THURSDAY, AUGUST 11, 2016
business@tribunemedia.net
‘No contributions or co-payments’ for NHI primary care By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net THE BENEFITS included under the first stage of National Health Insurance (NHI), primary care, have been outlined in a “policy paper” released yesterday, along with other details of the health care scheme in the first comprehensive overview of the initiative. As noted in the policy paper, entitled ‘Building a Healthier Bahamas’, NHI will be implemented in stages
Govt reveals benefits in first phase of health care scheme $100m annual cost at implementation phase Extra $24m cost for select specialised care
with coverage beginning with primary care. “Coverage will begin at the primary health care level, meaning the outpatient, first level of care that focuses on prevention, and addresses and co-ordinates health needs,” according to the policy paper. The initial benefits covered by NHI Bahamas will include primary health care services at approved health care providers, such as newborn care, care for those with chronic diseases, care integration, counselling, home See pg b3
NHI will stem out of country spending on health says Gomez By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net
Minister of Health Dr Perry Gomez
HEALTH Minister Dr Perry Gomez said yesterday that with approximately $80m being spent annually on health care outside the Bahamas, the introduction of National Health Insurance (NHI) and modernisation of the public health care system should help to curb some of that outflow and allow local health care providers to benefit. During the debate on the National Health Insurance Bill yesterday, Dr Gomez noted that more than 200,000 Bahamians are without health insurance. The NHI Bill was tabled in Parliament last week, with several stakeholders expressing disappointment that the revised Bill had still not addressed
Crawfish season “promising” thanks to Defence Force By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net ALTHOUGH it is only 11 days into the 2016/2017 crawfish season, preliminary indications suggest that “things are looking promising”, according to Bahamas Commercial Fishers Alliance (BCFA) vicepresident Keith Carroll. Mr Carroll said that while a true indication of the season’s potential yield would not likely be known until the end of the month, early reports suggest that the season is shaping up to be better than last year. He credited this to Defence Force patrols during the offseason. The crawfish season opened on August 1 and runs to March 31, 2017. The BCFA has long voiced concerns over poaching by foreign fishermen, primarily Dominicans, particularly during the closed period. However Mr Caroll believes that the addition of new vessels to the Defence Force’s fleet has helped to put a dent in the poaching practice. Last month RBDF marines were involved in a shootout and subsequent high-speed chase with suspected Dominican poachers in the Cay Lobos area. “I really think that because of the work the Defence Force, especially what they were doing when the season was closed, has helped local fishermen, especially the boats down south. Based on what I’m hearing, the boats that usually have trouble to the
BCFA executive hails offseason protection Long Island fleet back on the fish after hurricane south, they are reporting that things are way better than last year and it’s a result of the Defence Force beefing up their patrols. The fishermen are grateful for that,” said Mr Carroll. “Things are looking promising, especially for the guys from Long Island whose boats were on land See pg b3
$3.94 $3.95 $3.98
$3.98
Public reassured they can still use private schemes Minister hails “significant improvement” of Bill some outstanding concerns and had not been shown to them before it was tabled. Dr Gomez said that more than 80 changes had been made to the draft Bill, telling Parliament yesterday that the revised Bill represented a significant improvement over the draft. Dr Gomez noted that while many persons assume that under NHI they will be See pg b3
Sandals Royal Bahamian resort
Union chief claims “historic” legal move over Sandals closure By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net THE 500 and more employees of Sandals Royal Bahamian were yesterday urged by their union representatives to exercise patience as “the law of the land will vindicate them” while blasting the resort for failing to address employees on an impending two-month closure. The Bahamas Hotel Maintenance and Allied Workers Union (BHMAWU), which falls under the Trade Union Congress (TUC) umbrella, has since 2009 been seeking to negotiate an industrial agreement. Yesterday, Sandals Royal Bahamian general manager Gary Williams and the resort’s financial controller Ronnie
Two executives face charges of failing to negotiate Employees still have not heard about plans to shut Cable Beach resort to close for two months from August 15 Mirza both appeared in a magistrate’s court for failing to negotiate with the union, unlawfully terminating several union executives and intimidating union executives. The men pleaded not See pg b4
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Thursday, August 11, 2016, PAGE 3
KRyS Global retains digital forensics expert Sanaghan KRYS Global, an international fraud investigation and dispute resolution firm with offices in eight global locations, has retained Jacqui Sanaghan to manage its Forensic Technology Services team. Ms Sanaghan specialises in digital forensics and edisclosure and will be responsible for driving new client engagements across
the offshore sector. Kevin Haywood Crouch, KRyS Global Head of Forensics and Consulting, said “We are excited to utilise Jacqui’s varied global forensic technology skills, including her previous experience of working throughout the Caribbean, as well as her diverse knowledge across many sectors. Jacqui’s addition
‘No contributions or co-payments’ for NHI primary care From pg B1 care and population health services addressing the social and other determinants of health. The policy paper states that primary care will also include primary health care diagnostic, laboratory and other medical services, such as testing of blood sugar and cholesterol levels; personal preventative services, such as vaccines for children, scheduled preventative health visits, general screening for breast cancer or heart problems, and counselling and prevention of obesity, tobacco use or skin cancer; many primary health care prescription medications; and health education and promotion, for example: monitoring and promoting nutrition and hygiene amongst children and young adults. “There will be no contributions or co-payments
required to receive primary health care during the initial rollout of services under NHI Bahamas,” the policy paper states. “During the initial service-delivery phase, these services will be publicly funded from the Government’s central budget, as described in more detail below. During this stage, the Government wants individuals to experience the changes and improvements in accessing the health care system. This is a deliberate approach, allowing the population to gain confidence in the access to health care services and to provide valuable feedback on the reforms. “Additionally, implementing NHI Bahamas in stages will allow the Government to properly assess initial utilisation rates, actual costs of service delivery and the evolving health care needs of the population.”
to the forensic technology team will undoubtedly strengthen our existing client offerings.” Prior to joining KRyS Global, Ms Sanaghan was primarily based in London, where she led collection, processing, review and production elements for a variety of small and large scale international engagements related to litigation, arbi-
tration and investigations. Her extensive experience in forensic technology and data handling services, includes multi-jurisdictional financial services investigations in Europe and the Caribbean, which included in some instances addressing compliance with data privacy requirements and reporting to agencies like the Inland Revenue Service
The introduction of primary healthcare was slated for April but, in late March, Health Minister Dr Perry Gomez acknowledged that there would be a delay so the Government could establish a public insurer. As to the funding for the first stage the policy paper notes: “For the primary care stage of NHI Bahamas, the Government will manage finances so as to compensate providers through a National Health Insurance Fund (“NHI Fund”), financed through the Government’s consolidated fund. This stage of implementation will cost the Government approximately $100 million annually. Money will follow the patient and be linked directly to the care given, leveraging outcomes-based compensation models, such as “pay for performance” and other evidence-based arrangements. It is proposed that an additional, approximately $24 million a year will be reserved for coverage of selected highcost specialised care. These initial costs will be paid by the Government as a trans-
fer to the National Health Insurance Authority.” It adds: “The legislative and regulatory framework for NHI Bahamas will also establish the NHI Fund to ensure full transparency and accountability. The NHI Authority will compensate approved insurers. Insurers, in turn, will compensate health care providers. As coverage and benefits expand under NHI Bahamas, funding will be supplemented by other sources. These may include a reallocation of the national health budget, new or supplemental broad-based taxation measures, dedicated funding streams and/or contributions. Regardless of an ability to pay, equitable access will be provided under NHI Bahamas.”
NHI will stem out of country Crawfish spending on health says Gomez season “promising” From pg B1 said Dr Gomez. Dr Gomez noted that it is thanks to required to go to a public estimated that primary care health facility that will not under NHI will cost about Defence be the case. $100m per year. “This “NHI will allow mem- amount would be adjusted Force bers to receive their care each year to reflect the inFrom pg B1
after the hurricane and had no work since October. They seem to be doing well. What I’m hearing right now is that the fishermen are doing way better than previous years.” On Da Hook weekly fishing review, see News section page 19
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from public as well as private sector doctors, laboratories, pharmacies that have become registered NHI providers. The ability to access health are services in both public and private facilities is one of the key feature of the NHI plan,”
crease to the benefits package, the impact of inflation, as well as changes in the demand for health services,” he said. That money, he noted, will be transferred to the National Health Insurance Authority through the Consolidated Fund.
NOTICE
The following customer is kindly asked to urgently contact DAVIS TRANSMISSION at telephone number 242-393-6773, regarding your vehicle, which has been completed. Henry Butler - White Double Cab Chevy Silverado Truck, License #T264 Kindly note that failure to contact us and to collect your vehicle within the next 30 days, i.e. September 8, 2016, will result in the vehicle being sold at a public auction to settle your account with us.
and Department of Justice. She has preeminent knowledge devising and adapting bespoke workflows in line with the EDRM cycle and current industry standards and has in-depth hands on experience and advanced knowledge of a number of industry tools, including Clearwell and Relativity.
KRyS Global’s Forensic Technology Services, include data mining and analytics, computer forensics, electronic discovery and hosted litigation solutions which can be provided in isolation or as part of a complete service in conjunction with the other service lines KRyS Global offers in all jurisdictions.
Riviere-Smith resigns as URCA CEO THE Board of the Utilities Regulation and Competition Authority (URCA) announced yesterday the resignation of Kathleen Riviere-Smith as Chief Executive Officer effective August 31. Mrs Riviere-Smith’s resignation follows 16 years of service, nine of which were with URCA’s predecessor, the Public Utilities Commission (PUC). The Board has appointed Director Stephen Bereaux
as acting CEO effective September 1. Mrs Riviere-Smith joined the PUC as Financial Analyst and worked her way through the ranks as Senior Case Officer, Director of Policy and Regulation and finally as CEO of URCA. The Board yesterday thanked Mrs Riviere-Smith for her years of dedication, commitment and leadership and wished her well in her future endeavours.
PRIME COMMERCIAL lot of land located on Windermere Road off East Bay Street adjacent to Red Carpet Inn and the UBS Bank building contains approximately 31,000 square feet. Portion of property presently used as a parking lot and is income producing. Inquiries should be directed to J. Albury at 324-7856 (H) or 424-2624 (Cell)
PAGE 4, Thursday, August 11, 2016
Union chief claims “historic” legal move over Sandals closure From pg B1 guilty and were each granted $5,000 bail with one surety. TUC president Obie Ferguson called yesterday’s proceedings “historic”. “It is a very special and historic day for the workers of this country,” he said. “What this shows the Bahamas is that the multi-national and trans-national corporations that come to this country do not dictate to us. I want to say to the workers of Sandals to relax, the law of the land will vindicate them at the end of the day.” Mr Ferguson again slammed the resort for its abrupt closure notice, noting that it was just days before the back-to-school period. It is understood that the allinclusive Cable Beach property will be closing its doors on August 15 with plans to re-open on October 13; however union executives said yesterday that Sandals had still not met with them or spoken to the employees regarding the closure. In a recent letter from Gary Sadler, Unique Vacations’ senior vice-president of sales, which was seen by Tribune Business, the resort blamed “circumstances” beyond its control for the pending closure and offered
affected guests a chance to re-book their stays with any of the resort chain’s properties throughout the Caribbean. The letter read: “We appreciate your patience as we work through this challenging time. We have instituted a streamlined and efficient course of action for these guests who may be affected and are extending all of our call centre resources to you.” Donnell Ferguson, president of the BHMAWU, said yesterday that Sandals’ by its actions had disrespected the Bahamian government and the union. “Justice will prevail. The union is working around the clock along with our advisors for the employee’s benefit. They have to just hold on, help is on the way,” she said. “Sandals has not spoken to the union about what is happening. No worker to this day knows anything, not a word. Clearly it was a deliberate act to divert the guests so as to lower the occupancy levels so that they could go to the government and say that they have to lay off works. We have not heard anything form the government since this story broke.”
Court overturns ruling allowing municipal broadband to grow MEMPHIS, Tenn. (AP) — A federal appeals court on Wednesday overturned a Federal Communications Commission ruling allowing city-owned broadband services to expand into areas overlooked by commercial providers. The decision comes as part of a dispute between the FCC and two states, Tennessee and North Carolina, about expanding superfast internet service in their respective cities of Chattanooga and Wilson to surrounding areas. Both states had passed laws preventing such expansion. The FCC last year voted 3-2 to override those laws. The states then asked the 6th Circuit Court of Appeals to review the FCC’s ruling. The appeals court said that the FCC’s order preempted the state laws and “the allocation of power between a state and its subdivisions.” The court said the FCC’s action requires a “clear statement” of authority in federal law, but the law does not contain a clear statement authorizing pre-
emption of Tennessee’s and North Carolina’s laws. State lawmakers have argued that private broadband providers will have difficulty competing with service subsidized by local governments. Attorneys for Tennessee and North Carolina had argued the issue is one of state sovereignty. In a statement, FCC Chairman Tom Wheeler said the commission is reviewing the ruling. It is not clear if the FCC will appeal. Wheeler said the ruling “appears to halt the promise of jobs, investment and opportunity that community broadband has provided in Tennessee and North Carolina.” He said the FCC has a mandate to make sure that people have access to the best possible broadband. “The efforts of communities wanting better broadband should not be thwarted by the political power of those who, by protecting their monopoly, have failed to deliver acceptable service at an acceptable price,” Wheeler said. Tennessee Attorney General Herbert H. Slatery III
EMPLOYMENT OPPORTUNITY
OPERATIONS COORDINATOR Comfort Suites Paradise Island invites qualified persons to apply for the position of Operations Coordinator.
Job Summary
Provides administrative support to the Assistant General Manager and Business Process Manager along with all departments that fall under the umbrella of the Operations Department.
Duties and Responsibilities: • • • •
said in a statement that he was pleased with the ruling. The case was not about access to broadband, but instead it was about preventing the federal government from exercising power over the states that it does not have, Slatery said. “Today’s decision preserves Tennessee’s right to determine the authority and market area of a political subdivision organized under Tennessee law,” Slatery said. Chattanooga markets itself as the “Gig City” for the widespread availability of gigabit-speed internet service. Such service is about 50 times the national broadband average — or enough bandwidth to download an entire movie in about two minutes. Chattanooga’s utility provider, EPB, said in a statement that Tennessee has a “broadband gap” that is a problem for its residents. A survey of Tennessee residents and businesses by the state Department of Economic and Community Development found that about 13 percent do not have ac-
cess to broadband internet service. EPB and other municipal broadband providers had refrained from delivering services to a wider area while the appeal was pending. “We will continue to work with the growing number of state legislators and grass-roots citizens interested in removing the barriers that prevent EPB and other municipal providers from serving our neighbors in surrounding areas who have little or no access to broadband,” said David Wade, president of EPB. The appeals court said its ruling was a limited one, and it does not address other issues debated in the case, including whether the FCC has any pre-emptive power at all under the Telecommunications Act of 1996. “We do not question the public benefits that the FCC identifies in permitting municipalities to expand Gigabit Internet coverage,” the ruling said.
Uber files complaint with EU against Hungary BUDAPEST, Hungary (AP) — Ride-hailing app Uber filed a complaint on Wednesday with the European Commission against Hungary, where legislation came into force in July practically banning the service. Rob Khazzam, Uber’s general manager for Central Europe, told The Associated Press that the company’s aim was to return the service to Budapest, where it began operations in late 2014. Uber had 160,000 users and 1,200 drivers in Hungary. “We want to bring back a service that has been embraced by so many people,” Khazzam said. “We want to ensure that people in Hungary have access to a service that is available in almost all other European Union countries.” Legislation approved by parliament in June and en-
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Assist with the day to day responsibilities of the Assistant General Manager’s office. Assist with the day to day responsibilities of the Business Process Manager’s office. Assist with clerical responsibilities with each department that falls under Operations Assist with Medallia and Tripadvisor responses. Assist with the coordination of Messenger service for all departments.
Position Requirements:
Three or more years experience in the administrative field required. Experience in the hotel industry will be a plus. Competitive salary and benefits package are commensurate with experience. Interested persons should apply in writing via e-mail address:
jmcdonald@comfortsuitespi.com
forced from July 24 allows authorities to fine Uber and similar services, block their websites and apps, ban the cars of drivers for up to three years and suspend their licenses for six months. The government denied banning Uber, saying that the company itself decided to leave the country. “We are ready to undergo any ‘examination,’” government spokesman Zoltan Kovacs said regarding Uber’s complaint. “We only asked one thing of Uber — to respect the rules which apply to everyone in Hungary.” Uber suspended its activities in Hungary indefinitely at noon on July 24, offering regular users a farewell gift of one free trip in any of the 21 European countries where it is available. Hungary claimed the company gained a competi-
tive advantage by ignoring rules that apply to taxi services. “Uber’s decision indicates that the company is not willing to engage in fair market competition and legal operations,” the government said in July, while Uber said that its drivers were abiding by the rules. Uber said earlier that Hungarian authorities, who insisted they welcomed innovation, were unwilling to engage in substantial talks about finding a way for Uber to remain in Hungary. At the same time, transport officials held several meetings with representatives of taxi companies and drivers, mostly after taxi drivers held protests slowing traffic and blocking bridges across the Danube River in downtown Budapest.
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Thursday, August 11, 2016, PAGE 5
Looking to land a big account? Skip drinks, try sweatworking FORT LAUDERDALE, Fla. (AP) — For years, business networking has meant after-work drinks or a shared meal. Now, for some, it’s all about grabbing a pair of running shoes and bonding over a fitness class, thanks to sweatworking. Gyms and fitness studios say they’re seeing an uptick in the number of business clients booking classes with investors or employees, finding that workouts offer a chance to connect over a shared challenge in a less buttoned-up environment, potentially making it easier to strike a deal. Sarah Wragge, 34, a partner at a New York production company that makes TV commercials, takes clients to a dance cardio class where they don’t talk even talk about business. “It’s literally just time to develop a relationship and achieve a common goal ... I find that sweatworking is a much more empowering and collaborative experience,” Wragge said. Indie Fresh CEO Shom Chowdhury, 42, said he landed his biggest investor after bringing him to a workout at Barry’s Bootcamp in New York. Chowd-
hury, who founded the healthy meal service, says a workout is a good setup for his products. After class, he gives potential clients or investors one of his protein shakes or sends them home with a meal plan. “Just from one experience, I noticed that people really got it without me having to talk too much about it,” Chowdhury said. Some employees say they, too, have used sweatworking to their professional advantage: Andre Lattibeaudiere was working as a financial officer for a South Florida hotel earlier this year when his boss, who is an avid runner, came to town and wanted to find a local running group. Lattibeaudiere, 43, who is also a runner, realized it was a prime opportunity to connect with his boss outside the office and offered to join him at the Westin Fort Lauderdale Beach Resort’s weekly run club. Lattibeaudiere became a regular at the runs. Of the 60 to 70 people that typically participate, Lattibeaudiere said he often found himself running with the Westin’s general manager. The two bounced ideas off
each other while also pushing each other to run faster. Lattibeaudiere wasn’t looking to change jobs, but was asked to apply for and ultimately hired as the Westin’s finance director. The runs were like informal interviews, he said. “It made it very easy for me to apply for the position ... I met someone that I could potentially be reporting to and I developed this relationship and I realized we shared a lot of common core values,” said Lattibeaudiere, who was hired in June. Both mega gym chains and boutique studios said they’ve seen increases in sweatworking. Some are drawn to the competition and extreme workout classes with timed events or partner exercises like relay races. Others prefer yoga or relaxation classes. “It’s like ... me-time (for) whoever you bring with you, a potential client, and then afterward they’re much more ready to talk to you because you’ve done something special for them, for their body, for their psyche ... whatever’s coming next they’re usually within the moment, they’re
much more receptive,” said Donna Cyrus, a senior vice president at Crunch. Wragge said sweatworking helped her land clients in the beauty world — a segment that had previously eluded her. “These are fashionable women, they don’t have a lot of time, they tend to be a little bit more regimented
about their diet and exercise. After trying and trying to connect with them over lunch, I suggested a SoulCycle class and sure enough one client turns into five clients turns into 15 clients.” Chowdhury, who also pays for employees to work out with him every Friday, said he was so impressed by an employee that worked
out with him that he ultimately promoted her. “It makes the leaders and the team members have an equal platform ... rather than just my boss tells me to do xyz and it becomes a very hierarchal relationship,” he said. “The classes allow you to sweat together, train together, mess up together.”
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Courting coal country, Trump vows to put miners back to work ABINGDON, Va. (AP) — Donald Trump sat down with coal miners Wednesday and promised to put them back to work, seeking to strengthen his appeal in parts of the country hit hard by the natural gas boom and the shift away from dirtier fossil fuels. A day after sparking a fresh and unwanted campaign controversy with comments about the Second Amendment, Trump appeared subdued — almost professorial, at times — during a pair of events in rural Virginia. Accusing Democrat Hillary Clinton of wanting to close coal mines, he quizzed a group of mining executives and foremen about whether government rules were choking their industry. “You’ve been put in an impossible position, as far as mines are concerned,” Trump said, with little of the bombast his supporters have come to expect. In a nod to environmental concerns that Clinton has been voicing, Trump added: “We want clean water. We want clear air, obviously. We also want jobs.” Trump’s intimate discussion with miners at an industrial garage near the Tennessee border was a rare departure from the massive rallies and speeches that have characterized his campaign. He returned to
Republican presidential candidate Donald Trump holds a sign during a campaign rally, yesterday, in Abingdon, Va. (AP Photo) the rally setting shortly after in nearby Abingdon and lamented that coal workers don’t vote in larger numbers. “You just don’t vote. I think it’s because you’ve
been beaten so badly as an industry,” Trump said. But, he said, “you have absolutely nothing to lose.” It’s an issue resonating deeply among voters in
some of the most competitive states in the election, including Virginia and Pennsylvania, where dependence on the energy industry runs high. In recent years, scores
of jobs have been lost due to the low cost of natural gas and declining demand for fuels like coal that pump large amounts of heat-trapping greenhouse gases into the
air. Clinton, who has been criticized for saying the U.S. will shutter coal mines, has tried to shift her focus to helping workers adjust to the industry’s decline by finding new ways to make a living. At the same time, she’s emphasized the need to address climate change aggressively, a priority that Trump has rejected. Trump’s low-key appearances in Virginia came the day after he faced an uproar for suggesting in a North Carolina rally that gun-rights enthusiasts might find a way to stop Clinton if she’s elected, a remark that Democrats said encouraged violence against the Democratic nominee. Clinton, campaigning in Iowa on Wednesday, said Trump had crossed the line with “casual inciting of violence.” “Every single one of these incidents shows us that Donald Trump simply does not have the temperament to be president and commander in chief,” she said. Trump didn’t mention the controversy directly in his appearances Wednesday, but he did launch a concerted attack against Clinton running mate Tim Kaine in the Virginia senator’s home state. Trump criticized Kaine’s record on taxes and the Virginia economy while arguing that Kaine would hurt Clinton’s election prospects rather than help them.
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US employers advertised more jobs and boosted hiring in June WASHINGTON (AP) — U.S. employers advertised more openings and hired more people in June, adding to evidence that the job market has rebounded from a brief soft patch in the spring. The number of job openings rose a modest 2 percent to 5.6 million in June from 5.5 million in May, the Labor Department said Wednesday. Still, that figure remains below the 5.8 million openings advertised in April, the highest on records going back 16 years. Hiring increased 1.7 percent in June to 5.1 million, a solid level but below a recent peak of 5.5 million in February. Businesses are hiring at a healthy pace even as economic growth has lagged, in part because the workforce has become less productive. The economy expanded at an annual rate of just 1 percent in the first half of the year, though analysts expect growth to accelerate to about a 3 percent annual rate in the current July-September quarter. Still, with more Americans earning paychecks, spending and growth could strengthen in coming months. The pace of job openings has leveled off this year, though at a healthy level. Most economists aren’t concerned by the trend. “We see no sign of any downturn, suggesting employers remain fundamentally bullish,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, a forecasting firm. The figures released Wednesday provide a more detailed reading of the job market than the govern-
ment’s monthly employment report contains. The government previously reported that U.S. employers added a net total of 292,000 jobs in June, the most in eight months. Hiring was also strong in July, when a net total of 255,000 jobs were added, the government said Friday. The unemployment rate remained at a low 4.9 percent. Wednesday’s figures track gross hiring in June, as well as job openings, and come from a report known as the Job Openings and Labor
Turnover survey, or JOLTS. The monthly jobs report that was released Friday calculated a net total of job gains in July after subtracting those who quit, retired or were laid off. The job market’s health is a key factor in the Federal Reserve’s deliberations over when it will next raise the short-term interest rate it controls. Fed officials noted after their most recent meeting in July that hiring has picked up and that the number of people seeking work has fallen.
IBM Bahamas Limited
BAHAMAS COUNTRY LEADER JOB SUMMARY Responsible for managing the sales efforts of all professionals engaged in the selling of IBM products financing and services within a unit. Responsible for customer satisfaction, overall territory management and control of business objectives. May manage other managers. Provides leadership and guidance to staff to ensure that business objectives and customer requirements are met. Discharges the basic management responsibilities and assumes additional responsibilities as assigned. KEY COMPETENCIES • Professional knowledge of function, and business unit or division operations. Understands organizational resources, priorities, needs and policies. • Frequently interfaces with functional management and executives. Develops rapport and establishes communication with top level and/ or potential customer executives; negotiates issues/ solutions to positively meet customer requirements. • Anticipates potential problems and future trends. Analyzes complex/ new situations, assess opportunities, impacts and risks. Develops and implements solutions. • Accountable for the unit’s quota, expense and revenue objectives. Achieves and maintains a high level of customer satisfaction. Ensures identification of IBM’s business opportunities; develops effective marketing strategies. Maintains awareness of competitive activity, understands prospect/customer selection criteria and leads customers to sound decisions. Drives results through the leadership of multi functional teams. Direct budget control for a large function. Activities are subject to business measurements and impact customer satisfaction, as well as function, business unit costs and expenses REQUIREMENTS • A minimum of 10 years’ experience in Sales Management • Strong leadership, organizational and decision-making skills. • Excellent written and oral communications skills • Ability to lead multi-functional teams and conducts special projects • Sales and Management experience in global or multinational organizations • MINIMUM EDUCATION LEVEL • Bachelor’s Degree in Marketing or Management Studies or the equivalent. REMUNERATRION A competitive compensation package Qualified persons are invited to submit their applications before August 31, 2016 to ibm@tt.ibm.com We thank all interested applicants, however, only suitable persons short-listed for interviews will be contacted.
Thursday, August 11, 2016, PAGE 7 Claudia Caballero, district manager for Aldi, left, talks with job applicant Raisa Rickie at a job fair in Miami Lakes, Fla. Yesterday, the Labor Department reports on job openings and labor turnover for June. (AP Photo)
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Former aide in text: Christie ‘flat out lied’ in bridge case
New Jersey Gov. Chris Christie reacts to a question during a news conference in Trenton, N.J., A former aide to Christie texted to a colleague that the New Jersey governor “flat out lied” during the news conference about the George Washington Bridge lane-closing scandal, according to a new court filing. (AP Photo)
NEWARK, N.J. (AP) — A former aide to Gov. Chris Christie texted to a colleague during a news conference about the George Washington Bridge laneclosing scandal that Christie “flat out lied” when he denied his senior staff and campaign manager were involved, according to a new court filing. A transcript of the text is contained in court filings submitted late Tuesday by attorneys representing Bill Baroni, who faces trial in federal court next month with Christie’s ex-deputy chief of staff, Bridget Kelly. They are accused of orchestrating the September 2013 closing of access lanes to the bridge to create traffic jams in the city of Fort Lee to punish its Democratic mayor for not endorsing the Republican governor, prosecutors say. Christie on Wednesday denied that he lied. “I absolutely dispute it. It’s ridiculous. It’s nothing new,” Christie told reporters in New York City after cohosting a sports talk radio show Wednesday morning.
“There’s nothing new to talk about.” He also noted that the information came from a filing from a defense lawyer and wasn’t from someone who was under oath. Christie, who is advising GOP presidential nominee Donald Trump, wasn’t charged in the lane-closing scandal and has denied knowing anything about it. The new revelations could shed more light on who in the upper echelons of Christie’s administration knew about the lane closures and when, a theme defense attorneys are expected to make central during the trial. In Tuesday’s filing, attorney Michael Baldassare hinted there are many more texts still to be revealed. Defense attorneys also have subpoenaed the cellphones and personal electronic devices of Christie and several top aides, though a judge likely will have to rule on whether they have to produce them. The text exchange between Christina Renna, Christie’s then-director of intergovernmental affairs,
Legal Notice
NOTICE
NOTICE IS HEREBY GIVEN as follows: (a) CACUPé OVERSEAS LIMITED is in dissolution under the provisions of the International Business Companies Act 2000 (b) The Dissolution of said Company commenced on August 10, 2016 when its Articles of Dissolution were submitted and registered by the Registrar General. (c) The Liquidator of the said company is Zakrit Services Ltd. of 2nd Terrace West, Centreville, Nassau, Bahamas. (d) All persons having Claims against the above-named Company are required on or before September 8, 2016 to send their names and addresses and particulars of their debts or claims to the Liquidator of the company or, in default thereof, they may be excluded from the benefit of any distribution made before such debts are proved. AUGUST 11, 2016 ZAKRIT SERVICES LTD. LIQUIDATOR OF THE ABOVE-NAMED COMPANY
and Peter Sheridan, a staffer on his re-election campaign, came while Christie was telling reporters at a December 2013 news conference that no one in his office was involved in the lane closings. Renna texted Sheridan that Christie “flat out lied” when he said his senior staff and campaign manager Bill Stepien weren’t involved. According to the court filing, Sheridan texted Renna to say Christie was “doing fine. Holding his own up there.” Renna responds with, “Yes. But he lied. And if emails are found with the subpoena or (campaign) emails are uncovered in discovery if it comes to that it could be bad.” At a January 2014 news conference during which Christie announced he had fired Kelly, he described asking each of his staffers a month earlier, before the news conference, if they knew anything about the closures. He said he was “heartbroken” to learn Kelly had betrayed his trust and called her actions “stupid” and “deceitful.” Stepien’s lawyer, Kevin Marino, on Wednesday called the notion Stepien was involved “categorically false and irresponsible.” Renna’s attorney, Henry Klingeman, said Wednesday his client “will answer questions publicly when she testifies at the upcoming trial, not before.” Stepien was Renna’s boss when she joined the office of intergovernmental affairs in 2010, Renna told a legislative committee in 2014. Christie’s ex-deputy chief of staff, Bridget Kelly, eventually took over for Stepien. The office was responsible for outreach to county and local officials. Christie cut ties with Stepien in January 2014 after a separate nearly two-hour news conference in which the governor apologized for the lane closures but denied any knowledge of them or a cover-up.
CAREER OPPORTUNITY Fidelity is seeking persons with strong leadership, communications and interpersonal skills for the position of:
Fraud and Compliance Representative Main Duties & Responsibilities: • Ensure Cards obligations/requirements pertaining to contracts and agreements with vendors and associates are met and fully satisfied. • Monitor and review the entire cardholder and merchant acquisition process and all aspects of the cardholder application including but not limited to: content, approvals, credit line, KYC and also declined and closed applications. • Monitor and audit cardholder and merchant files and storage, inventory as well as information access via email/card-site/Support-Suite and information leaks which may invoke fraud. • Liaise with customers, other banks, compliance departments and Supervisor where necessary on compliance matters. • Undertake, train and educate branch staff/customers on best-practice techniques for card handling and usage as well as the security features and benefits.
Requirements / Qualifications: • First Degree from recognized tertiary institution or a minimum of a tertiary diploma
• Law enforcement background, collections or compliance experience is an asset • A sound knowledge of telephone and e-mail etiquette • Excellent interpersonal and customer service skills with ability to work in a team environment • Basic computer knowledge/technological skills - the person should be adept in using search tools, browsers and also email features; attaching files to correspondence, utilizing tracking and management features • Ability to communicate effectively both orally and written • Ability to treat people with respect under all circumstances, instill trust in others besides upholding the values of the organization • Sound judgmental powers; ability to manage difficult customer situations, to respond promptly to the needs of the customer, solicit feedback to improve service, respond to requests for service/assistance HUMAN RESOURCES Re: Fraud and Compliance Rep. careers@fidelitybahamas.com
Security Supervisor
Prime Responsibilities and Duties are: • Oversee the proper reporting and documentation of all incidents. • Act as focal point for any investigations involving guests and employees, prepare accurate reports and follow up action plans. • Take the lead on all incidents and emergencies. • Monitoring of camera system and schedule patrolling of grounds. • Assist with the smooth and efficient running of the organization. Qualifications & Experience Required: • Three or more years in the security or military (RBDF & RBPF) field. • Three or more years supervisory experience • Excellent leadership and communication skills. • Must be computer literate with strong administrative skills.
Security Officer
• Experience in similar or related position is an asset
PLEASE SUBMIT BEFORE August 19th, 2016 to:
Career opportunities are available for ambitious career-oriented individuals at a mid size hotel. We are inviting experienced persons to apply for the following positions:
ABSOLUTELY NO PHONE CALLS
A competitive compensation package will be commensurate with relevant experience and qualification. Fidelity appreciates your interest, however, only those applicants short listed will be contacted.
Prime Responsibilities and Duties are: • Assist with any investigations involving guests and employees, prepare accurate reports and follow up action plans. • Ensure that any criminal activity does not hamper the smooth functioning of the hotel. • Assist with and ensure the accuracy of all industrial accident reports. • Take the lead on all incidents and emergencies. • Assist with the monitoring of camera system and scheduled patrolling of grounds. • Assist with the smooth and efficient running of the organization. Qualifications & Experience Required: • Two or more years in the security or military (RBDF & RBPF) field. • Excellent leadership and communication skills. • The ability and interpersonal skills to relate with internal and external customers. • Ability to work as part of a team, as well as independently. • Must be computer literate with strong administrative skills. Competitive salary and benefits package are commensurate with experience. Interested persons should submit their resumes via e-mail to
recruitment.humanresources@outlook.com
THE TRIBUNE
Thursday, August 11, 2016, PAGE 11
Global stocks ease back after earnings-driven gains SEOUL, South Korea (AP) — Global stocks mostly fell Wednesday, amid quiet summer trading and questions about the sustainability of some indexes’ rise to record highs. KEEPING SCORE: Britain’s FTSE 100 was down 0.2 percent at 6,836 while France’s CAC 40 dipped 0.3 percent to 4,454. Germany’s DAX fell 0.5 percent to 10,642. Futures augured a lukewarm opening on Wall Streets. Dow futures were flat and S&P futures edged up 0.1 percent. ANALYST’S TAKE: “It’s a slow grind in markets at present, which will please many in the investment community but frustrate the day traders out there,” Chris Weston, chief market strategist at IG in Melbourne, Australia, said in a daily commentary. Weston said while traders are watching the moves of the dollar, oil and interest rates, they “are not at levels likely to cause any real anxiety in broader risk sentiment.” US RECORDS: Investors have been watching U.S. markets, where the three major stock indexes hit record highs on Friday. The Nasdaq on Tuesday hit another high. Part of the reason is that corporate earnings, most of which have now been reported, seem to have been relatively good for the second quarter. Looking ahead, investors will keep an eye on U.S. retail sales figures due later in the week. ASIA’S DAY: Earlier, Japan’s Nikkei 225 lost 0.2 percent to 16,735.12 despite a report showing private sector machinery orders rebounded in June from May. Hong Kong’s Hang Seng edged up 0.1 percent to 22,492.43. Australia’s S&P ASX 200 fell 0.2 percent to 5,543.70. South Korea’s Kospi added less than 0.1 percent to 2,044.64. Stocks in Taiwan and Singapore also were higher, but markets in China, Indonesia and New Zealand declined. OIL: Benchmark U.S. crude fell 32 cents to $42.47 per barrel in New York. The contract fell 25 cents on Tuesday, ending a rally after the U.S. government raised the forecast on domestic crude production. Brent crude, used to price international oils, lost 17 cents at $44.81 per barrel in London. CURRENCIES: The dollar fell to 101.19 yen from 101.94 yen while the euro strengthened to $1.1186 from $1.1113.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, yesterday. Asian markets meandered on Wednesday in a post-earnings season lull, as investors awaited U.S. retail sales later in the week. (AP Photo)
LEGAL NOTICE
JAMESTOWN OPERATING COMPANY S.A.
NOTICE is hereby given that in accordance with Section 138(8) of The International Business Companies Act, 2000, of the Commonwealth of The Bahamas, JAMESTOWN OPERATING COMPANY S.A. has been dissolved and struck off the Register of Companies in the Commonwealth of The Bahamas according to the Certificate of Dissolution issued by the Acting Assistant Registrar General on the 28th day of June, 2016 Dated this 5th day of August, 2016 Edward Riley (Liquidator)
LEGAL NOTICE FIREBIRD MARITIME SERVICES LTD. NOTICE is hereby given that in accordance with Section 138(8) of The International Business Companies Act, 2000, of the Commonwealth of The Bahamas, FIREBIRD MARITIME SERVICE LTD. has been dissolved and struck off the Register of Companies in the Commonwealth of The Bahamas according to the Certificate of Dissolution issued by the Acting Assistant Registrar General on the 28th day of June, 2016
CAREER OPPORTUNITY Career opportunities are available for ambitious career-oriented individuals at a mid size hotel. We are inviting experienced persons to apply for the following positions:
Engineering Can-Fix-It
Essential Job Functions: • Repair minor electrical issues, appliances, and minor plumbing. • Must be able to repair drywall, flooring, carpentry, masonry and do remodeling jobs. • General knowledge to repair heating and cooling units, painting the exterior and pressure washing. Position Requirements: • Must have three years of hands on experience in the maintenance field. • Experience in the Hotel Industry will be a plus.
Storekeeper/Receiver:
Essential Job Functions: • Receive and inspect all incoming materials and reconcile with purchase orders. • Process and distribute documentation with purchase orders; reports, documents and tracks damages and discrepancies on orders received. • Ensure all goods received are of good quality. Position Requirements: • High School Diploma required. • Two years experience as a Storekeeper required. • Must be computer literate. Competitive salary and benefits package are commensurate with experience. •
Interested persons should submit their resumes via e-mail to recruitment.humanresources@outlook.com
Dated this 5th day of August, 2016 Edward Riley (Liquidator)
PICTET BANK & TRUST LIMITED Invites qualified applicants for the following position:-
CLIENT RELATIONSHIP MANAGER (INDEPENDENT ASSET MANAGERS - LATAM) TASKS:-Establishing and servicing IAM relationships in North/South America. -Conducting operational relationship management functions including stock market orders, account opening functions and monitoring accounts. -Day to day monitoring and controlling of clients and accounts. REQUIRED SKILLS:-Ability to work independently. -Strong organisational skills. -Commitment to excellent customer service. -Must be a team player. -Excellent oral and written communication skills. -Excellent problem solving skills. -Ability to work under pressure and to meet strict deadlines. EDUCATION AND EXPERIENCE:-Bachelor’s Degree in Finance or related subject. -At least seven (7) years’ experience in similar function. -Excellent knowledge of investment instruments. -Proven understanding of Securities Administration. -Proven understanding of Independent Asset Managers’ activities. -Ability to speak/write French and Spanish would be an asset. -Proficiency in a variety of software applications including Microsoft Word, Excel and PowerPoint and Avaloq.
ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED. Please deliver Resume BY HAND and two (2) references NO LATER THAN FRIDAY, AUGUST 19, 2016 to: The Human Resources Manager Bayside Executive Park Building No. 1 Nassau, Bahamas
PAGE 12, Thursday, August 11, 2016
THE TRIBUNE
Egypt house speaker wants illegal currency dealers executed CAIRO (AP) — Egypt’s parliament speaker said in comments published Wednesday that he wished to see illegal foreign currency dealers executed, arguing that the nation was facing an “economic war” that must be decisively confronted. The speaker, Ali AbdelAl, also called for the closure across the country of all foreign exchange bureaus, which are accused of speculating down the value of the Egyptian pound, describing
them as a “cancer” in the nation’s economy. “Egypt is being subjected to an economic war and a conspiracy that we must decisively confront to strike a balance between security requirements and the rights of citizens,” he said, according to the flagship state newspaper Al-Ahram. His comments were widely reported in the Egyptian press. Abdel-Al spoke Tuesday in parliament, a 588-seat
POSITION AVAILABLE
ACCOUNTS RECEIVABLE CLERK -
Persons applying should have at least three (3) years experience in accounts receivables. A bachelor or Associates degree qualification would be an asset. Candidates should have good telephone ethics, a keen eye for detail and good people skills. Must be a team player and self motivated. Persons applying should have at least three (3) years experience in accounts receivables
-
chamber packed with supporters of President AbdelFattah el-Sissi, after lawmakers voted to toughen fines and prison terms for illegal trading in foreign currency, with offenders now facing up to 10 years in prison and a fine of up to five million pounds (some $570,000). Even though authorities are unlikely to introduce capital punishment for illegal currency dealers, the speaker’s comments mirror the extent of concern felt by the administration over the falling value of the Egyptian pound as well as Abdel-Al’s own fiery temperament. The latest example of Abdel-Al’s short temper came last week, when he abruptly interrupted a lawmaker who inquired about whether retired military officers now in government jobs are entitled to a pension. The lawmaker, yelled the speaker, should not “talk like this about those in the armed forces who put their lives on the line.” Determining a realistic value for the Egyptian pound is a key part of ongoing negotiations, now in their second week, between Egypt and
the International Monetary Fund over a $12 billion loan over three years to rescue the country’s ailing economy. According to media reports, IMF delegates see 11.60 Egyptian pounds to the U.S. dollar as a realistic exchange rate — that is nearly three pounds more than the current official rate of 8.87 pounds. A thriving black market offers up to 12.50 pounds to the dollar, attracting billions of dollars away from banks. The exchange rate is crucial to Egypt, which heavily depends on imports, not just of staple food items but also industrial components and raw materials to keep the manufacturing sector going. Much of the imports needed by the private sector are financed by dollars bought on the black market, a practice that has in recent months sent prices soaring. Authorities have in recent weeks cracked down on illegal foreign currency trading, shutting or suspending dozens of exchange offices, arguing they were damaging the economy through speculating down the Egyptian pound.
Interested persons with the proper qualification, energy and enthusiasm may apply. Please send full resume including copies of certificates and a photograph.
Via email to:
accountsvacancy@milobutler.com
Only serious persons need apply.
MARKET REPORT WEDNESDAY,10 AUGUST 2016
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,973.59 | CHG -0.03 | %CHG 0.00 | YTD 149.64 | YTD% 8.20 BISX LISTED & TRADED SECURITIES 52WK HI 4.05 17.43 9.09 3.50 4.70 0.18 8.34 8.40 6.10 10.60 15.50 2.72 1.60 5.80 8.76 11.00 8.05 6.90 12.25 11.00
52WK LOW 2.25 17.43 9.09 3.14 4.70 0.12 6.09 7.25 5.50 7.00 14.48 2.25 1.27 5.51 6.00 9.85 6.01 5.55 11.75 10.00
PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
1.00 105.50 100.00 100.00 100.00 105.00 100.00 10.00 1.01
1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE
LAST CLOSE 4.05 15.85 9.09 3.50 5.22 0.12 6.50 8.40 5.83 10.59 14.49 2.71 1.41 5.80 8.76 10.96 8.01 6.40 11.93 10.00
CLOSE 4.05 15.85 9.09 3.50 5.22 0.12 6.50 8.40 5.83 10.59 14.49 2.71 1.50 5.80 8.76 10.96 8.01 6.40 11.93 10.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +
SYMBOL FBB17 FBB18 FBB22
LAST SALE 100.00 100.00 100.00
CLOSE 100.00 100.00 100.00
CHANGE 0.00 0.00 0.00
Bahamas Note 6.95 (2029) BGS: 2014-12-3Y BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y
BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330
115.29 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
115.36 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00
52WK LOW 100.00 100.00 100.00
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
VOLUME 280
VOLUME
EPS$ 0.304 1.351 1.086 0.220 -1.134 0.000 0.185 0.551 0.508 0.541 0.528 0.094 0.166 0.510 0.612 0.960 0.650 0.703 0.756 0.000
DIV$ 0.090 1.000 0.000 0.160 0.000 0.000 0.187 0.260 0.200 0.360 0.610 0.060 0.040 0.240 0.275 0.000 0.280 0.120 0.640 0.000
P/E 13.3 11.7 8.4 15.9 N/M N/M 35.1 15.2 11.5 19.6 27.4 28.8 9.0 11.4 14.3 11.4 12.3 9.1 15.8 0.0
YIELD 2.22% 6.31% 0.00% 4.57% 0.00% 0.00% 2.88% 3.10% 3.43% 3.40% 4.21% 2.21% 2.67% 4.14% 3.14% 0.00% 3.50% 1.88% 5.36% 0.00%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%
INTEREST 7.00% 6.00% Prime + 1.75%
MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022
6.95% 4.00% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25%
20-Nov-2029 15-Dec-2017 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045
MUTUAL FUNDS 52WK HI 1.99 3.89 1.91 167.58 138.35 1.44 1.67 1.55 1.06 6.67 8.16 5.81 10.66 10.12
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.38 1.53 1.47 1.03 6.11 6.93 5.55 10.37 8.65
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 5 Royal Fidelity Int'l Fund - Equities Sub Fund
NAV 1.99 3.89 1.91 167.58 136.68 1.44 1.67 1.55 1.06 6.67 8.01 5.81 10.66 8.65
YTD% 12 MTH% 2.09% 4.15% 3.06% 6.67% 1.39% 3.06% 3.41% 5.18% 2.95% -0.58% 1.89% 3.91% 2.32% 8.70% 1.68% 5.28% 2.77% 1.26% -0.14% 9.15% -1.87% 15.62% 0.83% 4.82% 70.00% 2.80% -6.29% -13.65%
NAV Date 30-Jun-2016 30-Jun-2016 24-Jun-2016 30-Jun-2016 30-Jun-2016 30-Jun-2016 30-Jun-2016 30-Jun-2016 30-Jun-2016 29-Feb-2016 29-Feb-2016 29-Feb-2016 29-Feb-2016 29-Feb-2016
MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225
a man counts U.S dollars at an exchange office in Cairo, Egypt. Al-Ahram, Egypt’s flagship state newspaper, quoted Ali Abdel-Al, the country’s parliament speaker, during yesterday’s edition, as saying he wished new legislation toughening punishments for illegal foreign currency trading would include the death penalty. (AP Photo)
NOTICE
NOTICE is hereby given that KHESHORIE PERSAUD RAMLOCHAN of #21 Emerald Drive, Freeport, Grand Bahama, 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 4th day of August, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that CHOONADAI RAMLOCHAN of #21 Emerald Drive, Freeport, Grand Bahama, 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 4th day of August, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that odilia joseph of Key West Street, P.O.Box N10610, 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 4th day of august, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that EUNICE IDA MAY MCINTOSH SMITH of Martin Town, Eight Mile Rock, Grand Bahama, 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 4th day of August, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
THE TRIBUNE
Thursday, August 11, 2016, PAGE 13
US stocks close modestly lower as oil slumps AP Business Writer – A sharp sell-off in energy companies pulled U.S. stock indexes modestly lower Wednesday, wiping out small gains from the day before. Another slide in crude oil prices weighed on the energy sector. Banking, health care and technology companies also declined, while consumer-focused stocks and phone companies posted gains. Investors mostly focused on company earnings from retailers, restaurant chains and other companies. “We’re still down yearover-year for the quarter, but there’s a growing conviction that the headwinds from the energy bust and strong dollar are increasingly fading,” said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas. The Dow Jones industrial average fell 37.39 points, or 0.2 percent, to 18,495.66. The Standard & Poor’s 500 index shed 6.25 points, or 0.3 percent, to 2,175.49. The Nasdaq composite index lost 20.90 points, or 0.4 percent, to 5,204.58. In the absence of major economic news, in what is a seasonally slow period for the markets, investors have been monitoring company earnings for clues about how the second half of the year is shaping up for corporate America. A strong jobs report last Friday boosted investors’ confidence in the U.S. economy. Traders are looking ahead to Friday, when the government delivers its latest monthly retail sales figures. Most companies have already delivered their quarterly report cards, and earnings and revenue have been relatively good. Some 90 percent of the companies in the S&P 500 index have already reported secondquarter results, and roughly 65 percent posted earnings that beat Wall Street’s expectations, according to S&P Global Market Intelligence. Even so, earnings overall are expected to be down 2.1 percent, dragged down by the energy sector, which has been struggling with a steep drop in oil prices. A report showing a bigger-than-expected increase in U.S. oil stockpiles last week weighed on the price of crude, reversing an early gain. Benchmark U.S. crude fell $1.06, or 2.5 percent, to close at $41.71 per barrel in New York. Brent crude, used to price international oils, slid 93 cents, or 2.1 percent, to close at $44.05 per barrel in London. Several companies reported disappointing quarterly results or outlooks on Wednesday. Michael Kors slid 2.8 percent after the clothing com-
pany forecast weaker sales for the current quarter and lowered its outlook for sales at established stores. The stock fell $1.40 to $48.71. Perrigo sank 9.6 percent after the pharmaceuticals company cut its guidance for the year, citing growing competition and falling prescription drug prices. The stock lost $9.09 to $86. Traders sought shade from SunPower after the solar products and service company tumbled 30.2 percent. The company said its power plant business is struggling amid growing competition and project delays. The stock lost $4.47 to $10.31. Investors bid up shares in several companies that reported strong earnings. Yelp jumped 12.8 percent after the online business review portal reported strong quarterly results. The stock added $4.19 to $36.83. Clothing company Ralph Lauren surged 8.5 percent after it too delivered strong quarterly results. The stock gained $8.07 to $103.14.
a Wall Street sign near the flag-draped facade of the New York Stock Exchange. Global stocks mostly fell yesterday, amid quiet summer trading and questions about the sustainability of some indexes’ rise to record highs. (AP Photo)
“The earnings beats that we’re getting are, to a large extent, being driven by better revenue performance,” Lefkowitz said. Markets overseas were mixed. In Europe, Germany’s DAX and France’s CAC 40 each dipped 0.4 percent. Britain’s FTSE 100 rose 0.2 percent. Earlier, Japan’s Nikkei 225 lost 0.2 percent despite a report showing private sector machinery orders rebounded in June from May. Hong Kong’s Hang Seng edged up 0.1 percent, while Australia’s S&P ASX 200 fell 0.2 percent. South Korea’s Kospi added less than 0.1 percent. Stocks in Taiwan and Singapore also were higher, but markets in China, Indonesia and New Zealand declined. In other energy trading, wholesale gasoline slipped 4 cents to $1.30 a gallon, while heating oil lost a penny to $1.32 a gallon. Natural gas fell 5 cents, or 2.1 percent, to $2.56 per 1,000 cubic feet.
Employment Opportunity MAINTENANCE WORKERS A leading Fast Food franchise is looking for mature, clean-cut individuals to join its Maintenance (Janitorial) Team. Job Summary To be responsible for the general cleanliness and upkeep of the entire Store and its surroundings, so as to facilitate the smooth, efficient operation of the Store. Requirements • Must be a high school graduate. • Must have excellent inter-personal skills. • Must have excellent oral and written communication skills. • Professionalism required. • Must be able to work flexible hours including early mornings, late nights, weekends and holidays. • A basic knowledge of kitchen equipment and electrical and air conditioning repair skills would be a plus. • Must have a clean police record. McDonald’s offers excellent benefits! Please submit Resume to: Human Resources Department McDonald’s Head Office 111 Market Street North P. O. Box SS-5925 Telephone: 325-4444 Nassau, N.P., The Bahamas
An entrepreneurial spirit, original thinking, and a passion to succeed. If you have it, we want you. We are growing! Fidelity invites applications for the position of:
Recruiter To find the best and brightest talent to join our team. We provide a challenging, driven, results-oriented environment where creative, goal-oriented, self-confident, high achievers succeed.
Main Duties & Responsibilities: • Managing all stages of the hiring process including candidate sourcing, screening, interviewing, negotiating, extending offers, securing new hire acceptances, background checks and completing post hire follow ups • Evaluating candidate's work history, education, training, job skills, compensation requirements, and abilities • Creating internal and external job posting • Documenting and tracking statistics and data pertinent to each position • Solid understanding of employment law, recruitment, staffing metrics and HR related practices • Preparing assigned monthly, quarterly and annual HR reports • Demonstrated ability to manage high volume of recruitment within strict scheduling requirements • Keeping abreast of current market trends and identify potential impacts on hiring decisions • Maintaining a network of potential hires in advance of requisitioned needs • Conducting regular follow-up with managers to determine the effectiveness of recruiting plans and implementation • Assisting with benefits administration
Requirements / Qualifications: • 3-5 years of recruiting experience a must • Strong analytical skills • Excellent communication skills both oral and written • Ability to multi-task in a fast paced environment • Excellent administrative skills and proficiencies in Microsoft Office Suite Programs • Ability to work in a self-motivated environment with little supervision • Strong leadership abilities • Analytical with strong negotiation skills • Efficient and detail oriented • Must be able to identify and resolve problems in a timely manner. PLEASE SUBMIT BEFORE August 19th, 2016 to:
HUMAN RESOURCES Re: Recruiter careers@fidelitybahamas.com
ABSOLUTELY NO PHONE CALLS
A competitive compensation package will be commensurate with relevant experience and qualification. Fidelity appreciates your interest, however, only those applicants short listed will be contacted.