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Sterling Bank & Trust announces appointment of Canada former Premier Michael Harris as Director

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Nassau, Bahamas, January 3, 2017Sterling Bank & Trust has announced the appointment of former Ontario Premier Michael Harris as a director of the integrated banking and financial services firm specializing in development and real estate-related investment vehicles. The new appointment increases the role Mr. Harris will play in helping to set policy direction for the growing award-winning firm with more than $9 billion in assets under administration and offices in Nassau, Bahamas and The Cayman Islands.   

Mr. Harris, who also serves as director on other boards of Sterling, was recently named Canada’s number one premier since 1981, topping a field of 80, including four sitting premiers.  The honour was based on leadership, economic policies and organizational skills with votes tallied on actual results in job growth, balanced budgets and business investment.

“Mike has been an excellent director in his previous roles, showing the leadership skills, discipline, wisdom and insight that made him so well-liked as well as highly respected when he was premier of a region with a population of over 13 million,” said David Kosoy, Sterling Chairman and CEO. “We are pleased that he has agreed to expand the position he will play going forward as Sterling Bank & Trust continues to recognize promising opportunities for growth on behalf of our more than 1500 high net worth clients.”

Mr. Harris, the former Member of Provincial Parliament and Premier, currently serves as a senior business advisor in the Corporate/Commercial and Government Relations & Ethics Groups at the Law Firm of Fasken Martineau in Toronto, Ontario. He holds numerous directorships or advisory positions in the health and financial sectors with Canadian-based companies, some with a global reach such as Colliers International, and his counsel is often sought for his advice on governance and government relations.

According to Stephen Tiller, Sterling Global Financial President, and a strong supporter of community programs, Harris is also a good fit for the firm’s quiet commitment to philanthropic causes, particularly for the underprivileged or underserved.

“Mike Harris’s passion for the community is shown through his involvement with various organizations and institutions.   He is a former Director of the Tim Horton Children’s Foundation and St. John’s Rehab Hospital and currently holds the position of Senior Fellow with The Fraser Institute and Director of New Haven Learning Centre,”  said Tiller.   “Mike is also the Honorary Chairman of fundraising initiatives for Nipissing University, Canadore College and North Bay Regional Health Centre.”

Sterling Global Financial is the corporate umbrella of Sterling Bank (Bahamas) Ltd., Sterling Trust (Cayman) Ltd., and several funds, including the multiple award-winning Sterling Mortgage Income Fund, two-time winner of AI Barclay’s Best Hedge Fund Since Inception Award.   Among the fund’s current projects are Ocean Terraces, West Bay Street, Marriott Courtyard, downtown Nassau, THIRTY SIX, the first new condo development on Paradise Island in a decade and Beach House Villas, Paradise Island.   In 2016, the fund also provided financing for land assembly for a major multi-use redevelopment in an iconic section of South Boston.  

 

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ELECTRICITY BILL SHOCKER: PELICAN ENERGY WARNED GOV’T

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TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response

PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.

Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.

That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.

Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.

He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.

Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.

Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.

Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.

Saunders did not disclose the programme’s total cost.

His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?

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Bahamas News

More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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47,459 MEASLES CASES, 44 DEATHS ACROSS AMERICAS  

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WASHINGTON, D.C. — The Americas has recorded 47,459 confirmed measles cases and 44 deaths in 2026, the region’s highest case count in 22 years, prompting the Pan American Health Organization (PAHO) to urge stronger vaccination, surveillance and rapid outbreak response.

As of July 18, cases were already more than triple the 15,011 recorded during all of 2025. Guatemala, Mexico, the United States and Peru account for 95% of confirmed cases. Guatemala leads with 30,371 cases and 26 deaths, followed by Mexico with 12,255 cases and 17 deaths.

PAHO classifies the regional public health risk as very high, citing active outbreaks, immunity gaps, international travel and populations with inadequate vaccination coverage.

The organization says prevention starts with vaccination. Countries are being urged to achieve and maintain at least 95% coverage with two doses of measles-containing vaccine, particularly protecting children and under-vaccinated communities.

Measles spreads through the air when an infected person breathes, coughs or sneezes. Symptoms can include fever, cough, runny nose, red eyes and a rash.

PAHO is urging health authorities to detect suspected cases early and respond rapidly to stop transmission. Unvaccinated and under-vaccinated people, young children and communities with limited healthcare access face increased risk of severe illness and death.

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