Citation
The Tribune

Material Information

Title:
The Tribune
Uniform Title:
Tribune (Nassau, Bahamas)
Portion of title:
Nassau tribune
Place of Publication:
Nassau, Bahamas
Publisher:
Tribune
Publication Date:
Copyright Date:
2008
Frequency:
Daily, except Sunday
daily
normalized irregular
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

Genre:
newspaper ( sobekcm )
newspaper ( marcgt )
Spatial Coverage:
Bahamas

Notes

General Note:
Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item.
Resource Identifier:
09994850 ( OCLC )

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Full Text
“TRY Oj mR

McFLURRY
CHIPS AHOY

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$4m FINCO loag a
rei Nn Ibi Vehicle duty

lm By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

FOR fear of an all out “war”,
police are increasing their pres-
ence around the Doris Johnson
Senior High School today after
a student there, robbed and lat-
er stabbed two students from
RM Bailey High yesterday.

An update on. the condition




gs CLOUDS, SUN
so and STORM



BAHAMAS EDITION

EEO EPIDUIN
| €USA TODAY
]

FRIDAY, MAY 30, 2008

+ ‘Major’ underestimate on $129m

= Stamp UI TH AC)

Stabbing sparks
school war fears

Police increase
presence around
Doris Johnson
Senior High

of the two students from the

Princess Margaret Hospital was
not available up to press time;
however it is understood that
one student was stabbed three
times in the back, and the other,
once in his side.

While officials at Doris John-
son remained tight-lipped about
the incident, an eye-witness told

SEE page 15

Govt under pressure to
stop Bimini project phase

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

GOVERNMENT has been
told that “if Bimini is to be
saved” it must stop the devel-
opers of the Bimini Bay Resort
from continuing with phase II of
_ their project.

Jean-Michel Costeau (pic-
tured), grandson of world-
famous ocean-explorer and con-
servationist Jacques Cousteau,
issued this clarion call in a two-





eth LXer) °° atixeS ee

9° LICCGIEE ocd] ©
= ° adie kjStreet]/Northi-acable Becch We

page article
that appeared
recently in the
international
magazine,
“Diver.”
Both he
and his broth-
er, Fabien
Cousteau,
have focused great attention on
the project's environmental
impact, with Fabien creating a

SEE page 10






Felipé
Major/
Tribune
staff



THE BLOODY aftermath of the latest example of school
violence.

Caution urged on
gas-saving device

AN expert urged caution over a new gas-saving device designed
to cut motorists’ fuel bills.

While hydrogen-based systems are feasible, they require sound .
engineering design, plus proper operation and maintenance prac-
tices, it was claimed.

His comments came after Nassau brothers Bernard and Tyrone
Miller acquired a business licence for their “water convertor”
device which they claim saves gas and guarantees cheaper motor-
ing.

They are hoping to help other Nassau motorists save money by
installing their distilled water containers, which convert:water into
hydrogen and oxygen and prevent gas from overworking.

In advising caution yesterday, the expert cited the Schatz Ener-
gy Research Centre, which offers a variety of safety practices with
regard to the hydrogen formula.

“The principal hazard presented by hydrogen systems is the

SEE page 15











3 a & les?
Burrito







-actice murder



| Jurors return a unanimous

verdict on ‘brazen’ shooting

By NATARIO McKENZIE

A JURY yesterday unani-
mously found James McKenzie
guilty of the murder of Kevin
Dean who was shot multiple
times during a “brazen attack”
while attending a junkanoo
practice in December 2006.

The 12-member jury returned.

with the unanimous verdict

*.-after.some two: hours.of delib-....

erations. The Crown is seeking
to have McKenzie, 24, receive

the death penalty for the mur-
der. Mckenzie’s sentencing for
the murder conviction has been
deferred as a sentencing hearing
will take place first.

The prosecution called 17 wit-
ness during the week-long trial
which was heard before Justice
Stephen Isaacs. In her closing
arguments yesterday, Deputy
director of au Ren seo BONS

SEE page 15

PLP: Tax cuts an attempt
to make up for ‘blunder’

THE tax cuts announced by
the prime minister in the budget
presentation represent an
attempt by the government to
make up for their “blunder” of
stopping and reviewing con-
tracts left in place by the PLP
government, charged the leader
of the PLP.

. “What the government is now
attempting to do, and again
shamelessly so, is to make up
for their blunder, the time that
has been lost and the pain and
suffering they have inflicted, by
introducing a budget that will
over compromise its revenue
base,” said Perry Christie at a
news conference at the office
of the leader of the opposition,
surrounded by members of his




Partial Cabinet
SJOLUIsi Comoe mer tKen

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net








A careful study of the bud-
get reveals that the prime
minister will soon reconfig-
ure the ministries in his gov-
ernment, leading to at least a
partial redistribution of port-
folios for several ministers.

“The country is owed an
explanation on the apparent
changes made to ministries
and portfolio allocations,”
said Opposition leader Per-
ty Christie at a press confer-
ence at his Parliament Street
office.

SEE page 16














CORONADO

PR EON EF

“For 50 years Coronado Paint has been the choice
of painting professionals, providing paints with
lasting performance and consistant quality.”



caucus.

He said
that the
opposition
does sup- .
PL OF Eat
“meaning-
ful tax
reductions
to citi-
zens” but
the gov-
ernment
must explain how it expects a
|revenue increase of $137 mil-
lion this fiscal year even though
there are no new or significant
tax increases, and the economy
is only expected to grow by 2
per cent in real terms.

SEE page 10

Call for Millar’s
Creek alleged

abuse probe

OVER a thousand letters
calling for an independent
investigation into alleged abuse
by officials at Millar’s Creek
have been sent to Police and
Government officials from
around the world.

Amnesty International publi-
cised allegations made by
Emmanuel McKenzie, chair-
man of the Millar’s Creek
_Preservation Group, and hun-
dreds of witnesses, who claim
armed police and immigration
officers burst into the non-prof-
it organisation’s fundraising
event at The Banana Tree Cafe

SEE page 16



AA] sts

Wulff Road
Opposite Mackey Street
Tel: 393-0512, 393-8006,

OR 393-3513

Open Monday to Friday 7am -4pm
Saturday 7am - 3pm





PAGE 2, FRIDAY, MAY 30, 2008

THE TRIBUNE





Capital expenditure allocation increased |
to upgrade nation’s infrastructure

The government has
increased by 11 per cent to $250
million its provision for capital
expenditure in the 2008/2009
budget.

This, Prime Minister Hubert
Ingraham said, is a signal of its
continued commitment to mod-
ernising and expanding the
nation’s infrastructure.

Mr Ingraham outlined allo-
cations and highlighted infra-
structural works planned for the
fiscal period during his presen-
tation of the government’s bud-
get communication to the
House of Assembly on Wednes-
day.

‘Allocations °

Sums allocated to ministries
and departments under the cap-
ital budget include:

e Department of Public
Works: $ 87 million

¢ Ministry of Education: $31
million

e Royal Bahamas Police

' Force: nearly $5 million

e Royal Bahamas Defence
Force: $3 million

¢ Department of Environ-
mental Health Services: $6 mil-
lion. |

“I am pleased to advise that
progress on the redevelopment

of the Lynden Pindling Inter-
national Airport is on course,”
Mr Ingraham said. “The $400
million dollar project will pro-
vide for the construction of a
new US Departure Terminal, a
new International Departures
Terminal and a new Domestic
Terminal.”

The first phase of the con-
struction costing some $86 mil-
lion will commence during this
budget period with the start up
of construction of the US
Departure Terminal.

The prime minister advised
that some 25 per cent of the
design work for the new termi-
nal will be undertaken by
Bahamian architects and engi-
neers.

Construction plans

“T also advise of plans under-
way to cause to be constructed a
60,000 square foot plus govern-
ment office complex in New
Providence,” Mr Ingraham told
parliamentarians. “The complex
will properly and appropriately
accommodate a number of Ber

ernment agencies.”

A similarly sized office com-
plex will be constructed in
Freeport, Grand Bahama where
land has already been identi-



“I do want to point
out that in the
2008/2009 budget
we are providing a
higher level of
transparency... than
has ever.been done
before.”



Hubert Ingraham

fied to accommodate customs,
immigration, labour officials
and the passport offices.

A third government office
complex is to be constructed in
Central Abaco to provide suit-
able office accommodation for
government administrative
agencies on the island.

“Work will resume on the
magistrates’ court complex on
Nassau Street,” the prime min-
ister said. “We will also under-
take and complete another
interrupted refurbishment pro-
ject at the former City Market
Complex on Market Street.
That complex is to accommo-
date the offices of the registrar

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A good business
plan is based on a
sound strategy.

unit and valuation unit. This is
known as ‘priming the pump’.”

The government, he added,
will initiate work for the con-
struction of a new judicial com-
plex to accommodate the
Supreme Court and the Court
of Appeal.

The 2008/2009 budget also
anticipates the commencement
of major works in Nassau Har-
bour including dredging to per-
mit the harbour to accommo-
date larger cruise ships coming
on stream this and next year.
Works are scheduled to com-
mence before the end of the cal-
endar year.

“The dredge material will be
used to create a boardwalk
extending from Prince George
Wharf eastward to Armstrong
Street creating opportunities for
the development of a prome-
nade bounded by restaurants,
specialty stores and entertain-
ment establishments,” Mr
Ingraham noted.

“It is also expected that the
dredging of the harbour will
provide sufficient material to
facilitate the expansion of
Arawak Cay westward, or alter-
natively the creation of a sec-
ond artificial island connected
to the mainland by a bridge or
causeway, to accommodate the





relocated commercial port,
which will be in the Arawak
Cay area.”

In a related development, an
inland depot will be developed
to receive storage cargo off-
loaded at Arawak Cay and
moved inland overnight, there-
by avoiding congestion now
associated with cargo move-
ment during peak traffic hours,
the house was told.

Other projects

“I do want to point out that in
the 2008/2009 budget we are
providing a higher level of
transparency with respect to
subvention to government agen-
cies than has ever been done
before,” Mr Ingraham said.

“In this budget, we allocate
$28 million to Bahamasair. We
fully expect any shortfall in
Bahamasair’s financial needs to
be met by its business opera-
tions. We don’t expect them to
come back.”

The budget provides $19 mil-
lion to the Water and Sewer-
age Corporation, $3 million for
the installation of potable water
for Green Turtle Cay, Abaco
and $11.7 million for the Broad-
casting Corporation of the
Bahamas.

- THIS NOAA satellite image taken Thursday, May 29, 2008 at 01:45 PM EDT shows a swirl of clouds off

the coast of Central America in the Eastern Pacific Ocean associated with Tropical Storm Alma. The
storm will make landfall along the north coast of Nicaragua as a possible weak hurricane Thursday

evening. This storm will cause devastating flooding and strong winds.

@ MANAGUA, Nicaragua

TROPICAL Storm Alma
slammed into Nicaragua’s
northwest corner Thursday,

' near the city of Leon, becom-

ing the first such storm of the
eastern Pacific season, accord-
ing to the. Associated Press.

Heavy wind and rains
knocked out power, forced
evacuations, and flooded low-
lying areas all along Central
America’s Pacific coastline.

Alma’s maximum ‘sustained
winds were near 65 mph (100
kph) but the storm was expect-
ed to weaken as it heads inland
over Honduras. Thursday
afternoon, it was moving at 9
mph (15 kph.)

Nicaragua’s Radio Ya
reported that a 30-year-old
man was electrocuted in Tras-
bayo, 40 miles (60 kilometers)
southeast of Managua, after a
power line snapped under high
winds.

“It’s raining like I’ve never

seen,” teacher Socorro Alvarez
said in Leon. “We hope God
has mercy on us.”

The fast-growing storm took
forecasters and many in Cen-
tral America by surprise. Resi-

' dents scrambled to prepare for

the storm before it hit.
Some 1,200 emergency offi-
cials were evacuating hundreds

: of people from flood-prone

areas. Heavy rains and flood-
ing knocked out power to some
sections of the country.

People crowded Managua
supermarkets to buy food,
water, candles and batteries,
and schools canceled classes
and were on standby to become
temporary shelters.

Many flights were also
grounded, and at least one
small plane carrying five people
had to make an emergency
landing in the Caribbean
coastal city of Bluefields
because of bad weather condi-
tions.

The storm wrapped the Cos- -

ta Rican capital of San Tos ose ina
dense fog, slowing traffic to a
crawl and causing dozens of
accidents. Heavy rains also
forced the cancellation of a soc-
cer final.

Along the coast, some 200
families were evacuated to
more than 160 storm shelters
set up after Alma dumped rain
over the country for 24 hours.
Landslides blocked a few high-
ways.

“Last year, a little water
came in the house, but now it is
completely flooded,” Clara
Bermudez said as she was taken
by boat to a shelter in Parrita.

In the beach town of Garza
de Guanacaste, residents began
cleaning up after the worst of
the storm had passed.

“The winds were terrible,”
Maria Baltodano said.

Forecasters warn it could
dump as much as 20 inches (50
centimeters) of rain in places.

The eastern Pacific hurricane
season began May 15.

Weather Underground/AP Photo

‘Three shark
attacks have
Mexico resort
area in panic
@ ZIHUATANEJO, Mexico

NO ONE could even
remember a shark attack
along this resort-studded
stretch of Mexican coast pop-
ular with surfers and Holly-
wood’s elite. Many of the
large predators had been
pulled from the ocean by fish-
ermen, according to the Asso-
ciated Press.

So when sharks attacked
three surfers in less than a
month, two fatally, it was
unthinkable.

The latest attack came Sat-
urday, when a shark chomped
down on the arm of surfing
enthusiast Bruce Grimes, an
American expat who runs a
surf shop in Zihuatanejo.

Grimes and a handful of
other surfers were out on
dark, choppy waters when he
felt something lift his board.
He managed about five
strokes before teeth sank into
his arm. “Shark!” he
screamed, wresting his arm
back. Grimes made it to
shore, escaping with a few
gashes.

“There wasn’t any time to
panic,” he said. “I thought:
*Don’t want to die. Don’t
want to lose my arm.”

Only later did the 49-year-
old Florida native learn a
local surfer had been killed
by a shark at a neighboring
beach the previous day. Less
than a month before that, a
visitor from San Francisco
was killed while surfing
another nearby beach.

Before that, shark attacks
‘were unheard of here. Uni-
versity of Florida expert

i George Burgess was in the

area Wednesday interviewing

witnesses, going over autopsy |

reports and checking out
beaches to find out why the
sharks had suddenly become
SO aggressive.

Burgess’ International
Shark Attack File records an
average of only four fatal
shark attacks around the
world each year. This year,
there has been at least one
other recorded shark fatali-
ty outside Mexico — a 66-
year-old triathlete killed at
Solana Beach, Calif.

The attacks around Zihu-
atanejo have puzzled experts
and, alarmingly for local busi-
nesses, the mayhem is keep-
ing tourists away.

After the first fatality, pan-
icked officials strung lines of
baited hooks offshore and
slaughtered dozens of sharks,
drawing international criti-
cism. Authorities planned to
meet Thursday to seek
Burgess’ advice.

Marine biologist Chris
Lowe, who runs the shark lab
at California State University,
Long Beach, said there is lit-
tle officials can do beyond
trying to keep people out of
the water and studying why
sharks have suddenly turned
so aggressive. Hunts don’t
usually help, he said.

Lowe also said officials
should keep the attacks in
perspective.

“People have a much bet-
ter chance of dying of food
poisoning going to Mexico
than being bitten by a shark,”
he said. “It’s far more dan-
gerous driving to the beach
than it is getting in the
water.”

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R

os



|
|
|
:
|

Cae ae entree



THE TRIBUNE

LOCAL NEWS

FRIDAY, MAY 30, 2008, PAGE 3



© In brief

Major cultural
festival this
weekend at
Eight Mile Rock

@ BY DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - A major cul-
tural festival will be held at
Eight Mile Rock this week-
end to bring people of vari-

ous cultures together on

Grand Bahama.

Ministry of Tourism officials
announced that the first annu-
al International Cultural Fes-
tival will take place on May
31 at the St Stephen’s Parish
Park.

The event is being organ-
ised by the EMR community
tourism focus group. It will
begin at 3pm and will feature
cuisine from several cultures
and musical performances, as
well as crafts and jewellery.

According to a spokesper-
son, attendees will be able to
learn about Haitian, Jamaican,
Filipino, and Turks and Caicos
culture, among others.

There will be live presenta-
tions and performances by
gospel and marching bands,
and local choirs on the island.

The highlight of the evening
will be live entertainment pro-
vided by Wilfred Solomon and
the Magnetics, the Conch
Juice Band, Swingers
Junkanoo Group and a dance
medley by the New Wave
Dancers.

Booze Cruise
captain dies of
burn injuries
after explosion

BOOZE Cruise captain
Carroll Burrows died of burn
injuries after an explosion on
the boat at the Nassau Yacht
Haven.

The 52-year-old father of 10
was on the ship when there
was an explosion in the engine
and fire on the boat.

He was treated for burns in
a Miami hospital but died this
week,

Cpt Burrows’ wife June
Burrows said it has been a ter-
rible shock to her and the fam-
ily.

His funeral will be held
tomorrow at Temple Baptist
Church in Farrington Road at
11am.

Friends can pay their last
respects at Demeritte’s Funer-
al Home in Market Street
from 10am to 6pm today and
tomorrow at the church from
10am until service time.

The burial will be at Lake-
view Memorial Gardens in
JFK Drive, Nassau.

your

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.



INSIGHT |

For the stories behind :
: the news, read Insight :
om on Magen: :

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
MRO KOL

Tropical Exterminators
322-2157



We are acting on wholesalers’ food
price concerns, says government

Slow pace of reviewing cost increases request blamed for shortages

@ BY ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

THE government says it is
addressing the concerns of
wholesalers who complain
that the slow pace at which
the Price Control Commission
is reviewing their requests for
price increases is leading to
shortages of basic food SUS
plies on shelves.

Alphaeus Forbes, deputy
permanent secretary of
Affairs, said yesterday that the
wholesalers’ “exasperation”
has been brought to the atten-
tion of the government, “and
directives were given-to come
to some sort of resolution.”

This comes after a sales
manager at a leading grocery
wholesaler, who wished to
remain anonymous, said that
the seriousness of the situa-
tion and its potential to impact
the supply. of food was such
that government must deal
with it “now and not later.”

Another manager, Jeff
Albury of Island Wholesale,
said that with the recent
volatility in the global econo-

my, combined with “ineffi- J

ciency” at the Price Control
Commission, Bahamian con-
sumers can expect to see one
of two unpleasant alternatives:
having to pay exorbitant
prices for food stuffs, “or find-
ing nothing on the supermar-
ket shelves at all.”

“The powers that be need
to be very cognisant of this,
and wake up with a plan,” he
added.

His statement reflects the
concerns of the Bahamian
wholesale industry in gener-
al, representatives of which
have claimed that the govern-
ment’s Price Control Com-
mission is not dealing rapidly
enough with their applications
for price changes on price-
controlled items.

Managers say the landed
cost of these items has risen
so much that soon, they will

no longer be able to make a ~

profit on their sale due to the

fixed profit margins mandated -

by the government.

The situation has put a
peculiarly Bahamian slant on
the global food crisis. Where-
as in recent months, interna-
tional news reports have sug-
gested that there could be
worldwide shortages in the
availability of products like
rice, wholesalers in this coun-
try say that they have experi-
enced no shortage of suppliers
willing to sell to them —
instead, it is the delayed
response: of the PCC once
their products are landed
which is causing the problem.

Price-controlled items
include foods like rice, grits,
bread and corned beef.

Industry insiders say that at

PEO?

PRODUCT OF BRAZR. -

LT BET WEIGHT

reaissag)



“More staff has to be a.
decision of the Cabinet to take.

While that may lend some sort

of easement to it the process is
still there. Certainly more staff
would help. but that’s not an
admission that we don’t have

enough staff.”



a minimum, the PCC takes
two weeks to reply to their
applications, and at maximum,
seven weeks.

While wholesalers wait for

their newer, more costly stock .

to be approved for sale at a
higher price, their pre-
approved stock sells out — pre-
cipitating a supply shortage.
“T would be surprised if
(staff at the PCC) are not
totally overwhelmed right now
if they were being candid,”
said the anonymous industry

* source.

Mr Forbes said he feels that
wholesalers are often “unfair”

_in their claims about the

length of the process, but
added that as his ministry is

Alphaeus Forbes

ab lihedor stakeholder icons

cerns it will do “whatever’s
required to bring an easement
of situation.”

He added however that
stakeholders should be mind-
ful that the legal process by
which prices are reviewed is
designed to protect con-
sumers.

‘ Mr Forbes added: “More

staff has to be a decision of
the Cabinet to take.

“While that may lend some
sort of easement. to it the

_ process is still there.

“Certainly more staff would
help.

“But that’s not an admis-
sion that we don’t have
enough staff.”

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“ISLAND WHOLESALE says that their international supplier has informed
them that the cost of a case of corned beef will go up by 80 per cent in the
next two months.”

Felipé Major/Tribune staff

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TR ae







PAGE 4, FRIDAY, MAY 30, 2008 THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited ~—/ Tapping the
potential of
Arawak Cay

Beach, The Grove (Croton



LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S:, B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas EDITOR, The Tribune.
wat Avenue) down West Bay throu
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama ARAWAK Cay container port i 5 | | | Bales Paap Skyline rue

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986.
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
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Freeport fax: (242) 352-9348

Terrorism and the Olympics

KASHGAR, China — The reports of terror
plots emanating this year from this Muslim
region in the far west of China might seem fan-
ciful: A foiled plot to blow up a plane; a cache of
TNT. to bomb the Summer Olympics; even a
“violent terrorist gang” that planned to kidnap
Olympic athletes.

But these aren’t whispers on the Internet.
They’re reports coming from the Chinese gov-
ernment. So I flew out here to Kashgar — an
oasis on the ancient Silk Road, where the
minarets and camels and carpets provide a Mid-
dle Eastern ambience — to look for terrorists.

Instead, China’s State Security Ministry found
me. I had been in Kashgar just a few hours
when my videographer, who is ethnically Chi-
nese, called to say that two plainclothes offi-
cials were interrogating him. They asked him

not to tell me since American journalists tend to -

be touchy about such things.

The interrogation was a sign of the authori-
ties’ anxiety about stability in China’s Muslim
west. Separatists here in the Xinjiang region
aim to create the nation of “East Turkestan”.
and have periodically blown up police stations
— even bombed three public buses in 1997.

The Chinese government has claimed that ~

162 people were killed in such terror attacks
by Uighur separatists between 1990 and 2001.
Meanwhile, China has sentenced more than
_ 200 people to death since 1997 for r engaging in.
such separatist crimes.

Last year; Chinese officials said that-18 ‘peo='
ore had been killed when police taided’a Uighur’

terrorist training camp with ties to al-Qaida.
The raid netted 1,500 grenades.

Then in March, China announced that it had
foiled a plot “to create an air crash,” in a pas-
senger plane shortly after it took off from the
Xinjiang capital of Urumai. In April, the author-

ities said that they had confiscated explosives ~

from Uighurs who were planning suicide bomb
attacks.

“This violent terrorist gang secretly plotted to
kidnap journalists, visitors and athletes during
the Beijing-Olympics,” The Associated Press
quoted Wu Heping, a spokesman for the Public
Security Ministry, as saying.

Then just*this month, a crowded bus blew
up in Shanghai, killing three people and injuring
many more. No one publicly claimed responsi-
bility, but it recalled the 1997 Uighur bus bomb-
ings. Ronald Noble, the secretary-general of
Interpol, cited these incidents — and also
reports of a separatist plot to disrupt the
Olympic Games with poison gas — and told a
news conference that a terror attack at the
Olympics was “a real possibility.”



It’s not entirely clear what to make of all this,
for as I strolled-around Kashgar I found the
situation remarkably calm. I wasn’t expecting to

uncover a terrorist cell, but I had anticipated :

more hostility toward the government. Ordi-
nary Uighurs I spoke with offered measured
complaints, but they weren’t seething as
Tibetans are.

“Nobody likes it when the Chinese all move
in here,” said a Uighur shop-keeper. “Of course,
we're all upset. But what can we do?”

One young woman offered a different take.

“When I was a little kid, my Mom would tell me,
‘Don’t wander, or the Han Chinese will steal
you away. They eat human flesh.”’ She laughed
and added: “But now we see more Han, and
we’re not afraid of them. Relations are OK.”

Some young Uighurs criticised the Beijing
Olympics, saying the games will drain local bud-
gets. But I could have found stronger anti-gov-
ernment sedition on any street corner.of Man-
hattan. '

The only excitement I found in Kashgar was
playing pied piper to State Security. officers
who tailed me whenever I left the hotel.

Normally, the Chinese government plays .

down security risks, but human rights groups
argue persuasively that China is using concerns
about Uighurs as an excuse to crack down on
-peaceful Uighur dissidents. After 9/11, China
declared its own war on terror in Xinjiang, but

w"fluman. ‘Rights Watch and Amnesty Interna-

tional’ have documented that this often has tar-

“gétéed Uighurs who are completely nonviolent.

Unfortunately, the Bush administration has
largely backed this Chinese version of the war
on terror. Indeed, a Department of Justice
report this month suggests that American troops
softened up Uighur prisoners in Guantanamo
Bay on behalf of visiting Chinese interrogators.
The American troops starved the Uighurs and

prevented them from sleeping, just before invit- °

ing in the Chinese interrogators.

That was disgraceful; we shouldn’t do China’s
dirty work. It was one more example of the
Bush administration allowing the war on terror
to corrode our moral clarity.

We should encourage China to tolerate
peaceful protesters even as it prosecutes ter-
rorists. But instead of clarifying that distinc-
tion, in recent years we have helped China blur
it. The risk of terrorism during the Olympics is
real, but that shouldn’t force us to do violence to
our principles.

(This article was written by Nicholas D. Kristof

c.2008 New York Times News Service).



THOUGHT FOR THE WEEK

“YOU CAN’T BREAK GOD’S
PROMISES BY .
LEANING ON THEM”

SUNDAY SERVICES
7:00am, 9:00am, 11:15am

PASTOR EARLE FRANCIS J.P.,D.D.
Marriage Officer, Counsellor, Intercessor
‘Phone: 323-6452 ¢ 393-5798
Fax: 326-4488/394-4819

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in The Bahamas.

— just moving an eye-sore up the
street.

I would tend to accept and sup-
port if Nassau Harbour was a
mixed-use port with a higher per-
centage on freight than leisure
that what you decide to put on
Kelly Island or as it is now known
Arawak Cay does not really make
a difference — as they would say;
ugly goes with ugly very well.

Nassau Harbour receives over
2.3 million cruise ship visitors a
year so I suggest that the Gov-
ernment needs to look primarily
at them when they deliberate
what will dominate for the future
the entrance to Nassau Harbour.
We are going to spend probably
over $60 million to deepen the
harbour to receive bigger and
more visitors so we put ugly at
the entrance!

It will be so ironic as this FNM
Government openly embraces
and funds to the fullest The
Bahamas National Trust and all
things environmentally correct
and then decides to place ugli-
ness at the first landfall of New
Providence, Arawak Cay. We
have the beauty on the Paradise
Island side of the entrance of the
majestic lighthouse — so pic-
turesque which will now overlook
and be damned to the future of
ugly containers, noise and basic
ugliness on a piece of land man-
made to build hotels and a con-

__ vention centre back in the 1960’s.

Why.are the 15 Cabinet Minis-
ters so naive and lacking foresight

-to the potential value of Arawak

Cay? We hear complaint after
complaint from the cruise lines
and the lack of participation by
Bahamians in the tourism product
and that Nassau has nothing to
do — let me give you a concept
that Bahamians could develop on
Arawak Cay which would change
that. Successive governments
have refused to grant licences to

explore shipwrecks with the price

of gold today imagine with 50
peer cent of the bounty coming to
the Treasury what a tourist attrac-
tion based around pirating —
shipwrecks and the traditional
craft of gold would bring? Unique
except there is something like it in
Key West where the finders of

the el Torca wreck and because

there is a creativeness in the City
Council of Key West they have
developed a considerable attrac-

tion out of this which droves of

tourists visit.

This themed development

could attract further expansion
of themed Fish Fry and add rides
and historic experiences aid
develop the traditional craft of a
Goldsmith and clusters of stores
offering locally produced gold
jewellery. Of course what this

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letters@tribunemedia.net



government wants is ugly con-
tainers to be the first sight of his-
toric Nassau as the cruise liners
sail in and leave with the back-
ground of what you can see of Ft
Charlotte as the billboards
around the cricket oval grow big-
ger and bigger!

I must congratulate the total

naivety of cabinet, but then this
whole process has been cloaked
in secrecy and many ask will the
proposal ever go to the public for

at least their views? We were

promised trust and transparency!
Can’t see either.

After the meeting last week of
Minister Larry Cartwright and
the Fish Fry folk it is obvious
what can only be described as the
misuse of valuable public land is a
done deal and the “foreign” ship-
ping companies with high level
local connections coming up the
rear seems to rule.

It is said with the new port of
Arawak Cay in place containers
will only be permitted to be
moved between 2am and 6am —
has for a second anyone thought
what will be the horrific noise and
environmental degradation of the
silence of the night through Chip-

pingham, Oakes Field, Saunders

down to Gladstone Road? Who
cares that thousands of Bahami-
ans will be trying to sleep through
these hours?

The heavy 12-wheel bulk sand
and rock trucks rumbling through
the silence of the night down
West Bay Street, Cable Beach
out to Bahamas Hot Mix (Symon-
ette’s business) will further annoy
thousands of residents in Killar-
ney/Old Delaporte and Clifton
constituencies — those proper-
ties will loose value as noise is

- something no property owner ,

wishes. One looks for peace and
tranquility but who cares, -cer-

‘tainly the MPs for those areas

Minister Minnis and Kendal
Wright don’t seem to.

By the way in the circles of
those interested in investigating
what is left of our shipwrecks that
there has a result of government’s
lack of understanding and horrif-
ic amount of illegal exploration
and plundering of many of the
known wrecks. As usual govern-
ment’s asleep at the helm missing
everything and disinterested in
what is an obvious and could be
such an economic asset to our
waning tourism and potential
craft, goldsmith industries.

C CUNNINGHAM
Nassau,
May 24, 2008.

Change labour law, please

EDITOR, The Tribune.

LABOUR Day and the majority of employees will not be repre-
sented or are their conditions of employment safeguarded in the same

“manner as those who are represented by a union — fundamentally dis-

criminatory and in violation of the Constitution.

Yes, any organisation who credit themselves to represent say 15-
16,000 is recognised by agy Government as that grouping has influence
and political clout.

The largest unrepresented Labour group in The Bahamas which suc-
cessive governments of The Bahamas refuse to recognise in any man-
ner are those who are not unionised and 365 days in a year give excel-
lent productive labour. However, if anyone of this majority gets into a
labour-employment dispute God save them as the Ministry of Labour
— the Director of Labour — may not intervene however wrong that
dispute may be.

I plead with Senator the Hon Dion Foulkes, Minister of Labour, that
he will announce this upcoming Labour Day that immediately that the
powers of the Minister and the Director of Labour will be extended to
include all gainfully employed persons whether or not they are repre-
sented by a union.

I have not checked the so often touted ILO Conventions by the union
leadership but I am sure that this inequality and discrimination of
unionised labour has to be in violation of some ILO Convention or the
ILO is a total farce.

Minister Foulkes — Rt Hon Hubert Ingraham — change the Labour
Law immediately to include any person who is employed may call on
the negotiating and intervention of the Minister and/or The Director
of Labour in a dispute — it is only fair and supportive of the supreme
Law, The Constitution.

GELLIOTT

Nassau,
May 22, 2008.

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THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 5



E LOCAL NEWS

- Immigration bribery reports under investigation



Tommy Turnquest

rRew is t

I

‘GOVERNMENT is spending
millions of dollars to upgrade law
enforcement agencies through-
out the country to combat crime,
according to a senior official. -
Missouri Sherman-Peter, per-
manent secretary at the Ministry
of National Security and Immi-
- gration, said however that the
Bahamian public must commit
to “getting off the sidelines” and
~ joining the fight against crime if
! the government’s efforts are to
‘ have the desired results.
Addressing a panel discussion
on crime and criminality hosted

Oo bow ean ee

Vt

m By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE are investigating
media reports that a
Guyanese man paid immigra-
tion officials more than
$1,000 for unauthorised entry
into the country, Minister of
National Security Tommy
Turnquest revealed yester-
day.

In a news report which
aired Wednesday night, a
Guyanese national claimed
he came into the country
from Guyana via Barbados
earlier this year without prop-
er documentation and paid
officials $1,500 to allow him
entry.

The man, whose identity
was concealed, also report-

by the Bahamas National Baptist
Missionary and Educational
Convention, Mrs Sherman-Peter
said communities must fully
realise “that the game is on the
field, and not on the sidelines.”

“We cannot lay blame for our
crime and immigration prob-
lems at the feet of the police,
the Royal Bahamas Defence
Force, the Department of Immi-
gration, the politicians, or at the
feet of church leaders or oth-
ers,” Mrs Sherman-Peter said.
“These problems are society-
wide problems for which we

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to shareholders along with the annual report
for the year ended December 31, 2007
during the week of June 2, 2008.



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Guyanese man claims he
paid officials to enter country

edly claimed he is using the
Bahamas as a transit point to
the United States and had
paid almost $9,000 to human.
smugglers who were planning
to sneak him into the US ona
small boat.

Fearing his life would be at
stake aboard a tiny vessel
during high seas, the man said
he backed out of the deal -
which left him stuck in the
Bahamas, out of thousands of
dollars and no way to return
home.

Mr Turnquest said the
report was brought to his
attention yesterday morning

must all take responsibility. We
must all get off the sidelines and
get onto the field.”

Mrs Sherman-Peter said “get-
ting onto the field” means stop-
ping the practice of encouraging
and protecting family members,
members of the community and
friends who break the law.

She said Bahamians must
stop accepting money and gifts
from such persons, and not
allow criminal acts to go unre-
ported to the relevant authori-
ties.

Mrs Sherman-Peter also
pointed out Bahamians com-
plain about illegal immigration,
but are prepared to employ

‘ persons without the requisite

permits.
_ She said it is imperative that
Bahamians honestly swear affi-
davits or other documents that
would give persons status in our
country.

“Stop swearing an. affidavit
that says a person was born in |
the: Bahamas when you don’t !
have a clue as to where they
were born,'or'you know ‘that !
they were not born here,” she |
said. “It is also imperative that
Bahamians and legal residents
of the Bahamas do not abuse
the privilege of citizenship or
residency to move illegal immi-
grants into and through our
country. Marriages of conve-
nience, introduce people whom
we do not know into our com-
munities — it is imperative: this
does not happen.”

ie
UU
FOR PEST PROBLEMS
PHONE: 322-2157

INSIGHT

For the stories behind
the news, read Insight
on Mondays



P.0.Box EE-15844
Ph: 465-4485,

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Madeira St. [242] 325-8233 © Robinson Rd.[242] 322-3080



and police are currently look-
ing for the Guyanese man for
questioning.

"All I can say is that report
was brought to my attention
this morning and the police
are now trying to find the
gentleman as we speak to find
out what he knows".

When asked if the Depart-
ment of Immigration knew the

identity of the officials accused .

of accepting bribes, Mr Turn-
quest said that information
cannot be verified until police
question the illegal immigrant.

Last month, the bodies of 14
Haitian nationals were recov-

Bahamians encouraged to continue
to help in the fight against crime

Mrs Sherman-Peter acknowl-
edged that there is a positive
side to what appears to be a
negative picture; in that there is
optimism among citizens and
residents that the current situ-
ation regarding crime and ille-
gal immigration “is not one of
permanence.’

She said that civil society,
including the churches, neigh-
bourhood watches, crisis cen-
tres and others are proactively
seeking to‘reshape the country
and to bring back morals, val-

‘ues, ethics and integrity.

The permanent secretary
pointed out that this has
augured well for critical law
enforcement initiatives of the
Ministry of National Security
and in, particular, the Royal
Bahamas Police Force.

“The Neighbourhood Com-
munity Policing Initiative and
the Liveable Neighbourhoods
Programme are particularly
exemplary 4 in that regard,” she
said. ton

aad fraceleiriiesd

ered by the RBDF in the
shark infested waters between
New Providence and Bimini,
just off Lyford Cay.

Earlier this week, RBDF
officers found the bodies of
three Haitian nationals float-
ing near West End, Grand
Bahama.

Police suspect the passen-
gers were part of a human
smuggling operation and
drowned during their ill-fated
trip.

Yesterday, Mr Turnquest

said getting to the root of
human trafficking is a huge
concern for his ministry.
"Human smuggling is
something that we have to
stop and is a concern for us.
We know that we have large
number of illegal immigrants

‘that make their way to and

through the Bahamas and we
have to deal with it as best
we can and when we have the
possibility to find out more
about it we try and root it
out," he said.

A leading local wholesaler seeks a qualified person for
the position of:

Brand Manager

The Brand Manager will be responsible for planning and
developing the marketing efforts for various brands in
support of the company's overall business strategy.
He/she will be in charge of implementing brand plans
and analyzing their impact for a specific product portfolio.

Skills & Educational Requirements:
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or marketing

Effective communication and presentation abilities
' Proficiency in time management, planning,

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Proficiency in a variety of computer applications
Self-motivated team player
Previous sales experience in the wholesale /

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Candidates should possess a reliable motor vehicle, be
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other foreign countries.

Please send application letter and résumé
by June 5, 2008 to:

Brand Manager
P.O.Box N-7504
Nassau, Bahamas
or Fax to: (242) 393-0440

We thank all applicants for their interest; however,
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PAGE 6, FRIDAY, MAY 30, 2008

THE TRIBUNE



LOCAL NEWS






a Y Care’s

em O mea

Ph: 324-6413
SUMMER SIZZLING

SALE

Jeans start at $19.39
Oid Navy T-shirts reg.$20.00 Now 3 for $20.00
Hanes Men Pajamas reg.$25.00
Now 2 for $40.00
25% off Ladies Wear
Lasko Fans $39.95
Proter Silex fron $20.00 /2 for $36.00

New Summer Arrivals

We sell Indigo, GSM & Helio Cards

Sponsors sought for boo
featuring young writers

A BAHAMIAN writers group is seeking
sponsors for a new book of stories and
poems by young talent from Nassau and
the Family Islands.

* About 60 students aged from eight to 15
will be featured in the book, to be called A
Collage of Dreams.

The initiative is part of a drive by the
Commonwealth Writers of The Bahamas to

promote writing and reading among young
Bahamians.

Writer Vera Chase said the book has
been “on the drawing board” for two years
for lack of funds.

She said sponsors are being sought so
that the young writers can experience the
joy of seeing their work in print.

The book will include work of students

from Nassau, Cat Island, Long Island and
Abaco. Last weekend, the group held a
reception in Nassau to honour competition
winners in two age categories.

Several Nassau and Family Island schools
were represented.

Mrs Chase said: “We had a tremendous
response. About 300 people attended and
we were delighted.”

Share
your
news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. If so, call us on 322-
1986 and share your story.









Wholesale and Retail



KEMP’S FUNERAL HOME LIMITED

Established 1950
P.O. Box N-1222, 22 Palmdale Avenue, Paimdale
Nassau, N.P., The Bahamas

A MEMORIAL SERVICE FOR

the late
Michael Frank
Brownrigg 54,














of Paradise Island, Nassau,
The Bahamas, will be held at
St. Andrew's Presbyterian

Church Princess Street, Nassau on Wednesday,
4th June, 2008 at 5:30p.m.











Reverend Scott Kirkland will officiate. Mr. Brownrigg
was predeceased by his parents, Edwin and Mona
Brownrigg and is survived by his brother, Robin
Brownrigg, sister-in-law, Andrea Brownrigg, nieces,
Brittany and Hienan and other relatives and friends.







Instead of flowers the family request that donations
be sent to St. Andrew's School Foundation, P.O. ’
Box EE-17340, Nassau for the "Building For The
Future Campaign" in memory of Michael ES
Brownrigg.







Arangements by Kemp's Funeral Home Limited.







R M Bailey Class of ’88 get their 20th —
j reunion activities and TASS on the way

© seitle an argument, think abo

MEMBERS of the 1988 graduating class of R M Bailey Senior High School.

THE 1988 graduating class of R M Bailey
High School has planned a series of “excit-
ing” fundraisers and activities for it's 20th
reunion. (

The reunion committee is led by chair-
persons Errol Bodie and Ronald Dun-

- combe. .

Sub-committees have been formed and

first event, a meet-and-greet on Saturday
May 31 beginning at noon, where, the com-
mittee says, “classmates can rekindle the
friendship and network”.

Directions can be found on the class web-
site www.rmbailey88.com.

The class first fundraiser will be a steak-

out and'raffle to be held on July’5.



cruise in the summer and a grand banquet
in the fall. Planning meetings are held at the
school every Thursday at 7pm. Other offi-
cers include: treasurer Fifika Bain, assis-
tant Lisa Adderley, secretary Alan Adder-
ley; public relations officers Godfrey Arthur
and Marvin Duncombe; projects manager
Carlon Bethell; webmaster Charlton Wat-
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operation that functions regionally in the Caribbean.

This position manages the day to day operations of a funding book
and is accountable for the asset/liability, liquidity and gap
management of the book. The position will contribute to the
development of investment opportunities and the formulation of
market strategies.

The responsibility of the Senior Trader is to ensure all treasury
activity is conducted in accordance with all Risk Management
policies, ensure accurate management information reports, as well
as develop strong relationships with various Scotiabank entities.

‘We are looking for a select individual to join our team. This
individual will be located in Nassau and will report to the Managing
Director, Scotiabank Caribbean Treasury Limited, Nassau,
Bahamas.

Interested persons should submit applications in writing, marked
private & confidential to: Managing Director, Scotiabank
Caribbean Treasury Limited, P.O. Box N-7518, Nassau,
Bahamas or by e-mail to: brodie.townley @scotiabank.com

Qualified candidates only need apply by Friday June 13, 2008.





THE TRIBUNE

FRIDAY, MAY 30, 20U8, PAGE /



THE government is forging
ahead with its plan to join the
WTO and the EPA in the face of
continuing opposition.

While Prime Minister Hubert
Ingraham said this week that final
approval on membership in the
World Trade Organisation
(WTO) can only take place
through consensus of the Bahami-
an people — he maintained that
such a consensus does not have to
be arrived at by a referendum.

Those against the Bahamas
becoming a member of both the
WTO and the Economic Part-
nership Agreement (EPA) with
Europe say that Bahamians will
be forced to compete in a losing
battle with foreign workers for
their own local markets.
























Bank
Financing
Available





The government has stated that
in terms of the EPA, many indus-
tries will be protected from open
competition, however detractors
say this will only last for a matter
of time. Appearing on a radio talk
show yesterday on More94 FM,
attorney and PLP member Fayne
Thompson said the final aim of all
trade agreements of this kind is to
open societies completely to inter-
national competition.

Prime Minister Ingraham
touched on the WTO and rela-
tions with European Union dur-
ing the 2008/2009 Budget Com-
munication in the House of
Assembly on Wednesday.

“The Minister of State for
Finance, the Trade Commission,
and the Ministry of Finance are

C
Quad Mot

SUNNY'S.

LOCAL NEWS

ihe Se ie ee ee ee iS) ae
Govt to continue WTO and EPA talks amid controversy |

providing extensive briefing on
the issues involved,” Mr Ingra-
ham said. “We want the Bahami-
an public to be fully informed on
the context of the crucial deci-
sion which will have to be made
shortly. “It is my government’s
considered opinion that entering
into the WTO is a major step
which we should be willing to
consider.”

The Bahamas received Observ-
er Status in the WTO in 2000 and
applied for membership in the
same in 2001. Regarding the
EPA, Mr Ingraham said Minis-

ter of State for Finance Zhivargo .

Laing, the Trade Commission and
staff of the Ministry of Finance
have “tried diligently” to provide

‘the Bahamian public with com-




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“Tt is an issue on which we, as a
democracy, shall take an
informed decision and not one
based on poor and misleading
information,” he added. “My gov-
ernment and its agencies will con-
tinue to work very hard to fully
inform the Bahamian public and
their parliamentary representa-
tives before any final decisions
are taken.”

Minister Laing, who has
responsibility for trade matters,
addressed the issue of the EPA
signing during an interview with
Bahamas Information Services.

“There has been no signing at
all,” he said. “So the agreement is
not complete yet in terms of a
signing. And even after the agree-
ment is signed by all the coun-
tries there has to be a ratification
process by each country; mean-
ing that they have to go to parlia-
ment and pass an Economic Part-
nership Act,” he said.

Mr Laing explained that nego-
tiations are ongoing between the
European Union and CARIFO-
RUM (Caribbean Forum of
African, Caribbean and Pacific
states), noting that only the CAR-
IFORUM grouping concluded
their negotiations by the Decem-
ber 2007 deadline.

“But there is this one excep-
tion, The Bahamas and Haiti
were given six months beyond the
deadline to provide their service
offer,” Mr Laing said. “So we did
not agree to a services offer, we
did agree with the overall goods

offer that CARIFORUM has.”

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By the end of May, the entire
goods and services offer of the
Bahamas will be made available
to the public, Mr Laing said.

The United Nations has about
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of which the Bahamas is dis-
cussing with the European Union,
he noted. In terms of services,
there are two descriptions —
“none” and “unbound”.

“None means I have it open
for non-Bahamian participation,
that you can invest in that area.
Unbound means closed to non-
Bahamian investment,” Mr Laing
said. He added, “Since straw ven-
dors are categorised as retailers,
that sector is “unbound”; closed.
There is no foreign investment
coming into this area. This is the
same for construction of any
building up to 250 rooms.

“For the most part, what we
have in the Bahamas is reserved
for Bahamians in our economic
partnership agreement offer.
Whether that is wholesale or
retail trade, whether that is real
estate services, or whether that is
inter-island transport services.

“In every way, we have sought
to be sensitive to the peculiar
needs of Bahamians and to pre-
serve, for the most part, the same
reservations that we had in this
country for years for Bahamians.

Legal services,’Mr Laing

-advised, is also classified as

unbound. His opponents claim it
is only a matter of time, however,
before the European Union
moves to abolish the protection of
any industry.

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PAGE 8, FRIDAY, MAY 30, 2008

THE TRIBUNE



Defence Force officers complete overseas courses

SUB Lieutenants Andrew
Bowe and Lynden Deon
Dames are the Royal Bahamas
Defence Force’s newest offi-
cers.

Both have returned home
after successfully completing the
Officer Candidate School in
New London, Connecticut.

The rigorous 17-week Coast

Guard course, sponsored by the
International Military Educa-
tion Training Programme
(IMET), was conducted at the
United States Coast Guard
Academy from January 10
through May 7.

The course is designed to
educate and train officer can-
didates, to ensure that they

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posses the moral, intellectual
and physical qualities for com-
missioning, and the leadership
potential to serve effectively as
officers.

The curriculum includes
courses in academics, leader-
ship and management, nautical
science, health and physical
readiness, customs and courte-
sies, military traditions and
Coast Guard history.

The academic aspect of the
course gives the officers an
overall view of the Coast
Guard.

It also exposes them to mar-
itime law enforcement, military
etiquette, the Unified Code of
Military Justice, effective writ-
ing, communication skills and
first aid.

Sub Lieutenant Bowe’s nau-
tical science course included a
one-week tour on board US
Coast Guard Cutter Juniper,
where he was required to apply
the knowledge of piloting,
maneuvering, ship handling,
celestial navigation, shipboard
communication, tides and cur-
rents, nautical nomenclature
and the compass system.

Sub lieutenant Bowe also

spend one week at Castle Hill, a

US Coast Guard small boat sta-
tion in New Port, Rhode Island,
where he participated in sever-
al small boat handling maneu-
vers.

Sub Lieutenant Dames’ tour

\~

of duty included one week at
Sector San Juan (Puerto Rico),
where he participated in vari-
ous marine law enforcement
inspections

Both officers attended a two-
day training session in fire fight-
ing and damage control at the
US Naval Base in New Port,
Rhode Island. :

Fisheries officials seize more
than 150 juvenile conch

@ BY DENISE MAYCOCK
Tribune Freeport

Reporter
dmaycock@tribunemedia.net:

FREEPORT — More than -

150 juvenile conch were seized
by fisheries officials who were
conducting marine patrols in
waters around Bimini.

Two male residents of Bimi-
ni were arrested in connection
with the seizure, which
occurred on Wednesday
morning about one mile south
of Bimini. a

Chief Superintendent of
Police Basil Rahming said the
inspectors were conducting

»

CREDIT SUISSE — 3 ,

Credit Suisse Nassau Branch Private Banking
is presently considering applications for an

Accountant |

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go beyond traditional banking services. Our dedicated and highly qualified staff provides
our clientele. with comprehensive solutions in individual investment counseling and
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focus without compromise on their financial well-being and their personal values.

The position is open to candidates with the following minimum

requirements:

1-2 years Accounting & Banking experience
Strong academic background (an associate’s or bachelor’s degree)

Proficient in Excel

Main tasks:

Management of Service Level Agreements (SLA) and inter-company/
divisional expense allocation process
Preparation and payment of:cheques
Booking of monthly accruals

Reconciliation of all general ledger accounts at the appropriate level of

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. Respond to queries relating to clients’ and internal expenses
Filing of expense and daily computer reports on a timely basis
Assist with Local and International Reporting

Assist Cashier

Personal Qualities:

Excellent communication skills both written and oral

Ability to work under pressure and meet deadlines with minimum

supervision

Excellent organizational and interpersonal skills
A commitment to service excellence

Benefits provided include:
Competitive salary and benefits

APPLICATIONS MUST BE IN WRITING.

Persons not meeting the minimum requirements need not apply.

Applications should be submitted to:

P.O. Box N-4928
Nassau, Bahamas

Facsimile: 242-356-8148



Human Resources Department

DEADLINE FOR RECEIPT OF APPLICATIONS IS JUNE 6, 2008

patrols around 9.43am when

‘they observed a small fishing

boat.

The inspectors conducted a
search of the catch and dis-
covered a total of 207 live
conch on the vessel.

They counted 157 juvenile
conchs, he said.

According to Mr Rahming,
the capture of!juvenile conch
is against the Fisheries

Resource Jurisdiction and

‘Court on June 4 to answer

Conservation Act.

Two men - a 47-year-old
resident of Bailey Town, and a
37-year-old resident of Alice

‘Town — were take’ into cus-

tody for questioning by Alice
Town Police.

. ef ‘

ATTEN Te ct cae

They also represented the
Bahamas and the Royal
Bahamas Defence Force at the
Armed Service International
Ball in Washington, DC, and
visited the White House and the
Pentagon. ;

A 1983 graduate of the R M
Bailey Senior High School, Sub
Lieutenant Andrew Bowe



‘joined the Defence Force in ©

July 1984 as a marine recruit.
Sub Lieutenant Lynden
Dames joined the Defence
Force in January 1988 as a
marine recruit after graduating
from the Governors Harbour
High School, Eleuthera in 1987.

» Leading Seaman Jonatha

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ion

Dr John Hammerton
a Dedicated Conservationist

On , Monday May 19, long time Bahamas National Trust Wildlife
Committee Member, Dr. John Hammerton, passed away at the
age of 73. Dr. Hammerton was a faithful attendee at Wildlife
Committee Meetings and provided significant support to the
Trust on scientific matters specifically in areas concerning invasive
species and native flora.

Dr. Hammerton was a former professor at the University College
of Wales and at the University of the West Indies in Trinidad. He
also served as the Senior Scientist for the Caribbean Agricultural
Research and Development Institute. He served as an Assistant
Director at the Bahamas Department of Agriculture and was
employed at the Bahamas Environment Science and Technology
(BEST) Commission where he served as the Chief Scientist. He
was also the co-author of the bilingual “Weeds of the Lesser
Antilles”

Dr Hammerton was also active on many national committees and
initiatives including the National Wetlands Committee, the
National Biodiversity Committee. He was involved in the
production of key national documents including the National
Biodiversity Strategy and Action Plan and the Bahamas Biodiversity
Country Study.

The Council and Staff of the Bahamas National Trust extend our
deepest sympathy to his family and to his many friends and
colleagues.

Although human subtlety makes a variety of inventions by different
means to the same end, it will never devise an invention more
beautiful, more simple, or more direct than does nature, because in
her inventions nothing is lacking, and nothing is superfluous.
- Leonardo DaVinci

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THE TRIBUNE | FRIDAY, MAY 30, 2008, PAGE 9

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PAGE 10, FRIDAY, MAY 30, 2008

THE TRIBUNE



PLP: Tax cuts an attempt to make up for ‘blunder’

FROM page one

“The math does not make
sense,” he said.

The projected budget deficit
for the 2008/9 fiscal year is $235
million.

Mr Christie suggested that an

announcement of the sale of
state assets by the government
may be what it expects to make
up the revenue shortfall. This
statement primarily refers to
the sale of BTC which the gov-
ernment says should occur by
the end of the year. However,

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the sale of Bahamasair, alluded
to in the annex of the prime
minister's budget communica-
tion, may also be a part of this
equation.

The opposition leader also
expressed concerns that the sav-
ings from the tax cuts on food
items may either not be passed
on to consumers by retailers
keeping the margins; or, that
the rise in the price of com-
modities worldwide will wipe
out any savings Bahamians may
have been expecting.

"Indeed with rice prices set
to rise by June 2008, for exam-
ple, by 30 per cent for the year,
and the price of wheat already
double what it was just over a
year ago, how is the removal of
two per cent tax on food items a
significant savings, and what
guarantee does the consumer
have that any savings will be
passed on to them and not to

the merchants’ bottom line?"
asked Mr Christie. He empha-
sised that the two per cent
stamp tax elimination amounts
to 10 cents on an item that costs
$5. "The government must say
where price control fits into
these new measures. The busi-
ness community here has posted
on an international website the
story of the delays in obtaining
price control approval for the
importation of rice from
abroad, and the result that this
could have on the availability
of rice into the country," said
Mr Christie. "We still think that
price control is a useful mecha-
nism in regulating the supply of
goods and services for the poor,
but it must be efficiently applied
if it is to help the poor.”

Mr Christie also suggested
that the FNM is merely adopt-
ing the PLP's policies in many
instances in the budget. The

stamp tax exemption for home-
buyers which his government
had instituted, but which
expired under the FNM's
watch, was an example of this,
he said.

The move of the ports to
Arawak Cay, rather that to the
southwestern New Providence
as the PLP had championed,
was again sharply criticised by
Mr Christie.

The PLP government went
through a comprehensive sci-
entific study that determined
the new port was best suited in
southwestern New Providence,
said the opposition leader.

“This government will
destroy the whole concept of
the use of Arawak Cay as a
beautiful gateway to Nassau.
Under their plan, the first and
last site tourists will see is an
industrial centre,” he said.
“They must reveal the scientif-

ic and engineering rationale for
this curious and negative deci-
sion, otherwise we are left to
believe that it is only to change
what the PLP said, however
correct and beneficial to the
Bahamian people.”

He also suggested that the
rise in fees for banks and trust
companies owed to the govern-
ment may ultimately be passed
on to consumers potentially
making it more expensive to
borrow. On what the PLP per-
ceives as a lack of focus on
crime in the budget, the PLP
leader added: “One cannot help

but note that there are no spe- |

cial initiatives in this budget to_
fight crime. On crime and»
national security, it is very much,
business as usual. One has to ©

ask what is this government
thinking in the face of the”

unprecedented concern in this
country about crime?”

Government under pressure to
stop Bimini project phase

FROM page one

short film earlier this year on
the subject.

In his article, Mr Costeau
said: “Unless something is done
soon to develop a more sus-
tainable plan that safeguards
the habitat, it will soon be bull-

dozed forever. The Capo Group

From: Parents: Pearlene and oe C

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plan to expand Bimini Bay in
favour of more condos and a
golf course in Phase II. {If Bimi-
ni is to be saved, Phase\lI must
be stopped.”

He added that “the decision
to protect this unique paradise
must be made now.”

“Mr Costeau proposes that a
Marine Protected Area is estab-

lished in Bimini encompassing
the area’s remaining mangroves.

“Nature has the remarkable
ability to heal wounds that we
inflict on land and sea. In the
case of Bimini’s mangrove
forests, it’s not too late to halt
development, establish the
MPA, and let nature take its
course,” he said.

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Asked yesterday where gov-
ernment stands in terms of
negotiations with the Capo
Group on the project's further
development, BIS Deputy
Director Sharon Turner, said:
“As the Prime Minister has
announced the appointment of
a Minister for the Environment
on July 1, you might perhaps
await that appointment to pur-
sue your questions in this
regard.”

She added however that.

“dredging has been brought to,,

an end at Bimini Bay,” although,
it is unclear whether this was as
a result of a specific period of
development coming to a nat-
ural close Gr the demands of the

_government having in mind

environmental concerns.

In a filmed interview in Jan-,

uary with Fabien Cousteau of
the Ocean Future’s Society,
which appears on the Save
Bimini Association’s website,
Kenneth Russell, minister of
housing, said that government
was soon to meet with the
developer “to see how we can
shift this thing around.”

He said that while it was the ,

FNM who were in power when
the project was initially
approved, over the five years
that they were in Opposition
the development went “hay-
wire”.

He told Fabien Costeau that ,.

government would be looking
in. these meetings to “to proba-
bly stop any future mangrove

removal, any future dredging ,

and reclamation of land” as well
as to have the developers

reduce the size of their pro-.,

posed golf course from 18 holes ;
to the nine that the FNM origi-
nally agreed to.

Meanwhile, Bimini Bay rep-;

resentatives maintain that the,,
project is respecting the envi- ,,;

ee

i

ronmental integrity of the island ,,,

and its surrounding habitats.
In the Save Bimini Associa-,

tion’s film, Patrick Perichon,,.,;.,

general manager at the resort,
said: “Bimini Bay will never do
anything against the environ-,
ment. That’s a fact.”

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THE TRIBUNE





James Blake



Blake exits —
French Open
in 2nd round

@ TENNIS
PARIS
Associated Press

JAMES BLAKE’S frus-
tration rose to a crescendo
Thursday.

The top U.S. man in the.

French Open was talking to
himself, and the words were
growing louder. He was
bothered by the clay under-
foot. By the chair umpire. By
his own play. And, most of
all, by the drop shots and
assorted other winners his
up-and-coming foe produced.

For the fifth time in six
career trips to Roland Gar-
ros, Blake departed, before
the third round, losing this
time to 80th-ranked Ernests
Gulbis of Latvia 7-6 (2), 3-6,
7-5, 6-3. It was part of a 1-3
showing by American men
Thursday, when Mardy Fish
and Bobby Reynolds also
lost.

The 88th-ranked Robby
Ginepri knocked off No. 27
Igor Andreev 4-6, 6-2, 7-6
(5), 6-2 to join Wayne
Odesnik as the only players

from the United States in the’;

third round.

“Americans a lot of times
don’t have the highest expec-
tations on clay,” the No. 7-
seeded Blake said. “But I
really felt like this match
today was a match I could
have won.”

There were moments, if
ever so brief, that similar
thoughts ran through the
minds of the men facing No.
1 Roger Federer and No. 2
Rafael Nadal.

Federer’s opponent, 60th-
ranked Albert Montanes of
Spain, staked himself to a
one-set lead — and then was
overwhelmed the rest:-of the
way in a 6-7 (5), 6-1, 6-0, 6-4
victory for the owner of 12
Grand Slam titles.

Nadal’s opponent, 148th-
ranked Nicolas Devilder of
France, was one point from
serving for the first set, hold-
ing a break point at 4-all —
and then. was completely
overwhelmed the rest of the
way in a 6-4, 6-0, 6-1 victory
for the owner of the past
three French Open titles.

“His forehand was not a
big problem for me to start
with. And I thought, "Why
not? Why not?”’ Devilder
said,

And then?

“The games go by so
quickly,” he said. “They go
by so quickly, and you think:
*When is it going to end?”

Nadal improved to 23-0 at
Roland Garros and said he’s
“improving with each
match.”

Federer, meanwhile, called
his outing “a good test.”

He saved all six break
points he faced, including
two during a rain shower

while trailing 5-4 in the first t

set. After a 1 1/2-hour rain
delay — making it the fourth
of the tournament’s five days
with wet weather — he came
out and lost the tiebreaker.

But as Federer put it:
“Bounced back strong.”

Talk about understate-
ment. From Montanes’ per-
spective, Federer was “like
a-hurricane. I couldn’t do
anything. You can tell that
he’s here to win this tourna-
ment.”

In the third round at the
only major tournament he
hasn’t won, Federer faces a
familiar foe: Mario Ancic of
Croatia, the last man to beat
him at Wimbledon, back in
2002.

SECTION

rt

2008



INSIDE ¢ International sports news



Knowles and Bhupathi defeated in
the first round of the French Open

m@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

The second grand slam
for Mark Knowles and his
latest partner in the post-
Nestor-era, ended bitterly
in a surprising early exit.

The fourth ranked pair-
ing of Knowles and Mahesh
Bhupathi fell in the open-
ing round of Roland Gar-
ros, the French Open.

Knowles and Bhupathi
were outdueld by the team
of Stephen Huss; Australia,
and Ross Hutchins, Great
Britain, in straight sets 6-4,
6-4.

In a match that took just
49 minutes, Knowles and
Bhupathi were outmatched

in nearly every conceivable
statistical category.

Huss and _ Hutchins
recorded a winning per-
centage of 74 percent on
first serves and 47 percent
on second serves.

They were 3-8 on break
point conversions for 38
percent and won a total of
75 points.

Knowles and Bhupathi
won just 66 and 37 percent

on first and second s serves

- respectively.

They were just 1-8 on
break point conversions, 13
percent and scored a total
of 63 points.

The unranked ean of
Huss and Hutchins will
face the winner of the
opening round matchup
between Americans Scott

Lipsky and David Martin
and Ivan Ljubicic, Croatia,
and Peter Pala, Czech
Republic.

Knowles and Bhupathi
were one of only two
ranked teams to fall in the
opening round thus far.

The 12th ranked team of
Max Mirnyi, Belarus, and
Jamie Murray, Great
Britain, also lost their
opening round bid with a
3-6, 6-3, 7-5 loss at the
hands of Rik De Voest,
South Africa, and Robin
Haase, the Netherlands.

Top seeds Mike and Bob
Bryan easily advanced with
a 6-1, 6-4 win over Rohan
Bopanna, India, and Aisam-
Ul-Haq Qureshi, Pakistan.

‘Knowles’ former partner,

Daniel Nestor and Nenad:



Zimonic, the tournament’s
second ranked pair also eas-
ily advanced to the second
round with a ‘6-3, 6-3 win
over Frenchmen Edouard
Roger-Vasselin and Giles
Simon.

Knowles and Nestor were
won the doubles titles at
Roland Garros in 2007, the
third grand slam win for the
team in a Six year span.

Knowles is still alive in
mixed doubles with partner
Zi Yan, China.

The fifth ranked team will

. face unranked Tatiana

Poutchk, Belarus, and

. Julian Knowle, Austria.

For the year, Knowles
and Bhupathi have won two
titles, in Dubai and Mem-
phis and have also been
finalist in two others.

IN THIS March 29, 2008 file photo, mixed martial arts fighter Kimbo Slice walks to the cage during the Strikeforce mixed martial arts event
in San Jose, Calif. ‘After coming on strong among young men in the last several years, the sport of mixed martial arts is headed for a clinch
with mainstream pop culture. CBS on Saturday, May 31, will become the first legacy network to show full matches in primetime.

Bahamian fighter headlines
Mixed Martial Arts event —

m@ By RENALDO DORSETT °

_ Sports Reporter
rdorsett@tribunemedia.net

ONE of the fastest growing
sports in the United States will
premiere live on network tele-
vision for the first time, fea-
turing a fighter of Bahamian
heritage as one of its star
attractions.

Bahamian-born Kimbo
Slice will headline the Mixed
Martial Arts showcase, “Elite
XC Saturday Night Fights”
airing on CBS, May 3lst, at
9pm.

The 6’2”, 250 pound Slice,
whose listed styles include
boxing and streetfighting, will
face mixed martial artist
James Thompson of Great
Britain in the main event on
the card.

The 6’5” 270 pound Thomp-
son comes into the contest
having lost his last three fights
with an overall record of 14-8.

Slice, whose real name is
Kevin Ferguson, was born in
Nassau and rose to promi-
nence as a street fighter whose
videos heavily circulated the
Internet via YouTube.

He parlayed his popularity

into a mixed martial arts
career and is now assigned as
a feature fighter for Elite XC.
The 34-year-old Slice boasts
a 3-0 MMA record with victo-
ries over Ray Mercer,-Bo
Cantrell and Tank Abbott.
He totaled a street fight
record of 7-1 with his lone
loss coming Sean Gannon.
Slice’s camp contends the
loss remains under dispute.
Slice has become such a
giant in the sport and pop cul-
ture icon that he graced the
cover of ESPN magazine and
has become arguably the most
recognizable athlete in the

sport.

The father of six is a former
high school football standout
at Miami Palmetto High in
Miami, Florida and attended
the University of Miami on an
academic scholarship, howev-
er, withdrew after three
semesters.

Fighting on the undercard
will be Elite XC Middleweight
Champion Robbie Lawler
defending his title against
Scott Smith.

The undercard will feature a
total of eight bouts including
female MMA fighters Gina
Carano and Kaitlin Young.

Jeff Chiu/AP Photo



Mark Knowles

hiley said to

be intrigued

hy Mayo

@ BASKETBALL
LAKE BUENA VISTA, Fla.
Associated Press

HEAT President Pat
Riley, who owns the No. 2
pick in the NBA draft, has
said he might do something

is -unexpected June 26 rather

than simply choose Mem-
phis point guard Derrick
Rose or Kansas State pow-
er forward Michael Beasley,
the top-rated prospects.

If Riley selected South-
ern California’s O.J. Mayo -
- or came away with him in
a trade -- and paired him
with Dwyane Wade, the
Heat would be creating an
unconventional but poten-
tially explosive backcourt.

Mayo, 20, is a natural
shooting guard who some
think could start at point
guard alongside Wade.

“Don’t fill a position,”
Portland scout John
Gabriel, a former Orlando
Magic general manager,
said of one draft philoso-
phy. “Take the unequivo-
cally best player you can.”

The possibility of Riley
pulling a stunner is merely
speculation this week at the
NBA pre-draft camp. But
he did recently discuss
“leveraging” the pick and
is said to be impressed by
Mayo.

At 6-foot-5 and 200
pounds, Mayo is a big guard
with impressive credentials.
He averaged 20.7 points, 4.5
rebounds, 3.3 assists and 1.6
steals in his one season at
USC, has a nice jumper and
shows a willingness to play
defense.

Heat fans will recall
Wade playing point guard
as a rookie in 2003-04, with
Eddie Jones starting at
shooting guard. Miami went
17-4 down the stretch that
season to finish 42-40, and
won a seven-game series
against New Orleans in the
first round of the playoffs.

Wade moved to his nat- .
ural position, shooting
guard, in his second season
and has been a fixture there
ever since. But he showed
that a guard is a guard.

“We play in a league now
where you don’t have to
have a point guard,”
Gabriel said.

Toronto coach Sam
Mitchell said Cleveland for-
ward LeBron James also
has shown that it’s not
always necessary to worry
about traditional roles.

“Everybody’s always
talking about Lebron needs
a point guard,” Mitchell
said. “To do what?
Lebron’s going to have the
basketball when it matters.
You need someone to play
off him.”



PAGE 12, FRIDAY, MAY 30, 2008

TRIBUNE SPORTS



wee

BRIEF



High school
football player
‘flies after practice

m@ FOOTBALL
IRVINE, Calif.
Associated Press

A high school football play-
er is dead after collapsing
during practice in Southern
California. ;

Irvine police Lt. Rick
Handfield says 15-year-old
Dylan Bradshaw apparently
had an asthma attack during
junior varsity practice
Wednesday at Northwood
High School. A trainer took
Bradshaw to the locker room,
where he went into cardiac
arrest.

The trainer administered
CPR and Bradshaw was in

ep

taken to a hospital. He died
there, about 90 minutes after
collapsing.

Venus Williams
reaches 3rd round
at French Open

@ TENNIS
PARIS
Associated Press

Venus Williams had a
much easier time in the sec-
ond round of the French
Open than in the first.

The No. 8-seeded Williams
overcame 25 unforced errors
and used a six-game run to
take control en route to a 6-2,
6-4 victory over 241st-ranked
qualifier Selima Sfar of
Tunisia at Roland Garros on
Thursday.

Williams’ serve was broken

Sp MER She Say ites Bes Ts Min: A a ES a RE Se Se, RC,

, to put her behind 2-1,but she fa

didn’t drop another game

until leading 1-0 in the’sec-
ond set. The American need- “?:
ed three sets to get through

her opening match.
She made 16 more

unforced errors than Sfar, but
made up for that with strong
play at the net. Williams won
the point on 24 of her 35 trips
forward.

critical condition when he was * i





FIFA lifts ban on
‘Iraq; postpones —
‘Chad-Sudan qualifier

i SOCCER a
SYDNEY, Australia
Associated Press

i
SOCCER’S governing
body lifted its international
ban on Iraq hours before a

Thursday midnight dead-

line, allowing Sunday’s
World Cup qualifier against
Australia to go ahead.

FIFA also announced
Thursday the World Cup
qualifier between neigh-
boring Sudan and Chad,

ischeduled for May 31, was
jindefinitely postponed
‘pending a decision of the
‘World Cup organizing com-
mittee.

FIFA had suspended Iraq
on Tuesday over what it
said was government inter-
ference in the running of
the sport by dissolving the
national Olympic commit-
tee and all sports federa-
tions.

The ban was provisional-
ly lifted eight hours before
ithe deadline — Sydney
‘local time — when FIFA
‘Said it received documenta-
jtion from Iraqi officials
‘which explained the situa-
tion.

' “FIFA received a letter
from the general secretariat
for the Council of Ministers
of the Republic of Iraq, con-
firming that the IFA (Iraqi

Football Association) had -

been ’excluded’ from the
above-mentioned decree,
thereby re-establishing the
statutory order of the Iraqi
association and its leaders,
who will ’continue their
activities inside and outside
Iraq until legal election’,”
FIFA said in a statement.

However, FIFA said that
more meetings would be
scheduled with Iraqi offi-
cials in Zurich and that the
ban could be re-imposed if
certain criteria were not
met.





SPORTS

SPORTS

Marcio Jose Sanchez/AP Photos

OAKLAND Athletics starting pitcher Dana Eveland, bottom, falls down while trying to field a ground ball by Toronto Blue Jays' Marco Scutaro, top, in the second inning of a-

baseball game in Oakland, Calif. Thursday, May 29, 2008. Scutaro was given an infield single on the play.

Toronto gets victory over Oakland

Rios breaks tie
with RBI double

@ BASEBALL
OAKLAND, Calif.
Associated Press

ALEX RIOS came up big for
the Blue Jays with his bat and
his glove.

Rios followed a great catch
in the sixth by hitting a tiebreak-
ing RBI double in the ninth that
helped secure the win for Roy
Halladay, and Toronto beat the
Oakland Athletics for the first
time in five tries this season with
a 2-1 victory Wednesday night.

Rios made the catch against
the wall in center field on a
hard-hit ball by Mark Ellis.

ae “The ball, here, at night, just
bangs up, there,” he said. “I

thought I had a good chance to
get there. I’m going to go hard

to every ball. It just went down ~

into my glove. I was pretty close

to the fence — not close enough ~

to worry, but close enough to
think about the wall.”
Halladay certainly appreciat-



ed the defensive effort.

“It was a game-changer,” he
said. “When you’re not hitting
spots like you want, it’s nice to
get those kind of plays behind
you.”

Halladay (6-5) outshined
Rich Harden in an impressive
pitcher’s duel between two of
the. American League’s top
right-handers, winning his third
straight decision.

After seeing three fastballs,
Rios lined a 1-2 change-up for a
one-out single down the left-
field line off loser Keith Foulke
(0-1) and the A’s had their sea-
son-high tying five-game win-
ning streak snapped. Foulke’s
last loss came April 21, 2006, at

Toronto.

His catch had plenty of peo-
ple talking afterward, too.

“I didn’t think he was going
to catch it,” A’s manager Bob
Geren said. “I thought it was
going over his head.”

Halladay matched his season
high with nine strikeouts, and

. he allowed eight hits and one

run and walked one in eight
strong innings. B.J. Ryan
worked the ninth for his 12th
save in as many tries.
Halladay, coming off his AL-
leading fifth complete game of
the year in his previous start,
went 20 innings between walks
— from the second inning May
9 to the second inning Wednes-



day. He has one walk in his last
27 innings.

The A’s are the only AL
team against whom Halladay
hasn’t pitched a complete game.

“Tonight was kind of a strug-
gle,” he said. “It seemed like I
pitched myself into trouble and
had to work my way out of it. It
was one of those games where
I'd get behind guys 2-0, 3-0, and
that’s something I try to avoid
— pitching in hitter’s counts.
You have to grind through it.”

Bobby Crosby got a two-out
double in the third and Jack
Cust then singled him home for
Oakland’s lone run. That ‘tied
the game at 1 after Shannon
Stewart singled in a run in the
top half for Toronto against his
former team.

Cust was 0-for-15 against
Toronto this year before going
3-for-4 Wednesday. ~

After Stewart’s single, Hard-
en retired nine of the next 10
batters he faced before Rios

reached on an error in the sixth
— and Harden retired 12 of his
final 14 hitters.

“It was a tough one today,”
Harden said. “I felt decent but
I really wanted to go a little
deeper. Overall I felt really
strong.”

The Blue Jays saved a run in
the sixth when first baseman
Lyle Overbay threw out Cust
at the plate and catcher Rod
Barajas did a good job blocking
the plate.

Harden gave way to Chad
Gaudin after seven innings and
104 pitches with the game tied.

° He had'won his previots ‘two
‘ starts and pitched well enough

in this one. The hard-throwing
‘Hardén made'his’ fourth’ $tart
since coming back from a dis-
abled list stint with a shoulder
injury, allowing five hits and
one run with five strikeouts and
no walks. Harden didn’t sur-
render a walk for the first time
this season.



TORONTO Blue Jays starting pitcher Jesse Litsch throws to the
Oakland Athletics in the third inning.

OAKLAND Athletics first baseman Darie Barton, left, gets drawn off
the base by a wide throw from pitcher Dana Eveland as Toronto
Blue Jays' Shannon Stewart reaches safely for a infield hit in the
first inning.

TORONTO Blue Jays second baseman Aaron Hill (2) collides with shortstop David Eckstein on a pop fly
by Oakland Athletics’ Rob Bowen during the seventh inning of a baseball game in Oakland, Calif.,
Thursday, May 29, 2008. Bowen was safe at first with a single.

! !



TRIBUNE SPORTS

FRIDAY, MAY 30, 2008, PAGE 13






Boston wins
a thriller

in Game 5

Revived Allen helps Celtics
to take a 3-2 playoff lead

m@ BASKETBALL
BOSTON
Associated Press

RAY ALLEN raised his.

arms to fire up the Boston
crowd with 4.5 seconds left.

The struggling Celtics sharp-
shooter already had excited the
fans by finding his shooting
touch Wednesday night and
helping Boston move one win
away from its first NBA finals
in 21 years.

“My feeling now is no differ-
ent from if I had'scored 10
points and we still won the
game,” said Allen, who scored
29 in the 106-102 win over the
Pistons. “It’s a great feeling
because (of) the joy on every-
body’s face.”

The Celtics lead the best-of-
seven Eastern Conference final
3-2 and can wrap it up Friday
night at Detroit. If not, Game 7

will be in Boston on Sunday’

night.

But their joy nearly turned
to misery as they let a 17-point
lead with 1:19 left in the third
quarter drop to 100-99 with 1:23
to go in the game.

Then Boston took a 20-sec-
ond timeout to:set up a play for
Allen or Kevin Garnett. Allen
caught the inbounds pass from
James Posey and immediately
took a shot from the left corner.
It went in and the crowd
roared.

“T assumed he threw it
because I was open,” Allen
said. “Posey made a play and it
was time for me to put the shot
up.”

Rodney Stuckey hit two free
throws to make it 102-101 with
8.2 seconds left, and Allen fol-
lowed with two more to restore
the 3-point lead with 6.3 sec-
onds remaining.

Then Stuckey was fouled
and, as Allen played cheer-
leader a few feet behind him,



the Pistons rookie missed the
first shot then made the sec-
ond. Garnett, who led all scor-
ers with 33 points, finished with
two free throws with 3.4 sec-
onds to play. :

_ “We knew the significance of:
this game,” Garnett said. “You
don’t win this game, you put ©

basically yourself in a corner.”

Now the Pistons, in their
sixth straight conference final,
must win at home to have a
chance at their second NBA
title in that span. .

“Qur experience and our
being in this for so long and
being in so many tough situa-
tions, and us being at home
helps,” said Chauncey Billups,
who led Detroit with 26 points.
“Those are the kind of things
that you’ve got to kind of lean
on.”

NOTES:

¢ The Pistons took eight more
free throws than the Celtics, but
Detroit's Rasheed Wallace said,
“A lot of those foul calls, cats
were flopping and falling all over
the floor.” He picked up a techni-
cal with 5:18 left, his sixth of the
postseason. The next one earns
him a one-game suspension.

° Wallace was 6-of-9 on 3-point-
ers, providing all his 18 points,
after going 3-for-27 in his previ-
ous eight games.

e Every Celtic starter played at
least 38 minutes.

¢ Patriots coach Bill Belichick and
linebacker Tedy Bruschi were in
the crowd.

e. Antonio McDyess had four
points and five rebounds and
fouled out with five minutes left.
He had 21 points and 16
rebounds in Detroit’s Game 4
win.

Charles Krupa/AP Photos

BOSTON Celtics guard Ray Allen, right, stumbles as he is held by
Detroit Pistons center Rasheed Wallace (36) as Allen moves to the

hoop in the second half of Game 5.

_ SPORTS

BOSTON Celtics
forward Paul
Pierce (34)
reacts toa
basket by
Celtics center
Kendrick
Perkins, not in
photo, in front
of Detroit
Pistons forward
Tayshaun
Prince (22) in
the second half
during Game 1
of the NBA Eastem
Conference
basketball finals
in Boston,
Tuesday, May
20, 2008. The
Celtics beat the
Pistons 88-79.




independent Auditor’s Report
“to the members of Standard Chartered PLC








We read other information contained in the Annual Report
and consider whether it is consistent with the audited financial s
statements. We consider the implications for our report if we
become aware of any apparent misstatements or material
inconsistencies with the financial statements. Our responsibilities
do not extend to any other information. - .

We have audited the Group (Standard Chartered PLC and its
subsidiaries) and Company (Standard Chartered PLC) financial
statements (together referred to as the ‘financial statements’) for
» the year ended 31 December 2007 which comprise the Group
Income Statement, the Group and Company Balance Sheets,
the Group and Company Cash Flow Statements, the Group and
Company Statements of Recognised Income and Expense, and






the related notes. These financial statements have been prepared
under the accounting policies set out therein. We have also
audited the information in the Directors' Remuneration Report
that is described as having been audited.

This report is made solely to the Company's members, as a
body, in accordance with section 235 of the Companies Act
1985. Our audit work has been undertaken so that we might
state to the Company's members those matters we are required
to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the Company and
the Company's members as a body, for our audit work, for

this report, or for the opinions we have formed.

Respective responsibilities of directors and auditor

The directors’ responsibilities for preparing the Annual Report,
the Directors’ Remuneration Report and the financial statements
in accordance with applicable law and International Financial
Reporting Standards (IFRSs) as adopted by the EU are set out
in the Statement of Directors’ Responsibilities on page 86.

Our responsibility is to audit the financial statements and the
part of the Directors’ Remuneration Report to be audited in
accordance with relevant legal and regulatory requirements,
and Internationa! Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the financial
statements give a true and fair view and whether the financial
statements and the part of the Directors’ Remuneration Report
to be audited have been properly prepared in accordance with
the Companies Act 1985 and, as regards the Group financial
statements, Article 4 of the IAS Regulation. We also report to -
you whether in our opinion the information given in the Report

of the Directors is consistent with the financial statements. The
information given in the Report of Directors includes information
presented in the Chairman's statement, the Group Chief
Executive's Review and the Financial and Business Reviews that
are cross referenced from the Report of the Directors. In addition
we report to you if the Company has not kept proper accounting
records, if we have not received all the information and
explanations we require for our audit, or if information specified
by law regarding directors’ remuneration ‘and other transactions
is not disclosed. .

Basis of audit opinion

We conducted our audit in accordance with International
Standards on Auditing (UK and Ireland) issued by the Auditing
Practices Board. An audit includes examination, on a test basis,
of evidence relevant to the amounts and disclosures in the
financial statements and the part of the Directors’ Remuneration
Report to be audited. It also includes an assessment of the
significant estimates and judgements made by the directors in
the preparation of the financial statements, and of whether the
accounting policies are appropriate to the Group's and Company's
circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the
information and explanations which we considered necessary

in order to provide us with sufficient evidence to give reasonable
assurance that the financial statements and the part of the
Directors’ Remuneration Report to be audited are free from
material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion we also evaluated the
overall adequacy of the presentation of information in the financial
statements and the part of the Directors’ Remuneration Report to
be audited.

Opinion
In our opinion:

the Group financial statements give a true and fair view, in
accordance with IFRSs as adopted by the EU, of the state
of the Group's affairs as at 31 December 2007 and of its
profit for the year then ended;

the Company financial statements give a true and fair view,
in.accordance with IFRSs as adopted by the EU as applied in
accordance with the provisions of the Companies Act 1985, of
the state of the Company's affairs as at 31 December 2007;

the financial statements and the part of the Directors’
Remuneration Report to be audited have been,properly
prepared in accordance with the Companies Act 1985 and,.
as regards the Group financial statements, Article 4 of the IAS
Regulation; and

the information given in the Report of the Directors is consistent
with the financial statements. ;

We review whether the Corporate Governance Statement reflects KPMG Audit Pic

the Company's compliance with the nine provisions of the 2006 London

FRC Combined Code specified for our review by the Listing Rules Chartered Accountants
of the Financial Services Authority, and we report if it does not. Registered Auditor

We are not required to consider whether the Board's statements 26 February 2008



on internal contro! cover all risks and controls, or form an opinion
on the effectiveness of the Group's corporate governance
procedures or its risk and control procedures.







Consolidated Balance Sheet
As at 31 December 2007





























Cash and balances at central banks ; ; 42 10,175 7,698
Financial assets held at fair value through profit or loss 15 22,958 15,715
Derivative financial instruments : 16 26,204 13,154
Loans and advances to banks 17, 20 35,365 19,724
Loans and advances to customers 18, 20 154,266 139,300
aoe ae 22 55,274 49,497
's in associates
23 269 218
Goodwill and intangible assets . 25 6,380 6,247
Property, plant and equipment 26 2,887 2,168
Deferred tax assets 27 559 512
Other assets 28 114,017 8,601
Prepayments and accrued income 3,857 3,268
Total assets 329,205 266,102
Liabilities
Deposits by banks 29 25,880 26,233
Customer accounts , 30 179,760 147,382
Financial liabilities held at fair value through profit or loss 31 14,250. 9,969
Derivative financial instruments 16 26,270 13,703
Debt securities in issue 1 32 27,137 23,514
Current tax liabilities 185 68
Other liabilities 34 14,742 11,331
Accruals and deferred income 3,429 3,210
Provisions for liabilities and charges 35 38 45
Retirement benefit obligations 36 322 553
Subordinated liabilities and other borrowed funds 37 15,740 12,699
Total liabilities 307,753 248,707



















Equity

Share capital 38 705 692
Reserves : 39 20,146 16,161
Total parent company shareholders’ equity 20,851 16,853
Minority interests 40 601 542
Total equity : 21,452 17,395
Total equity and liabilities 329,205 266,102



* Amounts have been restated as explained in note 51 on page 154.
These accounts were approved by the Board of Directors on 26 February 2008 and signed on its behalf by:

E M Davies
Chairman




P A Sands

RH Meddings
Group Chief Executive

Group Finance Director




Interested persons may obtain a complete copy of the Audited Accounts
from SG Hambros Bank & Trust (Bahamas) Limited, P.O. Box N-7788, West
Bay Street, Nassau Bahamas.







14, FRIDAY, MAY 30, 2008

RIDAY EVENING | MAY 30, 2008



















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THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 15



Stabbing sparks
school war fears

FROM page one

The Tribune that an “all out
brawl” had started after eight
male students from, Doris John-
son tried to rob one of three
RM Bailey students who stood
in the parking lot of the Shell
gas station on Prince Charles
Highway — directly across from
Doris Johnson high school.

According to the eye-witness,
one male student from Doris
Johnson took a Blackberry cell-
phone from one of the RM Bai-
ley students.

When the student attempted
to get his cellphone back, a fight
broke out.

It is reported that it was at
this point that the first student

three times in his back. A sec-
ond student from RM Bailey,
who had come to his classmate’s
aide, was also stabbed in his
side.

It was at this point that addi-
tional students from Doris
Johnson joined in the brawl and
began to “kick and stomp” the
two students from RM Bailey,
as they lay gripping their
wounds, the eye-witness said.

Reportedly, as this gruesome
scene unfolded, a crowd of
female students from Doris
Johnson had gathered and were
said to be “cheering” their class-
mates on. :

“The girls were standing
nearby, right there,” the eye-
witness said, pointing at the
scene where a bloodied red and

white RM Bailey shirt lay.

“They were right there,
cheering as they were stomping
them,” he said.

Reportedly two riot vans and
three squad cars from the Eliz-
abeth Estates Police station
arrived on the scene.

It is claimed that these offi-
cers had to quickly stop a Jitney,
and a truck filled with RM Bai-
ley students who were nearing
the scene.

The vehicles, a source stated,
had to be pulled over into the
Carey’s shopping plaza until
officers had gained control of
the area.

A male student, who is said to
be between 15 and 16 years of
age, is being actively sought by
the police.

from RM Bailey was stabbed

McKenzie guilty of murder

FROM page one

Cheryl Grant-Bethel told the jury that Dean, 27,
had been the victim of a senseless killing. She
told the jurors that Mckenzie, also known as
"Danger Mouse" had the clear intention to harm
Dean as he had chased him down and shot him
multiple times. Mrs Grant-Bethel noted that the
incident was a brazen attack which took place
amidst numerous bystanders who had come out to
the One Family junkanoo practice at the parking
lot of the old City Market food store on Market
Street that night.

According to trial evidence, Dean and some
friends had visited the Valley Boys and Saxons
junkanoo practice on the night of December 13
before arriving at the One Family junkanoo prac-
tice. Mrs Grant-Bethel told the jury that there had
been no direct provocation for the killing. Mrs
Grant-Bethel noted that in his unsworn state-

Caution
urged on
gas-saving

device

FROM page one

uncontrolled combustion of
accidentally released hydro-
gen,” it. says.

“The low viscosity and small
molecular size of hydrogen give
it a greater propensity to leak
than other common gaseous
fuels.”

Hydrogen, it said, will leak
about 2.8 times faster than nat-
ural gas and 5.1 times faster
than propane on a volumetric
basis.

“Hydrogen has a much wider
range of flammability in air (4
per cent to 75 per cent by vol-
ume) than methane (5 per cent
to 17 per cent by volume)
propane or gasoline, and the
minimum ignition energy is
about an order of magnitude
lower.”

He said: “Hydrogen is not
something to play with.

“It gave us the Hindenburg
disaster and Apollo 13 (fuel
cell) disaster.”

The Schatz centre offers sev-
eral safety practices, adding:
“These types of safety measures
are best implemented through
sound engineering design and
proper operation and mainte-
nance practices.”

Acknowledging these warn-
ings, Mr. Tyrone Miller who
taught science for 40 years said
last night that he and his broth-
er know that some chemical ele-
ments alone can be very dan-
gerous.

“Hydrogen alone can blow
up the whole of Japan!” he
exclaimed, “But we’re not using
hydrogen alone. The ‘Water
Converter’ is taking hydrogen
and oxygen from our solvent
called ‘Formula 4X’, and mak-
ing a safe unit.”

Once these elements are
combined, Mr. Miller told The
Tribune, the unit goes into the
car’s gas and will result in the
car using less gas.

“As shown on our business
licence, this is not dangerous, it
is not explosive.”

ment, McKenzie claimed that Samuel "Mooshae"
McKenzie, a relative of his who was gunned down
last year, had killed Dean. Mrs Grant-Bethel
told the jury that this, however, was a recent fab-
rication by McKenzie.

Mckenzie’s attorney Richard Bootle told the
jurors that the Crown’s case was laden with incon-
sistent testimony of witnesses and insufficient
evidence.

He questioned the integrity of the prosecu-
tion’s witnesses, telling the jury that the testimo-
ny of one key prosecution witness in particular
was too incredible to believe.

Mr Bootle also pointed out that there was no
physical evidence that connected his client to the
murder as the 9 mm pistol said to be the murder
weapon had never been brought to court and
submitted into evidence.

Mr Bootle.also told the jurors that police had
beaten McKenzie to obtain a confession state-
ment from. him.

BLOODIED: A an is a reminder of the stabbing.

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Felipé Major/Tribune staff







PAGE 16, FRIDAY, MAY 30, 2008

THE TRIBUNE



Call for alleged abuse probe

FROM page one

in Millar’s Creek, New Providence, on April 19,
unidentified and wearing masks.

The 300 Bahamian and Haitian patrons feared
for their lives as officials handcuffed people,
forced them to the ground, trampled on them
and struck them with their guns, Mr McKenzie
claimed.

He later learned the raid was a joint operation
by the Royal Bahamas Police Force, the Depart-
ment of Immigration and Drug Enforcement
Unit, searching for illegal weapons and drugs at
the premises.

A number of Haitian employees at the cafe
who have work permits were taken into a deten-
tion centre, and an envelope containing money
collected by the doorman was allegedly taken by
officers. The violent treatment by officials sent
shockwaves around the world when Amnesty
International took notice of a story published in
The Tribune.

Minister of National Security Tommy Turn-
quest and Acting Police Commissioner Reginald
Ferguson have received over 1,000 letters calling.
for an independent investigation into the alleged
abuse. Although Mr Ferguson confirmed the
Police Complaints and Corruption Unit is inves-
tigating the allegations, he said the uproar stirred
by “some nonsense that someone told them”,
was out of proportion in relation to the incident.

He said: “We had a police operation as we
always do, and no one is going to influence us
against doing what we do as police officers.

“They painted a picture through the media to
influence people who don’t have a clue about
what is happening.”

Mr McKenzie was arrested in the raid and has
pleaded not guilty to charges of supplying dan-
gerous drugs. His case has been adjourned to
November 27. Mr Turnquest said he will wait to
see the results of the court case and the current
investigation before considering the need for an
independent body to look into the matter.

He said: “There has obviously been a letter
writing campaign initiated and we want to make
sure the police acted properly and there will be an
investigation into that.

“However, we are a country of laws and we
have a judicial process, so we have to go through
that process as well.”

President of the Bahamas Human Rights Net-
work Elsworth Johnson said the people abused in
the raid should sue Government as their consti-
tutional rights were breached.

He said: “I don't think an investigation will
ever be started, even though it is mandatory in the
constitution. The only thing that would force the
Government's hand would be if the people go
to the Judicial Review. These people are saying
their constitutional rights were breached so they

can go to the Supreme Court and have them

enforced.”



FROM page one

Partial Cabinet shuffle on cards

“These were not announced
(on Wednesday) by the prime
minister but it appears that
there will be ministerial
changes.”

From the heads — or sections
of the budget — observed Mr
Christie, the ministry of educa-
tion will stand alone, while a

ministry of youth, sports and.

culture will be created.

Currently, education, youth,
sports and culture are all in one
ministry under the leadership
of Carl Bethel. Byran Wood-
side is the minister of state for
sports and Charles Maynard is
the state minister for culture.
_ The ministry of education’s
2008/9 budget only makes pro-
vision for one substantive min-
istry and no ministers of state.
However, the ministry of youth,
sports and culture has provision
for one minister and a minister
of state. This may mean that
either Mr Woodside or Mr
. Maynard may be set to receive
a.promotion, one over the oth-
er.

Mr Christie also remarked
that there appears to be changes
in place for the portfolios cur-

Turner and Dion Foulkes. She.

currently is the state minister
for social development and he is
the minister of labour and mar-
itime affairs.

“Similarly, there is need for
an explanation with regard to
head 70 now describing a min-
istry of labour, social and com-
munity development,” he said.
“It appear that the social ser-
vices department is to be split
from the ministry of health.
They need to clarify what is
happening with the department
of social services.”

The new ministry of labour,
social and community develop-
ment does not have provision
for a minister of state, indicating
that Mrs Butler-Turner is likely
to soon be removed from this
portfolio. The ministry of
health, however, has place for a
state minister. Mrs Butler-Turn-
er then appears poised to move
from her current post, but it is
unclear whether she is going to
remain Hubert Minnis’ junior
minister, or whether she will be
sent elsewhere.

When asked yesterday about
a possible move from her cur-
rent post, Mrs Butler-Turner

said she doesn’t know what
changes may occur.

“I'll be speaking on social
development,” she said refer-
ring to her upcoming budget
presentation next week on this
portfolio. “I do not know what
the prime minister has planned,
except, I’ve observed the very
same things that you have.”

The Tribune was unable to
reach Minister of Education
Carl Bethel, Health Minister
Hubert Minnis and Labour
Minister Dion Foulkes yester-
day. Mr Foulkes was reported
to be off the island.

An FNM insider has
informed The Tribune that a
cabinet shuffle will soon occur.
He said, however, that the

_prime minister is the only per-

son who knows exactly who will
go where. The only new post
forecast by the prime minister in
Wednesday’s budget was the
creation of an environment
minister. No money was allo-
cated to this new post in the
recurrent budget, however.

“The prime minister must
explain this apparent ministeri-
al ‘musical chairs’,” said Mr
Christie yesterday.



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Developer pays
$7.5m for 50%
stake in Harbour
Island property

The developers of the Royal
Island mixed-use resort project
last night announced they had
acquired a S50 per cent stake in a
Harbour Island resort for $7.5
million, planning to use it as a
“beach head” to their main pro-
ject.

Royal Island Partners, LP, an
affiliate of Royal Island devel-
opers, Dallas-based The
Staubach Company and its
development arm, Cypress
Equities, said it had purchased a
50 per cent interest in Rock
House, a nine-room hotel on
Harbour Island targeted at
celebrities.

The company purchased half
the hotel’s equity from its co-
owners and co-developers, J.
Wallace Tutt III and Don Pur-
dy, for $7.5 million. Messrs Tutt
and Purdy, who own the other
50 per cent, will continue to
manage the hotel.

“Rock House has a 65-year-
old heritage for hospitality with
a clientele that wants a small,
stylish, discreet hideout for

SEE Page 6B

FOR I DAY

“MAY 30, 2008

SECTION B « business@tribunemedia.net

‘Major underestimate’ on
$129m Stamp collection

* Customs and Stamp Duty amalgamation to cause Bahamians and resi-
dents to pay more taxes on baggage imports
* Over $51m increase for Stamp Duty on property deals worth over
$250,000 not as great as seems, as $129m collected in first 10 months
of 2007-2008 compared to Budget estimates of $98m

* Bank and trust company licence fees more than double to over $25m,
while gaming taxes almost halve to $15.5m

Zhivargo Laing



$4m FINCO loan
provision hints at
, mortgage concern

Lender sees net income drop by
over one-third in 2008 first half

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@ By NEIL HARTNELL
Tribune Business Editor

Bahamas-based analysts were
yesterday surprised by the more
than one-third decline in Finance
Corporation of the Bahamas
(FINCO’s) 2008 first half net
income to $6.154 million, a drop
almost entirely accounted for by a
nearly $4 million increase in loan
loss provisions, a sign that home-
owners are finding it difficult to
meet mortgage payments.

Ross McDonald, BISX-listed
FINCO’s chairman, in a state-
ment blamed the “weakening
economy” for an increase in non-
accrual loans, forcing it to
increase the year-on-year loan
loss provision from $198,954 to
$3.943 million for the six months
to April 30, 2008.

The rise in loan loss provisions

accounted for the entire $3.6 mil-

lion, or 37.13 per cent, decrease in -

FINCO’s net income for the 2008
first half to $6.154 million.
Neither Mr McDonald, nor
Tanya McCartney, returned The
Tribune’s calls seeking comment

SEE page 5B

Flemings want to
hear your voice.

You do have a say
_inthe future of

Gsrand Bahama.

tell us your vision at

myview@grandbahama2020.com

A paid advertisement by Flemings.

@ By NEIL HARTNELL
Tribune Business Editor

The Government "severely underesti-
mated" revenue it would earn from Stamp
Duty on property transactions worth more
than $250,000 in fiscal 2007-2008, a min-
ister telling The Tribune yesterday that it
had already collected $129 million to
March/April 2008, compared to the $98
million full-year estimate.

Zhivargo Laing, minister of state for
finance, said 2008-2009 Budget's project-
ed increase in this Stamp Duty category,
standing at $51.813 million or a 52.8 per
cent rise to $150 million; compared to
$98.187 million in the current fiscal year,
was not as extravagant as it seemed.

This was due to the major underesti-
mate in the 2007-2008 Budget's forecast-
ing,-given that the Government had col-
‘ected over $31 million more than year-





end projections for this line item some
nine to 10 months into its fiscal year.
"The number in the current fiscal Bud-
get was a severe underestimate," Mr
Laing told The Tribune yesterday. "Up to
March/April, we had already collected
about $129 million in this category."
Therefore, he explained that the $150
million estimate for Stamp Duty revenues

SEE page 4B

Hybrid vehicle duty
reduction ‘meaningless’

@ By NEIL HARTNELL
Tribune Business Editor

Bahamian auto dealers and’.
consumers cannot currently
benefit from the Governmen-
t’s decision to reduce import
duties on hybrid vehicles
because they cannot be
imported to this nation, one

* Dealers unable to import product currently, with
duty reduction unlikely to make major dent in con-
sumer prices
* Executive describes fiscal plan as ‘good PR Budget’,
with duty reduction on food paling into insignifi-

senior industry executive yes-
terday describing the 2008-
2009 fiscal plan as “a good PR
Budget” that will make mini-
mal impact on reducing con-
sumer prices.

Rick Lowe, operations man-
ager at Nassau Motor Compa-
ny, explained to The Tribune























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facturers were not allowing
Bahamian dealers to bring
hybrid vehicles - and their
promise of reduced gasoline
costs - into the Bahamian mar-
ket.

BROKERAGE

cance alongside 30% increases

Commenting on the Gov-
ernment’s Budget plans to
reduce import duties on hybrid
cars from between 45-65 per
cent to 25 per cent, Mr Lowe

said: “Certainly, it’s good if

hybrid cars are exported to the

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FG CAPITAL MARKETS

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Bahamas, but no one is
allowed to bring them in at this
stage.

“Toyota and Honda are
thinking about it, but no one

SEE page 5B








PAGE 2B, FRIDAY, MAY 30, 2008

THE TRIBUNE







NOTICE

NOTICE is hereby given that NICOLE LOUISSAINT
of LAZARETTO, CARMICHEAL ROAD, P.O. BOX
CR-56596, 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 30th day of May 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

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Contractors chief: 90% of Out Island
building contracts must go to locals

Government could be biggest property developer in 2008-2009
Budget year with all the complexes and renovations planned

@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

The Bahamas Contractors
Association’s (BCA) presi-
dent yesterday applauded the
Government for the extensive
capital spending allocations in
the 2008-2009 Budget that
were dedicated to the con-
struction of government build-
ings, hoping these projects and
others, along with reductions
in duties levied on building

‘material imporrts, will help

reinvigorate the industry.

Stephen Wrinkle said that
based on the extensive list of
government construction pro-
jects outlined by Prime Minis-
ter Hubert Ingraham in the
Budget communication, the
Government is likely to be the
largest developer in the
Bahamas this year. _

Mr Wrinkle said that over
the past 25 years, and through-
out successive administrations,

many of the Government’s '

buildings had deteriorated to

‘ the point of requiring dracon-

ian repair measures.

“T applaud the Government
for allocating the funds to do
this work now,” he said,
adding that waiting to address
these matters would have cost
the Government twice as
much in future years, given
the rate of inflation.

In his Budget address, the

Prime Minister announced
that the Government had
increased capital spending by
11 per cent to $250 million.
These funds will go towards
extensive improvements to the
Marsh Harbour International
Airport; two 60,0000 office
complexes to be built on Nas-
sau and Grand Bahama,

‘another in Marsh Harbour;

work on the Magistrate’s

» Court Building on Nassau

Street; and the refurbishment

annuities
during the
month of May!

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Stephen ane

project for the former City
Markets complex on Market
Street. That complex is to
accommodate the offices of
the Registrar General and
Business License Unit and
Valuation Units.

Work will alsoi be initiated
for the construction of a new
Judicial Complex to accom-
modate the Supreme Court
and the Court of Appeal,
along with major dredging
works in Nassau Harbour.

Mr Wrinkle expressed hope
that now the Budget has been
completed, the long-awaited
Contractors Bill can be passed

to help construction industry |

transparency, particularly as
it relates to the. bidding
process for the many govern-
ment contracts expected to go
tender once the Budget is
passed next month.

The. BCA president said the
Association was pleased the
Government had decided to
reinstate the Stamp Tax
exemption for first-time
homeowners of properties val-

ued at $500,000 or less, and .
extend its real property ‘tax”’

QUALIFICATIONS



“I applaud the
Government for
allocating the
funds to do this
work now.”



Stephen Wrinkle

ceiling to these properties, as
the pool of beneficiaries will
grow by at least 50 per cent.

Mr Wrinkle pointed out
that since home construction
contributed to so many sec-
tors of the economy, the
effects of this decision will be
far-reaching.

Mr Wrinkle said he firmly
believed that construction
work in the Family Islands
should be given to contractors

who lived on the relevant
island first, except in cases
where they might not be able
to handle the scope of works

themselves.

“Ninety per cent of the
work done on Family Islands
should be done by local con-
tractors,” he maintained.

Mr Wrinkle said the deci-
sion to provide incentives for
the redevelopment of the City
of Nassau will likely spur the
construction industry further,
would concessions on con-
struction materials such as ply-
wood, oriented strand board,
insulation, wooden hurricane
shutters, aluminum doors,
wooden windows and cement
boards.

However, he pointed out
that given spiralling fuel costs,
these measures may only off-
set the costs to the consumer
by. cushioning price increases
from external factors.

ST
Pid

BAHAMAS FIRST
HOLDINGS LIMITED

NOTICE TO SHAREHOLDERS

Bahamas First Holdings Limited hereby notifies all

its shareholders that an Annual General Meeting

of the Shareholders will be held on Thursday 12"

June, 2008 at 5:00 pm at Bahamas First Centre, 32

Collins: Avenue, ‘Nassau; The Bahamas.



tomes
LAND SURVEYOR

-* College Degree or equivalent 7Minimum 5 years experience as a licensed Surveyor
° Proficient in reading and understanding survey plans
¢ Proficient with Microsoft Word and Excel

* Good communication and organizational skill

BASIC JOB DESCRIPTION

The Land Surveyor’s responsibility will be to execute all phases in basic surveying,
designing and laying out of subdivisions, levelling of roads from engineering plans,
supervision and training of chainmen and have projects completed within estimated

time.

Typical work activities include:

Surveying of lots for building contractors
: ~ Preparation of survey plans
* __ Recording of survey plans

Qualities:

¢ Self motivated

° Must be a team player
-¢ Creative

° Patient

° A good Listener

* A people person

* A thorough understanding of the issues involved in subdivisions surveying
° A practical, logistical mind.
¢ Numeracy
_* Ability to develop good relationships with other professionals

° Excellent organizational skills.

Compensation

* Commensurate with qualifications and experience

Assurance of Confidentiality

e Assurance is given that every applicant will be treated in the strictest of confidence

Deliver to:
Sunshine House

Shirley Street at Highland Terrace
Email: position@arawakhomes.com

Telephone:394-0011 Fax:394-0019





THE TRIBUNE

CAIVDAY, NMIAY SU, ZUU0, FAUE ob

ea ere ee eee ee Oe
Price Control pledges
‘not to retard’ business

@ By CARA BRENNEN-BETHEL
Tribune Businesss Reporter

A senior official at the Ministry of Lands
and Local Government yesterday said the
Price Control Department will do all it can
not to “retard the business” of wholesalers
and retailers when they applying for increas-
es on price controlled items.

Sidney Mckenzie, chief price inspector
at the Ministry, told Tribune Business that
his ministry and the Attorney General’s
office were looking at measures to ensure
that the approval process for increases in
priced-controlled items was done as quick-
ly as possible.

Most price-controlled items in the
Bahamas have their margins set at around
13 per cent for wholesalers, and 23 per cent
for retailers. With the margins fixed, when-
ever import costs facing these Bahamian
companies rise, they are forced to apply to
the Price Control Department for an
increase in the prices they can charge.

Mr Mckenzie explained there was no way
to avoid the process, which entails his office

examining the wholesaler/retailer’s request,
and then sending it to the Attorney Gen-
eral’s Office for vetting, before the appli-
cation is sent back and approved.

However, he said the two government
ministries were looking at ways that this
process can be done more quickly.

“The process could retard the free flow of
sales, but we are making concerted efforts
so that there can be a quick turnover
between us, the AGs office and the mer-
chant,” Mr Mckenzie said.

He added, however, that this process was
necessary and should not be a reason for
Bahamian retailers and wholesalers to hold
an import shipment up.

Earlier, this week, Robert Pritchard, of
wholesaler Asa H Pritchard, which distrib-
utes the Mahatma rice brand in the
Bahamas, confirmed to this newspaper that
the firm had “to hold back” on a rice ship-
ment because it would have made.a loss
on it without having prior price control
approval.

“We had to hold back from ordering
rice,” Mr Pritchard told The Tribune. “It

had to sit in a warehouse until they [the
Price Control Department] approved it,
because you never know how long it’s going
to take.

“We’ve had to limit it to so many bales
per customer with rice, and increasingly it’s
all sold out now.”

Dionisio D’ Aguilar, the Bahamas Cham-
ber of Commerce president had recently
warned that Price Control Department’s
failure to respond in a timely manner to
increase requests for price-controlled items
could cause food shortages and supply chain
interruptions in the Bahamas.

In his budget communication on Wednes-
day, Prime Minister Hubert Ingraham out-
lined that there would be some 160 foods
which would now be exempted from stamp
duty taxes, as a part of the government’s
effort to lower the financial burden of
Bahamians.

Mr Mckenzie said they would be moni-
toring the prices of those items for internal
purposes.

Realtors: Budget can spark sector

By Diane Phillips

Several Bahamian real
estate brokers yesterday
applauded the Government’s
proposal to eliminate real
property tax on owner-occu-
pied properties valued at up
to $500,000 for first-time buy-
ers, while flexing high-end
property taxation by lifting the
$35,000-per-year fixed ceiling
on this tax.

The Government also
moved to extend stamp tax
exemption to first-time home-
buyers purchasing or building
a home for a primary resi-
dence valued at $500,000 or
less.

“This is a great thing and a
great day for Bahamians,” said
Judy Hurlock, founder and
president of Dillycrab Realty,
a firm with two offices and
some 18 staff in Exuma.

“That’s great news,” added
Island Living Real Estate’s

Rachel Pinder.

And Ken Chaplin, of, ERA
Dupuch Realty, echoed the
sentiment, saying “It couldn’t
have come at a better time
with the market as uncertain
as it is. As soon as the Prime
Minister made his speech, the
phone started ringing off the
hook. The whole industry is
talking about it.”

“We cannot rely on other
people creating stimulus in our
economy; we have to put
things like this package in
place to create an impetus that
encourages people to go ahead
and invest,” said Chris Lowe
and David Lunn, a Bahamas
Realty duo who work as the
Salt & Pepper Team, special-
ising in first-time buyers and
the affordable market.

“The person or couple who
buys a home stimulates the
economy in so many ways.
They get a mortgage, insur-
ance, they buy furniture, appli-

CREDIT SUISSE

ances, they may hire a gar-.

dener or housekeeper, they
need a BTC hook-up, BEC.
So their initial purchase has so
many offshoots that generate
customs duties, jobs and other
economic benefits.”

The positive remarks came
in response to the proposed
Budget amendments, which
will provide a tax incentive at
the affordable end of the hous-
ing market and increase the
cap on which taxes are paid at
the high end. That cap now
stands at $3.8 million.

According to the proposal
announced by Prime Minister
Hubert Ingraham, while the
real property tax ceiling now
based on 1 per cent of the real

- property value would be lifted,

properties valued at more than
$5 million would be assessed at
.75 per cent.

But it was the exemption

* from real property tax and the

extension of stamp tax exemp-

Credit Suisse Group, Bahamas
Graduate Training Program

Credit Suisse Group, Bahamas has operated an Apprenticeship Training
Programme in The Bahamas since the early 1990's. Credit Suisse Group, Bahamas
is now pleased to announce the launch of its Graduate Training Programme, with
the first intake intended for July 1*, 2008. Full details and an application form can

be obtained from:

The Graduate Training Program Administrator
Credit Suisse, Nassau Branch
The Bahamas Financia! Centre, 4‘ Floor

Shirley & Charlotte Streets

P.O. Box N-4928
Nassau, Bahamas

Fax No.: 242-356-8148

Application forms should be returned NO LATER THAN JUNE 9, 2008

AIM

Credit Suisse Group, Bahamas is committed to identifying and developing the
best young talent in The Bahamas. Credit Suisse Group, Bahamas is offering
one (1) year Graduate Training Contracts to College of The Bahamas graduates
or graduates returning to The Bahamas from accredited colleges abroad.

The program will accommodate three (3) graduates. Successful applicants will be
awarded a one year contract of employment during which time the graduates will
rotate between or within different business units or departments of Credit Suisse
Group entities. Permanent employment opportunities will be evaluated at the end

of this period.
NDITIONS

. The candidate is required to have a Bachelors De
following or suitably similar disciplines:

Banking and Finance
Engineering
Mathematics

Finance

Economics
Economics & Finance
Management
Accounting

* Computer Information Systems

gree in one of the

2. The candidate must have graduated with a minimum grade point average of
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3. The candidate cannot be an immediate family member of a person employed

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BENEFITS

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tion that most real estate bro-
kers thought would make the
difference, some saying it
would kickstart the somewhat
stagnant market.

“IT can think of one client
right now who could not afford
a certain condo she was look-
ing at yesterday, and with this
announcement, she can,” said
Mrs Pinder. “It was that close

and this will make the differ- .

ence. The average Bahamian
will now be better able to
afford a home.”
According to Mrs Hurlock,
the legislation will impact the
lower-end market and could
be just the trigger to move

someone from renting to own-

ing.

“The obvious result is that it .

benefits lower income fami-
lies, and could make the dif-
ference between continuing to
rent and deciding to buy right

See page 6B

ColinaImperial.

NOTPECE |




in New Providence, Freeport, Abaco and Exuma will be |
CLOSED on Friday 30 May 2008 4)
forthe companys Annual Fun Day. i

NOTICE

NOTICE is hereby given that WINIS LOUIDOR of
MARSH HARBOUR, ABACO, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship,
registration/naturalization as a citizen of. The

for
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 30th day of May 2008
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.






PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CROFTON WHITFIELD :
BEEN of #207 HUDSON ESTATE, Grand, Bahama,
Bahamas intend to change my name to CROFTON
WHITFIELD BAIN. If there are any objections to this change.
of name by Deed Poll, you may write such objections to
the Chief Passport Officer, RO.Box F-43536, Grand
Bahama, no later than thirty (30) days after the date
of publication of this notice.











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PAGE 4B, FRIDAY, MAY 30, 2008

THE TRIBUNE



a a SS ae
‘Major underestimate’ on $129m Stamp collection

FROM page 1B

gained from property transac-
tions worth more than
$250,000 was just bringing the
category "into line with what
has happened so far this year".

He added: "It is not to
reflect any projected increase,
just to bring it to the level of
what it should have been in
the first place. The $98 mil-
lion was really an underesti-
mate, and it was inadequate
in terms of forecasting. There
ought to have been a higher
level."

The more than $51 million
increase in Stamp Duty
payable on the high-value
property deals is, on the face
of it at least, the single largest
revenue line item increase in
the 2008-2009 Budget.

Other revenue items seeing
a major increase, as foreshad-
owed by the Prime Minister
in his Budget address, were
bank and trust company
licence fees. These have more
than doubled, rising by 113
per cent to $25.6 million com-
pared to 2007-2008 estimates
of $12 million.

The Government thus
appears to have taken on
board the suggestions submit-
ted by Chamber of Commerce
president Dionisio D'Aguilar
in a Tribune Business article
written a week ago today, in
which he suggested raising
bank and trust company
licence fees.

The move, though, is unlike-

_ly to please Bahamas-based

banks and trust companies.
Meanwhile, Mr Laing con-
firmed that one consequence

Legal Notice

NOTICE



“The $98 million was really an
underestimate, and it was inadequate
in terms of forecasting. There ought
to have been a higher level.”



of the decision to amalgamate
customs and Stamp duties on
imports into one single rate
would be an increase in taxes
paid on baggage items by
Bahamians and residents
returning to this nation.
Previously, only customs
duties were paid on imports
brought into this nation in res-
idents' luggage/baggage when

they arrived at Bahamian air-

ports and sea ports. The first
$300 worth of goods was

Zhivargo Laing

exempt. However, both cus-
toms and stamp duties were
paid by companies on bulk
freight shipments.

Amalgamating the two into
one, or switching imports into
an Excise Tax regime, from
July 1, 2008, onwards. means
that taxes paid on baggage
items by Bahamas residents
will increase, as they are
aligned with the freight
regime.

This is unlikely to please

consumers, but Mr Laing said:
"T think there now is provi-
sion for that to happen. There
was really a discrepancy in the
policy that applied, and
because of the amalgamation
there is a single regime cov-
ering all ports of entry."

On the revenue side, the
Government's Budget large-
ly consists of moving funds
from one line item into anoth-
er, with the new Excise Tax -
projected to generate $234
million in the 2008-2009 fiscal
year - absorbing the $131.302
million drop from the elimi-
nation of Stamp Duty on
imports.

The $77.444 million decline
in import duties is largely from
items such as vehicles and fuel
being moved under this Excise
Tax.

. However, gaming taxes,
which are levied at a basic rate
plus a percentage of the win-
nings on the Bahamas' four
casinos - at Atlantis, the Crys-
tal Palace, Emerald Bay and
Isle of Capri's Our Lucaya

property - are projected to
drop by 45.6 per cent, falling
from 2007-2008 estimates of
$28.5 million to $15.5 million.
This is a fall of $13 million.

Mr Laing yesterday said the
gaming tax projections had
been dictated by the overall _
state of the Bahamian and
global economies.

He added: "The judgment
is that we-will not get as much
revenue as we ought to get.
It's always better to be con-
servative than overly opti-
mistic. "

"The casino in Freeport is
not one we expect to gain a
great deal of revenue from, as
there are circumstances per-
taining to that casino as well."

Mr Laing added that the
Stamp Duty exemptions
announced for homeowners
purchasing lots, new houses,
existing houses or properties
for renovations to serve as
their primary residences,
would apply to first-time buy-
ers whose properties were val-
ued at less than $500,000.

FORTUNE VALLEY INC.



Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of FORTUNE VALLEY INC. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

- ARGOSA CORP. INC.
(Liquidator)



_ Legal Notice

NOTICE

- AUREX SLOPES INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of AUREX SLOPES INC. has been com-
pleted; a Certificate of Dissolution has been issued and the
Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

PEMANCHA HEIGHTS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of PEMANCHA HEIGHTS INC. has
been completed; a Certificate of Dissolution has been is-
sued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
CENTRAL PRIME
PARTNERS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of CENTRAL PRIME PARTNERS INC.
has been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off. the
Register.

ARGOSA CORP. INC.
(Liquidator)





GRAHAM, THOMPSON & Co.

COUNSEL & ATTORNEYS-AT-LAW * NOTARIES PUBLIC |

WILL BE CLOSED
FRIDAY, MAY 30, 2008
For Our
ANNUAL FUN DAY

Nassau Chambers

Sassoon House
Shirley Street & Vctoria Avenue
P.O. Box N-272 °
Nassau, New Providence,
The Bahamas
Tel: (242) 322-4130
Fax: (242) 328-1069

Freeport Chambers
The First Commercial Centre
3rd Floor, Suite 9
P.O. Box F-42451
Freeport, Grand Bahama, .

The Bahamas
Tel: (242) 351-7474
Fax: (242) 351-7752

Legal Notice

NOTICE

LIBERTY CRUSADE LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of LIBERTY CRUSADE LTD. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

WANTED

Applications for the position of

ASSISTANT MANAGER
FOR A RETAIL STORE



Experience in managing people
Must have excellent organizational skills,
excellent customer service and sales skills

Please mail
Resume and photograph to:

Assistant Manager Position,
P.O. Box N-523,
Nassau, Bahamas

Legal Notice

NOTICE

BERGERONETTE LIMITED ©
¢

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BERGERONETTE LIMITED has
been completed; a Certificate of Dissolution has been is-

! sued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

FINAL NOTICE
IN THE MATTER OF
ALSTOM POWER ESPANA
BAHAMAS LIMITED

(In Voluntary Liquidation)
AND
IN THE MATTER OF THE COMPANIES ACT 1992

FINAL NOTICE is hereby given that in accordance with
The Companies Act 1992, ALSTOM POWER ESPANA
BAHAMAS LIMITED was dissolved on 15th February,
2006.

ARGUS ADVISORS
First Commercial Centre
Second Floor, Suite #1
Freeport, Bahamas
Liquidator

CUSTOMER RELATIONS OFFICER

A leading PI. resort is seeking a qualified
Customer Relations Officer. The ideal candidate would
possess a four years business degree, have five years
experience and the ability to fluently speak a second
language (preferably French). Candidate must have
computer skills and be able to travel extensively to
other corporate facilities. Serious inquiries only.
















Interested persons should submit by May 31st, 2008 a
detailed resume and reference letter to:
pellis@clublandor.com or mail to:

Club Land’Or
Paradise Island
P.O. Box 6429 SS
Nassau, Bahamas



THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 5B



Hybrid vehicle duty
reduction ‘meaningless’

FROM page 1B

has confirmed taking a deci-
sion yet.”

Mr Lowe explained that the
electrical batteries used by
hybrid vehicles, which switch
to an electrical engine from a
regular one when the vehicle
hits a certain speed, particu-
larly on freeways, “are com-
pletely different” to what the
Bahamas-based auto dealers
are used to dealing with.

In addition, Mr Lowe added
that Honda wanted to ensure
the Bahamian emergency ser-
vices were trained to deal with
accidents involving hybrid
vehicles.

He pointed out that hybrid
vehicles had electrical cables
running throughout their inte-
rior, and Honda feared that
rescue crews could electrocute
themselves if, when using the
‘Jaws of Life’, they cut
through one of these.

Then there is the price of
hybrid vehicles, Mr Lowe say-
ing that the duty reduction
announced by the Govern-
ment was likely to make little
difference to consumers in
terms of price.

On a Honda Civic, for
example, which normally costs
$27,000, imposing a 25 per
cent customs duty rate and 7
per cent Stamp Duty (32 per
cent) when the two are amal-
gamated, would give a price
of $35,640.

This compared to a top rate,
under the previous 65 per cent
plus 7 per cent Stamp Duty,
of $46,440.

While this translated into
savings of almost $11,000, Mr
Lowe said a hybrid was “still
very highly priced”.

He added: “There’s people
that have asked for them, but
when I tell them the cost, they
say ‘Never mind’.”

On the Government’s deci-
sion to place vehicles, which
are one of its main revenue
sources, under the Excise Tax
regime that is set to take effect
from July 1, 2008, Mr Lowe
said it would not have any
impact in terms of reduced tax
rates.

Combining import and
Stamp Duty into one, he
added, would reduce two line
items into one for auto dealers
and their customs brokers
when it came to dealing with

the Customs Department.
Mr Lowe, in his overall
assessment of the 2008-2009
Budget, said: “It sounds good.
It’s a good PR Budget.”
Referring to the Govern-
ment’s decision to eliminate
the 2 per cent Stamp Duty on
160 food products, Mr Lowe
questioned how much this
would reduce food prices by
and whether it make a signifi-
cant impact on Bahamian con-
sumers’ pocket books, given
that prices on many staples
had increased by 30 per cent

‘in many cases.

“Two per cent off the price
is nothing by the time the
product reaches the store
shelves,” Mr Lowe said.

“It’s a nice gesture. They’ve
taken some initiatives, and are
prepared to be helpful to the
average citizen.

“But at the end of the day
it’s not going to make much
difference.

“They’re increasing the
debt, increasing spending,
increasing the deficit and
decreasing taxes. That pretty
much sounds like a recipe for
disaster.”

$4m FINCO loan provision hints at mortgage concern

FROM page 1B

yesterday. Jan Knowles, spokesperson for Royal
Bank of Canada, which holds a majority 75 per cent
stake in FINCO, e-mailed to this newspaper the
chairman’s statement published in the newspapers
yesterday.

Questions submitted to Ms Knowles, including
whether the $3.943 million loan loss provision was a
one-time event, or if more were likely this year; the
percentage of FINCO’s total loans that were in non-
accrual; and the year-on-year increase in non-accru-
al loans, were not answered before press time last
night. FINCO said the increase in non-accrual loans
was “manageable” in the chairman’s statement,
adding that its capital ratios were strong and in
excess of minimum regulatory requirements.

Indeed, the loan loss provisions account for less
than | per cent of FINCO’s total mortgage loan
book of almost $650 million as at April 30, 2008.

FINCO is widely regarded as the market leader in
the Bahamian mortgage industry, and is therefore
likely to be more exposed than most to any sectot
downturn, as Bahamian consumers find it increas
ingly difficult to make repayments given soaring
energy and food costs.

Yet Bank of the Bahamas International, which is
also involved in mortgage lending, only increased its
net provision for loan losses by $609,364 in its 2008
third quarter. .

This has caused some analysts to raise questions.
The Tribune learnt yesterday, about FINCO’s over
all portfolio quality when it comes to some loans.

CTellatomelan Atxe levi bs
Nn Lela Every at ee

~ For
\
Z

RISOTTO’ *

\" 2 garlic cloves, pressed

“QUICK CORN”

1/4 teaspoon ground cumin

1 cup Mahatma® Valencia Rice

2 14 1/2-ounce cans low-salt chicken broth

1 10-ounce package frozen sweet corn

1/4 cup whipping cream or half and half

1 cup (packed) grated Monterey Jack cheese with jalapefios

Chopped fresh cilantro

jeavy medium saucepan over medium heat.

\ id garlic and cumin; sauté 1

A multi facetted communications/consulting company that is
currently undergoing market expansion wishes to employ
experienced commission sales executive. The ideal person
would have a minimum of three years in commission sales;
have their own private vehicle. We are looking for excellent
communicators that are driven: Candidates must have computer
skills and be able prepare public presentations on behalf of
companies clients.

g
ated through. Season to taste with salt and Pepper e with: ao cilantro.
s 4 to 6. : :

TL NUMBER ONE Goa | Ms 12 TC

Distributed by ASA H. PRITCHARD; LTD.
Robinson & Claridge Roads - Tel: 393-2437

A‘deégree in marketing or business is preferred but not a must.



Persons interested should submit CV’s and reference letters to:

DA#6282 r



P.O. Box N-3207
Nassau, Bahamas
by May 31, 2008.
JOB OPPORTUNITY
JOB TITLE: JUNIOR PROGRAMMER Colinalmperial
DEPARTMENT: INFORMATION TECHNOLOGY
Bahamas National Trust Position Summary:

The Batch Operator ensures that day end system processes are completed.

e
Summer Camp: sina
* Two or more years’ experience in AS/400 operations
Dry Places and Wet Spaces * Hands-on experience in batch, job processing, monitoring, back-ups

* Experience handling Windows technical issues

* Ability to function both independently and in a team environment
* Ability to manage multiple tasks at once

* ‘| year Programming Experience - Knowledge of COBAL an asset
* Excellent problem solving and troubleshooting skills

* Strong work ethic

* Strong desire to learn ,

Have your children participate in
fun learning in the Outdoors

Ages:

Daily Hours:

New Providence:
Venue:

Available spaces:
Grand Bahama:
Venue:

Available spaces:

* Good communication skills
8:30 am - 12:30 pm |
Responsibilities include but are not limited to:
July 21 - July 26 * Operating and maintenance functions for mid range systems;
' accordance with current service levels:
The Retreat, Village Road * Providing all aspects of media handling (backup media loading/unloading, dispatch/receipt of
35 (first come, first served basis) * Accurate and timely processing of information (including system utilities, production and testing
batch runs arid quality control) in and through computer systems;
The Rand Nature Centre, - * Safeguarding security of data center equipment, media and data files;
East Settler's Way : Keeping records of hardware down time;
35 (first come, first served basis) * Running system and application backups per written run log:
* Managing tape retention log;
Cost (per week): rh is ed ites at 7
. 9 ti tati allation tasks in 2 :
$100 (ANT meme = ean ea
: ‘ : and technical specifications:
For more information call: + Basic Programming:
352-5438 (Grand Bahama) * Participating in and directing, problem definition and problem resolution activities;
email: bnt@bnt.bs * Adapting to the Company’ s development environment and tool sets; and

5-12 * Flexible work schedule, 8pm-4am or 9pm-Sam
July 28 - August 2 * Monitoring overnight batch processing and performing print processing as scheduled in
offsite media, etc);
July 7- +t | * Maintaining current knowledge of operating procedures and standards;
Following procedures to run job requests from programmer and requester;
$150 (non BNT Members) * Accurately recording activity in daily log:
* _ Assisting in analyzing business processes In order to define application functional requirements
393-1317 (Nassau) * Writing Technical Specification Documents;
* Learning different technologies between various software packages for the movement of data.

Please apply in writing on or before 30 May 2008 to:

Richenda King

Vice President, Human Resources
#308 East Bay Street 4
P.O. Box N-4728 j
or email to: careers@colinaimperial.com /





PAGE 6B, FRIDAY, MAY 30, 2008

THE TRIBUNE







Share your news

The Tribune wants to hear from people who are
making news in their neighbourhoods. Perhaps you
afe raising funds for a good cause, campaigning for
improvements in the area or have won an award.

If so, call us on 322-1986 and share your story.





cecereremrrrermeerirein

KINGS REALTY
MARKETING/ADVERTISING MANAGER

King’s Realty Limited is in search of a select individual to join
our team.

POSITION SUMMARY:

Candidate will be responsible for the day to day marketing of
the company including but not limited to Public
Relations/Marketing Events and preparation of. relative
Marketing Materials/Brochures. :



%

QUALIFICATIONS:

Minimum of a Bachelor’s Degree

Strong Marketing Strategies

Knowledge and Experience in Website Design
Thorough working knowledge of programs such as
Microsoft Publisher, Adobe Illustrator, InDesign,
Photoshop and other relative software

Strong interpersonal skills :

Interested persons should submit applications in writing to
P.O. Box N-10414, Nassau, Bahamas, Re: Marketing Position
or via e-mail to bahamas@kingsrealty.com

TEACHING VACANCIES

_ Temple Christian Elementary School
invites applications from qualified teachers
for the 2008-2009 school year for:

Art Teacher

(Grades |- 6)
Applicant must:
Bea born-again practicing Christian who

is willing to subscribe to the Statement of
Faith of Temple Christian Schools.

A.

Have an Associates and or Bachelor’s
peace in Education from a recognized
College or University in the area of
specialization. ;

Have a valid Teacher’s Certificate or
Diploma.

D. . Be willing to contribute to the school’s
extra curricular program.

Application must be made in writing with full

Curriculum Vitae, a recent coloured photograph

and three references should be sent to:

The Principal
Temple Chrisitan School
Collins Avenue
P.O.Box N-1566
Nassau, Bahamas




INDEX: WCLOSE 88c
"_WWW.BISXBAHAMAS.COM.

Previous Close Tod





Abaco Markets










11.80 11.50 Bahamas Property Fund
9.68 9.30 Bank of Bahamas 9.43
0.99 0.85 Benchmark 0.89
3.74 2.95 Bahamas Waste 3.60
2.70 1.30 Fidelity Bank 2.35
14.10 10.42 Cable Bahamas 14.03
3.15 2.10 Colina Holdings 2.87
8.50 4.80 Commonwealth Bank (S1) 7.22
7.22 3.32 Consolidated Water BDRs 4.04
3.00 2.20 Doctor's Hospital 2.95
8.00 6.02 Famguard - 8.00
13.01 12.50 Finco 12.50
14.75 12.30 FirstCaribbean 12.30
6.10 5.05 Focol (S) §.55
1.00 0.41 Freeport Concrete 0.41
8.00 6.79 ICD Utilities 6.79
12.50 8.60 J. S. Johnson 12.00
10.00 10.00 Premier Real Estate 10.00
52wk-Low Symbol Bid $

14.60 14.25 Bahamas Supermarkets 14.60

8.00 6.00 Caribbean Crossings (Pref) 6.00

0.54 ND Holdings _ 0.35

41.00 41.00 ABDAB- 41.00

14.60 14.00 Bahamas Supermarkets 14.60

0.55. 0.40 RND Holdings 0.45
Ses Ce : oe 8 Se . BISX Listed

52wk-Hi 52wk-Low Fund Name NAV
1.3124 1.2443 Colina Bond Fund 1.312381****
3.0008 2.6629 Colina MSI Preferred Fund 2.989349****
1.3909 1.3410 Colina Money Market Fund 1.390896***
3.7969 3.2018 Fidelity Bahamas G & | Fund 3.6960*****
A909 4684 44 ER1AQ Cidalithy Drima Innama Cind AD ARRARER®

Developer pays

$7.5m for 50%

stake in Harbour Island property

FROM page 1B

sheer relaxation," said Chris
Maguire, Cypress Equities chief
executive. 2

“More importantly, Rock
House mirrors the exclusivity
and the ‘anything you ask for’
service at Royal Island, a 430-
acre private island residential
and resort community with 15
miles of coastline that we're
developing 30 minutes away by
water taxi.”

Mr Maguire said nothing will
change at Rock House. "We
see it as an elegant beachhead
to introduce the advantages of
owning a piece of a pristine
Bahamian island. Potential

owners can fly into North
Eleuthera International Air-
port, spend a night or two at
Rock House, immerse them-
selves in the spirit and style of
the local culture, boat over and
tour Royal Island, have lunch
or dinner, maybe overnight in
one of our villas and return to
Rock House,” he said.

“By partnering with Wallace
and Don, we can create a total
experience for the person who

wants a luxurious residential:

hideaway in a community on a
virtually untouched private
island with ocean views."

A small Royal Island sales
centre has been created just off
the lobby so that Rock House
guests can learn more about

Royal Island and the 83-room

* Montage Royal Island Bahamas

resort.

When complete, future Rock

House guests will enjoy its
restaurants, spa and beach club.
They will also have playing
privileges on the 18-hole Jack
Nicklaus Signature Golf
Course, with its 14 oceanfront
holes, tennis and dining.
‘ Royal Island homeowners
and their guests will also have
the Rock House services and
amenities available on day trips
to Harbour Island.

In addition, Royal Island will
have a 140-acre naturally pro-
tected deep-water yacht marina,
with 200 slips ranging from 50
to 400 feet, scheduled to open

in mid-2010.

Rock House was originally
built in the early 1940s as a bed-
and-breakfast on Harbour
Island.

The property was acquired in
July 2002 by Miami builder Mr
Tutt Ill, who created estate
homes for the late fashion
designer, Gianni Versace, and
the singer-actress Cher.

Mr Tutt combined the hotel
with the adjacent Catholic

School House, and reopened |,

the Rock House as a nine-room
casual yet elegant boutique
hotel and restaurant.

Rock House rates range from
$380 to $950 a night.







Colina Over-The-Counter Securities



Health and police certificates required.
Apply in person to:
_ Athena Cafe,
Bay / Charlotte Street
Tel: 326-1296 / 322- 8833

Legal Notice
NOTICE

SHU WING HOLDINGS LIMITED
NOTICE IS HEREBY GIVEN as follows:
(a) SHU WING HOLDINGS LIMITED is
in voluntary dissolution under the provisions

of Section 137(4) of the International Business
Companies Act 2000.

‘(b) The dissolution of the said company commenced on
the 30th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General.

- (c) The Liquidator of the said company is Mr. Michael
~ . Low of 1 Raffles Link# 05-02 Singapore 039393

Dated this 28th day of May, A.D. 2008

Mr. Michael Low
“Liquidator

NOTICE
KROY INVESTMENTS INC.

Pursuant to the Provisions of Section 138 (8) of the

International Business Companies Act 2000 notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant

to a Certificate of Dissolution issued by the Registrar

General on the 15th day of May, 2008.

‘Lynden Maycock
‘ Liquidator
i of
KROY INVESTMENTS INC.






FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES






















1.84
11.80
9.43
0.89
3.60
2.35
14.03
2.87
7.22
3.95
2.95
8.00
12.50
12.30
5.55
0.41
6.79
12.00
10.00






















Ask $ Last Price Weekly Vol. EPS $



15.60 14.60 1.160
6.25 6.00
0.40 _ 0.35




43.00 41.00 4.450
15.60 14.00 1.160
MutuatFunds
YTD% Last 12 Months
1.58% 5.47%
-0.38% 12.26%
1.15% 3.86%
-2.66% 16.13%

A Q70/ B79









Realtors: Budget
can spark sector.

FROM page 3B .

now, and that’s excellent,” said Mrs Hurlock. “We see a lot of » |
Bahamians who are buying land now in Exuma, hoping to build
later, and the stamp tax exemption could accelerate the con-*
struction. I’m just looking forward to seeing the details, but |
applaud the intent.”

“We deal with a lot of first time-home buyers and this defi-
nitely is needed,” said Messrs Lowe and Lunn. “If you want to.
stimulate the economy, this is a great starting point. We believe }
this should be reserved for Bahamians and we hope that is the
intent.”

Mrs Pinder said the exemption from stamp tax, which would
equate to mortgage mobility, could prove to be the most sig-
nificant aspect of the legislation.

“If people now want to consolidate their mortgage and car
loan to reduce monthly payments, they can do that without |

' incurring additional tax and that’s great news,” she said. 4

Mr Chaplin said one of the biggest surprises was that the
industry was taken by such surprise when the announcement
came.

“We have been proposing parts of this for so long, and when
it was finally announced we were as surprised as anyone, but
we’re definitely not complaining,” he said. “We will just look for
a bit of clarification about the Stamp Tax, whether it applies to:
buyers or sellers or both.” ;

HD INULU MTT

ANT TAH

Minimum of 2 yrs. experience

Must be a good communicator, team player, able to
multi-task. Posses excellent organizational skills,



good people skills & experience with Micrsoft
Word :
Email resumes to: BrightSmile@ yahoo.com

Legal Notice
NOTICE

DIBIA_ LIMITED

NOTICE IS HEREBY GIVEN as follows: °

(a) DIBIA LIMITED is in voluntary dissolution under
the provisions of Section 137(4) of the International
Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 28th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General. ss

(c) The Liquidator of the said company is Verduro

Associated Ltd. Road Town, Tortola, British
Virgin Islands

Dated this 30th day of May, A.D. 2008

Verduro Associated Ltd.
Liquidator



Legal Notice

NOTICE

BOLERO LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) BOLERO LIMITED is in voluntary dissolution
under the provisions of Section 137(4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 30th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General.

(c) The Liquidator of the said company is Mr. Michael
Low of 1 Raffles Link #05-02 Singapore 039393

Dated this 28th day of May, A.D. 2008

Mr. Michael Low
Liquidator





THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 7B







YOU/RE MY GIRL, LU ANN.

- [DON'T YOU KNOW THAT?4/ THOUGHT] TO HEAR /CONVINCE

BLONDIE.









BUMSTEAD, I ACTUALLY
ENJOYED YOUR REPORT!
DO YOU KNOW WHAT

No nv, not guns as toys! (7)

on

°
a

Y'ALL
HAVE BEEN
AGREAT ©
AUDIENCE !
T LOVE

TODAY,

THAT 1 FINALLY LOST ITW!
I'VE GONE BERSERK, BONKERS,

DEAR!

C2008 by Norm America Syndoate, lnc. World rights reserved.

I NEEDED \ WILLTHIS



WHACKO, CUCKOO, LOONEY

Lise

ED !

TUNE! I'M A TOTAL

| DETER ALES THATS PY
SWART. | TEACH. Js,
WKIDS.

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| 7 CRYPTIC PUZZLE |

ACROSS

DOWN

1

Showing a decorum that’s up to the

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©2008 by North America Syndicate, Inc. Workd rights reserved.



1 VONNO...
YOU LOOK



WE DO.--WE'RE
A POULTRY

FARM, DEAR!

ROUGHLY, HE PULLS HER
CLOSE AND... ~——

I CAN LIVE

WITH THAT!






IM CORRN...AN LEGAL
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The bidding:
East South West North:
Pass 1& 3 & 3¢
5 & Pass Pass 5¢
Pass 5% Pass 6%

+. Opening lead — eight of clubs.
. In this deal from the 1997 world
team championship final between
. France and the United States, judg-
' ment rather than superior card play
or systemic bidding differences
played the key role in a substantial

gain for the French. °

The bidding shown occurred
when Bobby Wolff and Bob Ham-
man, for two decades one of the
world’s foremost pairs, were North-
South for the U.S., with Michel Per-
ron and Paul Chemla East-West for
France. Hamman’s opening club bid

was strong and artificial, and by the
time it was his next turn, the oppo-
nents were in five clubs. Hamman
elected to make a forcing pass,
whereupon Wolff rebid his dia-
monds.

Hamman now showed his tue
colors by bidding five hearts, and
Wolff was at the crossroads. He
knew that a cuebid of six clubs,
showing first-round control of clubs
and implying interest in a grand
slam, was the correct bid, but he
feared that if only a small slam could
be made, his cuebid might provoke
the opponents into taking a profitable
sacrifice at seven clubs. So he settled
for a raise to six hearts, figuring that
plus 1,430 or 1,460 was better than
setting seven clubs doubled four or
five tricks.

Wolff was correct in this regard,
since seven clubs doubled would
probably have. gone down five for
1,100 points. But the tactic did not
allow for the possibility that the
French pair at the other table might
bid and make seven hearts for a score
of 2,210.

Wolff's “less is more” strategy
did indeed backfire when Christian
Mari and Alain Levy reached the
grand slam despite similar interfer-
ence by Eric Rodwell and Jeff Meck-
stroth. The 750-point difference gave

the French a pickup of 13 IMPs, and”

virtually locked, up;the world title.

TARGET



: . Al - :
HOW many words of four letters or more can you
make from the letters shown here? In making a word,
each letter may be used once only. Each must contain

~ the centre letter and there must be at least one nine-

letter word. No plurals, or verb forms ending in “s”, no
words with initial capitals and no words with a
hyphen or apostrophe permitted. The first word of a
phrase is permitted (e.g. inkjet in inkjet printer).

TODAY’S TARGET

Good 15; very good 22; excellent 30 (or more).

Solution Monday.

YESTERDAY’S SOLUTION

aglet alder alee alert alerted alter altered dale
deal dealer dealt dele delegate delete delta eagle
eaglet earl elate elated elder gale geld glad glade
glare glared glee lade lager lard large late later
lead leader ledge ledger leer leered legate legatee
leger rale ratel real reel reeled regal regale
regaled relate related relegate RELEGATED tale

teal treadle










I







HOW AM I SUPPOSED TO
LEARN SURGERN IF T
CANT DISSECT ANNTHINS ?

°
g
t
a
i



SSmrt



FRIDAY,
MAY 30

AQUARIUS - Jan 21/Feb 18
You may not have as much energy as
you think, so slow down your pace.

« Steer clear of conversations about
politics or religion with family mem-
bers who have opposing views.

PISCES — Feb 19/Mar 20
Because Pisces tend to feel sorry for
themselves, they are often held back
from the good things in life. You
can’t improve your life if you’re
always drowning in sorrows. Many
good things could happen this week,
but you won’t be able to experience
them if you’re home sulking.

ARIES — Mar 21/Apr 20

Efforts to impress other people could
have disconcerting results. Don’t
expect favors from others now. A

. Telationship with a member of the

opposite sex could become serious.

TAURUS — Apr 21/May 21
Watch your temper this week. You may
end up driving someone away with one
of your sudden emotional outbursts.

GEMINI — May 22/Jun 21
This is not a very good week to pur-
chase secondhand items. They could
‘be of poor value. If you are looking
to make a purchase, shop around for
a few weeks, then decide.
CANCER - Jun 22/Jul-22

You will have an especially easy time
with teamwork and shared projects. A
lot will be accomplished.

LEO - Jul 23/Aug 23

, This will prove to be an exceptionally
| talkative week...even for you! It’s an

ideal time for exchanging views, mak-
ing deals and having heart-to-heart
conversations with those you love.

VIRGO - Aug 24/Sept 22

You may have recently been involved
in some activity that you don’t want to
become public knowledge. But your

‘secrecy may be noted by those close
to you and lead to difficult questions.

LIBRA - Sept 23/Oct 23

This week could easily start with
some family arguments connected
with leisure activities. Try to be
more decisive when it comes to
making plans with friends.

SCORPIO — Oct 24/Noy 22

You’ll have to try to be less straight:
forward than usual. There is a prob-
lem — something to do with a close
friend — and you could be involved.
It’s a situation that doesn’t call for
straight talk, so try to keep your

‘Opinions to yourself.





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completely (9) a (6) Recent disagreements with family
; ee 2 Toffs dressed up at the time in )*6 | members should be resolved. You
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4 pati a pe lot of cash (5) ; Tae ave aa been alleviated.
15 Half want to yell “Loser!” (7) 4 Fled when let go, having been N CAPRICORN — Dec 22/Jan 20
16 Snip arag in shreds, to put in searched (9) S Make sure social activities don’t
the bin (7) 5 Switch on and we climb in conflict with your rigorous work
17 Happen to have our duplicate keys to with him (7) : a schedule. If you neglect your respon-
enter with (5) 6 Will have a bad dream about, it’s > sibilities, you could find yourself in
18 Iscutting back pansies running riot gathered (10) (7p) a a bad situation next week
in the garden (5) 7 One of the high-ups in the 20 Besides, lam through with her (5) entertainment world (4) mi} (| | fT me Ty fe
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25 Pushes hard, hopes it penetrates (7) 9 oe on the English, EHEEREREEEES |
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Australian port (6) 26 Not putting it on is modest (10) what is a simple tactic at
32 Best he it na smooth 28 Entrusted to, when unable to back ceria level. At his ne ‘i
consistency out of (9) ; — Denmark's Larsen was ranked wor
35 When speaking, Karl is impressive (5, J | 29 By month’s end, a third may be badly ACROSS 25. Onethousand DOWN 21 Dried number three after Bobby Fischer
j j : 8 Rich(7 illi 1 Anno 7 : 3 ‘
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36 Pe 62) drop: it’s funny (6) 13 Webfooted 3 Permits(5) 3 Scapegoat © 26 + Wide-ranging, proved a psychological blow from
roblem that’s upsetting the cover 32 Giving money to me again for a mammal (5) idity (5 extensive (5-5) 3
girl (7) luxury commodity (8) 14 Dea at. ROOK } 4 Formergold 28 Complicated which he never fully recovered.
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whatshisname? (5) having an affair? (6) 16 Former _ 37 Avoiding the backwards (7) ion {7} always optimis p 0
42 It’s extra small to fit inside 34 Father and kid performing in Pakistani issue (7) 6 Soft flu 30 Covort ier ‘ invade the white defences by Nb6,
Inspector (5) “Superman” (7) 7 ee 39° Unscrupulous 7 er 32 Looks for Red and Nc4. Can you spot White's
43 Checking on how it’s being 38 Provided food that was adequate for 18 Mother-of- opportunist (7) stake (4 (3) winrling two-move sequence which
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‘CRYPTIC SOLUTIONS
EASY SOLUTIONS, a en
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: hopeless.
:



PAGE 8B, FRIDAY, MAY 30, 2008

THE TRIBUNE



$20m duty savings to bolster BEC’s position

@ By NEIL HARTNELL
Tribune Business Editor

The $20 million the
Bahamas Electricity Corpora-
tion (BEC) will save in annual
customs duty payments on its
fuel imports over the next two
years will help shore up its
own weak financial position,
a government minister yester-
day told The Tribune yester-
day.

Phenton Neymour, minister
of state for public utilities, said
the Government’s Budget ini-
tiative to exempt BEC from
paying 10 per cent customs
duty and 7 per cent Stamp
Duty on its fuel imports over
the next two fiscal years would
give the Corporation financial
breathing space to focus on
infrastructure projects and
develop alternative energy
sources.

Explaining that it was not
just BEC’s residential and
business customers who would
feel the benefit of the tax
exemption, Mr Neymour said:
“It will definitely assist BEC
with its financial position.

Draw takes p

* Minister says no increase in basic tariff rate, with impact from fuel
import savings to ‘most likely’ be felt by consumers in August

* Initiative gives BEC breathing space to focus on infrastructure devel-
opment and alternative energy, with Bahamas lagging behind region on

latter

“We took the position that it
would not be appropriate at
this point in time to pass on
some of these additional fuel
costs to the customer by
increasing BEC’s rates.

“This will definitely put
BEC in a stronger financial
position, so it can continue
with some of the development
plans it has.”

Mr Neymour, in previous
House of Assembly address-
es, had estimated that BEC
could lose $38 million during
the 2008-2009 Budget year.
The $20 million in customs
duty savings alone, then, could
cut that by more than half.

The minister yesterday con-
firmed there would be no
increase in BEC’s basic tariff
rate, even though the Govern-

BRS ge ST





“This will definitely put BEC
in a stronger financial posi-
tion, so it can continue with
some of the development

plans it has.”



Phenton Neymour

ment had said the Corporation
was losing $18 million per year
in revenues as a result of a rate
reduction brought in by the
former PLP government in
2004.

“There will not be any
increase in the basic rate at

eee

this time,” Mr Neymour told
The Tribune. “There was a tar-
iff study, and that study is still
being reviewed at BEC.”

The Government directly
targeted soaring energy costs
in the 2008-2009 Budget, given
that BEC’s fuel surcharge had

lace Friday, 6th June, 2008.

Spend $30 in fuels or $10 in the C-Store and you will get an entry form. Fill
out the entry form and drop it into the boxes provided for your chance to win
prizes for trips for 2 to one of five exciting destinations around the World.

increased by some two-thirds
of 66 per cent year-over-year
in February 2008.

Since then, the fuel sur-
charge has remained close to
February 2008 levels, although
inching slightly higher, at
between $0.16-$0.17 per kilo-
watt hours. The increase,
though, has further reduced
disposable incomes for
Bahamian families, especially
those in the lower income and
middle classes already strug-
gling to make ends meet, and
raised the operating costs for
all Bahamian businesses.

In his Budget statement,
Prime Minister Hubert Ingra-
ham said the Government’s
strategy would remove the
impact of the 7 per cent Stamp
Duty that BEC pays on its fuel





imports from consumer bills.

The fuel surcharge, he
added, currently includes the 7
per cent Stamp Duty, mean-
ing that BEC passes this
expense directly on to its con-
sumers.

Mr Neymour said Bahamian
households and businesses
were most likely to see the
Stamp Duty removed from
their BEC bills and the fuel
surcharge in August 2008,
although July remained a pos-
sibility.

He explained: “It is depen-
dent upon [BEC’s fuel] inven-
tory and the pricing, and so
the timing may vary, but we
anticipate some time, if we’re
lucky, in July, but some time in
August is looking more like-
ly.”

Mr Neymour said the Goy-
ernment would review the
effects of the two-year sus-
pension - and make a decision
on whether to extend it - when
that period was up.

He indicated, though, that
the move had given BEC a
welcome breathing space from
the increasing costs and finan-
cial pressures it has been feel-
ing. “It is giving us an oppor-
tunity to continue our efforts
in producing alternative ener-
gy sources, and co-ordinate
those with our National Ener-.
gy Policy,” Mr Neymour said.

He described formulation of
this policy as “progressing
well”, the committee charged
with developing it meeting reg-
ularly.

Mr Neymour said the com-
mittee’s recommendations had
already been incorporated into
the 2008-2009 Budget, indicat-
ing they were responsible for
the inclusion of “some of the
energy-saving items”.

To encourage energy effi-
ciency, the Government will
reduce import duties on ener-
gy-saving home appliances
from 35 per cent to 15 per
cent; lower the import duty
rates on energy-efficient win-
dows, low-flow shower heads
and low-flow toilets to 15 per
cent; and lower the import
duty on hybrid vehicles from
between 45-65 per cent to 25
per cent.

The importation of energy+
saving light bulbs, solar lamps,
batteries, converters and wind
engines will also become dut
free. On alternative energy,
Mr Neymour said: “The
Bahamas is somewhat behini
some of our other colleagu
in the region, and so we have a
lot of catching up to do. Wit
the team we have, we’ll mak
good progress.”








The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.














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CHIPS AHOY

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$4m FINCO loag a
rei Nn Ibi Vehicle duty

lm By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

FOR fear of an all out “war”,
police are increasing their pres-
ence around the Doris Johnson
Senior High School today after
a student there, robbed and lat-
er stabbed two students from
RM Bailey High yesterday.

An update on. the condition




gs CLOUDS, SUN
so and STORM



BAHAMAS EDITION

EEO EPIDUIN
| €USA TODAY
]

FRIDAY, MAY 30, 2008

+ ‘Major’ underestimate on $129m

= Stamp UI TH AC)

Stabbing sparks
school war fears

Police increase
presence around
Doris Johnson
Senior High

of the two students from the

Princess Margaret Hospital was
not available up to press time;
however it is understood that
one student was stabbed three
times in the back, and the other,
once in his side.

While officials at Doris John-
son remained tight-lipped about
the incident, an eye-witness told

SEE page 15

Govt under pressure to
stop Bimini project phase

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

GOVERNMENT has been
told that “if Bimini is to be
saved” it must stop the devel-
opers of the Bimini Bay Resort
from continuing with phase II of
_ their project.

Jean-Michel Costeau (pic-
tured), grandson of world-
famous ocean-explorer and con-
servationist Jacques Cousteau,
issued this clarion call in a two-





eth LXer) °° atixeS ee

9° LICCGIEE ocd] ©
= ° adie kjStreet]/Northi-acable Becch We

page article
that appeared
recently in the
international
magazine,
“Diver.”
Both he
and his broth-
er, Fabien
Cousteau,
have focused great attention on
the project's environmental
impact, with Fabien creating a

SEE page 10






Felipé
Major/
Tribune
staff



THE BLOODY aftermath of the latest example of school
violence.

Caution urged on
gas-saving device

AN expert urged caution over a new gas-saving device designed
to cut motorists’ fuel bills.

While hydrogen-based systems are feasible, they require sound .
engineering design, plus proper operation and maintenance prac-
tices, it was claimed.

His comments came after Nassau brothers Bernard and Tyrone
Miller acquired a business licence for their “water convertor”
device which they claim saves gas and guarantees cheaper motor-
ing.

They are hoping to help other Nassau motorists save money by
installing their distilled water containers, which convert:water into
hydrogen and oxygen and prevent gas from overworking.

In advising caution yesterday, the expert cited the Schatz Ener-
gy Research Centre, which offers a variety of safety practices with
regard to the hydrogen formula.

“The principal hazard presented by hydrogen systems is the

SEE page 15











3 a & les?
Burrito







-actice murder



| Jurors return a unanimous

verdict on ‘brazen’ shooting

By NATARIO McKENZIE

A JURY yesterday unani-
mously found James McKenzie
guilty of the murder of Kevin
Dean who was shot multiple
times during a “brazen attack”
while attending a junkanoo
practice in December 2006.

The 12-member jury returned.

with the unanimous verdict

*.-after.some two: hours.of delib-....

erations. The Crown is seeking
to have McKenzie, 24, receive

the death penalty for the mur-
der. Mckenzie’s sentencing for
the murder conviction has been
deferred as a sentencing hearing
will take place first.

The prosecution called 17 wit-
ness during the week-long trial
which was heard before Justice
Stephen Isaacs. In her closing
arguments yesterday, Deputy
director of au Ren seo BONS

SEE page 15

PLP: Tax cuts an attempt
to make up for ‘blunder’

THE tax cuts announced by
the prime minister in the budget
presentation represent an
attempt by the government to
make up for their “blunder” of
stopping and reviewing con-
tracts left in place by the PLP
government, charged the leader
of the PLP.

. “What the government is now
attempting to do, and again
shamelessly so, is to make up
for their blunder, the time that
has been lost and the pain and
suffering they have inflicted, by
introducing a budget that will
over compromise its revenue
base,” said Perry Christie at a
news conference at the office
of the leader of the opposition,
surrounded by members of his




Partial Cabinet
SJOLUIsi Comoe mer tKen

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net








A careful study of the bud-
get reveals that the prime
minister will soon reconfig-
ure the ministries in his gov-
ernment, leading to at least a
partial redistribution of port-
folios for several ministers.

“The country is owed an
explanation on the apparent
changes made to ministries
and portfolio allocations,”
said Opposition leader Per-
ty Christie at a press confer-
ence at his Parliament Street
office.

SEE page 16














CORONADO

PR EON EF

“For 50 years Coronado Paint has been the choice
of painting professionals, providing paints with
lasting performance and consistant quality.”



caucus.

He said
that the
opposition
does sup- .
PL OF Eat
“meaning-
ful tax
reductions
to citi-
zens” but
the gov-
ernment
must explain how it expects a
|revenue increase of $137 mil-
lion this fiscal year even though
there are no new or significant
tax increases, and the economy
is only expected to grow by 2
per cent in real terms.

SEE page 10

Call for Millar’s
Creek alleged

abuse probe

OVER a thousand letters
calling for an independent
investigation into alleged abuse
by officials at Millar’s Creek
have been sent to Police and
Government officials from
around the world.

Amnesty International publi-
cised allegations made by
Emmanuel McKenzie, chair-
man of the Millar’s Creek
_Preservation Group, and hun-
dreds of witnesses, who claim
armed police and immigration
officers burst into the non-prof-
it organisation’s fundraising
event at The Banana Tree Cafe

SEE page 16



AA] sts

Wulff Road
Opposite Mackey Street
Tel: 393-0512, 393-8006,

OR 393-3513

Open Monday to Friday 7am -4pm
Saturday 7am - 3pm


PAGE 2, FRIDAY, MAY 30, 2008

THE TRIBUNE





Capital expenditure allocation increased |
to upgrade nation’s infrastructure

The government has
increased by 11 per cent to $250
million its provision for capital
expenditure in the 2008/2009
budget.

This, Prime Minister Hubert
Ingraham said, is a signal of its
continued commitment to mod-
ernising and expanding the
nation’s infrastructure.

Mr Ingraham outlined allo-
cations and highlighted infra-
structural works planned for the
fiscal period during his presen-
tation of the government’s bud-
get communication to the
House of Assembly on Wednes-
day.

‘Allocations °

Sums allocated to ministries
and departments under the cap-
ital budget include:

e Department of Public
Works: $ 87 million

¢ Ministry of Education: $31
million

e Royal Bahamas Police

' Force: nearly $5 million

e Royal Bahamas Defence
Force: $3 million

¢ Department of Environ-
mental Health Services: $6 mil-
lion. |

“I am pleased to advise that
progress on the redevelopment

of the Lynden Pindling Inter-
national Airport is on course,”
Mr Ingraham said. “The $400
million dollar project will pro-
vide for the construction of a
new US Departure Terminal, a
new International Departures
Terminal and a new Domestic
Terminal.”

The first phase of the con-
struction costing some $86 mil-
lion will commence during this
budget period with the start up
of construction of the US
Departure Terminal.

The prime minister advised
that some 25 per cent of the
design work for the new termi-
nal will be undertaken by
Bahamian architects and engi-
neers.

Construction plans

“T also advise of plans under-
way to cause to be constructed a
60,000 square foot plus govern-
ment office complex in New
Providence,” Mr Ingraham told
parliamentarians. “The complex
will properly and appropriately
accommodate a number of Ber

ernment agencies.”

A similarly sized office com-
plex will be constructed in
Freeport, Grand Bahama where
land has already been identi-



“I do want to point
out that in the
2008/2009 budget
we are providing a
higher level of
transparency... than
has ever.been done
before.”



Hubert Ingraham

fied to accommodate customs,
immigration, labour officials
and the passport offices.

A third government office
complex is to be constructed in
Central Abaco to provide suit-
able office accommodation for
government administrative
agencies on the island.

“Work will resume on the
magistrates’ court complex on
Nassau Street,” the prime min-
ister said. “We will also under-
take and complete another
interrupted refurbishment pro-
ject at the former City Market
Complex on Market Street.
That complex is to accommo-
date the offices of the registrar

general and business licence |

First tropical storm
hits Central America

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From $229,000 with only $5,000 reservation deposit required
READY FOR OCCUPANCY JULY, 2008
__ PH. 325-1325 No Agents Please



A good business
plan is based on a
sound strategy.

unit and valuation unit. This is
known as ‘priming the pump’.”

The government, he added,
will initiate work for the con-
struction of a new judicial com-
plex to accommodate the
Supreme Court and the Court
of Appeal.

The 2008/2009 budget also
anticipates the commencement
of major works in Nassau Har-
bour including dredging to per-
mit the harbour to accommo-
date larger cruise ships coming
on stream this and next year.
Works are scheduled to com-
mence before the end of the cal-
endar year.

“The dredge material will be
used to create a boardwalk
extending from Prince George
Wharf eastward to Armstrong
Street creating opportunities for
the development of a prome-
nade bounded by restaurants,
specialty stores and entertain-
ment establishments,” Mr
Ingraham noted.

“It is also expected that the
dredging of the harbour will
provide sufficient material to
facilitate the expansion of
Arawak Cay westward, or alter-
natively the creation of a sec-
ond artificial island connected
to the mainland by a bridge or
causeway, to accommodate the





relocated commercial port,
which will be in the Arawak
Cay area.”

In a related development, an
inland depot will be developed
to receive storage cargo off-
loaded at Arawak Cay and
moved inland overnight, there-
by avoiding congestion now
associated with cargo move-
ment during peak traffic hours,
the house was told.

Other projects

“I do want to point out that in
the 2008/2009 budget we are
providing a higher level of
transparency with respect to
subvention to government agen-
cies than has ever been done
before,” Mr Ingraham said.

“In this budget, we allocate
$28 million to Bahamasair. We
fully expect any shortfall in
Bahamasair’s financial needs to
be met by its business opera-
tions. We don’t expect them to
come back.”

The budget provides $19 mil-
lion to the Water and Sewer-
age Corporation, $3 million for
the installation of potable water
for Green Turtle Cay, Abaco
and $11.7 million for the Broad-
casting Corporation of the
Bahamas.

- THIS NOAA satellite image taken Thursday, May 29, 2008 at 01:45 PM EDT shows a swirl of clouds off

the coast of Central America in the Eastern Pacific Ocean associated with Tropical Storm Alma. The
storm will make landfall along the north coast of Nicaragua as a possible weak hurricane Thursday

evening. This storm will cause devastating flooding and strong winds.

@ MANAGUA, Nicaragua

TROPICAL Storm Alma
slammed into Nicaragua’s
northwest corner Thursday,

' near the city of Leon, becom-

ing the first such storm of the
eastern Pacific season, accord-
ing to the. Associated Press.

Heavy wind and rains
knocked out power, forced
evacuations, and flooded low-
lying areas all along Central
America’s Pacific coastline.

Alma’s maximum ‘sustained
winds were near 65 mph (100
kph) but the storm was expect-
ed to weaken as it heads inland
over Honduras. Thursday
afternoon, it was moving at 9
mph (15 kph.)

Nicaragua’s Radio Ya
reported that a 30-year-old
man was electrocuted in Tras-
bayo, 40 miles (60 kilometers)
southeast of Managua, after a
power line snapped under high
winds.

“It’s raining like I’ve never

seen,” teacher Socorro Alvarez
said in Leon. “We hope God
has mercy on us.”

The fast-growing storm took
forecasters and many in Cen-
tral America by surprise. Resi-

' dents scrambled to prepare for

the storm before it hit.
Some 1,200 emergency offi-
cials were evacuating hundreds

: of people from flood-prone

areas. Heavy rains and flood-
ing knocked out power to some
sections of the country.

People crowded Managua
supermarkets to buy food,
water, candles and batteries,
and schools canceled classes
and were on standby to become
temporary shelters.

Many flights were also
grounded, and at least one
small plane carrying five people
had to make an emergency
landing in the Caribbean
coastal city of Bluefields
because of bad weather condi-
tions.

The storm wrapped the Cos- -

ta Rican capital of San Tos ose ina
dense fog, slowing traffic to a
crawl and causing dozens of
accidents. Heavy rains also
forced the cancellation of a soc-
cer final.

Along the coast, some 200
families were evacuated to
more than 160 storm shelters
set up after Alma dumped rain
over the country for 24 hours.
Landslides blocked a few high-
ways.

“Last year, a little water
came in the house, but now it is
completely flooded,” Clara
Bermudez said as she was taken
by boat to a shelter in Parrita.

In the beach town of Garza
de Guanacaste, residents began
cleaning up after the worst of
the storm had passed.

“The winds were terrible,”
Maria Baltodano said.

Forecasters warn it could
dump as much as 20 inches (50
centimeters) of rain in places.

The eastern Pacific hurricane
season began May 15.

Weather Underground/AP Photo

‘Three shark
attacks have
Mexico resort
area in panic
@ ZIHUATANEJO, Mexico

NO ONE could even
remember a shark attack
along this resort-studded
stretch of Mexican coast pop-
ular with surfers and Holly-
wood’s elite. Many of the
large predators had been
pulled from the ocean by fish-
ermen, according to the Asso-
ciated Press.

So when sharks attacked
three surfers in less than a
month, two fatally, it was
unthinkable.

The latest attack came Sat-
urday, when a shark chomped
down on the arm of surfing
enthusiast Bruce Grimes, an
American expat who runs a
surf shop in Zihuatanejo.

Grimes and a handful of
other surfers were out on
dark, choppy waters when he
felt something lift his board.
He managed about five
strokes before teeth sank into
his arm. “Shark!” he
screamed, wresting his arm
back. Grimes made it to
shore, escaping with a few
gashes.

“There wasn’t any time to
panic,” he said. “I thought:
*Don’t want to die. Don’t
want to lose my arm.”

Only later did the 49-year-
old Florida native learn a
local surfer had been killed
by a shark at a neighboring
beach the previous day. Less
than a month before that, a
visitor from San Francisco
was killed while surfing
another nearby beach.

Before that, shark attacks
‘were unheard of here. Uni-
versity of Florida expert

i George Burgess was in the

area Wednesday interviewing

witnesses, going over autopsy |

reports and checking out
beaches to find out why the
sharks had suddenly become
SO aggressive.

Burgess’ International
Shark Attack File records an
average of only four fatal
shark attacks around the
world each year. This year,
there has been at least one
other recorded shark fatali-
ty outside Mexico — a 66-
year-old triathlete killed at
Solana Beach, Calif.

The attacks around Zihu-
atanejo have puzzled experts
and, alarmingly for local busi-
nesses, the mayhem is keep-
ing tourists away.

After the first fatality, pan-
icked officials strung lines of
baited hooks offshore and
slaughtered dozens of sharks,
drawing international criti-
cism. Authorities planned to
meet Thursday to seek
Burgess’ advice.

Marine biologist Chris
Lowe, who runs the shark lab
at California State University,
Long Beach, said there is lit-
tle officials can do beyond
trying to keep people out of
the water and studying why
sharks have suddenly turned
so aggressive. Hunts don’t
usually help, he said.

Lowe also said officials
should keep the attacks in
perspective.

“People have a much bet-
ter chance of dying of food
poisoning going to Mexico
than being bitten by a shark,”
he said. “It’s far more dan-
gerous driving to the beach
than it is getting in the
water.”

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THE TRIBUNE

LOCAL NEWS

FRIDAY, MAY 30, 2008, PAGE 3



© In brief

Major cultural
festival this
weekend at
Eight Mile Rock

@ BY DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - A major cul-
tural festival will be held at
Eight Mile Rock this week-
end to bring people of vari-

ous cultures together on

Grand Bahama.

Ministry of Tourism officials
announced that the first annu-
al International Cultural Fes-
tival will take place on May
31 at the St Stephen’s Parish
Park.

The event is being organ-
ised by the EMR community
tourism focus group. It will
begin at 3pm and will feature
cuisine from several cultures
and musical performances, as
well as crafts and jewellery.

According to a spokesper-
son, attendees will be able to
learn about Haitian, Jamaican,
Filipino, and Turks and Caicos
culture, among others.

There will be live presenta-
tions and performances by
gospel and marching bands,
and local choirs on the island.

The highlight of the evening
will be live entertainment pro-
vided by Wilfred Solomon and
the Magnetics, the Conch
Juice Band, Swingers
Junkanoo Group and a dance
medley by the New Wave
Dancers.

Booze Cruise
captain dies of
burn injuries
after explosion

BOOZE Cruise captain
Carroll Burrows died of burn
injuries after an explosion on
the boat at the Nassau Yacht
Haven.

The 52-year-old father of 10
was on the ship when there
was an explosion in the engine
and fire on the boat.

He was treated for burns in
a Miami hospital but died this
week,

Cpt Burrows’ wife June
Burrows said it has been a ter-
rible shock to her and the fam-
ily.

His funeral will be held
tomorrow at Temple Baptist
Church in Farrington Road at
11am.

Friends can pay their last
respects at Demeritte’s Funer-
al Home in Market Street
from 10am to 6pm today and
tomorrow at the church from
10am until service time.

The burial will be at Lake-
view Memorial Gardens in
JFK Drive, Nassau.

your

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.



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We are acting on wholesalers’ food
price concerns, says government

Slow pace of reviewing cost increases request blamed for shortages

@ BY ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

THE government says it is
addressing the concerns of
wholesalers who complain
that the slow pace at which
the Price Control Commission
is reviewing their requests for
price increases is leading to
shortages of basic food SUS
plies on shelves.

Alphaeus Forbes, deputy
permanent secretary of
Affairs, said yesterday that the
wholesalers’ “exasperation”
has been brought to the atten-
tion of the government, “and
directives were given-to come
to some sort of resolution.”

This comes after a sales
manager at a leading grocery
wholesaler, who wished to
remain anonymous, said that
the seriousness of the situa-
tion and its potential to impact
the supply. of food was such
that government must deal
with it “now and not later.”

Another manager, Jeff
Albury of Island Wholesale,
said that with the recent
volatility in the global econo-

my, combined with “ineffi- J

ciency” at the Price Control
Commission, Bahamian con-
sumers can expect to see one
of two unpleasant alternatives:
having to pay exorbitant
prices for food stuffs, “or find-
ing nothing on the supermar-
ket shelves at all.”

“The powers that be need
to be very cognisant of this,
and wake up with a plan,” he
added.

His statement reflects the
concerns of the Bahamian
wholesale industry in gener-
al, representatives of which
have claimed that the govern-
ment’s Price Control Com-
mission is not dealing rapidly
enough with their applications
for price changes on price-
controlled items.

Managers say the landed
cost of these items has risen
so much that soon, they will

no longer be able to make a ~

profit on their sale due to the

fixed profit margins mandated -

by the government.

The situation has put a
peculiarly Bahamian slant on
the global food crisis. Where-
as in recent months, interna-
tional news reports have sug-
gested that there could be
worldwide shortages in the
availability of products like
rice, wholesalers in this coun-
try say that they have experi-
enced no shortage of suppliers
willing to sell to them —
instead, it is the delayed
response: of the PCC once
their products are landed
which is causing the problem.

Price-controlled items
include foods like rice, grits,
bread and corned beef.

Industry insiders say that at

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“More staff has to be a.
decision of the Cabinet to take.

While that may lend some sort

of easement to it the process is
still there. Certainly more staff
would help. but that’s not an
admission that we don’t have

enough staff.”



a minimum, the PCC takes
two weeks to reply to their
applications, and at maximum,
seven weeks.

While wholesalers wait for

their newer, more costly stock .

to be approved for sale at a
higher price, their pre-
approved stock sells out — pre-
cipitating a supply shortage.
“T would be surprised if
(staff at the PCC) are not
totally overwhelmed right now
if they were being candid,”
said the anonymous industry

* source.

Mr Forbes said he feels that
wholesalers are often “unfair”

_in their claims about the

length of the process, but
added that as his ministry is

Alphaeus Forbes

ab lihedor stakeholder icons

cerns it will do “whatever’s
required to bring an easement
of situation.”

He added however that
stakeholders should be mind-
ful that the legal process by
which prices are reviewed is
designed to protect con-
sumers.

‘ Mr Forbes added: “More

staff has to be a decision of
the Cabinet to take.

“While that may lend some
sort of easement. to it the

_ process is still there.

“Certainly more staff would
help.

“But that’s not an admis-
sion that we don’t have
enough staff.”

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PAGE 4, FRIDAY, MAY 30, 2008 THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited ~—/ Tapping the
potential of
Arawak Cay

Beach, The Grove (Croton



LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S:, B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas EDITOR, The Tribune.
wat Avenue) down West Bay throu
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama ARAWAK Cay container port i 5 | | | Bales Paap Skyline rue

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986.
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348

Terrorism and the Olympics

KASHGAR, China — The reports of terror
plots emanating this year from this Muslim
region in the far west of China might seem fan-
ciful: A foiled plot to blow up a plane; a cache of
TNT. to bomb the Summer Olympics; even a
“violent terrorist gang” that planned to kidnap
Olympic athletes.

But these aren’t whispers on the Internet.
They’re reports coming from the Chinese gov-
ernment. So I flew out here to Kashgar — an
oasis on the ancient Silk Road, where the
minarets and camels and carpets provide a Mid-
dle Eastern ambience — to look for terrorists.

Instead, China’s State Security Ministry found
me. I had been in Kashgar just a few hours
when my videographer, who is ethnically Chi-
nese, called to say that two plainclothes offi-
cials were interrogating him. They asked him

not to tell me since American journalists tend to -

be touchy about such things.

The interrogation was a sign of the authori-
ties’ anxiety about stability in China’s Muslim
west. Separatists here in the Xinjiang region
aim to create the nation of “East Turkestan”.
and have periodically blown up police stations
— even bombed three public buses in 1997.

The Chinese government has claimed that ~

162 people were killed in such terror attacks
by Uighur separatists between 1990 and 2001.
Meanwhile, China has sentenced more than
_ 200 people to death since 1997 for r engaging in.
such separatist crimes.

Last year; Chinese officials said that-18 ‘peo='
ore had been killed when police taided’a Uighur’

terrorist training camp with ties to al-Qaida.
The raid netted 1,500 grenades.

Then in March, China announced that it had
foiled a plot “to create an air crash,” in a pas-
senger plane shortly after it took off from the
Xinjiang capital of Urumai. In April, the author-

ities said that they had confiscated explosives ~

from Uighurs who were planning suicide bomb
attacks.

“This violent terrorist gang secretly plotted to
kidnap journalists, visitors and athletes during
the Beijing-Olympics,” The Associated Press
quoted Wu Heping, a spokesman for the Public
Security Ministry, as saying.

Then just*this month, a crowded bus blew
up in Shanghai, killing three people and injuring
many more. No one publicly claimed responsi-
bility, but it recalled the 1997 Uighur bus bomb-
ings. Ronald Noble, the secretary-general of
Interpol, cited these incidents — and also
reports of a separatist plot to disrupt the
Olympic Games with poison gas — and told a
news conference that a terror attack at the
Olympics was “a real possibility.”



It’s not entirely clear what to make of all this,
for as I strolled-around Kashgar I found the
situation remarkably calm. I wasn’t expecting to

uncover a terrorist cell, but I had anticipated :

more hostility toward the government. Ordi-
nary Uighurs I spoke with offered measured
complaints, but they weren’t seething as
Tibetans are.

“Nobody likes it when the Chinese all move
in here,” said a Uighur shop-keeper. “Of course,
we're all upset. But what can we do?”

One young woman offered a different take.

“When I was a little kid, my Mom would tell me,
‘Don’t wander, or the Han Chinese will steal
you away. They eat human flesh.”’ She laughed
and added: “But now we see more Han, and
we’re not afraid of them. Relations are OK.”

Some young Uighurs criticised the Beijing
Olympics, saying the games will drain local bud-
gets. But I could have found stronger anti-gov-
ernment sedition on any street corner.of Man-
hattan. '

The only excitement I found in Kashgar was
playing pied piper to State Security. officers
who tailed me whenever I left the hotel.

Normally, the Chinese government plays .

down security risks, but human rights groups
argue persuasively that China is using concerns
about Uighurs as an excuse to crack down on
-peaceful Uighur dissidents. After 9/11, China
declared its own war on terror in Xinjiang, but

w"fluman. ‘Rights Watch and Amnesty Interna-

tional’ have documented that this often has tar-

“gétéed Uighurs who are completely nonviolent.

Unfortunately, the Bush administration has
largely backed this Chinese version of the war
on terror. Indeed, a Department of Justice
report this month suggests that American troops
softened up Uighur prisoners in Guantanamo
Bay on behalf of visiting Chinese interrogators.
The American troops starved the Uighurs and

prevented them from sleeping, just before invit- °

ing in the Chinese interrogators.

That was disgraceful; we shouldn’t do China’s
dirty work. It was one more example of the
Bush administration allowing the war on terror
to corrode our moral clarity.

We should encourage China to tolerate
peaceful protesters even as it prosecutes ter-
rorists. But instead of clarifying that distinc-
tion, in recent years we have helped China blur
it. The risk of terrorism during the Olympics is
real, but that shouldn’t force us to do violence to
our principles.

(This article was written by Nicholas D. Kristof

c.2008 New York Times News Service).



THOUGHT FOR THE WEEK

“YOU CAN’T BREAK GOD’S
PROMISES BY .
LEANING ON THEM”

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‘Phone: 323-6452 ¢ 393-5798
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in The Bahamas.

— just moving an eye-sore up the
street.

I would tend to accept and sup-
port if Nassau Harbour was a
mixed-use port with a higher per-
centage on freight than leisure
that what you decide to put on
Kelly Island or as it is now known
Arawak Cay does not really make
a difference — as they would say;
ugly goes with ugly very well.

Nassau Harbour receives over
2.3 million cruise ship visitors a
year so I suggest that the Gov-
ernment needs to look primarily
at them when they deliberate
what will dominate for the future
the entrance to Nassau Harbour.
We are going to spend probably
over $60 million to deepen the
harbour to receive bigger and
more visitors so we put ugly at
the entrance!

It will be so ironic as this FNM
Government openly embraces
and funds to the fullest The
Bahamas National Trust and all
things environmentally correct
and then decides to place ugli-
ness at the first landfall of New
Providence, Arawak Cay. We
have the beauty on the Paradise
Island side of the entrance of the
majestic lighthouse — so pic-
turesque which will now overlook
and be damned to the future of
ugly containers, noise and basic
ugliness on a piece of land man-
made to build hotels and a con-

__ vention centre back in the 1960’s.

Why.are the 15 Cabinet Minis-
ters so naive and lacking foresight

-to the potential value of Arawak

Cay? We hear complaint after
complaint from the cruise lines
and the lack of participation by
Bahamians in the tourism product
and that Nassau has nothing to
do — let me give you a concept
that Bahamians could develop on
Arawak Cay which would change
that. Successive governments
have refused to grant licences to

explore shipwrecks with the price

of gold today imagine with 50
peer cent of the bounty coming to
the Treasury what a tourist attrac-
tion based around pirating —
shipwrecks and the traditional
craft of gold would bring? Unique
except there is something like it in
Key West where the finders of

the el Torca wreck and because

there is a creativeness in the City
Council of Key West they have
developed a considerable attrac-

tion out of this which droves of

tourists visit.

This themed development

could attract further expansion
of themed Fish Fry and add rides
and historic experiences aid
develop the traditional craft of a
Goldsmith and clusters of stores
offering locally produced gold
jewellery. Of course what this

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letters@tribunemedia.net



government wants is ugly con-
tainers to be the first sight of his-
toric Nassau as the cruise liners
sail in and leave with the back-
ground of what you can see of Ft
Charlotte as the billboards
around the cricket oval grow big-
ger and bigger!

I must congratulate the total

naivety of cabinet, but then this
whole process has been cloaked
in secrecy and many ask will the
proposal ever go to the public for

at least their views? We were

promised trust and transparency!
Can’t see either.

After the meeting last week of
Minister Larry Cartwright and
the Fish Fry folk it is obvious
what can only be described as the
misuse of valuable public land is a
done deal and the “foreign” ship-
ping companies with high level
local connections coming up the
rear seems to rule.

It is said with the new port of
Arawak Cay in place containers
will only be permitted to be
moved between 2am and 6am —
has for a second anyone thought
what will be the horrific noise and
environmental degradation of the
silence of the night through Chip-

pingham, Oakes Field, Saunders

down to Gladstone Road? Who
cares that thousands of Bahami-
ans will be trying to sleep through
these hours?

The heavy 12-wheel bulk sand
and rock trucks rumbling through
the silence of the night down
West Bay Street, Cable Beach
out to Bahamas Hot Mix (Symon-
ette’s business) will further annoy
thousands of residents in Killar-
ney/Old Delaporte and Clifton
constituencies — those proper-
ties will loose value as noise is

- something no property owner ,

wishes. One looks for peace and
tranquility but who cares, -cer-

‘tainly the MPs for those areas

Minister Minnis and Kendal
Wright don’t seem to.

By the way in the circles of
those interested in investigating
what is left of our shipwrecks that
there has a result of government’s
lack of understanding and horrif-
ic amount of illegal exploration
and plundering of many of the
known wrecks. As usual govern-
ment’s asleep at the helm missing
everything and disinterested in
what is an obvious and could be
such an economic asset to our
waning tourism and potential
craft, goldsmith industries.

C CUNNINGHAM
Nassau,
May 24, 2008.

Change labour law, please

EDITOR, The Tribune.

LABOUR Day and the majority of employees will not be repre-
sented or are their conditions of employment safeguarded in the same

“manner as those who are represented by a union — fundamentally dis-

criminatory and in violation of the Constitution.

Yes, any organisation who credit themselves to represent say 15-
16,000 is recognised by agy Government as that grouping has influence
and political clout.

The largest unrepresented Labour group in The Bahamas which suc-
cessive governments of The Bahamas refuse to recognise in any man-
ner are those who are not unionised and 365 days in a year give excel-
lent productive labour. However, if anyone of this majority gets into a
labour-employment dispute God save them as the Ministry of Labour
— the Director of Labour — may not intervene however wrong that
dispute may be.

I plead with Senator the Hon Dion Foulkes, Minister of Labour, that
he will announce this upcoming Labour Day that immediately that the
powers of the Minister and the Director of Labour will be extended to
include all gainfully employed persons whether or not they are repre-
sented by a union.

I have not checked the so often touted ILO Conventions by the union
leadership but I am sure that this inequality and discrimination of
unionised labour has to be in violation of some ILO Convention or the
ILO is a total farce.

Minister Foulkes — Rt Hon Hubert Ingraham — change the Labour
Law immediately to include any person who is employed may call on
the negotiating and intervention of the Minister and/or The Director
of Labour in a dispute — it is only fair and supportive of the supreme
Law, The Constitution.

GELLIOTT

Nassau,
May 22, 2008.

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THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 5



E LOCAL NEWS

- Immigration bribery reports under investigation



Tommy Turnquest

rRew is t

I

‘GOVERNMENT is spending
millions of dollars to upgrade law
enforcement agencies through-
out the country to combat crime,
according to a senior official. -
Missouri Sherman-Peter, per-
manent secretary at the Ministry
of National Security and Immi-
- gration, said however that the
Bahamian public must commit
to “getting off the sidelines” and
~ joining the fight against crime if
! the government’s efforts are to
‘ have the desired results.
Addressing a panel discussion
on crime and criminality hosted

Oo bow ean ee

Vt

m By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE are investigating
media reports that a
Guyanese man paid immigra-
tion officials more than
$1,000 for unauthorised entry
into the country, Minister of
National Security Tommy
Turnquest revealed yester-
day.

In a news report which
aired Wednesday night, a
Guyanese national claimed
he came into the country
from Guyana via Barbados
earlier this year without prop-
er documentation and paid
officials $1,500 to allow him
entry.

The man, whose identity
was concealed, also report-

by the Bahamas National Baptist
Missionary and Educational
Convention, Mrs Sherman-Peter
said communities must fully
realise “that the game is on the
field, and not on the sidelines.”

“We cannot lay blame for our
crime and immigration prob-
lems at the feet of the police,
the Royal Bahamas Defence
Force, the Department of Immi-
gration, the politicians, or at the
feet of church leaders or oth-
ers,” Mrs Sherman-Peter said.
“These problems are society-
wide problems for which we

FAMGUARD

The Board of Directors of FamGuard Corporation

Limited wishes to advise that the unaudited

interim consolidated financial results for

the three months ended March 31, 2008 |

have been approved for issue.

The interim results are available on the website

at www.famguardbahamas.com and will be mailed

to shareholders along with the annual report
for the year ended December 31, 2007
during the week of June 2, 2008.



Fashion Advice, Help
and Inspiration





Sina Rerp all -

~ Tina Perpall’s eens Shee

Guyanese man claims he
paid officials to enter country

edly claimed he is using the
Bahamas as a transit point to
the United States and had
paid almost $9,000 to human.
smugglers who were planning
to sneak him into the US ona
small boat.

Fearing his life would be at
stake aboard a tiny vessel
during high seas, the man said
he backed out of the deal -
which left him stuck in the
Bahamas, out of thousands of
dollars and no way to return
home.

Mr Turnquest said the
report was brought to his
attention yesterday morning

must all take responsibility. We
must all get off the sidelines and
get onto the field.”

Mrs Sherman-Peter said “get-
ting onto the field” means stop-
ping the practice of encouraging
and protecting family members,
members of the community and
friends who break the law.

She said Bahamians must
stop accepting money and gifts
from such persons, and not
allow criminal acts to go unre-
ported to the relevant authori-
ties.

Mrs Sherman-Peter also
pointed out Bahamians com-
plain about illegal immigration,
but are prepared to employ

‘ persons without the requisite

permits.
_ She said it is imperative that
Bahamians honestly swear affi-
davits or other documents that
would give persons status in our
country.

“Stop swearing an. affidavit
that says a person was born in |
the: Bahamas when you don’t !
have a clue as to where they
were born,'or'you know ‘that !
they were not born here,” she |
said. “It is also imperative that
Bahamians and legal residents
of the Bahamas do not abuse
the privilege of citizenship or
residency to move illegal immi-
grants into and through our
country. Marriages of conve-
nience, introduce people whom
we do not know into our com-
munities — it is imperative: this
does not happen.”

ie
UU
FOR PEST PROBLEMS
PHONE: 322-2157

INSIGHT

For the stories behind
the news, read Insight
on Mondays



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and police are currently look-
ing for the Guyanese man for
questioning.

"All I can say is that report
was brought to my attention
this morning and the police
are now trying to find the
gentleman as we speak to find
out what he knows".

When asked if the Depart-
ment of Immigration knew the

identity of the officials accused .

of accepting bribes, Mr Turn-
quest said that information
cannot be verified until police
question the illegal immigrant.

Last month, the bodies of 14
Haitian nationals were recov-

Bahamians encouraged to continue
to help in the fight against crime

Mrs Sherman-Peter acknowl-
edged that there is a positive
side to what appears to be a
negative picture; in that there is
optimism among citizens and
residents that the current situ-
ation regarding crime and ille-
gal immigration “is not one of
permanence.’

She said that civil society,
including the churches, neigh-
bourhood watches, crisis cen-
tres and others are proactively
seeking to‘reshape the country
and to bring back morals, val-

‘ues, ethics and integrity.

The permanent secretary
pointed out that this has
augured well for critical law
enforcement initiatives of the
Ministry of National Security
and in, particular, the Royal
Bahamas Police Force.

“The Neighbourhood Com-
munity Policing Initiative and
the Liveable Neighbourhoods
Programme are particularly
exemplary 4 in that regard,” she
said. ton

aad fraceleiriiesd

ered by the RBDF in the
shark infested waters between
New Providence and Bimini,
just off Lyford Cay.

Earlier this week, RBDF
officers found the bodies of
three Haitian nationals float-
ing near West End, Grand
Bahama.

Police suspect the passen-
gers were part of a human
smuggling operation and
drowned during their ill-fated
trip.

Yesterday, Mr Turnquest

said getting to the root of
human trafficking is a huge
concern for his ministry.
"Human smuggling is
something that we have to
stop and is a concern for us.
We know that we have large
number of illegal immigrants

‘that make their way to and

through the Bahamas and we
have to deal with it as best
we can and when we have the
possibility to find out more
about it we try and root it
out," he said.

A leading local wholesaler seeks a qualified person for
the position of:

Brand Manager

The Brand Manager will be responsible for planning and
developing the marketing efforts for various brands in
support of the company's overall business strategy.
He/she will be in charge of implementing brand plans
and analyzing their impact for a specific product portfolio.

Skills & Educational Requirements:
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Effective communication and presentation abilities
' Proficiency in time management, planning,

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Self-motivated team player
Previous sales experience in the wholesale /

retail business

Candidates should possess a reliable motor vehicle, be
willing to travel to the family islands, to the U.S., and

other foreign countries.

Please send application letter and résumé
by June 5, 2008 to:

Brand Manager
P.O.Box N-7504
Nassau, Bahamas
or Fax to: (242) 393-0440

We thank all applicants for their interest; however,
only short-listed candidates will be contacted.



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PAGE 6, FRIDAY, MAY 30, 2008

THE TRIBUNE



LOCAL NEWS






a Y Care’s

em O mea

Ph: 324-6413
SUMMER SIZZLING

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Proter Silex fron $20.00 /2 for $36.00

New Summer Arrivals

We sell Indigo, GSM & Helio Cards

Sponsors sought for boo
featuring young writers

A BAHAMIAN writers group is seeking
sponsors for a new book of stories and
poems by young talent from Nassau and
the Family Islands.

* About 60 students aged from eight to 15
will be featured in the book, to be called A
Collage of Dreams.

The initiative is part of a drive by the
Commonwealth Writers of The Bahamas to

promote writing and reading among young
Bahamians.

Writer Vera Chase said the book has
been “on the drawing board” for two years
for lack of funds.

She said sponsors are being sought so
that the young writers can experience the
joy of seeing their work in print.

The book will include work of students

from Nassau, Cat Island, Long Island and
Abaco. Last weekend, the group held a
reception in Nassau to honour competition
winners in two age categories.

Several Nassau and Family Island schools
were represented.

Mrs Chase said: “We had a tremendous
response. About 300 people attended and
we were delighted.”

Share
your
news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. If so, call us on 322-
1986 and share your story.









Wholesale and Retail



KEMP’S FUNERAL HOME LIMITED

Established 1950
P.O. Box N-1222, 22 Palmdale Avenue, Paimdale
Nassau, N.P., The Bahamas

A MEMORIAL SERVICE FOR

the late
Michael Frank
Brownrigg 54,














of Paradise Island, Nassau,
The Bahamas, will be held at
St. Andrew's Presbyterian

Church Princess Street, Nassau on Wednesday,
4th June, 2008 at 5:30p.m.











Reverend Scott Kirkland will officiate. Mr. Brownrigg
was predeceased by his parents, Edwin and Mona
Brownrigg and is survived by his brother, Robin
Brownrigg, sister-in-law, Andrea Brownrigg, nieces,
Brittany and Hienan and other relatives and friends.







Instead of flowers the family request that donations
be sent to St. Andrew's School Foundation, P.O. ’
Box EE-17340, Nassau for the "Building For The
Future Campaign" in memory of Michael ES
Brownrigg.







Arangements by Kemp's Funeral Home Limited.







R M Bailey Class of ’88 get their 20th —
j reunion activities and TASS on the way

© seitle an argument, think abo

MEMBERS of the 1988 graduating class of R M Bailey Senior High School.

THE 1988 graduating class of R M Bailey
High School has planned a series of “excit-
ing” fundraisers and activities for it's 20th
reunion. (

The reunion committee is led by chair-
persons Errol Bodie and Ronald Dun-

- combe. .

Sub-committees have been formed and

first event, a meet-and-greet on Saturday
May 31 beginning at noon, where, the com-
mittee says, “classmates can rekindle the
friendship and network”.

Directions can be found on the class web-
site www.rmbailey88.com.

The class first fundraiser will be a steak-

out and'raffle to be held on July’5.



cruise in the summer and a grand banquet
in the fall. Planning meetings are held at the
school every Thursday at 7pm. Other offi-
cers include: treasurer Fifika Bain, assis-
tant Lisa Adderley, secretary Alan Adder-
ley; public relations officers Godfrey Arthur
and Marvin Duncombe; projects manager
Carlon Bethell; webmaster Charlton Wat-
son. -











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e Superior knowledge of financial products including swaps,
futures and asset/liability management

e Strong interpersonal skills

SCOTIABANK CARIBBEAN TREASURY LIMITED is
seeking the services of a‘Senior Trader, Front Office who will
be responsible for the day to day management of the Treasury
operation that functions regionally in the Caribbean.

This position manages the day to day operations of a funding book
and is accountable for the asset/liability, liquidity and gap
management of the book. The position will contribute to the
development of investment opportunities and the formulation of
market strategies.

The responsibility of the Senior Trader is to ensure all treasury
activity is conducted in accordance with all Risk Management
policies, ensure accurate management information reports, as well
as develop strong relationships with various Scotiabank entities.

‘We are looking for a select individual to join our team. This
individual will be located in Nassau and will report to the Managing
Director, Scotiabank Caribbean Treasury Limited, Nassau,
Bahamas.

Interested persons should submit applications in writing, marked
private & confidential to: Managing Director, Scotiabank
Caribbean Treasury Limited, P.O. Box N-7518, Nassau,
Bahamas or by e-mail to: brodie.townley @scotiabank.com

Qualified candidates only need apply by Friday June 13, 2008.


THE TRIBUNE

FRIDAY, MAY 30, 20U8, PAGE /



THE government is forging
ahead with its plan to join the
WTO and the EPA in the face of
continuing opposition.

While Prime Minister Hubert
Ingraham said this week that final
approval on membership in the
World Trade Organisation
(WTO) can only take place
through consensus of the Bahami-
an people — he maintained that
such a consensus does not have to
be arrived at by a referendum.

Those against the Bahamas
becoming a member of both the
WTO and the Economic Part-
nership Agreement (EPA) with
Europe say that Bahamians will
be forced to compete in a losing
battle with foreign workers for
their own local markets.
























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The government has stated that
in terms of the EPA, many indus-
tries will be protected from open
competition, however detractors
say this will only last for a matter
of time. Appearing on a radio talk
show yesterday on More94 FM,
attorney and PLP member Fayne
Thompson said the final aim of all
trade agreements of this kind is to
open societies completely to inter-
national competition.

Prime Minister Ingraham
touched on the WTO and rela-
tions with European Union dur-
ing the 2008/2009 Budget Com-
munication in the House of
Assembly on Wednesday.

“The Minister of State for
Finance, the Trade Commission,
and the Ministry of Finance are

C
Quad Mot

SUNNY'S.

LOCAL NEWS

ihe Se ie ee ee ee iS) ae
Govt to continue WTO and EPA talks amid controversy |

providing extensive briefing on
the issues involved,” Mr Ingra-
ham said. “We want the Bahami-
an public to be fully informed on
the context of the crucial deci-
sion which will have to be made
shortly. “It is my government’s
considered opinion that entering
into the WTO is a major step
which we should be willing to
consider.”

The Bahamas received Observ-
er Status in the WTO in 2000 and
applied for membership in the
same in 2001. Regarding the
EPA, Mr Ingraham said Minis-

ter of State for Finance Zhivargo .

Laing, the Trade Commission and
staff of the Ministry of Finance
have “tried diligently” to provide

‘the Bahamian public with com-




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“Tt is an issue on which we, as a
democracy, shall take an
informed decision and not one
based on poor and misleading
information,” he added. “My gov-
ernment and its agencies will con-
tinue to work very hard to fully
inform the Bahamian public and
their parliamentary representa-
tives before any final decisions
are taken.”

Minister Laing, who has
responsibility for trade matters,
addressed the issue of the EPA
signing during an interview with
Bahamas Information Services.

“There has been no signing at
all,” he said. “So the agreement is
not complete yet in terms of a
signing. And even after the agree-
ment is signed by all the coun-
tries there has to be a ratification
process by each country; mean-
ing that they have to go to parlia-
ment and pass an Economic Part-
nership Act,” he said.

Mr Laing explained that nego-
tiations are ongoing between the
European Union and CARIFO-
RUM (Caribbean Forum of
African, Caribbean and Pacific
states), noting that only the CAR-
IFORUM grouping concluded
their negotiations by the Decem-
ber 2007 deadline.

“But there is this one excep-
tion, The Bahamas and Haiti
were given six months beyond the
deadline to provide their service
offer,” Mr Laing said. “So we did
not agree to a services offer, we
did agree with the overall goods

offer that CARIFORUM has.”

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By the end of May, the entire
goods and services offer of the
Bahamas will be made available
to the public, Mr Laing said.

The United Nations has about
155 codes for various services, 133














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of which the Bahamas is dis-
cussing with the European Union,
he noted. In terms of services,
there are two descriptions —
“none” and “unbound”.

“None means I have it open
for non-Bahamian participation,
that you can invest in that area.
Unbound means closed to non-
Bahamian investment,” Mr Laing
said. He added, “Since straw ven-
dors are categorised as retailers,
that sector is “unbound”; closed.
There is no foreign investment
coming into this area. This is the
same for construction of any
building up to 250 rooms.

“For the most part, what we
have in the Bahamas is reserved
for Bahamians in our economic
partnership agreement offer.
Whether that is wholesale or
retail trade, whether that is real
estate services, or whether that is
inter-island transport services.

“In every way, we have sought
to be sensitive to the peculiar
needs of Bahamians and to pre-
serve, for the most part, the same
reservations that we had in this
country for years for Bahamians.

Legal services,’Mr Laing

-advised, is also classified as

unbound. His opponents claim it
is only a matter of time, however,
before the European Union
moves to abolish the protection of
any industry.

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PAGE 8, FRIDAY, MAY 30, 2008

THE TRIBUNE



Defence Force officers complete overseas courses

SUB Lieutenants Andrew
Bowe and Lynden Deon
Dames are the Royal Bahamas
Defence Force’s newest offi-
cers.

Both have returned home
after successfully completing the
Officer Candidate School in
New London, Connecticut.

The rigorous 17-week Coast

Guard course, sponsored by the
International Military Educa-
tion Training Programme
(IMET), was conducted at the
United States Coast Guard
Academy from January 10
through May 7.

The course is designed to
educate and train officer can-
didates, to ensure that they

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posses the moral, intellectual
and physical qualities for com-
missioning, and the leadership
potential to serve effectively as
officers.

The curriculum includes
courses in academics, leader-
ship and management, nautical
science, health and physical
readiness, customs and courte-
sies, military traditions and
Coast Guard history.

The academic aspect of the
course gives the officers an
overall view of the Coast
Guard.

It also exposes them to mar-
itime law enforcement, military
etiquette, the Unified Code of
Military Justice, effective writ-
ing, communication skills and
first aid.

Sub Lieutenant Bowe’s nau-
tical science course included a
one-week tour on board US
Coast Guard Cutter Juniper,
where he was required to apply
the knowledge of piloting,
maneuvering, ship handling,
celestial navigation, shipboard
communication, tides and cur-
rents, nautical nomenclature
and the compass system.

Sub lieutenant Bowe also

spend one week at Castle Hill, a

US Coast Guard small boat sta-
tion in New Port, Rhode Island,
where he participated in sever-
al small boat handling maneu-
vers.

Sub Lieutenant Dames’ tour

\~

of duty included one week at
Sector San Juan (Puerto Rico),
where he participated in vari-
ous marine law enforcement
inspections

Both officers attended a two-
day training session in fire fight-
ing and damage control at the
US Naval Base in New Port,
Rhode Island. :

Fisheries officials seize more
than 150 juvenile conch

@ BY DENISE MAYCOCK
Tribune Freeport

Reporter
dmaycock@tribunemedia.net:

FREEPORT — More than -

150 juvenile conch were seized
by fisheries officials who were
conducting marine patrols in
waters around Bimini.

Two male residents of Bimi-
ni were arrested in connection
with the seizure, which
occurred on Wednesday
morning about one mile south
of Bimini. a

Chief Superintendent of
Police Basil Rahming said the
inspectors were conducting

»

CREDIT SUISSE — 3 ,

Credit Suisse Nassau Branch Private Banking
is presently considering applications for an

Accountant |

Credit Suisse is one of the world’s premier private banks. It is setting new standards that
go beyond traditional banking services. Our dedicated and highly qualified staff provides
our clientele. with comprehensive solutions in individual investment counseling and
professional portfolio management. Our total commitment is always to our clients and we

focus without compromise on their financial well-being and their personal values.

The position is open to candidates with the following minimum

requirements:

1-2 years Accounting & Banking experience
Strong academic background (an associate’s or bachelor’s degree)

Proficient in Excel

Main tasks:

Management of Service Level Agreements (SLA) and inter-company/
divisional expense allocation process
Preparation and payment of:cheques
Booking of monthly accruals

Reconciliation of all general ledger accounts at the appropriate level of

frequency

. Respond to queries relating to clients’ and internal expenses
Filing of expense and daily computer reports on a timely basis
Assist with Local and International Reporting

Assist Cashier

Personal Qualities:

Excellent communication skills both written and oral

Ability to work under pressure and meet deadlines with minimum

supervision

Excellent organizational and interpersonal skills
A commitment to service excellence

Benefits provided include:
Competitive salary and benefits

APPLICATIONS MUST BE IN WRITING.

Persons not meeting the minimum requirements need not apply.

Applications should be submitted to:

P.O. Box N-4928
Nassau, Bahamas

Facsimile: 242-356-8148



Human Resources Department

DEADLINE FOR RECEIPT OF APPLICATIONS IS JUNE 6, 2008

patrols around 9.43am when

‘they observed a small fishing

boat.

The inspectors conducted a
search of the catch and dis-
covered a total of 207 live
conch on the vessel.

They counted 157 juvenile
conchs, he said.

According to Mr Rahming,
the capture of!juvenile conch
is against the Fisheries

Resource Jurisdiction and

‘Court on June 4 to answer

Conservation Act.

Two men - a 47-year-old
resident of Bailey Town, and a
37-year-old resident of Alice

‘Town — were take’ into cus-

tody for questioning by Alice
Town Police.

. ef ‘

ATTEN Te ct cae

They also represented the
Bahamas and the Royal
Bahamas Defence Force at the
Armed Service International
Ball in Washington, DC, and
visited the White House and the
Pentagon. ;

A 1983 graduate of the R M
Bailey Senior High School, Sub
Lieutenant Andrew Bowe



‘joined the Defence Force in ©

July 1984 as a marine recruit.
Sub Lieutenant Lynden
Dames joined the Defence
Force in January 1988 as a
marine recruit after graduating
from the Governors Harbour
High School, Eleuthera in 1987.

» Leading Seaman Jonatha

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incident.



ion

Dr John Hammerton
a Dedicated Conservationist

On , Monday May 19, long time Bahamas National Trust Wildlife
Committee Member, Dr. John Hammerton, passed away at the
age of 73. Dr. Hammerton was a faithful attendee at Wildlife
Committee Meetings and provided significant support to the
Trust on scientific matters specifically in areas concerning invasive
species and native flora.

Dr. Hammerton was a former professor at the University College
of Wales and at the University of the West Indies in Trinidad. He
also served as the Senior Scientist for the Caribbean Agricultural
Research and Development Institute. He served as an Assistant
Director at the Bahamas Department of Agriculture and was
employed at the Bahamas Environment Science and Technology
(BEST) Commission where he served as the Chief Scientist. He
was also the co-author of the bilingual “Weeds of the Lesser
Antilles”

Dr Hammerton was also active on many national committees and
initiatives including the National Wetlands Committee, the
National Biodiversity Committee. He was involved in the
production of key national documents including the National
Biodiversity Strategy and Action Plan and the Bahamas Biodiversity
Country Study.

The Council and Staff of the Bahamas National Trust extend our
deepest sympathy to his family and to his many friends and
colleagues.

Although human subtlety makes a variety of inventions by different
means to the same end, it will never devise an invention more
beautiful, more simple, or more direct than does nature, because in
her inventions nothing is lacking, and nothing is superfluous.
- Leonardo DaVinci

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THE TRIBUNE | FRIDAY, MAY 30, 2008, PAGE 9

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PAGE 10, FRIDAY, MAY 30, 2008

THE TRIBUNE



PLP: Tax cuts an attempt to make up for ‘blunder’

FROM page one

“The math does not make
sense,” he said.

The projected budget deficit
for the 2008/9 fiscal year is $235
million.

Mr Christie suggested that an

announcement of the sale of
state assets by the government
may be what it expects to make
up the revenue shortfall. This
statement primarily refers to
the sale of BTC which the gov-
ernment says should occur by
the end of the year. However,

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the sale of Bahamasair, alluded
to in the annex of the prime
minister's budget communica-
tion, may also be a part of this
equation.

The opposition leader also
expressed concerns that the sav-
ings from the tax cuts on food
items may either not be passed
on to consumers by retailers
keeping the margins; or, that
the rise in the price of com-
modities worldwide will wipe
out any savings Bahamians may
have been expecting.

"Indeed with rice prices set
to rise by June 2008, for exam-
ple, by 30 per cent for the year,
and the price of wheat already
double what it was just over a
year ago, how is the removal of
two per cent tax on food items a
significant savings, and what
guarantee does the consumer
have that any savings will be
passed on to them and not to

the merchants’ bottom line?"
asked Mr Christie. He empha-
sised that the two per cent
stamp tax elimination amounts
to 10 cents on an item that costs
$5. "The government must say
where price control fits into
these new measures. The busi-
ness community here has posted
on an international website the
story of the delays in obtaining
price control approval for the
importation of rice from
abroad, and the result that this
could have on the availability
of rice into the country," said
Mr Christie. "We still think that
price control is a useful mecha-
nism in regulating the supply of
goods and services for the poor,
but it must be efficiently applied
if it is to help the poor.”

Mr Christie also suggested
that the FNM is merely adopt-
ing the PLP's policies in many
instances in the budget. The

stamp tax exemption for home-
buyers which his government
had instituted, but which
expired under the FNM's
watch, was an example of this,
he said.

The move of the ports to
Arawak Cay, rather that to the
southwestern New Providence
as the PLP had championed,
was again sharply criticised by
Mr Christie.

The PLP government went
through a comprehensive sci-
entific study that determined
the new port was best suited in
southwestern New Providence,
said the opposition leader.

“This government will
destroy the whole concept of
the use of Arawak Cay as a
beautiful gateway to Nassau.
Under their plan, the first and
last site tourists will see is an
industrial centre,” he said.
“They must reveal the scientif-

ic and engineering rationale for
this curious and negative deci-
sion, otherwise we are left to
believe that it is only to change
what the PLP said, however
correct and beneficial to the
Bahamian people.”

He also suggested that the
rise in fees for banks and trust
companies owed to the govern-
ment may ultimately be passed
on to consumers potentially
making it more expensive to
borrow. On what the PLP per-
ceives as a lack of focus on
crime in the budget, the PLP
leader added: “One cannot help

but note that there are no spe- |

cial initiatives in this budget to_
fight crime. On crime and»
national security, it is very much,
business as usual. One has to ©

ask what is this government
thinking in the face of the”

unprecedented concern in this
country about crime?”

Government under pressure to
stop Bimini project phase

FROM page one

short film earlier this year on
the subject.

In his article, Mr Costeau
said: “Unless something is done
soon to develop a more sus-
tainable plan that safeguards
the habitat, it will soon be bull-

dozed forever. The Capo Group

From: Parents: Pearlene and oe C

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plan to expand Bimini Bay in
favour of more condos and a
golf course in Phase II. {If Bimi-
ni is to be saved, Phase\lI must
be stopped.”

He added that “the decision
to protect this unique paradise
must be made now.”

“Mr Costeau proposes that a
Marine Protected Area is estab-

lished in Bimini encompassing
the area’s remaining mangroves.

“Nature has the remarkable
ability to heal wounds that we
inflict on land and sea. In the
case of Bimini’s mangrove
forests, it’s not too late to halt
development, establish the
MPA, and let nature take its
course,” he said.

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Asked yesterday where gov-
ernment stands in terms of
negotiations with the Capo
Group on the project's further
development, BIS Deputy
Director Sharon Turner, said:
“As the Prime Minister has
announced the appointment of
a Minister for the Environment
on July 1, you might perhaps
await that appointment to pur-
sue your questions in this
regard.”

She added however that.

“dredging has been brought to,,

an end at Bimini Bay,” although,
it is unclear whether this was as
a result of a specific period of
development coming to a nat-
ural close Gr the demands of the

_government having in mind

environmental concerns.

In a filmed interview in Jan-,

uary with Fabien Cousteau of
the Ocean Future’s Society,
which appears on the Save
Bimini Association’s website,
Kenneth Russell, minister of
housing, said that government
was soon to meet with the
developer “to see how we can
shift this thing around.”

He said that while it was the ,

FNM who were in power when
the project was initially
approved, over the five years
that they were in Opposition
the development went “hay-
wire”.

He told Fabien Costeau that ,.

government would be looking
in. these meetings to “to proba-
bly stop any future mangrove

removal, any future dredging ,

and reclamation of land” as well
as to have the developers

reduce the size of their pro-.,

posed golf course from 18 holes ;
to the nine that the FNM origi-
nally agreed to.

Meanwhile, Bimini Bay rep-;

resentatives maintain that the,,
project is respecting the envi- ,,;

ee

i

ronmental integrity of the island ,,,

and its surrounding habitats.
In the Save Bimini Associa-,

tion’s film, Patrick Perichon,,.,;.,

general manager at the resort,
said: “Bimini Bay will never do
anything against the environ-,
ment. That’s a fact.”

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THE TRIBUNE





James Blake



Blake exits —
French Open
in 2nd round

@ TENNIS
PARIS
Associated Press

JAMES BLAKE’S frus-
tration rose to a crescendo
Thursday.

The top U.S. man in the.

French Open was talking to
himself, and the words were
growing louder. He was
bothered by the clay under-
foot. By the chair umpire. By
his own play. And, most of
all, by the drop shots and
assorted other winners his
up-and-coming foe produced.

For the fifth time in six
career trips to Roland Gar-
ros, Blake departed, before
the third round, losing this
time to 80th-ranked Ernests
Gulbis of Latvia 7-6 (2), 3-6,
7-5, 6-3. It was part of a 1-3
showing by American men
Thursday, when Mardy Fish
and Bobby Reynolds also
lost.

The 88th-ranked Robby
Ginepri knocked off No. 27
Igor Andreev 4-6, 6-2, 7-6
(5), 6-2 to join Wayne
Odesnik as the only players

from the United States in the’;

third round.

“Americans a lot of times
don’t have the highest expec-
tations on clay,” the No. 7-
seeded Blake said. “But I
really felt like this match
today was a match I could
have won.”

There were moments, if
ever so brief, that similar
thoughts ran through the
minds of the men facing No.
1 Roger Federer and No. 2
Rafael Nadal.

Federer’s opponent, 60th-
ranked Albert Montanes of
Spain, staked himself to a
one-set lead — and then was
overwhelmed the rest:-of the
way in a 6-7 (5), 6-1, 6-0, 6-4
victory for the owner of 12
Grand Slam titles.

Nadal’s opponent, 148th-
ranked Nicolas Devilder of
France, was one point from
serving for the first set, hold-
ing a break point at 4-all —
and then. was completely
overwhelmed the rest of the
way in a 6-4, 6-0, 6-1 victory
for the owner of the past
three French Open titles.

“His forehand was not a
big problem for me to start
with. And I thought, "Why
not? Why not?”’ Devilder
said,

And then?

“The games go by so
quickly,” he said. “They go
by so quickly, and you think:
*When is it going to end?”

Nadal improved to 23-0 at
Roland Garros and said he’s
“improving with each
match.”

Federer, meanwhile, called
his outing “a good test.”

He saved all six break
points he faced, including
two during a rain shower

while trailing 5-4 in the first t

set. After a 1 1/2-hour rain
delay — making it the fourth
of the tournament’s five days
with wet weather — he came
out and lost the tiebreaker.

But as Federer put it:
“Bounced back strong.”

Talk about understate-
ment. From Montanes’ per-
spective, Federer was “like
a-hurricane. I couldn’t do
anything. You can tell that
he’s here to win this tourna-
ment.”

In the third round at the
only major tournament he
hasn’t won, Federer faces a
familiar foe: Mario Ancic of
Croatia, the last man to beat
him at Wimbledon, back in
2002.

SECTION

rt

2008



INSIDE ¢ International sports news



Knowles and Bhupathi defeated in
the first round of the French Open

m@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

The second grand slam
for Mark Knowles and his
latest partner in the post-
Nestor-era, ended bitterly
in a surprising early exit.

The fourth ranked pair-
ing of Knowles and Mahesh
Bhupathi fell in the open-
ing round of Roland Gar-
ros, the French Open.

Knowles and Bhupathi
were outdueld by the team
of Stephen Huss; Australia,
and Ross Hutchins, Great
Britain, in straight sets 6-4,
6-4.

In a match that took just
49 minutes, Knowles and
Bhupathi were outmatched

in nearly every conceivable
statistical category.

Huss and _ Hutchins
recorded a winning per-
centage of 74 percent on
first serves and 47 percent
on second serves.

They were 3-8 on break
point conversions for 38
percent and won a total of
75 points.

Knowles and Bhupathi
won just 66 and 37 percent

on first and second s serves

- respectively.

They were just 1-8 on
break point conversions, 13
percent and scored a total
of 63 points.

The unranked ean of
Huss and Hutchins will
face the winner of the
opening round matchup
between Americans Scott

Lipsky and David Martin
and Ivan Ljubicic, Croatia,
and Peter Pala, Czech
Republic.

Knowles and Bhupathi
were one of only two
ranked teams to fall in the
opening round thus far.

The 12th ranked team of
Max Mirnyi, Belarus, and
Jamie Murray, Great
Britain, also lost their
opening round bid with a
3-6, 6-3, 7-5 loss at the
hands of Rik De Voest,
South Africa, and Robin
Haase, the Netherlands.

Top seeds Mike and Bob
Bryan easily advanced with
a 6-1, 6-4 win over Rohan
Bopanna, India, and Aisam-
Ul-Haq Qureshi, Pakistan.

‘Knowles’ former partner,

Daniel Nestor and Nenad:



Zimonic, the tournament’s
second ranked pair also eas-
ily advanced to the second
round with a ‘6-3, 6-3 win
over Frenchmen Edouard
Roger-Vasselin and Giles
Simon.

Knowles and Nestor were
won the doubles titles at
Roland Garros in 2007, the
third grand slam win for the
team in a Six year span.

Knowles is still alive in
mixed doubles with partner
Zi Yan, China.

The fifth ranked team will

. face unranked Tatiana

Poutchk, Belarus, and

. Julian Knowle, Austria.

For the year, Knowles
and Bhupathi have won two
titles, in Dubai and Mem-
phis and have also been
finalist in two others.

IN THIS March 29, 2008 file photo, mixed martial arts fighter Kimbo Slice walks to the cage during the Strikeforce mixed martial arts event
in San Jose, Calif. ‘After coming on strong among young men in the last several years, the sport of mixed martial arts is headed for a clinch
with mainstream pop culture. CBS on Saturday, May 31, will become the first legacy network to show full matches in primetime.

Bahamian fighter headlines
Mixed Martial Arts event —

m@ By RENALDO DORSETT °

_ Sports Reporter
rdorsett@tribunemedia.net

ONE of the fastest growing
sports in the United States will
premiere live on network tele-
vision for the first time, fea-
turing a fighter of Bahamian
heritage as one of its star
attractions.

Bahamian-born Kimbo
Slice will headline the Mixed
Martial Arts showcase, “Elite
XC Saturday Night Fights”
airing on CBS, May 3lst, at
9pm.

The 6’2”, 250 pound Slice,
whose listed styles include
boxing and streetfighting, will
face mixed martial artist
James Thompson of Great
Britain in the main event on
the card.

The 6’5” 270 pound Thomp-
son comes into the contest
having lost his last three fights
with an overall record of 14-8.

Slice, whose real name is
Kevin Ferguson, was born in
Nassau and rose to promi-
nence as a street fighter whose
videos heavily circulated the
Internet via YouTube.

He parlayed his popularity

into a mixed martial arts
career and is now assigned as
a feature fighter for Elite XC.
The 34-year-old Slice boasts
a 3-0 MMA record with victo-
ries over Ray Mercer,-Bo
Cantrell and Tank Abbott.
He totaled a street fight
record of 7-1 with his lone
loss coming Sean Gannon.
Slice’s camp contends the
loss remains under dispute.
Slice has become such a
giant in the sport and pop cul-
ture icon that he graced the
cover of ESPN magazine and
has become arguably the most
recognizable athlete in the

sport.

The father of six is a former
high school football standout
at Miami Palmetto High in
Miami, Florida and attended
the University of Miami on an
academic scholarship, howev-
er, withdrew after three
semesters.

Fighting on the undercard
will be Elite XC Middleweight
Champion Robbie Lawler
defending his title against
Scott Smith.

The undercard will feature a
total of eight bouts including
female MMA fighters Gina
Carano and Kaitlin Young.

Jeff Chiu/AP Photo



Mark Knowles

hiley said to

be intrigued

hy Mayo

@ BASKETBALL
LAKE BUENA VISTA, Fla.
Associated Press

HEAT President Pat
Riley, who owns the No. 2
pick in the NBA draft, has
said he might do something

is -unexpected June 26 rather

than simply choose Mem-
phis point guard Derrick
Rose or Kansas State pow-
er forward Michael Beasley,
the top-rated prospects.

If Riley selected South-
ern California’s O.J. Mayo -
- or came away with him in
a trade -- and paired him
with Dwyane Wade, the
Heat would be creating an
unconventional but poten-
tially explosive backcourt.

Mayo, 20, is a natural
shooting guard who some
think could start at point
guard alongside Wade.

“Don’t fill a position,”
Portland scout John
Gabriel, a former Orlando
Magic general manager,
said of one draft philoso-
phy. “Take the unequivo-
cally best player you can.”

The possibility of Riley
pulling a stunner is merely
speculation this week at the
NBA pre-draft camp. But
he did recently discuss
“leveraging” the pick and
is said to be impressed by
Mayo.

At 6-foot-5 and 200
pounds, Mayo is a big guard
with impressive credentials.
He averaged 20.7 points, 4.5
rebounds, 3.3 assists and 1.6
steals in his one season at
USC, has a nice jumper and
shows a willingness to play
defense.

Heat fans will recall
Wade playing point guard
as a rookie in 2003-04, with
Eddie Jones starting at
shooting guard. Miami went
17-4 down the stretch that
season to finish 42-40, and
won a seven-game series
against New Orleans in the
first round of the playoffs.

Wade moved to his nat- .
ural position, shooting
guard, in his second season
and has been a fixture there
ever since. But he showed
that a guard is a guard.

“We play in a league now
where you don’t have to
have a point guard,”
Gabriel said.

Toronto coach Sam
Mitchell said Cleveland for-
ward LeBron James also
has shown that it’s not
always necessary to worry
about traditional roles.

“Everybody’s always
talking about Lebron needs
a point guard,” Mitchell
said. “To do what?
Lebron’s going to have the
basketball when it matters.
You need someone to play
off him.”
PAGE 12, FRIDAY, MAY 30, 2008

TRIBUNE SPORTS



wee

BRIEF



High school
football player
‘flies after practice

m@ FOOTBALL
IRVINE, Calif.
Associated Press

A high school football play-
er is dead after collapsing
during practice in Southern
California. ;

Irvine police Lt. Rick
Handfield says 15-year-old
Dylan Bradshaw apparently
had an asthma attack during
junior varsity practice
Wednesday at Northwood
High School. A trainer took
Bradshaw to the locker room,
where he went into cardiac
arrest.

The trainer administered
CPR and Bradshaw was in

ep

taken to a hospital. He died
there, about 90 minutes after
collapsing.

Venus Williams
reaches 3rd round
at French Open

@ TENNIS
PARIS
Associated Press

Venus Williams had a
much easier time in the sec-
ond round of the French
Open than in the first.

The No. 8-seeded Williams
overcame 25 unforced errors
and used a six-game run to
take control en route to a 6-2,
6-4 victory over 241st-ranked
qualifier Selima Sfar of
Tunisia at Roland Garros on
Thursday.

Williams’ serve was broken

Sp MER She Say ites Bes Ts Min: A a ES a RE Se Se, RC,

, to put her behind 2-1,but she fa

didn’t drop another game

until leading 1-0 in the’sec-
ond set. The American need- “?:
ed three sets to get through

her opening match.
She made 16 more

unforced errors than Sfar, but
made up for that with strong
play at the net. Williams won
the point on 24 of her 35 trips
forward.

critical condition when he was * i





FIFA lifts ban on
‘Iraq; postpones —
‘Chad-Sudan qualifier

i SOCCER a
SYDNEY, Australia
Associated Press

i
SOCCER’S governing
body lifted its international
ban on Iraq hours before a

Thursday midnight dead-

line, allowing Sunday’s
World Cup qualifier against
Australia to go ahead.

FIFA also announced
Thursday the World Cup
qualifier between neigh-
boring Sudan and Chad,

ischeduled for May 31, was
jindefinitely postponed
‘pending a decision of the
‘World Cup organizing com-
mittee.

FIFA had suspended Iraq
on Tuesday over what it
said was government inter-
ference in the running of
the sport by dissolving the
national Olympic commit-
tee and all sports federa-
tions.

The ban was provisional-
ly lifted eight hours before
ithe deadline — Sydney
‘local time — when FIFA
‘Said it received documenta-
jtion from Iraqi officials
‘which explained the situa-
tion.

' “FIFA received a letter
from the general secretariat
for the Council of Ministers
of the Republic of Iraq, con-
firming that the IFA (Iraqi

Football Association) had -

been ’excluded’ from the
above-mentioned decree,
thereby re-establishing the
statutory order of the Iraqi
association and its leaders,
who will ’continue their
activities inside and outside
Iraq until legal election’,”
FIFA said in a statement.

However, FIFA said that
more meetings would be
scheduled with Iraqi offi-
cials in Zurich and that the
ban could be re-imposed if
certain criteria were not
met.





SPORTS

SPORTS

Marcio Jose Sanchez/AP Photos

OAKLAND Athletics starting pitcher Dana Eveland, bottom, falls down while trying to field a ground ball by Toronto Blue Jays' Marco Scutaro, top, in the second inning of a-

baseball game in Oakland, Calif. Thursday, May 29, 2008. Scutaro was given an infield single on the play.

Toronto gets victory over Oakland

Rios breaks tie
with RBI double

@ BASEBALL
OAKLAND, Calif.
Associated Press

ALEX RIOS came up big for
the Blue Jays with his bat and
his glove.

Rios followed a great catch
in the sixth by hitting a tiebreak-
ing RBI double in the ninth that
helped secure the win for Roy
Halladay, and Toronto beat the
Oakland Athletics for the first
time in five tries this season with
a 2-1 victory Wednesday night.

Rios made the catch against
the wall in center field on a
hard-hit ball by Mark Ellis.

ae “The ball, here, at night, just
bangs up, there,” he said. “I

thought I had a good chance to
get there. I’m going to go hard

to every ball. It just went down ~

into my glove. I was pretty close

to the fence — not close enough ~

to worry, but close enough to
think about the wall.”
Halladay certainly appreciat-



ed the defensive effort.

“It was a game-changer,” he
said. “When you’re not hitting
spots like you want, it’s nice to
get those kind of plays behind
you.”

Halladay (6-5) outshined
Rich Harden in an impressive
pitcher’s duel between two of
the. American League’s top
right-handers, winning his third
straight decision.

After seeing three fastballs,
Rios lined a 1-2 change-up for a
one-out single down the left-
field line off loser Keith Foulke
(0-1) and the A’s had their sea-
son-high tying five-game win-
ning streak snapped. Foulke’s
last loss came April 21, 2006, at

Toronto.

His catch had plenty of peo-
ple talking afterward, too.

“I didn’t think he was going
to catch it,” A’s manager Bob
Geren said. “I thought it was
going over his head.”

Halladay matched his season
high with nine strikeouts, and

. he allowed eight hits and one

run and walked one in eight
strong innings. B.J. Ryan
worked the ninth for his 12th
save in as many tries.
Halladay, coming off his AL-
leading fifth complete game of
the year in his previous start,
went 20 innings between walks
— from the second inning May
9 to the second inning Wednes-



day. He has one walk in his last
27 innings.

The A’s are the only AL
team against whom Halladay
hasn’t pitched a complete game.

“Tonight was kind of a strug-
gle,” he said. “It seemed like I
pitched myself into trouble and
had to work my way out of it. It
was one of those games where
I'd get behind guys 2-0, 3-0, and
that’s something I try to avoid
— pitching in hitter’s counts.
You have to grind through it.”

Bobby Crosby got a two-out
double in the third and Jack
Cust then singled him home for
Oakland’s lone run. That ‘tied
the game at 1 after Shannon
Stewart singled in a run in the
top half for Toronto against his
former team.

Cust was 0-for-15 against
Toronto this year before going
3-for-4 Wednesday. ~

After Stewart’s single, Hard-
en retired nine of the next 10
batters he faced before Rios

reached on an error in the sixth
— and Harden retired 12 of his
final 14 hitters.

“It was a tough one today,”
Harden said. “I felt decent but
I really wanted to go a little
deeper. Overall I felt really
strong.”

The Blue Jays saved a run in
the sixth when first baseman
Lyle Overbay threw out Cust
at the plate and catcher Rod
Barajas did a good job blocking
the plate.

Harden gave way to Chad
Gaudin after seven innings and
104 pitches with the game tied.

° He had'won his previots ‘two
‘ starts and pitched well enough

in this one. The hard-throwing
‘Hardén made'his’ fourth’ $tart
since coming back from a dis-
abled list stint with a shoulder
injury, allowing five hits and
one run with five strikeouts and
no walks. Harden didn’t sur-
render a walk for the first time
this season.



TORONTO Blue Jays starting pitcher Jesse Litsch throws to the
Oakland Athletics in the third inning.

OAKLAND Athletics first baseman Darie Barton, left, gets drawn off
the base by a wide throw from pitcher Dana Eveland as Toronto
Blue Jays' Shannon Stewart reaches safely for a infield hit in the
first inning.

TORONTO Blue Jays second baseman Aaron Hill (2) collides with shortstop David Eckstein on a pop fly
by Oakland Athletics’ Rob Bowen during the seventh inning of a baseball game in Oakland, Calif.,
Thursday, May 29, 2008. Bowen was safe at first with a single.

! !
TRIBUNE SPORTS

FRIDAY, MAY 30, 2008, PAGE 13






Boston wins
a thriller

in Game 5

Revived Allen helps Celtics
to take a 3-2 playoff lead

m@ BASKETBALL
BOSTON
Associated Press

RAY ALLEN raised his.

arms to fire up the Boston
crowd with 4.5 seconds left.

The struggling Celtics sharp-
shooter already had excited the
fans by finding his shooting
touch Wednesday night and
helping Boston move one win
away from its first NBA finals
in 21 years.

“My feeling now is no differ-
ent from if I had'scored 10
points and we still won the
game,” said Allen, who scored
29 in the 106-102 win over the
Pistons. “It’s a great feeling
because (of) the joy on every-
body’s face.”

The Celtics lead the best-of-
seven Eastern Conference final
3-2 and can wrap it up Friday
night at Detroit. If not, Game 7

will be in Boston on Sunday’

night.

But their joy nearly turned
to misery as they let a 17-point
lead with 1:19 left in the third
quarter drop to 100-99 with 1:23
to go in the game.

Then Boston took a 20-sec-
ond timeout to:set up a play for
Allen or Kevin Garnett. Allen
caught the inbounds pass from
James Posey and immediately
took a shot from the left corner.
It went in and the crowd
roared.

“T assumed he threw it
because I was open,” Allen
said. “Posey made a play and it
was time for me to put the shot
up.”

Rodney Stuckey hit two free
throws to make it 102-101 with
8.2 seconds left, and Allen fol-
lowed with two more to restore
the 3-point lead with 6.3 sec-
onds remaining.

Then Stuckey was fouled
and, as Allen played cheer-
leader a few feet behind him,



the Pistons rookie missed the
first shot then made the sec-
ond. Garnett, who led all scor-
ers with 33 points, finished with
two free throws with 3.4 sec-
onds to play. :

_ “We knew the significance of:
this game,” Garnett said. “You
don’t win this game, you put ©

basically yourself in a corner.”

Now the Pistons, in their
sixth straight conference final,
must win at home to have a
chance at their second NBA
title in that span. .

“Qur experience and our
being in this for so long and
being in so many tough situa-
tions, and us being at home
helps,” said Chauncey Billups,
who led Detroit with 26 points.
“Those are the kind of things
that you’ve got to kind of lean
on.”

NOTES:

¢ The Pistons took eight more
free throws than the Celtics, but
Detroit's Rasheed Wallace said,
“A lot of those foul calls, cats
were flopping and falling all over
the floor.” He picked up a techni-
cal with 5:18 left, his sixth of the
postseason. The next one earns
him a one-game suspension.

° Wallace was 6-of-9 on 3-point-
ers, providing all his 18 points,
after going 3-for-27 in his previ-
ous eight games.

e Every Celtic starter played at
least 38 minutes.

¢ Patriots coach Bill Belichick and
linebacker Tedy Bruschi were in
the crowd.

e. Antonio McDyess had four
points and five rebounds and
fouled out with five minutes left.
He had 21 points and 16
rebounds in Detroit’s Game 4
win.

Charles Krupa/AP Photos

BOSTON Celtics guard Ray Allen, right, stumbles as he is held by
Detroit Pistons center Rasheed Wallace (36) as Allen moves to the

hoop in the second half of Game 5.

_ SPORTS

BOSTON Celtics
forward Paul
Pierce (34)
reacts toa
basket by
Celtics center
Kendrick
Perkins, not in
photo, in front
of Detroit
Pistons forward
Tayshaun
Prince (22) in
the second half
during Game 1
of the NBA Eastem
Conference
basketball finals
in Boston,
Tuesday, May
20, 2008. The
Celtics beat the
Pistons 88-79.




independent Auditor’s Report
“to the members of Standard Chartered PLC








We read other information contained in the Annual Report
and consider whether it is consistent with the audited financial s
statements. We consider the implications for our report if we
become aware of any apparent misstatements or material
inconsistencies with the financial statements. Our responsibilities
do not extend to any other information. - .

We have audited the Group (Standard Chartered PLC and its
subsidiaries) and Company (Standard Chartered PLC) financial
statements (together referred to as the ‘financial statements’) for
» the year ended 31 December 2007 which comprise the Group
Income Statement, the Group and Company Balance Sheets,
the Group and Company Cash Flow Statements, the Group and
Company Statements of Recognised Income and Expense, and






the related notes. These financial statements have been prepared
under the accounting policies set out therein. We have also
audited the information in the Directors' Remuneration Report
that is described as having been audited.

This report is made solely to the Company's members, as a
body, in accordance with section 235 of the Companies Act
1985. Our audit work has been undertaken so that we might
state to the Company's members those matters we are required
to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the Company and
the Company's members as a body, for our audit work, for

this report, or for the opinions we have formed.

Respective responsibilities of directors and auditor

The directors’ responsibilities for preparing the Annual Report,
the Directors’ Remuneration Report and the financial statements
in accordance with applicable law and International Financial
Reporting Standards (IFRSs) as adopted by the EU are set out
in the Statement of Directors’ Responsibilities on page 86.

Our responsibility is to audit the financial statements and the
part of the Directors’ Remuneration Report to be audited in
accordance with relevant legal and regulatory requirements,
and Internationa! Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the financial
statements give a true and fair view and whether the financial
statements and the part of the Directors’ Remuneration Report
to be audited have been properly prepared in accordance with
the Companies Act 1985 and, as regards the Group financial
statements, Article 4 of the IAS Regulation. We also report to -
you whether in our opinion the information given in the Report

of the Directors is consistent with the financial statements. The
information given in the Report of Directors includes information
presented in the Chairman's statement, the Group Chief
Executive's Review and the Financial and Business Reviews that
are cross referenced from the Report of the Directors. In addition
we report to you if the Company has not kept proper accounting
records, if we have not received all the information and
explanations we require for our audit, or if information specified
by law regarding directors’ remuneration ‘and other transactions
is not disclosed. .

Basis of audit opinion

We conducted our audit in accordance with International
Standards on Auditing (UK and Ireland) issued by the Auditing
Practices Board. An audit includes examination, on a test basis,
of evidence relevant to the amounts and disclosures in the
financial statements and the part of the Directors’ Remuneration
Report to be audited. It also includes an assessment of the
significant estimates and judgements made by the directors in
the preparation of the financial statements, and of whether the
accounting policies are appropriate to the Group's and Company's
circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the
information and explanations which we considered necessary

in order to provide us with sufficient evidence to give reasonable
assurance that the financial statements and the part of the
Directors’ Remuneration Report to be audited are free from
material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion we also evaluated the
overall adequacy of the presentation of information in the financial
statements and the part of the Directors’ Remuneration Report to
be audited.

Opinion
In our opinion:

the Group financial statements give a true and fair view, in
accordance with IFRSs as adopted by the EU, of the state
of the Group's affairs as at 31 December 2007 and of its
profit for the year then ended;

the Company financial statements give a true and fair view,
in.accordance with IFRSs as adopted by the EU as applied in
accordance with the provisions of the Companies Act 1985, of
the state of the Company's affairs as at 31 December 2007;

the financial statements and the part of the Directors’
Remuneration Report to be audited have been,properly
prepared in accordance with the Companies Act 1985 and,.
as regards the Group financial statements, Article 4 of the IAS
Regulation; and

the information given in the Report of the Directors is consistent
with the financial statements. ;

We review whether the Corporate Governance Statement reflects KPMG Audit Pic

the Company's compliance with the nine provisions of the 2006 London

FRC Combined Code specified for our review by the Listing Rules Chartered Accountants
of the Financial Services Authority, and we report if it does not. Registered Auditor

We are not required to consider whether the Board's statements 26 February 2008



on internal contro! cover all risks and controls, or form an opinion
on the effectiveness of the Group's corporate governance
procedures or its risk and control procedures.







Consolidated Balance Sheet
As at 31 December 2007





























Cash and balances at central banks ; ; 42 10,175 7,698
Financial assets held at fair value through profit or loss 15 22,958 15,715
Derivative financial instruments : 16 26,204 13,154
Loans and advances to banks 17, 20 35,365 19,724
Loans and advances to customers 18, 20 154,266 139,300
aoe ae 22 55,274 49,497
's in associates
23 269 218
Goodwill and intangible assets . 25 6,380 6,247
Property, plant and equipment 26 2,887 2,168
Deferred tax assets 27 559 512
Other assets 28 114,017 8,601
Prepayments and accrued income 3,857 3,268
Total assets 329,205 266,102
Liabilities
Deposits by banks 29 25,880 26,233
Customer accounts , 30 179,760 147,382
Financial liabilities held at fair value through profit or loss 31 14,250. 9,969
Derivative financial instruments 16 26,270 13,703
Debt securities in issue 1 32 27,137 23,514
Current tax liabilities 185 68
Other liabilities 34 14,742 11,331
Accruals and deferred income 3,429 3,210
Provisions for liabilities and charges 35 38 45
Retirement benefit obligations 36 322 553
Subordinated liabilities and other borrowed funds 37 15,740 12,699
Total liabilities 307,753 248,707



















Equity

Share capital 38 705 692
Reserves : 39 20,146 16,161
Total parent company shareholders’ equity 20,851 16,853
Minority interests 40 601 542
Total equity : 21,452 17,395
Total equity and liabilities 329,205 266,102



* Amounts have been restated as explained in note 51 on page 154.
These accounts were approved by the Board of Directors on 26 February 2008 and signed on its behalf by:

E M Davies
Chairman




P A Sands

RH Meddings
Group Chief Executive

Group Finance Director




Interested persons may obtain a complete copy of the Audited Accounts
from SG Hambros Bank & Trust (Bahamas) Limited, P.O. Box N-7788, West
Bay Street, Nassau Bahamas.




14, FRIDAY, MAY 30, 2008

RIDAY EVENING | MAY 30, 2008



















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THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 15



Stabbing sparks
school war fears

FROM page one

The Tribune that an “all out
brawl” had started after eight
male students from, Doris John-
son tried to rob one of three
RM Bailey students who stood
in the parking lot of the Shell
gas station on Prince Charles
Highway — directly across from
Doris Johnson high school.

According to the eye-witness,
one male student from Doris
Johnson took a Blackberry cell-
phone from one of the RM Bai-
ley students.

When the student attempted
to get his cellphone back, a fight
broke out.

It is reported that it was at
this point that the first student

three times in his back. A sec-
ond student from RM Bailey,
who had come to his classmate’s
aide, was also stabbed in his
side.

It was at this point that addi-
tional students from Doris
Johnson joined in the brawl and
began to “kick and stomp” the
two students from RM Bailey,
as they lay gripping their
wounds, the eye-witness said.

Reportedly, as this gruesome
scene unfolded, a crowd of
female students from Doris
Johnson had gathered and were
said to be “cheering” their class-
mates on. :

“The girls were standing
nearby, right there,” the eye-
witness said, pointing at the
scene where a bloodied red and

white RM Bailey shirt lay.

“They were right there,
cheering as they were stomping
them,” he said.

Reportedly two riot vans and
three squad cars from the Eliz-
abeth Estates Police station
arrived on the scene.

It is claimed that these offi-
cers had to quickly stop a Jitney,
and a truck filled with RM Bai-
ley students who were nearing
the scene.

The vehicles, a source stated,
had to be pulled over into the
Carey’s shopping plaza until
officers had gained control of
the area.

A male student, who is said to
be between 15 and 16 years of
age, is being actively sought by
the police.

from RM Bailey was stabbed

McKenzie guilty of murder

FROM page one

Cheryl Grant-Bethel told the jury that Dean, 27,
had been the victim of a senseless killing. She
told the jurors that Mckenzie, also known as
"Danger Mouse" had the clear intention to harm
Dean as he had chased him down and shot him
multiple times. Mrs Grant-Bethel noted that the
incident was a brazen attack which took place
amidst numerous bystanders who had come out to
the One Family junkanoo practice at the parking
lot of the old City Market food store on Market
Street that night.

According to trial evidence, Dean and some
friends had visited the Valley Boys and Saxons
junkanoo practice on the night of December 13
before arriving at the One Family junkanoo prac-
tice. Mrs Grant-Bethel told the jury that there had
been no direct provocation for the killing. Mrs
Grant-Bethel noted that in his unsworn state-

Caution
urged on
gas-saving

device

FROM page one

uncontrolled combustion of
accidentally released hydro-
gen,” it. says.

“The low viscosity and small
molecular size of hydrogen give
it a greater propensity to leak
than other common gaseous
fuels.”

Hydrogen, it said, will leak
about 2.8 times faster than nat-
ural gas and 5.1 times faster
than propane on a volumetric
basis.

“Hydrogen has a much wider
range of flammability in air (4
per cent to 75 per cent by vol-
ume) than methane (5 per cent
to 17 per cent by volume)
propane or gasoline, and the
minimum ignition energy is
about an order of magnitude
lower.”

He said: “Hydrogen is not
something to play with.

“It gave us the Hindenburg
disaster and Apollo 13 (fuel
cell) disaster.”

The Schatz centre offers sev-
eral safety practices, adding:
“These types of safety measures
are best implemented through
sound engineering design and
proper operation and mainte-
nance practices.”

Acknowledging these warn-
ings, Mr. Tyrone Miller who
taught science for 40 years said
last night that he and his broth-
er know that some chemical ele-
ments alone can be very dan-
gerous.

“Hydrogen alone can blow
up the whole of Japan!” he
exclaimed, “But we’re not using
hydrogen alone. The ‘Water
Converter’ is taking hydrogen
and oxygen from our solvent
called ‘Formula 4X’, and mak-
ing a safe unit.”

Once these elements are
combined, Mr. Miller told The
Tribune, the unit goes into the
car’s gas and will result in the
car using less gas.

“As shown on our business
licence, this is not dangerous, it
is not explosive.”

ment, McKenzie claimed that Samuel "Mooshae"
McKenzie, a relative of his who was gunned down
last year, had killed Dean. Mrs Grant-Bethel
told the jury that this, however, was a recent fab-
rication by McKenzie.

Mckenzie’s attorney Richard Bootle told the
jurors that the Crown’s case was laden with incon-
sistent testimony of witnesses and insufficient
evidence.

He questioned the integrity of the prosecu-
tion’s witnesses, telling the jury that the testimo-
ny of one key prosecution witness in particular
was too incredible to believe.

Mr Bootle also pointed out that there was no
physical evidence that connected his client to the
murder as the 9 mm pistol said to be the murder
weapon had never been brought to court and
submitted into evidence.

Mr Bootle.also told the jurors that police had
beaten McKenzie to obtain a confession state-
ment from. him.

BLOODIED: A an is a reminder of the stabbing.

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PAGE 16, FRIDAY, MAY 30, 2008

THE TRIBUNE



Call for alleged abuse probe

FROM page one

in Millar’s Creek, New Providence, on April 19,
unidentified and wearing masks.

The 300 Bahamian and Haitian patrons feared
for their lives as officials handcuffed people,
forced them to the ground, trampled on them
and struck them with their guns, Mr McKenzie
claimed.

He later learned the raid was a joint operation
by the Royal Bahamas Police Force, the Depart-
ment of Immigration and Drug Enforcement
Unit, searching for illegal weapons and drugs at
the premises.

A number of Haitian employees at the cafe
who have work permits were taken into a deten-
tion centre, and an envelope containing money
collected by the doorman was allegedly taken by
officers. The violent treatment by officials sent
shockwaves around the world when Amnesty
International took notice of a story published in
The Tribune.

Minister of National Security Tommy Turn-
quest and Acting Police Commissioner Reginald
Ferguson have received over 1,000 letters calling.
for an independent investigation into the alleged
abuse. Although Mr Ferguson confirmed the
Police Complaints and Corruption Unit is inves-
tigating the allegations, he said the uproar stirred
by “some nonsense that someone told them”,
was out of proportion in relation to the incident.

He said: “We had a police operation as we
always do, and no one is going to influence us
against doing what we do as police officers.

“They painted a picture through the media to
influence people who don’t have a clue about
what is happening.”

Mr McKenzie was arrested in the raid and has
pleaded not guilty to charges of supplying dan-
gerous drugs. His case has been adjourned to
November 27. Mr Turnquest said he will wait to
see the results of the court case and the current
investigation before considering the need for an
independent body to look into the matter.

He said: “There has obviously been a letter
writing campaign initiated and we want to make
sure the police acted properly and there will be an
investigation into that.

“However, we are a country of laws and we
have a judicial process, so we have to go through
that process as well.”

President of the Bahamas Human Rights Net-
work Elsworth Johnson said the people abused in
the raid should sue Government as their consti-
tutional rights were breached.

He said: “I don't think an investigation will
ever be started, even though it is mandatory in the
constitution. The only thing that would force the
Government's hand would be if the people go
to the Judicial Review. These people are saying
their constitutional rights were breached so they

can go to the Supreme Court and have them

enforced.”



FROM page one

Partial Cabinet shuffle on cards

“These were not announced
(on Wednesday) by the prime
minister but it appears that
there will be ministerial
changes.”

From the heads — or sections
of the budget — observed Mr
Christie, the ministry of educa-
tion will stand alone, while a

ministry of youth, sports and.

culture will be created.

Currently, education, youth,
sports and culture are all in one
ministry under the leadership
of Carl Bethel. Byran Wood-
side is the minister of state for
sports and Charles Maynard is
the state minister for culture.
_ The ministry of education’s
2008/9 budget only makes pro-
vision for one substantive min-
istry and no ministers of state.
However, the ministry of youth,
sports and culture has provision
for one minister and a minister
of state. This may mean that
either Mr Woodside or Mr
. Maynard may be set to receive
a.promotion, one over the oth-
er.

Mr Christie also remarked
that there appears to be changes
in place for the portfolios cur-

Turner and Dion Foulkes. She.

currently is the state minister
for social development and he is
the minister of labour and mar-
itime affairs.

“Similarly, there is need for
an explanation with regard to
head 70 now describing a min-
istry of labour, social and com-
munity development,” he said.
“It appear that the social ser-
vices department is to be split
from the ministry of health.
They need to clarify what is
happening with the department
of social services.”

The new ministry of labour,
social and community develop-
ment does not have provision
for a minister of state, indicating
that Mrs Butler-Turner is likely
to soon be removed from this
portfolio. The ministry of
health, however, has place for a
state minister. Mrs Butler-Turn-
er then appears poised to move
from her current post, but it is
unclear whether she is going to
remain Hubert Minnis’ junior
minister, or whether she will be
sent elsewhere.

When asked yesterday about
a possible move from her cur-
rent post, Mrs Butler-Turner

said she doesn’t know what
changes may occur.

“I'll be speaking on social
development,” she said refer-
ring to her upcoming budget
presentation next week on this
portfolio. “I do not know what
the prime minister has planned,
except, I’ve observed the very
same things that you have.”

The Tribune was unable to
reach Minister of Education
Carl Bethel, Health Minister
Hubert Minnis and Labour
Minister Dion Foulkes yester-
day. Mr Foulkes was reported
to be off the island.

An FNM insider has
informed The Tribune that a
cabinet shuffle will soon occur.
He said, however, that the

_prime minister is the only per-

son who knows exactly who will
go where. The only new post
forecast by the prime minister in
Wednesday’s budget was the
creation of an environment
minister. No money was allo-
cated to this new post in the
recurrent budget, however.

“The prime minister must
explain this apparent ministeri-
al ‘musical chairs’,” said Mr
Christie yesterday.



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Developer pays
$7.5m for 50%
stake in Harbour
Island property

The developers of the Royal
Island mixed-use resort project
last night announced they had
acquired a S50 per cent stake in a
Harbour Island resort for $7.5
million, planning to use it as a
“beach head” to their main pro-
ject.

Royal Island Partners, LP, an
affiliate of Royal Island devel-
opers, Dallas-based The
Staubach Company and its
development arm, Cypress
Equities, said it had purchased a
50 per cent interest in Rock
House, a nine-room hotel on
Harbour Island targeted at
celebrities.

The company purchased half
the hotel’s equity from its co-
owners and co-developers, J.
Wallace Tutt III and Don Pur-
dy, for $7.5 million. Messrs Tutt
and Purdy, who own the other
50 per cent, will continue to
manage the hotel.

“Rock House has a 65-year-
old heritage for hospitality with
a clientele that wants a small,
stylish, discreet hideout for

SEE Page 6B

FOR I DAY

“MAY 30, 2008

SECTION B « business@tribunemedia.net

‘Major underestimate’ on
$129m Stamp collection

* Customs and Stamp Duty amalgamation to cause Bahamians and resi-
dents to pay more taxes on baggage imports
* Over $51m increase for Stamp Duty on property deals worth over
$250,000 not as great as seems, as $129m collected in first 10 months
of 2007-2008 compared to Budget estimates of $98m

* Bank and trust company licence fees more than double to over $25m,
while gaming taxes almost halve to $15.5m

Zhivargo Laing



$4m FINCO loan
provision hints at
, mortgage concern

Lender sees net income drop by
over one-third in 2008 first half

Sponsored by —
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@ By NEIL HARTNELL
Tribune Business Editor

Bahamas-based analysts were
yesterday surprised by the more
than one-third decline in Finance
Corporation of the Bahamas
(FINCO’s) 2008 first half net
income to $6.154 million, a drop
almost entirely accounted for by a
nearly $4 million increase in loan
loss provisions, a sign that home-
owners are finding it difficult to
meet mortgage payments.

Ross McDonald, BISX-listed
FINCO’s chairman, in a state-
ment blamed the “weakening
economy” for an increase in non-
accrual loans, forcing it to
increase the year-on-year loan
loss provision from $198,954 to
$3.943 million for the six months
to April 30, 2008.

The rise in loan loss provisions

accounted for the entire $3.6 mil-

lion, or 37.13 per cent, decrease in -

FINCO’s net income for the 2008
first half to $6.154 million.
Neither Mr McDonald, nor
Tanya McCartney, returned The
Tribune’s calls seeking comment

SEE page 5B

Flemings want to
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@ By NEIL HARTNELL
Tribune Business Editor

The Government "severely underesti-
mated" revenue it would earn from Stamp
Duty on property transactions worth more
than $250,000 in fiscal 2007-2008, a min-
ister telling The Tribune yesterday that it
had already collected $129 million to
March/April 2008, compared to the $98
million full-year estimate.

Zhivargo Laing, minister of state for
finance, said 2008-2009 Budget's project-
ed increase in this Stamp Duty category,
standing at $51.813 million or a 52.8 per
cent rise to $150 million; compared to
$98.187 million in the current fiscal year,
was not as extravagant as it seemed.

This was due to the major underesti-
mate in the 2007-2008 Budget's forecast-
ing,-given that the Government had col-
‘ected over $31 million more than year-





end projections for this line item some
nine to 10 months into its fiscal year.
"The number in the current fiscal Bud-
get was a severe underestimate," Mr
Laing told The Tribune yesterday. "Up to
March/April, we had already collected
about $129 million in this category."
Therefore, he explained that the $150
million estimate for Stamp Duty revenues

SEE page 4B

Hybrid vehicle duty
reduction ‘meaningless’

@ By NEIL HARTNELL
Tribune Business Editor

Bahamian auto dealers and’.
consumers cannot currently
benefit from the Governmen-
t’s decision to reduce import
duties on hybrid vehicles
because they cannot be
imported to this nation, one

* Dealers unable to import product currently, with
duty reduction unlikely to make major dent in con-
sumer prices
* Executive describes fiscal plan as ‘good PR Budget’,
with duty reduction on food paling into insignifi-

senior industry executive yes-
terday describing the 2008-
2009 fiscal plan as “a good PR
Budget” that will make mini-
mal impact on reducing con-
sumer prices.

Rick Lowe, operations man-
ager at Nassau Motor Compa-
ny, explained to The Tribune























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Commenting on the Gov-
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“Toyota and Honda are
thinking about it, but no one

SEE page 5B





PAGE 2B, FRIDAY, MAY 30, 2008

THE TRIBUNE







NOTICE

NOTICE is hereby given that NICOLE LOUISSAINT
of LAZARETTO, CARMICHEAL ROAD, P.O. BOX
CR-56596, 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 30th day of May 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

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Contractors chief: 90% of Out Island
building contracts must go to locals

Government could be biggest property developer in 2008-2009
Budget year with all the complexes and renovations planned

@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

The Bahamas Contractors
Association’s (BCA) presi-
dent yesterday applauded the
Government for the extensive
capital spending allocations in
the 2008-2009 Budget that
were dedicated to the con-
struction of government build-
ings, hoping these projects and
others, along with reductions
in duties levied on building

‘material imporrts, will help

reinvigorate the industry.

Stephen Wrinkle said that
based on the extensive list of
government construction pro-
jects outlined by Prime Minis-
ter Hubert Ingraham in the
Budget communication, the
Government is likely to be the
largest developer in the
Bahamas this year. _

Mr Wrinkle said that over
the past 25 years, and through-
out successive administrations,

many of the Government’s '

buildings had deteriorated to

‘ the point of requiring dracon-

ian repair measures.

“T applaud the Government
for allocating the funds to do
this work now,” he said,
adding that waiting to address
these matters would have cost
the Government twice as
much in future years, given
the rate of inflation.

In his Budget address, the

Prime Minister announced
that the Government had
increased capital spending by
11 per cent to $250 million.
These funds will go towards
extensive improvements to the
Marsh Harbour International
Airport; two 60,0000 office
complexes to be built on Nas-
sau and Grand Bahama,

‘another in Marsh Harbour;

work on the Magistrate’s

» Court Building on Nassau

Street; and the refurbishment

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project for the former City
Markets complex on Market
Street. That complex is to
accommodate the offices of
the Registrar General and
Business License Unit and
Valuation Units.

Work will alsoi be initiated
for the construction of a new
Judicial Complex to accom-
modate the Supreme Court
and the Court of Appeal,
along with major dredging
works in Nassau Harbour.

Mr Wrinkle expressed hope
that now the Budget has been
completed, the long-awaited
Contractors Bill can be passed

to help construction industry |

transparency, particularly as
it relates to the. bidding
process for the many govern-
ment contracts expected to go
tender once the Budget is
passed next month.

The. BCA president said the
Association was pleased the
Government had decided to
reinstate the Stamp Tax
exemption for first-time
homeowners of properties val-

ued at $500,000 or less, and .
extend its real property ‘tax”’

QUALIFICATIONS



“I applaud the
Government for
allocating the
funds to do this
work now.”



Stephen Wrinkle

ceiling to these properties, as
the pool of beneficiaries will
grow by at least 50 per cent.

Mr Wrinkle pointed out
that since home construction
contributed to so many sec-
tors of the economy, the
effects of this decision will be
far-reaching.

Mr Wrinkle said he firmly
believed that construction
work in the Family Islands
should be given to contractors

who lived on the relevant
island first, except in cases
where they might not be able
to handle the scope of works

themselves.

“Ninety per cent of the
work done on Family Islands
should be done by local con-
tractors,” he maintained.

Mr Wrinkle said the deci-
sion to provide incentives for
the redevelopment of the City
of Nassau will likely spur the
construction industry further,
would concessions on con-
struction materials such as ply-
wood, oriented strand board,
insulation, wooden hurricane
shutters, aluminum doors,
wooden windows and cement
boards.

However, he pointed out
that given spiralling fuel costs,
these measures may only off-
set the costs to the consumer
by. cushioning price increases
from external factors.

ST
Pid

BAHAMAS FIRST
HOLDINGS LIMITED

NOTICE TO SHAREHOLDERS

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of the Shareholders will be held on Thursday 12"

June, 2008 at 5:00 pm at Bahamas First Centre, 32

Collins: Avenue, ‘Nassau; The Bahamas.



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° Proficient in reading and understanding survey plans
¢ Proficient with Microsoft Word and Excel

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Surveying of lots for building contractors
: ~ Preparation of survey plans
* __ Recording of survey plans

Qualities:

¢ Self motivated

° Must be a team player
-¢ Creative

° Patient

° A good Listener

* A people person

* A thorough understanding of the issues involved in subdivisions surveying
° A practical, logistical mind.
¢ Numeracy
_* Ability to develop good relationships with other professionals

° Excellent organizational skills.

Compensation

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Deliver to:
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Email: position@arawakhomes.com

Telephone:394-0011 Fax:394-0019


THE TRIBUNE

CAIVDAY, NMIAY SU, ZUU0, FAUE ob

ea ere ee eee ee Oe
Price Control pledges
‘not to retard’ business

@ By CARA BRENNEN-BETHEL
Tribune Businesss Reporter

A senior official at the Ministry of Lands
and Local Government yesterday said the
Price Control Department will do all it can
not to “retard the business” of wholesalers
and retailers when they applying for increas-
es on price controlled items.

Sidney Mckenzie, chief price inspector
at the Ministry, told Tribune Business that
his ministry and the Attorney General’s
office were looking at measures to ensure
that the approval process for increases in
priced-controlled items was done as quick-
ly as possible.

Most price-controlled items in the
Bahamas have their margins set at around
13 per cent for wholesalers, and 23 per cent
for retailers. With the margins fixed, when-
ever import costs facing these Bahamian
companies rise, they are forced to apply to
the Price Control Department for an
increase in the prices they can charge.

Mr Mckenzie explained there was no way
to avoid the process, which entails his office

examining the wholesaler/retailer’s request,
and then sending it to the Attorney Gen-
eral’s Office for vetting, before the appli-
cation is sent back and approved.

However, he said the two government
ministries were looking at ways that this
process can be done more quickly.

“The process could retard the free flow of
sales, but we are making concerted efforts
so that there can be a quick turnover
between us, the AGs office and the mer-
chant,” Mr Mckenzie said.

He added, however, that this process was
necessary and should not be a reason for
Bahamian retailers and wholesalers to hold
an import shipment up.

Earlier, this week, Robert Pritchard, of
wholesaler Asa H Pritchard, which distrib-
utes the Mahatma rice brand in the
Bahamas, confirmed to this newspaper that
the firm had “to hold back” on a rice ship-
ment because it would have made.a loss
on it without having prior price control
approval.

“We had to hold back from ordering
rice,” Mr Pritchard told The Tribune. “It

had to sit in a warehouse until they [the
Price Control Department] approved it,
because you never know how long it’s going
to take.

“We’ve had to limit it to so many bales
per customer with rice, and increasingly it’s
all sold out now.”

Dionisio D’ Aguilar, the Bahamas Cham-
ber of Commerce president had recently
warned that Price Control Department’s
failure to respond in a timely manner to
increase requests for price-controlled items
could cause food shortages and supply chain
interruptions in the Bahamas.

In his budget communication on Wednes-
day, Prime Minister Hubert Ingraham out-
lined that there would be some 160 foods
which would now be exempted from stamp
duty taxes, as a part of the government’s
effort to lower the financial burden of
Bahamians.

Mr Mckenzie said they would be moni-
toring the prices of those items for internal
purposes.

Realtors: Budget can spark sector

By Diane Phillips

Several Bahamian real
estate brokers yesterday
applauded the Government’s
proposal to eliminate real
property tax on owner-occu-
pied properties valued at up
to $500,000 for first-time buy-
ers, while flexing high-end
property taxation by lifting the
$35,000-per-year fixed ceiling
on this tax.

The Government also
moved to extend stamp tax
exemption to first-time home-
buyers purchasing or building
a home for a primary resi-
dence valued at $500,000 or
less.

“This is a great thing and a
great day for Bahamians,” said
Judy Hurlock, founder and
president of Dillycrab Realty,
a firm with two offices and
some 18 staff in Exuma.

“That’s great news,” added
Island Living Real Estate’s

Rachel Pinder.

And Ken Chaplin, of, ERA
Dupuch Realty, echoed the
sentiment, saying “It couldn’t
have come at a better time
with the market as uncertain
as it is. As soon as the Prime
Minister made his speech, the
phone started ringing off the
hook. The whole industry is
talking about it.”

“We cannot rely on other
people creating stimulus in our
economy; we have to put
things like this package in
place to create an impetus that
encourages people to go ahead
and invest,” said Chris Lowe
and David Lunn, a Bahamas
Realty duo who work as the
Salt & Pepper Team, special-
ising in first-time buyers and
the affordable market.

“The person or couple who
buys a home stimulates the
economy in so many ways.
They get a mortgage, insur-
ance, they buy furniture, appli-

CREDIT SUISSE

ances, they may hire a gar-.

dener or housekeeper, they
need a BTC hook-up, BEC.
So their initial purchase has so
many offshoots that generate
customs duties, jobs and other
economic benefits.”

The positive remarks came
in response to the proposed
Budget amendments, which
will provide a tax incentive at
the affordable end of the hous-
ing market and increase the
cap on which taxes are paid at
the high end. That cap now
stands at $3.8 million.

According to the proposal
announced by Prime Minister
Hubert Ingraham, while the
real property tax ceiling now
based on 1 per cent of the real

- property value would be lifted,

properties valued at more than
$5 million would be assessed at
.75 per cent.

But it was the exemption

* from real property tax and the

extension of stamp tax exemp-

Credit Suisse Group, Bahamas
Graduate Training Program

Credit Suisse Group, Bahamas has operated an Apprenticeship Training
Programme in The Bahamas since the early 1990's. Credit Suisse Group, Bahamas
is now pleased to announce the launch of its Graduate Training Programme, with
the first intake intended for July 1*, 2008. Full details and an application form can

be obtained from:

The Graduate Training Program Administrator
Credit Suisse, Nassau Branch
The Bahamas Financia! Centre, 4‘ Floor

Shirley & Charlotte Streets

P.O. Box N-4928
Nassau, Bahamas

Fax No.: 242-356-8148

Application forms should be returned NO LATER THAN JUNE 9, 2008

AIM

Credit Suisse Group, Bahamas is committed to identifying and developing the
best young talent in The Bahamas. Credit Suisse Group, Bahamas is offering
one (1) year Graduate Training Contracts to College of The Bahamas graduates
or graduates returning to The Bahamas from accredited colleges abroad.

The program will accommodate three (3) graduates. Successful applicants will be
awarded a one year contract of employment during which time the graduates will
rotate between or within different business units or departments of Credit Suisse
Group entities. Permanent employment opportunities will be evaluated at the end

of this period.
NDITIONS

. The candidate is required to have a Bachelors De
following or suitably similar disciplines:

Banking and Finance
Engineering
Mathematics

Finance

Economics
Economics & Finance
Management
Accounting

* Computer Information Systems

gree in one of the

2. The candidate must have graduated with a minimum grade point average of
3.5.

v

3. The candidate cannot be an immediate family member of a person employed

at the Bank.

BENEFITS

Competitive Salary; Health and Life Insurance



tion that most real estate bro-
kers thought would make the
difference, some saying it
would kickstart the somewhat
stagnant market.

“IT can think of one client
right now who could not afford
a certain condo she was look-
ing at yesterday, and with this
announcement, she can,” said
Mrs Pinder. “It was that close

and this will make the differ- .

ence. The average Bahamian
will now be better able to
afford a home.”
According to Mrs Hurlock,
the legislation will impact the
lower-end market and could
be just the trigger to move

someone from renting to own-

ing.

“The obvious result is that it .

benefits lower income fami-
lies, and could make the dif-
ference between continuing to
rent and deciding to buy right

See page 6B

ColinaImperial.

NOTPECE |




in New Providence, Freeport, Abaco and Exuma will be |
CLOSED on Friday 30 May 2008 4)
forthe companys Annual Fun Day. i

NOTICE

NOTICE is hereby given that WINIS LOUIDOR of
MARSH HARBOUR, ABACO, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship,
registration/naturalization as a citizen of. The

for
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 30th day of May 2008
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.






PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CROFTON WHITFIELD :
BEEN of #207 HUDSON ESTATE, Grand, Bahama,
Bahamas intend to change my name to CROFTON
WHITFIELD BAIN. If there are any objections to this change.
of name by Deed Poll, you may write such objections to
the Chief Passport Officer, RO.Box F-43536, Grand
Bahama, no later than thirty (30) days after the date
of publication of this notice.











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Sales & Full Service Department
~ Rosetta & Montgomery Streets

322-2188/9
Email: Geoffjones@comcast.net




©2008 CreativeRelations.net



You'll wonder how you ever got along without it.

zit
Bi








~~






ss

To our valued customers 4
Please note that ALL offices of Colinalmperial %

: - | Regular Saturday openings at the

pees Se
Sa i SF

23

es
Sms eS
ee See BSS

sou

=

Se
SS




21 Collins Avenue Pay Station will resume

_ Saturday 31 May 2008
| 8:30am - 12:30pm.
Weekday business hours resume at all branches on

Monday 2 June 2008.





oe AA
gs Colinalmperial.

insurance Lid.

WX
LAS SSSR

.
=iss
PAGE 4B, FRIDAY, MAY 30, 2008

THE TRIBUNE



a a SS ae
‘Major underestimate’ on $129m Stamp collection

FROM page 1B

gained from property transac-
tions worth more than
$250,000 was just bringing the
category "into line with what
has happened so far this year".

He added: "It is not to
reflect any projected increase,
just to bring it to the level of
what it should have been in
the first place. The $98 mil-
lion was really an underesti-
mate, and it was inadequate
in terms of forecasting. There
ought to have been a higher
level."

The more than $51 million
increase in Stamp Duty
payable on the high-value
property deals is, on the face
of it at least, the single largest
revenue line item increase in
the 2008-2009 Budget.

Other revenue items seeing
a major increase, as foreshad-
owed by the Prime Minister
in his Budget address, were
bank and trust company
licence fees. These have more
than doubled, rising by 113
per cent to $25.6 million com-
pared to 2007-2008 estimates
of $12 million.

The Government thus
appears to have taken on
board the suggestions submit-
ted by Chamber of Commerce
president Dionisio D'Aguilar
in a Tribune Business article
written a week ago today, in
which he suggested raising
bank and trust company
licence fees.

The move, though, is unlike-

_ly to please Bahamas-based

banks and trust companies.
Meanwhile, Mr Laing con-
firmed that one consequence

Legal Notice

NOTICE



“The $98 million was really an
underestimate, and it was inadequate
in terms of forecasting. There ought
to have been a higher level.”



of the decision to amalgamate
customs and Stamp duties on
imports into one single rate
would be an increase in taxes
paid on baggage items by
Bahamians and residents
returning to this nation.
Previously, only customs
duties were paid on imports
brought into this nation in res-
idents' luggage/baggage when

they arrived at Bahamian air-

ports and sea ports. The first
$300 worth of goods was

Zhivargo Laing

exempt. However, both cus-
toms and stamp duties were
paid by companies on bulk
freight shipments.

Amalgamating the two into
one, or switching imports into
an Excise Tax regime, from
July 1, 2008, onwards. means
that taxes paid on baggage
items by Bahamas residents
will increase, as they are
aligned with the freight
regime.

This is unlikely to please

consumers, but Mr Laing said:
"T think there now is provi-
sion for that to happen. There
was really a discrepancy in the
policy that applied, and
because of the amalgamation
there is a single regime cov-
ering all ports of entry."

On the revenue side, the
Government's Budget large-
ly consists of moving funds
from one line item into anoth-
er, with the new Excise Tax -
projected to generate $234
million in the 2008-2009 fiscal
year - absorbing the $131.302
million drop from the elimi-
nation of Stamp Duty on
imports.

The $77.444 million decline
in import duties is largely from
items such as vehicles and fuel
being moved under this Excise
Tax.

. However, gaming taxes,
which are levied at a basic rate
plus a percentage of the win-
nings on the Bahamas' four
casinos - at Atlantis, the Crys-
tal Palace, Emerald Bay and
Isle of Capri's Our Lucaya

property - are projected to
drop by 45.6 per cent, falling
from 2007-2008 estimates of
$28.5 million to $15.5 million.
This is a fall of $13 million.

Mr Laing yesterday said the
gaming tax projections had
been dictated by the overall _
state of the Bahamian and
global economies.

He added: "The judgment
is that we-will not get as much
revenue as we ought to get.
It's always better to be con-
servative than overly opti-
mistic. "

"The casino in Freeport is
not one we expect to gain a
great deal of revenue from, as
there are circumstances per-
taining to that casino as well."

Mr Laing added that the
Stamp Duty exemptions
announced for homeowners
purchasing lots, new houses,
existing houses or properties
for renovations to serve as
their primary residences,
would apply to first-time buy-
ers whose properties were val-
ued at less than $500,000.

FORTUNE VALLEY INC.



Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of FORTUNE VALLEY INC. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

- ARGOSA CORP. INC.
(Liquidator)



_ Legal Notice

NOTICE

- AUREX SLOPES INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of AUREX SLOPES INC. has been com-
pleted; a Certificate of Dissolution has been issued and the
Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

PEMANCHA HEIGHTS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of PEMANCHA HEIGHTS INC. has
been completed; a Certificate of Dissolution has been is-
sued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
CENTRAL PRIME
PARTNERS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of CENTRAL PRIME PARTNERS INC.
has been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off. the
Register.

ARGOSA CORP. INC.
(Liquidator)





GRAHAM, THOMPSON & Co.

COUNSEL & ATTORNEYS-AT-LAW * NOTARIES PUBLIC |

WILL BE CLOSED
FRIDAY, MAY 30, 2008
For Our
ANNUAL FUN DAY

Nassau Chambers

Sassoon House
Shirley Street & Vctoria Avenue
P.O. Box N-272 °
Nassau, New Providence,
The Bahamas
Tel: (242) 322-4130
Fax: (242) 328-1069

Freeport Chambers
The First Commercial Centre
3rd Floor, Suite 9
P.O. Box F-42451
Freeport, Grand Bahama, .

The Bahamas
Tel: (242) 351-7474
Fax: (242) 351-7752

Legal Notice

NOTICE

LIBERTY CRUSADE LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of LIBERTY CRUSADE LTD. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

WANTED

Applications for the position of

ASSISTANT MANAGER
FOR A RETAIL STORE



Experience in managing people
Must have excellent organizational skills,
excellent customer service and sales skills

Please mail
Resume and photograph to:

Assistant Manager Position,
P.O. Box N-523,
Nassau, Bahamas

Legal Notice

NOTICE

BERGERONETTE LIMITED ©
¢

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BERGERONETTE LIMITED has
been completed; a Certificate of Dissolution has been is-

! sued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

FINAL NOTICE
IN THE MATTER OF
ALSTOM POWER ESPANA
BAHAMAS LIMITED

(In Voluntary Liquidation)
AND
IN THE MATTER OF THE COMPANIES ACT 1992

FINAL NOTICE is hereby given that in accordance with
The Companies Act 1992, ALSTOM POWER ESPANA
BAHAMAS LIMITED was dissolved on 15th February,
2006.

ARGUS ADVISORS
First Commercial Centre
Second Floor, Suite #1
Freeport, Bahamas
Liquidator

CUSTOMER RELATIONS OFFICER

A leading PI. resort is seeking a qualified
Customer Relations Officer. The ideal candidate would
possess a four years business degree, have five years
experience and the ability to fluently speak a second
language (preferably French). Candidate must have
computer skills and be able to travel extensively to
other corporate facilities. Serious inquiries only.
















Interested persons should submit by May 31st, 2008 a
detailed resume and reference letter to:
pellis@clublandor.com or mail to:

Club Land’Or
Paradise Island
P.O. Box 6429 SS
Nassau, Bahamas
THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 5B



Hybrid vehicle duty
reduction ‘meaningless’

FROM page 1B

has confirmed taking a deci-
sion yet.”

Mr Lowe explained that the
electrical batteries used by
hybrid vehicles, which switch
to an electrical engine from a
regular one when the vehicle
hits a certain speed, particu-
larly on freeways, “are com-
pletely different” to what the
Bahamas-based auto dealers
are used to dealing with.

In addition, Mr Lowe added
that Honda wanted to ensure
the Bahamian emergency ser-
vices were trained to deal with
accidents involving hybrid
vehicles.

He pointed out that hybrid
vehicles had electrical cables
running throughout their inte-
rior, and Honda feared that
rescue crews could electrocute
themselves if, when using the
‘Jaws of Life’, they cut
through one of these.

Then there is the price of
hybrid vehicles, Mr Lowe say-
ing that the duty reduction
announced by the Govern-
ment was likely to make little
difference to consumers in
terms of price.

On a Honda Civic, for
example, which normally costs
$27,000, imposing a 25 per
cent customs duty rate and 7
per cent Stamp Duty (32 per
cent) when the two are amal-
gamated, would give a price
of $35,640.

This compared to a top rate,
under the previous 65 per cent
plus 7 per cent Stamp Duty,
of $46,440.

While this translated into
savings of almost $11,000, Mr
Lowe said a hybrid was “still
very highly priced”.

He added: “There’s people
that have asked for them, but
when I tell them the cost, they
say ‘Never mind’.”

On the Government’s deci-
sion to place vehicles, which
are one of its main revenue
sources, under the Excise Tax
regime that is set to take effect
from July 1, 2008, Mr Lowe
said it would not have any
impact in terms of reduced tax
rates.

Combining import and
Stamp Duty into one, he
added, would reduce two line
items into one for auto dealers
and their customs brokers
when it came to dealing with

the Customs Department.
Mr Lowe, in his overall
assessment of the 2008-2009
Budget, said: “It sounds good.
It’s a good PR Budget.”
Referring to the Govern-
ment’s decision to eliminate
the 2 per cent Stamp Duty on
160 food products, Mr Lowe
questioned how much this
would reduce food prices by
and whether it make a signifi-
cant impact on Bahamian con-
sumers’ pocket books, given
that prices on many staples
had increased by 30 per cent

‘in many cases.

“Two per cent off the price
is nothing by the time the
product reaches the store
shelves,” Mr Lowe said.

“It’s a nice gesture. They’ve
taken some initiatives, and are
prepared to be helpful to the
average citizen.

“But at the end of the day
it’s not going to make much
difference.

“They’re increasing the
debt, increasing spending,
increasing the deficit and
decreasing taxes. That pretty
much sounds like a recipe for
disaster.”

$4m FINCO loan provision hints at mortgage concern

FROM page 1B

yesterday. Jan Knowles, spokesperson for Royal
Bank of Canada, which holds a majority 75 per cent
stake in FINCO, e-mailed to this newspaper the
chairman’s statement published in the newspapers
yesterday.

Questions submitted to Ms Knowles, including
whether the $3.943 million loan loss provision was a
one-time event, or if more were likely this year; the
percentage of FINCO’s total loans that were in non-
accrual; and the year-on-year increase in non-accru-
al loans, were not answered before press time last
night. FINCO said the increase in non-accrual loans
was “manageable” in the chairman’s statement,
adding that its capital ratios were strong and in
excess of minimum regulatory requirements.

Indeed, the loan loss provisions account for less
than | per cent of FINCO’s total mortgage loan
book of almost $650 million as at April 30, 2008.

FINCO is widely regarded as the market leader in
the Bahamian mortgage industry, and is therefore
likely to be more exposed than most to any sectot
downturn, as Bahamian consumers find it increas
ingly difficult to make repayments given soaring
energy and food costs.

Yet Bank of the Bahamas International, which is
also involved in mortgage lending, only increased its
net provision for loan losses by $609,364 in its 2008
third quarter. .

This has caused some analysts to raise questions.
The Tribune learnt yesterday, about FINCO’s over
all portfolio quality when it comes to some loans.

CTellatomelan Atxe levi bs
Nn Lela Every at ee

~ For
\
Z

RISOTTO’ *

\" 2 garlic cloves, pressed

“QUICK CORN”

1/4 teaspoon ground cumin

1 cup Mahatma® Valencia Rice

2 14 1/2-ounce cans low-salt chicken broth

1 10-ounce package frozen sweet corn

1/4 cup whipping cream or half and half

1 cup (packed) grated Monterey Jack cheese with jalapefios

Chopped fresh cilantro

jeavy medium saucepan over medium heat.

\ id garlic and cumin; sauté 1

A multi facetted communications/consulting company that is
currently undergoing market expansion wishes to employ
experienced commission sales executive. The ideal person
would have a minimum of three years in commission sales;
have their own private vehicle. We are looking for excellent
communicators that are driven: Candidates must have computer
skills and be able prepare public presentations on behalf of
companies clients.

g
ated through. Season to taste with salt and Pepper e with: ao cilantro.
s 4 to 6. : :

TL NUMBER ONE Goa | Ms 12 TC

Distributed by ASA H. PRITCHARD; LTD.
Robinson & Claridge Roads - Tel: 393-2437

A‘deégree in marketing or business is preferred but not a must.



Persons interested should submit CV’s and reference letters to:

DA#6282 r



P.O. Box N-3207
Nassau, Bahamas
by May 31, 2008.
JOB OPPORTUNITY
JOB TITLE: JUNIOR PROGRAMMER Colinalmperial
DEPARTMENT: INFORMATION TECHNOLOGY
Bahamas National Trust Position Summary:

The Batch Operator ensures that day end system processes are completed.

e
Summer Camp: sina
* Two or more years’ experience in AS/400 operations
Dry Places and Wet Spaces * Hands-on experience in batch, job processing, monitoring, back-ups

* Experience handling Windows technical issues

* Ability to function both independently and in a team environment
* Ability to manage multiple tasks at once

* ‘| year Programming Experience - Knowledge of COBAL an asset
* Excellent problem solving and troubleshooting skills

* Strong work ethic

* Strong desire to learn ,

Have your children participate in
fun learning in the Outdoors

Ages:

Daily Hours:

New Providence:
Venue:

Available spaces:
Grand Bahama:
Venue:

Available spaces:

* Good communication skills
8:30 am - 12:30 pm |
Responsibilities include but are not limited to:
July 21 - July 26 * Operating and maintenance functions for mid range systems;
' accordance with current service levels:
The Retreat, Village Road * Providing all aspects of media handling (backup media loading/unloading, dispatch/receipt of
35 (first come, first served basis) * Accurate and timely processing of information (including system utilities, production and testing
batch runs arid quality control) in and through computer systems;
The Rand Nature Centre, - * Safeguarding security of data center equipment, media and data files;
East Settler's Way : Keeping records of hardware down time;
35 (first come, first served basis) * Running system and application backups per written run log:
* Managing tape retention log;
Cost (per week): rh is ed ites at 7
. 9 ti tati allation tasks in 2 :
$100 (ANT meme = ean ea
: ‘ : and technical specifications:
For more information call: + Basic Programming:
352-5438 (Grand Bahama) * Participating in and directing, problem definition and problem resolution activities;
email: bnt@bnt.bs * Adapting to the Company’ s development environment and tool sets; and

5-12 * Flexible work schedule, 8pm-4am or 9pm-Sam
July 28 - August 2 * Monitoring overnight batch processing and performing print processing as scheduled in
offsite media, etc);
July 7- +t | * Maintaining current knowledge of operating procedures and standards;
Following procedures to run job requests from programmer and requester;
$150 (non BNT Members) * Accurately recording activity in daily log:
* _ Assisting in analyzing business processes In order to define application functional requirements
393-1317 (Nassau) * Writing Technical Specification Documents;
* Learning different technologies between various software packages for the movement of data.

Please apply in writing on or before 30 May 2008 to:

Richenda King

Vice President, Human Resources
#308 East Bay Street 4
P.O. Box N-4728 j
or email to: careers@colinaimperial.com /


PAGE 6B, FRIDAY, MAY 30, 2008

THE TRIBUNE







Share your news

The Tribune wants to hear from people who are
making news in their neighbourhoods. Perhaps you
afe raising funds for a good cause, campaigning for
improvements in the area or have won an award.

If so, call us on 322-1986 and share your story.





cecereremrrrermeerirein

KINGS REALTY
MARKETING/ADVERTISING MANAGER

King’s Realty Limited is in search of a select individual to join
our team.

POSITION SUMMARY:

Candidate will be responsible for the day to day marketing of
the company including but not limited to Public
Relations/Marketing Events and preparation of. relative
Marketing Materials/Brochures. :



%

QUALIFICATIONS:

Minimum of a Bachelor’s Degree

Strong Marketing Strategies

Knowledge and Experience in Website Design
Thorough working knowledge of programs such as
Microsoft Publisher, Adobe Illustrator, InDesign,
Photoshop and other relative software

Strong interpersonal skills :

Interested persons should submit applications in writing to
P.O. Box N-10414, Nassau, Bahamas, Re: Marketing Position
or via e-mail to bahamas@kingsrealty.com

TEACHING VACANCIES

_ Temple Christian Elementary School
invites applications from qualified teachers
for the 2008-2009 school year for:

Art Teacher

(Grades |- 6)
Applicant must:
Bea born-again practicing Christian who

is willing to subscribe to the Statement of
Faith of Temple Christian Schools.

A.

Have an Associates and or Bachelor’s
peace in Education from a recognized
College or University in the area of
specialization. ;

Have a valid Teacher’s Certificate or
Diploma.

D. . Be willing to contribute to the school’s
extra curricular program.

Application must be made in writing with full

Curriculum Vitae, a recent coloured photograph

and three references should be sent to:

The Principal
Temple Chrisitan School
Collins Avenue
P.O.Box N-1566
Nassau, Bahamas




INDEX: WCLOSE 88c
"_WWW.BISXBAHAMAS.COM.

Previous Close Tod





Abaco Markets










11.80 11.50 Bahamas Property Fund
9.68 9.30 Bank of Bahamas 9.43
0.99 0.85 Benchmark 0.89
3.74 2.95 Bahamas Waste 3.60
2.70 1.30 Fidelity Bank 2.35
14.10 10.42 Cable Bahamas 14.03
3.15 2.10 Colina Holdings 2.87
8.50 4.80 Commonwealth Bank (S1) 7.22
7.22 3.32 Consolidated Water BDRs 4.04
3.00 2.20 Doctor's Hospital 2.95
8.00 6.02 Famguard - 8.00
13.01 12.50 Finco 12.50
14.75 12.30 FirstCaribbean 12.30
6.10 5.05 Focol (S) §.55
1.00 0.41 Freeport Concrete 0.41
8.00 6.79 ICD Utilities 6.79
12.50 8.60 J. S. Johnson 12.00
10.00 10.00 Premier Real Estate 10.00
52wk-Low Symbol Bid $

14.60 14.25 Bahamas Supermarkets 14.60

8.00 6.00 Caribbean Crossings (Pref) 6.00

0.54 ND Holdings _ 0.35

41.00 41.00 ABDAB- 41.00

14.60 14.00 Bahamas Supermarkets 14.60

0.55. 0.40 RND Holdings 0.45
Ses Ce : oe 8 Se . BISX Listed

52wk-Hi 52wk-Low Fund Name NAV
1.3124 1.2443 Colina Bond Fund 1.312381****
3.0008 2.6629 Colina MSI Preferred Fund 2.989349****
1.3909 1.3410 Colina Money Market Fund 1.390896***
3.7969 3.2018 Fidelity Bahamas G & | Fund 3.6960*****
A909 4684 44 ER1AQ Cidalithy Drima Innama Cind AD ARRARER®

Developer pays

$7.5m for 50%

stake in Harbour Island property

FROM page 1B

sheer relaxation," said Chris
Maguire, Cypress Equities chief
executive. 2

“More importantly, Rock
House mirrors the exclusivity
and the ‘anything you ask for’
service at Royal Island, a 430-
acre private island residential
and resort community with 15
miles of coastline that we're
developing 30 minutes away by
water taxi.”

Mr Maguire said nothing will
change at Rock House. "We
see it as an elegant beachhead
to introduce the advantages of
owning a piece of a pristine
Bahamian island. Potential

owners can fly into North
Eleuthera International Air-
port, spend a night or two at
Rock House, immerse them-
selves in the spirit and style of
the local culture, boat over and
tour Royal Island, have lunch
or dinner, maybe overnight in
one of our villas and return to
Rock House,” he said.

“By partnering with Wallace
and Don, we can create a total
experience for the person who

wants a luxurious residential:

hideaway in a community on a
virtually untouched private
island with ocean views."

A small Royal Island sales
centre has been created just off
the lobby so that Rock House
guests can learn more about

Royal Island and the 83-room

* Montage Royal Island Bahamas

resort.

When complete, future Rock

House guests will enjoy its
restaurants, spa and beach club.
They will also have playing
privileges on the 18-hole Jack
Nicklaus Signature Golf
Course, with its 14 oceanfront
holes, tennis and dining.
‘ Royal Island homeowners
and their guests will also have
the Rock House services and
amenities available on day trips
to Harbour Island.

In addition, Royal Island will
have a 140-acre naturally pro-
tected deep-water yacht marina,
with 200 slips ranging from 50
to 400 feet, scheduled to open

in mid-2010.

Rock House was originally
built in the early 1940s as a bed-
and-breakfast on Harbour
Island.

The property was acquired in
July 2002 by Miami builder Mr
Tutt Ill, who created estate
homes for the late fashion
designer, Gianni Versace, and
the singer-actress Cher.

Mr Tutt combined the hotel
with the adjacent Catholic

School House, and reopened |,

the Rock House as a nine-room
casual yet elegant boutique
hotel and restaurant.

Rock House rates range from
$380 to $950 a night.







Colina Over-The-Counter Securities



Health and police certificates required.
Apply in person to:
_ Athena Cafe,
Bay / Charlotte Street
Tel: 326-1296 / 322- 8833

Legal Notice
NOTICE

SHU WING HOLDINGS LIMITED
NOTICE IS HEREBY GIVEN as follows:
(a) SHU WING HOLDINGS LIMITED is
in voluntary dissolution under the provisions

of Section 137(4) of the International Business
Companies Act 2000.

‘(b) The dissolution of the said company commenced on
the 30th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General.

- (c) The Liquidator of the said company is Mr. Michael
~ . Low of 1 Raffles Link# 05-02 Singapore 039393

Dated this 28th day of May, A.D. 2008

Mr. Michael Low
“Liquidator

NOTICE
KROY INVESTMENTS INC.

Pursuant to the Provisions of Section 138 (8) of the

International Business Companies Act 2000 notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant

to a Certificate of Dissolution issued by the Registrar

General on the 15th day of May, 2008.

‘Lynden Maycock
‘ Liquidator
i of
KROY INVESTMENTS INC.






FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES






















1.84
11.80
9.43
0.89
3.60
2.35
14.03
2.87
7.22
3.95
2.95
8.00
12.50
12.30
5.55
0.41
6.79
12.00
10.00






















Ask $ Last Price Weekly Vol. EPS $



15.60 14.60 1.160
6.25 6.00
0.40 _ 0.35




43.00 41.00 4.450
15.60 14.00 1.160
MutuatFunds
YTD% Last 12 Months
1.58% 5.47%
-0.38% 12.26%
1.15% 3.86%
-2.66% 16.13%

A Q70/ B79









Realtors: Budget
can spark sector.

FROM page 3B .

now, and that’s excellent,” said Mrs Hurlock. “We see a lot of » |
Bahamians who are buying land now in Exuma, hoping to build
later, and the stamp tax exemption could accelerate the con-*
struction. I’m just looking forward to seeing the details, but |
applaud the intent.”

“We deal with a lot of first time-home buyers and this defi-
nitely is needed,” said Messrs Lowe and Lunn. “If you want to.
stimulate the economy, this is a great starting point. We believe }
this should be reserved for Bahamians and we hope that is the
intent.”

Mrs Pinder said the exemption from stamp tax, which would
equate to mortgage mobility, could prove to be the most sig-
nificant aspect of the legislation.

“If people now want to consolidate their mortgage and car
loan to reduce monthly payments, they can do that without |

' incurring additional tax and that’s great news,” she said. 4

Mr Chaplin said one of the biggest surprises was that the
industry was taken by such surprise when the announcement
came.

“We have been proposing parts of this for so long, and when
it was finally announced we were as surprised as anyone, but
we’re definitely not complaining,” he said. “We will just look for
a bit of clarification about the Stamp Tax, whether it applies to:
buyers or sellers or both.” ;

HD INULU MTT

ANT TAH

Minimum of 2 yrs. experience

Must be a good communicator, team player, able to
multi-task. Posses excellent organizational skills,



good people skills & experience with Micrsoft
Word :
Email resumes to: BrightSmile@ yahoo.com

Legal Notice
NOTICE

DIBIA_ LIMITED

NOTICE IS HEREBY GIVEN as follows: °

(a) DIBIA LIMITED is in voluntary dissolution under
the provisions of Section 137(4) of the International
Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 28th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General. ss

(c) The Liquidator of the said company is Verduro

Associated Ltd. Road Town, Tortola, British
Virgin Islands

Dated this 30th day of May, A.D. 2008

Verduro Associated Ltd.
Liquidator



Legal Notice

NOTICE

BOLERO LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) BOLERO LIMITED is in voluntary dissolution
under the provisions of Section 137(4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 30th May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General.

(c) The Liquidator of the said company is Mr. Michael
Low of 1 Raffles Link #05-02 Singapore 039393

Dated this 28th day of May, A.D. 2008

Mr. Michael Low
Liquidator


THE TRIBUNE

FRIDAY, MAY 30, 2008, PAGE 7B







YOU/RE MY GIRL, LU ANN.

- [DON'T YOU KNOW THAT?4/ THOUGHT] TO HEAR /CONVINCE

BLONDIE.









BUMSTEAD, I ACTUALLY
ENJOYED YOUR REPORT!
DO YOU KNOW WHAT

No nv, not guns as toys! (7)

on

°
a

Y'ALL
HAVE BEEN
AGREAT ©
AUDIENCE !
T LOVE

TODAY,

THAT 1 FINALLY LOST ITW!
I'VE GONE BERSERK, BONKERS,

DEAR!

C2008 by Norm America Syndoate, lnc. World rights reserved.

I NEEDED \ WILLTHIS



WHACKO, CUCKOO, LOONEY

Lise

ED !

TUNE! I'M A TOTAL

| DETER ALES THATS PY
SWART. | TEACH. Js,
WKIDS.

[G20 by King Features Syrdioate, Ina. Word nights reserved,

| 7 CRYPTIC PUZZLE |

ACROSS

DOWN

1

Showing a decorum that’s up to the

Z)
©2008 by North America Syndicate, Inc. Workd rights reserved.



1 VONNO...
YOU LOOK



WE DO.--WE'RE
A POULTRY

FARM, DEAR!

ROUGHLY, HE PULLS HER
CLOSE AND... ~——

I CAN LIVE

WITH THAT!






IM CORRN...AN LEGAL
TRAINING BLOCKED OUT
EVERNTAING YoU SNIP

? |

BL a sale

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gz



ed

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il 'ywrw.kingfoaturos.com

















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“T DONT HAVTA PAY TAXES ‘CAUSE MY DAP
SAYS I’M HIS “LITTLE DEPENDENT.’ ”



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Hiv PAILYINK, Com



Famous Hand

East dealer, -
North-South vulnerable.
NORTH
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WEST EAST
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The bidding:
East South West North:
Pass 1& 3 & 3¢
5 & Pass Pass 5¢
Pass 5% Pass 6%

+. Opening lead — eight of clubs.
. In this deal from the 1997 world
team championship final between
. France and the United States, judg-
' ment rather than superior card play
or systemic bidding differences
played the key role in a substantial

gain for the French. °

The bidding shown occurred
when Bobby Wolff and Bob Ham-
man, for two decades one of the
world’s foremost pairs, were North-
South for the U.S., with Michel Per-
ron and Paul Chemla East-West for
France. Hamman’s opening club bid

was strong and artificial, and by the
time it was his next turn, the oppo-
nents were in five clubs. Hamman
elected to make a forcing pass,
whereupon Wolff rebid his dia-
monds.

Hamman now showed his tue
colors by bidding five hearts, and
Wolff was at the crossroads. He
knew that a cuebid of six clubs,
showing first-round control of clubs
and implying interest in a grand
slam, was the correct bid, but he
feared that if only a small slam could
be made, his cuebid might provoke
the opponents into taking a profitable
sacrifice at seven clubs. So he settled
for a raise to six hearts, figuring that
plus 1,430 or 1,460 was better than
setting seven clubs doubled four or
five tricks.

Wolff was correct in this regard,
since seven clubs doubled would
probably have. gone down five for
1,100 points. But the tactic did not
allow for the possibility that the
French pair at the other table might
bid and make seven hearts for a score
of 2,210.

Wolff's “less is more” strategy
did indeed backfire when Christian
Mari and Alain Levy reached the
grand slam despite similar interfer-
ence by Eric Rodwell and Jeff Meck-
stroth. The 750-point difference gave

the French a pickup of 13 IMPs, and”

virtually locked, up;the world title.

TARGET



: . Al - :
HOW many words of four letters or more can you
make from the letters shown here? In making a word,
each letter may be used once only. Each must contain

~ the centre letter and there must be at least one nine-

letter word. No plurals, or verb forms ending in “s”, no
words with initial capitals and no words with a
hyphen or apostrophe permitted. The first word of a
phrase is permitted (e.g. inkjet in inkjet printer).

TODAY’S TARGET

Good 15; very good 22; excellent 30 (or more).

Solution Monday.

YESTERDAY’S SOLUTION

aglet alder alee alert alerted alter altered dale
deal dealer dealt dele delegate delete delta eagle
eaglet earl elate elated elder gale geld glad glade
glare glared glee lade lager lard large late later
lead leader ledge ledger leer leered legate legatee
leger rale ratel real reel reeled regal regale
regaled relate related relegate RELEGATED tale

teal treadle










I







HOW AM I SUPPOSED TO
LEARN SURGERN IF T
CANT DISSECT ANNTHINS ?

°
g
t
a
i



SSmrt



FRIDAY,
MAY 30

AQUARIUS - Jan 21/Feb 18
You may not have as much energy as
you think, so slow down your pace.

« Steer clear of conversations about
politics or religion with family mem-
bers who have opposing views.

PISCES — Feb 19/Mar 20
Because Pisces tend to feel sorry for
themselves, they are often held back
from the good things in life. You
can’t improve your life if you’re
always drowning in sorrows. Many
good things could happen this week,
but you won’t be able to experience
them if you’re home sulking.

ARIES — Mar 21/Apr 20

Efforts to impress other people could
have disconcerting results. Don’t
expect favors from others now. A

. Telationship with a member of the

opposite sex could become serious.

TAURUS — Apr 21/May 21
Watch your temper this week. You may
end up driving someone away with one
of your sudden emotional outbursts.

GEMINI — May 22/Jun 21
This is not a very good week to pur-
chase secondhand items. They could
‘be of poor value. If you are looking
to make a purchase, shop around for
a few weeks, then decide.
CANCER - Jun 22/Jul-22

You will have an especially easy time
with teamwork and shared projects. A
lot will be accomplished.

LEO - Jul 23/Aug 23

, This will prove to be an exceptionally
| talkative week...even for you! It’s an

ideal time for exchanging views, mak-
ing deals and having heart-to-heart
conversations with those you love.

VIRGO - Aug 24/Sept 22

You may have recently been involved
in some activity that you don’t want to
become public knowledge. But your

‘secrecy may be noted by those close
to you and lead to difficult questions.

LIBRA - Sept 23/Oct 23

This week could easily start with
some family arguments connected
with leisure activities. Try to be
more decisive when it comes to
making plans with friends.

SCORPIO — Oct 24/Noy 22

You’ll have to try to be less straight:
forward than usual. There is a prob-
lem — something to do with a close
friend — and you could be involved.
It’s a situation that doesn’t call for
straight talk, so try to keep your

‘Opinions to yourself.





9 Dol take everybody in? Not required standard? (6) SAGITT: WM S—Noy 23/Dec 2 J
completely (9) a (6) Recent disagreements with family
; ee 2 Toffs dressed up at the time in )*6 | members should be resolved. You
13 With adhesive strips, try to get a fe ‘5 ;
J private life (8) : fi : ah
ct the wall (5) * : will find that tensions at home have
4 pati a pe lot of cash (5) ; Tae ave aa been alleviated.
15 Half want to yell “Loser!” (7) 4 Fled when let go, having been N CAPRICORN — Dec 22/Jan 20
16 Snip arag in shreds, to put in searched (9) S Make sure social activities don’t
the bin (7) 5 Switch on and we climb in conflict with your rigorous work
17 Happen to have our duplicate keys to with him (7) : a schedule. If you neglect your respon-
enter with (5) 6 Will have a bad dream about, it’s > sibilities, you could find yourself in
18 Iscutting back pansies running riot gathered (10) (7p) a a bad situation next week
in the garden (5) 7 One of the high-ups in the 20 Besides, lam through with her (5) entertainment world (4) mi} (| | fT me Ty fe
22 Definitely modish-the done : mn ef ck with a i BEEBE E Hs |
thing (6) @ old man's crazy ~ nuts! a a
23 Identify the one caught fish (6) 2 Bearing the name “Church” (6). Pe ey ed sl ee Le ee
25 Pushes hard, hopes it penetrates (7) 9 oe on the English, EHEEREREEEES |
2 Tediefmalecperte?) Wy Nar tnsetatldanin rte er mer
badly” (6) 24 Fight . yt one’s dues and to redress a E ee # ES 2 ee Matha Ravaceyicv Bent falseti
31 Stolen ingot smuggled through an ee a 2,6) Bugojno 1984. Today's puzzle shows
Australian port (6) 26 Not putting it on is modest (10) what is a simple tactic at
32 Best he it na smooth 28 Entrusted to, when unable to back ceria level. At his ne ‘i
consistency out of (9) ; — Denmark's Larsen was ranked wor
35 When speaking, Karl is impressive (5, J | 29 By month’s end, a third may be badly ACROSS 25. Onethousand DOWN 21 Dried number three after Bobby Fischer
j j : 8 Rich(7 illi 1 Anno 7 : 3 ‘
36 Havingtrained, plannedto(5) affected (4-3) 9 Rear ee (7) 7) continually (6) 24 grapes { and Boris Spassky, but his crushing
37 Takes a chance, though the royal skit 30 Arrive the day after, having had a consciousness g eesala ot 2 ei fo the type (11) 0-6 match defeat against Fischer
tej = 7H clert A sf
36 Pe 62) drop: it’s funny (6) 13 Webfooted 3 Permits(5) 3 Scapegoat © 26 + Wide-ranging, proved a psychological blow from
roblem that’s upsetting the cover 32 Giving money to me again for a mammal (5) idity (5 extensive (5-5) 3
girl (7) luxury commodity (8) 14 Dea at. ROOK } 4 Formergold 28 Complicated which he never fully recovered.
41 Anobsession ab 33 What's wrong with sin (5 35 Gangway (5) coin (3) in design {8} * Playing Black in the diagram, the
An obsession about j ng\ 15 Ultra(7) 36 Planet’spath(5) 5 Drive 29 Funeral always optimistic Larsen planned t
whatshisname? (5) having an affair? (6) 16 Former _ 37 Avoiding the backwards (7) ion {7} always optimis p 0
42 It’s extra small to fit inside 34 Father and kid performing in Pakistani issue (7) 6 Soft flu 30 Covort ier ‘ invade the white defences by Nb6,
Inspector (5) “Superman” (7) 7 ee 39° Unscrupulous 7 er 32 Looks for Red and Nc4. Can you spot White's
43 Checking on how it’s being 38 Provided food that was adequate for 18 Mother-of- opportunist (7) stake (4 (3) winrling two-move sequence which
ived (5,4 requirements? (6) atl (5 4 Stilf (5) 10 Stove {6} 33 Doleful (6) the elite grandmaster overlooked?
44 eer [ ited 40 Regard as the current fashionable 20 C suc (>) 42 Seat (5) 0 collection (7) 34 Right (7) :
nen ee image (4) shed (6) 43 Exact 2 Choose(6) 38 Mental
23 Purchased copy (9) 19 Lightweight, pictures :6}
(6) 44 Changed (7) anorak {7} 40 Fever (4) LEONARD BARDEN
‘CRYPTIC SOLUTIONS
EASY SOLUTIONS, a en
1 oes 4: Fewest 7, Cannibal 8, Oppose 10, Lobby 3, Root . ‘i ie suean ae salsa a: Fea aa tae 4
for Bitar sees arses", Boee Stat Sdn ttag pear Ow pean St utmet hoe Mahe th by Boe SO
DOWN 1, Scale 2, SN-ubs 3, Tidy 4, F-L-cor 5, Wept 6, s; s a + 5 o ath 4 12 :
12, Bas-Is 13, Re gui-ar 15 , Sister 9, PO- fi: oo 1, Egict 2,Green 3. Flat 4. Steel 5, Risk 6, Asylum 9, Salads 11, Rep 12. .
sineeie Ae aihone Sia Sapa” cme Le wee tas nae Strata Onc and dlack'spostionaknigh downs
: hopeless.
:
PAGE 8B, FRIDAY, MAY 30, 2008

THE TRIBUNE



$20m duty savings to bolster BEC’s position

@ By NEIL HARTNELL
Tribune Business Editor

The $20 million the
Bahamas Electricity Corpora-
tion (BEC) will save in annual
customs duty payments on its
fuel imports over the next two
years will help shore up its
own weak financial position,
a government minister yester-
day told The Tribune yester-
day.

Phenton Neymour, minister
of state for public utilities, said
the Government’s Budget ini-
tiative to exempt BEC from
paying 10 per cent customs
duty and 7 per cent Stamp
Duty on its fuel imports over
the next two fiscal years would
give the Corporation financial
breathing space to focus on
infrastructure projects and
develop alternative energy
sources.

Explaining that it was not
just BEC’s residential and
business customers who would
feel the benefit of the tax
exemption, Mr Neymour said:
“It will definitely assist BEC
with its financial position.

Draw takes p

* Minister says no increase in basic tariff rate, with impact from fuel
import savings to ‘most likely’ be felt by consumers in August

* Initiative gives BEC breathing space to focus on infrastructure devel-
opment and alternative energy, with Bahamas lagging behind region on

latter

“We took the position that it
would not be appropriate at
this point in time to pass on
some of these additional fuel
costs to the customer by
increasing BEC’s rates.

“This will definitely put
BEC in a stronger financial
position, so it can continue
with some of the development
plans it has.”

Mr Neymour, in previous
House of Assembly address-
es, had estimated that BEC
could lose $38 million during
the 2008-2009 Budget year.
The $20 million in customs
duty savings alone, then, could
cut that by more than half.

The minister yesterday con-
firmed there would be no
increase in BEC’s basic tariff
rate, even though the Govern-

BRS ge ST





“This will definitely put BEC
in a stronger financial posi-
tion, so it can continue with
some of the development

plans it has.”



Phenton Neymour

ment had said the Corporation
was losing $18 million per year
in revenues as a result of a rate
reduction brought in by the
former PLP government in
2004.

“There will not be any
increase in the basic rate at

eee

this time,” Mr Neymour told
The Tribune. “There was a tar-
iff study, and that study is still
being reviewed at BEC.”

The Government directly
targeted soaring energy costs
in the 2008-2009 Budget, given
that BEC’s fuel surcharge had

lace Friday, 6th June, 2008.

Spend $30 in fuels or $10 in the C-Store and you will get an entry form. Fill
out the entry form and drop it into the boxes provided for your chance to win
prizes for trips for 2 to one of five exciting destinations around the World.

increased by some two-thirds
of 66 per cent year-over-year
in February 2008.

Since then, the fuel sur-
charge has remained close to
February 2008 levels, although
inching slightly higher, at
between $0.16-$0.17 per kilo-
watt hours. The increase,
though, has further reduced
disposable incomes for
Bahamian families, especially
those in the lower income and
middle classes already strug-
gling to make ends meet, and
raised the operating costs for
all Bahamian businesses.

In his Budget statement,
Prime Minister Hubert Ingra-
ham said the Government’s
strategy would remove the
impact of the 7 per cent Stamp
Duty that BEC pays on its fuel





imports from consumer bills.

The fuel surcharge, he
added, currently includes the 7
per cent Stamp Duty, mean-
ing that BEC passes this
expense directly on to its con-
sumers.

Mr Neymour said Bahamian
households and businesses
were most likely to see the
Stamp Duty removed from
their BEC bills and the fuel
surcharge in August 2008,
although July remained a pos-
sibility.

He explained: “It is depen-
dent upon [BEC’s fuel] inven-
tory and the pricing, and so
the timing may vary, but we
anticipate some time, if we’re
lucky, in July, but some time in
August is looking more like-
ly.”

Mr Neymour said the Goy-
ernment would review the
effects of the two-year sus-
pension - and make a decision
on whether to extend it - when
that period was up.

He indicated, though, that
the move had given BEC a
welcome breathing space from
the increasing costs and finan-
cial pressures it has been feel-
ing. “It is giving us an oppor-
tunity to continue our efforts
in producing alternative ener-
gy sources, and co-ordinate
those with our National Ener-.
gy Policy,” Mr Neymour said.

He described formulation of
this policy as “progressing
well”, the committee charged
with developing it meeting reg-
ularly.

Mr Neymour said the com-
mittee’s recommendations had
already been incorporated into
the 2008-2009 Budget, indicat-
ing they were responsible for
the inclusion of “some of the
energy-saving items”.

To encourage energy effi-
ciency, the Government will
reduce import duties on ener-
gy-saving home appliances
from 35 per cent to 15 per
cent; lower the import duty
rates on energy-efficient win-
dows, low-flow shower heads
and low-flow toilets to 15 per
cent; and lower the import
duty on hybrid vehicles from
between 45-65 per cent to 25
per cent.

The importation of energy+
saving light bulbs, solar lamps,
batteries, converters and wind
engines will also become dut
free. On alternative energy,
Mr Neymour said: “The
Bahamas is somewhat behini
some of our other colleagu
in the region, and so we have a
lot of catching up to do. Wit
the team we have, we’ll mak
good progress.”








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