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Furniture and Appliances for Grand Bahama residents impacted by Hurricane Dorian courtesy of GBPA

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#Freeport, Grand Bahama – May 13, 2020 – The Grand Bahama Port Authority, Limited (GBPA), through its charitable arm, the Grand Bahama Disaster Relief Foundation (GBDRF), has sourced greatly needed household goods for distribution to those in our communities who continue to recover from the impacts of Hurricane Dorian.

Many residents of Grand Bahama are still challenged by the devastation of last September’s hurricane while, at the same time, are coping with the economic and social impacts of the COVID-19 pandemic.

Photo from GBDRF

“The GBDRF, whose purpose is to provide hurricane relief efforts on Grand Bahama, continues to aid residents across the island,” said Ian Rolle, President of the GBPA. “We saw a significant need for furniture and appliances in homes that were flooded as a result of Hurricane Dorian. We tapped into our international network to explore the possibility that resorts may be going through renovations and, as a result of our efforts, were thrilled to identify a major resort willing to donate all of their furniture and appliances.” 

The resort’s donation of an array of household items is valued at approximately $1.5 million. The GBPA’s charitable arm, GBDRF, covered shipping and associated fees of almost $500,000 to bring the goods to Grand Bahama. “We received refrigerators, stoves, washers and dryers, dishwashers, dining room tables, outdoor seating areas, sofas with pull out beds, television sets, and night stands,” added Mr. Rolle. “Particularly at this challenging time, we appreciate the value of relationships and community mindedness, and are so grateful for this generous donation.”

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In November 2019, the GBDRF launched a home repair portal to gather information from residents needing assistance following Hurricane Dorian.  “Within the first 48 hours of launching the home repair portal, we received well over 1,000 applications,” Mr. Rolle explained. “We currently have 1,200 Grand Bahamians registered, and their needs will be reviewed first. The portal is still open to the general public, and residents from across the island are encouraged to apply. As more furniture, appliances, fixtures and other goods are received, we will accommodate new applicants.”

Residents may apply for consideration at www.gbpa.com/homerepair

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Bahamas News

Digital coin created for Caribbean’s Dominica as island partners with Huobi

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By Shanieka Smith

Staff Writer

 

December 2, 2022 – The Commonwealth of Dominica has partnered with cryptocurrency exchange Huobi, to issue its own national cryptocurrencies, Dominica Coin (DMC), and Digital Identity Documents (DID), already reports indicate a surge for the Huobi token.

This new collaboration with Dominica will bring the Caribbean one step closer to being a global cryptocurrency exchange centre.  Huobi also announced its intention to move headquarters from Seychelles to the Caribbean.

It was explained, “The deal is noteworthy partly because of its connections to crypto billionaire Justin Sun, founder of the Tron blockchain where the Caribbean island’s new token will initially reside.”

Dominica Coin (DMC) and digital identity documents (DID) will be issued by Huobi Prime via the TRON network (a project dedicated to building the infrastructure for a truly decentralized Internet); both will serve as credentials for the future metaverse platform based in Dominica. DIDs can be used for cryptocurrency Know Your Customer verification, applying for loans, and opening bank accounts on the island.

The DMC is not yet ready for launch, but The HT token is up 15% over the last 24 hours to $7.12. It’s up 40% over the past seven days.

As one of the first Caribbean islands to adopt the citizenship-by-investment policy, the Dominican government is seeking to delve into the metaverse and Web3 technology as a means to boost the country’s development.

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Bahamas News

Imminent Worldwide Measles Threat; 25 Million CHILDREN miss First Dose

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By Dana Malcolm

Staff Writer

 

December 2, 2022 – Forty million children are at risk of Measles as what the World Health Organization is describing as an “imminent threat” takes shape. A joint report between the WHO and the U.S. Centres for Disease Control revealed that a record number of children missed their measles dose with 25 million children missing their first dose and 14.7 million children missing their second dose in 2021 alone.

Nine million cases of measles were recorded last year, twenty-two countries experienced large and disruptive outbreaks and 128,000 deaths occurred, the report says.

“The paradox of the pandemic is that while vaccines against COVID-19 were developed in record time and deployed in the largest vaccination campaign in history, routine immunization programmes were badly disrupted, and millions of kids missed out on life-saving vaccinations against deadly diseases like measles,” said Dr. Tedros Ghebreyesus, WHO Director-General.

Measles is easily one of the most contagious viruses in the world and while many people think itchy spots when they think of the disease it can cause pneumonia, seizures and brain damage in about 30 percent of infected individuals.

Herd immunity will not work with this disease, say experts, unless 95 per cent of people or more are vaccinated; only 71 per cent of children in 2022 are fully vaccinated.

“Measles anywhere is a threat everywhere” the report said, emphasizing that no WHO region has achieved and sustained measles elimination.

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Bahamas News

FTX founder Sam Bankman-Fried admitted he’d screwed up

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By Shanieka Smith

Staff Writer

 

December 2, 2022 – An interview with FTX founder Sam Bankman- Fried on Wednesday at the DealBook Summit revealed that there were no risk management teams or form of corporate control to help govern the organisation.

Bankman-Fried resigned from his position in November following a liquidity crisis that resulted in the loss of billions in customer funds.

The CEO said he was shocked by what had taken place.  While he had made loans to his hedge fund Alameda, Bank-Fried said he did not intentionally commingle the funds.

Bankman-Fried acknowledged that he had a responsibility to the company and all its customers but he “screwed up.” “There was no person who was chiefly in charge of positional risk of customers on FTX, and that feels pretty embarrassing in retrospect,” he shared.

The investigation is ongoing and it still needs to be clarified whether customers will be able to regain any funds.

Former Securities and Exchange Commission lawyer Howard Fischer said that Bankman-Fried’s comments are being scrutinised.  “Everything he says that turns out to be contradicted by admissible evidence will be taken as evidence of deceit.”

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