By KHRISNA RUSSELL

Deputy Chief Reporter

krussell@tribunemedia.net

EMBATTLED HeadKnowles Foundation co-founder Lia Head-Rigby maintained she committed no impropriety after crowdfunding giant GoFundMe told The Tribune she withdrew, but did not transfer, more than $200,000 in donations to the hurricane relief organisation.

In an interview with this newspaper yesterday, Mrs Head-Rigby insisted money went quickly post-Hurricane Dorian as she spearheaded relief efforts in the United States. The funds that the donors gave, went to massive use here in Florida, she said.

(It went) to push relief to Grand Bahama, Abaco, and Nassau from the Miami Mayors Office, pallets of relief on the Betty K that went to New Providence Community Centre, to the 800 plus flights, including Medevac flights, passenger flights, animal rescue flights and cargo relief flights.

We spent that $200k fast as it should have been.

Asked if the expenditure of these funds was documented, she said: I have everything documented audited by the CPA.

On Thursday, GoFundMe said it will donate $217,645 to the HeadKnowles Foundation.

The pledge signalled its support for Gina Knowles who has sued Mrs Head-Rigby and her husband to recover the funds in question.

GoFundMes Director of North America Communications Bobby Whithorne in a statement accused Mrs Head-Rigby of allegedly withdrawing funds that she did not send to the foundation as mandated.

His statement to The Tribune came after Ms Knowless suit was filed alleging the couple have withheld Hurricane Dorian GoFundMe donations. Mrs Head-Rigby denied the allegations in the lawsuit last week, saying her hands are clean.

The GoFundMe campaign attracted nearly $1.5m in donations since the deadly September storm.

Mr Whithorne said because the organisations payment processor, WePay, does not support direct transfers to the Bahamas, the funds were transferred to Mrs Head-Rigbys US Bank of America Account and were then supposed to be transferred to the HeadKnowles Foundation locally.

To be clear, more than one million dollars raised was transferred from Lia Head-Rigby to the benefiting organisation named on the fundraiser, the HeadKnowles Foundation, Mr Whithorne said.

Lia Head-Rigby withdrew but then did not transfer $217,645 to the HeadKnowles Foundation. In the interim, WePay froze the remaining balance of $246,483, he said.

The statement continued: In order to protect GoFundMe donors, GoFundMe will donate $217,645 to the HeadKnowles Foundation while they try to recover the funds from Lia Head-Rigby. We encourage WePay to release the remaining $246,483 directly to the HeadKnowles Foundation. Our goal is to make sure every dollar donated is transferred to the HeadKnowles Foundation, as was stated in the campaign. GoFundMe will continue to work with all parties involved to help resolve the matter. At this point, the remaining balance is with WePay.

Mr Whithorne said his company prefers sending funds directly to organisations, but cant do that for Bahamas-based groups because of the limitations of WePay.

The money raised must be transferred to a bank account located in the US, and then transferred to the account of the Bahamas, he said.

GoFundMes priority is to fully protect all donors on the platform and to ensure the money raised goes to the intended use, in this case to the HeadKnowles Foundation for hurricane relief in the Bahamas.

It is unclear if the suit will spark any investigation, if any, by the Office of the Attorney General. Up to press time The Tribune was told that no action had been filed in New Providence.

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'I used Dorian donations where they were needed' - Bahamas Tribune

Deltec Bank, Bahamas says Future of Banking Must have a Robust Focus on Technology Evolution

The rise of challenger banks in the United States and parts of Europe are causing the banking industry to evaluate its future. These newcomers are customer-focused, user-friendly, and comfortable to operate. That means companies like T-Mobile and Goldman Sachs can implement services outside of the traditional banking model through fintech.

Modern cryptocurrency and fintech opportunities allow banking industry challengers to specialize in areas that can be underserved by the more prominent institutions. That issue creates a dilemma for the traditional bank. When customers transfer an account, they typically move everything from the old institution to the new one.

Losing one customer means losing everything that the consumer provides to the institution.

58% of consumers state that they prefer to work with local or territorial banking providers. The preponderance of banking customers like this approach because they say it offers them access to a personalized experience with better customer service.

How Can the Big Banks Compete in the Future?

If a majority of todays banking industry customers favor using the localized approach, then that means 42% of consumers want to work with the large, national-level banks in the industry.

According to Deltec Bank, Bahamas- Customers aspire to work with a comprehensive institution because it provides them with a better digital experience or additional online capabilities. When one looks at the possibilities of cryptocurrency and fintech in that light, then large corporations may have a competitive edge over the neighborhood institution.

If the smaller banks and credit unions do not continue to advance digitally, then their challenger status ceases. That means the institutions that are willing to take risks, manage their assets intelligently, and concentrate on research and development are going to see the most progress in the future of the banking industry.

Personalization Is Still a Problem for the Banking Industry

D3 Banking Technology worked with The Harris Poll to speak with Americans about how likely they would be to recommend their financial institution to family members and friends. The questionnaire determined that 74% of this population group would offer a positive evaluation of their bank or credit union, with 82% citing the customer service experiences they receive as the reason for their testimonial.

That same survey discovered that over 60% of customers want their bank to anticipate their economic needs.

These results indicate that a framework to handle massive data loads from consumer interactions will be necessary for the future. It is the only way for the information consumers provide to their institutions becomes useful.

Even as cryptocurrency options expand and digital transformation protocols become more frequent in the financial industry, the preference remains on the local bank or credit union. Most consumers want to work with a bank that is right down the street. Instead of a name that they see on the computer that feels meaningless, the neighborhood institution becomes a place of refuge for their assets.

Customers move to the challenger banks when their local institutions cannot provide the right service level or offer access to desirable digital features. Then people move to the national names in the banking industry when that option also fails.

These are the reasons why the future of banking must have a robust focus on technology evolution. The banks or credit unions that can provide service automation, need anticipation, and straightforward access to money in the customers preferred format will be the institutions that see the most business opportunities.

Disclaimer: The author of this text, Robin Trehan, has an Undergraduate degree in economics, Masters in international business and finance and MBA in electronic business. Trehan is Senior VP at Deltec International http://www.deltecbank.com. The views, thoughts, and opinions expressed in this text are solely the views of the author, and not necessarily reflecting the views of Deltec International Group, its subsidiaries and/or employees.

About Deltec Bank

Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients unique needs. The Deltec group of companies includes Deltec Bank & Trust Limited, Deltec Fund Services Limited, and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management.

Media ContactCompany Name: Deltec International GroupContact Person: Media ManagerEmail: Send EmailPhone: 242 302 4100Country: BahamasWebsite: https://www.deltecbank.com/

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Deltec Bank, Bahamas says Future of Banking Must have a Robust Focus on Technology Evolution - Press Release - Digital Journal

DISNEY are to begin work on their new private island in the Bahamas for Disney cruise passengers with plans for nature trails, beachfront restaurants and spa centres.

Lighthouse Point will be the second private island for Disney, following the success of Castaway Cay.

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The new island will be exclusively for Disney cruise passengers when it opens in 2023.

It was first announced in 2019, with $400m (309m) of work on the island of Eleuthera in the Bahamas to start this year.

The island will be "inspired by the natural environment and celebrate the culture and spirit of The Bahamas" according to their website, with new images showing the plans for the resort.

In the images, restaurants and entertainment venues with curved roofs are surrounded by palm trees and vegetation, with many leading out onto the family beach.

A water play area connected by wooden boardwalks is spotted behind the huts, with plans for spas and conservation facilities on the island as well.

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An art and culture centre as well as public cabanas will be built on island the with two family beaches and nature trails.

Imagineer Joe Rhode explained: "To make this authentic we have to do this together with Bahamian artists and Bahamian thinkers and people from the Bahamian country.

"There are storytelling experiences, they'll be musical experiences, they'll all come together to make this very unique vibrant, colourful art."

Disney's first private island Castaway Cay first opened in 1998, and was the first private island in the cruise industry.

There is even a 5k Disney race on the island, as well as an adults-only beach called Serenity Bay.

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Disney announced plans of their new Disney Wish ship last year with Princess Rapunzel featuring on the stern.

Cinderella's Castle at Disney World is also getting a makeover this year, with pink turrets and gold accents.

You can also stay at a 17-bedroom Disney-themed mansion just 15 minutes from Disney World for 47pp per night.

Read more:

First look at Disneys new private island Lighthouse Point in the Bahamas - The Irish Sun

By FARRAH JOHNSON

fjohnson@tribunemedia.net

OVER two dozen local law enforcement and health officials were trained in victim identification techniques during a three-day training workshop led by the United Kingdoms Disaster Victim Identification (DVI) Unit Specialists.

In a statement Friday, the British High Commission revealed that the UK police team trained more than 30 local officials in response to the countrys request for assistance in the aftermath of Hurricane Dorian.

The UKs Disaster Victim Identification (DVI) Unit Specialists returned to The Bahamas this week to carry out the training session with the Royal Bahamas Police Force and officials from across the health and law enforcement community, the statement said.

It said: Superintendent Pete Sparks of the Metropolitan Police praised the professionalism and commitment of the teams he had met here and in Abaco last year. He said, the techniques we have been discussing today can be used in many casualty situations. The key is for the different teams to take the same systematic approach.

In the statement, British High Commissioner Sarah Dickson also noted that the similarities between UK and Bahamian officials made it easier for the two police forces to work together.

Ever since the Minister of Health, Dr Duane Sands, rang me last September it has been an area of cooperation between our two countries. I am pleased this Interpol standard work continues to happen.

Speaking at the presentation of training certificates ceremony today, Acting Commissioner of Police Paul Rolle stated that the RBPF is committed to ensuring our police workforce is well-equipped to deal with emerging threats and future needs. He further said that, I am sure that we will reap the benefits from (the training) as we seek to identify the remaining and new discoveries of skeletal remains from Abaco, Grand Bahama and other areas of The Bahamas.

The three-day course, which took place at the police training college from February 18-20, included classroom based training and practical exercises.

Those in attendance were trained in action to collect and log evidence; managing working in difficult situations and mass casualty situations.

According to the release, the collaboration came from a conversation between Health Minister Dr Duane Sands and the British High Commissioner in the immediate aftermath of the hurricane.

Detective Superintendent, Peter Sparks QPM, and Police Manager Howard Way, OBE, visited The Bahamas in September and discussed support needs with the authorities, according to the statement.

This has led to the delivery of this disaster victim identification course for investigators.

Follow this link:

Law enforcement and health officials in victim identification workshop - Bahamas Tribune

February 21, 2020

NASSAU, Bahamas Annunciation Greek Orthodox Church in the Bahamas, together with the Greek Orthodox Archdiocese of America, hosted Feb. 20, the Executive Committee of the National Council of Churches USA (NCC) as well as local Christian leaders for prayer and fellowship. The gathering followed the sentiments of the late Ecumenical Patriarch Athenagoras, who promoted people of diverse backgrounds simply coming together to get to know one another.

The evening opened with the service of Compline, led by Rev. Irenaeus Cox, followed by a reception wherein the Parish Council President, George Maillis, welcomed the participants and spoke about the Orthodox Christian community in the Bahamas, including their ongoing hurricane relief efforts. John Dorhauer, Chair of the NCC, provided an overview of the mission and vision as well as programmatic work of the organization. Finally, participants spent time discussing ways the various Christian communities in the Bahamas might cooperate on social issues and outreach.

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Originally posted here:

Ecumenical Gathering with the NCC USA at Annunciation GOC in Bahamas - All Archdiocese News - Greek Orthodox Archdiocese of America

A country estate in Nassau, on the Bahamian island of New Providence, once owned by the Duke of Windsor and Wallis Simpson, hit the market last month for US$8.5 million.

In 1939, the Duke of Windsor relocated to the island with his American socialite wife, Wallis Simpson, for whom he had given up the British throne for three years previously, to start his new role as the governor of the Bahamas the following year, according to listing agent Mark Hussey of Damianos Sotheby's International Realty, the estate agency marketing the home.

On arrival, they spent three months at Sigrist House while Government House, the official residence of Governor of the Bahamas, was renovated, according to Mr. Hussey.

Damianos Sothebys International Realty says the property is managed by historians from Canada but it did not disclose the name of the owner. Mansion Global could not identify the owners.

More: Co-Founder of Tory Burch Buys Miami Beach Estate for $14.2 Million

Positioned on a ridge outside Nassau, overlooking Cable Beach, Goodmans Bay and the Atlantic Ocean, Sigrist House, which is set on four acres of private grounds and gardens, is one of the finest estates in the Bahamas, said Mr. Hussey, who added that many dignitaries have stayed in the property over the years.

In addition, the property, which was built in the 1930s by British aviation pioneer and movie producer Frederick Sigrist, has James Bond connections. Frederick Sigrist was married to PrincessFredericka BoGuirey, who later married Kevin McClory, known for adapting the literary character of James Bond for cinema and for producing Thunderball in 1965. The West Indies estate has also featured as the backdrop of a number of the Bond films, according to Mr. Hussey.

The Spanish colonial style 15,000-square-foot main residence has original 1930s interiors with open fireplaces and full wood-paneled rooms, giving it a distinctly British feel. Four of its fireplaces were imported from British country homes, and the Honduras white mahogany wall paneling in the great room and office was taken to England for milling and then reassembled in Nassau, according to the propertys sales brochure.

From Penta: Worldwise: L.A. Chef Walter Manzkes Favorite Things

Rooms have 12-foot ceilings and flow out onto terraces and a loggia with arched openings, allowing for indoor-outdoor living. In the grounds, there are lush flowering tropical gardens with fruit and coconut trees, a pool and hot tub, all with views over the manicured grounds and the Atlantic Ocean beyond.

The property, which comprises a main residence with four bedrooms, two four-bedroom guest houses, a three-bedroom apartment and four acres of private grounds recently went through an extensive restoration. The electrical and plumbing systems have been modernized and brought up to todays standards, the roofs have been replaced, and the historical wood and ironwork has been restored, according to the propertys sales brochure.

The estate sits on the north side of New Providence, just outside Nassau, the capital city of the Bahamas. Beaches, shopping and other amenities at the Baha Mar Resort and Casino are within short walking distance.

Read more from the original source:

Bahamas Estate Once Home to the Duke of Windsor and Wallis Simpson Hits the Market - Mansion Global

The beauty of selling The Bahamas is that within this 700-island nation there is always something advisors can find to lure clients to its many shores. If plans need revising, as when nature packs a punch somewhere in the archipelago, it is easy enough to change course and land your clients in a new slice of Bahamian paradise.

Working together with the islands of The Bahamas, which sees increasing numbers of visitors each year, Travel Agent Academy created a Bahamas Specialist training program in which youll learn an effective sales strategy: know the most popular islands by name and tell the stories that distinguish them.

Such emphasis on select individual islands (16 altogether) sets up advisors for success in matching clients including couples, families, friend groups and wedding partiesto properties and experiences, and in responding adeptly to change. For graduates and newcomers alike, its always worth visiting travelagentacademy.com to see why The Bahamas keeps attracting visitors and to learn how best to serve them.

The Best-Known Spots

The course amply covers favorites such as Nassau/Paradise, home to glamorous resorts, casinos, nightlife and Junkanoo parades; and Grand Bahama, with its emphasis on history and relaxed elegance. You will also learn much about treasured Out Islands such as:

Exumas: Known for especially clear waters, swimming pigs, regattas and ultra-exclusive resorts

Eleuthera & Harbour Island: Offering amazing dive sites, pink-sand beaches, pineapple fields and colonial architecture reminiscent of Marthas Vineyard

Bimini: A favorite escape for Ernest Hemingway, boasting big-game fishing as well as lively eateries, nightlife and a casino

Further Afield

For clients seeking to go more off-grid, heres just a sampling of what youll be able to suggest:

Cat Island: Sydney Poitiers boyhood home, secluded Cat Island offers history, unique music, tasty cuisine and miles of pink-sand beach

Ragged Island: A birdwatchers paradise!

Acklins & Crooked Island: A pristine tropical oasis awaits.

Mayaguana: Unspoiled Mayaguana features fly fishing, diving, snorkeling and footprint-free beaches that stretch on and on.

Numbers to Celebrate!

The Bahamas reported a record-breaking 7 million visitors in 2019, continuing a decade-long trend of increasing tourism, and has recently won accolades from publications like the New York Times.The Abacos is continuing its recovery from Hurricane Dorian last September, while at press time Grand Bahama reported that 84 percent of its resorts have reopened.

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Sell the Resilient and Alluring Bahamas - TravelPulse

With the NBA at the All-Star break, several players around the league began their time off from basketball by taking a much-needed rest with friends and family on vacation.

Several players on the Boston Celtics got together for a trip to the Bahamas.

Celtics center Vincent Poirier posted a photo on Twitter Sunday night of the trip as rookie teammates Grant Williams and Carsen Edwards were among those that went.

Of course, the trio of players was not involved in the festivities of All-Star Weekend so they got a head start on their week off by having some fun in paradise.

Williams has emerged as a key player for the Celtics this season. Though he is only averaging 3.8 points and 2.7 rebounds per game, Williams often does the dirty work on the court and has given head coach Brad Stevens a solid defensive option against opposing big men.

As the trio of Celtics players return to their team this week, the group will be looking to secure its place among the top three in the Eastern Conference as they currently sit third with a 38-16 record.

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Grant Williams vacationed with Carsen Edwards, others in the Bahamas - The Rookie Wire

NASSAU, BAHAMAS The Bahamas has already satisfied over 30 of the 40 Financial Action Task Force (FATF) recommendations and continues to take the appropriate measures to ensure that The Bahamas adheres to international best practices, Deputy Prime Minister and Minister of Finance K Peter Turnquest said yesterday.

Turnquest spoke at a Bahamas Financial Services Board (BFSB) Financial Crime and Tax Enforcement Seminar.

At every level, The Bahamas is doing its part in the global effort to tackle harmful tax practices and dismantle artificial tax practices, he said.

We have worked diligently to demonstrate our commitment at the highest political level. The same applies to our efforts with financial crimes such as tax evasion and money laundering. Just this week, the FATF Plenary is in session in Paris, and the Attorney General is leading a delegation to represent The Bahamas.

The FATF is considered the global standard-setter in combating money laundering and terrorism financing.

Turnquest stated that for better or better or worse, The Bahamas is part of a global multilateral process by which national governments collectively review, investigate and prosecute financial crimes and non-compliance matters.

It is incumbent upon us to be at the forefront of industry developments and proactive in our efforts to secure and strengthen our position as a global financial center, he said.

He noted that this week the European Union announced that The Bahamas was removed from its tax watch list, as itsEconomic and Financial Affairs Council completely removed The Bahamas from its List of Non-Cooperative Jurisdictions for Tax Purposes.

This is confirmation that The Bahamas has implemented the necessary reforms to meet the EU criteria on tax governance and cooperation on tax matters. It is confirmation that The Bahamas financial services industry is stable and governed by a sound regulatory regime.

The Bahamas was placed on the EUs Annex II greylist in March of last year.

While different from the more serious Annex I blacklist, The Bahamas was still subject to ongoing monitoring by the EU with respect to the implementation of economic substance requirements.

With the EUs decision this week, The Bahamas has addressed all of the concerns on economic substance, removal of preferential exemptions and automatic exchange of tax information, Turnquest continued.

The Government welcomes the decision and the positive impact it should have on growth to investor confidence in the industry.

He also noted that taxation of the digital economy is the next frontier for global regulatory reform.

In fact, at the G20 Riyadh Summit later this year, nations with some of the largest economies in the world are expected to vote in support of a new system of taxation rights allocation, Turnquest said.

The new system intends to prevent multinational companies from diverting taxable income to low tax jurisdictions by imposing minimum tax levels on their global income. There is no doubt, the introduction of a global minimum corporate tax rate will have an impact in the medium and long term on all countries, including The Bahamas. It will have future implications for our participation in the global economy.

Now is therefore the time to plan and prepare so that we can exercise influence, and better adapt to the new possible realities, he added.

Link:

DPM: Bahamas has already satisfied over 30 of 40 FATF recommendations - EyeWitness News

After a trip to the Carribean, Boston Celtics shooting guard Jaylen Brown is ready to get back to work, but it wasnt all beaches and sightseeing for the fourth-year player.

Spending the All-Star break in Cuba and the Bahamas, the Cal-Berkeley product headed to the a meeting of the NBAs Player Association (NBPA) in the Bahamas an interesting counterpoint to the backdrop of the 2020 All-Star Games in chilly Chicago.

Brown was actually in the Bahamas for business, joining other NBPA executives and members of the players union for NBA basketball players to conduct their yearly business.

The meetings, organized by the NBPA and the Bahamas Ministry of Tourism brought Brown to the tropical location, in the second year of his three-year term serving as the youngest vice-president in the NBPA.

The 6-foot-6 wing was elected one of several new vice presidents of the NBPA in 2019, along with Malcolm Brogdon of the Indiana Pacers and Bismack Biyombo of the Charlotte Hornets.

In an interview with the Boston Heralds Steve Bulpett, the Marietta native downplayed the business side of the trip, stating he, did some traveling.

I went to Cuba, went to the Bahamas for the Players Association and things like that. I just got some rest, some mental rest. I hung out with family and friends. Now Im ready to get back with the team and its all basketball from this point on.

At those meetings, former teammate Kyrie Irving joined the Executive Committee, which also includes Andre Iguodala (First Vice President), Anthony Tolliver (Secretary-Treasurer), Bismack Biyombo, Malcolm Brogdon, Jaylen Brown, CJ McCollum and Garrett Temple (all Vice Presidents).

After the NBPA meetings, Brown headed on to Cuba, where he linked up with Cuban musician Arnaldo Rodrguez to tour the Lucecita Cultural Project, reports ADN Cuba.

The Cultural Projectdescribes itself as an artistic initiative with community character, and features a number of musical productions, murals and other artistic endeavors on the groups Facebook page.

After seeing the Project and several component workshops, Brown and Rodriguez shared an authentic creole dinner at the Talisman Studios Headquarters Restaurant, promising to return.

Done tending to business in paradise (with a little tourism thrown in), the former Golden Bear now turns his attention to the final stretch of the season before the playoffs in the bitter cold of the northern U.S.

Even though the Minnesota Timberwolves will be without star center Karl-Anthony Towns, Brown still sees the game as of high importance.

Its super important Its about us continuing to get better, cleaning up some of our habits and starting to make sacrifices and stuff necessary to get ready for the playoffs.

Its the first game back. Everybodys different in that regard. Some people went places; some people didnt. Some people its like riding a bike and some people its not. I think everybody is a little different, he continued.

For us, weve got to find the right rhythm out there and find ways to win, added Brown, alluding to the importance of not only maintaining the chemistry which has bound such a complex group of individual personalities into the most cohesive unit seen n the franchise since the Banner 17 era.

So Im looking forward to it, noted the 23-year old, wise far beyond his years.

Weve got (28) games until the playoffs. Each and every one means something, so lets get it going, offered Brown.

This coming Friday evening on February 20th, the Celtics will do just that, kicking off a four-game west coast road trip to start their return to action against the Wolves.

Even without point guard Kemba Walker who will rest with knee soreness after perhaps staying in the 2020 All-Star Game a bit longer than he should have the game should be a great opportunity to continue the momentum thats led the team to the NBAs fourth-best record.

The best is yet to come, said Brown.

He very well may be right.

Read more here:

Recharged by the Caribbean, Jaylen Brown says the best is yet to come - Celtics Wire

Swimming with pigson a beautiful Bahamas beach sounds pretty ideal right about now, which is why we can't hate in the least bit on rapper Machine Gun Kelly who happenedto be doing just that while soaking up some sun atMeeks Patch Island recently.

Joined by the real-life Ace Venturahimself Brother Nature (seen above), MGK took some time away fromgiving his fans sex toys on Valentine's Dayin order to enjoy clear waters for a bit while swimming with little piglets.Meeks Patch is famous for the wild pigs thatinhabit the area, which you can also feed and pet. Kellywas also joined by his drummerR00Kinaddition to fitness modelSommer Ray, andit also appears that reality star Draya Michele was down there as well based off the last photo in his IG post and her own recent pic on the 'Gram that she used to promote Fashion Nova digs. All we can is that it must be really nice to be amongst such good company we'rereferringto the pigs, by the way!

Peep Machine Gun Kelly's epic tripto the Bahamas to swim withBabe and his squeaking friendsbelow:

Link:

Machine Gun Kelly Swims With Pigs While Vacationing In The Bahamas - HotNewHipHop

The governor of the Central Bank of the Bahamas (CBOB) says the digital Sand Dollar pilot project will be expanded to all of the countrys islands beginning in Q2 2020.

According to a report by local publication The Tribune, CBOB governor John Rolle has confirmed that the Bahamian digital dollar will be launched on all islands in Q2 2020. The test pilot, titled Project Sand Dollar, has been limited to the island of Exuma since December, with the central bank planning to address the Bahamas Chamber of Commerce and Employers Confederation on the initiatives development.

Rolle explained that the CBOB currency was originally planned for launch in the Abaco region before switching to Exuma.

The Tribunes report claims the central bank is still in the process of enrolling all of the 1,200 citizens who signed up for the project in Exuma, with an additional 2,000 expressing interest in the initiative,

Rolle stressed that the new currency is a digital equivalent of the existing Bahamian dollar, rather than a tool for speculation.

Were looking at a digital representation of our currency. Its not a different currency; its the same currency. In law, it will never be different. It cant differ in value in any way or the other so Sand Dollars can never be priced different from Bahamian dollars.

Excerpt from:

Bahamas: Digital Sand Dollar Expands - The St. Kitts-Nevis Observer

(Bloomberg) -- The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands.

The government will probably borrow about $500 million in coming months as it deals with the roughly $3.4 billion in losses and damages from Hurricane Dorian, said K. Peter Turnquest, the Caribbean nations finance and deputy prime minister. The government is weighing options for how it will raise the debt, with some combination of an international bond sale and local borrowing likely, he said.

Dorian sat over the Bahamas in early September, killing dozens, causing widespread flooding and ripping apart thousands of homes and businesses. The storms aftermath has wrecked the governments fiscal plans, as it faces a slowing economy and the costs of reconstructing the islands so they can withstand the types of massive storms that have wrought devastation across the Caribbean in recent years.

In pure dollar terms this is absolutely the worst possible outcome and worst loss that weve ever seen, Turnquest said in a telephone interview. It is presenting a monumental challenge not only in terms of meeting reconstruction needs and costs but also for rebuilding in a way that is resilient and that will meet the anticipated frequency and severity that is being predicted as a result of this climate crisis.

The storm destroyed parts of Grand Bahama and Abaco islands, which sit about 100 miles east of Florida in the Atlantic Ocean and make up slightly less than a fifth of the tourism-dependent $12 billion economy. A revenue shortfall of about $230 million for the fiscal year ending June 30 and roughly $300 million in new spending is derailing its plans to cut debt levels.

Read more: As Climate Change Fuels Storms, Time to Leave Coasts?: QuickTake

The country was on a path to reduce debt to 50% of gross domestic product by 2024 from around 59% in 2018 by a steady tightening of budget deficits. Now, deficits are widening, and debt is expected to hover above 60% of GDP until 2024, according to government projections.

Despite the disastrous storm, Bahamas debt returned 16.4% last year, ahead of the Bloomberg Barclays Emerging Markets USD Sovereign indexs 13% return, according to data compiled by Bloomberg.

The government expects significant progress in rebuilding damaged areas this year, but it will take about three years before theyre full restored, Turnquest said. Reconstruction spending and inflows from insurance claims should help boost economic growth.

A handful of major foreign investment projects remain on track, including a Disney Island Development Ltd. facility worth between $250 million and $400 million, and one of Carnival Corporations largest cruise ports, planned for Grand Bahama, according to a government economic plan.

Still, the government needs more investment and technical assistance to help it rebuild in a way that makes the islands less vulnerable to future storms, Turnquest said. Among other things, it wants to construct resilient infrastructure, renewable energy generation, disaster-resistant shelters, and to implement a payment system that will leave residents less reliant on cash, he said.

We are looking to the international community not to turn away from this issue but to commit and invest and help us figure this out, he said.

To contact the reporter on this story: Ezra Fieser in Bogota at efieser@bloomberg.net

To contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, Brendan Walsh

For more articles like this, please visit us at bloomberg.com

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Bahamas Storm Toll: $3.4 Billion Loss and Years of Rebuilding - Yahoo Finance

Its still common to think of the Atlantis Paradise Island resort in the Bahamas as a single entity, with its iconic twin towers connected by a soaring arch and surrounded by a sprawling, lost-world themed waterpark, Aquaventure, complete with waterslides emerging from a stepped pyramid and plunging riders through an aquarium tank full of toothy sharks.

That part of the resort, now called the Royal hotel, still stands at the center of the property, but over the years the Paradise Island has expanded to include six distinct resort properties, all occupying hundreds of acres of prime beachfront and complemented by an ever growing array of activities and amenities, including a casino, marina, golf, and animal-encounter programs.

Each resort has its own unique character, with more than 3,800 guest rooms aimed at appealing to nearly every type of Nassau-bound traveler:

The Royal When the Atlantis resort debuted in 1998, this property was where all the action and excitement reigned. In many ways this remains the nexus of Atlantis, housing the resorts huge casino and many of its top eateries (including Todd Englishs Olives and Nobuyuki Matsuhisas Nobu). Its also the closest hotel to the 154-acre Aquaventure waterpark, and The Dig (a fantasy archaeological of the ruins of the list city of Atlantis) begins right in the hotel lobby, making the Royal the logical choice for families with children as well as gamblers. Proximity comes with a price, however, and the Royal remains one of Atlantis deluxe-tier hotels.

The Reef For a family beachfront vacation, consider the Reef. This luxury, residential style high-rise hotel has easy access to Paradise and Cove beaches, spacious suites with well-equipped kitchens, and is close to the Dolphin Cay animal-encounter program, the resort spa, tennis, and fitness center. And of course you still get access to Aquaventure and all of the other Atlantis amenities.

The Cove Located next door to the Reef, the Cove has a totally different vibe, starting with the fact that this high-end resort is for adults only. Considered the most upscale of the Atlantis hotels, the Cove has open floorpan rooms with balconies and oversized bathrooms, all at a peaceful remove from the bustle of the casino floor and the waterpark. If youre seeking a serene corner at a mega resort, this is your place. (Its also home to the outstanding Fish by Jose Andres).

The Harborside Resort With colorful low-rise, village style hotel buildings edging the Atlantis marina, the Harborside is an appealing mid-priced hotel that is conveniently close to the resorts Marina Village shops and restaurants, including the traditional Bahamian performers who frequent the streets of the village. The villas are big enough to accommodate families, who also will appreciate some of the Marina Villages more affordable dining, including pizza and a deli. The Harborside also is a good option for friends or multigenerational families thanks to its choice of one-, two-, and three-bedroom villas.

The Coral The Coral offers a combination of moderately priced rooms and a convention location amid Atlantis fish-filled lagoons, roughly in between the Royal towers and the marina village. The hotel has its own pool and is home to Atlantis CRUSH club for teens and pre-teens, and its also close to the resorts lagoon snorkeling experience and predator tank with its 100-foot glass-walled tunnel even more kid-friendly attractions, in other words (for mom and dad, the casino and Crystal Court shopping mall also are nearby). Three classes of rooms have one king or two queen beds.

The Beach Atlantis most budget-friendly hotel sits directly on Atlantis Beach has rooms with water or terrace views, and in addition to the beach guests will find the resorts zero-entry River Pool, lazy river, kids pool, and game room nearby, as well as a comedy club and a theater showing free movies daily. The Beach was the original hotel on the property, originally the Paradise Island Hotel and Casino; opened in 1968, it has been renovated in the years since but is certainly the most vintage hotel at Atlantis.

Comfort Suites Paradise Island This 223-room hotel with recently renovated junior suites isnt on the Atlantis property its across the street, but thanks to a longstanding arrangement with the resort, Comfort Suites guests get access to all Atlantis Paradise Island Bahamas amenities, including Aquaventure. Throw in the complementary hot and cold breakfast included with a stay and this may be the most affordable way to enjoy an Atlantis vacation.

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The Resorts at Atlantis Paradise Island in The Bahamas, Explained - Caribbean Journal

GREAT EXUMA, The Bahamas A day after a 3-over 75 seemingly dropped Tommy Gainey out of contention, the 44-year-old responded with a bogey-free 67 to ascend the leaderboard and take a one-stroke lead into the final round at The Bahamas Great Exuma Classic at Sandals Emerald Bay. At 8-under, Gainey edged four players by a stroke to take the 54-hole lead.

Gainey began the day eight strokes back of Dylan Wu, but a 3-over front nine by Wu opened the door. Gainey birdied his first two holes and turned at 4-under 32 before tacking on one more birdie at the par-4 13thto reach 8-under.

I think Dylan shot 67-66 the first two days and he was 11-under going in, but I knew I could get this golf course when the wind lets up just a bit, said Gainey, a PGA TOUR winner at the 2012 RSM Classic. Obviously it subsided some today, which I was glad to see, and I played a great round.

Four different players held a share of the lead during the third round as less windy conditions led to better scoring conditions, including Wu, Gainey, George Cunningham and Jose de Jesus Rodriguez. Though the conditions were calmer than the first two days, the sea breeze was still consistently 15-20 miles per hour with gusts up to 25 miles per hour.

Playing in (windy) tournaments throughout my career have me prepared for when it is gusting hard, said Gainey. Everyone has to play in it I try to deal with it like everybody else and so far its going pretty well.

After a par at the par-5 first, Gainey credited his shot on the par-3 second hole with kick-starting his round.

On No. 2, I hit the ball to about 10 or 12 feet, said Gainey. The pin was on the front and it was playing about 210 yards. When you hit it that close with the wind in your face off of the left, Im pretty happy with that. Birdies on the first two holes really started my momentum.

While the second hole was kind to Gainey, the same cant be said for Wu, who began the day with a seven-stroke lead on the field. After a birdie at the first, Wu hit his tee shot on the second in the water and settled for a triple bogey. He added three more bogeys and a double at the par-4 12th(countered by three more birdies) to card a 4-over 76.

Of course its hard when you lose a lead like that, but its my first time playing in this type of situation on this Tour so all you can do is learn from it, said Wu, whose seven-stroke lead after the second round tied a Korn Ferry Tour record. Im still happy that I still have a chance to win the tournament tomorrow.

Zalatoris, a former standout at Wake Forest University, carded the round of the day with a 7-under 65. Entering the day 11 strokes off the lead, Zalatoris enjoyed a torrid stretch from Nos. 13-15 in which he went ace-birdie-eagle. The ace was the third of Zalatoris life and helped him overcome an early double bogey at the par-3 sixth.

On No. 13 I had a pitching wedge and the pin is so far up that I could barely see the bottom of the hole; it ended up going in, which was a shocker, said Zalatoris. After that I was just trying to validate that shotOn 15 was when I knew it was my day. I had a good tee shot but had 295 yards to the hole and its blowing 30 miles per hour downwind. I hit 5-iron and pulled it, it was carrying the edge of the water the whole time and rolled up to about 25 feet from the hole. Erik (Compton) told me I need to go buy a lottery ticket after this round. I agree.

The final round on Wednesday will run from 7:25 a.m. to 11:40 a.m. off of the first tee.

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Gainey takes third-round lead at The Bahamas Great Exuma Classic - pgatour.com

The cold winter months have definitely done a number on us, so there is no better time to book that special vacation to none other than the sunny Bahamas! Whether you are looking for some peace and quiet, fun in the sun, or an all-around adventure, the Bahamas is where it's at.

The stunning Carribean destination offers travellers some of the most luxe resorts and hotels just waiting for you to enjoy. Whether you are travelling alone, with a partner, the family or a whole group of you, there is something for just about everybody.

While the Bahamas is home to some of the most luxe all-inclusive resorts, it is also home to some resorts that are not worth visiting. Luckily, we've got you covered on the 10 best all-inclusive resorts that treat guests like royalty, and 5 that you ought to avoid at all costs.

Fowl Cay Resort is located in none other than Fowl Cay, Bahamas! The upscale and luxurious resort offers travellers an experience on their very own private island, with private cabanas surrounded by crystal clear blue waters. If that doesn't sound enticing enough, you can also swim with the island native pigs, yes, pigs!

The Club Med Columbus Isle Resort is located in the beautiful region of Bonefish Bay, Bahamas, and should be on just about everybody's travel bucket list. The resort offers luxury like you've never seen before, all while being surrounded by some of the most stunning beach waters you will ever feast your eyes on.

Sandals Royal Bahamian Resort without a doubt stays true to their name! The resort offers not only beautiful beach views, but some of the most relaxing spa services in all of the Bahamas. Whether you want a massage, facial, or a simple yoga and meditation session, you can get it all here!

When you have the chance to travel anywhere with the name Paradise Island, take it! The Hotel Riu Palace is definitely a palace alright. The colourful resort offers you some of the best vacation vibes you will ever get out of the Bahamas and will not only brighten up your Instagram feed but your life, too!

The Grand Lucayan Resort is located in the city of Freeport, directly in the center of Grand Bahama and might even offer the best vacation you will find yourself on. The rest offers a mix of just about everything including relaxation, stunning beaches, great food, excitement, and entertainment, all to ensure you get your money's worth!

The Melia Nassau Beach is located in, you guessed it, Nassau! The resort is perfect for that family vacation you've been yearning to go on. The resort offers endless activities and services to keep you and the family entertained! If Mariah Carey opts for Melia Nassau Beach, then you should as well.

Viva Wyndham Resort is located in Freeport beach right on Churchill Beach and offers guests some of the most exciting and entertaining resort-wide activities. Whether you're feeling some beach volleyball, kayaking, a catamaran trip, jet skis, pool aerobics or activities for the little ones too, then you'll find it all at the Viva Wyndham in the Bahamas.

Small Hope Bay Lodge is the ultimate experience if you and that special someone just want to slip away somewhere and escape the chaos of your everyday lives. The resort offers a more quiet approach for its guests, allowing them to relax in a peaceful environment while enjoying the stunning beach views.

While the party scene is always a plus while on vacation, sometimes you just want to kick back and relax. Luckily for you, the Stella Maris Resort offers a great casual and relaxing vibe that ought to wash all your worries away. With crystal clear beaches, spa services, and delicious food, there really isn't any more you could ask for.

The Sandals Resort, located in Emerald Bay, Bahamas is the perfect combination of beauty and luxe all-in-one. Not only will you feel like royalty, but you will enjoy all the perks with beautiful views of white sand beaches, sunsets and gorgeous palm trees that won't make you ever want to leave.

When it comes to booking a trip to the Bahamas, Atlantis is easily one of the most popular places one decides to go to! While it is quite a magical destination, we feel as if it is our duty to let you know that it is sometimes not worth the hype. With crying kids, busy pools, crowded areas, and long waits, Atlantis might not be the place for you.

In addition to Atlantis being crowded at times, travellers might not like how the Island Seas Resort in Freeport can also be just as overcrowded. The beach is full of guests, and sometimes locals, making it quite the busy and chaotic space to be in when all you want to do is relax and soak up the sun.

Breezes Resort & Spa is yet another Bahamian destination that you might want to avoid for quite a while. While the resort was once a great one, recent reviews claim that it is a huge fixer upper. When you are paying loads of money to travel somewhere, you don't want to land in a place that doesn't match the photos!

The Royal Islander Resort is also located in Freeport, Bahamas, and while most resorts will offer you an array of food selections, it appears guests were very disappointed with the food at the Royal Islander. Perhaps this won't bother you, but when it comes to vacation, yummy food is always on the top of our lists.

If you're ready to get your party on, then this is the place for you. However, if a relaxing vacation is what you are looking for, then look away! The Castaways Resort & Suites is known for being quite the party central destination, making it less than favourable for travellers who want to stay away from loud music and intoxicated people.

Originally posted here:

10 All-Inclusive Resorts In The Bahamas That Treat Their Guests Like Royalty (5 With Bad Reviews) - TheTravel

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Instruction

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Larry Birkhead Wishes He Went to Bahamas Before Anna Nicole Smith Died: 'She'd Still Be Here' - FOX10 News

Christopher Columbus got a lot of things wrong about the "New World." He thought that manatees were mermaids, that the Bahamas were a part of Asia and that the indigenous people of the Caribbean were "Indians" eager to submit to their new Christian overlords i.e., himself. (They're not, they aren't, and they definitely weren't.)

One claim in the explorer's diaries that remains particularly contentious even today regards cannibals. According to Columbus, a tribe of invading cannibal warriors aka, the Caniba repeatedly beset his crew and the indigenous communities of the Bahamas when he landed there in 1492. But is there truth to these tales?

While there's no evidence they were cannibals, the Caniba were a real group of South Americans, better known as the Caribs. The group of people from northwest Amazon region are known to have colonized several Caribbean islands beginning around the year A.D. 800, but archaeological evidence suggests they never made it as far north as the Bahamas, where Columbus claims to have encountered them. Either Columbus was wrong again, or historians aren't seeing the full picture of the Carib migration.

Related: Top 5 Misconceptions About Columbus

Now, a new study published Jan. 10 in the journal Scientific Reports suggests Columbus may have been (partially) right after all. By analyzing more than 100 skulls from the Caribbean (plus a few from Florida and Panama) dating between the years 800 and 1542, researchers concluded that the Carib people were indeed present in the Bahamas as early as the year A.D. 1,000 meaning Columbus' descriptions of their raids could have been based in reality.

"I've spent years trying to prove Columbus wrong when he was right: There were Caribs in the northern Caribbean when he arrived," study co-author William Keegan, curator ofCaribbean archaeology at the Florida Museum of Natural History, said in a statement.

In Columbus' accounts, the New World (actually the modern-day Bahamas) was divided between two main populations: the gentle Arawak people, whom Columbus dubbed "the best people in the world," and the fearsome Caniba, who were marauding cannibals. (The English word "cannibal" actually derives from "Caniba," a name Columbus reportedly learned from the Arawaks.)

Archaeological evidence suggests the Carib/Caniba people expanded from the South American mainland as far north as the island of Guadeloupe, about 1,000 miles (1,600 kilometers) south of the Bahamas. However, this evidence is scant, it's mostly based on pottery and may not be telling the full story, the authors of the new study wrote.

To build a more complete picture of the Carib expansion, the researchers analyzed the morphological features of 103 skulls borrowed from Caribbean museum collections, hoping that the similarities and differences could reveal the cultural origins of those people.

Using their skull structure analysis, the team identified three distinct groups of migrants among their sample. According to the researchers, the Caribbean's earliest settlers came from the Yucatn Peninsula in modern-day Mexico around 5000 B.C., migrating into modern-day Cuba and the northern Antilles. Later, Arawaks from what are now Colombia and Venezuela migrated to Puerto Rico between 800 and 200 B.C. (These migrations are supported by stone tools and pottery discovered in previous archaeological studies, the authors wrote.)

Finally, Carib colonists crossed the sea to arrive at the island of Hispaniola (which now houses the countries of Haiti and the Dominican Republic) around the year A.D. 800, before continuing their expansion into Jamaica and the Bahamas. By the year 1000, violent conflict between Arawaks and Caribs may well have begun.

These findings give credence to Columbus' claims that the Arawaks were often besieged by their aggressive neighbors but what about the cannibalism? According to Keegan, it's possible that the Caribs did occasionally eat the flesh of their enemies to inspire fear, but there's no real evidence of this happening.

Either way, Columbus' reports of cannibalism had a catastrophic impact on Europeans' attitudes toward the Caribbean and its people, Keegan said. While the Spanish monarchy initially planned to treat indigenous groups with respect and pay them for their work, they reversed their position when Columbus claimed the Caribs were flesh-eating heathens who refused to convert to Christianity.

"The crown said, 'Well, if they're going to behave that way, they can be enslaved,'" Keegan said. "All of a sudden, every native person in the entire Caribbean became a Carib as far as the colonists were concerned."

Editor's note: This story has been corrected to note that the Yucatn peninsula is in modern-day Mexico in North America, not in South America.

Originally published on Live Science.

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Columbus' Claims of Cannibal Raids May Have Been True After All - Livescience.com

NASSAU, The Bahamas, Jan. 14, 2020 /PRNewswire/ - Killi,a consumer-led privacy application wholly owned byFreckle Ltd.(TSXV:FRKL) (the "Company"), today announced that CFO Andrew Elinesky will host investor meetings at theAlphaNorth Capital Conferenceat the Grand Hyatt Baha Mar in Nassau, Bahamas from January 17 through 19, 2020.

"With California's CCPA consumer privacy law live as of January 1, 2020, data privacy is at the forefront of businesses operating in the United States," said Mr. Elinesky. "Only 30% of businesses believe they are compliant and almost all U.S. states are in the process of enacting similar privacy laws. This trend along with constant CCPA news flow has created a shift surrounding the collection and selling of personal data from businesses to the consumer, with many consumers choosing Killi to safeguard and monetize their data. Quarter-over-quarter growth in Q3 of our key metrics indicate that Killi is the solution for consumers with 12% more monthly active users; 18% average revenue per user (ARPU) increase; an increase in lifetime value (LTV) of 5%; as well as a 30% reduction in the cost of acquiring (CPA) subscribers. Our balance sheet is solid to implement our business plan, and we continue to execute strategies to widen Killi's audience and further improve our key metrics. We look forward to introducing Killi and our expanding market opportunity to the micro-cap, tech investors that the AlphaNorth Capital Conference attracts from across the globe.

About AlphaNorth Capital Investment Conference

Capital Event Conferences is pleased to host the AlphaNorth Capital Conference at the Grand Hyatt Baha Mar in the Bahamas from January 17 19, 2020. The conference introduces growth-stage companies (Non-Resource, Technology, Biotech, Special Situations) to active top-level capital finance individuals through a day of scheduled one-on-one meetings. For more information, please visithttps://www.capitalevent.ca/conferences/alpha-north/.

About Freckle Ltd.Freckle's consumer identity mobile application "Killi" (killi.io) allows consumers to take back control of their digital identity from those who have been using it without their consent. With Killi, consumers can opt-in and select specific pieces of personal information that they would like to share with companies, as well as answer specific surveys, and be compensated directly for these answers. Download ithere.

Freckle, via its data andoffline measurementproducts, also allows leading brands and platforms to measure the effectiveness of their advertising by independently matching media spend to in-store visitation while remaining media agnostic. Freckle's technology is used by Fortune 500 brands like McDonald's, Lexus, Walmart, Verizon and AT&T, and is a core component of the top demand-side platforms (DSPs) and data management platforms (DMPs) used around the world.

For more information, please visitfreckleiot.com/killi.io

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

DISCLAIMER FOR FORWARD-LOOKING INFORMATION

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, ability to secure additional sales, ability to negotiate partnerships on favorable terms, and user acceptance of the improved UI. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe'' or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: expansion of the Killi application outside of North America; introduction of an additional third-party research engine in the Killi application; increasing ARPU for Killi; addition of incentivized video modules to the Killi application; improvement of the Killi UI; improvement of the engagement and user retention; securing an international data distribution deal; expansion of Freckle's global presence; securing additional partnerships in Q4; quarter over quarter revenue growth in Q4; sustaining current recurring revenue; building Killi into a legal global DTC application for Data Privacy; and, improving key data metrics. Although management of the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation assumed no obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

SOURCE Freckle Ltd.

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Freckle Ltd. to Present at the AlphaNorth Capital Investment Conference in Nassau, The Bahamas - PRNewswire

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas is among the top four nations forecast to be hit hardest by rising sea levels, a rating agency warned yesterday, with up to 15 percent of annual GDP and 11 percent of its people in peril.

Moodys, unveiling an assessment about the long-term threat to sovereign creditworthiness posed by climate change, drew on multiple studies to identify The Bahamas - as well as Vietnam, Egypt and Suriname - as the four countries most threatened by rising sea levels resulting from global warming.

Describing the outlook as a material credit risk, Moodys also voiced concern that The Bahamas efforts to combat sea level rise lack co-ordination among government institutions and are made more complicated because much coastal, low-lying land is in the hands of private owners such as major resorts.

Drawing on a World Bank study, the credit rating agency - which currently has The Bahamas barely maintaining investment grade status, one notch above so-called junk - said only Vietnam and Suriname faced more severe economic consequences in a worst-case sea level rise scenario.

The Moodys report, published as the Bahamas Business Outlook conference focused on resiliency in the face of climate change and natural disasters, disclosed projections that a one-metre sea level rise would submerge 11.6 percent of this nations total land mass.

This, in turn, would endanger 4.7 percent of annual economic output (Gross Domestic Product), given the tourism industrys reliance on coastal sites, and 4.6 percent of the Bahamian population. However, the impact is much more extensive should sea levels rise three metres, as this would swallow 31 percent - or almost one-third - of all land in The Bahamas.

And the threat to the economy would also be three times greater, with 14.5 percent of GDP in jeopardy, along with the lives of 10.5 percent of the Bahamian people.

Different studies yield similar results, Moodys warned. Countries including Vietnam, The Bahamas, Egypt, Suriname and some in the Gulf are highlighted, with up to ten percent to 25 percent of the population or GDP exposed.

The greatest inundation by proportion of land area would be in The Bahamas, followed by Vietnam and Qatar.... Taking a broader view of exposure by combining several indicators (GDP, population, land area, agricultural area, degree of urbanisation, wetlands), Vietnam, Egypt, Suriname and the Bahamas feature among the most exposed countries.

In a scenario where sea level rise reaches three metres, Vietnam and Suriname are also the most exposed countries by economic output, followed by Benin and The Bahamas. Other studies researched by Moodys show that 100 percent of The Bahamas would be vulnerable to flooding and/or be submerged should sea levels rise by five metres.

And Climate Centrals 2015 research estimated that two-thirds of the Bahamian population would be affected should a locked-in sea level rise occur under a scenario where global temperatures increased on average by 3 degrees Celsius.

If temperatures were to rise by three degrees Celsius (C), affected rated sovereigns would include Cayman Islands with 83 percent of the population submerged, Suriname (81 percent) and The Bahamas (67 percent), Moodys added.

If warming were limited to two degrees Celsius, the most affected sovereigns would be similar, but the share of population below sea level would reduce by 2-18 percentage points.

The Bahamas has already felt the brunt of climate change through Hurricane Dorian, which inflicted $3.4bn in losses and damage on Abaco and Grand Bahama, while also derailing the Governments fiscal consolidation plan for at least three years by driving this years projected deficit to $677.5m and the national debt to $9.5bn over the medium term.

Moodys reiterated that The Bahamas was especially vulnerable due to its reliance on tourism for at least 40 percent of annual GDP, as most of the plant and infrastructure for its largest industry and economic engine are located on the coast.

Over time, coastal erosion or concerns about natural disasters may make some regions less attractive to tourists, Moodys warned. For a number of small-island sovereigns, such as The Bahamas, Belize, Fiji or Maldives, tourism is a driver of economic activity, and a major source of export revenue and foreign exchange.

Permanently lower growth may weaken a governments fiscal strength. Moreover, government compensation for lost income through higher spending or tax moratoria would widen budget deficits and raise debt. Among the sovereigns exposed to sea level rise, fiscal strength is particularly weak in Egypt, The Bahamas, Belize, Suriname and Tunisia.

While tourist inflows generally recover following natural disasters, the recovery period varies, and can be longer in the aftermath of more extreme events. In The Bahamas, storms or hurricanes have not hit key tourist destinations recently [apart from Abaco], but Hurricane Matthew in 2016 resulted in a slowdown in tourist inflows to Grand Bahama, which are yet to recover to pre-2016 levels.

Moodys also indicated that The Bahamas efforts to counter this threat to-date have been less than impressive, adding: In The Bahamas, a regulatory framework is in place to curb the effects of sea level rise. However, a lack of co-ordination among institutions and a high degree of private ownership of coastal lands hamper these efforts.

Sea level rise and related shocks pose material credit risk to Vietnam, Egypt, Suriname, The Bahamas and other small island sovereigns, including Maldives and Fiji. The pace of increase in the frequency and severity of natural disasters related to sea level rise and the effectiveness of adaptation measures will determine the extent of the credit constraints that these sovereigns face.

Detailing the economic and social consequences of not acting, Moodys added: The economic and social repercussions of lost income, damage to assets, loss of life, health issues and forced migration from the sudden events related to sea level rise are immediate. The main credit channels for sovereigns are economic and fiscal strength.

Vulnerability to extreme events related to sea level rise can also undermine investment, and heighten susceptibility to event risk, by hindering the ability of governments to borrow to rebuild, increasing losses for banks, raising external pressures, and/or amplifying political risk as populations come under stress. While one isolated shock related to sea level rise is unlikely to materially weaken a sovereigns credit profile, repeated shocks could do.

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Sea level rise threat to 15% of Bahamas' GDP - Bahamas Tribune