03252020 BUSINESS

business@tribunemedia.net

WEDNESDAY, MARCH 25, 2020

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Port’s 50% tariff slash ‘for masses, not few’

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Bahamian airlines may seek COVID crisis assistance

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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ASSAU’S main commercial shipping port yesterday pledged that slashing all tariff rates by 50 percent for the next month will ease the COVID-19 pain for “the masses rather than the select few”.

Dion Bethell, Arawak Port Development Company’s (APD) president and chief

• Cuts to ‘flow through’ supply chain • And aid hard-pressed consumers • Free storage time increased 140% financial officer, told Tribune Business that the measures unveiled yesterday were designed to “flow through” the entire Bahamian supply chain with the ultimate effect of reducing food prices for hard-pressed consumers.

SEE PAGE 4

ARAWAK CAY PORT

Marinas lose ‘through roof’ bookings to virus

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE COVID-19 crisis was yesterday said to have cost Bahamian marinas what was shaping up to be “the best season ever” with bookings that were “through the roof” as recently as early March.

Peter Maury, the Association of Bahamas Marinas (ABM) president, told Tribune Business that the global pandemic “couldn’t have happened at a worse time” given that it coincided with the peak of the annual boating/yachting season.

He added that “it breaks my heart” to have to send 200 persons home between his Green Parrot and Margaritaville Paradise Island restaurant interests, together with the Bay Street marina, and said he would explore “what we can do” once their two weeks’ vacation and time owed period was over.

“I can’t even give you a quantifiable statement,” Mr Maury said, when asked about the extent of the economic fall-out after the government on Monday night effectively closed The Bahamas’ borders to incoming boat and yachting traffic.

Private sector ‘compiles’ concerns over lockdown

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE private sector is “compiling” its concerns over the potential 30-day lockdown extension and the sectors that will be exempted for presentation to the government, it was revealed last night.

Khrystle RutherfordFerguson, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman, told Tribune Business that the volume of issues expressed by businesses were “not overwhelming” given the

general understanding that this nation needed to do everything possible to combat the COVID-19 pandemic.

Speaking after Carl Bethel QC, the attorney general, revealed that Parliament will likely debate on Monday whether to extend the existing lockdown for a further 30 days, with a 14-day period also an option, Mrs RutherfordFerguson said the private sector was also keen for the government to use all stimulus tools at its disposal to minimise the growing economic fall-out.

SEE PAGE 5

AG: We can get ‘strict’ on banks

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Attorney General yesterday warned that the government could get “very strict” by forcing banks to close their branch doors as part of efforts to combat the COVID-19m pandemic.

Carl Bethel QC, speaking before the Cabinet meeting, said the availability of online and electronic banking channels, such as automated teller machines (ARMs) and debit/credit cards, meant Bahamian businesses and consumers were able to conduct transactions electronically rather than having to visit branches electronically.

“We can get very strict,” he warned. “Right now, for example, we could shut down all of the banks forthwith on the basis and understanding that most persons have some form or method of withdrawing cash from banks.

“There are deposit machines. ATM machines are both for the purposes of deposit and withdrawal, and the majority of workers in this country receive their payment via electronic means in any event. So these are all things to be considered if we are so advised by the medical practitioners.

“This is not something that the government is relishing doing. This is not something that we want to do,” Mr Bethel added. “This is something that we are advised that we must do, and I can only emphasise to the general Bahamian public and all residents in this country the critical urgency of fully obeying all of the requirements of the national, nationwide curfew.

“It is critically important.

We cannot have a policeman outside of every house.

People must self-protect.

The strongest human

SEE PAGE 5

“Fuel docks are shut down, travel is shut down, and a lot of ancillary facilities at marinas are shut down. We have some boats here paying storage fees but we’ve had to discount that.

This is the charter season when boats come to The Bahamas. It couldn’t have happened at a worse time.

There’s no good time, but what can you do.”

The Bahamas had earlier this year invested heavily in targeting the high-end boating/yachting market, viewing it as a lucrative, high-spending sector populated by high net worth individuals who could

spread their expenditure throughout this nation at every island they visited.

Dionisio D’Aguilar, minister of tourism and aviation, and his officials teamed with Bahamian private sector marinas to promote this nation at key Florida boat shows in Fort Lauderdale and Stuart, and Mr Maury said the message was starting to resonate based on initial industry business levels for 2020.

“After everything the minister of tourism did at the boat shows, and promoting The Bahamas and

SEE PAGE 5

PRIVATE Bahamian airlines will require financial assistance “to get back in the game” once the COVID-19 crisis has passed, an industry operator warned yesterday.

Anthony K Hamilton, president of the Bahamas Association of Air Transport Operators, told Tribune Business that most operators will shutdown as of midday today until March 31 after the government’s emergency powers yesterday expanded to include the domestic aviation sector.

Disclosing that temporary lay-offs had already begun, Mr Hamilton said the industry’s attention was also focused on ensuring any remaining international visitors - especially those on the Family Islands - were located and brought to Nassau so they could return to the US and other nations while they still have the opportunity.

Describing the coronavirus fall-out as “unprecedented”, he added that the Bahamian aviation industry was still pushing for a proper assessment of its economic worth so that policymakers can better understand its “overall contribution to the economic well-being of the country” and thus be open to providing it with financial assistance.

While the prime minister’s Monday night address,

and latest COVID-19 emergency order, did not specifically refer to domestic aviation, Mr Hamilton told this newspaper that “some adjustments” have been made to its flight schedule.

“Tomorrow, as of midday, there are some operators closing down until March 31,” he revealed. “This is unprecedented. I haven’t seen anything like this. This is unprecedented, not only for our sector but several other sectors.”

And the Association chief warned that some Bahamian carriers will “struggle” to restart operations once the pandemic is over, and may need financial help from the government or other parties to revive.

“I was just having a conversation,” Mr Hamilton told Tribune Business.

“To be specific about that, there’s been a cry from some operators that they’re going to need financial assistance to get back in the game.

“The likelihood is that the government will be expected to chime into that to some degree. Furloughs have begun, and to maintain operations some consideration will be necessary.”

Mr Hamilton said his carrier, Southern Air, will make two flights this morning and then close until March 31, which is when the government’s first COVID19 emergency order is set to expire. However, Carl

SEE PAGE 4

PAGE 2, Wednesday, March 25, 2020

THE TRIBUNE

SCOTIABANK JOINS LOAN HOLIDAY TREND SCOTIABANK (Bahamas) yesterday became the latest commercial bank to respond to the COVID-19 crisis by offering distressed borrowers a three-month loan repayment holiday.

Unveiling its Customer

Assistance Programme, Scotiabank said retail customers’ loan repayments will automatically be deferred for up to three months. However, those wishing to opt out can continue to make their

loan payments as they have always done.

Roger Archer, Scotiabank (Bahamas) managing director, said: “We are aware that our customers and their families are being impacted during

this challenging period. Our focus is to provide relief and help them manage through the financial stress caused by COVID 19.”

For retail customers, Scotiabank said repayments for secured and unsecured loans will be deferred for three months with a possible extension for another three months. Debt consolidation and fixed payment plans are also available for customers requiring longterm financial assistance The Canadian-owned bank said this offer includes mortgages, all Scotia plan loans, lines of credit and credit cards, and will be available up until June 2020. Loan fees and penalties for late payments will

be waived on customer assistance facilities.

As for small business, corporate and commercial customers, Scotiabank said it will provide support across various industries on a “case-by-case basis” to maintain their operations.

It added that this assistance may take the form of temporary principal payment relief on term loans for up to six months, with a corresponding extension on the loan. Scotiabank added that increased working capital lines of credit to cover payments and other business expenses may also be provided.

Scotiabank said it will waive loan fees for

additional working capital for businesses impacted

by COVID-19. And its online banking platform will continue to process payments to staff and suppliers, thereby providing customers with flexibility and ongoing connectivity to operate their business remotely.

The Canadian-owned bank said requests will be assessed on an individual basis. It urged customers to reach out to their relationship manager to discuss any need for support, and told them to sign up for online banking so they can conduct transactions remotely and practice social distancing to curb COVID-19’s spread.

CABLE TO WAIVE RECONNECT FEE CABLE Bahamas yesterday said it will waive reconnection fees for all customer accounts previously disconnected for non-payment as it moves to lessen the COVID-19 fall-out for Bahamians.

The BISX-listed communications provider added that it will also provide “Prime” or basic TV customers with 32 additional TV channels at no extra cost as part of its pandemic response.

Acknowledging that TV, phone and internet services have become especially critical for Bahamians, the company said the temporary reconnection fee holiday was designed to reduce the burden on struggling subscribers.

Franklyn Butler, Cable Bahamas’ chief executive, said: “This channel increase is a gesture of goodwill to our valued customers in this difficult time.

CIBC expanding loan holiday to credit cards CIBC FirstCaribbean yesterday said it is expanding its three-month loan repayment waiver to credit card holders who are either current or less than 60 days in arrears.

The bank, widening its assistance to clients impacted by the COVID-19 pandemic, announced that credit card holders taking advantage of this offer will see the minimum payment on their statements set to zero.

“Our credit card holders are a key segment of our business, with many of them having additional products and services with us. We felt it essential at this time that we offer them as much of a financial cushion as possible to see them through this crisis,” said Mark St Hill, CIBC FirstCaribbean’s managing director, retail and business banking.

We know that persons are spending more time watching TV, and we wanted to take this opportunity to provide them with even more great TV shows, news and movies. It’s just another reminder that we are all in this together.”

Customers who wish to reconnect their services are encouraged to WhatsApp 801-0553/54 and provide the name on the account and account number.

He added that, in addition to the payment waiver, card holders will not have to pay late fees or over the limit fees during the three-month waiver period.

Mr St Hill said clients who can afford to make their monthly repayments could continue doing so if they chose.

CIBC FirstCaribbean added that the offer is not available to clients whose cards are more than 60 days in arrears when the threemonth waiver period begins today. It comes to an end on June 30, 2020.

THE TRIBUNE

Wednesday, March 25, 2020, PAGE 3

DPM: BAHAMAS FACES ‘DEEP, STARK’ RECESSION

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE deputy prime minister yesterday warned The Bahamas faces a “very deep and stark recession”, and urged it to brace for “major problems” if the COVID-19 crisis continues beyond summer.

K Peter Turnquest, speaking ahead of yesterday’s Cabinet meeting, indicated the government’s initial estimate of a $1bn economic blow for the four months to end-June 2020 may now be an under-estimate given the near-total tourism industry shutdown.

That projection, which was based on the loss of

K PETER TURNQUEST all cruise ship passengers and 80 percent of stopover tourists, will likely need adjusting given that most of The Bahamas’ hotel industry has shutdown as a result of also losing 100 percent of the latter segment.

Mr Turnquest acknowledged that the likely

Drivers ‘must see bigger picture’ on jitney closure

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A UNION leader yesterday said jitney drivers must “see the bigger picture” and stop complaining over the industry’s COVID19 enforced shutdown.

Rudolph Taylor, the Bahamas Unified Bus Drivers Union’s (BUDU) president, told Tribune Business that members had “a good discussion last week” with Renward Wells, minister of transport and local government, and accepted the public transportation closure was vital to protecting lives and health.

“I can’t speak on behalf of the bus drivers in terms of why they are complaining, but I know nobody should be complaining because, at the end of the day, they are looking at, I guess, their finances, but in every part of the world, everybody who sees what’s going on with this COVID-19 is doing what needs to be done in order to avoid the spread,” Mr Taylor said.

“So they can complain, and that’s their freedom to complain, but at the end of the day the government runs the bussing system, so to speak, and if it is their choice to do such, who am I to say they shouldn’t do it?

“It’s not my place. They are looking out for the best interest of the country at large, and I was told it [COVID-19] was taking over the world, so I have no problem with it, and those who are complaining should stop complaining and take it for what it is, and see the importance of what is being done.”

As for when jitney services will likely resume, Mr Taylor said: “We can’t say right off-hand, but we will know by March 31 whether the government is going to lift the ban or extend it. But it is up to the government at this time because we can’t dictate to the government.

The government has the last sa,y so to speak.”

Mr Taylor said it was only the BUDU, its members and union heads who met with Mr Wells last week. “Some persons are not seeing the bigger picture of this pandemic,” he reiterated. “Like he said, that’s why we ended up with the 24-hour curfew, because some persons are taking it very lightly and some persons are very selfish.

“They don’t think of the consequences for others once they can make the money, so to hell with everybody else. That’s how some of them feel. I told them if they want to disobey the orders, it’s on them and they can feel free to go ahead, but just know that there are consequences for your actions.”

Harrison Moxey, the United Public Transportation Company’s (UPTC) president, yesterday also backed the public transportation shut down as “necessary”. He added: “He [Mr Wells] spoke with the bus drivers union. He came to the agreement with them, but we are in support of that because of the virus threat.

“He did speak to me when he was saying that, so I did understand it and what it means. You know, the busses are in a very unique situation. People boarding busses very close, the driver is at risk and other passengers

are at risk. I wasn’t in that meeting with him for two hours with the BUDU. I represent franchise holders and operators.”

Mr Wells, speaking ahead of yesterday’s Cabinet meeting, said: “We did have a discussion with the union of bus drivers; a two-hour discussion with them on Friday morning. Remember we have an objective here, as an administration and as a government. Our first and primary focus and responsibility is the protection of the life of the Bahamian people.

“So we took the decision that in order to try and flatten out the curve, and in order to be able to ensure that we have a level of control over what obviously the world is grappling with right now, public transportation had to be shut down.”

Mr Wells added: “We know that Bahamians are extremely industrious. The Bahamian people are brilliant. We are the most bold, beautiful, brilliant people on the planet. We have family members and those who would have taken the public transportation system normally, and they would be able to get assistance from family members and others who would be able to drive them to the requisite places that they would need to go.

“Remember now, the government only have so many places that we had agreed to allow the Bahamian people to access, so within the confines of that we decided to make sure public transportation system as well was shut down to be able to control the spread of COVID-19.”

economic loss, which was initially pegged at $832m in tourism spending and around $147m in combined government revenues/ spending, will “unfortunately go higher” due to the severity of the resort industry’s closures/lay-offs.

“I think that is a very much a possibility,” he said, when asked if the Bahamian economy was likely to suffer a major contraction. “The fact is that we are probably in recession, and this is not just a gentle recession, but this looks like this is going to be a very deep and very stark recession.

“Hopefully we can get this virus under control before the July-August

timeframe so that we have an opportunity to catch ourselves before the third quarter. I think if we run into the third quarter with things the way they are we are going to have some very significant problems not only locally, but globally.”

Mr Turnquest added: “Obviously these are going to be very difficult times for us. Our worstcase scenario up to this point has showed us up to a $1bn in losses to the economy. With the shut down now we certainly have to go back and re-evaluate, and I expect that it would go higher, unfortunately.

“I think this is going to be a long-term problem for us, certainly well into the New

Year, but we will address whatever the challenges are in the new budget that will be passed in June.”

Voicing optimism that the government has enough fiscal “headroom” to carry The Bahamas through to the end of the 2019-2020 budget year, which ends on June 30, Mr Turnquest said: “Unless things dramatically change, and they can, we should be able to get to the next budget cycle where we will mop up and address whatever the longer term challenges may be.”

Revealing that the COVID-19 pandemic’s fallout was “very stressful” for the Ministry of Finance, he added: “The challenges

that Dorian brought did not go away as a result of this hurricane, nor did the threat for a new hurricane during this next season that is a couple of months away.

“So we have serious challenges ahead of us trying to mop up whatever restoration efforts need to be done to make sure structures are sound, and people have shelter for the upcoming season and, by the same token, finance that as well as address this shut down and what that means to the revenue loss as well as what it means to the businesses that are going to find it very challenging during this particular period and throughout the rest of the year.”

Central Bank: ‘Tolerant treatment’ for bad loans

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Central Bank yesterday said it will exercise “tolerant regulatory treatment” during the COVID-19 crisis by not treating support provided to distressed borrowers as arrears or restructured loans.

The move, announced by the regulator in a statement, will likely keep a lid on the Bahamian commercial banking industry’s non-performing loan levels amid expectations that they could explode due to the mass unemployment sparked by the pandemic Disclosing the results of discussions with its licensees on how best to handle the coronavirus fall-out, the Central Bank said commercial banks had agreed not to use unemployment benefit and other relief payments - deposited into a customer’s bank account - as a means to satisfy loan obligations.

And it reminded Bahamian commercial and individual borrowers that they should only take advantage of loan deferral offers if there were no other options available, as the interest due to the lender will continue to accrue and become payable once the crisis has passed.

The Central Bank added that it had agreed with the commercial banks, and

credit union sector, for all private sector lenders to provide a three-month deferral against repayments on credit facilities for businesses and households negatively impacted by the COVID-19 pandemic.

Many institutions, such as Royal Bank of Canada, Scotiabank (Bahamas), CIBC FirstCaribbean and Commonwealth Bank, had already announced their intention to offer such repayment holidays prior to the Central Bank’s intervention. Several had even indicated their willingness to offer six-month deferrals.

The regulator, meanwhile, said the three-month deferral will be assessed in June 2020 to determine if any changes are warranted.

“Forbearance will be provided for borrowers who maintained their accounts in good standing before the onset of the

pandemic,” the Central Bank added, setting out the terms agreed between both sides. “Further, it is on the condition that such payments will resume, with accrued interest, when the financial circumstances of such borrowers recover.

“Some financial institutions have already announced credit support that could extend beyond three months. Although, the administrative approach to implementing these and other accommodation will vary across lending institutions, the Central Bank will extend tolerant regulatory treatment to exclude these credit balances from being classified as arrears or restructured loans.”

While that will benefit Bahamian commercial bank balance sheets and income statements, the Central Bank sought to strike a balance with protecting hard-pressed borrowers.

“Social assistance and relief payments deposited into bank accounts will remain available to satisfy the assistance needs of borrowers, and not to defray to debt service obligations,” it added.

“Borrowers should be advised that since any credit on which repayment has been postponed will continue to accrue interest, they should only take advantage of payment deferrals when other options or adjustments do not exist.

“Borrowers who can afford to do so are encouraged to continue making loan payments, rather than see their loans increase through accrued interest. In all instances, borrowers are urged to inform their lending institutions of hardships they may be experiencing from loss or reduction in cash flows, income or employment.”

PAGE 4, Wednesday, March 25, 2020

THE TRIBUNE

Port’s 50% tariff slash ‘for masses, not few’ FROM PAGE ONE Apart from cutting all rates and fees for 30 days with effect from this Monday gone, APD also announced that April’s rent/lease payments will be waived for all tenants at its Gladstone Road break-bulk Freight Terminal.

And it is increasing by 140 percent the time that full container load (FCL) containers and vehicles can remain on APD’s Arawak Cay premises

without incurring storage charges. This “free” period was also extended from ten days to 24 days with effect from Monday for 30 days, and will apply to goods that arrive from that day on.

Mr Bethell, in a letter to the shipping carriers and licensees serving APD’s Nassau Container Port, said: “APD Ltd is committed to assisting the Bahamian public and the commercial shipping companies during this time where the COVID-19 virus has

created uncertain conditions for the country at large.

“The expectation is that the reduction in tariff rates are passed on to the importers and, ideally, consumers.”

The APD chief told Tribune Business that the concessions were designed to impact all Bahamians and residents who, as the economy grinds to a halt due to the tourism industry shutdown, face increasing hardship as a result of mass unemployment and

reduced incomes.

“That’s APD’s way of trying to make some contribution that ought to reach the masses rather than the select few,” Mr Bethell said of the tariff rate cuts. “By going down on the rates by 50 percent for 30 days, the expectation is those savings will trickle down in some way to the importers and consumer.

“Other than making a contribution to the government, we feel it will be best to lower our rates where they will have a larger impact and where that converts into savings in the food stores or on some other product. Our savings will be on imported cargo brought into the country rather than on any service.

“That was the thought process behind coming out with some savings in this manner.

Given that we import 95 percent of what we consume, we thought this would have the best impact in terms of contributing to our country at this most difficult time as the economy comes to a standstill.”

APD’s concessions were yesterday hailed by the Bahamian private sector as “a big gift” to consumers that should result in lower prices at a time when many workers, in particular those in the resort and tourism industries, are facing the prospect of no or reduced income.

“They’re giving the consumer a break,” Rupert Roberts, Super Value’s president, told Tribune Business.

“In times like this anything that helps the cost of living is good. That’s a big gift from APD to reduce port fees by 50 percent.”

Jeffrey Beckles, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, added: “In a word, huge. It’s a great sacrifice and is an exceptional gesture that shows how the private sector is working together.

“It gives some breathing room, and allows those

entities importing vehicles to have them stored at a more secured facility rather than face the risk of putting them on their site and have someone steal them.”

The extent to which such savings are felt by Bahamians depends on whether the port fee reductions are passed on at all stages of the supply chain - either fully, partially or not at all.

This requires the cargo shipping companies serving the Nassau Container Port, chiefly Tropical Shipping and Mediterranean Shipping Company (MSC), to reflect the cost reductions in the bills of lading (freight costs) they present to Bahamian importers, wholesalers and retailers. These entities must then pass the savings down the supply chain until they reach consumers.

“Given the extraordinary state we find ourselves in globally, and as a nation, we felt we needed to do something,” Mr Bethell explained.

“This ensures we benefit many, many Bahamians through this effort rather than a select few.

“We hope that [port tariff cuts] flow through the carriers, and then through the wholesalers and retailers, so that the general public will be able to see some sort of price reduction at the counter. That’s where it’s needed most; on the grocery items and food products.”

APD typically charges the shipping companies and importers multiple fees, including charges associated with landing, cargo handling, stevedoring, storage, security and gate fees, so such wide-ranging and deep relief should produce benefits for all consumers.

Turning to the storage fee relief provided to vehicle importers, in particular, Mr Bethell said this would alleviate the dilemma of being unable to insure, license and inspect vehicles so they could legally get on the roads amid the COVID-19 shutdown.

“Rather than having large

FROM PAGE ONE

Bahamian airlines may seek COVID crisis assistance

Bethel QC, the attorney general, yesterday said the government’s medical officials were recommending this be extended for a further 30 days, although

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52WK LOW 3.35 20.91 5.50 5.38 1.96 0.67 2.00 10.21 5.60 3.79 6.01 2.53 1.80 8.00 6.46 13.60 6.98 3.14 13.85

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

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

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

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CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

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LAST CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.70 11.26 6.00 4.15 6.01 2.73 4.90 7.16 8.15 14.00 8.97 4.24 15.21

CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.70 11.26 6.00 3.84 6.01 2.88 4.90 7.75 8.15 14.00 8.97 4.24 15.21

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1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

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VOLUME

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

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

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.2 15.6 13.4 20.9 42.9 28.2 10.5 12.0 11.2 17.2 9.6 20.9 24.1

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.67% 3.13% 0.00% 15.07% 1.22% 4.23% 2.94% 3.86% 2.23% 2.83% 4.01% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 0.37% 3.81% 0.24% 4.38% 0.23% 2.75% 5.76% 5.76% 12.81% 12.81% 0.58% 4.04% -1.09% 5.26% 0.22% 4.45% 2.29% 9.61% 11.57% 11.57% 18.35% 18.35% 5.17% 5.17% 15.86% 15.86% 5.67% 5.67% 3.40% 3.40% N/A N/A 10.80% 2.60% 10.40% -4.00%

NAV Date 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019

MUTUAL FUNDS 52WK HI 2.30 4.38 2.09 195.13 166.73 1.67 1.83 1.76 1.23 8.34 10.26 6.94 12.01 12.35 10.74 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.67 1.83 1.76 1.23 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 2.30 4.38 2.09 195.13 166.73 1.67 1.83 1.76 1.23 8.34 10.23 6.94 12.01 12.35 10.73 N/A 8.98 11.40

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

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

a 14-day period is also an option.

The association chief, though, said the sector’s efforts were also focused on locating The Bahamas’ few remaining international guests - chiefly those staying in Family Island boutique hotels and vacation rental accommodation - and ensuring they returned home before the US and other nations completely closed their borders.

“The emphasis right now is simply meeting then obligation to assist those international guests to get out of the country,” Mr Hamilton said. “We’ve been making phone calls trying to rally them as they are on vacation and haven’t heeded the call of their president [Donald Trump] to return home.

“We’re still scrambling trying to get them out of the country, particularly in the Family Islands, and get them to Nassau and move them on from there.” Prior to the government’s latest emergency measures, Mr Hamilton revealed that the domestic aviation industry had faced “rapid fire” cancellations - especially from international travellers the likes of which it had never seen before.

To advertise in The Tribune, contact 502-2394

amounts of people here, which is difficult to manage and adhere to social distancing protocols we need to comply with, we felt it best to suspend the release of vehicles at this time,” the APD chief told Tribune Business.

“We increased the storage duration so that it would not be a financial burden to importers.”

Mr Bethell acknowledged that APD and its shareholders, who include the government and shipping industry with 40 percent equity interests each, would take a financial hit as a result of the measures unveiled. He did not comment on whether they would throw the port operator off the guaranteed ten percent internal rate of return (IRR) target it is supposed to maintain annually.

Asked whether APD would consider extending the fee cuts and other concessions, Mr Bethell said this would be assessed “on a case-by-case basis depending on what lies ahead” and the impact to its financials.

He added that the company had sought to look beyond the government’s immediate 11-day national lockdown and “pushed it out” for a 30-day period that will last through April 22.

Describing the port operator as “the gateway to The Bahamas for goods”, he added APD had asked as many persons as possible to work remotely from home in accordance with the Government’s latest COVID-19 emergency powers Order until the crisis had eased.

However, given its status as an “essential service” that is to remain open, Mr Bethell said the likes of crane operators, security personnel and gate handlers were still working on-site - albeit in reduced numbers.

While this “will not compromise safety”, Mr Bethell added that “there may be elements of efficiency that we have to sacrifice” in turning around cargo vessels as a result of the smaller workforce.

“Successive adjustments have been made as a means of keeping on top of this,” he added. “Operational adjustments specifically.

It’s a matter of weathering right now. With the rate of cancellations we’re feeling the impact.”

Mr Hamilton had warned that some routes to the less populated Family Islands were in danger of being suspended before the government announced its further shut down, adding: “That’s a real possibility.

We’re hoping the impact will not be as severe, but traffic drives demand.”

Suggesting that the COVID-19 pandemic had again highlighted the domestic aviation sector’s worth, Mr Hamilton added: “We’ve been advocating for a valuation exercise to be done to determine the contribution the sector makes to GDP and the contribution it makes to tourism.

“We’ve posed the question and not got a substantial answer. We thought the data would be there with the Central Bank but we came up short. That exercise would help to inform the policymakers as to the contribution aviation makes to the country, and it has the potential to make an even greater contribution.

“Having appreciation for the sector would help policymakers so that we can get better yields from the domestic sector. We recognise how critical the aviation sector is to the overall well-being of the country.”

NOTICE

NOTICE is hereby given that GARTH ROY STEWART of Crossing Rocks, Abaco, 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 18th day of March, 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Wednesday, March 25, 2020, PAGE 5

AG: We can get ‘strict’ on banks FROM PAGE ONE

instinct is the survival instinct. Let us fall back to our gut instincts in this matter. This is not a matter to take lightly.”

Banks remain on the list of businesses that are considered an “essential” service, and thus are exempted - at least for the moment - from the nationwide lockdown that the entire Bahamas has been placed under as efforts to combat the coronavirus ramp up.

However, individual banks have been seeking to limit their exposure even though they have been allowed to open from 9am to 5pm.

Royal Bank of Canada

(RBC), for example, yesterday revealed that its main Bay Street and Mackey Street branches will close as of today, while Bank of The Bahamas is restricting its opening hours to between 9.30am and 1pm.

Dr Duane Sands, minister for health, declined to comment on the likelihood that the government will ask the banks to close their branches, saying: “I think you are asking me something that is not in the purview of health.

“Health will make health suggestions. They will be considered by the Cabinet, and they will be considered by the Task Force and, ultimately, by the prime minister,

Marinas lose ‘through roof’ bookings to virus FROM PAGE ONE

CARL BETHEL QC and a determination will be made. Obviously nothing that we do is going to not have consequences.”

The House of Assembly is scheduled to meet this coming Monday to debate the need to extend the existing the emergency orders beyond March 31. Mr Bethel said: “I can let Bahamians know that we are in close

consultation with the opposition, and they agree that we should follow the medical advice of the medical professionals.

“At the meeting we held with them a few days ago the strong advice of the medical practitioners who are leading this fight was that we must extend the curfew for at least another 30 days.”

Private sector ‘compiles’ concerns over lockdown FROM PAGE ONE “We’re in the process of compiling our list of concerns, and are in constant dialogue with the government,” she said, after this newspaper was informed of growing disquiet in the business community about the lockdown’s duration. “There are not overwhelming concerns. There are some concerns we are compiling.

“The business community understands that these measures are being enacted to ensure the health, safety and well-being of all Bahamians and residents while the government is actually seeking to contain the spread of COVID-19. We continue to use our seat on the National Co-Ordination Committee to communicate any recommendations or unintended consequences of these measures.”

Mrs Rutherford-Ferguson added that the private sector was also “in the process

of compiling” suggestions to the government on which additional sectors should be considered as “essential” and allowed to continue operating within the requirements of social distancing protocols.

“We appreciate the advice of the medical practitioners,” she added. “I’m sure the government will make adjustments to the recommendations where necessary. The approach thus far has been one of collaboration, and on that premise we continue to have the ability to voice any matter that should be addressed or considered.

The government has had an open ear with regard to our recommendations.”

The chamber chair revealed that the private sector was now eagerly awaiting the “second phase” of the government’s stimulus measures to prop up a battered economy still reeling from the virtual complete shutdown of a tourism

industry that provides 40 percent of economic output and almost 50 percent of total employment.

“The business community is looking forward to phase two of the fiscal measures that will be taken to assist businesses,” Mrs Rutherford-Ferguson added. “He [the deputy prime minister] acknowledged that was phase one, and there will likely be additional measures implemented. We are looking forward to what those additional measures will be.”

She described the likes of the $20m small business loan support initiative, and $10m allocated to unemployment benefit for self-employed and temporarily laid-off workers, as just the start of the government’s efforts to prevent a Bahamian economic collapse.

“That is a bridge,” she explained of the steps announced thus far by K Peter Turnquest. “It will bridge that gap between

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the losses of businesses and the losses of their employees. For that reason it is definitely a step in the right direction. We just encourage the government to look at utilising all its fiscal levers.

“The fiscal measures announced will assist in bridging the gap between maintaining minimum levels of cash flow and maintaining payrolls for as long as possible notwithstanding the loss in revenues. The business community recognises that critical to weathering these challenging times is the ability to manage its costs and provide support to its employees.”

everything else, this was probably going to be the best season ever,” the ABM president told Tribune Business.

“2019 was good, especially the end of it, from a tourism perspective, but once we got the message out.... This is the peak season. This was developing. At the beginning of March bookings were through the roof. People were booking slips, charters.

Many charters were saying The Bahamas is the hottest place to go.

“We had incredible reservations, and hope with the recent Charter Show of sending people here. I guess it’s not going to happen now,” Mr Maury continued.

“It’s hard to say. We don’t know how deep this is going to affect the economy and how long it’s going to go.

“Last year was a good year for the marinas, and 2020, with all the hard work the Ministry of Tourism did and everyone getting the message out, you thought 2019 was good but this year was going to be incredible. Every marina had bookings, and right now they’re all calling and asking what to do.”

Mr Maury said that, Abaco and Grand Bahama excepted, the Bahamian marina industry had largely escaped unscathed from Hurricane Dorian’s wrath as the category five storm had struck at the beginning of the sector’s traditionally slower season which starts in September.

Now, describing the COVID-19 fall-out as “kind of freaky”, Mr Maury disclosed that none of his business interests have been spared.

“Margaritaville, Green Parrot, the marina.

Everything is basically shut down. Everything. Two hundred employees. It breaks

my heart.

“As of right now, we’re paying vacation and time owed. For a lot of people that will give them two weeks, and after that we’ve got to look at what we can do.”

Mr Maury said the Ministry of Tourism and Port Department had been helpful in responding to queries about what to in situations where yacht owners wanted to fly in to The Bahamas to ensure their vessels were provisioned and looked after.

“I’ve got boats that are in transition, or yachts that are anchored off, and we’re trying to give them provisions and help them with fuel,” he added. “They’re going back out to sea because there’s nowhere else to go.”

Mr Maury also suggested it would take some time for the global travel and tourism industry, especially the cruise ship sector, to recover once the COVID-19 crisis had passed. He added that a “whole psyche” relating to consumer confidence had been impacted.

Basil Smith, the Association’s executive director, agreed that the marina industry had “come to a standstill” after both this nation and its major Florida source market were closed to boating and yachting traffic.

He argued, though, that the combination of The Bahamas’ location, loyal boating following, multiple island offering and proximity to the US meant it was wellpositioned to “be first on the scene” when the market eventually recovered.

Describing the recent yacht charter show as “beyond expectations”, Mr Smith confirmed that the charter broker market was something The Bahamas had been “looking at jealously” and “targeting for some time”.

O L U A P O A JUDGE PARKERS R E J E I W

J U Y M U M B A I G S T K B

Q S X T M E X I C O C I T Y

M S E R I A S O N E U B O G

R P G U T C C W T D E O T U

Y A M O J A K A R T A D P A

G I K M O O G R T A I K S N

F Y E Z L D B O O S A K A G

O O Q K E E L D H Y J G S Z

P G A L I E W A A K W X K H

L T H J R Z N H W P F E Z O

A I I H D G S E O U L P N U

V N N Z H A W K A R A C H I

G A K A H D C W O R I A C B

agent

Set free

film musical

PAGE 6, Wednesday, MMarch K Z25,S2020 E L E G N A S O L R J

Skulls

J U I A M O S C O W J U E S

Plead

Men's hair cutter

Distinction

Floor covering

Bring up

Captured

arrow-word

Black squares: 3, 4, 6, 9, 12, 15, 18, 21, 22, 26, 31, 35, 36, 39. across: Child, Prodigy, Gnu, Arable, Plus, Thumb, Adamantly, Stockpile, Quite, Sloe, Azalea, Fix, Jukebox, Evils. down: Thesis, Hunch, Lieu, Undo, Cleave, Drawback, Plasma, Influx, Adequate, Deepen, Taxi, Guru, Twirl, Stymie.

across: Feudal, Nape, Quip, Spas, Sphere, Ere, Kohl, Add, Moa, Cavalli, Became, Ill, Rule, Any, Lint, Mel B, Atone, Canon, Eleanor, Sat, Ewer, Tied, Swoon, Airs, Aunt, Stop, Arts, Spews. down (left to right): Dyer, Eels, War, Punished, Cull, Eat out, Dapper, Calibrations, Yap, Are, Amen, ENT, Lease, Eve, Taco, Tare, Asp, Tomlinson, White, Holly, Node, Row, Flail, Pen, Rasps.

Shaded letters: Peaky Blinders

Vegan (clue), Rhyme, Sandal, Bustle, Amoeba, Lawful, Shorn, Ample, Crucial, Sulphate, Zeta. down: Kohlrabi, Jams, Nappy, Scalpel, Reveal, Fresh, Insist, Elicit, Coven, Mosque, Luggage, Oxide, Rend, Magnolia.

wordS Equip

Nicholas Hilliard, Francis Danby, Samuel Palmer.

across: 1 Baker, 6 Fern, 8 Estensen, 10 Bruce, 11 Leona, 12 Atwell, 15 Road, 16 Vienna, 17 Ruth, 19 Rickitt, 21 Simm, 22 Steel. down: 2 Anne, 3 Repair, 4 Anna, 5 Endeavour, 6 Fortune, 7 Nye, 9 Tarrant, 13 Love, 14 The Voice, 17 Ross, 18 Hamm, 20 Cat. tV show: Cold Call

Difficult

Country

CARPE DIEM

Vista

Glide on snow

Harden

One time

End Break free

Hands out cards

Book sections Line drawing

Gut

Arid

Manner of speech

That woman

Flank

US state

Cut-off trousers

Farm herd

Episodes

Book of Daily Express Friday, December Cereal 27, grains2019 the Bible

Puzzles

MARVIN

clock-wiSE Ecru, Rude, Dear, Arlo, Loop, OPEC

QuiZ of thE wEEk 1 Eleven 2 East Sussex 3 Marriott 4 Deep 5 1980s 6 Little Mix 7 Matt Smith 8 Funkytown 9 London Irish.

10 Tilbury.

Vegetable

Cry

Richard E _, pictured

Textile

Pair

Go in

CRUSADER PRIZE CROSSWORD Verses

Performer

Rent

acrOss 1 Smelly garment for athlete (4,6) 6 Bullet for a garden pest (4) 10 Excellent thrashing (7) 11 Endlessly choose donkey before old artist (7) 12 Drunk, king and fool get bound together (9) 13 From Scandinavia, and Sudoku EaSy MENtathloN aNSwEr not the London area (5) 14 Remove top of porridge Syrup to be economical (5) ditloidS 15 No particular instant, but very soon (3,6) 259 Steps Up to the Whispering getting Gallery, 12 Bells in the Northwest 17 Exhausted, member one flavouring (9) Tower, 4 in the Southwest, 1 Statue20 Trade initially gets poor of the Duke of Wellington’s Horse, return for unit (5) 1 Sermon Preached by Martin 21 Met to compose a song (5) Luther King, 1 Bomb Planted by 23 Smart, missing last bit to the Suffragettes, come down to US city (9) 25 Firm with myself after triVia wordSEarch unacceptable result (7) BattlEShipS 26 Surrounding far-away 1 Slade 2 Sylvia Syms 3 Claude dynasty (7) Debussy 4 Lillehammer 5 David 27 Student trio takes turn in Jason 6 Dopey 7 Avril Lavigne quiet period (4) 8 Rounds 9 Chasing Cars 28 Cleric ran, coached 10 George Clooney terribly (10)

HAGAR THE HORRIBLE

SuMthiNg

MuddlESoME

tV croSSword CALVIN & HOBBES

Fewest

D

thE alphaBEatEr

across: King, Circular, Hapless,

Change

Hot drink

In the past

4

BEIJING ● BUENOS AIRES ● CAIRO ● DELHI DHAKA ● GUANGZHOU ● JAKARTA KARACHI ● KOLKATA ● LOS ANGELES MANILA ● MEXICO CITY ● MOSCOW MUMBAI ● NEW YORK CITY ● OSAKA SAO PAULO ● SEOUL ● SHANGHAI ● TOKYO

thE alphapuZZlE

For Flavour

Dined

Friday’s solutions TIGER

Obtain Smack Deleted

Find all the cities listed below in the grid.

Solution tomorrow

BLONDIE

THE TRIBUNE

Gallant

Suddenly

1 DOWN 1 Costume custom (5) Nineties 2 Explosive pop setgroup on island – get in trouble (9) 10 3 Medical procedure on knee is not undertaken alone (5,9) 4 Game played with new volunteers in the shade (7) 12 5 Understanding space – Sudoku MEdiuM Sudoku route unknown (7) 7 Defeated contestant 14 exchanges roles (5) 8 Bird training pets to march (5-4) 9 Unnecessary addition for 17 a patissier? (5,2,3,4) 14 Earth contains energy and identical ingredient (6,3) 16 He’s self-centred and mad 21 – come again? (9) 18 Incorporated dramatic king, now decrypted (2,5) 19 Couple not finished with kakuro kEijo 25 pixie – temperature hot, in part (7) 22 Whole time alto was 4 2 8performing 1 (5) 1 7 27 24 9Enjoy, 2 1at home, 1 2to8start 5eating 3 4(3,2) 1 2 9 2 2 1

2 4

6x4=24, 3x5=15, 9+9=18

SMall croSSword across: 1 Ferocious, 7 Oxen, 8 India, 10 Yen, 11 Canopy, 13 Elevenses, 14 Urgent, 16 Eco, 18 Equal, 19 Fair, 20 Despotism. down: 1 Force-feed, 2 Exhale, 3 On to, 4 Ink, 5 Odyssey, 6 Sandstorm, 8 Imperil, 9 Onerous, 12 Tennis, 15 Gift, 17 Cap.

2

15

18

22

4

3

4

difficult

7 2 1

1 4 3 1 9 3 7 4 2 8 1 3 8 1 9 3 2 1 9 2 4 2

3

23

3

1

4

3

1

2

28

1 3 2 4 THE ALPHABEATER

TARGET

EAt tHE rBA

● The cAn you crack the Alphabeater? Each grid Quick croSSwordTarget targEt number represents a letter – or black square. uses across: 1 Physiologist; 7 Skein; 8 Lunar; political capo ciao cilia As in Alphapuzzle,call every letter of the alphabet words in 9 One; 10 Pettiness; 11 Dilate;the12main Valour; is used. clap But clipyou clop coal coalpit haveclot to complete the grid too!

15 Recollect; 17 Nip; 18 Train;body 19 of Eager; usecoat coati coil coital cola colt the given letters and black squares below Chambers lilac octal optic 21 Intermission. theitalic grid tolicit start. thelocal grid isloci ‘rotationally optical pica picot politic down: 1 Preponderate; 2 Ire;21st 3 Length; Century symmetrical’otic – in pact other words, it looks the POLITICAL taco talc topic topical 4 Gallivant; 5 Since; 6 Proscription; Dictionary same if you turn the page upside down.

7 Steal; 10 Petulance; 13 Owner; (1999 Solution on Monday edition) 14 Redeem; 16 Chain; 20 Gas.

croSS douBt across: ABHOR down: ROUND

Extr

090

(Deduc each ex

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090

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A 34 38 23 34 20 20 14 30 38 35 B C 40 12 8 21 22 1 19 10 37 4 D E 1 16 21 34 31 29 13 25 10 13 F G 21 18 27 3 36 38 29 35 18 7 H I 8 26 37 22 21 13 32 35 37 9 TODAY’S TARGET J Good 18; very good 27; excellent 36 K 27 8 25 38 28 34 20 18 37 2 (or more). Solution on Monday L M 34 12 34 35 6 16 22 11 15 19 call 0907 181 2585 N for today’s target solution 22 35 in 21 5the task 11 3 33 crossword, 36 as 1a number 3 Best Odescribed Kakuro *Calls cost 80p per minute plus your telephone is to P fill all of the empty squares, using numbers 1 to 9, so company’s network access charge.

Q 39of each 4 25to its 3 34 5 22 equals 39 block 1 37 horizontal the sum the number R the sum of each vertical block equals the number left, and on itsStop. in the19 same 10 2 more 23block 18 be1used18 34 may 14 No9number than Tonce. The difficulty level of the Conceptis Kakuro increases U 17from 12 24 33 30 23 11 10Sunday.

21 to 13Monday FIND where the fleet of ships shown is hidden V in the grid. The numbers to the right of and W 34 20 14 31 29 22 10 22 19 36 below the grid indicate how many of the squares in that row are filled in with ships or XYesterday’s Yesterday’s parts of ships. The ships do not touch each 37 11 14 22 13 7 20 9 Y 23 2 other, even diagonally. Some squares have Z Sudoku Answer Kakuro Answer HOW many words of four letters or more can you make from the letters shown here? in making a word, each letter may be used once only. Each must contain the centre letter and there must be at least one nine-letter word. no plurals or verb forms ending in “s”.

DENNIS THE MENACE Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Conceptis Sudoku increases from Monday to Sunday

BATTLESHIPS

been filled in to start you off.

Solution on Monday 2

1

3

4

5

6

7

8

1

9 10 1

B

3

C

2

D

2

E

1

F

3

G

1

H

1

I

5

J

CRYPTIC PUZZLE 1 Not occupied? There’s no hurry (2,7) 8 Doctor has to die in agony, having no water left (5) 9 His suffering has no legal force (7) 10 It’s of small account to give way and agree (6) 11 He reviews one with opposing views (6) 12 Pots and pans could be her award (8) 15 Kindly feeling not hard to place (4,4) 18 Ladies make perfect models (6) 20 A rendezvous lined with trees (6) 21 Is involved with women of attractive appearance (7) 22 Cruel form of profit (5) 23 Close relations in The Guards perhaps (9)

2

3

4

5

2 Singer put right after a

9

wrong note (5) 3 Gets full satisfaction out of a religious 4 Puts chit out for re 5 Possibly deduce

16

for Braille (7) when assembled (9)

19

21 22

11 He painted pictures of the

23

country policeman (9) 13 Going back - but not to work (8) 14 The crime of a receiver? (7) 16 So accustomed to being in a pickle (6) 17 Domestic service (3,3) 19 Spirit rises after the French animal appears (5)

Yesterday’s Cryptic Solution

Yesterday’s Easy Solution

Across: 1 Picnics, 4 Strum, 7 Rare, 8 Departed, 10 Discharged, 12 Needle, 13 Affray, 15 Allocation, 18 Credited, 19 Tint, 20 Stars, 21 Oranges.

Across: 1 Cypress, 4 First,

Down: 1 Pared, 2 Caressed, 3 Steers, 4 State of war, 5 Rate, 6 Modesty, 9 Chilblains, 11 Training, 12 Notices, 14 Toledo, 16 Notes, 17 Beta.

Down: 1 Crass, 2 Paroxysm,

7 Aura, 8 Arguable, 10 Sixth sense, 12 Mosque, 13 Subtle, 15 Third Reich, 18 Fall flat, 19 Limb, 20 Label, 21 Drought.

3 Shriek, 4 Four-square, 5 Ruby, 6 Tremble, 9 Thoughtful, 11 Striking, 12 Mindful, 14 Errand, 16 Habit, 17 Glib.

Across 1 Immediately (2,3,4) 8 Major European river (5) 9 Weak-kneed softy (3-4) 10 For each one (6) 11 Vendor (6) 12 An incombustible material (8) 15 A few (3,2,3) 18 Sailcloth (6) 20 Mythical monster (6) 21 Leaves (7) 22 Unprincipled person (5) 23 Sacred writings (9)

1

3

2

1

4 x submarine

20

7 The followers stand here

2

2 x cruiser

17 18

2

3 x Destroyer

14 15

7

1

1 x Battleship

13

it’s extracted (6) 6 Generous provision

4

11 12

3

22

23

Down 2 Coolness in danger (5) 3 Walk lamely (6) 4 Deduct (8) 5 Threefold (6) 6 Presumptuous action (7) 7 The world’s oceans (5,4) 11 Of lesser importance (9) 13 A green vegetable (8) 14 Drive mad (7) 16 Greek Aegean island (6) 17 Charge with crime (6) 19 Bode (5)

4

5

6

7

8

9

10

24

25

26

27

28

29

30 31

■

M

11

12

13

14

15

1

32

33

34 35

3

■

F

● Alternatively, for six Extra Letter clues to your text DXBEAT to 84901. Texts cost £1 plus your usual

KEIJO 2 1

1 1

10

work (6) pair (6,2)

6

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THE TRIBUNE

Wednesday, March 25, 2020, PAGE 7

PAGE 8, Wednesday, March 25, 2020

THE TRIBUNE