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WEDNESDAY, JULY 28, 2021

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Governor: Public finance rebuild ‘ambition’ critical

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HE Central Bank’s governor yesterday said the government’s “fiscal consolidation ambition” is critical to protecting the external reserves and currency peg, as well as enabling the country to meet its debt payments. John Rolle told Tribune Business that huge borrowings to cover near$1bn annual deficits were simply unsustainable given that The Bahamas will eventually “hit a point” where servicing its $10bn-plus national debt will become a challenge. Warning that The Bahamas has to “make certain we

• Warns rapid fiscal consolidation return is ‘must’ • Even as external reserves strike $2.6bn record • But ‘usable non-borrowed’ reserves just $369m

JOHN ROLLE repair our finances beyond the pandemic”, he nevertheless said the country’s foreign currency reserves - which are critical to financing imports and sustaining

the one:one peg with the US dollar - remain higher than expected at some $2.6bn as of last week. That number, though, has been inflated by the government’s massive foreign currency borrowings last year at COVID-19’s height, with another $900m-plus including a $700m sovereign bond - already approved for this 2021-2022 fiscal year. And Mr Rolle said the Central Bank expected a further drawdown on the reserves over the remainder of 2021 due to Hurricane Dorian rebuilding.

Meanwhile Marla Dukharan, the former Royal Bank of Canada (RBC) chief regional economist, in her monthly economic report that was released yesterday described continued Bahamian government foreign currency borrowing to prop up the external reserves as “unsustainable”. She also noted that The Bahamas’ foreign currency debt had risen by 57.4 percent year-over-year to $4.16bn as at May 2021.

SEE PAGE 6

Liquidator blasts own creditors committee By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN broker/ dealer’s liquidator has resumed battle with his own creditors committee by blasting their criticism of his $1m-plus fees as “significantly lacking in substance, truth and accuracy”. Ed Rahming, the Intelisys (Bahamas) founder and managing director, who is due to step down as Pacifico Global Advisors’ liquidator at week’s end due to ill-health, slammed the three-man liquidation committee for opposing almost every action has has taken to wind-up the insolvent firm under the Supreme Court’s supervision. He launched the blistering attack on Luca Lanciano, Pacifico Global’s ex-chief operating

• Slams criticism as ‘lacking truth and accuracy’ • Opposed broker/dealer wind-up at every turn • Yet judge backed committee fears as ‘valid’

ED RAHMING officer; Alexander Maillis, an attorney with Maillis and Maillis, representing Pacifico Global’s landlord, Mosko; and Garciar Whyms, managing partner of Capital Corporate Services, in a July 21, 2021, affidavit that sought to rebut their concerns over

Govt defending ‘sole source’ Customs app By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A TOP Ministry of Finance official yesterday defended the decision to accept a “sole source” bid for the app that now allows persons to file their Customs declarations electronically prior to arrival in The Bahamas. Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribune Business that the selection of Caves Villagebased Exempt Technologies Ltd as the app developer/

MARLON JOHNSON provider was consistent with both existing procurement practices as well as the new Public Procurement Act due to take effect from September 1. He added that the choice

SEE PAGE 7

Unions fearing ‘chilling effect’ if orders extend By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

TRADE union leaders yesterday warned that any extension of the COVID-19 Emergency Orders will have “a chilling effect” on the Bahamian workforce with 60 percent of hotel union members still furloughed. Obie Ferguson, the Trades Union Congress (TUC) president, told Tribune Business that he was especially concerned for furloughed workers given that allowing the emergency orders to remain in place beyond their August

OBIE FERGUSON 13 expiry will automatically also extend their temporary lay-off period. With the Employment Act provision requiring companies to provide full severance pay to furloughed workers after 90 days thus

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the compensation he and his attorneys, Callenders & Company, are seeking. Responding to an “unfiled” affidavit sworn by Sheila Cuffy on the liquidation committee’s behalf, Mr Rahming alleged that the trio’s objections to his fees claim and that of Callender’s stemmed from failing to follow their demands that all Pacifico Global’s clients should have had their assets returned to them “immediately upon appointment” as the broker/dealer’s liquidator. Asserting that this was not his role under Bahamian law, especially the Companies (Winding Up

Amendment) Act 2011 and Insolvency Practitioners Rules 2012, Mr Rahming said the job “involves more than simply transferring assets to persons who request them or transferring the proprietary assets to creditors”. Pointing out that a liquidator is required to perform multiple tasks, including asset recovery, determining the cause of the company’s failure and assessing the conduct of directors/key management, he added: “A liquidator is statutorily mandated to use his discretion in undertaking his

SEE PAGE 6

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CAREY LEONARD

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BEN ALBURY

Attorney: Amend laws for mandatory vaccine By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN attorney yesterday urged the government to reform health and safety at work laws to allow employers to mandate that staff get vaccinated against COVID-19. Carey Leonard, the former Grand Bahama Port Authority (GBPA) in-house counsel, told Tribune Business that increased vaccination rates were the only way “to get a grip” on resurgent pandemic case numbers that pose a particular threat to The Bahamas because of its service-based economy. While arguing against the government extending its Emergency Powers Orders beyond the current August 13 expiry in a bid to get a handle on soaring COVID infections, he added that vaccination-related court rulings in the US had established a precedent where the public interest in having all persons inoculated outweighed individual freedoms and choice. While The Bahamas is not bound to follow US law, and has a completely different legal system, Mr Leonard argued that the government should seek to change the Health and Safety at Work Act to give employers the ability to mandate that staff become vaccinated against COVID-19. Such suggestions will likely provoke a sharp push back from trade unions and workers, as well as other attorneys, but he explained:

“I think we’ve had enough of these emergency orders, but there may be some laws they need to amend to provide for certain things. “They may need to amend the law as it relates to Health and Safety at Work to give businesses the right to insist on vaccinations of their staff.... I don’t think it’s out of the realm of possibility to say for the safety and interest of the general public, in this particular instance it outweighs the individual’s rights. “If we don’t get a grip on this we’re going to be in trouble. If you look at the UK numbers, they’re skyrocketing again but they don’t have 1,000 people dying every day; they don’t even have 100 per day. They say the majority of people in hospitals and dying are all the non-vaccinated,” Mr Leonard continued. “I think perhaps we need to change the laws so that we get everything under control... We have very serious issues that we need to get under control, and the evidence is becoming clearer and clearer as most people in hospital are the non-vaccinated.” Mr Leonard argued that concerns being spread over COVID-19 vaccines are “not as drastic as people are making them out to be, and added: “I think they’ve blowing it out of all proportion.” He added that similar fears were raised decades ago over smallpox and polio vaccinations, yet pointed out that parents would not

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PAGE 2, Wednesday, July 28, 2021

A local realtor identifies cryptocurrency’s emerging application in real world transactions, and how it might gradually change the real estate market.

THE TRIBUNE

Bahamian real estate entering crypto space BY RYAN KNOWLES

EAL estate history was made a little over a month ago by Alex Sapir and Giovanni Fasciano, the developers of Arte, an ultra-luxury oceanfront development located in Miami Beach. The duo broke several records as they obtained the most expensive purchase price per square foot for a penthouse in Surfside, and the second highest in Miami since 2017. The $22.5m sale generated a lot of buzz across the Internet,

especially because it was all purchased using cryptocurrency. Cryptocurrencies, most notably Bitcoin and Ethereum, have been

around for more than a decade now and have slowly - but surely - won over sceptics who initially doubted their inherent value and application in the real world. Today, folks the world over are engaging with crypto. Early Bitcoin investors have become billionaires and “everyday Joes” have built up nice retirement funds playing the crypto market. And with more financial institutions and businesses adopting, accepting and even encouraging the use of cryptocurrency, these

professional and recreational investors have found safe and practical ways to turn their digital earnings into tangible assets. Since Bitcoin’s inception in 2009, a plethora of alternative digital currencies have found themselves disrupting the status quo in multi-million dollar industries. However, in order for cryptocurrencies such as Bitcoin to keep track of these virtual transactions, they work cleverly in tandem with blockchain technology. Blockchain is a type of database used to store cryptocurrency transaction history. Unbeknown to many, there are several companies who offer blockchain technology to facilitate cryptocurrency transactions in real estate right here in The Bahamas. In fact, these companies are so efficient they can process these digital transactions at a low fee and guarantee same-day exchange. Property developers on New Providence are now opening their eyes to the

potential of engaging in this new arena. Projects such as Aqualina, a boutique luxury condo building in Cable Beach with just 27 residences, and Goldwynn, a hotel-condo hybrid project on Goodman’s Bay with amenities such as a roof-top pool, spa and waterside restaurant, have recently announced they will facilitate cryptocurrency transactions for purchases in their developments. These moves are historic in nature as they will be among the first crypto real estate transactions to be completed anywhere in the Caribbean. On top of that, crypto and blockchain technology are also opening the door for fractional ownership. Picture it: Multiple investors pooling their money to acquire higher-end properties. Under normal circumstances, this would not usually be the case. But with crypto, this kind of transaction seems very likely. This level of innovation can actually help lower

entry barriers and make investing more affordable and convenient for all involved. All things considered, cryptocurrency and the blockchain network are smoothly working in tandem to make a hot market even hotter. Despite both being relatively new technologies, their realworld applications seem almost limitless, making crypto the primary catalyst for meaningful change in the real estate industry. By shortening transactions, giving buyers and sellers more range, and opening the door for fractional ownership, cryptocurrency has the potential to tighten loose ends and cut excess fat from the real estate process. All in all, this opens up a promisingly seamless, and gorgeous, technological facelift. NB: Ryan Knowles is a Bahamian realtor who is chief executive of the RK Team at Keys Bahamas Realty.

BAHAMAS STANDS OUT AT TOP AVIATION SHOW THE Bahamas has returned to an event branded as “the world’s greatest aviation celebration” in a bid to market the destination to private

pilots following last year’s COVID-induced absence. The Ministry of Tourism & Aviation, in a statement, said its promotional team is present at the 2021

Experimental Aircraft Association (EAA) AirVenture Oshkosh Show, which is being held from July 25 to August 1. The pandemic meant 2020’s

PICTURED centre is Reginald Saunders, the Ministry of Tourism and Aviation’s permanent secretary, flanked by members of his team. They are, from left: Deckery Johnson, Bahamas Tourist Office (Houston); Nuvolari Chotoosingh, Bahamas Tourist Office, Grand Bahama; Jonathan Lord, Bahamas Tourist Office, Plantation; Greg Rolle, senior director, Ministry of Tourism and Aviation’s verticals department; Aram Bethell, Bahamas Tourist Office, Plantation; and Nathan Butler, Bahamas Customs.

REGINALD SAUNDERS, the Ministry of Tourism and Aviation’s permanent secretary, listens to Flying to The Bahamas seminars, conducted by Bahamas Flying Ambassador, Mike Z. The daily seminars are for pilots who have committed to flying their planes or conducting fly outs to The Bahamas. version was cancelled. Described as the largest aviation show in the world, EAA AirVenture Oshkosh attracted more than 600,000 aviation enthusiasts, 10,000 aircraft and almost 1,000 media professionals prior to COVID-19. The Bahamas team, featuring of tourism, aviation and Customs officials, is being led by Reginald Saunders, the Ministry of Tourism’s permanent

secretary, and Ellison “Tommy” Thompson, its deputy director-general. They will meet one-onone with aviation industry partners to discuss business opportunities for The Bahamas. A top destination for general aviation and private pilot arrivals, The Bahamas is also the first nation to welcome private pilots operating under BasicMed, the Federal

Aviation Administration’s (FAA) new medical recertification programme. The Bahamas is one of only three countries (including the US and Canada) that are part of the International Federal Partnership (IFP) organisation. The latter has a bilateral agreement with EAA, and all three are located at Hanger D, which is the IFP Pavilion, for the show.

TEAM Cable Bahamas celebrates with Felicity Johnson, centre, on her retirement.

Cable Bahamas hails its retiring legal chief CABLE Bahamas yesterday paid tribute to its corporate secretary, who is due to retire this summer after playing a key role in the launch of its Aliv mobile subsidiary. Felicity Johnson, also its vice-president for legal affairs, joined Cable Bahamas in 2015 and was a leading player in the liberalisation process that led to the BISX-listed communications provider securing the second mobile licence in the Bahamas. She was responsible for guiding and leading the company’s legal team, overseeing all legal and regulatory matters

involving REV, Aliv, Cable Bahamas Business Solutions and OUR TV. Ross McDonald, Cable Bahamas’ chairman, said: “During my time as chairman I worked closely with Felicity and came to appreciate her many skills and talents. She is the consummate professional. She is modest and unassuming in her manner with a dry sense of humour, but always provides insightful advice.” “Felicity’s experience in the mobile and communications industries proved invaluable as we began building Aliv’s business. While Felicity is retiring, she has promised to remain

available to us, much to my relief, to provide advice and counsel as we need it, and in this context will continue to pass on her experience to the very capable Rawiya Rahming. “On behalf of the board of directors I want to extend my profound thanks to Felicity for her outstanding contributions during these unprecedented times.” Rawiya Rahming will assume the role of vicepresident of legal for Cable Bahamas. Ms Rahming has been working alongside Ms Johnson since she joined the company in January 2021 to ensure a smooth transition.

THE TRIBUNE

Wednesday, July 28, 2021, PAGE 3

BUSINESSES URGE: AVOID NEW LOCKDOWN AT ALL COSTS By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

BAHAMIAN businesses yesterday said another COVID-19 lockdown must be avoided at all costs, while conceding that the recent case surge justifies extending the emergency orders past their August 13 expiry. Dwayne Higgs, WHIM Automotive’s general manager, told Tribune Business that the government may need to keep the emergency orders in place to ensure persons comply with the COVID-19 health protocols of mask wearing,

social distancing and hand sanitising. “I figured it was coming because if you just drop the emergency orders, then no one’s going to wear a mask. People will get together, and if we are still in the middle of a pandemic, which it seems to be, then the measures need to stay in place in order to control the spread,” Mr Higgs added. “I don’t think you need a full lockdown. I mean, the economy is just starting to catch itself. If you lockdown again, you’re going backwards. If people do as they say, wear their masks properly over their noses and

mouth and stay apart from gested this may not one another, that in itself happen because it would will control the spread. require a special sitting of “They may also need Parliament, which is not to look into testing eve- scheduled to return until rybody that comes in, September 24. because vaccinated people Brent Burrows, CBS can also carry and spread Bahamas (Commonwealth COVID-19. If you’re Building Supplies) presisaying vaccinated people dent, said that while the don’t need to test, you are rise in COVID-19 cases potentially letting in some- was “discouraging” the body who’s going to spread country did not need to be COVID.” placed back into lockdown Mr Higgs spoke out as occurred in 2020. “They after Renward Wells, need to change their mesminister for health, told saging on the vaccination journalists that the Minnis process or something, but Cabinet is considering definitely we don’t need a extending the emergency full lockdown again,” he orders past August 13. added. He had previously sugJames Wallace, owner/

operator of Janaees Uniform Centre, said he was not surprised to hear that the government is considering extending the emergency orders. However, he voiced concern that the extension will coincide with his peak back-to-school sales season. “There is no way they are going to get things under control in under two weeks. This is a disappointment for me because this destroys my back to school. If they go into a lockdown, then how do I survive?” he asked. Mr Wallace urged the government to use the Pfizer vaccines, which have been approved for

inoculating children and teenagers, to vaccinate persons as young as 12 so they return to the classroom. He added that electronic teaching was not a good substitute for in-person learning. He added: “It’s unfortunate for the FNM (Free National Movement) government, but I am looking for them to do something. This is a real tough political pill for them, but I’m just looking at it as a Bahamian and not as a businessman. It’s a real tough decision for them because it would be political suicide to lock the country down again.”

await govt move BPL TOLD TO FOCUS ON Jitneys over emergency orders ITS NETWORK UPGRADES By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CHAMBER of Commerce director yesterday argued that Bahamas Power & Light (BPL) should focus more on strengthening its transmission and BPL HEADQUARTERS distribution (T&D) systems than energy storage. transmission outages on BPL said the energy storage Debbie Deal, head of the New Providence. it provides will “respond Chamber’s energy and enviAs a result, Mr Heastie within milliseconds” should ronment division, speaking said BPL will be equipped a generation asset go down after the state-owned utility with more “cost effective” unexpectedly by dischargunveiled its $15m Battery energy back-up and become ing 25 MW of power into Energy Storage System “more efficient” once the the grid for at least 30 (BESS) “game changer”, battery energy storage minutes. said: “I understand what system is completed and is Besides helping to keep they’re doing, and they’ve online come July 2022. the lights on, BPL said the been talking about making Ms Deal, though, added: main advantages provided the grid smarter and help- “If BPL is borrowing by BESS and its spinning ing with T&D. money, then what col- reserve will be grid stability; “But that’s more of what lateral are they using for decreased fuel consumpwe need; we need proper that money and how are tion; reduced emissions; T&D so that we don’t they planning on repay- decreased run-time hours have all of these outages. ing it? If you’re planning of engines; additional They’ve done T&D in on borrowing $535m to capacity; and operational Abaco, but we need it here. use that money to pay off and maintenance savings. It just seems backward old debts, so that you can Wärtsilä has been hired to me. It’s good that they have a clean slate to borrow to build a system that mainare doing something, but I more money, then at what tains 25MW and 27MW wonder where the money is point are they going to start hours, with 14000MWh coming from?” thinking about a strategic annual throughput. The system will use 24 inverters, Ms Deal spoke out partner for BPL?” Wartsila, which is also six inverter transformers after Whitney Heastie, BPL’s chief executive, said supplying the 225 MW of and 24 Gridsolv Quantums the Battery Energy Stor- new generation capacity (Battery Enclosures) at the age System (BESS) that for New Providence’s new beginning of its life. Then, in the fifth year, will be built at BPL’s Blue power plant, was chosen to Hills power station will implement the BESS pro- the system is augmented by enable the utility to transfer ject after a selection process eight racks and two invertNew Providence’s energy that involved the Ministry ers plus one transformer load demand to Clifton of Finance and the Inter- on the AC side. In addition Development to the BESS, the project Pier power station, whose American Bank (IDB). It is already includes the the engineerengines use cheaper fuel. He added that the 25-27 on-site preparing to begin ing services and associated megawatt (MW) facility, to construction in around two equipment required to integrate the existing Wärtsilä be built by Finnish energy months’ time. Describing the benefits engines and the new BESS conglomerate, Wartsila, will thus reduce the strain for from the BESS system, into the controls platform. Blue Hills power station’s gas turbines, and said: “This 25 MW battery energy storage system is going to be a game changer for BPL.” The move will significantly reduce or eliminate the need for BPL to have spinning reserves, or what is classified as generation capacity that is online but not loaded, as the BESS system will respond within ten minutes to compensate for any generation or

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE jitney industry’s hopes of doubling passenger loads to 100 percent from August 14 could be dashed if the government extends the COVID-19 emergency orders, sector players said yesterday. Harrison Moxey, the United Public Transportation Company’s (UPTC) president, told Tribune Business that some bus/ franchise owners were already being cheated by drivers who were exceeding the COVID-mandated 50 percent passenger load limit and then pocketing the difference, although he declined to provide details. He added: “For the most part guys have been maintaining the 50 percent passenger limit but then, too, you have to realise it’s not an overwhelming amount of people wanting to use public transportation now. “It is what it is but we just need to know where we are heading business

wise because, right now, bus owners are hurting and I can tell you because I’m feeling it. I can’t get what I need to manage out of my drivers.” The entire public bussing system was shut down completely for around five months in 2020, and was only allowed to operate again at 50 percent of capacity in August. Mr Moxey said: “I have four vehicles off the road now, and drivers aren’t really available to go, so what you are left with you have to put up with. I had to let one guy go because he was only turning in $250 a week, so it’s not good.” He added that it was not fair to keep that driver on when he could be doing something else to help his family. Despite the low passenger traffic, all routes have busses running, including the 10 and 10a between Cable Beach and the downtown area. These routes were the last to come on stream because they are dependent on Cable Beach hotel strip activity and, as a result of the tourism

shutdown, there were no visitors or workers to take to the western side of the island. Mr Moxey said: “That number 10 bus route is starting to come back and doing better. If you talk to an owner/driver they will tell you that they are doing better, but if you talk to just a driver you won’t get the full story because that’s more than they could take home. But the number 10 is doing better, and the 12b and the Carmichael Road routes are picking up real well now.”

PAGE 6, Wednesday, July 28, 2021

THE TRIBUNE

Governor: Public finance rebuild ‘ambition’ critical FROM PAGE ONE “Largely as a result of external borrowing, international reserves reached $2.38bn in May, up 21 percent year-over-year, with usable reserves at $1.17bn and non-borrowed usable reserves at $368.7m, which is not sustainable,” Ms Dukharan said. “A rise in national debt (up 10.5 percentage points yearover-year, which reached 96 percent of GDP in March 2021, will put further pressure on government finances. “The Central Bank relaxed the ceiling on long positions on foreign exchange transactions for commercial banks, which was instituted in April 2020. This will afford greater flexibility on foreign exchange trading activities. “The Central Bank took the measure as they expect foreign exchange inflows from tourism to strengthen

in the remainder of 2021. Medium-scale foreign direct investment (FDI) projects boosted construction activity in the 2021 first quarter, though domestic private sector activity was weak. Hurricane reconstruction works and ongoing FDI-led projects will continue to drive activity and employment.” Mr Rolle confirmed that the Central Bank now has “more comfort to moderate” the remaining foreign exchange restrictions it imposed in May 2020 in response to COVID-19, and is “going to be reviewing what is suitable timing” to lift the Investment Currency Market (ICM) bar that has prevented Bahamians from investing in overseas securities and real estate for some 14-15 months. He based this on the strengthening foreign currency inflows seen in the 2021 first half as tourism recovers, adding that the

private sector is “transitioning to be the net provider of foreign currency inflows” once again as the economy rebounds and opens up. “The reserves are certainly higher than we had expected,” Mr Rolle told Tribune Business. “Last week we were around $2.6bn because we would have purchased some funds from the government. We certainly had not counted on the reserves being this high primarily, because we’d hoped the monies received into The Bahamas following Hurricane Dorian, the private sector would have spent those in the rebuilding. “We are anticipating that monies that have accumulated, sourced from reinsurance inflows, if we want a more positive outcome those should go back into some of the hurricane rebuilding activity.” With Hurricane Dorian restoration anticipated to further draw down on the

external reserves, Mr Rolle said he was satisfied that the Central Bank has sufficient monetary policy weapons to preserve the US dollar peg even though many observers are concerned that the huge borrowings before, during and after COVID will impose a significant drain on future foreign currency inflows to service the debt repayments. “I think we continue to have the tools and flexibility to manage our foreign exchange market activity, and I think we’re still in a good position to handle that servicing whenever it is presented,” Mr Rolle added. However, he quickly added that this “does not diminish the importance” of setting the public finances back on the consolidation path as soon as COVID conditions allow. “It isn’t so much where we presently are, but do we go in the direction of increasing our public debt burden?” the Central Bank governor asked. “In that case, we could find ourselves in a position where our ability to service the debt becomes a challenge. “For that reason, one has to keep the spotlight

on the fiscal consolidation path and how ambitious we want to be around fiscal consolidation. That’s what’s important. We cannot overlook the fact we proceeded to do what we had to do because of the pandemic, but what is important is we have the appetite to do it.” Asserting that The Bahamas has no choice but to repair its finances once the COVID emergency has passed, Mr Rolle added this was critical so that “if the need arises in the future we can rely on access to credit” in the domestic and international markets in another emergency. “We must rebuild,” he said. “I think it is something that the country will have to be continuously focused on. Rebuilding is not immediately about seeing resolution, but you improve and strengthen the system so that when you get to the point of repaying you have a stronger infrastructure. “I think that we have to understand that whenever we start to plan, it’s always planning with the understanding that if we do nothing the outcome is going to be considerably less favourable. The

government has to take an active approach in terms of planning and rebuilding.” Mr Rolle said the Central Bank “will be able to make an announcement soon on the when”, referring to the timing of the removal of Investment Currency Market restrictions - the last COVID-related foreign currency measure still in place. “We have seen in 2021 that the inflows are stronger, so from that perspective the private sector is transitioning to be the net provider of foreign currency inflows. We do see evidence that the seasonally strong amounts on the inflow side were present in the first half of the year,” he added. “The extent to which the Central Bank has taken a conservation approach, recent developments are giving us confidence to moderate the controls. That’s not to say the economy is not in a rebuilding state, but even in a rebuilding state there’s still a comfortable supply of foreign exchange relative to the needs expressed by the private sector. We are looking at how to begin to remove any residual conservation measures we have in place.”

Liquidator blasts own creditors committee FROM PAGE ONE

duties and is not statutorily mandated to follow the dictates of the liquidation committee. “The liquidation committee appears to have taken umbrage because I did not transfer the trust assets and I actually worked as a competent liquidator attending to my statutory duties and not just the liquidation committee dictated duties.”

Continuing, Mr Rahming blasted: “There appears to be an overt effort to confuse the liquidation issues, to potentially confuse the parties, waste the court’s time on inconsequential matters and delay the approval of costs. “I found the critique of the costs by the liquidation committee to be significantly lacking in substance, truth and accuracy. Essentially, every task that we undertook over the past nearly

two years was considered by the liquidation committee as unnecessary and the related cost excessive.” Mr Rahming alleged that the liquidation committee even challenged the $30 cost for providing account statements to clients, while often failing to justify or provide evidence to support their criticisms. “One one hand they state that the official liquidator has not done what they think should have been done, and that the official

liquidator has done insufficient work, and on the other hand they state that too much unnecessary work has been done,” he added. “Instead, the liquidation committee has mostly provided an argumentative list of general criticisms, colourful adjectives on the amount of the costs, and unsubstantiated statements and attacks without relating to the specific items of costs that have been claimed.’ Mr Rahming’s counterattack might be viewed as his final salvo before obtaining Supreme Court approval to hand over Pacifico Global’s liquidation to the Deloitte & Touche (Bahamas) duo, Mark Munnings and Tiphaney Russell, at the end of this week. To conclude his tenure, the Intelisys (Bahamas) chief is requesting that the Supreme Court approve the payment of $1.144m in fees to himself and his firm, and a further $703,000 to Callenders & Co, for a total $1.847m. Mr Rahming has put forward as an alternative that he be paid 80 percent of his fees under the Insolvency Practitioners Rules, but either way his fees - and that of his attorneys - will come out of the assets in Pacifico Global’s liquidation estate. The liquidator’s previous reports to the Supreme Court identified Mr Lanciano, one of the three liquidation committee members, as also being a central figure in events leading to Pacifico Global’s collapse. He alleged that Mr Lanciano issued instructions to redeem a significant amount of investor monies, and have these assets transferred to his new Bahamas-based investment advisory firm, Phoenix Capital Ltd, while still engaged by his now-former employer. The redemption request, allegedly made without Pacifico Global’s knowledge, triggered a dispute with Mr Lanciano Phoenix Capital that ultimately resulted

investment funds containing up to 70 percent of the former’s client assets under management being placed into receivership. “The dispute arose due to the company [Pacifico Global] apparently not having knowledge of the large redemption request that was made by Phoenix while Lanciano was employed by the company and the proposed change in custodianship from [Pacifico Global] to Deltec Fund Services,” Mr Rahming alleged in his report. Mr Lanciano and Eliano Tamburini, Pacifico Global’s former chief executive, were named by the liquidator as being responsible for attracting “the majority of clients” on Pacifico Global’s books, and they seemingly sought to take these customers with them when they left. However, the fees charged by liquidators and their attorneys have increasingly become a bone of contention in Supreme Court-supervised windingups. This has especially been the case when liquidators have sought to obtain approval for a portion of their costs to be paid from client assets, which are held in trust/escrow and in a fiduciary capacity, and do not belong to the company being liquidated. This applies to the Pacifico Global situation, where Mr Rahming is seeking the Supreme Court’s approval to obtain 22 percent of his “general liquidation costs” collectively from client assets along with a $508,512 sum for work done directly on these customers’ behalf. And Mr Lanciano and the other liquidation committee members previously received backing for their concerns from no less an authority than the Supreme Court of The Bahamas. Justice Ian Winder described as “valid” many of the complaints submitted by the Pacifico Global liquidation

committee, which is supposed to represent creditor interests and assist the liquidator in winding-up the insolvent company. Justice Winder, in a March 9, 2021, ruling, said his initial instinct was that client assets should cover no more than 15 percent of the general liquidation costs. He ruled: “These are trust assets and cannot be unduly burdened with the general liquidation costs for Pacifico Global.... “What is in fact required is a plan to secure a replacement trustee for these funds as the official liquidator cannot efficiently administer them or be expected to manage them. Such a process would thereby minimise the burden to these assets and unnecessary liquidation costs.” And Justice Winder, backing Mr Lanciano and his colleagues, added: “I accept that much of the complaints of the liquidation committee are valid. The amounts which are said to be attributed to the trust assets not in receivership have been inconsistently stated over the several applications made by the official liquidator for payment of these fees.” Still, he agreed that Mr Rahming was entitled to be compensated from client assets for work done on their behalf as “to accept otherwise would be wholly inequitable”. However, in granting the liquidator’s request the judge imposed “the caveat that the fees attributable must be in accord with the fees which Pacifico Global would otherwise levied had it not been placed in liquidation”. The liquidation committee had opposed Mr Rahming and his team recovering “general liquidation costs” from client assets, arguing that this would be “an unreasonable depletion of their capital” on top of the near two-year wait for monies to be returned.

THE TRIBUNE

Attorney: Amend laws for mandatory vaccine FROM PAGE ONE let their children go to school without these. Smallpox vaccination certificates were also at one time required for travel. “For health and safety legislation and things like that, I don’t see why we cannot amend the law,” he reiterated. “We’re in service-oriented industries in this economy, so we need to get it under control. It’s a matter of emergency; get it under control. I hope they don’t extend the emergency orders as I don’t think it will be necessary, but I think legislation is necessary.” Some 75 new COVID cases were recorded on Monday. With the Prime Minister due to address the nation tonight on the Government’s latest COVID response strategy, Ben Albury, Bahamas Bus and Truck’s general manager, last night told Tribune Business that any further extension of the emergency orders would be “dire” for the country and its economy. “I don’t even want to consider that this would be happening at this point,” he said of the prospects for an extension. “They’ve done their best, had these orders for quite a while and now it’s time to bring this to an end.... government cannot continue to protect us from ourselves forever.

“People are going hungry, the economy is rebounding, tourism is rebounding. I don’t see this [COVID] going anywhere for the foreseeable future. It’s something we’re going to have to co-exist with to a degree. We’ve adapted to other sicknesses, flus. We have to follow the guidelines, and if we get sick there will be consequences, but the government cannot protect us from ourselves forever.” Turning to the prime minister’s address, Mr Albury voiced optimism that “there will be some balance between public safety and the financial health of the country” in whatever strategy is adopted to contain COVID-19 infections and bring them down. “Hopefully he will strike some balance between where we are from a health and financial perspective,” he reiterated. “I’m sure the government needs money. Everybody needs to try and keep this positive we have with the economy going, but we have to look at the health. “People are getting sick, and the system is getting overwhelmed, so we have to look at it responsibly. We cannot continue to open and shut, open and shut. We need some consistency on the way forward other than restrictions.”

Govt defending ‘sole source’ Customs app FROM PAGE ONE

had passed through all necessary approval processes after Exempt Technologies proposed the app to Bahamas Customs following its preparation of a “proof of concept” to the agency. Speaking after the government decided to suspend the imposition of a $3.35 per declaration processing fee for air arrivals to The Bahamas, which it said was approved in the 20212022 budget, Mr Johnson said of Exempt Technologies’ selection: “The simple answer is, as is the case now and as is the case under the new legislation, there are carve outs for sole sourcing where there is proprietary technology and continuation of process work. “There are several scenarios where it is acceptable to go into sole sourcing. The company approached Customs, had a concept they had done some work on, and Customs looked at various factors, made the determination that this is the way they wanted to go and the approval process that was needed to get it done. “All the approval processes were followed. They had developed a proprietary proof of concept they wanted to sell to Customs,

INTENT TO CHANGE NAME BY DEED POLL

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, CHRISTINE RAHMING of New Providence, Bahamas, Parents of ALECIA RAHMING intend to change my child’s name from ALECIA RAHMING to ALECIA ELLIS . If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE NOTICE is hereby given that CHANTAL SIMEON, of Blue Hill Road, Nassau, The Bahamas 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 21st day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that CINDY PAUL, of Jennie Street, Nassau, The Bahamas 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 21st day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that VERNAY ROSEANNE WHYMS of P.O. Box EE-17617, Leeward East, 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 21st day of July, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

and that was decided by Customs, the Ministry of Finance and certainly the government itself.” Exempt Technologies’ website lists its senior management as Dino Huyler, Michaela Bayliss and Elon Mackey. It could not be reached for comment before press time, but other app and digital payment technology providers - speaking on condition of anonymity - questioned the justification for “sole sourcing” and not putting the contract out to bid especially since it involves levying fees on Bahamian citizens. Meanwhile, Customs yesterday said it had temporarily suspended the $3.35 processing fee after it was levied on persons who did not need to pay it. The fee is only levied when persons declare goods that attract import duties, but those using their annual exemptions or filing “nothing to declare” were also being charged. Social media accounts, many connected to the Opposition Progressive Liberal Party (PLP), slammed the fee’s imposition for causing long lines and 90 minute queues for persons returning to The Bahamas via Lynden Pindling International Airport (LPIA). They questioned

why the app was not simply tied into Customs’ existing portal to make payment even simpler. “The government has temporarily suspended the implementation of a Customs processing fee, approved during the 20212022 budget exercise, to allow for additional training and customer education,” the Ministry of Finance said in a statement. “The recent change was made to bring the procedures for air arrivals in line with all other forms of entry, where a small processing fee is changed to support the cost of operations by the Bahamas Customs and Excise Department. “The $3.35 fee does not apply to individuals using their Customs exemption or filing nothing to declare. It is only applicable for individuals who declare taxable goods on a C17 or C18 form, associated

with accompanied baggage declarations.” Dr Geannine Moss, Comptroller of Customs, added: “These fees are collected by the Customs Department and deposited directly to the Public Treasury. We are aware that some customers were charged incorrectly and are making arrangements to issue the appropriate refunds. While the fee is being suspended we are reviewing the implementation to ensure adequate training and proper communication.” The Ministry of Finance added that the fees are applicable to both manual submissions and those made through Exempt Technologies’ EXEMPT app, which is now being trialled. It described as “wholly erroneous” social media missives linking the app to Kanoo.

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

NOTICE

PUBLIC NOTICE

The Public is hereby advised that I, SHERRY CHERYL HANNA of #226 Hudson Estates, P.O. Box F-42900, Freeport, Grand Bahama intend to change my name to CHERYL CHARECE HANNA. 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, Bahamas no later than thirty (30) days after the date of publication of this notice.

Wednesday, July 28, 2021, PAGE 7

Del International Ltd. (In Voluntary Liquidation)

NOTICE is hereby given that MORICHA FERIER, of Nassau Street, Infant View Road, Nassau, The Bahamas 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 28th day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Notice is hereby given that the above-named Company is in dissolution, commencing on the 19th day of July 2021. Articles of Dissolution have been duly registered by the Registrar. The liquidator is (Amicorp Bahamas Management Limited) whose address is Bahamas Financial Centre, 3rd Floor, Shirley & Charlotte Street, P.O. Box N-4865, Nassau, Bahamas.

Dated this26th day of July, 2020 (AMICORP BAHAMAS MANAGEMENT LIMITED) LIQUIDATOR

MARKET REPORT www.bisxbahamas.com

TUESDAY, 27 JULY 2021

BISX ALL SHARE INDEX:

CHANGE

1956.40

0.07

%CHANGE

YTD

YTD%

0.00 -136.06

-6.50

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 6.50 33.95 1.62 2.90 1.78 6.00 7.00 3.60 5.27 3.80 6.16 12.00 2.71 7.76 10.71 9.55 14.31 4.10 8.97 16.00

52WK LOW 3.20 22.65 1.46 1.62 1.43 5.00 6.00 2.76 4.25 2.47 5.00 9.75 2.10 5.30 9.50 8.35 13.00 3.42 8.00 15.20

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

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

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 104.00 100.49 100.95 100.53 100.30 100.62 100.70

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.25 100.00 100.95 100.29 100.05 100.62 100.46

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

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

CLOSE 6.20 39.95 1.60 2.45 1.44 6.00 6.97 3.36 5.27 2.65 5.95 9.80 2.53 7.75 11.35 9.55 14.00 3.99 8.30 15.50

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.07 0.00 0.00 0.00 0.00 0.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS710237 BSBGRS880378 BSBGRS630211 BSBGRS700238 BSBGRS700246 BSBGRS770249 BSBGRS790262

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.03 100.19 100.27 100.05 100.62 100.72

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 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 BGRS71023 BGRS FL BGRS88037 BGRS FL BGRS63021 BGRS FL BGRS70023 BGRS FL BGRS70024 BGRS FL BGRS77024 BGRS FL BGRS79026

LAST CLOSE 6.20 39.95 1.60 2.45 1.44 6.00 6.97 3.36 5.27 2.65 5.95 9.80 2.52 7.75 11.28 9.55 14.00 3.99 8.30 15.50

VOLUME 50

400

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 25.9 42.9 N/M N/M N/M N/M 18.9 -7.7 37.6 14.4 13.3 13.6 24.8 16.6 17.6 13.1 17.2 19.7 8.8 24.6

YIELD 2.74% 3.15% 1.25% 1.22% 0.00% 0.00% 3.73% 0.00% 0.00% 4.53% 3.70% 7.35% 17.15% 0.77% 2.89% 2.51% 3.86% 3.01% 2.41% 3.94%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

MATURITY 19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.53% 4.42% 4.81% 4.53% 4.56% 4.50% 4.53%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 22-Oct-2023 26-Jul-2037 12-Dec-2021 29-Jul-2023 29-Jul-2024 4-May-2024 28-Mar-2026

MUTUAL FUNDS 52WK HI 2.43 4.47 2.17 202.18 190.86 1.70 1.81 1.78 1.07 8.75 10.46 7.40 15.99 12.72 10.39 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.67 1.73 1.75 1.03 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.43 4.47 2.17 202.18 190.86 1.70 1.76 1.77 1.04 8.75 10.46 7.40 15.99 12.72 10.39 N/A 10.43 14.89

YTD% 12 MTH% 1.85% 4.26% 0.77% 1.44% 1.14% 2.84% 0.14% 5.02% 3.25% 31.13% 1.37% 1.52% -2.05% -2.21% 0.36% 0.76% -1.28% -2.30% 3.13% 5.76% 4.29% 7.07% 1.70% 3.85% 14.99% 38.64% -1.20% -0.36% 3.43% 0.76% N/A N/A 3.00% 25.60% 7.90% 48.70%

NAV Date 31-May-2021 31-May-2021 28-May-2021 31-Mar-2021 31-Mar-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 30-Jun-2021 31-Mar-2021 31-Mar-2021 31-Mar-2021

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

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

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

THE TRIBUNE

Wednesday, July 28, 2021, PAGE 9

Unions fearing ‘chilling effect’ if orders extend FROM PAGE ONE still suspended, and government unemployment benefits of $100 per week only lasting until endSeptember when the Department of Social Services takes over the responsibility, Mr Ferguson questioned the survival prospects for persons still at home. “If that is done, it will have a chilling effect on the workforce in this country,” the TUC president added. “Obviously the level of income is at an all-time low, and the right to lay people off will be suspended as

have not met with the unions from about March 2020.” Darrin Woods, pictured, the Bahamas Hotel, Catering and Allied Workers Union (BHCAWU), yesterday voiced surprise that the emergency orders could be extended even though The Bahamas is dealing with skyrocketing COVID-19 cases that are threatening to overwhelm the public healthcare system. “That’s not a good thing for the workers,” he added of a possible extension. “They continue to be in limbo, that’s what it does. That doesn’t signal a good sign for workers in general, especially those at home. I

these protocols will still be operative. “It will have a serious effect on the workers, especially those still on furlough, and one would have thought with this kind of adjustment or change the unions ought to have been consulted. The government has chosen not to discuss it with the unions, and records will show they

can only say that for Atlantis and the hotels where we are represented, we have at least 60 percent of our membership that are still out, not the entire bargaining unit.” Renward Wells, minister of health, yesterday said the government is still assessing whether to extend the Emergency Orders in light of the latest COVID-19 case spike. He said: “Those are decisions really, collectively, for the entire Cabinet to make. Obviously, as I would have said on Friday, for us this is not a static situation. “It is a very dynamic situation, and in dynamic situations, that means decisions are made as we

go along based on the initial conditions, the circumstances that we find ourselves in. “So, as we approach August 13, the government will assess, reassess, look at where we are, where we want to go economically, where we want to go nationally and, in our social sphere, the mental health of the Bahamian people. “How do we see ourselves from a legal standpoint being able to move forward and still there are rules, regulations, that keep our people safe? So we’re going to look at all of that in the sphere of the context of continuing to maintain the

THE WEATHER REPORT

5-Day Forecast

TODAY

TAMPA

FRIDAY

SATURDAY

SUNDAY

Mostly sunny

Mainly clear

Mostly sunny and pleasant

Sunny to partly cloudy and pleasant

A morning t‑storm; mostly sunny

Partly sunny with a stray t‑storm

High: 90°

Low: 79°

High: 90° Low: 80°

High: 89° Low: 79°

High: 89° Low: 80°

High: 90° Low: 79°

AccuWeather RealFeel

103° F

87° F

101°-87° F

99°-87° F

101°-88° F

102°-87° F

High: 90° F/32° C Low: 81° F/27° C

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

almanac

ABACO

High: 86° F/30° C Low: 81° F/27° C

4‑8 knots

High: 91° F/33° C Low: 77° F/25° C

4‑8 knots

FT. LAUDERDALE

FREEPORT

High: 91° F/33° C Low: 78° F/26° C

W S

WEST PALM BEACH

High: 89° F/32° C Low: 79° F/26° C

MIAMI

High: 91° F/33° C Low: 78° F/26° C

4‑8 knots

KEY WEST

High: 90° F/32° C Low: 83° F/28° C

NASSAU

High: 87° F/31° C Low: 80° F/27° C

N E

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

tiDes For nassau Low

Ht.(ft.)

Today

11:56 a.m. ‑‑‑‑‑

High

Ht.(ft.) 2.8 ‑‑‑‑‑

5:52 a.m. 6:05 p.m.

0.2 0.5

Thursday

12:12 a.m. 12:46 p.m.

3.0 2.8

6:36 a.m. 6:57 p.m.

0.4 0.8

Friday

12:58 a.m. 1:37 p.m.

2.7 2.7

7:21 a.m. 7:52 p.m.

0.6 1.0

Saturday

1:47 a.m. 2:29 p.m.

2.5 2.7

8:07 a.m. 8:49 p.m.

0.7 1.1

Sunday

2:38 a.m. 3:23 p.m.

2.3 2.7

8:55 a.m. 9:48 p.m.

0.8 1.2

Monday

3:32 a.m. 4:17 p.m.

2.2 2.7

9:45 a.m. 0.8 10:46 p.m. 1.1

Tuesday

4:27 a.m. 5:09 p.m.

2.2 2.8

10:36 a.m. 0.8 11:40 p.m. 1.1

sun anD moon Sunrise Sunset

6:36 a.m. 7:57 p.m.

Moonrise Moonset

11:24 p.m. 10:54 a.m.

Last

New

First

Full

Jul. 31

Aug. 8

Aug. 15

Aug. 22

CAT ISLAND

High: 87° F/31° C Low: 79° F/26° C

W S

6‑12 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 ................................................... 91° F/33° C Low .................................................... 81° F/27° 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 ................................... 77° F/25° C Precipitation As of 2 p.m. yesterday ................................. 0.04” Year to date ............................................... 11.27” Normal year to date ................................... 19.03”

ELEUTHERA

High: 90° F/32° C Low: 79° F/26° C

3‑6 knots

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 87° F/31° C Low: 80° F/27° C

High: 86° F/30° C Low: 80° F/27° C

High: 88° F/31° C Low: 80° F/27° C

W S

LONG ISLAND

tracking map H

uV inDex toDay

THURSDAY

ORLANDO

To advertise in The Tribune, contact 502-2394

| Go to AccuWeather.com

TONIGHT

High: 91° F/33° C Low: 76° F/24° C

health, safety and well-being of the Bahamian people as best as we can.” Cabinet ministers had previously said the Government was hoping not to extend the emergency powers, but the latest surge in infections - with 75 more recorded on Monday - may well prompt a rethink as the public healthcare system becomes overwhelmed.

High: 87° F/31° C Low: 80° F/27° C

4‑8 knots

MAYAGUANA High: 87° F/31° C Low: 80° F/27° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 86° F/30° C Low: 80° F/27° C

High: 87° F/31° C Low: 80° F/27° C

GREAT INAGUA High: 89° F/32° C Low: 80° F/27° C

8‑16 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 S at 4‑8 Knots S at 6‑12 Knots E at 3‑6 Knots ESE at 6‑12 Knots ESE at 6‑12 Knots ESE at 7‑14 Knots E at 8‑16 Knots E at 8‑16 Knots ESE at 4‑8 Knots ESE at 6‑12 Knots W at 4‑8 Knots S at 4‑8 Knots SE at 6‑12 Knots ESE at 7‑14 Knots NE at 8‑16 Knots E at 8‑16 Knots E at 7‑14 Knots ESE at 8‑16 Knots E at 8‑16 Knots ESE at 8‑16 Knots SE at 4‑8 Knots SE at 6‑12 Knots E at 8‑16 Knots E at 8‑16 Knots SE at 4‑8 Knots ESE at 7‑14 Knots

WAVES 2‑4 Feet 1‑3 Feet 0‑1 Feet 0‑1 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 0‑1 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 3‑5 Feet 3‑6 Feet 0‑1 Feet 1‑2 Feet 2‑4 Feet 3‑5 Feet 1‑2 Feet 1‑2 Feet

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

WATER TEMPS. 86° F 86° F 88° F 89° F 87° F 86° F 84° F 84° F 87° F 86° F 87° F 88° F 87° F 88° F 85° F 85° F 87° F 85° F 84° F 84° F 86° F 87° F 85° F 85° F 87° F 86° F