FRIDAY, JANUARY 12, 2024
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Auto dealers optimistic 2023’s Drug lure: 50% 40% surge keeps momentum of school leavers lacking diploma
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
t /PU TFFO MBTU ZFBS T TBMFT AGPS WFSZ MPOH UJNF A BAHAMIAN new auto dealer yesterday voiced optimism that price t #.%" DIJFG stability and better availCFUUFS JG TVQQMZ UIFSF ability will further boost sales in 2024 following a 40 percent year-over- t )PQFT ABDIJMMFT IFFM year surge for the first 11 months last year. FBTFE QSJDFT TUBCJMJTF Ben Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tribune Business the sector was “hoping the trend” from 2023 continues into the current year after it enjoyed “numbers we haven’t seen for a very long time”. Estimating that his dealership, Bahamas Bus and Truck, would “easily” have sold 20-30 percent more vehicles last year had several of its more popular models been available, he said there were signs that the industry’s supply chain
“Achilles heel” may further ease in 2024. And, with new and used vehicle prices having increased by between 15-20 percent locally since the COVID-19 pandemic, Mr Albury told this newspaper any signs of stability will provide a further much-needed boost for the market following its previous struggles in the aftermath of the 2008-2009 financial crisis. While his dealership had not hit its December target, he added that all
signs suggested 2003 was “much better than the year before” even though the final month’s vehicle sale numbers have yet to be compiled. “We’re actually quit a ways ahead of the year before even taking into consideration that we only have figures for the first 11 months,” the BMDA chief said. “Even up until the end of November, we far surpassed 2022. The numbers I’m seeing are the best pretty much since they started being recorded.
t A4PCFSJOH #BIBNBT BNPOH XPSME T NPTU VOFRVBM TPDJFUJFT By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
BEN ALBURY We’re about 40 percent up year-over-year for the first 11 months. I’m hoping that when we get the final figures in it will be much better. “Some dealers are up more than others. It just depends on how the numbers are shared. I’m anxious to see what December brought. December was not a bad month for me, but it was not what I was expecting. It wasn’t a bad month by any stretch, but I didn’t
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Dorian ‘hangover’ cuts outlook for the Summit By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN insurer yesterday voiced optimism it will soon break free of its “Hurricane Dorian hangover” and escape any potential downgrade by the industry’s main creditworthiness assessor. Timothy Ingraham, Summit Insurance Company’s chief executive, told Tribune Business that yesterday’s decision by AM Best to cut its outlook on the company from ‘stable’ to ‘negative’ was simply the rating agency “saying the future does not look as
TIMOTHY INGRAHAM bright as it used to” rather than a reflection on its financial strength. While it maintained its A- (Excellent) and ‘a-’ (Excellent) ratings on
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‘Whistleblower’ official should go before PAC By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A TOP civil servant’s attorney yesterday argued that what his client has allegedly suffered must “in no circumstance be allowed to happen” to other public officials who seek to expose purported “wrongdoing”. Ashley Williams, in a statement responding to Tribune Business inquiries, confirmed Antoinette Thompson’s refiled lawsuit “focuses on the pivotal provisions within the Freedom of Information Act (FOIA) and the Public Finance Management Act which safeguard transparency, accountability and ethical
governance within governmental departments and ministries”. He argued that the allegations made by the permanent secretary in the then-Ministry of Transport and Housing, until she was placed on “unrecorded leave” in April 2023, “must be confronted” regardless of the outcome and suggested his client should appear before Parliament’s spending watchdog, the Public Accounts Committee (PAC), despite the ongoing litigation. “The allegations made by Ms Thompson must be confronted despite the ultimate outcome, so that what she has allegedly experienced
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“A SIGNIFICANT” number of young Bahamians are being lured into the drug trade as 50 percent of high school leavers graduate without even a diploma, a policy document is asserting. The newly-released Apprenticeship Policy Framework for The Bahamas, linking poor educational achievement and lack of basic skills to high crime and poverty levels as well as poor productivity and weak economic performance, voiced optimism that the launch of “work-based learning” for students in grade seven and upwards will “shift cultural norms” in these areas. The policy paper, released over the Christmas holidays, also suggested
PETER GOUDIE The Bahamas is among the world’s most unequal societies with its close rating to South Africa - the worst offender - branded “a sobering thought”. And it suggested the results of the last Bahamas Labour Force survey showed that “immigrants are enjoying the economic growth and not the local people” despite the economy’s more
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PAGE 2, Friday, January 12, 2024
THE TRIBUNE
STRENGTHENING BUSINESS RESOLVE IN THE NEW YEAR T
he year 2023 is now officially history. We have walked into a brand new year - for some, a new fiscal year - where trying to find a proper footing and bearings is not the best position to be in. Good track and field athletes know their success often depends on how they start the race. This week, then, we focus attention on five tips for micro, small and mediumsized enterprises (MSMEs) to strengthen their business resolve this year. Improve your digital brand You have heard this point made so many times before, but digital marketing becomes more relevant each year. Your business should have a digital presence, whether that looks like a website, an online store or social media. A strong digital infrastructure will allow you to connect with your customers in
change throughout the year, but having a direction will help you to start off strong in your efforts. If your website has not been updated in a while, it is a good idea to evaluate its user-friendliness and effectiveness. Invest in technology
IAN FERGUSON multiple ways. Use what you know about your target audience to determine where to grow your digital presence. Build a social media strategy for the upcoming year, including determining how much time and resources to allocate towards this marketing. Your overall digital strategy might
When you are caught up in day-to-day operations, it is easy to overlook the state of your technology. Before jumping into the fast pace of a new year, run thorough equipment and hardware checks to make sure everything is working in top condition. If the wear and tear of the past year has left vital equipment running behind quota, it might be time for maintenance or replacements. Old technology can slow down business growth, so it is beneficial to research new tools and software. Update your computer software and get the latest installations to make sure your programs are compatible with your
devices, and are free of bugs and glitches. Identify areas of improvement in your operations and consider whether investing in new technology can boost your business. Reassess your financial goals The beginning of a New Year is a good time to look back on the previous one and see how you either met or fell short of your financial goals. If certain ventures did not work out like you expected, sometimes it is better for business to cut your losses. Focus on the strengths of your business and turn your resources towards growing in those areas. Depending on how your year went, you might be feeling confident to take more risks in the New Year. Reviewing your budget and identifying where you can cut back on expenses can free up resources to put towards new ventures.
Review vendors and services A business should review their vendors and services periodically. This is a good thing to do while you are already reviewing your budget. Weigh the value of these contracts against the cost, and decide if it would be beneficial to continue using that vendor or service for another year. Start researching alternatives and requesting quotes now. Determine if there are services you are using that you are better off handling in-house. Or, vice versa, consider which internal processes can be outsourced to help boost efficiency. Thank your employees Whether you have a few employees or 100 people on your payroll, showing your appreciation for their hard work is a great way to keep morale high heading into a new year. If an employee did outstanding work or
made the workplace better for others, do not make the mistake of beginning the New Year without giving them recognition. Ask for your employees’ input when setting goals for the next year. Regardless of the size of the company, involving your people in choosing the direction of the business will give them a sense of ownership in their work, and you will see higher employee engagement as a result. UÊ \Ê > Ê,Ê iÀ}ÕÃ Ê ÃÊ >Ê Ì> i ÌÊ > >}i i ÌÊ > `Ê À}> Ã>Ì > Ê `iÛi « i ÌÊ V ÃÕ Ì> Ì]Ê >Û }Ê V « iÌi`Ê}À>`Õ>ÌiÊÃÌÕ` iÃÊ Ü Ì Ê Ài} > Ê > `Ê ÌiÀ >Ì > Ê Õ ÛiÀÃ Ì iÃ°Ê iÊ >ÃÊ ÃiÀÛi`Ê À}> Ã>Ì Ã]Ê L Ì Ê V> ÞÊ > `Ê } L> Þ]Ê «À Û ` }Ê Ài iÛ> ÌÊ Ã ÕÌ ÃÊ Ì Ê Ì i ÀÊ LÕà iÃÃÊ }À ÜÌ Ê > `Ê`iÛi « i ÌÊ ÃÃÕiÃ°Ê iÊ >ÞÊLiÊV Ì>VÌi`Ê>ÌÊÌVV ÃÕ Ì> ÌÃJÊV À> Ü>Ûi°V °
Cruise ship brings 3,000 on ‘Virgin’ Nassau arrival A VIRGIN Voyagesbranded cruise ship brought almost 3,000 passengers to Nassau when it made its first-ever call on the Bahamian capital on January 8, 2024. Nassau Cruise Port, the Prince George Wharf operator, welcomed the Valiant Lady’s guests, captain and crew through the traditional plaque exchange ceremony on board the ship. Marques Williams, Nassau Cruise Port’s operations manager,
presented it to Captain Justin Lawes on behalf of the company. “The arrival of a new cruise ship is always a cause for celebration here. Having recently toured the stunning Scarlet Lady, I am particularly excited to welcome Valiant Lady to our shores,” Mr Williams said. “The variety of ships that grace our harbour, each offering its own unique charm and experiences, is a constant source
PM to kick-off Bahamas Business Outlook event THE Prime Minister will deliver the keynote address at the 33rd Bahamas Business Outlook conference that will be held on Thursday, January 25, at Baha Mar's convention centre. Philip Davis KC will speak on the conference theme, 'Future Bahamas: Branding the national identity and planning for success'. Joan Albury, president of TCL Group, the Business Outlook series' founder and chief organiser, said in a statement: “First, I must say how grateful we are to have Prime Minister Davis as keynoter and Aliv Business as our partner. "I can say with a great deal of assurance that our upcoming Bahamas Business Outlook 2024 is going to be dynamic, especially in terms of the highly knowledgeable and current industry leaders who are slated to present throughout the day. As has become our practice, as a major treat, we have put together vibrant panels focused on collaboration as an essential component for advancement, in various sector." There will be four panels. Kerry Fountain, executive director, Bahama Out Islands Promotion Board (BOIPB); Latia Duncombe,
the Ministry of Tourism, Investments and Aviation's director-general; Joy Jibrilu, the Nassau Paradise Island Promotion Board's (NPIPB) chief executive; and Prince Rahming, PricewaterhouseCoopers (PwC) Bahamas managing partner, will comprise the tourism panel. Appearing on the business panel are Christel SandsFeaste, Higgs & Johnson partner; John Rolle, Central Bank of The Bahamas governor; Gowon Bowe, Fidelity Bank (Bahamas) chief executive; and Timothy Ingraham, Bahamas Chamber of Commerce & Employers’ Confederation (BCCEC) chief executive. An environmental panel will feature Mark Daniels, host of Bahamas at Sunrise; Dr Rhianna NeelyMurphy, the Department of Environmental Protection and Planning's (DEPP) director; and Carlos E. Palacious, principal, BRON International. Finally, Niambi Hall Campbell-Dean, assistant professor at the Department of Psychology, Sociology and Social Work, University of The Bahamas; Dion Cunningham, Bahamian pianist, educator and interdisciplinarian; John Cox, art director, The Current
of inspiration for us. It fuels our commitment to making Nassau Cruise Port a welcoming and inclusive destination for passengers, crew and residents. We welcome the Valiant Lady and hope to see more Virgin Voyages ships here soon.” Valiant Lady is the second Virgin Voyages ship to call on Nassau. The port team celebrated the inaugural visit of Scarlet Lady in October 2021. Gallery, Baha Mar; and Emmanuel Gibson, executive chef, One & Only Ocean Club, will comprise the culture panel. Other featured speakers include Amber Carey, Cable Bahamas & Aliv's consumer solutions and marketing vice-president; Dr James Iferenta, vicepresident of medical affairs, Doctors Hospital Health System; and a professional development and executive education professor from Carleton University in Ottawa, Canada. Conference moderators are Ria Christina, host of You & Your Money, and Mark Daniels, host of Bahamas at Sunrise. “In addition to crafting an agenda that will ignite your curiosity, the day will also include interactive activities like a business expo of vendors, lunch, a guided tour of the ECCHO gallery by John Cox, electric car test drives courtesy of Easy Car Sales, a coffee break featuring Cielito Coffee products and a cocktail reception courtesy of Bristol Wines & Spirits," said Mrs Albury. "We hope that you will use these opportunities for networking, knowledge exchange and fostering meaningful connections. We want you to leave Bahamas Business Outlook 2024 both inspired and well connected."
L to R: Nassau Cruise Port team members Amanda Freedman, commercial manager and events curator; Shawn-Gabrielle Gomez, marketing and communications manager; and Marques Williams, operations manager, exchanged plaques of appreciation with Captain Justin Lawes and Andras Rafajlovics, general manager of Valiant Lady.
PALM CAY TARGETS 2030 FOR CONSTRUCTION FINISH By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A SOUTH-EASTERN New Providence development is targeting 2030 for its full build-out with more stages to come after the current phase four. Jak Hannaby-Cummins, Palm Cay’s managing director, told Tribune Business that construction on the community’s fourth phase
will begin by next month and continue using its existing 300-plus workforce. Its first two phases were sold out before construction finished, and just one unit in phase three remains available for sale. Confirming that “there are more phases to come after Phase IV”, Mr Hannaby-Cummins said units will start at $1.275m with prices going up to $2.95m with four of them already sold. The units in Palm Cay’s first two phases
BAR CHIEF SAYS ‘WORLD CLASS’ JUSTICE REQUIRES INVESTMENT By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net
KHALIL PARKER KC
DELIVERING “world class” justice “requires meaningful financial investment and not empty rhetoric”, the Bar Association’s president urged yesterday, as he called for
started from as low as $300,000 and for some lots went up to $6m. Mr Hannaby-Cummins said: “Phase IV is just one phase. We have many phases ongoing right now. We have over ten different projects. We have projected sales over many phases.” “We have One Marina, Phase three underway at the minute, which has about six months to run in construction. We’ve got the Cove that has three or four months to run in construction. We have Galleon Phase III, we have Palms, we have Little Palms, we have Cay Village and then we have various smaller projects as well.” the judiciary’s budget to be increased. Khalil Parker KC, addressing the opening of the legal year said: “We will continue our collaborative efforts to ensure the continued improvement of our judiciary and that it delivers the modern and world class services we are entitled to expect. “However, this requires meaningful financial investment and not empty rhetoric. We look forward to an increased budget for the judiciary, and the
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Friday, January 12, 2024, PAGE 3
‘NOVEL HUMAN RIGHTS ARGUMENT TO COUNTER OECD BLACKLISTINGS centre to help facilitate the resolution of commercial disputes. He said the Government is encouraging mediation as a dispute resolution alternative for some matters, and a formal arbitration centre will help facilitate that. There will also be a “revision exercise” for several pieces of existing legislation during 2024. “In the interim we are also undertaking a reprint exercise where key pieces of legislation will themselves be consolidated and officially released. We are starting with financial legislation inclusive of the
Stamp Act, Value Added Tax Act and Real Property Tax Act, which we should release shortly,” Mr Pinder added. “We will have real time uploads of Gazettes separated in categories, such as legislation, intellectual property filings and general notices. We look to put this in place over the next six months which should go a long way in assisting practitioners in providing effective advice and guidance to clients.” “This year we look forward to passing a new Legal
Bowe: Govt should pay off debt and work at surplus
He said: “I’ve heard, policymakers make an asinine statement that deficit spending is appropriate. Deficit spending and economic cycles is appropriate, deficit since inception of independence 50 years is not appropriate fiscal policy. Because it is meaning we are borrowing against the future, not simply borrowing to advance development to finance development. “Government debt is not a bad thing if it is future benefit. If you say you are borrowing to fix road infrastructure or to actually enhance the infrastructure of what it is we’re going to do as a society, go for it, because we should have taxes that can help pay for that because it will generate economic activity. If you are borrowing to pay salaries… that is like borrowing for a vacation and Christmas gifts. When the party done, the party done.”
By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Government was yesterday said to be developing a “novel” legal argument for presentation before the United Nations (UN) that The Bahamas’ “human rights” are being breached by blacklisting tactics. Ryan Pinder KC, the attorney general, speaking at the opening of the new legal year, said: “We are working on a novel human rights position to advance globally and with
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net A TOP financial expert has said the government should aim to pay off its debt and operate at a surplus - for the first time since Independence. Gowon Bowe, CEO of Fidelity Bank Bahamas, speaking at a Rotary West meeting yesterday, said the pandemic has revealed several shortcomings in the Bahamian economy and called for more meaningful fiscal planning to ensure the economy can withstand global threats. He explained that although the country’s largest industry has rebounded in the last year, a large shock such as a recession in the US could leave the country vulnerable. He said: “COVID taught us why these are the challenges we have in terms of
RYAN PINDER KC the United Nations. It is our belief that the arbitrary and biased approach by the EU and OECD on financial matters, and specifically with their various lists is a
accountability, execution and integrity and reporting. COVID taught us that we have had a severe failure to plan through, I’m going to say boastful years of independence. The Bahamas has not had a single year of fiscal surplus since independence and COVID highlighted that, because we didn’t have any reserves. Our macroeconomic indicators all took a downward turn as they did in the rest of the world. We have a concentration in tourism, and what happened during COVID. It went from seven million to 700,000. “Last year, yes, we rebounded and exceeded eight million in terms of tourists. But we should not forget what happens when we have threats to tourism. And the United States has various views around recession, our largest market, and what could happen if we have a recession.”
‘Bahamas needs to implement a National Development Plan’ By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net GOWON Bowe, CEO of Fidelity Bank Bahamas, has renewed his call for the government to implement a National Development Plan to direct and benchmark improvements on key economic and social metrics. Mr Bowe said the pandemic highlighted the need for the National Development Plan to be implemented as it will provide clarity during adverse economic times. He said: “Ultimately what COVID demonstrated for us was the lack of a national development plan… a failure to plan is planning to fail. And ultimately, what COVID highlighted for us was that there are going to be periods when we do not have clear sight of all that has taken place. “And a plan allows us to continue the methodical steps that we settled and have planned even when we don’t have clarity. Because ultimately, as the sun rises, the clouds dissipate and we have greater clarity, if we follow the trajectory that we were on with a clear plan, we hopefully will still be going in the right direction.” He said the National Development Plan should have input from all areas of society including businesses and civil society and that it will provide a benchmark to judge the performance of policymakers. He said: “If we devise a national development plan that gains consensus, not unanimous agreement, consensus. That says civil society, the citizens, the businesses, the government all are in relative agreement over what the vision for the country is and how we will get there, then we will actually start grading and evaluating our politicians and our policymakers, by execution, not philosophy.” He said that without a National Development Plan the country is not leaving a clear vision for future generations to aspire to and that leaders “owe” the general public accountability, execution and integrity.
He said: “We’re not leaving in place what [future generations] can build upon and they can be comfortable with. We’re leaving them with debt, we’re leaving them with no plan as it relates to what the country’s vision and strategy is. And we are leaving them with purely a legacy of sweet talk. “Our policymakers, our political leaders, our civic leaders, it is not that they gift us by accountability, execution and integrity. They owe us that. “Ultimately, if we are talking about the Road to Recovery versus the Road to Perdition, I start by saying it has to start with a National Development plan. It has to start by helping persons to envision how they contribute to the development of the country. And then it has to end with accountability that says, I can show you what I have done, not what I’ve told you I’ve done. A goal without a plan is just a wish. In the Bahamas, you know, we do a lot of wishing because we set a lot of goals and we have very few plans.”
breach of our human rights, and particularly a breach of our right to development. “We have constituted a working group to review this issue and prepare a position paper, which we look to support our human rights advocacy at the United Nations (UN).” The Bahamas is presently on the European Union’s (EU) blacklist of jurisdictions considered non-cooperative on tax matters - an initiative that takes its cue from the Organisation for Economic Co-Operation and Development’s (OECD) harmful tax practices forum.
He added that although the debt-to-GDP ratio has fallen during the last year it is due to an increase in GDP and the actual debt has not contracted and warned that the economy has not grown to a the point that we are “out of the woods”. He said: “Government had some very realistic impacts coming out of COVID, so we saw contraction in GDP going from 12 billion down to 10 billion. We’ve rebounded yes, but we’ve not gone at a growth trajectory that allows us to feel that we’re out of the woods. “Government revenues went in at around 20 percent of GDP and that went from what was buoyant at near 2.5 billion pre COVID to under 2 billion during COVID. “Our debt to GDP went pre COVID 70 percent up to near 100 percent. It is now coming back down into more normal levels under
Similarly, Mr Pinder yesterday said The Bahamas is also treating climate change and its impacts as a “human rights” issue. “We are currently preparing a written statement to submit to the International Court of Justice requesting an advisory opinion on the obligations of states in respect of climate change,” he added. “We are calling for differentiated responsibilities of states based on proportional contribution to global greenhouse gas emissions.” Mr Pinder added that the Government will acquire facilities for a commercial court and arbitration
80 percent. But the numerator, which is the debt has not contracted at all, the improvement in the ratio has solely been as a result of a rebound in GDP. And so it looks buoyant, but what happens in GDP contracts again.” Mr Bowe said that government should aim to repay the fiscal debt so that the country can operate at a fiscal surplus instead of giving “false dreams” that the debt is much improved. He said: “When we talk about integrity, we should not be trying to sell what is a false dream, we should not be saying that our debt situation is much improved, we should be acknowledging the truth of the matter, that our economy is doing better and so therefore our level of debt is better manageable. But we have to be realistic that we have to pay the piper at some point in time and start to repay the debt and that means
getting us to a point of fiscal surplus.” He also noted the strength of the country’s foreign reserves but questioned if the Central Bank would be able to cover the repayment of the fiscal debt. He said: “The reality is we have buoyant reserves, but COVID highlighted for us the actual stability of those reserves. There are over $2 billion, but let’s break it down into some of the actual information. We have now more than four and a half billion dollars in foreign currency debt. So if we have to pay back all of our debt, do we have enough US dollars to do so?” He said that borrowing funds can be beneficial to the development of the country if the funds are spent on long term investments such as infrastructure that will generate economic activity.
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DAVIS SAYS POLICIES WILL BOOST HOME OWNERSHIP By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net PRIME Minister Philip “Brave” Davis said his administration is committed to ensuring affordable and accessible home ownership for Bahamians as he toured the construction site of Renaissance at Carmichael yesterday. Mr Davis said policies such as increasing the exemption level for stamp duty to $300,000, offering VAT refunds on up to $40,000 on construction services and materials are investments in the future of the country and will create more homeownership opportunities. He said: “As we maintain our focus on reducing the cost of living and creating more opportunities for Bahamians, affordable opportunities for homeownership are an essential component of our blueprint for a fairer, more prosperous Bahamas. “Our rent-to-own project is a cornerstone of our mission. The First Home Owners Stamp Exemption is another critical step.
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PRIME Minister and Minister of Finance Philip Davis gives remarks.
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PAGE 4, Friday, January 12, 2024
THE TRIBUNE
Drug lure: 50% of school leavers lacking diploma FROM PAGE B1 rapid-than-expected recovery to pre-COVID output after pandemic-related restrictions were lifted. “Shortcomings in education and training are amidst the main challenges identified in the 2020 United Nations common country analysis (CCA), with 50 percent of youth who complete secondary school not qualified to receive a diploma,” the Policy Framework asserted. “Many local youth do not leave school with the requisite foundational learning levels to qualify to enter apprenticeship, and those that do are more inclined to an academic learning pathway rather than an apprenticeship pathway, also known as blue collar work. “A significant amount of young people also gravitate towards the drug trade or employment that generates income without the need for high skill levels, including occupations such as taxi drivers or bartenders.” These deficiencies are what the proposed National Apprenticeship Programme is intended to help cure. “A quality
apprenticeship system that becomes entrenched in the Bahamian culture from an early school-going stage, suggested at least from grade seven, will shift cultural norms and allow local employers to engage with local youth within a workbased learning context,” the Policy Framework said. “Social inequality is a significant feature in The Bahamas, with a Gini coefficient of 0.53 in 2019 - a sobering thought when compared to the worst in the world, South Africa, at 0.63. The Bahamas National Labour Force survey indicated that immigrants are enjoying the economic growth and not the local people. “The large numbers of work permits requested from the Department of Immigration attest to this fact, and it is also considered a reason why a quality apprenticeship system is needed in The Bahamas to support the skills development process for local youth in particular.” No empirical evidence was presented to support the assertion that expatriate, or foreign workers, are benefiting more from the post-COVID recovery
than Bahamians. However, a significant proportion of the work permits issued and renewed annually by the Department of Immigration go to Haitians, Jamaicans and Filipinos for jobs such as gardeners, handymen, construction workers and maids. These are all jobs that Bahamians can perform but elect not to do, with many viewing such posts as beneath them or the salaries on offer too low. “Current Bahamian economic prospects are on an upward trajectory, but skills are needed for residents, in particular the youth, as at present many foreigners are employed when those jobs could go to local people with the requisite skills,” the Policy Framework said. “There is also a view that even Bahamians who have the necessary skills are not employed, possibly due to a lack of relationships between employers and those that are unemployed. A quality apprenticeship system that creates a talent development pipeline for young Bahamians placed as apprentices with local employers is considered a vital intervention to
correct this current skewed employment trend.” Peter Goudie, the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) labour division head, and a member of the National Apprenticeship Taskforce that helped to design the proposed scheme, yesterday voiced hope that an initiative which will certify young Bahamians as possessing particular skills sought by employers will help to “curb” crime and other anti-social behaviours. “Hopefully it will have a societal impact, both on the labour force and crime and poverty,” he told Tribune Business. “There’s going to be a whole bunch of ripple effects from this. Employers are going to benefit because they will get certified workers. “If it works to its full effect, it’s going to increase people will be trained, so they will be more productive and that helps the economy also. It’s a good news story. We just have to get it off the ground. We’re ready and trying to do it the right way. The initiative is badly needed because we need to get certified workers and employers can have
more confidence in their employees.” The existing Apprenticeship Act is more than 40 years-old, having been implemented on January 1, 1983, and Mr Goudie said the replacement legislation - which will accompany the Policy Framework - is set to be “finalised soon” and presented to the Government before being taken to Parliament. “We’ve got a lot of work ahead of us,” he acknowledged. “We hope to have it up and running in full this year for sure. It’s going to help a lot of people, give them soft skills in maths and English if they need it. They’re also going to be certified; that will be the biggest issue. “A lot of it will be City and Guilds. The Bahamas Technical and Vocational Institute (BTVI) and the National Training Agency (NTA) offer that now. The University of The Bahamas will be involved, and many specialist trainers will be involved. There’s going to be a lot of certifications for areas such as electrical, plumbing.” Apprenticeship initiatives are nothing new in The Bahamas. The Government
AUTO DEALERS OPTIMISTIC 2023’S 40% SURGE KEEPS MOMENTUM FROM PAGE B1 hit the target I had set for myself,” Mr Albury continued. “December was not what I had anticipated, but I had been setting the bar so high because the rest of the year was so good. December has its challenges because of the holidays and people prioritising other things, which I understand. Hopefully sales come back to where they were.” As for 2024’s prospects, Mr Albury said: “I have a very good feeling that it’s going to be a very good year. I think that the trend that we’re hoping will continue. I’m hoping vehicle prices start to stabilise some, and I’m also optimistic that
the availability, which has been the Achilles heel for many of the members, will start to come in. I’m very optimistic. “New and used vehicles, over the past four years, have probably gone up in price by 20 percent. Since COVID, we’ve probably had about a 15-20 percent increase in vehicle prices on average. The extent of it all depends on the model and the challenge in product. All that has been in play as a factor. “Any kind of slowdown or easing in the US may free up some of the supply chain and give us access to inventory that we’ve been so desperately trying to acquire. Prices are still very high in the new car market.
Both the costs of trying to acquire vehicle components and shipping costs have been astronomical. We’ve been hearing rumours shipping costs may come into line a bit more, so that’s good news for us. “You know me - I’m always optimistic otherwise I’d go crazy. In 2023 we saw numbers that we haven’t seen in years, that we haven’t seen in a very long time. I can tell you it’s been many years. I can tell you it’s been a long time.” Asserting that 2023 could have been even better for himself and other Bahamian new auto dealers, had an adequate supply of vehicles been available to meet the demand, Mr Albury said of his own company:
“I know for myself I could probably have done 20-30 percent more in sales. Easily. I haven’t had access to two of my best-sellers. They’ve basically got almost none.... “Sales are in momentum, and as long as we get the product and the product is available at a fair price I don’t see anything that will pull us back. As long as the economy remains strong, tourism remains strong and foreign direct investment (FDI) is there, I think we’re in a good position. “There’s nothing that I can put a finger on that would slow us down. We hear this is in line, that is in line. We have to see what the year brings. I think we’ve done a good job in
attracting the right type of investors. People with projects on the table have depth and are able to push through,” he added. “I know there’s a lot of development going on, a lot of projects coming online, so that will help to boost things. The tourism industry is very robust, and that is what we need to keep money moving around.” Mr Albury and the BMDA had previously warned that the requirement for all firms with annual turnovers of $5m and above to submit full audited financial statements to validate their Business Licence filings would be “cost prohibitive” for auto dealers given their status as high turnover, low margin businesses due to the existence of price controls. It’s cost prohibitive,” he told Tribune Business at the time, pointing to the expense associated with undergoing a full audit. “It’s far-reaching in our opinion, and I guess in a lot of the opinions being expressed elsewhere. We have sent a letter to the Government requesting we have some consultation to discuss it. “It’s going to put a big expense on us, especially
previously partnered with the Inter-American Development Bank (IDB) on a $50m ‘Skills for Current and Future Jobs in the Bahamas’ project, although the funds were ultimately used to provide employment support during the COVID-19 pandemic. This, in its original form, saw apprenticeship - with its emphasis on ‘on-the-job’ training - as key to young and unemployed Bahamians acquiring the skills and necessary experience that will endear them to employers, and enable them to find sustainable jobs. The latest initiative has taken this concept on and moved it forward to the point of implementation. “We’ve been working on this from before Hurricane Dorian and COVID,” Mr Goudie said, referring to the IDB-funded effort. “They had to take away our funding because it was needed elsewhere. A lot of work had been done on this already, and a lot of those people who worked on the last version we have brought back. We’ve got a lot of expertise on board so there’s no reason why this shouldn’t take off.” at this time when we’re trying to regain our footing after COVID and supply shortages. We’re also dealing with price controls. We cannot pass the increase associated with these additional accounting fees on to the consumer, which means we have to absorb them along with a lot of other cost increases when it comes to doing business.” Pointing out that price controls force Bahamian auto dealers to “work on very slim profit margins”, Mr Albury said just two BMDA members’ have financial year-ends on December 31. All other dealers are “spread out throughout the year”, which he added would result in additional Business Licence-related audit costs, although Mr Wilson yesterday stressed this issue has been addressed with BICA. The BMDA president, though, argued that the Department of Inland Revenue’s ability to conduct audit inspections of companies suspected of evading or under-reporting taxes, as well as the more robust sanctions regime contained in the Business Licence Act, should provide sufficient deterrent to potential wrongdoers and make a full audit - especially when the fee is based solely on turnover - unnecessary.
BAR CHIEF SAYS ‘WORLD CLASS’ JUSTICE REQUIRES INVESTMENT FROM PAGE B2 administration of justice more broadly, as we seek to ensure that those charged with offences are afforded a fair trial in a timely manner. We also look forward to the improvement to the disposition cycle of civil matters.” Acknowledging that “significant progress on critical issues” occurred during 2023, Mr Parker added: “We have seen the passage, and look forward to, the full implementation of the Court Services Bill. The Government has acquired the relevant properties for
the construction of a purpose-built Supreme Court complex, and we look forward to the groundbreaking. “And, as of the first day of March 2023, the Supreme Court has fully transitioned to the Supreme Court Civil Procedure Rules, and the new Legal Profession Act is also on the eve of circulation for consultation. Bar Council is cognisant of the fact that these accomplishments have been fostered and undergirded by our successful partnership with your lordship and the Attorney General.”
NOTICE
GAMELINK INTERNATIONAL LIMITED (In Voluntary Liquidation)
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 9th day of January, 2024. The Liquidator is Mr. Daniel Morris of 15261 SE Anderson Road, Damascus, Oregon 97089-8775, U.S.A.
DANIEL MORRIS Liquidator
THE TRIBUNE
Friday, January 12, 2024, PAGE 5
‘Whistleblower’ official should go before PAC FROM PAGE B1 will in no circumstance be allowed to happen to any other civil servant who dares to expose what in their view is” wrongdoing, Mr Williams asserted. “We also advocate for Ms Thompson’s appearance before the Public Accounts Committee apart from the ongoing litigation. The public deserves transparency in the use of their tax dollars, regardless of the outcome of the allegations in court. A Public Accounts Committee hearing will allow the public to make informed decisions and, if necessary, hold their government accountable. “Ms Thompson has been a part of the civil service in varying capacities for almost
as long as this nation has been independent, and has done so with the utmost integrity regardless of the administration in office.” The Public Accounts Committee is the only select committee in the House of Assembly where the Opposition has a majority of members, therefore enabling it to scrutinise Government actions more effectively. Ms Thompson’s claim, which has yet to be tested or proven before the courts, is alleging the Government violated the Freedom of Information Act’s ‘whistleblower’ protections by “intimidating” and sidelining her after she sought to highlight purported “wrongdoing”. She is now seeking “exemplary” and “aggravated”
damages for alleged breaches of that law and the Public Finance Management Act after the Government purportedly sought to “punish” her for drawing attention to alleged “clear acts of public misfeasance”. In her amended legal action, filed with the Supreme Court on December 22, 2023, the public official of 42 years’ standing is alleging that a “breach of duty” was not only committed towards her but the taxpayer due to the failure to scrutinise multi-million dollar contract awards “to ensure that the Bahamian public was receiving value for money”. Asserting that she could have faced “penal punishment” for the alleged
breaches of public service protocols and procedures within the then-ministry, Ms Thompson is claiming she was subjected to an “orchestrated” campaign “to silence her from further ‘whistleblowing’ on the various infractions” alleged to be occurring within the Ministry of Transport and Housing. The untested claim portrays a situation where Ms Thompson’s relationship with Jobeth Coleby-Davis, minister of transport and housing, Gaynell Rolle, the ministry’s under-secretary and other officials in her ministry and its various departments appeared to have broken down such that she was being excluded from key meetings and allegedly squeezed out of her post.
The Freedom of Information Act’s section 47 stipulates that “no person may be subject to any legal, administrative or employment related sanction, regardless of any breach of a legal or employment-related obligation, for releasing information on wrongdoing, or that which would disclose a serious threat to health, safety or the environment, as long as he, acting in good faith, and in the reasonable belief that the information was substantially true and disclosed evidence of wrongdoing or a serious threat to health, safety or the environment.” Among the wrongdoing covered by these protections is “failure to comply with a legal obligation” or “corruption, dishonesty, or
Dorian ‘hangover’ cuts outlook for the Summit FROM PAGE B1 Summit’s financial strength and long-term creditworthiness, AM Best altered its outlook on the basis that the Bahamian property and casualty underwriter’s profits and financial performance have not rebounded to levels enjoyed pre-Dorian and there remains “uncertainty” over when they will. Its action effectively warns of, or flags up, the possibility that it may downgrade the financial strength and creditworthiness of Summit, which is the carrier through which Insurance Management places much of its general business, within the next 12-24 months if the necessary rebound fails to occur. Mr Ingraham, though, told this newspaper he is confident that Summit will escape any such downgrade and that “the drag as a result of Hurricane Dorian will begin to loosen its grip”. The Bahamian underwriter’s margins have also been squeezed in prior by not fully passing on reinsurance rate increases to all its customers, but it is now taking action to remedy the situation. “Obviously since Dorian reinsurance rates have been rising, but we haven’t increased our rates charged to clients at the same level in all cases. Margins have been compressed over a period of time, and there are one or two contributing factors that play into it that we can address and have begun to address,” Mr Ingraham explained of Summit’s recent financial performance. “We are optimistic that we will see the drag as a result of Dorian begin to loosen its grip. Our performance hasn’t been very strong compared to our peer group in the region at the moment. We are performing adequately compared to our Caribbean peer group. “There has been a drag on the results since Dorian because of various factors on the [reinsurance] treaties, penalties on the treaties. There have been penalties on the reinsurance treaties as a result of Dorian. We anticipate we will start to be clear of those and things will start to improve,” he added. “We obviously still have a situation where costs are still increasing, especially reinsurance costs that are increasing at a faster rate than we’ve previously been able to pass on to all our customers. That means margins get compressed for a while, but we are optimistic we will soon be out of this cycle and margins will soon return to normal.”
For 2022, Summit generated a $907,185 profit, which represented a slight increase upon the prior year’s $700,041. Prior to Dorian, the bottom line would have been in the ‘several millions’, but Mr Ingraham said yesterday’s AM Best action was no reflection on the insurer’s financial strength or ability to pay claims. “The financial strength, I don’t think, is an issue even with AM Best,” Mr Ingraham said. “They didn’t see any issues with that - the balance sheet strength. It’s just the results, the performance over time, but the balance sheet strength remains....It’s them saying the future does not look as bright as it used to look. It’s not dim, it’s not dark. It’s just not as bright as it’s been in the last few years. AM Best’s move is similar to what the likes of Moody’s and Standard & Poor’s (S&P) have done in the past with The Bahamas’ sovereign credit rating, cutting the country’s outlook to ‘negative’ to signal the possibility that a downgrade may be coming. However, in relation to Summit, Mr Ingraham told Tribune Business: “Barring any major storm losses I think we’re confident that the balance sheet strength will remain as it is and continue to grow stronger. What it [the lowered outlook] means is that for the last few years the results have not been historically what they were prior to Dorian. “That was the result of Dorian, which we hope was a once-in-a-century storm, but the company’s balance sheet remains very strong. AM Best did affirm that, and affirmed the ‘A-’ rating. As far as being concerned about the financial strength of the company, that’s ‘A-’ (Excellent), and they have not changed the long-term issuer rating of ‘a-’ (Excellent). “These are components that people need to pay attention to, as they speak to the financial strength of the company. It’s kind of the hangover from Dorian which produced a drag on the results for the last few years since it occurred.” To counter this, and the reinsurance market “operating cycle” of increasing rates, Mr Ingraham added: “Most of our clients would have seen a rate increase in the last year to counteract some of that. We are managing some classes of business as tightly as possible - the motor account, where we have a bit more control. We don’t control the claims, but don’t have so much reinsurance pressure there.
“There are one or two other measures we think will help bring things around.” AM Best, in justifying the outlook cut, said: “The negative outlooks reflect the decline in Summit’s operating performance results over the past several years. “Operating metrics have deteriorated from levels that supported the company’s strong assessment level to what is more in line with an adequate assessment level when compared with Caribbean peers. This trend has taken place over multiple years with Hurricane Dorian in 2019 as an approximate inflection point. “Underwriting pressure post-Dorian is reflective of the operating environment in The Bahamas, where reinsurance dependence is very high and primary market
pricing has been historically soft,” the rating agency added. “While the Caribbean market is correcting and providing Summit and its peers opportunities for material rate increases and gross premium growth, this shift was driven by reinsurance market hardening, which will limit opportunities for both net premium and profit growth. “Summit’s management has taken actions toward restoring historical operating performance through a combination of expense reduction initiatives and rate increases. However, it remains uncertain if results will recover to levels that fully support a strong operating performance assessment,” AM Best continued.
“High geographic concentration and competitive pressures also are reflected in the company’s limited business profile assessment, which also reflects high economic and financial system risk and the moderate political risk of The Bahamas.” However, on a more positive note, AM Best said: “These credit ratings reflect Summit’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.... “Summit’s balance sheet strength is assessed at the strongest level, based on its strongest level of riskadjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR),
serious maladministration”. Ms Thompson is also alleging that she was “arbitrarily” placed on leave in breach of General Orders 1110, which governs the civil service, and stipulates that all disciplinary proceedings for public officers by governed by Public Service Commission regulations. Asserting that she was placed on “unrecorded leave” in April 2023, one month after she “brought to [Mrs Coleby-Davis] attention several glaring oversights relating to government contracts issued from the Ministry of Transport and Housing”, Ms Thompson alleged she had been “constructively dismissed” and is claiming for loss of current and future earnings plus pension rights and loss of employment.
in addition to its conservative investment portfolio predominantly composed of cash and short-term assets, and the company’s utilisation of quality reinsurers to reduce its net exposure to natural catastrophes and especially wind events. “The organic growth of surplus over the years has been achieved through favourable earnings, but limited by shareholder dividends. AM Best expects the company’s risk-adjusted capitalisation to moderate over the near term due to premium growth in excess of equity growth, and higher catastrophe probable maximum losses from higher reinsurance retentions. “However, capitalisation is expected to remain supportive of the company’s strongest level balance sheet strength assessment.”
PAGE 6, Friday, January 12, 2024
THE TRIBUNE
Average long-term mortgage ‘NOVEL HUMAN RIGHTS ARGUMENT rates rise again, reaching their highest level in 4 weeks TO COUNTER OECD BLACKLISTINGS By ALEX VEIGA AP Business Writer
FROM PAGE B3 Professions Act. This new Act will give more oversight to the Bar Council, will provide for continuing education requirements and will provide for specialty practice certificates where attorneys will be able to hold themselves out as approved specialists in particular practice areas. We hope to have the Bill ready for consultation with the bar in February.” Turning to the Registrar General’s Department, Mr Pinder said it will officially launch its Corporate Administrative Registry Services (CARS) portal within weeks. “CARS is a fully digital corporate registry platform that allows the user to incorporate a new company, file corporate documents, pay annual fees and obtain certified copies of corporate documents from the comfort of his own home or office, without having to physically visit the Registrar General’s Department,” Mr Pinder added.
“For the past three months, a few financial corporate service providers have been participating in a pilot testing of the new platform to acclimatise Registrar General’s Department staff to the new platform and to ensure a satisfactory user experience. “Following the launch of CARS, the Registrar General’s Department will immediately begin the digitisation of the Civil Registry, which will include a fully digitised civil registry services platform that allows the user to obtain certified copies of birth, death and marriage records, as well as certified copies of recorded documents without having to visit the Registrar General’s Department. “The Registrar General’s Department has also made significant progress in advancing a suite of legislative amendments to enhance intellectual property protection in the jurisdiction,” Mr Pinder added.
THE average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in four weeks. The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, eased this week, bringing the average rate to 5.87% from 5.89% last week. A year ago, it
averaged 5.52%, Freddie Mac said. The latest increase in the average rate on a 30-year home loan follows a nineweek string of declines at the end of last year that lowered the average rate after it surged in late October to 7.79%, the highest level since late 2000. Still, the average rate on a 30-year home loan remains sharply higher than just two years ago, when it was 3.45%. That large gap between rates now and then has helped limit the number of previously occupied homes on the market by discouraging homeowners who locked in rock-bottom rates from selling. It has also crushed homebuyers’
purchasing power at a time when home prices have kept rising even as sales of previously occupied U.S. homes slumped more than 19% through the first 11 months of last year. “Mortgage rates have not moved materially over the last three weeks and remain in the mid-6% range, which has marginally increased homebuyer demand,” said Sam Khater, Freddie Mac’s chief economist. “Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers.”
The overall decline in mortgage rates since late October has loosely followed a pullback in the 10-year Treasury yield, which lenders use as a guide to pricing loans. The yield, which in mid October surged to its highest level since 2007, has largely fallen on hopes that inflation has cooled enough for the Federal Reserve, which has opted to not move rates at its last three meetings, to shift to cutting interest rates this year. Housing economists expect that the average rate on a 30-year mortgage will decline further this year, though forecasts generally see it moving no lower than 6%.
DAVIS SAYS POLICIES WILL BOOST HOME OWNERSHIP FROM PAGE B3 By waiving VAT duties on conveyance and mortgage instruments, we’re directly reducing the costs for first-time homeowners. “We’ve raised the exemption for stamp duty on homes up to $300,000 and offered VAT refunds on construction materials and services. These aren’t
just policies; they’re direct investments in your future, in your ability to build and own a part of this beautiful nation.” He added that policies have been implemented to help facilitate land transfers and that the Central Bank’s recent decision to remove the mortgage indemnity insurance requirement
NOTICE
NOTICE
NOTICE is hereby given that SAMUEL TALERANT, Carmichael Road, Nassau, The Bahamas 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 12th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that JULIEN CHARLES, Soldier Road, Nassau, The Bahamas 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 12th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
for mortgages will lower the costs associated with home ownership and allow more persons to qualify for mortgages He said: “Our commitment to affordable housing goes beyond direct homeownership. It extends to better facilitating the transfer of land between family members and loved ones. Reducing VAT on property transfers and eliminating it on land transfers between joint tenants is about respecting your heritage and valuing the land passed down through generations.
“We welcome the Central Bank of The Bahamas’ recent decision to ease guidelines for domestic banks and credit unions regarding residential mortgages. This move, reducing the minimum equity requirement and eliminating the mortgage indemnity insurance for lower down payments, is a significant step forward. It promises to lower the cost burden for many aspiring homeowners and expand credit access to additional qualified borrowers.”
NOTICE NOTICE is hereby given that MARJORIE DECIUS of Thompson Lane, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of January, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE NOTICE is hereby given that FANEL-SON CHANTAL of East Street, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 5th day of January, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE NOTICE is hereby given that CHANDELINE CHERISMA of Flamingo Gardens, Nassau, The Bahamas 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 12th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE NOTICE is hereby given that ANGELICA MARIA PACHECO ALVAREZ of P.O. Box N-8289 #416 West Bay Street, Nassau, The Bahamas 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 12th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
PAGE 8, Friday, January 12, 2024
THE TRIBUNE
TECH INNOVATIONS THAT CAUGHT OUR EYE AT CES 2024 Las Vegas Associated PPress FROM electric cars to transparent TVs to the latest accessibility tech and virtual assistants backed by artificial intelligence, there was a wide range of innovations on display at the CES tech show in Las Vegas this week. The best of it aimed to solve big real-world problems. Some of it aimed to make your life more fun. And some of it was just a little out there. Associated Press journalists spent last week combing cavernous exhibit halls for the most exciting, interesting and unusual tech innovations. At a conference where excess and opulence manifested itself in nearly everything, it was encouraging to see how much progress has been made toward developing assistive technologies for the disabled. Boston-based GyroGear, a medical tech startup, debuted a hand-stabilizing glove at CES 2024 that it hopes will help Parkinson’s patients and those with hand tremors regain control of their lives. Dutch startup Whispp is using
audio-to-audio-based AI to give people with vocal impairments a chance to have real-time conversations in their own natural voices. OrCam introduced a host of devices designed to help those with hearing loss deal with auditory overload. And Sony reserved some prime space in its booth to showcase its Access controller for PlayStation. Using software and AI to achieve inter-device connections between smart devices, your home and even your car was central to many of the biggest tech companies at CES 2024. Samsung’s new “AI for all” mantra meant integrating its smart home devices and appliances to perform tasks in unison — like the act of recipe selection automatically pre-heating your oven. The South Korean tech giant also announced a collaboration with Hyundai to develop “home-to-car” and “car-to-home” services for all Kia and Hyundai vehicles. Google is expanding Chromecast to more apps and devices. And Amazon endorsed the Matter casting standard to create more inter-operability between smart devices.
PEOPLE walk by a CES sign during the CES tech show Wednesday, Jan. 10, 2024, in Las Vegas. Photo:John Locher/AP with a trio of electric vans that can quickly swap body modules to change their functionality. And Vietnam-based electric upstart VinFast unveiled an electric truck concept. Bosch Mobility and Hyundai both doubled down on hydrogen as an energy solution. And Hyundai showcased its AI-based autonomous construction excavator. Chef-like robots, AIpowered appliances and other high-tech kitchen
Meanwhile, Mercedes-Benz unveiled a new AI-powered virtual assistant to personalize interactions between drivers and their cars. CES 2024 was brimming with new electric vehicles, remote construction vehicles, hydrogen engines and other mobility advances. Honda premiered two concept cars, dubbed the “Saloon” and “Space-Hub,” for a new global EV series. Kia decided to go modular
gadgets are holding out the promise that humans don’t need to cook — or mix drinks — for themselves anymore. GE wants you to start smoke food indoors, while generative AI is powering a Brisk smart grill that aims to make the art of barbecuing foolproof. Freezing your own ice cream at home takes hours, but ColdSnap’s new ice cream machine prepares your frozen treat in two
THE WEATHER REPORT
5-DAY FORECAST
ORLANDO
High: 78° F/26° C Low: 61° F/16° C
TAMPA
TODAY
TONIGHT
SATURDAY
SUNDAY
MONDAY
TUESDAY
UV INDEX TODAY
Mostly sunny and humid
Mainly clear and humid
Humid with plenty of sun
Humid; rain and drizzle in the a.m.
Humid with clouds and sun
Breezy in the a.m.; some sun, humid
The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.
High: 83°
Low: 71°
High: 85° Low: 70°
High: 80° Low: 69°
High: 83° Low: 71°
High: 82° Low: 71°
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
AccuWeather RealFeel
90° F
73° F
92°-73° F
84°-71° F
89°-73° F
88°-74° F
High: 76° F/24° C Low: 59° F/15° C
E
W
ABACO
S
N
High: 78° F/26° C Low: 74° F/23° C
12-25 knots
S
WEST PALM BEACH High: 83° F/28° C Low: 71° F/22° C
10-20 knots
FT. LAUDERDALE
FREEPORT
High: 83° F/28° C Low: 72° F/22° C
E
W S
E
W
High: 80° F/27° C Low: 71° F/22° C
MIAMI
High: 83° F/28° C Low: 74° F/23° C
8-16 knots
Ht.(ft.)
Today
8:10 a.m. 8:30 p.m.
3.3 2.5
1:43 a.m. -0.7 2:40 p.m. -0.5
ALMANAC
Saturday
8:59 a.m. 9:23 p.m.
3.3 2.6
2:36 a.m. -0.7 3:28 p.m. -0.6
Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 72° F/22° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high .................................. 80° F/27° C Last year’s low ................................... 58° F/15° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................... trace Normal year to date ..................................... 0.49”
Sunday
9:48 a.m. 10:17 p.m.
3.3 2.7
3:30 a.m. -0.7 4:16 p.m. -0.6
Monday
10:38 a.m. 11:13 p.m.
3.1 2.8
4:26 a.m. -0.5 5:05 p.m. -0.6
Tuesday
11:30 a.m. -----
2.8 -----
5:24 a.m. -0.3 5:56 p.m. -0.6
Wednesday 12:11 a.m. 12:26 p.m.
2.8 2.6
6:27 a.m. -0.1 6:49 p.m. -0.5
Thursday
2.7 2.3
7:33 a.m. 0.1 7:45 p.m. -0.4
KEY WEST
High: 81° F/27° C Low: 74° F/23° C
ELEUTHERA
NASSAU
High: 83° F/28° C Low: 71° F/22° C
1:12 a.m. 1:25 p.m.
Low
Ht.(ft.)
SUN AND MOON Sunrise Sunset
6:57 a.m. Moonrise 5:39 p.m. Moonset
8:11 a.m. 7:07 p.m.
First
Full
Last
New
Jan. 17
Jan. 25
Feb. 2
Feb. 9
CAT ISLAND
E
High: 83° F/28° C Low: 72° F/22° C
N
S
E
W
8-16 knots
S
8-16 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.
Forecasts and graphics provided by AccuWeather, Inc. ©2024
High: 80° F/27° C Low: 75° F/24° C
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TIDES FOR NASSAU High
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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minutes. And Bartesian’s cocktail-mixing appliance can make as many as 60 different kinds of drinks for you. Meanwhile, for much younger consumers (and their parents), Veba Baby’s smart baby bottle monitor tracks the expiration of breast milk and formula. The product — which also serves as a bottle locator — monitors the temperature, when a baby feeds from the bottle, and more to detect freshness. And everything is logged onto an accompanying app. ... what does it all mean? It means you see an extremely sharp image, but the most interesting TVs on display this CES were barely visible at all. Consumer electronics giants LG and Samsung unveiled transparent TVs at the show. Almost invisible when turned off, LG’s 77-inch transparent OLED screen can switch between transparent mode and a more traditional black background for regular TV mode. Samsung’s transparent MICRO LED-powered display worked in a very similar way, but was on display as a concept.
ANDROS
SAN SALVADOR
GREAT EXUMA
High: 82° F/28° C Low: 73° F/23° C
High: 80° F/27° C Low: 76° F/24° C
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High: 82° F/28° C Low: 73° F/23° C
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LONG ISLAND
TRACKING MAP
High: 82° F/28° C Low: 76° F/24° C
8-16 knots
MAYAGUANA High: 83° F/28° C Low: 75° F/24° C
Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.
CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 81° F/27° C Low: 77° F/25° C
High: 81° F/27° C Low: 77° F/25° C
GREAT INAGUA High: 83° F/28° C Low: 77° F/25° C
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8-16 knots
8-16 knots
MARINE FORECAST ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR
Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:
WINDS SE at 10-20 Knots SSW at 10-20 Knots SE at 8-16 Knots S at 6-12 Knots SE at 8-16 Knots SSE at 8-16 Knots E at 8-16 Knots ESE at 8-16 Knots SE at 8-16 Knots S at 8-16 Knots S at 10-20 Knots SSW at 12-25 Knots SE at 8-16 Knots S at 7-14 Knots SE at 8-16 Knots ESE at 7-14 Knots ESE at 8-16 Knots SE at 7-14 Knots ESE at 10-20 Knots SE at 8-16 Knots SSE at 7-14 Knots SSW at 7-14 Knots SE at 8-16 Knots ESE at 6-12 Knots SE at 8-16 Knots S at 7-14 Knots
WAVES 3-5 Feet 3-5 Feet 1-2 Feet 0-1 Feet 2-4 Feet 2-4 Feet 2-4 Feet 2-4 Feet 2-4 Feet 2-4 Feet 1-3 Feet 2-4 Feet 1-2 Feet 0-1 Feet 1-3 Feet 1-3 Feet 2-4 Feet 1-3 Feet 3-6 Feet 3-6 Feet 1-2 Feet 1-2 Feet 2-4 Feet 1-3 Feet 1-2 Feet 1-3 Feet
VISIBILITY 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles
WATER TEMPS. 76° F 76° F 75° F 75° F 78° F 78° F 79° F 79° F 77° F 77° F 75° F 76° F 78° F 78° F 79° F 79° F 79° F 79° F 78° F 78° F 77° F 76° F 78° F 78° F 78° F 77° F