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TUESDAY, JUNE 11, 2019

$4.90 Budget under the microscope

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE Financial Voice forum will present a panel of experts tomorrow to examine and offer perspectives on key aspects of the 2019/2020 budget.

The event will take place at the University of The Bahamas’ Harry C Moore Library and Information Centre, under the theme “The 2019/2020 Budget: Road to Recovery or Ruination?” The free event starts at 8pm and is open to the general public.

Hosted by financial consultant Karlos Mackey, the 90-minute to two-hour programme takes place before an on-site audience and will be aired live on OUR TV, Channel 212.

Speaking to a budget which government has termed a continuation of their strategy to bring great efficiency, productivity and accountability to the nation’s fiscal programme will be Marcellus Taylor, PhD, Director of Education, Ministry of Education, Science and Technology; Khrystle Rutherford-Ferguson, Vice Chairman, Bahamas Chamber of Commerce; Gowon Bowe, Immediate Past President, BICA; Dr Marcus Cooper, President, Medical Association Of The Bahamas and Christel Sands-Feaste, Partner, Higgs & Johnson.

Bringing a wealth of highly relevant knowledge and experience, the group will dissect the budget and communicate their findings, assessing how well the 2019/2020 budget articulates the government’s announced strategies, policies and goals. The focus will be on such essential

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$4.95

$4.91

CDB: Bahamas 6th most vulnerable across region

By MORGAN ADDERLEY Tribune Staff Reporter madderley@tribunemedia.net

T

HE Bahamas is the sixth most vulnerable country in the region, according to a recent Caribbean Development Bank (CDB) study.

In interviews with The Tribune, CDB President Dr William Warren Smith listed building economic and climate change resilience, switching from fossil fuels to more renewable sources of energy and reducing inequality as all key areas in which the Caribbean Development Bank can help The Bahamas reduce its vulnerability.

Dr Smith made these

DR WILLIAM WARREN SMITH comments during the 49th Annual Board of Governors Meeting of the CDB, which was held last week in Trinidad and Tobago.

CDB economist Jason Cotton presented the working paper, “Measuring Vulnerability: A Multidimensional Vulnerability Index for the

Caribbean”, during a conference seminar.

The report defines vulnerability as “the exposure to sharp eternal shocks, either fiscal, trade or climate-related, and can be distinguished from there term fragility”, and found the CDB’s seventeen Borrowing Member Countries

(BMCs) are middle-to-highvulnerable states.

The report, which focuses on economic, social and environmental vulnerability, found “tourism-based economies appear to be more vulnerable than commoditybased economies”.

For 2017, The Bahamas received an overall score of 0.57 out of 1.0, ranking lower than countries such as St Lucia and Jamaica but above Barbados, Antigua and Barbuda.

With a score of 0.71, Haiti ranked first on the most vulnerable scale. Trinidad and Tobago, with a score of 0.34, ranked bottom.

The Bahamas’ vulnerability increased in comparison with 2016, when it ranked

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Bank’s aims mirror our own goals, insists Johnson

By MORGAN ADDERLEY Tribune Staff Reporter madderley@tribunemedia.net WITH The Bahamas set to host next year’s 50th Annual Board of Governors Meeting of the the Caribbean Development Bank, Financial Secretary Marlon Johnson has noted the priorities of the ban “mirrors” those of the Minnis Administration.

During the closing ceremony of the CDB’s 49th annual meeting, held last week in Port-of-Spain, Trinidad, Mr Johnson accepted the mantle for The Bahamas to host the 2020 conference.

In an interview with The Tribune following the event, Mr Johnson expressed his hopes for underscoring The Bahamas’ long involvement

MARLON JOHNSON with the CDB - which includes the Minnis Administration’s recent movement of a resolution to borrow $14.6m from the CDB to fund a street lighting-retrofitting project.

Regarding The Bahamas’ hosting duties for the 50th annual conference, Mr Johnson noted it’s been tradition for The Bahamas to host the conference every ten years.

“So it’s a tradition now, we’re doing it again on the 50th year,” he told the Tribune. “It’s timely for us because actually a lot of the priorities of the bank very much mirror the priorities of the administration.

“These development goals, whether it’s around digitisation, whether it’s around climate residency, whether it’s around SME development, the thrust of the bank actually mirrors The Bahamas.

“So it will be a good time for the Bahamian practitioners to actually sit in on

some of the meetings to get a sense of what’s happening in the Caribbean and to get the idea as to see the extent to which what we’re doing actually mirrors some of the same challenges and opportunities elsewhere in the region.”

When asked about the government’s involvement with the CDB, Mr Johnson underscored The Bahamas has been a member of the CDB “almost since its independence”.

“And what the CDB does like the (Inter-American Development Bank) IDB is it provides developmental resources. it allows the government to get monies and loans at rates it couldn’t otherwise get on the open

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$4.90

Vantage shares operating learnings

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net VANTAGE Airport Group, a leading global airport investor, developer and manager, has marked the successful delivery of its second biennial operations workshop held this year in Nassau.

Vantage Airport Group was supported by the Nassau Airport Development Company (NAD), operators of Lynden Pindling International Airport (LPIA). NAD is a Bahamian company owned by the government of The Bahamas and operated by Vantage, making LPIA part of its worldwide network of airports. Almost 40 airport operations professionals from across the Vantage network attended the two-day workshop, which focused on emergency preparedness and response, outcomes and continuous learning.

The workshop agenda included presentations, tabletop simulations and small group work on the latest on emergency planning, reporting and investigation, and recent technological advancements impacting the spectrum of airport operations, from passenger screening and security to training and incident management.

“One of the advantages of being part of the Vantage network is the opportunity to share best practices and learn from one another’s experiences,” said Lori Chambers, Senior Director, Operations, Vantage

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Hotel union set to hit back over ‘dishonesty’ claim by employers

By NATARIO MCKENZIE and KHRISNA RUSSELL Tribune Staff Reporters THE Bahamas Hotel Catering and Allied Workers Union (BHCAWU) yesterday pledged to “lay all of our cards on the table” over negotiations with the Bahamas Hotel Employers Association (BHEA).

“We do intend to respond and we intend to respond factually,” said BHCAWU President Darren Woods.

“I have to respond based on what was said. We are going to lay all the cards on the table. I will hide nothing and will be able to question me.

“We have been called a

DARREN WOODS lot of things. I understand they went as far as calling us dishonest, but we will lay the facts on the table... and everyone will be able to see the truth not by Darren, not by the other side, but by the facts.”

Last week, the BHEA slammed the hotel union for “deliberately riling up” its members into voting for a strike by misleading them over the 15 percent gratuity’s fate.

Russell Miller, the Bahamas Hotel & Restaurant Employers Association’s (BHEA) president, read out a statement to the media in which the group - which represents the interests of major New Providence hotels - accused the Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) of engineering a strike vote “around issues that simply do not exist”. Affirming that hotel employers had never proposed eliminating the automatic 15

6

percent gratuity, Mr Miller said the union’s leadership had simply made “an uninformed assumption” over the BHEA’s offer and “stirred up” their members’ worst fears to gain overwhelming support for a strike.

He also described the union’s claims that employers were unwilling to negotiate as “at worst, patently dishonest” and “not in the least bit productive”.

He also accused the union of misrepresenting both the content, and process to-date, in the two sides’ dealings as they inch towards the first hotel

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PAGE 2, Tuesday, June 11, 2019

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THE TRIBUNE

Budget under the microscope FROM PAGE ONE matters as how funds have been apportioned, taxation, gains in ease of doing business, spurring economic growth and overall contributions to social development.

The on-site audience will be invited to comment and/or ask questions of the panel. The Financial Voice also invites questions via texts and emails from those following online or via television.

“We want Bahamians to realise that they do have a voice in their own country. We want you to realise that the budget is still being debated and you as a Bahamian have a right to join

Vantage shares operating learnings FROM PAGE ONE

Airport Group. “We work hard to foster a culture of collaboration, rooted in the principles of safety and security, across our network of best-in-class airports, and this workshop is a great example of that approach.”

“We are so pleased to host operations colleagues from across the Vantage network. Beyond the valuable shared learning on the subject of emergency management, this event offered NAD an opportunity to

the conversation, regardless of where you are. So if you can’t make it to the live audience, send in your questions. But let’s make this a national conversation. I am so proud that the Financial Voice can provide all Bahamians with an opportunity to share their thoughts, opinions and concerns in a live, interactive forum,” said Joan Albury, president of TCL Group.

A brand of and organized by TCL Group, the Financial Voice is a yearly event which has become an eagerly awaited fixture on The Bahamas calendar, as many consider this laymanfriendly analysis a useful tool in their personal financial planning.

showcase the operational excellence our team delivers at LPIA every day,” said Deborah Coleby, Vice President, Operations, NAD.

THE TRIBUNE

Tuesday, June 11, 2019, PAGE 3

Bank’s aims mirror CDB: Bahamas 6th most vulnerable our own goals, insists Johnson across region FROM PAGE ONE market. So the loans that you would get from the CDB or IDB would be at lower interest rates and at much longer tenures. So it means that your repayment period is longer and therefore smaller. And you also get the benefit of their expertise.

“Because, for instance, one of the projects that the government is now contemplating that’s before the House of Assembly is a street lighting project. And so not only will we get the $14.6m loan at very favourable rates and over a very favourable length of time, but the CDB would have

done this project in other Caribbean countries.

“So now what they would have done (is) they would have developed a body of expertise around how these things work - what works, what doesn’t work. And so that’s how the country benefits when it borrows money from institutions like the CDB. The CDB is of particular relevance to us because it is Caribbean.

And so as you would (have) heard over the last few days and as we see, a lot of the challenges and opportunities that we face as a Small Island Developing Country, our peers around the region face it. So you have that opportunity to dialogue with them, learn from them,

and they learn from us.”

On May 29, Finance Minister K Peter Turnquest moved two resolutions to borrow a combined total of nearly $87m to defray expenditure and to fund the implementation of the street lighting-retrofitting project.

For state spending purposes, the government intends to borrow $72,387,438.

The remaining $14.6m from the Caribbean Development Bank will cover the street light project and includes project preparation assistance, infrastructure works, engineering and construction related services goods and project management.

Hotel union set to hit back over ‘dishonesty’ claim by employers FROM PAGE ONE industry industrial agreement for six years.

Mr Miller’s statement made plain the employers’ anger and distaste for the union’s conduct, describing its behaviour as “unprofessional and, quite frankly, grossly irresponsible”.

The resorts which are members of the BHEA bargaining unit are Melia, Atlantis, Ocean Club, Harborside, the British Colonial Hilton, Lyford Cay Club and Towne Hotel.

Significantly, Sandals Royal Bahamian, SuperClubs Breezes and Baha Mar are not included.

While the BHEA said last week its statement would be its only utterance on its negotiations with the BHCAWU, Mr Woods said the union would not let its claims go unchallenged.

“One thing with the truth is it needs no defence. You will hear from us this week.

I am going to put all the information together so that we can factually show you what went down going all the way back to 2012 when we first sent the letter requesting dates for negotiations and what they did,” said Mr Woods.

Tourism Minister Dionisio D’Aguilar during his 2019/2020 budget presentation spoke again to the issue stating: “I note with caution, therefore, the rumblings of industrial

FROM PAGE ONE 9th with a score of 0.52.

The studied noted the factors that contributed to an increase in vulnerability in some countries included “the rise in the number of murders; increased dependence on energy-related imports; (and) the impact of natural hazards, particularly hurricanes”.

When asked how the CDB can help The Bahamas lessen its vulnerability and dependence on sectors such as tourism, Dr Smith pointed to the bank’s efforts to help The Bahamas build resilience.

“The Bahamas is in a good situation as it relates their economic performance: there’s clear evidence of a turnaround in economic outlook in The Bahamas,” Dr Smith said.

“But, like so many other countries especially in that part of the Caribbean, the northern part of the Caribbean, there’s a real risk of climate impact.

“The CDB I think is very well positioned to be able to assist The Bahamas,” he continued.

“One, we have access to very, very attractively priced resources, financial resources, for first of all building resilience - economic resilience and also building infrastructure resilience to climate effects.

“We have a relationship with the European

Investment Bank where what they do is they provide us with financing, longdated financing, and there’s a subsidy element in that financing which the government is the beneficiary of, not the CDB. “So what it does, it reduces the cost of the financing for economic resilience building and for the rehabilitation of infrastructure from The Bahamas.”

Dr Smith noted the bank prefers to take a proactive approach, particularly as it relates to identifying infrastructure that needs to be “climate-proofed”.

He also noted the government has already purchased the Caribbean Catastrophe Risk Insurance Facility (CCRIFF).

Earlier this year, Prime Minister Dr Hubert Minnis announced his administration re-enrolled in this regional insurance fund, which the former Christie administration exited after determining the country had little chance of receiving a payout because of how the scheme was structured.

Underscoring a need to address climate change “broadly”, Dr Smith also pointed to The Bahamas’ reliance on fossil fuels for electricity.

“There is an opportunity in The Bahamas to move towards cleaner sources of fuel,” he said. “And the CDB has a programme, again we have access to

soft resources, which can be used to transform the electricity sector. You can move to some of the renewable sources of energy, such as wind and solar. And the CDB has the funding to be able to provide that type of project.

“And the benefits there are not only that you reduce the importation of fuel that is going to damage the environment and worsen the climate conditions. But it also has another benefit in that you reduce the amount of foreign exchange that you have to spend to import that fuel. So that’s another area where we can assist The Bahamas in a climaterelated sense.

“What we want to do is continue some of the work that we’re currently doing with The Bahamas to build that resilience,” Dr Smith told The Tribune. And that resilience is not only in relation to sea defences and building infrastructure in a more resilient way but also building your resilience to external economic shocks as would happen with result from rises in petroleum prices and things of that nature.

“Hence the need to focus on renewable energy, where you have good potential.”

Dr Smith added The Bahamas should focus on reducing inequality, particularly in the Family Islands.

AMMENDMENTS TO THE APPROVED LIST OF CANDIDATES AMMENDED FRIDAY, MAY 3RD, 2019

BY ELECTIONS COMMISSION

DIONISIO D’AGUILAR

EXECUTIVE MEMBERS:

action coming from the hotel sector. I implore both sides to negotiate in good faith.” He implored both sides not to rush to judgement or make any drastic moves that put this nation’s number one industry in jeopardy.

“I hear a lot of harsh words but I am dismayed that there has been little or no negotiations. That is not good! Negotiations must be exhausted before we even start talking about the

nuclear options! I will say no more on this other than I am available to both sides to help where I can to bring this to an amicable compromise,” said Mr D’Aguilar.

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1. Rosemary E. Burrows 2. Maralyn Genette Burrows 3. William Ingraham 4. Cyril Morris Jr. 5. Wayne Thompson 6. Kameisha Delique Wells 7. Judd T. Williams TRUSTEES: 1. Jacqueline Lorene Mckenzie 2. Bolinder Newbold – Munroe 3. Vernincha Louise Delcine Simmons 4. Lana Monique Williams-Smith 5. Haldane Alfred Stubbs AREA VICE PRESIDENTS: NORTHERN BAHAMAS: 1. Ann Marie Bullard 2. Eldecia Thompson GRAND BAHAMA: 1. Quintin Howard Laroda 2. George Austin Trevor Mills.

NEW PROVIDENCE: 1. Vernon Jemell Rodgers SOUTHERN BAHAMAS: 1. Ann Louise Strachan TREASURER: 1. Lorraine Knowles 2. John Musgrove ASSISTANT TREASURER: 1. Catherine Knowles-Stubbs 2. Katress Wells SECRETARY – GENERAL: 1. Helena Cartwright 2. Dion Damien Johnson 3. Tiffany M. Delancy-Laing ASSISTANT SECRETARY – GENERAL: 1. Juanita T. Gaitor 2. Cedricka Rolle PRESIDENT: 1. Joan Knowles-Turnquest 2. Belinda Wilson VICE PRESIDENT: 1. Tiffany Burrell-Roberts 2. Jason Haley From the desk of John Musgrove Secretary-General The Bahamas Union of Teachers

PAGE 4, Tuesday, June 11, 2019

Focus on local THE Bahamas Light Industries Development Council (BLIDC) which represents the needs and interests of local manufacturers is looking to increase its profile and raise awareness of locally manufactured products.

The BLIDC, an organisation formed initially in 1973, and currently represents some 30 local manufacturers is working to advance the interests and needs of local manufacturers.

One of its core purposes is to promote manufacturing in The Bahamas. The newly appointed BLIDC board have released a new television commercial highlighting the impact of buying local and supporting Bahamian manufacturing companies.

“The BLIDC has been lying dormant for quite a few years, however we are seeking to change that,” said Karla Wells-Lisgaris, VP of the BLIDC. “One of our primary goals in 2019 is to increase the awareness of both our members, and the products they produce, as well as to raise the profile of the BLIDC,” she continued. The video features Bahamian workmen/ women inside local factories to promote and raise awareness of Bahamian run operations. The BLIDC’s promotional video can be viewed on its social media pages.

THE TRIBUNE

Seniors more likely to work longer in big metropolitan areas

By ANDREW SOERGEL Associated Press SENIORS in major metropolitan areas, especially in the Northeast and around Washington, DC, are more likely to continue working past age 65 than those in other areas around the country, according to an analysis of Census data

by The Associated PressNORC Center for Public Affairs Research.

“Those are the areas where all of the jobs are, really,” says Anqi Chen, assistant director for savings research at Boston College’s Center for Retirement Research. “The coastal areas recovered well from the recession, while other areas have not.”

But it’s also the types of jobs in those areas — government, finance, law and academia — that keep seniors working longer, analysts say.

Older workers can be a boon to regional economies, increasing tax revenues, stimulating growth with more consumer spending and providing additional talent and expertise at a time of low unemployment, says Paul Irving, chairman of the Milken Institute Center for the Future of Aging.

Among counties with at least 6,000 residents, about 12% have at least 21% of their seniors working or actively looking for jobs, according to an analysis of the Census’ 2017 American

STEVE BURGHARDT, a professor of social work at the City University of New York, gestures as he speaks in his office at Hunter College’s Silberman School of Social Work. Seniors in major metropolitan areas, especially in big Northeastern cities and around Washington, DC, are more likely to continue working past 65 than those in other areas around the country, according to an analysis of Census cata by The Associated Press and the NORC Center for Public Affairs Research.

Photo: Mary Altaffer/AP Community Survey report.

Of that group, nearly 25% are located within the Northeast or in Maryland or Virginia. And nearly 15% are within 70 miles (113 kilometers) of New York, Boston, Philadelphia or Washington, DC. “I consider myself to be a very fortunate person to still do what I loved at 27 at 74,” says Steve Burghardt, a professor of social work at the City University of New York. “I feel advantaged being in New York, where you’re exposed to sights and sounds and differences that are always exposing me to new ways to understand

myself and to learn from other people.”

Two Washington suburbs, Falls Church, Virginia, and Alexandria, Virginia, are among the nation’s leaders in terms of senior labor force participation, with rates of nearly 37% and nearly 30%, respectively.

This area is also home to one of the fastest growing senior labor forces in the country — three of the 11 counties that saw senior participation rates climb the fastest between 2009 and 2017 are located within 70 miles of Washington.

But large, populous counties don’t have a monopoly

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, PATRICIA DENEICE WOODSIDE, of #40 Imperial Park, Sunset Subdivision, Freeport, Grand Bahama, Bahamas, mother of MACANATTY DURAN WILLIAMS, a minor, intends to change his name to MACANATTY DURAN WOODSIDE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas, no later than thirty (30) days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that ASHANTA AERIAL HENDFIELD of Sea Grape, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

YOUR

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

NOTICE

NOTICE is hereby given that JAMES EXANTUS of Hanna Road off Fox Hill Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

NOTICE FELINO CORPORATION LTD. N O T I C E IS HEREBY GIVEN as follows:a)

FELINO CORPORATION LTD. is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

b)

The dissolution of the said company commenced on the 28th May, 2019 when the Articles of Dissolution were submitted to and registered by the Registrar General.

c)

The Liquidator of the said company is Octagon Management Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, Bahamas.

Dated this 11th day of June, A. D. 2019

on senior participation in the labor force.

Vermont, one of the least populous states, holds two counties that rank among the top 100 (Windham and Washington counties) and eight among the top 329 in terms of senior participation.

“Despite whatever misnomers might exist, there is a great demand out there for mature workers,” says Mary Branagan, director of program and partner affairs at Associates for Training and Development, a workforce training and development outfit headquartered in Vermont.

Branagan helps oversee the state’s Senior Community Service Employment program, which matches qualifying unemployed state residents at least 55 years of age with paid internships that can help them update their skills and remain in the workplace longer. She says her company’s offices in Washington and Windham counties are among its largest statewide.

In other areas of the country, Colorado has six of the top 50 counties both in terms of senior labour force participation in 2017 and participation growth between 2009 and 2017.

And rural counties heavy in agricultural employment, especially in Kansas, Nebraska and Iowa, boast a considerable senior labor participation rate. Though the jobs are often labor intensive, agricultural professions maintain some of the highest median ages in the country, according to Bureau of Labor Statistics data.

That’s due in part to much of US agriculture being concentrated in family farms, the Department of Agriculture says. People can continue living and working on these operations well into their “retirement” years by scaling things down and renting land to other farmers.

At the other end of the spectrum, senior labor force participation in 2017 was less than 12% in nearly 14% of counties with at least 6,000 residents. Kentucky, Michigan, Georgia, Alabama, Florida and West Virginia collectively accounted for more than 50% of those bottom-ranking counties in terms of senior labor participation.

Senior participation contracted in more than 24% of counties between 2009 and 2017. Nearly 33% of those counties are located in Georgia, Texas, Missouri, Kentucky or North Carolina.

Experts say it’s these lower-ranking counties that are missing out on the potential benefits of a stronger senior labour force.

These areas also stand to benefit most from targeted skills training investments and other initiatives that would spur seniors off the sidelines.

“It’s good for GDP growth overall and it’s generally just good for the health of the overall economy,” says Andrew Chamberlain, chief economist at employment hub Glassdoor, referring to senior participation in the workforce.

Chen notes manufacturing-heavy areas within the Rust Belt and in states including Alabama and Georgia are among those with the lowest senior labor participation. Manufacturing payrolls have plummeted over recent decades amid automation and globalisation challenges.

Labour-intensive jobs that are prominent in those areas often preclude folks from working later into life, and the types of white collar jobs that are more prevalent in larger cities are in shorter supply.

“It’s partly just how grim the job prospects are in a lot of micropolitan, or small city and rural, areas,” says Gary Burtless, a senior fellow at the Brookings Institution.

“A lot of them are oneindustry towns. And if that industry has been hit hard, that’s going to be a problem for younger workers and older workers.”

Burtless notes elderly labor force participation tends to be higher in urban areas where older workers are better educated, better compensated and less reliant on labour-intensive blue collar industries.

“The thinking as to why highly educated people tend to work longer is that they may enjoy better health.

They may enjoy better working conditions,” says Jen Schramm, a strategic policy adviser for the AARP Public Policy Institute.

“They are likely to be paid more, so that’s more of an incentive to keep working.”

NOTICE

NOTICE is hereby given that DELIA CALIXTE of Pinedale Street off Wulf Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 4th day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that WHITNIE TENEICHA ROLLE of Kennedy Sub, P.O.Box N-10015 Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

B

RITAIN is set to get a new prime minister, but only members of the Conservative Party have a say in the decision. The Conservatives are holding an election to replace Prime Minister Theresa May, who resigned as party leader last week after failing to lead Britain out of the European Union on schedule.

After the close of nominations yesterday, tenlawmakers were officially running to succeed her: • BORIS JOHNSON, 54: The former London mayor and foreign secretary adores the limelight and courts the media, tousling his blond hair to make it even more unruly and peppering his speeches with jokes, quips and Latin phrases.

One of Britain’s best-known politicians, he is popular with rank-and-file Conservative Party members who think he has the popular touch, and is currently the bookies’ favourite to replace May. A leading figure in the 2016 campaign to leave the European Union, Johnson takes a tough line on Brexit.

He has vowed that Britain will quit the EU on Oct 31 with or without an agreement, and threatened to withhold an agreed 39 billion pound ($50bn) divorce payment if the bloc plays hardball. He’s also promising a tax cut for middle- and high-income earners.

• JEREMY HUNT, 52: Hunt has held a variety of government posts and has been foreign secretary since Johnson resigned in JuIy over Brexit. Regarded as even-tempered and competent, he managed to navigate a heated contract dispute with doctors in the National Health Service when he was health secretary, securing a deal after a long-standing argument. Though an excellent communicator, some doubt he is flashy enough to excite the electorate.

Hunt backed the losing “remain” side during the 2016 EU membership referendum, but now says he will negotiate a better Brexit deal with the EU and lead the UK out of the bloc.

• MICHAEL GOVE, 51: Like Johnson, Gove helped lead the campaign to leave the European Union, but scuttled his friend Johnson’s bid to become prime minister in 2016 when he unexpectedly withdrew support and decided to run for the job himself — a move that gives him a lingering

MICHAEL GOVE

SAM GYIMAH

MATT HANCOCK

Who are the 10 Tories running to be UK prime minister?

LONDON | Associated Press

DOMINIC RAAB

ESTHER MCVEY

BORIS JOHNSON

JEREMY HUNT

SAJID JAVID

In the Estate of DIANNA WELLS-BAIN late of the Settlement of Fox Town on the Island of Abaco one of the Islands of The Commonwealth of The Bahamas, deceased.

NOTICE NOTICE is hereby given that all persons having any claim or demand against the said estate are required to send the same duly certified in writing to the undersigned on or before the 12th day of August, A.D. 2019, after which date the Administrator will proceed to distribute the estate having regard only to the claims of which he shall have had notice.

AND notice is hereby given that all persons indebted to the estate are required to make full settlement on or before the date hereinabove mentioned.

CEDRIC L. PARKER & CO. Attorneys for the Executrix 9 Harcourt (Rusty) Bethel Drive Nassau, Bahamas

taint of treachery in the eyes of some Conservatives.

Gove has held several posts in May’s government — he’s currently environment secretary — and backed her Brexit policies even as former colleagues denounced May’s withdrawal deal. That hurts him among hardcore Brexiteers, who believe he went soft by supporting May’s deal.

Give is also facing pressure after acknowledging that he took cocaine more

Tuesday, June 11, 2019, PAGE 5 than once before entering politics.

• DOMINIC RAAB, 45: The former Brexit Secretary, who held the post from July to November, resigned in opposition to the divorce deal that May struck with the European Union. A firm Brexiteer, he says Britain has been “humiliated” by the EU and must not delay its departure beyond Oct 31; he has even suggested he could suspend Parliament if it tried to delay or impede Brexit.

Raab also appears to be playing to the party’s traditionalist wing, saying he is “probably not” a feminist and opposes making it easier for people to change their gender.

• SAJID JAVID, 48: Javid’s background as the son of Pakistani immigrants sets him apart from many of the other Conservative contenders. A former banker who was elected to Parliament in 2010, he is a champion of the free-market, libertarian wing of the party.

During the Brexit referendum of 2016, Javid was on the “remain” side but has since embraced Brexit, though some Brexiteers remain suspicious of his allegiances. He says he would make getting a new deal with the EU his “absolute priority” and does not favour walking away without an agreement.

As home secretary, responsible for immigration and borders, he has raised his profile in recent months by taking aggressive action to curtail the arrival of small boats carrying migrants across the English Channel.

•MATT HANCOCK, 40: Health Secretary Matt Hancock pitches himself as the face of a younger, modernizing generation in the Conservative Party. Promising to deliver an energising blend of social liberalism and economic dynamism, he says the Conservatives have to look beyond Brexit — a message that may be coming too soon for many in the party.

•ANDREA LEADSOM, 56: Leadsom, who campaigned in 2016 to leave the EU, quit as leader of

the House of Commons last month over opposition to May’s Brexit deal, helping to ensure the prime minister’s downfall. She ran against May for Tory leader in 2016, quitting the race after receiving harsh criticism for saying motherhood helped make her qualified to lead; May has no children.

Leadsom rejects May’s divorce agreement and says Britain should leave the EU on Oct 31 with a series of mini-deals to ensure trade and travel can continue.

Critics say this is wishful thinking since the bloc will not agree.

• RORY STEWART, 46: A longshot candidate, International Development Secretary Rory Stewart has seen his profile soar with a savvy campaign that saw him travelling the country talking to voters, and producing endearingly amateurish social media videos. He has the most eye-catching background of any candidate: a sometime tutor to Princes William and Harry, Stewart once walked across Afghanistan and was deputy governor of a province in Iraq after the 2003 US-led invasion.

A former supporter of remaining in the EU, he now backs Brexit but appeals for compromise, saying Britain can’t realistically leave the bloc without a divorce deal.

He has slammed the promises of Johnson and other Brexit-backers as unrealistic and calls himself the “antiBoris” candidate.

• ESTHER McVEY, 51: A former TV presenter and Cabinet minister, McVey is an uncompromising Brexiteer and says she has the skills to connect with blue-collar Conservatives.

She says Britain must leave the EU on Oct 31 no matter what and, like Raab, she hasn’t ruled out suspending Parliament to force through a no-deal Brexit.

• MARK HARPER, 49: A former Conservative whip in Parliament, Harper is one of the lesser-known contenders. He is trying to turn that to his advantage, arguing that he represents a clean break from May’s administration, which has tried and failed to deliver Brexit.

PAGE 6, Tuesday, June 11, 2019

THE TRIBUNE

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

T

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

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

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

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

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

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

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

OPPORTUNITIES • • • •

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

BENEFITS

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

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

THE TRIBUNE

Tuesday, June 11, 2019, PAGE 7

US stocks climb after US suspends tariffs on Mexican goods

To advertise in The Tribune, contact 502-2394

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

THURSDAY, 6 JUNE 2019

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,152.03 | CHG: -2.98 | %CHG: -0.14 | YTD: 42.58 | YTD%: 2.02 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.50 2.60 2.00 3.15 11.05 6.17 4.64 12.50 2.74 1.96 9.51 7.00 15.60 7.75 3.75 14.00

52WK LOW 3.50 19.17 4.90 3.85 1.00 0.19 2.00 8.89 6.13 3.54 10.00 2.35 1.60 7.50 6.10 11.00 6.20 3.01 12.51

PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00

1.00 103.00 100.00 100.00 105.00 103.00 100.00 10.00 1.01

1000.00 1000.00 1000.00 1000.00

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

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

E J K L M N

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.45 10.00 2.79 1.85 9.73 7.00 14.45 7.75 3.16 14.00

CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.45 10.00 2.70 1.85 9.77 7.00 14.45 7.50 3.16 14.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.09 0.00 0.04 0.00 0.00 -0.25 0.00 0.00

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

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

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

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 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

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

10,900 5,000

1,250

VOLUME

EPS$ 0.167 0.932 1.760 0.323 0.098 0.000 -0.438 0.708 0.480 0.184 0.627 0.102 0.209 0.000 0.611 0.743 0.939 0.205 0.631

DIV$ 0.130 1.260 0.000 0.250 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.068 0.060 0.328 0.240 0.500 0.200 0.090 0.600

P/E 25.0 18.7 N/M 16.7 N/M N/M -5.0 15.6 12.8 24.2 15.9 26.5 8.9 N/M 11.5 19.4 8.0 15.4 22.2

YIELD 3.11% 7.23% 0.00% 4.63% 0.00% 1.03% 0.00% 6.43% 3.57% 2.70% 6.20% 2.52% 3.24% 3.36% 3.43% 3.46% 2.67% 2.85% 4.29%

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

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

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

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

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD%12 MTH% 1.22% 3.96% 0.74% 3.42% 0.97% 2.67% 2.06% 4.97% 4.52% 0.96% 1.57% 4.58% 0.99% 4.25% 1.32% 4.12% 3.22% 5.64% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%

NAV Date 30-Apr-2019 30-Apr-2019 26-Apr-2019 31-Mar-2019 31-Mar-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019

MUTUAL FUNDS 52WK HI 2.23 4.27 2.05 188.32 158.55 1.62 1.76 1.70 1.15 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.56 1.68 1.64 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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 Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.23 4.27 2.05 188.32 154.49 1.62 1.76 1.70 1.15 7.66 8.94 6.71 11.25 11.94 10.59 9.92 8.68 11.38

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 - 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 | BENCHMARK 242-326-7333

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law & Equity Division BETWEEN

2018 CLE/qui/000240

NOTICE The Petition of EARNESTINE KING in respect of: IN THE MATTER OF ALL THAT piece parcel of lot of land being lot number six (6) being a part of “The James Howe Grant A-66” and situate on the Northern side of Cow Pen Road approximately one mile West of Blue Hill Road in the Southern District of the Island of new Providence aforesaid and which said piece parcel or lot of land is bounded Northwardly by lot number Nine (9) on the plan and running thereon Fifty-five and Fifty hundredths (55.50) feet Eastwardly by lot number five (5) the property of Dwight B. King and running thereon One Hundred and Eight Hundredths (100.08) feet Southwardly by Cow Pen Road and running thereon Fifty-six and Twenty-nine hundredths (56.29) feet Westwardly by Thirty (30) feet wide road reservation on the plan and running thereon One Hundred and Sixteen Hundredths (100.16) feet which said piece parcel or lot of land has such shape boundaries marks and dimensions as are shown on the Plan and is delineated on that part of the plan which is coloured Pink and designated as Lot Number Six (6) thereon.

The Petitioner EARNESTINE KING claims to be the legal and beneficial owners in fee simple in possession of ALL THAT parcel of land hereinbefore described and the Petitioner has made application to the Supreme Court of the Commonwealth of the Bahamas under Section 3 of the Quieting Titles Act, 1959, to have its title to the said land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act. Copies of the filed plan may be inspected during normal working hours at:a. The Registry of the Supreme Court, British American Building, Marlborough and George Streets, Nassau, N. P., Bahamas; or b. The Chambers of Bowleg McKenzie Associates, RowClem House, #67 Marathon Road, Marathon Estates, New Providence, The Bahamas.

NOTICE IS HEREBY GIVEN that any person having dower or right to dower or any adverse claim or claim not recognized in the Petition shall on or before the expiry of the thirty (30) days after the final publication of these presents, file in the Registry of the Supreme Court and serve on the Petitioners or the undersigned a statement of such claim in the prescribed form and verified by an affidavit to be filed therewith. Failure of any such person to file and serve a statement of such claim on or before the expiry of the thirty (30) days after the final publication of these presents, will operate as a bar to such claim.

BOWLEG MCKENZIE ASSOCIATES Chambers RowClem House # 67 Marathon Road Marathon Estates, N.P., The Bahamas

By DAMIAN J TROISE and ALEX VEIGA Associated Press TECHNOLOGY companies and banks helped power stocks higher on Wall Street yesterday as investors welcomed news that the US and Mexico averted a trade war and potentially damaging tariffs.

The latest gains extend the market’s winning streak to a fifth day. That follows the strongest week for stocks since November in what has been a marked turnaround for the market after escalating trade tensions fueled a turbulent skid in May. Some of those trade jitters eased a bit yesterday, at least in regard to the trade spat between the US and Mexico. President Donald Trump suspended plans to impose tariffs on Mexican goods after the countries struck a deal on immigration. The dispute threatened to raise costs for American companies and consumers and expand a global trade war that already includes China.

During an interview with CNBC, Trump said yesterday that he expects to meet with Chinese President Xi Jinping at the Group of 20 summit in Japan later this month. That may have given investors some cause for optimism in the dispute between Washington and Beijing, though Trump noted that an additional wave of US tariffs on Chinese goods will go into effect if the Xi refuses to meet at the summit.

“Relief in trade tensions, in terms of Mexico, and hope for relief in trade tensions with China seem to be helping the market today,” said Willie Delwiche, investment strategist at Baird.

The S&P 500 index gained 13.39 points, or 0.5%, to 2,886.73. The benchmark index rose 4.4% last week, its best weekly performance of 2019. It’s now about 2% below its

record set on April 30.

The Dow Jones Industrial Average rose 78.74 points, or 0.3%, to 26,062.68. The Nasdaq composite climbed 81.07 points, or 1.1%, to 7,823.17. The Russel 2000 index of smaller companies gained 9.17 points, or 0.6%, to 1,523.56.

Stock indexes in Europe finished broadly higher.

The latest gains build on the market’s momentum from last week, when a lackluster US jobs report appeared to increase the odds that the Federal Reserve will have to cut interest rates in coming months. Last week, Federal Reserve Chairman Jay Powell held out the possibility that the central bank will soon cut rates to protect the economic recovery from any damage resulting from the Trump administration’s multiple trade disputes.

Many analysts think the Fed will cut rates more than once before year’s end, perhaps beginning in July.

“We have essentially, over five trading days, undone the preceding 19 days’ worth of weakness,” Delwiche noted.

Other market indicators still signal that investors are worried about the potential for an economic slowdown, however.

The yield on the tenyear Treasury note remains sharply lower from where it was at the beginning of May, before the Trump administration’s tariff threats escalated trade conflicts with China and Mexico.

That spooked investors, triggering a monthlong sell-off that derailed the market’s strong start to the year.

“If you look beyond the S&P 500, it’s not nearly as rosy a picture,” Delwiche said. “You don’t want to make too much of what we’ve seen over the past week. It’s been encouraging, but it’s by no means an all-clear, everything-is-OK signal.”