12232021 BUSINESS

business@tribunemedia.net

THURSDAY, DECEMBER 23, 2021

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Investors flocked to take up port’s shares By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net NASSAU Cruise Port Ltd (NCP) was “oversubscribed” with over 3,500 investors for a $25m Bahamas Investment Fund (BIF) equity offering. The NCP, in a statement to the media, said: “The BIF equity offering, which sought to raise $25m to support the cruise port redevelopment project, has been successful. The public offering, which was led by Colina Financial Advisors Ltd. (CFAL), was oversubscribed due to overwhelming support from Bahamians. Over 3,500 investors applied for shares. “’This equity offering was truly a once-in-a-lifetime investment opportunity, and we are thrilled that so many Bahamians embraced it and affirmed their confidence in the project through their participation,’ said Mike Maura, Jr., chief executive officer of NCP. “We are grateful to everyone who chose to put their hard-earned

MIKE MAURA JR.

ANTHONY FERGUSON

dollars into this project. Those who invested have not only contributed to the redevelopment of the port, but more broadly, are supporting the growth and future of our country. As a Bahamian, I cannot think of a better investment.” Anthony Ferguson, President of CFAL, echoed Mr MaurA’s sentiments and confirmed the next steps. ‘We’re extremely pleased by the response from Bahamians in the BIF offering,” he said. “Our team is currently reviewing applications and confirming details to complete the process. As communicated previously, shares will be allotted using a bottom-fill approach so that as many applicants as possible will be confirmed as shareholders.’ He added: ‘We will maintain contact with investors regularly and will update them and the BIF website with pertinent information as it becomes available.’” “Our projections show that 2022 and 2023 will be very successful for the port, and beyond that, our

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Retailers finally have something to cheer By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net “CHRISTMAS Eve will tell the tale” for one retailer as this Christmas sales season is certainly better than last year, but it is still not quite at 2019 levels. Tanya Bain, retail manager at the Perfume Bar, told Tribune Business that she attributes the Christmas decorations as the core reason why tourists are leaving the cruise ships

to come downtown to shop for Christmas gifts for their loved ones. Ms Bain said: “All in all things are beginning to turnaround. So, we’re hoping that this is the beginning of a new 2022.” This year was supposed to be the breakout year for retailers coming the disastrous 2020 when most businesses were either forced to close down due to the COVID-19 pandemic, or were forced into extreme

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Despite failed hotel acquisition investor remains committed By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net ROYAL Caribbean Cruise Line (RCCL) remains committed to Grand Bahama through its 40 percent stake in the Grand Bahama Shipyard, despite having to step aside from the Grand Lucayan Resort acquisition. RCCL in a statement yesterday in response to them being kicked off of the deal for the purchase of the Grand Lucayan Hotel, said: “Bahamas Port Investments Limited (BPI), Royal Caribbean Group’s joint venture with ITM Group, and Lucayan Renewal Holdings

Limited/ Lucayan Beach Casino Holdings Limited, the owners of the Grand Lucayan Resort in Grand Bahama, have mutually agreed to terminate BPI’s contract to purchase the Grand Lucayan after ITM Group made the decision not to proceed with the acquisition. BPI will continue with its plans for a cruise port redevelopment project in Grand Bahama. “Royal Caribbean remains committed to working with the Government

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Exemptions order extension welcome ‘but we need more’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net ABACO Chamber of Commerce president Ken Hutton says the extension of the Special Economic Recovery Zone (SERZ) order for Abaco needed to be for three years, not one. Mr Hutton told Tribune Business: “We are very pleased that the SERZ has been extended for another year. Obviously we would have preferred it to be longer than that, but we’ll take what we can get for right now and continue to work on getting more improvements to it.” The government announced yesterday the SERZ orders for Abaco and Grand Bahama which were set to expire this coming December 31 have been extended to December 31, 2022. John Pinder II, Member of Parliament for North Abaco, said in a note to the media: “This extension supports the Davis administration’s commitment to

KEN HUTTON assist the people of Abaco and Grand Bahama with the ongoing restoration and rebuilding of homes and businesses, which were extensively damaged or destroyed by the passage of category five Hurricane Dorian in 2019.” The SERZ exemption applies to, building materials, plumbing fixtures and materials, electrical fixtures and materials, household furniture, furnishings & appliances, hardware

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Congratulations The Partners & Staff of KPMG congratulate Felicia Cox on the successful completion of the Uniform Certified Public Accountant (CPA) examination. Upon completion of Felicia’s secondary education at Queen’s College in 2014, she was awarded the National Bursary Scholarship to attend The College of The Bahamas, now the University of the Bahamas. One year later, Felicia started her journey at The University of the West Indies (UWI), Cave Hill Campus, where she obtained a Bachelor of Science in Accounting and Finance with First Class Honours in 2018. During her tenure at UWI, Felicia was actively involved in the STAT program and The Association of Bahamian Students (TABS).

After graduating, Felicia joined the firm on a full-time basis in January 2020 and is now an Audit Senior. In November 2021, Felicia successfully completed the Uniform Certified Public Accountant (CPA) Examination.

Felicia pursued a post graduate degree in Accounting and graduated with Distinction in 2020 from The University of The West Indies, Mona Campus.

Felicia extends her heartfelt gratitude to her parents Franklyn and Gloria, and twin sister Felice for their unwavering support, encouragement, and sacrifice throughout this journey. Felicia would also like to thank her family and friends for their prayers and support. Special thanks is extended to the Partners and the KPMG Family for their encouragement and the opportunity for growth and professional development.

She first encountered KPMG during the Junior Achievement (JA) Company program during 2011 – 2014 and later joined KPMG as an intern in 2017. During that year, she received the Michael Fielder Scholarship award.

Felicia is most grateful to God for keeping and carrying her throughout this journey and acknowledges that this would not be possible without His peace that has surpassed all understanding and His wisdom. Felicia is guided by 2 Timothy 1:7 “God has not given you the spirit of fear but, power, love and a sound mind”.

© 2021 KPMG, a Bahamian partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved

International Limited, a private English company limited by guarantee. All rights reserved.

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Thursday, December 23, 2021, PAGE 3

EXEMPTIONS ORDER EXTENSION WELCOME - ‘BUT WE NEED MORE’

FROM PAGE ONE supplies and replacement vehicles. Mr Hutton also said: “In previous orders we did have construction services included, which was your electricians, plumbers, air conditioning guys, your landscapers and you know landscaping is very important and key part of building. You can’t just have

rocks in your driveway after you have finished building, you have got to have plants and everything. “But we will take this as a win right now under the understanding that we need to keep pushing and we need to keep looking at having an extension for another two years.” He added: “I think one of the biggest things for a longer extension is the

labour issue. Here it takes such a long time to get things done because there is a lack of labour here. “So, even though you are rebuilding your house, even though you might be able to start it now, you might not be able to find a contractor for about six months to get started on it and by that time the exemptions have halfway ran out.”

Labour issues have plagued the Abaco reconstruction efforts since Hurricane Dorian in September 2019, mainly because there is no place to house labourers on the island because most homes were destroyed by the hurricane. Another major issue with the SERZ only being extended for another 12 months is the fact things

RETAILERS FINALLY HAVE SOMETHING TO CHEER FROM PAGE ONE COVID-19 restrictions including curb side service, online or delivery service. Despite those efforts things had not worked out very well under those COVID-19 restrictions in 2020 so retailers are hoping the economy begins to turnaround. When comparing this Christmas season with

2019, Ms Bain said: “I think sales are still down by about 20 percent from 2019, but we have a few more days to go in December before Christmas Day. Christmas Eve tells the tale, so if we see the same numbers as we did in 2019 then we can definitely say we have turned the corner.” Ms Bain also said, however, the success of her downtown stores is not

translating to the stores throughout the rest of the island. “The other stores are still struggling because a lot of them depend on local shoppers,” she said. “That’s where the bulk of their money comes from. While a lot of people have gone back to work, a lot are still not working or are just going back to work during the holidays.”

Madeline Dean, store manager at Body Beautiful in the Mall at Marathon, said: “I think this Christmas season has been quite successful, but I don’t think it is as successful as 2019 but we are certainly a lot better than 2020. “ Carol Rollins, general manager of Fashion on Broadway in the Mall at Marathon said: “Things

take a long time to get started in the country particularly for development projects, from approvals, labour pooling, getting finances in order and importation of special materials, to which Mr Hutton agreed is the main problem of the year extension. “The fact that it’ll be extended does not necessarily mean work is going to start immediately,

particularly with the new construction where permitting and environmental regulations all have to be done,” he said. “Those alone take several months and by the time of the approvals you are at the end of your first quarter and it might take you another month or two to mobilize them and before you know it you are already half way through the year.”

are going pretty well. But before the pandemic we had a little more sales, but we still aren’t doing too bad. She said the business is just 10 percent down compared with 2019, Ms Rollins. “We have been handling our customers with care, we are doing our best,” she said. “We have the sanitizer here for them and if it gets too crowded we limit the amount of people we have coming inside.”

Most of Fashion Broadway’s Christmas items came in ahead of schedule this year which helped in avoiding widespread supply chain shortages and challenges with shipping. Another Mall at Marathon shop owner, wanting to speak under condition of anonymity, said things are “excellent” in her store. “We have a nice sale going on and we have been able to handle the customers coming into the store as a result of it.”

INVESTORS FLOCKED DESPITE FAILED HOTEL ACQUISITION INVESTOR REMAINS COMMITTED TO TAKE UP PORT’S SHARES FROM PAGE ONE

FROM PAGE ONE outlook is extremely positive. Nassau Cruise Port is well-positioned and prepared for growth, which our investors will certainly benefit from. Mr Maura added the port project’s success in raising $244m in debt financing during this pandemic and today’s successful BIF $25m equity offering highlights the great value proposition of The Bahamas. “We truly have much to be grateful for. Let’s continue to work to make our Bahamas even better for our guests and for

Bahamian generations to come,” he said. “The funds raised will be used to complete the redevelopment of recreational, entertainment, shopping and food and beverage spaces; to complete marine construction work; and to support the development, design, engineering and inspection related costs of the project.. “The redevelopment of the port will be completed by the third quarter of 2022. Operations at the port will continue without interruption during the construction phases.”

of The Bahamas and the people of Grand Bahama to support the government’s vision for the transformation of the tourism product and offerings in Grand Bahama.” The statement continues, “Upon learning of ITM’s withdrawal, RCCL immediately began searching for a new partner with experience as an established operator in the land-based hospitality industry. “We look forward to participating in the new public bid process for the purchase of the Grand Lucayan once a bid is issued by the Government of The Bahamas. The transformation of the Grand Lucayan into a premier entertainment resort

will complement our plans for the development of a world-class cruise port facility in Freeport to reestablish Grand Bahama as one of the world’s most popular cruise destinations. “We look forward to providing regular updates on Grand Bahama where Royal Caribbean is also investing in the $450m transformation of the Grand Bahama Shipyard, in which Royal Caribbean holds a 40 percent stake. The transformation will position the facility to be the best of its kind in the world.” RCCL also said: “In addition to investing capital into the revitalization of Grand Bahama, Royal Caribbean is committed to leveraging its millions of customers, international marketing and

vast travel partner distribution network to ensure the success of the destination.

“RCCL maintains a strong relationship of more than 50 years with The Bahamas and reigniting economic growth and development including entrepreneurial opportunities in Grand Bahama remains a key priority.

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BAHAMAS TAXATION REGIME - REVISITED T

HE Bahamas taxation regime is in need of reform. In Part I we looked at recent discussions around the taxation regime. Recently there was two articles carried in a local newspaper looking from different perspectives at the issue. On one side, the argument made was that income tax reform is inevitable, on the other a stark warning not to be dragged into income tax by the IMF. The essential message of the first was to take a careful look at this development and be strategic in the approach to it, being cognizant of the need to protect the financial services industry. The other argued for not having changes imposed but rather ensuring that there are reforms that suit the country and guard against levying a significant burden on the middle and lower classes. The closing paragraph of Part I stated: “While there is influence, observe carefully that I state none of the preceding points from the perspective of the EU/ US/OECD 15 percent

minimum corporation tax initiative. This is all about where The Bahamas is and what needs to be done to protect and fix The Bahamas.” This I believe is the fundamental issue to be grappled with. Discussions are often quickly narrowed to a few rigid options such as “no income tax”; “some supranational organization is out to get the country”; “we do not want to pay any more taxes”. The reality is though that while these are reasonable issues to consider, none of these represents the correct approach for analysis. The country could potentially pay a significant price if we fail to accept the main reasons for considering broad-based tax reforms are generally all internal. The external matters cannot be ignored but in my opinion, they create much less of an urgency than the current economic state of affairs of the country. There is a clear need for taxation reforms but the challenge is to firstly accept this fact and then consider how to get it done.

Back in March, in the article “A Taxing Affair Ahead”, I wrote to this effect: “How it is done is where the rubber meets the road and the devil will be in the details. However, we certainly are at a point where I think it [taxation reforms] will be seriously considered. It is important to note that some of the factors that made The Bahamas vibrant and highly successful have changed and continue to change rapidly, factors such as population size, quantum of debt, growth rate of debt, more expansive and expensive public services demands, and potentially declining national revenue [during the heights of COVID-19]. All these exert adverse pressure on the current revenue space. “With a very limited tax base it is akin to solving a mathematical problem. If too many factors are held fixed, the desired solution will not be derived. With changing demands and the pressure of debt repayments and lack of revenue, it is reasonable to anticipate an upward shift in the level

of tax burden to be borne by citizens and residents. Any honest discussion on the breadth of the tax base though, would never ignore the offshore segment. The segment holds great potential for broadening the tax base, however, there are also significant challenges that could follow as such moves will disrupt the settled position of The Bahamas’ value proposition in that arena.” This in my mind is part of where the focus of all discussion around taxes should be. Is there a fundamental need for increased taxes? If yes, what form should any increased takes take; and how any such consideration might adversely affect the current economic arrangements? Where the country is currently draws, or ought to draw, close scrutiny on the sufficiency of government tax revenue. The structure of the economy will, or ought to, fuel concerns about the range of options available. This is the tightrope the country must walk and the primary reason calls for comprehensive studies are being made. The March article explored aspects of this “tightrope”: “While one would expect a reasonable

weighing of the pros and cons, there is an important wrinkle with which The Bahamas must contend. This requires a level of urgency and seriousness that could render moot, everything we have discussed to this point, to change or not to change the tax system. In fact, it is so important that once one develops a full appreciation thereof, it would undoubtedly lead one to question - why is there not greater effort in this direction? The European Union (EU) recently lamented the fact that countries such as The Bahamas was removed from its black listing in a manner which it described as being based only on making ‘minor tweaks’. The EU has emphatically stated that by the end of 2021, it will review the criteria and the expectation is that the changes will strike closely at the heart of the country’s financial services industry. Based on the EU’s standard, The Bahamas is dead centre in its crosshairs, as it relates to its ingoing harmful taxation campaign. The criteria for identifying a jurisdiction with potentially harmful measures include an effective level of taxation that is significantly

Hubert Edwards By

lower than the general level of taxation in the country concerned; tax benefits reserved for non-residents; tax incentives for activities, which are isolated from the domestic economy and therefore have no impact on the national tax base. This exists in The Bahamas and plays out in the offshore financial sector. At the core of most decisions is the benefit to be derived because of no existing corporation or other forms of income taxation”. On one hand, objective analysis will show there is an insufficient level of tax revenue, as evidence by perennial deficit spending. If that perspective is not palatable then it can be restated to acknowledge

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BAHAMAS TAXATION REGIME - REVISITED FROM PAGE 4 that given the country’s level of expenditure the country decides to employ annually, government revenue is consistently insufficient to cover it. Therefore, nothing that has the potential to erode the revenue levels cannot be ignored. This is the troubling impact and potency of the EU/US minimum 15 percent corporation tax initiative. By itself, the 15 percent imposition does not pose a great current issue due mainly to the concentration of the financial services offerings, however, the conditions to be attached to the inclusion and subsequent removal from any adverse listing are just too critical to be ignored. Again, we should not focus on what they might do but look internally and consider what could be potentially lost and given the discussed timeline, the urgency for having a comprehensive study, a naturally slow process, to guide decision. As stated before, I am convinced the issues to be considered now are those that are needed most urgently to change our fiscal status. There are also other important longer-term strategic matters to bear in mind. This was captured in the March article where I stated, “The EU has concluded that its process of blacklisting and removing jurisdictions requires greater transparency. This call is certainly a self-serving effort to help address what the EU considers as being an ineffective process for the blacklisting of jurisdictions. The EU has initiated reform of the overall blacklisting process, together with refining the definition of harmful tax practices and the listed criteria thereof. Various institutions have proffered recommendations as to where they think this should head. Oxfam International, for example, in a paper

recommends “blacklist zero and low corporate tax jurisdictions: make zero and low corporate tax rates a standalone criterion of the EU tax haven list; include economic analysis to identify harmful regimes; use levels of foreign direct investment and passive income as red flags for the identification of tax havens; and properly screen EU countries: EU countries must be held to the same if not higher standards than non-EU countries’’. The arguments offered by the EU, as it seeks to give greater potency to its effort, parallels Oxfam’s statement. The EU states very clearly, “criterion to judge if a country’s tax system is fair or not needs to be widened. Countries should not be removed from the blacklist if they only make symbolic tweaks. Additionally, a zero percent tax rate policy should automatically lead to being placed on the blacklist.” This pronouncement provides a window into the fact that current matters around taxation, driven by global organizations are simply what has materialize so far from their ongoing and ever evolving initiatives, which keeps improving (adversely for us) in potency. It is against this backdrop that I wrote in March, “If the above materialized at the end of the year [not likely at this stage but still should not be ignored] then certainly, The Bahamas financial services sector will see some level of disruption. It begs the question therefore, ‘What exactly are we doing at this time?’ Beyond concerns about the usefulness, suitability, equity, regressive-ness of our current tax regime, there lies a potential external threat that has the ability to impose on us that which we seem fully committed to avoiding [income/ corporation tax] together with adding a level of uncertainty to our second most important source of export [financial services].

The new pronouncement by the EU on the black listing criteria (no country with zero corporation tax should be left off) could add great potency to their campaigns against jurisdictions such as The Bahamas. The proposed criteria for a 12.5 percent minimum effective tax rate [with the US support, 15 percent is now the likely level] together with “zero rate and you are on the listing” is certainly designed to be a major game changer in their effort”. As noted above the taxation debates are always too narrow. They tend to either focus on what may be external drivers or limiting internal desires, but as shown, the issues are deep and important. Taking the preceding into account it should be clear the reignited discussion is necessary but needed to be carefully guided. The rush to judgement one way or another could hurt the delicate balance on which an optimal outcome rests. A major factor in this whole process is the sentiment of the public that feeds into the views of the political directorate and hence the need for clear, sober and informed debates and narratives. Where we are today contemplating the suitability of the country’s taxation regime is not new but is now more urgent. One of the reason the matter is so very challenging today is in part of a failure to address it on a timely basis over a number of years in the past. A continuation of this approach

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could be detrimental to the wellbeing of the country. No one can claim to have clear answers to the most optimal solutions that fixe bad protect the country. I certainly do not. What I seek to do here is to draw awareness to the multiplicity of issues surrounding this and why narrow conversations will not serve the cause of the country. Amongst other important matters, a national debt of $10B, deficits averaging $500M, 18% of expenditure

Thursday, December 23, 2021, PAGE 5 paying interest on loans and a narrow 18% Revenue-toGDP, the time is “perfect” to consider whether this low tax intake is beneficial for the country.Coupled with the issues discussed here is it time for change, for reforms, to not only the tax regime but also other areas that may provide new perspectives on sufficiency of revenue? Part III will consider how turning the debate to explore the internal realities of the country may be the best way of approaching this very challenging matter.

* Hubert Edwards is the Principal of Next Level Solutions Limited (NLS), a management consultancy firm. He can be reached at info@nlsolustionsbahamas. com. Hubert specializes in governance, risk and compliance (GRC), Accounting and Finance. NLS provides services in the areas of enterprise risk management, internal audit and policy and procedures development, regulatory consulting, anti-money laundering, accounting and strategic planning. This and other articles are available at www.nlsolutionsbahamas. com.

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TRUCKS line up to enter a Port of Oakland shipping terminal on Wednesday, Nov. 10, 2021, in Oakland, Calif. The U.S. economy grew at a 2.3% rate in the third quarter, the Commerce Department said Wednesday, Dec. 22. But prospects for a solid rebound going forward are being clouded by rising worries about the rapid spread of the new omicron virus. Photo:Noah Berger/AP

US ECONOMY GREW AT 2.3% RATE IN Q3, UP FROM EARLIER ESTIMATE By MARTIN CRUTSINGER AP Economics Writer

WASHINGTON (AP) — The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Wednesday. But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus. The third and final look at the performance of the gross domestic product, the nation’s total output of goods and services, was higher than last month’s estimate of 2.1% growth. The new-found strength came primarily from stronger consumer spending than what was previously thought, as well as businesses rebuilding their inventories more than initial estimates revealed. The 2.3% third quarter gain follows explosive growth that began the year as the country was emerging from the pandemic, at least economically. Growth soared to 6.3% in the first quarter and 6.7% in the second quarter. The emergence of the delta variant in the summer was blamed for much of the third quarter slowdown.

professor Loyola Marymount University in Los Angeles. Oxford Economics has trimmed its forecast for economic growth for the current quarter from 7.8% to 7.3%, which would still represent a sizable rebound from the third-quarter slowdown. After Sen. Joe Manchin voiced opposition to his party’s spending plans, Goldman Sachs cut its GDP forecast to 2% from 3% for the first quarter, 3% from 3.5% for the second quarter, and 2.75% from 3% in third quarter. Kathy Bostjancic, chief U.S. financial economist for Oxford, said the firm’s current assessment was that the resurgence of COVID19 could reduce growth next year from 4.3% to 4.1% and that if Biden’s Build Back Better program is completely derailed, that could likely shave another 0.4 percentage points in 2022, lowering it to around 3.7% and chop a half-point from growth in 2023, reducing it to below 2%. She said under these assumptions, job growth could be 750,000 lower by this time next year if economic growth slows as much as she fears. “Omicron has been so

“Omicron has been so rampant. We think it is going to take a pretty big toll on economic activity.” Kathy Bostjancic Now with the appearance of the omicron variant, coming on top of high inflation and lingering supply chain issues, there are concerns that growth could be constrained heading into 2022. Those fears have sent the stock market on a turbulent ride in recent days, although new optimism that the omicron risks will be manageable sent the Dow Jones Industrial Average soaring 560 points Tuesday and rising another 261 points on Wednesday. President Joe Biden convened on Wednesday a meeting of his supply chain disruptions task force virtually and in-person in Washington, where he touted what he said was significant progress in alleviating bottlenecks at the ports and other issues that had created shortages of goods and contributed to higher prices for consumers. Biden said that retail inventories are up 3% from last year and on-shelf availability for products is at 90%, close to where it was before the pandemic. “Packages are moving. Gifts are being delivered. Shelves are not empty,” Biden said. Still, it is what is unknown that is of concern to many economists, who say it is far too early to declare an allclear on the threats posed by the new variant. “History is repeating itself with the COVID virus suddenly reappearing and dampening economic growth prospects,” said Sung Won Sohn, an economics and business

rampant,” Bostjancic said. “We think it is going to take a pretty big toll on economic activity.” And it is not just the resurgence of COVID that could hold the economy back next year. Inflation has spiked to the highest level in nearly four decades, prompting the Federal Reserve to start pulling back the massive amounts of support it has been providing to the economy as it switches from trying to boost job growth to fighting inflation. Economists expect GDP growth this year to come in around 5.5%, which would be the best showing since 1984 and a reversal from last year when the economy shrank by 3.4% and the global pandemic erased 22 million jobs early in the year. Wednesday’s report showed that consumer spending, which accounts for two-thirds of economic activity in the U.S., grew at a 2% rate in the third quarter, down from the 12% surge in the April-June quarter, but up from last month’s estimated quarterly gain of 1.7%. It is the uncertainty of what is to come, however, that is now concerning economists. “The omicron variant poses a downside risk in the near term as do supply-chain disruptions and shortages that could be a constraint for households and businesses over coming months,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.

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Thursday, December 23, 2021, PAGE 7

BIDEN AND DEMS SCRAMBLE TO SALVAGE SOCIAL, CLIMATE PACKAGE By LISA MASCARO AND FARNOUSH AMIRI Associated Press

WASHINGTON (AP) — President Joe Biden, along with progressive and moderate Democrats, appears determined to return to the negotiating table with Sen. Joe Manchin, the holdout Democrat who effectively tanked the party’s signature $2 trillion domestic policy initiative. In the days since the West Virginia lawmaker gave a thumbs down on the package, delivering a stunning blow to months of negotiations on Biden’s agenda, Democrats of the left and center have joined the White House in attempting to salvage the social services and climate change bill. “We have worked too long and too hard to give up now, and we have no intention of doing so,” Rep. Pramila Jayapal, head of the Congressional Progressive Caucus, said in a statement Wednesday. Jayapal said she and members of the caucus have expressed the need for the White House to pursue achieving the plan’s goals through a combination of Biden’s executive powers and legislation, instead of legislation alone. “The legislative approach, while essential, has no certainty of timing or results,” she said, “and we simply cannot wait to deliver tangible relief to people that they can feel and will make a difference in their lives and livelihoods.”

At the same time, White House officials have spoken with Rep. Suzan DelBene, D-Wash., chair of the House’s centrist New Democrat Coalition, on its plan to scale back the number of provisions but have them stay in effect longer. Manchin said he supports that approach but progressives have warned against reducing the number of initiatives laid out in the framework the White House released in late October. But Republicans are voicing greater confidence now that they can beat back much of what they don’t like in the package. “As we ended the year, it looks to me like they couldn’t swallow the spinach,” Sen. Mitch McConnell, the Senate Republican leader, said Wednesday of the Democrats. Biden spoke Tuesday about the families who would benefit from the Democrats’ ambitious, if now highly uncertain, plan to pour billions of dollars into child care, health care and other services. “Senator Manchin and I are going to get something done,” Biden said. The president’s off-thecuff remarks were his first public statement since Manchin’s announcement over the weekend that he would not support the bill, as is. Since then, Senate Majority Leader Chuck Schumer told Democrats on a 90-minute video call to expect a vote in January on the package. Schumer told senators the party was “not giving up” on the proposal, according

to a Democrat who was on the private call Tuesday and provided details on condition of anonymity. But the Democrats face serious questions over whether the initiative can be refashioned to win Manchin’s crucial vote and head off a devastating defeat for the party. Manchin and his party are so far apart, his relationships so bruised after months of failed talks, it’s unclear how they even get back to the negotiating table, let alone revive the more than 2,100-page bill. All of that is encouraging to McConnell. “Now, I know Schumer said last night on a call he’s not giving up,” the Kentucky Republican told the Hugh Hewitt Show. “I don’t expect him to do, but the worst of BBB, it appears to me, is dead.” He used the shorthand for the Build Back Better plan. Biden spoke forcefully of the economic pressures that strip away the “dignity of a parent” trying to pay the bills, and the assistance millions could receive from the federal government with the legislation. He also said his package would help ease inflationary pressures and pointed to analyses suggesting it would boost the economy. “I want to get things done,” Biden said. “I still think there’s a possibility of getting Build Back Better done.” The setback has thrown Biden’s top legislative effort into deep doubt at a critical time, closing out the end of the president’s first year

SEN. JOE MANCHIN, D-W.Va., a centrist Democrat vital to the fate of President Joe Biden’s $3.5 government overhaul, updates reporters about his position on the bill, at the Capitol in Washington, Thursday, Sept. 30, 2021. Despite months of being courted and cajoled, Sen. Joe Manchin is still not a yes on President Joe Biden’s big $2 trillion domestic package and has thrown Democrats into turmoil. Photo:J. Scott Applewhite/AP

and before congressional midterm elections when the Democrats’ slim hold on Congress is at risk. Coupled with solid Republican opposition, Manchin’s vote is vital on this and other initiatives, including the Democrats’ priority voting rights legislation that Schumer also said would come to an early vote. Schumer has said that if Republicans continued to block voting rights legislation in January, the Senate would bring forward

proposals for changing the Senate rules, a Democrat on the video call said. That’s a nod to long-running efforts to adjust or end the filibuster, which typically requires a 60-vote threshold for measures to advance. While Manchin has said he cannot explain the bill to constituents in West Virginia, a union representing coal miners, including some of the nearly 12,000 from his home state, urged the lawmaker to “revisit his opposition” to the package.

Cecil Roberts, president of the United Mine Workers of America, outlined the ways the package would benefit union members, such as those in West Virginia, the most coaldependent state in the country. Some of those provisions would extend the current fee paid by coal companies to fund benefits received by victims of coal workers’ pneumoconiosis, or black lung.

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THE TRIBUNE

RUSSIAN PIPELINE FACES BIG HURDLES AMID UKRAINE TENSIONS By DAVID MCHUGH AND VLADIMIR ISACHENKOV Associated Press FRANKFURT, Germany (AP) — The pipeline is built and being filled with natural gas. But Russia’s Nord Stream 2 faces a rocky road before any gas flows to Germany, with its new leaders adopting a more skeptical tone toward the project and tensions ratcheting up over

Russia’s troop buildup at the Ukrainian border. The pipeline opposed by Ukraine, Poland and the U.S. awaits approval from Germany and the European Union to bypass other countries and start bringing natural gas directly to Europe. The continent is struggling with a shortage that has sent prices surging, fueling inflation and raising fears about what would

come next if gas supplies become critically low. The U.S. has stressed targeting Nord Stream 2 as a way to counter any new Russian military move against Ukraine, and the project already faces legal and bureaucratic hurdles. As European and U.S. leaders confer on how to deal with Russia’s pressure on Ukraine, persistent political objections — particularly

from EU members like Poland — add another challenge to one of Russian President Vladimir Putin’s key projects. Former German Chancellor Angela Merkel backed the pipeline, and the country’s new leader, Olaf Scholz, did so as her finance minister. But his new government took a more distanced tone after the Greens party joined the

GN 2654

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Junior Software Developer

Government Digital Transformation to Strengthen Competitiveness: Junior Software Developer Country: The Commonwealth of The Bahamas Supporting Institution: Inter-American Development Bank Programme: Government Digital Transformation to Strengthen Competitiveness Project Number: BH-L1045 Loan Number: LO-4549 / OC-BH Sector: Reform / Modernization of the State Sub-Sector: E-Government Deadline: 6 January, 2022 Post: Junior Software Developer Post Location: Nassau, Bahamas Reports to: The ICT Specialist

governing coalition. The Greens’ campaign position was that the fossil fuel pipeline doesn’t help fight global warming and undermines strategic EU interests. New German Vice Chancellor Robert Habeck and Foreign Minister Annalena Baerbock have said the project doesn’t meet EU anti-monopoly regulations. “Nord Stream 2 was a geopolitical mistake,” Habeck recently told the newspaper Frankfurter Allgemeine Sonntagszeitung. “The question is open if it will be able to start operating,” adding that further “aggression” meant “nothing is off the table.” Officials have not said what sanctions or other tools might be used on top of existing U.S. sanctions against ships connected to the project. As chancellor, Scholz has been cautious in his comments, and it’s not clear if he’s willing to go as far as U.S. Secretary of State Antony Blinken, who has said it’s “very unlikely” that gas will flow if Russia “renewed its aggression” toward Ukraine. Pressed on whether an invasion would halt the pipeline, deputy German government spokesman Wolfgang Buechner said Nord Stream 2 is “an

undertaking of a private business that is largely completed” and that regulatory approval “has no political dimension.” He stressed that military aggression would have “high costs and sanctions,” without saying what those might be. Scholz “never makes things completely clear,” said Stefan Meister, an expert on Russian energy policy at the German Council on Foreign Relations. “So I am not sure under which conditions he would really agree to stop the pipeline.” Still, Meister said, there was “a new tone, a new rhetoric from the new German government.” The pipeline would double the volume of gas pumped by Russian-controlled gas giant Gazprom directly to Germany, adding to a similar pipeline under the Baltic Sea and circumventing existing links through Poland and Ukraine. Gazprom argues it would allow more reliable long-term supply and help save billions in transit fees paid to Poland and Ukraine. Gazprom says the pipeline is part of its role as a long-term supplier of affordable energy to Europe, which is heavily dependent on natural gas imports.

The Office of the Prime Minister (OPM) of the Commonwealth of The Bahamas has received financing from the Inter-American Development Bank (IDB), toward the cost of the Government Digital Transformation to Strengthen Competitiveness and intends to apply part of the proceeds for the consulting services of three (3) Junior Software Developers. The consulting services (“the Services”) include participating in the development, testing and implementation activities while assisting in the design of software applications to meet both functional and technical requirements. The contractual position is 12 months renewable annually based on satisfactory performance. Main responsibilities include: Modifying, developing, writing and implementing software programming applications. Analysing technical application requirements and meaningfully contribute to design reviews. Assisting in the collection and documentation of user's requirements, development of user stories, and estimates.  Maintaining, documenting and supporting existing client websites and applications.  Resolving bugs and improving the performance of existing software.  Providing software installation and updates for various environments.  Ensuring and monitoring the systems security.  Enabling the sustainability of the systems by documenting, updating and using industry standards such as version control systems, security copies, code scans or vulnerability scans of the solutions.  Developing new features and functionalities.  Testing and debugging applications before production release.  Analysing and resolving technical and application problems.  Working on the development of internal tools.  Participating in the planning, designing, developing and deploying of new applications and enhancements to existing applications.  Developing, supporting and maintaining APIs.  Performing DB analysis, writing queries, views, stored procedures, triggers, etc.  Evaluating and suggesting industry standard tools and methods.  Collaborating on projectsZ Yh ^d &KZ yWZ ^^/KE^ K& /Ed Z ^d in an agile, team-driven environment.  Working with other team members to find innovative and efficient solutions. Junior Software Developer  Communicating and collaborating with Support and Development teams.  Working with teammates in maintenance tasks and upgrades on existing systems. ● Providing support to senior developers and business users. ● Performing other duties as required   

The successful candidate should have the following            

Mandatory Passing of Software Development Test A minimum of an Associate’s Degree or equivalent in Computer Science or Technology At least two (2) years working experience with one or more of the following: PHP, JavaScript, Python, SQL, and HTML. At least two (2) years working experience with APIs in a Linux and/or cloud environment. Strong problem solving and analytical thinking skills. Solid testing and debugging skills. The ability to multi-task in a data-intensive environment with accuracy. Must possess the talent, drive and the ability to work independently Must be a quick and adaptable learner, with the ability to perform in team settings within a deadline-driven and a rapidly changing environment. Strong organizational skills. Effectively prioritize work and manage time and projects. Strong communication and interpersonal skills. Willingness to learn new languages/platforms as needed

Bonus Skills  At least two (2) years’ experience with Object Oriented Languages using REST services and databases.  Previous experience in Customer support.  Previous experience working on SaaS projects.  Exposure to web services development ● Any web development certifications such as AWS, MuleSoft, Oracle, Azure. The Office of the Prime Minister now invites eligible Consultants to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants will be selected in accordance with the National Competitive Bidding Selection procedures set out in the IDB’s: Policies for the Selection and Contracting of Consultants financed by the IDB and it is open to all eligible bidders as defined in these policies. Consultants will be selected in accordance with the International Competitive Bidding Selection method set out in Selection and Contracting of Firms Policies. Only Short-Listed Individuals will be contacted. Further information can be obtained by E-mail: DTUPROCUREMENT@bahamas.gov.bs. All CVs and qualification documents must be submitted Re: Junior Software Developer to E-mail: DTUPROCUREMENT@bahamas.gov.bs on or before 5:00 pm on 6 January 2021.

THE RUSSIAN pipe-laying ship ‘Akademik Tscherski’ which is on deployment for the further construction of the Nord Stream 2 Baltic Sea pipeline is moored at the port of Mukran on the island of Ruegen, Germany, on Sept. 8, 2020. Russia’s natural gas pipeline to Europe is built and ready to flow. But not so fast. The Nord Stream 2 pipeline faces a rocky road ahead. First there’s statement by the U.S. secretary of state that gas won’t flow if Russia launches military aggression against Ukraine. Photo:Jens Buettner/AP

NOTICE Borr Baug Limited

NOTICE IS HEREBY GIVEN in accordance with Section 138(4) of the International Business Companies Act, (no. 45 of 2000) as follows: (a) Borr Baug Limited (the “Company”) is in dissolution under the provisions of the International Business Companies Act, 2000. (b) The dissolution of the said Company commenced on the 22nd day of December, 2021 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Ms. Jonell Rolle. Dated the 22nd day of December, 2021. H&J CORPORATE SERVICES LTD. Registered Agent for the above-named Company

NOTICE NOTICE is hereby given that GERANIE PIERRE of Taylor Street off East Street, 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 16th day of December, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that HERMANA JOSEPH of 2nd Miller’s Height , P.O. Box AP59223, Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of December, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Thursday, December 23, 2021, PAGE 11

STOCKS RISE ON WALL STREET AHEAD OF CHRISTMAS HOLIDAY By DAMIAN J. TROISE AND ALEX VEIGA AP Business Writers STOCKS closed broadly higher on Wall Street Wednesday, adding to the market’s gains this week ahead of the Christmas holiday. The S&P 500 rose 1% after coming back from an early slide. The other indexes also recovered after sliding into the red in the early going. The Dow Jones Industrial Average rose 1.1% and the Nasdaq closed 1.2% higher. The Russell 2000, a measure of small-company stocks, rose 0.9%. Every major U.S. index is still on track for weekly gains after a choppy several days where stocks bounced between sharp losses and solid gains. “We’ve had strength yesterday and today, so the markets are generally positive this week

following a fair amount of pressure last week,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. The S&P 500 rose 47.33 points to 4,696.56. The index is now within 0.4% of the all-time high it set Dec. 10. The Dow gained 261.19 points to 35,753.89, while the Nasdaq rose 180.81 points to 15,521.89. The Russell 2000 gained 18.96 points to 2,221.90. The latest surge in coronavirus cases because of the omicron variant has been hanging over markets, along with concerns about rising inflation and its impact on economic growth. The Commerce Department on Wednesday said the U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought. But prospects for a solid rebound going forward are

being clouded by the rapid spread of the latest variant of the coronavirus. “The market is a little uncertain about that (omicron), but seems somewhat convinced that it isn’t going to turn into another lockdown,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. Even so, the uncertainty over the latest variant’s

impact on the economy is likely to cause more stock market swings. “Clearly, the pace of economic recovery is being held hostage by omicron, and that’s resulting in increased volatility,” Sandven said. “By our metric, volatility is likely to be more the norm versus the exception, and for good reason.”

Governments in Asia and Europe have tightened travel controls or pushed back plans to relax curbs already in place. In the U.S., President Joe Biden announced Tuesday the government will provide rapid-test kits and increase vaccination efforts but gave no indication of plans for restrictions that might disrupt the economy.

Investors have also been busy shifting money between sectors as the close of the year approaches and they prepare for higher interest rates in 2022. The Federal Reserve has said it will hasten the process of cutting its bond purchases that have helped maintain low interest rates and that opens the door to rate increases from the central bank in 2022.

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Junior Computer Incident Response Team (CIRT) Analyst

Government Digital Transformation to Strengthen Competitiveness: Business Analyst Country: The Commonwealth of The Bahamas Supporting Institution: Inter-American Development Bank Programme: Government Digital Transformation to Strengthen Competitiveness Project Number: BH-L1045 Loan Number: LO-4549 / OC-BH Sector: Reform / Modernization of the State Sub-Sector: E-Government Deadline: 6 January, 2022 Post: Junior Computer Incident Response Team (CIRT) Analyst Post Location: Nassau, Bahamas Reports to: The CIRT Analyst

A PEDESTRIAN passes the New York Stock Exchange, Nov. 30, 2021, in New York. Stocks are wavering between small gains and losses in the early going on Wall Street Wednesday, Dec. 22, in muted trading heading into the Christmas holiday. Photo:John Minchillo/AP

The Office of the Prime Minister (OPM) of the Commonwealth of The Bahamas has received financing from the Inter-American Development Bank (IDB), toward the cost of the Government Digital Transformation to Strengthen Competitiveness and intends to apply part of the proceeds for the consulting services of three (3) Junior Computer Incident Response Team (CIRT) Analysts. The consulting services (“the Services”) include assisting in protecting national and economic security, the ongoing operations of the Government, and the ability of critical infrastructures to continue to function. The contractual position is 12 months renewable annually based on satisfactory performance. Main responsibilities include: ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Reports to the CIRT Analyst. Monitors security dashboards to view events and alerts of potential threats, intrusions and indicators of compromise. Provides Tier I support by analysing network traffic and various logs to determine potentially malicious activity. Proactively identify gaps and suggest possible improvements on procedures and configuration standards. Assist with investigating cybersecurity-related incidents, forensic investigations, and incident response; collect, summarize, and chronologically document security event information. Remediates and apply lessons learned to security incident investigation and resolution. Support and maintain security technologies and test security solutions using industry-standard analysis criteria. Documents security incidents in a tracking system. Identifies and executes projects that improve intrusion detection and incident response capabilities to ensure that enterprise security risks are detected, communicated and managed. Document and escalate unresolved security issues to the next level of support in accordance with the procedures and contractual Service Level Agreements (SLAs). Performs vulnerability assessments and health checks for Critical Information Infrastructure (CII). Develop and deliver security awareness training to internal and external stakeholders Document, mitigate and correct security deficiencies identified during security assessments. Works a flexible shift, which may include either working on a weekend, on a public holiday or at Z Yh ^d &KZ yWZ ^^/KE^ K& /Ed Z ^d night. Computer Incident (CIRT) Analyst Lead cybersecurityJunior projects assigned byResponse the CIRTTeam Analyst Any other duties as assigned. Performing other duties as required

The successful candidate should have the following ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

A minimum of a Bachelor's Degree in Computer Science/ICT/Engineering – Electronics, Telecommunications, Computer or any relevant area, from an accredited college/university. Professional Certification in any related field such as CISA /Security +/ Network +/ CEH shall be added advantage. Possess at least one (1) year of working experience in the Cybersecurity/Information Security/Information Technology Excellent analytical, communication, and organizational skills would be an asset. Knowledge of cybersecurity and IT frameworks such as ITIL and COBIT, ISO 27001, CIS, NIST, CIS, CSF is preferred. Excellent organizational and communications skills (written, listening and verbal). Familiarity with intrusion detection and protection, log management, firewalls, and anti-virus systems. Knowledge of a range of security concepts, protocols, and supporting security tools to analyse multiple data sources to identify indicators of compromise. Knowledge of cyber-security threats, vulnerabilities, controls and remediation strategies in mobile devices and telecommunications infrastructure enterprise environment. Knowledge of risk assessments and cryptographic technologies. Demonstrates analytical and diagnostic skills. Ability to document security events and analyse them clearly and concisely. Self-starter who demonstrates initiative and is willing to assume responsibility. Good interpersonal skills to interact with customers, team members, and support personnel. Knowledge of cybersecurity best practices, current cyber threats and vulnerabilities, attack methodology, and basic understanding of the cyber risk profile of The Bahamas Residence with the right to work in the Commonwealth of The Bahamas is mandatory.

The Office of the Prime Minister now invites eligible Consultants to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants will be selected in accordance with the National Competitive Bidding Selection procedures set out in the IDB’s: Policies for the Selection and Contracting of Consultants financed by the IDB and it is open to all eligible bidders as defined in these policies. Consultants will be selected in accordance with the International Competitive Bidding Selection method set out in Selection and Contracting of Firms Policies. Only Short-Listed Individuals will be contacted. Further information can be obtained by E-mail: DTUPROCUREMENT@bahamas.gov.bs. All CVs and qualification documents must be submitted Re: Junior CIRT Analyst to E-mail: DTUPROCUREMENT@bahamas.gov.bs on or before 5:00 pm on 6 January 2022.

PAGE 12, Thursday, December 23, 2021

THE TRIBUNE

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Senior Software Developer

Government Digital Transformation to Strengthen Competitiveness: Senior Software Developer Country: The Commonwealth of The Bahamas Supporting Institution: Inter-American Development Bank Programme: Government Digital Transformation to Strengthen Competitiveness Project Number: BH-L1045 Loan Number: LO-4549 / OC-BH Sector: Reform / Modernization of the State Sub-Sector: E-Government Deadline: 6 January, 2022 Post: Senior Software Developer Post Location: Nassau, Bahamas Reports to: The ICT Specialist The Office of the Prime Minister (OPM) of the Commonwealth of The Bahamas has received financing from the Inter-American Development Bank (IDB), toward the cost of the Government Digital Transformation to Strengthen Competitiveness and intends to apply part of the proceeds for the consulting services of three (3) Senior Software Developers. The consulting services (“the Services”) include leading the development, testing and implementation activities while assisting in the design of software applications to meet both functional and technical requirements. The contractual position is 12 months renewable annually based on satisfactory performance. Main responsibilities include: ● Managing the execution of multiple concurrent software development activities ensuring deadlines are being met, including metrics for software quality and security ● Participating throughout all stages of the software development lifecycle ● Leading the design, development and/or modification of front-end applications and integration with services ● Leading the planning, designing, developing and deploying of new applications and enhancements to existing applications. ● Leading DB analysis/design, including writing queries, views, stored procedures, and triggers ● Leading user experience and system design and specifications, programming logic and flow-charting, developing, testing, debugging, documenting, and supporting ● Ensuring and monitoring the systems security. ● Enabling the sustainability of the systems by documenting, updating and using industry standards such as version control systems, security copies, code scans or vulnerability scans of the solutions. ● API design, development, testing and documentation using SOAP or REST technologies. ● Working independently on complex programming tasks and perform code reviews of various development tasks ● Assignment of software development tasks to the Junior Developer(s) ● Providing analysis of problems and recommending solutions ● Overseeing and setting direction for the front-end team, ensuring reliable, secure software with minimal bugs ● Evaluating and suggesting industry standard tools and methods. ● Establishing and tracking metrics related to key performance objectives and service levels ● Developing, implementing and enforcing best practices and operating standards ● Identifying and escalating potential concerns and recommending viable solutions ● Maintaining proficiency with Application Security requirements and best practices ● Reviewing Software Requirements documentation and providing feedback to the Business Analysts to improve the quality of the documentation ● Assisting Business Analysts with the development of User Acceptance Tests ● Assisting Business Analysts and Testers with the execution of User Acceptance Tests Z Yh ^d &KZ yWZ ^^/KE^ K& /Ed Z ^d ● Implementing automated unit and integration tests and ensures the practice is followed consistently SoftwareTeam, Developer ● Analysing issues escalated by L2 Help Senior Desk Support recommending solutions including code fixes ● Recommending process, feature, and code changes based on analysis of recurring customer issues ● Implementing approved code changes ● Performing other duties as required

The successful candidate should have the following    ●

 ● ● ● ● ● ● ● ● ● ● ● ● ●

Mandatory Passing of Software Development Test Associate’s degree or equivalent in Engineering, ICT, or Applied Mathematics Excellent and demonstrated programming skills in at least one computer language. Fast learner and quickly adaptable in a dynamic, rapidly changing team-oriented environment. 1 or more years of experience developing and trouble-shooting software for commercial public facing web applications such as MyGateway At least 3 years’ working experience with PHP, JavaScript, Python, SQL, and HTML. At least 3 years’ working experience with Linux and cloud environments Strong problem solving and analytical thinking skills. Solid testing and debugging skills. Ability to multi-task in a data-intensive environment with accuracy. Talent, drive and the ability to work independently and in team settings within a deadline-driven environment. Strong organizational skills and able to effectively prioritize work and manage projects. Strong communication and interpersonal skills. Good time management skills. Willingness to learn new languages/platforms as needed. Working knowledge of cloud based software development Exposure to web development using React and CSS3 Familiarity with Scrum methodology or other agile development processes.

The Office of the Prime Minister now invites eligible Consultants to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants will be selected in accordance with the National Competitive Bidding Selection procedures set out in the IDB’s: Policies for the Selection and Contracting of Consultants financed by the IDB and it is open to all eligible bidders as defined in these policies. Consultants will be selected in accordance with the International Competitive Bidding Selection method set out in Selection and Contracting of Firms Policies. Only Short-Listed Individuals will be contacted. Further information can be obtained by E-mail: DTUPROCUREMENT@bahamas.gov.bs. All CVs and qualification documents must be submitted Re: Senior Software Developer to E-mail: DTUPROCUREMENT@bahamas.gov.bs on or before 5:00 pm on 6 January 2022.

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THE TRIBUNE

Thursday, December 23, 2021, PAGE 13

STORMY WEATHER MEANS RAINY, SNOWY CALIFORNIA CHRISTMAS SAN FRANCISCO (AP) — Rain and snow showers fell on Northern California on Wednesday in the first wave of a wet weather pattern that is expected to spread throughout the state and last through Christmas and into next week, forecasters said. Forecasters warned that holiday travel,

especially through high passes, would be affected by multiple rounds of rain, mountain snow and gusty winds. Winter storm warnings were scheduled to go into effect in sections of the Sierra Nevada as early as Wednesday afternoon or by Thursday morning and last through Sunday, the

National Weather Service said. Chain requirements were already in effect for vehicles on some stretches of routes through the Sierra, according to the California Department of Transportation. Rainfall was light to moderate around the San Francisco Bay Area and

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

was slowly spreading down the coast. Widespread rain wasn't expected in Southern California until Thursday. Forecasters said a flood watch would be in effect Thursday evening through Friday morning due to possible excessive rainfall from an atmospheric river pointed at the region.

The Public is hereby advised that I, NICOLE NEWBOLD of Twynam Heights, P.O.Box CR-55918, New Providence, Bahamas, parent of PEYTON DARIELLE TERRELLI a minor, intends to change my child’s name to PEYTON DARIELLE TIRELLI. 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.

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Government Digital Transformation to Strengthen Competitiveness: Public Relations Officer Country: The Commonwealth of The Bahamas Supporting Institution: Inter-American Development Bank Programme: Government Digital Transformation to Strengthen Competitiveness Project Number: BH-L1045 Loan Number: LO-4549 / OC-BH Sector: Reform / Modernization of the State Sub-Sector: E-Government Deadline: 6 January, 2022 Post: Public Relations Officer Post Location: Nassau, Bahamas Reports to: The Programme Manager The Office of the Prime Minister (OPM) of the Commonwealth of The Bahamas has received financing from the InterAmerican Development Bank (IDB), toward the cost of the Government Digital Transformation to Strengthen Competitiveness and intends to apply part of the proceeds for the consulting services of a Public Relations Officer. The consulting services (“the Services”) include assisting in the publicity initiatives of The Government Digital Transformation to Strengthen Competitiveness Project directed at mass audiences. The Public Relations Officer shall monitor and develop the corporate reputation of the Digital Transformation Unit, have editorial responsibility for the project executing unit’s website and all other related collateral. The contractual position is 12 months renewable annually based on satisfactory performance. Main responsibilities include:

●

Contributing to the development of The Digital Transformation Unit’s public and stakeholder communication strategies and associated budgets with a focus on mass audiences Conceptualizing, planning, executing and evaluating The Digital Transformation Unit’s public relations initiatives (with a particular focus on audio-visual material) and events in conjunction with the parties involved and on the basis of researching, managing, and controlling all aspects including the production of any sub-contracted elements as appropriate Performing contract administration for the designated Public Relations Firm to ensure that they are performing against set performance criteria Monitoring and actively developing the corporate reputation of the Digital Transformation Unit and its attendant project (s) inclusive of building links with sectoral stakeholders Taking responsibility and advising the development for the various digital assets. This includes coordinating with the colleagues responsible for providing support services Acting as the main point of liaison and co-ordination with assigned Public Relations Firm and the Digital Transformation Unit and actively participate in the implementation of the various projects Performing crisis management on all matters related to the Digital Transformation Project Liaising with, and answering enquiries from media, individuals and other organizations, often via telephone and email Researching, writing and distributing press releases to targeted media Collating and analyzing media coverage Writing and editing in-house magazines, speeches, and articles Preparing and supervising the production of publicity brochures, handouts, direct mail leaflets, promotional videos, photographs, films and multimedia programs Devising and coordinating photo opportunities Organizing events including press conferences, exhibitions, town halls and press tours Developing written content on the organization’s website, and manage the design updates to the website. Creating, maintaining, and managing the delivery of the relevant aspects the master project plan (and other project Z Yh ^d &KZ yWZ ^^/KE^ K& /Ed Z ^d management products (e.g. action logs, risk registers, monthly progress reports) for the assigned work stream Managing the development of creative deliverables

●

Performing other duties as required

● ●

● ● ● ● ● ● ● ● ● ● ● ● ● ●

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The successful candidate should have the following ● ● ● ● ●

A minimum of a Bachelor of Science Degree in Public Relations, Communications, Journalism and English or Business would be considered an advantage Minimum of three (3) years of relevant professional experience in the public relations or media environment Minimum of three (3) years working knowledge of branding Specialized training in the field of media/TV/press, public relations, radio or print production/design would be considered an advantage Experience in the full management cycle of media/public relations projects, from strategic planning, concept to on-time and on-cost delivery would be considered an advantage

Self-starter, ability to take the initiative and operate independently; Ability to work in a team setting with high sense of confidentiality, solidarity and flexibility; Ability to operate within a fast-moving environment and react appropriately to change; Excellent drafting and reporting skills, and the ability to present information in a clear and concise manner; Excellent oral and written English; ICT skills commensurate with the scope of the post including Microsoft packages; Excellent interpersonal skills to operate in a multicultural environment and to deal with challenging circumstances;

The Office of the Prime Minister now invites eligible Consultants to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants will be selected in accordance with the National Competitive Bidding Selection procedures set out in the IDB’s: Policies for the Selection and Contracting of Consultants financed by the IDB and it is open to all eligible bidders as defined in these policies. Consultants will be selected in accordance with the International Competitive Bidding Selection method set out in Selection and Contracting of Firms Policies. Only Short-Listed Individuals will be contacted. Further information can be obtained by E-mail: DTUPROCUREMENT@bahamas.gov.bs. Submit all CVs and qualification documents must be submitted Re: Public Relations Officer to E-mail: DTUPROCUREMENT@bahamas.gov.bs on or before 5:00 pm on 6 January 2022.

IN THE ESTATE of GEORGE NATHANIEL COLLYMORE late of No.87 Yorkshire Street, Westward Villas, in the Western District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased. All claims against the above estate duly verified by statutory declaration, and with particulars and valuation of security held, if any, must be sent to the undersigned on or before the 20th day of January, 2022.

Competencies and Attributes ● ● ● ● ● ● ●

NOTICE TO CREDITORS

BUTLER’S LAW CHAMBERS Attorneys for the Executrix of the Estate 15 VET CF Place 8th Terrace Centerville Nassau, Bahamas

NOTICE IN THE ESTATE of ALLAN JAMES C. NAIRN late of #9 Baillou Hill Estate Subdivision in the Western District of the Island of New Providence, one the Islands of The Commonwealth of The Bahamas, deceased. Notice is hereby given that all persons having any claim or demands against the above named Estate are required to send their names, addresses and particulars of the same duly certified in writing to the undersigned on or before the 23rd day of December A.D., 2021, and if required, prove such debts or claims, or in default be excluded from any distribution; after the above date the assets will be distributed having regard only to the proved debts or claims of which the Administrator shall then have had Notice. And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the aforementioned date. MICHAEL A. DEAN & CO., Attorneys for the Administrator Alvernia Court, 49A Dowdeswell Street P.O. Box N-3114 Nassau, The Bahamas

PAGE 14, Thursday, December 23, 2021

THE TRIBUNE

Public Notice

Please be advised that all persons or entities holding valid contracts with

Bahamas Public Parks and Public Beaches Authority

are asked to present themselves at the National Sports Authority on Wednesday and Thursday, December 22nd & 23rd respectively between the hours of 9am and 5pm, to provide documents necessary to ensure payment of any arrears owed on the contracts. The following documents are required: • Copy of contract • Government issued id or if a corporate entity evidence that you can act on behalf of the corporate entity (Power of Attorney) along with the government issued ID. • Tax Compliance Certificate • NIB Company Registration Certificate • A copy of a Valid Business License • VAT Certificate, if the annual valule of the contracts with the authority was in excess of $80,000.00 • Bank accout information as no termination payment would be made to third party accounts on behalf of terminated contractors.

THE TRIBUNE

Thursday, December 23, 2021, PAGE 15

PFIZER PILL BECOMES 1ST US-AUTHORIZED HOME COVID TREATMENT By MATTHEW PERRONE AP Health Writer WASHINGTON (AP) — U.S. health regulators on Wednesday authorized the first pill against COVID-19, a Pfizer drug that Americans will be able to take at home to head off the worst effects of the virus. The long-awaited milestone comes as U.S. cases, hospitalizations and deaths are all rising and health officials warn of a tsunami of new infections from the omicron variant that could overwhelm hospitals. The drug, Paxlovid, is a faster way to treat early

COVID-19 infections, though initial supplies will be extremely limited. All of the previously authorized drugs against the disease require an IV or an injection. An antiviral pill from Merck also is expected to soon win authorization. But Pfizer's drug is all but certain to be the preferred option because of its mild side effects and superior effectiveness, including a nearly 90% reduction in hospitalizations and deaths among patients most likely to get severe disease. "The efficacy is high, the side effects are low and it's oral. It checks all the

boxes," said Dr. Gregory Poland of the Mayo Clinic. "You're looking at a 90% decreased risk of hospitalization and death in a high-risk group — that's stunning." The Food and Drug Administration authorized Pfizer's drug for adults and children ages 12 and older with a positive COVID-19 test and early symptoms who face the highest risks of hospitalization. That includes older people and those with conditions like obesity and heart disease, though the drug is not recommended for patients with severe kidney or liver problems. Children eligible for

the drug must weigh at least 88 pounds (40 kilograms). The pills from both Pfizer and Merck are expected to be effective against omicron because they don't target the spike protein where most of the variant's worrisome mutations reside. Pfizer currently has 180,000 treatment courses available worldwide, with roughly 60,000 to 70,000 allocated to the U.S. The company said it expects to have 250,000 available in the U.S. by the end of January. Federal health officials are expected to ration early shipments to the hardest hit parts of the country. Pfizer said the small supply is due

to the manufacturing time — currently about nine months. The company says it can halve production time next year. The U.S. government has agreed to purchase enough Paxlovid to treat 10 million people, and it will be provided free to patients. Pfizer says it's on track to produce 80 million courses globally next year, under contracts with the U.K., Australia and other nations. President Joe Biden said the pill marks a "significant step forward in our path out of the pandemic" and said his administration will work with states to ensure equitable distribution.

Health experts agree that vaccination remains the best way to protect against COVID-19. But with roughly 40 million American adults still unvaccinated, effective drugs will be critical to blunting the current and future waves of infection. The U.S. is now reporting more than 140,000 new infections daily and federal officials warn that the omicron variant could send case counts soaring. Omicron has already whipped across the country to become the dominant strain, federal officials confirmed earlier this week.

THE TRIBUNE

Thursday, December 23, 2021, PAGE 17

$475M SETTLEMENT PROPOSED IN LONGESTRUNNING US OIL SPILL By JANET MCCONNAUGHEY Associated Press NEW ORLEANS (AP) — A New Orleans-based oil company has agreed to turn over a $432 million cleanup trust fund and pay an additional $43 million to settle a federal lawsuit over cleaning up abandoned wells leaking since 2004, federal prosecutors said Wednesday. “This settlement represents an important down payment to address impacts from the longest-running oil spill in U.S. history,” Nicole LeBoeuf, director of the National Oceanic and Atmospheric Agency’s National Ocean Service, said in a news release from the U.S. Department of Justice. Attorneys for Taylor Oil Co., which agreed to drop three lawsuits challenging government cleanup orders and measures, did not immediately respond to an email requesting comment. As is common in such agreements, the proposed settlement said Taylor does not admit any liability. U.S. District Judge Greg Gerard Guidry will decide whether to approve the proposed consent decree after a 40-day public comment period. Sixteen wells off Louisiana have been leaking since September 2004, when a subsea mudslide caused by Hurricane Ivan knocked over a Taylor production platform, dragging and breaking a cluster of pipes. Taylor plugged nine wells but has said it cannot plug the rest. The settlement requires Taylor to drop its other lawsuits. In June, a federal appeals court agreed that a district judge was right to throw out a trespass suit

against a federal contractor that created a system to capture most of the oil. That system has captured and removed more than 800,000 gallons (3 million liters) of oil since April 2019, Coast Guard Capt. Will Watson, sector commander in New Orleans, said in the news release. “Despite being a catalyst for beneficial environmental technological innovation, the damage to our ecosystem caused by this 17-year-old oil spill is unacceptable,” said Duane A. Evans, U.S. attorney for the Eastern District of Louisiana. Taylor’s website states that it sold all its oil and gas assets in 2008 and exists now only to respond to the toppled platform. The company has agreed to turn over all remaining assets after liquidation, the government said. The trust fund was created to plug the wells, permanently decommission the facility and clean contaminated soil. One of Taylor’s suits, filed in 2016, sought to get back the remaining money, claiming regulators had broken the agreement requiring it to put $666 million into the fund. The company also had appealed the Coast Guard’s rejection of its claim for $353 million in cleanup costs. The trust fund will be transferred to the Department of the Interior under the settlement. The additional $43 million — all of the company’s remaining assets — is for civil penalties, removal costs and natural resource damages, the news release said. It includes a civil penalty of $15 million, $16.5 million for natural resources damage and more than $12 million for Coast Guard removal costs.

PAGE 18, Thursday, December 23, 2021

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RUSSIAN FM: SECURITY TALKS WITH US, NATO TO START NEXT MONTH

IN this photo released by the Russian Foreign Ministry Press Service, Russian Foreign Minister Sergey Lavrov pauses during his and Brazilian Foreign Minister Carlos Franca’s joint news conference following their talks in Moscow, Russia, Nov. 30, 2021. Russia’s top diplomat on Wednesday, Dec. 21 says that Russian and U.S. negotiators will sit down for talks early next year to discuss Moscow’s demand for Western guarantees precluding NATO’s expansion to Ukraine. Photo:Russian Foreign Ministry Press Service/AP By VLADIMIR ISACHENKOV Associated Press MOSCOW (AP) — Russian and U.S. negotiators will sit down for talks early next year to discuss Moscow’s demand for Western guarantees precluding NATO’s expansion to Ukraine, Russia’s top diplomat said Wednesday. Foreign Minister Sergey Lavrov said that Russia in January will also start separate talks with NATO to discuss the issue, adding that separate negotiations under the auspices of the Organization for Security and Cooperation in Europe will also be held. Last week, Moscow submitted draft security documents demanding that NATO deny membership to Ukraine and other former Soviet countries and

Congratulations The Partners & Staff of KPMG congratulate Michelle Minnis on the successful completion of the Uniform Certified Public Accountant (CPA) examination. Michelle Jones-Minnis attended The College of The Bahamas, now the University of The Bahamas (UB) where she graduated with a Bachelor of Business Administration in Accounting in 2003. In 2018 Michelle enrolled in Edinburgh Napier University of Scotland and completed her Master of Business Administration in Finance in 2019. In March 2020, Michelle was admitted as a member of the Institute of Financial Accountants of London and Institute of Public Accountants of Australia. She is grateful to have successfully completed the Uniform Certified Public Accountant Examination in November 2021. Michelle has always been reminded of this quote, “Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.” – Pele. Michelle joined KPMG Bahamas in March 2020 as the Financial Controller. Prior to this, Michelle’s career spanned from 2001 to present where she has worked in the capacity of a Client Accountant and Auditor for numerous companies within the Financial Industry sector, then as a Senior Client Accountant at an offshore bank and as an Assistant Financial Controller at an International Law firm.

Michelle extends thanks to God, as this accomplishment would not be possible without His blessings and favor over her life. She extends a heartfelt thank you to her parents Leon and Lise Jones (both deceased) for grounding her with principles and strengthening her character to persevere. She also extends thanks to her husband O’neil and children, Sanchez, Aaliyah, and Gabrielle for their tremendous and unwavering support throughout this journey. Further gratitude is extended to family, friends and work colleagues for their encouragement and advice throughout her journey. Finally, Michelle would like to thank the Partners for giving her this opportunity and the staff of KPMG for their support. She encourages those who may be pursuing their goals that there is nothing too hard for God. “May he give you the desire of your heart and make all your plans succeed” Psalms 20:4 NIV.

© 2021 KPMG, a Bahamian partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved

International Limited, a private English company limited by guarantee. All rights reserved.

roll back the alliance’s military deployments in Central and Eastern Europe. Washington and its allies have refused to provide such pledges, but said they are ready for the talks. Moscow presented the demands amid soaring tensions over a Russian troop buildup near Ukraine that has stoked fears of a possible invasion. U.S. President Joe Biden warned Russian President Vladimir Putin in a conference call earlier this month that Russia will face “severe consequences” if it attacks Ukraine. Putin has denied having plans to launch an attack but has described NATO’s expansion to Ukraine and weapons deployment of the alliance weapons there as a “red line.” “We don’t want a war,” Lavrov said Wednesday. “We don’t want to take the path of confrontation. But we will firmly ensure our security using the means we consider necessary.” Speaking in a live interview with Russian RT television, Lavrov hailed Washington’s “businesslike” approach that helped quickly agree on parameters of the future talks. He added that Moscow would be ready to consider Washington’s demands, but warned that the talks mustn’t drag out indefinitely. “I hope that they will take us seriously given the moves we take to ensure our defense capability,” he said. Kremlin spokesman Dmitry Peskov also hailed reaching a quick agreement on the start of the talks, but noted that they should be “aimed at reaching concrete results and not become drawn out.” He added that Moscow expects Washington to present a detailed platform for the talks and be ready for a constructive discussion. “We want these talks,” he said in a conference call with reporters. “And, certainly, the talks are held to discuss each other’s positions.” A key principle of the NATO alliance is that membership is open to any qualifying country, and the U.S. has said it won’t give Russia the kind of guarantee on Ukraine it seeks. In the meantime, the American side is conferring with its European allies.