PUZZLER WEDNESDAY
$5 Meals: McChicken McDouble 6pc Nuggets
HIGH 90ºF LOW 79ºF
i’m lovin’ it!
Monday,
February
CARS! CARS!
8, 2021
The Tribune Established
Being Bound To
Swear To The Dogmas
1903
Of No Master
The Tribune L A T E S T
Volume: 119 No.169, July 27, 2022
N E W S
tise Call
To Adver
-2351
601-0007 or 502
Starting at
$33.60
CLASSIFIEDS TRADER
ed
VAT includ
Established 1903
O N
T R I B U N E 2 4 2 . C O M
Biggest And Best!
THE PEOPLE’S PAPER: PRICE–$1
CHILD SHOT DEAD IN NIGHT OF MAYHEM
‘SURVIVORS WILL BE HUMANELY TREATED’
Boy victim of third shooting within six hours A CHILD was killed in a shooting incident last night – one of three incidents that claimed the life of at least one other man. Police had not released further details of the incidents last night – but officers reported that the child was shot in Fleming Street, at about 10pm. The child was taken to hospital, but police reported that he had succumbed to his injuries. No identification was
made by police, but social media users paid tribute to a boy named Kenton and posted pictures of him after the shooting. This shooting followed another double shooting in Yellow Elder Gardens, again at about 10pm. No details of injuries were available late last night. This was the third shooting within hours – after another man was shot at about 5.25pm at West and SEE PAGE TWO
By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net
ONLY two Haitian survivors from Sunday’s deadly boating tragedy had work permits to be in the country, Labour and Immigration Minister Keith Bell revealed yesterday, as he promised survivors would be treated humanely. SEE PAGE THREE
ADVISORS HIRED FOR DEBT REVIEW CONFIRMED
SWEET POTATO RECALL FOLLOWS INFESTATION By LYNAIRE MUNNINGS lmunnings@tribunemedia.net
THE Bahamas Agricultural Health and Food Safety Authority (BAHFSA) has recalled whole sweet potatoes. The recall came on behalf of the Bahamas Agricultural and Industrial Corporation (BAIC). The sweet potatoes under investigation were transported from the packing
house at North Andros to the Produce Exchange at New Providence, which is managed by BAIC. The sweet potatoes were on sale at the Produce Exchange from June 24 through July 15. In a press statement yesterday, it was revealed that 13 farms at North Andros had potentially supplied the produce exchange with the sweet potatoes; however, SEE PAGE THREE
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
POLICE investigate the shooting incident in the area of Fleming Street that led to the death of a young boy. Officers are pictured with the reported brother of the victim. Photo: Austin Fernander
THE Ministry of Finance’s financial secretary, Simon Wilson, yesterday reiterated the Government has “no plans for any restructuring” of the $11.8bn national debt as he confirmed the hiring of an advisory firm. FULL STORY - SEE BUSINESS
GT STIRRUP CAY PIERS PLAN By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
VISITORS to a cruise line’s Bahamian private island are forecast to increase by more than 427,000 per year once two piers are constructed to allow its vessels to properly dock, it has been revealed. The revised Environmental Impact Assessment for Norwegian Cruise Line’s
THE NORWEGIAN SKY (NCL) proposed harbour expansion at Great Stirrup Cay predicts the destination will receive
714,000 passengers per annum when “pre-COVID 19 sailing trends” return with that number growing by 10-15 percent annually moving forward. Explaining the rationale for the piers, the document reveals the inability for NCL’s cruise ships to dock at the Berry Islands location has forced it to transport visitors to shore using smaller ferries. FULL STORY - SEE BUSINESS
Nassau & Bahama Islands’ Leading Newspaper
ALICIA WALLACE: BLINDED TO THE REALITY MANY DON’T CARE
- SEE PAGE EIGHT
PAGE 2, Wednesday, July 27, 2022
THE TRIBUNE
Child shot dead in night of mayhem
POLICE investigate the circumstances surrounding a shooting incident in the area of Fleming Street that led to the death of a minor. from page one South Streets. He was taken to hospital by private
Photos: Austin Fernander vehicle but later died of his wounds. Police had no further details available in any of these incidents at the time
of The Tribune going to press. For the latest updates on these incidents, visit www. tribune242.com.
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 3
‘Survivors will be humanely treated’ from page one Speaking to the media, Mr Bell said it is likely those work permits will be revoked and that the holders will be repatriated as a consequence of violating the country’s immigration laws. “We are now reviewing as to what we will do in respect to that, but standard policy is that those permits will be cancelled immediately and they would face repatriation,” Mr Bell said ahead of a Cabinet meeting. “We want to be humane about what we do and how we do things given the tragedy, but at the same time, we have laws to enforce and we want to ensure that we do precisely that. “Based on the information that we have coming from the police and the investigation, it would appear that they were engaged in an illegal smuggling operation, which is an offence in The Bahamas. Therefore, you cannot be in possession of a work permit. If you commit an offence, that’s grounds to cancel that permit.” According to police, some 50 people were travelling on a 33ft twin engine vessel that was enroute to either Miami, Florida or Grand Bahama when it overturned in rough seas near Blackbeard’s Cay around 1am Sunday. The tragedy left 17 Haitians, including a young girl, dead, while several people are believed to still be missing. Twenty-five people, including two Bahamian men, have since been rescued following the accident. Those two Bahamians in addition to a third man, have been arrested. Yesterday, Mr Bell said 22 Haitian nationals are currently being housed at the Carmichael Road Detention Centre. Meanwhile, two Haitian survivors remain in hospital, a Public Hospital official confirmed to The Tribune yesterday. Mr Bell said counsellors from the local
THE CAPSIZED boat, right, and, boat underwater. Haitian community have been engaged to provide grief therapy to the survivors. Asked yesterday when the nationals are expected to be repatriated, Mr Bell said exercises will begin once investigations have been completed. However, he also explained that repatriations of the Haitians will not happen right away. “Those persons who were involved in this incident in one way or the other, we would not move to repatriate immediately because it’s an ongoing investigation,” Mr Bell said. “We will have to wait until the police finish their investigation and be satisfied that we may not necessarily need these persons as witnesses, or they very well may face other consequences.” “But as it stands now, let me say that at the detention centre, we have a total of 27 irregular migrants of Haitian descent. We have 93 Cuban nationals there now. We have a Venezuelan, two Dominicans, a Jamaican national and an Italian national there and so we are looking to ensure that we work with these countries
above, images from inside the Photos: RBDF to have their nationals repatriated as quickly as possible.” As it relates to search and recovery efforts of missing passengers, Mr Bell said officials will continue to utilise every effort to recover remains where possible. “We will be out there,” the minister said when asked when officials intend to call off the search. “I’m sure that the Minister of National Security would agree with me as long as it takes to recover the remains if there are any more at sea and once we get the experts, that is the Royal Bahamas Defence Force, who’s leading that charge, once they’re satisfied, that they are beyond recovering any bodies, etc, then they will advise the minister who will then make a decision. “ RBPF officials could not say up to press time yesterday whether any of the deceased had been identified by relatives. On Monday, National Security Minister Wayne Munroe pledged to uncover the full extent of operations behind the latest boating incident, noting the illegal activity could be a part of
larger transnational organised crime. “In my mind, something like that doesn’t just pop up and happen so we may be contending with international criminal organisations and – so
said in an interview yesterday. “Our hearts go out to the family of those victims.” He noted the importance of people making a conscious effort to make lawful decisions. “One of the things we have to be mindful of is we want to abide by the law of our land and not violate those laws. Unfortunately, some people seek to violate the law. And in doing so they endanger the lives of others. It is our hope and prayer that we would all be law-abiding citizens. That way that minimises some of these things.” Pastor Moxey stressed that the council prays that citizens will desist from criminal activity and illegal acts. The vice president highlighted how vessels used for smuggling operations are not being inspected
or going through the necessary procedures to determine if there is illegal activity. “The reality of it is, obviously there is no safety regulation checks on vehicles and vessels they use for the transshipment of people, because it’s done illegally. And in our society, you know, our planes and motor vessels that are legally registered, carrying out legitimate business, they go through very rigid processes to ensure that their vehicles and vessels are up to the best standard for the transportation of people. “Anytime there’s an illegal activity, a lot of these regulations are bypassed,” Pastor Moxey said. The history of ill-fated trips at sea by Haitian migrants who seek to have a better future away from
their country has become an unfortunate occurrence in The Bahamas. “We want to make sure that as a Christian society, we understand the plight of our brothers and sisters, particularly in the regions close to us. One of the Christian responsibilities is to be hospitable and extend love to everyone. And it is our hope as citizens that we would do that not necessarily to harbour criminality, but to show love and kindness to those around us.” According to the vice president the Bahamas Christian Council has not had any direct communication with the police at this time. However, their prayers are with the family members who lost loved ones and were affected by the ordeal.
CHRISTIAN COUNCIL: FOLLOW LAW TO PREVENT SMUGGLING TRAGEDIES By JADE RUSSELL jrussell@tribunemedia.net
BAHAMAS Christian Council vice-president Mario Moxey has urged people to follow the law to prevent tragedies like Sunday’s human smuggling incident from occurring. He said people must understand that “they cannot take the lives of others lightly”. Pastor Moxey spoke on the matter in the absence of BCC president Bishop Delton Fernander who is out of the country and described the tragedy as being heart-wrenching, especially while thinking of the victims and the families that were affected. “We’re saddened about the tragedy, which has taken place and a loss of life causes us great grief,” he
SWEET POTATO RECALL FOLLOWS INFESTATION from page one ongoing investigations with the help of BAIC, local farmers of North Andros, the Department of Agriculture and BAHFSA will determine the source of the infestation. As a result, BAHFSA warned restaurants, retailers, food service providers and consumers to not eat, sell or serve the affected potatoes supplied by the Produce Exchange on the dates mentioned as it may lead to
illness in humans who consume these potatoes. “Suppliers and distributors who offer these potatoes for sale are also asked to isolate and destroy the affected potatoes and to clean and sanitise all surface and storage areas they may have come in contact with. Where there is a potential for cross contamination or mixing with other potatoes with the affected produce, the entire batch must be discarded,” BAHFSA said yesterday.
There have been no reported illnesses so far by the Ministry of Health Surveillance Unit, however, anyone who may have eaten the affected product and shown signs of illness is asked to visit their health care providers. It is unclear whether other products may have been affected as investigation are still in the early stages. The agency said they will update the public as information becomes available.
there will be investigations to discover how this operation is put together,” he told reporters. “Is it localised? Does it involve persons in the US? Does it involve persons from Haiti? Is it a
transnational gang? And our law enforcement officials will address that as expeditiously as they can.” In 2019, 28 Haitian migrants died after their boat capsized off Abaco in February of that year.
PAGE 4, Wednesday, July 27, 2022
THE TRIBUNE
Govt in talks over monkeypox vaccine By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net HEALTH and Wellness Minister Dr Michael Darville says his ministry is in negotiations with the Pan American Health Organisation (PAHO) for the acquisition of monkeypox vaccines, which, he said, will be administered to high-risk individuals. Last week, the World Health Organisation (WHO) declared the monkeypox disease a global health emergency in response to rapidly spreading cases. More than 16,000 cases of monkeypox have been reported in more than 70 countries so far this year. Dr Darville said to date, officials have known of only one confirmed case that was in the country last month. That case was a foreign national who travelled to The Bahamas from a European country in early June. He was placed in isolation by local officials after showing symptoms associated with the disease and subsequently airlifted out
MINISTER of Health and Wellness Dr Michael Darville at the weekend. days later. While there are currently no suspected cases in The Bahamas, Dr Darville said officials believe they have the capability to monitor the virus should an outbreak occur.
“The Ministry of Health is working very closely with PAHO to devise the necessary strategy in country,” he said before going to a Cabinet meeting on Tuesday. “First of all, we have done the necessary training
Photo: Moise Amisial
at our national reference lab and so we are able to test for monkey pox in country and that is a great accomplishment. Secondly, we are in negotiations with PAHO as it relates to vaccines for monkeypox.”
“But it’s important to note that vaccine for monkeypox will not be like vaccines for COVID. It will be administered to those who are at high risk and lastly, we have been working seminars with the tourism sector at our hotels and this week, or early next week, we will be dealing with Immigration and Customs who are also at risk to be able to identify cases.” He continued: “So our strategy for monkeypox is very advanced and on its way. We believe that we have the capability to monitor this particular outbreak and in the event that, God forbid, we start to develop cases in the country, the Ministry of Health, the Department of Public Health, and PAHO is already in the advanced stages of our protocols and strategies to deal with monkeypox in country.” According to WHO data, homosexuals have been deemed high risk for contracting the disease as “the majority of reported cases of monkeypox” are currently in gay or bisexual men.
Dr Darville said while the community is known to be high risk, anyone can still contract the sickness and he urged people to be on the alert. “Well, the literature is clear, yes, the homosexual population is at high risk,” the minister said. “But with that being said, the public health issues associated with individuals who come in contact with individuals who may have been exposed or high risk, it is our responsibility to be on high alert for all cases.” Symptoms of monkeypox include skin rash, fever, headache, backache, swollen lymph nodes, chills and exhaustion and can last up to two to four weeks. Anyone with suspected symptoms of monkeypox is asked to call their health care provider or the nearest public health community clinic. Additional information can be obtained by contacting the National Disease Surveillance Unit, Monday – Friday, 9am – 5pm at 604-9090 or 604-9091; or after hours at 376-3809, or 376-3970.
More than 169,000 people in The Bahamas have been fully vaccinated against the disease since the start of the government’s vaccination programme last March. Only people age 12 and older have been eligible for doses; however, children aged 5 to 11 years will now be able to have access to COVID-19 vaccines thanks to a donation of 24,000 paediatric doses from France. The doses – which were facilitated through the COVAX facility - arrived in the country over the weekend. The government is expected to start administering the child vaccines tomorrow. “As far as administration, I think Dr Gina Archer, as well as the nurses responsible for the vaccination programme indicated that we intend, if I’m not mistaken to start vaccination as early as this week,” Dr Darville said. “We’re excited to have the vaccines in country and
once again, all vaccines are voluntary and because it’s a paediatric group. We have the paediatricians as well as our tertiary facilities involved in the administration of the vaccine. School is closed now, but a strategy is in place to be able to vaccinate our children with supervision of guardian or parent on the school campuses and so that has been processed and worked out as we speak, but, hopefully, we will start vaccinations as early as this week for those who are interested in receiving the vaccine.” Dr Darville said additional details on the vaccine rollout for children on the Family Islands will be announced at a later date. “I think by next week, we will be able to give you a schedule for what we plan to do in the Family Islands but this week, we are going to start in New Providence just to roll it out and iron out the kinks and put the schedule in place,” the health minister added.
DARVILLE CLAIMS COVID VACCINE UPTAKE IS NOW INCREASING By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net
DESPITE a noted drop in vaccination rates over the last several months, Health and Wellness Minister Dr Michael Darville said preliminary data suggests vaccine uptake is now increasing in the country. “Preliminary reports from our vaccination committees indicated that we are seeing some increased uptake,” Dr Darville said ahead of yesterday’s Cabinet meeting. “I’m pleased at what we are seeing at the Mall of Marathon. We’re putting together a new site in Grand Bahama. “The site of the final location, I think has been agreed to and very soon we will be able to start administering vaccines at that location as well. Meanwhile, at all of our polyclinics, including Grand Bahama, we are administering vaccines. We intend to do it for the paediatric vaccine as well.”
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 5
‘Polluter must pay’ says minister after fuel spill By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net ENVIRONMENT and Natural Resources Minister Vaughn Miller yesterday would not say whether negligence played a role in last week’s oil spill at Exuma. However, he warned once investigations conclude “the polluter will pay”. Officials estimate that approximately 90 to 95 percent of the diesel that spilled into waters in Exuma last week have been collected, the minister said. “As I stated, as a man of faith I am thankful and grateful to the Almighty God because where it happened, nobody want an oil spill but if you have to choose a site for it to happen, it’s an ideal site because of the cove and so it was easy to contain,” said Mr Miller. “So, it was very well contained and we were able to move aggressively and we worked continuously non-stop until we actually brought onshore and so we’re thankful and we’re grateful for that. “We’ve not completed yet, but up to this point, we’re thankful also that there wasn’t any inclement weather. So, everything co-operated and it worked well for us, so to this point, we’re pleased where it’s at. “We estimate that approximately 90 to 95 percent have been collected. Also, out of the sand on the shore, we’ve collected all of the sand and we’re, of course, processing it and
THE SCENE in Exuma in the immediate aftermath of 36,000 gallons of diesel spilling after a “breach in the hose” from a supply ship. we’ll be able to give an update or report on it once we’re ready to submit our findings.” The leakage happened early last week when a vessel contracted by Sun Oil – The Arabian — was offloading fuel to BPL at
George Town. Officials said 36,000 gallons of diesel was spilled into the island’s waters as a result of a “breach in the hose” that ran from the supply ship. During a press conference last Friday, Dr
Rhianna Neely-Murphy, director of the Department of Environmental Planning and Protection (DEPP) said the Old Navy Base cove in Exuma will remain closed until August 10 as workers clean up the remaining diesel from the area.
Yesterday, Mr Miller told reporters that depending on the progress made, officials might either open the cove as scheduled or postpone the re-opening to a later date. Asked about the environmental damage
following last week’s spill, the minister said assessments in that regard are still ongoing. “We know diesel is toxic and so that’s a concern for us, but presently it’s at minimum,” he said. “However, we’ll be sending a team of officers, probably tomorrow or Thursday and they’ll do an updated assessment and they’ll certainly update us then, but we’re waiting in terms of the animals or whatever that is on the sand to get a report on that.” “But the marine life at present, our officers who were there last week thought it was minimal, but we’re holding our breath on it and we’re hoping that once they return and do another assessment that it would remain consistent with that.” As for potential penalties for those responsible for the spill, Mr Miller replied: “Certainly, we’re operating under the guidelines and principles that the polluters pay and the polluter will pay. How much? Of course, we don’t even know that and I’m certainly not at liberty to go into that, but the polluter will pay.” When pressed if negligence has been ruled out as to what led to the incident, the minister refused to say, only telling reporters “I’m not at liberty to speak to that.” He added, “But certainly we have our views on it, but I’m not at liberty to speak to it. But again, I wish to reiterate that the polluter will pay.”
‘HAPPY AT QUICK RESPONSE - BUT MUST NOT HAPPEN AGAIN’ By LYNAIRE MUNNINGS lmunnings@tribunemedia.net
CATHERINE Booker, Exuma programme coordinator of The Bahamas National Trust, says officials are happy there was a quick response from the government regarding cleanup efforts of the diesel spill on the island last week. While Ms Booker acknowledged that the incident is unfortunate, she said the government should ensure necessary precautions are taken to avoid a repeated offence. “Well obviously it’s a terrible accident - that was something that we would always want to see avoided
and precautions taken so that it doesn’t happen,” she said. Officials have said that Exuma’s diesel recovery is “down to the last 10-15 percent.” Valiant Marine Salvage is doing all the clean-up from the shoreline. Its main salvage boat has not been deployed despite the work being “tedious and backbreaking” as well as very “labour intensive.” A team of 12 persons were working at the site near the Old Navy Base, after most of the spill was contained in the bay near the Exuma Sailing Club. The BNT representative said despite the unfortunate situation, the government
is to be commended on its quick response with clean-up efforts. Ms Booker said: “So, we are very saddened that it did happen, but we’re also encouraged that there was a quick response by government agencies to get the spill contained.” Investigations are ongoing to determine whether any fines will be levied against the parties involved in the spill, which occurred when a hose “ruptured” while transferring diesel fuel from the MT Arabian, a vessel owned by a third party and contracted by Sun Oil, to Bahamas Power & Light’s (BPL) storage tank.
PAGE 6, Wednesday, July 27, 2022
The Tribune Limited
THE TRIBUNE
PICTURE OF THE DAY
NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI “Being Bound to Swear to The Dogmas of No Master”
Publisher/Editor 1903-1914
LEON E. H. DUPUCH,
Kt., O.B.E., K.M., K.C.S.G., (Hon.) LL.D., D.Litt .
SIR ETIENNE DUPUCH,
Publisher/Editor 1919-1972 Contributing Editor 1972-1991
EILEEN DUPUCH CARRON,
C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972-
Published daily Monday to Friday
Shirley & Deveaux Streets, Nassau, Bahamas N3207 TELEPHONES News & General Information Advertising Manager Circulation Department Nassau fax Freeport, Grand Bahama Freeport fax
(242) 322-1986 (242) 502-2394 (242) 502-2386 (242) 328-2398 (242)-352-6608 (242) 352-9348
WEBSITE, TWITTER & FACEBOOK www.tribune242.com
@tribune242
tribune news network
What happens to the survivors? THE tragedy on Sunday that claimed the lives of at least 17 people when a boat capsized in rough seas near Blackbeard’s Cay is far from the end of the story. A number of people are still missing, and perhaps may never be found. But there are 25 people who were found alive, and the question arises what becomes of them. Yesterday, Labour and Immigration Minister Keith Bell said that only two of those 25 had the necessary work permits to be in The Bahamas. Those who had permits may well have been in our country for some time – but for the others, many may well have been here illegally, and some may only have arrived recently as they passed through a chain of human smugglers as they sought to reach the United States. For those that had work permits, being part of an illegal smuggling operation would be a breach of the law, and they could well see those permits revoked. But at the same time, some of them may have been travelling with those who died. They may have lost friends, they may have lost family, they may not know what has become of some of those who are still missing. Mr Bell said: “We want to be humane about what we do and how we do things given the tragedy, but at the same time, we have laws to enforce and we want to ensure that we do precisely that.” Quite what being humane looks like in this situation is hard to say. We hope it means that those who have lost people have the time to come to terms
with that loss before any further legal action. We hope that it means access to legal services for all concerned so the rules are followed properly. As Mr Bell says, though, there are indeed rules. It seems inevitable that the survivors will be returned to Haiti, with due process followed. Three people have been arrested so far, but it is unlikely an operation of this scale will have been run by just three people. This will be just part of a bigger chain. Whatever evidence the survivors can offer should prove invaluable to law enforcement. We have already seen the hazards that those being smuggled can face. Those who run these operations must be placed in no doubt that they too will face hazards – those of being arrested and put before the courts, along with every member of the operation that can be detained. These criminals are predators, and they should have no place in our society. They feed the chain of crime. They prey upon the desperate. The Bahamas has long been a hotspot for trafficking, either people reaching our shores or using us as a waypoint to go on to the US. The truth is that the biggest part of stopping that is to tackle the issues in the countries those migrants are coming from. But in the meantime, the boats keep moving – and we have to stop such exploitation as best we can. Have mercy and kindness for those who have lost people. Seek justice for those who were lost.
Social media and politics EDITOR, The Tribune. WITH the advent of social media, the public world changed. No longer did you have to wait for the local TV News - somehow instantly it was on the social thing - popped up instantly. For politicians to an extent it was great it gave them a media to get to thousands of voting age people most probably disinterested in politics, but would become curious with the social media stories. But the worst thing ever if the politician was apt to be seen in compromising situations - as simple right now being seen in close proximity to others without wearing a COVID mask
(are we really required to be wearing masks? Seems all the politicians have thrown theirs away a long time ago with whose authority now that is an interesting issue?) Arawak Cay Junkanoo an event for us locals as few visitors will attend – like the obviously set-up photos, but the real story is visitors like Junkanoo when they experience it, but is not a marketing drawing card proof of these past parades 2021-2022 no Junkanoo and all the hotels were No Room At The Inn! Junkanoo could be an attraction, but it might be too late. Atlantis marketing people got smart and hold Junkanoo parades in the marketplace and so if
there was a public facility to exhibit Junkanoo got to suggest that killed. It won’t be long Baha Mar follows. Sports and tourism marketing. Collegiate basketball as Atlantis discovered works. Baha Mar is not stupid they did the same and both see that cash roll - the team followers, College Alumni who come to play-spend and have a great time - good for them – all other sporting events, a total waste of time. Truly masked as following the Ministry of Health and Wellness Regulations - wish only Ministers would! SHIRLEY SMITH Nassau, July 26, 2022.
AN IMAGE of Fidel Castro is displayed during the 69th anniversary celebration of the Moncada Barracks assault in Cienfuegos, Cuba, yesterday. Cuba marks the anniversary of the 1953 rebel attack led by Fidel and Raul Castro on the Moncada military barracks, considered the start of Fidel Castro’s revolution that culminated with dictator Fulgencio Batista’s ouster. Photo: Ramon Espinosa/AP
CARICOM and Haiti’s gang issues EDITOR, The Tribune. FIRST off, I would like to extend condolences to the families of the Haitians who perished in the tragic incident over the past weekend. Psalm 30:5 says that weeping may endure for a night, but joy comes in the morning. At times I am left to wonder if the wealthy nations of the Western Hemisphere have conspired to see the oldest Black republic in the world fail. Prime Minister Philip Brave Davis’ announcement that CARICOM has appointed him along with Barbados Prime Minister Mia Mottley and Jamaica Prime Minister Andrew Holness to address Haiti’s gang problem gives me the impression that the troika has been sent on a fool’s errand. I am not optimistic that any dialogue with the Haitian gangs will solve an issue that has been festering since 1804. My pessimism is mainly based on Holness being a member of this CARICOM committee. How can CARICOM attempt to solve the gang problem in Haiti when it cannot solve Jamaica’s wellpublicised gang problem? In 2019, Jamaica had a total of 389 gangs, 250 of which were active. Three of the more violent gangs are the Shower
LETTERS letters@tribunemedia.net Posse, Klansman gang and the One Don gang. Approximately 250 of these gangs operate in the Kingston and St. Andrew areas -- right under the nose of the government. Jamaica’s House of Representatives is located in Kingston. Reuters reported in February that the Holness government had hauled 33 gangsters before the Supreme Court in an effort to curtail the violence. Jamaica has a controversial anti-gang legislation dubbed the Criminal Justice (Suppression of Criminal Organisations) Act, which was reviewed by a Joint Select Committee of the House of Representatives in 2021. The National Intelligence Bureau is an agency within the Jamaica Constabulary Force. A Jamaican expatriate recently told me that many retired Jamaican police officers typically seek asylum in the US for fear of retaliation from violent gang members they had encountered in the course of carrying out their duties. Jamaica recorded 1,463 homicides in 2021. In 2020, 1,323. Jamaican officials have estimated that 70
percent of the killings are gang related. There have been consistent rumours that seedy elements within the People’s National Party (PNP) and the Jamaica Labour Party (JLP) had collaborated with violent Dons within various constituencies and Parishes across Jamaica. These Dons established political garrisons which were dangerous for known political rivals to step foot on. In 1980, PNP Cabinet Minister Roy McGann was gunned down at a JLP rally in Kingston. He had made the catastrophic mistake of going into enemy territory during the election season. Eight-hundredand-forty-four murders were committed in 1980. Holness is by no means the blame for Jamaica’s gang problem and its attendant astronomical high murder rates. He has in the past called for the end of political garrisons. However, until Holness and the Jamaican authorities address the gang crisis in Jamaica, I don’t see what meaningful contribution he can offer to the Haitian people and their own gang crisis. KEVIN EVANS Freeport, Grand Bahama July 26, 2022.
Tender on carbon trade EDITOR, The Tribune.
CURIOUS: Is the required RFP-Tender process being followed and carried out by government according to rules on contracts over $50,000.00? Clearly, no, when it came to the recent tabled matters on Carbon Trading – surely the fee for selling the carbon will exceed $50,000.00?
Now your Neil Hartnell headlines the debt management contract, could be totally a leaked issue to send people going the wrong way or could be accurate who knows, but again surely their fees will be more than $50,000.00? We have to ask why no open RFT-Tender? This is disturbing occurring virtually within 10 days of each other.
Thought all tenders were requested online - what’s the difference between procuring materials and services? - after opening date all proposed details, costs, etc, itemised and shown - 1000% transparent. Oh, well - leopards don’t change spots! DK HUTCHINS Nassau, July 26, 2022.
THE TRIBUNE
WOMAN USED CUTLASS AND CAR IN ATTACK By PAVEL BAILEY Tribune Court Reporter pbailey@tribunemedia.net
A WOMAN was ordered to attend anger management classes yesterday after admitting to assaulting a man with a cutlass and a car. Alia Pitt, 22, represented by Troy Kellman, appeared before Magistrate Algernon Allen Jr on charges of assault with a deadly instrument and assault with a deadly weapon. On July 6 in New Providence, Ms Pitt is accused of assaulting Oniel Moxey with a cutlass and a white
Toyota vehicle. Pitt pleaded guilty. The magistrate summarily ordered her to attend six months of anger management classes for the first count against her. Should Pitt fail to attend classes or receive an unsatisfactory report, she would face six months in custody. Pitt would further face an additional three months in custody to be served concurrently for the second count against her. The defendant is expected to return to court for mention on March 7, 2023 after she has completed her course.
MAN ‘STOLE CAR AND SHOTGUN’ By PAVEL BAILEY Tribune Court Reporter pbailey@tribunemedia.net
A MAN was sent to prison from the Magistrate’s Court yesterday accused of stealing a woman’s car and shotgun at gunpoint. Dimmon Hall, 24, represented by attorney David Cash, faced Assistant Chief Magistrate Subusola Swain on a charge of armed robbery. On July 17 in New Providence, Hall, reportedly armed with a black handgun, robbed Pamela Heastie of her $15,000 red
2013 Ford Escape. The accused is also alleged to have stolen her $2,000 black Mossberg shotgun. Hall was not required to enter a plea and was instead informed that his case would proceed by way of a Voluntary Bill of Indictment. The magistrate further told the accused that he could apply for bail through the Supreme Court, where his case will be heard. Hall will be remanded to the Bahamas Department of Correctional Services. Hall will be served his VBI on October 27.
WOMAN DENIES HARBOURING
By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net
A WOMAN resident of Grand Bahama was charged in a Freeport Magistrate’s Court on Monday with harbouring a criminal. Lynette Pinder, 36, of Yorkshire Drive, South Bahamia, appeared before Magistrate Charlton Smith in Court Two. She was not represented by counsel and pleaded not guilty. Pinder was granted $4,000 bail with one surety. The case was adjourned to September 9.
Meanwhile, a 31-yearold Freeport man was charged with possession of an unlicenced firearm and ammunition. Antonio Johnson, of Beaconsfield, Freeport, appeared before Magistrate Simone Brown in Court Four (Eight Mile Rock) charged with one count of possession of an unlicenced firearm and one count of possession of ammunition. Johnson pleaded not guilty. Magistrate Brown granted the accused $8,000 bail. The case was adjourned to October 5.
Wednesday, July 27, 2022, PAGE 7
Man admits guilt in drugs case By PAVEL BAILEY Tribune Court Reporter pbailey@tribunemedia.net TWO men were charged in a Magistrate’s Court yesterday after police allegedly found $7,800 worth of drugs under their kitchen sink. Fabian Docree, 36, and Richard Dicks, 34, both represented by Attorney Ian Cargill, stood before Magistrate Samuel McKinney on a charge of possession of dangerous drugs with intent to supply. A third suspect, Alvin Cavalier, 28, did not appear in court and is still at large. Docree also faced separate charges of attempted murder and
possession of a firearm with intent to endanger life. At around 11am on July 20, police, acting on a search warrant, entered the defendants’ residence at #17B Clifton Street off Mt Royal Avenue for suspected drugs and firearms. Once inside K-9 units pointed out the location of suspected drugs under the defendants’ kitchen sink. There, authorities uncovered a white and blue Sports Centre bag, which contained five black plastic wraps, three clear plastic wraps and one clear plastic container all holding a substance later positively identified as Indian hemp. Altogether, the drugs seized at the
property had a collective weight of 7.8lbs and an estimated street value of $7,800. In a police interview, both accused denied any knowledge of the drugs. It was also indicated by prosecutor Inspector Timothy Bain that Docree also had no prior charges before the court. However, Docree, pleaded guilty while his co-accused, Dicks, pleaded not guilty. Magistrate McKinney accepted Docree’s guilty plea and ruled that he be fined $8,000. Failure to pay this fine would result in one year in prison. The charges against Dicks were withdrawn and he was discharged.
READY, STEADY, COOK
PARTICIPANTS in an Iron Chef cookoff contest in the Elizabeth constituency on Saturday, attended by local MP JoBeth Coleby-Davis. Cash prizes of up to $500 were available for the winners, along with internships at local restaurants. Photos: Moise Amisial
PAGE 8, Wednesday, July 27, 2022
THE TRIBUNE
Blinded to the reality that these are people too for whom many just don’t care ON Sunday morning, a twin engine vessel with at least 40 passengers capsized near Blackbeard’s Cay. Twenty-five people were rescued and 17 bodies were recovered. Two Bahamian men survived and are in police custody along with a third Bahamian man who was arrested on Monday. Minister of National Security Wayne Munroe said the two Bahamian men, if found to be the captains of the vessel, “would be charged with the appropriate human smuggling offences” and authorities would “consider” a homicide charge. Haitian lives were lost. There is certainly a human smuggling ring, and it is not new. Haitian lives were lost. They spent thousands of dollars to go somewhere else in the middle of the night. We have not spent enough time counting the cost. Not the money, but the lives. Not just the cost of this incident, but the crisis. It is not new. Haitian lives were lost. Lives of value, mourned by loved ones in other places who were probably hoping, just this once, that irregular transit at an odd hour would lead to something better. But Haitian lives were lost.
PECULIAR CIRCUMSTANCES?
At a press conference after the tragedy the Prime Minister said: “The world is suggesting that we should absorb all of those who leave Haiti... They
By Alicia Wallace
wanted me to sign onto an irregular migration declaration but we have our own peculiar circumstances.” He added that we have limited resources, and if we open our borders to assist people, the Bahamian people have to pay the bill. At the Summit of the Americas IX, focus was on five areas — health, climate change, clean energy digital transformation and democratic governance. The Los Angeles Declaration on Migration and Protection was a side agreement negotiated by the Biden Administration and agreed by 20 other countries including Barbados, Belize, Guyana, Haiti, and Jamaica — not The Bahamas. Signatories committed to engage financial institutions to provide financial support for “countries hosting migrant populations and facing other migration challenges”, improve regional cooperation, strengthen temporary labour pathways, improve access to public services, and expand access to regular pathways including family reunification. It is not clear how our circumstances prevented the Prime Minister from signing this agreement.
CONDITION IS NOT CHARACTER
The response from the government on the tragedy has, thus far, been predictable. Unfortunately, in the worst possible way, the response of the Bahamian public has been what we have come to expect from one another. Some people have been empathetic, recognising the loss of life as a tragedy. As is often the case, the loudest voices are from the most hateful among us. On a popular morning talk show on Monday morning, someone sent a vile text message, promoting a very specific form of violence against Haitian people and, in particular, the people who survived the tragic incident. The host wondered aloud if the person who sent the message would like to see the same kind of public violence inflicted upon Bahamians who travelled to other countries and overstayed with the intent to live in them. I wonder if they want to inflict violence upon the survivors as punishment for coming here, for trying to leave, or for surviving. The answers to these questions, of course, matter very little. What we know is we are
SURVIVORS on top of the capsized boat on Sunday. Photo: RBDF surrounded by angry, hateful people who do not even have the ability to control their own speech, but want to control the lives of other people who they deem, in comparison with themselves, to be subhuman. This does not bode well for any us, Haitian, Bahamian, or any other nationality. That Haitian people are people should not be a debate. That Haitian people have human rights should not be new information and should not need to be explained. Bahamians have, for so long, seen and treated Haitian people as disposable and replaceable that many now believe this and allow it to dictate their behaviour. Being from another country does not make any person better or worse than an other. Conditions are different, yes, but conditions do not define character. Conditions in a country can limit people’s opportunities. Conditions can be and can create barriers and challenges. Because of this, people try to change their conditions. We all do it. We clean our homes, we tidy our desks, we dispose of garbage, we charge our battery-powered devices, we keep up with the maintenance of vehicles. We complain about potholes and malfunctioning traffic lights in the attempt to get them fixed. We take second and third jobs and start side hustles. Some of us donate to organizations focused on specific causes. We send our children to school. We hang photos of our smiling family members. We understand conditions matter, that conditions can change and that we have the power to change our conditions. I know someone who lives in her mother’s house in order to provide care, and when conditions change, she will move to a house she prefers. I know someone who moved to Canada because he went to university there and feels free to be fully himself away from here. I know someone who went to university for several years to get the qualifications necessary for her dream job, and now works in another field because what she is passionate about does not pay as well as the work she is doing right now, and she needs that money to pay off debt. We make moves, we shift, and we do what we need to do to improve our conditions and improve our lives. Governments know this. Political parties know this. They use our conditions and our dreams of better conditions in their public campaigns and backroom deals to get votes, and we see the effects of conditional relationships and bargaining when they appoint their people to various positions. Everyone wants better conditions, and many are ready to make a deal.
WHO GETS TO BE HUMAN?
Humanity is not dependent on nationality, race, class, gender, or any other identity marker. We are all people. Human beings. We all have human rights, whether or not we are able to access them. Human rights are inherent. They are not earned. We all have dreams and desires. We all want to change our circumstances when we are uncomfortable and when we are suffering. When we are struggling, we seek a better way of life. We cannot be expected to just accept anything, whether or not we are seen as “deserving”. We, in The Bahamas, are plagued by a blatant and intentional disregard for human rights. Far too many people among us think they can pick and choose the people who are and are not deserving of the right to “life, liberty, and security of person” as set out in Article 3 of the Universal Declaration of Human Rights. They want to get away with torture, cruelty, and degrading treatment inflicted upon people they consider less than themselves. Haitians are not the only people whose humanity is stripped away from them by hateful, violent people. Who else is denied their human rights? Women are regularly denied bodily autonomy. We live in a country where marital rape is still not criminalised, and no draft amendment bill has been shared with the public to date. Children are frequently mistreated and rarely taught about their human rights or the Convention on the Rights of a Child. Instead, they are preyed upon, scolded for asking questions and expressing themselves, and beaten for making mistakes. LGBTQI+ people are resented for even suggesting that human rights are not accessible and, in many cases, intentionally denied. People with low incomes are blamed for their circumstances and told they should work harder or save more money if they want to be able to live. Informal workers are underpaid and their work is undervalued. People who do unpaid domestic and care work in their own homes are not seen as skilled, and their work is not recognized as work, nor is it, in most cases, shared by others in the household. One thing affects another that affects another that affects another.
“FIGURE IT OUT FOR YOURSELF,” THEY SAY
There is a commitment to neo-liberalism, insisting that everyone is responsible for improving
their own conditions. The pull-yourself-up-by-yourbootstraps approach has never worked because you cannot get water from a rock. We are not solely responsible for our current conditions, and many of us cannot change them on our own. These conditions have been created, in large part, by systems and by people in positions of power. The Transatlantic Slave Trade ended, but its effects are still with us, including antiblackness and the wealth gap. Colonialism never really went away. Racism continues, as does colourism and a hatred for people from other, very specific, countries that we ought not continue to call “xenophobia”. There is a clear distinction between people we call “expats” and people we call “migrants”. Even with a scarcity mentality, people are satisfied to see white people move here, get high positions and high salaries, free housing and spots at the expensive international schools for their children, and angered by the black migrants from our own region who often take on jobs everyone says Bahamians do not want or do not do well, receive low wages, and send their children to public schools where many of those children have the nerve to excel. Why might that be? Bahamians often go abroad, overstay and find work. Some seek asylum. It seems we have tired of the brain drain conversation, and it is now a given that most young people, when they go to university, will not return for more than a short visit during the Christmas holidays. We have, somehow, accepted that this place is not good enough for the brilliant young people we work so hard to educate. In fact, many people raise their children with the intention of sending them somewhere else to live and work. How many parents send their children off and tell their friends, “Chall, I tell him don’t come back”? Our children deserve it all. The world, really. That’s why we send them off to school. Hopefully, if they have any sense, they’ll stay there. Meanwhile, let’s stay here and guard the land. We don’t want to till the soil or cut the grass or climb the coconut trees, but this land is our land. Someone else can do that work. Someone not from here. Someone who’ll take less money than the big company down the road. We could always find someone to do the work we don’t want to do.
WHY DIDN’T HE SHOW UP TODAY?
That’s their business if they want to live in a house with another family, and send their money back to Haiti. You saw him the other day, at the money transfer place? He was probably sending money to his wife. What happened? He didn’t show up today? Well, where he gone? You heard about the boat? You think he was on that? You mean to tell me, all that time I thought he was sending money back to Haiti, someone was sending him money? Yes, to go. To get out of here. To be with his family, somewhere else. All that money? Yes, all that money. I know, it’s such a surprise. Who would have thought that he would come here, and then, like you, decide it wasn’t good enough for his children? Who would have thought that someone else, from a place like that, would also want the best for their own?
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 9
NEW LUNAR ROVER IN THE WORKS AS TECHTALK VOLKSWAGEN NASA MOON MISSION ADVANCES STARTS US ELECTRIC By MICHELLE CHAPMAN AP Business Writer
A NEW lunar rover is under development by Lockheed Martin and Goodyear as NASA gears up for a return to the moon. Unlike the rover first used during the Apollo 15 mission in 1971, built to last only a few days and for short trips, the new lunar vehicle is being built for extended use. And this time, it’s not just for NASA. “We’re developing this new generation of lunar mobility vehicle to be available to NASA and for commercial companies and even other space agencies to support science and human exploration,” said Kirk Shireman, vice president of Lunar Exploration at Lockheed Martin. “This approach exemplifies NASA’s desire for industry to take the lead with commercial efforts that enable the agency to be one of many customers.” Neil Armstrong became the first person to step onto the moon’s surface on this day in 1969 as part of the Apollo 11 mission. Goodyear, which was
FROM 1971: A rover, looking north, on the west edge of Mount Hadley on the moon. Goodyear is teaming with Lockheed Martin on the development of a vehicle planned for use on the moon, providing airless tires for the project. This isn’t Goodyear’s first venture into space, as it supplied essential products for NASA’s Apollo programme, including the Apollo 11 mission. (AP Photo, File)
also involved in NASA’s Apollo missions, will employ the airless tire technology it uses here for autonomous shuttles and other passenger vehicles. Lockheed Martin, based in Fort Worth, Texas, has worked with NASA
for more than 50 years, including NASA’s Orion exploration-class spaceship for Artemis and numerous Mars planetary spacecraft. The lunar vehicles will need to withstand extreme conditions on the moon’s surface, where
temperatures drop to -250 degrees Fahrenheit (-156.67 degrees Celsius) at night and rise to over 250 degrees Fahrenheit (121.11 degrees Celsius) during the day. Aside from Goodyear, based in Akron, Ohio, and
Lockheed Martin, MDA of Canada will provide its commercial robotic arm technology for the vehicles. The companies anticipate having their first vehicle on the moon’s surface at the same time as NASA’s mission, planned for 2025.
BAIDU UNVEILS LATEST AUTONOMOUS ELECTRIC VEHICLE: APOLLO RT6
By ZEN SOO Associated Press
HONG KONG (AP) — Baidu, a Chinese search engine and artificial intelligence firm, unveiled its latest electric autonomous driving vehicle last week. The Apollo RT6 will be soon be part of Baidu’s robotaxi fleet, as China pushes forward with its autonomous driving ambitions. It is a fully electric vehicle with a steering wheel that can be removed or installed when required, and will cost 250,000 yuan ($37,000) per unit. “This massive cost reduction will enable us to deploy tens of thousands of autonomous vehicles across China,” Robin Li, co-founder and CEO of Baidu, said at the firm’s Baidu World conference Thursday. “We are moving towards a future where taking a robotaxi will be half the cost of taking a taxi today.” Baidu already runs Apollo Go, an autonomous ride-hailing service using self-driving robotaxis with safety staff seated in the driver or passenger seat. It has launched Apollo Go in big cities like Beijing, Shanghai, Shenzhen and Guangzhou, although the service is limited to specific areas. The RT6 also attained the industry’s Level 4 out of five possible levels of technology. That means its systems can operate without a driver but must be pre-loaded with a detailed map, thus limiting the areas where the vehicles can operate. Lower levels of technology range from cruise control, a feature that has been available for decades, up to Level 3, which allows handsfree highway driving. Self-driving robot carts already are widely used in factories, warehouses and other tightly controlled settings.
VEHICLE ASSEMBLY IN TENNESSEE
CHATTANOOGA, Tenn. (AP) — Volkswagen began production of its first electric vehicle assembled in the United States at a Tennessee plant Tuesday. In a news release, the German automaker said it plans to ramp up production in Chattanooga of the ID.4 electric compact SUV to 7,000 cars per month in the fourth quarter of this year, with a goal of increasing that rate next year. The kickoff comes after Volkswagen announced an $800 million investment in the company’s manufacturing of electric vehicles in North America at the Chattanooga plant in 2019, including facilities for vehicle and battery pack assembly. The company says it is hiring more than 1,000 production team workers there through the end of the year. Volkswagen Chattanooga currently employs more than 4,000 people. The start of production comes as America’s automakers take aim with electric vehicles at the largest segment of the U.S. market: modestsized SUVs, representing about 20% of new-vehicle sales. Volkswagen says the ID.4 is its most popular electric vehicle, with more than 190,000 delivered to customers around the world since last year. The company says customers can expect ID.4s to be delivered as early as October.
CHINA ADDS SCIENCE LABORATORY TO ITS ORBITING SPACE STATION
XU BAOQIANG, general manager of Baidu Autonomous Driving Vehicle department, briefs members of the media on the Apollo RT6, a fully electric vehicle with an “optional” steering wheel that can be removed or installed when required, last week in Beijing. (AP Photo/Ng Han Guan)
The Apollo RT6 was designed specifically with autonomous driving in mind, compared to previous generations where the technology was retrofitted on conventional vehicles, the company said. The steering wheel-free design allows more space for the
installation of extra seating or other additions, even a gaming console or vending machine. Baidu is best known for its search engine and online advertising services, but in recent years has invested heavily in autonomous driving and artificial intelligence
technology, including automated personal assistants and AI chips. China aspires to lead autonomous driving technology globally but lags the U.S. in introducing such services. Alphabet’s Waymo began offering driverless taxi services in Phoenix, Arizona in 2020.
BEIJING (AP) — China added a laboratory to its permanent orbiting space station Monday as it moves toward completing the structure in coming months. The Wentian laboratory was launched from the Wenchang space base on the tropical island province of Hainan on Sunday with a large crowd of amateur photographers and space enthusiasts watching. After 13 hours of flight, it successfully docked with the Tianhe living area of the Tiangong space station at 3:13 a.m. Monday (1913 GMT), according to the China Manned Space Agency. Photos distributed by Xinhua News Agency later showed the three astronauts inside the expanded space station. The 23-tonne Wentian laboratory is designed for science and biology experiments and is heavier than any other single-module spacecraft currently in space, according to the state-owned Global Times. Three astronauts who started their six-month mission aboard the space station last month oversaw the Wentian’s arrival and docking. A second laboratory segment, the Mengtian, is due to be launched in October and will complete the space station.
PAGE 10, Wednesday, July 27, 2022
THE TRIBUNE
AN AIR tanker flies past flames while battling the Oak Fire in Mariposa County, California, on Sunday. Wildfires, floods and soaring temperatures have made climate change real to many Americans. Yet a sizeable number continue to dismiss the scientific consensus that human activity is to blame. That’s in part because of a decades-long campaign by fossil fuel companies to muddy the facts and promote fringe explanations. Photo: Noah Berger/AP
Counting the real cost of climate disinformation By DAVID KLEPPER Associated Press
IN 1998, as nations around the world agreed to cut carbon emissions through the Kyoto Protocol, America’s fossil fuel companies plotted their response, including an aggressive strategy to inject doubt into the public debate. “Victory,” according to the American Petroleum Institute’s memo, “will be achieved when average citizens ‘understand’ (recognise) uncertainties in climate science... Unless ‘climate change’ becomes a non-issue... there may be no moment when we can declare victory.” The memo, later leaked to The New York Times that year, went on to outline how fossil fuel companies could manipulate journalists and the broader public by muddying the evidence, by playing up “both sides” of the debate and by portraying those seeking to reduce emissions as “out of touch with reality”. Nearly 25 years later, the reality of a changing climate is now clear to most Americans, as heatwaves and wildfires, rising sea levels and extreme storms become more common. Last week, President Joe Biden announced moves
intended to expand offshore wind, though he stopped short of declaring a national climate emergency. A Supreme Court ruling last month limited the federal government’s ability to regulate carbon emissions from power plants, meaning it will be up to a divided Congress to pass any meaningful limits on emissions. Even as surveys show the public generally has become more concerned about climate change, a sizeable number of Americans have become even more distrustful of the scientific consensus. “The tragedy of this is that all over social media, you can see tens of millions of Americans who think scientists are lying, even about things that have been proven for decades,” said Naomi Oreskes, a historian of science at Harvard University who has written about the history of climate change disinformation. “They’ve been persuaded by decades of disinformation. The denial is really, really deep.” And persistent. Just last month, even with record heat in London, raging wildfires in Alaska and historic flooding in Australia, the Science and Environmental Policy Project, a pro-fossil fuel thank tank, said all the
scientists had it wrong. “There is no climate crisis,” the group wrote in its newsletter. Years before COVID-19 set off a wave of misinformation, or former President Donald Trump’s lies about the 2020 election helped spur an insurrection at the US Capitol, fossil fuel companies spent big in an effort to undermine support for emissions reductions. Now, even as those same companies promote investments in renewable energy, the legacy of all that climate disinformation remains. It’s also contributed to a broader skepticism of scientists, scientific institutions and the media that report on them, a distrust reflected by doubts about vaccines or pandemic-era public health measures like masks and quarantines. “It was the opening of a Pandora’s Box of disinformation that has proven hard to control,” said Dave Anderson of the Energy and Policy Institute, an organization that has criticized oil and coal companies for withholding what they knew about the risks of climate change. Starting in the 1980s and 1990s, as public awareness of climate change grew, fossil fuel companies poured millions of dollars into public relations
campaigns denouncing the accumulating evidence supporting the idea of climate change. They funded supposedly independent think tanks that cherrypicked the science and promoted fringe views designed to make it look like there were two legitimate sides to the dispute. Since then, the approach has softened as the impact of climate change has become more apparent. Now, fossil fuel companies are more likely to play up their supposedly pro-environmental record, touting renewables like solar and wind or initiatives designed to improve energy efficiency or offset carbon emissions. Aggressive approaches to address climate change are now dismissed not on scientific grounds but on economic ones. Fossil fuel companies talk about lost jobs or higher energy prices — without mentioning the cost of doing nothing, said Ben Franta, an attorney, author and Stanford University researcher who tracks fossil fuel disinformation. “We are living within an extended multi-decade campaign executed by the fossil fuel industry,” Franta said. “The debate (over climate change) was manufactured by the fossil fuel
industry in the 1990s, and we are living with that history right now.” The impact of that history is reflected in public opinion surveys that show a growing gap between Republicans and other Americans when it comes to views on climate change. While the percentage of overall Americans who say they’re concerned about climate change has risen, Republicans are increasingly skeptical. Last year, Gallup found that 32% of self-identified Republicans said they accepted the scientific consensus that pollution from humans is driving climate change, down from 52% in 2003. By comparison, the percentage of self-identified Democrats that say they accept that human activities are leading to climate change increased from 68 to 88 over the same time period. Fossil fuel companies deny any intent to mislead the American public and point to investments in renewable energy as evidence that they take climate change seriously. ExxonMobil CEO Darren Woods told members of Congress last fall that his company “has long acknowledged the reality and risks of climate change, and it has devoted significant resources to
addressing those risks.” ExxonMobil’s public claims about climate change, he said, “are and have always been truthful, fact-based ... and consistent” with mainstream science. Asked about its role in spreading climate misinformation, a spokesman for the Southern Company pointed to recent expansions in renewable energy and initiatives meant to offset carbon emissions. The American Petroleum Institute did not respond to messages seeking comment for this story. The trade group was behind the 1998 “victory memo” that laid out the industry’s strategy to respond to concerns about climate change. That memo is one of several documents cited by climate activists and some Democratic lawmakers who say they could be used to hold them legally responsible for misleading ratepayers, investors or the general public. “It’s time for these companies to answer for the harm they have caused,” said Rep Ro Khanna, D-California. Republicans, however, have said Democrats want to focus on climate misinformation to distract from failed environmental policies that are driving up gas and energy costs.
NORTH-WEST US SET FOR HOTTEST DAY IN LONG HEAT WAVE PORTLAND, Oregon Associated Press
TEMPERATURES were predicted to soar to 100 degrees in Portland, Oregon yesterday, which was expected to be the hottest day of a heat spell that meteorologists believe will be unusually long for the Pacific Northwest region, which rarely sees such scorching weather. Oregon Gov Kate Brown declared a state of emergency across much of the state, warning the extreme temperatures may cause utility outages and transportation disruptions. “With many parts of Oregon facing a high heat wave, it is critical that every level of government has the resources they need to help keep Oregonians safe and healthy,” Brown said in a statement. As the north-western US
heated up, the hot spell on the East Coast appeared to have broken, with few areas east of the Mississippi River under heat advisories yesterday. Philadelphia hit 99 degrees on Sunday before factoring in humidity. Newark, New Jersey, had its fifth consecutive day of 100 degrees or higher, the longest such streak since records began in 1931. Boston also hit 100 degrees, surpassing the previous daily record high of 98 degrees set in 1933. On Tuesday, highs were forecasted for the mid-80s in Philadelphia, New York and Boston. Residents and officials in the North-west have been trying to adjust to the likely reality of longer, hotter heat waves following last summer’s deadly “heat dome” weather phenomenon that prompted
record temperatures and deaths. In response, Oregon passed a law requiring all new housing built after April 2024 to have air conditioning installed in at least one room. The law already prohibits landlords in most cases from restricting tenants from installing cooling devices in their rental units. About 800 people died in Oregon, Washington and British Columbia during the 2021 heat wave in late June and early July. The temperature at the time soared to 116 degrees F in Portland and smashed heat records in cities and towns across the region. Many of those who died were elderly and lived alone. While temperatures this week are not expected to get that high, the anticipated number of consecutive hot days has
raised concerns among officials. The National Weather Service in Portland issued an extreme heat warning for large swaths of Oregon and Washington state out of concern that nighttime temperatures won’t help residents to sufficiently cool off. “The main reason for that warning is because of those low temperatures only getting into the 65 to 70 degree range, and the fact that this is such a long duration event,” said Colby Neuman, a meteorologist at the National Weather Service in Portland. The forecasted lows “are only happening for one or two hours, right around sunrise. And that’s it,” said Neuman. “There isn’t a lot of time for households and apartments to cool off.” Portland seems to be on track to “either tying or
exceeding” previous heat wave duration records, Neuman said. The record stands at six consecutive days of 95 degrees or higher, which has only been reached twice before. Portland officials have opened cooling centers in public buildings and installing misting stations in parks. Trimet, which operates public transportation in the Portland metropolitan area, will allow passengers who cannot afford fares to ride for free when heading to cooling centers. Garbage trucks may start their rounds as early as 4am this week to allow drivers to work in the early morning, reducing exposure to heat and health risks. Many libraries are extending their hours, staying open until 8pm to allow people more time to cool off. Multnomah County, which includes Portland,
plans to open four overnight emergency cooling shelters starting Tuesday so so people who can’t get cool on their own can spend the night. Officials hope the outreach efforts will help people facing the greatest heat risks — including older people, those living alone, people with disabilities, members of low-income households without air conditioning and people without housing. Jenny Carver, Multnomah County’s Emergency Manager for the Department of County Human Services, said her work has focused on “ensuring that these sites are as low-barrier as we can make them.” “We ask folks to just give a name and we don’t check any identification,” said Carver. “We make as many resources available as we can.”
SPORTS PAGE 12
WEDNESDAY, JULY 27, 2022
Bahamas nets 3-0 win over Bermuda By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net
M
ake it their second straight spectacular showing for the Bahamas women’s national tennis team at the prestigious Billie Jean King Cup at the Centro Nacional de Tenis Parque del Este in the Dominican Republic. The team, playing as the top seeds in the Americas Zone III, pulled off an impressive 3-0 win over Bermuda yesterday to remain undefeated in their first two games in pool A. They will close out round robin play today against the Dominican Republic, who is expected to provide the stiffest challenge for the team in their group. Just like she did on Monday in the Bahamas’ 3-0 sweep over El Salvador, number two seeded player Elana Mackey was the first out of the gate and she pulled off an identical 6-1, 6-1 decision over AsiaLeigh Hollis. “I thought I played pretty well today (Tuesday). I was able to experiment with some shots that I didn’t feel comfortable with trying yesterday (Monday) in today’s match,” Mackey said. “The girl I played had a really good baseline game so I had to come in to the net and finish off the points quickly.” Compared to Monday’s opener, the Mars Hill University cross country and tennis star said she was pleased with how she executed yesterday because she was “very comfortable and the energy was better.” Sydney Clarke, the top seeded player on the team, followed with a 6-0, 6-2 win over Shelby Madeiros. “My performance today was great. I was in my element and hardly made much errors. I didn’t give my opponent any free points,” Clarke said. “Even when I zoned out for a bit, I was able to quickly regroup and get back in control of the match. Clarke, however, noted that her performance yesterday was much better than her opener. “I was
WINNING WAYS - Shown, from left to right, are player/captain Simone Pratt, Sydney Clarke, Sierra Rodgers and Elana Mackey after Team Bahamas’ 3-0 win over Bermuda yesterday at the Centro Nacional de Tenis Parque del Este on day two of the prestigious Billie Jean King Cup Americas Group II in the Dominican Republic.
more locked in,” said Clarke, who attends the University of Alabama at Birmingham. “My opponent today was a weaker player which made me raise my focus rather than play down to their level.” Both Mackey and Clarke, winning their matches yesterday in just 52 minutes, have only given up two games in their two
matches played so far. If that wasn’t enough, Clarke came back and teamed up with player/captain Simone Pratt from Grand Bahama for a 6-0, 6-1 decision over the Bermuda’s duo of Durham and Jackson in 43 minutes. As she prepares for today’s match against the Dominican Republic, Clarke said she’s “looking forward to raising my focus
and radiating lots of energy on court. Whether I’m winning or losing my goal is to have the same fight and belief from start to finish.” Against the Dominican Republic, the 19-year-old Mackey agreed that Team Bahamas will have to step up their game a lot more. “They are a very good team,” Mackey reflected. “I’m hoping to see Team Bahamas in the playoffs
and being very competitive with the rest of the teams.” Also playing on the team but yet to see any action on the court is Sierra Rodgers, the youngest member at age 16. The Bahamas Lawn Tennis Association congratulated the team that is being sponsored in the Dominican Republic by Fidelity Bank and Trust Bahamas Limited.
Armando, Page 15
NFL TEAMS OPEN CAMP WITH BIGGEST QUESTION STILL NOT ANSWERED By ROB MAADDI AP Pro Football Writer TRAINING camps opened across the NFL and the biggest offseason question remains unanswered. The Cleveland Browns still don’t know how many games they’ll be without Deshaun Watson, who is still waiting for retired judge Sue L Robinson to issue a ruling following his disciplinary hearing that concluded nearly four weeks ago. The league and the NFL Players’ Association requested a decision by the start of training camp, according to a person familiar with the process who spoke to The Associated Press on condition of anonymity because the discussions are private. Robinson, who was jointly appointed by the league and the union, had no obligation to meet that deadline. Representatives are hopeful a decision comes this week. Watson was accused of sexual misconduct by 24 women and has settled 20 of the civil lawsuits. Two separate Texas grand juries declined to indict Watson on criminal complaints stemming from the allegations. The Browns, along with 27 other teams, welcomed their veterans yesterday as each of the 32 teams have now kicked off camp. Watson reported to his first camp with Cleveland last week along with veteran backup Jacoby Brissett, the team’s presumed starter if there is a suspension. The Browns also signed Josh Rosen last week as more quarterback insurance. Watson should be on the field for the team’s first fullsquad practice today. There was an amusing moment on Monday when the threetime Pro Bowl quarterback was seen walking in full uniform across the street in front of the Browns’ training facility to take part in a photo shoot. - Other top questions around the NFL that still need to be addressed in training camp:
SEE PAGE 13
MARLINS PUSH UNDEFEATED RECORD TO 2-0 IN NEW PROVIDENCE SOFTBALL ASSOCIATION WHILE the Mystic Marlins stayed undefeated, the C&S Hitmen rebounded to get their first victory as the New Providence Softball Association action continued on Saturday night in the Bankers Field at the Baillou Hills Sporting Complex. The Marlins pushed their men’s divisional undefeated record to 2-0 as they handed the Atlantis Titans their first loss in a 12-1 rout. The Hitmen pulled even at 1-1 with a 10-1 blowout over the Mighty Mitts. In two ladies’ games played on Friday, the Sunshine Auto Wildcats also remained perfect at 3-0 with an 11-6 decision over the Lady Truckers. Meanwhile, the University of the Bahamas Mingoes held off the RAB Operators 10-8. In two games played on Thursday, the Wildcats clobbered the Mingoes 15-3 in the ladies’ opener.
THE C&S Hitmen rebounded to get their first victory as the New Providence Softball Association action continued on Saturday night in the Bankers Field at the Baillou Hills Sporting Complex.
And the Titans knocked off the Renegades 7-2 in the men’s feature contest the same day. * Here’s a summary of the games played: Hitmen 12, Titans 1 Martin Burrows Jr picked up the win over Angelo Dillet on the mound in Saturday night’s feature contest. Richard Bain went 1-for-2 with four runs batted in. He also had a three-run homer in the second and added an RBI sacrifice fly. Mystic Marlins 10, Mighty Mitts 1 Deon Whyte tossed a two-hitter for the win in Saturday’s opener over Norman Bastian. Stephen Russell had a perfect 3-for-3 night with three RBI and three runs scored and Angelo Watson also went 3-for-3 with two runs scored.
SEE PAGE 16
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 13
NFL
FROM PAGE 12
TODD Isaacs Jr and the New Jersey Jackals also hope to reverse their fortunes in the East Divison of the Frontier League. Photo: New Jersey Jackals Twitter/@JackalsBaseball
ANFERNEE Seymour and his Charleston Dirty Birds moved into sole possession of 2nd place in the Atlantic League of Professional Baseball’s South Division. Photo: Charleston Dirty Birds Twitter/@dirtybirdscwv
Anfernee Seymour and Todd Isaacs in independent baseball playoff races By RENALDO DORSETT Tribune Sports Reporter rdorsett@tribunemedia.net BAHAMIAN players in independent baseball are making a second-half playoff push with their respective clubs. Anfernee Seymour and his Charleston Dirty Birds have moved into sole possession of second place in the Atlantic League of Professional Baseball’s (ALPB) South Division. A five-game win streak has improved Charleston’s second-half record to 9-9, trailing only the 14-3 Gastonia Honey Hunters. At the halfway point of the 132game schedule earlier this month, the teams with the best records in the league’s North (Southern Maryland Blue Crabs) and South (Honey Hunters) Divisions clinched playoff berths.
The Dirty Birds finished fourth in the division in the first half of the season at just 26-40. In the second half, the league division standings reset and clubs will compete for second-half titles and the final two playoff berths. The ALPB is an official MLB Partner League based in the MidAtlantic and Southeastern United States. In his debut season with the Dirty Birds, Seymour leads the club with 17 stolen bases and 15 doubles. He also ranks second on the team with 41 runs scored and has a .251 batting average, 58 hits, slugging .372 with a .308 OBP. He also has a .680 OPS with three home runs and 25 RBI. Seymour opened his 2022 season on a high note with a solo home run in his Dirty Birds debut. “This will be our most exciting season to
date,” said Atlantic League president Rick White. “We will field our largest number of clubs, welcome a team in New York City, and have two teams sharing a ballpark in Kentucky. “But perhaps one of the things we are most excited about is a return to our traditional season timeframe.” Todd Isaacs Jr and the New Jersey Jackals also hope to reverse their fortunes in the East Divison of the Frontier League. After winning two of three against the Windy City Thunderbolts, the Jackals improved to 29-40, 3.5 games out of the final playoff spot in the division (Sussex County Miners at 33-27) The top three teams in both the East and West divisions will qualify for the playoffs. Isaacs Jr is in his second season with the Jackals.
Isaacs Jr leads the club and ranks fourth in the league with 22 stolen bases and is 10th in the league with a 337 batting average. Through 48 games he has 69 hits, including nine home runs, 34 RBI, scored 44 runs, and is slugging .517 with a .370 OBP. Like Seymour, Isaacs also got off to a quick start to the season when he finished with three hits, one home run, and four RBI as the Jackals took 2-3 games over the Evansville Otters in Evansville, Indiana on opening weekend. The Frontier League is the largest league in all of independent professional baseball. It includes teams in the Northeastern and Midwestern United States and Eastern Canada. Last year it merged with the American Association and the Atlantic League to become an official MLB Partner League.
ENGLAND SWEEPS PAST SWEDEN 4-0, REACHES EURO 2022 FINAL SHEFFIELD, England (AP) — England is heading back to Wembley Stadium for a European Championship final. This time it’s the women’s team going for the title. Sealed with an impudent back-heeled goal by Alessia Russo, England swept past Sweden with a 4-0 win yesterday in the first Euro 2022 semifinal match. Germany or France awaits in Sunday’s final — they play today — and the winner will be taking on a host team that has captured the imagination of a nation. Just like England’s men’s team did last summer at Euro 2020, when it got to the final at Wembley but lost in a penalty shootout to Italy. “Football’s Coming Home” — English soccer’s anthem — was sung by the excitable home fans in the crowd of 28,624 at Bramall Lane in Sheffield in the final minutes of what proved to be a one-sided match as England reached the final of a European Championship for the third time, after 1984 and 2009. England lost both times and has never won a major international tournament. The Swedes, ranked No. 2 in the world behind the United States, were supposed to represent England’s toughest test of the tournament but they had no answer to the attacking power of Sarina Wiegman’s team. Or its brilliant finishing.
“This result will go all over Europe and the world,” Wiegman said. “It was such a performance that, tomorrow, everyone will talk about us.” Beth Mead scored her tournament-high sixth goal to set England on its way, controlling Lucy Bronze’s cross from the right and shooting home first time on the turn from 10 yards (metres) in the 34th minute. Mead is only the second player to score six goals at a single Women’s Euros, after Germany’s Inka Grings in 2009. Bronze, England’s right back, scored herself in the 48th with a far-post header from a left-wing corner, the ball going through two pairs of legs and past latediving goalkeeper Hedvig Lindahl. The third goal was the best of all and summed up the confidence coursing through this England team. Russo — just on as a substitute — had a close-range shot saved but gathered the rebound and, facing away from goal, produced a cheeky backheel that went through the legs of the 39-year-old Lindahl. Fran Kirby added the fourth through a chip from the edge of the area that Lindahl got both hands to but couldn’t stop the ball rolling into the net. “I don’t think we started the game well but still we found a way,” said Wiegman, who was coach of the
ENGLAND’s team players celebrate as they won the Women Euro 2022 semi-final soccer match against Sweden at the Bramall Lane Stadium in Sheffield, England, yesterday. (AP Photo/Rui Vieira) Netherlands team that won the Euros in 2017. The match could have been different had Sweden taken a couple of early chances, the first falling to Sofia Jakobsson after barely 20 seconds but Mary Earps made a save with her left foot. Then, in the 11th minute, Stina Blackstenius headed against the crossbar from only a few yards out at a corner. England survived, worked out how to really hurt Sweden — primarily down the flanks — and didn’t look back. The Swedes, the European champions in 1984, were looking to reach their first final since 2001 and fifth in total. Instead, they are going home and it is England heading to the final, thrilling a nation that has fallen for its entertaining women’s team that has scored 20 goals this tournament — nine more than any other country.
WHERE’S JIMMY G GOING? The San Francisco 49ers made it clear Trey Lance will be the starting quarterback and they’re moving on from Jimmy Garoppolo, who led them to a Super Bowl appearance following the 2019 season and nearly another one last season. The Niners have to trade or release Garoppolo before Week 1 to avoid having his $24.2 million base salary become fully guaranteed. Garoppolo would’ve been moved already if it weren’t for his offseason shoulder surgery. “This is Trey’s team. That’s nothing against Jimmy,” 49ers coach Mike Shanahan said. “We made that decision a year ago and we’re not going to mess around with that anymore. ... Jimmy understands that fully. He’s a big guy and it’s nothing against him. It’s a business decision.” BAKER OR SAM? The Carolina Panthers acquired Baker Mayfield from the Browns earlier this month and plan to let him compete with Sam Darnold for the starting quarterback job. Mayfield, the No. 1 overall pick in 2018, has been more successful than Darnold, who was the third pick by the Jets in the same draft. Panthers coach Matt Rhule isn’t going to rush a decision. “Anytime you put timelines on things, you end up rushing to make bad decisions,” Rhule said. “To me this is about being in the moment but not making rash judgements. Guys are going to have good days and bad days. When we know, we know.” WHEN DOES LAMAR GET PAID? The Baltimore Ravens still haven’t locked Lamar Jackson into a long-term contract extension but the two sides have been talking. Jackson, the 2019 NFL MVP, saw his value increase after the Cardinals gave Kyler Murray a deal worth up to $230.5 million with about $105 million guaranteed at signing and $160 million guaranteed for injury. Jackson doesn’t have an agent, which could impact negotiations. It wasn’t a factor for his rookie deal because the collective bargaining agreement predetermines the money in each draft slot. This contract is far more lucrative. ARE THEY HEALTHY? Saints quarterback Jameis Winston, Buccaneers wide receiver Chris Godwin, Ravens running back J.K. Dobbins are among more than 50 players returning from ACL injuries. Panthers running back Christian McCaffrey played only seven games last season because of hamstring and ankle injuries. Titans star running back Derrick Henry missed nine games with a foot injury before playing in the team’s playoff loss to the Bengals. Cowboys receiver Michael Gallup, Ravens running back Gus Edwards, Titans receiver Robert Woods, Packers tight end Robert Tonyan are also coming back from ACL surgery. Saints star wideout Michael Thomas missed 2021 because of a severe ankle injury, and Vikings receiver Adam Thielen had ankle surgery in December.
PAGE 14, Wednesday, July 27, 2022
EIGHT TENNIS JUNIORS TAKE ADVANTAGE OF JITIC U-14 COMPETITION EIGHT young Bahamian tennis stars are competing in the Under14 JITIC regional event in Mexico. They are Jackson Mactaggart, Jerald Carroll, William McCartney and Patrick Mactaggart for the boys, and Tatyana Madu, Breann Ferguson, Kaylah Fox and Briana Houlgrave for the girls. The U14 JITIC is an individual tennis championship event for top junior athletes in the U14 category in the Central American and Caribbean region. Approximately 80 boys and girls are competing in this event. On Day 1 some good victories were recorded. Jackson Mactaggart, the top-ranked Bahamian in the tournament, is seeded 7th. Jackson won 6-0, 6-1 over Caraballo from Puerto Rico and lost to Alfred of the US Virgin Islands 1-6, 2-6. William McCartney, the 15th seed in the tournament, won over Rodriguez from the Dominican Republic 6-1, 6-1 and also over Vasquez from Guatemala 6-4, 6-3. Jerald Carroll won over the 14th seed Herrarte from Guatemala 6-2, 6-1 and also over Petit of Bermuda 6-1, 6-1. Patrick Mactaggart lost to the 11th seed from Mexico Cossio 1-6, 2-6. Patrick played in a thriller of a match against Nelthropp of US Virgin Islands where he split sets 7-6, 5-7 and lost 5-10 in the match tiebreak. On the girls’ side, Breann Ferguson lost 0-6, 0-6 to Mexico’s Garzon, the 12th seed. Briana Houlgrave lost to the 4th seed Mexico Estrada 0-6, 0-6. Kaylah Fox lost to the 7th seed from Honduras Sucrovich 1-6, 0-6. She followed up with a strong performance against Martinez from El Salvador, winning 6-2, 6-0.
THE TRIBUNE
DOMINIC Thiem (AP)
THIEM ADVANCES AT GENERALI OPEN, SONEGO LOSES
THE TALENTED EIGHT: Eight young Bahamian tennis players are competing in the Under-14 JITIC regional event in Mexico. They are shown above - Jackson Mactaggart, Jerald Carroll, William McCartney and Patrick Mactaggart for the boys and Tatyana Madu, Breann Ferguson, Kaylah Fox and Briana Houlgrave for the girls. At the end of Day 2, Jerald Carroll and William McCartney would remain undefeated in tournament play. Caroll won convincingly over Mendoza 6-0, 6-0 and also over the 6th seed Da Costa 6-3, 6-2. McCartney would win over Gom from Honduras 7-5, 6-1 and over Mora of Costa Rica 7-6, 6-2. Both Jerald and William are 4-0 in the
tournament. Jackson Mactaggart also recorded two wins yesterday against Trinidad’s Haricharran and Barbados’ Clarke 6-2, 6-1 and 6-1, 6-1 respectively. Jackson has a solid 3-1 record in his pool play. Patrick Mactaggart would also win over Campbell-Smith from Trinidad 6-4, 6-3 on day 2. On the girls’ side, Brianna Houlgrave would be
victorious over the 15th seed Trinidadian Haricharran 7-6, 6-3. Breann Ferguson won in straight sets over Drigon from Grenada 6-2, 6-1. Kaylah Fox lost against the 13th seed, De Reyes from Mexico 0-6, 0-6. Tatyana Madu lost 2-6 4-6 against Alvarez of Mexico, the 14th seed and also against Garcia 4-6, 4-6 in a competitive matchup.
“The Bahamas Lawn Tennis Association (BLTA) extends best wishes as the talented group of juniors will continue to compete in their respective pools. The results will determine their advancement to main draw action. We pray our juniors will continue to have strong performances as they display their skills internationally,” according to a press release.
KUTZBUEHL, Austria (AP) — Dominic Thiem, the 2020 US Open champion, made a victorious return to the Generali Open yesterday by defeating Alexander Shevchenko 6-4, 6-2 to advance to the second round of the tournament he won in 2019. The 28-year-old Austrian, who came back in March from a long-term wrist injury, showed signs of his previous form by reaching the quarterfinals in Bastad and the semifinals in Gstaad before playing his first match in Kitzbühel since his title three years ago. Thiem will face an unexpected opponent next in fellow Austrian Sebastian Ofner, a qualifier who came from a set down to stun 10th-seeded Richard Gasquet of France 1-6, 7-5, 7-5. Also, seventh-seeded Pedro Martinez of Spain advanced by beating wildcard entry Nicolas Jarry of Chile 7-6 (4), 6-3. His fellow Spaniard Pablo Andujar followed suit, upsetting ninth-seeded Italian Lorenzo Sonego 6-4, 3-6, 7-6 (4). Germany’s Yannick Hanfmann was leading leading 6-4, 1-1 when qualifier Gerald Melzer of Austria retired, allowing the German to advance.
Column: Disruption now the norm until end of PGA Tour season By DOUG FERGUSON AP Golf Writer IT HAS already been a good week for Jason Day and Rickie Fowler before they even hit a shot at the Rocket Mortgage Classic in Detroit. Both were outside the top 125 in the FedEx Cup standings with only two tournaments left in the PGA Tour’s regular season, leaving them in jeopardy of missing out on the postseason. They are exempt through at least
next season, so this largely would be a matter of pride, particularly for Day. A former world No. 1, he has never been ineligible for the FedEx Cup playoffs. But then a memo arrived overnight involving the Saudi-backed LIV Golf series, one that didn’t include phrases like “force for good” and “unique energy.” PGA Tour Commissioner Jay Monahan informed players their eligibility would not be affected by those playing in LIV Golf
events with their 48-man fields and $25 million prize funds. The PGA Tour now has a separate “FedEx Cup Playoffs and Eligibility Points” list to reflect that. Eight players from the top 125 in the FedEx Cup standings played in the LIV Golf series and were suspended. Two others from the top 125, Jason Kokrak and Charles Howell III, have signed up and will play at Trump National in Bedminster, New Jersey, this week.
Day was No. 127 on Sunday. Yesterday, he was up to No. 119. Fowler went from No. 132 to No. 124. They will move up two more spots when Kokrak and Howell put a ball in play at 1:15 pm Friday (still to be determined is which hole in the shotgun start) and are suspended. Monahan said the separate list ensures “any suspended players will not negatively impact bonus money distributions.” As if the FedEx Cup points system wasn’t already challenging, now there are two lists. The “official” FedEx Cup standings still includes the suspended players, from Talor Gooch (No. 20) to Kokrak (No. 41) to Brooks Koepka (No. 102). They still get FedEx Cup bonus money, which is paid out through 150th place. Gooch currently would stand to get $640,000, half of it deferred. That might seem like chump change to him. Gooch got more for finishing seventh, two shots behind Jinchiro Kozuma, in the LIV Golf InvitationalPortland three weeks ago. The new list, approved by the policy board, pays a bonus equal to the amount a player would have earned if the suspended players’ points didn’t count. Missing from both lists are players who have resigned, such as Dustin Johnson, Patrick Reed, Louis Oosthuizen and Hudson Swafford. It’s another reminder of how the disruptions never cease, and presumably won’t, given as much money as Greg Norman has at his
disposal. Based on various reports, LIV Golf has dropped about $1 billion in signing bonuses already. It still doesn’t have any players from among the top 15 in the world. That can still change, of course. Bedminster figures to be the biggest spectacle thus far, held on the course owned by former President Donald Trump, who last week said on his social media platform, Truth Social, that anyone remaining loyal “to the very disloyal PGA” will miss out on the money. He predicted the two circuits eventually would merge. That seems unlikely as long as Norman is running the show. He keeps throwing around terms like “free agents” while ignoring that most of the players have signed a contract. Graeme McDowell had to skip the Irish Open because it was the same week as a LIV event. Meanwhile, each month brings twice as many rumours as actual defectors. The original roster was announced nine days after the PGA Championship. Brooks Koepka joined two days after the US Open. Three days after the British Open, the latest batch was highlighted by Henrik Stenson, who was stripped of his Ryder Cup captaincy. So much for any lingering discussions of major championships. The first LIV Golf event in the US came during a soft part in the PGA Tour schedule, and Norman tweeted a list showing how the field outside Portland,
Oregon, had more star power than the Irish Open and the John Deere Classic. The Rocket Mortgage Classic seemed like another easy target — two weeks after the British Open, two weeks before the start of the FedEx Cup playoffs — except that Detroit is more than holding its own. Patrick Cantlay (No. 4) leads five players from the top 20 in the world. Bedminster has one of the top 20 (Dustin Johnson) and four of the top 25. Under the new world ranking system that starts next month, the winner in Detroit would get 45 world ranking points, compared with 17 for the LIV Golf event. That assumes LIV Golf ever gets approved by the Official World Golf Ranking board, which could be a year away. The curious decision the PGA Tour faces now is what to do with who’s next. LIV Golf doesn’t play again until September 2 outside Boston, a week after the FedEx Cup is over. Currently, a player isn’t suspended until he puts a ball in play at a LIV event. That would indicate such a player could compete for the $18 million top prize in the FedEx Cup and then jump over to LIV, which will have five tournaments remaining this year. Still on the horizon is the Presidents Cup and what kind of team the International side can field. With so much Saudi money behind it, LIV Golf isn’t going anywhere in a hurry. Neither are the disruptions.
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 15
Armando Moss earns right to represent Bahamas in triathlon at the Commonwealth Games By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net MAKING the switch from swimming has certainly paid off for Armando Moss. The former national team swimmer used his experience to help him to win the Bahamas Triathlon Association’s National Championship title at Jaws Beach in May with a personal best time of one hour, six minutes and 54 seconds, inclusive of 10:17 in a 750 metre swim, 30:28 on a 20-kilometre bike ride and a 4:30 in a 5K run. As a result of his performance, Moss has earned the rights to represent the Bahamas in triathlon at the Commonwealth Games that will be staged from July 27 to August 7 in Birmingham, England. “I feel proud. It’s been 6 years since I’ve been on Team Bahamas and even longer since I’ve competed abroad,” Moss said. “I also feel grateful that The Bahamas is in a position to develop newer sports like triathlon. “Lastly, I’m fairly happy that the sacrifices that I’ve made have given me this opportunity.” Moss, who is currently based in Cincinnati, Ohio where he is an advisory manager specialising in financial due diligence at Price Waterhouse Coopers, said his preparation for the championships has been very stressful. “An endurance sport such as this requires countless hours,” he said. “I switched from swimming to triathlon because I didn‘t
ARMANDO Moss kisses his trophy after winning the Bahamas Triathlon Association’s national championship title at Jaws Beach in May. As a result of his performance, Moss has earned the rights to represent the Bahamas in triathlon at the Commonwealth Games that will be staged from July 27 to August 7 in Birmingham, England. have the capacity in my work schedule to train for swimming not knowing that tri-training would be a drastic increase in training hours.” With this being just the third triathlon for Moss, who will celebrate his 30th birthday on the day of his competition on July 29, he’s not putting any high expectations on himself, but he admitted that he has a strategy and a goal and he’ll just see how he’s able to respond on race day. Cameron Roach, another former national team swimmer turned triathlete, will be travelling with Moss as
the team coach. He said as the lone competitor to compete in the triathlon for the Bahamas, they are just looking for him to complete the course, hopefully in the peloton at the end. “The professionals he will be competing against are very good, so to make podium is not realistic,” Roach admitted. “But to be somewhere in the middle of the pack is certainly a reality. “As a former swimmer, we expect for him to get out there with the top swimmers and, of course, he’s a pretty good cyclist, so if he can be right up there
with the rest of the field, he should be able to hold his own in the run.” Moss concurred, noting that his swimming experience should really be a plus for him heading into the bike and the run segment. “Typically I say that I’m at a disadvantage because the swim portion of the race is generally much shorter (distance and time to complete) than the other sports,” Moss pointed out. “Therefore typically cyclists and runners have more of an advantage, however, given the importance of drifting while cycling in this race, it is extremely
important to be well-positioned out of the water and onto the bike therefore favouring my swimming ability.” Moss, however, threw caution to the wind, adding that the open water is very different than swimming in a pool, so it could be a subject for another topic after his appearance at the games. But the single father of a son, Armando Moss Jr, assured the public that he’s going to Birmingham to give it his best shot, not just in the swim, but the bike and the run as he makes a successful international debut in the triathlon.
New York Liberty control own destiny in playoff chase By DOUG FEINBERG AP Basketball Writer NEW York coach Sandy Brondello isn’t scoreboard watching with the Liberty two games out of a playoff spot — and may not have too. There are eight postseason berths in the WNBA and New York (10-17) is 10th in the standings heading into Tuesday night’s games with nine contests remaining. But the good news for the Liberty is that eight of those nine games are against Dallas, Phoenix, Los Angeles and Atlanta — teams they trail by two wins. New York is still in the playoff race despite dropping seven of their last nine games. “We control our own destiny,” Brondello said Monday after practice. “We are just going to take it one game at a time and see where we end up.” New York was in a very similar position last year and the Liberty earned a playoff spot on the final day of the regular season. The Liberty close out this season with a home-andhome with the Dream, who are battling for a postseason berth themselves. The Liberty also are in 10th in the AP WNBA power poll this week. • This week’s WNBA poll: 1. Chicago (21-7): The Sky had their six-game winning streak end in New York, but now will have Courtney Vandersloot back in the lineup after clearing concussion protocol. Her presence will give them a lift down the stretch. 2. Las Vegas (20-8): The Aces will be tested with their next five games on the road. The trip begins Tuesday night in Chicago
Phoenix and Tina Charles parted ways last month the same way. The 30-year-old Cambage signed with Los Angeles on February 15 as a free agent. She averaged 13.0 points, 6.4 rebounds and 1.6 blocks in 25 games this season. GAME OF THE WEEK: Seattle at Washington, Saturday and Sunday. These two games may go a long way to figuring out who gets homecourt advantage if these two teams — currently in fourth and fifth place in the standings — meet in the playoffs.
NEW York Liberty head coach Sandy Brondello reacts during the first half of WNBA basketball game against the Seattle Storm Sunday, June 19, 2022, at Madison Square Garden in New York. Brondello feels that the Liberty are in control of their playoff chances still. (AP Photo/Mary Altaffer) for the Commissioner’s Cup championship. 3. Connecticut (19-9): The Sun are 5-1 since the All-Star break, but lost recent acquisition Bria Hartley to a knee injury in their last game. 4. Seattle (18-10): Tina Charles had the best game since signing with the Storm in a win over Atlanta. She can provide a huge lift as a third scoring option for Seattle. The 33-year-old Charles became the fourth player in league history to reach 7,000 points last week. 5. Washington (17-11): The Mystics begin a busy week with a trip to Dallas that Elena Delle Donne will most likely skip before playing consecutive home games against Seattle. She’s averaged 23.4 points the last five games. 6. Atlanta (12-16): The Dream return home for four straight games. That homestand will go a long way in determining whether they can make the playoffs for the first time since 2018.
7. Los Angeles (12-15): The Sparks need to find consistent offensive help for Nneka Ogwumike to make a run at the playoffs. She’s averaging 18.7 points — third most in her career. 8. Dallas (12-15): The Wings lately have gotten solid production from Teaira McCowan, who has provided an inside presence to pair with Arike Ogunbowale on the outside. 9. Phoenix (12-16): The Mercury still have no inside threat on offense that demands a double-team. Their wins usually come when Skylar Diggins-Smith, Diana Taurasi and Sophie Cunningham play well. 10. New York (10-17): The Liberty have rarely had their full team together this season because of injuries and still are missing Betnijah Laney (knee). Han Xu has been a bright spot for the team all season as the 6-foot-10 Chinese center continues to develop. 11. Minnesota (10-19): The Lynx have dropped four out of their last five
and are in jeopardy of missing the postseason for the first time since 2010. 12. Indiana (5-25): There have been few bright spots for the Fever in terms of wins this season, but Indiana has gotten another strong year from guard Kelsey Mitchell, who is averaging a career-best 18.6 points. PLAYER OF THE WEEK Alyssa Thomas of Connecticut was voted the AP Player of the Week. She averaged 16 points, 11 rebounds and 7.3 assists and had the first triple-double of her career to help the Sun win all three of their games. Skylar DigginsSmith of Phoenix, Nneka Ogwumike of Los Angeles, Candace Parker of Chicago and A’ja Wilson of Las Vegas also received votes. ANOTHER DIVORCE The Los Angeles Sparks announced yesterday that they have agreed to a contract divorce with Liz Cambage. It’s the second time this season a team has done that with a player as
RUSSIA EYES 2024 PARIS OLYMPICS DESPITE SPORTS BANS PARIS (AP) — With two years to go until the Paris Olympics open, Russia is making plans for its athletes to live and compete in the French capital even though many remain barred from upcoming qualification events because of the war in Ukraine. Russian Olympic Committee president Stanislav Pozdnyakov wrote on the Telegram messaging app yesterday that the country was working to get its athletes access to qualification events and already making plans for the Olympic village in 2024. Most Olympic sports have suspended athletes from Russia and Belarus since the invasion of Ukraine began in February, following a recommendation from the International Olympic Committee. However, the IOC has not suspended the Russian Olympic Committee, the body which enters Russian teams for the Games. “In exactly two years, the Olympic Games start in Paris. Despite all of the circumstances, the Russian Olympic Committee is a full-fledged participant in the Olympic movement,” Pozdnyakov wrote. “We are continuing our systematic preparations for the Games and are also carrying out work to ensure qualifying opportunities and equal presence of our athletes in the Olympic village and at the venues, their participation in events during the Games.” Qualifying for some Olympic sports has already begun, but others won’t start until next year. If sports federations lift bans on Russian athletes competing in international events such as Olympic qualifiers, that could lead to boycotts by Ukraine. The International Judo Federation has allowed Russia’s team to keep competing as neutral athletes without their flag or anthem. In response, Ukraine refused to participate when Olympic judo qualifying began last month, in particular because it said that 11 of 24 athletes on the Russian team at the event were members of the military.
PAGE 16, Wednesday, July 27, 2022
THE TRIBUNE
PELICANS ROOKIE LIDDELL HAS KNEE SURGERY
Lourawls Nairn Jr assistant coach for Mokan Peach Jam title team By RENALDO DORSETT Tribune Sports Reporter rdorsett@tribunemedia.net LOURAWLS Nairn Jr achieved many milestones as a player for Mokan Elite Basketball and is now starting to build his résumé on the sidelines as a coach on the staff of his former AAU club. Nairn served as an assistant coach for the latest Mokan Elite team that captured the 17U title at the Nike Elite Youth Basketball League Peach Jam, hosted at the Riverview Park Activities Center in North Augusta, Georgia. Mokan Elite edged out Team Takeover 53-52, and ends the summer circuit for the club with a record of 26-4. Nairn reflected on his days as a player at the same event a decade ago when his title chase came up just short. “Ten years ago, I was on the first Mokan EYBL final four team as a player. We lost that final four game,” he said. “Yesterday I was on our third peach jam championship team as an assistant coach! I have a word for you. Just because you didn’t accomplish something in one season of your life, doesn’t mean you can’t accomplish it in another!! Don’t get off the treadmill first! To God be the glory! Peach Jam Champs!” The Nike EYBL circuit traditionally showcases the top players and
programmes throughout the United States culminating in a week long competition at the Peach Jam. Los Angeles Lakers star LeBron James and University of Kentucky Wildcats head coach John Calipari were among the many current and future Basketball Hall of Famers in attendance. Nairn’s post playing career has taken him to the NBA, NCAA and prep levels. He currently serves as the head coach of the post graduate basketball programme at Sunrise Christian Academy in Bel Aire, Kansas. He spent the 2018 season in a role with the Phoenix Suns as a member of the coaching staff with a focus on player development and also made his debut as an author with an autobiography entitled “Purpose Driven.” After two years, he returned to his prep alma mater for the first head coaching appointment of his young career. During his playing days at Sunrise, Nairn rose from a little known recruit to a highly sought after Division I prospect. In his senior season with the Buffaloes, he averaged 17.6 points, 5.7 assists, 2.8 rebounds and 1.7 steals per game to lead SCA to a 16-3 record. He shot 52.4 percent from the field, including 38.9 percent from threepoint range and started
BAYERN SIGNS FRENCH TEEN MATHYS TEL IN DEAL WORTH UP TO $30M
LOURAWLS Nairn Jr is now starting to build his résumé on the sidelines as a coach on the staff of his former AAU club. He served as an assistant coach for the latest Mokan Elite team that captured the 17U title at the Nike Elite Youth Basketball League Peach Jam, hosted at the Riverview Park Activities Center in North Augusta, Georgia. every game over his final two seasons. Sunrise Christian Academy retired Nairn’s no.11 jersey in 2021. He went on to play four seasons for the Michigan State Spartans and was part of two Big Ten championship teams while reaching the Final Four in his freshman season of 2015. “It is such a blessing to be able to start my coaching career at my high
school alma mater, a place that is so close to my heart,” Nairn said at the time of his appointment. “Like being a graduate manager the past two seasons for coach Izzo and the Michigan State men’s basketball team, this opportunity is another depiction of the grace of my Lord and Saviour, Jesus Christ. I’m ready to learn, lead, motivate, inspire and, most importantly, serve.”
Nairn was one of several players in the pipeline from The Bahamas to Sunrise Christian. These players also included Indiana Pacers guard Chavano “Buddy” Hield (Oklahoma) along with Division I talents Nathan Bain (Stephen F Austin), Travis Munnings (Louisiana-Monroe), and Radshad Davis (UTArlington/FIU) among others.
SOFTBALL FROM PAGE 12
Mingoes 10, Operators 8 Ramona Hanna not only was the winning pitcher over Tyler Miller, but she also went 2-for-4 with four RBI and two runs scored in Friday’s opener.. Cyntese Cooper went 2-for-4 with a RBI and two runs scored, and Sophia Cartwright was 1-for-2 with two RBI and as many runs scored. In a losing effort, the mother and daughter combo of Melinda Bastian and Vanessa Sawyer provided the spark. Bastian was 2-for-4 with three RBI and two runs scored and Sawyer was 2-for-4 with three runs scored. Wildcats 11, Lady Truckers 6 Thela Johnson-Stevens got the win over Mia Turner on the mound in Friday’s feature contest. Lashonda Bethel led
TOP AND RIGHT: NPSA players in action on Saturday. Sunshine Auto offensively with a 1-for-3 production with an RBI and three runs scored. Sari Albury was 2-for-4 with a run scored in a losing effort for the Lady Truckers. Wildcats 15, Mingoes 3 Thela Johnson-Stevens got the win over Ramona Hanna on the mound, and she helped her own cause by going 2-for-3 with six RBI and two runs scored in Thursday’s opener.
NEW ORLEANS (AP) — New Orleans Pelicans second-round draft choice E.J. Liddell has had surgery to repair torn knee ligaments, the team said yesterday. The injury to the 6-foot-6 forward from Ohio State occurred during a Summer League game on July 11 against the Atlanta Hawks in Las Vegas. The Pelicans said the procedure performed Monday was a right ACL reconstruction and that Liddell remains out indefinitely. Drafted 41st overall, Liddell averaged 19.4 points and 7.9 rebounds with the Buckeyes last season. It wasn’t clear if he was going to make the Pelicans’ regular-season roster because the team already had 15 players under contract for next season. But Liddell could have been a two-way player, also spending time with the Pelicans’ G League affiliate in Birmingham.
Aleah Ferguson also helped out Sunshine Auto’s offensive attack by going 2-for-3 with three RBI and as many runs scored and Ciara Bowe was 1-for-2 with an RBI and a run scored. Cyntese Cooper went 1-for-2 with an RBI and a run scored in a losing effort. Titans 7, Renegades 2 Cardinal Gilbert got the win in Thursday’s feature contest and Dylan Culmer was the losing pitcher.
TEAM STANDINGS Men’s Division Teams W Mystic Marlins 2 Atlantis Titans 3 C&S Hitmen 1 Mighty Mitts 1 Renegades 0
L 0 1 1 2 3
Pct. 1,000 .750 .500 .333 .000
GB 1 11/2 11/2 21/2
0 1 2 1 2
1.000 .666 .333 .000 000
1 2 2 21/2
Ladies’ Division Wildcats Lady Truckers UB Mingoes Scorpions Operators
3 2 1 0 0
MUNICH (AP) — Bayern Munich signed French teenager Mathys Tel from Rennes yesterday for a reported fee of up to 30 million euros ($30.6 million). The 17-year-old Tel, who plays as a forward, had a contract with Rennes through 2024. Bayern did not specify the length of the contract or disclose the transfer fee. Kicker magazine reported the German club was paying 15 million euros ($15.3 million) up front, with the rest conditional on appearances and achievements. “He’s a very young talented player, he can play in many positions, centre forward, wing forward. He’s very quick, strong, with his whole body, good at defending the ball … also good, deep runs,” Bayern coach Julian Nagelsmann said on the team’s US tour last week. “I hope he will be comfortable with then group as soon as possible. He may score some goals.” Nagelsmann said Tel was not a direct replacement for Bundesliga top-scorer Robert Lewandowski, who left for Barcelona in the offseason. “He’s not a one-on-one for Lewy,” Nagelsmann said. “I think it’s normal when you talk about his age and his appearances in professional soccer. But he could one day be one of the best forwards and that’s our aim, our plan. We always try to find good young talented players who could develop into world-class players, and he could be one of these players.” Tel made 10 appearances for Rennes without scoring. But his performances as a youth player — including winning the European under-17 championship as France captain last month — brought him to the attention of Europe’s biggest clubs. “Tel is a very interesting player that we’ve been following for a long time,” Bayern chief executive Oliver Kahn said recently. “An extremely good talent.”
To Publish your Financials and
Legal Notices Call: 502-2394
PAGE 18, Wednesday, July 27, 2022
THE TRIBUNE
GRIM NEWS FROM WALMART SENDS US MARKETS LOWER By ALEX VEIGA AP Business Writer
MARKET REPORT www.bisxbahamas.com
TUESDAY, 26 JULY 2022
BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 53.00 2.47 2.61 2.60 6.10 10.05 4.15 10.00 3.65 8.25 17.50 2.65 10.75 11.25 10.85 18.10 4.00 11.00 16.50
52WK LOW 5.30 33.80 1.60 2.20 1.30 5.75 6.96 2.82 5.40 2.27 5.95 9.80 1.99 7.75 10.02 10.00 13.10 3.50 8.20 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
1.00 10.00 1.00
1.00 10.00 1.00
Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 9 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%
2616.99
-0.53
-0.02
388.75
17.45
SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB9 CHLA FBBA FCLB SYMBOL FBB22 BFHB
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.10 100.57 100.43 100.43 100.34 100.23 100.00 100.00 100.98 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.10 100.34 99.96 100.43 100.04 100.00 89.62 89.00 90.24 90.73
MUTUAL FUNDS 52WK HI 2.52 4.69 2.22 207.86 212.41 1.74 1.84 1.83 1.03 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 1.69 1.75 1.76 0.97 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 FL BGRS76026 BGRS FL BGRS95032 BGRS FL BGRS97033 BGRS FL BGRS75022 BGRS FL BGRS81037 BGRS FL BGRS88028 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150
BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS760265 BSBGRS950320 BSBGRS970336 BSBGRS750225 BSBGRS810375 BSBGRS880287 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504
LAST CLOSE 6.70 39.95 2.44 2.35 2.51 6.10 9.75 3.88 9.98 3.60 8.00 16.00 2.91 10.27 11.51 10.85 18.10 3.90 11.00 15.50 1.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.10 100.45 100.09 100.54 100.34 100.00 89.62 100.00 100.00 100.00
CLOSE 6.70 39.95 2.44 2.35 2.51 6.10 9.75 3.88 9.98 3.59 8.06 16.00 3.02 10.26 11.60 10.85 18.10 3.90 11.00 15.50 1.00 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
200 10,000 2,500 500 1,000 1,330
0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00 100.00
CHANGE 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.10 100.45 100.09 100.54 100.34 100.00 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 (0.01) 0.06 0.00 0.11 (0.01) 0.09 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
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
INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.56% 4.31% 4.31% 4.43% 4.87% 4.33% 5.55% 5.60% 5.65% 5.69%
NAV 2.52 4.69 2.21 197.44 202.39 1.74 1.84 1.83 0.97 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% 1.37% 3.03% 1.19% 5.23% 1.62% 4.13% -5.25% -6.07% -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 28.0 42.9 N/M 16.8 N/M N/M 26.4 -8.9 71.3 19.5 18.0 22.2 29.6 22.0 18.0 14.9 22.2 19.2 11.7 24.6 0.000 0.000 0.000 0.000 0.000 0.000
YIELD 2.54% 3.15% 0.82% 3.40% 0.00% 0.00% 2.67% 0.00% 0.00% 3.34% 2.73% 4.50% 14.37% 0.58% 2.83% 2.21% 2.98% 3.08% 1.82% 3.94% 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 18-Jan-2026 25-Sep-2032 17-Apr-2033 7-Sep-2022 26-Jul-2037 26-Jul-2028 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-May-2022 31-May-2022 31-May-2022 31-May-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
BIG retailers and technology companies led stocks lower on Wall Street Tuesday after Walmart warned that inflation is hurting American consumers’ spending power. The sell-off comes ahead of the Federal Reserve’s latest interest rate policy statement on Wednesday, when economists expect the central bank to announce another sharp rate hike as it ratchets up its fight against surging inflation. The S&P 500 fell 1.2%, wiping out nearly half of the benchmark index’s gains from last week. The Dow Jones Industrial Average dropped 0.7% and the tech-heavy Nasdaq Composite closed 1.9% lower. Walmart slumped 7.6% after the retail giant cut its profit outlook for the second quarter and the full year late Tuesday, saying that rising prices for food and gas are forcing shoppers to cut back on more profitable discretionary items, particularly clothing. The retailer’s profit warning in the middle of the quarter is rare and raised worries about how the highest inflation in 40 years is affecting the entire retail sector. Stocks of other major chains also fell. Target dropped 3.6%, Macy’s slid 7.2% and Kohl’s fell 9.1%. Investors have remained deeply concerned about inflation’s impact on company profits and how it will affect U.S. consumers. While Americans’ finances are relatively strong thanks to savings built up during the pandemic, those nest eggs are being spent on high gas and food prices. “The client base of Walmart is obviously in probably the lower quarter or maybe lower third of the income brackets,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “Those aren’t people that drive most of the discretionary spending anyway, but they are people who are most vulnerable to the inflation pressures.” Stock indexes were in the red from the get-go Tuesday as traders reacted to Walmart’s announcement. The S&P 500 fell 45.79 points to 3,921.05. The Dow lost 228.50 points to end at 31,761.54. The Nasdaq fell 220.09 points to 11,562.57.
The major indexes are coming off solid gains last week fueled by mostly better-than-expected reports on corporate profits. Falling yields in the bond market also helped, easing the pressure on stocks after expectations for rate hikes by the Federal Reserve propelled yields higher much of this year. The central bank is expected to announce a rate hike of up to threequarters of a percentage point on Wednesday, triple the usual amount. The central bank is waging an aggressive campaign to stem four-decade high inflation. The expected hike would put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest since 2018. Bond yields were mixed Tuesday. The two-year Treasury yield, which tends to move with expectations for the Fed, rose to 3.04% from 3.02% late Monday. The 10-year yield, which influences mortgage rates, fell to 2.80% from 2.82%. Technology stocks, retailers and communication companies were among the biggest drags on the benchmark S&P 500 index. Microsoft fell 2.7%, Amazon slid 5.2% and Facebook owner Meta Platforms dropped 4.5%. The losses easily outweighed gains by health care and utilities stocks. Small company stocks also fell. The Russell 2000 gave up 12.53 points, or 0.7%, to end at 1,805.25. Investors eyed the latest batch of corporate earnings reports Tuesday. Shares of automaker General Motors fell 3.4% after the company said its second-quarter profit fell 40% from a year ago, as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%. The Detroit automaker earned $1.67 billion from April through June, well below the $2.79 billion it made a year earlier. GM couldn’t deliver 95,000 vehicles during the quarter because it lacked parts. Shopify slumped 14.1% after the Canadian e-commerce company said it is cutting 10% of its staff, or about 1,000 employees, as it reckons with an unexpected sales downturn after pandemic-fueled growth. Technology bellwethers Meta, Apple and Amazon report quarterly results later in the week.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, ALTRAQUE LATOYA MCDONALD of New Providence one of the Islands of the Commonwealth of The Bahamas, intend to change my name to ALTRANIQUE LATOYA MCDONALD. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
SERENE SEASIDE CORPORATION Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration Number 200672 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 22nd day of July, 2022. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Richard L. Broughton, No 6 Bosham Close, Camperdown Heights, P.O. Box SP-63801, NP, The Bahamas. Persons having a Claim against the above-named Company are required on or before the 19th day of August, 2022 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved. Dated this 27th day of July, 2022
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
__________________________ Richard L. Broughton Liquidator
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 19
CRUISE ISLAND EXPANSION TO DRIVE 149% VISITOR RISE FROM PAGE A24
visits to be cancelled if they were calling on a daily basis unless the two new piers are constructed. The plans are due to be discussed at a public meeting on Great Harbour Cay on August 9, as required by the Environmental Planning and Protection Act, and which can be attended virtually or in-person. NCL owns all of Great Stirrup Cay apart from 25 acres of Crown Land, and is said to have “increasingly invested in the evolution of the island experience from a destination stopover on a sparsely inhabited island to a site offering relaxing options such as dining and shopping, and a day of water sports and excursion for the adventure seekers”. “Since NCL began utilising Great Stirrup Cay as a cruise ship destination facility in the late 1970s, passengers have been transported to the island aboard large passenger tenders from the cruise ship anchored offshore in deeper water to the embarkation/ debarkation docks within the basin, or in earlier days direct via a beach landing,” the EIA said. “NCL and its passengers have significantly missed calls to the port due to unfavourable weather conditions when ferries are not able to safely load and transport passengers due to strong winds and heavy seas, resulting in an unused experience for the cruise passengers and a loss of revenue for both the local Bahamians employees and vendors, and NCL, who rely on the island’s visitors. “To reduce the number of missed calls and lost earnings, and to further NCL’s commitment to enhancing the visitor experience, as part of their master plan NCL is proposing to construct two permanent cruise ship piers on the north side of the island to allow for cruise ship berthing with direct access to the island.” The EIA, produced by Bahamian firm, Islands by Design, with assistance from a Florida firm, Cummins Cederberg, added: “Using a wave analysis to determine the potential downtime reduction with the construction of the new piers, it was estimated that with a significant wave threshold of three feet, the downtime could be up to 30.9 percent under the assumption the island receives ships daily. “The actual downtime could be higher or lower depending on the island’s call schedule. To reduce this number, NCL is proposing cruise piers to improve the safety of mooring ships and guest access to the island during unsuitable weather conditions.” The pier construction and associated expansion are forecast to create 85 jobs during the build-out phase, with completion projected to increase annual visitor numbers by more than 149 percent. “Great Stirrup Cay, as a private island destination, employees some 150 persons on the cay,” the EIA said.
“The pier and expansion project expects to employee some 85 construction workers during the build-out. Additionally, Bahamianowned and operated retail outlets service NCL’s guests on the cay. In 2019, Great Stirrup Cay welcomed 286,357 guests. Under preCOVID-19 trends, NCL expects to see increased passenger volumes of 714,000 once the pier is operational. “Due to increased efficiency of landing and boarding of passengers to the cay, it is expected guests will spend an additional two to three hours on the cay once the pier is operational. This additional time on the cay will allow additional patronising of the local retailers and the opportunity to expand tour excursions to meet increased guests demand.” Based on the increased passenger numbers projected by NCL, the Government’s annual passenger tax revenues from Great Stirrup Cay could increase by $7.704m per annum if the project proceeds and 714,000 visitors arrive to produce a net 428,000 growth. “The development of Great Stirrup Cay is in keeping with the national development plan to have an anchor project in every Family Island,” the EIA added. “In addition to visitors’ patronage of local entrepreneurs, the Government levies a passenger tax on visitors to the country. “A passenger tax of $29 is collected from all airline passengers, and a passenger tax of $18 is collected from all cruise ship passengers. It is anticipated that upon a return to pre-COVID 19 sailing trends, Great Stirrup Cay expects to accommodate 714,000 visitors post expansion with a 10-15 percent increase in passengers per annum as passenger usage stabilises.” The EIA does not, though, give specifics on how revenues and earnings for Bahamian vendors on Great Stirrup Cay will be boosted by the pier construction and improved passenger access. Many Bahamians remain suspicious of the cruise industry’s private islands, viewing them as locations where the sector reaps all the benefits while local entrepreneurs battle for a share of the leftover pickings. “The project will result in immediate job creation and an increase in direct sales and service revenues during the dredging and construction phases,” the EIA added in general terms. “Additional economic benefits to The Bahamas include the continued arrival of tourists and increased Bahamian revenues due to the investment in capital infrastructure. “Project implementation would also mitigate economic losses to vendors and shopkeepers resulting from missed ports of call, and lost pay due to closure of onisland facilities staffed by locals from Great Harbour Cay and nearby islands.” The EIA, which has been updated to account for queries and modifications
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, NICAL LORRET DEMOSTHENE of East Avenue in the Western District of the island of New Providence, Bahamas, intend to change my name to NICAL LORRET MILLER. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
NOTICE is hereby given that ANGELINE EMILE of #69 Rum Cay Place, Hawksbill, Freeport, Grand Bahama, 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 20th day of July, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
requested by the Department of Environmental Planning and Protection (DEPP), as well as recent developments, indicates that the project was initially given the go-ahead by the former Minnis administration on January 2, 2020, but has been delayed for more than two years by COVID and the devastating impact that the pandemic had on the cruise industry’s finances by halting sailing for 15 months. The Bahamas Investment Authority (BIA), in a letter to Erica Paine, the Graham, Thompson & Company attorney acting for NCL, said the National Economic Council (NEC) had approved “significant renovations and improvements to Great Stirrup Cay by the construction of a pier and dredging/excavation of a deep water basin, together with the construction of additional amenities and facilities” subject to the go-ahead from the relevant regulatory agencies. A seabed lease for a yetto-be-determined area, and on undisclosed financial terms, was also approved to accommodate the cruise ship pier and turning basin. The Government’s approval also extends the recommendation of eight work permits for the Great Stirrup Cay construction phase, and four for operations, with negotiations for a Hotels Encouragement Act agreement with NCL also to be commenced.
ADVERTISE TODAY! CALL THE TRIBUNE TODAY @ 502-2394
PAGE 20, Wednesday, July 27, 2022
THE TRIBUNE
‘NO NEED TO FEAR’ OVER SCOTIABANK-NUA DEAL FROM PAGE A24
They also questioned why Scotiabank has decided to partner with a so-called ‘tied’ agent such as NUA, which writes insurance business for only Bahamas First, rather than an independent broker able to offer premium prices and products from several carriers. The latter arrangement, they argued, would deliver more benefits for the bank’s mortgage and auto insurance borrowers since they would have access to greater choice and prices kept keen by competition. The same brokers and agents also asserted that the Insurance Commission’s long-established position has been to keep insurance and banking activities separate, and that it has refused to issue any more agent/ broker licences to bank affiliates as a result. They yesterday called on the regulator to take a fresh look at NUA and Scotiabank’s ‘strategic business referral partnership’. Mr Ward, responding to the anti-competitive concerns raised, told Tribune Business: “We are confident that these issues do not exist. I can tell you that the issues around the way in which the programme is structured, in terms of whether or not it complies
with existing regulations, have been thoroughly reviewed. “The regulator was involved in that process and, in accordance with their views on the matter, we feel confident that the structure we have in place does not violate any existing regulations or laws.” While the presence of NUA staff in Scotiabank’s Nassau main, Cable Beach, Thompson Boulevard and Grand Bahama branches will undoubtedly give the agency first go at selling insurance to the latter’s loan clients, Mr Ward reiterated there is no obligation for them to buy. “I can tell you specifically that the Commission ensured there was not going to be any undue coercion associated with any transaction in this agreement,” he told this newspaper, indicating he had anticipated the concerns. “The market doesn’t need to fear there’ll be unfair competition involved in this process.” As for concerns that the separation of banking and insurance activities are becoming blurred, Mr Ward replied: “I think the thing to bear in mind is the employees of NUA will be physically present in the branches where the programme is rolled out, so all insurance activity and
transactions will be carried out by employees of NUA.” One insurance broker said the NUA agreement recalled previous controversy involving Scotiabank’s tie-up with a Caribbean regional underwriter, Island Heritage, which was facilitated via BISX-listed broker, J S Johnson. Island Heritageprovidedagroupproduct, on to which Scotiabank placed mortgage clients who failed to prove their homeowners coverage had been renewed by the due date - a move that triggered concerns and complaints from industry rivals. “The previous arrangement between Scotiabank and J S Johnson was heavily criticised by the rest of the insurance industry - including NUA and their parent Bahamas First - as being anti-competitive, contrary to public policy and a clumsy and convoluted way for a bank to circumvent the regulators’ firm stance that banking and insurance be kept completely apart, with no more insurance intermediary licences to be given to banks or their subsidiaries,” the broker added. “It seems, therefore, to be extremely hypocritical of NUA and Bahamas First to now be apparently doing the same thing.” However, Mr Ward argued that comparisons between the
separate NUA and Island Heritage deals were simply inappropriate and he denied that the former is paying Scotiabank a fee or commission as part of their agreement. “The structure of that agreement was very different to the one we have in place now,” he said of the Island Heritage arrangement. “We’re strictly following the current guidelines and rules as to what we are allowed to do under the regulations. “We took a very long time looking at this very closely, and worked very closely with the regulator to ensure whatever arrangement was put in place was consistent with the law and, as a consequence of that, we are very confident this complies with all current regulations. This has been in development for well over a year.” Mr Ward also denied that Bahamas First was favouring NUA. Referring to an agreement that the underwriter has in place with another commercial bank, which he did not name, the Bahamas First chief said “the facts show we have always been true to treating our agents and brokers in a fair and transparent manner” - implying that the Scotiabank deal will be no different.
Other brokers, though, are not necessarily convinced. One told Tribune Business: “One has to ask, bearing in mind that NUA place all their motor and property business through their parent Bahamas First, what possible benefit this arrangement would have for Scotiabank’s customers. Surely if they had to do this sort of thing they should have chosen an independent insurance broker able to offer their clients the products and prices of several insurers.” They added that the NUA-Scotiabank move was also “a major slap in the face by Bahamas First for all of the other insurance brokers and agents that sell their products. Bahamas First has always at least maintained... that they do not favour their in-house brokers”. Mr Ward declined to reveal how much additional business NUA and Bahamas First expect to generate from the Scotiabank partnership. However, he indicated that there were wider benefits beyond just NUA expanding its distribution channels. “The other benefit the client has is they can actually get premium financing through the bank for premiums that can be paid over a period of time, whatever is
agreed between the bank and the client,” Mr Ward explained. “That helps in an environment where people are reliant on some kind of financing to pay their premium.” Then there was the convenience of being able to conduct borrowing and insurance business in one place, saving both time and money. “It creates an environment where transactions can take place on a fairly seamless basis. They benefit with time, the ease of the transaction and provision of premium financing. A lot of people will find it attractive.” Anton Saunders, managing director of RoyalStar Assurance, a direct Bahamas First competitor as a property and casualty underwriter, said of the NUA-Scotiabank tie-up: “Competition wise, I am not concerned. We just have to dig harder and get relationships for our agents with other people... “If NUA has an initiative in place with Scotiabank, as long as everything is above board with the insurance regulations, they have the right to seek partnerships with whoever they want. I wouldn’t want someone to come to me if I had a legitimate partnership and say I cannot do it.”
OPPOSITION IN ‘VAT-FREE HOLIDAY’ FATE CHALLENGE FROM PAGE A24 newspaper. “The FNM also implemented a VAT holiday for hurricane season. This is a very important holiday for persons shopping for back-to-school. “It’s important for those persons whose businesses are back-to-school. It was an important incentive to purchase locally as well. We are very, very concerned that we have not heard anything from the Government with respect to the VAT ‘holiday’.”
Mr Thompson said the two previous back-to-school ‘VAT holidays’ “generated millions of dollars in aggregate savings to thousands of Bahamian households since inception”, although he did not quantify this and this newspaper has seen no previous economic impact assessment on the initiative’s benefits. “We call on the Government to provide the public immediately with the timelines for these critical initiatives, which are even
CALL 502-2394 TO ADVERTISE TODAY!
more important now given the impact of recent significant price inflation,” he added. “We demand that the Government advise Bahamians when they can expect to see the VAT-free ‘holidays’.” Meanwhile, Hubert Edwards, principal with Next Level Solutions, a Bahamas-based risk management consultancy, warned that the International Monetary Fund’s (IMF) decision to slash its 2022 global economic growth forecast by a further 40 basis points to 3.2 percent “brings us closer to the possibility” of a worldwide economic recession. He argued that the “two most significant drivers” that The Bahamas must watch are China’s “underperformance” impacting
the global supply chain as well as continued higher energy and food prices as a result of Russia’s continuing invasion of Ukraine. Mr Edwards said continued interest rate increases on developed countries, as they seek to combat inflation, could raise The Bahamas’ own foreign currency debt servicing costs as well as undermine this nation’s post-COVID recovery and fiscal consolidation. Bahamian consumers, too, will face reduced purchasing power, rising living costs and reduced living standards. “Lower growth earlier this year, reduced household purchasing power and tighter monetary policy drove a downward revision of 1.4 percentage points in the US. In China, further lockdowns and the deepening real estate crisis have led growth to be revised down by 1.1 percentage points, with major global spillovers,” the IMF said
KWASI THOMPSON of its trimmed growth forecasts. “And in Europe, significant downgrades reflect spillovers from the war in Ukraine and tighter monetary policy. Global inflation has been revised up due to food and energy prices as well as lingering supplydemand imbalances, and it is anticipated to reach 6.6
percent in advanced economies and 9.5 percent in emerging market and developing economies this year - upward revisions of 0.9 and 0.8 percentage points, respectively. In 2023, disinflationary monetary policy is expected to bite, with global output growing by just 2.9 percent.”
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 21
TOP OFFICIAL RULES OUT ‘DEBT RESTRUCTURING’ FROM PAGE A24
market-driven with respect to the management of debt.” His latter comments sought to reassure the international capital markets, as well as Bahamian and foreign investors and debt holders, that there will be no sudden shocks when it comes to the Government’s fiscal and financial management. Tribune Business reported that Rothschild & Co’s hiring could ultimately lead to a major “refinancing” of the Government’s debt, but this is different from a “restructuring” which Mr Wilson ruled out. For example, rather than issue new sovereign debt, the Government could seek to consolidate existing bond issues via a collective multi-billion refinancing that would help establish “a benchmark yield” for all Bahamas issues traded on the international capital markets. Meanwhile, more sources confirmed that Rothschild & Co is indeed the debt advisory firm selected by The Bahamas as the Government’s political opponents demanded full transparency and disclosure surrounding the firm’s hiring, the role it will play and responsibilities handled, as well as the Terms of Reference handed to it. Kwasi Thompson, the Free National Movement’s (FNM) finance spokesman, told Tribune Business this was critical to reviving investor confidence in The Bahamas and the Davis administration’s fiscal turnaround strategy given that the country’s outstanding bonds “continue to trade near historic lows”. The former minister of state for finance, who held the post during the Minnis administration’s last 11 months in office, argued that this signals the Government’s medium and short-term fiscal strategy has failed to inspire optimism in the international
capital markets that The Bahamas’ post-COVID rebound is robust enough to cure the country’s economic and financial ills. “It speaks for itself,” Mr Thompson said of the heavy discounts/high yields that investors are demanding on The Bahamas’ sovereign debt. Data from the Frankfurt stock exchange shows that the $825m bond, placed at the height of the COVID19 pandemic in 2020 at an 8.95 percent interest rate, closed last night at over a 35 percent discount to face value. And the yield on the same issue, which will mature for repayment in 2032, is also just shy of 17 percent. Meanwhile, the $650m bond placed in 2018 at 6.95 percent, and which represented the last major foreign currency issue before the COVID-19 pandemic, was still trading at a near 33 percent discount and yield of almost 15 percent. “The bond series have been on a consistent and unrelenting downward trend over the last ten months,” Mr Thompson said. “None of the announced fiscal plans and strategies of the Davis administration has returned any confidence to the international investor community. This is why we maintain that it is important that the Government provide absolute clarity on who it has engaged in respect to the critical issue of debt management, and for what purpose.” Turning to Tribune Business’ revelation regarding
Rothschild & Co, Mr Thompson said: “They should be transparent, come out and confirm it, and tell us what are the Terms of Reference and what all the facts are.” He argued that it was critical this occur “given all the possible implications for the country’s credit risk profile”. “The lack of transparency and clarity on the matter may send an entirely wrong signal to the market,” the Opposition’s finance spokesman added, pointing to what he labelled as the absence “of a consistent story to provide confidence for international investors”. In particular, Mr Thompson pointed to the “mixed signals” sent by the Government’s Fiscal Strategy Report, published at end-January and which articulated one set of fiscal targets and numbers, and the now-active 2022-2023 Budget which laid out figures that were much different just four months later. “What has been stated as your fiscal strategy in terms of containing debt, containing expenditure, ensuring you manage the state-owned enterprises (SOEs), all those things have been articulated, and you’re putting forward a transparent tax policy. All those things were articulated in the Fiscal Strategy Report, but when you produce a Budget that is inconsistent with the Fiscal Strategy Report that unfortunately sends the wrong
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, JASON RICHEMOND of P. O. Box FH-14406, Springfield Road off Fox Hill Road, New Providence, Bahamas, intend to change my name to JASON RICHMOND. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.
message to international investors,” he added. “The Government must clearly articulate its medium-term fiscal and tax policy plans that provide definitive proposals on how it intends to raise additional revenues and contain public expenditure. The Government cannot continue to do one thing in its Fiscal Strategy Report and yet do something else completely different during the Budget exercise. As we have pointed out, doing so is a clear breach of the law as per the Fiscal Responsibility Act.” That, though, was disputed by the Prime Minister during the Budget debate. And both Senator Michael Halkitis, minister of economic affairs, and Mr Wilson have justified the revised Budget numbers as compared to those in the Fiscal Strategy Report on the basis that the economy is rebounding much faster than anticipated from the effects of COVID-19 now it has reopened further. Among the so-called “inconsistencies” identified by Mr Thompson are a projected $149m overshoot on the 2022-2023 fiscal deficit, which was pegged at $415.2m in the Fiscal Strategy Report but increased subsequently to $564m in the Budget. Recurrent or fixed-cost spending, which goes on the likes of civil service
salaries, wages, emoluments and rent, was forecast at end-January 2022 to be $2.698bn in 2022-2023, but that was revised upwards by $300m to $2.997bn. Rather than reduce the public service wage bill to $568m, as shown in the Fiscal Strategy Report, the 2022-2023 Budget expanded this by $56m compared to the outlay for the 2021-2022 fiscal year. And the Government has also temporarily shelved plans to slash subsidies to state-owned enterprises (SOEs), which are set to increase by almost $31m year-over-year this fiscal year. Mr Thompson, meanwhile, accused the Government of “not living as though we are faced with a fiscal crisis. They continue to do the same things that
are inconsistent with having an uncertain economic and fiscal environment. They continue to travel as if nothing is wrong, they continue to hire and they continue to spend, and one of the things we have said time and time again is you must treat this matter with the seriousness it deserves, which means fiscal restraint”. He told Tribune Business: “The message we would like the Government to hear is you must have a consistent plan for fiscal responsibility, which we have not seen so far. You must also, and we are imploring them, to go back to their Fiscal Strategy Report and abide by what they committed to do in it. Unfortunately they are saying a lot of things, but what they do is different from what they are saying.”
NOTICE
NOTICE is hereby given that AKEEM AKANDE SANUSI of P. O. Box CB-13814, #14 Season Street, Canterbury Subdivision, Prince Charles, 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 27th day of July, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
PAGE 22, Wednesday, July 27, 2022
THE TRIBUNE
CHAMBER CHIEF URGES MORE LUCAYAN SALE TRANSPARENCY By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Grand Bahama Chamber of Commerce’s president yesterday urged the Government to be more forthcoming with the status of the $100m Grand Lucayan sale to Electra America Hospitality Group. James Carey told Tribune Business he was unaware that the initial 60-day due diligence period, the first step towards selling the property, had been extended for a further 15 days to this week as he called for more transparency on the progress of negotiations. “We would like to know what’s happening with the deal. This is not good, because basically there are a number of things in Grand Bahama that have stalled. They have talked for years about a new hospital and there is no new hospital,” he added. “In more recent times they talked about an airport, and equally we don’t know what’s happening in that
regard and, of course, with the Grand Lucayan. I can’t say that the deal has blown up because I don’t know.” There have been no indications that talks with Electra America have run into difficulties, although much remains to be done to close the transaction, including signing a sales agreement; concluding a Heads of Agreement with the Government; and completing underlying agreements such as that governed by the Hotels Encouragement Act which details the tax breaks/ investment incentives that the investor will get. The Grand Lucayan property was acquired by the former Minnis administration, which paid Hutchison Whampoa’s real estate arm $65m in September 2018. The objective was to secure a rapid exit by finding a private sector buyer, and the then-government thought this goal had been achieved when it signed a sales agreement with the ITM Group/ Royal Caribbean Cruise Lines consortium in March 2020. However, COVID intervened, and the incoming
to a non-disclosure agreement with the landlord, but added that Pinnacle was
“eyeing” another site in the island’s east. Pinnacle is headed by former Galleria and Outback Steakhouse chief, Chris Mortimer.
It’s crazy behind the scenes working on these things but we’re all trying to make our country better.” As for timely issuer disclosures, he told Tribune Business: “They’re super important. The reason being, as you know, investors when they have timely information can make decisions whether to buy, sell or hold. It brings more transparency, trust and confidence in the market. “We really want to build this thing so successfully so we get as many companies get funded, and as many investors see returns, as possible. These things are built in stages. The first stage is get the initial public offerings (IPOs) up and running, then the secondary market and then the third
stage is disclosure. Then you’ve made a market. “When the first company pays a dividend, and people get their money back through share appreciation and dividends, this market is made. It’s just a matter of time before someone hits it big, pays their investors back and then everything will be in place for longterm, sustainable growth. It will be a nice, dynamic market where people can raise money and make investments.” Mr Rahming said ArawakX also has plans to “launch additional products”, although he declined to identify them other than to say “it’s not just crowdfunding equity” and will involve other forms of investment securities.
GRAND LUCAYAN Davis administration agreed with its predecessor’s Grand Lucayan Board that the terms of the ITM/ Royal Caribbean deal had been watered down to such an extent that there were insufficient benefits to The Bahamas and its people to allow the deal to proceed. Both sides agreed to mutually part ways, and the Government initiated a new sales process that identified Electra America as the preferred bidder. Mr Carey said yesterday: “It’s not looking particularly promising at
the moment, and we work on the basis that people like to brag and talk about positive things that are happening, but we’re always reluctant to talk about the negative side, so one can presume that the sale is not going as planned, and that’s where we’re at right now.” The Grand Lucayan resort will require “substantial investment”, with Electra America having pledged to invest some $200m in its upgrade, and its redevelopment will be inextricably linked with the rebuilding of Grand
CROWDFUND PLATFORM TO ADD SECONDARY TRADING FROM PAGE A24
Bahama International Airport (GBIA). “I understand that the purchasers of the hotel are looking for some definitive timelines on the airport itself, because a hotel of that magnitude needs the airlift and the right promotion for the hotel to be filled and understandably so,” Mr Carey said. “They all go hand in hand. We just can’t see the light at the end of the tunnel right now, but it’s in the power of the authorities to make it happen. “The airport is important for the island, period, and it
is not just for tourism with the hotels, but you also have a preponderance of Airbnbs who are depending on the airport being open to bring people in. So the airport is very critical and, of course, residents love to travel as well, so the airport is a critical component and no city that is worth it’s salt can survive without an airport.” Chester Cooper, deputy prime minister, said during his Budget presentation said three “credible” investors had expressed interest in redeveloping Grand Bahama International Airport via a public-private partnership (PPP) although he did not name them. “I am pleased to advise that as a result of the RFP (Request for Proposal) process, we have three credible suitors for the redevelopment of a world-class Grand Bahama International Airport. They’re credible with a track record and their own money so we expect construction to be completed by January 2025,” he added.
Mr Rahming, meanwhile, said in response to the disclosure concerns that “everything is new for everybody, so people are trying
to figure it out”. While many expect a crowdfunding platform and market to be put together almost overnight, he added that it takes time to get it right. “It takes time to build,” the ArawakX technology chief said. “People like to think it can be done immediately, but they take time to build. First you have to build the companies, then build the investor base, then build the disclosure portal. We want to build one of those and have some creative ideas on how to improve on that. “People think these things are a lot easier than they are. These are really complicated things to do.
THE TRIBUNE
Wednesday, July 27, 2022, PAGE 23
MINISTER PLEDGES ‘POLLUTER WILL PAY’ OVER EXUMA SPILL By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net
A CABINET minister yesterday pledged that “the polluter will pay”, with the Government “holding their breath” that last week’s Exuma oil spill does no longlasting harm to the area’s marine life. Vaughn Miller, minister for the environment and natural resources, speaking prior to the weekly Cabinet meeting said the Government will “pursue every avenue” to ensure the party responsible for spilling 30,000 gallons of diesel fuel
in waters off Georgetown covers the entire clean-up costs. He based his assertion on “the guidelines and principles” established for such pollution-related incidents. “Every avenue we will pursue this, and we intend to pursue this,” Mr Miller added. However, it has yet to be established whether the ship owner; BISX-listed FOCOL Holdings; Bahamas Power & Light (BPL) or some combination of all three are ultimately liable for the spill, and if it may be covered by insurance. Mr Miller, meanwhile, said it was “easy” to contain the diesel fuel because of where
the night to suck up most of the spill. Mr Miller added: “We’re grateful for that. We’ve not completed, but up to this point we’re thankful also that there wasn’t any inclement weather, and so everything co-operated and it worked well for us.” The oil spill was caused by a ruptured hose that was transferring diesel fuel from the MT Arabian, a vessel owned by D&T Shipping, which had been contracted by FOCOL Holdings’ Sun Oil subsidiary to make the delivery to Bahamas Power & Light (BPL). Mr Miller said some 95 percent of the oil spill has been remediated, and added: “We’ve collected all
VAUGHN MILLER it happened at the Old Navy Base cove. Because of the location, and the spill’s containment in one cove, clean-up crews were able to move “aggressively” by working through
of the sand on shore and, of course, we’re processing it and we’ll be able to give an update on it once we are ready to give our findings.” The environmental impact for animals and wildlife was “minimal” to-date, and more Ministry of the Environment officials will be in Exuma today to carry out fresh assessments. “We’re waiting in terms of the animals, whatever that’s in the sand, to get a report on that,” Mr Miller added. “But the marine life at present, our officers who were there last week said it was minimal, but we’re holding our breath on it and hoping that once they return to do another assessment
THE WEATHER REPORT
5-Day Forecast
TODAY
ORLANDO
High: 94° F/34° C Low: 75° F/24° C
TAMPA
FRIDAY
SATURDAY
SUNDAY
Partly sunny and breezy
Mainly clear
A t‑storm around in the afternoon
Breezy with more clouds than sun
Sunny, breezy and pleasant
A t‑storm in spots in the afternoon
High: 90°
Low: 79°
High: 88° Low: 78°
High: 87° Low: 79°
High: 88° Low: 78°
High: 89° Low: 80°
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
98° F
86° F
97°-83° F
97°-85° F
97°-84° F
99°-88° 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.
almanac
E
W
ABACO
S
N
High: 90° F/32° C Low: 79° F/26° C
8‑16 knots
S
High: 92° F/33° C Low: 80° F/27° C
7‑14 knots
FT. LAUDERDALE
FREEPORT
High: 91° F/33° C Low: 81° F/27° C
E S
E
W
WEST PALM BEACH
W
uV inDex toDay
THURSDAY
N
N
| Go to AccuWeather.com
TONIGHT
High: 93° F/34° C Low: 81° F/27° C
High: 91° F/33° C Low: 79° F/26° C
MIAMI
High: 91° F/33° C Low: 80° F/27° C
8‑16 knots
KEY WEST
High: 89° F/32° C Low: 83° F/28° C
ELEUTHERA
NASSAU
High: 90° F/32° C Low: 79° F/26° C
Forecasts and graphics provided by AccuWeather, Inc. ©2022
N
The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.
tiDes For nassau High
Ht.(ft.)
Low
Ht.(ft.)
2.3 3.1
2:00 a.m. 1:43 p.m.
0.7 0.4
8:23 a.m. 8:48 p.m.
2.4 3.2
2:39 a.m. 2:24 p.m.
0.6 0.4
Friday
9:03 a.m. 9:24 p.m.
2.5 3.2
3:16 a.m. 3:03 p.m.
0.6 0.4
Saturday
9:41 a.m. 10:00 p.m.
2.6 3.2
3:52 a.m. 3:42 p.m.
0.5 0.5
Sunday
10:20 a.m. 10:36 p.m.
2.7 3.1
4:27 a.m. 4:22 p.m.
0.5 0.6
Monday
10:59 a.m. 11:13 p.m.
2.7 3.0
5:01 a.m. 5:03 p.m.
0.5 0.7
Tuesday
11:41 a.m. 11:52 p.m.
2.8 2.9
5:37 a.m. 5:48 p.m.
0.5 0.8
Today
7:43 a.m. 8:10 p.m.
Thursday
sun anD moon Sunrise Sunset
6:35 a.m. Moonrise 7:58 p.m. Moonset
5:24 a.m. 7:36 p.m.
New
First
Full
Last
Jul. 28
Aug. 5
Aug. 11
Aug. 19
CAT ISLAND
E
W
High: 89° F/32° C Low: 77° F/25° C
N
S
E
W
8‑16 knots
S
8‑16 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 .................................................... 75° F/24° C Normal high ....................................... 88° F/31° C Normal low ........................................ 75° F/24° C Last year’s high ................................. 91° F/33° C Last year’s low ................................... 73° F/23° C Precipitation As of 2 p.m. yesterday ................................. 0.24” Year to date ............................................... 37.34” Normal year to date ................................... 18.87”
High: 90° F/32° C Low: 78° F/26° C
that it would remain consistent with that. The beach will be closed presently until August 10, and then we’ll reevaluate to see if we should extend it or whether we can open it at that time.” Oil spills such as last week’s may occur again due to the frequency with which fossil fuels are shipped across The Bahamas, especially to the Family Islands. Mr Miller said BPL has committed to do a “reassessment, and certainly we will also do an assessment, and then we’ll submit our recommendations, but we’re concerned about it; very concerned”.
ANDROS
SAN SALVADOR
GREAT EXUMA
High: 88° F/31° C Low: 77° F/25° C
High: 87° F/31° C Low: 80° F/27° C
N
High: 89° F/32° C Low: 78° F/26° C
E
W S
LONG ISLAND
tracking map
High: 88° F/31° C Low: 77° F/25° C
8‑16 knots
MAYAGUANA High: 88° F/31° C Low: 79° F/26° C
Shown is today’s weather. Temperatures
CROOKED ISLAND / ACKLINS
are today’s highs and tonight’s lows.
RAGGED ISLAND High: 88° F/31° C Low: 78° F/26° C
H
High: 88° F/31° C Low: 77° F/25° C
GREAT INAGUA High: 88° F/31° C Low: 78° F/26° C
N
E
W
E
W
N
S
S
10‑20 knots
12‑25 knots
marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR
Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:
WINDS SE at 7‑14 Knots E at 7‑14 Knots SE at 8‑16 Knots E at 8‑16 Knots E at 8‑16 Knots ENE at 10‑20 Knots ENE at 10‑20 Knots ENE at 10‑20 Knots E at 8‑16 Knots E at 8‑16 Knots SE at 7‑14 Knots E at 6‑12 Knots E at 8‑16 Knots ENE at 10‑20 Knots NE at 12‑25 Knots ENE at 12‑25 Knots ENE at 10‑20 Knots E at 10‑20 Knots ENE at 10‑20 Knots E at 10‑20 Knots ESE at 8‑16 Knots ENE at 8‑16 Knots NE at 10‑20 Knots E at 10‑20 Knots E at 8‑16 Knots E at 8‑16 Knots
WAVES 3‑6 Feet 3‑5 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 3‑6 Feet 3‑5 Feet 3‑5 Feet 3‑5 Feet 3‑5 Feet 1‑2 Feet 1‑2 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 2‑4 Feet 3‑5 Feet 3‑5 Feet 4‑7 Feet 4‑7 Feet 1‑3 Feet 1‑3 Feet 3‑5 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet
VISIBILITY 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 8 Miles 10 Miles 8 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 8 Miles 7 Miles 10 Miles 10 Miles 8 Miles 10 Miles 8 Miles 10 Miles 7 Miles
WATER TEMPS. 85° F 85° F 86° F 86° F 84° F 84° F 84° F 84° F 84° F 85° F 86° F 87° F 85° F 85° F 84° F 84° F 84° F 84° F 84° F 84° F 85° F 85° F 84° F 84° F 84° F 84° F
business@tribunemedia.net
WEDNESDAY, JULY 27, 2022
$6.92
$6.97
$6.96
$7.27
‘No need to fear’ over Scotiabank-NUA deal By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS First’s top executive yesterday dismissed concerns over its wholly-owned agency’s tie-up with Scotiabank, saying: “The market doesn’t need to fear there’ll be unfair competition.” Patrick Ward, the BISX-listed underwriter’s group president and chief executive, told Tribune Business the partnership involving its NUA Insurance Agents & Brokers subsidiary and the bank had been “thoroughly vetted” to ensure it complies with all the industry’s governing laws and regulations. He added that the sector’s regulator, the Insurance Commission,
• Bahamas First chief dismisses anti-competitive concern • Deal complies with all laws and vetted by Commission • Yet other brokers/agents brand it ‘big slap in the face’ had also reviewed the agreement prior to last week’s announcement and found nothing amiss with NUA staff being based in Scotiabank branches to offer homeowners and auto insurance policies underwritten by Bahamas First to the bank’s borrowers.
Mr Ward sought to further allay concerns that the arrangement is anti-competitive by pledging that “there’s not going to be any undue coercion” where Scotiabank customers are forced, or mandated, to insure with Bahamas First via NUA, implying that consumer choice remains
alive over which underwriter and broker/agent they can use. But several insurance brokers and agents, speaking on condition of anonymity because they do business with Bahamas First, told this newspaper that the NUAScotiabank tie-up represents “a major slap in the face”. This, they explained, is because it runs contrary to long-standing Bahamas First pledges that it treats all its brokers and agents equally, and will not favour NUA simply because it owns 100 percent of the latter.
SEE PAGE A20
AERIAL shot of Northern shoreline showing proposed cruise ship piers.
Cruise island expansion to drive 149% visitor rise By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net VISITORS to a cruise line’s Bahamian private island are forecast to increase by more than 427,000 per year once two piers are constructed to allow its vessels to properly dock, it has been revealed.
The revised Environmental Impact Assessment (EIA) for Norwegian Cruise Line’s (NCL) proposed harbour expansion at Great Stirrup Cay, which has been seen by Tribune Business, predicts the destination will receive 714,000 passengers per annum when “pre-COVID 19 sailing trends” return with that number growing
Opposition in ‘VAT-free holiday’ fate challenge By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Opposition’s finance spokesman yesterday voiced concern that Bahamian merchants and families could miss out on a significant inflation offset if no Back-to-School ‘VAT-free holiday’ is held this year. Kwasi Thompson told Tribune Business the former Minnis administration saw this as “an important incentive” to encourage Bahamians to purchase school supplies, books and clothing locally, thereby keeping money circulating in the country’s economy and boosting revenues for businesses. The Davis administration, though, has been silent on whether this so-called ‘VAT holiday’ - which removed the then-12 percent levy via the introduction of ‘zero rated’ treatment on school supplies for a limited time period - will be reintroduced this year. It did not reinstate the ‘hurricane supplies’ VAT relief brought in for the first time last year, and time is fast running out to do so with the back-to-school variety. “We have not heard anything from the Government with respect to the back-to-school VAT holiday,” Mr Thompson, the east Grand Bahama MP, told this
SEE PAGE A20
by 10-15 percent annually moving forward. Explaining the rationale for the piers, the document reveals that the inability for NCL’s cruise ships to dock at the Berry Islands location has forced it to transport visitors to shore using smaller ferries. During rough weather, though, passengers cannot be transferred between the
cruise ships and the ferries, which is said to have resulted in “missed calls” and loss of income for both NCL and shore-based Bahamian visitors. The EIA said a study had shown that three-foot high waves could result in almost 31 percent - nearly one-third - of cruise ship
SEE PAGE A19
Crowdfund platform to add secondary trading By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN crowdfunding platform yesterday said it plans to launch secondary market trading and improve issuer disclosure through the launch of additional features over the next nine months. D’Arcy Rahming Jnr, ArawakX’s chief technology officer, told Tribune Business it plans by year-end to launch “a portal” where investors can obtain timely information on companies that have hit their crowdfunding targets. This will be followed by the unveiling of another electronic window that will allow market participants to trade shares in these companies via the secondary market. Describing market transparency, and the timely, accurate disclosure of material information by issuers, as “super important”, he said: “I can tell you that in terms of disclosures about the companies, ArawakX is about to launch in the fourth quarter a portal where you will be able to see information about corporate activities. We’re also going to be launching our secondary market, hopefully by the fourth quarter but certainly by the first quarter of next year.” Mr Rahming spoke out as questions were being raised over the progress made by Pinnacle Franchise Brands, the first entity to hit its crowdfund target via ArawakX
PATRICK WARD
D’ARCY RAHMING JNR with a just over $2m raise that closed in January 2022. Little had been heard subsequently from the company, which has the Red Lobster franchise rights to the Caribbean, until its just-released semi-annual progress report. James Owen, Pinnacle’s chief financial officer, informed the 1,829 investors that supply chain and procurement issues had forced the company to push back plans for the first Red Lobster location’s opening from this year to the 2023 first quarter. He added that the lease for that restaurant was signed just over two months ago for an undisclosed site in western New Providence, which is now “readying” for construction and fit-out. Mr Owen said the precise location for that restaurant cannot be disclosed due to a
SEE PAGE A22
Top official rules out ‘debt restructuring’ • Financial Secretary: All actions will be ‘market driven’ • Confirms debt adviser hired but declines to give name • Opposition warns bonds still trading ‘near historic lows’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE MINISTRY of Finance’s top official yesterday reiterated that the Government has “no plans for any restructuring” of the $11.8bn national debt as he confirmed the hiring of an advisory firm to aid fiscal management. Simon Wilson, the financial secretary, told Tribune Business it was “no secret” that the Davis administration was seeking to engage an “expert debt advisor” whose selection has been endorsed by the debt advisory committee comprised of private sector executives. He declined to confirm this newspaper’s exclusive revelation that Rothschild & Co, the global financial group with some 3,800 employees spread across 40 countries, has been chosen for the role citing the need to wait for “a formal announcement” that will be made shortly by the Government.
SIMON WILSON “I think there’s no secret we were going to seek the assistance of expert debt advisers,” Mr Wilson told this newspaper. “The private sector debt advisory committee has endorsed the engagement of an advisor. In time we will make a formal announcement with regard to who that advisor is, and their strategy in terms of providing assistance. “We are not considering any debt restructuring or any other action that is not
SEE PAGE A21