Issuu

business@tribunemedia.net

WEDNESDAY, NOVEMBER 28, 2018

$4.80

RYAN PINDER

Vulnerable sectors: WTO’s ‘initial shock’ may cause wipe-out By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net AN EX-CABINET minister yesterday called for more focus, and specific policy actions, for vulnerable industries that may not be able to withstand the “initial shock” of World Trade Organisation (WTO) membership. Ryan Pinder, now a Graham, Thompson & Company attorney and partner, told a Bahamas Chamber of Commerce and Employers Confederation (BCCEC) breakfast meeting on the WTO that the most “significant challenge” for this nation’s accession is the impact on Bahamianowned industries that rely heavily on existing tariff protection. Using retail as an example, Mr Pinder argued that this industry was already under “tremendous pressure” due to the continued growth in Bahamians shopping online and travelling abroad. He pointed out that, with further tariff reductions stemming from WTO membership, the sector could “disappear” entirely given the ease for consumers to bring in goods from the US. The same applied to Bahamian manufacturers and light industries, who rely heavily on import tariffs to offset their higher production cost bases and maintain price competitiveness with rival imports. Mr Pinder said this sector, though relatively small in terms of its contribution to Bahamian gross domestic

SEE PAGE 5

Tribune Business Reporter

nmckenzie@tribunemedia.net THE Bahamas’ investment rules are “more ill-defined” than anywhere else in the Caribbean, a consultant for the Chamber of Commerce blasted yesterday. Ramesh Chaitoo, a trade and investment consultant with Oxford Economics, told a Bahamas Chamber of Commerce and Employers Confederation (BCCEC) breakfast on the World Trade Organisation (WTO) accession that this nation scored “three out of ten” when it came to having an open economy. He slammed this nation’s lack of predictable and transparent investment regulations, describing the terms on which investors can engage with The Bahamas as “more nebulous” than anywhere in the region. “On the subject of whether this is an open economy, if I have to give it a grade between one to ten, I would put this economy in terms of openness at perhaps three,” Mr Chaitoo said. “Yesterday we meet with the telecoms regulator [the Utilities Regulation and Competition Authority].

$4.56

Bahamian justice hit by six-year legal fight By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

AHAMIAN justice has been denied a fullymodernised Supreme Court registry because of a six-year legal dispute over an alleged multi-million dollar breach of contract. Aaron “Kiki” Knowles, the former FNM strategist, and his Benchmark Publishing Company have been unable to complete a multi-phase project to convert all the court’s records into a searchable electronic database that would transform justice administration

were withheld from them over the five-month period between March-July 2012. Politics then appears to have intervened in the shape of the 2012 general election and the Progressive Liberal Party’s (PLP) victory. The Christie administration likely had little time for Mr Knowles, given his role as both FNM advocate and close association with former prime minister Hubert Ingraham, and Benchmark almost

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Grand Bahama Chamber of Commerce’s president is seeking ways to ease the potential National Health Insurance (NHI) “double whammy” faced by small businesses. Mick Holding, pictured, told Tribune Business in a recent interview that he planned to meet with entrepreneurs in the sector “to understand the degree to which they will be impacted”, and then make recommendations for lessening this to the NHI Authority. He said “some phasingin” of NHI’s employer mandate would likely be beneficial for small businesses, given that many will be required to purchase health insurance for

•NATION GETS ‘3 OUT OF 10’ ON OPENNESS “Under the laws, the processes and procedures of the regulator, the telecoms market is open. It’s also technology neutral, so if a telecoms operator gets a license to supply services, they can use whatever technology is available. “I asked if there were any new entrants in the market; any new requests. Every time I come to The Bahamas I have struggled with internet access, even to do basic e-mails, in any hotel for the last 15 years. Funnily enough, the regulator said they did give a license, which is a long process, but the investor went to the state and was refused. Would you call that an open economy?” Mr Chaitoo added: “The terms of engagement in this economy are more nebulous than you would find anywhere in the Caribbean. If you are trying to get in you have no idea the terms of engagement. That’s the problem; the lack of investment rules and regulations. There is no predictability, no consistency and no

SEE PAGE 5

compared to larger companies where most staff were earning above $25,000. Mr Holding was particularly struck by similar suggestions from the Bahamas Insurance Association (BIA) and Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, that the proposed two percent “payroll tax” for financing NHI be phased in. Both had recommended a starting rate of 0.5 percent, which would double to one percent in the scheme’s second year, before finally rising to the two percent rate in year three. Mr Holding said this could be the answer to small business

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

SEE PAGE 5

SEE PAGE 4

immediately had trouble fulfilling its contract. They are alleging that the Supreme Court registry within two months of the Christie administration’s victory breached their contract by refusing to hand over files for digitising and processing. This persisted for the duration of the PLP’s five-year term, with Mr Knowles and Benchmark

SEE PAGE 4

* GB Chamber chief backs ‘phase-in’ * But urges govt: Stick to timelines * Calls for ‘balance’ with social need their employees for the first time, thereby imposing an additional cost burden in a still-difficult economic environment. Besides the “strain” this might impose, Mr Holding said many small businesses will employ staff earning below the $25,000 annual salary threshold where contributions for NHI’s Standard Health Benefit (SHB) are split 50/50 between employer and employee. As a result, he explained that small businesses may have to pay the majority of the annual $1,000 SHB annual premium for their staff, resulting in a disproportionate burden

Arawak port bulks up as autos fall off

concerns, along with an increase in the annual revenue threshold below which companies will not have to buy NHI coverage on their staff’s behalf. The Chamber chief, whose two-year term in office is due to soon end, said the impact on small businesses was “the only concern” that emerged during a series of public consultations between the NHI Authority and Grand Bahama businesses and residents.

* Registry modernisation delay hurts business * ‘Kiki’: ‘Most egregious’ wait for resolution * Battle ‘conflicts’ key actors in case in The Bahamas. Legal filings obtained by Tribune Business reveal that their rolling contract, which began in 2008 and involved the electronic scanning, logging and indexing of hundreds of thousands of pages, was allegedly first interrupted when it reached “phases six to eight” in early 2012. Mr Knowles and Benchmark claim that $560,000 in due payments, divided into $112,000 monthly sums,

$4.82

A 59,000 TON increase in bulk aggregate imports, combined with a $109,000 year-over-year expenses decline, enabled the Arawak Cay port’s operator to beat profit targets by nine percent. Michael Maura, chief executive of Arawak Port Development Company (APD), told Tribune Business that net income for the three months to endSeptember 2018 was two percent higher than prior year comparatives despite falls in container and vehicle import volumes. It also beat APD’s internal first quarter budget projections by $178,819 or nine percent, although this came largely from a $332,000 expenses cut that pushed costs six percent under estimates. “The unaudited net income for the 2019 first quarter was $2.091m, or two percent higher than the same period the prior year,” Mr Maura confirmed. “Total revenues for the 2019 first quarter were $7.751m or $85,922 under the 2018 first quarter, which was largely attributable to a decline in storage revenue related to the Baha Mar project. “Total operating expenses for the 2019 first quarter were $4.362m or $108,549 less than the 2018 first quarter. Twenty-foot equivalent (TEU) volumes were one percent or 131 over the same period of the 2018 first quarter. “Bulk ton volumes were 59,425 tons more during the 2019 first quarter than the same period in 2018. Finance and depreciation expenses were $1.298m or $26,061 under the 2018 first

Small businesses face potential NHI ‘double whammy’

Bahamas investor rules ‘shakier’ than rest of Caribbean By NATARIO MCKENZIE

$4.82

PAGE 2, Wednesday, November 28, 2018

THE TRIBUNE

‘SIGNIFICANT SCALE’ KEEPS SCOTIABANK IN BAHAMAS By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas’ “significant scale” yesterday prevented its inclusion among nine Caribbean jurisdictions that Scotiabank has announced it plans to exit via a $123m deal. The Canadian-owned

•BANK EXITS NINE OTHER CARIBBEAN NATIONS bank, in a statement released yesterday, revealed it is selling its operations in “non-core markets in the Caribbean” - identified as Anguilla, Antigua,

Dominica, Grenada, Guyana, St Kitts & Nevis, St Lucia, St Maarten and St Vincent & the Grenadines - to Trinidad’s Republic Bank. Scotiabank, though, is maintaining its presence in larger Caribbean territories that yield greater scale and profits, including

The Bahamas, Barbados, Jamaica and Trinidad & Tobago. The sale appears exclusively focused on smaller, more insignificant markets where ever-increasing costs and the growing regulatory/compliance burden make it hard to justify a continued interest. “Due to increasing

regulatory complexity and the need for continued investment in technology to support our regulatory requirements, we made the decision to focus the bank’s efforts on those markets with significant scale in which we can make the greatest difference for our customers,” Ignacio (Nacho) Deschamps, Scotiabank’s group head of international banking, said. “Scotiabank is committed to the Caribbean, as demonstrated by the bank’s ongoing investment in products, services and processes to provide an enhanced banking experience to customers across the region.” The Canadian-headquartered bank is also selling its Jamaica and Trinidad-based insurance operations to Sagicor Financial Corporation, the Barbados-based insurer which holds a 20 percent equity stake in Family Guardian. Scotiabank’s move yesterday further confirms long-held suspicions that the Canadian-owned banks, including Royal Bank of Canada (RBC) and CIBC, have been seeking an exit route from a Caribbean region which has dragged their earnings and balance sheets down since the 20082009 recession as a result of the explosion in non-performing loans. CIBC FirstCaribbean International Bank’s aborted $240m New York initial public offering (IPO) earlier this year was to have been the start of that institution’s exit through selling down its equity, after efforts to achieve a single sale of its whole Caribbean business proved impossible to pull off. Meanwhile, there were

signs that Scotiabank’s deal with Republic Bank is already running into regulatory headwinds, with Antigua and Barbuda’s prime minister already expressing displeasure that local banks had not been given a chance to purchase operations in that country. Gaston Browne, in a letter to Scotiabank’s top executive in Antigua, said: “On behalf of my government, I advise that I am deeply disappointed that the authorities of the Bank of Nova Scotia would decide to sell its operations in Antigua and Barbuda without any form of consultation with the regulators or the finance minister whose agreement and authority for such a sale are required by law.” Branding this as “unacceptable”, he added: “Should the Bank of Nova Scotia wish to divest its operations in Antigua and Barbuda, it would be necessary to seek the government’s approval. In this connection, my government would strongly commend that such divestment should be offered first to local banks as the priority. “Indeed, I am aware that, notwithstanding the unexpectedness of Bank of Nova Scotia’s announcement, a consortium of such banks has already expressed an affirmative interest to acquire.” Mr Browne concluded: “I am further deeply concerned that the Bank of Nova Scotia would spring such an important decision on the people of Antigua and Barbuda, particularly its many clients who have displayed great loyalty to the bank for almost 50 years, providing it with significant profits.”

To advertise in The Tribune, contact 502-2394

MOBILE

APP

Take us with you Everywhere you go!

THE TRIBUNE

Wednesday, November 28, 2018, PAGE 3

VAT HIKE TO OFFSET WTO TARIFF SLASHES By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE Deputy Prime Minister yesterday confirmed that the VAT rate increase’s medium-term goal is to offset revenue loss stemming from WTO-related import tariff cuts. KP Turnquest, pictured, told a Bahamas Chamber of Commerce and Employers Confederation (BCCEC) breakfast that the Government does not view the inevitable reduction in Customs duties, caused by this nation’s accession to World Trade Organisation (WTO) membership, as a “bad thing”. He said: “We anticipated that we would have some reduction in Customs duties. If you look at revenue today, Customs duties are

already being reduced. With increases in VAT last year, after paying some arrears, we are going to be left with a bit of surplus to offset a reduction in border taxes. We are looking at overall tax strategy to determine whether the current model is one to carry forward considering all pressures that exist. “We anticipated reductions in Customs duties. We don’t see that as a bad thing.

We believe we have built in some safeguards and cushions to absorb that and, if we are successful on both ends, it will result in GDP growth.” This nation’s opening WTO offer will require the Government to forego about $40m in Customs duties, Zhivargo Laing, its chief negotiator, has said. Previous studies, though, had placed this figure at between $100m to $200m. Mr Turnquest, meanwhile, pushed back against claims that reduced government spending will result in a reduction in Bahamian economic growth. “I think all would agree that there is tremendous waste and unwise spending over many years. In fact, I think some of the cutbacks that have happened will actually be a net positive to

the economy because it will stimulate the private sector,” he said. “This whole idea about the WTO has pros and cons, no doubt about it. As we have to do in financial services, we have to figure out where The Bahamas is going to be in the world going forward because the fact of the matter is circumstances are changing. The Bahamas is a small country with an open economy, which has inherent risk.” Ava Rodland, project manager at the ministry of financial services, trade and industry and Immigration, said: “The strategy going into negotiations is to maintain those areas that are reserved. Tour operators is one of the areas that is reserved; watersports, boat charters are areas reserved for Bahamians. The

Bahamas committed to marine protection goals THE Bahamas remains committed to setting aside 20 percent of its territorial waters as Marine Protected Areas (MPAs) by 2020, a Cabinet minister has confirmed. Romauld Ferreira, minister of the environment and housing, told the Sustainable Blue Economy Conference in Nairobi, Kenya, that The Bahamas’ pledge covers a further 8.1m acres of ocean. “In 2014, The Bahamas established the Bahamas Protected Areas Fund, and committed $2m to” it, Mr Ferreira said at the conference held from November 26-28. “We announced the significant expansion of our marine-protected areas system to at least ten percent protection, increasing the marine protected area inventory by 11 million acres.” He added that, in 2015,

ROMAULD Ferrerira gives remarks during the Sustainable Blue Economy Conference in Kenya. the Government successfully achieved that goal. Since then, it has committed to advancing the declaration and legal establishment of the remaining ten percent of marine protected areas.

“This would represent 43 newly-proposed marine protected areas, covering more than 8.1m acres of clear, blue ocean,” Mr Ferreira said. “This new commitment will assist The Bahamas to meet its target as a member of the Caribbean Challenge Initiative to set aside 20 percent of marine protected areas by the year 2020, and the goal as envisioned by SDG 14.” Mr Ferreira said that to address solid waste that can affect the ocean, The Bahamas has pledged to ban selected single-use plastics and styrofoam by 2020. “Among the selected single-use plastics for eradication are plastic bags, straws, food utensils, styrofoam food containers and cups,” he said. “In addition to the ban, and in furthering our efforts to curb marine pollution, legislation will be introduced, making the

EXPRESSION OF INTEREST A Bahamian developer is planning a residential development in the Cow Pen Road area and intends to offer a small number of the lots at pre-development prices. They are therefore inviting expressions of interest from prospective qualified purchasers. Interested persons are invited to submit their Expression of Interest by email to cowpenparadise@gmail.com for in this limited, first-come-first serve offer. Contact information must be included, as details will not be available otherwise.

UNIQUE VACATIONS LIMITED VACANCY

Java Developer

Unique Vacations is looking for a Java Developer to work with Java programming language to develop web applications and computer systems. This involves assigning tasks to other team members, designing and testing code, and communicating with clients to analyze their requirements. Job Summary: The Java Developer will be responsible for Identifying and analyzing user requirements. Prioritizing, assigning and executing tasks throughout the software development life cycle. Areas of Responsibility • Identify, analyze and contribute in all phases of the development lifecycle • Develop Java EE applications, write well designed, testable, efficient code and design database architecture and review • Prioritize, assign and execute task throughout the software development life cycle and ensure designs are in compliance with specifications • Prepare and produce releases of software components • Support continuous improvement by investigating alternatives and technologies and presenting these for architectural review Experience/Skills/Qualifications: • BS/MS degree in Computer Science, Engineering or a related subject • 5-7 years proven hands-on Java Software Development experience • 5 years minimum Hands on experience in designing and developing applications using Java EE platforms and Spring Framework • 5+ Years’ experience in Object Oriented analysis and design using common design patterns with trst-driven development • Profound insight of Java and JEE internals (Classloading, Memory Management, Transaction management etc) • Excellent knowledge of Relational Databases, SQL and ORM technologies (JPA2, Hibernate) • Experience in developing web applications using at least one popular web framework (JSF, Wicket, GWT, Spring MVC) Only short-listed candidates will be contacted. Interested persons should submit their applications by November 30th, 2018 with curriculum vitae to hrreport6@gmail.com

release of plastic balloons into the air illegal.” Draft legislation for the ban will be circulated by early 2019, Mr Ferreira said. He added that the enactment of that legislation was expected on January 1, 2020. “We are engaging youth and women, civil society and the private sector,” Mr Ferreira said. “In fact, our private sector partners have taken the lead by replacing many of their single-use plastic and styrofoam products with more environmentally-friendly alternatives. “Additionally, The Bahamas will become a signatory to the Clean Seas Campaign launched by the United Nations Environment Programme by the end of this year.”

intention is to go into negotiations and maintain those reservations. “There is a need for more transparency. Mr Laing has committed to working together with the private sector on this. If we go into the negotiations, and our negotiating partners say we want you to open the tour operations sector, we have every intention of coming back to the tour operators, discussing that and seeing how we proceed. The Government is not going to be making decisions in isolation.” Mike Maura, the Chamber’s chairman, said it had raised $300,000 to have Oxford Economics study the

likely economic impact of this nation’s WTO accession. “The entire project will take six months,” he added. “They are meeting with various sectors and they are conducting interviews. The Government has agreed to take the work they are doing, and take the final report they will produce, and include it into a consideration into what our negotiation needs to be. “This is not just the Chamber saying this is what we came up with, it’s that the Government of The Bahamas has accepted the fact that more information is good and we need to get this right; whether to join or not to join.”

PAGE 4, Wednesday, November 28, 2018

THE TRIBUNE

BAHAMIAN JUSTICE HIT BY SIX-YEAR LEGAL FIGHT

Arawak port bulks up as autos fall off

FROM PAGE ONE

quarter.” Turning to APD’s performance against its own internal forecasts, Mr Maura added: “First quarter 2019 actual unaudited net income was $178,819 or nine percent over budget due to a reduction in operating, depreciation and financing expenses of approximately $332,000 or close to six percent under budget. “Revenues for the 2019 first quarter were under-budget by $153,037, and were mainly attributable to a decline in storage revenue, reefer fees and stevedoring fees. “TEU volumes for the 2019 first quarter were underbudget by 112 TEUs or one

alleging that the contract breach “frustrated” and prevented them securing a further $1.275m of work for “phase nine” of the project - an audit of the entire civil and criminal registry database to eliminate any manual human errors. They claim they are also due reimbursement for some $74,500 in extra expenses incurred after the Attorney General’s Office/ Supreme Court further breached their contract by failing to provide sufficient space and resource for the work to be done on-site at the Supreme Court registry. As a result, Benchmark was forced to rent space elsewhere and pay associated bills. Mr Knowles yesterday told Tribune Business that his now six-year wait for justice was “most egregious”, as his company had been “denied” due compensation for work performed and the ability to secure further business in completing the project. “We had completed from 1857 up to July 2012,” he revealed of Benchmark’s progress. “That was when they withheld payments. We had a period where we were working and they refused to pay us. The most egregious thing for us is our inability to get justice on this issue. That’s being denied to us.” The action by Mr Knowles/Benchmark, first filed on November 13, 2012, has subsequently placed several parties in potentially “conflicted” positions. For the original attorney representing them in the case, Carl Bethel QC, now sits on the opposite side as the defendant following his appointment as attorney general. Mr Bethel has completely recused himself from the matter as a result of his previous representation of Mr Knowles and Benchmark since being appointed attorney general, and there is no suggestion he has done anything wrong.

However, the Attorney General’s Office under the former Christie administration also sought to persuade the Supreme Court that Mr Bethel should be disqualified from representing Mr Knowles/Benchmark because his two-and-a-half years in the Ingraham Cabinet “constitutes a conflict of interest”. The late chief justice, Stephen Isaacs, in an October 4, 2013, ruling dismissed its bid as he “failed to see from the evidence” how Mr Bethel had been privy to confidential information placing the Attorney General’s Office at a disadvantage. And the Supreme Court itself is conflicted, given that it is effectively Mr Knowles’ de facto client and counterparty to the various contracts, although these documents were ultimately signed by the Ministry of Legal Affairs on its behalf. Tribune Business understands that the Supreme Court, recognising how delicate the matter is, has urged both parties - Mr Knowles and the Government - to try and settle without resorting to fullblown litigation. Elsworth Johnson, minister of state for legal affairs, declined to comment on the case yesterday. “The most I can say is that the matter is presently before the courts and I cannot make any public statement on it,” he told Tribune Business. This newspaper, though, understands that the Government machinery is now finally mobilising to respond to Mr Knowles’ claim, and is exploring the possibility of taking the matter to mediation and alternative dispute resolution. Mr Knowles, though, alluded to the “bigger picture” concern for The Bahamas - namely the delay to completing a project designed to bring judicial administration and record-keeping into the 21st century while preventing vital documents from being eaten by rodents. “It puts the judicial

system in a juxtaposition,” he told Tribune Business. “They can be using some of the material now, not all of it, but a good amount to speed up what they’re doing,” Mr Knowles said. “To withhold this from the judiciary, and by extension from the Bahamian people, what can I say about that? “The system, just like the Registrar General’s Department, is very critical to industry, the country and business. When anyone wants to purchase land, they have to research whether there are any liens on it. “This is holding up all searches, industries and people wanting to do business in the country. It’s a difficult juxtaposition for the country to be in; not to have records digitised and accessible to it.” A complete electronic database of all Supreme Court records would make the administration of justice in The Bahamas faster, more efficient and accurate, while making documents more accessible to parties other than attorneys and their clients. It would also result in spin-off benefits to The Bahamas’ “ease of doing business”, reducing time and costs while enhancing this country in the eyes of foreign direct investment (FDI), given that rapid access to the judicial system and swift rulings are among the qualities investors look for. Such databases and electronic record-keeping will also be demanded if The Bahamas is to finally develop an international arbitration centre, and bring its judicial system into line with multiple competitors in financial centres throughout the world who have already gone digital. The scale of the problem, and task faced by Mr Knowles/Benchmark, was outlined in the original 2005 tender document, which revealed that the sheer volume of paperwork was overwhelming a Supreme Court registry

that had long exhausted available filing space. As a result, key records were in danger of being lost and/or destroyed, with the ever-growing bureaucracy making files, cause lists and other documents increasingly difficult to locate. “For hundreds of years the registry in each of its divisions has been storing important documents in non-fire proof filing cabinets and boxes,” the tender confirmed. “As a result of the increased volume of documents and the inadequacy of filing space it has become increasingly difficult to store and retrieve information in a timely manner. “The inadequacy of proper filing space has also created environmental problems throughout the courts as rodents and dampness in storage areas have resulted in the destruction of important documents, records and files.” The first three phases of Mr Knowles’ work required the electronic conversion of 45,000 “cause list” pages, contained in 300 books of 150 pages each, along with 500,000 pages of files stored in 200 boxes and on 50 shelves - some of which had to be stored at the Department of Archives due to lack of space. Last, but not least, were an estimated 3.5m pages contained in 500 shelves and drawers, and for which there was no cabinet space. “Approximately 300 pieces of documents are filed in the registry in its various divisions on a daily basis, and approximately 3,000 new files are created each year,” the tender said. “The Registry has been in its present location for more than ten years and has long since outgrown the space. Additionally, attorneys are filing more and bulkier documents which, of course, creates more storage and access challenges. Lack of storage space also results in an acceptable level of loss or misplaced documents and files.”

MARKET REPORT TUESDAY, 27 NOVEMBER 2018

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

BISX ALL SHARE INDEX: CLOSE 2,024.55 | CHG 0.82 | %CHG 0.04 | YTD -39.02 | YTD% -1.89 52WK LOW 3.50 19.17 7.00 3.32 0.90 0.16 2.25 8.60 6.10 3.54 9.00 2.30 1.50 7.25 6.00 10.10 5.67 3.25 12.50

1050.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 ##########

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

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 4.45 17.43 7.00 4.46 1.01 0.52 2.30 9.30 6.16 4.14 12.42 2.49 1.78 8.00 6.30 12.80 6.75 3.62 13.01

CLOSE 4.45 17.43 7.00 4.90 1.01 0.52 2.30 9.30 6.16 4.14 12.42 2.52 1.78 7.98 6.30 12.80 6.75 3.62 13.01

CHANGE 0.00 0.00 0.00 0.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 -0.02 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00

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

CLOSE 100.00

CHANGE 0.00

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

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

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME 150 1,573

VOLUME

EPS$ 0.214 0.932 -0.306 0.317 0.059 0.000 -0.588 0.700 0.441 0.154 0.627 0.102 0.209 0.000 0.670 0.701 0.578 0.277 0.631

DIV$ 0.100 1.260 0.000 0.240 0.000 0.010 0.000 0.710 0.220 0.120 0.620 0.060 0.060 0.084 0.280 0.500 0.150 0.130 0.600

P/E 20.8 18.7 N/M 15.5 N/M N/M -3.9 13.3 14.0 26.9 19.8 24.7 8.5 N/M 9.4 18.3 11.7 13.1 20.6

YIELD 2.25% 7.23% 0.00% 4.90% 0.00% 1.92% 0.00% 7.63% 3.57% 2.90% 4.99% 2.38% 3.37% 1.05% 4.44% 3.91% 2.22% 3.59% 4.61%

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 Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

MATURITY 19-Oct-2022 ############### 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 2.18 4.16 2.02 182.41 158.55 1.59 1.71 1.67 1.10 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.52 1.68 1.61 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.18 4.16 2.02 182.41 158.55 1.59 1.71 1.67 1.09 7.36 8.47 6.53 11.32 11.67 10.54 9.92 8.69 11.79

YTD% 12 MTH% 2.90% 4.07% 0.44% 4.38% 1.70% 2.35% 2.08% 3.47% 3.35% 5.94% 3.67% 4.43% 0.73% 0.96% 2.88% 3.53% -0.53% 0.27% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 3.96% 7.75% 8.34% 14.88

NAV Date 30-Sep-2018 30-Sep-2018 28-Sep-2018 30-Sep-2018 30-Sep-2018 31-Oct-2018 31-Oct-2018 31-Oct-2018 31-Oct-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018

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

percent. The bulk terminal volumes, however, were overbudget by approximately 23,000 tons, while vehicle imports were under-budget by 365 vehicles or nine percent.” The APD chief then confirmed: “The increase in unaudited net income versus budget and prior year was principally driven by reductions in expenses and an increase in bulk aggregate imports. “TEU volumes remain relatively flat and we do not anticipate any change to this trend for the remainder of the year. We do not expect bulk aggregate imports continuing to beat budget, but we forecast vehicle import volumes to return to budgeted levels.”

Business For sale * New Upscale Casual Takeaway * Turkey Operations & Centrally located * Completely Set-up & Computerized * Established Clientele & 1 year Finances For info email: info@cleanbahamas.com

IN THE SUPREME COURT PROBATE DIVISION In the Estate of Marvin Delone Kerr, late, of Soldier Road East in the Southern District of the Island of New Providence, one of the Islands of the Commonwealth of the Bahamas, deceased. NOTICE Is hereby given that Sophia Kerr and Marvia Kerr of Soldier Road East aforesaid will make application to the Supreme Court of The Bahamas after the expiration of fourteen days from the date hereof, for a GRANT OF LETTERS OF ADMINISTRATION of the real and personal Estate of Marvin Delone Kerr, late, of Soldier Road East in the Southern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased. Dated the 28th day of November 2018.

Sophia Kerr and Marvia Kerr Intended Applicants

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.50 4.90 1.22 0.52 3.92 9.30 6.60 4.93 12.50 2.74 1.78 8.21 6.30 13.20 6.75 4.49 13.50

FROM PAGE ONE

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

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

NOTICE Notice is hereby given that NATASHA TOUSSAINT of Carmichael 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 signed statement of the facts within twenty-eight days from the 21st November, 2018 to the Minister responsible for Nationality and Citizenship, P.O.Box N7147 Nassau, The Bahamas.

In the Estate of Peter Charles Longman late of Woodford Green, Essex, United Kingdom and also of Conchrest East Condominium, West Bay Street, NP Notice is hereby given that all persons having any claims or demands against the abovenamed Estate are requested to send the same duly certified to the undersigned on or before the 21st day of December A.D. 2018. Notice is hereby also given that at the expiration of the time above mentioned the assets of the deceased will be distributed among the persons entitled thereto having regard only to the claims of which the Executor shall then have had notice. Holowesko Pyfrom Fletcher Attorneys for the Executor Chambers Templeton Building, Lyford Cay Nassau, Bahamas

THE TRIBUNE

Wednesday, November 28, 2018, PAGE 5

Small businesses face potential NHI ‘double whammy’ FROM PAGE ONE He argued that the Government should stick to its current NHI roll-out timetable rather than subject it to further delay, given that providing access to healthcare for Bahamians who cannot afford it was “a high priority” equal to economic growth. Recalling the eight NHI consultations on Grand Bahama, six of which were held with Chamber members, Mr Holding told Tribune Business: “The only concern that came across was those small businesses, with less than 100 employees, that do not provide insurance are going to have to start to bear a cost that, in a particularly difficult economic climate in Grand Bahama, could put a strain on their business. “And if they’re paying people less than $25,000, and quite a few of these businesses probably are, they will have to make up

more than 50 percent of the balance of the employee’s two percent. “Quite a number of those small businesses may have employees earning below that $25,000 a year, which is the figure where contributions are split 50/50 with employees. It’s a bit of a double whammy for them,” he added. “They might be paying more than those with employees earning more than $25,000 a year, and at the moment the economy is difficult.” The NHI Authority’s consultation paper on the revised scheme already proposes to phase-in the socalled “employer mandate”, with contributions by companies with 100 employees or less - including small businesses - only taking effect in January 2021. While NHI’s SHB funding mechanism is progressive in the sense that workers with lower incomes contribute less to their premium than those with higher salaries,

this results in their employer having to pay more. For example, Bahamians earning $25,000 per annum or more will split contributions 50/50 with their employer, each paying $42 per month. However, while workers earning $10,000 and $15,000 will have to pay $17 and $25 per month, respectively, their employers must pay the $67 and $58 balances. As a result, the increased labour costs may result in some companies electing to shed their most vulnerable employees - those on the lowest incomes - and disincentivise them from new hires. Mr Holding told Tribune Business that the current NHI proposal “could well result in that” impact for Bahamian employees, and he added: “It’s my intention, having heard the concerns of the smaller business owners, to get together with them and maybe write to Dr [Robin] Roberts and his NHI team highlighting their concerns because this isn’t a

done deal yet. “It’s really a draft. It may well be that there’s some flexibility. The idea of sitting down with those businesses affected is to understand the degree to which they will be affected and, through that, develop some sort of policy. I need to talk to the people, understand their concerns before I make any recommendations.” Mr Holding also echoed a proposal by the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) that the $100,000 NHI exemption threshold be adjusted to reduce the burden on small businesses. While the Nassaubased Chamber believes this threshold is “way too low”, and should be raised to $500,000, Mr Holding instead suggested that it start higher but be progressively lowered to $100,000. “It may well be that the threshold, instead of being $100,000, start at $200,000 and then be decreased to $150,000 and then to

$100,000 so people will not be immediately impacted,” he told Tribune Business. The GB Chamber president said that while he understood calls for the revised NHI scheme to be further delayed, given the impact on business costs and worker incomes so soon after the 60 percent VAT rate hike, the need to provide all Bahamians with affordable, accessible healthcare was just as pressing. Arguing that the two demands needed to be balanced, Mr Holding told Tribune Business: “I can understand that, but on the other hand we’ve got people that cannot afford healthcare and that’s also a high priority to do something about. “This is not purely economic. There’s a huge social side to it. One has to balance these two things. I’d be inclined to stick to the timescale but require some phasing-in to help the small business community.

“It depends on where you sit in the economy. It’s s difficult issue. Some businesses can afford it and others may find it very difficult. I don’t think you stop the while thing because some businesses are finding it difficult; you just find a way to help them with the implementation.” Mr Holding praised Dr Roberts and his team for doing “an excellent job” in consultations that were attended by 50-60 Grand Bahama Chamber members. “I think the general consensus was that this was an excellent plan,” he said. “It’s going to help those people that currently may be denied medical care on the basis they cannot afford it. “It was generally supported that this was very much a move in the right direction. Nobody had a word of criticism about the product itself. Everybody thought it was a good idea that companies will have to take out insurance through the insurance companies.”

Bahamas investor rules ‘shakier’ than rest of Caribbean FROM PAGE ONE

transparency.” He said this also worked to the disadvantage of Bahamian companies, and helped to sow discord and claims that some investors - especially foreign competitors - received more favourable treatment, including greater tax breaks and other incentives, from the Government. “I noted that during recent local consultations, domestic producers have continually argued that the terms of engagement, to them, seems to be different for foreign investors,” Mr Chaitoo said. “This is the result of investment relationships that are individually carved out so that big guys get special deals and the little guys don’t. That is why you need predictable rules of investment.”

The Government has repeatedly argued that one of the benefits from full WTO membership, which The Bahamas hopes to achieve by mid-2020, is that it will give investors - Bahamian and foreign - more certainty over the regulatory regime for their businesses. The WTO’s rules-based trading regime will force The Bahamas to codify its existing National Investment Policy in statute law, making it less vulnerable to sudden change at the whim of the existing government and creating a more predictable regime for business. Successive governments have talked about converting the National Investment Policy into law since the last Ingraham administration, something that was picked up by Ryan Pinder, the former financial services minister who had

responsibility for trade. Now a Graham, Thompson & Company attorney and partner, he argued that there needs to be the “political will” to advance the necessary laws to deal with the issues raised by Mr Chaitoo. “The investment law is there. Talk to the Government to advance it,” he said. “We need the political will to advance it. The competition law was drafted when I was minister, and the investment law was drafted when I was minister. “WTO is not an excuse of political will. If you are going to do it, do it. We are a self-governing country for many decades. We can put in whatever laws we want. We do not need WTO to put laws in place. We have to have the political will and willingness to do it. We do not have the political make-up in the country to do it and that is a fact.”

Ava Rodland, a project manager at the Ministry of Financial Services, Trade & Industry and Immigration, agreed that the “greatest barrier” to foreign direct investment entering and participating in the Bahamian economy is the National Investment Policy. “Right now, any foreign investor has to go through and get approval of Cabinet,” she said. “They go and hire a lawyer, put together a proposal and don’t know how Cabinet is going to respond. That is a disincentive for investment because investors want the security and predictability to know what are the conditions that they have to meet.” She added: “While tourism and financial services have been targeted for FDI, and perhaps the barriers are lower because government tends to permit entry of those providers, we are not going to experience

VULNERABLE SECTORS: WTO’S ‘INITIAL SHOCK’ MAY CAUSE WIPE OUT FROM PAGE ONE

product (GDP), has a significant impact on the economy in terms of employment. “In negotiations when I was minister, in speaking with the water, mattress and paint manufacturers, just a five percent variance in their peak [tariff] rate can really prescribe destruction for their industries,” he warned. “Although the Government has said it it will pursue a ‘peaks and valleys’ structure in negotiations, we don’t know what the peaks are. I would ask for a little more transparency on specific rates.” Mr Pinder’s “peaks and

valleys” comment refers to a negotiating strategy where The Bahamas seeks to maintain existing high tariff rates on products/industries that are vulnerable to competing imports, while reducing others to meet the average tariff rate demanded by the WTO. The rules-based trading regime, which views import tariffs as barriers to trade rather than a revenue-raising mechanism, requires The Bahamas to reduce its average tariff rate from the current 32 percent to 15 percent upon obtaining full membership. This nation will likely be given a three to

five-year transition period to make the adjustment. Meanwhile, turning to the agricultural sector, Mr Pinder asked: “Do we have the infrastructure and ability for farmers and fishermen to comply? What about Family Island farming communities; do they have the ability to comply with sanitary and phytosanitary regulations? I don’t know if we can withstand the initial shock to see the prolonged growth that is forecasted.” Mr Pinder said there has been a shift towards more multilateral trade agreements, and added: “If you look at the global economy

today I think there is a trend towards more multilateral trade agreements. In the last five years there have been a number of multilateral agreements put in place. The vulnerabilities of The Bahamas’ economy need to be address with more specificity.” Ramesh Chaitoo, a trade and investment consultant working with Oxford Economics, argued: “The problem with plurilateral agreements is that when you’re little you have very little leverage. Small countries have very little protection in plurilateral agreements.”

growth of this economy. At a certain point we are going to plateau. At a certain point the market reaches capacity. “With tourism and financial services we can see that we are already there. What that means is we have to look at other areas and diversify our economy. We do have a number of impediments in some other areas, with the single biggest one being our investment policy.”

Ms Rodland said she was not advocating for the Government to remove its discretion to review investment proposals, but added that it should start to look at formalising the process and making it more predictable for investors. “It’s not just going to benefit foreign investors, but would also mean that Bahamians would know the process, what their government is doing and how Cabinet operates,” she added.

THE TRIBUNE

Wednesday, November 28, 2018, PAGE 7

US AMBASSADOR ANGERS POLES WITH LETTER TO PRIME MINISTER WARSAW, POLAND Associated Press THE US ambassador to Poland triggered anger in Poland with a letter to the prime minister that takes his government to task over its treatment of a US-owned independent television station. The letter from Ambassador Georgette Mosbacher circulated in Polish media yesterday. It misspells the last name of Prime Minister Mateusz Morawiecki and addresses him with the wrong title, as well as misspelling the name of the interior minister. Overall, ties between the US and Poland are good and Poland is lobbying for a permanent US military base that it has promised to name “Fort Trump”. Poland’s conservative, nationalist government also has a lot of ideological similarities with US President Donald Trump. It was not clear who leaked the letter and government officials seemed eager to play it down. Mosbacher, a Trump appointee, said she wrote to express “deep concern” over government treatment of

have to figure this out, it is getting in the way of the really important things.” The US Embassy in Warsaw said it “cannot comment on official diplomatic correspondence”, a statement many interpreted as confirmation of the letter’s authenticity. Polish commentators said they found the tone and the mistakes to be disrespectful. Mosbacher made similar remarks about media freedom in a meeting in parliament last week, prompting deputy prime minister, Jaroslaw Gowin, to cancel a meeting with her, according to Polish media reports. Krystyna Pawlowicz, a lawmaker with the ruling party, wrote in a tweet addressed to Mosbacher: “I DEMAND from you respect for the Polish people and the Polish state and its democratically elected authorities.” Some critics of the Polish government said they agreed with the basic message of the letter. Human rights groups and the European Union have been expressing concerns about the state of democracy in Poland over new laws that have eroded

GEORGETTE Mosbacher stands next to an American flag after receiving her credentials as new United States ambassador to Poland in Warsaw. Moshbacher has triggered anger on social media yesterday with a letter allegedly sent to Poland’s prime minister that takes his government to task over its treatment of a US-owned independent television station. Photo: Czarek Sokolowski/AP TVN, a Polish broadcaster owned by the US company Discovery. The station is seen in Poland as representing a liberal viewpoint critical of the conservative government. TVN broadcast undercover footage in January that showed members of a Polish neo-Nazi group celebrating

Adolf Hitler’s birthday last year. Recently authorities said they wanted to prosecute the undercover reporter on suspicions of propagating fascism, a move denounced by some as absurd and an attempt to harass the station. The plan was dropped on Sunday.

“I hope that members of your government will refrain from attacking, let alone prosecuting, independent journalists, who articulate public interests and strengthen our societies,” she wrote in the Nov 19 letter. In a handwritten note at the bottom she added: “We

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 58° F/14° C Low: 41° F/5° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Periods of sun; breezy, not as warm

Partly cloudy

Partial sunshine

Mostly sunny and delightful

Clouds and sun with a shower

A couple of showers possible

High: 75°

Low: 63°

High: 77° Low: 67°

High: 81° Low: 70°

High: 84° Low: 72°

High: 85° Low: 72°

AccuWeather RealFeel

72° F

63° F

80°-65° F

81°-68° F

86°-77° F

92°-79° F

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.

almanac

ABACO

High: 69° F/21° C Low: 66° F/19° C

12-25 knots

High: 64° F/18° C Low: 45° F/7° C

12-25 knots

FT. LAUDERDALE

FREEPORT

High: 66° F/19° C Low: 50° F/10° C

W S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 60° F/16° C Low: 42° F/6° C

High: 70° F/21° C Low: 59° F/15° C

MIAMI

High: 66° F/19° C Low: 49° F/9° C

10-20 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 88° F/31° C Low .................................................... 70° F/21° C Normal high ....................................... 80° F/27° C Normal low ........................................ 69° F/20° C Last year’s high ................................. 81° F/27° C Last year’s low ................................... 72° F/22° C Precipitation As of 1 p.m. yesterday .................................. trace Year to date ............................................... 44.28” Normal year to date ................................... 38.21”

ELEUTHERA

NASSAU

High: 75° F/24° C Low: 63° F/18° C

High: 75° F/24° C Low: 69° F/21° C

KEY WEST

High: 71° F/22° C Low: 63° F/17° C

High: 77° F/25° C Low: 70° F/21° C

8-16 knots

8-16 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

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

tiDes For nassau Low

Ht.(ft.)

Today

11:39 a.m. -----

High

Ht.(ft.) 3.2 -----

5:17 a.m. 6:13 p.m.

0.0 0.0

Thursday

12:14 a.m. 12:40 p.m.

2.6 3.0

6:21 a.m. 7:13 p.m.

0.2 0.0

Friday

1:21 a.m. 1:43 p.m.

2.6 2.9

7:31 a.m. 8:14 p.m.

0.3 0.0

Saturday

2:27 a.m. 2:46 p.m.

2.7 2.8

8:41 a.m. 0.3 9:13 p.m. -0.1

Sunday

3:30 a.m. 3:47 p.m.

2.8 2.7

9:47 a.m. 0.2 10:07 p.m. -0.1

Monday

4:27 a.m. 4:43 p.m.

3.0 2.7

10:48 a.m. 0.1 10:58 p.m. -0.2

Tuesday

5:19 a.m. 5:34 p.m.

3.1 2.6

11:43 a.m. 0.0 11:45 p.m. -0.3

sun anD moon Sunrise Sunset

6:36 a.m. 5:20 p.m.

Moonrise Moonset

11:05 p.m. 11:40 a.m.

Last

New

First

Full

Nov. 29

Dec. 7

Dec. 15

Dec. 22

CAT ISLAND

judicial independence and the ruling party’s transformation of public media into a propaganda tool. Michal Szuldrzynski, a commentator at the Rzeczpospolita newspaper, said the incident could signal a deterioration of relations with Washington and noted critically that the “antiAmerican hysteria” was being unleashed amid new Russian aggression against Ukraine. He said that the while aspects of the letter were unfortunate, the Polish government has shown signs that that it would restrict media freedom if it could. “And if in the name of freedom of speech the American ambassador writes that politicians shouldn’t attack media, one could spitefully say that an identical letter should be sent to President Donald Trump,” Szuldrzynski wrote. TVN, bought for $2bn by the US company Scripps Networks Interactive, was the largest US investment ever in Poland. Scripps has since been bought by Discovery, Inc, based in Silver Spring, Maryland.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 79° F/26° C Low: 71° F/22° C

High: 78° F/26° C Low: 72° F/22° C

High: 77° F/25° C Low: 67° F/19° C

LONG ISLAND

insurance management tracking map

High: 80° F/27° C Low: 73° F/23° C

8-16 knots

MAYAGUANA High: 83° F/28° C Low: 75° F/24° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 80° F/27° C Low: 74° F/23° C

GREAT INAGUA High: 84° F/29° C Low: 77° F/25° C

N E

High: 81° F/27° C Low: 74° F/23° C

8-16 knots

6-12 knots

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

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS NW at 12-25 Knots N at 6-12 Knots N at 8-16 Knots ENE at 7-14 Knots NNW at 8-16 Knots NNE at 6-12 Knots NNW at 7-14 Knots NE at 8-16 Knots NNW at 8-16 Knots NNE at 6-12 Knots NNW at 12-25 Knots NNE at 6-12 Knots NW at 8-16 Knots NE at 6-12 Knots NW at 6-12 Knots NE at 8-16 Knots NNW at 8-16 Knots NE at 7-14 Knots NW at 7-14 Knots NNE at 7-14 Knots NNW at 7-14 Knots NNE at 6-12 Knots N at 8-16 Knots NE at 8-16 Knots NW at 8-16 Knots NNE at 6-12 Knots

WAVES 6-10 Feet 3-6 Feet 3-5 Feet 1-3 Feet 3-6 Feet 2-4 Feet 1-3 Feet 1-3 Feet 3-6 Feet 3-5 Feet 4-8 Feet 2-4 Feet 1-3 Feet 1-2 Feet 1-2 Feet 2-4 Feet 1-3 Feet 1-2 Feet 3-5 Feet 4-8 Feet 2-4 Feet 1-2 Feet 1-3 Feet 1-3 Feet 3-5 Feet 1-3 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 80° F 80° F 82° F 81° F 81° F 80° F 83° F 83° F 80° F 78° F 80° F 80° F 82° F 81° F 84° F 84° F 83° F 83° F 85° F 85° F 81° F 79° F 83° F 82° F 81° F 80° F

Covering The Bahamas for over 40 years. NEW PROVIDENCE | GRAND BAHAMA | ABACO | ELEUTHERA | EXUMA

INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS

HOME INSURANCE

LIFE INSURANCE

AUTO INSURANCE

MARINE INSURANCE

www.InsuranceManagementBahamas.com

PAGE 8, Wednesday, November 28, 2018

THE TRIBUNE