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TUESDAY, APRIL 5, 2022
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BNT chief: $50m to enter carbon credits • Bahamas must ‘go down the correct path’ • Cabinet minister in Gabon to learn lessons • Mitchell touts ‘hundreds of millions” benefit
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A SENIOR Bahamas National Trust (BNT) executive yesterday said this nation must likely invest $50m to enter “what could be the very lucrative international financing mechanism” of carbon credits. Eric Carey, the Trust’s executive director, told Tribune Business he believes this nation has “significant bankable carbons” through its abundant mangroves and wetlands that can be monetised into major revenue streams for The Bahamas just when it is seeking to escape a fiscal crisis that was significantly worsened by COVID-19 and Hurricane Dorian.
However, he warned that The Bahamas must “make sure we are going down the right path” by “investing a lot of time and effort” in “a very intense” two-year process to establish the necessary framework for accurately valuing the nation’s carbon credit potential, then have this verified and internationally certified so trading can occur. The BNT chief said the $50m investment required for this was “the number an expert shared with me last week”. Mr Carey spoke out after it was revealed that Alfred Sears, minister of works and utilities, is currently in Gabon, west Africa, to gain an understanding of how The Bahamas can follow that nation’s lead in developing a
system that can fulfill its carbon credit potential. Mr Sears’ west African mission was disclosed by Fred Mitchell, minister of foreign affairs and the public service, and Progressive Liberal Party (PLP) chairman, in an early morning voice note yesterday to the party’s supporters. He suggested that, if The Bahamas is successful, it could generate “hundreds of millions of dollars” in income for this nation. “The environmental international policies these days now have something called carbon credits,” Mr Mitchell said. “Right now, for example, the minister of works, Alfred Sears, is in Gabon, meeting with the Government there, that’s in west Africa, on how The Bahamas can enter the
‘Give us the facts’ on North Andros mining By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE NORTH Andros Chamber of Commerce’s president yesterday urged that the community “get all the facts” so it can make an informed decision on a multi-million aggregate mining project following a heated weekend Town Meeting. Darrin Bethell told Tribune Business that North Androsians, and the private sector especially, want to “make a decision from knowledge and not just hearsay” on whether the proposal by Bahamas Materials Company will be beneficial for residents and the wider economy. Speaking after a weekend Town Meeting in Nicholl’s Town, where he estimated up to 75 percent of
• Chamber chief’s plea follows heated meeting • Opponents of Symonette project shouted down • Proposal for 163 jobs still before Gov’ts NEC
FRED MITCHELL attendees were in support of the development by Cameron Symonette, the Symonette Group’s chief executive, and his partners, the Chamber chief said the overriding sentiment was that it could “awaken the sleeping giant” that is North Andros. Fred Mitchell, minister of foreign affairs and the public service, who attended the Town Meeting together with two other Cabinet ministers, in a voice note to Progressive Liberal Party (PLP) supporters yesterday
SEE PAGE FOUR THE CENTRAL BANK
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
SEE PAGE FIVE
carbon credit market, which has the potential to monetise hundreds of millions of dollars for The Bahamas.” Mr Sears could not be reached for comment, but Gabon was the
SEE PAGE FOUR
Bahamas hotel rooms off 2,500 against pre-COVID
‘All-time high’ demand to offset tourism risks THE BAHAMAS Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “all-time high” travel demand will help offset newly-elevated Central Bank concerns about the “downside risks” facing the sector. Robert Sands acknowledged to Tribune Business that the industry remains “concerned” about the threat posed to its continued revival by future COVID variants, rising oil prices translating into higher airline fuel costs and ticket prices, and further US interest hikes dampening travel demand in The Bahamas’ major tourism source market. However, he said: “I think the industry is concerned but that has to be viewed against the whole question of pent-up demand for travel, which is at an all-time high, and the realities of these costs, which are in part based on geo-political issues that hopefully there will be some resolution to in the not-too-distant future. That will bring some stability in oil prices going forward.” Describing tourism as a “resilient” industry, Mr Sands reiterated: “The industry is concerned but it has to be looked at against pent-up demand for the sector. Location is certainly an advantage for
ERIC CAREY
External reserves jump on banks’ $84m inflow By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE BAHAMAS’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers. The Central Bank, in its monthly economic assessment for February, said: “External reserves expanded by $54.9m to $2,47bn in February, a reversal from the $63.6m reduction in the comparable period of 2021. Contributing to this outturn, the Central Bank’s transactions with commercial banks shifted to a net purchase of $71.1m from a net sale of $15.1m last year.
“Further, commercial banks recorded a net intake from their customers of $84.2m vis-à-vis a sale of $14.8m a year earlier. Moreover, the Central Bank net foreign currency sale to the public sector moderated to $17.1m from $48.8m in the previous year.” As for exchange control sales, the Central Bank added: “Preliminary data on foreign currency sales for current account transactions revealed a $49.1m growth in outflows to $422.1m in February in comparison to the same period last year. The outturn reflected a notable rise in payments for ‘other’ current items ($37.6m), mainly credit and debit
SEE PAGE SIX
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE BAHAMAS’ total resort room inventory has been slashed by 2,500 compared to 2019 levels, a top hotelier said yesterday, arguing that no indicator of industry performance should be viewed in isolation. Robert Sands, the Bahamas Hotel and Tourism Association’s (BHTA) president, speaking after the Central Bank revealed that January 2022’s 72,000 air arrivals were equivalent to just 55.4 percent of those who came during the same month in 2019, said the reduction was partly explained by the postDorian and COVID drop-off in available hotel rooms. “If I had to fathom a guess, I would say available room inventory may be down some 2,500 rooms.
ROBERT SANDS That may be close to 15 percent,” Mr Sands told Tribune Business. Besides the Dorian-ravaged islands of Grand Bahama and Abaco, he pointed to the Melia Nassau Beach Resort and Atlantis’ Beach Towers complex as examples of properties that have closed for renovations. Sandals Royal Bahamian, too, was closed for most of January.
SEE PAGE FIVE
PAGE 2, Tuesday, April 5, 2022
THE TRIBUNE
PRIVATE PILOT ARRIVALS SOAR 105% IN 2021 THE Ministry of Tourism, Investments and Aviation will resume marketing The Bahamas to more than 200,000 attendees at the annual SUN ‘n FUN Aerospace Expo after a 105 percent rise in private plane arrivals compared to pre-COVID. The ministry, in a statement, said it has participated in the event, which begins today in
Lakeland, Florida, for more than 20 years given that it is the largest annual aviation education conference in the state and represents a vital opportunity to promote The Bahamas to private pilots. The Bahamas views itself as a general aviation leader in the Caribbean, and is aiming to further grow this market given the steady increase in
arrivals by private plane. South Florida, too, is especially important given its contribution to tourism throughout The Bahamas. This nation saw its highest number of arrivals by private plane ever in 2021, with a 105 percent increase compared to 2019. Arrivals from South Florida in 2021 accounted for the highest number of US arrivals, more than doubling the
visitor count from priority markets such as New York. “Private aviation reached new heights, literally, with record-breaking arrivals in 2021, and we’re thrilled to continue the momentum,” said Latia Duncombe, the Ministry of Tourism’s acting director-general. “SUN ‘n FUN has become a deeply valued and trusted partner throughout the course of our many years working
together, and we look forward with great optimism to bright skies ahead.” The Bahamas’ longstanding partnership with SUN ‘n FUN has produced events such as the 2016 and 2017 Grand Bahama Air Shows. Every year following the expo, pilots conduct flights to The Bahamas to showcase the close proximity between South Florida and this nation.
This year, Grand Bahama will be promoted as a prime destination for private aviation pilots due to the island’s proximity to Florida, the amount of cultural experiences, varied accommodation offerings and much more. The Bahamas will be showcased at the expo via meetings, seminars and a special “Grand Bahama Island” themed event.
FISHING HABITS STUDY GAINS NATIONAL GEOGRAPHIC FUNDS A BAHAMAS-BASED project has received financing from the National Geographic Society to study COVID-19’s impact on local subsistence fishing habits. The Perry Institute for Marine Science (PIMS), and the Cape Eleuthera Institute (CEI) at The Island School, will carry out the investigation. PIMS scientist, Dr Karlisa Callwood, and her team won one of only 11 awards from among 1200 rival submissions considered by National Geographic as part of its global probe into understanding challenges and changes to the natural world created by the pandemic. Following two years marked by climate and coral catastrophes, social instability and harsh economic times, Bahamians have turned more fully to the sea for food security. This, for some families, could be critical to keeping food on the table. But, following recent hurricanes and the ongoing pandemic, it is important that community use of nearshore fisheries is studied to ensure sustainability. The National GeographicPIMS-CEI project’s ultimate goal is to inform local disaster resilience planning, economic development and responsible
fisheries management by providing information to both the public and policymakers. Zoe Brown, a Grand Bahama native and spokeswoman for the project, said: “Unfortunately, before we can talk about this project, we must first talk about Government research permits. I am an early career Bahamian scientist and I aspire towards research that helps to secure a resilient future for my country. “Right now, because of simple Government permitting, that future is looking bleak.” Ms Brown, a research technician with the Perry Institute and CEI, added: “For months and months, an impenetrable Government process has made it illegal for myself and other scientists to conduct research that could have significant positive impacts for the country. “The Bahamian science community is calling on government to release permits, even if temporary, and to please allow academic scientists to get back to work today - not tomorrow, not next week, not another nine months from now. Today.” Dr Callwood, director of the Perry Institute’s community conservation and education programme, explained: “We’ve seen a surge in the number of
fishers engaged in smallscale fishing since COVID hit The Bahamas, and now it’s time to dive deeper. “Unfortunately, world events are not becoming kinder, so we need to identify the food security challenges our communities are facing. From there we can determine how people are changing their fishing habits to cope and make recommendations to maximise both nutrition and economics when stressors arise.” The parties, in a statement, said little is known scientifically about the impact of subsistence fishing in The Bahamas as there is presently no routine data collection or monitoring taking place. This knowledge gap, Dr Callwood said, can severely hinder effective resource management and sustainable use if not addressed right away. On the Family Islands, where resources and social services can be limited, subsistence fishing – which refers to small-scale fishing with the goal of putting food on the table rather than for sale – provides a much-needed safety net for families and communities during troubling times. Working alongside Dr Calwood, Dr Nick Higgs of Cape Eleuthera Institute pointed out that “in
DR Nick Higgs deploys lobster condos as part of his sustainable fisheries research off Cape Eleuthera. one well-monitored smallscale fishery offshore of the Cape Eleuthera peninsula, Queen conch catches increased by a three-fold throughout the pandemic”. With the onset of The Bahamas’ early COVID lockdowns, small-scale fishing was among the few activities the Government allowed. Coupled with a dramatic rise in unemployment, scientists suspect small-scale fishing has been on the rise, which kicked off this research. Dr Callwood and Dr Higgs will consult with local fishermen and seafood consumers in rural Eleuthera and Nassau. With this funding from National Geographic, and once the project receives long-awaited government permits, a second Bahamian undergraduate student will be hired to support the research. The team will use surveys, interviews, focus groupsand community meetings to
unveil how families shifted their fishing habits during times of crisis. Once analysed and published, this information will be crucial for government policy and community planning in the event of future disease outbreaks or other potential social disturbances, such as hurricanes. “Our goal here is to help Bahamian communities become more resilient and food secure,” said Dr Callwood, the lead researcher on the project. “If the pandemic causes Bahamian families and their relatives to turn to subsistence fishing in order to eat and stay healthy, then we need to ensure this resource remains intact for future periods of instability.” Healthy ocean ecosystems can act as a ‘natural insurance’ in times of socioeconomic shocks and climate catastrophe, especially with The Bahamas situated in the centre of the Caribbean hurricane
belt. Notably, The Bahamas ranks second in the Caribbean for dependency on food imports and one in every three persons face some level of food insecurity. Dr Higgs added: “Smallscale fishing could be a turnkey to creating more resilient communities in times of crisis. Government has a responsibility to ensure the long-term sustainability of key ecosystems and species that underscore this resource. “Science has a responsibility to provide good information so policymakers can make good decisions.... We’re a food insecure nation. But, if we allow science to happen, and listen to what that science is telling us, we can change that. By working together, we can create policy that benefits both our people and our environment.”
BDB RECEIVES 250 ORANGE ECONOMY GRANT FUND BIDS REQUEST FOR PROPOSAL RE: ATLANTIS BOILER MAINTENANCE/WATER HEATER INSPECTION & MAINTENANCE 2022
Atlantis, Paradise Island Bahamas is soliciting proposals from qualified and experienced companies, who have demonstrated the ability in providing remarkable Boiler Maintenance/Water Heater Inspection & Maintenance Services.
The contents of the RFP # IHCL-BOILER-001 and the Vendor Selection Process can be obtained by going to our website and accessing the following link:
AtlantisBahamas.com/about/rfp
THE BAHAMAS Development Bank (BDB) says it received 250 applications for grant financing from creative entrepreneurs seeking assistance to help purchase much-needed equipment. The institution, in a statement, said 26 or just 10 percent of the highest-scoring applicants were selected to receive the funding from its Orange Economy Micro Technology grant programme. The winners came from four islands, namely Andros, Exuma, Grand Bahama and New Providence, and were evenly split by gender between 13 men and 13 women. The grant awardees are Alexis Clarke, Ashleigh
Rolle, Ashley Whitney, Brandon Kemp, Brittney Ambrister, Christopher Smith, Colette Parker, Denise Poitier, Denzel Lightbourne, Dion Cunningham, Durelle Williams, Farreno Ferguson, Felicia Woodside, Ilka Rodgers, Johnny Gray, Kache Knowles, Kenrick Wells, Kevin Fox, Ky’Shaun Miller, Lisa Davis, Miquelle Swann, Neville Smith, Reagan Kemp, Reuno Smith Pratt, Shanaye Smith and Travis Miller. Winners were selected based on a criteria including their level of experience and ability to express the potential expansion of their projects. The awardees spanned multiple sectors
in the creative community including visual arts, content creation, graphic design, music, cultural heritage, performing arts and shows and software development. The BDB said it is placing great focus on the goals set out in the National Development Plan, and especially the so-called blue (ocean), green (environmentally sustainable), and orange (cultural) economies. The grant initiative aims to increase the creative capacity of Bahamians. Successful applicants were awarded a MacBook Pro to improve the quality of their productions and help raise their productivity. “After hosting our Conversations with the Orange Economy Series in 2021, the bank realised that access to equipment is one of the biggest needs within the creative community,” said Sumayyah Cargill, the BDB’s unit head of strategic development and initiatives. “Bahamians are creative, innovative people,” said Senator Quinton Lightbourne, the BDB’s chairman, “and the bank is committed to investing in the orange economy to help develop various sectors and offer opportunities for creative entrepreneurs doing unique work. “Through this grant programme, we were able to get a glimpse of all of the amazing creative work happening in our country and the bank is proud to support these works and help them grow both locally and internationally.”
THE TRIBUNE
Tuesday, April 5, 2022, PAGE 3
MINIMUM WAGE INCREASE LIKELY TO BE $250 ‘OR CLOSE’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE BAHAMAS Chamber of Commerce and Employers Confederation’s (BCCEC) labour division head yesterday said the minimum wage increase will likely “match $250” per week or “close to it”. Peter Goudie told Tribune Business that while he is not part of the committee formed by the National Tripartite Council to examine the issue, based on what he is hearing the committee may agree to the sum pledged by the Progressive Liberal Party (PLP) in its
general election campaign manifesto. “The committee are still having surveys done, and I guess they want to put it all together, but we should have a meeting this coming Thursday. I don’t know if they are going to talk about it then or not. You heard what the Prime Minister said; he was looking at $250 a week, so we’re probably going to come close to it or match it,” he added. Branding current inflation as “frightening”, and providing more than sufficient justification to raise the current $210 per week week minimum wage, Mr Goudie added: “It’s bad everywhere. The only thing
that is in our favour is that we live on a rock that is only 22 by seven miles” so persons do not have such great distances to travel amid skyrocketing fuel prices. “I think it is probably going to be close to $250 a week is all I can say, but let’s wait until Friday to see if they propose anything different than what we expect,” Mr Goudie added of the committee. At $250, that would represent a 19 percent increase on the present minimum wage, and be only the second time there has been a rise since it was introduced in 2002. The first was in 2015, when it rose by 40 percent from $150 to
PETER GOUDIE
OBIE FERGUSON
$210 as a result of VAT’s introduction. Obie Ferguson QC, the Trades Union Congress (TUC) president,
said yesterday: “We’ve had meetings with regard to the Government and things are progressing. This is precisely what we wanted.
FAMILY ISLANDS EYE EASTER BOOST FROM COVID TEST END
“We have a committee from the outside reviewing the rise in the minimum wage, and the Government is actually doing the same thing. I’m certain employers are doing the same thing, so this is eventually going to happen. “Once the minister of labour circulates the actual document, I think it will require him to have consultation certainly with the labour movement, and he will have to have consultation with the employers. Therefore I think we will collectively come up with our position as to why we think a minimum wage of $210 is not adequate for a Bahamian family of four.”
“Easter is looking very good, but it is a little lower because we have found that even our American friends, where the most of our tourists come from, they respect Easter and don’t travel as much and prefer to have family time on the ground at home. “But, for us, Easter looks very healthy for domestic travellers, which is about 20 percent above what it usually is. That is really encouraging. Every day we are slotting in all of our open spaces and there is very keen interest in wanting to come to The Bahamas.” Speaking of a recent fishing conference she attended in Salt Lake City, Utah, she added: “Americans were
coming to our booth. They were flocking there and getting the information, and we’re trying to guide them to get the right information, what are the best deals and what type of offers we have. “We even have a domestic programme that a lot of Bahamians are not fully aware of that you can stay at one of the board properties for four nights, and you get two free tickets. You can fly into Long Island, you can go to a wedding or a funeral or something, and you don’t have to pay for the ticket.” Faron Sawyer, president of Cherokee Air, said of the inter-island testing elimination: “I think this is a good thing. Things are picking up and COVID-19 is nearly
gone. I can see our bookings looking good for the summer, and a lot more people are going to travel.” Easter is looking “awesome” for Cherokee Air as “we’ve started to get calls now, and people are wanting to move about. I would say just before Easter and after Easter, we have more than we could handle,” Mr Sawyer said. Anthony Hamilton, Southern Air’s director of administration, and president of the Bahamas Association of Air Transport Operators, added: “I can say we saw a spike in demand before the lifting of the testing requirement, but I suspect demand will rise now that there is relief from the cost and red tape in connection with travel.”
Don’t over-indulge in ‘financial candy’
Chantell Varence, Varence Empowerment Network’s owner, shared her knowledge on cryptocurrency. She discussed the different mindsets of consumers and investors, and encouraged workshop participants to have the latter.
“Most persons have a consumer mindset and go to work just to pay bills with one income. The investor mindset means asking ‘How I can pay me first?’ while having multiple streams of income,” Ms Varence explained.
By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net EASTER holiday is looking “very good” for domestic tourism now that the COVID-19 inter-island testing requirements have been dropped, multiple Family Island hotel operators said yesterday. Cheryl Bastian, president of the Bahamas Out Island Promotion Board, told Tribune Business: “Things were favourable for us long before the Government eliminated the COVID testing for inter-island travel, but it is a welcome thing. People in the United States are hardly wearing
THREE Bahamian financial institutions have urged Bahamas Technical and Vocational Institute (BTVI) staff and faculty not to over-indulge in financial “candy” but instead focus on savings and investments for financial success. Executives from Colina Financial Advisors (CFAL), Fidelity Bank (Bahamas) and Varence Empowerment Network delivered this message
masks, and it’s not that they’re being careless, but they know the numbers are down and they just had enough.” Removing the testing requirement for inter-island travel from New Providence and Grand Bahama “just made sense” considering Americans are not wearing masks any more and the COVID-19 infection rate is dropping, Ms Bastian said. “This could only now be a plus for domestic tourists travelling through the islands. It is not being irresponsible, but we are being guided by the health professionals,” she added. “I agree with Mr [Robert] Sands [president of the Bahamas Hotel
during an interactive virtual financial literacy workshop. Richard Pinder, CFAL operations supervisor, and Ernst Pierre, a Fidelity Bank (Bahamas) loan officer, spoke on traditional methods for financial success. Mr Pinder elaborated on cash, fixed income, equities, mutual funds and real estate investments. “Too much of a sweet thing ends up with a bad result. The financial vegetables are typically something
and Tourism Association] that our COVID levels are lower, so that it is going to encourage more business with the conventions and conferences and others. So we need to slowly ease this down. I see now with Canada they are starting to open up their gateway and reduce just about all of their restrictions, even for masks, and I think we are going to follow them after that and I think the US will as well.” With the spike in COVID-19 cases in Europe and Asia, Ms Bastian said the Government may continue with the COVID19 entry testing “just to be sure.” She added: “In enclosed areas we should continue with the masks.
that is long-term like retirement planning, investing or a mortgage. If you eat a salad only once day, you won’t be slim and trim. It takes multiple rounds of salads to see some real change in your body. That rings true to your financial journey,” said Mr Pierre. “The reality of it all is, most persons indulge in the candy because it is quick and easy. Persons sometimes buy goods to impress their friends and colleagues.
However, it is best to indulge 20 percent in financial candy and 80 percent in financial vegetables to reach true financial fitness.”
REQUEST FOR PROPOSAL RE: ATLANTIS PARKING STRUCTURE REPAIRS 2022 PICTURED from L to R are CFAL operations supervisor, Richard Pinder; Fidelity Bank loan officer, Ernst Pierre; and Varence Empowerment Network owner, Chantell Varence.
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The contents of the RFP # IHCL-DEVPARK-001 and the Vendor Selection Process can be obtained by going to our website and accessing the following link:
AtlantisBahamas.com/about/rfp
PAGE 4, Tuesday, April 5, 2022
THE TRIBUNE
BNT CHIEF: $50M TO ENTER CARBON CREDITS FROM PAGE ONE first African country to receive results-based payments for curbing deforestation of its rainforests under the Central African Forest Initiative (Cafi). It last year received $17m from Norway through Cafi because of reduced emissions from forest loss in 2016 and 2017, which were lower than the 2006-2015 targets. The payment is part of a 2019 agreement between Gabon and Cafi that could see the former receive up to $150m for reducing emissions from deforestation and land degradation over ten years. The scheme is designed to eventually allow Gabon to sell its emissions reductions as carbon credits on the open market. The Davis administration is likely assessing whether The Bahamas can accrue similar financial benefits from restoring, or protecting, its mangroves, wetlands, sea grass and coral reefs, which are all regarded as great sequesters of carbon, capturing
and storing it in their roots and soil. Mr Carey, meanwhile, said the BNT was working with several organisations to determine which national parks and other areas it manages can “play a role in the national carbon credit potential”. He confirmed the Trust has held talks with Marvivo, a company involved in projects to eradicate deforestation and promote wildlife conservation in Mexico’s Magdalena Bay and Baja Peninsula, plus Indonesia. Ex-MP and Cabinet minister, Earl Deveaux, is Marvivo’s Bahamas representative. He declined to comment when contacted by Tribune Business yesterday, but Mr Carey said the BNT was assessing how it can work with Marvivo to “determine tradable blue carbon assets” especially in the 1.5m acre West Side national park west of Andros. “We believe The Bahamas has significant bankable carbons,” the BNT executive director told this newspaper. “It is our view that it needs to be
carefully assessed, and we need to make sure we are going down the right path. Yes, I am convinced there is significant value.” Carbon credits were originally devised as a means to incentivise companies, and countries, to reduce the greenhouse gas emissions that drive the global warming thought to be behind the more frequent, and intense, hurricanes that have devastated many islands in The Bahamas over the past two decades. Negotiators at the Glasgow COP26 climate change summit in November 2021, which was attended by Prime Minister Philip Davis and a Bahamian delegation, evolved this further by agreeing to create a global carbon credit offset market that would encourage countries to work towards their climate change targets by buying credits representing emissions reductions by other states. Mr Carey said he was aware that different institutions and exchanges employ various means to value carbon credits, while individual countries can also
develop their own verification models. While The Bahamas had the possibility to gain credits for restoring or regenerating mangroves, wetlands and seagrass, he added that it was “more difficult to sell carbons” relating to areas that are already protected or not under threat. “You have to quantify it,” Mr Carey said of The Bahamas’ carbon credit potential. “It’s a very stringent process. The BNT is working with a couple of organisations to clarify and determine what areas managed by the BNT can play a role in national carbon credit potential. “It’s an intense process, and we may have to invest up to $50m to get the inventory, the verification and international certification. That can take a couple of years. Over that period you have to invest a lot of time and effort so you can have your data verified by international experts, and when you are ready to trade carbons it’s an international commodity based on type and value which is bankable and tradable.”
‘GIVE US THE FACTS’ ON NORTH ANDROS MINING FROM PAGE ONE somewhat downplayed the extent of Bahamas Materials’ support. Affirming police estimates that the meeting at Nicholl’s Town primary school was attended by 250 persons, Mr Mitchell said himself as well as Glenys Hanna Martin, minister of education, and Basil McIntosh, minister of state for the environment and natural resources, had been speaking on “public policy issues” at what became a “lively” meeting. “It turned out that the hot button topic for the evening was one that was not listed; that of a proposal on the table for the mining of aggregate in North Andros on a combination of private and Crown Land,” Mr Mitchell said. “The proposal is similar to one in Grand Bahama where aggregate is mined and shipped out of the country. “A group of young men sought to present the case that this proposal will provide $53m in monies over ten years for employment, and 150 jobs. The difficulty is that because that proposal is before the Government, none of us would comment
on any of the proposals and its disposition.” This, Mr Mitchell said, resulted in “push back” from the same young men. He added that the Government’s position is that the Morgan’s Bluff port in North Andros is to remain publicly-owned and operated, even though Mr Symonette and his Bahamas Materials partner, Ted Baker, have never proposed acquiring it as part of their project. Mr Mitchell also sought to link Bahamas Materials’ project to climate change, although he did not make a convincing case for connecting the two while referring to the potential carbon credits hold for The Bahamas. He said: “It maybe that it is better to leave our forests, leave the sand, the aggregate and aragonite in the land, the ground at at sea. Nowadays they’re paying Gabon not to cut down its forests. “No comment was made on the project in North Andros because the decision is still outstanding. It raises the question of whether the present generation has a responsibility to protect our heritage today, or forget about [that] and
just cash in today. The answer is for the Government and Bahamian people to decide.” Mr Symonette declined to comment when contacted by Tribune Business yesterday. This newspaper understands that he and the Bahamas Materials team have effectively been gagged by the Government from speaking publicly about the project, or fully engaging with the North Andros community, because it is still under review by the Cabinet’s National Economic Council (NEC). The proposal, which was first presented to the Minnis Cabinet, is understood to have been shown to the Davis administration at end-January and a decision is now awaited as to whether it will be given approval in principle so Bahamas Materials can begin the process of obtaining its environmental approvals and holding Town Meetings with the community in North Andros. Meanwhile, Mr Bethell said both the extent of support for Bahamas Materials and the temperature at the meeting was greater than that allowed for by Mr Mitchell. He estimated
that around 75 percent of attendees were in support of the project, with many wearing t-shirts and face masks indicating as such. The North Andros Chamber president said the issue was briefly discussed by both Mr Mitchell and Leonardo Lightbourne, the area’s MP, with the latter telling the meeting he was “aware there was strong support for the project” and is “going to do all he can to make sure the project gets moving into the next stage”. Voicing surprise at the backing for Bahamas Materials, Mr Bethell said the meeting became really heated when the project’s arch opponent, Prescott Smith, the Bahamas Fly Fishing Industry Association’s (BFFIA) president, and his attorney, ex-PLP MP, Keod Smith, began speaking out against it. Acknowledging that opponents were in the minority on Saturday evening, the Chamber chief said Keod Smith was unable to complete his speech and police officers had to intervene to “control the crowd and settle them down”. He said the sentiment from the majority of attendees was that the Smiths and other opponents were threatening “to take bread out of our mouths, opportunities out of our way”. “There was strong discussion throughout the evening about North
Mr Carey said countries have the ability to either conduct one-off carbon credit transactions with other nations or companies, or have them traded on an exchange. “All of this has to be worked out,” he added. “What is the best method or framework that could work for us?” The Trust chief said he understood the Government has formed a committee to examine The Bahamas’ carbon credit potential that includes four-five Cabinet ministers, three permanent secretaries and other technical officials. Among its members, he suggested, are Senator Ryan Pinder, the attorney general; Senator Michael Halkitis, minister of economic affairs; and Simon Wilson, the Ministry of Finance’s financial secretary. “We have had discussions with any number of international players in the carbon space,” Mr Carey told Tribune Business of the BNT, “and we’ve had some discussions with a company called Marvivo. Marvivo is a company that’s
done carbon credit analysis, certification and testing in places like Indonesia and Mexico. “We have had meetings with them, they’ve made representations to the Government, and we’re exploring ways of working with that company to determine potential tradable blue carbon assets. The west side of Andros is a significant area of intact mangrove systems. We have the ability to enhance management systems by investing in staff and resources, and bring it to an area that’s under threat from alternative use, and become bankable carbons.” Mr Carey said The Bahamas would have to preserve and protect ecosystem habitats that earned it carbon credits as part of the transaction. And he said this nation would have a framework whereby it can assess, and compare, the value of restoring such areas as opposed to using them for other types of economic development, thus ensuring The Bahamas gets the best return on its land, ocean and other assets.
Andros wanting opportunities for what may be economically beneficial to the community,” Mr Bethell said. “They want to have a better understanding and know what risks are out there concerning this project so they can make a sound decision as to whether to support it. That was the general sentiment. “It was we want better. We see other islands moving forward. We believe this project can awaken the sleeping giant. I spoke to a lot of people. They were saying give us the opportunity to have a Town Meeting, hear the folks and let us make a decision. Give us the environmental studies, the economic studies and let us make a sound decision.” As for the private sector, Mr Bethell added: “The business community is just really concerned about the facts. We want to know more about the project and get all the facts, not through social media and public commentary. When you go into business you want more economy, you want more growth in the community. “They want to look at the project, see the merits and if there are any potential liabilities protect themselves against them. The key is for people to get the facts and make a decision from knowledge, not from hearsay.” Sources familiar with the project, speaking on condition of anonymity because they were not authorised
to do so, said it planned to create 163 direct jobs in Andros along with numerous spin-off entrepreneurial opportunities. They dismissed any climate change concerns, saying the project will be located on “fallow” land in the shape of the Water & Sewerage Corporation’s 5,500 acre wellfields that have been inundated with seawater from past hurricanes. Bahamas Materials plans to mine the site for calcium carbonate (limestone). The extracted rock would then be crushed and screened at a purpose-built plant before being exported by sea to either Florida or New Providence for use by the construction industry in a variety of construction applications. However, the plans go beyond mere aggregate mining to explore how the land could be reclaimed, and repurposed, for other productive use such as real estate once all the rock has been extracted. Bahamas Materials Company is proposing a corporate structure where a subsidiary, Morgan’s Bluff Development Group Ltd, owned by local residents would control/ own the land and lease portions to it for mining via a phased approach. “The control remains with the Government and the people,” a source said. “This project will pay royalties, it will pay taxes and it will pay Business Licence fees.”
THE TRIBUNE
Tuesday, April 5, 2022, PAGE 5
‘ALL-TIME HIGH’ DEMAND TO OFFSET TOURISM RISKS
FROM PAGE ONE The Bahamas, the distance from our primary market in the US and the distance to travel to this destination. That will help play a part in The Bahamas remaining on its trajectory. “Yes, we are concerned about any other related COVID issues, but The Bahamas in the last three weeks has been able to demonstrate with increased numbers in the destination that we have been able to hold cases at a level. We want to be top of the list for managing COVID cases throughout the Caribbean.”
Mr Sands said this was translating into “a positive trend of forward bookings and interest in the destination, and we are seeing bookings going beyond the traditional winter season into the end of April, May and even June. There may be a new dynamic as result of pent-up demand”. He was speaking after the Central Bank, in its economic assessment for February, intensified warnings about the growing risks to The Bahamas’ tourism-led recovery. “Expectations are that the domestic economy will continue to recover during
2022, as tourism output converges progressively closer to pre-COVID-19 levels,” it said. “However, downside risks to the industry persist given continued elevated international health and travel sector exposures to disruptions from further mutations of the virus; the potential for rising energy costs to erode travel sector competitiveness; and counter-inflation polices that could dampen source market consumers’ capacity to spend on travel.” However, the Central Bank counter-balanced this, saying: “New and ongoing
foreign investment-led projects, combined with post-hurricane reconstruction works, are anticipated to provide continued stimulus via the construction sector. “In the labour market, the unemployment rate is expected to remain above pre-pandemic levels, but with further workforce engagement, concentrated largely in the construction sector and rehiring of tourism sector employees. In terms of prices, elevated inflation rate is anticipated, reflective of increased international oil prices, higher costs for other imported
goods and supply chain shortages linked to geopolitical tensions in Eastern Europe.” Focusing back on tourism, the Central Bank said: “The most recent data provided by the Nassau Airport Development Company (NAD) showed that total departures, net of domestic passengers, grew to 80,276 in February from 16,098 in the corresponding month of 2021. Specifically, US departures moved higher to 69,653 from 15,058 in the prior year, while non-US departures improved to 10,623 from 1,040 in the preceding year.
“On a year-to-date basis, outward-bound traffic expanded to 157,447 passengers, a recovery from the 86 percent decline same period last year, when borders remained closed to contain the spread of the virus. Reflecting this outturn, US departures rose to 134,853 visitors, a turnaround from the 84.9 percent fall-off a year earlier. Similarly, non-US departures grew to 22,594, a reversal from the 91.3 percent decrease in 2021.”
BAHAMAS HOTEL ROOMS OFF 2,500 AGAINST PRE-COVID FROM PAGE ONE The latter has now been replaced by the British Colonial Hilton’s shuttering, and the BHTA chief said there were smaller properties throughout the Family Islands that may have found it impossible to recover from the COVIDrelated devastation. “It all adds up,” Mr Sands said. He spoke out after the Central Bank’s monthly economic assessment for February revealed that total air arrivals for the prior month were still some way short of pre-pandemic comparisons when 129,798 air arrivals visited The Bahamas in January 2019. That leaves a near 58,000 difference to make up. While January 2022 was impacted by the COVID Omicron variant, which surged in both The Bahamas and key source markets, the Central Bank said: “Monthly data suggested that tourism maintained its growth trajectory, although with continuing travel sector caution amid lingering pandemic conditions. “Provisional data from the Ministry of Tourism showed that total visitor arrivals by first port of entry advanced to 312,201 in January, from just 23,619 in the comparative 2021 period. Leading this development, air arrivals increased to 71,908 from 20,792 in the previous year, restoring 55.4 percent of the passengers received in 2019. Sea traffic, also resumed at 240,293 vis-à-vis 2,827 visitors in the prior year. “Disaggregated by major market, total arrivals to New Providence strengthened to 162,654 in January from 13,236 in the same period last year. Underlying this outturn, the air and sea segments advanced to 53,629 and 109,025 passengers, respectively,” the Central Bank continued. “Similarly, foreign arrivals to Grand Bahama rose to 9,768 from 1,052 a year earlier, with air and sea outcomes of 1,775 and 7,993, respectively. Likewise, traffic to the Family Islands recovered to 139,779 visitors, extending the volume of just 9,331 in the prior year, attributed to air and sea passenger intakes of 16,504 and 123,275, respectively.” Mr Sands, in response, said of the air arrivals comparisons: “Here again you cannot look at airlift in 2022 versus airlift in 2019 in isolation. You also have to look at the availability of hotel rooms that existed in 2019 against the availability of hotel rooms that exist today. The reality is that, both as a result of the pandemic and Hurricane Dorian, and the issue with hotels under renovation, we still have not been able to get hotel room count back to the level of 2019. “What has been taking up some of the slack is the
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large growth in Airbnb rooms, and that is a sector that continues to grow. All of these factors together dictate the amount of air seats coming into the destination. When you look at Abaco, Grand Bahama and some of the other islands who have not recovered due to multiple reasons, airlift is down considerably.” Vacation rental data published by AirDNA for February 2022 revealed that room nights sold had more than doubled, increasing by 130.5 percent, while average daily rate (ADR) and ADR for entire place listings were up by 16.1 percent and 11.3 percent, respectively. “In the short-term vacation rental market, data provided by AirDNA for February revealed positive trends within the market,” the Central Bank said. “In particular, total room nights sold increased to 98,389 compared to 50,906 in the comparative 2021 period. In particular, occupancy rates for both entire place and hotel comparable listings rose to 55.2 percent and 50.7 percent, respectively, vis-à-vis 43.6 percent and 38.7 percent a year earlier.
“Price indicators strengthened year-overyear, as the average daily rate (ADR) for hotel comparable listings firmed by 15.1 percent to $181.36 and, for entire place listings, by 8.3 percent to $486.90.” Further focusing on the positive, Mr Sands said:
“The numbers are also increasing in terms of stopover visitors monthover-month. I think it’s indicative of the level of occupancy persons are seeing, and the other reality is that we’re beginning to see increases in the average length of stay, which may
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have an impact on the quantum of airline seats coming into the destination.” While not providing figures for either indicator,
the BHTA president added that increased visitor length of stay reduced the need for the same volume of airline seats.
PAGE 6, Tuesday, April 5, 2022
THE TRIBUNE
EXTERNAL RESERVES JUMP ON BANKS’ $84M INFLOW FROM PAGE ONE
card financed imports, and oil imports ($14.6m). “Foreign currency outflows also rose higher for factor income remittances ($2.9m) and travel-related transactions ($2.4m), whereas reductions were posted for non-oil imports ($4.6m) and transfer payments ($3.9m).” Turning to the commercial banking sector’s loan book quality, the Central Bank added that
this improved in February due to a reduction in non-performing loans and short-term arrears. “Specifically, total private sector arrears decreased by $59.8m (7.6 percent) to $725.3m, corresponding with a 1.1 percentage point narrowing in the relevant ratio to 13.3 percent of outstanding claims,” the regulator said. “An analysis by average age of delinquency showed that short-term arrears contracted by $59.3m
(23.7 percent) to $190.8m, resulting in a 1.1 percentage point fall-off in the accompanying rate to 3.5 percent. Similarly, non-performing loans (NPLs) decreased slightly by $0.4m (0.1 percent) to $534.5m, with the attendant ratio remaining unchanged at 9.8 percent.” There was a decline in the NPL rate for consumer loans by 10 basis points to 10.1 percent, while commercial loans and mortgage delinquency rates rose by eight and by six basis points
to 5.5 percent and 11.1 percent, respectively. “A disaggregation by loan type showed that mortgage arrears reduced by $45.4m (10.2 percent) to $398.2m, as the $46.3m (28.5 percent) retrenchment in the short-term segment outstripped the $0.9m (0.3 percent) rise in non-accruals,” the Central Bank said. “Likewise, total consumer arrears decreased by $16.1m (5.8 percent) to $262.4m owing to respective
declines in both short-term arrears and NPLs of $13.8m (19 percent) and $2.3m (1.1 percent). In contrast, commercial arrears rose by $1.7m (2.7 percent) to $64.7m after a $0.9m (1.9 percent) rise in the long-term segment, and $0.8m (5.5 percent) uptick in the short-term arrears. “Meanwhile, banks reduced total provisions for loan losses by $10.3m (2 percent) to $509.1m. Consequently, the ratio of provisions
OIL PRICES UP, ASIAN SHARES SLIP AFTER TECH RALLY ON WALL ST By ELAINE KURTENBACH AP Business Writer SHARES fell Tuesday in Asia and oil prices advanced after a techdriven rally on Wall Street. Trading was light with many regional markets including
those in China closed for holidays. Tokyo's Nikkei 225 index edged 0.1% lower to 27,705.25 and the Kospi in Seoul also fell 0.1%, to 2,755.36. The S&P/ ASX 200 gained 0.7% to 7,565.80. Malaysia fell while Singapore gained.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, CAMERON JEROME
JOHNSON & DEREKA CHEREZ B. KELLY AKA DEREKA CHEREZ B. FERGUSON of Eastern District Nassau, The
Bahamas, parents of KIMANI LEANA AKEELAH FERGUSON a minor intend to change my child’s name to KIMANI LEANA AKEELAH JOHNSON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
Russia's invasion of Ukraine has elevated concerns about rising inflation and the impact on global economic growth. Prices for everything from food to clothing were already rising and the war has added to volatility for energy prices. The World Bank has downgraded its 2022
growth forecast for the Asia-Pacific region to 5% from 5.4%, in part due to disruptions to supplies of commodities, financial strains and higher prices. That follows a rebound to 7.2% growth in 2021 after many economies experienced downturns with the onset of the pandemic.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SHANDIA ORMANETTE CLARKE of Ernest Street, P.O. Box SS 5112, Eastern District, Nassau, Bahamas, intend to change my name to SHANDIA ORMANETTE BENEBY-MUNNINGS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE NOTICE is hereby given that ALDRIDE JOSEPH of Evans Street, East Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
MARKET REPORT www.bisxbahamas.com
MONDAY, 04 APRIL 2022
BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 40.50 2.05 2.90 2.60 6.05 10.05 2.56 9.02 3.10 7.20 13.00 2.71 10.25 11.25 10.75 15.00 4.00 10.00 16.50
52WK LOW 4.55 32.12 1.46 2.20 1.30 5.50 6.00 2.82 4.25 2.27 5.50 9.75 1.99 6.50 10.02 9.00 13.10 3.50 8.00 15.50
SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank (Bahamas) Limited Focol Finco J. S. Johnson
PREFERENCE SHARES 1.00
1.00
1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 10.00 1.00
1.00 10.00 1.00
Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00
52WK LOW 100.00 100.00
SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited
CLOSE
CHANGE
%CHANGE
YTD
YTD%
2226.32
-4.03
-0.18
-1.92
-0.09
SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB SYMBOL FBB22 BFHB
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.22 100.53 99.98 100.00 100.00 100.00 100.00 100.00 100.98 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.29 99.98 91.00 90.95 89.02 89.62 89.00 90.24 90.73
MUTUAL FUNDS 52WK HI 2.50 4.67 2.20 207.86 207.68 1.72 1.83 1.81 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89
52WK LOW 2.11 3.30 1.68 164.74 116.70 1.68 1.73 1.75 1.01 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FL BGRS67023 BGRS FL BGRS70022 BGRS FL BGRS78024 BGRS FX BGR125238 BGRS FX BGR127139 BGRS FX BGR127149 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150
BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS670233 BSBGRS700220 BSBGRS780248 BSBGR1252380 BSBGR1271398 BSBGR1271497 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504
LAST CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.90 2.66 7.16 13.00 2.37 10.13 12.29 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.06 100.53 99.98 100.00 100.00 100.00 89.62 100.00 100.00 100.00
CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.60 2.66 7.16 13.00 2.30 10.13 12.32 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
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
VOLUME
1,045
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00 100.00
CHANGE 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.06 100.53 99.98 100.00 100.00 100.00 89.62 100.00 100.00 100.00
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 0.00 0.00 0.00
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F
MARKET TERMS
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.30) 0.00 0.00 0.00 (0.07) 0.00 0.03 0.00 0.00 0.00 0.00 0.00
(242) 323‐2330 (242) 323‐2320 EPS$ 0.239 0.932 0.000 0.140 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
VOLUME
DIV$ 0.170 1.260 0.020 0.080 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.63% 4.50% 4.50% 5.00% 5.00% 5.50% 5.55% 5.60% 5.65% 5.69%
NAV 2.50 4.67 2.20 204.67 199.97 1.72 1.83 1.81 1.01 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89
YTD% 12 MTH% 0.34% 4.30% -0.06% 5.21% 0.21% 2.72% 1.37% 3.18% 8.18% 14.94% 0.26% 2.76% 0.36% 2.37% 0.28% 2.51% -1.31% -3.43% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%
P/E 22.2 42.9 N/M 16.5 N/M N/M 25.1 -7.5 54.3 14.5 15.9 18.0 22.5 21.7 19.1 14.8 18.4 19.7 10.6 24.6 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
YIELD 3.21% 3.15% 0.98% 3.46% 0.00% 0.00% 2.81% 0.00% 0.00% 4.51% 3.07% 5.54% 18.87% 0.59% 2.66% 2.23% 3.60% 3.01% 2.00% 3.94% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%
MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 8-Apr-2023 29-Jul-2022 22-Sep-2024 15-Oct-2038 15-Jan-2039 15-Jan-2049 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050
NAV Date 31-Jan-2022 31-Jan-2022 28-Jan-2022 30-Sep-2021 30-Sep-2021 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021
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 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as "multiple shocks" compound troubles for people and for businesses. Oil prices have been hovering around $100 a
to non-performing loans moved lower by 1.9 percentage points to 95.3 percent. However, provisions to arrears rose by four percentage points to 70.2 percent, while the coverage ratio of specific provisions to non-accruals fell by 1.9 percentage points to 74.2 percent,” it added. “During the month of February, banks wroteoff an estimated $5.7m in bad loans and recovered approximately $4.2m.” barrel, a hardship for many countries that depend on imports of oil and gas. U.S. crude climbed $1.20 to $104.48 per barrel early Tuesday in electronic trading on the New York Stock Exchange. Brent was up $1.33 at $108.86 per barrel. The price of U.S. benchmark crude jumped 4% on Monday and Brent crude, the standard for international pricing, rose 3%.
NOTICE NOTICE is hereby given that HERNANDO MANUEL GOMEZ of South Beach, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE NOTICE is hereby given that GODDAY OKHUELEIGBE of P. O. Box EE-15137, #6 Domingo Heights, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 5th day of April, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE NOTICE is hereby given that JOSÉ LUIS HERNANDEZ of South Beach, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that GRICELLE LADRON DE-GUEVARA ALVARADO of P. O. Box N-472, Bethel Avenue, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of March, 2022 to the Minister responsible for nationality and Citizenship, P. O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE NOTICE is hereby given that SIDRICKA SEVERE of Rock Crusher Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 5th day of April, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.