CARICOM trade ministers move towards charting a new path
Caribbean Community (CARICOM) trade ministers have begun discussions on how to strategically position the Council for Trade and Economic Development (COTED) to deliver on its mandates to the Community.
Ministers and their representatives, who were in Georgetown for the 33rd meeting of the COTED, placed their initial thoughts on the table on Friday 18 November, with the intention of devoting more time at the next meeting of the council scheduled for March to fully expound on charting a new path.
The discussions were held against the background of remarks made by both the chair of COTED, Senator Maxine McClean, Minister of Foreign Affairs and Foreign Trade of Barbados and Irwin LaRocque, CARICOM secretary-general at the opening ceremony of the meeting. They both indicated then that there was need for a more efficient way to conduct business. They made reference to items recurring on the agenda which remained unresolved and the length of time it took for some decisions to be carried to fruition.
McClean was of the view that it was a very opportune time for the COTED to review its performance, including its method of work, and “to strategize on its direction for the next few years taking into account the current global economic reality”.
LaRocque also felt that the time had come for the ministerial sessions of the COTED to be more strategic in its outlook. There was an economic cost to the time consumed in rehashing the issues without resolution, and it was fuelling frustration, he pointed out.
During the discussion, there was consensus on the need for a new focus for COTED, and among the recommendations and suggestions put forward were the need to place in context the priorities of the CARICOM heads of government identified in their retreat in Georgetown earlier this year; the highly volatile global environment; the impact of trade liberalization on regional economies; and the nexus between trade and development.
Deliberations are to be held at the national level, with input from the chair of COTED and the CARICOM Secretariat. Recommendations from those interactions will then be tabled at the 34th COTED meeting.
Earlier in its deliberations, the two-day meeting was apprised of the endorsement by the 38th special meeting of COTED (Agriculture) of the regional policy on food and nutrition security (RPFNS) and the RPFNS action plan. As part of the progress on the Jagdeo Initiative, ministers were informed of an imminent meeting of lead agriculture agencies in the region to consider improving the efficiency and effectiveness of alleviating the key binding constraints contained in the Initiative.
Against the background of what ministers concurred was a worsening situation regarding food prices, the ministers called for the acceleration of work and more short-term solutions to confront the challenge. At the national levels, concrete and practical measures – including production and consumption of healthy foods – also needed to be identified to bring relief.
With regard to the treatment of CARICOM nationals travelling in the region, ministers underscored the critical importance of public education and sensitization on matters related to the free movement of nationals, another pillar of the CARICOM Single Market and Economy (CSME). The meeting identified early 2012 for the commencement of comprehensive training of staffers at points of entry in member states. The meeting also reiterated a call for the provision of adequate data by member states to allow for analysis of the progress of the free movement regime and difficulties encountered at points of entry. A formal mechanism for the receipt of complaints was also recommended for establishment.
Deliberations were held on the harmonisation of legislation on the rights of establishment – another of the CSME’s regimes — and proposals would be crafted based on a final report on the matter. Those proposals would be tabled at a subsequent meeting of COTED.
Caribbean News Now
Manuel Noriega: French court backs his return to Panama
A French court has granted a request by Panama to send Manuel Noriega back home, where he is wanted for crimes committed during his 1983-1989 rule.
The former Panamanian military leader is currently serving a prison sentence in France for money laundering.
Prior to that, he spent 20 years in prison in the US after being convicted there of drug-trafficking charges.
Noriega is likely to return before the end of the year to Panama, where courts have already convicted him in absentia.
He was found guilty of embezzlement, corruption and the murder of two opponents.
In its ruling on Wednesday, a Paris appeals court cleared the way for his extradition.
Noriega, 77, could appeal but his lawyer has previously said his client wishes to return home.
Once a US ally, Noriega was arrested by invading American troops in January 1990, amid allegations he had turned Panama into a drug-trafficking hub.
He was extradited from the US to France in 2010, where he had been convicted in absentia of laundering money from Colombian drug gangs through a French bank to buy property in Paris.
He was sentenced to seven years.
Panama's President Ricardo Martinelli has said that it will be up to a judge to decide if Noriega, given his age, is jailed or put under house arrest.
Antiguan faces 20 years in prison for human trafficking
An Antiguan businesswoman is facing up to 20 years in prison for human trafficking after becoming the first individual to be charged under the country’s recently-passed Trafficking in Persons Prevention Act.
Promoter Cheryl Thompson has been slapped with 49 charges after being accused of benefitting from the services of her 17 victims, who were allegedly sexually exploited.
Thompson, the owner of several stores and rental properties and a nightclub, is currently out of prison on EC$500,000 (US$ 185,000) bail.
She has been ordered to report to the police three times a week.
A Magistrate has also advised her not to go within 100 feet of the home of the alleged victims in the wake of police concerns of witness tampering.
The woman was initially arrested earlier this month on two counts of human trafficking after one of her accusers complained to authorities that her passport was not being returned to her.
The charges later increased following police investigations and the discovery of 17 passports, all allegedly belonging to Jamaicans, at the promoter’s residence.
The prosecutor said Thompson could be fined up to EC$400,000 (US$148,000) or 20 years in prison or both if she is convicted.
Her trial is set for February 29, 2012.
Caribbean 360 News
Bahamas to improve access to drinking water
The Bahamas will overhaul major parts of the water infrastructure in New Providence with the help of an $81 million loan approved by the Inter-American Development Bank (IDB).
The five-year program is expected to cut in half the amount of water lost through leakages in New Providence, conserving precious drinking water and improving financial sustainability for local water suppliers.
A total of 6,000 leaks will be repaired and 9,000 new water connections will be activated by project completion. Moreover, water pressure and continuity are expected to rise significantly, leading to better service for 38,000 households that already connected to the water network.
“The Bahamas has by far the lowest ratio of fresh water to population in Latin America and the Caribbean,” said Evan Cayetano, project team leader at the IDB. “The amount of available fresh water per capita is less than 0.1 percent of the regional average, which highlights the need for action in this sector.”
The operation will establish a new independent environmental regulator to protect the country’s scarce fresh water resources, as well as a new economic regulator. It also aims to strengthen management of the Water and Sewerage Corporation, the country’s main provider of water services, implementing a monitoring system to facilitate operation and maintenance.
The program will also target potential health hazards by rehabilitating broken sewerage infrastructure and coming up with a master plan to address wastewater collection and treatment in New Providence.
Caribbean News Now
George Michael postpones shows because of pneumonia
George Michael has postponed a series of concerts, including two this weekend in Cardiff, after being taken to hospital for treatment for pneumonia.
The singer, 48, had been due to appear in Vienna as part of his Symphonica tour on Monday but cancelled two hours before it was due to start.
He is reportedly being treated at a hospital in the Austrian capital.
His publicist said performances in Vienna, Strasbourg and at Cardiff's Motorpoint Arena would be rescheduled.
Connie Filippello said dates would be provided when available.
Austria's state broadcaster is reporting that the former Wham star is being treated in Vienna's AKH hospital.
Michael's European tour of Symphonica kicked off in Prague in August and was originally meant to include 47 dates.
It has seen the Careless Whisper singer return to live performance accompanied by a 41-piece symphony orchestra.
He had previously claimed his 2008 concerts would be his last live shows but announced the Symphonica tour after serving a short jail term last year for crashing his car in London while under the influence of cannabis.
At the press launch in May he said: "I felt very re-energised after my recent troubles.
"I think musically this tour and album will be surprising because I'm being far more true to myself."
In October, a viral infection caused Michael to pull out of a show at the Royal Albert Hall in London, following advice from doctors.
Ticketholders were emailed on Wednesday to tell them the concert would be rescheduled for 2 May at the same venue.
Earlier this month Michael played a gig at the Royal Opera House in London, to raise money for Sir Elton John's Aids Foundation
Stage collapse victims sue Sugarland
The families of four people killed and dozens injured when a stage collapsed at a Sugarland concert in August filed a lawsuit Tuesday against the country duo.
Seven people were killed and at least 40 injured when metal scaffolding fell onto the "Sugarpit," a section usually occupied by Sugarland's most faithful fans, when a storm swept through the Indiana State Fair on August 13.
The lawsuit, which comprises 48 plaintiffs, contends that the band "failed or refused to cancel the Sugarland concert despite inclement weather" and that it had "ultimate control over the lighting" that fell on many of the victims.
"Sugarland had supervisory authority and discretion for stage size, lighting, instruments, trusses, sound equipment and location of sound equipment, and the stage system," the suit said.
Forecasters warned that heavy rain and strong winds would hit the fair nearly two hours before the storm moved through, causing the collapse of the stage. The National Weather Service estimated winds at 60 to 70 mph.
"Sugarland was not required to perform if Sugarland determined their performance would be impaired or prevented due to inclement weather," the suit said. "The decision whether to cancel the Sugarland concert due to weather conditions was the responsibility of Sugarland."
Sugarland's representative said the group would offer no comment about the lawsuit.
The suit also names other defendants, including Mid-America Sound, the company that rented the stage, roof and lighting system, and event promoter Live Nation.
CNN
US drug officials say...REGGAE SINGER ALSO A TARGET
THE Jamaican STAR has learnt that United States (US) officials are also probing a roots/reggae singer for drug-related allegations.
Reports are that the singer has appeared on the US radar as officials continue their investigations in the alleged involvement of local artistes in drug runnings.
According to a law enforcement officer, who spoke to THE STAR recently, the documents are being processed for the possible arrest of the singer.
The singer's name is well known in entertainment circles but has no major local hits. He is also involved in production and promoting of events.
The latest revelation comes after the same law enforcement officer revealed that they are also planning to seek a popular deejay on drug-related allegations.
THE STAR was informed that the deejay who has had several hit songs locally is being sought in Michigan in the US on drug-related allegations. He is reported to be wanted on at least two warrants.
The Corporate Area-based deejay is also been labelled as an associate of former west Kingston strongman Christopher 'Dudus' Coke, who is currently awaiting sentencing in the US.
Coke pleaded guilty to one count of racketeering conspiracy and one count of conspiracy to commit assault with a dangerous weapon in aid of racketeering.
Nokia Siemens to cut 17,000 jobs, 23% of its workforce
The struggling telecoms equipment maker Nokia Siemens Networks is cutting 17,000 jobs, 23% of its workforce.
The cuts from its 74,000-strong workforce should help reduce costs by some 1bn euros ($1.35bn; £860m), the company said in a statement.
The loss-making venture, owned by Finland's Nokia and Germany's Siemens, has faced stiff competition from rivals such as Huawei and Ericsson.
The owners are considering listing the venture as a separate company.
"This is a big move. I believe the goal is an Initial Public Offering [flotation]. That cannot be done with the current structure and operation models," said Jari Honko, an analyst at Swedbank.
Nokia Siemens chief executive Rajeev Suri described the planned layoffs as "regrettable but necessary".
"As we look towards the prospect of an independent future, we need to take action now to improve our profitability and cash generation," Mr Suri said.
"These changes didn't come out of the blue. When a new chairman was appointed earlier, they signalled that a strategy update would be coming," said Sami Sarkamies an analyst at Nordea Bank.
Cuts of this size were likely to be carried out in different phases said Sarkamies.
He said they were likely to have a positive effect on the company's share price.
"Savings of 1bn euros could translate into a ten-cent earnings per share improvement for Nokia," explained Sarkamies.
Traders use earnings per share as a key measure to value companies listed on the stock exchange.
The firm, which is a joint venture between Finland's Nokia and Germany's Siemens, has said the restructuring program will involve cuts across operations worldwide.
Shares in Nokia Siemens rose more than 2% to 4.27 euro after the announcement.
Nokia Siemens has been squeezed by market leader Ericsson and increasing competition from Chinese firms Huawei and ZTE.
It is not alone in the industry in announcing large-scale job cuts.
French rival Alcatel Lucent cut 12,500 jobs in 2007 while Ericsson cut 5,000 jobs in 2009 and a further 1,500 in 2010.
Struggling Canadian giant Nortel eventually filed for bankruptcy protection.
In its last trading statement the firm posted a 16% rise in sales to 3.4bn euro ($4.6bn; £2.9bn) which it said was "driven primarily by growth from the acquired Motorola Solutions networks assets".
In September, Nokia and Siemens had announced 500m euro of additional funding for the joint venture to strengthen the firm's financial position.
Suzuki starts arbitration procedure against Volkswagen
Suzuki Motors has initiated arbitration proceedings against Volkswagen in a bid to buy back its shares from the German carmaker.
Volkswagen bought a 9.9% stake in Suzuki in 2009, but relations between the two have since deteriorated.
Suzuki ended its partnership with VW in September, after the later accused it of breaking terms of their agreement.
The German firm has said Suzuki has "no legal foundation" to force it to sell its shares.
"Suzuki Motor Corporation is today commencing arbitration proceedings in London with the ICC International Court of Arbitration, in order to compel Volkswagen AG to dispose of its Suzuki shares to Suzuki or Suzuki's designated third party," the Japanese carmaker said in a statement.
Feds shut down dozens of online mortgage relief scams
The federal government is cracking down on scammers who target struggling homeowners looking to lower their monthly mortgage payments.
Hundreds of con artists have been taking advantage of victims through online advertisements on search engines Google (GOOG, Fortune 500), Bing and Yahoo! (YHOO, Fortune 500), promising to help homeowners modify their mortgages through the government-run program known as the Home Affordable Modification Program (or HAMP).
Last week, the agency that investigates fraud, waste and abuse in the government's Troubled Asset Relief Program, announced that it has shut down 85 scams that were advertising on Google. Then, on Monday, it announced it had halted another 125 shady advertisers on Yahoo and Microsoft's (MSFT, Fortune 500) Bing search engine.
"The first place many homeowners turn for help in lowering their mortgage is the Internet through online search engines, and that's precisely where they are being taken advantage of and targeted," said Christy Romero, Deputy Special Inspector General for the Troubled Asset Relief Program (SIGTARP).
Ever since HAMP and other federal aid programs aimed at helping struggling homeowners were launched, scam artists have been finding ways to exploit them.
Millions eligible for foreclosure review
"SIGTARP is diligently working on every level to stop these frauds, to protect homeowners from being victimized, and to hold accountable criminals who defraud homeowners in connection with HAMP and other TARP programs," said Romero.
Google has since suspended relationships with 500 advertisers and agents linked to the online mortgage fraud scams that advertised on its search engine, according to the inspector general's office. Microsoft, which powers Bing and Yahoo's advertising searches in the U.S., cut off 400 advertisers this week.
A spokesman for Microsoft said the company "is committed to preventing fraud within its advertising network and online community and is working closely with the [SIGTARP] to help tackle the problem of fraudulent mortgage-modification advertising."
A Google spokesperson wasn't available for comment.
Both Microsoft and Google are also collaborating with the U.S. Department of the Treasury, focusing on identifying paid search advertisers who may mislead customers seeking mortgage assistance.
The search companies auction off prominent positions at the top of their search result pages that are linked to certain keywords or phrases. Advertisers bid to buy one of the top spots for a keyword or phrase like "foreclosure relief." They may also buy related terms, such as "mortgage modification," "foreclosure prevention," or "lower mortgage payments."
Many of the scam sites may suggest they have an affiliation with a government agency by using an official-sounding name or government-like seals or logos.
Once a consumer clicks on an advertising link on one of these sites, they may be victimized in a number of ways.
The most common type of scam involves asking homeowners for up-front fees in exchange for assistance with mortgage modifications that never come to pass.