business@tribunemedia.net
Thursday, May 21, 2026
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Rum Cay feud reignites By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A LONG-running Rum Cay feud has suddenly reignited to endanger the multi-million dollar sale of one of the island’s most valuable and important economic assets. Bobby Little, owner of Sumner Point Properties, yesterday told Tribune Business he is seeking police, government and regulatory intervention after being stunned by the sudden reappearance of David Cummings, a rival Rum Cay investor who he has fought against in multiple Supreme Court legal disputes dating back almost two decades. The US developer, who said his family’s involvement on the island dates back to the 1960s, is alleging that Mr Cummings is
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
Sumner Point chief seeks ‘urgent’ police, regulatory help As rival investor suddenly reemerges with sand dredging Alleges activity breaches court Order; no restitution paid
Security firm launches AI fraud detection unit BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN security provider yesterday disclosed it has launched an artificial intelligence (AI) unit to keep pace with fast-evolving fraud trends and enable clients to detect fake documents, voice notes and even video calls in “real time’. Gamal Newry, principal of Preventative Measures, an asset protection and loss prevention company, told Tribune Business that its AI unit has already received “several hits” from Bahamian and Caribbean clients seeking to use its services
GAMAL NEWRY and is predicting business will only grow as the use and variety of ‘deep fake’ manipulations continues to grow. “We would have specialised in the physical aspects
DETECT - See Page B6
Solar systems cut power bills by 34% ‘on average’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net REGULATORS yesterday revealed that homeowners and businesses with solar energy systems have “on average” cut their power bills by one-third and can further “maximise” their investment returns by exporting less electricity to BPL’s grid. The Utilities Regulation and Competition Authority (URCA), in unveiling plans for a more comprehensive study of the investment returns
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FOCOL chairman: BISX ‘deficient’ and needs change
breaching an October 19, 2012, Supreme Court Order - which he says remains in effect - barring the latter from interfering with the 80-acre Sumner Point property and its marina through blocking roads by “depositing sand” and other means. This newspaper has obtained photographs purporting to show Mr Cummings using an excavator to dredge, and clear, sand from the Sumner Point marina entrance channel with several sources iden- THE ALLEGED marina channel sand clearance that Sumner tifying him as the person Point Properties is complaining about. inside the cabin operating the machine. And Mr Little, meanwhile, is also asserting that Mr Cummings’ re-emergence on Rum Cay comes following a six-year absence after the latter was found “found guilty of contempt of court” in March 2020 just
REVIVAL - See Page B10
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from installing small-scale renewable energy systems, said the results from previous research - albeit limited to a restricted 11-strong sample size - showed that homeowners need to spend around $3.50 per watt to ensure economic viability. And URCA, which now has regulatory responsibility for the electricity sector, admitted that solar photovoltaic (PV) system owners will enjoy greater returns if they consume more of their own power and sell less back to the Bahamas Power ELECTRICITY - See Page B10
FOCOL Holdings chairman yesterday asserted that the Bahamas International Securities Exchange (BISX) is “very deficient” and “needs change” if it is to attract more major initial public offerings (IPOs) and fulfill the original vision for the country’s first-ever stock market. Sir Franklyn Wilson, speaking after BISX’s top executive revealed progress on initiatives to add three new layers to the exchange and wider Bahamian capital markets, told Tribune Business that the development of a private listings market, crowd-funding platform and secondary market are “small potatoes” compared to the need to attract more IPOs and listings on its main Board. Noting that there have been no publicly-traded IPOs since the last Ingraham administration, which ensured that both
SIR FRANKLYN WILSON Commonwealth Brewery and Arawak Port Development Company (APD) were listed on BISX, he argued that the exchange needs to “become more relevant” to the wider Bahamian capital market and its participants and fulfill its original mission when launched in 2000 - to act as a pooling mechanism for equity capital investments in productive companies that will grow the economy and savings. Asserting that it is “fundamental” for BISX to attain such an objective, Sir Franklyn told this newspaper that - if it did - it will have an “immeasurable”
TRADING - See Page B6