PREMIER MISICK ANNOUNCES CHANGES TO CABINET
The Premier has advised Her Excellency Anya Williams, Acting Governor, following Section 34(2)(b) of the Turks and Caicos Islands Constitution the following change to ministerial appointments with effect from Tuesday 27 February 2024:
• Honourable Charles Washington Misick, Premier and Minister with responsibility for Finance, Investment, and Trade
The Honourable Erwin Jay Saunders will continue to serve as Member of Parliament for the All-Island District.
In announcing this ministerial change, the Premier stated “I wish to thank Honourable Saunders for his service these past three years as my Deputy and for his stewardship in the ministries he served. My government will undertake a review of the various functions and responsibilities as outlined in the current ministerial portfolios, and I will advise the Acting Governor of any additional changes in due course.”
Experienced Police Officers sworn in
The Royal Turks and Caicos Islands Police Force welcomes the addition of eleven new police officers.
The nine experienced officers- Alex Joseph, Michael Golding, Kimberly McKain, Travis Robinson, Prakash March, Delroy Green, Mitsy Davis-Skeen, Justus William and Everton Dunkley, along with Special Constables Kerri-Ann Sinclair and Bethsarah Watson- Green took their oaths today (February 26), during a brief ceremony at the Ethel Ingham Center.
The officers are tasked with protecting and serving the citizens and visitors of the Turks and Caicos Islands.
Acting Commissioner of Police Rodney Adams, in administering the oath to officers, called on them to adhere to policing principles and maintain their integrity at all times.
Mr. Adams said, “Today begins an exciting journey as you join our ranks in serving and protecting our community. Your decision to pursue a career in law enforcement speaks volumes about your dedication to public service, and we are honored to have you on our team.
“As you embark on this path, remember the importance of integrity, professionalism, and empathy in every interaction. Our community entrusts us with their safety, and we must always uphold the highest standards of conduct.”
In attendance were the acting Governor, Her Excellency Mrs Anya Williams, Assistant Commissioners of Police, Mr. Kendall Grant, Darron Williams, and Mat Newton.
Efforts to reduce emissions in Trinidad and Tobago by investing in electric vehicles
The Washington-based IDB Lab says it will invest reimbursable and non-reimbursable financing in the startup GoElectricTT to launch a new business model that aims to catalyze the adoption of electric vehicles in Trinidad and Tobago.
GoElectricTT says it will offer short- and long-term leases and rentals of an all-electric vehicle fleet and will engage in outreach and public education on the benefits of using the vehicles. With an initial fleet of 15 vehicles, the startup will focus on the business sector of Trinidad and Tobago and target companies that typically own or lease fleets.
It will seek to lower the perceived risk of investment, allowing citizens to experience the benefits in terms of cost and sustainability, without making a long-term commitment, and encouraging them to transition to an electric environment.
IDB Lab, the innovation and venture laboratory of the Inter-American Development Bank Group (IDB Group), the project aims to help avoid 190 tons of CO2 emissions from fuel combustion over two years, advancing the IDB Group’s goal of introducing innovation and new technologies that are low in carbon emissions and for the digitalization of the transport sector.
The longer-term objective is to drive the adoption of electric vehicles on a larger scale, as supply and acquisition costs become more accessible.
Trinidad and Tobago has a total of more than 800,000 vehicles for a population of approximately 1.4 million people. Most of these vehicles have internal combustion engines, which produce pollution and contribute to climate change.
The IDB Lab said despite fiscal incentives on the importation of electric vehicles as a way to move toward a low-carbon future, the adoption of these vehicles has been slow – accounting for less than one percent of new registrations.
“This investment contributes to IDB Lab’s growing portfolio in climate technology, which focuses on creating early-stage opportunities in Latin America and the Caribbean, leveraging innovation and prioritizing real-life impact for the people of the region,” the statement added.
Marley biopic albums hit Billboard Reggae chart
The Bob Marley: One Love (soundtrack) and Bob Marley: One Love (music inspired by the film — various artists' projects) have entered the Billboard Reggae chart.
The soundtrack features 17 tracks performed by Bob Marley and the Wailers and was culled from the albums Catch a Fire, Burnin, Rastaman Vibration, Exodus, and
Kaya.
The set entered the chart at #9.
Meanwhile, the music inspired by the film album has seven tracks and features songs by Skip Marley, Kacey Mulgraves, Daniel Caesar, Bloody Civilian, Jesse Reyes, Leon Bridges, and Wizkid.
It debuts at #8.
The other trending Bob Marley and the Wailers project, Legend, spends 214 non-consecutive weeks in the #1 spot.
And still on the Billboard Reggae Albums chart, Best of Shaggy: The Boombastic Collection remains at #2, Dutty Classics Collection by Sean Paul is #3, and
World on Fire by Stick Figure is #4
Source-JA Observer
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