Bahamas News

Statement by the Hon. K. Peter Turnquest, Deputy Prime Minister and Minister of Finance in Response to Chester Cooper, MP, Exuma & Ragged Island

Published

8 years ago

October 12, 2017

#Bahamas, October 12, 2017 – Nassau – It is disappointing that the Member for Exuma & Ragged Island would once again allow himself to be led by those on his side who have been rejected by the people, and who obviously scripted a narrative intended to tie him to their failed administration rather than to offer constructive criticisms, of which we believe he is capable.

On Monday, 9 October 2017, National Hero’s Day, a day set aside to celebrate those great matriarchs and patriarchs who fought so hard for our freedoms, instead of celebrating the wonderful journey of our country, they would rather attempt to defend the indefensible and attribute words and motives to the Government that were not uttered nor implied. Here I am reminded of the saying, “the wicked flees when no man pursueth”.

When I spoke in the Honourable House of Assembly on 5 October 2017, speaking in relation to the previous administrations failure to extend the CCRIF Insurance coverage, I stated the following regarding money borrowed for hurricane Matthew relief:

“…What we do know however, is that we can only trace approximately $108 million of the $150 million supposedly spent on hurricane Matthew relief and while I am not saying the balance is unaccounted for, what I am saying is we are still trying to trace that balance.”

It is a simple fact that the Ministry of Finance was able to tie approximately $108 million directly to hurricane expenses but we were unable to say at that date, how the balance of $42 million was spent or, if those funds were simply absorbed into the consolidated fund and spent to cover usual bills as suggested by the Opposition, which was not the stated purpose of the borrowing. To suggest that I stated the money was stolen or otherwise misappropriated is deceitful and entirely misleading.

With respect to the fiscal deficit, I have explained the difference between actual cash basis reporting and a projection, which is inherently based upon judgement considering known facts. If this concept is unclear to the Opposition then they will have bigger problems going forward. As to where the money came from to pay those bills, the Opposition should recall the borrowing resolution they helped pass just a few short months ago to cover these expenses.

Like the Shadow Minister of finance, I too have no interest in playing political football and he would do well to acquaint himself with the Financial Administration and Audit Act and the rules governing the Public Accounts Committee, which should inform his commentary. For my part, I intend to be as transparent as possible with internal and external stakeholders and not be distracted by rejected politicians with selfish motives.

Bahamas News

Caribbean Wines & Spirits Hosts Intimate Dinner with Cakebread Cellars at Carna

Published

3 days ago

May 10, 2025

Deandrea Hamilton

Nassau, BAHAMAS — “A dish without wine is like a day without sunshine” – Jean Anthelme Brillat – Savarin

This saying emphasizes the enjoyment and pleasure that wines bring by enhancing the overall dining experience of every meal. This most certainly was the case in early April when Carna, at Baha Mar, hosted a six-course intimate dining experience with Cakebread Cellars wines. Cakebread Cellars is exclusively distributed by Caribbean Wines & Spirits.

Cakebread Cellars, a renowned Napa Valley winery, earned international acclaim when its Chardonnay became the first Californian wine to win a prize in France – an impressive milestone that helped put California wines on the global map. Known for their elegant, food friendly wines and commitment to quality, Cakebread Cellars continues to be a celebrated name in American winemaking.

The four wines featured during the evening were some of the most phenomenal vintages available in Cakebread Cellar’s portfolio: Napa Valley Reserve Chardonnay (2019), Two Creeks Vineyard Pinot Noir (2020), Napa Valley Cabernet Sauvignon (2018) and the Cabernet Sauvignon Reserve Howell Mountain (2018). Guests enjoyed the perfect pairings which highlighted the brand’s diversity.

Jennifer Vitali, Regional Manager for Kobrand and DeCarlo McPhee, Sales Manager for Caribbean Wines & Spirits spoke to the guests in detail about each wine, giving diners an enhanced experience.

Guests were also treated to one of Cakebread Cellars’ most luxurious products, their Dancing Bear Cabernet Sauvignon, which retails at $255.

The Dancing Bear Ranch is located high on the slopes of Howell Mountain in northern Napa Valley. The vineyard’s high elevation, dry soils, and unique exposure contribute to small yields of intensely flavorful grapes

The Dancing Bear Cabernet was decanted by Faizal Farook, General Manager for Carna in SLS Baha Mar. Farook took delight in pouring a glass for each guest which they all savored.

The Dancing Bear Cabernet Sauvignon delighted guests with its tasting notes of ripe cherry and blackberry, along with hints of mocha, leather, baking spices and rocky minerality. The rich yet complex flavor can be accredited to the wine’s ranch unique location.

All the wines from the Cakebread portfolio, including the Dancing Bear Cabernet Sauvignon retail between $70.40 and $255.

For more details on exclusive dining experiences, new products and exciting events visit Caribbean Wines & Spirits’ website www.cwsbahamas.com today!

Photo Captions:

A display of the Cakebread Cellars wines tasted during the dinner at Carna

Guests seen engaging in conversation while savoring their perfectly paired wines and food.

Bahamas News

MOHW Develops Digital Platform to Properly Monitor Regenerative Therapy

Published

4 days ago

May 9, 2025

Deandrea Hamilton

By Lindsay Thompson

Bahamas Information Services

NASSAU, The Bahamas -The system for the implementation of the Longevity and Regenerative Therapies Act, 2024 was officially introduced locally and internationally on April 28, 2025.

The Minister of Health and Wellness the Hon. Dr. Michael Darville foreshadowed the move at the 2025 HEALinc Future Innovation Summit opening ceremony on Sunday, April 27, at Atlantis Resort on Paradise Island.

Referred to as LAR-TA, it is an on-line portal and digital platform designed to ensure that all approved longevity and regenerative therapies acceptable to patients in The Bahamas are properly vetted for safety and scientific merit, and that these therapies are delivered within a closely monitored ethical framework.

“The LAR-TA system has been developed to ensure that patients are properly consented, that the studies and therapies are ethically approved, meaning they have Institutional Review Board (IRB) approval that follow-up data from patients receiving cutting-edge therapies are properly tracked and regularly reviewed for safety and efficacy,” said Dr. Darville.

The new Act also establishes a Longevity and Regenerative Therapy Board that will encourage medical tourism, as well as the advancement of translational medicine locally and globally.

The board will develop the framework to attract top-tier bio-tech companies that will create jobs and other economic benefits and will ensure that stem cell therapies, gene therapies and other promising regenerative therapies accessible in The Bahamas are approved and properly monitored.

The 2025 HEALinc Global Summit ran April 27-29 under the theme: “New Opportunities in Healthy Longevity and Regenerative Medicine”.

The Summit opened with the “big picture” idea of embracing more connected perspectives on the restoration of “whole-person” health and life enhancement.

It featured more than 30 speakers who discussed topics such as precision medicine, gene therapy, and health longevity. It also explored the intersection of advanced longevity, regenerative medicine, and technology focusing on the mind-soul-spirit consciousness.

This unique convergence also highlighted the innovations and insights necessary to restore and sustain whole-person health, bridging science and spirituality to redefine the future of well-being.

The summit unites world leading scientists, innovators, thought leaders, entrepreneurs, and medical professionals with a mission to empower individuals in health management and future shaping.

HEALinc, challenges norms, fostering innovative methods and connecting patients with resources for enhanced quality of life. Its focus is on safe, efficient solutions for longevity and regeneration.

Dr. Darville thanked Bahamian Dr. Desirée Cox, CEO and Founder of HEALinc and her team for organizing and bringing together industry leaders and scientists to the Fifth Annual HEALinc Global Summit in paradise.

“Your work embraces the spirit of collaboration and continues to reshape our understanding of ageing, wellness and recovery,” he said.

Bahamas News

National Energy Policy consultation tour closes this month

Published

4 days ago

May 9, 2025

Deandrea Hamilton

By Shakara Trott

Bahamas Information Services

GRAND BAHAMA, The Bahamas — The Ministry of Energy is actively engaging Bahamians in shaping the National Energy Policy (NEP) 2025–2030, emphasizing transparency, inclusivity, and public participation. The campaign encourages citizens to contribute to policy development, with public consultations closing at the end of the month.

The NEP aims to provide safe, reliable, and affordable sustainable energy, aligning with the UN’s 2030 Agenda for Sustainable Development, particularly in areas like affordable energy, sustainable cities, and global partnerships. Key themes in the policy include access, resilience, inclusion, and sustainability.

The transportation, telecommunications, and electricity sectors are the largest energy consumers and central to national development.

The Bahamas currently relies heavily on imported fossil fuels (mainly diesel and heavy fuel oil), exposing the country to volatile global oil prices and high energy costs. The main electricity providers are Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC).

During a recent national address on January 8, 2025, announcing the nationwide 5% VAT rate decrease, Prime Minister and Minister of Finance Philip Davis said that his Government had already started by creating the country’s first nationwide energy sector reforms.

He said: “The high cost of energy runs right throughout the economy. Important parts of our outdated electricity grid date back to before Independence. Some of them are so old that no one makes the parts to fix them anymore. But we can’t build a successful economy – and Bahamians can’t build their own success stories – if we continue to be burdened by an old, outdated, system, dependent on heavy and diesel fuels.”

Prime Minister Davis added: “An unreliable system, and above all, an expensive system – you simply can’t build a 21st century economy with 20th century infrastructure. So, we’re reforming, upgrading, modernizing.”

He noted that solar panels were going to go up, and prices were “going to come down”.

“We are partnering with Bahamian companies across our Family Islands, to meet the unique needs of each,” Prime Minister Davis pointed out. “We are going to have New Providence’s first utility-scale solar field. We’re integrating LNG. We’re updating transmission lines and technology, for efficiency – which means cost-savings – for reliability, and increased resilience during storms.”

He noted that it was a huge undertaking, and it was going to make a “huge difference”.

“But the changes will take time – so while that work is happening, we’re offering relief on high monthly electricity bills with an equity rate adjustment – a tariff reduction that has already added up to significant savings for thousands of Bahamian households and businesses,” Prime Minister Davis stated.

“In the coming months and years, imagine how many more Bahamian businesses will grow and thrive, once they are not held back by high electricity costs.”

The NEP is part of a broader legal and regulatory framework, supported by:

The Electricity Act 2024 (regulating generation, transmission, and supply),
The Natural Gas Act 2024 (regulating importation, transport, and retail of natural gas),
The URCA Act, empowering URCA to regulate and issue licenses.

Importantly, the NEP is a policy document, not legislation, but it guides and complements existing laws.

The energy revolution is underway in The Bahamas, with the Prime Minister emphasizing that the country will no longer be held back by long-standing energy challenges. The government is committed to ensuring no island is left behind in this transformation.

As part of ongoing public engagement, the energy team are updating residents of George Town, Exuma, and Matthew Town, Inagua — with the final stop of the consultation tour being at Inagua All-Age School Hall on Friday, May 16, from 5:00 PM to 7:00 PM.