01312017 business

business@tribunemedia.net

TUESDAY, JANUARY 31, 2017

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Second Baha Mar SPV asset transfer

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Baha Mar’s receivers and liquidators have left “no stone unturned” in their hunt for assets, quietly transferring a second tranche to the project’s secured creditor in December 2016.

A January 17, 2017, letter issued to Baha Mar’s few remaining creditors, plus suppliers and vendors, reveals that 17 further companies in the structure set up by original developer, Sarkis Izmirlian, have now been

Liquidators, receivers ‘turning over all stones’ Another $185k switched to Chinese bank’s SPV Further 17 Sarkis companies to be dissolved placed into liquidation.

The letter, written by the three joint liquidators, in-

cluding Bahamian accountant Ed Rahming, discloses that these entities’ assets given a “net book value” of $185,000 - were transferred to the China Export-Import Bank’s special purpose vehicle (SPV), Perfect Luck Holdings, last month.

These assets, largely a mixture of receivables, cash and prepayments, joined Baha Mar’s resort and real estate holdings, which had already been placed in Perfect Luck Holdings’ care on September 23, 2016, as part of the two-phased sales process.

They will now likely be

included in Baha Mar’s sale to its new owner, Hong Kong-based Chow Tai Fook Enterprises (CTFE), which is acquiring the project’s assets from the bank and Perfect Luck Holdings in a deal that has yet to fully close.

Describing the 17 new entities that have come under their control, the liquidators wrote in their letter: “The companies were established for the purposes of trading the Baha Mar resort once construction had been completed and the resort opened.

“As the resort had not See pg b5

Bahamas ‘going NHI launch ‘almost impossible’ backwards’ over without electronic records MAB chief: ‘Key’ to government size patient care quality,

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

The Bahamas is “going backwards” because the $1 billion-plus Value-Added Tax (VAT) revenues are being used incorrectly in expanding the size of government, the Democratic National Alliance’s (DNA) leader charged yesterday.

Branville McCartney told Tribune Business that the country’s present fiscal direction was the “complete opposite” of what was required, with the Bahamian people directly “paying” for the Christie administration’s increased spending.

Criticising efforts by Michael Halkitis, minister of state for finance, to defend his ‘That where the VAT money gone’ speech at the PLP convention, Mr McCartney accused the Government of “misrepresenting” how it had used revenues generated by the 7.5 per cent levy.

Mr Halkitis suggested last week that the tax had financed numerous capital expenditure projects, such as the $232 million and $100 million fleet upgrades for the Royal Bahamas Defence Force and Bahamasair, respectively, and investments in healthcare and education.

However, Mr McCartney said that a true translation of Mr Halkitis’s speech was that VAT had financed “increasing the size of government, increasing our debt and increasing our spending” - something that was

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Bran: VAT use ‘complete opposite’ of what needed Warns: ‘Bahamian people paying for bloated Govt’ Accuses Govt of ‘misrepresenting’ VAT usage’

Branville McCartney effectively admitted by the Minister himself yesterday.

Speaking on the radio program, ‘The Revolution’, Mr Halkitis said in specific reference to the Bahamasair loan from CIBC and Credit Suisse: “I think I was very clear: Loans are being serviced from the VAT money. The loan has to be repaid and it will be repaid through VAT money.”

Tribune Business said as See pg b5

The proper implementation of National Health Insurance’s (NHI) $100 million primary care phase is “almost impossible” without electronic medical records, the Medical Association of the Bahamas (MAB) president warned yesterday.

Dr Sy Pierre, responding to revelations that much of NHI’s information technology (IT) details are “unknown”, said electronic records were vital to tracking patient movement through the scheme and ensuring “continuity and quality of care”.

And he agreed that the absence of such a system created “obvious room for fraud and the gaming of the system” by both unscrupulous patients and service providers, given the inability of those overseeing See pg b4

continuity

Agrees IT system absence is ‘room for fraud’ Concedes enough doctors likely to register

Dr Sy Pierre

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Fiscal deficit expands 75%

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Government’s fiscal deficit for the first four months of 2016-2017 increased by 75.3 per cent to $157.5 million, blowing past the full-year target of $100 million with two-thirds of the Budget period still to go.

The Central Bank’s report on December’s monthly economic developments, released last night, disclosed that the fiscal deficit was up $67.7 million yearover-year due to a combination of reduced revenues and spending increases.

It added that Value-Added Tax (VAT) revenues for the four months to endOctober 2016 were off 6.7 per cent, or $15.4 million, at $214.1 million due to tough prior year comparatives, which had been boosted by “ significant early payments”.

“Data on the Government’s budgetary op-

Jumps $67.7m to $157.5m for four months to October ‘Red ink’ already exceeds full-year target by over $50m VAT revenues down 6.7% to $214.1m erations for the first four months of fiscal year 20162017, showed an increase in the deficit by $67.7 million (75.3 per cent) to $157.5 million, relative to the same period last year,” the Central Bank said.

“This outcome reflected a $38.4 million (6.4 per cent) contraction in revenue, and a $29.3 million (4.3 per cent) increase in spending.”

Part of the widened deficit will have resulted from Hurricane Matthew’s See pg b4

Baha Mar construction finish to require $400m

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Baha Mar’s construction completion will cost some $400 million, the Central Bank said last night, with around 95 per cent of the project’s full-time employees to be Bahamian.

The regulator, in its December economic developments update, said a total $700 million investment is required to complete and open Baha Mar, inclusive of construction costs.

It said the project’s prospective new owner, Chow Tai Fook Enterprises (CTFE), planned to invest $200 million in redevelop-

Pre-open costs total $700m; 95% of staff locals Total bank loan arrears decline $209m in 2016 But only growth area is $78.6m consumer credit rise ing the 15-acre site of the former Crystal Palace casino and Wyndham resort properties.

See pg 5

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 3

Customs: Enforcement $3bn added to national debt drives revenue target hit without VAT

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Customs Comptroller yesterday said his department had met its increased Budget revenue targets largely due to enforcement, adding that it will now place heavy emphasis on post-clearance audits.

Charles Turner told Tribune Business: “We have improved our risk analysis, and we have identified those high-risk importers.

We are placing an emphasis on those high-risk import-

Focusing on postclearance audits As high-risk importers identified Training 114 recruits ers.

“We are allowing those legitimate traders to flow freely though the border.

We have seen some success.

We have seen an increase in revenue and we are of

the view that the increase in revenue is due to the enforcement efforts.”

While unable to state specifically how much additional revenue Customs has collected as a result of its enforcement efforts Mr Turner told this newspaper: “I have been told that we have met the target from the Ministry of Finance with respect to the Budget.”

He added that the department will further enhance its revenue efforts through the 114 new Customs recruits currently being trained.

“We will be assisted greatly by the new recruits that are still in training and, as a result, we will be able to place more emphasis on areas like harbour patrol, the K-9 unit, manifest control and post clearance audit,” Mr Turner said.

“We are going to put a lot of emphasis now on the post-clearance audit of goods because at the time goods arrive we are not able to make proper assessments as to the valuations. Going forward, emphasis will be on the post-clearance audit.”

Govt praises $13m Customs upgrade

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Government and Customs officials yesterday hailed as a “significant milestone” the signing of a $13 million contract to create the department’s Electronic Single Window (ESW), an initiative that is expected to further reduce the clearance time for imported goods.

An Inter-American Development Bank (IDB) report for the $16.5 million Trade Sector Support Programme, of which the ESW is part, had estimated the Government was losing $66 million annually due to inefficiencies at Bahamas Customs alone.

The bank had warned that Bahamas Customs’ woes also threatened this

nation’s World Trade Organisation (WTO) accession and implementation of the Economic Partnership Agreement (EPA) signed with the European Union (EU).

The Trade Sector Programme launched in 2013 consisted of three components: the strengthening of Customs management and capacity; the electronic single window (ESW) and the enhancement of an international trade institutional platform.

“We have arrived at a significant milestone in the programme’s action phase,” said Michael Halkitis, minister of state for finance.

“The procurement of the electronic single window commenced in 2016 using the Best of Breed approach.

There were 17 expressions of interest and seven were

Claim accuses Wells Fargo of denying loans to young migrants SAN FRANCISCO (AP) — A federal lawsuit filed Monday accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Barack Obama.

Wells Fargo said it was disappointed the plaintiffs sued instead of working with the bank on a solution.

The young immigrants have Social Security numbers and documents that meet bank requirements for identification, but Wells Fargo refuses to give them student loans based on their citizenship status, according to the lawsuit by the Los Angeles-based Mexican American Legal Defense and Educational Fund.

“It’s very important in our view to establish that there are clear rules against this kind of discrimination, particularly in a time like this,” said Thomas A. Saenz, president and general counsel of the Mexican American Legal Defense and Educational Fund.

The suit seeks a court order declaring the policy discriminatory and forcing

Wells Fargo to grant the loans to those participating in the Deferred Action for Childhood Arrivals program. It also seeks unspecified monetary damages.

“Wells Fargo understands the dream of pursuing higher education and we remain

shortlisted. Three of the shortlisted firms submitted proposals and a contract awardee has been identified. After a very completive tendering process, the consultancy firm Crimsonlogic Panama Inc has been selected to carry out the activity,” Mr Halkitis added: “The contract’s valued at approximately $13 million, with a duration of 111 months.

This includes a 15-month project implementation, 12-month warranty and 54 months of support and maintenance.”

He said the ESW will bring about a further reduction in clearance time for imported goods and declarations; a reduction of the administrative cost of collecting revenue; facilitation of one-time submission of documents and online pay-

ments; facilitate an information exchange with port community systems; data harmonisation; a risk management approach to border management; and international as well as regional systems interoperability.

Customs Comptroller, Charles Turner, told Tribune Business: “What is happening now is all importers are submitting documents electronically as commercial and non-commercial.

“By that happening it has allowed us to do risk analysis, a proper analysis, of cargo, and by analysing the cargo we can determine where we are going to put our emphasis. That emphasis is going to be on highrisk cargo. It is not possible for us to examine all cargo, and so we have to use staff wisely and examine the cargo as necessary.”

focused on our responsible lending practices to assist temporary and permanent residents and U.S. citizens in obtaining student financing,” the bank said in a statement.

Banking experts say financial institutions can face unique challenges getting repaid by borrowers who are not in the country permanently, including potential difficulty in accepting payments from foreign banks.

Paul Hartwick, a spokesman for Chase Bank, said it does not offer student loans.

An email to representatives for Bank of America was not immediately returned.

The lawsuit comes amid concern among immigrant groups that President Donald Trump will cancel the DACA program as part of a broader effort to control immigration.

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A Cabinet minister yesterday said $3 billion co uld have “easily” been added to the Bahamian national debt had the Christie administration no t introduced Value-Added Tax (VAT).

Speaking as a guest on the talk sho w, the ‘ Revolution’, Michael Halkitis, ministero f state for finance, said: “We did the reform and it has paid o ff. I had a study done. What wo uld we have added to the debt if we had no t done the reform? It co uld have easily been $3 billion.

“We have added ano ther $1 billion. We have done the reform, we are in a bad position, it’s impro ving and we are getting better.”

VAT was intro duced in January 2015 at a rate o f 7.5 per cent, with nearly $1 billion in VAT revenue having

been collected to-date.

Mr Halkitis added that the Go vernment had borro wed “just o ver $100 million” to defray the costs associated with its postHurricane Matthew restoration efforts.

He said the Go vernment had received Parliamentary appro val via a resolution to raise $120 million from Bahamas-based commercial banks, with a second tranche o f up to $30 million o ffered to private investors.

“We go t appro val for $150 million. I think we went and borro wed just o ver $100 for Hurricane Matthew. No t all the banks participated in the bond so it was just o ver $100 million,” said Mr Halkitis.

He added: “There is a gap in the time to get that arranged and get all that financing organised. That takes some time, and yo u are beginning to spend.

Yo u can’t stand still waiting for the lo an.”

Michael Halkitis, Minister of State in the Ministry of Finance.

Commonwealth of The Bahamas REQUEST FOR EXPRESSIONS OF INTEREST Request For Expressions of Interest, TC No. ATN/ME-14853-BH The Government of The Bahamas has received financing from the Inter-American Development Bank (IDB), and intends to apply parts of the proceeds to payments under the project name, for the services of an integrated approach for economic empowerment for the sustainability of fly fishing. It will comprise of three components, namely: Market Assessment The Firm will be requested to: * Communicate with clients to understand and document the project objectives * Conduct in depth data survey on The Bahamian flats fishing sector inclusive of guides, lodges and other accommodations, as well as all categories of anglers, their distribution throughout the individual islands and satisfaction ratings. * Compile a demographic profile of visiting anglers who fish The islands of The Bahamas. * Provide analysis with regard to source markets. Travel trends, consumer preferences, expenditures, business models and competing destinations. * Author report containing interpretation of statistical data and recommendations for implementation. * Evaluate program methodology and key data to ensure accuracy and best practices.

Mitzie Perez, a plaintiff in a lawsuit against Wells Fargo, poses for a photo in Los Angeles, yesterday. Perez applied for a student loan from Wells Fargo online to help cover the costs of her education at the University of California, Riverside. She had a Social Security number, license and passport, but was not able to proceed with the loan application after she disclosed she was not a U.S. citizen or permanent resident. The suit comes amid concern among immigrant groups that President Donald Trump will cancel Obama’s Deferred Action for Childhood Arrivals program as part of a broader effort to control immigration. (AP Photo)

Commonwealth of The Bahamas Support For The Economic Empowerment of Fly Fishing Guides Request For Expressions of Interest, TC No. ATN/ME-14853-BH The Government of The Bahamas had received financing from the Inter-American Development Bank (IDB), and intended to apply part of the proceeds to payments under the project name, for the services of three (3) consultancies to conduct various activities in the Fly Fishing Sector.

The Bahamas Ministry of Tourism had invited eligible consultants to indicate their interest in providing various services in the Fly Fishing Sector. We would like to take this time to extend our apologies to individuals that took the time to submit proposals. The invitation to support the project has been withdrawn as a result of the new Fisheries Act and Regulations. This has altered the original thrust of the project and the need to re-advertise it as an integrated approach.

We are now advising that consultancies are open to firms; including public and private educational institutions and agencies.

Sustainable Fly Fishing Business Models The Firm will be requested to: * * * *

Communicate with clients to understand and document the project objectives.

Review market research.

Assess existing guides and lodge operations.

Collaborate with Researcher, Trainer, Project Coordinator and Technical Advisory Committee to determine an appropriate business model to service the needs of visiting anglers. * Design and implement sustainable business models for ten (10) guiding services and lodge operations to transition them into viable business enterprises.

Sustainable Fly Fishing Curriculum Design and Training The Firm will be requested to: * * * * * *

Communicate with clients to understand and document the project objectives.

Review market research with focus on recommendations for guides and lodge training.

Revise existing material, and incorporate best sustainable practices.

Conduct Fly Fishing Training Workshop for one hundred (100) guides and new recruits.

Conduct a Green Management Workshop for Lodge Operators and Managers.

Develop framework for an apprenticeship program and certification of professional guides. * Design a training curriculum for fly fishing guides based on the latest best practices, methodologies, etc.

The Bahamas Ministry of Tourism now invites eligible institutions to indicate their interest in providing the services above. Reputable institutions must provide a detailed resume to establish their qualifications to perform the services required. The Firm that is recognized by the government of The Bahamas will be favourably considered based on the ability to execute all three components as an integrated approach.

Institutions will be selected in accordance with the procedures set out in the InterAmerican Development Bank: Policies for the selection and contracting for The Firm financed by the Inter-American Development Bank (GN-2350-7) and is open to all eligible institutions as defined in the policies.

Expressions of integrated proposals must be delivered via direct email by

February 25, 2017

Attention: Ms. Jacqueline Ramsey, jramsey@bahamas.com or Ms. Sharmain Deveaux, sdeveaux@bahamas.com Tel: (242-302-2000)

PAGE 4, Tuesday, January 31, 2017

Fiscal deficit expands 75% From pg B1 impact in early October.

With the Bahamian economy ‘shut down’ for several days following the Category Four storm, and economic activity subdued (apart from rebuilding), the Government will have lost substantial revenues flows.

However, with the extra spending sparked by Matthew unlikely to be shown in the October figures, the concern is that the hurricane’s full impact on the Government’s finances and the extent to which they have been blown off course - has yet to emerge.

And the $157.5 million worth of ‘red ink’ incurred during just one-third of the Government’s Budget year already exceeds the fullyear forecast of $100 mil-

lion by more than 50 per cent, a development that may catch the eye of international credit rating agencies.

The Central Bank acknowledged that the Bahamas’ sovereign credit rating had “fallen markedly” since the ‘A-’ and ‘A3’ ratings it enjoyed from Standard & Poor’s (S&P) and Moody’s prior to the 2008 financial crisis, the former having dropped this nation to socalled ‘junk’ investment status within the space of eight years.

However, the Central Bank consoled itself by saying the Bahamas’ sovereign creditworthiness remained “among the highest in the Caribbean region” when compared to the likes of Jamaica, Belize and Barba-

NHI launch ‘almost impossible’ without electronic records From pg B1 NHI to monitor what was going on.

Notes from the January meeting of the Universal Health Coverage (UHC) Stakeholder Advisory Council reveal that virtually everything relating to NHI’s IT system still remains “unknown”.

While the bid process for the “core” NHI system has yet to launch, as the tender document is still being reviewed by the Attorney General’s Office, there was also no information provid-

ed on the “temporary IT solution” previously promised by the Government.

Dr Kevin Bowe, the NHI deputy project director, told Tribune Business yesterday that the NHI Secretariat would respond to this and other concerns. However, no reply was received before press time last night.

Dr Pierre yesterday emphasised that the absence of system-wide electronic medical records was a glaring deficiency in the NHI structure, especially since the Government’s recently-

dos.

Yet it acknowledged that the Government’s fiscal consolidation plan had been swept away in the short-term by the damage inflicted upon public infrastructure and government buildings by Matthew, together with the impact on poor and uninsured Bahamians.

“The impact of posthurricane outlays will slow the near-term rate of fiscal consolidation,” the Central Bank said. “The potential for improvement in Government’s budget operations will depend heavily on the success of measures to enhance revenue administration and restrain growth in spending.”

Breaking down the Government’s revenue and spending performance for the first four months of 2016-2017, the Central Bank said: “The fall-off in revenue was led by a $30.1 million (5.7 per cent)

decline in tax receipts to $501.2 million, reflecting broad-based reductions in several revenue categories.

“Specifically, VAT collections fell by $15.4 million (6.7 per cent) to $214.1 million, as revenues stabilised after a period of significant early payments in the prior fiscal year.”

Elsewhere, international trade taxes declined by $9.5 million or 5.6 per cent yearover-year to $162.5 million, as Excise and import duties dropped by $6.7 million and $4.3 million, respectively.

Export taxes rose by $1.4 million.

“A timing-related fall-off in gaming taxes resulted in selective taxes on services contracting by $7 million to $3.2 million,” the Central Bank added.

“Similarly, ‘other’ miscellaneous taxes narrowed by $4.2 million (3.6 per cent) to $110.9 million, as a reduction in other ‘unclassified’ taxes by $8.5 million

(41.6 per cent) eclipsed the increases in departure and ‘other’ financial Stamp taxes by $1.8 million and $8.7 million, respectively.

“In a slight offset, business and professional fees advanced by $2.8 million (35.8 per cent) to $10.6 million. Non-tax revenue decreased by $8.3 million (12.3 per cent), owing mainly to a fall in income from ‘other sources’ by $9 million (36.3 per cent), overshadowing gains in fines, forfeits and administrative fees by $1.1 million (2.6 per cent) to $41.7 million.”

Recurrent spending on the Government’s fixed costs, meanwhile, rose by 1 per cent or 6.2 per cent to $638.3 million for the four months to end-October 2016.

This was attributed to a $19.6 million, or 6.2 per cent, increase in transfer payments to $333.8 million, driven mainly by an $18.9 million or 79.3 per cent in-

crease in funds sent to public corporations.

The Central Bank said this was “largely for the maintenance of parks and beaches”, while subsidies dropped $10 million or 8.2 per cent to $111.7 million despite a $10.9 million rise in outlays to National Health Insurance (NHI).

The offset was “a sharp rise in tourism subsidies”.

“Capital outlays rose by $24 million (43.2 per cent) to $79.5 million, as increased spending on road development, along with outlays for costal protection, resulted in capital formation firming by $19.9 million (45.9 per cent) to $63.3 million,” the Central Bank said.

“In addition, the continued investments in ships for the Defence Force contributed to growth in asset acquisitions by $4.1 million (33.6 per cent) to $16.2 million.”

touted $18 million health information management system (IHIMS) will also not be ready for the May launch.

“In terms of continuity of care, electronic medical records are absolutely key,” the MAB president told Tribune Business. “You can’t have continuity of care, especially primary care, without it. It’s almost impossible to do without it.

“It’s far from ideal.

There’s obvious room for fraud and lack of continuity of care. Gaming the system in that way [fraud] is definitely possible, and difficult to track.”

Dr Pierre said it was currently difficult to find paper records in the public healthcare system just days after a patient had been treated.

He added that a fullyfunctioning electronic medical records system was especially important in monitoring the quality, and continuity, or care for Family Island patients who had to visit Nassau for treatment.

The MAB president said physicians in their home islands, as well as in Nassau, needed real time access to information so they could know what treatments/care their patients had received from other doctors.

“We asked them about the IT system before Christmas, when they invited the primary care people to come and comment, and they would give them a date for physician and provider registration,” Dr Pierre recalled.

“We asked them then if registration was going to be electronic or if providers were going to have to sign up. They weren’t even sure of the software for signing up for physician registration. We haven’t even got to the point where the software is ready for physician

registration yet.”

The UHC Stakeholder Advisory Council meeting notes seen by Tribune Business stated bluntly that no details had been provided by the NHI Secretariat and its advisers on the previously-suggested ‘interim IT solution’.

There was “no confirmation on execution of contract with vendor” for such a system, while the “implementation timeline and work plan” was yet another “unknown”.

Dr Pierre, meanwhile, conceded that the Government was likely to entice enough physicians to signup as NHI primary care providers when registration begins today - just as the UHC Stakeholder Advisory Council meeting notes had predicted.

The NHI Secretariat is holding a press conference today to unveil the registration launch, with Dr Pierre suggesting that the “economics” of each private doctor’s practice will dictate whether they sign up.

“If a physician is com-

fortable and doing well, and he has, let’s say 60 per cent or more private insurance, his incentive to provide care will not be very high,” the MAB chief told Tribune Business.

“But there are some out there who are not doing very well. They’re probably going to get enough physicians. I think they’re going to get enough to register and say they have enough doctors to provide for these patients.”

Dr Pierre, though, said the real issue under NHI was whether Bahamians would receive an improved quality of care, and not have to endure waiting times and queues, as a result of doctors having to treat larger patient populations.

“The question is what type of care are these patients going to get,” he told Tribune Business. “That’s going to be they key.

“Is it going to be a system impacted by fraud, and will patients get care? Hopefully, the system will not be worse than it is now, with long lines and people enduring waiting times. Is it going to lead to more taxation, reduced private insurance and shrink the private economy? I don’t know. It’s an unknown.”

Pointing to the Government’s poor track record in owning/managing businesses, Dr Pierre pointed to healthcare industry trepidation over its impending takeover of the sector.

“Government’s history is not one of efficiency,” he said. “Look at all our government institutions now; they’re neither efficient nor effective, and they’re talking about running an entire healthcare system.

“We on the ground know the problems and what these guys need to tackle, but they seem determined to push ahead with this thing. There are so many things that need to be tackled prior to this starting.”

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

HARPIA INVESTMENTS LTD. (the “Company”)

YOUR

THE TRIBUNE

CHOICE FOR THE FAMILY @JOYFMBAHAMAS WWW.FACEBOOK.COM/JOYFM1019

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of HARPIA INVESTMENTS LTD. (IBC 160576 B) 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.

Ezio Cardoso Da Fonseca Junior Liquidator

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 5

Bahamas ‘going backwards’ over government size From pg B1 much last week in interpreting the Minister’s convention remarks, but Mr McCartney yesterday argued that both Mr Halkitis and his colleagues had yet to address other spending increases.

He pointed specifically to the net 4,500 person increase in the size of the public service since the Christie administration took office in May 2012, a development that was previously revealed by this newspaper.

“We need to rein in spending,” Mr McCartney told Tribune Business yesterday. “They have increased the size of gov-

ernment by 4,500 persons when, in fact, we ought to be reducing the size of government, and instead increasing the number of small and medium-sized enterprises (SMEs) and new industries.

“This government is going in reverse. It’s going backwards by increasing government. They are now saying they have generated more employment, when we have lots of persons in the public sector sitting there all day, watching the clock at the Bahamian people’s expense.

“We should be taking those persons, empowering them, facilitating them to get into new businesses and jobs and becoming produc-

Second Baha Mar SPV asset transfer From pg B1 opened, the companies had not commenced trading, and therefore they held limited assets. The assets across the companies comprised of an investment in a dormant American entity, small cash balances, prepayments, receivables from the [companies controlled by the bank’s Deloitte & Touche receivers], and an interest in a vehicle which would be used to provide services to guests of the resort.

“Excluding the balances due from the receiver-controlled companies (which are irrecoverable due to the official liquidation), and the dormant entity (which is heavily insolvent), these assets total approximately $185,000 at net book value across the companies.”

Seemingly anxious to ensure that nothing of value

was missed, the Deloitte & Touche receivers, acting as the China Export-Import Bank’s agents, sought approval from the Supreme Court in December 2016 to transfer a further batch of Baha Mar assets to the Perfect Luck SPV. “At that stage, they also requested approval for a related entity to purchase the prepayments, receivables and vehicle of the [17 companies],” wrote Mr Rahming and his UK-based colleagues.

“These requests were approved by the court, pending the appointment of the liquidators over the companies.”

The second asset transfer to Perfect Luck Holdings was completed on December 13, 2016, further paving the way for the China Export-Import Bank to consummate the sale to CTFE. Pointing out that the 17

Baha Mar construction finish to require $400m From pg B1 And, as confirmed by Graeme Davis, CTFE (Bahamas) president, the Hong Kong-based conglomerate will inject a further $100 million to fund Baha Mar pre-opening, recruitment and temporary support costs.

The Central Bank said $3.5 billion had been invested in Baha Mar to-date which, when added to the $700 million estimate, affirms Tribune Business projections from 2015 that the project was set to cost at least $4 billion to open.

The $3.5 billion figure also likely includes the $800-$900 million in equity that was invested by original developer, Sarkis Izmirlian, and his family an investment that has now effectively been wiped out following Baha Mar’s receivership/liquidation and now sale.

The Central Bank, meanwhile, said around 95 per cent of employees will be Bahamian once Baha Mar reaches its “full complement” of 5,500 to 7,000 jobs.

It also forecast that the project’s opening would generate a 19 per cent boost in stopover visitor arrivals to the Bahamas in 2017, generating “approximately 315,000 additional air passenger guests”.

However, the Central Bank projections are likely better suited to 2018, given CTFE’s plans to gradually open and ramp up Baha Mar operations throughout the course of 2017. The SLS and Rosewood properties are not due to open until December 2017.

Still, Baha Mar is key to the Central Bank’s prediction that a “modestly stronger economic performance is expected in 2017”.

“Expectations are that the domestic economy will perform at a healthier pace in 2017, reflecting the impact of the phased opening of the Baha Mar resort, other hotel sector capacity growth and varied-scale ongoing foreign investment projects, while rebuilding efforts after Hurricane Matthew will continue to provide a strong stimulus to the construction sector,” the Central Bank said.

“As a consequence, em-

ployment conditions should improve further. Inflation is anticipated to remain relatively low during the year; however, the recent uptrend in global oil prices may sustain the on-going rise in domestic energy costs.”

Elsewhere, total Bahamian commercial banking loan arrears fell by $209 million or 17.1 per cent in 2016, aided heavily by one bank’s sale of a large chunk of its non-performing loan portfolio.

“A breakdown by average age of delinquencies showed that non-performing loans contracted by $177.5 million (19.6 per cent), with the attendant ratio decreasing by 2.8 percentage points to 12.3 per cent,” the Central Bank said.

“Similarly, short-term arrears declined by $31.5 million (10.1 per cent), resulting in the ratio falling by 46 basis points to 4.8 per cent.”

Mortgage loan arrears declined by $176.2 million, with the non-performing and short-term arrears segments declining by $150.6 million and $25.5 million, respectively.

However, this appears not to have inspired Bahamas-based commercial banks to increase their lending, as excess (surplus) liquid assets ended 2016 at $1.447 billion, having risen by $132.67 million during last year.

And other Central Bank data pointed to the increasing trend of banks focusing on consumer loans, diverting credit away from the economy’s productive sectors, namely the housing market (mortgages) and business loans.

Total private sector credit, which accounts for 69.1 per cent of all outstanding loans, fell by $92.4 million in 2016 - a rate that increased compared to the

tive assets, instead of being part of a bloated government and forcing the Bahamian people to pay for it.

That cannot be the answer.”

Mr McCartney argued that developed countries were all moving to streamline and reduce the size of government, “but our mindset is that of a third world country and we continue to go in reverse”.

Suggesting that the Government was “doing the complete opposite” of what was required for the Bahamas to escape its ‘low growth/high deficit and debt’ trap, the DNA leader charged: “They ought to be reducing the size of government, getting it out of business in this country and facilitating and empowering new businesses, not increasing it where, at the end of the day, the Bahamian people end up having to pay for it.”

Expanding the size of government, and the increased spending, borrowing and debt associated with this, was “exactly what VAT was doing over the last two years”.

The Christie administration has reduced the annual fiscal deficit from the $500 million-plus level hit at the start of its tenure to around $300 million for 2015-2016.

And, while the national debt’s growth rate has slowed in the two years since VAT was introduced, the Government continues to incur annual ‘red ink’ that frequently exceeds its Budget projections by several hundred millions of dollars.

Mr McCartney argued that Mr Halkitis yesterday “couldn’t really give a direct answer as to where our VAT money is going”, the Minister repeating the line that it goes into the Con-

solidated Fund, where it is pooled with other taxes and used to defray the Government’s expenses - including debt interest and principal payments, as well as narrowing the deficit.

The DNA leader, though, repeated the mantra invoked by many Bahamians, which is that VAT was billed as necessary to eliminate the fiscal deficit and pay down the $6.778 billion national debt - not finance increased spending.

“What we now find is that although we’ve collected $1 billion through VAT, the money has gone to finance increased debt and borrowing,” Mr McCartney told Tribune Business.

“It has not gone to what it was designed for; it’s the reverse of what it was designed for. The PLP government has again misrepresented to the Bahamian people what they were go-

ing to do with our money. It has gone in the opposite direction, and the Bahamian people are paying for more debt.

“It’s the poor people who are ultimately paying for it, and they are the ones who are suffering, paying for increased spending and increased debt. We should have reduced debt, decreasing borrowing, and the size of government should be decreasing, not increasing.”

Mr McCartney accused Mr Halkitis of seeking to hide behind the constitution, and not being accountable and transparent for how the Government had used its VAT revenues.

He said the Minister had invoked section 128 of the constitution while on the radio yesterday, and added that the Government was seeking to “bamboozle” Bahamians on how their taxes were being used.

companies were all insolvent, the liquidators wrote: “The only remaining asset of the companies to realise is cash at bank, and the liquidators are currently in the process of gaining control of the funds.

“It is uncertain whether there will be any funds in each of the companies available for distribution to the unsecured creditors of each respective company.”

Mr Rahming confirmed to Tribune Business that all 17 entities are now being placed into liquidation and formally wound-up, with the liquidators estimating that the process will likely take four weeks.

“We’re going through the statutory steps, making sure all the corporate entities that fell under the previous structure are dissolved, and every single asset, every single liability, is accounted for, with the creditors aware of everything,” he explained.

“You can call it tidying up work. We’re turning over all the stones, making sure we

cover all the entities. We’re going through the entire corporate structure straight up, going through the companies we have control of and putting them into liquidation, first voluntary, then official.”

Raymond Winder, Deloitte & Touche (Bahamas) managing partner, and one of the project’s three receivers, told Tribune Business that “nothing of significance” was included in the second asset transfer.

“Most of it was intangible assets, sales, receivables,” he said. “The big stuff; the real estate was moved in the first tranche. This was the small stuff; whatever hadn’t been transferred in the first

tranche.”

Mr Rahming and his Alix Partners colleagues, Nicholas Cropper and Alastair Beveridge, had already been upgraded from provisional to full liquidators of the seven former Baha Mar companies taken over by the receivers in late 2015. For dissolving the 17 companies, the two UK accountants are charging $1,015 per hour.

Of the new 17 entities placed into their care, just two - Baha Mar Operating Company Ltd and Baha Mar Entertainment Ltd were among the seven already inherited from the receivers after they had outlived their usefulness in

facilitating the first asset switch to Perfect Luck.

The new 15 are: Baha Mar Operating Company Ltd, Baha Mar EA Services Company Ltd, Blue Egret Ltd, Blue Flamingo Ltd, Blue Ibis Ltd, Blue Kingfisher Ltd, Blue Pelican Ltd, Baha Mar SPA Services Company Ltd, Baha Mar Leasing Company Ltd, Baha Mar Support Services Ltd, Baha Mar CHC Ltd, Baha Mar Convention Hotel Company Ltd, Baha Mar Lifestyle Hotel Company Ltd, Baha Mar Luxury Hotel Company Ltd, Baha Mar Sales Company Ltd, Baha Mar Convention Center Company Ltd, Baha Mar Entertainment Ltd.

prior year’s $24.1 million fall.

While consumer lending to individual Bahamians and households increased by $78.6 million in 2016, mortgage and commercial credit dropped by $111.9 million and $59.1 million, respectively.

Meanwhile, the Bahamas’ foreign currency reserves expanded by $93.6 million during 2016 to close the year at $902.1 million, up from the $22.2 million expansion in 2015.

However, while the 2016 year-end figure was equivalent to 3.9 months’ worth of imports, above the international benchmark of three months, the Central Bank acknowledged that this had been boasted by the Government’s external borrowings.

“Indications are that tourism activity improved modestly during December, benefiting from several sporting events and the winter holiday season,” the Central Bank added.

“Specifically, data from the Nassau Airport Development company (NAD) revealed that passenger traffic through the country’s main airport - net of domestic departures - grew by 4.1 per cent in December year-onyear, a reversal from a 0.9 per cent reduction in the previous month.

“A breakdown by category, showed that the dominant US component firmed by 5.7 per cent, outpacing the 0.6 per cent growth in November. In contrast, departures to non-US countries softened by 4.2 per cent, following an 8.8 per cent contraction in the prior period.

“Similar trends were noted over the entire year, as total departures firmed by 1 per cent when compared to 2015, due mainly to the high volume US segment firming by 1.9 per cent. However, non- US departures declined by 4.1 per cent.”

Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

A leading vacation ownership resort is seeking an applicant for the position of: AssistAnt Director of Housekeeping The incumbent will be responsible for the daily management of the resort’s housekeeping department, while giving focus to the management of the Tower Managers. Provides leadership, standards enforcement, and results for Housekeeping team. responsibilities include: • Conducting daily staff briefings.

• Conduct reviews on the quality of room inspections done by Tower Managers.

• Inspect and evaluate guest rooms and deficiencies and ensure rooms are

cleaned to the required standards.

• Supervise, conduct performance appraisals, coach, discipline, hire, terminate, reward, recognize, celebrate and direct all of the activities of the Housekeeping staff while building a strong team.

• Train staff while ensuring that they are in compliance with company policy and procedures.

• Complete weekly payroll • Prepares and monitors weekly work schedule, based on projected occupancy. Plans, organizes, coordinates and assigns work load.

• Focus on the accomplishment of divisional goals. required Qualifications: • College degree preferred but not essential • Minimum job experience of five years in a Housekeeping or Public Areas position.

• Computer literacy in MS Word, Excel, Outlook and PowerPoint • Demonstrated knowledge of housekeeping operations in a high volume environment.

• Proven knowledge of financial and operational management.

• Strong communication skills. interested person can apply to the position on: Atlantislocalbahamas.com Deadline for submissions is february 3, 2017

PAGE 6, Tuesday, January 31, 2017

VW likely to win global sales crown as Toyota growth slows TOKYO (AP) — Volkswagen can in all likelihood claim the title of world’s biggest automaker for the first time.Toyota reported Monday that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen’s 10.31 million.

The only contender left is General Motors Co., which is unlikely to come near VW’s number because sales fell last year in the U.S., its second-biggest market. The company will release results next week, but spokesman Jim Cain said he doesn’t think GM will hit 10.3 million.

For VW, it’s a milestone achievement despite the taint to its reputation from a huge scandal over cheating on emissions tests.

Booming China sales, where VW sells few diesels, helped offset that damage.

Japanese automaker Toyota Motor Corp. has held the global auto crown for the past four years, although it fell behind GM in 2011, when production was hit by an earthquake and tsunami in northeastern Japan.

Detroit-based GM was the top-selling automaker for more than seven decades until Toyota, which

makes the Camry sedan, Prius hybrid and Lexus luxury models, surpassed it in 2008.

Toyota’s global sales last year were slightly better than in 2015, up 0.2 percent, but not good enough to beat Volkswagen, which has the Audi, Porsche and Skoda brands, and boosted its global sales 3.8 percent from the year before. GM, which makes the Chevrolet, Cadillac and Opel brands, sold 9.8 million vehicles globally in 2015. To reach 10.3 million, sales would have to rise 5 percent, a difficult task since U.S. sales dropped 1.3 percent due mainly to a deliberate cut in deliveries to rental car companies.

In 2015, Toyota sold 10.15 million vehicles while Volkswagen was second with 9.93 million. GM was third.

Toyota officials have repeatedly said they are not concerned with being No. 1 and just want to make good cars. Volkswagen was keen to dethrone Toyota but disavowed that goal after CEO Martin Winterkorn lost his job over the emissions scandal.

Shares in Asia fall on uncertainty over US immigration flap N O T I C E EXXONMOBIL IRAQI KURDISTAN VENTURES (CLASS E) LIMITED

________________________________________________ N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL IRAQI KURDISTAN VENTURES (CLASS E) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 27th day of January 2017 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is T.A. Parmenter, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 31st day of January, 2017.

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

THE TRIBUNE

A visitor checks out Toyota Vitz at a Toyota showroom in Tokyo, yesterday.

Toyota has relinquished the title of the world’s biggest automaker, reporting Monday that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen’s 10.31 million. (AP Photo)

US consumer spending up 0.5 percent in December WASHINGTON (AP) — Consumers boosted spending in December at the fastest pace in three months, giving the economy some momentum going into 2017.

Consumer spending advanced 0.5 percent in December, a major improvement over the modest 0.2 percent gain in November, the Commerce Department reported Monday. It was the best showing since spending jumped 0.7 percent in September. The increase was driven by a 1.4 percent surge in spending on durable goods, long-last-

ing items such as autos.

Incomes also showed some improvement, rising by 0.3 percent in December, spurred by a rebound in growth in wages and salaries.

Consumer spending is closely watched since it accounts for 70 percent of economic activity. Overall growth had slowed to a weaker-than-expected 1.9 percent gain in the OctoberDecember quarter because of a slump in exports. But economists are looking for a rebound in the current quarter.

A key measure of inflation closely watched by the Federal Reserve edged up 0.2 percent in December and over the past 12 months has risen 1.6 percent. That is the largest 12-month gain in more than two years. But it is still below the Fed’s target of 2 percent annual increases in inflation.

The central bank last month boosted its key interest rate by a quarter-point to a still-low range of 0.5 percent to 0.75 percent but projected that it could raise rates by three times this year as inflation rises fur-

ther.

The 0.3 percent rise in incomes reflected a 0.4 percent gain in the key category of wages and salaries.

Wages and salaries had actually fallen 0.1 percent in November.

With spending outpacing income growth in December, the saving rate dropped to 5.4 percent of after-tax incomes, down from 5.6 percent in November. It was the lowest saving rate since March 2015.

Economists believe that consumer spending will show solid gains in 2017, reflecting strong labor markets with unemployment down to near a nine-year low of 4.7 percent in December.

TOKYO (AP) — Most financial markets were closed in Asia on Monday for lunar new year holidays, but shares fell in Japan and Australia on uncertainty over the potential impact of President Donald Trump’s travel ban on seven Muslim-majority

countries and other immigration actions.

KEEPING SCORE: Japan’s Nikkei 225 index fell 0.7 percent to 19,322.78.

The S&P ASX 200 in Australia dropped 1.0 percent to 5,656.90. Shares fell in Thailand and were flat in Indone-

sia. Markets across most of Asia were closed.

TRUMP TRAVEL BAN: The executive order signed

by Trump on Friday placed a 90-day ban on travel to the U.S. by citizens of Iraq, Syria, Iran, Sudan, Libya, Somalia or Yemen. It imposed a 120-day suspension of the U.S. refugee program and blocked Syrians from entry indefinitely. The move triggered protests and confusion at U.S. airports and raised uncertainty for airlines and high-tech industries that employ many foreign-born workers, analysts said.

ANALYST VIEWPOINT: “World leaders were quick to condemn President Trump’s executive order to ban U.S. travel from seven Muslim countries. The global reaction has been one of universal condemnation,” Stephen Innes, a senior trader at OANDA, wrote in a commentary. “The increase in civil unrest alone should be a concern for investors, and with a lack of clarity on the economic policy front, markets will be cantankerous early in the week as they’re completely uncertain of what’s next from President Trump on the geopolitical landscape.”

JAPAN DATA: Monthly data for December released Monday showed retail sales fell 1.7 percent from a month earlier. Core inflation excluding volatile food items fell 0.2 percent, showing deflation still is weighing on the economy, discouraging the wage increases needed to spur more consumption and investment, and raising doubts over how much momentum the economy may have gathered late in the year, just as the Bank of Japan holds its first policy meeting of 2017.

WALL STREET: Wall Street capped a week of milestones Friday with a day of listless trading that left U.S. stock indexes mostly lower. The Dow was nearly flat at 20,093.78. The Standard & Poor’s 500 index edged 0.1 percent lower to 2,294.69 and the Nasdaq composite eked out a 0.1 percent gain to 5,660.78, setting another all-time high. The market drifted between small gains and losses through much of the day as investors weighed company earnings and new data on the U.S. economy showing annual growth of just 1.9 percent in the last three months of 2016, a slowdown from 3.5 percent in the previous quarter.

NOTICE EXXONMOBIL IRAQI KURDISTAN VENTURES (CLASS E) LIMITED ____________________________________________

Creditors having debts or claims against the abovenamed Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 24th day of February, A.D., 2017. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

Dated the 31st day of January, A.D., 2017.

T.A. Parmenter Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

WHERE HIT MUSIC LIVES W W W .

1 0 0 J A M Z

. C O M

@100JAMZ242

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 7

GM, Honda team up to develop advanced hydrogen fuel cells DETROIT (AP) — General Motors Co. and Honda Motor Co. took a big step toward putting out vehicles powered by hydrogen fuel cells by forming a joint venture to produce the systems for both companies’ vehicles.

The automakers expect to begin production in 2020 at a GM battery-pack facility south of Detroit, creating about 100 new jobs. They’ll also work together on setting up fueling stations to make the cars marketable.

And executives say the use of fuel cell systems may not be limited to cars. They said at a joint news conference Monday in Detroit that they’re exploring military, aerospace and even residential uses for the systems, which generate electricity to power vehicles.

The companies are equally sharing the $85 million cost of the venture,

which came from a cooperative agreement on fuel cells that began in July of 2013. Executives said costs have come down dramatically since then and the new fuel cell system has become smaller, lighter, less complex and more durable.

The fuel cell producing part of the system has been reduced to the size of a box that would come close to fitting onto an airplane as carry-on luggage. A firstgeneration system from GM took up the entire floor space in a van, executives said.

GM isn’t ready to say when it might have a fuel cell car ready to go on sale widely to the public. But product development chief Mark Reuss said that’s not the only use. Fuel cells could have military applications as well as aerospace and even as home power generators, he said.

“The Army is very interested in that,” Reuss said.

“We’ve also done a lot of aerospace exploration on some of the backup systems that may be in some of those planes.”

Honda started delivering the third generation of its Clarity fuel cell vehicle to U.S. customers in December.

Although GM and Honda have trimmed costs on the system by reducing the amount of precious metals in it and making it more efficient, the cost still will be higher than an internal combustion engine when production starts in 2020, said Charlie Freese, GM’s executive director of global fuel cell business.

“We do think the building blocks are in place to close that gap,” he said.

“We are taking a lot of cost out to make the system much more affordable.”

GOP moves to undo Obama coal rules protecting streams WASHINGTON (AP) — Congressional Republicans are moving swiftly to repeal Obama administration regulations aimed at better protecting streams from coal mining debris.

Coal country lawmakers unveiled legislation Monday to block the rules, which they say would kill jobs in the coal industry, which is reeling from competition from cleaner-burning natural gas.

The legislation unveiled Monday would overturn December regulations through a process that permits Congress to revoke recently-issued rules in a manner that is immune to filibusters by Senate Democrats.

The repeal measure is set for a House vote Wednesday and a Senate vote shortly thereafter.

“The Stream Protection Rule is the latest in a series of overreaching and misguided Obama-era regulations that have targeted America’s coal industry,” said Sen. Shelley Moore Capito, R-W.Va. “If this rule were allowed to stay in place, it would add to the economic devastation for people in coal communities.”

The stream protection rules would be the first of several recent Obama administration regulations

to be targeted by using the fast-track procedures.

Former President Barack Obama easily repelled such moves with vetoes.

Senate Majority Leader Mitch McConnell said the “’stream buffer’ rule is a harmful regulation that unfairly targets coal jobs.”

The regulations would have tightened exceptions to a rule that requires a 100foot buffer between coal mining and streams. It also would require coal companies to restore streams and

return mined areas to conditions similar to those before mining took place.

Environmental groups such as the Sierra Club support the rules, saying they would protect people in coal country from health risks from pollutants like mercury.

Pro-industry senators among the measure’s numerous sponsors include Democrats Heidi Heitkamp of North Dakota and Joe Manchin of West Virginia.

A Law Firm, seeks to employ person(s) for the following positions:

Legal Secretary with at least fifteen(15) years experience.

Paralegal with at least seven (7) years experience.

Kindly send all Resumes to the following: Email: humanresourceslaw1@gmail.com Deadline for Application is 2nd February, 2017

Mark Reuss, General Motors executive vice president of Global Product Development, left, and Toshiaki Mikoshiba, chief operating officer of the North American Region for Honda Motor Co., Ltd. shake hands at a news conference announcing the GM-Honda Next Generation Fuel Cell in Detroit, yesterday. GM and Honda took a big step toward putting out vehicles powered by hydrogen fuel cells by forming a joint venture to produce the systems for both companies’ vehicles. Executives say the use of fuel cell systems may not be limited to cars. They said that they’re exploring military, aerospace and even residential uses for the systems, which generate electricity to power vehicles. (AP Photo)

A leading vacation ownership resort is seeking an applicant for the position of:

Engineering Assistant Operations Manager The incumbent will be responsible for assisting with the management of the Engineering Department and Asst. Shift Engineers. Responsibilities also include the management of property and resort maintenance, to ensure the property is maintained to the required standard, while keeping safety standard guidelines enforced. In addition, be responsible for supporting the Engineering Operations Manager and Director in the supervision of the projects that impact the general upkeep of the resort property.

Other • • • • •

responsibilities include: Conducting morning briefings Coach, develop, trains, recognizes, disciplines and rewards subordinates.

Monitors/supervises special projects specific to renovations, maintenance weeks, electrical, plumbing, painting, golf carts, gates, signage, leaks, alarms, furniture, refrigeration, air conditioning, heaters, boilers, etc.

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field/Associate Degree in relevant field • Must have a good command of the English language • At least 3-5 years in a supervisory position in an engineering environment.

Interested person can apply to the position on: Atlantislocalbahamas.com Deadline for submissions is February 3, 2017

PAGE 8, Tuesday, January 31, 2017

THE TRIBUNE

Walgreens slashes offer for Rite Aid, pushes back deadline AP Business Writer – Walgreens substantially lowered its offering price for drugstore rival Rite Aid and, facing resistance from U.S. regulators, raised the number of stores it would be willing to unload to ease monopoly concerns.

The companies initially expected to sell no more than 500 stores, but that was pushed to 1,200 under the new terms announced Monday.

The new offer for Rite Aid is between $6.50 and $7 per share, depending on how many stores need to be divested. When the deal was first announced in late 2015, Walgreens bid $9 per share, roughly $9.4 billion, for the nation’s third-largest drugstore chain.

The lower price range would cut the deal’s new value to between $6.84 billion and $7.36 billion, based on Rite Aid’s roughly 1.05 billion outstanding shares.

The deadline to complete the deal, which had already been extended once and expired last week, was pushed back to the end of July.

Shares of Rite Aid Corp. tumbled more than 17 percent to $5.74 in midday trading Monday.

The combination of Walgreens and Rite Aid would create a drugstore giant with more than 11,000 stores nationally, even with the sale of more than a thousand stores. That’s a few thousand more than nearest competitor, CVS Caremark Crop.

Rite Aid, based in Camp Hill, Pennsylvania, runs

a Walgreens retail store in Boston. Walgreens will pay $500,000 to settle the latest case of a company accused of duping New York consumers over prices. The New York attorney general’s office said Thursday, April 21, 2016, that an undercover investigation found instances where Walgreens used misleading advertising in its stores. It also accused the nation’s largest drugstore chain of overcharging customers. (AP Photo) nearly 4,600 drugstores.

The addition of its locations is expected to give Walgreens more negotiating muscle with drugmakers and other suppliers and to grow its presence in the Northeast and Southern California.

Walgreens also has a sizeable overseas presence, especially in the United Kingdom. It currently runs more than 13,000 stores in 11 countries, including 8,175 in

NOTICE

the United States.

Walgreens said last December — more than a year after announcing the Rite Aid deal — that it would sell 865 stores to rival retailer Fred’s for $950 million due to concerns raised by federal anti-trust regulators.

A Walgreens spokesman said Monday that the company still has an existing deal with Fred’s, but

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.

“We are working hard to have this deal approved and for the time being we don’t want to even think that the deal could not be approved after so many months”

NOTICE

NOTICE

NOTICE is hereby given that MR. STANLIR ALCE of Marsh Harbour, Abaco, 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 31st day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

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

BISX ALL SHARE INDEX: CLOSE 1,912.72 | CHG -0.04 | %CHG 0.00 | YTD -25.49 | YTD% -1.32 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.55 4.70 0.12 8.00 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 4.10 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 2.03 3.92 1.94 169.70 141.76 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 4.48 8.50 5.83 10.50 11.93 2.06 1.60 5.82 9.75 10.95 9.00 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 100.00 100.00 100.00 107.36 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 4.48 8.50 5.83 10.50 11.93 2.02 1.60 5.82 9.75 10.95 9.00 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 -0.04 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

107.37 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.01 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 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

VOLUME

NAV 2.03 3.92 1.94 168.44 141.76 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 -149.3 14.0 13.6 23.3 108.5 19.8 20.0 19.4 18.8 11.4 11.0 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

YIELD 1.83% 6.31% 0.00% 5.97% 0.00% 0.00% 2.01% 3.53% 3.77% 3.43% 4.11% 2.97% 3.75% 4.12% 4.10% 0.00% 3.67% 2.03% 5.36% 0.00% 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%

INTEREST 7.00% 6.00% Prime + 1.75%

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

YTD% 12 MTH% 4.30% 4.30% 3.82% 3.82% 2.73% 2.73% 3.95% 3.95% 6.77% 6.77% 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%

NAV Date 31-Dec-2016 31-Dec-2016 31-Dec-2016 31-Dec-2016 31-Dec-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

NOTICE is hereby given that SAMANTHA CLINTINA GIBBS of #181 Bimini Place, Hawksbill, Grand Bahama, 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 31st day of January, 2017 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

NOTICE

MARKET REPORT MONDAY, 30 JANUARY 2017

he declined to comment on whether that company had agreed to buy more stores or if another potential buyer had emerged.

Under the revamped deal, Walgreens, based in Deerfield, Illinois, will pay $6.50 per share for Rite Aid if it is required to divest 1,200 stores. The price rises to $7 per share if 1,000 or fewer are required.

Walgreens executives told

analysts earlier this month that they still expected to close the deal. Executive Vice Chairman and CEO Stefano Pessina said Walgreens had a “very good” relationship with Federal Trade Commission representatives, and the company wasn’t thinking of alternatives to the deal.

“We are working hard to have this deal approved and for the time being we don’t want to even think that the deal could not be approved after so many months,” he told analysts during a Jan. 5 conference call to discuss earnings.

Major deals have come under tough scrutiny because of the potential impact on consumers.

Last week, a federal judge rejected Aetna Inc.’s $34 billion bid for rival Humana Inc. on competitive grounds. The Department of Justice sued last summer to block that deal and a separate insurance acquisition, Anthem Inc.’s $48-billion purchase of Cigna Corp.

Walgreens also said Monday that it lowered the top end of its 2017 earnings forecast by 12 cents per share to account for the deal delay. Walgreens now forecasts adjusted earnings to range between $4.90 and $5.08 per share.

Analysts expect, on average, $5.02 per share, according to FactSet. Shares of Fred’s Inc. rose 3 percent to $14.55, while Walgreens Boots Alliance Inc. slipped 20 cents to $81.30, as broader indexes also fell.

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

NOTICE is hereby given that MS. BRITTANY LOUISSAINT of Marsh Harbour, Abaco, 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 31st day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PUBLIC NOTICE OF INTENDED APPLICATION FOR A GRANT OF Letters of Administration IN THE SUPREME COURT PROBATE DIVISION In the Estate of Bernard Burrows, late of No. 3 Patron Crest, Eastwood Subdivision in the City of Nassau, deceased.

NOTICE is hereby given that Arnette Burrows of No. 3 Patron Crest in the Eastern District of New Providence, one of the Islands of the Commonwealth of The Bahamas will make application to the Supreme Court of The Bahamas after the expiration of fourteen days from the date hereof, for a grant of Letters of Administration of the real and personal Estate of Bernard Burrows, in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.

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.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, MARIO COAKLEY McKINNEY of Bay Barry Drive, Nassau Bahamas, intend to change my name to MARIO ANTHONY COAKLEY. 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 date of the publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, CHRISTINA JACQUES of Talbot Avenue, Nassau Village, Nassau Bahamas, intend to change my name to CHRISTINA FERNANDER. 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 date of the publication of this notice.

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 15

GN-1848 (c) When approving the appropriate maximum diversion time for an operator for a particular aeroplane type engaged in extended diversion time operations, the Authority shall ensure that— (1) For all aeroplanes: the most limiting EDTO significant system time limitation, if any, indicated in the Aeroplane Flight Manual (directly or by reference) and relevant to that particular operation is not exceeded; and (2) For aeroplanes with two turbine engines: the aeroplane is EDTO certified. (d) The Authority shall, when approving maximum diversion times for aeroplanes with two turbine engines, ensure that the following are taken into account in providing the overall level of safety intended by the provisions of Annex 8— (1) Reliability of the propulsion system; (2) Airworthiness certification for EDTO of the aeroplane type; and (3) EDTO maintenance program.

12.100 CONTINUING VALIDATION OF THE CERTIFICATION BASIS REQUIRED

(a) The AOC holder shall be subject to a continuing system of surveillance administered by the Authority to validate the

original certification basis.

12.153 SAFETY MANAGEMENT SYSTEM

(a) The AOC holder shall have a safety management system acceptable to the Authority which implements requirements and

framework specified in Subpart I of Schedule 1. (b) The AOC holder’s safety management system shall clearly de

fine lines of safety accountability throughout the operator’s organisation, including a direct accountability for safety on the

part of senior management. (c) The AOC holder’s safety management system shall include accident prevention responsibilities that include—

(1) Administration of a methodology for reporting, both anonymous or identifiable, and correction of possible safety issues and providing feedback to the operations personnel.

(2) Evaluation of adverse trends or patterns within the industry and the AOC holder; (3) Conduct of safety briefings; and (4) Issuance of Operations Bulletins regarding safety and standardisation matters.

(1) A flight data analysis program shall be non-punitive and contain ad equate safeguards to protect the source(s) of the data (2) An AOC holder may contract the operation of a flight analysis program to another party while retaining overall responsibility for the maintenance of such a program.

(4) The records generated by the flight data program shall be restricted to uses identified in Section 7.165(h) and Appendix 1 to 7.165(h).

12.440 FLIGHT SUPERVISION & TRACKING SYSTEM

(a) For operations of turbojet aircraft with a gross weight of more

than 5,700 kg. on a published schedule, The AOC holder shall have an adequate system approved by the Authority for proper

supervision of the progress of the scheduled flights. (b) The dispatch and monitoring system shall have enough dispatch centres, adequate for the operations to be conducted, located at

points necessary to ensure adequate flight preparation, dispatch

and in-flight contact with the scheduled flight operations. (c) For scheduled operations, the AOC holder shall provide enough

qualified personnel at each dispatch centre to ensure proper

operational control of each flight. (d) The operator shall establish an aircraft tracking capability to

track aeroplanes throughout its area of operations. (e) The operator shall track the position of an aeroplane at least

every 15 minutes for the portion(s) of the in- flight operation(s) that is planned in an oceanic area(s) or a remote area(s) under the following conditions: (1)

(2)

the aeroplane has a maximum certificated take-off mass of over 27 000 kg and a seating capacity greater than 19; and where an ATS unit obtains aeroplane position information at greater than 15 minute intervals.

Note: Access to ATS aeroplane position data meets aeroplane tracking requirements.

12.470 AERODROME/HELIPORT OPERATING MINIMA

(a) The AOC holder shall establish the aerodrome operating minima for each aerodrome or heliport to be used for commercial air

transport operations involving take-off, approach to landing and landing in accordance with a method of determination approved

by the Authority. (b) Such minima shall not be lower than any that may be established

for such aerodromes by the State of the Aerodrome, except when

specifically approved by that State. (i)

The Authority will approve the AOC holder’s method for establishing the aerodrome/heliport operating minima which will apply to any particular operation provided that full account of the following factors is taken: (ii) (1) Type, performance and handling characteristics of the aircraft;

(2) Composition of the flight crew, their competence and experience; (1) (3) Dimensions and characteristics of the runways which may be selected for use; (2) (4) Adequacy and performance of the available visual and

non-visual ground aids; (5) the equipment available on the aircraft for the purpose of navigation, acquisition of visual references and/or control of

the flight path during the approach, landing and the missed approach; (6) Obstacles in the approach and missed approach areas and the obstacle clearance altitude/height for the instrument approach procedures; (7) Means used to determine and report meteorological conditions; and (8) Obstacles in the climb-out areas and necessary clearance

margins.

Signed: Keith Major Director of Civil Aviation (Actg.)

23rd January, 2017

Federal Reserve Board Chair Janet Yellen oversees an open meeting in Washington. During the presidential race, Donald Trump complained that Yellen’s Federal Reserve was being “obviously political” in keeping interest rates ultra-low. But now, some wonder if Trump will soon discover something many of his White House predecessors found: Low rates can be a president’s best friend. (AP Photo)

Will Trump drop his grumbling about Fed and favor low rates?

WASHINGTON (AP) — In the chaotic windup of the presidential race, Donald Trump complained that Janet Yellen’s Federal Reserve was being “obviously political” in keeping interest rates ultra-low. He spoke of a “big fat ugly bubble” fueled by the Fed. And he grumbled that savers were getting “creamed” by low rates.

Since then, the Fed has raised rates, and more hikes are expected. But now, some Fed watchers wonder if Trump will soon discover something many of his White House predecessors found: Low rates can be a president’s best friend.

That may be especially true when you have an economic plan as audacious as what Trump has pledged: A much faster economy, with many more exports, fewer imports, a rejuvenated manufacturing sector and 25 million more jobs over 10 years.

“I have never yet seen a president who wanted interest rates to go up,” said economist David Wyss, a former Fed staffer who teaches at Brown University. “I don’t think President Trump will be an exception.”

The kind of loose credit that the Fed engineered over the past eight years tends to provide economic fuel.

By contrast, higher rates typically slow growth. For Trump, higher rates would probably also boost the dollar’s value, thereby making U.S. goods pricier overseas and impeding his efforts to narrow the trade gap.

To smooth the way for his economic plan, the president might decide to drop the grievances he’s lobbed at Yellen’s Fed and hope its policies don’t undermine the tax cuts, deregulation and infrastructure spending he wants to push through.

“Trump’s advisers are mindful of the Fed’s impact on the U.S. dollar and the ability of American companies to export,” said Brian Bethune, an economics professor at Tufts University.

“They are going to tell Mr. Trump that the Fed is doing a good job by not raising interest rates too quickly.”

The new president will have a rare opportunity to put his stamp on the Fed in the coming year or two. He

can immediately fill two vacancies on the Fed’s sevenmember board, as well as choose someone for the influential role of vice chair of supervision.

In addition, Yellen’s term as chair will end in February next year, and Stanley Fischer’s term as vice chair ends in June next year.

Trump could replace both with more like-minded policymakers. Or he could surprise everyone by asking Yellen, with her go-slow approach to rate hikes, to remain Fed chair for another four-year term.

Under Yellen, the Fed has been cautious about raising rates as the economy has improved steadily but slowly since the Great Recession.

After keeping its benchmark short-term rate near zero for eight years, the Fed raised it

slowdown caused by Fed rate hikes.

Sung Won Sohn, an economics professor at the Martin Smith School of Business at California State University, says an incremental pace of rate hikes shouldn’t cause much drag on economic growth given that rates remain at such low levels. Yet he added a cautionary note: “President Trump has to realize that if he gets his fiscal stimulus program through Congress, the Fed cannot keep monetary policy as easy as it has been or it could create inflation troubles down the road,” Sohn said.

Trump hasn’t said whom he might consider for Fed vacancies or whether he’ll tilt toward officials more inclined to raise rates to pre-

“I have never yet seen a president who wanted interest rates to go up.

I don’t think President Trump will be an exception.” modestly in December 2015.

It waited a full year before raising it again last month to a still-low level.

Yellen and the Fed have said they envision three rate increases this year — though not likely at their latest meeting this week — and only a gradual pace beyond that if the economy progresses as expected. In a speech this month, Yellen said the economy is “near maximum employment.”

The unemployment rate is a low 4.7 percent, far below the 10 percent it hit in 2009, and inflation is edging near the Fed’s 2 percent target.

Will the Fed’s policymaking satisfy Trump? Economists suggest that the answer depends on how well he succeeds in getting his economic program through Congress and how investors respond to it.

Since Trump’s election victory, Wall Street has been on a tear, with the Dow Jones industrial average hitting records and surpassing 20,000 for the first time. Investors have focused on the potential benefits of Trump’s economic plan rather than on any possible

vent high inflation or financial bubbles or instead those who, like Yellen, favor keeping rates low to maximize employment.

But among those being mentioned is John Taylor, a Stanford University economics professor and author of the so-called Taylor rule, which would direct the Fed to adhere to a rough formula in its rate policy. Another is Glenn Hubbard, dean of the Columbia University School of Business, who led the Council of Economic Advisers in George W. Bush’s administration.

Other possible nominees for Fed board positions include Kevin Warsh, who was a board member during the 2008 financial crisis, and David Nason, who was a top Treasury official then. Nason is being mentioned for vice chairman for supervision, a role now handled by Daniel Tarullo, whom many in the banking industry see as too zealous on regulation.

Trump must also decide whether to support Republican efforts to lessen the Fed’s independence, in part by subjecting it to more intensive audits.

Trump’s travel ban weighs on global stock markets LONDON (AP) — Global stock markets fell Monday after President Donald Trump’s decision to impose a travel ban on seven Muslim-majority countries. Investors are wary of what the move presages for global trade, not least because there is so much disagreement around the world over the move.

KEEPING SCORE: In Europe, Germany’s DAX fell 0.8 percent to 11,725 while the CAC 40 in France shed 0.9 percent to 4,798.

Britain’s FTSE 100 was 0.7 percent lower at 7,132. U.S. stocks were poised for a lower open too, with Dow futures and the broader S&P 500 futures down 0.3 percent.

TRUMP TRAVEL

BAN: The executive order signed by Trump on Friday placed a 90-day ban on travel to the U.S. by citizens of Iraq, Syria, Iran, Sudan, Libya, Somalia or Yemen.

It imposed a 120-day suspension of the U.S. refugee program and blocked Syrians from entry indefinitely.

The move triggered protests and confusion at U.S. airports and raised uncertainty about specific industries as well as triggering wider concerns over global trade.

ANALYST VIEWPOINT: “He’s sticking to his pledges, adding to concerns that he goes all in and pins chunky import tariffs on China — and elsewhere — to encourage Americans to buy domestic,” said Mike

van Dulken, head of research at Accendo Markets.

ASIA’S DAY: Japan’s Nikkei 225 index fell 0.5 percent to 19,368.85. The S&P ASX 200 in Australia dropped 0.9 percent to 5,661.50 and India’s Sensex edged 0.1 percent lower to 27,849.92.

ENERGY: Benchmark U.S. crude rose 13 cents to $53.30 a barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, which is used to price international oils, was up 3 cents to $55.73 a barrel.

CURRENCIES: The euro was 0.6 percent lower at $1.0640 while the dollar fell 0.3 percent to 114.72 yen.

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 17

b o dy an d m in d

Wide grip lat pulldown

Narrow grip lat pulldowns

Creating that classic physique With the new year upon us, we find ourselves filled with New Year’s resolutions and goals. For some of us, the goals may be personal or business related, and some may be fitness related.

In some form or another these goals reflect a desire to effect a change we want to occur in our lives. Fitness goals, whether they include weight loss or muscle gain, must be approached with same vigour and dedication used when you were thinking them up, especially when it comes to body transformation.

Unless you going to see a plastic surgeon, we must be realistic with what it is we hope to achieve. So let’s try to forget about the 20 pounds of weight loss in a month and instead aim for a more realistic eight pounds in a month.

The aim of most weight loss goals is the appearance of a slimmer waistline, without the use of girdles.

Let me tell you about exercises that, if done properly and consistently, will help to create that head-turning, eye-catching ‘V’ shape.

If properly trained, the deltoids (shoulders) and the latissimus dorsi (middle of the back) can allow you to own that V-shaped body that will make you stand out in a crowd.

The best illusion-shapers are your deltoids. And when you develop your delts well, for men they will be round and boulder-like, and for women sleek and sexy. The more developed and defined your deltoids are, the trimmer your waist line will appear.

Now, close your eyes and picture yourself Dumbbell shoulder press

Lateral shoulder raises 1

with a slender and defined back, and understand that when trained properly, the lats also make your waist look smaller. So today I have a few exercises that both men and women can add to their workouts to help create that envious ‘V’ shape look.

And please keep in mind that you cannot have a beautiful ‘V’ if your abs are flabby. Forget the side crunches and side bends.

It will only make your waistline thicker. Go on a lose fat programme by combining weight lifting, cardio exercises and eating correctly.

Your abs will show the benefits in no time.

To create the illusion of a smaller waistline do the following: 1. Dumbbell shoulder press (three sets; 12 – 20 repetitions) 2. Lateral shoulder raises (four sets; 15 repetitions) 3. Wide grip lat pulldown (three sets; 12 – 20 repetitions) 4. Narrow grip lat pulldowns (three sets; 12 – 20 repetitions) • Ray Ferguson is a certified personal trainer at Club One Fitness. His motto is: “If it does not challenge the body, it does not change the body.”

He is also certified as a strength and conditioning specialist, in Tabata training, Ashtanga Vinyasa Yoga and in TRX training.

Lateral shoulder raises 2

Bad breath solutions Bad breath is an embarrassing problem. Most people who have it are usually unaware of it.

It is not an easy subject to broach with strangers, and sometimes even difficult with people whom you know. A discussion, however, is easy in a professional environment. But the difficulty is getting people to the dentist to have the condition evaluated.

Most bad breath starts in your mouth, and there are many possible causes. They include: 1. Eating foods that contain spices, onions and garlic.

2. Smoking and the use of tobacco products.

3. A dry mouth which can be caused by some medications, some diseases, or that naturally

5. Nose, throat and sinus conditions.

6. Chronic reflux of stomach acids (GERD) 7. Poor dental hygiene.

Dr Sparkman Ferguson Registrar of the Bahamas Dental Council occurs while asleep eventually leading to “morning breath”.

4. Infections in the mouth.

The majority of bad breath is caused by poor dental hygiene.

The level of odor is deepened if several of the causes of bad breath clash. So in practical terms, try to imagine a person with poor dental hygiene who is suffering from GERD, smokes, and suffers from post nasal drip from the sinuses.

Such an individual will likely struggle with daily bad breath, because it emanates from several sources.

Notwithstanding the aforementioned, most bad breath is caused by poor dental hygiene.

What to do about bad breath?

1. Seek professional dental help A dental visit is the first line of defense in combatting bad breath.

Such a visit will ascertain the possible cause/causes of the condition. With that information, the dental professional can set out to assist in eliminating the concern.

Such persons always require a thorough mouth cleansing followed by home care instructions.

2. Practice good home care Dental home care is sadly lacking in individuals with ordinary bad breath. A four-minute brushing regimen (including tongue cleaning), coupled with nightly flossing is a good start.

3. Correct dental diseases Dental diseases such as cavities and/or gum disease contribute to bad breath. A complete “cleanup” of all mouth issues is an important part of ensuring all the bases are covered.

Conclusions If an individual has “ordinary bad breath”, correcting dental diseases and practicing good home care usually produces a “cure” for their bad breath. If this basic approach fails to render the mouth free of odour, it is a signal that a deeper concern is causing the problem. At this point, a more detailed examination with medical history is indicated . Such an examination can uncover medical reasons for bad breath. In the case of a medical condition contributing to bad breath, a medical consultation with the appropriate specialist will be the correct path.

• Dental tip: If you want to know the true state of your breath, always consult a dentist. If a dentist is unavailable, ask only a trusted friend.

PAGE 18, Tuesday, January 31, 2017

THE TRIBUNE

Dialing it back There has been so much talk about turning things back to the way they were. This will eliminate all the violence of young men killing each other. Sadly, it won’t, and it can’t be done.

As the gangs take over and their warfare destabilises entire areas as well as the country, we really need to stop thinking we can live as we did before and everything will be jus’ a’right.

When we consider the level of violence here is comparative to places where they are emerging from civil wars, we know something is wrong.

We so often say that boys need to be less violent, but who is going to teach them? In fact, we teach that boys must be violent. Violence is a part of their character, according to cultural roles. We also see that young women are becoming as violent as young men.

Though we tell them that girls cannot be violent, the cultural reality is that the ways we understand gender in this society means that both girls and boys are encouraged to be violent.

We tell people that this is a Christian country, but that also means that women must submit and men must violently dominate.

Ironically, this interpretation of culture and Christianity conflate to create more violence.

There are far too many coincidences for it to be that Bahamians, those good Christian, friendly, kind, passive folk would simply be violent without an entire cul-

Dr Ian Bethell-Bennett ture building it to this.

For this reason, an entire cultural change would be needed to change it. This is not about policing or putting metal detectors in schools, or militarising the schools or building walls around certain areas because that’s where the problems are. That will not work.

In some war-torn countries and territories they have created manifold programmes to dissuade youth from violence and to address the trauma of post-violent interactions for those who inhabit places where their lives have been all but destroyed.

Some places have created programmes like ‘Sesame Street’, adapting and adopting the content and that show’s characters to their socio-cultural realities and to try undo some of the damage war has done. War does serious cultural and personal damage. We may not think of what we are living through as war, but gang warfare

is called that for a reason and it causes psychological, emotional, and cultural problems.

The above television programme does not work in isolation, but is a part of an approach that works at a number of levels to mitigate against the damage. They have realised it benefits their society to invest in multifaceted programmes to rehabilitate youth and to intervene against violence, especially when that violence is produced in a post-traumatic, post-conflict social context.

Locally, there are a number of factors that lead to these situations. We ignore the level of domestic violence as well as the level of family violence. Studies are indicating that when children are raised in violet homes where they are often beaten and abused are less likely to be successful and will not be creative thinkers. Nationally, we do not think of beating as abuse, we think of beating, even if it is with electrical wire, as discipline. All of these lead to internalised trauma and anger.

Turning back the time?

So many people seem to live in splendid isolation from the facts, not in the alternative fact reality we have been blessed with in 2017, but one where they do not understand that there is no going back. The Internet has completely altered the face of the world and it will never return to what it was. Porn, violence, violent video

What’s next for you?

As the first month of 2017 comes to a close it is a good time to determine to what you are going to focus on for the next 11 months that lie ahead. The best way to get what you want is to plan in advance by choosing what’s next for you.

Whatever is next for you, it will require time. It is baffling the unproductive ways in which so many use their time. Yes, we do live in a world of distractions. However, you are in control and must be selective in the way you use your time.

You see, your time is not only your most precious resource, it actually levels the playing field.

Consider this, we each get 24 hours per day. Be you ‘wealthy’ or ‘poor’, you get the same 24 hours.

One of the best kept secrets of success is that successful people make better use of their time.

They realise that their success is directly tied to the productive use of time and they are driven to do more with their 24 hours.

As you ponder what’s next for you, understand that your time is a major factor. Taking time to contemplate what you will do next in your life is of enormous value.

Try not to get too overwhelmed by the results you see showing up,

Michelle Miller Motivationals

Michelle M Miller instead focus more on the process. Every successful outcome begins with a successful process.

The farmer knows that a bountiful harvest is only the result of the enriching process of cultivating, planting and nurturing.

Another point of note is the idea of blaming others. While it may be easy, blaming others for your perceived failures is another unproductive use of your time.

Blaming changes nothing. You are better off figuring out how to take responsibility. Early on in my life I came to accept that nobody –

and I mean nobody – ought to be held more responsible for my life than me. It is my life. I am responsible, plain and simple. The same is true for you – it is your life; you are responsible – full stop.

Taking responsibility empowers you to decide what’s next for your life. Whether you agree or not, you are the driving force behind your life. At any time you can choose to stay the same or rewrite the script to move your life forward. Taking the latter position will enable you to select better choices and make more productive use of your time.

Now here’s the catch, and there is always a catch. You cannot become a better person if you are spending your time around negative, bitter people. Bitterness serves only to overshadow your betterment.

Therefore, you must remove yourself from negative, bitter people and places. This includes your media intake. Absorbing movies, music and conversations revolving around depressing, mean-spirited topics will not produce an improved outcome.

Your mind takes the shape of the information you feed it. As we say, garbage in – garbage out.

Find media programmes that

games are all a part of the Internet reality. They are consumed at alarming rates.

Movies and television have become commonplace in most homes, and we cannot ignore how utterly violent even Disney has become. They allow us to think that violence is normal. They encourage us to want Hollywood lives or lives that we see on TV, even though we know it ain’t real.

They draw us in and imprison us in this virtual reality where violence is normalised, much like the interpersonal violence we experience everyday on the streets of Nassau.

Music and other popular culture have become utterly obsessed with justifying themselves and selling their reality, which is usually built around violence, sex, drugs, money and irresponsibility. Bitches and hoes have become what boys expect and call women and what women are want to be, in this transactional sex day and age. The cutter special is a reality. This will not change if we put police all over the streets, in fact, it could worsen. Music is especially harmful when unfiltered and uncontrolled because it can negatively impact young people’s unconscious, especially when parents are totally disengaged from parenting their children.

Family violence and media work together to create an incredibly violent group of young people.

This is not helped by leaders

cultivating violence and encouraging the young people to see their behaviour as the acceptable norm. When we create young men with no sense of responsibility and then argue that we can turn this around by sending people back to church, we are really no seeing the trees for the forest. When we argue that young women need to be taught to be better women; the question must be asked, by whom?

Which groups of people are we talking about and how are we missing the social reality so utterly that we cannot see the design in this and the need to stop using policing as the way to make the world great and go into alternatives to this. Foe example, when we send kids to prison, no matter how bad they are beforehand, they will come out worse; there is no positive social programming in prison and the gangs are more active there than on the streets.

Research shows all of this. The Internet cannot be turned off and music will not change without great effort as it makes a lot of people very rich, and this is not about the performers themselves.

There is an industry out there that benefits from gang violence and creating bitches and hoes, let’s see how we can work against that and not stick our heads back in the sands of old.

inspire you and provide positive food for your mind. After making such adjustments, begin the process of choosing what’s next.

A good starting place is to reevaluate your sense of identity.

Sadly, millions of people selfidentify according to their titles, status or what they can build or buy.

The difficulty with this form of identity is, if who you are is based only on things you own and you

create a vision and set goals. Understand that every vision needs a goal, every goal needs a plan and every plan needs a strategy.

Leader to leader, you are the CEO of your life and it is your responsibility to choose what’s next. Take time to redefine yourself and set goals that drive you to take your life higher.

Consider participating in my upcoming session to help you clarify what’s next for your life.

• Please contact and send comments to bethellbennett@gmail. com

“Your mind takes the shape of the information you feed it. As we say, garbage in – garbage out. Find media programmes that inspire you and provide positive food for your mind.” lose all your stuff, what happens to your identity?

Consider adopting this quiet truth is: you are more than what your money or status can buy.

Your self-worth is woven into the universal tapestry that upholds the sun, moon and stars. Can you imagine that? Accept this unlimited identity and take time to really decide what’s next for your life.

Perhaps you desire to embark on uncovering your purpose – going back to school or finally doing that one thing you have been promising to do for years.

Whatever you choose, begin to

When you choose in advance what’s next, you put yourself in the driver’s seat of your life. It is at this intersection that you are better able to live an empowered.

And yes, you definitely can do it.

What do you think?

Please send your comments to coaching242@yahoo.com call or 429-6770.

• 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.

Tackling health system challenges in the Caribbean Picture two scenarios. First, a hurricane whips into a Caribbean nation. Rooves are ripped clean off, people take shelter where they can. Hospitals are damaged and people with injury and infection find it hard to access health care.

Second, hospital wards quietly fill up with people fighting heart attacks and stroke, more and more people present themselves at clinics with Type 2 diabetes. The general health of a population is affected by diet and lifestyle, including factors like cigarette smoking, alcohol consumption and changes in diet.

In both scenarios people expect basic health services to be available, ready to provide help to women in labour or respond to medical emergencies. People who need caesarean sections for delay in labour, rapid response for children with infections, or treatment for accidents and injury still need urgent care. They depend on the services provided by wellfunctioning critical care units, and such services are often under threat due to shortages of trained staff.

The two scenarios painted are devastating. Both impact on the ability of health systems to respond to urgent needs. But because natural disasters can have such catastrophic impacts, the first scenario gets more attention than the second.

The truly troubling feature of the second scenario is that chronic and non-communicable diseases (NCDs) can be prevented through low cost actions.

According to the World Health Organisation (WHO), NCDs are by far the leading cause of death

Your Say David Nabarro in the world, killing more than 38 million people a year. The four main types of NCDs are cardiovascular diseases (like heart attacks and stroke), cancers, chronic respiratory diseases (such as chronic obstructive pulmonary disease and asthma) and diabetes.

The number of people affected

by NCDs is also increasing yearly and they are part of a worldwide epidemic of chronic sickness and death. The World Bank estimates that NCDs are linked to more than seven out of 10 deaths in the Caribbean region, which exceeds the global average of 63 per cent.

This is a reflection of demographic and lifestyle changes.

What’s to be done?

First, prevention. There is good evidence on the risk factors, though many people do not know what they are. So, people first need to know why they are at risk and to be encouraged to remove the risks from their lives.

One risk is exposure to tobacco smoke (six million deaths per year). Another is low levels of physical activity (3.2 million deaths per year). Risk of NCDs are also related to consumption patterns - alcohol (1.6 million deaths per year), salt (1.7 million deaths per year) and calories.

These increase the likelihood of people being overweight, having raised blood pressure, or having high levels of sugar or fat in their

blood.

People most at risk need to be involved in planning and prevention initiatives. Joint action should be based on the best evidence of what works. A shared purpose, an agreed action plan and effective partnerships are vital for impact at this scale.

Second, early diagnosis. If people with NCDs are diagnosed early and get the best possible treatment the progress of illness can be slowed or event halted.

Responding to NCDs is a challenge when funds are limited.

Health ministers are expected to respond to the full range of people’s health needs, giving particular priority to urgent life-threatening situations and the needs of the poorest. The health sector has to be ready for crises of all kinds, and Caribbean nations are increasingly at risk. Ministers have to engage other government departments to implement preventive programmes.

In tackling these problems, Health ministers look to the WHO for strategic guidance. The WHO must continue to support member states, setting standards for what needs to be done and how they can be achieved. It must continue to show leadership in bringing governments and specialists together to exchange experiences, learn from each other and work through difficult problems.

For me, the Caribbean is an important place: I have spent a lot of time here over the years through my work in global health. Many Caribbean nations are small islands and their health ministers must either be sure that they can offer in-country specialist care for urgent conditions or mobilise

the resources needed for evacuating people with urgent medical needs to other countries. It is a region that is making great strides in health care, particularly in the use of data to improve access to care by targeting those who need it most.

But there is still a clear role for specialised international organisations, like the Pan American Health Organisation (PAHO) and the WHO, in setting standards and helping governments to achieve them. They provide the evidence, information and best practice that enable governments

and societies to act.

Ministers of Health rely on this international support; it helps them to devise and implement the kinds of health systems that are best suited to people’s needs.

It calls for high quality, transparent and accountable work underpinned by sound and consistent strategies. That is why the WHO needs strong leadership, now more than ever.

• David Nabarro is the UK Government-endorsed candidate for Director-General of the World Health Organisation.

WHERE HIT MUSIC LIVES W W W .

1 0 0 J A M Z

. C O M

@100JAMZ242

THE TRIBUNE

Tuesday, January 31, 2017, PAGE 19

Tamika Taylor’s “Showcase” helps transition the unemployed to a place of power

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

K

NOWING all too well the importance of job preparedness, Bahamian Tamika Taylor is expanding on a unique social endeavor that seeks to equip the unemployed with the resources required for a “progressive, long-lasting and fulfilling career”.

“Showcase” is the name of the social enterprise which was founded by Ms Taylor following a low point in her life in an effort to help those who find themselves in a seemingly hopeless situation in life.

Prior to this venture, she said she always worked jobs which did not suit her personality. But now Ms Taylor believes she has found her calling, which is to serve others.

Through Showcase, she said, she is able to channel her desire to do “people work”.

Ms Taylor is a mother, fulltime employee and is currently studying human resources.

She is also on a mission to help those around her to acquire the tools they need to join the workforce.

“I never knew what my purpose in life was. My family and friends oftentimes scolded me for helping people all the time, quite frequently, to my own detriment. Due to the fact that no one understood that I was born with a gift to help others, they unconsciously made me very depressed. Unfortunately, there were no advocates in the curriculum for the social service careers or engagement. Life lessons learned, and after on-the-job training, I realised that I was called for a special work – people work.

Therefore, I am so thankful to God, for the opportunity to serve others,” she told Tribune Woman.

One of main aims of Showcase is get the unemployed back onto the job marked.

One way this is accomplished is by providing clothes to those who may not have the proper attire to participate in a job interview.

“Nearly three years ago, I was working as a full-time em-

ployee and barely making ends meet. My wardrobe consisted of about six articles of clothing that I alternated, including two pairs of shoes – one of which had two holes in it and one which I wore to work every day,” she said.

Then, during a visit to Freeport someone reached out to her with the following words, “You can have anything in my closet, no exceptions”.

“It spoke life to me; it was there I decided to impact others in a meaningful way,” said Ms Taylor.

Assistance with proper business attire is only one aspect of Showcase. Ms Taylor intends to also add new training programmes in customer service training (“Who says Bahamian hospitality is dead?”), basic computer skills and adult literacy/numeracy.

“People can benefit most through our academic and social programmes designed to empower the clients and its volunteers to pay-it-forward,” she said.

“Recent events in our school system are another indicator

why this initiative has been founded. We have to reach our youths through their caretakers – the parents and guardians. Culture starts from the top. We can help them, should they desire to help themselves.”

After Hurricane Matthew, Showcase partnered with several private citizens and the IFC Ministry in both New Providence and Grand Bahama to provide food, building supplies, clothing and water to affected residents. The team worked cohesively to assess the needs of families in Freeport.

As Showcase has been operating from Ms Taylor’s home, an immediate goal is to open a physical venue which the public can access.

“We will be hosting an open house for the public on February 16. We aim to expand our programme offerings, and subsequently assist low-income individuals with the academic benefits of Showcase, construct an academic facility and expand this programme throughout our chain of islands,” she said.

Tamika Taylor, founder of Showcase

Tamika Taylor has found her calling in life – helping others.

And the winner is...

Have you ever failed in life, and if so, what did you learn from it? This was the basis of the final question at Sunday night’s Miss Universe Pageant in Manila.

With grace and poise, over 80 women from around the world competed for the title of Miss Universe, including our very own queen, Miss Universe Bahamas 2016 Cherell Williamson.

Being a part of the Miss Universe Bahamas committee, I had the unique opportunity to join an education programme centered around the concept of “Living Beautifully”.

It has always been a dream of mine to participate in a programme that mentors young people, and I was honoured to be a part of a hand-picked team under the guide of another amazing and beautiful Miss Universe Bahamas, Michelle Collie.

Over the last few months, and leading up to the Miss Universe Bahamas pageant late last year, I had the pleasure of meeting some of the most beautiful, energetic, fun loving, happy, graceful and nice young ladies. Cherell was one of those women.

She was tall, beautiful and had this coyness about her. She walked with elegance and it was hard to miss her given her height.

She walked with confidence, but

Bun In The Oven

Bianca Carter she wasn’t pushy or arrogant. As the pageant process continued, all of the girls worked hard to learn and improve themselves in preparation for pageant night and their desires to win the crown.

Cherell, dressed in blue, dazzled with her calm and collected nature. She was beautiful, poised and confident. She was crowned Miss Universe Bahamas 2016.

One of the judges at Miss Universe in Manila noted that the real pageant process happens on the night, which is where you see the true winner start to emerge and rise to the top. It takes a spe-

Cherell Williamson of Bahamas (far right) joins her fellow Miss Universe contestants on the red carpet in Manila, the Philippines, on Sunday night. AP Photo/Bullit Marquez cial person to walk away with the crown and Cherell was one of those girls that had what it took to win.

Although Cherell didn’t make the finals cut at Miss Universe, and Miss France was crowned the winner, I can say that Cherell’s journey to the pageant was an experience of a lifetime. And she was stunning thanks to wardrobe

by Bahamian fashion designer Theodore Elyett.

I’ve truly enjoyed watching Cherell learn and grow along the way. Her support system is incredible, and the love that our Bahamians have for her is heartwarm-

ing. At the end of the day, Cherell is our queen and she has made many of us very proud.

I look forward to watching Cherell as she imparts her experience of this year on others and in all her future endeavours Miss Universe Bahamas. She takes with her an experience that most never get, and I have no doubt that she will thrive in whatever she does.

She may have failed in bringing home the crown, but she’s gained by following her dreams, working hard to achieve them, and by just by being a part of it all. Cherell will do incredible things; let’s continue to support her and all

our young people as they strive to make ripples in this world.

Love & hugs!

• Bianca Carter is a certified lactation counsellor (CLC) 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.

SECTION B

TUESDAY, JANUARY 31, 2017

An expression of courage Cancer survivor’s body is a work of art

“I had wanted to do something like this just to encourage women, telling them, ‘You are still beautiful after a mastectomy’.

Photos and art by Monty Knowles

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

R

IKA Cargill has lost six of the closet people in her life to cancer. In 2012, she herself was diagnosed with breast cancer, which resulted in a double mastectomy.

But these tragic events were not enough to keep the single motherof-three down.

No how matter how difficult and heart-wrenching it was, how hopeless the situation sometimes appeared, Rika stayed strong in the face of extreme adversity.

And since beating breast cancer a year ago, she remains dauntless and determined to live life to its fullest while encouraging others to do the same.

Rika’s personal experience with cancer began in August 2012 when she discovered something unusual about her breast after giving birth to her son, George. A breast cancer diagnosis soon followed.

“I did chemotherapy here and the cancer completely disappeared.

However, it reoccurred the beginning of 2016. There was another lump that came in my right breast, so I decided, ‘Get it off!’. So I had a double mastectomy in April 2016. And by May I was up and off bouncing around the place,” she told Tribune Woman.

The diagnosis did not come as a complete shock for Rika, as she carries the BRCA-1 gene and cancer runs in her family. Both her mother and grandmother died from the disease in 2006. Two of her aunts later lost their battle with cancer.

“I lost my mother and grandmother, both to breast cancer in 2006. They passed away months apart. And two of my aunts later on. I lost my dad to prostate cancer right after I had my breast removed. I also lost a best friend to breast cancer in October, so I have been going through the ropes. And I just wanted to encourage people,” she said.

“A lot of people stop me because I share my journey a lot on Facebook. I took a lot of photos when I had my breasts removed

age women, telling them, ‘You are still beautiful after a mastectomy’.

When my kids saw the body painting they said, ‘Wow Mummy, you should do that,’ and I said, ‘I will’.

I did the painting in August and Monty released the photos as a Christmas present to me. He said, ‘Rika, just let me know what paintings you like and I will post them.’ I told him, ‘I like them all’.

And when he posted them I was so excited because of the amount of people that were responding,” she said.

“Monty Knowles’ work is absolutely gorgeous. I wanted to say that even though my breasts are missing, I am still beautiful. So when people see it they don’t see missing breasts. All they see is a beautiful work of art, and that was what I wanted.”

Since the photos were released, Rika said people have told her that they been inspired by her bravery and have even sent her messages sharing their own battle with cancer. The post on Mr Knowles Facebook page also received thousands of views, shares and even made it to a few blogs.

“I was very open about my journey because I believe once you have that support you can conquer anything. Medicine can help, but it genuinely starts with you. Mind over matter. Every sickness and disease is a mind thing, and once you have the mindset to fight and survive, and you have people loving you, taking care of you, pushing you, (you can do it),” she said.

Several local and international organisations have reached out to with the tubes still in Rika to take part in breast cancer my chest.” awareness initiatives.

And as if sharing “This year, I want to accomher journey so publicly plish my goal, which is to start wasn’t in and of itself a my nonprofit organisation ‘I Am brave move, Rika took The Cure’. I am also starting my things a step further brand as well. And every year when she took part in I am going to support someone a body painting session going through a life crisis. It with local artist and could be a homeless person, a photographer Monty mother struggling, or someone Knowles. going through depression. I just want to encourage people and “I saw Monty by give them hope,” she said.

Montagu Beach and he was doing a body Today, Rika is cancer free, painting. I was blown and with her three children – away because I had Terenique, Ticarri and George ctomy body.

– rooting for her, she said she wanted to do something ows off her post-maste sh ly ud pro ll rgi Ca ka will keep on fighting. like this just to encour- Ri

Sapphire girls encouraged to live a ‘godly life’

By ALESHA CADET

Tribune Features Reporter

acadet@tribunemedia.net

The Sapphire International Girls Club officially kicked off their 2017 activities with a special session at Mario’s Bowling and Entertainment Palace last Saturday.

The event, held under the theme “I Am Royalty – Chosen By God To Set A Holy Standard”, attracted a large number of young Bahamians and served to assist parents in raising their daughters in a Christian manner.

Cheryl Knowles, SIGC founder and event host, said the gathering was especially important to the organisation’s mentorship team which wants to engage not only the girls, but the parents as well.

The Sapphire International Girls Club has grown tremendously over the past few years, from mentoring nine to more than 50 young ladies.

Since launching, the club

Members of the Sapphire International Girls Club officially kicked off their 2017 activities last Saturday. has not only operated its full-time mentorship programme, but members have also hosted etiquette workshops, a mother-daughter retreat and their first international girls conference last September.

“We are here to help our parents raise these young ladies. We are living in a time where our young ladies and young men are in dire

need of understanding who and whose they are. This is the first time we’ve began a new year with a kick-off session, and without a doubt it won’t be our last,” said Ms Knowles.

She said the kick-off session was an exciting and spiritually enriching experience. Guest speaker Maurice “DJ Godson” Fawkes, she said, delivered a presen-

tation that encouraged the young girls to live a ‘royal’ lifestyle in the Kingdom of God, while providing them with the male perspective.

Highlights also included music performances and presentations by gospel artists Peter Runks, Avalanchee and Latisha Rolle.

“As the young folks would say, it was lit! DJ Godson is an outstanding mentor and

Cheryl Knowles, founder of the Sapphire International Girls Club motivational speaker who is doing a remarkable job in the Kingdom of God, specifically with the young men in our nation. Also, the performers are not only gifted singers, they are young mentors who can relate and are capable of reaching this now generation positively through various genres of music,” said Ms Knowles.

The passion to impart

godly wisdom is what will keep the club going in Nassau as well as the Family Islands.

“Seeing (the girls) carry themselves with dignity and pride is what motivates me to continue hosting events such as these,” she said.

As for club’s goals in 2017, Ms Knowles said her plan is to begin locating a suitable home base for the organisation. The team is also in the process of planning an etiquette workshop to be held on March 25, an anniversary fundraiser called “The Royal Tea Party” to be held this Spring, and the second annual International Girls Conference to be held later in the year.

“We are grateful and excited about what God has in store for the Sapphire International Girls Club and we extend a heartfelt ‘thank you’ to all of our supporters over the past years and look forward to a remarkable 2017,” said Ms Knowles.