07302020 BUSINESS

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THURSDAY, JULY 30, 2020

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BPL: 90% of arrears clients still face cut-off

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

S

OME 90 percent of Bahamas Power & Light (BPL) customers facing disconnection last night remained in danger of having their electricity cut-off as the utility seeks to recover a $46m debt.

Data provided to Tribune Business yesterday by the state-owned energy monopoly showed that just 1,311 residential and commercial customers, out of a total 12,446 that were threatened with disconnection, have either settled their arrears or worked out a mutuallyacceptable payment plan with it.

• Just 1,311 out of 12,446 make plans • Some 1,361 disconnections carried out • Utility says they owe it collective $46m

This means some 11,135 customers are now susceptible to having their electricity cut-off with BPL’s chairman, Dr Donovan

Moxey, pictured, renewing his plea for those facing COVID-19 related financial hardship to be “proactive” and meet with the utility so that their service can be maintained.

BPL also confirmed to this newspaper that a net 715 customers have lost their energy supply since disconnections resumed earlier this month following the three-month pandemic lockdown, with some 1,361 disconnected to-date and a further 646 reconnected.

The statistics were obtained after the deadline for the final two of three customer categories faced with disconnection to either pay-off their arrears or make payment arrangements expired on Tuesday, July 28.

Prior to this, some 11,399 customers who were $500 or more in arrears, and 90 days past due, prior to April 1 and the full onslaught of the COVID-19 pandemic were

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Insurer: We can’t raise premiums indefinitely

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A LEADING insurer says the industry “simply cannot keep putting broad brush premium increases” on Bahamian households and businesses because this will create an unsustainable business model.

Tom Duff, Insurance Company of The Bahamas (ICB) general manager, told Tribune Business that individual property and casualty underwriters as well as the entire industry needed to explore the development of an alternative “product” that would provide some degree of hurricane protection and ensure they did not drop coverage altogether.

Acknowledging that the affordability of Bahamian insurance products was being further squeezed

• ICB chief says ‘broad brush’ rises unsustainable • Says industry must develop affordable product • Hurricane cover accounts for 2/3 of premium by a combination of the COVID-19 pandemic and reinsurance pressure to compensate for hurricanerelated losses, Mr Duff said it was imperative to keep premium rates down sufficiently to prevent another Dorian-style situation where up to 50 percent of impacted properties were totally uninsured.

Writing in ICB’s recentlyreleased annual report, he said: “The enormous scale of the loss from Dorian has caused insurers to reflect on how the industry can mitigate against future catastrophe event losses.......

“The Bahamian insurance industry cannot simply rely

Bahamas First closes $4.28m premium ‘gap’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS First’s top executive yesterday said the insurer has largely closed a $4.276m premium income “gap” that opened towards the 2020 first quarter end due to the COVID-19 lockdown.

Patrick Ward, the property and casualty underwriter’s president and chief executive, told Tribune Business that top-line gross written premiums performed significantly below expectations during the three months to end-March

PATRICK WARD due to the pandemic restrictions implemented by the government over the period’s last two weeks.

This dropped premium revenues by 9.9 percent

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Fishermen fear 40% crawfish price slump

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net CRAWFISH fishermen may suffer at least a 40 percent year-over-year decline in prices for their catch compared to last season’s peak, it was revealed yesterday.

Paul Mailis, director of the National Fisheries Association of The Bahamas, told Tribune Business: “We don’t know yet what the exact price is going to be because we will find out as the exporters start beginning to export out, and the buyers start buying again.

“It’s a very, very grim look, and we don’t know if it’s going to be $5 a pound or $10 a pound, but right now we are being told it’s going to be in the under $10 range, which is going to be very tough on fishermen this year. The peak price before the end of the season last year was $17 per pound.”

Mr Mailis, though, added that product spoilage such as that experienced at Potter’s Cay Dock due to the COVID-19 shutdown of vendors would not impact the export market.

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on broad brush increases in policy rates and deductibles as its long-term loss mitigation strategy. Such a strategy will ultimately reduce the pool of customers willing and able to buy catastrophe insurance.

“In order to achieve any increased penetration in the property class, insurers may need to consider becoming more creative in providing cover options for those customers who wish to buy at least some level of catastrophe protection.”

Dorian, which devastated Abaco and Grand Bahama last September, is thought to have produced gross insured losses of between

$1.5bn-$2bn. However, Mr Duff’s comments are among the first from the Bahamian general insurance industry to recognise that consistent premium increases are simply unsustainable amid the job and income losses, and business closures, produced by COVID-19.

Speaking to Tribune Business subsequently, Mr Duff said property owners can opt to take a higher deductible on their policies than the typical two percent to reduce their annual premiums. However, the risk in doing so is that they will have to come up with a

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‘Show me the money’ on digital permit plan

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMIAN professionals yesterday said “show me the money” after a Cabinet minister expressed hope that a fully integrated digital system for handling building permits will be in place by year-end.

Architects and engineers responded alike after Desmond Bannister, minister of works, told Tribune Business that the Town Planning Committee chairman and acting physical planning director have been “tasked” with developing and overseeing improvements to the whole permitting process.

He added that the ultimate goal was the longawaited automation of the entire building and planning approval system, with applications flowing seamlessly between the relevant government agencies and permits issued within “hours or a few days rather than weeks and months”.

Mr Bannister said Adrian White, the Town Planning Committee chair, and Charles Zonicle, acting director of physical planning, had provided “tentative dates” they wished to hit along with a proposed budget, although he declined to provide details on these timelines and the funding involved.

“The chairman and acting director have met with me on two occasions now, and we are looking to see if we can put some new processes in place in relation to how the whole system works,” the minister told this newspaper.

“The issues with the Building Control Department, and moving ahead with planned automation, hopefully for later this year.

It would involve automation of the whole system of approvals for permits, and digitising what we are

DESMOND BANNISTER doing. That would improve the whole process and speed it up.

“I think it would benefit everyone. Right now, we have a Town Planning Committee that spends the entire day on Tuesday looking at these applications.

It’s a process that’s needed reform for many years.

These are private citizens.

We have Department of Physical Planning staff who are basically overwhelmed.

“They have challenges there for this century with an organisational mandate that really is outdated. We have to look at how we improve that for everybody. If you are applying for something, once this whole system is integrated, instead of your application for a permit going to Building Control, Town Planning and then to environmental health, it will be done digitally,” Mr Bannister continued.

“The country and citizens will not have to go through the hurdles they go through every day. Hopefully we’ll see the benefits of that before the end of the year, having it in place and moving ahead. We’re going to make it happen. Instead of permits taking weeks and months, they should take hours or a few days.”

Removing the bottlenecks and red tape in the planning/building permit process would provide a major boost just when The Bahamas badly needs some positive economic

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PAGE 2, Thursday, July 30, 2020

AVOIDING REALLY GRAPHIC MISTAKES E VER had a misunderstanding with a graphic or website designer who promised a dazzling design, but instead delivered a big mess? Did you lose time, hundreds of dollars, business reputation and suffer emotional turmoil? And, the worst part: You had to seek another alternative.

If you endured such an experience, here are a few tips that can help save time, money and stress that occurs when you do not receive the service you deserve.

Pretty does not always yield Your desire is for your website to look nice and create a visual impact. However, pretty does not always result in sales. Always choose one that has the task of directing visitors to where they need to go and, if you are able to have both - a beautiful design and results - then go for it.

Is a redesign needed?

How about asking a designer to improve your website? What if your message is wrong? What if your brand image is pulling in the

wrong target market? What if your marketing strategy is not effective? What if there is an issue with your product or service? Can you afford to ask ten specialists their opinion? Absolutely not, as you will end up overhauling every element of your business.

Remember: Design is only one piece of a bigger picture. First, target the problem area, as you might discover there is nothing wrong with the overall design. Instead, a new marketing strategy may do the trick. For example, a simpler headline may completely change how customers view your brand, saving hundreds of dollars.

Spending a fortune is not necessary It is said “you get what you pay for”, and sometimes that is true. But it is not true that you need to spend a life’s savings on a good website. Beware of exorbitant rates, technical speeches and fancy coding terms. The reality is that templates and platforms such as WordPress have made site design easier and faster. Decide your budget,

and research designers who understand your business needs. Also browse other sites and shop around as it may be beneficial.

Do all designers have branding skills?

Another little secret is that most designers may be skilled in developing graphic design, but not in developing brand identities. If they are not skilled, then they are merely assuming. They are assuming your target market, and they are assuming the values of your business and its marketing message.

It is wise to work with a branding specialist who understands branding, and can develop a site that reflects your brand identity, otherwise you will attract the wrong people and the entire website will be futile.

Maintaining a website is not expensive Since graphic design and website developments are usually a one-time expense, occasionally unethical providers tend to loop customers into recurring monthly charges, even though sometimes recurring services may be

HARD skills are defined by Ernst & Young (EY), a leading accounting and consultancy firm, as technical ability and business insight that define a person and are crucial for career success.

Historically, risk and compliance professionals are built primarily on hard skills. If you were to “google” the competencies and/or requirements of a senior risk or compliance executive, you will be greeted with a list that includes a detailed awareness of regulatory requirements, risk assessment capabilities, and

Three essentials for risk management to succeed

BY DEREK SMITH strong analytical and problem-solving skills.

CUNA Mutual group noted: “The role of the compliance officer is changing, and finding staff with the right skills is a higher priority than ever before.

A critical component to managing all of the complex regulatory changes will be

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necessary and steep. Both maintenance and upgrades are necessary, but you can opt for WordPress or another content management system that offers maintenance and upgrades by a click of a few buttons.

Unique Exclusivity is special if your aim is to stand out from the rest, but not so unique that it breaks all rules and your stunning site ends up being a confusing experience. Following web conventions and usability rules is the ultimate guide to navigating quickly and easily. If broken it may confuse customers or visitors.

For example, logos are usually found in the top left of a site, and navigation bars are usually found below header areas. What happens? Your website becomes ineffective, all in the name of being overly exclusive.

Design is not just Photoshop, it is psychology This is a big deal. The secret to a great website is not in having pretty designs with a bit of throwntogether content. The real secret is in the psychology of consumer behaviour. It

is important that a designer understands colour psychology and the associations that people make with specific shades and tones.

It is vital to know which imagery will appeal to certain types of customers and why. What is going on in their minds while navigating your site? Is blue or deep red the better choice?

What emotions will the site create? Understand that the goal is to influence a visitor’s psychological state of mind and perception of your business and much more.

In conclusion, it is my belief that if designers or marketing administrators are skilled in distinguishing human behaviour, meaning what makes customers take action and why they react to different elements, they can then incorporate more persuasive strategies into a website. Outside this knowledge, a designer will create websites that capture no interest and yield absolutely no sales whatsoever.

The effort must be to direct sales, and never to influence beauty or splendor. Until we meet again, fill your life

with memories rather than regrets. Enjoy life and stay on top of your game.

NB: Columnist welcomes feedback at deedee21bastian@gmail.com ABOUT COLUMNIST: Deidre M. Bastian is a professionally-trained graphic designer/ marketing co-ordinator and certified life coach with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.

finding competent compliance staff and giving them the tools and resources to upgrade their skills and influence.”

On the contrary, soft skills may include efficiency in communication, presentation, professionalism, time management and teamwork. Organisational and individual excellence will only be achieved if soft skills are taken seriously.

In a world dominated

by COVID-19, I submit that although hard skills are critical to the risk and compliance role, the new and improved compliance officer must have a balanced combination of technical aptitude while being equipped with multi-faceted soft skills to navigate the regulatory environment; money laundering threats; potential corruption; and the heightened anxiety of colleagues.

Here are three essential skills if risk and compliance professionals are to succeed.

Let creativity shine I attended a meeting of The Rotary Club of Southeast Nassau earlier in July where the guest speaker was Rosena Duncanson.

This forward-thinking, risk advisory senior manager at Deloitte and Touché delivered her entire information security presentation through a beloved game that all were acquainted with – Jeopardy. This uncommon and creative approach made the subject matter digestible while encouraging independent thinking, audience participation and group learning. Risk and compliance professionals must not limited themselves

to PowerPoint-only presentations during training, but embark on new ways to engage and impart knowledge.

Emotional Intelligence This skill is considered one of the most-needed soft skills of 2020. Emotional intelligence is defined by the Economic Times as a person’s capability to manage and control his or her emotions, and possess the ability to control the emotions of others as well.

In other words, they can also influence the emotions of other people. Since a risk and compliance professional is considered a leader within a company, the elements of this skill include self-awareness, self-regulation, motivation, empathy and social skills.

These are highly-prized as you attempt to balance articulating regulatory needs and pressures with the reality of employees and employers trying to cope with the “new norm”.

Risk and compliance professionals must create an environment where people feel it is safe to discuss ethical concerns that would enhance the quality of their reporting of potential breaches. This skill directly impacts the tone of the compliance regime.

Civic involvement There are so many options such as Rotary, fraternities, sororities, Kiwanis, Lion’s Club, Toastmasters and more. You may ask: How is this a soft skill?

The ability to collaborate, be a team player, communicate effectively and lead are all soft skills required of a risk and compliance professional. Getting involved

in civic organisations helps with all of the above, and provides a safe place to learn, develop and grow without the pressures associated with employment. I chose fraternity and Rotary.

Both afford its members opportunities to enhance negotiation skills, public speaking skills and conflict management without the threat of a regulatory fine or regulatory penalty.

Conclusion The new risk and compliance professional must think outside the traditional box. The importance of a risk and compliance professional in a company is sometimes undervalued, but can bring enormous value.

This year has taught us that if we do not pivot, we will perish. The risk and compliance professional can be challenging but an exciting and rewarding one, depending on your perspective. We have the task to either add value and minimise anxiety for our stakeholders, or add red-tape, confusion and additional stress.

NB: Derek Smith Jr is a compliance officer at a leading law firm in The Bahamas, and a former assistant vice-president, compliance and money laundering reporting officer (MLRO), at local private bank. His professional career started at a ‘Big Four’ accounting firm and has spanned over 15 years, including business risk management, compliance, internal audit, external audit and other accounting services. He is also a CAMS member of the Association of Certified Anti-Money Laundering Specialists (ACAMS).

Hardware suppliers see minimal storm business

Business: “There has been a trickle. There has been no rush of business, not in that [hurricane preparedness] area, but there has been a trickle and nothing really significant.

“That’s normally how it works.

Everybody waits until the last minute because I think they don’t anticipate this storm being very intensive, and people are not taking it seriously I guess. But we have not seen an increase in hurricane business, to be honest with you.”

Anthony Roberts, the City Lumber Yard’s general manager, said: “So far we have only seen

minimal activity that I would directly relate to a hurricane in some of the hardware-type items like barrel bolts and those sorts of things. A little bit of plywood, but so far I have not seen any surge in that respect.

“Everyone is watching really closely. Where it is not a hurricane yet, and there is still a little bit of time, people have adopted a wait another day and see. That’s my take. I don’t think there is any country that is touchy about hurricanes like The Bahamas is right now, and with everything else going on we can sure use a pass.”

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net HARDWARE and building materials suppliers yesterday reported no increase in business despite the weekend tropical storm threat posed by “potential cyclone nine”.

Brent Burrows, CBS Bahamas (Commonwealth Building Supplies) general manager, told Tribune

The Art of Graphix

BY DEIDRE M BASTIAN

THE TRIBUNE

Thursday, July 30, 2020, PAGE 3

SUPER VALUE CHIEF: DO YOU KNOW OF CLOSURES?

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

Bahamas bids to secure $9m in UK exports trade

SUPER Value’s president yesterday questioned whether consumers are aware that the government has mandated all food stores must close on Sunday and Monday to help counter COVID-19’s spread.

“Does the public realise that we are closed on this upcoming Sunday, and for the Monday holiday for the lockdown?” Rupert Roberts asked, questioning the logic behind the government’s move. “I didn’t realise that until a couple of hours ago. Everything is locked down. The order wasn’t very clear, and what it says is when we can stay open, but it doesn’t say when we should close. That should be clear.

“One of my employees brought the order to me, and said to me that we are closed on Sunday and Monday. I said: ‘No, that can’t be’, but they brought the order to me and the order says we can stay open on those days up until, but then I thought it should have been made very clear that Sunday and Monday we need to close.”

Mr Roberts said this would produce a Saturday rush to the food store and make it more difficult to maintain COVID-19 health protocols. “So that’s going to create a challenge for us to keep social distancing, and they know that because we have kept complaining,” he added.

“They know that that’s a problem, but if it becomes a problem that we can’t handle then I will call in the police and ask them to give us some help. I would have to go through the Prime Minister’s office to get that.”

A spokesman from the Prime Minister’s Office confirmed that all food stores must close on Sunday and Monday due to the

THE government yesterday said it was aiming to secure almost $9m worth of annual Bahamian exports to the United Kingdom (UK) by ratifying a trade deal before year end.

Cabinet ministers and trade officials met with representatives from the British High Commission in Nassau earlier this week to progress talks aimed at securing - and expanding - access to the UK market for Bahamian exporters This will be secured by The Bahamas’ ratification of the CARIFORUM-UK Economic Partnership Agreement (EPA), which was signed in London in 2019 by this nation and other Caribbean states.

This agreement was made necessary by Brexit, or the UK’s departure from the European Union (EU), which means it is no longer bound by that bloc’s separate EPA trade deal with The Bahamas and wider region.

The meeting was hosted by the Elsworth Johnson, minister of financial services, trade and industry and immigration.

Others present included Carl Bethel QC, attorney general; Deborah Watson, director of financial services; and the newly-appointed director of trade, Brickell Pinder. Sarah Dickson, British High Commissioner, was accompanied by Jerusa Ali, political attaché, on the UK side.

The UK EPA contains the same tariff and services commitments that were negotiated initially in the CARIFORUM-EU agreement to which The Bahamas remains a party. It commits the UK to provide immediate duty-free, quota-free access to the UK market for Bahamian exporters.

Data from the UK’s Revenue and Customs Department showed trade between The Bahamas and UK amounted to £370m in

RUPERT ROBERTS government’s latest emergency orders. “Yes. In the statement released yesterday it states that food stores may open on Saturday,” they said. “It doesn’t say anything about Sunday and Monday because it doesn’t apply to those days.”

Mr Roberts, meanwhile, said Super Value had seen no major rush of customers seeking to stock up ahead of the weekend arrival of “potential cyclone nine”, which is forecast to be a tropical storm when it reaches Bahamian waters.

“Business has definitely picked up, but I don’t know if it’s the lockdown or the panic shopping from the hurricane, as there is just no way to tell. But one way or the other it would have been the same shopping and they are just combining the two,” he added.

Cyril Carey, general manager of Kenneth’s food store on Prince Charles Drive, said: “No. We haven’t been seeing anybody coming in to prepare for the hurricane yet. I guess people have their fingers crossed.

I think people are just getting their pay cheques now, so we will have to see what today holds. For yesterday morning so far, I haven’t seen any change yet.”

Bradley Rolle, assistant manager of Centreville Food Market, said: “I haven’t been seeing a bump in sales. Sales have fallen off tremendously.

Even when we have these lock down periods, people trickle in like on Friday and get their items and then that’s it. Nothing major.”

FROM left: Carl Bethel QC, attorney general; Sarah Dickson, British high commissioner; Elsworth Johnson, minister of financial services, trade and industry and immigration; Brickell Pinder, director of trade; Shane Miller, deputy director of legal affairs; Deborah Watson, director of financial services.

2017. In 2018, Bahamian these unprecedented times. I exports to the UK were know the partnership agreevalued at $8.7m, making the ment is one step towards UK the fourth largest market increased bilateral trade.” for Bahamian exports, The government is according to The Bahamas’ seeking to complete the Department of Statistics. domestic ratification of High commissioner Dick- the CARIFORUM-UK son said: “It was excellent to EPA by December 2020. be able to discuss the trade It will engage in in-depth relationship between the discussions with the UK’s UK and The Bahamas. Both regional trade team in countries’ private sectors will upcoming weeks. Bahamian need a strong government business owners will be able focus to support business in to attend virtual events to

provide input into these talks and inform the EPA ratification process.

“Facing the global pandemic, the accompanying economic crisis and the ongoing climate crisis, the government is looking to strengthen the trading relationship between The Bahamas and the UK,” said Mr Johnson.

“To help drive and expand this trade agenda, we have brought on a new director of trade. With her focus on stakeholder engagement and the inclusion of new sectors like the conceptual and creative economies, the ratification of this EPA will result in new opportunities for Bahamian businesses.”

The CARIFORUM-UK EPA was signed in London in 2019 by Ellison E Greenslade, The Bahamas’ High Commissioner to the UK, on behalf of the government.

PAGE 4, Thursday, July 30, 2020

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INSURERS SEE NO MAJOR HURRICANE COVER RISE

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Bahamas Insurance Association (BIA) yesterday said there has been no “appreciable increase” in persons buying home insurance in the aftermath of Hurricane Dorian’s $3.4bn economic blow.

Anton Sealey, the association’s chairman, told Tribune Business: “I would not say that we have seen any appreciable increase in the take-up of home insurance coverage post-Dorian.

There has been a limited number of individuals who, prior to Dorian, opted not to include hurricane as a part of their coverage and have now added that specific peril. However, there is not a significant amount doing so, particularly in the Family Islands.

“This, I think, is driven by economics more than anything else. As you can imagine reinsurers, following a loss of the magnitude of Dorian, found it necessary to increase premium rates and this poses a significant challenge to homeowners, particularly in the Family Islands. This has now been compounded with the current pandemic and the resultant effect on the Bahamian economy.”

Last September, BIA director, Timothy Ingraham, said “anywhere from 40 percent to 50 percent of the persons in the [Dorian] affected areas are uninsured, and some 75 percent are underinsured”.

The credit ratings agency, Moody’s, said 60 percent of homes damaged by Dorian were not fully insured.

Mr Sealey, though, added that second homeowners

on Abaco were driving demand for contractor’s allrisk insurance coverage as they began to rebuild and restore their properties in earnest post-Dorian. But, when it came to business interruption insurance, he said “there has not been the demand for this coverage that we would wish to see”.

Patrick Ward, Bahamas First’s president and chief executive, echoed Mr Sealey by saying: “What we have seen is an increase in the brand of business we call contractors all-risk cover, where principally clients are engaging contractors to do repairs or do replacements.

“So they buy what we call contractor’s all-risk cover to facilitate the insurance requirements during the period until such time as the repairs are completed, and then it reverts back to

a normal policy. We have seen quite a number of those policies, which would indicate that there is a significant amount of activity to rebuild or repair homes that would have been damaged in Abaco.”

Mr Ward then added: “It is difficult to say that we have seen an increase (in business interruption insurance) because I think what has happened is, because a lot of businesses were shut under the COVID-19 orders or under the mandates of COVID-19 and not operating at full power, or didn’t have employees available to operate their business, some of them have just basically shuttered their operations.

“So I think the demand for business insurance has been sort of dampened by the COVID-19 scenario more than anything else. Businesses that have to protect their properties will make sure that they have the appropriate cover, but on the other hand if you don’t have any incoming revenue it might be difficult to do that. People are going to have to make a case-bycase judgment on that.”

Urging the value of preparation, Mr Ward said “taking the extra precaution before the storm hits can make the recovery process go a lot smoother, and I think anyone that has lived through Hurricane Dorian will know the value of that”.

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‘Show me the money’ on digital permit plan FROM PAGE ONE developments amid the COVID-19 pandemic.

Should Mr Bannister’s ambitions be achieved, time, costs and uncertainty would be reduced and/or eliminated, and job-creating growth and development spurred and encouraged.

However, Bahamian professionals, while enthused

by Mr Bannister’s comments to this newspaper, said they had heard such automation and digitisation promises made repeatedly by administrations over the past three decades only to never come to fruition.

Gustavus Ferguson, the Institute of Bahamian Architects (IBA) president, recalled a workshop held last year with all construction industry stakeholders where the Ministry of Works had promised to move ahead with the plans outlined by Mr Bannister only for them not to materialise.

“Show us the money,” “Mr Ferguson told Tribune Business. “It’s better for him to show us than say it will happen. That the worst thing with that ministry (Works). It doesn’t seem like they believe in timelines. It’s hard to get timelines from them.

“All administrations for close to 25 years have been talking about implementing an electronic system there, and they’re still talking about it today. In hindsight, the pandemic may have forced it out of the government. I’m hoping that’s the case.

“We did research on the system they need in terms of the cost to implement it, and at the low end it comes out to about $50,000. We can begin from $50,000 and

up. It’s one way to streamline. I’m sure all the clients will be happy and the practitioners will be happy,” he continued.

“There’s no need to wait for four to six months for approval on simple residential construction. You have approvals that are granted in a day in major US cities.

Residential projects are granted approval in a day.

Regionally, you have some jurisdictions that grant it in one week or two weeks.”

Mr Ferguson added: “I know of projects I had whereby because of the extended period of time it took to approve them they actually died. I can probably say that for all architects in the country. I had a lot of projects that died waiting for approval and the whole economy is affected by that.

“We pointed that out to the minister [Mr Bannister] on previous occasions and the minister of finance [K Peter Turnquest] - the revenue being lost because of non-approvals and the time taken for approvals.”

Quentin Knowles, the Bahamas Society of Engineers (BSE) president, said in response to Mr Bannister: “That’s a good way of putting it: I’ll believe it when I see it. We’ve been talking about it for years.

Most modern jurisdictions have done it, and I think I can speak for everybody in construction, architects and engineering when I say we’d welcome this with open arms. Without a doubt.”

He explained that the manual permitting process was especially problematic on major projects when multiple engineers and architects had to submit up to three copies of drawings and plans that could require up to 150-200 sheets from each consultant.

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Thursday, July 30, 2020, PAGE 5

Magistrate’s Court targeting August 4 for full resumption

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Chief Justice yesterday said the Magistrate’s Courts will resume full operations, inclusive of filing claims, the issuance of summonses and the setting of new court dates, on August 4.

Sir Brian Moree QC, pictured, told Tribune Business: “We have set a date for August 4 for the resumption of all services at the magistrate’s court, inclusive of filing claims and the issuance of summonses and the setting of new court dates.”

Attorneys had previously complained about not being able to file summonses, and how the inability of the magistrate’s court to set new dates as a result of COVID19 precautions had impacted the legal profession and industry.

The Supreme Court, on the other hand, has resumed

Fishermen fear 40% crawfish price slump FROM PAGE ONE “I think that the conch spoilage is really only a factor for folks that sell conch on the side of marinas and on the side of the road,” he added. “So there is going to be some conch poisonings going around, and that may impact demand for sure, but in terms of the larger commercial operations that go out and get skinned conch, or bring conch back to land in shell in mass, that’s not going to be so much of a problem.

“The big conch fishermen aren’t going to bring shell to dock if they know they are not going to be able to sell it.They are just going to leave it out on the seabed. But the skinned conch operators will still be functioning because they skin and they freeze, so they just store it in the freezer and sell them to the seafood houses, and the seafood houses just store it in their freezers. But, of course, they are probably getting the low end of this price spectrum as well.”

Mr Mailis also encouraged the government’s policy of allowing fishermen to be

operations and has opted to use electronic means for conferencing and hearing cases.

Documents can also be filed at the Supreme Court registry. ‘ Sir Brian explained that more persons attend the magistrate’s court than the Supreme Court, making it more difficult to observe social distancing and other COVID-19 protocols.

Cases on the Magistrate’s Court roll have continued, and several persons have been arraigned over the past few months. exempt from the COVID19 shut down orders ahead of the August 1 season start.

“We want as many Bahamians working on fishing boats as possible, and de-prioritise granting work permits for foreign divers, because this is a time when Bahamian labour is needed most,” he argued.

“Everything is going as if nothing has changed and it just can’t continue this way.

We have been advocating for 25 years to make this industry for Bahamians only, and there are still foreign fishermen working on Bahamian boats.

This is horrible. The Fisheries Act is before Parliament and it needs to be passed.”

Keith Carroll, the former Bahamas Commercial Fishers Alliance (BCFA) vice-chairman, said of likely crawfish prices: “We don’t have the slightest idea.

We don’t know, but we are hoping that the price would be good so we can make something. We don’t think we will get the price that we got last year.

“I think it may be less, but we are not sure. For the persons that buy our lobsters, they don’t know either. I just hope that we have a good season and that the price is good so we can make some money.”

Real estate president clarifies market’s state THE Bahamas Real Estate Association (BREA) yesterday waded into the mixed assessments of the industry’s strength following its emergence from COVID-19 lockdown.

The association moved to bring context and perspective as some brokers, agents and firms argued that COVID-19 complications had crippled the real estate market, while others declared that interest in Bahamian property, especially as measured by online searches, had never been greater.

“Real estate continues to be a critical driver of the Bahamian economy,” said BREA president, Christine Wallace-Whitfield.

“We believe that the value real estate and development bring to the Bahamian economy are second only to tourism, so to say that the real estate market has suffered as a result of COVID-19 complications is simply a reflection of the realities of the pandemic operating conditions in the same sense that the hotels have a lower occupancy rate.

“Real estate offices were required to close and just reopened a short while ago. Law firms that handle closings were themselves closed for non-urgent matters. Lending facilities and government departments relevant for transactions were operating at limited capacity.”

Those conditions along with the aftermath of Hurricane Dorian, which depleted the industry’s Multiple Listing Services (MLS) inventory of many Abaco and Grand Bahama listings, contributed to a 30 percent reduction in transactions via that system

during the 2020 first quarter, she said.

“The positive news is that we have received reports from a number of agencies that the spike in online searches has been remarkable,” said Mrs Wallace-Whitfield. “People are looking for a safe haven where they can lease a home, use technology to operate remotely and feel secure.

“Once here, those people may look for longer term investment opportunities.

It is a win-win, generating immediate and prospective revenue. The important thing now is to look at our prospects long-term. We definitely believe there will be bright light at the end of the tunnel. We feel activity will rebound as the pandemic declines, and Bahamas real estate will continue to hold a very special kind of magical appeal for us locally and for a sophisticated worldwide market.”

One Exuma-based broker, who BREA did not identify, said she had three pending sales “all based on online searches, but the people can’t get here to see the property. Each one is so serious they are willing to offer a deposit to hold the listing”.

“Like other industries, real estate is reinventing itself to navigate uncharted waters. We are very proud of our agents and brokers, who are continuously sharpening skills at creating 3D virtual tours that would compete with the finest anywhere in the world,” said Mrs Wallace-Whitfield, who was recently re-elected for a fourth term.

“They are using social media and technology, and creating personal touches that make people feel they

NOTICE of VOLUNTARY LIQUIDATION Pursuant to the provisions of Section 138 (4) of the International Business Companies Act, 2000 of the Commonwealth of The Bahamas, Notice is hereby given that:-BITVO GLOBAL Inc. is in Dissolution; the commencement date is 30th day of July 2020 and the Liquidator is Vincent L. King c/o BPMSL 13 East Bay Street, (P.O. Box SS19743) Nassau, Bahamas.

VINCENT L. KING - Liquidator

are at home in The Bahamas as well as using their websites to keep people informed about the latest rules and policies.”

The BREA chief said there has also been a strong response to its webinar invitations.

“Given the economic uncertainty, it is not surprising that we have seen a 50 percent decline in new listings of properties for sale or rent,” she added.

“People are staying put, digging in their heels and waiting it out. We applaud government for controlling the virus for so long and look forward to working with them to devise new policies to boost the economy.”

CHRISTINE WALLACE-WHITFIELD

One such policy appears to have received a positive government response – the one-year residency to work remotely in an individual’s own business, a vehicle that has already netted success for Barbados.

PAGE 6, Thursday, July 30, 2020

BPL: 90% of arrears clients still face cut-off

FROM PAGE ONE

faced with disconnection.

This has now expanded to 1,047 delinquent BPL customers who were $500 or more in arrears since April 1 (488), plus those who were on the government’s three-month COVID-19 bill deferral (599).

BPL yesterday said all three customer groups owe it a collective $46m,

with $36.914m due from those based on New Providence and $9.084m from Family Island consumers.

Some 1,048 New Providence customers, and 263 in the Family Islands, were reported to have agreed payment plans that were accepted by BPL as of yesterday.

The situation represents a crisis for both cash-strapped BPL, which needs to collect every cent

THE TRIBUNE it can to keep the lights on, and those customers threatened with disconnection given that many will likely have lost jobs, income and/ or business due to COVID19. Business customers represent 2,179, some 17.5 percent or one in six, of those threatened with disconnection.

The remainder, numbering almost 10,000, are Bahamian households and individuals. Reiterating his previous call for those in difficulty to reach out to BPL rather than “ignore the bill”, Dr Moxey said disconnections remained a last resort and an option BPL does not want to pursue.

Yet he added that BPL needed to cover its staff, fuel and other expenses if it was to keep supplying electricity nationwide, and said “it makes no sense to put a customer deeper into debt” by allowing them to consistently make zero payments on their monthly light bill.

Arguing that BPL did not want to cut any customer’s energy supply off, Dr Moxey nevertheless said “there has to be a balance” between consumer needs during a time of extreme hardship and the utility’s ability to sustain itself.

Indicating his and BPL’s disappointment that so few have stepped forward to make payment plans to-date, he told Tribune Business: “Obviously we’re certainly open to working with our customers to make payment arrangements.

“Given the numbers eligible for disconnection, which I believe is around 12,400 customers, the less than 2,000 making payment arrangements is less than 20 percent of the total.”

In fact, BPL’s data shows just 10.5 percent of those threatened with cut-off had worked out a payment plan with BPL. “For us the main message is that we want to work with customers. We hope they come in and take advantage of these payment plans,” Dr Moxey added. “We recognise it’s tough times for customers, and are willing to work with them. We’d like the customer to be proactive but, at the end of the day, as BPL we have to pay our own bills.”

Arguing that it was unsustainable to allow businesses and households to incur debt they would never be able to repay, he said: “If a customer is in arrears, to make sure they don’t rack up a bill we have to cut-off the service and flow of electricity...

“It makes no sense to put customers deeper in debt.

We want to understand the customer’s situation and work with them. It makes no sense for anybody to keep on increasing the bill without having some payment arrangement on it.

“What we want to do is limit the impact on them financially. We don’t like to cut-off anybody, but there has to be a balance there.

BPL cannot continue to do that [keep delinquent payers’ lights on] and make it sustainable,” Dr Moxey continued.

“We’re a national utility charged with providing an essential service, and to do that we have to collect revenues on bills that we send out for providing the service. Rather than ignore the bill come into us and work out a payment plan.”

Given the numbers still threatened with disconnection amid COVID-19’s hardship, and the potential ramifications for BPL’s financial position, the government may well be forced to step in and help bolster the utility something that Desmond Bannister, minister of works, last week indicated it may have to do.

The disconnection of more than 11,000 households and businesses would

likely have far-reaching social (and political) consequences at a time when The Bahamas is suffering the brunt of COVID-19’s health and economic fallout, meaning it will not be an outcome desired by any government.

However, Dr Moxey said no Bahamas-based entity could afford to ignore a $46m debt owed to it.

“That’s quite a significant amount of money for any company in this country no matter who you are,” he told Tribune Business.

“We would have to find ways to pay our bills, and the only supporter of BPL is the government, but the government has other responsibilities as well.

We don’t want to cut anybody off, but there comes a point where we have to recognise a bill is not being addressed consistently and being allowed to go up. It’s one of those challenges we seek to avoid where we can.”

Some, though, would likely argue that BPL should shoulder the COVID-19 fall-out given the high-priced, poor reliability it has provided in recent months and years with the daily island-wide load shedding and blackouts of last summer still fresh in the memory of many consumers.

While there has been improvement for summer 2020 to-date, Abaco residents and businesses have experienced the same problems consistently over recent weeks due to generation challenges on the island.

THE TRIBUNE

Thursday, July 30, 2020, PAGE 7

Insurer: We can’t raise premiums indefinitely FROM PAGE ONE

larger share of the repair and restoration costs should a hurricane or some other disaster strike.

The ICB chief also revealed that hurricane coverage typically accounts for two-thirds of all Bahamian property insurance premiums, which made the development of a less-costly product offering consumers some storm protection increasingly imperative.

“There are options available to customers, such as taking a larger deductible to reduce their premiums but, at the end of the day, we want to give the customer a product that gives them some level of decent protection,” Mr Duff told this newspaper.

“The hurricane component of your overall property premium is about two-thirds. That’s a big chunk of change for homeowners to fund, especially in this period of economic depression. It’s how we look at that as an industry and come up with a product to give them some cover rather than have them drop coverage altogether.

“This is what we have to look at, individually and collectively, and see what we can do. We don’t want another hurricane where 50 percent of people on the island have no insurance.

These are the challenges for all of us here,” he added.

“The overall challenge presented by COVID-19 is how is this going to affect insurance premiums as the economy gets further and further squeezed. There’s

the prospect of people having to make tough decisions. We’ll do our best to come up with a product for our customers and we have to persuade them they can’t go without hurricane cover.”

Lenders typically require borrowers whose loans are secured by property mortgages, both business and commercial, to take out full comprehensive hurricane insurance as a condition for advancing the money. When borrowers fail to do so, the lender often steps in and pays the premiums itself, adding the cost to the sum owed on the mortgage.

Mr Duff, meanwhile, said 2020 was proving “definitely the most challenging year by far, no question” of his 25-year tenure with ICB due to the fall-out created by the COVID-19 crisis and lingering impact from Hurricane Dorian.

“The concern for the industry would be the general economy, and where it goes from here,” he explained. “Without the tourism income coming into the country, how does that translate into loss of disposable income for many people.

“That would be the challenge for the industry. How do we cope with that, and how will that impact our premium levels. I suspect we won’t really know until much later in the year, probably towards the end of the year.

“We’ve gone through the period when customers were in lockdown, getting back up to speed and dealing with the backlog we had with premiums. That was the first phase of the challenge.

The next challenge is what

happens in the second half of the year as the economic crisis kicks in in real terms,” Mr Duff continued.

“It doesn’t look as if there’s any quick turnaround in the US. That means in all likelihood we are not going to see any major return of US tourists between now and the end of the year. We can all say that the second half of the year is going to be very difficult economically for the country, and it is going to have some impact on insurance companies for sure.”

Mr Duff’s prediction was echoed by Bruce Fernie, chairman of ICB, which is the carrier through which JS Johnson places much of its property and casualty business. Writing in ICB’s 2019 annual report, he warned that COVID-19’s impact on The Bahamas will be “huge” at every level.

“Once the immediate health crisis has been averted, government will face the enormous challenge of rebuilding the economy.

For the next 18 months or so, Bahamian general insurers will likely be forced to operate in a severely depressed economic environment,” Mr Fernie wrote.

“Individuals and businesses may have to confront a new economic reality where disposable income is scarcer than at any time in the recent past. In this new context, the general insurance industry is going to have to work tirelessly to persuade customers of the importance of securing their assets through the purchase of insurance.”

To advertise in The Tribune, contact 502-2394

PAGE 10, Thursday, July 30, 2020

THE TRIBUNE

Bahamas First closes $4.28m premium ‘gap’ FROM PAGE ONE against Bahamas First’s expectations, causing them to be down by $4.276m at $38.853m compared to the $43.13m projected in

the insurer’s budget. However, Mr Ward said it had managed to catch up in the second quarter as the easing of lockdown restrictions enabled persons to visit their agent/broker and make payment.

NOTICE NOTICE is hereby given that NITHA PIERRANT, West Avenue, Nassau, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30thth day of July 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

“It was more to do with the lack of access,” the Bahamas First chief said of the failure to meet premium expectations. “It was related to the shutdown, but more to do with access. What we found in the second quarter was a lot of that gap was effectively eliminated in terms of premium that came in compared to what we experienced ourselves in the prior year.

“We were almost entirely shut down from doing any transactions. A lot of people, although they could have explored going online, wanted to come in and make the payments physically. We were, though, expecting some fall-off in business. There are some clients who did not have renewals because they’re property was destroyed or damaged beyond repair, in the case, of vehicles, by Dorian.

“But at this point there’s nothing that would indicate we’re much further behind where we thought we’d be at this point in the year.”

Bahamas First’s net underwriting income for the 2020 first quarter was also down against expectations, standing at $7.175m compared to a $7.249m projection.

Total operating expenses, though, came in some $458,821 lower than the $7.005m budgeted, which Mr Ward said was another side effect of the COVID19 lockdown which “eliminated a lot of activity” that Bahamas First had planned in late March.

However, the property and casualty insurer’s $891,280 net loss for the 2020 first quarter was some $1.57m lower than its internal budget forecast, which had projected a $678,753 profit.

The company’s total comprehensive loss of $919,139 was also some $1.538m below expectations of a $619,762 positive return.

Compared to the 2019 first quarter, Bahamas First’s total comprehensive income was off by $1.095m when set against the prior year’s $175,863 bottom line.

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned.

YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides.

Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property.

This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home.

We look forward to your continued support in this worthwhile endeavour.

MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100

CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus

OPPORTUNITIES • • • •

Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters

BENEFITS

• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

THE TRIBUNE

Thursday, July 30, 2020, PAGE 11

AS VIRUS AID TALKS STALEMATE, TRUMP SCORNS HELP FOR CITIES

To advertise in The Tribune, contact 502-2394

WASHINGTON Associated Press

PRESIDENT Donald Trump, pictured, yesterday dismissed Democratic demands for aid to cashstrapped cities in a new coronavirus relief package and lashed out at Republican allies as talks stalemated over assistance for millions of Americans. Another lawmaker tested positive for the virus.

Republicans, beset by delays and infighting, signaled a willingness to swiftly approve a modest package to revamp a $600 weekly unemployment benefit that’s running out.

But House Speaker Nancy Pelosi, D-Calif, roundly rejected that approach as meager, all but forcing Republicans back to the negotiating table. Without action, the aid expires Friday.

“We’re nowhere close to the deal,” said White House chief of staff Mark Meadows. He said they’re “miles apart.”

Stark differences remain between the $3tn proposal from Democrats and $1tn counter from Republicans, a standoff that is testing Trump and Congress ahead of the November election and putting aid for communities nationwide at risk.

Pelosi said the best way to reopen schools and the economy is to defeat the virus, and that can’t be done with the “skinny” bill Republicans are rushing to cobble together. “They still don’t get it,” Pelosi said.

The virus toll continued to mount in the US, with 4.4 million confirmed cases and deaths passing 150,000. Outspoken Rep Louie Gohmert, R-Texas, who often objects to maskwearing, became the latest lawmaker at the Capitol to test positive for the virus.

Money for states and cites is a crucial dividing line as local governments plead for help to shore up budgets and prevent deeper layoffs as they incur COVID-19 costs and lost tax revenue in shutdown economies.

Trump complained about sending “big bailout money” to the nation’s cities, whose mayors he often criticises.

“It’s a shame to reward badly run radical left Democrats with all of this money they’re looking for,” he said at the White House.

Democrats proposed nearly $1tn for the local governments, but Trump and Republicans are resisting sending the states and cities more cash.

Instead, the GOP offers states flexibility to use $150bn previously allotted for the virus on other needs.

At one point this year, Senate Majority Leader Mitch McConnell, R-Ky, said states could just declare bankruptcy.

Governors and mayors who have been urging Congress to help warned that inaction would hit hard.

“If Congress fails to dedicate financial assistance to state and local governments, it will force deep cuts to the very programmes workers and families need to get back on their feet,” said Tara Lee, spokeswoman for Washington Gov Jay Inslee, a Democrat.

Most states have built up reserves since the Great Recession, but the pandemic stopped swaths of the economy in March.

Municipal cutbacks and layoffs began. By June, about 1.5 million fewer people were working for governments in the US compared with February, according federal data.

More than half the government layoffs have been in education, a sector facing daunting costs as schools prepare to reopen to students.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, NARISSA OLIVIA NEWBOLD, of Sandilands Village Road of Nassau, New Providence, The Bahamas, intend to change my name to NARISSA OLIVIA TAYLOR. 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 the publication of this notice.

Facilities & Maintenance Manager Position Facilities & Maintenance Manager needed for permanent, rotational island position. This is a month on/month off position, working 7 days per week while on island. Hours of work vary from day-to-day depending on daily requirements, but are a minimum of 10-12 hours per day.

This is a salaried position, without overtime. Hiring preference will be given to Bahamian applicants.

We are looking for an experienced, self-directed and self-motivated person to fill the position.

• Applicant must have a minimum 8 years experience and possess a strong skill base in Kohler/John Deere 280kw generators, have knowledge of control room operations, competence in both high voltage and electronic switching, and HVAC systems, and have experience operating sewerage treatment plants and fuel management systems.

• Applicant must be willing to multitask in preventative maintenance, operation and maintenance of all areas associated with above as well as with boats, outboards, wave runners and other sporting equipment, golf carts, associated vehicles, 2/ equipment, plumbing, operation and maintenance of heavy machinery, refrigeration equipment and watermakers.

• Must be proficient in Excel, or similar inventory program as required by management. Must have certification in first aid and a marine boat driving licence.

• Applicant will be required to work hand-in-hand with maintenance staff, training staff where required by management.

• Must have experience dealing with owners and guests while present on island; be poised, polished, professional, clean cut, no visible tattoos, non smoker and of sober habits. References of experience in this area will be required without exception.

•

Resume must be accompanied by applicable certificates, written work references for positions held and associated contacts. A valid police report will also be required. Additionally, applicant will be subject to in depth background check by international private security company.

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

TUESDAY, 28 JULY 2020

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,109.59 | CHG: 0.79 | %CHG: 0.04 | YTD: -122.01 | YTD%: -5.47 BISX LISTED & TRADED SECURITIES 52WK HI 4.20 22.65 2.00 1.79 2.50 6.00 6.75 5.47 8.59 4.50 6.16 12.77 3.64 5.49 10.88 8.44 16.99 4.25 9.40 15.21

52WK LOW 3.13 20.91 0.67 1.79 1.67 5.40 5.39 2.00 5.05 3.62 5.60 11.05 2.71 2.40 8.00 7.10 13.04 3.20 8.00 13.90

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Focol Finco J. S. Johnson Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Class A Focol Class B

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

52WK LOW 100.00 100.00

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

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SYMBOL LAST CLOSE AML 3.20 APD 17.43 BBL 1.62 BFH 1.79 BOB 1.67 BPF 6.00 BWL 6.75 CAB 2.99 CBB 5.05 CBL 3.90 CHL 6.10 CIB 11.26 CWCB 2.49 DHS 5.10 EMAB 10.10 FAM 8.44 FBB 14.30 FCL 3.99 FIN 8.97 JSJ 15.20 BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CLOSE 3.20 17.43 1.62 1.79 1.67 6.00 6.75 2.99 5.10 3.90 6.10 11.26 2.47 5.10 10.27 8.44 14.30 3.99 8.97 15.20

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.00 0.00 0.00 -0.02 0.00 0.17 0.00 0.00 0.00 0.00 0.00

1,100

250

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-7Y

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

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

VOLUME

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

VOLUME

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

YIELD 5.31% 7.23% 1.23% 0.00% 0.00% 0.00% 3.85% 0.00% 0.00% 3.08% 3.61% 6.39% 17.57% 1.18% 3.19% 2.84% 3.78% 3.01% 2.23% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.50% 6.25% 3.50% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2022

MATURITY

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

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.64 1.77 1.72 1.07 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.31 4.39 2.10 192.52 145.55 1.69 1.81 1.77 1.07 8.30 9.90 7.08 11.27 12.71 10.23 N/A 8.31 10.01

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

MARKET TERMS

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

YIELD - last 12 month dividends divided by closing price

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

Bid $ - Buying price of Colina and Fidelity

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

Ask $ - Selling price of Colina and fidelity

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

Last Price - Last traded over-the-counter price

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

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

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

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

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

N/M - Not Meaningful

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

Interested persons should submit resume and written references by email to:

revivalbaymanagers@yahoo.com

P/E 13.4 18.7 N/M N/M N/M N/M 18.3 -6.8 36.4 21.2 13.6 15.6 24.2 10.9 15.9 11.6 17.5 19.7 9.6 24.1

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PAGE 12, Thursday, July 30, 2020

THE TRIBUNE

The Medical Act 2014 The Medical Act 2014 and the Regulations connected therewith, established the Continuance of the Bahamas Medical Council, A General Medical Register and established a Specialist Register.

ii. He has completed two years of supervised rotational medical practice or has special training, experience and qualifications approved by the council.

The Bahamas Medical Council (BMC) Is a body corporate that:

iii. He can read, write speak and understand the English Language.

1) Registers and License persons who satisfy the requirements under the Medical Act 2014.

2) Regulate the standard of Medical Practice.

iv. He is a fit and proper person to practice medicine in the Bahamas.

Specialist Register 1) A Medical Practitioner shall be eligible to be registered and licensed as a specialist in the Specialist Register, where the Medical Practitioner satisfies the Council that he has completed the required tuition and training in a specialty and has obtained the relevant qualifications from an institution or body recognized by the council and relating to a specialty specified in the Third Schedule.

3) Prescribe codes of ethics and conduct for the guidance of Medical Practitioners.

4) Have such powers that are necessary to perform all of its functions under the Act. General Medical Register A person is qualified to be registered and licensed to practice Medicine and Surgery as a General Medical Practitioner and whose name would appear on the General Medical Register if:

2) A Medical Practitioner who is not registered as a specialist and who: a) Engages in the practice of Medicine as a Specialist or b) Represents that he is entitled to engage in the practice of Medicine as a specialist shall be guilty of Professional Misconduct.

a) He holds a Medical Degree, Certificate or other form of qualifications granted by a University, College or other Institute of learning recognized by the Council. b) Satisfy the council that: i. He has successfully completed the required period of internship in a hospital or medical institutions approval by the Council.

For further information please refer to The Medical Act 2014, The Medical Regulations 2014 both of which are available on the Council’s Website at www.bahamasmedicalcouncil.org.

The following is a list of physicians registered under Section 15 and licenced under Section 29(1) of the Medical Act, 2014 for the period ending 31st December, 2020.

Registration # 1541 1569 86 1171 964 735 1511 2 1503 1743 1262 418 719 250 1019 1101 1766 1010 1571 927 1230 492 1231 1646 1049 875 454 803 858 1573 629 1050 929 1676 760 1187 1326 1324 932 933 1480 81 1576 94 1894 1656 934 1355 501 1649 812 1346 1763 786 83 1923 1409 1222 1254 1093 1483 1378 108 59 1702 569 1364 1528 131 64 1484 888 166 1479 1338 1069 12 355 301 1229 1337 1631 469 1638 991 1684 951 1443 743 357 1336 1996 1380 1003 1388 1877 1583 1293 443 808 1028 1902 1584 1842 1852

Name ADDERLEY-COOPER, Etenesh ADDERLEY, James AGEEB, Gloria Edith AKAZIE, Ndubuisi ARCHER, Ian T. ARMBRISTER, Phyllis Marie BABOOLAL-JOHNSON, Rhea BACCHUS, Nizamuddin BAIN, Deanna BANNISTER, Kandis BARTLETT, Josephine BARTLETT, Tyrone BASDEN, Christopher Justin BENEBY, Glen BETHEL, Kevin Paul BETHEL, Kimberley Alean Marie BETHEL-MIMS, Tina BINARD, Marc BODIE, Charmaine T. BONIMY, Ingrid Marisa BOWE, Kevin BOYCE Jr., Franklin BRAYNEN-BENEBY, Margo A. BROOKS, Hesford BROWN, Lynwood BROWN, Martin BROWN, Rolston Eric BURROWS, Unna CAMPBELL, Susana B.C. CADRON, Burnell CAREY, Gregory CARGILL, Rodd CARGILL, Tyneil CARROL, Tamal CARTER, John CARTWRIGHT, Marissa CHARITE, George CLARE- KLEINBUSSINK, Rokeisha CLARKE, Christopher CLEARE, Charles COLLIE, Kelafo CULMER, Kirtland Rudolph* CULMER, Leonardo CULMER, Leslie Walpole CULMER, Randolph DAMALLIE-JONES, Indira DARVILLE, Michael DAVIS-MOXEY, Cherita DAVIS-DORSETT, Janet DAVIS, Riccardo DAVIS, Rickey Ricardo DEAN, Adrian DEVEAUX, Gerrad DONALDSON, Darren DONALDSON, Elwood DORSETT, Forrestall DORSETT, Juliette DORSETT-CARTER, Yvette DOWNS, Edward ENE, Inyang FERGUSON-CHARLTON, Chimone FERGUSON, Sherelle FERNANDEZ, Romeo FORTE-HANNA, Patricia Dorothy FOX, Jason FOX, Nicholas FRANCOIS, Albert GALLAGHER, Dawn GAY, Norman GERASSIMOS, Michael Murray GILBERT, Nadia GONZALEZ- DONALDSON, Teresa GRAY, Charles Eugene GRIFFIN-JONES, Yolanda GRIMES, Valron GRIMES, Valya GUINA, Reynaldo GUTAM, Mani HADDOX, Linelle * HALL, Dana Laurentiis HALL, Judith HALL-DENNIS, Nikechia HAMILTON, Roland HANNA, Tonette HULL, James HUMES-RAHMING, Netisha IGNACIO, Leo IJEOMA, Nneka ISAAC, Laurette JAGADEESH, Channarayapatna JOHNSON, Byron JOHNSON, Derwin JOHNSON, Hasting Washington JOHNSON, Lisa JOHNSON-BROWN, Marcia JONES, Javara JOSEPH, Madeleine JOSEY-DAMES, Kendra KAVALA, Mallikharjuna Rao KELLY, Ian KEMP, Clinton Franklyn KERR, Kyle KERR, Sergio KING-STRACHAN, Khia KNOWLES, Sean

Specialty General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner

Registration #

Name

Specialty

1715 973 1322 993 1445 942 1374 1626 1294 1587 1292 746 363 1845 747 1027 1381 1690 1055 1811 1084 319 1732 1263 1633 1007 1058 1242 174 1707 374 1288 986 1132 1217 1516 1352 1156 1356 946 1384 1195 120 537 1517 1328 996 2014 671 380

LIGHTBOURNE, Arlington LOCKHART, Renee MARSHALL-WILSON, Elsa Denise McKINNEY, Kevin McLEAN-MORGAN, Michelle McMILLAN, Pearl Denette McPHEE, Vernard Sinastro MESIDOR-THIMOTHEE, Yvette MILLER, Keir I. MINNIS, Akin A. MORGAN, Norad R. MOXEY, Mercianna Albertha MOXEY, Mortimer George MUNNINGS, Nevillina MUSGROVE, Kayla Heather NEELY-BARTLETT, Jillian Lesleyann NEELY, John NELSON, Deidre O’BRIEN, David Krishna OLIVER, Ketroya PANDEY, Virendra PARKINSON, Michael PENN-KNOWLES, Jacqueline PHILLIPE, Calae PIERRE, John PINDER, Gay Francine PRATT, Dorothea Philippa PRATT, Tanya Arlene PRATT, Wiona PROVIDENCE, Timothy RAJABABU, Sirra RAMNARINE- KNOWLES, Richelle RAO, Kolli RICHARDSON, Candice ROBERTS-CARTER, Rhonda Janice ROBINSON, Denielle RODRIQUEZ - CATALA, Mauo ROLLE, Adrian ROLLE, Antoinette ROLLE- DORSETT, Cindy ROLLE, Leviticus ROLLE, Steven A ROOP, Rasjah SANDS, Larry SAUNDERS, Franklyn SEALY, Philip SEARS, Raquel SEYMOUR, William SHARMA, Rudra SIMMONS, Horizal Alexander

1657 997 1591 716 1327 1414 998 1520 750 1642 1095 1354 1521 1185 1014 1021 1358 1652 1794 18 1737 1539 1297 1186 1000 1144 1523 2018 528 222 1329 832 841 710 1451 1453 1064 1387 1594

SIMMONS, Kevin SMITH-LAING, Patrice P. SMITH, Eugene SMITH, Sidney SMITH, Sophia SMITH, Thomas SPENCER-PRINCE, Mystee STUART-SMITH, Chandra STRACHAN, Cyprian Alexander STRACHAN, Danielle STUART-RAMTULLA, Abigail Aretha STUBBS, Lloyd SWANN-MILLER, Junilor SWANN, Phillip M. SWARNA, Ravindranath SWARNA, Shirin SY-CHEA, Betty THEOPHILUS, Eneia THOMAS, Gregory THOMPSON, Ada* THOMPSON, Jason THOMPSON, Nina THOMPSON, Eddison THOMPSON-MAJOR, Karis A THOMPSON-BRAHAM, Bernadette M. THOMPSON, SHERYL THURSTON-DORSETT, Dionne TURNQUEST, Darius TYNES, Brian Vincent VAN TOOREN, Richard WILDGOOSE, Charles Edward WILLIAMS, Drexel Paul WILLIAMS, Rochelle M.Y. WILLIAMS-LOCKHART, Susan WILLIAMSON, Deneil WILLIAMSON-MCPHEE, Nevillene WOODS- ISAACS, Dellareece WOODS-THOMPSON, Delecia ZONICLE-NEWTON, Samra

General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner with special interest in Obstetrics General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner General Practitioner

*honorary **inactive

The following is a list of physicians registered under Section 26(4) and licenced under Section 29(1) of the Medical Act, 2014 for the period ending 31st December, 2020.

Registration #

Name

Specialty

S1120 S1287 S1189 S2239 S1670 S1268 S2156 S304 S1531 S2511 S1009 S1774 S1624 S2132 S2133 S918 S1751 S502 S1807 S1525 S423 S238 S549

ABLACK, Omala Ann ADDERLEY- SANDS, Daphne ADDERLEY, Nicole ALBURY, Caryn ALBURY, Justin ALBURY-HARRIS, Kirstene ALLEN, Christian ALLEN, David ALLICK, Alphaeus M. AMATE, Sachin ANTONIO-COLLIE, Sheena AQUINO-AGEEB, Majorie ARCHER-CARTWRIGHT, Denotrah ARORA, Supriya ARORA, Tarun ASH, Duranda Mae BAIN, Darius BAIN, McKinley BAIN, Merrilyn BALANG, Zanele BARNETT, David BARRETT, Timothy Edward BARTLETT, Frank

S924 S342 S839 S21 S236 S1341 S1435 S321 S1172 S1618 S863 S1628 S1485 S825 S296 S1419 S1286 S1412 S427 S1285 S657 S662 S1283 S604 S513 S922 S346 S644 S840 S417 S1574 S550 S1667 S1438 S1051 S1575 S1067 S1216 S930 S931 S1312

BASSETT, Marcia Anne BENJAMIN-PEET, Evet BETHEL, Carla BETHEL, Marcus BETHEL –ETUCK, Pamela* BETHEL, Tanya BEVANS, Stacie BLOOMFIELD, Homer BODHA, Srinivasa BODIE, Shamanique S. BOWE, Dane BOWE, Dedrick BOWE, Saida BRAHAM, Richard BRATHWAITE, Alfred* BRENNEN, Delon BRIDGEWATER, Kiko BRIDGEWATER, Richard BROWN, Conville Samuel BROWN-CLARKE, Rashida BRUNEY, George Fidelis BURNETT-GARRAWAY, Caroline BURROWS, Paulus BURTON, Vincent BUTLER, Raleigh I. BUTLER, Sharmaine CAMPBELL, Winston McFarlane CAREY, Anthony CAREY-BULLARD, Chinyere CAREY, Reginald Kenneth CARGILL JR., Adrian CARGILL, Patrick Livingstone CARROLL, Pamela CARROLL, Shakera CARTER, Floyd CARTWRIGHT, Ianthe CARTWRIGHT-MUNNINGS, Tecora CATES, Charles Graham CHAMBERS, Carlton CHARLES, Lorne CHASE, Apryll

Internal Medicine Psychiatry Family Medicine Obstetrics and Gynaecology Family Medicine Internal Medicine Neurosurgery Psychiatry Emergency Medicine Radiology Internal Medicine Radiology Family Medicine Ophthalmology Ophthalmology Ophthalmology Family Medicine Internal Medicine Family Medicine Paediatrics Orthopaedics Psychiatry Internal Medicine and Paediatrics Paediatrics Paediatrics Family Medicine Internal Medicine Internal Medicine Radiology Family Medicine Obstetrics and Gynaecology Psychiatry Obstetrics and Gynaecology Orthopaedic Surgery Internal Medicine Obstetrics and Gynaecology Obstetrics and Gynaecology Pathology Paediatrics Anatomical Pathology Obstetrics and Gynaecology Internal Medicine Psychiatry Pathology Emergency Medicine Psychiatry Anaesthetics Obstetrics and Gynaecology Family Medicine Otorhinolaryngology Obstetrics and Gynaecology Family Medicine Obstetrics and Gynaecology Internal Medicine Internal Medicine Obstetrics and Gynaecology Family Medicine Internal Medicine Paediatrics Paediatrics Family Medicine Orthopaedic Surgery Obstetrics and Gynaecology Obstetrics and Gynaecology

THE TRIBUNE

Thursday, July 30, 2020, PAGE 13

Registration #

The following is a list of physicians registered under Section 26(4) and licenced under Section 29(1) of the Medical Act, 2014 for the period ending 31st December, 2020.

Registration #

Name

S545 S570 S1458 S1345 S2617 S168 S909 S1351 S1026 S192 S1505 S988 S1949 S872 S1274 S1110 S1278 S1469 S1177 S2145 S1855 S145 S1488 S1577 S1508 S1677 S347 S1502 S1302 S1343 S2642 S867 S601 S895 S1273 S628 S2355

CHEA, Williamson CHIN-CHEA, Christine CHISOLM, Terlika CHRISTIE, Kirk Christopher CHOUNG, Michael CLARKE, Nelson Alexander COLEMAN, Henry Joseph COMBIE, Eugenia A. CONLIFFE, Catherine CONSTANTAKIS, James Alexander COOPER, Bradia COOPER, Eugene Marcus COOPER, Melanie CORRALL, Rolando CURLING, Duvaughn Ellis CURTIS, Brendon CURTIS-DOWNES, Desdemona DAMALLIE, Kushna DAMES-RAHMING, Dionne Natasha DARLING, Robert DARLING, Vashti DARVILLE, Christina Elizabeth DARVILLE, Michael N’tari DARVILLE, Phyllis DAVIS-SALTANI, Antonelle DAVIS-SIMMONS, Ariane DAVIS, Austin Willard DAVIS, Kala DAVIS, Pavia DAVIS-HALL, Raquel DAWKINS, Gabrielle DE CASTRO-MACKEY, Graciela DE-DINESH, Chandra DE SOUZA, Pablo Jose DELANEY, Sean DEMERITTE, Edwin Leslie DESROSIERS, Laurephile

S1579 S349 S1347 S908 S1178 S802 S1440 S1279 S1360 S893 S1510 S1803 S978 S456 S389 S1053 S921 S1621 S1441 S1482 S589 S1011 S865 S1846 S1232 S1107 S1799 S1212 S1239 S990 S2363 S2250 S1477 S1316 S1078 S1103 S2245 S161 S1612 S1625 S208 S1415 S1109 S462 S878 S1280 S1179 S1339 S1825 S1054 S976 S850 S531 S1131 S894 S1734 S540

DEVEAUX, Don DIGGISS, Charles DILLET, John B. DONOHUE- DE SOUZA, Kathryn DORSETTE-WILLIAMS, Alexya DORSETT-HANNA, Ruth DORSETT-JOHNSON, Tiadra DOWNES, Ross DUPUCH, Laura Zoe DUPUCH, Leon Henry EDWARDS, Jessica EDWARDS-ROWLANDS, Janice EKEDEDE, Magnus O. ENEAS-CAREY, Agreta EVANS, Joseph Immanuel FARQUHARSON, Carnille Patrice FARQUHARSON, Delton FARRINGTON, Leander FERGUSON-SAUNDERS, Deshawn FERGUSON-PARKER, Sonali FERGUSON, Theodore FERGUSON, Wilfred FITZ-CHARLES, Colleen M. FITZ-GERALD, Latina FORBES, Nikkiah FORBES, Winston Fitzgerald FOWLER, Kenva FRANCIS, Bimal FRANCIS-PHILLIPS, Dorita O. FRANCIS, Wesley FREEMAN, Marc FRIEND, Zenna GAITOR, Bonji GALI, Saytha GARIKAPARTHI, Srikanth GASPAR, Ricardo GIBSON, Charlisa GIBSON, Robert GIRGIS, Nevein GOMEZ, Chrispin GOMEZ, Michael P* GONZALES, Maxine GRAHAM, Nina GRAMMATICO, Dino GRANT-TAYLOR, Ilsa Camille GRAY, Kamala GRAY-STUART, Sharmaine R. GREENE, Rana A. GREENAN, Timothy GRIFFITH-BOWE, Andrea GRIMES, Valentine Sebastian GUERRERO, Antonio HALL-WATSON, Mildred HALLIDAY, Darron HANNA, Alvery HANNA, Bernadine HANNA- MAHASE, Cherilyn Patrice

S573 S482 S1235 S2155 S1129 S1891 S1582 S413 S1281 S639 S1228 S718 S405 S2350 S523 S1637 S326 S1282 S1500 S1756 S1512 S1611 S1755 S1196 S68 S765 S123 S1444 S1145 S1400 S1265 S923 S905 S524 S335 S830 S1295 S525 S2033 S15 S592 S1515 S1635 S586 S233 S535 S539 S791 S1180 S1648 S298 S1296 S2255 S854 S1688 S514 S1653 S994 S1335 S1065

HENNIS, Paul Joseph Andrew HEPBURN, Nicholas HIGGINS, Jonathan HIGGINS, Mikhal HOLDER, Gertrude HOLLANDER, Charles HUMES, Terrel HUNT, Paul Barrington HUNT-BURROWS, Darbrielle IFERENTA, James Ikem Patrick INGRAHAM-WELLS, Valeria ITZA-MAJOR, Elvira JOHNSON, Charles Daniel JOHNSON, Dexter JOHNSON, James JOHNSON, Jansen JOHNSON, John JOHNSON, Ormanda JOHNSON, Shaneeta JOHNSON-MINNIS, Talietha JOHNSON, Valencia KELLINI, Osama KNOWLES-DEMERITTE, Charneca KNOWLES, Gaye KNOWLES, Kenneth* KNOWLES, Ronald George KNOWLES, Ronald Lockwood KNOWLES, Shantalasha KONDAPURAM, Dharmaveer KRISHNAMURTHY, Venkatagiri KUNZ, Angela LAVILLE, Estelle Joanna LEON, Frumentus LIGHTBOURNE, Jerome Warren LOCHAN, Steve R. LOCKHART, Halton Freeman LOCKHART, Charelle LYONS, Allan Vincent LUCAS, Charles LUNN, John* MACKAY, Flora MADISA, Segomotso MAJOR, Don MARSHALL-INGRAHAM, Rosetta McCARTNEY, Barrett Arthur McCARTNEY SR., James Roosevelt McDEIGAN, Gwendolyn McDOWELL, Ian Murray McINTOSH, Latesha McKENZIE-BOYD, Lashan McNEIL, Percival Bertram MENDES-ROLLE, Ayana MESPLES, Alejandro MIKHAEL, Samir B. R. MILLAR, Mucomba MINNIS, Hubert A.** MINNIS, Jamil MINNIS, Shantel MINUS-GRIMES, Indira MITCHEL-FRANCIS, Maria

S2361 S1534 S1623 S582 S1687 S1394 S818 S510

MITTAL, Kanhaiya MONCUR, Leander MOSS, Jessica MOSS, Kevin M MOSS, Tamarra MOXEY, Beverton Rodino MUNNINGS, Clyde Anson MUNNINGS Jr., Harold Alexander

Specialty General Surgery Internal Medicine Paediatrics Psychiatry Radiation Oncology Psychiatry General Surgery Psychiatry Family Medicine Internal Medicine Family Medicine Internal Medicine Family Medicine General Surgery Internal Medicine General Surgery Psychiatry Obstetrics and Gynaecology Internal Medicine Emergency Medicine Family Medicine Radiology Internal Medicine Family Medicine Anaesthetics Internal Medicine Obstetrics and Gynaecology Internal Medicine Emergency Medicine Emergency Medicine Internal Medicine Anaesthetics Radiology Anaesthetics Internal Medicine Paediatrics Gynaecology and Pelvic Floor Surgery Internal Medicine General Surgery Psychiatry Physical Medicine Family Medicine Paediatrics Family Medicine General Surgery Obstetrics and Gynaecology Medical Microbiology Family Medicine Neurological Surgery Family Medicine Urology Family Medicine General Surgery Family Medicine Paediatrics Psychiatry Thoracic Surgery Paediatrics Plastic Surgery Paediatrics Internal Medicine Internal Medicine Paediatrics Cardiology Obstetrics and Gynaecology General Surgery Tele-radiology Family Medicine Family Medicine Orthopaedics General Surgery Anaesthetics Internal Medicine Orthopaedics Medical Oncology Family Medicine Internal Medicine Family Medicine Obstetrics and Gynaecology Pathology Internal Medicine Family Medicine Family Medicine Ophthalmology Radiology Obstetrics and Gynaecology Orthopaedic Surgery Ophthalmology Obstetrics and Gynaecology Obstetrics and Gynaecology Emergency Medicine General Surgery Internal Medicine and Paediatrics Paediatrics General Surgery General Surgery Diagnostic Radiology Family Medicine Internal Medicine General Surgery Paediatrics Internal Medicine Emergency Medicine Paediatrics Radiology Otorhinolaryngology General Surgery Obstetrics and Gynaecology Orthopaedic Surgery Internal Medicine Family Medicine General Surgery Radiology Paediatrics Radiation Oncology Paediatrics General Surgery Ophthalmology Obstetrics and Gynaecology Internal Medicine Obstetrics and Gynaecology Anaesthetics Anaesthetics Internal Medicine Family Medicine Obstetrics and Gynaecology Paediatrics Paediatrics Orthopaedic Surgery Paediatrics Obstetrics and Gynaecology General Surgery Internal Medicine Obstetrics and Gynaecology Paediatrics General Surgery Family Medicine Anaesthetics General Surgery Paediatrics Neurological Surgery Emergency Medicine Paediatrics Paediatrics Paediatrics Interventional Cardiology Ophthalmology Family Medicine Obstetrics and Gynaecology Obstetrics and Gynaecology Radiology Family Medicine Internal Medicine and Paediatrics Ophthalmology Anaesthetics Emergency Medicine Internal Medicine Paediatrics Internal Medicine Internal Medicine Internal Medicine

Name

Specialty

S411 S790 S1334 S1225 S702

MUNROE, Locksley Uriah MUNROE, Margo NAIRN, Cordelia NAIRN, Indera NEIL, Gregory Christopher

S365 S1018 S1856 S1271 S597 S212 S919 S2157 S1526 S1382 S1634 S966 S944 S636 S621 S815 S1017 S1290 S1219 S1233 S795 S1784 S2364 S2403 S703 S1554

NEVILLE, Michael NEYMOUR, Reginald Demetrius NOTTAGE, Mitesha NWOSA, Nkemdilin NWOSA, Vincent Isioma ORLANDER, Herbert Errington OSAZUWA, Charles Erhahon PAHWA, Rajesh PARKER-CURLING, Kristine PARKER, Kwabna Neil PATTERSON, Kiesha PAYNE-FIELDING, Marguerite PEDICAN, Mandi PENNERMAN, Geoffrey Wentworth PHILIPS, Winston Stanfield PIERRE, Sy Coolidge PINDER, Andrew PINDER-BUTLER, Sabriquet PINTO, Gregory PITTER-CURRY, Raquel POITIER, Myles PRATT, Monique PRODROMOS, Chadwick RADDER, Srinivasa RAHMING, Charles Lyndon RAMPHAL, Paul

S649 S649 S1182 S1183 S1416 S256 S334 S984 S1192 S309 S1289 S1277 S1713 S1383 S1779 S1563 S1184 S1139 S1658 S1006

RAMSINGH, Robert* READ, Stanley* REMY-TAYLOR, Ayana RICHARD, Annalease RIVERS, Keith ROBERTS, Paul Benjamin ROBERTS, Robin ROBERTS, Tracey RODGERS, Juana Olympia RODGERS, Kenneth Jonathan ROKER-DAVIS, Tonya ROLLE, Anishka ROLLE, Gemma ROLLE-SMITH, Lisa ROPER, Robert ROWE, Karen-Marie A. RUSSELL-Hermanns, Dawn SAKHARKAR, Vrunda SALAS, Zurina SANDS, Caryn Orry

S813 S799 S116 S80 S1446 S1436 S1348 S1603 S428 S1008 S1795 S1371 S1094 S2064

SANDS, Duane Ernest SARMA, Birenda SAWYER, Adrian Wade SAWYER, Madlene SEALEY, Simone SERVILLE, Dia SEYMOUR, Yashica SHARMA, Munesh SIN QUEE-BROWN, Corrine O. SINGH, Harikrishna SMITH, Carlese SMITH-ROLLE, Deval SMITH, Frederick SMITH, Gigi

S1403 S1447 S1111 S1655 S376 S1518 S1481 S1666 S646 S2402 S1015 S314 S1325 S693 S1776 S1533 S38 S1197 S1819 S1450 S2267 S565 S2366 S2170 S220 S1251 S2575 S329 S479 S759 S546 S1331 S294 S1729 S1001 S1063 S650 *honorary **inactive

SMITH, Keysha SMITH- PRATT, Inga SMITH-WALLACE, Sheena STEPHENS, Leonard STEWART, Julian STORR, Latoya STUBBS, Odia SUBRAMANIAN, Vijay SUNDARAM, Lalitha SURAGE, Sibyl SWEETING, Michelle Betty SWEETING, Robert TAYLOR-ROLLE, Sally THOMAS, Carlos THOMAS, Melonie THOMPSON, Jahzreel THOMPSON, Phillip THOMPSON, Sharon THOMPSON-BADAMOSI, Tanya TINUBU, Olubodun TSERETOPOULOS, Adrianna TSERETOPOULOS, Constantine TURNER, Meredith TURNQUEST, Dominique TURNQUEST, Jean TURNQUEST, Theodore WADHWA, Susheel WALKINE, Franklin W. WARD, Paul Harold WARREN-HEPBURN, Juliette WEECH, Mark Anthony WELLS, Christa WHITFIELD, Patrick Nelson WILLIAMS, Bert WILLIAMS, Francis WILLIAMS-ROBINSON, Yasmin Francine WILSON-CUNNINGHAM, Joanne

General Surgery Radiation Oncology Emergency Medicine Paediatrics Plastic and Reconstructive Surgery Psychiatry Anaesthetics Family Medicine Obstetrics and Gynaecology Internal Medicine Dermatology Internal Medicine Radiology Internal Medicine Internal Medicine Family Medicine Radiology Pathology Anaesthetics Orthopaedics Anaesthetics Family Medicine Family Medicine Urology Paediatrics Family Medicine Internal Medicine Orthopaedic Surgery Radiology Neurology Cardio, Thoracic and Vascular Surgery Otorhinolaryngology Paediatrics Paediatrics Psychiatry Family Medicine Paediatrics Urology Medical Oncology Family Medicine Ophthalmology Family Medicine Internal Medicine Internal Medicine Family Medicine Emergency Medicine Anaesthetics Ophthalmology Obstetrics and Gynaecology Cardiology Clinical and Anatomic Pathology General Surgery Ophthalmology Internal Medicine Obstetrics and Gynaecology Obstetrics and Gynaecology Internal Medicine Paediatrics Radiology Paediatrics Anaesthetics Anaesthetics Family Medicine Internal Medicine Internal Medicine and Paediatrics Family Medicine Obstetrics and Gynaecology Internal Medicine Urology Obstetrics and Gynaecology Emergency Medicine Internal Medicine Radiology Obstetrics and Gynaecology Otorhinolaryngology Emergency Medicine Ophthalmology Family Medicine Paediatris Anaesthetics Anaesthetics General Surgery Obstetrics and Gynaecology Internal Medicine General Surgery Family Medicine Internal Medicine Family Medicine Anaesthetics Psychiatry Internal Medicine Neuro Surgery Family Medicine Obstetrics and Gynaecology Dermatology Anaesthetics Emergency Medicine Family Medicine Urology Family Medicine Family Medicine Paediatrics

Registration #

Name

S1641 S1628

BONIMY, Charlyon BOWE, Dedrick

S1419

BRENNEN, Delon

S427 S513 S1574

BROWN, Conville BUTLER, Raleigh I. CARGILL, JR., Adrian

S550 S909

CARGILL, Patrick Livingstone COLEMAN, Henry Joseph

S988 S1274 S1677

COOPER, Eugene Marcus, CURLING, Duvaughn Ellis DAVIS-SIMMONS, Ariane

S1502

DAVIS, Kala

S1579 S921 S1232 S11107 S990 S1078 S878 S1131 S573 S413 S2350 S326 S1196 S123 S524 S335 S15 S539 S582 S1394 S818 S510 S1271 S597 S1526

DEVEAUX, Don FARQUHARSON, Delton FORBES, Nikkiah FORBES, Winston FRANCIS, Wesley GARIKAPARTHI, Srikanth GRANT-TAYLOR, Ilsa Camille HALLIDAY, Darron HENNIS, Paul Joseph Andrew HUNT, Paul JOHNSON, Dexter JOHNSON, John KNOWLES, Gaye KNOWLES, Ronald Lockwood LIGHTBOURNE, Jerome Warren LOCHAN, Steve R. LUNN, John* McDEIGAN, Gwendolyn MOSS, Kevin M MOXEY, Beverton Rodino MUNNINGS, Clyde MUNNINGS Jr., Harold Alexander NWOSA, Nkemdilin NWOSA, Vincent Isioma PARKER-CURLING, Kristine

S1382 S944 S1784 S649 S1416 S1277 S1713 S1006 S813

PARKER, Kwabna Neil PEDICAN, Mandi PRATT, Monique READ, Stanley* RIVERS, Keith ROLLE, Anishka ROLLE, Gemma SANDS, Caryn Orry SANDS, Duane Ernest

S116 S80 S428 S1094 S693 S1819 S565 S1251 S546 *honorary **inactive

SAWYER, Adrian Wade SAWYER, Madlene SIN QUEE-BROWN, Corrine O. SMITH, Frederick THOMAS, Carlos THOMPSON-BADAMOSI, Tanya TSERETOPOULOS, Constantine TURNQUEST, Theodore WEECH, Mark

Sub-Specialty Infectious Diseases Pulmonary Disease and Critical Care Medicine Paediatric Emergency Medicine Cardiology Gynaecologic Oncology Pulmonary Disease and Critical Care Medicine Cardiovascular Disease Cardio, Thoracic and Vascular Surgery Gastroenterology Oncology Endocrinology, Diabetes and Metabolism Pulmonary Disease and Critical Care and Sleep Medicine Nephrology Vascular Surgery Infectious Diseases Cardiology Surgical Oncology Plastic Surgery Nephrology Gynaecologic Oncology Paediatric Cardiology Allergy and Immunology Oral and Maxillofacial Surgery Nephrology Paediatric Surgery Nephrology Paediatric Cardiology Neonatology Oncology Neonatology Pulmonary Diseases Gastroenterology Neurology Gastroenterology Obesity Medicine Rheumatology Endocrinology, Diabetes and Metabolism Rheumatology Forensic Pathology Nephrology Infectious Disease Geriatric Medicine Rheumatology Gastroenterology Forensic Pathology Cardio-Thoracic and Vascular Surgery Nephrology Maternal Fetal Medicine Hematology Nephrology Neonatology Endocrinology Cardiology Oncology Critical Care

THE TRIBUNE

Thursday, July 30, 2020, PAGE 15

BAR OWNERS SUE LOUISIANA GOVERNOR OVER VIRUS RESTRICTIONS BATON ROUGE Associated Press ELEVEN Louisiana bar owners filed a lawsuit yesterday against Gov John Bel Edwards, arguing his coronavirus rules limiting bars to takeout and delivery unlawfully target one business sector and impose overly harsh restrictions.

The lawsuit names the Democratic governor and Fire Marshal Butch Browning, the chief

enforcement officer of the virus regulations for Edwards, as defendants. It was filed in Lafayette federal court by bars located across Acadiana, including in New Iberia, Morgan City, Youngsville and Lafayette.

The bars argue Edwards cannot show a “real or substantial relation” between the closure of bars to onsite drinking and the public health crisis. They say only a small number of known COVID-19 cases have

been traced to bars by the state, and they say none of those cases were tracked to their businesses.

Lawyer Jimmy Faircloth, representing the bar owners, said Edwards’ coronavirus restrictions “may have warranted the benefit of the doubt” in the early days of the outbreak of the COVID-19 disease caused by the virus. But he said more scientific data is available, and he argues that data undermines Edwards’ decision.

“Further, the public has become well versed in the art of social distancing, and businesses have learned to alter their environments to accommodate this practice. Simply put, although perhaps justified months ago, it is no longer sufficient to rely on hysteria, hearsay or biased commentary as a basis to impose overly-broad, draconian restrictions on fundamental rights,” wrote Faircloth, a onetime executive counsel to former Gov Bobby Jindal.

The Louisiana Department of Health says it has traced 464 confirmed coronavirus infections to 41 bars, among the largest number of cases tracked to a specific type of business. The White House’s coronavirus task force recommended that Louisiana close bars to reduce public health risks and to lessen the spread of the virus.

Edwards and his health advisers have said bars are specifically problematic because people tend to huddle closely together

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 91° F/33° C Low: 76° F/24° C

TAMPA

FRIDAY

SATURDAY

SUNDAY

MONDAY

Sunshine and a few clouds

Mostly clear with a shower late

Afternoon rain from T.S. Isaias

Wind and rain from T.S. Isaias

A couple of showers and a t‑storm

Mostly cloudy with showers

High: 89°

Low: 80°

High: 88° Low: 76°

High: 88° Low: 77°

High: 88° Low: 77°

High: 88° Low: 77°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

100° F

88° F

97°-77° F

96°-82° F

98°-84° F

96°-85° F

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

N

almanac

E

W

ABACO

S

N

High: 86° F/30° C Low: 82° F/28° C

6‑12 knots

S

High: 91° F/33° C Low: 79° F/26° C

6‑12 knots

FT. LAUDERDALE

FREEPORT

High: 91° F/33° C Low: 80° F/27° C

E

W S

E

W

WEST PALM BEACH

N

uV inDex toDay

TONIGHT

High: 92° F/33° C Low: 79° F/26° C

High: 91° F/33° C Low: 78° F/26° C

MIAMI

High: 93° F/34° C Low: 82° F/28° C

4‑8 knots

KEY WEST

High: 90° F/32° C Low: 84° F/29° C

High: 89° F/32° C Low: 80° F/27° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 87° F/31° C Low: 82° F/28° C

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.)

Today

4:40 a.m.

5:24 p.m.

2.6 3.3

10:52 a.m. 0.1 11:55 p.m. 0.5

Friday

5:41 a.m.

6:20 p.m.

2.6 3.4

11:50 a.m. 0.1 ‑‑‑‑‑ ‑‑‑‑‑

Saturday

6:38 a.m.

7:12 p.m.

2.6 3.4

12:51 a.m. 0.4 12:45 p.m. 0.1

Sunday

7:30 a.m.

8:00 p.m.

2.7 3.4

1:42 a.m.

1:36 p.m.

0.3 0.1

Monday

8:18 a.m.

8:45 p.m.

2.7 3.4

2:29 a.m.

2:23 p.m.

0.3 0.1

Tuesday

9:03 a.m.

9:27 p.m.

2.8 3.4

3:12 a.m.

3:08 p.m.

0.3 0.2

Wednesday 9:46 a.m.

10:07 p.m.

2.8 3.3

3:53 a.m.

3:51 p.m.

0.3 0.3

sun anD moon Sunrise Sunset

6:37 a.m.

7:56 p.m.

Moonrise Moonset

4:41 p.m.

2:43 a.m.

Full

Last

New

First

Aug. 3

Aug. 11

Aug. 18

Aug. 25

CAT ISLAND

E

W

High: 87° F/31° C Low: 81° F/27° C

N

S

E

W

7‑14 knots

S

10‑20 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 ................................................... 88° F/31° C Low .................................................... 80° 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 ................................. 0.00” Year to date ............................................... 32.96” Normal year to date ................................... 19.56”

ELEUTHERA

NASSAU

inside without masks while drinking and lapse in their virus precautions the more alcohol they consume.

The bars argue in their lawsuit that the number of virus cases tracked to bars are a small number out of the more 100,000 confirmed cases across Louisiana. The lawsuit says that suggests bars do not pose a disproportionately high risk to the public that justifies restrictions targeted specifically to them.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 88° F/31° C Low: 81° F/27° C

High: 88° F/31° C Low: 82° F/28° C

N

High: 88° F/31° C Low: 82° F/28° C

S

LONG ISLAND

tracking map

High: 88° F/31° C Low: 81° F/27° C

H

E

W

8‑16 knots

MAYAGUANA High: 88° F/31° C Low: 80° F/27° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 88° F/31° C Low: 81° F/27° C

High: 88° F/31° C Low: 81° F/27° C

GREAT INAGUA High: 89° F/32° C Low: 79° F/26° C

N E

W

N E

W

S

S

12‑25 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: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday: Today: Friday:

WINDS E at 6‑12 Knots ESE at 7‑14 Knots E at 7‑14 Knots ENE at 10‑20 Knots E at 10‑20 Knots E at 25‑35 Knots ENE at 15‑25 Knots SE at 25‑35 Knots E at 8‑16 Knots E at 15‑25 Knots ESE at 4‑8 Knots E at 6‑12 Knots E at 10‑20 Knots ENE at 20‑30 Knots NE at 12‑25 Knots SE at 15‑25 Knots E at 12‑25 Knots E at 25‑35 Knots ENE at 12‑25 Knots E at 20‑30 Knots E at 7‑14 Knots ENE at 12‑25 Knots NE at 12‑25 Knots NNE at 15‑25 Knots E at 8‑16 Knots E at 15‑25 Knots

WAVES 2‑4 Feet 6‑10 Feet 1‑3 Feet 1‑3 Feet 3‑5 Feet 10‑14 Feet 4‑8 Feet 10‑14 Feet 3‑5 Feet 10‑14 Feet 1‑2 Feet 1‑2 Feet 1‑3 Feet 3‑6 Feet 4‑8 Feet 6‑10 Feet 2‑4 Feet 6‑10 Feet 6‑10 Feet 16‑20 Feet 1‑3 Feet 1‑3 Feet 3‑6 Feet 4‑8 Feet 1‑3 Feet 5‑9 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 4 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

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

PAGE 16, Thursday, July 30, 2020

THE TRIBUNE

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FEDERAL Reserve Chair Jerome Powell. Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the US economy. No major changes are likely when the Fed released a statement yesterday after its two-day policy meeting ends and just before Powell holds a news conference.

Photo: Jacquelyn Martin/AP

Fed sees dim economic outlook as virus squeezes economy WASHINGTON Associated Press FEDERAL Reserve Chair Jerome Powell warned yesterday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future.

That faltering economy, pressured by a resurgence of the virus, has heightened the need for Congress to continue providing significant financial aid, Powell said. Members of the House and Senate are negotiating a new package but are nowhere near agreement.

Senate Republicans and the White House are proposing a plan that would provide less help for unemployed

Americans than they are now receiving.

Speaking at a virtual news conference after a twoday Fed meeting ended, Powell said the economy had rebounded after nearly all states lifted their broad business shutdown measures in May. But since then, he noted, as new confirmed cases have soared, measures of spending and hiring have slipped or plateaued at low levels.

“Now that the cases have spiked again, the early data ... suggest that there is a slower pace of growth at least for now,” he said. “We don’t know how deep or for how long it will be.”

The economic stumble, amid the worsened viral outbreak, underscores the connection between the virus and the economy’s ability to sustain any recovery, the chairman said. This point was also highlighted in the Fed’s statement, which added a new sentence: “The path of the economy will depend significantly on the course of the virus.”

That observation was an acknowledgement that uncertainty about when the health crisis might be solved has complicated the Fed’s ability to set interest rate policy.

It’s also a point that Powell has made, in one way or another, for months as most states have succeeded only fitfully in controlling the virus and the ability of businesses to stay open. And it suggested that Powell and the Fed envision a prolonged recovery that will depend in large part on how well the US can contain the pandemic.

“A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities,” Powell said.

In the meantime, he said, “We are committed to using our full range of tools to support the economy. We will continue to use these powers until we are confident we are solidly on the road to recovery.”

Yet despite its concerns, the Fed announced no new policies. It said it will also continue to buy billions of dollars in Treasury and mortgage bonds each month, which are intended to inject cash into financial markets and spur borrowing and spending.

William English, a finance professor at Yale School of Management and former top Fed official, said that Powell stressed that he wanted to see more comprehensive data, such as next week’s July jobs report, before taking further steps.

“He acknowledged the softer high frequency data but didn’t put a huge weight on it,” he said. “He took the weight off that by emphasising the uncertainty.”

Powell also said that Congress had helped spur the modest economic recovery that occurred in May and June, when spending at retail stores and restaurants surged and employers added 7.5 million jobs.

Still, that amounted to just one-third of the jobs lost in March and April.

“In a broad sense, it’s been well spent,” Powell said of the $2tn package Congress approved in March. That legislation provided $600 in jobless benefits a week and set up a small business lending program.

“It’s kept people in their homes, it’s kept businesses in business.”

Yet “there will be a need for more support from us, and from fiscal policy,” Powell said, referring to Congressional tax and spending powers.

Congress is in the early stages of negotiating an economic relief package that might extend several key support programs, such as the expiring $600-a-week unemployment benefit.

That benefit will likely be reduced in any final legislation.

With the two parties far apart, the federal jobless benefit will likely lapse for at least several weeks for about 30 million people who are unemployed. That would likely slow consumer spending and weaken the economy.

Economists say the Fed has time to consider its next policy moves because short- and long-term rates remain historically ultralow and aren’t restraining economic growth. Home sales have picked up after falling sharply in the spring.

The housing rebound has been fueled by the lowest loan rates on record, with the average 30-year mortgage dipping below 3% this month for the first time in 50 years.

Still, with the economy struggling just to grow, small businesses across the country in serious danger and unemployment very high at 11.1%, the pressure is likely to increase on the Fed to take further steps.

Few investors expect the Fed to hike interest rates for years to come. After its previous meeting last month, the Fed signaled that it expected to keep its key short-term rate near zero at least through 2022.

The Fed’s overall message that it would keep rates low indefinitely with the economy in a severe downturn was widely expected by investors, and reaction in financial markets was muted. Stocks maintained their gains, and Treasury yields held steady.

Most analysts say they think the Fed’s next move will be to provide more specific guidance about the conditions it would need to see before raising its benchmark short-term interest rate from zero.

Economists call such an approach “forward guidance”, and the Fed used it extensively after the 20082009 recession. Some Fed watchers expect no rate increase until 2024 at the earliest given the bleak outlook for the economy and expectations of continued ultra-low inflation. But by providing more certainty for investors about when a rate hike may occur, forward guidance can help keep longer-term rates lower than they might otherwise be.