11102016 business

THURSDAY, NOVEMBER 10, 2016

business@tribunemedia.net

$4.10

NHI ‘doomed to fail’ without doctor buy-in

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Senior physicians have warned the Government that its National Health Insurance (NHI) initiative is “doomed to fail”, unless it substitutes “domination and dogma” for an approach that permits industry stakeholders to buy in to the scheme.

Dr Locksley Munroe, the Consultant Physician Staff Association’s (CPSA) president, said a “transparent, honest partnership” between the Government and healthcare industry players would - although taking longer

Senior surgeon urges end to ‘domination and dogma’ Bahamas urged to heed woes of similar schemes Catastrophic care has ‘limits’ with $24m budget In a November 6, 2016 letter to the Government’s chief medical officer, Dr Glenn Beneby, the CPSA chief urged the Government See pg b4

A BISX-listed company has no w been operating one o f New Pro vidence’s key water plants for more than three years witho ut a long-term contract from the Go vernment.

Consolidated Water’s 10-Q (quarterly) filing with the Securities & Exchange Commission (SEC) last night confirmed that it is still operating the Windsor plant - one o f two that supply New Pro vidence’s Water & Sewerage Corporation customers - on a month-to-month basis.

It has done this since July 2013, when Consolidated

BISX listee still operates Windsor month-to-month Consolidated’s Bahamas revenue off $1.749m And down almost $10 million since 2013 results Water hit the total amount of water it was required to produce under its previous contract, which then expired.

See pg b4

$4.14

Doctors suffer 6-month hit over tax compliance

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Doctors have had to wait up to six months to receive payment for treating public sector patients due to delays in obtaining Tax Compliance Certificates (TCCs), the Medical Association of the Bahamas (MAB) president revealed yesterday.

Dr Sy Pierre told Tribune Business that the payment woes were exacerbating his members’ concerns over the proposed National Health Insurance (NHI)

scheme, especially given that the latter’s information technology (IT) system has yet to be sourced and implemented.

The MAB president said it was vital that NHI’s IT infrastructure be properly integrated with the National Insurance Board (NIB) and Department of Inland Revenue, otherwise physicians would likely experience the same TCC-related payment problems with the Government’s new healthcare scheme.

“We’ve had incidents of three to six months with physicians See pg b5

TCC Certificate pay delays exacerbate NHI fears MAB chief: Agencies ‘must be on same page’ Predicts NHI not ready until mid-late 2017

Gray: I’ve given Bahamians 400 farming leases

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Three years later: No Govt decision over water plant

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

$4.14

V Alfred Gray

The Minister of Agriculture and Marine Resources yesterday said he has issued almost 400 leases to Bahamians for agricultural development in the last three to four years, in a bid to dispel concerns about Chinese favouritism.

V Alfred Gray, trying to deflect concerns over a See pg b6

Admits Bahamians not being granted sufficient land Agrees with ‘chorus’ that Gov’t ‘needs to do more’ Inspectors more vigilant in ensuring farming usage

$4.14 BORCO suffers $20-$30m hit from Matthew Damage to GB storage terminal ‘ not material’ Insurance claim to be filed Storm response ‘safety success story’ for owner

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Bahamas Oil Refining Company (BORCO) suffered a $20-$30 million hit as a result of Hurricane Matthew, its owner has revealed.

Buckeye Partners, in a recent 10-Q (quarterly) filing with the Securities & Exchange Commission (SEC), said the Category Four storm had impacted both its operational and capital spending costs in the Bahamas.

The New York Stock Exchange (NYSE) listed company, though, said much of the damage inflicted upon its Bahamian asset, now renamed Buckeye Bahamas Hub (BBH), would likely to See pg b5

THE TRIBUNE

Thursday, November 10, 2016, PAGE 3

Gray: ‘I don’t know what was in his head’

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Minister of Agriculture yesterday said no discussions have been initiated with potential Chinese investors over a the proposed $2.1 billion agriculture/fisheries project for Andros .

V Alfred Gray said: “Some several weeks ago, the Bahamas’ ambassador to China visited my office with what he termed a list of initiatives made up by him, and wanted my support or my permission to discuss those initiatives with possible investors in China. I gave him that permission

Yet minister gave ambassador $2.1bn ‘go ahead’ China envoy yet to hold any talks with investors to discuss those initiatives.”

Mr Gray added: “He gave a copy of that letter to certain agencies of the Government and otherwise. I am advised from a good source that that letter was sent or given to the Nassau Guardian.

“I have no problems with

that whatsoever. If you read the Nassau Guardian you wold get the impression that the letter was leaked. It was a letter which was discussed by the Bahamas National Trust and the Ambassador, the Nature Conservancy and the Ambassador, and so to say it was leaked, I know the intent of that was to cause people to feel that there was was something to hide.”

Mr Gray stressed that there was no deal or proposal before the Government involving an investment of the magnitude proposed by the ambassador, Paul ‘Andy’ Gomez, which also involved the lease of 10,000 Crown Land acres.

Govt extends bid deadline for NHI public insurer

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Government has extended the deadline for bids to operate National Health Insurance’s (NHI) public insurer for a second time to November 21, in a bid to ensure Bahamian groups are not “disadvantaged” by Hurricane Matthew.

The bid deadline has already been extended once, from August 22 to November 7, and the Christie administration has now granted interested parties a further two weeks.

“Due to the passage of Hurricane Matthew through the Bahamas and its impact to personal and professional organisations, the Government of the Bahamas, after careful consideration, has agreed to extend the acceptance of bidder proposals,” a notice

published on the NHI website said.

Emmanuel Komolafe, the Bahamas Insurance Association’s (BIA) chairman, told Tribune Business in an interview that the sector was informed the extension was granted to give Bahamian parties more time to finalise bids in Matthew’s wake.

“The deadline for submission of bids/proposals for the management of the public insurer has been extended by a further two weeks to November 21, 2016, in the wake of Hurricane Matthew,” he said.

“We were advised that the extended deadline is designed to ensure that local bidders or companies are not put at a disadvantage due to the recent storm. It should be noted that the initial timelines established were already tight and seen by many as being ambitious.”

When it came to the NHI scheme’s implementation, which the Government wants to execute in early 2017, Mr Komolafe said there was “much work” remaining to be done by all parties.

He added that the tender for NHI’s core information technology (IT) system had yet to be issued, although the Government appeared to be considering “interim” solutions.

“One of the most important aspects of the NHI scheme is the IT component due to its role in ensuring operational efficiency, fraud risk management and data protection, among others,” Mr Komolafe said.

“Additionally, the IT system or platform is of great interest to service providers and administrators that may wish to participate in the NHI scheme. We are aware that the RFP for Core IT System has not been issued,

“The truth is that the Bahamas’ ambassador advised me that he has not yet begun to talk to any investor about the initiatives which he represented to me, and so it is very difficult for me to see how some initiative of the ambassador could turn into a deal or a proposal when there was no second party, even in discussion,” said Mr Gray.

Many observers, though, are questioning why the Minister would give Mr Gomez the ‘green light’ to pursue such an ambitious proposal, especially given the implications of leasing so much land and allowing Chinese state-owned entities to gain ownership of

Didn’t want Bahamians ‘disadvantaged’ by storm BIA chief: Insurers ‘keenly interested’ in IT plan No regulations yet released for consultation but an interim solution may be under consideration, albeit that this raises a number of other issues.”

Mr Komolafe added that Bahamian health insurers, who will be known as regulated health administrators (RHAs) under NHI, were keenly interested in the IT system and how it will link with the scheme’s major players.

“The question from potential RHAs has been centred around how any IT system implemented will interface with the system of medical service providers, administrators and the

$2.1bn Chinese proposal a BAMSI ‘complement’

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Minister of Agriculture and Marine Resources yesterday said the controversial $2.1 billion Chinese agricultural development proposed for Andros would likely have “complemented” the Bahamas Agricultural and Marine Science Institute(BAMSI).

V Alfred Gray said the proposal would not have “put BAMSI out of business”. He again reiterated that there is no proposal before the Government for its approval, and that he had only given the Bahamas’ ambassador to China, Paul ‘Andy’ Gomez, permission to have discussions with Chinese investors about the initiative.

The proposal would have involved the incorporation of 100 companies, jointly

owned by Chinese and Bahamian interests, with the agricultural products and seafood to be used for local consumption and exported to China and the US for sale. Some 10,000 acres of Crown Land would have been leaased to these companies, potentially rising to 20,000 if certain performance benchmarks were hit.

“If those discussions led to the Government approving some farming or agricultural investment, I think it would have complemented BAMSI,” Mr Gray said.

“We import some $900 million worth of food.

BAMSI will not be able to produce that over the next 15-20 years. If they had been given permission to farm for rice or whatever, it would have complemented what we are doing at BAMSI. “It certainly would not

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have put BAMSI out of business, because we import $900 million, and if BAMSI just made $100 million it would be doing well.

But because we need so much food, no one BAMSI will be able to supply all the food that we need.”

Mr Gray continued: “We didn’t start BAMSI because we believed that it would shut off imports altogether. We wanted to start something to show that Bahamians need to at least start considering feeding

ourselves.”

He added that while he was satisfied with BAMSI’s performance, there was room for improvement.

“I am excited about it; I’m very satisfied,” Mr Gray said. “Of course, everything could be improved, and I hope that I don’t give the impression that there is no room for improvement, but what I see BAMSI having done is to begin a process by which Bahamians could participate in a process of feeding ourselves.”

Bahamian natural resources and an industry reserved for locals.

When asked whether he thought the $2.1 billion proposal was overly ambitious, Mr Gray responded by saying: “I don’t know what was in his head so I have to be cautious. I do know that no agreement could be signed by an ambassador from the Bahamas for China or anywhere else without the Cabinet’s approval.

“Ambassadors represent a country, and that representation includes seeking out investments so that employment opportunities could be created for Bahamians.

“I’m sure that this is

the vein in which it was intended: To seek out opportunities for Bahamians to get employment and get involved in joint ventures.”

Mr Gray further defended the proposal, saying: “The Bahamas needs foreign investment. The Bahamas cannot develop without foreign investment coming in.

“All of the major hotels are here because of foreign investment. If we don’t expand our economy by local investment and foreign investment you tell us what the future of our economy will be like.”

NIB,” Mr Komolafe said.

“An efficient workflow and the ability to automate the process will determine the customer experience of participants. If an interim IT solution is put in place, then we will have to ensure that once the core (permanent) IT system is implemented, the migration project does not lead to compromise of the data integrity, customer services and confidentiality.

“We will also have to address the storage and/or See pg b6

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PAGE 4, Thursday, November 10, 2016

NHI ‘doomed to fail’ without doctor buy-in From pg B1 to heed the lessons from other countries’ NHItype schemes so that the Bahamas’ version “travels that much further”.

“NHI by itself is doomed to failure without engagement of all those currently involved in healthcare delivery,” Dr Munroe wrote in the letter, which has been obtained by Tribune Business.

“A truly transparent, honest and committed partnership with those involved would allow a much longer, satisfying and successful journey than domination and dogma.”

Dr Munroe’s letter carries significant weight, given that the CPSA represents the senior physicians in both the private and public healthcare sectors in the Bahamas.

Unless the private medical community ‘buys in’ to the proposed NHI scheme, it cannot work, and with less than two months’ before the Christie administration’s planned primary

care launch, no doctors have signed on as providers.

Few of the other key ‘building blocks’ required for successful implementation have been agreed and completed, and both Prime Minister Perry Christie and his minister of health, Dr Perry Gomez, have recently indicated that NHI’s launch may again be pushed back.

Many physicians spoken to privately by Tribune Business believe the Government will seek to use Hurricane Matthew, and the devastation it has inflicted, as an ‘excuse’ for delaying NHI’s $100 million primary care phase.

They, though, are not complaining about any delays given the significant concerns in the healthcare industry over the scheme that have yet to be addressed by the NHI Secretariat or wider administration.

Dr Munroe’s letter refers to a meeting of the NHI Catastrophic Care committee that was held on November 2, and is described as an “ongoing effort to

Three years later: No Govt decision over water plant From pg B1 “At the request of the Government of the Bahamas, Consolidated Water (Bahamas) continues to operate and maintain the Windsor plant on a monthto-month basis to provide the Government with additional time to decide whether or not it will extend Consolidated Water (Bahamas) water supply agreement

for the Windsor plant on a long-term basis,” the BISXlisted company said in its 10-Q filing.

Tribune Business inquiries last suggested that the question of whether Consolidated Water would receive a new five-year contract, or it be replaced by another operator/manager, had been sent to a Cabinet committee to make a deci-

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honestly, on principle, support the country’s effort to find a way to better fund Universal Health Care”.

Universal Health Care (UHC) is the provision of quality, affordable healthcare for all regardless of income or background. It is different from NHI, which is just one means - among many - of financing an NHI scheme.

Dr Munroe, while backing UHC as a concept, urged the Bahamas not to ignore the problems and failings of similar NHItype schemes, such as the UK’s National Health Service (NHS) and Canada’s health system, in designing its own scheme.

“There are many NHI/ NHS schemes in existence,” he said. “Common to each of them is expectation that exceeds outcome, followed by failure.

“Failures demand adjustments. As stated previously, we in the Bahamas have had the opportunity to study these systems and, hopefully, understand the reasons for failure, the reasons for success, and have the commitment to ensure that our NHI system travels that much further prior to facing its own challenges.”

Dr Munroe added: “NHI/NHS is NOT the initiator of health care. With due respect, it should be a complement to the system and hard working professionals already engaged in this field.”

When it came to catastrophic care, Dr Munroe said this had to be properly defined under NHI, along with the money allocated for it.

The annual number of patients treated in the Bahamas per year for catastrophic illnesses needed to be broken down by type, he added, along with the diagnoses that led to “high costs” of care.

Dr Munroe said provider fees for catastrophic care had to be negotiated, with patient outcomes reviewed either annually or every two years.

Another physician familiar with Dr Munroe’s letter and concerns told Tribune Business yesterday that the document highlighted just how much work remained to be done to develop a feasible NHI scheme.

“A letter dated November 6, and in this tone, suggests there is a hell of a lot of work to be done,” Dr Duane Sands, the FNM’s

Elizabeth candidate told Tribune Business.

“If the physicians and healthcare providers are to truly embrace NHI, then they ought to be actively engaged and involved in a true partnership, otherwise it is not going to work.

“Here we are on November 9, and a significant part of the roll-out of NHI is the buy in and commitment from the physician body.

How do you roll out a programme unless you have buy in from the people who are trained and expected to deliver it? That remains a huge hurdle.”

Dr Sands said he, too, was a member of NHI’s Catastrophic Care committee, and acknowledged that its members had discussed how to move this from a concept to implementation.

“The meetings have been productive and fairly comprehensive,” he added.

“But if you were to ask me, frankly, if there is a product ready to be rolled out today, the answer is: No.” With just $24 million allocated by the Government for catastrophic care alongside the $100 million rollout of NHI’s primary care phase, Dr Sands said there would inevitably be “limits”

on who could be assisted, and how much help they will receive.

“When you look at the challenge of providing catastrophic care and assistance to the population in the setting of a limited budget, which is $24 million, this has to be done with great care to ensure it is fair and equitable,” Dr Sands told Tribune Business.

“Who do you cover? Who do you help? How much do you help? Who decides who to help? These are the challenges, and the questions have to be clearly articulated.”

Given its pre-election target for NHI’s roll-out, Dr Sands said “time is not on the Government’s side” in terms of addressing the catastrophic care issues, let alone NHI’s wider problems.

“Implicit in a $24 million cap is that not everyone with catastrophic problems will get help,” he told Tribune Business.

“If you want to be fair and maximise assistance to as many persons as possible, there will clearly have to be limits. What does that $24 million budget support?”

sion.

However, more than three years later, the Christie administration has been unable to yet reach a decision on an asset key to the water supply for thousands of New Providence homes and businesses.

Apart from agreeing a new deal with Consolidated Water, the Water & Sewerage Corporation can “exercise a right of first refusal” to purchase the Windsor plant and associated materials at a negotiated price, or require the company to remove the equipment there.

Tribune Business revealed several years ago that, at the time the former Consolidated Water contract expired, at least one Bahamian group was interested in taking over as Windsor’s operator.

Meanwhile, Consolidated Water’s top-line earnings from the Windsor plant

continue to decline, falling year-over-year by 13.3 per cent 11.1 per cent respectively for the three month and nine month periods to end-September.

“Consolidated Water (Bahamas) generated revenues from the operation of this plant of approximately $1.3 million and $1.5 million during the three months ended September 30, 2016, and 2015, respectively, and $4 million and $4.5 million during the nine months ended September 30, 2016, and 2015, respectively,” the BISX-listed company said yesterday.

It added that its Bahamas revenues were down by $1.749 million year-overyear for the nine months to end-September 2016, which it attributed to reduced electricity prices. As a result, the energy component of the tariffs charged to the Water & Sewerage Corporation decreased.

“Bulk segment revenues were $22.136 million and $24.49 million for 2016 and

2015, respectively,” Consolidated Water said.

“The decrease in bulk revenues from 2015 to 2016 is attributable to our Bahamas and Cayman operations, which generated approximately $1.749 million and $730,000 less in revenues, respectively, in 2016 than in 2015 due to a significant decrease in the prices of diesel fuel and electricity from 2015 to 2016, which reduced the energy component of our bulk water rates.”

The trend was continued through the 2016 third quarter, with Bahamas revenues off $246,000 compared to 2015 numbers.

This means that, over a period spanning two-andthree-quarter years, Consolidated Water’s Bahamian revenues have fallen by almost $10 million - some $9.89 million - due to reforms at the Water & Sewerage Corporation combined with lower energy costs.

Tribune Business reported earlier this year

that Consolidated Water’s Bahamian revenues had decreased by more than $8 million over the two years to end-2015, as the Water & Sewerage Corporation’s leak and loss reduction programme bears fruit.

The BISX-listed water producer, in its annual 10-K report filed with the US Securities & Exchange Commission (SEC) , revealed that its Bahamian revenues for 2015 had fallen by $5.641 million year-over-year.

It blamed the decline largely on a 13 per cent reduction in water volumes purchased from its New Providence-based Blue Hills and Windsor reverse osmosis plants by the Water & Sewerage Corporation, which is able to buy less due to the drop in losses from its system.

When added to the $2.5 million year-over-year decline in Bahamian revenues in 2014, Consolidated Water saw some $8.141 million shaven off the 2013 top-line it earned in this nation.

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THE TRIBUNE

THE TRIBUNE

Thursday, November 10, 2016, PAGE 5

BORCO suffers $20$30m hit from Matthew From pg B1 be covered by its insurers.

“We are currently evaluating the impact of the storm on our BBH (BORCO)terminalling facility, which is located along the northwest Providence Channel of Grand Bahama Island,” Buckeye said in its filing.

“Based on information currently available, we estimate the range of costs expected to be incurred as

a result of Hurricane Matthew to be between $20 million to $30 million, comprised of both operating and capital expenditures.

“We intend to seek recovery from our insurers for property damage incurred above our self-insured retentions. However, no assurances can be given relative to the timing or amount of such recoveries.”

Clark Smith, Buckeye’s chairman, president and

Doctors suffer 6-month hit over tax compliance From pg B1 not being paid for providing services to public patients,” Dr Pierre told Tribune Business.

“Inland Revenue, they have been responsive, but it takes a while. I see the problems coming in on integration. NIB will say you are behind on paying contributions, or they can’t find your form, and will not make payments.

“The integration is going to be a big issue. There has to be integration between the NHI Secretariat, NIB and Inland Revenue. They all have to be on the same page. If this thing is not in place, it throws everything off.”

Given that the Government confirmed in late September 2016 that “the full [IT] system will not be in place for the launch of NHI”, it seems that the concerns of Dr Pierre and the MAB are justified.

Tribune Business previously revealed the private sector’s consternation with government requirements that they produce valid TCCs to obtain payment for goods and services ALREADY supplied.

The Government views TCCs as closing the tax enforcement circle, and eliminating compliance gaps and loopholes, but for Bahamian businesses they have only increased the stranglehold imposed by bureaucracy and red tape.

Companies with public sector contracts worth $10,000 or more must obtain TCCs on a monthly basis to prove they are in full compliance with are Business Licences and real property taxes, Immigration (work permit) fees, all Customs-related taxes, Value-Added Tax (VAT), NIB contributions and motor vehicle licensing fees.

Many have complained of encountering frequent delays in both obtaining TCCs and the necessary supporting documentation, and having to deal with multiple government agencies.

In turn, the TCC-related payment delays impact business cash flow and profitability, with Dr Pierre confirming that private physicians who treated public sector (NIB) patients were encountering the same difficulties as the rest of the business community.

One Bahamian doctor, speaking on condition of anonymity, told Tribune Business that the TCC issues were a major factor dissuading him from taking NIB patients.

Describing the situation as “absolutely insane”, the doctor described the predicament of a Family Island pharmacist who NIB stopped paying due to the absence of a valid TCC certificate.

“They want it from him every month,” they said of the pharmacist’s TCC. “But

chief executive, told investment analysts in a subsequent conference call that Matthew’s impact on the former BORCO facility would “not be material” for the company.

He praised the company’s preparations for Matthew as “a safety success story” for Buckeye, given that no employee was hurt, with staff ensuring the BBH site was “fully prepared” for the Category Four hurricane.

Starting his conference call with the hurricane update, Mr Smith said: “I’d like to focus first on what I consider to be a great safety success story for Buckeye.

“A number of our facilities in the Caribbean and on the south-east US coast were recently impacted by Hurricane Matthew, which was a Category Four storm.

“Most importantly, we are happy and thankful to report that all of Buckeye’s employees and their families in Matthew’s path are safe and have been accounted for with no injuries.”

Mr Smith added: “Prior to the storm making landfall, our teams worked diligently to ensure that all of our operations were secure, and that our facilities were fully prepared for the impact.

“Our teams have trained extensively for this type of incident, and we believe this is the primary reason our facilities fared so well. Following the storm, our teams worked quickly and safely to assess the damages and prepare to safely resume operations.”

While Buckeye’s USbased assets all resumed operations within four days, BBH’s location on Grand Bahama ensured that it received the most damage of any of the company’s sites.

“BBH did sustain some damage as a result of the passage of the storm,” Mr Smith acknowledged.

“Our teams are still assessing the financial impact of the damages and recovery efforts, but we currently do not expect such costs to be material.”

Grand Bahama was pummelled by Matthew’s 150 mile per hour winds, which inflicted tremendous devastation on West End and the island’s southern coast communities.

Other industrial assets, in particular the Freeport Container Port, did not fare as well as BBH, and Grand Bahama’s economy has once again been left struggling to rebound following a major hurricane.

his old application was still in the system, so they could not put the new one in.

“It took two weeks to take the old one out, so that they new one could be entered, and in the meantime they stopped paying him.

“If he got cut off, how many others got cut off? It’s not just the doctors; it’s the pharmacists, too. It’s not that they haven’t complied; it’s just that they can’t get a TCC from the Ministry of Finance on time,” the doctor continued.

“It’s insane. This TCC thing is absolutely insane. I refuse to take NIB patients.

Despite the payment woes, Dr Pierre said doctors were not refusing to treat public sector patients, given that “often-times” they were being asked to deal with serious injuries.

“All of us are willing to take a haircut, and provide private care for public patients,” the MAB chief said. “We’ve been doing it for years.”

He emphasised, though, that the TCC-related payment delays not only impacted the doctors themselves, but also the likes of nurses and technicians they employed.

The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has been lobbying the Government to extend the validity of TCC certificates from one month to three months, so that the level of bureaucracy and private sector stress is reduced.

Meanwhile, Dr Pierre told Tribune Business he

would be “surprised” if NHI was ready for launch in early 2017, saying a mid to late-year target was more reasonable given the key issues that remain unresolved.

“We have quite a few concerns, some of which have been addressed,” he said. While all healthcare industry stakeholders are represented on the Universal Healthcare Advisory Council, and were being allowed input into the NHI process, Dr Pierre said this did not mean the Government was adopting their advice.

“We can have input, but nothing we say they have to follow,” the MAB president added.

While the Government has been consulting the physician community on the proposed NHI primary care benefits package, with feedback due in by yesterday, Dr Pierre said: “Nothing is set in stone.”

Without the participation of private primary care doctors NHI is doomed to fail, yet none have yet signed up to take patients - something that is vital if the existing burden on the public health system is to be eased.

Financial remuneration agreements with doctors and laboratory technicians have yet to be worked out and finalised either.

And Dr Pierre also pointed out that the IT network

necessary for registering patients, and establishing electronic healthcare records for every NHI member, had yet to be implemented.

“This will be impossible without electronic health records,” he added, explaining that it was vital to monitor the progress of patients sent for laboratory testing, or transferred from the Family Islands to Nassau.

Asked to define a feasible timetable for NHI’s primary care phase launch, Dr Pierre told Tribune Business: “I would guess mid to late year 2017.

“It would be nice if it was early, but I don’t see how if the IT process is not in

place. It will be very difficult to see patients and have them go to the laboratory.

If it happened by January/ February, I’d be pleasantly surprised.”

He added: “It’s a massive project, but the Bahamas has less people than IBM has employees. It’s not like you’re dealing with millions of people.

“If you have sufficient staff and resources, it can be pushed forward if the political will is there. We’re not a huge country.

“The NHI Secretariat have been working on it for a while. It’s doable, but it’s going to require a lot of work. The ball is in their court.”

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Primary Duties and Responsibilities: • Ensures the company’s customer service excellence standards are exemplified consistently and that all team members are held accountable to same • Facilitate a high level of customer satisfaction by obtaining regular customer feedback • Identifies and resolves “bottlenecks” in food preparation and delivery to increase speed of service without sacrificing accuracy of orders • Ability to maintain a safe, clean and high quality restaurant operation at all times • Supervises and trains team members on all restaurant systems • Ability to effectively communicate, both orally and in writing, on a consistent basis with Restaurant Management team, superiors and support staff • Practical knowledge of inventory control management • Ability to coach, train and develop team members as well as delegate work in a way that encourages teamwork during shift to ensure smooth restaurant operations • Proven ability in handling of customer complaints, ensuring speedy and satisfactory resolution • Ensures the awareness and knowledge of all of the company’s systems, policies, procedures and operations through training and development • Provides productive direction to team members in a clear and concise way, and sets an example for team members by working hard to ensure swift and smooth food production and quality service • Sets challenging goals for self and team, provides timely performance feedback and ensures accountability Qualifications and Experience • Minimum of three to five years experience in the food and beverage and hospitality industries in a managerial or supervisory role • Working knowledge of computerized information systems used in restaurant operations, e.g. Point of Sales (POS) systems • Proficiency in various software applications, e.g. Microsoft Word, Excel, PowerPoint Salary will be commensurate with qualifications and experience.

Interested candidates should submit their resumes in confidence to the following email address:

submityourform@gmail.com

PAGE 6, Thursday, November 10, 2016

Govt extends bid deadline Gray: I’ve given Bahamians 400 farming leases for NHI public insurer From pg B3 hosting of the data in a secure environment, and the existence of a robust backup and overall contingency plan. It is our expectation that these questions will be answered in the days ahead.”

The BIA chairman said that while working groups had been created to assist the drafting of regulations that will accompany the NHI Act, none had been released for consultation.

He described these as “pivotal” to NHI’s success, as “they contain the key details on how the scheme will actually work in practice”.

Mr Komolafe said BIA members were still awaiting information on their terms of reference, and how they would function as RHAs, while talks on regulations addressing NHI benefits and their co-ordination had yet to begin.

“We welcome any initiative that ensures that the quality of care delivered within the health system is improved,”he added.

“There has been increased emphasis on the strengthening of the public healthcare system as the various announcements and contract signings suggest.

“The only question that arises is whether there will be emphasis placed on strengthening the facilities and infrastructure that will be used to deliver the imminent primary care phase of NHI (as the majority of

the health systems strengthening to date seems to be focused on secondary and tertiary care).”

Mr Komolafe said the BIA was working through the Universal Healthcare Stakeholder Advisory Council “to assist the Government as much as possible to ensure the proper implementation of this monumental initiative, in spite of the setback caused

by Hurricane Matthew”.

“It is anticipated that the Minister responsible for NHI will be appointed and the NHI Authority established in due course,” the BIA chairman said.

“It is apparent that the Government’s priorities following the devastating storm have had to be rearranged and justifiably so.

The destruction left behind requires urgent attention, and all hands on deck if our economy is to rebound and we are to rebuild together as a nation.

“Our main focus as an [insurance]industry in the aftermath of Hurricane Matthew has been to expedite the processing and payment of insurance claims, so that our clients can begin to rebuild their lives and commence their journey to normalcy. This has been and remains our priority.

“I am advised that several claims have been settled and cheques issued as we deliver on the promise of financial protection to our clients as an industry.”

From pg B1 proposal to lease 10,000 acres of Crown Land to Chinese-Bahamian farming joint ventures on Andros, said: “Since I became Minister I gave almost 400 leases of land for agricultural development to Bahamians; almost 400 I gave in the last three or four years.”

Mr Gray was addressing the controversy surround-

ing the proposed $2.1 billion agricultural development, with Chinese involvement, that entailed the incorporation of 100 companies. The agricultural products and seafood produced were to be used for local consumption, and exported to China and the US for sale.

Mr Gray yesterday acknowledged that more could be done to advance Bahamian land ownership, amid concerns that foreign-

er investors have an easier path to either lease or purchase it.

“I understand that maybe we have to do more,” the Minister said. “Maybe that should be what the narrative should be about.

“We should do more, and I would join that chorus of Bahamians who say we should get more into the hands of Bahamians.

I agree we have to do better in giving Bahamians a stake, and that’s all governments - not just the PLP. I don’t believe that any government has given sufficient ownership of land to

THE TRIBUNE Bahamians.”

He added that inspectors in his ministry have been more vigilant over the last two years in inspecting land leased by the Government for agricultural purposes, so as to ensure that such activities were being carried out and the property not used for other purposes.

Mr Gray previously said the Bahamas’ Ambassador to China, Paul ‘Andy’ Gomez, had submitted the proposal as an overview of items he sought clearance from the Government to discuss with investors in China.

US stocks surge following Trump victory; bond prices tumble Associated Press – It turns out that President Donald Trump may not be bad for the stock market after all.

Asian stock markets stumbled shortly after Trump overtook Hillary Clinton in the presidential vote count early Wednesday. From there, Wall Street appeared set for a slump of its own, only it never materialized.

Global financial markets soon steadied as Trump delivered an acceptance speech pledging to unify a deeply divided nation.

In early trading Thursday in Tokyo, Japan’s share benchmark, the Nikkei 225 index, jumped 6 percent.

An hour later, it was up 5.7 percent at 17,179.39.

The dollar also rebounded in currency trading, and was at 105.59 yen early Thursday after dropping to near 101 yen the day before.

Despite wavering in the first hour of trading, U.S. stocks rallied the rest of the day on Wednesday, lifting the Dow Jones industrial average within 50 points of a record high close.

“He took on a remarkably conciliatory posture,” said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank. “That went a long way to demonstrating, perhaps for the first time or very few times, his presidential disposition, and gave a greater sense of calm. That’s what had an

early reprieve in the markets.”

The Dow ultimately climbed 256.95 points, or 1.4 percent, to 18,589.69.

The average was briefly up 317 points.

The Standard & Poor’s 500 index gained 23.70 points, or 1.1 percent, to 2,163.26 The Nasdaq composite index rose 57.58 points, or 1.1 percent, to 5,251.07.

Wall Street had largely seen Clinton as more likely to maintain the status quo, while viewing Trump’s polices as less clear. Investor anxiety ratcheted up in recent weeks as the race tightened, leading to a nine-day slump for the market that ended Monday. By Elec-

tion Day, the market had mostly bounced back and priced in a Clinton win.

On Wednesday, faced with a president-elect Trump, traders piled into health care and financial stocks — sectors seen as likely to struggle under a Clinton administration.

They also sold off safe-haven stocks like utilities and consumer-focused companies.

Financial companies led the gainers, surging 4.1 percent. Banks and other financial stocks tend to benefit from higher interest rates and less government regulation, two things investors anticipate could happen during a Trump presidency.

CAREER

OppOrtunities are available for ambitious career-oriented individuals at a mid size hotel.

We are inviting experienced persons to apply for the following positions: EnginEEring Can-Fix-it Essential Job Functions: • Repair minor electrical issues, appliances, and minor plumbing.

• Must be able to repair drywall, flooring, carpentry, masonry and do remodeling jobs.

• General knowledge to repair heating and cooling units, painting the exterior and pressure washing.

Position requirements: • Must have three years of hands on experience in the maintenance field.

• Experience in the Hotel Industry will be a plus.

Cook Essential Job Functions: • Inspect food preparation and serving areas to ensure observance of safe,

sanitary food-handling practices. Turn or stir foods to ensure even cooking.

• Prep, season and cook food according to recipes or personal judgment and experience.

• Observe and test foods to determine if they have been cooked sufficiently.

• Weigh, measure, and mix ingredients according to recipes or personal

judgment, using various kitchen utensils and equipment.

• Prepare staff meals.

Position requirements: • General knowledge of working in a commercial kitchen.

• Knowledge and ability to use basic work tools and equipment.

BartEndEr Essential Job Functions: • Properly stock and set up bar at the beginning of each shift.

• Make certain that all drinks prepared for guests are at industry standard.

• Ensure that the required amount of liqueurs are dispense for all drinks.

Position requirements: • High School Diploma required.

• Two years experience as a Bartender required.

UtilitiEs Essential Job Functions: • Perform duties to maintain kitchen work areas and restaurant equipment and utensils in clean and orderly condition.

• Transfers supplies and equipment between storage and work areas by hand or

by use of hand truck.

• Sets up banquet tables, when required.

• Keep all equipment in the food and beverage areas in good condition.

Report any breakdowns in equipment to management.

Position requirements: • High school graduate or equivalent.

• Previous hotel-related experience desired.

PUrChasing agEnt Essential Job Functions: • Verifies purchase requisitions by comparing items requested to master list;

clarifying unclear items; recommending alternatives.

• Prepares purchase orders by verifying specifications and price; obtaining

recommendations from suppliers for substitute items; obtaining approval from

requisitioning department.

• Verifies receipt of items by comparing items received to items ordered; resolves shipments in error with suppliers.

• Authorizes payment for purchases by forwarding receiving documentation.

Position requirements: • High school graduate or equivalent.

• Two years of experience required. aCCoUnts ClErk Essential Job Function: • Prepare all accounts receivable invoicing.

• Maintain and update all accounts receivable and accounts payable files.

• Perform all clerical work in the accounts department as assigned.

• Answer incoming calls and provide routine information in response to inquiries.

• Assist in accounts receivable month/year end closing.

Qualifications: • High school graduate with accounting background.

• Knowledge of Excel and Microsoft Word.

Competitive salary and benefits package are commensurate with experience.

Interested persons should submit their resumes via e-mail to:

recruitment.humanresources@outlook.com

Senior Client Document Specialist REQUIRED SKILLS:Excellent knowledge of trust, foundations and corporate documentation Detailed knowledge of KYC rules Full understanding of QI and FATCA rules Strong proficiency in a variety of software applications, particularly: MS Word, Excel and PowerPoint Strong organization skills Excellent oral and written communication skills Excellent problem solving skills Ability to work under pressure and to meet strict deadlines Ability to work independently Commitment to excellent customer service Must be a team player EDUCATION AND EXPERIENCE: Bachelor’s Degree in Business Administration or related subject STEP Qualification At least five (5) years’ experience in a similar environment Proficiency in French would be an asset ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED Please email resume as follows:

DDMBahamas@gmail.com

NO LATER THAN 21ST NOVEMBER, 2016

THE TRIBUNE

Thursday, November 10, 2016, PAGE 7

Congressional GOP pledges swift action on Trump’s agenda WASHINGTON (AP) — Elated congressional Republicans pledged swift action Wednesday on President-elect Donald Trump’s agenda as they heralded an extraordinary new era of unified GOP control in Washington.

“He just earned a mandate,” House Speaker Paul Ryan of Wisconsin declared of Trump. “We are going to hit the ground running.”

Said Senate Majority Leader Mitch McConnell of Kentucky: “We would like to see the country go in a different direction and intend to work with him to change the course for America.”

Republicans saw their majorities in the House and Senate reduced, but not by much, as Democrats’ hopes of retaking Senate control vanished. And though Ryan and McConnell both had well-publicized reservations about Trump, both were quick to declare that the newly elected president deserved the credit.

“Donald Trump pulled off an amazing political feat. He deserves tremendous credit for that,” said Ryan, who initially refused to endorse Trump and only last month declared he’d

no longer defend him. “It helped us keep our majorities, but it also showed the country that people don’t like the direction we were going.”

First up would be repealing President Barack Obama’s health care law, something Republicans have already shown they can get through Congress with just a narrow Senate majority.

What they haven’t done is unite around a plan for ensuring that the 20 million who achieved health care coverage under the landmark law don’t lose it.

Republicans also celebrated the opportunity to fill the existing Supreme Court vacancy, and potentially more to come, with “constitutional conservatives.” McConnell was being widely praised for his strategy, once seen as risky, of refusing to act on Obama’s nominee to replace Justice Antonin Scalia, who died last February.

And Republicans pledged to try to unwind any number of executive moves by Obama, including tougher clean air rules on power plants, looser restrictions on travel to Cuba, and tougher rules on sleep for long-haul truckers, among others —

“Every single one that’s sucking the very life out of our economy,” GOP Sen. David Perdue of Georgia said in an interview.

That threatened to wipe away key areas of progress highlighted by Democrats under the Obama administration.

Some of Trump’s goals could be harder to achieve.

A wall on the southern border is estimated to cost $10 billion to $20 billion, money that Congress may be unlikely to provide given that cooperation from Democrats would be necessary.

Indeed the Senate Democratic minority stood as the only legislative barrier to Trump’s goals, since 60 votes are required for most consequential moves in the Senate.

Republicans were poised to end up with 52 Senate seats after Sen. Kelly Ayotte, R-N.H., conceded to Democratic Gov. Maggie Hassan in their close race.

That assumes the GOP wins a December runoff in Louisiana, as expected.

Democrats managed to pick up only one other GOPheld Senate seat, in Illinois, a devastating outcome for a party that went into Election Day with high hopes

Sen.-elect Todd Young, R-Ind. thanks supporters after winning his race at an election night rally in Indianapolis, Tuesday, Nov. 8, 2016. (AP Photo)

of holding the White House and winning back Senate control.

In the House, Republicans were on track to lose a maximum of nine seats, an unexpectedly modest reduction to a wide GOP majority that now stands at 247-188, including three vacant seats.

“We kicked their tails last

night,” said GOP Rep. Greg Walden of Oregon, head of the Republicans’ House campaign committee.

Trump’s extraordinary win appeared to be going far to heal divisions within the GOP, as even Republicans who’d long harbored doubts about him offered warm pledges of support.

Here and there, notes of caution were sounded, as a few Republicans made clear that Congress would be asserting its constitutional prerogatives as a check and balance on the executive, following what Republicans viewed as overly expansive use of executive power by Obama.

PAGE 10, Thursday, November 10, 2016

THE TRIBUNE

GOP congressman says Trump could help pipeline completion BISMARCK, N.D. (AP) — The North Dakota congressman who helped write Donald Trump’s pro-oil energy plan said Wednesday that Trump’s presidency might aid completion of the $3.8 billion Dakota Access pipeline, should the dispute over the project linger.

Meanwhile, Standing Rock Sioux Chairman Dave Archambault is calling on President Barack Obama to stop the project before he leaves office in two months. Obama had raised the prospect of rerouting the pipeline to alleviate the tribe’s concerns last week, and said his administration is monitoring the situation but will “let it play out for several more weeks.”

The 1,200-mile, $3.8 billion pipeline being built

by Dallas-based Energy Transfer Partners is to carry oil from North Dakota through South Dakota and

Iowa to a shipping point at Patoka, Illinois — a route that skirts the tribe’s reservation. The Standing Rock Sioux fear the pipeline will harm drinking water and cultural sites and is trying to stop the project through a lawsuit and with protests that have been ongoing in southern North Dakota for months, resulting in more than 400 arrests.

Archambault issued a statement Wednesday, saying “halting the Dakota Access pipeline presents a unique opportunity for President Obama to set a lasting and true legacy and respect the sovereignty and treaty rights of Standing Rock and tribal nations across America.”

Republican U.S. Rep. Kevin Cramer, whom Trump has leaned on for energy policy advice, said it’s not feasible to reroute a pipeline that the company

says is nearly complete.

The only holdup, according to ETP, is a section under Lake Oahe in North Dakota, near the protest site. That’s where the U.S. Army Corps of Engineers is reviewing its permitting for the crossing in the wake of tribal concerns.

The corps has given no timetable for a decision, and officials did not respond to numerous telephone and email requests for comment. But in a statement on Election Day, ETP said crews are preparing to tunnel under Lake Oahe.

“Dakota Access expects that its mobilization of equipment will be completed over the next two weeks and that it will commence drilling activities upon completion of mobilization,” the statement said, adding that the company is confident the matter of corps permission will be re-

U.S. Rep. Kevin Cramer, R-N.D., right, talks about being one of the first to endorse then Republican presidential candidate Donald Trump during the North Dakota Republican National Convention in Bismarck. Cramer, who helped write Trump’s pro-oil energy plan said yesterday, that Trump’s presidency might aid completion of the $3.8 billion Dakota Access pipeline, should the dispute over the project linger. (AP Photo) solved “in a time frame that will not result in any significant delay.”

Cramer said he expects the matter to be resolved before Trump enters the White House in January, but that if it isn’t, “Donald Trump has been very clear

he wants to rebuild the infrastructure of this country.”

“He’s been very clear he wants to replace foreign energy with domestic energy,” Cramer said. “He’s been very clear he wants to celebrate the shale oil revolu-

tion, not quash it.”

During an oil conference in Bismarck in May, Trump unveiled an “America first” energy plan that includes reducing and eliminating “all barriers to responsible energy production.”

Experienced hands at congressional helm under Trump WASHINGTON (AP) — President-elect Donald Trump, a newcomer to Washington, will deal with an experienced quartet of Washington hands as the top leaders of Congress. Here's a look at the gatekeepers to the Republican's agenda on Capitol Hill. Congress holds leadership elections next week:

REPUBLICANS Rep. Paul Ryan of Wisconsin is barely a year into his tenure as speaker of the House, the most powerful post in Congress. Ryan has been a sometime critic of Trump and was slow to endorse him earlier this year, drawing Trump's wrath.

Ryan also angered some of his GOP colleagues last month when he said

NOTICE NOTICE IS HEREBY GIVEN as follows: (a) AVRO INTERNATIONAL PROTECTOR INC. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of November , 2016 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Cay One Ltd. of No. 28 Cumberland Street, P.O. Box SS 5858 Nassau, Bahamas.

Dated the 8th Day of November, 2016 SHIELD LTD. Registered Agent for the above-named Company

Employment Opportunity

MAINTENANCE WORKERS A leading Fast Food franchise is looking for mature, clean-cut individuals to join its Maintenance (Janitorial) Team.

Job Summary To be responsible for the general cleanliness and upkeep of the entire Store and its surroundings, so as to facilitate the smooth, efficient operation of the Store.

Requirements • Must be a high school graduate.

• Must have excellent inter-personal skills.

• Must have excellent oral and written communication skills.

• Professionalism required.

• Must be able to work flexible hours including early mornings, late nights, weekends and holidays.

• A basic knowledge of kitchen equipment and electrical and air conditioning repair skills would be a plus.

• Must have a clean police record.

McDonald’s offers excellent benefits!

Please submit Resume to: Human Resources Department McDonald’s Head Office 111 Market Street North P. O. Box SS-5925 Telephone: 325-4444 Nassau, N.P., The Bahamas

he would neither defend nor work for Trump in the campaign after his crude comments about groping women. Trump had harsh words for Ryan as well, though the two spoke on election night and have a mutual interest in burying the hatchet.

Ryan, who was elected to his 10th term, sometimes appears to have a tenuous grip on the fractious House GOP conference and, like his predecessor John Boehner, sometimes has to turn to Democrats to win passage of must-do legislation. There's grum-

bling among tea party conservatives that he doesn't fight hard enough for conservative wins — and rumblings that members of the hard-right Freedom Caucus might actually topple him — but Tuesday night's GOP sweep may quell the dissent.

Senate Majority Leader Mitch McConnell largely kept Trump at arm's length for much of the year.

The pragmatic Kentucky lawmaker has 32 years' experience in the Senate, including 10 as the top Republican. He gained a reputation as an obstruc-

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, CHARMAINE VIRGINIA ADDERLEY-ROLLINS of Freeport, Grand Bahama, Bahamas intend to change my name to CHARMAINE VIRGINIA ADDERLEY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

VACANCY Applications are invited for the position of Corporate Administrator Applicants must have: • At least five years’ experience in corporate administration including a thorough knowledge of the incorporation, maintenance & liquidation of companies, preparation of annual returns, corporate resolutions, notices and other corporate documents; • A thorough understanding of due diligence and compliance; • Computer literacy, including advanced

proficiency in the use of Microsoft

Applications, Viewpoint and CP or other similar time and billing software; • Sound organisational skills and the

ability to consistently produce high

quality work under pressure, to use

initiative, work as a team player and be able to work overtime at short notice.

Qualified candidates may apply in confidence no later than November 15, 2016 to: corpvacancy1@gmail.com

NOTICE NOTICE IS HEREBY GIVEN as follows: (a) AVRO INTERNATIONAL INC. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of November , 2016 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Cay One Ltd. of No. 28 Cumberland Street, P.O. Box SS 5858 Nassau, Bahamas.

Dated the 8th Day of November, 2016 SHIELD LTD. Registered Agent for the above-named Company

tionist during recent years of Democratic control, but over the past two years, with Republicans back in control, McConnell embarked on a campaign to demonstrate that the Senate could work, winning enactment of relatively modest initiatives such as a rewrite of the "No Child Left Behind" education law and legislation to combat the opioid epidemic.

McConnell is a master strategist and commands loyalty from almost all of his members. It takes 60 votes to pass legislation, so he'll need all of his skills to produce results with a slim majority. A must-do measure next year to raise the government's borrowing cap promises to be a particularly difficult lift.

DEMOCRATS House Minority Leader Nancy Pelosi, D-Calif., established herself as a powerful, savvy speaker from 2007 to 2011 as the first woman ever in the office, securing the votes for President Barack Obama's 2010 health care law. She has wielded considerable power as minority leader as well.

Pelosi, 76 and elected to

her 15th full term, is likely to run again as Democratic leader, though there are concerns of a power vacuum after she retires. She has been a dominant figure among House Democrats for decades as a strategist, fundraiser and enforcer.

She generally commands loyalty among her members, though many of her closest House allies have retired.

New York Sen. Chuck Schumer is poised to succeed Nevadan Harry Reid, who is retiring next year, as Democratic leader.

Schumer, who first won election to the Senate in 1998, won his fourth term by a landslide.

Senate Democrats are the strongest, most resilient bulwark against the GOP steamroller. It will take Democratic support to pass most bills, though repeal of Obama's health care law, spending cuts and tax legislation can advance under special filibusterproof rules.

Schumer is currently the No. 3 Senate Democrat.

He is an accomplished legislator and dealmaker on topics such as immigration and taxes.

NOTICE

NOTICE is hereby given that SHENIQUA DORVIL of BelairEstates, P.O.Box N-1875, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that REMILIUS PHILIPPE of Marsh Harbour, Abaco, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Legal Notice

NOTICE INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

ATLAS ASSOCIATED INVESTMENT CORPORATION In Voluntary liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act (No. 45 of 2000), ATLAS ASSOCIATED INVESTMENT CORPORATION, has been dissolved and struck off the Register according to the Certificate of Dissolution issued by the Registrar General on the 28th day of September 2016.

ROCKWELL LTD., 25 Mason Complex, Stoney Ground, The Valley, Anguilla, Liquidator

THE TRIBUNE

Thursday, November 10, 2016, PAGE 11

Canada open to renegotiating free trade with Trump TORONTO (AP) — Canada’s ambassador to Washington said Wednesday that Canada is open to renegotiating the North American Free Trade Agreement if that’s what President-elect Donald Trump wants.

Ambassador David MacNaughton, on a conference call with journalists, said free trade on lumber, long an irritant, would be one of the first things he’d like to see if there’s a new agreement. He noted that the U.S. is Canada’s largest trading partner and Canada is the largest trading partner for the U.S. “We’re ready to come to the table,” he said.

Canadian Prime Minister Justin Trudeau vowed Wednesday to work “very closely” with Trump. The Liberal prime minister offered his congratulations in a statement and said Canada has no closer ally and partner than the United States.

But Trudeau’s openness to trade, refugees and the environment stands in stark

contrast to Trump. Of particular concern to Canada is Trump’s vow to renegotiate NAFTA but MacNaughton said any agreement can be improved. Trump has called NAFTA the “worst deal in history.”

MacNaughton said if NAFTA was scrapped, the original Canada-U.S. trade agreement that predated NAFTA would come back into force and he said he doubted the Americans would want to end that.

MacNaughton said Trudeau and Trump are expected to talk soon. He said he’s been reaching out to advisers of Trump including Alabama Sen. Jeff Sessions.

Trudeau told students at an event in Ottawa that he sees a message in the election. Trump awakened a movement of angry working-class voters.

“The fact is, we’ve heard clearly from Canadians and from Americans that people want a shared shot at success,” Trudeau said.

“We share a purpose, our two countries, where we want to build places where the middle class and those

working hard to join it have a chance.”

A positive for Canada could be the eventual approval of TransCanada’s Keystone XL pipeline from Alberta to the U.S. Gulf Coast. President Obama nixed it but Trump supports the pipeline though he has said he wants a share of the profits.

“TransCanada remains fully committed to building Keystone XL,” TransCanada spokesman Mark Cooper said. “We are evaluating ways to engage the new administration on the benefits, the jobs and the tax revenues this project brings to the table.”

Brad Wall, premier of the Canadian province of Saskatchewan, noted Trump’s support for Keystone XL. “And with Republican majorities in both the House and Senate, I am hopeful that this important project will move ahead quickly,” Wall said in a statement.

“On the other hand, I hope he reconsiders his plan to end the North American Free Trade Agreement.”

cars from Canada line up to cross into the United States, in Blaine, Wash., at Peace Arch State Park. Canada’s immigration website was knocked out yesterday, amid U.S. President-elect Donald Trump’s victory. The site was working sporadically by early Wednesday morning. (AP Photo)

Drugmakers soar, gun companies sink: Stocks react to Trump The Associated Press – Donald Trump's upset victory over Hillary Clinton caught many investors off guard. While it didn't cause a broad market decline as many had feared, it did send some stocks sharply higher and others sharply lower. Here's how some industries shook out as investors try to anticipate how Trump's talk on the campaign trail might translate into policies that affect U.S. companies.

WINNERS: —Drugmakers. Pharmaceutical companies and pharmacy benefits managers rose sharply on the expectation that Trump and a Republican-controlled congress are less likely to crack down on rising drug prices. Pfizer jumped 7 percent, Celgene rose 11 percent and Express Scripts gained 7 percent.

— Defense contractors and infrastructure companies. Hopes that Trump will spend more on defense and follow through on campaign promises to boost

spending on infrastructure benefited several companies. Raytheon jumped 8 percent.

So did Caterpillar, a heavy machinery maker.

— Private prison operators. Clinton had said she wanted states to stop using privately operated prisons. That threat is now diminished. Corrections Corp. of American surged 43 percent, and Geo Group rose 21 percent.

LOSERS: —Gun companies.

With his endorsement from the National Rifle Association, Trump is seen as far less likely to push for stricter gun control measures than Clinton would have been. That means investors are no longer expecting a rush of gun sales due to nervous customers looking to stay ahead of government restrictions. Smith & Wesson dropped 15 percent and Sturm, Ruger & Co. plunged 14 percent.

NOTICE International Business Companies Act (No. 46 of 2000) MAYFAIR CAPITAL PROPERTIES LTD. Registration Number: 165893 B (In Voluntary Liquidation) Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 46 of 2000) commenced voluntary liquidation on the 18th day of October, 2016.

Any person having any claim against MAYFAIR CAPITAL PROPERTIES LTD. is required on or before the 8th day of December, 2016 to send their name, address and particulars of the debt or claim to the Liquidator of the company, or in default thereof they may have excluded from the benefit of any distribution made before such claim is approved.

GSO Corporate Services Ltd., of 303 Shirley Street, Nassau, The Bahamas is the Liquidator of MAYFAIR CAPITAL PROPERTIES LTD. GSO Corporate Services Ltd. Liquidator

— Hospital chains and certain insurers. Companies that benefited from President Obama's health care legislation, the Affordable Care Act, took heavy losses. Trump has said he would repeal the law. The nation's largest hospital chain, HCA Inc., plunged 11 percent, and Community Health Systems dropped 22 percent.

— Clean energy.

Trump has advocated for lighter regulation of oil and coal companies, which could hamper demand for clean energy alternatives, such as solar and wind power. SunPower Corp. sank 14 percent.

Sales Administrator: Potential applicants must possess the following qualities: •

• • • • •

3-5 years experience as an Executive Assistant at a major company or hotel The ability to work independently Proficiency in Microsoft Word and Excel spreadsheets The ability to assist with sales functions Excellent oral and written skills Creative and organized

Responsibilities for the position: • •

• • •

Assist the Sales Manager with the preparation of sales reports Liaise with various departments on groups and corporate clients Assist with the booking of groups Monitor all tour operator activity and advertising feedback Assist with the preparation of all public relations correspondence both internationally and locally.

Competitive salary and benefits package are commensurate with experience.

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

MARKET REPORT WEDNESDAY, 9 NOVEMBER 2016

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

BISX ALL SHARE INDEX: CLOSE 1,919.93 | CHG -11.56 | %CHG -0.60 | YTD 95.98 | YTD% 5.26 BISX LISTED & TRADED SECURITIES 52WK HI 4.25 17.43 9.09 3.50 4.70 0.18 8.28 8.50 6.10 10.60 15.50 2.72 1.60 5.82 9.00 11.00 8.50 6.90 12.25 11.00

52WK LOW 2.47 17.43 8.19 3.49 1.77 0.12 5.50 8.05 5.50 7.66 13.05 2.18 1.31 5.60 6.60 9.00 6.12 6.23 11.81 10.00

PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01

1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01

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

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

LAST CLOSE 4.06 15.85 9.09 3.50 1.96 0.12 5.83 8.50 5.83 10.50 13.98 2.31 1.55 5.82 8.78 10.00 8.50 6.61 11.93 10.00

CLOSE 4.06 15.85 9.09 3.50 1.96 0.12 5.83 8.50 5.83 10.50 13.98 2.43 1.55 5.82 8.78 9.00 8.50 6.61 11.93 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.12 0.00 0.00 0.00 -1.00 0.00 0.00 0.00 0.00

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

CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

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

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.11 100.00 100.00 100.00 10.00 1.01

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

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

SYMBOL FBB17 FBB18 FBB22

LAST SALE 100.00 100.00 100.00

CLOSE 100.00 100.00 100.00

CHANGE 0.00 0.00 0.00

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

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

115.07 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

114.63 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.44 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

E J K L M N

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

52WK LOW 100.00 100.00 100.00

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

113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

1,000

80 200

100

300

VOLUME 25 20

5 10

50

5

5 50

EPS$ 0.304 1.351 1.086 0.220 -1.134 0.000 0.185 0.551 0.508 0.541 0.528 0.094 0.166 0.510 0.612 0.960 0.650 0.703 0.756 0.000

DIV$ 0.090 1.000 0.000 0.160 0.000 0.000 0.187 0.260 0.200 0.360 0.610 0.060 0.040 0.240 0.275 0.000 0.280 0.120 0.640 0.000

P/E 13.4 11.7 8.4 15.9 N/M N/M 31.5 15.4 11.5 19.4 26.5 25.9 9.3 11.4 14.3 9.4 13.1 9.4 15.8 0.0

YIELD 2.22% 6.31% 0.00% 4.57% 0.00% 0.00% 3.21% 3.06% 3.43% 3.43% 4.36% 2.47% 2.58% 4.12% 3.13% 0.00% 3.29% 1.82% 5.36% 0.00%

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

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

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

INTEREST 7.00% 6.00% Prime + 1.75%

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

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

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

MUTUAL FUNDS 52WK HI 2.01 3.91 1.93 169.70 140.34 1.45 1.67 1.56 1.09 6.94 8.65 5.92 9.94 11.15 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.40 1.61 1.50 1.03 6.41 7.62 5.66 8.65 10.54 9.57

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

NAV 2.01 3.90 1.93 169.70 140.34 1.45 1.67 1.56 1.09 6.94 8.65 5.92 9.59 11.15 9.57

YTD% 12 MTH% 3.11% 4.17% 3.28% 4.34% 2.07% 2.93% 4.73% 5.64% 5.70% 7.66% 2.86% 3.86% 2.64% 3.93% 2.51% 3.63% 5.44% 4.48% 4.05% 8.28% 5.93% 13.53% 2.73% 4.73% 3.97% -3.53% 2.96% 4.33% -4.26% -6.22%

NAV Date 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 30-Sep-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016 31-Jul-2016

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

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

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

PAGE 12, Thursday, November 10, 2016

THE TRIBUNE

Mexican newspapers headline with Donald Trump’s triumph over Hillary Clinton, in Mexico City, yesterday. President-elect Trump’s victory ends eight years of Democratic dominance of the White House. Trump has pledged to usher in sweeping changes to U.S. foreign policy, including building a wall along the U.S.-Mexico border. (AP Photo)

Stunned Mexico ponders new relationship with US MEXICO CITY (AP) — Hours after the United States elected Donald Trump to be its next president, Mexico began laying the groundwork for a relationship with a leader whose campaign targeted its citizens and threatened to wreak havoc with its economy.

President Enrique Pena Nieto sent a series of messages from his Twitter account in the morning congratulating American voters and said he was ready to work with Trump to advance the countries’ relationship.

Later, in an address to the nation, Pena Nieto said he had spoken to Trump and congratulated him.

They agreed to meet during the transition period.

He spoke of opening “new paths of cooperation and prosperity,” while promising to protect the rights and well-being of Mexicans everywhere.

Treasury Secretary Jose Antonio Meade tried to strike a reassuring tone at a news conference by saying Mexico’s financial position is strong in the face of a falling peso. He said no immediate actions were planned.

But the threat is real. The

United States is Mexico’s largest trading partner and the North American Free Trade Agreement, which Trump has said he wants to re-negotiate, is the backbone of that commerce.

“The relationship of Mexico and the U.S. is uncertain,” said Isidro Morales of the Monterrey Institute of Technology and Higher Education. “Donald Trump is not a person of institutions. Surely it will be a unilateral policy worse than (George W.) Bush and we don’t know what to expect.”

Still, scrapping the trade pact that has so intertwined the two economies seems unlikely even in a landscape of free-trade skeptics.

Trump will have a Republican Congress, but NAFTA originated with Republicans, passed with bipartisan support and was signed into law by Democratic President Bill Clinton.

The most immediate sign of Trump’s impact will be in the peso. Mexico’s currency appeared to track the Republican candidate’s rising and falling fortunes throughout the campaign and it fell sharply Tuesday night. According to Banco Base, the peso dropped 9.56 percent, its biggest daily loss since 1995.

Security analyst Raul Benitez said U.S.-Mexico security cooperation was not a campaign topic so it is unclear what Trump thinks.

Drug lord Joaquin “El Chapo” Guzman is expected to be extradited to face drug trafficking charges in the U.S. early in Trump’s presidency.

“Maybe the part of the relationship with Mexico that sees the least change is security,” Benitez said.

U.S. Ambassador Roberta Jacobson tried to calm nerves. “Change sometimes brings anxiety, but as I have said many times I am confident our relationship is firmly rooted in shared values and interests,” she said in a statement. “That relationship will remain strong to the benefit of both countries.”

In the streets, Mexicans fretted about just how many of Trump’s promises to deport millions of immigrants, revamp trade relations and make Mexico pay for a border wall would come to fruition.

Reyes Isidro, a barista in a small neighborhood coffee shop, said that one way or another he was sure the poor would bear the brunt of Trump’s policies, even in Mexico.