From: keeping-new-years-resolutions.com>>>

One of the appealing aspects of our traditional winter holidays is that they follow one another so closely. As soon as the whirlwind of Christmas, Hanukah, Kwanza or the winter solstice passes, it's time to make plans for ushering in the New Year.

The New Year is also a time for going with the cultural flow and coming up with one or more steadfast resolutions for self-improvement, fiscal prudence or better health. That's why people make New Year's resolutions. Where, you might wonder, did that tradition begin?

New Year's Traditions:
The history of New Year's resolutions spans more than two millennia. Historians report that the mythical Roman king Janus, from which we get the name of our first calendar month, was a two faced symbol—not because he was a hypocrite, but because he had the ability to look back on the past and look forward to the future. He also became known as the guardian of entrances and doors.

Romans began the celebration of the new year by seeking forgiveness from their enemies and giving one another gifts. This is where a vague line between Christmas and New Year's traditions becomes blurred. Christians changed New Year's Day to December 25th in the middle ages, so gift giving became a Christian tradition.

The start of the new year moved around a bit as various people changed the calendar to mark various events: the winter solstice, phases of the moon, the beginning of spring or a time of planting and sowing. In any case, it's a time of new beginnings for people around the world.

Gift giving is only one of the traditions that mark the beginning of the new year. Traditions range from eating black-eyed peas in the American south to eating lasagna in Sicily. The Spanish eat twelve grapes at midnight, while the Chinese give the front door a fresh coat of red paint.

New Year's Resolutions:
Making a resolution on New Year's Day is a time-honored tradition. Earlier celebrants went through elaborate rituals to chase away the ghosts of the past. While the Chinese used cymbals and fireworks, others used rites such as exorcisms and purifications. Ceremonies, involving bonfires, processions and parades often had masks that symbolized the dead.

The logic behind these traditions is that the demons of the past were eventually exorcized by denouncing past sins, bad habits and frailties. A clean slate would provide a release from the bonds of ill health or oppression.

While making New Year's resolutions is consistent with the history of closing the door on the past year and looking ahead to peace and prosperity, why do so many people make New Year's resolutions that are promptly broken, abandoned or forgotten?

The Modern History of New Year's Resolutions:
Like so many aspects of our culture, the making and keeping of resolutions has undergone study and analysis. Some sociologists enjoy tracking the evolution of modern resolutions and report that we tend to focus on making resolutions that involve improving our health: work out, quit smoking, lose weight . . . the list goes on.

Were these the same resolutions that our grandparents made? Hard to imagine Granny resolving to go work out at her gym three times a week . . . perhaps her resolution had more to do with sticking to a budget or eating less candy.

The modern history of New Year's resolutions is heavily scrutinized and psychologists offer many theories for the phenomenon of the broken resolution. They've found only one that people tend to stick to: stop making resolutions you know you won't keep!

From: BirthdayExpress>>>

Since people in different parts of the world use different calendars, the New Year is not always celebrated at the same time, nor in the same way. When different cultures created their calendars long ago, some based them on the movement of the moon, while others based them on the position of the sun. Some cultures based their calendar on qualities of both the sun and the moon.

As a result, the New Year is celebrated differently around the world, and people do not necessarily share the same traditional beliefs.

The New Year in Western Society:

New Year's Day is one of the world's oldest holidays, but it hasn't always been celebrated on January 1. It was first observed in ancient Babylon about 4000 years ago, around 2000 BC. Although they didn't follow a written calendar, Babylonians began celebrating the beginning of a new year on what is now March 23. Festivities lasted for eleven days, and different traditions were celebrated each day. They chose this time of year to celebrate the new year because it was springtime, when new crops were planted. It symbolized new growth and a time to look forward to the future - the same meaning that the new year holds for people today.

When the Romans came to power, they continued to observe the new year in March, in the springtime. However, the Roman calendar frequently changed based on the wishes of various emperors, and it eventually became unsynchronized with the sun. In an effort to restore a static calendar, the Roman senate declared January 1 as the official beginning of the new year in 153 B.C. Despite this law, emperors continued to tamper with the calendar for over a hundred years. It wasn't until 46 B.C., when Roman Dictator Julius Caesar created a new calendar, that January 1 was again recognized as the start of the new year. At this point, the calendar had been altered so much that Caesar was forced let the year drag on for 445 days in order to synchronize the calendar with the sun again.

As the Catholic Church expanded, it was strongly opposed to the celebration of the Roman's New Year, and denounced it as paganism. However, as Christianity became more widespread, the religious observances of the Catholic Church began to coincide with many of the pagan celebrations. On January 1, while the Romans celebrated the New Year, the Catholic Church worshipped what is still observed by some denominations today as the Feast of Christ's Circumcision. The Church continued to condemn the celebration of the New Year throughout the Middle Ages. In 1582, Pope Gregory XIII introduced a revision of Caesar's calendar, which a majority of the world now follows. Therefore, it wasn't until the late 1500s that January 1 became the official holiday celebrated by Western nations.

The modern New Year celebration prompts people to look back over the past year and forward to what the future may hold. One tradition, which dates back to the early Babylonians, is the declaration of New Year's resolutions. When people make resolutions, they choose something that will improve their lives, such as adopting an exercise program, or promising to quit smoking. Many people set aside New Year's Eve for parties, where they sing "Auld Lang Syne" and celebrate with a toast at midnight, when the New Year officially begins. On New Year's Day, many people watch football games, parades, and gather with family and friends. For many religions, it is also a holy day.

New Year Traditions Around the World:

The Chinese New Year is a lunar holiday that begins with the arrival of the second new moon following the winter solstice. It usually starts between mid-January and mid-February, (date varies) and lasts for fifteen days. As the New Year approaches, people clean their home to escape bad luck in the upcoming year. Families gather for a feast on New Year's Eve, and stay up late, believing that it will prolong the lives of their elders. The Chinese people believe that evil spirits come around at New Year, so they let off firecrackers to frighten them away. People often seal their windows and doors with paper to keep the evil spirits out, as well.

On New Year's Day, people dress in their best clothes and present one another with small gifts. Chinese people all over the world celebrate the first full moon with a colorful street procession, called the Festival of Lanterns. People fill the streets carrying lanterns and join a great parade led by an enormous dragon. The Festival of Lanterns is believed to light the way for the New Year.

Celebration of the Hindu New Year varies based on geographic location. Most Hindus live in India, but many have different traditions. For example, the Hindus of Gujarat, in western India, celebrate the New Year at the end of October, at the same time as the Indian festival of Diwali. For the Diwali celebration, small oil lights are lit all along the rooftops. In northern India, people wear flowers to celebrate the New Year, commonly in pink, red, purple, or white hues. Hindus in central India display orange flags, flying them from the top of buildings. In southern India, mothers put food, flowers, and small gifts on a special tray. On New Year's morning, children must keep their eyes shut until they have been led to the tray.

Celebration of the Japanese New Year occurs on January 1, as with Western nations. However, the Japanese people also observe some beliefs from their religion, called Shinto. For happiness and good luck, Japanese people hang a rope of straw across the front of their homes. They believe it keeps the evil spirits away. Japanese people begin to laugh the moment the New Year begins, so they will have good luck the whole year.

The Jewish New Year is called Rosh Hashanah, and falls in the seventh month, or Tishri, of the Jewish calendar (September - October). Rosh Hashanah is a holy time when people reflect on the things they have done wrong in the past, so they can improve in the future. Celebration of the New Year begins at sunset the day before, and religious services are held at synagogues in observation. An instrument called a Shofar, made from a ram's horn, is traditionally played and children are given new clothes to celebrate the New Year. In addition, New Year loaves are baked and fruit is eaten to remind people of harvest time.

The Muslim New Year falls eleven days earlier than the previous year because the Muslim calendar is based on the movements of the moon. In Iran, people celebrate the New Year in March. As the New Year approaches, Muslims set grains of wheat or barley in small dishes and sprinkle them with water. When the New Year arrives, the growth of the sprouted grains reminds people of spring and a new year of life.

The Vietnamese New Year is called Tet Nguyen Dan, or Tet for short. The exact date changes from year to year, but it usually falls between January 21 and February 19. A common Vietnamese belief is that the first person to enter a house at New Year will bring either good or bad luck. The Vietnamese also believe that there is a god in every home who travels to heaven at the New Year. In heaven, this god will reveal how good or bad each member of the family has been in the past year. Thus, the New Year is a time to reflect on the past and improve in the future. A traditional Vietnamese belief is that the god travels to heaven on the back of a fish, called a carp.

Even today some people will buy a live carp, and then free it in a river or pond.

By Vernon C. Jones, Guardian Staff>>>
Nassau, Bahamas:
Vernon@nasguard.com

Wendy Craigg

Governor of the Central Bank of The Bahamas:

There is convincing evidence in support of the Bahamian economy being on course to achieve the 4.0 per cent growth rate forecast by the IMF in its most recent World Economic Outlook.

We have experienced an elevated level of private sector demand, which has provided opportunities for a 2.6 per cent reduction in the unemployment rate; and, despite the oil price hikes, growth is being achieved in a low inflationary environment. The 12 month to November change in the CPI moderated to 1.74 per cent from 2.01 per cent last year.

For the Central Bank, the evolution of credit is always closely monitored given the implication for external reserves. Since the removal of the credit restrictions in August 2004, we have observed a strongly expansionary trend in credit—with growth of 11.8 per cent for the first ten months of 2006 building upon the 9.1 per cent for 2005. Growth in mortgages, which helped to sustain employment in the construction sector, has been maintained around 14.4per cent and consumers have taken on additional debt of around $193.4 million or an increase of 11.7per cent, which we do not view as a sustainable position. There is a strong appetite in The Bahamas for consumer credit, and clearly a need to encourage individuals to save more towards their purchases. Banks have been asked to play a more active role in this effort, particularly by way of their promotional initiatives.

As a result of the strong credit growth, the higher oil payments and several extraordinary outflows, much of the liquidity overhang accumulated through to 2005 and the first half of 2006 has been absorbed, and this reduction has been reflected in a lower level of external reserves.

Going into 2007, we could expect to see some slowing in credit growth given the reduced level of system liquidity. The Central Bank's main concern will be to ensure the orderly growth in credit—that the rate of credit expansion does not exert undue pressure on external reserves. However, we expect liquidity conditions to improve somewhat as we move into the traditional peak of the tourism season, and these flows are complemented in a more substantial way by inflows linked to the start up of some of the foreign investment projects in the pipeline.

James Smith

Minister of State for Finance:

The outlook for 2007 is quite good. GDP is expected to rise 4 to 5 per cent, in line with expectations of the IMF and other international organizations. What we are seeing now is the challenge of how to maintain that growth. Looking at the recent past we have lost foreign reserves because of increases in oil prices, a surge in credit spending growth and large capital acquisitions by Bahamian interests (such as the FOCOL and CARIBCO deals) that further exacerbated depletion of the foreign reserves.

What we need to maintain growth and build the reserves are the inflows from the (resort) anchor projects.

Those are really the challenges over the next 12 months.

PAUL McWEENEY

Managing Director of Bank of The Bahamas:

I'm looking forward to a positive year.

I'm optimistic that in the first quarter we should see some signs of significant improvement in liquidity. Obviously that really is one of the anchors of having a solid financial fiscal period. I feel that the GDP (Gross Domestic Product) growth for the country may be between three and four per cent.

Because it's an election year in any event, there tends to be more economic activity taking place in the short term. I'm looking forward to a pretty strong year, especially if they can get the Royal Oasis Resort transaction in Grand Bahama completed. Obviously that would do a great deal to boost the economy of Grand Bahama which is lagging. This is probably the one island with financial indicators that many weigh down the overall progress of the country. But the government is putting a lot of effort into making that transaction a reality over there, which could decrease unemployment figures.

Vincent Peet

Minister of Financial Services and Investments:

I think 2007 should be a very prosperous year for the Bahamian economy building on the strength of 2006. The fact is that investment is at an all-time high with very strong projections for 2007; the fact is we have before our ministry applications for investment amounting to over $20 billion and that the start-ups, and others in various stages of development, total over $9 billion. Those are basically the facts.

For 2007 the government's major thrust will be to continue growing Bahamian domestic investment so Bahamians can benefit more directly from foreign investment. To that end, there will be an aggressive campaign (encouraging) investment opportunities between Bahamians and foreign investors, led by the Domestic Investment Board answering to our ministry, Financial Services. The challenge is how do we find qualified Bahamians to meet the demand for skilled employees. Employee training programs set up by developers should help create qualified employees.

Bahamians must own their own piece of the rock and the government will facilitate that.

Montgomery Braithwaite

President

ColinaImperial Insurance:

There are a lot of development projects on the table or in the pipeline. No one knows for sure when exactly the projects will come to fruition and that will decide how 2007 shapes up. We at ColinaImperial will be curious to see when they will materialize. They will create new jobs and we look forward to servicing their insurance needs. We are always happy to see growth in employment.

If NIH is not introduced in a gradual way then I don't think the insurance industry will be able to adjust.

Jan Mezulanik

Chairman - Association of International Banks and Trusts:

We need not be reminded that the Wealth Management industry is global and highly competitive. With 2007 being an election year in the Bahamas, we trust that the government will continue to maintain focus on the development of our industry and business at hand.

Responsiveness to addressing the perception of the jurisdiction, as identified in the Bahamas Branding Survey, is fundamental and we must move towards proactively identifying the business of the future and a strategy for sustained growth.

JOHN CHRISTIE

Vice President of H.G. Christie Ltd:

I think that the real estate business is going pretty good at the moment and I think we expect growth to continue into the new year. The international market is driving real estate, and if that continues to do well, then the local economy will continue to do well. I don't really foresee any challenges going into the new year based on the performance of the economy right now. We are also looking for a lot of new developments to come online, so we anticipate even more business for the industry next year.

TANYA WRIGHT

President of The Bahamas Chamber of Commerce:

From the point-of-view of the Chamber, we want to see a safer business environment across the board. We ended this year with a focus on crime prevention and a number of global issues such as trade.

But next year we will focus more on the micro economic business sector, which contributes some 60 per cent to GDP (Gross Domestic Product). Crime is perhaps the most significant factor impacting businesses in The Bahamas, and all aspects of crime affect how business is done.

We think that the businesses that operate in a crime sensitive environment will see more consumer confidence, which should translate into better business in 2007. Businesses that invest in security systems will get the jump on the market. But businesses that do not have a serious focus on crime deterrence may find themselves targeted. This could also affect consumers that patronize those businesses, especially those who use credit cards.

The message going into the new year is to conduct safe business. We think more businesses will take a more proactive approach to mitigating themselves from criminal activity in 2007.

PAUL MOSS

Managing Director of Dominion Management Services Ltd:

We need to have more ownership of the financial services industry by Bahamians. This is an industry that is really dominated by international players. We need to look at that.

If we look at banks in this country in particular, we see that besides Commonwealth Bank and Bank of The Bahamas, there is no other bank that is Bahamian owned. Something seems to be wrong with that. You go to any other country, and they certainly seem to have ownership of those particular types of institutions. Unless you have a strong base in banking you are not going to have any industry, and that is where I think the focus ought to be. This is not something that is high on the financial services agenda, but it should be.

We need to really find a way to make ownership and stake holder interests in this economy protected by Bahamians.

Patricia Hermanns

President of Famguard Corp:

The implementation of the (National Health Insurance Plan) will bring with it a significant change in the type of health service products offered in the industry. We will respond by providing new services or shifting existing services in order to broaden health care beyond what NIH will permit.

There are, of course, concerns about the lack of liquidity in the market and Bahamians saving for retirement and "rainy days". Pension funds will reach a (collective) $1 billion by next year. The increased role of pension products will increase income stability for retirement.

There is a need for Bahamians to start thinking about their futures, to focus on retirement and pension savings.

I'm optimist about 2007. We're looking forward to continued growth in 2007 and waiting for more information on NIH. There hasn't been enough detail yet. With that information we'll be in a better position to evaluate it.

Larry Wilson

Chief Financial Officer

RBC Royal Bank of Canada and RBC FINCO:

Basically 2006 was an exceptional year for the financial sector. We have good jumping off point for 2007. The development projects lay a good foundation for 2007 and future growth of the economy.

One concern is there is simply is no money in the system. We have a liquidity problem. With the Christmas season coming to an end and merchants hopefully now putting money back ino the system and with foreign investors hopefully bringing some money in the country, we can get that in order. Barring any natural or man-made disasters.

KEITH DAVIES

Chief Executive Officer of Bahamas International Stock Exchange (BISX):

Our outlook is positive. The formalization of the government debt market is our major focus for 2007 and the implementation of that platform would allow us to do a number of other things.

We are trying to be more innovative in the area of mutual funds. One of the things we have determined is that the funds industry needs new and innovative ideas to propel it forward. What the exchange wants to do is to provide a boost in any way we can to facilitate drawing business to boost the funds industry. In the past that has not really been an area of growth for us.

We also expect to have a number of new listings. We are focusing on three different [traunches] relative to the development of the international trading platform. We are positive that one of those three will pay dividends for us in the future.

The overriding concern we have had has been in the area of education. For us the challenge is getting individuals to understand that investing is a component of saving. We need to become net savers instead of net spenders, and we are net spenders as a country. In order to foster the growth and development of capital markets, we need to understand that long-term investing will have a better impact. We will address that challenge moving into the new year.

From The Eneas Files>>>:

Nassau, Bahamas -

This has been relatively good year for Bahamians and The Bahamas. One of the reasons is due to the fact that the hurricane season was kind to us. We were spared nature’s wrath this year. Hurricanes not only wreak structural damages but also financial damages.

Most homes in The Bahamas are constructed through mortgagers. With a mortgage, there is the requirement of hurricane insurance which, in recent years, has skyrocketed to astronomical levels making it almost unaffordable for some people. Since there were no hurricanes, hopefully there should be a drop or decrease on premiums in 2007.

On the other hand, the Bahamian consumer saw an escalation in energy charges across the board, particularly in electricity rates, cooking gas, automobile gas, diesel and jet fuel. The Bahamas is a highly developed archipelago and just about every household is affected by electricity rates and the surcharges which accompany it and fuel for cooking.

As a mobile society, gas prices impact everyone as well, because people have to get to work, children have to get to school and, even though shopping has been decentralized, people still have to get from point A to B.

Everything we use in this country is imported. Freight rates have soared as a result of fuel charges and this has pushed up the commodity prices and caused an increase in the overall cost of living. This has resulted in everyday items becoming more and more expensive. This is particularly true with foodstuffs.

We are feeling the pinch in food prices, even in products, which we have the capacity to grow. During 70s and 80s, one could obtain a bushel of tomatoes between $2 to $3.00; today a pound of tomatoes could cost you as much as $5. Many people can remember when a dozen pineapples could be purchased for $10 or $12; today, one pineapple could cost you $5. The same pricing scenario exists for oranges, bananas, limes, peppers and a range of fruits and vegetables. We have lost our production capacity and, in the long run, this will come back to haunt us.

The Bahamas is now an urban society with 85% of the residents in this archipelago living either in Nassau or Freeport. With Freeport experiencing problems with its economy, more and more Bahamans have flocked to Nassau. With the Grand Bahama Port Authority having ownership problems, it could be awhile before Freeport and Grand Bahama get on track to sustainable economic development and growth.

These are just a few of elements, which have influenced our year. Recently, the Prime Minister indicated that The Bahamas was heading for full employment. If this happens, this will be a tremendous undertaking. There is, however, another side to this full employment issue and it is there will also be immigrant labour, some of which will be illegal. There is a demand for construction manpower which cannot be met by Bahamians. This will mean an inflow of foreigners.

Come January, election fever will hit the air as all of the political parties will swing into the campaign mode and from January to election day the national tempo will be one of excitement.

8 December 2006

© Debbie DeSpirt>>> The origin of Boxing Day was to remove all boxes from the home after Christmas Day. True or False?
FALSE. It was created to give thanks and assist the less fortunate in the community. What is Boxing Day? Boxing Day is a day the higher classes gave gifts to the lower classes. Before or on December 25th people of similar class would exchange gifts to celebrate the Christmas season. Gifts were not exchanged with the lower class until the next day called Boxing Day. It is also known as St. Stephen’s Day. Why is the holiday named Boxing Day? The holiday is named Boxing Day because the tradition of giving gifts of cash, food, clothing and other goods to the less fortunate were placed into boxes for easier transportation. The goods were distributed based on the family needs and their services to the giver. Who celebrates Boxing Day? Canada, Australia, New Zealand, Britain, and other Commonwealth Countries celebrate Boxing Day on December 26th. Purpose of Teaching the Origin and History of Boxing Day Boxing Day officially began in England in the middle of the 19 century under the rule of Queen Victoria. However, many adults and children do not know the true meaning of Boxing Day and its reasons for celebrating. It was a day to thank the community for all their effort throughout the years. The maids, drivers and other service workers were thanked with gifts of food, money, clothing, and other goods. It is important to teach students how they can contribute to society and to understand not all families are able to provide for their families all of the time. As well, the discussion on the origin and history of Boxing Day can open dialogue about less fortunate individuals in the community and how the students can make a difference. Students may do a viable proposal on how their class or a group of students can provide a service or gift to other families or students in the community who are less fortunate. Lastly, Americans do not celebrate Boxing Day but the slaves were given their goods on December 26th for the Masters to show their appreciation. Most slaves were given a few days off to celebrate the holiday season with their families. This is a great discussion on how the season of Christmas brought all class levels together and for a quick moment. Students could write a report on how they would feel celebrating Christmas with their Masters and why Masters even bothered to share the holiday season with their slaves. Allow the dialogue on Boxing Day open other discussions on students feeling singled out or less fortunate than other students in the school or community.