General Audit Chamber of Sint Maarten achieves membership in CAROSAI.
Chamber, Mr. Roland Tuitt, of the approval of its membership request.
The Caribbean Organization of Supreme Audit Institutions is a regional organization wherein the Supreme Audit Institutions (SAI's) of over 20 (island) nations are represented, among which Aruba, Antigua, the U.S.V.I., Bahamas, Bermuda, Grenada, St. Lucia, Jamaica, Guyana, Suriname and Trinidad.
CAROSAI's objectives are to increase the exchange of knowledge and experiences among member Supreme Audit Institutions (SAI's) as well as expand training and continuing education possibilities among these institutions. Additionally, CAROSAI seeks to increase the importance of internal audit function in the public sector as well as render technical assistance and support to the member institutions. The Secretariat of the Caribbean Organization of Supreme Audit Chambers is situated in Castries, St. Lucia W.I.
As the General Audit Chamber of Sint Maarten was recently established (10-10-10), participation in international organizations is crucial to the continued institutional development.
Approval of the membership to CAROSAI occurred during the meeting of its membership that was held on February 1 & 2 in Antigua. In the notification to the General Audit Chamber, CAROSAI's General Secretary ,
Ms. Averil James-Bonnette, indicated that the organization believes that "the Supreme Audit Institution of Sint Maarten will play a vital role in enabling CAROSAI to achieve its objectives".
Board and management of the General Audit Chamber are proud to be able to join the regional institution and in so doing both represent Country Sint Maarten as well as contribute to CAROSAI's objectives.
Fabio Capello quits as England manager after meeting with FA
Fabio Capello has resigned as England manager, the Football Association has confirmed.
Capello quit after a meeting with FA chairman David Bernstein and general secretary Alex Horne at Wembley.
An FA statement read: "The Football Association can confirm that Fabio Capello has today resigned as England manager."
On Monday, the Italian, 65, publicly challenged the FA's decision to strip John Terry of the captaincy.
The FA's statement continued: "The discussions focused on the FA Board's decision to remove the England team captaincy from John Terry, and Fabio Capello's response through an Italian broadcast interview.
"In a meeting for over an hour, Fabio's resignation was accepted and he will leave the post of England manager with immediate effect."
Bernstein said: "I would like to stress that during [the] meeting and throughout his time as England manager, Fabio has conducted himself in an extremely professional manner.
"We have accepted Fabio's resignation, agreeing this is the right decision. We would like to thank Fabio for his work with the England team and wish him every success in the future."
A media conference with Bernstein and the Club England management team will take place at Wembley Stadium on Thursday at 1200 GMT.
The FA will not be making any further comment until the media conference.
Wednesday's meeting was the first time Capello had met the FA since their decision to remove the armband from Terry pending the outcome of his court case in July.
Terry, 31, denies a charge of allegedly racially abusing QPR's Anton Ferdinand.
On Sunday, Capello told Italy's state broadcaster RAI he did not believe someone should be punished by sporting authorities before a court had reached a verdict.
"I thought it was right that Terry should keep the captain's armband," said Capello, whose first game in charge was on 6 February 2008, against Switzerland.
"I have spoken to the [FA] chairman and I have said that in my opinion one cannot be punished until it is official and the court - a non-sport court, a civil court - had made a decision to decide if John Terry has done what he is accused of."
FA head of elite development Gareth Southgate suggested Under-21 head coach Stuart Pearce will be in charge for England's friendly against the Netherlands at Wembley on 29 February.
"Stuart Pearce is in the building and with the under-21s," said the former England defender.
"But you have to think for the summer - can you get the person you want for the longer term? Because the leading candidates are with clubs at the minute.
"Harry Redknapp is one of leading candidates but Tottenham will have something to say about that and Daniel Levy is not going to want Harry to leave without a fight, so there's an awful lot to work out in the next few weeks."
Former England captain Alan Shearer said: "England should be managed by an Englishman and I would go along with Harry Redknapp as the outstanding candidate. He's a genius at motivating players."
"Let's move on and get someone who wants to manage England in a major tournament. Managers come and go and you have to be professional as a player.
"They'll want to put on the white shirt and go out there and play regardless of who's in charge."
Another possible candidate to succeed Capello is West Brom manager Roy Hodgson, who was tipped to replace the Italian after the 2010 World Cup.
However, before the FA made its decision, the vastly experienced Hodgson plumped for an ill-fated spell with Liverpool before moving on to the Hawthorns.
Zambia 1-0 Ghana
Emmanuel Mayuka came off the bench to score a late goal as Zambia shocked Ghana to earn a place in the Africa Cup of Nations final.
The substitute collected a pass and steered a shot into the bottom corner 12 minutes from the end after Asamoah Gyan missed a first-half penalty.
Gyan's effort was saved when Davies Nkausu fouled Kwadwo Asamoah.
Derek Boateng was sent off late on for Ghana before Prince Tagoe had a goal-bound shot blocked.
Despite the Black Stars' dominance and the penalty miss, Zambia's Chris Katongo had another great opportunity in the first half but fired off-target.
The Chipolopolo have never won the competition but the two-times runners-up have now reached the final of the competition for the first time since 1994.
While for Ghana, who reached the 2010 final and have not won the Cup of Nations for 30 years, it was another crippling blow in similar circumstances to their World Cup exit in 2010.
Back then, the Black Stars fell to a penalty-shoot out defeat in the quarter-final against Uruguay, where Gyan again missed from the spot in normal time.
This time it was Kennedy Mweene who saved, as the striker shot low to the keeper's left after Asamoah was caught by Nkausu following Samuel Inkoom's cross.
Ghana, who were without the injured Emmanuel Agyemang Badu dominated possession in the first period with brothers Andre and Jordan Ayew showing some neat link-up play as they strove to get in behind the Zambian defence.
But Herve Renard's team stood firm, and after Nathan Sinkala tested goalkeeper Adam Kwarasey, they could have taken the lead on the break.
Rainford Kalaba cleverly received the ball and slipped in Katongo, but he shot wide from 12 yards with only Kwarasey to beat.
Jordan Ayew missed a sitter when his brother found him before the break and shot from range early in the second half, yet for all their persistence and further efforts by Gyan, Ghana could not pierce the Zambian defence.
With the game in a lull it was a surprise, then, that Gyan was replaced with 15 minutes left, especially as Zambia struck with the second half's only major chance.
And when it finally came it was a goal worthy of winning the match.
Half-time substitute Mayuka was fed by Isaac Chansa, before he held off a Ghanaian challenge and on the half turn fired into the bottom corner and in-off the post.
The Ghana riposte was put off course when Derek Boateng received his second yellow card to reduce the 1982 champions to 10 men.
And although Tagoe was denied in the closing stages, the four-times champions were made to rue another missed opportunity to claim silverware.
Bolt to open season at Camperdown Classic
World 100 and 200-metre record holder Usain Bolt will open his 2012 season at the Camperdown Classic this Saturday at the National Stadium.
Bolt listed the meet on his website as his first for the 2012 season although not mentioning which event he will take part in.
It is expected that Bolt will compete in the men’s 400 metres where he will square off with Botswana sprint star Isaac Makwala.
Bolt last competed at the Camperdown Classics in 2010.
World 100-metre champion Yohan Blake will also open his season at the meet.
Over the past three years, Bolt and other members of the Racers Track Club, which also include Jermaine Gonzales, Olympic 400 metres finalist, Rosemarie Whyte, Olympic 100 metres finalist, Daniel Bailey, and Schillonie Calvert have opened their season at the Camperdown Classics.
Maradona threatens to leave Al Wasl
Diego Maradona warned the owners at Al Wasl on Tuesday that he may not return to coach the team next season if it doesn't buy the kind of players that would allow him to compete for the league title.
The Argentine football great complained at a press conference that the United Arab Emirates club didn't bring in enough quality players during the recent January transfer window. It signed two foreign players, Mohammad-Reza Khalatbari of Iran and Juan Ignacio Mercier of Argentina, but Maradona said he had wanted to sign several others as well, without providing names.
"It was a restrictive budget and did not allow us to sign players we had in mind," Maradona said through a club translator.
"I would like everyone to know, especially the fans, that next season I will not accept a small budget. We need a big budget that will allow us to sign players that will give us a boost. ... If this will not happen, I will not be able to do my job. I will not be able to continue."
Maradona's criticism is the latest sign that he is growing tired of his lucrative coaching job in the conservative Gulf nation.
Since arriving on a two-year contract in May, Maradona has taken aim at referees he called biased, questioned the professionalism of some players in the league, and was fined by the league for verbally abusing a rival coach.
Along with criticising management Tuesday, he opened the news conference by accusing security staff of allowing people to watch a closed practice earlier in the day. He said he "couldn't do his job" if his instructions weren't followed, and called for those responsible to be fired.
Maradona's frustration is partly linked to the team's disappointing perform-ances thus far.
The arrival of the 1986 World Cup-winning Argentine was expected to elevate the club back to the top. Instead, they sit in fifth place, nine points behind league leaders Al Ain. The club has also has been knocked out of several cup competitions and Maradona has already conceded the club has little chance of picking up any silverware this season.
Maradona coached Argentina to the 2008 World Cup quarter-finals in South Africa. He was fired after the World Cup and was linked to several clubs before accepting the Al Wasl offer.
The sports club is chaired by Sheik Ahmed bin Rashid Al Maktoum, a brother of the Dubai ruler. Al Wasl is considered one of the top clubs in Dubai but hasn't won anything since 2007.
Raid at TTFF office
The Trinidad and Tobago Football Federation (TTFF) had some of its physical assets levied upon by some members of the national football team that participated in the 2006 FIFA World Cup finals in Germany.
Accompanied by a Court Marshall and police officers, the players entered the TTFF’s Dundonald Street, Port of Spain office at around 10 am today, and proceeded to remove computers and office furniture.
This action came as a result of the TTFF’s failure to comply with an October 2011 High Court ruling by Justice Devindra Rampersad, which ordered the local football body to pay the sum of TT$4.2 million to thirteen members of the Soca Warriors squad.
TEN
Greece bailout: Coalition fails to agree cuts
Greek PM Lucas Papademos has failed to secure the support of his coalition for a raft of new austerity measures, after more than seven hours of talks.
He had met officials from three parties to try to secure a deal leading to a fresh bailout package.
The main stumbling block in the crunch talks was proposed pension cuts, reports said.
Mr Papademos was said to be going directly to discuss the problem with EU and IMF officials.
They are representing the so-called "troika" of bailout creditors - the European Union, the European Central Bank and the International Monetary Fund - who had earlier agreed the draft proposals with the prime minister.
They are thought to include a 20% minimum wage reduction, pension cuts and the sacking of 15,000 public sector workers - and have prompted further mass protests.
Officials from Pasok, New Democracy and the far-right Laos party only received the 50-page text on Wednesday morning, reports said, after Mr Papademos agreed the deal with the troika on Tuesday night.
Pressure
According to Laos leader George Karatzaferis, the bulk of Wednesday's meeting was spent discussing the issue of supplementary pensions, which had reportedly been in line for a 15% cut.
Mr Papademos's office said Mr Karatzaferis had expressed "serious reservations" during the meeting.
As he left, Mr Karatzaferis told reporters: "I made my positions clear from the beginning... I wanted to support Mr Samaras (New Democracy leader) on that issue (pensions)."
Antonis Samaras said he had felt obliged to bargain hard.
"We want to ease the people's suffering,'' he said.
Eurozone finance ministers are to discuss the bailout on Thursday and observers say there is huge pressure for the Greek political leaders to agree a deal prior to that meeting.
But the BBC's Mark Lowen, in Athens, says the package of cuts and reforms would go down very badly with an austerity weary Greek nation.
According to unconfirmed reports in the Greek media, the measures were aimed at trimming 3.2bn euros (£2.7bn; $4.2bn):
- Minimum wage to be cut by 22% from 751 euros per month to 600 euros.
- Supplementary pensions to be reduced by 15% but basic pensions also likely to be cut
- 15,000 public sector jobs to go by end of 2012
- But holiday bonuses, known as 13th and 14th month salaries, expected to be saved
On Tuesday night, a spokesman for the International Institute of Finance (IIF) which is negotiating on behalf of the private creditors said the talks had been constructive and its three officials were returning to Paris for further consultations.
As part of Greece's new 130bn euro ($170bn; £110bn) bailout deal - Greece's second international bailout - Mr Papademos and Finance Minister Evangelos Venizelos have also been engaged in a separate strand of negotiations with private creditors over a write-off of up to 70% of the value of the money owed by the Greek government.
BBC
European central banks to blast cash into economy
With Europe sliding toward recession, the region’s two main central banks are preparing to redouble their emergency measures aimed at softening the downturn and blunting the effects of the government debt crisis.
Analysts expect the U.K.’s central bank, the Bank of England, to announce Thursday that it will inject another 50 billion pounds ($79 billion) of new money into an economy that shrank at the end of last year.
Meeting the same day at its headquarters in Frankfurt, Germany, the European Central Bank is expected to trumpet the advantages of its second unlimited offering of cheap, three-year loans to be allotted to banks on Feb. 29.
Neither central bank is expected to change interest rates from their current record lows — the Bank of England at 0.5 percent and the ECB at 1.0 percent. Rather, attention will focus on their outlooks and their attempts to push more money into the banking systems and the economy.
A first blast of cheap ECB credit — euro489 billion ($641.23 billion)— was taken up by 523 banks on Dec. 23. The step has been credited with calming some of the market panic from the debt crisis hitting the 17 countries that use the euro, and stocks and government bonds have risen since then. Analysts think the takeup could equal or exceed the first one, since the ECB has loosened collateral requirements.
Despite a remarkable easing in tensions on financial markets this year — particularly evident in the big drop in the borrowing rates of weak countries like Italy and Spain — the 17-country eurozone and the U.K. face worrying signs from the wider economy.
The eurozone economy is widely expected to have contracted in the fourth quarter, while the U.K. shrank 0.2 percent in the last three months of the year. Many analysts predict both regions will fall into a technical recession — defined as two consecutive quarters of negative growth — by the end of March.
Both remain exposed to any sudden shock from the crisis in Europe over too much government debt — financial volatility quickly causes credit to seize up, stifling economic activity.
A messy default by Greece — currently in drawn-out talks with other eurozone governments, the ECB and the International Monetary Fund about a second bailout — would threaten the integrity of the eurozone, shaking British and world markets as well.
Recent economic indicators for Britain and the eurozone have suggested things may pick up a bit in the months ahead, but big risks remain.
Credit availability, crucial to help businesses expand and create jobs, appears to be dropping in the eurozone. An ECB survey of banks indicated that the number tightening lending requirements surged at the end of last year, to a net 35 percent from 16 percent.
Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, says Britain still needs a further shot of stimulus thanks to the commotion across the Channel.
“Short-term prospects remain on a knife-edge given the ongoing policy paralysis in the eurozone. If the crisis deepens, it would most likely reverse all of the pickup seen in the last couple of months,” he said.
Analysts think the Bank of England will create new money to buy securities — mostly British government bonds — from private investors such as insurance companies and pension funds, on top of 275 billion pounds ($437 billion) it has already purchased.
The hope is that the purchases, known as quantitative easing or QE, will increase the amount of cash flowing through the financial system, which will in turn help lower interest rates and borrowing costs for businesses and raise asset prices. Quantitative easing can be inflationary, but analysts say the bank has room to act as inflation is widely forecast to fall from 4.2 percent toward the official 2 percent target over the next two years.
Vicky Redwood, chief U.K. economist at Capital Economics, said inflation “is expected to fall some way short of target.”
“Accordingly, we think the big picture will be that further QE is still needed,” Redwood added.
The U.S. Federal Reserve, which has already done two rounds of quantitative easing, has raised the possibility of doing another round as well.
For its part, the ECB may remain in a holding pattern on interest rates for some time, barring a sudden financial disaster in Greece. The country’s political leaders need to agree to tough austerity terms this week if Athens is to get more bailout loans in time to pay debts coming due March 20 and avoid default.
ECB president Mario Draghi is likely to face questions over whether the central bank will help find more money for the Greek bailout, now believed to be euro15 billion short of Greece’s needs.
Eurozone officials have suggested that the bank find a way to donate potential profits it may make on euro55 billion ($72 billion) in Greek bonds it bought for around euro40 billion on the secondary market. It could do that by selling the bonds to the eurozone bailout fund for what it paid for them, and the fund could then write them down.
Some analysts say the ECB isn’t in principle opposed to such a move, but is holding back to not appear to be taking instructions from governments — it is forbidden by the EU treaty to do that. Draghi turned aside questions about the issue at the bank’s January meeting but will be pressed for a clearer statement this week.
YAHOO News
Apple seeks change to 'essential' patent licence rules
Apple has asked for more clarity over how patents deemed crucial to industry standards should be handled.
The firm wrote a letter to the European Telecommunications Standards Institute (ETSI) in November, which has now been reported by the Wall Street Journal.
The iPhone maker called for "more consistent and transparent" application of rules designed to ensure that such intellectual properties were licensed.
Both Samsung and Motorola Mobility have sued Apple over "essential" patents.
The document has since been published in full on the Foss Patents blog.
It centres on what are termed Frand principles - an agreement to license technologies critical to a recognised standard, such as 3G networks or MP3 files, under fair, reasonable and non-discriminatory terms.
Companies that sign up to the rules agree that they cannot discriminate who gets to use their invention so long as they are paid a fee, which cannot be excessive.
Three-step plan
Apple notes that it committed itself to the agreement in 2007 - although it has launched numerous lawsuits concerning its rivals' alleged infringements of its non-Frand innovations.
The company's request lists three specific points:
- Parties should only be able to claim an "appropriate royalty rate", both at the start and end of negotiations.
- There should be a "common royalty base" - in other words, the patent's value should be determined as a percentage of the cost of the relevant components rather than the device as a whole.
- Patent owners should commit to a "no injunction" policy under which they do not seek to block the sale or shipments of rivals' equipment on the basis of a Frand-patent dispute.
"Apple is committed to this framework, provided that other parties reciprocate," said Bruce Watrous, the firm's chief intellectual property counsel.
Foss Patents' author, consultant Florian Mueller, links the letter to 9 To 5 Mac's revelation last September that Samsung had sought 2.4% of Apple's sales prices for each of a series of 3G-related Frand-type patents that it contested last year. The case was rejected by a Dutch court.
The European Commission has subsequently notified Samsung that it is investigating whether the firm had used its rights to "distort competition in European mobile device markets".
Blame game
Mr Mueller also notes that Motorola Mobility sought 2.25% of Apple 3G-enabled iPhone and iPad sale prices when Apple sought to license the Razr phonemaker' s GPRS-related Frand-innovations.
Apple had to briefly remove several of its devices from its German online store last week because of the dispute with Motorola.
However, one patent lawyer suggested that Apple was not blameless in the spate of recent lawsuits.
"Steve Jobs effectively declared war on Samsung and Android - so the litigation has been emotionally charged," said Ilya Kazi from the UK's Chartered Institute of Patent Attorneys.
"It is fair to say that most manufacturers are in favour of Frand-type agreements - at least when they are on the receiving end of a lawsuit.
"The issue is whether this letter has a great deal of legal significance. Frand is a great principle but there is also the underlying principle of letting patent holders enforce their rights."
Nokia to carry out 4,000 job cuts
Finnish mobile phone maker Nokia announced the details of 4,000 job losses on Wednesday at plants in Hungary, Mexico and Finland.
The company said the plants would remain open and refocus on customising phones whilst the actual assembly would move to South Korea and China.
The cuts are planned to be complete by the end of the year.
Nokia said the move is aimed at placing its production closer to its component suppliers who are also based in Asia.
The cuts come two weeks after the Finnish firm posted a 1.08bn euro ($1.4bn; £905m) loss for the three months to the end of December 2011.
Nokia reported that its net sales fell 21% on a year earlier to 10bn euros and net sales of its mobile phones were down by a quarter.
Burning platform
Nokia, formerly the world's largest maker of mobile phones, announced a tie-up with Microsoft last year in the face of fierce competition from a new generation of smartphones including Apple's iPhone and Samsung's Galaxy.
At the time Nokia chief executive Stephen Elop likened Nokia's situation to standing on a "burning platform".
The company announced a series of job cuts in a statement in September 2011 and mentioned planned cuts to its European facilities at the time.
With the latest job losses, the firm has made 14,000 cuts since 2010.