09262022 BUSINESS

By NEIL HARTNELL Tribune Business Editor

THE Prime Minister signed three letters promising the European Union (EU) that The Bahamas would address - within the required deadline - the very concerns that have resulted in the country’s imminent ‘blacklisting’.

Tribune Business can reveal that Philip Davis KC signed three sepa rate letters over a six-week period between December 15, 2021, and January 26, 2022, pledging that The Bahamas will resolve the 27-nation bloc’s issues over “economic sub stance” and tax reporting. This comes amid accusations yesterday by the Opposition and others that the Government “dropped the ball” over a ‘blacklisting’ that was both avoida ble and foreseeable (see other article page 1B).

The Davis administration’s prom ises are detailed in a February 2, 2022, report by the Code of Con duct Group - which oversees the bloc’s so-called “international tax

co-operation” initiative - to the EU Council’s general secretariat. It discloses that it warned The Baha mas on December 13, 2021, about its concerns with several aspects of this country’s tax-related regulatory regime and called on the country to make “a political commitment” to resolve them to its satisfaction.

The Bahamas responded, accord ing to the EU report, within 48 hours by pledging to make good any defi ciencies within the required timeline. The EU appeared to take its cue from the Organisation for Economic

Co-Operation and Development (OECD), and the latter’s “harm ful tax practices forum”, given that both bodies’ tax initiatives overlap to some extent.

The EU report focused on the implementation of so-called “economic substance” laws and regu lations, which require companies to show they are doing real, legitimate business in a jurisdiction and are not merely brass plate, letterbox fronting companies acting to shield taxable assets and wealth from their home country authorities.

It thus wrote to “no or only nomi nal tax jurisdictions”, such as The Bahamas, which “failed to meet one or more of the requisite standards” in an assessment by the OECD’s forum. The standard in question was not specified, but the OECD had “urged” all countries with weak nesses to take action to address them.

“On December 13, 2021, the Group sent a letter on [these] issues to The Bahamas, requesting a commitment to address the issues identified in the assessment in due time so that

Digital asset ‘disruptors’ to shrug off EU blacklist

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BAHAMIAN account ant is voicing optimism that this country’s latest threat ened blacklisting by the European Union (EU) will have “minimal” impact on its ambitions to become a global digital assets and crypto hub.

John Bain, the HLB Galanis firm’s advisory part ner, told Tribune Business that the “rule breakers” and “disruptors” in the digital assets space are less likely to be impacted by such adversity when compared to traditional financial services because they are used to overcoming

seemingly-impossible challenges.

“Remember, the digital assets space is populated by people who are inno vators,” he said. “They’ve been pushed back before; everybody tells them it can’t be done. They’re not people who are intimi dated by that stuff; they’re pushing through the for ests. I don’t think it will affect them as much as a conservative banker or a conservative institution.

“These guys are in the IT (information technology) world. They’re innovators who are out there, break ing the rules and what people say cannot be done. They’re going against the

‘Disastrous consequences’ on water lens development

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A PROMINENT attor ney and conservationist is warning that New Provi dence residents will face “disastrous consequences” if the Government contin ues to permit development that impacts the islands’ fresh water lenses.

Pericles Maillis, in his written submissions to last week’s public Town Planning consultation on the proposed Adelaide Pines project, said the proposed mixed-use resi dential, retail, office and light industrial community raised wider issues of public

importance given that it will be built on top of a fresh water lens that is between 40-60 feet deep.

Calling for the devel oper’s Environmental Impact Assessment (EIA) to be subjected to a “peer review” by an independ ent consultant, he argued that previous fresh water resources studies by the Water & Sewerage Cor poration - which were “apparently unavailable” to Adelaide Pines’ investors“show the great south-west [New Providence] fresh water lens as being 40 to 60 feet deep and running directly under the subject wetlands”.

Lucayan chairman tight lipped on $5m deposit

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Grand Lucayan’s chairman is “moving on to November 15”, the targeted closing date for the hotel’s $100m sale, although he was tight-lipped on whether a binding sales contract has been signed and a deposit paid.

Julian Russell told Tribune Business he was “bound” by a confidential ity agreement, and could disclose few to no details on the status of negotiations

with Electra America Hos pitality Group, when this newspaper asked whether the potential buyer had paid the $5m deposit towards the purchase price as set out in the two sides’ May Memorandum of Understanding (MoU).

Also asked whether a sales agreement has now been signed, he replied: “I’m still bound by confi dentiality so that’s why I really can’t say anything. We we will be coming out with a future statement.

GRAND LUCAYAN RESORT

How information and cyber security team

Over the past five years, the increase in data breaches, ransomware, legislation and third-party requirements have compelled companies to recognise the importance of comprehensive informa tion security (infosec) and cyber security strategies. Budgets have increased significantly, resulting in high demands for secu rity, privacy and other risk professionals - from the boardroom to the front line. In parallel with the rise in the profile of cyber security and risk management lead ers, challenges have also increased while new ones have emerged. To meet these threats, a growing list of professional speci alities and technologies are required.

Ahead of Cyber Security Awareness Month (CSAM), which is held in October, this writer thought it help ful to clarify two dominant career paths often confused by boards of directors, senior management, line staff and even students alike. These are Informa tion Security Governance (ISG) versus Cyber security and InfoSec. Forbes con tributor Brandon Galarita wrote: “Confusion between infosec and cyber security can occur since much of the information we want to store, protect and transmit exists in cyber space.”

Defining ISG versus Cyber security Although the litera ture gives contrasting views on whether ISG defini tions have evolved or have remained constant, authors

explain that as part of cor porate security governance, ISG establishes what the board and executive man agement are expected to do. It also ensures they are doing it responsi bly by setting roles and responsibilities, ensuring objectives are achieved, monitoring risks and verify ing that resources are used appropriately.

On the other hand, cyber security is an assem bly of security safeguards designed to maintain the security properties of a company and an individu al’s assets in a cyberspace environment that is suscep tible to relevant security risks. That is the 2008 defi nition employed by the International Telecommu nications Union (ITU).

Exploring ISG and cyber security differences

Cyber security is con cerned with protecting information from cyber attacks, while infosec focuses on protecting data from any threats. Hence, infosec is concerned with all types of information, whereas cyber security is restricted to cyber space. Moreover, infosec attacks target unauthorised access, disclosure modification and disruption, whereas cyber security attacks involve cyber crime, cyber fraud and law enforcement. Finally, infosec profession als are the backbone of data security, while security professionals are responsi ble for policies, processes and company respon sibilities that maintain confidentiality, integrity

and availability. Meanwhile, cyber security profession als work to prevent active threats or Advanced Persis tent Threats (APTs).

Exploring ISG and Cyber security similarities

While this writer has distinguished between information security and cyber security, there will be a substantial overlap in practices. Cyber security mechanisms designed to protect sensitive data can also be considered informa tion security mechanisms.

Password-protecting a database, for example, ensures the security of the information it contains and prevents cyber attacks.

There are circumstances where both cyber and physical security must be addressed together. As an example, con sider malicious insiders.

Companies must imple ment physical controls to prevent unauthorised per sonnel from gaining access to restricted parts of the building, such as the physi cal records room or a senior employee’s office, where sensitive files may be kept.

Simultaneously, it is also important for a company to consider the cyber secu rity risks associated with records that are digitally maintained. Access con trols or data encryption are ways digital records can be protected appropriately.

Conclusion

Derek Smith By

In short, info and cyber security are terms often used interchangeably. They are the same thing in their most basic forms: Confi dentiality, integrity, and availability of informa tion. However, there are fundamental differences in practice, scope and the attacks they are supposed to combat.

NB: About Derek Smith Jr Derek Smith Jr. has been a governance, risk and com pliance professional for more than 20 years. He has held positions at a TerraLex member law firm, a Wolfs burg Group member bank and a ‘big four’ accounting firm. Mr Smith is a certi fied anti-money laundering specialist (CAMS), and the compliance officer and money laundering report ing officer (MLRO) for CG Atlantic’s family of compa nies (member of Coralisle Group) for The Bahamas and Turks & Caicos.

JITNEY DRIVERS ‘DISAPPOINTED’ OVER GAS PRICE RELIEF WAIT

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

JITNEY drivers yes terday said they were “disappointed” that the relief package promised by the Government in July to help combat high gas prices has yet to materialise.

Harrison Moxey, the United Public Transporta tion Company’s (UPTC) president, told Tribune Business: “They never let us know what the relief package was. They said the Ministry of Finance was looking at putting together a proposed package but we never received it.”

Joe-Beth Coleby-Davis, minister for transport and housing, told reporters ahead of a Cabinet meet ing in early July that the

Government would be offering unspecified relief packages to jitney drivers to help offset the rise in fuel prices. She added that details, and a final decision on what this relief would look like, were supposed to have been forthcoming during the summer. It is now autumn, and nothing has been issued yet. High fuel prices, com bined with COVID-related restrictions that capped passenger occupancy at 50 percent and the absence of a compensating fare increase, have handicapped the jitney industry since early 2020. Many driv ers either left the business or delayed putting their vehicles back on the road post-pandemic as it was unprofitable to do so.

DIGITAL ASSET ‘DISRUPTORS’ TO SHRUG OFF EU BLACKLIST

mainstream. I think any impact for digital assets will be minimal because they’re going against the mainstream. They said crypto currency couldn’t be done, they said What’s App couldn’t be done. They’re rule breakers. They’re disruptors.”

The EU’s threatened ‘blacklisting’ of The Baha mas for purportedly being non-cooperative in the fight against global tax evasion and avoidance will likely take effect in October when the 27-nation bloc’s Council meets to ratify such a move. Anguilla and the Turks & Caicos Islands, fellow Caribbean territories, are also reported to be in line for inclusion on this list. It comes just as this nation is striving to position itself as a well-regulated digital assets hub.

The Government, in a sub sequent release, confirmed that The Bahamas, which was previously ‘blacklisted’ by the EU for tax-related matters in 2018 only to then secure its removal, is likely to be added to the list come October. Territories currently blacklisted, and whom it will join, include Panama, Trinidad & Tobago, the US Virgin Islands and a host of small island Pacific states such as Fiji, Samoa, American Samoa, Vanuatu, Guam and Palau.

Mr Bain said he was “kind of surprised; I didn’t see it coming” by the EU’s threat ened action. “We’ve been blacklisted so often that the impact might be really mini mal,” he added. “What it does is that it makes credit a little bit more stringent, and it puts off potentially people that pay attention to that kind of stuff... investors coming here might not want to put their money in The Bahamas.”

Still, he questioned how big an impact the EU’s action would have on the financial services industry and wider Bahamian econ omy. Mr Bain pointed out that The Bahamas’ main correspondent banking rela tionships are with US and Canadian institutions when it comes to clearing interna tional financial transactions, rather than European ones, and the majority of our trade and commercial activities is with the US.

And, traditionally, The Bahamas’ main European contact point has been the UK, which is now no longer an EU member. “It may not be that impactful,” he added. “We’ve been blacklisted by everybody. There’s been so many; the OECD, EU, Financial Action Task Force (FATF).... all kinds of black listings. At least it’s not for money laundering or terror financing.”

Still, the EU’s imminent ‘blacklisting’ carries with it potential reputational damage and risk for The Bahamas and its financial services industry. There is also the likelihood that financial transactions involv ing Bahamas-based banks, companies and residents will be subjected to greater scrutiny by European coun terparts, increasing time and money and impacting the cost/ease of doing business.

Accessing the EU finan cial services market may also be problematic, and pressure may also be applied to Euro pean-based head offices who have banking and corporate subsidiaries located in The Bahamas. “The bigger con cern is the response from people not even in the finan cial sector,” one government insider, speaking on condi tion of anonymity because

they were not authorised to talk publicly, said yesterday. “International businesses are very skittish about being in jurisdictions without any kind of risk because they know the regulators will shine a bright spotlight on them. They may have to file additional information, go through a more rigorous audit and face additional scrutiny.”

The KPMG (Bahamas) accounting firm spelled out the consequences for The Bahamas if it failed to address the EU’s concerns in a report issues earlier this year after the nation was included on the bloc’s so-called ‘grey list’, whose members are deemed worthy of further monitoring to ensure they follow through on pledges to address pur ported deficiencies in their tax regulatory regimes.

KPMG (Bahamas) warned being ‘blacklisted’ by the EU will also result in this country’s inclusion on the national blacklists of EU member states. “What happens if The Bahamas does nothing in relation to meeting the requirements? The Bahamas will likely be added to Annex I, the list of non-cooperative jurisdic tions (i.e. blacklist),” the accounting firm wrote.

“[This] means all the known sanctions will apply to The Bahamas and enti ties doing business in and through The Bahamas. Many jurisdictions have a blacklist running in parallel, but which is linked to the EU blacklist and, therefore, The Bahamas would also be included on such lists.”

The Government on Friday confirmed that the EU’s imminent deci sion to ‘blacklist’ The Bahamas related to con cerns the bloc has over this nation’s implementation of so-called “economic sub stance” requirements and their related reporting. This requires companies to show they are doing real, legitimate business in a juris diction and are not merely brass plate, letterbox front ing companies acting to shield taxable assets and wealth from their home country authorities.

The Commercial Entities (Substance Requirements) Act 2018 requires all com panies conducting “relevant activities” to confirm they are carrying out real business in The Bahamas via annual electronic filings, and Trib une Business was told that the former Minnis adminis tration had been aware there were weaknesses with the database of information that had been reported electroni cally by local companies.

This newspaper under stands that a New Zealand company, which created the electronic portal through which these details are sub mitted, had been re-engaged by the former administra tion to make the necessary upgrades and address the EU’s concerns. However, well-placed sources have questioned whether the work was completed or brought to a conclusion under the Davis administration.

“This is an own goal,” one adviser, speaking on condi tion of anonymity, said of the EU blacklisting. “The Government knew we had to upgrade some of the database facilities for the substance reporting. In order to remedy that, they had to engage a company to the upgrades. I suspect that pro ject may have been put on pause for reasons that cannot be understood because it was mission critical.”

Another insider, also speaking on condition of confidentiality, said

the Davis administration appeared to have “basically dropped the ball”. They added: “A plan had been left in place to upgrade that substance reporting data base. There were some issues; they couldn’t do the interrogatories of that data base as they needed to. The Minnis administration had left a plan in place to do the upgrades.”

The same contacts also said the Government may have created a void in its monitoring of, and response to, international tax initia tives by the EU and OECD through dismantling the international tax unit that was created by the former Minnis administration in the Ministry of Finance. Ste phen Coakley-Wells, who headed the unit and sat on the OECD steering commit tee for harmful tax practices, left in December 2021 and it is unclear if he or the unit were replaced.

A source described Mr Coakley-Wells as The Bahamas’ main source of “intelligence” on OECD and EU plans. “He was there to do the networking and eavesdropping so we could know what their next move was going to be and pre-empt it,” they added. This newspaper was told that it was impossible to stay abreast of international tax developments without such a unit to co-ordinate the Gov ernment’s response.

Clint Watson, the Prime Minister’s press secretary, did not respond to Trib une Business questions on the “economic substance” database or international tax unit before press time last night. However, they were later picked up on by Kwasi Thompson, the Free National Movement (FNM) shadow finance minister, in a press statement.

“Why did the Govern ment disengage its lead adviser in this very techni cal area in December 2021 and essentially dismantle the special tax unit at the Minis try of Finance set up under the last administration pre cisely to monitor and handle these issues?” Mr Thompson asked.

“The former FNM administration approved enhancements to the eco nomic substance reporting system prior to the 2021 election, which this current administration was advised by the technical adviser to follow through with to ensure that The Bahamas received a favourable rating by the international taxation

standard-setters. Why did the Government not proceed with the former adminis tration’s planned upgrades which were approved by the technical staff?”

Suggesting that the EU blacklist may have been avoided if the Govern ment had acted quicker and followed through, Mr Thompson said it had not answered “why the rec ommendations that the lead technical adviser pre sented to the Government to upgrade the compliance monitoring protocols and statistical reporting systems for tax exchanges with for eign jurisdictions, which was a critical element in The

Bahamas’ assessments by the EU, along with amend ments to the substance reporting legislation, have not been completed even after being given an addi tional six months from the original deadline of March 2022....

“Why did the Govern ment not follow advice given in November of last year to meet, as a priority, with officials of the Euro pean Union when the threat of blacklisting appeared to be on the horizon and the matter required urgent political engagement at the highest levels?” Mr Thomp son continued.

“The Government must share with the industry what immediate steps will be taken to mitigate the effects of any potential defensive measures from EU member states that are likely to have an impact on European persons and companies that conduct business with or within The Bahamas, in addition to the reputational damage to the financial sector and loss of confidence in The Bahamas as a jurisdiction.

“This is most critical as being blacklisted could force companies, in particu lar banks, to face a higher compliance burden and potentially could result in them reducing or completely withdrawing their operations that are connected to The Bahamas.”

PM told three times: We’ll resolve concerns

the Forum on Harmful Tax Practices can conclude at its next meeting in 2022 that the recommendations have been addressed,” the EU report said.

“The Bahamas’ Prime Minister sent a number of letters where The Baha mas strongly commits to addressing the recommen dations received within the set deadline.” Mean while, a second issue that the EU also raised with The Bahamas was the implementation of countryby-country reporting under the OECD’s Base Erosion and Profit Shifting (BEPS) initiative.

This is an effort to pre vent multinational groups with annual turnovers of $850m or greater from avoiding/evading taxes in

the jurisdiction in which these monies are earned by shifting them, via transfer pricing or some artificially contrived transaction, to countries where they will be taxed at a lower rate.

“The Bahamas received a letter on December 13, 2021...... inviting it to make a formal political com mitment to address one recommendation issued to it by the IF (inclusive framework) in October 2021 with regard to the BEPS minimum stand ard on country-by-country reporting,” the EU report.

“The Bahamas’ authori ties sent reply letters dated December 15, 2021, Janu ary 6, 2022, and January 26, 2022, committing to the effective implementation of the BEPS minimum stand ard on country-by-country reporting within the set

deadline.” Based on the footnotes to the EU report, the three letters referred to are the same ones that were signed by the Prime Minister.

These signed commit ments by Mr Davis were deemed strong enough to merit The Bahamas avoid ing the EU’s tax ‘blacklist’ when its Council met in late February 2022, with this nation placed on its so-called ‘grey list’ of coun tries that warranted further monitoring to see if they lived up to their pledges to address these deficiencies.

Branding the Febru ary ‘grey listing’ as “a shot across the bows”, one gov ernment insider, speaking on condition of anonym ity, said this combined with the EU’s letter of nine months ago and the Prime Minister’s responses sheds

new light on events lead ing up to the 27-nation bloc’s imminent action and raises questions on whether the Government simply failed to live up to its commitments.

“This is us dropping the ball, plain and simple,” the source said. “We’ve had almost a year, 10 months’ notice and timeframe, and a ‘grey listing’. They sent a shot across the bows with the ‘grey listing’. The Gov ernment signed up to a commitment, and now it’s the end of September and we haven’t got it done. What happened?

“These aren’t surprising. These are things we knew, things we recognised had to be done. Something slipped up and fell through the cracks... We are signatories to things we signed with our eyes wide open. We signed on to these commitments.”

This newspaper yester day sent a list of detailed questions to Clint Watson, the Prime Minister’s press secretary, on the ‘black listing’. One question, referring to the Prime Min ister’s three signed letters to the EU, asked what had happened since and if the failure to follow through and execute on The Baha mas’ commitments to address the alleged defi ciencies had led to the EU action. No response was received before press dead line last night.

The Government’s Friday release only came out after an online Internet news source, Orbitax.com, reported last Thursday that The Bahamas was set to join. It also responded after Tribune Business started asking questions about the Orbitax.com

article late on Thursday night and early Friday morning last week. Ryan Pinder KC, the attorney general, had declined to comment to this newspa per prior to the release’s issuance.

The EU has form for leaking out upcoming tax ‘blacklistings’ to select financial media and web sites, and the Orbitax report appears to be no dif ferent. The Government’s statement, though, effec tively confirmed that The Bahamas’ “economic sub stance reporting” - or lack of it - is what will see the country likely reinstated on the EU’s tax ‘blacklist’ when the 27-nation bloc unveils its formal decision next month.

Referring to the Com mercial Entities (Substance Requirements) Act 2018, which requires all compa nies conducting “relevant activities” to confirm they are carrying out real busi ness in The Bahamas via annual electronic filings, the Government said: “Shortly after the general election, the Government received notice of certain deficiencies related to the implementation of [the Act] and the economic sub stance reporting that were found in the annual moni toring for 2019 and 2020.

“Our administration has worked diligently to satisfy the concerns of the Euro pean Union. However, not all deficiencies could be addressed before the deter mination of our review in April 2022. As of now, it is anticipated that the European Union will add The Bahamas to its list of non-cooperative jurisdic tions. We are committed to

closing all remaining gaps expeditiously and to seek ing a re-determination of our status in the shortest possible time.”

The same statement also revealed that the OECD has concerns with The Bahamas’ implementation of the Common Report ing Standard (CRS) and automatic exchange of tax information. The Govern ment said it was notified shortly after the September 2021 general election about the results of the OECD’s Global Forum peer review of The Bahamas, which gave the country a clean bill of health when it came to “exchanging information in an effective and timely manner”.

However, the Bahamas fared less well - and failed to meet the OECD’s require ments - when it came to its financial institutions and providers “correctly con ducting the due diligence and reporting procedures”. The Government added:

“Despite meeting the standard required in one of the two areas reviewed, the overall rating of the technical effectiveness of the implementation of the automatic exchange of information standards is anticipated to be rated as non-compliant.

“Earlier this month, a delegation from the Gov ernment of The Bahamas, inclusive of the minister for economic affairs [Michael Halkitis] and the attor ney general [Mr Pinder], and technical offic ers from both ministries attended the OECD peer review report presenta tion in Paris to advocate on behalf of The Bahamas

Dollar on the rise

By CHRIS ILLING

What a stock market week. The euro reached a new 20-year low on Friday, while the yield on the ten-year Bund tested the 2 percent mark for the first time in nine years. The euro’s exchange rate fell to $0.97, while the yield on ten-year Bunds caught on around 1.95 percent after rising to 2.01 percent at the start of trading.

The German stock market index, Dax, temporarily fell to its lowest level since November 2020 and was only quoted at 12,206 points on Friday afternoon. Many commodity prices also went down. The price of copper, for example, which is con sidered an indicator of the global economy’s health under the nickname, ‘Dr Copper’, fell another 2.3 percent to $7,453 per ton.

The Brent crude oil index fell by almost 2 percent to $88.83 per barrel. The price of gold fell to its lowest level since April 2020; at times, an ounce (31.1 grams) cost only $1,641.

The reasons are obvi ous. That at least Europe

has entered a recessionary phase is now doubted by only a few. The interest rate hikes apparently scared off many investors, in addition to the hard-to-miss signs of a downturn. No fewer than 13 central banks around the world have decided on their interest rate policy this week, many opting for rather aggressive hikes. On Thursday, America’s Federal Reserve announced it will continue to raise key inter est rates into next year.

The economic pessimism was recently confirmed by the German purchasing managers’ indices, accord ing to which that economy shrank surprisingly sharply in September. In the euro area, business was as bad as it was more than 18 months ago. The inflation figures for Germany and the euro area will be published next week.

Most financial experts expect German inflation already reached a doubledigit level in September, and is only very slightly below the euro area. According to surveys, more and more citi zens distrust the European Central Bank (ECB) and expect an inflation rate well above the promised 2 per cent in years to come.

But, on the other side of the Atlantic, the picture is almost the same. The Dow Jones Industrial Average hit a near two-year low on Friday, the first major US stock index to fall below its June trough on an intra-day basis, and marking a new low for the year following fears of an economic slump brought on by the aggressive interest rate hikes.

The euro, on the other hand, depreciates against the dollar for two reasons. First, the US Federal Reserve is likely to take even more decisive action against high inflation than the ECB. In addition, the economic risks in the euro area are higher because, unlike the US, an energy crisis threatens. The British pound fell to $1.0971, its lowest level against the dollar in 37 years. Former treasury secretary Law rence Summers criticises the economic policies being adopted by new UK prime minister, Liz Truss, saying they are creating the cir cumstances for the pound to sink past parity with the US dollar. Other stock market analysts also point to the attractiveness of the dollar as a “safe haven” against the background of an impend ing recession in Europe,

the weakening Chinese economy, and the ongoing Ukraine war. The dollar is the only game in the city right now.

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

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Equity Side 2022 No.00524

IN THE MATTER OF All. THAT piece parcel or lot of land (hereinafter referred to as the said parcel of land) containing by admeasurement Seven Thousand (7,000) Sq. Ft er thereabout being designated La: No. Fifty-four (54) in the subdivision known as "Yamacraw Beach Estates" recorded in the Department of Lands and Surveys as File No.P8/20 and situate on the eastern side of Cat Island Avenue and approximately 70 ft. south of Berry Avenue in the Eastern District of the Island of New Providence in the Commonwealth of The Bahamas. The said parcel of land is more accu rately described as follows:

Commencing at a point (hereinafter referred to as the point of origin) coordinated N 2.7@, 404.874 (m) E 268, 838.659 (m) running in a direction of N 99 ° 33' 10" for a distance of One Hundred (100 .00) Feet to a point, thence in a direction of N 189° 33' 10" for a distance of Seventy(70.00) Feet to a point, thence in a direction of N 279 ° 33' 10" for a distance of One Hundred (100.00) Feet to a point, thence in a direction of N 09° 33' 10" for a distance of Seventy{70.00) Feet to the point of origin.

The said lot of land is bounded on the North by Lot No. Fifty-three (53) of the said subdivision, which is said to be the property of Stephanie Ferguson on the EAST by Lot No. Four (4) of Yamacraw Shore Subdivision ownership which is unknown on the SOUTH by Lot No. 55 of the said subdivision. which is said to be the property of Stephen and Ladonna Hudson and on the WEST by a public road reservation known as Cat Island Avenue.

The said lot of land has such position, shape, dimensions and boundary marks as shown on plan.

AND

IN THE MATIER of the Quieting Titles Act 1959 AND

IN THE MATIER of the Petition of CANDICE DIONNE DAVIS AND PATRICIA ANN JOHNSON

NOTICE

THE PETITION OF CANDICE DIONNE DAVIS AND PATRICIA ANN JOHNSON in respect of:

IN THE MATTER OF ALL THAT piece parcel or lot of land (hereinafter referred to as the said parcel of land) containing by admeasurement Seven Thousand (7,000) Sq. Ft. or thereabout being designated Lot No. Fifty-four (54) in the subdivision known as "Yamacraw Beach Estates" recorded in the Department of Lands and Surveys as File No.P8/20 and situate on the eastern side of Cat Island Avenue and approximately 70 ft. south of Berry Avenue in the Eastern District of the Island of New Providence in the Commonwealth of The Bahamas. The said parcel of land is more accurately described as follows: Commencing at a point (hereinafter referred to as the point of origin) coordinated N 2.769, 404.874 (m) E 268, 838.659 (m) running in a direction of N 99 ° 33' 10" for a distance of One Hundred (100.00) Feet to a point, thence in a direction of N 189 ° 33' 10" for a distance of Seventy (70.00) Feet to a point, thence in a direction of N 279 ° 33' 10" for a distance of One Hundred (100.00) Feet to a point, thence in a direction of N 09° 33' 1O" for a distance of Seventy (70.00) Feet to the point of origin.

The said lot of land is bounded on the North by Lot No. Fifty-three (53) of the said subdivision, which is said to be the property of Stephanie Ferguson on the EAST by Lot No. Four (4) of Yamacraw Shore Subdivision ownership which is unknown on the SOUTH by Lot No. 55 of the said subdivision, which is said to be the property of Stephen and Ladonna Hudson and on the WEST by a public road reservation known as Cat Island Avenue. The said lot of land has such position, shape, dimensions and boundary marks as shown on plan.

CANDICE DIONNE DAVIS AND PATRICIA ANN JOHNSON claim to be the owners of the unencumbered fee simpie in possession of the said land and has made application to the Supreme Court of the Commonwealth of The Bahamas under Section 3 of the Quieting Titles Act, 1959 to have their title to the said land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act.

Copies of the Petition and Plan of the said Land may be inspected during normal office hours in the following places:

I. The Registry of the Supreme Court, Judicial Complex, Ansbacher Building, East Street North and Bank Lane in the City of Nassau, New Providence, The Bahamas; and

2. The Chambers of Clement T. Maynard & Company, Counsel & Attorneys, G.K. Symonette Building, Shirley Street, Nassau, New Providence, The Bahamas.

Notice is hereby given that any person having (dower) an interest or right to dower or an Advere Claim or a claim not recognized in the petition shall on or before the expiration of Thirty (30) days after the final publication of these presents, ftle in the Supreme Court and serve on the Petitioners of th e undersigned a Statement of his claim in the prescribed form verified by an Affidavit to be filed therewith.

Failure of any person to file and serve a Statement of his claim on or before the expiration of thirty (30) days after the final publication of these presents shall operate as a bar to such claim.

Dated the 26th day of September, A O. 2022

CLEMENTT.MAYNARD& COMPANY

Chambers G. K. Symonette Building Shirley Street Nassau, Bahamas

Qiunsel & Attorneys foe the Petitioners

PM TOLD EU THREE

TIMES: WE’LL RESOLVE CONCERNS

for a reconsideration of the report.

“While the OECD peer review group did not change the overall find ing on the effectiveness of the implementation of the automatic exchange of information standards in practice as non-compliant, there was agreement on a strategy to remedy all defi ciencies identified in the peer review report in the shortest period. We will then seek to be re-assessed in early 2023.” The OECD report has yet to be publicly released.

The previously-undis closed dispatch of Messrs Halkitis and Pinder to Paris indicates the Government was sufficiently alarmed that The Bahamas might be rated non-compliant, or ‘blacklisted’, to try and mount a major effort to head this off.

The Prime Minister him self, in a videotaped address from New York, where he was attending the United Nations (UN) general assembly, described the imminent EU ‘blacklisting’ as “another disappointment and a premature action on their part.

“Since we we took office we have been in dialogue with the powers that be in relation to some long out standing issues. We thought we would have addressed them all,” Mr Davis said, confirming that Mr Halki tis and Mr Pinder had been sent “to Brussels to ensure they understand the regime we have, and the dialogue was continuing”.

It is unclear whether the two ministers met with both the OECD and EU, or just one, because while the latter is located in the Belgian capital, the OECD - to whom the press release referred to the duo as meeting - is in Paris. The OECD and EU appear to have been referred to inter changeably, because the Prime Minister in his subse quent UN address referred to an OECD ‘blacklist’ when it is, in fact, the EU taking that action.

Nevertheless, Mr Davis said in his video message: “The challenges have always been whenever we address one issue, there seems to be something else that comes up. The goal posts are never set, they’re always moving, moving, moving. We cannot seem to get it right unless and until the decision-makers under stand the regime that we have set up here.”

Describing the actions of the EU, OECD and G-20 nations as an “assault” on The Bahamas, Mr Davis added: “It’s not been fair.... We are the most regulated, perhaps over-regulated, regime in respect to our financial industry.”

Mr Moxey yesterday said he believes the sector has been forgotten by poli cymakers as “everyone is getting their deals signed off on but us. The govern ment is even bragging about how they are signing these agreements with these vari ous groups, but not us, and we are out here still battling with the same problems we had before the pandemic that the pandemic made worse.

“I won’t say we’re going to protest; it’s just that we’re going to be making a

The Prime Minister returned to this theme before the UN, saying: “When we look at the coun tries that are flagged as high-risk and blacklisted, several startling commonal ities emerge. Why is it that European states that oper ate frameworks akin to that of high-risk or blacklisted countries are not even eli gible for inclusion on these lists? Why are all the coun tries targeted – all of them – small and vulnerable, and former colonies of Euro pean states?

“We find it astounding that the $2-$3trn which is estimated to be laun dered each year through the developed countries are never flagged as causes for concern. And yet my country, which is widely recognised as one of the best-regulated countries in the world, and other coun tries like The Bahamas, are singled-out for such reputa tional attacks?

“The robust regu latory regimes of our Central Bank, Securities Commission and Insurance Commission are chastised on minor details of tech nical process, while much bigger transgressions in the developed world are ignored. The evidence is mounting that the con siderations behind these decisions have less to do with compliance, and more to do with darker issues of pre-judged, dis criminatory perceptions. Black-governed countries also matter.”

Few would argue with Mr Davis characterising the EU’s actions as “prema ture” and “unfair”. Or that the bloc, and the likes of the OECD, G-20 and others, are employing double standards and engaged in discriminatory behav iour where ‘might is right’, using the bullying tactics of ‘naming and shaming’ and blacklisting to get their way.

Many believe the ultimate goal is to force The Baha mas and others out of the financial services business.

Yet in the latest episode, it appears that The Baha mas may have failed to deliver on the implementa tion of commitments it has already signed up to.

statement and letting them know that the suffering is still here,” Mr Moxey con tinued. “Even though fuel prices have been reduced, they’re still high, plus there is still inflation for everyone.

MATURITY 19-Oct-2022 20-Nov-2029 31-Jul-2022 31-Jul-2022 31-Mar-2022 31-Aug-2022 15-Jul-2049

“Inflation has hit every thing. A lot of things there are still crucial to our wellbeing, and so we really need some type of relief. I think we really need to look at the issue of the [fare] increases because we see everybody else getting things and we believe we deserve it as well.” 0.0700.000N/M0.00% -0.4380.000-9.0 0.1400.00073.60.00% 3.580.00 0.1840.12019.53.35% 8.255.29Colina 8.230.00 0.4490.22018.32.67% 0.7220.72022.24.50% 3.35 (0.18) 100.00100.000.00 100.00100.00BGS: 2015-1-30Y BG0230 100.00100.000.00 100.00100.00BGS: 2015-6-7Y BG0307 100.00100.000.00 100.00100.00BGS: 2015-6-30Y BG0330 100.00100.000.00 100.00100.00BGS: 2015-10-7Y BG0407 100.00100.000.00 100.66100.29BGRS FL BGRS86028 BSBGRS860289100.66100.660.00 100.03100.03BGRS BGRS99031 BSBGRS990318100.03100.030.00 101.5599.72BGRS BRS124228 BSBGR1242282101.42101.420.00 99.9599.95BGRS BGRS91032 100.57100.11BGRS BGRS95032 BSBGRS950320100.45100.450.00 100.5299.96BGRS 10.740.81%4.20% N/AN/AN/A 10.433.00%25.60% 14.897.90%48.70% 17-Apr-2033 15-Apr-2049 15-Aug-2032 25-Sep-2032 30-Sep-2025 31-Mar-2022 15-Oct-2022 29-Jul-2022 21-Apr-2050 27-Aug-2028 15-Oct-2049 31-Mar-2021 31-Jan-2022 31-Jan-2022 31-Aug-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Aug-2022 31-Aug-2022 31-Mar-2021

SUSTAINABLE TOURISM TRAINING IN EXPANSION

THE Bahamas is expand ing the Sustainable Tourism Training Programme across the Family Islands with more locations set to enter imminently.

The Ministry of Tour ism, Investments & Aviation, in a statement, said it has teamed with the Global Sustainable Tourism Council (GSTC), to host the initiative’s second phase.

Cat Island, Long Island and Grand Bahama started the first leg of this phase on 21 September, with training to end on October 3.They will be followed by Abaco and Bimini from 17-28 October.

The initiative is designed to educate and unite communities through collaboration between key tourism stakeholders and members of local commu nities, government agencies and business operators. It is part of the Ministry of Tour ism’s goal to promote more sustainable, inclusive devel opment on a national and community level.

Sandra Russell, direc tor for Family Island development, said: “Taking the STTP to additional Family Island destinations will give us the best opportu nity to advance sustainable tourism development in our islands. It will help us to progress towards increasing economic, social and envi ronmental sustainability, while contributing to job creation and promotion of local culture and products, with tourism stakeholders and community members leading the way.”

Forty persons will par ticipate in the STTP training, including industry

stakeholders, NGOs, gov ernment agencies and private citizens. The STTP aims to empower local communities to maxim ise economic benefits and create leading roles in tourism planning and management through sus tainable tourism.

The initiative will teach persons to protect envi ronmental assets, preserve cultural resources and incorporate elements of Bahamian heritage in the development and marketing of brands.

In 2021, the Ministry of Tourism joined the Global Sustainable Tourism Coun cil (GSTC), which is a non-profit organisation responsible for establishing global standards in desti nation management and promoting sustainable development of tourism worldwide. It aims to edu cate local communities on global best practices in sus tainable, community-based tourism management.

Kristal Bethel, the Min istry of Tourism’s senior director for sustainability projects, said: “The GSTC Sustainable Tourism Train ing programme explains the complex environmen tal, social and governance principles underpinning suc cessful tourism destinations in an era of climate change, and prepares communities to play a larger role in shap ing their destiny.” 502-2394 TO ADVERTISE IN THE TRIBUNE TODAY!

PUBLIC NOTICE

The Public is hereby advised that I, PAUL DELROY LEWIS of P. O. Box N-9369, #24 Clearview Heights, New Providence, Bahamas, intend to change my name to PAUL DANIEL LEWIS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, KARA SONIA LEE STURRUP of Millerton, Long Island, Bahamas, intend to change my name to KARA SONIA LEE ROLLE EL. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, STUART ANTHONY DELANCY aka STUART ANTHONY AUSTIN of the Western District of New Providence, Bahamas, intend to change my name to STUART ANTHONY DELANCY-AUSTIN. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

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

NOTICE is hereby given that KAUIANA SHANNEL DOWNER of Symonette Sreet, Chippingham, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 26th day of September, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

INTENT TO CHANGE NAME BY DEED POLL

We’re going to move on to November 15.”

That is the date, announced in Lucayan Renewal Holdings’ Friday press statement, when the final closing of the resort’s sale to Electra America is supposed to be sealed. The press release said negotia tions “remain on track” and are “progressing towards closure” although few details were provided.

“The Board of Lucayan Renewal Holdings (LRHL) advises that negotiations towards a successful deal on the Grand Lucayan resort continue to progress satis factorily,” it said. “It was announced in the first week of August in a joint state ment with Electra America Hospitality Group that the due diligence period was extended by 45 days to Sep tember 15. By virtue of this, the final closing date was also extended to November 15, 2022.....

“We anticipate that the sales process will be com pleted consistent with our revised timelines. The Board of Lucayan Renewal Holdings remains

committed to ensuring that a credible plan and shared vision for the resort is realised - a plan that will provide jobs, entrepre neurial opportunities and strengthen Grand Bahama’s economy.

“We remain on track for a successful purchase and signing of a Heads of Agreement in the best interest of the people of Grand Bahama. There are matters connected to the transaction that are still being negotiated. We look forward to briefing the public as soon as negotia tions are concluded.”

Little mention was made of the latest seven-day extension to the due dili gence period, which came to an end last Thursday, and was granted so that Electra America could assess “out standing matters” related to the sale transaction. The only reference to it by the Grand Lucayan Board was to say that the seven days did not impact the antici pated November 15 closing.

Given that the sales process is “on track” and talks with Electra America “continue to progress satis factorily”, it is unclear why

a further seven-day due dil igence period was granted or what it solved. In the absence of further details, there is growing unease in Freeport and elsewhere as to whether the $100m sale - and promised $300m rede velopment - are on course to close and ultimately take place.

Mr Russell said he was aware of the concerns, but declined to respond when they were raised by Tribune Business. “We’re hearing the same things. No, no. I’m going to stick with the press release,” he added. However, one sceptic, speaking on condition of anonymity, questioned why the Government would let negotiations “drag out” for a further two months before exploring alternatives for the Grand Lucayan.

“Let’s birth the baby and, if it’s stillborn, let’s move on,” they said. “They’re trying to avoid the bad news. The question is do they have a deposit or not. That’s it. If no deposit has been placed, there’s no deal, agreement or any thing like that. I tell people that deposits are effectively the signal as to whether

you have a ready, willing and capable buyer. It tells you they are able to pay, although they might not close. If you don’t have a deposit, you don’t have a sales agreement.”

However, Magnus Alnebeck, general manager of the nearby Pelican Bay resort, told Tribune Busi ness the release at least showed the two sides are negotiating. Noting that two of the three Grand Lucayan properties have been closed for almost six years since Memories pulled out in Hurricane Matthew’s wake, he branded buying the resort as akin to acquir ing “a used car that has not been running for many years and you don’t know what you’re going to get”.

“It’s a hotel that’s been more or less closed for six years, so it’s not an easy sell,” Mr Alnebeck said, “and then added to that is the complication of the airport. There are a lot of variables in the deal. At the same time, we have a world that’s a bit strange and not the most stable macro economic environment. It’s just hope for the best. It’s a complicated one.

“This is a destination that is not really function ing, and this [the Grand Lucayan] is the heart of the destination. My view has always been that I don’t really care how much money they get for that hotel; the $1bn lost because

it has been closed for six years is far greater than any selling price. Leave it to someone who knows what they are doing and get the deal done.

“Buying it is one thing, and figuring out how much to spend on it, and where to spend it, it’s complicated. It’s buying a used car that has not been running for many years, and it’s difficult to know what you are going to get when you start up the engine. It’s a good sign to know they are still talking to each other.”

Mr Alnebeck sug gested the two sides might have released “too much already” on the talks, as this only served to excite the public either way. How ever, Michael Scott, the former Lucayan Renewal Holdings chairman, urged persons to “read between the lines” of the Lucayan Renewal Holdings state ment, which he argued was designed to play for time and avoid having to release negative news.

Reiterating his belief that the Grand Lucayan sale and redevelopment of Grand Bahama International Air port are inextricably linked, and that no investor will spend the $300m that Elec tra is proposing without “a pathway to return on that investment” as provided by airlift through the airport, Mr Scott said: “It’s papering the file, and trying to head off any public criticism and

concerns that people like me and the Opposition will make.

“It’s a public relations waffle. They don’t give any concrete details as to what progress is being made, what are the outstanding issues. There’s no substance behind it. It’s a PR piece. There’s no meat on the bone.”

Besides the Grand Lucayan Board and Electra America closing the hotel’s sale, the purchaser will also have to negotiate a Heads of Agreement for the pro ject with the Government. Besides that document, which functions as the master agreement and sets out the broad terms and conditions of their relation ship, Electra America also has to obtain the neces sary planning/construction approvals and seal a Hotels Encouragement Act deal for its tax breaks/incentives.

Electra America’s plans involve three resort prop erties. A four to five-star branded luxury lifestyle hotel, featuring 198 rooms and 24 villas and targeted at corporate and leisure busi ness; a four-star convention hotel with 535 rooms, fea turing an amphitheatre and convention centre; and a 257-room condo-hotel style family resort with suites that are double the size of the Grand Lucayan’s exist ing rooms. Tuesday Wednesday Thursday Ht.(ft.) 8:43 a.m. 3.3 2:37 a.m. 0.5 9:00 p.m. 3.3 2:59 p.m. 0.5 9:22 a.m. 3.4 3:12 a.m. 0.4 9:38 p.m. 3.2 3:41 p.m. 0.4 10:03 a.m. 3.5 3:49 a.m. 0.3 10:19 p.m. 3.0 4:25 p.m. 0.5 10:47 a.m. 3.5 4:28 a.m. 0.3 11:04 p.m. 2.9 5:12 p.m. 0.6

Friday Saturday Sunday 11:36 a.m. 3.5 5:12 a.m. 0.4 11:54 p.m. 2.8 6:05 p.m. 0.7 12:31 p.m. 3.4 6:02 a.m. 0.5 7:04 p.m. 0.9 12:51 a.m. 2.6 7:00 a.m. 0.6 1:33 p.m. 3.3 8:09 p.m. 1.0

Mr Maillis said he ques tioned former prime minister, Dr Hubert Minnis, about what he asserted was a policy under the last administration of “pro curing and allowing the decommissioning of the remaining great fresh water lenses of New Providence which, I shall be submitting, will have disastrous conse quences for the people of New Providence in shift ing the water business to machine purified water with all the dangers of equip ment failure and rising production costs”.

He subsequently told Tribune Business that the Water & Sewerage Cor poration appeared to have “surrendered” all its fresh water lens leases back to the Government, and such land was now being “carved out or given out” for con struction and development purposes.

The well-known attorney, who will be a neighbour of Adelaide Pines if it receives the go-ahead from the plan ning authorities, added: “Fresh water reserves have been sacred from the time I joined the Bahamas National Trust and became a lawyer in the early 1970s. From time immemorial we have always been assured that those deep water lenses covered by forest would be sacred places.”

In his written statement to the Town Planning con sultation, Mr Maillis said he “formally objects” to Adelaide Pines’ “proposed design and concept which involves obliteration of the long natural geological wet land feature, which tanks up with rain and closely parallels the main Adelaide Road”. This, he added, is set to be replaced by “a man-made lake” to make way for two extra rows of houses on the develop ment’s western side and

multi-family units on the eastern end.

“Besides the very fact of the existence of this wetland as a geological fea ture, it overlays the great 40-60 foot fresh water lens and drains the surround ing water into it above and below ground. It is the recharge engine, and a haven for wildlife, as it has its own natural beauty,” Mr Maillis wrote.

“The public will never understand and, if this obliteration of our wetland were to occur, it will be a disgraceful stain on our nation and government, and its departments and agencies, and on the 50-plus or so non-governmental environmental and conser vation organisations in the country.”

Asserting that Ade laide Pines would “make a mockery” of The Baha mas’ membership in international biodiversity, wetland and sustainable development if it proceeds as presently envisaged, Mr Maillis added: “If a developer and his lawyers, engineers, architects and business advisors look at a piece of land, see a wet land like this one, sit with calculators and override the Planning and Subdivision Act, the Conservation and Protection of the Physical Landscape of The Bahamas Act and all the conserva tion ethic and teaching of the past 50 years - to add more lots - then we will save nothing......”

He called for the wetland to be left as it is, adding that the developers still pos sess 47-plus acres of hard land on which to construct “a man-made pond, but ever so carefully and more friendly than the Floridastyle quarry put housing estates”.

Besides Bahamian busi nessman Robert Myers, who is also the Organi sation for Responsible Governance’s principal,

Adelaide Pines’ developers are Lyford Cay-based bil lionaire Joe Lewis and his fellow Albany principals, plus two UK investors, the Huffmans.

Mr Myers, who previously affirmed that Adelaide Pines has already satis fied the Department of Environmental Planning and Protection’s (DEPP) concerns by obtaining its Certificate of Environ mental Clearance (CEC) eight months ago, said all questions and queries were answered by that document.

“A lot of time, effort and research went into that plan,” he told Tribune Business. “We didn’t do a ‘cut and paste’ on paper and hope it sticks. A lot of time and thought was put into this to be environmen tally conscious and do the right thing. The constructed wetland will not be like Mr Maillis put it, a quarry pit. It will be done in accordance with the environmental consultants.

“I didn’t come up with this. We took on the advice of environmental consultants and designed accordingly. That’s why we got the Certificate of Envi ronmental Clearance.... We’ve got to put our trust in that they’re [Town Plan ning] going to do the right thing and they do. They’re very good at weighing up the facts from the emotion. People are going to throw all kinds of things out. It doesn’t mean that they’re true.” DEVELOPMENT