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THURSDAY, JANUARY 7, 2021

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December arrivals down 95% on 2019 By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HE Bahamas saw total visitor arrivals for December 2020 slump by 95 percent year-over-year despite the re-opening of its two mega resort destinations and other major hotels. The decline, described by Dionisio D’Aguilar, minister of tourism and aviation, as “abysmal but it’s all relative”, can be calculated based on the 35,000 health travel visas that his ministry approved for visitors during the month that included the

• Minister says numbers ‘abysmal but it’s relative’ • 35,000 visitor health visas issued during month • Fears US may impose PCR test for returnees

DIONISIO D’AGUILAR

Christmas and New Year’s Eve holidays. Those 35,000 stand in stark contrast to the 710,186 visitors that Ministry of Tourism statistics show visited The Bahamas in December 2019, equal to less than five percent of prior year totals in what was a record 12 months for tourist arrivals. The data demonstrates how much ground this nation’s major industry

has to recover, despite the fanfare surrounding the re-opening of Atlantis and Baha Mar and the recall of several thousand workers, as it bids to rebound from the devastation inflicted by the COVID-19 pandemic. Admittedly much of the year-over-year decline was caused by the total loss of cruise passengers, with The Bahamas receiving just over

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Retailer: US dollar payments dry up

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BAHAMIAN retailer yesterday said US dollar notes have “pretty much disappeared” from circulation as he warned that the sector faced “a new reality” until the COVID-19 vaccine takes global effect. Andrew Wilson, the Quality Business Centre (QBC) and Fashion on Broadway principal, told Tribune Business the amount and frequency of US dollar payments received by his retail brands was “nowhere near what it used to be” in a sign of just how much foreign currency inflows throughout the real economy have dried up due to the pandemic and tourism shutdown. Revealing that his

• QBC chief says circulation ‘nowhere near’ past • Xmas sales off 25-30% as retail faces ‘new reality’ • ‘Consumer who spent $300 now parting with $175’ Christmas sales were between 25-30 percent down on prior COVID-free years, Mr Wilson said consumer spending and average transaction amounts were “substantially down” yearover-year as Bahamians operated under the constraints imposed by mass unemployment and income reductions. “There was a time when quite a bit of the dollars coming across our cash register were US dollars. That’s no longer happening any more,” he told this newspaper. “US dollars in circulation are nowhere what they used to be. It’s

‘Don’t presume we’ll sacrifice tourism for oil’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMAS Petroleum Company (BPC) was yesterday warned “not to presume that Bahamians will collapse and sacrifice the world’s most successful per capita tourism industry” even if oil is discovered. Fred Smith QC, the Callenders & Co attorney and partner who is representing environmental activists in their Judicial Review challenge to BPC’s exploratory drilling permits, told Tribune Business that the oil explorer’s chief executive, Simon Potter, was “missing

FRED SMITH QC the point” when he asserted that The Bahamas will discover within four to six weeks whether it is “an oil rich nation”. The outspoken QC argued that there was no certainty,

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BPC ‘halt’ rejected over losses pledge absence By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Supreme Court refused to “stay” Bahamas Petroleum Company’s (BPC) exploratory oil drilling because its opponents failed to give “a cross-undertaking” to cover potential losses from such delay. Justice Petra HannaAdderley, noting BPC’s assertion that it could incur at least $25m in extra costs “and possibly much more” if she suspended its activities in mid-drilling, declined to issue the halt sought by

Waterkeepers Bahamas and Save the Bays because they did not promise to compensate the explorer for any damages suffered. She also accepted arguments by the government’s attorney, Aiden Casey QC, that there was no decisionmaking process to halt because the government had already issued BPC with the necessary Environmental Authorisation (EA) and all other relevant permits and approvals. “The facts, as highlighted by all of the parties, are

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pretty much disappeared. “We see the occasional $20, the occasional $50, and a couple of $5 bills. For the most part it’s Bahamian dollars in circulation.” Mr Wilson’s disclosures are the first sign of how the “trickle down” of US dollars into the real economy from visitor spending and gratuities has been largely cut-off by the eight-month tourism industry shutdown. While the external reserves, boosted by the government’s foreign currency borrowings, stood at $2.341bn at end-October 2010, the flow of US dollars among ordinary consumers

and the speed at which they circulate has clearly been disrupted by the economic fall-out from COVID-19. Meanwhile, Mr Wilson said of Christmas sales: “They were OK, especially in the final days. They were not as in years past, nor were they expected to be, but overall I think the relaxation of the curfew and other restrictions helped. “All things considered, we were pleased as they were in line with expectations. We expected a 25-30 percent decline overall compared to 2019, and

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Declining exam results labelled ‘unsustainable’ for GDP growth By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A GOVERNANCE reformer yesterday warned the Ministry of Education not to lose sight of the fact this year’s BGCSE exam results “create an unsustainable scenario” that will undermine GDP growth. Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, told Tribune Business that while he was not criticising education officials for congratulating themselves on holding the exams amid COVID-19, they were seemingly failing to notice that the deteriorating grades are “detrimental to the nation’s success”. “I’m sure they feel that’s an accomplishment,” he said of the ministry’s selfpraise for just holding the exams, “and considering the circumstances I’d agree it’s an accomplishment. But that accomplishment doesn’t diminish the effect the results are going to have on productivity and the wider economy. “It’s just that the results are a measure of capacity and skills, and it would indicate there’s a significant problem. Yes, it’s wonderful being able to keep school open and complete the exams, but the macro picture is not that. The macro picture is what effect that has on the economy and people’s livelihoods, and their capacity to become employed and productive members of society. The Ministry of Education previously said national exam results worsened in 2020 compared to 2019, with fewer students achieving A, B and C grades and more students receiving D, E, F and G grades compared to the year before.

ROBERT MYERS The total percentage of grades awarded at “D” or higher was lower this year than in any of the previous four years, and the overall number of test takers plummeted amid the COVID-19 crisis, according to statistics from the Ministry of Education. The number of BGCSE candidates that received at least a “C” grade in five or more subjects declined by 5.8 percent. The number of students that received a minimum grade of “D” in at least five subjects declined by nine percent, and the number of candidates that received at least a “C” in mathematics, English language and a science declined by 3.3 percent. “The ministry feels that’s a success, but the reality is the results are poor and declining,” Mr Myers told this newspaper. “That’s going to become even more obvious in this COVID-19 environment. They may have been able to complete the tests, but it doesn’t distract from the fact we have a bigger macroeconomic problem. “Education may feel good about it, but the business community surely doesn’t and civil society surely shouldn’t. That needs to be the focus. It’s going to be a drain on GDP growth unless we get more aggressive with

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PAGE 2, Thursday, January 7, 2021

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GETTING BETTER RETURNS FROM VIDEO MARKETING

N the past, research showed the average person spent 84 minutes or more per day watching online videos, and this is only expected to increase in 2021. Facebook Live videos have become incredibly popular, especially gardening and cooking videos, with 88 percent of marketers reporting they offered a positive return on investment. Many businesses were using video as a marketing tool in 2020, and 92 percent of those marketers credited this medium as an important part of their marketing strategy. Here are top video marketing tips designed to help companies gain more from video content in 2021. Focus on consumers Videos are a huge part of how today’s consumers make decisions, creating a great path to position businesses, products or services. If you wish potential customers to imagine

themselves engaging with your brand, it is imperative that you create video content from their perspective. In particular, Tik Tok, being one of the newest video sharing apps on the block, now has millions of active users worldwide. Taking the plunge on to this new platform provides many options to reach younger audiences. Some consumers desire explainer videos, which are short and concise DIY, how-to clips, and other explanatory product videos that help them feel more comfortable with their buying choices. If done properly, this kind of content can educate, entertain and advertise all at the same time. In 2019, 57 percent of marketers were using live video before COVID-19 sent all our classes, conferences and events to online platforms livestreaming on Zoom, Facebook, Instagram or YouTube.

Keep it short but interesting People also wish not to waste time with long descriptions. Therefore, keep content short, as it is a cost-effective way to increase brand awareness. Most importantly, think of how your video content can improve brand perception. Decide what needs to be changed Here is my general rule. Even great strategies that are performing well potentially have room for improvement. If we can find out why, continue to focus on that. Content that is getting “OK” initial views but poor completion rates or engagement may need some work. Some videos that are not resonating, or are not relevant to your target audience, may be because they are not moving the audience the way you had hoped. Go ahead and scrap these strategies if they are not working for your business. Having quality videos

embedded on your website can increase traffic and encourage visitors to spend more time engaging. Evaluate video marketing budget This budget will include payment for video creation, consulting, script writing, editing and distribution, along with hiring a videographer team to shoot high quality clips. Diversify content Diversify the styles of videos created. Maybe use voice-over narration, a direct interview with employees, customers or team members. Go live. Live videos are becoming the most highly engaging and frequently watched, but ensure that any landing page your videos send users to are mobile-optimised. Remember to also include a call to action in your videos to encourage audience interaction. Consider your goals Ultimately, it is important to consider your

overall marketing and business goals for 2021, and ascertain how video marketing fits into it. Best practices have changed over the past year, with new features becoming available and user behaviour changing due to a number of factors. At this point it helps when developing a solid marketing plan to not only have specific strategies in mind, but also specific video storyboards. Do what you can to make your video content more engaging and interactive, as online users are expecting more. Keeping the videos dynamic will go a long way, as video marketing will continue to grow and will not be altering its path any time soon. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game. NB: Columnist welcomes feedback at deedee21bastian@gmail.com

The Art of Graphix BY DEIDRE M BASTIAN

ABOUT COLUMNIST: Deidre M Bastian is a professionally-trained graphic designer/brand marketing analyst, author and certified life coach with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.

Bahamas institution nominated for award A BAHAMIAN financial institution and its affiliates have been shortlisted for Trust Company of the Year honours by a major

international financial services awards ceremony. Bermuda-headquartered Butterfield has been named as a contender for six

Citywealth International Financial Centre (IFC) Awards, which recognise excellence in international private wealth advisory

and management. Butterfield Trust received 2021 Trust Company of the Year nominations covering every jurisdiction in which it operates, including The Bahamas; Guernsey; Switzerland; Hong Kong and Singapore; Bermuda and Cayman. Phil Lenz, deputy country head of Butterfield Trust in Switzerland, has also been shortlisted for 2021 Trustee of the Year for that nation, while Butterfield has also been nominated for 2021 Private Bank of the Year in the Channel Islands and Isle of Man. Michael Collins, Butterfield’s chairman and chief executive, said: “We are very proud to, once again, be recognised by

Citywealth for excellence in our core private wealth management businesses. “The fact that we have been shortlisted for our trust and fiduciary services in every financial centre in which Butterfield Trust has a presence is a reflection of the calibre of our professionals, and the standard of

Declining exam results labelled ‘unsustainable’ for GDP growth FROM PAGE ONE the importation of more educated workers that can provide skills training. “I’m not arguing with the Ministry’s interpretation of how they’re feeling. I’m merely saying these results create an unsustainable scenario for The Bahamas. If they choose to believe they’ve done a good job, I’m not criticising that. I’m just saying the overall results are detrimental to the nation’s success. We’ve

always got to focus on the core problem.” Statistics released by the Ministry of Education also revealed that 10,753 students sat the BJC exams, representing a 3.62 percent decrease from 2019. The number of students sitting the BGCSE exams declined by 5.9 percent, with 6,073 candidates registered for the 2020 exams compared to 6,454 in 2019. Many viewed the Ministry’s statements as an attempt to distract from the results. Mr Myers, in a previous interview, branded the results “diabolical” and warned that they will further undermine efforts to grow the Bahamian economy at the faster pace needed to recover from COVID-19. He added that failing to develop a productive workforce will impair the international competitiveness of both Bahamian businesses and the wider economy unless drastic improvement is seen. “The challenge with this diabolical result is that there are, yet again, more young adults now in the job market who are under-educated and woefully unemployable as they do not possess the basic skills, soft skills and/or specific skills to be of value to

service we offer our clients around the world.” The annual Citywealth IFC awards, which are in their tenth year, recognise advisers and managers in the private wealth sector. Shortlist and award recipients are selected by a panel of international industry experts. employers,” Mr Myers said. “What these new results mean in terms of future productivity and GDP is the larger macro problem, and one that successive administrations have failed to address adequately or honestly for decades. “Without an educated and productive workforce, our economy will not grow at anywhere near the rates necessary to meet the fiscal demands required for social and fiscal stability. Where is the government’s macro understanding and vision that will provide opportunities for future generations? Fanning people’s hopes with promises and lies are no longer a believable manifesto and the people know it.” He continued: “Successive governments continue to implement exactly the opposite policies they should be. Their nationalistic policies have further increased the cost of doing business, lowered productivity and continue to hamper GDP growth and employment. “If The Bahamas expects to survive in today’s world then, at some point very soon, it must find a generation of honest leaders that are prepared to accept the failures of our past and have the courage and vision to plot a new course. The sobering reality is that the leadership and governance of yesterday are of no use in today’s Bahamas if they continue to protect the status quo and their own self-interest.

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Thursday, January 7, 2021, PAGE 3

TOUR OPERATORS: XMAS VOLUMES DOWN TO 20%

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

TOUR operators yesterday revealed Christmas and New Year’s business volumes slumped to just 10-20 percent of pre-COVID levels, adding that this was simply insufficient to sustain a viable enterprise. Keva Carey, general manager of Bahtours Experiences, told Tribune Business that while happy the “tourism faucet has turned back on”, the drip coming from low tourism

arrivals and resort “bubble” restrictions on visitor movements will not allow the company to endure long-term. She added that the health protocols, requiring visitors venturing off-property to take a COVID-19 test to re-enter the resort, particularly if they take a day trip to another island, is “too expensive” for many tourists to contemplate. As a result, Ms Carey said Christmas and New Year produced just ten percent of her regular festive season numbers. She added:

“Some hotels have opened in the bubble so that guests are not allowed to do tours. Of course, that would also affect the industry. “Then, of course, even to pick up from some hotels, we now have the added cost of a COVID-19 test which you may not mind, but the fact that you may only have one guest in there for an entire week and they need another one, it just doesn’t play well.” Nicholas Pinder, general manager of Born Free Fishing Charters, said he operated at 20 percent

of pre-COVID volumes during the Christmas and New Year holidays. He added that “things have dropped off tremendously” once the holidays were over. Murray Sweeting, operations manager of Tru Bahamian Food Tours, said business was “extremely slow” during the Christmas season but he is “committed” to his staff and keeping them employed. He added: “We were really hoping that we would have seen more proactive action on behalf of our

government to open the borders to allow guests to be welcomed and allow our business to operate.” Criticising the government for inconsistencies over its tourism reopening messaging, Mr Sweeting said: “Our whole industry of tourism, when you are analysing recovery, and you have huge entities like hotels and cruise ships, we can’t tell them we’re opening up in two weeks because they have to on-board their team. They have to expend money to bring their properties back to order.”

Mr Sweeting suggested that a new approach by the Ministry of Tourism may be needed on crisis management and crisis messaging. He said: “What’s happened is the government didn’t prepare anybody to open the borders, and entities could not plan. This was it at a high level. “One of the things that we need to do is that we need a creative team at the Ministry of Tourism, as they need to evaluate if this is the new world they can continue operating in like how they have been.”

‘Stop beating same horse’ over taxation By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net CORPORATE Bahamas yesterday warned the government it cannot “keep beating the same horse to get taxes” as it rejected any increase in National Insurance Board (NIB) rates in the near-term. Brent Burrows, CBS Bahamas (Commonwealth Building Supplies) principal, urged the government to first crack down on

delinquent employers who fail to pay NIB contributions on behalf of their staff, despite deducting this from their salaries, before it came after compliant firms with rate increases. Arguing that it was “about time” they started going after NIB contribution deadbeats, Mr Burrows noted repeated suggestions by Brensil Rolle, minister with responsibility for the social security system, that the COVID-19 pandemic had exposed those

December arrivals down 95% on 2019 FROM PAGE ONE

570,000 sea arrivals in December 2019, and the statistics look much better when measured against the 140,121 air arrivals for that month. Using that benchmark, the 35,000 tourist health travel visas are equivalent to 25 percent of prior year stopover arrivals. However, the 35,000 will include boating and yachting visitors, meaning that December 2020’s air arrivals will almost certainly be more than 75 percent lower than the prior year’s. “For the month of December it was approximately 50,000, of which 35,000 were visitors and 15,000 returning citizens and residents,” Mr D’Aguilar said of approved health visas. “This comes off probably another 20,000 in the month of November, of whom 13,000 were visitors and 7,000 returning residents and citizens.” He acknowledged that the actual number of December visitors could be lower than the statistics show, since not all tourists with approved visitors will ultimately have travelled to The Bahamas, as external COVID-related factors outside this nation’s control once against work against the rebound of its resort and tourism product. Mr D’Aguilar admitted that the lockdowns, restrictions and surging COVID-19 infection rates in The Bahamas’ core tourism markets of the US, Canada and UK were all weighing heavily on the country’s bid to revive its economy, with those three nations all making a concerted - if not overt - effort to discourage their citizens from travelling abroad. He added that the situation in the US, in particular, was “concerning” with more than 20m persons infected with COVID-19, some 130,000 hospitalised and 350,000 having died from the virus. And that was before yesterday’s events on Washington DC’s Capitol Hill threw The Bahamas’ major source market into political turmoil. The minister added that, “on the positive side”, resort operators and visitors had informed him over the Christmas period that tourists generally “felt safe coming to The Bahamas” and had been able to navigate this nation’s COVID-19 protocols and requirement for a rapid antigen test after five days. While high-end, niche resorts that cater to private boaters and aviation had fared particular well, Mr D’Aguilar admitted that The Bahamas has to “work

on the middle market” that has traditionally formed the core business for the likes of Atlantis and Baha Mar. “Those facilities that cater to more of the middle market traveller, they really found it more difficult to get up and running,” he told Tribune Business. “That’s the market we rely on and actually need, but they are a bit more price sensitive and have to come by commercial aviation, meaning they have to navigate the protocols more. That’s the niche we have to work on.” Mr D’Aguilar acknowledged there had been “a significant drop-off” in tourism business since Monday, as the New Year’s holiday weekend came to an end, which meant resorts such as Atlantis have been forced to return some staff to furlough. And he voiced particular concern that the US might follow other major source markets, such as Canada, in requiring returning citizens and residents to take a COVID-19 PCR test within a limited number of days before they travel. Such a requirement, Mr D’Aguilar warned, would be “significantly impactful” for Bahamian and Caribbean tourism given that they lack nationwide infrastructure to administer and analyse PCR tests, as well as provide results within such a limited timeframe. The cost of implementing

companies who had been failing to contribute on their staff’s behalf. “That needs to be the first option if you are an individual or business,” Mr Burrows said. “We can’t keep beating the same horse to get these taxes. That’s all across the board.” NIB has paid unemployment benefits to persons whose employers have failed to make due contributions throughout the pandemic. such a system will also present a major hurdle. “Canada has it, and the word being bandied around is that the US may require it as well,” he told this newspaper of a PCR test for all returning residents, especially following the emergence of so-called “mutant” COVID-19 strains. “That would be significantly impactful. It would put significant stress on us.. there are no PCR testing facilities in the Family Islands. If they require a rapid antigen test that would be more manageable, as we already have an in-country network rolled out with in excess of 60 testing sites.” Warning that the 2021 first half will be “rough” for Bahamian tourism, Mr D’Aguilar said: “Everybody is banking on the fact that hopefully by the middle of the year the roll-out of the vaccine will be sufficient to the point where people feel comfortable to return to some semblance of normality and consider travelling again. “The first half of the year I anticipate will be rough, but barring no other strains of the virus, or complications with the vaccine; barring that I estimate things will probably get better as the year goes on. Our major source markets are probably experiencing the low point with the virus, but as they vaccinate two to three million people a week, and the roll-out of the vaccine gets some traction, so confidence will return to travel.”

His comments came after Mr Rolle said the government was mulling whether to implement NIB rate increases that have long been put off. Adding that increasing the rates has “always been in discussion”, Mr Rolle said: “All of the previous directors have been pushing government to do just that. The government has not made that determination, though. “We have got to take into consideration that during Dorian and this pandemic,

the resources and the funding to the board has been diminished. We’ve got to make a decision to make sure the board continues to be able to serve, and that may mean consideration will be given to the recommendation that has been advanced to us many, many times by actuaries.” No timeline was given by Mr Rolle on when any decision will be taken. NIB contributions, which take the form of a payroll tax, are currently split

3.9 percent/5.9 percent between employee and employer, respectively. Rupert Roberts, Super Value’s principal, said the notion of any NIB contribution rate hike in the near-term will likely receive “total objection from contributors”. He added that the social security system, though, had frequently been calling him to pay contributions in advance in recent months, which he interpreted as a sign of liquidity problems.

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PAGE 4, Thursday, January 7, 2021

Retailer: US dollar payments dry up FROM PAGE ONE that’s pretty much where we ended up. I was grateful.” However, the QBC chief said the change in consumer spending patterns and behaviour was noticeable. “Substantially so,” he added. “People were spending but they were not buying as much of the premium items. “Clearly the consumer was under constraints; financial constraints. They were going for small items - the less expensive cell phones and head phones. The customer that might

have spent $300 on an item last year might have taken a $175 item this time. “Until those people get back to work in the hotels and private sector, we are in for a new reality,” Mr Wilson told Tribune Business. “By and large, one of the yardsticks we use is the number of people on the streets. The traffic on the street is reduced, and people are getting home earlier. “Whereas previously after-work hours were among our busiest hours, and we still get some traffic, it’s nowhere near what it used to be.” He added

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that the private sector, and wider Bahamian economy, would only return to something resembling stability with the roll-out of a vaccine both here and in the country’s major source markets “There’s nothing we can do about it,” Mr Wilson said. “I’m just trying to spend my pennies as frugally as I can and take advantage of whatever new opportunities present themselves in this environment to strengthen my foundation for the future. “It’s going to be a few months until the Americans get vaccinated and the vaccination process gets underway here. We’re going to have to adapt and we will. We don’t have a choice.”

POSITION VACANT Airport Authority Field Service Engineer – Electronic Maintenance Department The Airport Authority wishes to advise that a vacancy currently exists in the Electronic Maintenance Department for the position of Field Service Engineer. CANDIDATE EXPECTATIONS: • Associate Degree or Bachelor’s in Electronics required • Minimum of three years experiences in a multi-purpose maintenance, automation or technical environment • Experience with HMI/PLC programming preferred • Intermediate diagnostic, troubleshooting, testing and analytic capabilities for complex issues related to uninterruptible power systems • Ability to work productively with minimal supervision • Ability to work at heights above 30 feet • Excellent written and verbal communications skills • Ability to multi-task efficiently • Adaptability and willingness to meet evolving department demands and skillset requirements • Aptitude to learn about specialized equipment and software programs Interested persons can email their resume to humanresources@airportsbahamas.com by January 15th, 2021.

‘Don’t presume we’ll sacrifice tourism for oil’ FROM PAGE ONE

even if BPC discovered commercial quantities of extractable oil below this nation’s seabed, that the government or Bahamian people would permit commercial production given the potential risk to the marine and land environment that is the country’s greatest economic asset. “Even if we have oil we don’t want to destroy our tourism economy,” Mr Smith argued. “Mr Potter should not disregard us by devaluing the main industry of The Bahamas, which is the ability to convert its beauty, pristine environment and marine resources into desirable tourism and eco-tourism projects, marinas and all kinds of developments where people come to enjoy our beautiful environment. “Even if he finds oil, don’t presume to assume that the Bahamians will simply collapse and allow oil prospectors to destroy our environment. All I can say to him is: ‘No way, Jose’. “We have seven million visitors a year in a country where the population is just under 400,000. Per capita The Bahamas probably has the most successful tourism industry in the world, and we don’t want that spoiled even if there’s oil.” Mr Smith hit back after Mr Potter and BPC, following the Supreme Court’s rejection of a “stay” that would halt ongoing drilling of their Perseverance One exploratory well in waters 90 miles west of Andros, said they were confident that all legal obstacles to its completion within the targeted 45-60 day timeframe had been removed. They argued that Justice Petra Hanna-Adderley’s decision not to grant a “stay” that would have halted its Perseverance One well meant Bahamians will “likely know within four to six weeks whether they are an oil-rich nation”.

While the Supreme Court gave BPC’s opponents permission to proceed with their Judicial Review challenge to the project’s permits and approvals, the hearing on the merits of their claim will likely only take place between February 17-18 at the earliest. Given that Perseverance One, which has been spud in waters 90 miles west of Andros, started on December 20, 2020, and is estimated to take between 45-60 days to complete, there is every possibility that exploratory drilling will have finished or be near to finishing by the time the court date comes around. The February 17, 2021, date is some 59 days after the drilling started. Some observers would likely argue that all arguments over oil exploration in Bahamian waters are premature until BPC discloses the Perseverance One results. They believe The Bahamas should first determine whether it has a new natural resource in oil, and then decide whether to permit commercial exploitation and extraction. This line of thinking suggests that The Bahamas, especially post-COVID-19 and Hurricane Dorian, cannot afford to turn its back on a potential new industry and source of possible multibillion dollar royalty revenue for the government and any sovereign wealth fund. Others, though, including Waterkeepers Bahamas and Save the Bays, which brought the Judicial Review action, argue that permitting an oil industry in The Bahamas is simply too great a risk to take, given the potential pollution threats to an environment that sustains the near-$8bn annual economic output of tourism and financial services. Mr Smith yesterday argued that such a move would go against the Prime Minister’s plea at the United Nations (UN) for all countries to meet the challenge presented by climate change,

which is having a disproportionate impact on small island states such as The Bahamas as measured by Hurricane Dorian. “There’s no sense in finding oil and contributing to the destruction of the environment,” he said. “It goes completely against the prime minister’s wishes, and those of his government. It goes completely against all the commitments that The Bahamas has signed on to regarding environmental protection and mitigating climate change.” Joe Darville, chairman of Save the Bays, one of the two environmental groups bringing the action, described himself as “ecstatic” over yesterday’s ruling. He added: “Oil drilling should not proceed if it is not conducted in accordance with the law and not in the best interest of our people. “A key part of the mission of Save the Bays is to fight against the scourge of unregulated development, and ensure that every foreign investor who comes here with a plan acts according to the laws of The Bahamas and in the best interest of the people. We intend to hold BPC to that standard.” However, Casuarina McKinney, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, was more circumspect. She told Tribune Business: “The judge’s decision to allow the Judicial Review to proceed is a huge victory for the environment and for the rights of Bahamians to be heard on something that affects all of us. “We are very concerned that the drilling rig is still continuing off the west side of Andros because of the impact to the environment that is happening right now.... Oil drilling in our waters is a serious threat to current and future generations of Bahamians and needs to be considered very carefully, not rushed into under a cloud of secrecy.”

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Thursday, January 7, 2021, PAGE 5

BPC ‘halt’ rejected over losses pledge absence applicants have an arguable case on the applicability of the Planning and Subdivisions Act...... I find that the Town Planning Committee should be joined as a party to this action as its presence before the court is necessary to ensure that all of the

STENA ICEMAX DRILLING SHIP FROM PAGE ONE that the decision-making process has been completed, the decisions have been implemented, and subsequently the drilling exercise to which those decisions that were made has commenced. Therefore, to my mind, in the circumstances, there is no decision-making process to be stayed,” Justice Hanna-Adderley ruled. Mr Casey had argued that granting a “stay” would also result in “unnecessary delay to the project which is of great public importance”, and that it could undermine investor confidence in The Bahamas and agreements

with the government. “Mr Casey also submits that the granting of a stay poses a real risk of BPC losing its window for its vessel and teams of specialists to complete the exploration drill, and more so other commercial operators being unwilling to become involved or make investments with The Bahamas in regard to oil exploration,” Justice Hanna-Adderley recorded. While the Supreme Court’s rejection of a “stay” was the main result BPC was seeking, since it largely removes all obstacles to the completion of its Perseverance One exploratory well,

its opponents have hailed the fact that Justice HannaAdderley has given them permission to bring Judicial Review proceedings against all the project’s permits and approvals. In particular, she agreed that the Planning and Subdivisions Act applied to BPC’s project, and that it likely needed site plan approval under this law. “The definition of land as set out in Section 4(1) of the Planning and Subdivisions Act seems to suggest that the drill site is located within the territorial waters of The Bahamas and would be subject to the Planning and Subdivisions Act,” the judge found. “In my view the

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matters in dispute may be effectually and completely determined.” Justice Hanna-Adderley added that it was “a grave miscalculation” by Waterkeepers Bahamas and Save the Bays to believe that BPC would not raise

the necessary financial resources to complete the project, but said there were sufficient reasons to extend the time for them to bring the Judicial Review beyond the six months when the decisions complained of were taken.

PAGE 6, Thursday, January 7, 2021

THE TRIBUNE

Stocks rally, despite protests in DC, on hopes for stimulus Associated Press WALL Street rallied yesterday on expectations of more stimulus for the economy, though the enthusiasm was dampened by chaotic scenes in the nation’s capital. The S&P 500 rose 0.6% after having been up 1.5%

earlier, while the Dow Jones Industrial Average closed at a record high. Investors piled into stocks of smaller companies, banks and other businesses that would be winners if Democrats push through more economic aid for hurting Americans and businesses. The yield on the ten-year Treasury topped

1% for the first time since March. The rally lost some momentum yesterday afternoon after the US Capitol building went into lockdown as supporters of President Donald Trump broke through barricades and entered the building following clashes with police.

Both houses of Congress abruptly went into recess, interrupting debate over the Electoral College vote that gave Joe Biden the presidency. Earlier, Trump riled up the crowd with his baseless claims of election fraud. Stocks got off to a strong start after Democrats won one of the two runoff elections in Georgia. The second race was also called for them later in the day, handing the party of President-elect Joe Biden control of the Senate. Traders largely looked past the unrest that erupted in Washington and chose to look ahead to later this year, when they expect the prospects for the economy to brighten with the rollout of COVID-19 vaccines and the potential for increased spending on infrastructure and other areas under a Biden administration. “The market came off the highs by a decent amount, so there was some impact,” said Nate Thooft, head of global asset allocation at Manulife Investment Management. “The markets are taking it in stride because they think it’s a temporary issue that will ultimately be resolved.” The S&P 500 rose 21.28 points to 3,748.14. The Dow gained 437.80, or 1.4%, to 30,829.40. The index had been up 631 points. The Nasdaq composite, which is full of tech stocks, shed early gains as investors shifted away from the winners of the stay-at-home economy of the pandemic and rotated into companies whose profits would benefit most from a healthier economy. The index fell 78.17 points, or 0.6%, to 12,740.79. “This is just a market taking into account the likely outcomes from what happened in the election,” said Andrew Mies,

chief investment officer at investment advisory firm 6 Meridien. “You have the recognition that the Democratic agenda is probably much more mainstream than people feared.” A report yesterday underscored how fragile the economy is because of the worsening pandemic. Payroll processor ADP said private employers cut 123,000 more jobs last month than they added. It was much worse than economists’ expectations for job growth, and it was the weakest such report since April. The Labour Department’s more comprehensive report on jobs growth is due on Friday. The Russell 2000 index of small-cap stocks nevertheless surged 78.81 points, or 4%, to 2,057.92, a record high. Another round of stimulus for the economy could benefit smaller companies in particular because they tend to have smaller financial cushions to survive long-term downturns. Stocks of companies that would profit from increased spending on infrastructure also helped lead the market. United Rentals, whose catalog includes forklifts and light towers for construction sites, jumped 8.9% for one of the bigger gains in the S&P 500. Vulcan Materials, which sells asphalt and other construction materials, also rose 8.2%. “More fiscal support forthcoming likely means a stronger economic recovery and markets are pricing that in,” said Brian Levitt, global market strategist at Invesco. “Today is the recovery trade.” Big spending plans for the economy could trigger not only stronger growth for the economy in the future but also heavier borrowing by the US government and maybe even inflation. Those factors helped push up Treasury yields, and the yield on the ten-year Treasury rose to 1.04% from 0.94% late on Tuesday. The increase in yields, along with rising hopes for a strengthening economy, helped push banks higher. Financial stocks rose 4.4% for the biggest gain among the 11 sectors that make up the S&P 500. Zions Bancorporation jumped 11.2%, and KeyCorp gained 9.7%.

On the other end of the market was Big Tech. A Democratic controlled DC could mean tougher regulations are on the way for the group, which already has been facing increased scrutiny. Several Big Tech stocks fell, including a 3.4% drop for Apple and a 2.8% decline for Facebook. These are among the biggest companies on Wall Street, which gives their stock movements outsized weight on the S&P 500 and other indexes. The rise in Treasury yields also undercuts one of the underpinnings for some tech stocks and other high fliers that breezed through the pandemic. When bonds are paying more in interest, it can pull some investors away from stocks. And that can hit companies in particular that trade at relatively expensive prices compared with their earnings. That could accelerate the rotation that has already begun by investors out of tech stocks and into beaten-down, cheaper areas of the stock market. The rise in yields also adds pressure on the Federal Reserve, which has kept short-term interest rates at record lows in hopes of goosing the economy. “The ball will be in the Fed’s court next and the question becomes how are they going to react to this evolving political backdrop,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Democratic control of Washington could also lead to higher tax rates for businesses, which would crimp profits and add downward pressure on stocks broadly. Analysts, though, also caution that no big changes may ultimately come from Washington given how slim the Democratic majority may be. The party will have a 50-50 split in the Senate with Democratic Vice President-elect Kamala Harris providing a tie-breaking vote. “Investors that have concerns today should probably check some of those concerns,” Levitt said. “The first year of this administration is going to be about providing as much support as possible to an economic recovery.” European markets ended broadly higher, and Asian markets ended mixed.

To advertise in The Tribune, contact 502-2394 LEGAL NOTICE

NOTICE

PONDEROSA VIEW INC. (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 5th day of January, 2021. Articles of Dissolution have been duly registered by the Registrar. The liquidator is AMICORP BAHAMAS MANAGEMENT LIMITED, of Nassau, Bahamas.

Dated this 7th day of January 2021 AMICORP BAHAMAS MANAGEMENT LIMITED LIQUIDATOR

THE TRIBUNE

Thursday, January 7, 2021, PAGE 7

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To advertise in The Tribune, contact 502-2394 PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, QUISHAWNA YVETTE SAUNDERS, of Woodlawn Gardens, Soldier Road, Nassau, Bahamas intend to change my name to QUISHAWNA YVETTE KEMP. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PAGE 8, Thursday, January 7, 2021

THE TRIBUNE

UK leader vows to use ‘every second’ to vaccinate vulnerable LONDON Associated Press UK Prime Minister Boris Johnson pledged that his government would use “every available second” to shield the elderly and the vulnerable from the virus rampaging across Britain as he told Parliament on Wednesday why the country needed to return to a COVID-19 lockdown. Lawmakers were recalled from their Christmas recess to discuss the measures, which came into force at midnight. Despite some grumbling, they voted 524-16 to approve England’s third national lockdown because there is a wide consensus on the need for tougher restrictions to control soaring new infections. “When the Office for National Statistics reports that more than 2% of the population is now infected, and when the number of patients in hospitals in England is now 40% higher than the first peak in April,

BORIS JOHNSON

it is inescapable that the facts are changing, and we must change our response,” Johnson said. He said “we will use every available second of the lockdown to place this invisible shield around the elderly and the vulnerable” until vaccination provides a “means of escape” from lockdown.

The UK is in a maelstrom of rising COVID-19 infections, hospitalisations and deaths. Britain reported more than 60,000 new confirmed cases in 24 hours for the second day in a row yesterday. Authorities said more than 403,914 people had tested positive in the past seven days, a 43% increase from

the previous week. Rising infections are also putting an unprecedented strain on the nation’s healthcare system. Hospitals in the UK are treating 30,451 coronavirus patients, well over 40% more than during the pandemic’s first peak in April. Authorities reported 1,041 deaths yesterday,

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT, 2000

ZARATRUSTA INVESTMENTS LTD.

BLESSHARE INTERNATIONAL LTD.,

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing onthe 6th day of January, 2021. Articles of Dissolution have been duly registered by the Registrar. The liquidator is AMICORP BAHAMAS MANAGEMENT LIMITED, of Nassau, Bahamas.

NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the dissolution under the provision of the International Business Companies Act, 2000, as follows: A)

BLESSHARE INTERNATIONAL LTD., is. In dissolution under the provisions of the International Business Companies Act, 2000

The dissolution of the said Company commenced on 30th December 2020.

The Liquidator of the said Company is Amicorp Bahamas Management Limited whose address is: Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O.Box N-4865, Nassau, Bahamas

Dated this 7th day of January 2021 AMICORP BAHAMAS MANAGEMENT LIMITED LIQUIDATOR

MARKET REPORT www.bisxbahamas.com

WEDNESDAY, 06 JANUARY 2021

BISX ALL SHARE INDEX:

CHANGE

%CHANGE

YTD

YTD%

2092.42

-0.03

0.00

-0.04

0.00

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 4.15 33.05 2.00 1.84 2.39 6.00 6.75 4.10 8.01 4.50 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.26 15.21

52WK LOW 3.13 22.65 0.67 1.62 1.67 5.00 6.00 2.70 4.75 3.50 5.90 11.06 2.10 4.60 9.60 7.50 13.00 3.25 8.15 14.00

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Bahamas Limited Focol Finco J. S. Johnson

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ

LAST CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.99 4.75 3.59 5.90 11.26 2.58 6.75 10.19 8.40 13.75 3.94 8.50 15.20

CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.99 4.75 3.59 5.90 11.26 2.59 6.75 10.14 8.40 13.75 3.94 8.50 15.20

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1180375 BSBGRS950320 BSBGRS950304

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.72 100.64 100.64

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 97.72 100.64 100.64

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.72 100.64 100.64

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

BAHAMAS GOVERNMENT STOCK - (percentage pricing) Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BSBGR1180375 BGRS FL BSBGRS950320 BGRS FL BSBGRS950304

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 (0.05) 0.00 0.00 0.00 0.00 0.00

VOLUME

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 17.4 34.5 N/M N/M N/M N/M 17.9 -6.8 33.9 19.5 13.1 15.6 25.4 14.5 15.7 11.5 16.9 19.4 9.1 24.1

YIELD 4.10% 3.92% 1.23% 1.63% 0.00% 0.00% 3.93% 0.00% 0.00% 3.34% 3.73% 6.39% 16.76% 0.89% 3.23% 2.86% 3.93% 3.05% 2.35% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.22% 4.31% 4.30%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 13-Oct-2037 25-Sep-2032 25-Sep-2030

MATURITY

the highest since April 21. Hospitals are jammed with COVID-19 patients and medical personnel, many of whom are exhausted after months of dealing with the virus, find themselves stretched thin. The situation is dire. “We’ve got these unprecedented numbers of patients coming in with COVID,’’ said Dr Tom Dolphin, a member of the British Medical Association council who works in London. “And we probably haven’t seen the peak yet from the patients coming in who got infected during Christmas and the new year period.’’ When Johnson on Monday announced the stay-at-home order and the nationwide closure of gyms, pubs, restaurants and nonessential shops, he said the lockdown terms would remain in place until midFebruary. By that time, the government hopes to have given one dose of a COVID-19 vaccine to about 13 million people who are most at risk — including everyone in the country over age 70 — and the progress may potentially allowing some relaxation of the restrictions. “After the marathon of last year, we are indeed now in a sprint, a race to vaccinate the vulnerable faster than the virus can reach them, and every needle in every arm makes a difference,’’ Johnson told the House of Commons yesterday. The session came amid anger over the chaos in the government’s education strategy during the pandemic.

As part of the latest lockdown, Johnson ordered schools across England to close, backtracking on the government’s pledge to keep them open. Some lawmakers are seeking assurances that schools will reopen in mid-February. “It’s been a huge shambles,” Robert Halfon, chairman of the House of Commons’ education committee, told the BBC. “This has got to stop. The government has got to offer consistency, a consistent policy that doesn’t change every couple of days.” Education Secretary Gavin Williamson confirmed that the major exams for 16- and 18-year-old high school students, which determine their chances of postsecondary education, won’t be held this summer, the second year they have been scuttled by the coronavirus. Williamson said students would be graded based on teacher assessments instead. Johnson ordered the national lockdown in England after public health officials warned that the rising infection rates threatened to overwhelm the National Health Service. On Tuesday, the Office for National Statistics estimated that 1 in 50 people in England was infected with COVID-19 in the week ending Jan 2. The government is ramping up its mass vaccination program after regulators authorized a second vaccine. The UK is using both the Pfizer-BioNTech vaccine and one made by Oxford University and AstraZeneca. Both vaccines require two shots, but British authorities decided to delay the second shot — shifting the timeline for administering the booster from 21 days after the first to up to 12 weeks later — in order to vaccinate as many people as quickly as possible. The decision is being hotly debated by governments and scientists around the world. As of Monday, the NHS had vaccinated 1.3 million people across the UK. The government plans to have almost 1,000 vaccination centers operating across the country by the end of this week, Johnson said.

LEGAL NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000

WILLOW BRANCH INVESTMENTS LTD. NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the dissolution under the provision of the International Business Companies Act, 2000, as follows: A)

WILLOW BRANCH INVESTMENTS LTD., is. In dissolution under the provisions of the International Business Companies Act, 2000

The dissolution of the said Company commenced on 30th December 2020.

The Liquidator of the said Company is Amicorp Bahamas Management Limited whose address is: Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O.Box N-4865, Nassau, Bahamas

MUTUAL FUNDS 52WK HI 2.38 4.43 2.14 198.39 176.73 1.69 1.85 1.77 1.24 8.39 10.26 7.23 12.80 12.81 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.65 1.79 1.75 1.05 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.38 4.43 2.14 198.36 173.98 1.69 1.79 1.77 1.05 8.39 9.88 7.23 12.33 12.80 10.20 N/A 9.28 11.86

YTD% 12 MTH% 4.14% 4.49% 1.47% 2.97% 2.33% 2.57% 1.65% 2.39% 4.34% 9.82% 1.65% 1.95% -3.06% -2.22% 0.80% 1.17% -12.30% -11.81% 0.64% 0.98% 1.19% -3.63% 4.20% 5.04% 2.63% 7.68% 3.68% 3.93% -4.89% -4.62% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date

30-Nov-2020 30-Nov-2020 27-Nov-2020 30-Sep-2020 30-Sep-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

INTERNATIONAL BUSINESS COMPANIES ACT, 2000

MULBERRY ADMINISTRATION LIMITED NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the dissolution under the provision of the International Business Companies Act, 2000, as follows:

30-Sep-2020

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

LEGAL NOTICE

MULBERRY ADMINISTRATION LIMITED., is. In dissolution under the provisions of the International Business Companies Act, 2000

The dissolution of the said Company commenced on 30th December 2020.

The Liquidator of the said Company is Amicorp Bahamas Management Limited whose address is: Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O.Box N-4865, Nassau, Bahamas

P/E - Closing price divided by the last 12 month earnings

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

THE TRIBUNE

Thursday, January 7, 2021, PAGE 9

JUSTICE DEPARTMENT, FEDERAL COURT SYSTEM HIT BY RUSSIAN HACK WASHINGTON Associated Press THE Justice Department and the federal court system disclosed yesterday that they were among the dozens of US government agencies and private businesses compromised by a massive, months-long cyberespionage campaign that US officials have linked to elite Russia hackers. The extent of the damage was unclear. The department said that 3% of its Microsoft Office 365 email accounts were potentially affected, but did not say to whom those accounts belonged. There are no indications that classified systems were affected, the agency said. Office 365 isn’t just email but a collaborative computing environment, which means that shared documents were also surely accessed, said Dmitri Alperovitch, former chief technical officer of the cybersecurity firm CrowdStrike. Separately, the Administrative Office of US Courts informed federal judicial bodies across the nation that the courts’ nationwide

case management system was breached. That potentially gave the hackers access to sealed court documents, whose contents are highly sensitive. The Justice Department said that on Dec 24 it detected “previously unknown malicious activity” linked to the broader intrusions of federal agencies revealed earlier that month, according to a statement from spokesman Marc Raimondi. Separately, the court office said on its website that “an apparent compromise” of the US judiciary’s case management and electronic case file system was under investigation. The Department of Homeland Security was scouring the system, it said, and cited a particular risk to sealed court filings, whose disclosure could jeopardise a lot more than active criminal investigations. “The potential reach is vast. The actual reach is probably significant,” said a federal court official who spoke on condition of anonymity because they were not authorised to disclose the information. The

official confirmed that the scope of the compromise was national but it was not clear how widespread. The sealed court files, if indeed breached, could hold information about national security, trade secrets and wiretap transcripts, along with financial data from bankruptcy cases and the names of confidential informants in criminal cases, the official added. On Tuesday, federal law enforcement and intelligence agencies formally implicated Russia in the intrusions, calling them part of a suspected intelligence gathering operation. President Donald Trump had previously questioned that consensus, suggesting without foundation that China could be to blame. The hacking campaign was extraordinary in scale, with the intruders stalking through government agencies including the Treasury and Commerce departments, defense contractors and telecommunications companies for months by the time the breach was discovered. Experts say that gave the foreign agents ample time to collect data that could be highly damaging to US national security, although the scope of the breaches and exactly what information was sought is unknown. An estimated 18,000 organizations were seeded with malicious code that piggybacked on popular network-management software from an Austin, Texas, company called SolarWinds. But only a subset are believed to have been compromised. Tuesday’s statement said that fewer than ten federal government agencies have so far been identified as having been hacked. Johns Hopkins cyberespionage expert Thomas Rid said the 3% figure of email accounts accessed at Justice may not sound like a

lot, but that it doesn’t mean that the hackers “didn’t get to the interesting stuff”. Cybersecurity experts responding to the hack say highly skilled cyber spies of the caliber behind the SolarWinds hack are apt to keep their footprint as small as possible to avoid detection — targeting only high-value email and documents. Rid wondered how sure the Justice Department could be about the extent of its compromise. “How good is their

own visibility given that US government agencies totally missed the breach in the first place?” he said. “Are they really on top of the problem? Are we only really seeing the tip of the iceberg?” The breach was discovered by FireEye, a prominent cybersecurity company, on its network. It then identified and notified other victims. Experts expect the severity of the hack and the number of victims identified to increase over time.

“History tells us that if you have a large breach, not just in one organisation but across an entire government — an entire sector — it will take a long time to identify who are the victims and how badly they are compromised,” said Rid. Microsoft declined to comment on long the intruders were reading emails in the Justice Department’s Office 365 environment, which is typically a cloud-based service hosted by the software provider.

To advertise in The Tribune, contact 502-2394 POSITION VACANT Airport Authority Financial Accountant – Accounts Department KEY RESPONSIBILITIES: • Prepares monthly and annual financial and other statements by collecting data; analyzing and investigating variances; summarizing data, information and trends. • Manages and guides accounting staff by coordinating activities and responds to financial inquiries by gathering analyzing and summarizing and interpreting data. • Manages the accounts payable and accounts receivable function inclusive of overseeing collections of unpaid invoices and providing timely aging reports to Financial Controller. • Oversees the reconciliation of all bank accounts and provide cash management direction as needed. • Guides Accounting Internal Audit staff ensuring compliance to Accounting Policies and Procedures. • Provides financial advice by studying operational issues, applying financial principles and practices and developing recommendations. • Assists in external audit requests to ensure timely submissions to external auditors, and finally at Board and Cabinet level. • Maintains company chart of accounts, creating new accounts, as necessary. • Recommends financial actions by analyzing accounting options. • Maintains accounting controls by preparing and recommending policies and procedures of the related department divisions (i.e. Internal Audit, etc.). • Updates job knowledge by keeping current with financial regulations and accepted practices; participating in educational opportunities and reading professional publications. • Assists and acts as a Relief for the Financial Controller and other team members as required to ensure goals/objectives are met, optimizing a smooth-running department. • Assists in managing timely preparation of budgeting/forecasting information and ensures effectively communicated to managers and process owners for proper accountability. KEY SKILLS: • Budgeting/Forecasting expertise. • Customer-oriented and employee relations. • Leadership/communication skills. • Proficiencies in IT Applications (including Microsoft Applications – Excel, Word, PowerPoint, Access, etc.); as well as other Company Software Systems (i.e. SAGE, ISL Payroll, etc.) • Analytical ability to create unique solutions designed to yield revenue growth, cost reductions, profitability benefitting Company. • Close/timely monitoring & management of Cash Flow and Working Capital requirements. • Adherence to deadlines is a must. QUALIFICATIONS: • Bachelor’s Degree in Accounting • Must have a Certified Public Accountant (CPA) designation • Must have a minimum of five (5) years post qualification experience in various areas of Finance and Accounting. Experience at an audit firm is a plus. • Experienced in working with Accounting Software is essential. Interested persons can email their resume to humanresources@airportsbahamas.com by January 15th, 2021.

THE TRIBUNE

Thursday, January 7, 2021, PAGE 11

TWITTER SUSPENDS TRUMP AMID CAPITOL VIOLENCE Associated Press

IN AN unprecedented step, Twitter suspended the account of President Donald Trump, pictured, for 12 hours yesterday after he repeatedly posted false accusations about the election after his supporters stormed the Capitol following a Trump rally. Twitter said that future violations by Trump would result in a permanent suspension. Earlier in the day, Twitter, Facebook and YouTube all removed a short video from Trump in which he urged those supporters

yesterday to “go home” while also repeating falsehoods about the integrity of the presidential election. Trump posted that video more than two hours after protesters entered

Guy Rosen, Facebook’s vice president of integrity, said on Twitter yesterday that the video was removed because it “contributes to rather than diminishes the risk of ongoing violence”. “This is an emergency situation and we are taking appropriate emergency measures, including removing President Trump’s video,” Rosen said on Twitter. Twitter initially left the video up but blocked people from being able to retweet it or comment on it. Only later in the day did the platform delete it entirely. Trump opened his video saying, “I know your pain.

the Capitol, interrupting lawmakers meeting in an extraordinary joint session to confirm the Electoral College results and President-elect Joe Biden’s victory.

I know your hurt. But you have to go home now.” After repeating false claims about voter fraud affecting the election, Trump went on to say: “We can’t play into the hands of these people. We have to have peace. So go home. We love you. You’re very special.” Republican lawmakers and previous administration officials had begged Trump to give a statement to his supporters to quell the violence. The statement came as authorities struggled to take control of a chaotic situation at the Capitol that led to the evacuation of lawmakers and the death of

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 74° F/23° C Low: 59° F/15° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

MONDAY

Pleasant; sunshine, patchy clouds

Mostly cloudy, a shower or two late

Mostly cloudy with showers; breezy

Partly sunny, breezy and pleasant

Periods of clouds and sunshine

Pleasant with more sun than clouds

High: 76°

Low: 67°

High: 78° Low: 64°

High: 73° Low: 60°

High: 72° Low: 63°

High: 77° Low: 68°

AccuWeather RealFeel

78° F

64° F

78°-60° F

72°-61° F

74°-63° F

79°-67° F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

almanac

ABACO

High: 73° F/23° C Low: 66° F/19° C

7-14 knots

High: 76° F/24° C Low: 65° F/18° C

6-12 knots

FT. LAUDERDALE

FREEPORT

High: 77° F/25° C Low: 68° F/20° C

N E S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 72° F/22° C Low: 60° F/16° C

High: 74° F/23° C Low: 68° F/20° C

MIAMI

High: 76° F/24° C Low: 68° F/20° C

7-14 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 73° F/23° C Low .................................................... 66° F/19° C Normal high ....................................... 78° F/25° C Normal low ........................................ 66° F/19° C Last year’s high ................................. 77° F/25° C Last year’s low ................................... 67° F/19° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 0.00” Normal year to date ..................................... 0.30”

ELEUTHERA

High: 76° F/24° C Low: 67° F/19° C

NASSAU

High: 76° F/24° C Low: 67° F/19° C N

KEY WEST

High: 75° F/24° C Low: 69° F/21° C

tiDes For nassau High

4-8 knots

Low

Ht.(ft.)

2:00 a.m. 2:13 p.m.

2.7 2.4

8:19 a.m. 0.2 8:34 p.m. -0.4

Friday

3:02 a.m. 3:16 p.m.

2.8 2.3

9:28 a.m. 0.1 9:32 p.m. -0.5

Saturday

4:04 a.m. 4:19 p.m.

3.0 2.3

10:33 a.m. 0.0 10:31 p.m. -0.6

Sunday

5:03 a.m. 5:19 p.m.

3.1 2.3

11:34 a.m. -0.2 11:28 p.m. -0.7

Monday

5:58 a.m. 6:16 p.m.

3.2 2.3

12:30 p.m. -0.4 ---------

Tuesday

6:51 a.m. 7:10 p.m.

3.3 2.4

12:23 a.m. -0.8 1:22 p.m. -0.5

Wednesday 7:41 a.m. 8:01 p.m.

3.3 2.4

1:15 a.m. -0.8 2:12 p.m. -0.5

sun anD moon Sunrise Sunset

6:56 a.m. 5:36 p.m.

Moonrise Moonset

1:07 a.m. 12:58 p.m.

New

First

Full

Last

Jan. 12

Jan. 20

Jan. 28

Feb. 4

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 68° F/20° C

High: 78° F/26° C Low: 72° F/22° C

6-12 knots

ANDROS

High: 77° F/25° C Low: 68° F/20° C

W S

LONG ISLAND

tracking map

High: 78° F/26° C Low: 70° F/21° C

Ht.(ft.)

Today

High: 77° F/25° C Low: 68° F/20° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

CAT ISLAND

at least one person. Trump has harnessed social media — especially Twitter — as a potent tool for spreading misinformation about the election. Yesterday’s riot only increased calls to ban Trump from the platform. “The President has promoted sedition and incited violence,” Jonathan Greenblatt, chief executive officer of the Anti-Defamation League said in a statement. “More than anything, what is happening right now at the Capitol is a direct result of the fear and disinformation that has been spewed consistently from the Oval Office.”

6-12 knots

MAYAGUANA High: 79° F/26° C Low: 71° F/22° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 78° F/26° C Low: 72° F/22° C

GREAT INAGUA High: 81° F/27° C Low: 72° F/22° C

N E

High: 78° F/26° C Low: 71° F/22° C

7-14 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday:

WINDS SE at 6-12 Knots SSW at 10-20 Knots SE at 4-8 Knots SW at 7-14 Knots E at 6-12 Knots S at 7-14 Knots ENE at 7-14 Knots SE at 6-12 Knots E at 6-12 Knots SSW at 7-14 Knots SE at 7-14 Knots SW at 10-20 Knots E at 6-12 Knots SSW at 7-14 Knots E at 7-14 Knots SE at 6-12 Knots E at 7-14 Knots S at 6-12 Knots ENE at 7-14 Knots SE at 7-14 Knots ESE at 4-8 Knots SSW at 7-14 Knots E at 7-14 Knots S at 4-8 Knots E at 6-12 Knots SSW at 7-14 Knots

WAVES 4-8 Feet 5-9 Feet 1-2 Feet 1-3 Feet 3-6 Feet 3-6 Feet 2-4 Feet 2-4 Feet 3-6 Feet 4-7 Feet 3-5 Feet 4-7 Feet 1-2 Feet 1-3 Feet 3-5 Feet 2-4 Feet 1-3 Feet 1-3 Feet 4-7 Feet 4-7 Feet 1-3 Feet 2-4 Feet 1-3 Feet 1-3 Feet 2-4 Feet 3-5 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 73° F 73° F 78° F 78° F 80° F 80° F 77° F 77° F 74° F 73° F 77° F 76° F 81° F 80° F 79° F 79° F 76° F 76° F 77° F 77° F 79° F 79° F 78° F 78° F