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FRIDAY, AUGUST 30, 2019

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and fraud is Turnquest proclaims lowest ‘Corruption the Bahamian way of life’ deficit level in a decade

By NATARIO MCKENZIE

fiscal history and is evidence that we are serious and determined to put our fiscal house in order, and committed to achieving a more sustainable fiscal position. As we have consistently maintained, our ultimate goal is to achieve sustainable economic growth that allows opportunity to flourish for all Bahamians, and economic and social benefits to be maintained over the medium and long term,” said Mr Turnquest, deputy prime minister and minister of finance. “The success we achieved this year with improving our fiscal balance is only one step in a multi-step process. We are still at the early point of recovery and we

Tribune Business Reporter

nmckenzie@tribunemedia.net

INANCE Minister K Peter Turnquest yesterday touted that “for the first time in a long time” the government has met its deficit target, having recorded a deficit of $222.4m for fiscal year 2018/2019. According to the Ministry of Finance the deficit is equal to 1.7 percent of GDP “marking the lowest deficit and fiscal ratio achieved by any administration in The Bahamas in nearly ten years” and the first time since FY2012/13 that any government has met its deficit target. “This is significant in our

K PETER TURNQUEST

SEE PAGE 2

Revenues beat budget target by $81M By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net COLLECTIONS of stamp taxes on financial and realty transactions “surged two-fold”, from $109.5m in fiscal year 2017/18 to $225.3m in fiscal year 2018/19, outpacing the budgeted $143.7m the Ministry of Finance’s fourth quarter fiscal snapshot and report on budgetary performance revealed yesterday. The report stated that: “Specifically, stamp tax on realty transactions increased

more than three-fold to $137.6m, on account of the establishment of a ten percent rate on transactions over $100,000, which became effective July 1, 2018, which had replaced the VAT charged on realty deals.” The report went on to note: “Stamp taxes on banking transactions accounted for $46.1m or 20.5 percent of these receipts.” Gaming taxes increased marginally, by $2.6m or seven percent, to $39.8m in fiscal year 2018/19 which represented 56.8 percent of the budget.

“Performance was constrained by the concession granted to the gaming house industry to submit taxes at the old rate for the first half of the fiscal year, following the court settlement, and the incidence of outstanding payments at year end,” the report noted. “Although general stamp taxes improved to $9.2m from $4.4m in the previous fiscal year, they comprised only 32.7 percent of the budget target. This outcome was due to the non-introduction of the five percent stamp tax on gaming patrons

which was estimated to add an additional $20m in receipts.” The report also noted that customs and other import duties were higher by $12.7m, although $52.2m below budget expectations. “The $3.4m year-over-year gain in departure taxes was $0.6m less than the budget, but basically in line with the increased level of visitor arrivals to The Bahamas. By contrast, taxes on exports tapered by $5.8m to $12.5m, and by a lesser $1.4m from the budget target,” the report stated.

Port development ‘must bring life to downtown Nassau’ According to Prime Minister Dr Hubert Minnis 500 jobs are expected during the construction phase of

JEFFREY BECKLES By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net BAHAMAS Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, Jeffrey Beckles, yesterday stressed that a commitment to Bahamian ownership and involvement in the Nassau cruise port redevelopment is “critical”, adding Bahamians must return to the downtown district. “Obviously a commitment to Bahamian ownership and Bahamian involvement is critical because Bahamians need to become a functional part of the economy by owning and being able to conduct business in the economy,” Mr Beckles told Tribune Business “At the end of the day, the transformation of downtown includes all of what is going to happen at the port.” He added: “The revival of Bay Street and the northern foreshore of Bay Street is key to our economic growth as well because not only will it provide for Bahamians to be involved but cause there to be a greater attraction for the city of Nassau and commerce and come alive in the downtown district. “Right now the

biggest cry is that there is no commerce downtown, Bahamians aren’t involved and downtown is a place Bahamians won’t go. We have to change that. We have to cause there to be a reason for Bahamians to come downtown. I think the port deal can be the indicator that the effort is underway to ensure that happens.” On Wednesday, the Minnis administration signed a Heads of Agreement for a $250m project with Global Ports Holding to redevelop and manage the Nassau Cruise Port. The project will anchor the administration’s efforts to revitalise downtown Nassau. Through its 25-year management agreement, Global Ports Holding will spearhead the development of a new terminal, a waterfront park, a harbour village, a new inner harbour, an amphitheatre, a Junkanoo museum, shops, restaurants and theatre. Construction is expected to be complete and the new facilities opened by 2022. Under the deal, the number of berthing facilities for cruise ships will increase from six to eight, increasing the number of potential cruise passenger arrivals.

the project, with the government agreeing to an 80 percent Bahamian workforce during that stage.

JOHN S BAIN By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A WELL-KNOWN forensic accountant yesterday lamented what he described as “endemic” corruption in The Bahamas and the refusal to prosecute “fraudsters”. John S Bain, managing partner at UHY Bain and Associates while speaking on the sidelines of an Elder Abuse Symposium held at Grace Community Church yesterday said fraud and corruption was “symptomatic” of the close-knit Bahamian society. “One of the problems that we have in The Bahamas is that we don’t prosecute fraudsters. People do things and we just fire them and ask them to pay the money back. They end up getting another job and do the same thing over again,” said Mr Bain. “I’m involved in a case right now with a local association, whereby the

treasurer stole a lot of money and instead of putting her before the courts they allowed her to pay the money back. “Fraud and crookedness and corruption has been one of the pillars of our society in The Bahamas. Corruption is endemic here. It’s not only the poor guy getting a kickback but also the big guy who pays together certain privileges. It’s endemic, that’s the way things are in The Bahamas.” Mr Bain also noted that financial abuse of the elderly is widespread in The Bahamas. Mr Bain estimated that financial abuse of the elderly amount to “a couple million for sure”. “It happens at financial institutions, persons stealing from loved ones as well as the forging of wills. There are a lot of cases where persons died and all of a sudden the contents that were known to be in the will are no more. All of a sudden one child gets all of the assets,” said Mr Bain.

PAGE 2, Friday, August 30, 2019

CELEBRATING MILESTONES IN YOUR EMPLOYEES LIFE

VERYONE loves to feel appreciated, values and celebrated. Recognising employees for their accomplishments and life events—big or small— shows them you care and are invested in their wellbeing and success. Whether it’s a birthday, work anniversaries, birth of a child, a new home, a promotions, the attainment of a degrees or certifications or marriage, the recognition from counterparts at work sends the message that the employee is valued. When it comes to celebrating workplace or personal milestones, there are no real ideal way to do it. The way you reward and celebrate your team members should depend on the team members themselves and on your company’s culture. Not everyone likes rewards in the form of public accolades or gifts, and not everyone is motivated by the same things. With that said, you can still create a culture of appreciation, even as you appreciate each person in their own unique way. Team leaders need to

keep track of upcoming milestones, projects or personal accomplishments, team members’ personal goals, and each person’s preferential form of appreciation. Setting expectations around what deserves reward and recognition and communicating those expectations to team members can help keep your company’s values and mission fresh in their minds. Some offices have a monthly birthday club celebration or the automatic double incremental increase for the achievement of a degree or certification. All these provide extra incentive for the employee. Giving the employee something tangible may also prove beneficial. While cash rewards might seem like a good idea, money might not be the strong motivator you think it is. Tying payment to the appreciation for good work rather than work for work’s sake can actually hinder team members’ desire to be productive, so offering cash awards often misses the mark when it comes to awards for workplace milestones. A well thought out token of appreciation, a

IAN FERGUSON BY

ticket to the Family Island, gym membership for a month all sends the message to the employee that you are valued and your efforts have not gone unnoticed. When team members see that their work is having a direct impact on the success of a company, it motivates them to contribute their best work. Celebrating workplace milestones shows employees that, not only are they a valued and honoured member of the team, but they are also contributing meaningful work to their organisation and its purpose. For those not being recognised, sharing in the success of their teammates and seeing that hard work does not go unnoticed can help further your culture of appreciation and motivate the entirety of the team.

THE TRIBUNE

Roberts joins BPF board BAHAMAS Property Fund (BPF) Limited Chairman Michael Anderson has announced the appointment of Larry Roberts as a Director of the Company effective September 2. Mr Anderson noted that Mr Roberts brings a wealth of experience to BPF as his real estate background spans over five decades. He is a licensed Broker and a past president of The Bahamas Real Estate Association and a member of the Society of Industrial & Office Realtors (SIOR). Mr Roberts recently retired as the CEO and Managing Broker at NAI Bahamas Realty Commercial and now specialises in negotiating sales and leasing of commercial properties. Mr Anderson advised that he was pleased to welcome Mr Roberts to the board and that he was confident that the BPF would gain substantial benefits from his expertise. The Bahamas Property Fund (BPF) is a real estate investment company that currently owns three commercial properties in The Bahamas: the Bahamas Financial Centre located

LARRY ROBERTS in New Providence, One Marina Drive located in Paradise Island, and Providence House located in New Providence. BPF buys, leases and manages commercial real estate. From local startups to global firms, BPF’s tenants span industries including banking,

healthcare, law, and technology. The Bahamas Property Fund shares trade on the Bahamas International Securities Exchange under the symbol “BPF”. Royal Fidelity Merchant Bank & Trust Limited serves as BPF’s investment manager, administrator and real estate manager.

Turnquest proclaims lowest deficit level in a decade FROM PAGE ONE must stay the course. Our country is still vulnerable to natural disasters and external economic shocks. Our priorities will continue to be expenditure restraint,

enhanced revenue compliance and collection, and implementing policies to stimulate economic growth.” The fourth quarter report also revealed a debt to GDP ratio of 58.8 percent at the end of fiscal year 2018/19, which represents a marginal increase of 0.1 percent when compared with FY2017/18. “This is the slowest the debt has increased in over a decade. This virtual stabilisation in the debt ratio is an important milestone, and it aligns with our overall fiscal objective, which is to eventually bring the debt to GDP ratio down to the more sustainable target of 50 percent. The objective is to pursue a fiscal policy that will begin to move the debt to GDP ratio lower over time,” said Mr Turnquest. “Governments of The Bahamas have only met their revenue targets on four occasions in nearly two decades. This means that we have to get better both

at forecasting and at collecting revenues on the books. We are well underway in the implementation of the right policy and administrative measures to ensure that we are collecting all revenues due to the government. This is a compelling priority of the government, as we implement our fiscal plan utilising a combination of strategies including the establishment of the Revenue Enhancement Unit which is now fully staffed.” “Nevertheless, what is important is that for the first time in a long time the government has met its deficit target - and done so in a way that is responsible and prudent. More so, the outturn represents the lowest such deficit as a percentage of GDP in almost a decade. We have established a fiscal plan in line with the fiscal responsibility legislation and we are remaining true to this plan as required by law.”

OPIOID SETTLEMENT WOULD DIVIDE MONEY BASED ON LOCAL IMPACT COLUMBUS Associated Press THE multibillion-dollar settlement that the maker of OxyContin is negotiating to settle a crush of lawsuits over the nation’s opioid crisis contains formulas for dividing up the money among state and local governments across the country, The Associated Press has learned. The formulas would take into account several factors, including opioid distribution in a given jurisdiction, the number of people who misuse opioids and the number of overdose deaths. Spelling out the way the settlement is to be split could forestall squabbles over the money and avoid what some see as the mistakes made with the hundreds of billions of dollars received under the nationwide settlement with Big Tobacco during the 1990s. Activists have complained that precious little of the money from the tobacco industry went toward antismoking programs and too much was diverted toward state budget holes, pensions and other things unrelated to smoking’s toll. In the case of the opioid litigation, some of the plaintiffs have said they want direct control over the money to make sure it goes toward treating and preventing addiction and covering some of the taxpayer costs associated with the deadly epidemic, including mental health services, police calls and foster care for children of addicts. Published reports say a proposed $10bn to $12bn settlement of the opioid claims with Purdue Pharma is taking shape.

As an example of the proposed formulas, Cabell County, West Virginia, a hard-hit part of Appalachia, and the local governments in it would get a total of $975,000 for every $1bn in the settlement. Philadelphia would receive $6.5m. The talks are being overseen by a federal judge in Cleveland. But Purdue wants any settlement to apply to all claims against it, according to a person familiar with the talks but not authorised to discuss them publicly. That would include the nearly 2,000 lawsuits in federal court and the hundreds of other local government and state lawsuits filed in state courts. Under the plan now on the table, Purdue Pharma would file for bankruptcy and transform itself into a “public benefit trust corporation”, with all profits from drug sales and other proceeds going to the plaintiffs, news reports said. The Sackler family would give up ownership of Purdue Pharma and contribute at least $3bn of its money toward the total, the reports said. The amount being described in the proposed settlement pales in comparison to the cost of the nation’s opioid epidemic, which has contributed to the deaths of some 400,000 people in the US since 2000. Government health officials have pegged the economic toll of the prescription opioid epidemic at more than $78bn per year, according to a 2016 estimate by the US Centers for Disease Control and Prevention. The figure includes the costs of medical care, addiction treatment, lost productivity and legal expenses.

THE TRIBUNE

Friday, August 30, 2019, PAGE 3

Thanks to consumers, US economy is rising steadily if slowly WASHINGTON Associated Press THE US economy slowed in the spring, and most analysts expect it to weaken further in the months ahead. Yet the main driver of growth — consumer spending — remains vigorous enough to keep the economy growing steadily if still modestly. Spending by households, which accounts for about 70% of economic growth, accelerated in the April-June quarter to its fastest pace in nearly five years. Eventually, President Donald Trump’s tariffs on hundreds of billions of dollars in imports could bring higher prices and lower consumer spending. But for now, household spending remains a vital pillar of the economy. The nation’s gross domestic product — the broadest gauge of economic health — grew at a moderate 2% annual rate in the AprilJune quarter, the Commerce Department reported yesterday. That was down from a 3.1% growth rate in the first quarter, but it would have been much weaker without a burst of consumer demand. Economists generally expect growth to slow to a 2% annual rate or less for the rest of the year. But most think consumer spending will be enough to offset headwinds ranging from a slowing global economy to growing uncertainties caused by Trump’s trade war with China. In the April-June period, consumer spending shot up to an annual rate of 4.7%, the best showing since the final quarter of 2014. The surge followed two weak quarters for spending as car sales sank and households grew cautious after a stock market fall and a partial shutdown of the government. At the same time, business investment is weakening in the face of the uncertainties created by the taxes that Trump has imposed on numerous imports — goods that many American businesses rely upon. Gus Faucher, chief

economist at PNC Financial, said he expects the trade war to begin to weigh on consumers in the second half of this year as some of Trump’s additional tariffs on Chinese products take effect Sunday and others on Dec 15. In addition, higher tariffs on a separate group of Chinese products are to take effect Oct 1. Faucher said thinks growth is slowing to a 1.5% annual rate in the current July-September quarter and will dip to around a sluggish 1.3% rate in the fourth quarter. “On the plus side, consumers remain in good shape ... with solid job growth and good wage gains,” Faucher said. “But the higher tariffs are going to cause consumers to pull back for a time, especially on big-ticket items like cars and appliances.” But by mid-2020, Faucher said, he expects spending to start accelerating as consumers become used to the higher tariffs. He said he thinks the strength from such spending will help avoid a recession. The latest earnings reports from retailers show that some stores are faring better than others. Discounters are doing well, with Dollar Tree, Dollar General and Five Below all reporting solid sales figures in the most recent quarter. And although Best Buy managed to post an increase in a key sales figure, it was overshadowed by disappointing revenue and by concerns about Trump’s taxes on Chinese imports. The electronics retailer lowered its revenue outlook for the year, citing the expected impact of tariffs. Best Buy said it expects TVs, smartwatches and headphones to be affected by tariffs that take effect Sept 1. Computers, smartphones and video game consoles would come next on Dec 15. CEO Corie Barry said she was unsure if Best Buy will raise prices yet, saying it’s difficult to predict how customers would respond. Trump, who is counting on a strong economy to support his re-election bid, has a decidedly upbeat view

of the economy. In a tweet yesterday, Trump asserted that “the economy is doing GREAT, with tremendous upside potential! If the Fed would do what they should, we are a Rocket upward!” The president, who last week called Federal Reserve Chairman Jerome Powell an “enemy”, has been demanding that the Fed cut rates by a full percentage point — a proposal that most economists regard as wildly excessive. The Fed did cut rates by a quarter-point last month, the first rate reduction in a decade, and is expected to do so again at least twice more this year. Some analysts say they think the expectation of further rate cuts makes them believe that the economy won’t be pushed into a recession by the trade war. The 2% annual GDP growth in the April-June quarter represented a slight downward revision from the government’s first estimate of a 2.1% growth rate. Trump has pledged to achieve annual growth at annual rates of 3% or better. But economists generally foresee GDP slowing sharply after hitting 2.9% last year. For all of 2019, economists estimate that GDP will slow to around 2.2% and then drop to below 2% in 2020 as the economy faces headwinds from the global slowdown and the effects from the escalating trade war with China. The biggest factor in the government’s downward revision for the April-June quarter was a smaller gain in spending by state and local governments and fewer export sales. American exports have been hurt by the retaliatory tariffs China and other countries have imposed on US soybeans and other products. Business investment spending turned negative in the second quarter, falling at a 0.6% annual rate, which many economists believe occurred because of the uncertainty among businesses resulting from Trump’s trade war.

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

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned. YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides. Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property. This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home. We look forward to your continued support in this worthwhile endeavour.

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

PAGE 4, Friday, August 30, 2019

THE TRIBUNE

EPA moves to revoke rules on oil industry methane leaks WASHINGTON Associated Press THE Trump administration moved yesterday to revoke regulations on methane leaks from oil facilities, a proposal environmental advocates said would renounce key federal authority to regulate the climate-damaging gas. The proposed rule follows President Donald Trump’s directions to remove “unnecessary and duplicative regulatory burdens from the oil and gas industry,” Environmental Protection Agency Administrator Andrew Wheeler said in a statement. Exxon Mobil and some other oil giants — wary of blowback from growing public concern over global

PUMPJACKS work in a field near Lovington, NM. Oil industry and environmental groups say they expect the Environmental Protection Agency to release a proposed rule over the next few days that will roll back requirements on detecting and plugging methane leaks at oil and gas facilities.

warming — joined environmental groups in urging the Trump administration to drop the rollback on methane controls, although several state-level and national industry groups welcomed the easing. The step would be the latest in a series unwinding the Obama administration’s efforts to cut climate-changing emissions from the oil, gas and coal industries, including a 2016 rule regulating oil-industry methane leaks as a pollutant under the federal Clean Air Act. Trump has pushed to open vast expanses of US wilderness and coastline to oil and gas drilling, speed construction of petroleum pipelines and ease regulations on the industry, dismissing calls from scientists in and out of government for rapid cuts in oil, gas and coal emissions to stave off the worst of climate change. Asked about global warming this week, Trump only lauded the United States’ “tremendous wealth”. “The wealth is under its feet,” he said, praising oil and gas production. Methane, the main component of natural gas, frequently leaks or is intentionally released during drilling operations. It traps far more heat in the atmosphere than carbon dioxide, doing 25 times the damage over the long term despite surviving for less time, according to the EPA. The oil and gas industry is the nation’s primary source of methane emissions, according to the EPA, accounting for nearly one-third in 2016. Under Trump, both the

Interior Department and the EPA have proposed a series of rules — some blocked by courts — to loosen regulation of methane emissions. President Barack Obama’s administration had cited legal authority under the Clean Air Act to require companies to detect and stop methane leaks at oil and gas sites. The Trump administration contends that Obama’s EPA skipped required legal steps in making that decision, and its proposal yesterday seeks public comment on the issue. “Essentially, this is the umpteenth iteration of the EPA’s exercise to define away its Clean Air Act authority ... to address air pollution and greenhouse gases,” said Joseph Goffman, an EPA air official under Obama. Methane levels globally have risen to historic highs, and the oil industry’s US shale gas boom has been the single largest driver of that, said Robert Howarth, a professor of ecology at Cornell University. “The increase in methane has contributed significantly to the accelerated global warming and climate disruption the Earth has experienced in recent years,” Howarth said in an email. While environmental groups pointed to the longterm regulatory impact on methane overall, the oil industry said the direct immediate effect for methane emissions would be negligible. Controls on other, regulated pollutants would also capture methane before it leaks from pipelines, said

Erik Milito of the American Petroleum Institute. The Obama-era requirements to find and fix methane leaks imposed “a disproportionate effect on small businesses” in the oil industry, Milito said. “A lot of mom and pops would have their wells shut in, elderly people with wells on their properties that could be shut down” under the rules to be rescinded. But the rollbacks on emissions from oilfields, storage sites and pipelines have split the oil industry, worrying some in the industry about growing blowback in a world increasingly mindful of climate change. Some oil majors this year urged the administration to crack down — not ease up — on the emissions. They repeated that request yesterday. Royal Dutch Shell has long supported the direct regulation of methane and urged the administration earlier this year to write a rule regulating existing sources of methane emissions. “While the law may change in this instance, our environmental commitments will stand,” Gretchen Watkins, Shell US president, said in a statement. Directly regulating methane emissions and driving down leaks is “not only the right thing to do for the environment, there is also a clear business case for doing this,” said Susan Dio, president of BP America, in a statement. Exxon Mobil spokesman Scott Silvestri said the oil giant would continue urging EPA — as it has since last year — to stick to directly regulating methane emissions from oil and gas facilities. Asked about those requests, Anne Idsal, the EPA’s acting assistant administrator for air, told reporters, “We don’t preclude anyone from going above and beyond if that’s something they want to do.” Environmental advocates and Democratic lawmakers called the rollback reckless. Sen Tom Carper of Delaware, top Democrat on the Senate Environmental and Public Works Committee, said, “The Trump administration has continued to pursue a course that would increase profit margins for the oil and gas industry, even if it means cutting commonsense public health and environmental protections.”

THE TRIBUNE

Friday, August 30, 2019, PAGE 5

FELLOW DEMOCRAT DECLARES MICHIGAN GOVERNOR’S ROADS PLAN DEAD LANSING Associated Press THE minority leader of the Michigan House said yesterday that Democratic Gov Gretchen Whitmer’s proposed 45-cents-a-gallon fuel tax hike is dead in the Republican-led Legislature, adding that there are other kinds of tax increases that could pay for much-needed road repairs. Christine Greig’s statements showed a rift among Democrats as the governor makes the case to GOP lawmakers for increased transportation revenue in a state that ranks second to last nationally in per-capita road spending. The deadline for a budget resolution is nearly a month away. Greig declined to say whether her caucus would back the 45-cent increase if it were put up for a vote but said “that’s probably the extreme that won’t happen”. Asked later if the $2.5bn plan — the linchpin of Whitmer’s budget — is dead, Greig noted majority Republicans’ opposition to it and said: “Yeah, I think it is.” Whitmer as recently as Wednesday defended her proposal while saying she would entertain alternatives, but that GOP legislative leaders had not yet offered a “real” plan to address deteriorating roads and bridges. Republicans have refused to make public what specifically they have presented to Whitmer.

But she has criticised their ideas such as effectively shifting sales tax collected at the pump to road funding — much of the $840m in revenue now goes to schools — and delaying the date to pay off unfunded liabilities in the school employees’ retirement fund. Greig echoed the governor’s critiques but also said residents want to see a “fair-share budget” and “there other things we can do to lower the cost of that 45 cents”. In June, House Democrats unveiled a $1.2bn proposal that would increase the state’s corporate tax, create a new six-cents-a-mile tax for heavy trucks and charge bridge tolls to tractor-trailers. It also includes portions of Whitmer’s budget plan, such as raising taxes on certain businesses so they are taxed the same as traditional corporations and restoring tax breaks for pensioners. “The important thing is we have to raise $2.5bn in new revenue to fix the roads,” Greig said yesterday. Whitmer spokesman Zack Pohl said she is not wedded to every part of her budget recommendation but at this time “is the only person to introduce a comprehensive budget proposal that raises the $2.5bn in new revenue we need each year to improve public education, close the skills gap, clean up our drinking water

HOUSE Minority Leader Christine Greig, D-Farmington Hills, helps unveil anti-payroll fraud legislation yesterday at the Michigan AFLCIO in Lansing, Mich. She said that Democratic Gov Gretchen Whitmer’s proposed 45-cents-a-gallon fuel tax hike is dead, and House Democrats’ ideas for raising money for the roads must be put on the table. Photo: David Eggert/AP and fix the damn roads. The governor stands ready to work with the Legislature, but no real alternative plan has even been proposed for her consideration.” Republicans seized on Greig’s comments. State GOP chairwoman Laura Cox said gradually hiking the 26-cents-a-gallon gas tax to 71 cents over a year “was an idea that was always running on empty” and one that drivers rejected when it was announced nearly six months ago. “Now with her own party leaving it dead on the side of the road, it’s time for Governor Whitmer to get real and walk back to the negotiating table,” she said. Oct 1 is the deadline to pass a spending plan for the next fiscal year.

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PAGE 6, Friday, August 30, 2019

THE TRIBUNE

Federal grand jury indicts woman in Capital One case SEATTLE Associated Press A FORMER Amazon software engineer arrested last month on charges she hacked into Capital One bank and more than 30 different companies has been indicted by a federal grand jury on charges she not only broke into the company’s computer system, but also stole computing power for her own benefit. Paige Thompson faces wire fraud and computer fraud and abuse charges in the indictment announced on Wednesday. She’s scheduled to be arraigned Sept 5. Her lawyer did not immediately respond to an email request for comment. In addition to Capital

One, the indictment identifies three other entities that were targets. They include a state agency and a public research university, both outside Washington state, and a telecommunications conglomerate located outside the US. Between March and July of this year, Thompson

“mine” cryptocurrency for her own benefit, a practice known as “cryptojacking”, the indictment said. Officials say Thompson, 33, copied data from servers that Capital One rented from a cloud computing company, including personal information from about 100 million customers who had applied for credit cards from Capital One. At least 40 lawsuits have been filed against Capital One Financial Corporation, claiming the company failed to protect its customer’s personal information. Thompson was arrested on July 29 after she allegedly talked about the hack on the site GitHub. Another user alerted

created scanning software that allowed her to identify customers of a cloud computing company that had misconfigured their firewalls, allowing someone to access their servers, according to the indictment. Once she had access, Thompson stole data and used the computer power to

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, BIANCA VALENCIA HALL, of #15 Sasson Drive Iguana Way, Bel Air Estates P.O.Box N-4616 Nassau, Bahamas, Mother of KAREEN BELLA WILLIAMS, a minor, intends to change her name to BELLA REEN WILLIAMS. 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.

The Public is hereby advised that I, AUDREY PAMELA THOMPSON of Rosetta Street, Palmdale, New Providence, Bahamas intend to change my name to AUDRIANNA PAMELA THOMPSON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE

hereby

given

NOTICE is hereby given that BELFORT DESCOYARD of Nassau Village, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of August, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

that

T’neal Lenoah Hanna Johnson,

Of Bartlett Hill, Eight Mile Rock, Grand Bahamas, Bahamas., is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rdday of August, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

MARKET REPORT www.bisxbahamas.com

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THURSDAY, 29 AUGUST 2019

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,138.02 | CHG: 5.53 | %CHG: 0.26 | YTD: 28.57 | YTD%: 1.35 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.92 2.60 2.00 3.33 11.75 6.17 4.64 12.50 2.81 2.64 10.00 7.35 15.60 9.30 3.75 14.20

52WK LOW 3.50 19.17 4.90 4.06 1.00 0.19 2.00 9.17 6.15 3.54 7.50 2.35 1.75 7.51 6.10 11.70 6.20 3.01 13.00

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

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

1000.00 1000.00 1000.00 1000.00

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

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

1.00 10.00 1.00

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

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

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

52WK HI 2.25 4.31 2.06 191.61 158.55 1.62 1.76 1.70 1.15 7.89 9.35 6.80 11.39 12.15 10.63 10.00 8.69 11.79

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

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)

MUTUAL FUNDS

MARKET TERMS

LAST CLOSE 4.19 17.43 6.00 5.92 2.46 1.80 3.03 11.06 6.16 4.07 7.50 2.91 2.64 10.40 7.00 15.45 9.24 3.40 14.20

CLOSE 4.19 17.43 6.00 5.92 2.46 1.80 3.33 11.06 6.16 4.07 7.50 2.93 2.64 10.44 7.00 15.45 9.24 3.40 14.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.30 0.00 0.00 0.00 0.00 0.02 0.00 0.04 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00

CLOSE 100.00

CHANGE 0.00

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

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

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

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

VOLUME 100

1,000 6,220

VOLUME

NAV 2.25 4.31 2.06 191.61 158.33 1.62 1.76 1.70 1.15 7.89 9.35 6.80 11.39 12.15 10.63 9.92 8.68 11.38

EPS$ 0.240 0.932 1.760 0.323 0.098 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.000 0.728 0.816 0.939 0.203 0.631

DIV$ 0.160 1.260 0.000 0.250 0.000 0.020 0.000 0.720 0.220 0.120 0.000 0.068 0.060 0.328 0.240 0.540 0.200 0.120 0.610

P/E 17.5 18.7 N/M 18.3 N/M N/M -7.6 15.3 13.7 22.1 53.6 28.7 5.7 N/M 9.6 18.9 9.8 16.7 22.5

YIELD 3.82% 7.23% 0.00% 4.22% 0.00% 1.11% 0.00% 6.51% 3.57% 2.95% 0.00% 2.32% 2.27% 3.14% 3.43% 3.50% 2.16% 3.53% 4.30%

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

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

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

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

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

YTD%12 MTH% 2.15% 3.88% 1.61% 4.11% 1.53% 2.74% 3.85% 6.28% 7.12% 2.08% 1.57% 4.58% 0.99% 4.25% 1.32% 4.12% 3.22% 5.64% 5.53% 8.48% 8.12% 12.28% 3.03% 4.85% 9.83% 0.60% 3.92% 3.72% 2.47% 3.16% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%

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

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

Capital One to her posts and the financial services company confirmed that there had been a data intrusion, so it contacted the FBI. Investigators said they traced the hack back to Thompson. She was arrested and her electronic devices were seized from her home in Seattle’s Beacon Hill neighborhood. Investigators said they did not find any evidence that Thompson sold or disseminated any of the information she had gathered. The charges carry penalties of up to 25 years in prison. US Magistrate Judge Michelle Peterson ordered on Wednesday that Thompson remain in custody pending trial. Peterson said after a detention hearing last week that Thompson is a safety risk to herself and others. The judge cited a Seattle police report alleging

that Thompson threatened a social media office in California. On May 21, the Mountain View Police Department opened a “terrorist threat” investigation after one of Thompson’s former coworkers reported that Thompson sent a message saying she was “going to California to shoot up (REDACTED) office I hope you are not there,” according to the report acquired by The Associated Press yesterday. The name of the social media company was redacted but the address was nearly identical to an address for LinkedIn. A message seeking comment from LinkedIn was not immediately returned. Thompson’s lawyers later told the judge that Seattle police investigated the threat and concluded that she “had no monetary or transportation means to come to California”.

NOTICE

NOTICE is hereby given that SHEREKA SHENETTE MILLER of, Sandilands Allotment, New Providence, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rdday of August, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that MARK ANDREW RATCLIFFE of,Prospect Ridge Condos, P.O.Box N-7891 New Providence, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rdday of August, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE OF DISSOLUTION International Business Companies Act (No. 45 of 2000) In Voluntary Liquidation Notice is hereby given in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of BLUE FOREST LIMITED has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 31st day of July, 2019

LEGAL NOTICE

NOTICE

KINDER SOUL LTD. NOTICE is hereby given as follows: (a)

Kinder Soul Ltd. is in Voluntary Dissolution under the provisions of Section 138(4) of the International Business Companies Act 2000.

(b)

The Dissolution of the said Company commenced when the Articles of Dissolution were submitted to and registered by the Registrar General of the Commonwealth of The Bahamas.

(c)

The Liquidator of the said Company is Beatus Limited, P.O. Box N7776-348, N.P., Bahamas. Dated 30th day of August, 2019. Beatus Limited Liquidator

Dated 30th day of August, 2019.

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

Beatus Limited Liquidator

PAGE 8, Friday, August 30, 2019

THE TRIBUNE

Dow surges 326 points on hopes for US-China trade talks By ALEX VEIGA Associated Press STOCKS finished with broad gains on Wall Street yesterday, driving the Dow Jones Industrial Average more than 300 points higher. The buying spree gave the market its second straight gain after a wobbly start to the week. The S&P 500 is now on track for its first weekly gain in five weeks. The rally was spurred by fresh hope among investors that new talks between the US and China set for September can lead to progress in the nations’ ongoing trade war. “Investors are hoping that some sort of renewed discussions could lead to a genuine truce,” said Sam Stovall, chief investment strategist at CFRA. “All the market is trading on today is optimism, not on reality.” The S&P 500 rose 36.64 points, or 1.3%, to 2,924.58. The Dow climbed 326.15 points, or 1.3%, to 26,362.25. The Nasdaq gained 116.51 points, or 1.5%, to 7,973.39. Investors favored smaller company stocks for the second straight day. The

Russell 2000 index added 24.01 points, or 1.6%, to 1,496.72. Major stock indexes in Europe also closed broadly higher. While the major indexes have stemmed some of their losses from earlier this month, they remain down about 2% for the month with one trading day left in August. If those losses hold, August would be the second monthly drop for the market this year after May. Uncertainty over the costly and long-running trade conflict fueled a wave of market volatility through much of August as traders worried that it could knock the global economy into a recession and hurt corporate profits. But yesterday brought some tendrils of optimism for traders. A published report noted that China’s commerce ministry said it is discussing the next round of in-person trade negotiations with the US to be held next month. In an interview with Bloomberg, Treasury Secretary Steven Mnuchin said talks with China are ongoing and are expected to continue in Washington, though he did not specify when.

Trade negotiators are due to meet in September for new negotiations, though there has been no sign of progress in recent days since an escalation by both sides earlier this month. The glimmer of hope gave investors reason to shift some of the money they’ve been plowing into the safety of US government bonds back to stocks. Even so, long-term bond yields remained below short-term ones, a so-called inversion in the US yield curve that has correctly predicted previous recessions. The yield on the tenyear Treasury rose to 1.50% from 1.47% late on Wednesday. The twoyear Treasury yield rose to 1.53% from 1.49% the day before. The yield for the ten-year Treasury has been flat or below that of the two-year this week. That’s fueled fears that the economy could be headed for a recession. Still, while an inverted yield curve has preceded every US recession, it is not a signal that one is imminent. It has taken 14 to 34 months for past recessions to begin following a yield curve inversion. And the stock market has continued to climb in those months or years before a recession.

“The global economy is slowing, and the question is whether trade will tip that into a global recession or whether or not it will just be a garden-variety slowdown,” said Jason Katz, senior portfolio manager at UBS Wealth Management USA. Last week, the trade conflict escalated again with both sides threatening new tariffs on each other’s goods, triggering a sharp sell-off in global markets. Some of the Trump administration’s additional tariffs on Chinese products take effect on Sunday and others on Dec 15. In addition, higher tariffs on a separate group of Chinese products are to take effect Oct 1. A mixed batch of new economic data didn’t dampen yesterday’s market rally. The government reported that gross domestic product, the broadest gauge of economic health, advanced at a moderate 2% annual rate in the April-June quarter, down from a 3.1% gain in the first quarter. The figure was lower than the government’s initial estimate a month ago of 2.1% growth. And business investment, which has weakened

in the face of the Trump administration’s trade wars, was revised lower and subtracted from growth in the April-June period. At the same time, consumer spending shot up to an annual rate of 4.7% in the second quarter, the best showing since the final quarter of 2014. That helped put investors in a buying mood. “While GDP was in line or slightly lower, the consumer piece of it, which accounts for two-thirds of our economy, was really strong and that’s one of the reasons behind the rally,” Katz said. Technology companies accounted for a big slice of yesterday’s gains. Microsoft rose 1.9% and Apple added 1.7%. Financial, industrials and communication services stocks also were big winners. JPMorgan climbed 2.3%, American Airlines Group gained 3.9% and Facebook rose 2.1%. Dollar General led all stocks in the S&P 500 after the discount retailer reported quarterly results that were better than analysts were expecting. Its shares vaulted 10.7%. Rival Dollar Tree gave up an early gain, sliding 1.9%. Walmart gained 1.2%, Nordstrom rose 2.8% and

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 86° F/30° C Low: 74° F/23° C

TAMPA

TONIGHT

SATURDAY

SUNDAY

MONDAY

TUESDAY

Variable clouds, a t‑storm in spots

A couple of showers and a t‑storm

Wind and rain from Hurricane Dorian

A couple of showers and a t‑storm

Variably cloudy with a thunderstorm

High: 87°

Low: 78°

High: 87° Low: 77°

High: 87° Low: 76°

High: 87° Low: 77°

High: 88° Low: 77°

AccuWeather RealFeel

94° F

84° F

95°-76° F

94°-79° F

94°-84° F

95°-82° F

High: 90° F/32° C Low: 76° F/24° C

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

almanac

ABACO

High: 86° F/30° C Low: 82° F/28° C

8‑16 knots

WEST PALM BEACH High: 89° F/32° C Low: 79° F/26° C

8‑16 knots

FT. LAUDERDALE E

FREEPORT

High: 87° F/31° C Low: 77° F/25° C

High: 87° F/31° C Low: 76° F/24° C

MIAMI

High: 88° F/31° C Low: 80° F/27° C

7‑14 knots

KEY WEST

High: 90° F/32° C Low: 79° F/26° C

ELEUTHERA

NASSAU

High: 87° F/31° C Low: 78° F/24° C

High: 86° F/30° C Low: 80° F/27° C

uV inDex toDay

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

8:11 a.m. 8:39 p.m.

3.5 3.9

2:13 a.m. 0.0 2:24 p.m. ‑0.2

Saturday

9:04 a.m. 9:29 p.m.

3.6 3.9

3:01 a.m. ‑0.1 3:18 p.m. ‑0.2

Sunday

9:56 a.m. 10:20 p.m.

3.7 3.7

3:50 a.m. ‑0.2 4:12 p.m. ‑0.1

Monday

10:49 a.m. 11:11 p.m.

3.7 3.5

4:39 a.m. ‑0.1 5:07 p.m. 0.0

Tuesday

11:43 a.m. ‑‑‑‑‑

3.6 ‑‑‑‑‑

5:29 a.m. 6:04 p.m.

0.0 0.3

Wednesday 12:04 a.m. 12:40 p.m.

3.3 3.5

6:21 a.m. 7:04 p.m.

0.2 0.6

Thursday

3.0 3.3

7:15 a.m. 8:07 p.m.

0.4 0.8

1:00 a.m. 1:40 p.m.

sun anD moon Sunrise Sunset

6:50 a.m. 7:31 p.m.

Moonrise Moonset

6:52 a.m. 8:04 p.m.

New

First

Full

Last

Aug. 30

Sep. 5

Sep. 14

Sep. 21

CAT ISLAND

High: 86° F/30° C Low: 81° F/27° C

7‑14 knots

7‑14 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 90° F/32° C Low .................................................... 80° F/27° C Normal high ....................................... 89° F/31° C Normal low ........................................ 76° F/24° C Last year’s high ................................. 91° F/33° C Last year’s low ................................... 80° F/27° C Precipitation As of 2 p.m. yesterday .................................. trace Year to date ............................................... 34.44” Normal year to date ................................... 24.75”

Amazon added 1.3%. Other retailers didn’t fare so well. Best Buy slumped 8%, one of the biggest decliners in the S&P 500, after the consumer electronics chain reported strong quarterly profit that was overshadowed by disappointing revenue growth. The company lowered its revenue outlook for the year, citing the expected impact of US tariffs on Chinese imports. Abercrombie & Fitch slid 15.1% after the teen clothing retailer lowered its full-year sales forecast. Crude oil rose 93 cents to settle at $56.71 a barrel. Brent crude oil, the international standard, gained 59 cents to close at $61.08 a barrel. Wholesale gasoline was unchanged at $1.68 per gallon. Heating oil climbed one cent to $1.86 per gallon. Natural gas rose five cents to $2.30 per 1,000 cubic feet. Gold fell $12.30 to $1,526.50 per ounce, silver dropped 15 cents to $18.17 per ounce and copper added one cent to $2.56 per pound. The dollar rose to 106.62 Japanese yen from 106.03 yen on Wednesday. The euro weakened to $1.1052 from $1.1079.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 86° F/30° C Low: 81° F/27° C

High: 86° F/30° C Low: 82° F/28° C

High: 86° F/30° C Low: 80° F/27° C

W S

LONG ISLAND

tracking map

High: 86° F/30° C Low: 81° F/27° C

7‑14 knots

MAYAGUANA High: 87° F/31° C Low: 80° F/27° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 86° F/30° C Low: 82° F/28° C

High: 86° F/30° C Low: 81° F/27° C

GREAT INAGUA High: 88° F/31° C Low: 79° F/26° C

6‑12 knots

4‑8 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS SE at 8‑16 Knots NW at 30‑40 Knots SE at 7‑14 Knots SE at 4‑8 Knots ESE at 6‑12 Knots NNW at 6‑12 Knots ESE at 4‑8 Knots SSE at 4‑8 Knots ESE at 7‑14 Knots WSW at 30‑40 Knots ESE at 8‑16 Knots E at 10‑20 Knots SE at 7‑14 Knots NNE at 4‑8 Knots SE at 4‑8 Knots SSW at 3‑6 Knots SE at 6‑12 Knots N at 4‑8 Knots N at 4‑8 Knots S at 6‑12 Knots SE at 10‑20 Knots SSE at 3‑6 Knots SE at 6‑12 Knots SSE at 4‑8 Knots SE at 7‑14 Knots N at 6‑12 Knots

WAVES 2‑4 Feet 6‑10 Feet 1‑2 Feet 1‑2 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 1‑3 Feet 2‑4 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 4‑7 Feet 3‑5 Feet 1‑3 Feet 1‑2 Feet 1‑3 Feet 1‑2 Feet 1‑3 Feet 1‑3 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 4 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 85° F 85° F 89° F 89° F 86° F 86° F 86° F 86° F 85° F 85° F 81° F 81° F 88° F 88° F 87° F 87° F 87° F 87° F 85° F 85° F 84° F 84° F 87° F 87° F 87° F 87° F