Issuu

business@tribunemedia.net

FRIDAY, MARCH 20, 2020

$4.38

$4.39

‘Change culture’ to soften $1bn blow

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

AHAMIANS were last night told they must shed “the culture of non-compliance” as “the best way” to minimise COVID-19’s projected $1bn blow to the national economy. Jeffrey Beckles, the Bahamas Chamber of Commerce’s chief executive, told Tribune Business that fully abiding by the stipulations set out in yesterday’s Emergency Powers (COVID-19) No.1 Order would shorten the private sector’s recovery timeline by reducing the spread of the virus locally.

to keep themselves three to six feet apart in a bid to prevent further spread of the coronavirus. Those sectors that can remain open to the general public, as long as the number of customers inside is restricted in accordance with “social distancing”, include wholesale and grocery retail stores, together with farmer’s markets, to ensure the food supply chain is not disrupted. These stores, though, can only open from 6am to 5pm. Two other sectors that can still serve customers,

JEFFREY BECKLES

pharmacies and gas stations, must also adhere to the same opening hours. Meanwhile, doctors, hospitals, pharmacies, medical facilities and suppliers are also allowed to cater to customers, along with banks that can open from 9am to 5pm. Commercial shipping ports and associated businesses can also open from 6am to 5pm, while hotels and airports, too, will remain open to guests and travellers, respectively. Laundromats

SEE PAGE 4

Nygard’s fashion empire placed into receivership By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net PETER Nygard’s global fashion empire has been plunged into financial crisis after court-appointed receivers this week took over its affairs following recent sex trafficking allegations against the tycoon. The claims against the Lyford Cay resident, which he has vehemently denied, were cited by the Nygard Group’s lenders as a key factor behind their decision to successfully petition the courts for the appointment of a receiver over business interests has has spent decades building. Two US-based financiers, White Oak Commercial Finance and Second Avenue Capital Partners, are alleging in court papers that Mr Nygard’s fashion empire

• Sex lawsuit key to lender action • Breach of $40m loan deal claimed • Tycoon’s interests in liquidity crunch

PETER NYGARD breached the conditions of a $40m loan agreement by failing to promptly disclose the lawsuit where ten girls made allegations of rape and sexual assault against him.

Construction starts to take ‘40-60% hit’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

NEW construction starts will take a 40-60 percent hit, a former Bahamian Contractors Association (BCA) president predicted yesterday, with the industry unlikely to rebound until near year-end. Leonard Sands, pictured, told Tribune Business that while projects underway were still likely to proceed despite the coronavirus pandemic, developers and financiers were likely to postpone or delay those in

the investment pipeline. Warning that the construction industry is not a sector where investors “can just jump up and start again”, Mr Sands forecast that the “long lead times” involved

SEE PAGE 5

Retailers warn over COVID-19 ‘crime spike’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

A CHAMBER of Chamber director yesterday said “crime has spiked considerably” as following the coronavirus outbreak and subsequent shut-down of much of the Bahamian economy. Tara Morley, who is also the Bahamas Federation of Retailers (BFR) co-president, told Tribune Business: “What has been happening during this time is that crime has spiked considerably. We have noticed that

over the past weekend up to today that several businesses, including several of our members, have been broken into. “It is more than unusual, and it shows a trend that is higher than normal. We have contacted the police, and they are looking into it and have noticed it as well. We just want our members to know, along with any other businesses, to take extra precautions and make sure that you have appropriate security at your premises. If you don’t have alarms, make sure

SEE PAGE 4

This was swiftly followed by the Federal Bureau of Investigation (FBI) and New York Police Department raid on Nygard Group’s New

$4.46

Super Value’s ‘crazy panic buying figures’

• Emergency compliance key to recovery • Home retailers seek ‘essential’ status • Atlantis shuts towers but denies ‘closed’ Pointing out that the economy was already poised to suffer “a huge hit” due to the global travel and tourism shutdown, Mr Beckles said the measures unveiled by the prime minister did “nothing to change” that outlook or make it any worse. Dr Hubert Minnis yesterday ordered all Bahamas-based business entities, apart from those on the exempted list, to close to customers and effectively send all non-essential staff home. Those that remain are to practice “social distancing”

$4.47

York and California offices, which resulted in its largest customer, Dillard’s, dropping the Canadian’s empire as a supplier. White Oak and Second Avenue alleged that this represented a further default under the loan agreement, for which $25.87m is allegedly outstanding and owing, due to Dillard’s accounting for 67 percent - more than two-thirds - of Nygard Group’s third party wholesale group. Richter Advisory Group, which was appointed as the Nygard Group’s receiver by the Canadian courts on

SEE PAGE 5

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SUPER Value’s principal yesterday revealed that COVID-19 panic buying had produced “crazy figures” with sales at some stores having increased by as much as 147 percent. Rupert Roberts, the supermarket chain’s president, told Tribune Business that while the frenzied consumer stocking up appeared to have “slowed down slightly” it was likely only a matter of time before a fresh wave was triggered. Disclosing that Bahamians were flocking to food stores whenever there were fresh development, such as the rise in the number of local coronavirus cases from one to three, Mr Roberts said: “They were busy shopping all last week, and Sunday morning there was a 60 percent increase. That was a 50 percent increase from that week. “The Blue Hill store is up over last year by 141 percent. The Cable Beach Quality store also saw a 141 percent increase in the last few days. Golden Gates was up 130 percent. and Top-ofthe-Hill Mackey Street by 147 percent. It’s crazy figures. This last Wednesday over the previous Wednesday, we had some stores 101 percent, 107 percent up compared to those figures. “We were tracking the sales against last year, and then we were tracking them against day-by-day last week and this week. There are still running in the 100 percent range for day-today, doubling up.” Mr Roberts said customers were purchasing product as rapidly as Super Value restocked its shelves, which he said was both impacting its supply chain and undermining customer service. “They’re panicking,” he

RUPERT ROBERTS said of consumers, “and it’s disruptive to the organisation. We cannot give them the customer service they deserve. I made a plea earlier this week, because we have adequate supplies of food and have more coming in. “This panic buying is totally unnecessary. Panic buying interrupts the situation. I would say it’s slowed down slightly but it seems to come in waves. When the case count here went up from one to three, it started again. News seems to trigger it.” Mr Roberts said Super Value had not implemented rationing or set limits on how much of one product consumers can purchase. This was in contrast to one of his rivals, Solomon’s Yamacraw, which revealed in a notice posted at its front entrance that it has “limited the purchase quantity per transaction of select high demand items” to two per person. The products involved included bathroom tissue, paper towels, kleenex, dish and hand soap, hand sanitiser, disinfectant wipes, bleach, baby wipes, water, infant formula, bread, milk and eggs. Mr Roberts conceded that Super Value should have done similar “in the early days” with hand santisers and Lysol spray, but admitted that he “never thought it would go to this”.

SEE PAGE 5

PAGE 2, Friday, March 20, 2020

THE TRIBUNE

Keeping workers busy during the pandemic

HE entire planet has been reeling over its response to the pandemic we call COVID-19. Businesses (particularly those in the tourism and hospitality industry) have closed or are in such decline that closure is imminent. For those that remain employed (government workers and other industries not immediately impacted), productivity and full engagement is a real concern. We all agree with the experts who assure us that this, too, shall pass but, in the interim, a business plan, response and conversation about idle employees must be had. There always seems to be a problem with keeping employees busy during their downtime. Only a few employees can be considered go-getters or self-starters. The others will need help understanding that less economic activity provides the perfect time for tackling short-term projects. Here are a few suggestions: 1. Communicate and Plan The first thing to do is understand exactly what your business needs, and the short-term projects your employees can accomplish. You will need to know their strengths and weaknesses, as well as their goals for working there. This requires open and honest communication. The best time for this is during an annual review. The next step is to create an action plan with realistic projects and objectives for each of your employees. Always remember to write it out and pass it on. Everyone should be aware of these expectations. In order to help you think about some realistic goals, here are some ways to keep your employees busy. 2. Get organised Cut down on clutter and mess. These waste more time than you think, and make a store look unkempt. This is an ideal time to clean

records, and filing systems, perhaps even digitising those records. These employee downtime projects will certainly make your employees more productive, and they may make you more productive, too. With all of the small projects off your plate, you will be able to check inventory and purchase orders. There is also all of the sales data to be analysed from the holiday season. Whatever you choose, it all fits in with your company’s best practices and points you in the direction of success. 3. Evaluate use of time Have your employees reflect upon their day, and look at all the small tasks they do. This will get them thinking in greater detail about their how to become more productive. One way to spark their thoughts is to ask them simple questions, such as: How much time does it take to process a transaction? Can the return policy be updated to make it quicker? What resources do you need? 4. Business and Project Planning Have employees plan a special project with a specific goal. This is great area for departments such as marketing and advertising. Cleaning up, and updating, the business plan prepares you for greater success after the virus has passed. 5. Increase Networking Opportunities Almost everyone has a social media page, and often shares information with family and friends. Your employees can provide free advertising. They can also help expand your customer base. Increased activity on social media pages, starting exciting blogs and hosting informational webinars can only increase your presence in the marketplace. 6. Introduce Training Opportunities Look for ways to train your employees in various areas of

IAN FERGUSON BY

the business via cross-training exercises. This will ensure coverage of duties and tasks when someone is absent. The use of video-interfacing tools such as Zoom, Skype, Microsoft teams and many others provide an opportunity for companies to ramp-up learning opportunities for staff. The Internet has become the new university for so many areas of specialty. Having staff work through skills gaps by viewing established online programs can only add value. 7. Follow up with customers Your point-of-sale software should provide a list of customer phone numbers and e-mail addresses. Have your employees reach out to your most recent customers and personally check to see if they were satisfied or had any problems with their purchases. • NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@ coralwave.com.

THE TRIBUNE

Friday, March 20, 2020, PAGE 3

Petroleum suppliers confident no interruption from COVID-19 By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net MAJOR Bahamas-based petroleum suppliers yesterday said they expect no disruption to fuel flows due to the coronavirus pandemic. Valentino Hanna, general manager at Sol Petroleum Bahamas, the Esso distributor, told Tribune Business: “At present we see no reason why there would be any disruptions in fuel supply logistics, and expect the market to be well supplied throughout the challenging months to come. “The elements of the maritime industry

associated with our supply logistics have taken very serious measures to ensure that their personnel’s exposure to COVID-19 is minimised even, in some instances, as far as eliminating shore leave for vessel personnel entirely.” Dexter Adderley, managing director of Sun Oil Ltd, the Shell distributor, added: “We expect no adverse effects from the coronavirus outbreak.” He said Sun Oil is well stocked, and that it can continue to supply the market without any disruption. No supply interruptions are expected in the near future. The prime minister yesterday also reassured that The

Bahamas is well-stocked for gasoline and other petroleum-related products, and that there was no need for long queues at gas stations such as those seen before and after hurricanes. He added that fuel tankers and other vehicles required to distribute petroleum products will also be exempt from the 11-day curfew that begins today, starting at 9pm every night to 5am in the morning, so that gasoline stations can have the necessary fuel inventories. Dr Hubert Minnis made his comments after meeting with the major petroleum distributors at the Prime Minister’s Office yesterday.

GB Power suspends new consumer levy GRAND Bahama Power Company yesterday said it is suspending the extra charge it was preparing to add to customer bills from April 1, 2020, due to the coronavirus pandemic. The utility said the move occurred “following consultation” with the Grand Bahama Port Authority (GBPA), its regulator, which had previously approved the Storm Recovery and Stabilization (SRS) charge as way for it to recoup $15.6m in Hurricane Dorian restoration costs over a five-year period. “Delaying the implementation of the SRS charge is a measure we can take to support our customers during this challenging and quickly evolving time,” said Dave McGregor, GB Power’s president and chief operating officer. “Given the fluidity of the current situation surrounding COVID-19, we can’t say at this time when the SRS charge will become effective. “As we shared in February we still have work ahead of us to complete restoration island‐wide. We remain committed to east Grand Bahama, and to the restoration of supply to the residents and businesses of those communities.”

Mr McGregor admitted to Tribune Business at the time the extra fee was announced that it was “not an easy sell” to Grand Bahama residents and businesses still trying to recover from Dorian’s ravages. Acknowledging that an increase in electricity costs was the last thing they wanted, Mr McGregor said the extra charge was “unfortunate” but necessary to rebuild essential energy infrastructure - particularly in the hardest hit parts of east Grand Bahama. Explaining that the additional fee was a “pass through” like the fuel charge, and that GB Power would not earn a single cent in profit from it, Mr McGregor said this ensured it was “the fairest way for customers to pay” for the restoration of essential energy infrastructure. The charge for its three customer categories was to be: • Residential - $0.013 cents per kilowatt hour (kWh) or 1.3 cents • Commercial - $0.008 per kWh or 0.8 cents • GSL (industrials) $0.010 per kWh or one cent. The GBPA added that the Storm Recovery and Stabilisation Charge would represent an increase

of less than $7 per month for the “average” residential customer, and $24 for the “average” business customer, in a bid to soften the upcoming blow and any consumer push back/fall-out. They, though, were not impressed. Pastor Eddie Victor, president of the Coalition of Concerned Citizens (CCC), told Tribune Business that the utility’s move showed “complete disregard and great insensitivity” for the island’s plight. He added that stormbattered consumers and businesses “cannot bear” the additional levy, and slammed the seeming rush to introduce the new charge without undertaking a full public consultation exercise to obtain feedback from residents and the private sector on the likely impact. Pastor Victor said the episode further highlighted the need for the Utilities Regulation and Competition Authority (URCA) to take over supervision of GB Power and all other Freeport-based utilities from the Grand Bahama Port Authority (GBPA), along with the introduction of energy sector competition - especially in the island’s west and east, and outside the Port area.

CIBC offers six-month virus loan moratorium CIBC FirstCaribbean yesterday unveiled a range of options, including up to six-month loan moratoriums, to cushion COVID-19’s economic fallout for clients across The Bahamas and wider Caribbean. Following the lead set by its fellow Canadian-owned institution, Royal Bank of Canada, CIBC said in a statement that it was ready “to offer special assistance on a case-by-case basis” for borrowers and other clients across its retail, business banking, wealth management and corporate banking segments. It added that this “special assistance” could include deferred loan payments; special loan financing; and other concessions aimed at softening the financial impact of the pandemic on households and business across the Caribbean. Among the solutions being proposed by CIBC are six-month payment moratoriums on existing loans and mortgages; temporary revolving or working capital financing options for corporate and business banking clients. Colette Delaney, CIBC’s chief executive, said the bank was “very conscious of the financial dislocation which the ongoing COVID19 event will have on our clients across all segments of our business, and we are moving to mitigate the effects as best as we can”. She added that the special assistance being offered was critical to maintain confidence and stability in the regional banking sector as it weathered this period. Ms Delaney urged CIBCFirstCaribbean clients who may be experiencing challenges to reach out to the bank to see what assistance could be offered to them. Clients experiencing financial challenges

can contact: • Retail and business banking clients: The customer care and sales centre or branch directly • The relationship manager for platinum banking • The business banking manager • Corporate and investment banking clients: Contact the relationship management team directly by telephone or e-mail. • Wealth management clients: Contact your relationship management team to arrange the earliest opportunity to discuss specific needs, either by telephone or by e-mail. CIBC’s action comes after Royal Bank unveiled a three-month deferral of loan repayments for clients in The Bahamas and wider Caribbean who were in good standing as at March 2, 2020. Detailing its response to the coronavirus pandemic, Royal Bank said: “Effective immediately, most RBC personal banking clients in the Caribbean will benefit from an automatic threemonth payment deferral on credit facilities. “Business and

corporate banking clients are also eligible for the relief programme, following individual eligibility assessments with an RBC representative. Automatic payment deferrals will be applied as of March 17, 2020, and remain in effect until June 30, 2020, or until further advised.” To qualify for the initiative, RBC said its personal banking, business and corporate clients must be current and in good standing with their loan accounts as of March 2, 2020. It added that clients already participating in other RBC relief programmes are excluded from the initiative. The Canadian-owned bank said its goal was to help clients manage the potential financial fall-out from COVID-19, especially the loss of jobs or income; childcare disruption due to school closures; or dealing with the virus itself. RBC added that it was continuing to monitor the coronavirus, and its economic impact, in all territories in which it operates and “may consider other relief measures if necessary”.

PAGE 4, Friday, March 20, 2020

THE TRIBUNE

‘Change culture’ to soften $1bn blow FROM PAGE ONE and wash houses can open their doors from 6am to 5pm, although the enforcement of “social distancing” could prove challenging. Drive-through or takeaway food vendors can open from 6am to 7.30pm, while construction companies will be able to operate from 6am to 7pm under the measures unveiled by the prime minister. However, the public bus (jitney) sector has been ordered into a total shutdown, while the inter-island transport of passengers by mail boat must also cease. The order, which enables the government to include “other businesses or undertakings” on the exempted list, has already come under challenge. CBS Bahamas (Commonwealth Building Supplies), in a message sent to clients that was seen by Tribune Business, said it and five other retailers

had already written to the Prime Minister’s Office asking to be deemed “essential retail operations”. “In line with the government’s Emergency Order, we will be closing most of our operations (retail, consultations and deliveries) effective tomorrow, March 20,” CBS Bahamas said. “Many of you in our local Carmichael Road community have already reached out in concern. “We, along with five other industry leading retailers, have already sent a letter to the Office of the Prime Minister urging the Bahamian government to deem home improvement retailers as ‘essential’ retail operations.” CBS Bahamas did not identify the other five retailers, although hardware and home furnishings form a significant element in the Bahamian retail sector. Major players include the likes of Kelly’s Home Centre, Tops, the Quality

Home Centre, MultiDiscount Furniture and numerous others. Setting out the rationale for why they should still be allowed to open their stores to customers, CBS Bahamas said: “While we have no interest in operating at our normal size and full staff complement, we would like to remain semi-open for a limited period - and under the strictest of conditions - so that we can continue to serve our local community while ensuring our staff remain safe). Electrical emergencies will not disappear. Plumbing issues will not cease to exist. Home security measures will still be required. Things around the house will continue to break. Often times, the local hardware store represents the only outlet where consumers have access to essential supplies for cleaning, disinfecting, maintaining, securing or repairing their residences.” It is also unclear why seemingly critical industries, such as bottled water manufacturers, have not been included in the government’s list of exempted sectors. Among those sectors hardest hit by the

government’s COVID-19 measures will be non-food retailers, especially those in the footwear/apparel, hardware and home furniture sectors. Locations such as the Mall at Marathon and SouthWest Plaza will likely be empty. Building supply stores, such as Pinder Enterprises and JBR, will also have to close to walkin customers, while auto parts suppliers such as AID and WHIM will have to do likewise. Auto repair shops, web shops, liquor stores, electrical goods retailers, nightclubs, bars and restaurants that rely on persons dining in, law firms and multiple other segments of the Bahamian economy will also have to cease face-to-face dealings with customers. Restaurants such as Checkers, and fast food franchises, will likely have to rely on their drive-through and home delivery services. The COVID-19 crisis has further highlighted the importance of technology and the digital economy, as those retailers and other businesses - such as web shops - with a strong online presence that is able to take orders and payment over the internet will be able to continue conducting transactions although these are likely to be much reduced compared to normal. Companies in the dominant services side of the Bahamian economy, such as law firms and realtors, will also be able to teleconference and interact with clients via electronic means, thus ensuring disruption is minimised. The Minnis administration’s measures were unveiled as predictions by Dionisio D’Aguilar, minister of tourism and aviation, that The Bahamas will see “no visitors” for the next two to three months moved a step closer to becoming reality after the US government issued a “Level 4” travel advisory to all Americans. This essentially tells all Americans outside the US to come home as rapidly as possible - an indication that The Bahamas’ major source market, accounting for 85 percent of all visitors to this nation, is planning to soon close its borders in response to the coronavirus pandemic. With the existing trickle of stopover visitors likely

FROM PAGE ONE

www.bisxbahamas.com

(242) 323-2330

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,168.36 | CHG: -45.95 | %CHG: -2.08 | YTD: -63.24 | YTD%: -2.83 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.70 2.60 2.00 5.47 12.77 6.17 4.50 10.75 3.64 5.10 10.88 8.15 16.99 9.40 4.24 15.21

52WK LOW 3.35 20.91 5.50 5.38 1.96 0.67 2.00 10.21 5.60 3.89 6.10 2.53 1.80 8.00 6.46 14.00 6.98 3.14 13.85

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

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

1000.00 1000.00 1000.00 1000.00

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

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

1.00 10.00 1.00

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.90 12.00 6.00 4.15 6.10 3.04 4.90 8.22 8.15 15.08 8.97 4.24 15.21

CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.90 11.26 6.00 4.15 6.10 2.89 4.90 8.36 8.15 14.60 8.97 4.24 15.21

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.74 0.00 0.00 0.00 -0.15 0.00 0.14 0.00 -0.48 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

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

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

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

2,000 170

1,100 2,060

VOLUME

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

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

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.6 15.6 13.4 22.6 43.6 28.3 10.5 12.9 11.2 17.9 9.6 20.9 24.1

0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.67% 2.89% 0.00% 15.02% 1.22% 3.92% 2.94% 3.70% 2.23% 2.83% 4.01% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 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-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 0.37% 3.81% 0.24% 4.38% 0.23% 2.75% 5.76% 5.76% 12.81% 12.81% 0.58% 4.04% -1.09% 5.26% 0.22% 4.45% 2.29% 9.61% 11.57% 11.57% 18.35% 18.35% 5.17% 5.17% 15.86% 15.86% 5.67% 5.67% 3.40% 3.40% N/A N/A 10.80% 2.60% 10.40% -4.00%

NAV Date 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Jan-2020 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019 31-Dec-2019

MUTUAL FUNDS 52WK HI 2.30 4.38 2.09 195.13 166.73 1.67 1.83 1.76 1.23 8.34 10.26 6.94 12.01 12.35 10.74 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.67 1.83 1.76 1.23 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 2.30 4.38 2.09 195.13 166.73 1.67 1.83 1.76 1.23 8.34 10.23 6.94 12.01 12.35 10.73 N/A 8.98 11.40

MARKET TERMS

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

“I don’t know if it’s going to make any difference. Fact of the matter is, let’s be realistic. We’re already planning to take a hit. I don’t know if this means that it’s going to be much more painstaking,” Mr Beckles added of the economic impact. “The economy is already set up to take a huge hit, and the actions today [yesterday] don’t really change that.” Asked how long Bahamian businesses can hang on, in terms of being able to pay their staff with no revenue coming in if the pandemic lasted for months, he said much depended on the individual company and its financial situation. “I know it’s going to be very difficult,” Mr Beckles said. “I don’t know what that timeline looks like, and each company will have their own dynamics and financial footing. It’s the least desirable position anyone wants to be in. No one wants to be here, but here we are. “But having taken these drastic measures, which are harsh enough, by and large Bahamians are not complying. The greater question is: How do we get Bahamians to partake in these measures? We really need to be turning our attention to the issue of how do we work hard to change the culture we have to one of compliance and respecting what the state may advise us to do from time to time. “On the one hand we laud Bahamian professionals, but when they do speak we don’t listen to them. If Bahamians really want to do well for our economy, the best way to limit the blow to business is by complying,” Mr Beckles continued. “Our businesses affect our entire lifestyle, our way of life. The best way to mitigate the impact on our economy is compliance and to work with the authorities to get through this so that, when we do get out of this, the curve is a lot shorter because we complied in the first instance. “We have a lot to do, and it depends on how well Bahamians comply. We know we’re going to take a hit, and we can do a lot to mitigate that with compliance and co-operation to give business people the best chance to get through this very difficult time.”

RETAILERS WARN OVER COVID-19 ‘CRIME SPIKE’

MARKET REPORT THURSDAY, 19 MARCH 2020

to come to a complete halt imminently, Atlantis last night denied that the Paradise Island mega resort had been completely shut down. A spokesperson told Tribune Business: “Atlantis still has guests and we are taking each day as it comes.” An Atlantis insider, speaking on condition of anonymity, also confirmed to this newspaper that the resort had not fully closed. However, they revealed that the Coral Towers and Beach Towers have both been closed due to the lack of guests, and that all remaining visitors are being accommodated in the Royal Towers. The source was less certain as to the fate of The Cove and The Reef, but added: “They have closed the Coral and Beach Towers, and whatever guests are left are checking into the Royal Towers. So far they’ve not said anything else to the workers in regards to taking time off. But I suspect they’re going to doing more things. “This is just the beginning. I wouldn’t be surprised if there’s temporary lay-offs. It is literally dead here. It’s a ghost town. Many restaurants are closed. The beaches are empty. lt’s going to be bad. It’s already bad now. As every day goes by things are going to get worse. Right now it’s definitely impacting our economy in every sector.” The chamber’s Mr Beckles, meanwhile, said the curfew and customer closures mandated by the government will do little to exacerbate an already-grim economic outlook where the government is projecting an $832m loss of tourism spending for the four months to end-June 2020. He called on every Bahamian to abide by the measures announced by the government, arguing that it was the best way to control COVID-19’s spread locally and “flatten the curve” experienced by multiple other countries in terms of the explosive growth in cases. In so doing, the chamber chief argued that The Bahamas would control everything within its power, and both limit the economic fall-out and hasten the recovery once the pandemic had passed.

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

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

30-Sep-2019 30-Sep-2019 30-Sep-2019

you have alarms, or if you don’t have security bars, make sure you have security bars.” Ms Morley said several Federation members had also been unnerved further by the publication on social media of the government’s Emergency Powers (COVID-19) No.1 Order, which appeared several hours before it was formally announced by the prime minister. “We haven’t been asked to be closed, and we were wondering if we need to close,” she said, prior to Dr Hubert Minnis confirming that all businesses - apart from those on the exempted list - must “suspend operations to the general public for 11 days until month’s end. “We saw a pdf document floating around, and some of my members said it was telling them that non-essential businesses were being asked to close down and were wondering if it was true, so we are trying to confirm whether it was true or not. “We don’t need the additional panic. There is enough truth out there to be concerned about. Stop inciting additional panic.” Explaining how her company plans to manage the COVID-19 threat, she said: “Our stores at the Cole’s of Nassau have been cleaning our surfaces routinely. We are

encouraging customers to use cashless payment options, and are trying to limit the times where a customer has to come into contact with one of our employees. “We are also asking them to put their own credit or debit cards into the machine and remove it themselves just to even limit the interaction on that level. We have also been putting limits on the amount of shoppers we allow into our store at one time. We have capped the amount of customers to three customers at one time. “But obviously, with larger stores, they can let more people in at a time. This three customers per time is just for Cole’s of Nassau based on our square footage inside of our store, but others are free to measure what they want to or limit how many customers if they want to.” Urging businesses to get “creative” during the COVID-19 “state of emergency”, Ms Morley added: “We have been implementing measures where you can shop socially off of our social media websites, where you can order the goods and then you can pick them up from our door once you have the appropriate identification. “We have ability to take cards over the phone. Just getting creative with this, so that way we can still find a way to support customers who are stuck at home.”

NOTICE NOTICE is hereby given that CHRISTINE STEPHANIE FRANCOIS of George Town, Exuma, 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 13th day of March 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Friday, March 20, 2020, PAGE 5

Construction starts to take ‘40-60% hit’ FROM PAGE ONE in acquiring the necessary materials and hiring contractors meant “normalcy” was unlikely to return until the end of the 2020 third quarter or beginning of the fourth at earliest. He suggested that many in the industry might find themselves out of work for at least a 60-90 day period, and urged the government to “right away” initiate multiple civil engineering and outdoor related capital works - such as roadworks - to help support the construction sector and wider economy as the COVID-19 fall-out continues to deepen. “Let’s accept the impact will be felt across all sectors,”

Mr Sands told this newspaper. “Some things will remain in construction. Construction projects that are underway and funded by the bank have to continue and have to mature. Banks have to complete the mortgage process before they get their money back. “The most influential and greatest impact to the Bahamian construction industry will be felt by new projects not going forward because of this pandemic. Monies will not be outlayed because of the uncertainty in the market, so I think new construction starts will be impacted but construction projects underway have to be completed. “I think we can realistically

expect new construction starts to take at least a 40 percent to 60 percent hit. If you have two persons, and each one of them is thinking of starting something or holding off, one out of the two will hold off.” Mr Sands, whose sector is one that will be allowed to open to customers between 6am to 7pm under the government’s new emergency COVID-19 order, said he had already experienced this trend. “A project I was supposed to start this week Monday was suspended for 30 to 60 days because of the uncertainty,” he added. “But a project I was already working on, the client said: ‘Carry on, I still have to move into my house whether impacted by the virus or not’. He said I cannot stop working on it.” But while ongoing projects will likely be seen through to completion, Mr Sands warned: “We’re going to see more and more tightening of

the market. A lot of people will be out of work for 60 days, but if they can hold on for 60-90 days they will be OK. “I think we’re looking at three to four months before everything settles down, bottoms out and starts again. I think it will be in the midthird quarter before we see normalcy again. The middle of the the third quarter. We’re only at the beginning of the second. It will be the end of the third quarter, beginning of the fourth quarter, before it starts to level out and returns to normal.” Mr Sands added that “anyone who says it will be anything earlier than that is not reflecting the dynamics of the construction industry”. He explained that it would take several months for construction materials supply chains to resume their smooth functioning, especially since key resources often had to be sourced from the most impacted markets

such as China and Italy. “You’re not going to be able to jump up and start again,” he told Tribune Business. “I think this is really going to impact us, but if we’re smart about it we can use this time for planning properly and making adjustments to the business model for future hit, and come out smarter, better than what we went in.” The former BCA chief said major foreign direct investment (FDI) projects, such as the $300m Grand Lucayan redevelopment and Disney’s Lighthouse Point plans were likely to proceed once the pandemic had passed. He urged the government to put Bahamian contractors to work on projects such as the Post Office demolition, roadworks and post-Dorian reconstruction as a means to shield the construction industry from the pandemic’s worst effects and keep money circulating in the economy.

Nygard’s fashion empire placed into receivership FROM PAGE ONE Wednesday, has moved swiftly to seek Chapter 15 recognition from the southern New York bankruptcy court so it can protect its assets from legal actions by creditors said to be owed a combined $60.551m. New York court filings seen by Tribune Business allege that White Oak and South Avenue’s loan arrangement with the Nygard Group ran into problems almost immediately after the deal was sealed on December 30, 2019. The lenders were to male “formula-based revolving loans not to exceed $40m” to Mr Nygard’s US companies, which were secured on his fashion empire’s assets and guaranteed by the Canadian operation. “Almost immediately after closing the credit facility, on or about January 3, 2020, the debtors committed various events of default under the credit agreement,” Richter Advisory alleged in court papers. The breaches, it alleged, included “providing the lenders with cash flow forecasts and funding requests that contemplated a cash need that was several millions of dollars in excess of the amount available pursuant to the credit agreement’s borrowing base calculation”. Richter Advisory added: “The lenders, with the assistance of Richter and despite limited co-operation from the debtors and their principal, Peter Nygard, made significant efforts to understand the debtors’ increased funding needs and potential solutions for the Nygard Group’s liquidity crisis. “In the midst of the foregoing, the lenders learned that Peter Nygard and several of the [Nygard Group’s US companies] had been sued in a class action lawsuit in the US District Court for the Southern District of New York.......

“The class action lawsuit alleges, among other things, that Mr Nygard raped and sexually assaulted multiple children and women, and that the [US companies] knowingly aided and abetted him in a decades-long sextrafficking scheme. “The debtors advised White Oak of the class action lawsuit nearly one week after its issuance, in breach of the credit agreement’s requirement that the Nygard Group promptly notify White Oak of any litigation that could reasonably be expected to result in a material adverse effect on the business.” Then came the FBI and New York police raid, and the loss of the Dillard’s account, where it “had refused current deliveries, cancelled all existing orders and suspended all future purchases from the Nygard Group”. Mr Nygard announced he would step down from his fashion empire, and sell it, the very same day. However, the fact that Mr Nygard and his fashion brand are virtually one and the same is likely to complicate any sale. The two are indivisible, and court documents obtained by Tribune Business reveal that the Nygard Group had sought protection from White Oak/ South Avenue and their other creditors under the Canadian Bankruptcy and Insolvency Act. The well-known Bahamas resident, who has been locked in a decade-long feud with his Lyford Cay neighbour, Louis Bacon, had even managed to hold off the lenders’ receivership bid in several Canadian court hearings. However, what appears to have sealed the present fate of Mr Nygard’s business empire is the assertion by A. Farber & Partners, the so-called “proposal trustee” supporting its bankruptcy protection application, that it “is not in a position to advise

TEMPLE CHRISTIAN HIGH SCHOOL ENTRANCE EXAMINATION 2020-2021 Temple Christian High School will hold its Entrance Examination on Saturday, March 21, 2020 at the school on Shirley Street from 8:30 a.m. to 12 noon for students wishing to enter grades 7,8,9 and 10. Applications forms are available at the High School Office. The applicationn fee is twenty-five dollars ($25). Application forms should be completed and returned to the school by Friday, March 20, 2020.

For further information, please call telephone number: (242) 394-4481 (242) 394-4484

that the Nygard Group is acting with good faith or due diligence at this time”. This was seized on by Oak White and South Avenue in their March 18, 2020, receivership application where they reiterated that Mr Nygard’s business was “acting in bad faith and continues to breach court orders”. Besides failing “to provide sufficient information” to A Farber & Partners, the lenders said Nygard Group had failed to come up with a plan to fund its operations after struggling to meet staff payroll. They added that the receiver was “urgently needed”, and accused Mr Nygard’s companies of “effectively stonewalling”. Giving an insight into the size of the tycoon’s business, the court documents state that besides its Winnipeg headquarters it has “offices in New York City, Shanghai (where its research and design teams are based), Los Angeles, California (where its US logistics operations are based), and Toronto (where its international sales and marketing team is based). “It has three distribution centres located in Los Angeles (leased), and Toronto and Winnipeg. The Nygard Group sources inventory from third-party garment manufacturers in Jordan, Bangladesh, Indonesia, Vietnam and China. The Nygard Group has multiple product lines and fashion brands, including Peter Nygard Collections, Bianca Nygard, Nygard SLIMS, ALIA, ADX, and TanJay. “The Nygard Group employs approximately 1,450 people worldwide, of whom approximately 100 are located in the US. The Nygard Group operates 167 retail stores in Canada and two retail stores in the US, and upon information and belief, supplied other retailers such as Dillard’s and Costco Wholesale Canada until recently.”

To advertise in The Tribune, contact 502-2394

Super Value’s ‘crazy panic buying figures’ FROM PAGE ONE He added: “We are importing so fast that we asked Customs if we could give them certified cheques. We are importing faster than they do the entries or check them, that’s what it’s going to come to. We’ve asked Customs to work with us. “We have five weeks of inventory in stock, and have ordered another 12 weeks on top of that to take it to 17 weeks. That’s three months coming in one month. We have a 105,000 square foot warehouse, and it’s going out faster than it’s coming in. “We can hold three times’ the inventory it has. We’re turning inventory so fast. We’re turning inventory faster than we can get it. We did run out of milk last week, and were running out this weekend, and had to order extra milk to come in on the weekend.” Mr Roberts said Super Value had already received 28 40-foot containers of perishable items for the week, and another ten were expected today. “I hope the country does well and it does not go further than this, although that’s unlikely,” he added of the COVID-19 pandemic. “Hopefully it soon dries up so we can get the economy back. I think things will bounce right back once we get the medical side sorted.”

wordseArch THE TRIBUNE

PAGE 6, Friday, March 20, 2020

JUDGE PARKER

G P I C N U T V G S C J M G J

CARPE DIEM

Daily Express Thursday, December 26, 2019

Puzzles

C G R H A U N J L X O Z E D V

S O B U R D H O V F B C A A O

W J O C C R G E G B T E C V U

B I Y K V A E J Q N E A A H M

I V S L N G L D U U I U C R B

V X E E Y O J R L N V L O M M

P K N W N O A B C E I N W N F

T H Z L P S E A I H O P A B W

H A T R P V P E C H E Z S R I W J C E H DX1ST T R D

Find all the berries listed below solution tomorrow

MARVIN

CRUSADER PRIZEACAI CROSSWORD ● BEAR ● BLACK ● BLU

BLONDIE

acrOss 1 Simple boy before note is heard in church (9) 6 Conceited face, after having succeeded (4) 10 Just scare fellow away (5) 11 Self-employed swimmer in European location (9) 12 Joan’s confused London area with centre of Silicon Valley (3,4) 13 Protein family has rate altered (7) 14 Sent a mild moan about monarch and beastly collection (6,7) 17 Acquiring new owner, giving other workers a go (8,5) 21 Fiend arranged no terms (7) 22 Associated wheel with neat movement (7) 24 Strain is obvious, European king included (9) 25 After hesitation, socialist strayed (5) 26 African leaders have utterly terrific utensils (4) 27 Maroon article originated off Trafalgar Square (3,6)

HAGAR THE HORRIBLE

TIGER

CALVIN & HOBBES

CRAN ● CROW ● ELDER ● GO

1 2 3 4 DOWN HUCKLE ● JUNE ● JUNIPER 1 Quiet continental takes scripture lessons to be LOGAN ● MARION ● NANN urbanite (8) 10 11 2 Fear gone, containing SERVICE ● STRAW gas (5) 3 That neon animal dances to official song (8,6) 12 4 Leaving summit when there’s little demand (3-4) 5 That woman adds potassium in drink to get 14 15 something pickled (7) 7 Not much time to operate ballistic missile (9) 8 Healthy food for 17wordseArch 18 politicians (6) Quick 9 He repulsed crossword the Danes, 20 and was terribly glad F N U W O R D S W thereafter (6,3,5) W R I O O V P N U Across: 21 15 Performing at home 1 Prodigal; 5 Taxi; 9 Ecru; I M O E L A O R A together (2,7) 10 chapter Twilight; 11 Evoke; L A K S T E E U C 16 Went up when finished (8) 12 Yanking; 13 Bring D S R I T S G B A together; Immunity; 24 18 Chap accepts weapon18 and E B L A K E R N R Idea;(7) 20 Lineage; something to19wear I C R P B N L E A 21 Among; 22 Deep; 19 Couple kiss first in formal attire (7) 23 Loophole. S W U Y E L G O V 20 Most upset, having down: nothing 26 S T R M O V 27H J C hot and mellow (6) 2 Recover; 3 Drunken; H O A R M I P I W 23 Rota devised4by a vital Always on the go; N A R E G I D Y T supplier (5) 6 Anguish; 7 Integer;

TUESDA

Atn l c E uE P

● The Target uses words in the main body of Chambers 21st Century Dictionary (1999 edition)

HOW many words of four letters or more can you make from the letters shown here? in making a word, each letter may be used once only. Each must contain the centre letter and there must be at least one nine-letter word. no plurals or verb forms ending in “s”.

Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level of the Conceptis Sudoku increases from Monday to Sunday

TODAY’S TARGET Good 19; very good 28; excellent 38 (or more). Solution tomorrow

call 0907 181 2585 for today’s target solution *Calls cost 80p per minute plus your telephone company’s network access charge.

bATTLESHIPS FIND where the fleet of ships shown is hidden in the grid. The numbers to the right of and below the grid indicate how many of the squares in that row are filled in with ships or parts of ships. The ships do not touch each other, even diagonally. Some squares have been filled in to start you off. Solution tomorrow 1

CRYPTIC PUZZLE Down 1 Came irregularly to day school for special studies (7) 2 Dirty room put in order for sleeping (9) 3 Disney character showing inarticulate love (5) 4 Spread all over the place - that was rough (6) 5 There’s a lot to be said for being so (7) 6 Turkish leader is against, but not this month (3) 7 Wood spirit (5) 12 The case for a charge (9) 14 A reason why the vessel was fast? (7) 16 Breed of dog that will change some day (7) 17 My ties are disposed to be an impediment (6) 18 I’m illuminated round the edge (5) 20 No head on the beer that is strange (5) 22 Change colour and pass away we hear (3)

Down: 2 Panacea, 3 Casts, 4 Amends, 5 Letters, 6 Sorts, 7 Adam and Eve, 8 Chancellor, 13 Preview, 15 Erasure, 16 Beaten, 18 Churn, 20 Beast.

Down: 2 Uncanny, 3 Theft,

9 Cabbage, 10 Monster, 11 Ahead, 12 Asylum, 14 Versus,

13 Uptight, 15 Seeming, 16 Upkeep, 18 Going, 20 Olden.

9 10

2 2

0 4 61

2 71

1 x Battleship

3 x Destroyer

2 x cruiser

4 x submarine

Across 1 Conjecture (5) 4 Permanent (7) 8 Performed (3) 9 Keen-sighted (5-4) 10 Unpredictable (7) 11 Belittle (5) 13 Poorly made (6) 15 Burning enthusiasm (6) 18 General purport (5) 19 Craftsman (7) 21 Stupid person (9) 23 Self-esteem (3) 24 Something left over (7) 25 Furry semiaquatic animal (5)

Across: 1 Run-through, 8 Cache,

7 Lead astray, 8 Come across,

Across: 1 Spectacles, 8 Cones, 9 Entered, 10 Accused, 11 Epsom, 12 Champs, 14 Astern, 17 Lucre, 19 Embrace, 21 Oculist, 22 Amuse, 23 Now and then.

4 Record, 5 Umbrage, 6 Heave,

Yesterday’s Easy Solution

22 Daisy, 23 Get-up-and-go.

Yesterday’s Cryptic Solution

17 Right, 19 Pioneer, 21 Shingle,

EASY PUZZLE

Across 1 Helped to put a new idea to a number (5) 4 Discloses that several changes need to be made (7) 8 Melody that supplies atmosphere (3) 9 Criminal intended to limit one’s credit (9) 10 Instalment on a television (7) 11 A movie prize means nothing to Mark (5) 13 A money changer who had a farm (6) 15 The suitor’s suit (6) 18 A better supplier of eggs (5) 19 More the sort of thing that has to be proved (7) 21 and 23 Across: The lightest of annual occasions (9,3) 24 Foot pedal that could be altered (7) 25 Not all honourable men do the right thing (5)

Down 1 Impious (7) 2 Warm bed covering (9) 3 Fragrant (5) 4 Bequest (6) 5 Inadequate in amount (7) 6 Climbing evergreen shrub (3) 7 Dizzy (5) 12 Wrinkles by the eyes (5-4) 14 Hard-wearing (7) 16 Malignant hate (7) 17 Unoccupied (6) 18 Banned as improper (5) 20 South American dance (5) 22 Communist (3)

A C Y K

Y N M Y

Z D U R

K C E H

J A W N

N H T E

I G S U

H D S N

THE ALPHAbEATER

TARGET

DENNIS THE MENACE

K C T E

8 Plunge; 13 Bridled; 14 Immense; 15 Genial; 16 Triumph; 17 Eternal.

cAn you crack the Alphabeater? Each grid Extra le tArget the AlphA number represents a letter – or black square. 0907 1 As injugulAted Alphapuzzle, every letter of the alphabet (Deduct thre Across: Embroil, C extra cl is used. Butaglet you ague have to complete the grid too! each Badinage, Vestry, S aged dale date deal use the below full sL Jetsam, Fountain, dealtgiven deltaletters duel and duetblack gale squares gate the grid to start. the grid ‘rotationally gated geld glade glueis glued jade Oilskin. 0907 1 symmetrical’ – in other words, itjute looks thedown: Become, *Calls cost 80p Pr judge jugate JUGULATED your telepho samelade if you turn theluge pagelute upside B late lead tale down. teal Trounce, Cowboy, network ac Jungle, Conduit, La Solution tomorrow Around (clue).

A 40 13 9 12 17 21 27 22 27 21 1 B C 22 34 29 4 20 16 2 9 40 6 12 D E 27 26 12 39 2 23 11 5 16 18 5 F G 19 10 1 31 19 8 3 33 3 17 30 H I 37 2 16 36 31 31 12 3 4 29 9 J K 18 10 2 24 20 22 17 1 38 8 15 L M 5 20 25 12 37 27 33 11 3 12 15 N OBest 34 described 12 31as 19 22 crossword, 18 30 the 8 task 29in Kakuro 21 31 a number Pis to fill all of the empty squares, using numbers 1 to 9, so the sum of each horizontal block equals the number to its2 Q 29 38 2 10 27 13 12 39 26 16 Rleft, and the sum of each vertical block equals the number its top. No number may be used in the same block more Son32 12 2 17 level 5 of 17 10 33 Kakuro 34 5 than once. 7The difficulty the Conceptis Tincreases from Monday to Sunday. U 33 17 23 1 9 21 14 38 27 26 2 V W 27 35 36 31 12 14 13 6 24 9 38 Yesterday’s Yesterday’s X Y 38 36 8Answer 19 31 24 36 19 2 17 28 Sudoku Kakuro Answer Z 1

■

30 31

34 35

■

● Alternatively, for six Extra Letter clues to your mob text DXbEAT to 84901. Texts cost £1 plus your usual oper

KEIjO 1 3 3

Place the fou numb diffe appea an

S to

THE TRIBUNE

Friday, March 20, 2020, PAGE 7

THE WEATHER REPORT

5-Day Forecast

ORLANDO

High: 89° F/32° C Low: 65° F/18° C

TAMPA

TODAY

TONIGHT

SATURDAY

SUNDAY

MONDAY

TUESDAY

Partly sunny, a shower; breezy

Mainly clear and breezy

Partly sunny, a shower in the p.m.

Partly sunny

Mostly sunny and nice

Mostly sunny and pleasant

High: 81°

Low: 69°

High: 81° Low: 70°

High: 82° Low: 70°

High: 82° Low: 69°

AccuWeather RealFeel

86° F

70° F

88°-70° F

87°-71° F

89°-75° F

90°-72° F

High: 86° F/30° C Low: 69° F/21° C

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

almanac

ABACO

High: 78° F/26° C Low: 72° F/22° C

8-16 knots

WEST PALM BEACH High: 85° F/29° C Low: 73° F/23° C

8-16 knots

FT. LAUDERDALE E

FREEPORT

High: 82° F/28° C Low: 74° F/23° C

High: 82° F/28° C Low: 69° F/21° C

MIAMI

High: 84° F/29° C Low: 73° F/23° C

7-14 knots

KEY WEST

High: 83° F/28° C Low: 75° F/24° C

ELEUTHERA

NASSAU

High: 81° F/27° C Low: 69° F/21° C

High: 78° F/26° C Low: 73° F/23° C

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

6:11 a.m. 6:33 p.m.

2.6 2.2

12:38 p.m. 0.2 ---------

Saturday

6:56 a.m. 7:17 p.m.

2.7 2.4

12:40 a.m. 0.1 1:20 p.m. 0.1

Sunday

7:37 a.m. 7:56 p.m.

2.7 2.5

1:25 a.m. 1:57 p.m.

0.0 0.0

Monday

8:14 a.m. 8:32 p.m.

2.7 2.6

2:06 a.m. 2:31 p.m.

0.0 0.0

Tuesday

8:49 a.m. 9:08 p.m.

2.7 2.6

2:44 a.m. 0.0 3:04 p.m. -0.1

Wednesday 9:23 a.m. 9:42 p.m.

2.6 2.7

3:21 a.m. 0.0 3:36 p.m. -0.1

Thursday

2.5 2.7

3:59 a.m. 4:08 p.m.

9:57 a.m. 10:17 p.m.

0.0 0.0

sun anD moon Sunrise Sunset

7:14 a.m. 7:21 p.m.

Moonrise Moonset

5:14 a.m. 4:22 p.m.

New

First

Full

Last

Mar. 24

Apr. 1

Apr. 7

Apr. 14

CAT ISLAND

High: 78° F/26° C Low: 73° F/23° C

8-16 knots

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 ................................................... 79° F/26° C Low .................................................... 73° F/23° C Normal high ....................................... 79° F/26° C Normal low ........................................ 66° F/19° C Last year’s high ................................. 84° F/29° C Last year’s low ................................... 70° F/21° C Precipitation As of 2 p.m. yesterday .................................. trace Year to date ................................................. 1.65” Normal year to date ..................................... 3.95”

uV inDex toDay

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 78° F/26° C Low: 71° F/22° C

High: 78° F/26° C Low: 72° F/22° C

High: 79° F/26° C Low: 73° F/23° C

LONG ISLAND

tracking map

High: 78° F/26° C Low: 73° F/23° C

10-20 knots

MAYAGUANA High: 79° F/26° C Low: 72° F/22° C

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

CROOKED ISLAND / ACKLINS

tonight’s lows.

RAGGED ISLAND High: 78° F/26° C Low: 73° F/23° C

High: 79° F/26° C Low: 73° F/23° C

GREAT INAGUA High: 82° F/28° C Low: 75° F/24° C

10-20 knots

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

Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS E at 8-16 Knots E at 6-12 Knots E at 8-16 Knots E at 7-14 Knots ENE at 10-20 Knots E at 8-16 Knots ENE at 10-20 Knots E at 10-20 Knots E at 8-16 Knots E at 7-14 Knots ESE at 8-16 Knots ESE at 6-12 Knots NE at 10-20 Knots ENE at 8-16 Knots NE at 10-20 Knots E at 10-20 Knots E at 10-20 Knots E at 8-16 Knots E at 10-20 Knots E at 10-20 Knots E at 7-14 Knots E at 6-12 Knots NE at 10-20 Knots E at 10-20 Knots NE at 10-20 Knots E at 8-16 Knots

WAVES 4-7 Feet 3-6 Feet 1-3 Feet 1-3 Feet 4-8 Feet 3-6 Feet 4-8 Feet 4-8 Feet 4-8 Feet 4-7 Feet 2-4 Feet 1-3 Feet 2-4 Feet 1-3 Feet 4-8 Feet 4-8 Feet 3-5 Feet 2-4 Feet 6-10 Feet 6-10 Feet 2-4 Feet 1-3 Feet 3-6 Feet 3-5 Feet 3-5 Feet 2-4 Feet

To advertise ALL your LEGAL NOTICES, call The Tribune’s Sales Department

502-2394

VISIBILITY 10 Miles 10 Miles 8 Miles 8 Miles 8 Miles 8 Miles 8 Miles 10 Miles 8 Miles 8 Miles 10 Miles 10 Miles 8 Miles 8 Miles 8 Miles 10 Miles 8 Miles 8 Miles 8 Miles 10 Miles 8 Miles 8 Miles 8 Miles 8 Miles 8 Miles 8 Miles

WATER TEMPS. 76° F 76° F 78° F 78° F 75° F 74° F 79° F 79° F 71° F 71° F 79° F 80° F 77° F 77° F 79° F 79° F 78° F 78° F 77° F 77° F 76° F 76° F 78° F 78° F 71° F 71° F

PAGE 8, Friday, March 20, 2020

Join Us!

You will be moving in the Right Direction

Secure Your Spot TODAY!

CALL: Charles Gaitor 502-2394 or EMAIL: cgaitor@tribunemedia.net

THE TRIBUNE

CALLING ALL: BREA Agents Contractors Landscapers Paint Suppliers Cabinet Makers Furniture Stores Alarm Companies Insurance Companies Financing Institutions

H ome Buyersâ€™ Guide The Tribune

The Bahamas Source For Homes, Condos, Apartments, Lots & Rentals