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Statement on Baha Mar Proceedings

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Nassau, 02 Jul 2015 – On Monday 29 June 2015, Baha Mar Ltd. and 14 affiliated companies involved in the Baha Mar Resort filed for Chapter 11 Bankruptcy in the Courts of Delaware, U.S.A. Baha Mar did this without prior notice to the Government of the Commonwealth of The Bahamas and related entities. And, we are advised that no advance notice was given to the China Export Import Bank (“EXIM Bank”), the China State Construction Company and numerous Bahamian employees and contractors.

Fourteen of the affiliated companies are incorporated and doing business in The Bahamas. They own, operate and have an interest in Bahamian assets and businesses, including much of the land comprising the Baha Mar resort.

As the public is aware, the Prime Minister, for the past several months and as recently as 26 June 2015, has been negotiating and communicating with the Developer and the EXIM Bank to ensure sufficient funding to enable the opening of the resort at the earliest possible opportunity.

The Government at all times will continue to act in the best interest of the Bahamian people. The successful completion and opening of Baha Mar is in the national interest and is a matter of national priority.

Of particular importance is that the nearly 2,400 Bahamian employees who have been prejudiced by this bankruptcy proceeding must be paid. Paying the employees without conditions attached would allow negotiation, hearing and resolution of other critically important issues determinative of the future of this project.

To this end, the Office of the Attorney General, on behalf of the Government of The Bahamas, yesterday wrote to the Developer of Baha Mar advising that it is the position of the Government that the Developer should pay the Bahamian employees. They should not be used as pawns in negotiations about the future of the project. The Developer was also advised that in the event that Baha Mar or the EXIM Bank was unable or unwilling to pay the workers, the Government will step in and make the payment for this month while negotiations continue.

The court documents in this matter were obtained by the Office of the Attorney General only yesterday, 1st July 2015. The team at the Office of the Attorney General and our international lawyers are carefully considering these documents and the issues that they raise. We are advised that the EXIM Bank, the Project’s largest creditor, has not been served with the documents.

The Government and the EXIM Bank today, believing that the Bahamian Supreme Court should hear from all parties with an interest in this matter, asked the Supreme Court to adjourn the Developer’s application for the Bahamian courts to recognize the Orders of the Delaware court. The Supreme Court ordered that the matter be adjourned to Tuesday 6th July 2015 at 10am; that the Attorney General and EXIM Bank be joined as Respondents; and that Baha Mar give the Attorney General the employee payment details so that the employees may be paid. The Hotel Corporation of The Bahamas stands ready to make the payments.

It is important that the public be made aware that the orders obtained unilaterally by the Baha Mar entities from the United States Bankruptcy Court in Delaware were obtained on the basis that matters profoundly affecting the Government and people of The Bahamas will be subject to adjudication in the United States. This would have serious and far-reaching implications for the Commonwealth of The Bahamas as a sovereign nation.

Completion and opening of the Baha Mar resort are matters of paramount importance to The Bahamas. The Government feels very strongly that resolution of the disputes that have delayed the project should occur in the Bahamas, subject to adjudication (to the extent that they cannot be resolved consensually) by Bahamian courts, consistent with the sovereignty of The Bahamas. The Office of the Attorney General and the Government’s international lawyers are therefore examining options that will ensure that the courts of The Bahamas are front and centre in this matter. This would not preclude ancillary orders being sought from foreign courts should such orders be needed – but as a matter of high constitutional principle and in the interests of national sovereignty, it cannot be the other way around.

The Government will continue to keep Bahamians advised of steps taken in this matter. Today for example, the Government has instructed the Department of Information Technology to provide the means by which there will be access to the publicly available court documents in this matter and briefings on court proceedings as and when they occur. This information will be housed on the website of the Office of the Attorney General.

In closing, I cannot say this strongly enough: the Government, led by the Prime Minister, will continue to do everything possible both through negotiations and lawful means to achieve the earliest possible completion of the project and its successful opening, in the national interest.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

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Haiti inflation increase, food prices more

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Rashaed Esson

Staff Writer 

 

#Haiti, November 27, 2023 –  Haiti’s food security is being worsened by recent inflation levels, according to the Haitian Institute of Statistics and Informatics (IHSI).

 

This comes as the institute informed that “a shape acceleration in inflation was recorded on a monthly basis” referring to the measurements for October.

 

It said the General Consumer Price Index (CPI, 100 in 2017–2018) went up by 3.4 percent in October of the year, compared to 2.3 percent in October.

 

Consequently, food prices between September and October increased by 4.8 percent, more than double normal prices, says ProEco Haiti, an economic consultant, as it informed it is concerned that this risks the worsening of the food situation in the country.

 

ProEco points out that this increase in prices is in the first month of the 2023-2024 fiscal year and is due to the closure of the land border between Haiti and the Dominican Republic, not to mention the fact that Luis Abinader, President of the Dominican Republic, unilaterally announced the complete closure of the border on September 15th, 2023.

 

Now, considering this, as ProEco expressed, the increase in prices is due to the border closing, as Haiti is dependent on the Dominican Republic. However, the economy consultant urges the public and private sectors to work to diversify the country’s commercial partners, reducing its dependence on the neighboring republic while mitigating the effects on its economy of possible crises between the two countries.

 

Furthermore, despite the fact that inflation increased in October, the IHSI revealed that there is not just bad news, as there is some level of progress for the republic as the deceleration of prices at an annual rate has been seen. It said inflation in October 2023 stood at 22.8 percent, the lowest reached since October 2021. Additionally, ProEco added to this fact, saying that annual inflation was 31.8 percent in September 2023.

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The Project IDEA Media Club programme returns for Part II

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Providenciales, Turks and Caicos Islands, October 30, 2023 – After launching in June 2023, the ambitious Project IDEA Media Club by the TCI Sports Commission is back for Part II.

Students in Part I of the programme, were afforded an opportunity to create a short film and a mini-documentary using industry-grade equipment and exposing themselves to a wealth of knowledge. Class segments offered were Filmmaking, Content Creation and Photography. Project IDEA members were immersed in the world of sports media, producing short-form video content for social media, photographing live games and utilising presenting skills. The short film ‘Ripple Effect’ is scheduled to premiere at the Turks and Caicos International Film Festival in November.

Project IDEA was created for high-school and university students or professionals aged 14-21 interested in photography, design or videography. At the end of the programme, all members will have created content to add to a design portfolio, which can be used for entry to university and prospective creative job roles.

In Part II, the class segments have been restructured to offer Journalism with Content Creation and Photography. The Journalism class will be producing a contemporary Sports News programme, also capturing activities in the wider communities. Project IDEA runs in 3-month batches, with classes every other week, giving ample time for learning and execution.

Applications are now open!
Application Portal Closes: November 18, 2023
Club Duration: November 22, 2023 – January 26, 2024 (Tuesdays and Wednesdays, 4:00 pm – 6:00 pm. Breaks for Christmas)

APPLY NOW: https://forms.office.com/r/cYE1TbzSX7 (In-person applications can be submitted at the Gustarvus Lightbourne Sports Complex)

For more information contact Media & Communications Specialist Nandina Hislop nehislop@gov.tc.

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90% of strokes are avoidable with a few lifestyle changes!

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Cleveland Clinic Expert Shares Six Simple Steps to Prevent Vast Majority of Strokes

 

 According to the World Stroke Organization (WSO), stroke is the leading cause of disability worldwide. The WSO says one in four people will have a stroke in their lifetimes, and each year over 12 million people worldwide have strokes. However, it adds that 90% of strokes are preventable by addressing a small number of risk factors that are responsible for most strokes. In The Bahamas, on average 224 people (or 9.56%) die annually from strokes.

Here, Andrew Russman, DO, Medical Director of Cleveland Clinic’s Comprehensive Stroke Center and a vascular neurology specialist, offers advice on how to reduce stroke risk by better managing existing health conditions and also through implementing lifestyle changes. “These tips are interrelated as most of the lifestyle changes mentioned also play a role in improving management of hypertension, high cholesterol and diabetes, which all increase stroke risk,” Dr. Russman points out.

  1. Reduce hypertension

                        Uncontrolled hypertension – that is, blood pressure that is consistently above 130/80 – is the single most important modifiable risk factor in stroke worldwide, says Dr. Russman.

                        Aside from medication, an important step in reducing blood pressure is to reduce salt intake, which Dr. Russman says is good advice even if you don’t have high blood pressure. “We recommend consuming no more than 2g of salt per day.  I advise my patients to check food labels and nutritional websites for sodium levels as their intake is usually far higher than they realize,” he adds.

  1. Be wary of diabetes

                        It is important to be tested for diabetes, and if diagnosed, to manage the condition well, says Dr. Russman. He explains that diabetes causes narrowing of small, medium and large blood vessels in the body, including vessels of the eyes, kidney, heart and brain. Owing to this, diabetes can contribute to a variety of vascular, cardiovascular and cerebrovascular problems including stroke. In addition, for patients who have survived a stroke, the risk of having a second is three times higher in those patients whose diabetes is not controlled.

                        Dr. Russman says that as part of their treatment plan, people with diabetes should have their condition monitored through HbA1C tests, which provide a three-month snapshot of their blood sugar control. “We recommend that these individuals aim for an HbA1C result of 7.0 or less. Taking prescribed medication correctly, watching their diet, exercising regularly, and following their healthcare provider’s recommendations will help them achieve this.”

  1. Address atrial fibrillation

                        The WSO says atrial fibrillation is associated with one in four strokes, and Dr. Russman says these strokes tend to be more severe and disabling than strokes associated with other risk factors.

                        “Atrial fibrillation is a heart rhythm condition characterized by very rapid heartbeats that don’t allow the top left chamber of the heart – the left atrium – to contract normally. Instead, it fibrillates and flutters so blood is not ejected normally from the chamber,” he says.  “Anytime blood is stagnant for too long, it can form a blood clot that can travel elsewhere in the body. This clot could cause a stroke by blocking a blood vessel in the brain, depriving that part of the brain of the oxygen and nutrients it needs.”

                        Dr. Russman says atrial fibrillation is the most common acquired heart rhythm disorder in older adults, and its associated risk is strongly related to age. “The older you are, the more at risk you are of acquiring the condition, but also the higher the risk of stroke associated with the condition,” he says. “It is estimated that up to half of all patients with a heart rhythm condition are not aware of it. However, once diagnosed, atrial fibrillation can be treated with a blood-thinning medication. These do carry some risks, but the benefits far outweigh these in the vast majority of patients.”

  1. Manage cholesterol levels

                        In addition to reducing high levels of low-density lipoprotein (LDL) or ‘bad’ cholesterol                         through diet, for example, by avoiding saturated fat, individuals might be prescribed statin medications that reduce future risk of heart attacks and strokes.  Dr. Russman says these medications, particularly rosuvastatin and atorvastatin, may benefit patients beyond simply reducing cholesterol levels in that they also appear to reduce inflammation and stabilize plaque build-up in blood vessels.

  1. Stop smoking

                        “Any type of smoking is associated with increased risk of cardiovascular disease and stroke, and is strongly associated with accelerated hardening of the arteries and narrowing of blood vessels in the brain, heart and elsewhere,” says Dr. Russman. “We therefore strongly recommend everyone completely stop any form of nicotine ingestion to significantly reduce their long-term risk for a multitude of diseases.”

  1. Adopt a healthy lifestyle

                        Dr. Russman recommends following an eating plan that is low in saturated fats and sodium, and to avoid alcohol and excessive caffeine consumption. Regular physical activity is also important as it can reduce the risk of stroke directly, but also indirectly as it helps to lower high blood pressure and blood sugar levels. Exercise can also help to reduce stress, as can other activities such as meditation or deep breathing, which is important as stress causes the body to release chemicals that can increase blood pressure, affect hormones and raise blood sugar levels, says Dr. Russman.

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