08132018 BUSINESS

business@tribunemedia.net

MONDAY, AUGUST 13, 2018

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‘Virtual’ initiative will aid over-thehill project

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A “VIRTUAL bonded warehouse” concept is being “fine tuned” to facilitate the importation of duty free goods under the Over-the-Hill Economic Empowerment Zone initiative, the project’s lead executives have confirmed.

Kemie Jones, project manager, told Tribune Business: “We are still fine tuning exactly how this mechanism is going to work. Conceptually we are thinking that it may not be a physical warehouse but a virtual warehouse. The idea behind it is similar to what happens in Freeport - you have a warehouse with some items duty free and some items that are duty paid. Vendors can pull down on different inventory depending on who the person is and whether they qualify or not.”

Mr Jones added: “Persons who live in the zone - upon application and approval if they meet certain criteria - then they would be able to participate and get the duty concessions when they import the items. The long-term strategy is that as we continue rolling out the programme in other areas you can have local vendors where you can go and purchase items from and get a credit there for the duty already paid.

This is something NEMA would have done in the past and we are looking at the very same concept.”

According to the Economic Empowerment Zone Bill, businesses in good standing within the zone, which encompasses Nassau Street to Poinciana Drive, Wulff Road, and upwards to the western area of Collins Avenue, would be given a certificate of trade and could receive a business licence fee waiver if they make less than $5m a year, customs duties waivers on the importation of commercial vehicles strictly for business usage and exemptions from excise taxes.

Property developers would be issued a certificate of development and would be exempt from real property taxes, excise taxes, stamp duties and customs duties on materials needed for construction

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$4.93

Land’Or workers claim they’re owed 49 weeks unpaid wages

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

E

MPLOYEES at Club Land’Or claim they are owed as much as 49 weeks pay according to Labour Director John Pinder, with the resort’s attorney acknowledging the property is having “challenges”.

Mr Pinder told Tribune Business: “Some of the staff have complained to the Department of Labour that they are owed as much as 49 weeks in salary and Club Land’Or has not been able to pay. On Friday, we got a call that some attorneys wanted to meet with them one on one to explain the position in which Club Land’Or finds itself in at this time,” said Mr Pinder.

“Since they weren’t getting any salary no union dues were being deducted but technically they are still under the Bahamas Hotel Catering and Allied Workers Union (BHCAWU). I had advised them to reach out to the union.”

Darren Woods, president of the Bahamas Hotel Catering and Allied Workers Union (BHCAWU) told Tribune Business that he would investigate the situation today as he had just recently returned to the country. The hotel union filed a trade dispute on behalf of Club Land’Or employees against the Paradise Island property back in 2016. At that time the property was said be to in “serious financial straits”.

The small Paradise Island resort has long been regarded as a troubled property and in 2012 managed to head-off a Supreme Court application by creditors to place

THE CLUB Land’or property, Paradise Isalnd.

it into receivership.

During the two years that Club Land’Or was being actively marketed for sale, its price dropped from $43m to $38m, with Atlantis said to be among previously interested purchasers. No deal ever materialised, however.

In a previous interview with this newspaper, the resort’s general manager, Prince Ellis - who was said to be travelling out of the country when sought for comment by

Tribune Business - stated the resort’s owners were seeking a “unique sale” and have no intention to sell unless the buyers meet very specific criteria.

Last October, Labour Minister Dion Foulkes indicated that government was seeking to resolve numerous complaints over back-pay.

The resort is said to have between 40 to 60 staff members, estimates which could not be confirmed as current by its attorney

Bernard Ferguson. He confirmed that he had met with staff to outline the resort’s challenges.

“We updated the staff on what the situation is and some of the challenges.

Club Land ‘Or is having challenges at the moment.

We are just trying to keep the employees up to. It is common knowledge that the entity is in the process of being sold. The company is trying to do its best to keep everyone happy.”

$4.93 ‘Give us licence to prove medical marijuana works’

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A GROUP advocating for the development of a marijuana industry in The Bahamas is seeking a “three to five year” research and development licence to grow and research certain medical attributes of marijuana.

According to the BACARI, given current trends, “it is only a matter of time” before the entire United States and the majority of Caribbean countries follow the path of marijuana legalisation.

In a letter addressed to Health Minister Dr Duane Sands, Terry Miller, the organisation’s chairman, stated: “We are requesting a three to five-year research and development licence which would allow us to grow, develop and carry out testing on patients with specific ailments that cannabis has shown positive results with.

“Along with our consultants and partners, our goal is to become a leader in scientific research of not only cannabis, but an array of Bahamian cultural bush medicines, and other natural plant remedies, by establishing one of the best research facilities in the western hemisphere. Our farm, nursery and lab will train and employ scores of young farmers, technicians and scientists within the next three years, and we expect dozens of patents coming out of our research.”

Mr Miller added: “We will build on tested quality products, and develop standardised dosing regiments, using already documented scientific information to design and develop new products for the industry. We will follow

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Helping hands for small businesses

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net SMALL businesses will soon have access to a suite of “hand holding” services aimed at ensuring their viability, according to the head of the Small and Medium Business Development Centre (SBDC) who noted access to capital was not the only “major” challenges such businesses face.

According to Davinia Blair, the centre’s executive

DAVINIA BLAIR

director, the SMBDC, the non-profit entity which is a partnership initiative with the University of The Bahamas (UB), the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) and the Bahamian government will launch its services next month.

The SBDC is designed to build the institutional framework and support for micro, small and mediumsized enterprises (MSMEs) in their initial development stages.

“The launch date is September 20. The moment we launch based on the partnership that we have we will be able to affect all where there is representation of the Chamber immediately and spread to the others where there may not be direct representation,” said Ms Blair during a recent Over-The-Hill economic revitalization community meeting.

Ms Blair noted that

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PAGE 2, Monday, August 13, 2018

THE TRIBUNE

‘Virtual’ initiative will aid over-the-hill project FROM PAGE ONE of buildings and structures. The legislation also provides for stiff penalties such as persons being fined twice the value of exemptions given and jail time for fraud.

According to the legislation now passed, businesses behind on National Insurance

Board contributions, business license fees and real property taxes will not be granted concessions through the Over-the-Hill revitalisation programme.

According to NIB data, there are over 2,000 registered businesses, with 33 percent being in the retail sector. Some 11,400 people are employed in this inner city area.

‘Give us licence to prove medical marijuana works’ FROM PAGE ONE best industry standards on the farm, in the greenhouses, in the research facility and in the way we operate.”

Miller has previously told Tribune Business the economic economic benefit of a Bahamian marijuana industry is potentially in the tens of millions of dollars.

Helping hands for small businesses FROM PAGE ONE business advisory services is one of the SMDC offerings.

“Having canvassed a number of financial institutions looking to help small business in the past, we found that the major problem may not have been only access to capital. There is much more to it required to make this work. The business advisory services will be critical not just for start-ups but also business already in existence and would like to expand,” she said.

Ms Blair noted SMDC advisors will be able to assist in market research for those looking to start a business and financial analysis to

YOUR

help start-ups strategise the future of their company.

“This is a very hands on process,” said Ms Blair.

“You will actually have access to advisory services for up to the first three years of your relationship with the centre, with SMEs to benefit from ‘hand holding’.

The incubation will allow us to watch what you’re doing, and be a resource for you.”

Ms Blair also underscored the importance of training and mentorship which the SMDC will also offer.

With regards to access to capital, Ms Blair noted while the centre will not directly provide funding, it will facilitate the necessary steps to be able to qualify for funding.

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THE TRIBUNE

Monday, August 13, 2018, PAGE 3

Florida Gov wants proof from Sen Nelson over hacking claim TALLAHASSEE Associated Press FLORIDA Gov Rick Scott, calling the allegations sensational, demanded on Friday that US Sen Bill Nelson provide proof to back up his statement that Russian operatives have penetrated some of his state’s election systems ahead of this year’s crucial election.

Scott, a Republican, is running against Nelson, a Democrat, in November’s midterm elections. During a campaign stop in Tampa, Scott said Nelson must provide “evidence for his claims”.

“This cannot be swept under the rug,” said Scott.

“Bill Nelson must come clean and provide a thorough explanation. Elections are not something to try to scare people about.”

Nelson late Friday did not comply with Scott’s request and instead said he was trying to make sure officials in his home state are “aware of the ongoing Russian threat so they take the steps necessary to safeguard our elections. It’s unfortunate that some Florida officials would try to use this issue for personal, political gain”.

Nelson earlier in the week said that Russians were able to get inside the election systems of “certain counties” and “now have free rein to move about”.

He added that “the threat is real and elections officials — at all levels — need to address the vulnerabilities”.

The senator, who is the ranking member of the cyber subcommittee of the Senate Armed Services Committee, has not provided any more details, saying that additional information is classified.

Florida officials responded angrily to Nelson’s comments and said they had “zero information” to back up claims of Russian meddling. Secretary of State Ken Detzner, who himself has barely discussed the previous 2016 effort to hack Florida’s election systems, sent a letter to the chairman of the Senate Intelligence Committee, asking for “immediate transparency and co-operation” in sharing any information about new hacking efforts.

But North Carolina Sen Richard Burr, the chairman of that committee, declined to confirm or deny Nelson’s

carefully worded statement where he also did not confirm or deny Nelson’s allegations.

“Given the importance of Florida in our national politics, our states election

systems have been and will remain a potentially attractive target for attacks by foreign actors,” Rubio said.

US Rep Tom Rooney, a Florida Republican and a

member of the House Intelligence Committee, said, “I have seen no evidence that Russians penetrated Florida’s election system — but it definitely could happen.”

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SEN BILL NELSON, D-Fla, speaks during a roundtable discussion with education leaders from South Florida at the United Teachers of Dade headquarters in Miami. Nelson says Russian operatives have penetrated some of his state’s election systems ahead of this year’s midterms. But Florida state officials said last Wednesday that they have no information to support the claim.

Photo: Lynne Sladky/AP

FLORIDA Gov Rick Scott, calling the allegations sensational, demanded on Friday that US Sen Bill Nelson provide proof to back up his statement that Russian operatives have penetrated some of his state’s election systems ahead of this year’s crucial election.

Photo: Wilfredo Lee/AP claims.

“While I understand your questions regarding Senator Nelson’s recent public comments, I respectfully advise you to continue engaging directly with those federal agencies responsible for notifying you of and mitigating any potential intrusions,” Burr wrote.

Sara Sendek, a spokeswoman for the Department of Homeland Security, issued a statement Wednesday that said: “While we are aware of

Senator Nelson’s recent statements, we have not seen any new compromises by Russian actors of election infrastructure. That said, we don’t need to wait for a specific threat to be ready.”

Florida Sen Marco Rubio, who is also on the Senate Intelligence Committee, wrote a letter with Nelson last month to all 67 of the county election supervisors in their state warning them of potential threats.

Rubio on Friday put out a

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PAGE 4, Monday, August 13, 2018

THE TRIBUNE

BLACK SOYBEAN FARMERS CLAIM THEY WERE SOLD FAULTY SEEDS PARCHMAN, MISSISSIPPI Associated Press SOYBEAN farmers David Allen Hall and Tyrone Grayer had high hopes when a farm-show salesman told them the seeds he sold would bring good yields in their fertile Mississippi Delta fields, and were less likely to be damaged by weeds.

But as the plants began to grow, Hall, Grayer and other black farmers who bought certified seeds from Stine Seed salesman Kevin Cooper in 2017 noticed that they were shorter and less uniform than plants from other seeds. A bad yield followed.

Now, Hall and Grayer are among a group of five black farmers in Tennessee and Mississippi who are suing Stine Seed Co, claiming the seeds were switched and they were given faulty, low-yield seeds.

“I was disappointed because we bought certified seeds,” says Hall, standing in a bright-green

soybean field in the heart of the Delta. “If you contract for a thoroughbred horse, you want Secretariat to be born. Not a jackass.”

The farmers also make another claim: that Cooper and Stine sold them bad seeds because of their race.

The company and Cooper call the allegations baseless and irresponsible and asked a judge to throw the suit out of court. They say it doesn’t cite a single racist comment or instance where the black farmers were treated differently from white farmers by company officials to support such “inflammatory” charges.

The farmers don’t cite specific statements showing racism by the company.

Rather, they allege discrimination in a pattern of deflective answers to questions and refusal to remedy the problem — echoes, they say, of a sordid history in the South that dates back to slavery and sharecropping.

The farmers have gleaned evidence that the seeds they bought were bad.

Their lawsuit says the farmers sent the seeds to be tested at Mississippi State University. A report from the university’s seed testing laboratory said the seeds “showed rotten molded seed”.

The farmers had expected 48 bushels or more of plump soybeans per acre, based on prior performance. Instead, they got about 25 bushels per acre, sometimes less — as little as five bushels per acre. The farmers allege they lost $1m.

Their lawsuit filed in federal court in Memphis in April says Cooper, a district sales manager for Stine, sold the farmers seeds that failed to produce the promised crop yields.

The suit claims the good seeds the farmers thought they had bought from Stine were replaced by inferior seeds before delivery.

The lawsuit seeks a jury trial and damages based on false advertisement, breach of contract, fraud, racketeering and racial discrimination. It names

Cooper, Stine Seed, company president Myron Stine and others as defendants.

Adel, Iowa-based Stine calls the lawsuit meritless.

In court documents, the company said it did not engage in “a racially-motivated conspiracy to secretly switch the soybeans”.

Cooper, in a separate filing, also denies allegations of racism.

Thomas Burrell, president of the Black Farmers and Agriculturists Association, acknowledges that Cooper and others who represented Stine did not make overtly racist comments.

“Your not calling me the n-word or another word doesn’t mean that you’re not racist,” said Burrell, a plaintiff in the case. “It’s what you did. You singled out certain individuals and you sold them seeds you would not sell your white customers.”

Burrell says Stine’s actions are a legacy of post-slavery discrimination against black farmers.

In 2011, a federal judge approved a settlement of

more than $1bn in a lawsuit brought by black farmers against the US Department of Agriculture. The suit alleged that the US government had discriminated against black farmers by unfairly denying them loans.

In March 2017, Grayer met Cooper at the MidSouth Farm and Gin Show in Memphis, their lawsuit states. Cooper said he had soybean seeds that were suitable for Mississippi’s growing conditions. The farmers ordered 12,000 pounds of Stine seeds.

The farmers say they planted the seeds correctly and under optimal farming conditions in Sunflower and Quitman counties in May 2017. They soon observed that the plants were germinating slowly, did not stand uniformly, and were too short.

When the seeds failed to produce the expected yield, Cooper said the farmers could have over-sprayed the plants, court documents say. He suggested the soybeans might have “dicamba

drift”, caused by an herbicide that damages soybean plants.

The farmers allege Cooper and another man swapped out the good seeds for the bad ones at a warehouse. The black farmers were given the inferior seeds, and white farmers got the good ones, the lawsuit claims.

Hall and Burrell met Cooper and Stine agronomist Kevin Ryan at a farm in Rome, Mississippi. Ryan said “you have a yield problem.”

He told the farmers Stine could trace the seeds’ origin and how they were shipped, the lawsuit says, but never offered to test the seeds.

“Defendants’ categorical and absolute dismissal of the pleas and cries ... from plaintiffs regarding the problem with Stine seeds was a direct, blatant and intentional disregard for the safety and welfare of black farmers and constitutes a badge of incidences of slavery,” the lawsuit says.

A court hearing has been set for Nov 14.

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THE TRIBUNE

Monday, August 13, 2018, PAGE 5

US students turn grief into tech startup after France attack BERKELEY, CALIFORNIA Associated Press CALIFORNIA college student Anjali Banerjee was watching fireworks during a 2016 celebration on a seafront promenade in the French city of Nice when a man plowed a huge truck through the crowd, killing 86 people and wounding 200.

The University of California, Berkeley incoming senior ran through mobs of people to escape the chaos and later joined classmates to search hospitals and plaster the city with flyers of fellow students reported missing in the July 2016 terrorist attack. She later learned three students were injured, and UC Berkeley junior Nicolas Leslie, 20, was among the dead.

Banerjee and several classmates have since turned their grief into a startup called Archer that builds digital tools to help journalists, investigators and human rights workers tackle terrorism, sanctions evasion, corruption and other global violence.

“In that moment, it was hard finding the correct information. It was hard even going to different police stations. It was chaos,” said Banerjee, who is from London.

The lack of official information following the terrorist attack by a Tunisian man led the students to self-organise and rely on locals to navigate the city as they looked for their missing friends. The Islamic State group claimed responsibility for the Bastille Day attack.

Collaborating with each other and with the people of Nice made the students realise they could create a space in the digital world to help others do the same in the fight against terrorism, Banerjee said.

The students built a free online platform that makes big data analysis and visualization easy to access and that helps track people and companies that have been sanctioned by the United States for crimes that include money laundering, corruption and terrorism.

They’re still working to turn their data analysis tool into a for-profit company, but the startup has achieved some success. Amnesty International is using one of its tools, Archer Meta, to verify photographs of the crackdown by security forces against minority Rohingya Muslims in Myanmar’s Rakhine state.

The tool identifies when and where the photographs were taken and can process 50 at once, unlike other readily available internet tools that upload one photo

at a time and can pose a security risk, said Sam Dubberley, a researcher with Amnesty International.

“We get photographs in bulk from activists groups in Myanmar, and we have to verify they are true. But uploading one at a time can be mind-numbing, tedious work,” he said.

Archer Meta also offers an added layer of security by allowing users to analyse a photo’s metadata without relying on an internet connection, Dubberley said.

“These tools are needed in human rights work, but they are prohibitively expensive to develop, and there is no money in it for tech companies to build them,” he said.

The group’s data analysis tool helps those investigating terrorist financing cases, “but there is a broader community of people who can rely on our tools, including those looking into war crimes, sanction violations or environmental crimes,” said Alice Ma, a former UC Berkeley student who founded the startup with Banerjee and classmate Tyler Heintz.

Heintz was also in Nice at the time of the attack.

They have since been joined by nearly two dozen other students, including several others who were with them in France as part of a monthlong class and competition hosted by the European Innovation Academy, which focuses on tech entrepreneurship education.

Banerjee, a history major, had considered a career in foreign affairs but after what happened in France, she wanted to take immediate action. Weeks before the attack, her friend Tarishi Jain, a UC Berkeley sophomore, was among 20 hostages killed at a restaurant by militants in Dhaka, Bangladesh.

“A lot of people all over the world exist in this kind of situation on the daily, and we thought it was time somebody suggested another way we could combat it,” Banerjee said.

Experiencing the France attack also pushed Heintz, a 20-year-old computer science major, to change his professional goals.

“Before Nice, I was very much on the traditional path of wanting to build the next app that a bunch of people would use for some reason but that doesn’t actually change anyone’s lives. But building an app that can help you transport your cat or dog just seemed so trivial,” he said.

What motivates Heintz and “a lot of us, is the idea that we can build products to help magnify the work of people trying to bring terrorists to justice,” he added.

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THE TRIBUNE

TESLA CEO MUSK TAUNTS SHORT SELLERS AMID LEGAL SCRUTINY WASHINGTON Associated Press TESLA CEO Elon Musk used Twitter late Friday to taunt investors who have bet against his company, even though his previous Twitter comments have spurred a government investigation and shareholder lawsuits.

The tweets are aimed at “shorts”, or investors who borrowed shares of Tesla and immediately sold them with the hope that Tesla’s share price would fall. That would allow the

shorts to buy back the stock at a lower price, return the shares to the lender, and pocket the difference.

Shorting a stock can temporarily lower its price, making short investors a frequent target of CEO wrath.

The Twitter comments could potentially affect Musk’s legal situation. On Tuesday he tweeted that he had secured funding to buy all Tesla shares and take the company private. The Securities and Exchange Commission is investigating Musk’s disclosure of the potential deal, according to

reports earlier this week.

Musk’s attitude toward short sellers could be relevant, securities law experts have said. Musk’s tweet about taking Tesla private sent the stock soaring 11 percent Tuesday and cost short sellers roughly $1bn, according to some estimates.

If his motive for the tweet “was frustration with short sellers, then that could be a case of market manipulation,” John Coffee Jr, a Columbia University law professor and corporategovernance expert, said earlier this week.

TESLA CEO and founder of the Boring Company Elon Musk.

Late Friday Musk mocked short investors in a series of tweets, suggesting his antipathy toward them hasn’t dimmed.

“Short shorts coming soon to Tesla merch,” Musk tweeted. “What are your fav short shorts?”

James Cox, a professor of securities law at Duke University, downplayed the

significance of the Friday tweets, noting that Musk’s antipathy toward short sellers is well-known.

“It’s hard for me to think that these blasts are going to get him in trouble,” Cox said.

On Friday, two lawsuits were filed accusing Musk of seeking to harm short sellers by artificially running

up the price of the company’s shares through his Tuesday tweets. One tweet on Tuesday said that funding to take Tesla private was “secure”. If there is evidence that the financing wasn’t fully locked down, Musk’s claim would expose him to allegations of fraud, Coffee said.

THE TRIBUNE

Monday, August 13, 2018, PAGE 7

Jury awards $289M to man who blames Roundup for cancer

SAN FRANCISCO Associated Press A JURY’S $289m award to a former school groundskeeper who said Monsanto’s Roundup left him dying of cancer will bolster thousands of pending cases and open the door for countless people who blame their suffering on the weed killer, the man’s lawyers said.

“I’m glad to be here to be able to help in a cause that’s way bigger than me,” Dewayne Johnson said at a news conference Friday after the verdict was announced.

Johnson, 46, alleges that heavy contact with the herbicide caused his nonHodgkin’s lymphoma. The state Superior Court jury agreed that Roundup contributed to Johnson’s cancer and Monsanto should have provided a label warning of the potential health hazard.

Johnson thanked jurors “from the bottom of my heart” for their work, along with his lawyers and his family.

His was the first case

PLAINTIFF Dewayne Johnson looks on after hearing the verdict in his case against Monsanto at the Superior Court of California in San Francisco on Friday. A San Francisco jury on Friday ordered agribusiness giant Monsanto to pay $289m to the former school groundskeeper dying of cancer, saying the company’s popular Roundup weed killer contributed to his disease.

Photo: Josh Edelson/AP filed by a cancer patient now you have to pay,’” Monsanto has denied against the agribusiness said Brent Wisner, John- a link between the active giant to reach trial. It was son’s lead trial lawyer. ingredient in Roundup — expedited because court fil- “There’s 4,000 other cases glyphosate — and cancer, ings indicated that Johnson filed around the United saying hundreds of studwas dying. His victory may States and there are count- ies have established that set the precedent for many less thousand other people glyphosate is safe. others. out there who are sufferMonsanto spokes“A unanimous jury in ing from cancer because man Scott Partridge said San Francisco has told Monsanto didn’t give them the company will appeal.

Monsanto: ‘Enough. You a choice ... We now have a Partridge said scientific did something wrong and way forward.” studies and two government

agencies have concluded that Roundup does not cause cancer.

“We are sympathetic to Mr. Johnson and his family,” Partridge said. “We will appeal this decision and continue to vigorously defend this product, which has a 40-year history of safe use and continues to be a vital, effective, and safe tool for farmers and others.”

Johnson used Roundup and a similar product, Ranger Pro, as a pest control manager at a San Francisco Bay Area school district, his lawyers said.

He sprayed large quantities from a 50-gallon tank attached to a truck, and during gusty winds, the product would cover his face, said Brent Wisner, one of his attorneys.

Once, when a hose broke, the weed killer soaked his entire body.

Johnson read the label and even contacted the company after developing a rash but was never warned it could cause cancer, Wisner said. He was diagnosed with non-Hodgkin’s

lymphoma in 2014.

“The simple fact is he is going to die. It’s just a matter of time,” Wisner told the jury in his opening statement last month.

But George Lombardi, an attorney for Monsanto, said non-Hodgkin’s lymphoma takes years to develop, so Johnson’s cancer must have started well before he began working at the school district.

The US Environmental Protection Agency says Roundup’s active ingredient is safe for people when used in accordance with label directions.

However, the Francebased International Agency for Research on Cancer, which is part of the World Health Organization, classified it as a “probable human carcinogen” in 2015. California added glyphosate to its list of chemicals known to cause cancer.

Johnson’s attorneys sought and won $39m in compensatory damages and $250m of the $373m they wanted in punitive damages.

VACANCY NOTICE

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 humanresouces@cablebahamas.com 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 humanresources@cablebahamas.com.

PAGE 8, Monday, August 13, 2018

THE TRIBUNE

Turkey’s president: US waging “economic war” against Turkey ISTANBUL Associated Press TURKEY’S president on Saturday blamed the country’s economic downturn on the United States and other nations that he claims are waging “war” against his country.

Speaking in the northeastern province of Rize, President Recep Tayyip Erdogan said that dollars, euros and gold were now “the bullets, cannonballs and missiles of the economic war being waged against our country”.

Erdogan promised supporters that Turkey was taking the necessary precautions to protect its economy but added “the most important thing is breaking the hands firing these weapons”.

Turkey was hit by a financial shockwave this week as its currency nosedived over concerns about the government’s economic policies and a trade dispute with the United States.

The lira tumbled 14 percent Friday, to 6.51 per dollar, a massive move for a currency that will make Turkish residents poorer and further erode international investors’ confidence in the country. The currency drop is particularly painful for Turkey because it finances a lot of its economic growth with foreign money.

The currency’s drop — 41

TURKEY’s President Recep Tayyip Erdogan addresses his supporters in his Black Sea hometown, Rize, Turkey, on Saturday. The banner in the background reads “Long live fully independent Republic of Turkey”.

Photo: AP percent so far this year — is a gauge of fear over a country coming to terms with years of high debt, international concern over Erdogan’s push to amass power, and a souring in relations with allies like the US. In an opinion piece published in The New York Times on Friday, Erdogan criticized the tensions with the US, saying a “failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies.”

Among the issues, Turkey has arrested an American

NOTICE CRYSTAL GREENJADE LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) CRYSTAL GREENJADE LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said company commenced on the 10th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas Dated this 13th day of August, A. D. 2018

pastor and put him on trial for espionage and terrorrelated charges linked to a failed coup attempt in the country two years ago. The pastor has proclaimed his innocence.

The US responded by slapping sanctions on Turkey and threatening more. The sides held talks in Washington this week but failed to resolve the spat.

President Donald Trump on Friday tweeted that he had authorised the doubling of steel and aluminum tariffs on Turkey. He said the tariffs on aluminum imports

would be increased to 20 percent and those on steel to 50 percent as the Turkish lira “slides rapidly downward against our very strong Dollar!”

“Our relations with Turkey are not good at this time!” he wrote.

The United States is the biggest destination for Turkish steel exports, with 11 percent of the Turkish export volume. The lira fell further after Trump’s tweet.

Turkey later said Erdogan had held a phone call with Russian President Vladimir Putin to discuss

Legal Notice NOTICE GIPUZKOA FUND ICON NOTICE IS HEREBY GIVEN as follows: (a) Gipuzkoa Fund Icon is in dissolution under the provisions of the Investment Condominium Act, 2014 (b) The dissolution of the said Fund commenced on the 13th day of August 2018 when its Notice of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Andre Mauricio De Camargo Penalva of 275 Central Park W 3C, New York, NY 10024-3035.

economic ties. It did not disclose details, but the move suggests Turkey might gravitate further from its NATO

allies toward co-operation with Russia, whose relations with the West are at their lowest point since the Cold War. Turkey’s woes have been aggravated by investor worries about the economic policies of Erdogan, who won a new term in office in June with sweeping new powers.

Erdogan has been putting pressure on Turkey’s central bank to not raise interest rates in order to keep fueling economic growth. He claims higher rates lead to higher inflation — the opposite of what standard economic theory says.

Independent analysts argue the central bank should instead raise rates to tame inflation and support the currency.

Amid the dispute, foreign investors could be spooked and try to pull their money out, reinforcing the currency drop and potentially leading to financial instability.

KINGHAM LIMITED Company No. 2273 (In Voluntary Liquidation) NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that KINGHAM LIMITED is in voluntary liquidation. The voluntary liquidation commenced on 25th July, 2018 and NINA RACCIATTI of Talstrasse 83, 8036 Zürich, Switzerland, has been appointed as the Sole Liquidator.

Dated this 26th day of July, 2018 Sgd. NINA RACCIATTI Voluntary Liquidator

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, JASMINE QUINCY COLLIE, of St. Lucia Road, Golden Gates #2, New Providence, Bahamas intend to change my name to HADASSAH YISRAEL BENJAMIN. 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.

_________________________________ Bukit Merah Limited Liquidator

Andre Mauricio De Camargo Penalva Liquidator

NOTICE

NOTICE

NOTICE

TOWNER LIMITED

ALPENROSE LIMITED

LUBO LIMITED

N O T I C E IS HEREBY GIVEN as follows:

N O T I C E IS HEREBY GIVEN as follows:

N O T I C E IS HEREBY GIVEN as follows:

(a) TOWNER LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(a) ALPENROSE LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(a) LUBO LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

(c) The Liquidator of the said company is Leeward Nominees Limited, Akara Building, 24 de Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands.

(c) The Liquidator of the said company is Leeward Nominees Limited, Akara Building, 24 de Castro Street, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands.

Dated this 13th day of August, A. D. 2018

Dated this 13th day of August, A. D. 2018

Dated this 13th day of August, A. D. 2018

_________________________________ Bukit Merah Limited Liquidator

_________________________________ Leeward Nominees Limited Liquidator

_________________________________ Leeward Nominees Limited Liquidator

NOTICE

NOTICE

NOTICE

GOLDEN SUN ASSETS LIMITED

GOLDEN SUN ASSETS LIMITED

LI RESOURCES LIMITED

N O T I C E IS HEREBY GIVEN as follows:

N O T I C E IS HEREBY GIVEN as follows:

N O T I C E IS HEREBY GIVEN as follows:

(a) GOLDEN SUN ASSETS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(a) GOLDEN SUN ASSETS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(a) LI RESOURCES LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(b) The dissolution of the said company commenced on the 9th August, 2018 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 13th day of August, A. D. 2018

Dated this 13th day of August, A. D. 2018

_________________________________ Bukit Merah Limited Liquidator

_________________________________ Bukit Merah Limited Liquidator

Dated this 13th day of August, A. D. 2018 _________________________________ Bukit Merah Limited

PAGE 10, Monday, August 13, 2018

THE TRIBUNE

Turkish turmoil knocks US and European stocks lower

NEW YORK Associated Press STOCKS in the US and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system.

Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country’s central bank as well as its financial system, which is now run by his son-in-law.

Its currency is plunging and Turkey is also in a diplomatic spat with the US, a major trading partner.

Alex Dryden, global markets strategist for JPMorgan Asset Management, said Erdogan showed no signs of changing course Friday, and investors are losing hope that Turkey’s government has the knowledge or independence needed to deal with the country’s financial problems.

“There was some hope that maybe they’d step back from the brink and you’d see a re-establishment of central bank independence,” he said.

While Dryden and other analysts say Turkey’s problems aren’t a major risk to the financial system, investors didn’t wait to find out Friday.

They sold stocks and bought US dollars and government bonds. The bond purchases sent interest rates lower, which hurt banks.

The dollar got stronger, partly because the Turkish

MARKET REPORT THURSDAY, 9 AUGUST 2018

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

BISX ALL SHARE INDEX: CLOSE 1,943.37 | CHG 3.16 | %CHG 0.16 | YTD -117.20 | YTD% -5.58 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

PREFERENCE SHARES

1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 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 LAST CLOSE AML 4.45 APD 17.43 BPF 9.09 BWL 4.06 BOB 1.00 BBL 0.18 CAB 2.90 CIB 9.13 CHL 6.15 CBL 3.75 CBB 11.42 CWCB 2.74 DHS 1.75 EMAB 7.93 FAM 6.21 FBB 11.25 FIN 6.35 FCL 3.75 JSJ 13.00 CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

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)

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 LAST SALE 100.00 108.35 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.50 17.43 9.09 4.06 1.00 0.18 2.90 9.13 6.15 3.75 11.42 2.74 1.75 7.80 6.21 11.49 6.35 3.75 13.00

CHANGE 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.13 0.00 0.24 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

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

108.27 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.08 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

VOLUME 1,000

3,000

VOLUME

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 16.8 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 16.9 8.8 13.5 20.6

YIELD 2.22% 6.48% 0.00% 5.67% 0.00% 5.56% 0.00% 7.78% 3.58% 3.20% 5.43% 2.19% 4.00% 1.08% 5.15% 4.35% 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 10.00 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 9.88 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 2.16 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

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

lira nosedived, and major exporters like technology, basic materials and industrial companies sank.

The S&P 500 slid 20.30 points, or 0.7 percent, to 2,833.28. That was its worst loss in a month and ended a five-week winning streak for the index by wiping out its gains from earlier this week.

The Dow Jones Industrial Average dropped 196.09 points, or 0.8 percent, to 25,313.14. The Nasdaq composite sank 52.67 points, or 0.7 percent, to 7,839.11. It had risen for eight days in a row.

The Russell 2000 index of smaller-company stocks took a smaller loss of 4.08 points, or 0.2 percent, to 1,686.80. The companies in that index are less reliant on exports, and the stronger dollar makes their imports less costly.

Investors are concerned about Erdogan’s economic views. He says higher interest rates lead to higher inflation, the opposite of what standard economic theory says. As a result he’s pushed Turkey’s central bank to keep interest rates low, threatening its independence and preventing it from shoring up the lira.

The US is the biggest importer of Turkish steel, and on Friday President Donald Trump said he will authorise higher tariffs on steel and aluminum from Turkey, a NATO ally. That sent the lira down even further. It’s down 40 percent this year against the dollar.

The US sanctions come after Turkey arrested an American pastor and put him on trial for espionage and terror-related charges.

The weakening lira has been pushing up the cost of goods for Turkish people and has damaged international investors’ confidence in the country. Since some of Turkey’s debt is in dollars, it’s also making the country’s financial situation worse.

European banks fell sharply.

The US-listed shares of Germany’s Deutsche Bank lost 4.7 percent to $11.82 and Spanish Banco Santander fell 4.7 percent to $5.19.

Dryden, of JPMorgan Asset Management, said Erdogan has replaced independent advisers and leaders with relatives and supporters and set off a “gradual process of eroding economic credibility among

financial and economic institutions”.

Bond prices jumped. The yield on the ten-year Treasury note fell to 2.87 percent from 2.93 percent. That helped send bank stocks lower. JPMorgan Chase slid one percent to $115.73 and Citigroup retreated 2.4 percent to $70.26.

Emerging market currencies fell and the dollar jumped. The ICE US Dollar Index was already trading around annual highs and it rose another 0.9 percent, a large move.

The euro fell to $1.1398, its lowest in more than a year, from $1.1542. The dollar fell to 110.64 yen from 111.04 yen after a strong economic growth report form Japan.

Germany’s DAX fell two percent and the CAC 40 in France fell 1.6 percent.

Britain’s FTSE 100 lost one percent. The Nikkei 225 index in Japan lost 1.3 percent. Hong Kong’s Hang Seng gave up 0.8 percent. In South Korea, the Kospi lost 0.9 percent.

Energy companies rose slightly as oil prices increased. Benchmark US crude oil rose 1.2 percent to $67.63 a barrel in New York and Brent crude, the standard for international oil prices, rose 1.1 percent to $72.83 a barrel in London.

Wholesale gasoline rose two percent to $2.04 a gallon. Heating oil added 1.3 percent to $2.14 a gallon.

Natural gas lost 0.4 percent to $2.94 per 1,000 cubic feet.

Online discount retailer Overstock.com surged 7.9 percent to $41.65 after it said private equity firm GSR Capital will make an investment in its blockchain business.

Overstock is one of the few major retailers that accepts payment in bitcoin, and its stock surged as bitcoin prices rose last year.

However digital currency prices and the company’s stock have both dropped in 2018.

The Labor Department said consumer prices climbed 2.9 percent in July compared with a year ago.

The main cause was an increase in housing prices.

That matched June’s pace, which was the highest in six years.

Gold dipped 0.1 percent to $1,219 an ounce. Silver fell 1.1 percent to $15.30 an ounce. Copper lost 0.8 percent to $2.74 a pound.

NOTICE Notice is hereby given that james kito cepoudy of Sea Spray Resort and Marina White Sound, Hope Town, Abaco, Bahamas is applying to the Minister responsible for nationality and Citizenship, for Registration/Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written signed statement of the facts within twenty-eight days from the 13th August, 2018 to the Minister responsible for Nationality and Citizenship, P.O.Box N7147, Nassau, The Bahamas.

NOTICE Notice is hereby given that DACOLE DEXTERNICA MITCHELL of Faith Gardens, Carmichael Road, New Providence, Bahamas is applying to the Minister responsible for nationality and Citizenship, for Registration/Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written signed statement of the facts within twenty-eight days from the 13th August, 2018 to the Minister responsible for Nationality and Citizenship, P.O.Box N7147, Nassau, The Bahamas.