04282021 BUSINESS

business@tribunemedia.net

WEDNESDAY, APRIL 28, 2021

$4.86 New association to tackle demand for $2m coverage

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A NEW association of shore excursion/experience providers will tackle the cruise industry’s $2m liability insurance requirement as a key priority, a tourism executive has revealed.

Janet Johnson, the Tourism Development Corporation’s chief executive, told Tribune Business that all the legal documents to facilitate the Bahamas Association of Shore Experiences’ creation are in place ahead of a formal annual general meeting (AGM) that will be held “within the next month”.

That will formally launch the association following the election of its officers, with Ms Johnson revealing that its creation has been driven by the industry’s belief that it is not attracting sufficient attention and support from the government and others.

“We’ve got all the legal documents done, and are ready to put on an annual general meeting,” she said.

“It’s really for the entrepreneurs. We found that, during the pandemic, prior to July 1 last year the water sports operators didn’t feel they were getting the necessary attention they ought to have.

“They didn’t have a voice. This was already in the works. This will be the umbrella organisation for the experiences. On the various chats I manage on What’s App, people said we need this, we need to organise it. I said it’s done.

The Tourism Development Corporation has done all the legal work, and they’ve got the Articles of Association.

“We’re about to have the AGM and select the officers.

We’ve put together a letter to go out to everyone asking them to stand for leadership if they feel so inclined and to determine the date. It’s coming out within the next month.”

It is unclear whether the new association will have any relationship with the recently-formed Bahamas Excursion Operators Association, which appears to be focused on representing companies from a similar - if not the same - market.

Ms Johnson, meanwhile, said the Tourism Development Corporation will follow the Small Business Development Centre (SBDC) in exploring how it can make general liability insurance more affordable for Bahamian tour, shore and experience providers and thus enable them to meet the $2m benchmark set by the likes of Royal Caribbean.

Elisa Shen, Royal Caribbean’s vice-president of onboard revenue and gaming, conceded during Monday’s webinar with local firms on the contracts potentially on offer from its Nassau home porting that there are concerns among Bahamian small and medium-sized enterprises that the cruise line sets the threshold too high in terms of its requirements for companies to do business with it.

In particular, Royal Caribbean requires tour providers to obtain $2m in general liability insurance. Ms Shen conceded: “We have our requirements. We do have challenges with engaging smaller operators because of our requirements. I wouldn’t say our requirements are too high; we know that’s one way to look at it..... It is a barrier to small businesses and we are committed to resolving it. It won’t be resolved overnight.”

She urged all parties to come up with “a better way

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Super Value to ‘terminate’ if COVID rules disobeyed

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

S

UPER Value has warned its 1,000strong workforce they “will face termination” if caught disobeying COVID-19 protocols, its principal warning yesterday: “We cannot go back into lockdown.”

Rupert Roberts told Tribune Business that “business is bad enough without any further hiccups” as he and other private sector leaders voiced growing alarm about a surge in COVID-19 cases they fear is reaching levels where it is “out of control”.

While all agreed that health, and saving lives, comes before the economy, Mr Roberts warned that the potential reimposition of restrictive measures employed last year to suppress the pandemic will only result in “further unemployment” among a workforce where a

SIR FRANKLYN WILSON

significant percentage - possibly 20-30 percent or even higher - are still jobless or on furlough.

He spoke out after the Ministry of Health yesterday disclosed that a further 63 new COVID-19 cases have been confirmed, including 51 in New Providence and 11 in Grand Bahama. This added to the 50 cases detected on

Monday, and another 158 recorded between Friday last week and Sunday, taking the total for the fiveday period to 271.

With 613 COVID-19 cases said to be active, the so-called “third wave” as described by public health officials is again slowly but steadily increasing the pressure on The Bahamas’ hospital system. However,

TWIN sisters have been given permission by the Supreme Court to enter a default judgment against a Bahamian attorney whose “negligence” cost them their Harmony Hill condominium.

Justice Indra Charles, deftly describing the dispute involving Petrona and Petula Russell as “an unfortunate case”, found that Anthony Thompson who they hired to represent them in selling the property - had no “genuine answer” or defence to their claims for breach of contract and breach of fiduciary duty.

In a scathing April 26, 2021, verdict, she struck out Mr Thompson’s draft defence as “scandalous, frivolous and vexatious”, finding that it was “no more than a vexatious and oppressive attempt by him to use the court’s machinery

SEE PAGE 2

SEE PAGE 7

SEE PAGE 6

• Judge blasts ‘scandalous’ draft defence • Never disclosed representing buyer too • Sisters get default judgment go-ahead for an improper purpose”.

And, for good measure, Justice Charles made a similar finding against Cleopatra Thompson, the buyer of the Russells’ condominium, who defaulted on both the purchase price and mortgage repayments to FirstCaribbean International Bank (Bahamas) despite having taken possession of the property in May 2017.

Justice Charles’ judgment did not say if Mr Thompson and the purchaser are related by family, even though they share the exact same surname, and Tribune Business inquiries on the issue yesterday proved fruitless.

However, Ms Thompson’s draft defence did admit that the attorney who

shared her name failed to inform the Russell sisters that he was also acting for the buyer, meaning that he was representing both parties in the same transaction and opening up the possibility for conflicts of interest to arrive.

The sisters, who had acquired their condo at Harmony Hill’s Country Club Estates in 2011 via a 25-year FirstCaribbean mortgage, hired Mr Thompson to represent them in selling the property after they were both accepted to attend Saint Mary’s University in Halifax, Canada, in November 2015.

Justice Charles noted that they discussed with Mr Thompson, whose law firm bears his name, “the prospects of selling the Property

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

prior to their relocation”. In particular, the twins sought legal advice as to whether they would be able to recover the equity value they had “injected into the mortgage”.

After agreeing to help with the sale, there was a “verbal retainer agreement” that Mr Thompson would market the condo, deal with all buyer inquiries, liaise with the bank and also sell the sisters’ furniture. To ensure the mortgage remained in good standing after they left for Canada in August 2016, the Russells’ made several months worth of payments to cover the rest of that year.

Mr Thompson, on April

while 52 patients are hospitalised, just three of those are in intensive care.

The outbreak prompted Super Value to do its part to head-off new health-related restrictions. In an “urgent warning to staff”, dated April 22 and bearing the name of Debra Symonette, Super Value’s president, the 13-store chain - which also trades under the Quality Supermarkets brand - warned workers about the penalty for “deliberately” failing to follow the mandated health protocols.

Listing these as social distancing, mask wearing, washing hands and avoiding unnecessary travel, the note told staff: “We are in the third wave of the pandemic,

Attorney’s ‘negligence’ cost twins their home

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BPC dismisses investor’s exit as old news THE Bahamas Petroleum Company (BPC) yesterday dismissed environmental activist joy over an investor’s divestment of an £11.25m stake in the firm as old news.

The oil explorer, in a statement to Tribune Business responding to reports that Lombard Odier has exited its holdings in the company, said the move will not impact the financing for its development and exploration plans in Trinidad & Tobago and elsewhere.

“BPC is not reliant on funding from Lombard Odier for any part of its forward investment programme in activities anywhere in its portfolio, spanning not only exploration in The Bahamas but onshore production, appraisal, development and exploration in Trinidad, an extended well test and subsequent production onshore Suriname and exploration offshore Uruguay,” BPC said.

“The Lombard Odier facility provided capital that contributed to BPC operating, drilling and safely completing the Perseverance One project nearly three months ago. As part of that facility, Lombard Odier temporarily owned BPC shares. At no time were Lombard Odier a part of the ‘project’. As far as BPC is aware, Lombard Odier has already disposed of its entire interest in the company.”

Oil exploration opponents, though, were elated at developments. Casuarina McKinney-Lambert, executive director of the Bahamas Reef Environment Educational Foundation (BREEF), told Tribune Business: “It’s very clear that the world is shifting away from fossil fuels so it’s not surprising that funding for this industry is drying up.

“Renewable energy is a future for The Bahamas that actually creates jobs.

Financing for fossil fuel exploration is becoming increasingly difficult to find, especially in new pristine locations around the world such as The Bahamas. Oil

• Supermarket chief: ‘We can’t go back to lockdown’ • Bahamas ‘at risk of losing last 12 months’ progress’ • Infection ‘explosion’ follows ‘very brutal’ early 2021

RUPERT ROBERTS

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‘Nothing to fear for compliant licensees’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS-based securities dealers that meet existing requirements will all meet the Securities Commission’s enhanced capital adequacy rules, regulators revealed yesterday.

Christina Rolle, the Securities Commission’s executive director, told an industry briefing that developing regulatory capital rules for the financial services industry’s broker/ dealer and investment advisory sector had been “a long outstanding matter” that had failed to keep pace with its increasing complexity.

With base or “fixed floor” capital requirements set to double for some elements of this segment, Ms Rolle said the regulator had sought to combine the existing “net capital rule” - which dates back to 1999 and the last century with the Basel capital rules employed by the banking and trust company segment.

As a result, the Securities Commission is proposing that all its broker/dealer

• Broker/dealers under-capitalised may be ‘more exposed’ • Commission: Rules to address ‘long outstanding matter’ • Plans to expand concept to funds, corporate services

CHRISTINA ROLLE and investment advisory registrants ensure their adjusted net liquid assets be “no less” than 120 percent of their so-called financial resources requirements “at all times”.

This 120 percent ratio will act as the so-called “trigger”, with 110 percent acting as the “minimum” licensees cannot slip below.

Breaching these benchmarks will trigger potential Securities Commission enforcement action, which will increase in severity

according to the depth and length of the violation.

Ms Rolle added that the regulatory capital rules concept, once finalised and implemented, will also be extended to other sectors it regulates such as investment funds and financial and corporate services providers.

Acknowledging that upgrading the regulatory capital rules had been discussed prior to her appointment, and ever since the Securities Industries Act was reformed in 2011, the Securities Commission chief said regulators had first explored adapting the banking industry’s Basel rules to suit broker/dealers and investment advisers.

“We found those rules too complex for our registrants and licensees,” she explained. “In the 1999 Act, the solvency rules were based on the net capital rule. But since 1999 and

2011, our market has grown in size and complexity, and a firm’s capital requirements are not aligned with a firm’s risk.

“That does not necessarily mean there’s a capital inadequacy as a result. It means we cannot be confident that a firm’s measure of risk is appropriate, and all liabilities are included. The commission is empowered to monitor the solvency of licensees and take action to protect clients where solvency is in doubt.”

Besides consulting local industry practitioners, Ms Rolle said the Securities Commission also benchmarked the proposed Securities Industry (Financial Resources) Rules 2021 against capital requirements imposed by other international financial centres (IFCs) such as the Cayman Islands, Jersey, the Isle of Man, Hong Kong,

Cyprus, Ireland, Dubai and Singapore.

Explaining that these were chosen because of their similarities to The Bahamas’ financial services industry, and the interaction between regulator and private sector, Ms Rolle said broker/dealers and investment advisors already compliant with existing regulatory capital requirements will have nothing to fear from the new proposals.

Referring to a survey analysis performed by the Securities Commission, she said: “We found all the licensees currently meeting their regulatory capital will continue to meet their regulatory capital under these rules. Those licensees that are deficient in regulatory capital, these rules will expose that and possibly to a greater extent than the net capital rule.”

Ms Rolle added that the Securities Industry (Financial Resources) Rules 2021 are “a hybrid” between the old “net capital rule”, dating from 1999,

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PAGE 2, Wednesday, April 28, 2021

THE TRIBUNE

RENEWABLES KEY TO POST DORIAN ENERGY REBUILDING A MULTI-million dollar initiative to build renewables into a more resilient energy infrastructure for Grand Bahama and Abaco post-Dorian will be discussed at a two-day conference that starts tomorrow.

The Grand Bahama Business Outlook conference will discuss energy security and transformation in relation to the recovery efforts on both islands. With financing from the InterAmerican Development Bank (IDB), the Ministry of Finance has begun work on an initiative that will overhaul and replace Dorian-damaged energy infrastructure through the use of renewable sources.

“Approaching this project has meant that we rethink the way we have done energy in the country,” explained Stanford Moss of

STANFORD MOSS, left, programme co-ordinator, for the Reconstruction with resilience in the energy sector in The Bahamas project. Dr Malaika Masson, right, senior regional energy specialist at the Inter-American Development Bank (IDB).

Advancing Renewables in The Bahamas (ARB), project manager of the Ministry of Finance’s Reconstruction with resilience in the energy sector in The Bahamas (RRESB) project.

“It requires changes to the original designs, which

we found did not have the necessary redundancies.

What we have done instead is employed new thinking, new designs and new strategies which now allow duplication and provide an alternative energy source in the event of recurring

natural disasters.”

During a recent visit to Grand Bahama, Mr Moss and his team scouted elevated locations that will become the sites for hybrid microgrids and renewable energy systems in the island’s east.

These systems, once fully installed, will improve power restoration timeframes. Mr Moss will lead panel discussions surrounding these projects, their impact, and The Bahamas’ future in renewable energy during Friday’s virtual Grand Bahama Business Outlook session.

“When IDB and the Ministry of Finance started this project, our focus had initially been Abaco and eastern Grand Bahama, which received significant damage as a result of the storm,” explained Mr Moss. “But we are also

using renewable energy in Nassau. Bidding on these projects has just started and the contract signings will be announced in late May.” The introduction of renewable technologies and strategies is projected to have a far-reaching socio-economic and environmental impact on The Bahamas’ energy sector moving forward.

Besides improving hurricane resilience and protecting the environment, the project will also facilitate workforce training, providing new areas of employment and economic growth.

It is also designed to provide significant energy bill reductions for residents as well. Mr Moss will focus on ARB’s transmission and distribution improvement in Abaco during the Business Outlook.

“Through engagement and collaboration with the Grand Bahama Port Authority and the Grand Bahama Power Company, who have already made significant investments in the east with 180 mile per hour (mph) resitant poles and a dual circuit system, this means when we install our resilience grids we will tie into GB Power Company, giving east end homeowners power security like never before,” he said.

Mr Moss will be joined in the panel by other IDB and ARB team members.

“What we have learned from Dorian is that we have to be proactive and consistent in our efforts to build resistance and sustainability in the sector. The overall investment is significant but necessary as we continue to develop as a country,” he added.

Attorney’s ‘negligence’ cost twins their home FROM PAGE ONE 2017, advised the duo that Cleopatra Thompson had emerged as a potential purchaser and proposed that the deal be structured as an “equity of redemption” transaction. This required Cleopatra Thompson to pay the twins $14,000 for the equity they had builtup, and to take over the mortgage payments to FirstCaribbean.

The $14,000, guaranteed by a promissory note, was to be paid in monthly installments and completed within six months. The Russells accepted the offer, but Justice Charles said the promissory note drawn up

by Mr Thompson “did not satisfy the requirements of the Bill of Exchange Act 1882” because it contained no start or completion date or the amount of the installment payment.

Problems began from mid-2017 onwards, when

the Russells complained about the absence of a payment schedule and sought an update from Mr Thompson on the payments that should have been received from the buyer.

Mr Thompson promised on January 12, 2018, that the buyer will pay “the outstanding mortgage next week, and payments will also be made to reduce your balance”. The twins then urged him, in February and March 2018, to initiate legal proceedings against Cleopatra Thompson for default and non-payment in his role as their attorney, but Mr Thompson took no action.

“To cut a long story short, the mortgage installments were not paid on time. In fact, only two payments were made,” Justice Charles wrote. “In July 2018, the bank stepped in as the mortgage repayments were 480 days past due. Vacant possession

proceedings had begun.

“The bank informed the plaintiffs that it was not aware of the conveyance, nor did it recognise such a sale of the bank’s assets. In August 2018, the plaintiffs [the Russells] agreed to give the bank vacant possession to avoid proceedings being commenced against them by the bank. The plaintiffs were forced to turn over the property to the bank.

“The second defendant [Cleopatra Thompson] failed to provide consideration for the purchase of the equity of redemption, and breached the obligation to pay notwithstanding that she had been in possession of the property since May 2017.”

Armed with the Lennox Paton law firm as their new attorneys, the twins launched legal proceedings against both Mr Thompson and the buyer. Both sought an extension of time to file their defences, which the

sisters resisted while urging that they be thrown out because they disclosed “no reasonable cause of action”.

Justice Charles elected not to dismiss Mr Thompson’s defence for its failure to comply with Supreme Court rules, as the attorney “insisted” there was never an agreement or retainer for him to provide legal services to the Russells over the transaction.

She, though, found that there were multiple documents to support that there was “an implied retainer” in effect, including a letter from Mr Thompson to FirstCaribbean on his firm’s letterhead saying he had been “instructed” by the twins. He also submitted the conveyance for the transaction to the Registry of Records.

The Russells’ new attorneys argued that it was “beyond doubt” that Mr Thompson had been hired by them, and that his

defence was “just a tactic to delay the inevitable” a finding with which the judge agreed.

“I therefore agree with the plaintiffs that the application of the first defendant is no more than a vexatious and oppressive attempt by him to use the court’s machinery for an improper purpose,” Justice Charles found of Mr Thompson.

“Applying the law to the pleadings and evidence (documentary) presented thus far, I find that the draft defence of the first defendant discloses no reasonable cause of defence, is scandalous, frivolous and vexatious, and it may prejudice, embarrass and delay the fair trial of the action and is otherwise an abuse of the process of the court.

“Also, in my judgment, the draft defence of the first defendant has no reasonable chance of success and ought to be struck out.” Mr Thompson is no stranger

to controversy surrounding real estate deals, having played a key role in the Oceania Heights debacle in Exuma, where he acted for a developer who ultimately had his permanent residency revoked after a series of Tribune Business revelations.

Justice Charles, meanwhile, also reached a similar conclusion regarding Cleopatra Thompson’s defence, finding she had admitted to defaulting on the mortgage. Her defence, too, was thrown out and the Russells given permission to bring a default judgment that will likely seek thousands of dollars in compensation.

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THE TRIBUNE

Wednesday, April 28, 2021, PAGE 3

REALTORS SEEK ‘RIGHT MARKET’ VIA AUCTION HOUSE PARTNER BAHAMIAN realtors are continuing to partner with international auction houses in an effort to “reach the right market” for private islands and highend homes.

“It’s not the selling that is a challenge, it’s reaching the right market to sell to,” says Tim Rodland, a partner in Better Homes & Gardens MCR Bahamas. “You need to reach property connoisseurs scattered around the globe who have the financial wherewithal to afford exactly what they want for a personal residence or for investment.”

Mr Rodland said, amid COVID-19, such buyers are seeking a safe retreat in a politically and financially stable country where a laid-back lifestyle is fine, so long as it is accompanied by fast Internet speeds and airport runways are in close proximity.

After signing the listing agreement for the 293-acre Powell Cay in Abaco, which has more than 22,140 linear

CAZA AZUL, EXUMA feet of white sand beach, he called on Concierge Auctions to partner with him in the sales effort.

Just 13 years-old, Concierge is said to control 90 percent of the high-end residential auction market.

It is active in 29 countries, and is becoming increasingly involved with high-end real estate listings in The Bahamas. Most sales take place within 30 to 45 days of the contract signing and, once bidding opens, prices heat up for five to seven days before the

auction is closed.

While Mr Rodland called Concierge in for Powell Cay, fellow realtor John Christie also teamed with the company for his listing of a nearly $7m estate called Casa Azul on Exuma.

“This estate has everything someone who dreams of living on the oceanfront, with all the luxury imaginable including their own stone-line lagoon pool, could want,” said Mr Christie.

The 7,000 square foot residence features five

‘Nothing to fear for compliant licensees’ FROM PAGE ONE and the Basel requirements.

“It sifts out a lot of the complexity, and ensures clients are sufficiently protected.

“In a nutshell, what’s happening with these rules is that a licensee/registrant is required to keep capital of 120 percent of adjusted net liquid assets.... If you fall below the 120 percent trigger ratio, the commission will develop policies for enforcement measures to be taken to protect clients of licensees.”

To minimise bureaucracy and red tape, Ms Rolle said Securities Commission licensees who are regulated by the Central Bank in their capacity as banks and trust companies will not be required to make capital adequacy reports to the former regulator.

“The Central Bank, being a prudential regulator, keeps their hands on the solvency of their licensees,” Ms Rolle said. “We don’t find the need to duplicate

or upload more requirements on what is already required.”

Still, the base or “fixed floor capital” required by broker/dealers involved in just arranging securities deals or managing securities is set to double from the existing $25,000 to $50,000 under the new rules.

Broker/dealers dealing in securities as a principal, or as an agent, will see their respective base requirements rise from $300,000 and $120,000 to $325,000 and $175,000, respectively.

Describing the rules as “a first step” in addressing regulatory capital adequacy, Ms Rolle added: “It’s forcing the licensee to look at their business with a more critical eye and make decisions with a more critical eye.

“The next step is to also produce Financial Resources Rules for licensees under the Investments Fund Act. Essentially it’s the same thing required; to maintain a certain level of

capital. That only impacts fund administrators.

“We’ll also produce those rules for licensees under the Financial and Corporate Services Providers Act who, going forward, will be required to maintain a certain level of capital adequacy. We haven’t determined who those licensees will be, but those whose activities fall under financial services will be required to maintain a certain level of capital.”

POWELL CAY, THE ABACOS over-sized bedrooms and five-and-a-half baths, and has never been offered for sale before. The asking price is $6.75m with a $3.4m reserve.

“Casa Azul is sprawled across two lots at the very pinnacle of Emerald Bay,” said Mr Christie. “It’s sure to draw great interest. It boasts its own expansive terraces that overlook the Greg Norman-designed

18-hole championship golf course.

“It has a great room with a cathedral ceiling for entertaining; a gourmet kitchen; a large guest cottage. You could live there forever and never tire of the views. Coffee in the morning as you watch the sun rise over the turquoise sea, and enjoy evening cocktails watching that same sun, worn out from

warming you all day, slip beneath the horizon. It’s a magical place.”

Both Casa Azul and Powell Cay in the Abacos open for bidding on May 7. Both close one week later.

“Both of these properties, the ready-to-move-into Casa Azul, fully furnished, and Powell Cay, on which you design and build your own perfect world, are extraordinary listings,” says Concierge Auctions director of business development, Danny Prell.

“The Bahamas is considered relatively COVID-free, and I am excited about bringing these properties to market with our database of 600,000 high net worth individuals including our special 10,000 property connoisseurs, including 60 billionaires.”

PAGE 6, Wednesday, April 28, 2021

THE TRIBUNE

Super Value to ‘terminate’ if COVID rules disobeyed FROM PAGE ONE

and are at risk of losing the progress that we have made over the past ten to 12 months.

“Any employee caught deliberately disobeying protocol, resulting in sickness or death to family members, co-workers or the community will face termination.... If uncontrolled, the virus will create mass unemployment and destroy our economy.”

The Super Value memorandum said public health officials believed “the increase in community spread is the result of people carelessly letting their guard down” and travelling abroad.

Encouraging staff to become vaccinated, and help The Bahamas achieve “herd immunity” by having 70 percent of its population inoculated, it added that persons who take the vaccine were 83 percent less likely to catch COVID-19 and, if they did, symptoms will be mild.

Explaining that Super Value was trying to drive home the message that “the job and the life you save may be your own”, Mr Roberts described it as “a severe warning” but argued that it was necessary because “this latest uncontrolled outbreak is very serious for the country’s health and that of the economy”.

“We look like we’re

NOTICE NOTICE is hereby given that WREBENE ANTOINE, of #63 Brighton Drive, Regency Park II, North Bahamia Freeport, Grand Bahama 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 21st day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that MERKYWOLF JEAN LOUIS, of Dundas Town, Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that MONICA GEORGE PAUL, of Sunrise Road, 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 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that GINA BLAISE, of Joe Farrington Road, 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 21st day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

running parallel to India,” he argued. “It’s growing out of control, and we warned the staff it was from personal contact. Personally, I think it’s people clubbing.” Media headlines yesterday detailed how the Royal Bahamas Police Force (RBPF) shut down a Sunday night party, said to have attracted 300 persons, and issued a $92,000 fine to the organisers.

Mr Roberts, meanwhile, voiced concern that government ministers and public health officials “don’t seem to be saying parallel things” over the latest COVID-19 outbreak. He added that the officials appeared to be more concerned, and several have privately voiced to this newspaper their doubts about allowing fully vaccinated visitors to enter The Bahamas without a negative COVID test from May 1.

Asked whether he feared the reimposition of more restrictive measures, including possibly the lockdowns seen last year, the Super Value chief replied: “All I can say is: I hope not. If they don’t bring this under control, it’s going to close the economy back down.

“We cannot go back into a lockdown. That wouldn’t work for businesses. I’m not putting the economy over the medical, as the medical always has to be first.

We’ve done what we’re supposed to do, and I hope we don’t lose what ground we’ve gained and the lessons learned, and we can move ahead and squash this increasing number of cases, go on to attract tourists and open businesses.”

While taking some comfort from the fact both the prime minister and Renward Wells, minister of health, have indicated that the government is not presently considering a lockdown, Mr Roberts added that “anything could change” especially since he saw little action yet from the government to control the latest COVID surge.

“Business is bad enough without any further hiccups,” he told Tribune Business. “We cannot do what business we did last year. We cannot allow it to get any worse. I hate to say any deterioration could result in further unemployment, but that’s a fact.

“What we’re trying to do with that warning to staff is say that they can contribute to the spread and bring it to their business and bring it home to their families. This is the message we are trying to get across.”

Sir Franklyn Wilson, the Sunshine Holdings and Arawak Homes chairman, echoed Mr Roberts by warning that any new lockdowns or severe restrictions to curb COVID-19’s spread would be “so devastating” for businesses and the wider economy given signs that the tourism industry is continuing its slow but steady recovery.

Warning that such a revival could be shut-off by the current infection wave, he said: “The explosion, and I don’t think that is too aggressive a term, in the number of cases is very concerning. I just pray that somehow there can be an increased level of discipline in our society if they

NOTICE NOTICE is hereby given that MISE-ANSIE MATHURIN, of Bamboo Crest, Golden Gates 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 21st day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that LENORA LORFILS LOUISUIUS, of 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 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that ADNOT LOUIS , of KennedySub-Division, 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 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that ALEN SIMON, of Homestead Street, 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 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

think that is part of the problem....

“I just appeal to everyone to stay the course a little longer. We just need to be a little more patient. In terms of the prospect of shutting down the economy, it would be so devastating. That’s a very tough call for policymakers to shut down the economy again. That would be really problematic.

“I think the government is doing everything it can to resist that, and I think they’re to be commended.

We’re only just climbing out. For businesses with which I’m involved, January was really, really brutal for a lot of companies; very, very brutal. February was sort of a bit less brutal, and then for April, with the numbers by and large in, the signs are it’s turning around. To interrupt that now would be really, really problematic.”

Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, yesterday called on the government to extend New Providence’s curfew from its present 10pm start to an earlier 8pm launch as a means to curb the weekend partying and socialising that many believe is leading to COVID-19’s rapid spread.

“I’m fearful about another lockdown,” he told Tribune Business. “Business is bad enough as it is, and it

would probably impact staff considerably because we’ve done all we can do as for as supporting them in past lockdowns. I don’t know what we can do further.

“It will have a serious impact on the economy; it doesn’t take a rocket scientist to figure that out. As much as I think the government doesn’t want to do it, I think they’re going to have to do it.....I have no reservations if the prime minister and government say we’ve got to tighten up, allow people to do the necessities of life, but as far as partying and carrying on, it is what it is.”

Mr Albury agreed that health considerations must take priority, adding: “If you’ve got your health, you’ve got your wealth.

We’ve got to look out for the health.” He added that, when he took this newspaper’s call, he was in a Family Island restaurant where only himself and the staff were wearing masks. The other 50 patrons were not.

To advertise in The Tribune, contact 502-2394

NOTICE NOTICE is hereby given that CLAUDINE BRAVE, of Treasure Cay,Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 21st day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that SHANTIA LILDIA ELIDOR, of #77 Greenway Courty, South Bahamia 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 28th day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that LYNDEN MARCELLUS RAMSEY, of #183 Market Street , 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 21st day of April 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

EMERA INCORPORATED (“Emera”) Notice to Holders of Depositary Receipts DIVIDEND NOTICE A dividend of CAD $0.159375 per Emera depositary receipt (CAD $0.6375 per common share of Emera) will be payable on or about May 17, 2021 to depositary receipt holders of record as at May 3, 2021. Dividends will be subject to applicable withholding tax.

THE TRIBUNE

Wednesday, April 28, 2021, PAGE 7

BPC dismisses investor’s exit as old news FROM PAGE ONE drilling in the Bahamas contradicts our own climate commitments under the Paris agreement....

“There is an opportunity for The Bahamas to send a strong message now that we also take our future seriously. There is no good reason that were are aware of to renew the [BPC] oil exploration licences.”

The developments come as BPC revealed it will “relinquish” 50 percent of the area where it was previously allowed to explore for oil as part of its licence renewal bid.

The oil exploration outfit, in disclosing plans to rename itself Challenger Energy Group and recapitalise by raising a further $9.67m from existing “qualifying shareholders” via a rights issue, confirmed it had submitted formal notice of its licence renewal application to the Ministry of the Environment and Housing.

Indicating that the area given up was largely “shallower water depths” where the prospects of striking commercial oil quantities are less, BPC said: “The company will seek to renew

its 100 percent interest in the southern licences by extending the licences in to the third exploration period.

“The third exploration period for the southern licences would last for three years and will require a further exploration well to be drilled before the period expires, failing which the licences would be forfeited.

An extension of the licences will attract an annual licence fee (the amount to be determined during the renewal process) and requires a relinquishment of 50 percent of the licence area.

“Notification of renewal of the licences has been submitted to the appropriate ministry, and the area to be relinquished has been identified as being the area equivalent to that over the shallower water depths covered by the southern licences (less than around 200 feet).”

BPC had until end-March 2021 to signal whether it will seek to renew its oil exploration licences, with the existing ones set to expire at end-June this year following the drilling of its first Perseverance One exploratory well, which failed to detect the commercial oil quantities it was seeking.

INTERNATIONAL BUSINESS COMPANIES ACT, 2000 CHUBURNA LTD. In Voluntary Liquidation

The name switch to Challenger, which reflects the fact the company is no longer Bahamas-centric given its obtaining of offshore exploration licences in Uruguay, and the acquisition that has given it assets in Trinidad & Tobago and Suriname, comes as Simon Potter steps down as chief executive although he will remain on the Board as a non-executive director.

He will be replaced as chief executive by Eytan Uliel, the company’s commercial director, while Ross McDonald, the former Bahamas chief for Royal Bank of Canada (RBC), is also leaving the Board.

James Smith, the former Central Bank governor and minister of state for finance, remains as a non-executive deputy chairman.

to do business”. Davinia Blair, the Small Business Development Centre’s executive director, said the agency has worked with Tristar Insurance Agents & Brokers to create a group policy “for more affordable liability insurance”.

“We’ve created a group insurance programme for contracts like this,” she added.

LEGAL NOTICE

SPARROW OFFSHORE INVESTMENTS LTD.

To advertise in The Tribune, contact 502-2394

NOTICE IS HEREBY GIVEN as follows: (a) SPARROW OFFSHORE INVESTMENTS LTD. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 15th day of April, 2021 when its Articles of Dissolution were submitted to and registered by the Registrar General.

PUBLIC NOTICE

(c) The Liquidator of the said Company is Mr. Eduardo Ojea Quintana of Av del Libertador 602, 4th Floor, City of Buenos Aires, Argentina.

The Public is hereby advised that I, DAMIEN MERVIN FOX of P.O. Box CB 12072, #2 Churchill Drive, New Providence, The Bahamas, intend to change my name to DAMIEN MERVIN FOX GIBSON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, N.P., Bahamas no later than thirty (30) days after the date of publication of this notice.

Mr. Eduardo Ojea Quintana Liquidator for the above-named Company

LEGAL NOTICE

LEGAL NOTICE

SPARROW OFFSHORE CAPITAL LTD.

Tansy Holdings Ltd

NOTICE IS HEREBY GIVEN as follows:

(In Voluntary Liquidation) Company No. (1878404)

The date of commencement of the dissolution was the 22nd day of April A.D., 2021.

Michael C. Miller Liquidator

FROM PAGE ONE

INTENT TO CHANGE NAME BY DEED POLL

NOTICE is hereby given that in accordance with Section 138(4) of The International Business Companies Act, 2000, CHUBURNA LTD. is in dissolution.

Mr. Michael C. Miller, P.O. Box EE-17971, Nassau, Bahamas is the liquidator of Chuburna Ltd.

Documents relating to the rights offering indicate that BPC has yet to settle licence fees the government believes are outstanding from its second exploration period that includes the spudding of Perseverance One. They also further indicate that the company is unlikely to drill another exploratory well in The Bahamas unless it secures a joint venture partner to share the financial and technical load.

New association to tackle demand for $2m coverage

(a) SPARROW OFFSHORE CAPITAL LTD. is in dissolution under the provisions of the International Business Companies Act 2000.

NOTICE is hereby given pursuant to Section 204, subsection (1)(b) of the BVI Business Companies Act, 2004 that the Company is in voluntary liquidation. The voluntary liquidation commenced on 12th April, 2021. The Liquidator is Robert Edwards of Talstrasse 82, 8001 Zurich, Switzerland.

(b) The dissolution of the said Company commenced on the 15th day of April, 2021 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Mr. Eduardo Ojea Quintana of Av del Libertador 602, 4th Floor, City of Buenos Aires, Argentina.

Dated 12th April, 2021

Mr. Eduardo Ojea Quintana

(Sgd.) Robert Edwards Voluntary Liquidator

Liquidator for the above-named Company

MARKET REPORT www.bisxbahamas.com

TUESDAY, 27 APRIL 2021

BISX ALL SHARE INDEX:

CLOSE

CHANGE

1950.57

0.17

%CHANGE

YTD

YTD%

0.01 -141.89

-6.78

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

BISX LISTED & TRADED SECURITIES

LEGAL NOTICE

NOTICE

ESTEY INTERNATIONAL LTD. Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration Number 167693 B (Dissolved)

Notice is hereby given that the above-named Company was dissolved and was struck from the Register of Companies on the 23rd day of March, 2021.

52WK HI 5.15 33.05 1.50 2.90 1.89 6.00 6.96 3.60 6.01 4.05 6.16 12.00 2.75 7.00 10.71 9.00 14.60 4.25 8.97 16.00

52WK LOW 3.13 22.65 1.46 1.62 1.50 5.00 6.00 2.70 4.25 2.75 5.00 9.75 2.10 4.90 9.50 8.00 13.00 3.42 8.15 15.20

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

LAST CLOSE 5.00 32.12 1.50 2.71 1.59 6.00 6.96 3.53 4.30 2.90 5.67 9.75 2.43 7.00 11.22 9.00 14.00 3.99 8.35 15.50

CLOSE 5.05 32.12 1.50 2.71 1.59 6.00 6.96 3.53 4.30 2.90 5.67 9.75 2.38 7.00 11.20 9.00 14.00 3.99 8.35 15.50

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS780222 BSBGRS760240 BSBGRS870288

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.65 100.00 100.86

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.65 100.00 100.86

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.00 100.50 100.66

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.97 100.66

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

Dated this 28th day of April, 2021.

Richard L. Broughton Liquidator

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 BSBGRS780222 BGRS FL BSBGRS760240 BGRS FL BSBGR870288

CHANGE 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.05) 0.00 (0.02) 0.00 0.00 0.00 0.00 0.00

VOLUME 5,000 50

2,155

4,470

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 21.1 34.5 N/M N/M N/M N/M 18.9 -8.1 30.7 15.8 12.6 13.5 23.3 15.0 17.3 12.4 17.2 19.7 8.9 24.6

YIELD 3.37% 3.92% 1.33% 1.11% 0.00% 0.00% 3.74% 0.00% 0.00% 4.14% 3.88% 7.38% 18.24% 0.86% 2.93% 2.67% 3.86% 3.01% 2.40% 3.94%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.44% 4.50% 4.33%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 22-Sep-2022 18-Jan-2024 26-Apr-2028

MATURITY

MUTUAL FUNDS

LEGAL NOTICE

NOTICE DENISTON INVESTMENTS LIMITED Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration Number 63897 B (Dissolved)

52WK HI 2.40 4.44 2.15 201.90 184.85 1.69 1.83 1.78 1.24 8.49 10.26 7.28 13.91 12.84 10.81 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.67 1.73 1.75 1.03 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.40 4.44 2.15 201.90 184.85 1.69 1.75 1.75 1.03 8.49 10.03 7.28 13.91 12.84 10.05 N/A 10.43 14.89

YTD% 12 MTH% 0.38% 4.56% 0.04% 1.37% 0.20% 2.56% 3.47% 3.47% 10.86% 10.86% 0.72% 0.80% -2.20% -1.87% -0.37% 0.01% -2.48% -11.52% 1.76% 1.76% -1.97% -1.97% 4.91% 4.91% 5.28% 15.75% 0.05% 3.96% -0.35% -6.34% N/A N/A 3.00% 25.60% 7.90% 48.70%

NAV Date

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

MARKET TERMS

Notice is hereby given that the above-named Company was dissolved and was struck from the Register of Companies on the 31st day of March, 2021.

Richard L. Broughton Liquidator

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

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings

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

THE TRIBUNE

Wednesday, April 28, 2021, PAGE 9

PAGE 10, Wednesday, April 28, 2021

THE TRIBUNE

BIDEN RELEASES MONEY IN PUSH TO MODERNISE US ELECTRIC GRID NEW YORK Associated Press

THE federal government said yesterday it is making more than $8bn available to build and improve the nation’s transmission lines as part of its efforts to improve America’s aging electric grid and meet President Joe Biden’s ambitious cleanenergy goals.

The administration is also pledging to speed up a sluggish permitting process that has delayed the types of major transmission projects that are crucial to meeting Biden’s goals.

The president has said he wants the nation to produce

100% clean energy by 2035.

But that goal faces massive hurdles. Those include an electric grid that has been pummeled by climate change and which needs enormous expansion to carry electricity from renewable energy sources to densely populated regions.

The Department of Energy said it will release $8.25bn in loans for developers to improve the grid’s ability to carry renewable energy from the windy, sunny plains to the regions that need it most.

“These investments will make our power system more resilient against threats and more reliable as we increase our clean energy capacity, creating thousands of jobs

in the process,” said Energy Secretary Jennifer Granholm, in a statement.

There will be $3.25bn in loans available for projects that unlock renewable energy in the Western US. Another $5bn in loans will support transmission projects owned by federally recognised tribes and Alaska Native Corporations, including transmission to connect offshore wind.

The Department of Transportation will help speed the siting and permitting of transmission projects by facilitating the use of public highways and other transportation rights-of-way, Transportation Secretary Pete Buttigieg said. It will also issue guidance that will

help states build renewable energy projects and transmission lines.

Winning the necessary approvals to build major transmission projects that cross state lines frequently takes a decade or more, and that’s before construction begins.

The administration’s actions are a “giant first step” toward building the grid of the future, said Larry Gasteiger, executive director of WIRES, a transmission industry trade group. “It is unprecedented to have an administration so actively support needed transmission development across so many of its agencies,” he said.

The need for more solar,

wind and wires to carry the electricity to homes under Biden’s plan is extraordinary.

The group Americans for a Clean Energy Grid, a nonprofit organisation dedicated to modernising and expanding North America’s high voltage grid, released a report Tuesday listing 22 shovel-ready transmission project that could boost the use of wind and solar energy and generate 1.2 million jobs. It would cost $33bn to build those transmission lines, the group said.

If all 22 projects were completed, the 8000 miles (13,000kilometers) of wires could enable a 50% increase in the amount of wind and solar energy on the US grid. But those 22 projects represent

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 84° F/29° C Low: 67° F/19° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

A stray t‑shower; breezy

A shower; breezy in the evening

Mostly sunny and still breezy

Sunny and pleasant

Mostly sunny and pleasant

Some sun with a t‑storm possible

High: 83°

Low: 73°

High: 85° Low: 73°

High: 86° Low: 73°

High: 85° Low: 71°

High: 84° Low: 72°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

89° F

73° F

92°-74° F

94°-76° F

94°-74° F

93°-74° F

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

N

almanac

E

ABACO

S

N

High: 79° F/26° C Low: 74° F/23° C

10‑20 knots

S

High: 84° F/29° C Low: 75° F/24° C

10‑20 knots

FT. LAUDERDALE

FREEPORT

High: 83° F/28° C Low: 76° F/24° C

E S

E

W

WEST PALM BEACH

W

uV inDex toDay

THURSDAY

W

N

| Go to AccuWeather.com

TONIGHT

High: 86° F/30° C Low: 72° F/22° C

High: 82° F/28° C Low: 72° F/22° C

MIAMI

High: 84° F/29° C Low: 76° F/24° C

10‑20 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 69° F/21° C Normal high ....................................... 82° F/28° C Normal low ........................................ 70° F/21° C Last year’s high ................................. 87° F/30° C Last year’s low ................................... 77° F/25° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ................................................. 3.25” Normal year to date ..................................... 6.01”

ELEUTHERA

NASSAU

High: 83° F/29° C Low: 73° F/23° C

Forecasts and graphics provided by AccuWeather, Inc. ©2021

High: 82° F/28° C Low: 75° F/24° C

N

KEY WEST

High: 85° F/29° C Low: 79° F/26° C

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

9:24 a.m.

9:54 p.m.

2.8 3.6

3:30 a.m. ‑0.8 3:32 p.m. ‑0.9

Thursday

10:16 a.m.

10:47 p.m.

2.7 3.5

4:23 a.m. ‑0.7 4:23 p.m. ‑0.8

Friday

11:10 a.m.

11:42 p.m.

2.6 3.3

5:18 a.m. ‑0.5 5:16 p.m. ‑0.6

Saturday

12:08 p.m. ‑‑‑‑‑

2.4 ‑‑‑‑‑

6:16 a.m. ‑0.3 6:14 p.m. ‑0.3

Sunday

12:41 a.m.

1:11 p.m.

3.1 2.3

7:17 a.m. ‑0.1 7:17 p.m. 0.0

Monday

1:44 a.m.

2:19 p.m.

2.9 2.2

8:21 a.m.

8:25 p.m.

0.1 0.2

Tuesday

2:49 a.m.

3:27 p.m.

2.7 2.2

9:25 a.m.

9:34 p.m.

0.2 0.3

sun anD moon Sunrise Sunset

High: 82° F/28° C Low: 75° F/24° C

N

S

E

W

10‑20 knots

S

10‑20 knots

ANDROS

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

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

6:36 a.m.

7:39 p.m.

Moonrise Moonset

9:43 p.m.

7:50 a.m.

Last

New

First

Full

May 3

May 11

May 19

May 26

CAT ISLAND

E

W

just 10% of the transmission investment needed to completely decarbonise the power sector, the group said.

“People think that it’s actually not possible and that we as a country can’t get this done, but many of these projects have been underway for more than a decade, most of them are permitted,” said Michael Skelly, founder of Grid United, and co-author of the report, in a conference call yesterday.

If those projects succeed, that will beget more success, he said. “They can be underway in the next 12 to 36 months if we can just get a little bit of a push to get these projects over the top.”

SAN SALVADOR

GREAT EXUMA

High: 82° F/28° C Low: 75° F/24° C

High: 83° F/28° C Low: 77° F/25° C

N

High: 83° F/28° C Low: 76° F/24° C

E

W S

LONG ISLAND

tracking map

High: 83° F/28° C Low: 75° F/24° C

10‑20 knots

MAYAGUANA High: 83° F/28° C Low: 76° F/24° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 82° F/28° C Low: 77° F/25° C

H H

High: 83° F/28° C Low: 76° F/24° C

GREAT INAGUA High: 86° F/30° C Low: 77° F/25° C

N

E

W

E

W

N

S

S

12‑25 knots

12‑25 knots

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

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS E at 10‑20 Knots SE at 8‑16 Knots E at 10‑20 Knots SE at 10‑20 Knots E at 10‑20 Knots ESE at 10‑20 Knots E at 12‑25 Knots E at 12‑25 Knots E at 10‑20 Knots ESE at 10‑20 Knots E at 10‑20 Knots SSE at 8‑16 Knots E at 10‑20 Knots ESE at 10‑20 Knots E at 12‑25 Knots E at 12‑25 Knots E at 10‑20 Knots ESE at 10‑20 Knots E at 12‑25 Knots E at 10‑20 Knots E at 12‑25 Knots ESE at 10‑20 Knots E at 12‑25 Knots ESE at 10‑20 Knots E at 10‑20 Knots ESE at 10‑20 Knots

WAVES 2‑4 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 3‑5 Feet 3‑5 Feet 3‑5 Feet 2‑4 Feet 3‑5 Feet 3‑4 Feet 1‑3 Feet 1‑3 Feet 2‑3 Feet 1‑3 Feet 3‑5 Feet 3‑5 Feet 3‑5 Feet 3‑5 Feet 3‑6 Feet 3‑5 Feet 2‑3 Feet 1‑3 Feet 2‑4 Feet 2‑3 Feet 3‑6 Feet 3‑5 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 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 6 Miles 10 Miles 6 Miles 10 Miles

WATER TEMPS. 76° F 77° F 81° F 81° F 81° F 81° F 81° F 80° F 77° F 77° F 77° F 76° F 81° F 78° F 81° F 81° F 81° F 79° F 84° F 82° F 79° F 78° F 80° F 80° F 78° F 78° F