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VOLUME:117 No.120, MAY 18TH, 2020
8 HOME
THE PEOPLE’S PAPER: $1
SPORT: I WOULD LOVE TO BE HOME, SAYS ANTOAN
PAGES
OPENING UP PM sets target date of July 1 to reopen borders
• Family Islands get approval to start business • Bimini given food guarantee as 14 day closure begins • New COVID card will allow travel to specific locations By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net GOVERNMENT officials are considering resuming commercial travel in the country “on or before” July 1, Prime Minister Dr Hubert Minnis announced yesterday as he revealed the government’s long-awaited plans to “gradually” resume domestic travel. Dr Minnis also announced the implementation of a COVID-19 travel card that will facilitate domestic travel. People can begin registering for this card, which requires a doctor’s examination,
on Wednesday. He made the revelations during a national address after announcing no new COVID-19 cases in the country for the fourth consecutive day. Noting that the country is continuing to make progress against the COVID-19 threat, Dr Minnis said officials have already begun implementing components of phase 2 of his administration’s phased plan for re-opening. However, he said numerous factors will influence when the country will move on to the fifth and final SEE PAGE THREE
HO&USE
IN THE BAG - GLOBAL HAS PORT FUNDING By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
NASSAU Cruise Port’s top executive yesterday hailed the “monumental achievement” in beating its $130m capital raising target amid the economic turmoil created by the COVID-19 pandemic. Michael Maura told Tribune Business that the Prince George Wharf developer’s bond offering, which “exceeded” its fund-raising goal through being oversubscribed, had provided sufficient sufficient financing to “carry us” for 16 months of intensive capital upgrades to The Bahamas’ main gateway. He explained that this would include both demolition and marine works plus the reclamation of land that will be the site for the cruise port’’s food, retail and entertainment attractions. FULL STORY - SEE BUSINESS
WARNING NEW LOANS COULD BE EXPENSIVE By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
LOST TO DORIAN INSIGHT: Astrid Stratton lost her life to the deadly storm but the whereabouts of her body, just like many others on the island, is still a mystery. Read Leandra Rolle’s report on Page 8
FEARS have been raised that the government’s debt costs may double with any new COVID-19 foreign currency borrowings it undertakes as a result of unfavourable secondary market conditions. Tribune Business has obtained data showing that Bahamian dollar bond debt with various maturities is being traded at significant discounts compared to its ‘face value’ at the time it was first issued. FULL STORY - SEE BUSINESS
DOUGLASS NAMED FOR US AMBASSADOR Don’t PRESIDENT Donald Trump has announced his intention to nominate entrepreneur and philanthropist William A Douglass as US ambassador to The Bahamas. Mr Douglass, of Florida, founded K2 Advisors in 1994 and managed it for more than two decades before selling it to Franklin Templeton Investments in 2012. Earlier in his career, Mr Douglass was managing
WILLIAM A DOUGLASS director of Caspian Securities LLC. He also was a managing director for
Tiedemann International Research for whom he first managed their office in Tokyo, Japan, and then co-managed their United States business in New York. Mr Douglass has close ties to The Bahamas and has been visiting Eleuthera since 1962. He is the grandson of Pan Am founder and South Eleuthera resident Juan Trippe, who died in 1981. SEE PAGE SEVEN
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