01222021 BUSINESS

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FRIDAY, JANUARY 22, 2021

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to decide Biden’s action ‘simply Govt Grand Lucayan devastating’ to tourism return ‘shortly’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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CABINET minister yesterday warned new US quarantine requirements are “simply devastating” for the Bahamian tourism industry’s rebound, adding: “This keeps us on the edge that much longer.”

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that Joe Biden’s executive order on COVID19 restrictions relating to international travel are yet another “significant deterrent” that will hit every aspect of this nation’s tourism sector.

• Minister: ‘Keeps us on edge much longer’ • Stunned industry assesses new ‘deterrent’ • Operators fear it will ‘kill’ Bahamas revival

The newly-elected president, in a bid to contain skyrocketing US infection rates that have resulted in 24.5m COVID-19 cases and 406,000 deaths, yesterday implemented a policy that requires all returning American citizens and foreign travellers to “comply” with Centres for Disease Control and Prevention (CDC) guidelines that include “recommended periods of DIONISIO D’AGUILAR

PRESIDENT JOE BIDEN

SEE PAGE 4

BTC retirement offer sparks trade dispute

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas Telecommunications Company’s (BTC) two unions yesterday revealed they have filed a trade dispute over what the carrier branded “the most generous retirement package in the Caribbean”.

Ricardo Thompson, the Bahamas Communications and Public Managers Union’s (BTC) president, told Tribune Business that its attorneys were examining the Enhanced Early Retirement Programme (EERP) being offered to 63 staff aged between 55 and 60 years-old on the basis that the carrier had not complied with their industrial agreement.

He and Dino Rolle, president of the Bahamas Communications and

• Unions slam ‘murky’ package as ‘busting tactic’ • Carrier brands ‘most generous offer in Caribbean’ • Aimed at 63 workers closest to retirement age

GARFIELD SINCLAIR

DINO ROLLE

Public Officers Union (BCPOU), which represents BTC’s line staff, argued that the company had made the offer directly to all workers falling into this age bracket rather than going through the two unions first - something

they said was mandated by their respective industrial deals.

But Garfield ‘Garry’ Sinclair, BTC’s chief executive, told Tribune Business that the unions were trying to find fault with the process because they were unable

Court slashes damages over Sky plane collision

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE damages that Sky Bahamas’ insurer must pay to a rival airline after their planes collided on the ground 11 years ago has been partially cut in a majority Court of Appeal ruling.

The court, in a two versus one majority ruling where chief justice Sir Brian Moree dissented, slashed just over $70,000 from the compensation due to Southern Air after finding that its plane’s loss of value was less than allowed for by Supreme Court registrar,

Donna Newton.

And it also overturned the $285,540 that she awarded Southern Air for loss of the aircraft’s use, sending that particular issue back to the Supreme Court for another hearing.

Captain Randy Butler, chief executive of Sky Bahamas, which has been grounded since summer 2019 and is now embroiled in the litigation that resulted in K Peter Turnquest resigning as deputy prime minister, yesterday said he had no involvement in the court case.

SEE PAGE 3

Oil drill opponents hail insurance intervention

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

OIL exploration opponents yesterday hailed growing international pressure for Bahamas Petroleum Company (BPC) to show it has sufficient insurance to cover any pollution clean-up costs.

Casuarina McKinneyLambert, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, told Tribune Business that the intervention by the Insure Our Future pressure group showed that BPC’s exploratory drilling has become

“truly a global issue and people around the world are watching what we do.

“The Bahamian people have a right to know the amount of coverage in the event of disaster, duration of the policy and name of the insurer that BPC has procured for this oil drilling venture. And unsubstantiated claim of insurance ‘in excess of government requirements’ is not sufficient to relive the concern of thousands of Bahamians whose livelihoods depend on a clean marine environment.”

SEE PAGE 5

to criticise what the carrier was offering to older and long-serving employees.

Asserting that BTC had consulted the two unions at a December 30 meeting, which was confirmed

by Mr Rolle, Mr Sinclair emphasised the “voluntary” nature of the package being offered and said the communications provider had set no target number for reducing its workforce.

He added that the deadline for workers to accept the EERP offer had been extended by one week, from January 18 to January 25, to enable all those involved to

SEE PAGE 4

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Minnis Cabinet will decide “very shortly” whether to act on the Grand Lucayan Board’s plan to re-open the resort on February 1, a Cabinet minister revealed yesterday.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the government was “still analysing” the costs associated with opening Freeport’s so-called ‘anchor property’ and disclosed that yesterday’s US move to impose a quarantine requirement on all incoming travellers (see other article on Page 1B) may factor into the decision.

Speaking after this newspaper was informed that the government will have the final say on the resort’s proposed re-opening, given that millions of taxpayer dollars will be at stake, Mr D’Aguilar confirmed that the final decision has been taken out of the Board’s hands.

“It’s Cabinet and we’ll be making a decision on that very shortly,” he told this newspaper. “We’re still analysing what the costs are to re-open before we come to a conclusion.”

Conceding that the Biden administration’s new COVID-19 travel and health policies may influence any decision, Mr D’Aguilar said: “We’re still digesting all this information, so we will put that in the pot and see what comes out. We’ll have to evaluate this move in light of what decisions we have to make.”

His comments came as the government still assesses

the findings of a report by the KPMG accounting firm into whether the current terms of the ITM Group/Royal Caribbean deal to acquire the Grand Lucayan are sufficiently beneficial to the Bahamian economy and people.

Informed sources, speaking on condition of anonymity, suggested the findings are “not favourable”.

Bahamian taxpayers, via the Public Treasury, have already injected over $100m into the Grand Lucayan including the $65m purchase price - since the government acquired the property from Hutchison Whampoa’s real estate arm in 2018. And there are fears that simply re-opening the resort, in the absence of airlift, a marketing plan and operator, will simply inflict more losses.

The Minnis administration is likely becoming desperate to get the lossmaking resort off its and the taxpayer’s books, given the staff termination package, subsidies to cover operating losses and other expenses it has incurred over the past two years. Philip Davis, the opposition’s leader, recently argued that the total cost to taxpayers was likely to be around $150m.

The government believed it had found the correct buyer to revive the Grand Lucayan, and Freeport’s wider tourism industry and economy, in the shape of Royal Caribbean/ITM Group’s joint venture partnership, Holistica. However, those hopes quickly foundered on the COVID-19 rock, with the joint venture subsequently using the

SEE PAGE 5

PAGE 2, Friday, January 22, 2021

THE TRIBUNE

HOW TO SWITCH PATHS LATE IN YOUR CAREER

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TTENDING a long service awards ceremony hosted by the Ministry of Tourism yesterday, it dawned on me that many employees who serve in the same organisation for 25 or more years get left behind and stuck in mediocrity. They put the thought of life-long learning down as a rule, and settle to give just enough to exist.

This column today focuses on so-called generation X-ers and Baby Boomers who have given decades of service to companies, and are ready to shake things up. Reinvention can seem daunting, but so can spending the rest of your professional life doing a job that is no

longer fulfilling. Reinvigorating the later years of your career can happen in a dramatic way (changing industries), or more subtly (learning new skills or moving to a different job within your company).

Employees who are looking to reinvent themselves or reemerge on the job market should consider these options: Turn “old” skills into new assets. Instead of fixating on how you can fit a different mold, think about how you can fill a void. Write down one or two sentences identifying the knowledge or skills you have, but which others in your new environment might not.

For example, you may not have years of experience in

human resources, but your time in the sales department probably gave you a valuable perspective about how to hire the right people that you can bring to a new career in human resources.

Do not be afraid to go backward temporarily.

Sometimes the way forward is by taking a step back. If you are shifting fields you may need to take a job at a lower level so you can “learn the ropes” of the new industry, yet often your past experience will then help you leapfrog ahead quickly.

Be mindful, though, that you have enough time as a worker still ahead of you to see the pay-off. Ask yourself: Will this job help me learn new skills or gain a new perspective? Will I be

making useful connections?

Is there a clear path to advancement, and how long is it likely to take?

Get online. Increasingly, your professional reputation is shaped by your online reputation and presence. After all, the first thing a potential employer will do after receiving your resume is an Internet search to find out more about you. Do not leave that impression to chance.

Even if you have no interest in starting a blog, or a Twitter account, at the very least take a few hours to build a robust LinkedIn profile. It is a standard assumption these days that any professional has one. Make sure to include your photo and fill out all the fields for

education and job history.

People can find information about you online whether you put it there or not, so you are better off crafting the image they see.

Overcome self-doubt. You may worry that it is too late to reinvent yourself, or think you have locked yourself into your current path. But people can — and do — take on new professional challenges all the time. It is fine to be going back to university at 55 for a Master’s Degree. The most important step is realising you can do it and projecting that confidence to others, so that they will feel motivated to help you along your path.

NB: Ian R Ferguson is a talent management and organisational development consultant, having completed

IAN FERGUSON BY

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.

Small business survey seeks 150 more replies Laundromats hail A GOVERNANCE reformer wants 150 more survey responses to develop an accurate picture of the challenges faced by small and medium-sized businesses in the islands hit by Hurricane Dorian.

The Organisation for Responsible Governance (ORG), which partnered with the United Nations Development Programme (UNDP) on the survey initiative last November, wants to increase the level of feedback from Grand Bahama and Abaco businesses to 500 companies compared to the present 350 submissions.

“It goes without saying that micro, small, and midsize enterprises (MSMEs) are responsible for driving economic activity throughout the country,” said Tiffany Bain-Saunders, ORG’s education and programme consultant. “Being aware of their challenges is critical data that can be used to set policy and discover growth trends as well.”

The survey aims to provide a platform to highlight the current challenges MSMEs in the two islands

Sunday reopening

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

BAREFOOT Marketing survey staff calling MSMEs in Grand Bahama for help with the ORG and UNDP small and medium-sized business survey in Abaco and Grand Bahama. face due to the dual crisis created by Hurricane Dorian and the COVID-19 pandemic. In The Bahamas, around 90 percent of all businesses fall into this category, and a significant number have been hit by current economic conditions.

“The dual crisis has forced many businesses to lay-off staff, reduce their hours of operation, or worse,” Ms Saunders added. “While we are all anecdotally aware of the challenges our economy has faced, we need MSME data recorded to make sure future decisions

any government makes on how to help them is directed properly.”

The survey, which can be found at ORG’s website, orgbahamas.com/sme, engages business owners on a wide range of issues such as the impact of COVID-related restrictions; post-hurricane challenges with access to supplies; and how the government has supported or hindered their capacity to remain open.

The survey takes 15 minutes, with anonymity for all respondents. Once compiled, the results will be presented to the Ministry of

Finance and the Small Business Development Centre to aid future policies and legislation. The compiled information will also be shared, using ORG’s relationships, with local Chambers of Commerce and NGOs. “We have called local businesses, emailed and texted some as well,” added Ms Saunders. “Grand Bahama’s response has been very strong, but we are still in need of more Abaco feedback. We encourage all business owners to speak to our representatives or to visit our website. Your voice is so important in this.”

LAUDROMATS yesterday hailed the changes to the government’s COVID19 emergency orders that will once again allow them to open on Sundays.

Widlyne Melidor, Shirley Plaza Laundromat’s general manager, told Tribune Business it will be “great” to return to seven days per week operations even though opening hours will be restricted to between 6am and 9pm as on other days.

She added that Sundays was traditionally a busy day as persons preferred to come in between Sunday afternoon and evening

ahead of the working week.

“We will be open this Sunday, but we only open up from 7am to 7pm on regular days, and Sunday we will do the same,” Ms Melidor said.

Irmalee Larrow, Super Stop Wash’s general manager, said she was “appreciative” of being allowed to re-open on Sunday, while Moses Bain, owner/operator of Country Talk Laundromat, said the easing of restrictions now is a “good thing”.

He added: “At least people can now wash and be prepared for work on Monday morning. But people can only come and do certain services when they when they have some funds.”

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THE TRIBUNE

Friday, January 22, 2021, PAGE 3

Biden dampens Promotion Board’s ‘double digit’ hit rise

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Nassau/Paradise Island Promotion Board yesterday said it was seeing “double digit” increases in hits to its website, with the trend line for 2021 “promising” prior to the US quarantine move.

Fred Lounsberry, its president, speaking ahead of Joe Biden’s announcement that all US citizens returning from international travel will have to quarantine as well as present a negative COVID-19 test, told Tribune Business that the Board’s nassauparadiseisland.com website has been seeing significant increases in visitor hits week-on-week.

This suggested, prior to the newly-elected US president’s move yesterday, that

US PRESIDENT JOE BIDEN persons are becoming more interested in vacationing in The Bahamas this year. The online travel marketplace, Koala, has also ranked The Bahamas ranked ninth on their list of top 50 countries that have the most demand from the US market.

Mr Lounsberry said: “I’ve seen a number of

studies. I saw one from travelzoo, which is big and a pretty good example. I think we were number one, or number two, consistently over the last six months. So this is great news. We are seeing, every week, double digit increases week-overweek. Granted it’s a small base number, but certainly

the trend line is very promising.”

The Promotion Board chief said this doubledigit increase trend started during the Christmas holidays and, “despite brief pauses, it is a solid move in the right direction”.

That, though, was before yesterday’s tightening of US travel restrictions and health protocols.

Mr Lounsberry added: “I can say it’s a solid move in the right direction, and that it’s not zigzagging the way it has in gross visitation hits. Then what we measure a lot is the connecting to hotels, and that number has grown as well.

So people are definitely out searching.”

Suggesting that this showed persons are serious about travelling to The Bahamas, as the connecting hotels indicator is

Gas stations hail Sunday return: ‘Couldn’t have been timed better’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net GAS station operators yesterday said permission to re-open on Sundays is “great news and “couldn’t have come at a better time”, with some expecting it will boost weekly sales by up to 25 percent.

Vasco Bastian, the Esso station owner at East Street and Soldier Road, told Tribune Business he “tips his hat” to the Prime Minister after the government’s COVID-19 emergency orders were altered to allow the industry to open between 6am and 9pm on Sundays.

He added: “This is long overdue. It should have never been closed in the first place on Sunday.”

Pointing out that persons travelling to church services need fuel to do so, Mr Bastain said: “This is good news because the prime minister has either listened to me, or he is now listening to better counsel in regards to opening the gas stations on Sunday.”

The Esso operator revealed he expects a 15 percent to 25 percent sales boost from Sundays alone, adding: “People are now going to be able to come inside the store and buy stuff now. People are going

to fuel up on their way to church and from church.

“Schools are getting ready to open now again, and people who don’t want to buy fuel in the Monday morning rush would now come on Sundays. There are just all kinds of benefits for this now.” Pledging that he will re-open this Sunday, Mr Bastian said: “I want to tell the government ‘thank you’.”

Chato Outten, owner/ operator of Shell at Old Fort Bay, echoed Mr Bastian by saying: “That’s great news, absolutely great news. Whether we get a boost or not is difficult to say because we can have some shifting. It’ll be a bit

of a shift of customers from the other days, so we don’t know if we’ll even off or if it will give a boost.”

Mr Outten said Sunday openings will also eliminate the long queues experienced at gas stations on Saturday evenings, as persons race to fill up their vehicles ahead of Sunday’s closures.

“The lines are ridiculous,” he added. “Traffic is backed up around the corner for all of the stations, especially in the city.

But allowing gas stations to open on Sunday is a good move. I think it will be greatly received by the public.”

Court slashes damages over Sky plane collision FROM PAGE ONE He added that it was being driven by the airline’s insurer, which hired and paid for the Lennox Paton attorneys, Marco Turnquest and Chizell Cargill.

With Sky Bahamas having already admitted liability for the accident, which saw its Beechcraft 1900D plane strike Southern Air’s stationary aircraft on the tarmac at Lynden Pindling International Airport (LPIA) in June 2009, it is only the size of the damages payout that is to be determined.

Southern Air had initially claimed a total $1.05m in damages. While repairs were pegged at $96,944, it sought $300,000 as compensation for loss of the plane’s worth and $652,800 for operational losses due to its inability to fly.

Mrs Newton, though, determined the total payout to be $497,954. This consisted of $76,099 for repairs; $141,315 for loss of the plane’s value, and $280,540 for operational losses. Sky Bahamas’ insurers appealed the last two awards, after the Supreme Court registrar preferred the evidence of Southern Air’s expert witness, Stephen Coonan, over Wayne Mulder who was representing its adversary.

“Mr Coonan’s position was that the diminution in value should be placed at 20 percent of the market value of the aircraft, whereas Mr Muhler paced it at five percent,” appeal justice Milton Evans, writing the majority verdict, found.

“The registrar rejected the evidence of Mr Muhler on the basis that ‘he (Mr Muhler) admitted under cross-examination that he has no certification as an aircraft appraiser’.” However, he found that Mrs Newton had failed to follow the legal authorities upon which she relied for her verdict.

“According to Mr Coonan, the damage to the airframe was significant (frames, intercostels, stringers, etc.) and indicates that the pressure vessel part of the fuselage may have been affected. For this reason, he contends, that although the portion of the damage deduction was made only from the airframe, that damage was significant,” the Court of Appeal found.

“He opined that deduction of 20% percent of the green value was reasonable for that damage. It is noted that he makes no allowances for what his opinion would be if the fuselage was not affected. Mr Muhler, however, was of the view that the fact that the airplane was a commercial aircraft was not of much significance.

“He added that past sales support deduction between five to ten percent based on the market and the specifications of the aircraft for sale, as the N376SA is very desirable aircraft. It has very low total time in service, an excellent maintenance history and excellent avionics. He concluded that using the current strong market conditions, a five percent deduction in value is appropriate.”

Finding that the Supreme

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Court registrar had erred in rejecting Mr Muhler’s evidence, appeal justice Evans said he found it “more rational” and added: “His position is more consistent with the view that diminution is more reflective of the cost of repair. I would therefore accept his estimate that the valuation would be reduced by no more than five to ten percent. In my view it would be appropriate to place it at ten percent.”

As for the loss of the aircraft’s use for 48 days, appeal justice Evans noted that Sky Bahamas had offered

a replacement aircraft to Southern Air but the latter had stopped using it after just two days. He found that there was no reasoning to support the registrar’s decision to award Southern Air 50 percent of its “opportunity loss” claim and sent the matter back to the Supreme Court for a new hearing.

However, Chief Justice Moree found that it was open to Mrs Newton to accept the evidence of Southern Air’s Mr Coonan, and said he would have upheld the $141,315 verdict for loss of the plane’s worth.

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• Must be hands on and capable of doing job on own; • May be required to work evenings and weekends from time to time.

The candidate should have a degree from recognized institution in mechanical and/or electrical engineering; must speak english fluently; have minimum of five years experience working on large private estate or luxury lodging industry; have at least three references from previous employers.

Send resume to: Vacancybahamasoffice@gmail.com Or Head Engineer P. O. Box N-7776 (Slot 193) Nassau, Bahamas

“significantly larger” than when the country had huge amounts of visitors, Mr Lounsberry said: “They’re searching, and they’re checking out hotels and prices, and those kinds of things.”

The Bahamas Hotel & Tourism Association (BHTA), in a statement, said: “We have been pleased to note our destinations’ collective efforts are paying off as evidenced by varying articles and announcements from Koala, which reveals the ‘most in-demand future vacation destinations for American citizens’, and that The Bahamas is listed in ‘The USA’s top ten future travel destinations’.

“Grand Bahama was recently listed as one of the ‘21 best Caribbean islands to visit in 2021’ in an article by Caribbean Journal.

EndCoronavirus.org; a self-described international volunteer coalition of over 4,000 scientists and other community stakeholders, listed The Bahamas as one of the nations that enacted the right policies and protocols to mitigate against the spread of COVID-19 in the country.”

“COVID has changed the world; it is a storm the world has been forced to weather,” said Robert Sands, the BHTA’s president. “We cannot get around it, we cannot go over it or under it. The only way out is to go through it.

“The Bahamas, through collaboration, hard work, tenacity and resilience, has and will continue to make our way through the COVID storm. The qualities that enable us to do so happen to be the hallmark of the Bahamian people”.

RESTAURANTS SEE 15% SUNDAY RETURN BOOST

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net RESTAURANTS yesterday predicted at least a 15 percent boost in sales after the government relaxed the COVID-19 restrictions to enable outdoor dining on Sundays.

Jacques Carlino, owner/ operator of the Blue Sail Bar & Grill, told Tribune Business he is “very happy” as the move will give him a “15 percent to 20 percent boost” in weekly sales.

He warned, however, that sales are still comparatively low based on past performance and the loss of one day, particularly Sunday, had been a significant impact.

“I’m looking forward for the church business this coming Sunday. We do well on Saturday, and we hope that the business on Saturday doesn’t move to Sunday because, at the moment, Saturdays are stronger than regular and I hope it doesn’t shift,” Mr Carlino said.

He added that he plans to remain “cautious”, and has warned staff to not become too excited about potential Sunday business.

“I said to my team from December: Let’s not get excited when we had that influx of business. The fourth week of December is that of the Christmas week,

and New Year’s Eve, it was better than last year. We did very well compared to what we’ve done all of 2020,” Mr Carlino said.

Peter Maury, owner/operator of Green Parrot, said being allowed to open on Sunday now “makes sense”.

He added: “We’re not doing anything different on Sundays that would we not normally do on other days.

“We used to have a lot of after-church business on Sunday when we had the indoors, because it was inside and obviously more comfortable, but now it’s cooler out. So I guess if people start going to church, they’ll be able to sit outside again. We’re just happy for the opportunity to be able to open, and hopefully we can extend to the later hours.”

Chris Robertson, owner/ operator of the Cricket Club Restaurant and Pub, said the Sunday opening move will bring in between 40 percent to 50 percent in additional sales.

He said: “We have a lot of church groups come in.

Of course, we’re limited by the amount of people per table on the balcony, and we still can’t do indoor dining.

It’s only on the balcony. So we’re still limited. But yeah, it is going to give us a boost by probably about 40 percent or 50 percent.”

PAGE 4, Friday, January 22, 2021

Biden’s action ‘simply devastating’ to tourism FROM PAGE ONE self-quarantine or self-isolation”.

These guidelines, according to the CDC’s website, include getting tested for COVID-19 within three to five days after arriving back in the US from “higher risk activities” during international travel.

They advise persons to “stay home” for seven days after travel, even if they test negative for the virus, while those who elected not to have the test are told to stay home for ten days after returning.

Mr D’Aguilar said “higher risk” international travel was defined as coming from countries that presently have a “Level 2”, “Level 3” or “Level 4” Health Travel Notice from the CDC. The Bahamas is presently in “Level 4” and, while the minister argued that this risk rating should be much lower due to the decline in COVID19 cases here, the country falls squarely within the new quarantine measures.

“It’s devastating. It’s simply devastating,” he told this newspaper of the new US president’s action, which came barely two days into his administration. “This is a significant deterrent to travel.

“The fact you have to get a COVID test to return to the US is an impediment we could potentially overcome,

but this one - having to comply with the CDC guidelines on quarantine, which I think is for between five, seven, ten or 14 days.....

I don’t know if we can get down to “Level 2”, but that’s what we have to push for.

“This is potentially economically devastating.

COVID-19 took us to the edge, and this will keep us on the edge that much longer,” Mr D’Aguilar added. “It’s quite depressing really. It’s a major setback; a significant setback.

I presume it’s going to be impactful on our hotel partners, our airline partners and certainly our cruise line partners, and all the spinoffs that feed those things.

“I cannot imagine what’s going to emerge from this, but at least we’re handling COVID-19 well, and hopefully that resonates with the powers that be at the CDC and we fall into a category that allows an exemption from those requirements.

It’s a problem. It’s a major problem.”

He pointed to the findings of EndCoronavirus.org, a “self-described” volunteer coalition of 4,000 scientists, which placed The Bahamas among 27 nations “that have largely tamed the pandemic” as at December 19.

The Bahamian economy’s ability to rebound, and slash an unemployment rate still estimated at between 30-40 percent, is almost totally dependent on the tourism

industry’s revival. That, in turn, relies heavily on US visitors, who traditionally account for up to 82 percent of all tourists coming to this nation.

The new US administration’s actions, adding a quarantine to obtaining a negative COVID-19 PCR test within three days of travel for all returning US visitors, thus adds another obstacle and cost for Americans seeking to travel to The Bahamas and elsewhere.

It thus threatens to cutoff, and have a potentially chilling effect, on the reopening of the Bahamian tourism and hotel industry that began on November 1 last year. Atlantis recalled 2,500 staff, although some were subsequently furloughed again, while Baha Mar brought back 1,800 workers.

However, continued COVID-related uncertainty and low bookings prompted the RIU Paradise Island to close again, and the likes of Sandals to delay their re-opening further. The latest US moves threaten to only further unnerve the tourism sector, and prompt further closures, delays and furloughs.

Acknowledging that The Bahamas will now have to strive even harder to obtain exemptions from the latest US restrictions, Mr D’Aguilar said: “My take on it is that we’re a small nation. We have very low

level of COVID-19. We present a very low risk to the US. “We are in their sphere of influence, and a large portion of our economy - over 50 percent of our economy - is reliant on trade and tourism from the US. Certainly the Caribbean region, the English-speaking CARICOM countries, have a total dependence on persons travelling from the US.” Voicing hope that the CDC may “tweak” the new Biden policy, Mr D’Aguilar reiterated: “It’s depressing.

It’s really depressing. We were slowly trying to build back. December was five percent of the prior year, and it will be interesting to see what January’s numbers will be.”

Much depends on the new US “quarantine” policy’s details, with the timing and other critical factors yet to be unveiled, plus how it will be implemented and work in practice. However, with the COVID testing requirement set to take effect from January 26, it will likely prompt the Ministry of Finance to assess its growth and fiscal projections, and make some adjustments to the latter.

Stunned tourism industry operators were last night still digesting the implications of Mr Biden’s move for their businesses and the wider industry. Robert Sands, the Bahamas Hotel and Tourism Association’s

THE TRIBUNE (BHTA) president, told Tribune Business that “the devil is in the details” and that the body was still reviewing the situation as well as the CDC’s website information.

He added that he was “not going to jump to that conclusion as yet” that the US quarantine move will present a major impediment to Bahamian tourism’s rebound, saying of the new policy: “The details, the interpretation of the language, is going to be extremely important.”

Mr Sands said in a subsequent statement: “We are reviewing the [US] executive order and ancillary documentation in detail, and are engaged in discussions with relevant government representatives, regional partners and tourism stakeholders.

“We will work immediately and assiduously with all relevant entities to clarify the specifications contained in the executive order, and the subsequent potential ramifications on tourism for The Bahamas and the region. We will continue to communicate with you, our industry partners and members”.

Others were more blunt, saying Mr Biden’s move will “kill The Bahamas”. Cheryl Bastian, owner/operator of Swain’s Cay Lodge in Andros, told Tribune Business of Mr Biden’s move: “I hope he doesn’t do it, because that would kill The Bahamas’ business.

“If they are asking people on their return to have a COVID-19 test, then why are they now asking for a quarantine?” But Alicia Moss, Premier Travel’s general manager, said she anticipated the US move and does not think it will affect The Bahamas significantly because people are “so eager” to travel to the country.

She said: “We expected the quarantine. It’ll be an adjustment but people are still eager to travel.”

But Ms Bastian argued: “We won’t be OK if they decide to quarantine. We attract an affluent and high net worth clientele with lots of money. So they spend a week away and then they have to quarantine to get back to work? That will cause employment issues and things like that, especially if the quarantine is for 14 days.”

Jeff Birch, owner/operator of Small Hope Bay Lodge in Fresh Creek, Andros, agreed with Ms Bastian and said it all depends on how long the quarantine is for. “Quarantine goes hand in hand with testing,” he added.

“In other words, if I don’t want to quarantine for longer than three to five days then I test. So if he’s allowing that then I don’t think that’s too big of a deal. But if persons have to stay in quarantine for 14 days then I think that’s a big problem.”

Ms Bastian added: “They need the vaccine, and they need to do this mandatory masks in public places for longer than the 100 days he said he would. It should be mandatory masks, period, until the virus is gone.

And certainly now there shouldn’t be any quarantine. The CDC is proposing that you already have to take tests to get back in, and that’s really a big burden for us.”

Tommy Turnquest, Bahamasair’s chairman, told this newspaper that the national flag carrier was waiting for details on the US quarantine policy given that it will impact its Bahamian as well as US passengers. He acknowledged it could represent a significant deterrent to travel and tourism.

BTC retirement offer sparks trade dispute FROM PAGE ONE

obtain the details required to make an informed decision on whether they will accept.

Mr Sinclair, who declined to disclose the financial terms on offer, said the number of older BTC staff signalling their acceptance was already “in the double

digits”, but both union leaders argued that the offer’s week-long extension was granted because the package was not enticing enough to their members.

“Both unions felt very strongly that BTC’s approach was either a union busting tactic or seeking to destabilise the unions,” Mr Thompson told Tribune

MARKET REPORT www.bisxbahamas.com

THURSDAY, 21 JANUARY 2021

BISX ALL SHARE INDEX:

CLOSE

CHANGE

%CHANGE

YTD

YTD%

2094.45

0.04

0.00

1.99

0.10

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

BISX LISTED & TRADED SECURITIES 52WK HI 4.15 33.05 2.00 2.02 2.10 6.00 6.75 3.80 6.49 4.45 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 1.66 5.00 6.00 2.70 4.50 3.50 5.90 11.06 2.10 4.75 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

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 2.02 1.67 6.00 6.61 2.98 4.74 3.59 5.90 11.24 2.53 6.85 10.22 8.40 13.75 3.94 8.50 15.20

CLOSE 4.15 32.12 1.62 2.02 1.67 6.00 6.61 2.98 4.74 3.59 5.90 11.24 2.55 6.85 10.25 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

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 BSBGRS810359 BSBGR120371 BSBGRS790262

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.04 100.72

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.04 100.72

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

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.00 97.72 100.70

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 94.40 100.70

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 FL BSBGRS810359 BGRS FX BSBGR120371 BGRS FL BSBGRS790262

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 0.02 0.00 0.03 0.00 0.00 0.00 0.00 0.00

VOLUME

5,000

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 25.0 14.7 15.9 11.5 16.9 19.4 9.1 24.1

YIELD 4.10% 3.92% 1.23% 1.49% 0.00% 0.00% 3.93% 0.00% 0.00% 3.34% 3.73% 6.41% 17.02% 0.88% 3.20% 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

MATURITY

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.81% 5.22% 4.53%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 26-Jul-2035 15-Dec-2037 28-Mar-2026

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 30-Sep-2020

MARKET TERMS

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

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

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

Business. “They sought to put things forward and go directly to the members.

We have a major problem with that whole process.

“It’s not the way we do business. We are unionised in The Bahamas. You have to come through the unions and negotiate. We may tell you to forget it, and they’re trying to fight us on that.

It’s a one-off thing where they’re obviously targeting those 63 persons. There’s no room for negotiation.

They want to go directly to the members, and it reeks of union busting and a strategy to disturb the union.

“The persons in this age group have been there the longest, and as a result have salaries that are high.

They are obviously targeting long-serving members with high salaries.... We have filed a trade dispute, and are letting our lawyers look at all these things. It’s definitely murky to us, and is not consistent with what we know to be industrial harmony.

Mr Thompson argued that the package being offered to his 23 qualifying members was receiving little response because BTC was offering to pay those who accepted in annual installments, rather than an upfront lump sum.

He revealed that those aged between 55 and 57 were being offered 60 percent of their salary every year for up to three years, together with due pension and other benefits, while those aged 57 and upwards would receive 100 percent of their salary upfront for each of those three years.

Pointing out that BTC has staged numerous voluntary separation exercises since its privatisation in 2011, when Cable & Wireless Communications (CWC) bought a controlling 49 percent equity interest, Mr Thompson said: “Every time there’s

To advertise in The Tribune, contact 502-2394

an offer of this nature the entire company becomes disturbed. They’re unsure what the final number is, what they will do the next day. Every time they turn they get surprised.”

The union chief added that should all 63 persons accept the latest package, BTC’s workforce would number around 330-340 persons. “There’s a lot of contract workers and temporary workers all over the place,” he added.

Mr Rolle, meanwhile, urged the government to use its 49 percent interest in BTC to intervene with senior management, CWC and the latter’s parent, Liberty Latin America.

He added that the union’s had “forced management’s hand” on the EERP after hearing “talk” that another voluntary separation exercise was planned.

“We had a joint membership meeting, and staff were expressing outrage at management over the New Year’s greeting. The first thing the company decided to do was contact staff and offer separation packages.

Something’s wrong with that,” Mr Rolle said.

However, Mr Sinclair rebuffed union concerns and accused them of focusing on process rather than substance. “I would suggest the old maxim: When you cannot define a problem with the policy or initiative itself you kick up a fuss over the process,” he told Tribune Business.

“Incontrovertibly this is the most generous early retirement package not just in The Bahamas but the Caribbean.”

Mr Sinclair said the December 30, 2020, meeting with the two BTC unions had not seen the two sides agree on everything but “we got the feedback we needed to ensure within the envelope we could afford we were providing colleagues with the most generous early retirement package in the Caribbean”.

With no workforce reduction target in mind, Mr Sinclair added that BTC had wanted to provide older workers close to retirement with financial “comfort” and options for their future given the ongoing uncertainty produced by the COVID-19 pandemic.

THE TRIBUNE

Friday, January 22, 2021, PAGE 5

Govt to decide Grand Lucayan return ‘shortly’

FROM PAGE ONE

pandemic to water down the deal’s terms to their advantage.

Other observers, though, have argued that the government has little choice but to stay the course with RoyalCaribbean/ITM as the pool of alternative buyers willing to offer a reasonable price and terms will have shrunk considerably due to COVID-19.

While acknowledging that it was better for Freeport’s “anchor resort” to be open than closed, Magnus Alnebeck, the nearby Pelican Bay resort’s general manager, voiced fears in late December that its Lighthouse Point property will “just stand there because no one is coming” and cause “a big expense” for taxpayers.

“By itself it’s not going to bring any guests,”

Mr Alnebeck said of the planned re-opening.

“Grand Bahama has really been closed to the tourist market for almost four years since Hurricane Matthew. It’s a bit better that the hotel is open than closed, but opening by itself is not going to solve the problem. Having an open hotel with no guests is not the solution.

“It needs to open with the right operator and right product so there’s demand for it, there needs to be a marketing programme in place and, what is really important, is that full airlift is in place. It’s good that they’re going to open, but they need to open it right as opposed to saying let’s open it and see, especially if people are going to a destination that’s been closed down for four years more or less.

“It’s really three legs that

THE GRAND LUCAYAN HOTEL ON GRAND BAHAMA

are needed to open the hotel. The first is having an attractive product consumers like, and second, they need to market so people understand it’s open. Then you need to have the airlift and boat lift so people can get to Grand Bahama otherwise it’s just going to end up costing you money.”

Mr Alnebeck said that if an operator, marketing

initiative and air/sea lift for the Grand Lucayan were in place “they haven’t been announced yet”. He added: “What would have made sense to me would be to get an operator like Sunwing or someone who knows what they’re doing, come in with airlift and a marketing plan, and get the numbers to work.

“Otherwise the danger

is that the hotel opens at a big expense but it just stands there because no one is coming. It needs to be combined with a serious airlift programme and serious marketing plan. All the airlift we have for Grand Bahama at the moment is one American Airlines flight per day from Miami, Silver from Fort Lauderdale five days a week, and

whatever Bahamasair flies.

The Pelican Bay chief estimated that Grand Bahama is presently averaging around 100 daily air arrivals on five days per week - a figure that is far below the numbers necessary to sustain the Grand Lucayan and other properties that are more reliant on leisure guests than his hotel.

Oil drill opponents hail insurance intervention FROM PAGE ONE She spoke out after Insure Our Future, which lobbies the global insurance industry to stop underwriting and providing coverage for activities that are harmful to climate change, said BPC could simply eliminate all doubts by producing the insurance certificates related to coverage for its Perseverance One well.

The group also pointed to the contradictory statements issued by Lloyds of London, the insurance market where BPC’s coverage is said to be placed, which initially said it had “no record” of any policy and then subsequently refused to comment further.

Insure Our Future added that if any Lloyds syndicate was providing coverage to BPC it ran contrary to statements in the market’s environmental and social governance policy (ESG), which pledged “responsible underwriting and investment to help accelerate society’s transition from fossil fuel dependency, towards renewable energy sources”.

Tribune Business, too, attempted to obtain confirmation from Aon, the broker BPC used to place its coverage, but a spokesperson was unable to respond before press time last night.

“John Neal (Lloyd’s chief

executive and/or Bruce Carnegie-Brown, the chair of Lloyd’s Council, have a clear moral responsibility to clarify whether or not any aspect of this exploratory oil drilling in The Bahamas is being insured in the Lloyd’s market,” the Insure Our Future group said in a statement.

“If Lloyd’s is insuring BPC, it needs to explain its previous statements and how insuring this project fits with the vision of ‘responsible underwriting and investment to help accelerate society’s transition from fossil fuel dependency, towards renewable energy sources’, which it stated in its new ESG policy.”

As for BPC, the group said: “The Bahamas Petroleum Company (BPC) openly contradicts Lloyd’s statement, yet refuses to publish the evidence that it actually has insurance coverage with one or more Lloyd’s syndicates.

“Citizens, other affected companies and representative organisations surely have a right to know and a right to expect to be provided with evidence that insurance is in place. The bluster and insults traded by BPC are no substitute for evidence. BPC should simply produce the certificate of insurance now.”

The “bluster” comment is a reference to assertions

by Simon Potter, BPC’s chief executive, who previously blasted its opponents for “deliberate and gross misrepresentation” over suggestions its exploratory well lacks adequate insurance coverage.

In a statement to Tribune Business, he accused environmental activists of making “baseless” allegations that expose “a near complete lack of understanding and continued naivety” over how business in The Bahamas and internationally is conducted.

Mr Potter hit out after the Our Islands, Our Future coalition, which includes the two groups behind the Judicial Review challenge to the permits issued for BPC’s Perseverance One well, said its checks with the Lloyds of London insurance market produced no evidence that the oil explorer possesses sufficient insurance to cover the cost associated with oil pollution clean-up should an accident occur.

The group said it had contacted a senior Lloyds executive, who it named as Michaele Hawkins, its head of responsible business, who responded on behalf of the insurance market’s chief executive, M Neal, by saying in regard to BPC: “At present we don’t have any record that this risk is being underwritten in the Lloyd’s market.”

Our Islands, Our Future said it subsequently wrote again to Lloyd’s executives, submitting BPC’s public statements on the issue and requesting clarification, only to receive a January 14 reply that said: “Thanks for your follow up e-mail. We won’t be making any further comment on this particular project.”

The coalition seized on the responses to argue that serious questions have been raised over whether BPC has sufficient insurance coverage to finance oil spill remediation and protect the Bahamian environment, as it engaged the oil explorer in their latest verbal sparring on the margins of the Judicial Review action that is now before the Supreme Court.

However, Mr Potter said Lloyd’s executives would not possess details on every insurance contract underwritten by the syndicates it facilitates via the structure of a formalised market.

“As has previously been disclosed publicly by BPC, in accordance with its strict legal requirements the company has secured all insurances to be procured by a prudent operator for the Perseverance One well operations, and as stipulated by the Government of The Bahamas,” the BPC chief responded.

“Therefore, the statement

from Our Islands, Our Future in relation to BPC’s insurance policies is baseless and entirely incorrect. As with all insurance contracts, there exists normal business confidentiality provisions, and whilst the details of BPC’s specific contracts have been provided to the Government of The Bahamas, they are otherwise subject to commercial confidentiality obligations.”

Mr Potter continued: “I would note further that Lloyd’s of London is the world’s leading insurance market, comprised of multiple risk-writing syndicates. It is not a company or similar such organisation where any one individual can attest to

speak for Lloyd’s as a whole, but is rather a facilitator of insurance transactions on behalf of individual Lloyd’s syndicates.

“As such, the corporation of Lloyd’s does not have details of individual contracts underwritten by its syndicates. Thus choosing to represent an individual as speaking for the whole of the Lloyd’[s syndication market is yet another deliberate and gross misrepresentation of basic facts by Our Islands, Our Future, evidencing a near complete lack of understanding and continued naivety as to how businesses operating in The Bahamas (and internationally) actually operate.”

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I,ANTIE HAESHA CLERISIER, of #35B Claridge Road, Nassau, Bahamas intend to change my name to ANTIE HAESHA MCKENZIE. 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.

NOTICE

NOTICE

NOTICE is hereby given that ALIX HERARD JUSMA, of #55 B Gladstone Terrace, Freeport, 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 twenty-eight days from the 22nd day of January 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that PRECIOUS MICHEL, of Khayton Way, Joe Farrington , P.O.Box N-3731 Nassau, 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 twenty-eight days from the 22nd day of January 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence,

LEGAL NOTICE

LEGAL NOTICE

LEGAL NOTICE

NOTICE

NOTICE

NOTICE

Request For Bids A cement company is requesting bids for trucking services for its two locations in New Providence.

Interested parties are invited to send an email to (truckbids242@gmail.com).

Bids will be received until February 9th, 2021

_______________________________

DRAKE TRAINING SYSTEMS LIMITED _______________________________

____________________________________

Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 21st day of December, 2020.

Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 21st day of December, 2020.

Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 21st day of December, 2020.

Beryn Neeley Liquidator of Honey Software Limited

Beryn Neeley Liquidator of DRAKE TRAINING SYSTEMS LIMITED

Beryn Neeley Liquidator of KNOWLEDGE HARVEST LTD.

Honey Software Limited

KNOWLEDGE HARVEST LTD.

PAGE 8, Friday, January 22, 2021

THE TRIBUNE

VATICAN CONVICTS EX-BANK CHIEF IN PROPERTY EMBEZZLEMENT SCAM ROME Associated Press THE Vatican’s criminal tribunal yesterday convicted the former head of the Vatican bank and his lawyer of embezzling millions of euros in proceeds from the sales of Holy See-owned real estate, and sentenced them to nearly nine years in prison each.

The court also awarded the bank, known as the Institute of Religious Works, some 23 million euros in restitution from money seized from the

suspects’ Swiss and Vatican bank accounts that were frozen during the investigation.

Prosecutors had accused former bank chief Angelo Caloia, 81, and his 97-yearold lawyer, Gabriele Liuzzo, of embezzlement, misappropriation of funds and money-laundering between 2001 and 2008, when the bank sold off a sizeable chunk of its real estate assets.

The scam allegedly involved the suspects selling 29 different properties in Rome and elsewhere at

under-value prices to offshore companies that then resold them at market rates, with the suspects pocketing the difference.

Court-appointed experts estimated the bank lost some 34 million euros in potential revenue due to the under-valuing of the sales, and determined the suspects siphoned off 19 million euros for themselves, the Vatican press office said.

Caloia’s lawyers, Domenico Pulitanò and Rosa Palavera, said they would appeal and noted that their client had been acquitted of

the most serious accusations concerning “the majority of the properties”.

The bank’s former manager, Lelio Scaletti, had been implicated in the scam but died during the investigation. Once the trial opened, prosecutors added Liuzzo’s son as a defendant; he too was convicted and sentenced to five years and two months in prison.

The defendants maintained their innocence and had sought to call as witnesses former Vatican secretaries of state and cardinals who sat on the bank’s

oversight committee, in a sign they intended to demonstrate that the cardinals were aware of the sales and approved them.

It wasn’t immediately clear how the sentences, which included a combined fine of 28,500 euros among the three defendants, would be carried out or whether the two main defendants would actually serve prison time given their ages.

The trial was significant given that it showed a willingness by the Vatican to prosecute its own for shady business deals that have

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 75° F/24° C Low: 60° F/16° C

TAMPA

TONIGHT

SATURDAY

SUNDAY

MONDAY

TUESDAY

Mostly sunny and pleasant

Clear to partly cloudy

Mostly sunny and pleasant

Intervals of clouds and sunshine

Some sun, breezy and pleasant

Mostly sunny and nice

High: 77°

Low: 65°

High: 76° Low: 67°

High: 77° Low: 67°

High: 78° Low: 69°

High: 81° Low: 68°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

81° F

66° F

83°-69° F

80°-66° F

80°-69° F

85°-73° F

High: 71° F/22° C Low: 63° F/17° C

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: 77° F/25° C Low: 66° F/19° C

6-12 knots

S

WEST PALM BEACH High: 79° F/26° C Low: 58° F/14° C

8-16 knots

FT. LAUDERDALE E

W

FREEPORT

High: 79° F/26° C Low: 60° F/16° C

N

S

E

W

High: 76° F/24° C Low: 65° F/18° C

MIAMI

High: 79° F/26° C Low: 61° F/16° C

4-8 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 75° F/24° C Low .................................................... 63° F/17° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 77° F/25° C Last year’s low ................................... 68° F/20° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 1.23” Normal year to date ..................................... 0.92”

ELEUTHERA

NASSAU

High: 77° F/25° C Low: 65° F/18° C

Forecasts and graphics provided by AccuWeather, Inc. ©2021

High: 79° F/26° C Low: 66° F/19° C

N

KEY WEST

High: 75° F/24° C Low: 66° F/19° C

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.)

0.6 0.2

Today

2:40 a.m.

2:47 p.m.

2.2 1.8

9:04 a.m.

9:00 p.m.

Saturday

3:33 a.m.

3:42 p.m.

2.3 1.8

10:01 a.m. 0.5 9:51 p.m. 0.1

Sunday

4:24 a.m.

4:34 p.m.

2.4 1.8

10:55 a.m. 0.4 10:40 p.m. 0.0

Monday

5:12 a.m.

5:24 p.m.

2.6 1.9

11:43 a.m. 0.2 11:27 p.m. -0.1

Tuesday

5:57 a.m.

6:10 p.m.

2.7 2.0

12:28 p.m. 0.1 ---------

Wednesday 6:41 a.m.

6:55 p.m.

2.8 2.2

12:13 a.m. -0.2 1:10 p.m. 0.0

Thursday

3.0 2.3

12:58 a.m. -0.4 1:51 p.m. -0.2

7:23 a.m.

7:39 p.m.

sun anD moon Sunrise Sunset

High: 79° F/26° C Low: 67° F/19° C

N

S

E

W

4-8 knots

S

4-8 knots

ANDROS

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

uV inDex toDay

6:56 a.m.

5:47 p.m.

Moonrise Moonset

12:55 p.m.

1:33 a.m.

Full

Last

New

First

Jan. 28

Feb. 4

Feb. 11

Feb. 19

CAT ISLAND

E

W

long characterized the Holy See’s murky finances.

More such cases are in the pipeline, including one involving the Vatican secretariat of state’s 350-million-euro investment in a London real estate venture and the same office’s payments to a self-styled intelligence analyst who was purportedly working to free Catholic hostages in Africa.

Caloia’s lawyers lamented in a statement that the trial took place “in a climate that was on the whole unfavorable to the defense”.

SAN SALVADOR

GREAT EXUMA

High: 79° F/26° C Low: 67° F/19° C

High: 80° F/27° C Low: 69° F/21° C

N

High: 80° F/27° C Low: 65° F/18° C

E

W S

LONG ISLAND

tracking map

High: 80° F/27° C Low: 68° F/20° C

4-8 knots

MAYAGUANA High: 81° F/27° 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: 80° F/27° C Low: 71° F/22° C

GREAT INAGUA High: 83° F/28° C Low: 73° F/23° C

N

N E

W

E

W

H

High: 80° F/27° C Low: 70° F/21° C

S

S

6-12 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 SW at 8-16 Knots W at 7-14 Knots SE at 4-8 Knots NW at 3-6 Knots SSE at 4-8 Knots W at 4-8 Knots E at 6-12 Knots ENE at 4-8 Knots S at 4-8 Knots W at 4-8 Knots SW at 7-14 Knots WNW at 6-12 Knots SE at 4-8 Knots WNW at 3-6 Knots NE at 7-14 Knots ENE at 6-12 Knots ESE at 4-8 Knots E at 3-6 Knots E at 6-12 Knots ENE at 3-6 Knots S at 4-8 Knots W at 4-8 Knots E at 6-12 Knots ENE at 4-8 Knots SE at 4-8 Knots W at 4-8 Knots

WAVES 3-5 Feet 2-4 Feet 1-2 Feet 0-1 Feet 2-4 Feet 1-3 Feet 2-4 Feet 1-3 Feet 2-4 Feet 2-4 Feet 1-3 Feet 1-2 Feet 1-2 Feet 0-1 Feet 2-4 Feet 1-3 Feet 1-3 Feet 1-2 Feet 4-7 Feet 3-5 Feet 1-2 Feet 0-1 Feet 1-3 Feet 1-2 Feet 1-3 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 10 Miles 10 Miles 10 Miles 10 Miles

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