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Govt in ‘conundrum’ on rental assistance NIB ‘pumps DR NICOLA VIRGIL-ROLLE

$67m’ into local economy

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE National Insurance Board (NIB) “pumped $67m” into the economy during March, its director said yesterday, adding that it is having “good success” in progressing 2,000 stalled benefit claims. Dr Nicola Virgil-Rolle, speaking during a Zoom conference with the media, said the social security scheme had contributed significantly to keeping Bahamian families and the economy afloat during the COVID-19 pandemic via a mixture of benefits and $46m in pension payouts. She added that some 18,000 unemployment benefit claims, totalling some $8.7m, had been paid out over the past four weeks as NIB continued to chip away at the 2,000 claims that stalled because their former employers failed to provide the necessary insurable wage information on their C10 filings. That delays NIB calculating the amount of unemployment benefit a worker is due, but Dr Virgil-Rolle said: “In terms of the applications we have had good success with contacting employers, who have been willing to come in and supply the information - sometimes months of information - quickly as soon as they recognise the challenge it causes in calculating the insurable wage. “So whereas they would have submitted the B80 forms for their former employees, they did not realise how important having the actual C10 forms, which give us enough information to calculate the insurable wage, were.” She added: “We have had good success, and we have gotten through quite a bit of those. Of course, we have been insisting with the more recent ones that they be sent in electronically rather than in paper forms that come into us that we have to manually key in, which takes us more time. “I can say without having exact figures before me we have had some good success there in order to process them and get those coming into us. Our inspectors have been tremendous in going after companies to send in what was required, so I think that was a fruitful exercise doing that.” Stressing the importance of compliance, Dr Virgil-Rolle said: “This [the COVID-19 pandemic] has really brought home the importance of compliance, not just from a legalistic point of view, but because in times like these if you are compliant and you have done all that you need to do, and if you remain compliant and pay on time, you will be much more easily processed. “I think that we have also seen the importance of formalisation, in some of the new programmes we have. Having that business license and being

SEE PAGE 5

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HE government is facing “a real conundrum” in devising an effective rental assistance initiative because it would require the banks to “freeze” landlord loans, the deputy prime minister has admitted. K Peter Turnquest, responding to questions after a Zoom presentation to Old Fort Rotary Club members, said the involvement of three different parties in the tenancy chain represented “a huge challenge” in coming up with a relief programme that works. He added that a further difficulty facing the Minnis administration was the continued uncertainty over “where the bottom is” in the COVID-19 pandemic, and how much the provision of

• Banks must ‘freeze’ landlord mortgages to work • ‘Huge challenge’ on cost and when ‘bottom’ hit • DPM: GB cruise projects ‘still on but delayed’

K PETER TURNQUEST rental assistance to tenants will ultimately cost given that the government’s financial resources are already being strained to the limit with an $800m deficit now projected for this fiscal year.

Mr Turnquest confirmed that the government has appointed a committee to study, and recommend, how a rental assistance initiative can be implemented, but admitted “this is a huge challenge” given that individual, family and business tenants are all struggling to make due rental payments to their landlords amid the economic lockdown imposed to fight the virus. “The challenge for us in intervening in this is that we don’t know where the bottom is, and how many people require assistance,” the deputy prime minister added. “We have to look at it from both sides. “The landlord typically

has a mortgage on the property that depends on rental income to service it. If you say to the landlord that you have to give a 30-day or three-month moratorium on rental payments, you have to back that up with the bank giving him a similar moratorium.” Mr Turnquest added that the various COVID-19 customer assistance initiatives implemented by Bahamasbased commercial banks all involved loan deferrals that merely delayed the payment of due principal and interest payments until a later date when the pandemic has passed.

BAHAMIAN contractors yesterday conceded that re-opening the construction sector involves “a big risk” and “cannot be business as usual”, but argued: “Living with COVID-19 is the new reality.” Leonard Sands, the Bahamian Contractors Association’s (BCA) immediate past president, told Tribune Business this nation “cannot continue indefinitely with the country being locked down” as this was akin “to allowing the patient to live longer, but eventually they die”. Acknowledging that “not everyone shares” his view, Mr Sands said it appeared The Bahamas will have little choice but to balance re-opening the economy with the necessary health and safety measures and their enforcement otherwise “the entire country” will be

This newspaper understands that a group of Bahamian contractors, independent of the BCA, and individual operators have already written to the Minnis administration arguing that the restrictions imposed on the sector - especially in New Providence - as a result of the COVID-19 lockdown should be relaxed to allow the industry to resume work with the necessary safety protocols in place. The government on Sunday gave the go-ahead for Family Island construction to resume, and permitted the hardware stores supplying them to re-open from Monday to Friday between 7am and 5pm. However, the industry

‘Desperation’ sparks $20m loan rethink By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

remains locked down in the capital for the moment. Mr Pratt said the BCA was working with occupational health and safety specialists, including one of its board members who runs a sanitation and cleaning company, to develop training courses and standard health protocols to ensure contractors can both re-open and combat COVID-19’s threat. Arguing that most in the industry have already embraced a safety culture due to the nature of their work, Mr Pratt added that COVID-19 would require the sector to go further by ensuring work sites were clean; temperatures were checked before workers

SEE PAGE 4

SEE PAGE 5

• Admit re-opening carries a ‘big risk’ • But lockdown ‘can’t stay indefinitely’ • Sector can be ‘shielded’ from threat forced into the unsustainable situation of living off the government. Michael Pratt, the BCA’s current president, yesterday confirmed the industry body is currently canvassing the views of members to develop a position that will be presented to the government on how the industry can re-open. “We have a myriad of opinions,” he told Tribune Business. “While some contractors feel we should get back to business, others are saying we should be extremely careful as we don’t want an outbreak to harm the industry. We’re already short of workers, and don’t want to further damage the industry by putting them out front and not being fully prepared.”

MARK A TURNQUEST

GROWING “desperation” among his small business clients has prompted many of them into a rethink when it comes to applying for government assistance, a consultant has revealed. Mark A Turnquest, of Mark A Turnquest Consulting, told Tribune Business that zero income as a result of the COVID-19 lockdown had prompted several of his clients to overcome their initial reluctance and apply to the $20m Business Continuity Loan initiative. “I’ve found a lot of my clients who were initially reluctant are getting desperate and applying for the loan,” he revealed. “It’s desperation. The lack of money and the lack of sales. They’re trying to recover some of their expenses, and they’ve realised the benefits outweigh the costs of the five percent interest rate. “What the government’s giving on the loan, they realised they should take it and pay some fixed costs, because 90 percent of our clients’ rental payments are between $2,500 to $3,500 a month due to their size and location. A lot of them are in prime areas, and a lot of them are big stores with a great deal of inventory. “You’ll find a disproportionate number of people applying for the loan because businesses can’t create sales to they’re trying to cover their costs. They’ve realised they don’t have to start paying off the loan until after four months. If they receive the money in May they don’t have to repay until September, and hopefully they will be back in the game by then.” Mr Turnquest said his initial estimate that the Business Continuity Loan initiative would require at

Contractors: We have to live with COVID-19 By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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Union’s $150m alternative to civil service wages cut

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Government will be “shooting themselves in the foot” if they slash civil service salaries, a union chief has warned, arguing that three alternative measures can realise some $150m in savings. Kimsley Ferguson, the Bahamas Public Services Union’s (BPSU) president, told Tribune Business it would be “detrimental” to what remains of the Bahamian economy if the government were to seek across-the-board wage cuts for his roughly 20,000 members as they represent one of the few consumer spending sources left. While pledging that he would take the government “at its word” over its statements that no public service salary reduction is currently being considered, the Mr Ferguson added: “Where there’s smoke, there’s fire.” The BPSU, in a position paper seen by this newspaper, is arguing that the government should look to cut unnecessary spending from its budget as a first phase response to its fiscal

• BPSU chief: ‘Where there’s smoke, there’s fire’ • Salary slash for members ‘detrimental’ to economy • Taking government ‘at their word’ for now

KIMSLEY FERGUSON woes after revenue plummeted by 70 percent due to a combination of the tourism shutdown and national lockdown in response to the COVID-19 pandemic. The paper argues that the government could save some $60m if it “terminates the contracts for all consultants and special advisers” given that these are usually retirees or persons “paid outside of public service salary scales” whose roles could be performed by civil servants. The BPSU is also

suggesting that the government could save some $40m by “postponing subvention and marketing support payments” to major hotels and other private sector entities that have temporarily laidoff staff in response to the COVID-19 pandemic. It also suggested that the government could obtain $50m in much-needed extra funds by transferring surplus funds from bodies such as the Nassau Airport Development Company (NAD), the Bahamas Maritime Authority (BMA), Utilities Regulation and Competition Authority (URCA), Securities Commission and Insurance Commission back to the Public Treasury and Consolidated Fund. These three measures combined, the BPSU paper estimates, would give the government a combined $150m in much-needed fiscal headroom, although not all of the regulators and quasi-governmental entities

if references are thought to be so cash-rich. And tourism marketing efforts will have to quickly resume once the pandemic ends. Referencing previouslydenied claims that the government may seek to reduce civil service salaries to achieve a 20 percent spending reduction target, the union added: “Elements of the strategy disclosed to us by ministers appear short-sighted and ill-considered. “The classic response to a recession is for a government to increase deficit spending to offset the fall in aggregate demand, and the BPSU supports this approach. The proposed approach of the government to dramatically reduce spending - including remuneration to the public service workers - is not supported in modern economic theory and we fear this approach would create more hardship for the Bahamian worker.”

Both K Peter Turnquest, deputy prime minister, and Brensil Rolle, minister of national insurance and the public service, last week vehemently denied allegations by Philip Davis, the opposition leader, that the government is mulling civil service salaries as a means to cut spending in response to reduced revenues and ballooning deficits. While that may currently be the case, the $670m public service wage bill for 2019-2020 and $84m in budgeted allowances combine to make a total $754m, thereby making labour one of the government’s highest fixed-cost expenses. It still remains possible that it may be forced into seeking such cutbacks depending on how long the COVID-19 pandemic lasts and the speed with which the Bahamian economy recovers. Some observers will likely argue that the public sector should also share some of the private sector’s pain when it comes to the economic impact inflicted by the virus. Mr Ferguson, though, argued that there were “a

SEE PAGE 4

PAGE 2, Wednesday, April 22, 2020

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Colina ‘well placed’ against COVID-19 A BISX-listed insurer believes it is well-positioned “to withstand the uncertainties” associated with the COVID-19 pandemic after profits earned by equity shareholders rose 43 percent last year. Colina Holdings Bahamas, the life and health insurance parent, said an improved claims experience saw its bottom line jump to $17.6m compared to $12.3m in 2018. Total assets on its balance sheet grew by 4.4 percent to $793.3m at December 31, 2019, compared to $759.9m in 2018, due to an increase in the value of its various investments. Terence Hilts, Colina Holdings (Bahamas) chairman, said the underwriter’s 2019 performance had left it well-placed to ride out the COVID-19 economic fall-out.

“Our primary objective and commitment to our policyholders is that we fulfill our obligations to have the financial capacity and strength to pay claims as they become due,” he added. “We are pleased to see that we continue to have strong liquidity and capital ratios, which provide the company with the flexibility to meet these obligations in the regular course of business and, more importantly, in times of extreme stress. “Looking ahead, although these are unusual times, we believe that we are in a good position to withstand the uncertainties within this current environment. We will continue to focus on executing our growth strategies, enabling us to meet the financial needs of our customers.” Invested assets totalled $622.4m at 2019 year-end, comprising 78.5 percent of

the total on Colina Holdings (Bahamas) balance sheet. The insurer added that its focus on high-quality assets has resulted in an improvement in net investment income, with returns totalling $38.9m compared to $26.6m in the prior year. Colina Holdings (Bahamas) added that it has extended its service offerings to digital and online capabilities, thereby improving access to its products and services. General and administrative expenses totaled $35.8m, equivalent to 19.6 percent of total revenues, as opposed to $33.4m and 19.8 percent, respectively, in 2018. Total shareholders’ equity rose to $184.4m, an increase of $9.1m over the prior year. Ordinary shareholder equity grew to $141.9m, compared to $132.8m in 2018.

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THE Bahamas Telecommunications Company (BTC) has created a mobile digital identification card to make it easier for authorities to identify its essential workers during the COVID19 pandemic. Andre Foster, its senior director of technology operations, said: “BTC is in this together with our government, our employees, our customers and our communities, and we are committed to doing all that we can to assist, where necessary, with the fight against COVID-19. “As an essential services company we developed an innovative method of identification to easily recognise our core team members assigned to work during the restricted hours.” BTC said the digital identification cards provide the team member’s title, function and department. They confirm that the person

ANDRE FOSTER is an authorised COVID19 essential services team member. Each card has an active hologram, proving authenticity, along with the current date and time as a validity

check. The authorities are advised to only accept the BTC digital ID card as validation from core team members. It will eventually be provided to all 700 BTC staff.

THE TRIBUNE

Wednesday, April 22, 2020, PAGE 3

AUTO PARTS SUPPLIERS: ‘ONE DAY WON’T CUT IT’ By YOURI KEMP and NEIL HARTNELL Tribune Business Reporters AUTO parts suppliers yesterday said being allowed to open one day per week during the COVID-19 pandemic “is not going to cut it” based on the heavy consumer demand all experienced. William Bastian, Big Six Auto Parts’ general manager, told Tribune Business: “We really need more than one day. One day really doesn’t make much sense. I mean, it is good to open for one day, but I don’t see why we can’t open for one week. But it’s about time. We have been closed for like about five weeks. “It’s full. We can’t stop. It’s been busy all day. They are coming for all types of parts; basically everything. So we really should be open for more than one day. We still have people lined up outside now, and you really need like four days. “When they want to put the 24-hour curfew thing on then you can close. But

maybe Monday through Thursday would have made more sense, and then on Thursday night you close down for the weekend and then open back up on Monday. But it’s good to be open.” Michael Albury, Albury Supply Company’s general manager, added: “Hopefully he [the Prime Minister] is going to extend the opening more than one day. One day is not too much right now. We have our regular customers. Today is a little busier but we have been closed for three weeks. “The only thing is we need to be open longer, because one day a week is not going to do it. We are not laying off anyone, but we were able to make the [National Insurance Board] claims.” Dr Hubert Minnis, under the Emergency Powers orders, has permitted auto parts dealers to open only on Tuesday from 8am to 5pm. Long lines appeared outside businesses such as AID, WHIM Automotive

DPM tells entrepreneurs: ‘Don’t let this crisis pass’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE deputy prime minister yesterday said there were “no plans” for new or increased taxes to plug the government’s COVID19 fiscal holes, as he urged entrepreneurs: “Don’t let this crisis pass.” K Peter Turnquest, speaking to reporters outside the Cabinet Office, sought to reassure consumers and the private sector that tax hikes were currently not being viewed as the answer to a projected $800m fiscal deficit that

is expected to be “even worse” in 2020-2021. “There is no plan to go up on value-added tax (VAT) or any other tax at this point. We certainly want to try and manage this within the resources we have,” Mr Turnquest said of the government’s plans for the final quarter of the 2019-2020 budget period, which ends in July. Raising taxes at this point is likely not to even be on the government’s fiscal agenda given that it would further slow and undermine what little economic activity and consumer spending there is.

Tax credit initiative gains 45 applicants By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Department of Inland Revenue yesterday said it has received 45 applications to-date for the government’s $60m tax credit and deferral initiative designed to provide payroll support. Gaynell Rolle, the department’s acting controller, said: “We are still in the process of evaluating those applications, so at this time I won’t be able to give you a figure of what was the non-executive payroll of each of those companies. “The government has made provision for a tax credit and a tax deferral scheme that will assist employers with a turnover in excess of $3m annually, and a staff complement of 25 persons or more, to relieve some of the burden of payroll cost. “Each approved business has a monthly allocation of up to $200,000 for a period of three months - April, May and June - giving a cumulative total of some $600,000 in total.” Ms Rolle added: “The approved tax relief is to make available to businesses on a monthly basis a 50 percent

non-reimbursable write-off qualifying payroll expense the employer would have for that month. Secondly, to treat the remaining 50 percent as a deferred finance-free payment plan for payments that will not begin until January 2021. “In facilitating the process, businesses will be allowed to withhold any business license fees and, thereafter, any value added tax (VAT) that might be owing to the government in the amount of the monthly approved tax relief that we commonly called the ATR. “If the ATR is in excess of the current holdings, it can be applied at any future time. It is important to note, however, the ATR is calculated monthly based on the non-executive payroll. It is a 50-50 plan and not an object of either or a tax credit or tax deferral. The approved tax relief dos not have an expiry date for use by the business,” she said. “We consider businesses to be an ongoing concern, and we are optimistic about the rebound of the economy. We are in the process of evaluating in excess of 45 applications to-date, and project a turnaround of those applications within a five-day work period.”

and Bay Street Garage as consumers rushed to obtain essential parts for their vehicles for the first time in four weeks. Fred Albury, the Auto Mall’s principal, told Tribune Business that demand “was very, very strong” up until 2-2.30pm when it “started to taper off somewhat”. He added: “All in all it was a very busy day. We had people lined up on the outside with social distancing, and a man on the door to ensure everyone wore a mask when they got in. “It went very well. We had a lot of requests from people wanting their car serviced but that department is not open. One day a week is not going to cut it for consumers. Let’s see what this weekend brings, and what side of the bed government officials and the world wake up on with this virus. “Maybe more slack can be cut. It’s changing day by day, week by week, but the safety of our people and customers is paramount. I

think people have adjusted very well to wearing a mask, social distancing and all those measures necessary to get through. I think this is going to become a way of life for the foreseeable future.” Mr Albury conceded that he had “mixed emotions” about opening up for just one day, but was “pleasantly surprised” by the customer turnout. That included Bahamas Power & Light (BPL) personnel seeking parts for their vehicles and other essential services workers, as well as insurers seeking claims information after their clients were involved in a traffic accident. The Auto Mall chief added that Bahamas Motor Dealers Association (BMDA) members had already requested permission from the government to open their services departments, and expressed hope this would be among the net wave of loosened restrictions. Revealing that a Supreme

K PETER TURNQUEST Such hikes would also be relatively pointless at this juncture for much the same reason - the COVID-19 lockdown has brought all revenue-generating activities to a halt. However, new and increased taxes may be in play longer term when The Bahamas has to pay back the extra debt it will incur in saving the economy from collapse and the government’s related deficit spending. “Bear in mind this crisis is going to cause some significant loss in revenue to the government, as it is to individuals and to businesses,

and we are going to have to figure out how we are going to address that for the long-term,” Mr Turnquest added. “One thing that we cannot afford to happen is for us to amass significant debt that we saddle the future generations with. “We want to be careful about that, and be as responsible as we can with respect to that, but with the same token understanding that this is a difficult period. Coming out of this is going to be very slow. Job creation and job retention is going to be slow, and so this is not the time to be talking about increasing taxes.

Court judge was among those needing their vehicle serviced, Mr Albury added: “In our particular case we cam easily do it with minimal contact with customers and staff.” Meanwhile Dwayne Higgs, general manager of WHIM Automotive, told Tribune Business: “We haven’t been here for about four weeks, so we had the staff come in Monday and just clean up and organise. I laid out the ground works for them and told them masks, six feet apart, sanitising, and just laid everything out in a strict manner so they know what to expect. “Then we also marked the sidewalk with six feet apart. Today we had customers lining up from 5am. I looked at the camera at 6.30am and they were halfway down the building. But the system we have in place, we are letting in eight to ten people at a time, and the line was all the way down to our rear parking lot, but it is only taking about 30 or 40 minutes to

get inside.” Mr Higgs added: “People are looking for everything. People haven’t been able to service their car. So mostly every third sale is usually a service kit, which is your filters, your plugs and your oil, which you should do every three months or every 3,000 miles. But other than that it is your random parts that you need because your car is broken down. “People are making an effort and they are being courteous. They are staying six feet apart; they are listening. I got a security guard at the door in case anyone wanted to play stupid today, but I have to say we are incident free and I am happy with how the public is responding. They are understanding and co-operative.” Lachez Ferguson, general manager of Serac Auto Traders, said it was “so far, so good. It’s a lot of calls and persons asking for parts. We sell Japanese parts, so people are always calling and we never stopped answering them online.”

“We have to figure out some things, and make some adjustments, to ensure that we live within the means that the people have given to us. This is going to take a lot of creativity. It’s going to take some bold steps in terms of our stateowned enterprises, and how they operate to make them more efficient and less of a burden to the taxpayer. But as far as we are concerned, at this point we see no increase in taxes.” Mr Turnquest, meanwhile, called on Bahamian entrepreneurs to seize the moment and develop new, creative ideas for reviving the economy and job-creating growth. “Again, I just say to all those that are burning with an entrepreneurial passion: Do not let this crisis pass,” he said. “This is an opportunity to refine your effort, and to figure out new ways of doing things. Maybe some of the ‘big box’ legacy firms will find out they are trouble if they don’t adapt and change the way they do business and interact with the customers.”

“This is an incredible time for us, an historic moment, and we can either choose to retreat and say ‘woe is me’ or we can use this to create new opportunities for ourselves and for our country.” Again moving to smooth over the Prime Minister’s weekend criticisms of the private sector, where business owners were described as “soulless” and “heartless” for so swiftly laying-off persons amid the pandemic, Mr Turnquest said: “We have had conversations with the business community on Monday to talk about where we are and the realities of where we are, also to talk about the future and how we might go about restarting the economy and business here in the country. “We will continue to have dialogue as we refine our plans both in terms of the COVID-19 response but also as we look forward to the new budget in terms of 2020-2021, and which the private sector has been very helpful on.”

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PAGE 4, Wednesday, April 22, 2020

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Small business gets TOP OFFICIAL: GOVT HAS $11.2m COVID help ‘SUFFICIENT HEADROOM’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Small Business Development Centre (SBDC) has either approved or disbursed some $11.2m in financing to help micro, small and medium sized (MSMEs) businesses survive the pandemic. Davinia Grant, the SBDC’s director, told reporters that the $20m Business Continuity loan initiative targeted at MSMEs had produced “$9.8m in approvals, $1.4m disbursed in loans, and I would have to get back to you to tell you how much of that has been grants thus far”. She added: “Retail trade and services account for just under 45 percent of the total amount of requests. Total requests are just under $34m, and after that there is manufacturing and finance, insurance and real estate.”

DAVINIA GRANT The government has made available $5m in grants on top of the initial $20m to assist MSMEs in meeting their payroll obligations. The total package is worth $25m, with companies able to obtain between $5,000 to $300,000 from the $20m loan element. Approved MSMEs will have a fourmonth grace period before they start making payments. Ms Grant said: “The initial SBDC programme was a $5m-a-year programme. Then Hurricane Dorian happened, and a $10m programme was added on top of a $5m programme.

Now a $25m programme has been issued on top of a $10m programme on top of a $5m programme. “While the funding we have committed to provide to Bahamian MSMEs has grown exponentially, the complement obviously could not have grown at the same rate. That said, the SBDC even before COVID-19, recognised the need to move smarter.” Ms Grant said the SBDC is trying to “ensure that there is no more cannibalism within the programme”, and no reduction in help and assistance to entrepreneurs who originally sought the SBDC’s support before COVID-19. She added: “We can still help all of the various types of MSMEs with all of their needs.” Ms Grant said an online training programme for all MSMEs will launch in May to help adjust their business concepts due to COVID-19.

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Ministry of Finance’s top finance official yesterday said the government has “sufficient headroom” to meet its obligations despite the nationwide lockdown due to COVID-19. Marlon Johnson, acting financial secretary, told reporters via a Zoom conference that the government has the necessary financial resources to cover the various business assistance and unemployment benefit initiatives it has launched to cushion the pandemic’s impact. He added: “Obviously the impact of the full closure of the economy because of COVID is understandable, but certainly the month of April in particular we have seen a significant slowdown in revenue even on the domestic side. “We understand with tourism that is a slowdown,

MARLON JOHNSON but on the domestic side it is health and safety first. That’s notwithstanding that we do quite an amount of cash planning and cash management to ensure that we can meet the obligations.” Mr Johnson continued: “The simple answer is that, yes, we are going to have some heavy cash demands on government,

but we have planned for it and we are in a position where we can accommodate it. “Our plans obviously have changed, but so far we are able to cover our obligations and we are on a day-by-day basis to track where we are from a cash standpoint so the government can meet its core obligations.” Mr Johnson added: “The policy instruments have been put in place, millions of dollars have already been outlayed, and millions of dollars in support will continue to be funnelled to ensure that employment levels remain as vibrant as possible. “We are continuing our work with NIB (National Insurance Board), with the DIR (Department of Inland Revenue) and all of the relevant government agencies to ensure that we manage this particular unprecedented time in the Bahamian economy.”

Contractors: We have to live with COVID-19 FROM PAGE ONE

came on site; hand sanitisers were provided; masks worn; and social distancing observed. He said project managers will also need to organise their job sites such that sub-contractors, such as plumbers and electricians, performed their work with sufficient social distancing in carrying out interior work on buildings. “Don’t go after the profit line but protect the workers,” Mr Pratt added. “We have to make a decision. It’s a big risk and we don’t want to go out there believing it’s business as usual. We have to respect what’s going on with the health concerns

and how to deal with our workers. “The concern is that we do get something moving in the industry. There are a lot of people unemployed all over. The contractors, and workers who are there, these guys are concerned when the next job is coming in.” The BCA chief conceded that self-employed tradespersons, in particular, may not have made contributions to the National Insurance Board (NIB) and are now running into difficulties when it comes to obtaining unemployment benefits amid the COVID-19 pandemic fall-out. “That’s one of my major concerns for getting the industry going. That’s a

major risk to our economy,” Mr Pratt added. “We have to find a way to get it open and get it moving, and get money into their hands. They are under the radar for a number of reasons. It’s very expensive to do business in this country, so that may not have contributed to NIB and put that payment off.” Mr Sands, meanwhile, said he and other Bahamian contractors were closely watching how other countries were handling the re-opening or continuation of construction activity recognising the “new normal” created by COVID-19. “Other nations are looking at going back to work in a COVID-19 environment,” he told Tribune Business.

“I’m not saying that’s the position The Bahamas is going to take based on the fragility of its medical and healthcare infrastructure. But the world will have to go back to work with COVID-19. “There has to be a comprehensive strategic plan and enforcement to to make it work so that we don’t have an outbreak. That’s going to come in the next couple of weeks, as I don’t think anybody has a choice but to live with that reality. “I know everything is predicated on what the public health officials are saying. We have to be as cautious as possible as we don’t want to put lives at risk, but it’s recognising that there has to be some

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ALL SHARE INDEX: CLOSE: 2,137.83 | CHG: -2.78 | %CHG: -0.13 | YTD: -93.77 | YTD%: -4.20 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 10.60 3.64 5.10 10.88 8.15 16.99 9.40 4.25 15.21

52WK LOW 3.35 20.91 5.50 5.39 2.09 0.67 2.00 10.21 5.60 3.75 6.01 2.53 1.80 8.00 6.63 13.04 6.98 3.14 13.90

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 2.99 11.26 6.00 4.07 6.01 2.91 4.90 9.61 8.15 14.00 8.97 4.00 15.20

CLOSE 3.55 17.43 6.00 6.68 2.10 1.62 2.97 11.26 6.00 4.04 6.01 2.91 4.90 9.16 8.15 14.15 8.97 4.00 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 -0.02 0.00 0.00 -0.03 0.00 0.00 0.00 -0.45 0.00 0.15 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 15,000

1,000 556

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 -6.8 15.6 13.4 22.0 42.9 28.5 10.5 14.2 11.2 17.3 9.6 19.7 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% 2.97% 0.00% 14.91% 1.22% 3.58% 2.94% 3.82% 2.23% 3.00% 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% 0.94% 3.72% -3.46% 2.09% -0.11% 3.43% -3.33% 1.53% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% 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-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020

MUTUAL FUNDS 52WK HI 2.30 4.38 2.09 195.13 166.73 1.67 1.85 1.76 1.24 8.34 10.26 7.00 12.15 12.58 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.61 1.75 1.70 1.14 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 1.79 1.75 1.16 8.31 10.07 7.00 11.42 12.58 10.52 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

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

economic activity that can be shielded as best as possible and can continue.” The latest Department of Statistics report found the construction industry employed 19,500 persons, and Mr Sands argued that the sector “represents low hanging fruit and bigger numbers in terms of the rebound of the economy” than other businesses that have been allowed to remain open, such as pharmacies. He argued that the industry “adds more value”, especially since it has a tendency to absorb semiskilled and unskilled labour who immediately spend their weekly pay back into the economy, increasing the speed at which money circulates. Noting that the government’s emergency powers order had stopped several multi-million contracts in their tracks, Mr Sands said that while this was the correct action to have taken it was time to get existing construction projects moving again with the necessary precautions in place. “That is going to put money back into the economy and ensure persons are not overly encroaching on the social security system,”

he told Tribune Business. “Not everyone shares this view. I looked at what they’re doing in Canada, parts of the US. Georgia is about to open everything again. “You can say the governor of Georgia is crazy or he has the necessary policies and protocols in place to manage the economy as it re-opens. We have to put mechanisms in place to manage our economy with COVID-19 being the reality. “We cannot continue indefinitely with the country being locked down. It will shut down and stop. What we are really doing is we’ve allowed the patient to live longer, but he eventually dies.” Mr Sands admitted he “did not want to be in the Prime Minister’s position” regarding the “very difficult decision” he must make on when, and how, to re-open the economy. But he added: “Right now the entire country is flooding to the Government of The Bahamas for sustenance, and that’s already unsustainable. “There has to be a measured approach as to how we look at this and implement it. To me, it is a necessary evil.”

Union’s $150m alternative to civil service wages cut FROM PAGE ONE number of areas the government can explore before they give consideration to any reduction in salaries” beyond what was contained in the BPSU’s paper. He identified travel allowances, fuel allowances and non-essential capital works projects as issues that could be targeted for savings, as well as eliminating waste, inefficiency and corruption. “Given that a number of private organisations have laid-off staff it’s important money keeps circulating to keep the economy afloat,” the BPSU chief argued. “There has to be some spending of some sort, and some circulation of monies, and the benefit of that is the money is going to go back to the government via VAT, taxes and so forth. “The public sector can do it. To reduce public service salaries in any particular regard will be detrimental to the economy at this juncture. I don’t think we’re there to even giving consideration to it. It would be extremely detrimental for the government to do that. They’d be shooting themselves in the foot. “The government is going to have to do some borrowing and get money into the economy and keep it afloat. If the government reduces public service salaries it will put more people into the [unemploy-

ment] benefit lines.” Responding to the government’s salary cut denials, Mr Ferguson added: “For now I’m going to have to take them at their word. Wherever there’s smoke there’s fire, and the minister of finance [Mr Turnquest] in particular said there was no consideration given to reducing public service salaries.” Acknowledging that economic recovery may be some way off, Mr Ferguson said ministers and MPs would need to “lead by example” and accept matching cuts to their own pay should they ultimately elect to cut civil service wages. He urged the government to consult with the BPSU first if it decided to go this route, rather than act first and speak to those affected afterwards. “If we get to the point where there has to be a reduction in salaries, the government is going to have to put the books on the table and show us what is in the purse,” Mr Ferguson told Tribune Business. “There needs to be a more intimate interaction with unions in this country so they can have a clear understanding and decide along with the government what is absolutely necessary. We don’t need to take their word for it; we need to be able to see for ourselves.”

THE TRIBUNE

Wednesday, April 22, 2020, PAGE 5

Govt in ‘conundrum’ on rental assistance FROM PAGE ONE

This does not represent a waiver or forgiveness of the debt, as Mr Turnquest acknowledged by saying: “The interest continues to roll. That’s a real challenge figuring out that conundrum. “The government has a committee looking at that, and which will make recommendations to it, and see if we can get financial institutions to freeze loans for a period. I don’t know if that’s possible. We’ll see.” The deputy prime minister added that a rental assistance initiative could also be

NIB ‘pumps $67m’ into local economy FROM PAGE ONE

formalised has made the difference between a ‘yes’ or a ‘no’ in our processes.” Describing the two-tiered process NIB now has for unemployed persons, Dr Virgil-Rolle said: “We have the normal unemployment benefit. Benefits come as you have contributed to the NIB scheme over the years, and that’s a minimum of 52 payments, of which you have to have seven in the last 13 weeks. “We have been processing over the last four weeks

To advertise in The Tribune, contact 502-2394

exploited by those with the means to still pay their landlord the due sum, but he also pointed out that the Department of Social Services already provides such support to those truly in need. Tribune Business previously reported that commercial property landlords are “walking a very delicate tightrope” during the COVOD-19 pandemic by making offers of 50 percent rental discounts/ deferrals to ease the pain and retain as many of their existing tenants as they possibly can. Mr Turnquest, meanwhile, said the cruise line

many of these, and so our latest numbers we have are about 18,000 have now been processed with a payout of $8.7m.” She added, “We still have a few thousand left, and we are getting new claims from the Department of Labour. We are just making sure there are no duplicates there, but we are working on some claims we are getting from there. “Then, of course, we have a few thousand claims where we are processing through our compliance role where we have to seek the records from the employers, and where we have them in our system we post them for persons so they can be processed.” Dr Virgil-Rolle said NIB had received 7,771 applications for the government-sponsored self-employed benefit initiative, of which 4,117 have been approved 4,117 and 863 are pending. The remainder have been rejected. She added that the discrepancy between applications and approvals was largely due to persons sending in more than one submission, and those who have been denied reapplying for assistance.

investments being counted on to revive Grand Bahama’s economy “are still on” despite a global industry shutdown that has forced both Carnival and Royal Caribbean to raise billions of dollars in new capital to ensure they can survive the pandemic and emerge on the other side. Carnival said it had committed to investing $200m in developing its private Grand Port in Freeport, while the Royal Caribbean/ITM joint venture signed to acquire the Grand Lucayan resort - and redevelop Freeport Harbour - in a $300m deal just days before the cruise sector was

confined to port for what looks like being a duration of several months. “As we understand it, today those projects are still on although admittedly delayed, and we just hope they come through and we come to the bottom of this economic challenge relatively quickly,” Mr Turnquest said. One source familiar with the Grand Lucayan situation, speaking on condition of anonymity, said Royal Caribbean and Carnival would likely need a year after resuming cruising itineraries to make a move on their Grand

Bahama projects. “We’re hanging on by our finger nails, in my opinion, The Bahamas generally and the government, as far as the hotel is concerned,” they said. “They [Royal Caribbean/ITM] won’t be ready to do that for 12 months at least. They won’t be making money for at least that period. They’re going to lose billions as a result of this pandemic.” Mr Turnquest, however, voiced optimism that the Inter-American Development Bank’s (IDB) $170m in financing will eventually help transform The Bahamas into a renewable

energy leader. He added that the planned solar roll-out across the Family Islands would help reduce energy costs both there and in New Providence as the latter will “not have to subsidise” those locations any longer. “It’s a win-win all around,” the deputy prime minister said. “We’re making progress; a little slower than I would like, but we’re making progress. I think, at the end of the day, we will have a project that delivers value for the Bahamian people for years to come and we will become a leader in this technology for years to come.”

‘Desperation’ sparks $20m loan rethink FROM PAGE ONE least $50m in funding looked to be coming true after Davinia Grant, the Small Business Development Centre’s (SBDC) principal, yesterday said total applications worth some $34m had been submitted. “The apex is going to be $50m,” he added. “The surge will be going on. They need more money. They need to get an additional $30m to cover this because that’s a need for small businesses right now.” Figures supplied by the SBDC exactly one week ago showed that micro and small business (MSME) applications to the Business Continuity Loan programme were collectively seeking more than $32m in financial support to ride out the fall-out from the COVID-19 pandemic. Some $1.2m had already been disbursed to these companies at that date, with $5.5m worth of applications approved by the SBDC and the initiative’s lenders. The data showed 63 MSME applications had been

approved, with 563 completed submissions received and another 1,120 in a state of partial completion. The applications covered companies that collectively employ 2,656 full-time, and 664 parttime, workers. “It has surpassed the $20m expected,” an SBDC spokesperson said of the demand for the Business Continuity Loan initiative. “The government will make announcements regarding an increase once a decision has been taken. “We believe the impact will be significant, as it will allow businesses to maintain a favourable position with obligations during the economic shutdown and to brace themselves for economic recovery. Economic recovery recommendations will soon be finalised in consultation with the government and MSME stakeholders.” A breakdown of applicants by industry revealed that around one-quarter, or $8m, of the total financial assistance being sought relates to applications from MSMEs in the services sector. A further $6.334m,

or 20 percent, had been requested by those in the retail sector, and $6.881m by firms classified as “other” industries. Manufacturing applicants had sought a combined $3.23m, amounting to ten percent of the total, with those in finance,

YOUR

insurance and real estate and construction requesting a total $1.657m and $2.146m respectively. MSMEs in the wholesale industry, and transportation, communications, gas and sanitary services, had requested $1.68m and $1.282m, respectively.

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

PAGE 6, Wednesday, April 22, 2020

THE TRIBUNE

Arrow-words are like crosswords, but the clue inside squares on the grid. Write your a blank squares in the direction indicated b Soluti

wordSEarch JUDGE PARKER

O M R E L A P N S P T F G H N

CARPE DIEM

Daily Express Thursday, January 30, 2020

Puzzles

MARVIN BLONDIE

A T C Q S H K V N I R U T M A

A I R B A L A C O I G G E R L

L H H N Q A N G O L O B S I I

G V B R E S C I A M T G A A M

B H Y N J H V P A D O V A R F

B G X S F E C S T S R E A G I

C A T A N I A E C N E R O L F

I A G I I V A L T M W A O N K

U F C V E N L P R U T O U X F

C E W R E Q V A I E L N Q D P

N A O D E U W N E Y W E W I R

CRUSADER PRIZE CROSSWORD

HAGAR

TIGER

acrOss 1 Member takes key route around some trees (9) 6 Stop Usher covering work (4) 10 City can find a language (5) 11 Beat gold for winner (9) 12 I meant to arrange your first service (7) 13 Giant seen at socialist club (7) 14 Flower in church entry THE HORRIBLE has confused relative (13) 17 Family tie with Regency style – a product of movement (7,6) 21 Oil producer wasn’t honest about three points (7) 22 American chap has to enquire (7) 24 Pass gun on dish (9) 25 Man is outside in chains (5) 26 Common verb produces commotion (2-2) 27 Leave results in damage at the highest level (5,4)

CALVIN & HOBBES

Find all the Italian cities listed3 below 4in 1 2 DOWN 1 Everything that is, can Solution tomorrow change within union (8) 2 Graduate with article to 10 BARI ● BOLOGNA ● BRESCIA ● 11 C wash (5) FLORENCE ● GENOA ● MESSINA ● 3 Revival and complaint losing nothing for allMODENA ● NAPLES ● PADOV rounder (11,3)PALERMO ●12PRATO ● REGGIO CAL 4 Chat about that ROME ● TARANTO ● TRIESTE ● particle (7) VENICE ● VERONA 5 Fellows alternatively laugh, returning 14 15 candelabra (7) 7 For every one-time thespian (9) 17 18 8 Son tried different pace (6) 20 9 Good time with wordSEarch attorney, Quick mind-reader 21 croSSword and fanatic (14) N F D O L P H I N K I 15 Benevolent novice in grass D R K D E S I N O R H across: that’s ignited again (9) 1 Contraction; 9 Nib; R O U S D N A B M R A Dismantle; 11 Enemy; 24 A N H T K T K W F I N 16 His pony 10 somehow 13 in Massive; 14 (8) Induce; succeeded trance O T X L E O W N U Z B 16 Strict; 18 losing Realise; 18 Dieting drastically, B C B Q A L G N L E A 19 Tight; 20 Troubling; energy – 21 small news (7) K R F L I O B E S B C Woo; 22 Predominant. 19 Direct sound 26 C A B R G P K M C U K 27 down:(7) 2 Orb; 3lawful Today; to 4 Assume; 20 Finance finally I W M G E R N K U T S 5 Transit; 6 Obtaining; obtain (6) K L L X O E R D E T T Inferiority; 8 Delectation; 23 Heartless7 family admit K E L N J T S E E E R 12 Endeavour; 15 Cribbed; being familiar (5) 19 Tag on; S D S I G A F T V R O 17 Tedium;

YESTERdaY

21 Win.

J K S W J W E K Y F K D O G G Y P A D D L E T I U S M I W S U Y E

THE ALPHAbEATE

TARGET

f i t AGD i E r

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

targEt thE cAn you crack the Alphabeater? Each alphapuz grid Ex number represents a letter – or across: black square. iMplicatE Imagine, Trip, 09 Oxe Asample in Alphapuzzle, every the alphabet Desirous, Odious, Shoddy, camp cape clamp clapletter of (Ded Actual, Cou epicBut impact is clip used. youimpale have impel to complete the Ballyhoo, grid too!Bake,each Scandal. IMPLICATE lampletters leap leapt limp use the given and black squares below limpet maple pace pact pail pale down: Jinxed, Beacon, Faw the grid to peal start. the is ‘rotationally (clue), Overlap, Diodes, 09 Sch palm pate peat peltgrid petal B pica pile pilei –place plaice words, plait itVersus, symmetrical’ in other looks Azonal, the Turnout, *Calls Liquid, Alkali. you plat plate plea pleat tamp tape same if you turn the page upside down. ne temp tempi Solution tomorrow

A 9 34 32 32 11 36 17 25 32 39 B C 15 22 4 13 36 15 28 12 37 34 D E 5 3 32 36 37 35 27 20 34 17 F G 39 10 14 20 37 38 11 3 11 38 H I 6 34 8 7 38 39 11 15 8 13 J TODAY’S TARGET Good 18; very good 27; excellent 36 K 12 10 4 3 24 18 36 40 23 38 (or more). Solution tomorrow L M 1 36 34 11 13 7 10 14 20 5 call 0907 181 2585 N for today’s target solution Best described as a 39 number O 14 25 33 crossword, 30 37 the 32task34in Kakuro 5 24 *Calls cost 80p per minute plus your telephone is to fill P all of the empty squares, using numbers 1 to 9, so company’s network access charge. the sum of each horizontal block equals the number to its 26 25 7 Q 4 32 17 19 25 6 4 left, and R the sum of each vertical block equals the number on its top. No number may be used in the same block more 27 difficulty 40 10level34of the S 21 The 32 Conceptis 38 37 Kakuro 36 25 than once. T from Monday to Sunday. increases U 20 22 14 30 31 30 38 9 36 34 FIND where the fleet of ships shown is hidden V in the grid. The numbers to the right of and 34 3 1 36 14 26 4 W 5 16 7 below the grid indicate how many of the Yesterday’s Yesterday’s squares in that row are filled in with ships or X parts of ships. The ships do not touch each Y 17 11 15 14 18 20 15 32 36 37 Answer Kakuro Answer other, even diagonally. Some squares have Sudoku Z 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”.

DENNIS THE MENACE 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

bATTLESHIPS

been filled in to start you off. Solution tomorrow 2 3 4 5 6 7 8 9 10

1 A

CRYPTIC PUZZLE 1 A yard in front? (9)

2 Black magic? (5)

8 He’s riled perhaps but he

3 It simply makes you sick (6)

does nothing (5) 9 Young bounder (7) 10 Is put to a variety of uses in publications (6) 11 He believes in new tithes (6) 12 I’m the favourite one to go with a complaint (8) 15 They take steps to protest perhaps (8) 18 A Quaker may display it (6)

4 Remove it perhaps for

6 Big hand gets praise in the

7 Change one’s bank perhaps (5,4)

best suit (5,4)

do (4,5)

1 3

1 72

17 19

20 21 22

13 Stamp on a stamp (8)

14 With foreign money

16 Village tragedy (6) 17 Gale blows itself out to a smooth finish (6) 19 Work with a twitch in the eye (5)

Across

2 Accustom (5)

8 A select group (5)

3 Incorporate (6)

9 Trash (7)

4 Look like (8)

activity (6) 11 Infrequently (6)

Yesterday’s Cryptic Solution

Yesterday’s Easy Solution

Across: 1 Recover, 4 Hyena, 7 Noes, 8 Emigrant, 10 Writes down, 12 Choose, 13 Bypass, 15 Occupation, 18 Cheaters, 19 Sung, 20 Eland, 21 Dialect.

Across: 1 Go in for, 4 Realm,

reader (8)

7 Abet, 8 Blizzard, 10 All the

15 Reserved (8)

same, 12 Cogent, 13 Stable,

18 Astute (6)

Down: 1 Renew, 2 Creditor, 3 Remedy, 4 Highwayman, 5 Elan, 6 Antlers, 9 Persecuted, 11 Latitude, 12 Coracle, 14 Putrid, 16 Night, 17 Lena.

Down: 1 Guava, 2 Ideology,

15 Rendezvous, 18 Overlook,

Down

1 Agitator (9)

10 Excited

12 Dedicated

5 Expose falseness of (6) 6 An invented story (7) 7 Don’t worry (5,4) 11 Put apart from others (9)

20 In abundance (6)

13 Surpass (8)

21 Letter (7)

14 Astral (7)

3 Relish, 4 Razzmatazz, 5 Ajar,

22 Succession (5)

16 Compassionate (6)

6 Mediate, 9 Chancellor,

23 Act in violent

17 Time of danger (6)

19 Amen, 20 Scour, 21 Sky blue.

11 Abnormal, 12 Callous, 14 Odious, 16 Sense, 17 Veto.

frenzy (2,7)

19 Falter (5)

4 x submarine

2 x cruiser

3 x Destroyer

1 x Battleship

30 31

Y■

■■ 34 35

● Alternatively, for six Extra Letter clues to yo text DXbEAT to 84901. Texts cost £1 plus your usu

11 Integral part of one’s

excitement (7)

have a job to

mine (7)

about it turns wild with

23 Servicemen who

extra pay (8)

21 Is a good man able

22 Collect more pay (5)

5 The first edition paper (6)

20 Came in for the pictures (6)

to get a game? (7)

Down

EASY PUZZLE

Across

KEIjO 4 1 1

THE TRIBUNE

Wednesday, April 22, 2020, PAGE 7

PAGE 8, Wednesday, April 22, 2020

THE TRIBUNE

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 86° F/30° C Low: 69° F/21° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Sunny to partly cloudy

Partly cloudy

Partly sunny and breezy

Some sun; breezy, warm, humid

Clouds and sun, a t‑storm in spots

Variable clouds, a t‑storm in spots

High: 87°

Low: 75°

High: 86° Low: 77°

High: 88° Low: 77°

High: 88° Low: 76°

High: 88° Low: 75°

AccuWeather RealFeel

93° F

75° F

89°-80° F

97°-83° F

99°-83° F

99°-82° F

High: 88° F/31° C Low: 71° F/22° 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: 81° F/27° C Low: 75° F/24° C

6‑12 knots

High: 87° F/31° C Low: 77° F/25° C

4‑8 knots

FT. LAUDERDALE

FREEPORT

High: 87° F/31° C Low: 78° F/26° C

N E S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 86° F/30° C Low: 75° F/24° C

MIAMI

High: 89° F/32° C Low: 79° F/26° C

6‑12 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 88° F/31° C Low .................................................... 80° F/27° C Normal high ....................................... 82° F/28° C Normal low ........................................ 69° F/21° C Last year’s high ................................. 82° F/28° C Last year’s low ................................... 67° F/19° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ................................................. 2.91” Normal year to date ..................................... 5.79”

ELEUTHERA

NASSAU

High: 87° F/31° C Low: 75° F/24° C

High: 82° F/28° C Low: 75° F/24° C

KEY WEST

High: 87° F/31° C Low: 80° F/27° C

High

W S

6‑12 knots

Low

Ht.(ft.)

8:17 a.m. 8:38 p.m.

2.5 2.8

2:20 a.m. 0.0 2:26 p.m. ‑0.1

Thursday

8:52 a.m. 9:13 p.m.

2.4 2.8

2:58 a.m. 0.0 2:59 p.m. ‑0.1

Friday

9:28 a.m. 9:49 p.m.

2.4 2.8

3:36 a.m. 0.0 3:32 p.m. ‑0.1

Saturday

10:04 a.m. 10:26 p.m.

2.3 2.8

4:14 a.m. 4:07 p.m.

0.0 0.0

Sunday

10:42 a.m. 11:05 p.m.

2.2 2.8

4:53 a.m. 4:43 p.m.

0.1 0.0

Monday

11:22 a.m. 11:49 p.m.

2.1 2.8

5:35 a.m. 5:23 p.m.

0.2 0.1

Tuesday

12:09 p.m. ‑‑‑‑‑

2.1 ‑‑‑‑‑

6:22 a.m. 6:10 p.m.

0.3 0.2

sun anD moon Sunrise Sunset

6:41 a.m. 7:36 p.m.

Moonrise Moonset

6:38 a.m. 7:24 p.m.

New

First

Full

Last

Apr. 22

Apr. 30

May 7

May 14

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 82° F/28° C Low: 74° F/23° C

High: 83° F/28° C Low: 75° F/24° C

High: 85° F/29° C Low: 76° F/24° C

W S

LONG ISLAND

tracking map

High: 83° F/28° C Low: 74° F/23° C

Ht.(ft.)

Today

High: 81° F/27° C Low: 73° F/23° C

4‑8 knots

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

tiDes For nassau

CAT ISLAND

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

6‑12 knots

MAYAGUANA High: 84° F/29° C Low: 76° F/24° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 82° F/28° C Low: 77° F/25° C

High: 82° F/28° C Low: 75° F/24° C

GREAT INAGUA High: 85° F/29° C Low: 78° F/26° C

4‑8 knots

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

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS NE at 4‑8 Knots SE at 10‑20 Knots NE at 4‑8 Knots SE at 8‑16 Knots NNE at 6‑12 Knots ESE at 10‑20 Knots SW at 4‑8 Knots E at 8‑16 Knots NE at 6‑12 Knots ESE at 8‑16 Knots NE at 6‑12 Knots SSE at 10‑20 Knots NE at 6‑12 Knots ESE at 8‑16 Knots SW at 4‑8 Knots ENE at 8‑16 Knots NW at 4‑8 Knots E at 8‑16 Knots SW at 4‑8 Knots E at 8‑16 Knots ENE at 6‑12 Knots ESE at 8‑16 Knots W at 4‑8 Knots E at 8‑16 Knots NE at 6‑12 Knots ESE at 10‑20 Knots

WAVES 2‑4 Feet 4‑7 Feet 1‑2 Feet 2‑4 Feet 1‑3 Feet 3‑6 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 3‑6 Feet 1‑3 Feet 3‑5 Feet 1‑2 Feet 1‑3 Feet 1‑2 Feet 2‑4 Feet 0‑1 Feet 2‑4 Feet 2‑4 Feet 4‑7 Feet 1‑2 Feet 2‑4 Feet 0‑1 Feet 2‑4 Feet 1‑3 Feet 3‑5 Feet

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502-2394

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles

WATER TEMPS. 81° F 81° F 84° F 85° F 77° F 77° F 82° F 82° F 80° F 80° F 81° F 80° F 84° F 84° F 83° F 82° F 82° F 81° F 81° F 81° F 82° F 82° F 81° F 81° F 80° F 80° F