01172017 business by tribune242

TUESDAY, JANUARY 17, 2017

business@tribunemedia.net

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$100m NHI budget ‘isn’t much money’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The $100 million budget for National Health Insurance’s (NHI) primary care phase “isn’t much money”, the Medical Association of the Bahamas (MAB) president says, as he warned the Government it must “compromise” with the private sector. Dr Sy Pierre told Tribune Business in a recent interview that the Government’s primary care budget was relatively small when measured against the 350,000 Bahamians and legal resi-

MAB chief: Just $500 per uninsured person Govt must ‘compromise’ for private sector buy-in ‘Rapidly running out of time’ before election dents it wants to enroll in NHI. Taking just the 200,000 said by the Government

to currently lack private health insurance, Dr Pierre said this translated into a per capita spend of just $500 per year - less than $50 per month. He added that this paled in comparison with private health insurance costs, where premiums can reach around $1,000 per month, suggesting that the NHI primary care budget could be rapidly exhausted - especially if patient utilisation rates exceed projections. “It’s interesting,” Dr Pierre told Tribune Business. “If you look at the numbers, they’re saying there are 200,000 people without private insurance,

and they’re giving $100 million to primary care. “If you look at that, that’s $500 per person, per year. That’s not a lot of money. That’s under $50 per month, per person. You can’t really get private insurance with that.” Throw in the 100,000plus Bahamians and residents with private health insurance, many of whom will likely receive primary care under NHI when their employers drop existing schemes, and the per capita spending allocation becomes even smaller. Dr Pierre said the See pg b4

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1,000 resumes on first recruitment day for Baha Mar By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Baha Mar yesterday received “in excess of 1,000” resumes from job seekers as the first wave of hiring kicked-off for the previously stalled $3.5 billion resort. Robert Sands, the resort’s senior vice-president of government and external affairs, told Tribune Business that more than 1,000 Bahamians had uploaded their resumes to the company’s website, careers.bahamar.com, on the first day of recruitment. “We had 500 additional inquiries to our Facebook

Further 5,000 inquiries on Facebook Total matches first wave’s 1,500 available posts Phones ‘ringing all day’; no surprise at volume page, and a large number of persons turned up personally. We informed them that the had to apply and submit See pg b6

Waste plant ‘makes Stellar: Waste plant no economic sense’ cost cut by one-third By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

New Providence landfill

BISX-listed fund: 10% pt rental rise is ‘dividend trick’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

The administrator for the BISX-listed Bahamas Property Fund yesterday said a 10 percentage point increase in average occupancy rates would “be the trick” to unlocking longawaited dividend payments. Michael Anderson, RoyalFidelity Merchant Bank & Trust’s president, told Tribune Business he “couldn’t remember” when the publicly-listed real estate investment trust (REIT) had last paid dividend returns to shareholders. With occupancy rates at the Fund’s two flagship properties, the Bahamas Financial Centre and One Marina Drive, standing in the “low 70 per cent” and 60 per cents, respectively, Mr Anderson said he was targeting a 75 per cent average before resuming dividends.

Property Fund targets 75% average occupancies Would then resume returns to shareholders “We obviously still generate reasonable cash and cash flow from the business, but it’s not at a level where we can pay dividends,” he told this newspaper. “We would do so much better if we can get occupancies up. “We’ve got to get to a higher level of occupancies on a more regular basis to get the cash flow to pay dividends. Hopefully, 2017 will be a better year. We’re better off than we were a couple of years ago, but it’s still not good.” Mr Anderson then added: “I’m hoping to get occupancies up by 10-15 See pg b4

A Bahamian waste provider consortium yesterday said Stellar Energy’s $400 million proposal for the New Providence landfill “makes no economic sense”, and warned against this nation being used as “a testing ground for unproven technology”. The Waste Resources Development Group (WRDG,a 10-strong group of Bahamian waste services providers, expressed doubts over both the price tag and technology Stellar is proposing to employ should it ever be given the go-ahead by the Government to takeover the landfill’s management. WRDG, whose members include BISX-listed Bahamas Waste, Impac, Wastenot and United Sanitation,

Bahamian providers blast Stellar Energy proposal Bahamas would be ‘test bed for unproven’ system No precedents to test for ‘reliability’ of offer wrote in a lengthy statement to Tribune Business that Stellar’s chosen plasma gasification technology had not been proven “commercially viable”. It based this assessment on the fact that “all ventures” worldwide, which employed plasma gasification, had been forced to See pg b5

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Stellar Energy yesterday slammed critics of its proposed waste-to-energy plant at the New Providence landfill as “Monday morning quarterbacks”, disclosing that capital investment costs had been cut by more than one-third. J P Michielsen, the company’s chief executive, told Tribune Business that the investment required to construct Stellar’s plant had come down from an initial $650 million to $400 million. Arguing that people were getting “hung up” on the cost, he explained that better technical and engineering information on the waste going into the landfill, coupled with improved technology availability, had resulted in Stellar reducing

Landfill proposal drops from $650m to $400m Slams ‘Monday morning quarterbacking’ of rival Refutes concerns over technology, waste ‘mining’ its initial estimates. Mr Michielsen was responding to concerns raised by the Waste Resources Development Group (WRDG), the 10-strong consortium of Bahamian waste service providers, with whom it could be potentially competing to See pg b6

THE TRIBUNE

Bahamas branded ‘debt crisis victim’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Bahamas’ ‘junk’ downgrade has drawn sympathy from a religious development coalition, which says this nation’s fate highlights the need for structured processes to resolve “financial crises”. Jubilee USA, in a statement entitled ‘Bahamas: Another victim of Caribbean debt crisis, described this nation as “the latest small island” to be challenged by debt in the wake of Standard & Poor’s stripping it of ‘investment grade’ creditworthiness. “Caribbean islands are at the forefront of an escalating global debt crisis,” said Eric LeCompte, executive director of Jubilee USA. “Frequent hurricanes, unpredictable tourism revenues, high poverty levels and unsustainable debt levels make up a recipe for financial crisis. “The Bahamas is another Caribbean example for why we need processes to resolve financial crisis. The Bahamas is the latest small island to face these challenges, but it won’t be the last.” Jubilee USA added that the Bahamas’ public debt has risen by 30 per cent in the past four years, while its poverty rate increased by one-third over the past 15 years. Mr LeCompte, who serves on United Nations groups on debt and finance, is said to have worked with religious leaders to solve debt crises on several Car-

Religious coalition: Nation latest to face challenge Calls for ‘processes’ to resolve Caribbean woes ibbean islands, including Grenada and Puerto Rico. Jubilee USA added that while many Caribbean nations were at ‘high risk’ of debt crisis, only Haiti was classified as ‘low income’ and eligible for traditional debt relief initiatives from international financial institutions. It pointed out that Grenada’s debt was 94 per cent of the size of its economy, while its poverty rate is 37 per cent. Grenada’s religious leaders, Jubilee USA and regional partners won more than $100 million in debt relief in 2015 restructuring agreements between Grenada’s government and its creditors. The agreements included a “hurricane clause” to delay debt payments in the event of a major storm. Consecutive hurricanes in 2004-2005 caused damage equal to twice the size of Grenada’s economy. The ‘junk’ downgrade, and loss of ‘investment grade’ status, is potentially highly damaging for the Bahamas and its reputation for economic stability, as it signals to the international capital markets that this nation’s creditworthiness (the Government’s ability to pay its debts) is slipping into

dangerous territory. The Government will likely have to pay more for current and future debt issues, raising its debt servicing (interest) costs. The S&P action thus threatens to trigger an increase in the annual Budget sums that the Government must allocate to pay interest and principal redemptions on its debt - something that is already costing taxpayers more than $500 million per year. The added debt servicing costs would suck money away from areas such as national security (Police and Defence Force), social security, education and health, impacting the quality of life for the ‘average’ Bahamian. The ‘junk’ downgrade may also deter investors assessing the Bahamas as a place to invest, as it raises questions about the Government’s economic management. The S&P downgrade to ‘junk’ status is likely to further exacerbate the uncertainty gripping many Bahamian businesses as the country heads into the pregeneral election build-up a time when locally-owned companies traditionally hold back on growth and investment projects. S&P justified the downgrade to BB+ (speculative or “junk” grade) from BBB- (investment grade) on the basis that it is now projecting the Bahamian economy will only grow by 0.3 per cent this year, down from its 1.2 per cent estimate in April. The rating agency added that lower Gross Domestic

Product (GDP)/economic growth would also negatively impact the Government’s tax revenues and fiscal consolidation plans, which were already progressing more slowly than expected. Echoing the International Monetary Fund’s (IMF) recent warnings, S&P said government spending was still outpacing revenues despite the introduction of Value-Added Tax (VAT), with Hurricane Matthew restoration costs set to inflict “further pressure” on expenditure in 2017. “At the same time, we believe that this lower growth trend will challenge the government’s ability to meet its fiscal projections, likely resulting in rising debt,” S&P said. “The erosion of the Bahamas’ creditworthiness reflects these growing vulnerabilities within a context of a weak external position with growing levels of external debt, double-digit unemployment, high nonperforming loans in the banking system, and high household indebtedness.” S&P added that Baha Mar was unable to come to the Bahamas’ rescue in time to avoid a downgrade, effectively dismissing the $3.5 billion development’s economic impact for much of 2017. “The country’s largest tourism project, Baha Mar, is set to open in phases beginning in 2017. We believe that it will take time before the resort is able to operate at full capacity,” the rating agency added.

Tuesday, January 17, 2017, PAGE 3

Water Corp signs Out Island upgrade deals The Water and Sewerage Corporation (WSC) has signed a series of contracts designed to improve water supply on several Family Islands. It agreed a $1.69 million contract with Bahamas Hot Mix to extend and improve water supply to San Salvador, completing a a tender process that began in August 2016. The work involves the supply and installation of more than nine miles of water main, and 160 service connections. The project is expected to take about eight months to complete, and will impact communities from Cockburn Town to Sandy Point. Leslie Miller, the Water & Sewerage Corporation’s chairman, said: “The project will provide high quality piped water service to some areas of San Salvador for the first time, and is a part of the Government’s commitment to provide for the needs of its citizens throughout the Family Islands.” The project is a component of a recently-approved $41 million upgrade programme, partially funded by a $28 million loan from the Caribbean Development Bank (CDB). In addition to San Salvador, the Water Supply Improvement Project will also address the needs of Cat Island, Crooked Island, Eleuthera, Long Island, New Providence, and South Andros. A contract for South Andros was

signed in November 2016, and the New Providence components are expected to be completed in February 2017. The Water and Sewerage Corporation has also signed an engineering services consultancy (ESC) contract with ACO JV (Bahamas) for the construction supervision of the CDB Water Supply Improvement projects. The joint venture consists of three Bahamian firms – Caribbean Civil Group, Operational Management & Engineering Services, and Applied Consulting and Engineering – and the contract signing concludes a tender process that started in June 2016. Services under the contract include procurement advisory; review and approval of designs’; and supervision of construction activities to ensure the project infrastructure is of the highest quality. Another key aspect of the consultancy is to ensure that environmental impacts are mitigated, and that climate change considerations are taken into account during the design and execution of the works. The remaining contracts for the CDB Water Supply Improvement Project should be signed in 2017. These will cover infrastructure works in Cat Island, Crooked Island, Eleuthera and Long Island, in addition to other associated services.

Commission analyst gains top designation

Carl R. Culmer Jr

An Insurance Commission analyst has gained the Associate in Captive Insurance (ACI) designation. Carl R. Culmer Jr, a general and external insurance analyst in the regulator’s regulation and supervision unit, obtained the designation in December 2016 after completing an intense study programme. Successful candidates are required to complete six core courses (now seven),

two electives and three ‘hot-topic’ webinars. Mr Culmer, who joined the Commission in 2011, said: “As a regulatory analyst, there is a unique opportunity to see an entity’s operations through a business’s economic life cycle. “The ACI courses provide the supplementary technical knowledge for one to gain an appreciation for the captive insurance business from the perspec-

tives of the captive insurance owner, captive insurance manager, third-party service providers and supervisory authority. “I am truly grateful to the Insurance Commission of the Bahamas for granting me the opportunity to attain the ACI designation, which reflects its ongoing commitment to both train and challenge its staff to achieve the highest standards of professionalism.”

An engineering services consultancy (ESC) contract is signed with ACO JV (Bahamas) for the construction supervision of the CDB Water Supply Improvement projects. Pictured during the signing are, back row, L to R: Leslie Hutchinson, WSC project co-ordinator; Leslie Miller, WSC chairman; Raymond McKenzie, ACO JV [Bahamas] lead partner. Front row, from L to R: Glen Laville, WSC general manager; Ayla Isaacs, WSC project manage, infrastructure, Nairn, ACO JV [Bahamas] partner; 3x8-BW-TRIB.pdf 1 1/6/17 9:34 Dennis PM and Mario Bastian, ACO JV [Bahamas]partner.

Realtor gets first time top seller recognition LCF-2017 General

A Bahamian realtor has been recognised as top producer for the first time. Christine Wallace-Whitfield’s single-minded focus on real estate paid dividends in 2016, as she was recognised by her firm, Island Living Real Estate. “I wanted to attack 2016 with a purpose so I put my head down and went after it,” she said. “This is the third time in my 20 years in real estate that I was top producer, but this is the first time I was recognised for it, so it’s a real honour.” Ms Wallace-Whitfield also serves as Bahamas Real Estate Association (BREA) vice-president. Twice before, with a small firm in Grand Bahama, she led in transactions, but the market was much less ac-

Christine Wallace-Whitfield tive. “Christine is a real gogetter with a great personality,” said Rachel Pinder, principal broker at Island Living Real Estate. “She works hard, knows how to maximise social

media, which is critical in an age when nearly every search for property starts online, and she has the kind of character that inspires trust. We are delighted that she joined Island Living two years ago and proud to honour her for her achievements.” Ms Wallace-Whitfield said she believes her sales reflect market trends. In New Providence, they tended to be Bahamian buyers either purchasing their first home, a condo on Paradise Island or upgrading to a larger home, taking advantage of favourable interest rates on mortgages. “I also had two sales in Exuma, and both of those were to people from abroad searching for a vacation home or second home,” she added. C

CMY

PAGE 4, Tuesday, January 17, 2017

$100m NHI budget ‘isn’t much money’ From pg B1 Government appeared to be hoping that private doctors, through signing up to be providers under NHI, would help to “remove some of the burden off the public system” and thus give it ‘breathing room’ to be strengthened. However, Tribune Business understands that no private physicians have signed up to provide services yet, and with midJanuary already reached, the Government is rapidly running out of time to implement NHI prior to the upcoming general election. Dr Pierre warned the Government it would likely have to reach an accommodation with private primary care providers to encourage them to participate, especially on proposed re-

muneration rates that represent as much as a 70 per cent cut to existing compensation. “If they want people to provide that service, there’s going to have to be some compromise on what they’re asking people to do, especially at that remuneration,” the MAB president told Tribune Business. Dr Pierre added that there were “certain bureaucratic things they [the Government] need to get out the way”, citing previous difficulties with Tax Compliance Certificates (TCCs) that had taken him up to four months to obtain. This issue was subsequently resolved. Meanwhile, Dr Duane Sands, the FNM’s candidate for Elizabeth, again argued that political imper-

BISX-listed fund: 10% pt rental rise is ‘dividend trick’ From pg B1

percentage points. It’s more like 10 per cent growth in overall rentals will be the trick. “If we end up with a 75 percent average in overall occupancies, that will be a great level to be at. At that average we’ll start to pay, but we’re not there yet. We live in hope.” The Bahamas Property Fund’s net income for the first nine months of 2016

was down 8.8 per cent year-over-year, standing at $794,192 compared to $871,286 the year before. Expenses were down by 5.6 per cent or more than $100,000, having fallen from $1.894 million to $1.787 million, largely due to the disappearance of preference share dividends when these were replaced with cheaper bank debt. However, the Bahamas Property Fund’s revenues

ative was likely to smother practical reality when it came to NHI, and whether it was ready to be rolled out. “I think the narrative with this is damn the torpedoes, we’re going to push on,” Dr Sands told Tribune Business. “This is a hugely ambitious project, yet it is a critical part of the re-election strategy of this administration. “So whether it’s ready, whether it’s good, no matter, we’re putting it out there. We’re going to start it and fix it later. They’re going to want a couple hundred thousand Bahamians to touch NHI, so they can say: ‘We promised this, and have delivered this’.” Dr Sands then reeled off a litany of NHI ‘unknowns’, including the fact that private physicians have to-date not signed up to provide services under NHI. He pointed out that benefits packages have yet to be finalised; no decision had been communicated on

whether the scheme will use branded or generic drugs; and training persons to deliver NHI had yet to occur. Doctors, Dr Sands added, had also not been informed how they would bill for their services, to whom the bill would be sent, and the codes to be used. “I think they are rapidly running out of time to do this thing even remotely realistically,” he told Tribune Business of the Government, “yet I have no doubt they are going to roll this thing out. They’re going to go with what they have.” Tribune Business on Monday revealed the findings of the National Health Systems Strengthening Committee, which in September 2014 detailed numerous issues that “must be addressed” prior to implementing universal health coverage (UHC) and NHI in the Bahamas. Its report called for Bahamian healthcare’s governance structure to be

fell by more than $200,000 year-over-year to $2.601 million, due to fewer tenants producing smaller income streams. “It’s still struggling along,” Mr Anderson told Tribune Business of the BISX-listed fund. “We seem to gain tenants and then lose tenants. We have interest, but it’s hard to get them. “We nearly had one for a significant amount of square footage. We had one signed and then they cancelled the lease, because they couldn’t figure out how to use all the space.

Both the Bahamas Financial Centre and One Marina Drive are targeted at niche segment of the commercial property market, the former concentrating on financial services businesses requiring highend locations with built-in redundancy, and the latter the only office block on Paradise Island. “There are not many clients in either niche. We’ve just got to find the right one,” Mr Anderson told Tribune Business. “It’s still slow in terms of commercial space; there are not many new companies coming in or needing the space.” He suggested that average commercial property occupancy rates were in the mid-70 to low-80 per cents in Nassau, with the Bahamas Financial Centre, in

completely reformed, and overseen by a Bahamas Public Health Authority, through which the Ministry of Health will be responsible for standards, policies and regulation. Underneath it will be the Public Health Authority, an amalgamation of the PHA and the Department of Public Health. And, finally, there will be four regional health authorities, each responsible for the northern, central, southeastern and southern Bahamas, respectively. The Committee called for the Ministry of Health to be strengthened, noting: “While the Ministry of Health has oversight of various councils and boards, its current organisational structure and human resources (HR) capacity are inadequate to effectively execute the [NHI] steering role functions. The committee recommends building human resources capacities as well as a revision of

Michael Anderson

particular, now having to compete with the tendency of financial services firms to seek out homes in western New Providence. “Town is not the same as it used to be,” Mr Anderson added, “as companies expand and move on. A lot

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division

THE TRIBUNE Ministry of Health’s organisational structure. “The committee has concluded that although legislative reform will be necessary, it would be best to adopt administrative mechanisms that improve the functioning of the Ministry of Health in the initial stages. Such an approach would ensure that legislative changes are driven by pragmatism and lessons learned from experience on the ground. “These changes will diminish the fragmentation of government health services, provide greater autonomy and allow for seamless movement of clients across the care continuum (where the continuum of care is a concept that involves an integrated system of care that guides and follows an individual over time through a comprehensive range of health services across all levels and intensity of care).”

of them have gone out west and built.” Despite the current under-performing occupancy rates, the RoyalFidelity president said the BISXlisted Fund could seek consolation elsewhere, the preference share refinancing having saved more than $100,000 per annum. “It’s a well-positioned little fund in terms of acquisitions, and has got enough capital,” Mr Anderson told Tribune Business. “The market has been tough the last couple of years, and hopefully something will come along soon. “It’s an attractive share price. While we’re not paying a dividend, there’s a lot of value potential if we can just get occupancies increased.” 2016/CLE/gen/00998

IN THE MATTER OF Property comprised in a Mortgage dated the 19th day of August A.D., 2003 between Demetrius Turnquest and Gale Turnquest to FirstCaribbean International Bank (Bahamas) Limited recorded in Book 8770 at pages 367 to 383 at the Registry of Records in the City of Nassau in the Island of New Providence. AND IN THE MATTER of a Mortgage Action pursuant to Order 77 of the Rules of the Supreme Court 1978. BETWEEN

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED AND DEMETRIUS DESMOND TURNQUEST AND GALE LOUISE TURNQUEST

NOTICE

Plaintiff First Defendant Second Defendant

TAKE NOTICE that it was ordered on the 25th day of November, 2016 by The Honorable Mrs. Justice Guillamena Archer-Minns of the Supreme Court that the service of the NOTICE OF ADJOURNED HEARING OF THE NOTICE OF APPOINTMENT; scheduled for Tuesday, the 17th day of January, A.D. 2017 at 9:30 a.m. in the morning before The Honorable Mr. Justice Guillamena Archer-Minns at the Supreme Court in Chambers situate in the Ansbacher Building, East Street North, Nassau, New Providence, The Bahamas in the said action be effected on you by way of this advertisement. PLEASE TAKE FURTHER NOTICE that the said NOTICE OF ADJOURNED HEARING filed herein on the 6th day of January, A.D., 2017 can be collected from the Chambers of the Plaintiff ’s Counsel as set out below. AND FURTHER TAKE NOTICE that you must within fourteen (14) days from the publication of this advertisement, inclusive of the day of such publication, acknowledge service of the said NOTICE OF ADJOURNED HEARING by completing a prescribed form of Acknowledgement of Service which may be obtained on request from the Plaintiff ’s Attorneys whose name and address appear below, otherwise Judgment may be entered against you without further notice. DATED this 6th day of January, A.D., 2017 HALSBURY CHAMBERS SUITE# 548, VILLAGE ROAD NORTH HALSBURY COMMERCIAL CENTRE NASSAU, THE BAHAMAS ATTORNEY’S FOR THE PLAINTIFF

PROFESSIONAL ARCHITECTS BOARD 141A Nassau Street PHONE NO. (242) 326-3114 Email: bdmanager@coralwave.com

Professional Architects Examination Schedule 2017 Registration 6th February, 2017 – 17th March, 2017 Examination Briefing 11th April, 2017 Practical Training Log With Sysopsis Due Date: 14th April, 2017 Case Study Due Date: 19th May, 2017 Written Examination 9th June, 2017 Oral Examination 23rd June, 2017

THE TRIBUNE

Tuesday, January 17, 2017, PAGE 5

Sandals wins award for ninth consecutive year UK travel agents chose Sandals as the ‘Best AllInclusive Resort Operator’ for the ninth year running at the Travel Weekly Globe Travel Awards. The announcement was made on January 12, 2017, at a dinner held at the Grosvenor House Hotel on Park Lane in London, hosted by actor and comedian, David Walliams, and Travel

Weekly editor-in-chief, Lucy Huxley. “Winning such a prestigious award for the ninth year running is a great honour and we are extremely grateful to all of the agents who voted for Sandals resorts,” said Karl Thompson, managing director for Sandals UK & Europe. “This award and recog-

Waste plant ‘makes no economic sense’ From pg B1 stop after they were unable to expand from ‘pilot project’ size and funds dried up. The WRDG group also questioned why Stellar’s project, which was initially given a $650 million price tag, was “so expensive” when compared to larger waste-to-energy plants that had come “nowhere near” such capital investment costs. Warning that Bahamians could be “left holding the bag” if Stellar’s project was given the go-ahead, only to fail, WRDG said daily waste streams added to the landfill would provide only one-third of the material needed to hit projected energy production targets. Also expressing concern about a potential five to sixfold increase in tipping fees and other charges should Stellar gain approval, the WRDG group said a wasteto-energy facility of the nature it was proposing existed nowhere else in the world. Stellar, which was embroiled in the infamous Letter of Intent (LOI) controversy that ultimately resulted in the resignation of then-parliamentary secretary, Renward Wells, refuted all WRDG’s assertions in an interview with Tribune Business yesterday (see

other article on Page 1B). This, though, is unlikely to alter the WRDG group’s scepticism about its plans to produce 75 Mega Watts (MW) of power per day from the New Providence landfill, which would then be sold to the Bahamas Power & Light (BPL) grid via a power purchase agreement (PPA). “We know from our extensive research into plasma gasification (PG) that currently it is still an untested technology for processing household garbage,” WRDG said. “And the scale of the proposed [Stellar] facility makes no economic sense for a small landfill such as ours. “Where in the world is the successfully operating facility that is producing the 75 MW of electricity from 1500 tonnes per day of ordinary household garbage, using the same technology you are proposing to use here in the Bahamas? A facility we can visit and inspect, to be assured of its reliability, its non-polluting emissions. We do not want to be a testing ground for an unproven technology, and definitely not on that scale or at that price.” The WRDG statement was likely sparked by Stellar’s press release last week, in which the company indicated its continuing interest in taking over management

Karl Thompson, managing director for Sandals Resorts in the UK and Europe, accepts the award for Best AllInclusive Resort Operator from Joel BrandonBravo, managing director at Travelzoo, award sponsors; Lucy Huxley, editor-inchief; and David Walliams, host of the Globe Travel Awards. (Photo by Steve Dunlop)

nition from travel agents speaks volumes, and we are grateful for the continued support for our ever evolving Luxury Included holiday experience.” The Travel Weekly Globe Travel Awards are voted for by UK travel agents, making it one of the most wellrespected accolades within the industry.

of the New Providence landfill and deploying its waste-to-energy solution. Tribune Business previously revealed that WRDG has submitted such a proposal of its own, offering an “integrated waste management” solution to the Tonique Williams Highwaybased facility’s ongoing issues. Stellar and WRDG thus appear to be rivals for the same potential business, with both seeking to fill the gap left when the previous manager, Renew Bahamas, withdrew its services in the wake of Hurricane Matthew. The New Providence landfill is currently back under Department of Environmental Health Services (DEHS) care, and the ‘vacuum’ and uncertainty created by the absence of any plan for the facility has also helped create the ground for WRDG and Stellar’s ‘head-to-head’. Given the environmental and health hazard posed by the landfill, and the increased risk of fires as the Bahamas goes into the ‘dry season’, most New Providence residents - especially those in nearby communities - will be hoping for a rapid solution. Stellar yesterday said it was looking at other technologies besides plasma gasification, which the WRDG group said is currently used to destroy hazardous and “hard to dispose of” waste, such as radioactive and pharmaceutical

materials. “The tipping fees are usually very high, and the facilities rarely put electricity on to the grid because the electricity they do produce is needed by the technology itself,” WRDG said of plasma gasification. It added that the only time the technology was successfully employed was when three plants were developed in Japan in the late 1990s and early 2000s. The largest, which processed 200 tonnes per day, was closed in 2013, and WRDG said none “put any appreciable amounts of electricity on to the grid”. The Bahamian group conceded that several Canadian and UK firms had subsequently marketed their own plasma gasification plants for waste-to-energy, but none had met with success. As a result, it urged the Bahamas to “hesitate before considering a technology and company yet to prove themselves”. “As of this date, all these ventures have stopped due to an inability to raise the funds to implement, often because the technologies had not scaled up from the pilot project size,” WRDG said. “Though many of these technologies will eventually become commercially viable, they now have to conduct more research and development in order to scale up successfully. “And here we come to the first very important question that Stellar needs to

answer, and that is the price of their facility. With all these functioning and failed plants, some as big - and others bigger - than the one proposed by Stellar Energy, none came in anywhere near the $650 million price tag Stellar has proposed for the New Providence facility. Why is their facility so expensive?” WRDG argued that Bahamians may be “left holding the bag” should Stellar’s project proceed, only to fail at a later date. “They also said they needed 1,500 tons per day of combustible (paper, plastic, tyres, wood etc... stuff that can burn) waste in order to feed this facility,” WRDG said of Stellar. “We produce approximately 500 tonnes per day of combustible waste. That means they would have to mine 1,000 tonnes per day from the existing landfill. “Mining a landfill is a fairly new activity which comes with its own dangers and problems,” the WRDG group added. “Danger from the fires that will flare up once oxygen is introduced to already smouldering waste, danger from the threat of collapse when heavy machinery starts excavation in a badly compacted landfill filled with organic waste and problems, like the possibly prohibitive cost of sorting the old waste and the possibility that quite a lot of the combustible waste has already been consumed by old fires. “Though we have lots

of waste there are many unknowns, and if we have to guarantee Stellar 1,500 tonnes of garbage per day and are not able to produce it, we would have to pay them a shortfall fee per ton and that could end up being a big bill. “The reality is the tipping fee would not be $10 per tonne any more; it would increase possibly to $60$100 per tonne. So though we would gain some electricity on to the grid, and that should reduce our cost of electricity, we would be paying a lot more for garbage disposal than we do now, so what we gain on the swings we lose on the roundabouts.” The WRDG group emphasised it was not against waste-to-energy, as it had proposed this to the Government “three times before” as part of a holistic New Providence landfill solution. “We need to... know that for us, any waste-to-energy technology we consider for implementation here in the Bahamas needs to be able to substantiate its claims with examples of proven, reliable facilities, functioning on the same scale, utilising the same garbage for feedstock as we have here in the Bahamas,” WRDG said. “That’s what WRDG did when we presented wasteto-energy as an option for waste management, and what we can present again if the Bahamian people want us to.”

PAGE 6, Tuesday, January 17, 2017

Stellar: Waste plant cost cut by one-third From pg B1 takeover management of the New Providence landfill (see accompanying article on Page 1B). The WRDG group, in a lengthy statement sent to Tribune Business yesterday, challenged Stellar’s initial $650 million price tag on the grounds that larger waste-to-energy facilities were “nowhere near” as expensive as its proposal. They also argued that the plasma gasification (PG) technology that Stellar wants to employ at the landfill is unproven, as it has yet to move past the ‘pilot project’ stage and shown to be “commercially viable”. Mr Michielsen, though, said WRDG’s statement was partially based on information that was no longer accurate, as UK-based APP (Advanced Plasma Power) was no longer among its technology partners on the proposed Bahamas project. Pointing to Stellar’s involvement on bids and projects to construct waste-toenergy plants in locations such as China and Africa, he defended plasma gasifi-

cation as a technology that was “scalable” and proven. Mr Michielsen said that with waste-to-energy technologies evolving rapidly worldwide, plasma gasification was not the only option open to Stellar, pointing to “gasification and torrefaction/Pyrolysis”. “I always like it when you hear from Monday morning quarterbacks,” he told Tribune Business of the WRDG group, whose members include BISX-listed Bahamas Waste, Wastenot and United Sanitation. “These people don’t sit on my payroll. “When we first started budgeting the plant threeand-a-half years ago, we went with assumptions we got from the then-technical providers.” Mr Michielsen thus explained that the initial $650 million capital investment cost was not based on any detailed scientific or engineering studies. While it has conducted some research, more detailed investigation was part of the now-infamous Letter of Intent (LOI) signed with the Government.

1,000 resumes on first recruitment day for Baha Mar From pg B1 their resumes online,” said Mr Sands. Baha Mar has attracted more interest than the 1,500 posts it is seeking to fill in the first phase of recuitment, a development that

will come as little surprise to many given that the national unemployment rate remains at 11.6 per cent. “I can tell you that the phones have been ringing all day,” Mr Sands told Tribune Business. “Persons who did not quite under-

“We did one, and are still waiting on two and three,” he said of the engineering studies. “The technology has grown and become more popular; it’s out there and waste-to-energy is happening throughout the world.... “The number for the Bahamian plant is now around $400 million, which has come down dramatically from what it was before. “As it moves along, the numbers are based more on factual information, engineering information, at our disposal. The numbers have come down significantly since we first started.” Mr Michielsen said the supplier market for wasteto-energy technology had also expanded over the past three-and-a-half years, enabling Stellar to “shop around” and obtain more competitive prices on the various plant components. “As it stands now, we’re looking at a $400 million plant to generate 105 Mega Watts [of electricity] gross,” he added. “We will use 30 Mega Watts (MW) internally to run the plant, and sell 75 MW net at a kilowatt per hour (KWh) price to the electricity provider.” WRDG had argued it was “slightly disturbing”

that APP, which Stellar had named as one of its technology partners, had only started construction on a ‘pilot project’ for plasma gasification in the UK in 2016. It suggested this showed Stellar’s chosen technology was not “commercially viable”, and questioned how it could be used in a plant of the scale planned for the New Providence landfill. Mr Michielsen, while revealing that APP is no longer involved, pointed to Stellar’s involvement with two potential waste-to-energy projects in China, and others in Africa, as evidence that both itself and the technology were genuine. “The technology works,it is scalable and APP is not the technology partner we are working with,” he told Tribune Business. “We have technology partners, the plasma gasification system as well as the technology has grown tremendously and become more robust, and it does work. “A number of tier one jurisdictions like China, South Africa, and including the UK; why are they looking at it, investing in it, if it doesn’t work? “I don’t know where they’re [WRDG] coming from. The budget has

come down, the technology is more widely used, and we’re not just looking at plasma gasification because waste-to-energy is growing so quickly,” Mr Michielsen continued. “Do they think we’re going around the world investing all this money in technology that does not work? We’re not selling a bag of potatoes here. We’re selling high quality plants that work.” He added that Stellar was requiring its technology providers to give it guarantees, thus ensuring it would be compensated for any technical failures that prevented it from delivering. Mr Michielsen agreed with WRDG’s figure that Stellar’s proposed plant would need to burn 1,500 tonnes of waste per day to generate the promised 75 MW of electricity. However, he disputed WRDG’s assertion that just 500 tonnes of waste was fed into the landfill on a daily basis, arguing: “It is more than that. I know that for a fact.” The WRDG group argued that to make up the ‘waste shortfall’, Stellar would have to ‘mine’ 1,000 tonnes daily from what is already in the landfill, creating new issues of potential

fires and cell collapses. Mr Michielsen, having suggested that WRDG’s figures were flawed, dismissed these risks, saying: “Landfill fires are irrelevant. Methane will be siphoned off and capped before we mine, which should have been done years ago but no one ever did.” He also refuted WRDG’s assertion that under Stellar’s management, tipping fees at the landfill would increase five to six-fold, growing from the current $10 per tonne to $50-$60 per tonne. “Tipping fees will go down,” Mr Michielsen told Tribune Business. “This is done completely through private financing, and it has nothing to do with the Bahamas paying for it. “Our mix of garbage that will be mined for fuel will come from what is tipped in during the day, as well as what is mined and sitting there, rotting away. We have taken that into account.” Mr Michielsen offered to give WRDG and its members “insight” into Stellar’s business and plans, adding: “If they want to know the technology being used, I’m more than happy to share it. They know where my office is. They can come again.”

stand how to get online for the process. “We’re very encouraged by it, but not surprised by the volume. I think the opportunities that are being made available basically fulfill a promise that was made, they are becoming reality and people are taking advantage of them.” Baha Mar is looking to initially fill positions at the golf course, the casino and casino hotel ahead of its scheduled April 21 partial

opening. However, as many as 5,000 jobs are expected to be created once the resort is fully opened. “We’re working to satisfy over 1,500 positions for when we have the soft opening in April. When the resort is fully opening we’re looking at 5,000 jobs,” said Mr Sands. Prime Minister Perry Christie, in addressing the Bahamas Hotel and Tourism Association (BHTA) recently, said 1,800 rooms

at the casino and conference hotels would open during the 2017 second quarter. The resort’s new owner, Chow Tai Fook Enterprises (CTFE), has said it is dedicated to the success and timely opening of Baha Mar, and is “very optimistic” that the April 21 opening date will be hit. The Hong Kong-based conglomerate revealed itself as the Baha Mar purchaser last November. China Construction America (CCA) has been retained as general contractor, charged with oversee-

ing the completion, despite accusations from Baha Mar’s original developer, Sarkis Izmirlian, that the Chinese state-owned firm should shoulder most of the blame for the project’s previous demise. The company had missed two completion deadlines, in December 2014 and March 2015, and its failure to complete on-time and on budget ultimately led to Baha Mar’s Chapter 11 bankruptcy protection filing and a legal battle, which has stalled the project’s completion.

NOTICE

EXXONMOBIL EXPLORATION AND PRODUCTION TANZANIA (KUNGUMANGA) LIMITED ____________________________________________

EXXONMOBIL EXPLORATION VIETNAM LIMITED ____________________________________________

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 14th day of February, A.D., 2017. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 16th day of January, A.D., 2017.

R.W. Rice Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

N O T I C E

EXXONMOBIL EXPLORATION AND PRODUCTION TANZANIA(KUNGUMANGA) LIMITED ________________________________________________

EXXONMOBIL EXPLORATION VIETNAM LIMITED _____________________________________

N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION AND PRODUCTION TANZANIA (KUNGUMANGA) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 12th day of January 2017 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is R.W. Rice, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 16th day of January, 2017 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

THE TRIBUNE

N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION VIETNAM) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 12th day of January 2017 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is R.W. Rice, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 16th day of January, 2017 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

VATRY CONSULTING LTD. Company No. 225818 (in voluntary liquidation)

LITCHFIELD CONSULTING INC. Company No. 1053740 (in voluntary liquidation)

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that VATRY CONSULTING LTD. is in voluntary liquidation. The voluntary liquidation commenced on the 9th January, 2017 and DR. WOLFGANG RABANSER at Landstrasse 33, 9490 Vaduz, Principality of Liechtenstein has been appointed as Sole Liquidator.

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that LITCHFIELD CONSULTING INC. is in voluntary liquidation. The voluntary liquidation commenced on the 5th January, 2017 and DR. PETER MARXER JUN. at Kirchstrasse 1, Postfach 777, 9490 Vaduz, Principality of Liechtenstein has been appointed as Sole Liquidator.

Dated this 9th day of January 2017 Dr. Wolfgang Rabanser Voluntary Liquidator

Dated this 13th day of January 2017 Dr. Peter Marxer Jun. Voluntary Liquidator

BAHA MAR construction project

STICKER INTERNATIONAL INC. Company No. 403046 (in voluntary liquidation) NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that STICKER INTERNATIONAL INC. is in voluntary liquidation. The voluntary liquidation commenced on the 5th day of January, 2017 and DÉSIRÉE KÄGI at Utoquai 37, 8008 Zurich, Switzerland has been appointed as Sole Liquidator. Dated this 13th day of January 2017 Désirée Kägi Voluntary Liquidator NOTICE INTERNATIONAL BUSINESS COMPANIES ACT (No. 46 of 2000) AMBROSIA INVESTMENT HOLDINGS LIMITED IBC No. 175388 B (In Voluntary Liquidation) NOTICE is hereby given that as follows: (a) That AMBROSIA INVESTMENT HOLDINGS LIMITED is in Dissolution under the provisions of The International Business Companies Act 2000. (b) The Dissolution of the said Company commenced on the 9th day of January, 2017 when the Articles of Dissolution were submitted and registered by the Registrar General. (c) The Liquidator of the Company is Sterling (Bahamas) Limited of 2nd Floor, Saffrey Square, Bank Lane and Bay Street, Nassau, Bahamas. (d) Any person having a Claim against the above name Company are required on or before the 8th day of February, 2017 to send their name, address and particulars of the debt or claim to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is approved. Sterling (Bahamas) Limited Liquidator

THE TRIBUNE

Tuesday, January 17, 2017, PAGE 7

As robots take jobs, Europeans mull free money for all

PARIS (AP) — I am, therefore I’m paid. The radical notion that governments should hand out free money to everyone — rich and poor, those who work and those who don’t — is slowly but surely gaining ground in Europe. Yes, you read that right: a guaranteed monthly living allowance, no strings attached. In France, two of the seven candidates vying to represent the ruling Socialist Party in this year’s presidential election are promising modest but regular stipends to all French adults. A limited test is already underway in Finland, with other experiments planned elsewhere, including in the United States. Called “universal income” by some, “universal basic income” or just “basic income” by others, the idea has been floated in various guises since at least the mid-19th century. After decades on the fringes of intellectual debate, it became more mainstream in 2016, with Switzerland holding a referendum — and overwhelmingly rejecting — a proposed basic income of around $2,500 per month. “An incredible year,” says Philippe Van Parijs, a founder of the Basic Income Earth Network that lobbies for such payments. “There has been more written and said on basic income than in the whole history of mankind.” But before you write a resignation letter to your boss in anticipation of never needing to work again, be warned: there are multiple questions, including how to finance such schemes. Here is a look at the issues:

In a word, robots. With automated systems and machines increasingly replacing human workers, France could lose 3 million jobs by 2025, says Benoit Hamon, a former education minister campaigning for the French presidency on a promise of gradually introducing nostrings-attached payments for all. As work becomes scarcer, a modest but regular guaranteed income would stop people from fearing the future and free up their time for family, the needy and themselves, he argues. It could also encourage people to take risks, start businesses and try new activities without the risk of losing welfare benefits. The other pro-basic income candidate for the Socialist Party presidential ticket is outsider Jean-Luc Bennahmias. Like Hamon, the former European Parliament lawmaker argues that it is pointless to expect the return of economic boom times, with jobs for all. “Growth at two, three, four or five percent in western countries: it’s finished,” he said in a televised debate last week. “We have to speak the truth.” Outside research backs up their arguments. An Oxford University study in 2015 estimated nearly half of the American workforce is at risk of automation.

a guaranteed 560 euros ($600) a month, will the 2,000 human guinea pigs — drawn randomly from Finland’s unemployed — just laze around? Budget constraints and opposition from multiple quarters stymied ambitions for a broader test, says Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits. “It’s a pretty watered down version,” he said in a telephone interview. “We had to make a huge number of compromises.” Still, he argues that such studies are essential in helping societies prepare for changed labor markets of the future. “I’m not saying that basic income is the solution,” he said. “I’m just saying that it’s a solution that we have to think about.” In the Netherlands, the city of Utrecht this year plans to trial no-strings welfare payments that will also allow test groups to work on the side if they choose — again, in part, to study the effect on their motivation to find work. To prepare for “a world where technology replaces existing jobs and basic income becomes necessary,” Silicon Valley startup financier Y Combinator says it plans a pilot study in Oakland, California, paying recipients an unconditional income because “we want to see how people experience that freedom.”

PUT TO THE TEST

THE COST

Finland’s small-scale, two-year trial that started Jan. 1 aims to answer a frequent question from basic income opponents: With

Obviously, expensive. Hamon proposes the gradual introduction of basic income schemes in France, starting with 600

WHY THE MOUNTING INTEREST?

French politicians, from left to right, Arnaud Montebourg, Jean-Luc Bennahmias, Francois de Rugy, Benoit Hamon, Vincent Peillon, Manuel Valls and Sylvia Pinel, attend the first prime-time televised debate for the French left’s presidential primaries in La Plaine Saint-Denis, near Paris, France, Thursday Jan.12, 2017. (AP Photo)

euros ($640) per month for the nation’s poor and 18-25-year-olds before scaling up payments to 750 euros ($800) for all adults — for a total estimated annual cost of 400 billion euros ($425 billion). Part of the cost could be financed by taxing goods and services produced by automated systems and machines, he says. Opponents argue that doing so would simply prompt companies to move robots elsewhere, out of reach of French tax collectors. Doing away with housing, family, poverty and unemployment benefits could

free up more than 100 billion euros ($106 billion) to fold into a replacement basic income scheme. There’d also be less red tape, saving money that way, too, but switching to basic income would still require new taxes, a 2016 Senate report said. It estimated that paying everyone 500 to 1,000 euros ($530-$1,100) per month would cost 300 billion to 700 billion euros ($745 billion-$320 billion) annually. It recommended starting with three-year pilot schemes with trials involving 20,000-30,000 people.

THE CONS Costs aside, opponents argue that guaranteed incomes would promote laziness and devalue the concept of work. Hamon’s opponents for the Socialist presidential ticket dispute as false his argument that jobs for humans are growing scarcer. Ultimately, to see the light of day, basic income schemes will need political champions, said Van Parijs. “We need radical ideas as targets and then we need clever tinkering to move in that direction,” he said.

PAGE 8, Tuesday, January 17, 2017

THE TRIBUNE

Bank of England Governor: Bank will protect economic growth

LONDON (AP) — The Bank of England remains ready to protect economic growth in the face of pressures caused by Britain’s departure from the European Union, the central bank’s top executive said Monday as investors waited for the

country’s prime minister to lay out her vision for Brexit. The bank’s Monetary Policy Committee has the discretion to balance its legally mandated goal of controlling inflation against the need for economic stability, Governor Mark Carney

said in a speech at the London School of Economics. “In exceptional circumstances, trade-offs between real stability and inflation can arise that monetary policy is required to balance,” Carney said. “This is now the case, given the decision of the people of the United Kingdom to leave the EU.” His remarks, delivered as British Prime Minister Theresa May prepares to deliver her own speech Tuesday setting out her Brexit blueprint, suggest the bank is ready to act to stave off economic uncertainty.

Under pressure to reveal her plans for negotiating with the EU, May is expected to call for a “truly global Britain” that is more open to the world. But reports in major newspapers over the weekend indicated that May plans a clean break with the 28-nation bloc, which sent the pound tumbling Monday on concern about how the withdrawal would affect trade, investment and economic growth. The pound has lost almost a fifth of its value against the dollar since British voters in July ap-

proved a referendum to leave the EU. Despite concerns about inflation, the Bank of England in August reduced its benchmark interest rate by 0.25 percent and increased asset purchases to ease concerns about the vote. The bank’s actions helped prevent a slowdown in the economy that would have cost about 250,000 jobs, Carney said Monday. “There remains an element of discretion in how the (Monetary Policy Committee) delivers its inflation objective,” he said. “That is

because the people of the U.K. also have reason to value stable growth, jobs and incomes.” With the government preparing to open formal exit talks with the EU by the end of March, the bank is prepared to respond. “Whatever transpires, the MPC will manage monetary policy to achieve the inflation target in a sustainable manner consistent with the preferences and instructions of the people of the United Kingdom,” Carney said.

IMF boosts growth forecast for US, cites Trump impact WASHINGTON (AP) — The International Monetary Fund on Monday raised its forecast for the U.S. economy over the next two years, saying Presidentelect Donald Trump’s policies should boost economic growth, particularly in 2018. But officials warned that if Trump’s protectionist trade proposals set off a trade war, that could be “quite destructive” for the global economy. The IMF also increased 2017 growth projections for a number of other countries including China, Germany, Japan and Britain, but warned that the global economy faced a number of downside risks from rising protectionism to a jump in interest rates. The 189-nation global lending agency’s latest economic outlook took note of the significant impact Trump’s election has already had in giving a boost to U.S. stock prices, interest rates and the dollar. The new outlook puts U.S. economic growth at 2.3 percent this year and 2.5 percent in 2018. That would be an improvement from lackluster U.S. growth around 1.6 percent in 2016. During the campaign, Trump said his economic policies of tax cuts, regulatory reform and boosts in infrastructure spending would lift U.S. growth to

International Monetary Fund Economic Counsellor Maurice Obstfeld speaks at a news conference during the World Bank/ IMF Annual Meetings, at IMF headquarters in Washington. The IMF announced yesterday, it is raising its forecast for the U.S. economy in 2017 and in 2018, reflecting an expected boost from the economic policies of President-elect Donald Trump. “The global economic landscape started to shift in the second half of 2016,” Obstfeld said, helped by a rebound in manufacturing activity in many countries and the financial market rally that started with Trump’s November election victory. (AP Photo) annual rates of 4 percent. The new forecast represents a boost of 0.1 percentage point this year and an increase of 0.4 percentage point for 2018, when Trump’s stimulus plans would be expected to be phased in. That is a halfpoint higher growth than the IMF was forecasting in October, before Trump’s election. In contrast, the World Bank last week left its U.S. forecast unchanged at 2.2 percent growth in 2017 and 2.1 percent for 2018, arguing that there was too much uncertainty over the fate of

MARKET REPORT MONDAY, 16 JANUARY 2017

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

BISX ALL SHARE INDEX: CLOSE 1,922.09 | CHG -0.43 | %CHG -0.02 | YTD -16.12 | YTD% -0.83 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.55 4.70 0.12 8.22 8.50 6.10 10.60 15.48 2.72 1.60 5.82 9.31 11.00 9.00 6.90 12.25 11.00

52WK LOW 2.70 17.43 8.19 3.50 1.77 0.12 5.50 8.05 5.50 7.72 11.91 2.18 1.31 5.60 6.70 8.56 6.12 6.35 11.81 10.00

1000.00 1000.00 1000.00 1000.00

900.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01

1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01

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

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

52WK LOW 100.00 100.00 100.00

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

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

SYMBOL FBB17 FBB18 FBB22

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

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

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

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

MUTUAL FUNDS 52WK HI 2.02 3.91 1.93 169.70 140.34 1.46 1.67 1.56 1.10 6.96 8.50 6.30 9.94 11.21 10.46

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.41 1.61 1.52 1.03 6.41 7.62 5.66 8.65 10.54 9.57

LAST CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.60 8.50 5.83 10.50 11.93 2.10 1.60 5.82 9.31 10.95 8.74 6.75 11.93 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 108.30 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.60 8.50 5.83 10.49 11.93 2.10 1.60 5.82 9.31 10.95 8.74 6.75 11.93 10.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

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

CLOSE 100.00 100.00 100.00

CHANGE 0.00 0.00 0.00

108.46 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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

VOLUME

800

2,000

VOLUME

NAV 2.02 3.91 1.93 169.70 140.34 1.46 1.66 1.56 1.07 6.96 8.50 6.30 9.80 11.13 9.63

EPS$ 0.029 1.002 -0.144 0.170 -0.130 0.000 -0.030 0.607 0.430 0.450 0.110 0.102 0.080 0.300 0.520 0.960 0.820 0.294 0.610 0.000

DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.090 0.300 0.220 0.360 0.490 0.060 0.060 0.240 0.400 0.000 0.330 0.140 0.640 0.000

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

P/E 151.0 15.8 N/M 20.7 N/M N/M -186.7 14.0 13.6 23.3 108.5 20.6 20.0 19.4 17.9 11.4 10.7 23.0 19.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

INTEREST 7.00% 6.00% Prime + 1.75%

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

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

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

YTD% 12 MTH% 3.91% 4.21% 3.71% 3.98% 2.43% 2.71% 4.73% 5.64% 5.70% 7.66% 3.56% 3.91% 2.22% 2.79% 2.80% 3.18% 2.99% 2.26% 4.35% 4.69% 4.13% 4.28% 4.22% 4.64% 6.19% 3.43% 2.77% 2.98% -3.66% -3.90%

NAV Date 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Sep-2016 30-Sep-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016

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

YIELD 1.83% 6.31% 0.00% 5.97% 0.00% 0.00% 1.61% 3.53% 3.77% 3.43% 4.11% 2.86% 3.75% 4.12% 4.30% 0.00% 3.78% 2.07% 5.36% 0.00%

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

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

Trump’s proposals to incorporate them in a forecast. But IMF Chief Economist Maurice Obstfeld told reporters at a briefing Monday that he viewed the IMF’s upgrade for the United States as a moderate increase that took into account the U.S. election results. “We now have the presidency and the legislative branch in the same hands. It seems very clear to us that some of the promises will be delivered on,” Obstfeld said. “We know the direction of policies. We don’t know the specifics.”

He said that the IMF had chosen not to incorporate Trump’s threats of imposing higher tariffs on countries such as China and Mexico if their trade policies do not change because of a belief “that at the end of the day, countries will realize these are not in their best interests given the threat of retaliation. ... The outbreak of a trade war would be quite destructive.” For the overall global economy, the IMF left its projections unchanged growth of 3.4 percent for this year and 3.6 percent for 2018, both up from 3.1 percent growth in 2016, a year when global growth slowed to its weakest performance since the 2008-2009 financial crisis. But the IMF saw better prospects in a number of countries including Germany, Japan, Spain and Britain, thanks in part to a rebound in growth in many parts of the world in the second half of last year that provided momentum going into 2017. “The global economic landscape started to shift in the second half of 2016,” Obstfeld said, helped by a rebound in manufacturing activity in many countries and the financial market rally that started with Trump’s November election victory.

NOTICE

NOTICE is hereby given that JEFFREY OSCAR of Windsor Place, 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 17th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

THE TRIBUNE

Tuesday, January 17, 2017, PAGE 9

b o dy an d m in d

Deepak Chopra shares six pillars to well-being

Physician, noted author and public speaker Dr Deepak Chopra prescribed a few simple remedies this past weekend to reduce the amount of chronic illnesses that plague the Bahamas during Atlantic Medical Insurance’s wellness symposium, “A Morning with Deepak Chopra.” Hundreds turned out to attend the event at Atlantis, Paradise Island, on Saturday to hear from the highly regarded wellness guru, who spoke for an hour and a half on “The Future of Wellbeing.” Named by TIME magazine as one of the top 100 heroes and icons of the century and credited as the poet-prophet of alternative medicine, Dr Chopra believes the causes of almost all diseases are within one’s control. “Ninety-five per cent of health and disease prevention in our bodies is in our control based on proper eating, fitness and sleeping,” Dr Chopra said. “Only about five per cent of cancer causing gene mutations are inherited.”

World-renowned alternative medicine advocate speaks on illnesses affecting the Bahamas

He spoke about how your moods, emotions, thinking, sleep/wake cycles and social interactions influence the activity of your genes and outlined six simple things for the audience that they can do right away to improve their physical wellbeing – sleep, movement, stress management, emotions (having love compassion and joy), proper nutrition and earthing (walking barefoot on the sand). Dr Chopra also led the audience in a mediation exercise. Atlantic Medical’s Executive Vice President and General Manager Lynda Gibson said she was personally surprised at the large turnout Dr Chopra attracted, and that it is an indication that Bahamians want to be educated on wellness, alternative medicine and taking care of their bodies. “Wellness is very important,” Mrs Gibson said.“We

tell employers all the time, educated employees who know about looking after themselves, they will see it in the claims experience – lower claims experience, lower rates. Everyone keeps talking about the cost of healthcare escalating. It’s mainly because there are so many people who wait until they get sick to learn about what’s going on with their bodies. We’re trying to reduce that by finding ways how we can educate our clients about taking care of their bodies in order to prevent themselves from getting serious illness and that’s what Dr Chopra was here to explain.” Atlantic Medical’s Wellness Coordinator Donovan Ingraham said the company has been placing heavy emphasis on wellness over the last three years. “Our wellness programme goes from quarter to quarter and there are

Bahamians turned out in the hundreds to hear Dr Deepak Chopra speak at Atlantis. incentives involved with it, as anyone insured with Atlantic Medical is eligible for our wellness program and the great part about it is that it’s continual. Most insurance companies have some makeshift wellness

programmes in place, but our programme is continual,” he said. The event with the New York Times best-selling author was free of charge to the public as part of the company’s community out-

reach. Many of the attendees left the symposium more aware of how they can have a healthy energetic body, a reflective and alert mind and a likeness of spirit. “I thought the experience was transformative,” said Royanne Dean. “Those few moments of meditation, I feel made a difference for me already. So I’m very happy that I came and I hope that we have more of these types of speakers to come here and for free.” Kim Miller is a huge fan of Dr Chopra, so much so that she flew from Freeport just to be in attendance for the event. “I had to come. There was no other place for me to be other than here with him to receive his message in person. He came at the right time, this is the start of the year. This is the time of the year that most people tend to revamp, reboot, and recharge. Thank you to Atlantic Medical for making this moment happen because I came here to invest in me.”

Improving your dental health in 2017 Almost everyone you talk to is seeking to improve their health these days. Bahamians are reading health articles, searching the internet, and best of all, seeing healthcare professionals – all in an effort to stay on top of things. Although one’s medical health is very important, equally as important is one’s dental health. For many, this fact is not easily appreciated at first. However, more people are realising the importance of dental health and its direct relationship to one’s overall health. The descriptive word “improvement” is a relative term. In health matters, it suggests a positive movement in the desired direction. In dentistry specifically, it suggests a movement from any mouth condition toward a more healthy disposition. • Improvement No 1 : Have professional dental cleaning For many, improvement is as

the teeth sparkling, and the gums healthy. • Improvement No 2 : Have dental caries eliminated

Dr Sparkman Ferguson Registrar of the Bahamas Dental Council simple as making a decision to see a dentist for a regular professional cleaning. To many, this seems like an unnecessary practice, but in truth, it is the most important of all dental visits. It is recommended that one has a professional cleaning every 6 months. This practice keeps the mouth fresh,

The term dental caries is still confusing for many. It simply refers to any part of a tooth that is rotting. This rotting is usually a silent process until a tooth breaks, or cold water chills it, or hot water hurts it, or food begins packing between teeth suggesting breakage. Any of these events suggests that the concern is at least two to three years old and needs immediate attention. The improvement takes place when persons seek professional visits to have carious teeth professionally restored. • Improvement No 3 : Have missing teeth replaced More and more, persons are discovering that it isn’t easy to chew properly without a full complement of teeth. If some of

your teeth are missing, having replacements would be a huge improvement. If all of your teeth are missing, it will indeed be an improvement to have dentures fitted to aid in eating, speech,and good looks. If you have ill fitting dentures, an improvement will be to have them relined to improve the fit, or have them replaced with new ones. • Improvement No 4: Accept dental imaging Imaging is everything. We improve our dental health by knowing through imaging the condition of our teeth, gums, and jaw bones. The advantage in imaging is that your dentist can use it as an aid for early detection of dental diseases. • Improvement No 5: Be consistent with dental home care Home care is a most important aspect of dental health since it is taking place at all times, and out-

side of the direct care of a health professional. The healthy habits remain the same. One must brush daily with a soft toothbrush and toothpaste. One must also use dental floss between the teeth daily. This is not optional. The use of mouth wash, gum stimulants,tongue scrapers and whitening strips are encouraged where necessary or desired. If you are a denture wearer, it is important to clean and sanitize your dentures daily to freshen them. If you wear braces, it is important to remove all food particles from the brackets, wires, or retainers several times a day. • Conclusion: It is obvious from the discussion above,that each person will have an individual approach in order to effect improvement in their personal dental health. It is certain that a brief self-evaluation could point the way to your particular dental improvement need.

Bahamian mother partners with global initiative to improve local healthcare By ALESHA CADET

Tribune Features Reporter

acadet@tribunemedia.net

The desire to seek more advanced care for her sick child has led one Bahamian mother to pursue improvement in all aspects of the local healthcare system. Bonnie Davis’ daughter, Hailey Davis, was just 12 years old when she was diagnosed with acute promyelocytic leukaemia (APML), a rare form of leukaemia. Hailey was actively involved in activities such as soccer, dance and horseback riding, and was otherwise healthy, so the diagnosis came as a shock to her family. In retrospect, Bonnie said she could see Hailey becoming increasingly fatigued, which prompted a visit to her doctor who ordered a blood test which showed that something was definitely wrong. Hailey was hospitalised immediately. “Hailey was seen by the paediatric oncologist in Nassau who felt it was aplastic anaemia but would need to perform a bone marrow biopsy to confirm,” she said. “At this point her father and I decided, along with our local doctor, that she needed more advanced care, given the potential seriousness of the diagnosis. We made immediate arrangements to transfer her to the Hospital for Sick Children in Toronto, Canada. Within an hour of arrival at SickKids she was diagnosed from a blood test with APML. What jumped

out at me is why there was not the capacity to accurately diagnose Hailey here in Nassau from her blood work.” This question of “why” prompted her involvement in the SickKids - Caribbean Initiative (SCI). Bonnie said she hopes to assist in improving all aspects of the Bahamian healthcare system involved when treating a child with cancer. SCI is widely known as a not-for-profit collaboration between the Centre for Global Child Health at the Hospital for Sick Children (SickKids) in Toronto and seven Caribbean institutions across six countries, such as the Bahamas, Barbados, Jamaica, St Lucia, St Vincent and the Grenadines and Trinidad and Tobago. The organisation strives to improve the diagnosis, outcomes and quality of life for children with cancer and blood disorders. Moreover, the initiative establishes partnerships between health care specialists at SickKids and their counterparts in the Caribbean, using training and education, including regular telemedicine case rounds, enhanced diagnostic services, and paediatric cancer registries to support the early identification and treatment. “I found it unacceptable that the outcomes for children in the Caribbean, the Bahamas included, were far below the outcomes in the United States and Canada. So being involved with SickKids and their amazing team proved to be

SickKids - Caribbean Initiative professionals

“Be assertive. It just may save your child’s life”

Hailey Davis overcame a rare form of leukaemia thanks to the special care she received at the Hospital for Sick Children in Toronto, Canada.

a perfect fit. Thus began a series of planning meetings and fundraising which was highly successful reaching the financial target within the first year of onset,” said Bonnie. “It’s very important to try and make a difference. In fact, I see it as our obligation to try and help others, pay it forward. I just could not turn my back on the stark difference in care between Bahamas and Canada,” said Bonnie. She is happy to share that Hailey is now a very healthy 21-year-old and remains in remission. She is exploring new ways to keep herself active such as run-

ning, kickboxing, studying marine life, travelling and exploring different cultures around the world. She continues to be involved with SickKids, helping any way she can. “Coming from firsthand experience, Hailey believes the Caribbean Initiative that SickKids is leading is an amazing way for Caribbean medical professionals to access world renowned doctors and high quality information so that they can give a fighting chance to those affected by blood cancers,” said Bonnie. “After being facilitated in both the hospital in Nassau and the hospital in Toronto, at the age of 12 she noticed a distinct difference. She believes no matter the level of medical professional – a nurse, a general doctor, pathologist, pharmacist or an oncologist – there is always more room for improvement for the betterment of the patient, and the Caribbean Initiative allows this to happen.” While Bonnie and Hailey share a success story, tragically there are many that have experienced a different outcome. “I would encourage parents if you see your child is fatigued, or for example not recovering from a common cold, then request further investigation. Don’t be afraid to ask questions and get answers. If you don’t feel you are getting the answers you want then see someone else. Be assertive. It just may save your child’s life,” said Bonnie.

PAGE 10, Tuesday, January 17, 2017

THE TRIBUNE

Overbreeding or breaking the cycle? Close ya legs! Stop layin down with man! As a society, we have been charging that blacks overbreed, but it would be a more accurate statement to say that low-income and poorly educated groups are more likely to have more children than higher-income groups with a higher level education. There are a number of threads that continually lead us back to this point: In a family, as dysfunctional or as functional as many families are today, once a cycle begins, it continues for decades and/or generations. For some reason that social workers should be aware of, when a mother has a child during adolescence the trend will probably be continued when this child is old enough to reproduce. So it goes. In families with multiple ‘males producing children’, not fathers, there is a potential, unless there is serious intervention, for that trend to continue. One way that trends are altered is through education. However, both boys and girls need to be educated. Further, with the failings of the education system in the country we must ask the question, if we know that more and better education reduces the incidences of teenage pregnancy and overbreeding, for example, would we not work to improve the system? Does this not also work against poverty?

Women’s ability to negotiate safe sex It is ironic that men often blame women for their breeding and never look at how this happens. When we study HIV and other STIs as well as teen pregnancy and some social conditions and attitudes that lead to these, we find that while 51 per cent of the population may be female, women are not often in a position to demand safe sex. Unsafe sex, as they say, causes breeding. Socio-culturally, young men see it as ‘masculine’ to have unsafe sex with ‘de gyal’...‘She is only de gyal!’ It matters little how long the relationship will last or even if pregnancy results. In fact, we as Bahamians usually base men’s

Dr Ian Bethell-Bennett masculinity on the number of ‘chirren dey gat an’ de number a gyals dey grinin’.’ These are simple facts. So we define cultural relations based on seriously flawed social dynamics. If a woman demands the use of a condom, the man claims that she does not trust him, love him, or that she is cheating on him and deserves to be slapped. In unequal relationships this kind of result is common. The young girl or young woman usually surrenders her body to this man because she ‘loves’ him or he holds more power than she does. The huge number of incestuous relationships in the country are also based on power inequities, where girls are ‘interfered’ with by older males in the family and they certainly cannot demand safe sex. We also choose to ignore and deny the issuance from these interactions. We know that many uncles, cousins, grandfathers, visiting partners ‘breeds dese gyals’ and yet we choose to blame the women! Power inequalities within relations and relationships are a serious problem and result in a great many rapes and sometimes murders. A man assumes control in a relationship because he earns more than a woman or is seen as having more currency, and so the woman, as stated above, cannot demand safe sex, or even when she wishes to have sex. According to some branches of the church, once a man marries a woman, she belongs to him; he owns her. Yet we blame her. The great paradox of this seems to be lost on many of those who claim to understand the workings of Bahamian society and culture.

Young Bahamian women often find themselves in a position where they feel they cannot demand safe sex.

“It seems odd that so many people are so quick to tell women that they need to stop opening their legs to men, stop making the country poor, with full knowledge that this is a systemic problem that has existed for centuries and results in part from serious, utterly entrenched and undermining inequalities and generational poverty.” The statistics speak loudly, if we choose to listen.

Structural and cultural violence We tell poor people that they are poor because they make themselves poor. They must work harder! If they want to be rich, even without the requisite education to be able to read and write and think, we say they can be rich. This is systemic and structural failure. We are ignoring what is really making people, especially women, poor in our society. Moreover, this goes beyond cash richness and into real wealth generation. How many people who are condemned for their breeding are in a position to generate real wealth? How many of them are stuck in a transactional relationship spiral? We are in an interesting position where, much as happens with rape, we are blaming the victim. Usually when women are raped the police and the courts blame them for their attack because they are meant to walk around in sack cloths that cover them from head to toe as men are not required to control themselves. Men can inflict horrible violence on women

and it be blamed on women – ‘She provoked him’. This kind of understanding promotes and justifies violence; it condones male-privileged behaviour, as much as slave masters were justified in raping their slave women because they owned those women. This kind of violence becomes cultural, where we assume that all black women are such and such a way and can be treated in such and such a way because they deserve it. Their exploitation is justifiable because they caused it. Further, the violence of government and those in power who declare such things and the blind policies implemented to ‘control’ promiscuity that is ironically socially validated, are more damaging to the society than no policies at all.

Historical implications In the 1930s, given serious social problems in the then-colonies, a commission was established to assess the situation and to make recommendations for how to improve the lives of the blacks in the Caribbean and to avoid further unrest. The report submitted by this commission became known as

The Moyne Report and it tackles the serious plaguing problems that spark unrest. The Commission stated that the demand for constitutional reform was “sufficiently widespread to make it doubtful whether any scheme of social reform, however wisely conceived or efficiently conducted, would be completely successful unless they are accompanied by the largest measure of constitutional development which is thought to be judicious in the circumstances.” Obviously, this has remained unaddressed. We claim that the people have spoken and that they choose not to have legal equality between men and women. Yet when on other occasions the people chose one way and government chose to ignore their expression and do the opposite, the need for reform almost over half a century later remains a key factor. Women are still treated as second-class citizens because they are legally second-class citizens. The report offers that there is a lack of family life. It reports bluntly: “This lack of family life has a bearing on every aspect of social conditions in the West Indies and its effects from a health standpoint are particularly serious...The effect of existing conditions on the welfare and wellbeing of children is particularly marked.” Given this historical reality it is odd that members of the ‘high public’ would see it so important to highlight a point that has remained unaddressed and of enormous historical importance to the entire Caribbean, of which the Bahamas is a part, for over a century. These speakers also see it as essential to lay blame at the feet of the very women who are the victims of a highly unequal and historically-imposed, racially and sexually-biased system. It seems odd that so many people are so quick to tell women that they need to stop opening their legs to men, stop making the country poor, with full knowledge that this is a systemic problem that has existed for centuries and results in part from serious, utterly entrenched and undermining inequalities and generational poverty.

Positive thinking The beginning of every year is a good time to put new things into place; to start something with no excuses that will make a positive difference in your life. Many people call these new goals, resolutions. I don’t typically choose to refer to my yearly goals as resolutions, but that’s just me. I have more of a working list of things I want to accomplish that will improve my overall quality or life, like eating more whole foods, or even more simply, things I want to do that I haven’t done yet, like learning French. I try not to set myself unattainable goals, although it’s always good to set the bar high. Ever heard that saying, change your mindset and you can change your life? Sounds simple enough; it’s not exactly that simple, but it’s a start. Yes, it’s very true that having

Bun In The Oven

Bianca Carter the right type of mindset, a positive one, is essential to having a great life.

The right attitude is a very small, self discipline change that makes a huge difference in the way we look and react to the world. But as we all know, we live in the real world and things come at us sometimes unexpectedly and unfairly, and it’s very easy to break good habits and fall into the trap of thinking negatively. Don’t beat yourself up when that happens. Just get back on the bandwagon when you fall off; it’s never all of nothing, and tomorrow’s a new chance to start again. If you’re going to tackle this positive thinking goal for 2017, you’re going to need to be cognizant of a few traps that can affect your decision. Negative attracts negative, so all those gossip-talking, pity party, “Debbie Downer” people you know may rope you into your old habits and thought processes.

I’m not going to suggest you cut them off, in fact maybe you might actually influence them to start thinking more positively and productively. If that doesn’t work, just limit the conversation and interaction, and don’t take the bait; there’s always a silver lining. Furthermore, changing something in your life is going to take practice. Keep training your mind to think more positively even though it may be instinctive to go down the negative road of things. Remember, everyone is entitled to have a bad day or two, but when the dust settles, pick up where you left off. Thinking positively can do amazing things for your life, both in a tangible sense by pushing you to believe that you can do something, which then you achieve, but even more importantly, when things in life aren’t so great, and

• Bianca Carter is a certified lactation counsellor (CLC) and founder of Bun in the Oven. For more information, e-mail her at info@babybunintheoven.com. Follow BITO on Facebook at babybunintheoven, and check out the BITO Blog every Monday and Thursday at http:// babybunintheoven.com.

mation than they did years ago,” said one millennial in the study. “I feel like millennial moms have a lot more pressure placed on them to do everything ‘right’.” Thus, despite the advances in technology that make their pregnancies different (or perhaps, more likely, because of it), millennial moms are turning to their own mothers for advice, even more than their mothers turned to the generation before them. Millennials are using the

“Grandma Filter” to essentially qualify and validate information that they are receiving from other sources. In fact, when it comes to preparing for parenting, millennials turn to their mother/mother figure more than any other resource on a variety of topics. The “Grandma Filter” is number one when it comes to emotional/family concerns, relationship advice and determining what supplies she will need to register for. And, millennial moms also turn to their mother nearly three times more often than baby boomer moms would have regarding financial concerns in preparing for a new baby. Even though she has so many more resources at her disposal, and she still goes to her doctor, spouse/significant other and friends and other family members on many matters, the millennial’s increased reliance on her own mother has changed significantly over the years. Which all indicates that regardless of when they are pregnant, moms ultimately want what is best for her baby, but deciding what that is might best be determined with a slight tweak to the adage. In fact, “Mama’s MAMA knows best.”

challenges are great, thinking positively through whatever situation that arises will allow you to think more clearly, make better decisions, and make you ponder the good things rather than the bad. Not a shabby way to start a new year!

Mama’s Mama knows best (BPT) - The millennial momto-be uses an app to track her fertility and pregnancy progress, pins nursery ideas on Pinterest and researches baby gear on YouTube. She reads online advice on everything from what to eat (or not), to when to talk to a doctor about prescription prenatal vitamins and what to do with the placenta after delivering. Never without a smartphone in hand, armed with an app for everything, always connected or “on,” millennials were born in an era of emerging technology between 1980 and 1995, and have grown up in an ever-increasing digitally-enhanced environment. Access to technology and social media has defined every aspect of her life, including the expectant millennial’s approach to pregnancy. It’s a drastically different world than when her own mother was pregnant. But what does this over-abundance of connectivity and information mean for the digital-savvy millennial mom-to-be? Per a recent poll, for nearly 60 per cent it means there is too much conflicting advice on tips for a healthy pregnancy. In the poll conducted by Exeltis, the company that produces the number one doctor recommended prescription prenatal vitamin, Vitafol, 500 millenni-

Millennial momsto-be often have the challenge of separating the valid from the not so valid advice that can be found in abundance on the internet. als and 500 baby boomers were asked to reveal details on their approach to pregnancy. While sifting through all the information available today was overwhelming to expectant millennials, only 36.2 per cent of baby boomer moms, whose pregnancies were “pre-Google” and social media, felt this way. In addition, in our constantlyconnected world it’s common for people to feel licence to dispense unsolicited advice to expectant

moms. Twice as many millennial moms report they received advice while they were pregnant that they disregarded or didn’t agree with as compared to baby boomer moms. That’s why it’s no surprise that with so much (often conflicting) sought-out and unsolicited information and advice, 51.8 per cent of millennials said they had a hard time deciding which pregnancy advice to believe. “We have so much more infor-

THE TRIBUNE

Tuesday, January 17, 2017, PAGE 11

2017: Do you have an optimistic outlook for your life? Michelle Miller Motivationals

Michelle M Miller

ere we grow again. Another brand new year has graced us with its presence; giving us another chance to finally do the darn thing! There is something magical about the presence of a new year. Not only do have you a spanking new page, but an amazing new book filled with 12 months of clean, blank pages on which you can write your higher goals and positively redirect your life. You can also reflect on the last 12 months to see where you want to shift. Essentially, a new year gives us a new opportunity to develop an improved overall outlook for our lives. The question is, what will you do with your new year of blank pages – will you get better or bitter; will you be more optimistic or more pessimistic? I’m hoping you commit to adopting a more optimistic and grateful attitude. I know for sure how quickly life can change, as January 2016 met me hospitalised in Orlando, Florida. So I’m especially grateful to welcome 2017 and extend oceans of gratitude for my incredible journey from then to now. For sure, I have an optimistic outlook for my life 2017, which I’m declaring as a year for inner transformation. I want to focus on aspects of today’s question. The first is optimism. Optimism is a quality that we

should all seek to harness, considering Winston Churchill’s famous quote that “a pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” Research indicates that optimism improves your overall well-being; stimulating the immune system, preventing chronic disease, promoting healing and helping people cope with the challenges of life. From my own vantage point, I know for sure that it was my optimistic attitude that strengthened my capacity to deal with my medical setback of 2016. It is also noteworthy that gratitude is connected with optimism. Grateful people are purported to be happier, less stressed, more amiable and are less depressed. Research also suggests that the optimists and pessimists approach problems differently, which affects their ability to successfully cope with adversities. It is for these many reasons that you owe it to yourself to spend some time developing this wonderful trait of optimism.

“Research indicates that optimism improves your overall well-being; stimulating the immune system, preventing chronic disease, promoting healing and helping people cope with the challenges of life.”

This brings me to the importance of your outlook for your life. First things first, recognise that your outlook is more often only a reflection of your ‘in look’. It is said that we see the world not as it is but as we are. The main reason this is so is because only by changing your world within you can change the world without. Meaning that when you get your inner world ‘straight’, your outer world follows suit. Accepting that you have the power to change your life is the key to experiencing any real change. Too many people are too quick to outsource their power to some ‘life guru’ to fix their lives and make it better. This kind of thinking only keeps you shackled in the chains of fear; blaming and complaining but not experiencing any life improvements. As a life coach/counsellor I remind my clients that they are their own problems and they are simultaneously their own solutions. My role is purely to support their desire for change by helping them set higher goals and hold-

ing them accountable for changing themselves in order to change their life. Life is only about change. Since you know it is about change, you have an opportunity right now to choose the changes you want and get busy moving towards making those change happen. Leader to leader, in this brand new year of 2017 make up your mind to build an optimistic outlook for your life. Forget the habitual routine of resolutions. Instead, set some higher goals and consider joining my Goals Outlook Coaching programme to help you redirect your life. It takes an optimistic outlook to live an empowered life. Yes, you definitely can do it. What do you think? Please send your comments to coaching242@yahoo.com or call 429-6770. • Michelle M Miller is a certified life coach, communication and leadership expert. Visit www. michellemmiller.com; mail can be sent to PO Box CB-13060.

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January 31st, 2017

Economic Stagnation: Finding A Path to Growth How will global issues affect you and your business in 2017?

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SECTION b

tuesday, january 17, 2017

Divinely inspired transformations

By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

hat started off as a makeup artistry and jewellery design company has now blossomed into a movement to empower women through a personal relationship with God. Bahamian entrepreneur Ernica Scott started Divine Transformations nearly three years ago as a way to tap into her talents while also diversifying her income sources. But as she began to seek God’s path and purpose for her own life, the company underwent its own transformation. It was rebranded recently to promote not only the outward transformation of women, but their inner transformation as well. Ms Scott is a Bahamian educator-turned-entrepreneur who is passionate about living a purpose-driven life and inspiring others to do the same. “Upon giving my life to God he gave me hope and told me the truth about myself – that I can achieve all He says I can and it’s in me. For my past nor present can disqualify me, He gave me hope to believe in myself and actually dream, and He gave me a love for encouraging young women to connect in relationship with Him. Find out what He is saying about their future and help them to

Entrepreneur Ernica Scott aims to empower women through God

because they have either never connected with God to know the truth about themselves or they don’t have the right people around them to spur them on to great works and endure life’s hardships. “Many women only hang around those who join them in complaining about the struggle to greatness and their failures, which then results in them settling for being a victim in life. There are many doors of opportunity that were afforded to me and I want to encourage other young women not to give up, but be intentional in their efforts defy the odds like I did and will continue to do, and it is a guarantee you will succeed if you partner with the Holy Spirit,” she said. At the heart of Divine Transformations is the goal to propel women into a relationship with God first so that they know exactly what he has designed and called them to do, she explained. Ms Scott said by fulfilling her calling in this man-

“I hope to help women be free from fear and embrace that they are loved by God and they don’t have to seek validation and acceptance anywhere else because they already have it in Him.” plan their way forward to achieve their goals and dreams to be prepared for their success,” she told Tribune Woman. With this goal in mind, Ms Scott is hosting “Fly Free”, an upcoming conference to be held at the British Colonial Hilton on January 28 from 10am 1pm. During the event there will be three speakers – Dr Gia Jones, a psychologist who will speak on the topic of ‘wholeness’; Gina Smith, who will speak about entrepreneurship, and Ms Scott herself, who will address embracing one’s identity in God. “I desire to see women living free from fear, insecurity and low-self esteem; viewing themselves as a gem, not comparing themselves to anyone else, but confidently embracing their beauty and identity in God,” she said. Ms Scott said she has seen many great women never fulfill their purpose

ner she hopes to see other women do the same. “I want to see women confidently owning their identity in God as daughters, and functioning from a place of being whole physically, spiritually, emotionally and mentally through partnering with Holy Spirit to bring about His creative works on the earth and silence the groans of a nation that needs them,” she said. “I hope to help women be free from fear and embrace that they are loved by God and they don’t have to seek validation and acceptance anywhere else because they already have it in Him. I also want women overcoming fear of failure and fear of other’s opinions and help women step out in boldness to do what they know they are supposed to or ask for the details of what they are supposed to do and do it. Even if they do it in fear, God will be with them and so He will always have a plan to bring them back on track if they

Divine Transformations started as a makeup and jewellery company before being rebranded.

Educator-turned-entrepreneur Ernica Scott fail or make a mistake. Pitfalls help you to know how to regroup and perfect things. You have to fight for what you want because it’s worthwhile obtaining. And your success is already guaranteed in God because Jesus is a winner and they are, too.” One of the main things she hopes women are left with at end of the upcoming conference is “the love of the Father, a renewed mind, and to be able to walk confidently and unashamedly in their Godgiven identity.” “I hope they see themselves the way God sees them, and only partnering with what God says about them, thus breaking free from the crippling fear of worry and questions about, ‘Why me; I can’t do it. It’s too big for me.’ I hope they break free from the box others have placed them in and exceed the expectations and limitations of themselves and others,” she said. During the conference, Ms Scott will also give a few make-up lessons and tips. • For more information contact hereignsforever@ hotmail.com.