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VOLUME:117 No.115, MAY 11, 2020
THE PEOPLE’S PAPER: $1
INSIGHT: ABACO NEEDS LEADERSHIP, NOT PROMISES
HO US E & 12 PAGES
‘NOBODY WILL GO HUNGRY’ PM’s promise as he warns ‘tough decisions’ ahead By RASHAD ROLLE Tribune Senior Reporter rrolle@tribunemedia.net PRIME Minister Dr Hubert Minnis said the 2020/2021 Budget his government will issue this month will reflect decisions Bahamians will find painful as COVID-19 and the response to the virus causes the unemployment rate to skyrocket and tax revenues to plummet.
Applications to the National Insurance Board show more than 25,000 people have been laid off or lost their income, he said. “This number will likely increase,” Dr Minnis said, adding that “the unemployment rate in the near term will likely exceed an unprecedented and extraordinary 30 percent.” SEE PAGE THREE
HOW WAS INFECTED ABLE TO FLY HOME? By RASHAD ROLLE Tribune Senior Reporter rrolle@tribunemedia.net PRIME Minister Dr Hubert Minnis said a person who tested positive for COVID-19 was among the 183 residents who returned to the country on Friday, prompting a suspension of repatriation
exercises. His revelation during a national address yesterday came as the country went without an additional confirmed COVID-19 case for the fourth consecutive day. It has been the policy of the government not to let people who test positive SEE PAGE THREE
THREE Bahamian nationals arriving in New Providence on Friday.
Photo: Kemuel Stubbs/BIS
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COVID-19 LATEST NEWS • Minnis tested ‘negative’ for virus • Web shops ordered ‘close up’ • Six others given okay for entry • Super Value we’ve 100 jobs to fill • Fourth day with no new cases • ‘Our flight back to Nassau’
GLOBAL PORTS GUARANTEES CAPITAL Don’t By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
NASSAU Cruise Ports’ ultimate parent has pledged to “guarantee” the success of its $130m bond issue by covering any capital shortfall that may exist when the offering closes at the end of this week. Mehmet Kutman, Global Ports Holding’s chairman, said he will “chip in the difference” should investor demand be insufficient
CHAIRMAN: Mehmet Kutman to raise the full amount. Promising that he would not allow Prince George
Wharf’s planned $250m redevelopment to be delayed by financing needs, Mr Kutman said he was still “fairly comfortable” that the bond will be oversubscribed after 50 percent was raised during the first week. He spoke out after Anthony Ferguson, principal of CFAL, the bond’s lead placement agent, revealed that some investment houses had reacted coolly to the bond offering. FULL STORY - SEE BUSINESS
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