05302017 business

business@tribunemedia.net

TUESDAY, MAY 30, 2017

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Minister: $126m NHI funding ‘doesn’t exist’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

DR DUANE SANDS

NATIONAL Health Insurance’s (NHI) purported $126 million financing “does not exist”, with the new Government yesterday said to have inherited “the challenge to identify a source of funds” for the scheme.

Dr Duane Sands, the minister of health, told

Tribune Business that the former Christie administration had never properly set aside funding for its signature healthcare reform.

As a result, both NHI’s $100 million primary care phase roll-out - and the accompanying $26 million catastrophic care component - are currently being financed directly from the Consolidated Fund, the central fund in which all tax See PG B4

Sands: Finances not properly ‘set aside’ Consolidated Fund funding scheme ‘Challenge’ to identify revenue source

Bahamas moves to stop ‘Tremendous progress’ ‘devastating’ blacklisting on catastrophic care

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government yesterday moved to prevent the “devastating” consequences of a financial services ‘blacklisting’ by confirming its readiness to alter the Bahamas’ automatic tax information exchange approach.

A Ministry of Finance statement, issued yesterday evening, said the Minnis administration had “formally indicated its interest” to the Organisation for Economic Co-Operation and Development (OECD) in implementing the Common Reporting Standard (CRS) by acceding to the Multi-Lateral Convention for Mutual Assistance in Tax Matters.

K P Turnquest, the Minister of Finance, told Tribune Business that the multilateral policy switch “allows us to mitigate the threat” that the Bahamas would be deemed non-cooperative on tax information exchange, and subsequently named on a ‘blacklist’.

“Front and centre in our considerations was the need to mitigate any ‘blacklist’,” he said. “That would be devastating to our financial services industry. We’re prepared to do whatever’s required to demonstrate to our peers that we’re a wellregulated and compliant jurisdiction.”

The Government’s move was described by a wellknown QC as “a prudent and appropriate step” to safeguard the Bahamas and its financial services indus-

Tells OECD it will go multilateral on CRS Minister: Move ‘allows us to mitigate threat’ ‘Handwriting’ long on wall for policy shift

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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Minister of Health yesterday said “tremendous progress” has already been made in designing a catastrophic health insurance scheme, with the Government focusing on a privatepublic partnership (PPP) delivery model.

Dr Duane Sands told Tribune Business that while such a plan would be “unsustainable” if it sought to provide unlimited amounts of funding for every patient, it was still possible to “add phenomenal value” to care quality.

He added that there was significant “capacity and expertise” in the Bahamian healthcare industry when it came to dealing with catastrophic illnesses, indicating that the Government would seek to draw upon the sector in designing and delivering such a scheme.

Dr Sands said if implemented correctly, this

Govt focusing on PPP delivery model Not limitless, but ‘phenomenal value’ possible Aiming to reduce Florida dependence would increase Bahamian healthcare investment and move the country away from a model where persons were collectively spending $200-$300 million annually for care in Florida.

While acknowledging that catastrophic healthcare can quickly become very expensive, he explained: “It depends on your definition of a catastrophic care plan.

“If you say there’s an infinite amount of money for every patient, it’s not sustainable, but depending on See PG B6

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MINISTER ADMITS FYRE FEST CONFLICT ‘DOESN’T LOOK GOOD’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE involvement of a senior Ministry of Tourism official in the ill-fated Fyre Festival’s catering “doesn’t look good”, a Cabinet Minister admitted yesterday, agreeing it created ‘conflict of interest’ perceptions.

Dionisio D’Aguilar, the Minister of Tourism, said senior officials at his Ministry had been unaware DeAnne Gibson, its manager of culinary tourism, was linked via her sister to the company that provided catering services to the event.

He revealed that he requested “a more detailed” report from his officials on the Fyre Festival debacle after Tribune Business

Ministry unaware of culinary chief’s catering ties D’Aguilar sought ‘more details’ on conflict claims No evidence organisers directed to use relative revealed that catering was provided by a company created specifically for the event, called Cater Fyre.

Cater Fyre was organised by Mrs Gibson’s sister, Donna M. Williams, assistant professor of food See PG B5

Union demands clarity over BTC ownership

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE trade union representing Bahamas Telecommunications Company (BTC) line staff yesterday said it will resist industrial agreement changes if the company’s sale has not been fully approved.

Bernard Evans, the Bahamas Communication and Public Officers Union’s (BCPOU) president, said he has asked Labour Minister, Dion Foulkes, to verify whether Liberty Global has taken ownership control at BTC. “We have asked to meet with our new apparent owner, Liberty Global,”

Wants minister to confirm Liberty Global deal approved Evans slams continued job outsourcing Mr Evans said. “We have leveraged our ties with our regional affiliates, and through those correspondences we have been told that everything hasn’t been finalised. We ought not to be entertaining any changes if they are not the rightful owner of the company.

Liberty Global announced last May that it had completed the See PG B5

BRIAN MOREE try, the so-called ‘second pillar’ of the Bahamian economy, from any ‘blacklisting’ by the likes of the OECD and European Union (EU).

With the EU threatening to produce such a list of countries it deems noncooperative in fighting tax evasion by year-end, Brian Moree said the changed approach to CRS implementation had been anticipated by many in the financial services industry for some time.

See PG B4

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PAGE 2, Tuesday, May 30, 2017

THE TRIBUNE

Calling All High

SCHOOL STUDENTS

Every year in August THE TRIBUNE publishes a popular Back to School supplement as a guide to the following academic year.

In the supplement we feature the profiles of high school students across the Bahamas and Family Islands.

We want profiles from as many schools and students as possible to make this guide essential and informative.

Profiles must include 1. Name 2. Age 3. School 4. Grade 5. Parent name or names 6. Goals and aspirations, prizes won and honours awarded

7. Name of college they will be attending (if attending) Plus a suitable photograph in .jpeg format (graduation or any other image).

How to submit profiles Email to back2school@ tribunemedia.net with ‘Back To School’ in the subject field and photos in .jpeg format.

By post to Back To School, The Tribune, Shirley Street & Deveaux Streets, PO Box N-3207, Nassau.

By hand to The Tribune office The deadline for the profiles is June 30, 2017 and there is no cost involved. For any questions please contact Tribune Features at 5022380 or 502-2391.

Pumping up your electricity savings WE’VE barely reached the end of May, and already it feels like summer is in full swing. This means that, after spending the winter months as far away from frigid pools as possible, many Bahamians are making the annual migration back into the water.

This, in turn, raises the issue of the pool pump. How many hours will I have to run it to keep my pool clean?

And how much will it raise my electricity bill? With these questions in mind, it is worth considering whether an upgrade to a solar pump for your pool, or even for your whole home, is a good investment for you.

When it comes to solar pumps, there are two main options: * Upgrade to a solar pump, or * Pretend to upgrade to a solar pump. Believe it or not, most of my clients pick this option.

Consider Option one; upgrading to a solar pump.

How does it work? Let us take the pool, for example.

To convert to a solar pool pump, we would remove your current pump and replace it with one designed to work directly with solar power. Then we would install solar panels and controllers, ideally as close as possible to your pump. The wiring would be run, connections established, and fasteners secured. Finally, we commission your system.

From this point on, your pool pump runs completely for free. In fact, a pool is an ideal use for a solar pump, because a pool pump only needs to run during the day.

In other words, we can design the system so that enough water is pumped during daylight hours to keep the pool clean day and night. Thus the pump does not need to run when there is no sunlight to produce power.

If you want to use solar power for a pump that does need to run at night, such as your home water pump or a pump for a decorative

fountain, then upgrading to a solar pool pump becomes more complex and costly. In addition to all the steps and materials above, your system will require batteries to store power for use at night.

Further, your system will have to be somewhat oversized. Why? You do not want your plumbing to stop working. For example, if you have guests visit, and the pump has to run much more than normal, or if we have several cloudy days in winter, and much less power is available than normal, your solar system will still need to power your pump. Running pumps at night is not an ideal situation for small solar systems.

Of course, you can alleviate some of these issues by getting a solar pump that can connect to Bahamas Power & Light (BPL) for power sometimes, but paying BPL to run a solar pump is not ideal either.

If you want to upgrade to a solar pump, how can you recognise a quality one? In the Bahamas, you want a pump with non-corrodible materials used throughout.

Check whether any pump offered to you uses a DC brushless motor, as this is more efficient and designed to tie directly to solar power, saving you labour costs.

An automatic controller to monitor the system and pump speed should also be included. It will be a distinct advantage if your pump includes MPPT technology to maximise power from the solar panels. Finally, the old adage: ‘You get what you pay for’, certainly applies.

As with any solar system, you want to make sure you use a licensed professional who calculates your solar system’s energy with proper modelling software. After all, there is no point getting a solar pump if you get the wrong type of panels, the wrong number, or they are not configured correctly.

This is even more important if your are looking to use the sun to power your whole property. Solar-pow-

Joshua Key SUPERGREEN SOLUTIONS

ered electricity is a technical field. Be sure to work with quality specialists who know their stuff and calculate correctly.

How much money does a solar pump save you? A small 1 horse power (HP), regular pool pump can consume almost 14 kWh (kilowatt hours) per day. That works out to about $1,585 a year that a solar pump would save your on your electricity bill. A slightly larger 1.5HP pump would save you almost $2,000 per year. You save even more money if your pump is larger. It only takes a few years of those savings for your solar pool pump to pay for itself.

In our next article, we will discuss the second option for a solar pump upgrade.

In the meantime, if you are interested in saving on your electricity bill this summer, talk with your energy efficient products expert. They can help you choose a green solution that matches your budget and your unique situation.

• NB: Joshua Key is general manager for SuperGreen Solutions Bahamas, located on Wulff Road next to FYP. SuperGreen Solutions is one of the premier advisors, suppliers and installers of domestic and commercial energy efficient solutions.

THE TRIBUNE

Tuesday, May 30, 2017, PAGE 3

Govt urged: ‘Set tune’ on spending

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Chamber of Commerce’s chairman yesterday urged the Government to “set the right tune” on controlling public spending, acknowledging that it will be difficult to leave “monumental footprints” initially in terms of cuts.

Gowon Bowe told Tribune Business: “What they are going to have demon-

strate is their intent and proprieties. Between debt obligation payments, salaries and emoluments, and the standard running of government, there is a tremendous amount spent before sharpening the pencil.

“Those will have to be budgeted for in, say, the first six months. It’s going to be difficult to make monumental footprints in the initial period but they can set the tune.”

Mr Bowe added: “They can look to reductions in what would be called

luxury spending and cut those back. Let’s say they said that no government cars would be used on the weekends to cut back on fuel costs, or say that in terms of travel the entourage is going to really only be those persons that are truly necessary. These are observable actions which, while they may not lead to significant dollar reductions, they would set the tune.”

Finance Minister, K Peter Turnquest, recently told Tribune Business that the

Minnis administration would seek to hold spending “in line with the previous year as much as we can”.

The former government initially budgeted $2.544 billion in total spending for the 2016-2017 fiscal year, divided into $2.302 billion of recurrent expenditure and $242 million in capital works spending. It subsequently increased recurrent spending without explanation by $232.708 million in the mid-year Budget, taking that to $2.553 billion.

Mr Bowe told Tribune Business: “Their [the Government’s] task ahead is really to set spending priorities; what they have to allocate over the next six months, because they are committed, and what action needs to be taken to reduce those items going forward.

“It is an unreasonable expectation for the Government to be able to immediately cut spending.

They are just learning the lay of the land so to speak.”

Jamaican exporters target the Bahamas JAMAICA’S trade and investment promotions agency is bringing 18 exporters to the Bahamas on a June 30 trade mission.

The visit is part of JAMPRO’s wider strategy to develop Caribbean export markets for Jamaican companies, with visits also planned to Barbados and Trinidad and Tobago. The tour starts in the former on June 18, and finishes in the Bahamas.

The Caribbean Market Mission is part of JAMPRO’s export development programme, Export Max. The companies will have scheduled business meetings with buyers to promote their products, execute trade visits to key retail outlets, and have discussions with private and public sector partners to garner market intelligence.

Export Max II, a threeyear capacity building and market penetration support initiative, aims to increase the exports of participating Jamaican companies by 50 per cent.

Robert Scott, JAMPRO’s vice-president of export and market development, said the programme has already provided development services for the enrolled companies to improve their strategic planning, marketing, labelling and productivity.

He explained that the initiative is now turning to the market penetration phase with the Caribbean Mission.

“At the commencement of the Export Max programme, the participants highlighted the Caribbean region as a key target market of interest, as the people of this region share similar tastes and consumption patterns,” Mr Scott said.

“Based on our assessments and prior partnerships, Barbados, Trinidad and Tobago and the Bahamas will be the locations for companies to promote Brand Jamaica, and reap the benefit of their development for the past two years.

“We are looking forward to strengthening our Carib-

MILVERTON REYNOLDS CD, managing director, Development Bank of Jamaica (right), speaks to vice-president of export and market development, Robert Scott (left); Marlene Porter, manager, market development, agro processing and services (second left); and Tamar Nelson, senior productivity specialist – technical assistance services unit, Jamaica Productivity Centre, at the launch of JAMPRO’s Caribbean Market Mission.

PARTICIPANTS in the Caribbean Market Mission and the JAMPRO market development team pose for a photo at a display of products to be promoted in Barbados, Trinidad and Tobago and the Bahamas. The delegation will be starting their mission in June to promote Brand Jamaica across the Caribbean. bean partnerships, and will be working assiduously to ensure that companies learn about what is in demand in these markets. Our aim is to build relationships locally as we increase trade. I am pleased that with the support of our partners; we will make this initiative a reality and hopefully boost Caribbean trade.”

Mr Scott added: “Having visited the various markets, it is very clear that there is significant interest in doing business with Jamaican firms. In particular, Trini-

dadian firms are looking forward to the potential collaboration with Jamaicanowned businesses.”

Edison Sumner, the Bahamas Chamber of Commerce and Employers’ Confederation’s (BCCEC) chief executive, welcomed the mission as an opportunity to strengthen trade ties between Jamaica and this nation.

He said: “The Bahamas has strong trade ties with Jamaica, and continues to fortify the relationship by facilitating mutually profit-

able partnerships between exporters from both countries.

“Several times last year, the Chamber was engaged in missions to Jamaica to advance some of the relationships between the Bahamas and Jamaica; particularly in the areas of the establishment of standards and renewable energy.

“Having launched the Bahamas Trade Information Portal in April, a collaboration between the Chamber and the Ministry of Financial Services designed to link foreign importers to Bahamian exporters, we now welcome JAMPRO to Nassau and look forward to very active engagements between all those involved.”

The Caribbean Market Mission’s participating companies are Export Max enterprises Crimson Dawn Manufacturing Company; Dawson Trading Company; R & D Commercial Holdings (formerly EG Wellness Brands); Free Form Factory; Grace Agro-Processors (Division of GK Foods & Services); Jamaica Drip Irrigation; Tripple C Manufacturing; Very Amazing Products (VAP); Island Products Manufacturing Company; Boss Furniture Company; Carita Jamaica; Country House Products; Country Traders and JABEXCO

Limited - Best Dressed Foods. Manufacturers King Pepper Products; Southside Distributors and AG Chem Plant will also participate on select missions.

The Export Max pro-

GOWON BOWE gramme is executed in partnership with the Development Bank of Jamaica, The HEART Trust/NTA, Scotiabank and the Jamaica Productivity Centre. JAMPRO is an agency of the Jamaican government’s Ministry of Economic Growth and Job Creation.

NOTICE TO: LESTER EDGAR BURROWS & TONIA LATISKA BURROWS MITRE COURT LAW FIRM Suite 227, Island Lane Building, Olde Towne, Sandyport Nassau, The Bahamas 242-327-4150 Contact: Atty C. Hepburn

PAGE 4, Tuesday, May 30, 2017

THE TRIBUNE

Minister: $126m NHI funding ‘doesn’t exist’ From pg B1 revenues are commingled.

“The $126 million for NHI was not sequestered.

It was not set aside. It does not exist,” Dr Sands told Tribune Business. “While a commitment may have been made, those funds have not been placed in a separate fund that can be drawn down on.

“While there may have been a commitment to spend up to $126 million for NHI, the challenge for that administration, had they done it, and now this administration, is to identify a source of funds.”

When it came to the $26 million catastrophic care allocation, the Minister added: “I don’t believe a single dollar was spent in terms of therapy and care for the catastrophic component under the previous administration. Unless that was spent somewhere I’m unaware of, it was never funded.”

Dr Sands implied that the former administration’s failure to properly identify, and set aside separate funding for NHI, was especially

concerning when it came to accountability and transparency in managing the public finances.

With NHI’s primary care phase launched just prior to the general election, the scheme is effectively being financed on a ‘pay-as-yougo basis’ through the Government’s central financing pool, which makes it harder to control expenditure, plus eliminate waste, fraud and inefficiency.

The Christie administration’s last NHI consultants, the KPMG accounting firm, said in a report that “approximately $60 million in new government expenditure” would be required to finance the $100 million primary care phase.

With new or increased taxation ruled out as a funding source, the KPMG report implied that the previous government was using a portion of its ValueAdded Tax (VAT) windfall to finance NHI, with the $40 million balance coming from monies ‘re-allocated’ from the likes of the Ministry of Health and National Prescription Drug Plan

Bahamas moves to stop ‘devastating’ blacklisting From pg B1 The McKinney, Bancroft & Hughes senior partner told Tribune Business: “It is apparent from the statement issued today that the Government has indicated that the Bahamas is preparing to switch from a bilateral approach to a multilateral approach for the purpose of implementing the CRS. “This position was anticipated by many stakeholders in the industry, and would appear to demonstrate the Government’s commitment to avoiding any risk of blacklisting for the Bahamas. The decision is in line with other jurisdictions which had initially adopted the bilateral approach, and

to that extent it is not entirely surprising.”

Financial services sources, speaking on condition of anonymity, were more blunt in their analysis, telling Tribune Business that “the handwriting has been on the wall for some time” with regard to the Bahamas’ changed CRS approach.

A ‘blacklisting’ would have devastating reputational consequences for the Bahamas and its financial services industry, impeding its access to global financial services markets and raising business costs associated with greater due diligence and scrutiny.

With Hong Kong, Panama and the United Arab Emirates all choosing to

(NPDP).

Many observers will also interpret Dr Sands’ comments as further evidence of NHI’s rushed pre-election implementation, with the Christie administration viewing the scheme as a key element in its bid to return to office.

Critical parts of the NHI governance and healthcare delivery structure were not in place when NHI launched last month, including the proposed merger of the Public Hospitals Authority (PHA) and Department of Public Health into a Bahamas Health Services Authority.

Nor was the proposed doctor payment mechanism in place, with the NHI public insurer contract yet to be awarded, and no private insurers signed up to act as regulated health administrators (RHAs) under NHI. The NHI Authority has instead been paying physician providers directly.

Dr Sands, who was among the NHI scheme’s most vocal critics while in Opposition, told Tribune Business that the new government had yet to decide whether it will proceed with awarding the public insurer management contract to Aetna and its Bahamian partner, Family Guardian

(Bahama Health).

The duo were selected as the preferred bidder by the former government, but no contract was signed.

Dr Sands said: “There has been no specific decision made as it relates to the public insurer.

“Let me say that we are currently reviewing all of these proposals that are on the table, and we’ll make a determination as to what we’ll happen once we have a full assessment of the bigger picture.”

Dr Sands said the “bigger picture” was the 2017-2018 Budget that the Minnis administration will unveil in the House of Assembly tomorrow, with NHI and similar government-run programmes “feeding into that”.

“It’s more global picture and we’ll nail down the specifics as we go,” he explained.

Dr Sands said the new Government had little choice but to make NHI work, given the Bahamian people’s clear desire for universal health coverage (UHC).

“I think we’re up to just shy of 20,000 people who have enrolled,” he said.

“Bahamians have made it very clear they’d like to see the NHI programme con-

migrate from the bilateral to the multilateral approach, the Bahamas has been left isolated and exposed as the only international financial centre (IFC) of significance still adopting the former route to implementation of the CRS, the global standard for automatic tax information exchange.

As the ‘last man standing’, the OECD and its members last year targeted the Bahamas via an international media onslaught in a bid to force this nation to alter its CRS approach, with the bullying tactics ultimately proving successful.

“In my view, it is a prudent and appropriate step to protect the financial services industry in the Bahamas,” Mr Moree added of the Government’s action yesterday. “Presumably it

will be favourably received by the OECD. Hopefully they will now bring an end to the aggressive tactics and the pugnacious approach they have recently taken with regard to the Bahamas, and this will result in a more collaborative and cooperative approach going forward.”

The QC also acknowledged that the Government’s decision was effectively made for it, adding: “This appears to be a pragmatic decision given the realities of the options facing the Bahamas.

“It is important that the matter be resolved, and we quickly move to full implementation in order to meet the deadlines for reporting in 2018.”

The Bahamas has until September 2018 to meet its CRS commitments, and most in the financial services industry had prioritised avoiding any blacklisting as opposed to what was the better automatic tax information exchange implementation method.

The Bahamas previously agreed to implement the CRS via a bilateral approach that involved negotiating agreements on an individual country-by country basis.

However, the OECD and its developed country members have been steadily increasing the pressure on the Bahamas to switch to the ‘multilateral’ approach, requiring this country to negotiate tax deals with allcomers at once.

Given that it had previously approved the ‘bilateral’ route as an option for CRS implementation, the OECD knows it is open to charges of ‘hypocrisy’ and ‘goal-post moving’ if it simply demands the Bahamas goes multilateral.

Instead, its officials are

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tinue, function and have a positive outcome for the citizens of the Bahamas.

“That is the mandate, the charge my team intrinsically now has, so we’ve got to make it happen. How we will make that happen in the broader context of delivering healthcare in a system that already has UHC in place, the rubric is to make it better under NHI while avoiding some of the pitfalls of the previous approach.”

Asked to identify these “pitfalls”, Dr Sands said one was the lack of co-ordination under the former Christie administration, with no single Cabinet minister or ministry given clear, sole responsibility for the scheme.

“One of the challenges we spoke about was that there was no real ownership of the programme by any particular member of Cabinet,” he told Tribune Business. “Sometimes it was in the hands of the Minister of Health, sometimes it was in the hands of the Attorney General, sometimes it was in the hands of the Prime Minister, and sometimes it was in the hands of the Minister of Grand Bahama.

“Sometimes it was in the Ministry of Health, and sometimes it was in the

Prime Minister’s Office.

There were projects being run out of the PHA, Ministry of Works, NIB, the Office of the Prime Minister and so on.”

Dr Sands said there had also been “a significant reliance on external consultants” by the former Christie administration to the detriment of Bahamian healthcare professionals.

“Many of the local experts felt there opinions were not being considered or respected, and I think that was fatal or a telling flaw to the approach to NHI,” he added, “and there was an intentional lack of consideration for the views of many professionals across all aspects of healthcare delivery whose views were just dismissed.”

Dr Sands added that there was also “a disconnect” between the former government’s NHI promises and the scheme that ultimately emerged, and was launched, in April 2017.

“There was precious little similarity between what was rolled out and what was promised,” he told Tribune Business. “At this point, Bahamians are not interested in looking backwards.

We’re in office. They’re asking: What will NHI bring for Bahamians?”

DEPUTY PRIME MINISTER K PETER TURNQUEST arguing that the Bahamas has left it too late to use the bilateral approach to meet its automatic tax information exchange commitments by the September 2018 deadline.

OECD representatives have employed the analogy of a high-rise building to describe the Bahamas’ situation, saying that all other countries were taking the elevator to the top via the multilateral approach, and this country was the only one using the stairs.

Monica Bhatia, who leads the OECD’s Global Forum secretariat, said the Bahamas was perceived as “the last tax haven standing” and an “outlier” because it was the sole financial centre of any significance to persist with the bilateral approach to CRS implementation.

Mr Turnquest confirmed that the OECD’s position was that the Bahamas “doesn’t have enough time to meet our commitments” under the bilateral approach.

“We felt it would be in our best interests, being the last country to be attracted

to the bilateral route, to join the rest of the countries signing up to join the multilateral way,” he told Tribune Business.

The Ministry of Finance is the competent authority that will handle the automatic exchange of tax information, and Mr Turnquest said the Government had merely asked the OECD “to be invited to join” the multilateral convention.

“There are still mechanisms in place to do the bilateral, and there may be some reservations we may take with respect to the final agreement,” Mr Turnquest said.

The Ministry of Finance added of yesterday’s announcement: “This important development serves to emphasise, once again, the enduring commitment of the Government of the Bahamas and the banking sector to adhering to all international best practices, thereby assuring the continued participation of the Bahamas as a world-class financial services centre.”

THE TRIBUNE

Tuesday, May 30, 2017, PAGE 5

Union demands clarity over BTC ownership From pg B1 acquisition of Cable and Wireless Communications (CWC), BTC’s controlling shareholder, for $7.4 billion.

However, the company confirmed in recent filings with the US Securities & Exchange Commission

(SEC) that it has yet to receive all necessary regulatory approvals in the Bahamas.

That was also affirmed

by Khaalis Rolle, the former minister of state for investments, who said the Attorney General’s Office was still assessing sev-

Minister admits Fyre Fest conflict ‘doesn’t look good’ From pg B1 safety and sanitation at the University of the Bahamas, who also trains instructors to teach the Government’s food handling certification course. She appeared to have partnered in the Cater Fyre venture with Chef Aldred Saunders, the University’s assistant professor of baking and pastry.

The Cater Fyre saga raises questions over whether some officials were using their public positions for private advantage, and viewed Fyre Festival as a potential source of profits, especially after Mr D’Aguilar confirmed that the organisers sought the Ministry of Tourism’s advice on potential caterers.

He added, though, that there was no evidence that they had been directed to use Cater Fyre by Mrs Gibson, while the festival’s collapse into chaos meant the anticipated profits never materialised for the company’s principals.

“You’re absolutely right.

I don’t deny that,” Mr D’Aguilar responded, when questioned by Tribune Business about Cater Fyre and the potential ‘conflict of interest’. “I think what happened was that the Ministry was approached as to who can cater to this event.

“The Ministry suggested; senior officials in the organisation suggested, I think, four to five companies. Having been given the names of them, the organisers came

eral aspects of the Liberty Global transaction prior to the general election.

Mr Evans, meanwhile, slammed what he described as the increased outsourcing of jobs at BTC to thirdparty vendors and providers.

“We are about to enter negotiations on a new industrial agreement, and we are not going to allow the new principals to talk about competition and the erod-

ing of revenue,” he said.

“Prior to the sale in 2011, CWC had told the Government that in four to five years there would be competition, and so when they came in they were allowed to offload staff.

“The first wave was almost 600. Now there’s almost a skeleton crew, and they now have a new product on steam.”

Mr Evans added: “There is no doubt that these mul-

tinational companies have been trying to eliminate the relevance of unions and we’re going to be on our guard.

“The BCPOU is going to stand resolute and this is no threat. We have done our due diligence. We have seen the numbers and we knew what was coming down the pipeline. We are about to present our proposal to them in the coming days and we will await their counter proposal.”

BERNARD EVANS

back and said they’ve found someone. The senior officials then stepped back.

They were unaware there was a relationship between the caterer and the senior culinary official at the Ministry.”

The Minister admitted: “Obviously, that doesn’t look good but, at the end of the day, it’s up to the customer to make that selection. They gave the organisers the names of a number of companies, and if they decide to go with a relative of the culinary manager, it’s a free market and they made that decision.

“It’s not as if they don’t have a choice. We put them with a number of catering companies, and they decided to go with this person.

It’s coincidence that it was a relative of a Ministry of Tourism official, and that doesn’t look good.

“One could argue there’s

a conflict with a Ministry of Tourism official directing them to a relative, but ultimately the choice was the customer’s. It just happened to be coincidental.”

Denaldo Bain, a Bahamian chef, previously revealed that the Cater Fyre principals used their School of Hospitality contacts to recruit himself and around 50 others to the catering team for the ill-fated music festival, whose collapse has spawned multiple multimillion dollar lawsuits in the US. Mr Bain said he had been informed that the catering contract was worth $1.1 million, and described Mrs Gibson’s presence at the Exuma festival site as the event descended into chaos.

Asked whether he planned on taking disciplinary action, or requesting a further investigation, Mr D’Aguilar replied: “I don’t know what I’m going to do. I don’t know how that works.

“These people [the Fyre Festival organisers] came into this country are are seeking advice on who can cater to their event. They

were provided with options.

What I don’t know is if that official with the Ministry of Tourism gave the hard, hard sell to select these persons. That doesn’t look right, but I’ve not talked to the Fyre Festival people to find out.”

Fyre Festival, which was organised by hip hop artist, Ja Rule, and his technology entrepreneur buddy, William McFarland, has left a mountain of Bahamian debts in its wake following the debacle.

Among the unpaid Bahamian vendors and workers are Cater Fyre and its principals, and their entire team. Mr D’Aguilar suggested they had not profited from the event as planned, but added: “One needs to investigate how much business these persons ended up getting because of their position at the Ministry of Tourism. There’s definitely a conflict that we need to refute.

“In this instance, I feel fairly comfortable that the organisers were advised of other options, but they ultimately decided to go with the relative of the culinary

person. In this particular instance, I’m not terribly concerned. As a rule, you don’t want people in government ministries directing business to relatives without providing options, and I know they [Fyre Festival] were advised of options.”

Mr D’Aguilar also revealed that he had sought “a more detailed report” from Ministry of Tourism officials following Tribune Business’s revelations over the Fyre Festival catering contract and other developments relating to the debacle, which has left Bahamian small and medium-sized businesses and workers owed thousands of dollars.

This newspaper has also questioned whether the Ministry of Tourism’s approach and judgment towards Fyre Festival was clouded, and affected in any way, by some officials seeing it as an opportunity to make money.

Neither Mrs Gibson, nor Ms Williams and Chef Saunders, have responded to multiple Tribune Business phone and e-mail messages over the past week seeking comment.

PAGE 6, Tuesday, May 30, 2017

‘Tremendous progress’ on catastrophic care From pg B1 how you define the benefits of the programme, it can add phenomenal value to any given patient.”

Dr Sands further explained: “If you introduce any new programme, it’s effectiveness and reach depends on how one qualifies for that programme. It has to be fair and equitable.

Will it be all things to all people? I don’t think so.

“We have already made tremendous headway in

our approach that has buyin from a number of stakeholders. PPPs at discounted rates that take advantage of existing local capacity and expertise on the catastrophic healthcare side.”

Pointing out that he had provided cardiac surgical services for some 20 years, Dr Sands added: “We have learned a few lessons about our providing very expensive healthcare services at a fraction of the cost.”

THE TRIBUNE Dr Sands told Tribune Business that unlike the former Christie administration, the new government would seek the participation of all medical industry stakeholders in the design and implementation of a catastrophic health insurance programme, thereby ensuring private sector buy-in from the start.

He added that this was especially important given that the scheme would likely work through a PPP, and be the opposite of what many felt was “an almost hostile takeover of the healthcare industry” by the former government.

“I believe a number of

stakeholders across all sectors of healthcare recognise the intent and spirit of NHI,” Dr Sands said.

“Many have been insulted and called all sorts of names under the previous administration.

“I think that limited buyin, and the challenge is to get all their participation in advancing access to, and the quality of care, for as many Bahamians as possible, but at the same time making a durable contribution to capacity building in the Bahamas.

“What we ultimately hope to do is while we improve the quality of care for Bahamians, the investment

in the sector increases opportunity in the healthcare system,” he continued.

“You make a significant strengthening of the local healthcare system.

“It’s all well and good to say we spend $200 million to $300 million in Florida annually. We need to move away from that model and improve access, quality of services and quality of outcomes in the local healthcare system, whether public or private.”

Dr Sands added that senior Public Hospitals Authority (PHA) executives “understand and agree that there has to be significant improvement in the quality

of care at that institution [Princess Margaret Hospital], and are committed to making that happen.

“We have to identify a mechanism of funding and come up with a timetable and plan to make that happen.”

Having worked in the public sector himself, Dr Sands said he and his colleagues had suffered “many frustrations”, and an inability to do what was required through either “limitations of political will, funding and inertia”.

“Let’s see if we can make some of the headway we have spoken about today,” he told Tribune Business.

AS AMERICANS TAKE ON MORE DEBT, SOME POCKETS OF CONCERN Trump budget draws ire, concern from minority communities

By KEN SWEET Associated Press

NEW YORK (AP) — After a stint of frugality, Americans have returned to their borrowing ways.

But are they getting into the kinds of debt trouble that lead to recessions?

U.S. consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. That exceeds even the total before the last financial crisis.

Economists generally say people’s willingness to borrow is a good thing, because it shows they’re more confident about their financial futures. And the economy is in far better shape than a decade ago, when economists called the debt unsustainable and the housing market crashed. That’s not the concern now.

“Some of us are worried that consumers are going back into old habits, but the U.S. consumer is in a much

A PEDESTRIAN walks past credit card logos posted on a downtown storefront in Atlanta. After a stint of frugality, Americans have returned to their borrowing ways.

But are they getting into the kinds of debt trouble that lead to recessions? (AP Photo/David Goldman, File)

different position before the financial crisis and even before in the late 1990s,” said Ryan Sweet, an economist with Moody’s Analytics who is not related to the AP reporter.

Gone are the worries about second homes financed with no-money down mortgages. The stress points now are in three main categories: auto loans, credit

NOTICE REDSNAPPER HOLDINGS LTD.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Redsnapper Holdings Ltd., has been completed and the company has been struck from the Register on the 12th day of April, 2017.

Shareece E. Scott Liquidator

cards and — to a greater extent but for different reasons — student loans.

“If it’s not a tool you can use to build stability and long-term net worth, debt leads to more problems than it can solve,” said Todd Christensen, a credit counselor with the nonprofit organization Debt Reduction Services.

STUDENT LOANS Not all debt is considered equal, and both mortgages and student loans have typically been considered ways for people to leverage themselves into a better life. A home loan historically has been a way for middle-class Americans to build wealth, while student loans helped people get better-paying jobs.

Student loans have become a source of concern, though, as they become a greater proportion of the debt Americans owe — and those debts are not being paid back. In 2007, student loan debt was less than 5 percent of the debt Americans owned. That figure has more than doubled in 10 years to nearly 11 percent.

As college costs have risen and student loans get larger, the amounts that are delinquent have been increasing.

Americans currently have

$1.34 trillion in student loan debt, of which 10.98 percent is 90 or more days past due.

That’s up from 6.85 percent of loans 10 years ago.

“Student loans are a place to keep an eye on,” Sweet said as a potential long-term problem for the U.S. economy.

Delinquent student loans can hurt a person’s credit score, and affect the ability for a first-time buyer to qualify for a mortgage.

That could become a bigger problem as millennials enter their prime years to become a homeowner.

Dallas resident Taylor Green, 29, is using debt strategically. Green, who works in finance, recently opened a credit card to help him and his fiancé pay for their wedding. He hopes to use the points he earns from that to then help cover the cost of a trip to Europe.

“We both have good, stable jobs with decent security, so we are a more comfortable taking on the debt,” Green said. “But we want to pay this debt down as fast as we can once the wedding is over.”

Green says he also has significant student loan debt, which is in forbearance, that he plans to tackle aggressively once the wedding is over.

By JESSE J. HOLLAND Associated Press

WASHINGTON (AP) — Advocates for minority communities say President Donald Trump’s proposed budget answers the question he famously posed to black Americans during his campaign: “What the hell do you have to lose?”

His $4.1 trillion spending plan for the budget year beginning Oct. 1 generally makes deep cuts in safety net programs, including Medicaid, the Children’s Health Insurance Program and Social Security’s disability program.

“Here is the reality: Many poor black families and brown families and Asian families and indigenous families will be devastated by this budget,” said Bishop Dwayne Royster, founder of Philadelphia’s Living Water United Church of Christ.

The White House said its budget would put the country back on track for a healthy economy.

“We’re not going to measure compassion by the

amount of money that we spend, but by the number of people that we help,” White House budget director Mick Mulvaney said this past week.

Critics decry the priorities in Trump’s budget, which Congress is unlikely to pass as submitted. Still, it will serve as a guidepost for what the White House wants lawmakers to deliver to the president.

“It is an attack of unimaginable cruelty on the most vulnerable among us, the youngest, the oldest, the poorest, and hardworking people who need a little help to gain or hang on to a decent middle-class life,” Hillary Clinton said Friday.

Trump’s budget would slash Medicaid and the Children’s Health Insurance Program, which provide health insurance for millions of poor families, by $616 billion over the next decade. It would cut the food stamp program by $191 billion over the next decade and the Temporary Assistance for Needy Families program by $22 billion.

BUDGET Director Mick Mulvaney holds up a copy of President Donald Trump’s proposed fiscal 2018 federal budget as he speaks to members of the media in the Press Briefing Room of the White House in Washington. Advocates for minority communities say President Donald Trump’s budget proposal answers the question he famously posed to black Americans during his campaign: “What the hell do you have to lose?” (AP Photo/Andrew Harnik)

NOTICE ALDFORD INVESTMENTS MANAGEMENT LTD.

NOTICE MACGILL INVESTMENT HOLDING LTD.

NOTICE ALLTRAN ASSET MANAGEMENT LTD.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Aldford Investments Management Ltd., has been completed and the company has been struck from the Register on the 19th day of April, 2017.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of MACGILL Investment Holding Ltd., has been completed and the company has been struck from the Register on the 24th day of April, 2017.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Alltran Asset Management Ltd., has been completed and the company has been struck from the Register on the 19th day of April, 2017.

Shareece E. Scott Liquidator

Shareece E. Scott Liquidator

Shareece E. Scott Liquidator

NOTICE FANCYFIELD CORPORATION

NOTICE PEARLFIELD CORPORATION

NOTICE HARPFIELD ASSETS CORPORATION

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Fancyfield Corporation, has been completed and the company has been struck from the Register on the 26th day of April, 2017.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Pearlfield Corporation, has been completed and the company has been struck from the Register on the 26th day of April, 2017.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Harpfield Assets Corporation, has been completed and the company has been struck from the Register on the 26th day of April, 2017.

Shareece E. Scott Liquidator

Shareece E. Scott Liquidator

Shareece E. Scott Liquidator

THE TRIBUNE

Tuesday, May 30, 2017, PAGE 7

World shares muted as investors await raft of economic data

By KELVIN CHAN Associated Press HONG KONG (AP) — World stock markets were listless Monday as investors look to a raft of economic data this week and as holidays in several key markets crimped trading volume.

KEEPING SCORE: In Europe, France’s CAC 40 dipped 0.1 percent to close at 5,332.47, while Germany’s DAX edged up 0.2 percent to 12,628.95. Markets in Britain and the United states were closed for holidays.

GLOBAL OUTLOOK: A full slate of economic reports this week will give investors plenty to digest, beginning with eurozone business and consumer confidence readings on Tuesday. China’s latest official factory and service industry purchasing managers’ indexes, out Wednesday, will be among the most

watched, with analysts looking to see if the gauge indicates that manufacturing growth momentum slows further. The ISM index for U.S. manufacturing is due a day later. U.S. private and official payroll numbers are also scheduled for release.

They’ll give fresh clues on employment and hiring in the world’s No. 1 economy and could bolster Fed policymakers’ reasoning as they prepare to gradually raise interest rates again.

MARKET TALK: “Muted market action on Friday night, holidays in the U.K. and U.S. tonight and a data deluge starting tomorrow all militate against major market moves,” said Michael McCarthy, chief strategist at CMC Markets. “Investors and trader may hold out for important reads on the world’s largest economies this week.”

ASIA’S DAY: Stock indexes in the region drifted

between losses and gains.

Japan’s benchmark Nikkei 225 index ended a fraction lower at 19,682.57, and South Korea’s Kospi dipped 0.1 percent to 2,352.97. Hong Kong’s Hang Seng rose 0.2 percent to 25,701.63, while Australia’s S&P/ASX 200 lost 0.8 percent to 5,707.10.

Markets in mainland China and Taiwan were closed for holidays.

ENERGY: Oil futures extended a recovery from sharp losses last week.

Benchmark U.S. crude rose 44 cents to $50.24 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 90 cents on Friday. Brent crude, the international standard, gained 40 cents to $52.55 a barrel in London.

CURRENCIES: The dollar edged down to 111.28 yen from 111.32. The euro dipped to $1.1181 from $1.1185.

A MAN walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, yesterday. Stock markets in Asia were subdued in holiday-thinned trading Monday as investors hunkered down ahead of a raft of economic data later this week that will provide fresh insight into the world economy. (AP Photo/Vincent Yu)

Greece: Creditors must deliver on promise to lighten debt

By ELENA BECATOROS Associated Press ATHENS, Greece (AP) — Greece’s finance minister insisted Monday the country had met all its reform commitments, and said it was now up to international creditors to agree on how to make Greece’s debt sustainable and help the nation emerge from its financial crisis.

Minister Euclid Tsakalotos said Greece had pushed through all the required austerity measures, including pension and public administration reforms, and that it was up to the creditors — other eurozone countries and the International Monetary Fund — to deliver on promises to lighten the country’s debt load.

Greece is hoping for a deal during a June 15 eurozone finance ministers’ meeting in Luxembourg.

The main issue has been a disagreement between the eurozone and the IMF, which is not financially involved in Greece’s current three-year bailout program, regarding Greece’s debt.

“There is very little point

in entering a (bailout) program if the goal is not to leave the program. And leaving the program should be the responsibility not just of the debtor country but the creditor country as well,” Tsakalotos told journalists in Athens. “We’ve done our share of the deal, it’s up to our creditors and the IMF to do theirs.”

Germany and the Netherlands have indicated they will refuse to lend more money to Greece without the IMF’s participation, while the IMF says Greece’s debt must be sustainable in order for it to participate.

Athens says resolving the debt issue is crucial to its ability to attract investors and emerge from the financial crisis it has been struggling through since late 2009.

The IMF argues that the eurozone forecasts underpinning the Greek bailout are too optimistic and that the country needs debt restructuring so it can start growing on a sustainable basis. Greece has wallowed through an economic depression that’s seen its economy shrink by a quar-

ter and unemployment and poverty spiral.

The eurozone has ruled out any debt write-off for Greece, but has indicated that extending Greece’s repayment periods or reducing the interest rates on its loans are possible at the conclusion of the bailout next year.

Athens argues that the delays are now due entirely to disagreements between the IMF and the European creditors.

The finance minister said there were “no excuses for not getting this overall deal that the Greek economy so desperately needs in its efforts to access the markets and therefore to be able to leave the program as planned in the summer of 2018.”

MARKET REPORT MONDAY, 27 MAY 2017

BISX ALL SHARE INDEX: CLOSE 1,875.00 | CHG -1.03 | %CHG -0.05 | YTD -63.21 | YTD% -3.26 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.60 4.70 0.13 6.76 8.60 6.10 10.60 14.50 2.72 1.60 6.00 10.00 11.00 10.00 6.90 12.51 11.00

52WK LOW 3.30 17.43 8.19 3.50 1.64 0.12 3.80 8.35 5.70 9.00 10.50 2.18 1.31 5.80 7.55 8.56 7.25 6.35 11.92 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)

GREEK Finance Minister Euclid Tsakalotos speaks during a parliamentary session to vote more austerity measures as part of an agreement with international bailout creditors, in Athens.

Tsakalotos insisted yesterday that the country had met all its reform commitments, and that it was now up to international creditors to agree on how to make Greece’s debt sustainable and help the nation emerge from its financial crisis. (AP Photo/ Petros Giannakouris, File)

NOTICE

NOTICE is hereby given that TED MEUZE of Strachan’s Alley, 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 30th day of May, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that NOEL DAVID of Green Castle Eleuthera, 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 23rd day of May, 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

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

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

MUTUAL FUNDS 52WK HI 2.06 3.93 1.95 169.70 141.76 1.47 1.67 1.57 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 4.22 15.85 9.09 3.60 1.77 0.12 4.05 8.60 6.00 10.53 10.50 2.35 1.55 6.00 9.75 9.00 9.79 6.90 12.50 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 109.04 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.22 15.85 9.09 3.60 1.77 0.12 4.05 8.60 6.00 10.52 10.50 2.35 1.55 6.00 9.75 9.00 9.75 6.90 12.50 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 -0.04 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 1.01

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

109.05 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

3,650

7,700

VOLUME

25

NAV 2.06 3.93 1.95 168.44 141.76 1.47 1.64 1.56 1.04 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 145.5 15.8 N/M 21.2 N/M N/M -135.0 14.2 14.0 23.4 95.5 23.0 19.4 20.0 18.8 9.4 11.9 23.5 20.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

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% 1.57% 4.52% 0.39% 2.75% 0.77% 2.51% 3.95% 3.95% 6.77% 6.77% 0.40% 4.04% -1.76% 1.06% -0.34% 2.70% -0.95% 1.55% 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 30-Apr-2017 30-Apr-2017 30-Apr-2017 31-Dec-2016 31-Dec-2016 31-Jan-2017 31-Jan-2017 31-Jan-2017 31-Jan-2017 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016

MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD 1.90% 6.31% 0.00% 5.83% 0.00% 0.00% 2.22% 3.49% 3.67% 3.42% 4.67% 2.55% 3.87% 4.00% 4.10% 0.00% 3.38% 2.03% 5.12% 0.00%

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

PAGE 8, Tuesday, May 30, 2017

NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Vineland Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Cranbrook Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

THE TRIBUNE

Eurozone’s top banker: stimulus needed despite higher growth

PRESIDENT of the European Central Bank Mario Draghi attends a news conference in Frankfurt, Germany.

The head of the European Central Bank says while the economy of the 19-nation eurozone is improving, it still needs substantial stimulus. (AP Photo/Michael Probst, file)

BRUSSELS (AP) — The head of the European Central Bank says while the economy of the 19-nation eurozone is improving, it still needs substantial stimulus.

At a parliamentary hearing Monday in Brussels, Mario Draghi said “the economic upswing is becoming increasingly solid and continues to broaden across sectors and countries.”

However, he says, wages are not growing enough to push inflation back up to healthy levels.

Draghi says “overall, we remain firmly convinced that an extraordinary amount of monetary support ... is still necessary.”

The ECB is pumping 60 billion euros ($67 billion) a month into the eurozone economy to support lending and growth.

Whether it signals a tapering off in that program will be the focus of its next meeting on June 8.

NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Norristown Enterprises Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Hershey Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Miles Evans and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Miles Evans and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Miles Evans and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

NOTICE

NOTICE

NOTICE

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Summerland Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Dillon Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

NOTICE

NOTICE

NOTICE

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Tacoma Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Rockland Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Miles Evans and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Mile Evans and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

NOTICE

NOTICE

NOTICE

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Tasco NF Holdings Ltd has been dissolved and has been struck from the Register with effect from 3rd May, 2017.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Goldsboro Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that TASCO HOLDINGS LTD. has been dissolved and has been struck from the Register with effect from 3rd May, 2017.

Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Lorna Kemp and Roman Knowles LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Westbrook Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Spanaway Ventures Limited has been dissolved and has been struck from the Register with effect from 31st March, 2017.

THE TRIBUNE

Tuesday, May 30, 2017, PAGE 9

B O DY A N D M I N D

‘PIES For A Pie’ was launched by like-minded women.

KEITHRA MORLEY, a mother, wife and entrepreneur, is battling an autoimmune disease.

IYANDA HILTON, 12, suffers with sickle-cell anaemia.

‘PIES FOR A PIE’ TO ASSIST WOMEN AND GIRLS IN NEED

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net

BAHAMIAN author Ghandi Thompson is on a mission to raise $10,000 for two people who are struggling to cover the costs associated with treatments of life-threatening medical conditions.

Ms Thompson has always enjoyed helping those in need, and with the launch of her new campaign, “Pies

For A Pie”, she hopes to make a real difference in the lives of Bahamians.

The campaign was created to assist girls and women in various aspects of their lives. Each year, a committee will select two recipients. The ongoing effort will include the sale of Little Debbie pies at the cost of $2 per pie, or $15 per box, as well as the sale of campaign pins. There will also be the promotion and a host of activities such as a movie night, a girls’

night out and a gospel concert.

“I had this concept for a while but just procrastinated. I eventually shared my thoughts with a few friends and they kept following up with me. I finally decided to connect with like-minded females to accompany me on this journey, and we met, discussed and then launched the campaign.

While the task at hand is great, it’s not impossible.

We are asking the wider community to connect and partner with us to help

others in need,” said Ms Thompson.

The recipients of this year’s campaign are 12-year-old Iyanda Hilton, a student of the Queen’s College who has sickle-cell anaemia, and Keithra Morley, a mother, wife and entrepreneur who suffers from an autoimmune disease.

“Iyanda recently had a bone marrow transplant and is in need of assistance for ancillary charges outside of the scope of her insurance policy, particularly her after-care. Also, since

Keithra’s diagnosis, doctors have ruled out lupus and are on a quest to determine which autoimmune disease has now affected her liver. Due to a barrage of tests, both locally and internationally, she has accumulated exorbitant medical bills which her family is unable to defray without financial intervention. The goal of this campaign is to raise $10,000 to assist,” Ms Thompson told Tribune Health.

She believes life has a way of humbling you, and while

COOLING down after the fun walk

RUNNERS finish strong

WARM-up session

CUSTOMERS get health screenings

you may be up one day, you can be down the next. If each person does a little, together they can do a lot, she said.

“We just never know what will come our way, and when we combine our efforts for a common goal, the impact can be much greater.

This initiative allows Bahamians to assist two different females on a yearly basis that have a need. It is merely a way to give back or pay it forward,” said Ms Thompson.

SOLOMON’S FRESH MARKET HOLDS SECOND FUN WALK AND HEALTH FAIR FOR the second annual Solomon’s Fresh Market Fun Walk & Health Fair vendors showcased products and services geared towards living a healthier lifestyle at the store’s Old Fort Bay location.

The event kicked off with a three-mile fun walk with more than 100 persons taking to the streets, walking from the store’s parking lot to Lyford Cay and back.

Proceeds from the walk will be donated to the Cancer Society of the Bahamas to assist with the group’s ongoing projects.

That same day, more than 250 shoppers took part in a health fair featuring booths with organic teas, massage therapy, nutritious meal preparation tips, fitness trainers, as well as information from non-profit support groups. Blood pressure checks, weigh-ins and glucose screenings were also provided by Doctors Hospital and the Bahamas Medical Centre.

“This is our second year hosting the fun walk and

Proceeds donated to Cancer Society health fair and the participation continues to grow,” said event organiser and Solomon’s brand manager, Naomi Grant.

“Our goal is to use opportunities like this to educate the community on the importance of making healthy living a priority.

Through the event, we are able to showcase vendors with products and services to support nutritious diets, forming proper sleep habits and incorporating exercise into busy schedules. We were also able to showcase our range of health and organic food options through in-store sampling.”

Renea Bastian, vice president of Marketing and Communications at AML Foods, parent company of Solomon’s Fresh Market, thanked event partners for cosponsoring the health fair and vendors for showcasing their products.

“It’s important for Solomon’s Fresh Market to continue to host events that focus on enhancing the lives of the persons who support our brand. We are also mindful that, as a company, we can help specific causes in their quest to raise awareness and gain financial support. It is with this in mind that we will donate the $1,500 proceeds from the fun walk, to the Cancer Society of he Bahamas.”

Exhibitors included Doctors Hospital, Yoga 4 Da Soul, Club One Fitness Centre, Woolf Fitness, Jemi Health & Wellness, Cancer Society of the Bahamas, Sister Sister Breast Cancer Support Group, Lupus 242, REACH Bahamas, Bahamas AIDS Foundation, Sleep Bahamas, Sha King, Me Moments, Naturally Bahamian, Corner Stone Healing Institute, and Platinum Spa Boutique.

THE AML team gets in on the fun.

PAGE 10, Tuesday, May 30, 2017

THE TRIBUNE

Blaming the boys WHY are these boys behaving so badly? What’s wrong with our boys? What is the problem with the young men in our community? What happen to these boys?

Over the last few days especially, these are questions that have been raised on the radio and television waves in the country.

Radio hosts bash the boys for not behaving well. Some folks get on and say that these boys are the problem. It therefore seems necessary to try to focus on what is really wrong. It’s not the boys at all, it’s the whole group that is misbehaving.

Given the last few violent altercations that have left young men dead in extremely public ways, it is hardly surprising that people feel they should speak out. This is especially true for radio hosts who slam boys, laugh, and then come back and slam boys again.

‘Dese young men’ are a problem, according to radio hosts and many of their call-in commentators and their on-show guests.

We are, however, missing the real message with all these violent altercations. We must begin to pull our heads out of the sand and look around us; start to take stock of the social chaos around and how our societies, or communities, however we wish to refer to them, are falling apart.

We do not look at the failing systems in our societies when we blame the boys for what they have learned as expected behaviour of them. We also do not look at how our neighbourhoods are falling into disrepair because the economic health of the nation has deteriorated massively over the last few years.

Once squarely middle-class areas that boasted about being built on club-like models, a little like Coral Gables in South Florida for example, have lost many of their economic drivers because they have left and/or moved to brighter areas. Or the older people no longer earn that kind of money as they are now retired and no one has planned for retirement and so they can no longer afford to keep up their homes as they once did.

Even those oftentimes sorely criticised Over-the-Hill communities that were strong neighbourhoods in the 1950s and into the

Dr Ian Bethell-Bennett 70s and even 80s have become shells of what they once were.

Many people moved up and out.

Although they may still own land in the ‘inner-city’, they disassociate themselves from it, except to collect rent. Others deride the poverty, violence, vagrancy and crime in that area. Yet no one talks about this, nor do we relate this deterioration to how bad the boys are. Why do we often see boys behaving badly?

We teach boys how to behave Gender, as has been demonstrated in this column multiple times, is a social construct. So it depends on the society to determine the rules for gendered behaviour. Men and women are held to these socially condoned and socially programmed roles.

We in the Bahamas today insist that women be submissive and nurturing, even though many women are not either of these.

We insist, too, that men express no emotion other than anger or violence – that last not being an emotion, and the former many people do not think of as being an emotion.

A man expressing kindness is frowned upon, but a man dissing another man is welcomed. In fact, it is encouraged. When we teach children to play with toys, one often sees men telling their boys not to play with purple or light blue toys because those are for girls.

That is one of our cultural hang ups. Colours seem to hold messages of gender that should be avoided and we then programme these messages into the children.

Further, we teach boys how to be violent. We also teach them that

it is masculine to be violent.

On another note, we insist that boys see themselves as the providers for the family. We as a social group argue that men should not move into their wives’ homes, but instead should provide a home for their wives.

How does this really work when so many young men cannot support themselves? How does this work when so many families do not teach boys how to be responsible for anything other than their own joy and gratification?

We say that they must be the male provider, but we do not teach them how to do that, so we set them up to fail. Research has shown this repeatedly. Programmes and studies that work with young males to improve their self-image and to foster socially responsibility have been

claim they are being victimised when they are demoted or sent to another area, or simply relieved of their position. Interestingly, these are the same people we as a culture have made to understand that they deserve the best in life and they must be paid handsomely for minimum wage jobs, even if they can’t do the job they gained through political favours. This political system of favours and nepotism creates dysfunction and eventually leads to non-function.

When we create young men who understand that they must be paid top dollar for the most basic level job, and that they deserve all the finer things in life because ‘dey is man’, then we create a serious socio-economic and socio-cultural problem. We are not providing them with the skills to do much else, yet we create in

“A man expressing kindness is frowned upon, but a man dissing another man is welcomed. In fact, it is encouraged.” run locally as well as internationally, yet government has not chosen to implement them on a longterm basis or to use their results.

We repeatedly shelve studies that tell us exactly what the problems are and how to deal with them, then, when government changes or a new person comes on board, we recommission the same study with a different group and wait for the results.

We already know the results and what the strategies are to achieve the desired outcomes.

However, it is hardly surprising given that so few people in government offices can really function at the level they are supposed to work at. Along with our crumbling social structures and decaying inter-personal relationship skills, the majority of people can no longer function in a professional arena. Many cannot read or write beyond a ninth grade level, if that, and the huge majority cannot speak to people in a professional fashion. Ironically, these are usually the people who

them the expectation big money and respect.

Male role models These are usually missing in many communities with large numbers of young men who need someone to positively influence their self-image. They see around them many men who are cash rich and can go to the barroom and walk around with a drink all day, but produce little other than babies.

These images coupled with the local drug dealer further destroy the social fabric, yet few people ever challenge this continuity.

Moreover, the seriously damaged and socially destructive stereotypes provided by history for black males and black male behaviour have been so completely embraced in the Bahamas that we can no longer see beyond these and we think of them as positive.

When a man is nothing other than a stud to propagate the ‘master’s’ workforce, we have se-

rious social problems. Here again few people really work to undo these stereotypes. In fact, they often use these to perpetuate the same behaviour. These role models and stereotypes have worked to do little more than create dysfunction. Men who can only see themselves as sperm donors and happy-go lucky high riders, who crash and burn by the time they are in their early 30s, if they live that long, have become the national norm. Yet when young men take up arms in a system that has used violence to exclude them at every level, a society where the structure is violently opposed to their success, where if you as a black man are educated you are no longer masculine, we have created the system that will continue to create violent criminals who when shot down by the police while participating in crime, their family will defend them as good boys. Worse, the example set by parents who go to schools to shame the teacher for disciplining their ‘good chil’ is a definite contributor to lawless behaviour.

Beating up the teacher is nothing less than glorified violence, undermining authority and teaching our children to disregard and disrespect authority.

Our social fabric is unravelling, and government has done a great job in working to assist in its unravelling. Yet we can decide now that we want to change the direction we see ourselves heading in.

There are many groups and programmes like MenEngage, CariMan, Promundo, that provide initiatives to work with young men, but we have to be willing to change our systems and social programming in order for our communities to begin to thrive again through means that are not illicit.

There are too many success stories of men who have earned respect through illicit means for uneducated or minimally educated black men, whom the system has worked to exclude and marginalise, for things to change right now. There is, however, always potential for change.

• Comments, questions and suggestions to bethellbennett@gmail. com

Sleep deprivation may lead to brain ‘eating itself’ Possible link to Alzheimer’s disease Sleeping replenishes our energy levels, but it goes far beyond that.

Our brains change states when we sleep, clearing away toxic byproducts of neural activity left over from the day.

But in brains that are chronically sleep deprived, the ‘cleansing’ process overcompensates.

Researchers have found that sustained poor sleep causes the brain to clear a significant number of neurons and synaptic connections. And the damage may be irreversible during recovering sleep.

A team led by neuroscientist Michele Bellesi from the Marche Polytechnic University in Italy carried out the research. They examined the mammalian brain’s response to poor sleeping habits and found a similarity between well-rested and sleepless mice.

The neurons in your brain are being continually refreshed by

Bettyjoe Cooper two different types of glial cell.

These are support cells, a sort of ‘glue’ for the nervous system.

Microglial cells clear out old and worn cells in a process called phagocytosis (derived from the Greek meaning “to devour”). Astrocytes prune unnecessary synapses (connections) in the brain to reshape its wiring and keep it refreshed.

It is already understood that this process occurs during sleep to clear away the neurological wear

and tear of the day. But now it appears that the same thing happens when we start to lose sleep.

It’s akin to having your garbage collected whilst you’re asleep, versus them coming into the house after several sleepless nights and throwing out your valuables as well.

“We show for the first time that portions of synapses are literally eaten by astrocytes because of sleep loss,” Bellesi reported.

The researchers imaged the brains of four groups of mice: • One group was left to sleep for six to eight hours (well-rested) • Another had their sleep interrupted periodically (spontaneously awake) • A third group was kept awake for an extra eight hours (sleepdeprived) • And a final group was kept awake for five days straight (chronically sleep-deprived) Astrocytes were present in 5.7 per cent of the synapses in the brains of the well-rested group, and 7.3 per cent in the spontaneously awake group.

However, in the other two sleep deprived groups, they noticed

something different: The astrocytes showed increased activity and were eating parts of the synapses, like the microglial cells eat waste. This process is astrocytic phagocytosis.

Astrocytes were active across 8.4 per cent of the synapses in the brains of the sleep-deprived group. In the chronically sleepdeprived group, 13.5 per cent of their synapses showed astrocyte activity.

As Bellesi reported, most of the synapses that were getting eaten in the two groups of sleepdeprived mice were the largest ones, which tend to be the oldest and most heavily used - “like old pieces of furniture” - which is probably a good thing.

Unconstrained microglial activity has been linked to brain diseases like Alzheimer’s and other forms of neurodegeneration.

“We find that astrocytic phagocytosis, mainly of presynaptic elements in large synapses, occurs after both acute and chronic sleep loss, but not after spontaneous wake, suggesting that it may promote the housekeeping and recycling of worn components of

heavily used, strong synapses,” the researchers report.

“By contrast, only chronic sleep loss activates microglia cells and promotes their phagocytic activity ... suggesting that extended sleep disruption may prime microglia and perhaps predispose the brain to other forms of insult.”

Further research is required to determine if the process is replicated in the human brain, or if the effects are reversible by catching up on sleep.

Alzheimer’s deaths have increased by an astonishing 50 per cent since 1999, according to the US Centre for Disease Control (CDC). In part, this is due to the number of older adults. But given that many of us increasingly struggle to get a good night’s sleep, this potential link to Alzheimer’s should be a priority area of study.

The research is published in the Journal of Neuroscience.

• Bettyjoe Cooper is an author and founder of Brand New Mattress Co. For more useful information and sleep tips, check out the blog at www.brandnewmattress.com.

THE EYES HAVE IT: FOUR THINGS YOUR EYES MAY COMMUNICATE WITHOUT YOU KNOWING IT (BPT) - Your eyes: you stare with them, wink with them and roll them. You use your eyes to communicate your thoughts and feelings every single day.

Whether you’re aware of it or not, your eyes can speak volumes about who you are and what you feel. But could your eyes be sending the wrong message?

New findings from Allergan’s “A Look at Eye Language” online survey of 1,019 adult Americans reveal that approximately half of respondents (53 per cent) say the first facial feature they notice about another person is their eyes.

Patti Wood, a body language expert with over 25 years of experience in the field of human behaviour, says our eyes can convey all sorts of messages - both intentionally and unintentionally.

“Eye language is the messages we send to others with our eyes,” Ms Wood says. “These eye behav-

iours include rubbing the eyes, extended eye contact, averted gaze or eye shifts.

Our eye language can say a lot about us, revealing our emotions, confidence level and, at times, even if we’re telling the truth.”

Curious what your eyes are telling other people?

Ms Wood provides four eye language examples.

• Eye contact: Too much of a good thing. You’re

taught early on to look at someone when they’re talking to you; it’s a sign of respect and shows you’re listening. In fact, the survey, conducted in conjunction with Kelton Global, revealed that for those who see the value in maintaining eye contact, holding a direct gaze makes them feel respected (53 per cent) and understood (45 per cent). However, Ms Wood

says if your gaze becomes a continuous, unrelenting stare throughout an entire conversation, it may signal to the other person that you’re trying to assert your dominance. This can be problematic in many situations, particularly in the workplace, so make sure you’re being attentive but not overly aggressive with your eye contact.

• Certain conditions can alter your eye contact.

Sometimes, you send messages with your eyes without realizing it. For example, chronic dry eye disease symptoms, like red, itching, burning or watering eyes, can send the wrong message - one you don’t intend. It’s important to understand the messages your eye language might be sending to others. Talk to your doctor or visit Eyepowerment.com to learn more about the symptoms and treatment options for chronic dry eye.

• Liars look away? Not al-

ways. You’ve heard the old saying that a person who looks away is lying. But in many cases, that isn’t true.

Research shows the eye contact you make while lying is partially determined by your personality. Ms Wood says that introverts tend to have more trouble maintaining eye contact while lying, whereas extroverts may go over the top and increase eye contact while lying more so than they would otherwise. Additionally, Ms Wood shares that an action like rubbing your eyes can convey a lack of interest, fatigue, disagreement or disbelief in the speaker - or even deceit.

• The amount of eye contact you display can show how you feel about things.

Research shows that eye contact can demonstrate attraction or attentiveness.

You actually make more eye contact with people and things you like and less eye contact with people or things you don’t like. Ms

Wood notes that our eye language makes us look at things that are new or interesting, especially faces, or look away from things that we find distasteful. So if you’re curious about how a certain person feels about you, pay attention to how much they look at you.

When it comes to nonverbal communication, your eyes are one of the most expressive parts of your body, even if don’t realise it. In fact, Ms Wood says that research shows we can read not only the six basic emotions - sadness, disgust, anger, joy, fear and surprise - but also over 50 different mental states such as curiosity, interest, dislike or boredom, in another person’s eyes.

That’s why it’s important to pay attention to your eye language. Certain conditions, such as chronic dry eye disease, have symptoms that may be sending the wrong message - one you don’t intend.

THE TRIBUNE

Tuesday, May 30, 2017, PAGE 11

Jewellery lovers treated to special happy hour celebration

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net

F

ANS of everything that sparkles and shines got to enjoy a special Friday night happy hour as the Pandora store at #329 Bay Street recently celebrated its two-year anniversary Under the theme “Petals & Pumps”, guests were invited to enjoy champagne, sweet treats and a Pandora gift with a purchase of $125 or more, while supplies lasted. They also had the opportunity to enter a raffle for a chance to win a Pandora Rose set.

“We just want to give back something to our customers, and the community out there as well, to show them that we want to give them a good time. Every single year we want to have a theme and last year it was ‘Bubbles and Bangles’,” said store manager Allison Evans.

“This year the petals signify a rose from our Pandora Rose collection, which is a collection that is coming with bigger and better and more beautiful items. ‘Pumps’ is just to make it fun and we are also going to have a new stiletto charm in our product lineup with a red sole.”

Pandora is an international Danish jewellery manufacturer and retailer founded in 1982. It is known for its customisable charm bracelets.

Ms Evans said that while everyone traditionally thinks ‘charms’ when they hear Pandora, the brand has much more to offer.

For example, rings and earrings are now a big part of the collection and they are also customisable.

“Also, it was traditional-

ly a silver jewellery line and now we have the Pandora rose gold as well,” she said.

“For us, what we really try to focus on is penetrating our local market and serving our local market.

We are on Bay Street so we definitely have the cruise ship business, but for us the focus has always been on our local business.”

Ms Evans said she is delighted to know that the team at the Pandora store has developed such a close

relationship with its customers, to the point where patrons have become a part of the Pandora family.

“We have developed relationships where we know their birthdays, anniversaries, and we really value having that extended family. In today’s market people have a choice of where they want to shop and how they can spend their money. And in a digital world people can easily click (to buy) from their homes.

When you come in and have a fantastic shopping experience with your Pandora representative and you feel like this person understands and knows what it is you are looking for, I think you really can’t put a price on that. With ‘Petals & Pumps’ we want to just show our customers how much we appreciate and value them and want to say thank you for allowing us to service them,” said Ms Evans.

Building resilience Part II

Taking step one RESILIENCE matters. So much so that some readers asked for a little more clarity around the process of getting started. This part two is designed to motivate you to step into building your resilience.

Begin with the understanding that life is a process. Everything that grows changes and/or evolves must endure a process. This includes us as human beings. Like it or not, there is a process and it must be respected. Building your resilience is no exception. It, too, is a process and it demands your full attention.

Let’s clarify the meaning of resilience. Authors Mary Karapetian Alvord and Judy Johnson Grados broadly define it as “those skills, attributes and abilities that enable individuals to adapt to hardships, difficulties, and challenges”.

In many instances a resilient individual is seen as one who has strong coping skills; finding resourceful ways to manage their lives even in the face of adversity.

The question is, how do you acquire such skills? Well, life happens now. And at any moment you could find yourself face to face with some incredible challenge. It is in those moments that you must take a position. There is

Michelle Miller Motivationals

Michelle M Miller the choice to either become overwhelmed or to find the fortitude to stand your ground.

The decision you make depends on not only what you have been through, but even more so, what you have learned from what you been through. This is why our life experiences have incredible value. There is no point in going through ‘hell’ as it were only to come out on the other side with nothing learned.

No, resilience is not something you can buy or borrow. It must be built brick by brick. Much of the essence of our resilience begins

in our early development. The dynamics of how we are raised lays those initial building blocks.

From the way we fall down and get up, to the way we interact socially, these are all core components of our early resilience development.

This is where our parentage, home and school environments have the strongest influence on our ‘bounce back’ ability. On the one hand, some parents’ overprotectiveness, while well intended, inadvertently hinders their children from building resilience.

Then on the other hand, some children are left so unprotected that they are forced to grow up themselves.

While neither of these extremes are best option, there is incredible value in allowing children to learn how to fall down and get up for themselves. Learning how to recover from those early falls gives us buoyancy when facing life’s challenges later on.

Observing my own journey through my early years, my mother was the most resilient person I know. She faced her early life challenges head on. Somehow, she never seemed afraid; raising seven children as a single parent, always finding a way to figure things out and make things work.

As her eldest child, I was the ben-

eficiary of much of her modelling her resilience.

And notwithstanding the enormity of my early challenges, those early lessons gave me incredible ‘bounce back’ ability. Like my mother, I too began to master the art of figuring things out. Taking responsibility, trusting myself and bravely facing my fears were some powerful life lessons learned.

Perhaps you haven’t had opportunity to face any early challenges. Thus, your resilience-building process may involve some other dynamics. Be willing to start where you are. You cannot fix what you are unwilling to face.

For this reason, I believe that the step one is about taking personal responsibility for yourself, your life.

No matter what happened or is happening, by taking responsibility you empower yourself to better deal with it. This doesn’t mean you won’t go through unpleasant emotions or that things will just immediately improve. It means that you can develop a better way of dealing with things. By accepting personal responsibility you stand in a more powerful position than that of blaming. You become less quick to react and more prone to respond with some forethought. The calmer you are, the

more likely you can find solutions and the less stress you endure.

Also recognise that building resilience is not a-one-size-fitsall process. We are each wired a certain way. Our individual sense of resilience therefore depends on a number of internal and external factors. Ultimately, what’s most important here is for you to ignite the process by assessing your coping mechanism.

Leader to leader, step into step one by taking responsibility for how you are dealing with stuff.

We often can’t control what happens, but we can control how we respond. This is what bolsters resilience and cements your sense of confidence to more readily rebound from disappointments.

If you are willing to step into step one, you are more likely to take step two. It takes resilience and a strong sense of self to live an empowered life. Yes, you can do it!

What do you think? Please send your comments to coaching242@ yahoo.com 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.

SECTION B

TUESDAY, MAY 30, 2017

WAYNISHA Sha’Dea Saunders is the new Miss Teen Bahamas

C V Bethel student crowned

Miss Teen Bahamas

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

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FTER weeks of engaging in intensive training sessions and personal development activities, 16-year-old Waynisha Sha’Dea Saunders was crowned the new Miss Teen Bahamas on Sunday night.

The 11th grade C V Bethel Senior High School student won the judges over with her poise, intellect and charisma during the pageant finale held at the British Colonial Hilton.

Twenty young women vied for the coveted title of Miss Teen Bahamas, however, it was Waynisha who walked away with the grand prize, which includes a $90,000 scholarship package to attend Liberty University in Virginia.

The first runner-up and second runner-up received $30,000 and $22,000 scholarship packages respectively. All other contestants who completed the pageant programme each received a $18,000 scholarship package.

A key part of the Miss Teen Bahamas pageant experience is its enrichment programme. It is comprised of workshops on interview techniques, public speaking, self-defence, financial management, film production, modelling and makeup application.

Additionally, the contestants all must have good grades, be community service-minded and be able to passionately articulate a platform cause. The enrichment programme’s

overarching objective is to prepare participants for university.

The pageant organisation has recently undergone a rebranding exercise and name change. It is now officially called the Miss Teen Bahamas Scholarship Programme, in keeping with the organisation’s mission to prepare young women for productive careers and identify future leaders of the Bahamas.

Anthony Smith, president of the organisation, emphasised that Miss Teen Bahamas is not a beauty pageant, but rather focuses on personal development for young women.

“I honour the judges’ decision because they un-

past few weeks are winners in their own right.

“It was a tough competition, but Waynisha is a great choice. She has always been a hard-working young woman. All of the young ladies were talented and they all got something, but at the end of the day we have to narrow it down to one person,” he said.

The accredited Liberty University, which the Miss Teen organisation decided to partner with, is located in the picturesque Lynchburg, Virginia. It offers students a world-class education with a solid Christian foundation. Liberty has grown to become the United States’ fifth largest university and the world’s largest Chris-

“It was a tough competition, but Waynisha is a great choice. She has always been a hard-working young woman. All of the young ladies were talented and they all got something, but at the end of the day we have to narrow it down to one person.” derstand the concept of the Miss Teen Bahamas. They know that it is not a beauty pageant. When selecting the winner there are several things that are taken into consideration – their grades and how well they can articulate their platform – because at the end of the day the winner has to be spokesperson not just for the organisation but for Liberty University as well,” he said.

Mr Smith said while there could only be one winner, all of the young women who participated throughout the

tian university.

After the winning the title in 2014, Ariannah Wells-Bain is expected to matriculate at Liberty University this Fall. A former contestant from the 2016 pageant, Ianna Cartwright, made full use of her $18,000 scholarship prize package and is now majoring in Sign Language and Special Needs Children Care at the university.

As for Waynisha, she has another year of high school left before she has to make a decision regarding her tertiary education.

THE MISS Teen finalists show off their costumes and evening gowns.

Photos/TERREL W CAREY