07232020 BUSINESS

business@tribunemedia.net

THURSDAY, JULY 23, 2020

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Marinas ‘stave off’ border close fears

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMIAN marinas yesterday said they had managed to “stave off” any major fall-out from international media reports that this nation was closing its borders to all US travellers due to COVID-19.

Peter Maury, the Association of Bahamas Marinas (ABM) president, told Tribune Business his phone had been ringing “non-stop” on

Sunday evening after word spread that all transportation links between the US and Bahamas would be severed.

He said himself and other industry players had managed to “calm down” yacht brokers and captains relatively quickly by informing them that the prime minister had confirmed The Bahamas was still open for private boats and yachts from the US, as well as charter flights and private aviation.

SEE PAGE 6

‘No surprise’ if NIB pays out $100m

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday said he will “not be surprised” if the National Insurance Board (NIB) ends up paying out $100m in benefits to Bahamians as a result of the COVID-19 pandemic.

Brensil Rolle, minister of the public service and national insurance, told the House of Assembly that the income support being

provided by the social security system from its own resources was likely to increase significantly beyond the $78m already paid-out to some 36,000 claimants.

He explained that NIB had originally budgeted to pay-out just $16m in various benefits during the whole of 2020 just prior to COVID19 hitting, and issuing $78m - almost five times’ this sum - in just three months will “have a great impact” on its

SEE PAGE 6

Union chief: 2020 is total ‘write-off’ for tourism sector

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE hotel union’s president branded 2020 as “a complete write-off” for tourism as more major hotel properties yesterday either extended their closures or unveiled plans to shut yet again.

Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) chief, told Tribune Business that the government’s decision to close the country’s borders to US commercial air transportation with effect from yesterday represented “a devastating blow to say the least” for the tourism industry and its employees.

His comments came just prior to other large Paradise Island properties confirming that they planned to follow Atlantis’ lead and either extend their shut down, or close once more, due to the loss of commercial air links to a US market that accounts for 82 percent

DARRIN WOODS of this nation’s visitors.

Jermaine Wright, general manager at Comfort Suites on Paradise Island, told potential guests in a July 20, 2020, letter that the resort was copying Atlantis by scrubbing its planned July 31 re-opening in favour of an extended closure with no set date for its re-opening.

“The COVID-19 global health pandemic continues to usher in a rapidly-changing environment that impacts all of us, most notably you, our valued guests,” he wrote. “We have been continually monitoring the substantial upsurge in

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2020 ‘a bust’ for vacation rentals

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A

“LIFELINE for the Bahamian tourism economy” has suffered the “biggest hit” possible as a result of the government’s border closure for US commercial transportation, a top realtor warned yesterday.

John Christie, HG Christie’s president and managing broker, told Tribune Business that 2020 was going to be “a bust” for the Bahamian vacation rental market given that its clients relied heavily on commercial aviation links to access this nation.

He said the loss of such US connections would

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JOHN CHRISTIE

• ‘Tourism lifeline’ takes ‘biggest hit’ in US cut-off • Bahamian entrepreneurs face ‘massive impact’ • Guests relied heavily on commercial transport have a “massive impact” on a sector that has given multiple Bahamians an opportunity to have an ownership stake in the tourism industry, and which is perfectly set-up to offer the social distancing and other health-related protocols required by a COVID-19 environment.

Noting that Airbnb and other vacation rental owners had just started to see guests returning prior to yesterday’s US commercial transportation cut-off, Mr Christie said Canada, the UK and Europe were likely

to provide a limited substitute for American guests.

Pointing out that Canadian travellers, as an example, face further obstacles to visiting The Bahamas as a result of the 14-day quarantine they must undergo upon their return home, he added that the stop-start nature of this nation’s re-opening and similar issues elsewhere were also likely to deter potential vacation rental clients.

While much focus has been placed on Atlantis’ decision to extend

its closure until possibly November, and the decision of some other major resort employers to follow suit following yesterday’s US commercial transportation cut-off, the move will just as greatly impact Bahamianowned operations that were becoming increasingly popular with visitors prior to the COVID-19 pandemic.

“It’ll affect the Airbnb market for sure,” Mr Christie told this newspaper of the government’s move.

“All the locals were just

SEE PAGE 4

BPL delinquencies may force further govt help

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE government may be forced into giving Bahamas Power & Light (BPL) a further bail-out if too few of its 16,000 delinquent customers pay-off their arrears, a Cabinet minister warned yesterday.

Desmond Bannister, minister of works, told Tribune Business that businesses and households under COVID19 related financial stress must “live up to their responsibilities” and be proactive in addressing their debt rather than simply hope BPL will not disconnect them.

Adding that he “expects Bahamians who can pay, will pay”, Mr Bannister reiterated that collecting on outstanding bills was “the

• Minister: ‘Those who can pay must pay’ • Taxpayer pressure if too few settle arrears • Says it’s ‘only way for BPL to survive’

DESMOND BANNISTER only way BPL can survive” and continue to provide electricity to its customer base.

He also urged Bahamians to abandon the long-held belief that the government

will always have an inexhaustible supply of fund to bail-out BPL financially, adding that any monies used were not Public Treasury’s but actually belonged to the taxpayer.

The minister, who has Cabinet responsibility for BPL, said it was unfair to expect customers in good standing to continue shouldering a financial burden - via their taxes - for other who could pay but chose not to, or simply ignored the arrears owed to the stateowned energy monopoly.

And Mr Bannister warned that the government may

have to step in “to assist the utility” if too many persons either failed to address their debts or were forced to agree a payment plan, as opposed to paying their arrears off in full Speaking after Tribune Business revealed that just 78, or less than one percent, of the 16,000 customers facing disconnection had agreed a payment plan with BPL to-date, the minister told this newspaper: “I think the Bahamian people are going to appreciate their responsibilities and live up to them.

SEE PAGE 4

PAGE 2, Thursday, July 23, 2020

THE TRIBUNE

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LONDON Creek Bridge on Andros.

Photo: Riel Major

$2.1m Andros bridge now 60% completed THE $2.1m London Creek bridge in Andros is 60 percent completed, the government has announced, and is forecast to be finished by mid-September.

Desmond Bannister, minister of works, said a number of creek ecosystems in Andros had been blocked due to how roads had been constructed.

“The lack of openings to allow for uninterrupted water flow causes severe damage to the natural aquatic ecosystem, including increased sedimentation in the creeks, damage to the health of the mangroves and decrease of the fish larvae export of the lagoon,” Mr Bannister said.

SJK Engineering and Construction Services won the $2.127m contract for the project. The company’s owner, Stephen Knowles, confirmed that the flow of water through the London Creek ecosystem was interrupted by the construction of the road connecting North Andros to Central Andros many years ago.

“The project originally called for the erection of several culverts under the road. A culvert is a structure that allows water to flow under a road, railroad, trail or similar obstruction from one side to the other.

However, in the interest of allowing bone fish boats to traverse the creek, a decision was taken to design and construct a reinforced concrete bridge,” he added.

“The bridge is 60 percent completed, and the projected completion date of the bridge will be by mid-September. The entire project, inclusive of the roadworks, should be completed by November. We will need a month or so to do roadworks and it’ll take us a month or so to remove the cofferdam on the opposite side. We have to remove everything so

the water can flow naturally through the creek again.”

Mr Knowles added: “My team erected a high bridge so there will be four feet of water, instead of two feet of water, under the bridge, allowing clearance for any type of bonefish boat to travel underneath. This initiative is good for the environment because fish love to swim under bridges.

Another benefit is the bridge we contracted is a lot longer. We were originally going to do 150 feet but the bridge will be 200 feet.

“The erection of the London Creek bridge is designed to improve water flow in the area and allow the natural regeneration of the ecosystem. The safety of our environment and the well-being of our ecosystem is a top priority of the Ministry of Public Works.

Our teams are working diligently to ensure the construction is being done in a timely fashion.”

Nicholl’s Town resident, Alfred Wallace, said of the new construction: “I think everyone on the island will be grateful because everyone can flow through the island easily, and it’s good for the environment.

The government erected this bridge quickly, and I think they’re doing a good job. I’m quite satisfied with the progress here in Andros.”

Tareno White, another Nicholl’s Town resident, added: “This bridge is good for the animals that inhabit the mangroves surrounding the bridge, and also really good for the water flow.

This bridge should have been completed a long time ago by the previous government, but everything in its time. Mr Bannister doing some good things for the people living in Andros.”

THE TRIBUNE

Thursday, July 23, 2020, PAGE 3

Govt: Tax initiative saved 7,000 jobs THE government yesterday said it had managed to preserve more than 7,000 Bahamian jobs by providing businesses with $18m worth of COVID-19 relief via tax credits and deferrals.

The details were revealed as the Department of Inland Revenue announced that the second phase of its Tax deferral and exemption initiative will be expanded to include all qualifying VAT registrants with a turnover of $100,000 or greater.

The first phase, which

ended on June 30 to coincide with the 2019-2020 fiscal year close, was targeted only at firms with annual turnovers exceeding $3m and a minimum of 25 employees.

Qualifying businesses were able to withhold due VAT or outstanding business licence fees between April and June to enable them to meet payroll expenses.

The Department of Inland Revenue said the first phase saw the granting of $18m in total non-reimbursable tax credits and deferred taxes,

which enabled companies to keep more than 7,000 Bahamian employees on their payroll rather than sending them to the National Insurance Board (NIB) for benefits.

The tax deferrals and credits were split 50/50, meaning that the $9m worth of deferred tax payments will have to be paid back by those companies in 2021 via a 12-month payment plan to be agreed with the government.

The Department of

Inland Revenue added that the ongoing COVID-19 crisis had sparked the continuation, and expansion, of the initiative. Besides significantly lowering the qualifying turnover threshold, the initiative will also include hotels in an effort to provide payroll support, encourage employee retention and thus eliminate the need for further lay-offs.

And companies that may have received assistance under phase one can also apply for further assistance

in phase two.

“It is important to note that tax relief approvals will be based on staff complement rather than the turnover of businesses as previously granted under phase one,” the Department of Inland Revenue said.

“Additionally, there are certain categories of businesses that will not be eligible to receive assistance under this programme, including: food stores and food

wholesalers; pharmacies and related wholesalers; gaming houses; banks and financial entities; insurance companies and the regulated telecommunications sector.

“We want to assist as many businesses as we possibly can to retain as many of their employees that they are able to and encourage them to apply online at (http://atlas.revenue.gov.bs),” said Gaynell Rolle, Inland Revenue’s acting controller.

Construction trainers BAHAMAS TARGETING PRIVATE PILOT MARKET go into the classroom FIFTY-FOUR persons are participating in the Certified Craft Instructor training course’s second intake in a bid to close skills gaps and ensure Bahamians are employable.

The course, offered by the Bahamas Technical and Vocational Institute (BTVI), began on Monday, July 20, at SuperClubs Breezes. It is being taught

by Mark Hughes, pictured, the National Centre for Construction Education and Research (NCCER) master trainer and construction programmes manager, at Valencia College.

Jeffrey Lloyd, minister of education, in a virtual address said the craftsmen and women are being certified by international criteria that will enable them to meet global best practices and work anywhere in the world.

“Events in The Bahamas recently, in particular Hurricane Dorian last year September, and now COVID-19, have reinforced the need for us to build our

trades skills capability in this country. That’s why the government is addressing this very pressing need for certified training in the trades fields by having our trades teachers achieve the industry-led standard of the NCCER,” he said.

Dr Robert Robertson, BTVI president, said that over the past two years the institution has been working on delivering industryrecognised certified training. He added that there are many jobs available for trained certified tradespeople.

“The intent is to provide people with the training certification that will allow you to be the trainers of those students who will go out into the industry and work in the types of jobs that are available, particularly Abaco and Grand Bahama and elsewhere in The Bahamas,” Dr Robertson said.

“Industry certification is particularly important in all parts of the world as we hope to address a pressing and growing skills gap in the trades, particularly.”

Kevin Basden, BTVI’s chairman; Michael Pratt, president of the Bahamian Contractors Association (BCA) and Alexander Darville, BTVI’s dean of construction trades and workforce development, were in the line-up for the opening ceremony.

BTVI instructors, retired Royal Bahamas Defence Force Officers, representatives of One Eleuthera Foundation, officers from the Bahamas Department of Correctional Services, members of the Bahamian Contractors Association (BCA) and Ministry of Works employees are enrolled in the four-day course.

The training is based on the criteria of the NCCER, an internationally-recognised accrediting body that has designed standardised training and credentialing programmes for more than 70 craft areas.

NCCER is considered the training, assessment, certification and career development standard for construction and maintenance craft professionals.

THE Ministry of Tourism yesterday said The Bahamas is making its presence felt among one of the few sectors still allowed to bring US visitors to this nation.

Together with the Royal Bahamas Police Force (aviation arm), Bahamas Civil Aviation Authority and Bahamas Customs Department, the ministry said it was attending the world’s largest private aviation show - the the 51st Annual Experimental Aircraft Association (EAA) Air Venture Show - via a virtual platform.

The show has previously attracted in excess of 500,000 pilots, aviation enthusiasts, and media and industry professionals from around the world, and exhibited more than 10,000 airplanes.

The Ministry of Tourism said The Bahamas, with its more than 60 airports and 16 islands destination, is the top-ranked destination in the Caribbean and eastern seaboard for general aviators. It reopened its borders to private pilots and private boaters on June 15.

While The Bahamas closed its borders to international commercial airlines and vessels originating from the US with effect from

IFP Group at the EAA Air Venture Show yesterday, they remain open to private charters, private pilots and private boaters embarking from the that country.

Travellers on commercial airlines from Canada, the UK and European Union (EU) can also still enter The Bahamas. They must present a negative COVID-19 RT-PCR (swab) test from a credible, reference laboratory not more than ten days old. A completed Bahamas Health Visa application must be made 24-48 hours prior to embarkation, via www.bahamas.com/travelupdates.

The Bahamas, in conjunction with US federal government agencies, this year began pre-clearance customs and immigration services for private pilots traveling to and from the US to this nation.

The pre-clearance facilities are designed to make it easier, faster and less expensive to access the remote Family Islands. The preclearance facilities are located at Banyan Air Services, the Fort Lauderdale Executive Airport and Sheltair at the Fort Lauderdale Jet Centre.

Among some of The Bahamas’ specials and incentives being offered to pilots at its booth at the EAA Air Venture Virtual Show are a $150 credit for hotel stays in the Family Islands; a $300 fuel credit, dubbed Fly Almost Fee Free, for hotel stays of four nights or more at Out Island Promotion Board member hotels; and a Bahamas Flyaway $100 Avgas gift certificate at Odyssey Aviation, redeemable in Nassau or Exuma.

PAGE 4, Thursday, July 23, 2020

THE TRIBUNE

2020 ‘a bust’ for vacation rentals FROM PAGE ONE

getting ramped up, people were coming back in and then: Boom. They shut it down.

“Most of the Airbnb people are not able to charter in or come by private plane. It will have a massive impact on Airbnb bookings and shut it down. You might get the occasional Canadian booking, but they will have a problem getting back home because of the 14-day quarantine.

“I think that people are even scared to book because everything is so up and down, up and down,” he added, “so it will have a huge impact on the Airbnb market but not so much the high-end housing market. It directly impact Bahamians. Most of them [vacation rentals] are Bahamian-owned.

“Last year was a record year for many people, and this year is going to be a bust for them. People were opened, bookings were coming back in, and now they’ve had to close.”

Mr Christie said some vacation rental owners may have properties that were suitable for long-term

foreign tenants who can still access The Bahamas via air charter, private aviation or private boat/yacht. However, he warned that most will have little choice but to adapt to having zero to no income from their investments for the foreseeable future.

Noting that vacation rentals were ideally suited to addressing visitors’ COVID-19 concerns, Mr Christie told Tribune Business: “They’re going to feel the biggest hit... Everyone’s worried about COVID-19, and many don’t want to go into a busy, large hotel and be with people in an elevator.

“The Airbnb is the lifeblood for The Bahamas and the tourism economy, and more and more people will want to book that whenever we open back up. It is what it is. We’ll see.”

The Central Bank of The Bahamas, in its May monthly economic developments report, said Airbnb data showed a 62 percent year-over-year drop in room nights sold among its vacation rentals as the height of the initial COVID-19 lockdown and border closures bit.

“Specifically, total room nights sold contracted by 61.9 percent, reflecting reductions of 62.7 percent and 53.6 percent in bookings for entire place listings and hotel comparable listings, respectively,” the Central Bank said of the data provided by AirDNA. “In contrast, the average daily room rate (ADR) for entire place listings and hotel comparable listings firmed by seven percent and by 5.6 percent to $421.31 and $160.20, respectively. On a year-to-date basis, total room nights sold reduced by 18.2 percent.

“In particular, bookings for entire place listings fell by 19.9 percent, while bookings for hotel comparable listings were lower by 3.2 percent. Pricing indicators varied, as the ADR for entire place listings edged up by 0.6 percent to $399, while the ADR decreased by two percent to $156.15 for hotel comparable listings.”

Room nights sold are now likely to contract even further in upcoming months depending on how long the block on US commercial air and sea transportation lasts.

Meanwhile, despite expectations that the real estate market will soften due to COVID-19, Mr Christie said himself and his firm “still continue to be very busy” due to both local and international interest.

“We’d never have thought the upside is for more remote locations and island locations,” he told Tribune Business. “Remote, and a good place to hide away from COVID-19, are great. Before, everyone was asking where’s the nightclubs, where’s this, where’s that? Now it’s a totally different world.”

21st July, 2020

20th August, 2020

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BPL HEADQUARTERS

BPL delinquencies may force further govt help FROM PAGE ONE “Once the understand BPL is open for business and ready to take payment, I think people will live up to their financial obligations.

It’s the only way the utility can survive. I expect Bahamians who can pay will pay. I expect that will happen.

“When they cannot pay there’s an obligation upon them to make an arrangement with BPL. I think the government has to see, just speaking from my perspective, that people who are in that group [facing disconnection] are sufficiently interested that they will go in and make that arrangement.

That’s important for us to understand,” Mr Bannister continued.

“If you are subject to disconnection now that means you have not paid your bill for six months. The very least you can do is go in and make an arrangement with BPL. BPL has to continue to operate, has to continue to buy fuel, and continue to pay the salary of its employees. If you don’t have time to go in and make arrangements that says something else.”

BPL’s spokesperson, in an e-mailed response to Tribune Business inquiries, confirmed that just 78 clients had visited BPL and agreed payment plans across all three

categories facing loss of their electricity services.

Disconnections have already begun for the 11,400 customers who were $500 or more in arrears, and 90 days past due, prior to April 1 and the full onslaught of the COVID-19 pandemic plus associated lockdown.

These are those who Mr Bannister was referring to as having not paid their bill for six months.

Some 362 were disconnected as of Friday, and time is running out for 4,600 delinquent BPL customers in the other two categories to settle their arrears or make a payment plan. These are persons $500 or more in arrears since April 1, plus those who were on the government’s three-month COVID-19 bill deferral. Both groups have until July 28 to reach terms with BPL. Mr Bannister, reassuring those businesses and households suffering genuine COVID-19 financial hardship, said BPL knows it “can’t get water out of a stone” if they are able to make out “a reasonable case”.

“By the same token, where people can pay they have a civic responsibility to pay,” he reiterated. “I cannot tell you the figures out of my head, but the financial situation at BPL from the time it has been incorporated is dire. BPL has to find a way to work with its customers, and they have to find a way to work with BPL.” Asked whether the government may have to provide further financial assistance to BPL, Mr Bannister said much depended on how many delinquent customers either came in to pay off their arrears.

“If large numbers of people seek to stay at home and don’t make payment arrangements the utility has no choice but to take such action as to protect the revenue of the company,” he

told Tribune Business.

“If they come in, and large numbers of people seek to make arrangements, the government may have to look at an agreement to assist the utility..... It’s a challenging situation. The challenge can be lessened if people step forward. Then we’ll know where we truly are, and people are.”

But, warning that continual BPL bail-outs by the government made little sense, Mr Bannister added: “You and I are taxpayers.

If you and I are paying our bills or trying our best to put something on it, it is patently offensive for me to go to the Ministry of Finance and ask for millions of dollars that you, I and Mr X, Y, Z are going to have to pay back through our taxes because someone cannot go down to BPL and make an arrangement to pay.

“I think BPL is giving all of us an opportunity to come in and to work the situation out. But they can’t work with you unless you go in and say: ‘I want you to work with me’. From BPL’s perspective, we need to ensure the company survives.

“It cannot be the perspective that the government is the sole shareholder in BPL, and that it is going to continue to finance this company and everyone will get free electricity. It doesn’t make sense.”

Mr Bannister later voiced similar sentiments in the House of Assembly, saying: “The Ministry of Finance has already injected millions of dollars into BPL. People somehow think it’s the government’s money. It’s all our money.”

Acknowledging that it was “critical” for persons to have energy, he added: “It is important for us to not sit there and simply let BPL disconnect.... I don’t want to see anybody not have power.”

THE TRIBUNE

Thursday, July 23, 2020, PAGE 5

Union chief: 2020 is total ‘write-off’ for tourism sector FROM PAGE ONE

COVID-19 cases reported recently in our primary source market, the United States of America.

“Cases unfortunately have continued to increase.

This has regrettably impacted our proposed July 31, 2020, re-opening date and the ability to welcome you, our valued guests, back to your home away from home in paradise.”

Comfort Suites’ decision is likely to come as little surprise given that one of its key attractions is guest access to all the amenities at Atlantis, which is itself likely to be closed until November and the Thanksgiving holiday.

Meanwhile, fellow Paradise Island-based resort, the RIU Palace, in a letter to guests that was widely circulated on social media, said it planned to close with effect from next Tuesday, July 28. However, the Warwick Paradise Island property confirmed in a statement that it plans to remain open despite the loss of commercial air transport links to the US. “Warwick Paradise Island is currently open and operating with guests in-house and special offers for residents in the marketplace,”

said Benjamin Davis, the Warwick’s general manager. “No decision has been made to close our doors next week, which has been inaccurately reported by some members of the local media.”

Resorts World Bimini, meanwhile, indicated via its website that it remains open albeit on reduced hours from 2pm on Thursday to 5pm on Sunday. It hinted that it is relying on Tropic Ocean Airways charters to bring in sufficient guests to sustain a scaled-down operation.

However, the border closure to US air links, continued record COVD19 infection rates in major tourist source markets such as Florida and Texas, and the resultant resort closures will put hundreds of Bahamians back on the temporary furlough lines and even risk permanent termination for some.

Mr Woods told Tribune Business his fears about the inability of The Bahamas’ major visitor provider, the US, to bring COVID19 under control and the associated negative consequences for this nation’s largest industry were now being realised.

“The epicentre [of COVID-19] is now 45 minutes away from us,” he said.

“Earlier it was two to three hours away, but now it’s right on our doorstep and we’re seeing cases increase by thousands daily. We’re susceptible to that.

“This means [the hotel closures] we will now have more people home for longer. The hope was Atlantis re-opening would have a domino effect in the right direction. What we have now seen is them fall back because what they were seeing is not safe enough to re-open.

“It’s like a hurricane.

We’re getting the tail-end backlash from this pandemic, and we have to really buckle down and navigate through this. We don’t have a playbook for this. Everything is so fluid and changes by the day. It’s really how best we can steer through it.”

As for the government’s decision to close The Bahamas’ borders to US commercial traffic, Mr Woods added: “It’s a devastating blow to say the least.... Whatever we do 2020 is a complete writeoff. You wake up, go to sleep and hope it’s a bad dream, but unfortunately it’s reality.

“The reality is still to hit home as to how serious this pandemic is for the world and travelling public. We

will have persons unemployed for an extended period of time. We know we’re going to have some persons off till later in the year. While we do not know the numbers, they will be greater now.

“There’s absolutely nothing happening in the sector; nothing substantial or significant until later in the year at earliest. That shows the vulnerability of the tourism product. Persons can’t travel. Coupled with a health pandemic you have an economic crisis.”

Mr Woods said hotel workers had been “gung ho” on the announcements by many properties that they were going to re-open when the border restrictions were first lifted on July 1 due to the fact that, unless they did, they were likely to remain shut until fall/November because of the traditional slow season from August to October.

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• Note taking at legal hearings, client meetings and interviews and maintaining relevant records.

• Maintain client documentation.

• Necessary correspondence with clients, tracking of client correspondence and sending documents via e-mail, fax or post.

• Compiling, verifying and categorizing data.

• Duties also include scheduling appointments, receiving and making telephone calls, drafting and typing office memos, and other administrative duties.

• It also includes assisting in the preparation of reports and documents that letters of incorporation.

Skills and Educational Requirements The candidate must have: • At least eight (8) year’s experience as a Legal Secretary with previous employer.

• Strong organizational abilities with an eye for detail.

• Effective time management to meet important deadlines.

• Effective communication skills with superiors and clients, are essential.

• The ability to grasp new concepts for quick learning, good comprehension and writing abilities, and proficiency while using computers, fax machines, copiers, scanners and work related software and the latest technologies.

• Must be able to drive and have a valid driver’s license.

• The minimum educational qualification required to become a legal secretary is a high school diploma and have past at least 4 BGCSE’s.

Please send resume to email: oipjobopportunity@yahoo.com

PAGE 6, Thursday, July 23, 2020

THE TRIBUNE

Marinas ‘stave off’ border close fears FROM PAGE ONE

“I think we were able to stave off the initial fear among the industry that the borders were shutting down completely,” Mr Maury explained.

“I had a ton of captains call me, a lot of brokers and captains calling, as soon as the announcement went out. It was non-stop.

“Through the ABM website we were able to get the word out that it was not going to affect private yachts, charter, and private aviation. It definitely calmed down. It did calm down. But not at 6pm. It was not fun. It was non-stop every marina executive, boat and yacht captain. I came

down the marina [Bay Street] and talked to a bunch of guys.

“The good thing about about the yachting community is it’s pretty tight. You get the message out to a couple of people and they spread it.

Yacht captains talk to each other all the time. With a couple of calls they can hit up 100 guys and give them the right information, so there was not complete panic.”

The “panic” seemed to be largely sparked by a CNN TV report read by anchor Wolf Blitzer, which has been seen

by Tribune Business, in which he said The Bahamas was closing its borders to all Americans because the US was considered a COVID-19 hot spot. He did not distinguish

NOTICE NOTICE is hereby given that TANEIKA SIMON of Bacardi Road, P.O. Box N-3199, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 16th day of July, 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

between commercial and private transportation, as the minister did in his speech.

The Ministry of Tourism yesterday confirmed in a statement that it had initiated a public relations blitz to ensure international media were “accurately reporting” American visitors can come to The Bahamas via private transport and if they have the necessary negative COVID-19 PCR swab test.

“The Ministry of Tourism has launched an aggressive media campaign to reach key markets in the US to inform travellers of entry requirements and travel permissions applicable to them,” the Ministry said in a statement.

“The Ministry of Tourism and Aviation and its communications team have focused their efforts on the widespread distribution of accurate information regarding the prime minister’s executive orders to contacts in broadcast, national, regional and local markets reflecting that US travellers are permitted to visit The Bahamas via private air and sea....

“The private aviation and boating communities have long been an important part of The Bahamas’ tourism economy. Through this outreach, the Ministry is encouraging those who are permitted to visit The Bahamas to consider the destination for their summer or fall vacation plans.”

‘No surprise’ if NIB pays out $100m FROM PAGE ONE $1.7bn reserve fund.

Issuing a warning against benefits fraud, Mr Rolle said himself and NIB had been disturbed to learn that some employers had sent workers home with work to do but were using the social security system to pay them instead of providing their normal salary.

While he did not identify any companies allegedly involved in this practice, the minister also confirmed that an extra 5,000 persons will be eligible for enrollment in the government’s unemployment extension initiative after the start date was rolled back ten days to March 13, 2020.

“What we did not anticipate was the amount of lay-offs that occurred before the shut down,” Mr Rolle told the House. This was reiterated by NIB, which said in a statement: “The National Insurance Board, after consultation with the Ministry of Finance, is pleased to advise that the government Unemployment Extension Programme will be extended to persons whose last day at work was Friday, 13 March.

BRENSIL ROLLE “Our previous preenrolled customers included only those persons who were laid off after the lockdown as at March 23, 2020. Some 28,800 persons were preenrolled in the programme, and with this expansion NIB estimates that another 5,000 persons will now become eligible – bringing the total

NOTICE Notice is hereby given that BGRS Certificate No. 89-104 in the amount of $30,000.00 is lost.

If this Certificate is found, please write to P.O. Box N-682, Nassau, Bahamas.

eligible enrollment to just over 33,800 persons.”

With NIB acting as “the social safety net for thousands of ordinary Bahamians”, Mr Rolle acknowledged “some frustration, some complaints” from claimants failing to receive what they believed was due to them, or not getting benefits in a timely manner or at all.

Promising that approved claimants would receive the 13 weeks’ benefit payments due to them if they remained unemployed that long, the minister said his own inquiries had revealed some complaints lacked merit.

After investigating one complainant, who had indicated they had not received anything, Mr Rolle said he was “totally surprised” to find they had already been given ten weeks’ worth of payments and that cheques for the final three were being processed by NIB. “Listening to the person, I got the impression NIB had done absolutely nothing for them,” he added.

Upon challenging the individual, the minister said they merely complained they were not getting their benefits fast enough.

To advertise in The Tribune, contact 502-2394

THE TRIBUNE

Thursday, July 23, 2020, PAGE 7

United sees revenue stalling at 50% without a virus vaccine

Associated Press

UNITED Airlines executives said yesterday that travel will rise when the number of new coronavirus cases drops but the airline’s revenue will stall around 50% of pre-pandemic levels until there is a vaccine.

No doubt United would settle for half of normal sales right now. Its revenue plunged 89% in the second quarter, pushing the Chicago company to a $1.6bn loss.

Air travel was slowly recovering until the number of confirmed coronavirus cases in the US surged, especially in the Sun Belt, starting around late June.

New York, New Jersey and Connecticut now require visitors from 31 states to quarantine themselves for 14 days upon arrival, and other states have similar edicts.

About 530,000 people went through US airport security checkpoints on Tuesday, the lowest number in July other than the Independence Day holiday, and down 78% from a year ago.

United executives said the setback will be only temporary.

“We do expect that demand recovery, which stalled in recent weeks,

A TRAVELER wears a mask and protective goggles as he walks through Terminal 3 at O’Hare International Airport in Chicago. United Airlines says its face mask requirement now extends to ticket counters and airport lounges. United said yesterday that it might ban violators from flying on its planes. United and all other major US airlines already require passengers to wear masks during flights.

Photo: Nam Y Huh/AP will begin to recover again when new cases start to fall, quarantines are lifted, and borders are reopened,” Andrew Nocella, the airline’s chief commercial officer, said yesterday on a call with analysts and reporters.

Nocella said United’s revenue will rise to 50% of normal “over time” and stay there until there is a vaccine for COVID-19, the

disease produced by the coronavirus.

United and other airlines are trying to persuade consumers that air travel is safe.

CEO Scott Kirby said that filtration systems and airflow patterns inside planes make them safer than restaurants, office buildings, “or even a hospital”.

“It really is one of the safest places you can be if you are going to leave your

house,” Kirby said.

Passengers have criticized United for booking planes full when it can.

American does the same, while Delta, Southwest and JetBlue block some seats to

create more space between passengers. United said it limits full flights by substituting larger planes — 4,000 times in May and June, it said.

United said its average flight from April through June was 35% full and it estimates the July average will be 45%.

United is focused on reducing costs to survive the downturn in travel. The airline estimates it will lose $25m a day during the third quarter, down from $40m a day in the second quarter.

Labor is the biggest single expense for most airlines, and United last week warned 36,000 employees that they could be furloughed in October. The company said 6,000 have taken severance packages to leave and will be paid through November.

United shares fell more than 4% yesterday while shares of other largest US airlines fell by less than 1%.

United also announced yesterday that it is expanding its rule on

face coverings. Passengers will have to wear face masks at ticket counters, baggage-claim areas and in its airport lounges or risk being banned from flights. Delta, JetBlue and Southwest already have similar requirements. All the familiar US airlines require passengers other than small children and those with certain health problems to wear a mask during flights except while eating or drinking.

Kirby said United has seen “very high compliance” with the rule.

“We have had fewer than 30 that we have had to actually take action against,” he said. “We will welcome them back when this is all over and masks aren’t required.”

Delta Air Lines CEO Ed Bastian told NBC that his airline has banned more than 100 people for not wearing face masks.

This week, Delta began additional screening of passengers who claim that a health issue prevents them from wearing one.

PAGE 8, Thursday, July 23, 2020

THE TRIBUNE

Governor: Schools need flexibility on stronger mask rules

To advertise in The Tribune, contact 502-2394 LEGAL NOTICE

LITTLE ROCK Associated Press

LEGAL NOTICE

NOTICE

NOTICE

ZUPREEM WEALTH MANAGEMENT LTD.

Hedif International Investment Business Ltd. In Voluntary Liquidation

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ZUPREEM WEALTH MANAGEMENT LTD. is in dissolution as of July 16, 2020 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Hedif International Investment Business Ltd. is in dissolution as of July 16, 2020 GESTAM ADMINISTRATION LTD with address at Suite 102, Saffrey Square, Bank Lane & Bay Street, Nassau, Bahamas is the Liquidator.

LIQUIDATOR _____________________

LIQUIDATOR _____________________

LEGAL NOTICE

LEGAL NOTICE

NOTICE

NOTICE

Golden Rabba Investments Ltd.

ALTERPAC LIMITED

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Golden Rabba Investments Ltd. is in dissolution as of July 13, 2020

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ALTERPAC LIMITED. is in dissolution as of July 13, 2020

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

GESTAM ADMINISTRATION LTD with address at Suite 102, Saffrey Square, Bank Lane & Bay Street, Nassau, Bahamas is the Liquidator.

LIQUIDATOR _____________________

LIQUIDATOR _____________________

In Voluntary Liquidation

In Voluntary Liquidation

ARKANSAS’ governor yesterday said he believes it should remain up to local school districts rather than the state whether to require all students to wear masks to prevent the spread of coronavirus when classes resume next month.

Gov Asa Hutchinson said he doesn’t think a broad rule on masks for students should be issued statewide, despite a recommendation from pediatricians for a stricter requirement in K-12 schools. Arkansas this week began requiring masks to be worn in public when social distancing isn’t possible, but the order exempts children under ten.

Hutchinson said some schools may have enough room for students to socially distance in class without requiring a mask.

“I think there ought to be some flexibility for the social distancing and the environment the students are in,” Hutchinson said, who noted some districts have already approved such requirements. “I think there has to be some flexibility there.”

The Arkansas chapter of the American Academy of Pediatrics on Tuesday recommended stronger mask requirements for K-12 students as the group said it couldn’t support a

return to in-person classes next month.

“Perfection is not required, but masks are the state’s best tool to prevent spread,” the group said Tuesday.

Hutchinson said he’s reviewing some of the group’s other suggestions.

The Department of Health said at least 35,240 people have tested positive for the virus, an increase of 591 confirmed cases since Tuesday. The department said 6,876 of those cases are active, meaning they don’t include people who have died or recovered.

The true number of cases in Arkansas is likely higher because many people have not been tested, and studies suggest people can be infected and not feel sick.

The number of deaths in the state from COVID-19, the illness caused by the virus, rose by six to 380.

The number of people hospitalized decreased by 14 to 474.

For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death. The vast majority of people recover.

LEGAL NOTICE

NOTICE

CASUARINA VALLEY INC. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, CASUARINA VALLEY INC. is in dissolution as of July 13, 2020

MARKET REPORT

International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

www.bisxbahamas.com

(242) 323-2330

WEDNESDAY, 22 JULY 2020

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,099.07 | CHG: 3.82 | %CHG: 0.18 | YTD: -132.53 | YTD%: -5.94 BISX LISTED & TRADED SECURITIES 52WK HI 4.20 22.65 2.00 1.79 2.50 6.00 6.75 5.47 8.59 4.50 6.16 12.77 3.64 5.10 10.88 8.44 16.99 4.25 9.40 15.21

52WK LOW 3.13 20.91 0.67 1.79 1.67 5.40 5.39 2.00 5.05 3.62 5.60 11.05 2.71 2.31 8.00 7.10 13.04 3.20 8.00 13.90

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.00

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

SYMBOL LAST CLOSE AML 3.15 APD 17.43 BBL 1.62 BFH 1.79 BOB 1.67 BPF 6.00 BWL 6.75 CAB 2.76 CBB 5.05 CBL 3.87 CHL 6.16 CIB 11.26 CWCB 2.52 DHS 5.10 EMAB 10.07 FAM 8.44 FBB 14.50 FCL 3.80 FIN 8.97 JSJ 15.20 BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CLOSE 3.15 17.43 1.62 1.79 1.67 6.00 6.75 2.76 5.05 3.90 6.16 11.26 2.46 5.10 10.02 8.44 14.50 3.80 8.97 15.20

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00 -0.06 0.00 -0.05 0.00 0.00 0.00 0.00 0.00

27,209

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

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: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-7Y

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

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

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

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

VOLUME

1,000

VOLUME

EPS$ 0.239 0.932 0.000 0.000 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

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

P/E 13.2 18.7 N/M N/M N/M N/M 18.3 -6.3 36.1 21.2 13.7 15.6 24.1 10.9 15.5 11.6 17.8 18.7 9.6 24.1

YIELD 5.40% 7.23% 1.23% 0.00% 0.00% 0.00% 3.85% 0.00% 0.00% 3.08% 3.57% 6.39% 17.64% 1.18% 3.27% 2.84% 3.72% 3.16% 2.23% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

MATURITY

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.50% 6.25% 3.50% 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-2022 26-Jun-2045 15-Oct-2018 15-Oct-2022

LIQUIDATOR _____________________ LEGAL NOTICE

NOTICE

O.P.I. HOLDINGS LTD. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, O.P.I. HOLDINGS LTD. is in dissolution as of July 16, 2020 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR _____________________

MUTUAL FUNDS 52WK HI 2.31 4.40 2.10 198.39 168.29 1.69 1.85 1.77 1.24 8.34 10.26 7.08 12.15 12.71 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.64 1.77 1.72 1.07 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 2.31 4.39 2.10 192.52 145.55 1.69 1.81 1.77 1.07 8.30 9.90 7.08 11.27 12.71 10.23 N/A 8.31 10.01

YTD% 12 MTH% 1.04% 3.87% 0.61% 2.93% 0.50% 2.50% -1.34% 2.23% -12.71% -5.79% 1.88% 3.90% -2.26% 2.49% 0.76% 3.56% -11.03% -8.03% -0.45% 8.36% -3.20% 11.46% 2.10% 5.15% -6.17% 3.54% 2.92% 5.55% -4.66% -3.81% N/A N/A -10.90% -4.30% -18.80% -12.00%

MARKET TERMS

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

YIELD - last 12 month dividends divided by closing price

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

Bid $ - Buying price of Colina and Fidelity

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

Ask $ - Selling price of Colina and fidelity

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

Last Price - Last traded over-the-counter price

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

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

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

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

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

N/M - Not Meaningful

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

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

NAV Date

31-Mar-2020 31-Mar-2020 27-Mar-2020 31-Mar-2020 31-Mar-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020

LEGAL NOTICE

NOTICE

Beyond Investments Ltd. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Beyond Investments Ltd. is in dissolution as of July 13, 2020 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR _____________________

THE TRIBUNE

Thursday, July 23, 2020, PAGE 9

Tesla picks Texas site for second US vehicle assembly plant

By TOM KRISHER Associated Press ELECTRIC car maker Tesla Inc has picked the Austin, Texas, area as the site for its largest auto assembly plant employing at least 5,000 workers.

The new factory will build Tesla’s upcoming Cybertruck pickup and will be a second US manufacturing site for the Model Y small SUV, largely for distribution to the East Coast.

Tesla will build on a 2,100-acre (85-hectacre) site in Travis County near Austin and will get more than $60m in tax breaks from the county and a local school district over the next decade. Work on the plant, which will be over four million square feet, is already underway, Tesla CEO Elon Musk said.

He did not put a number on how many vehicles the facility would produce.

“Long term, a lot,” Musk said.

The company has pledged to invest $1.1bn and said it will pay a minimum wage of $15 per hour to employees and provide health insurance, paid leave and other benefits.

The area that’s home to the University of Texas at Austin and tech companies such as Dell Inc was a candidate for the plant all along, but Tulsa, Oklahoma, emerged in mid-May as another possibility.

Tesla doesn’t have a lot of time to get the factory running if it wants to meet target production dates.

The company says on its website that the Cybertruck will be available starting late next year. Tesla has often missed promised production dates in the past.

Musk has reportedly been happy with Texas, where his SpaceX rocket company has operations in Brownsville and in McGregor north of Austin.

The new factory will be Tesla’s biggest so far, although it may not employ as many workers as the 10,000 at its factory in Fremont, California. The electric car maker has said it wants the new factory to be in the center of the country and closer to eastern markets.

The Fremont factory currently is Tesla’s only US assembly plant. It has a second US factory in Reno, Nevada, where it builds batteries for its vehicles

and employs about 6,500 people. Tesla also has a factory in Shanghai and another one under construction in Germany.

Musk has been unhappy with California, where earlier this year he flouted local orders to stay closed to help stem the spread of the novel coronavirus.

Musk has threatened to move the company’s headquarters out of Palo Alto and all future vehicles out of the plant in Fremont, a reworked factory that once was run jointly by Toyota and General Motors.

Republican Texas Gov Greg Abbott has not allowed cities and counties to impose local orders that would close businesses as the virus began surging to record levels this summer.

The state did not give Tesla any additional financial incentives, Abbott spokesman John Wittman said.

“Tesla is one of the most exciting and innovative companies in the world, and we are proud to welcome its team to the State of Texas,” Abbott said in a statement.

Texas has no corporate or individual income taxes.

It also touts the region’s young workforce as one of the most educated in the country. Nearly 47% of adults have at least a bachelor’s degree, pushing Austin into the top ten among large metro areas, the site says. But at present, Tesla can’t legally sell its vehicles in Texas. A state law requires cars to be sold through franchised dealers, not company stores like Tesla operates.

Tulsa put up a good fight, but may have been used to win better terms from Texas. Oklahoma boasts about its low tax rates and cost of living, particularly low utility costs. Musk even visited the Tulsa site earlier this month.

Oklahoma hasn’t had an auto manufacturer in the state since General Motors shuttered its Oklahoma City facility in 2005, but Tulsa is home to an American Airlines maintenance facility that employs about 5,200 workers.

To advertise in The Tribune, contact 502-2394

GN-2415

THE TRIBUNE

Thursday, July 23, 2020, PAGE 13

YOUR

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

GN-2410

GOVERNMENT NOTICE PUBLIC TREASURY PUBLIC NOTICE The Treasurer of the Commonwealth of The Bahamas advises that in compliance with the established Government Covid-19 protocols on social distancing, the Pension Verification Exercise July 2020 for all Bahamas Government Pensioners, has been deferred until January 2021.

NOTE: ALL PENSIONERS WHO VERIFIED DURING THE JANUARY 2020 PENSION VERIFICATION EXERCISE WILL CONTINUE TO RECEIVE THEIR MONTHLY PENSION FOR THE PERIOD JULY 2020 TO DECEMBER 2020.

Pensioners may contact the Pension Section, Treasury Department, Nassau, at telephone numbers (242) 302-0519, 302-0521, 302-0554, 302-0566 or 302-0539 with any questions or concerns that they may have.

Want to increase your Sales?

Advertise your Business in The Bahamas leading newspaper in circulation, or on Tribune242.com. Call our Advertising Department on 502-2350/502-2394 for more information.

THE TRIBUNE

Thursday, July 23, 2020, PAGE 19

MICROSOFT WEATHERS PANDEMIC, BEATS WALL STREET EXPECTATIONS REDMOND Associated Press MICROSOFT said the coronavirus pandemic has increased demand for its flagship products, reporting quarterly earnings yesterday that beat Wall Street expectations.

The software giant said an ongoing trend of working and learning from home has fueled increased demand for its cloud computing services and workplace productivity products, such as email and video conferencing.

But the pandemic has also slowed sales of those products to smaller businesses, and eaten into the advertising revenue that powers its

on advertising.

LinkedIn announced on Tuesday it is laying off nearly 1,000 employees, approximately 6% of its workforce globally. The job cuts take effect in August and will hit global sales and hiring sections of the company.

The pandemic has made other parts of Microsoft’s business more appealing, including Xbox games and its workplace videoconferencing service known as Teams. One of its rivals, workplace chatting service Slack, filed a complaint against Microsoft yesterday in the European Union, accusing the software giant of

MICROSOFT CEO Satya Nadella looks on during a video as he delivers the keynote address at Build, the company’s annual conference for software developers in Seattle.

LinkedIn career networking service.

Microsoft yesterday reported fiscal fourth-quarter profit of $11.2bn, or $1.46 per share, beating Wall Street expectations of

$1.34 a share.

It posted revenue of $38bn in the April-June period, up 13% from last year. Analysts had been looking for revenue of $36.5bn, according to FactSet.

The company said its commercial cloud business surpassed $50bn in annual revenue for the first time.

But its LinkedIn service was hit by a weak job market and less money being spent

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 88° F/31° C Low: 77° F/25° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

MONDAY

Clouds and sun with a thunderstorm

Partly cloudy with a shower

Partly sunny with a thunderstorm

Some sun with a shower or t‑storm

Some sun with a t‑storm in spots

Sunny to partly cloudy

High: 88°

Low: 77°

High: 89° Low: 77°

High: 89° Low: 78°

High: 90° Low: 78°

High: 90° Low: 78°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

97° F

83° F

99°-84° F

98°-86° F

101°-87° F

101°-87° F

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

N

almanac

E

W

ABACO

S

N

High: 86° F/30° C Low: 82° F/28° C

8‑16 knots

S

High: 88° F/31° C Low: 79° F/26° C

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FT. LAUDERDALE

FREEPORT

High: 86° F/30° C Low: 80° F/27° C

N E S

E

W

WEST PALM BEACH

W

uV inDex toDay

TONIGHT

High: 89° F/32° C Low: 77° F/25° C

High: 89° F/32° C Low: 76° F/24° C

MIAMI

High: 88° F/31° C Low: 80° F/27° C

8‑16 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 86° F/30° C Low .................................................... 77° F/25° C Normal high ....................................... 88° F/31° C Normal low ........................................ 75° F/24° C Last year’s high ................................. 84° F/29° C Last year’s low ................................... 73° F/23° C Precipitation As of 2 p.m. yesterday ................................. 0.12” Year to date ............................................... 28.83” Normal year to date ................................... 18.09”

ELEUTHERA

NASSAU

High: 88° F/31° C Low: 77° F/25° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 87° F/31° C Low: 81° F/27° C

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KEY WEST

High: 86° F/30° C Low: 79° F/26° C

High: 86° F/30° C Low: 81° F/27° C

N

S

E

W

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S

8‑16 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

tiDes For nassau Low

Ht.(ft.)

Today

10:32 a.m.

10:55 p.m.

High

Ht.(ft.)

2.9 3.5

4:36 a.m.

4:39 p.m.

0.0 0.0

Friday

11:24 a.m.

11:44 p.m.

3.0 3.3

5:22 a.m.

5:33 p.m.

0.0 0.1

Saturday

12:18 p.m. ‑‑‑‑‑

3.1 ‑‑‑‑‑

6:10 a.m.

6:30 p.m.

0.0 0.3

Sunday

12:36 a.m.

1:16 p.m.

3.1 3.1

7:01 a.m.

7:32 p.m.

0.0 0.5

Monday

1:32 a.m.

2:17 p.m.

3.0 3.1

7:55 a.m.

8:38 p.m.

0.1 0.6

Tuesday

2:32 a.m.

3:21 p.m.

2.8 3.2

8:52 a.m.

9:46 p.m.

0.1 0.6

Wednesday 3:36 a.m.

4:24 p.m.

2.6 3.2

9:52 a.m. 0.1 10:53 p.m. 0.6

sun anD moon Sunrise Sunset

6:33 a.m.

7:59 p.m.

Moonrise Moonset

9:26 a.m.

10:36 p.m.

First

Full

Last

New

Jul. 27

Aug. 3

Aug. 11

Aug. 18

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 86° F/30° C Low: 81° F/27° C

High: 87° F/31° C Low: 81° F/27° C

N

High: 88° F/31° C Low: 82° F/28° C

E

W S

LONG ISLAND

tracking map

High: 87° F/31° C Low: 81° F/27° C

H H

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

CAT ISLAND

E

W

anti-competitive behaviour.

Slack said yesterday that Microsoft illegally bundles its Microsoft Teams messaging product, which is similar to Slack, into Office 365, its package of email and other widely used business software. Slack says Microsoft forces companies to install it and blocks its removal.

Microsoft has said its competitive advantage over Slack stems from Teams capabilities for connecting people using video. Microsoft said Wednesday that it looks forward to providing the European Commission with more information and answering its questions about the Slack complaint.

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MAYAGUANA High: 88° F/31° C Low: 82° F/28° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 86° F/30° C Low: 81° F/27° C

High: 87° F/31° C Low: 82° F/28° C

GREAT INAGUA High: 89° F/32° C Low: 82° F/28° C

N E

W

N E

W

S

S

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

Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday:

WINDS SE at 8‑16 Knots E at 7‑14 Knots SE at 8‑16 Knots E at 7‑14 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots ESE at 8‑16 Knots E at 7‑14 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 10‑20 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 10‑20 Knots E at 8‑16 Knots E at 7‑14 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots

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

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 4 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 84° F 84° F 85° F 85° F 84° F 84° F 85° F 85° F 82° F 82° F 85° F 85° F 84° F 84° F 86° F 86° F 84° F 84° F 85° F 85° F 84° F 84° F 85° F 85° F 83° F 83° F

PAGE 20, Thursday, July 23, 2020

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THE TRIBUNE

US signs contract with Pfizer for COVID-19 vaccine doses WASHINGTON Associated Press THE Trump administration will pay Pfizer nearly $2bn for a December delivery of 100 million doses of a COVID-19 vaccine the pharmaceutical company is developing, Health and Human Services Secretary Alex Azar announced yesterday.

The US could buy another 500 million doses under the agreement, Azar said.

“Now those would, of course, have to be safe and effective” and approved by the Food and Drug Administration, Azar said during an appearance on Fox News.

Pfizer Inc and BioNTech SE announced separately that the agreement is with HHS and the Defense Department for a vaccine candidate the companies are developing jointly. It is the latest in a series of similar agreements with other vaccine companies.

The agreement is part of President Donald Trump’s Operation Warp Speed vaccine programme, under which multiple COVID-19 vaccines are being developed simultaneously. The programme aims to deliver 300 million doses of a safe and effective COVID-19 vaccine by January 2021.

Under the initiative, the government will speed development and buy vaccines — before they are deemed safe and effective — so that the medication can be in hand and quickly distributed once the FDA approves or authorises its emergency use after clinical trials.

Trump, during a briefing yesterday, described the agreement as “historic”.

“We think we have a winner there. We also think we have other companies right behind that are doing very well in the vaccines, long ahead of schedule,” he told reporters.

Pfizer and BioNTech said the US will pay $1.95bn upon receipt of the first 100 million doses it produces, following FDA authorisation or approval.

Americans will receive the vaccine for free, the companies said.

Azar said the contract brings to five the number of potential coronavirus vaccines that are under development with US funding. Nearly two dozen are in various stages of human testing around the world, with several entering final test to prove if they really work.

As early as next week, a vaccine created by the National Institutes of Health and Moderna Inc. is set to begin final-stage testing in a study of 30,000 people to see if it really is safe and effective.

A few other vaccines have begun smaller late-stage studies in other countries, and in

the US a series of huge studies are planned to begin each month through fall in hopes of, eventually, having several vaccines to use.

Pfizer is finishing an earlier stage of testing to determine which of four possible candidates to try in a larger, final study.

Other countries are also scrambling to get a vaccine for COVID-19, which has killed more than 617,000 people, according to a tally kept by Johns Hopkins University.

Nearly four million Americans have been infected by the new coronavirus and at least 142,000 have died from COVID-19, the disease it causes, according to Johns Hopkins.

Britain announced on Monday it had secured access to another 90 million experimental COVID-19 vaccines made by Pfizer and others, a move some campaigners warned could worsen a global scramble by rich countries to hoard the world’s limited supply of COVID-19 vaccines.

China, where the new coronavirus originated, also has several vaccine candidates entering final testing. Trump blames Beijing for not doing a better job of containing the virus and allowing it to spread around the world. Still, he said he’d be willing to work with China if it were first to the market with a reliable vaccine.

“We’re willing to work with anybody that’s going to get us a good result,” Trump said on Tuesday. “We’re very close to the vaccine. I think we’re going to have some very good results.”

The FDA has told manufacturers it expects any vaccine to be at least 50% effective to qualify. But at a congressional hearing on Tuesday, Rep Frank Pallone, D-NJ, said he was worried Trump could push the agency into prematurely clearing a vaccine.

“My fear is that FDA will be forced by the Trump administration to approve a vaccine that lacks effectiveness,” Pallone said.

Executives from five leading vaccine companies testified that they will take no shortcuts in their testing of the shots, so that people can be confident in the results. In addition, it won’t be just the FDA rendering an opinion -- each vaccine will likely be judged nearly simultaneously by regulatory authorities in Britain and Europe.

“I don’t think any of the regulatory bodies that we have interacted with are lowering their standards,” said Menelas Pangalos, executive vice president of AstraZeneca, which is manufacturing a potential vaccine developed by Oxford University. “We would not be trying to launch a medicine that is not effective.”