THURSDAY, AUGUST 9, 2018
Pintard promises ‘urgency’ in helping farmers By NATARIO MCKENZIE
Tribune Business Reporter
GRICULTURE and Marine Resources Minister Michael Pintard said yesterday government is taking steps with “urgency” to help build capacity in the local agricultural sector, acknowledging there were far too many “gaps” in discussions with local farmers. Mr Pintard told Tribune Business: “We are committed to building the capacity of persons in this sector. That includes helping them get the technical assistance in effectively managing and
growing their enterprises. It’s important for persons involved in livestock and crop production to know what are the inputs I need, in what quantities, what is the yield I am likely to get from a certain crop under cultivation and the potential yield of that crop upon harvest. That information is very useful and that is why the shift at BAMSI is to more research and less and less about production which we believe the commercial sector is more qualified to carry out.” Mr Pintard said government is also keen on assisting farmers with their marketing strategies. “We are very good at
production, we have not been good at distribution. A lot of what we produce are wasting on the Family Islands and on New Providence to some extent,” he said. “We want to help farmers properly package, market their products and get them to market. Presently the packing houses, BAMSI and BAIC is playing a pivotal role but I think we must transition out of that state to empower the farmers through co-operatives and commercial enterprises to better distribute their products.” Mr Pintard also foreshadowed an overhaul of the feed store system. “We
must improve dramatically the store that provides the farmers with feed, fertilizers and ensure that there is consistency of supply. We are going to do an overhaul of that system. We will be having discussion with private sector folks who might be better suited to administer such facilities. We are also looking at enter public private partnerships that can build the infrastructure that can service farmers and fishermen. These are some of the
Tribune Business Reporter
firstname.lastname@example.org THE government’s decision to revert to the previous definition of “owner occupied” properties may have saved “hundreds of millions of dollars” in real estate value and helped to preserve investor trust in The Bahamas, the Bahamas Real Estate Association
(BREA) said yesterday. “The 700-member Bahamas Real Estate Association welcomes Government’s decision to revert to the pre-budget definition of owner-occupied residential property, eliminating the onerous requirement that owners spend six months of the year in residence,” said BREA President Christine Wallace-Whitfield in a
National lottery - Wilchcombe argues for full steam ahead By NATARIO MCKENZIE
Tribune Business Reporter
email@example.com THE establishment of a national lottery could provide the additional revenue to address budgetary shortfalls in areas such as education and social assistance according to an ex-tourism minister who urged the government not to hesitate. Obie Wilchcombe, pictured, minister of tourism with responsibility for gaming under the former Christie administration, said that recent remarks by Finance Minister K Peter Turnquest - indicating the
lottery conversation has started within government - was encouraging. “He says it is not off the table. If the government puts it out to an RFP, there are Bahamian groups who would be interested or they may choose to work with
SEE PAGE 5
Outback unveils plans to head out West By NATARIO MCKENZIE
Tribune Business Reporter
firstname.lastname@example.org OUTBACK Bahamas plans to invest some $2m on a second restaurant on New Providence. Since July 2013, the Outback Steakhouse Brand has been serving up Aussie inspired food favourites with a Bahamian twist. Through the continued support of its loyal customer base, the company has continued to “bloom”, offering its customers a superior dining experience
in a safe and family friendly environment. Building on that success, the company is also expanding into the Turks and Caicos Islands. “We’ve been hard at work over the last year to bring the brand into the Turks and Caicos” said Christopher Mortimer, Outback President and CEO. “We’re very excited about the progress we’ve made and are looking forward to a successful launch later this month”.
SEE PAGE 5
statement yesterday. Deputy Prime Minister and Minister of Finance K Peter Turnquest yesterday in a second statement in as many days sought to clarify what he described as “unfortunate and misleading commentary” with respect to the government’s decision. He insisted the government’s decision to rollback its revised definition of
K PETER TURNQUEST, DPM owner-occupied properties was not a bid to appease irate Lyford Cay residents, but the result of weeks of consultation with
BPL exodus leaves up to 60 roles vacant to fill
MICHAEL PINTARD steps we are taking with some urgency. We want to have ongoing dialogue with farmers so we can get timely information and data to inform policy decisions and legislative decisions. The gaps in terms of the timelines for discussion with the farming community is too infrequent and has been
WHITNEY HEASTIE By NATARIO MCKENZIE
Tribune Business Reporter
industry stakeholders. He also insisted the change did not have any impact
BAHAMAS Power and Light (BPL) needs to fill 50-60 key positions vacated during its voluntary separation exercise, its chief executive has confirmed to Tribune Business. The VSEP exercise opened to all employees of BPL on May 18 and closed on June 8. Of BLP’s 1,038 employees, 314 applications were received. The VSEP exercise will result in more than $70m being paid out over time. BPL chief executive Whitney Heastie told Tribune Business: “Certainly some of the folks that left would have been crucial and will have to be replaced. What we did was instead of letting go of those individuals who are critical to the day-to-day operations, we let them them stay on with us, while we determine how we can best work having lost someone of that calibre. That process is still going on. There are some departments that would
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Realtors applaud property tax U-turn as Turnquest seeks to clarify position By NATARIO MCKENZIE
PAGE 2, Thursday, August 9, 2018
DEISHA REALLY IS THE GENIE OUTSIDE THE BOTTLE
F YOU have never met a “genie outside of a bottle” I would say you have not met this brilliant and creative young lady who answers to the name Jerdeshia Moxey. This assertive gal does not own a magic wand, rub a bottle, nor does she pull
rabbits from any of her many hats. “Deisha”, as she is lovingly called, is exceptionally talented as she has found a way to balance three and four artistic projects all at one time. Her passion for art has risen above the norm and
her talents impressively overpowering. Where does her creativity and determination come from? She says it can only be God. Even though this adventurous mother-of-one, might seem to need additional hours in her day
due to her busy life style, humbly she has altered her schedule to talk to me about the one thing that she is passionate about. When did you get your passion start for art and craft and what was your attraction?
My passion for art started from Junior High. I did a lot of paper mache and recycling projects to make cool crafts, turning something old into something new. Were you good at art in school? Yes! How do your clients view your creative inventions? I am often told that they’re very proud of me for having the vision and courage to be a creator. I am a rare breed. I’ve taken the road less travelled. I have dared to innovate. I was told a few time “do not give up Lil Moxey, you are going places - continue to follow your passion.” What is a typical day for you is like? A typical day for me starts most of the time at 6:50am, giving God thanks for another chance on earth, motherly duties prepping for school/T-Ball or whatever occasion. Preparing for work, I often have to fulfil shampoo orders from my Tropical Hair Shampoo Line, sewing, backyard farming and fishing whenever the weather permits. Do you think artists are born or created? In my personal opinion I think artists a born, but it’s up to the individual to find/ notice their natural talent/ gift. Where do you look for creativity? My creativity came from God genealogy. Despite increased technology do you feel the artistic industry is growing or declining? The artistic industry is growing. Artists have stepped out of their comfort zone and started to take risks and chances. (In my personal opinion)
The Art of Graphix BY DEIDRE M BASTIAN
Do you think people who love creating art are extroverts or introverts and if so, why? I think both characters can be creative. But speaking from personal experience I consider myself to be extravert. Why you may ask? I can handle any situation that presents itself to me, I could get along with everyone, love building healthy and positive relationships based on trust and I’m very compassionate about others. (I treat people, the way I wish to be treated.) Do you feel it’s important to teach kids art at an early age? Yes it is important to teach children art early and just talking creativity won’t increase your child’s chances of becoming the next Picasso. You’re also helping him/her to develop mentally, socially and emotionally, says Ecklund-Flores. Creating art may boost young children’s ability to analyse and problem-solve in myriad ways, according to Mary Ann F Kohl, author of Primary Art: It’s the Process, Not the Product. As kids
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Thursday, August 9, 2018, PAGE 3
Pintard promises ‘urgency’ in helping farmers FROM PAGE ONE for a very long period of time and we intend to sixths in the short to medium term.” Bahamian farmers were yesterday said to be eager for a sit down with government to air their concerns. “The government has not yet come to the table to indicate their interest in assisting the farmers except for the subsidies they say are on the books now. There are still difficulties
obtaining the subsidies on the books. There is a lot of talk but nothing really happening for the farmers at this point from the government side,” said president of the Farmers United Association Caron Shepherd. The association has roughly 100 members. Ms Shepherd expressed concerns over subsidies for feed; theft of livestock and goods as well as avenues to get crops and livestock into the local markets and possibly international markets. “The farming industry
has been neglected for many moons. Government after government hasn’t given it the attention it desires in order for it to be profitable the way it should. We are not blaming the government for everything but substantial support is needed from the government for the farmers. The industry has sort of been left to its own devices,” said Ms Shepherd. She added: “We note that we have a new minister and we were giving him a few weeks to get settled before
we have an audience with him. I’m hoping we can have an audience with him before the season begins in September. This is the preparation time now for the farmers to start preparing for the season, come September, October.” The FUA had submitted a proposal in March 2017 to the Christie administration and subsequently to the Minnis administration in May, making its case for $60m worth of government financial assistance, so that its members can recover
from 2016s Hurricane Matthew and livestock deaths. Ms Shepherd stressed that farmers were not looking for “handouts”.
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DEISHA REALLY IS THE GENIE OUTSIDE THE BOTTLE FROM PAGE TWO
manipulate a paintbrush, their fine motor skills improve. By counting pieces and colours, they learn the basics of math. When children experiment with materials, they dabble in science. Most important perhaps, when kids feel good while they are creating, art helps boost selfconfidence. And children who feel able to experiment and to make mistakes feel free to invent new ways of thinking, which extends well beyond the craft room. Do you prefer freelancing or working for a business? Freelancing best describes me, I have the courage and a vision already set. In the next two years, I am definitely looking forward to be doing an artistic business full-time. How would you describe your work? I describe my work as dependable, passionate and unique in one pot. Being loyal to clients is the best part in everything. I focus my eyes on the prize and what I want to achieve. What is your most fulfilling and unfulfilling moments when dealing with customers? My most fulfilling moment is when I could captivate customers with my unique product. They also give me that satisfactory
feeling when they would give me feedback on how good my product/service was. Honestly, I don’t have unfulfilling moments; I look at every moment as a learning experience to improve product or service. (Blocking out the negative energy of others). How important is originality? Originality is important, but it’s not easy. It feels like everything has already been done, so you must have a voice for your brand/idea and make it standout to be truly yours. Which do you feel is more important? Good work with bad attitude or bad attitude and good work? What’s important to me is good work with good attitude. For me it is excellent customer service and presentation. Any inside secrets about your artistic crafts you would like to share? No secrets! Everything is made with love and the race is not for the swift, but for the one who can endure it to the end. What would you say is the magic potion for success in the creative field? Focus on brand new ideas, you must be daring, you must be able to handle criticism, be open minded in the world we are living today. Remember, success and failure in business are
two sides of the same coin, and it is the courage to stand for what you represent no matter what, is what counts. What would you tell young people who are contemplating a profession in this industry? Master in your brand an understand three important levels of creativity, which are discovery, creation and invention. Experience as much as you can. Exposure puts more ideas into your subconscious. Lastly actively seek out new experiences to broaden your experience portfolio. Keep in mind there’s a season for profit and a season for loss, and lastly, “The Sky is Limitless!” Thank you very much for your time. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game! •NB: Columnist welcomes feedback at email@example.com ABOUT COLUMNIST: Ms. Deidre Bastian is a professionally trained Graphic Designer/ Marketing Coordinator with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.
BAY AND PARLIAMENT STREET DOWNTOWN OFFICE 796 SQ. FT SECOND FLOOR I MOVE IN READY I CLOSE TO COURTS AND GOVERNMENT OFFICES I CURRENT TENANTS ARE BANKS, RESTAURANTS AND RETAIL STORES EMAIL: firstname.lastname@example.org I CALL: 242-394-7070 BAHAMAS FINANCIAL CENTRE DOWNTOWN
ONE MARINA DRIVE CLASS ‘A’ BUILDING
702 – 11,865 SQ. FT THIRD FLOOR SPACES I SECURITY I COVERED PARKING AVAILABLE I GENERATOR I FIRE & ALARM SYSTEMS I CURRENT TENANTS INCLUDE FINANCIAL INSTITUTIONS
3,921 SQ. FT THIRD FLOOR | 24 HOUR SECURITY | GENERATOR | PARKING AVAILABLE | PARADISE ISLAND | CURRENT TENANTS ARE TOURISM, SECURITIES AND REAL ESTATE
EAST BAY SHOPPING CENTRE EAST BAY STREET
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1,500 SQ. FT IDEAL SPACE FOR OFFICE, SERVICE OR RETAIL I EASY ACCESS FROM EAST OR WEST I DUAL ENTRY & EXIT I NEARBY BUSINESSES ARE OFFICES, MEDICAL, RETAIL AND SERVICES
635 – 3,672 SQ. FT FIRST FLOOR I HIGH VISIBILITY I GENERATOR I SECURITY I DOWNTOWN LOCATION I CURRENT TENANTS ARE FINANCIAL AND SERVICE BUSINESSES
ROBINSON ROAD PLAZA WESTERN ROBINSON ROAD
WONG’S PLAZA PALMDALE
994 SQ. FT HIGH TRAFFIC RETAIL LOCATION IN BUSY PLAZA I AMPLE PARKING I CURRENT TENANTS ARE RETAIL AND SERVICE BUSINESSES
895 – 3,135 SQ.FT. IDEAL OFFICE SERVICE OR RETAIL IN BUSY PLAZA I AMPLE PARKING I CENTRALLY LOCATED I CURRENT TENANTS INCLUDE RETAIL AND EDUCATION
PAGE 4, Thursday, August 9, 2018
BPL exodus leaves up Realtors applaud property tax U-turn to 60 roles vacant to fill as Turnquest seeks to clarify position FROM PAGE ONE
have lost the entire group, such as the IT department where there is only one person left. Those expertise may be readily available but to find someone with 25 years of transmission and distribution experience is going to be extremely difficult,” Mr Heastie explained. The dates when employees are slated to voluntarily leave BPL have been spread out over two years. Mr Heastie suggested BPL would first look in house to fill its critical roles. “We are evaluating
individuals still in the organisation on their skills, competencies and ability to grow into the roles. If we feel they have the basic skills, competency and capacity to fill the role then we will fill the gap by providing the additional training and development needed to assume the role overtime. It’s an evaluation process for those critical positions where you just can’t find the skill sets in the local community. In areas of IT for instance, a database management, or a network administrator, those positions can be filled quickly filled without any hassle.
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Depending on where the position is in the company, we’re deciding on how we go about it and resolve the shortfall we may have,” said Mr Heastie. He added: “We initially did an assessment of the critical positions and looked at what positions need to be refilled and the number worked out to between 50-60 positions. We asked every department leader to double check and ensure over the next six months that the number they provided is still needed. We are trying to determine whether what we budgeted as the potential net gain is going to be there after all this is said and done.” The utility’s chairman Darnell Osborne had previously stated the VSEP exercise would save BPL between $1-$2m per month, or $12-$24m per year.
Bahamas Protected would like to remind you that the last day for comments to our Marine Protected Areas proposed maps is Friday August 10. Please visit Bahamas Protected on Facebook (www.facebook.com/242protected) to view full color maps and descriptions of proposed MPAs. Click on maps that interest you and provide comments by responding to the three questions: 1 - What activities are currently underway in this area? 2 - What are some of the threats to this area? 3 - If this area was to become an MPA, what are some opportunities or activities you would like to see take place within this area?
Let your voice be heard on this national issue.
FROM PAGE ONE on projected tax income, and as such, could not be viewed as a reduction in the tax rate to any individual or group. “The Government of The Bahamas made no undertaking to reduce any tax rate for any individual or any group with the announced decision to revert to the previous definition of owner-occupied properties,” Mr Turnquest stated. “For real property tax, the government undertook to increase the top end for undeveloped land owned by foreigners. This is what was announced in the budget communication. This is what will remain.” Turnquest reiterated that what government is undertaking to change is the amendment that quantified the time frame for owner-occupied property. “This is being done simply because that amendment had the unintended impact of bringing legitimate and non-commercial home ownership under the commercial property tax rate. And that was not the intent.” He explained that part of the policy issue the government tried to address in the amendment that was passed in Parliament was to make a distinction between seasonal and legitimate second homeowners, that being those persons who use their properties not only as a personal second home but also to rent to other visitors versus those who just maintain a second home strictly for themselves and their family. “That change unfortunately making it seasonal versus six months, threw a category of second home
owners into this commercial category, which was not intended,” said Mr Turnquest. He indicated that government always intended to differentiate between persons who are legitimate owner-occupied versus those who treat their property as a rental property, since the rental property should register as a business and should attract VAT. Mrs Wallace-Whitfield yesterday highlighted the importance of the luxury market to the overall Bahamian economy. “The luxury market is very important to the overall economy of The Bahamas. Whether a family is in residence or not, the ownership of that property generates constant income in terms of jobs, maintenance contracts, all sorts of related expenses. The high net worth individual have a lot of choices, including other parts of the Caribbean and Florida where property tax is quite reasonable and foreigners are welcome with an E-5 Visa that entitles them to residency without intolerable demands,” she added. The government’s decision to reverse course comes after concerns from affluent Lyford Cay residents were published in The Tribune last week, saying the government’s increased property taxes would drive wealthy second homeowners out of the country and deter new ones. In a statement on Tuesday, Mr Turnquest noted the government had sought to increase taxes on foreignowned undeveloped land in The Bahamas, in an effort to discourage land speculation and to encourage development of any such property.
He said the government had also taken steps to improve the tax yield from homes used for commercial purposes by recasting the definition of “owneroccupied” properties and by imposing value added tax on vacation home rentals. The term “owner-occupied property” had been altered to remove the phrase “or seasonal basis”, instead inserting a requirement that an owner must reside in their property for at least six months annually to qualify under this definition. The Bahamas’ second homeowner community, many of whom are in this nation for just a few months per year, ultimately fell out of the “owner-occupied” category and lower tax rates that were reduced in 2016. And, besides the higher tax rate, which the government had doubled from one percent to two percent on the property value above $500,000, they were also set to lose the $50,000 “cap” that set the ceiling, or limit, on how much they pay annually to the Public Treasury. “We understand that Government did not fully appreciate the backlash that the decision to tie six-month residency to a cap on real estate would have but in light of the fear of a mass sell-out and departure, they had the courage to reverse a decision. That is never easy for any official to do, elected or otherwise and so we wanted to express deep appreciation for their willingness to listen to BREA and others. That one move may have just saved hundreds of millions of dollars in real estate value and helped to preserve trust in The Bahamas,” said Mrs Wallace-Whitfield.
Outback unveils plans to head out West FROM PAGE ONE
The August 20 unveil of the new Outback Turks and Caicos precedes similar expansion plans in line for Nassau as well. Construction will begin this fall on Outback Bahamas’ Western NP Providence location with an unveiling date set for Mother’s Day 2019. “Over the next several months, residents in the West will get to see the new restaurant take shape from the ground up,” Mortimer explained. “We are so happy to be able to give our customers who live in western New Providence the great food, great price and service which they have come to know and love a little closer to home”. The New Providence expansion represents an investment of some two million dollars creating hundreds of Bahamian jobs in both the construction and post construction phases – which is of particular importance in light of the current economic climate. “The country’s current economic environment is without question the most difficult to face Bahamian Businesses in recent years” noted Mortimer. “In this age where many businesses have found it difficult to stay afloat we’re happy to have the support of the local community”
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Thursday, August 9, 2018, PAGE 5
High Schoolers Dive into Technology at BTVI YOUNG Kwsaind Turnquest made one of the best decisions when he decided to sacrifice his summer vacation to participate in the Information and Communication Technology Summer Youth Programme at The Bahamas Technical and Vocational Institute (BTVI). Kwsaind has always been a knowledge hungry student, and the ICT program is just one of those things that satisfies his appetite to learn. “I’m excited to continue in this programme because it is going to help me secure my future. It’s a part of achieving my career goal to become a Computer Engineer and Music Producer,” said the 15-year-old. For this video game player, the most exciting part of the programme so far has been learning how to make programmes and video games. He most recently learned how to make his own music in the programme and cannot wait to share his experience with family. Fellow participant, Bria Hanna has always been interested in technology and is excited she finally has the opportunity to learn more about it.
KWSAIND Turnquest (right) assiting his classmate with an assignment. Photo: Shantique Longley “I was hoping that I would degrees in the information be able to establish my technology field after high future career while I’m still school – which they will young and when I learned be able to complete within about this program I was a year, thanks to the ICT like, ‘Wow, that’s it.’ What programme. really excites me about the BTVI’s Chair of Informaprogram is the hands-on tion Technology, Anthony approach. We’re not just sit- Ramtulla said: “With this ting down watching videos; programme, the seed will we’re actually getting to do be planted for these young things,” said the 14-year-old. people to become the leadBria has already begun ing experts in Software sharing her experiences with Engineering, Network Engiher friends and is excited neering and Information to go deeper into program- Technology Management in ming. Her goal is to become the nation.” a lawyer, focusing on cyber BTVI’s Associate crime cases. Vice President of the Both participants plan to continue into one of BTVI’s associate of applied science
NATIONAL LOTTERY - WILCHCOMBE ARGUES FOR FULL STEAM AHEAD FROM PAGE ONE existing gaming companies. The government shouldn’t be hesitating to move. It’s another way of growing our GDP and the revenue base of the government,” said Mr Wilchcombe. He argued a National Lottery would not only be an attractive sell to Bahamians but could also attract at least a million of the five to six million annual tourists who visit The Bahamas. He previously estimated to this newspaper that a national lottery could generate $150$200m per annum. “I’m encouraged and happy to see that the government is talking about it but now you have to move, there’s no benefit in delaying. Look at education, for instance, where the minister is saying they need $9m and only has $6.2m for school repairs. There is also the issue with cutting back on uniform assistance. We really can’t compromise on education. We have to find ways of raising additional revenue and a National Lottery could be the key, Mr Wilchcombe said.
Career Opportunity For a General Accounting Clerk
Qualifications: Computer Literacy, Office Practice Skills, High School Diploma, BGCSE: English Language and Mathematics (Grade C or above). Detailed-oriented, honest, reliable. Knowledge and skills in collection a plus. Offerings: Competitive earnings, benefits, good working conditions. Send resume and standard supporting documents to: email@example.com
DIRECTOR OF ENTERPRISE SOLUTIONS Cable Bahamas Limited is seeking to employ a Director of Enterprise Solutions. Interested persons may apply by forwarding a resume stating their interest, relevant skills, and experience to firstname.lastname@example.org on or before Tuesday, August 14, 2018. JOB SUMMARY The Director of Enterprise Solutions will be the lead in driving the development of technical solutions in both the Commercial and Residential markets within The Bahamas. This role’s primary responsibility is to generate revenue by developing and rolling out products on the fibre and Ethernet networks to enable the increase of sales, using market research, pricing, product communications, advertising and public relations. This position will also be responsible for new business development, product development and distribution channel management. JOB DESCRIPTION Duties will include but are not limited to: •Creating a clear enterprise solution strategy that encompasses all segments incorporating the Company’s mid to long-term strategic and annual business plans; •Maintaining and executing the strategic plan to research, identify and propose commercial and residential solutions and applications, while determining the prioritization and investment across companies; •Developing in depth understanding of networks and plan to maximize the capabilities within product sets. Develops, rationalizes, and aligns product roadmaps for enhancing capabilities; •Monitoring industry trends and evaluate new technologies for potential deployment and/or use to support emerging business needs; •Leading or supports the development of strategic directions and business roadmaps for the current state and the evolution of product deliver; •Initiates and manages engagement with external vendors and internal crossfunctional teams; •Developing strategy to obtain and maintain executive sponsorship/direction and communication. Communicate planning and strategy to executive sponsors, champions, and vendor partners; •Establishing strategic partnership with Sales, Network Operations, Engineering and IT; •Conducting industry analysis and research, develop and present business cases to grow revenue. Identify and develop business cases across companies to drive value such as operational efficiency, organizational effectiveness, cost reduction and revenue growth; •Providing oversight and tracking of financials by product. Completing budgets, forecasts and actuals to ensure alignment; •Leveraging the data and Ethernet communications capabilities with dedicated, high-performance connectivity; •Driving innovative solutions comprising but not limited to the following service offerings; •Ethernet Network Services: • Metro Ethernet Services • SDN-WAN • Hybrid WAN SKILLS, EXPERIENCE & QUALIFICATIONS REQUIRED •Requires BS/BA in a related discipline and 8 plus years of experience in related field (Telecommunications product development) and 5 plus years of experience in developing and implementing business and technology strategies for a telecommunications service provider; •Demonstrated experience in developing and executing product management; •Confident presence in client facing situations, polished verbal and written presentations, effective interpersonal skills, and strong collaboration skills, to partner effectively with teams throughout organization; •Must demonstrate strong people leadership skills, project management and communication skills; •Candidate should possess an understanding of program management; •Knowledge of telecommunications service offerings: Video, Voice, High Speed Data; •Experience in the Caribbean (specifically The Bahamas) and the United States preferred. Qualified applicants should submit Resumes on or before Tuesday, August 14, 2018, to the Director of Human Resources, PO BOX CB-13050, Nassau, Bahamas or send electronically with Ref: Director of Enterprise Solutions to email@example.com.
PAGE 8, Thursday, August 9, 2018
Who’s in, out in small business tax break? It’s complicated
WASHINGTON Associated Press ARCHITECTS and engineers are still in. Accountants, doctors and lawyers remain out — mostly. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law. With the proposed rules issued yesterday, the Treasury Department and the IRS had worked for six months to bring clarity to Congress’ blueprint. But as with many aspects of the sweeping Republican tax law hustled through Congress last year, the requirements for the millions of “pass-through” businesses to score generous tax breaks are stunningly
PRESIDENT Donald Trump signs into law a $1.5tn tax overhaul package in the Oval Office of the White House in Washington. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law. With the proposed rules issued yesterday, the Treasury Department and the IRS had worked for six months to bring clarity to Congress’ blueprint. Photo: Evan Vucci/AP complex. excluded, as are compaSome business owners nies that are organised earning over certain income in certain ways or that levels, for example, are lease their equipment
rather than own it. “They’ve attempted to draw lines that are clearer than the language” of the tax law, said Andrew Howlett, an attorney at law firm Miller & Chevalier who specialises in tax issues. “There are still questions that remain to be answered for taxpayers.” Steven Rosenthal, a senior fellow at the nonpartisan Urban-Brookings Tax Policy Center, said the new regulations “allow a lot of different businesses the 20 percent deduction. ... They allowed a lot of latitude for businesses to claim it.” At the same time, Rosenthal found the protections in the rules against abuse by businesses of the special tax break to be inadequate. “I think there’ll be a lot of gaming of the rules,” he said. There is concern, for example, that to qualify for the deduction, individuals would quit their jobs and then contract their services back to their former employers as independent
contractors. Now the government appears to have prohibited that in the new rules, said Kyle Pomerleau, director of the Center for Quantitative Analysis at the conservative Tax Foundation. The new rules affirm the requirement in the tax law that certain business owners like lawyers, accountants, doctors and consultants can’t qualify for the full deduction if their annual income exceeds $157,000 for single tax filers and $315,000 for couples filing jointly. The amount of the deduction to be claimed declines as taxpayers’ income rises. The same is true for interior designers, investment managers, therapists and others. Many small business owners around the country have been yearning for months to know whether they’ll be pass-through winners or losers. Even with the new regulations, many owners still will likely be turning to tax accountants and other specialists to cut through the confusion.
Millions of businesses — from the Mom-and-Pop grocery store or florist to big law firms, hedge funds and the sprawling Trump Organization — are organised as pass-throughs in which company profits are pipelined into the owners’ personal tax bucket. The owners pay individual, not corporate, tax rates on the income. The vast majority of US businesses, big and small, are taxed this way. The Republican architects of the tax plan and President Donald Trump portrayed the new passthrough tax break as a boon to Main Street businesses and entrepreneurs. Yet with lucrative partnerships and limited liability companies, or LLCs, among the passthrough crowd, lower taxes for them could enable some rich Americans to consolidate their wealth. Before the tax law changes, the majority of pass-through owners were taxed at top individual tax rates, according to the Tax Foundation.
Thursday, August 9, 2018, PAGE 9
GOP congressman from New York charged with insider stock trading NEW YORK Associated Press REPUBLICAN US Rep Christopher Collins of western New York state was arrested yesterday on charges he fed inside information he gleaned from sitting on the board of a biotechnology company to his son, helping family and friends dodge hundreds of thousands of dollars in losses when bad news came out. Collins, 68, is a staunch supporter of President Donald Trump who was among the first two sitting members of Congress to endorse his candidacy for the White House. He pleaded not guilty to an indictment unsealed in Manhattan federal court. The indictment charges Collins, the congressman’s son and the father of the son’s fiancee with conspiracy, securities fraud, wire fraud and making false statements to the FBI. Prosecutors said the charges stem from Collins’ decision to share with his son insider information about Innate Immunotherapeutics Limited, a biotechnology company headquartered in Sydney, Australia, with offices in Auckland, New
REPUBLICAN US Rep Chris Collins of western New York state, right, sits next to President Donald Trump during a meeting with House Republicans in the Roosevelt Room of the White House in Washington. Collins was indicted on charges that he used inside information about a biotechnology company to make illicit stock trades. Collins’ son and a family acquaintance were also charged. The charges were announced and the indictment unsealed yesterday. Photo: Evan Vucci/AP Zealand. Collins was the company’s largest shareholder, with nearly 17 percent of its shares, and sat on its board. According to the indictment, Collins was attending the Congressional Picnic at the White House on June 22, 2017, when he received an email from the company’s chief executive saying that a trial of a drug the company developed to treat multiple sclerosis was a clinical failure. Collins responded to the email saying: “Wow. Makes
no sense. How are these results even possible???” the indictment said. It said he then called his son, Cameron, and, after several missed calls, they spoke for more than six minutes. The next morning, according to the indictment, Cameron Collins began selling his shares, unloading enough over a two-day period to avoid $570,900 in losses before a public announcement of the drug trial results. After the announcement, the company’s stock price plunged 92
percent. Prosecutors said the son passed the information to a third defendant, Stephen Zarsky. Their combined trades avoided over $768,000 in losses, authorities said. They said Zarsky traded on it and tipped off at least three others. US Attorney Geoffrey S Berman told a news conference that Collins was supposed to keep the trial results secret. “Instead, he decided to commit a crime,” he said. “Representative Collins, who, by virtue of his office, helps write the laws of this country, acted as if the law did not apply to him.” Collins, a conservative first elected in 2012 to represent parts of western New York between Buffalo and Rochester, has denied wrongdoing. When the House Ethics Committee began investigating the
stock trades a year ago, his spokeswoman called it a “partisan witch hunt”. “We will answer the charges filed against Congressman Collins in court and will mount a vigorous defense to clear his good name,” his attorneys, Jonathan Barr and Jonathan New, said in a statement yesterday. “It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics stock. We are confident he will be completely vindicated and exonerated.” All three defendants were expected to be freed on $500,000 bail yesterday after they pleaded not guilty. Collins has a track record of publicly backing Trump, most recently calling for an end to Special Counsel Robert Mueller’s probe into campaign collusion and
blaming the Obama administration for failing to push back on Russia. “I share President Trump’s continued frustration as the left continues to try to nullify the 2016 Presidential election with claims of Russian interference,” he said. Yesterday, House Speaker Paul Ryan said he was removing Collins from the House Energy and Commerce Committee, calling insider trading “a clear violation of the public trust”. In a written statement yesterday, House Minority Leader Nancy Pelosi, D-Calif, said the charges against Collins “show the rampant culture of corruption and self-enrichment among Republicans in Washington today”. Buffalo Mayor Byron Brown, a Democrat, called on Collins to resign.
VICE PRESIDENT MARKETING A progressive company is looking for a Vice President of Marketing. This position will be responsible for the strategy, tactics and programs to create interest, demand and recognition for the company’s products through the use of PR, Product Marketing, Creative Services, Advertising, Strategic Relationships, Direct, Event, Channel, Digital and Online Marketing. The ideal candidate must be well rounded in all aspects of marketing and sales methodology to both vertical and consumer customers. Extensive knowledge of technical markets, pricing models, consumer packaging, channels of distribution, technology trends, customer buying patterns, budgeting, public and investor relations, advertising, statistics and analysis, P&L background, direct marketing, telemarketing, planning skills, database marketing, competitive strategies, event marketing, channel marketing, merchandising, product marketing, product management, team management, presentation, sales and strong training skills during high growth stages. Core Responsibilities include:• Product management, pricing and business performance management for a company’s major lines of business; • Product life cycle management which includes all aspects of service development and evolution of the product; • Manages operating and expense budgets effectively to maximize profitability and minimize impacts on corporate costs; • Ensures all activities exemplify the corporate image and brand of the company; • Creates a highly effective team fluent in current industry trends, technology changes and market conditions; • Ensures products adhere to applicable policies, practices, regulations, and privacy requirements; • Product portfolio which includes revenue, subscribers, market, share and churn targets • Portfolio plan development and business performance of products including profitability, expense management, and inventory management; • Provides inputs into the forecasting process and ongoing forecasting updates; • Identifies emerging areas of focus and high quality ideas in consultation with product marketing, technology, operations and senior management; • Leads cross-functional multi-disciplined teams in the research, evaluation, system design, requirement definition and process development for service delivery; • Negotiates, establishes and maximizes third party relationships that deliver advantageous results and protect the company’s interests; • Ensures that the company’s products and pricing are positioned competitively through proactive monitoring and research of the marketplace and competitors; • Spearheads timely tactics to counter competitive threats; • Ensures channels to market are supported and effectively maintained by providing sales aids, value propositions, product information and sales training for all marketing-related initiatives; • Drives marketing activity to ensure alignment with marketing plans, and gains the understanding and commitment of stakeholders; • Provides marketing leadership, direction and coaching to inspire, motivate and enable a positive and productive work environment for direct reports and cross-functional teams; • Create key performance metrics to measure customer experience and brand awareness, capturing customer behavior, analysis of results, and development of cross-departmental recommendations. Required Skills, Experience & Qualifications • A Bachelor’s degree in Marketing, Branding or related field; • Ten (10) plus years’ experience in a senior marketing role; • Demonstrated experience and leadership in managing comprehensive strategic; marketing, communications, media relations, and marketing programs to advance an organization’s mission and goals; • Superior management skills with the ability to influence and engage direct and indirect reports and peers; • Ability to manage influence through persuasion, negotiation, and consensus building; • Combined background of post-sale and sales experience an asset; • Strong empathy for customers AND passion for revenue and growth; • Analytical and process-oriented mindset; • Excellent communicator with superior verbal, written, interpersonal, technical and presentation skills; • Ability to think critically and problem solve in a fast-paced environment. Qualified applicants should submit Resumes on or before, August 15, 2018 electronically to the following email address: firstname.lastname@example.org with Subject: Vice President Marketing.
PAGE 10, Thursday, August 9, 2018
Ford celebrates production of ten million Mustang sports cars FLAT ROCK, MICHIGAN Associated Press Ford Motor Co marked production of the ten
millionth Mustang with celebrations yesterday at the automaker’s headquarters and at the Flat Rock Assembly Plant where the
iconic sports car is made. A parade of Mustangs from 1964 to the present day rolled into the parking lot at the Dearborn
IN THIS photo provided by the Ford Motor Co, Mustang vehicles are parked to spell out “10,000,000” on a parking lot at the Flat Rock Assembly plant yesterday in Flat Rock, Mich. The commas were represented by the first Mustang produced and the ten millionth, a 2019 Wimbledon White GT V8 six-speed manual convertible. Photo: Ford/AP headquarters before making the 30-minute drive — complete with police escort — to the Flat Rock complex. There, the cars were organised into a configuration that spelled out “10,000,000”. The commas were represented by the first Mustang produced and the ten millionth, a 2019 Wimbledon White GT V8 six-speed manual convertible. Mustang is the best-selling sports car of the last 50 years in the US and the world’s top-selling sports car for three years in a row, according to company analyses. “Today, when we say the word, ‘Mustang,’ isn’t COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law & Equity Division BETWEEN PREMIER IMPORTERS LIMITED
AND BOUCH MAINTENANCE COMPANY LTD. _______________
JAMES BOUCHER P. O. Box N-7422 Western District New Providence, Bahamas
LESLIE MOORE Second Defendant
1. On the 19th June ,A.D., 2018 a Writ of Summons was issued against you in the Supreme Court of The Bahamas being Action No. 2018/CLE/gen/00701 by Premier Importers Limited, the Plaintiff herein, wherein the Plaintiff’s claim against you is for the sums due and owing under a Credit Account numbers BO145 and BO145B, respectively. 2. It has been ordered that service of the said Writ of Summons in the said Action be effected on you by virtue of this advertisement.
LESLIE MOORE New Providence, Bahamas
An action has been commenced against you by Premier Importers Limited in the Supreme Court of The Bahamas by Writ of Summons filed on the 4th day of August A.D. 2015 (renewed by Order granted on the 2nd day of August, A.D., 2018) in Action No. 2015/CLE/gen/01138, wherein the Plaintiff’s claim against you is for sums due and owing under a Credit Account numbered MO328.
It has been ordered that service of the said Writ of Summons in the said Action be effected on you by virtue of this advertisement.
You must within 14 days from the publication of this advertisement inclusive of the day of such publication, acknowledge service of the said Writ of Summons by entering an Memorandum of Appearance on the Attorneys whose name and address appear below, otherwise judgment may be entered against you. Dated the 9th day of August, A.D., 2018
Dated the 9th day of August, A.D., 2018
J. Dean Chambers St. Alban’s Drive, Nassau, Bahamas. Attorney for the Plaintiff
J. DEAN CHAMBERS St. Alban’s Drive, Nassau, Bahamas. Attorney for the Plaintiff
PREMIER IMPORTERS LIMITED AND ALEXANDER JAMES RAHMING ______________________
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division BETWEEN PREMIER IMPORTERS LIMITED AND
DENE HALES _______________
NOTICE _____________________ TO:
TAKE NOTICE that:
3. You must within 14 days from the publication of this advertisement inclusive of the day of such publication, acknowledge service of the said Writ of Summons by entering an Memorandum of Appearance on the Attorneys whose name and address appear below, otherwise judgment may be entered against you.
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division BETWEEN
BOUCH MAINTENANCE COMPANY LTD. c/o Registered Agent – MCA Corporate Services Ltd. New Providence, Bahamas
TAKE NOTICE that:
PREMIER IMPORTERS LIMITED
NOTICE ________________ TO:
“Ford says that I am the first person to buy a Mustang,” the Park Ridge, Illinois, resident said while standing next to her prized possession outside Ford’s office complex. Then a 22-year-old school teacher, Wise strolled into Johnson Ford in Chicago on April 15, 1964, and left the owner of a brand-new car — one that still resonates with so many. “Fifty-four years ago I bought a car, (and) we’re still talking about it,” said Wise, who bought the baby blue Mustang for $3,447.50. “I said I feel like a movie star at 76 as well as I did at 22.”
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division BETWEEN
AND JAMES BOUCHER
it amazing that you don’t think of the horse? You think of the vehicle,” Ford CEO Jim Hackett said at the Dearborn gathering after strolling through the lines of sports cars. “It’s changed the perception because of its popularity.” During its 54-year production history, the Mustang was built in San Jose, California, and Metuchen, New Jersey, as well as at the original Mustang production facility in Dearborn. These days, Flat Rock is the home of the Mustang. Technically, the car’s first home belonged to Gail Wise, who holds an important place in Mustang lore.
ALEXANDER JAMES RAHMING P. O. Box SB- 50236 New Providence, Bahamas
TAKE NOTICE that: 1. An action has been commenced against you by Premier Importers Limited in the Supreme Court of The Bahamas by Writ of Summons filed on the 4th day of August A.D. 2015 (renewed by Order granted on the 2nd day of August, A.D., 2018) in Action No. 2015/CLE/gen/01136, wherein the Plaintiff’s claim against you is for sums due and owing under a Credit Account numbered RA117. 2. It has been ordered that service of the said Writ of Summons in the said Action be effected on you by virtue of this advertisement. 3. You must within 14 days from the publication of this advertisement inclusive of the day of such publication, acknowledge service of the said Writ of Summons by entering an Memorandum of Appearance on the Attorneys whose name and address appear below, otherwise judgment may be entered against you.
DENE HALES # 24 Royal Palm Estates Carmichael Road New Providence, Bahamas
TAKE NOTICE that: 1. On the 18th January, 2016 a Judgment in Default of Appearance was issued against you in the Supreme Court of The Bahamas being Action No. 2015/CLE/gen/01130 by Premier Importers Limited, the Plaintiff/Judgment Creditor herein. 2. Further, an Order for Examination was issued against you on the 19th July 2018, in the Supreme Court of The Bahamas in the aforesaid Action by the Judgment Creditor herein. Details of the Judgment and Order for Examination are set out in the Affidavit of Christopher Lleida filed herein on the 13th day of July, 2018. 3. The Hearing Date for the said Examination is set for the 13th day of September A.D., 2018 at 12:00 o’clock in the afternoon before the Deputy Registrar, Mrs. Camille Darville Gomez, whose Chambers is located on the 2nd Floor, Ansbacher House, East Street North, Nassau, Bahamas. 4. You must attend the above-mentioned Examination otherwise you will be liable to process of execution for the purposes of compelling to you to obey same.
Dated the 9th day of August, A.D., 2018
Dated the 9th day of August, A.D., 2018
J. Dean Chambers St. Alban’s Drive, Nassau, Bahamas. Attorney for the Plaintiff
J. Dean Chambers St. Alban’s Drive, Nassau, Bahamas. Attorney for the Judgment Creditor
Thursday, August 9, 2018, PAGE 11
Bill Clinton’s debut novel is a million seller NEW YORK Associated Press BILL CLINTON is a now a million-selling novelist. “The President is Missing,” a thriller co-written with James Patterson, has more than one million combined hardcover, e-book and audio sales in North America alone since coming out June 4. The book is Clinton’s first work of fiction, but in Patterson he had one of the world’s most prolific and successful novelists for a collaborator. Reviews were mixed, but Barnes & Noble fiction buyer Sessalee Hensley said in a statement released yesterday by co-publishers Alfred A Knopf and Little Brown and Co that “The President is Missing” had benefited from “very
strong” word of mouth. “In a summer marked by nonfiction successes, this novel has proven to have remarkable legs,” Hensley said. The book’s subject has also proved timely: a potentially devastating cyberattack, which intelligence experts have called a leading concern. Director of National Intelligence Dan Coats said in mid-July that “the warning lights
PRESIDENT Bill Clinton holds a copy of “The President is Missing” at Book Revue, in Huntington, NY. The book, co-written with James Patterson, has more than one million sales in North America. Photo: Scott Roth/Invision/AP
are blinking red” about a possible attack and called Russia the “most aggressive foreign actor, no question”. The Clinton-Patterson novel has dominated fiction charts. According to NPD BookScan, which tracks around 85 percent of the hardcover and paperback market, “The President is Missing” is by far the year’s biggest fiction seller and the only fiction work
to crack the top ten of the best-sellers overall for 2018. Nonfiction releases such as Michael Wolff’s “Fire and Fury” and James Comey’s “A Higher Loyalty” have been attracting the most sales. Clinton, whose previous books include the memoir “My Life”, is now the rare author to have million sellers in fiction and nonfiction.
PAGE 12, Thursday, August 9, 2018
US STOCK INDEXES DIP AS OIL PRICES SINK ENERGY COMPANIES
NEW YORK Associated Press A LATE gain for US stocks slipped away yesterday as a four-day winning streak ended. Energy companies sank along with the price of oil. The price of crude oil fell more than three percent yesterday. Big dividend payers and industrial companies
slipped. Gains for Microsoft, Facebook and Alphabet helped technology companies finish higher. Banks and health care companies also rose. The US and China both announced new tariffs: later this month each country will put a 25 percent tax on $16bn in goods imported from the other. Both countries placed tariffs on $34bn in imports
earlier this month, and they have threatened much larger tariffs to come. But investors have been focusing on rising company earnings instead. Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said US companies are expecting bigger profits in spite of the tariffs. “That speaks to me a lot
louder than a lot of negative headlines,” she said. “Companies have gotten very good at minimising their costs and being very efficient with what they have.” The S&P 500 index dipped 0.75 points to 2,857.70. The Dow Jones Industrial Average fell 45.16 points, or 0.2 percent, to 25,583.75. The Nasdaq composite rose 4.66 points, or 0.1 percent, to
7,888.33. The Russell 2000 index of smaller stocks lost 1.42 points, or 0.1 percent, to 1,686.88. The Trump administration plans to tax Chinese industrial products such as steam turbines and iron girders starting Aug 23. China’s government said it will put tariffs on US goods including cars, crude oil and scrap metal starting on the same date. Oil futures fell sharply. US crude oil lost 3.2 percent to $66.94 a barrel in New York. Brent crude, the standard for international oil prices, fell 3.2 percent to $72.28 a barrel in London. Exxon Mobil lost 0.7 percent to $80.73 and Chevron dipped one percent to $123.88. Snap, which runs the Snapchat video app, fell 6.8 percent to $12.23 after it said daily users fell during the second quarter. It’s the latest technology company to have its stock drop after announcing discouraging user totals, joining Facebook, Twitter and Netflix. Match Group, the parent of online dating companies including Match.com and OKCupid, bucked that trend. Its stock jumped 17.3 percent to $45.60 after Match reported big gains in subscribers, especially for Tinder. Its adjusted profit and revenue beat Wall Street projections. Drugstore and pharmacy benefits manager CVS raised its annual profit forecast and rose 4.2 percent to $68.17. CVS said prescriptions sales grew, although it took a loss after it wrote down the value of its Omnicare pharmacy services business by almost $4bn.
In April, construction equipment company Caterpillar said it doubted it would top its first-quarter profit for the rest of this year. Investors were concerned that that might hold true for the rest of corporate America, but so far it hasn’t. A month ago analysts expected the companies of the S&P 500 to earn $160.32 per share in 2018. That’s risen by almost a dollar, to $161.29 a share. Their estimates for 2019 have risen by a bit more than a dollar, to $177.52 a share from $176.38. Twinkie maker Hostess Brands plunged 17.6 percent to $11.49 after it said its results were hurt by cuts in promotional support and inventory from a major retailer and higher costs, including for transportation. Pizza maker Papa John’s fell 5.2 percent to $38.94 after it said North American sales fell again. The company also cut its forecasts for the year. Papa John’s is in a public spat it with founder John Schnatter, who was ousted as chairman in July after a report he used a racial slur in a conference call. Domino’s, a rival pizza delivery company, climbed 3.4 percent to $286.92. Walt Disney fell 2.2 percent to $113.98 after the entertainment company’s profit and revenue fell short of analysts’ estimates. Cars.com and Avis Budget Group both sank after cutting their sales forecasts. Rental car company Avis skidded 15.2 percent to $32.85 while Cars.com, an online auto marketplace, dipped 2.6 percent to $27.29.
MARKET REPORT WEDNESDAY, 8 AUGUST 2018
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,943.21 | CHG 0.00 | %CHG 0.00 | YTD -120.36 | YTD% -5.83 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 19.17 7.50 4.10 1.39 0.19 3.92 9.16 6.60 5.30 11.93 2.71 1.77 8.21 6.21 11.50 7.29 13.67 13.00
52WK LOW 3.50 19.17 7.50 3.32 0.90 0.12 2.90 8.50 6.09 3.32 9.00 2.30 1.40 7.25 6.00 9.50 5.67 3.25 12.50
1050.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01
1.00 100.00 100.00 100.00 100.00 100.00 100.00 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 E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00
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 ##########
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
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
SECURITY Fidelity Bank Note 22 (Series B) +
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 4.45 17.43 9.09 4.06 1.00 0.18 2.90 9.13 6.15 3.75 11.42 2.75 1.75 7.92 6.21 11.25 6.35 3.75 13.00
CLOSE 4.45 17.43 9.09 4.06 1.00 0.18 2.90 9.13 6.15 3.75 11.42 2.74 1.75 7.93 6.21 11.25 6.35 3.75 13.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
108.35 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
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
LAST SALE 100.00 108.34 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EPS$ 0.268 0.932 -0.306 0.283 -0.973 0.000 -0.996 0.638 0.573 0.171 0.627 0.102 0.231 0.000 0.545 0.679 0.719 0.277 0.631
DIV$ 0.100 1.130 0.000 0.230 0.000 0.010 0.000 0.710 0.220 0.120 0.620 0.060 0.070 0.084 0.320 0.500 0.200 0.120 0.580
P/E 16.6 18.7 N/M 14.3 N/M N/M -2.9 14.3 10.7 21.9 18.2 26.9 7.6 N/M 11.4 16.6 8.8 13.5 20.6
YIELD 2.25% 6.48% 0.00% 5.67% 0.00% 5.56% 0.00% 7.78% 3.58% 3.20% 5.43% 2.19% 4.00% 1.06% 5.15% 4.44% 3.15% 3.20% 4.46%
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% 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%
MATURITY 19-Oct-2022 ############### 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
MUTUAL FUNDS 52WK HI 2.16 4.16 2.00 180.30 157.58 1.56 1.70 1.64 1.10 6.99 8.54 6.15 10.52 11.46 10.46 9.93 8.45 11.20
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.50 1.62 1.58 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.93 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 2.16 4.12 2.00 180.30 155.10 1.56 1.70 1.65 1.09 7.24 8.28 6.46 11.16 11.65 10.26 9.93 8.45 11.20
YTD% 12 MTH% 1.87% 3.98% -0.44% 4.28% 1.05% 2.26% 0.90% 3.44% 1.11% 6.05% 2.14% 4.33% 0.17% 4.01% 1.67% 4.18% -0.96% 0.73% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.61% 0.75% 1.13% N/A 2.95% N/A
NAV Date 30-Jun-2018 30-Jun-2018 29-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018
NOTICE Trafalgar Overseas Co. Ltd. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Trafalgar Overseas Co. Ltd. is in dissolution as of August 7th, 2018.
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
International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
Thursday, August 9, 2018, PAGE 13
China exports accelerated in July despite rise in US tariffs
BEIJING Associated Press CHINA’S exports to the United States surged last month as its merchants rushed to fill orders ahead of a jump in US tariffs on Chinese goods. Its shipments to the United States climbed 13 percent in July from a year earlier, to $41.5bn, after a roughly similar rise in June, customs data show. At the same time, Beijing’s trade surplus with the United States — a frequent source of anger and threats from President Donald Trump — grew 11 percent to $28bn. Chinese exporters appear to be trying to ship their goods to the United States before tariffs that Trump is imposing in a fight over technology policy take full effect. The trade war between the world’s two biggest economies has forced many multinational companies to reschedule purchases and rethink where they buy materials and parts to try to dodge or blunt the effects of titfor-tat tariffs between Washington and Beijing. Beijing has warned that its exporters face “rising instabilities” after Washington slapped 25 percent duties on $34bn of Chinese goods last month in response to complaints that China steals or pressures foreign companies to hand over technology. Beijing has retaliated against the US tariffs with higher duties on a similar amount of American goods. On Tuesday, the Trump administration announced that it would proceed with previously announced 25 percent tariffs on an additional $16bn of Chinese imports starting Aug 23. On
yesterday, China hit back by saying it would impose identical 25 percent punitive duties on $16bn of US goods, including cars, crude oil and scrap metal, also to take effect Aug 23. A Commerce Ministry statement labeled Trump’s decision to go ahead with the latest US tariffs “very unreasonable”. Beijing’s retaliatory move was a “necessary response” to “safeguard its legitimate interests”, the ministry said on its website. Escalating its tensions with Beijing, the Trump administration has also threatened to impose penalties on an additional $200bn in Chinese exports to the United States. Beijing says it is ready to retaliate against $60bn of American imports. (Beijing cannot tax an equal amount of US products, because the United States exports far fewer goods to China than it imports.) Tariffs are taxes on imports. They are meant to protect homegrown businesses and put foreign competitors at a disadvantage. But the taxes also exact a price on domestic businesses and consumers who buy imports and end up paying more for them. In July, China’s global exports surged 12 percent, even faster than an 11
percent increase in June. At the same time, overall imports to China jumped 27 percent last month. Exports to the rest of the world might have been boosted by a weaker Chinese currency. The yuan has declined by eight percent this year against the dollar and by about four percent against a basket of global currencies. A weakening currency makes a nation’s goods more affordable for overseas buyers. China’s trade conflict with the United States, coupled with weakening global demand, has compounded the challenges for Beijing. Economic growth has slowed since regulators tightened controls on bank lending to rein in surging debt. The unusually strong July import figures reflected higher prices, according to Julian Evans-Pritchard of Capital Economics. “We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather
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INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, DAVANTE DEXTER AKEEM THOMPSON, of Bamboo Town, #13 Ferguson Drive, South Beach, New Providence, Bahamas intend to change my name to DAVANTE DEXTER AKEEM ARMBRISTER. 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.
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division
BETWEEN FINANCE CORPORATION OF BAHAMAS LIMITED AND ADINA DIANA ESTHER LOUISE MUNROE To:
Adina Diana Esther Louise Munroe
TAKE NOTICE that an action has been commenced against you in the Supreme Court of the Commonwealth of the Bahamas by Finance Corporation of Bahamas Limited, RBC FINCo Mortgage Centre, situate at RBC Financial Centre, Carmichael Road, New Providence, Bahamas, in which the Plaintiff ’s claim is set out in the Writ of Summons filed in this action on the 3rd day of April A.D., 2017 seeking an Order for leave to enter Judgment against you for the sums outstanding under the Indenture of Mortgage dated the 12th day of August A.D., 2005 and the Indenture of Mortgage dated the 11th day of January A.D., 2008 in connection with the mortgaged property being Unit Numbered 5 High Vista Condominium situate at High Vista Phase II Subdivision in the Eastern District of the Island of New Providence, Bahamas. And that it has been ordered that the publication of a notice of the entry of the Summons filed on the 7th day of November A.D., 2017 and the Affidavit filed on the 6th day of December A.D., 2017 in the Nassau Guardian newspaper and The Tribune newspaper shall be deemed to be good and sufficient service of the said documents on you. The said Summons will be heard before the Deputy Registrar of the Supreme Court, Mrs. Camille Darville-Gomez, at the Supreme Court Registry, Ansbacher House, East Street, Nassau, New Providence, Bahamas, on Tuesday the 18th day of September A.D., 2018 at 11:30 o’clock in the forenoon, on which day you are to appear, and if you do not appear either in person or by your Attorney at the time and place abovementioned, such Order will be made as the Court thinks just. A copy of the said Summons and Affidavit may be obtained from the Supreme Court Registry, Ansbacher House, East Street, Nassau, New Providence, Bahamas, or from the Attorneys for the Plaintiff below mentioned. Dated the 9th day of August A.D., 2018. HIGGS & JOHNSON Ocean Centre Montagu Foreshore East Bay Street Nassau, New Providence, Bahamas. Attorneys for the Plaintiff.
than US tariffs,” EvansPritchard said in a report. “Import growth is likely to slow as domestic headwinds continue to weigh on economic activity.” China’s global trade surplus narrowed by 40 percent from a year earlier to $28bn. In the meantime, its trade gap with the 28-nation European Union
contracted eight percent to $11.2bn. China is running out of American goods to hit with retaliatory tariffs given the two nations’ lopsided trade balance. Last year’s imports from the United States totaled about $130bn. That leaves only about $20bn for penalty tariffs after increases that have already
been imposed or threatened on US goods are counted. Beijing has stepped up efforts, so far without success, to recruit governments including Germany and France as allies. Those nations have criticised Trump’s tactics, but they share US complaints about Chinese industrial policy and market barriers.