US providing funds to address climate and biodiversity threats
The United States is providing US$15.8 million in funding to address climate and biodiversity threats in the Caribbean.
US Ambassador to the United Nations, Linda Thomas-Greenfield, who is leading a US delegation to the ongoing 46th regular meeting of Caribbean Community (CARICOM) leaders here, said that the funds are part of the US$43 million in United States Agency for International Development (USAID) funding for climate adaptation and resilience in the Caribbean.
Washington said that the new funding builds on the strong partnership between the United States and CARICOM and that the new funding protects marine biodiversity and builds climate resilience in the Caribbean
USAID will provide US$5.8 million to reduce threats to coastal-marine biodiversity and build the resilience of coastal communities in the Caribbean to mitigate the negative impacts of climate change.
The program will focus on preserving endangered ecosystems and species such as mangroves and coral reefs, as well as communities of sharks, rays, marine turtles, and more. The work will also enhance climate resilience and the well-being of local communities including women, youth, persons with disabilities, LGBTQ, and indigenous people.
Washington is also providing an initial US$10 million funding to strengthen water security in Haiti.
It said this support will help institutions plan for the financing and delivery of safe and reliable drinking water services before, during, and after shocks and stresses such as climate crises, health pandemics, and civil unrest. With this support from USAID, one million Haitians will have access to climate-resilient sources of safe water.
As part of USAID’s US$20 million Caribbean Climate Investment Programme (CCIP) announced by Vice President Kamala Harris in June 2023, while at the CARICOM summit, USAID Assistant Administrator Marcela Escobari announced two new projects to increase climate investment in the Caribbean.
The work with the Private Financing Advisory Network (PFAN) includes three million US dollars for business advisory services to help prepare small and medium-sized enterprises for investment. The second project includes US$608,000 to Deetken Impact, a climate resilience and renewable energy investment firm that will focus on strengthening small and medium-sized enterprises with an emphasis on reaching women entrepreneurs.
USAID Administrator Power also recently announced US$6.1 million in funding for the new Caribbean Resilient Economies and Sectors (RESET) program, which will reduce barriers to public and private finance to build climate and disaster resilience and support the adoption of climate-smart practices in critical sectors.
With US$1.75 million in funding, USAID also supported the development of the CARICOM Development Fund’s new Resilience Fund as well as advisory services to support capital fundraising to build an investment pipeline.
The Resilience Fund, which is anticipated to raise US$100 million, aims to expand investment in adaptation and climate change in the Eastern and Southern Caribbean.
Washington said that all of these initiatives are part of President Joe Biden’s Emergency Plan for Adaptation and Resilience (PREPARE).
Through PREPARE, the United States will continue to partner with the people of the Caribbean to facilitate climate adaptation and resilience in the region.
IMF predicts 3.5 per cent economic growth for Belize
The International Monetary Fund (IMF) said that the Belize economy has continued to perform well and after growing strongly by 17.9 percent in 2021 and 8.7 percent in 2022, real gross domestic product (GDP) is estimated to have continued to grow robustly by 4.5 percent in 2023.
It said that the expansion has been led by the tourism, construction, retail and wholesale trade, transport, and business process outsourcing sectors.
“As a result, real GDP was 16 percent above pre-pandemic levels in 2023 and the unemployment rate declined from 14 percent in 2020 to 3.4 percent in 2023,” according to an IMF delegation led by Jaime Guajardo that ended a two-week Article IV consultation on the Caribbean Community (CARICOM) country.
It said that the fiscal position also strengthened. Public debt fell from 103 percent of GDP in 2020 to 66 percent in 2023, driven by strong nominal GDP growth, a substantial improvement in the primary fiscal balance, a debt for marine protection swap with The Nature Conservancy, and a discount in Belize’s Petrocaribe debt with Venezuela.
The IMF is predicting that real GDP growth is projected to moderate going forward. It said growth is projected at 3.5 percent in 2024 and 2.5 percent from 2025 onwards as tourist arrivals return to pre-pandemic levels and the output gap closes.
“The unemployment rate is projected to stay at 3.4 percent over the medium term as the economy remains at full employment. Inflation, which fell to 4.4 percent in 2023 led by lower prices of transport and utilities partly offset by higher food inflation, is projected to decline further to 3.1 percent in 2024 and 1.3 percent over the medium term as commodity prices and global inflation moderate.”
The IMF delegation said that the fiscal position is projected to remain robust, but debt dynamics have become more difficult.
The primary balance is projected to decline from 1.2 percent of GDP in the financial year 2022 to 0.8 percent in the financial year 2023 due to lower nontax revenues and grants, and higher expenditure on goods and services.
“Going forward, the primary balance is projected to increase to one percent of GDP from financial year 2024 onwards as capital expenditure moderates. However, the overall fiscal deficit is projected to rise from 0.6 percent of GDP in the financial year 2022 to 1.4 percent in the financial year 2023-25 due to higher interest payments on external debt.
“Public debt is projected to decline more slowly going forward given the projected moderation in growth and still high global interest rates, remaining above 50 percent of GDP over the next decade.”
The IMF delegation said that the financial soundness indicators strengthened in 2023 but remain weaker than before the pandemic. It said between 2022 and 2023, the domestic banks’ regulatory capital rose from 15.1 percent of risk-weighted assets to 16.1 percent; nonperforming loans fell from 6.9 percent of total loans to 5.2 percent; and returns on assets rose from 0.3 percent to 1.5 percent.
“However, still high nonperforming loans, low capital buffers, and tight liquidity in some banks relative to the pre-pandemic period are constraining private sector credit growth, which is likely to limit investment and real GDP growth going forward.”
The IMF delegation said that there are important risks to the outlook.
“While the risk of a sharp slowdown in the United States-Belize’s main tourism source market receded, the risk of higher global food and fuel prices due to armed conflicts in Ukraine and the Middle East remains elevated, which could increase Belize’s inflation and food insecurity.
“Global interest rates could stay high for longer, complicating debt dynamics despite the authorities’ efforts to secure concessional financing. Belize remains vulnerable to climate-related disasters, which can cause severe damage to the agriculture, energy, and tourism sectors. An economic slowdown could also exacerbate existing vulnerabilities in the banking sector,” the IMF delegation warned.
Trump appeals fraud case as $112,000-a-day interest accrues
Donald Trump is appealing against a New York judge's ruling that he must pay $454m (£360m) in penalties and interest in a civil fraud case.
This month's judgment was $355m, but the amount has soared with interest, which will keep accruing by at least $112,000 per day.
New York Attorney General Letitia James has said if Mr Trump does not pay, she will seek to seize some of his assets.
He was found to have inflated property values to obtain better loan terms.
Judge Arthur Engoron also banned the former US president from doing business in the state for three years.
Monday's appeal from the Republican presidential frontrunner means yet another legal case of his will drag further into election season as he prepares for a likely rematch against Democratic President Joe Biden in November.
Mr Trump had said all along he planned on appealing against the ruling, calling it a political witch hunt.
His lawyer, Alina Habba, said on Monday they hope the appeal court "will overturn this egregious fine and take the necessary steps to restore the public faith in New York's legal system".
In their court filing, the attorneys said they were asking the appellate division to decide whether Judge Engoron's court "committed errors of law and/or fact" and whether it "abused its discretion" or "acted more than its jurisdiction".
The former president's lawyers have also argued that he was wrongly sued under a consumer-protection statute typically used to rein in businesses that rip off customers.
Mr Trump's legal team has previously challenged rulings by Judge Engoron at least 10 times, including a gag order.
The appeals process could last a year or longer.
Mr Trump could be granted a pause on a collection of the judgment if he offers up money, assets, or an appeal bond covering the amount owed. It is unclear what route he will take.
Mr Trump's two adult sons and co-defendants, Donald Jr and Eric, were ordered to pay $4m each and are barred for two years from doing business in New York. They have maintained there was no wrongdoing and joined their father's appeal on Monday.
Adding to the drain on his cash reserves, the ex-president was last month ordered to pay $83m after losing a defamation case to E Jean Carroll, a woman he was found to have sexually abused.
In May 2023, he lost a lawsuit against the New York Times and was ordered to pay for the legal expenses of the reporters he had sued. On Monday, one of the reporters involved in the case, Susanne Craig, tweeted that Mr Trump had completed the mandated $392,600 payment.
According to a Forbes estimate, Mr Trump is worth about $2.6bn. Though it is unclear how much cash he has on hand, he testified last year he has $400m in liquid assets.
Source-BBC
PlayStation to axe 900 jobs
Sony has announced it will lay off 8% of PlayStation employees globally, amounting to approximately 900 people.
In addition to cuts in the US and Japan, the gaming giant said this would mean closing PlayStation's London Studio entirely.
In a blog post sharing an email sent to employees, boss Jim Ryan called the move "sad news" and said it was "a difficult day at our company".
"We have concluded that tough decisions have become inevitable," he said.
"The leadership team and I made the incredibly difficult decision to restructure operations, which regrettably includes a reduction in our workforce impacting very talented individuals who have contributed to our success."
The cuts come a month after rival Microsoft revealed plans to lay off 1,900 people in its gaming division, which included those at recently acquired Activision-Blizzard.
"Sony is one of the big pillars of UK game development culture so it's massive to see the legendary Sony London studio close in particular," said Halli Bjornsson, head of UK developer Lockwood Publishing.
"It's a challenging time for our industry as it continues to go through major changes.
"However, UK games talent and heritage is world-class, and if we continue to foster it, we'll rebound and be in a good place to build upon the opportunities that are on the horizon."
Sony's London Studio was founded in 2002 as a result of the merging of two other London-based studios under the PlayStation brand.
Over the past two decades, it created several series including the karaoke game SingStar and the 2000s football title This Is Football.
More recently, it made virtual reality (VR) games exclusive to Sony's headset, including VR Worlds and the well-received shooter Blood & Truth.
According to LinkedIn, the studio has between 51 and 200 employees, and it was working on "an unannounced online co-op combat game" set in London before the announcement.
Sony's PlayStation 5 has sold more than 50 million units worldwide, more than double Microsoft's Xbox Series X/S sales.
But another gaming rival, Nintendo, which released its Switch console three years earlier, has sold almost 140 million units worldwide.
Source-BBC
Governors Office announces Appointments of the Electoral District Boundary Commission
Her Excellency the Governor, Dileeni Daniel-Selvaratnam, acting after consultation with the Honorable Premier and the Honorable Leader of the Opposition today, has appointed the following persons as Chair and Members of the Turks and Caicos Islands Electoral
Boundary Commission effective February 26, 2024:
● Rev. Dr. Julia Williams - Chair
● Justice Neville Adderly
● Attorney at Law Mrs Tremmaine Harvey
In the exercise of its functions under the Constitution, in line with Section 60 of the Turks and Caicos Islands Constitution, the Commission and its members shall not be subject to the direction and control of any person or authority.
The Commission will review the boundaries of the electoral districts which the islands are divided and will submit to the Governor and the House of Assembly a report either -
(a) Stating that, in the opinion of the Commission, no changes in those
boundaries are required; or
(b) Recommending the changes in those boundaries specified in their report
For the purpose of the discharge of its functions, the Commission
(a) May invite views from members of the public
(b) Shall consult the public about a draft of its report and
(c) May seek such advice as it considers appropriate
Further information regarding the work of the Commission, including the proposed dates for public meetings, will be provided in due course.
Music producer accuses Sean "Diddy" Combs of sexual misconduct
Sean "Diddy" Combs was hit with another sexual assault lawsuit, filed by a music producer in New York federal court Monday.
The 73-page claim, brought forth by Rodney "Lil Rod" Jones, accuses Combs of repeated instances of sexual harassment, including the "unsolicited and unauthorized groping and touching" of his private body parts. It also says Jones was made to work in a bathroom while Combs walked around naked and took a shower.
The suit also accuses Combs of the "acquisition, use, and distribution of ecstasy, cocaine" and other drugs, mentions his alleged activity with sex workers and alleges that Combs "used his power, and influence to threaten and intimidate Mr. Jones."
Jones is said to have produced on Combs' The Love Album but was not compensated for his work on the project, the suit says.
A statement from Combs' attorney Shawn Holley, obtained by ABC News, says that "Lil Rod is nothing more than a liar who filed a $30 million lawsuit shamelessly looking for an undeserved payday."
"His reckless name-dropping about events that are pure fiction and simply did not happen is nothing more than a transparent attempt to garner headlines," the statement continues. "We have overwhelming, indisputable proof that his claims are complete lies. Our attempts to share this proof with Mr. Jones' attorney, Tyrone Blackburn, have been ignored, as Mr. Blackburn refuses to return our calls."
Monday's lawsuit is the latest of several filed against Combs in recent months. The first, a bombshell suit from R&B singer Cassie, who dated Combs, was settled last year.
Combs has denied the allegations, which he called "sickening" in a December statement.
"Let me be absolutely clear; I did not do any of the awful things being alleged," he said.
Sourec-ABC
Two Day Weather Forecast
FORECAST FOR TUESDAY
WEATHER: PARTLY SUNNY AND BREEZY WITH ISOLATED SHOWERS POSSIBLE. MOSTLY FAIR WITH ISOLATED SHOWERS POSSIBLE AT NIGHT.
ADVISORY: SMALL CRAFT CAUTION WILL COME INTO EFFECT.
WINDS: NORTHEAST TO EAST AT 15 TO 20 KNOTS
SEAS: 5 TO 7 FEET
SUNRISE: 06:11 AM
SUNSET: 05:51 PM
LOW TIDE: 04:06 AM (1.0 FT)
HIGH TIDE: 10:08 AM (2.3 FT)
FORECAST FOR WEDNESDAY
WEATHER: PARTLY SUNNY AND BREEZE WITH ISOLATED SHOWERS POSSIBLE. FAIR AND MILD AT NIGHT.
ADVISORY: SMALL CRAFT CAUTION WILL REMAIN IN EFFECT.
WINDS: NORTHEAST TO EAST AT 15 TO 20 KNOTS
SEAS: 5 TO 7 FEET
SUNRISE: 06:10 AM
SUNSET: 05:52 PM
LOW TIDE: 04:48 AM (1.0 FT)
HIGH TIDE: 10:42 AM (2.3 FT)
FORECASTER: H. HAMILTON
3-DAY PUBLIC WEATHER FORECAST FEBRUARY 21st-23rd, 2024
GENERAL SITUATION: A cold front will continue to spark some light shower activity over the Turks and Caicos Islands today as it makes its exit later this evening, leaving fair and cool conditions in its wake. Meanwhile, a distant low-pressure system, associated with the departing cold front, will generate swells across the chain of islands today through tonight.
SPECIAL WARNINGS: MARINERS AND BEACHGOERS SHOULD EXERCISE CAUTION DUE TO THE RISK OF RIP CURRENTS, ELEVATED SEAS, AND ROUGH SURF, ESPECIALLY ALONG ATLANTIC COASTLINES.
WEATHER: Partly sunny and mild with isolated showers possible. Mostly fair and cool at night.
ADVISORY: A SMALL CRAFT CAUTION WILL BE IN EFFECT TONIGHT.
WINDS: Northwest to North at 5 to 15 knots, increasing to 15 to 20 knots
SEAS: 2 to 4 feet nearshore building up to 5 to 7 feet offshore by tonight
DAYTIME HIGH TEMPERATURE 77°F
OVERNIGHT LOW TEMPERATURE 70°F
SUNSET: 5:48 PM
NEXT LOW TIDE: 12:49 PM
NEXT HIGH TIDE: 06:24 PM
EXTENDED FORECAST FOR THE NEXT TWO DAYS: The low pressure north of the forecast area will continue to move northward and away from the forecast area. High pressure will build across the islands supporting fair and stable weather conditions for the next two days.
FORECAST FOR THURSDAY
WEATHER: Partly to mostly sunny and mild. Mostly fair and cool at night.
ADVISORY: A SMALL CRAFT CAUTION WILL REMAIN IN EFFECT.
WINDS: Northwest to North at 10 to 15 knots, shifting to Northeasterly at 5 to 10 knots at night
SEAS: 5 to 7 feet in Northerly to Northeasterly swells
SUNRISE: 06:15 AM
SUNSET: 05:49 PM
LOW TIDE: 12:30 AM 01:31 PM
HIGH TIDE: 07:02 AM 07:11 PM
FORECAST FOR FRIDAY
WEATHER: Partly to mostly sunny and mild. Fair and cool at night.
ADVISORY: A SMALL CRAFT CAUTION WILL REMAIN IN EFFECT.
WINDS: Northeast to east at 5 to 10 knots, becoming Southeasterly at 10 to 15 knots
SEAS: 5 to 7 feet in Northerly to Northeasterly swells
SUNRISE: 06:14 AM
SUNSET: 05:49 PM
LOW TIDE: 01:18 AM 02:09 PM
HIGH TIDE: 07:45 AM 07:55 PM
Premier delivers State of the State to the Nation
In a comprehensive State of the State Address delivered on Monday, February 19th, 2024, Premier Honourable Charles Washington Misick presented the government's ambitious vision for the future, highlighting significant achievements and outlining a course for continued progress and prosperity. The tagline of the plan is "more in 24," which implies that the government will achieve more in 2024.
The Premier addressed a diverse audience of government officials, business leaders, and citizens, emphasizing the importance of unity and resilience in the face of challenges while highlighting the collective success of his government.
During his speech, Premier Misick focused on several key themes, including:
- Global Engagement
- Healthcare and well-being
- Environmental Sustainability
- Safety and Security
- Crown Lands
- Informal Settlements Unit
- Housing
- Credit Unions
- Infrastructure
- Water
- Immigration/Labor
- Digital Government
- The National ID
- Poverty Alleviation
- Vision 2040
- Constitutional Advancement
- Education
Premier Misick called upon all citizens to embrace the spirit of unity and collaboration, urging them to actively participate in the nation's journey towards a brighter future.
The Annual State of the State Address was a testament to the government's unwavering commitment to serving the people's interests and building a more prosperous and inclusive society.
Click here to re-watch Premier Misick’s 2024 State of the State Address: https://youtu.be/h_nMz2XpOaE or visit the RTC podcast page on any platform or on www.rtc89fm.com to listen to it again.
Ten Employees receives certificates from TCI Border Force
On February 14th, 2024, ten dedicated employees from TCI's Border Force proudly received their certificates, marking the successful conclusion of the Supervisory Management course offered by the University of the West Indies (Global Campus).
This transformative three-month program has equipped these employees with indispensable skills and knowledge essential for excelling in supervisory roles within the organization.
The Supervisory Management course, designed to provide students with a comprehensive understanding of the management functions that supervisors must undertake, emphasizes solid theoretical foundations and practical applications.
During the course, participants received a thorough introduction to the techniques and skills fundamental to project planning and management, decision-making, ethics, collaboration, and effective leadership.
Border Force extends heartfelt congratulations to Assistant Director Throy Forbes, Senior Officers; Sandra Hall, Brandy Garland, Glodeeka Moultrie, Marie-Belle Williams, Deardrea Dames, Cerise Pierre, and Officers; Kathia Rock, Joylene Handfield, and Marylee Wilson for their outstanding achievement.
These individuals, who hold senior positions or play vital roles in supporting unit leads, have demonstrated commendable commitment to professional development.
Commenting on this achievement, Hon. Arlington Musgrove; Minister of Immigration and Border Services states “I am immensely proud to congratulate the officers who have completed the Supervisory Management course. Equipped with enhanced supervisory skills, they are now better positioned to lead, collaborate, and make informed decisions crucial to the security of the Turks and Caicos Islands. Investing in our employees is an investment in the success and resilience of Border Force and the Turks and Caicos Islands." End quote
And also on this same course, I would like to congratulate my colleagues at Radio Turks and Caicos for completing the UWI Supervisory Management course as well.
Those persons are Arnisiqua Selver, Vaughn Hinds, and Jermaro Hamilton.
We would like to congratulate all of you for taking this step in professional development and wish you well in your roles! Congratulations!