business@tribunemedia.net
TUESDAY, AUGUST 17, 2021
$5.10 Back to school with little sales bump
By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net RETAILERS are holding their breath for a bump in sales stemming from whatever form schools reopen next month. Uhura Woodside, manager at Nassau Stationers, told Tribune Business that sales have not picked up the way it normally would have in the past, but it is a “little bit more than what it was” compared with recent months and 2019. “Things are coming, though,” she said. “One school opened up today so we have seen a little increase due to that school reopening.” “We are not certain of what the government schools are doing. So we have to wait and see.” The government’s value added tax (VAT) holiday for back-to-school supplies started yesterday and will continue until September 6. Alannah van Onselen, ShopLocal’s co-director, said: “We are in the heart of back-to-school preparations, and as parents purchase the needed supplies, we encourage them to think and shop local first. “More than a year after the onset of COVID-19, it is more critical than ever to provide our economy with the reinforcement it needs. ShopLocal and our participating merchants are committed to keeping the message alive and building on our efforts to promote the many reasons why shopping locally benefits us individually and collectively. “We have launched a social media contest, encouraging people to tag us in their photos of them shopping at local merchants for a chance to win a $250 gift certificate. In addition to our efforts, we are most encouraged by the community stakeholders who have joined this movement. “Some banks are now offering added incentives to their customers who shop local, and the government has introduced several Vat holidays that encourage shoppers to spend their money at home. We salute these efforts and encourage more organisations to drive home the importance of supporting the local economy by shopping at home by offering incentives and rewards that promote it.” Donnetta Burnside, store manager at Bahamas Office and School Supplies (BOSS), also said: “It’s a
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Haiti’s troubled history may slow aid to earthquake victims By HALELUYA HADERO AND GLEN GAMBOA Associated Press
H
UMANITARIAN aid is flowing into Haiti following Saturday’s deadly 7.2-magnitude earthquake. However, the Caribbean nation’s political unrest, as well as an approaching tropical storm, is complicating efforts. Nonprofit groups and philanthropy experts say the assassination last month of Haitian President Jovenel Moise, as well as accusations that money raised following the 2010 earthquake in Haiti never reached those in need, will make fundraising for the nation even tougher. Art delaCruz, CEO of Team Rubicon, a nonprofit that deploys emergency response teams to work with first responders in disaster areas, said the first briefing his teams in Haiti and the Dominican Republic had with support teams in the United States was about security. “The assassination of the president, the almost gang-like existence there, it really increases the risk to organisations like ours that deploy into this situation,” delaCruz said. However, Team Rubicon, which was
A WOMAN sleeps outside her home in Saint-Louis-du-Sud, Haiti, yesterday, two days after a 7.2-magnitude earthquake struck the southwestern part of the country. Photo: Matias Delacroix/AP founded in 2010 by Marines Jake Wood and William McNulty in response to the 2010 earthquake in Haiti, has experience on the ground in the country and in similar situations around the world. “It’s dicey for everyone because the information is incomplete and the situation is dynamic,” delaCruz said. “One way we have a competitive advantage on this is we are an organisation where 70% of the volunteers are veterans. They have seen this kind of
an environment.” Nate Mook, CEO of World Central Kitchen, cited the need for adaptability as well. He was in Haiti’s capital Port-auPrince yesterday, managing the nonprofit’s efforts to combat food insecurity following the earthquake, but found that its transportation system was needed to bring injured people to the hospital. “We’ve been really focusing, not just on food, but also how we can support our local partners,” he said.
“We’ve spent a lot of time here. We know how to navigate the complexities.” Haiti inspired chef Jose Andres to found World Central Kitchen following the 2010 earthquake and the nonprofit has maintained a presence there, opening a culinary school in 2015 that is now one of two bases of operations to provide thousands of meals a day. “People are hungry and they’re getting desperate and that creates instability
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Port Authority initiatives sees new micro-business growth By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net NEARLY 200 new microbusinesses are licensed to do business in Freeport following two initiatives launched by the Grand Bahama Port Authority earlier this year. Derek Newbold, senior manager of business development at GBPA, reported that they welcomed 195 new micro-business licensees up to this July under their Micro Business Licence (MBL) and Business Diversity Waiver (BDW) initiatives. He stated this included 125 permit vendors who were grandfathered into the programme, 55 traditional businesses and 15 innovative businesses approved through the BDW. Mr Newbold indicated the BDW licencees operate in diverse sectors including agriculture and fisheries, hospitality/tourism, entertainment, education, retail,
DEREK NEWBOLD industrial-related, health and wellness, real estate, and export. The MBL licencees have enabled growth in the agriculture/fisheries, tourism, food, and microretail sectors. In March, GBPA launched the initiatives to continue to provide opportunities for small business entrepreneurs to launch new, innovative and diverse businesses in the community. Mr Newbold said they continue to receive interest from Bahamians. “Since the launch of these initiatives in early March 2021, GBPA has received a significant number of
inquiries, including individuals from Nassau and the Family Islands,” he said. The Grand Bahama Chamber has on record 216 members for the year 2021. Of that number, there were 20 new members with small and medium-sized businesses. The government has assisted many Bahamians in becoming entrepreneurs through grants available via the Small Business Development Centre (SBDC). While speaking at the virtual GB Business Outlook Conference via Zoom in April, Minister of State for Grand Bahama Kwasi Thompson indicated that more small businesses would help with the island’s recovery. He said the government reinforced its commitment to the small business sector. “The success of micro, small and medium enterprises (MSMEs) keep our islands alive. It is in this vein that this government has prioritised initiatives
to empower small business owners through the Small Business Development Centre’s Access Accelerator,” he said. He said the government allocated some $50m for the SBDC this fiscal year alone. The minister also reported that some 192 businesses in Grand Bahama had benefited up to April, representing a total of $1.8 m injected into MSMEs. Mr Thompson had also noted more and more businesses have begun to shift to technology and digitalbased services. “Lessons from Hurricane Dorian as well as the unprecedented onset of the pandemic made this shift almost a necessity for our local businesses. The government has taken the position to encourage businesses to continue this trend as we aim to digitise our services and improve the ease of doing business and efficiency in our country,” he stated.
$5.28 President Widodo says pandemic changed Indonesia’s culture By NINIEK KARMINI Associated Press
INDONESIA’S president pledged to improve COVID-19 testing and treatment in a speech yesterday marking the country’s independence and said the pandemic has changed Indonesian culture in ways that would be a foundation for advancement. Wearing masks, not shaking hands and avoiding crowds of people were once taboo, while working from home, distance learning, online meetings and online court have become new habits “that we used to be hesitant to do”, President Joko Widodo said in the national address marking the country’s 76th anniversary of independence. “Amid today’s disruptive world, the spirit to change, the spirit to make changes and the spirit to innovate have become the foundation to build an advanced Indonesia,” Widodo said. “With the COVID-19 pandemic, the acceleration of innovation has become an integrated part of our everyday lives.” Only half of the 711 lawmakers and senators were in Parliament for Widodo’s speech on the eve of Independence Day, with the rest attending remotely in a social-distancing measure. The world’s fourth-most populous country hit peaks last month with daily highs of 50,000 new cases, more than five times the usual highs in June. July was also the deadliest month, with more than 30,100 deaths from COVID-19 as sick people overwhelmed hospitals or died at home or while awaiting care. Its totals of 3.8 million cases and 118,833 fatalities are considered undercounts due to low testing and poor tracing measures in the nation of 270 million people. Widodo said almost all regional leaders are working hand in hand to address health and economic problems and his administration would improve on-the-ground management in testing, tracing, treatment and vaccination as well as provision of medical oxygen. “The availability and affordability of medicines should be guaranteed and there is zero tolerance to anyone who obstructs our humanitarian and national missions,” Widodo said. Once the country’s COVID-19 epicenter, Jakarta has been seeing declines in both active cases
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Japan ekes out economic growth in recovery from pandemic By YURI KAGEYAMA Associated Press JAPAN’S economy grew at an annual rate of 1.3% in the last quarter, raising hopes for a gradual recovery from the painful impact of the coronavirus pandemic. The Cabinet Office reported Monday seasonally adjusted gross domestic product, or GDP, the sum of the value of a nation’s products and services, grew 0.3% in April-June, marking a reversal from the 0.9% contraction in the previous quarter for the world’s third-largest economy. The annualised rate is how much the economy would have grown or contracted had the on-quarter rate continued for a year. Underlining growth for April-June in Japan were private consumption, rising at an annual rate of 3.4%, and private residential investment, which grew at
PEOPLE wearing protective masks to help curb the spread of the coronavirus walk at Ginza shopping district, in Tokyo. Japan’s economy grew at an annual rate of 1.3% in the last quarter, raising hopes for a gradual recovery from the painful impact of the coronavirus pandemic. The Cabinet Office reported yesterday seasonally adjusted gross domestic product, or GDP, the sum of the value of a nation’s products and services, grew 0.3% in April-June, marking a reversal from the 0.9% contraction the previous quarter for the world’s third largest economy. Photo: Eugene Hoshiko/AP an 8.6% annual rate. Exports jumped at an annual rate of 12.3%, as Japan benefited from the ongoing overseas economic revival from the pandemic
damage. Imports surged 21.9%. Some analysts had expected the Japanese economy to continue to contract, given recent negative
data about housing and investments. Uncertainty remains because of the rising cases
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