Issuu

business@tribunemedia.net

TUESDAY, MARCH 26, 2019

$4.40

Nassau air arrivals strike 28year peak By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net AIR arrivals to New Providence achieved their highest quarterly growth for 28 years during the final three months of 2018, expanding by 20.6 percent to complete a strong year for Bahamian tourism. The Central Bank’s latest quarterly economic review, covering the final quarter of 2018, revealed: “Total visitors to New Providence strengthened by 15.9 percent during the review quarter, a turnaround from a 2.1 percent reduction in the preceding year, as the key air component firmed by 20.6 percent - the largest percentage increase since 1990, while sea passengers advanced by 14.3 percent. “The Grand Bahama market also showed signs of improvement, as total arrivals grew by 10.3 percent, following a 13.6 percent expansion in the previous year, with the air and sea components advancing by 12.6 percent and 9.9 percent, respectively. “In contrast, total visitors to the Family Islands declined by 9.7 percent, visa-vis a 29.8 percent increase in the comparative period of 2017, as the 11.4 percent decline in the dominant sea component outstripped the 5.3 percent growth in air arrivals.” New Providence’s performance will have been driven by the extra airlift associated with Baha Mar’s full opening and net 2,300 room inventory increase, coupled with improved US consumer confidence and an expanding economy in the market that accounts for around 85 percent of The Bahamas’ tourism customer base. Grand Bahama’s improvement, though, was aided by weak comparatives from the year before that, for the first time, did not reflect the impact of the Grand Lucayan’s late 2017 closure. “Buoyed by the increase in stopover visitors, information from the Bahamas Hotel and Tourism Association and the Ministry of Tourism for a sample of large properties in New Providence and Paradise Island showed that total room revenues strengthened

SEE PAGE 3

$4.72

$4.51

Lucayan purchaser decision ‘in process’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

HE Grand Lucayan’s chairman yesterday confirmed a preferred bidder for the resort is likely to be announced this week with the board set to submit its recommendations imminently. Michael Scott told Tribune Business that the Grand Lucayan Board was currently finalising its submission to the government as he warned time is running out for the resort’s managers and their representatives to accept what he branded as a “super generous” payout offer. He argued that the Bahamas Hotel Managerial Association (BHMA) members and their president, Obie Ferguson, faced a choice of taking the collective $3.2m voluntary separation package (VSEP) currently available from the government or walking away with much less after the Grand Lucayan is sold and they are terminated. Confirming that the Grand Lucayan’s Board met on Friday to discuss the assessment conducted on

• Would have placed increased burden on itself • By making non-profits ‘incapable’ of operating • Sector’s society services faced cut-back

COURTYARD AT GRAND LUCAYAN RESORT the best three to four purchase offers by Colliers, the Canadian-headquartered real estate firm, Mr Scott said he and his fellow directors were now completing their own report and conclusions for the government. “We’re in the process of doing that right now, but otherwise my lips are sealed,” he told Tribune Business, declining to comment further or identify the likely preferred bidder. Mr Scott and the board had previously set end-March as the deadline for identifying a preferred bidder and

ACTIVISTS have accused Grand Bahama Power Company of employing “strong arm tactics” to force customers to settle the “fake energy savings devices” controversy on its terms. Pastor Eddie Victor, head of the Coalition of Concerned Citizens (CCC), told Tribune Business that the utility’s threat to report businesses and residences where these devices are installed to the Royal Bahamas Police Force (RBPF) unless they agreed a “satisfactory” payment plan amounted to “corporate bullying”. A long-time GB Power critic, Pastor Victor questioned why the energy provider was threatening “to drag people to the police and get them

SEE PAGE 5

SEE PAGE 4

• Hit at police threat on settlement plan • Coalition seeks ‘protocol’ from GBPA • To meet with regulator today arrested” when it had already acknowledged that they were “victims of a fraud” perpetrated by those who had sold and installed such devices. He revealed that the Coalition, together with principals from Sav Mor drugs and other businesses whose electricity was disconnected by GB Power upon discovering the presence of such devices, will meet with the utility’s regulator today to “push for a protocol” on how such situations will be dealt with in the future. The group wants the Grand Bahama Port Authority (GBPA) to establish procedures that will avoid customers being

disconnected from electricity supply for an indefinite period of time - especially in the absence of a set mechanism for how the matter can be redressed and power restored. GB Power, in a statement last Thursday, set out a three-step “remediation” plan for addressing the “fake energy devices” controversy that has created havoc in Freeport and Grand Bahama because of how widely they are being used. It called on all customers to “urgently” report the presence of the “fake” boxes and associated equipment to it, so that GB Power personnel can inspect it and “address any

By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

immediate safety risks” - a process that could result in short-term power outages. “GB Power will make reasonable arrangements for customers to pay for the electricity which has been used but not metered and billed,” the utility’s statement said. “Where GB Power and the customer reach a satisfactory resolution, no complaint will be made to law enforcement.” Therein lies the consequences for those that do not comply with the energy monopoly and settle on its terms, and Pastor Victor told Tribune Business: “I don’t feel the Power Company should be bullying

as Freeport Harbour into a destination product using water-based adventure theme parks. Both sides bring considerable expertise and development resources, with Royal Caribbean adding an extremely large customer base to the mix. Tribune Business sources yesterday suggested that the Grand Lucayan’s acquisition could result in Royal Caribbean electing to use Freeport as a “home port” for some of its cruise ships, with passengers flying in via

Activists slam GB Power over ‘strong arm tactics’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

Poultry producers in push for quotas A BAHAMIAN poultry producer yesterday revealed it is “pushing” for chicken imports to be regulated by quotas rather than the current tariff system as The Bahamas’ march to WTO accession continues. Lance Pinder, operations manager at Abaco Big Bird, told Tribune Business: “Just negotiating a duty rate for poultry would only be one part of the issue. We’re pushing to try and get a quota system in place which will replace the current import regime. You have to get every country that wants to send chicken into The Bahamas, negotiate with them all and come to an agreement. “There are different ways it can be administered, but what happens is you agree on how much can come in. What then would happen is ‘x’ amount will come in at a low duty rate and, once that threshold is met, the duty rate jumps up much higher and discourages importation after a certain amount of pounds has entered the country. “That’s what we’re pushing for. We’ve brought that up in WTO talks, and that’s where we think things are headed.That’s pretty common in poultry systems around the world.” Quotas are another means of protecting local industries from foreign competition by restricting the volume of imports admitted into a country. Once import volumes for a particular product reach a pre-determine amount, threshold or benchmark, no more are permitted to cross the border. Zhivargo Laing, The Bahamas’ chief negotiator in the bid for full World Trade Organisation (WTO) membership, previously revealed that poultry was one area where foreign countries were interested in seeing tariff reductions beyond what this nation has offered to-date. “Some countries have asked us to lower duties further in areas in which they have an export interest; poultry is one of those areas,” Mr Laing said. Mr Pinder yesterday said Bahamian producers

MICHAEL SCOTT

submitting their proposal to the government - a timeline that will be hit by the end of this week. While no details have been forthcoming on the Colliers assessment or board meeting’s outcome, multiple Tribune Business sources expect that the ITM/Royal Caribbean joint venture will likely be selected as the preferred bidder. The Mexican port developer and cruise line are proposing to transform the Grand Lucayan, and the surrounding area, as well

$4.56

Seize ‘new optimism’ for Bahamian empowerment By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday urged The Bahamas to seize the “new optimism” and empower more local ownership of an economy that “is beginning to tick”. Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that investors were “very bullish on The Bahamas right now” as the government seeks to pull “more irons out of the fire” to join investment projects already in motion. Reiterating previous calls that “now is the time for Bahamians to invest”, Mr D’Aguilar urged existing and budding entrepreneurs to determine how they can exploit the “multiplier effect” created by major foreign direct investment (FDI) inflows. “We’ve got a lot of irons

• Minister: ‘Economy beginning to tick’ • Govt has multiple ‘irons in the fire’ • Says ‘right time’ for locals to invest in the fire and are waiting for all of them to be finalised,” he said. “The Disney deal is now done. We have the Carnival iron in the fire in Freeport, the Grand Lucayan iron in the fire, and the cruise port iron in the fire in Nassau. “We’re kind of in the negotiating phase where not much will be said until we have a deal. We’re in that period now where we’re fully in the process of negotiations, and just have to wait for it to be done. I’m optimistic about what will imminently be forthcoming in all these transactions, but the devil’s in the details and we continue to thrash DIONISIO D’AGUILAR

SEE PAGE 4

PAGE 2, Tuesday, March 26, 2019

THE TRIBUNE

Bahamian restaurant Customer service boost expands to new site for cruise port providers By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net JUMBEY Café, the Village Road-based restaurant deeply rooted in Bahamian flavours, has expanded to a second location on Carmichael Road. It has taken over space formerly occupied by QBC opposite John’s Plaza, located at the junction of Carmichael and East Avenue, after principal Valentino Munroe decided now was the right time for the business to grow. “To be able to move into Carmichael in a more urban area with high consumer traffic gives us the ability to broaden our customer base and increase volume, thereby improving our growth prospects and the opportunity to gain a stronger foothold in the food industry,” said Mr Munroe. To ease staff into the new location, Jumbey Café quietly opened the doors of its second outlet on Thursday, March 21. An official opening is slated for next month. Since its launch in 2016, Jumbey Café has built a foundation and brand identity as a place for authentic Bahamian dishes heavily influenced by the owner’s Andros roots. Crab soup, baked crab, crab and rice, boil fish, fresh snapper, crack conch and other Bahamian dishes are prepared in a “down home” atmosphere. While many neighbourhood restaurants are closed on Sundays, Jumbey Café is open from 9 am to 6 pm. Its food is prepared fresh daily by Family Island cooks from Andros, Abaco and Exuma. “We have a very popular base in and around The Village Road Shopping Centre area,” said Mr Munroe,

HIGHLIGHTS from the training exercise held at the University of The Bahamas.

DOUBLE the location – Restaurateur Valentino Munroe stands outside Jumbey Village’s newly-opened establishment Carmichael and East Avenue location. It is the second restaurant for the brand launched in 2016. a computer system engi- in Andros. neer by profession, who “We look to compliment also runs the computers and improve the product and accessories store, Onit quality and the level of Systems, located just a few service in our area of the doors away. market. A new entrant, He added that Jumbey even a small player, could Village’s flagship loca- have an amazing impact tion aims to capture a causing its competitors larger market share when to take note and improve the café rolls out its lighter their level of service. Conlunch fare – more salads, sequently, the customer boils and fresh vegetables. benefits from better food The goal is to attract and quality all around.” retain more of the area’s The restaurateur said his professional, health con- priority is ensuring both science consumers. locations deliver what “Our choice of loca- they promise – authentic tions demonstrates we are Bahamian food made with not afraid to get close to all-natural, fresh ingredisome of the bigger play- ents prepared in the best ers who have done really environment possible by a well in business over the welcoming staff. years. I’m not worried Mr Munroe said: “While about competition. With we look to expand operafood, having options make tions, our bigger dream is the market more inter- really to exemplify to the esting,” said Mr Munroe, next generation would it whose family owns and means to grow, build and operates restaurants and develop ownership in the lodging accommodations Bahamian economy.”

VENDORS, tour operators and government agencies who operate at Prince George Wharf were given the chance to sharpen their customer service skills recently during a two-day workshop. The event was staged by Canada-based Aquila, a major international tour operator that through its Centre for Cruise Excellence - assists in enhancing the shoreside experience for cruise lines and their passengers. It partnered with the Ministry of Tourism and Aviation and the Florida Cruise Caribbean Association (FCCA). Ellison “Tommy” Thompson, deputy directorgeneral of tourism, said the

workshop was badly needed as the government moves to revitalise Nassau’s cruise port by outsourcing its management and redevelopment to Global Ports Holding’s $250m project. “With the privatisation of the port we will see more cruise passengers, and we want our people to be prepared and we want them to make more money,” Mr Thompson said. Beth Hatt, Aquila’s chief executive, added: “The Bahamas has one of the largest and growing cruise ports in the world. In order to keep that growth, the guest satisfaction has to be there. The investment that they are making in The Bahamas is really good.”

More than 150 attendees participated in the event, which was held at the Courtyard Marriott and the University of The Bahamas. “I came here to learn how we can become the number one cruise port in the region again,” said Yvette Prince of Treasure of The Sea. “We want to make sure that our guests always have an excellent customer experience.” “What this workshop does is educate me more about what is expected of tour guides, and what we can do to enhance the experience,” added taxi driver, Lennox Moss. Officials are hoping to hold similar seminars across The Bahamas in the near future.

Help Wanted - Boat Captain 1 Yacht Captain with Master’s A license to captain a 70 foot motor pleasure vessel. Should have 10 years of experience in command of a. Similar vessel. Must have navigational skills with excellent knowledge of Bahamian waters. Experience with state-of-the-art navigational equipment. Knowledge of the operation of Diesel engines is a must. Must be able to maintain engine and systems logs. Excellent salary, commensurate with experience. Please provide CV with resume.

1 First mate with experience working on a large private vessel Must have knowledge of Diesel engines and be able to assist the Captain and handle deck chores which would include keeping the entire vessel clean. The successful applicant must also be proficient in docking assist, anchoring, and tying up the vessel. Must also be able to launch and operate a 15th tender with 40hp o/b engine. Please deliver application to any Chances Games Head Quarters, Nassau, Grand Bahama, Abaco, Eleuthera.

THE TRIBUNE

Tuesday, March 26, 2019, PAGE 3

NATIONAL DEBT ENDS 2018 AT $8.22BN By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas’ national debt finished 2018 at $8.22bn, having increased by $335.3m last year, although GDP growth meant it fell slightly in proportion to the size of the economy. The Central Bank of The Bahamas, in its quarterly report for the three months to-end December 2018, revealed that this

country’s total debt - the government’s direct charge plus all the borrowings it has guaranteed on behalf of corporations and agencies rose by $103.5m during that period. “The direct charge on the government rose by $119m (1.6 percent) over the previous quarter, and by $317.2m (4.4 percent) year-on-year, to $7.497bn at end-December 2018,” the Central Bank said. “The government’s contingent liabilities decreased by $15.4m (2.1 percent)

over the final quarter of 2018 to $722.3m, but rose by $18.1m (2.6 percent) year-on-year. As a result of these developments, the national debt - inclusive of contingent liabilities - rose by $103.5m (1.3 percent) over the three-month period to $8.22bn and by $335.3m (4.3 percent) relative to December 2017.” However, economic growth ensured that The Bahamas’ debt ratios were kept in check at year-end 2018. The debt directly owed by the government

fell from 59 percent of GDP at year-end 2017 to 58.9 percent some 12 months later, with the total debt-to-GDP ratio also down slightly from 64.8 percent to 64.6 percent year-over-year. “As a ratio to GDP, the direct charge edged down by one basis point on a yearly basis to an estimated 58.9 percent at end-December. In addition, the national estimates of the debt-to-GDP ratios narrowed to an estimated 64.6 percent from

64.8 percent at end2017,” the Central Bank continued. Some 65.4 percent, or nearly two-thirds, of the national debt was denominated in Bahamian dollars at year-end 2018, while foreign currency liabilities accounted for the remaining 34.6 percent. “Public sector foreign currency debt decreased by $82.4m (2.3 percent) to $3.474bn during the fourth quarter, as amortisation payments of $129.7m overshadowed new

drawings of $46.7m,” the Central Bank said. “Similarly, the public sector’s foreign currency debt fell by $10.7m (0.3 percent) vis-à-vis the corresponding period of 2017. In terms of the components, the government’s outstanding liabilities—which accounted for 74.6 percent of the total—decreased by $6.9m (0.3 percent) to $2.592bn on a quarterly basis, while the public corporations’ debt stock was reduced by $75.5m (7.9 percent) to $881.3m.”

BAHAMAS URGED: ‘SEIZE’ BLOCKCHAIN OPPORTUNITY By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net BLOCKCHAIN and crypto currency assets have the potential to revolutionise “the way we do business”, a local advocate said yesterday, urging The Bahamas to “seize the opportunity”.

“Blockchain, crypto currency and FinTech (financial technology) has the potential to revolutionise this country and the way we do business,” said Wayne Johnson, a corporate manager for the Zucaz Group. “We have to look at the big picture. We have to give young entrepreneurs the ability to innovate. We have

to give our people a chance; we have to think big. We are in a great position, and have a tremendous opportunity to use the technologies to transform this economy, create new entrepreneurs, change the way we do business and how we may be perceived. There has to be the political will to make it a reality.”

Mr Johnson hailed as a “good thing” the Central Bank’s Project Sand Dollar, which will introduce a digital Bahamian dollar. Exuma will host the first test of the electronic currency. “We have to reach the unbanked. We need to go more into Blockchain and crypto assets. We don’t have to reinvent the wheel here.

There are parts of Africa where mobile to mobile payments have gone through the roof,” said Mr Johnson. “We don’t even have to worry about building out infrastructure. We need to be able to cultivate the creative minds in this country and come up with creative solutions to many of the problems we face in this

country. There is so much we can do with technology.” The Central Bank has selected NZIA Ltd, a joint venture between IBM and a Singapore-based software company specialising in Blockchain solutions, from among 30 bidders to be the preferred technology solutions provider for Project Sand Dollar.

Nassau air arrivals strike 28-year peak “Similarly, the dominant sea passenger component - which

comprised 79.1 percent of the total - rose by 3.9 percent to 1.3 million, vis-à-vis

the prior year’s increase of 7.1 percent and the five-year average of 0.5 percent.”

BAHA MAR RESORT FROM PAGE ONE by 40 percent, outstripping the 22.7 percent advance in the prior period,” the Central Bank report said. “Reflecting in part the rise in high-end room capacity, the average daily room rate (ADR) firmed by 11.4 percent to $257.59, outpacing the 5.4 percent gain in the previous year. In addition, the number of room nights sold firmed by 28.3 percent, contributing to a 4.3 percentage point rise in the average hotel occupancy rate to 56.5 percent.” It added: “During the fourth quarter total visitor arrivals grew by 6.4 percent, a slowdown from the previous year’s 8.4 percent expansion. In terms of the components, the high

ENTRANCE TO LPIA AIRPORT value-added air segment increased by 17.1 percent to 0.4 million, outpacing the 14.4 percent growth in the

corresponding period last year and an average 5.6 percent gain over the last five years.

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

2018/CLE/gen/00886

IN THE MATTER OF property comprised in an Indenture of Mortgage dated the 7th day of December 2006 between Anthony Stubbs and Sharon Stubbs of the one part and Commonwealth Bank Limited of the other part and of record in the Registry of Records in the City of Nassau in the Is land of New Providence in Volume 9879 at pages 52 to 66. BETWEEN

COMMONWEALTH BANK LIMITED AND ANTHONY ELSWORTH STUBBS AND SHARON ELIZABETH STUBBS

TO: ANTHONY STUBBS TAKE NOTICE that:

Plaintiff First Defendant Second Defendant

1. A Notice of Adjourned Hearing filed herein has been issued in the Supreme Court of The Bahamas by Commonwealth Bank Limited, by the Plaintiff herein against you, Anthony Stubbs

An Order made in the Supreme Court by the Honorable Justice Gregory Hilton in Supreme Court Action No. 2018/Cle/gen/00886, it was ordered that service of the said Notice of Appointment to Hear Originating Summons and all other pleadings against one of the Defendant, Anthony Stubbs to be effected by way of this Advertisement.

3. IT IS FURTHER ORDERED THAT THE HEARING OF THE NOTICE OF ADJOURNED HEARING IS SET TO BE HEARD ON WEDNESDAY, 27th March 2019 AT 9:30 A.M BEFORE THE HONORABLE JUSTICE GREGORY HILTON, SWIFT JUSTICE BUILDING, EAST STREET NORTH, NASSAU, N.P., THE BAHAMAS 4. The Court further Ordered that the existence of further proceedings be deemed to be served on you by way of similar advertisements Dated the 13th day of March A.D.2019 GRAHAMTHOMPSON Chambers, Sassoon House, Shirley Street & Victoria Avenue, Nassau, Bahamas. Attorneys for the Plaintiff

PAGE 4, Tuesday, March 26, 2019

THE TRIBUNE

Lucayan purchaser decision ‘in process’ FROM PAGE ONE Grand Bahama International Airport to “overnight” at the resort before setting off on their cruises. Besides providing a major boost for the aviation industry and airlift into Freeport, this newspaper’s contacts added that becoming a “home port” could also revive prospects for the liquefied natural gas (LNG) industry on Grand Bahama. Cruise ships, especially the 90-100 currently in production, increasingly rely on LNG as a fuel - opening up the possibility for LNG bunkering services to be offered from Freeport. BISX-listed Arawak Port Development Company (APD) has made no secret of its interest to do similar in Nassau in partnership with New Fortress Energy as part of the $250m cruise port redevelopment, while Shell North America is looking at similar spinoff opportunities from the new New Providence power plant that it will construct by 2022. Mr Scott, meanwhile, reiterated his and the board’s continued tough stance over the BHMA’s payout demands for the 90 Grand Lucayan managers who wish to accept the VSEPs

and leave if the terms are right. While the Industrial Relations Act was amended under the former Christie administration to mandate that the terms of an expired industrial agreement remain in effect until a new one is agreed, the Grand Lucayan Board’s position is this does not apply to its deal with the BHMA as it ended before the law was changed. As a result, the board and government are arguing that the terms and conditions of the BHMA’s last industrial agreement no longer remain in effect, giving them the ability to deal with each managerial staff member on an individual basis rather than as a collective trade union. “We have non-suited the management union at the Tribunal,” Mr Scott told Tribune Business. “They had brought Industrial Tribunal proceedings against us. “We were advised by our attorneys, ParrisWhittaker, and made a submission that there was no legitimate industrial agreement even though there was an amendment to the Industrial Relations Act that even if a union agreement expired it was deemed to continue in effect until a new

DIONISIO D’AGUILAR one was agreed. “There is no valid industrial agreement, so we’re able to deal with the union members on their own. They can either deal with the generous offer that was endorsed by the minister [of tourism and aviation] as recently as last week; they can either accept that or wait for the sale of the hotel and everyone to be terminated,” he continued. “They will get much less on termination than they will get from the current proposal that we made with the approval of Cabinet and the minister of tourism. They can either accept it now or end up with much less when the hotel is sold. “They can either take what we’re offering them

now, a super generous offer, or wait for the sale and termination of their employment. I’m done. That’s it.” Negotiations between the BHMA, and Lucayan Renewal Holdings/the government, have become contentious on several occasions with the latter arguing that there is simply no more money available for VSEPs due to its desire to minimise taxpayer exposure to a loss-making property it is aiming to sell back into private sector hands as rapidly as possible. Backing Mr Scott, Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business on March 14 that the government was not increasing the total value of its payout offer beyond $3.1m-$3.2m. The BHMA is demanding $5.5m, a figure that includes the retirement annuity, leaving them some $2.4m apart. The government, initially basing its VSEP offer on the Employment Act, which caps payouts at 12 years of service, had proposed $2.64m - the sum likely available to the managers should no agreement with the BHMA be reached before the Grand Lucayan is sold. Mr Scott had subsequently increased the offer

by around $500,000 to the present sum. Mr D’Aguilar, minister of tourism and aviation, striking a markedly more conciliatory tone, yesterday said he was “minded to accommodate” the BHMA’s request for another meeting this week but warned that “compromise” was essential to achieving resolution. “He [Mr Ferguson] has requested another meeting, and I’m minded to accommodate them,” he told Tribune Business. “We’ll meet later this week. Cabinet is on Tuesday, parliament on Wednesday, so probably Thursday. It’s a process. We’re negotiating. “He wants ‘x’, we don’t quite have ‘x’, so we’re trying to find a middle ground everyone can live with. We will meet again. It will be cordial, very conciliatory, but I guess that at the end of the day negotiations require compromise. Who will be prepared to compromise what will determine whether we have a deal. The negotiations continue. “I’ve found in my business life that if you hold out for the best, best deal inevitably you don’t get it, but it takes time to determine that. A bird in the hand is worth two in the bush. It’s better to get not quite what

you want rather than wait months and months to find out you’re not getting everything you ask for. You end up compromising,” Mr D’Aguilar said. “If I was an employee, delaying and delaying months just to get an extra ten percent, is that worth it? Or settle and move on. We’re going to discuss what they want to discuss, but at some stage a decision has to be made on a solution.” The government and Grand Lucayan Board have argued that the union’s comparisons with previous VSEPs are inappropriate because those involved operating businesses in the process of being sold or restructured, while the Grand Lucayan has yet to be disposed of. The union’s total $5.5m payout figure also includes the workers’ retirement annuity, but the Grand Lucayan Board’s position is that it needs to take this issue up with Hutchison Whampoa - not the government. Some observers will likely argue that the government should have left the staff payouts to the Hong Kong conglomerate rather than take responsibility itself, as this could have avoided the present impasse.

Seize ‘new optimism’ for Bahamian empowerment FROM PAGE ONE everything out with all the parties.” The government earlier this month signed the Heads of Agreement for Disney’s $250m to $400m investment in developing a new passenger destination at Eleuthera’s Lighthouse Point, while the $100m Carnival cruise port in Freeport was unveiled in February. Meanwhile, Global Ports Holding has been selected as the preferred bidder to invest $250m in upgrading Nassau’s cruise port and taking over its management, while the

preferred bidder to acquire Freeport’s Grand Lucayan resort - thought to be the Mexican port developer, ITM, in combination with Royal Caribbean - could be announced as early as this week. Mr D’Aguilar said bringing all three projects - Carnival, the Grand Lucayan and Nassau’s cruise port - to fruition and out of the investment pipeline would add to multiple projects already underway or planned. With Albany continuing its expansion, and The Pointe project progressing adjacent to the British Colonial

Legal Notice

NOTICE ZAITZ LIMITED NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Zaitz Limited has been completed and the company has been struck from the Register on the 12th day of March, 2019. Shareece E. Scott Liquidator

LEGAL NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

EVERONWARD INVESTMENTS INC.

Hilton in downtown Nassau, Mr D’Aguilar said the $120m GoldWynn project at Goodman’s Bay; Sterling Global Financial’s $250m Hurricane Hole redevelopment; and Baha Mar’s proposed water park would further fuel job creation, income growth and consumer/business confidence. “There’s a new optimism that things are happening, things are getting done, projects are getting off the ground,” he told Tribune Business, “and you couple that with the incredible performance of tourism, and our economy is beginning to tick. “If you’re a Bahamian

thinking about whether to invest, this is the right time. There’s a certain optimism, a feel good factor about the economy. If you have a couple of dollars in the bank and you are thinking about investing, the time is now because as more of these projects come on line, more people are employed and there is more money in the pocket, it starts to get the wheels of the economy moving. “All of that is in play now. It hasn’t kicked off yet, but you want to prepare to tap into the multiplier effect of what results from these projects coming on stream. I’m

The date of commencement of dissolution is the 22nd day of March, 2019. Lucia E. Broughton, No. 6 Bosham Close, Camperdown Heights P.O. Box SP 6380, Nassau, Bahamas Liquidator

“I always say that these projects are creating a lot of entrepreneurial opportunities for Bahamians. If you are a Bahamian and overseas, and thinking of coming home and starting a business, this is the time to contemplate that. People are bullish on The Bahamas and we want Bahamians. “If you think about Grand Bahama and all those 2m-3m cruise passengers coming there wanting things to do, there’s business opportunities in ground transportation. You may want to come up with ideas to do excursions. There are continued opportunities.”

Poultry producers in push for quotas NOTICE

NOTICE is hereby given that DUDLEY BENT of #15 Seagull Close, 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 26th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P. O. Box N-7147, Nassau, New Providence, The Bahamas. Legal Notice

NOTICE

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000). EVERONWARD INVESTMENTS INC., is in Dissolution.”

feeling optimistic, and when we feel optimistic people start to invest. People are very bullish on The Bahamas right now.” Mr D’Aguilar, though, conceded that it is “so important” that Bahamianowned companies and entrepreneurs in the domestic economies benefit from the growth sparked by FDI projects. “It’s not all about creating employment. It’s about empowering; empowering our people to become owners of the economy and not just employees of the economy,” he told Tribune Business.

ARLO ASSET MANAGEMENT LTD. NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Arlo Asset Management Ltd., has been completed and the company has been struck from the Register on the 12th day of March, 2019. Shareece E. Scott Liquidator

FROM PAGE ONE will ultimately have to “wait and see” how WTO negotiations play out. “I’ve been in meetings with government about different aspects of it. There’s still no solid information as to how it’s going to be or affect us,” he added. “I know that they sent a counter-offer at the end of January or early part of

February as far as the poultry goes. It will depend on, I guess, what we end up negotiating. It’s still up to government to implement the policy. You can negotiate your upper limit but the government still has to set the policies within those boundaries to be good for the industry. It’s still up to government to set the domestic policy.”

To advertise in The Tribune, contact 502-2394

NOTICE

NOTICE is hereby given that RODNEY RAYMONVILLE of Miami Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 26th day of March, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Tuesday, March 26, 2019, PAGE 5

Activists slam GB Power over ‘strong arm tactics’ FROM PAGE ONE or threatening anyone. They’ve already done things they shouldn’t have done. “That [statement] is bullying. You’re saying to them that unless you come to a satisfactory resolution they’re going to report you to the police. That is a strong arm tactic, corporate strong arming. This is not a criminal matter; it is a matter that is civil in its nature. Why are you going to drag people to the police to get them arrested?” Such a fate has already befallen members of the Cooper family, owners of Freeport’s Kentucky Fried Chicken (KFC), Pollo Tropical and Burger King franchises, together with Ronald Sweeting, Sav Mor’s principal. All have been released without charge, after it was seemingly established that they were unwitting victims of allegedly unscrupulous installers. Tribune Business sources, though, confirmed that the power supply to Sav Mor, Freeport’s largest supplier of pharmaceutical drugs, was still switched off as of Sunday - having been disconnected more than a week earlier. This newspaper understands that the company was negotiating a settlement with GB Power for the electricity consumed

but never paid for to ensure it was reconnected. Pastor Victor, though, questioned why GB Power had been so willing to prosecute over the “fake energy saving devices” when it did not employ the same practices in relation to persons who illegally “hooked up” to its power grid - another form of electricity theft. The culprits, the coalition head argued, were frequently required to pay a fine plus deposit to be connected legally, rather than reported to the police. “When we meet with the Port Authority on Tuesday our main objective is to petition the regulator to establish a protocol the power company must follow when it comes to a situation like this,” he told Tribune Business. “None of this is taking them to law enforcement like they did with the Coopers and Ronald Sweeting. He’s going to be part of the meeting. Those customers affected will have the opportunity to share with the regulator their experiences. “The behaviour of the power company is very insensitive to the customers, businesses and residences. The power company used law enforcement to detain and arrest outstanding Bahamian citizens when they should have called them in and had a

meeting,” Pastor Victor continued. “All of the stuff they’re doing now they should have done at the beginning. They should have said: ‘We have a problem, anomaly with or system. This is what is showing on our report and we need to figure out what’s going on’. “The coalition will be petitioning and pushing for a protocol on how such matters will be dealt with in the future. This situation has brought to a head the fact there must be an independent regulator.” Striking a conspiratorial tone, Pastor Victor questioned whether GB Power’s high-profile strategy of disconnecting prominent businesses and filing police complaints against their owners was designed to “intimidate” companies and residents from seeking to conserve and/or save energy through legal means. He also expressed disquiet that the findings and conclusions revealed todate had only come from GB Power’s own investigations, and called on those affected to have “independent assessments” performed to “confirm” the utility’s findings. GB Power, though, will likely argue that the disconnections were necessary to preserve the integrity of its system - and viability of

its operating and financial model - given the initial uncertainty over what it was facing and the fact the businesses involved were heavy energy users costing it millions of dollars. Tribune Business understands that its main concern now is to address any safety concerns stemming from the installation of these devices, and ensure either its personnel or qualified electricians remove them rather than business and homeowners. As Tribune Business previously revealed, and was subsequently confirmed by GB Power, many installers of these “energy saving devices” exploited the desperation of numerous businesses and households to reduce electricity bills that had become equivalent to a second mortgage, eliminating corporate profits and shrinking household disposable income. While sold as “magical boxes”, they were nothing of the sort - as confirmed by GB Power, which said many were “fake” and did nothing for energy saving and/or conservation. In order to produce the promised savings, the Freeport-based utility provider said the installations it uncovered had resorted to

either bypassing or tampering with electricity meters to under-record actual consumption. Such actions are illegal, with GB Power arguing that customers who had fallen for such deception were “victims of a fraud” that delivered no actual energy savings. The utility, which is 100 percent owned by Canadian-based Emera, added that it, too, was a victim because not all customer energy consumption was being recorded - resulting in underbillings and financial losses. Tribune Business sources revealed that the settlement GB Power was seeking with Sav Mor was “not that terrific but still high”, and described the situation as “a real mess” given how widely these devices had been installed across Freeport and Grand Bahama. “It became evident that these people were duped as well as the power company,” one source, speaking on condition of anonymity, said. “These devices were rife in Freeport. They were everywhere. I think it’s quite widespread. They’ve [GB Power] lost a lot of income. These installers made a business out of it. They’ve left a very big mess in this town. It’s a crisis.”

The source said they, too, had been offered one of these devices but turned it down. “It was too good to be true,” they explained. “I figured something was smelling in Denmark. It didn’t feel right. There are legitimate devices that can reduce your power but not by as much as they were claiming, 40-60 percent. To my mind it was suspect, but they were slick about it.” The source added that Grand Bahama’s high electricity rates had “opened the door” to the problem, creating the motivation for businesses and homeowners to seek “magical” solutions. Tribune Business sources, though, have questioned how the situation was allowed to persist for so long when GB Power’s computerised systems are able to track billing and energy consumption histories and spot any sudden drop in usage below the norm. This newspaper understands the situation was caught by personnel from Tampa Electric, an affiliate of GB Power’s 100 percent owner, Emera, when they were brought in to conduct meter audits as part of a plan to change out customers’ existing meters.

UNIQUE VACATIONS LIMITED VACANCY Social Media Manager

Unique Vacations is looking for a Social Media Manager who will play a key role in the development, implementation, and optimization of various Social Media marketing initiatives. In this role you will need to handle several different tasks concurrently which requires working closely with management, agency partners, and cross-functional teams to coordinate resources and align objectives. The Social Media Manager should have a proven track record, and examples of previous successful campaigns. Job Summary: The Social Media Manager must have solid communication skills and tactical hands on experience optimizing Social Media campaigns. Data and analysis should come easily. You must be dynamic with your strategies and willing to adapt to the ever-changing marketplace. You think critically to solve problems and can always find a solution. Areas of Responsibility

NOTICE

IN THE ESTATE OF CAROL MOSS late of Chester’s Acklins, one of the Islands of the Commonwealth of The Bahamas, deceased. NOTICE is hereby given that all persons having any claims against the above-named Estate are required on or before the 28th day of March, 2019 to send their names, addresses and particulars of their debts or claims to the undersigned and if so required by notice in writing from the undersigned, to come in and prove such debts or claims or in default thereof they will be excluded from the benefit of any distribution AND NOTICE is hereby also given that all persons indebted to the said Estate are requested to make full settlement on or before the date hereinbefore mentioned AND NOTICE is hereby given that the expiration of the date hereinbefore mentioned, the assets of the Estate of the said CAROL MOSS, deceased, will be distributed among the persons entitled thereto having regard only to the claims of which the Administrators of the Estate shall then have had notice. DATED the 7th day of March A.D., 2019 PROVIDENCE LAW 16 Samana Hill Village Road North New Providence, Bahamas Attention: Mr. Merrit Storr

• Work with management to define and develop a comprehensive Social Media marketing strategy • Manage Social Media initiatives/campaigns to meet the business goals and enhance the customer experience and journey • Incorporate industry best practices and benchmark to competitor websites • Develop and distribute monthly business metrics/dashboards on performance, consisting of web, mobile, and email data • Manage the organization’s social media channels, e.g., Instagram, Twitter, Pinterest, YouTube, Facebook, LinkedIn, and more. Manage the communication of organizational messaging, news, and priorities by leveraging social media messaging • Work closely with the Executive Management team to develop social media campaigns that help to achieve corporate marketing goals • Create, curate, and manage all published content (images, video and written). • Develop relevant Social Media content topics to reach the company’s target customers • Manage and create Social Media publishing schedule • Monitor the company’s social media accounts and offer constructive interaction with users • Develop monthly reports on emerging social media trends that will be submitted to the management and executive teams • Provide training and launch on resort Social Media Photo Contest • Manage and curate all on resort User Generated Social Media Content (images, video and written) • Monitor emerging internet technologies. Identify opportunities to utilize emerging platforms to improve efficiencies • Develop strategies to introduce new methods to increase audience outreach and following, and further develop relationships to increase their engagement in programs • Manage relationships with third-party vendors handling social media management tools • Develop, execute and roll out On Resort engagement and ambassador programs • Effectively communicate the mission, vision, and values, and the importance of programs in public forums, events, and public awareness campaigns • Any other duties/projects as deemed necessary by management Experience/Skills/Qualifications: • 3+ years of Social Media and Content Management on agency or client-side • Bachelor’s Degree in Journalism/Communications/Media or equivalent • Experience with Social Media software • Experience with Google Analytics • Experience managing a medium-large brand • Ability to work with and lead external vendor/partner relationships including negotiating contracts and terms • Excellent time management, organizational, communication, and analytical skills • Preferred: travel industry experience • Preferred: Fluent in English, Spanish and French • Ability to travel as required, extended travel may be expected Only short-listed candidates will be contacted. Interested persons should submit their applications by March 26th, 2019 with curriculum vitae to

hrreport6@gmail.com

PAGE 6, Tuesday, March 26, 2019

THE TRIBUNE

UK lawmakers seize Brexit agenda in bid to break deadlock LONDON Associated Press BRITISH lawmakers seized a measure of control over the stalled Brexit process from Prime Minister Theresa May’s foundering government yesterday, setting up a series of votes that could dramatically alter the course of the UK’s departure from the European Union. The move came after May conceded that Parliament would defeat her twice-rejected divorce deal with the EU again if she put it to a third vote.

With Brexit delayed and the new departure date up in the air, the House of Commons voted to give itself temporary control of the parliamentary timetable starting tomorrow so lawmakers can vote on alternatives to May’s withdrawal deal. The government usually controls the scheduling of votes in Parliament. Lawmakers who backed yesterday’s motion, which passed 329-302, hope the planned “indicative votes” will narrow the options down to one that can secure majority support. Possible options include a “soft

Brexit” that maintains close economic ties with the EU or scrapping Britain’s departure altogether. Three government ministers quit their posts so they could back the motion. Richard Harrington, who resigned as a junior business minister, accused the government of “playing roulette with the lives and livelihoods of the vast majority of people in this country” by failing to resolve Britain’s Brexit impasse. The government said it was disappointed by the vote, claiming it “upends the balance between our

PROTESTORS for opposing views face off against each other, with proBrexit split from Europe at right, and pro-Europe anti Brexit at left, outside parliament in London yesterday. democratic institutions and sets a dangerous, unpredictable precedent for the future”. But it also conceded that the new votes might be a way to break the monthslong Brexit gridlock. May said she would “engage constructively” with the results of the process, though she said she was skeptical that it would produce a decisive result. The move raises the chances that Britain will tack toward a softer Brexit, and is likely to be welcomed by the EU. Guy Verhofstadt, the European Parliament’s Brexit coordinator, tweet that it was an “opportunity to build a cross-party cooperation leading to an enhanced political declaration & a closer future relationship!” Earlier in the day, May acknowledged, “with great regret”, that her deal still lacked “sufficient support” to be approved as of yesterday. She said she hoped to hold a third vote on the agreement later this week and was working to build support for the deal, which

MARKET REPORT MONDAY, 25 MARCH 2019

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

BISX ALL SHARE INDEX: CLOSE 2,120.64 | CHG 4.18 | %CHG 0.20 | YTD 57.07 | YTD% 2.77 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.50 2.15 1.15 3.50 10.21 6.60 4.64 12.50 2.74 1.81 9.02 6.40 15.60 6.99 4.47 13.85

52WK LOW 3.50 19.17 4.90 3.34 1.00 0.19 2.10 8.80 6.10 3.54 9.75 2.30 1.50 7.25 6.10 10.10 5.85 3.01 12.51

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 100.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

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 Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson 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

52WK LOW 100.00

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

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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

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

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

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.20 4.24 2.03 184.51 158.55 1.61 1.74 1.69 1.12 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.55 1.68 1.63 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

LAST CLOSE 4.25 17.43 6.00 5.39 2.15 1.15 2.22 9.85 6.16 4.50 10.64 2.57 1.79 9.10 6.40 15.57 6.98 3.45 13.85

CLOSE 4.25 17.43 6.00 5.39 2.15 1.15 2.22 9.85 6.16 4.50 10.64 2.61 1.79 9.23 6.40 15.57 6.98 3.54 13.85

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 0.13 0.00 0.00 0.00 0.09 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

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

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

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

VOLUME 115

200

2,000

VOLUME

EPS$ 0.147 0.932 -0.306 0.323 0.104 0.000 -0.523 0.700 0.480 0.154 0.627 0.102 0.209 0.000 0.481 0.762 0.578 0.277 0.631

DIV$ 0.130 1.260 0.000 0.240 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.060 0.060 0.084 0.240 0.500 0.200 0.090 0.600

P/E 28.9 18.7 N/M 16.7 N/M N/M -4.2 14.1 12.8 29.2 17.0 25.6 8.6 N/M 13.3 20.4 12.1 12.8 21.9

YIELD 3.06% 7.23% 0.00% 4.45% 0.00% 1.74% 0.00% 7.21% 3.57% 2.67% 5.83% 2.30% 3.35% 0.91% 3.75% 3.21% 2.87% 2.54% 4.33%

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 Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

NAV 2.20 4.24 2.03 184.51 147.81 1.61 1.74 1.69 1.12 7.47 8.64 6.60 10.37 11.69 10.38 9.92 8.69 11.79

YTD% 12 MTH% 3.97% 3.97% 2.49% 2.49% 2.43% 2.43% 3.26% 3.26% -3.65% -3.65% 0.76% 4.39% -0.03% 2.04% 0.51% 3.65% 1.03% 3.78% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 3.96% 7.75% 8.34% 14.88

MATURITY 19-Oct-2022 20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022 NAV Date 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 31-Dec-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018

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

BRITISH PRIME MINISTER THERESA MAY sets out the terms of withdrawing from the EU and the outline of future relations with the bloc. May warned opponents that continuing to reject the deal could lead to a “slow Brexit” that postpones the country’s departure indefinitely. With the March 29 Brexit day set almost two years ago days away and the withdrawal agreement lacking Parliament’s approval, European leaders agreed to a postponement last week to avoid a chaotic cliff-edge departure that would be disruptive for the world’s biggest trading bloc and deeply damaging for Britain. However, the EU granted a shorter delay than May sought. It said if Parliament approves the proposed divorce deal, the UK would leave the EU on May 22. If not, the government has until April 12 to tell the 27 remaining EU countries what it plans to do - leave without a deal, cancel Brexit or chart a path to a new option. In agreeing to the postponement, European leaders hoped Britain’s deadlocked politicians would find a solution to the crisis. But the EU isn’t counting on it. The European Commission said yesterday it had completed planning for a no-deal Brexit, calling that outcome “increasingly likely”. The EU said its members would be able to cope with a no-deal departure, although more remained to be done on ensuring an open border between EU member Ireland and the UK’s Northern Ireland — something both sides have agreed to. Checkpoints there were a source of tension and a target during the decades of sectarian violence before Northern Ireland’s 1998 peace accord. An EU official said the bloc was in “in intense discussions with the Irish authorities about these matters”. May stands little chance of getting the deal she struck with the EU approved unless she can win over Brexit-backing lawmakers in her Conservative Party and its Northern Irish ally, the Democratic Unionist Party. The DUP

said yesterday that the party’s “position remains unchanged”. May has come under intense pressure to quit the prime minister’s post as the price of winning support for the deal. At a meeting on Sunday at the prime minister’s country retreat, Chequers, prominent Brexiteers told May they might back the deal — if she agreed to step down so a new leader could take charge of the next phase of negotiations, which will settle Britain’s future relations with the EU. Former Foreign Secretary Boris Johnson, who attended the meeting and is likely to be a contender in any future Conservative leadership race, accused the government of lacking “gumption” and chickening out on delivering Brexit. Britain’s best-selling newspaper, The Sun, put a call on its front page for the prime minister to resign under the headline “Time’s up, Theresa”. May is hanging on, hoping she can persuade Brexit-backing lawmakers that rejecting her deal means Britain may never leave the EU. She told lawmakers that Britain would not leave the EU without a deal unless Parliament — which has already rejected the idea — voted for it. Opponents of Brexit feel the political tide may be turning in their favor. Hundreds of thousands of people marched through London on Saturday calling for a new referendum on whether to leave the EU or remain. But with the deadline for a Brexit decision less than three weeks away, British politicians remain divided, and increasingly despairing about the country’s political gridlock. “Brexit is like the Death Star of politics,” Conservative legislator George Freeman said. “I always feared it would be like this. It’s destroying and soaking up all the prime minister’s room for maneuver and political goodwill. “I’ve never known this country so divided, so angry and in such a dangerous state,” he said.