12292020 BUSINESS, WOMAN AND HEALTH

business@tribunemedia.net

TUESDAY, DECEMBER 29, 2020

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ROBERT MYERS

‘Diabolical’ exam results threaten growth revival

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A GOVERNANCE reformer is warning that the latest “diabolical” BGCSE exam results will further undermine efforts to grow the Bahamian economy at the faster pace needed to recover from COVID-19.

Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, told Tribune Business that failing to develop a productive workforce will impair the international competitiveness of both Bahamian businesses and the wider economy unless drastic improvement is seen.

Acknowledging that the remote learning forced by the pandemic had only worsened the challenges faced by the educational system, Mr Myers said: “The challenge with this diabolical result is that there are, yet again, more young adults now in the job market who are under-educated and woefully unemployable as they do not possess the basic skills, soft skills and/or specific skills to be of value to employers.

“Unfortunately, the numbers are worse than the Ministry of Education lets on as their statistics do not account for those students that did not sit the BGCSE, or those young adults that dropped out of high school altogether.

“What these new results

SEE PAGE 6

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‘Skyrocketing’ Bahamasair losses could strike $60m

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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CABINET minister yesterday said the government had no choice but to increase Bahamasair’s fares in a bid to contain “skyrocketing” losses that could hit $60m for the airline’s current financial year.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that COVID-19’s devastating impact on the national flag carrier’s already-precarious finances meant the government “couldn’t hold back any longer” on raising fares across all its domestic routes from January 4, 2021.

Conceding that the projected $50-$60m loss for the 12 months to end-June 2021

• ‘Couldn’t hold back any longer’ on fare rises • Airline may call on Treasury for extra $41m • Hikes mirror recommendations by PwC

DIONISIO D’AGUILAR was “conservative”, and could easily be exceeded depending on how quickly travel rebound in the first six months of the New Year, Mr D’Aguilar acknowledged that Bahamasair’s “red ink”

represented a further bailout call for already-stressed Bahamian taxpayers.

With just $19m in subsidies from the Public Treasury allocated to Bahamasair in the 2020-2021 Budget, Mr D’Aguilar’s figures suggest the airline could call on taxpayers to find an extra $41m to keep it in the air just when the government is straining to contain its fiscal deficit to the originally projected $1.327bn.

The minister added that the increases, which also for the first time introduce a $25 fee for the first checked bag on all Bahamasair’s

ENVIRONMENTAL activists have seized on the “emergency response” section of BPC’s Environmental Impact Assessment (EIA), which says drilling can be halted within one to three days should a hurricane threaten, to challenge the company’s assertion that a Supreme Court-ordered halt to exploratory drilling would be impossible to implement.

“While BPC intends to drill outside of hurricane season to avoid potential disruption from hurricanes, the ERP (emergency response plan) will contain hurricane preparedness and response,” the relevant section of the EIA stated.

“In the event that the company is forced to drill during hurricane season, the company will follow standard industry practices

international routes, would bring the national flag carrier “more into line with its competition”.

Noting that Bahamasair’s fares have not changed in eight years, thus failing to keep pace with inflation and rising operating expenses, Mr D’Aguilar said that whether the increases produce a combined $7.5m rise in the airline’s annual revenues depends on a recovery in passenger traffic which presently is “a sliver of its former self”.

“As you can imagine,

SEE PAGE 4

Collapsed firm’s owners offer liquidator $150,000

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

TAYLOR Industries owners have offered to pay $150,000 to help cover their former staff’s termination pay and other benefits from the $2.335m generated by selling the collapsed firm’s former head office.

The move by the Taylor and Mabon families was revealed by the firm’s liquidator, who told the Supreme Court in his December 22, 2020, report he would seek its permission to accept the offer as part of a strategy to bring the firm’s wind-up to a rapid close and avoid unnecessary expenses that could deplete recoveries for creditors.

Andrew Davies, the

• Potential boost for ex-Taylor Industries staff • Funds generated by $2.335m HQ disposal • Bahamas urged to set up ‘auction house’

THE TAYLOR Industries building on Shirley Street.

Crowe Bahamas accountant, said he planned to accept the offer in exchange for the last two Taylor Industries assets he has yet to dispose of.

These are the insolvent company’s electrical contracting tools, valued at between $5,000 to $10,000, and its 1.09 percent stake in an affiliated

Oil opponents: BPC EIA ‘contradicts’ drilling halt

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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• Document says one-three days needed for storm stop • Govt official says no new drill ship approval needed • Brands case ‘misconceived’ and backs consultation

STENA ICEMAX DRILL SHIP for managing this risk (International Association of Drilling Contractor recommendations).

“For example, closure of the well and mobilisation of the rig to a safe area. Time required to close the well

and mobilise the drilling rig is approximately one to three days depending on the operations underway at the time.”

Casuarina McKinney, the Bahamas Reef Environment Educational Foundation

(BREEF) executive director, told Tribune Business: “BPC said in their EIA that they can stop drilling and disconnect in one to three days due to an incoming storm.

“If that’s the case, they should explain the difference as to why it is unsafe to stop drilling due to a court order but not a storm. It seems very disingenuous.” Simon Potter, BPC’s chief executive, said in an affidavit filed with the Supreme Court that “significant and unnecessary health, safety and environmental risks” will be created if opponents now obtain a court-ordered halt to its oil drilling.

He added that the

SEE PAGE 7

company, Rolyat Ltd. The latter still owns the now-defunct 74 year-old electrical retailer and contractor’s Dunmore Street warehouse, which has been valued at $200,000 and is presently listed for sale. Fearing that the sale “could take significant time to complete” amid COVID-19’s economic depression, Mr Davies said exchanging Taylor Industries’ $2,180 stake with the families will be the quickest way to monetise the asset.

SEE PAGE 6

$3.98 House approves Trump’s $2K checks, sending to GOP-led Senate WASHINGTON Associated Press THE House voted overwhelmingly yesterday to increase COVID-19 relief checks to $2,000, meeting President Donald Trump’s demand for bigger payments and sending the bill to the GOP-controlled Senate, where the outcome is highly uncertain.

Democrats led passage, 275-134, their majority favoring additional assistance, but dozens of Republicans suddenly joined in approval. While Democrats favoured bigger checks, Congress had settled on smaller $600 payments in a compromise over the big year-end relief bill Trump reluctantly signed into law.

The president’s GOP allies opposed more spending and Trump’s push puts them in a difficult spot.

The vote was a stunning turn of events from just days ago, when House Republicans blocked Trump’s demands during a Christmas Eve session. After Trump spent days fuming from his private club in Florida, where he is spending the holidays, dozens of Republicans preferred to link with Democrats rather than buck the outgoing president.

Senators were set to return to session today, forced to consider the measure amid similar, stark GOP divisions.

House Speaker Nancy Pelosi declared, “Republicans have a choice: Vote for this legislation or vote to deny the American people the bigger paychecks they need.”

The showdown could end up as more symbol than substance. Senate Majority Leader Mitch McConnell, R-Ky, has declined to say publicly how the Senate will handle the bill when

SEE PAGE 7

THE TRIBUNE

Tuesday, December 29, 2020, PAGE 3

Restaurants: Xmas off up to Nearly 100 staff 70% amid COVID ease wait return to Hilton

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A NASSAU restaurant says its Christmas sales are down 70 percent compared to prior years due to a combination of COVID19 health restrictions and the pandemic’s economic fall-out.

Chris Robertson, owner/ operator of the Cricket Club Restaurant and Pub, told Tribune Business the massive drop in “gross take” is due to the loss of night-time trade due to the 10pm curfew. As a result, he is just “trying to hang in there” until COVID-19 eases.

“We’re still surviving; we’ve been okay. We still have our regular customers in and, after 23 years, we should have some to keep us going,” he added.

Jacques Carlino, owner/ operator of the Blue Sail

Bar & Grill, said little has changed. He added: “We are still closed on Sunday and only open for six days.

I think we have to wait until the Sunday service come back, and then wait until 2021 for any major changes.

Mr Carlino said he was “doubtful” that the Prime Minister’s Office, also known as the competent authority, will make any changes to present COVID-19 measures in the near-term. He added that his operation was in a “wait and see” pattern.

The Prime Minister’s Office yesterday further adjusted restrictions on Bahamians and residents patronising local hotels if they are not a guest at that particular property.

Anxious to preserve the socalled “vacation bubbles” at these resorts, Dr Hubert Minnis and his team clarified that locals can visit a hotel’s “outdoor” facilities

without first producing a negative COVID-19 test result.

However, those wanting to use a hotel’s “indoor” facilities - such as casinos and restaurants - will have to produce either a negative PCR or antigen test result if they are not an existing guest.

Meanwhile George Mousis, the Athena Café’s general manager, said he was just “thankful” to be open with locals always accounting for a substantial portion of his business.

He added that he was not yet concerned about the continued uncertainty over the cruise ships’ return to downtown Nassau because domestic clients have helped to fill the breach despite the COVID-19 restrictions.

Mr Mousis said: “I don’t like to look back at 2019;, I just want to look forward to 2021”, refusing to compare

numbers between this year and last year.

Stacey-Ann Taylor, general manager of Exagon, said: “Things are pretty slow. There’s really not a lot of customers at all downtown. The only thing that generates anything is the workers, and they’re more interested in McDonald’s and Burger King at the moment.”

The hotel industry’s reopening did little to boost sales, as their busiest hours were traditionally around 8pm - a time that now sees persons start heading home to beat the 10pm curfew.

“We normally stayed open until about 2am, and during the week about until 11pm,” Ms Taylor said.

With the traditional Junkanoo Parades cancelled, she added that Exagon will “definitely” be closed on Christmas night and New Year’s Eve.

EARLY 2021 STUDY FOR THIRD MOBILE OPERATOR ‘FEASIBILITY’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net REGULATORS will in early 2021 initiate studies to help the government assess the “feasibility” of allowing a third operator to enter the Bahamian mobile communications market.

The Utilities Regulation and Competition Authority (URCA), in its just-released draft annual plan, said such research was required by the Electronic Communications Sector Policy to support the government’s decision on whether to permit further competition for the Bahamas Telecommunications Company (BTC) and Aliv.

“As set out in the draft electronic communications sector policy, the Government of The Bahamas will consider whether further liberalisation of the mobile telephone market should be undertaken in the form of a third mobile operator,” URCA said.

“The policy requires that URCA provide advice and recommendations to the government on this matter, including a feasibility and market analysis to support any recommendations made.” The “feasibility assessment” is scheduled to begin in the 2021 first quarter and conclude by mid-year.

The electronic communications sector policy previously gave URCA a 2021 year-end deadline to supply its advice and recommendations on the third mobile operator issue, while pledging that the government would take no decision on the matter before 2022 at earliest.

That timeline has likely been determined by the government’s plan to sell-off its 51.75 percent majority stake in Aliv via an initial public offering (IPO) currently scheduled to take place between the 2022-2023 and 2023-2024 fiscal years.

The government is aiming to raise a combined $150m from the Aliv sale and disposal of its interest in a solar energy financing vehicle, and will not want to dilute the value of its majority stake - and potential returns for the Treasury - by allowing a third mobile entrant too soon.

The policy acknowledged that the government will be some two to three years late in deciding whether to introduce more competition into the mobile market, as this decision should have been taken by October 2019 - some three years after Aliv ended BTC’s 16-year mobile monopoly by becoming its first competitor.

“The government will

further consider the feasibility of additional and expanded entry in cellular mobile services,” the policy document says. “In the previous electronic communications sector policy, the government promoted the introduction of competition in the mobile sector, a goal realised with the launch of services in 2016 by the second mobile operator.

“In the liberalisation process, the government delayed the consideration of the third mobile operator for a period of no less than three years after the commercial launch of the second mobile operator - October 2019. The government will review this issue, in conjunction with URCA, during the life of this electronic communications sector policy to determine an appropriate policy position moving forward.”

The policy document added that the government will both determine whether the entrance of a third mobile competitor is warranted, “and the manner and form any such liberalisation should take”.

A key concern has always been whether The Bahamas, with its 400,000-strong population and estimated 360,000-380,000 mobile subscribers, has the critical mass to support a third mobile operator.

Elsewhere, URCA said

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Bahamas Power & Light’s (BPL) plans to “unbundle” its monopoly through the proposed power purchase agreement (PPA) with Shell North America “and/or a possible merger” meant it needed to forge ahead with developing competition guidelines for the energy sector in 2021.

“While it is noted that the electricity sector is currently comprised of monopolistic holdings, the Electricity Act 2015 as constructed does allow for the unbundling of the industry and inherent competition,” URCA said.

“As at least one of the major public energy suppliers (BPL) in the country is actively considering a power purchase agreement and/or a possible

SEE PAGE 4

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

JUST under 100 workers returned to the British Colonial Hilton when it reopened a fortnight ago, the hotel union’s president has told Tribune Business.

Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) president, said it was “had to tell” how 2021 will shape up for the tourism industry due to ongoing uncertainty associated with COVID19 and related vaccines, and the resulting impact this will have on traveller confidence.

He added: “Everything is really hinges on what happens with COVID-19 and how this affects the travelling public, as we’ve been seeing. So we really need to see what the final weeks in 2020 bring, and the first couple of weeks in 2021.”

The nearly-100 staff who have returned to the Hilton join the combined 4,300 brought back by Atlantis and Baha Mar, and the 100-150 hired at The Pointe, to at least bring some relief and encouragement that the industry which is the largest private sector employer has begun the long road to COVID-19 recovery.

The British Colonial Hilton, which effectively acts as the “anchor property” for Bay Street, first “suspended operations” on August 1 due to the devastating impact the COVID-19 pandemic and associated containment measures were having on its business and the wider tourism industry as visitor numbers dried up.

It had aimed to initially re-open in early October, but this was delayed indefinitely due to continuing market uncertainty caused by soaring COVID-19 infection rates in both The

DARRIN WOODS Bahamas and in major source markets such as the US. In its letter to staff at that time, the British Colonial Hilton wrote: “We were hoping to resume our operations in October but, unfortunately, this is not the case. We continue to see an increase and spread of the virus with no flattening of the curve right now.

As a result, we are now faced to further extend the temporary suspension of our operations effective October 1, 2020, until further notice.”

However, the replacement of the mandatory 14-day quarantine for all visitors with a more frequent COVID-19 testing regime, coupled with the re-opening of other major Nassau/Paradise Island resorts, likely convinced the British Colonial Hilton to follow suit.

The resort, which attracts more corporate customers than rival properties, is owned by China State Construction, the contractor that built the $4.2bn Baha Mar resort and is now completing the $200m Pointe expansion adjacent to the downtown hotel.

Robert Sands, the Bahamas Hotel & Tourism Association (BHTA) president, said he was looking forward to hitting the reset button in 2021 and setting the resort industry back on a path to progress.

PAGE 4, Tuesday, December 29, 2020

‘BUZZ IS OUT’ ON ELECTRIC VEHICLES

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net AN auto dealer said electric car sales had enabled the business to shrug off COVID-19’s impact, as he asserted: “The buzz is out.”

Ian Johnson, Easy Car Sales’ general manager, said the pandemic restrictions had not really affected his business apart from the initial lockdown in March and April. He added that consumers had still been purchasing cars, while the social distancing restrictions and other sanitary measures had not presented a problem.

Predicting that 2021 will be “OK” if present business volumes continue, Mr Johnson added: “Early in the pandemic, it was a little rough like in March and April. But other than that, things picked up from then. Customers still come in and, you know, we do our social distancing and safety protocols. People still come, they look at the vehicles and they decide what they want to do.”

Crediting the company’s transition to electric cars over gasoline-powered models for this year’s sales returns, Mr Johnson added: “Last year, we were more in the gas car market. So this year, being more electric, I think with us being one of the only ones selling electric cars things have been maybe on the same even keel as last year.

“The buzz is out there about the electric cars now, so I wouldn’t say we had a bad year compared to 2019.”

THE TRIBUNE

EARLY 2021 STUDY FOR THIRD MOBILE OPERATOR ‘FEASIBILITY’ FROM PAGE THREE

merger, the electricity sector department deems it necessary to establish the guidelines on the application of the competition and merger control provisions set out in... the Electricity Act at the earliest possible opportunity.

“It is for this reason that the development of the competition guidelines has been include in the

2021 proposed schedule of works.”

A lower priority, though, has been assigned to an efficiency audit of BPL to determine the quality of the state-owned utility’s management and operations.

“In recent years, BPL has been faced with problems across the full range of its generation, transmission, distribution and supply (GTDS) services, which have resulted in diminished

quality of services, increased costs and overall value for money concerns,” URCA said.

“In this regard, URCA proposes to conduct an efficiency study for BPL, and in doing so, to develop a tool or procedure that would facilitate similar audits of BPL and other licensees going forward.”

The regulator added: “The primary objective of the efficiency study/audit

would be to provide comprehensive and objective insights into how the utility operates, highlight any adverse performance consequences of its current approaches and practices, and to inform the ‘efficiently incurred costs’ analysis envisioned by the Electricity Act with regard to tariff reviews......

“It is proposed that the audit will examine practices and processes in the

‘Skyrocketing’ Bahamasair losses could strike $60m FROM PAGE ONE

during this pandemic Bahamasair has racked up substantial losses,” he confirmed to Tribune Business.

“We won’t know until the end of the year, when we see what the numbers are - we don’t know what will happen over the rest of the year - but I would conservatively estimate the losses will probably be between $50m-$60m.

“It’s going to be substantial. The budget called for $19m [in subsidies]. We’re looking at every possible avenue to mitigate some of that loss. Even in the best

Mr John Mackinnon is NO LONGER authorized to conduct business on Behalf of Lignum management Ltd. Mr Mackinnon is no longer employed with the company.

of times, when Bahamasair had revenues circling $100m, they would lose or have a demand on the Treasury to the tune of $20m-$30m.

“Obviously it’s revenue is a fraction of what it was, but fixed costs - payroll, debt, leases and rents all remain constant. The losses have skyrocketed, and we’re looking at any possible way to mitigate those losses through better revenue management,” Mr D’Aguilar continued.

“Owning airlines is a very expensive proposition especially when you don’t have the volumes to cover fixed costs.; “I believe the ticket prices at Bahamasair have been fixed for many, many years. We just couldn’t hold back on that any longer.

We’re forced to do what we can to mitigate those losses.

We had to introduce fare increases and a new bag charge.”

Bahamasair did not detail the magnitude of the fare increases in its announcement, merely giving the new one-way and roundtrip fares between Nassau and all the other islands starting from this coming Monday.

They range from the lowest, which is $98 for oneway travel from Eleuthera to Nassau, and a $207.20 round-trip from the capital to the same island, to $240.80 round trips to Exuma and Abaco, $250.88 for Freeport, and the highest at $346.08 for round trips to Mayaguana and Inagua.

Research by this newspaper, based on a flyer found on Bahamasair’s Facebook page, indicated the increases appear to be

A BAHAMASAIR aircraft mid-air. in the high single-digit percentages across-the-board.

The ones calculated for Exuma and Eleuthera came in at rises of 8.3 percent and 9.4 percent, respectively, or increases of just below $20 for a round trip.

While such increases may not seem that significant, they represent a further rise in expenses for hard-pressed Bahamians - especially those in the Family Islands, who have traditionally relied on Bahamasair as a critical commercial link with Nassau.

“The airline has not had a domestic fare increase in the past eight years, and these adjustments have become necessary due to increased operational costs,” Bahamasair said in a statement, while confirming there was no change to its domestic baggage pricing policy.

As to the $25 fee for the first checked bag, which will be implemented on all routes to the US, Cuba, Haiti and Turks & Caicos with effect from January 4, 2021, the airline added: “The adjustments to baggage fees allow the airline to better conform with industry standards.”

They also follow the

recommendations submitted to the government by the PricewaterhouseCoopers (PwC) accounting firm, which was hired by the Ministry of Finance to conduct a study on how loss-making state owned enterprises (SOEs) such as Bahamasair can reduce the collective annual $400m-plus burden they inflict on Bahamian taxpayers to subsidise them.

PwC, which found that Bahamasair had not increased its ticket prices for eight years, called for the airline to better align pricing with the cost of service on its domestic routes between Nassau and the Family Islands.

Revealing that a $20 per return ticket increase had been recommended, Mr D’Aguilar in May’s budget presentation said this would boost Bahamasair’s revenues by $3m per year. And PwC also urged the airline to target “ancillary revenue streams” by levying a charge for carrying passenger bags.”

The minister said at the time these initiatives will increase the national flag carrier’s annual revenues by $7.5m per year, but he yesterday conceded that achieving this projection in the short-term will depend

areas such as corporate governance, operations management, financial management, debt and asset management, human resources and, to the extent that they exist, related party transactions.

“The audit is expected to evaluate the extent to which there are opportunities for fundamental improvement in the business of the company to the benefit of all stakeholders.” on how quickly passenger numbers rebound.

“Traffic is a sliver of its former self,” he explained.

“It’s contingent on volumes. With COVID-19 spread throughout the world, volumes will be down for the first quarter of 2021 and probably the second quarter.

“Until the vaccine gets some traction, and people feel comfortable to travel, tourism will be in a depressed state - albeit improving every day but still in a depressed state.”

Mr D’Aguilar, while acknowledging that numbers were “nothing compared to 2019”, said the week leading up to and through Christmas had been “the best so far” for the volume of health travel visa applications.

He added, though, that the financial blow-out from COVID-19 was “multifaceted” when it came to the aviation sector, and had been “multiplied” by the impact on the Airport Authority, Nassau Flight Services (NFS) and the Nassau Airport Development Company (NAD).

All three were reliant on user fees, and passenger and/or flight volumes, which had almost completely dried up during the COVID-19 pandemic due to lockdowns, border curbs and other health-related measures.

Acknowledging that the government’s aversion to staff cuts, fearing this would worsen the economic and social fall-out, meant the losses incurred at Bahamasair were even more significant, Mr D’Aguilar said: “It’s a high-fixed cost business, and the way you overcome that is through the volume of customers coming through your facilities, paying fees for that privilege.”

The increased fares and baggage fees also represent a first step in the government’s efforts to ensure that state-owned enterprises (SOEs) also fully recover their costs, either through tariff rises or subsidy cuts.

THE TRIBUNE

Tuesday, December 29, 2020, PAGE 5

GRAMS OF GOLD

In a year of global doom and gloom, 2020 has proven gold’s enduring allure ACTIVTRADES WEEKLY ByCARLOALBERTODECASA www.activtrades.bs

I

N his masterpiece “Thus Spoke Zarathustra”, German existentialist philosopher Friedrich Nietzsche seeks an answer to a very interesting and still current question: where does the value of gold come from?

Zarathustra’s answer is fascinating. Nietzsche’s fictional character says: “Because it is uncommon, and unprofiting, and beaming, and soft in lustre; it always bestoweth itself.

Only as image of the highest virtue came gold to the highest value.”

To the attentive reader, these few lines can tell a lot about gold, an element practically indestructible and corrodible only by the aqua regia, (a mixture of nitric acid and hydrochloric acid), cyanide ion and mercury.

Man has been able to manufacture gold products for millennia, thanks to its relatively low melting point, at just over 1,000 degrees Celsius, or about 1,950 degrees Fahrenheit.

However, it is not only its use in jewellery or in the industrial sector that has gained the precious metal its current status.

As Nietzsche reminds us, it is certainly not the most useful element in nature, but “it always bestoweth itself”.

Its value is intrinsic and unlike paper money, bullion cannot be printed by central banks.

Which brings us to a very current topic. The economic crisis triggered by the coronavirus pandemic has stretched the balance sheets of central banks to extreme levels.

Central bankers have tried by any means possible to soften the blow to the global economy caused by the pandemic and the prolonged lockdowns.

Once again gold has emerged as the safe haven par excellence.

2020 has seen the price of bullion surge, thanks to burgeoning demand for gold Exchange Traded Funds (ETFs) and a big boost from the wider investment sector.

Demand for gold ETFs rose to an all-time high in 2020, according to the World Gold Council. The overall holding of gold ETFs in December stood at around 3,750 tons, almost a thousand of which were added in the first eight months of the year. The rally resulting from the increasing appetite for gold ETFs - and more generally from the higher demand for gold in the financial worldhas more than offset the slowdown in jewellery and industrial demand, driving the price to record levels.

With just a few days to go to the new year, gold is

on track to achieve a 20% price growth in 2020.

Many must indeed agree with Nietzsche’s description of the precious metal, as expressed in Zarathustra’s words: “as image of the highest virtue came gold to the highest value.”

From a technical point of view, gold’s previous alltime high, of around $1,920 an ounce, dated back to 2011. But this was smashed by a new high reached in August this year, when bullion jumped above the psychological threshold of $2,000 for the first time, to hit a new record at $ 2,075.

In November, news of an effective vaccine against Covid-19 eased some of the concerns about the economic crisis and led to a ten to 15% decline for the gold price.

In the final weeks of the year though, additional stimulus by central banks and renewed worries on the back of reports of a new, more contagious strain of Covid-19 found in the UK lifted the price of bullion once again.

As the year turns to an end it’s clear that 2020 offered a stark reminder that any financial shocks, any loss of confidence in currencies and in the central banks themselves will spark a new gold rush.

PAGE 6, Tuesday, December 29, 2020

THE TRIBUNE

Collapsed firm’s owners offer liquidator $150,000

FROM PAGE ONE “The liquidator has received notice that the Taylor/Mabon families would like to make a personal contribution of $150,000 to the Taylor Industries liquidation estate from their share of the proceeds of the sale of the Shirley Street property. The $150,000 is currently held in a client trust account of a Bahamian law firm,” Mr Davies told the Supreme Court.

“The liquidator’s plan is that in exchange for accepting this $150,000 contribution, the liquidator will transfer Taylor Industries’ shares in Rolyat Ltd (estimated value $2,180) and the electrical contracting tools (estimated value $5000 to $10,000) to the ownership of Rolyat Ltd. “The Taylor/Mabon family have not requested this exchange; it is the liquidator’s proposal. The rationale behind this proposal is it will divest the liquidation estate of ownership of these two assets so the liquidation can advance to the next stage of the

liquidation process, which is the payment of a dividend to creditors without further extended delays in attempting to find buyers for these assets.”

Mr Davies said he would seek the Supreme Court’s permission to effect such a deal, which would net a minimum $137,820 for creditors, as the Insolvency Act requires the judge’s sanction “to transfer assets of an insolvent company to a person who is or was related to the company”.

Rolyat Ltd, which is understood to be majoritycontrolled by the Taylor and Mabon families, also owned Taylor Industries’ former headquarters building on Shirley Street. The latter property’s sale has financed the promised $150,000 payment to the liquidator, which may help to at least partially compensate around 40 former Taylor Industries staff still waiting for their severance and other due sums.

Taylor Industries never owned the real estate from which it operated, and the two families appear to have received a potential multi-million dollar boost

by shutting down a lossmaking operating company and then selling-off the associated property thanks to holding it via a separate company they control.

While the full purchase price is not disclosed by Mr Davies’ report, it can be calculated from the fact that the liquidator received $25,455 “less closing expenses” - such as the six percent realtor’s commission, and 2.5 percent attorneys’ fees - as Taylor Industries’ 1.09 percent share.

Tribune Business previously reported that Rolyat’s shareholders stood to make a potentially significant financial gain from selling the Shirley Street site, given that it sits on a major road in a prime commercial district near downtown Nassau. It also sits opposite Princess Margaret Hospital (PMH), and is near Doctors Hospital, both of which are thought to need more space.

Still, the former Taylor Industries owners are under no legal obligation to make the $150,000 payment, which would take the total value of assets realised

by the liquidator to some $507,060 - a sum exceeding his original projection of $313,189 by 61.9 percent.

The former figure, though, is still some way short of the total $687,886 owed to former Taylor Industries employees in severance pay and other benefits. And the liquidator and his attorneys at Lennox Paton will likely apply to the Supreme Court to deduct their fees from this sum, reducing the creditor payout further.

Besides the employees, Mr Davies report names the other preferred creditor as the Department of Inland Revenue with $18,346 due in VAT from the final 2018 quarterly filing. He warned that Kelly’s Home Centre, with an $11,895 claim, and a US supplier, Peninsular Electric Distribution from Florida, which is owed $134,750, will be unlikely to see a cent as unsecured creditors.

“The financial status of the unsecured creditors in the liquidation remains the same, which is there will be insufficient funds for them to receive a dividend,” Mr Davies wrote, implying

that all the recoveries will go to the government and former staff.

He also suggested that The Bahamas needed to establish a formal auction house to assist liquidators in disposing of assets more efficiently. “Because of its small size and relatively limited business environment, The Bahamas lacks various commercial options that may have assisted the liquidator in carrying out his duties,” Mr Davies wrote.

“The main one being a formal auction house where the assets the liquidator had available to sell could have been disposed of with possibly greater efficiencies, and reduced overall costs to the liquidation estate.

“The liquidator would like to highlight that while some of the assets owned by Taylor Industries had value when the company was operational, these assets ceased to have value in a liquidation scenario given the time and associated costs in attempting to sell them.”

Mr Davies said several efforts to sell Taylor Industries’ electrical contracting tools had fallen

through, which was why the exchange with the Taylor and Mabon families was proving so attractive.

“The liquidator met with several of these prospective buyers. Various offers were made for the tools and verbal agreements made by the liquidator to sell at agreed prices, but none of the potential buyers were able to produce the required funds. The liquidator found this a time consuming and ultimately unproductive process,” he said.

“The liquidator took the additional steps of contacting by telephone all of the major electrical contracting vendors in Nassau to ascertain if they were interested in the tools. All the electrical contractors the liquidator contacted either already had these tools or did not have the necessary funding available to buy them.

“The liquidator also contacted some of the major construction companies in Nassau to ascertain if they were interested in the tools.

None of the companies contacted expressed an interest in buying the tools.”

‘Diabolical’ exam results threaten growth revival FROM PAGE ONE mean in terms of future productivity and GDP is the larger macro problem, and one that successive administrations have failed to address adequately or honestly for decades,” the ORG chief continued.

“Without an educated and productive workforce, our economy will not grow at anywhere near the rates necessary to meet the fiscal demands required for social and fiscal stability. Where is the government’s macro understanding and vision

that will provide opportunities for future generations?

Fanning people’s hopes with promises and lies are no longer a believable manifesto and the people know it.”

Mr Myers spoke out after the Ministry of Education last week said national exam results worsened in 2020 compared to 2019, with fewer students achieving A, B and C grades and more students receiving D, E, F and G grades compared to the year before.

The total percentage of grades awarded at “D” or higher was lower this year

NOTICE NOTICE is hereby given that ALLANDA FORTUNE of Mackey Street, 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 22nd day of December 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

than in any of the previous four years, and the overall number of test takers plummeted amid the COVID-19 crisis, according to statistics from the Ministry of Education.

The number of BGCSE candidates that received at least a “C” grade in five or more subjects declined by 5.8 percent. The number of students that received a minimum grade of “D” in at least five subjects declined by nine percent, and the number of candidates that received at least a “C” in mathematics, English language and a science declined by 3.3 percent.

Overall, six percent of candidates received at least a “C” in five or more subjects, 9.85 percent of students received a minimum grade of “D” in at least five subjects. and 4.2 percent of candidates received at least a “C” in mathematics, English language and a science subject.

“Successive governments continue to implement exactly the

opposite policies they should be. Their nationalistic policies have further increased the cost of doing business, lowered productivity and continue to hamper GDP growth and employment,” Mr Myers argued.

“If The Bahamas expects to survive in today’s world then, at some point very soon, it must find a generation of honest leaders that are prepared to accept the failures of our past and have the courage and vision to plot a new course. The sobering reality is that the leadership and governance of yesterday are of no use in today’s Bahamas if they continue to protect the status quo and their own self-interest.

“If the next election does not present a leader and Cabinet with the courage and vision to right the wrongs then the country will fail, just as successive governments have allowed education to fail our youth and nation today.”

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NOTICE

NOTICE

THIS IS TO INFORM THE GENERAL PUBLIC THAT THE PRIVATE ROADWAYS AND PARKING AREAS SITUATED IN THE HARBOR BAY SHOPPING CENTRE BETWEEN EAST BAY STREET AND SHIRLEY STREET WILL BE CLOSED ON FRIDAY, 1ST OF JANUARY, 2021 IN ORDER TO PRESERVE THE RIGHT OF OWNERSHIP THEREOF.

NOTICE is hereby given that MONIQUE MARIE WILLIAMS of Jones Way, Jones town, Freeport, 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 18th day of December 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE OWNERS

LEGAL NOTICE International Business Companies Act (No. 45 of 2000)

LEGAL NOTICE International Business Companies Act (No. 45 of 2000)

Income Global Fund Ltd (the “Company”)

AS Investment Fund Ltd. (the “Company”)

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), that Income Global Fund Ltd. (IBC no. 196027 B) is in dissolution. The date of commencement of the dissolution is the 24th day of December, 2020. The Liquidator of the Fund is Crowe Bahamas and can be contacted at Harbour Bay Plaza, Shirley Street, Suite 587, P. O. Box AP-59223, Nassau, Bahamas. All persons having claims against the above-named company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before 24th day of January, 2021.

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of AS Investment Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register.

The date of completion of the Dissolution was 2nd December, 2020.

Crowe Bahamas Liquidator

Gustavo Dos Santos Vaz Liquidator

THE TRIBUNE

Tuesday, December 29, 2020, PAGE 7

Oil opponents: BPC EIA ‘contradicts’ drilling halt FROM PAGE ONE company and its Stena contractor had “limited options..... to suspend or abort the drilling” of its Perseverance One well in waters 90 miles west of Andros if environmental activists succeed with their Judicial Review challenge.

“Given that drilling has now commenced into the rocks below the seabed, implementing any of these options to suspend or abort drilling at this stage would all pose potentially severe

health, safety and environmental consequences, in addition to extreme logistical challenges and financial ramifications,” Mr Potter alleged.

Revealing that his assertions were based on a report from BPC’s drilling manager, David Bond, he added: “By virtue of the options and concerns raised by Mr Bond in his memorandum, it is my belief that the drilling operations cannot be suspended without creating significant incremental, and unnecessary, health, safety and

environmental risks.

“The drilling operations have been commenced and are being conducted in strict accordance with the environmental protocols established in the Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP).”

Meanwhile, Rochelle Newbold, director of the newly-formed Department of Environment, Protection and Planning (DEPP), rejected the argument by environmental activists that a new

Environmental Authorisation (EA) and public consultation was required because BPC had changed its drill ship to the Stena IceMAX. “The DEPP upon receiving notice of the change in the rig indicated a ‘no objection’ to the change after the review and consultation with its independent environmental consultants,” she said, referring to Black & Veatch. “The indicated changes by BPC had no relation to the impacts associated with the EIA, and therefore no ‘new approval’

House approves Trump’s $2K checks, sending to GOP-led Senate FROM PAGE ONE Democrats there try to push it forward for a vote today.

After the robust House vote, Senate Democratic leader Chuck Schumer warned, “There is no good reason for Senate Republicans to stand in the way.”

“There’s strong support for these $2,000 emergency checks from every corner of the country,” Schumer said in a statement. “Leader McConnell ought to make sure Senate Republicans do not stand in the way of helping to meet the needs of American workers and families who are crying out for help.”

The legislative action during the rare holiday week session may do little to change the $2tn-plus COVID-19 relief and federal spending package that Trump signed into law on Sunday, one of the biggest bills of its kind providing relief for millions of Americans.

That package — $900bn in COVID-19 aid and $1.4tn to fund government agencies — will deliver long-sought cash to businesses and individuals and avert a federal government shutdown that otherwise would have started today, in the midst of the public health crisis.

But the outcome will define Trump’s GOP, putting a spotlight on the Georgia runoff election Jan 5 where two Republican senators are in the fights of their political lives against Democrats in a pair of races that will determine which party controls the Senate next year.

Together with votes yesterday and today to override Trump’s veto of a sweeping defense bill, it’s potentially one last confrontation between the president and the Republican Party he leads as he imposes fresh demands and disputes the results of the presidential election. The new Congress is set to be sworn in on Sunday.

Rep Kevin Brady of Texas, the chairman of the Ways and Means Committee, acknowledged the division and said Congress had already approved ample funds during the COVID-19 crisis. “Nothing in this bill helps anybody get back to work,” he said.

Aside from the direct $600 checks to most Americans, the COVID-19 portion of the bill revives a weekly pandemic jobless benefit boost — this time $300, through March 14 — as well as a popular Paycheck Protection Program of grants to businesses to keep workers on payrolls. It extends eviction protections, adding a new rental assistance fund.

The COVID-19 package draws and expands on an earlier effort from Washington. It offers billions of dollars for vaccine purchases and distribution, for virus contact tracing, public health departments, schools, universities, farmers, food pantry programmes and other institutions and groups facing hardship in the pandemic.

Americans earning up to $75,000 will qualify for the direct $600 payments, which are phased out at higher income levels, and there’s an additional $600 payment per dependent child.

Meantime the government funding portion of the bill keeps federal agencies

PRESIDENT DONALD TRUMP

was warranted.

“Upon notice of the change in the drilling contractor, the Department was provided with the documentation regarding information and specification of the rig, its experience, background and capabilities.

“This information was reviewed by the DEPP and the independent international environmental consultant, Black & Veatch, and no issues were identified which would have compromised the

identified and required undertakings in the Environmental Management Plan.”

Arguing that the environmentalists’ arguments were “misconceived”, Mrs Newbold argued that public consultation on BPC’s project had taken place as required under the Petroleum Act 2016. This, though, was rejected by Fred Smith, the activists’ attorney, who said: “They’re scraping the bottom of the historical barrel for consultation.”

LEGAL NOTICE

NOTICE TAVOR INTERNATIONAL HOLDINGS LTD. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, TAVOR INTERNATIONAL HOLDINGS LTD. is in dissolution as of December 23, 2020 International Liquidator Services Inc. situated at 3 rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________ nationwide running without dramatic changes until Sept 30.

Democrats are promising more aid to come once President-elect Joe Biden takes office, but Republicans are signaling a wait-and-see approach.

Biden told reporters at an event in Wilmington, Delaware, that he supported the $2,000 checks.

Trump’s sudden decision to sign the bill came as he faced escalating criticism from lawmakers on all sides over his eleventh-hour demands. The bipartisan bill negotiated by Treasury Secretary Steven Mnuchin had already passed the House and Senate by wide margins.

Lawmakers had thought they had Trump’s blessing after months of negotiations with his administration.

The president’s defiant refusal to act, publicised with a heated video he tweeted just before the Christmas holiday, sparked chaos, a lapse in unemployment benefits for millions and the threat of a government shutdown in the pandemic.

It was another crisis of his own making, resolved when he ultimately signed the bill into law.

In his statement about the signing, Trump repeated his frustrations with the COVID-19 relief bill for providing only $600 checks to most Americans and complained about what he considered unnecessary spending, particularly on foreign aid — much of it proposed by his own budget.

While the president insisted he would send Congress “a redlined version” with spending items he wants removed, those are merely suggestions to Congress.

Democrats said they would resist such cuts.

For now, the administration can only begin work sending out the $600 payments.

A day after the signing, Trump was back at the golf course in Florida, the state where he is expected to move after Biden is sworn in on Jan 20.

Most House Republicans simply shrugged off Trump’s push, 130 of them voting

to reject the higher checks that would pile $467bn in additional costs. Another 20 House Republicans — including Minority Leader Kevin McCarthy of California, a Trump confidant — skipped the vote, despite pandemic procedures that allow lawmakers to vote by proxy to avoid travel to the Capitol. McCarthy was recovering at home from elbow surgery, his office said.

Republican Rep Mo Brooks of Alabama, a conservative who supported Trump’s extraordinary and futile challenge of the election results, counted himself yesterday among the opponents of a more generous relief package and Trump’s call for higher payments.

“It’s money we don’t have, we have to borrow to get and we can’t afford to pay back,” he said on “Fox and Friends”.

But Republican Rep Elise Stefanik of New York said she was open to the idea of $2,000 checks. “Many Americans are in dire need of relief,” she said on the show.

LEGAL NOTICE

NOTICE

A.D. SYRIANI INC.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, A.D. SYRIANI INC. is in dissolution as of December 23rd, 2020.

FRANK A. MAYES situated at 2 Lowlands Cottages, La Rue des Vignes, St. Peter, Jersey JE3 7BE, Channel Islands is the Liquidator.

LIQUIDATOR ______________________ LEGAL NOTICE

NOTICE

Little Chirp Inc.

In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Little Chirp Inc. is in dissolution as of December 23rd, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________ LEGAL NOTICE

NOTICE

Orchid Flower Inc.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Orchid Flower Inc. is in dissolution as of December 23, 2020 International Liquidator Services Inc. situated at 3 rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

PAGE 8, Tuesday, December 29, 2020

THE TRIBUNE

CROSSWORD PUZZLE

US stocks hit records after Trump signs $900bn aid package

Monday, December 28, 2020

Associated Press

MARKET REPORT www.bisxbahamas.com

THURSDAY, 24 DECEMBER 2020

BISX ALL SHARE INDEX:

CLOSE

CHANGE

2088.89

6.24

%CHANGE

YTD

YTD%

0.30 -142.71

-6.39

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 4.15 33.05 2.00 1.84 2.39 6.00 6.75 4.10 8.01 4.50 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.26 15.21

52WK LOW 3.13 22.65 0.67 1.62 1.67 5.00 6.00 2.70 4.75 3.50 5.90 11.06 2.10 4.60 9.60 7.50 13.00 3.25 8.15 14.00

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

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

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00

52WK HI 2.37 4.43 2.13 198.39 176.73 1.69 1.85 1.77 1.24 8.39 10.26 7.23 12.80 12.81 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.65 1.79 1.75 1.05 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

MUTUAL FUNDS

MARKET TERMS

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

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407

LAST CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.80 4.75 3.59 5.90 11.26 2.41 6.75 10.21 8.40 13.75 3.80 8.50 15.20

CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.80 4.75 3.59 5.90 11.26 2.37 6.75 10.27 8.40 13.75 3.94 8.50 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.04) 0.00 0.06 0.00 0.00 0.14 0.00 0.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

VOLUME 115

5,000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 VOLUME

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno 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

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631

NAV 2.37 4.43 2.13 198.36 173.98 1.69 1.79 1.77 1.05 8.39 9.88 7.23 12.33 12.80 10.20 N/A 9.28 11.86

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 17.4 34.5 N/M N/M N/M N/M 17.9 -6.4 33.9 19.5 13.1 15.6 23.2 14.5 15.9 11.5 16.9 19.4 9.1 24.1

YIELD 4.10% 3.92% 1.23% 1.63% 0.00% 0.00% 3.93% 0.00% 0.00% 3.34% 3.73% 6.39% 18.31% 0.89% 3.19% 2.86% 3.93% 3.05% 2.35% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

MATURITY 19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022

YTD% 12 MTH% 3.76% 4.43% 1.54% 2.56% 2.12% 2.59% 1.65% 2.39% 4.34% 9.82% 1.65% 1.95% -3.06% -2.22% 0.80% 1.17% -12.30% -11.81% 0.64% 0.98% 1.19% -3.63% 4.20% 5.04% 2.63% 7.68% 3.68% 3.93% -4.89% -4.62% N/A N/A -0.50% 3.70% -3.80% 4.10%

STOCKS began the final week of 2020 with more gains yesterday, nudging the major US indexes to record highs.

The S&P 500 climbed 0.9%, powered by gains in technology, communication services and consumer discretionary stocks. Companies that were hit the hardest by the pandemic, including restaurants, airlines and cruise operators, were among the biggest gainers. Treasury yields were mixed.

The broad rally came as investors welcomed the decision by President Donald Trump to sign a $900bn coronavirus economic aid package. The package also includes $1.4tn to fund government agencies, averting a federal government shutdown that otherwise would have started today.

The latest gains add to what has been a strong, record-shattering run for the stock market in recent weeks amid cautious optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the grip of the pandemic.

“By and large, it’s a kind of broad-based optimism, so-far-so-good on the vaccine rollout, and the stimulus bill to bridge the gap,” said Ross Mayfield, investment strategist at Baird, “It’s really just a continuation of the broader strength that we’ve seen over the last couple of months.”

The S&P 500 index rose 32.30 points to 3,735.36. The Dow Jones Industrial Average gained 204.10 points, or 0.7%, to 30,403.97, a record high. The Nasdaq composite climbed 94.69 points, or 0.7%, to 12,899.42, also a record high. The Russell 2000 index of smaller companies fell 7.70 points, or 0.4%, to 1,996.25.

Wall Street had been hoping since last week that Trump would back down from his veto threat and clear the way for more financial support for hurting individuals and businesses. Trump signed the measure into law late Sunday despite expressing frustration that $600 in coronavirus relief payments to the public weren’t bigger.

The president had asked for higher individual payments to Americans, something Democrats support but which is unlikely to get a vote in the Republican-held Senate.

The US economy continues to deteriorate under widespread coronavirus outbreaks, infections and hospitalisations, so the promise of more relief for millions of Americans helps reduce uncertainty amid the re-imposition of travel and business curbs in response to a new coronavirus variant.

Stocks also got a seasonal boost, Mayfield said. The market tends to climb in the final five days of trading in December and the first two trading days in January, a phenomenon known as the “Santa Claus rally”. Since 1950, the S&P 500 index has risen an average of 1.3% during those seven days.

Companies that were hit the hardest by the pandemic were among the biggest gainers yesterday.

American Airlines rose 2.6%, Norwegian Cruise Lines gained 2.9% and Carnival added 4.2%.

Technology and communication services stocks accounted for a big slice of the broad market rally.

Apple and Facebook climbed 3.6%.

Shares in Chinese e-commerce giant Alibaba Group rose 0.2%, recovering some of their losses after plunging last week when government regulators launched an antimonopoly investigation and the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33% stake, was suspended.

Treasury yields were mixed. The ten-year Treasury yield, which can affect interest rates on mortgages and other consumer loans, was at 0.92%.

Trading is expected to be light this week, as most fund managers and investors have closed their books for the year. It will be another holiday-shortened week, with New Year’s Day on Friday.

European indexes closed broadly higher, helped by more details about the European Union - United Kingdom trade deal as part of the UK’s exit from the trade bloc. Germany’s DAX rose 1.5%, while the CAC-40 in France gained 1.2%.

In Asia, the Shanghai Composite Index rose less than 0.1% to 3,397.29 while the Nikkei 225 in Tokyo added 0.7% to 26,854.03.

The Hang Seng in Hong Kong declined 0.3% to 26,314.63 after e-commerce giant Alibaba Group announced it was expanding a share buyback from $6bn to $10bn.

NAV Date 31-Oct-2020 31-Oct-2020 30-Oct-2020 30-Sep-2020 30-Sep-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings

YOUR

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

PAGE 10, Tuesday, December 29, 2020

THE TRIBUNE

VIRUS-KILLING ROBOTS MOVE FROM HOSPITALS TO PUBLIC SPACES MIAMI Associated Press IT MIGHT not be as cool as the endoskeleton from The Terminator or as amiable as Rosie from The Jetsons, but a Florida airport is getting its own robot designed to kill COVID-19 and other pathogens.

The machine began this month patrolling Key West International Airport after

hours, emitting high-intensity ultraviolet light that kills bacteria and viruses in the air and on surfaces. It’s not yet clear whether the nightly disinfections will have a substantial effect against the thousands of travelers bringing new germs through the airport every day.

Richard Strickland, director of airports for Monroe County, said the $100,000

robot’s acquisition was motivated by a desire to augment the airport’s other cleanliness and passenger protection practices in the coronavirus era.

“Passengers should know that, as they travel to Key West International Airport and utilise the facilities here, that we’ve made every effort possible against the COVID to protect passengers’ safety,” Strickland said.

The machine, built by UVD Robots, features a vertical UV lamp mounted on a moving robot base. It’s nearly 6ft tall and weighs over 300 pounds.

James Malley, a civil and environmental engineering professor at the University of New Hampshire, said ultraviolet light has been used for decades as a disinfectant, but it has limitations.

UV lights should be used

as an additional barrier to infection, not as a replacement for traditional cleaning, social distancing and wearing masks, Malley said.

According to the Centers for Disease Control and Prevention, person-to-person contact is the primary means of spreading coronavirus.

It’s possible for a person to catch the disease by touching infected respiratory droplets on a surface or object and

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 72° F/22° C Low: 60° F/16° C

TAMPA

TONIGHT

WEDNESDAY

THURSDAY

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Windy with a passing shower or two

Windy with a passing shower or two

Partly sunny, a shower; windy

Partly sunny, a shower; windy

Turning sunny; breezy, warm, humid

Partly sunny; breezy, warm, humid

High: 76°

Low: 70°

High: 77° Low: 70°

High: 80° Low: 70°

High: 80° Low: 70°

High: 81° Low: 69°

AccuWeather RealFeel

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75° F

63° F

75°-66° F

81°-69° F

83°-70° F

85°-69° F

High: 74° F/23° C Low: 60° F/16° C

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

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WEST PALM BEACH High: 76° F/24° C Low: 70° F/21° C

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High: 76° F/24° C Low: 70° F/21° C

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High: 75° F/24° C Low: 69° F/21° C

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 72° F/22° C Low .................................................... 62° F/17° C Normal high ....................................... 78° F/26° C Normal low ........................................ 66° F/19° C Last year’s high ................................. 78° F/26° C Last year’s low ................................... 72° F/22° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ............................................... 67.35” Normal year to date ................................... 39.52”

ELEUTHERA

NASSAU

High: 76° F/24° C Low: 70° F/21° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 77° F/25° C Low: 68° F/20° C

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

tiDes For nassau High Today

Ht.(ft.)

Low

Ht.(ft.)

7:06 a.m.

7:20 p.m.

2.9 2.1

12:41 a.m. -0.2 1:36 p.m. 0.0

Wednesday 7:46 a.m.

8:01 p.m.

2.9 2.2

1:21 a.m. -0.2 2:16 p.m. -0.1

Thursday

8:26 a.m.

8:43 p.m.

3.0 2.2

2:02 a.m. -0.2 2:57 p.m. -0.1

Friday

9:07 a.m.

9:27 p.m.

3.0 2.2

2:43 a.m. -0.2 3:38 p.m. -0.1

Saturday

9:49 a.m.

10:13 p.m.

3.0 2.3

3:27 a.m. -0.2 4:20 p.m. -0.1

Sunday

10:34 a.m.

11:04 p.m.

2.9 2.4

4:15 a.m. -0.1 5:05 p.m. -0.1

Monday

11:22 a.m.

11:59 p.m.

2.8 2.5

5:08 a.m. 0.0 5:52 p.m. -0.2

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High: 77° F/25° C Low: 68° F/20° C

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

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then touching their mouth, nose or eyes, but experts says it’s less common and can be prevented by regular handwashing.

Malley said multiple studies have shown that UV light is effective in reducing overall infections in hospitals, but the usefulness of the lights specifically against COVID-19 in airports and other public spaces remains to be seen.

SAN SALVADOR

GREAT EXUMA

High: 78° F/26° C Low: 69° F/21° C

High: 78° F/26° C Low: 73° F/23° C

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MAYAGUANA High: 79° F/26° C Low: 71° F/22° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 79° F/26° C Low: 70° F/21° C

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High: 79° F/26° C Low: 71° F/22° C

GREAT INAGUA High: 80° F/27° C Low: 71° F/22° C

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CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday:

WINDS NE at 10-20 Knots E at 12-25 Knots NE at 8-16 Knots E at 10-20 Knots NE at 10-20 Knots ENE at 12-25 Knots NE at 12-25 Knots ENE at 12-25 Knots NE at 10-20 Knots E at 10-20 Knots NE at 15-25 Knots E at 12-25 Knots NE at 10-20 Knots ENE at 12-25 Knots NE at 12-25 Knots ENE at 12-25 Knots NE at 12-25 Knots ENE at 12-25 Knots NE at 12-25 Knots ENE at 12-25 Knots NE at 12-25 Knots E at 15-25 Knots NE at 10-20 Knots ENE at 12-25 Knots NE at 10-20 Knots ENE at 12-25 Knots

WAVES 5-9 Feet 6-10 Feet 2-4 Feet 2-4 Feet 4-8 Feet 6-10 Feet 4-8 Feet 6-10 Feet 5-9 Feet 6-10 Feet 3-5 Feet 4-7 Feet 2-4 Feet 3-5 Feet 5-9 Feet 6-10 Feet 3-5 Feet 4-7 Feet 6-10 Feet 8-12 Feet 2-4 Feet 3-6 Feet 3-6 Feet 4-7 Feet 3-6 Feet 4-8 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 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 73° F 72° F 78° F 78° F 78° F 78° F 77° F 77° F 75° F 73° F 78° F 78° F 81° F 81° F 80° F 80° F 82° F 82° F 77° F 76° F 79° F 79° F 78° F 78° F

THE THETRIBUNE TRIBUNE

Tuesday, 29,2013, 2020,PAGE PAGEB9 11 Tuesday,December February 26,

BODY AND MIND

REP YA CAUSE PROMOTES The surprising HEALTHYhealth LIFESTYLE CHOICES benefits of

massage therapy

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

I

N AN effort to promote healthy lifestyles, the Junior Achievement company Legacy hosted the 3rd Annual Rep Ya Cause fun run/walk event.

The event was spearheaded by the company to help Bahamians make better choices that will improve their health.

Attendees participated in a 3 mile/5K walk. There were also on-site health screenings conducted by local physicians.

Fun and educational literature on making healthy lifestyle choices was also available during the event.

Health education was provided in the form of pamphlets. Representatives from disease awareness organisations were also present to give information on diseases that are plaguing the health of many Bahamians.

“You can possibly prevent those diseases which are prevalent in our country such as high blood pressure, high cholesterol, diabeBytes, ALESHA CADET and cancer. boost A our immune systems heart conditions healthy Tribune Features Reporter and flush toxins, increaslifestyle supports a better physical and menacadet@tribunemedia.net ing blood flow tal state of being,” said D’Andra Greenslade, throughout the body.Junior Massages also executive advisor of the Deloitte TANISHA SWEETING increase the activity of Achievers. feels as though that in some white blood cells that help dynamicbeen achievers of the Legacy way “The it has always her our fight diseases and company believe that age shouldbody not restrict destiny to become a masmay help with reduction of anyone from establishing a healthy lifestyle. sage therapist. cortisol,” Tanisha We wantedare to spark interest in healthy liv- told Trib“Massages extremely une ing and disease andHealth. encourage beneficial when awareness trying Through her Kismet to valuefrom their fitness and wellto participants protect yourself Mobile Spa brand, Tanitold Tribune an being,” illness.sheResearch hasHealth. sha offers services that Msthat Greenslade part proceeds from shown receivingsaid reguinclude deep tissue, sports event will be donated major causes larthe massage therapy helps to and Swedish and disease awareness organisations affect- massages,

as well as reflexology and hot stone therapies. She also offers sinus massages, stomach massages, full body scrubs, wraps and facial steams with black head removals.

“Regular massages have a wide range of health benefits. They help you speed up your metabolism, improve digestion, and again - boost your immune system – and mostly importantly, they help

you to manage chronic body aches and pains.

(Massages) even help psychologically by helping to fight depression and anxiety,” she said.

Working with her clients, Tanisha said, brings her a sense of fulfillment, as she genuinely enjoys helping others to genuinely feel better.

Tanisha loves her work, but unfortunately the demand for massages isn’t

what it used to be right now, and understandably so.

“Whether it’s a fear of the virus or economic hardships, a lot of people are struggling with the idea of getting massages,” she said.

“As of right now, I’m currently involved in three separate personal startups.

Kismet Spa, Lil Dumplins and Kismet trinkets.

I’ve always seen myself as a business person or the entrepreneurial type for

as long as I could remember. I have always loved the idea of building something for myself from the ground up, so I used the money I made from doing live performances, as I’m also a musician, to fund those separate businesses.

I’m so excited to see what I learn and where I end up.

It’s important to note that kismet means destiny, or what’s meant to be,” she said.

SALVATION ARMY ‘RESCUES CHRISTMAS’ ing the country.

“We wanted to promote healthy living for our people, communities and ultimately the Bahamas. We also want to do our part in building a healthier nation by giving financial assistance to those established charitable organisations that help to positively imthe community.”

Bypact JEFFARAH GIBSON and families who may be Ms Greenslade said one ofdown the main Tribune Features Writer on goals their luck and of the Rep Ya Cause initiative is to teach jgibson@tribunemedia.net in need of some extra students the importance of corporate assistance.social responsibility by raising for charitaUNDERSTANDING the fundsAnd localising these ble organisations and demonstrate that age direct relationship between global efforts, the Salvation does not restrict establishing a food security, diet anyone relatedfrom Army Bahamas recently healthy conditions, lifestyle. chronic and hosted its annual luncheon the overall health issues as feeding those in need in the well as the threat of hunger community. that many Bahamians face, The Salvation Army the Salvation Army has made it its mandate to embarked on hunger relief “rescue Christmas”, enlistefforts during this time. ing a team of volunteers to Globally, the Salvation feed the less fortunate at its Army serves 60 million 89th Annual Community & meals to anyone in need Senior’s Luncheon. through its many soup More than 300 persons kitchens, sit-down meal were treated to a special programmes, food pantries, lunch and gift voucher to mobile meals and com- help brighten their holimunity gardens on a daily day season. This year, the basis. annual luncheon took the These nutritional meals form of a drive-through to assist homeless people of all adhere to social distancing ages, as well as individuals protocols.

“This year’s luncheon was special because we were able to provide hope for many who were affected greatly by the COVID-19 pandemic,” said Melanese Coakley, Salvation Army Community Relations & Development Associate.

“We are forever thankful to our donors and volunteers who all came together to help those in need.”

For the last 89 years, the Salvation Army’s annual Christmas luncheon has provided a festive event to celebrate the season while offering relief to those in need. CIBC FirstCaribbean International Bank sponsored this year’s event.

The Salvation Army remains on the frontlines, assisting those most

vulnerable in the community. The Christmas luncheon is a part of the organisation’s “Christmas Cheer” programme, an extension of their yearround feeding programme.

The Salvation Army, an evangelical part of the universal Christian church, has been supporting those in need without discrimination since 1865. The Bahamas division of the Salvation Army provides assistance through a wide array of social services that range from providing food for the hungry to relief for disaster victims, schooling and employment for the blind, outreach to the elderly and ill, clothing and shelter to the homeless, and opportunities for underprivileged children.

PAGE 12, Tuesday, December 29, 2020

THE TRIBUNE

Important advances for prostate cancer New advances in management prostate treatments B8WOMAN

PAGE 8, Tuesday, January 7, 2020

THE good news: prostate cancer, if detected early, can be successfully treated with a 98 percent prostate cancer specific survival ten years after diagnosis.

Advances in prostate cancer detection in the past 20 plus years led tonews: the advent of THEhave good prostate the prostate cancer early, management cancer, if detected can be option of active successfully treated, surveillance, with a 98 whereby clinically percent prostate cancerinsignifispecific cant early, low-volume prostate survival ten years after treatment. cancer can be monitored Advances in actively prostate cancer until the disease curadetection in the requires past 20-plus tive yearstreatment. have led to the advent of mencancer with management insignificant theMany prostate prostate have been able to option cancer of active surveillance; delay prostate cancerinsignificant treatment whereby clinically for long low-volume as eight to 12 years earlyas and prostate before management. cancer curative can be actively monitored Thethe unfortunate news: Bahauntil disease requires curamian men have a men one-in-six tive treatment.

Many with chance of developing prostate insignificant prostate cancer have cancer in to their lifetime. been able delay prostateAfrican cancer ancestry riskasfactor more treatmentis afor longfor asa eight, aggressive of before prostatecurative cancer 10, even 12form years that affects such men six to seven management. years on average thanBahatheir Theearlier unfortunate news: other mian racial men counterparts. have a one BRCA in six gene anddeveloping 2 mutations have chance1 of prostate acancer relatively highlifetime. occurrence in in their African Bahamian BRCA gene ancestry is men. a risk The factor for a more mutation increases the risk of aggressive form of prostate cancer prostate cancer and the that affects such four-fold men six to seven BRCA gene on 2 mutation increases years earlier average than their the risk of prostate cancerBRCA eightother racial counterparts. fold age2of mutations 70 years old. geneby1the and have use high of multiparametric a The relatively occurrence in MRI (magnetic resonance Bahamian men. The BRCAimaggene ing) of the prostatethe for risk cancer mutation increases of diagnosis and management prostate cancer four-fold and has the BRCA gene 2 mutation increases the risk of prostate cancer eightfold by the age of 70 years old.

The use of multiparametric MRI magnetic resonance imaging of the prostate for cancer diagnosis and management has evolved considerably in the past 20 years. Long term data from

THE TRIBUNE

evolved considerably in the past 20 years. Long-term data from multiple clinical trials has shown that multiparametric MRI can be an invaluable tool in the diagnosis, staging and active surveillance of prostate cancer.

Pre-prostate biopsy use of MRI has been a significant gamechanger in the detection and stratifying of prostate cancer.

MRI prostate cancer imaging can with high sensitivity and specificity determine which patients require prostate biopsies and the imaging of the MRI prostate allows cognitive or real time image directed biopsies of suspicious prostate lesions.

Traditionally, prostate cancer has been diagnosed using biopsy needles directed into the prostate gland with ultrasound guidance.

Ultrasound imaging does not generally show the location of Dr Greggory prostate cancer lesions.

The ultrasound guidance allows Pinto for the anatomical directed biopsy of the prostate. Ultrasound-guided prostate biopsies can miss prostate cancer altogether or biopsy lowgrade prostate andshown miss multiple clinical cancer trials has higher grade prostate MRI cancer. that multiparametric can be is estimated thatin25the percent of anItinvaluable tool diagnoultrasound guided prostate biopsis, staging and active surveillance sies under stage or fail detect of prostate cancer.

Pre toprostate prostate cancer present. biopsy use of that MRIis has been a Urologistsgame can changer now useinMRI significant the prostate images in real time detection and stratifying of proswith ultrasound guidancecancer and tate cancer.

MRI prostate specifically biopsy imaging can with high suspicious sensitivity prostate lesions determine and thus provide and specificity which patients require prostate biopsies and the imaging of the MRI prostate allows cognitive or real time image directed biopsies of suspicious prostate lesions. Traditionally, prostate cancer has been diagnosed using biopsy needles directed into the prostate gland with ultrasound guidance.

THE UROLOGY DOCTOR IS IN...

highly accurate prostate cancer detection.

MRI prostate imaging has led to a considerable reduction worldwide in unnecessary prostate biopsies, whereby biopsies are not performed if the MRI has not shown prostate cancer suspected lesions.imaging does not Ultrasound PARP (Poly Polygenerally showADP-Ribose the location of merase) inhibitors forThe prostate prostate cancer lesions. ultracancer an important sound are guidance allows advancefor the ment in prostate cancer research anatomical directed biopsy of the and treatment in 2019.

PARPprosis a prostate.

Ultrasound guided substance that can blocks an prostate enzyme tate biopsies miss in cells. altogether or biopsy low cancer In prostate grade prostate cancer cancer treatment, and miss PARP in keeping cancer higher may gradeaid prostate cancer.

It is cells fromthat repairing damestimated 25% of their ultrasound aged DNA, leadingbiopsies these prostate guided prostate under cancer as a prostate part of stage orcells failtotodie, detect targeted prostate cancer Urolotreatcancer that is present. ment.

PARP gists can nowinhibitor use MRItreatment prostate has an important rolewith in BRCA images in real time ultragene prostate sound mutation guidance related and specifically cancer.

Research prostate continues with biopsy suspicious lesions great future promise for the use of and thus provide highly accurate PARP treating prosprostateinhibitors cancer in detection.

MRI tate cancer. prostate imaging has led to a conThe development immunosiderable reduction ofworld-wide therapy and future vaccines for in unnecessary prostate biopsies, prostate is currently whereby cancer biopsies are not being perinvestigated has shown great formed if theand MRI has not shown potential.

One suspected type of prostate prostate cancer lesions. cancer vaccine called PARPtreatment (Poly ADP-Ribose PolySipuleucel-T (Provenge) has merase) inhibitors for prostate FDA for the advancemanagecancerapproval are an important ment advanced ment inofprostate cancermetastatic research prostate cancerinpatients with few and treatment 2019. PARP is a symptoms.

Provenge helps the substance that blocks an enzyme immune system to target prostate in cells. In prostate cancer treatcancer cells. may aid in keeping ment PARP cancer cells from repairing their damaged DNA, leading these prostate cancer cells to die, as a part of targeted prostate cancer treatment. PARP inhibitor treatment has an important role in BRCA gene mutation related prostate cancer. Research continues with great future promise

DEALING WITH HIP PAIN

By DR SUSAN DONALD

YOUR hip is a weightbearing joint, and all of your weight above the waistline has to be supported by your hips.

Whenever you stand, walk or run, the weight–bearing joints in your body are subjected to external forces like gravity and heel strike shock and the strain of repetitive motion, also, the weight of the body is supported on just one limb through tree-quarters of the gait (walking) cycle. During this time, the muscles in your hip must contract to keep your torso from falling to the opposite side.

Because of its structural design, the human body can usually deal effectively

with gravity and heel strike shock if it is good health with good posture ensuring a stable frame. But if you have slight postural imbalances and/or misalignment, those forces can gradually cause a variety of painful conditions which may affect not only your hips, but anything from

your knees to the lower back. Your chiropractor can determine the cause of your discomfort and recommend proper treatment.

If traumatic injury such as falling on the hip, a car accident etc. has been ruled out, and the pain seems to lessen or go away completely when you’re resting or off your feet, you may have a postural imbalance, a foot problem and/ or a leg length inequality that could be the cause of your hip pain.

The feet are the foundation of your body; they support everything above them, including the hips.

Feet function something like the basement of a house; if the basement doesn’t support the weight of the floors above it, stress

An important development in prostate cancer on the horizon is a simple urine test introduced in 2019 that makes use of urine samples taken at home. The PUR (prostate urine risk) test has been pioneered to detect aggressive prostate cancer and predict which patients require prostate for the usewill of PARP inhibitors in cancer within the next treatingtreatment prostate cancer. five years.

The development of immunoThe PUR hasvaccines the advantherapy and test future for tage of men being able to provide prostate cancer is currently being urine samplesand at home without the investigated has shown great need for anOne uncomfortable rectal potential. type of prostate exam.

PUR vaccine test looks at cancer The treatment called gene expression(Provenge) in urine samples Sipuleucel-T has and information FDAprovides approvalcritical for the manageas to whether prostatemetastatic cancer if ment of advanced detected, is low risk or anwith aggresprostate cancer patients few sive form. The PUR testhelps research symptoms.

Provenge the continues and it will hopefully immune system to target prostate be partcells. of future prostate cancer cancer diagnosis.

An important development in Geneticcancer testing on for BRCA gene prostate the horizon mutations locally is a simple are urineavailable test introduced so that that men,makes particularly with in 2019, use of urine asamples strongtaken family historyThe of prosat home.

PUR tate cancer and Risk) breast test cancer, (Prostate Urine has may lifetime risk been determine pioneered their to detect aggresof even siveprostate prostatecancer cancerand andbepredict more prostate which diligent patients in willearly require proscancer diagnosis.

Targeted tate cancer treatment withinmore the intense cancer next fiveprostate years. The PURscreening test has for Bahamian of men with BRCA the advantage men being able gene 1 or urine 2 mutations help to provide sampleswill at home prevent prostate cancer deaths without the need for an uncomby enabling earlier in fortable rectal exam.detection The PUR this groupexpression for prostate test high-risk looks at gene in cancer. urine samples and provides critiHospital calDoctors information as has to available whether to residents of The Bahamas, the prostate cancer if detected, is low risk or an aggressive form. The PUR test research continues and it will hopefully be part of future prostate cancer diagnosis.

Genetic testing for BRCA gene mutations are available locally so that men, particularly with a strong family history of prostate cancer and breast cancer,

cracks can appear in the walls at any level. And feet that aren’t properly aligned can contribute to stress and pressure at the hip joint.

Your feet also help to protect you against heelstrike shock. Every time the heel of your foot hits the ground, a shock wave travels up through your body, all the way to your head. The healthier and more stable your body is the more likely this shock is either dissipated or absorbed safely. But if your feet are not in their correctly functioning position at all times, more of this shock is allowed to move through the body and weaken other joints including the hips.

There is no time like the present to start chiropractic

may determine their lifetime risk of prostate cancer and be even more diligent in early prostate cancer diagnosis. Targeted more state-of-the-art MRI which intense prostate 3T cancer screening is importantmen advancement in foranBahamian with BRCA the diagnosis, surveillance and gene 1 or 2 mutations will help management of prostate cancer prevent prostate cancer deaths locally. by enabling earlier detection in Prostate cancer is afor very treatthis high-risk group prostate able disease but yet hundreds of cancer.

Bahamian are has diagnosed Doctors men Hospital availevery at an of incurable stage able toyear residents the Bahamas and far too many die the state-of-the-art 3TunnecessarMRI magily from this disease. netic resonance imaging, that is the age of 40, have anFrom important advancement in thea prostate specific antigen diagnosis, surveillance and blood mantest every year. Early detection agement of prostate cancer locally. is Prostate the key to the cure prostate cancer is a of very treatcancer. able disease but yet hundreds of Bahamian men are diagnosed • Dr Greggory is a board every year at an Pinto incurable stage certified Bahamian urologist and and far too many die unnecessarlaparoscopic surgeon. He has ily from this disease. trained South Africa From in theGermany, age of 40 years old, France, and is a member have and a PSA (prostate specific of the European of antigen) blood testAssociation every year.

Urology.

He can be contacted at Early detection is the key to the OakTree Medical Center, #2 Fifth cure of prostate cancer.

Terrace & Mount Royal Avenue.

Telephone: (242) Pinto 322-1145 (7); • Dr Greggory is a(6) Bahae-mail: welcome@urologycarebamian urologist who has trained in hamas.com, visit the website: South Africa, or Germany, France www.urologycarebahamas.com. and India. He is a member of the European Association of Urologists. Dr Pinto can be reached at Urology Care Bahamas at the Surgical Suite, Centreville Medical Centre, Collins Avenue and Sixth Terrace. Call 326 1929, e-mail welcome@urologycarebahamas.com, or visit www. urologycarebahamas.com.

care to ensure that you benefit from proper hip, knee and foot alignment.

You have nothing to lose but that pain in your hip.

• Dr Susan Donald can be reached at Life Chiropractic Centre, 9B Village Road. Call 393-2774.

NEW YEAR, NEW YOU2021 - TIME TO SET IT UP! FIT FOR Health Health coach coach Ethan Ethan Quant, Quant, of of Elite Elite Wellness Wellness Solutions, has succeeded Solutions, has succeeded in in his his weight weight loss loss journey journey and and now now wants wants to share his methods to share his methods with Bahamasin inan an with The the Bahamas effort to foster a culture effort to foster a culture of of wellness wellness and and conquer conquer the obesity epidemic the obesity epidemic.

I REMEMBER time in FIRSTLY, I want to awish all of my past when by the end of the you a happy new year. May 2020 yearyour I would already be best have year yet, and abanbring doned any thoughts of tryingand to you good health, happiness meet my health goals I had set prosperity. forI personally that particular year, mainly love the new year. because happened.

Yet There is alife certain freshness and over the years I have grown to energy that is unmatched at any realisetime theduring tremendous other the year. benLitefits you of have settingthe end-of-year erally entire year goals in regardless ahead of December you and that means there are countless possibilities and opportunities.

ETHAN QUANT

HEALTH COACH of whether or not I was successthat you are really serious ful inifachieving my goals for you the wouldn’t wait until the new year year. to start working on a new you.

They also say setting New Year’s

So now instead of getting lost in the holiday season, I actually call this time of year “separation season”. It’s a simple idea really: just work while everyone else is slacking off. The greatest benefit of this is that you end the year strong while building momentum that will carry you into the new year on a high.

The key to maximising “separation season” is to properly set goals, realistic goals, of things that you can do that are well within your power to accomplish even during this festive season.

Of course I would encourage you to use the SMART goal model to assist you with this goalsetting. What is a SMART goal you ask? SMART is an acronym for “Specific, Measurable, Attainable, Relevant and Time-bound”.

Here is a further breakdown: Specific – Your goal should clearly state what it is that you

want to accomplish. Think who, what, where, which, and why.

Measurable – Your goal should be broken down into measurable elements so that you can track your progress, or lack thereof.

Ask yourself, how are you going to determine whether or not you have met your goal?

Attainable – Your goal should be realistic. In other words, you goal should be something well within your ability to achieve.

Relevant – Your goal should align with your own values and beliefs. Simply put, your goal should be relevant to you.

Time-bound – Your goal should have a deadline. Giving your goal a deadline will create a sense of urgency for what you are working toward.

It is also helpful to think about what you want to accomplish in the next year as well, and naturally you would want these goals

to align so that your come January it’s a continuation of the process.This will give you a really good head start in crushing your new year’s goals, but more importantly, it will give you the structure needed to finish the year strong.

Once you have come up with your goals for the end of the year and for the new year, the next crucial step is developing an action plan.

I will cover that in next week’s article.

If you can take a couple of minutes now, write down two or three things that you want to accomplish between now and the end of the year. Remember, you want these to be things that you can realistically accomplish between now and New Year’s Eve.

failure and that you should give

can stay on track together.

truly working on becoming the

• You can contact Ethan Quant at ethan@elite-wellnesssolutions. com or on Instagram at @ ethanquant.

THE TRIBUNE

Tuesday, December 29, 2020, PAGE 13

ASHLEY INDULGES IN AN ARTISTIC AFFAIR from page one

Why female bosses get different reactions than men when they criticise employees

By MARTIN ABEL Assistant Professor of Economics, Middlebury IMAGINE that your boss Ethan calls you into his office. He expresses disappointment in your recent performance and lack of commitment. How would you react? Would you accept the feedback and put in more effort? Or would you pout in your office and start looking for a new job?

Now, would your reaction be different if your boss was not named Ethan but Emily?

I’m a professor of economics, and my research investigates this very question.

This has important implications for the success of women in leadership, such as Jane Fraser, who will take over Citigroup in February, becoming the first woman to lead a major Wall Street bank.

If giving feedback is more likely to backfire for women in positions of power, they may adopt less effective management strategies or become altogether less interested in holding leadership positions.

WOMEN IN THE WORKPLACE Women make up 45 percent of employees of S&P 500 companies. Yet, they only make up 37 percent of managers at the midlevel, 27 percent of bosses at the senior level and about 6 percent of CEOs. These disparities remain despite women having overtaken men in educational attainment. They have also begun scoring higher on leadership competency tests in recent years.

Existing studies do not find clear evidence of gender discrimination against job applicants for upper management. Due to methodological constraints, such research typically focuses on hiring for entrylevel positions.

Discrimination in promotion is much harder to study, as work interactions are more difficult for researchers to observe. My research, however, helps address this issue.

DROP IN JOB SATISFACTION For my study, I hired 2,700 workers online to transcribe receipts, randomly assigning a male or female name to a manager and randomly assigning which workers would receive performance feedback.

Results show that both women and men react more

negatively to criticism if it comes from a woman. The subjects reported that criticism by a woman led to a larger reduction in job satisfaction than criticism by a man. Employees were also doubly disinterested in working for the company in the future if they had been criticised by a female boss.

Women in upper management are not simply being ignored. Workers hired for the transcription in our study actually spent slightly more time reading and thinking about feedback from female managers.

Nor can implicit biases explain why employees are less likely to take criticism well from women.

While we found that workers in this study were, on average, more likely to subconsciously associate men with career and women with family, this tendency does not predict whether they discriminate against female bosses.

This type of discrimination is also not due to a lack of exposure to female supervisors. Workers stating that their previous female supervisor was highly effective were just as likely to bristle at the criticism from a woman boss.

Instead, what seems to drive the results are gendered expectations of management styles. Other studies have shown that workers are three times more likely to associate giving praise with female managers and twice more likely to associate giving criticism with male managers. People react negatively if something violates their expectations.

Case in point: critical female bosses.

It remains unclear the extent to which results from this study can be generalized across more traditional work settings. Yet, the “gig economy” and other remote work arrangements are a rapidly expanding part of the economy.

Some have argued that these jobs offer more flexibility and thus particularly benefit women. However, findings from this study highlight additional concerns about discrimination in the gig economy due to lack of regulatory oversight and equal opportunity protections in these jobs.

WHAT CAN BE DONE? Recently, some companies started trying to stem discrimination against women in management positions.

Several have employed “feedback coaches,” teaching workers to focus on the content of feedback rather than the identity of the

person providing it. There is also evidence that informing people of their biases may affect their behavior.

To end on a hopeful note: Negative reactions to criticism from female bosses in my study is lower among younger workers and disappears for those in their 20s.

Though younger employees may discriminate more as they age, it could be that this is a generational shift.

• This article is republished from The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts.

Read the original article here: https://theconversation.com.

wanted to just throw in the towel, but I had some amazing support coming from friends and family, and even strangers, believe it or not, urging me to not give up on my God-given talent, which I didn’t even know I had,” said Ashley.

She said Artistic Affair gives her the flexibility to work at her own pace while also bonding with her daughters, Alyssa and Aubrie. Ashley said her girls sometimes even help her with her work.

“My two girls are my biggest motivation because they enjoy helping me do it and I want to do this for them, because man, kids are ‘expensis’, like the Singing Bishop said. So it was an extra source of income.

I took jobs here and there, but it really became official when I made my Facebook page on July 3 of this year and started advertising my work,” she said.

“I wasn’t even expecting so many persons to reach out to me and I’ve been going steady ever since. My most memorable client experience I would have to say is when I did a selfie photo frame for a toddler that was in Princess Margaret Hospital for their

birthday. (The family) were so appreciative of it, and the feedback was amazing. I felt all bubbly inside knowing that I helped bring a smile to their faces during a tough time.”

Ashley said she believes what her clients love most about her services is the fact that they are able to customise all the designs to suit their likes and needs.

She said her overall goal for Artistic Affair is for it to be so profitable that she can make her business her full-time job so that she can spend more time with her girls before they grow up and leave home.

“For the new year, I would hope to gain new clientele, because I do have two new ideas brewing, and

stock up on more supplies.

You can never get enough of supplies as an artist. I also want to have financial stability so that I can provide the best life for my daughters. I want to grow not only financially but also personally because crafting has taught me so much about patience, time management and how to make use of resources around me. I want to create a name for myself where persons will recognise my quality of work wherever it goes.

I want to be able to learn from my past mistakes in this business so that I can perfect my skill. Last but not least, I also want one day be able to give back to the community,” said Ashley.

SECTION B

TUESDAY, DECEMBER 29, 2020

BAHAMIAN GIRL MAKES WAVES AS SHE CASTS HER...

First-time author strives to help kids everywhere realise their worth

BLACK GIRL MAGIC

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

in books and in spaces she felt they ought to be. Zahra said she went through a process of self-discovery to ONE little girl’s desire unlock her gifts and talents to see more representa- in order to find internal valtion of characters that look idation and self-confidence, like her, with her deeper and ultimately realise her skin tone and Black hair, worth. led to her writing her own Zahra often struggled book that has soared on the with reconciling her worth Amazon new release charts. with the lack of representa“Black Girl tion of Black Magic: A ‘My love of writing girls in books Book About came from a desire and other Loving Yourmedia. She self Just to encourage little would visit the Way Black girls like me public librarYou Are” ies and not to celebrate their by eightsee any Black uniqueness and year-old girls preBahamain beauty. I see that as sent on book Zahra Bryan covers.

As has been my mission in life, a result, she to help little Black making felt it was her waves since girls everywhere mission to do its release on her part to on their journey December bring a book of life to revealing 11. to the world The book and uncovering that not only quickly shot showcased their magical to number a beautiful one in the beauty within Black girl. new release and to celebrate She sees it as chars on her purpose Amazon and that beauty, and in life to help has been truly revel in their girls evefeatured rywhere to uniqueness.’ by various discover their media outworth, gifts lets, including Black Parent and talents and to celebrate Magazine, Bright Books the uniqueness that comes Org, and will be featured with them. on iHeart Radio, and “My love of writing came other leading international from a desire to encourage platforms. little Black girls like me to “For as long as I could celebrate their uniqueness remember, I have wanted to and beauty. I see that as be an author. I have always my mission in life, to help enjoyed reading,” Zahra little Black girls everywhere told Tribune Woman. on their journey of life to She wrote “Black Girl revealing and uncoverMagic” after being bullied ing their magical beauty in the second grade and within and to celebrate that generally feeling bad about beauty, and truly revel in the fact that Black girls their uniqueness,” she said. were not being represented “In Black Girl Magic”,

the book’s main character, Kaelyn, learns to look within to reveal her greatest gifts and talents.

According to Zahra, this book will allow children will learn how to build self-confidence.

Through the character of Kaelyn, readers will learn how important it is to identify their gifts and talents.

By the end of the book, by focusing on the importance of self-esteem, confidence and diversity, Zahra helps kids unlock the real magic within them.

Zahra will be embarking

on a book tour in January to share the message of children’s empowerment with the world.

When she is not reading or writing, you can find

Zahra in the pool or on the beach.

“I am a water baby. I am always swimming in the pool or the beach. I also love sports; my favourite

sports are gymnastics and tennis,” she said.

For more information about the young author and her endeavours, visit www. zahrabryan.com.

ASHLEY INDULGES IN AN ARTISTIC AFFAIR

By ALESHA CADET Tribune Features Reporter acadet@tribunemedia.net STRIKING out on her own as she established her event décor company, Ashley Adderley said she was pleasantly surprised by the reaction of her fellow countrymen and women.

“We know that Bahamians, not all, are known for tearing each other down rather than building each other up, but I must say the positivity and the encouragement towards myself and my business has been beyond amazing,” she told Tribune Woman.

The mother-of-two said running her own business from home allows her time to spend with her children as she earns a living.

Under her brand, Artistic Affair, she offers event décor services like providing backdrops for photo ops, photo booths, table decorations, and even calligraphy.

“With two kids, this can be quite tasking. However, I do a lot of research online, especially on Pinterest, to expand my creativity.

That helps me to stay focused as well as come up with unique ideas of my own.

The good part about what I do is that I’m able to put these creations together right at home,” she said.

But it wasn’t easy at the start.

“There were times when I got discouraged and SEE PAGE 13