04172018 business

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TUESDAY, APRIL 17, 2018

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Tourism’s battle Manufacturer survival with ex-beauty queen heats up needs tariffs post-WTO

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A FORMER Bahamian beauty queen has accused the Ministry of Tourism of failing to properly investigate her copyright violation claim, as she battles its efforts to dismiss her lawsuit.

The fight over the alleged unauthorised use of Khiara Sherman’s song, Fly Away With Me, has intensified over the past fortnight with the ex-Miss Bahamas Universe suggesting that the Ministry was not taking seriously its “obligation to preserve evidence”.

But the Ministry of Tourism, in its legal filings, argued that Ms Sherman and her record company, AK Fortyseven Records, had failed to provide sufficient factual evidence to support their claim.

It claimed that their “last ditch” production of

SEE PAGE 4

* SONGSTRESS: COPYRIGHT CLAIM NOT TAKEN SERIOUSLY * MINISTRY: ‘LAST DITCH’ EVIDENCE IS ‘FATAL FLAW’ * ‘PROOF’ IS 12-SECOND CELL VIDEO OF TV AD

KHIARA SHERMAN

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

B

ahamian manufacturers will struggle to survive unless the Government can maintain existing tariff protection upon joining the WTO, a well-known producer warned yesterday.

Walter Wells, Caribbean Bottling’s president and chief executive, told Tribune Business that many will “fall by the wayside” unless the Government is able to maintain existing import duty rates in negotiations for full World Trade Organisation (WTO) membership.

With most Bahamianmanufactured products targeted at the domestic, rather than export, market, Mr Wells said local businesses will simply be unable to compete with deeperpocketed rivals enjoying greater economies of scale unless import tariffs remain to ‘level the playing field’ on price.

* Sector will ‘fall by wayside’ if no protection * Caribbean Bottling chief warns on cut ‘lock in’ * Producers can’t be safeguarded ‘in vacuum’ Arguing that “there isn’t much to be gained” by undermining Bahamian manufacturers, resulting in business closures and job losses, the Caribbean Bottling chief said ensuring the sector’s survival in the WTO’s rules-based, liberalised trading environment will present the Government’s greatest challenge.

Mr Wells suggested that some tariff lines may even need to be increased, and he warned against “locking in” duty eliminations/reductions for products that might offer future possibilities for Bahamian entrepreneur.

Manufacturers were yesterday the first sector to participate in the two weekplus consultations between the Government and private sector, with the results intended to help craft the

Bahamas opening full WTO membership ‘offer’.

Mr Wells, who was present, hailed it as “a good first step” in developing the Bahamas’ terms of accession, and he called for the continuous involvement of manufacturing representatives as the negotiations with other WTO members gather pace.

He emphasised that manufacturers’ needs could not be addressed “in a vacuum”, warning that the Government’s “ambitious timeline” for completing the WTO accession by end-2019 may not allow for “careful consideration” of all interests.

“Certainly the challenge is ensuring we continue to have a vibrant manufacturing regime after the process is all out to bed,” Mr Wells

told Tribune Business.

“WTO revolves around free trade and the removal of trade barriers, and people see the removal of import tariffs as eliminating such barriers.

“Import duties are the only protection manufacturers enjoy,” the Coca-Cola bottling chief added, highlighting the dilemma WTO accession may pose for many Bahamian manufacturers. Mr Wells emphasised that the sector “are relying heavily on government to ensure the current protection remains intact to ensure manufacturers exist tomorrow”.

The Bahamas’ accession to full WTO membership will require the elimination

SEE PAGE 3

UNION CHIEF SLAMS ‘TRAVESTY’ OF WTO MEETING EXCLUSION

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Trades Union Congress’s (TUC) president yesterday slammed the labour movement’s noninclusion in ongoing WTO consultations as “a travesty” and “sign of backward thinking”.

Obie Ferguson, speaking as the Government kickstarted a fortnightlong series of consultations with the business community, told Tribune Business he cannot “understand the logic” behind the failure to invite trade union representatives.

Arguing that the unions represent a key “factor of production” that stands to be heavily impacted by the Bahamas’ upcoming accession to full World Trade Organisation (WTO) membership, Mr Ferguson said they had already protested their seeming exclusion to Dion Foulkes, minister of labour.

Describing his “big time” disappointment, Mr Ferguson said the TUC had sought to educate Bahamians on the potential impacts from WTO and other rulesbased, liberalised trading regimes from 2003 when it organised a major international conference on the topic.

“Fifteen years later the Government is doing the very same thing, and they did not invite one union in the country,” he told Tribune Business. “We were the ones in 2003 who did the work. I just find it amazing that we have not been briefed, we have not been notified, we were just left out.

“I don’t understand the logic of it. Not one trade union, the TUC or the National Congress of Trade Unions (NCTU) have been invited. Maybe there’s a reason. But labour is a major factor of production.

Any serious planning must include labour; in this case, labour representatives.”

* Labour’s non-inclusion ‘backward thinking’ * Complaints made to Labour Minister * TUC boss professes ‘amazement’ Bahamian workers and their employers will both have to operate within the rules established by the Bahamas’ WTO terms of accession, which will have to be negotiated by the Government in talks with members of a working party formed from all nations that have an interest in trading with this country - the likes of the US, Canada, China, the UK, European Union (EU) and CARICOM member states.

The Government likely wants to obtain feedback and recommendations from the private sector first because this is critical to forming the Bahamas’ initial WTO accession ‘offer’ on the terms of its accession.

While the trade unions and organised labour will likely be brought into the process later, Mr Ferguson said the movement had made its feelings plain to the Minister of Labour over its exclusion from the next fortnight’s consultations.

“How can serious real planning be done when the entire labour movement is excluded?” he blasted to Tribune Business.

“We met with the Minister of Labour and expressed to him our disappointment over what was published in the paper, effectively excluding all trade unions in the Commonwealth of the Bahamas.

“That’s a travesty. That’s an indication of backward thinking. If the Tripartite

OBIE FERGUSON

Council is supposed to be functioning and doing the job it was intended to do, it’s almost impossible to plan a series of WTO consultations without the participation of the unions.

“We made our presence felt to the Minister,” Mr Ferguson continued. “To invite everybody except us, and we represent the labour force, both organised and non-organised, we say it’s really a travesty.

“Now we are back to square one. We are not a part of it. Obviously we weren’t taken into consideration. I think the Government should allow the trade union movement to become part of the process. I think it makes sense.”

Gov’t’s ‘large batch’ of Oil explorer’s licence business ease reforms ‘under consideration’

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Government yesterday said it plans to introduce several ‘ease of business’ improvements in the upcoming Budget, given their important link to the WTO accession.

Brent Symonette, who has Cabinet responsibility for the trade and industry portfolio, confirmed that the Minnis administration plans to act on proposals from its ‘ease of doing business’ committee.

“That committee has reported on a number of issues. We have a large batch of recommendations,” he disclosed after addressing the first in a series of World Trade Organisation (WTO) consultations with the private

* TO BE PRESENTED IN UPCOMING BUDGET * NO ‘UNFETTERED ACCESS’ FOR WAL-MARTS * AND NO FREE LABOUR MOVEMENT UNDER WTO sector. “There will be several which will be brought out during the Budget and we are looking to make it easier to do business.”

Some in the private sector have argued that the Bahamas should hold off on becoming a full WTO member, and opening up more sectors of the economy to foreign competition, until the Government first

SEE PAGE 2

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government was yesterday said to giving “active consideration” to the renewal of an oil driller’s licence and the wider issue of exploration in Bahamian waters.

Romauld Ferreira, minister of the environment and housing, told Tribune Business that the renewal of Bahamas Petroleum Company’s (BPC) licence was “on the radar” with the issue set to be put before the Minnis Cabinet “imminently”.

BPC’s existing licence to spud its first exploratory well near the maritime border with Cuba expires this month (April 2018), having been extended for a year by the outgoing Christie administration before it

* APRIL EXPIRY OF BPC PERMIT ‘ON RADAR’ * CABINET DECISION ‘VERY IMMINENT’ was out of office. The exploration firm has so far been frustrated in its bid to drill a well south-west of Andros by the lengthy search for a ‘farm-in’ (joint venture) partner to share the financial and technical burden, with the process having taken longer than expected due to the global oil price fall and subsequent industry pull-back on exploration activities.

BPC thus requires another licence extension from the Government to continue its activities, and Mr Ferreira told Tribune

SEE PAGE 2

PAGE 2, Tuesday, April 17, 2018

THE TRIBUNE

Gov’t’s ‘large batch’ of business ease reforms FROM PAGE 1 improves the ‘ease of doing business’. This is viewed by some as critical to improving the Bahamas’ competitiveness, and allowing local businesses to thrive.

Darron Pickstock, who heads the Chamber of Commerce’s trade and investment division, said: “I think it’s important that the ease of doing business correlates with our accession to the WTO, because businesses coming into the Bahamas - and even Bahamians - would want to know it’s easy to do business.

“I think the Government is aggressively addressing that. The Prime Minister appointed the National Ease of Doing Business Committee, and the Chamber has a seat on that committee and

other various private sector individuals. I think it’s all working together to work in the same direction so we can be ready for WTO accession.”

Mr Symonette yesterday sought to calm fears among some in the private sector that WTO membership could create “unfettered access” for multinational giants, such as Wal-Mart, to establish a physical presence in the Bahamas’ market.

“The unfettered access of companies like Wal-Mart to the Bahamas; that, too, is simply not the case,” he said. “The ability of any ‘mom and pop’ store in the region, or anywhere else in the world, to freely set up shop in the Bahamas; yet another falsehood I must stress.”

The extent to which the Bahamas opens up the various sectors of

NOTICE IN THE ESTATE OF CHARLENE LAVERNE STYLES, # 47 Charles Drive, Southern District, New Providence, The Bahamas.

NOTICE is hereby given that all persons having any claims against or any interest in the above-named Estate are required on or before the 6th day of April 2018 to deliver their names, addresses and particulars of their debts, claims or interest to the undersigned and to come in and prove such debts, interest or claims, or in default thereof they will be excluded from the benefit of any distribution AND NOTICE is hereby given that at the expiration of the date hereinbefore mentioned, the assets of the Estate of the said late, CHARLENE LAVERNE STYLES, deceased, will be distributed among the persons entitled thereto.

DATED the 20th day of March, 2018 Personal Representative of the ESTATE OF CHARLENE LAVERNE STYLES c/o MITRE COURT Suite 227, 2nd Floor Island Lane Building Olde Towne, Sandyport Nassau, The Bahamas Attn: Attorney Hepburn

its economy for foreign companies to establish a physical presence here will be determined by the skills of this nation’s negotiators in determining its ‘terms of accession’ in talks with other WTO members.

Mr Symonette, meanwhile, refuted claims that full WTO membership will cost the Bahamas sovereignty over its domestic economic and monetary policy.

He added that, unlike the Caribbean Single Market & Economy (CSME), joining the WTO will not result in the free movement of foreign labour into the Bahamas.

“The free movement of labour, in which people from anywhere will have unfettered access to the Bahamas for work. Allow me to stress that is not a feature of the WTO at all,” the Minister said.

Still, Mr Symonette acknowledged that joining the WTO “represents a paradigm shift for international trade in the Bahamas”, and he hinted that there may be some short-term pain before the benefits are felt.

“We are fully aware of the opportunities and challenges that membership in the WTO poses, but believe that, based on our research and best guidance, that this is in our medium and longterm interest,” he said.

The Minnis administration is pushing for WTO accession by December 2019. “It’s going to be a tight, aggressive timeframe.

We have had a WTO accession team out from [WTO] headquarters,” said Mr Symonette.

“They were here for a week. They worked with us, with the staff and we feel happy. They have offered us assistance from head

office and we look forward to being able to meet that challenge.”

Asked why the Government was pushing to complete WTO accession now, having applied for membership back in 2001, Mr Symonette said: “We need to create a competitive environment. We need Bahamians to have access to the international markets. Likewise, nonBahamians need to have access here which will create more opportunities for small and medium-sized businesses.”

Mr Symonette said membership will allow Bahamian entrepreneurs and companies to pursue trade opportunities globally, and benefit from the protections and safeguards of rules applicable to all WTO members.

He added that it will also strengthen the Bahamas’

competitiveness and ability to attract international capital and investors.

Addressing WTO’s likely impact on Freeport and its ‘free trade zone’, Mr Symonette said: “That’s going to be an interesting one.

“The free trade zone that exists, that will be part of the negotiations. We will deal with that in the whole WTO accession process and that will be carved out.”

The Minister added that developing a new tax structure as the Bahamas becomes less dependent on Customs duties for government revenue; the cost of compliance; and the need for some sectors to make ‘adjustments’ to a more liberal investment environment are some of the challenges this nation will face with WTO accession.

Oil explorer’s licence ‘under consideration’ FROM PAGE 1 Business: “All of that is under active consideration.

“We maintain good relations with the company.

There are some things in relation to oil exploration that are going to be before Cabinet for consideration, and it would be inappropriate for me to speak to them before Cabinet considers them.”

Pressed by Tribune Business, Mr Ferreira added of BPC’s licence and oil exploration: “It’s on the radar and I would say it’s very imminent. We understand these are time sensitive issues and it’s important.

“We’re working on it.

My Ministry is working on it, and we will submit something for Cabinet’s consideration and take it from there.”

Simon Potter, BPC’s chief executive, told Tribune Business by e-mail: “We welcome any and all ‘active consideration’ by the Government.” Contacted by phone yesterday, he declined to comment further, but this newspaper understands that a Government decision could be forthcoming before month’s end and the company is hopeful for a positive outcome.

Carl Bethel QC, the Attorney General, recently thrust oil exploration in Bahamian waters back into the spotlight when he told the Senate that the Bahamas only had a two-decade ‘window of opportunity’ before oil is no longer profitable.

Suggesting that the Bahamas could not ignore the possibilities for economic diversification, he said:

“Where will we find future foreign currency earnings to make up for the losses being incurred in our second economic pillar?

“Can tourism alone bring in the kinds of foreign currency inflows needed in an economy which has to import the vast majority of its most basic needs, and to pay for such necessities in US dollars?

“Well, we know that we have to make a decision sometime in the near future on the Bahamas Petroleum Company and its proposal to drill for oil in the area just off the southernmost part of the Great Bahama Bank. “The hard decision may have to be taken,” Mr Bethel added.

“With the rapid development of renewable alternative energy sources, we may have no more than a 15-25 year window in

which to profitably extract any such resources.”

While environmental activists and others are opposed to oil exploration in Bahamian waters, due to the potentially negative impacts on the environment, tourism and economy should a spill occur, the potential benefits for a Government struggling with a $7.5 billion-plus national debt are likely to be too strong to ignore.

The former Christie administration passed into law a regulatory framework to govern oil exploration, as well as creating a sovereign wealth fund to handle any royalties and other proceeds from its discovery. It also shelved any referendum on whether to permit oil drilling in Bahamian waters until after there was confirmation that such deposits exist.

THE TRIBUNE

Tuesday, April 17, 2018, PAGE 3

‘Someone has to pay’ $2m deportation bill

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A CABINET Minister yesterday lamented the high cost of illegal Immigration, and warned that “someone has got to pay” for the near$2 million deportation bill year-to-date.

Brent Symonette, who has responsibility for Immigration, confirmed some work permit fees will increase as he addressed the first in a series of World Trade Organisation (WTO) industry consultations to be held over the next two weeks.

MANUFACTURER SURVIVAL NEEDS TARIFFS POSTWTO FROM PAGE 1 of, or substantial reduction in, many existing import tariff rates given that such liberalised trading regimes view them as trade barriers.

But, apart from forcing the Government to reform its tax system to compensate for the revenue losses that will result, such a restructuring also raises the prospect that many Bahamian manufacturers will lose the protection that enables them to compete on price with rival imports.

“Manufacturing is based around the ability to sell product locally, not so much product for export,” Mr Wells told Tribune Business.

He pointed to the relatively minimal level of Bahamian goods exports, which are largely concentrated on fisheries (crawfish) and polystyrene/styrofoam products (Polymers International).

One argument advanced for joining the WTO is that it will better guarantee market access for Bahamian exports, as other countries will be unable to deny them entry through their own tariffs and other trade barriers. Ray Winder, the Bahamas’ chief negotiator, says this will help attract new investment to Freeport and unlock its potential as a manufacturing hub.

And Brent Symonette, minister of financial services, trade and industry and Immigration, told yesterday’s manufacturing consultation that the Bahamas’ existing high import tariffs could make its exports “vulnerable to sanctions” from other countries as a retaliatory measure.

But Mr Wells said some form of tariff protection post-WTO accession will be necessary “otherwise you will see some businesses fall by the wayside”.

He added: “I don’t think it’s the Government’s intention,

“The fees will come into effect by July 1. There are only a couple of changes, and they are mainly in the low-end $1,000 bracket.

Some are $25-$50 because those fees haven’t been increased since 2008,” said Mr Symonette.

He added: “I think there is concern. The Ministry or Department of Immigration has just rented a building in which we are going to establish a registry. In the last four weeks or so, we have moved over 300,000 files; physical files. Each of those represent a person who has applied for a work permit or otherwise in the Bahamas.

* 12 Enterprises Bill applicants approved * Minister sees continued firm HQ boost “That doesn’t include permanent residency or citizenship. That doesn’t include GB Shipyard, which is doing 300 permits a week.

That’s just basically here.

The cost of deportation is another large cost, which has been about $1.6 million so far this year; deporting non-nationals. At some point someone has got to pay for this.”

Mr Symonette also addressed the Commercial

Enterprises Bill, expressing confidence that it will encourage more international firms to headquarter and establish a physical presence in the Bahamas because of its incentives.

“The Government passed the Commercial Enterprises Bill the other day,” he said. “I think on Tuesday of last week we were through [around] 12 applications under that Bill

which resulted, in one case, one company bringing in 35 people. They’re moving their headquarters here and will hire local people.

“That one application was processed within three weeks, so the process is moving. The Prime Minister is on a tour at the moment, which will result in investment and opportunities where we market the Bahamas and say, for instance, Grand Bahama,

and position the Bahamas as the place to move business.”

Mr Symonette added: “I got a lot of criticism in the press talking about a call centre. One of the applications we approved was actually or a call centre in a particular field. It’s interesting that Act has had a tremendous reaching effect and, as time goes on, we look forward to more business headquartering.”

and hope it’s not the Government’s intention, for anyone to go out of business because of WTO. “Government stated it’s their desire to see local industry protected, but the devil is in the detail and accession is a negotiated process. We will say: ‘We want tariff x’, but other countries will say: ‘We want tariff y’. There is some horse trading, but we hope that horse trading is not to the detriment of local manufacturers. I don’t think there’s much to be gained by seeing companies closed down and people laid off.”

Ryan Pinder, who once had Cabinet responsibility for trade as minister of financial services, previously told Tribune Business he had sought a solution that both protected Bahamian manufacturers and met the demands of WTO members.

Acknowledging that this country’s high cost base made it difficult for local producers to compete, Mr Pinder said the Bahamas needed to negotiate the preservation of existing tariff rates on rival imports while eliminating/lowering duties on products that did not compete with domestic manufacturers - thereby reducing its average tariff rate to levels acceptable to the WTO. Mr Wells, meanwhile, explained why it was impossible for Caribbean Bottling to compete with the likes of Nestle by shipping water products to Florida and other export markets, adding that local mattress and window manufacturers faced similar obstacles.

“A bottling company in Florida sells 300 million cases of product per year,” he told Tribune Business.

“Their cost per unit is onetenth of what it costs me to produce. They don’t have the overseas freight cost to import materials here, and have far greater economies of scale.

“They can run 24/7, while I can produce maybe for eight hours per day. They

can amortise their fixed cost base over a much longer period.”

Pointing out that the Industries Encouragement Act and other legislation had encouraged Bahamians to “invest in this for the long haul”, Mr Wells added that there “seems to be little benefit” to scrapping incentive regimes “put in place long ago to encourage diversification”.

Calling for existing tariff rates on imported rivals to be preserved “at a minimum”, he said: “There are some industries today that the Government sees producing which are barely surviving.

“They’re vulnerable because their cost to produce the product is at the same price it’s imported for.

In some cases, they may have to give consideration to increasing tariffs.”

Mr Wells also urged the Government to look into the future, and identify possible future Bahamian manufacturing possibilities, when setting its tariff-related WTO offers.

“The other thing that needs to be considered in terms of the economy, and diversification of the economy, is that we need to look at what we may consider manufacturing down the road,” he told Tribune Business.

“It we reduce tariffs today on items someone may consider manufacturing, we make it impossible to do it tomorrow. We mustn’t ring fence current manufacturing, and have to leave all those wide open.

“Once we start down a certain path and commit to tariff rates for the long haul.... once we do that, you’re kind of locked in. It makes it difficult to entertain those opportunities down the road.”

The WTO accession process will likely bring debate over the extent to which the Bahamas needs to maintain a domestic manufacturing/production base to the fore, together with the

liberalisation versus protectionism argument and whether consumers will be better served through lower tariff rates.

Mr Symonette alluded to this in last year’s Budget debate, after the Government received ‘push back’ on the lowering of duties on paint and imported juice drinks, saying there needed to be a wider discussion on the merits of maintaining high tariffs to protect just one or two businesses at the expense of the consumer.

Mr Wells, praising the Government’s efforts to involve the private sector in the WTO process, said manufacturers were yesterday

asked to provide information on the products they make and “the level of protection they are seeking”.

“It was a good meeting.

It’s the first crack,” he told Tribune Business. “I think it’s very important that they listen very closely to people on the ground, people that live this, so they know what their challenges are and what they need to survive.

“It’s ensuring there’s adequate representation at the negotiating table of people who understand what’s going on in the manufacturing sector. You can’t negotiate for manufacturing in a vacuum; you need to take advantage of people

in the industry. The meeting this morning was a good first step in that direction.”

Suggesting he was ready for whatever the WTO might bring, Mr Wells added: “It’s today’s world and just another challenge.

It’s something to give me a few more grey hairs, but it’s what business is about. We’ll deal with it as best we can and keep moving.

“Let’s start down this road together. It’s a challenge, it’s a very long negotiating process, and needs to be given careful consideration. It’s not something that can be rushed, and the Government has set a very ambitious timeline.”

BRENT SYMONETTE

NOTICE VACANCY (for an) ACCOUNTING ASSISTANT Applications are invited from suitably-qualified applicants for the position of Accounting Assistant.

Applicants must possess the following qualifications: •

• • •

Bachelor’s Degree in Accounting OR; an Associates of Arts Degree, with a minimum of two (2) years experience as a Trainee Accountant OR; two (2) subjects at the BGCSE level, and, at least, six (6) years’ experience as a Senior Accounts Clerk; Excellent organizational skills; Excellent communication skills (oral and written); analytical and conceptualized thinking skills; excellent interpersonal skills; Excellent computer skills,(proficiency in Excel required);

IN THE SUPREME COURT (Family Division) RE: Tessa Semonia Noel nee Smith vs. Recobiete Igobert Noel (Action No. FAM/div/No. 00457 of 2017) TO: RECOBIETE IGOBERT NOEL TAKE NOTICE that: 1.

Petition, Notice of Petition, Memorandum of Appearance and Ac knowledgement of Service all filed herein on 12th September, A.D., 2017.

2.

Notice of Application for Maintenance Pending Suit filed herein 26th September, A.D., 2017.

3.

Affidavit of Tessa Semonia Noel nee Smith filed herein on 18th October, A.D., 2017 has been filed against you by Tessa Semonia Noel nee Smith, the Petitioner herein.

4.

The hearing date of the Notice of Application for Maintenance Pending Suit and Divorce Petition have been set to be heard on Tuesday, the 24th day of April, A.D., 2018 at 9:00 a.m. in the morning before The Honourable Justice Renae McKay whose Chambers is located on the 3rd Floor Ansbacher Building, Bank Lane, Nassau, Bahamas.

5.

You must attend the above mentioned hearing otherwise an Order will be granted in your absence.

The Accounting Assistant will report to the Financial Controller.

SUMMARY OF DUTIES: 1.

2.

3.

4.

5.

6.

7.

8.

9.

Prepares payment of invoices; Assists with the preparation of the monthly reports; Assists with the monthly reconciliations; Liaises with departments on outstanding invoices for payment; Responds to suppliers’ queries; Assists with budget preparation; Assists with the issuance of cheques; Assists with the maintenance of company records; Maintains Accounting files.

Letter of application and curricula vitae should be submitted to: The General Manager; P.O. Box N-1986, Nassau, Bahamas; to be received NO LATER THAN Friday, April 20th, 2018.

Please note that only short-listed applicants will be contacted for interviews.

C. Yvette McCartney-Meredith Chambers Building No. 11 7th Terrace West Centerville Nassau, The Bahamas.

Tel No: [242] 328-6725/326-4620 Vibe: 225-1002 Attorneys for the Petitioner

PAGE 4, Tuesday, April 17, 2018

TOURISM’S BATTLE WITH EX-BEAUTY FROM PAGE 1

a 12-second cell phone video, showing a tourismrelated TV advertisement purportedly featuring Mrs Sherman’s song, failed to cure this “fatal flaw” because it was produced too late.

The legal arguments and filings are heating up ahead of the southern Texas federal court’s decision on whether to grant the Ministry of Tourism’s motion to dismiss Mrs Sherman’s copyright infringement and breach of contract claims.

She and her record company, in an April 3 filing, argued that the Ministry of Tourism’s case for dismissing their action “boils down” to its supposed inability to find the tourismpromoting TV commercial responsible for the purported copyright breach.

“While that may speak volumes about how seriously defendant takes its legal obligation to investigate claims and preserve evidence, it has nothing to do with the merits of plaintiffs’ case,” attorneys for Mrs Sherman and AK

THE TRIBUNE

Fortyseven Records argued.

“Plaintiffs’ complaint provides detailed allegations about the infringed work, the infringing acts, the contract between the parties, the breach and the damages.... The facts giving rise to this lawsuit could hardly be more straightforward.

“In 2014, plaintiffs published a musical work entitled Fly Away With Me. Defendant knew plaintiffs had authored and performed the song. Nonetheless, in 2016, as part of an advertising campaign, defendant reproduced and distributed a verbatim copy of a portion of Fly Away With Me in a television commercial without seeking or obtaining plaintiffs’ permission.”

Mrs Sherman, who represented the Bahamas at the global Miss Universe pageant when it was controlled by now-US president, Donald Trump, said the Ministry of Tourism had been provided with a copy of the alleged offending TV commercial on March 28, 2018.

But the Ministry, distinctly unimpressed, said the purported evidence had been produced too late for the Texas court to consider it because it was not

attached the initial lawsuit filing.

Arguing that Ms Sherman and her record company had failed to identify the alleged copyright infringement, the Ministry’s attorneys said: “After the Ministry incurred the significant cost of filing its Motion to Dismiss, plaintiffs admitted this fatal flaw by voluntarily producing some documents allegedly showing evidence of infringement.

“Plaintiffs’ production is too little, too late. Plaintiffs failed to identify even a single, specific act of copyright infringement in their complaint.” As a result, the Ministry of Tourism is alleging there are strong grounds for Ms Sherman’s action to be thrown out because it fails to meet the ‘pleadings’ standards required by US federal courts.

Referring to the lastminute production of the ‘offending’ TV commercial, the Ministry added: “Plaintiffs’ newly-issued invitation for the court to consider ‘facts’ outside the pleadings further underscores the deficiency of plaintiffs’ complaint.

“Accordingly, the unauthenticated 12-second cellphone video of a television screen that plaintiffs provided to the

Ministry’s counsel after the Ministry filed its Motion to Dismiss.... is not a ‘fact’ that the court can consider. It is undisputed that plaintiffs did not attach the unauthenticated video to the complaint.

“Therefore, the newlydiscovered cell phone video on which plaintiffs now seek to rely is irrelevant to deciding the Ministry’s Motion. This unauthenticated last-ditch ‘evidence’ simply cannot cure the deficiencies in plaintiffs’ complaint.”

The Ministry of Tourism alleged that Ms Sherman had failed to provide specifics showing how she was harmed, and added: “Plaintiffs’ accusation that the allegedly infringing work was widely distributed on television and the Internet is belied by the fact that not even plaintiffs are able to locate the work in those media.

“And Plaintiffs assumedly knew what they were looking for and possessed the ‘evidence’ in advance of filing this lawsuit. The broad statements in the complaint certainly were not sufficient to allow the Ministry to identify the work.

“And, contrary to plaintiffs’ misrepresentations, the Ministry’s ‘obligation to

NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

MILBOURNE INVESTMENTS HOLDINGS LIMITED

REIGATE INVESTMENT CORP.

INTENT TO CHANGE NAME BY DEED POLL

In Voluntary liquidation

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000). REIGATE INVESTMENT CORP., is in Dissolution.”

“Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000). MILBOURNE INVESTMENTS HOLDINGS LIMITED, is in Dissolution.”

The date of commencement of dissolution is the 11th day of April, 2018.

The date of commencement of dissolution is the 11th day of April, 2018.

Rouge 2004 Limited of Whiteley Chambers, Don Street, St. Helier, Jersey, JE2 4TR Liquidator

Lauren Ramsay, No. 6 Bosham Close, Camperdown Heights P.O. Box SP 6380, Nassau, Bahamas Liquidator

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

BISX ALL SHARE INDEX: CLOSE 1,979.96 | CHG 0.13 | %CHG 0.01 | YTD -83.61 | YTD% -4.05 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 19.17 7.50 3.76 1.64 0.19 4.50 8.80 6.30 5.30 11.50 2.59 1.56 9.25 6.10 10.55 8.10 13.67 12.51 11.00

52WK LOW 3.50 17.43 7.50 3.32 0.90 0.12 3.30 8.40 6.00 3.15 9.00 2.18 1.40 7.30 6.00 8.78 5.67 3.35 12.01 10.00

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 Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Premier Real Estate

1050.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

PREFERENCE SHARES

1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 105.00 100.00 100.00 10.00 1.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ PRE

E J K L M N

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

52WK LOW 100.00 100.00

CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

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

SYMBOL FBB18 FBB22

Bahamas Note 6.95 (2029) 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 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

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.13 4.14 1.99 178.69 153.40 1.54 1.70 1.62 1.10 6.99 8.54 6.15 10.52 11.46 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.48 1.62 1.57 1.04 6.41 7.62 5.66 8.65 10.54 9.57

LAST CLOSE 4.23 17.43 9.09 3.34 1.00 0.18 3.35 8.80 6.10 4.13 10.07 2.72 1.50 7.77 6.10 10.44 6.23 4.47 12.51 10.00

CLOSE 4.23 17.43 9.09 3.34 1.00 0.18 3.35 8.80 6.10 4.13 10.07 2.77 1.50 7.87 6.10 10.44 6.23 4.47 12.51 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 0.05 0.00 0.10 0.00 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00

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

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

110.26 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.06 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

110.32 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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 Royal Fidelity Int'l Fund - High Yield Fund Strategies Fund

VOLUME

VOLUME

EPS$ 0.361 0.932 -0.306 0.281 -1.133 0.000 -1.465 0.638 0.583 0.171 0.631 0.102 0.330 0.000 1.129 0.743 0.832 0.293 0.543 0.000

DIV$ 0.080 1.130 0.000 0.230 0.000 0.000 0.000 0.320 0.220 0.120 0.690 0.060 0.050 0.084 0.300 0.500 0.150 0.120 0.570 0.000

P/E 11.7 18.7 N/M 11.9 N/M N/M -2.3 13.8 10.5 24.2 16.0 27.2 4.5 N/M 5.4 14.1 7.5 15.3 23.0 0.0

YIELD 1.89% 6.48% 0.00% 6.89% 0.00% 0.00% 0.00% 3.64% 3.61% 2.91% 6.85% 2.17% 3.33% 1.07% 4.92% 4.79% 2.41% 2.68% 4.56% 0.00%

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

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

INTEREST 6.00% Prime + 1.75% 6.95% 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%

NAV 2.13 4.12 1.99 178.69 153.40 1.54 1.69 1.62 1.09 7.16 8.40 6.29 11.28 11.60 10.21

YTD% 12 MTH% 0.31% 4.30% 0.16% 5.93% 0.17% 2.36% 4.66% 3.89% 5.58% 6.65% 0.36% 4.29% -0.15% 3.50% 0.23% 3.89% -0.34% 4.66% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69%

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

4 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

The Public is hereby advised that I, Devon Allan Stubbs of Kennedy Subdivision, P.O. Box N-4288,New Providence, The Bahamas, intend to change my name to DEVON ALLAN PICKERING. 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 publication of this notice.

NOTICE

NOTICE is hereby given that SAMUEL GUSTAVE of Mermaid Blvd., Golden Gates #2, New Providence, 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 10th day of April, 2018 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

MARKET REPORT MONDAY, 16 APRIL 2018

Sherman and the Ministry of Tourism), the timeframe in which the offer was made and accepted (September 2016), the nature of the contract, the nature of Mrs. Sherman’s obligations (performing work on behalf of the Ministry), the nature of the Ministry of Tourism’s obligations (paying Mrs. Sherman $113,160 plus approximately $15,000 in benefits), the term of the contract (three years), that Mrs Sherman tendered performance (by attempting to perform the work), the specific promise breached by the Ministry (failure to pay the amount due), and the damages suffered as a result (the monies owed on the contract which were not paid).”

But the Ministry, which was given the last word, countered: “Plaintiffs fail to state a claim upon which relief can be granted.

Plaintiffs do not include sufficient factual content in their complaint to identify the allegedly [copyright] infringing work. The Ministry is therefore not on fair notice of the claim against it and the grounds upon which such claim rests.

“Plaintiffs’ contract claim is likewise deficient. Plaintiffs do not plead facts supporting the elements of breach of contract.”

PUBLIC NOTICE

Legal Notice

Legal Notice

preserve evidence’ is not at issue.”

Mrs Sherman and her attorneys not surprisingly disagreed, arguing that they had supplied sufficient factual evidence to satisfy US federal pleading requirements.

“Defendant’s sole argument is that it cannot locate the infringing works,” they said of the Ministry of Tourism. “Considering defendant’s obligation to preserve evidence, that is concerning.”

Pointing out that the Texas court “will soon be required to judge the credibility of the parties”, Mrs Sherman and her record company argued that the Ministry of Tourism’s inability to locate the offending TV commercial was the “most notable” aspect of their defence.

Ms Sherman’s second allegation, which involves the purported breach of her $130,000 employment contract by the Ministry of Tourism, was meanwhile given similar treatment by the latter who said the claim “falls even shorter” when it comes to providing facts.

This, though, was refuted by the former beauty queen-turned-songstress, who said: “The pleading identifies the specific parties to the contract (Mrs

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

MATURITY 31-May-2018 19-Oct-2022 20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022 NAV Date 31-Jan-2018 31-Jan-2018 26-Jan-2018 31-Dec-2017 31-Dec-2017 31-Jan-2018 31-Jan-2018 31-Jan-2018 31-Jan-2018 30-Nov-2017 30-Nov-2017 30-Nov-2017 30-Nov-2017 30-Nov-2017 30-Nov-2017

NOTICE is hereby given that FREDLINE FLEURY of Golden Isles Road, P.O.Box N-9405, New Providence, 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 10th day of April, 2018 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Legal Notice NOTICE

BOWER ASSET MANAGEMENT LIMITED NOTICE IS HEREBY GIVEN as follows: (a) BOWER ASSET MANAGEMENT LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 16th of April, 2018 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Shareece E. Scott of Deltec Bank & Trust Limited, Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.

Dated this 17th day of April, A.D. 2018 Shareece E. Scott Liquidator