09072017 business

business@tribunemedia.net

THURSDAY, SEPTEMBER 7, 2017

$4.00 GOVT FEARS ‘GRAND LUCAYAN REPEAT’ ON NEW PROVIDENCE

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government is anxious to avoid a ‘Grand Lucayan repeat’ in Nassau following the passage of Hurricane Irma, the Deputy Prime Minister said yesterday.

K P Turnquest told Tribune Business that Freeport’s woes had shown how important it was to ensure key assets, which drive the economy, re-open promptly following passage of a major storm.

He added that the loss of economic activity and jobs stemming from the Grand Lucayan’s closure, and subsequent Memories pull-out, and hit to the Government’s tax revenues had a greater long-term impact than immediate restoration costs.

“We have a significant storm,” the Deputy Prime Minister said of Irma’s potential fiscal impact,

Anxious key economic assets re-open quickly DPM: Irma response as ‘efficient as possible’ ‘Further spending controls’ will lead recovery “and it’s not only the cost of restoration and recovery.

“It’s the loss of revenue as a result of any exigency Orders (tax exemptions) that have to be granted, as well as disruption to economic flows so, yes, we’re very concerned but hoping for the best.”

Then, referring to the Grand Lucayan’s closure, he added: “We’ve seen what happened to Grand Bahama with disruption to economic flows, and have See PG B2

Fear Exuma farming progress could be ‘washed down drain’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net EXUMA’S Chamber of Commerce president fears the island’s farming progress could be washed “down the drain” if Irma scores a direct hit on the island.

Pedro Rolle told Tribune Business that Exuma had enjoyed its best year for agriculture since he returned to the island six years ago, with farmers enjoying bumper crops and growing new vegetables.

He warned, though, that Exuma’s young could quickly desert farming again if Irma’s wind and

‘You’ll have to underwrite us’ if Irma hits

$4.29

$4.30

$4.29

Baha Mar orders guest ‘evacuation’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHA Mar’s guests will have to seek alternative “local shelter” if they are unable to leave the Bahamas, the mega resort confirming its endThursday closure prior to Hurricane Irma’s arrival.

Robert Sands, Baha Mar’s senior vice-president of government and external affairs, told Tribune Business it had already arranged the early departure of “almost 100 per cent” of guests ahead of the Category Five ‘super storm’s potential strike.

Those stuck in Bahamas told: Find ‘local shelter’ $4.2bn resort closing endThursday for Irma Arranges departure for ‘almost 100% of guests’ He confirmed that Baha Mar was “suspending services” at “end of business” on Thursday (today)

ROBERT SANDS because of Irma’s strength and size, describing the storm as an unprecedented event that had never been

witnessed before in the Bahamas.

“We will not be open,” Mr Sands said. “We’re suspending services until the end of business on Thursday until the storm passes.

“Our primary goal is the safety and security of our guests and staff.

We’ve made arrangements for almost 100 per cent of guests staying with us to advance their travel arrangements.

“Once the storm passes, we’ll reassess our position and be in a position to welcome back guests as quickly as possible.”

See PG B4

Irma drives Super Value sales 74% above normal

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SUPER Value’s sales peaked 74 per cent above normal on Sunday due to Irma-related preparations, as businesses ready to deal with potential supply chain disruptions.

Rupert Roberts, the supermarket chain’s owner and president, told Tribune Business his stores had been “running short” of bread and water consistently as

Chain frequently ‘runs short’ on water, bread Concerns on Florida hit’s supply chain impact consumers stocked up on essential supplies.

“As fast as they supply us we sell it,” he said. “On Sunday some of the stores

were as high as 74 per cent above normal, but we’re not trying to calculate figures; we’re trying to serve the public right now. We’re having our storm right now.”

Irma, a Category Five ‘super storm with winds reaching 185 miles per hour, is currently forecast to score a near-direct hit on Miami and move up the Florida eastern seaboard as a major storm.

This has raised concerns of supply chain and logistics See PG B3

MICHAEL MAURA

Chamber chief says ‘best year’ for farming Concerned storm will drive young away rain washed away seeds and crops already planted.

“If we were to get the peripheral stuff like with Matthew last year, we will not be impacted,” Mr Rolle See PG B2

TOURISM MINISTER EYEING QUICK POST-IRMA REBOUND

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Minister of Tourism yesterday expressed optimism that much of the industry will resume normal operations “in a fairly short timeframe” if Irma holds its forecast track.

Dionisio D’Aguilar told Tribune Business that the Category 5 ‘super storm’ would spare the Bahamas’ major resort properties, which are located on New Providence, Grand Bahama, Abaco, Eleuthera, Exuma and San Salvador, the worst of its wrath should the meteorologists prove correct.

“If it maintains its current path we reckon we will be up and running, and back See PG B3

Provided storm holds current course DNA chief: Bahamas ‘can’t afford’ big hit

DIONISIO D’AGUILAR

STANDARD SIZE CGI WINDOWS IN STOCK Premier Dealer

Most extensive line of Windows, Doors, Entrance Doors & Hurricane Shutters

325-6633/4 | email. sales@stormframewindows.com | website. stormframewindows.com

PAGE 2, Thursday, September 7, 2017

THE TRIBUNE

Fuel suppliers: No need to ‘panic buy’

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net FUEL suppliers yesterday reassured Bahamians they have sufficient fuel stocks to cope with Hurricane Irma, saying there was no need for a repeat of the “panic buying” witnessed in Hurricane Matthew’s aftermath.

Valentino Hanna, Esso (Bahamas) country manager, told Tribune Business: “We are well supplied now, and we will have supply certainly

through the duration of the passing of this storm.

“We have put on on extra deliveries to the stations to ensure they remain topped up. We will continue to provide fuel to the motoring public right up until it is no longer safe to do so, at which time we will shut down.”

He added: “As soon as the all-clear is given our team will be back out to see if it is safe to reopen the stations and begin replenishing supplies as soon as the trucks can make it to Clifton and to the service stations.

Govt fears ‘Grand Lucayan repeat’on New Providence From pg B1 not recovered from that as yet.

“This [Irma] could serve to be a further setback in that regard, and we certainly do not want to see that here in the capital. We have to be concerned about every driver of the economy, and that this storm has no economic effects.

“You’re talking about the loss of tax revenues from

there, but also jobs and employment for citizens.”

New Providence’s main ‘economic drivers’, as was the case in Freeport, are its hotel and tourism plant - especially the ‘mega destination’ resorts of Atlantis and Baha Mar. Other properties, such as the British Colonial Hilton, as well as the Breezes and Sandals all-inclusives, are also key assets whose loss for any length of time would be especially damaging.

“There is no need for what happened the last time to occur again. We really don’t need that sort of panic buying, which really caused shortages at the site level but not at the island level.”

Gas stations were inundated with customers following Hurricane Matthew’s passage, sparked by fears of fuel shortages after pictures began circulating of a destroyed Clifton jetty where supplies were typically unloaded from tankers. Fuel wholesalers, however, subsequently dispelled that rumour.

Vasco Bastian, operator of the Esso station at East Street and Soldier Road, told Tribune Business that Bahamians were being proactive ahead of Hurricane Irma.

“People are being very proactive. They are coming in to full up vehicles and gas containers for their generators,” he said.

“People are behaving very orderly and taking hurricane preparation very seriously. Everything is going fine. I couldn’t be happier with my people.

They are behaving themselves and they are being

proactive, buying diesel, gas and ice.”

Earlier this week, Rubis (Bahamas) issued a notice informing Bahamians that it has “adequate stocks” of unleaded gasoline and diesel fuel at its Clifton terminal to supply its service stations throughout September and October 2017.

“Rubis has implemented its hurricane response plan and is fully prepared in the event that Hurricane Irma impacts the Bahamas,” the company said.

Sit Franklyn Wilson, chairman of FOCOL Holdings, the Shell operator,

told Tribune Business: “FOCOL is very well positioned to meet what we hope would not happen, but should it happen we believe we have taken all practical steps in preparation.

“We certainly are in better position now than we were with Hurricane Matthew. At Matthew we were reasonably wellpositioned. We have taken the necessary steps with the added advantage since Hurricane Matthew to strengthen our infrastructure capacity, and we are highly confident that we are prepared.”

Financial services, construction, real estate, retail/ wholesale are also important industries, and all are concentrated in Nassau, which is home to twothirds of the Bahamian population.

The loss of both the Royal Oasis in 2004, and the Grand Lucayan last year in Hurricane Matthew’s wake, is likely preying on the minds of Mr Turnquest and other Grand Bahama residents. The island has never fully recovered from the first resort closure, and many view the

Grand Lucayan impasse as a repeat of that situation.

Mr Turnquest, meanwhile, said the Government’s response to Hurricane Irene will be “as efficient as possible” given the potential implications for its fiscal projections and the Bahamas’ sovereign credit rating.

Moody’s has given the Minnis administration 12-18 months to demonstrate it can execute effectively on its fiscal consolidation plan, and referred specifically to the Bahamas’ exposure to major hurricanes in placing

a ‘negative’ outlook on this nation.

“The negative outlook reflects potential downside risks to the fiscal consolidation process posed by weaker-than-expected growth, exposure to climate-related shocks in the form of hurricanes, and implementation risks associated with measures to rein in expenditure growth and enhance revenues,” said Moody’s. “Absent successful fiscal consolidation, the Bahamas’ fiscal and credit profile would likely weaken.”

“They did indicate that was a distinct risk,” Mr Turnquest agreed. “We certainly understand that.

Unfortunately, there’s nothing we can do about it. It’s out of our control.

“Be that as it may, we intend to control and step up our mitigation efforts in the event we do have significant exposure. Even as we prepare for Hurricane Irma, we are being as efficient as possible and will continue that through, if and when we have to do reconstruction.”

The Minnis administration has projected a $323 million fiscal deficit for the 2017-2018 Budget year, but had been hoping to slash this via a package of austerity measures headed by a 10 per cent “across-the-board” cut to its $2.67 billion recurrent spending estimates.

Moody’s revealed that these measures are intended to slash spending

by $100 million, a sum equivalent to 1.1 per cent of GDP, and could reduce the deficit to 2.8 per cent of economic output.

With Irma threatening to blow a hole in this forecast, Mr Turnquest said the Government would first implement “further spending controls” and seek to repurpose funding from other areas in the Budget to finance reconstruction efforts.

“We’ll see what happens,” he told Tribune Business, “but if the need arises we will look at further expenditure controls in the first instance. If the need arises we will look at further borrowing, but that will be done in conjunction with further mitigation efforts.”

The cost and scale of any reconstruction efforts, Mr Turnquest acknowledged, will depend on Irma’s strength and the Bahamian islands it strikes. While the Category Five storm’s forecast track appeared to spare New Providence the worst, it takes the storm close to islands such as Grand Bahama, Bimini and Andros.

He confirmed that the Government expected to receive an insurance payout from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) “in the worst case scenario”, should Irma hit the Bahamas’ most-populated islands and damage public infrastructure.

Fear Exuma farming progress could be ‘washed down drain’ From pg B1 said. “But if this thing comes into our vicinity, it will be devastating.

“You’d have to write a cheque to us [from Nassau] to underwrite our economy.

It’s a serious thing.”

Turning to the island’s fledgling agriculture revival, Mr Rolle added: “This has probably been our most productive year in terms of farming - certainly in all the time I’ve been back in Exuma for the last six years - with the farmers starting to do certain things.

“If we have any amount of rain or wind, that goes down the drain. Water melons and tomatoes were grown, and lots of peppers and corn. We’ve had more of everything this year than we’ve ever had before, and they added things that they didn’t grow a lot.”

Mr Rolle said spinach and cucumber, in particular, were grown for on-island consumption “and went down very well”.

Underlining the importance of Exuma’s agriculture revival, he told Tribune Business: “Over time what happened is that farming was kind of abandoned as the elderly got older, and young people were not motivated to farm as they could not see how they were going to make a living.

“When next year comes, are they going to say: ‘To

hell with it’ and get a job in a hotel if Irma wipes out their crops. Does that mean the headway we’ve made with farming goes down the drain?”

Mr Rolle said that in the absence of mortgages, credit cards and other financial products, previous generations of Exumians had little choice but to farm and live in a communal way.

He added that Exuma residents were taking Irma seriously, as shown by the fact that there were just two patrons sitting in the same restaurant with him.

This, Mr Rolle suggested, was evidence that the island’s population were at the grocery and hardware stores, and busy securing their properties and boats.

“It’s kind of scary when you take a look at the strength of that storm,” he said. “If it comes, at the very least we’re going to be hit with some wind and rain, so we need to be prepared for that.”

Mr Rolle added that Exuma’s tight-knit nature provided a strong defence against the kind of ‘price gouging’ concerning the Government.

“I think the risk of it happening here is much less,” he told Tribune Business. “People tend to know what the price of something is; they won’t settle for doubling.

Share your news

The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

THE TRIBUNE

Thursday, September 7, 2017, PAGE 3

RESORTS WORLD IN IRMA CLOSURE

Tourism minister eyeing quick post-Irma rebound From pg B1 in business, in a fairly short timeframe,” the Minister said, as Nassau, in particular would be spared “the full brunt of it”.

Mr D’Aguilar said Irma’s current track took it across “lower density” tourism areas such as the south-eastern Bahamas, where resorts and similar guest accommodation were smaller and fewer in number.

“On the current track, it will be a lower density impact,” he added. “The majority of the high density tourism areas will be less affected. The areas that will be highly impacted are the ones where we have a lower density of hospitality product.

“At the moment it’s a small portion of our population and, as a result, a small portion of our tourism product that will be adversely impacted by this storm, but that could change.”

Mr D’Aguilar reiterated the Ministry’s concern about media coverage that could portray the entire Bahamas as devastated by Irma, scaring away potential visitors when such destruction was confined to fewer islands.

“We’re always very concerned that the message gets out that the destination is devastated, when only certain parts will have been,” he told Tribune Business.

The Minister acknowledged that the sudden change to Bahamasair’s international schedule was likely to have caused inconvenience for some, but said it was essential to divert

all available planes for the southern Bahamas preIrma evacuation effort.

“I think we’ve gotten out almost all that want to go,” Mr D’Aguilar said. “I think we’ve fulfilled that goal.”

Meanwhile Branville McCartney, the Democratic National Alliance’s (DNA) leader, echoed those warning that the Bahamian economy and Public Treasury “cannot afford” a Matthew-type hit from Hurricane Irma.

Warning that the Bahamas “cannot take it”, he included himself among those still or just recovering from Matthew’s ravages almost 12 months later.

“The Bahamas cannot afford a further hurricane,” Mr McCartney argued. “We have not recovered from the last two hurricanes, Matthew and Joaquin.

“From a personal point of view, about two weeks ago I completed renovations on a triplex property in Coral Harbour that was seriously damaged from the last hurricane almost a year ago.

“That property was a mess,” the DNA leader recalled. “It was next to the canal, and almost got deluged by severe flooding, roof damage. It was completely devastated and took almost a year to renovate.

We still have persons in homes where the roofs have not been repaired, and I’m very concerned for them in that regard.

“Matthew was devastating, and if this were to come and be the same type of devastation, it doesn’t bode well for our already-struggling economy where things are tough. We can’t take it.

I don’t think the Bahamas

Irma drives Super Value sales 74% above normal From pg B1 disruption for the Bahamas and many businesses, given that the primary ports serving this nation - Palm Beach, Miami, Everglades and Jacksonville - are all located in Irma’s path.

A direct hit on Florida could also result in building materials shortages due to the reconstruction demand in the south-east US, in turn impacting restoration efforts here and pushing up prices in the Bahamas.

Mr Roberts acknowledged the concerns, but explained that Super Value had moved quickly once it knew Irma’s likely track to bring in groceries and other perishables early.

“We bring perishables in three times’ a week; Monday, Wednesday and Friday,” he said. “When we knew what the hurricane was doing, we doubled up on Wednesday.

“We have a week’s supply of perishables in the warehouse, secured and stored.

Our concern is that we’re going to sell out from the storm, and the boat on Monday is uncertain.’

Mr Roberts said Super Value’s warehouse contained three months’ worth of inventory valued at “at least $10 million”, with containers of chicken kept refrigerated by back-up from three generators.

Michael Maura, the Nassau Container Port’s (NCP) chief executive, told Tribune Business that Irma’s impact on the US ports that serve New Providence was “a concern”.

He said the Port of Palm Beach, from which Tropical Shipping sails, provides NCP and Nassau with 50 per cent of its cargo volume; Miami, Port Everglades and Jacksonville a combined 25 per cent; and Freeport making up the balance.

“The storm may not significantly impact New Providence, but if it hits any of those ports it will be a concern for us,” Mr Maura confirmed.

He explained that shipping companies such as Tropical can re-route cargo to other ports if one, say Palm Beach, was hit, with agreements to place it on another company’s vessels.

“There are contingency plans around all these things,” Mr Maura said.

“We look at Hurricane Irma as being more disruptive than devastating; that’s the approach we’re taking at this point in time.”

However, Mr Maura was speaking before Irma’s forecast track altered further east yesterday, placing it on a path to impact all Florida’s ports.

The NCP chief executive said the Arawak Cay-based port was now focusing on “evacuating” empty

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

BRANVILLE MCCARTNEY can take another Matthewtype storm. The country can’t afford it, and it will inevitably set us back.”

Recalling how Matthew’s shock to the Government’s finances led to the Standard & Poor’s ‘junk’ downgrade last Christmas, Mr McCartney acknowledged that Irma could lead to the same fate with Moody’s.

“We just don’t have the money,” the DNA leader told Tribune Business. “It’s not there. The economy has not improved in any form or fashion since the election. The situation certainly lends itself to becoming another downgrade.”

Mr McCartney said the Bahamian economy had been struggling for sustainable growth ever since the 2008-2009 recession, and added: “There doesn’t seem to be any light at the end of the tunnel.

“From a retail point of view people don’t have the money; from a legal profession point of view I have a bunch of receivables people can’t pay; and the reality for property rentals is that a lot of people are out of work and just can’t pay on time.

From a business viewpoint, things are already tough.” containers as part of its hurricane readiness plan, in a bid to ensure none were blown into the harbour where they could prevent ships’ passing or docking.

Mediterranean Shipping Company’s (MSC) vessels came in on Tuesday to accomplish this, with Tropical calling yesterday. “While bringing in cargo for businesses on New Providence, they were evacuating empties on those vessels,” Mr Maura said.

“It’s important to us as it reduces the amount of containers before the storm, and minimises the risk of containers being blown and swept into the harbour, where they could block a vessel from berthing.”

Besides communications with its tenants and licensees, Mr Maura said NCP was also taking any remaining containers and “block stacking” them in a rectangular pattern that can “withstand the greatest wind and water”.

Mr Roberts, meanwhile, said he was considering moving his family from their home on New Providence’s southern shores to Super Value’s Golden Gates headquarters to avoid Irma’s potential flooding and storm surges.

He also expressed concern over Irma’s potential impact on his multi-million dollar investment in Bimini Sands and Marina, the 210-unit resort complex on southern Bimini.

The storm’s hurricane force winds are likely to come very close.

RESORTS World Bimini (RWB) yesterday confirmed its temporary closure ahead of Hurricane Irma’s potential arrival.

Bimini’s ‘anchor property’, in a release yesterday, said Irma, currently a Category Five storm,

has a projected path that includes the Bahamas and is forecasted to impact the northern islands with intense winds on Friday.

“Our top priority at all times is the safety and wellbeing of both our customers and our team members,” said Resorts World Bimini president Missy Lawrence.

“Given the high probability of damage to property, and risk to lives associated with a Category Five storm,

we are working diligently to prepare the resort and get our guests and employees quickly out of harm’s way.”

Around 15 guests and hundreds of employees are in the process of departing Bimini, and the resort will be secured. An announcement concerning damage, and an estimate for when normal resort operations will resume, will be made after a damage assessment is performed.

INAGUA’S TOP EMPLOYER CLOSES AHEAD OF IRMA

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

THE union leader representing line staff at Inagua-based Morton Salt said many workers had heeded evacuation calls, with the company shutting down operations yesterday ahead of Irma.

Jennifer Brown, president of the Bahamas Industrial Manufacturers & Allied Workers Union (BIMAWU), told Tribune Business: “Wednesday was the last day for work. In the office where I work we started covering up computers and that sort of thing.

A lot of the employees

took leave because of the evacuation and have left the island.”

Ms Brown said the salt manufacturer employs just over 200 people on the island.

“We met with company executives on Tuesday, and it was all about getting prepared for the hurricane.

They said that within 36 hours they would shut the plant down,” she said.

“They told employees who wanted to leave even before the warning came out to apply for leave. The airport is packed right now with folks trying to leave the island.”

During a national address Tuesday night, Prime

Minister Dr Hubert Minnis appealed to residents of Mayaguana, Inagua, Crooked Island, Acklins, Long Cay and Ragged Island to evacuate their respective areas, stressing emergency personnel and assistance will not be available during the immediate impact of “potentially catastrophic” Hurricane Irma.

“The last major hurricane that did damage was Hurricane Ike. Employees were home for like two weeks,” said Ms Brown.

She added that roof damage was a major concern for Inagua, as well as concern over whether the island’s new dock will be able to survive the effects of the storm.

www.ub.edu.bs

REQUEST FOR PROPOSALS

University of The Bahamas Alumni Magazine The University of The Bahamas Office of Institutional Advancement and Alumni Affairs invites competitive proposals from suitably qualified vendors for the high quality graphic design and layout of the University of The Bahamas Alumni Magazine Issues 1 and 2 for Fall 2017 and Spring 2018 respectively.

The magazine will be produced as a full-colour, quality design that presents compelling narratives of UB’s happenings, developments, milestones and achievements and showcases how faculty, staff, alumni, students and supporters are helping UB to achieve its mission of “advancing and expanding access to higher education, promote academic freedom, drive national development and build character through teaching, learning, research, scholarship and service”.

The complete RFP is accessible online at http://www.ub.edu.bs/get-to-know-us/rfps/.

SUBMISSIONS Sealed copies of the RFP must be hand-delivered in triplicate to the Office of the Vice President of Institutional Advancement and Alumni Affairs addressed as follows: Ms. Davinia Blair Vice President, Institutional Advancement and Alumni Affairs Top Floor, Keva M. Bethel Building, University of The Bahamas University Drive P.O. Box N-4912 Nassau, The Bahamas For further information contact: 302-4301 or 302-4366.

DEADLINE The deadline for proposal submissions is: 4:00 p.m. EST Friday, 8th September 2017.

PAGE 4, Thursday, September 7, 2017

Baha Mar orders guest ‘evacuation’ From pg B1 Mr Sands did not say how many visitors were affected by Baha Mar’s move, nor what would happen to those guests unable to revise their travel plans and return home.

However, Scott Allen, general manager of the 1,800-room Grand Hyatt at Baha Mar, told visitors in a September 5 letter that they would have to leave the resort, and seek alternative accommodation locally, if unable to leave New Providence.

“Should the island be placed under a hurricane warning, we will require all guests to evacuate the

property - either to local shelter or to evacuate the island,” Mr Allen wrote.

“Should you wish to make early plans to depart the island, our concierge and front office teams are prepared to assist in any way possible to make this a seamless process for you.” New Providence is now under that ‘hurricane watch’ alert.

The Grand Hyatt property is the only Baha Mar hotel open at the moment, besides the long-existing Melia, as the $4.2 billion development’s prospective new ‘owner’ awaits construction completion of its Rosewood and SLS properties.

THE TRIBUNE However, Baha Mar’s hurricane closure is likely to raise eyebrows among many Bahamians, not least because many locals and residents frequently opt to stay at local resorts to ‘ride out’ storms.

Visitors often do likewise, with New Providence resorts perceived as being among the most secure locations during a hurricane, not least because of continual generator power.

This also provides hotels with income at a time when incoming guests have cancelled, and several observers suggested there may be more to Baha Mar’s closure move.

Mr Sands, though, denied that Baha Mar’s “suspension of services” was odd when compared to normal industry practice.

“The reality is that no one in this region has experienced a hurricane of this magnitude,” Mr Sands told Tribune Business, “and the first and foremost goal of a hurricane preparedness programme is the safety and security of guests and associates [staff].

“It mirrors what’s happening, and what the Government is doing, with other islands as well.

There’s no history of a storm of this magnitude and wind force strength.

“We’re implementing our company’s emergency response plan, and ensuring we certainly take care of our guests and ensure their safety, and then our associates.”

There are currently 6,000 visitors on New Providence,

some 4,000 of whom are on New Providence.

Irma’s timing will be especially unwanted by Chow Tai Fook Enterprises (CTFE), Baha Mar’s prospective owner, and its contractor, China Construction America (CCA).

CCA is currently racing to hit a ‘substantial completion’ date of October 15 for the project, which is now less than six weeks out.

That is when it is supposed to have completed the SLS Lux property, which is due to open before year-end.

Baha Mar’s Rosewood branded property is due to open in April 2018, but the completion deadlines for both could be pushed back depending on how much damage Irma inflicts.

This, too, could impact CTFE’s closing of Baha

Mar’s purchase from the China Export-Import Bank, the deadline for which was extended to December 1 this year prior to the Christie administration demitting office.

The closing is dependent on CCA ‘substantially completing’ Baha Mar’s construction, with CTFE unwilling to completely rely on a contractor that had previously failed to meet several deadlines to complete on time, and on budget.

And, hovering over all of this, is the uncertainty created by the Chinese government’s policy change, which now regards overseas investments by Chinese companies in the hotel and gambling industries as ‘restricted’ and ‘banned’, respectively.

EU top court orders EU court rejects Hungary-Slovakia appeal of refugee quotas reexamination of Intel antitrust fine

By PABLO GORONDI AND LORNE COOK Associated Press

BRUSSELS (AP) — The European Union’s top court on Wednesday sent back a case on a billion euro fine against chip maker Intel Corp. for further legal examination.

Wednesday’s ruling had been eagerly awaited for its implications on the powers of the antitrust office of the EU. Now the case could be in limbo for months, if not years.

In 2009, the EU fined Intel Corp. a record 1.06 billion euros (currently worth $1.26 billion), saying the world’s biggest computer chip maker used illegal sales tactics to shut out smaller rival AMD. The EU’s executive Commission says Intel broke EU competition law by exploiting its dominant position with a deliberate strategy to keep AMD out of the market that limited choice for millions of European consumers.

The European Court of Justice on Wednesday sent the case back to the lower General Court so it can examine more arguments from Intel.

For eight years, the U.S. chip giant has claimed that EU regulators made serious mistakes in levying the record fine for monopoly abuse and have called the fine “manifestly disproportionate.”

The EU said that Intel gave rebates to some computer manufacturers for buying all or almost all their x86 computer processing units and paid them to stop or delay the launch of computers based on AMD chips.

The EU General Court upheld the fine in 2014 but now, the top court referred it back for further examination to see to what extent such rebates restricted competition.

BUDAPEST, Hungary (AP) — The European Union’s top court on Wednesday rejected legal action by Hungary and Slovakia seeking to avoid accepting refugees under an EU-wide plan, a decision seen as a victory for those countries bearing the greatest burden of Europe’s migrant influx.

In a long-awaited test case, the European Court of Justice said it had “dismissed in its entirety the actions brought by Slovakia and Hungary.”

Hungary branded the ruling “outrageous and irresponsible,” while Slovakia said it would accept the verdict even if it still opposes legally-binding EU refugee quotas.

Human rights group Amnesty International welcomed the ruling, saying Hungary and Slovakia had been trying to turn their countries into “refugee-free zones.”

A HUNGARIAN police officer stands guard at Serbia’s border with Hungary near a makeshift camp for migrants in Horgos, Serbia. The European Court of Justice yesterday, rejected efforts by Hungary and Slovakia to stay out of a European Union scheme to relocate refugees. (AP Photo/Darko Vojinovic, FILE) Greece and Italy have been on the front line of the torrent of migrants and refugees flooding into Europe in the last few years, as hundreds of thousands of people from war zones like Syria and Iraq or job-seekers mostly from Africa have arrived on their shores.

EU nations agreed in September 2015 to relocate 160,000 refugees from

THE BAHAMAS SOCIETY OF ENGINEERS

NOTICE BSE ANNUAL GENERAL MEMBERSHIP MEETING WEDNESDAY, November 1st, 2017 @ 6:00 PM BEC TRAINING ROOM, BIG POND, BLUE HILL ROAD The Bahamas Society of Engineers will hold its Annual General Membership Meeting at 6:00 pm on Wednesday, November 1st, 2017 at the BEC Training Room, Big Pond, Blue Hill Road.

MEETING AGENDA I. REVIEW OF MINUTES OF THE LAST AGM II. PRESENTATION OF THE ANNUAL REPORTS III. ELECTION OF NEW OFFICERS (ALL POSITIONS) IV. ANY OTHER BUSINESS All BSE Members are requested to attend and are reminded to have their membership fees current if they intend to participate in the nomination and voting process. Membership dues can be paid at the meeting that evening.

PLEASE RSVP YOUR ATTENDANCE TO: admin@bahamasengineers.org or call (242) 552-7312.

REFRESHMENTS WILL BE SERVED IMMEDIATELY FOLLOWING THE MEETING.

Greece and Italy over two years, but only around 27,700 people have been moved so far, according to figures released Wednesday.

Hungary and Slovakia were seeking to have the plan annulled.

Hungary and Poland have refused to take part altogether, while Slovakia has accepted only a handful of refugees from Greece.

The refugee sharing plan was adopted by a “qualified majority” EU vote — around two thirds of the bloc’s members — and the court held that this was appropriate, saying the EU “was not required to act unanimously” on this decision.

The court noted the small number of relocations so far is due to factors that the EU could not have foreseen, including “the lack of cooperation on the part of certain member states.”

Hungarian Foreign Minister Peter Szijjarto called the court ruling “outrageous and irresponsible.”

“The decision puts at risk the security of all of Europe and the future of all of Europe as well,” Szijjarto said, calling the ruling “contrary to the interests of the European nations, including Hungary.”

Szijjarto said Hungary would focus on defending the EU’s external border against incoming migrants and asylum-seekers and urged the EU to abandon its “unsuccessful” refugeesharing plan.

“The real battle is only just beginning,” Szijjarto said, vowing that Hungary would continue to challenge any EU attempt to resettle migrants in Hungary without its approval.

Slovakian Prime Minister Robert Fico said he respected the court decision, but that his government still does not like the relocation plan, which he and others in Eastern Europe see as quotas imposed on them by unelected EU bureaucrats in Brussels.

“We fully respect the verdict of the European Court of Justice,” Fico told reporters, adding that his government’s negative stance on the relocation plan “has not changed at all.”

Fico said the scheme was a temporary solution that will end on Sept. 26. He says he believes his country doesn’t face any sanctions from the EU over its stance.

EU officials say countries will still have to share eligible asylum-seekers arriving in Greece and Italy up until Sept. 26.

Despite the court ruling, Polish Prime Minister Beata Szydlo said her country will stick by its refusal to take in refugees.

Hurricane impacts talks between pipeline company, state BISMARCK, N.D. (AP) — Hurricane Harvey has impacted the pace of negotiations between the company that built the Dakota Access oil pipeline and North Dakota regulators investigating potential violations of state rules during construction.

Public Service Commissioner Julie Fedorchak says attorney negotiations have continued but Texas-based Energy Transfer Partners also has been busy with hurricane response.

ETP is based in Dallas but has facilities on the

Gulf Coast. The company said it dedicated about 1,000 employees to a hurricane response team.

North Dakota alleges ETP improperly reported the discovery of American Indian artifacts. The state also is looking into whether crews removed too many trees and improperly handled some soil while laying pipe in the state. Both are potentially finable offenses.

The PSC said Wednesday it's too early to know when negotiations might conclude.

THE TRIBUNE

Thursday, September 7, 2017, PAGE 5

CAUTION RULES IN MARKETS AMID KOREA, HURRICANE WORRIES

By The Associated Press

LONDON (AP) — Global stock markets drifted lower Wednesday amid rising risk aversion linked to the ongoing tensions on the Korean Peninsula, while oil prices pushed ahead as Hurricane Irma hit the Caribbean.

KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares was down 0.7 percent at 7,324, while France’s CAC 40 fell 0.2 percent to 5,076. Germany’s DAX was steady at 12,121. U.S. shares were poised for a flat opening, with Dow futures and the broader S&P 500 futures unchanged.

NORTH KOREA: Investors are yet to see signs that the geopolitical tensions between the United States and North Korea, which surged after the North’s sixth nuclear test on Sunday, would ease any time soon. On

Tuesday, President Donald Trump said in a tweet that he has given the goahead for Japan and South Korea to buy a “substantially increased amount” of sophisticated military equipment from the United States. South Korea is seeking more military might and considering bringing back the U.S. nuclear weapons.

ANALYST TAKE: “Global stock markets appear to be in a period of nervous uncertainty, as the threat of another North Korean test looms large over any investors wishing to invest in risky assets,” said Joshua Mahony, market analyst at IG. ASIA’S DAY: Earlier in Asia, most stock markets stuttered with Japan’s Nikkei 225 down 0.1 percent at 19,357.97 and South Korea’s Kospi 0.3 percent lower at 2,319.82. Hong Kong’s Hang Seng index fell 0.5 percent to 27,613.76 and Shanghai Composite Index was flat at 3,385.39.

Australia’s S&P/ASX 200 fell 0.3 percent to 5,689.70.

HURRICANE: As well as developments surrounding North Korea, investors, particularly in the energy markets, are monitoring the most powerful Atlantic Ocean hurricane in recorded history. Irma made its first landfall in the islands of the northeast Caribbean early Wednesday, roaring along a path pointing to Puerto Rico, the Dominican Republic, Haiti and Cuba before possibly heading for Florida over the weekend.

OIL: Benchmark U.S. crude was up 25 cents, or 0.5 percent, at $48.91 a barrel on the New York Mercantile Exchange, while Brent crude, used to price international oils, gained 69 cents to $54.07 per barrel in London.

CURRENCIES: The euro was up 0.1 percent at $1.1925 while the dollar rose 0.1 percent 108.87 yen.

A CURRENCY trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, yesterday. Asian stock markets were lower on Wednesday as investors found ample reasons to stay away from risky assets amid still-high tensions on the Korean Peninsula and the powerful hurricane approaching the United States. (AP Photo/Lee Jin-man)

Trump overrules GOP with deal on spending, debt, Harvey aid

By ERICA WERNER Associated Press WASHINGTON (AP) — President Donald Trump briskly overruled congressional Republicans and his own treasury secretary Wednesday to cut a deal with Democrats to keep the government operating and raise America’s debt limit. The immediate goal was ensuring money for hurricane relief, but in the process the president brazenly rolled his own party’s leaders.

In deal-making mode, Trump sided with the Democratic leaders — “Chuck and Nancy,” as he amiably referred later to Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi — as they pushed for the three-month deal, brushing aside the urgings of GOP leaders and Treasury Secretary Steven Mnuchin for a much longer extension to

PRESIDENT Donald Trump pauses during a meeting with, from left, Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, DN.Y., House Minority Leader Nancy Pelosi, D-Calif., and other Congressional leaders in the Oval Office of the White House, yesterday. (AP Photo/ Evan Vucci) the debt limit. Republicans want that longer allowance to avoid having to take another vote on the politically toxic issue before the 2018 congressional elections.

The session painted a vivid portrait of discord at the highest ranks of the Republican Party. After an angry August that Trump spent lobbing attacks at fellow Republicans, specifically

targeting Senate Majority Leader Mitch McConnell for the failure of health care legislation, the president wasted little time once Congress came back this week in demonstrating his disdain for the GOP House and Senate leaders charged with shepherding his agenda into law.

At first, in Wednesday’s Oval Office meeting, the

Republicans lobbied for an 18-month debt ceiling extension, then 12 months and then six, but Trump waved them off. As Mnuchin continued to press an economic argument in favor of a longer term, Trump tired of it and cut him off mid-sentence.

At another point, the meeting totally lost focus when Ivanka Trump entered to raise an unrelated issue

on child care tax credits.

Details of the meeting were disclosed by several people briefed on the proceedings who spoke only on condition of anonymity because they were not authorized to talk publicly.

One photo taken through the window of the Oval Office showed an animated Schumer pointing his finger in Trump’s face as the president smiles with his hands on his fellow New Yorker’s arms.

After the meeting, Trump boarded a plane to North Dakota with Democratic Sen. Heidi Heitkamp in an effort to garner bipartisan support for tax legislation that Republican leaders on Capitol Hill are crafting on a purely partisan basis. That continued the day of bizarre disconnects between the president and the leaders of his party.

Trump called Heitkamp to the stage at his Dakota event

and praised her as a “good woman.” She will be running for re-election against a Republican in November 2018.

Heitkamp later issued a statement saying she needs to know more about Trump tax plan before offering her support. “I know the devil is in the details of any reform plan as tax codes are complex, and we need to know what those details are,” she said.

Aboard Air Force One, Trump told reporters, “We had a very good meeting with Nancy Pelosi and Chuck Schumer.” He didn’t mention Republicans McConnell and House Speaker Paul Ryan, who also had been present. “We agreed to a three-month extension on debt ceiling, which they consider to be sacred, very important.”

“I think the deal will be very good,” Trump added.

RBC Royal Bank (Bahamas) Limited is presently considering applications for: Regional Manager – Special Loans What is the opportunity?

As the Regional Manager Special Loans you will be a source of expertise with respect to managing high risk accounts and will have the ability to provide innovative solutions that will result in creating and retaining survivors, maximizing revenue while minimizing costs.

What will you do?

• Manage complex and/or higher risk accounts through effective relationship and risk management practices.

• Provide solutions and business advice designed to satisfy the bank’s risk requirements while maintaining a consistent focus on retaining long-term RBC Group relationships.

• Develop relationships with service partners, group partners and professional groups to optimize resolution success as well as business opportunities and referrals.

• Emphasize the need to create surviving entities and to the extent possible, retained relationships for RBC. • Maintain a strong and positive presence at all Business Banking Centres where the clients are domiciled, e.g. in person/by phone/ at conferences to promote and leverage opportunities through sharing of progress on the files managed, job aids, learnings and best practices, as appropriate.

• Price business/collect fees, maintaining a balance of risk considerations, portfolio return, and relationship factors.

• Develop strategies and leverage RBC resources to minimize overall costs in the following areas: Loss of principal and/or interest, time spent in non-accrual, time spent in resolution; fees paid to third parties; damage to RBC’s image and reputation; and legal action against bank.

• Take appropriate action to remedy ‘out of order’ collateral security and data integrity errors, as appropriate, including current account authorizations and other banking operation documents.

What do you need to succeed?

Must-have: • University degree in Accounting, Economics or Business or equivalent education/training in a related field.

• At least 5 years progressively responsible banking experience in wholesale and retail lending with at least 2-3 years experience in the area of Collections/Special Loans and receivership experience • Knowledge of all applicable Risk Policies and Guidelines, procedures and practices, etc.

• Strong and proven Risk assessment and analysis skills • Ability to apply critical thinking and ‘out of the box’ approach to problem solving • Knowledge of Audit Techniques • Sound legal knowledge-base • Continuous learning mindset and must be a team player Nice-to-have: • Ability to demonstrate network and interact with senior management and other stakeholders.

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Opportunities to do challenging work • Work in a dynamic and collaborative team • Be Rewarded and Recognized for high performance

If you are interested, please visit our website at: jobs.rbc.com and upload your resume by September 11, 2017.

www.rbcroyalbank.com/caribbean

® / ™ Trademarks of Royal Bank of Canada.

Used under licence.

PAGE 8, Thursday, September 7, 2017

THE TRIBUNE

LEAKED UK DOCUMENTS SHOWS THINKING ON CUTS TO EU IMMIGRATION EMPLOYMENT OPPORTUNITIES Comfort Suites Paradise Island invites qualified persons to apply for the positions of

Shift Manager

Essentials Job Functions: • Liaise with guests and ensure a strong host presence at all times,

passing relevant information onto staff, especially specific requirements

or arrangements.

•

Deal with complaints quickly and efficiently and find suitable solutions to any problems that may arise.

•

Assume responsibility for the running of the Hotel in the absence of senior management.

Position Requirements • High school diploma • Minimum of 3 years experience in the hotel industry • Minimum of 3 years supervisory skills Skills • • • •

Must have the ability to work independently with little or no assistance.

Must have excellent problem solving skills Effective verbal and written communications skills.

Working knowledge of Excel an MS-Word.

Interested persons should submit their resumes to jmcdonald@comfortsuitespi.com no later than September 15, 2017.

Only candidates meeting the criteria will be contacted.

BRITAIN’s Prime Minister Theresa May leaves 10 Downing Street to attend the weekly Prime Ministers’ Questions session, in parliament in London, yesterday. (AP Photo/Frank Augstein)

By GREGORY KATZ Associated Press LONDON (AP) — A leaked document published Wednesday sheds some light on the British government’s plans to cut immigration from the European Union once Brexit has become a reality.

The draft Home Office document published by the Guardian newspaper reveals plans to make it much harder for low-skilled EU workers to settle in Britain. It would also make it tougher for EU workers in Britain to bring in family members to join them.

It emphasizes the need to put British workers first and to judge immigration on whether it benefits society as a whole, not just the migrants.

Many who backed Brexit in the 2016 referendum were motivated by a desire to lower immigration levels.

Prime Minister Theresa May’s government has so far revealed few details about how it plans to cut immigration numbers, so the draft document offers some insight into how the Home Office hopes to deliver on the Brexit promise to “take control” of Britain’s borders.

The prime minister told Parliament Wednesday it is important to keep immigration at a “sustainable” level as she claimed uncontrolled immigration depresses the wages of people at the lower end of the income scale.

May also said immigration has an impact on access to service and access to infrastructure that must be controlled. She insisted

Full Time SaleS Clerk Needed JOB OPPORTUNITY AVAILABLE TOWER MANAGER AND BUY-OUT TOWER MANAGER HOUSEKEEPING DEPARTMENT •

Job Summary: Ensures overall maintenance and cleanliness of villas and all public areas of Harborside Resort.

Main Duties and Responsibilities: • Inspects and evaluates guest’s rooms, also public areas such as restrooms, lounges,

reception center, sales offices and outdoor areas.

• Ensures guest rooms are cleaned and maintained according to the resort standards.

• Monitors supply of all cleaning materials, amenities and linen.

• Ensure monthly linen inventory and control for respective tower.

• Maintains good working knowledge of cleaning supplies and the proper usage, also

mechanical equipment maintenance.

• Inspects all Out-of-Order rooms daily.

• Ensures the cleanliness and maintenance of guests’ rooms, building hallways, stairwells,

elevators and linen rooms to the resort standard.

• Monitors key control procedures.

• Monitors maintenance requests and ensures timely attention.

• Supervises section staff ensuring that departmental policies and procedures are followed.

• Checks e-mail daily and follow through on requests and concerns.

• Reviews and actions daily concerns in log books and HotSOS. • Completes daily discrepancy report.

• Follow-up on all calls from Resort Services to ensure closed in the prescribed time.

• Prints all maid assignment sheets and room status reports.

• Liaison with Front Office on reported late check-out villas.

• Plans, organizes, coordinates and assigns work load.

• Trains, counsel, coaches develops, disciplines and rewards subordinates.

Requirements: • Minimum of three (3) years management experience in the field or experience in

a similar capacity.

• Associate Degree in relevant field.

• Excellent oral and written communication skills.

• Ability to work on own initiative.

• Excellent interpersonal skills.

• Computer skills including, Microsoft Word, Outlook, PowerPoint and Excel.

For consideration please email resumes to:Jacquelyn.gardiner@harborsideresort.com to apply for the position.

Qualifications must Be: 21 Years Or Older Out Going With A Positive Attitude Computer Literate Able To Work Shifts Must Have Proir Sales Experience Kindly Email Your Photo And Resume To Urastar11@Gmail.com

Britain will still “welcome the best and the brightest here to the United Kingdom.”

Nicolas Hatton, a French resident of Britain who leads a group fighting for the rights of EU nationals in the UK, said he was “horrified” that Britain is turning its back on tolerance in favor of solutions that will create problems for hundreds of thousands of people.

The 82-page document, marked “official sensitive,” does not represent finalized government policy and has not been approved by ministers. It has been circulated among senior government officials.

The plans may be changed extensively after discussions with Parliament and with EU officials, who will determine how British citizens living and working in EU countries are treated after Brexit.

According to the paper, potential migrants will be required to register with the Home Office for a residency permit that would last up to two years, with possible longer terms granted for highly skilled workers.

The paper says tightening the legal definition of an extended family is also being considered to reduce the number of relatives being brought in.

GN-1941

Government Notice

THE TRIBUNE

Thursday, September 7, 2017, PAGE 9

TRUMP’S HARSH MESSAGE TO IMMIGRANTS COULD DRAG ON ECONOMY

By CHRISTOPHER RUGABER Associated Press

WASHINGTON (AP) — James Harrison, the owner of a Phoenix-based specialty construction firm, employs three workers protected by an Obama-era immigration program that the Trump administration took steps Tuesday to eliminate .

Should those workers — who were brought to the United States illegally as children — be deported, Harrison doubts he would find other workers to replace them anytime soon.

“These are some of my top guys,” Harrison said.

“They don’t drink, they don’t do drugs, they don’t do anything but work.”

His own grandfather, Harrison said, immigrated to the United States from England without any paperwork.

His on-the-ground viewpoint couldn’t be more different from that of Attorney General Jeff Sessions, who made the questionable assertion Tuesday that the Obama administration’s measure “denied jobs to hundreds of thousands of Americans by allowing

those same jobs to go to illegal aliens.”

Nearly all economists and most business leaders reject Sessions’ view. Ending the program, known as Deferred Action for Childhood Arrivals, or DACA, won’t boost U.S. employment at a time when an aging workforce and a low jobless rate have left many employers struggling to find skilled workers. Eliminating the program might even cost jobs in the long run, they say.

The program allows immigrants who were brought to the United States illegally as children to stay in the United States, attend school and find jobs.

Those who benefit are sometimes called “Dreamers,” after early proposals in Congress that never passed.

President Barack Obama implemented the program in 2012.

The Trump administration said the measure will phase out over six months, giving Congress an opportunity to approve a replacement plan.

More broadly, economists warn that eliminating DACA, along with other steps the Trump

administration has taken, such as banning travel from several Muslim nations and proposing cuts to legal immigration, could inflict long-term damage on the economy. The proposals could discourage potential immigrants, including those with advanced degrees and skills, from entering the United States. Some immigrants already in the U.S. might refrain from starting businesses, analysts say.

“It says to immigrants in the United States that you have no certainty in this country,” said Edward Alden, a senior fellow at the Council on Foreign Relations. “That will have economic impacts that will go well beyond the employment circumstances and prospects of the Dreamers themselves.”

Immigrants are generally more likely to start companies than are native-born Americans, Alden said.

About 40 percent of Silicon Valley companies have had at least one immigrant founder.

Harrison’s company performs sand-blasting work that strips lead paint and mold. He was planning to leave for Houston to take

HOUSE Minority Leader Nancy Pelosi of Calif. accompanied by members of the House and Senate Democrats, gestures during a news conference on Capitol Hill yesterday.

House and Senate Democrats gather to call for Congressional Republicans to stand up to President Trump’s decision to terminate the Deferred Action for Childhood Arrivals (DACA) initiative by bringing the DREAM Act for a vote on the House and Senate Floor. ( AP Photo/ Jose Luis Magana) part in recovery work from Hurricane Harvey.

Last week, Harrison signed a letter , along with about 400 other CEOs, urging the Trump administration to preserve the DACA program. The letter says nearly three-quarters of the top 25 Fortune 500 companies employ some of the roughly 800,000 people protected by the measure.

Microsoft, which says it employs at least 39 beneficiaries of the program, urged Congress to approve legislation that would keep the policy before it takes up tax reform.

Studies have found that the economic damage caused by expelling those protected by the measure would be modest but

noticeable. The libertarian Cato Institute estimated it would cost the U.S. economy $215 billion over 10 years, a small drop given that the nation’s output is roughly $17 trillion every year.

But most economists see immigration generally as an economic boon.

That’s particularly true as the U.S. ages, which means more Americans are retiring. Those retirements have slowed the growth of the U.S. workforce — a trend that, in turn, limits the economy’s potential expansion.

The U.S. economy has expanded at a 2.2 percent annual rate since the Great Recession ended in 2009.

Trump has said he wants to

raise that pace to at least 3 percent.

“If you want to raise the economy’s underlying growth rate, we should be increasing immigration, not reducing it,” said Mark Zandi, chief economist at Moody’s Analytics.

The Cato study notes that beneficiaries of DACA are similar to the highly-skilled immigrants who are granted H-1B visas to work in the United States. The average beneficiary is 22, has a job, and earns about $34,000 a year, Cato says.

Nearly three-fifths reported finding work after the program was implemented, a 2014 survey found, and 45 percent said they received a pay increase.

Bahamas Property Fund Limited

(Incorporated under the laws of the Commonwealth of The Bahamas) Consolidated Statement of Financial Position (Unaudited) As of 30 June 2017 (Expressed in Bahamian dollars) 30 June 2017 $

31 December 2016 $

40,042,000

40,042,000

3,703,714 1,047,054 624,598

3,552,467 1,030,098 370,218

5,375,366

4,952,783

45,417,366

44,994,783

265,108

352,378

265,108

352,378

1,197,181 67,500 11,074,419

1,118,721 11,389,180

12,339,100

12,507,901

Total liabilities

12,604,208

12,860,279

EQUITY Capital – ordinary shares Retained earnings

12,035,000 20,778,158

12,035,000 20,099,504

Total equity

32,813,158

32,134,504

Total liabilities and equity

45,417,366

44,994,783

ASSETS Non-current assets Investment property Current assets Cash at banks Trade receivables Other assets

Total assets LIABILITIES Non-current liabilities Security deposits from tenants

Current liabilities Accrued expenses and other liabilities Unearned rental income Borrowings

Consolidated Statement of Comprehensive Income (Unaudited) For the Six Months Ended 30 June 2017 (Expressed in Bahamian dollars)

INCOME Rental and parking revenue Net fair value loss on investment property

EXPENSES Maintenance cost of vacant rental space Parking maintenance Management fee Business licence fees Professional fees Directors’ fees Other

JOB OPPORTUNITY AVAILABLE LATENIGHT HOUSEMAN HOUSEKEEPING DEPARTMENT

Operating profit Interest income Interest expense and related charges Net income and total comprehensive income

Job Summary: General cleaning of guestroom, hallways and linen rooms to the established standard and expediting guest requests.

Main Duties and Responsibilities: • Provides professional, courteous services to owners/guests, internal and external at all times.

• Signs in and out for master keys, radios and other communication equipments.

• Follows safety procedures when using cleaning agents.

• Cleans stairwells and breezeways daily or as scheduled.

• Cleans and restocks linen closet.

• Cleans and polishes elevators.

• Clears garbage bins in rooms and hallways.

• Assists with moving furniture and appliances in rooms.

• Cleans tops of armoires, refrigerators and high areas in villas.

• Answers radios efficiently and to department standards.

• Cleans fans, vents drop lights and light fixtures.

• Assists with cleaning sliding doors, frames and windows.

• Strips beds.

• Delivers special requests items example roll-a-ways, high chairs and cribs.

• Collects soiled linen from villas.

• Returns all keys and radios at the end of shift.

Requirements: • High School diploma or equivalent vocational training.

• Minimum 1 year experience as hotel cleaner or in janitorial/cleaning position preferred.

• Must be literate and have good communication skills.

• Ability to work in a self motivated environment with little supervision.

• Ability to multitask.

For consideration please email resumes to:Jacquelyn.gardiner@harborsideresort.com to apply for the position.

Weighted average number of ordinary shares outstanding

3 Months Ended 30 June 2017 $

6 Months Ended 30 June 30 June 2017 2016 $ $

892,006 -

1,834,460 -

1,878,382 -

892,006

1,834,460

1,878,382

306,053 71,954 45,522 18,275 5,000 21,326

514,625 146,780 90,212 27,605 29,266 10,000 73,462

684,064 153,101 87,897 46,603 34,150 10,000 67,161

468,130

891,950

1,082,976

423,876

942,510

795,406

(121,433 )

(263,856 )

9,093 (297,285 )

302,443

678,654

507,214

2,407,000

2,407,000

2,407,000

0.13

0.28

0.21

Capital – Ordinary Shares $

Retained Earnings $

Total $

12,035,000

20,099,504

32,134,504

-

678,654

678,654

12,035,000

20,778,158

32,813,158

21,315,847

33,350,847

(1,216,343 )

(1,216,343)

20,099,504

32,134,504

Earnings per share

Consolidated Statement of Changes in Equity (Unaudited) For the Six Months Ended 30 June 2017 (Expressed in Bahamian dollars)

As of 1 January 2017 Total comprehensive income As of 30 June 2017 Dividends per share

-

As of 1 January 2016

12,035,000

Total comprehensive loss

-

As of 31 December 2016

12,035,000

Dividends per share

-

PAGE 10, Thursday, September 7, 2017

THE TRIBUNE

HOUSE OVERWHELMINGLY PASSES $7.9 BILLION HARVEY AID BILL

By ANDREW TAYLOR Associated Press WASHINGTON (AP) — The House on Wednesday overwhelmingly passed $7.9 billion in Hurricane Harvey disaster relief as warring Republicans and Democrats united behind help for victims of that storm as an ever more powerful new

hurricane bore down on Florida.

The 419-3 vote sent the aid package — likely the first of several — to the Senate in hopes of sending the bill to President Donald Trump before dwindling federal disaster reserves run out at the end of this week.

“Help is on the way,” said Texas GOP Rep. John Culberson, whose Houston

district was slammed by the storm. “The scale of the tragedy is unimaginable. But in the midst of all this, and all the suffering, it really reflects the American character, how people from all over the country stepped up to help Houstonians recover from this.”

The first installment in Harvey aid is to handle the immediate emergency

needs and replenish Federal Emergency Management Agency reserves in advance of Hurricane Irma, which is barreling through the Caribbean toward Florida.

“This is a chance to be your brother’s keeper,” said Houston Democratic Rep. Al Green. “This is chance for the unity that we express when we’re before the cameras to manifest itself in the votes that we cast here in Congress.”

Far more money will be needed once more complete estimates are in this

fall, and Harvey could end up exceeding the $110 billion government cost of Hurricane Katrina.

“My friends and neighbors’ homes were completely flattened by Hurricane Harvey’s winds.

Businesses were destroyed,” said Rep. Blake Farenthold, R-Texas. “FEMA will be out of money in just two or three days if we don’t pass this.”

The funding is set to be attached to a short-term increase in the government’s borrowing cap and

a temporary governmentwide funding bill under an agreement between Trump and top Capitol Hill Democrats.

That move also would free up about $7 billion in additional FEMA funds that will be brought forward from the 2018 budget.

Some Democrats from the New York delegation reminded Texas Republicans that they opposed a larger aid bill for those harmed by Superstorm Sandy in the Northeast five years ago.

A WORKER walks past a pile of debris outside a business damaged by floodwaters in the aftermath of Hurricane Harvey in Spring, Texas. With federal disaster reserves running out, the House is swiftly moving to pass President Donald Trump’s request for a $7.9 billion first installment of relief for victims of Harvey. GOP leaders also hope to use the urgent Harvey aid bill to solve a far more vexing issue: Increasing the U.S. debt limit to permit the government to borrow freely again to cover its bills. (AP Photo/David J. Phillip)

VA C A N C Y

SOUS CHEF A fantastic opportunity has arisen to become part of our team. We are looking for an individual that not only demonstrates the skills listed below, but also has the ability to apply individual leadership and decision making to ensure our goals are achieved.

As our Sous Chef you will be required to meet the following requirements: • Manage the day-to-day operation of the kitchen.

• Assist with menu development and food cost.

• Roster staff to control labour cost.

• Ensure excellent Food Hygiene and Health & Safety standards at all times.

• Lead a team of experienced cooks, motivating and coaching the staff to support their personal development.

• Assist with the anticipation of trends, enacting approved

profit-oriented and cost saving ideas/activities.

Position Requirements: • A minimum of three (3) years of culinary and supervisory

experience required.

• An associate’s degree from a Culinary School of Arts or an equivalent is required.

Competitive salary and benefits package are commensurate with experience.

Interested persons should submit their resumes via e-mail to souschef2017@outlook.com

PAGE 12, Thursday, September 7, 2017

FACEBOOK: ACCOUNTS FROM RUSSIA BOUGHT ADS DURING US CAMPAIGN WASHINGTON (AP) — Facebook says it has identified nearly 500 fake accounts, probably run from Russia, that it says spent about $100,000 on ads that amplified politically divisive issues during the 2016 U.S. presidential campaign.

Facebook Chief Security Officer Alex Stamos says in a statement Wednesday the company discovered the accounts during a review of ad buys. That review was spurred by a broader investigation into Russian interference in the election.

Stamos says the 470 fake accounts and pages didn’t specifically reference the election, a candidate or voting. But he says the 3,000 ads promoted political messages on a range of issues from gun rights to race issues.

The ads were purchased between June 2015 and May 2017.

Facebook says it shared its findings with federal authorities.

THE TRIBUNE

ENERGY COMPANIES LEAD MODEST REBOUND FOR US STOCK MARKET

By ALEX VEIGA Associated Press ENERGY companies led U.S. stocks to modest gains Wednesday as the market recouped some of its hefty losses from the day before.

Big retailers and health care companies also helped lift the market, which was coming off its worst day in almost three weeks. Utilities and phone companies were the biggest laggards.

Some travel booking companies and airlines also fell.

“It’s a little bit of a rebound from the sort of dramatic day yesterday after everybody got back from the long holiday weekend at the end of the summer and refocused on the market,” said Lindsey Bell, investment strategist at CFRA Research. “We’ve seen that through the past year, any time we’ve had some sort of dip, it’s a buying opportunity for investors.”

The Standard & Poor’s 500 index rose 7.69 points, or 0.3 percent, to 2,465.54.

The Dow Jones industrial average added 54.33 points, or 0.3 percent, to 21,807.64. The Nasdaq composite gained 17.74 points, or 0.3 percent, to 6,393.31.

The Russell 2000 index of smaller-company stocks picked up 2 points, or 0.2 percent, to 1,402.20.

FEDERAL Hall’s George Washington statue stands near the flag-covered pillars of the New York Stock Exchange. U.S. stocks edged higher in early trading yesterday, recouping some of the market’s losses from a day earlier. Banks and energy companies were driving the gains. Airlines, cruise ship operators and travel booking companies were down amid concerns that Hurricane Irma could strike the United States later this week. (AP Photo/ Bebeto Matthews, File)

The stock indexes are on pace to end the week lower, but are holding on to gains for the year. The S&P 500 and Dow are both up just over 10 percent. The Nasdaq is up 18.8 percent, while the Russell 2000 has gained 3.3 percent.

The market veered higher from the start of regular trading Wednesday and held its course through much of the day. News that President Donald Trump has agreed to a plan to fund the government and increase

the nation’s debt limit for three months helped lift the market.

“It reassured the market that Washington is on board with stabilizing its financial responsibilities,” Bell said.

Tuesday’s market jitters over the heated rhetoric between the U.S. and North Korea appeared to ease somewhat on Wednesday, even as investors monitored Hurricane Irma. The mammoth storm, which made its first landfall in the islands of the northeast Caribbean

LEGAL NOTICE BALNA WEALTH MANAGEMENT LTD. (In Voluntary Liquidation) Notice is hereby given in pursuance of Section 138 of The International Business Companies Act, 2000 (as amended) that the Shareholder of the above-named company by Resolution passed on the 5th day of September 2017 resolved that the company be wound up voluntarily forthwith and that the Liquidator is Mr. Bennet R. Atkinson of Ronald Atkinson & Co., Chartered Accountants, Marron House, Virginia and Augusta Streets, P.O. Box N-8326, Nassau, Bahamas.

All persons having claims against the above-named company are requested to submit particulars of such claims and proofs thereof in writing to the Liquidator, Mr. Bennet R. Atkinson, Marron House, Virginia and Augusta Streets, P.O. Box N-8326, Nassau, Bahamas, not later than the 5th day of October 2017, after which date the books will be closed and the assets of the company distributed.

NOTICE

Dated the 5th day of September 2017.

NOTICE is hereby given that TOMICO FRANCOIS of

Devaughn Drive, Bamboo Town, New Providence Bahamas is applying to the Minister responsible for

Bennet R. Atkinson Liquidator

MARKET REPORT WEDNESDAY, 6 SEPTEMBER 2017

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

BISX ALL SHARE INDEX: CLOSE 1,862.24 | CHG 0.03 | %CHG 0.00 | YTD -75.97 | YTD% -3.92 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 19.17 9.09 3.70 2.41 0.13 6.47 8.60 6.30 10.60 14.49 2.52 1.60 6.00 10.00 11.00 10.25 7.25 12.51 11.00

52WK LOW 4.05 17.43 8.19 3.50 1.39 0.12 3.80 8.40 5.83 9.46 10.00 2.18 1.50 5.80 8.75 7.01 8.17 6.60 11.93 10.00

1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 106.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 105.00 100.00 100.00 10.00 1.01

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00

52WK LOW 100.00 100.00 100.00

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

SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +

SYMBOL FBB17 FBB18 FBB22

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

BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

MUTUAL FUNDS 52WK HI 2.07 3.95 1.96 170.77 146.34 1.50 1.67 1.58 1.10 6.99 8.54 6.15 10.52 11.46 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.44 1.63 1.55 1.04 6.41 7.62 5.66 8.65 10.54 9.57

LAST CLOSE 4.28 17.43 9.09 3.70 1.39 0.13 3.92 8.60 6.10 10.47 10.01 2.40 1.55 6.00 9.75 7.08 10.25 7.01 12.50 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 108.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.28 17.43 9.09 3.70 1.39 0.13 3.92 8.60 6.10 10.47 10.01 2.40 1.55 6.00 9.75 7.08 10.25 7.01 12.50 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.01

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

CLOSE 100.00 100.00 100.00

CHANGE 0.00 0.00 0.00

109.37 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund

VOLUME

2,000

VOLUME

NAV 2.07 3.95 1.96 174.30 146.25 1.50 1.63 1.58 1.08 6.92 8.03 6.15 10.52 11.46 10.01

EPS$ 0.467 0.932 -0.230 0.540 -0.340 0.000 -0.857 0.574 0.681 0.540 0.559 0.102 0.455 1.212 0.768 0.575 0.929 -0.602 0.697 0.000

DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.000 0.300 0.220 0.360 0.570 0.060 0.060 0.290 0.450 0.000 0.340 0.140 0.620 0.000

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

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

P/E 9.2 18.7 N/M 6.9 N/M N/M -4.6 15.0 9.0 19.4 17.9 23.5 3.4 5.0 12.7 12.3 11.0 -11.6 17.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 1.87% 5.74% 0.00% 5.68% 0.00% 0.00% 0.00% 3.49% 3.61% 3.44% 5.69% 2.50% 3.87% 4.83% 4.62% 0.00% 3.32% 2.00% 4.96% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

INTEREST 7.00% 6.00% Prime + 1.75%

MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022

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

20-Nov-2029 15-Dec-2017 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD% 12 MTH% 2.34% 4.55% 0.90% 1.64% 1.21% 2.55% 3.48% 4.01% 3.17% 7.00% 2.15% 4.22% -1.93% -1.89% 0.81% 2.21% 2.28% 1.30% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69%

NAV Date 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 30-Jun-2017 31-May-2017 30-May-2017 30-May-2017 30-May-2017 30-May-2017 30-May-2017

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

early Wednesday, seemed almost certain to hit the United States by early next week.

A day after spiking more than 20 percent, the VIX, a measure of how much volatility investors expect in stocks, fell nearly 5 percent on Wednesday. And bond yields, which fell sharply a day earlier, rebounded modestly. The yield on the 10-year Treasury note rose to 2.10 percent from 2.06 percent late Tuesday.

Gold, which climbed Tuesday to the highest level in more than a year, fell $5.50 to $1,339 an ounce Wednesday.

Rising oil prices helped boost energy stocks. Helmerich & Payne rose $2.58, or 5.9 percent, to $46.35. Marathon Oil added 44 cents, or 3.9 percent, to $11.73.

All told, benchmark U.S. crude gained 50 cents, or 1 percent, to settle at $49.16 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 82 cents, or 1.5 percent, to $54.20 a barrel in London.

Investors also bid up shares in several big retailers.

Gap shares surged 7.4 percent after the apparel retailer said it will shift its focus to its growing brands Old Navy and Athleta, and away from the Gap and Banana Republic. The company said that it will close about 200 Gap and Banana Republic stores in the next three years and open about 270 Old Navy and Athleta stores during the same period. The stock added $1.79 to $25.82. Macy’s shares also got a boost, adding $1.16, or 5.5 percent, to $22.17.

Kohl’s climbed 4.9 percent after the department store chain said it will open Amazon shops in 10 of its stores. Kohl’s shares gained $1.98 to $42.37.

The fallout from Hurricane Harvey, which slammed the Gulf Coast of Texas last month, forced Newell Brands to cut its profit forecast, sending its shares lower Wednesday.

The consumer products maker noted that almost all of its resin suppliers with facilities in Texas and Louisiana shut down after that storm hit. Newell’s shares gave up $1.69, or 3.5 percent, to $47.03.

United Continental slid 1.3 percent after the airline cut its third-quarter outlook, citing increased fuel costs due to Harvey. The stock fell 77 cents to $60.33.

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

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 31st day of August, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

THE TRIBUNE

Thursday, September 7, 2017, PAGE 13

EXCITING AND CHALLENGING OPPORTUNITY FOR YOUNG BAHAMIANS

Can you imagine a career which will take you to the world’s most fascinating ports and far flung destinations?

A Maritime career could take you there.

Do you have 5 BGCSE passes, including Math, Physics or Chemistry, and English Language at Grade ‘C’ or above?

Have you obtained a combined SAT score of at least 1500?

Are you physically fit?

Are you between the age of 16 and 20 years?

If you have answered YES to the above questions, then please read on.

INSURANCE Commissioner of Pennsylvania Theresa Miller, right, together with state insurance commissioners from left, Tennessee Department of Commerce and Insurance Commissioner Julie Mix McPeak, Washington State Insurance Commissioner Mike Kreidler; and Alaska Division of Insurance Director Lori Wing-Heier, testifies during a Senate Health, Education, Labor, and Pensions Committee hearing on the individual health insurance market for 2018 on Capitol Hill yesterday.

(AP Photo/Manuel Balce Ceneta)

GOP, Dem senators calmly discuss bolstering Obama health law

By ALAN FRAM Associated Press WASHINGTON (AP) — Republicans and Democrats serenely discussed ways to curb premium increases for individual insurance policies on Wednesday at a Senate hearing that veered away from years of fierce partisanship over the failed GOP effort to revoke President Barack Obama’s health care law.

Senators and state insurance commissioners from both parties embraced the idea of continuing billions in federal subsidies to insurers for reducing out-of-pocket expenses for millions of people, flouting President Donald Trump’s oft-repeated threats to halt those payments. There were even bipartisan words of support for proposals to provide money to states to help insurance companies afford to cover customers

with serious, costly medical conditions.

Disagreements remain, including over Republican demands to also make it easier for insurers to sell policies that might offer skimpier coverage than Obama’s statute allows.

But if nothing else, the Senate health committee hearing underscored both sides’ willingness to try casting aside hostility from the GOP drive to repeal Obama’s 2010 law and seek a modest pact that would instead bolster that statute by protecting the affordability of constituents’ coverage.

“I think we did a pretty good job today of not blaming each other,” panel Chairman Lamar Alexander, R-Tenn., said afterward.

The harmony came at the first of four health committee hearings on how to shore up the individual

insurance marketplace, where about 18 million people buy policies who don’t get coverage at work or from the government.

Insurance commissioners from five states testified Wednesday, and five governors were slated to appear Thursday.

Alexander said he wants to produce a bipartisan bill by the end of next week.

By late September, insurers must decide whether to sell policies in the government’s Healthcare.gov online exchanges in 2018.

Alexander and top panel Democrat Patty Murray of Washington state hope to produce a bill before that deadline to ease companies’ anxieties.

“Threading this needle won’t be easy,” Murray said during the hearing.

She later told reporters she was “very hopeful” the two sides could reach agreement on a measure.

The Bahamas Maritime Authority is once again offering a scholarship to a young Bahamian, who is keen to train for an exciting and challenging career in the Maritime Industry.

The scholarship is inclusive of tuition, course materials, accommodation and travel. Commencing September 2018, the successful candidate will follow a 4-year degree programme at the State University New York Maritime College, New York, USA. Upon completion of the degree, the qualified officer will be expected to serve on board a Bahamian flagged vessel for at least 2 years.

Further information and application forms can be obtained from: Mrs. Katie Clarke, Assistant Director, Bahamas Maritime Authority, Shirlaw House, #226 Shirley Street, P. O. Box N-4679, Nassau, Bahamas; Website: www.bahamasmaritime.com OR Email: scholarship@bahamasmaritime.com Tel: +1-(242)-356-5772 Fax: +1-(242)-356-5889 Completed applications must be submitted in person or by post, with copies of academic certificates/transcripts and proof of Bahamian citizenship, no later than Friday, 29th September 2017. Qualified applicants will be contacted for interviews.