09192017 business

business@tribunemedia.net

TUESDAY, SEPTEMBER 19, 2017

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Financial sector needs ‘urgent quantum leap’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BRIAN MOREE QC

THE Bahamas’ poor financial centre ranking is “clearly unacceptable”, a leading QC yesterday warning this nation does “not have the luxury” of a fiveyear fix.

Brian Moree QC, senior partner at McKinney, Bancroft & Hughes, told Tribune Business that the Bahamas needed to make

“a quantum leap” in the Global Financial Centres Index (GFCI) to preserve its financial services industry’s competitiveness.

The Index, which is published every six months by Z/YEN, placed the Bahamas firmly in the bottom tier at 81st of 92 financial centres, and Mr Moree said “urgent” action was required to prevent financial business “going elsewhere”.

See PG B2

QC: Bottom tier financial centre ranking ‘unacceptable’ Warns Bahamas ‘doesn’t have luxury’ of five-year fix Otherwise business will be ‘going elsewhere’

‘ONE LAW FOR ALL’ CALL ON TOP QC: REGULATORY REGIME BPL NO DISCONNECT LIST ‘WEIGHTED AGAINST BUSINESS’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE existence of a Bahamas Power & Light (BPL) ‘do not disconnect’ list threatens to undermine accountability and the concept of “one law for all”, a governance reformer warned yesterday.

Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that allowing members of the political elite to escape paying their energy bills set a poor leadership example and would encourage others to follow suit.

Emphasising that he and ORG were delighted to see BPL moving to “get it cleaned up”, Mr Myers said: “We’re happy to see Minister Bannister and BPL dealing with the issue, as opposed to sweeping it under the rug.

“It’s just another indication that we seem to be heading in the right direction as opposed to the wrong direction. It doesn’t show any accountability at all. If we’re not going to have accountability at the top, how do we expect to get any in the Ministries or civil service, period?

They’ve [politicians] got to lead by example.”

The Tribune reported yesterday how BPL has given politicians and senior officials just seven days to pay what Desmond Bannister, minister of works, described as “outrageous” outstanding bills as high as $50,000.

Governance reformer: Accountability hit Urges political leadership to set example Delighted utility ‘not sweeping under rug’

ROBERT MYERS Many Bahamians, especially the 5,000 customers said to be disconnected by BPL at any one time, are likely to be furious at the ‘double standards’ exposed by the revelations.

While they can be cut-off

by BPL for owing as little as $200, members of the political elite - and their relatives, cronies and political supporters - have been allowed to rack up much higher debts, and over long periods of time, without consequence.

See PG B2

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas’ regulatory regime is “heavily weighted against business”, a prominent QC yesterday warning: “We can’t tax our way out of economic problems.”

Brian Moree QC, senior partner at McKinney, Bancroft & Hughes, told Tribune Business that the Bahamas needed to “urgently address” an overly-bureaucratic approvals regime to maintain its economic competitiveness.

He warned that this nation’s ease and cost of doing business was impeding both the domestic and international economic segments, especially foreign direct investment (FDI) and the financial services industry, resulting in the anemic GDP growth levels experienced since 2012.

Warns: ‘We can’t tax, borrow our way out’ Bahamas needs to ‘urgently’ end red tape Better ‘balance’ required for GDP growth “We need to urgently address what has become a highly bureaucratic infrastructure for doing business in the Bahamas, both domestically and internationally,” Mr Moree told Tribune Business.

“I think one of the most important factors and problems we have to address is our low ranking in the [World Bank’s] See PG B4

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BAHAMAS URGED: ‘MAKE THE CASE’ FOR EXTRA AIRLIFT

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas must be “savvy” and “make the case” for extra post-Irma airlift that could fill the new capacity created by Baha Mar, the Minister of Tourism revealed yesterday.

Dionisio D’Aguilar told Tribune Business that the airline industry had approached the Bahamas in the hurricane’s wake to see if this nation could absorb some of the airlift capacity lost elsewhere in the Caribbean.

With destinations such as the Leeward Islands, and British and US Virgin Islands, unable to take stopover tourists as they recover from Irma’s devastation, Mr D’Aguilar said “opportunities are presenting themselves” to the Bahamas.

Emphasising that this nation did not want to See PG B4

Airlines seek out nation on postIrma capacity Minister: Must be ‘savvy’, ‘ramp up’ marketing Excess supply could fill Baha Mar demand

DIONISIO D’AGUILAR

Moody’s: Irma damage to ‘test Bahamas ability’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net MOODY’S has warned that Hurricane Irma will “test the ability” of the Bahamas and other impacted nations to repair the damage and service debt over the next six to 12 months.

The credit rating agency, in a report on the storm’s consequences for Caribbean sovereign creditworthiness, delivered another timely reminder of

Expresses concern on damage, debt service Predicts GDP growth under 1% via Freeport how such events can throw the Government’s fiscal consolidation plan off-track as Hurricane Maria looms.

Moody’s, which heldoff on downgrading the See PG B3

PAGE 2, Tuesday, September 19, 2017

THE TRIBUNE

LAW FIRM RECEIVES TOP PRIVATE WEALTH RATING HIGGS & Johnson’s private wealth practice has received a top ranking from a global legal services directory.

The law firm has been placed in Band 1 by Chambers High Net Worth (HNW) 2017 Guide, which is published by Chambers and Partners.

Its private wealth attorneys, Philip Dunkley QC; Earl Cash; and Heather Thompson are also recognised as leaders in the trust sector by the publication.

Higgs & Johnson has been top ranked in the sister publication, Chambers Global (General Business Law and Dispute Resolution), since the publication

started covering the Bahamas in 2003.

Chambers and Partners cited international private wealth market insiders and clients, who described the firm as “first-class”, “very strong”, and “very highly regarded”.

The publication highlighted the firm’s top quality advisory work for trust companies, particularly when it came to the administration and creation of complex private trusts for high net worth individuals and businesses.

Mr Dunkley, who Chambers and Partners ranked in Band 1, was described as “a leading litigator on trusts”.

Dr Earl Cash, chair of

‘One law for all’ call on BPL no disconnect list From pg B1 Many observers are likely to regard the situation as further evidence of members of the political class living off the backs of the Bahamian people, given that both businesses and households are effectively having to subsidise the ‘free’ electricity being granted to them.

The situation has also exacerbated BPL’s long-standing accounts receivables problem, which it has inherited from its Bahamas Electricity Corporation (BEC) parent. BEC’s 2014 accounts, obtained by Tribune Business last year, revealed that the energy monopoly was owed a net $82.379 million by the private sector, and $37.357 million by government entities.

That represented almost $120 million in receivables owed to BEC, a situation unlikely to have improved much over the past three years. The Corporation

had also taken a $96.324 million provision for private sector debts it was unlikely to recover, and had been ‘netting off’ what the Government owes against unpaid taxes due on its fuel imports.

One source, speaking on condition of anonymity, told Tribune Business yesterday that BPL’s ‘do not disconnect’ list included the likes of schools; government ministries, departments and agencies; and churches as well as individual politicians and senior officials.

They added that the sum owed amounted to “millions of dollars”, and warned: “It’s going to be a backlash.

There’s a lot of institutions on that list; schools and government buildings. No one’s been paying their bills for quite some time.

“What happens when the kids go to school, and there are no lights because it’s been disconnected? It may not be the political win that Minnis had in mind.”

Higgs & Johnson’s private client and wealth management group, and Heather L. Thompson, private client consultant, were both placed in Band 2.

Fellow Higgs & Johnson attorney, Stephen Melvin, has also been recognised by legal directory, Who’s Who Legal - Private Client.

He has significant experience in foreign direct investment, working with developers and private high net worth clients on the sale and acquisition of hotels, marinas, mixed-use resort developments, private islands and cays, private homes and condominium residences.

Mr Myers, meanwhile, told Tribune Business that there needed to be “one law for all” as opposed to ‘special treatment’ for persons with the right connections.

“All Cabinet Ministers and people that hold office in any of these ministries, we’ve all got to meet our obligations otherwise you start to erode levels of accountability,” he warned.

‘If the top is doing it, the bottom will, too.”

Mr Myers said a similar situation had arisen at Bank of the Bahamas, the troubled Government-owned bank, where politically exposed persons (PEPs) being allowed to get away without paying their loans had been a key factor in the institution’s near-collapse.

“Everyone has got to live within their means,” he added. “BPL saying it’s given them seven days’ notice; I think the message is clear. BPL is no longer going to extend that kind of courtesy, which is a good thing.

“There’s one law for all, or there’s no law. That should be the way they deal with it.”

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.

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.

PHILIP C DUNKLEY

HEATHER L THOMPSON

DR EARL A CASH

STEPHEN J MELVIN

Financial sector needs ‘urgent quantum leap’ From pg B1 Acknowledging that the Bahamas’ ranking may result “more from perception rather than reality”, the senior attorney nevertheless said the Bahamas could not wait five to six years to achieve “significant improvement” in the GFCI Index.

He added that the structural obstacles impacting the financial services industry’s growth were the same as, or closely connected to, the issues impacting the domestic Bahamian economy, especially the ease and cost of doing business (see other article on Page 1B).

While the Bahamas improved by two places in the latest CFCI rankings, Mr Moree said 81st spot paled into comparison to rival Caribbean international financial centres (IFCs), which were all placed in the top 40.

“Any improvement in the ranking of the Bahamas in the Global Financial Centres Index is obviously a positive development, and

consequently is commendable,” the senior QC told Tribune Business.

“But having said that, it’s clearly unacceptable for the Bahamas to be ranked 81st among 92 financial centres, thereby putting us in the lower tier of international rankings.

“That has to be addressed if we are going to expand and develop our financial services business in what is a very sophisticated market that is intensely competitive.”

Mr Moree’s reaction to the GFCI ranking contrasts with that of the Bahamas Financial Services Board (BFSB), which last week touted the two-spot ranking improvement and the Index’s description of this nation enjoying a “strong rise”.

Tanya McCartney, the BFSB’s chief executive, while praising the improved ranking, agreed that the Bahamas needed to improve its competitiveness in areas such as Immigration policy, tax structure and ‘ease of doing business’.

Mr Moree, though, urged the Government and private sector to collaborate for improvements in the five areas where the GFCI rates financial centres - human capital; infrastructure, financial sector development; reputation; and business environment.

Conceding that issues demanding the Minnis administration’s immediate attention had only increased in Hurricane Irma’s aftermath, he argued that the Bahamas’ ‘economic pillar’ deserved such focus given its importance to the economy and wider society.

“While in the Bahamas we think we have an established and highly professional cadre of service providers, the international community seems to rank us fairly low in the index,” Mr Moree said, “and both the Government and private sector working in collaboration with one another have to look at the five criteria and see where it is we have to make adjustments in order to address these concerns.”

Despite its own improvement, the Bahamas remains some way behind rivals such as Bermuda, the Cayman Islands and British Virgin Islands (BVI). Bermuda and the BVI, in particular, improved by five and 14 places, respectively, in the in the GFCI Index rankings to 29th and 37th. Cayman held its spot at 31st.

“Clearly there is work to be done here if we are going to provide the kind of environment necessary to expand our core business,” Mr Moree told Tribune Business. “We don’t have the luxury of doing this within the next three to four years.

“Both private and public sectors have to take some responsibility for addressing these issues together.

The most recent ranking by the Global Financial Centre Index is a wake-up call for us to bring the level of urgency with which we have to approach this issue so we can see a significant improvement in this ranking within the next six months.”

Mr Moree continued: “As a jurisdiction we cannot afford to incrementally improve our ranking by a few spots every six months.

We don’t have the luxury of time. We have to find ways to have a quantum leap in the rankings by addressing our weaknesses in a very efficient way.

“We cannot do that overnight, but we can’t wait to achieve that in the next five to six years, as business will go elsewhere. It requires focused, substantial attention bearing in mind the urgency of the matter.”

The prominent QC urged the Government and private sector to recognise the importance of “protecting the second largest industry in the Bahamas”, and added: “We have a very solid foundation to build on, and this may be more perception than reality.

“But, as is often said, perception is reality for those who take that view.

We need to look at our cost base; look at our technical plant in the Bahamas; and look at Immigration policy as a development tool consistent with the growth and development of the industry, understanding the reasonable aspirations of Bahamian professionals.”

THE TRIBUNE

Tuesday, September 19, 2017, PAGE 3

BAHAMAS MUST HANDLE ARBITRATION LOCALLY FIRST

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

THE Bahamas must show it can effectively perform Alternative Dispute Resolution (ADR) at the domestic level if it wants to be recognised as an international arbitration centre, an attorney said yesterday.

Caryl Lashley, founder of Alternative Dispute Resolution (ADR) Bahamas, said there needed to first be increased public awareness of ADR’s benefits. She acknowledged that there has been a “substantial” level of interest,

and increased understanding, of alternative dispute resolution.

“In terms of public awareness it continues to grow, because literally on a monthly basis someone says: ‘I have never heard about mediatio’, or ‘I didn’t know I could get my matter mediated or it could apply to me’,” Mrs Lashley said.

“In terms of public awareness we have seen a substantial amount of interest and increased understanding. What I think has to happen is there has to be more of that, and more clarity in terms of how it can really affect people.”

Mrs Lashley continued: “Until that happens you won’t see a huge surge of people going to mediation and arbitration. The people who have gone that route have been surprised that it worked. The scepticism for new things is still there, but when people try it and recognise that their matter has been in the courts for the past four or five years, and they could get it resolved from a different process, it’s an eye opener.”

ADR Bahamas is set to host seminars, in Freeport on September 21 and Nassau on September 22, on the topic of: ‘International

Arbitration Agreements: Let’s be Practical’.

As to awareness about ADR, Mrs Lashley said: “I think those things take time quite frankly. I didn’t have any expectation that it would be an overnight phenomenon.

“We need to demonstrate that we have the ability on a domestic level first. If we can’t do this domestically we definitely aren’t going to be able to do it internationally.”

She added that alternative dispute mechanisms provide a speedier process outside of the court system, can help reduce the backlog of cases, and are less costly.

Bimini businesses face ATM, energy disruption

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net BIMINI businesses were yesterday said to be eager to “get back up and running” in the aftermath of Hurricane Irma, despite continued electricity supply and ATM service disruption.

Edward Reckley, the Bimini Chamber of Commerce president, and Under the Sun Water Sports owner, told Tribune Business: “The concern that we have right now is ensuring that we get everything back up and running.

“Resorts World and Bimini Big Game are closed.

Resorts World’s dock sustained some damage, and getting it back up and running is going to take a little more time.” Resorts World suggested last week that it was tentatively targeting a September 27 re-opening.

“Bimini Big Game is also closed,”Mr Reckley said.

“Basically, our visitors come from Florida, which was impacted, and so there is concern there.

“We are hoping to get electricity fully restored and get everything back in operation. With electricity being in and out, the ATM was also affected, so persons had

Moody’s: Irma damage to ‘test Bahamas ability’ From pg B1 Bahamas’ to ‘junk’ status last month, was also far more ‘bearish’ on this nation’s 2017 economic growth prospects, suggesting GDP would expand by less than 1 per cent compared to the International Monetary Fund’s (IMF) 1.75 per cent projection.

It based this on the Grand Lucayan’s closure and subsequent impact on economic activity and jobs in Freeport.

“The magnitude of the storm will test the ability of these Caribbean and North Atlantic nations to restore the damage and service their debt in the next six to 12 months,” Moody’s said in a recent research report.

“Among our rated issuers, Sint Maarten, Cuba, Dominican Republic and the Bahamas will be most affected.”

The Bahamas was least impacted, as Irma spared its major population and economic centres a direct hit.

While the storm devastated Ragged Island and other islands in the south-eastern Bahamas, the Government has already said it will not have to undertake any emergency borrowing to effect repairs.

But, recalling the Bahamas’ vulnerability to major storms, Moody’s said: “The Bahamas’ fiscal and growth performance was negatively affected by Hurricanes Joaquin in 2015 and Matthew in 2016, with damages estimated at $800 million (9 per cent of GDP) and the latter being the most severe one.

“We estimate that the economy contracted in 2016 for a third consecutive year due to the damages and a weak tourism sector performance. Damages caused to

difficulty getting cash. We just want to get everything back up and running. It’s a community here; everyone works together in a lot of ways. The main concern is electricity, and BPL is doing an excellent job trying to restore power, which has affected the telephone services as well.”

Roderick Simms, chair of the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) Family Island division, who conducted an initial assessment on Bimini and Grand Bahama over the weekend, told Tribune Business: “Currently, with Resorts World and the Bimini Big tourism infrastructure on Grand Bahama island last year will act as a drag on economic growth in 2017, which we estimate will come in under 1 per cent.”

Turning to the state of the Government’s finances, Moody’s reminded: “On the fiscal side, Hurricane Matthew led to a loss in government revenue – due to lower economic activity and tax exemptions for reconstruction efforts – and additional current and capital spending.

“This contributed to a deterioration of the fiscal deficit in 2016-2017, in addition to election-related overspending, to an estimated 7 per cent of GDP deficit from a budgeted 1.1 per cent of GDP deficit.

This, in turn, led to a continued worsening in the Government’s debt metrics. We estimate that, as of June, the debt-to-GDP ratio was approximately 79 per cent from 67 per cent in 2015-2016.”

Game Resort being closed there is a shortage of rooms on the island if tourists would like to visit.

“Considerable damage was done to Resorts World’s dock, and Big Game received some damage also.

In addition to those two operations there were small businesses which had damages, such as flooding to loss of inventory and refrigeration equipment. One of the issues now is the bank [Bank of the Bahamas] is trying to bring up its operations, and the ATM is down and it’s difficult to get cash.”

An offshore bank is looking for a

Compliance Officer/MLRO The Compliance Officer and MLRO will report to the Group Compliance Officer at parent company and Board of Directors of the Bank. The individual will have oversight and responsibility for all compliance-related matters in the Bank.

Education and Experience Requirements • Bachelor Degree in Accounting, Business or Finance, Law or equivalent work or legal experience • At least seven years of relevant compliance or similar experience such as internal and external audits • Certified member of ICA (International Compliance Association) or related internationally recognized compliance body such as ACAMS

(Association of Certified Anti-Money Laundering Specialists) • Highly motivated self-starter, good team player • Excellent verbal and written communication skills and organization skills and strong compliance sense • Minimum five years’ solid experience in financial services with good understanding of business and operational processes • Strong regulatory/compliance knowledge and skills Responsibilities include but are not limited to; • Primarily responsible for the direction and execution of the Compliance

Program • Support and perform customer identification and verification procedures for new customers and participate in the ongoing review of existing customers to ensure adherence to AML and regulatory

requirements.

• Support and partner with the Group Compliance Officer in the development of strategic compliance planning and development of

effective internal controls intended to mitigate the Bank’s compliance risks • Review and update internal compliance policies and procedures to

ensure that they are clearly written, comprehensive, provide sufficient

controls, and are in compliance with applicable regulations.

• Identify key compliance weaknesses; develop recommendations for improving weaknesses and improving operations • Develop and execute periodic comprehensive monitoring, testing and risk assessment protocols • Manage and coordinate examination and audit process with regulators and external examiners • Address test/risk assessment findings to assure implementation of agreed remediation measures.

• Develop and present summaries and status reports of quarterly

activities to senior management, the Compliance Committee and of the Board of Directors • Perform special projects, reviews and other duties as assigned by Senior Management and the Board of Directors Anti-Money Laundering • Drafting and implementing internal policies and procedures to combat money laundering and terrorist financing • Advising Senior Management on the design and implementation of

comprehensive AML Programs (i.e., organizational structure, policies

and procedures, risk assessment, technology resources, management

information systems, etc.).

• Conducting anti-money laundering investigation and filing suspicious

transaction reports with the Local Financial Intelligence Unit (FIU) • Organizing/conducting structured training for all staff (in particular

those with client related activities) in understanding the issues which

concern client based activities, identifying & reporting suspicious transactions - ensuring all staff are well informed of Bank policies and

the procedures which affect them, • Reviewing all alerts and ensuring appropriate follow up through internal investigation when necessary.

• Participate in various internal and external committees/organizations

as may be required.

Interested persons should submit their curriculum vitae along with a cover letter by 20th September, 2017 addressed to:

Private & Confidential Human Resources re: Compliance Officer/MLRO c/o The Tribune Box DA #121289 P.O.Box N-3207 Nassau, Bahamas

PAGE 4, Tuesday, September 19, 2017

THE TRIBUNE

Top QC: Regulatory regime ‘weighted against business’ From pg B1 ease of doing business report. We’re a small country, and ought to be able to minimise bureaucratic, regulatory and other administrative delays while, at the same time, maintaining the reputation of the country to ensure we are a fully compliant, responsible international financial centre (IFC).”

Mr Moree continued: “There’s a balance that has to be achieved here, but regrettably there has evolved a highly bureaucratic and regulated environment which is

weighted very much against business at the moment.

“We have to rationalise our business environment, both locally and internationally, to see what developments have occurred over the last seven to nine years, and achieve a better balance between legislative, regulatory and compliance issues without creating significant obstacles for business, which drive the international community to more friendly jurisdictions than ourselves.”

The senior QC acknowledged that the Minnis administration was “acutely

Bahamas urged: ‘Make the case’ for extra airlift From pg B1 benefit from others’ misfortune, and mindful that Hurricane Maria looms as a potential threat to the Bahamas, the Minister said this nation was in a position to benefit other destinations by “keeping the lift in the Caribbean”.

“The airlines came to us,” Mr D’Aguilar told Tribune Business. “It’s not that we went looking for it.

They came to us. They have these aircraft they are not presently using because of the disaster that happened in the Leeward Islands and

the Virgin Islands, so if we can make the case we’re hoping to acquiesce.

“We’ve got to make the case. The hotels have to come together, pick a destination and put more marketing dollars into that destination to create demand so the airlines can see it - that we’re trying to create an increase in demand - and as a result they’re prepared to supply additional airlift.”

Mr D’Aguilar added that the Ministry of Tourism, Nassau/Paradise Island Promotion Board and individual hotels would have

aware” of the problems, having already formed a committee - featuring private and public sector representatives - to improve the Bahamas’ ease of doing business and economic competitiveness.

He added that improvements here were essential to increasing FDI levels in the Bahamas, which he described as critical to pulling this nation out of its low/no growth and high unemployment spiral.

“This whole ease of doing business and barriers to entering markets in the Bahamas is very relevant to FDI, which is the engine of the Bahamas’ economy,” Mr Moree said.

Emphasising that higher FDI levels translated into

higher GDP growth rates under the Bahamas’ current economic model, he added: “We have to be careful we don’t erode our competitive advantage.

“Not only do we affect our ability to grow and expand financial services, but we also affect the volume of FDI, which corresponds to anemic rates of GDP growth that we’ve had over the last several years.

“I maintain very strongly that any complete solution to the economic problems we’re confronting at the moment in the Bahamas must involve significantly higher rates of GDP growth,” Mr Moree continued.

“We will not be able to tax our way out of these

economic problems, we won’t be able to borrow our way out of debt, and will have to have higher levels of financial discipline in management of the national finances and have more efficiency in collecting current revenues and taxes.

“Any successful solution has to involve higher levels of GDP growth. Under this current economic model we have, it is extremely difficult - if not impossible - to achieve acceptable levels of growth in GDP without substantially increasing volumes of FDI. “That is directly related to our ability to service international business and produce results in a reasonable timeframe, which is what the ease of doing

business is. Our ranking in that area is not acceptable, and we have to do better.”

With Hurricane Maria potentially threatening the Bahamas as another Category Five hurricane, Mr Moree said it was even more important for the Bahamas to reform areas such as this that were under its control.

Reiterating that solutions to the Bahamas’ numerous problems were all linked, he added: “These issues of protecting and growing our financial services industry; tackling the ease of doing business in the Bahamas; achieving higher levels of FDI; and increasing the GDP growth rate are all inter-related. They impact one another.”

to collaborate in “ramping up their marketing” to convince the airlines to direct their spare capacity postIrma to the Bahamas.

“That [Hurricane Irma] has created a supply problem that, if we are savvy, we can ramp up our marketing to take advantage of to add airlift that is unallocated right now,” the Minister told this newspaper.

“We are very mindful of the fact our Caribbean brothers and sisters are catching God almighty hell, and would prefer not to benefit from their fate, but these opportunities are presenting themselves.”

The possibility of attracting additional airlift, albeit in tragic circumstances, has come at a particularly

opportune time for the Bahamas as the $4.2 billion Baha Mar project continues to ramp up staffing and room inventory ahead of its full April 2018 opening.

Provided this nation is spared the worst effects of Hurricane Maria, any extra air service will coincide with the opening of Baha Mar’s SLS Lux property, which is timed for the October/November period.

The Bahamas needs to attract an additional 314,000 airline seats annually to fill Baha Mar’s net 2,300 room increase once the property is fully operational, which some observers believe is a ‘tough sell’ for the destination.

With just the 1,800-room Grand Hyatt at Baha Mar

property open, Atlantis and other New Providencebased hotels have already expressed concerns over the new ‘destination resort’s’ rate discounts, amid continuing fears that it will ‘split’ rather than grow the high-end visitor market with Paradise Island.

The extra potential airlift could resolve these concerns in the short-term by supplying Nassau/Paradise Island with sufficient supply to fill the increased room inventory.

Mr D’Aguilar, meanwhile, argued that the Bahamas would be benefiting the wider Caribbean if it could attract this airlift, thereby ensuring it remained in the region for when Irma-ravaged destinations had fully recovered.

He added that should the airlines reallocate planes, and millions of dollars in marketing spend, to US routes it would be extremely hard for the Caribbean to regain the airlift it enjoyed before, “We think it’s better and advantageous for the entire Caribbean to keep that lift in the Caribbean,” Mr D’Aguilar said. “As those damaged markets come back on stream, they can get back their lift and life goes on.”

Mr D’Aguilar said Irma’s aftermath had also resulted in increased cruise ship

calls to Nassau, Freeport and Bahamian private islands, due to the devastation on St Maarten and other regular ports in the Caribbean.

“Cruise ships unable to go to the Leeward Islands, British Virgin Islands and US Virgin Islands are making stops here and in Freeport, I’m told, as a result of the inability to go there,” the Minister said.

“It’s having a positive effect from the standpoint.”

With the Bahamas’ tourism industry having suffered “a glancing blow” from Hurricane Irma, Mr D’Aguilar expressed particular concern over the storm’s impact on Florida, which accounts for around 80 per cent of this nation’s boating market.

He reiterated that the loss of docking space at Resorts World and Bimini Big Game would hit Bimini especially hard, given that much of the island’s tourist business was reliant on visiting boaters.

“A lot of people’s travel plans got disrupted, but it’s a slow part of the year,” Mr D’Aguilar said. “If there’s one positive take away from this hurricane, at least it waited until after Labour Day and the slow period.”

NOTICE Pursuant to the Provisions of Section 138 (2) of the International Business Companies Act, 2000, (As Amended) NOTICE is hereby given that GABUS ASSET INVESTMENTS LIMITED has been dissolved and that the name has been struck from the Register of Companies with effect from the 22nd day of August A. D. 2017.

Enervo Administration Limited, LIQUIDATOR Montague Sterling Centre, East Bay Street Nassau, The Bahamas, P.O. Box N-3924

MARKET REPORT MONDAY, 18 SEPTEMBER 2017

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NOTICE

NOTICE is hereby given that ANIA DUCAS of #6 Carew St.,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 19th day of September, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

BISX ALL SHARE INDEX: CLOSE 1,863.19 | CHG -4.69 | %CHG -0.25 | YTD -75.02 | YTD% -3.87 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 19.17 9.09 3.70 2.41 0.15 6.47 8.60 6.30 10.60 14.49 2.52 1.60 6.00 10.00 11.00 3.42 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 3.41 6.60 11.93 10.00

1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 105.00 100.00 106.00 105.00 103.00 100.00 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 Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

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

E J K L M N

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

52WK LOW 100.00 100.00 100.00

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 2.08 3.96 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 3.65 1.39 0.14 3.92 8.60 6.10 10.60 10.01 2.50 1.55 6.00 9.75 7.08 3.41 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 100.00 100.00 100.00 109.69 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.28 17.43 9.09 3.65 1.39 0.14 3.92 8.60 6.10 10.48 10.01 2.50 1.55 6.00 9.75 7.08 3.42 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 -0.12 0.00 0.00 0.00 0.00 0.00 0.00 0.01 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

109.59 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.10 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

5,282

10,000

VOLUME

NAV 2.08 3.96 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 6.8 N/M N/M -4.6 15.0 9.0 19.4 17.9 24.5 3.4 5.0 12.7 12.3 3.7 -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

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% 2.55% 4.51% 1.07% 1.53% 1.38% 2.48% 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 31-Jul-2017 31-Jul-2017 28-Jul-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

YIELD 1.87% 5.74% 0.00% 5.75% 0.00% 0.00% 0.00% 3.49% 3.61% 3.44% 5.69% 2.40% 3.87% 4.83% 4.62% 0.00% 9.94% 2.00% 4.96% 0.00%

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

NOTICE TEQUILLA BAY INVESTMENTS LIMITED N O T I C E IS HEREBY GIVEN as follows: a) TEQUILLA BAY INVESTMENTS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. b) The dissolution of the said company commenced on the 15th September, 2017 when the Articles of Dissolution were submitted to and registered by the Registrar General. c) The Liquidator of the said company is Octagon Management Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, Nassau, Bahamas.

Dated this 19th day of September, A. D. 2017 _________________________________ Octagon Management Limited Liquidator

THE TRIBUNE

Tuesday, September 19, 2017, PAGE 5

BODY AND MIND

Learning to live with asthma

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net

E

XPERIENCING symptoms such as wheezing, coughing, shortness of breath and chest tightness should never be taken lightly as it may be the beginning of a journey to asthma.

“Usually when someone is wheezing, that is how we most recognize asthma but if you have a cough that is recurrent or even chest tightness, any of those can be a presenting symptom.

Also important, when we

talk about asthma generally, we are really talking about bronchial asthma related to the lungs but there are other forms to recognize such as cardiac asthma,” said Dr Patrick D Roberts, Founding President of The Bahamas National Asthma Society.

With knowledge and understanding that expands as far as training at the American College of Chest Physicians, education at the Cardiff University of Wales, chairman at the World Symposium on Asthma in Infancy in Lisbon Portugal in 2004, and chairman of an International symposium held in Montreal in 2006,

KATHERINE ROLLE

Dr Roberts said asthma is fairly prevalent in the Bahamas, increasing in prevalence among all ages from infancy to old age.

“There is no doubt that we have deaths in the Bahamas of all ages over the years as it relates to asthma. We are just in the process of compiling statistics and numbers but I can say that deaths are happening less frequently now,” said Dr Roberts.

He believes with organizations such as The Bahamas National Asthma Society present in the country a difference can be made; from knowledge and detection to treatment.

PAKESIA PARKER EDGECOMBE

Strengthening the bonds of sisterhood IN celebration of their 54 years of service in The Bahamas, the Eta Psi Omega Chapter of Alpha Kappa Alpha Sorority Inc. is hosting a dynamic night of conversation centered around sisterhood.

Pakesia Parker Edgecombe, MP for West Grand Bahama and Bimini and member of Alpha Kappa Alpha, and Katherine Rolle, a young and inspiring motivational speaker, will lead the evening, providing provocative and engaging conversation for all attendees to join in.

Charter Day committee Chair, Phylicia Laramore said: “Our goal is to leave the conversation learning how to uplift each other, how to strengthen our bonds and how to build positive relationships with ourselves and with others.

This kind of positive reinforcement is needed particularly in the wake of catastrophic hurricanes like Matthew and Irma, where we need to strengthen sisterly bonds across our chain of islands.”

President of Eta Psi Omega, Contanza Adderley Bourne is in full support of this effort, adding: “For 54 years Eta Psi Omega has been providing Service to All Mankind in The Bahamas and now we want to use this moment to really focus on the strength of women in our country and the relationships we have with each other. We want to talk about the ways we can help and support each other for the continued positive development of ourselves and our country.”

That the women of Eta Psi Omega have opened

this event to the public is simply another way they are giving back. Ms Laramore said: “Working with my sisters in Eta Psi Omega has really enriched my life and we wanted all Bahamian women to have the opportunity to benefit from the same kind of conversation and interaction. Women are in so many ways the wealth and strength of our communities, that we forget to take time and work on ourselves. Creating this space for frank and honest conversation is simply another way that we could support Bahamian women.”

This event is open to the public. The cost is $40 and includes refreshments and hors d’oeuvres. Tickets can be purchased at the door.

“One of the things we do of course is host monthly meetings at the Bahamas Medical Arts institute in Dean’s Lane. We also give a series of lectures at all of the hospitals, establishing a chest clinic at the Princes Margaret Hospital.

When people go there with asthma they don’t have to stand in line, they can just go into the asthma room for service. People are now treated very quickly. We also have special literature that I have prepared for all the doctors and nurses on the Family Islands, and seminars being hosted quite frequently at both hospitals,” said Dr Robert.

Moreover during a Doctors Hospital Distinguished Monthly Lecture Series, Nicolette Chalke, a registered nurse at the Bahamas Medical Centre, discussed some of the main illnesses/ afflictions people tend to have and when they need to seek medical attention at an urgent care centre like the BMC on Blake Road.

Some of the common illnesses that nurses and doctors see at the BMC’s urgent care centres include asthma attacks, common cold, shortness of breath and allergic reactions.

“Asthma attacks are very common. As an asthmatic

you have home medications that you can take.

But if you are not responding to the medication that is a really good time to come in or go to an urgent care centre, especially if it is progressively getting worse,” said Nurse Chalke.

“What we can do for you if you are having an asthma attack is give oxygen. We have the ability to give 100 percent oxygen to the blood. We can also monitor your respiration and oxygenation status. We have machines where we can monitor how much of the oxygen is getting into your blood.”

PAGE 6, Tuesday, September 19, 2017

THE TRIBUNE

Untreated high cholesterol increases your risk of developing heart disease MORE than 100 million U.S. adults have high cholesterol, a major risk factor for developing heart disease, which is the leading cause of death in the U.S., according to the Centers for Disease Control and Prevention (CDC). Two out of three don’t have the condition under control and more than half don’t get treatment, the CDC reports. What’s more, three in 10 patients who experience side effects from their cholesterol medication discontinue treatment, according to a study published in the Annals of Internal Medicine.

Why are so many people with high cholesterol taking risks by not treating their condition?

“I find that many patients don’t fully understand the serious consequences of high cholesterol, and it’s not a condition that causes symptoms they can feel,” said Dr Shawn Dhillon, founder and medical director of the Calvert Medical Group in Baltimore and a leading authority on cholesterol.

“Unfortunately, this can often lead them to not seek treatment or stop taking their medicine that helps keep their cholesterol levels under control.”

Untreated high cholesterol can increase your risk of developing heart disease and having a heart attack.

To lower cholesterol, doctors often prescribe statins, a treatment category that includes more than seven different types currently available.

Despite the proven impact of statins on lowering cholesterol, at least 50 percent of people stop taking their prescribed statin within one year of starting it, according to a 2012 survey which was the largest known cholesterol survey conducted in the U.S. “When patients are first diagnosed with high cholesterol, I help them understand what the diagnosis means for their lifestyle and why they need to take their statin daily,” said Dhillon, who personally has high cholesterol and takes the statin LIVALO® (pitavastatin) daily to treat his condition.

“It’s also crucial to have a conversation with my patients about questions or concerns about their statin.

By identifying any issues,

I can either change the amount of the medicine or try a different statin that might be more appropriate for them instead so they don’t give up on their medicine.”

Want to learn more about high cholesterol and treatment options? Take this quiz on cholesterol risks and treatments: 1. All cholesterol is bad. True or false?

Answer: False! Your body actually needs some cholesterol - a waxy, fatlike substance that occurs in two “forms.” Low-density lipoprotein cholesterol (LDL-C) makes up most of the body’s cholesterol, and is the “bad” cholesterol. Having high levels of LDL-C can lead to plaque buildup in your arteries and result in heart disease and stroke. Statins work by blocking the important enzyme that your liver needs to produce the bad cholesterol in your body.

High-density lipoprotein cholesterol (HDL-C) is “good” cholesterol, with

Answer: False! Statins are the most common type of cholesterol-lowering medication, but they are 2. High cholesterol is not all the same. In fact, caused by: A. Diet; B. there are seven different Lifestyle; C. Heredity; or statins currently available.

D. All of the above.

Many statins have a risk of interacting with other Answer: D. All of the drugs or substances due to above! While diet and life- how they’re processed in style are leading causes the body. Perhaps the most of high cholesterol, some commonly known interacpeople may be predisposed tion is the conflict between to having high cholesterol some statins and grapefruit, but medications such as due to family history. those for high blood pres3. I can control my sure and the prevention high cholesterol by: A. of blood clots, even many Eating fewer fatty foods over-the-counter medicaand carbohydrates; B. tions and supplements, also Exercising more; C. have the potential to cause issues when taken with Taking medication; D. certain statins. However, All of the above.

LIVALO, along with a Answer: D. All of the heart-healthy diet and regabove! Many people will ular exercise, can improve need to take medication overall cholesterol levels like a statin to help control while having a lower risk their high cholesterol, on of certain unpredictable top of practicing healthy drug interactions based food habits and exercising. upon how it’s processed in the body.

4. Cholesterol-lowering Finding the right statin medications, called to treat your high chostatins, are all the same. lesterol is vital, said Dr True or false?

Dhillon. doctors recommending having levels of 60 or higher.

“Statins are first-line medications for treating high cholesterol, and their safety and effectiveness are supported by years of research, clinical trials and years of good patient outcomes,” he added.

“However, common side effects, such as muscle aches and overall fatigue, may deter people from taking their medication.

That’s why it is essential that people have an open dialogue with their doctor to ensure they find a statin that works for them, as an individual.”

Dr. Dhillon says LIVALO is his top choice to help his patients manage their cholesterol because the medication differs from other statins in some important ways, including: * The body breaks down LIVALO differently than most other statins, so it can be less likely to interact with other medicines (including commonly prescribed medications for high blood pressure and the prevention of blood clots), vitamins and supplements.

* Because LIVALO is metabolized through a different pathway in the body, patients are also able to eat grapefruit or drink grapefruit juice. Certain statins, other than LIVALO, may interact with grapefruit and grapefruit juice resulting in too much drug in the blood stream, increasing the risk of adverse events. * The FDA has recently cautioned the public on the potential adverse effect of statins on glucose levels as a side effect of statin therapy.

Importantly, LIVALO has been studied in patients with Type 2 Diabetes, many of which are on multiple medications and demonstrated a non-significant change in blood glucose levels.

“Unmanaged high cholesterol can lead to serious health consequences, including heart disease. The good news is, making healthy lifestyle choices including diet and exercise, and finding the right statin for you, are effective ways to manage your high cholesterol.”

Organic - look for the label guarantee IF you’re a parent, you’ve probably come across ongoing debates regarding the term “organic” and what should go into your child’s body. But, what about organic versus non-genetically modified organisms ? A recent study from Perrigo Nutritionals revealed that more than half of moms didn’t know that organic is inherently non-GMO. So, what’s the real difference?

Simply put, organic is always nonGMO, but, unlike non-GMO, products labeled organic also guarantee: * No use of toxic pesticides or chemical/synthetic fertilizers. * No use of antibiotics or synthetic hormones, artificial flavors, colors and preservatives. * Support for organic farming practices and animal health and welfare “It’s important to understand the difference between these labels so you can make the right nutritional decisions for you family,” says Jessica Turner, bestselling author and founder of the Mom Creative blog.

Looking beyond the non-GMO label doesn’t have to be an allor-nothing approach, especially since purchasing all organic can add up quick. As a mother of three, Turner believes the following products are worth the extra splurge for organic instead of just non-GMO for your child.

Baby Food: As a child starts eating solids, many organizations such as The Environmental Working Group recommend always going organic when it comes to the “dirty dozen” such as apples, bell peppers, peaches, etc. to avoid pesticides. Purchasing baby food jars or packets? Make sure you look for a Certified Organic label, not just a non-GMO certified label to avoid all those chemicals.

Milk: Milk is a nutrient powerhouse when it comes to your child’s nutrition with vitamin D, calcium and protein, but unfortunately it can sometimes contain not-so-good ingredients. Organic milk brands like Organic Valley have absolutely no antibiotics, synthetic hormones, toxic pesticides or GMO anything. Going organic also supports a better life for the cows since they have access to pastures (another thing

not guaranteed by only purchasing non-GMO).

Infant Formula: According to the Perrigo Nutritionals study, 43 percent of moms said they purchased organic foods for their babies when they started eating solids, but only 10 percent purchased organic infant formula. So why not choose organic for your baby from the very beginning?

Choosing organic brands like Earth’s Best or Honest may be

worth the extra investment since it will ensure you are avoiding pesticides and hormones- something not guaranteed by just the non-GMO label.

Skin Car: Skin care products that go on a baby’s skin like lotion, diaper cream, shampoo and soap are being absorbed into their bloodstream. Since their skin is more porous than adults, products from organic/ natural lines such as Burt’s Bees

or Seventh Generation may be worth the extra splurge to ensure your child is being exposed to the least number of chemicals as possible.

At the end of the day, if you’re not sure, err on the side of buying organic since organic is always non-GMO, plus more.

For more information on organic versus non-GMO, visit www.choose-organic.com.

THE TRIBUNE

Life skills

By YANIQUE SMITH Off The Spectrum

LIFE skills are the most basic of the functional skills. They are the building blocks for a productive life.

We usually acquire these skills in the first few years of life.

Life skills cover a wide variety of milestones which include: • • • • • •

self- feeding dressing self-toileting walking making simple requests health & money management • home management • community integration Students with developmental delays often need to have these skills taught through breaking them

down, modeling them or through interventions.

Life skills are the foundation of my classroom and are at the core my teaching instruction. Of course, conventional academics are super important and every child should be encouraged to reach their highest academic goal. Nevertheless, where conventional academics may fail or plateau, life skills can make up for.

I’m often saddened and sometimes frustrated at the fact life skills are not viewed as one of the core subject areas in a typical school. Even though most of the foundational skills are effortlessly developed, there are still several that need to be taught - and not just to individuals with developmental delays!

Some of these include: money management (not

Tuesday, September 19, 2017, PAGE 7

to be confused with money identification and counting money), time management (not to be confused with telling time), health management, conflict-resolution, job seeking skills, to name a few.

Without some form of life skills, you wouldn’t be able to read this article.

Think about it. You had to have some idea of where to buy a newspaper from within the community. In addition, you had to have some sort of money management skills in order to pay for this paper.

What Exactly are Life Skills?

Life skills are: · those skills which will assist an individual in interacting with his or her environment as

independently as possible (interpersonal skills)

· those skills that are necessary to allow an individual to become a contributing member of society.

· those skills which develop in the student a sense of dignity and worthiness

· those skills which permit an individual to problem solve appropriately and responsibly in life situations.

· those skills which are necessary for an individual to manage his/her own personal affairs.

The entire aforementioned help make a balanced individual.

Without these skills being

instilled in our children at an early age, we risk robbing them of a fulfilled life.

The beauty about teaching life skills is that you can find teachable moments everywhere - not just in the classroom!

Here are some ways you can incorporate life skills lessons into everyday life.

1. Allow students to independently follow a daily schedule. Note: Lower functioning students with developmental delays may benefit from the use of visuals.

2. Allow students to make small purchases with their money from the school’s tuck shop or restaurants.

3. Allow students to resolve minor conflicts with peers or siblings without intervening.

4. Allow students to run complexed errands to different parts of the school.

Note: Some students with developmental delays may need some assistance finding different areas of the school.

5. Create a meal preparation lesson allowing students to follow a simple recipe. (This one is my favourite!)

Learning life skills can be challenging for people with developmental delays.

However, it is essential for safety, self- esteem, independence and overall fulfillment in an individual.

Teach them, be consistent and your child will thank you for it.

• For workshop inquiries or if you have any questions, feel free to contact us.

Contacts: 242-552-5909 Email: tutoringtherapy@ gmail.com Facebook: Therapy Learning Center

GENDER AND ITS IMPLICATIONS AFTER THE WINDS HAVE DIED

By IAN BETHELL-BENNET

for assistance in rebuilding and fixing homes after a hurriIRMA has gone for good, José cane’s devastation. Sadly, many is still ruminating somewhere out unscrupulous charlatans use this there in the Atlantic and we still as a time to descend and prey have a number of weeks left in on unsuspecting women because the Atlantic Hurricane Season of of our cultural beliefs and ideas 2017. That does not mean that that women are inferior and do an out-of-season storm could not not understand construction or churn up unexpectedly, however. business. This is far from fact, At the moment we’ve all got our but so many use their skills to do eye on Tropical Storm Maria bad rather than good, we are left which may be heading the Baha- wondering who really is inferior.

To offer an example of unscrumas way.

After the storms have passed pulous ‘masculine- identified’ it’s time to think about a number behaviour, offering to fix a roof of factors from the devastation at above premium prices and when the work is underway not they can leave behind.

As we know, gender is the social taking off the plastic strip from continuum on which we peg male the shingles so that they adhere and female behaviour. Gender to one another and so do not fly is socially constructed and used off the roof at the first storm, not to control the ways people nailing down the shingles in the carry themselves based on their correct way so that shingles stay sex. Masculine behaviour resides affixed. So often nails will be bent at one end of the social con- and or not fully hammered in, or tinuum and feminine behaviour not put in the correct part of the at the other. Be that as it may, shingle. The idea is that women people tend to feel more com- will not know because they won’t fortable using the word gender to recognize shoddy work. Women mean sex than using the word sex are not expected to get out on the roof and inspect the work. to describe an individual’s sex.

We consider the impact being female has on one’s experience in Price gouging. the wake of the storm. Firstly, we So many contractors and roofknow that women are more often ers, not to mention suppliers use and more negatively impacted by back-end pricing to get away with natural disasters because they are commercial murder when it comes women. to work they do. They use a combination of low-quality, cheap What does that mean? materials to do work and then Given that over 50 percent of hike up the price after they have households are headed by single completed the work, because, so women, women will make up the often they can claim their work bulk of those who will be looking took longer, materials were not

available or that they had to buy more because the job was bigger than initially thought. Red flags. So, the price on the back end of the work bares little to no resemblance to the price offered before work began.

Nationally we do not manage this kind of criminality. We justify this kind of behaviour by justifying the crude and outdated gender stereotypes that we hold near and dear. It is also significant that some men who grew up in a home with a single mother tend to be as or more demonstrative of such attitudes and behaviours towards women, even while using their skills to convince women otherwise.

The larger picture.

Women are, for the most part, the sole bread winners in their homes, especially if they are single parents, in relationships where the male is abusive, unemployed or under-employed or an addict and so unable to contribute to the home, and so the burden falls on them to rebuild.

In the face of adversity, these women, who are usually already working two jobs, will be made to look for more employment.

Given their status as lowerwage earners, they are less likely to live in more solidly constructed homes, especially if they are in the lower-working-class cycle of teenage pregnancy after teenage pregnancy where grandmother, mother, and daughter have followed in this line. Of course, this trend is greatly class

determined. More single-headed households tend to be found among the working classes for various socio-economic, sociological and historical reasons.

More poor women tend to inhabit areas more prone to flooding and poor drainage and to be less well serviced by government agencies than others. The need for spatial justice as used

by Edward Soja can be employed in this context; better stated, the reality of spatial injustice becomes apparent.

Single, working-class women with multiple children tend to be at the bottom of the housing ladder and they also tend to be ignored by the society at large because of the sentiment that they created their own realty. Patterns of behaviour and life are extremely hard to break. This is called generational poverty, even if it is ‘invisible’ to the untrained eye.

As these women and others struggle to keep work in order to pay bills and to put food on tables, they are required to be more present in jobs that will usually only pay them a sub-standard wage for the hours that they do work. They do not get sick leave, holiday nor other benefits. They are therefore not able to devote time to children or childcare and find their lives spiraling out of control. As prices rise in the wake of natural disasters, these are the very people who are most affected by changes in insurance, if they can still afford it, increased electricity bills, as is

common nowadays and increased food costs.

As prices increase, these women are less able to provide goodquality, inexpensive food for their children and themselves, so the reality of potential failure of the next generation increases. Cheap, low-quality food such as boxed Macaroni Dinner, tuna filled with mercury, corned beef filled with salt, Ramen Noodles filled with everything artificial and harmful, only further exacerbates the downward spiral.

Ultimately, we reproduce a culture that has never sustained black, working-class women. It does not value women, and they are the primary informal-working people in the community because they run more households and must scrimp and save and invent. Further, our attitudes justify the exploitation of women by paying them little, charging them more, and demanding high rates for poor work.

Natural disasters wreak havoc on women who are positioned as the sole breadwinners because of the disappearance of the typical or traditional Caribbean safety net and fabric of family and kinship networks. As these storms become an increasing part of our daily realities, women will more often fall into deeper poverty and so their children will be that much more unlikely to succeed, the curse becomes generational. Perhaps we should explore the aftermath of these three last hurricanes to produce local work on the gendered impact of natural disasters on The Bahamas.

SECTION B

TUESDAY, SEPTEMBER 19, 2017

It’s all about style - and colour

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net

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ROVIDING local beauticians direct contact with top educators in the field of cosmetology, the Bahamas Supply Agencies will add to their list of events on Monday, October 16 - with the launch of the Colour Me Matrix Hair Show.

Scheduled to take place at the British Colonial Hilton, beginning 9am to 5pm, attendees will receive hands-on training working with cosmetology mannequin heads alongside leading L’Oreal Artistic Educator for Matrix, Patricia Rodriguez.

Highlights will include colouring techniques such as colour melting; live model demonstrations of the versatility of the Matrix colour line; special show deals on Matrix products; giveaways and a buffet lunch to help divide the day between product knowledge and training.

Distributing top brands in the country since the 1950s, through the years the Bahamas Supply Agencies’ products have ranged from toys, cleaning supplies to beauty products. The company is currently the Bahamian distributor for L’Oreal Professional Products Division with brands that include Redken, Mizani, Essie, Kerastase and Pureology.

“Bahamas Supply Agencies has hosted similar events but not one that exclusively has Matrix colour as the focus,” said Samantha Lowe, Bahamas Supply Agencies General Manager..

“In June we hosted a Redken education at the

Hilton. In July we had a joint Mizani education event at BTVI and this was an amazing event. Local stylists and BTVI educators participated in the event. Live models really showed the quality of the Mizani brand. Bahamas Supply Agencies is committed to the next generation of rock star artists, and the Bahamas has an incredible amount of talented young artists that, with training, can make an incredible career within this industry,” With a responsibility in creating and marketing events for the company, Samantha said it is her duty to liaise with the international L’Oreal educators to ensure events are tailored to the company’s market.

Speaking highly of Patricia HIGHLIGHTS from Bahamas Supply Agencies’ Mizani Redken events.

Rodriguez, Samantha mentioned her “vivacious energy,” adding Patricia has captivated audiences globally and has graced stages and magazines alike.

“Pati is a member of the Latino Expressionist team and has joined the L’Oreal team as a highly regarded artist. The goal of the event is to have local hair artists learn about the Matrix colour line from one of L’Oreal’s top educators so they can elevate their work within the industry. The hands-on training with mannequins allows the educator to assist each participant with their techniques. They can discuss ingredients, techniques, and questions they may have with the products,” said Samantha.

As with any industry, Samantha believes continual education is very important for all hair artists. With trends changing and evolving she said hair stylists need to remain current on all aspects of the industry including techniques and technology.

“Matrix not only releases new colours each year but new hair care products that assist colour lasting longer and staying vibrant. In 2017 clients are demanding rock star hair artists as opposed to a simple stylist.

As the Bahamian distributor for L’Oreal Professional Products Division - Bahamas Supply Agencies is on the forefront of the hair artist revolution providing L’Oreal brands to top salons throughout the Bahamas,” said Samantha.

After hosting annual events for L’Oreal over years, Samantha is pleased to note some participants take the lessons learned as far as staying in contact with the educators via social media.