04022020 BUSINESS

business@tribunemedia.net

THURSDAY, APRIL 2, 2020

$3.89

$3.89

$200m in deals ‘slide’ on COVID-19 impact

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

D

EALS worth a collective $200m are likely to “slide back” into 2021 due to the fall-out from the COVID19 pandemic, a prominent Bahamas-based investment banker conceded yesterday.

Michael Anderson, RoyalFidelity Merchant Bank & Trust’s president, told Tribune Business that the heavy volume of local capital markets fund-raising he had predicted just three months ago was likely to be delayed or put on hold by the economic lockdown and

• Capital raisings likely to push into 2021 • RoyalFidelity chief still eyes late-year activity • But ‘high interest’ in mutual funds remains

MICHAEL ANDERSON

resulting uncertainty.

Voicing optimism that investor confidence may recover sufficiently for some deals to be funded from the late 2020 third quarter onwards, he added that COVID-19 had likely put paid to forecasts of an active year in the Bahamian capital markets.

However, the RoyalFidelity chief said the pandemic had not deterred all activity as the Bahamian investment bank had still enjoyed “a

high level of interest” in its mutual funds during March that was on par with prior years.

He added that this had continued through to the month’s end despite the COVID-19 enforced job losses and business closures, which he interpreted as a sign investors were still seeking higher-yielding returns beyond the Bahamian commercial banking system.

SEE PAGE 4

BPL’s revenue in 32.5% March fall

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMAS Power & Light’s (BPL) March revenues have slumped by almost one-third yearover-year, a Cabinet minister revealed yesterday, as it halted disconnections for the lockdown’s duration.

Desmond Bannister, pictured, minister of works, told Tribune Business that the state-owned energy monopoly had suffered a $13m shortfall in customer payments last month compared to March 2019 as the business closures and job losses associated with the COVID19 pandemic started to bite.

Addressing yesterday’s confusion surrounding whether BPL would continue its suspension disconnection beyond

• Utility’s income slumps by $13m to $27m • Minister: Bills won’t disappear ‘by magic’ • Disconnection halt for lockdown duration

March 31, Mr Bannister said the utility needed to both make it easier for consumers to pay bills and improve its communications strategy.

BPL’s Blue Hill Road headquarters was yesterday

‘Frustration’ over govts silence on e-ecommerce plan

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A MAJOR Bahamian hardware retailer yesterday voiced “frustration” that it has not been permitted to serve clients via an e-commerce platform it invested “tens of thousands of dollars” in developing.

Brent Burrows, CBS Bahamas (Commonwealth Building Supplies) e-commerce manager, urged the government to “embrace” such technology as the solution to continuing some economic activity during the COVID-19 pandemic while still respecting the necessary health protocols.

Explaining that CBS Bahamas had developed a fully integrated online shopping and payment solution, he told Tribune Business that purchases and orders can be fulfilled and delivered without staff and drivers having any contact with each other or the end-customer.

Mr Burrows said the retailer had been “overwhelmed” with inquiries for electrical, plumbing, cleaning and other household goods from both contractors and the general public, but had not been able to gain a response either way from the government to its

SEE PAGE 5

Doctors chief hails ‘wide decision’ on non-urgent care

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Medical Association of The Bahamas (MAB) president yesterday hailed the government’s “wise decision” to prevent doctors seeing patients face-to-face for non-emergency care.

Dr Marcus Cooper, responding to the government’s latest Emergency Powers Order, told Tribune Business: “What the order is saying is that physicians should not be practicing as usual, and face consultations should be reserved for emergencies and not non-urgent

and routine visits, with the exception of antenatal care and pediatrics where they are giving vaccines.”

The order, which effectively pushes doctors to tele-medicine and online contacts with non-emergency patients, requiresthat all private medical and dental practices “shall eliminate all routine and non-emergency physical encounters with patients, and shall provide as best as possible all routine and non-emergency services via remote or virtual means excluding private renal dialysis facilities.

SEE PAGE 5

besieged by customers seeking to become current with their accounts, with the lines made longer by COVID19-related social distancing.

Mr Bannister suggested that it was also an indication that some who could meet their obligations had taken advantage of the previous week-long suspension to avoid doing so.

Calling on all households and businesses to “be responsible” with their monthly electricity bill, especially those who can still afford to pay, the minister added that the government planned to deploy several “strategies”

through the Department of Social Services to help persons who have lost their jobs and incomes meet their obligations.

“Last year this time, BPL would have collected a little over $40m for March,” Mr Bannister told Tribune Business. “This year, they’ve collected $27m. The significance of that is that the government is going to have to find a way to make up some of the shortfall at BPL. “When you look at the social responsibility we have as a government, we cannot continue to let these

SEE PAGE 4

$3.93

$3.99

AG: ‘We were protecting vulnerable from calamity’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE attorney general yesterday pledged to “clarify” a life and health insurance order that was designed to prevent poor and elderly policyholders suffering a “catastrophe” amid the COVID-19 crisis.

Carl Bethel QC told Tribune Business that the government will change part of the Emergency Powers (Special Provisions) Order 2020 to make clear that the near-90 day exemption from paying due life and health insurance premiums applies only to those who cannot do so online.

He explained that the initial language, which left the Bahamian insurance industry “up in arms”, was designed to protect “the most vulnerable” policyholders on two fronts.

Besides not having to physically visit insurance company offices to make their premium payments, which could potentially expose them to the COVID19 virus and increase its spread, Mr Bethel said the first order was also intended to safeguard poor and elderly policyholders from the possibility that their coverage would lapse as a result of the non-payment.

Reiterating that the government was responding to an evolving “emergency”, with the impacts and effects changing almost daily, Mr Bethel promised the insurance industry that the government was “willing to listen” to any “counter-proposal” that better achieved its social protection objectives.

And subsequent negotiations between the the sector and the government appeared to bear fruit, with the attorney general confirming to Tribune Business: “The order will be clarified to make it clear that it only applies to persons who cannot make

CARL BETHEL QC online payments.

“All persons whose premiums before the emergency were paid by online means must continue to do so. The COVID-19 Order (No.2) 2020 permits online services to continue, and it is expected that persons who can pay online will honour their contractual obligations as and when they fall due.”

The promised alteration was greeted with relief by a life and health insurance sector that warned their “operating model” would have been forced to change had the government stuck to the original order. This, they added, would have impacted “staffing levels” - an indication that carriers would have been forced to lay-off workers and add to the jobless ranks that have already been swollen by thousands.

Sandy Morley, the Bahamas Insurance Association’s (BIA) vice-chairman, confirmed to Tribune Business that the first order would have had “widespread unintended consequences” had it remained in effect.

Revealing that talks with the government had “progressed very well”, he added that the life and health insurance industry had suspended policy terminations for those unable to pay online for the the duration of the national lockdown plus 14 days afterwards.

The initial Order, which was signed by the Prime

SEE PAGE 4

PAGE 2, Thursday, April 2, 2020

M

Y last article analysed COVID-19’s impact, and the need for effective leadership from an economic and health perspective. I now turn to an examination of the relief measures taken to date. As this article was completed, the deputy prime minister announced more assistance for Bahamian micro, small and medium-sized enterprises (MSMEs), well as a tax credit and deferral initiative targeted at medium and large-sized enterprises.

THE INITIAL RESPONSE As it became clear that the western hemisphere was in for a big hit, governments sprang into action.

COVID-19 cases in the US started to increase, with the first Caribbean infection showing up in the Dominican Republic. It was time to move. Multiple cases were discovered on cruise ships. There was evidence of infected persons having travelled on airlines.

The race was on to save the health and economic arrangements of the Caribbean, with The Bahamas and Jamaica among those taking proactive steps in a race to possibly save the very existence of the region as we know it.

THE BAHAMAS K Peter Turnquest, deputy prime minister, following consultation with industry players and his opposition counterpart, unveiled a suite of measures designed as a “phase one” response to the expected fallout from COVID-19. These included a $16m allocation to cover detection, isolation, treatment and other COVID-19 mitigation activities, plus $4m to provide food, assistance and social support for displaced workers directly impacted by the virus. There was an allocation of $10m to provide for a temporary unemployment benefit, offering assistance of $200 per week for up to eight weeks with a pledge to adjust this as needed. The government highlighted the availability of normal sick benefits for individuals who contract COVID-19, or are quarantined because of exposure or suspected exposure. Those temporarily laid off because of COVID-19’s economic impact will be eligible for unemployment benefits for up to 12 weeks.

The government also asked the Water & Sewerage Corporation to reconnect all recentlydisconnected services for residential customers, having regard to the personal hygiene implications in

THE TRIBUNE

Paying the price in battling COVID-19

BY HUBERT EDWARDS

the fight against the virus.

Banks committed to provide mitigating measures, with some eventually offering deferral of loans on a blanket basis, while others committed to doing it on a case-by-case basis. Some $20m in short-term loan support was provided to Bahamian small businesses with no repayments for the first four months.

Looking for other means of creating potential stimulus, the announcements also included acceleration of a Youth Apprenticeship Programme; reprioritisation of capital projects to increase the number of quickly deployable smallscale works to boost small business activity; an accelerated process for all domestic and foreign capital investments projects currently in the pipeline; and restriction of all nonessential expenses. To date, no monetary policy action has been taken.

JAMAICA Jamaica on the other hand, having the advantage of the COVID-9 pandemic occurring at the end of its fiscal year and budget presentation, has rolled up new and previously announced fiscal measures as part of its fight. Excerpts from Jamaican newspapers detail the following approach. The country launched the largest fiscal stimulus in its history at J$25bn ($185m).

This includes the reduction in general consumption tax (GCT) or sales tax from 16.5 percent to 15 percent, which puts J$14bn back in the hands of consumers and supports consumption. An MSME tax credit will provide critical cash-flow support, together with a dramatic reduction in regulatory fees for agricultural producers. The banking sector volunteered to forgo the reduction of the previously-announced asset tax, increasing their COVID fiscal contingency from J$7bn to J$10bn ($74m).

Additionally, through the Bank of Jamaica, the country has implemented macro-prudential measures valued at some J$57bn ($422m) to help deposittaking institutions during the crisis. Based on Jamaica’s economic strength, the central bank said it will not cut its reference interest rate at this point.

It is maintaining its overnight placements rate at 0.5 percent.

The Bank of Jamaica will continue to support foreign exchange needs, but will halt investment transactions that require the purchase of foreign exchange.

It temporarily increased the limit on the foreign currency net open positions by five percentage points. A bond-buying programme for Jamaican

government securities also began, with the central bank declaring it is prepared for early redemption of its own securities.

Taking into account financial stability, the Jamaican central bank removed the limit on the amounts deposit-taking institutions can borrow overnight without being charged a penal rate. The bank believes these measures will help to facilitate the smooth functioning of the credit market and support inflation, remaining within the inflation target of four percent to six percent over the ensuing eight quarters.

COVID-19 is a common threat, but the circumstances and responses are fundamentally different up to this point. In part, this is a function of timing.

Jamaica is at the end of its fiscal year and, on the back of a relatively successful structural readjustment programme with the IMF, has been riding the wave of 20 consecutive quarters of growth, a robust stock market and measures that have created fiscal headroom because of reductions in debt repayment. The Bahamas, on the other hand, is still a few months from its budget presentation. Generally, it has been operating under an austere regime with the implementation of fiscal reforms designed largely to correct its debt-to-GDP position and structural weaknesses observed in the management of the national finances.

It has the same intent as Jamaica; freeing resources for investment in the economy.

Both countries, though, currently suffer from low growth. The Bahamas, while securing two years of above average growth compared to the previous ten years, missed its targeted two percent-plus growth rate in 2018. The same is likely for 2019 once the numbers are finalised. Jamaica, despite its impressive multiple quarters of growth, has seen GDP expand by minimal levels. This represents one of the most significant pressure points in its effort to reorganise the economy.

Notable commentators such as Denis Chung, and Michael Lee Chin, chair of Jamaica’s Economic Development Committee, have recently lamented this fact. Despite cogent planning and marked successes, it is recognised that true economic transformation demands growth that is more robust. This is critical to our examination of the COVID-19 impact.

We have often echoed the

sentiments of Mr Lee Chin as it relates to The Bahamas. For the last few budget cycles we were of the view that greater focus should be placed on facilitative growth, leveraging the growth that was being experienced across the world but primarily in our most important market, the US. Our consistent concern was that there was a closing window of opportunity, and the drive for growth should have been better aligned to that opportunity.

Last year started to prove the efficacy of that thinking through the economic headwinds being created by Brexit and the US- China trade wars. We did not secure the growth desired, and consequently COVID-19’s economic impact is likely to prove a significant challenge, one which may have been easier to face with a stronger foundation on which to build a stimulus effort.

We are being careful not to minimise the depth of the risk faced by both countries and the wider Caribbean region. Neither is there any intention to pre-judge the efficacy of any response already announced and yet to come. This will undoubtedly be a hard road going forward and, in many ways, a very complex set of realities. Supply side shock, coupled with a demand side shock complicated by significantly disrupted value and supply chains, is the result if this global pandemic. There is no easy or cheap way out of this.

The US has passed the larger stimulus package in its history aimed at rescuing its economy, with clear signals of more to come.

The early signs, however, show that this will be a very interesting time as the fundamentals at play are significantly outside the control of a single country and rest fundamentally on the effectiveness with which the health aspect of the crisis is managed. The US, in our opinion, is currently losing that battle or at least has not yet shown that it is in control of the effort to contain the spread of the virus. This is bad news for the Caribbean, as the US represents one of its most significant tourism and export markets.

GLOBAL Long before the US and the Caribbean started to take this matter as seriously as it is now, Indonesia was taking steps to shore up its banking sector, January 30, 2020. China’s central bank was applying monetary policy in early February, as was Thailand, Singapore and other Asian countries. These came

more than a month before the US signalled its first real economic response.

Under pressure from the Trump administration, the Federal Reserve cut its reference interest rate to be followed by a further slash to a range of zero to 0.25 percent.

Over that period, the virus, was ravaging Europe, especially Italy. Meanwhile, Russia and Saudi Arabia started to cross swords on oil, further destabilising the financial markets. This event will be very costly.

To date, cursory analysis shows that fiscal and monetary responses by major countries are valued at $7tn and counting, well in excess of resources expended on the 2008 global financial crisis. This holds important implications for the Caribbean, which generally has limited financial resources.

We need the global effort to be successful to create spillovers for our benefit.

Critically, the Caribbean needs the US economy to come back strong quickly.

That observation, though, may be wishful thinking.

Unless there are fundamental changes in its approach to containing the virus, information coming out of the US will continue to create adverse pressures on global markets and economies. Economists generally agree that the crisis could persist beyond June.

This gives us a clear idea of how deep and costly this event is expected to be. Most stimulus measures have been undertaken within the last 30 days of writing.

Why is this important? The health event is unfolding and changing the outlook very rapidly. Therefore, the basis on which any projections are made must be dynamic, and pronouncements are simply indicative for the moment.

We see this in The Bahamas’ initial expectation of a $1bn loss to the economy.

A week later, the deputy prime minister declared that “The Bahamas faces a very deep and stark recession”, urging the country to brace for major problems if the crisis persists beyond the summer. Therefore, what are the outlooks on this? Does this event have legs to take us into the summer? With the Bahamas being highly dependent on tourism for upward of 50 percent of GDP, and with tourism and travel being the most significant sector impacted, timing is extremely critical. The impact on others will be no different, only potentially at a lower level. Will the region be able to afford, should this extend over the mid-term, to truly defend its various economies?

To be continued...

THE TRIBUNE

Thursday, April 2, 2020, PAGE 3

DON’T BLUR YOUR DESIGN’S QUALITY PHOTOSHOP is a great program for just about everything - from touching up photos to designing for your own Internet sensations.

However, the extensive tool selections can be daunting for novice users, as there are many buttons with each having its own subset of tools.

The “blur” tool icon looks like a rain drop, and can be found on the tool panel to the left of your Photoshop screen. By right clicking, you will be presented with the smudge tool, the sharpen tool and the blur tool icons. The latter tool is one of the most widely-used functions in Photoshop as it offers an array of capabilities.

So, what does the blur tool do? It has the flexibility to blur certain sections of a photo, such as the background, while leaving the foreground in focus. It helps to create the sense of movement in a photo when a picture is taken stationary.

You can use the blur tool to highlight an object in a photo by blurring the other objects in it. This tool is also used when retouching the skin in photos, as it helps to smooth edges and blemishes without “colouring”, thus offering a more natural approach. Blurring is also a great way to make images pop out from the rest of an image.

How to use the Blur tool The blur tool blurs your

image. First, open a picture you want to edit in Photoshop. Then click on the blur tool. Your cursor turns into a circle and acts as a paint brush. Paint over the part of the image you wish to blur, and then adjust the brush size and the hardness (how much blur you want) at the top of your screen. The cursor itself is a circle that either gets smaller or bigger by pressing the left or right bracket keys.

As with almost all of Photoshop’s tools, you can adjust the Blur tool’s brush size and brush type. You can also modify the strength and mode of the brush.

Strength determines the amount of blur the brush creates, which ranges from

zero to 100 percent, while “mode” refers to how the brush effects blend with the rest of the image.

It does this beautifully, but only up until a point.

Then it stops blurring the image. This is because, at maximum strength, each sample of the blur tool creates a Gaussian blur of only about 0.5 pixels. However, the limited strength of the tool makes it prohibitively weak on hi-resolution image masks. By default, mode is set to normal, but can be changed to darken or lighten as well as hue, saturation, colour or luminosity. When completed, choose save to store your image.

Ultimately, the blur tool

is for subtle retouching, and not effects building. If a stronger outcome is needed, consider duplicating the layer using a blur filter.

Thereafter, a layer mask to isolate where it should or should not show the effect.

Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

NB: Columnist welcomes feedback at deedee21bastian@gmail.com ABOUT COLUMNIST: Deidre M. Bastian is a professionally-trained graphic designer/ marketing coordinator and certified life coach with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such

The Art of Graphix

BY DEIDRE M BASTIAN

as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.

ONLINE DELIVERY FIRM IN 60% DEMAND RISE

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A BAHAMIAN online delivery service yesterday said it has seen a 60 percent increase in demand following the COVID-19 country-wide lockdown and closure of many businesses.

Jamial Rolle, chief executive of Runnah’s, told Tribune Business: “We have definitely seen a stark increase in business interest from both businesses and customers using the

app. Especially with the COVID-19 and people being not able to gather in groups because of safety reasons, businesses are looking for safety options.

“We have seen roughly about a 60 percent increase from sign-ups, business interest and customer use.

Our most popular feature is custom pick-up that allows for pick-ups for businesses that are not on the app.

“Our custom pick-up works like this. Let’s say, for example, if you have

a package at the Mall at Marathon, we can deliver that package to you where you are without the recipient being on the app. We are being flexible for everyone, but want people to sign up to the app to make it easier for everyone in the process.”

Mr Rolle added: “The Runnah’s app is more like a marketplace. We created the app like a marketplace, and it is a hybrid of Amazon, Uber Eats and Postmates. We don’t just

Firms urged: Remember data security while remote

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net AN INFORMATION security manager yesterday urged Bahamian businesses not to forget the importance of data and information protection while working remotely during the COVID-19 lockdown.

Demarius Cash, Seagrape Inc’s chief executive, told Tribune Business: “The COVID-19 crisis has forced organisations to rethink their product and service delivery strategy, while also creating new dynamics related to workforce management.

“In order to remain competitive, organisations are being forced to adapt rapidly while also navigating mitigation of the increased security risk associated with a remote workforce.”

He highlighted several factors that impact employees working outside the office which can pose serious security challenges for information and data protection.

Mr Cash said that, especially for those companies which are equipped with remote office capabilities, they must have adequate bandwidth to accommodate the increased demand. He also advised that persons invest in a secondary or back-up circuit to ensure reliable and consistent connectivity, and allocate bandwidth

to critical services while restricting it from nonessential Internet resources.

Mr Cash said this was critical “so persons can access VPNs (virtual private networks), and get access to the network, because they are working remotely from home”.

He added: “It is important to allocate appropriate bandwidth. If you’re trying to connect to the system, make sure you have enough bandwidth, because without enough it would slow down your work process. So, when people are working from home you want to feel like they are in the office, and not discouraged from working because the system is slow.”

Emphasising security, Mr Cash said: “Securing the environment is important because you always make sure your system has up-todate patches. Without them it leads to vulnerabilities because someone can log-in and hack into your system.

You would want to use multi-factor authentication security, so you would have two levels.

“Harden the configuration of the Internet gateway, firewall and VPN appliances, ensuring that communication is restricted based on need. Ensure operating system updates are applied, and that antivirus software is installed and updated. Update the firmware on all network hardware appliances,

and enforce multi-factor authentication (MFA).”

He added that companies needed to have proper access codes for different levels of employees.

“You need to monitor the network to see what the employees are doing,” Mr Cash added.

“Enable the logging features on your gateway appliances, for example firewalls and load balancers.

Enable logging of critical systems, services and user profiles, and have these logs forwarded to a security monitoring tool that can aid in event correlation and alerting.”

Calling on all Bahamian companies to have a proper incident response plan, Mr Cash said: “If you have a trouble ticket, or something had happened, you would want to create an incident response plan and make sure that if you have a network issue that you have your contact information for your network administrator in place.

“And, if you have a web-interface issue, make sure you have a website developer contact at hand.

Develop a plan and put in place key individuals to respond to these various threats and breakdowns in your system. Develop and activate an incident response plan. Know who to contact for what and when, and invoke and activate a business continuity plan.”

Mortgage Corp unveils 3-month loan deferral THE Bahamas Mortgage Corporation has joined other financial institutions in agreeing to offer a three-month loan payment deferral for borrowers hit by the COVID-19 economic fall-out.

The state-owned lender said forbearance will be provided for mortgage clients who were in good standing before the pandemic struck. Payments will resume, with accrued interest being applied to the principal balance at the end of this period.

It urged borrowers who have been financially impacted, and may have difficulty in meeting their

mortgage commitments to contact it at 502-1050 or via e-mail at covid-19@ bmchomes.com The Bahamas Mortgage Corporation reiterated that homeowners who can afford to continue making payments should do so rather than see their loan balance increase or maturity date extended as a result of accrued interest.

While it currently expects payments with accrued interest to resume in June 2020, it indicated that this deadline could be extended depending on how the COVID-19 crisis plays out.

deliver food. We deliver everything. Anyone who has something to sell can use our app. It is a full functional marketplace that delivers, plus we allow for marketing for business.

“We try to keep costs down, and that is why most of our advertising is done by social media and through word of mouth, because we want to keep it favourable to everybody’s pocket right now.”

Mr Rolle said Runnah’s is offering a no-fee sign up for

FOCOL TARGETS CRUISE SHIP BUNKERING MARKET FOCOL Holdings was planning to penetrate Grand Bahama’s cruise ship “bunkering” market before the COVID-19 pandemic shutdown that sector and the wider economy.

Sir Franklyn Wilson, the BISX-listed fuel supplier’s chairman, had told the company’s shareholder annual general meeting (AGM) that it was “pivoting” towards projects that will expand its range of revenue streams in Grand Bahama.

“FOCOL is particularly well balanced in terms of having considerable storage capacity adjacent to BORCO, having access to the harbour and having a pipeline going from our storage capacity to the harbour. This combination of circumstances positions the company to do more in the area of bunkering,” said Sir Franklyn.

“The cruise industry is changing very dramatically.

The fact of the matter is, as more of these cruise lines

businesses, and its purpose for creating the app was to establish an “economic ecosystem that is fair for everyone, the business, the customer and the driver”.

He added: “We have about 55 drivers on staff, and we had an additional 30 drivers sign up since the COVID-19 lock down. People are not working right now, so this is important for them to have something to do.

“Drivers receive the majority of the money; they receive 70 percent of the

delivery fee. The fee varies based on distance, and they also get tips. Delivery starts at $4.99. We have had drivers do up to 15 runs a day.”

Mr Rolle, who is stuck in Atlanta due to the worldwide COVID-19 shutdown, praised the Bahamian government for allowing delivery service applications such as Runnah’s to operate. “I see this working in Atlanta, and businesses are still making money and thriving. Some are making more money,” he added.

MEMBERS of the executive board of FOCOL Holdings. change where they do what, all of that will have implications for a company like FOCOL. So bunkering is a business that we see as being a part of our future to a greater extent than it is today.”

Since going public in 1999, FOCOL has returned $170m in cash to its investors.

Anthony Robinson, its president and chief executive, said: “Sir Franklyn Wilson, Caryl Lashley and I were given the task to take FOCOL public by 1999. We quickly settled on the theme ‘fuel growth for people’, and offered the public the opportunity to purchase shares at $5 per share.

“An investor who purchased 1,000 FOCOL shares for $5,000 in 1999, as at fiscal year-end 2019, owns 12,000 FOCOL shares, valued just under $41,000, and would have received dividends of just under $15,000. FOCOL has consistently paid quarterly dividends for 20 years without fail. This achievement clearly demonstrates that, for FOCOL, fuelling

growth for people is more than a slogan but our core business strategy.”

The BISX-listed firm has more than quadrupled its overall staff levels from 104 persons in 1999 to a team of 472 employees in 2019. “Our passion for customer service was evident after the passing of Hurricane Dorian,” Mr Robinson recalled. “Our maintenance and engineering staff were immediately deployed to Abaco.

“Temporary mobile fuelling equipment was shipped from Nassau and strategically placed to restore fuel distribution on Abaco and its cays.

As a result of our staff’s commitment, fuel distribution was restored within days of the passing of the storm. This helped to restore a sense of normalcy on the island.”

For the first two quarters of its fiscal year 2020, FOCOL enjoyed a net income of $16.3m compared to $11.5m for the same period last year.

That, though, was before the pandemic struck.

PAGE 4, Thursday, April 2, 2020

THE TRIBUNE

AG: ‘We were protecting vulnerable from calamity’ FROM PAGE ONE Minister on March 30, previously created uproar in the life and health insurance sector as it required underwriters to continue paying multi-million dollar claims without receiving any income in return something several likened to “receiving free food from Super Value” for the duration of the COVID-19 lockdown.

Several industry sources warned that the Government’s actions would destabilise a $1.9bn industry, and expose it to significant liabilities it may be unable to recover from policyholders once the economic shutdown ends.

However, Mr Bethel told Tribune Business that the nature of the COVID-19 pandemic was such that the government needed to react quickly to all eventualities, adding that the BIA and wider insurance industry had failed to “reach out” prior to the order and reveal what measures they were taking to assist policyholders suffering job and income losses as a result.

“This is an emergency.

It’s a crisis. We have to take steps to protect the country,” he said. “These are the worst of times. We could not consult with the entirety of economic interests when we ordered the shutdown of all but essential businesses.

We acted in an emergency to save lives. The business sectors engaged, and certain limited exemptions were granted.

“It’s only a deferral [of premium payments]. It’s not to deny them. At the end of the day they’re going to get it. I spoke to several insurers yesterday [Tuesday] afternoon and evening, and said: ‘Come out with your best counter-proposal’.”

Mr Bethel said The Bahamas’ situation was no different from that of the US, where persons temporarily laid-off were wondering how to meet April’s mortgage and insurance payments. And, with increasing evidence that COVID-19 is being spread by persons showing no obvious symptoms, he added that allowing Bahamians to pay premiums in-person exposed them to potential danger.

“We open the doors,” he asserted. “The people involved in across-thecounter sales and payments are the poor and elderly.

More and more is being known about how asymptomatic transmission occurs. We could not have a situation where the most vulnerable people are being forced into contact across cashier’s cages.

“If the insurance industry comes with a more reasonable counter-proposal, that’s fine. But we could not have a situation where people’s policies lapse because they cannot get into pay. We’re almost three weeks into it, and are starting to get to the point where people pay premiums at different times of the month.

“We’re running into a situation where people’s policies lapse. You think about someone paying on a home service policy for 20 years, and they’re now 80 or 90 years-old, and it lapses.

Would they re-qualify?

I’m not sure. To prevent a catastrophe, and protect the most vulnerable people in society, these are the steps we have taken,” Mr Bethel continued.

“Not to act in these circumstances would have allowed many policies of elderly and poor people to be lapsed with benefits losses to the poor. There are many elderly persons who have been paying premiums for many years who would never be able to qualify to restore a lapsed policy, thus losing all they paid over decades and losing their benefits.

“At the end of the day, we hope to have dialogue but in an emergency you have to act fast to protect life.”

That dialogue appears to have borne fruit, with the government and life and health insurance industry seemingly reaching a compromise that achieves the former’s social protection objectives without destabilising a key economic sector.

The BIA’s Mr Morley, who is also BAF Financial’s managing director, told Tribune Business that the government was expected to make the promised order changes and release them within the next day or two.

“They have committed,” he said, confirming

the industry’s information was the same as this newspaper’s. “We have been in discussion with them, both the industry and the Insurance Commission of The Bahamas, and we were happy those discussions have really progressed very well.

“The government is appreciating that the order initially issued is a bit onerous, so they are making the necessary changes. There are a number of moving parts. The implications would really have been the issue of having to absorb the cost of paying claims over the next 90 days without matching premiums.

That clearly could have caused some cash flow issues.

“During that period we would have had to pay our reinsurance partners to retain the reinsurance relationship,” Mr Morley added. “There could have been some unintended consequences. The industry would clearly have had to adjust its operating model, and staffing levels.

“The impact could have been widespread with some unintended consequences

the government did not think through. The positive thing is that they listened, they were very responsive and we’re grateful the government is operating in this manner where they’re entertaining some level of collaboration either on the front end or the back end.”

Reiterating the insurance industry’s desire to work with the government, Mr Morley said the sector had also enlightened it on what it was doing to aid “clients not faring so well” to ensure their life and health coverage does not lapse.

“Our commitment is to continue to maintain policies during the emergency order,” he added, “as a lot of people will not have the capacity to access the online platform. We’re suspending termination of policies for the period and up to 14 days after the order.

“Those corporate clients, the bigger groups, we’ll continue to engage them and look at ways to maintain cover for their staff.

They’ve been clients for a number of years, and each insurer is committed to help them through this time.”

BPL’s revenue in 32.5% March fall $200m in deals ‘slide’ on COVID-19 impact

FROM PAGE ONE

challenges go on from month-to-month. We all have to play our part in being responsible. Everyone who can pay should ensure they pay. That’s critical, and BPL should make it easier for them to pay.”

The figures unveiled by Mr Bannister show BPL’s year-over-year revenue collections are down 32.5 percent for March, which is hardly surprising given the COVID-19 pandemic’s economic fall-out. His reference to making it “easier to pay” refers to the complaints from numerous customers that upgrades to the utility’s website left them unable to log-in and pay their bills online.

Confirming that BPL has now suspended disconnections until the COVID-19 emergency is over, which will be April 8 at the earliest, Mr Bannister acknowledged: “There are some challenges we have to deal with, and we

have to deal with them head on; fairly and squarely.

“BPL has to improve their online portal so people can pay efficiently. They have to improve that, and they have to improve their communications strategy. It’s important we make it easier for people to pay their bills.

These are critical duties we have to perform.”

Mr Bannister said he had also informed BPL that it needed to align its billing cycle with customer paydays, which typically fall at the end of most months.

And he suggested that the long customer lines at BPL’s head office yesterday indicated that the now-suspended disconnection restart had motivated some who exploited this waiver - and have the ability to pay - to race to become current.

“We see evidence of that,” he added. “We saw anecdotal evidence of that this morning in the sense there were very long lines at BPL.

Some people clearly have the money to pay. Others may have had the money to pay, but they may have had challenges going online or not be a person who uses the Internet.

“We have to make it easier for people to pay, and take away a lot of the stress they are feeling nowadays.

It’s very interesting. Sebas [Bastian, the Island Luck owner], sent me information today that his system permits people to pay their utility bills. We need to continue to improve, and BPL has to continue to improve, and when we run into challenges like this they’re going to improve from it and learn from it.”

Still, Mr Bannister reiterated that electricity bills cannot be wished away.

“They accumulate, and I think it’s important for all of us to appreciate they’re not going to go away,” he told Tribune Business. “There’s no magic in getting bills to go away. They have to be

paid at some stage.

“The Bahamian consumer cannot be responsible for paying Desmond Bannister’s bills or any other consumer’s bills. It cannot be through the government taking on responsibility on a long-term basis for consumer bills and not expecting them to be paid. That’s the taxpayer’s money, your money. All of us have to be responsible.”

The minister added that the government had instructed BPL to be lenient with consumers who had genuinely fallen on “hard times” as a result of the COVID-19 pandemic and were unable to pay their light bill.

“It’s important for them to communicate with BPL,” he said of those persons.

“There are some social services strategies that the government is seeking to unveil, and the Department of Social Services will inform the public about that and provide assistance in certain circumstances.”

FROM PAGE ONE Mr Anderson said there were also few signs of selling pressures among stocks listed on the Bahamas International Securities Exchange (BISX), apart from small, individual retail investors seeking to cash out because of their strained financial situations. Some observers, though, are likely to attribute that to the market’s lack of liquidity and the fact many stocks do not trade on fundamentals.

“I can imagine a lot, if not most of these projects, sliding back until next year,” Mr Anderson told Tribune Business of capital raisings previously-planned for 2020. “It’s possible very little of it gets done this year, but I’m hoping that we get some of it done at the end of the third quarter going into the fourth quarter.

“There’s still the same number of projects sitting out there. There’s still a lot of money sitting and waiting to get moved into investments. Without investments people remain sitting in bank deposits with minimal to low rates for longer. People are looking for investment opportunities to redeploy money, and the real difficulty for investors is what options are available to them.”

Among the deals that had been scheduled to come to market in 2020 were a series of raisings, totalling $100m, to provide a bridging facility for the reconstruction of Nassau’s Cruise Port plus the $140m sought by the government to finance the upgrade of The Bahamas’ major Family Island airports.

Mr Anderson, though, questioned how the cruise and stopover tourism shutdowns, respectively, will impact these because both rely on that industry for the customer base that will help them repay the debt.

Each will charge a passenger user facility fee to repay their lenders, but the uncertainty over when this sector will rebound is likely to act as a drag on both developments.

Another known financing transaction in the pipeline was the $71m local component of the Bahamas Power & Light (BPL) bond refinancing. However, the RoyalFidelity chief added: “If you look at the BPL transaction for example, clearly that’s been put on hold.

“Government had to change some of the legislation around it, but the markets have changed and there’ll have to be some recalibration of that particular security. If that cruise ship facility revolves around tariffs from passengers, how long is it going to be to get full boats to come back here and return to some normalcy again?

“Those airports are all linked into tourism. How long will it be for air travel to get back where it was?

You end up having to defer some of these things until you get air traffic back to certain levels. We don’t know what happens this year. I think it’s going to be harder to raise money for the fact the economy has taken some hits.”

Mr Anderson said the economic landscape for all Bahamian businesses, investors, workers and their families now looked radically different to the one that presented itself just six to eight weeks ago.

“If you look back at the beginning of February, clearly we didn’t see this,” Mr Anderson added. “It’s difficult because there is so much uncertainty around timing, and it’s the timing of the US tourists coming back to market.

“We’re going move into the summer season at the end of the COIVID19 period, and the slower [tourism] season is going to be even slower. I’m not sure what tourists are coming between now and Thanksgiving.”

Despite the huge, and sudden, contraction in the Bahamian economy, Mr Anderson said certain aspects of the capital markets have yet to be impacted. “We still saw a high level of interest in investing in our mutual funds all the way through the end of March,” he disclosed to Tribune Business.

“Particularly fixed income securities, people feel very comfortable. I expect we’ll see similar in April and May as people look for alternative investments. It’s nice to see people still being positive about the markets, and we continue to believe where we are is not bad for years to come. This is a short-term situation, and as the market clears people will come back looking.

“Once we get through this the markets will pick up again, and people will have to look for opportunities again. For us, I’m hoping we can find opportunities for people to invest.”

THE TRIBUNE

Thursday, April 2, 2020, PAGE 5

Doctors chief hails ‘wide ‘Frustration’ over govts silence on e-ecommerce plan decision’ on non-urgent care FROM PAGE ONE “Where physical interaction is a necessity due to a medical emergency there must be strict adherence to social distancing and hygienic requirements.”

Dr Cooper added of the order: “This is to make sure physicians are aware of how serious this is, and to try to contain the [COVID19] spread by having too many people in our offices and things like that. Nonurgent visits may turn into non-urgent procedures or non-urgent surgeries, and you want to limit that exposure to other healthcare professionals so it makes a lot of sense.”

“Non-urgent is if somebody comes to your office because they are having headaches, not severe headaches or the worst headache in their life that you sometimes would get with a stroke, but just a headache, or somebody who is having acid reflux or somebody who has stubbed their toe or they have various minor issues.

“These are things that need not be dealt with immediately.

Another problem is that you may have had constipation for two years and you decide that now I’m not working, let me go to the doctor since I have free time on my hand. Those types of things you want to avoid people coming to your office for.”

Dr Cooper said he thinks this “could work”, and added: “There are some disciplines where they are going to have to continue, but still not with business as usual. At least they are going to think about it, and try to have telephone conversations and use alternative means of triaging the patient.

“For example, you call

them and you see if this is an emergency or not. If it is not then you need to reschedule them for a later date, and if it is then you bring them in to the office and you make sure that you practice social distancing and the other things.

“I think this is feasible.

I think it’s a wise decision.

You have some physicians like the oncologists who are asking to be exempted from that list as well so that they can continue to give people chemotherapy and radiation therapy, and that’s important, too.”

While doctors can still make home visits, Dr Cooper said: “I think that physicians will have to use their discretion as to whether a home visit is required, because sometimes some of these situations are emergencies, and this is not a time where we want patients who are not ambulatory or patients who are bed-bound to end up in the hospital because of an infection or because their blood sugar is high or they have kidney problems. Physicians will have to make a decision whether they need to go and do a home visit to prevent a patient having to go into the hospital.

“I think it is important that physicians also provide a number that patients can reach them at in case they are having an emergency, or something they think is an emergency. What I have done at my office is I have my calls transferred to an office mobile number so the nurse can triage the patient.

“So even though you don’t want people turning up to the office for nonurgent issues we do want the opportunity to triage them in some sort of way so we can find out what the issue is.”

FROM PAGE ONE

e-commerce launch request despite sending numerous letters, e-mails and other contacts.

He described the lack of reply as “a bit discouraging” given the Minnis administration’s purported focus on technology, and said the process of applying for exemptions from the Emergency Powers Order - how and to whom - was unclear.

Mr Burrows, in a March 26 letter to both the prime minister and then-police commissioner, Anthony Ferguson, said CBS Bahamas’ e-commerce platform was “ready to go” and “not some haphazard attempt to create a makeshift order system using What’s App”.

He explained: “This is a fully-functioning and professional e-commerce platform that we’ve invested a lot of money and resources into developing over the past 12 months. As far as we know, we are the only large-scale retailer able to offer a fullfunctioning, complete and fully-integrated online shopping experience.

“This new e-commerce website allows the consumer to access our entire catalogue from the safety and comfort of their home, while also allowing them to make payment via credit card directly on the website. We’re able to deliver any orders/packages ‘nextday’ using a local courier service that we’ve enlisted (Mutru242).”

Pledging that all COVID19 health protocols will be adhered to, Mr Burrows added: “We are able to run this operation with just three staff on hand.

These persons will never have direct contact with one another throughout the entire order fulfillment/ delivery process.

“Our deliveries are made to the ‘doorstep’, which enables the delivery driver

to avoid any sort of direct contact with the end consumer. Additionally, we are able to sanitise packages throughout the process to further prohibit the spread of germs.”

And, emphasising that the demand is there, he said: “Since the start of the 24-hour lockdown we have been overwhelmed with requests for emergency supplies by both contractors and homeowners. Particularly plumbing and electrical materials.”

Mr Burrows yesterday said it was “frustrating not to have heard anything back at all” despite contacting the Prime Minister’s Office, which is the Competent Authority for all matters relating to the COVID-19 emergency, as well as the Attorney General’s Office and police commissioner.

“It would be better if the Government embraces that technology,” he told Tribune Business, adding that the e-commerce service would also generate “a bit of cash flow to keep things going

because it looks like it [the lockdown] is going to be extended out for a period here”.

“It’s a bit discouraging because we have yet to receive any sort of acknowledgement or response,” Mr Burrows said of CBS Bahamas’ request. “Even more disappointing is the fact that, from what I can tell, there is no official communication or guideline on exactly how businesses should even go about this process requesting permission from the ‘competent authority’.

“We have a new e-commerce system that we’ve invested tens of thousands of dollars into developing over the past 18 months, and while it wasn’t specifically designed for a time such as this, it’s now that this technology can truly shine.

“The Bahamian consumer can have access to our entire catalogue, over 35,000 products, available for easy online shopping and next day door-to-door delivery. The ordering, payment, and invoicing process

is completely automated and tied into our inventory system,” he added.

“Every day our customer service team gets barraged non-stop with inquiries from customers looking for essential or emergency repair items. Of course we’ve been getting requests for cleaning and disinfecting products, but in addition we’ve been getting requests for a lot of plumbing parts and a lot of electrical supplies. Another big interest has been door locks and other security products.”

Mr Burrows said it was “a bit disheartening” that CBS Bahamas was seemingly being ignored despite the demand and the fact that the prime minister had just urged food retailers to develop a similar online ordering system.

“Even if the answer is a firm ‘no’, just simply reply and tell us that so we can go about our continuity planning,” he added, while disclosing he had been “surprised by how much demand there is” for hardware and home improvements products.

PAGE 8, Thursday, April 2, 2020

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

To advertise in The Tribune, contact 502-2394

THE TRIBUNE

Thursday, April 2, 2020, PAGE 9

Apply here: How to spend $2.2tn and rescue an economy WASHINGTON Associated Press PRESIDENT Donald Trump aims to shovel $2.2tn into the US economy over the next few weeks to try to cushion its free fall. But that means putting his fate in the hands of banks, profitminded businesses and government bureaucrats he has frequently derided, along with a man who has emerged as arguably the biggest power broker to business in Washington: Treasury Secretary Steven Mnuchin.

The massive bailout package, which includes direct cash payments, $349bn in loans for small businesses and a $500bn corporate rescue fund, is the biggest ever in US history. It’s an attempt to keep the economy afloat as Trump warns Americans to brace for a “hell of a bad two weeks”, with 100,000 to 240,000 coronavirus deaths now projected in the US even if current social distancing guidelines are followed. At the same time, the country is hemorrhaging more than three million jobs a week, with economic forecasters warning of a deep recession that could compromise the president’s reelection chances.

At the centre is Mnuchin, a former hedge fund manager and movie producer who helped to write the package and shepherd it through Congress and now has enormous discretion over which industries are most in need and how to dole cash out accordingly.

And then there is the matter of the president — and questions about whether he’ll want to meddle.

Trump has already made clear he is more inclined to work with those who earn his favour, including returning the calls of governors who praise him and prioritising requests for equipment and vital supplies from Republicans he gets along with in states that will be crucial to his reelection, like Florida.

As for Mnuchin, “He has so much authority under the CARES Act that he can determine pretty much any terms that he wants,” said Peter Henning, a law professor at Wayne State University and a former Justice Department attorney. “He can negotiate the terms of any loan or loan guarantee, so it’s a much broader authority than back in 2008,” when Congress offered a bailout to banks and automakers during the

PRESIDENT Donald Trump hands a pen to Senate Majority Leader Mitch McConnell of Ky, after signing the coronavirus stimulus relief package in the Oval Office at the White House on Friday in Washington. From left: Larry Kudlow, White House chief economic adviser, Steven Mnuchin, Treasury Secretary, McConnell, Trump, House Minority Leader Kevin McCarty, R-Calif, and Vice President Mike Pence.

Photo: Evan Vucci/AP last financial crisis.

With so much discretionary power, Henning wondered whether businesses with political ties to Trump might end up benefiting.

“Is he going to favor businesses that are friendly to the president? I don’t know,” Henning said. “He’s got $2.3tn to dole out. That’s an awful lot of money.”

The legislation does establish a system of oversight on how companies can use the money that is widely thought to exceed the standards set in 200809. Borrowers, for instance, must be based in the US and companies cannot repurchase outstanding stock or pay dividends until one year after their borrowing is repaid. The legislation also prevents companies from providing raises to executives earning over $425,000 annually. And it makes companies ineligible for loans if top Trump administration officials, members of Congress or their families have 20% control of the company or more.

The law also created a new government watchdog — a special inspector general to be appointed

by Trump — and a panel appointed by Congress to monitor how the aid is deployed. Trump, however, has already rejected the independence of the office and disputed other aspects of the oversight rules, including that Congress

should be consulted in the allocation of relief money.

The Treasury Department did not respond to questions about Mnuchin’s role. And the White House declined to answer questions about the potential for influence and instead offered a statement trumpeting the bill.

“Last week, President Trump signed historic legislation that keeps his promise to take care of all Americans, including affected industries and small businesses, in unprecedented ways during this ongoing pandemic. His signature ensures that we will emerge from this challenge stronger and with a prosperous and growing economy,” said spokesman Judd Deere.

The $2.2tn relief bill also contains up to $50bn in support for passenger airlines and $8bn for air cargo carriers, half of the money intended to pay workers.

Mnuchin said yesterday he was already in discussions with airline companies on possible support packages, but stressed, “The way the program works with Congress it is very specific.”

“There are limited industries I can deal with — the passenger airlines, the cargo airlines,” Mnuchin said.

Administration officials indicate that the first major wave of cash to hit the economy will likely come on Friday in the form of $349bn in forgivable loans to small businesses that agree to retain or rehire

their workers. That will be followed by cash deposits of $1,200 per person with incomes below $75,000.

The infusion will depend on banks approving loans at a record pace and an Internal Revenue Service with 20,000 fewer workers than it had a decade ago.

It will also depend on bank websites not crashing amid a crush of loan applications and checks reaching the proper accounts without the money being garnished for people’s past debts.

Mary Miller, who oversaw efforts to revive the economy after the Great Recession as the Treasury Department’s undersecretary for domestic finance, noted that many banks

appear unready to process loans that are forgivable if small businesses keep their workers on payroll.

“I want to see the money hit the ground as quickly as possible, but I’m skeptical that it can work like magic,” said Miller, who is now running for mayor of Baltimore.

“We’re racing against time.

Small businesses can’t wait a few weeks before they fail.”

Companies will have to decide whether it makes more sense to take the loans or let go of employees who can then collect more generous unemployment benefits.

And some are wrestling with what will happen if they choose to take the money, but end up having to close their doors down the line.

Under the programme, loans are provided on a firstcome, first-served basis, and will be forgiven if employers can provide documentation showing they retained workers or hired back workers they have laid off.

The Trump administration has projected a sense of confidence that the loans to small businesses will go out almost instantly after applications are approved starting this Friday. The Small Business Administration says it has expanded from 3,000 employees to 5,000 and more in order to manage the effort.

“Time is of the essence,” Mnuchin stressed Wednesday in an interview on CNBC. “We have a lot of money. We need to get that money in Americans’ hands.”

If the money is exhausted, he said, the administration plans to go back to Congress for more money. “That will be at the top of the list to go back to Congress,” he said.

Other agencies are also operating with diminished manpower, including the IRS, which will help distribute nearly $300bn in checks — it has lost more than 20% of its workers since fiscal 2010. There are also unfilled spots at Treasury, which will force Mnuchin to scramble in order to distribute funds successfully.

“They’re not starting from a full or complete base because they’ve let the positions remain vacant for a long time,” said Sarah Bloom Raskin, who succeeded Miller at Treasury and later served as a Federal Reserve governor.

“You can’t get the medicine administered if you don’t have the people to administer it.”

PAGE 10, Thursday, April 2, 2020

THE TRIBUNE

To advertise in The Tribune, contact 502-2394

FEDERAL Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the US Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programmes. The announcement last week is part of the Fed’s ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak.

Photo: Jacquelyn Martin/AP

Fed steps in once again to try to smooth out lending markets WASHINGTON Associated Press

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

WEDNESDAY, 1 APRIL 2020

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,152.63 | CHG: 35.46 | %CHG: 1.67 | YTD: -78.97 | YTD%: -3.54 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.70 2.60 2.00 5.47 12.77 6.17 4.50 10.60 3.64 5.10 10.88 8.15 16.99 9.40 4.24 15.21

52WK LOW 3.35 20.91 5.50 5.38 1.96 0.67 2.00 10.21 5.60 3.75 6.01 2.53 1.80 8.00 6.46 13.60 6.98 3.14 13.85

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

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

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

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

1.00 10.00 1.00

1.00 10.00 1.00

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.97 11.26 6.00 3.80 6.01 3.28 4.90 9.65 8.15 14.15 8.97 4.23 15.21

CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 3.00 11.26 6.00 4.07 6.01 2.89 4.90 8.98 8.15 14.15 8.97 4.23 15.21

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00 0.27 0.00 -0.39 0.00 -0.67 0.00 0.00 0.00 0.00 0.00

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

1,000 15,000

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 -6.8 15.6 13.4 22.1 42.9 28.3 10.5 13.9 11.2 17.3 9.6 20.8 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% 2.95% 0.00% 15.02% 1.22% 3.65% 2.94% 3.82% 2.23% 2.84% 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% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% 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 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 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 7.00 12.15 12.58 10.81 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 8.31 10.07 7.00 11.42 12.58 10.52 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

THE Federal Reserve is intervening once again to try to smooth out the world’s lending markets, this time by lending dollars to other central banks in exchange for Treasurys.

The Fed’s move on Tuesday marks its latest aggressive effort to keep borrowing rates down and ensure that financial markets can still function in the face of the coronavirus outbreak. The virus has caused a near-shutdown of economic activity in the United States and abroad and made it harder for some banks and companies to borrow. The Fed is trying to facilitate lending and boost confidence that it will do all it can to support the global financial system.

The new lending program will allow other central banks to access dollars without having to sell Treasury securities. Excessive selling of Treasurys typically causes their interest rates, or yields, to rise, and that makes borrowing more expensive. The Fed is trying to prevent this.

“This facility should help support the smooth functioning of the US Treasury market by providing an alternative temporary source of US dollars other than sales of securities in

the open market,” it said in a statement.

Foreign central banks typically lend dollars to banks in their countries, which conduct much of their business in dollars.

The Fed has already expanded dollar “swap lines” with 14 central banks to exchange dollars for an equal amount of foreign currency. The new programme will let central banks sell Treasurys to the Fed, with an agreement to buy them back the next day — a trade known as a “repurchase agreement” or repo. The central banks pay a small interest rate on what is essentially an overnight loan, which can be repeated.

As the coronavirus has disrupted economies and financial markets, banks and other financial institutions have sought to sell Treasurys and other securities to raise cash. This selling pressure has, on some days, driven up Treasury yields and clogged financial markets as sellers have struggled to find buyers. The Fed’s overseas lending programme will enable foreign central banks to convert Treasuries to cash without having to sell them.

The programme will start April 6 and continue for at least six months, the Fed said.

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned.

YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides.

Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property.

This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home.

We look forward to your continued support in this worthwhile endeavour.

MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100

CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus

OPPORTUNITIES • • • •

Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters

BENEFITS

• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

go well. 3242 from a nearbyThursday, eruption April 2, 2020, PAGE 11 caused the 3511 of 233 their stuff, and they had to send an 151. 2315, she did not like him calling a 355 a 324. He went home to 5135 feeling a bit of an 211.

➔

THE TRIBUNE

5

JUDGE PARKER

Solution in Monday’s puzzle pull-out

CARPE DIEM

SuMTHinG Fit the missing numbers into the grid below so that all the sums are correct – reading left to right or on single lines top to bottom. There are 11 squares to fill, with one digit in each, and the 11 digits you must use are listed beneath the grid. But where do they all go?

Solution in Monday’s puzzle pull-out

DX1

4

MARVIN BLONDIE

Daily Express Monday, January 13, 2020

Puzzles

We’ve given you one digit – the 3 on the bottom row.

Here are the missing digits to fit in:

0, 1, 2, 2, 2, 4, 4, 5, 6, 7, 9

The Daily Express Puzzled Mentathlon is in five pa CRUSADER PRIZE CROSSWORD of our puzzles.

Take the last letters of the answer QUIZ OF THE WEEK and the last letter of the fir acrOss 1 Flashy officers are unknown (6) 4 Criticise scare about gland (8) 10 Negative blonde is unjust (3,4) 11 Tore off, getting ready for award (7) 12 Fuel has right colour (5) 13 You and I join British teacher and administrator (9) 14 Teases wild ostrich about English success story (4-2-6) 18 Cleaner catches journalist reporting cute furniture (7,5) 23 Beseeched nurse, in dire need (9) 24 Liable to be lying (5) 25 Old scheme has one elucidate (7) 26 Like foreign articles to be apart (7) 27 In a sly way, likes any disruption (8) 28 Painful, having registered large plant (6)

HAGAR THE HORRIBLE

TIGER

CALVIN & HOBBES

sections.

Now rearrange 1 2 3 those into a 4f DOWN 1 Rely on eccentric payment 9 method (4,4) 2 Say nothing following change in trusted friend (5,3) 10 3 Show teeth in tangle (5) 5 A rice concoction has SuDoku former pupilSAMurAi needing WorDSe oxygen (7) 12 13 9 8 1 4 5 3 6 7 2 2 5 9small 3 6 7 4 8 1 6 Go trawling with J N E E 2 6 4 7 9 1 3 8 5 8 1 7 9 4 5 2 3 6 instrument (9) 5 7 3 2 6 8 4 1 9 4 3 6 2 1 8 5 7 9 F O R P H 7 Being tiny, worried 1 5 9 8 3 6 2 4 7 9 4 1 8 about 5 3 7 6 2 U O A R E temperature 5having 7 3 6 2 9 1 4 8 14 3 2 7 5 1 4 9 6 8 15 8 4 6 9 2 7 1 5 3 2 8 4 7 1 9 5 3 bearing first 6(6) S W T P B 3 8 5 7 9 2 6 1 4 5 3 2 7 9 8 6 4 2 5 3 1 8 Hers travelled 1 9by4 railway 5 8 6 3 2– 7 4 9 8 6 1 5 3 7 9 8 2 4 S G A Z H it’s fortified (6) 7 6 2 1 3 4 8 9 5 6 7 1 4 3 2 1 8 5 7 9 6 S E D A H 9 7 2 1 6 3 8 5 4 9 Drinks supplier for empty 18 19 4 3 8 9 5 7 1 2 6 A T H E N pub with jug (6) 5 6 1 2 8 4 9 7 3 15 Article by evangelist H O E U X 2 6 1 4 3 7 8 2 5 6 3 1 4 9 3 21 2 6 5 8 7 9 22 1 6for 4 2source 9 8 7 5 3 8 4 9 2 6 1 3 4 5 9 8 7 holding record E H A K E 3 5(5,4) 9 7 1 4 2 8 6 7 1 5 3 4 9 1 8 7 6 5 2 of amusement 23 1 3 8 4 6 2 5 7 9 5 7 1 8 3 6 9 2 4 R C N R Y 16 Rose did develop 6 7 5 8 3 9 2 1 4 2 9 3 4 5 1 8 6 7 M E A I T resistance for8 disease 9 2 4 5 7 1 8 3 6 4 6 9 7 2 (8) 5 3 1 8 5 6 7 9 4 3 2 1 4 1 8during 6 2 7 3 9 5 17 Bishop and king, E M X A U 7 1 2 6 5 3 4 9 8 6 3 5 1 8 9 4 7 2 breakfast, become 9 2 7 3 4 5 6 1 8 S K R C Z 25 4 9 3 2 1 8 7 6 5 intellectual (8) I E O G K 19 Vitamin is anSMALL element inCroSSWorD H Y R K G role-playing (7) 20 Gold transaction is a trial (6) Across: 1 Deficient, 7 Sorted, 27 21 Holiday in an9alcove (6) 10 Kilo, Run amok, 12 Hug, THe AL 22 Parking admitted by old 14 Oak, 15 Cube, 13 Heroics, principal (6) 17 Painter, 19 Mentor, 20 In black squar 24 Quiet lout transformed into Down: 30, 31, 32, 35 an animatedgeneral. character (5) 1 Darkroom, 2 Etui,

3 Fun, 4 Commotion, 5 Ironic, 6 Nexus, 8 Doggerel, 11 Ornate, 13 Haven, 16 Beta, 18 Tor.

THE ALPHABEATER

TARGET

Ar i twn DwH

Across: Van Jocund, Cha Awesome, Qu Oversee. Dow cAnTArGeT you crack the Alphabeater? Each grid Namesake, ExtraS Apert number represents a letter – or black square. Quirk,0907 HeArTFeLT As in Alphapuzzle, every letter of the alphabet (Deduct t afterBut falter father fatter CroSS each extra is used. youfare havefate to complete the grid too! feat feather feelblack feet squares felt feralbelow usefear the given letters and ful Across: LINE fetal fetethe fetta fettle flare the feta grid to start. gridfetter is ‘rotationally Down:0907 KNOT flat flatter– in flea fleewords, fleer it fleet free symmetrical’ other looks the *Calls cost 8 fret haftturn halfthe HEARTFELT leafdown. left your tele same if you page upside SuMMiT network raft reef reflate theft Solution tomorrow 73 and 79

● The Target uses words in the main body of Chambers 21st Century Dictionary (1999 edition)

A 8 31 37 20 15 20 28 9 16 20 B C 24 22 39 28 25 39 20 35 5 27 D E 2 40 29 4 13 11 28 5 26 11 F G 8 5 34 8 21 7 38 6 30 15 H I 40 34 21 37 22 36 37 4 7 32 J TODAY’S TARGET Good 13; very good 20; excellent 27 K 4 8 37 28 10 37 22 36 29 38 (or more). Solution tomorrow L M 29 31 25 17 19 9 6 5 14 11 call 0907 181 2585 N for today’s target solution O 12 37 as 4 a number 5 35crossword, 5 26the1task 13 3 Best described in Kakuro *Calls cost 80p per minute plus your telephone P fill all of the empty squares, using numbers 1 to 9, so is to company’s network access charge.

35 of14 16 22 5 the8 number 29 to4 its theQ sum each1horizontal block4 equals left, R and the sum of each vertical block equals the number onSits1top. 4No number may be used in the same block 37 15 23 14 18 39 19 more 8 than T once. The difficulty level of the Conceptis Kakuro increases from Monday to Sunday.

U 14 24 16 20 7 23 24 2 8 20 FIND where the fleet of ships shown is hidden V in the grid. The numbers to the right of and 4 8 19 37 25 40 17 W 21 17 3 below the grid indicate how many of the squares in that row are filled in with ships or X Yesterday’s Yesterday’s parts of ships. The ships do not touch each 21 30 15 11 17 33 Y 26 33 25 1 Sudoku Answer other, even diagonally. Some squares have Kakuro Answer Z 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 tomorrow

1

2

3

4

5

6

7

8

9

10

21

22

23

24

25

26

27

28

29

30 31

■

■

G

11

12

13

32

33

14

H 34 ■ K

15

16

35

36

6

9

3

1

1

3

6

1

2

3

3

1

3

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

WORD BUILDER

1

CRYPTIC PUZZLE 1 It could be the concern of several generations (6,4) 8 Sorely tried and weary (5) 9 Employment of paper folders (7)

3 The objective of a Forster’s passage (5)

11 Tina returns with a new name (5)

6 Note I am in a resort in America (5)

12 Work in a band to commit fraud (6)

7 They are made to meet their match (10)

14 He should honour his agreement to the letter (6)

8 The preserve of the motorist? (7,3)

5

6

15 Particular place is arranged (7) 16 Company gets some grain for money in Russia (6)

22 Soldiers from Tunis (5)

18 Mob breaks up after sailor produces weapon (1-4)

23 Let one down lightly (5,1,4)

20 Blunder that will get you down (5)

9

1 x Battleship 7

3 x Destroyer

2 x cruiser

4 x submarine

11

12

13

14

15

16 17

18

21

13 Type of window in the French upper room (7)

21 Notice a wild flower (7)

19

20

22

23

Yesterday’s Cryptic Solution

Yesterday’s Easy Solution

Across: 1 Nearby, 4 Quaker, 9 Gondola, 10 Globe, 11 Eased, 12 Radiate, 13 Laundry bill, 18 Ferrous, 20 Upset, 22 Avast, 23 Embargo, 24 Desert, 25 Trowel.

Across: 1 Biceps, 4 Bumper, 9 Embroil, 10 Brood, 11 Crave, 12 Fanfare, 13 Pass the buck, 18 Abandon, 20 Get by, 22 About, 23 Exhaust, 24 Desert, 25 Stupor.

Down: 1 Breach, 2 Cobra, 3 Prowess, 5 Urban, 6 Prosaic, 7 Redden, 8 Cliffhanger, 14 At a loss, 15 Big shot, 16 Canard, 17 Oyster, 19 Deter, 21 Thump.

Down: 1 Nagged, 2 Aunts, 3 Broaden, 5 Urged, 6 Know-all, 7 Reeled, 8 Hairdresser, 14 Airways, 15 Blubber, 16 Afraid, 17 Stroll, 19 Outer, 21 Straw.

4

10

4 The old-fashioned sign for old-fashioned farmers (6)

10 Lavish praise (7)

19 A policeman not on duty perhaps is un usual (7)

8

2 Placed on guard when stranded (7)

5 Make no effort to be original (7)

17 Shipping trade (5)

3

Down

EASY PUZZLE

Across

2

Across 1 Shabby (4,2,4) 8 Natural talent (5) 9 Ghastly (7) 10 Manifest (7) 11 Make suitable (5) 12 Marked by florid style (6) 14 Exempt (6) 17 Drink made from apples (5) 19 River of southern Africa (7) 21 Set officially (7) 22 General meaning (5) 23 Conform under pressure (3,3,4)

Down 2 Rousing reception (7) 3 Viking language (5) 4 A salad fruit (6) 5 Cry out suddenly (7) 6 North African country (5) 7 Be summarily dismissed (3,3,4) 8 Hidden character flaw (4,2,4) 13 Type of rotary engine (7) 15 Idealistic (7) 16 Grasp tightly (6) 18 Military supplies store (5) 20 Award for achievement (5)

Answer the clues so that each word contains the same letters as the previous word, plus or minus one.

Solution

1

1 ave

2

2 File

3

3 crit

4

4 Mus

5

5 ras

6

6 Hat

7

7 Drai

PAGE 12, Thursday, April 2, 2020

THE TRIBUNE

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 79° F/26° C Low: 57° F/14° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

MONDAY

Mostly sunny; pleasant, less humid

Clear

Mostly sunny

Mostly sunny

Plenty of sunshine

Sunshine most of the day

High: 79°

Low: 65°

High: 79° Low: 68°

High: 80° Low: 68°

High: 81° Low: 69°

High: 81° Low: 69°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

85° F

64° F

89°-67° F

88°-66° F

87°-66° F

85°-67° F

High: 79° F/26° C Low: 61° F/16° C

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

N

almanac

E

W

ABACO

S

N

High: 72° F/22° C Low: 69° F/21° C

6-12 knots

S

High: 80° F/27° C Low: 66° F/19° C

6-12 knots

FT. LAUDERDALE

FREEPORT

High: 80° F/27° C Low: 68° F/20° C

N E S

E

W

WEST PALM BEACH

W

uV inDex toDay

TONIGHT

High: 77° F/25° C Low: 65° F/18° C

MIAMI

High: 82° F/28° C Low: 68° F/20° C

6-12 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 82° F/28° C Low .................................................... 73° F/23° C Normal high ....................................... 80° F/27° C Normal low ........................................ 67° F/20° C Last year’s high ................................. 84° F/29° C Last year’s low ................................... 65° F/18° C Precipitation As of 2 p.m. yesterday .................................. trace Year to date ................................................. 1.71” Normal year to date ..................................... 4.63”

ELEUTHERA

NASSAU

High: 79° F/26° C Low: 65° F/18° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 76° F/24° C Low: 69° F/21° C

N

KEY WEST

High: 81° F/27° C Low: 73° F/23° C

Low

Ht.(ft.)

Today

3:04 a.m.

3:30 p.m.

High

2.6 2.1

9:39 a.m.

9:39 p.m.

0.5 0.2

Friday

4:08 a.m.

4:36 p.m.

2.7 2.3

10:40 a.m. 0.3 10:46 p.m. 0.0

Saturday

5:09 a.m.

5:37 p.m.

2.9 2.6

11:37 a.m. 0.0 11:49 p.m. -0.2

Sunday

6:06 a.m.

6:33 p.m.

3.0 2.9

12:30 p.m. -0.3 ---------

Monday

6:59 a.m.

7:27 p.m.

3.2 3.2

12:48 a.m. -0.5 1:19 p.m. -0.6

Tuesday

7:51 a.m.

8:18 p.m.

3.2 3.4

1:44 a.m. -0.7 2:08 p.m. -0.8

Wednesday 8:41 a.m.

9:09 p.m.

3.2 3.5

2:38 a.m. -0.9 2:55 p.m. -1.0

S

E

W S

7-14 knots

Sunrise Sunset

7:00 a.m.

7:27 p.m.

Moonrise Moonset

1:50 p.m.

2:54 a.m.

Full

Last

New

First

Apr. 7

Apr. 14

Apr. 22

Apr. 30

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 69° F/21° C

High: 78° F/26° C Low: 69° F/21° C

N

High: 78° F/26° C Low: 70° F/21° C

E

W S

LONG ISLAND

tracking map

High: 78° F/26° C Low: 69° F/21° C

H

Ht.(ft.)

sun anD moon

High: 77° F/25° C Low: 70° F/21° C

N

7-14 knots

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

tiDes For nassau

CAT ISLAND

E

W

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

7-14 knots

MAYAGUANA High: 81° F/27° C Low: 73° F/23° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 79° F/26° C Low: 72° F/22° C

GREAT INAGUA High: 83° F/28° C Low: 75° F/24° C

N

H

High: 78° F/26° C Low: 71° F/22° C

E

W

E

W

N

S

S

7-14 knots

7-14 knots

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

Today: 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 N at 6-12 Knots NNW at 6-12 Knots NE at 7-14 Knots NE at 6-12 Knots NNE at 7-14 Knots N at 6-12 Knots NW at 6-12 Knots N at 6-12 Knots N at 6-12 Knots NNW at 4-8 Knots NNE at 6-12 Knots N at 6-12 Knots NE at 7-14 Knots NNE at 6-12 Knots W at 7-14 Knots N at 7-14 Knots NE at 7-14 Knots N at 6-12 Knots N at 6-12 Knots NNW at 6-12 Knots NNE at 6-12 Knots N at 4-8 Knots N at 7-14 Knots NNE at 7-14 Knots NE at 7-14 Knots N at 6-12 Knots

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

To advertise ALL your LEGAL NOTICES, call The Tribune’s Sales Department

502-2394

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 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 78° F 78° F 80° F 80° F 78° F 77° F 79° F 79° F 78° F 78° F 80° F 78° F 80° F 80° F 79° F 80° F 78° F 78° F 78° F 78° F 79° F 79° F 79° F 79° F 78° F 78° F