11082022 BUSINESS

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TUESDAY, NOVEMBER 8, 2022

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CCA’s $2.4m to firm run by son of top PM adviser • Payments made at height of Baha Mar dispute • Sir Baltron says: ‘I acted with complete integrity’ • Denies any link to Notarc Group ‘at that time’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net CHINA Construction America (CCA) paid $2.4m to a company run by the son of Sir Baltron Bethel, senior policy adviser and lead Baha Mar negotiator for Perry Christie, when the dispute over the mega resort was at its peak.

The payments to Notarc Management Group, whose chief executive is Leslie

Bethel, are revealed in documents filed last Friday with the New York Supreme Court as the multi-billion dollar legal battle between CCA and Baha Mar’s original developer, Sarkis Izmirlian, resumed with a vengeance.

Both Sir Baltron and his son yesterday denied that CCA’s payments to Notarc Management Group influenced the former’s stance towards the dispute and its participants, or his advice to the Government and its actions, after Mr Izmirlian

‘I told you so’: $100m Lucayan sale collapses

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Grand Lucayan’s former chairman last night said “I told you so” after the Government admitted the resort’s $100m sale has collapsed and it is now seeking an alternative purchaser.

Michael Scott, who headed Lucayan Renewal Holdings under the former Minnis administration, told Tribune Business he had been informed several weeks ago that the deal with Electra America Hospitality Group was in trouble as its current Board begins “active discussions” with an unnamed replacement.

He accused the Davis administration of making the same mistake as its predecessor, which he served, by effectively putting the cart before the horse

• Resort board ‘in active talks’ with new buyer • Electra blames inflation, credit market woes • ‘Nobody will spend $250m without airport’

GRAND LUCAYAN

and failing to address the Dorian-devastated Grand Bahama International Airport with more than a “band aid” solution.

Asserting that regaining US pre-clearance status was key, given the need to deliver sufficient stopover visitors to guarantee the Grand Lucayan buyer a return on their investment, Mr Scott told this newspaper that “nobody is going to invest $250m (or $300m as Electra America had promised) unless they have an assurance on the airport”.

Julian Russell, the Grand Lucayan’s current chairman, promised to call back when contacted by Tribune Business but never did before press time last night. However, in a statement, Lucayan Renewal Holdings said Electra America had blamed

SEE PAGE B4

Chinese saw Baha Mar as ‘state-owned assets’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHA Mar’s Beijingowned contractor and major financier were already treating the mega resort project as “stateowned assets” prior to finally ousting Sarkis Izmirlian as the project’s developer.

Documents filed on Friday in the New York State Supreme Court, as the $2.25bn legal battle between Baha Mar’s original developer and main contractor heats up yet again, reveal how China Construction America (CCA) and the China Export-Import Bank plotted together to ensure Mr Izmirlian was removed.

The “meeting minutes” from a September 28, 2015, encounter at the China Export-Import Bank’s conference room in Beijing also raise questions over whether the process to sell Baha Mar in early 2016 was effectively a sham given that the two Chinese state-owned entities had already agreed that they would “give priority to

Chinese companies” in the search for a buyer.

True to their word, Hong Kong-headquartered Chow Tai Fook Enterprises (CTFE) was selected as the new purchaser, with all parties who entered the open bidding process run by the Deloitte & Touche receivers ultimately rejected by China ExportImport Bank, which had

SEE PAGE B5

Tourism: Concern Nicole will ‘dampen’ winter start

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ABACO’S Chamber of Commerce president yesterday voiced fears that Nicole will “dampen” vital Thanksgiving tourism business while arguing that the storm’s emergence

reinforces the need to renew the Dorian-related tax break as is.

Daphne DegregoryMiaoulis told Tribune Business the sub-tropical storm, which could pass through Grand Bahama and the northern Bahamas as a Category One hurricane, was poised to strike

“at a bad time” because Abaco was “starting to feel” the increase in tourism ahead of the peak winter season’s start that is traditionally marked

by Thanksgiving in late November.

Acknowledging that she will miss the storm because she is off-island, she added:

“For those that are left on Abaco I’m sure everyone is feeling very anxious. The reports I am getting are that people are obviously taking this very seriously.

There has been talk of possible evacuation, but I don’t know if that would

SEE PAGE B3

SIR BALTRON BETHEL

LESLIE BETHEL

filed for a Chapter 11 bankruptcy protection in summer 2015. That move ultimately proved futile and led to his ouster as the $4.2bn project’s developer.

Sir Baltron told Tribune Business he had acted “with complete integrity and objectivity” on the Government’s behalf in helping to resolve the Baha Mar controversy,

and there was no connection or interaction between himself and Notarc “at that time”. Leslie Bethel, meanwhile, asserted that claims of anything untoward over the $2.4m payments were “political mischief”, and that they were “unrelated” to anything to do with Baha Mar.

SEE PAGE B6

Nicole ‘unnecessary evil’ amid reinsurance fears

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN insurer yesterday branded subtropical Storm Nicole “an unnecessary evil we don’t need” as he voiced fears that claims payouts could be impacted by the country’s European Union (EU) blacklisting.

Anton Saunders, RoyalStar Assurance’s managing director, told Tribune Business that “we don’t need another Dorian” as he warned that German reinsurers may be forced to cut their claims payouts to Bahamian hurricane victims by 15 percent unless there is a rapid adjustment to that nation’s laws.

Three German reinsurers - Munich Re, Hanover Re and R & V Re - are among the biggest partners for Bahamian and Caribbean underwriters, but that country has enacted a law designed to deter its citizens

and companies from doing business with so-called ‘tax havens’.

Inclusion on the EU’s blacklist, as has just happened to The Bahamas, will see a nation caught

by Germany’s criteria. Mr Saunders explained to this newspaper that Germany’s new law, which takes effect from New Year’s Day 2023, could result in reinsurers having to withhold up to 15 percent of the claims payout to Nicole victims if any of these are still outstanding at that date.

Warning that The Bahamas is “running out of time” to address the issue with Germany, Mr Saunders said of Nicole: “This is something that we can’t control but don’t really need at all given the other challenges we have in this market right now. It’s an unnecessary evil that we don’t need.”

Besides the German reinsurance issue, Mr Saunders

SEE PAGE B5

PAGE 2, Tuesday, November 8, 2022

THE TRIBUNE

DON’T IGNORE RISKS POSED BY YOUR HUMAN RESOURCES T

he compliance landscape, and the needs of employees, are constantly evolving so it is no surprise that employers find cultivating an environment that meets the requirements of both extremely challenging. Though not exhaustive, the intersection of these factors equates to a human resources risk.

There are several risk frameworks that consider human resources risks.

This writer has selected the Community of Sponsoring Organisation (COSO) Framework as the one to focus on here. In COSO’s view, human resource management (HRM) is an organisational governance technique. The objective of COSO is to increase the efficiency and effectiveness of business operations, the accuracy of financial reporting, and compliance with applicable laws and regulations. Therefore, HRM policies and practices, for

By

Derek

Smith example, should enable companies to achieve their organisational objectives and goals.

As an example of the importance of human resources risks, Gresa Mjaku and Abdylmenaf Bexheti, in their academic paper entitled ‘Environment control and risk assessment as COSO framework elements, and

their impact on entity performance: a case study in the Republic of Kosovo’, demonstrated that the control environment, including culture, transparency, structure and management of human resources, had a 73 percent affect on a company’s performance.

This article, the first in a two-part series, will identify three critical human resources risks. These risks are in no way all-inclusive.

Employee health and well-being Workplace health and safety (WHS) should be one of the most risk-based functions within human resources management. The basic elements of a health and safety function involve identifying ways to monitor and manage physical and psychological risks to employees. Quantifying this risk whenever possible is an important consideration.

These measures include but are not limited to injury and illness rates, and severity

and frequency of accidents and fatalities as lag indicators of safety performance.

Lead indicators include employee safety control, co-worker safety response and safety culture.

Productivity Research supports that productivity metrics are linked to the company’s human resources.

For instance, productivity can be negatively impacted without effective project management practices, while project safety and health can be compromised.

Moreover, companies must consider the issue of presenteeism (employees who come to work when they should be absent due to illness), and the potential risks this poses to themselves and their wider workforce. In addition, ineffective company changes can adversely affect employee productivity, turnover and health and wellbeing.

Turnover in the workplace

The turnover of labour is a critical human resources risk. It has been identified as a risk that can have an adverse impact on the stability and development of an enterprise. Similar to health and safety measures, both lag and lead indicators are associated with this risk - turnover versus intent to leave and company commitment. Companies must have their pulse on the work-life balance as it can be perceived as a worklife conflict to employees who feel overworked and under-appreciated by management.

Conclusion In short, this writer’s research shows that human resource management professionals and researchers do discuss the risks and benefits of human resources practices - individual or multiple. Still, their primary focus remains on selling their value-adding capabilities. Unfortunately, human resources management

rarely discusses risk management or how appropriate ways of hiring, managing and developing employees can enhance company outcomes and mitigate operational risks.

In the second part of this series, this writer will address this under-explored environment.

Jr

NB: About Derek Smith

Derek Smith Jr. has been a governance, risk and compliance professional for more than 20 years. He has held positions at a TerraLex member law firm, a Wolfsburg Group member bank and a ‘big four’ accounting firm. Mr Smith is a certified anti-money laundering specialist (CAMS), and the compliance officer and money laundering reporting officer (MLRO) for CG Atlantic’s family of companies (member of Coralisle Group) for The Bahamas and Turks & Caicos.

Town Planning provides Adelaide Pines approval

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Town Planning Committee yesterday confirmed it has approved a $62.788m “mixed-use”

residential and light industrial development in south-west New Providence that promises to create up to 300 full-time jobs.

Keenan Johnson, the Town Planning Committee’s chairman, in a written note to Tribune Business,

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NOTICE is hereby given that GILBERTO SHENTHUREAN REYTOR MARTIN of #91b Crawford Street, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 8th day of November, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

said Adelaide Pines and its developers have been given the go-ahead. “The Board initially deferred the matter to speak with the Department of Environmental Planning and Protection (DEPP) given that most of the issues raised at the public hearing meeting were environmental in nature,” he explained.

“The DEPP confirmed that they were satisfied that the project would pose no environmental threats. The Town Planning Committee had no significant planning issues with the development and therefore agreed to approve. The matter did not take much longer than usual.”

The Town Planning Committee was initially supposed to give its decision on October 4, but undertook further consultations with the DEPP after concerns were raised over the project’s environmental impact

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at the town hall meeting with Adelaide residents.

Mr Johnson added: “We agreed at the meeting after the hearing to meet with the DEPP, which took place at the following meeting (two weeks later). The project was also approved at that meeting.”

Adelaide Pines will see Bahamian businessman Robert Myers, who is the Organisation for Responsible Governance’s (ORG) principal, partner with Lyford Cay-based billionaire Joe Lewis and his fellow Albany investors to help solve what he described as “a desperate need” for quality middle income housing in that part of the island.

The community will feature “about 180” single family lots, together with 19-25 lots for commercial and light industry, in a bid to attract businesses to the area and provide employment for residents. Located on the southern side of Adelaide Road, opposite the eastern entrance to the high-end Albany development, the project had already obtained its Certificate of Environmental Clearance (CEC) from the DEPP prior to the Town Planning Committee hearing.

Mr Myers previously told this newspaper that rejecting the proposal would “send a terrible message.. because we’ve done everything we should and then some” in developing a sustainable community that is “very environmentally sensitive”.

And he disclosed that the developers were still assessing costs and financial numbers to determine whether it “make sense” to proceed with the present concept at this time due to the global inflationary pressures that have sent construction and building materials costs soaring.

Disclosing that pricing for the lots and homes was still being worked out, Mr Myers said costs had increased “significantly” since the $68m total investment figure was calculated in January 2022. “The problem is there’s such inflation on materials,” he explained.

“Frankly, we’re hoping it makes sense because we’re fighting such inflation and supply chain problems.

We’re hoping that the market cools off. Pricing is starting to come in, and it’s very high.

“Everything is affected.

The cost of fuel, the cost of labour, the cost of materials. Everything has gone up. We’re hopeful that it makes sense once we get all the numbers. Those [the $68m] are early estimates prior to the inflation, which since January has been significant.... We had a budget there, but have been surprised already by some of the numbers coming back.

“I would tell you that it’s very challenging to get those numbers to work because of inflation, the global rise in interest rates, and fuel prices etc. The need is there. The problem with low and middle cost housing is the need is there, but it is just too damn expensive.

That’s what we’re trying to

figure out. I’m optimistic but concerned.”

The Davis administration’s National Economic Council (NEC), which is really the Cabinet or a Cabinet sub-committee, approved Adelaide Pines’ acquisition of the 64-acre parcel that will comprise the development on February 7, 2022. The necessary Investments Board permit, as required by the International Persons Landholding Act, was issued for the $4.809m purchase of the site from Terry White, the US businessman who owns New Providence Development Company.

The project was also given the go-ahead subject to meeting all the environmental and planning permitting requirements.

An NEC paper, dated January 13, 2022, reveals that Mr Myers and Albany’s corporate developer, Park Ridge Securities, are both minority investors in Adelaide Pines with equity stakes of 25 percent and 20 percent, respectively.

The 55 percent majority interest was held by NME Investments, a company beneficially owned by two UK nationals, Mark and Eric Huffman. Mark was identified as a doctor, while Eric is chief executive of a London-based financial services provider, Millennium Global Treasury Services.

Park Ridge, which was identified as being beneficially owned by Mr Lewis, worldrenowned golfer Tiger Woods, and Albany principal, Christopher Anand, holds its interest via Horizons Capital.

THE TRIBUNE

Tuesday, November 8, 2022, PAGE 3

GB business owners in Dorian flashbacks

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net GRAND Bahama business owners yesterday said sub-tropical Storm Nicole is giving them flashbacks to Hurricane Dorian’s devastating impact on the island just over three years ago.

Antoine Brooks, the Downtown Freeport Business Association (DFBA) president, told Tribune Business he feared the storm - which could strengthen into a Category One hurricane by the time it strikes Grand Bahama - would slow down to the near-stationary crawl that

was endured during Dorian in 2019.

“It’s not moving with too much speed and actually it looks like it will be over Grand Bahama for a few days. If it comes in and moves fast, then it’s alright, but when it’s moving slow that’s when it might be a problem,” he said.

“This is why I’ve been asking the Prime Minister to extend the Special Economic Recovery Zone (SERZ) Order. I know he’d said he’s going to extend it, but they are going to do it on a case-by-case basis. That’s not going to be anything good for the economy if he is doing it case-by-case.”

Under the current SERZ Order, Grand Bahama and

TOURISM: CONCERN NICOLE WILL ‘DAMPEN’ WINTER START FROM PAGE B1

be necessary at this point and where they would go at this point?

“New Providence? I don’t like being in New Providence at the best of times, especially when there is inclement weather. It’s a bit unfortunate this is happening right now for Abaco.

It’s going over us to Grand Bahama, which also doesn’t need this storm. Our hearts go out to them. We’re preparing for a Category One hurricane and hoping for the best.

“This is a bad time because we’re just now starting to feel the increase in business with Thanksgiving right around the corner.

I hope this is not going to dampen visitor bookings at a time when we need them most of all.” While hopeful that Nicole will not cause significant damage, and certainly nowhere near the same scale as Hurricane Dorian, Mrs DegregoryMiaoulis said any rebuilding would inevitably increase the cost of business.

She added that Nicole’s imminent arrival further reinforces the need to extend the existing Special Economic Recovery Zone (SERZ) Order beyond its December 1, 2022, expiry and preserve the present Hurricane Dorian-related VAT and duty tax breaks on building materials,

furniture, fixtures and appliances in their current format.

“I am really quite disappointed in the fact that the Ministry of Finance doesn’t seem to want to communicate with the business community at any level,” she added. “Just look at what happened with the pharmaceutical industry and the grocers over price controls.

“They just seem to be making decisions and not communicating, not respecting and not getting advice from the business community and responding to industries that are being impacted. That’s very discouraging and disheartening. We’d like to think the Government is working with the people, for the people, but it is not.

It is mandating rules for businesses....

“Normally, businesses are in business to make a profit.

If the Government wants to make medications more affordable, make it more affordable in government facilities. You cannot mandate to a private business what profit margin they are allowed to make especially as there are rising costs for them all around. It’s a little bit discouraging to say the least.”

Kwasi Thompson, former minister of state for finance in the Minnis administration, and MP for east

Abaco residents and businesses can walk into local stores and buy whatever supplies they need without having to go back and forth with Customs and Department of Inland Revenue for approval. “Going caseby-case won’t be beneficial to the economy because it will only lead to a few individuals getting materials.

The money won’t be spread around through the island,” Mr Brooks said.

James Rolle, Dolly Madison’s general manager, said: “We are watching Nicole very closely now. We are basically in hurricane mode and we are just making sure we have all of the hurricane supplies available. As of yesterday, we have put all of those things in motion.”

Grand Bahama, which was devastated by Hurricane Dorian and is likely to be among the areas most impacted by Nicole, said the latest tropical storm was more “evidence” to support the retention of the existing SERZ and the way its tax breaks function.

“We call to the Government to extend the SERZ Order,” he told Tribune Business. “There should be no reason why the Government should not extend it after two storms. This is only an added reason and evidence for the Government to extend it. There’s really no excuse after this storm for the Government not to extend it.”

Michael Halkitis, minister of economic affairs, has said at least twice that the Davis administration believes the current SERZ format is giving away too much in revenue. It feels that the tax breaks are being exploited by those who do not require them, especially wealthy foreign second homeowners, and that the SERZ is also being abused for tax evasion and other nefarious purposes by Bahamians living outside Grand Bahama and Abaco.

The minister has indicated, though, that a structure will be established where Abaco and Grand Bahama residents and businesses will still be able to apply for relief on a caseby-case basis. It is unclear, though, how this will work and whether it is likely to become mired in bureaucracy and red tape.

COMMONWEALTH OF THE BAHAMAS

2022

IN THE SUPREME COURT

CLE/GEN/01076

Common Law and Equity Division IN THE MATTER of the Conveyancing & Law of Property Act, Chapter 138, Statute Laws of The Commonwealth of The Bahamas AND also the Registration of Records Act, Chapter 187, Statute Laws of The Commonwealth of The Bahamas.

AND IN THE MATTER of the Indenture of Conveyance from Henry Armbrister to Elkin Collie dated the 12th day of December A.D. 1979 and recorded in the Registry of Records in Book 3278 at pages 518 to 521.

BETWEEN PERCIVAL CURTIS MALONE

Plaintiff

V JENNIFER M. EPPS

(the Surviving Executrix of the Estate of the Late Elkin Collie, a.k.a. Elkin D.Collie,a.k.a. Elkin Dorestt Collie)

To:

JENNIFER M. EPPS

Defendant

NOTICE

Pursuant to the Order of the Supreme Court in this matter dated the 27th day of October, A.D. 2022.

TAKE NOTICE that: 1. This action has been commenced in the Supreme Court against you by way of Originating Summons and supporting Affidavit both filed on the 26th day of July, A.D. 2022 and claiming the following relief: a) A Declaration that the Conveyance of ALL THAT piece parcel or lot of Land situate in the Western District of the island of New Providence being Lot Number Eight (8) in Block Number Nine (9) in a plan of Westward Villas and First and Second Addition Westward Villas located in the Western District of the Island of New Providence (hereinafter referred to as “Lot 8”) dated the 12th day of December A.D., 1979 between Henry Armbrister and Elkin Collie and recorded and recorded in Book 3278 at pages 518 to 521 be declared to be Null and Void and of no effect. b) A Declaration that as between Elkin Collie and Percival Curtis Malone, Curtis Percival Malone is the fee simple owner of Lot 8. c) That such further or other Order be made as the court may deem just. d) That the Defendant do pay the costs of this application.

2. Publication of this Notice hereby constitutes good and sufficient service of the said

2. Publication ofSummons this Notice Originating uponhereby you. constitutes good and sufficient service of the said Originating Summons upon you.

3. By the said Order the existence of further proceedings in the captioned action will be deemed to 1 3. By be theserved said Order the ofby further in the captioned action will be deemed to on you, theexistence Defendant way ofproceedings similar advertisements. be served on you, the Defendant by way of similar advertisements.

The Defendant may obtain the said Originating Summons and supporting documents from the Chambers

Cedric L. may Parker & Co.the during officeSummons hours of from Registry documents of the Supreme Bank TheofDefendant obtain said normal Originating and the supporting fromCourt, the Chambers Lane, Nassau, N.P.&The of Cedric L. Parker Co.Bahamas. during normal office hours of from the Registry of the Supreme Court, Bank Lane, Nassau, N.P. The Bahamas.

AND FURTHER TAKE NOTICE that unless you the Defendant, Jennifer M. Epps enter an appearance byFURTHER filing the same in theNOTICE Registry ofthat theunless Supreme within fourteen (14) M. daysEpps of the datean hereof the AND TAKE youCourt the Defendant, Jennifer enter appearance Court the maysame proceed in this action in absence and makewithin such Order as it(14) deems just.of the date hereof the by filing in the Registry ofyour the Supreme Court fourteen days Court may proceed in this action in your absence and make such Order as it deems just.

CEDRIC L. PARKER & CO. Chambers

CEDRICNeil’s L. PARKER Court & CO. 9 HarcourtChambers (Rusty) Bethel Drive Neil’s Nassau, TheCourt Bahamas Attorneys for theBethel Plaintiff 9 Harcourt (Rusty) Drive Nassau, The Bahamas Attorneys for the Plaintiff

Dolly Madison was closed for a full month after Hurricane Dorian hit, only reopening in October 2019 with just half the store available to the public. Mr Rolle is hoping to avoid a repeat of that, adding that Grand Bahamians appeared not to have altered their storm preparations much since 2019.

He said: “At this stage I can’t see people doing anything different because it depends on what stage of preparation they are in now. I know the notices are out there. I know hardware items will probably be the last set of things people will pick up.

“We don’t sell lumber and things like that, and if they are shopping for other items they will have to go to other stores. But I haven’t

seen any significant change in behaviour in terms of shopping at our store so far for the day.”

Mr Rolle wants sub-tropical Storm Nicole to pass by quickly if, and when, it does make landfall and not linger like Hurricane Dorian. “I get a feeling that the experience we had with Dorian has everyone alerted to the damage and danger a storm can cause. I don’t think anyone is taking it lightly,” he added.

Sub-tropical Storm Nicole has prompted hurricane, tropical storm and storm surge watches as a prolonged period of coastal flooding, beach erosion, strong winds, high surf, rip currents and heavy rain is expected in Grand Bahama and Abaco, in particular, from Tuesday onwards.

Current estimates place Nicole’s winds at 75 miles per hour (mph) within 60 hours, thus making it a Category One hurricane. A storm becomes a hurricane when sustained winds hit 74 mph. At press time, winds were at 40mph and expected to hit Grand Bahama and Abaco on Wednesday morning.

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PAGE 4, Tuesday, November 8, 2022

‘I TOLD YOU SO’: $100M LUCAYAN SALE COLLAPSES FROM PAGE B1 difficulties in obtaining the required financing for its failure to bring negotiations to a conclusion and complete the deal.

The buyer, according to the special purpose vehicle (SPV) that holds the resort on the Government’s behalf, said the prospective buyer had attributed its woes to a combination of tightened debt/credit markets and rising construction costs sparked by global inflation. As a result, the financing it would have to raise - and pay back - has increased beyond original estimates since it signed the Memorandum of Understanding (MoU) with the Government back in May. “Electra America has advised that shifting global capital markets and related inflationary pressures resulted in higher construction costs and costlier access to credit,” Lucayan Renewal Holdings said.

“Accordingly, the company had difficulty securing development financing at terms that would allow it to fully execute the vision outlined in its business plan.

“Given this, the closing deadline of November 15, 2022, is not possible and negotiations with Electra America have come to an end.” The announcement effectively means the search for a buyer who can revive Freeport and Grand Bahama’s ‘anchor’ resort property, and by extension its tourism product - especially the adjacent Port Lucaya Marketplace - continues having been sent back to square one.

In reality, the Electra America deal had been in

difficulty for some time.

The group received no less than four extensions to the initial 60-day due diligence period that was supposed to first expire at the end of June, with the last taking it to mid-November, and there were no answers to questions on whether the required $5m deposit had been paid.

The timing of the release, coming one week before the latest November 15 deadline expires, and with sub-tropical storm Nicole heading Grand Bahama’s way, suggests the Government was possibly hoping to bury or mitigate the impact of bad news with attention focused elsewhere. The $150m spent by the taxpayer to-date on maintaining and keeping the Grand Lucayan open, including the $65m purchase price, is now set to increase further.

However, seeking to offer Grand Bahama hope, Lucayan Renewal Holdings added: “The Board is currently in active discussions with a well-capitalised entity that has expressed its interest in acquiring the Grand Lucayan Resort. The entity has a vision for the property, and a track record of having recently completed notable

transactions in the hospitality space.”

Adding that the potential buyer has been vetted

by Colliers International, the global real estate firm hired to manage the Grand Lucayan’s sale, it added: “The Board of Lucayan Renewal Holdings remains committed to ensuring that a credible plan and shared vision for the Grand Lucayan is realised - a plan that will provide jobs, entrepreneurial opportunities and strengthen Grand Bahama’s economy in the best interest of the people of Grand Bahama and the entire Bahamas.

“In the meantime we will complete functional renovations to the Lighthouse Pointe buildings. We are also working with airline partners and the Ministry of Tourism to derive tangible benefits from the significantly increased airlift to Grand Bahama.

“We welcome opportunities with Bahamasair from Raleigh, North Carolina, and Florida; American Airlines from Florida and Charlotte, as well as Sunwing from Montreal and Toronto. With this boost, Lighthouse Point is forecasting steady occupancy

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levels and continues to employ approximately 140 Bahamians.”

One source, speaking on condition of anonymity, suggested the Electra America deal had been “dead” for some time but the Government was reluctant to confirm this because it would have set off “a political firestorm”.

“I think the Prime Minister has taken this over personally,” they said of the Grand Lucayan buyer search, “and sent a special emissary to two casino groups. I don’t think that emissary would have been greeted or invited if they weren’t serious.” The source added that one of the casino groups was Hard Rock.

Mr Scott, meanwhile, said of the Electra America deal’s collapse: “I predicted

it and it happened. From a government perspective, these guys are making the same mistake my guys made. You have to start at the bottom and work your way up. If you don’t have the infrastructure, all the posturing and press releases and announcements are just verbiage.

“You have to start with the airport. Nobody is going to commit $250m to an investment unless they have an assurance on the airport. They have no way of recouping the capital outlay of their investment let alone the interest and a return by way of net income. It’s not going to happen.

“When I say ‘fix the airport’ I’m not talking about a band aid. The message isn’t getting through. I thought I did a reasonable job in

THE TRIBUNE conveying to them what the problems were but that went straight in one ear and out the other.”

Mr Scott said the Minnis administration had been heavily criticised for its decision to purchase the Grand Lucayan for $65m from Hutchison Whampoa’s real estate arm in September 2018 - a move that was designed to prevent its closure and stop Freeport from suffering a second Royal Oasis.

“I have always been consistent in my position. I’ve said it repeatedly, said it to them and will say it again,” he added. “You have to deal with the infrastructure. It’s critical. There aren’t enough revenue sources from day trippers from Miami and West Palm Beach, nor can you utilise the airport as it exists with a band aid because you will never get pre-clearance back. That’s the key to the whole thing.”

THE TRIBUNE

Tuesday, November 8, 2022, PAGE 5

Nicole ‘unnecessary evil’ amid reinsurance fears FROM PAGE B1 said the Bahamian industry’s transition from a 3 percent premium tax to a Business Licence fee - as set out in the 2022-2023 Budget - remained unresolved despite negotiations having been held with the Government.

And, with Bahamian insurance premium costs already under “strain” due to reduced reinsurance capacity and higher prices, the RoyalStar chief warned this may become worse if Nicole strengthens after passing The Bahamas and inflicts significant damage on Florida’s east coast to go with what Hurricane Ian did on the west.

Mr Saunders said Nicole’s threat should serve as a wake-up call for all parties to work swiftly on addressing the Bahamian insurance industry’s existing challenges. “Dealing with the reduction in reinsurance capacity was a challenge

before this. It continues to be a challenge,” he told Tribune Business.

“We have our German reinsurance issue, we have issues with the Government and our tax share; none of those have been resolved.

We hope they will be resolved as quickly as possible and, with this (Nicole), we hope everyone understands the need to speed up discussions.”

Mr Saunders said the EU blacklisting would not prevent German reinsurers from underwriting risks in The Bahamas. Rather, he added: “If they write the business, 15 percent of the claims they pay out will be withheld by the German government. That’s a no, no. I need money to pay claims. I know the Government is trying their hardest to work on it with the Germans but time is not on our side.

“The issue becomes, if something happens and nothing changes, the

German law comes into effect on January 1, 2023, and so if there are outstanding claims and their law stays as is, then the payout for this potential hurricane will be impacted.”

Bahamian property and casualty underwriters must acquire huge amounts of reinsurance annually because their relatively thin capital bases mean they cannot cover the multibillion dollar assets at risk in this nation. The global reinsurance market has been recently been pulling back from the Caribbean due to hurricane-related losses, and the EU ‘blacklisting’ could lead to a further scaling back of coverage availability as well as demands for higher prices and terms.

Already-expensive insurance coverage, especially that which protects properties and other assets against hurricanes, would only increase further due to the cutback in

reinsurance supply. In turn, this would push premium prices beyond the reach of more Bahamian businesses and households, making insurance increasingly unaffordable in a climate where the threat posed by Dorianstyle storms is growing.

“We are making no projections on rates and capacity right now because we know both are under strain and this really adds to it,” Mr Saunders told Tribune Business of Nicole.

“We also have to remember that if this storm hits us, it ‘s going to hit Florida again.

I can guarantee you that whatever happens in The Bahamas, the damage will be worse in Florida. We get lumped in with Florida.”

Declining to make any predictions on the likely damages and insured losses from Nicole, he added: “It depends on how strong it is.

If it goes through at a Category One or less it will be minimal damage, but we anticipate at a minimum

that flooding and storm surge will probably be the greatest threat at this moment.

“If it gets stronger than that, then all bets are off.

We have all the models out and fingers crossed. These things we can’t control. We just have to prepare for it and hope for the best. We are as ready as we can be.

We have our adjusters on stand by. We have our reinsurers on stand by. Any legitimate claims out there we will pay. We can rest assured that something will get hit in The Bahamas.”

Mr Saunders said Grand Bahama and Abaco, as well as the Berry Islands and Bimini, appear to be “the most vulnerable areas”. Meanwhile, Patrick Ward, Bahamas First’s chief executive, told this newspaper that when it came to Nicole-related claims payouts “we certainly expect a lot less than Hurricane Dorian” both in terms of number and value.

Chinese saw Baha Mar as ‘state-owned assets’ FROM PAGE B1 agreed to provide $2.45bn in financing to the project when under Mr Izmirlian’s control.

The meeting, which was held just after Mr Izmirlian’s Chapter 11 bankruptcy protection bid had been rejected by the Delaware court, shows just how closely CCA and the China Export-Import Bank co-ordinated their strategy to eliminate Mr Izmirlian ahead of the “five-party discussion” on Baha Mar’s future that was to be held at then-Prime Minister Perry Christie’s offices on October 8, 2015.

The discussion, which was chaired by CCA chairman Guan Qing, and attended by the China Export-Import Bank’s president, Liu Lange, noted: “Regarding the five-party discussion on The Bahamas’ large island resort project to be held in The Bahamas on October 8, since the project owner, Baha Mar Ltd (Mr Izmirlian) has not shown a positive attitude so far, The Export-Import Bank of China and China Construction should maintain

a tough attitude and be prepared to deal with any situation that arises when the negotiation fails to reach an agreement.

“The two parties have agreed to exchange the basic conditions and bottom lines of their respective negotiations no later than October 6, Beijing time, and strive to reach a consensus.” This indicates that the two Chinese state-owned entities had pre-planned that any talks with Mr Izmirlian would fail, and were preparing the ground to take over the project via the appointment of Deloitte & Touche as receivers.

“From the perspective of protecting the project assets and avoiding the passive situation of falling into bankruptcy protection once again, China Construction suggested that the Export- Import Bank of China should appoint a receiver to take over the project as soon as possible,” the minutes stated.

“In this way, on the one hand it can actively control the key links of the project restart (such as introducing new equity investors, formulating new completion

schedule plans, etc.), and effectively protect the loans of the Export-Import Bank of China.

“On the other hand, starting from the overall situation, generally achieve the goal of maintaining the value of state-owned assets.

That is to fulfill the unfulfilled obligations of Baha Mar through the receiver, pay the arrears of the project, and protect the interests of China Construction’s $150m preferred stock. The Export-Import Bank of China said it would consider it.”

When it came to finding a replacement for Mr Izmirlian, the minutes added: “The two parties discussed several possibilities for project equity restructuring and complete liquidation, and basically believed that complete liquidation is a fundamental solution to the project’s problems, which should be actively explored and discussed.

“China Construction would co-operate with The Export-Import Bank to find other possible strategic investors to participate in the deal. The two parties agreed on the criteria for finding new strategic investors. One, guarantee that the value of the loan from the Export-Import Bank of China will not be discounted.

“Two, be able to assume the responsibility of the major shareholder of the project. Three, give priority to Chinese companies while take into account foreign companies. Four, after the deal goes through, negotiate a loan plan with a lower financing cost with The Export-Import Bank of China. The two parties have agreed to strive to complete the screening of potential investors and put forward a short list before October 8, and start contact with potential investors at the same time.”

Margaret Myers, director of the Asia and Latin

America programme at the Inter-American Dialogue think-tank, in an August 1, 2022, analysis given on Mr Izmirlian’s behalf said it was not surprising that the China Export-Import Bank had sided with CCA - rather than Mr Izmirlian - as both entities were controlled by the Beijing government.

In contrast to a conventional lender, she added that the China ExportImport Bank’s main role was to promote China’s foreign policy, economic and geo-strategic interests throughout the world. “The Baha Mar case is not an exception,” Ms Myers wrote. “China Eximbank support for the project was conditioned on the use of a Chinese company (CCA) and amid disputes among key stakeholders, the bank prioritised the interests of the Chinese company and Chinese state.”

Adding that the bank had moved to reinforce its and China’s

However, he added that the storm’s late season emergence would impact reinsurance treaty renewals that Bahamian property and casualty underwriters are currently locked in negotiations over. “It’s going to make it more complicated,” Mr Ward said.

“On the one hand we had Ian that just took place at the end of September, and here we are going into midNovember and we have another potential storm that could impact Florida as it leaves The Bahamas.

“The reality is we’re already facing a market where capacity is reduced and costs are higher. This just puts a further element of uncertainty into the whole mix. We could have said we were loss free for a third year in a row from a catastrophe standpoint but that doesn’t seem to be the case now.” “budding relationship with the Government of The Bahamas”, she added: “China Eximbank was in regular private communication, and appears to have closely collaborated with [CCA] about the project.

“Baha Mar Properties (Mr Izmirlian), though the owner and day-to-day manager of Baha Mar Ltd, the owner of the project, was apparently excluded from these discussions. In these discussions, China Eximbank and defendants referred to the project as property of the Chinese state, or ‘state-owned assets’.

“This view is supportive of what many scholars have labeled ‘China Inc’, or a model in which Chinese companies, state-owned banks, and government agencies work in concert to support China’s broader economic and policy aims.”

PAGE 6, Tuesday, November 8, 2022

THE TRIBUNE

CCA’s $2.4m to firm run by son of top PM adviser FROM PAGE B1 However, Sir Baltron admitted he NOW does have a business relationship with Notarc Management Group and his son after leaving government service following prompting

by Tribune Business. This newspaper’s online research located an entity called the Panama Development Fund, which lists Sir Baltron as its “advisory Board chairman” and Leslie Bethel as deputy chairman. The website’s ‘investors’ tab has only one link - to Notarc Management Group.

Details of the payments to Notarc Management Group are contained in a report commissioned by Mr Izmirlian, and his BML Properties vehicle, to back their allegation that CCA “misused” $54m provided to “accelerate” construction work at Baha Mar to completion. They are instead claiming that the Chinese state-owned contractor employed the monies to finance its $57m acquisition of downtown Nassau’s British Colonial resort and the land upon which The Pointe sits.

The report by Paul Pocalyko, a certified financial forensics and fraud examiner with the HKA advisory firm, reveals the Notarc payments

were made between December 2014 and January 2016.

This was a 14-month period that covered the growing dispute between Mr Izmirlian and CCA that resulted in Baha Mar’s missed March 27, 2015, construction completion deadline, the subsequent Chapter 11 filing and court battle, and the original developer’s ouster.

He addressed the issue in a section designed to show that CCA’s Bahamian subsidiary “comingled” its finances with those of its affiliates and ultimate parent, China State Construction and Engineering Company (CSCEC).

“On September 9, 2014, CCA Bahamas entered into a Memorandum of Understanding with Notarc Management Group S. A. with the stated purpose of Notarc providing bidding opportunities throughout South America, Central America, Panama and The Bahamas,” Mr Pocalyko wrote.

“Despite the purpose stated in the document, defendants (CCA executives) maintain that Notarc did not provide services to CCA Bahamas in connection with the project, but rather was engaged solely by a separate CCA affiliate, CCA Panama, to assist in

operations in Panama and Latin America.

“However, between December 2014 and January 2016, CCA Bahamas (not CCA Panama) made approximately $2.4m in payments to Notarc, and during the December 2014 through April 2015 period alone CCA Bahamas paid approximately $612,000 to Notarc. It is therefore my opinion that CCA Bahamas’ financial activities are indistinguishable from, and interchangeable with, CCA’s financial activities.”

The report broke down the $2.4m in to every single payment made by CCA Bahamas to Notarc over that 14-month period. They ranged in size from $7,164 to as high as $685,030, the latter of which was paid on October 30, 2015. “It is my understanding that payments to Notarc were made through Dion Leslie Bowe,” Mr Pocalyko wrote.

Dion Bowe is a Bahamian and Leslie Bethel’s business partner in Notarc. The Panama Development Fund website names Mr Bowe as its head of infrastructure, and a photo issued on May 18, 2022, shows himself and Mr Bethel signing an agreement with a Mediterranean Shipping Company (MSC) affiliate to take over construction of the $1.4bn

Panama Canal Container Port.

Sir Baltron, declining to comment on the Pocalyko report because he had not seen it, vehemently denied that the Notarc payments represented any form of financial impropriety, undue influence or conflict of interest. “I would have had no relationship with Notarc,” he told Tribune Business.

“I dealt simply with the facts [on Baha Mar] and certainly was not aware of any dealings with Notarc. I had no interaction with Notarc at that time. I don’t see the connection at all.” Asked by Tribune Business whether he had any links and ties to Notarc now, based on the Panama Development Fund website, Sir Baltron replied: “Yes, there is a connection now, but certainly not with anything involving Baha Mar or CCA. “I certainly did everything [involving Baha Mar] with complete integrity and objectivity in that matter...

I had no relationship with Notarc at that time, and certainly not in this jurisdiction and elsewhere.” However, Sir Baltron did not answer whether he had benefited from the CCA payments to Notarc after leaving the Government following the 2017 general election.

Leslie Bethel was equally emphatic and dismissive in his denials of any wrongdoing relating the CCA’s Notarc payments. “You have clearly articulated what the commercial relationship was or is or had been with CCA,” he told Tribune Business. “It was for services unrelated to Baha Mar; it was for services related to activities we remain engaged in down in Latin America.

“The agreement between Notarc, our Latin American division and CCA was for commercial matters unrelated to Baha Mar. It’s that simple. There’s nothing further to comment on. The Baha Mar situation is much larger than any one of us as entities or individuals.

“We pride ourselves in doing professional work.

We have been in business for many decades, and will continue to engage in sound business and continue to invest in business activity across the region as we have been doing.”

Notarc’s website describes the company as “a global advisory, investment and management consulting firm headquartered in The Americas, with worldwide offices and subsidiaries in The Bahamas, US, Panama, UK, Europe and the Middle East”. In its May 2022 release on the MSC tie-up, Leslie Bethel was described as its chief executive and Mr Bowe as chief executive of Notarc Port Investment LLC, which appears to be an affiliate.

The Baha Mar dispute, though, is not the first time that Leslie Bethel and Notarc have been drawn into controversy. He was forced some nine years ago, in late 2013, to deny that

his family ties to Sir Baltron represented a conflict of interest involving prospective investment deals in The Bahamas.

The concerns were sparked after photographs of a London dinner meeting were published, showing both Sir Baltron and Leslie Bethel - as well as Mr Bowe - with then-prime minister Perry Christie outside the five-star Savoy Hotel in the Strand, London.

Mr Christie said upon his return to The Bahamas that Leslie Bethel had “extensive corporate connections” with Dubai, and had introduced him to a “very, very influential corporate personality” who was in talks with the Ministry of Tourism for a small luxury cruise ship to operate within the Family Islands.

Leslie Bethel refuted the concerns then as “politically motivated or that of special interests”.

Meanwhile, the Panama Development Fund website reveals that another highlevel Christie administration adviser is part of its “team”.

That is Deepak Bhatnagar, an accountant, who acted as the then-prime minister’s guru when it came to numbers and financial figures.

He is named as the fund’s head of energy and renewables for Latin America and the Caribbean.

Sir Baltron and Mr Bhatnagar often worked closely together. Under the first Christie administration, the duo served as deputy chair and managing director, and chief financial officer respectively, of the Hotel Corporation of The Bahamas.

NOTICE

NOTICE is hereby given that JEAN JESUNORD BIENAIME of Malcolm Road, Winter Terrace, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 1st day of November, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

MARKET REPORT www.bisxbahamas.com

MONDAY, 7 NOVEMBER 2022

BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 7.00 53.00 2.76 2.46 2.85 6.20 10.05 4.34 10.65 3.65 8.51 17.50 3.25 11.28 11.67 11.50 18.30 4.00 11.50 16.50

52WK LOW 5.30 40.00 1.60 2.20 2.19 5.75 8.78 2.82 7.50 2.27 6.01 10.25 1.99 9.25 9.16 10.00 14.05 3.50 9.50 15.50

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

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00

1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 1.00

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 9 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

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

52WK LOW 100.00 100.00

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

CLOSE

CHANGE

%CHANGE

YTD

YTD%

2625.44

-0.18

-0.01

397.20

17.83

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB9 CHLA FBBA FCLB SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.27 100.24 99.95 99.95 100.57 100.52 100.00 100.00 100.98 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.30 99.95 100.11 99.96 89.62 89.00 90.24 90.73

MUTUAL FUNDS 52WK HI 2.55 4.83 2.24 207.86 212.41 1.75 1.91 1.87 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.70 1.76 1.77 0.96 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FL BGRS68023 BGRS FL BGRS76024 BGRS FX BGR142251 BGRS FL BGRS91032 BGRS FL BGRS95032 BGRS FL BGRS97033 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGRS680232 BSBGRS760240 BSBGR1420516 BSBGRS910324 BSBGRS950320 BSBGRS970336 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504

LAST CLOSE 6.95 39.95 2.76 2.46 2.85 6.20 8.78 3.95 10.25 3.49 8.50 16.00 3.76 10.50 9.04 10.85 18.10 3.98 11.38 15.50 1.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.95 99.95 100.45 100.19 89.62 100.00 100.00 100.00

CLOSE 6.95 39.95 2.76 2.46 2.85 6.20 8.78 3.95 10.25 3.49 8.50 16.00 3.70 10.50 8.88 10.85 18.10 3.98 11.38 15.50 1.00 1000.00 1000.00 1.00 10.00 1.00

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

0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.95 99.95 100.45 100.19 89.62 100.00 100.00 100.00

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 0.00 0.00 0.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

MARKET TERMS

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.06) 0.00 (0.16) 0.00 0.00 0.00 0.00 0.00

(242) 323-2330 (242) 323-2320 EPS$ 0.239 0.932 0.000 0.140 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.080 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000

INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.63% 4.50% 6.40% 4.37% 4.31% 4.31% 5.55% 5.60% 5.65% 5.69%

NAV 2.55 4.83 2.24 197.44 202.39 1.75 1.91 1.87 0.96 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89

YTD% 12 MTH% 2.24% 4.01% 3.42% 7.26% 1.70% 2.82% -2.97% -2.35% -4.72% 6.04% 1.96% 2.84% 4.83% 7.23% 3.48% 4.44% -6.57% -8.29% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%

P/E 29.1 42.9 N/M 17.6 N/M N/M 23.8 -9.0 73.2 19.0 18.9 22.2 36.3 22.5 13.7 14.9 22.2 19.6 12.1 24.6 0.000 0.000 0.000 0.000 0.000 0.000

YIELD 2.45% 3.15% 0.72% 3.25% 0.00% 0.00% 2.96% 0.00% 0.00% 3.44% 2.59% 4.50% 11.73% 0.57% 3.69% 2.21% 2.98% 3.02% 1.76% 3.94% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 21-Jul-2023 18-Jan-2024 15-Feb-2051 15-Aug-2032 25-Sep-2032 17-Apr-2033 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050

NAV Date 31-Jul-2022 31-Jul-2022 29-Jul-2022 31-Mar-2022 31-Mar-2022 31-Aug-2022 31-Aug-2022 31-Aug-2022 31-Aug-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021

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 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

NOTICE

NOTICE is hereby given that YANARA MARTIN RODRIGUEZ FERGUSON of #91b Crawford Street, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of November, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SANVANO FRANCIS of Queen’s Highway, Wemyss Bight, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 8th day of November, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that YONEL PAUL of P.O. Box GT-2869, Fire Trail Road, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of November, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PAGE 8, Tuesday, November 8, 2022

THE TRIBUNE

BODY AND MIND

Tumour survivor advocates for more attention to be paid to brain health

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

Ten years ago, Ivoine Ingraham underwent surgery to have a brain tumour the size of a grapefruit removed. The procedure was a success and he was completely healed. Today, he feels like he was given a new lease on life, and he is advocating for more attention to be be placed on the brain and related health matters.

On September 17, 2012, Mr Ingraham “went under the knife” to have a pituitary tumour removed. Unbeknownst to him, the tumour had been developing for years, with symptoms that could be mistaken for a bad night’s rest or tension.

He experienced stiffness in his neck and migraine headaches, as well as worsening eye sight.

Mr Ingraham didn’t realise something was seriously wrong until he began losing his sight. He got a CT scan which showed the tumour in the pituitary gland – the major endocrine gland attached to the base of the brain that is important in controlling growth and development, as well as the balance of hormones in the body.

At that point, the tumour had grown very large and Mr Ingraham was advised by Dr Magnus Ekedede, the country’s leading neurosurgeon, on the best possible options to save his life.

The necessary bi-coronal subfrontal cerebellum surgery is usually a successful one. However, Dr Ekedede told this newspaper 10 years ago that the procedure is very difficult to perform. He said this type of operation can only be conducted by the fittest surgeons, those who are very careful and have a vast knowledge of the brain. If the gland is damaged it can lose its function.

And even with his remarkable list of medical breakthroughs – separating conjoined twins, performing the first lobotomy in the Bahamas – Dr Ekedede said he considered the success of Mr Ingraham’s operation a miracle.

“What (Dr Ekedede) said prior to the surgery was that it can be very unpredictable,” Mr Ingraham told Tribune Health.

“He said you never know what you are going to meet and sometimes there may be some challenges after the surgery.

There is also no guarantee that the surgery would be successful

PORTIA INGRAHAM, Dr Magnus Ekedede and Ivoine Ingraham

100 percent, or successful at all because of the nature of the surgery and where the tumour is located. He tried to prepare me, but my mind was already made up. I had a peace about it in my spirit and that was all the mattered.”

Since the high-risk surgery, Mr Ingraham has been in “tip top shape”, enjoying his best health.

He only wishes there more could be done in the Bahamas to create continued awareness of brain and related health conditions.

Mr Ingraham said he has become militant over the years in ensuring that he does the right things to protect his health.

“After the surgery I had less tolerance for negativity. I do not waste words. I do not have conversations that are meaningless, and if I have to say something, I am laser focused and laser sharp,” he said.

“I became more appreciative of life, more respectful of others.

However, I don’t let people get near me with negative talk. I think it will contaminate my brain and put it back in the same place it was. Human life is very important to me. I don’t gamble on anything to do with my body.”

Mr Ingraham is calling for stakeholders to put more emphasis on brain health.

“Mental health happens upstairs in your head. A lot of people do not pay attention to that; they ignore it. They don’t value the brain as much as they value their heart, or the lungs or kidneys, bladder or other parts of the body. The brain is the engine that runs the whole body,” he said.

“We would quickly ignore a family member who has something going on in their head. We dismiss what is going on in our head, we don’t go to the doctor.

If someone has a pain in their

IVOINE Ingraham shows the scar from his surgery.

stomach, they run to the doctor and try to get some kind of painkillers. But if someone starts acting strange or saying some strange things that are unusual or unorthodox, they don’t take it seriously. They don’t give it the attention it deserves.”

Mr Ingraham said coming out on the other side of the surgery healed and with no after effects has made him value his health more than ever.

“I have a new lease on life and I am very serious about anything to do with what is going on in your head, which includes the brain itself and the behaviour of it. A

large percentage of Bahamians are totally ignorant to how serious it is when your brain isn’t functioning as it should.”

He continued: “Not enough attention is being paid to mental health. It is not being given the attention that it should. There cannot be a sandwich approach to the brain and mental health.

There has to be a banquet approach....a smorgasbord approach to these issues.”

As for Mr Ingraham, he will continue to take care of his brain while encouraging others to do the same.

Pfizer study says updated COVID boosters rev up protection

By LAURAN NEERGAARD AP Medical Writer Pfizer’s updated COVID-19 booster significantly revved up adults’ virus-fighting antibodies, the company said last Friday, releasing early findings from a rigorous study of the new shots.

Booster doses tweaked to target the most common omicron strain rolled out in early September, and the Food and Drug Administration (FDA) said the latest data should spur more Americans to get one — especially before another expected wave of cases as people travel for Thanksgiving.

Pfizer said people 55 and older who got the omicron-targeting booster had four-fold higher antibody levels than those given an extra dose of the original vaccine.

With many Americans reluctant to roll up their sleeves again, perhaps the better question is how the new booster compares to going without another dose.

A hint: A month after receiving the new booster, antibody levels in people 55 and older had jumped 13 times higher than before the extra dose. Younger adults saw a 9.5-fold jump, Pfizer and its partner BioNTech said. It had been about 11 months since the study participants’ last vaccination.

It’s too soon to know how much real-world protection the antibody boost translates into -- and how long it will last. The results

BOOSTER shots of the Pfizer COVID-19 vaccine. (Kristopher Radder/The Brattleboro Reformer via AP)

are preliminary, the study is still underway and infection-fighting antibodies naturally wane over time.

Still, the FDA had cleared the updated boosters without first requiring testing in people, basing the decision on studies of

a similarly tweaked vaccine — against an earlier omicron strain — rather than the exact recipe.

So the new data “reassures us that this was a good decision to move to this bivalent vaccine,” FDA vaccine chief Dr Peter Marks told The Associated Press.

“Right now is the time for people to consider going out and get the updated” booster.

Health experts say it’s shaping up to be a rough winter. Flu season is starting unusually early and harsh, children’s hospitals are packed with another respiratory

illness named RSV, and COVID19 cases again are expected to rise with holiday gatherings.

The original COVID-19 vaccines still offer strong protection against severe illness and death, especially among younger and healthier people who’ve gotten at least one booster — a reason for anyone who hasn’t gotten their first set of shots to do so.

But effectiveness drops as new mutants emerge and more time passes since someone’s last shot.

The updated doses are combination shots, tailored to offer a boost of protection against both the original coronavirus strain and the dominant BA.5 strain. Pfizer’s shot is available for anyone 5 or older. Moderna’s version of the updated booster is for those 6 and older.

About 26.3 million Americans have gotten an updated booster since they rolled out in early September, according to the Centres for Disease Control and Prevention.

Some small studies have recently raised questions about how much advantage the updated boosters will offer rather than just getting another dose of the original vaccine.

Pfizer’s early findings compared several dozen younger and older adults given the bivalent booster with a group who received a fourth dose of the company’s original vaccine.

THE TRIBUNE

Tuesday, November 8, 2022, PAGE 9

Eight causes of painful urination Many men and women are unfortunately plagued by recurrent episodes of painful urination, called dysuria.

There is a prevalent misconception that a urinary tract infection is always the cause of every occurrence of pain on urination.

Patients often take courses of antibiotics with no resolution of symptoms.

There are many causes of dysuria, painful urination that are not related to an infection.

There is tremendous bacterial resistance in the community against many commonly prescribed antibiotics for urinary tract infections, UTIs. The fluoroquinolone antibiotic class, such as Ciprofloxacin, has as high as a 35 percent resistance rate against the common E.coli urinary tract bacteria. Ampicillin has about a 55 percent resistance rate against E.coli bacteria in many scientific studies.

Ciprofloxacin and Ampicillin are two of the most commonly prescribed antibiotics given empirically for urinary tract infections and in many cases the urinary tract infections are inadequately treated due to high bacterial resistance rates.

Two antibiotics that have low bacterial resistance rates for most urinary tract infections are nitrofuratoin and fosfomycin.

The world is running out of reliable antibiotics and the indiscriminate use of these two antibiotics could eventually lead to increased resistance in the community for both these drugs.

Urinary tract infections management should involve collecting a mid-stream urine culture sample that is sent to a microbiology lab to determine the antibiotic sensitivity and resistance profile of the bacteria present in the urine.

Urine lab cultures are not a perfect tool as studies have shown that about 20 percent of negative urine cultures that show no bacteria being present in the urine, are cases of false negative results.

Bacterial DNA testing of sterile negative urine cultures has shown to actually be positive for bacteria in about one in five cases.

Although urine culture tests are not perfect, it is a necessary test to try and avoid the overuse of antibiotics for query urinary tract infections.

Other potential causes of painful urination, dysuria include:

into the uterus, fallopian tubes or ovaries.

Symptoms may include painful urination, urethral pain, pelvic and abdominal pain, possible fever and chills, abnormal vaginal discharge and painful sexual intercourse.

The causes of dysuria are numerous.

1

. Sexually transmitted diseases

STIs such as chlamydia, gonorrhea and syphilis can infect the urinary tract system and lead to painful urination. Discharge may be an accompanying symptom in both men and women.

A STI requires treatment of the patient and all sexual contacts.

2

. Urethral stricture

A scarring within the urethra can lead to painful urination. There is often a reduced strength in the urinary stream and usually increased urinary urgency and frequency, with incomplete bladder emptying.

Urethral strictures may result from a sexually transmitted disease or it may be the result of trauma, which might be secondary to a previous urethral catheter or pelvic bone fractures.

3

.

Urethral syndrome

Inflammation and irritation of the urethra that is not related to an infection, can lead to pain within the urethra and painful urination. Irritants such as spermicides, douches, bubble baths, scented sanitary napkins, prior radiation or chemotherapy, amongst others can lead to urethral syndrome.

4

. Infection of the prostate

In men infection of the prostate could lead to painful urination and often discomfort in the perineum, pain after ejaculation and sometimes pain within the pelvis with increased urinary urgency and frequency.

THE UROLOGY DOCTOR IS IN...

5

. Interstitial cystitis

Also referred to as painful bladder syndrome. It is often a diagnosis of exclusion but the hallmark of the condition is no bacteria found in the urine.

Men and women with interstitial cystitis are quite commonly treated with recurrent antibiotic courses because of painful urination and painful bladder and the cause is not infective.

Fortunately, interstitial cystitis is not a common disorder.

6

. Referred pain

Pain can originate elsewhere and be referred, leading to pain in the urethra of painful urination.

Kidney or ureter stones can lead to dysuria or ovarian cysts in women.

7

. Vaginal tears

In women, particularly postmenopausal women with decreased vaginal lubrication, vaginal microtears during sexual

Dr Greggory Pinto

intercourse can cause discomfort during urination.

The urethra of a woman is very short and anatomically there is a short distance between the anus with numerous normal bacterial flora and the vagina.

Sadly, many women suffer recurrent dysuria post sexual intercourse and urinary tract infections and vaginal microtears are a potential cause as is urinary tract infection caused by bacteria transferred from the region of the anus into the vagina.

8

. Pelvic inflammatory disorder

PID starts with an infection in the vagina or cervix that ascends

Many men and women wrongly assume that each episode of painful urination is a urinary tract infection, although a urinary tract infection should be investigated as a cause.

Urinary tract infections are often inadequately treated as commonly prescribed antibiotics fail to eradicate resistant bacteria.

Recurrent episodes of painful urination should be investigated by a urologist, so that the cause can be determined and the appropriate management can be employed.

If a urinary tract infection is the cause of recurrent dysuria, then a functional or anatomical abnormality must be ruled out as the precipitating cause of the urinary tract infection.

An obstructive prostate or urethral stricture could lead to incomplete bladder emptying and recurrent urinary tract infections in men and uterine fibroids could cause extrinsic compression on the bladder in women and also lead to incomplete bladder emptying and recurrent urinary tract infections.

Poorly controlled diabetics or undiagnosed diabetics can lead to the development of a neuropathic bladder with impaired nerve function of the bladder so that the bladder is never emptied completely and those afflicted often have large residual urine volumes in their bladder, whereby bacteria often proliferate.

Seek compassionate, comprehensive and compassionate urological care for any urinary disorder include painful urination.

• Dr Greggory Pinto is a board-certified Bahamian urologist and laparoscopic surgeon.

He can be contacted at OakTree Medical Center #2 Fifth Terrace and Mount Royal Avenue, Nassau, Bahamas; Telephone – (242) 322-1145-7; email: welcome@urologycarebahamas.com or visit the website:www.urologycarebahamas.com.

Menopause can affect every workplace – here’s how to start supporting every worker experiencing it

By KATHLEEN RIACH Professor in Management,, University of Glasgow (THE CONVERSATION) Menopause is receiving a wave of increased attention about its relevance to businesses and economic prosperity more broadly. Many high-profile initiatives, including British TV presenter Davina McCall’s documentary, Sex, Mind and the Menopause, are working to increase people’s understanding of how symptoms can affect working lives. But whose menopausal workplace experiences are being taken into account to shape this understanding?

This was a question that my colleague Margaret Rees and I asked ourselves recently when exploring the evidence about the diversity of menopause experience and work. And what we found was that how we think about menopause at work is heavily skewed towards the experience of women in professional occupations, and often those who are white and middle class.

Menopause is a shared yet unique time of life for women and people who menstruate. While menopause marks the one-year anniversary of a person’s final period, it often includes symptoms in the years running up to and after this time. Awareness, education and acceptance are key to supporting menopause at work.

But using a diversity lens suggests that the way people experience menopause at work can be significantly affected by socioeconomic position, ethnicity and racialised cultures. It can also be particularly complex for people who go through menopause but do not identify as women. These are all groups that are already more likely to face discrimination at work, marginalisation in the labour market, and are more likely to be in poverty in later life.

Ethnicity and race

WOMEN working for a laundry service (Sunshine Seeds _ Shutterstock) One of our key findings is that we need to better understand and account for the menopausal experiences of those who are in low-paid and precarious modes of work. These areas of the labour market are often less likely to see provision and support that proactively challenges inequality or discriminatory practices surrounding menopause.

Research has found that socioeconomic conditions affect where women are located in the labour market as well as their experience of menopause. Some reviews suggest that women in manual jobs may experience more psychological menopausal symptoms such as anxiety or low mood than those in white-collar workplace settings.

Others suggest women in casual or irregular work will experience more muscular skeletal symptoms during the menopausal transition.

For many, there is a financial necessity that requires

someone to continue working, even if experiencing severe asymptoms. Estimates by the Living Wage Foundation also suggest that around 17 percent of women of typical menopausal age also experience insecure work (temporary contracts, agency work or self-employment, for example). This adds additional pressure at a time of life when they are more vulnerable to age and gender inequality – also called “gendered ageism” – in the workforce.

This is even more important for the economic landscape of menopause, given that those in lower socioeconomic groups or within minoritised ethnic communities in the UK are more likely to face financial insecurity and poverty in later life. Such patterns are similar in OECD countries, such as Australia, where older women represent the fastest-growing group experiencing homelessness.

As valuable resources such as Menopause whilst Black and work by Dr Nighat Arif highlight ethnicity and race is important to consider in relation to menopause. This is not only because of the experience of different menopausal symptoms and their differential effects such as hair thinning and melasma (skin pigmentation), or the impact of previous health episodes such as uterine fibroids, but also due to intersectional discrimination at work.

Checking inclusivity around menopause health access is also vital if we are to support all employees working through menopause. An employee’s ability and motivation to continue working is influenced by what health-related help, support or resources they feel are open or relevant to them during menopause.

For example, while hormone replacement therapy (HRT) is only one of many routes to support menopausal transition, those from poorer backgrounds or from minority ethnic groups are far less likely to use this treatment, suggesting institutional or cultural barriers to access.

Black women are also less likely to have affirming healthcare encounters that can improve an ability to work through menopause. We lack published evidence about the experience of those from minority communities who do seek healthcare advice about menopause. But studies of other health-seeking experiences linked to a wide variety of conditions including mental health suggest they may be more likely to receive under-diagnoses, misdiagnoses and late diagnoses.

All of this is central to the economic consequences of menopause for black and minority

ethnic groups who are already twice as likely to be in poverty in the UK than white groups, and to be disproportionately represented in lower-paid employment.

Raising awareness and inclusivity The UK has made some positive inroads in highlighting menopause as a workplace concern. And the recent release of the concluding inquiry report by the government’s All-Party Parliamentary Group on Menopause recommended that “the government must coordinate and support an employer-led campaign to raise awareness of menopause in the workplace”. But without a clear inclusivity lens, a wider range of menopausal experiences will not be heard.

We also need to ensure all businesses consider supporting menopause as being in their interest. Calls for policy or legislation to make menopause a protected characteristic may not attract employers of those in low-paid or insecure workforce settings. They may view this as “another thing to do” simply to avoid litigation.

However, forums that have a low barrier or cost to entry for inclusive menopause and work information-sharing could help businesses of all sizes. The research community – myself included – can also do better by listening and generating evidence to show a more diverse menopause experience to government, the media and business.

Being sensitive in how we choose to represent menopause at work, as well as in social and political spaces, is important. But without more knowledge of the wide range of menopausal experiences that employees face, we can only reproduce a rather pale and privileged picture of menopause.

PAGE 10, Tuesday, November 8, 2022

THE TRIBUNE

The challenge of successfully co-parenting Divorced moms share what they’ve learned

By CARA HUNT Tribune Features Writer cbrennen@tribunemedia.net

Co-parenting is one of those terms celebrities always refer to their divorce statement: “We will work to be co-parents of our children.”

When done right, co-parenting can ease the stress of divorce on kids, but it isn’t always easy to do, particularly if the separation has been a messy bitter one.

“It took me and my ex a while to figure it out, because I was so disgusted with him when we split up, so I didn’t want to make the effort to have to call him about the kids and all that,” Tribune Woman reader Tania said.

“I just wanted to go about my business and never see him again.

“He would send me a message saying, ‘I miss them’, and I would think that’s good for you because you don’t deserve to see them. In the beginning I was dead petty, ignoring him all the time,” said the mother-of-three.

Fellow Tribune Woman reader Theresa admitted that in the beginning, shortly after her divorce, she used her son as a weapon.

“I would tell my ex-husband that I needed money and if he didn’t give me exactly what I wanted my son would be ‘unavailable’ to see his dad. Part of it was my anger that he left me to be with this other woman. I wanted to hurt him, and I didn’t want my son around her either,” she said.

Sierra said in her case, co-parenting their children was very

difficult because she and her ex were in the midst of an acrimonious divorce battle.

“We were fighting over everything… who would get the house, alimony, child support. My husband was not backing down and neither was I, and so to say, ‘Let’s compromise and figure out what to do with our daughters’, no ma’am, that was not working,” she said.

But while the initial separation phase was rough, these three women said they eventually realised they truly had to put their

differences with their former spouses aside for the good of their kids.

Tania said: “I think I had a change of heart when I didn’t bother to tell my ex about an event my son was in. All the other daddies were there, and my son asked why his dad why he wasn’t, and he said because your mother didn’t tell me. I felt bad because my son was crying…’Why you ain’ tell daddy?’ I think it hit me that while I thought I was spiting him, I was really spiting the kids.

And so I realised that I had to to put my personal feelings aside.”

Theresa agreed.

“I think if I were really honest, I was letting people rile me up. You know, listening to friends tell me my husband ain’t nobody. But I agree with Tania. You don’t want to hurt your child.

There are so many no-good fathers out there, but if you know deep that your ex is a decent father, then you owe it your child to not interfere in their relationship with their father. He may be a lot of things, but I can’t say he don’t do right by his child. And when he saw I made more effort, he made more effort, and things are now better.”

Sierra said when communication is the problem, having a third party help out may be a good idea.

“My ex and I had a sit down with a mutual friend…actually, the best man at our wedding and one of our son’s godfather… as a moderator and we decided that we would just voice-note each other, and added the friend to our chat. And because we knew someone else hears and sees our messages (we communicated better). Honestly, it worked,” she said.

“We have found a method that works all right for us, and we have let go of all the insults and rows and we are all happier about things now. It ain’t nowhere perfect, but I hope that one day our sons can say mommy and daddy loved us enough to try make peace.”

Our research also showed that teens who shifted to becoming a night owl had a different rate of brain development than teens who remained morning larks.

We found the white matter of night owls didn’t increase to the same degree as teens who were morning larks.

We know growth of white matter is important in the teenage years to support cognitive, emotional and behavioural development.

What are implications?

Is your teen a night owl? Their sleep pattern could shape their brain and behaviour years later

By REBECCA COOPER PhD candidate in neuropsychiatry, The University of Melbourne Maria Di Biase Senior Research Fellow, Psychiatry, The University of Melbourne Vanessa Cropley Senior Research Fellow, The University of Melbourne (THE CONVERSATION) – It’s 11pm on a weeknight and your teenager still has their bedroom light on. You want them to get enough sleep for school the next day, but it’s a struggle.

Our new research shows what happens to the brains and behaviour of young teenagers, years after they’ve become “night owls”.

We found this shift in sleep pattern increased the risk of having behavioural problems and delayed brain development in later adolescence.

But it’s not all bad news for night owls

Sleep habits shift People’s sleep patterns shift during their teenage years. Teens can stay awake longer, fall asleep later, and have a lie in the next day.

Many teens also shift from being a morning lark to a night owl. They feel more productive and alert later in the evening, preferring to go to sleep later, and waking up later the next day.

This shift towards “eveningness” can clash with teens’ school and work. A chronic lack of sleep, due to these mis-matched sleep schedules, can explain why teens who are night owls are at greater risk for emotional and behavioural problems than ones who are morning larks.

Emerging research also indicates morning larks and night owls have a different brain structure.

This includes differences in both the grey and white matter, which have been linked to differences

in memory, emotional well-being, attention and empathy.

Despite these links, it’s unclear how this relationship might emerge. Does being a night owl increase the risk for later emotional and behavioural problems?

Or do emotional and behavioural problems lead to someone becoming more of a night owl?

In our study, we tried to answer these questions, following teenagers for many years.

What we did We asked over 200 teens and their parents to complete a series of questionnaires about the teens’ sleep preferences, and emotional and behavioural well-being.

Participants repeated these questionnaires several times over the next seven years.

The teens also had two brain scans, several years apart, to examine their brain development. We focused on mapping changes in the structure of white matter – the brain’s connective tissue that allows our brains to

process information and function effectively.

Earlier research shows the structure of white matter of morning larks and night owls differ.

However, our study is the first to examine how changes in sleep preferences might affect how white matter grows over time.

Here’s what we found Teens who shifted to becoming a night owl in early adolescence (around the age of 12-13) were more likely to have behavioural problems several years later.

This included greater aggression, rule breaking, and antisocial behaviours.

But they weren’t at increased risk of emotional problems, such as anxiety or low mood.

Importantly, this relationship did not occur in the reverse direction. In other words, we found that earlier emotional and behavioural problems didn’t influence whether a teenager became more of a morning lark or night owl in late adolescence.

the

These findings build on previous research showing differences in brain structure between morning larks and night owls. It also builds on earlier research that indicates these changes might emerge in the teenage years.

Importantly, we show that becoming a night owl increases the risk of experiencing behavioural problems and delayed brain development in later adolescence, rather than the other way round.

These findings highlight the importance of focusing on teens’ sleep-wake habits early in adolescence to support their later emotional and behavioural health. We know getting enough sleep is extremely important for both mental and brain health.

Here’s some good news It’s not all bad news for night owls. As our research shows, morning lark and night owl preferences aren’t set in stone.

Research indicates we can modify our sleep preferences and habits.

For example, exposure to light (even artificial light) alters our circadian rhythms, which can influence our sleep preferences.

So minimising late-night exposure to bright lights and screens can be one way to modify our preferences and drive for sleep.

Exposure to light first thing in the morning can also help shift our internal clocks to a more morning-oriented rhythm. You could encourage your teen to have their breakfast outside, or go onto a balcony or into the garden before heading to school or work.

• This article is republished from The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Read the original article here: https://theconversation.com

THE TRIBUNE

Tuesday, November 8, 2022, PAGE 11

Rihanna talks motherhood, Super Bowl: ‘It was now or never’

By KRYSTA FAURIA Associated Press SIMI VALLEY, California (AP) — Rihanna knew that if she was going to return to the stage less than a year after giving birth to her first child, the performance would have to top anything she’d done before.

“If I’m going to leave my baby, I’m going to leave my baby for something special,” the multi-Grammy winner told The Associated Press in an interview.

That something special turned out to be the upcoming 2023 Super Bowl halftime show. “It was now or never for me,” she said.

The singer had previously declined to perform in the 2019 halftime show out of solidarity with Colin Kaepernick. But in a recent interview ahead of her “Savage X Fenty Show Vol. 4,” Rihanna said that the timing and circumstances this time around were right for her. “It was a challenge that I welcomed. It was a stage bigger than anything I’ve ever done,” she said.

After the NFL announced in late September that Rihanna would headline the February show, hopeful rumors spread of a long-awaited new album, which she has been teasing in recent

RIHANNA arrives at the world premiere of “Black Panther: Wakanda Forever” at the Dolby Theatre in Los Angeles.

(Photo by Richard Shotwell/Invision/AP) years. Her last album, “ANTI,” was released in 2016.

Although the pop star recently dropped her first new song in six years, the lead single for “Black Panther: Wakanda Forever,” she was quick to shut down speculation that her Super Bowl performance meant an album was

imminent. “That’s not true. Super Bowl is one thing. New music is another thing. Do you hear that, fans?” she said, laughing.

“The second that I announced this, I said, ‘Oh, my God, they’re going to think my album is coming. I need to get to work,’” she recalled.

Despite her quick return to the public eye after giving birth, Rihanna and rapper A$AP Rocky have kept the details about their baby private. The two have yet to share his name or any photos of him.

“We just didn’t get around to it yet, really. We’ve just been living.

But I guess there’s a certain freedom that comes with kind of just like getting it out there,” she said.

In addition to adjusting to life as a new mom, Rihanna said she has been busy outdoing last year’s “Savage X Fenty Show Vol. 3,” which earned an Emmy and included a long list of high-profile stars.

“It’s always challenging to beat the one before,” she said. “Next year is going to actually be the main challenge because this year was such a huge scale of a show and I don’t know how we’re going to beat it, but we’re going to have to try.”

This year’s show includes performances by Anitta, Maxwell and others, as well as a long list of appearances, including Taraji P. Henson, Cara Delevingne and Sheryl Lee Ralph. AP’s interview with Rihanna came before word leaked that Johnny Depp was slated to participate. Some people unhappy with Depp’s legal battle with ex-wife Amber Heard called for a boycott of Rihanna’s line if Depp was part of the show.

The “Savage X Fenty Show Vol. 4” will be available to stream Wednesday on Amazon Prime Video.

THE WEATHER REPORT

5-Day Forecast

TODAY

TONIGHT

WEDNESDAY

THURSDAY

FRIDAY

SATURDAY

Wind and rain

Wind and rain

A little rain from tropical storm

Increasingly windy

Breezy with plenty of sunshine

Times of clouds and sun

High: 85°

Low: 77°

High: 85° Low: 76°

High: 84° Low: 75°

High: 87° Low: 74°

High: 86° Low: 74°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

82° F

73° F

86°-75° F

90°-76° F

93°-76° F

93°-82° F

ORLANDO

High: 83° F/28° C Low: 69° F/21° C

TAMPA

High: 85° F/29° C Low: 66° F/19° C

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

N

almanac

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High: 80° F/27° C Low: 77° F/25° C

25-35 knots

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High: 84° F/29° C Low: 74° F/23° C

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FT. LAUDERDALE

FREEPORT

High: 85° F/29° C Low: 74° F/23° C

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| Go to AccuWeather.com

High: 82° F/28° C Low: 76° F/24° C

MIAMI

High: 85° F/29° C Low: 74° F/23° C

15-25 knots

KEY WEST

High: 82° F/28° C Low: 74° F/23° C

ELEUTHERA

NASSAU

High: 85° F/28° C Low: 77° F/24° C

Forecasts and graphics provided by AccuWeather, Inc. ©2022

High: 85° F/29° C Low: 77° F/25° C

N

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

tiDes For nassau High Today

Ht.(ft.)

Low

Ht.(ft.)

7:22 a.m.

7:38 p.m.

3.4 2.7

1:03 a.m.

1:48 p.m.

0.0 0.1

Wednesday 8:02 a.m.

8:18 p.m.

3.3 2.6

1:42 a.m.

2:30 p.m.

0.0 0.2

Thursday

8:42 a.m.

8:59 p.m.

3.2 2.5

2:21 a.m.

3:12 p.m.

0.1 0.3

Friday

9:22 a.m.

9:40 p.m.

3.1 2.3

2:59 a.m.

3:54 p.m.

0.3 0.4

Saturday

10:04 a.m.

10:23 p.m.

3.0 2.2

3:39 a.m.

4:37 p.m.

0.4 0.6

Sunday

10:47 a.m.

11:10 p.m.

2.8 2.1

4:21 a.m.

5:24 p.m.

0.6 0.8

Monday

11:35 a.m.

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2.7 -----

5:07 a.m.

6:13 p.m.

0.8 0.9

sun anD moon Sunrise Sunset

6:22 a.m. Moonrise 5:25 p.m. Moonset

5:38 p.m.

6:25 a.m.

Full

Last

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CAT ISLAND

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High: 85° F/29° C Low: 76° F/24° C

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20-30 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 85° F/29° C Low .................................................... 76° F/24° C Normal high ....................................... 82° F/28° C Normal low ........................................ 71° F/21° C Last year’s high ................................. 79° F/26° C Last year’s low ................................... 66° F/19° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ............................................... 49.87” Normal year to date ................................... 36.41”

uV inDex toDay

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 85° F/29° C Low: 76° F/24° C

High: 84° F/29° C Low: 76° F/24° C

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High: 85° F/29° C Low: 76° F/24° C

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LONG ISLAND

tracking map

High: 85° F/29° C Low: 76° F/24° C

25-35 knots

MAYAGUANA High: 86° F/30° C Low: 78° F/26° C

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

CROOKED ISLAND / ACKLINS

tonight’s lows.

RAGGED ISLAND High: 84° F/29° C Low: 76° F/24° C

High: 84° F/29° C Low: 77° F/25° C

GREAT INAGUA High: 85° F/29° C Low: 77° F/25° C

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

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WINDS NE at 20-30 Knots E at 30-50 Knots N at 12-25 Knots NW at 20-30 Knots NW at 25-35 Knots WSW at 12-25 Knots W at 7-14 Knots SSW at 12-25 Knots WNW at 25-35 Knots SW at 15-25 Knots NNE at 15-25 Knots NNE at 30-40 Knots NW at 20-30 Knots W at 15-25 Knots SW at 8-16 Knots SSW at 10-20 Knots NW at 8-16 Knots SW at 12-25 Knots WSW at 8-16 Knots SSW at 10-20 Knots NW at 15-25 Knots WSW at 30-40 Knots NW at 7-14 Knots SW at 10-20 Knots NW at 25-35 Knots WSW at 15-25 Knots

WAVES 14-18 Feet 14-18 Feet 3-5 Feet 3-5 Feet 8-12 Feet 8-12 Feet 3-6 Feet 3-6 Feet 8-12 Feet 10-14 Feet 5-9 Feet 8-12 Feet 1-3 Feet 1-2 Feet 2-4 Feet 3-5 Feet 2-4 Feet 4-7 Feet 5-9 Feet 5-9 Feet 2-4 Feet 2-4 Feet 1-3 Feet 3-5 Feet 3-5 Feet 3-6 Feet

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SECTION B

TUESDAY, NOVEMBER 8, 2022

A mother’s bid to restore son’s reputation after shooting incident

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

A decade ago, in October of 2012, Marva Gilbert’s teenage son was shot multiple times and left for dead.

Although many in his community believed the shooting had been the result of his engaging in gang or other violent activities, his mother knew that this was far from the truth. She knew it had been a tragic case of mistaken identity that almost cost her son her life, and now she wants the public to know it as well.

The desire to spread the truth about the circumstances surrounding the non-fatal shooting of her son has inspired Marva to write her first book, “Fight of His Life”.

The civil servant and Grand Bahama resident, and now new author, said she wanted to make sure people knew that the shooting of her son, Brian Gilbert Jr, was due to a case of mistaken identity, and not because he had gotten himself into a violent situation.

Marva also writes about how her faith in God enabled her to release her hate and anger towards the perpetrator who almost killed her son.

Brian was shot when he was just 15 years old. He was shot three times in his upper left shoulder, with one of the bullets shattering his collar bone, and once in the knee. That bullet still remains in his body to this day.

He was shot by someone not known to him.

“The incident took place north on Coral Road through a track road (in Freeport). At the time I had gotten off from work and went to visit a cousin of mine to

catch up what was happening with our family. If I had gone directly home, I would have been on the scene. A witness heard the shoots just after 6pm,” she said.

Police in their press briefing at the time made a remark about how young people needed to learn how to resolve conflicts, unintentionally painting Brian as someone who lacked conflict management skills, which Marva said could not have been further from the truth.

“I understood the incident was under investigation, but the community did not see it that

AUTHOR Marva Gilbert

way; they saw my son as a troublemaker and he was not.

“Looking back, not many people in my circle were concerned because my belief was that they concluded that my son was in a conflict with that young man (the shooter). My son did not know him from the man on the moon. Even close relatives felt like he was in a gang or this was some sort of gang relation/ retaliation, but that was far from the truth. The investigations were going on and something had to be said not to interfere with the investigations. I understand that, but I believe to date in the recess of some persons’ minds, my son was in some sort of gang and I am one of those women who would say ‘not my good son’.”

Now, a decade on, Marva is eager to ensure that the truth about the shooting is out there.

“I decided that the people on the island needed to hear the truth, so I put the incident in a book,” she said.

Marva said the shooting of her son was one of most difficult times of her life. She said she had to be emotionally strong for him and their family, including husband Brian Gilbert, to whom she has now been married to for 34 years, and their three other children.

“It was not easy for my family…Even though my son did not die, he could have very well died. According to the doctor, the bullet was a breath away from hitting his heart, but the Lord is good,” she said.

“When this happened anger and rage filled the family’s heart. They even had loved ones who wanted to take matters into their own hands. Of course, I had family and friends at that time who wanted to get (the shooter), but my husband and I both said

let him go and let the Lord’s will be done. He was sentenced to 16 years in Fox Hill prison, now the Bahamas Department of Corrections.”

Marva said she eventually found the capacity to forgive the perpetrator and try to rebuild her life.

“The concepts and themes I would like to convey include the importance of forgiveness. I know that it is hard, but it must begin somewhere. Someone needs to say, ‘Let it go. This act will not bring my loved one back and maybe God has allowed this to happen. He alone knows and sees and holds the future; He makes no mistakes.”

The overall message in the book is forgiveness, she said.

“Forgiveness is not for the person who has done us wrong, but for us so that we may live a long healthy life. The main takeaway from this is that we come back to our first love as a country; back to where we were our brother’s keeper; we were a village, where we looked out for one another,” she said.

She hopes her story will also become an evangelism tool an introduce people to God and His love. “Let us forgive each other and look to the Lord, because this too will pass. As the months and years pass, the pain and suffering of my son being shot for no reason is gone and forgotten. Only when he takes off his shirt and I see the scars, and cringe at all the pain my son and we as a family suffered that fateful day 10 years ago, does it come back,” she said.

“Fight of His Life” is now available on Amazon.

For more information, contact 242-443-4752 or work 242-602-9202.

The Giveback Girl organisation pays tribute to their inspiration and seeks to raise funds for good causes

By ALESHA CADET Tribune Features Writer acadet@tribunemedia.net

Helping those in need will never go out of style. And for the group that makes up the Giveback Girl organisation, the goal remains the same each year: to do more than they did the previous year.

The late Eithne Yolanda Bowe is the inspiration behind The Giveback Girl community service organisation. She was a visual artist, retail buyer and manager, and a writer known for her elegant fashion sense and creative presence.

Her sudden passing from sickle cell disease in 2016 prompted her niece, Scieska Adderley, to launch a special annual TV show in her honour, using her journalism and media skills to make the project a success.

Afterwards, The Giveback Girl group was born. Since its inception, it has facilitated several community service initiatives that have benefited special needs students, hurricane survivors, cancer caregivers, and children’s home residents.

To continue this great work, the organisation is in need of funding. Therefore, they will host The Giveback Girl’s first fundraiser on Friday, November 11, 2022 at the Ocean Club Gulf course’s Club House, from 6pm to 9pm. Tickets are $150.

Under the theme “Mozaik,” the event will feature art, jazz, and wine, all while showcasing Eithne’s newly released artwork.

“She created images in the mosaic art style in a unique way by using paper. The sale of Eithne’s artwork will help to fund the community service projects she loved so much and spearheaded as a family tradition,” Scieska told Tribune Woman.

“It is the first time we’re hosting this event, and we’re incredibly excited to do so. To continue our work, we need funds. We’re pleased to partner with the Ocean Club on this initiative. Her former

boss, Robbie Lemming, and his staff have been highly accommodating. Before her death, Eithne worked as a retail buyer at the Ocean Club Golf Course.”

At the event, Scieska said patrons will be able to meet members of the organisation, learn more about what they do, and contribute to a worthy cause.

Highlights will include Soulful Sounds with Simmone entertaining guests and an all-you-can-eat buffet. Radio personality Roscoe Davis will take on hosting duties.

“It promises to be a great time supporting a great cause. With the funds raised, we intend to furnish the transitional homes being built at the Ranfurly, a donation to the Sickle Cell Association, and a donation to the Bahamas AIDS Foundation’s Outreach Programme for Adolescents. We want the public to know our cause and introduce them to Eithne’s talent,” she said.

Scieska said her late aunt lived a simple life: she worked hard,

THE GIVEBACK Girl organisation seeks to spread cheer and help those in need loved her family, and helped the needy.

“She spearheaded our family’s annual Christmas giveback until her sudden death from sickle cell disease in 2016. That year, we honoured her by documenting this tradition on camera.”

The inaugural TV event in her honour, My Christmas Wish, launched a series and a brand, The Giveback Girl.

“Currently, we’re producing our seventh show,” said Scieska.

Thousands have watched the shows on TV and YouTube. To increase its capacity to help even more people and causes, The Giveback Girl is now registered as a non-profit organisation in the Bahamas.

“I proudly lead this organisation as the founder and executive producer of our annual hour-long television show,” said Scieska.