01242017 business

TUESDAY, JANUARY 24, 2017

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Economy ‘$500m bigger in 2040’ through NHI

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Simon Townend

Implementation of National Health Insurance’s (NHI) primary care phase now will make the Bahamian economy almost $500 million bigger in 2040, the scheme’s advisers are predicting, adding: “Better health equals better wealth.”

The KPMG accounting firm yesterday unveiled a 20-page study on NHI’s projected economic impact, forecasting that the greater gross domestic product (GDP) output would come from a healthier, more productive workforce that contained more workers.

The report, coinciding with an NHI presentation at the Bahamas Business Outlook conference, said NHI’s primary care phase would drive an extra 5.1 per cent increase in household consumption by 2040, due to the larger

Govt urged: Privatise management of clinics

By NEIL HARTNELL Tribune Bu si ness Editor nhartnell@tribunemedia.net The Government was yesterday urged to privatise management of its 100 public health clinics by a key adviser to its proposed National Health Insurance (NHI) scheme.

Simon Townend, a KPMG (Bahamas) partner and head of the accounting firm’s Caribbean advisory practice, said there was “no reason” for the Government-owned clinics to be managed and operated as they are currently.

He told the Bahamas Business Outlook conference: “We should be moving more to private sector management of those clinics. There’s opportunities for private-public partnerships (PPPs) in the clinic space.

“There’s no reason why those need to continue to be run in the way they are.”

Whether the Government will act on Mr Townend and KPMG’s recommendation is uncertain, especially given that the Christie administration has always been wary of relinquishing long-held public assets to the private sector.

No such outsourcing is likely in the short-term, given that the Government will be more pre-occupied with implementing NHI’s $100 million primary care phase prior to the upcoming general election.

The Christie adminis-

NHI adviser: ‘No reason’ to run health system as now Agrees nation not getting good ‘health outcomes’ Business concern on cost ‘totally understandable’ tration, though, has exhibited a preference towards outsourcing management, as opposed to privatising physical assets and companies, as shown by the Nassau Airport Development Company (NAD) and Bahamas Electricity Corporation (BEC) deals.

Mr Townend readily admitted that the public healthcare system was challenged with long waiting times, inadequate physical infrastructure and poor treatment outcomes and ‘value for money’, given the annual Government (taxpayer) investment in it.

He said health system strengthening was a key component of NHI, with the goal of “continuous improvement” in the public sector.

“We all understand there are savings to be found in the current healthcare system, which is not the most efficient, and certainly See pg b6

Study: Scheme to drive 5.1% consumption rise And 1% productivity increase for firms by 2024 KPMG: ‘Better health equals better wealth’ Insurance rep blasts ‘glossing over’ on costs economy and improved productivity.

And it forecast that Bahamasbased companies would experience a 1 per cent productivity increase by 2024, along with a reduction in See pg b5

Nassau stopovers: 20% didn’t gain ‘value for money’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net One-fifth of stopover visitors say their Nassau/ Paradise Island vacation does not meet ‘value for money’ expectations, research unveiled yesterday disclosed.

Graeme Davis, president of Baha Mar’s new owner, Chow Tai Fook Enterprises (Bahamas), revealed statistics - which also showed the property’s opening will increase the ‘luxury’ share of New Providence’s room inventory by 18 percentage points - at yesterday’s Bahamas Business Outlook.

His presentation, likely employing Nassau/Paradise Island Promotion Board data, disclosed that tourist exit surveys revealed that 20 per cent of visitors to Nassau reported their stay did “not meet price/value

Room rates 2040% higher than Caribbean Baha Mar to take luxury rooms to 41% of inventory New owner may aid farming, fisheries investments expectations”.

The finding again raises ‘value for money’ concerns for the Bahamian tourism/ hotel industry, and fears that this nation is still potentially ‘pricing itself out’ of a significant segment of the vacationer market due to its high operating cost base.

See pg b6

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Baha Mar owner: Sarkis plan too ‘narrow focused’

By NEIL HARTNELL Tribune Bu si ness Editor nhartnell@tribunemedia.net Baha Mar’s new owner yesterday said efforts to broaden its client base beyond the original developer’s “narrow focus” would not split the high-end visitor market with Atlantis to the detriment of both properties.

Graeme Davis, Chow Tai Fook Enterprises (CTFE) Bahamas president, told Tribune Business that both he and his Atlantis counterpart held the “expectation” they could collaborate on growing this nation’s tourism base for the entire industry’s benefit.

He confirmed that CTFE intended to broaden Baha Mar’s appeal beyond the casino-centred vision envisioned by the property’s first developer, Sarkis Izmirlian, to one that was also “family friendly”.

Speaking earlier at the Bahamas Business Outlook conference, Mr Davis said that among Baha Mar’s targets would be households earning more than $150,000 in annual income; adults in the 35-54 years old demo-

But broader reach won’t ‘split’ market with Atlantis ‘Expectation’ of both resorts is to grow market CTFE to drop ‘Bahamian Riviera’ tagline ‘No hesitation’ on positive casino outcome graphic; ‘Baby Boomers’; multi-generational families; millennials; ‘Generation X’ families and groups.

This could ignite longheld fears among some in the tourism industry that Baha Mar’s plans could result in the destination resort ‘splitting the high end market’ with Atlantis to the detriment of both, undermining profitability and driving down room rates.

Mr Izmirlian’s vision for See pg b4

Financial services eyes ‘closed Bar’, tax system change

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

The financial services industry was yesterday said to be in the “initial stages” of determining whether the Bahamas’ ‘no tax’ model and “closed Bar” provide the best platform for ensuring its survival.

Tanya McCartney, the Bahamas Financial See pg b4

BFSB chief: Are they right platform for survival?

Wants to attract company ‘mind and management’ Urges changed Bahamian ‘mindset’ towards sector

PAGE 2, Tuesday, January 24, 2017

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Fort Fincastle Heritage Park plan is unveiled Fort Fincastle Key historical and land- mission. An upgrade to the mark attractions will re- property will be an opporceive major upgrades with- tunity to market Fort Finin the next several months castle, have a story to tell in a bid to improve the Ba- and include a wow factor.”

Current admission to the hamas’ tourism product.

Fort Fincastle, the Wa- Fort costs $1, and includes ter Tower and the Queen’s a full tour including the Staircase have all been tar- Queen’s Staircase. After a complete restoration of the geted for enhancement.

The plans for the Fort property, admission will be include a restoration of the $15 and include a day at the water tower, clean-up of the monument.

“The water tower is consurrounding areas, acquisition and lease of neighbour- sidered one of the most ing properties, a restaurant, popular sites in the Caribproposals to terrace the bean. It is either ranked area, and improved parking first or second for most and exhibition opportuni- visited sites,”Mr Strachan said. “Once we’re able to ties.

Upon completion, the restore it we can sell it as area will be known as the a premium site to visit beFort Fincastle Heritage cause tourists are now looking for heritage tourism.”

Park.

He added that the CorCourtney Strachan, chairman of the Antiqui- poration was also working ties, Monuments & Muse- on improved security measums Corporation, said the ures.

Future projects include changes were necessary for the Corporation to sustain the expansion of Fort Charlotte reenactments, the itself.

“At Fort Fincastle, the privatisation of Fort Monwater tower has been closed tague, a partnership with for 15 years and there a lot the Grand Bahama Port of dilapidated houses sur- Authority (GBPA) to crerounding the property,” he ate museums in Freeport, the opening of Sir Sidney said.

“Over a million tour- Poiter’s residence as a tourists visit the site but only ist site, and the restoration 200,000 people pay for ad- of Mount Alvernia.

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Bahamas ‘addicted to entitlements’

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas has become a nation “addicted to entitlement”, the Chamber of Commerce’s chairman said yesterday, arguing: “We have become a capitalist lifestyle jurisdiction that wants the socialist protectionism.”

Gowon Bowe told the 26th annual Bahamas Business Outlook conference: “The Bahamas has unfortunately has become a nation addicted to entitlement. We have not lived up to what our forefathers, the unions and those who fought for independence and Major-

Nation wants ‘capitalist lifestyle with socialist protectionism’ ity Rule set out as the tenets that they want to abide by.

We have become a capitalist lifestyle jurisdiction that wants the socialist protectionism.”

Mr Bowe added that this nation cannot have Bahamianisation in isolation.

“We cannot desire the foreign direct investment, investors and expertise, but reject the actual individual,” he explained.

“We have to understand

Gowon Bowe that we must embrace competition both at home and abroad.”

Mr Bowe argued that Bahamians must reverse their behaviour to help achieve

about economic improvement.

“We have to have a mindset of ownership and not simply employment,” he said. “We have to reverse our behaviours. We have to now get to a point where we are saving and investing, not relying or depending on government.

“We have this need for foreign direct investment, but we have to juxtapose that against our inconsistent analysis, approval and regulation of these big projects. We talk highly about the ground breaking ceremonies, but we rarely speak about what it has cost us and what benefits we are getting for that investment.”

Baha Mar finishes Grand Hyatt deal

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Baha Mar’s new owner yesterday said it had finalised an agreement for Grand Hyatt to manage 1,800 rooms at two of its hotels, adding that its acquisition of the project was “not a one-shot opportunity”.

Graeme Davis, president of Chow Tai Fook Enterprises (CTFE) Bahamian subsidiary, told the 26th annual Bahamas Business Outlook conference that Baha Mar fits perfectly with its strategic development plans.

He added that last week CTFE finalised a deal with Hyatt Hotels and Resorts for the Grand Hyatt to brand and operate both Baha Mar’s casino and convention hotels.

“We are pleased to say that we have definitive agreements executed.

Grand Hyatt will be overseeing both the casino hotel as well as the convention hotel. This will be the flagship Hyatt in all of the Americas with 1,800 rooms,” said Mr Davis.

He confirmed that Rosewood, which is owned by CTFE, and SLS Lux remained as Baha Mar’s other two operator brands, with their properties expected to open in December 2017.

CTFE was revealed as the purchaser of the stalled $3.5 billion mega resort late last year. The multi-billion dollar Hong Kong-based conglomerate has interests in property development, hotels, casinos, transporta-

Main entrance to Baha Mar development site.

Brand to manage casino and convention hotels CTFE: This is ‘not one-shot opportunity’ Dismisses Triad claim as ‘baseless, unfounded’ tion, jewellery retail, ports and telecommunications.

Mr Davis yesterday again slammed efforts to link CTFE to Chinese organised crime gangs, the Triads, through its principals’ investment in Stanley Ho’s Macau gaming concerns.

Emphasising that CTFE and its subsidiaries had no operational involvement with Mr Ho’s interests, Mr Davis said of the claims: “I must say that it is baseless and unfounded.

“We strongly believe

that this integrated resort project fits perfectly with our strategic growth future.

This is not a one-shot opportunity for us. We have an incredible depth, experience and resources in large scale projects globally.”

Baha Mar kicked-off its recruitment drive last Monday as it seeks to fill some 1,500 positions ahead of its ‘soft opening’ on April 21.

Baha Mar is looking to initially fill positions at the golf course, the casino and casino hotel, and convention centre ahead of its scheduled partial opening.

As many as 5,000 jobs are expected to be created once the resort is fully opened.

CTFE has said it is dedicated to the success and timely opening of Baha Mar, and is “very optimistic” that the April 21 opening date will be hit.

Under its original developer, Sarkis Izmirlian, Baha Mar was first slated to open in December, 2014. After repeated missed deadlines, Mr Izmirlian filed for Chap-

Gov’t tackling NHI ‘cobwebs’

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Prime Minister Perry Christie yesterday pledged that National Health Insurance (NHI) will be a “positive boost” to the Bahamian economy, saying this was supported by a recentlycompleted study from the Government’s KPMG consultants.

Mr Christie told the 26th annual Bahamas Business Outlook conference that “no sensible government” would plunge an economy into a downturn.

“When we were reviewingNHI, my government saw that in their consultation with the South Africa government, that they had argued persuasively that it is a net positive to the economy as opposed to a drag; that the economy gains as a result of the implementation and proper execution.

My government commissioned KPMG to engage in a study which has just been competed,” he said.

“That study will confirm, and KPMG will put its reputation behind it, that the execution and implementation of NHI will prove to be a positive boost to the econ-

omy of the Bahamas.

“It was important that we remove the cobwebs, the fear and the concern out of it. No sensible government will plunge unnecessarily an economy into a downswing.”

The first NHI phase – primary care benefits – remains on track for roll-out early this year, according to NHI officials.

The first phase has been pegged at a cost of $100 million by KPMG, the Government’s hired consultants.

Primary care services under NHI were originally set to begin in April 2016, but were ultimately delayed.

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ter 11 bankruptcy protection in the United States in June 2015.

The Government vigorously opposed this process, saying it threatened the Bahamas’ sovereignty, and instead petitioned the Supreme Court to place Baha Mar into provisional liquidation.

Baha Mar’s bankruptcy cases for its Bahamian entities were later thrown out of the US court. More than 2,000 Baha Mar employees were made redundant in October 2015.

Tuesday, January 24, 2017, PAGE 3

PM targets Home Owner Protection Bill before election

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Prime Minister Perry Christie promised yesterday to introduce more relief for struggling Bahamian homeowners before his administration’s term in office expires, as he touted the revised Mortgage Relief Plan for assisting 350 borrowers to-date.

Addressing the 26th annual Bahamas Business Outlook conference, Mr Christie said the long-promised Home Owners Protection Bill could be introduced to Parliament before the general election.

“The plan to-date has assisted over 350 Bahamians in reducing their monthly payments to make their home affordable through the reduction of monthly payments of 25 per cent,” he said of the Mortgage Relief Plan.

“Another element is the introduction of a new Home Owners Protection Bill in the House of Assembly, along with the amendments to the Financial and Corporate Services Providers Act and the promulgation of rules for money lending under the Act. “This compendium of legislation will introduce for the first time in the Bahamas clear rules around the entire mortgage process, from mortgage origination to foreclosure. It will also discourage irresponsible practices which have contributed to the mortgage crisis.”

Mr Christie reiterated “The final element of this mortgage relief effort will be the introduction of credit reforming legislation. This is extraordinarily significant. We will try as best as we can to introduce, before the end of this term, the Home Owners Protection Bill. We’re supposed to have consultation with Greg Moss, the Marco City

Mortgage Relief assists over 350 to-date MP, who put forth a Private Members Bill” on the same subject.

The commercial banking industry previously expressed numerous concerns over the the Home Owners Protection Bill, arguing that it would make institutions even more reluctant to lend, due to the increased difficulties associated with realising collateral security in the event of default.

The Government committed $10 million to its initial Mortgage Relief Plan in 2012, which was supposed to benefit around 1,000 out of an estimated 4,000 delinquent homeowners. However, it flopped with less than five borrowers qualifying.

Last May, Mr Christie announced plans to revive the scheme, modelled after the US mortgage assistance plan, in collaboration with the Clearing Banks Association (CBSA).

He confirmed that the new scheme would cost taxpayers $20 million over four years, and that it was designed to assist borrowers more than 90 days past due as of May 2016.

Eligible borrowers who have an ability to pay could qualify for a 20-25 per cent reduction in monthly payments, and are required to attend a financial counselling programme.

Commenting on ValueAdded Tax (VAT, Mr Christie said yesterday that the levy had enhanced government revenue as well as brought increased accountability and discipline to the business environment.

“We most certainly would have been downgraded had we not introduced VAT,” said Mr Christie.

PAGE 4, Tuesday, January 24, 2017

Baha Mar owner: Sarkis plan too ‘narrow focused’ From pg B1 Baha Mar had been one where the project targeted childless couples and singles, placing a heavy emphasis on the casino, in a bid to differentiate itself from Atlantis’s targeted family market.

However, Mr Davis yesterday moved to reassure on the ‘market splitting’ concerns, emphasising that Baha Mar would be “family friendly” whereas Atlantis was “family focused’.

“I think we have to,” he replied, when asked by Tribune Business if CTFE was going after a broader market than Mr Izmirlian.

“We continue to say that the strategy in the past was narrow-focused, going after a niche market.

“We feel that there is a broader base of business that can be attracted to

the property, and that’s in the luxury, upscale market globally. We’re focusing on a more sophisticated experience that’s family friendly, not family focused. That’s a broad niche for us.”

Mr Davis said he had already met his Atlantis counterpart, Howard Karawan, to discuss how the Bahamas’ two largest destination resorts could collaborate on areas of mutual interest, such as marketing initiatives designed to grow the customer base and drive increased traffic to both resorts.

“We certainly don’t want to,” Mr Davis responded, when Tribune Business raised the ‘market split with Atlantis’ issue. “There will be a little bit of crossover [cannibalisation]” at the start.

He added: “We both un-

Financial services eyes ‘closed Bar’, tax system change From pg B1

Services Board’s (BFSB) chief executive, said this nation needed to assess whether its 57 year-old taxation system was best suited to “the changed international operating environment” in which the sector found itself.

And it also had to decide whether the restrictions on allowing foreign attorneys to practice in the Bahamas “serves us best as an international financial centre”, Ms McCartney told the Bahamas Business Outlook conference.

She identified both issues as key challenges and impediments to re-positioning the Bahamian financial services industry to remain viable, and thrive, in the

new global regulatory environment.

Recalling the 1960 Parliamentary resolution that imposed the ‘no income and capital gains taxes’ platform, Ms McCartney effectively queried whether it was still an appropriate platform in an era of increased global demands for transparency and tax information exchange.

“Can we continue to take that position?” she asked of the ‘no tax’ platform, questioning whether “immediate action needs to be taken with respect to our tax structure”.

Ms McCartney continued: “We have been engaged with Cabinet and the Government, and even asked to proceed with dialogue to bring forward

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derstand, Howard Karawan and I, that’s in everyone’s best interest to grow the product together, grow the volumes together, to grow into new markets and grow the market together, driving more interest to the Bahamas than in the past.

“That’s our expectation and our strategy. We’ll collaborate together.”

Mr Davis confirmed that CTFE would invest more than $100 million in preopening expenses, such as recruitment and marketing, prior to Baha Mar’s April 21 ‘soft opening’.

Confirming that the Hong Kong-based conglomerate would retain the Baha Mar name, due to the brand equity already built into it from previous marketing, he revealed that the ‘Bahamian Riviera’ tagline would be dropped.

“The ‘Bahamian Riviera’, that side of the marketing and the destination marketing, that most likely will fade away,” he confirmed.

Mr Davis then told Tribune Business that Baha Mar’s convention centre “certainly has more than $250 million worth pent-up demand” for group bookings over the next three years, referring to the figure that was on the Grand Hyatt’s books prior to the resort’s 2015 collapse into Chapter 11 bankruptcy proceedings and subsequent receivership/liquidation proceedings.

He acknowledged, though, that it would take time to ramp up Baha Mar’s group business under CTFE, as the meeting planners who drove high-end bookings would want to “touch it, feel it” and make sure the development was for real given its recent history.

“It’s not something you can turn a switch on and bring in vast volumes of group business,” Mr Davis explained. “But when you look at future booking opportunities for the next

three years, we certainly have more than $250 million worth of pent-up demand.”

He added that Baha Mar had currently received around 6,000 applications for the 1,500 jobs that will be filled by the April 21 opening, saying that CTFE was “very encouraged by the enthusiasm and diversity” of the potential labour pool.

Mr Davis told Tribune Business that CTFE was also extremely confident of a “positive outcome” on its casino licence application.

Baha Mar is the first of its integrated resort developments where CTFE will operate and manage the casino itself, under the Baha Mar name, and he suggested this could become the conglomerate’s model moving forward.

“It’s going very well.

We’ve had the probity interviews in Hong Kong and locally,” he said. “We’re very encouraged by the feedback

we’ve received from the Gaming Board, and have no hesitation at all that we’ll have a positive outcome with respect to the casino.”

Mr Davis confirmed that Sky Warrior (Bahamas) is the casino management company’s name, adding: “When you buy a company off the shelf, you take whatever name is available. It has no real significance.”

Pointing out that Baha Mar’s three hotel brands, Grand Hyatt, SLS and Rosewood, have a 20 million strong client marketing database between them, Mr Davis said there were opportunities to integrate the project’s casino operations with other CTFE developments worldwide.

He added that CTFE was developing the casino gaming management expertise in-house, rather than hiring an external firm like Mr Izmirlian, and also looking to hire back many of the former casino workers terminated in November 2015.

policy proposals and positions with regard to whether that’s a viable position moving forward.

“We are in the initial stages of consulting and collaborating with a firm to review our tax structure, and make recommendations to the Government as to what is needed to put us on a proper footing with taxation for the viability of the financial sector in the long-term.”

The BFSB chief executive implied that the focus of such a review would be whether a ‘low rate’ corporate tax would enable the Bahamas to enter into ‘double taxation’ and bilateral investment treaties with other countries.

And, in turn, whether such a tax structure and treaties would attract companies to establish a physical presence in the Bahamas “with mind and management residing” here.

Several financial services

practitioners, such as Dominion Management principal, Paul Moss, have long argued that the Bahamas should switch from a ‘no tax’ to a ‘low tax’ model in terms of income and corporate taxes.

They believe that such a move will enable the Bahamas to shed the ‘tax haven’ image and give it extra legitimacy, while also helping to encourage high net worth individuals to follow their assets here and make this nation their primary domicile.

A ‘low tax’ model would also open up the possibility of entering into ‘double tax’ treaties, a move that could encourage more businesses to establish a presence in the Bahamas, as any profits they repatriated home would only be taxed once - at this nation’s lower rate.

Ms McCartney, meanwhile, said the Bahamas also needed to closely examine another long-held policy position, that of the restrictions on specialist foreign attorneys and law firms being allowed to practice from this nation.

“I’m an attorney, but I need to say it,” the BFSB chief executive said. “We need to see if the ‘closed Bar’ serves us best as an international financial centre.”

Ms McCartney said rival international financial centres (IFCs), such as the Cayman Islands, Bermuda and the British Virgin Islands (BVI), had all opened up their legal professions to joint ventures with foreign law firms, and allowed specialist financial services practitioners to operate from their jurisdictions.

Pointing out that much of the business sent to IFCs came via “international referral networks”, and key intermediaries (attorneys and accountants) who dealt with providers they knew,

Ms McCartney implied that the Bahamas was losing out due to current policy restrictions.

“We need to look at opportunities for the continued liberalisation of the Bar, confined to areas of financial services we need to provide, and with the caveat of uplifting our Bahamian talent and building capacity for our Bahamian professionals,” she said.

‘Liberalisation’ is a topic that divides Bahamas Bar Association members whenever it is raised, as occurred when Hope Strachan, minister of financial services, last year made the same arguments as Ms McCartney.

Senior attorneys and financial services specialists, such as Brian Moree QC and Bryan Glinton, have supported the ‘controlled liberalisation’ suggested by Ms McCartney, whereas others, including current Bar president, Elsworth Johnson, have rejected the idea.

Identifying other obstacles to the financial services industry’s viability and growth, Ms McCartney said they included the Bahamas’ continually slipping ‘ease of doing business’, and the need for a “more open minded” Immigration policy and approach.

Pointing also to the dangers posed by global ‘derisking’ trends, the BFSB chief executive added: “We’ve had to look at how we can reduce the risk profile of the Bahamas as a jurisdiction to maintain and secure correspondent banking relationships.”

Ms McCartney also acknowledged the Bahamas’ issues in implementing solutions to long-known, widely understood problems.

“As Bahamians, we can acknowledge that sometimes the challenge comes

with execution,” she said.

“We know what needs to happen; the challenge is getting it done.”

Ms McCartney also urged Bahamians to change their “mindset” towards the financial services industry, and give it the same treatment and standing as they applied to tourism.

Calling on the country to adopt the same slogan, she said: “Financial services is everyone’s business. We’ve done a great job creating how tourism is everyone’s business, but so is financial services. The reality is that the entire gamut of our society benefits from financial services.”

The BFSB chief executive called for the same policy incentives and focus devoted to tourism to be extended to financial services, adding: “Together, we can break the barriers that threaten the success of this sector.”

Ms McCartney said the financial services industry, which many believe could generate up to 30 per cent of GDP, “underpins” both the wider economy and the Bahamian middle class.

Recalling the results from an Association of International Banks and Trusts (AIBT) workforce survey, Ms McCartney said the sector’s average salary was $92,000, with Bahamians accounting for 85 per cent of employees.

“We must chart a new course to buttress the economy, protect those who work in financial services and those who benefit from it,” she added.

“While the prognosis may appear uncertain or dire to some, there are many of us in the industry who see opportunities in the face of challenges.”

THE TRIBUNE

Tuesday, January 24, 2017, PAGE 5

University to expand research capabilities

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The University of the Bahamas (UB) is moving to expand its consultancy and research capacity, a top official said yesterday, adding that its Government and Public Policy Institute

will be launched in the next few weeks.

This will focus on advancing research on national and regional matters, as well as providing consultancy services to government agencies and ministries.

Dr Linda Davis, the university’s provost, told the

Economy ‘$500m bigger in 2040’ through NHI From pg B1

insurance premiums and improvement in worker mobility.

Arguing that the $100 million primary care phase was “an investment that will continue to pay off for generations to come”, the KPMG report said: “The headline finding – that over the course of a generation the primary care phase of NHI will be producing an additional $500 million a year in additional GDP – should come as no surprise.

“It is consistent with a growing body of literature around the world showing that health investments generate up to nine times their costs in terms of economic growth. This is in addition to related benefits such as lower mortality and morbidity rates, a more productive population, higher employment, a more skilled workforce and lower health inequalities.”

The KPMG study added that NHI primary care implementation would in 2030 make the Bahamian economy $248 million, or 2.7 per cent, larger than it would otherwise be if the scheme was not implemented.

And it estimated that NHI would make Bahamian GDP, or economic output, some $358 million or 3.7 per cent greater in 2035 than if the scheme was not executed. These figures rose to $485 million, or 4.8 per cent, by 2040.

“Our model suggests that if implemented now, by 2035 the economy of the Bahamas is likely to be around 3.7 per cent larger as a result of the primary care phase of NHI (+$350 million per year in 2006 terms),” the KPMG report.

“This figure rises to almost 5 per cent (around B$500 million) by 2040.

“The majority of this economic growth comes from a larger, healthier and more productive population (due to lower mortality and less morbidity due to chronic disease).

“Other factors include the addition of more skilled

workers to the economy (with additional primary care doctors and nurses), and a small shift in precautionary saving on the part of households.”

The KPMG study also estimated that based on current taxation rates, NHI’s primary care introduction would generate $110 million in extra per annum taxes for the Government by 2035 as a result of the greater GDP growth.

Still, the report cautioned: “It is clear that government revenues will rise as a result of a stronger economy under the NHI primary care phase scenario, but it is unlikely this additional income will make up for the full costs of implementation.

“The policy is a strong investment in the economy of the Bahamas; it should not be viewed as a major revenue engine for government.”

The KPMG report added that the improved health expected to result from NHI would produce a reduction in the unemployment rate, while also leading to cost savings for the Government as a result of reduced demand for hospital services.

“NHI is also expected to have a positive direct impact on households, businesses,” the KPMG report forecast.” “Today, most Bahamians do not enjoy the security that comes with a meaningful right to healthcare. They must live with the fear of what might happen to them if a loved one becomes ill, including how they will pay for care.

“For households, the increase in the size of the economy and its productivity equates to an additional 5.1 per cent in total household consumption by 2040 (2.9 per cent by 2030) if the primary care phase of NHI is implemented. This equates to around B$224 in today’s cash terms per household.

“Firms will benefit from a gradual increase in worker productivity, reaching +1 per cent by 2024. Firms are

26th annual Bahamas Business Outlook conference that for the first time the institution will establish a Government and Public Policy institute.

“We are particularly excited by the Government and Public Policy Institut,” she said. “The Government and Public Policy Institute

at UB about to be launched in the coming weeks will focus on advancing research on national and regional matters relevant to public policy and practice.”

Dr Davis added: “It will provide consultancies and research services to agencies and ministries of the government, as well as pri-

vate entities based on our national development goals and national research priorities, assistance in monitoring and implementing the National Development Plan and informing revisions of the same on an ongoing basis, as well as developing and disseminating national key performance

indicators and economic forecasts.”

While the Government spends millions annually on foreign consultants, there have long been calls for the now University of The Bahamas to be engaged in more research and consultancy.

also likely to see a slower rate of growth in private health insurance premiums for staff (due to larger healthier risk pools), and lower levels of ‘job lock’ (lower worker mobility due to employees not wishing to lose benefits when moving).”

The study’s findings are likely to be received with scepticism by many in the Bahamian healthcare industry, particularly the private doctors, insurers and other professionals who believe that the NHI scheme as designed is not the best way to finance the Government’s Universal Health Coverage (UHC) ambitions.

Many in the industry are likely to view the KPMG study and its publication as an attempt to get Bahamians and businesses ‘on side’ with NHI, despite concerns about its cost and whether new or increased taxes will eventually be required to finance the scheme.

Simon Townend, a KPMG (Bahamas) partner, was yesterday challenged at the Bahamas Business Outlook conference by Rhonda Chipman-Johnson, the Bahamas Insurance Association’s (BIA) co-ordinator, who accused him of “glossing over” how much NHI will cost, who will pay for it and how much.

“In all of this, it is disingenuous to gloss over the cost of all this,” Mrs Chipman-Johnson argued. “The Bahamian people are being told they’re dedicating $100 million to this primary care phase.

“Primary healthcare is very expensive and I fail to see how we can have a discussion until the Bahamian people are told how much they’re going to have to invest in this.

“Not talking about cost, our system needs upgrading. The condition of our hospitals and clinics, we must talk about the upgrading of our system.”

Mr Townend denied that “anyone is glossing over the

cost” of NHI, and described the primary care phase as the “foundation” of further healthcare reforms to come, once the system and economy could bear it.

“I would imagine that future governments, as they build on healthcare in the Bahamas, everything will be done in an affordability envelope,” he explained.

“There’s a cost to the Government in rolling this programme out, but there’s a return for the country and a return for the population’s health.”

Mrs Chipman-Johnson, though, suggested that the $25 million the Government is allocating for catastrophic care, as part of the primary phase roll-out, was woefully inadequate.

“Twenty-five million dollars for catastrophic care might just cover 25 people, depending on the nature of the care,” she said. “All that needs to be communicated to the populace.”

The KPMG study, meanwhile, identified 15 impacts that would generate a return on the Government’s annual $100 million primary care investment, some $60 million of which will be ‘new money’.

They included a reduction in healthcare inequalities and inequities, coupled with an improvement in defences against pandemics, increased health industry employment, and improved national security and social cohesion.

It will also “give peace of mind to citizens on no, low and middle incomes, as there is less need to worry about the impact of future

healthcare costs on household finances, and less need to sell assets or exhaust savings if a family member does become sick”.

The KPMG study said it based its mortality rate estimates on two studies, which assessed spending on health coverage and primary care in 127 countries and 153 countries, respectively.

“Taking the more conservative extremes of both estimates, we scaled them to the size of investment required for the primary care phase of NHI to project that over 25 years there would be a potential gain of 12.5 fewer adults per 1,000 dying as a result of NHI, and five per 1,000 children

(under-15s) dying,” KPMG said.

“The result is that ‘with’ NHI, it is expected that the population will be almost 15,000 higher by 2030 than it would be ‘without’ NHI, driven primarily by increases in the lower, more productive age groups.”

On the labour front, the KPMG study said the $100 million primary care investment would reduce worker absenteeism, increase productivity at work and make it “less likely” that workers need to retire early due to ill-health.

The study was produced in conjunction with Cambridge Econometrics, a UK-based think-tank.

to advertise today in the tribune call @ 502-2394

PUBLIC ANNOUNCEMENT You are hereby invited to attend a meeting of concerned shareholders of the *Bank of The Bahamas to be held at The British Colonial Hilton on the 24th of January at 6:00 pm.

Entry will be limited to shareholders only. *Disclaimer - please note that this meeting is being facilitated by a group of concerned shareholders and not the Bank of The Bahamas.

PAGE 6, Tuesday, January 24, 2017

Govt urged: Privatise management of clinics From pg B1 there can be some improvements in processes and technology to save money from the existing expenditure,” Mr Townend agreed.

He reiterated that the NHI primary care phase was contingent on private sector doctors “lifting some pressure off the public system” by agreeing to provide services to the scheme, arguing that many physicians and facilities were “not operating at full capacity”.

Although provider (doctor) registration for NHI is supposed to begin immi-

nently, several physicians have privately told Tribune Business that ‘buy in’ to the Government’s scheme was likely to be low, and many will not sign up.

Some are even viewing the need for private doctor participation as “a choke point” that could prevent the primary care phase’s launch, given that they are needed to both deal with the huge increase in patients and relieve the public system.

Mr Townend yesterday conceded that Bahamians were not receiving ‘value for money’ from the exist-

Nassau stopovers: 20% didn’t gain ‘value for money’ From pg B1 This forces Bahamian resorts to compensate by charging relatively high room rates, and into attempting to provide highend experiences that will ‘blow away’ customers.

This was evident from Mr Davis’s presentation, which disclosed that average daily room rates (ADRs) in the Bahamas were typically 20-40 per cent higher than the Caribbean average since 2012.

The Baha Mar chief also disclosed that once the project, and its extra 2,300 rooms, were fully open, luxury, upscale rooms would increase from the present 23 per cent to 41 per cent of Nassau/Paradise Island’s total room inventory.

The data also compensated somewhat for the dissatisfied ‘one-fifth’ with the finding that 29 per cent of Nassau/Paradise Island visitors reported their vacation as being “much better than expected”.

Mr Davis, meanwhile, told the Business Outlook that Baha Mar’s new owner may be prepared to help Bahamians establish sustainable agriculture and fisheries, including hydroponics, operations given

that these would also enable the resort development to thrive.

He added that Baha Mar’s management teams were “moving into the hotels” that will be part of the April 21 ‘soft opening’ this week, due to the progress achieved to-date by the main project contractor, China Construction America (CCA).

CTFE intends to open the casino and casino hotel, plus the convention centre, by that April date, with Mr Davis suggesting yesterday that the golf course was in good enough condition to open by end-March.

He added that the number of hotel rooms open by April 21 could vary from 200-1,000, although the number was likely to be towards the higher end of that range, with the Bahamas’ traditional markets - Florida and the US northeast- targeted for the first guests.

Mr Davis said the ‘soft opening’s’ timing could work to Baha Mar’s advantage, as it would have the slower summer months to both ramp-up recruitment to more than 4,000, and bring staff up to the standards of its three brands Grand Hyatt, Rosewood

ing healthcare system.

While the $1,819 average per capita expenditure on healthcare equates to around 9 per cent of GDP, a figure in line with many other countries, Mr Townend said the Bahamas was “not achieving the same health outcomes”.

The KPMG (Bahamas) partner added that with a population of 373,496 persons, and an average life expectancy of almost 75 years, just 30 per cent - less than one-third of Bahamians - were covered by private health insurance.

This, he suggested, made government action imperative, given the negative financial consequences for Bahamians who were forced to cover expensive treatments from their own and SLS - in time for the main launch in winter 2017.

Emphasising that Baha Mar wanted to be “flawless”, and exceed guest expectations, Mr Davis explained that CTFE and the project would gain no return on their investment if they were to launch a big marketing push now.

Many observers had questioned how Baha Mar would find guests for its ‘soft opening’ without marketing, but Mr Davis said: “We want to make sure we take a very thoughtful approach, and not just spend millions and millions.

“It’s a very short-term booking window before the summer season. To spend money in January, we don’t think it’s a wise investment.

We want to make sure we invest when the focus is right and the timing coming in.”

Mr Davis said Baha Mar’s marketing and public relations drive would kick-off in February and March, with CTFE expecting to finalise co-operative marketing spend with the Government and Ministry of Tourism.

The three hotel brands and Nassau/Paradise Island Promotion Board will also contribute to the project’s promotion.

Corporate Compliance Manager Description

financial resources.

“People go hungry, take out loans, sell assets, and lose their independence and dignity because of healthcare,” Mr Townend said.

“A very important factor here is enhancing social cohesion and the implementation of the Government’s commitment to healthcare as a human right. Who wouldn’t want a healthy population?

“We can do it if we focus on taking action and achieving the right outcome, rather than sitting back and saying we can’t afford to do this.”

Mr Townend said it was “totally understandable” that many Bahamians - especially business owners - were focusing on whether

THE TRIBUNE

they would have to pay new or increased taxes to finance the NHI scheme.

Emphasising that the Government had stated publicly this would not be required for the initial $100 million primary care phase, the KPMG partner argued that NHI would generate returns that benefited the entire Bahamas.

“A lot of other people are jumping to the concern: What’s the cost? What’s it going to cost my business?

How will it affect me? That’s totally understandable; it’s the way people think,” Mr Townend acknowledged.

“Access to affordable healthcare is about improving people’s lives, and developing a healthier, more productive workforce....

Improving primary health

is a key pillar for a strong economy.”

Mr Townend said he “really hoped” that discussions on NHI and healthcare reform could be “non-political” and “non-sectoral”, although he acknowledged this was likely a forlorn hope in the Bahamas, especially with a general election looming.

He also told Tribune Business that KPMG’s NHI advisory work was being led by its Bahamas office and personnel, refuting suggestions by Dr Sy Pierre, the Medical Association of the Bahamas (MAB) president, that the local economic environment was not being accounted for in the scheme’s planning.

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned.

YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides.

Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property.

This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home.

We look forward to your continued support in this worthwhile endeavour.

MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100

CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus

OPPORTUNITIES • • • •

Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters

BENEFITS

• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care

Unique Vacations Limited is seeking strong candidates for the role of Corporate Compliance Manager.

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook

Summary

Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

This is a newly created role to take on responsibility for compliance matters across the Company and is expected to report to the company CFO. The role will oversee compliance with corporate and regulatory requirements.

Applicants should satisfy the following minimum requirements: • Have the ability to schedule, manage, monitor and review audits of operational and regulatory compliance in

accordance with the company’s policies, procedures, and local law.

• Possess strong knowledge and application of auditing techniques and standards • Be able to work independently setting own priorities and objectives in consultation with the Chief Financial Officer.

• Be able to take on and drive special projects deemed

necessary to elevate the efficiency, effectiveness and transparency of the Company’s processes.

• Ability to establish appropriate communication and professional relationships with the company’s Executive Management Team and our business partners at Sandals Resorts International.

• Possess the ability to drive change in a dynamic business environment.

• Flexibility for local and overseas travel as needed.

Qualification and Experience: • A minimum of a Bachelor Degree in a related field;

preferably Accounting or Law. • ACA,ACCA, CPA,CIA, or CISA qualification is required.

• Minimum of five years management experience in an

internal audit, fraud investigation function, or a public accounting environment.

• Proficient in Microsoft Office • Strong report writing & presentation skills.

• Working Knowledge of Oracle Application preferred.

Only short listed candidates will be contacted. Interested persons should submit their applications by January 27th, 2017 with curriculum vitae via E-mail to hrreport6@gmail.com

THE TRIBUNE

Tuesday, January 24, 2017, PAGE 7

Global stocks slip amid concern over Trump policies on trade BEIJING (AP) — Major global stock markets mostly fell on Monday after U.S. President Donald Trump promised “America first” policies, adding to concern about possible trade protectionism.

KEEPING SCORE: Germany’s DAX lost 0.4 percent to 11,586 while France’s CAC-40 shed 0.3 percent to 4,834. London’s FTSE 100 retreated 0.4 percent to 7,170. On Wall

Street, futures for the Dow Jones industrial average were roughly flat while those for the Standard & Poor’s 500 index declined 0.1 percent.

TRUMP ON TRADE: Trump has major U.S. trading partners who worry about his promises to restrict commerce and shift jobs back to the United States. Trump’s inauguration speech Friday repeated those themes but gave no

additional details. A Chinese state-run newspaper, the Global Times, said “dramatic changes” lay ahead for the global economic order.

ANALYST’S TAKE: “Trump’s inauguration speech really offered nothing new for investors to latch on, besides harping on old themes of economic ‘carnage’ that will be stopped,” said Mizuho Bank in a report. “His implication that previous U.S. policies

did not put America first sounds misguided, and thus any reversal of policy could well prove to be more negative than not,” it said. “The next 100 days would likely keep markets tense on any announcements as his policy platform is likely to see a large discontinuity from previous U.S. policy bias.”

CHINA UPTICK: China’s economic growth ticked up in the final quarter of 2016 but the full-year expansion was the weakest in three decades. The world’s second-largest economy grew 6.8 percent over a year earlier, up from 6.7 percent the previous year. For the

full year, the economy grew 6.7 percent, down from 6.9 percent in 2015 and the weakest since 1990’s 3.9 percent. Growth was supported by government spending and a real estate boom. Economists said the temporary upturn was unlikely to last and a renewed slowdown should emerge in coming quarters.

ASIA’S DAY: The Shanghai Composite Index rose 0.4 percent to 3,136.77 and Tokyo’s Nikkei 225 fell 1.3 percent to 18,891.03.

Sydney’s S&P-ASX 200 lost 0.8 percent to 5,611.00 and Hong Kong’s Hang Seng was unchanged at 22,898.52.

India’s Sensex held steady at 27,050.93 and Seoul’s Kospi was unchanged at 2,065.99.

New Zealand and Southeast Asian benchmarks gained.

ENERGY: Benchmark U.S. crude shed 79 cents to $52.43 per barrel in electronic trading on the New York Mercantile Exchange.

On Friday, the contract jumped $1.10. Brent crude, used to price international oils, retreated 72 cents to $54.77 in London. It soared $1.33 the previous session.

CURRENCY: The dollar declined to 113.67 yen from Friday’s 114.53. The euro gained to $1.0730 from $1.0702.

PUBLISH YOUR

LEGAL NOTICES

IN THE BAHAMAS LEADING NEWSPAPER IN CIRCULATION AND ADVERTISING CALL 502-2394 FOR MORE DETAILS

PAGE 8, Tuesday, January 24, 2017

THE TRIBUNE

US stock indexes close slightly lower; oil prices slide

AP Business Writer – Energy companies led U.S. stock indexes slightly lower Monday as the price of crude oil fell.

Real estate, phone companies and other high-dividend stocks did better than the rest of the market as bond yields headed lower, making those sectors more appealing to investors seeking income.

Investors focused on the latest batch of company earnings and deal news.

They also had their eye on Washington, where President Donald Trump reaffirmed plans to slash regulations on businesses and tax foreign goods entering the country.

“There was that huge rally postelection and things really were running on optimism,” said Lisa Kopp, head of traditional investments at U.S. Bank Wealth

Specialist Michael Pistillo, left, and trader Tommy Kalikas work on the floor of the New York Stock Exchange, yesterday. Stock indexes are little changed in early trading on Wall Street as gains in materials and technology companies are offset by losses in energy stocks and retailers. (AP Photo)

Management. “What you’re seeing now is people coming back to the idea that the policies aren’t exactly clear ... and (Trump’s) ability to actually push everything through exactly the way he wants is uncertain.”

The Dow Jones industrial average fell 27.40 points, or 0.1 percent, to 19,799.85.

The Standard & Poor’s 500 index slid 6.11 points, or 0.3 percent, to 2,265.20.

The Nasdaq composite index lost 2.39 points, or 0.04 percent, to 5,552.94. The Russell 2000, which tracks smaller companies, gave up 4.01 points, or 0.3 percent, to 1,347.84.

The major stock indexes were down slightly early Monday and veered little throughout the day as investors sized up company news and developments out of Washington.

At an early White House

meeting with business leaders, Trump repeated a campaign promise to cut regulations by at least 75 percent.

He also said there would be advantages to companies that make their products in the U.S., suggesting he will impose a “substantial border tax” on foreign goods entering the country.

Trump also signed a memorandum announcing the United States’ intention to withdraw from the multi-nation trade agreement known as the TransPacific Partnership, and said he would renegotiate the North American Free Trade Agreement.

Companies that issued

results or outlooks that fell short of Wall Street’s forecasts put traders in a selling mood.

McDonald’s fell 0.7 percent after the world’s biggest hamburger chain reported a fourth-quarter drop in sales at established U.S. locations. The decline snapped a streak of five quarters of increases.

The stock shed 88 cents to $121.38.

Halliburton slid 2.9 percent after the provider of oil and gas drilling services warned of weaker demand in markets outside North America and its revenue missed forecasts. The stock shed $1.65 to $54.80.

NOTICE International Business Companies Act No.45 of 2000 MERCURY INVESTMENT FUND LTD. (the “Company”) Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of MERCURY INVESTMENT FUND LTD. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 28th day of December, 2016.

Share your news

[Signed] Luciano Tadeu Silva Ramos Liquidator

MARKET REPORT MONDAY, 23 JANUARY 2017

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

BISX ALL SHARE INDEX: CLOSE 1,919.91 | CHG 0.02 | %CHG 0.00 | YTD -18.30 | YTD% -0.94 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.55 4.70 0.12 8.21 8.50 6.10 10.60 15.48 2.72 1.60 5.82 9.75 11.00 9.00 6.90 12.25 11.00

52WK LOW 2.70 17.43 8.19 3.50 1.77 0.12 5.05 8.05 5.50 7.72 11.00 2.18 1.31 5.60 6.70 8.56 6.12 6.35 11.81 10.00

1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01

1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01

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 Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00

52WK LOW 100.00 100.00 100.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +

SYMBOL FBB17 FBB18 FBB22

Bahamas Note 6.95 (2029) BGS: 2014-12-3Y 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 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.02 3.91 1.93 169.70 140.34 1.46 1.67 1.56 1.10 6.96 8.50 6.30 9.94 11.21 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.41 1.61 1.52 1.03 6.41 7.62 5.66 8.65 10.54 9.57

LAST CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.05 8.50 5.83 10.50 11.93 2.05 1.60 5.82 9.75 10.95 8.80 6.90 11.93 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 107.91 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.05 8.50 5.83 10.50 11.93 2.07 1.60 5.82 9.75 10.95 8.80 6.90 11.93 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.11 100.00 100.00 100.00 10.00 1.01

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

CLOSE 100.00 100.00 100.00

CHANGE 0.00 0.00 0.00

108.07 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.16 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

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial 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

VOLUME

710

VOLUME

5

NAV 2.02 3.91 1.93 169.70 140.34 1.46 1.66 1.56 1.07 6.96 8.50 6.30 9.80 11.13 9.63

EPS$ 0.029 1.002 -0.144 0.170 -0.130 0.000 -0.030 0.607 0.430 0.450 0.110 0.102 0.080 0.300 0.520 0.960 0.820 0.294 0.610 0.000

DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.090 0.300 0.220 0.360 0.490 0.060 0.060 0.240 0.400 0.000 0.330 0.140 0.640 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 151.0 15.8 N/M 20.7 N/M N/M -168.3 14.0 13.6 23.3 108.5 20.3 20.0 19.4 18.8 11.4 10.7 23.5 19.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022

6.95% 4.00% 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 15-Dec-2017 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 NAV Date 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Sep-2016 30-Sep-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016

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 1.83% 6.31% 0.00% 5.97% 0.00% 0.00% 1.78% 3.53% 3.77% 3.43% 4.11% 2.90% 3.75% 4.12% 4.10% 0.00% 3.75% 2.03% 5.36% 0.00%

INTEREST 7.00% 6.00% Prime + 1.75%

YTD% 12 MTH% 3.91% 4.21% 3.71% 3.98% 2.43% 2.71% 4.73% 5.64% 5.70% 7.66% 3.56% 3.91% 2.22% 2.79% 2.80% 3.18% 2.99% 2.26% 4.35% 4.69% 4.13% 4.28% 4.22% 4.64% 6.19% 3.43% 2.77% 2.98% -3.66% -3.90%

Corporate deal-related news also moved some stocks.

Kate Spade climbed 3.6 percent after Bloomberg News reported that the handbag maker has attracted takeover interest from Coach, Michael Kors and international companies.

Kate Spade rose 64 cents to $18.40.

Sprint gained 2.8 percent following news the mobile phone carrier is buying a 33 percent stake in Tidal, the music streaming service owned by artists including Jay-Z. The stock added 25 cents to $9.18.

Aetna fell 2.7 percent after a federal judge rejected the health insurer’s plan to buy rival Humana for about $34 billion. Aetna said it is reviewing the opinion and is considering an appeal.

Aetna’s stock dropped $3.33 to $119.20.

Meanwhile, Qualcomm fell 12.7 percent on news that Apple is suing the maker of semiconductors, one of its major suppliers, for $1 billion in a patent fight.

Qualcomm was the biggest decliner among companies in the S&P 500 index, sliding $8 to $54.88.

The slide in crude prices weighed on the energy sector, which fell 1.1 percent.

Oil and gas rig operator Transocean slumped 55 cents, or 3.6 percent, to $14.76.

Benchmark U.S. crude fell 47 cents, or 0.9 percent, to close at $52.75 per barrel in New York. Brent crude, used to price international oils, slid 26 cents, or 0.5 percent, to close at $55.23 per barrel in London.

Major global stock markets mostly fell amid concerns that the Trump administration will pursue trade protectionism policies.

Germany’s DAX slid 0.7 percent, while France’s CAC-40 fell 0.6 percent.

London’s FTSE 100 gave up 0.7 percent.

In Asia, a report showed that China’s economic growth ticked up in the final quarter of 2016, but the full-year expansion was the weakest in three decades.

Hong Kong’s Hang Seng was unchanged. Tokyo’s Nikkei 225 fell 1.3 percent.

The 10-year Treasury yield slid to 2.40 percent from 2.47 percent late Friday. Yields had generally been climbing since Election Day on expectations that a Trump administration would spur more inflation and economic growth.

In currency markets, the dollar declined to 113 yen from 114.31 yen Friday. The euro rose to $1.0746 from $1.0707.

Among metals, the price of gold gained $10.70, or 0.9 percent, to $1,215.60 an ounce. Silver added 15 cents, or 0.9 percent, to $17.19 an ounce. Copper rose 2 cents to $2.65 a pound.

In other energy trading, wholesale gasoline was little changed at $1.57 a gallon, while heating oil slipped 2 cents to $1.63 a gallon. Natural gas futures rose 4 cents, or 1.2 percent, to $3.24 per 1,000 cubic feet.

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

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NOTICE

NOTICE is hereby given that FRANCLIN DEMELIEN of Treasure Cay, Abaco, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 24th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JEFFREY OSCAR of Windsor Place, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CHEKILOR ALEXIS of P.O. Box CR-55963, Garden Hills, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 24th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, TERICO ONIQUE ClaRkE also known as TERICO ONIQUE DEaN of Nassau, Bahamas intend to change my name to TERICO ONIQUE PENN. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the

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date of publication of this notice.

THE TRIBUNE

Tuesday, January 24, 2017, PAGE 9

b o dy an d m in d

Bahamas has ‘highest overweight rate’ in the Caribbean and Latin American

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

Cultural shift needed to battle problem

new report has ranked the Bahamas as the country with the highest percentage of overweight people in Latin American and the Caribbean.

The 2016 report by the Food and Agriculture Organisation of the United Nations (FAO) and the Pan American Health Organisation (PAHO) estimates that nearly 70 per cent of the Bahamian population is overweight.

Obesity and overweight are on the rise throughout Latin America and the Caribbean, except for Haiti, the FAO reports, and are particularly prevalent among women and children.

The Panorama of Food and Nutrition Security in Latin America and the Caribbean noted that close to 360 million people – around 58 per cent of the inhabitants of the region – are overweight, with the highest rates observed in the Bahamas (69 per cent), Mexico (64 per cent) and Chile (63 per cent).

With the exception of Haiti (38.5 per cent), Paraguay (48.5 per cent) and Nicaragua (49.4 per cent), overweight affects more than half the population of all countries in the region.

The report also noted obesity affects 140 million people – 23 per cent of the region’s population – and that the highest rates are to be found in the Caribbean countries of Barbados (36 per cent) Trinidad and Tobago, Antigua and Barbuda all at around 31 per cent.

The increase in obesity has disproportionately impacted women: in more than 20 countries in Latin America and the Caribbean, the rate of female obesity is 10 percentage points higher than that of

men.

Speaking with Tribune Health about the new report, licenced nutritionist and dietitian Shandera Smith said it will take a cultural shift to tackle overweight and obesity in the Bahamas.

“Our diet for one is very different from that of other Caribbean islands. Culturally speaking, our idea of food has more fat, more sugar and salt. We eat a lot of things like peas and rice, macaroni, fried chicken and fast foods as well. We tend to drink a great deal of sweetened beverages and a lot of these beverages are marketed towards children. All of this contributes to obesity and overweight because these foods do very little for our bodies,” she said.

Ms Smith, who is also a member of the Bahamas Association of Nutritionist and Dietetics (BAND), she has found that many people do not eat a sufficient amount of fruits and vegetables.

“Our diets are lacking fruits and vegetables, and if people can get more of that, it would help,” she said.

“We encourage people to eat native fruit as well. What we find is that a lot of children don’t consider the native fruits like the dilly a fruit. When you ask them what a fruit is, they say apples or oranges.

Eating the native fruits benefits people because they are cheaper and the nutritions that they we get from them are better suited for the environment that we live in so we don’t have to worry,” she said.

While a healthy diet is one part of the equation, staying physically active is the other vital one.

“People seem to be getting the message about being active, but the way they see exercise must change. Some people only ex-

A

The typical Bahamian diet is contributing to obesity and overweight being on the rise. ercise when they want to lose weight, which is still good, but I think we need to shift the thinking of people so that they see exercise as something vital that needs to happen everyday. We know that with the prevalence of crime people are afraid to go out and be active, but we have also been trying to get people to do so things in their own homes,” she said.

“As for children, they are not as active as they should be. While in school, physical education is only offered once a week, so kids only have this time be active while in school. So our culture seems to feed the obesity problem we are

currently faced with.”

Ms Smith said there is no “cut and dried” route to tackling obesity on a national scale, however, even small changes in diet and exercise practices can make a big difference in the long term.

The new FAO/PAHO Panorama report points out that one of the main factors contributing to the rise of obesity and overweight has been the change in dietary patterns. Economic growth, increased urbanisation, higher average incomes and the integration of the region into international markets have reduced the consumption of traditional prepara-

tions and increased consumption of ultra-processed products, a problem that has had greater impact on areas and countries that are net food importers.

According to FAO’s Regional Representative Eve Crowley, “The alarming rates of overweight and obesity in Latin America and the Caribbean should act as a wake-up call to governments in the region to introduce policies that address all forms of hunger and malnutrition by linking food security, sustainability, agriculture, nutrition and health.”

This Saturday, the Caribbean Sweat Fitness team will host its third annual Fitness Concert to help Bahamians get fit in a fun way.

Getting fit to the beat

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net For the third consecutive year, the Caribbean Sweat Fitness (CSF) team will host its highly anticipated Fitness Concert at Mario’s Bowling and Entertainment Palace.

This Saturday, from 6pm to midnight, fitness instructor and personal trainer Macumbla “Comby” Smith and his CSF crew will lead Bahamians in fun, Caribbeaninfluenced dance fitness routines.

“For years I’ve brought my experience as an entertainer to the aerobics room, and people love it,” Mr Smith told Tribune Health.

“My vision was to take the excitement from the classroom, move it to a bigger arena and add in elements that would turn the class into a real entertainment experience. Back in 2002, I had this vision of being on stage in front of a large crowd doing my fitness routines. When Caliope Sandiford joined the team in 2013 she added

Unique concert event gets Bahamians moving structure, expanded and further developed the vision. We’re now one step closer to the realisation of the vision.”

Mr Smith said CSF’s long-term aim is to also change the nation’s attitude towards fitness by presenting it as a fun activity, and subsequently have it play a big role in the fight against overweight and obesity.

“In my regular classes I offer a high-energy aerobic workout, but first and foremost I sell fun.

In the concert atmosphere I slow the pace a little to encourage people to join in. I allow people to move and enjoy the workout. All of my routines are choreographed to popular Caribbean beats. I’ve been doing this for some 14 years and I believe I was one of the first, if not the first to bring Junkanoo

to the aerobics room,” he said.

Mr Smith said Saturday’s event is for all from the age of 14 straight up to 70; the key is to go at your own pace, have fun and enjoy yourself while moving to the beat.

“I am looking forward to the opportunity to do what I do. Entertain people and get them excited about moving. This is the road to the realisation of a life-long dream; it truly means a lot,” he said.

He said he has definitely seen a lot of growth from the very first concert in 2014 to the present.

While his vision has not been fully realised as yet, he said the journey has been extremely fulfilling.

“We will get there. We just have to be consistent, persistent and continue to do what we can with what we have. Even though attitudes have come a long way in the last five years as it relates to health and wellness in the Bahamas, it still should be taken more seriously. They need to be placed on the priority list of each and every Bahamian. Fitness needs to become

Macumbla “Comby” Smith, owner of Caribbean Sweat Fitness

a lifestyle,” said Mr Smith.

The event will also be held as a fundraiser for a knee replacement surgery for Mr Smith, who suffered an injury as a result of a motorcycle accident in 1999.

After 16 years of “beating Bay Street” as a free dancer of the Colours Junkanoo group and jumping across the floors of every gym on the island as an instructor, the injury is flaring up and is now in need of serious medical attention, he said.

“Bring your rag, bring your flag, come in your workout gear and wear comfortable tennis; we are going to be moving! I want to thank everyone who’s contributed in any way. It’s absolutely the truth that a vision cannot be carried by one person,” said Comby.

Tickets are $30 at the door and $25 in advance, and are available at Club One Fitness, JLine Fitness and Diehard Games Club on Robinson Road. To register visit the website www.caribbeansweatfitness.com.

PAGE 10, Tuesday, January 24, 2017

THE TRIBUNE

Are you aiming to take your life higher?

Aiming to take your life higher isn’t about achieving some external outcome. Actually, it’s more about experiencing a higher level of self-awareness and selffulfillment. It’s about being fully engaged in the development of a positive outlook for your life.

Where you are focused not only on looking forward to see what you want, but where you take time to reflect on yesterday. You are then better able to divorce yourself from habits and behaviours that counterproductive.

Every journey has a beginning and an intended destination. Your life journey is no exception. However, it is up to you to take the first step by designing the kind of life you want to live.

The first line in the national anthem of the Bahamas admonishes you to “Lift up your head to he rising sun”.

You cannot aim to take your life higher if your head facing the ground. I believe that the anthem of a nation impels the people towards their greatest good.

It certainly does so for me. As such, despite the many challenges that will invariably come your way, you still pledge to excel. Because courage is not the absence of fear, just the realisation that some things are more important than fear.

Taking your life higher is a personal pledge and it has much to do with your willingness to commit.

Many believe that “everything is possible”. However, while this may be a motivating adage, the fact of the matter is everything is only possible with commitment.

Fail to invest your commitment and you will not achieve your desired outcome. Your capacity to take your life higher requires a

Michelle Miller Motivationals

Michelle M Miller major investment of commitment.

This speaks to you being mindful and responsible for the way you expend your time, your attention.

“Pay attention” is a very familiar phrase used by teachers to get students to focus. If students don’t pay attention they miss out on the lesson being shared. Taking your life higher has a price. You must pay attention. In other words, you pay with your attention.

This should clue you into the fact that your attention has incredible value. For this reason you ought to be very discriminate about the way you expend your attention. With the myriad of free media platforms such as Facebook, WhatsApp, Snapchat and the various talk shows, many find themselves absentmindedly trapped; held hostage by the habit of ceaseless talking, texting and posting. The bulk of which produces nothing. No positive changes. No self-improvements. No life solutions. Yet this habitual time wasting has become a way of life for many.

“...Many find themselves absentmindedly trapped; held hostage by the habit of ceaseless talking, texting and posting.

The bulk of which produces nothing. No positive changes. No self-improvements. No life solutions. Yet this habitual time wasting has become a way of life for many.”

Wastefully spending the currency of your attention is an unfortunate misstep that cannot empower you to take your life higher. Your time is a gift that must be respected. One thing I know for sure is that time always tells. Time is the great equaliser, levelling the playing field. Everybody gets 24 hours per day. Time reveals exactly what you have been doing or not doing with it. Time always tells.

Take for example an individual who has a habit of misusing alcohol. Without receiving some kind of positive intervention it is only a matter of time before they become an alcoholic.

Similarly, the individual who commits to studying law and doesn’t fall prey to any distract-

ing factors in time becomes a fully qualified attorney.

Time doesn’t discriminate; it doesn’t play favourites. It only exposes what you have been doing with it. Perhaps you’ve wasted a lot of your time last year and you desire this year to be better.

That’s a great thing. But you cannot experience something better until you become someone better.

This means that before you can improve your life you must first improve yourself.

Leader to leader, take time to reevaluate how you spend your time. Once you are ready to commit to improving your life, consider joining my upcoming Life Outlook Goals programme designed to help you set higher goals and redirect your life.

This interactive session will help you better understand who you are and clarify what you really want for your life. Remember that growth must be intentional.

Nobody can make you grow; you must choose to grow from the inside out. Aiming to take your life higher is about your personal growth. When you take the time to grow you drive your life forward. In so doing, you take another giant step towards living an empowered life. And yes, you definitely can do it.

What do you think?

Please send your comments to coaching242@yahoo.com or 4296770.

• Michelle M Miller is a certified life coach, communication and leadership expert. Visit www. talktomichellemiller.com or call 1-888-620-7894; mail can be sent to PO Box CB-13060.

Gangs, violence and inequality discussed again, and again, and again For the past few weeks this column has dedicated a great deal of focus to gangs and gang violence because it is such a serious national and international problem.

After having researched this area for the last 10 years, I found there seems to be little progress made, especially in the Caribbean, because of the refusal to change the way we address situations of insecurity and the steadfast ways in which we operate on a cultural level.

Men must be tough, hard and violent, unable to express any manner of kindness or warmth, and women are expected to be soft and nurturing (but it doesn’t mean they don’t participate in gangs (as long as we have dysfunctional families all persons can look to gangs for identification).

Boys and men cannot be nurturing, according to Bahamian cultural politics. These are seriously damaging ideas that have been brought over from slavery, colonialism and disenfranchisement through nationalism and Majority Rule.

Ironically, the same talk about young, poor, black males being dangerous and a threat to the nation has been adopted by the ruling classes, notwithstanding its old colonial legacy.

We so often hear talking heads discussing the need to be Christian and the need to bring men into education. But neither of these is an answer when education is nationally seen as unimportant, especially for young men.

Studies upon studies have demonstrated that Bahamians do not invest in educating their boys, especially if they are working class.

However, they will educate their daughters. Education is seen as

Dr Ian Bethell-Bennett feminising and not necessary for a man who can succeed without it, but this is proving to be nationally devastating. It is not a problem of the Ministry of Education alone, but a national, socio-cultural problem. At the same time, we tell boys that they must be tough and violent, yet we somehow expect them to be this when only when we want them to, never mind that we do not teach them when it is important to be peaceful.

“Ya gyal cheat on ya, beat she Ya boy talk bad to ya, beat he Ya mudder shout at you, hate woman Ya fadder is a no good What you is?”

Spare the rod We so often hear this adage attributed to the Bible as sound advice for rearing children.

Only, this is not about beating children with bats, electrical wire, 2x4s; this is about discipline.

We have inherited this gusto for whipping from slavery and it is a cultural trait that has produced a great deal of psychological damage and trauma, but the usual argument is, “I survived”.

But how badly do you beat your children? When we beat, whip and thrash our children until they are black, blue and bleeding, we are not disciplining them but destroying their souls.

If we look back at slavery we see this was done to slaves to break them. Why do we want to break our children? Our job as parents is to build them up, not pull them down. The rod is not a branch or a nasty tongue steeped in vinegar and lye. It is in fact structure that many of us lack because so many of the younger generation have ADHD and ADD because of all the trauma, hatred, social violence and bad diets. You cannot behave well if you are so strung out on sugar you can’t keep still and will crash within two hours of getting to school in the morning. It is not coincidental that resource-poor children have poor diets and do worse at school, unless their parents are conscientious and do their best to provide them with real food, not chips and soda for breakfast. This is the food of failures!

Structural violence Sending children to crumbling schools is violence. Sending children to schools where teachers cannot teach, do not like children, and beat the heavens out of them, is violence. Sending children to schools where gangs are actively participating in the daily life, is violence. Sending children to schools where there is no electricity, no running water, mould, no supplies except for what the teachers must bring, is violence.

We send them there because we expect them to fail. By sending them to these schools we expect them to succumb to being told

they are dumb, stupid, ignorant, criminals. They learn well from what they are told and taught they are. This may be a holdover from slavery and colonialism, but it is not natural nor is it necessary.

Structural violence is when we graduate students who cannot read, or promote them to the next grade without any of the skills they need, or should have acquired in the grades before. We set them up to fail. Studies show that the more we expect failure, the more we teach them to fail, the more they will fail.

Yet we expect them to be something different from a failure, even though everything around them says ‘fail’.

Structural violence is when we arrest young, black men because they are young and black and they should not be anywhere where they are not welcome.

They should not be in groups in the streets. They should not walk on Bay Street or Shirley Street in groups. The law allows us to detain them for days without charging them. And the violence that occurs while they are detained?

And the failure that results when this is put on their record? And the impact this has on the cultural structure of the nation?

Gang violence is violence on steroids only if we think that beating a woman is any different form beating another man. Gang violence is the result of telling people they do not belong, picking them up, deporting them to a country they have never been to, or telling them that they cannot attend school, seek healthcare, learn to read, have a home that is not in a shanty town.

Gang violence is only different from killing someone because you don’t know how to communicate

with him because you failed in seventh grade, and because we say it’s different.

The church cannot save the family that does not exist. The Christian faith cannot save the person who is being beaten to a pulp by a group of people and must protect him or herself by joining a group that will help keep him or her alive.

The community that has fallen apart and is too busy making money to buy ‘tings’ can’t do anything to stop gang violence. This is where the gang comes from.

Cultural violence Cultural violence is justified by structural violence that has erased the person and made them a cog.

We treat these young people as if they do not matter and then we expect the to behave differently.

We have boys who will rape girls only because they have seen this in their homes with parents, grandparents, uncles, aunts. We tell them that is what men do. We have boys who cannot speak, cannot read, cannot problem solve, but we expect them to do other than succumb to peer pressure.

How? Gangs are real. They are an international, transnational, national, local and unfortunately part of the inequality and disparity that comes with this model of development where leaders see themselves as better than the people they claim to identify with. Gangs are here, and violence is here, so how do we move past these without forgetting or denying them?

We need a total change in programming.

Act quickly, restore your teeth!

One of the most common health problems children, teens and adults suffer from is cavities (dental caries). A cavity develops when your tooth begins to decay.

Initially, the cavity is small in size but over time it can grow deeper and larger.

There are many factors that contribute to the development of cavities but once detected, your dentist will be able to treat the disease and your tooth will be healthy once more.

Cavities (dental caries) are caused by acid erosion of the tooth enamel. Many types of bacteria live in the mouth and along with food particles and other natural substances form a biofilm called plaque. The bacteria in this sticky film convert sugar and carbohydrates in the foods we eat into acids. The acid dissolves minerals in the surface of the tooth, forming cavities.

Whenever you visit your dentist, proper oral hygiene is normally stressed. If you do not use the correct brushing technique and floss at least once a day you are not removing plaque from your teeth. Failing to remove this

Dr Tamika Ferguson plaque leaves your teeth susceptible to cavity formation.

If you are a regular dental attender, you know your dentist has various methods to detect cavities. The first would be simply observation or clinical examination. If your tooth is discoloured this may indicate decay, your dentist will take his/her explorer and probe for possible decay. If the enamel is healthy, it will resist the light pressure from the explorer, if decay is present the explorer will

stick slightly.

Another method for cavity detection is radiographs. A radiograph will show decay in areas where it is difficult for your dentist to see, the interproximal areas of the teeth. It will also show how deep the cavity has developed.

Some other methods for cavity detection which are not as popular are cavity-detecting dye and laser fluorescence.

Your dentist will advise you on proper treatment for the tooth depending on the depth of the cavity. You may require a filling or a root canal. In most cases, if you visit the dentist regularly a filling should be the required treatment.

Once your dentist gives you your treatment options, you should not take long to act because caries can reach painful levels within months.

A filling is a procedure to remove decay and restore your tooth to its normal function and shape. When your dentist gives you a filling, often times a local anaesthetic is used to numb the tooth, then a drill will be used to remove the decay.

Once the decay is removed, the

Fight tooth decay early on dentist may place a liner or base to protect the nerves of the tooth (if the cavity is large). Then your dentist will place their preferred type of restorative material.

After a filling you should be able to eat and function normally.

For others, there may be some sensitivity felt, this sensitivity should decrease over one to two weeks. If you still experience sensitivity after this time you should contact your dentist for further

evaluation of the tooth.

Dental caries (cavities) are one of the most common diseases, the best preventative advice would be to maintain a proper oral hygiene routine and keep up to date with your dental visits.

Further, if you do have cavities, have them restored before the tooth becomes painful or the tooth can no longer be saved. So, see your dentist today.

THE TRIBUNE

Tuesday, January 24, 2017, PAGE 11

A love affair renewed

E

zralee Rolle recently joined the Bahamas Agriculture and Marine Science Institute’s (BAMSI) team as a lecturer in biology and environmental sciences.

What makes her employment remarkable is that she is an Androsian by birth – daughter of Bettymae and Ezra Rolle from North Mastic Point – who watched BAMSI spring forth and grow, and then decided that she would gain the skills necessary to position herself to one day fill a place at the institute.

Like for many young Family Islanders – including her 11 siblings – leaving Andros after graduating from high school in 2001 was the best, even only option in Ms Rolle’s view.

“You swore you’d never return to Andros, there just was nothing going on, nothing there,” she said.

She quickly headed for Nassau, where she landed a job, and eventually completed a Bachelor of Science degree in Biology, Combined Science and Education from the University of the Bahamas (UB).

As fate would have it, however, BAMSI would be the bridge that would reconnect her to the island of her birth.

In 2014, BAMSI was established and its launch opened a window for Ms Rolle, a window which revealed what life could be

BAMSI takes on Androsian Ezralee Rolle like on Andros if she had a means to pursue her passion.

And so began a period of intense examination.

“I’ve been tracking BAMSI in terms of wanting to get involved in what it is that BAMSI is about, which is Bahamians finally taking the lead in agriculture,” Ms Rolle said. “And I love the idea that the plan was executed in Andros! I like the idea that they made use of the wide open space in Andros to diversify the economy and get people off Nassau, and also get people like me to go back home, and have a job or means of providing a lifestyle for myself while being in that type of environment - that’s something that I didn’t have before, that wasn’t an option before.”

Ms Rolle joins the BAMSI team as an integral cog in the academic wheel. As a science-based institute, biology is a foundational course for both the agriculture and marine science streams. It is imperative that students are steeped in the theoretical and practical aspects of the science and have a firm grasp of its application, so lecturers who are well versed in the subject area and are able

Ezralee Rolle is a new lecturer in biology and environmental sciences at BAMSI. to connect the learning experience with the science of growing, harvesting and ex-

Just breathe

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net WOMEN were inspired to leave the burden of past hurts behind them and find the strength to start afresh during a unique event presented by Eve’s Journey Life Coaching Institute.

‘Breathe’ was a free event for women recently held at the National Art Gallery of the Bahamas. It was designed to help women jump-start 2017 with a new focus in mind: the importance of forgiveness, self-love, living in truth and taking care of oneself.

The Eve’s Journey organisation said it created a forum for women

Women let go of burdens of the past to exhale, release and let go of everything and everyone who held them back last year.

“It was a funeral service for the past and a celebration of what is to come,” said Stanya Davis, founder of the coaching institute and the host of “Tell it to Stanya!”.

“The focus of ‘Breathe’ was to encourage, inspire, and simply do as its name implied breathe. I wanted to achieve this by a creating sacred space for women

ploring the growth of food and the nation’s marine life are of significant value to

to take off the mask and speak truthfully about who they are and where they have been on their journey. The night was one of storytelling, laughter, forgiveness and good old-fashioned female bonding.”

The event featured a slate of women with interesting stories to share. They included spoken word artist Tracy Stubbs, authors Nekisha Rolle and Kiethra Morley, and Pastor Latisha Rolle.

“Those in attendance also had the opportunity to share their stories and participate in healing activities that allowed them to not only connect with the other women, but also with themselves,” Ms Davis said.

“I organised this event primarily for women because something powerful happens when we come together and set an intention. The intention that night was to begin

the institute.

“I’m excited to be a lecturer at the institute. As a lecturer I will bring all of my experience that I’ve had with education and working with students not only for their personal betterment, but also the betterment of communities and, essentially, of the nation,” she said.

In Ms Rolle, BAMSI has found an educator who has actively pursued what was important to her and used her platform as a biology teacher, in both the private and public school systems, to incorporate agriculture and a passion for growing food into the consciousness of her students.

Her portfolio includes the launch of the Bahamas Reef Environment Education Foundation (BREEF) Eco Schools Programme while at Temple Christian High School. The programme allows students to spend time outdoors and experience more of the environment.

It focuses on activities that involve the beautification of the campus - looking at ways for more sustainable uses of energy, promoting recycling, and also has students working in the school’s garden. “This was my attempt to get children to appreciate where food comes from, and the importance of sustainability,” said Ms Rolle.

Focused on the way forward, Ms Rolle, like any good investor, is ready to take full advantage of her

the healing process of taking care of the most important person in their lives – themselves,” she said.

Ms Davis said she was inspired by a few events last year that opened her eyes to the need of taking better care of herself.

In turn she wanted to share that same message with other women.

“That was the message that I wanted to share. As women we are encouraged to be all things to everyone else, instead of putting ourselves first. As a matter of fact, we have become so brainwashed that when we do put ourselves first we begin to feel guilty and ashamed that we did. ‘Breathe’ served as a reminder that we deserve to love ourselves unconditionally, and that it is OK to simply be you,” said Ms Davis.

“Stories are powerful. We know that we are healed when we can share where we have been without

place at BAMSI. As someone who has a personal interest in agriculture and the nature of growing food, she is looking forward to the learning aspect as well.

She is currently working towards a Master of Science degree in Agriculture and Life Science from Virginia Polytechnic and State University.

“This is something that I feel will be great for me in terms of how much I can learn and how much information I can gain, (having access to) people with all these diverse backgrounds in marine biology and different sciences. This is something that I can definitely feed off – helping my own personal development and aspirations. “ Looking forward to a satisfying career with BAMSI, Ms. Rolle said she fully endorses the goals and vision of the institute.

“I personalised it to make it my own mandate to extend this vision throughout our whole country. I believe in education, I believe in the power of unifying people to a cause that makes sense. It makes sense for us to be able to feed ourselves It makes sense for us to develop products that we can easily make right here in the Bahamas as opposed to importing products from all over the world. So I endorse BAMSI and I think that in the long term it will be something that builds our nation,” she said.

“(Women) have become so brainwashed that when we do put ourselves first we begin to feel guilty and ashamed that we did. ‘Breathe’ served as a reminder that we deserve to love ourselves unconditionally, and that it is OK to simply be you,” said Ms Davis. shame and guilt. Healing takes place in the heart of those hearing our stories as well, because sometimes the only way for a person to see themselves is through the eyes of another.”

Trends that are keepers The world has changed drastically over the last decade or so.

The way we think and choose to raise our kids, the ideals we subscribe to, and the things we value as important have somewhat changed as well.

I often wonder if there has been another time period in life in which the world changed at a faster speed. Don’t forget that it was just 10 years ago that Apple launched its smartphone, and just a mere seven years ago that Pinterest launched.

Can you imagine a life without smartphones and Pinterest?

Yeah, me neither. Some might argue that we’ve all become socially antisocial. Whatever side you fall on in respect to the technology subject, there are a few trends nowadays that may seem to point out that simplified views on living are alive and well.

Here are a few trends for 2017 according to Pinterest’s 100 official trend report for 2017: • If you can make it yourself, it’s better that way Everything from creating indoor/outdoor gardens to making your own makeup is popular right now. People are looking for ways to be creative and reduce chemicals and harmful products in their lives.

• Natural rocks There is a huge trend that promotes using natural wood in the baby nursery. Gender neutral and super contemporary chic nurseries are so 2015. Driftwood, light brown and grey give a neutral and natural feel to the nursery for 2017.

• Bye, bye baby names Apple, Grey, Lulu, Penn and Maddox may be a thing of the past. 2017 trends suggest that parents may be moving towards the more classic names like Emily, Alice, Henry, George and Nathan.

• Non-GMO Parents are really concerned

Bun In The Oven

Bianca Carter about the food they are giving their family. Since the explosion of the GMO foods in the food stores, parents are pushing to have foods properly labelled so that they can make better food decisions for their family. Still wondering what all the fuss is about GMOs? Check out the blog for a short video that will tell you.

• Essential oils and natural products Remember when buying something already prepared and in a box was the gold standard in consumable items? That was so 1990.

And I really don’t remember too many people in the ‘80s that were running out to buy essential oils to make their own skincare and healthy products. Now you can find tons of recipes and uses for essential oils and my favoritecoconut oil.

• Back to basics Even though technology is great, parents of today are focused on limiting tech time in their households, and opting for crafting and games that improve their child’s development skills.

• Yoga, detox and wellness There’s this movement of healthy living that is at the top of most people’s minds. Gone

Natural wood is a very popular trend baby nurseries in 2017

are the days when just doing an hour of cardio was enough. People are looking for a mind, body and soul experience. Yoga, Pilates and meditation have taken over from more traditional forms of exercise. It’s all about homeostasis and wellness these days. If you went to see Deepak Chopra a couple weeks ago at Atlantis, hosted by Atlantic Medical, you’ll understand this concept. It was fabulous! #deepakchopraami2017 Love & hugs!

• Bianca Carter is a certified lactation counsellor and founder of Bun in the Oven.

For more information, e-mail her at info@babybunintheoven.com. Follow BITO on Facebook at babybunintheoven, and check out the BITO Blog every Monday and Thursday at http://babybunintheoven.com.

WHERE HIT MUSIC LIVES W W W .

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Fighting to survive

TUESDAY, JANUARY 24, 2017

“(My aunt and uncles) were not elderly people, but on what seemed like a typical, average day their hearts just stopped.

It terrified me.”

By ALESHA CADET

Tribune Features Reporter

acadet@tribunemedia.net

T

hearing about ketosis, a metabolic process, from a cousin who had experienced success with it herself, Jessica thought it was a good route for her to take as well.

“When your body is in ketosis, rather than burn carbohydrates for energy, it burns fat cells. To get into ketosis I just had to limit carbs, and that’s how the Atkins Diet came into my life. I knew that it was something that would work for me because quantities and calories were not limited, just carbs. Once I stayed within my carb count for the day, I could essentially eat as much as I wanted. In order for me to see it through, I knew I couldn’t feel restricted,” said Jessica.

The first few days were challenging, but once she made it through that first week she said what kept her going was the thought that, “If I quit now, that means I suffered through that first week for nothing. Just keep going.”

In the months after, Jessica said what motivated her were her results.

“I didn’t do much in the way of exercise during the first six months because I just didn’t feel comfortable going to a gym at that time.

My sister pushed me to buy my first pair of workout leggings, which I was mortified to put on because they showed everything and then some. My cousin walked with me up and down the Cable Beach strip every day after work. They were both far fitter than me, so it must have been torture for them to walk so slowly when they could be running the strip or beating it in the gym. That was it – diet, light exercise, and some support from my girls; and my life was never the same again,” said Jessica.

Every time she stepped on the scale from then on it felt like she had received an ‘A’ on an exam. She then added swimming to her exercise regimen. By this point Jessica had lost around 60 pounds.

She became a regular at the gym, found herself in the weight area with the big guys and just like that, another 20

pounds were gone.

“Once I hit the 100-pound loss mark, I switched from Atkins to calorie counting, because while Atkins worked, it’s really high in fat, so I didn’t want it to be long-term,” she said.

“And after spending so much time not eating things like fruit, sandwiches, oats, etcetera, I started to feel restricted. Luckily, calorie counting worked for me. I didn’t lose as fast as I did on Atkins, but I was also closer to what I imagined my goal weight should be, so logically the weight loss would slow down. Fast forward to today, I find myself 120 pounds lighter than that dark September day in 2013, having spent the day on the beach in a bikini, muscles still recovering from a half marathon the weekend before, comforted by the thought that however much work I still have ahead of me, my aunt and uncles are proud as hell of me,” said Jessica.

At the risk of giving a cliché response, Jessica said what makes her happy is seeing other people succeed in the weight loss game. Because she knows first-hand how hard it is and how good it feels to accomplish your goals, Jessica wants everyone to experience that feeling.

She also found it important to point out that something that is often not discussed enough in reference to weight loss is loose skin.

In a country where it is swimsuit season all year round, Jessica said this is something that will impact those looking to lose 100 pounds or more.

She said there is no way to determine how much loose skin you might end up with, and there’s no way to prevent it.

“Coming from someone who has had some loose skin removed and is still left with some in other areas, it is not a reason to put off losing the weight. At this point though, my goals are to become stronger, to be able to run further and faster, and just push myself to do things that my body couldn’t do while carrying that extra weight,” said Jessica.

BEFORE and after: Jessica in 2013 (left), and in 2017, after shedding 120lbs.

Photos/Christine Wallace-Whitfield

he desire to fit the standard beauty ideal was never enough to motivate Jessica Wallace-Whitfield to lose weight. After all, she was always confident in her beauty. Rather, it was the wish not to become another victim of heart disease and force her parents to bury their child that finally moved the young Bahamian woman to embark on her weight loss journey which saw her shed 120 pounds.

From birth, Jessica was described as a “chubby baby” and “plump child”. These descriptions became so ingrained that when she reached her teenage years Jessica had accepted that being overweight was simply who she was.

“I never thought that I’d be able to lose any weight, let alone over 100 pounds. And I certainly never thought I’d be asked to have my story featured in the newspaper, but here I am,” Jessica told Tribune Woman.

Being overweight in a family prone to heart disease, Jessica could not shake the mental image of her parents having to bury her because she wasn’t strong enough to make healthy choices.

It got to the point where she would often imagine what it would be like to be a “normal” or average size, to shop somewhere other than in the plus size section, and not be mortified by having to ask a flight attendant for a seat belt extension. Her musings were soon influenced by a tragic loss in the family.

“In September 2013, my aunt died very suddenly from a heart attack; no warning whatsoever. She was, or seemed, perfectly healthy. In the few years before that we lost two uncles in the same way. When my family got together for her funeral we said that we needed to do everything in our power to become healthier versions of ourselves. They were not elderly people, but on what seemed like a typical, average day their hearts just stopped. It terrified me,” said Jessica.

This shift in her mindset changed everything. After

Jessica Wallace-Whitfield conquers remarkable weight loss journey

Jessica Wallace-Whitfield proudly shows off her new, healthy body, skin surgery scars and all.