01142022 BUSINESS

business@tribunemedia.net

FRIDAY, JANUARY 14, 2022

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Pre-COVID output ‘not good enough’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

• Governor: GDP must expand to absorb new workers • But reaffirms 8% growth forecast remains for 2022 • Warns Federal Reserve ‘tightening’ could impact

THE Central Bank’s governor yesterday warned that returning to pre-COVID economic output “is not enough” as he reaffirmed forecasts that GDP will expand by 8 percent in 2022.

John Rolle, addressing the Bahamas Business Outlook conference, said the continued expansion of the workforce - with several thousand school leavers having swelled its ranks further in the two years since the pandemic began - made it imperative that this nation not merely settle for returning to 2019 gross domestic product (GDP) levels.

Predicting that The Bahamas will catch up to preCOVID output in 2023, he warned that the economy still faces potential headwinds that could throw it off this year’s growth estimates. Besides the case surge sparked by the Omicron variant, the governor said policy tightening

by the Federal Reserve and other foreign central banks to combat inflation could impact tourism demand.

But, while the Federal Reserve has indicated it could raise US interest rates three times in 2022, starting as early as March, Mr Rolle suggested “pent-up demand” among

JOHN ROLLE American travellers was strong enough in the shortterm to offset any negative Bahamian tourism industry impact from a rise in borrowing and debt servicing costs

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‘Entire economy shuts when ATMs go down’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ELEUTHERA Chamber of Commerce’s president yesterday urged the Government to stiffen “the backbone” of Bahamian-owned banks, adding: “When the ATMs go down the entire economy shuts.”

Thomas Sands, addressing the Bahamas Business Outlook conference, urged the Davis administration to “incentivise” the locally-owned institutions to establish physical branches wherever needed across the Family Islands given the vital role they play in facilitating commerce for already hardpressed economies.

Eleuthera presently has bank locations in Rock Sound

via Bank of The Bahamas; CIBC FirstCaribbean in Governor’s Harbour; Royal Bank of Canada (RBC) in Harbour Island; and Commonwealth Bank in Spanish Wells.

Noting that some Eleutherans have to travel miles to conduct their financial services business, Mr Sands said: “With these locations, when

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THOMAS SANDS

Abaco eyes Economic Council after tiring of Nassau’s ‘diktats’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ABACO’S private sector is seeking to create an Economic Development Council for the island, it was revealed yesterday, after becoming tired of being “dictated” to by Nassau.

Ken Hutton, the Abaco Chamber of Commerce’s president, told the Bahamas Business Outlook conference that no one knew better than the island’s businesses and residents how to market it as an investment opportunity to outside capital and businesses.

While the proposed Council would have “input”

KEN HUTTON from the Government, and take the form of a publicprivate sector partnership, he emphasised that it would be driven by locals as “we cannot rely on Nassau to market our island because they don’t know what it is”.

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Exchange controls to be ‘less of hindrance’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Central Bank’s governor yesterday pledged to make exchange control restrictions “less and less of a hindrance” to Bahamian investors and companies seeking capital.

John Rolle told the Bahamas Business Outlook conference that the regulator planned to employ the relaxed “framework” implemented in 2017 “a lot more as we move ahead” to enable Bahamian entrepreneurs to access overseas investment in foreign exchange-earning sectors.

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Suggesting that there are further plans to “streamline exchange controls”, although he provided no details, the governor added: “We are going to focus a lot more on making sure, in so far as the investment regime is concerned, exchange control is less and less of a hindrance to investment activity.......

“This economy depends on foreign exchange activity, and what we’re doing with foreign exchange is ensuring more stable access and, over time, the Government liberalises more areas where Bahamians have a

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Omicron ‘pushes back’ pre-COVID for tourism • Variant creates ‘rough couple of months’ for industry • Cancellations ‘going down’, online searches off 50% • Out Island hotels targeting 86% of ‘19 room revenue

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net TOURISM’S hoped-for return to 2019 business volumes this year has been “pushed back” several months by Omicron with Internet searches for The Bahamas now “half” of pre-COVID levels.

Fred Lounsberry, the Nassau/Paradise ROBERT SANDS Island Promotion Board’s president, told yesterday’s Bahamas Business Outlook conference that the industry was working feverishly to regain pre-Christmas “momentum” that had been disrupted by the new COVID variant and market confusion over the Government’s constantly changing entry/testing protocols.

Revealing that he had been told visitor cancellations “have gone down”, and bookings are improving, he nevertheless voiced optimism that the tourism industry would finish “close” to 2019 numbers for the 2022 full-year despite having to endure “a rough couple of months” due to the ongoing pandemic.

Others were more optimistic. Robert Sands, the Bahamas Hotel and Tourism Association’s (BHTA) president, that he was “bullish on 2022” and predicted that it was “going to

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PAGE 2, Friday, January 14, 2022

THE TRIBUNE

Target these areas in cultural economy B

ahamians have for many years been exploring ways to diversify our economy by seeking out new opportunities, sectors and industries. Much attention has been placed on the socalled ‘Orange’, or creative, economy.

The term ‘Orange economy’ was coined by British writer, John Howkins, in 2011. It refers to everything that is developed through people’s creativity and inspiration that becomes a good or service. The United Nations’ cultural body, UNESCO, states that the main purpose of the orange economy is the production or reproduction, promotion, dissemination and/ or the marketing of goods, services and activities that have cultural, artistic or patrimonial content.

What should excite Bahamians about the orange

economy is the fact that it complements our main industry, tourism, so well.

Each of the specific fields in the orange economy has a direct line of connection to tourism and hospitality.

This column today simply provides a list of orange economy areas that may spark an interest for the next generation of entrepreneurs reading this article: * Music, dance and entertainment. Where are the diverse musical expressions, and the businesses, that will harness these expressions for the enjoyment of locals, visitors and cultural sustainability. * Junkanoo and festivals. Our destination and nation should have matured to the point of ensuring meaningful collaboration across sectors to secure mutual benefits for participants in these festivals. * Structured tours. Locals and visitors can benefit from historic, cultural and information-based tours.

There are tons of opportunities here that are left unexplored. * The field of visual art and design (interior,

IAN FERGUSON fashion, graphic).

Art shows, exhibitions and even street art adds creative flavour to the visitor and local experience. * Straw craft, jewellery and carving art. The Bahamas has a rich legacy of straw work spanning 300 years of creative excellence.

Conch, jewellery, coconut art and wood carvings are unique art forms that

can certainly add tremendous value to the orange economy. * Creation of toys. Local toys may just be the sustainable tourism idea of the year. Boxed cart boards; kamalame boats; lignum vitae tops; homemade kites; and sling shots all bring joy to young children while reminding us of our heritage. * Video games. Our technology generation has already demonstrated the great demand out there for video games. Perhaps this is the season for them to enroll in the design and creation mode.

• NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@coralwave.com.

Advocacy group asserts 1,000 sign RCCL petition A BAHAMIAN advocacy group says it has obtained more than 1,000 signatures opposing Royal Caribbean’s $110m Paradise Island project since launching its petition last November.

Protect Our Islands Fund (POIF), in a statement, said signatories were urging the Davis administration to reconsider the Crown Land lease deals signed by the former FNM administration with the cruise line over the latter’s proposed Royal Beach Club. Others were concerned about the environmental impact, and potential income loss for cruise-reliant Bahamian businesses and workers.

Shonalee Johnson, spokesperson for the Fund, said: “Responses continue to come in through our online petition

even as critical questions remain unanswered regarding the proposed project....

“We’ve raised questions on the environmental impact of the project specifically related to waste management. Many Bahamians are now aware of the project and want to be assured that the Government will carefully consider the potential environmental impact of the project and weigh the real, incremental economic benefits against the negative impacts.

“Our government must act in the best interest of the Bahamian people and for future generations. It might be that this development on Crown Land is not in the best interest of Bahamians.”

Protect Our Islands Fund, based on its website, appears to have links and

affiliations with groups such as Save the Bays and Rights Bahamas. It also features the logo of Toby Smith’s Paradise Lighthouse & Beach Club. He and his company are embroiled in litigation against the Government over competing claims to some of the same Crown Land that Royal Caribbean is seeking.

Detailing comments received by its petition, one signer wrote: “Please protect The Bahamas [and] its land resources for this and future generations.”

Another urged the Government to review the impact the Royal Beach Club may have on the natural environment.

“Considering obvious facts that this would be very harmful to our environment, strive to keep our waters clean. Pollution

destroys the ecosystem as we all know. I believe we have enough pollution as it is, and if we are to have healthy marine life for the years to come, we must prevent such harmful causes,” they added.

Another petition signer added: “[The Government must] protect our environment, be guided by the input of Bahamians on this project. Let this project be done to benefit Bahamians and The Bahamas, not to just [create] low paying jobs and lifelong environmental damage.”

And one asked: “If RCCL wants to invest in Nassau, why don’t they buy land east of East Street and develop restaurants and entertainment options for cruise passengers and Bahamians alike?”

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Friday, January 14, 2022, PAGE 3

PM urges business: Put Bahamas before profits

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Prime Minister yesterday challenged the private sector to place national development before their own interests as he called for a renewed focus on unlocking the cultural economy.

Philip Davis QC, addressing the Bahamas Business Outlook conference, called on businesses to “look beyond short-term, narrow profit” in working with the Government to resurrect and transform the economy for the entire society’s benefit.

Urging entrepreneurs and business owners to ask themselves what they can to to revive commercial activity in the COVID-19

pandemic’s wake, Mr Davis urged them to play a role in the Government’s proposed energy, ease of doing business and other reforms that will “increase growth and improve economic justice and dignity for all Bahamians”.

“As we seek to diversify the economy, to facilitate and promote growth in the new orange, green and blue sectors, what can you do to support the many Bahamians, especially those in the Family Islands, who continue to struggle with high levels of poverty and unemployment?” the Prime Minister challenged the business community.

“Are you able to look beyond short-term, narrow profit to see the possibilities of broader long-term gain? How can you help to drive down the cost of living to support the common

wealth and the common good?”

Pointing to what he described as the substantial “hunger for change” among Bahamians, Mr Davis argued that his administration’s Blueprint for Change election campaign manifesto reflected the public’s desire for “positive, compassionate national development; one that meets the needs and aspirations of the many, not just the few”.

In an address that contained little that was new, and was also short on specifics, the Prime Minister continued to pose questions of the private sector. “How will you strive for a more just and inclusive workspace? What measures will you take to do away with anti-competitive practices? And how do you plan to ensure your business

affords respect and dignity to all its workers?,” he asked.

“Whether it is in establishing youth-targeted internship programmes, increasing the base salary for your entry-level workers, ensuring pay parity in your workplace, or supporting social campaigns, there are countless first steps that the private sector can take.”

After placing the onus on businesses, Mr Davis urged them to focus on developing the so-called ‘orange’ or cultural economy, which emphasises sectors such as music and the visual and performing arts. “We want our culture to sit at the heart of our tourism offering, and at the centre of our national life,” Mr Davis said..

“The Orange ‘creative economy’ represents one of the greatest fiscal opportunities for our country.

By weaving robust cultural policy into our national development plan, we aim to develop supportive frameworks which nurture Bahamian cultural workers and allow them to excel.

“Our vision is to celebrate and market Bahamian culture – from sloop sailing to Rake n’ Scrape – as the main tourism product, nominating cultural ambassadors to promote the country around the world.

A 52-week schedule with ‘world-class’ creative events promises to further invigorate both the national tourism industry and local island economies.”

Mr Davis called for the creation of a tertiary-level School of Visual, Performing and Recording Arts to help spur The Bahamas’ efforts to monetise its culture, and develop it into a series of sectors that

ABACO EYES ECONOMIC COUNCIL AFTER TIRING OF NASSAU’S ‘DIKTATS’ FROM PAGE ONE Urging other major Family Islands, such as Exuma and Eleuthera, to create a similar organisation and structure for their islands, Mr Hutton said: “We’re looking at forming an Economic Development Council for Abaco, run by the private sector with input from the Government.

“We need to be able to attract investment to our island, go out and say: ‘This is what Abaco is’ just as Eleuthera would go out and say this is what Eleuthera is. We cannot rely on Nassau to market our island because they don’t know Abaco is,.

“We can go out and say: ‘You need to come to Abaco’. These are the opportunities in tourism, agriculture, infrastructure, housing. This is one of the things we need to be working on, and this is being worked on at the Abaco Chamber,” he continued.

“We believe that if this is done correctly it will be a good partnership between the private sector and the Government to bring back our island.” Mr Hutton also hinted that the Council idea was born out of growing Abaco frustration with the Government that was further heightened by the latter’s decision to end the VAT break on construction services for Hurricane Dorian reconstruction.

“We need the Government and the private sector working together,” he said. “After two years we’re still receiving diktats from Nassau on how things should work in Abaco.

There’s been no consultation with the business community, who are the taxpayers.

“Decisions are being made in hallowed halls in Nassau with no consultation with the business community, and that needs to change.” He spoke out after the latest Disaster Reconstruction Authority

(Special Economic Recovery Zone) Order 2022, which took effect on January 1, revealed that the VAT ‘zero rating’ treatment for construction services came to an end on New Year’s Eve. Services provided in 2021 must have been invoiced before year-end, and paid in full by end-March 2022, for the VAT relief to apply.

The end to the ‘zero rating’ means home owners and businesses in Abaco and Grand Bahama will now have to pay 10 percent VAT on contractors’ labour and other service costs.

This creates a potentially significant hike in rebuilding costs, as labour typically accounts for around 50 percent of the contractor’s total price, with the move also acting as a potential incentive for homeowners to ‘go it alone’ and not hire construction professionals - something that could compromise the standard and quality of the rebuilding.

Mr Hutton, while confirming that all other concerns surrounding Dorian-related tax relief have been resolved until December 1, 2022, added yesterday: “We do have an issue that VAT on construction service has not been renewed.”

He said this meant the 10 percent levy will now be applied to bills/invoices submitted by the likes of roofers, air conditioning and tile specialists as well as general contractors. “That acts as an additional cost to rebuilding,” the Abaco Chamber chief said.

“It’s not just affecting a few high-end homeowners or investors; it’s affecting the average homeowner. If you go to Murphy Town, Dundas Town, Spring City, Central Pines, we still have about 40 percent of Bahamian domestic structures destroyed.

“The vast majority are rebuilding from their own pocket. They don’t have bank loans, the insurance money has dried up. People are funding the rebuild from their own pockets.

That 10 percent on costs is a big hit. We’re lobbying very heavily for the Government to reconsider that. The entire community is behind us.”

The Ministry of Finance, in a statement responding to the outcry, pointed out that VAT and other tax breaks on physical goods imports, such as building materials; furniture; furnishings and appliances; hardware supplies; electrical fixtures and materials; and plumbing fixtures and materials had been extended until December 1, 2022.

However, it seemed to imply that the reimposition of VAT on construction services would only impact a

can drive future economic growth.

“How can your business contribute to, and benefit from, this vision? If harsh truths govern our present, a simple, nobler truth is that our culture is our future. It is who we are, today and tomorrow. It is the future of our country, our islands, and our individuality. Investment in the orange economy will be key if we ever hope to forge a reasonable future for ourselves,” he added.

The Prime Minister also called on investors to focus on projects that “lift up the Bahamian people”. He added: “What entrepreneurial opportunities can be explored to produce a more agile, better educated and, ultimately, more empowered population? There are the headline-grabbing ones in technology, in bitcoin and blockchain.

small minority of wealthy homeowners who could afford to pay the tax. “It should be noted that the vast majority of persons in the impacted areas, in repairing their property, will purchase materials and employ labour to effect the repairs,” the Ministry of Finance said.

“With the extension of the SERZ Order, those persons will not be affected because building materials will remain tax free and VAT is not charged on labour in these circumstances. The removal of the zero-rating on construction services is expected to impact a minority of cases, mostly high-end properties.

“The Ministry of Finance will continue to process applications for relief under the SERZ on a case-bycase basis and consider any application for special consideration on its merits.”

PAGE 4, Friday, January 14, 2022

STANDARDS REGULATOR GAINS TESTING BOOST

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Bahamian standards regulator yesterday received grant funding from a Caribbean financial institution to boost its ability to test product quality and ensure consumers receive what they pay for.

Senator Michael Halkitis, minister of economic affairs, said the funding from the Caribbean Development Bank (CDB) will enable the Bahamas Bureau of Standards and Quality (BBSQ) to ultimately develop a metrology laboratory that can measure, and verify, the mass and volume of products offered for sale to the Bahamian public.

“When it comes to how metrology is conducted throughout The Bahamas, I cannot sufficiently stress the importance of having reliable metrology services

in our country. We must have certified metrologists; prime infrastructure to conduct testing services across the public and private sectors,” Mr Halkitis said.

“Such services include testing the compression of building materials like concrete blocks; testing thermometer readings to ensure the safety of imported and exported food products; and testing mass equipment for logistical transportation.

“Following these scenarios, we began to see metrology as an essential component of building a sound National Quality Framework. Thus far, the BBSQ has done an excellent job with administering metrology services. But the establishment of this new laboratory and the expansion of the metrology unit will translate into even greater proficiency and efficiency.”

Such product testing and measuring also helps

MICHAEL HALKITIS confirm to consumers that Bahamian-produced products meet international standards in areas such as health and safety, thereby aiding the ability of local companies to penetrate export markets.

Mr Halkitis added: “This grant will be used to facilitate the following needs: The procurement of a consulting firm to conduct a comprehensive metrology needs assessment, [and] to undertake an assessment

of the regulatory and institutional framework for metrology in The Bahamas and make recommendations for closing any gaps identified.

“Secondly, procurement and installation of laboratory equipment to provide basic metrology services according to industry recommendations,.

The aforementioned consulting firm will also develop technical specifications for the equipment, and support procurement, installation and training on the operation of the equipment.

“Thirdly, completion of a communications consultancy to build awareness amongst the public of the maturity of the metrology services offered by the BBSQ. A diverse steering committee has been established to guide this project to fruition.”

That committee features representatives from the Ministry of Economic Affairs; the Bahamas

Society of Engineers; the Bahamas Trade Commission; the BBSQ and its Standards Council; the Bahamas Chamber of Commerce and Employers Confederation; and two private sector representatives from industries that benefit from metrology services.

The project, already started in November 2021, is expected to take 18 months to complete. Thus,

by May 2023, The Bahamas should expect to have its first metrology laboratory fully completed.

Dr Renae Ferguson-Bufford, the BBSQ’s director, said the laboratory has been years in the making. It has now been made possible

by CDB financing and the European Union’s (EU) 11th development grant financing round.

The project will address the BBSQ’s immediate needs, and aid in expanding the Bahamas’ quality infrastructure and business environment. This aids

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both exporters and local businesses in increasing the provision of quality, reliable, safe, sustainable and resilient infrastructure.

Successful implementation of the metrology laboratory will also lead to an increase in the standards of commodities and processes used in production locally The project will also support, through enhanced capacity at the BBSQ, increased competitiveness in the private sector.

With support from the European Partnership Agreement (EPA) and Caribbean Single Market and Economy (CSME) standby facility for capacity building, managed at the CDB and financed by the EU, it is anticipated that improvements to the current business environment and contributions to a more resilient Bahamas will be helped by the BBSQ’s ability to provide calibration and testing services.

Commission confident over digital regulation

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Securities Commission’s top executive has voiced confidence it has “the capacity” to properly supervise the growth of the digital assets business in this jurisdiction.

Christina Rolle, the regulator’s executive director, told Tribune Business that the Digital Assets and Registered Exchanges (DARE) Act had provided the necessary legislative framework to handle the potential surge in applications from Fin-tech (financial technology) based businesses eager to establish a presence,

and do business in, The Bahamas.

“With the Securities Commission, we have a specific framework for firms that we thought appropriate to regulate. And in as much as those firms would fall within that framework, then yes, we do believe that we have the capacity to regulate them,” she added.

Ms Rolle was referring to the latest Fin-tech startup, Agio, which will be launched later this month.

The firm says it is seeking to exploit the so-called ‘Web3’ space and will be a conduit for individuals looking to invest in the digital assets market.

Web3 refers to the development of the Internet, and the decentralisation that it facilitates in enabling blockchain development.

Blockchain provides a mechanism to record

transactions made in bitcoin or another cryptocurrency, with records maintained across several computers that are linked in a peer-topeer network.

Ms Rolle said that as a result of the DARE Act there are “more companies that have submitted applications to the Commission for review. We are seeing some applications coming forward”.

She added: “Since the initial registrant (FTX Trading) we have two more

under DARE, and we also have registrants under the Financial and Corporate Services Providers Act that are in the digital asset space.”

DARE regulates exchanges and the issuance of digital tokens, while the Financial and Corporate Services Providers Act regulates digital wallet providers and custodians of digital assets.

THE TRIBUNE

Friday, January 14, 2022, PAGE 5

WORKER ‘SKILLS Small Business Centre facilitates $70m funding GAP’ LEAVES 60% OF FIRMS STRUGGLING

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net SIXTY percent of Bahamian employers are struggling to find workers with the skill-sets and attitudes that will make their firms globally competitive, a prominent educator reiterated yesterday.

Dr Robert Robertson, the Bahamas Technical and Vocational Institute’s (BTVI) president, told the Bahamas Business Outlook conference that the results from a recent survey it conducted showed employers feel there is a “significant skills gap” that is inhibiting productivity and their company’s ability to grow.

“That’s fairly important data. It provides us with a sense of what the challenges are. But, as we’ve heard through these sessions, it also affords us with an opportunity,” he said.

“The skill sets that are being looked at are not unique to The Bahamas.

Other countries have similar skills gap issues that they face, and the skills that are mostly in demand from the Bahamian survey are both soft skills and hard skills.”

Pointing to “soft skills”, such as being able to incorporate administrative methods into daily work life, Dr Robertson said this “pivot” has created “high demand” for more office skills.

He added: “We currently have about 6,000 students (enrolled), and that’s important because that’s almost record capacity. So people are essentially voting with their feet to take the types of courses that we offer.

We do have four physical campuses - Grand Bahama, New Providence, obviously, Andros and Abaco. The campus in Abaco will be re-started in the next few weeks.

“We’re just about at record numbers; we’re at currently just over 6,000.

This spring term looks like it will be a record number,

and my sense is that we will hit 7,000 students this term because we will offer a series of short courses.

“So that number probably will be at 7,000 by the end of this spring 2022 term.

So in terms of our response, and in terms of where the kind of future of careers is going, from our perspective we’ve increasingly offered short, flexible and stackable certified courses. By certified, I mean they’re industry recognised. This is particularly important,” Dr Robertson continued.

“This is something we see coming from the survey data that I had briefly explained earlier. Employers are looking for these certifications. In addition, partly because of COVID, but also because of the directions we were taking, we increasingly offer virtual opportunities country-wide and I think that’s also important.”

Speaking further to virtual opportunities, Dr Robertson said there were many digital courses being offered by BTVI. “We have heard quite a bit about digital courses and the importance of digitisation in the Bahamian economy and the global economy,” he added.

“We have a series of short courses. I’m not talking about courses that go from traditional terms, September to December and January to April. These are short courses that are stackable. You can take a course for a couple of weeks, basically drop away, come back, take another course.

“Increasingly that’s what the non-traditional students of 2022 are telling us is important for them.

So these are nano courses.

You can take some of these within basically four weeks.”

These “nano courses” offer certifications from the likes of Cisco, CompTia and City and Guilds.

Participants receive badges for participation once they have completed something that is industry certified.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, RICKEISHA KRISHAN ADDERLEY of Calvin Street in the Eastern District Nassau, Bahamas, intend to change my name to RICKIESHA KRIS KIE ADDERLEY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, BLAIR PATRICK JAYSON MAJOR-ROLLE/ BLAIR PATRICK JAYSON MAJOR ROLLE of Eastern District Nassau, Bahamas, intend to change my name to BLAIR PATRICK JAYSON MAJOR. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

THE Small Business Development Centre (SBDC) has facilitated more than $70m in financing to its target clients, its top executive said yesterday, with 90 percent of that sum representing debt funding.

Davinia Bain, the SBDC’s executive director, told the Bahamas Business Outlook conference that the agency wished it could diversify into other forms of financial assistance to the country’s small and medium-sized enterprise (SME) sector.

She added of the financing facilitated to-date: “That is not patient investment.

There’s nothing patient about that. That was necessity. We had to get money in the hands of entrepreneurs to change what was happening in our country.

We couldn’t not do it, we had to. So, in that impatient environment, that was the only way we can empower Bahamians - through their businesses.”

Ms Bain also urged Bahamians to act as ‘angel investors’, and invest surplus savings in entrepreneurs and small businesses with solid growth plans.

“I want to inspire those of you who just got your asue draw, and you weren’t sure where you will put that $10,000, to go find the next entrepreneur for you to be an angel, too,” she said.

“Or you just got your retirement package, and you’re not too sure what to do. I want you to go and find some Bahamian entrepreneur to be an angel to in the high-risk stages of development of a business.

The reason why we need more angel investors rather than that, or any other type of investment, is because we need patient money.”

She based her call for “patient capital” investment focus on the accelerated shift to conducting business digitally that has been driven the COVID-19 pandemic. This transformation, though, can be complex, and revenues from technology-based businesses are “unpredictable”.

Ms Bain added: “Tech revenues are often not

predictable. There are no streams unless you are actually producing streaming, and even then, to produce streaming. the tech development itself could take a year, two years, three years before you see the first consistent piece of revenue. That type of innovation is very difficult to fund through that “We need angel investors, to literally take the phrase, ‘to be an angel’; to assist with a shift in the way entrepreneurs plan. It’s actually frightening to see the way a business person will adjust their strategies to fit your impatient investment,because they think you want the returns now, and they have to make a payment.”

CANADA TRADE MISSION AIMS TO BOOST COMMERCIAL LINKS

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net TEN Canadian firms, in sectors ranging from construction to transportation, began a three-day virtual trade mission to The Bahamas in a bid to further boost commerce between the countries.

Emina Tudakovic, Canadian high commissioner to The Bahamas, yesterday told the Business Outlook conference that the trade mission’s focus was on how Canada’s focus on “Smart Cities” could aid development in this nation.

“The Smart Cities conversation explores the best practices of smart,

sustainable cities in implementing frontier technologies in the Caribbean,” she said. “I’m also very pleased to be bringing again this year a delegation of ten Canadian firms, who will be engaged tomorrow [today] in one-on-one strategic business meetings with Bahamian public and private sector representatives as well as academia.”

Ms Tudakovic described The Bahamas as “one of Canada’s leading merchandise trading partners among the Caribbean Community”.

Bilateral trade in merchandise, or physical goods and services, totalled $159.3m in 2020, with exports valued at $151.2m and imports at $8.1m.

Canadian foreign direct investment (FDI) in The Bahamas, featuring primarily the Canadian-owned banks, amounted to $20.2bn in 2020. “This two-way trade between Canada and The Bahamas continues to be significant, and it has generally grown over the years. Merchandise trade has included mineral food, animal and vegetable products,” the high commissioner said.

Companies involved in the Canadian trade mission include the likes of DBO International and Harbourside Engineering Consultants. They offer systems and solutions including high performance buildings, building envelope kits and other structures.

“Off-grid developments including storage offering technologies, civil infrastructure, conventional industrial sectors and transportation projects, including commercialisation through public-private partnerships, and alternative delivery methods,” Ms Tudakovic said.

“Renewable energy to support ongoing efforts to contribute to cleaner, safer and more sustainable energy and water sectors and, finally, consulting, architectural and engineering practices and transportation involving technical bridge and marine engineering, water, wastewater, infectious waste treatment, energy efficiency, resilience and sustainability projects.”

LEESWAY PARTNERS INC. Company No. 641051 (In Voluntary Liquidation) NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that LEESWAY PARTNERS INC. is in voluntary liquidation. The voluntary liquidation commenced on 7th January 2022 and Mag. iur Andreas Frenes of Unterbüntelstrasse 2, 9443 Widnau, Switzerland been appointed as the Sole Liquidator.

Dated this 7th day of January 2021 Sgd. Mag.iur Andreas Frenes Voluntary Liquidator

PAGE 6, Friday, January 14, 2022

PRE-COVID OUTPUT ‘NOT GOOD ENOUGH’ FROM PAGE ONE

in its major visitor source market.

Conceding that the need for “healthier economic growth” was among the key lessons for The Bahamas from the pandemic, he said: “If we look at 2022, that’s the period we’ve just begun, our economy is going to be very much in recovery mode.”

With the economy having started to “recoup growth” lost to COVID-19 in 2021, following a 2020 in which GDP was considered to have shrunk by up to $2bn, Mr Rolle added: “We expect in 2022 that The Bahamas will grow in the region of 8 percent or just above that.

“That still reflects that we’re trying to get back to where we were in 2019, and expect to conclude this recovery to 2019 in 2023.” The 8 percent GDP expansion forecast would be among the highest annual growth rates ever achieved by The Bahamas if attained. However, it merely represents ground being recovered that was lost to COVID-19 in 2020

and is not forecast to be sustained.

And while The Bahamas was likely to “get back to full capacity” before the 2024 timeline forecast for other Caribbean and tourism-dependent economies, Mr Rolle said this nation must strive for further and higher - annual GDP growth and not rest on its laurels.

“Getting back to 2019 is not enough,” he warned Business Outlook attendees. “We are making whole people who participated in the economy in 2019, but people have continued to join the labour force and some of what is ahead of us is ensuring the economy grows to absorb new entrants into the workforce.

“What the pandemic has taught us is we want healthier economic growth.

Part of the reset is making changes and reforms that make the economy more agile, and position the economy to grow faster in the future. Not all of that is an overnight change.”

The Bahamian economy was failing to achieve sufficiently high growth

rates to fully absorb all annual school leavers into the workforce even prior to Hurricane Dorian and COVID-19, meaning that these two events will only have worsened this problem.

Besides the need to “take control as much as possible of factors in our direct reach” when it came to managing the COVID-19 pandemic, Mr Rolle warned that inflation - representing a sustained increase in the cost of goods and services will be “an issue for us” in 2022 both domestically and internationally.

“We have to be mindful of how the Federal Reserve and central banks respond to fighting inflation in those countries,” he added.

“While we see tourism as still having a lot of pentup room for expansion, we have to be mindful of the Federal Reserve increasing interest rates to combat inflation.

“That will impact growth and filter through to the demand for tourism. But, in the short term, there is a lot of pent-up demand for tourism that will not be

impacted by the tightening of policy in the US.” Any increase in US interest rates would raise borrowing and debt servicing costs, leaving Americans with less disposable income and spending power, and causing them to feel less well-off. The US inflation rate in December stood at 7 percent year-over-year, while also increasing month-on-month by 0.5 percent.

That represented the seventh consecutive month in which US inflation has exceeded 5 percent, reducing the hope that the price/ cost increases were a temporary phenomenon caused

by COVID and the supply chain crisis. Bahamian domestic consumers, too, will not be immune from inflation’s impact here in 2022.

“We expect Bahamians will see more of the inflation that is happening outside The Bahamas. We will see it in the goods and services we import,” Mr Rolle said. “We shouldn’t expect a one:one relationship between our inflation and US inflation. Inflation

is a reflection of the goods and services we consume and, in the case of The Bahamas, our consumption basket is different from the US.” The Central Bank governor argued that hours worked in the hotel and tourism industry are a better indicator of employment than actual job numbers, suggesting that underemployment was a better benchmark through which to determine the workforce’s post-COVID rebound.

Focusing solely on employment numbers “might mislead,” Mr Rolle said, adding that hours worked in the sector would likely continue to increase throughout 2022 as tourism rebounds. The industry’s workers had also experienced the “greatest setbacks” to their personal finances as a result of the pandemic, but would start to catch up on their debts and bills this year.

The Central Bank governor also disclosed that The Bahamas’ foreign currency reserves, which underpin the one:one fixed currency

OMICRON ‘PUSHES BACK’ PRE-COVID FOR TOURISM FROM PAGE ONE

be a banner year for The Bahamas”.

And Kerry Fountain, the Bahama Out Islands Promotion Board’s executive director, told conference attendees he was forecasting that member properties will collectively generate room nights sold equivalent to 96 percent of what they achieved in 2019.

As for total room revenues, he is predicting they will be 86 percent of what was achieved in that last preCOVID year.

“Short-term, obviously we’re getting through this rough patch of water we’re dealing with right now with Omicron, its impact on travel and communicating the benefits of the destination to customers to build demand,” Mr Lounsberry said. “We are seeing short term impact as we go through the next few weeks.

Short-term we have to build back demand, which

impacts airlift short-term and long-term......

“We continue to build the story and narrative for groups. Groups are a critical piece of the tourism pie that have suffered greatly. They continue to show support for the destination, but obviously what is going on now is going to push that back.”

Pre-COVID, groups, meeting and conventions accounted for around 30-40 percent of all business for major Bahamian resorts with conference centres, representing a solid and predictable booking block around which other guests are fitted. However, this market segment is arguably the one COVID has impacted most of all given the need to social distance and meet other health protocols.

However, Mr Lounsberry said Omicron’s impact has not just been confined to The Bahamas’ group business. “We’ve all talked about 2019 [numbers] being back in 2022 and, quite

KERRY FOUNTAIN frankly, that’s been pushed back,” he added. “We had good momentum going into the end of the year, which saw everybody quite optimistic, and then came Omicron and testing challenges with that.”

Referring to traveller confusion over the revised COVID testing and entry protocols that The Bahamas released before Christmas, and which the Government subsequently altered by

abandoning RT-PCR tests for vaccinated travellers, the Nassau/Paradise Island Promotion Board chief said it was critical not to put “unnecessary” obstacles and impediments in the way of visitors.

Mr Lounsberry said “literally the phone starts ringing” the moment any such entry/testing protocol changes are announced, and the Bahamian tourism industry needs sufficient time to alert its airline and travel partners so they can communicate the adjustments to their customers.

“The role of government is to protect its citizens and the destination, but also to facilitate travel,” he added.

“We have a big job ahead of us in 2022. We’re on a good track now. We had a setback with the Omicron situation, but from everything I’m hearing cancellations have gone down and bookings have improved. Hopefully we can get that momentum going again...

“A statistic I got this morning is that it’s still impacting demand to travel.

Search demand is half of

what it was in 2019. It’s improving a little as we go forward. We’re still not out of the woods. There’s no way to candy coat this. We’ve a long way to go. We’re doing everything we can, but the impact through 2022 is going to be a challenge.

“We’re going to get through it. The hotels and everybody are very enthusiastic. Nobody is thinking about throwing in the towel or anything crazy like that.”

Voicing hope that there would not be any further COVID variants “to put cold water on everything we’re doing”, Mr Lounsberry said the industry was getting “a bit fatigued” and wanted to put the pandemic behind it.

“I think we’re turning the corner,” he added. “The numbers are recovering slowly, but we recognise that if we get group momentum back by Spring it will make 2022 a very good year.....

The market is out there.

They want to come to The Bahamas. The folks in the US, the UK love The Bahamas and they can’t wait to come back.

“I think we’re going to have a bit of a rough couple of months, and then come back. I think we will get close to 2019, but had a setback for the first couple of months. The pent-up demand is still out there.

It’s been on again, off again, and if we do our part we will have a good 2022.”

Meanwhile, Mr Sands said he was more confident on The Bahamas’ tourism prospects for 2022. “I think 2022 is going to be a banner year for The Bahamas,” he added. “I’m very optimistic.

Our tourism industry is very

THE TRIBUNE

peg with the US dollar, had finished 2021 at $2.4bn, which he described as “the highest level at which we’ve closed a calendar year”.

While the Government’s foreign currency borrowing during the pandemic drove much of the external reserves growth, Mr Rolle said the regulator expected that increased economic activity would drive a drawdown on that stockpile in 2022. “That translates into the Central Bank’s comfort that it’s able to absorb increased spending from the population,” he added of the reserves.

Mr Rolle said “one area of the economy that will not see much traction” in 2022 is greater commercial bank lending, adding that the sector faced a “more drawn out path” to recovery that will depend on how rapidly its existing borrowers rebound.

The credit bureau’s initiation of the first-ever credit scores and reports will also “have some impact”, but Mr Rolle said its start will bring longer-term benefits to the provision of credit in The Bahamas.

resilient and there’s significant pent-up demand.

Mr Fountain, too, said the forecast was for continued recovery among the Out Island Promotion Board’s member hotels, with those on islands such as Exuma and Eleuthera set to fare best and see the greatest growth. Not all properties, he added, would see growth in 2022 with some only maintaining their postCOVID recovery.

Ian Rolle, the Grand Bahama Port Authority’s (GBPA) president, who also heads the island’s Tourism Board, described 2022 as “a very promising and hopeful year” despite the multiple Dorian and storm-related setbacks the island has suffered.

He said the Carnival cruise port was set to “break ground” this year after issues with the protracted permitting process were overcome, while Royal Caribbean’s deal with Freeport Harbour for the cruise port expansion was expected to make similar progress.

Bahamas Paradise Cruise Line’s first Margaritavillebranded cruise ship was set to make its maiden voyage to Grand Bahama on April 20 this year, Mr Rolle said, adding that the Tourism Board was hoping the Jimmy Buffett-inspired label would get involved with other activities on Grand Bahama.

The GBPA chief said the Western Atlantic University School of Medicine was now talking to the GBPA about a second $20m expansion, having completed the $30m first phase, while the Grand Bahama Power Company was having meetings with two independent power producers (IPP) interested in supplying it with renewable energy.

THE TRIBUNE

Friday, January 14, 2022, PAGE 7

‘ENTIRE ECONOMY SHUTS WHEN ATMS GO DOWN’ FROM PAGE ONE

they open they are overwhelmed by the numbers outside the door. When the ATMs (automated teller machines) go down, it essentially shuts down the entire economy.

“Banking is a major challenge, and what we’re seeing in Eleuthera is that the Canadian-owned banks have made up their minds to exit the Family Islands and downsize in The Bahamas. We live in the Family Islands and understand the challenge of doing business here. As we move forward, part of the solution is to incentivise the Bahamian banks to be our backbone.

“We hope they won’t leave us. Whatever concessions are needed to make that happen short and long-term, the Bahamas government needs to make that happen. If we have positive commerce, we will have a positive return,” he continued.

“These Bahamian banks, incentivise them to be here.

Bank of The Bahamas, let’s get it together. Encourage international partnerships with that institution and incentivise it to be in places where we need banking services.”

The past decade has seen a steady consolidation and downsizing of the Canadian-owned banks’ branch

networks in both New Providence and the Family Islands, as RBC, CIBC and Scotiabank all seek to cut costs and achieve economies of scale by exiting loss-making bricks and mortar locations while driving customers to digital and online banking channels.

However, this has raised fears that many of the less-populated islands will become “banking deserts”, with residents struggling to access routine financial services and get to grips with online banking, even though digital payment providers such as Omni Financial Services, Island Pay and Sun Cash are moving to fill the gap. Basic commerce for businesses is also being impacted.

Mr Sands, meanwhile, said the failure to include Family Islands in the decision-making process on projects targeted at their respective locations meant The Bahamas was failing to maximise its capture of foreign direct investment (FDI) dollars while also neglecting “to empower” local communities.

Citing the proposed $350m Disney Cruise Line port at Lighthouse Point as a prime example, he added that the major contractor, American Bridge, was only now starting to seek worker housing and mobilise equipment on Eleuthera.

CALL 502-2394 TO ADVERTISE TODAY! February Point Resort Estates in picturesque Great Exuma is seeking applications for the following positions: - Property Manager - Food & Beverage Manager - Landscaping Irrigation Technician Qualified persons are asked to send their resumes to the following email address:

klightbourne@februarypoint.com

NOTICE NOTICE is hereby given that NORMAN V. McFARLANE of #88 Gilbert Street, Kennedy Sub Division, Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 7th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau,

NOTICE NOTICE is hereby given that RENEL JOSEPH of Yellow Elder, Lightbourne Street, P.O. Box N356 Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 14th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that NATALIE CLAIRE ASHFORD-HODGES of Deep Creek, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 14th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Arguing that the project had been “in limbo for the last two to three years”, with seemingly no major decisions made to progress it, Mr Sands said the failure to keep Eleutherans informed had left the island ill-placed to obtain all the potential benefits.

“The community is not prepared, and could not prepare as there was no definitive answer as to when it would start and there was no contract with anybody to provide product,” the Eleuthera Chamber chief argued. “We encourage it, we support it, but we have to prepare our communities in advance. Knowing in advance is key.

“When major developers come in, they need services tomorrow; they’re not going to wait. If we as a country are going to retain as much of the FDI as possible and keep putting it in the hands of Bahamians, we need to engage Bahamians in a real positive way. The reset is we have to empower Bahamians, empower communities.”

Noting that a friend from the UK, who had not been in Eleuthera for 15 years, had recently produced a newspaper report featuring a discussion on the same

issues back then, Mr Sands said: “The time is now.

Eleuthera is on the cusp of real major investment..... but how are we empowering Bahamians to have the greatest chance and reinvest in our communities?

The reset is now.”

While investments such as Disney’s were set to make Eleuthera “a truly better place than it has been for many, many years”, Mr Sands said local businesses were operating at a disadvantage because of the high input costs they faced. The barriers to entry for new businesses, as a result, were unsustainably high.

Pedro Rolle, the Exuma Chamber of Commerce’s president, told the same conference that his island and others frequently faced “manpower challenges” and skilled worker shortages when meeting the demands of foreign direct investment (FDI) projects because such developments were imposed from Nassau without proper consultation.

As a result, Exumians too often found themselves “supplementing” labour imported from elsewhere in The Bahamas and overseas when, Mr Rolle argued, it should be the other way around with outside

workers supporting those hired on the island.

“We are kind of blessed but at the same time cursed.

It’s the same old song; we’ve just got to be singing a different verse,” he said.

“These challenges exist because no consultation is made with locals. Local governance is key to this.”

Too often, Mr Rolle said, Family Islands were informed “six months down the road” and “it’s a scramble to get things done” and educate residents on the economic opportunities

that may be available to them.

“It’s a disservice to the local economy,” he added.

“We have to import people.

I know people will say they are also Bahamians, but to help the local economy we need to use the skill-sets on the ground and then supplement them.

“We are importing the skill-sets and supplementing with locals. I accept this is a challenge, but we are going to be discussing this ten years from now if we do not have local input into decision-making.”

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, DEONDRA LEE COOPER of Tudor Garden, Nassau, Bahamas, intend to change my name to DEONDRE LEE COOPER. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

THE TRIBUNE

Friday, January 14, 2022, PAGE 9

EXCHANGE CONTROLS TO BE ‘LESS OF HINDRANCE’

FROM PAGE ONE

thirst to invest and do so outside The Bahamas.”

Mr Rolle said the Central Bank planned to build on the exchange control relaxations unveiled in 2017 which opened up certain areas of the economy, and the businesses in them, to greater investment from overseas players.

“We revised a lot of the exchange control restrictions for small and medium-sized businesses being able to raise funding in foreign currency,” he recalled. The governor said there were 12 areas in total, including renewable energy,

tourism and financial services, that were especially targeted by this policy change.

“We said to the business community: If you’re dealing with foreign funding or taking on a partnership, the exchange control regime exists to facilitate the [consummation] of those activities, particularly where it will improve The Bahamas’ ability to earn foreign exchange,” Mr Rolle said.

“What’s important now is to use this framework a bit more as we move ahead.

When we did the liberalisation, we didn’t wake up

the long-term, “appreciation that access to foreign funding channels exists for Bahamians.

“We’re going to do more around that,” Mr Rolle continued. “We want the business community to understand that, in so far as strengthening the foreign exchange side of the economy, we are open to a wide range of activities which increase funding.

“It’s very important that in this process we are putting together projects that attract viable funding and business partners. I believe the equity route is very important in this.

JOHN ROLLE the next day and anticipate an influx of funding...” He added that the goal was to give investors and entrepreneurs, as they planned for

“The equity route is very important to exchange control because these investors can provide financing for Bahamas-based business activities understanding the Bahamian legal system protects them and enforces their rights around their investment.”

Mr Rolle said one consequence of greater exchange control liberalisation is that The Bahamas will find itself “competing more and more for Bahamian capital” that it can retain for investments in the local economy.

Elsewhere, he added that The Bahamas needs “to double down and

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 70° F/21° C Low: 45° F/7° C

TAMPA

SATURDAY

SUNDAY

MONDAY

TUESDAY

Winds gradually subsiding

Patchy clouds

Partly sunny and comfortable

Mostly sunny, breezy and pleasant

Cloudy with winds subsiding

Mostly cloudy with a bit of rain

High: 74°

Low: 60°

High: 76° Low: 63°

High: 78° Low: 68°

High: 75° Low: 61°

High: 73° Low: 64°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

72° F

63° F

78°-63° F

77°-63° F

73°-58° F

72°-63° 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.

N

almanac

E

W

ABACO

S

N

High: 71° F/22° C Low: 62° F/17° C

10-20 knots

S

High: 72° F/22° C Low: 49° F/9° C

12-25 knots

FT. LAUDERDALE

FREEPORT

High: 73° F/23° C Low: 54° F/12° C

E

W S

E

W

WEST PALM BEACH

N

| Go to AccuWeather.com

TONIGHT

High: 70° F/21° C Low: 50° F/10° C

High: 71° F/22° C Low: 59° F/15° C

MIAMI

High: 73° F/23° C Low: 54° F/12° C

7-14 knots

KEY WEST

High: 73° F/23° C Low: 65° F/18° C

ELEUTHERA

NASSAU

High: 74° F/23° C Low: 60° F/16° C

Forecasts and graphics provided by AccuWeather, Inc. ©2022

N

uV inDex toDay

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

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

5:19 a.m.

5:29 p.m.

2.5 1.9

11:50 a.m. 0.3 11:32 p.m. 0.0

Saturday

6:02 a.m.

6:14 p.m.

2.6 1.9

12:33 p.m. 0.2 ---------

Sunday

6:43 a.m.

6:55 p.m.

2.7 2.0

12:15 a.m. -0.1 1:14 p.m. 0.1

Monday

7:22 a.m.

7:36 p.m.

2.8 2.0

12:56 a.m. -0.1 1:52 p.m. 0.0

Tuesday

8:00 a.m.

8:15 p.m.

2.8 2.1

1:36 a.m. -0.2 2:30 p.m. 0.0

Wednesday 8:37 a.m.

8:54 p.m.

2.8 2.2

2:15 a.m. -0.2 3:06 p.m. 0.0

Thursday

2.8 2.2

2:55 a.m. -0.1 3:42 p.m. -0.1

9:14 a.m.

9:34 p.m.

sun anD moon Sunrise Sunset

6:57 a.m. Moonrise 5:41 p.m. Moonset

3:00 p.m.

4:15 a.m.

Full

Last

New

First

Jan. 17

Jan. 25

Feb. 1

Feb. 8

CAT ISLAND

E

W

High: 76° F/24° C Low: 67° F/19° C

N

S

E

W

8-16 knots

S

10-20 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 73° F/23° C Low .................................................... 68° F/20° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 81° F/27° C Last year’s low ................................... 68° F/20° C Precipitation As of 1 p.m. yesterday ................................. 0.12” Year to date ................................................. 2.17” Normal year to date ..................................... 0.56”

High: 74° F/23° C Low: 64° F/18° C

strengthen data protection around financial services” as a result of the expansion of digital transactions including the Central Bankbacked Sand Dollar digital currency.

“What we are comfortable with is ensuring individuals have sovereignty over the information being created,” Mr Rolle said. “What this change is doing is increasing awareness of the public of data privacy and related issues. We are creating and leaving a digital footprint on all electronic transactions we’re doing with debit and credit cards.”

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 67° F/19° C

High: 76° F/24° C Low: 69° F/21° C

N

High: 72° F/22° C Low: 63° F/17° C

E

W S

LONG ISLAND

tracking map

High: 77° F/25° C Low: 68° F/20° C

10-20 knots

MAYAGUANA High: 79° F/26° C Low: 72° F/22° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 77° F/25° C Low: 70° F/21° C

GREAT INAGUA High: 80° F/27° C Low: 71° F/22° C

N

N E

W

E

W

H

High: 78° F/26° C Low: 70° F/21° C

S

S

8-16 knots

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: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS NW at 12-25 Knots SSE at 3-6 Knots NW at 8-16 Knots ESE at 4-8 Knots WNW at 10-20 Knots NE at 3-6 Knots W at 8-16 Knots NE at 4-8 Knots WNW at 10-20 Knots NE at 3-6 Knots WNW at 10-20 Knots SSE at 4-8 Knots NW at 10-20 Knots NE at 4-8 Knots NW at 7-14 Knots NE at 6-12 Knots WNW at 8-16 Knots ENE at 4-8 Knots W at 10-20 Knots NE at 4-8 Knots WNW at 8-16 Knots ENE at 3-6 Knots NW at 8-16 Knots NE at 4-8 Knots NW at 10-20 Knots NE at 3-6 Knots

WAVES 6-10 Feet 3-6 Feet 1-2 Feet 0-1 Feet 4-7 Feet 3-5 Feet 3-5 Feet 2-4 Feet 3-6 Feet 3-5 Feet 4-7 Feet 1-3 Feet 1-3 Feet 0-1 Feet 2-4 Feet 1-3 Feet 2-4 Feet 1-2 Feet 4-7 Feet 4-7 Feet 1-3 Feet 0-1 Feet 1-3 Feet 1-2 Feet 3-5 Feet 1-2 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 10 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. 76° F 76° F 76° F 75° F 76° F 76° F 80° F 80° F 76° F 76° F 76° F 76° F 77° F 75° F 81° F 81° F 80° F 80° F 80° F 80° F 77° F 77° F 80° F 80° F 78° F 78° F