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MONDAY, MAY 16, 2022
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Confusion over need for approvals over Potter’s Cay rebuild By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister said if Potter’s Cay vendors want to rebuild their stalls in the water they would have to get permission from the Department of Environmental Planning and Protection (DEPP). Clay Sweeting, Minister of Agriculture, Marine Resources and Family Island Affairs, told Tribune Business that if vendors want to build their stalls in the water they would first have to get DEPP to do so, but under any other circumstance they are free to rebuild their stalls where they previously were before the fire destroyed them in April, 2021. Mr Sweeting was responding to complaints made by Wendi Constantine, president of the Bahamas Dock and Allied Venues Vendors
POTTERS CAY DOCK FISH STALLS
SEE PAGE 5
No slowdown in bookings yet after CDC raised risk warning By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THERE has been no slowdown so far in bookings after the US Centers for Disease Control raised the COVID risk rating for The Bahamas to level two - but hoteliers are on the alert as new subvariants are spreading in the US and could reach our shores. Robert Sands, the Bahamas Hotel and Tourism Association’s president, told Tribune Business: “Recognising that the continued prevalence of highly transmissible Omicron subvariants globally (in particular within key source markets) may be helping
ROBERT SANDS (amongst other factors) to fuel the uptick in cases globally; while the level 2 (Moderate) CDC travel health notice designation is not the direction we wish to go as a destination; it is
SEE PAGE 6
FNM leader: Filling top BPL role ‘a move in the right direction’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Opposition’s leader said the hiring of a new Bahamas Power and Light (BPL) chief executive officer is “a move in the right direction” - although he wants answers over why a cooling-off period was not followed from the new appointee’s previous role. Michael Pintard told Tribune Business: “It is important for Prime Minister Davis to ensure that the entire complement of
SHEVONN CAMBRIDGE senior staff members are in place at BPL and that it would be a ‘mistake’ to leave the critical positions
SEE PAGE 6
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Pintard: Govt needs to speak with one voice on VAT By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net FNM leader Michael Pintard says the government needs to clarify its position at the cabinet level on reducing Value Added Tax (VAT) on breadbasket items. Mr Pintard told Tribune Business that Michael Halkitis, Minister for Economic Affairs, “has minimal influence” on how some of the critical decisions are being made in the Ministry of Finance. Prime Minister Philip “Brave” Davis is the substantive minister and delegates most of the important decisions to his financial secretary, Simon Wilson, Mr Pintard said. He added: “One of the problems this administration is having is that you have three different positions oftentimes being expressed on very critical issues. That sends the wrong message both to the
MICHAEL PINTARD doormat domestic and the international arena.” The issue over the reintroduction of VAT on breadbasket items has raised questions over the governing Progressive Liberal Party’s claim of helping the poor and marginalised. On January 1, the Davis administration reduced VAT to 10 percent from 12 percent on all items, however they re-introduced VAT on breadbasket items that were before then zerorated to 10 percent.
SEE PAGE 5
PAGE 2, Monday, May 16, 2022
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DAVIS APPOINTED INTERIM PRESIDENT AT BTVI DR LINDA Davis has been appointed as the new interim president at the Bahamas Technical and Vocational Institute (BTVI). In a statement, BTVI said: "Dr Davis has served
in higher education administration at the senior level for more than 20 years, with experience both locally and internationally. "As the institution transitions and at this
significant juncture in its history, the board is confident that Dr Davis, who is a well-respected academician, will be instrumental in the transformation and structure necessary to
bring BTVI in alignment with its strategic goals." Dr Davis replaces the outgoing president, Dr Robert W Robertson, who served in the role for six years.
DR LINDA DAVIS
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Monday, May 16, 2022, PAGE 3
BMA DELEGATION AT THE SEATRADE CRUISE GLOBAL 2022
MARITIME AUTHORITY TAKES PART IN GLOBAL EVENT THE Bahamas Maritime Authority (BMA) took part in the SeaTrade Cruise Global 2022 event in Miami Beach, Florida. In a statement, the authority said: "As the world’s largest flag state for passenger ships and the main sponsor for Cruise Lines International Association’s main opening ‘Business on the Beach’ reception, we were proud to facilitate networking access and share the renowned Bahamian hospitality including the vibrant and exhilarating Junkanoo music with the cruise community." The BMA delegation was led by chairman Jaqueline Simmons, who was joined by deputy chairman Peter John Goulandris, board directors Dario LundyMortimer, LaMarque Drew and V Moreno Hamilton, Ministry of Transport & Housing Permanent Secretary and Secretary to BMA’s Board Antoinette Thompson and BMA managing director and CEO Captain Dwain Hutchinson, BMA head of Nassau
office & registrar Katie Clarke, assistant director (Inspections& Surveys) Alessandro Lo Piccolo, BMA New York registrar Felicia Alleyne and BMA marketing manager Charlotte Ward and Bahamas Shipowners Association manager Anders Brodje. The statement added: "The event provided the opportunity to thank our passenger ship clients and engage in mutually beneficial discussions with them along with our strategic partners including representatives from the Bahamas classification societies, Bureau Veritas (BV), Det Norske Veritas (DNV), Lloyds Register (LR) and Registro Italiano Navale (RINA), as well as the US Coast Guard and the Port of Miami. "The importance of The Bahamas as a premier flag state was recognised by the cruise shipowners who continue to look forward to building on their relationship with The Bahamas. Environmental sustainability was also advocated along with a commitment
to assisting with national capacity building through training and employment of Bahamians where possible. The potential for mutual cooperation and sharing of expertise was also discussed during a meeting with officials of the Port of Miami where Permanent Secretary Thompson thanked the Port for its willingness to engage in information sharing that would benefit both parties, recognising the close ties and proximity of The Bahamas with the USA. "After such a challenging period that resulted in the commercial shutdown of the cruise sector, we extend our appreciation to the cruise community for entrusting the BMA with their ships and allowing us to continue to provide a quality registration service. It was extremely rewarding to meet with everyone face to face and all agree that… cruising is back with The Bahamas remaining a primary destination and flag of choice!"
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PAGE 4, Monday, May 16, 2022
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MINISTER Sweeting meets with farmers to push poultry farming. From L to R: Pericles Maillis; Justin Taylor; Parliamentary Secretary in Ministry, Minister of Agriculture, Marine Resources and Family Island Affairs, Neville Johnson and Horatio Poitier. Photo:Kendea Smith
‘INCREASE POULTRY PRODUCTION TO CUT IMPORT BILL’ MINISTER of Agriculture, Marine Resources and Family Island Affairs Clay Sweeting said he’s looking to promote poultry production in The Bahamas to lower the country’s exorbitant import bill. “Poultry is one of those ways where we think that we can do that,” he said. “Jamaica has done an excellent job in the poultry industry and now Guyana is one that is following suit. We are trying to look at some quick wins for The Bahamas. In the 90s, poultry was a contributing factor to the sector especially in Eleuthera, where we had a chicken farm in the 70s. Egg production as well as broilers are ways that we are looking at making dents in agricultural food imports and hopefully these will be quick wins where we can get persons involved.” Currently, the country’s food import bill is around $1 billion. Mr Sweeting said there are a number of islands where poultry farming is popular, such as in Abaco where Abaco Big Bird has made significant gains. He said: “My view and vision is to encourage and enhance and to get a proper policy decision with the government where we can encourage farmers in this sector. I feel that we as a country and as a ministry can help enhance the sector whether it be by concessions or other avenues. “We have spoken to companies like Jamaican Broilers and we are
supposed to meet with Caribbean Broilers where they can help us to help Bahamians who want to get involved in the sector and who are now wanting to expand. We have spoken with Abaco Big Bird as to how we, as a government, can support them. For the most part, it is supporting the farmers where we have lacked over the last few decades.” He said the ministry is looking to hire extension officers to provide more certifications for farmers. “We are going to bring on technical persons like extension officers who can help give farming expertise and train professionals to help facilitate where they have gaps for production,” he Sweeting said. “We do have a health and safety department in the Department of Agriculture called Bahamas Agricultural Health and Safe Authority and the same with fisheries. Bahamians – even though they want to buy local – they want to buy something that is safe to eat. We are looking to structure that so that farmers have certifications nationally and internationally so that if we wanted to export, we can. We spoke to farmers who want to be brought up to standards and want to know what the standard is.” Mr Sweeting said the Ministry is continuing to work with the Bahamas Agricultural and Industrial Corporation (BAIC) to
enhance feed mills around The Bahamas. “In order for poultry or any livestock to be successful, proper feed is a concern so we are still working with BAIC who has carriage over the feed mill to put together a proper plan so that sooner or later persons who want to get involved in that part of the sector will not have the concern of whether or not they can purchase feed. Feed is the backbone of our industry and we are hoping that in a few months, we will have that ironed out as well,” he said. This week, Mr Sweeting met with several poultry farmers, where he acknowledged that poultry production is considered costly. However, he said the production of poultry can assist greatly in strengthening the economy. “I do understand the poultry production would be a little more costly to farmers than importing. But when you look at creating opportunities and creating jobs and encouraging youth and women to get involved in the sector, we as a government must find ways to assist farmers,” he Sweeting said. “It can be real lucrative. One farmer I spoke to is selling eggs at $3 a carton and the food stores are selling them at $6. We just have to get persons involved and really sell the idea of poultry production.”
THE TRIBUNE
Monday, May 16, 2022, PAGE 5
CONFUSION OVER NEED FOR APPROVALS OVER POTTER’S CAY REBUILD FROM PAGE ONE Association (BDAVVA), who told Tribune Business that Mr Sweeting was being “misled” by people who gave him improper information on how the destroyed stalls on Potter’s Cay Dock originally were. Ms Constantine said: “We attended a meeting with Minister Clay Sweeting and the Permanent Secretary of the Ministry of Agriculture. Whoever is the driving force behind the proposed plans has misled Minister Sweeting as to the layout of the rebuilding of the six fire victims’ stalls.”
She added: “The union was deliberately left out of the revised decisions and as a result what was proposed is not only unworkable but unacceptable. Except for what was originally discussed about the materials left at FYP Builders Mall by the previous administration, but beyond that, the entire meeting took us by surprise.” “At no time in our meetings with the Minister did he indicate that we would have to go through the DEPP to be given permission to rebuild the decks needed to have the stalls the original size. When I mentioned this to Minister
Sweeting that this information was brought to my attention, he admitted that he was aware that we had to go through this process and also admitted it could take anywhere from eight months to a year, and even then, there’s no guarantee approval.” Mr Sweeting said: “The thing is they have to put the poles in the water and in order to put poles in the water you have to go to DEPP. The thing is we allocated for them the funding, which works out to about $16,000 per vendor and we met with them twice and provided them with two options.”
Mr Sweeting also said: “We’re sending the plans to the Ministry of Works (MOW) and we’re facilitating to expedite the process that they have been given approval from the MoW because you have to get their approval with the building plans. He added: “The only thing that has to go to approval to DEPP for is if they want to put poles in the water. We’re providing them with the plans and we are facilitating them with getting the plans approved.” The vendors have already gotten their letters for funding to rebuild their stalls as
well, it was about $96,000 split between six of them, so we are helping them.” Ms Constantine said, however: “This should have been mentioned to us in one of the meetings.” She added: “Why would we need approval for something we already had?” The DEPP Act came into effect in 2019, well after the vendors had built their original stalls. Since the Act is not retroactive, it meant that anything else moving forward that dealt with putting structures in the waters would amount to needing environmental approval. She added: “Without the deck, the vendors would
have to build on the sidewalk. What is so confusing is that the vendors had decks prior to the fire. We are not reinventing the wheel. So what about all the existing stalls with decks? The approval from DEPP the Minister is saying is to ensure that the integrity of the seabed is not compromised.” She also noted that there are stalls out on Potter’s Cay dock with poles in the waters and she also said that the ministry is not bothering with them, but only these six “poor Black Bahamians” who only want to provide an “ocean view” for their patrons.
PINTARD: GOVT NEEDS TO SPEAK WITH ONE VOICE ON VAT
FROM PAGE ONE
Mr Halkitis has defended the government’s position of raising prices on certain breadbasket items, referring to the matter as commonplace and happens all the time during the budget year. Mr Pintard also said: “The breadbasket issue is a similar kind of situation where the Prime Minister has created an expectation that we would have seen a reduction in the costs of bringing in containers in the country and that would have an impact on the cost of a number of things inclusive of bread basket items. He added: “Well, what he has promised that would
produce relief in that regard, because looking at the container prices, has actually not happened and it appears that the reverse is happening. “So rather than provide relief, what we’re seeing is additional burdens being put on the Bahamian people. We acknowledged that some of those increases in price have absolutely nothing to do with the domestic market and is driven by international issues inclusive production capacity and in the states in the other countries where goods originate.” Regardless of the imported inflationary pressure, Mr Pintard said: “The
MICHAEL HALKITIS
role of national government is to mitigate against international pressures and so when a prime minister promises that his discussions had borne fruit and that container prices are going to go down, wholesalers are going to cooperate with him, which I haven’t heard the wholesalers verify that they are, then we are expecting some results.” Noting the government should still speak with one, clear voice on the matter, he said further about the removal of VAT on breadbasket items that “none other than the minister for education, Glenys HannaMartin, says her desire is for
VAT to be removed from all breadbasket items”. He added: “Certainly she is a senior person in our parliament, widely respected and highly regarded, and who represents a grassroots
area so she knows firsthand the pressures that are on our people. She is saying that VAT should be removed off of all food items.
“So again, Mr Halkitis who is not a very influential voice on these matters, the primary voice is the Prime Minister and the second voice is the financial secretary.”
PAGE 6, Monday, May 16, 2022
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FNM LEADER: FILLING TOP BPL ROLE ‘A MOVE IN THE RIGHT DIRECTION’ FROM PAGE ONE
not covered, given the challenges that BPL has. “Now that someone has been identified to occupy the top position, that is a move in the right direction.” Shevonn Cambridge has replaced the outgoing CEO of the corporation, Whitney Heastie, having started his new role on Friday. There has been controversy over his appointment due to his previous role at the Utilities Regulatory and Competition Authority (URCA), the agency that regulates the very same electricity company he now heads.
Under the URCA Act 2009, no non-executive member, executive member or member of staff may, during his or her term of employment, engage in any employment, consulting or similar service relating to a regulated sector within the duties of his or her engagement by URCA and for 12 months after his or her term of employment, any such person it refers to may only engage in such employment, consulting or similar service with the prior written approval of the non-executive board or of that of the chief executive officer of URCA.
Mr Cambridge was CEO of URCA at the time of him leaving the body, having replaced Stephen Bereaux in February, 2020. Mr Pintard said: “The Prime Minister simply needs to explain a couple of things to allay any concerns that members of the public may have. For example, we expect in a good corporate governance system for us to avoid any appearance of conflict of interest. “You have the principal person from the regulatory body now occupying principal position in the agency that he just recently regulated, there is a requirement on I suspect
both organiwations’ behalf to issue correspondence indicating that they do not have an issue with this in either direction.” The government has not indicated that it had followed the URCA Act with regard to Mr Cambridge getting approval from the chairman of URCA, but it is assumed that getting approval from himself would not have been prudent. Mr Pintard added: “My recollection is that there has to be a cooling off period for not less than 12 months before anyone is able to move, for example, from URCA to BPL. If they
move within that period of time, there would have to be clearly a documented position stated from the relevant agencies. “So we’d like to know the Prime Minister should seek to clarify why the cooling off period was not observed and then secondly, to see if such letters were exchanged, and what are the dates of those letters.” Mr Pintard also pointed to the overall confusion this changeover meant for BPL at this particular time. Pointing to the fuel hedging strategy that the former Free National Movement government left in place at the power company, Mr
Pintard said: “The media and the Opposition has asked about the over and under account and asked whether or not the government did in fact eat the cost that would have been passed on to the public of the increase in the cost of fuel because this government refused to execute the September and December trades therefore costing the Bahamian people some $50m because the hedge was not observed and the trades were not conducted.” He said that as a result of not observing the hedge agreement, BPL had to “forecast an increase in the rate.”
NO SLOWDOWN IN BOOKINGS YET AFTER CDC RAISED RISK WARNING FROM PAGE ONE not inconceivable that we would experience our own uptick in cases locally. “In keeping with international and local health authorities’ observations and recommendations re the efficacy of vaccinations; we continue to recommend mindfulness of the need to take reasonable precautions against infection and we continue to urge persons to get vaccinated and boosted - to be considerate of the health and wellbeing
of family, community members, fellow employees and those persons who may be more vulnerable to the severe illness due to infection.” COVID-19 cases have been slightly rising in the country over the past two weeks. Additionally with the Omicron variant a new BA.2 subvariant is rising in the US as well and will probably become the dominant form of the virus in the United States in the next few weeks.
Other resorts around the country shrugged off the level two CDC rise as not particularly concerning. Matthew Brear, Cape Santa Maria’s general manager, also said: “I don’t think anybody looks at those situations, I don’t think anybody is going to lose any sleep over it. “I think that if we went from level one to level four, then people would be concerned, but honestly I don’t think anybody looks at these if they are only
bouncing between level one and level two.” Muna Issa, SuperClubs Breezes managing director, also said that the level two warning “has not put a damper” on bookings at all.
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Monday, May 16, 2022, PAGE 7
Some Shanghai businesses to reopen Monday, officials say By HUIZHONG WU Associated Press TAIPEI, Taiwan (AP) — Supermarkets, malls and restaurants in Shanghai will be allowed to open in a limited capacity starting Monday, officials said, even while it remained unclear whether residents would be let out from their homes. The city's Vice Mayor Chen Tong said Sunday at a daily press briefing that grocery stores, malls,
convenience stores and pharmacies will be allowed to reopen while implementing measures that "reduce the flow of people." Agriculture markets will also be allowed to reopen while ensuring "no contact" transactions. Restaurants will be allowed to serve takeout. However, Shanghai's transportation department said Sunday that all subway lines in the city had stopped operating. It was unclear
FIRST LEGAL NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000
Soleado Limited Voluntary Liquidation
NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the International Business Companies Act, 2000 as follows:a)
Soleado Limited is in dissolution under the provisions of the International Business Companies Act, 2000.
b) The dissolution of the said Company commenced on 4th May 2022 when its Articles of Dissolution were submitted to and registered by the Registrar General. c) The Liquidator of the said Company is Amicorp Bahamas Management Limited whose address is 3rd Floor, Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, Bahamas. Amicorp Bahamas Management Limited Liquidator
NOTICE IN THE ESTATE OF PETER HATCH BEMBERG late of Les Arcades du Lac, Chemin de la Falaise 29, 1196 Gland, Switzerland, Deceased IT IS HEREBY NOTIFIED, for the information of those it may concern, that all persons having claim or demand against the said Estate are required to send the same to the undersigned on or before the 7th day of June, A.D. 2022 and if so required by notice in writing from the undersigned to come in and prove such demand or claim or in default thereof be excluded from the benefit or any distribution made before such debts are proved; AND NOTICE is hereby given that all persons indebted to the said Estate are requested to settle their respective debts at the Chambers of the undersigned on or before the date hereinbefore mentioned. Dated the 9th day of May, A.D. 2022 CALLENDERS & CO. CHAMBERS, One Millars Court, P.O. Box N-7117, Nassau, The Bahamas Attorneys for the Personal Representative
DIVIDEND NOTICE TO ALL SHAREHOLDERS
The Board of Directors of Bahamas Waste Limited has declared a Dividend for Ordinary Shares, to all shareholders of record as of May 27th, 2022 of $0.16 cents per share
The payment will be made on June 8th, 2022, through Bahamas Central Securities Depository Limited, the Registrar & Transfer Agent Robert V. Lotmore Corporate Secretary
when those services would restart. City residents are waiting cautiously to see how the new measures will actually play out. Although the city's official total lockdown began at the end of March, many have been stuck in their homes for longer. Shanghai officials have previously said the city of 25 million people would reopen in a limited way, only for restrictions to return even as cases wane. Residents who have been allowed to return to work are put into a "closed loop" system similar to the one used for the Olympics. That means they cannot return home but have to live on-site. China reported 1,718 locally transmitted COVID19 cases on Sunday, with the vast majority being infections without symptoms.
WORKERS disinfect before ending their shift at a COVID mass testing site on Sunday, May 15, 2022, in Beijing. Photo:Ng Han Guan/AP
PAGE 8, Monday, May 16, 2022
THE TRIBUNE
SAUDI OIL GIANT ARAMCO’S FIRST-QUARTER PROFITS SURGE 80% A MAN walks under a billboard displaying an advertisement for Saudi Arabia’s state-owned oil giant Aramco with Arabic reading “Saudi Aramco, soon on stock exchange” in Jiddah, Saudi Arabia on Nov. 12, 2019. Oil giant Saudi Aramco said Sunday, May 15, 2022 its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine. Photo:Amr Nabil/AP
By ISABEL DEBRE Associated Press
DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine. The bumper first-quarter earnings by the firm formally known as the Saudi Arabian Oil Co., which overtook Apple as the world’s most valuable company last week, show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. The figure marks the oil group’s highest quarterly profit since 2019, when the Saudi government, which owns 98% of the company, listed a sliver of its worth on Riyadh’s Tadawul stock exchange in what was then the world’s largest-ever initial public offering. In a statement, Aramco’s chief executive attributed the spike in profits to rising prices as well as the kingdom’s increase in production, along with allies in the group known as OPEC Plus. He also appeared to suggest that the disruption from the war in Ukraine had underscored the vital role of oil and gas companies like Aramco. “Against the backdrop of increased volatility in global markets, we remain focused on helping meet the world’s demand for energy that is reliable, affordable and increasingly sustainable,” President and CEO Amin H. Nasser said, adding that Aramco was in the midst of increasing its maximum production capacity to meet anticipated demand growth. Oil prices rallied to a 14-year high of $139 a barrel in March immediately after Russia’s invasion of Ukraine, although later
receded as Russian oil continued to flow and renewed lockdowns hurt demand for hydrocarbons in China, a top importer. International benchmark Brent crude traded over $111 a barrel Sunday. Shares of Aramco jumped 1.85% on Sunday on the earnings report, with a share costing 41.40 Saudi riyals, or $11.04 on the Tadawul stock market. Aramco shares have shot up since the start of the year, making it the world’s most valuable company last week with a market cap of around $2.43 trillion. The oil group said it maintained its $18.8 billion cash dividend for the fourth quarter of last year — completing one of the biggest full-year cash dividends in the world. The payment is a crucial source of revenue for the Saudi government. Gearing, which the company defines as the degree to which its operations are financed by debt, dropped from 14% at the end of last year to 8% in the first quarter. The strong quarterly results come after resurgent economic activity and the relaxation of global coronavirus restrictions had already delivered record annual results for the statebacked company last year after the devastation of the pandemic and years of sluggish growth amid relatively lower prices. The skyrocketing oil prices have provided a welcome boost to the Saudi economy. Saudi Arabia — the world’s top oil exporter and OPEC’s de facto leader — logged its fastest economic growth in a decade during the first quarter of the year, with its gross domestic product growing 9.6% compared to the same period last year, according to its statistics agency. The International Monetary Fund expects the kingdom’s economy to expand 7.6% this year.
CALL 502-2394 TO ADVERTISE TODAY! Legal Notice FIRST LEGAL NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000
SURPINA LIMITED Voluntary Liquidation
NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the International Business Companies Act, 2000 as follows:a) Surpina Limited is in dissolution under the provisions of the International Business Companies Act, 2000. b) The dissolution of the said Company commenced on 4th May 2022 when its Articles of Dissolution were submitted to and registered by the Registrar General. c) The Liquidator of the said Company is Amicorp Bahamas Management Limited whose address is 3rd Floor, Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, Bahamas. AMICORP BAHAMAS MANAGEMENT LIMITED
NOTICE IN THE ESTATE OF MARILYN GILL CHAMBERLAIN, of Leo Pinder Main Street, in the Settlement of Spanish Wells of St. George’s Cay one of the Islands in the Commonwealth of The Bahamas Deceased IT IS HEREBY NOTIFIED, for the information of those it may concern, that all persons having claim or demand against the said Estate are required to send the same to the undersigned on or before the 7th day of June, A.D. 2022 and if so required by notice in writing from the undersigned to come in and prove such demand or claim or in default thereof be excluded from the benefit or any distribution made before such debts are proved; AND NOTICE is hereby given that all persons indebted to the said Estate are requested to settle their respective debts at the Chambers of the undersigned on or before the date hereinbefore mentioned. Dated the 9th day of May, A.D. 2022 CALLENDERS & CO. CHAMBERS, One Millars Court, P.O. Box N-7117, Nassau, The Bahamas Attorneys for the Personal Representative
THE TRIBUNE
Monday, May 16, 2022, PAGE 9
G7 WARN OF UKRAINE GRAIN CRISIS, ASK CHINA NOT TO AID RUSSIA By FRANK JORDANS Associated Press WEISSENHAUS, Germany (AP) — The Group of Seven leading economies warned Saturday that the war in Ukraine is stoking a global food and energy crisis which threatens poor countries, and urgent measures are needed to unblock stores of grain that Russia is preventing from leaving Ukraine. German Foreign Minister Annalena Baerbock, who hosted a meeting of top G-7 diplomats, said the war had become a "global crisis." She said up to 50 million people, particularly in Africa and the Middle East, would face hunger in the coming months unless ways are found to release Ukrainian grain, which accounts for a sizeable share of the worldwide supply. In statements released at the end of the three-day meeting on Germany's Baltic Sea coast, the G-7 pledged to provide further
humanitarian aid to the most vulnerable. "Russia's war of aggression has generated one of the most severe food and energy crises in recent history which now threatens those most vulnerable across the globe," the group said. "We are determined to accelerate a coordinated multilateral response to preserve global food security and stand by our most vulnerable partners in this respect," it added. Canada's foreign minister, Melanie Joly, said her country, another major agricultural exporter, stands ready to send ships to European ports so Ukrainian grain can be brought to those in need. "We need to make sure that these cereals are sent to the world," she told reporters. "If not, millions of people will be facing famine." Russia dismissed the claim that it was responsible for worsening global
hunger and driving up food prices. "Prices are rising because of sanctions imposed by the West under pressure of the USA," said Russian Foreign Ministry spokeswoman Maria Zakharova. "Failure to understand this is a sign either of stupidity or intentional misleading of the public." The G-7 nations also called on China not to help Russia, including by undermining international sanctions or justifying Moscow's actions in Ukraine. Beijing should support the sovereignty and independence of Ukraine, and not "assist Russia in its war of aggression," they said. The G-7 urged China "to desist from engaging in information manipulation, disinformation and other means to legitimize Russia's war of aggression against Ukraine." The grouping, which comprises Britain, Canada, France, Germany, Italy, Japan and the United States, also reiterated its
stance that the territories seized by Russian forces need to be returned to Ukraine. "We will never recognize borders Russia has attempted to change by military aggression," they said. The meeting in Weissenhaus, northeast of Hamburg, was billed as an opportunity for officials to discuss the broader implications of the war for geopolitics, energy and food security, and ongoing international efforts to tackle climate change and the pandemic. In a series of closing statements, the G-7 nations also addressed a wide range of global problems from the situation in Afghanistan to tensions in the Middle East. On Friday, Ukrainian Foreign Minister Dmytro Kuleba appealed to friendly countries to provide more military support to Kyiv and increase the pressure on Russia, including by seizing its assets abroad to pay for rebuilding Ukraine. Kuleba said his country remains willing to talk
to Russia about unblocking grain supplies stuck in Ukraine's silos and also about reaching a political agreement to end the war itself, but had so far received "no positive feedback" from Moscow. German Chancellor Olaf Scholz said in an interview published Saturday that he had not detected any change in Putin's stance recently. Scholz, who spoke at length by phone with the Russian leader Friday, told German news portal t-online that Putin had failed to achieve the military objectives he set out at the start of the war while losing more Russian soldiers than the Soviet Union did during its decade-long campaign in Afghanistan. "Putin should slowly begin to understand that the only way out of this situation is through an agreement with Ukraine," Scholz was quoted as saying. One idea discussed at the G-7 meeting was whether Russian state assets frozen
abroad can be used to pay for the reconstruction of Ukraine. "Russia bears responsibility for the massive damage resulting from this war," Baerbock said. "And that's why it's a question of justice that Russia should have to pay for this damage." But she added that, unlike in Canada — where legislation allows for seized funds to be repurposed — the legal basis for doing so in Germany is uncertain. "But that's precisely what such meetings are for, to have an exchange about how to resolve these legal questions," Baerbock said. Many of the foreign ministers traveled straight on to an informal meeting of NATO diplomats in Berlin on Saturday and Sunday. That gathering will consider moves by Finland and Sweden to join the military alliance amid concerns about the threat from Russia, as well as ways in which NATO can support Ukraine without being drawn into the conflict.
PAGE 10, Monday, May 16, 2022
THE TRIBUNE
STOCKS RALLY, BUT STILL MARK THEIR 6TH STRAIGHT LOSING WEEK By DAMIAN J. TROISE AND ALEX VEIGA AP Business Writers
NEW YORK (AP) — Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn’t nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011.
The S&P 500 climbed 2.4%. More than 90% of the companies in the benchmark index closed higher. The Nasdaq rose 3.8% as more gains in technology companies helped lift the tech-heavy index. The Dow Jones Industrial Average rose 1.5%. The upbeat finish still left the indexes with weekly losses of more than 2.4% each, extending the string
of weekly declines to six weeks for the S&P 500 and Nasdaq, while the Dow registered its seventh straight weekly drop. Markets have been slumping since late March as traders worry that the Federal Reserve may not succeed in its delicate mission of slowing the economy enough to rein in the highest inflation in four
decades without causing a recession. While there have been sudden rallies along the way, including a 2.5% gain for the S&P 500 in late April and a 3% gain in early May, the market has continued to lose ground since setting an all-time high at the start of the year. That’s not an unusual pattern on Wall Street when indexes are close to entering a bear market, or a decline of 20% or more from their most recent peak. The closest the S&P 500 has gotten to a bear market this year was Thursday, when it ended 18.1% below the peak it reached in January. “If you look back at how bear markets unfold, they don’t go down every day, all day, all at once until the finish, they have pretty good rallies,” said Tom Martin, senior portfolio manager with Globalt Investments. “This might be one of those big rallies that takes you back up somewhat before the market turns back down again.” The S&P 500 rose 93.81 points to 4,023.89. The index is now down 15.6%
for the year. The Dow gained 466.36 points to 32,196.66, while the Nasdaq rose 434.04 points to 11,805. Smaller company stocks also staged a solid rally. The Russell 2000 gained 53.28 points, or 3.1%, to 1,792.67. Twitter fell 9.7% after Tesla CEO Elon Musk said he was putting his deal to acquire the social media company on hold. Tesla rose 5.7%. Businesses have been struggling to keep up with increased demand for a wide range of products and goods amid supply chain and production problems. They’ve been raising prices on everything from food to clothing, which has been putting pressure on consumers and raising concerns about a pullback in spending and slower economic growth. The Fed is attempting to temper the impact from rising inflation by pulling its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. It also said it may continue to raise rates by double the usual amount at upcoming meetings. Investors are
concerned that the central bank could cause a recession if it raises rates too high or too quickly. The Labor Department issued reports this week that confirmed persistently high consumer prices and wholesale prices that affect businesses. “There’s a lot of issues and rising inflation with a tightening Fed is not the greatest of market conditions, but at some point it’s priced in,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. Meanwhile, China’s decision to lock down major cities amid worries about a COVID-19 resurgence have further strained supply chains and Russia’s invasion of Ukraine raised already high energy and food costs globally. Technology stocks led the gains Friday. Apple rose 3.2% and Microsoft rose 2.3%. The sector has been behind much of the broader market’s volatility throughout the week and has been slipping overall as investors prepare for higher interest rates, which tend to weigh most heavily on the priciest stocks.
THE NEW York Stock Exchange operates during normal business hours in the Financial District, Wednesday, Oct. 13, 2021, in the Manhattan borough of New York. Stocks are opening higher on Wall Street, Friday, May 13, 2022, but not enough to claw back all the losses the market has taken in this volatile week of trading. Photo:John Minchillo/AP
THE TRIBUNE
Monday, May 16, 2022, PAGE 11
PUTIN WARNS FINLAND NATO MEMBERSHIP WOULD HARM RELATIONS By JARI TANNER Associated Press HELSINKI (AP) — Russian President Vladimir Putin warned his Finnish counterpart Saturday that relations between the two neighbors could be "negatively affected" if Finland follows through with plans to apply for NATO membership. The Kremlin's press service said in a statement that Putin told Sauli Niinisto Finland's abandonment "of its traditional policy of military neutrality would be an error since there are no threats to Finland's security." "Such a change in the country's foreign policy could negatively affect Russian-Finnish relations, which had been built in the spirit of good neighborliness and partnership for many years, and were mutually beneficial," the statement added.
The response came after Niinisto told Putin in a phone conversation that the militarily non-aligned Nordic country, which has a complex history with its huge eastern neighbor, "will decide to apply for NATO membership in the coming days." Niinisto's office said in a statement that the Finnish head of state told Putin how starkly Finland's security environment had changed after Moscow's Feb. 24 invasion of Ukraine, and pointed to Russia's demands for Finland to refrain from seeking membership of the 30-nation Western military alliance. "The discussion (with Putin) was straightforward and unambiguous and was held without exaggeration. Avoiding tensions was considered important," said Niinisto, Finland's president since 2012 and one of a handful of Western
leaders who has been in regular dialogue with Putin over the past decade. Niinisto pointed out that he had already told Putin at their first meeting in 2012 that "each independent nation would maximize its own security." "That is still the case. By joining NATO, Finland will strengthen its own security and assume its responsibilities," Niinisto said.
Niinisto stressed that Finland, despite its likely future membership in NATO, wants to continue to deal with Russia bilaterally in "practical issues generated by the border neighborhood" and hopes to engage with Moscow "in a professional manner." According to the Kremlin statement, the two leaders also discussed Russia's "military operation"
in Ukraine, and the possibility of achieving a political solution. Putin said negotiations between Moscow and Kyiv had been suspended due to Ukraine's "lack of interest in a serious and constructive dialogue." The phone call was conducted on Finland's initiative, Niinisto's office said.
Finland shares a 1,340-kilometer (830-mile) border with Russia, the longest by any European Union member. Niinisto and Finnish Prime Minister Sanna Marin on Thursday jointly endorsed their country's NATO bid and recommended that Finland "must apply for NATO membership without delay" to guarantee its security.
NOTICE
NOTICE is hereby given that DAVIDSONE DAVILMAR of Podoleo Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 9th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that NATHALIE PAULIN-JOSEPH of P.O. Box SB-50753, #17 Zenaida Drive, St. Andrews Beach Estates, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 9th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that HARINIQUE SHAMA JOSEPH of P. O Box SB-52817, Tina Close off Hamster Road, New Providence, 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 16th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that SHAMAD HAROLD JOSEPH of P. O Box SB-52817, Tina Close off Hamster Road, New Providence, 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 16th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that ARISTIDES MARTINEZ MARTINEZ of South Beach, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 9th day of May, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
MARKET REPORT www.bisxbahamas.com
FRIDAY, 13 MAY 2022
BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 53.00 2.05 2.90 2.60 6.05 10.05 3.50 9.02 3.10 8.00 15.30 2.71 10.25 11.25 10.85 15.00 4.10 11.00 16.50
52WK LOW 4.75 32.12 1.46 2.20 1.30 5.50 6.96 2.82 4.25 2.27 5.93 9.75 1.99 6.50 10.02 9.01 13.10 3.50 8.00 15.50
SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank (Bahamas) Limited Focol Finco J. S. Johnson
PREFERENCE SHARES 1.00
1.00
1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 10.00 1.00
1.00 10.00 1.00
Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00
52WK LOW 100.00 100.00
SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited
CLOSE
CHANGE
%CHANGE
YTD
YTD%
2350.95
0.14
0.01
122.71
5.51
SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB SYMBOL FBB22 BFHB
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.54 99.98 100.00 100.00 100.00 100.00 100.00 100.98 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.76 100.00 99.98 91.00 90.95 89.02 89.62 89.00 90.24 90.73
MUTUAL FUNDS 52WK HI 2.52 4.69 2.22 207.86 212.41 1.73 1.83 1.82 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89
52WK LOW 2.11 3.30 1.68 164.74 116.70 1.68 1.73 1.75 0.99 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BGR134150 BGRS FL BGRS79026 BGRS FL BGRS78024 BGRS FX BGR125238 BGRS FX BGR127139 BGRS FX BGR127149 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150
BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1341506 BSBGRS790262 BSBGRS780248 BSBGR1252380 BSBGR1271398 BSBGR1271497 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504
LAST CLOSE 5.35 39.95 2.04 2.31 2.25 6.05 9.25 3.30 7.52 2.68 8.00 15.18 2.16 10.25 11.63 10.85 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.79 100.54 99.98 100.00 100.00 89.08 89.62 100.00 100.00 100.00
CLOSE 5.35 39.95 2.04 2.31 2.25 6.05 9.25 3.30 7.52 2.68 8.00 15.18 2.29 10.25 11.66 10.85 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
VOLUME
1,000
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00 100.00
CHANGE 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.79 100.54 99.98 100.00 100.00 89.08 89.62 100.00 100.00 100.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F
MARKET TERMS
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.00 0.03 0.00 0.00 0.00 0.00 0.00
(242) 323‐2330 (242) 323‐2320 EPS$ 0.239 0.932 0.000 0.140 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
VOLUME
DIV$ 0.170 1.260 0.020 0.080 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.00% 4.53% 4.50% 5.00% 5.00% 5.50% 5.55% 5.60% 5.65% 5.69%
NAV 2.52 4.69 2.21 197.44 202.39 1.73 1.82 1.82 0.99 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89
YTD% 12 MTH% 0.99% 4.22% 0.36% 5.78% 0.67% 2.74% -2.97% -2.35% -4.72% 6.04% 0.83% 2.82% -0.18% 3.72% 0.76% 3.55% -3.55% -3.85% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%
P/E 22.4 42.9 N/M 16.5 N/M N/M 25.1 -7.5 53.7 14.6 17.8 21.0 22.5 21.9 18.0 14.9 18.4 19.7 10.6 24.6 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
YIELD 3.18% 3.15% 0.98% 3.46% 0.00% 0.00% 2.81% 0.00% 0.00% 4.48% 2.75% 4.74% 18.95% 0.59% 2.81% 2.21% 3.60% 3.01% 2.00% 3.94% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%
MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Oct-2038 28-Mar-2026 22-Sep-2024 15-Oct-2038 15-Jan-2039 15-Jan-2049 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050
NAV Date 31-Mar-2022 31-Mar-2022 25-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Mar-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
THE TRIBUNE
Monday, May 16, 2022, PAGE 13
OPENING NEARS FOR RENO-SPARKS’ FIRST NEW CASINO IN 26 YEARS SPARKS, NEV. Associated Press THE operator of the world's largest sportsbook in Las Vegas is expanding into northern Nevada this year as part of a collaboration with what will be the first new casino built in Reno-Sparks in more than a quarter century. Circa Sports secured a deal with Legends Bay Casino owner Olympia Gaming to operate a sportsbook at the property being constructed just east of Reno, the Reno GazetteJournal reported.
In addition to the sportsbook, the 80,000-square-foot (7,432-square-meter) casino with have table games, slot machines, video poker and multiple restaurants. It's scheduled to open sometime this summer at the Legends at Sparks Marina along Interstate 80. "We are thrilled to partner with Olympia Gaming to introduce our brand to a new part of the state," said Derek Stevens, Circa Sports CEO. "We look forward to bringing an incredible sportsbook to the property."
Circa Sports launched in 2019 at Stevens' Golden Gate Hotel & Casino in Las Vegas. Since then, the company has expanded its footprint into five southern Nevada casinos while also providing mobile betting services in Colorado and Iowa. Its sportsbook at Stevens' Circa Resort & Casino, which opened in 2020, is touted as the largest sportsbook in the world. Stevens said the new partnership with Olympia in Sparks is the "icing on the cake." "Legends Bay is the first ground-up casino in the Reno-Sparks area to
be built in 30-plus years," Stevens told the Gazette Journal. "So we loved the opportunity to put our first Northern Nevada Circa Sports retail location in this ... property." Legends Bay Casino marks the culmination of a journey that started in 2007 for Olympia. Originally envisioned as a hotel-casino, the project experienced several starts and stops thanks to unexpected economic headwinds. The first was the Great Recession in 2008, which hit Reno-Sparks' real estate and construction industry
particularly hard. Then came the COVID-19 pandemic, which triggered a lockdown across the entire state of Nevada. Following the 2008 recession, the hotel-casino concept was ditched in favor of a phased approach. The first phase involved the construction of two hotels, a 102-room Hampton Inn & Suites as well as a 104-room Residence Inn by Marriott. Both projects broke ground in 2017 and have since opened. The next phase is the Legends Bay Casino itself, which broke ground in 2021.
THE WEATHER REPORT
5-Day Forecast
TODAY
ORLANDO
High: 92° F/33° C Low: 69° F/21° C
TAMPA
WEDNESDAY
THURSDAY
FRIDAY
Some sun with a shower and t‑storm
Partly cloudy with a t‑storm late
A t‑storm in spots in the morning
Mostly sunny and pleasant
Partly sunny and pleasant
Cloudy, a couple of t‑storms; humid
High: 83°
Low: 73°
High: 83° Low: 75°
High: 85° Low: 76°
High: 84° Low: 75°
High: 86° Low: 76°
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
93° F
81° F
94°-84° F
98°-84° F
96°-81° F
96°-82° F
tiDes For nassau High
almanac
E
ABACO
S
N
High: 81° F/27° C Low: 76° F/24° C
7‑14 knots
S
High: 87° F/31° C Low: 70° F/21° C
7‑14 knots
FT. LAUDERDALE
FREEPORT
High: 85° F/29° C Low: 73° F/23° C
S
E
W
WEST PALM BEACH
E
The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.
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.
W
W
uV inDex toDay
TUESDAY
N
N
| Go to AccuWeather.com
TONIGHT
High: 87° F/31° C Low: 75° F/24° C
High: 83° F/28° C Low: 73° F/23° C
MIAMI
High: 87° F/31° C Low: 73° F/23° C
6‑12 knots
KEY WEST
High: 84° F/29° C Low: 77° F/25° C
ELEUTHERA
NASSAU
High: 83° F/28° C Low: 73° F/23° C
Forecasts and graphics provided by AccuWeather, Inc. ©2022
N
Ht.(ft.)
Low
Ht.(ft.)
Today
8:29 a.m. 8:59 p.m.
2.6 3.5
2:39 a.m. ‑0.5 2:35 p.m. ‑0.8
Tuesday
9:19 a.m. 9:50 p.m.
2.6 3.5
3:30 a.m. ‑0.5 3:24 p.m. ‑0.8
Wednesday 10:11 a.m. 10:44 p.m.
2.5 3.4
4:22 a.m. ‑0.5 4:16 p.m. ‑0.7
Thursday
11:07 a.m. 11:40 p.m.
2.5 3.3
5:17 a.m. ‑0.4 5:12 p.m. ‑0.5
Friday
12:07 p.m. ‑‑‑‑‑
2.4 ‑‑‑‑‑
6:15 a.m. ‑0.2 6:12 p.m. ‑0.2
Saturday
12:39 a.m. 1:12 p.m.
3.1 2.4
7:15 a.m. ‑0.1 7:17 p.m. 0.0
Sunday
1:41 a.m. 2:20 p.m.
3.0 2.4
8:17 a.m. 8:27 p.m.
0.0 0.2
sun anD moon Sunrise Sunset
6:25 a.m. Moonrise 7:48 p.m. Moonset
8:43 p.m. 6:41 a.m.
Full
Last
New
First
May 16
May 22
May 30
Jun. 7
CAT ISLAND
E
W
High: 83° F/28° C Low: 78° F/26° C
N
S
E
W
8‑16 knots
S
7‑14 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.
Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 82° F/28° C Low .................................................... 76° F/24° C Normal high ....................................... 84° F/29° C Normal low ........................................ 71° F/22° C Last year’s high ................................. 87° F/31° C Last year’s low ................................... 72° F/22° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ............................................... 13.80” Normal year to date ..................................... 7.25”
High: 82° F/28° C Low: 77° F/25° C
"We initially started the planning in 2007, so watching the designs and concepts transform, evolve and go from paper to reality is a great accomplishment for the entire team involved with the project," said DeCourcy Graham, Olympia Gaming's chief operating officer. RED Development, which developed The Outlets at Legends, expects to see a boost in business at the movie theater, shops and restaurants in the outdoor mall, said Scott Rehorn, its managing partner for leasing.
ANDROS
SAN SALVADOR
GREAT EXUMA
High: 84° F/29° C Low: 78° F/26° C
High: 84° F/29° C Low: 76° F/24° C
N
High: 80° F/27° C Low: 74° F/23° C
E
W S
LONG ISLAND
tracking map
High: 85° F/29° C Low: 79° F/26° C
8‑16 knots
MAYAGUANA High: 84° F/29° C Low: 80° F/27° C
Shown is today’s weather. Temperatures
CROOKED ISLAND / ACKLINS
are today’s highs and tonight’s lows.
RAGGED ISLAND High: 84° F/29° C Low: 78° F/26° C
High: 85° F/29° C Low: 79° F/26° C
GREAT INAGUA High: 86° F/30° C Low: 78° F/26° C
N
E
W
E
W
N
S
S
4‑8 knots
4‑8 knots
marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR
Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday:
WINDS S at 7‑14 Knots SW at 4‑8 Knots SW at 8‑16 Knots S at 6‑12 Knots SE at 7‑14 Knots S at 6‑12 Knots SE at 8‑16 Knots NNW at 3‑6 Knots SSE at 7‑14 Knots SSW at 3‑6 Knots SSW at 6‑12 Knots SW at 7‑14 Knots SE at 7‑14 Knots SSE at 4‑8 Knots SE at 4‑8 Knots NNW at 4‑8 Knots SE at 7‑14 Knots SE at 3‑6 Knots SE at 10‑20 Knots SSE at 6‑12 Knots S at 7‑14 Knots SSE at 3‑6 Knots SE at 4‑8 Knots ENE at 4‑8 Knots SE at 8‑16 Knots S at 4‑8 Knots
WAVES 2‑4 Feet 2‑4 Feet 1‑2 Feet 0‑1 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 1‑3 Feet 3‑5 Feet 2‑4 Feet 1‑2 Feet 1‑2 Feet 1‑2 Feet 0‑1 Feet 1‑3 Feet 1‑2 Feet 1‑3 Feet 1‑2 Feet 3‑6 Feet 3‑5 Feet 1‑2 Feet 0‑1 Feet 1‑2 Feet 1‑2 Feet 1‑3 Feet 0‑1 Feet
VISIBILITY 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 4 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles
WATER TEMPS. 80° F 79° F 83° F 84° F 81° F 81° F 83° F 83° F 80° F 80° F 81° F 82° F 82° F 83° F 84° F 84° F 82° F 83° F 81° F 81° F 82° F 81° F 82° F 84° F 81° F 81° F