07132023 BUSINESS

Contaminated oil a new blow to Andros power

By FAY SIMMONS Tribune Business Writer jsimmons@tribunemedia.net

A CONTAMINATED supply of fuel led to a new shutdown of a power unit in Andros as restoration efforts continued following the fire that severely damaged BPL’s North Andros Power Station last week.

Speaking in the House of Assembly yesterday, Minister of Works Alfred Sears revealed that shortly after one of the mobile generator units was brought online it had to be shut down due to contaminated fuel.

He said: “Power was partially restored when the 1.2MW was made available after 7pm on Monday evening. On Sunday, BPL also received a fuel supply. The fuel was contaminated, containing water causing the 1.2MW unit to shut down just after midnight on Tuesday.”

“The 1MW unit was not fueled from this source and the 1.6MW unit was not started. This resulted in outages for all areas of North

• Minister says water in fuel led to new shutdown

• Sears: $600,000 spent on restoration efforts

Andros except Nicholl’s Town and Conch Sound.”

Mr Sears added that although 90 percent of North Andros has had power restored, the damaged generator needs fuel injector replacements and the remaining generators are currently running on 80 percent capacity to prevent overloading.

SEE PAGE B2

Exuma water works to be complete ‘early next year’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE WATER and Sewerage Corporation (WSC) has commenced water main works for the Exumas to be completed by early next year.

Alfred Sears, minister for works and public utilities, said at a press conference yesterday that the first scope of works executed will be water mains for Little Exuma that will cover

over eight miles for a contract price of $4,471,418.88. Bakerwick Construction Company Ltd in joint venture with Tycoon Management will be doing the construction.

Mr Sears also said: “The project will entail extending the system from Rolletown eastward to serve the communities of Hartswell, the Ferry, Forbes Hill and into Williams Town. The contractor has fully mobilised with his equipment and

SEE PAGE B2

Ministry hires 20 more to ‘blitz’ pothole problems

By FAY SIMMONS Tribune Business Writer jsimmons@tribunemedia.net

ALFRED Sears, Minister of Works said his ministry has hired 20 employees to conduct road maintenance - and said it was the first set of employees hired

$32m ‘holographic’ theme park plans to ‘reimagine’ Old Nassau

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE PRINCIPAL behind a $32m theme park eyed for the Western end of New Providence is promising a holographic experience along with a “reimaging of Old Nassau.”

Kevin Burrows, principal of Nassau World Production, told Tribune Business the proposed “Holloworld” theme park is eying September this year to have raised all $32m in order to commence an 18-month construction phase that will have a holographic experience as its primary feature.

“For the virtual tours, we will make them as realistic as we can make those. In terms of a fantasy element, some of the 3D rides will probably contain a fantasy element or a re-imagining of what Old Nassau may

look like in the time of the pirates,” said Mr Burrows.

He added: “It’s a very small theme park. The way it is, there’s going to be a room where you can walk through and it has the full LED holographic effect that’s around you, right and that’s going to be a big cavernous room.”

Mr Burrows compared the technology as being similar to that at the Harry Potter theme park, where you sit down in front of a large screen and the chairs shake in time with the ride. He said it was “similar to the 4D that they have at Fusion (Superplex)”.

He added: “These things don’t take up huge amounts of space, because there’s no true movement and they’re just individual rooms and same with the escape room. Escape rooms tend to be fairly small and you look for clues, you can do it holographically or you can

to repair potholes in four years.

Speaking in the House of Assembly, he said: “Just two weeks ago, the ministry engaged in regular employment in the ministry some 20 road maintenance staff who are directly

SEE PAGE B3

MINISTER of Works Alfred Sears.

ROWDY Boys Construction signing papers at yesterday’s press conference.

Photo:Moise Amisial

$5.60 $5.63 $5.70 $5.62

Employee sabotage in the workplace

What comes to mind when you hear the word “workplace sabotage?”

The origin of the word “sabotage” is questionable, however advocates a major issue for any business. In fact, it can lead to decreased productivity, damaged relationships between co-workers, poor customer service and even result in serious legal problems for the perpetrator.

Many would be surprised to learn that sabotage is actually a fairly common occurrence in today’s workplace as it is an intentional act that also undermines the productivity of an organization. It appears in various forms and unfortunately, it’s not always easy to detect, simply because it often occurs in secret. But does this happen today and what does it mean? Yes, it does.

Ultimately, workplace sabotage can be challenging

DEIDRE BastiaN By

as it can significantly harm the performance and morale of a business and often appears in subtle forms and presents itself as an active and passive disruption. To simplify these two terms, think of active sabotage as doing

something you shouldn’t be doing which causes harm to an organisation, while passive sabotage is not doing something you should be doing, which thereby harms the organisation as well.

To help prevent further incidents of workplace sabotage, there are several strategies that can be enforced:

Ensure that policies and protocols are clearly understood

Employers must create and enforce policies and protocols to prevent workplace sabotage. It’s also important to ensure that everyone in the workplace understands what acceptable behavior is and what it isn’t, as well as the consequences of any unacceptable actions. Nonetheless, all employees should be aware of their performance expectations, workflow processes, and objectives to ensure

the business is steered in a constructive direction, to prevent adverse effect on productivity or hinder the organization’s growth.

Overall, having a welldefined set of goals and expectations can help create a sense of unity among employees, which can lead to increased productivity and a better work environment.

Develop strong manageremployee relationships

Having strong manageremployee relations is essential. When employees are comfortable speaking with their managers, they are more likely to express their concerns and frustrations in a constructive manner rather than resorting to disruption.

Monitor regularly

As a precautionary measure, companies should always implement a policy that outlines the acceptable

usage of company computers and networks.

Implement employee surveys

Regular surveys can assist management in identify any underlying issues as well as gauge employee satisfaction to address them early.

Questions about workplace satisfaction, team relationships, and the atmosphere of a business should be included in surveys.

Train employees on conflict resolution techniques

It is also important to train employees on conflict resolution techniques to address disputes in a constructive manner. This can involve learning to listen actively, share opinions without judgment, and ultimately reach mutual beneficial outcomes.

To this end, workplace sabotage can have serious consequences for any organization, therefore

should be taken seriously.

And as indicated, some of the most effective approaches to prevent workplace sabotage is by addressing issues as they arise, establishing clear policies and procedures regarding unacceptable behaviors in the workplace, letting employees know that such behavior will not be tolerated, and enforcing consequences when rules are violated etc. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

• NB: Columnist welcomes feedback at deedee21bastian@gmail.com

ABOUT COLUMNIST:

Deidre M. Bastian is a professionally-trained Graphic Designer/Brand Marketing Analyst, Author and Certified Life Coach

Exuma water works to be complete ‘early next year’

FROM PAGE B1

material now at his project compound and has commenced construction works.

It is anticipated that the Little Exuma project will be completed in 230 calendar days.”

The second scope of works will be for three miles of water main replacement for Georgetown, “including the replacement of 200 water service connections to homes and businesses in the Georgetown area,” Mr Sears said. “The contract scope also includes the provision of 6.2 miles of new water mains to serve the communities of Alexander and Barraterre including the provision of 130 new

water service connections for homes and businesses.”

Rowdy Boys Construction will be doing the construction work in Georgetown and the contract value is $4,617,044.38 and is expected to commence work shortly.

Mr Sears also said: “This approximately $9.1m in contract works is being coordinated in conjunction with the Ministry of Works and Utilities ongoing road paving works on mainland Exuma to ensure that the required underground infrastructure is installed, tested and commissioned prior to road paving works.”

He added: “The WSC will also be working with

local and international stakeholders to support the refurbishment of the Exuma Wastewater Treatment Plant and improve the collection of wastewater from developments in the Georgetown waterfront area and boats moored in Elizabeth Harbour.”

Works have also been completed to improve storage capacity on Staniel Cay and distribution system extensions are also being planned for Black Point. In addition, standby generators have been installed on Staniel Cay and Farmers Cay to improve the reliability of those water supply systems.

FROM PAGE B1

incrementally brought onto supply starting at about 3pm on Tuesday, July 11.”

“With both the 1.6MW and 1MW units only utilising about 300KW, 90 percent of the customers in North Andros are on supply. Both machines have been restricted to just 80 percent of their capacity to prevent overloading. BPL anticipates that when the fuel injectors are replaced on the 1.2MW unit and further generation integration occurs, all customers will have supply restored.”

Mr Sears said two of the generators were contracted from Mechanical and Electrical Ltd (M&E), while another was sourced from another Family Island.

He said: “Mechanical and Electrical Ltd (M & E), the local Caterpillar dealer, was contracted to supply mobile units. M&E was able to supply two units, 1.2MW and 500KW. These units were shipped from New Providence on the M/V Lady Rosalind and arrived at Morgan’s Bluff, North Andros, after midnight on Thursday, July 6.”

“A third unit, 1.6MW, a part of BPL’s Family Island operations, was shipped to

the island on the M/V President Taylor and arrived in North Andros on Thursday evening.”

Mr Sears said BPL has spent about $600,000 on the restoration efforts in North Andros so far and that once all of the units are online the total capacity in the area will be 3.8MW. He said: “To date, BPL estimates that its current cost for restoring supply to North Andros is approximately $600,000. This amount is inclusive of generation purchased, auxiliary parts as well as shipment costs. But the final amount will be determined in due course.”

“BPL anticipates that the 1.6MW, 1.2MW and 1MW units will provide the supply to North Andros and backup. North Andros’ peak demand is approximately 2MW. Once the second and third units are integrated, BPL’s installed capacity in North Andros will be 3.8MWs.” Tribune Business contacted Mr Franklyn Wilson, chairman of FOCOL, to ascertain if he was informed of the contaminated fuel supplied to BPL. He indicated he was not aware of the situation and therefore could not offer comment.

SIGNATORIES at the ceremony yesterday.

Photo:Moise Amisial

Treasure Cay work ‘complete’ - but residents not so certain

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE executive chairman of the Water and Sewerage Corporation has said sewerage works in Treasure Cay have been completed.

Sylvanus Petty said at a press conference yesterday, when asked about the post-Dorian works and the completion of the Treasure Cay waterworks project,

that he is “very happy to report that the project has been completed. They are testing right now and they haven’t had any challenges from last year November". He said: “So everything in Treasure Cay right now as far as the septic system is concerned is completed and we will be inviting the press down for a commissioning very soon as we consult with the minister on a time and we will be inviting down to Abaco.”

However, residents of Treasure Cay had a different take on the septic system works.

Daniel Proctor, second homeowner, told Tribune Business: “Sewer works are essentially complete but still not without problems. The manhole covers still have not arrived, leaving open holes allowing rain to enter and posing a danger.

“This past holiday week, system alarms were triggered when BPL (Bahamas

Ministry hires 20 more to ‘blitz’ pothole problems

responsible for road patching utilising newly acquired equipment such as trucks and other tools to meet this urgent need.

“This is the first time in over four years that the ministry has been able to engage staff and obtain equipment to address this issue of potholes. I believe that the public will soon see a marked improvement in terms of safer and drivable roads.”

Mr Sears added that ten contractors have also been recruited to supplement the Road Patching Unit and conduct a “massive blitz” to alleviate motorist’s pothole woes.

He said “We are in the process of engaging ten contractors who have demonstrated expertise in pothole patching over the years, to supplement the Ministry’s Road Patching Unit, to begin a massive blitz to address this problem.

“Three contracts have already been signed and the remaining seven are expected to be signed today and work will continue over the next few days and the weeks ahead.”

Mr Sears stated that the rainfall over the past two months have hindered ongoing patching efforts on New Providence and led to larger holes being formed.

He maintained that the ministry is committed to ensuring the maintained efforts are completed and that work recommenced last weekend.

He said “The Ministry of Works and Utilities has been monitoring the roads within New Providence and is in the process of increasing pothole patching efforts.

“Due to the more active precipitation events during June and July 2023, the conditions have been hindered current road repairs efforts with ponding and wet areas thereby compromising the quality of repairs. This has resulted in larger potholes and road edge erosions.

“The ministry remains committed to ensuring that road maintenance works continue despite these conditions. We resumed weekend road repair works starting this weekend to eliminate the current road defects backlog. “

During the 2023/2024 Budget contribution, Mr Sears announced that major road works have been budgeted for New Providence. Yesterday, Mr Sears said the roads that will be paved include East Street South, Kennedy Subdivision Road, portions of Bay Street and the Eastern Road.

He said: “In my recent contribution to the Budget debate, I made mention of the fact that my ministry would be undertaking

major arterial road re-paving during this fiscal year. This is based on the fact that many of these arterial roads have not been repaved/reconstructed in over twenty years and this state of affairs has led to some of the pothole conditions that we are experiencing at this time.”

“It is against this background that we will shortly commence the repaving of the following major arterial roads, South Beach Community Roads; Windsor Field Road – Portions; Bay Street between East Street and the Old Bridge; Eastern Road; Winton Highway; Woodland Way; East Street from Palm Tree Avenue to Robinson Road; East Street South; Tonique Darling Highway; Joe Farrington Road; Baillou Hill Road South of Carmichael Road; Baillou Road Between Tonique Darling and Robinson Road; Hospital Lane; Zion Boulevard; Kennedy Subdivision Roads.”

Mr Sears said some roads have been severely damaged sue to drainage issues and will have to be resurfaced instead of being patched. He encouraged the public to send in pothole complaints to the Ministry of Works WhatsApp hotline so the ministry can be made aware of new and widening holes quickly.

Power and Light) power failed (as it often does) and was off for an extended period allowing holding tanks to fill up near capacity. No provision was ever made for generator backup despite requests. All in all, the system is a vast improvement over three plus years of no system - but Treasure Cay still lacks a sewage treatment facility.”

Eric Bethel, property owner and amenities board member, also said: “They

He said: “Intersections, such as East Street and Cordeaux Avenue and East Street and Balfour Avenue, that have been severely impacted by poor drainage conditions are being scoped for resurfacing as regular pothole patching repairs are not enough for these areas.”

“We ask the public to continue to send their complaints to the Ministry’s WhatsApp hotline numbers 376-0936 and 557- 3227 as it has been a tremendous assistance in our scoping efforts.”

Shanendon Cartwright, MP for St Barnabas, argued that motorists should be compensated for damage to their vehicles due to potholes and that Bahamians should expect a ‘certain level’ of services from the government.

He said: “The natural expectation of the Bahamian people should be that they pay their taxes and if your car falls into a hole, it really should be the government’s responsibility to compensate the Bahamian people for what happens to that vehicle.”

“At the end of the day, the Bahamian people expect a certain level of service from government services. That’s the point that I’m making.”

started putting in some water and sewerage and I think they still have to tie some of it in to the main system.

“But I know on my road they are still sending the truck every now and then to pump out lift stations.”

There are also reports of a lack of potable water on Treasure Cay. Treasure Cay, like much of North Abaco, was left devastated after Hurricane Dorian made landfall in September, 2019.

The sewerage system has been a consistent problem despite Treasure Cay residents having raised money that was donated to the WSC to have the restoration works done.

The WSC took over a year to accept the funding offer from the residents, which had spanned from mid-2020 up until late 2021 when contracts were finally signed to complete the sewerage remediation work.

CANADIAN BANK PROBLEMS? GO LOCAL, SUGGESTS MINISTER

By FAY SIMMONS Tribune Business Writer jsimmons@tribunemedia.net

MICHAEL Halkitis, Minister of Economic Affairs, suggested a shift from Canadian banks to local providers can provide a solution to Family Island banking woes during a panel discussion at the inaugural Sustainable Development Goals conference yesterday.

He said: “In many of the other jurisdictions in the Caribbean, their local, what they call their indigenous banking industry, is much larger than what we have here in The Bahamas, we are still dominated by the Canadian banks.

“And, so I think what this tells us is that we need to have a more sustained push to the development and the deepening of our indigenous financial services industry, particularly

our indigenous banking industry.”

Mr Halkitis said Canadian banks deciding to close many of their physical locations throughout the Family Islands has created a "vexing situation" for residents.

He said: “A very, very vexing situation. Those of you who live in the Family islands or have relatives in the Family Islands would know or have experienced firsthand the fact that many of our banks have made the business decision or a financial decision, that it is not economical for them to maintain what they call a brick-and-mortar presence in the island. “So branches have been closed and unfortunately, many of our islands Island communities have been left without traditional banking services."

Mr Halkits said the Ministry of Finance is working with digital banking

providers to launch services in the islands that lack physical branches. He added that a pilot programme should be launched this year, however, ensuring that the necessary due diligence requirements including Know Your Customer (KYC) are adequately met has delayed the process.

He said: “There have been some providers who have stepped in to provide some basic services. The Ministry of Finance is an active discussion with some providers who are proposing a technological solution where services can be provided in the island, you know, deposits, withdrawals, even loans, in those far-flung communities where the banks have withdrawn.

“What has been taking some time is just making sure that they get all of the KYC, and making sure that we are able to have adequate KYC and due

LONDON EVENT SPOTLIGHTS BAHAMAS WEALTH SERVICES

diligence but we anticipate those will be sorted out very quickly, and so you will see before the end of the year, the provision for getting on a pilot basis of banks to some of these communities where traditional banks have withdrawn.”

Mr Halkitis added that the government is still promoting use of its Central Bank digital currency, sand dollar, and is making and receiving payments through the currency to encourage its use.

He said: “The Central Bank is reinvigorating its push for use of the sand dollar. And the government, we've been working closely with the central bank to make sure that the government is making payments in sand dollar and receiving payments in sand dollar so we lead by example.”

Mr Halkitis also announced a scholarship programme will be launched to attract young people into

THE BAHAMAS Financial Services Board partnered with Global Fund Media Group/Hedgeweek to host the annual Bahamas Spotlight event in London at Six Park Place on Wednesday, June 28. The briefing was held under the theme: “The Bahamas 360: The Complete & Compelling Choice”. It provided an opportunity for Londonbased service providers and advisers to hear from regulators and expert Bahamian practitioners on the range of wealth management services offered in The Bahamas.

Director of Finance Brandace Duncanson, of the Ministry of Economic Affairs, said: “We continue to adapt to the evolving requirements. In the past year, we are able to demonstrate compliance with EU AML standards, as well as the Financial Action Task

the public sector. He said the Ministry of Finance has a programme to recruit college graduates for the ministry.

He said: “We are in the process now of launching a scholarship program to attract other young Bahamians into the civil service. It will be a collaboration between the Ministry of Finance, the Ministry of Education, and the ministry for the public service, were we particularly offering scholarships for individuals who want to come into the public service.

“And so for example, within the Ministry of Finance, we have a young college graduates programme where we are attracting young people into the into the ministry and into the service.”

He said many civil servants are "poached" by the private sector and encouraged private financial institutions to ensure they

maintain an environment that encourages young Bahamians to establish their careers locally.

He said: “The expansion of the economy has created a lot of opportunities. We're very, very pleased to see when the unemployment figures came out the best in 15 years. And anecdotally even some of the regulators under our purview, tell us how difficult it is to keep talent because what's happening is the private sector is poaching a lot of the talent from the public sector.

“And I think for the private sector, a big part of the job is to ensure that you promote the stable economic environment that encourages people particularly in the financial services industry, to establish themselves here, and then hence provide opportunities for the young people.”

Force standards. We expect to do the same for EU Economic Substance Reporting standards in the near future. Just 6 months ago, we were deemed Largely Compliant with all 40 of the 40 Financial Action Task Force recommendations, making us the sixth jurisdiction in the world – out

of 206 jurisdictions in the FATF’s network to attain this status. Our Business Licence (Amendment) Bill, 2023, brings us in compliance with OECD standards related to IBCs, ensuring that business done inside and outside of The Bahamas are clearly identified and differentiated for taxation purposes.”

$32m ‘holographic’ theme park plans to ‘reimagine’ Old Nassau

FROM PAGE B1

have goggles and you can make your way through.”

The software behind the proposed theme park is critical to its appeal to the

public because the technology changes very quickly, so along with the features of the theme park there will also be a “hollo-campus”, where Nassau World Production will be teaching 3D programming and how to create the holographic experience.

Mr Burrows said: “We have a few sites in mind, but we can’t disclose it until we put the money down to

secure it. But we are looking at a number of sites that are not quite going to be Downtown; clearly it is going to be quite expensive. “But if you can imagine some plots of land between Bay Street and Baha Mar, in that area and along that strip. We are cognizant of bussing tourists back and forth and we don’t want them to be stuck in traffic for hours on end.”

THE BAHAMAS Spotlight event in London.

WSC lays out its $200m plan

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Water and Sewerage Corporation (WSC) outlined key parts of its $200m capital works plan with major works around the country.

The WSC told Tribune Business that over the next few years they will “unleash the largest, most strategic and comprehensive Capital Development Plan in the corporation’s history".

Some 80-plus projects totaling some $200m have been identified throughout the length and breadth of The Bahamas.

Bacchus Rolle, parliamentary secretary in the Ministry of Works, said:

“From the day to day work here and what’s happening at the WSC, there are a number of islands where work we expect to progress in Cat Island, Long Island, Eleuthera definitely and there’s a project in Abaco and of course in MICAL.

“So definitely there are any number of islands where the $200m will be spent and put to good use for the growth of the Bahamian people.”

The WSC sent Tribune Business a detailed list of these projects by email where they said for Abaco and Sweetings Cay, Grand Bahama post Dorian Works, the WSC has signed over $5.8m in contracts since September 2021 to complete post-Dorian works in the Abacos and Sweetings Cay, Grand Bahama.

“These include: A complete rehabilitation of the Treasure Cay and Spring City Abaco sewerage systems; significant water distribution system improvements for Central Pines and Eastern Shores, Central Abaco; supply and installation of climate resilient standby power

generators at all corporation sites; change Orders to support the completion of the new Grand Cay Storage Tank; Central Abaco Road Repairs; major improvements to water storage facilities and desalination plant production capacity and reliability improvements at Moores Island, Abaco and Sweetings Cay, Grand Bahama; and completion and start up of the Marsh Harbour water pumping station and solar facility. This 336KW solar facility is the corporation's largest alternative energy operation.”

There will also be works done in Eleuthera as the WSC continues to address water production, storage, supply, transmission and distribution infrastructure challenges on the island.

“Since September 2021, the corporation has commenced works in excess of $6.9m to improve these systems including: Substantial increases in water storage capacity for Central Eleuthera (Naval Base), North Eleuthera (the Bogue) and Harbour Island; extension of water mains on Russell Island; planned major repairs to the Spanish Wells Storage Tank; new standby generation for the Tarpum Bay distribution station and the Current Island Desalination Plant.

"In addition to these works, the corporation is presently in strategic negotiations with the cesalination contractor Aqua-Design for its Waterford, Tarpum Bay, Central Eleuthera (Naval Base) and North Eleuthera (Bogue) desalination plants and further public announcements will be made in due course. The government is cognizant and has mandated that the corporation complete strategic improvements to its contractual arrangements to ensure a consistent, reliable water supply network is

in place to support the tremendous growth the island of Eleuthera is presently experiencing."

The government is also said to be finalising arrangements for a public-private partnership to tackle water transmission and distribution systems ahead of road paving works, stretching from Hatchet Bay to South Eleuthera. Planning is said to be in the "very advanced stages".

In the Exumas, the WSC yesterday held a contract signing ceremony for contracts totaling $9.1m to two contractors to carry out extensive water transmission and distribution system extensions and improvements on mainland Exuma ahead of road paving (see story on page one).

WSC added: “In conjunction with these works and to secure a more consistent, reliable water supply, the Georgetown desalination plant’s production capacity was increased earlier this year from 330,000 imperial gallons per day to 450,000 imperial gallons per day to better serve the residents of eastern Exuma. Likewise, the corporation is making arrangements to put in place additional storage, pumping capacity and standby power generation to improve the reliability of its supply for western Exuma. These works for western Exuma will include the removal of the damaged storage tank at Steventon.

“In the Exuma Cays, works have been completed to improve storage capacity on Staniel Cay and distribution system extensions are being planned for Black Point. Also, new standby generators have been installed on Staniel Cay and Farmers Cay.

“The corporation will also be working with local and international stakeholders, to support the refurbishment of the Exuma wastewater treatment plant,

and improve the collection of wastewater within the Exuma Harbour.”

For Cat Island, the “WSC has worked very closely with the Ministry of Public Works and Utilities and the Ministry of Finance to conclude a public private partnership agreement for extensive water transmission, distribution and road paving works for all of Cat Island. The scope of works includes almost 95 miles of new water mains to serve approximately 1,000 residents and businesses on the island at a cost in excess of $30m. This represents the largest single infrastructure project on any single

Family Island in the history of the corporation.

“Road verge clearing works have commenced and it is anticipated the the contractor's initial materials will arrive on island during August 2023 and works will commence soon thereafter.

“To provide the potable water supply for this project, the corporation is in the final stages of awarding a contract for the supply, installation, commissioning and operations of two desalination facilities – one at Bennett’s Harbour to serve northern Cat Island and one at New Bight to serve southern Cat Island.

“At the conclusion of this project, we expect that every single home and business in Cat Island will have a world class, consistent, reliable piped water supply.”

For San Salvador, the WSC had the “Cockburn Town Desalination Plant’s production capacity increased from 90,000 imperial gallons per day to 120,000 imperial gallons per day in late 2022 to ensure adequate water supply for all residents, businesses and the recently re-opened Club Med Resort. Additionally, works are being planned at a cost of $160,000 to

SEE PAGE B6

Our company has been around gaming for over 30 years and pride ourselves on quality service and customer relationships. We are moving forward in the market and such are looking for qualified, dedicated, people friendly customer services representatives.

Jarol Investments Limited is seeking to fill the following position: Receptionist (Nassau)

Job Duties:

• Filing important and confidential documents.

• Projects such as gathering information by phone, letter, email or in person from clients.

• Recording and updating customer database (KYC).

• Photocopying and scanning documents.

• Sorting and distributing memos, flyers, letters etc, to staff and/or customers.

• Answering the phones, taking messages, transferring and properly screening calls etc.

• Assisting with customer related issues (account recovery, payout calculations, complaints etc.).

• Distributes checks to vendors, recording pick up/drop off dates, signatures etc.

• Communicating with the shops and distributing supplies.

• Perform other related duties as assigned by Management.

Interested persons should email their resume to careers@chancesgames.com.

Subject: Handyman or Janitress; or visit our Head Office on Prince Charles Drive (across from Restview Funeral Home)) between the hours of 9 a.m. to 5 p.m.

WATER AND SEWERAGE CORPORATION (WSC) HEADQUARTERS

‘Avoiding digitisation will cost you more’

By Mia Gardner

PLATO Alpha Design

CEO Duran Humes said the decision to avoid digital transformation is costing Bahamian businesses far more in the long run. From government agencies to the private sector, Mr Humes said Bahamian businesses continue to suffer the consequences of avoiding the need for digitisation.

“The results are farreaching,” Mr Humes said. “Inconvenience, slow response times, limited payment options, inefficient processes- all of these shortcomings can result in loss of customer trust, loyalty and ultimately lower revenue for your business. You're going to have to make the jump at some point. Think about it, you can lose sales

opportunities. Not to mention your operational and human capital costs can increase dramatically.”

The impact, according to Humes, goes far beyond the dollar, affecting the company’s staff complement, resulting in low-retention due to its failure to utilise good technology.

“With the advancement of technology, employees expect digital tools to help with their job, efficiency and job satisfaction suffer tremendously because of this,” Mr Humes said. “You can also suffer from reduced market share and lose access to forward thinking and highly qualified talent.”

A Harvard Business Review study cited the early adoption of

DURAN HUMES

new technologies as an avenue to better business outcomes.

In The Bahamas, some companies have seen the benefit and have made the digital transformation.

WSC lays out its $200m plan

repair the existing storage tank and other distribution system improvements are in progress.”

For Long Island, again arrangements are being made for a public-private partnership to improve water transmission and distribution systems ahead of

However, Mr Humes said many Bahamian companies continue to avoid the need to go digital and pay the price.

“Going digital, in a business sense, refers to the

process of transforming traditional business operations and strategies to include and leverage digital technologies,” he said.

“This shift can encompass a broad range of activities, from implementing automated software solutions to going completely paperless, establishing e-commerce platforms, utilising cloud computing, implementing AI and machine learning, or adopting data analytics for better decision making. The main goal of going digital is to enhance efficiency, improve customer experience, and increase competitiveness. However, it's important to note that digital transformation is not a one-time project but rather a continuous journey that requires constant adaptation to the

rapidly evolving digital environment.”

Plato Alpha Design has created custom software to help Bahamian businesses to change.

Mr Humes said with more widespread acceptance of the need to go digital, more Bahamian businesses will reap the benefits of digitisation.

“While going digital can be a complex process, the potential benefits in terms of increased efficiency, competitiveness, and customer satisfaction make it a worthwhile investment for many businesses. Furthermore, there are many resources available, such as consulting services, online resources, and digital transformation tools, to help businesses navigate this process.”

road

paving. In preparation for these works, WSC is working to increase the desalination production capacity at its Simms desalination plant and is reviewing the system demands at its Deadman’s Cay facility.

The statement also said that for Andros, it is soon to

invite tenders as part of its current Caribbean Development Bank Water Supply Improvement Phase I Project for the replacement of the entire water distribution system on Mangrove Cay and extensions to new areas.

WSC is also reviewing its Kemp’s Bay desalination

plant to determine what improvements are required to better serve residents from Kemp’s Bay to Mars Bay. WSC added: “Also, new standby generators have been installed to improve the reliability of our supply to the communities of Stafford Creek, Staniard Creek, Cargill Creek, Fresh Creek, and Mangrove Cay.”

For Mayaguana, Inagua, Crooked Island, Acklins and Long Cay, new standby generators have been installed, while the Colonel Hill desalination facility on Crooked Island was commissioned last summer to serve residents of Colonel Hill, Cabbage Hill and Church Grove.

WSC said: “The corporation is actively addressing the need for a desalination facility for North Acklins and we wish to assure the residents of Lovely Bay and Chesters that their days of challenges with the current groundwater system which is increasingly brackish will be addressed shortly.”

For New Providence, a $19.1m contract extension was signed with MIYA Bahamas Ltd covering January 2023 to December 2026 where there will be a focus on building capacity with a target of “non revenue water target of 1.5m imperial gallons per day by the end of 2026”.

There will also be sewerage improvements for New Providence with a $1.8m contract finalised with Island Site Development to complete upgrades and the Malcolm Park facility. Contract negotiations to complete the Gladstone Road wastewater facility are in the final stages. “A contract for approximately $100,000 has been awarded to carry out urgent rehabilitation works at our Coral Vista wastewater treatment plant,” said WSC.

The statement added:

“The WSC has commenced a project to increase the sustainable resiliency and capacity of our Windsor Wellfields. The project revolves around a strategy

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of utilising a green climate approach to provide an environmentally friendly source of affordable, quality potable water. Accordingly, the project encompasses the cleaning and rehabilitation of thousands of feet of groundwater trenches to protect, and to improve the safe yield of this natural resource. This pilot program will eventually be extended through-out the family islands, wherever water reserves are in active use.”

It added that ongoing discussions with international financing agencies for major capital works funding for the WSC are ongoing. WSC said: “To address the funding required to provide world class water and sanitation services across our beautiful archipelago, the corporation, with the support of the government is actively pursuing: A $25m to $30m Bahamas Water Supply Improvement Phase II loan facility with the CDB; A $49.7m facility with the Green Climate Fund to improve the climate resiliency of the water sector and to create the enabling environment to promote broader sector transformation to safeguard water security; and a major loan facility with the InterAmerican Bank to support the Action Plan arising from the Corporate Business Plan.”

POSITION AVAILABLE

A Company is seeking to employ full time professional mature persons over the age of 25 years of age, as SECURITY OFFICERS. Qualified applicants must be available to work shifts, have the command of “good people’s skills,” and a valid driver’s license.

Interested persons are to send their resume along with a photo ID, current police record and a copy of their NIB card, to email address – mngoccompany@gmail. com; on or before July 31, 2023. Only serious minded persons need to apply.

DEAL RAISES FEARS ABOUT GLOBAL FOOD SECURITY

By COURTNEY BONNELL AP Business Writer

CONCERNS are growing that Russia will not extend a United Nations-brokered deal that allows grain to flow from Ukraine to parts of the world struggling with hunger, with ships no longer heading to the war-torn country’s Black Sea ports and food exports dwindling.

Turkey and the U.N. negotiated the breakthrough accord last summer to ease a global food crisis, along with a separate agreement with Russia to facilitate shipments of its food and fertilizer. Moscow insists it’s still facing hurdles, though data shows it has been exporting record amounts of wheat.

Russian officials repeatedly say there are no grounds for extending the Black Sea Grain Initiative, which is up for its fourth renewal Monday. It’s something they have threatened before — then have twice gone on to extend the deal for two months instead of the four months outlined in the agreement.

The U.N. and others are striving to keep the fragile deal intact, with Ukraine and Russia both major suppliers of wheat, barley, vegetable oil and other food products that countries in Africa, the Middle East and parts of Asia rely on. It has allowed Ukraine to ship 32.8 million metric tons (36.2 million tons) of grain, more than half of it to developing nations.

The deal has helped lower global prices of food commodities like wheat after they surged to record highs following the invasion last year, but that relief has not reached kitchen tables.

Russia’s exit would cut off a source for World Food Program aid for countries at risk of famine, including Somalia, Ethiopia and Afghanistan, and compound food security problems in vulnerable places struggling with conflict, economic crisis and drought.

“Russia gets a lot of good public will for continuing this agreement,” said

Joseph Glauber, senior research fellow at the International Food Policy Research Institute. “There would be a cost to pay in terms of public perception and global goodwill, I think, as far as Russia is concerned” if the deal isn’t extended.

The amount of grain leaving Ukraine already has dropped, with Russia accused of slowing joint inspections of ships by Russian, Ukrainian, U.N. and Turkish officials and refusing to allow more vessels to join the initiative.

Average daily inspections — meant to ensure vessels carry only food and not weapons that could aid either side — have fallen from a peak of 11 in October to just over two in June. That has led to a decline in grain exports, from a high of 4.2 million metric tons in October to 1.3 million in May, a low for the year-old initiative. They rose to 2 million in June as shipment sizes grew.

If the deal isn’t extended, “the countries that had relied on Ukraine for their imports are going to have to look at other sources for imports, very likely Russia, which is something that I imagine Russia was intending,” said Caitlin Welsh, director of the Global Food and Water Security Program at the Center for Strategic and International Studies.

The U.N. has been negotiating with Russia, with Secretary-General Antonio Guterres sending a letter to Russian President Vladimir Putin this week about further implementing Moscow’s agreement, spokesman Stephane Dujarric said Wednesday.

U.N. trade chief Rebeca Grynspan told reporters that the U.N. proposal involves finding a way to enable Russia to carry out global financial transactions for its food and fertilizer shipments.

Grynspan wanted to go to Moscow this week to push for renewal of the deal, but when asked whether she was going, she replied, “It doesn’t seem so.”

NOTICE

Martha’s Vineyard Corporation INC.

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of dissolution issued by the Registrar on the 31st day of March 2023.

HARVESTERS collect wheat in the village of Zghurivka, Ukraine, on Aug. 9, 2022.

Concerns are growing that Russia will not extend a U.N.-brokered deal that allows grain to flow from Ukraine to parts of the world struggling with hunger, with ships no longer heading to the war-torn country’s Black Sea ports and food exports dwindling.

Meanwhile, Ukrainian President Volodymyr Zelenskyy said he expects new weapons pledges from Western allies to lead to “disruptions” to the initiative.

“It is understandable: Russia always reacts this way, does not keep its word and wants to block certain humanitarian corridors to create a new crisis,” he said after the NATO summit in Lithuania.

Ukraine’s Infrastructure Ministry says 29 vessels were waiting in Turkish waters because Russia

refused to allow their inspection.

Russia insists the agreement hasn’t worked for its own exports, blaming Western sanctions. While sanctions don’t effect food and fertilizer, Moscow is seeking carveouts from restrictions on the Russian Agricultural Bank, as well as movement on its ammonia, a key ingredient in fertilizer, to a Ukrainian Black Sea port. But the ammonia pipeline has been damaged in the war, the U.N. said.

“There is still time to implement the part of the agreements that pertains to our country. So far, this part has not been fulfilled,” Kremlin spokesperson Dmitry Peskov told reporters last week. “And so at the moment, unfortunately, we don’t see any particular grounds for extending this deal.”

Russia, however, has increased its wheat exports to all-time highs following a large harvest. They hit 45.5 million metric tons in the 2022-2023 trade year, according to estimates Wednesday from the U.S. Department of Agriculture. It expects another record for Russia in 2023-2024, with 47.5 million metric tons.

Meanwhile, Ukraine’s shipments have fallen by more than 40% from its prewar average, with USDA expectations of 10.5 million metric tons of wheat in the coming year — a big hit to its agriculture-dependent economy.

With less from Ukraine and more from Russia, the world’s available wheat stocks are the same as in 2021 — and there is enough of it to go around, said Peter Meyer, head of grain analytics at S&P Global Commodity Insights.

A Retail Company is seeking to retain a Temporary Accounts Payable Clerk

Requirements are as follows:-

• An Associates Degree in Finance at Minimum

• Minimal 1- 3 years experience

• Assist with maintenance of General Ledger

Account Codes

• Prepare and submit proper VAT filings as well as reports for upper management

• Posts Invoice disbursements and journal entry data into the accounts payable system for all services

• Reconcile vendor accounts by generating reports and cross-checking entries of banking transactions and prepayments

• Performs other ad hoc duties as required by the Supervisor and Department Head

Send your resume to: Bahamasjobs8@gmail.com

Photo:Efrem Lukatsky/AP

TAX PREP FIRMS SHARED ‘EXTRAORDINARILY SENSITIVE’

DATA ABOUT TAXPAYERS WITH META, LAWMAKERS SAY

By FATIMA HUSSEIN

Associated Press

THREE large tax preparation firms sent “extraordinarily sensitive” information on tens of millions of taxpayers to Facebook parent company Meta over the course of at least two years, a group of congressional Democrats reported on Wednesday.

They say some of that data was then used by Meta to create targeted advertising to its own users, other companies, and to train Meta’s algorithms.

The Democrats’ report urges federal agencies to investigate and potentially go to court over the wealth of information that H&R Block, TaxAct and TaxSlayer shared with the social media giant.

In a letter to the heads of the IRS, the Department of Justice, the Federal Trade Commission and the IRS watchdog, seven lawmakers say their findings “reveal a shocking breach of taxpayer privacy by tax prep companies and by Big Tech firms.”

Their report said highly personal and financial information about sources of taxpayers’ income, tax deductions and exemptions was made accessible to Meta as taxpayers used

the tax software to prepare their taxes.

That data came to Meta through its Pixel code, which the tax firms installed on their websites to gather information on how to improve their own marketing campaigns. In exchange, Meta was able to access the data to write targeted algorithms for its own users.

The program collected information on taxpayers’ filing status, income, refund amounts, names of dependents, approximate federal tax owed, which buttons were clicked on the tax preparers’ websites and the names of text entry forms that the taxpayer navigated, the report states.

Taxpayer data was also shared with Google, through its own tracking tools — though the firm told lawmakers that it never used the information to track users on the internet, according to the report.

The letter to federal agencies was signed by Sens. Elizabeth Warren, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Bernie Sanders, Sheldon Whitehouse and Rep. Katie Porter. The lawmakers called for the agencies to “immediately open an investigation into this incident.”

They ask the agencies to investigate “and prosecute any company or individuals who violated the law,” saying it could result in billions of dollars in criminal liability to the firms.

The Markup, a nonprofit journalism outlet focusing on technology, initially reported on the data-sharing between tax firms and Meta in November. A TaxAct representative said the firm has engaged with Warren’s office to explain its usage of the analytical tools and that protecting customers is its top priority.

A TaxSlayer representative said Wednesday that the report “contains

POSITION AVAILABLE ACCOUNTANT

A financial institution is seeking an Accountant. The successful applicant must be able to perform the following duties:

RESPONSIBILITIES:

• Prepare timely and accurate financial statements

• Ensure adherence to the proper accounting procedures and standards

• Oversee the annual financial audit

• Review new IAS Reporting Standards inclusive of Notes to Financial

Statements

• VAT Reporting and Filing requirements

• Regulatory reporting requirements

REQUIRED QUALIFICATIONS AND SKILLS:

• Bachelor’s Degree (professional certification preferred)

• Experience in financial services field for at least 3 to 5 years

• Excellent written and oral communication skills

• Ability to identify potential risk issues, source solutions, communicate

effectively with management

• Excellent administrative and time management skills

• Skilled in problem solving and analytics

• Driven and motivated to meet targets

• Proficient in Microsoft Office Applications

• Excellent team player with strong interpersonal skills

Salary and benefits will be commensurate with qualifications and experience.

Suitable candidates should submit their resume electronically to: positionavailable1985@gmail.com

SUBJECT: Human Resources - Accountant

A META sign is displayed at the company’s booth at the Game Developers Conference 2023 in San Francisco, March 22, 2023. A group of congressional Democrats reported Wednesday, July 12, that three large tax preparation firms sent “extraordinarily sensitive” information on tens of millions of taxpayers to Facebook parent company Meta over the course of at least two years.

numerous false or misleading statements” regarding the taxpayers’ personal and filing information sent to Meta and Google and it will request a retraction or correction from Warren’s office.

H&R Block said that it takes protecting client privacy very seriously and has taken steps to prevent the sharing of information through the Pixel coding.

And Meta said that it has been clear in its policies that advertisers “should not send sensitive information about people through our Business Tools.”

“Doing so is against our policies and we educate advertisers on properly setting up Business tools to prevent this from occurring,” the company said in an emailed statement. “Our system is designed to filter out potentially sensitive data it is able to detect.”

Meta’s Facebook has a history of failure when it comes to protecting user privacy.

One of its biggest scandals erupted in 2018 when investigations revealed that Cambridge Analytica, a firm with ties to Donald Trump’s onetime political

strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million Facebook users. That data was then used to target U.S. voters during the 2016 campaign that culminated in Trump’s election as the 45th president.

Facebook agreed to a $725 million user settlement in that case, and later was fined $5 billion by the U.S. Federal Trade Commission.

This May, the FTC proposed sweeping new changes to its standing privacy order for Meta that would bar the company from using any data collected from children under 18, including via its virtual reality technologies. The new rules would also force Meta to pause new products and services until an independent assessor confirms that they comply with the FTC order. The under-18 concerns stem largely from Facebook’s Messenger for Kids app, which has long drawn fire for insufficient privacy protections for its younger users.

Also in 2018, the company disclosed that almost 50 million accounts had

NOTICE

been vulnerable to the theft of digital “user tokens” that attackers could use to log into personal accounts. Facebook admitted the same year that most of its then 2.2 billion users had likely had their public data “scraped” by malicious actors.

Representatives from the IRS and FTC did not immediately respond to requests for comment. DOJ and the IRS watchdog declined to comment.

The Democrats say their report serves as an argument for the creation of an electronic free-file system for submitting tax returns that would be run by the government, which the IRS is currently piloting.

The IRS plans to launch a pilot program for the 2024 filing season to test a “direct file” system and help the federal government decide whether to move forward with potentially implementing it in the future.

The IRS in May published a feasibility report laying out taxpayer interest in direct file, how the system could work, its potential cost, operational challenges and more.

IN THE ESTATE OF VIOLA ALECIA RAHMING late of Kenwood Street, in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the above Estate are required to send their names, addresses and the particulars of their debts or claims duly certified in writing to the undersigned on or before the 15th August, A. D. 2023, after which date the Executrix will proceed to distribute the assets having regard only to the proved debts or claims of which notice have been given.

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date herein before mentioned.

EDWARD B. TURNER & CO. #24 Leonie Place

Flax Terrace off Malcolm Road Nassau, Bahamas

Attorney for the Executrix of the Estate of the late William Raymond Albury

Our company has been around gaming for over 30 years and pride ourselves on quality service and customer relationships. We are moving forward in the market and such are looking for hardworking, reliable, people friendly customer services representatives.

Jarol Investments Limited is seeking to fill the following position:

Handyman (Nassau)

Cleaning and maintaining property inclusive of cleaning windows, mopping entrance, light weeding & painting, clearing fences, throwing out garbage daily from offices, keeping yard swept and clean & washing all company’s vehicle on Saturdays.

Janitress (Nassau)

Cleaning office daily, mopping, sweeping, wipping doornobs, cleaning bathrooms, dusting desks & keeping kitchen area clean. Performs related duties as assigned by Management.

Interested persons should email their resume to careers@chancesgames.com. Subject: Handyman or Janitress; or visit our Head Office on Prince Charles Drive (across from Restview Funeral Home)) between the hours of 9 a.m. to 5 p.m.

Photo:Jeff Chiu/AP

HISTORIC ANCHOR BREWING CO. IS CLOSING

AFTER 127 YEARS, WITH BEER SALES IN DECLINE

By JANIE HAR AND MICHELLE CHAPMAN AP Business Writer

SAN Francisco’s 127-year-old Anchor Brewing Co. will shut down and liquidate after years of declining sales, citing tough economic conditions.

Anchor was a trailblazer in the U.S., brewing craft beers in the 1970s when most Americans were loyal to a handful of major brands. Its unique brewing techniques ignited demand beyond the city borders of San Francisco, and it quickly became a soughtafter prize by beer geeks everywhere.

In recent years, however, brewers have faced increasing difficulty turning a profit with a proliferation of canned cocktails, crafted drinks, spirits and wines dinging beer sales. Lockdowns during the COVID-19 pandemic pressured brewers further.

Last year, overall beer sales volume slid 3.1% in the U.S., according to the Brewers Association. Craft brewer sales volume

ticked 0.1% higher during the period, but imports are rising.

“We recognize the importance and historic significance of Anchor to San Francisco and to the craft brewing industry, but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations,” brewery spokesperson Sam Singer said in a written statement Wednesday.

Anchor Brewing had teetered near insolvency before and in the 1960s it was acquired by a Stanford University grad, Fritz Maytag. Maytag implemented new brewing practices such as dry hopping, and began bottling the beer in 1971, according to the brewer.

By the mid-1970s, Anchor Brewing had assembled a solid portfolio of respected brews — including Anchor Porter, Liberty Ale, Old Foghorn Barleywine Ale and its first annual Christmas Ale, which became a

IN this 2004 file photo, a number of artisan beers made at Anchor Brewing Co. are dsiplayed in San Francisco. Anchor Brewing Co. says it is halting its operations and liquidating the business, citing declining sales and challenging economic

holiday tradition in locales far from San Francisco.

Jeff Alworth, author of The Beer Bible, said in a blog post Wednesday that Maytag “sparked a revival in small-scale brewing” that would transform the industry and give the emerging craft brewing industry its ethos and attitude.

“He had this approach to beer, which was, ‘We’re

�e�uest for Tender� Internal Audit Services

�e�uest for Tender� Internal Audit Services

going to use traditional ingredients and we’re going to use traditional methods and we’re going to be defiant as we do it and we’re going to be hyper-local,’” Alworth said. “It served as a blueprint.” Anchor Brewing was sold to the Japanese brewer Sapporo in 2017 and it’s decided to discontinue the brand.

Anchor said that it made repeated efforts over the past year to find buyers for the brewery and its brands, but that it was unable to find one. It is still possible that a buyer will come forward as part of the liquidation process, the company said.

“Unfortunately, nothing lasts forever, but I still have hope that they can get rescued by somebody,” said

Ana Echenique, who was first introduced to Anchor Steam beer when she moved to San Francisco in 2011. Enchenique became such a fan that she would buy it whenever she saw it in stores in other cities.

The news of the brewery closing came as a shock to San Francisco native Frances Baxter, who said Anchor Steam beer is classic San Francisco just like sourdough bread.

“It’s just really sad because it’s over 100 years of history and it’s something so uniquely San Francisco,” Baxter said. “We lost so many sourdough bakeries … it’s a shame to lose this, too, because I’m not sure anyone is going to save it now.”

Baxter went to Anchor on Wednesday to buy Christmas Ale for a brother who lives in Pennsylvania, but the brewery was closed for the day. She said another brother would try to buy the beer for him Thursday because she will be working.

by key personnel i.e. Partners, Directors, etc., and other team members, the proposed schedule for submission of progress reports, and follo� up timelines.

 �eferences of �omparable �ngagements A list of references of similar or comparable engagements should be provided �ith the proposal. At least three (�) references should be provided and each reference must be clients retained for a minimum of t�e lve (��) months. A summary of the pro�ect and client names and contacts should be provided to enable the Bank to contact references if re�uired.

Applicants must declare any areas that may constitute conflict of interest related to this proposal

� Scope of �ork

The independent service provider �ill design, implement, and execute the internal audit function for the Bank. The service provider �ill meet �ith the Audit �ommittee and �xecutive �anagement to discuss the structure and intended design of the internal audit frame�ork The service provider �ill be responsible for designing the ne� frame�ork and developing an Internal Audit Policies and procedures to support it The service provider �ill also be responsible for development and execution of an integrated annual audit program for the function.

�uly ��th ����

Sub�ect� Internal Audit Services

Audit Services

� Purpose The Bahamas Development Bank (“the Bank”) is seeking to appoint an independent service provider (“the service provider”) to design and execute an internal audit function on behalf of the Bank. The service provider �ill create a plan for, design and execute an internal audit program for the Bank.

The Bank invites eligible vendors to submit competitive �uotes for the provision of these services. �ailure to provide a �uote that meets the minimum specifications re�uired may lead to dis�ualification of a bidder from selection.

The service provider �ill provide a proposed plan of action to achieve the ob�ectives of the internal audit function. Internal Audit �unction Design and Implementation Services and deliverables expected include�

�. �eet �ith Audit �ommittee and �xecutive �anagement to determine suitable structure for internal audit unit function of the Bank

�. Development of the Internal Audit �harter.

�. Set ob�ectives and performance measurements for the internal audit function.

�. �evie� and advise on the �uality of the existing internal control frame�ork, including best practice reporting relationships.

�. �onduct an �nterprise �isk Assessment for the Bank

Development Bank (“the Bank”) is seeking to appoint an independent service provider (“the provider”) to design and execute an internal audit function on behalf of the Bank. The service create a plan for, design and execute an internal audit program for the Bank.

� Background The primary purpose of the Bahamas Development Bank is to assist in the economic development of The Bahamas by providing financial and technical assistance in areas including Agriculture, �isheries, Tourism, Industry, �ousing and Business Development �or more information see� ���.bdb.gov.bs

�. Development of risk assessment and audit methodology for the organi�ation, including identification of audit universe.

�. Develop an internal audit �ork program to cover all departments �ithin the Bank.

�. �valuation, ac�uisition, and maintenance of audit tools and technology.

eligible vendors to submit competitive �uotes for the provision of these services. �ailure �uote that meets the minimum specifications re�uired may lead to dis�ualification of a bidder

� Terms and �onditions

�here a firm or company intends to submit a proposal, the re�uirements, and terms, including all instructions, re�uirements, and specifications, provided in this ��P should be revie�ed in their entirety

The Bank shall incur no liability in the case of failure of a proposing firm or company to understand the contents of the ��P. It is the service provider’s duty to properly understand and examine the ��P and re�uest any clarification or make any reasonable in�uiry and satisfy itself as to the completeness and sufficiency of its response.

� Subcontractors If a proposer intends to subcontract some of the �ork to another company or individual for any reason, the Proposer must identify the �ork items that they intend on subcontracting, to �hom, and the experience and �ualifications of the organi�ation or individual. The Bank reserves the right to approve all subcontractors.

� Schedule of �ork and �xpected Deliverables

The Proposer should present a preliminary �ork plan outlining key tasks, schedules and anticipated start and completion dates for each deliverable �ithin the scope of �ork re�uested.

� �eporting and �ommunication

purpose of the Bahamas Development Bank is to assist in the economic development of The providing financial and technical assistance in areas including Agriculture, �isheries, Tourism, �ousing and Business Development �or more information see� ���.bdb.gov.bs

The Bank and its officials, officers, employees and advisors are not liable or responsible in any �ay for any costs, expenses, losses, damages or liabilities incurred in the preparation of a proposal in response to this ��P. This includes but is not limited to costs associated �ith preparing the submission of its proposals, costs associated �ith the undertaking of any due diligence, and any other costs associated �ith this ��P process �esponses to this ��P and any ackno�ledgement of receipt of proposal shall not constitute an obligation on the part of the Bank to a�ard a contract for any services or combination of services. �ailure of the Bank to select a contractor by �ay of this ��P shall not result in any claim �hatsoever against the Bank

�onditions

The Bank reserves the right, in its sole and absolute discretion, to re�ect any or all proposals in part or in full, �ithout assigning any reason. The Bank may, at any time, vary the ��P process or abandon the ��P process �ithout assigning any reason thereof and �ithout notice.

The Proposer �ill report directly to the Audit �ommittee, functionally, and to the �anaging Director, for administrative purposes. It is expected that the selected team �ill submit periodic progress reports �ith recommendations on mutually agreed upon dates throughout the engagement period. The Bank may re�uest additional reports over the course of the contract period.

�� Pricing Structure and �ees

Proposers should provide a separate financial proposal outlining all proposed fees and the proposed pricing structure to complete the �ork effort. The financial proposal should be itemi�ed by expected engagement deliverables and should be inclusive of any ongoing costs. The contracted rate and any necessary scope changes �ill be revie�ed by the Bank annually. The annual contracted fee �ill be paid on a �uarterly basis.

company intends to submit a proposal, the re�uirements, and terms, including all re�uirements, and specifications, provided in this ��P should be revie�ed i n their entirety incur no liability in the case of failure of a proposing firm or company to understand the ��P. It is the service provider’s duty to properly understand and examine the ��P and clarification or make any reasonable in�uiry and satisfy itself as to the completeness and response.

�� �valuation �riteria

The Bank �ill consider the follo�ing factors in the evaluation and selection of proposals.

�. �ompleteness of Proposal�

The information provided by the Bank in connection �ith this ��P is for the sole purpose of this solicitation and is to be considered confidential. Any information learned by a Proposer in connection �ith this solicitation �ill not be revealed by such service provider or used for any purpose other than the preparation of their proposal.

This ��P shall be governed by the la�s of The Bahamas. Any legal action or proceedings arising out of or in connection �ith such terms and procedures shall be sub�ect to the exclusive �urisdiction of the courts of The �ommon�ealth of The Bahamas.

�. Appropriateness of Approach to �ngagement and�or �ethodology�

�. �uality and Depth of �esponse�

�. �ualifications and �xperience of �ey Personnel�

�. �uality of �eferences and Demonstrated �elevant �xperience in the Provision of Internal Audit Services�

�. �eputation of the �irm or �ompany�

�. �uality of Preliminary �ork Plan and Schedule� and

�. Pricing and �ee structure.

The Bank, in its sole discretion, may modify the re�uirements, terms, and conditions for this ��P

� �ontract Term

The initial contract period �ill be for t�o (�) years. The Bank reserves the right to extend the contract for �uality management, including updates, enhancements, and maintenance services.

� �onditions� information for applicants

These instructions are provided for general information for the preparation of the proposal. Proposals should be concise and contain the sections described belo� Proposals that fail to adhere to or comply �ith the prescribed format may be excluded from the evaluation process. The proposal should be submitted in �nglish and must include the follo�ing�

 Proposal �etter All proposals must be submitted �ith a duly signed proposal letter, �hich should include the signatures of the individual or individuals authori�ed to legally bind the firm or company (“the authori�ed person”).

Business Profile The proposal must include an overvie� of the firm�company i.e. Business profile.

The profile must include�

o Type of Business (i.e. �ompany, Partnership, etc.)

o Date of incorporation�formation�

The Bank reserves the right to evaluate the proposals either by itself and�or in coordination �ith and�or by engaging any external consultants.

�� �ontract A�ard

officials, officers, employees and advisors are not liable or responsible in any �ay for any losses, damages or liabilities incurred in the preparation of a pr oposal in response to this includes but is not limited to costs associated �ith preparing the submission of its proposals, costs the undertaking of any due diligence, and any other costs associated �ith this ��P process ��P and any ackno�ledgement of receipt of proposal shall not constitute an obligati on the Bank to a�ard a contract for any services or combination of services. �ailure of the Bank contractor by �ay of this ��P shall not result in any claim � hatsoever against the Bank

The Bank reserves the right to make no a�ard, make a partial a�ard, make multiple a�ards, or to a�ard in aggregate or by line item in scope of services as determined by the Bank to be in its best interest, sub�ect to determination that the price proposal is fair, reasonable, and provides the best value to the Bank given the re�uirements of the pro�ect.

Appointment as a successful contractor shall be sub�ect to the parties agreeing to mutually acceptable contractual terms and conditions. In the event of the parties failing to reach such agreement, the Bank reserves the right to appoint an alternative service provider.

�� �ontract �ompletion �riteria

�here a contract results from this ��P, such contract �ill be considered complete �hen the Bank has approved and accepted all assigned contract deliverables.

�� Insurance �overage

The selected contractor is to provide professional liability insurance covering the services described in the contract.

�� Deadline The due date for submission of the tender is ��th �uly, ���� �ate submissions �ill be returned unopened to the sender.

Please send all tenders clearly marked “Internal Audit Service Proposal” to �mail� careers�bdb.gov.bs Person� Submit by hand in the tenders’ box at BDB’s reception, add address.

�or any complaints regarding the tenders please refer to the �omplaints section on the BD B �ebsite.

conditions. The San Francisco-based brewer said Wednesday, July 12, 2023, that it gave employees 60-day notice and plans to provide transition support and separation packages.

Photo:Craig Lee/AP

A Biden plan cuts student loan payments for millions to $0. Will it be the next legal battle?

By COLLIN BINKLEY AP Education Writer

THE Biden administration calls it a “student loan safety net.” Opponents call it a backdoor attempt to make college free. And it could be the next battleground in the legal fight over student loan relief.

Starting this summer, millions of Americans with student loans will be able to enroll in a new repayment plan that offers some of the most lenient terms ever. Interest won’t pile up as long as borrowers make regular payments. Millions of people will have monthly payments reduced to $0. And in as little as 10 years, any remaining debt will be canceled.

It’s known as the SAVE Plan, and although it was announced last year, it has mostly been overshadowed by President Joe Biden’s proposal for mass student

loan cancellation. But now, after the Supreme Court struck down Biden’s forgiveness plan, the repayment option is taking center stage.

Since the ruling Biden has proposed an alternate approach to cancel debt and also shifted attention to the lesser-known initiative, calling it “the most affordable

NOTICE

repayment plan ever.” The typical borrower who enrolls in the plan will save $1,000 a month, he said. Republicans have fought against the plan, saying it oversteps the president’s authority. Sen. Bill Cassidy, the ranking Republican on the Health, Education, Labor, and Pensions Committee, called it “deeply

IN THE ESTATE OF WILLIAM RAYMOND ALBURY late of Rainbow Bay in the Central District on the Island of Eleuthera one of the Islands of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the above Estate are required to send their names, addresses and the particulars of their debts or claims duly certified in writing to the undersigned on or before the 15th August, A. D. 2023, after which date the Executrix will proceed to distribute the assets having regard only to the proved debts or claims of which notice have been given.

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date herein before mentioned.

EDWARD B. TURNER & CO.

#24 Leonie Place

Flax Terrace off Malcolm Road

Nassau, Bahamas

Attorney for the Executrix of the Estate of the late William Raymond Albury

PRESIDENT Joe Biden speaks about student loan debt relief at Delaware State University, Oct. 21, 2022, in Dover, Del. This summer, millions of Americans with student loans will be able to apply for a new repayment plan that offers some of the most lenient terms ever. Interest won’t pile up as long as borrowers make regular payments. Millions of people will have payments of $0. And starting in 2024, undergraduate loan payments will be reduced by half.

unfair” to the 87% of Americans who don’t have student loans.

The Congressional Budget Office previously estimated over the next decade the plan would cost $230 billion, which would be even higher now that the forgiveness plan has been struck down. Estimates from researchers at the University of Pennsylvania put the cost at up to $361 billion.

Emboldened by the Supreme Court’s decision on cancellation, some opponents say it’s a matter of time before the repayment plan also faces a legal challenge.

The U.S. Education Department offers several plans for repaying federal student loans. Under the standard plan, borrowers are charged a fixed monthly amount that ensures all their debt will be repaid after 10 years. But if borrowers have difficulty paying that amount, they can enroll in one of four plans that offer lower monthly payments based on income and family

size. Those are known as income-driven repayment plans.

Income-driven options have been offered for years and generally cap monthly payments at 10% of a borrower’s discretionary income. If a borrower’s earnings are low enough, their bill is reduced to $0. And after 20 or 25 years, any remaining debt gets erased.

As part of his debt relief plan announced last year, Biden said his Education Department would create a new income-driven repayment plan that lowers payments even further. It became known as the SAVE Plan, and it’s generally intended to replace existing income-driven plans.

Borrowers will be able to apply later this summer, but some of the changes will be phased in over time.

Right away, more people will be eligible for $0 payments. The new plan won’t require borrowers to make payments if they earn less than 225% of the federal poverty line — $32,800 a

LEGAL NOTICE

INVESTMENT FUNDS ACT, 2019

SAFRA GLOBAL TRADER FUND LTD.

Relaunch of the Fund

NOTICE IS HEREBY GIVEN THAT in accordance with section 22 ss. (5) and (7) of the Investment Funds Act, 2019, as amended, SAFRA GLOBAL TRADER FUND LTD. (the “Company”) has decided to resume its operation as a professional investment fund and has notified the Securities Commission of The Bahamas in this respect. The Securities Commission of The Bahamas accepted to lift the suspension of the license of investment fund of the Company effective June 28, 2023.

Israel Borba, Director Lyford Financial Centre, Building 2, Western Road, P.O. Box CB-10988, Lyford Cay, New Providence, The Bahamas

year for a single person. The cutoff for current plans, by contrast, is 150% of the poverty line, or $22,000 a year for a single person.

Another immediate change aims to prevent interest from snowballing.

As long as borrowers make their monthly payments, their overall balance won’t increase. Once they cover their adjusted monthly payment — even if it’s $0 — any remaining interest will be waived.

Other major changes will take effect in July 2024.

Most notably, payments on undergraduate loans will be capped at 5% of discretionary income, down from 10% now. Those with graduate and undergraduate loans will pay between 5% and 10%, depending on their original loan balance. For millions of Americans, monthly payments could be reduced by half.

Next July will also bring a quicker road to loan forgiveness. Starting then, borrowers with initial balances of $12,000 or less will get the remainder of their loans canceled after 10 years of payments. For each $1,000 borrowed beyond that, the cancellation will come after an additional year of payments.

For example, a borrower with an original balance of $14,000 would get all remaining debt cleared after 12 years. Payments made before 2024 will count toward forgiveness.

The Education Department says it will notify borrowers when the new application process launches this summer. Those enrolled in an existing plan known as REPAYE will automatically be moved into the SAVE plan. Borrowers will also be able to sign up by contacting their loan servicers directly.

It will be available to all borrowers in the Direct Loan Program who are in good standing on their loans.

Supporters say Biden’s plan will simplify repayment options and offer relief to millions of borrowers. The Biden administration has argued that ballooning student debt puts college out of reach for too many Americans and holds borrowers back financially.

Photo:Evan Vucci/AP

Wall Street returns to highest level in more than a year after inflation cools

By STAN CHOE AP Business Writer

WALL Street returned to its highest level in more than a year on Wednesday after a report showed inflation cooled a bit more than expected last month, which hopefully takes some more pressure off the economy.

The S&P 500 rose 32.90, or 0.7% to 4,472.16 to reach its strongest closing level since April 2022. The Dow Jones Industrial Average rose 86.01, or 0.3%, to 34,347.43, and the Nasdaq composite gained 158.26, or 1.2%, to 13,918.96.

Most stocks rose on Wall Street, from flashy Big Tech behemoths to staid utility companies, though the gains faded a bit as the day progressed. The U.S. government's latest update on inflation showed that consumers paid prices for gasoline, food and other items that were 3% higher overall in June than a year earlier.

That's down from 4% inflation in May and a bit more than 9% last summer. Perhaps more importantly, it was a touch lower than economists expected.

High inflation has been at the center of Wall Street's problems because it's driven the Federal Reserve to jack up interest rates at a blistering pace. Higher rates undercut inflation by slowing the entire economy and hurting investment prices, and they've already caused damage to the banking, manufacturing and other industries.

Traders remain nearly convinced the Fed will raise the federal funds rate at its meeting in two weeks to a range of 5.25% to 5.50%, which would be its highest level since 2001. But expectations are also climbing for that to be the final increase after rates started last year at virtually zero.

"They'll probably still pull the trigger on a hike, but it will be based on

symbolism more than

substance," said Brian Jacobsen, chief economist at Annex Wealth Management. He pointed to another report earlier this month that showed a slowdown in U.S. jobs growth, which could also take some pressure off inflation.

Treasury yields tumbled in the bond market after the cooler inflation data pushed

traders to trim bets for Fed action later this year.

The 10-year Treasury yield fell to 3.86% from 3.98% late Tuesday. It helps set rates for mortgages and other important loans.

The two-year Treasury yield dropped to 4.73% from 4.89%. It tends to follow expectations for the Fed more closely.

To be sure, even if the Fed does halt its hikes,

A CURRENCY trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 12, 2023. Asian shares were mostly higher on Wednesday after stocks advanced on Wall Street as investors awaited an update on U.S. inflation that will hopefully show a smaller increase in pain for everyone.

analysts warn the economy and financial markets still haven't seen the full effect of all the past increases. Rate hikes take a notoriously long time to filter through the system, and unanticipated pain can occur.

That's what happened in March, when high rates helped cause the failure of three U.S. banks and rattled faith in the system.

"Despite today's deceleration, we continue to expect inflation to remain above the Federal Reserve's 2% target, making it unlikely that we see policy easing soon," said Gargi Chaudhuri, head of iShares

Investment Strategy, Americas.

That means she expects rates to stay high for a while. That's also why many investors say the waiting game is still on to see if a long-predicted recession actually happens.

A resilient job market has helped to keep the economy out of a recession, though it's also under pressure from higher rates. The latest "Beige Book" from the Federal Reserve on Wednesday said that overall economic activity has increased slightly since late May. It also said several Fed districts have noticed some slowing in inflation.

by key personnel i.e. Partners, Directors, etc., and other team members, the proposed schedule for submission of progress reports, and follow up timelines.

 �eferences of Comparable �ngagements � list of references of similar or comparable engagements should be provided with the proposal. �t least three (�) references should be provided and each reference must be clients retained for a minimum of twelve (��) months. � summary of the pro�ect and client names and contacts should be provided to enable the Bank to contact references if re�uired.

�pplicants must declare any areas that may constitute conflict of interest related to this proposal

� Scope of �ork

�e�uest for Tender� Compliance Services

�e�uest for Tender� Compliance Services

�uly ��th, ����

Sub�ect� Compliance Services

� Purpose

The Bahamas Development Bank (“the Bank”) is seeking to appoint an independent service provider (“the service provider”) to execute the compliance function on behalf of the Bank. The service provider will create a plan for and execute the compliance program for the Bank.

The independent service provider will design, implement, and execute the compliance program for the Bank. The service provider will meet with �xecutive �anagement to discuss the structure and intended design of the compliance framework The service provider will be responsible for designing the new framework and updating the Compliance policies and procedures to support it The service provider will also be responsible for development and execution of an integrated annual compliance program for the function.

The service provider will provide a proposed plan of action to achieve the ob�ectives of the compliance function Services and deliverables expected include�

�. �erification of compliance with policies, procedures and controls relating to money laundering activities;

�. Completion of compliance on boarding approval of new accounts;

�. Periodic due diligence review of client’s accounts;

�. �ssessing risks relating to ����C�T re�uirements;

Purpose Bahamas Development Bank (“the Bank”) is seeking to appoint an independent service provider (“the provider”) to execute the compliance function on behalf of the Bank. The service provider will plan for and execute the compliance program for the Bank.

�. �onitoring and responsibility for ��C and compliance risk rating ;

The Bank invites eligible vendors to submit competitive �uotes for the provision of these services. �ailure to provide a �uote that meets the minimum specifications re�uired may lead to dis�ualification of a bidder from selection.

� Background

The primary purpose of the Bahamas Development Bank is to assist in the economic development of The Bahamas by providing financial and technical assistance in areas including �griculture, �isheries, Tourism, �ndustry, �ousing and Business Development �or more information see� www.bdb.gov.bs

�. Prepare monthly and �uarterly compliance reports ;

�. Drafting and updating the Bank’s compliance policies and procedures in accordance with regulatory re�uirements and best practices;

�. �aintaining a log of suspicious activities and reports;

�. �acilitating the compliance training program for all relevant staff members;

��. �onitoring developments and changes in legislation and regulations that affect the Bank;

invites eligible vendors to submit competitive �uotes for the provision of these services. �ailure �uote that meets the minimum specifications re�uired may lead to dis�ualification of a bidder selection.

��. �iaising with regulators, external auditors and other interested parties to ensure compliance matters addressed

� Terms and Conditions

�here a firm or company intends to submit a proposal, the re�uirements, and terms, including all instructions, re�uirements, and specifications, provided in this ��P should be reviewed in their entirety

The Bank shall incur no liability in the case of failure of a proposing firm or company to understand the contents of the ��P. �t is the service provider’s duty to properly understand and examine the ��P and re�uest any clarification or make any reasonable in�uiry and satisfy itself as to the completeness and sufficiency of its response.

� Subcontractors �f a proposer intends to subcontract some of the work to another company or individual for any reason, the Proposer must identify the work items that they intend on subcontracting, to whom, and the experience and �ualifications of the organi�ation or individual. The Bank reserves the right to approve all subcontractors.

ound purpose of the Bahamas Development Bank is to assist in the economic development of The providing financial and technical assistance in areas including �griculture, �isheries, Tourism, �ousing and Business Development �or more information see� www.bdb.gov.bs

and Conditions

The Bank and its officials, officers, employees and advisors are not liable or responsible in any way for any costs, expenses, losses, damages or liabilities incurred in the preparation of a proposal in response to this ��P. This includes but is not limited to costs associated with preparing the submission of its proposals, costs associated with the undertaking of any due diligence, and any other costs associated with this ��P process �esponses to this ��P and any acknowledgement of receipt of proposal shall not constitute an obligation on the part of the Bank to award a contract for any services or combination of services. �ailure of the Bank to select a contractor by way of this ��P shall not result in any claim whatsoever against the Bank

� Schedule of �ork and �xpected Deliverables

The Proposer should present a preliminary work plan outlining key tasks, schedules and anticipated start and completion dates for each deliverable within the scope of work re�uested.

� �eporting and Communication

The Proposer will report directly to the �anager, �overnance, �isk and Compliance �t is expected that the selected team will submit periodic progress reports with recommendations on mutually agreed upon dates throughout the engagement period. The Bank may re�uest additional reports over the course of the contract period.

firm or company intends to submit a proposal, the re�uirements, and terms, including all re�uirements, and specifications, provided in this ��P should be reviewed i n their entirety shall incur no liability in the case of failure of a proposing firm or company to understand the the ��P. �t is the service provider’s duty to properly understand and examine the ��P and clarification or make any reasonable in�uiry and satisfy itself as to the completeness and of its response.

�� Pricing Structure and �ees

The Bank reserves the right, in its sole and absolute discretion, to re�ect any or all proposals in part or in full, without assigning any reason. The Bank may, at any time, vary the ��P process or abandon the ��P process without assigning any reason thereof and without notice.

The information provided by the Bank in connection with this ��P is for the sole purpose of this solicitation and is to be considered confidential. �ny information learned by a Proposer in connection with this solicitation will not be revealed by such service provider or used for any purpose other than the preparation of their proposal.

Proposers should provide a separate financial proposal outlining all proposed fees and the proposed pricing structure to complete the work effort. The financial proposal should be itemi�ed by expected engagement deliverables and should be inclusive of any ongoing costs. The contracted rate and any necessary scope changes will be reviewed by the Bank annually. The annual contracted fee will be paid on a �uarterly basis.

�� �valuation Criteria

The Bank will consider the following factors in the evaluation and selection of proposals.

�. Completeness of Proposal;

�. �ppropriateness of �pproach to �ngagement and�or �ethodology;

�. �uality and Depth of �esponse;

This ��P shall be governed by the laws of The Bahamas. �ny legal action or proceedings arising out of or in connection with such terms and procedures shall be sub�ect to the exclusive �urisdiction of the courts of The Commonwealth of The Bahamas.

The Bank, in its sole discretion, may modify the re�uirements, terms, and conditions for this ��P

and its officials, officers, employees and advisors are not liable or responsible in any way for any expenses, losses, damages or liabilities incurred in the preparation of a pr oposal in response to this includes but is not limited to costs associated with preparing the submission of its proposals, costs with the undertaking of any due diligence, and any other costs associated with this ��P process to this ��P and any acknowledgement of receipt of proposal shall not constitute an obligati on of the Bank to award a contract for any services or combination of services. �ailure of the Bank contractor by way of this ��P shall not result in any claim w hatsoever against the Bank

� Contract Term

The initial contract period will be for two (�) years. The Bank reserves the right to extend the contract for �uality management, including updates, enhancements, and maintenance services

� Conditions� information for applicants

These instructions are provided for general information for the preparation of the proposal. Proposals should be concise and contain the sections described below Proposals that fail to adhere to or comply with the prescribed format may be excluded from the evaluation process. The pr oposal should be submitted in �nglish and must include the following�

 Proposal �etter �ll proposals must be submitted with a duly signed proposal letter, which should include the signatures of the individual or individuals authori�ed to legally bind the firm or company (“the authori�ed person”).

 Business Profile The proposal must include an overview of the firm�company i.e. Business profile.

The profile must include�

o Type of Business (i.e. Company, Partnership, etc.)

o Date of incorporation�formation;

o �ddress of registered office;

o �ame of key contact person and address for communication (i.e. phone contact and email);

o Business Status; and

o The name and position of key personnel (Partners�Directors�C��) and team members along with an attachment of their �ualifications, including professional licenses or certifications (i.e. Curriculum �itae).

�n �xecutive Summary of the proposal should also be provided for ease of reference.

 Scope of �ork The proposing firm or company should respond to all re�uiremen ts outlined in the re�uested scope of work in a comprehensive and clear manner. This should include any information or supplemental material that may clearly outline how the scope of work will be approached and how the team will address all re�uirements specified.

 Proposed Schedule of �ork The proposal should include a schedule of work with proposed timelines for the specified work period of one year. The schedule should include work to be done by key personnel i.e. Partners, Directors, etc., and other team members, the proposed schedule for submission of progress reports, and follow up timelines.

 �eferences of Comparable �ngagements � list of references of similar or comparable engagements should be provided with the proposal. �t least three (�) references should be provided and each reference must be clients retained for a minimum of twelve (��) months. � summary of the pro�ect and client names and contacts should be provided to enable the Bank to contact references if re�uired.

�pplicants must declare any areas that may constitute conflict of interest related to this proposal

�. �ualifications and �xperience of �ey Personnel;

�. �uality of �eferences and Demonstrated �elevant �xperience in the Provision of Compliance Services;

�. �eputation of the �irm or Company;

�. �uality of Preliminary �ork Plan and Schedule; and

�. Pricing and �ee structure.

The Bank reserves the right to evaluate the proposals either by itself and�or in coordination with and�or by engaging any external consultants.

�� Contract �ward

The Bank reserves the right to make no award, make a partial award, make multiple awards, or to award in aggregate or by line item in scope of services as determined by the Bank to be in its best interest, sub�ect to determination that the price proposal is fair, reasonable, and provides the best value to the Bank given the re�uirements of the pro�ect.

�ppointment as a successful contractor shall be sub�ect to the parties agreeing to mutually acceptable contractual terms and conditions. �n the event of the parties failing to reach such agreement, the Bank reserves the right to appoint an alternative service provider.

�� Contract Completion Criteria

�here a contract results from this ��P, such contract will be considered complete when the Bank has approved and accepted all assigned contract deliverables.

�� �nsurance Coverage

The selected contractor is to provide professional liability insurance covering the services described in the contract.

�� Deadline The due date for submission of the tender is ��th �uly, ���� �ate submissions will be returned unopened to the sender. Please send all tenders clearly marked “Compliance Service Proposal” to �mail� careers�bdb.gov.bs

Person� Submit by hand in the tenders’ box at BDB’s reception, add address.

�or any complaints regarding the tenders please refer to the Complaints section on the BD B website.

Photo:Ahn Young-joon/AP

Domino’s signs deal with Uber Eats in a bid to make more dough

By DEE-ANN DURBIN

AP Business Writer

IF YOU can’t beat them, join them.

In a major reversal, Domino’s Pizza said Wednesday it’s partnering with Uber Eats to make deliveries in the U.S. and 27 international markets. While franchisees in a handful of international markets like the Netherlands have been working with third-party apps for years, Domino’s has long said that partnering with delivery companies didn’t make economic sense in its 6,600 U.S. stores.

Under the agreement, uniformed Domino’s drivers will still make the deliveries that customers order via Uber Eats, and Uber Eats will share data with Domino’s on delivery efficiency and incremental

sales. Ann Arbor, Michigan-based Domino’s wouldn’t say what percentage Uber Eats will take from each order.

The partnership will be piloted in four U.S. markets starting this fall and is expected to be available nationwide by the end of 2023, Domino’s said. Uber Eats will Domino’s exclusive U.S. partner until at least 2024.

Domino’s shares jumped 10% in morning trading.

Domino’s had been reluctant to partner with third-party apps in the U.S. because it wanted to control the delivery experience. In 2019, then-CEO Ritch Allison predicted that third-party delivery would eventually collapse because companies were charging too little for the service.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, JEFSTINA BAINCARTWRIGHT of Pine Forest Close Nassau,The Bahamas, P.O. Box, FH 14459. Parent of AARIYAH ANACONI TALIA CARTWRIGHT A minor intend to change my child’s name to MAKAYLA ELEANOR TALIA JOHNSON If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that JOHN ALEX CHARLES of Spanish Wells, Eleuthera, 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 6th day of July, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

But then the pandemic happened. Demand for delivery soared and remained elevated even as COVID waned. Domino’s found itself losing market share to competitors who were available via thirdparty apps.

In the year ending May 28, Uber Eats, DoorDash and other delivery companies accounted for 14% of U.S. pizza sales __ or $4.7 billion __ up from 4% before the pandemic, according to Circana, a market research firm.

Little Caesar’s, the thirdlargest pizza chain in the world, inked a delivery deal with Uber Eats in April.

Russell Weiner __ who took over as Domino’s CEO in 2022 __ said in a statement that third-party delivery operators have reached such a large scale

that it makes sense for Domino’s to partner with them. In the first quarter of this year, Uber Eats’ deliveries grew 12% to $15 billion, excluding the impact of currency fluctations. Domino’s global

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

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

NOTICE

NOTICE is hereby given that SHALANDA BLANC of Spanish Wells, Eleuthera, 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 6th day of July, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

retail sales grew 6% in the same period.

Domino’s has been struggling with higher food costs, labor shortages and increasing competition. The company’s same-store sales __ a key metric of a restaurant’s health __ fell 1% in the U.S. last year, while international same-store sales were flat.

Domino’s said Wednesday that its labor challenges have largely abated over the last year, and it’s confident it will be able to meet increased demand from Uber Eats orders. The company wouldn’t say how many drivers it has in the 28 markets; nearly all Domino’s stores are independently operated by franchisees.

Peter Saleh, a managing director and restaurant analyst with the investment bank BTIG, said

A DOMINO’s Pizza sign hangs above a location in Hialeah, Fla., Oct. 27, 2016. Domino’s Pizza said Wednesday, July 12, 2023, it is partnering with Uber Eats to make deliveries in the U.S. and 27 international markets.

Wednesday that the deal was “the best possible path” for Domino’s, which will still control the delivery experience and access data. He also said the agreement leaves the door open to other partners, including DoorDash. Saleh said he also expects Domino’s will still offer better deals, like its $6.99 Mix and Match menu, on its own website to encourage customers to order directly. But Saleh said consumers are loyal to third-party apps and unlikely to switch.

NOTICE

NOTICE is hereby given that

ALEXANDRIA CATHERIN BOWE of P. O. Box SS-5711, Kite Terrace, Monastery Park, New Providence, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 13th day of July 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that DOMINGO ENRIQUE CARCIA BEATON of SB-50492, South Beach, New Providence, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of July, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JOHN JEAN of Churchill Avenue, 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 6th day of July, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MANICA CAMILLE of Pine Street, Jubilee Gardens, 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 6th day of July, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Photo:Alan Diaz/AP

KIA TO INVEST $200M IN GEORGIA PLANT TO BEGIN BUILDING

ELECTRIC SUV THERE, HIRING

By JEFF AMY Associated Press

KIA Corp. will invest

$200 million in its Georgia factory to begin producing an electric-powered SUV, the company announced Wednesday.

The South Korean company said it would hire an additional 200 workers to begin producing its large EV9 vehicle in West Point by early 2024. The company said it would expand overall production at the plant near the Alabama state line southwest of Atlanta. Kia says the plant currently produces 340,000 vehicles a year, including Telluride, Sorrento and Sportage SUVs and K5 sedans.

Kia has 3,000 employees at the plant. Spokesperson Patrick Sands said the EV9 would be built on the same assembly line as the other vehicles, and Kia was investing to assemble electric powertrains.

Hyundai Motor Group, Kia’s parent, is pushing hard into electric vehicles. Hyundai is sprinting to complete a $5.5 billion plant to assemble electric vehicles and batteries in Ellabell, Georgia, near Savannah. The company also invested $300 million in its Montgomery, Alabama plant to begin making electric vehicles there, starting with the Genesis Electrified GV70 SUV. Hyundai also 200 hired additional workers for that Alabama investment.

Kia leaders said they hoped the EV9, with three rows of seats, would do for company sales what the large Telluride did for the brand once it began rolling off the assembly line in West Point in 2019. Kia began delivering EV9s to customers in South Korea last month.

“Like Telluride, EV9 has the potential to be another change catalyst for Kia,” Sean Yoon, President and CEO of Kia Motors America, said in a statement. “This will be the most innovative vehicle that we have ever built and will be a standout in the EV market and on the road.”

The investment comes even as Georgia Gov. Brian Kemp and Hyundai complain that federal electric vehicle tax credits are unfair to the South Korean manufacturer because its vehicles are only eligible if they are leased. The domestic content standards of the Inflation Reduction Act, which is pumping billions into electric vehicle subsidies, make tax incentives on electric vehicle purchases available only when the

200

vehicle, the battery, and key raw materials in the battery are all made in the United States.

Hyundai has announced it will partner in a battery factory in Cartersville, northwest of Atlanta.

Georgia has been a top beneficiary of a nationwide electric vehicle investment boom, with more than 40 electric vehicle-related projects since 2020 pledging $22.9 billion of investment and 28,600 jobs in the state. Kemp has said he and other Georgia officials should get credit, while Democratic Sen. Jon Ossoff has argued President Joe Biden’s policies are driving the boom.

Georgia will pay to train workers for the Kia expansion. The company says on its website that production workers start with a salary

of $38,000 a year, with pay raises and extra pay for working evening shifts.

Kia could qualify for $1.75 million in state income tax credits, at $1,750 per job over five years, as long as workers make at least $31,300 a year. The company could qualify for other incentives, including property tax breaks from West Point and Troup County.

Kia got more than $450 million in incentives for its plant in West Point, which opened in 2010. West Point’s financial statements show that in 2019, Kia, its affiliates and suppliers were receiving $2.8 million in property tax breaks from the city alone.

NOTICE

STARTING COMPANY LTD.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, STARTING COMPANY LTD. is in dissolution as of July 6th, 2023.

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

NOTICE

SHELLDON LIMITED

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, SHELLDON LIMITED is in dissolution as of July 6th, 2023.

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

AN ELECTRIC battery-powered Kia EV9 sport utility is shown at the New York International Auto Show, April 6, 2023, in New York. Kia Corp. announced on Wednesday, July 12, that it would invest $200 million to assemble the EV9 at its factory in West Point, Ga.

Photo:Ted Shaffrey/AP

A STORY ABOUT A DEADLY TIKTOK BOAT-JUMPING CHALLENGE WENT VIRAL. THEN IT FELL APART

By PHILIP MARCELO AND LEON RAMIREZ Associated Press

AS the July 4 holiday approached, a local news report in Alabama warned of a deadly TikTok challenge that involved jumping from a speeding boat.

“Last six months we have had four drownings that were easily avoidable,” Jim Dennis, captain of the Childersburg Rescue Team, told the local ABC affiliate station in Birmingham, Alabama, in a story that aired July 3. “They were doing a TikTok challenge.”

National and international news outlets snapped up the report, cautioning about the trend. But Alabama’s main public safety agency says while there have been boating fatalities this year, no such deaths have been reported. A spokesperson for TikTok also says no boat jumping challenge is trending on its platform.

Here’s a closer look at the facts.

CLAIM: Four people attempting a viral TikTok challenge have died jumping from moving boats in Alabama recently.

THE FACTS: The Alabama Law Enforcement Agency, which oversees the state’s public safety agencies, tweeted on Monday to dispel the viral rumors.

The agency said its Marine Patrol Division had “no records of boating or marine-related deaths that could be directly linked to TikTok or a trend on TikTok.”

It noted that one person was fatally injured after jumping from a moving boat in 2020 and a similar case happened in 2021, but that neither death was linked to TikTok.

In a follow up email to The Associated Press, the agency provided details about six water-related

deaths marine patrol investigated so far this year. None of the incident reports mentions TikTok or any such challenge.

On July 8, for example, a 79-year-old man drowned after falling off his boat without a life vest while fishing overnight on a river. A day earlier, a 65-year-old man drowned after he got off a pontoon boat to help a dog in a lake.

The other fatalities included a 19-year-old who crashed his jet ski into a tree in May and a man who apparently drowned in January after the vessel he was on struck a bridge and capsized.

People magazine, the New York Post and a number of other major outlets that initially reported on the TikTok challenge deaths have since updated their stories to include the state’s response.

But social media users, in English and in Spanish, are still sharing the claims as accurate. Some even include videos purporting to show the victims.

“Police say at least 4 people have died doing the TikTok boat jumping challenge,” wrote one Twitter user in a widely shared post that included various video clips of people diving off moving boats. “When they jumped out of the boat, they literally broke their neck ... instant death.”

Meanwhile Dennis, the local first responder quoted in the original story, walked back his comments after state officials weighed in this week. He told AL.com, another local news outlet in Alabama, that his remarks during an interview about boating safety were taken out of context, but he maintained that his organization has responded to reports of people who jumped off boats this year.

“It got blown way out of proportion,” said Dennis, who didn’t respond to requests for additional comment this week.

The ABC affiliate in Birmingham also declined to comment, but in a story Monday about the state’s response, the station included Dennis’ full, unedited interview.

Ben Rathe, a spokesperson for TikTok, stressed “boat jumping” has never trended on platform, echoing a statement the company’s office in Mexico City previously provided in Spanish.

TikTok also said it does not comment on things that are “not part (of the platform) / are not trending on the platform.”

Like other social media companies, TikTok has seen any number of “challenges” go viral over the years, from the potentiallyhazardous and destructive to the outright criminal and deadly.

Elizabeth Losh, an American Studies professor at William & Mary, a university in Williamsburg, Virginia, who has studied TikTok trends, confirmed some posts featuring people jumping off boats are visible on the site -- including one from 2019 with the hashtag #boatjumpchallenge -- but don’t appear to be particularly viral or widespread.

She also noted TikTok has placed warning labels over some of the posts.

The social network’s community guidelines prohibit users from showing or promoting “ dangerous activities and challenges,” which includes “dares, games, tricks, inappropriate use of dangerous tools, eating substances that are harmful to one’s health, or similar activities that may lead to significant physical harm.”

THE TIKTOK app logo appears in Tokyo, on Sept. 28, 2020. News outlets are warning of a deadly TikTok challenge that involves people jumping off speeding boats however, the Alabama Law Enforcement Agency told The Associated Press it has investigated six boating and marine-related deaths this year and none were tied to TikTok trends. The social media company also said it has seen no such challenge on its platform.

Photo:Kiichiro Sato/AP