09262019 BUSINESS

business@tribunemedia.net

THURSDAY, SEPTEMBER 26, 2019

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Minister hails Carnival’s ‘monumental’ $100m deal

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday hailed Carnival Corporation’s $100m Grand Bahama port deal as “monumental” for breaking the model of cruise line control at their private destinations.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the agreement was “transformational” in that it will create Bahamian-owned small and medium-sized businesses inside the planned port.

He argued that this would provide a break from the cruise industry’s traditional private island and destination model, where it typically “controls” the guest experience via a vertically-integrated business model that sees it profit from virtually all transactions that occur.

Besides creating a “more convenient” gateway to Grand Bahama for millions of additional visitors per year, and providing 1,000 direct and indirect jobs, Mr D’Aguilar said the Heads of Agreement signing had occurred at a time when the island was especially in need of an economic lift.

He added that the devastation inflicted by Hurricane Dorian made Carnival’s

SEE PAGE 4

A BAHAMIAN broker/ dealer has hinted it resorted to court action to remove the five-day licence/registration suspension imposed on it last week by the Securities Commission.

Guy Gentile’s online broker SureTrader, an affiliate of his Swiss America Securities, used its Facebook page to announce its reopening this Tuesday - one day before the temporary suspension imposed last

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A

TOP Grand Bahama hotelier yesterday warned that “Freeport’s business model won’t work” unless its airport is rapidly restored to a standard where it can receive US and international flights.

Magnus Alnebeck, Pelican Bay’s general manager, told Tribune Business that Grand Bahama International Airport’s owners needed to be pressed on their plans for rebuilding the terminals and infrastructure devastated by Hurricane Dorian given the facility’s critical importance to the island’s tourism and industrial economy.

Acknowledging that the airport’s controlling owner, Hutchison Whampoa, has form for failing to repair hurricane-ravaged Freeport assets, Mr Alnebeck suggested that both the government and prospective Grand Lucayan purchasers sound it out over whether it was prepared to sell the asset.

He argued that the Minnis administration, in particular, should have a “serious sit down” with both

week was supposed to expire.

“We have good news. By court order, our suspension has been lifted and trading has resumed,” SureTrader told its clients and the wider capital markets. “We will also resume normal business operations tomorrow, Tuesday, September 24, and our priority will be to ensure that all client queries, concerns and requests are responded to in a timely manner.”

SEE PAGE 6

PM urged: Reduce the burden for GB

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A LEADING Grand Bahama business executive has urged the Prime Minister to ensure “the burden on our businesses is reduced as we rebuild for the umpteenth time”.

Dave McGregor, Grand Bahama Power Company’s chief executive, encouraged Dr Hubert Minnis to “keep a close eye” on Freeport’s recovery and that of the wider island following the battering it had

$4.54

‘Freeport won’t work’ if airport fear realised

Broker defeats its suspension

By YOURI KEMP

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received from Hurricane Dorian.

Pointing out that Grand Bahama “took a hell of a beating” after the Category Five storm stalled over the island for two days, Mr McGregor said its private sector had only “just been getting back” from Hurricane Matthew’s October 2016 strike.

“I’ll be working with the chamber here to make sure businesses get the tax breaks and grants from the government to rebuild,”

SEE PAGE 5

• Top hotelier: Rapidly restore US airlift • Or city ‘quickly becomes an Andros’ • Urges govt to seek Hutchison’s price

THE WESTERNAIR terminal at GB International after Dorian.

Hutchison and the Grand Bahama Port Authority (GBPA) to discuss whether the duo would be willing to sell their respective 50 percent stakes.

With the US pre-clearance facility unlikely to return until Grand Bahama International Airport was restored to an acceptable condition, the Pelican Bay chief said Freeport and the wider island faced the threat of “being converted to an out island very quickly”.

He argued that it “would not even become an Exuma or Eleuthera”, as both those islands receive international flights, but rather

“an Andros” located just 80 miles from South Florida unless international airlift came back “as quickly as possible”.

“To be able to get US airlift back in, and Bahamasair back up and running, is vital - not only for tourism but for the Freeport business model with all the industrials,” Mr Alnebeck told Tribune Business. “Without the airport the Freeport model doesn’t really work.

“Without the airport opening up Freeport gets converted to an Out Island very quickly, but an Out Island without airlift from the US. We don’t

$4.54 Landfill firm hails ‘first fire free summer in decades’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

even become an Exuma or Eleuthera because they have airlift from the US. We become an Andros.”

Mr Alnebeck’s comments echo fears and scepticism privately expressed to Tribune Business by other Freeport businessmen and residents in recent days over the willingness of the Grand Bahama International Airport’s to rebuild the facility following the likely multi-million dollar devastation caused by Hurricane Dorian.

Such concerns have likely been sparked by Hutchison Whampoa’s actions at the Grand Lucayan following Hurricane Matthew in October 2016, when it pocketed the insurance proceeds received but failed to repair the resort - ultimately leaving this to the Government (Bahamian taxpayers) along with the task of finding a new owner.

Mr Alnebeck suggested that Hutchison should be “given the benefit of the doubt” over the airport until its intentions become clear.

THE New Providence landfill’s operator yesterday hailed the “first fire-free swummer in decades” as a “remarkable accomplishment” amid key boardroom changes.

Henry Dean, deputy chairman of New Providence Ecology Park, declined to comment on Felix Stubbs’ ascendancy to the chairman’s seat to replace Kenwood Kerr, the Providence Advisors chief, despite multiple Tribune Business sources confirming the move.

While the reasons for the switch are unclear, and Mr Kerr remains on the operator’s board, Mr Dean said New Providence Ecology Park was now targeting early 2020 to start executing on the land’s transformation into green space and the creation of recycling and mulching income streams.

With access to capital “no longer a concern” despite initial investor “apprehension”, he added that the landfill operator was also examining its options for addressing “the great risk of fire” posed by the growing

SEE PAGE 4

SEE PAGE 5

PAGE 2, Thursday, September 26, 2019

THE TRIBUNE

How artists differ from designers

Y

OU are probably thinking: “Can there really be an entire article devoted to the differences between a graphic artist and graphic designer?” You may not realise, but there are considerable differences.

PERSPECTIVE As someone who has worked as both a graphic artist and a graphic designer, the two professions admittedly do have the following things in common.

Both rely on visuals to execute their work, both work in digital and print formats and, of course, both start with the word “graphic”. But the roles of graphic artist and graphic designer actually have different objectives. Using my experience and knowledge, I will break down the differences: GRAPHIC ARTIST The sole intent of a graphic artist is to create visuals that facilitate an idea or story. Sometimes there is no logic to the creation of the designs and, in other instances, the visuals are the platform for an

entire story.

There is no limit to the kind or amount of mediums they use. Consequently, graphic artists tend to bend or break some of the design rules, but only if it fits the composition or story being told.

A graphic artist’s portfolio might include cartoons, illustrations, graphic novels, comic books and movie illustrations.

WHAT MAKES A GRAPHIC ARTIST The common denominator between all these portfolio pieces is that they are more artistically inclined. Each piece does not follow a uniform set of rules. If the graphic artist’s intent is to tell a story, the visuals come first and the story second.

THE GRAPHIC ARTIST’S OBJECTIVE The main objective of a graphic artist is to entertain the viewer. Graphic artists work in a print or digital format, depending on the purpose of the design. Their work is created by hand or on a computer, and the artwork they produce often works in both print and digital format.

GRAPHIC DESIGNER In contrast, the graphic designer’s main intention is to get the viewer to interact with the content within the design. In the world of graphic design, content is king, and the purpose of the design is to help optimise concise information while providing a visual platform.

To better understand what a graphic designer might do, you should be able to identify the kinds of work they produce. A graphic designer’s portfolio might include info graphic, marketing collateral, print design, digital design, web design, instructional design, presentation design and logo design.

WHAT MAKES A GRAPHIC DESIGNER The common denominator for all of these portfolio pieces is that they serve as platforms for content that can be used in various forms of media. A prime example of graphic design is marketing collateral for a company - brochures, flyers, business cards, advertisements and websites - across all mediums.

GRAPHIC DESIGNER OBJECTIVE

The Art of Graphix

BY DEIDRE M BASTIAN

The main objective of a graphic designer is to deliver the content in an eye-catching manner. The composition, and how the design interacts, depends on the content being displayed. Graphic designers must follow strict guidelines due to the parameters of the content and medium, but graphic artists have more relaxed guidelines due to the unlimited possibilities for ideas and stories.

For graphic designers, content is of the utmost importance. The designer cannot create visuals without understanding the content it will facilitate. For graphic artists, the visual possibilities are endless.

The design depends on an abstract thought, and it is impossible to set guidelines.

To this end, the main difference between a graphic designer and a graphic artist is the importance of the imagery within the work. A graphic designer’s main intention is to facilitate content, and a graphic artist’s main intention is to facilitate an idea or story.

They both involve visuals, and can be in various forms of media. Both are essential because they facilitate different needs in the visual realm. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

NB: Columnist welcomes feedback at deedee21bastian@gmail.com ABOUT COLUMNIST: Deidre M. Bastian is a professionally-trained graphic designer/marketing coordinator and certified life coach with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.

STERLING GLOBAL AIDS WITH HURRICANE RELIEF A FREEPORT evacuee, who has been stranded for four days on a farm postHurricane Dorian, holds the only ticket he needs to get to Nassau while being rescued from Grand Bahama.

It is the tail number of a plane loaned by Sterling Global Financial, one of several corporate aircraft that have been deployed to assist in hurricane relief and recovery in The Bahamas following the Category 5 storm that struck on September 1.

The Sterling aircraft ferried supplies in, and people out, for nearly two weeks

as the need arose and commercial aircraft were not available.

In addition to its core real estate funding, investment and wealth management businesses, Sterling is one of the largest developers in the region.

It is currently ahead of schedule on phase one of its $300m, five-year Hurricane Hole mixed-use project on Paradise Island.

When complete, Sterling Commons - together with its residential and marina components - will create a high-end urban waterfront downtown.

Picture: Sarah Kirkby

PWC RAISES $375K FOR HURRICANE RELIEF

PWC Bahamas staff members join teams of volunteers helping to sort and pack donated items to be shipped to affected Bahamian communities.

PRICEWATERHOUSECOOPERS (PwC) Caribbean affiliates and US Charitable Foundation have donated a collective $375,000 to Hurricane Dorian disaster recovery efforts in The Bahamas.

The partners and staff of PwC’s Caribbean affiliates in The Bahamas, Bermuda, British Virgin Islands, Cayman Islands, east Caribbean, Turks and Caicos and Trinidad and Tobago raised $125,00 that will go directly to affected families in The Bahamas and the National Emergency Management Agency (NEMA), the Red Cross and the Salvation Army.

The PwC US Charitable Foundation has made a $250,000 grant to Team Rubicon USA, a nonprofit group that is on the ground in The Bahamas providing immediate and long-term disaster relief and support to help rebuild lives and communities.

PwC firms operating in

the Caribbean have also organised a number of employee-led fundraisers and drives to collect muchneeded items for the people of The Bahamas and provide support to charitable organisations.

Prince A Rahming, PwC Bahamas’ territory leader, said: “We are grateful for everyone’s thoughts and offers of assistance during this most difficult time in our nation.

“Our thoughts and prayers are with those families who have suffered loss of loved ones. Our partners and staff are fully engaged in the recovery efforts now as we seek as a nation to address the immediate needs of those most impacted and return the country to some level of normalcy.”

PwC Bahamas’ Nassau office has reopened and resumed normal daily operations. The Freeport office will remain closed until further notice.

THE TRIBUNE

Thursday, September 26, 2019, PAGE 3

CHAMBER RECATIVATES ‘RESTORE BAHAMAS’

By YOURI KEMP

THE Bahamas Chamber of Commerce yesterday unveiled the relaunch of its “Restore Bahamas” initiative to help small businesses rebound from Hurricane Dorian’s devastation.

The private sector organisation said it was reviving the effort conceived in 2015 following Hurricane Joaquin, when it raised more than $400,000 with the help of partners such as the Rotary Clubs of The Bahamas to assist micro, small and medium-sized enterprises (MSMEs) in

the southern Bahamas with their storm recovery.

Hubert Edwards, Restore Bahamas’ chairman, said the initiative was intended to supplement and add to the $10m equity/guaranteed loan financing made available by the government to support Abaco and Grand Bahama MSMEs rebuild in Dorian’s wake.

Revealing that Restore Bahamas will seek financing from international sources, Mr Edwards added that it is working closely with the presidents of the Abaco and Grand Bahama Chambers of Commerce to better understand and

support the specific needs of their communities.

“We will be giving small grants to small businesses to help them get back on their feet,” Mr Edwards explained. “We understand the urgent need to get commerce re-started in Abaco and Grand Bahama to help speed up the rebuilding process. We will institute what was done before after Hurricane Joaquin.

“We will follow the necessary due diligence processes and require the requisite registration documents from business persons; we won’t be giving money away willy-nilly. We will

Integrity Bill hope revived for anti-corruption activists

By YOURI KEMP ANTI-CORRUPTION activists yesterday said it would be a “major breakthrough” if the Integrity Commission Bill is ready and “on the table” for when the House of Assembly reconvenes.

They were responding to comments made yesterday

by Carl Bethel QC, who told Tribune Business that the long-awaited legislation was “on the table for the next sitting of the House” once “some amendments” were made.

Lemarque Campbell, an anti-corruption activist, hailed Mr Bethel’s statement as “great news”. He added: “Giving the long-standing wait for the Bill, all the way from October 2017 when it was first tabled, it would be a significant breakthrough, even though I’m not aware of any of the amendments Mr Bethel is speaking about. I am anxious to see what amendments would be made.”

He called on the government to circulated any changes to civil society groups for consultation prior to the Bill being debated in parliament. Mr Campbell said his primary concerns were proper enforcement of the Bill’s provisions in addition to making sure the proposed Integrity Commission is adequately funded to do its job.

seek to make any proceeds paid directly to the vendors of the business rather than having money sent directly to the business asking for financial assistance.”

When asked by Tribune Business whether Restore Bahamas has a funding target, Mr Edwards said: “We would not want to highlight a figure just yet.

But our committee meets on a weekly basis, and we’re still trying to ensure that we move in concert with all of the other moving parts involved, particularly in terms of the Chamber of Commerce branches in Abaco and Grand Bahama

and the other agencies involved in business support services.”

As for funding sources, he added: “We are targeting funding outside of what was announced by the prime minister. We’re looking far and wide for funding, especially internationally with other Chambers of Commerce, particularly with CariCham- The Network of Caribbean Chambers of Commerce.

“Where we have contacts out of country we will also seek assistance outside of funding. For example, assistance with businesses looking to partner with

BREA CHIEF URGES LANDLORD LENIENCY

By YOURI KEMP

CARL BETHEL QC

LEMARQUE CAMPBELL

The proposed Integrity Commission Bill will dissolve and replace the current Public Disclosure Committee, establishing a comprehensive and independent anti-corruption body to reform anti-corruption policy, investigate issues of corruption, administer public disclosure, and educate the public.

Mr Campbell, meanwhile, added: “We are also awaiting the debate and consultations on the proposed Ombudsman Bill that was also tabled in October 2017, and the rest of the provisions in the Freedom of Information Act to be brought into force.

There are some sections that have been brought into force, but the majority of the Act has not been brought into force. In particular,only Section 47 has been brought into force - the Whistleblower provisions. But even the whistleblower provisions do not go into great detail with regard to the actual mechanics on how the process should go; just a blanket protection for a whistleblower.”

“I hope the government

would look at the contextual similarities in the region, particularly with the Integrity Act in Guyana, for instance, that was established in 1997, and also the same Jamaica passed in 2017. If we can get an understanding of the experiences from these countries we can enhance our own Integrity Bill moving forward.”

Mr Campbell continued: “The most important thing is to see the Bill enforced after it has been debated and passed. For example, with the Public Disclosure Act not being enforced we don’t want the Integrity Act to end up like that where no one adheres to it.

“Lack of funding for the Integrity Commission proposed in the Bill would hamper our efforts. For example, in Guyana they had a situation where they could not provide funding for a member of their commission, which brought their efforts to a standstill.

We have to make sure the commission is independent from political interference and provided with the adequate funding to make it effective.”

international agencies and other businesses, and provide businesess in Abaco and Grand Bahama with contacts to any party if needed.

“We encourage people to support the Chamber in the wider restoration of Abaco and Grand Bahama.

The chamber is committed to the restoration of commerce in this area and we are asking persons to support the chamber and Restore Bahamas by going to our website and find out how you can support the people of Abaco and Grand Bahama.”

THE Bahamas Real Estate Association’s (BREA) president yesterday called on landlords to be lenient in a bid to ease the shortage of affordable rental housing post-Hurricane Dorian.

Christine WallaceWhitfield, pictured, said rental units priced between $1,000 to $2,000 per month were almost fully taken in New Providence due to the influx of Dorian evacuees from Grand Bahama and Abaco, with the few properties available priced at $2,500 and upwards.

This is likely unaffordable for many of the displaced, she said, adding that this would result in a shortage of rentals with property owners now scrambling to put people in short-term housing.

For those who have reached out to BREA for assistance, Mrs

Wallace-Whitfield said: “We’ve been trying to put families in with other families in an attempt to get them into a rent-sharing arrangement so they can share the financial costs.”

“We have also been asking landlords, where they can, to waive the security deposit and reduce the rent prices if they can. We’re also making a special appeal to apartment building owners to put available and prospective units on the market with us. We’re looking for affordable properties for

evacuees, and trying to avoid landlords who may take to price gouging.”

Mrs Wallace-Whitfield added: “Even though we have not had a substantial report of any particular landlords price gouging, what we have gotten was more of a register of shock and alarm from a property seeker on the high prices of rental units in New Providence.”

She is also encouraging evacuees and displaced persons to find a licensed real estate agent “if you are seriously looking for a place to rent, or if you’re a landlord and trying to find the right tenant”.

“Keep reaching out.

Keep helping people.

Reach out to a firm that can help. Reach out to us because we’re looking to work with reputable organisations in helping people find homes,” Mrs Wallace-Whitfield said.

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PAGE 4, Thursday, September 26, 2019

THE TRIBUNE

Minister hails Carnival’s ‘monumental’ $100m deal FROM PAGE ONE

largest-ever private cruise port “so much more important”, and said its “unflinching desire” to proceed in the category five storm’s aftermath represented “a boost of confidence” for Grand Bahama and the wider Bahamas.

“This transaction, this new port in Grand Bahama, is monumental in many ways,” Mr D’Aguilar told Tribune Business. “First of all, it expresses confidence in Grand Bahama by the Carnival Corporation - to be investing as much as they’re investing, $100m in a completely new port which provides at least 1,000 jobs in terms of direct and indirect employment, and getting it up and running.

“What’s transformational about this deal is they’re creating businesses for Bahamians to own in the port.

Unlike other ports, where much of the experience is controlled by the cruise companies, and involves vertical integration where the cruise

companies benefit from all transactions that occur, this [ties in] to a major population centre.

“So the economic impact is substantially greater, and all businesses in the port are owned and operated by Bahamians. Third, it provides a venue, a point, from which vast amounts of tourists can begin to experience the island of Grand Bahama in the sense that the location is far more convenient than before.”

Carnival’s cruise port was initially destined for Dorianravaged east Grand Bahama under the former Christie administration, but it is now to be developed on 329 acres of land at Sharp Rock that is owned by a combination of Grand Bahama Port Authority (GBPA) affiliate, Port Group Ltd (the Hayward and St George families) and the Grand Bahama Development Company (Devco).

“This is going to create a lot of opportunities for small businesses in Grand Bahama to benefit from a significant amount of additional visitors coming to the island,” Mr

PRIME MINISTER, Dr Hubert Minnis, left, and Giora Israel, Carnival Corporation’s senior vice-president global port and destination development, signs Heads of Agreements for Freeport Cruise Port and Half Moon Cay developments.

Photos: Yontalay Bowe/BIS D’Aguilar reiterated to Tribune Business.

“This is a monumental deal and monumental agreement in many ways.... We’ve suffered a setback with the storm, which makes this deal so much more important. The fact Carnival has been unflinching in its desire to continue on is a boost of confidence for the island of Grand Bahama.”

The prime minister, speaking at yesterday’s signing ceremony with Carnival, said the Heads of Agreement for the new $100m port - as well as the $80m expansion of the Half Moon Cay private island used by its affiliate, Holland American Line - will be tabled in the House of Assembly once parliament returns in early October.

Carnival’s plans for its $100m port, as unveiled by

Dr Hubert Minnis, sound eerily similar in some respects to what Global Ports Holding is proposing for its $250m transformation of Nassau’s cruise port.

This especially applies to Carnival’s plans for an openair concert, or entertainment facility and amphitheatre, which will host day and night-time events, musical concerts and other live performances exactly what Global Ports Holding intends to build on Nassau’s waterfront.

Carnival, meanwhile, also plans to develop aquatic facilities, a lighthouse and fort structure, and food and beverage pavilion at its Grand Bahama destination.

It will also feature a “Harbour Town” plaza with shops eligible for duty-free status on approved goods sold to cruise passengers.

A Junkanoo Bahamian art plaza of Bahamian-operated stores; facilities for recreational and sporting activities, such as a zipline and rock climbing walls; ski lifts and water slides; beach volleyball, basketball, soccer, a yoga pavilion, walking and bicycle trails, an 18-hole miniature golf course and park areas will also feature prominently at the development.

Tams, trains, ferries and other vehicles may be used for transportation within the port, while a transportation hub with parking stations and areas for land tour/shore excursion buses, vehicles, taxis, rental cars and related transportation operations will also be built on site following consultation with tour operators in Grand Bahama and the Grand Bahama Taxi Union.

“There will be significant

opportunities for business development and entrepreneurship by Bahamians.

The new port will result in greater Bahamian ownership in terms of a range of business opportunities,” said the Prime Minister.

“In order to rebuild Abaco and Grand Bahama we have to spur economic development throughout the country. We must also accelerate economic projects on Grand Bahama and begin rebuilding on Abaco as soon as is possible.”

As for Half Moon Cay, the expansion includes construction of a cruise pier and supporting facilities. Beach restoration, restaurants and nightclubs, a shopping plaza, sports and entertainment facilities, nature trails and the development of a park and/or natural reserve areas are included in the plans.

‘Freeport won’t work’ if airport fear realised FROM PAGE ONE Founded in 1948, St Andrew’s has a long and proud tradition of providing the highest quality education to our students. St Andrew’s is accredited by the Council of International Schools (CIS), the New England Schools and was theoffirst school inthe Thehighest Bahamas to offer the Founded Association in 1948, StofAndrew’s hasColleges a long (NEASC), and proudand tradition providing quality education to our Baccalaureate (IB) Primary Programmeof(PYP) and DiplomaSchools (IBDP) Programmes. are England students.International St Andrew’s is accredited

by Years the Council International (CIS), theWeNew a diverse community of international and Bahamian life-long learners.

Association of Schools and Colleges (NEASC), and was the first school in The Bahamas to offer the International (IB) Primary Programme and from Diploma (IBDP) We are Due Baccalaureate to increasing student enrolment,Years the School invites (PYP) applications qualified and Programmes. experienced a diverseBahamian community of international and Bahamian learners.teaching vacancies with effect from candidates and Permanent Residents life-long for the following October 2019.

Due to increasing Primary student School enrolment, the School invites applications from qualified and experienced Vacancies Secondary School Vacancies Bahamian Teachers candidates and Permanent Residents for the following teaching vacancies with effect from qualified to teach Kindergarten-Grade 5 English Teacher October 2019.

Learning Support Teacher Physics Teacher Learning Support Assistant Teacher

Learning Support Teacher

Physical Education TeacherVacancies Primary School Vacancies Secondary School (Ability to offer a 2nd subject would be an advantage) Teachers qualified to teach Kindergarten-Grade 5 English Teacher Learning Support Teacher Physics Teacher Whole School Vacancies Learning Support Assistant Teacher Learning Support Teacher Learning Support Teacher School Counsellor Physical Education Teacher Handyman

(Ability to offer a 2nd subject would be an advantage)

GENERAL INFORMATION Candidates must be qualified teachers (holdingWhole a minimum of a bachelor’s degree or equivalent and a teaching School Vacancies qualification) with at least two years teachingLearning experience.Support For the primary roles, previous experience teaching Teacher the PYP is an advantage. For secondary roles, experience of teaching the IBDP is an advantage. Candidates School Counsellor must have experience working with students with diverse learning needs and abilities. Applications from Handyman teachers with experience in an independent and/or international school are particularly welcome.

APPLICATION PROCESS GENERAL INFORMATION Interested candidates should submit their application by email to sandrews@standrews.com. Please save your Candidates must be qualified teachers (holding a minimum of a bachelor’s degree or equivalent and a teaching application as one pdf document entitled ‘Application from your name’. qualification) with at least two years teaching experience. For the primary roles, previous experience teaching the PYP All is an advantage.

For secondary roles, experience of teaching the IBDP is an advantage. Candidates applications MUST include the following: ● experience Letter of Application. page. must have workingOne with students with diverse learning needs and abilities. Applications from ● Curriculum longer than two pages and should include details of at least three teachers with experienceVitae. in anNo independent and/or international schoolthe arecontact particularly welcome. references. One of these should be your current line manager. We will seek your permission before contacting referees.

APPLICATION ROCESS ● APrecent photo Failure to provide this information may result in application not being considered.

Interested candidates shouldallsubmit their application byyour email to sandrews@standrews.com.

Please

application as one pdf document entitled ‘Application from your name’.

save your

Please note that only shortlisted candidates will be contacted. If you have not heard from us within four weeks of making an application, please assume your application was unsuccessful.

All applications MUST include the following: The of closing date for applications ● Letter Application.

One page. is Friday, 11th October, 2019. Short listed candidates will be invited to interview at the School. ● Curriculum Vitae. No longer than two pages and should include the contact details of at least three references.

One of these should be your current line manager. We will seek your permission before No applications will be considered after the closing date. contacting referees. ● A recent photo Failure to provide all this information may result in your application not being considered.

Please note that only shortlisted candidates will be contacted. If you have not heard from us within four weeks of making an application, please assume your application was unsuccessful.

The closing date for applications is Friday, 11th October, 2019. Short listed candidates will be invited to interview at the School.

No applications will be considered after the closing date.

St Andrew’s School Business Office P.O. Box EE 17340 Nassau, The Bahamas Email: sandrews@st-andrews.com Fax: 1 242 324 0816 For more information please see the School’s website www.standrewsbahamas.com

He added that a Grand Bahama Tourist Board meeting last week said the airport’s owners were waiting for the insurance loss adjusters and structural engineers “to go in an assess how bad the damage is”.

“I haven’t seen any official statement from them,” the Pelican Bay chief said of the airport’s owners. “They and the government need to decide if they will do something temporary. You can do a terminal temporarily with tents and barracks, and that’s a decision that needs to be taken.

“We need as quickly as possible to have the ability to get commercial airlift back for Freeport. How can you try to attract manufacturing, industrials without being able to fly directly from the US to Freeport.

It’s almost impossible.”

Besides the daily flow of inbound and outbound tourism visitors, Grand Bahama International Airport has provided a vital transportation artery for the likes of the Grand Bahama Shipyard and Freeport Container Port to bring in hundreds of skilled expatriate workers on short and medium-term contracts.

While its runway is currently open to receive domestic and Dorian relief flights, the loss of the terminal buildings and associated infrastructure threatens to deal a significant blow to Freeport’s commercial revival unless rapidly resolved.

While Western Air and Bahamasair are flying domestic routes into Freeport, Mr Alnebeck said Bahamasair was “checking people in in the city and bringing them to the airport”.

“It’s going to take time to get those terminals rebuilt because they did have severe damage,” he added.

“They must have been under at least six to seven feet of water for 24 hours.

You can imagine what that does to systems, computers and luggage racks. It’s a major job to rebuild.”

The airport’s fate is also vital to the Royal Caribbean/ITM Group joint

venture’s $65m Grand Lucayan purchase and harbour redevelopment, since the stopover visitors generated by incoming US airlift will be vital to supplementing the cruise guests and filling rooms overnight.

Tribune Business understands that key participants in the Grand Lucayan negotiations, including the resort’s chairman, Michael Scott, have been exploring whether the possibility exists for the government to take over Grand Bahama International Airport.

Dorian’s devastation may have provided just such an opportunity.

“Maybe somebody should suggest they buy the airport,” Mr Alnebeck told Tribune Business of the RoyalCaribbean/ITM venture. “To me it would make sense if they’re going to operate 1,300 rooms on the island and be a major investor in the tourism industry.

“You would want maybe at least a say in that airport, and maybe they would prefer to have a government to speak to rather than another private entity.

I think that would be a wonderful idea.”

The Pelican Bay chief admitted the thought that Hutchison would not reinvest any insurance proceeds into the airport’s revival had “crossed my mind as well”. He added: “Hutchison doesn’t have a proven track record of spending insurance proceeds widely in Grand Bahama, but let’s give them the benefit of the doubt for now.

“I suggest that the government has a serious sit down with them and ask how much they really want for the airport. You have a good company operating Lynden Pindling International Airport (Nassau Airport Development Company) that maybe could be an operator of the airport in Grand Bahama as well.”

Mr Alnebeck, meanwhile, said US pre-clearance facility workers had left Grand Bahama and were unlikely to return “until they have acceptable working conditions, which is probably very far down the line” especially given the absence of international flights.

To advertise in The Tribune, contact 502-2394

THE TRIBUNE

Thursday, September 26, 2019, PAGE 5

Landfill firm hails ‘first fire free summer in decades’ FROM PAGE ONE mountains of used tyres stockpiled at its Tonique Williams Highway site.

Besides assessing the shredding and export possibilities, Mr Dean said a new weighbridge that will allow New Providence Ecology Park to assess the volume of waste going into the landfill - and enable it to charge appropriate tipping fees to users - should be installed by year-end.

He also revealed that the landfill operator had a team on Abaco investigating the amount of post-Dorian waste that needed to be cleaned up ahead of submitting a report to the government and the National Emergency Management Agency (NEMA) in the next few days.

Hinting at New Providence Ecology Park’s interest in participating in storm clean-up and waste disposal, Mr Dean argued that the company’s track record in raising finance and sourcing the necessary equipment made it a candidate to assist with the government’s plans.

“Things are progressing well,” he told Tribune Business of the company’s efforts. “We’ve been successful in suppressing fires, and it’s the first time in decades that we’ve not had a fire in the summer.

That’s a remarkable accomplishment.

“That’s the first goal and the rest will follow. If some people hold the view that it’s not happening in a timely manner, it’s something the

A PREVIOUS fire at the New Providence Landfill. general public - particularly the surrounding communities - can appreciate. We have delivered the first charge and are now preparing to go to the next level.

“Our next step would be to begin the process of converting the whole area into green space, and then using much of that garbage to convert it into a meaningful income with recycling and mulching,” Mr Dean continued.

“We are sourcing the necessary equipment, we are negotiating space, and are in discussions on where to

PM urged: Reduce the burden for GB

FROM PAGE ONE

Mr McGregor told Tribune Business.

“I’m hoping that the prime minister and his team will keep an eye on how Freeport is doing and reduce the burden on our businesses as we rebuild for the umpteenth time. I think we were just getting back after 2016 and this is obviously a huge setback.

“The fact that RoyalCaribbean/ITM still want to proceed, and Carnival wants to proceed, is good news and I hope they come to fruition as it will help dollars circulate in the economy and people to rebuild.”

Suggesting that The Bahamas may need to recognise climate change and its effects as “the new normal”, Mr McGregor added: “We’ve been hit as badly as other businesses in Grand Bahama, but we’ll find a way; we always do. We’ve done it before and will do it again.

“We have to rebuild to be even more resilient, and try and position to come back even greater next time. We took a hell of a beating with this one.”

Meanwhile, Rick Lowe, Nassau Motor Company’s (NMC) director/operations manager, told Tribune Business that the small joint venture dealership it had in Abaco with Executive Motors and Quality Auto looked as it had been placed inside “a washing

machine” due to Dorian.

“It’s a crisis. We had a little dealership in Marsh Harbour in partnership with Quality and Executive, about a mile-and-a-half from the harbour entrance on the airport road,” he revealed.

“There was water to the crown moulding of the ceiling.

“It looks like everything was in a washing machine; it’s all topsy turvy and all over the place. Everything in there was submerged in salt water. We’ve been there for a few years and it solved a need. It’s just gone.”

Mr Lowe said it was “doubtful in the near term” whether they would rebuild, as “everybody is going to be concentrating on used cars to get them by as they rebuild or when they rebuild”.

put a recycling facility. All of these things take time to make decisions on and come out of the ground. I can assure you that by the yearend we will have decided on the way forward, and come January you will see some steps being made in execution of these decisions.”

Mr Dean said New Providence Ecology Park’s “next thrust” will be to source equipment that it can purchase and own, rather than

lease, in the belief it will gain “better serviceability and efficiency in its operations”, as well as tackling the growing stockpile of used tyres at the landfill site.

Tribune Business has seen pictures of these growing piles, and Mr Dean said the landfill operator would likely shortly purchase a tyre shredding machine or two “to reduce the stockpile consistently and reduce the great risk of fire”.

He added that recycling and export opportunities appeared to be “limited” and “minimal”, but required greater investigation. The Bahamas’ tendency to rely on steelbelt tyres made progress in this area especially challenging as the steel first had to be removed from the tyres.

“We have to find a receiver on the outside to take this type of tyre from us,” Mr Dean said. “We

have begun to research if there is a use for those tyres in the US, Asia and Canada, but it all depends on the cost and if there is a market, and if there is a way to send it to the market.

“The challenge with exporting is the cost of getting it to the final destination. That’s something we have to go to the government to get support on, but that’s where we’re heading: Looking at both solutions.

We’ve taken on these challenges and have to see it through.

“It’s important the general public appreciates what we’re doing. We could go full steam and back up if we don’t get things right.

We’d rather slow it down and not miss a step. We may take some criticism for not moving fast, but we want to be comfortable that when we move we’ve covered all the ground and there are no missteps.”

Mr Dean added that New Providence Ecology Park was “on target pretty much” with its financial performance, although he did not provide details. He confirmed that the landfill operator was continuing to “renovate” the sewage pool, currently overseen by the Water & Sewerage Corporation, into which the contents of all New Providence septic tanks currently go.

PAGE 6, Thursday, September 26, 2019

THE TRIBUNE

Broker defeats its suspension FROM PAGE ONE The Securities Commission’s announcement of the initial suspension said it was due to last until yesterday, again indicating that Mr Gentile and his broker/ dealer, which employs 60 persons at its offices in Elizabeth on Bay off Bay Street, were successful in persuading the courts to overturn the regulator’s actions.

Mr Gentile has not responded to Tribune Business phone or e-mail messages for several days now, and SureTrader staff declined to comment on the situation when contacted by this newspaper.

However, a previous message on the broker/dealer’s website alleged that the Securities Commission’s concerns did not relate to its financial health and soundness. In a September 21 posting, SureTrader told clients: “We are truly for the interruption in business caused by the unexpected suspension of our licence by the Securities Commission.

“The suspension is intended to be temporary pending the resolution of a few concerns by the

Securities Commission. The Securities Commission has a meeting scheduled with the firm’s management for Tuesday, September 24, to discuss their concerns and our proposed resolutions.

“We believe that we will have a productive meeting.

The concerns expressed to us are not about the firm’s liquidity or solvency. We confirm that we are able to very easily meet our obligations. We hope to return to normalcy next week.”

Given the subsequent reference to court action, it is unclear whether the meeting with the Securities Commission took place given that the very same day SureTrader was touting the ban being lifted by “court order”.

The broker/dealer, in its latest missive, promised that it will “not charge trade commissions to our clients, and all withdrawal fees will be waived until further notice”.

It added: “All e-mails will be answered in the order received, and we ask for your patience as we work to process the backlog of requests. We do expect longer than normal wait times, but we assure you

that the team will do its best to respond to chats, emails and telephone calls throughout the entire day.

“If you were in a trade and not able to close your position during the temporary suspension, please e-mail them and the management team will review each case individually for remediation.”

The temporary suspension banned SureTrader and all its employees from dealing with client assets.

Tribune Business understands that the Securities Commission has kept Mr Gentile and his businesses under close scrutiny for some time, and this is not the first time he has had a run-in with the Bahamian regulator.

Mr Gentile and Swiss America Securities previously agreed to a $120,000 settlement with the Securities Commission in 2018 after failings were identified failings in their customer due diligence processes and record-keeping procedures.

The fines were spread over ten failings, which included not verifying client accounts; not conducting KYC and risk monitoring of clients; failing to provide

details on insurance coverage and an outsourcing agreement; and not notifying the Securities Commission of its name change.

Mr Gentile told Tribune Business at the time that all the breaches had been adequately addressed, but he has subsequently been engaged in a long-running battle with the SEC over multiple allegations that he

and Swiss America/SureTrader violated US securities laws.

While the SEC’s first effort was defeated in the US courts, it quickly came back with claims that Swiss America and Mr Gentile were breaching securities laws by acting as an unregistered broker/dealer and soliciting US clients without the necessary registration and permissions.

This was vehemently denied by Mr Gentile, but the SEC has been making progress in its bid to obtain potential evidence via subpoenas issued to one of his former attorneys and a Florida-based business.

The South Florida district court has said it is minded to grant the SEC’s subpoena enforcement requests despite resistance from the targets and Mr Gentile.

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Minimum of 3 years’ experience as a Legal Secretary;

THE TRIBUNE

Thursday, September 26, 2019, PAGE 7

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

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned.

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Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property.

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SECURITIES COMMISSION OF THE BAHAMAS JOB OPPORTUNITIES The Securities Commission of The Bahamas, a statutory agency responsible for the oversight, supervision and regulation of the investment funds, securities and the capital markets, in or from The Bahamas, as well as the supervision of financial and corporate service providers, invites applications from qualified individuals to fill the following positions: DEPUTY MANAGER Risk Analytics and Examination Department (Examinations Division) SENIOR OFFICER/APPLICATION SUPPORT/DATA ANALYST Information Technology Department APPLICATIONS:

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

Full details of the job opportunities, guidelines for the submission of applications and general information about the Securities Commission of The Bahamas may be obtained from the Commission’s website at www.scb.gov.bs under Career Opportunities. The closing date for applications is 11 October 2019.

PAGE 8, Thursday, September 26, 2019

THE TRIBUNE

An unrepentant Boris Johnson faces raucous Parliament LONDON Associated Press AN UNREPENTANT Prime Minister Boris Johnson brushed off cries of “Resign!” and dared his foes to try to topple him yesterday at a raucous session of Parliament, a day

after Britain’s highest court ruled he acted illegally in suspending the body ahead of the Brexit deadline.

Amid shouts, angry gestures and repeated cries of “Order!” in the House of Commons, Johnson emphatically defended his intention to withdraw

Britain from the European Union on Oct 31, with or without a separation agreement with the EU. “I say it is time to get Brexit done,” he declared, accusing his opponents of trying to frustrate the will of the people, who in 2016 voted 52% to 48% to leave

the 28-nation bloc.

Johnson was greeted with applause from his own Conservative lawmakers and jeers from the opposition side as he arrived in the Commons, hours after cutting short a trip to the United Nations in New York.

He flew home early after Britain’s Supreme Court unanimously ruled on Tuesday that his attempt to suspend Parliament for five weeks had the effect of stymieing its scrutiny of the government over Brexit.

The court declared the suspension void.

The leader of the main opposition Labour Party, Jeremy Corbyn, said the prime minister is not fit to govern and “should have done the honourable thing and resigned” after the ruling. He said Johnson “thinks he is above the law” and has shown “no shred of remorse or humility”.

“Have you no shame, prime minister?” said Ian Blackford, the Scottish National Party’s leader in Parliament. Labour lawmaker Jess Phillips urged Johnson “to act with some humility and contrition”.

Members of Parliament accused him of showing disrespect for the rule of law and deceiving Queen Elizabeth II when he asked for her permission to prorogue, or suspend, Parliament.

Over and over, they called on him to say he was sorry.

But Johnson ignored calls to step down or apologise, showing no sign of contrition during the more than three-hour question-andanswer session. He said he disagreed with the Supreme Court’s 11-0 ruling, and he repeatedly refused to rule out the possibility of suspending Parliament again.

The prime minister said a new election is the only way

BORIS JOHNSON to unblock Britain’s “paralysed Parliament”.

“I think the people of this country have had enough of it. This Parliament must either stand aside and let this government get Brexit done or bring a vote of confidence and finally face the day of reckoning with the voters,” he said.

A no-confidence vote could bring down his government just two months after he took office and lead to a new election.

Opposition lawmakers and some Conservative rebels have said they will back an election only if a no-deal Brexit is ruled out.

Economists have warned that leaving the EU without a deal could disrupt Britain’s trade with the Continent, plunge the country into a recession and cause shortages of food and medicine.

But Britain has been unable to negotiate a separation agreement with the EU that is acceptable to Parliament. Johnson said yesterday he still hopes to work out a deal but will pull the country out of the EU without an agreement if one isn’t reached by the deadline.

Parliament has passed a law requiring Johnson to seek a Brexit extension if there is no deal, but he has said he won’t do that under any circumstances.

He branded the law the

“Surrender Act” and the “Humiliation Bill”.

Ultimately, the prime minister hopes to contest an election in which he would paint himself as the champion of the people against a recalcitrant establishment bent on disregarding the 2016 vote to leave the EU. As yesterday’s session grew more noisy and bitter, several lawmakers urged Johnson to temper his language, saying Britain’s political climate is becoming dangerously overheated.

Pro-EU lawmakers have been branded “traitors” by some Brexit supporters, and police have investigated threats against several members of Parliament.

“The tone of the prime minister’s speech was truly shocking,” said Green Party legislator Caroline Lucas.

“This populist rhetoric is not only unfitting for a prime minister, but it is genuinely, seriously dangerous.”

Labour lawmaker Paula Sherriff implored the prime minister to stop using “pejorative language”. She brought up the killing of Jo Cox, a legislator who was slain a week before the 2016 EU referendum by an attacker shouting, “Death to traitors!”

Sharriff said many lawmakers were “subject to death threats and abuse every single day.”

THE TRIBUNE

Thursday, September 26, 2019, PAGE 9

EU WATCHES BREXIT SAGA IN BRITAIN WITH BEWILDERMENT BRUSSELS Associated Press

THREE years later, and it looks like the Brexit tables have turned.

Boris Johnson and fellow Brexiteers expected to negotiate the European Union ragged for a deal that gave the UK as many advantages of EU membership as possible after the divorce - and as few of the burdens.

When it came to Brexit, Johnson said, the British position should be was “having our cake and eating it”.

Now, after agreeing twice already to postpone the country’s pull out date, remaining EU members watch in amazement as Brexit divides Britain as much as its supporters thought privileged relations with Britain would split Europe.

“Every day brings something new,” Guy Verhofstadt, the European Parliament’s main Brexit official said wryly yesterday.

For British politicians, “it has been a steep learning curve,” German Marshall Fund senior fellow Rosa Balfour said. Poor leadership from both the main Conservative and Labour parties drove the country

EUROPEAN Parliament Brexit chief Guy Verhofstadt addresses European Parliament members during a committee about the Brexit at the European Parliament in Brussels yesterday. The European Parliament’s top Brexit official says that the British government’s proposals on how to maintain an open border on the island of Ireland do not meet the conditions necessary to force a breakthrough in the stalled negotiations between the UK and the EU. Photo: Francisco Seco/AP into a dead-end, effectively referendum on EU memallowing the EU to domi- bership, served as foreign nate Brexit negotiations so secretary in Theresa May’s far, Balfour said. government before resign“Tribal party politics pre- ing over her handling of vail, and the jury is still out Brexit, and succeeded May as to whether democratic as prime minister on July 13. institutions as a whole - ParWhile he is spending liament, Supreme Court all his political energy at - can prevent a path now home, the EU is tapping proven to be harmful for its watch as the current Britain,” she said. “Brexit Brexit deadline of Oct 31 shows that British democ- nears, noting that Johnracy needs to be upgraded.” son’s government has put Johnson was London’s no new agreement proposmayor before the UK’s 2016 als on the table to prevent a

chaotic “no-deal” Brexit.

EU parliamentary committees have been assessing the static state of play at a juncture when British and EU negotiators sparring over departure terms in the corridors of EU headquarters were supposed to be providing Brexit drama.

At the same time, Johnson was fighting for his government’s survival in London yesterday after the UK’s highest court ruled he illegally suspended Parliament.

The opposition and some Conservative colleagues

accused the prime minister of trying to shut lawmakers out of the Brexit debate in the crucial period before the Oct 31 departure date.

“It is a good thing that he has been stopped by the British system,” said Verhofstadt, echoing comments from across Europe.

However, EU leaders have stayed mum out of reluctance to wade into a member’s domestic politics and inflaming feelings antiEU sentiment.

The Supreme Court’s cancellation of the suspension

and Parliament reconvening reduced the odds of a nodeal exit, with the fortunes of the House of Commons surging and Johnson’s sagging. The EU already reached a deal with Theresa May, but lawmakers voted it down three times and precipitated her resignation.

Verhofstadt expects a briefing on technical talks for an EU-UK agreement.

But he insisted Johnson’s most recent proposals stand no chance of breaking the negotiations stalemate.

PAGE 12, Thursday, September 26, 2019

THE TRIBUNE

UN CHIEF WARNS OF A WORLD DIVIDED BETWEEN US AND CHINA UNITED NATIONS Associated Press

UN Secretary-General Antonio Guterres warned global leaders onTuesday of the looming risk of the world splitting in two, with the United States and China creating rival internets, currency, trade, financial rules “and their own zero sum geopolitical and military strategies”.

In his annual “state of the world address” to the General Assembly’s gathering of heads of state and government, Guterres said the risk “may not yet be large, but it is real”.

“We must do everything possible to avert the great fracture and maintain a universal system, a universal economy with universal respect for international law; a multipolar world with strong multilateral institutions,” he told presidents, prime ministers, monarchs and ministers from the UN’s 193 member states.

Guterres painted a grim picture of a deeply divided

and anxious planet facing a climate crisis, “the alarming possibility of armed conflict in the Gulf,” spreading terrorism, rising populism and “exploding” inequality.

His speech was followed by the traditional first speaker — Brazil, represented by its new president, Jair Bolsonaro — and the United States, represented

by President Donald Trump.

British Prime Minister Boris Johnson, who is scheduled to speak later, said he was returning to London immediately afterward, where he will face the fallout of a court ruling against his decision to shut down Parliament over the is debating the UK in the crucial countdown to the country’s withdrawal from the European Union.

The United Nations, designed to promote a multilateral world, has struggled in the face of increasing unilateralism by the US and other nations that favor going it alone.

Trump stressed in his speech that “love of our nations makes the world

better for all nations”.

“The future does not belong to globalists,” he said. “The future belongs to patriots.”

Not so, said France’s President Emmanuel Macron, who disagreed with the American president and said the world’s problems cannot be solved by turning inwards.

True patriotism, Macron said, “combines a love of one’s nation” with a multilateralism “based on real co-operation that strives to produce concrete results”.

Said Guterres: “We are living in a world of disquiet.”

“A great many people fear getting trampled, thwarted, left behind. Machines take their jobs. Traffickers take their dignity. Demagogues take their rights. Warlords take their lives. Fossil fuels take their future,” he said.

Yet, the secretary-general said people still believe in “the spirit and ideas” of the United Nations and its foundation of multilateralism, of all countries working together.

But he asked the VIP

crowd in the horseshoeshaped assembly chamber: “Do they believe leaders will put people first?”

“We, the leaders must deliver for we, the peoples,” Guterres said.

The global meeting unfolds against the backdrop of flaring tensions between Iran and Saudi Arabia, backed by its longtime ally, the United States.

The Saudis say Iran was responsible for an attack earlier this month on two oil facilities in the kingdom, which Iran denies.

The Trump administration has been engaged in an escalating series of harsh words and threats with Tehran. The US has imposed increasingly crippling sanctions.

Iranian President Hassan Rouhani was scheduled to address world leaders yesterday.

Guterres gave a dire warning about the situation in the Gulf.

“Above all, we are facing the alarming possibility of armed conflict in the Gulf, the consequences of which

the world cannot afford,” he said. “In a context where a minor miscalculation can lead to a major confrontation, we must do everything possible to push for reason and restraint.”

Trump said the US “does not seek conflict with any other nation” and desires peace, but “I will never fail to defend America’s interests.”

He called Iran “the world’s number one state sponsor of terrorism” and accused it of fueling wars in Syria and Yemen while squandering its wealth in a “fanatical quest” for nuclear weapons and the means to deliver them.

“No responsible government should subsidise Iran’s bloodlust,” Trump said, warning that as long as Iran’s “menacing behaviour” continues, US sanctions will be tightened.

Guterres also warned that “outside interference” is making peace processes more difficult. And he pointed to unresolved conflicts from Yemen to Libya, Afghanistan and beyond.

“A succession of unilateral actions threatens to torpedo a two-state solution between Israel and Palestine,” Guterres said.

“In Venezuela, four million people have fled the country — one of the largest displacements in the world.

Tensions are elevated in South Asia, where differences need to be addressed through dialogue.”

France’s Macron appealed to world leaders to bring back the “courage” to make peace, especially in the Middle East.

He urged the United States, Iran and countries in the region to resume negotiations, and the target should be that Iran never develop or acquire nuclear weapons, a solution to the conflict in Yemen, a regional security plan that includes securing navigation, and finally the lifting of economic sanctions.

Tuesday’s opening session of the so-called General Debate followed three days of meetings focusing on the growing environmental threat to the planet.

THE TRIBUNE

Thursday, September 26, 2019, PAGE 13

To advertise in The Tribune, contact 502-2394 THIS photo provided by Ford shows the 2020 Ford F-250 Super Duty.

The Super Duty trucks offer both gasoline and diesel V8 engines, and not surprisingly the diesel packs the most punch.

Edmunds examines today’s top heavy-duty pickups

By DAN FRIO Associated Press UNTIL recently, heavyduty trucks have been the reserve of ranchers, horse owners and your neighbor who owns a paving company — tough trucks for people who do tough work. But the latest heavyduty pickups deliver new heights of towing and hauling performance while also offering as many high-end features as a luxury sedan.

The 2019 and 2020 model years will be particularly appealing to truck shoppers. Ram has redesigned its heavy-duty trucks for 2019, and General Motors has redesigned its trucks for 2020. Ford, eyeing the competition, is updating its heavy-duty F-Series for 2020 as well. Highlights include more powerful engines, transmissions with up to ten forward gears, and stronger and lighter frames.

All contribute to greater towing and hauling capacities. The trucks also come with the latest technology and safety features.

Edmunds takes a look at what’s at dealerships now and in the next few months.

RAM 2500 AND 3500 Ram redesigned its heavy-duty lineup for 2019 with new styling, upgraded interiors, and a wide range of engine and transmission choices. As with its lightduty 1500 sibling, the Ram 2500’s ace card is a unique rear coil-spring suspension that creates a more comfortable ride than its competitors.

The 3500 has a traditional rear suspension design but gains substantially more towing and hauling capability.

Power comes from a gasoline V8 or an optional six-cylinder diesel engine.

People serious about towing will want the latter for its power of up to 400 horsepower and 1,000 pound-feet of torque that enables 35,100 pounds’ worth of maximum towing capacity in the 3500. On the Ram’s higher trim levels, you get access to an optional 12-inch Uconnect infotainment screen, a 360-degree surround-view parking camera system, and a tire-pressure monitoring system that can accommodate both truck and trailer tires.

FORD F-250 AND F-350 SUPER DUTY The F-250 might lack its rival Ram’s trick rear suspension, but it’s still a comfortable ride. While a little stiffer, a little bouncier and generally a bit truckier than the Ram, the F-250 can still log miles and leave you no worse for wear. The Super Duty trucks offer both gasoline and diesel V8 engines, and not surprisingly the diesel packs the most punch. The 2019

truck’s 450 horsepower and 935 pound-feet of torque can pull up to 35,000 pounds in the F-350.

Updated Super Duty trucks arrive for 2020 with a ten-speed transmission, more power for both gas and diesel engines, and more payload and towing capacities. Ford’s Pro Trailer Backup Assist feature is now available on the Super Duty. First introduced in the F-150, it helps drivers reverse with ease while towing. Another 2020 addition is an offroad-oriented package called the Tremor. Overall, an emphasis on passenger comfort and excellent power delivery make the F-250 and F-350 easy recommendations.

CHEVROLET SILVERADO 2500HD AND 3500HD The Silverado 2500 HD gets a full makeover for 2020 and gains a more powerful gasoline V8 engine and a new ten-speed automatic transmission to go along with the diesel engine that makes 445 horsepower and 910 pound-feet of torque.

Like the Ram, the Silverado also features chassis refinements. In the Chevy’s case, it’s an independent front suspension that improves steering feel and ride quality and aids in towing stability.

The Silverado comes standard with extendable towing mirrors, and an optional camera system offers up to 15 different views around the truck.

The Silverado 3500’s towing capacity is up in a big way for 2020 and stands at a maximum of 35,500 pounds.

The Chevy’s interior still looks a bit plain, even postoverhaul, but the layout is functional and rear seat room is huge. Buyers seeking more comfort can look to the Silverado’s cushier but no less capable mechanical twins, the GMC Sierra 2500HD and 3500HD. 2020 NISSAN TITAN XD The Nissan Titan XD heavy-duty also gets a major update for 2020. Details are vague, but expect a more streamlined exterior design, upgraded interior quality and more contemporary tech features. The only engine offered is likely to be a 5.6-liter V8 since Nissan plans to discontinue the XD’s optional diesel engine. Whether driven by poor sales or something else, the decision makes the next Titan XD a bit more one-dimensional.

But that might make it an excellent fit for buyers who don’t need more than 20,000 pounds of towing strength.

Factor in Nissan’s traditionally competitive pricing and the 2020 Titan XD could fill a unique niche.

EDMUNDS SAYS: If you find yourself at the hauling and towing limits of a

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No.45of 2000) In VoluntaryLiquidation Noticeis here by given that in accordance with Section 138 (4)of the International Business Companies Act, (No.45 of 2000) that RIGGlobal Select Target Fund Ltd. (IBCNo.133577 B) is in dissolution.The date of commencement of the dissolution is September 24th, 2019. Mr.Michael Andrew Frank Ingrey is the Liquidator and canbe contacted Av, Corrientes 327, Piso 6 “B”, Ciudad Autonomade Buenos Aires, 1043, Argentina.All persons having claims against the above-named company are required to send their names, addresses and particulars of their debtsor claims to the Liquidator before October 23rd, 2019.

Michael Andrew Frank In grey Liquidator

light-duty pickup, it may be time to consider a heavyduty pickup. Fortunately, today’s heavy-duty trucks are more capable, comfortable and refined than ever.

PAGE 14, Thursday, September 26, 2019

THE TRIBUNE

ASIAN STOCKS FALL AS DEMOCRATS TURN UP HEAT ON TRUMP BANGKOK Associated Press STOCKS skidded in Asia yesterday after Democrats in the US House of Representatives said they were considered launching

an impeachment probe of President Donald Trump.

Japan’s Nikkei 225 index lost 0.4% to 22,017.64 while the Shanghai Composite gave up 0.6% to 2,966.99. The Hang Seng in Hong Kong lost 1.0% to

26,031.78 and the S&P ASX 200 in Sydney slid 0.5% to 6,718.30. Shares also fell in India, Taiwan and Southeast Asia.

The losses followed declines overnight as investors’ attention swung from

headlines on trade to data showing a drop in US consumer confidence.

The Conference Board, a business research group, said its consumer confidence index fell to 125.1 in September from a revised

reading of 134.2 in August, suggesting a worrisome shift since consumer spending has underpinned the economy during a slowdown in manufacturing.

The announcement by Nancy Pelosi, speaker of the House, about a possible inquiry came after markets closed in New York. But news the Democrats were considering a probe broke earlier.

Stocks recovered somewhat after Trump said he plans to release the full transcript of a July phone call with Ukraine’s president that is at the center of the impeachment discussions.

The S&P 500 index fell 0.8% to 2,966.60. The benchmark index remains within 2% of its all-time high set in late July.

The Dow slid 0.5% to 26,807.77 and the Nasdaq lost 1.5% to 7,993.63.

Traders also turned away from smaller company stocks. The Russell 2000 index gave up 24.64 points, or 1.6%, to 1,533.61.

Trump dampened optimism over prospects for a trade deal with China that might help resolve the tariffs war with Beijing in remarks before the UN General Assembly, where he underscored the need for a fair trade pact and threatened more tariffs.

Tensions had recently eased somewhat, prompting speculation that the

next round of negotiations, in October, might at least yield an interim deal on trade.

History shows the impeachment of a president doesn’t necessarily mean disaster for the stock market, but the impeachment issue adds to the uncertainties already overhanging markets, including strife in the Middle East and Britain’s troubled exit from the European Union as well as trade frictions.

“It would be difficult for the market to ascertain how long this matter will drag and the concurrent impact upon US-China trade, which is the bigger worry at present,” Jingyi Pan of IG said in a commentary.

Still, bonds rose and pushed yields lower, suggesting investors are growing more cautious.

The yield on the ten-year Treasury was at 1.66% from 1.7% late Monday.

Benchmark crude oil fell 36 cents to $56.93 per barrel in electronic trading on the New York Mercantile Exchange. It tumbled $1.35 to settle at $57.29 a barrel on Tuesday.

Brent crude oil, the international standard, gave up 47 cents to $61.65 per barrel. It dropped $1.61 to close at $62.12 a barrel in London.

The dollar rose to 107.34 Japanese yen from 107.09 yen on Tuesday. The euro fell to $1.0998 from $1.1020.

THE TRIBUNE

Thursday, September 26, 2019, PAGE 15

US STOCKS REBOUND ON HOUSING DATA, TRUMP TRADE DEAL REMARK

By ALEX VEIGA Associated Press US stocks finished broadly higher yesterday after President Donald Trump indicated that a deal to resolve the longrunning, costly trade dispute with China could happen soon.

Trump’s remarks, in addition to a sharp increase in sales of new US homes, helped reverse an early slide for stocks.

Technology companies led the rally, which snapped a three-day losing streak for the market.

Communication services stocks and companies that rely on consumer spending also notched solid gains.

Health care stocks were the biggest loser.

The midmorning release of a rough transcript of a July phone call between Trump and Ukraine’s president that is at the center of a congressional impeachment inquiry into Trump didn’t have much of an impact on the market. That suggests traders are largely shrugging off the potential consequences the political drama might have for stocks at least for now.

“If the market really thought it was bad, it would go down and stay down, and it would be the only thing impacting the market,” said Tom Martin, senior portfolio manager at Globalt Investments.

The S&P 500 index rose 18.27 points, or 0.6%, to 2,984.87. The Dow Jones Industrial Average gained 162.94 points, or 0.6%, to 26,970.71.

The Nasdaq climbed 83.76 points, or 1.1%, to 8,077.38. The Russell 2000 index of smaller companies picked up 17.07 points, or 1.1%, to 1,550.65.

The S&P 500, Dow and Nasdaq are on track to end the third quarter with modest gains.

Stocks got off to a downbeat start yesterday as traders continued to weigh the implications of the House Democrats-led impeachment inquiry into Trump.

The S&P 500’s losses began to ease after the Commerce Department said sales of newly built US homes jumped 7.1% last month as lower interest rates helped drive sales.

The report sent homebuilder shares broadly higher. KB Home gained 3%.

Stocks continued to recover after the release of the Trump phone call transcript. The market then climbed into positive territory after Trump, speaking to reporters at the United Nations, said China wants “to make a deal very badly”, adding that “it could happen sooner than you think”.

Trump did not elaborate.

Talks between top-level officials aimed at resolving the costly trade war are expected to take place next month.

The broader market was coming off its worst day of the month, when a weak consumer confidence report, more trade war rhetoric and the start of the impeachment inquiry rattled investors.

Some analysts expressed doubts yesterday that the political drama unfolding in Washington will affect the market significantly.

“Today, while the current crisis will add to equity market instability,

we don’t think it will lead to recession or a new bear market,” Sam Stovall, chief investment strategist at CFRA, wrote in a research note.

Ryan Detrick, senior market strategist at LPL Financial, said that as long as the economy remains on firm footing, impeachmentrelated developments won’t affect the bull market’s run.

Even so, the congressional probe does add a degree of uncertainty to the market and could complicate the White House’s efforts to resolve trade disputes with China and other nations.

“The issue is if impeachment ends up being a negative or a distraction, it might hurt Trump’s hand in negotiating with the EU and with China,” Martin said.

That could further drag out the trade disputes, which have already started to have a negative impact on economies in China, Germany and the US. Chipmakers were among the big winners in the technology sector Wednesday.

Nvidia climbed 3.3% and Qualcomm rose 2.7%.

Apple, which does a lot of business in China and has much riding on the outcome of the trade war, gained 1.5%.

Citigroup rose 2.2% and Wells Fargo added 1.3% as financial sector stocks rose along with bond yields.

The yield on the 10-year Treasury rose to 1.73% from 1.63% late on Tuesday, a big move. The higher yields help banks charge more lucrative interest rates on loans.

Communication services stocks also helped lift the market out of its early malaise. Google gained 2.3% and Netflix climbed 4%, recouping some of its losses from earlier in the week.

Boeing rose 1.2% as investors applauded the company’s move to form a new safety committee as it deals with the legal and financial fallout from two deadly crashes. Uniform company Cintas climbed 5.7% after it reported a surprisingly good fiscal first-quarter profit and raised its forecast for profits and revenue.

Nike jumped 4.2% after a stellar earnings report and helped lift consumeroriented companies.

Tobacco company Philip Morris jumped 5.2% after calling off merger discussions with fellow tobacco giant Altria, which slid 0.4%.

Benchmark crude oil fell 80 cents to settle at $56.49 a barrel. Brent crude oil, the international standard, dropped 71 cents to close at $62.39 a barrel. Wholesale gasoline fell two cents to $1.63 per gallon. Heating oil declined two cents to $1.95 per gallon. Natural gas was unchanged at $2.50 per 1,000 cubic feet.

Gold fell $27.50 to $1,504.60 per ounce, silver fell 56 cents to $17.96 per ounce and copper rose one cent to $2.60 per pound.

The dollar rose to 107.81 Japanese yen from 107.05 yen on Tuesday. The euro weakened to $1.0942 from $1.1018.

Major stock indexes in Europe finished broadly lower.

NOTICE

NOTICE is hereby given that GESTINA DEVALLON of Bougainvillea Blvd., South Beach, 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, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

To advertise in The Tribune, contact 502-2394

PAGE 16, Thursday, September 26, 2019

THE TRIBUNE

Best Buy sees growth in health care technology for elderly NEW YORK Associated Press

THE nation’s largest consumer electronics chain, known for selling TV sets, cellphones and laptops, is looking to health care as a big source of its future growth.

Best Buy Co said yesterday that in five years it hopes to provide five

million seniors with health monitoring services, which can range from sensors placed throughout a home to a pendant worn around the neck. It currently provides the service to one million.

It’s part of the chain’s deeper push into the $3.5tn US health care market and essential to its goal of reaching $50bn in annual revenue by 2025.

The Minneapolis-based chain is tapping into an aging US population, noting that two out of three seniors live with two or more chronic conditions and many want to stay at home.

Best Buy is also looking to dig deeper into health care at a time when it, like other retailers, face uncertainty regarding an escalating trade war with China. Some of its core businesses, like TVs and phones sales, have been sluggish, although it says the consumer electronics business is stable.

The strategy comes as Best Buy has succeeded in holding off increasing competition from Amazon and other players by speeding up deliveries and adding more services to deepen its relationship with customers.

“This is an environment driven by constant innovation and people who need help with technology,” CEO Corie Barry said at an investor conference yesterday where executives unveiled a five-year growth plan.

Best Buy has been on buying spree of its own to boost the health care business.

In May, it acquired Critical Signal Technologies, a provider of personal emergency response systems and telehealth monitoring services for at-home seniors. In August, it acquired the predictive health care technology business of BioSensics, including the hiring of the company’s data science and engineering team. Last

year, it bought GreatCall, which provides emergency response devices for the aging.

It also hired its own chief medical officer to push those efforts: Daniel Grossman, a physician, will report to Asheesh Saksena, head of Best Buy Health.

Insurers have been paying more for remote monitoring technology to help track issues like chronic conditions and keep patients healthy and out of hospitals. That technology can include special wireless scales to monitor patients with congestive heart failure.

Saksena told investors that pendants using certain algorithms can track how a senior is walking and predict the risk of falling. He also noted that sensors on refrigerators detect how often it’s being used. That can trigger a call by GreatCall agent to see whether that person has been eating.

THE TRIBUNE

Thursday, September 26, 2019, PAGE 17

Trump: US, Japan agree on 1st stage of new trade agreement UNITED NATIONS Associated Press THE US and Japan yesterday signed a limited trade deal that will eliminate tariffs and expand market access on farm, industrial and digital products. But the deal does not address autos, a key sticking point during months of contentious negotiations, and President Donald Trump indicated the two countries were still working on a broader agreement.

Trump and Japanese Prime Minister Shinzo Abe signed the deal on the sidelines of the UN General Assembly. Trump called it the “first stage of a phenomenal new trade agreement” and described it as “outlining the significant steps we’re taking toward a fair and reciprocal trade agreement”.

“This is a big chunk, but in the fairly near future we’re going to be having a lot more comprehensive deals signed with Japan,” Trump said.

Abe said the agreement is good for both countries.

“We have successfully covered a wide range of areas, including not only the industrial goods, but also the agricultural products and also the digital trade between the two sides,” Abe said.

Trump has been seeking a bilateral agreement with Japan, the world’s third largest economy, since

preliminary deal in October or November, with tariffs reductions on US goods kicking in at the beginning of the year.

US farm groups applauded the announcement. They have been warning the Trump administration that agricultural producers could soon expect to lose market share in Japan if the United States wasn’t treated on par

PRESIDENT Donald Trump talks while meeting with Japanese Prime Minister Shinzo Abe at the InterContinental Barclay New York hotel during the United Nations General Assembly yesterday in New York.

Photo: Evan Vucci/AP pulling out of the TransPacific Partnership trade deal after he took office.

Washington would like to reduce a chronic trade imbalance that totaled $67.6bn in 2018, according to US figures The two sides reached a basic agreement in late August, but a major point of contention has been autos.

Japan is worried that Trump might slap new tariffs on its automobiles, which make up a significant amount of its exports to the US Japan also has pushed to eliminate the current 2.5% auto and auto parts tariff.

Speaking to reporters later yesterday, Abe said he received assurances

from Trump that a previous agreement not to place more tariffs on Japanese autos or auto parts still stands.

“Between President Trump and myself, this has been firmly confirmed that no further additional tariffs will be imposed,” Abe said.

United States Trade Representative Robert Lighthizer said it’s not Trump’s intention “at this point” to raise tariffs on Japanese autos. Japan’s trade minister, Isshu Sugawara, and other top trade officials are to meet with heads of Japanese automakers this morning in an apparent attempt to ease their worries.

Lighthizer said he expects that Japan will pass the

with top competitors from Canada, Mexico, Australia and the European Union.

Japan, which imports US farm products worth $14bn, is America’s third largest market.

Trump said Japan will open new markets to approximately $7bn in US agriculture products, and tariffs would “now be significantly lower or eliminated entirely” on American beef,

pork, wheat, cheese, corn, wine and more.

“This is a huge victory for America’s farmers, ranchers and growers, and that’s very important to me,” Trump said.

The deal also covers commitments on $40bn in digital trade between the countries, Trump said, “which will greatly expand commerce across cutting edge products and services.”

PAGE 18, Thursday, September 26, 2019

THE TRIBUNE

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The public is hereby advised that I, KEVIN GEORGE FORBES of Dundus, Abaco intend to change my name by Deed Poll to KEVIN GEORGE MURRAY. If there are any objections to the change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of this publication notice.

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000) ATLAS INTERNATIONAL SALES LIMITED In Voluntary liquidation “Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000).

ATLAS INTERNATIONAL SALES LIMITED, is in Dissolution.”

The date of commencement of dissolution is the 13th day of September, 2019.

Richard L. Broughton, No. 6 Bosham Close, Camperdown Heights P.O. Box SP 6380, Nassau, Bahamas Liquidator

ANNUAL GENERAL MEETING NOTICE

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

WEDNESDAY, 25 SEPTEMBER 2019

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,172.68 | CHG: 1.45 | %CHG: 0.07 | YTD: 63.23 | YTD%: 3.00 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 20.91 7.00 5.92 2.60 2.00 5.47 11.75 6.17 4.64 12.40 2.81 3.19 10.00 7.35 16.50 9.30 3.65 14.20

52WK LOW 3.50 19.17 4.90 4.46 1.00 0.19 2.00 9.17 6.15 3.60 6.75 2.35 1.76 7.51 6.10 12.10 6.20 3.01 13.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

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

PREFERENCE SHARES

1.00 10.00 1.00

1.00 10.00 1.00

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

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

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

52WK HI 2.25 4.31 2.06 191.61 158.55 1.63 1.77 1.71 1.17 8.01 9.60 6.83 11.39 12.30 10.68 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.56 1.68 1.65 1.09 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

SYMBOL LAST CLOSE AML 4.10 APD 17.43 BPF 6.00 BWL 5.92 BOB 2.46 BBL 1.80 CAB 4.80 CIB 11.06 CHL 6.16 CBL 4.00 CBB 7.20 CWCB 3.22 DHS 3.19 EMAB 10.77 FAM 7.00 FBB 16.50 FIN 9.27 FCL 3.47 JSJ 14.20 CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

MUTUAL FUNDS

MARKET TERMS

CLOSE 4.10 17.43 6.00 5.92 2.46 1.80 4.80 11.06 6.16 4.01 7.20 3.37 3.19 10.75 7.00 16.50 9.27 3.47 14.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.15 0.00 -0.02 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00

CLOSE 100.00

CHANGE 0.00

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

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

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

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

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

VOLUME

4,500

EPS$ 0.239 0.932 1.760 0.369 0.070 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.646 0.728 0.816 0.939 0.203 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

NAV 2.25 4.31 2.06 191.61 158.33 1.63 1.77 1.71 1.17 8.01 9.60 6.83 11.30 12.30 10.68 9.92 8.68 11.38

DIV$ P/E 0.160 17.2 1.260 18.7 0.000 N/M 0.250 16.0 0.000 N/M 0.020 N/M 0.000 -11.0 0.720 15.3 0.220 13.7 0.120 21.8 0.000 51.4 0.434 33.0 0.060 6.8 0.328 16.6 0.240 9.6 0.540 20.2 0.200 9.9 0.120 17.1 0.610 22.5 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0

YIELD 3.90% 7.23% 0.00% 4.22% 0.00% 1.11% 0.00% 6.51% 3.57% 2.99% 0.00% 12.88% 1.88% 3.05% 3.43% 3.27% 2.16% 3.46% 4.30% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

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

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

YTD%12 MTH% 2.15% 3.88% 1.61% 4.11% 1.53% 2.74% 3.85% 6.28% 7.12% 2.08% 1.91% 4.55% 1.45% 4.30% 1.67% 4.21% 4.75% 7.44% 7.17% 8.76% 11.07% 12.58% 3.50% 4.96% 8.92% -0.97% 5.22% 5.44% 2.95% 2.64% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%

NAV Date 31-Jul-2019 31-Jul-2019 26-Jul-2019 30-Jun-2019 30-Jun-2019 31-May-2019 31-May-2019 31-May-2019 31-May-2019 31-Aug-2019 31-Aug-2019 31-Aug-2019 31-Aug-2019 31-Aug-2019 31-Aug-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

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

Notice is hereby given that the Annual General Meeting of Benchmark (Bahamas) Ltd. will be held on Date: September 30th, 2019 Time: 6:30pm Venue: Windsor Ballroom A, British Colonial Hilton

THE TRIBUNE

Thursday, September 26, 2019, PAGE 19

Top ECB official resigns after questioning stimulus FRANKFURT Associated Press A MEMBER of the European Central Bank’s leadership has resigned after publicly questioning the need for the bank’s stimulus efforts, opening an unexpected vacancy on the institutions’ top executive body amid public criticism of its policies by some of its own officials.

Sabine Lautenschlaeger’s resignation comes amid criticism in her native Germany of the stimulus program decided by the bank under President Mario Draghi, who is to be succeeded by former IMF head Christine Lagarde Nov 1.

The ECB said in a statement yesterday that Lautenschlaeger would leave her post on the bank’s six-member executive board at the end of the month, more than two years before the end of her eightyear term. The statement did not say why she was resigning.

Still, Lautenschlaeger had questioned the need for more bond-purchase stimulus before a Sept 12 meeting, saying such extraordinary support should be reserved for use during more serious trouble. The bank decided to launch such a program at the meeting and will purchase 20 billion euros ($22b n) in government and corporate bonds per month in an effort to boost lagging inflation and growth.

The purchases drive down market interest rates in an effort to stimulate business borrowing and activity.

Lautenschlaeger is from Germany, where the ECB’s stimulus policies have been criticised for propping up less financially solid governments and depriving

that runs the bank day to day from its Frankfurt, Germany headquarter.

ECB watchers immediately started trying to interpret the change in one of Europe’s most powerful economic posts. Carsten Brzeski, chief economist for ING Germany, said

CHRISTINE LAGARDE, President-elect of the European Central Bank. savers of interest earnings.

The Bild newspaper portrayed Draghi afterward with vampire fangs and a headline that said, “Count Draghila drains our bank accounts dry.” Draghi has said that the bank’s record low interest rates and bond purchases have helped create 11 million new jobs as the eurozone rebounded from a crisis over too much government and bank debt. Eurozone growth has slowed amid uncertainty caused by the US-China trade conflict.

Although Draghi was able to produce a majority on the 25-member rate-setting council at the meeting, several members have come out against the stimulus package, including Jens Weidmann, head of Germany’s national central bank, the Bundesbank,

and Klaas Knot, head of the Netherlands central bank. Nineteen national central bank heads join the six executive board members to form the rate-setting council.

Extensive dissent by ECB board members is regarded as a hindrance to the bank successfully carrying out its policies because it can raise market doubts about whether the ECB has the unity needed to stay the course.

Two top German officials, Axel Weber and Juergen Stark, resigned from the ECB in 2011 over disagreements about stimulus policy.

Lautenschlaeger is almost certain to be replaced by a German due to an informal understanding among EU governments that Germany always has one seat on the six-member executive board

that while a reason was not given, “Lautenschlaeger has been the most vocal and often the only member of the executive board to criticize the ECB’s bond purchases.”

“While to some extent dissenting views can be seen as another step toward

becoming a mature central bank, the fact that the opposition against the last policy decision has become very vocal even after the decision shows how fragile the ECB currently is,” Brzeski said.

The ECB sets monetary policy for the 19 countries that use the euro currency.