearly was how complimentary Trump and Musk were of each other — even amid skepticism about how their friendship enduring.

"He's an amazing person," Trump said of Musk.

"I love the president, I just want to be clear about that," Musk offered of Trump.

"I feel like I'm interviewing two brothers here," Hannity finally said.

PRESIDENT Donald Trump listens as Elon Musk, joined by his son X Æ A-Xii, speaks in the Oval Office at the White House, Tuesday, Feb. 11, 2025, in Washington. Photo:Alex Brandon/AP

S&P 500 adds to its record as Wall Street drifts higher

By STAN CHOE AP Business Writer

THE S&P 500 added to its record as U.S. stock indexes drifted through a quiet Wednesday on Wall Street.

The S&P 500 rose 0.2% after setting an all-time high the day before. The Dow Jones Industrial Average picked up 71 points, or 0.2%, while the Nasdaq composite inched up by 0.1%.

Microsoft was the strongest force pushing the S&P 500 upward. It rose 1.3% after saying it had developed what it calls the world's first "quantum processing unit," which could lead to the development of much more powerful computers. While the gain was relatively modest, Microsoft's gargantuan size gives its stock's movements huge sway on the S&P 500 and other indexes.

A 9.7% rally for Analog Devices also helped push the market higher. The semiconductor company

reported stronger profit for the latest quarter than analysts expected, despite what CEO Vincent Roche called a "challenging macro and geopolitical backdrop."

Elon Musk's Tesla rose 1.8%. It climbed after another electric-vehicle company, Nikola, plunged 39.1% following its filing for Chapter 11 bankruptcy protection. The electric truck maker said it will try to sell off its assets and wind down its business. They helped offset a 21.5% tumble for Celanese, which dropped even though the chemical company reported profit for the end of 2024 that topped analysts' expectations. CEO Scott Richardson warned that it saw "demand deterioration that gave no sign of easing" during the last three months of the year, and the company expects weakness to continue for such core markets as automotive, construction and paints. Toll Brothers, meanwhile, fell 5.9% after the homebuilder reported a weaker

profit for the latest quarter than analysts expected. CEO Douglas Yearley Jr. said this spring selling season has seen healthy demand so far for homes at the higher end of the price spectrum, but "affordability constraints" are hurting sales at the lower end.

A separate report on Wednesday morning said homebuilders as a group broke ground on fewer U.S. houses last month than economists expected.

High mortgage rates are making it difficult for some potential homebuyers to afford a house, even though the Federal Reserve began cutting its main interest rate in September in order to make things easier for the economy.

Mortgage rates have followed the trend of longer-term Treasury yields, which have remained relatively high in part because the U.S. economy has remained remarkably solid and because inflation hasn't eased as much as hoped. Tariffs threatened by

President Donald Trump, along with other policies that could put upward pressure on inflation, have also caused some sharp swings for yields in the bond market.

The yield on the 10-year Treasury eased a bit Wednesday and edged down to 4.53% from 4.55% late Tuesday. It was below 3.70% as recently as September and approaching 4.80% within the past few weeks.

Both the bond and the stock markets have increasingly been taking Trump's tariffs in stride, after earlier showing much more trepidation. The hope on Wall Street is that Trump is using such threats merely as a tool to drive negotiations, and the ultimate effects won't be as bad as they initially appeared.

All told, the S&P 500 added 14.57 points to finish at 6,144.15. The Dow Jones Industrial Average rose 71.25 to 44,627.59, and the Nasdaq composite gained 14.99 to 20,056.25.

Such calm responses, though, could of course make things worse if conditions don't go as Wall Street expects, or if it emboldens Trump to make even more forceful actions. For its part, the Federal Reserve has already signaled it may make fewer cuts this year than earlier expected, in part because of worries that inflation will remain stubbornly above its 2% target. Cutting rates can boost the economy and juice prices for investments, but they can also give inflation more fuel. Minutes released Wednesday for the Fed's last policy meeting in January showed officials

discussed how Trump's proposed tariffs and mass deportations of migrants, as well as strong consumer spending, could push inflation higher this year In stock markets abroad, London's FTSE 100 fell 0.6% after a report showed U.K. inflation accelerated to a 10-month high. That could put pressure on the Bank of England, which had been cutting interest rates to invigorate its tepid economy. Indexes fell more than 1% in other European markets, including in France and Germany, after finishing mixed across Asia.

MARINE FORECAST

CURRENCY traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Feb. 19, 2025. Photo: Ahn Young-joon/AP

Agriculture Department tries to rehire fired workers tied to bird flu response

By JOSH FUNK Associated Press

THE Agriculture Department is scrambling to rehire several workers who were involved in the government's response to the ongoing bird flu outbreak that has devastated egg and poultry farms over the past three years.

The workers were among the thousands of federal employees eliminated on the recommendations of billionaire Elon Musk 's Department of Government Efficiency that is working to carry out Trump's promise to streamline and reshape the federal government.

Republican Rep. Don Bacon said the administration should be more careful in how it carries out the cuts.

"While President Trump is fulfilling his promise to shed light on waste, fraud, and abuse in government, DOGE needs to measure twice and cut once. Downsizing decisions must be narrowly tailored to preserve critical missions," said Bacon, who represents a swing district in Nebraska.

The bird flu outbreak has prompted the slaughter of roughly 160 million birds to help control the virus since the outbreak began in 2022. Most of the birds killed were egg-laying chickens, so that has driven egg prices up to a record

high of $4.95 per dozen on average. The federal government has spent nearly $2 billion on the response, including nearly $1.2 billion in payments to farmers to compensate them for their lost birds.

A USDA spokesperson said the department "continues to prioritize the response to highly pathogenic avian influenza (HPAI)" and several key jobs like veterinarians, animal health technicians and other emergency response personnel involved in the effort were protected from the cuts. But some employees of the USDA's Animal and Plant Health Inspection Service were eliminated.

"Although several APHIS positions supporting HPAI were notified of their terminations over the weekend, we are working to swiftly rectify the situation and rescind those letters," the department spokesperson said.

Politico and NBC News reported that the jobs that were eliminated were part of an office that helps over see the national network of labs USDA relies on to confirm cases of bird flu and other animal diseases. It wasn't immediately clear how many workers the department might be trying to rehire and whether any of them worked at the main USDA lab in Ames, Iowa.

A WORKER grabs a chicken to slaughter inside a poultry store in New York, Feb. 7, 2025. Photo:Andres Kudacki/AP