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WEDNESDAY, MAY 13, 2020

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JEFFREY BECKLES

COVID-19 makes BPL’s reliability ‘far more critical’ By NEIL HARTNELL and YOURI KEMP Tribune Business Reporters THE Chamber of Commerce’s chief executive yesterday said the COVID19 pandemic has made it “even more critical” that Bahamas Power & Light (BPL) provides stable energy supply. Speaking in the wake of yesterday’s island-wide outage on New Providence, Jeffrey Beckles said the increased number of persons working remotely or studying at home meant reliable electricity had become more important than ever. “With the backdrop we’re currently in, power is even more important,” he told Tribune Business. “It’s even more critical we have this. Everything - work, school and entertainment is at home.” Meanwhile, senior private executives said they will be unable to deal with a repeat of last summer’s rolling blackouts by BPL given the COVID-19 restrictions imposed on much of the Bahamian economy. Brent Burrows, general manager of CBS Bahamas (Commonwealth Building Supplies), said: “After BPL has spent up all of that money on those generators, I really hope not. I don’t know what the situation is but I hope it is something simple and not a reflection of what will happen in the summer.” “Our country really wouldn’t be able to handle it after all of this COVID19. Our power has not come back yet and we are still on generator. I hope this is something simple and not anything we are going to be seeing all summer.” BPL, in its official statement, said the outage happened as it tried to “isolate the circuit” at the Skyline substation that feeds the old Gladstone Road facility. It was doing this so that it could tie in the new substation at Gladstone and Fire Trail Roads, but a “short” occurred in BPL’s systems as it attempted to do this, plunging New Providence into a blackout lasting at least several hours. Dwayne Higgs, WHIM Automotive’s general manager, said: “We haven’t really noticed it because we have a generator here. It was a big investment, so that was a big plus for us. But business here hasn’t had any interruption. “We have a 72 KW (kilowatt) generator and we got it before we added on and renovated. We are comfortable with what we have, and it can run the building. I saw the power dip off and after about 15 seconds our generator came on.” Mr Higgs added that he “hopes” this is not a foreshadowing of the summer to come for BPL, and added: “I am not sure what is causing it now. We have seemed to have a pretty good run without any power issues and the cost for fuel is pretty low, so I could not tell you what is going on.”

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‘We’ll never let cruise lines bypass Nassau’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HE government will use “whatever means are necessary” to ensure the cruise industry does not bypass Nassau and other “major population centres” post-COVID-19, a Cabinet minister pledged yesterday. Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the government simply “won’t allow the multibillion dollar industry to exclude the Bahamian capital and other major islands from its voyage itineraries once it resumes sailing in the pandemic’s aftermath. Throwing his and the government’s support behind Nassau Cruise Port’s ongoing $130m bond offering, Mr D’Aguilar sought to reassure potential investors

DIONISIO D’AGUILAR that Prince George Wharf is guaranteed to receive millions of passengers per year from cruise ship calls that will not slack-off in frequency. “I want to emphasise that we will nudge and encourage the cruise companies to visit

NORMAN’S Cay homeowners and the Bahamian aviation industry yesterday blasted the “outrageous” fees imposed by the island’s private airport operator in a bid to recover some of its $10m investment in the facility. Tribune Business was told that Exuma Resort Developers Ltd, which is aiming to create a high-end marina and tourism destination on the island, had suddenly imposed some of the highest landing and parking/ ramp fees seen at any airport in The Bahamas. Multiple sources voiced particular concern that the move from zero to around $200-$230 per landing would make it prohibitively expensive for aircraft to use the Norman’s Cay airstrip and drive potential traffic away. They added that this

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• Seeking to recoup $10m Norman’s Cay outlay • Fears ‘gateway’ to northern Exumas impeded • Minister awaits Heads of Agreement details was especially problematic given that Norman’s Cay acts as the gateway to all other islands in the northern Exumas chain, with the airstrip supposed to be available to all aircraft and flights despite its private ownership and management. One aviation source, speaking to Tribune Business on condition of anonymity, replied: “I almost choked on my grapefruit” when informed of the landing fee now being charged at Norman’s Cay. By comparison, landing fees for smaller aircraft at Lynden Pindling International Airport (LPIA), such as Piper Aztecs, were in the $19 to $35 range. And, at Ocean Reef airport, a private facility in

Florida, landing fees range from $28 to $59 for the same aircraft. The source questioned whether the scale of the Norman’s Cay fees was intended to “dissuade” persons from landing at the airport, although they conceded “there’s no denying” the developer had invested heavily in upgrading the runway and associated facilities. Exuma Resort Developers also appears to have been less than fully transparent about the new landing fee schedule, having informed Norman’s Cay’s homeowners in a recent letter that these will not be provided by e-mail. Instead, they have to call a cell phone number to obtain the necessary information. The letter, written by

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Matt Tabrizi, who appears to be leading Exuma Resort Developers’ efforts on behalf of Miami-based Fort Partners, its major shareholder, told the island’s homeowners that the fees were necessary to both recover the developer’s investment and fund ongoing maintenance and operational costs at the airport. “As you may know, Exuma Resort Developers has invested in excess of $10m building and maintaining our airport,” Mr Tabrizi wrote. “To recuperate some of its expenditure and continue maintaining and operating our airport, Exuma Resort Developers has implemented fees which

“The government recognises population centres are where most economic impact is to be had, so if the cruise companies come to The Bahamas they are going to be nudged by whatever means are necessary to visit the major population centres and create economic impact. “Ever since this government took office it’s been approving projects in population centres and not private islands.” Besides the Carnival and Royal Caribbean/ITM projects in Freeport, Mr D’Aguilar also pointed to Disney Cruise Line’s Lighthouse Point development - and the

Developer slammed on ‘outrageous’ airport fees By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Communications sector rebounds from 5-year low THE Bahamian electronic communications industry recovered from a five-year low in 2018 to grow its total revenues by three percent to $390m in 2019, sector regulators have revealed. The Utilities Regulation and Competition Authority (URCA), in its 2019 annual report and draft plan for this year, said industry innovation will continue to drive economic growth and consumer satisfaction for years to come. Pointing to the still-growing mobile market amid fierce competition involving the Bahamas Telecommunications Company (BTC) and Aliv, URCA said: “The total number of mobile voice subscribers in 2019 increased by 36,800 on the 2018 total (388,707), and explained the corresponding increase in the penetration rate from 100.47 in 2018 to 108.75 in 2019. “Mobile data subscribers grew from 314,419 in 2018 to 362,3033 in 2019. The mobile data penetration rate also saw growth from 81.27 to 92.60.” There was less explosive growth in the broadband Internet market, where “the number of fixed broadband subscribers increased from 81,208 to 82,295. Consequently, the fixed broadband penetration rate also increased from 20.99 to 21.03 in 2019”. The more mature segments of the electronic communications market, namely pay-TV and fixedline voice services, both suffered a decline in 2019. “Cable Bahamas and BTC pay TV services are available to residential, business and on-the-go TV services through mobile cellular devices,” URCA added. “There are currently 66,188 Pay TV subscribers in The Bahamas, representing a 9 percent decrease on the 2018 figure of 72,460. “It is assumed that as mobile services become more accessible and affordable, the demand for fixed telephone services will continue to decline. In 2019, fixed voice subscribers decreased to 91,129 versus 113,455 in 2018. Evidently,

• Govt will use ‘whatever means necessary’ • Minister reassures ‘gun shy’ port investors • Says Grand Lucayan deal remains ‘alive’ our major population cities on their itineraries,” he told this newspaper, adamantly asserting that the prospect of vessels bypassing Nassau to call exclusively at their Bahamian private islands was virtually non-existent. “I think that won’t happen for two reasons,” Mr D’Aguilar said. “First and foremost, the Government won’t allow that to happen. Then there are 118 cruise ships under construction, so the industry is looking for ports. When you have so much additional capacity - I don’t know how much of that is underway, and how much is still a dream and subject to being cancelled - there is a substantial demand for ports.

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BPL outage ‘once in a blue mood event’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMAS Power & Light’s (BPL) island-wide blackout was caused by a “once in a blue moon” event, a Cabinet minister said yesterday, adding that he was “more comfortable than I’ve ever been” about summer reliability. Desmond Bannister, minister of works, told Tribune Business that the outage that hit the whole of New Providence in early afternoon was caused by a system short that occurred at BPL’s Skyline location as it moved to tie a new substation at Gladstone and Fire Trail Road into its grid. Reassuring Bahamian businesses and consumers that the incident does not foreshadow a repeat of the blackout/load shedding marred summer 2019, Mr Bannister said any concerns for the upcoming peak demand period related more to BPL’s transmission and distribution (T&D) infrastructure than its generation capabilities given the addition of the seven

• Minister ‘more comfortable than ever’ on summer • Still concerns over transmission & distribution • ‘Praying’ utility can still exploit global oil price lows

DESMOND BANNISTER Wartsila and one General Electric (GE) engines. The minister added that he was “praying” BPL can still exploit still-low global oil prices to bring some relief to customers hit by the COVID-19 pandemic. Both the West Texas Intermediate (WTI) and Brent Crude indices were trading above $25 per barrel as Tribune Business went to press last night, but Mr

Bannister said the Minnis Cabinet has authorised BPL and the Ministry of Finance to discuss how much financial support the latter can give. Speaking to yesterday’s island-wide outage, Mr Bannister said: “What happened is that BPL has a new substation with respect to their summer readiness initiative at Gladstone and Fire Trail Roads. They were

transferring from the old sub-station [Skyline] to the new one. “In the process, they had a challenge. Somebody did something they shouldn’t have done. That caused some kind of flash back in the system that took the whole system out..... It wasn’t a generation issue. It was an unfortunate incident, and I was more concerned about the safety of the people involved because someone could have been killed. Someone may have had a mental shock.” BPL, in its official statement, said the incident happened as it tried to “isolate the circuit” at the Skyline substation that feeds the old Gladstone Road facility before tying in the new one. A “short” occurred in BPL’s systems as it attempted to do this, plunging New Providence into a blackout lasting at

least several hours. “It was unexpected. It’s the kind of thing that happens when we’re dealing with the challenges we face,” Mr Bannister told Tribune Business. “I don’t expect to see this type of thing in the summer time. It’s the type of thing that happens once in a blue moon. “The only concern we have with the summer is transmission and distribution issues. We feel more comfortable going into the summer than we’ve ever been.” While BPL’s generation woes may have been sold by last year’s near-$130m investment, its aged T&D infrastructure remains vulnerable as $225m in financing that was anticipated to be raised through its rate reduction bond issue that has yet to be placed. Describing BPL’s revenue and financial position as “entirely unsatisfactory”, Mr Bannister said the utility had been given the go-ahead to enter talks with the Ministry of Finance to

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IFE is about perspective and so is business. There were various public comments denouncing the European Commission’s actions when it last week essentially “blacklisted” The Bahamas yet again. What appears to have concerned both public officials and private enterprise is the commission’s flagrant disregard for the impact of the COVID-19 pandemic. The pandemic has delayed the Financial Action Task Force’s (FATF) planned review of The Bahamas’ improvements to its anti-money laundering and counter-terror financing regime. This is especially relevant because The Bahamas was in an “exit process” that requires an FATF site visit, which has been delayed by COVID-19. Yet, the commission’s decision to blacklist this nation is largely based on it remaining under FATF scrutiny. While I have strong views regarding the apparent bullying tactics used by the Commission, the European Union’s (EU) civil service, and their infringement on our sovereignty under the guise of an EU action plan to prevent money laundering and terrorist financing, I would prefer risk and compliance professionals shift their focus to ensuring their internal due

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Focus on compliance, not Europe’s blacklist BY DEREK SMITH JR diligence and anti-money laundering programmes are robust. As the government navigates unprecedented economic and fiscal pressure, compliance professionals must ensure their programmes are strengthened during and after this pandemic. A compliance programme should be designed to adequately address the legislative environment in which the financial institution finds itself. I believe there are several factors that distinguish an “average” programme from a “robust” programme. Tone from the top (culture) Culture is at the core of the risk and compliance environment.

Scandals potentially lie around every corner in today’s environment. Maureen Mohlenkamp, principal with Deloitte Advisory, noted in a 2015 release: “Fundamentally, culture is about how things get done in an organisation. The power of culture can be

extraordinary.” Therefore, cultivating a value-based approach is needed during this pandemic and after as it will reinforce principles of integrity and ethics while completing tasks. Procedures and training Your suite of anti-money laundering compliance policies and procedures is extremely important. Reviewing them during this pandemic to ensure they remain appropriate, agile and adequate may be a good idea. Ensuring these documents are accessible to all employees, and easy to follow, will assist with adherence to them. Developing communications strategies around policies and procedures will help employee familiarity with the information. Training can take the form of virtual sessions considering the social distancing environment. Compliance professionals must also ensure training is targeted at the various levels in your company. Furthermore, training schedules should be designed for all facets of the institution. Assessment regime The anti-money laundering processes and procedures must, at a minimum, meet the respective guidelines of the jurisdiction in which your institution does business. Your money laundering and terrorist

financing assessment strategies will be pivotal when determining the potential risk to the institution and how the client should be treated throughout their relationship with you. Moreover, an adequately designed risk-based approach could lead to more efficient management of the customer on-boarding process. Chief compliance officer (CCO) Sourcing for this position should not be taken lightly. A chief compliance officer must have a combination of skills inclusive of expert knowledge of the regulatory environment, compliance analysis tools, and the ability to demand respect at all levels of the institution. The person selected is a powerful statement about the company’s commitment to ethics and compliance. Moreover, their placement in the company’s structure sends positive or negative signals to the regulator regarding the tone at the top. Testing and monitoring The COVID-19 pandemic has not halted the regulatory requirements to continuously monitor the risks associated with your business. Financial institutions should have independent evaluations and testing annually, and reports provided to

senior management and the audit committee on the effectiveness of the anti-money laundering compliance initiative. The internal monitoring of reports enables the quick identification of anti-money laundering violations, which allows for corrective action plans to be designed and implemented before the regulator arrives for their reviews. This pandemic period — though disruptive in numerous unanticipated ways— can be considered an opportunity or a threat. I encourage my colleagues to think positively and reflect upon their compliance programme, both as it operates now and how it can adapt in future uncertain times. NB: Derek Smith Jr is the compliance officer at a leading law firm in The Bahamas, and a former assistant vicepresident, compliance and money laundering reporting officer (MLRO), at an international private bank. His professional career started at a ‘Big Four’ accounting firm and has spanned over 15 years, including business risk management, compliance, internal audit, external audit and other accounting services. He is also a CAMS member of the Association of Certified Anti-Money Laundering Specialists (ACAMS).

Water Corp launches new Eleuthera plant THE Water & Sewerage Corporation (WSC) this week began water production at its newest reverse osmosis facility in North Eleuthera. Adrian Gibson, its executive chairman, said: “The corporation’s thrust remains the provisioning of safe and affordable water for Bahamians throughout the archipelago. We continue to strive to provide world-class service and seek to extend our supply to islands and communities that do not yet have piped potable water and/or sewer services.

“Over the weekend, and following inspections and sign-off, I directed the start up of the Bogue (North Eleuthera) facility. Sometime after 7am today (Monday), the new plant began producing water for thousands of residents in North Eleuthera (Upper Bogue, Lower Bogue, Current, Bluff), Harbour Island, Spanish Wells and Russell Island.” The multi-million dollar facility features a 650,000 imperial gallons per day reverse osmosis unit, with a fully automated system

GENERATORS installed at the new plant. and back-up generators. The plant will provide a sustainable and reliable supply of desalinated water for public consumption. The new facility in Eleuthera is the largest on the Family Islands, and third largest overall. It was

built by contractor, Suez/ Aqua Design. Mr Gibson said residents of North Eleuthera, Harbour Island, Spanish Wells and Russell Island will see a substantial improvement in their water supply over the coming days. The

REVERSE Osmosis equipment inside the plant building. new plant, coupled with nearly 30 other Water & Sewerage projects carried out on Eleuthera since 2017, is part of a major infrastructure upgrade and allows for the expansion of business and industry in North Eleuthera, Spanish

Wells, Harbour Island and Russell Island. “We look forward to formally commissioning the new plant upon the passage of COVID-19,” said Mr Gibson. “Water & Sewerage remains committed to quality and to growth.”

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Wednesday, May 13, 2020, PAGE 3

BPL invests $2m in Tourism awaits health back-up cooling plan ‘green light’ to re-open By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net BAHAMAS Power & Light (BPL) is investing $2m in a backup cooling system for its new Wartsila generation engines even though the cooling wells have been completed at the Clifton Pier power plant. Desmond Bannister, minister for works, said the government and BPL expected all seven engines “to be working properly” now that the cooling wells have been dug in time for the high-demand summer months and hurricane season. “We have also brought in a spare crew for Wartsila,” he added, “so with the coronavirus going around now, if anybody or any of

TAXI DRIVERS SEEK ‘SANITISATION BOOTH’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Bahamas Taxi Cab Union’s (BTCU) president yesterday called for the creation of “sanitisation booths” to ensure vehicles are sanitised after every fare once the economy is reopened after the COVID-19 lockdown. Wesley Ferguson told Tribune Business that the union and industry are “putting together a proposal”. He said: “We are putting some ideas together so we can put it all together as a group, because I am part of the sub-committee for travel, transportation and the orange economy [on the government’s economic recovery committee]. ‘We have had two Zoom meetings already. We are

the people down there at Clifton ends up getting coronavirus, we have a crew that will come in that will come to do the work. “So BPL is actively planning for the hurricane season; they are well ahead of their plans. Let’s pray that we don’t have a hurricane, but if we have one I am convinced they are very, very well ahead in what they have to do.” Tribune Business revealed in February that there were mounting concerns that the cooling wells for the Wartsila turbines may not be in place for summer as they had then reached just over 50 percent of the target depth on two of the four wells. Drill bits kept on breaking apart trying to achieve the necessary depth, prompting Mr

Bannister to say at the time that BPL would have to invest in an alternative radiator system. “BPL is going to have three different methods of cooling,” Mr Bannister said. “The cooling wells are one and, as all of you know, we have closed our eyes to ground pollution down at that area for decades. So, in addition to the cooling wells, they are bringing in these high-tech radiators that are going to cost maybe $1m or $2m to be able to put in. “That’s another cooling system that they have, and there is going to be another connection to another station. They are going to have a tremendous amount of redundancy on ensuring that those engines are cooled properly.”

still strategising how it will all make sense. I’m putting together thoughta and ideas for the transportation committee, and then we send it on to the chairman of the whole committee. That is Obie Ferguson, president of the Bahamas Trade Union Congress. We are trying put forward ideas to give the Government a road map from what we as union heads think they should implement.” Mr Ferguson said the “booths” will allow a taxi cab to be sanitised and inspected after every fare, along with the implementation of a sticker system so a taxi can be verified as having undergone this process. He added: “We also need a system to show that a driver is COVID-19 free, and some sort of rapid testing system to show the tourists that this driver is COVID-19 free. “We want to ensure for our tourists that they are driving around in a taxi that is clean of garbage, sanitised and the driver is in

full health. In hindsight, if the government had moved expeditiously on taxi plates when they first announced it in January, a lot of taxi drivers would have been in better shape. The vast majority of taxi drivers are leasing these plates. “The government wasted our time and money to license our cars not knowing the economy was going to shut down,” Mr Ferguson continued, “so we made a sacrifice. Some of these cars cost upwards of $600 to license. “But what has us in a bind is that if the owner asks for the plate back because there is no work for the taxi drivers, as in this countrywide lockdown, the taxi driver is out of money and there is no money being made to make that money back for him. If those plates were issued out a lot of the taxi drivers would have had their own plates and not be losing out on money, because the plates would have been theirs.”

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Bahamian tourism industry is awaiting the “green light” from the Ministry of Health on when it can re-open to foreign visitors, a Cabinet minister said yesterday. Dionisio D’Aguilar, pictured, minister of tourism and aviation, speaking outside the Cabinet Office said the sector has “some dates in mind” but declined to reveal them. “It is a function of how we’re doing or how we’re perceived to be doing on the ground from a health perspective,” he added. “So we’re working towards a re-opening and just waiting for the green light from the Ministry of Health that we are good to go. Obviously that’s going to be balanced with economic considerations. Those are very pressing as people are looking to be re-engaged and get back to work. These are all of the difficult decisions in this current environment of governance.” Numerous factors will influence when The Bahamas re-opens its borders and the resumption of international travel and tourism. The government to-date has been working on what lies within The Bahamas’ capacity to control, namely seeking to limit and, eventually, eliminate the spread of COVID-19 within this nation’s borders as a means to both save lives and prevent the health system from becoming over-stretched. However, in seeking to restart tourism, the country’s largest industry and foreign exchange earner, The Bahamas will have to ensure that both industry workers and visitors feel comfortable that all necessary health and safety precautions have been taken so there are no fears

about catching COVID-19 from one another. Temperature screening, frequent cleaning and sanitisation, social distancing, and health certificates showing the bearer is COVID-19 free could become commonplace in the tourism industry when it eventually re-opens. However, there are multiple factors outside The Bahamas’ control, not least the ability of major source markets such as the US, Canada and Europe to control their infection rates. The economic crisis produced by COVID-19 may hit vacation demand, too, due to lack of disposable income and reduced confidence among travellers. Several airlines have indicated their desire to resume international flights in mid to late-June, while Carnival Cruise Lines has indicated it plans to begin limited sailing on August 1. Bahamas Paradise Cruise Line plans to begin cruises in early June, along with Royal Caribbean Cruise, while Sandals has set an early July date for the opening of its Bahamian resorts. All such dates, though, appear more aspirational at this stage. Mr D’Aguilar said the government has yet to give approval for any cruise ship to resume sailing to The Bahamas, and said: “It is still a very much wait and see.” He added that the industry has “got bigger concerns than when The Bahamas government is going to approve them”.

“I think they have got to contend with the American government, and when they are going to give the green light to Americans to be able to get on cruise ships. So that, of course, is the biggest concern, and I don’t think that green light has been given yet, so let’s let them cross that hurdle and then we’ll approach our hurdle,” the minister added. “Our initial indication is that people want to travel, but you can’t negate the fact that unemployment in the US is now in excess of 30m. They are very much going through the throes of opening their economy and they are trying to navigate that process. “They are a little bit more open than other jurisdictions, so we have to come to grips with that, as 82 percent of our visitors come from the United States. So if we’re going to rebound we are going to have to rebound with Americans. We have to get comfortable with the way they are addressing this whole COVID-19 pandemic. “So it’s lots of pressing questions and lots of concerns, but I am confident that if there is a country that’s going to rebound it’s going to be The Bahamas, because we are wonderfully positioned next to the United States. They just have to get their economy back on track and that will reflect positively in The Bahamas.”

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Tourism in ‘advanced’ stage on recovery plan By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Bahamian tourism industry was yesterday said to have reached an “advanced stage” in crafting a plan for its recovery and market re-entry through a process involving multiple stakeholders. The Bahamas Hotel and Tourism Association (BHTA), in a statement issues yesterday, said itself and the Ministry of Tourism were working alongside numerous public and private sector partners to create a Bahamas tourism readiness and recovery plan for re-entry into the tourism market. The other groups involved include the Nassau/Paradise Island Promotion Board (NPIPB); Paradise Island Tourism Development Association (PITDA); Bahamas Out Islands Promotion Board (BOIPB); Grand Bahama Island Tourism Board (GBITB); Nassau Airport Development Company (NAD); Nassau Cruise

Ports; the Association of Bahamas Marinas; Hutchison Ports Bahamas and its affiliates and the Ministry of Health. The statement said: “This initiative has seen the engagement of a wide cross-section of stakeholders, which is integral to the composition of a comprehensive plan that will incorporate feedback, acumen and insight gleaned from owners, operators, employees, and government representatives from various businesses directly or indirectly linked to the tourism economy. “Sectors represented include airlines (commercial/private); points of entry (airports, fixed base operators, cruise ports, marinas) and tourism touchpoints within the destination: Taxi, tours, hotels (small, mid-sized, large,) vacation home rentals, retailers, the Straw Market, land and sea-based attractions, to name a few.” The BHTA added: “The purpose of the plan is to provide a road map for the government, and tourism

stakeholders, to use as a guide to ready themselves for the imminent re-opening of our internal and external borders to local and international travel, and to re-enter the tourism market in a strategic manner which considers health and safety pivotal to the sustained restoration of the Bahamian tourism economy. “In addition, the plan aims to provide external markets; travel industry partners; airlines; tour operators and on-sellers; and internal tourism stakeholders, owners and operators, and employees with the confidence and understanding that The Bahamas is deploying an approved, comprehensive strategy, aligned with regional and local standards and best practices, to re-open the destination, in a safe and healthy manner.” “Being visible, being accessible, and opening our economy in a safe and healthy manner is key to our ability to recover economically as a tourism destination,” said Carlton

Russell, the BHTA’s president. Vernice Walkine, the Nassau Airport Development Company’s president and chief executive, and Joy Jibrilu, the Ministry of Tourism’s director-general, added: “Having a plan in place is integral to our ability to retain the interest and engagement of our travel partners and potential visitors. “As a tourism-dependent destination our ability to propel ourselves to ‘top of mind’ amidst a cacophony of competitors, regional and international, each vying for the same depleted demand market is essential to the restoration of our tourism industry. Other regional tourism destinations are initiating their own tourism recovery plans. The Bahamas must be a forerunner in this effort’.” Stuart Bowe, senior vicepresident and general manager of hotel operations for Atlantis, and Robert Sands, senior vice-president of government and community relations at Baha

Mar, added: “As varying tourism engines have been on ‘idle’ since the closing of our borders due to the COVID-19 threat, advance planning is necessary to allow external and internal industry partners the opportunity to plan for reopening their businesses - from an operational perspective, as well as a sales, marketing and promotion perspective. Also, the new norm will require significant operational changes, such as installing health and safety signage, equipment, training of employees on best practices, sanitisation processes.” Mr Sands, told Tribune Business: “We are at an advanced stage of our work. We are beginning to edit and compile our report.” The BHTA statement, meanwhile, added: “The deployment of a tourism re-entry plan, which provides guidelines for health and safety protocols, not only allows tourism businesses to deploy approved health and safety standards which will, as best as possible, keep employees and

guests safe, it provides our target markets with a comfort level that The Bahamas is a safe and healthy destination. This is a baseline requirement for travel consideration. “The plan is comprised of reports from many subcommittees from the broad range of tourism sector groups, and is close to completion. It will be given to the government for it to provide support to public and private sector businesses, as the country looks toward reopening this critical economic sector. “The BHTA and the Ministry of Tourism would like to thank the core committee members, group leaders and sub-committee members, which are comprised of in excess of 100 public and private sector tourism stakeholders, for their contribution to this important body of work. The level of engagement and intensity of interest aptly showcases our ability to band together to get The Bahamas back to the business of tourism in a healthy, safe and sustainable manner.”

‘We’ll never let cruise lines bypass Nassau’ FROM PAGE ONE Mediterranean Shipping Company (MSC) and Virgin Cruises projects targeting Bimini - as evidence of this policy. The minister’s comments are designed to ease investor fears that the cruise lines

may elect to increasingly bypass Nassau in favour of the multi-billion dollar investments they have made in their private islands, such as Royal Caribbean’s ‘Perfect Day’ experience at Coco Cay in the Berry Islands, especially after losing out to Global Ports Holding in the bidding to transform

and operate Prince George Wharf. This, together with concerns over the timing and extent of any cruise industry rebound post-COVID-19, is thought to have given some potential investors and their advisers pause for thought as to whether they should buy into Nassau Cruise

Port’s $130m capital raising. “I just wanted to express the government’s support for what we feel will be an excellent project, an excellent investment,” Mr D’Aguilar added. “It may not seem so right now, but it’s amazing that our research is indicating a lot of people are interested in taking a cruise. It’s a very resilient industry despite the negative press swirling around it. What we’re hearing from our partners is that the industry remains very robust, and continues to be strong.” He added that this feedback was being provided to the Ministry of Tourism by the likes of online booking engines and travel agencies, which were all reporting that many persons scheduled to take a cruise during the COVID-19 pandemic had opted to defer their trip to a later date rather than cancel it outright. Mr D’Aguilar said it was not unusual for the government to give public backing to capital raisings by major infrastructure-type projects, saying it had done so with both the Nassau Airport Development Company’s (NAD) financing and the Arawak Port Development Company initial public offering (IPO) when public sector employees were enabled to buy shares via salary deductions.

“This is the third gateway project,” he told Tribune Business. “It’s an infrastructure project that, certainly on the other side of this COVID-19 pandemic, will result in a world-class cruise port which undergirds and underpins a critical component of our tourism industry. “It’s commenced construction and doesn’t require any government funding, which allows the government to divert scarce resources into other projects. It leverages our ability to do more and, at the end of the day, we will get a brand new cruise port and an infusion into the domestic economy through construction employment.” Mr D’Aguilar added that it should be “extremely encouraging” to potential investors in the $130m bond issue that Mehmet Kutman, Global Ports Holding’s chairman, had personally guaranteed to cover any shortfall should the full amount not be raised so that the development can proceed according to plan. “It’s extremely important that the necessary funds are raised to get this project underway, and I’m sure some investors may be a little gun shy given the current economic situation and the impact on the cruise industry,” he said. “I’m not worried, and I think as a segment of our tourism economy it will bounce back

fairly quickly over the next two years, and quicker than other destinations given our proximity to Miami, Fort Lauderdale and Port Canaveral.” Mr D’Aguilar said the government remained confident that the Royal Caribbean/ITM joint venture’s acquisition of the Grand Lucayan will move forward, albeit with delays, after it informed this newspaper that it had “secured the required liquidity” and was now in talks with potential lenders to raise the necessary financing. “No one has said that the projects have been cancelled,” he told Tribune Business, also referring to Carnival’s Freeport project. “Obviously we’re in a wait and see position. We are very encouraged by that, and certainly the Holistica (Royal Caribbean/ITM) deal seems to be moving forward, albeit with some understandable delays given the pandemic and difficulties in focusing on it with this distraction. The project is alive. “We definitely remain engaged, and are fully understanding of the conditions on the ground and what’s happening. We remain available to assist in any way to bring these projects to fruition and get them underway in the quickest possible time.”

To advertise in The Tribune, contact 502-2394 Legal Notice COMMONWEALTH OF THE BAHAMAS

2020/PRO/npr/

IN THE SUPREME COURT PROBATE DIVISION In the Estate of Neville Stephen Smith of #42 Incense Court, Eastwood Estates in the Eastern District of the Island of New Providence, in the City of Nassau, deceased. ___________________

NOTICE

__________________ NOTICE is hereby given that Alana Jeanice Smith of #42 Incense Court, Eastwood Estates in the Eastern District of the Island of New Providence, one of the islands of The Commonwealth of The Bahamas will make application to the Supreme Court of The Bahamas after the expiration of fourteen days from the date hereof, for a grant of letters of administration of the real and personal Estate of Neville Stephen Smith, in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.

THE TRIBUNE

Wednesday, May 13, 2020, PAGE 5

Developer slammed on ‘outrageous’ airport fees FROM PAGE ONE

went into effect on May 1, 2020.” While domestic and international aviation in The Bahamas is currently shutdown (with exceptions) due to the COVID-19 pandemic, Exuma Resort Developers is now levying parking fees of $45 for aircraft that are parked for between one to three hours, and $90 for planes left for a duration of four hours to one night. It has also introduced a three-tiered landing fee structure for small planes and helicopters; light jets weighing less than 50,000 pounds; and bigger jets over 50,000. Norman’s Cay homeowners, and a few select other persons, have been given a $100 discount around 50 percent - on their fees. “Norman’s Cay landing fees are not published and, as such, they cannot be listed here,” Mr Tabrizi wrote. “However, the landing fees are the same for everyone other than the discount provided within this document, and only vary by the categories mentioned. “To verbally obtain the landing fees, please contact MacDuff’s at..... Please not that MacDuff’s cannot provide rates by e-mail.” MacDuff’s may be the Norman’s Cay-based restaurant and cottages that share the same name. Exuma Resort Developers also has an NC MacDuffs Ltd affiliate, which was incorporated in 2012 as an International Business Company (IBC). While no discounts are being provided for the parking fees, Mr Tabrizi wrote

that the $100 reduction to homeowner landing levies will be reviewed every December by the developer. Other persons classified as “homeowners”, and thus eligible for the discount, include Mark Holowesko and Lester Smith, due to their development activities on nearby Highbourne Cay and Wax Cay, respectively. The letter laid out how discounts can be applied to charter flights carrying members of the homeowner’s family, staff, guests, tradesmen and cargo. E-mails seen by Tribune Business show the developers’ letter was distributed to Norman’s Cay homeowners by Gregory Cleare, the former senior partner at KPMG Bahamas who is now chief financial officer at Holowesko Partners. Mr Cleare, a director of Norman’s Cay Development Company, wrote: “In my discussions with them, I can inform you that Exuma Resort Developers management has been concerned to establish a fair and reasonable fee structure that is simple to administer. I believe you will find this to be the case when you consider the investment made by Exuma Resort Developers and the ongoing costs to maintain and manage the airport.” Mr Cleare, together with Mr Holowesko, is also part of a Bahamian investor group including R. James Cole, the Higgs & Kelly attorney and partner, and Martin Solomon, which had sought to partner with Exuma Resort Developers when the project was under previous ownership. They are now thought to be involved in their own

separate project. The Exuma Resort Developers’ letter, and Mr Cleare’s e-mail, have sparked a backlash from both Norman’s Cay homeowners and aviation industry executives. One homeowner, speaking on condition of anonymity, asked: “Is the runway a public government runway for all to use or is it private. I don’t see how it could be both and, no matter what, do the homeowners have a right to use it as we have for 50 years without fees? “Again, I’m not opposed to paying a minimal landing fee for maintaining the runway. We have given money more than once for maintaining the old runway. I can’t imagine the government allowing the runway to become private, as it serves the northern Exumas.” One aviation source, also wishing to remain anonymous, said: “The residents’ concerns are about the sudden imposition of outrageous landing and ramp fees on both residents and visitors alike. Such fees are unheard of in this country, and the conversion of a once public runway, being the lifeline to neighbouring Highbourne Cay, to a

now unaffordable (by most) private entity has created a disturbing scenario for charter services that need to land there and those of us who wish to visit.” They added that the greatest impact would be felt by persons seeking to use Norman’s Cay as the gateway to access the rest of Exuma, arguing that the new fees represented a significant additional cost facing the aviation industry and its passengers. “It’s just terrible to slap them with that kind of fee. It’s just not attainable or sustainable,” the source said. “Highbourne Cay relies on that runway, and staff that want to get in and out, their children that want to get in and out. These people are crippled by this. “We don’t mind paying a landing fee but make it reasonable. These fees don’t exist in this country because Bahamians cannot afford them. That’s why there’s such an uproar. There’s nowhere that charges such an amount of money. No one can afford that. That’s just outrageous.” Warning that the landing fees, in particular, could “cut off the gateway” to the northern Exumas, they added: “That’s the

conversation right there. There’s also a lot of people that like to fly to Norman’s Cay for lunch and give MacDuff’s business. They’re shooting themselves in the foot.” Captain Randy Butler, Sky Bahamas president and chief executive, told Tribune Business that the Norman’s Cay fee schedule was “crazy compared to other airports” in The Bahamas. “I hope the director-general of civil aviation [Captain Charles Beneby] and the minister take action right away,” he added. “This is the kind of thing that discourages people from coming to the islands.” Dionisio D’Aguilar, minister of tourism and aviation, told this newspaper he was aware of the controversy and had requested a copy of the project’s Heads of Agreement from the Bahamas Investment Authority (BIA) to determine if the developer was permitted to introduce such a fee schedule. Confirming that the Norman’s Cay airstrip is privately owned and managed, Mr D’Aguilar said it was nevertheless supposed to be open for public access given that it “supports the islands in the northern Exumas” by

LEGAL NOTICE

acting as the main gateway to those cays. While acknowledging that Exuma Resort Developers and its shareholders were entitled to seek a return on their investment, and recoup the millions spent on upgrading and revamping both the runway and associated facilities, he acknowledged that this needed to be balanced with ensuring access to the rest of the northern Exumas chain. “They’ve invested millions into that airport and runway” Mr D’Aguilar told Tribune Business. “They’ve extended the runway, repaved it and made it larger and wider, opening it up to bigger jets from further away. It’s understandable that having made that expenditure they want to recoup their costs but I’m not sure what their agreement allows them to do. It has to be open to the public to support the islands in the northern Exumas chain around Norman’s Cay.” Mr Tabrizi did not return Tribune Business’s message to his personal work e-mail seeking comment on the growing controversy last night.

LEGAL NOTICE

N O T I C E

GOTLAND SHIPPING (BAHAMAS) LTD

GOTLAND SHIPPING (BAHAMAS) LTD.

N O T I C E IS HEREBY GIVEN as follows: (a) GOTLAND SHIPPING (BAHAMAS) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 9th day of June, A.D., 2020. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

(b) The dissolution of the said Company commenced on the 7th day of May 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Ann-Marie Astrom, c/o Shirley House, 253 Shirley Street, Nassau, Bahamas

Dated the 13th day of May, A.D., 2020. Ann-Marie Astrom Liquidator c/o Shirley House 253 Shirley Street Nassau, Bahamas

Dated the 13th day of May, 2020 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

TUESDAY, 12 MAY 2020

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,141.79 | CHG: -0.90 | %CHG: -0.04 | YTD: -89.81 | YTD%: -4.02 BISX LISTED & TRADED SECURITIES

LEGAL NOTICE

N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION GABON (OFFSHORE) LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION AND PRODUCTION GABON (OFFSHORE) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 8th day of May 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Mario Pedercini, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 13th day of May, 2020 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company LEGAL NOTICE

N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION GABON (OFFSHORE) LIMITED Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 9th day of June, A.D., 2020. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

52WK HI 4.45 22.65 7.00 6.75 2.60 2.00 5.47 12.77 6.17 4.50 10.30 3.64 5.10 10.88 8.15 16.99 9.40 4.25 15.21

52WK LOW 3.35 20.91 5.50 5.39 1.78 0.67 2.00 10.21 5.60 3.62 5.41 2.53 1.85 8.00 6.63 13.04 6.98 3.14 13.90

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

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

1000.00 1000.00 1000.00 1000.00

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

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

1.00 10.00 1.00

1.00 10.00 0.90

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

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

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

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 2.99 11.26 6.00 4.03 6.01 2.86 5.10 9.70 8.15 14.50 8.97 4.05 15.20

CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 2.99 11.26 5.98 4.03 6.01 2.83 5.10 9.44 8.15 14.50 8.97 4.05 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.02 0.00 0.00 -0.03 0.00 -0.26 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.91

0.00 0.00 0.00 0.00 0.00 0.00 -0.09

CLOSE 100.00

CHANGE 0.00

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

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

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

VOLUME

1,672 3,200

96,200 VOLUME

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

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

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.8 15.6 13.3 21.9 42.9 27.7 10.9 14.6 11.2 17.8 9.6 20.0 24.1

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

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

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

YTD% 12 MTH% 0.37% 3.81% 0.24% 4.38% 0.23% 2.75% 5.76% 5.76% 12.81% 12.81% 0.94% 3.72% -3.46% 2.09% -0.11% 3.43% -3.33% 1.53% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% N/A N/A -10.90% -4.30% -18.80% -12.00%

NAV Date 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020

MUTUAL FUNDS 52WK HI 2.30 4.38 2.09 195.13 166.73 1.67 1.85 1.76 1.24 8.34 10.26 7.00 12.15 12.58 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.61 1.75 1.70 1.14 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.30 4.38 2.09 195.13 166.73 1.67 1.79 1.75 1.16 8.31 10.07 7.00 11.42 12.58 10.52 N/A 8.31 10.01

MARKET TERMS

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

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

Dated the 13th day of May, A.D., 2020. Mario Pedercini Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.68% 2.98% 0.00% 15.34% 1.18% 3.47% 2.94% 3.72% 2.23% 2.96% 4.01%

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

31-Mar-2020 31-Mar-2020 31-Mar-2020

THE TRIBUNE

BPL outage ‘once in a blue mood event’

FROM PAGE ONE

see how much financial assistance the latter can provide to enable it to exploit global oil prices via its oil purchases. “Cabinet has given them and the Ministry of Finance authorisation to discuss their challenges,” he added, “and we anticipate they’re

going to be able to make some accommodation. It’s going to be a matter of Finance and BPL getting together and putting figures together, and determining how much support they will get from the government, but the policy decision to assist by Cabinet has been made. “I’m just praying we are

fully able to take advantage of the situation before oil prices rise. It would be a wonderful advantage for all of us, and make you and me a lot happier when we get our bills. It will make a huge difference when we look at what we’re buying fuel at now. If BPL can tap into this market now that is going to be a win for us all.”

Communications sector rebounds from 5-year low FROM PAGE ONE this result produced a decrease in the penetration rate from 29.33 in 2018 to 23.29 in 2019.” URCA, though, had little doubt about the Bahamian electronic communications industry’s potential for future growth. “The electronic communications sector continues to revolutionise communication in The Bahamas and

throughout the world,” it added. “The rapidly evolving landscape of communication and technology continues to influence national and international commerce. Information communication technologies (ICTs) allow local businesses to effectively network and exchange products with global businesses while facilitating more efficient business exchanges throughout the country.

“Employees are no longer limited to working in one location, and interpersonal information sharing is more efficient with just a click of a button. With the further advancement of mobile technology such as fifthgeneration (5G), upload and download speeds are expected to increase exponentially, creating new experiences for consumers, businesses and, ultimately, the entire economy.”

To advertise in The Tribune, contact 502-2394

Wednesday, May 13, 2020, PAGE 7

SUPPORT THE BLOOD BANK

SAVE A LIFE GIVE THE GIFT OF

BLOOD

BECOME A REGULAR DONOR

1 PINT CAN SAVE 3 LIVES GIVE BLOOD - GIVE LIFE

SOME HELPFUL TIPS BEFORE YOU DONATE:

4 You must have eaten at least once for the day.

4 You need at least 30 minutes between your last meal and donating blood. 4 You will need at least 10 minutes rest after donating blood. 4 You can donate blood every 8 weeks.

4 The Blood Bank will do FREE Pre-screening tests to make sure you are healthy enough to donate blood.

BECOME A REGULAR DONOR

PLEASE ENCOURAGE YOUR COLLEAGUES TO SUPPORT THE BLOOD DRIVES

PAGE 8, Wednesday, May 13, 2020

THE TRIBUNE

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 85° F/29° C Low: 66° F/19° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

A couple of showers and a t‑storm

Cloudy with some rain and a t‑storm

Breezy with rain and a thunderstorm

Clouds and sun with a thunderstorm

Partly sunny with a thunderstorm

High: 83°

Low: 76°

High: 82° Low: 76°

High: 86° Low: 76°

High: 86° Low: 71°

AccuWeather RealFeel

86° F

74° F

84°-73° F

88°-77° F

95°-81° F

94°-74° F

High: 89° F/32° C Low: 68° F/20° C

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

almanac

ABACO

High: 79° F/26° C Low: 75° F/24° C

12‑25 knots

High: 82° F/28° C Low: 73° F/23° C

12‑25 knots

FT. LAUDERDALE

FREEPORT

High: 83° F/28° C Low: 72° F/22° C

W S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 82° F/28° C Low: 73° F/23° C

MIAMI

High: 84° F/29° C Low: 76° F/24° C

8‑16 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 74° F/23° C Normal high ....................................... 84° F/29° C Normal low ........................................ 71° F/22° C Last year’s high ................................. 84° F/29° C Last year’s low ................................... 75° F/24° C Precipitation As of 2 p.m. yesterday ................................. 0.16” Year to date ................................................. 7.99” Normal year to date ..................................... 7.15”

ELEUTHERA

NASSAU

High: 83° F/28° C Low: 76° F/24° C

High: 81° F/27° C Low: 75° F/24° C

KEY WEST

High: 83° F/28° C Low: 75° F/24° C

Low

Ht.(ft.)

Today

1:11 a.m. 1:44 p.m.

High

2.8 2.1

7:47 a.m. 7:47 p.m.

0.2 0.4

Thursday

2:08 a.m. 2:46 p.m.

2.6 2.1

8:44 a.m. 8:50 p.m.

0.3 0.6

Friday

3:06 a.m. 3:46 p.m.

2.5 2.2

9:40 a.m. 9:52 p.m.

0.4 0.6

Saturday

4:02 a.m. 4:40 p.m.

2.4 2.3

10:30 a.m. 0.4 10:50 p.m. 0.6

Sunday

4:53 a.m. 5:28 p.m.

2.3 2.4

11:15 a.m. 0.3 11:42 p.m. 0.5

Monday

5:40 a.m. 6:12 p.m.

2.3 2.5

11:56 a.m. 0.2 ‑‑‑‑‑ ‑‑‑‑‑

Tuesday

6:23 a.m. 6:52 p.m.

2.3 2.7

12:29 a.m. 0.4 12:35 p.m. 0.1

W S

10‑20 knots

Sunrise Sunset

6:26 a.m. 7:46 p.m.

Moonrise Moonset

1:10 a.m. 12:09 p.m.

Last

New

First

Full

May 14

May 22

May 29

Jun. 5

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 82° F/28° C Low: 76° F/24° C

High: 81° F/27° C Low: 77° F/25° C

High: 82° F/28° C Low: 76° F/24° C

W S

LONG ISLAND

tracking map

High: 81° F/27° C Low: 77° F/25° C

Ht.(ft.)

sun anD moon

High: 80° F/27° C Low: 75° F/24° C

10‑20 knots

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

tiDes For nassau

CAT ISLAND

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

10‑20 knots

MAYAGUANA High: 84° F/29° C Low: 79° F/26° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 83° F/28° C Low: 79° F/26° C

High: 83° F/28° C Low: 78° F/26° C

GREAT INAGUA High: 86° F/30° C Low: 79° F/26° C

8‑16 knots

7‑14 knots

marine Forecast ABACO ANDROS

CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: 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 NE at 12‑25 Knots ENE at 12‑25 Knots NE at 10‑20 Knots E at 10‑20 Knots ENE at 10‑20 Knots ENE at 10‑20 Knots E at 8‑16 Knots E at 8‑16 Knots NE at 12‑25 Knots E at 12‑25 Knots ENE at 12‑25 Knots ENE at 12‑25 Knots NE at 10‑20 Knots E at 12‑25 Knots E at 7‑14 Knots E at 8‑16 Knots ENE at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots NE at 15‑30 Knots E at 12‑25 Knots NE at 8‑16 Knots E at 8‑16 Knots NE at 10‑20 Knots ENE at 12‑25 Knots

WAVES 5‑9 Feet 8‑12 Feet 2‑4 Feet 1‑3 Feet 4‑7 Feet 4‑8 Feet 3‑5 Feet 3‑6 Feet 5‑9 Feet 5‑9 Feet 3‑6 Feet 4‑8 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 3‑6 Feet 2‑4 Feet 3‑5 Feet 4‑7 Feet 5‑9 Feet 3‑6 Feet 3‑5 Feet 2‑4 Feet 2‑4 Feet 3‑6 Feet 3‑6 Feet

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502-2394

VISIBILITY 10 Miles 10 Miles 5 Miles 10 Miles 5 Miles 5 Miles 5 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 5 Miles 5 Miles 10 Miles 10 Miles 10 Miles 5 Miles 5 Miles 10 Miles 10 Miles 5 Miles 5 Miles 5 Miles 5 Miles 6 Miles

WATER TEMPS. 77° F 77° F 79° F 78° F 79° F 79° F 82° F 81° F 79° F 79° F 79° F 77° F 81° F 79° F 82° F 81° F 81° F 81° F 83° F 82° F 81° F 80° F 81° F 81° F 79° F 79° F