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WEDNESDAY, JUNE 12, 2019

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We’ve Airport seeks food outlet Consultant: waited too long for ready to bring its A game Small Business Act

HE Lynden Pindling International Airport’s (LPIA) operator said yesterday that it is looking for a food and beverage operator to bring its “A game” for the airport’s “most prime space”. The Nassau Airport Development Company has issued a request for proposal (RFP) for an operator for a “prime food and beverage concession” in the US Departures Terminal. According to the RFP, “proponents must be capable of designing, financing and operating an internationally branded concession located post security” in the US Departures Terminal of the airport. Jan Knowles, vice-president of marketing and communications noted that the RFP closes on July 26. “The space is located in the United States Terminal in a key position to the right just as you exit the escalator

LYNDEN PINDLING INTERNATIONAL AIRPORT and enter the US Departures Lounge United States Customs and Border Protection. It is the most prime food and beverage space in the airport and we are looking for capable proponents to operate the concession that should offer breakfast, lunch and dinner. It is not often that opportunities such as this one becomes available in the airport and we are looking for opponents that will bring their ‘A game’ for this key location in the US Departures Food Court,” said Ms Knowles.

She added: “While we have indicated internationally branded concessions, we are happy to consider any proposal for a well thought out, well-operated and marketed concession that will enhance and complement the current food and beverage offering.” The airport continues to boast of increases in passenger traffic. Over the Easter holiday weekend, it was estimated that more than 75,000 passengers moved through the three terminal buildings at LPIA. Some 27,000 passengers

were processed through the US Departures pre-clearance facility and Bahamas Immigration and Bahamas Customs processed more than 30,000 arriving passengers over the Easter weekend. Air Traffic Controllers also reported just over 2500 total aircraft movements (takeoffs and landings) during the same period. On June 17, 2019, NAD will begin an extensive runway rehabilitation project on Runway 09/27 (soon to be Runway 10/28) and Taxiway India at Lynden Pindling International Airport (LPIA). According to officials, the work will take place over a four to six month period with a total capital investment of just under $20m. For the duration of the project, LPIA will operate as a single runway facility. NAD has put contingency plans in place to reduce the impact to overall operations.

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A SMALL business consultant said yesterday that he is “disappointed” that after a decades-long wait there appears to be “very little movement’”towards the establishment of a Small Business Act to govern the sector, telling Tribune Business: “It’s been too long”. “I see no movement on the Small Business Act. All governments have promised that the Act would be introduced and it hasn’t happened. I am still optimistic the present government will legislate it but it’s taking too long. I formulated the structure of the Act and gave it to the government over nine years ago now,” said Mark A Turnquest, principal of Mark A Turnquest Consulting. Mr Turnquest, while lauding the work of the long-awaited Small Business

MARK TURNQUEST Development Centre (SBDC), noted that it still lacked the legislative framework needed to co-ordinate the multiple policies and agencies seeking to assist small and medium-sized enterprises (SMEs). He further warned that in the absence of the Small and Medium-Sized Enterprises Development Act, the SBDC and other agencies might end up competing with each other in a crowded SME assistance field.

SEE PAGE 2

CIBC takes it way back for New school seeks to put focus on individual needs employee appreciation

THROWBACK: Customers walking into any CIBC FirstCaribbean branch on Employee Appreciation Day got a throwback in time from employees dressed to represent different eras. The bank’s corporate and investment banking unit chose the 50s. STAFF at CIBC FirstCaribbean have been saluted by the company’s regional managing director as “the backbone of our institution”. The comments came from Marie Rodland-Allen during a toast from bank executives to staff members on Employee Appreciation Day. She said: “CIBC FirstCaribbean’s employees are the biggest and greatest asset that we have. It is really because of them that we have been named ‘Bank of the Year Bahamas’ for the ninth time in the past 13 years.” “They are the backbone of our institution,” she added. “We appreciate their hard work, commitment and dedication, and we set aside a day every year just to say thank you.” The bank’s employees dressed up in costumes from different eras to celebrate the day. Customers visiting CIBC

FirstCaribbean’s Sandyport branch took a step back in time to the 90s, and were served by employees dressed as iconic entertainers such as Missy Elliot, Tupac Shakur, and Janet Jackson. A visit to the bank’s Airport Industrial Park location showcased the best of the 70s, and featured an ‘appearance’ by civil rights activist Dr Martin Luther King Jr. And taking it way back in time was the corporate investment banking team who transformed their area into a 1950s diner. Executives, managers, and team leaders treated their teams to a number of fun activities such as team lunches, costume competitions, and karaoke throughout the day, and also gave away prizes and goodies. The bank’s chief executive officer, Colette Delaney, thanked

SEE PAGE 2

A NEW school is opening its doors in September – aiming to provide children with a path through education to suit their individual needs. Boost Academy is offering an alternative to the traditional education model, because the school’s founders, Jay Michael Phoenix and Sharleen Hanson, believe in accommodating different learning styles and interests, and preparing children for the modern world. Sharleen Hanson, director of the new school, said: “Often, children who struggle academically do so because they have had negative experiences with school in the past. We work to provide them with a renewed interest in learning

BOOST ACADEMY AT 51 MONTROSE AVENUE NORTH and the increased self-confidence to perform better in the classroom.” The new school will be based at 51 Montrose Avenue North, Nassau, and will be open from 7.30am to 4.30pm to allow early drop-off and late pick-up,

with the school day itself running from 8.30am-3pm. There will also be daily after-school homework help and clubs which will be free to students of Boost Academy. Hanson said: “We are a boutique ‘smart’ school,

encouraging children in grades 4-12 to develop critical thinking skills and to pursue their personal strengths and talents via our individualised learning pathways.” In her role at Boost Educational Services, she has assisted many homeschool families with setting their children on the right path, even helping a number of students to graduate earlier than anticipated through a combination of choosing the right curriculum and providing a high level of academic and emotional support. Their team has helped students explore various paths outside of their prescribed curriculum

SEE PAGE 2

More entreprenuers funded by Investment Group A MILLION-DOLLAR fund has picked out its latest young entrepreneurs to support. Joyce Adderley’s Bahama Mushrooms and Brandon Pearce’s Unique Rentals are both being supported through funding from The Investment Group, in a move that is part loan, part equity. Mrs Adderley, 32, is a married mother of five, who launched her business in 2017. The former teacher turned home-schooling mom launched the business as a way of helping the family finances, and drew upon her father’s experiences as a farmer. She grows organic gourmet mushrooms - a variety of oyster mushrooms,

JOYCE ADDERLEY

BRANDON PEARCE

MICK HOLDING

shitake, lion’s mane and chestnuts - using hydroponic tents to control the growing process. She tapped into grants from the government and the Port Authority and the business grew quickly. “We are at the point where we have been contacted by some food stores, but our facility is small,

so we need to expand to be able to meet demand,” said Mrs Adderley. “With backing from The Investment Group we’ll be able to move. The new space allows for new grow without tents, in addition to incubation, spawning, storage and lab areas.” The adventure in “fungus land”, as the entrepreneur

affectionally dubbed it, has had its share of ups and downs. “It’s been exciting. Even though I’ve had failures I learnt something with each of them. I’ve lost an entire grow, meaning my whole crop had to be discarded which taught me about

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PAGE 2, Wednesday, June 12, 2019

CIBC takes it way back for employee appreciation

More entreprenuers funded by Investment Group FROM PAGE ONE

FROM PAGE ONE employees for their “great ideas, amazing dedication, loyalty and support that have been truly impressive and thoroughly appreciated”. She noted it was their dedication and commitment that have taken CIBC FirstCaribbean to “a remarkable position” in the region.

THE TRIBUNE

SUPER Seventies: CIBC FirstCaribbean employees at their Airport Industrial Park location stepped onto the seventies scene with their funky and retro costumes.

NINETIES Nostalgia: CIBC FirstCaribbean’s Sandyport branch harnessed the nostalgia of the 90s and dressed as some iconic figures from the era, such as Missy Elliot, Janet Jackson, and Tupac Shakur.

molds and different types of contaminations. I then learnt what to look out for the next time around,” Mrs Adderley explained. “It’s been a roller coaster ride for sure. There are days when you feel like you could conquer the world, then there are days when you feel like, ‘What am I doing and what was I thinking?’ That’s fine, as long as you push through and know your goal. “I became an entrepreneur for my family. My husband is my number one supporter. We have five children to think of, so I want to leave something behind for them when I leave this earth. I’m not just pushing for me. I’m pushing for them.” Mr Pearce is a 29-yearold tour operator who launched his scooter rental business in 2010, marketed to cruise ship passengers. “I started with five on a rented lot in the downtown area for about a year before bringing on a partner and trading up to a high traffic location in closer proximity to the busy waterfront with coveted access to cruise ship passengers,” he explained. Mr Pearce increased his fleet by ten. In 2013, he said he was among the first to bring two dune buggies on stream. Then, lightning struck. Relying on his partner to keep current with the lease, Mr Pearce was surprised when the arrangement fell through leading him to temporarily shutter the business in 2017. “I realised I needed to structure the business better, seek adequate funding and do it properly, not half-way,” he said. “I slowly put a business plan together, found some new vehicles which I loved, put a business plan together for the excursions, contacted the cruise ships and

provided them with a taste of the proposed tour, which they loved.” Mr Pearce envisioned a Hummer excursion featuring a scenic drive around New Providence with beach time, snorkeling, kayaking, food and drinks at Nirvana Beach. The plan was to deliver two three-hour tours a day accommodating 18 passengers per tour. “If you want something, you have to have faith in it and believe it could work. You keep pushing and you don’t let people tell you it can’t be done,” he said. He approached The Investment Group to provide the necessary funding to purchase the vehicles - and was successful in his bid. Mick Holding, chairman of The Investment Group, said: “Both stood out as unique, quality candidates from the 63 which originally applied for funding. “What impressed us about these two people where them, themselves. They were convincing about their business plans, giving us the feeling, they can deliver. This is not just a funding group. We also offer guidance and mentorship. If that’s going to work, the personalities need to be right as well. “We can stay in with our equity stake. We can reduce it, or bail out, whichever we want to do. “The most important part of it is we have agreed to the formula for the exit so if at any point in the future we want to trigger it either in part or whole it is predetermined now what that process entails.” The pair marks the fourth and fifth commercial enterprises the $1m fund has dropped money into since its 2017 launch with newly acquired stakes in three companies – United Data Technologies Limited, KW Paving and Global Energy Solutions Limited.

Consultant: We’ve waited too long for Small Business Act FROM PAGE ONE Mr Turnquest said that legislation would help to ensure initiatives and efforts are not undermined by future administrations which may have a different philosophy. “I think it’s unfortunate that the Act has not yet been introduced because based on what we have seen in the past, if there is no legislation any initiative can be overridden. Another administration can simply come along and undo all the work because they may think things should be done differently.” “Once there is the the co-ordination and legal framework in place everything will be driven by the Act. The Act will outline what is expected and not expected of a small business. There is really no definition of a micro, small and medium-sized businesses in the country right now,” said Mr Turnquest. Deputy Prime Minister and Minister of Finance K Peter Turnquest during the 2019/2020 budget communication argued that every dollar invested in the

government’s flagship small business initiative generates an economic impact more than five times greater. He noted that every $1 injected into the Small Business Development Centre (SBDC) produces an additional $5.58 in economic growth via the micro, small and medium-sized businesses (MSMEs) it helps to expand. The SBDC has advised nearly 500 small, new and existing businesses/individuals across The Bahamas. Since its inception, they have invested well over 67,000 hours in advising, training, courses, and research and site visits, “ Mr Turnquest continued. “Further, there are roughly 61 companies still in the pipeline that are in the developmental stages where they are receiving advice and taking courses to be eligible for funding. It is estimated now that the funding that will be available to them is in the neighborhood of $7m. This means more companies will be started, more companies will be expanded, and more dreams will be realised,” said Mr Turnquest.

New school seeks to put focus on individual needs FROM PAGE ONE

including obtaining a certification in video editing, novel writing, song writing, and even assisting one young man in opening his own photography business at age 17. An important aspect of the program is that student to staff ratios are kept small – eight to one – so that children develop a strong rapport with their teachers and receive as much support as possible to be successful. She added: “We provide both face-to-face and online delivery of curriculum; emotional support services; scheduled one-on-one

tutoring; and physical education and swimming at Evolve Functional Fitness. “We think of ourselves as a value-added institution, as, unlike most schools that charge for additional tutoring, we are committed to providing any extra time needed to ensure that your child understands the curriculum and is able to keep up with the workload. Rather than wearing a uniform, students dress modestly and comfortably so that they can easily play outside during breaks. Any necessary textbooks are included.” Email info@boostbahamas.com to learn more about the school.

THE TRIBUNE

Wednesday, June 12, 2019, PAGE 3

Florida governor signs bill for foreign drug importation FORT LAUDERDALE Associated Press FLORIDIANS could eventually gain access to cheaper prescription drugs from Canada and other countries under legislation signed into law yesterday by Gov Ron DeSantis, if the federal government gives it a green light. The Republican governor signed the bill in The Villages, home to one of the state’s largest retirement-age communities. The US overall spends 30% to 190% more on prescription drugs than other developed countries and pays up to 174% more for the same prescription drug, according to a legislative bill analysis. The legislation allows creation of two prescription drug importation programmes subject to strict regulation: one involving importing drugs from Canada and a second calling for drugs to be brought in from unspecified other countries to be chosen later. DeSantis said President Donald Trump supports the initiative and has directed the US Health and Human

FLORIDA Gov Ron DeSantis speaks about the need to lower prescription costs by importing drugs from other countries yesterday at the Eisenhower Recreation Center in The Villages, Fla. Listening at right is state Sen Aaron Bean. Photo: Max Gersh/AP Services Department to approve it. If that happens, the plan would come back to the Florida Legislature for final enactment and

funding possibly next year. “The American people want to see change,” DeSantis said. “I don’t think they want to see us

paying more than everybody else in the entire world.” The governor appeared at a news conference with

SEEN AS PRO-BUSINESS, MACRON SHIFTS TO THE LEFT AT UN BODY GENEVA Associated Press FRENCH President Emmanuel Macron on yesterday called for an EU-wide minimum wage and a stepped-up fight against inequality, in what represents a return to his left-leaning political roots after critics have painted him as overly pro-business. In a speech to the UN’s main labour body, Macron alluded to the protests by the yellow vest anti-government movement in France that has shaken his balancing act as a promoter of business with roots in the Socialist Party — which he abandoned to set up his own centrist party. “France has gone through very difficult crisis in the last few months, which I have personally experienced as a type of opportunity,” Macron said in remarks that appeared largely targeted to a domestic audience that has questioned his qualifications as a center-left leader. The yellow vest movement, which has challenged Macron, has faded in

FRENCH President Emmanuel Macron delivers his statement, during the 108th session of the International Labour Conference - ILO Centenary Session, at the European headquarters of the United Nations in Geneva, Switzerland yestwerday. recent weeks. The movement started in November, when close to 300,000 protested around France. Violence and rioting overshadowed the protests, damaging the movement and putting his government on the defensive. At the centennial conference of the International Labor Organization,

Macron said he supported efforts to reduce inequality between women and men in the workplace, strike a minimum wage across the European Union, and ensure that no more international trade deals contribute to “economic and labour dumping”. In a bid to show he was listening to his critics, Macron said it was the failures of leaders “that lead to the success of the extremes” and warned that a crisis has put the world’s democracies “on the brink of war if we don’t watch out”. He insisted that his centrist government had at times come up with “the right responses”, but acknowledged that they had appeared too distant for many French people. Macron was joined by heads of state and government including German Chancellor Angela Merkel and Russian Prime Minister Dmitry Medvedev. Many addressed threats to traditional jobs posed by automation and artificial intelligence and called for more multilateralism to

address global problems. Medvedev warned that the global order was under threat and lamented the negative impact of “illegal sanctions, protectionism and trade wars”. It was a notso-veiled reference to the United States, which is on the cusp of a trade war with China and has slapped crippling sanctions on Iran. The US is represented in Geneva beneath ministerial level. British Prime Minister Theresa May focused on the fight against modern slavery and highlighted some accomplishments under her tenure — which has been largely overshadowed by her inability to strike a Brexit deal with the European Union.

House Speaker Jose Oliva, a Miami Lakes Republican who pushed for the bill, and other sponsors including Republican Sen Aaron Bean of Jacksonville. Oliva said lobbying was intense from the pharmaceutical industry and other groups opposed to the measure. “We were going up against the greatest force in America, which is Big Pharma,” the speaker said. “We were able to get it done the right way.” Indeed, the Pharmaceutical Research and Manufacturers of America issued a statement moments after the event ended condemning the measure and saying it jeopardizes Floridians’ health by possibly allowing contaminated, counterfeit and ineffective prescription drugs into the marketplace. “As we’ve warned time and time again, this reckless policy could have a devastating impact on patient safety,” said Priscilla VanderVeer, vice president of the organisation. “Today is a sad day for Floridians.” Bean, however, said sufficient safeguards are built into the plan to ensure any drugs from Canada or

other countries are safe and effective. He said the pharmaceutical industry doesn’t want US drug prices to go down. “They tried to scare you. They love that you pay the highest drug prices on the planet,” he said. Still, there are questions about whether Canada would permit its lowercost drugs to be sold in the US in the first place and how much a new regulatory framework for foreign drugs might cost Florida taxpayers. One of the new programs is for state-funded entities such as Medicaid and the prison system and the other involves importing drugs to be sold directly to consumers through pharmacies. The second faces more federal government hurdles in order to become law. Vermont last year became the first state in the nation to enact a prescription-drug importation law but it has not submitted an application to the federal health agency. Congress in 2003 enacted a law permitting states to import drugs subject to federal approval, but none have done so yet.

NOTICE The Board of Directors of Benchmark (Bahamas) Ltd. at its May 2018 Board meeting voted unanimously to establish a policy for future dividend payments. The Board has declared its annual dividend for the year 2019 of one cent per share and a special dividend of one cent per share to shareholders of record 20 June, 2019 payable on the 30th June 2019

Brent Roberts Secretary Benchmark (Bahamas) Ltd.

PAGE 4, Wednesday, June 12, 2019

THE TRIBUNE

Investors should guard against tunnel vision on trade wars NEW YORK Associated Press ONCE this trade-war cloud gets lifted, investors should have little to worry about, right? Monday’s market action makes it seem that way: Stocks around the world climbed after President Donald Trump withdrew a threat to impose tariffs on Mexico, at least for now. That leaves investors hoping for a deal to soothe the more contentious and complex trade dispute with China, which helped sink stocks last month.

TRADER John Romolo works on the floor of the New York Stock Exchange. It may seem like the market should take off once all the trade-war worries dissipate. But investors have a long list of worries that have nothing to do with tariffs. But there are other concerns that shouldn’t be overlooked.

Economic trends were already signaling trouble before the latest round of

tariff-induced fear. Friday’s surprisingly weak jobs report, where employers added far fewer jobs than economists expected, gave extra pause. Corporate profits are also under pressure. “If the administration fixes the problem it created, I’m sure there will be a short-term pop in the stock market,” said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments. “However, I believe it’s only short-term because ultimately that will not remedy the underlying fundamentals, which are just not strong.” Of course, many along Wall Street are still forecasting gains for stocks this year. Much of the optimism rides on analyst forecasts for profit growth to accelerate later this year. Plus, stock prices are looking like better values following their tumble in recent weeks. Perhaps most importantly, the Federal Reserve has intimated it may come to the market’s rescue again and cut interest rates if the trade war swamps the economy. But skeptics say optimists aren’t looking closely enough at all the troubles getting overshadowed by trade disputes. Among the concerns: • SLOWING ECONOMIC GROWTH, EVEN BEFORE THE LATEST TRADE SKIRMISHES The bright spots for the US economy are still clear: The job market is solid,

as long as Friday’s disappointing report doesn’t herald something more lasting. The unemployment rate at 3.6% is at its lowest since 1969, and consumers are feeling relatively confident. That’s key when consumer spending accounts for two thirds of the economy. But skeptics point to other recent economic reports that showed weakness in April, before this latest round of trade worries flared up. Among them: another drop in North American freight shipments, slower manufacturing growth than economists expected and weaker business spending on equipment. Michael Wilson, equity strategist at Morgan Stanley, sees a warning flag in falling profits for many retailers. While the industry’s overall figures for the first quarter may look decent due to big gains for Amazon, Nordstrom and other retailers saw big declines. That could be an early sign that US consumers, whose spending is such a key part of the economy, may be less willing to spend in coming months. “Get ready for more potential growth disappointments even with a trade deal,” Wilson wrote in a recent research report. • LACKLUSTER PROFIT GROWTH Companies across the S&P 500 reported roughly flat earnings for the first three months of 2019, as they’re no longer getting the big boost of the first year of lower tax rates. But analysts are more optimistic about trends later this year and are forecasting growth to accelerate to 7% in the fourth quarter, according to FactSet. That’s key because stock prices tend to track the path of corporate profits over the long term. But skeptics say those projections are too high. Barry Bannister, a strategist at Stifel who was among the first voices on Wall Street to turn cautious on stocks last year,

Legal Notice

NOTICE VAZE ASSET MANAGEMENT LTD. NOTICE IS HEREBY GIVEN as follows: (a)

VAZE ASSET MANAGEMENT LTD., is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b)

The dissolution of the said Company commenced on the 6th June, 2019 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c)

The Liquidator of the said Company is Shareece E. Scott of Deltec Bank & Trust Limited, Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.

Dated this 12th day of June, A.D. 2019

Shareece E. Scott Liquidator

expects earnings in the second half of 2019 to fall short of analysts’ projections, particularly in the technology, health care and energy industries. With the dollar’s value strong and US manufacturing slowing, he’s looking for CEOs to give profit forecasts for the second half of 2019 that fall short of analysts’ expectations, with announcements coming as soon as next month, when companies begin reporting their second-quarter results. Companies are also paying higher wages to their workers, and average hourly earnings rose 3.1% in May, which raises their costs. Compare that against the consumer price index, which gives a window into how easily companies can pass along price increases to their customers, notes Chun Wang, senior analyst at Leuthold. CPI inflation hasn’t been that high since 2011, and it was at 2% in April. All those pressures could bring down profit margins for companies, which have recently been at record highs. If companies aren’t able to extract as much profit from each $1 in revenue, they’ll need to make up for it by delivering more in sales. A slowing economy would make that tough. • POLITICS ARE ALWAYS LOOMING Even beyond trade talks, politics can sway markets. In Washington, regulators may be setting the stage for antitrust probes into some of the biggest tech companies. Amazon, Apple, Google’s parent and other mega-tech companies have been some of the market’s best-performing stocks in recent years, and losses for them have outsized effects on S&P 500 index funds. Consider June 3, when nearly three quarters of all the stocks in the S&P 500 rose, but the overall index fell 0.3% because big technology companies had a bad day. In the Middle East, the Trump administration has pledged “maximum pressure” on Iran. Beyond the possibility of violence, the increasing tensions could send the price of oil soaring, as well as inflation, which has long been dormant. In Europe, Britain is still negotiating its exit from the European Union, and investors are worried about signs of increasing tension between the bloc and Italy. “So, fixing the China situation does not fix the rest of the world,” said American Century’s Weiss. “Is it a positive? Sure. It’s positive in the short term, but it doesn’t remedy all the other things we have going on.”

THE TRIBUNE

Wednesday, June 12, 2019, PAGE 5

TARIFF DEAL GIVES MOMENTUM TO ‘REMAIN-IN-MEXICO’ POLICY SAN DIEGO Associated Press IN A cramped San Diego courtroom, immigrant mothers cradled restless babies and toddlers as they waited to go before a judge. After a quick exchange, they were whisked back to Mexico where they face months, or possibly years, before their cases play out in the US. Hundreds of miles away, a judge in El Paso, Texas, noticed that an infant was fussing and let the child’s mother stand up and burp the baby before shipping her and about a dozen others, including six pregnant women, back to the Mexican border city of Juarez. “I am afraid to return to Mexico and I’m about to have my baby,” a pregnant woman from Honduras told the judge, her belly pushing out against her red shirt as she blew her runny nose. Nearby, another Honduran woman waited with her two young children, who began to fidget about an hour into the hearing. The 5-year-old boy hummed to himself while teasing and tickling his 7-year-old sister. Scenes like these playing out in US border courtrooms in recent weeks would become even more common under a deal that led President Donald Trump to suspend his threat of tariffs on all Mexican exports to the US. A centerpiece of the agreement calls for rapid expansion of a policy that makes Central American asylum seekers wait in Mexico while their cases wind through US immigration courts. The policy got off to a modest start in January in San Diego and then expanded to El Paso while surviving an initial court challenge from critics who call it a violation of long-standing protections for asylum seekers. The Mexican government said last week that 10,393 Central Americans had been returned to Mexico since the end of January to await court proceedings. The administration has yet to say when and where the policy will be expanded. The policy targets Central American families who have overwhelmed the US immigration system in recent months, forcing authorities to release them into the US while they await court appearances. The Trump administration hopes that fewer migrants will come if they know they’ll have to wait in Mexico. It’s too early to say if the policy will achieve that, but the surging numbers of family arrivals show it has yet to have the desired effect. Border arrests rose to a 13-yearhigh in May, with El Paso slowly approaching Texas’ Rio Grande Valley as the busiest corridor for illegal crossings.

Asylum seekers — and the Mexican border cities that host them — face a large and growing backlog of cases in US immigration courts. For some, it could take years for their court cases to be resolved. During that time, migrants need to work and send children to school. Migrants at El Buen Pastor shelter who were returned to Juarez on May 23 were not given hearing dates in El Paso until next February. The Rev Juan Ferro, who manages the Methodist shelter, said he no longer imposes a 15-day cap on how long people can stay, realising that migrants could be in his city for the long haul with few options. “We are living in uncertainty,” Ferro said. “We don’t know how to guide the migrants because we are in the same situation as the migrants. ... We don’t know what’s going on.” Many say they feel unsafe waiting in Mexico and have had trouble contacting American attorneys willing to cross the border to give legal advice. Tijuana registered the most homicides of any Mexican city in 2018, followed by Juarez, according to the Justice in Mexico project at the University of San Diego. Expanding the policy to Texas’ Rio Grande Valley would create more risk because it borders Tamaulipas, the only Mexican border state that the US State Department says Americans should avoid due to crime and kidnapping. The “remain-in-Mexico” policy was first applied to single adults but quickly expanded to include families, who account for more than half of Border Patrol arrests. Guidelines for agents in San Diego say the policy should target Spanish speakers and migrants from Latin America, but exempt Mexicans and children traveling alone. The Department of Homeland Security said Monday that Mexico had for the first time agreed to “full and immediate expansion” of the policy but it has not said when and where that will happen. As the policy is applied to more remote areas, asylum seekers will have to travel longer distances for hearings. In Mexicali, a large Mexican border city, they must travel 120 miles to Tijuana by bus or — if they’re lucky, in an immigrant rights activist’s car — to report at the Tijuana border crossing by 9am. US Immigration and Customs Enforcement buses then take them to the San Diego courtroom. In San Diego last week, US immigration authorities kept a close watch on a group of immigrants as they waited to go before the judge. When a baby started to whimper, authorities signaled for the child’s mother to wait in the hallway.

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PAGE 6, Wednesday, June 12, 2019

THE TRIBUNE

States sue to stop $26.5 billion Sprint-T-Mobile deal

NEW YORK Associated Press A GROUP of state attorneys general led by New York and California filed a federal lawsuit yesterday to block T-Mobile’s $26.5bn bid for Sprint, citing consumer harm. The state attorneys general said the promised benefits, such as better networks in rural areas and faster service overall, cannot be verified, while eliminating a major wireless company will immediately harm consumers by reducing competition and driving up prices for cellphone service. New York Attorney General Letitia James said in a statement that combining the two companies would reduce access to affordable, reliable wireless service nationwide and would particularly affect lower-income and minority communities in New York and other urban areas. Other attorneys general joining yesterday’s lawsuit are from Colorado, Connecticut, the District of Columbia, Maryland, Michigan, Mississippi, Virginia and Wisconsin. All ten attorneys general are Democrats. The lawsuit was filed in US District Court in New York.

NEW York Attorney General Letitia James, centre, speaks during a news conference, yesterday in New York. A group of state attorneys general led by New York and California filed a federal lawsuit yesterday to block T-Mobile’s $26.5bn bid for Sprint, citing consumer harm. Photo: Mary Altaffer/AP The lawsuit is an unusual step by state officials ahead of a decision by federal antitrust authorities. The Justice Department’s decision is pending. The Republican majority of the Federal Communications Commission supports the deal, though the agency has yet to vote. Too many “mega mergers have sailed through the governmental approval process”, so it’s up to the states to “step up”, James said at a news conference. “There’s no rule or regulation that we have to wait for the DOJ,” she said. She added the attorneys general

will “continue to litigate whether the DOJ approves the merger or not”. Diana Moss, the president of the American Antitrust Institute and an advocate for tougher antitrust enforcement, said the states’ lawsuit could signal to other potential merger partners that there would be tougher enforcement from states even if the federal government permitted deals to go through. James said yesterday that her office’s renewed focus on mergers and anti-competitiveness goes beyond the tech industry, though

LEGAL NOTICE

N O T I C E

NOTICE

EXXONMOBIL EXPLORATION AND PRODUCTION ROMANIA (DOMINO DEEP) LIMITED

_____________________________________

N O T I C E IS HEREBY GIVEN as follows:

____________________________________________

(a)

EXXONMOBIL EXPLORATION AND PRODUCTION ROMANIA (DOMINI DEEP) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(b)

The dissolution of the said Company commenced on the 28th day of May 2019 when its Articles of Dissolution were submitted to and registered by the Registrar General.

Creditors having debts or claims against the abovenamed Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 24th day of June, A.D., 2019. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 12th day of June, A.D., 2019.

The Liquidator of the said Company is M. Pedercini, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.

(c)

she did not elaborate. T-Mobile and Sprint have argued that they need to bulk up to upgrade to a fast, powerful “5G” mobile network that competes with Verizon and AT&T. The companies are appealing to President Donald Trump’s desire for the US to “win” a global 5G race. Consumer advocates, labor unions and many Democratic lawmakers worry that the deal could mean job cuts, higher wireless prices and a hit to the rural cellphone market. Amanda Wait, an antitrust lawyer and former Federal

M. Pedercini Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

Dated the 12th day of June, 2019. HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

www.bisxbahamas.com

(242) 323-2330

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,152.05 | CHG: 0.02 | %CHG: 0.00 | YTD: 42.60 | YTD%: 2.02 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.50 2.60 2.00 3.10 11.05 6.17 4.64 12.50 2.74 1.96 9.51 7.00 15.60 7.75 3.75 14.00

52WK LOW 3.50 19.17 4.90 3.85 1.00 0.19 2.00 8.89 6.13 3.54 10.00 2.35 1.60 7.50 6.10 11.00 6.20 3.01 12.51

PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00

1.00 103.00 100.00 100.00 105.00 103.00 100.00 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 1.00

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 Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ

E J K L M N

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

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

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)

LAST CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.45 10.00 2.70 1.85 9.77 7.00 14.45 7.50 3.16 14.00

CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.45 10.00 2.74 1.85 9.76 7.00 14.45 7.50 3.16 14.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 -0.01 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 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

VOLUME

500 13,032

VOLUME

EPS$ 0.167 0.932 1.760 0.323 0.098 0.000 -0.438 0.708 0.480 0.184 0.627 0.102 0.209 0.000 0.611 0.743 0.939 0.205 0.631

DIV$ 0.130 1.260 0.000 0.250 0.000 0.020 0.000 0.720 0.220 0.120 0.620 0.068 0.060 0.328 0.240 0.500 0.200 0.090 0.600

P/E 25.0 18.7 N/M 16.7 N/M N/M -5.0 15.6 12.8 24.2 15.9 26.9 8.9 N/M 11.5 19.4 8.0 15.4 22.2

YIELD 3.11% 7.23% 0.00% 4.63% 0.00% 1.03% 0.00% 6.52% 3.57% 2.70% 6.20% 2.48% 3.24% 3.36% 3.43% 3.46% 2.67% 2.85% 4.29%

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%

MATURITY 19-Oct-2022

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%

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

YTD%12 MTH% 1.22% 3.96% 0.74% 3.42% 0.97% 2.67% 2.06% 4.97% 4.52% 0.96% 1.57% 4.58% 0.99% 4.25% 1.32% 4.12% 3.22% 5.64% -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% 7.40% 2.70% 10.20% 1.30%

NAV Date 30-Apr-2019 30-Apr-2019 26-Apr-2019 31-Mar-2019 31-Mar-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019

MUTUAL FUNDS 52WK HI 2.23 4.27 2.05 188.32 158.55 1.62 1.76 1.70 1.15 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 1.56 1.68 1.64 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.23 4.27 2.05 188.32 154.49 1.62 1.76 1.70 1.15 7.66 8.94 6.71 11.25 11.94 10.59 9.92 8.68 11.38

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

5G network and invest in rural broadband on a specific timeframe or pay penalties. It also promised to sell off Sprint’s prepaid Boost Mobile brand and keep price increases on hold for three years. That was enough for FCC Chairman Ajit Pai to back the deal. The other two Republican commissioners indicated they would join him. But public-interest advocates said these conditions did not address concerns about higher prices and reduced competition— and would be difficult for regulators to enforce. The Justice Department evaluates deals using stricter criteria than the FCC’s “public interest” standard — namely whether they harm competition and raise prices for consumers. Staff attorneys at DOJ have reportedly told the companies they won’t approve the deal as proposed, but the ultimate decision lies with Makan Delrahim, the top antitrust official who is a political appointee. The state attorneys general said in Tuesday’s lawsuit that combining Sprint and T-Mobile would make the industry as a whole — Verizon and AT&T, too — less likely to offer plans and services that consumers like. And they say the companies have already been working to roll out 5G and don’t need to combine to do so. Japanese tech conglomerate SoftBank owns Sprint, while Germany’s Deutsche Telekom owns T-Mobile.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I,CALVIN MCDOWELL HANFIELD of Ann’s Drive and Roberts Street, Winton Meadows, P.O. Box EE-17018, New Providence, Bahamas intends to change her name to CALVIN MCDOWELL HENFIELD. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-792, Nassau, New Providence, The Bahamas no later than thirty (30) days after the date of the publication of this notice.

NOTICE

MARKET REPORT TUESDAY, 11 JUNE 2019

Trade Commission lawyer, said states are acting because they disagree with what they have seen the federal government doing. “They see the FCC accepting certain remedies and concessions that don’t, in their minds, solve the problem,” she said. T-Mobile declined comment. Sprint and the Justice Department did not immediately respond to requests for comment. One famous example of when the states and federal government diverged on a big antitrust case was in the fight against Microsoft, although that was not a merger case. Several states dissented from the Justice Department’s settlement roughly 20 years ago, pushing for tougher sanctions to curtail Microsoft’s ability to use its dominance in the Windows operating system to thwart competition in other technologies. More recently, in the Bayer-Monsanto agribusiness merger, five states last year criticised the federal government’s approval. T-Mobile and Sprint previously tried to combine during the Obama administration but regulators rebuffed them. They resumed talks on combining once Trump took office, hoping for more industry-friendly regulators. T-Mobile has a reputation for consumer-friendly changes to the cellphone industry. T-Mobile and Sprint led the return of unlimiteddata cellphone plans, for example. T-Mobile, trying to reassure critics, promised the FCC it would build out a

NOTICE is hereby given that AGELIE CHERFRERE TERNELUS of Carmichael, Bacardi Road 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 5th day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that RICARDO FLORESTANT of #95 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 5th day of June, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE Peppercorn Management Limited Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas Registration Number 109802B (InVoluntary Liquidation) Notice is hereby given that the above-named Company is in dissolution, commencing on the 31st day of May A.D. 2019. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Crowe Bahamas, Suite # 0587, 7 Albany Street, Nassau,The Bahamas, P.O. Box AP-59223. Email andrew.davies@crowe.bs. Persons having a Claim against the above-named Company are required on or before the 12th day of July A.D. 2019 to mail and email their names, 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 claim is proved. Dated this 12th day of June A.D. 2019

______________________________ Crowe Bahamas Liquidator

THE TRIBUNE

Wednesday, June 12, 2019, PAGE 7

China mum on Trump-Xi meeting as Huawei says sales slowing SHANGHAI Associated Press ATTENTION is turning to a possible meeting of President Donald Trump with Chinese leader Xi Jinping at a summit in Japan later this month as the next step in the vexing trade standoff between the two biggest economies. The Chinese government would not confirm yesterday that such a meeting will take place. “We note that for some time, the US has made multiple public statements that it looks forward to a meeting between the two heads of state during the G-20 Osaka Summit,” Foreign Ministry spokesman Geng Shuang told reporters in Beijing when asked about the issue. “We will release information on this when we have it.” Trump has imposed 25% tariffs on $250bn worth of Chinese exports and is preparing to expand them to cover another $300bn. Beijing has hit back with its own retaliatory tariff increases. Trump wants China to commit to curbing its longstanding, huge trade surplus with the US. The conflict also reflects deeper concerns over China’s ambitions to help its own industries gain a lead in key technologies such as robotics and artificial intelligence. Nearly a year after Trump began imposing the higher tariffs to ramp up pressure on Beijing, hopes are focused on a possible top-level compromise to

break a stalemate in talks that were suspended last month. Trump said in an interview with CNBC’s “Squawk Box” on Monday that if Xi doesn’t meet with him at the Group of 20 major economies gathering in Osaka, more US tariffs on Chinese exports may go into effect, though he expects Xi to attend. No talks are planned in Beijing or Washington before the Osaka event, US Treasury Secretary Steven Mnuchin told reporters over the weekend. Each side is blaming the other for the logjam in negotiations. “We do not want a trade war, but we are not afraid of fighting one,” Geng said, reiterating earlier statements. “If the US is ready to have equal consultations, our door is wide open. But if it insists on escalating trade frictions, we will respond to it with resolution and perseverance.” Meanwhile, at a consumer electronics show in the business hub of Shanghai, a top executive of telecom gear maker Huawei Technologies hinted that pressure from Washington on other countries to exclude it from next-generation, or 5G, telecom networks is taking a toll on its sales. Huawei vaulted past Apple to become the number two global smartphone brand behind South Korea’s Samsung last year, as its total sales surged almost 20% to exceed $100bn.

“If we had not encountered anything unexpected, we would have become number one in the world by the fourth quarter,” Huawei’s chief strategist, Shao Yang, said yesterday at the Consumer Electronics Show in Shanghai. “But now we have to wait a little bit longer to achieve that,” he said, without referring directly to President Donald Trump or the trade war. Washington last month put Huawei on a blacklist that effectively bars US firms from selling to the company without government approval. US officials have accused Chinese technology companies such as Huawei of stealing trade secrets and threatening cybersecurity — possibly at the behest of the ruling Communist Party. Chinese authorities say the United States is exaggerating security concerns to block a potential competitor. Huawei has denied it would share user secrets with the Chinese government and demanded that the US provide evidence to show that such a risk exists. Earlier, it insisted that the trade friction with Washington was not taking much of a toll on its global business. But US officials have made it their mission to persuade other governments to avoid working with Huawei, warning that Washington might not share sensitive information with allies if they are using Huawei equipment and networks that the

Washington suspects could be compromised. Apart from the US pressure, which has effectively shut Huawei out of the world’s most lucrative market, growth in smartphone sales overall has been slowing. And some phone carriers, such as Japan’s SoftBank Corp and KDDI, have delayed sales of Huawei brand smartphones to assess their safety, potentially detracting from earlier forecasts. In his comments to the electronics show, Shao said the company will march on in its development of the technology. “People see 5G, but we see beyond that,” he said. “Those who are not brave will not progress, they will lag behind. So everything that we do is to define our direction in the new round of competition.”

To advertise in The Tribune, contact 502-2394 LEGAL NOTICE

NOTICE

International Business Companies Act (No. 46 of 2000)

TAVISTOCK VENTURES INC. Registration Number: 1399 B Pursuant to the provisions of Section 138 (8) of the International Business Companies Act, 2000 notice is hereby given that TAVISTOCK VENTURES INC., has been dissolved and has been struck off the Register of Companies with effect from the 24th day of May, 2019. _____________________________________ GSO CORPORATE SERVICES LTD. Liquidator

PAGE 8, Wednesday, June 12, 2019 WASHINGTON Associated Press THE meeting between acting Defense Secretary Patrick Shanahan and his Chinese counterpart began with all the hallmarks of a routine staged and scripted session between two uneasy rivals. First came the posed photo, as the two men shook hands with broad smiles in front of their nations’ flags, and then they moved quickly into the hotel conference room, surrounded by staff. There, Shanahan presented Chinese Defense Minister Wei Fenghe with a gift. But what at first glance looked like a coffee table book was actually 32 pages of photographs and satellite images of North Korean ships getting and delivering shipments of oil. Many of the photos are stamped with dates, times, locations and descriptions, and, according to officials, represent proof that Pyongyang is violating punishing economic sanctions right off China’s coast. “I gave him this beautiful book,” Shanahan said a day after his meeting with Wei and his top staff at a national security conference in Singapore. “I said this is an area where you and I can co-operate.” The pointed message from the acting Pentagon chief comes as the Trump administration is at odds with China over a wide range of issues, including trade, Chinese theft of American technology, the possible sale of US weapons to Taiwan and how to pressure North Korea into giving up its nuclear weapons programme. China agreed to the UN sanctions against its ally and neighbour North Korea, but, as the photo book illustrates, appears to be allowing violations to take place. On one page of the book viewed by The Associated Press, a photo shows the North Korean-flagged oil tanker Kum Un San 3 next to the M/V New Regent, a Panama-flagged tanker, and a number of lines and hoses are draped between the two ships. The photo is dated June 7, 2018. The UN, in an October 2018 press release, said the

THE TRIBUNE

US ‘gift’ to China shows unenforced North Korea sanctions

ACTING US Secretary of Defense Patrick Shanahan, left, shakes hands with Chinese Minister of National Defense Gen Wei Fenghe, right, during a ministerial luncheon on the sidelines of the 18th International Institute for Strategic Studies (IISS) Shangri-la Dialogue in Singapore. Shanahan sat down with his Chinese counterpart during his recent trip to Singapore and presented him with a photo book with a pointed message. The book looked like a coffee table book and was presented as a gift. But it was 32 pages of photos and satellite images of North Korean ships near China’s coastline involved in oil shipments that violate international sanctions. June 7 ship-to-ship transfer was a violation and said it likely involved oil. The UN sanctioned the two ships and said they are subject to deflagging and prohibited from entering UN member ports. Another photo in the book shows the North Korean tanker An San 1, and says it is “offloading refined petroleum” through an undersea pipeline at the terminal in Nampo, near Pyongyang. Lt Col Joe Buccino, a Pentagon spokesman, said

Shanahan devised the book to show that enforcement of UN sanctions off the Chinese coast is “an area for potential coordination and collaboration” with the Chinese military. A US defense official said Shanahan had the photographs and information in the book declassified and bound. Shanahan presented the book to Wei at the start of their meeting, saying he had a gift for the minister, said the official, who spoke on condition of anonymity

to discuss a private meeting. The official said Wei initially appeared taken aback at receiving a gift, but when he realised what it was he quickly turned it over to his staff. During the meeting, Shanahan told Wei that the US and Chinese navies could work together to prevent such violations of the UN sanctions, said the official. “It’s actually very clever,” said Bonnie Glaser, director of the China power project at the Washington-based

Center for Strategic and International Studies. “It’s really calling out China. This is a way of telling them that we know what’s going on, we have quite a bit of evidence, and here’s an opportunity for you to expand co-operation with the United States.” Glaser, who also attended the Singapore conference, said she spoke with members of the China delegation and they described the meeting between Shanahan and Wei as positive and upbeat. No one, she said,

mentioned the book. “I think it was probably embarrassing,” she said. “They probably thought they were getting something wonderful, that would highlight something positive, not something calling out China for their failure to step up and crack down on North Korea.” The oil and trade sanctions against North Korea have hurt its already struggling economy, and both Russia and China have called for easing them. China isn’t likely to want to openly evade the sanctions and face diplomatic friction with the United States, but more than 90% of North Korea’s foreign trade has gone through China. The UN Security Council in March said North Korea was continuing to defy its resolutions through a “massive” increase in ship-to-ship transfers of petroleum products and coal. The US Navy has been working with a number of countries, including South Korea, Japan, Australia, New Zealand, Canada and France, to catch sanctions violations such as ship-to-ship transfers. Shanahan’s meeting with Wei at the Shangri-La Dialogue security conference earlier this month came just the evening before he delivered a speech that denounced China’s efforts to steal technology from other nations and militarise manmade outposts in the South China Sea as a “toolkit of coercion”. But he also made clear the US wants to work with China on other international issues.