03042021 BUSINESS

business@tribunemedia.net

THURSDAY, MARCH 4, 2021

$4.52

MARIO CAREY

Realtor moves into new territory: $3bn projects ‘on table’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A LEADING realtor yesterday acknowledged he has taken a risk in stepping outside the profession to launch a venture that has $3bn in potential projects “on the table”. Mario Carey told Tribune Business that the launch of Mario Carey Ventures (MCV) was his ambition to help diversify the economy and counter the ‘brain drain’ that sees two-thirds of university and collegeeducated Bahamians remain abroad after completing their studies. Giving such graduates a place to “land” is one of MCV’s prime goals, with the Better Homes and Gardens Real Estate MCR Group Bahamas principal asserting that the venture and its projects “will speak for themselves when they are signed, sealed and delivered”. Declining to provide details, or supporting evidence that would justify the collective $3bn valuation placed on MCV’s ventures, Mr Carey added that he aimed to provide a vehicle/ platform for innovative and creative thinking that will prove attractive to both domestic and foreign direct investment (FDI). A release announcing MCV’s launch said it is focusing on around a dozen possible projects in areas such as technology, affordable housing, diversified farming, digital assets and resort development, with Mr Carey telling Tribune

SEE PAGE 7

$4.52

$4.42

Minister tells cruise lines: ‘Don’t dump’ on Nassau By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A

CABINET minister yesterday urged the cruise lines to “not dump on the destination” given that they often created “insurmountable thresholds” for Bahamian entrepreneurs to do business with them. Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business he wanted to give “a little bit of push back” to recent criticisms by Carnival Cruise Lines executives that Nassau lacked fresh product - particularly new and exciting attractions and tours - to entice passengers off their ships when the

• Hits ‘insurmountable thresholds’ for local firms • Ships too eager to get excursion ‘piece of pie’ • Industry must play its part to improve product

DIONISIO D’AGUILAR industry eventually returns post-COVID-19. Calling for a more equal partnership between The Bahamas and the cruise industry, Mr D’Aguilar said

the latter’s practice of adding its own mark-up to the fee levied by Bahamian providers was effectively pricing local tours and excursions out of the market. Arguing that it was unfair for the cruise lines to solely blame this nation, and that they also needed to adjust their own practices, he added that their mark-ups often gave passengers the impression there was “no value for money” in leaving the ship for shore-based attractions. Mr D’Aguilar urged the cruise industry to curb its

desire for a cut of shore excursion revenue so that the experiences offered by Bahamian entrepreneurs “gain traction and reputation”, while acknowledging that the government and private sector must work together to ensure this nation fulfills its side of the bargain. Responding to assertions by Giora Israel, Carnival Group’s senior vice-president for port and destination development, the minister told this newspaper: “What

SEE PAGE 5

Judge calls for criminal probe into attorney’s ‘possible fraud’ By NEIL HARTNELL and YOURI KEMP Tribune Business Reporters A SUPREME Court judge has urged the director of public prosecutions to investigate an attorney for “possible fraud” over a series of six-figure transactions involving the same real estate parcel. Justice Keith Thompson, in a February 23, 2021, ruling, also called on the Bahamas Bar Association to take “disciplinary action” against Troy Kellman, an attorney with Hanna, Kellman & Company, in relation to “seriously unethical behaviour” over two deals that ensnared a BISX-listed insurer and the government’s Bahamas Mortgage Corporation. Mr Kellman, who declined to comment when contacted by Tribune Business

• Blasts ‘seriously unethical behaviour’ • Urges ‘disciplinary action’ by the Bar • Deals ensnared Colina, Mortgage Corp yesterday, saying he was unaware the ruling had been issued, first represented both Colina Insurance Company and Lion Management Company in a $175,000 deal involving an apartment building and associated land in the Estella Anne Tract in western New Providence. A $10,000 deposit was paid to Colina, as vendor, and the sales agreement stipulated that the purchase price balance was to be paid within 60 days. However, Lion Management Company never paid the outstanding $165,000 even though the publiclylisted life and health insurer had sent the property’s

conveyance to Mr Kellman on July 18, 2012, so he could arrange its execution by the buyer. Colina, which ultimately replaced Mr Kellman as its attorney with Alexiou, Knowles & Company, the law firm of its principal, Emanuel Alexiou, determined that Lion Management Company had defaulted on the deal and that the transaction was null and void. However, Mr Kellman failed to return Colina’s conveyance and its other documents associated with the failed sale. This forced the insurer to initiate legal action to recover the

documents, and for which it obtained a default judgment, but Colina alleged the papers had yet to be returned. And, unknown to the BISX-listed insurer, Mr Kellman - even before it determined the sale was void - had lodged and recorded the conveyance in the Registry of Records on March 20, 2013, despite the sale to Lion Management Company never being completed. This had the effect of transferring title to Lion Management Company even though it had never

SEE PAGE 6

$4.39

ANDRE FOSTER

BTC facing ‘day by day’ fight on mobile rebound By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas Telecommunications Company (BTC) faces “a real day-byday fight” to reclaim mobile market share lost to Aliv, its newly-appointed chief executive has admitted. Andre Foster told Tribune Business the carrier is “pretty confident” that the erosion of its mobile subscriber base has “bottomed out” after its ultimate parent, Liberty Latin America, revealed earlier this week that it had added a net 2,000 customers in the 2020 fourth quarter. He added, without providing details, that BTC believes new products that it plans to launch in the 2021 second half will “help us reclaim some of our mobile subscriber base”. One initiative, which Mr Foster said BTC has been “a little slow to get out”, is the launch of a postpaid product “that behaves like a pre-paid product” and is targeted at the latter segment. “We’re pretty confident that is the case,” he added, when asked if BTC’s mobile subscriber losses over the past four-plus years have halted and even started a slow rebound. “We continue to look at how we can maintain and grow back that subscriber base. “We feel that it’s bottomed out. It’s going to be a real day-by-day fight to reclaim and get customer trust to come back to us.

SEE PAGE 4

PAGE 2, Thursday, March 4, 2021

THE TRIBUNE

GB POWER’S $15M RECOUP GENERATES MIXED VERDICT By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net GRAND Bahama businesses yesterday gave a mixed verdict over Grand Bahama Power Company’s (GBPC) move to recover $15.6m in Dorian restoration costs via an extra charge to their bills. Some said they understood why the electricity monopoly needed to recoup the costs associated with restoring its uninsured transmission and distribution infrastructure in the category five storm’s wake, while others slammed the extra burden they fear this will impose as they seek to recover from both Dorian and COVID-19. Kenneth Knowles, part-owner of Grand Bahama Industrial Supplies & Gases, told Tribune Business he had “mixed feelings” over GB Power’s implementation of the Storm Recovery and Stabilisation charge with effect from January 1, 2021.

GB POWER HEADQUARTERS While acknowledging the impact on business and residential consumers, he added that he “understands” why it needs to cover the restoration costs. “I have mixed feelings because I can understand both sides of the aisle on this issue,” Mr Knowles said. “The Power Company has the capacity to generate power for a couple hundred thousand customers, but then they have a customer base of no less than 16,000. “So they are trying to spread that cost amongst 16,000 customers, when you have the capacity for 200,000. It puts them in a tough spot.” While he has

not yet seen his electricity bill for 2021 to-date, Mr Knowles said he “does not have a major issue with this”, agreeing that the electrical utility has to pass costs on to consumers. However, he warned: “If they weren’t insured, then I would have a problem with that, because then that would mean they are collecting monies and not insuring the assets against such situations.” GB Power and the Grand Bahama Port Authority (GBPA), as its regulator, have consistently argued that the new charge, which will be a separate line item in customer bills, will

represent an increase of less than $7 per month for the “average” residential customer, and $24 for the “average” business customer, in a bid to soften the blow and any consumer push back/fall-out. The charge for the three customer categories was initially set at: • Residential - $0.013 cents per kilowatt hour (kWh) or 1.3 cents • Commercial - $0.008 per kWh or 0.8 cents • GSL (industrials) $0.010 per kWh or one cent The utility also said the monthly amount paid by customers will depend on consumption, adding that the Storm Recovery and Stabilisation charge was standard global electricity practice for recovering costs associated with posthurricane restoration. GB Power asserted that it represents the fairest and most transparent way to finance the rebuilding of transmission and distribution infrastructure that was

devastated by Dorian, and for which it is unable to obtain insurance for. And GB Power’s customers will themselves be the ones who benefit from the restoration of electricity service and a more robust network. Pointing out that no insurer will cover transmission and distribution (T&D) infrastructure in a hurricane belt, it added that a separate line item on bills was the best way to finance the restoration recovery as this would prevent the utility from earning a profit on the recovery fee in nonstorm years. But James Rolle, the Dolly Madison Home Centre’s general manager, took a harder tone. He said: “Any added expense, or any added cost to the expense of any businesses or even individuals, it becomes more burdensome to the individual or the company. “My personal experience with Grand Bahama Power is that there has always been a fluctuation

in my charges anyway, because if my light bill is high one month, I make an adjustment and it goes down the next month. But from a business perspective right now, Grand Bahama really has gone through too much.” He added: “When you’re setting up any kind of business or expanding, you have to do your research. You have to think about the capacity, first of all, and take care of those businesses.” “Also you also have to think of the capacity of the business, and how are the business themselves that you are taxing. How are they making up for the losses that they’ve had, because it’s not only the Power Company that lost because of Dorian. The businesses have lost, too. “So, I mean, it’s unfair. They could come up with some other ways of recouping the losses. It may take a longer time to recover, but you can just expect to get it all back right away.”

Bahamas ‘leveraging all’ avenues over arbitration By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

A CABINET minister yesterday said The Bahamas is “leveraging all avenues” to establish itself as an international arbitration centre and exploit alternative dispute resolution (ADR). Elsworth Johnson, minister for financial services, trade and industry and Immigration, addressing the House of Assembly during the mid-year Budget debate, said: “We are leveraging all avenues to highlight that The Bahamas is still the clear choice, even during these uncertain times, for alternative dispute resolution.” “As we shore up the financial services industry, we see the opportunity to create new opportunities in areas that have long been talked about, but not substantively pursued. We have

ELSWORTH JOHNSON heard for quite some time that alternative dispute resolution or ADR could provide for new avenues of economic growth and employment. This is yet another initiative in which we have made a conscious decision to invest through capacity building.” Mr Johnson said his ministry’s ADR unit was formed in mid-August 2020 and, within the first six months, has developed a “comprehensive” two-year strategic plan to establish this means for settling commercial and other

types of disputes. The ADR unit will produce an historical analysis of past consultancies and work done in relation to a “permanent court of arbitration”, and then continue analytical work on the “international commercial arbitration survey and the international commercial arbitration executive council of The Bahamas”. Mr Johnson added: “The two-year strategic plan also sets out the rationale for establishing The Bahamas as a centre for international arbitration”, which has become an important tool for “economic development”. Advocates for making The Bahamas an international arbitration centre, such as former Bar Association president, Dr Peter Maynard, have long been pushing for legislation that would facilitate the development of a Bahamian arbitration industry.

TECHNOLOGY FOCUS AT FINANCIAL CONFERENCE A CABINET minister will today give opening remarks at a Bahamian financial services industry seminar on growth

opportunities from fintech (financial technology) and digital assets. Elsworth Johnson, minister of financial services, trade and industry and Immigration, will address the symposium being held by his ministry at 10am this morning. The Fintech and digital tokens: Legislation, regulation and practice in The Bahamas summit will gather legal and regulatory professionals, together with industry practitioners, to review legislative and regulatory changes - as well as practical advances in financial technology and digital assets in this nation. The virtual seminar is the fourth of its kind to be held by the Ministry of Financial Services, Trade and Industry and Immigration. Other virtual events have covered developments in international trade and alternative dispute resolution (ADR). “Whereas our first symposium was focused on updating the industry as we began to understand the full impact of COVID-19, this symposium is focused on the future of financial services,” Mr Johnson said. “The Bahamas is in the vanguard of efforts to include and regulate Fintech

and digital assets. By educating key stakeholders and the general public, we are working to raise awareness about the opportunities these new efforts can present for Bahamians.” The symposium will have two panel segments. The first will focus on the legal and regulatory environment, and the second will feature Bahamian and international practitioners who are spearheading the areas of Fintech and digital assets. “We also want to empower our stakeholders to take advantage of the opportunities available by highlighting professionals who are using our modern legislative and regulatory frameworks to their advantage,” Mr Johnson said. “I really want to encourage financial services stakeholders, as well as the general public, to take advantage of this symposium, ask the relevant questions and engage with our expert panellists.” More than 250 persons have already confirmed their attendance. Others interested in attending may register by visiting the Ministry’s website at https://mofstii.gov.bs/ mofstii-events/fdt/.

THE TRIBUNE

Thursday, March 4, 2021, PAGE 3

BAHAMAS LEADS CARIBBEAN IN ‘ON-TIME’ VAT COMPLIANCE

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas had the “highest on-time” VAT filing rates in the Caribbean prior to the rate being increased to 12 percent in 2018, an Inter-American Development Bank (IDB) report has revealed. The multilateral lender’s Economic Institutions for a Resilient Caribbean report, released last month, disclosed that 75 percent of Bahamian VAT filings were made on time based on data collected in 2017. This compliance rate exceeded all other major Caribbean markets, with Trinidad & Tobago next best with 73 percent of all filings being made on time by VAT registrants. Jamaica, at 65 percent, just exceeded the region’s 60 percent average, but both Barbados and Guyana fared poorly with 45 percent and 43 percent on-time

75% of filings met deadline prior to rate hike compliance, respectively. “On-time filing rates vary across Caribbean countries and among tax types,” the IDB report said. “The Bahamas has the highest on-time filing rates for the VAT in the region with 75 percent, while Guyana has the lowest at 43 percent. “Jamaica has a relatively steady percentage of ontime filing across tax types of between 65 and 67 percent. In contrast, Trinidad and Tobago has a high percentage of on-time filing rates for the VAT at 73 percent.” The compliance rates cited by the IDB date back to when The Bahamas had a 7.5 percent low rate, broad-based VAT model and before the Minnis

administration hiked this to 12 percent. It is unclear whether the 75 percent ontime filing rate has been maintained with a higher rate VAT that has increased administrative complexity due to the number of exemptions now introduced. The VAT rate increase in the 2018-2019 budget was justified on the basis that extra revenues were required to pay-off some $360m in unfunded spending arrears for which no monies had been allocated. Some $282.7m of these arrears had been paid off as at end-December 2021, with the government having previously given itself three years to wipe out the full amount. However, its VAT adjustments ran counter to the advice given in the IDB report. “Keep it sound and simple,” it advised on tax policy. “Simplify the good connection between tax policy and tax administration, and curb exemptions.

FIRM UNVEILS MOBILE SHOPPING APP, PORTAL A BAHAMIAN company yesterday unveiled a mobile shopping app and website that will provide another online access point for conducting commerce. Capital City Marketing said the launch of its Power Pointz e-commerce app, and website www.powerpointz. com/marketplace, will be free on all iOS and Android mobile devices. It added that Power Pointz’s merchant community will also be accessible to Bahamians. “We started out with just a digital loyalty solution recently, and now we’ve added the e-commerce piece and already we have over 5,000 downloads,” said

Kathy Ingraham, Capital City Marketing’s director and consultant. The merchant marketplace aims to provide an easier shopping experience for all merchants and customers, the company said. It added that, especially for merchants without their own websites, it provides an online sales channel while customers can pay online and either pick up or arrange home delivery. Capital City Marketing said Power Pointz provides store management and performance features for merchants, while boosting customer satisfaction and flexibility. “The app/website

is a top of the line promotional too,” said Claudia Decius, marketing assistant at Power Pointz. “For the merchant, we are able to offer the option and the opportunity to make special offers, and target existing and new customers through proper content management and strategic promo deals.” Capital City Marketing said merchants have total control of their online store’s daily operations, with real time updates and reports and next day online payments. Customers can pay with debit and credit cards, while exploring merchants and products on both the app and website.

“Tax policy and revenue administration are intrinsically linked, and the cost of an effective revenue administration goes far beyond the revenue losses. Thus simplicity is an important value when designing a tax system in order to promote voluntary compliance, reduce compliance costs and facilitate enforcement—the key functions of the administration.” The IDB report also called on The Bahamas to speed up and simplify the VAT registration process. It said: “The taxpayer registration process in The Bahamas is available online, but it can take up to 21 days for officials to review all the information.” And, when it came to revenue management, it added: “Guyana, The Bahamas and Suriname should consider establishing a special organisational unit devoted to preparing economic studies (like the ones in Barbados, Jamaica, and

Trinidad and Tobago). “In general, these units should include a specialised analytical team focused on tax collection trends, monitoring the hidden economy, revenue yields from audits, understanding taxpayer behaviour, and providing input to government budgeting processes of tax revenue forecasting and estimation. For these matters, strong inter-institutional co-ordination is needed.” Therese Turner-Jones, the IDB’s general manager of the country department Caribbean group, said: “As Caribbean governments pivot towards smart and resilient investments, strong economic institutions are needed to ensure public spending benefits all citizens. “In addition to recommendations for improving fiscal management, the [report] also proposes important monetary and financial system reforms

to ensure Caribbean institutions and people are prepared for the future.” Moisés J Schwartz, manager of the IDB’s Institutions for Development department, and one of the editors of the book, added: “Stronger and better-equipped institutions constitute a formula for success, and sound economic institutions are a prerequisite for economic development and prosperity. The reforms needed in Caribbean countries should not be underestimated or postponed.” “Countries that have engaged in institutional development have been shown to be better equipped to confront economic shocks, such as the coronavirus pandemic, be more resilient in responding to them, and have better prospects to recover more rapidly,” said Diether W. Beuermann, economics lead specialist for the IDB’s Caribbean department.

Local manufacturers gain ‘thousands’ in tax breaks By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister yesterday said his ministry has granted “hundreds of thousands of dollars” in tax breaks and concessions to manufacturing and other businesses since July 2020. Elsworth Johnson, minister of financial services, trade and industry and immigration, addressing the House of Assembly during the mid-term Budget debate, said an information webinar is being jointly planned for mid-March with the Ministry of Finance and Ministry of Agriculture and Marine Resources to small and medium-sized manufacturers more aware of the incentives available to them. He added: “New registrants on to the Industries Encouragement Act can apply and pay online for concessions via the web

page on the official website. Local manufacturers will enjoy a faster process that gives quick access to related tax relief and concessions.” Mr Johnson further pledged his ministry’s desire to improve the “ease of doing business” by “improving the speed of processing requests”, while adding that The Bahamas had moved to secure continued duty-free access for its exports to the UK following that country’s Brexit exit from the European Union (EU). “The Bahamas has successfully deposited its instrument to provisionally apply and exchange notes to facilitate trade between CARIFORUM, the United Kingdom and Northern Ireland on January 1, 2021,” Mr Johnson said. “Following the exit of the United Kingdom from the European Union, these formal arrangements will ensure that exports from

The Bahamas continue to benefit from duty-free access to the United Kingdom or Northern Ireland.” He added: “The [trade] unit is currently working along with the Office of the Attorney General and the Law Reform Commission to review existing intellectual property and competition policy and, of course, on the horizon, we have the nation’s eventual accession to the World Trade Organisation, which will bring even more trade opportunities for local businesses on the trade market.” The trade unit is also preparing a five-year review of the CARIFORUM/ European Union Economic Partnership Agreement (EPA). “Several priority pieces of draft legislation are undergoing a gap analysis to ensure that commitments in the EPA are met,” Mr Johnson said.

Cable pushing towards customised TV content By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABLE Bahamas executive yesterday said a “recommendation engine” will eventually replace its standard TV guide to give consumers more customised options on what they watch David Burrows, Cable Bahamas’ marketing manager, speaking on a Zoom conference, said the company’s REV TV segment is developing such a “crucially important” tool for further

enhancing the customer experience. He added: “That is actually one of the things that REV has been building, and I know that in the next iterations of the TV guide that we have, you will have more and more of the recommendation engine-type experience. “This is where the content that you’re looking for, the guide understands what you watch, and then comes back and says: ‘Well, you saw this, you might like that. That’s monumentally important.”

A “recommendation engine” is a solution that allows companies to offer their customers product recommendations in realtime. For example, when consumers use the online video-sharing platform, YouTube, to view one video it will suggest to them others that may be to their interest. Mr Burrows said “over the top” content platforms such as Netflix all have recommendation engines. “They take a look at your

SEE PAGE 4

PAGE 4, Thursday, March 4, 2021

THE TRIBUNE

‘MASS’ REQUIRED FOR TAILORED TV CONTENT By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

to produce those shows. They’re extremely expensive, and so as much as consumers have thought that they would like a-lacarte- ,I think it’s because they don’t know what the implications would be. The quality and the amount of content would not be anywhere near the same”. She added that content distributors, such as cable companies, are now trying to respond to these need by creating products that have “few but targeted content” so consumers can get what they want and throw out

what they do not. David Burrows, Cable Bahamas’ marketing manager, added: “Our customers may wish to have a-la-carte, but the reality is if we wanted to make TV One another a-la-carte option that channel could cost $5, $6 or $10 for that individual channel, because they are relying on mass. They’re relying on a number of people buying into the same package. “So we have to look at what the customer is actually watching, and that’s what we’ve been very good

at over the past five or six years; really getting a real understanding of what is it that you want to see and what do you need to see. “We talk about sports. Sports is very expensive. I would say that ESPN and ESPN2 are the most expensive channels that we have on our entire network. Because they have to go out and negotiate with every single one of the basketball teams, the baseball teams, the football teams, and so forth. So there’s a lot that goes into building a package, a tremendous amount of market study.”

CABLE PUSHING TOWARDS CUSTOMISED TV CONTENT BTC facing ‘day

strength of our network. We continued to invest throughout the COVID-19 period, both on the mobile network and the fixed, and the capacity on the network. Customers are enjoying the benefits of that investment.” BTC’s revenues suffered a 12.6 percent year-over-year decline in 2020, dropping by $26.2m from $207.3m in the prior year to $181.1m for the 12 months to end-December, a fall that will largely have been driven by COVID-19 and its devastating impact on consumers. The carrier’s revenue also fell by $48.1m over a two-year period when the 2020 figures are measured against 2018. That equates to a 21 percent decline. Still, BTC enjoyed gains - albeit modest - in both post-paid and pre-paid mobile subscribers in the 2020 fourth quarter as it continues to battle upstart rival Aliv for market share. Data provided by Liberty Latin America recorded BTC as adding 700 prepaid subscribers, and 1,300

post-paid subscribers, for a net gain of 2,000 in the three months to end-December 2020. That took its yearend mobile subscriber base to 181,100. Of those, some 150,800 were pre-paid clients and 30,300 post-paid customers. This represented an increase on the 179,100 subscribers recorded as being on BTC’s books at endSeptember 2020. It may be too early to assert that BTC’s mobile customer base erosion has bottomed out following the introduction of competition via Aliv in November 2016, but the data provides some hope for Mr Foster and management. BTC has also been increasing customers in the more lucrative post-paid segment for several quarters now in a further sign of encouragement that it is starting to fight back against Aliv’s incursions into its once-lucrative mobile monopoly, which peaked at around 350,000 to 360,000 subscribers prior to market liberalisation.

CABLE networks “need mass” to continue to produce quality content “a-la-carte” because the associated costs are extremely expensive, industry executives said yesterday. Rori Peters, senior vice-president for content distribution and sales strategy for the US-based cable channel, TV One, told a Zoom conference that providing content that can be accessed separately - rather than as a bundled package

FROM PAGE THREE

behaviour, and then they come back and they recommend programming that they think you will watch out a of a certain degree of certainty,” he added. Rori Peters, senior vice-president for content distribution and sales strategy for the US-based cable channel, TV One, said: “Everybody’s spending a lot of time trying to get on to the smart TVs for the reason that I mentioned before, which is ease of navigation for the consumer. “If it’s easy for them to find your content, then you have a higher likelihood of them actually watching your content. If they constantly have to leave the

- is a function of obtaining rights for particular programming. While her network may acquire a particular television programme, it may not have the rights to air the content in every market where TV One has a presence, which may lead to some “blacking out”. “A lot of people don’t want their content to be made available as a one-off, they want to be a part of a package,” Ms Peters said. “Quite honestly, economically, it is pretty much the only way that most networks

environment that they’re in, then discovery becomes more difficult.” Predicting that consumers will see more of these smart TV arrangements, where content will be bundled in front of the consumer to have their pick, Ms Peters said: “There are people out there who are fighting to get their apps on these smart TVs, coming up with lucrative partnerships so that when somebody turns on their TV, they can see all these options right in front of them and hopefully make discovery easier.” Mr Burrows said the overriding objective for Cable Bahamas is to “inform” and “engage” its customer base. He added: “We built the entire platform based on

could continue to produce quality content.” Giving consumers an “a-la-carte” option would substantially increase the cost of cable packages because it would be harder for providers to bundle those individual channels and networks together into one. Customers increasingly want to pick and choose which channels they want rather than giving them a set package based on demographic. Ms Peters said TV networks “need mass in order to have the revenue

what customers told us, or our interpretation of what the customers told us. Now we put those packages up on the website.” Signalling that the “market is changing”, Mr Burrows said Cable Bahamas has already gone to the Utilities Regulation and Competition Authority (URCA) to disclose it is doing market research into customer preferences. “We need to be in a position where we can stay in tune with that market, deliver market changes that our customers are looking for, to be sure that the cable television product falls within the ecosystem of the entertainment and information that our customers want,” he added.

by day’ fight on mobile rebound FROM PAGE ONE

We have some things coming out that will help win back customers.” “A lot of that is happening especially on the pre-paid side,” Mr Foster continued. “The pre-paid side is a really rough business. You almost have to manage it by the hour. Subscribers have the option to move back and forth. What we are trying to do is develop a post-paid solution for those subscribers. “What’s beautiful about pre-paid product is you don’t get the sticker shock with any overages. We’ve been working on a solution; we’ve been a little slow to get it out but think we can get it done in the first half of this year. “Our post-paid numbers continue to be very strong. I think that’s based on the

THE TRIBUNE

Thursday, March 4, 2021, PAGE 5

Minister tells cruise lines: ‘Don’t dump’ on Nassau FROM PAGE ONE we sometimes find is that the threshold to get into business with the cruise companies is insurmountable for a number of people. “There’s the level of insurance you need, and their take from their guests. If you are selling something for $30, they may want to sell it to their passengers for $60. They’re putting the price point too high, and therefore the customers feel they won’t get value. “I always try to encourage the cruise companies not to demand so much from their customers; let’s get the business up and running for it to get a reputation and demonstrate good value for money before you decide to take on a bit extra so you can make much more from your passengers going on these excursions,” Mr D’Aguilar continued. “It’s not enough to dump the entire problem on the destination. We also need the cruise companies to facilitate and assist in helping these businesses to get traction before they demand a greater piece of the pie.” The cruise lines’ selling of shore tours, excursions, attractions and things to do in port has long been a controversial subject among Bahamian providers, merchants and vendors. Concerns have been raised in the past that the vessels’ on-board marketing initiatives direct passengers to certain providers while others are excluded. And the mark-ups charged by the cruise lines, when they sell Bahamian

NASSAU Cruise Port. operators’ products to passengers on board, have been another sore point as indicated by Mr D’Aguilar. “In an ideal world, if the tour is worth $40, let’s not ask anything else for it,” he said yesterday. “Let’s create in the minds of passengers value for money. Let it get traction. As it progresses and reports come that this is an interesting, fun excursion, then add on a certain amount for the cruise companies for selling it on board their ship. “It’s not enough for the cruise companies to say there’s nothing interesting to do. The question is why there’s nothing to do. You have an interesting idea, but when they [the cruise lines] sell it to the customer, the customer believes there’s no value.” Mr D’Aguilar’s “push back” comes at a sensitive time given the ongoing uncertainty over when the cruise industry will meet US health protocols and be allowed to resume sailing, plus the government’s reliance on the likes of Royal Caribbean (Grand Lucayan), Carnival (Grand Port) and Disney (Lighthouse Point) to pick up pre-pandemic projects it

is relying on to revive the economy. But while the weaknesses in the downtown Nassau/ Bay Street tourism product have long been known, many in the Bahamian tourism industry will likely back Mr D’Aguilar’s comments by asserting that the decline has not been helped by the absence of a true partnership with the cruise lines. They will point to the industry’s increased use of private islands ahead of Nassau and Freeport; the lines leaving their retail, restaurant and other facilities open while in port; restrictions on the mark-ups local operators are allowed; and the cruise sector’s move into this space with their own attractions such as Royal Caribbean’s proposed Paradise Island “beach break” destination. Mr D’Aguilar yesterday conceded that “it’s a bit more blame on our side in developing interesting excursions”, adding that Mr Israel’s criticisms do have some merit. “I always lament that we have 10,000 passengers coming here every single day of the year, and it’s a poor reflection on the destination that we haven’t been creative

and entrepreneurial to take advantage of that steady flow of customers,” he said. He added that the government had created the Tourism Development Corporation, headed by Janet Johnson, to help address the cruise line criticisms and “tap into and create the linkages between the domestic economy and the tourism sector; to create additional tours”. Admitting that there had been much talk about fostering such linkages, albeit with little “traction”, Mr D’Aguilar said one of the reasons that Atlantis and its water park amenities were the most attractive cruise passenger excursions pre-COVID was because of the mega resort’s ability to accommodate large numbers. Suggesting that The Bahamas will have to make “a substantial investment” in its tourism product postCOVID to accommodate ever-growing numbers of cruise passengers, the minister said local providers also have to compete against the cruise ships’ own attractions when they are in port. “They make it difficult for

people to come off the ship, especially if they have been to the destination a couple of times,” Mr D’Aguilar added. “We really have to be on our game and mobilise all our entrepreneurial pieces to make it happen. It’s going to require a lot of investment, and we need the help of the cruise companies as well.” Mr Israel previously told Tribune Business that Nassau must do far more to overhaul its “product” postpandemic as the identity of its most popular tour, visits to locals hotels and their amenities, “tells you a lot”. While praising the private-public partnership (PPP) with Global Ports Holding for Prince George Wharf’s $268m transformation, Mr Israel said he and other Carnival executives had repeatedly urged the government to constantly refresh Nassau’s attractions, excursions and tours offering if it was to rebuild its reputation as a leading tourism destination. He explained that this was especially important as many of the passengers on Carnival’s three, four and five-night cruises through The Bahamas were repeat

customers who had visited the city before, and therefore needed new and exciting activities to entice them off the ship. “One of the issues we’ve stated to the Bahamian government is what Nassau needs more than the maritime facilities is the enhancement of the destination for activities,” Mr Israel said. “Over the years there has been very little product to offer people coming again and again. “It’s not the port itself, it’s the product; the availability of” new attractions and excursions for passengers on short-haul cruises who have visited Nassau before on previous trips. In the absence of new and upgraded products, Mr Israel added: “Prior to COVID-19, we were only able to sell 26 percent to 28 percent of passengers a tour.” This, he added, meant that only 700-800 passengers on a 3,000-person cruise ship went on a tour or excursion, limiting the income and revenue earned by the Bahamian-owned tourism operators that typically populate this space.

PAGE 6, Thursday, March 4, 2021

THE TRIBUNE

Judge calls for criminal probe into attorney’s ‘possible fraud’ FROM PAGE ONE paid for the property. Colina Insurance Company alleged that it only became aware of the deception when it instructed Alexiou, Knowles and Company to search the Registry of Records after Mr Kellman refused to return its documents.

YOUR

Justice Thompson’s ruling, and the legal filings it records, showed Mr Kellman moved “like a bolt of lightning” in playing a central role in a second deal for the same piece of real estate where he again represented both parties. Some seven days before the conveyance involved in the failed Colina deal

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

was lodged for recording, Mr Kellman and his firm were instructed to conduct a title search on that same property - still belonging to Colina, but now shown as owned by Lion Management Company in the registry - by the Bahamas Mortgage Corporation. The Mortgage Corporation’s legal filings revealed that Mr Kellman produced a conveyance transferring the same Estella Anne parcel from Lion Management Company to new buyers, Caleb Dorsett and Shamene Bain, that was dated March 14, 2013. And that very same day he submitted a report to the Mortgage Corporation stating the buyers had good title, and there were no liens or outstanding taxes due on the property. Both these events occurred some six days before the Colina conveyance was lodged for recording, and they persuaded the Mortgage Corporation to make a $237,500 loan that was secured on the apartment building and associated land

To advertise in The Tribune, contact 502-2394

via a mortgage loan. Some $46,000 of the loan proceeds were used to renovate the property, but the Mortgage Corporation said the deal ran into problems because Mr Kellman failed to obtain the thenStamp Duty exemption for Mr Dorsett and Ms Bain as first-time home buyers. This ultimately resulted in the conveyance being left unstamped and unrecorded, as due taxes were not paid, and Mr Dorsett and Ms Bain subsequently defaulted on the loan. When it moved to repossess the property, in a bid to realise its mortgage security, the Mortgage Corporation uncovered the details involving the failed Colina transaction. Justice Thompson’s ruling, and legal papers filed in connection with the case, reveal multiple connections between Mr Kellman, his law firm and several of the parties involved in the two deals. Lion Management Company, the purchaser in the first deal, and whose shares were said to be beneficially owned by Rudolph Rolle, listed Hanna, Kellman & Company as its registered office. And Mr Dorsett, the purchaser in the second deal, was said to be an attorney “whose chambers at all material times were situated in Columbus House” at the corner of East and Shirley Streets. This is also where Mr Kellman and his

law firm are based, and Mr Dorsett’s office was said to be “in close proximity”. Finding that there had been “certain seriously unethical behaviour”, Justice Thompson said that based on his understanding of the Penal Code it “appears to be a criminal offence involving possible fraud” that was committed by Mr Kellman. As a result, he ordered that his judgment be sent to the Bahamas Bar Association for “disciplinary action” and to Garvin Gaskin, the director of public prosecutions, “for investigations concerning any breach of the Penal Code with the hope that this matter is in fact given the attention it ought to receive”. Focusing directly on Mr Kellman, Justice Thompson blasted: “When attorneys act in matters such as these, they sit in a position of trust. A vendor should have no fear of dishonest actions when handing over the documents in a conveyancing transaction. “Attorney Kellman drafted the agreement for sale in the first transaction, and had full knowledge of its contents. He also drafted the agreement for sale in the second transaction being fully aware that the first transaction was not completed. “Despite several requests and notices to complete, he never responded as he ought to have. What is even

more damning is the fact that not only was he served with various documents joining him personally and his firm, but also judgments in default. There was still a deafening silence from him...,” Justice Thompson added. “This behaviour is not acceptable and requires serious attention by the relevant authorities including the Bahamas Bar Association, as I am of the view that Kellman’s actions were intentional and calculated. “The Bar has a duty to the public at large to ensure that persons practicing law are trustworthy and not allowed to bring shame and disgrace to this honorable profession. The reputation of the profession must be protected at all costs.” Finding that Lion Management Company “had nothing to convey” to Mr Dorsett and Ms Bain as a result of failing to complete the Colina deal, Justice Thompson ordered that all conveyances in the matter were “null and void and... set aside”. He repeated previous Orders that Mr Kellman and his law firm, Mr Dorsett and Ms Bain, and Lion Management Company repay the $237,500 to the Mortgage Corporation with interest running at ten percent per annum from the day the attorney received the loan proceeds almost eight years ago.

THE TRIBUNE

Realtor moves into new territory: $3bn projects ‘on table’ FROM PAGE ONE Business in a subsequent interview: “It’s time to get the word out. “I’m still very active in real estate, but I started MCV during COVID-19 when we were locked down for five months by the government and couldn’t even show a home. It gave me the opportunity to create a new business concept that I’ve been thinking about for quite a while. It’s landed. “All the projects I currently have on the table, it could get close to $3bn. It’s a big number, but would employ thousands of Bahamians.” Mr Carey explained that MCV will attract investors and capital to itself, with all the projects generated internally, rather than seeking to finance ventures by others. He added that it will seek to stimulate domestic investment and FDI, and feature education and mentorship components for young Bahamians. “It touches all these places,” Mr Carey said. “It’s more taking visionary ideas with a global strategy that has nation-building components and will attract capital. It’s my projects, my capital.” He added that a key element is to attract university-educated Bahamians with degrees to return to their homeland in a role with MCV that is more suited to their qualifications, rather than become “underutilised” in a narrow-based economy that may not value their education. “How do you stop the brain drain? Somebody’s got to do something,” Mr Carey told this newspaper. “How do you stop it and attract the Bahamian talent here? Having a tourism-based economy is not the solution. It cannot be. It has to stop. How do you bring that Bahamian with a master’s degree back home and give them a landing spot? “Their parents have sacrificed everything for them, and they have nothing to come back for because the tourism industry and financial sector is all we have. I think a lot of people see it and they cannot land it. MCV is a place where we will land ideas for the development of the economy and try to change things; the vehicle that allows visionary projects to exist. “If you interview 99

Thursday, March 4, 2021, PAGE 7 percent of Bahamians they’ll tell you they are dissatisfied with our government and dissatisfied with the state of our economy. How do you invite the educated Bahamian back and get them engaged? Nobody’s got the answer for it. They just accept the fact they don’t come back.” Mr Carey conceded that he is stepping outside the comfort of a 40-year real estate career with MCV, and said: “It’s risky but hopefully it will happen. Everybody is asking for details but I don’t have to validate these projects. We’re confident. When these projects are signed, sealed and delivered they’ll speak for themselves. “The pebble has been dropped in the water and we’ll see where the ripples go. We’ve attracted a lot of attention in a short period of time. I feel that once people know MCV exists my phone will ring. We’ll have some fun with it.” Mr Carey has hired Mark Shekter, co-founder and chief executive of Think8 Global Institute, as his chief global strategist. Montrealbased Think8 has guided companies in developing leadership, thinking creatively, advancing solutions and driving ideas from thoughts to structured reality. The firm has worked with start-ups and multinational corporations in sports, entertainment, energy, gaming, finance, retail and new technology. Think8’s methods are taught in university master’s degree programmes and national incubators. Mr Carey described Mr Shekter as “tough, but brilliant”, while Mr Shekter calls Carey “a true visionary”. The partnership is designed to team international experts with Bahamian citizens and residents. “I am driven by the desire to raise capital and allocate human resources to monetise innovation and disruptive ideas that would diversify the economy,” Mr Carey said in a statement. “Throughout my career I kept envisioning business opportunities that were outside the real estate space. “At the same time, I was meeting people from all over the world, and I realised that if I put the right team or teams together, MCV could provide opportunities that would promote nationbuilding, slow the brain drain and do what we have been talking about forever, diversify the economy. “I always remember that great Michael Jordan quote: ‘Talent wins games but teamwork and intelligence

win championships’. If I wanted to go into the biotech space, for instance, or marine, I had to find people who would embrace the opportunity and share my vision that it had to benefit The Bahamas.” Marine conservation; real estate funding in the affordable housing market; biotechnology; digital asset maximisation; Family Island development; and preservation and monetisation of

marine resources are some of the areas MCV is focusing on. MCV has also launched its own 501c3 charitable organisation, Bahamian Prosperity Foundation, tapping into US tax deductible contributions for Bahamian causes. Mr Carey cited as an example one of his programmes to provide some 42,000 hot meals to help ease hunger during the COVID-19 pandemic.

General Dentist

PAGE 10, Thursday, March 4, 2021

Publish your Balance Sheets and Financials in The Tribune. Call 502-2394

THE TRIBUNE

SUPPORT THE BLOOD BANK

SAVE A LIFE GIVE THE GIFT OF

BLOOD

BECOME A REGULAR DONOR

1 PINT CAN SAVE 3 LIVES GIVE BLOOD - GIVE LIFE

SOME HELPFUL TIPS BEFORE YOU DONATE:

4 You must have eaten at least once for the day.

4 You need at least 30 minutes between your last meal and donating blood. 4 You will need at least 10 minutes rest after donating blood. 4 You can donate blood every 8 weeks.

4 The Blood Bank will do FREE Pre-screening tests to make sure you are healthy enough to donate blood.

BECOME A REGULAR DONOR

PLEASE ENCOURAGE YOUR COLLEAGUES TO SUPPORT THE BLOOD DRIVES

Baker’s Bay Golf & Ocean Club, Great Guana Cay, Abaco is looking for:

Executive Assistant

The Executive Assistant will be responsible for supporting the project’s leadership team and working closely with their schedules, travel and coordination of meetings. Key Responsibilities • Schedule and coordinate project leaderships day to day calendars, meetings and any internal or external meetings • Assist in planning meetings, presentations and sends reminders re garding upcoming meetings • Assist in the coordination of all staff meetings and Director meetings • Prepare communications on behalf of the project leadership team and distribute when needed • Support the project leaders in providing support for general office duties, including answering phones, mailing, scanning, and distributing correspondence • Schedule travel, which may include, airfare, lodging, ground transportation and restaurant reservations, as well as assist with monthly expense reimbursements • When needed, coordinate in-person interviews or phone calls for project leaders • Assist in the overall daily operations of the project leadership team Key Responsibilities • Perform any other duties as assigned by management Skills and Qualifications • Bachelor’s degree • 3+ years of experience as an executive administrative assistant • Proficient in Microsoft Office programs • Exceptional verbal and written communication skills • Must possess high level of confidentiality and discretion • Excellent attention to detail, accuracy, and organizational skills Interested applicants may apply on or before March 12, 2021: www.dlccareers.com

THE TRIBUNE

Thursday, March 4, 2021, PAGE 11

US INFRASTRUCTURE GETS C- FROM ENGINEERS AS ROADS STAGNATE

AUSTIN Associated Press AMERICA’S infrastructure has scored near-failing grades for its deteriorating roads, public transit and storm water systems due to years of inaction from the federal government, the American Society of Civil Engineers reports. Its overall grade: A mediocre C-. In its “Infrastructure Report Card” released yesterday, the group called for “big and bold” relief, estimating it would cost $5.9tn over the next decade to bring roads, bridges and airports to a safe and sustainable level. That’s about $2.6tn more than what government and the private sector already spend. “America’s infrastructure is not functioning as it should, and families are losing thousands of dollars a year in disposable income as a result of cities having to fix potholes, people getting stuck in traffic or due to repairs when a water line breaks or the energy grid goes down,” said Greg DiLoreto, one of the group’s past presidents. “It’s critical we take action now,” he said, expressing optimism that the federal government is now making it a “top priority”. During Donald Trump’s four years in the White House, his administration often held “Infrastructure Week” events and touted transportation improve-

A PICKUP traverses the Franklin Street bridge in Michigan City, Ind. The historic structure, which was built in the 1930s, will be closed again for repairs in a few weeks and La Porte County officials have begun discussion of its replacement. America’s infrastructure has scored near-failing grades for its deteriorating roads, public transit and storm water systems due to years of inaction from the federal government. Photo: Matt Fritz/The News Dispatch/AP ments. But it was not able to push Congress to pass any broad plan to update the nation’s roads and bridges, rails and airports. The overall C- grade on America’s infrastructure — reflecting a “mediocre” condition with “significant deficiencies” — is a slight improvement from its D+ grade in 2017. The group cited in part state and local government and privatesector efforts, which have turned to new technology to pinpoint water main leaks and prioritize fixes. But of the 17 categories making up the overall grade, 11 were in the D range that indicated a “significant deterioration” with a “strong risk of

failure”. They included public transit, storm water infrastructure, airports and roads and highways, which make up the biggest chunk of US infrastructure spending at $1.6tn, according to the group. Four areas got Cs: Bridges, which dropped from a C+ to a C in 2021, energy, drinking water and solid waste. Just two areas — ports and rail — scored higher, with a B- and B, respectively. President Joe Biden’s administration and lawmakers in recent weeks have begun laying the groundwork for a long-sought boost to the nation’s roads, bridges and other infrastructure of $2tn or more,

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT

to be unveiled after Congress approves legislation on COVID-19 relief. Transportation Secretary Pete Buttigieg, who has been meeting with lawmakers about the effort, says the aim would be to rejuvenate the post-coronavirus pandemic economy and boost crumbling roads and bridges while encouraging alternative forms of transportation to cars, as well as create thousands of green jobs by making environmentally friendly retrofits and public works improvements. “This report card is a warning and a call to action,” Buttigieg told The Associated Press. “A generation of disinvestment is catching up to us, and

we must choose whether to allow our global competitors to pull ahead permanently, or to invest in the safety, equity, resilience and economic strength that superior infrastructure can bring to Americans.” Addressing the engineers group yesterday, he said the Biden administration was laser-focused in the coming days on getting COVID relief passed but the opportunity to expand and remake transportation systems was “just around the corner”, with support from both Democrats and Republicans. “This isn’t just a red vs. blue state issue; this isn’t just a rural issue or an urban issue. This is a national issue, and the benefits are enormous,” he said. As part of his department’s efforts to spur more climate-friendly projects, Buttigieg announced on Tuesday the first low-cost federal transportation loan in the Biden administration, up to $448m to Texas for toll-road projects in Austin to ease congestion. He touted in particular bike-friendly features such as a planned ten-foot-wide paved sidewalk for cyclists and pedestrians with access to trails. “As communities across the country continue to battle the pandemic, we are committed to being a partner to help them save money, reduce congestion and improve mobility, safety, and accessibility,” said

Buttigieg, a former mayor of South Bend, Indiana. In its report card, the group said years of inaction has had consequences. It cited growing costs being passed along to consumers as cities and states grapple with funding shortages to fix roads and bridges and delay other major upgrades to infrastructure. The nation’s weak infrastructure has been a problem for communities, including Texas’ recent struggles with power outages and water shortages after a brutal winter storm. Unusually frigid conditions led to frozen pipes that burst and flooded homes, and millions of residents lost heat and running water. According to the report card, the nation is only paying about half of what it needs to lift overall US infrastructure to an acceptable “B” level. Left unaddressed, America’s overdue infrastructure bill by 2039 will cost the average American household $3,300 a year, or $63 a week, the group said. It urged strong leadership, greater investment and “new approaches,” such as taking into account the reality of climate change in longer-term capital improvement plans. “Big and bold action from Washington, as well as continued prioritisation by states and localities, is needed to bring all our infrastructure to a state of good repair,” the report card said.

2020 PRO/ncp/00396

Probate Side In The Estate of GODFREY EMMANUEL BRAITHWAITE, late of #1 Palmetto Road, Sunset Park in the Southern District of the Island of New Providence one of the Islands of the Commonwealth of The Bahamas, deceased. NOTICE is hereby given that all persons having any claim or demand against the above Estate are required to send the same duly certified in writing to the undersigned on or before the 5th of April, 2021 after which date the Administrator will proceed to distribute the assets having regard only to the claims of which she shall then have had notice. AND NOTICE is hereby also given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned.

KAREN K. BUTLER & ASSOCIATES Attorneys for the Administrator P. O. Box CR-56481 Carmichael, N. P., The Bahamas

CHUB CAY RESORT AND MARINA Is seeking full-time:

FISHING GUIDE Duties include: • • • • • •

Conduct fishing expeditions for guests and assist with teaching proper fishing techniques Recommend best fishing spots based on guest’s needs and advise of fishing regulations Ensure safety of the guests and vessel during expeditions Assist guests with cleaning and preparing fish if requested Ensure fresh seafood (fish, conch, lobster) is obtained for the Resort on a consistent basis (at least twice a week) Maintain and care for company vessel and equipment.

Qualifications: • • • • •

Valid Fishing Guide License from the Department of Marine Minimum 5 years of experience Safety Oriented with CPR and First Aid Certification Experience working with international guests Professional with good communication skills and friendly personality Applicants must be willing to relocate to a small island. Air transportation, housing and meals included. Only shortlisted candidates will be contacted.

Please email resume, passport and NIB card to: careers@chubcay.com

PAGE 12, Thursday, March 4, 2021

THE TRIBUNE

Pandemic puts 1 in 3 nonprofits in financial jeopardy NEW YORK Associated Press MORE than one-third of US nonprofits are in jeopardy of closing within two years because of the financial harm inflicted by the viral pandemic, according to a study being released yesterday by the philanthropy research group Candid and the Center for Disaster Philanthropy. The study’s findings underscore the perils for nonprofits and charities whose financial needs have escalated over the past year, well in excess of the donations that most have received from individuals and foundations. The researchers analysed how roughly 300,000 nonprofits would fare under 20 scenarios of varying severity. The worst-case scenario led to the closings of 38% of the nonprofits. Even the scenarios seen as more realistic resulted in closures well into double digit percentages. Officials of Candid, which includes the philanthropic information resources GuideStar and Foundation Center, and the Center for Disaster Philanthropy, which analyses charitable giving during crises, said the most dire scenarios could be avoided if donations were to increase substantially — from the government as well as from private contributors. “If you are a donor who cares about an organisation that is rooted in place and relies on revenue from in-person services, now is the time probably to give more,” said Jacob Harold, Candid’s executive vice president. Among the most vulnerable nonprofits, the study said, are those involved in arts and entertainment, which depend on ticket sales for most of their revenue, cannot significantly their reduce expenses and don’t typically hold much cash. Other studies have concluded that smaller arts and culture groups, in particular, are at serious risk. Californians for the Arts, for example, surveyed arts and culture nonprofits in the state and found that about 64% had shrunk their workforces. Roughly 25% of them had slashed 90% or more of their staffs. And a report last week from New York State Comptroller Thomas P DiNapoli found that employment in New York City’s arts, entertainment and recreation sector tumbled 66% during 2020. “It really has been devastating,” said Kristina Newman-Scott, president of BRIC, a Brooklyn arts

institution best-known for its community TV channel and Celebrate Brooklyn! concert series. “We have a lot of empathy for our colleagues and friends in the arts space who, based on their model, see things that are just not going to be the same for them. They will be navigating a very different financial pathway.” Newman-Scott said BRIC has been helping sustain smaller arts nonprofits and offering artists unrestricted $10,000 grants through its Colene Brown Art Prize. “We are anxious to get back to in-person events,” she said. “But we want to do it as part of a community. We don’t want to be the only one. We want other organisations that are and have been doing extraordinary work, especially the smaller folks who have it harder because they just don’t have as many resources. We want them to be around us also.” Harold, the Candid executive, said that while arts and entertainment groups may be at particular risk, nonprofits from all sectors are in danger. According to the study, the District of Columbia was expected to lose the most nonprofits per capita, followed by Vermont and North Dakota. The most vulnerable nonprofits may try to reduce costs this year by narrowing their focus or by furloughing workers. Some may seek a merger or an acquisition to bolster their financial viability, Harold noted, although doing so would still mean that fewer nonprofits would survive. “A lot of nonprofit boards were able to say, ‘Oh, this is going to end soon’ and ‘We’re fine for a year,’” Harold said. “But they might not be fine for two years. So if they dragged their feet last year, they may find themselves really having to scramble this year to make the structural changes now.” The perils that nonprofits face are similar to the economic damage from the pandemic that forced so many restaurants to either close or operate at deep losses over the past year. An estimated 110,000 restaurants — roughly one in six — closed in 2020 and, according to the National Restaurant Association, the pandemic could force 500,000 more to shut down. President Joe Biden last week ordered the Small Business Administration to prioritise businesses and nonprofits with fewer than 20 employees in the awarding of loans through the Paycheck Protection Program.

THE TRIBUNE

Thursday, March 4, 2021, PAGE 13

Technology stocks lead indexes lower as yields resume climb Associated Press STOCKS closed lower yesterday as another rise in bond yields fueled concerns on Wall Street that higher inflation is on the way as the economy picks up. The S&P 500 dropped 1.3%,shedding an early gain. The pullback is the benchmark index’s second straight loss after clocking its best day in nine months on Monday. Technology companies bore the brunt of the selling, pulling the S&P 500’s tech sector down 2.5%. Microsoft and Apple both fell more than 2%. US government bond yields rose after easing a day earlier. The yield on the benchmark ten-year Treasury note climbed to 1.47% from 1.41%. When bond yields rise quickly, as they have in recent weeks, it forces Wall Street to rethink the value of stocks, making each $1

of profit that companies earn a little less valuable. Technology stocks are most vulnerable to this reassessment, in large part because their recent dominance left them looking even pricier than the rest of the market. On the flipside, banks benefit when bond yields rise, because it allows them to charge higher rates on mortgages and many other kinds of loans. Financial sector stocks were among the biggest gainers yesterday. Bank of America and Citigroup added more than 2%. “The good news to remember is there are other groups taking the baton,” said Ryan Detrick, chief investment strategist for LPL Financial, referring to banks and energy companies benefiting from higher rates, even as tech stocks take a hit. The S&P 500 dropped 50.57 points to 3,819.72. The Dow Jones Industrial

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SHERRY BURROWS of #20 Luckyheart Corner, P.O. Box N3140, Nassau, The Bahamas, intend to change my name to SHERRY THOMAS. 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, N.P., 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, CHYANN SYMONE CAREY and RASHAWN RICARDO BURROWS of Queens Highway West End, Freeport, Grand Bahama, parents of ELIJAH PRINCE-ARTHUR CAREY intend to change my child’s name (a minor) to ELIJAH PRINCE-ARTHUR BURROWS. 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 is hereby given that CARLINE VERNOT of P.O. Box N-10150, Off Market Street and Cordeaux Ave, 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 twentyeight days from the 4th day of March, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE NOTICE is hereby given that MACKESE MILFORT of Butler’s Way, Carmichael Road, 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 4th day of March, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Average slipped 121.43 points, or 0.4%, to 31,270.09. The technologyheavy Nasdaq composite lost 361.04 points, or 2.7%, to 12,997.75. Traders also sold off smaller company stocks, dragging down the Russell 2000 index 23.72 points, or 1.1%, to 2,207.79. Wall Street continues to look to Washington, where economic data, comments out of the Federal Reserve and President Joe Biden’s stimulus package remain front and center. Treasury yields hit the psychologically important 1.50% mark last week as investors braced for stronger economic growth but also a possible increase in inflation. “Some higher inflation at the beginning of a new economic expansion is

perfectly normal,” Detrick said. On Tuesday, Federal Reserve Governor Lael Brainard sought to calm financial markets by emphasising that the Fed, while generally optimistic about the economy, is still far from raising interest rates or reducing its $120bn a month in asset purchases. Federal Reserve Chair Jay Powell will speak today on monetary policy. Investors heard from him last week when he testified in front of Congress, but the format — a question-and-answer session with The Wall Street Journal — is likely to be more illuminating than Powell’s calculated answers to politicians. Investors are looking ahead to the February jobs

report tomorrow. Economists surveyed by FactSet expect employers created 225,000 jobs last month. The report also includes numbers for how much wages are rising across the economy, a key component of inflation. Overall, the economic outlook has been brightening in recent weeks following a surprisingly strong retail sales report which showed that $600 stimulus payments approved in late December had translated into a January jump in retail sales that was the strongest since June.

With prospects rising for passaged of President Biden’s $1.9tn COVID-19 relief package with $1,400 individual payments and good news on vaccine distribution, private forecasters have been busy revising upward their economic forecasts. Many believe the economy this year could see a rebound with growth coming in at the strongest pace since 1984. That would mark a significant rebound from last year when the economy contracted by the largest amount since 1946.

NOTICE

The Public is hereby advised that I, RASHARD JAMARL SHEPHERD of Nassau East Blvd., Prince Charles, Nassau, The Bahamas, intend to change my name to DAVID BAKARI COHEN. 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, N.P., Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE is hereby given that VALANDA JOSEPH of Treasure Cay, Abaco, 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 4th day of March, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE

NOTICE is hereby given that JAGRANI BHIMSAIN of Apt #12 Thurston Court, Clarks Lane, Oakes Field, 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 4th day of March, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that KENEL BRAVE of Cowpen Road, 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 4th day of March, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

MARKET REPORT www.bisxbahamas.com

WEDNESDAY, 3 MARCH 2021

BISX ALL SHARE INDEX:

CLOSE

CHANGE

1966.18

10.28

%CHANGE

YTD

YTD%

0.53 -126.28

-6.04

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

BISX LISTED & TRADED SECURITIES 52WK HI 4.70 33.05 2.00 2.58 2.10 6.00 6.90 3.28 6.15 4.29 6.16 12.77 3.64 6.85 10.88 8.44 14.60 4.25 9.00 16.00

52WK LOW 3.13 22.65 0.67 1.62 1.50 5.00 6.00 2.70 4.27 2.98 5.20 10.20 2.10 4.90 9.50 7.70 13.00 3.70 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 4.60 32.12 1.62 2.58 1.59 6.00 6.40 2.99 4.74 2.98 5.20 10.20 2.63 6.82 10.02 8.40 13.85 3.79 8.35 15.50

CLOSE 4.60 32.12 1.62 2.58 1.59 6.00 6.40 3.28 4.74 2.98 5.20 10.20 2.68 6.82 9.91 8.40 14.25 3.79 8.35 15.50

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 BSBGR1200371 BSBGR1321391 BSBGR1322498

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.04 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.04 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 97.72 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 93.92 100.00 100.00

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 BSBGR FX BSBGR1200371 BGRS FX BSBGR1321391 BGRS FX BSBGR1322498

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.29 0.00 0.00 0.00 0.00 0.05 0.00 (0.11) 0.00 0.40 0.00 0.00 0.00

VOLUME

5,000

1,000

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 19.2 34.5 N/M N/M N/M N/M 17.3 -7.5 33.9 16.2 11.6 14.1 26.3 14.6 15.3 11.5 17.5 18.7 8.9 24.6

YIELD 3.70% 3.92% 1.23% 1.16% 0.00% 0.00% 4.06% 0.00% 0.00% 4.03% 4.23% 7.06% 16.19% 0.88% 3.31% 2.86% 3.79% 3.17% 2.40% 3.94%

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% 5.22% 5.29% 5.65%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Dec-2037 15-Oct-2039 15-Oct-2049

MUTUAL FUNDS

Legal Notice

Notice INTERNATIONAL BUSINESS COMPANIES ACT

(No. 45 of 2000)

In Voluntary Liquidation

Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), HILLSIDE MANAGEMENT HOLDINGS LIMITED (the “Company”) is in dissolution. The date of commencement of the dissolution is 26th February, 2021. Dra. Florencia Beyhaut is the Liquidator and can be contacted at 25 de Mayo 455, 2nd floor, Montevideo, Uruguay. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before 31st March, 2021.

52WK HI 2.40 4.44 2.15 201.90 184.85 1.69 1.85 1.78 1.24 8.49 10.26 7.28 13.91 12.84 10.81 10.00 10.20 13.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.66 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 Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global 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 2.40 4.44 2.15 201.90 184.85 1.68 1.79 1.76 1.05 8.49 10.03 7.28 13.91 12.84 10.05 N/A 10.20 13.79

YTD% 12 MTH% 0.38% 4.56% 0.04% 1.37% 0.20% 2.56% 3.47% 3.47% 10.86% 10.86% 0.20% 0.65% -0.37% -2.43% 0.16% 0.20% -0.66% -14.82% 1.76% 1.76% -1.97% -1.97% 4.91% 4.91% 5.28% 15.75% 0.05% 3.96% -0.35% -6.34% N/A N/A 8.60% 8.60% 11.90% 11.90%

NAV Date

31-Jan-2021 31-Jan-2021 29-Jan-2021 31-Dec-2020 31-Dec-2020 31-Jan-2021 31-Jan-2021 31-Jan-2021 31-Jan-2021 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-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

THE TRIBUNE

Thursday, March 4, 2021, PAGE 15

EU, BRITAIN CLASH AGAIN IN LATEST POST-BREXIT SPAT BRUSSELS Associated Press

THE European Union said yesterday that Britain’s “unilateral action” on trade rules will breach international law and is threatening legal action as post-Brexit tensions continue to escalate between the two sides. Commission vice-president Maroš Šefcovic said in a statement that UK’s decision to unilaterally extend a grace period on checks for goods moving between Britain and Northern Ireland amounts to “a violation” of the so-called Northern Ireland Protocol.

prevailed up until now.” The EU’s anger was sparked by the British government’s decision to extend until October a grace period for checks on agri-food entering Northern Ireland that was set to expire at the end of the month. In September last year, the UK had already upset the 27-nation bloc when it considered — then backpedaled — legislation that would have given Boris Johnson’s government the power to override part of the Brexit withdrawal agreement relating to Northern Ireland. The sensitivity of

EUROPEAN Commission Vice-President Maros Sefcovic speaks during a media conference, after a General Affairs Council meeting, at the European Council building in Brussels. Photo: John Thys/Pool/AP The Protocol was designed to ensure an open border between Northern Ireland and the Irish Republic after Brexit. “This is the second time

that the UK government is set to breach international law,” Šefcovic said. “This also constitutes a clear departure from the constructive approach that has

Northern Ireland’s status was underscored earlier this year when the EU threatened to ban shipments of coronavirus vaccines to Northern Ireland as part of moves to shore up the bloc’s supply. That would have drawn a hard border on the island of Ireland - exactly the scenario the Brexit deal was crafted to avoid. Šefcovic held discussions yesterday with cabinet minister David Frost, the former chief Brexit negotiator now responsible for EU relations. “Lord Frost explained that the measures announced today, following official-level notification to

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 74° F/23° C Low: 51° F/11° C

TAMPA

SATURDAY

SUNDAY

MONDAY

A shower and a t‑storm; not as warm

Partly cloudy with lower humidity

Partly sunny and pleasant

A t‑storm in the afternoon; breezy

Mostly sunny and increasingly windy

Windy with times of clouds and sun

High: 78°

Low: 66°

High: 77° Low: 68°

High: 79° Low: 67°

High: 77° Low: 66°

High: 76° Low: 65°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

82° F

65° F

80°-68° F

81°-64° F

79°-62° F

73°-61° 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

ABACO

S

N

High: 75° F/24° C Low: 68° F/20° C

7‑14 knots

S

High: 78° F/26° C Low: 63° F/17° C

6‑12 knots

FT. LAUDERDALE

FREEPORT

High: 79° F/26° C Low: 64° F/18° C

E S

E

W

WEST PALM BEACH

W

uV inDex toDay

FRIDAY

W

N

| Go to AccuWeather.com

TONIGHT

High: 73° F/23° C Low: 56° F/13° C

High: 76° F/24° C Low: 66° F/19° C

MIAMI

High: 79° F/26° C Low: 63° F/17° C

7‑14 knots

KEY WEST

High: 74° F/23° C Low: 67° F/19° C

High: 78° F/26° C Low: 66° F/19° C

Forecasts and graphics provided by AccuWeather, Inc. ©2021

High: 77° F/25° C Low: 69° F/21° C

N

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

11:36 a.m. ‑‑‑‑‑

2.5 ‑‑‑‑‑

5:41 a.m. ‑0.2 5:51 p.m. ‑0.4

Friday

12:16 a.m. 12:35 p.m.

2.9 2.3

6:44 a.m. 0.0 6:49 p.m. ‑0.3

Saturday

1:20 a.m. 1:41 p.m.

2.8 2.1

7:52 a.m. 0.2 7:54 p.m. ‑0.1

Sunday

2:28 a.m. 2:52 p.m.

2.8 2.1

9:03 a.m. 9:02 p.m.

Monday

3:36 a.m. 4:01 p.m.

2.8 2.1

10:11 a.m. 0.2 10:09 p.m. 0.0

Tuesday

4:39 a.m. 5:03 p.m.

2.8 2.2

11:11 a.m. 0.1 11:10 p.m. ‑0.1

Wednesday 5:34 a.m. 5:56 p.m.

2.9 2.4

12:02 p.m. 0.0 ‑‑‑‑‑ ‑‑‑‑‑

0.2 0.0

sun anD moon Sunrise Sunset

6:30 a.m. 6:14 p.m.

Moonrise Moonset

none 10:20 a.m.

Last

New

First

Full

Mar. 5

Mar. 13

Mar. 21

Mar. 28

CAT ISLAND

E

W

High: 78° F/26° C Low: 71° F/22° C

N

S

E

W

8‑16 knots

S

7‑14 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 ................................................... 82° F/28° C Low .................................................... 67° F/19° C Normal high ....................................... 78° F/26° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 82° F/28° C Last year’s low ................................... 64° F/18° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 1.92” Normal year to date ..................................... 2.99”

ELEUTHERA

NASSAU

the commission earlier this week, were temporary technical steps, which largely continued measures already in place, to provide more time for businesses such as supermarkets and parcel operators to adapt to and implement the new requirements in the Protocol,” a UK government spokesperson said. Before their talks, Šefcovic said he would tell Frost “the European Commission will respond to these developments in accordance with the legal means established by the Withdrawal Agreement and the Trade and Cooperation Agreement.”

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 79° F/26° C Low: 71° F/22° C

High: 80° F/27° C Low: 72° F/22° C

N

High: 81° F/27° C Low: 67° F/19° C

E

W S

LONG ISLAND

tracking map

High: 81° F/27° C Low: 73° F/23° C

6‑12 knots

MAYAGUANA High: 82° F/28° C Low: 73° F/23° 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: 74° F/23° C

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

N

N E

W

E

W

H

High: 81° F/27° C Low: 73° F/23° C

S

S

7‑14 knots

6‑12 knots

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

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

WINDS NE at 6‑12 Knots NE at 8‑16 Knots NW at 8‑16 Knots SE at 4‑8 Knots W at 6‑12 Knots NE at 6‑12 Knots WSW at 7‑14 Knots WNW at 4‑8 Knots N at 6‑12 Knots ENE at 6‑12 Knots NE at 6‑12 Knots NE at 8‑16 Knots W at 7‑14 Knots NE at 6‑12 Knots W at 6‑12 Knots W at 4‑8 Knots WSW at 7‑14 Knots NE at 4‑8 Knots WSW at 7‑14 Knots N at 4‑8 Knots NNE at 4‑8 Knots ENE at 6‑12 Knots W at 7‑14 Knots NW at 4‑8 Knots NW at 6‑12 Knots NE at 6‑12 Knots

WAVES 4‑7 Feet 3‑6 Feet 1‑3 Feet 1‑2 Feet 2‑4 Feet 3‑5 Feet 2‑4 Feet 1‑3 Feet 3‑5 Feet 3‑5 Feet 3‑6 Feet 2‑4 Feet 1‑2 Feet 1‑2 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 3‑6 Feet 3‑6 Feet 1‑2 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 1‑3 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 5 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 78° F 78° F 78° F 78° F 79° F 79° F 75° F 75° F 81° F 82° F 78° F 79° F 79° F 80° F 79° F 79° F 78° F 78° F 78° F 78° F 80° F 79° F 76° F 74° F