U.S. Delegation Arrives in Guyana for Caribbean Basin Security Initiative (CBSI) Commission Meeting
A U.S. delegation will arrive in Guyana this week to participate in the October 13-14 Second Meeting of the Caribbean Basin Security Initiative (CBSI) Commission. Headed by Deputy Assistant Secretary for the Caribbean and Central America Julissa Reynoso, the U.S. delegation is comprised of 14 members, including representatives from the State Department’s Bureau of Western Hemisphere Affairs, the Bureau of International Narcotics and Law Enforcement, and other inter-agency partners including USAID, the Department of Defense’s Southern Command, and the Departments of Justice and Homeland Security. The CBSI Commission Meeting, hosted by the government of Guyana, will convene CBSI partners to discuss preparations for the Second Caribbean-United States Security Cooperation Dialogue, scheduled for November 10, 2011, in Nassau, The Bahamas.
In Guyana, the CBSI partnership focuses on addressing social, law enforcement, and security challenges from international crime through increased maritime interdiction capacity; law enforcement training and equipment; countering money laundering and other financial crimes; and youth development through training and job skills development.
The First Meeting of the CBSI Commission was held in November 2010 in Kingston, Jamaica. The CBSI Commission meetings are designed to coordinate local, national, and regional security and crime prevention activities and policies. These technical working groups ensure effective and efficient implementation of programs, identify future program and policy needs, and inform policymakers.
CBSI fulfills the commitment to deepen regional security cooperation that President Barack Obama made at the Fifth Summit of the Americas, held in Port of Spain, Trinidad and Tobago, in April 2009. By working together through the CBSI to substantially reduce illicit trafficking, increase public safety and security, and promote social justice, participating nations will increase citizen safety throughout the Caribbean.
CIBC FirstCaribbean To Provide Customers with Global Investment Management Expertise
CIBC FirstCaribbean’s customers in TCI now have more investment opportunities with the launch of CIBC AXIOM Portfolios, a new addition to CIBC FirstCaribbean’s wealth line-up that will further expand the bank’s offering to investors.
Addressing potential investors at The Veranda Resort recently, Country Manager Sherma Hercules said, “CIBC FirstCaribbean International Bank continues to find innovative solutions for its customers, who over the past few months have suggested that we make a number of operational adjustments to our Private Banking and Platinum Services. We are therefore pleased to introduce the CIBC AXIOM Portfolios; a premium investment product which has been doing extremely well since its inception on May 12, 2010.”
CIBC AXIOM Portfolios provide access to t
he accumulated knowledge and expertise of professional managers from around the world. These relationship teams are carefully selected and monitored by the CAMI Investment Management Services due diligence team. With a mix of equity and fixed-income options, the AXIOM Portfolios represent a valuable product that can enhance the investment strategy of any client, no matter their risk tolerance.
Ms. Hercules added, “The effects of inflation on wealth are a significant concern for our investors so the Portfolios were designed to maximise their potential for return, while staying within their risk tolerance level. Our clients can decide to do it themselves - choosing the right asset mix, building their portfolio of mutual funds, reviewing it regularly, and rebalancing it - or they can leave the responsibility to leading investment managers by selecting one of our portfolio solutions.”
Featured speaker Shelly McClean, Executive Director, Strategic Alliances Renaissance Investments, provided a detailed overview of the benefits of AXIOM Portfolios, as well as advice on how to leverage the various portfolio types. Ms. McClean ensured investors that the Portfolios are rebalanced on an ongoing basis to prevent overexposure or underexposure to any one-asset class. She also informed those present that the Portfolios provide a hedge again inflation while ensuring that investors are not sidelined from growth opportunities.
CIBC AXIOM Portfolios from CIBC FirstCaribbean International Bank provide all of the features and benefits of sophisticated portfolio management while simplifying the reporting, management and administration of the client’s portfolio. AXIOM allows the client to enjoy the benefits of diversification by asset class, geographic region, investment style, and market capitalisation.
Persons who are interested in learning more about CIBC AXIOM Portfolios can contact the Wealth Management team at 941-1608.
Chris Tucker To Lose $6 Million Home
Rush Hour star Chris Tucker's $6 million Florida mansion is in foreclosure, with more than $4.4 million owed to the bank, reports the Orlando Sentinel, citing papers filed in Circuit Court in Lake County.
Tucker, 39, bought the 10,000-sq.-ft. waterfront home on Lake Apopka, near Orlando, in 2007. The newspaper says the residence contains five bedrooms, three fireplaces, a personal spa, an outdoor kitchen overlooking a pool, and a basement outfitted to resemble a pirate ship, including the sail.
Court documents reportedly show an $11.5 million IRS lien on the home in 2011 in order to collect federal income taxes from Tucker, whose monthly mortgage payment, the documents also show, was $25,812.50.
There has been no comment from Tucker, but the Times Union of Albany, N.Y., reports that his comedy show scheduled in the city for this Sunday – and was a rescheduling of a postponed Sept. 3 performance – has been canceled because of "unforeseen circumstances."
Whitney Houston Loses Cool on Delta Flight
It's been said before, and it's happened again: Houston, we have a problem.
Whitney Houston, that is, who was involved in an incident aboard an Atlanta-to-Detroit Delta flight Wednesday, a source close to the singer confirms to PEOPLE.
Houston, 48, refused to fasten her seatbelt and had words with a crewmember before she eventually was buckled up by a flight attendant before takeoff.
"She wasn't drunk, drinking or on drugs; she was just exhausted," the source tells PEOPLE.
Source:People
US Congress votes through South Korea trade deal
US lawmakers have approved a long-delayed free trade agreement with South Korea, calling it the most significant in 16 years.
Both houses of Congress voted in quick succession on Wednesday to approve the agreement, as well as pacts with Panama and Colombia.
It will now go to President Barack Obama to be signed into law.
The agreement is expected to increase US exports to the Asian economy by as much as $10bn (£6.5bn).
The free-trade deal with South Korea is the largest US trade pact since it signed the North American Free Trade Agreement in 1994.
'Made in America'
President Obama said the pacts with South Korea, Panama and Colombia were "a major win for American workers and businesses".
"Tonight's vote, with bipartisan support, will significantly boost exports that bear the proud label 'Made in America', support tens of thousands of good-paying American jobs and protect labour rights, the environment and intellectual property," he said in a statement.
The Obama administration says that pact alone will support 70,000 American jobs.
There was nearly $80bn in trade between the US and South Korea last year. The Asian country is the seventh largest trade partner for the US.
The vote coincided with South Korean President Lee Myung-bak's arrival in Washington for an official visit.
In a speech on Wednesday he said the agreement would "send a powerful message to the world that the US and South Korea stand together in rejecting protectionism and that we are open to free and fair trade".
The pact was first agreed in 2007, but concerns in the US over tariffs imposed by South Korea on US carmakers delayed the proceedings.
Source:BBC
China's trade growth decelerates amid global slowdown
China's trade growth slowed in September, raising fresh concerns about the impact of a global slowdown on its economy.
Exports rose 17.1% in September, from a year earlier, but fell from a 24.5% growth in the previous month.
Meanwhile, imports rose 20.9%, down from a 30.2% jump in August. It left the trade surplus at $14.5bn (£9.2bn).
The data comes amid fears that a slowdown in the global economy will hurt China's export-dependent growth.
Analysts warned that given the uncertainty surrounding global economic growth, China's trade may slow even further in the coming months.
"Export growth in September was much lower than market expectations, showing the spluttering external economy," said Wang Hu, of Guotai Junan Securities.
"We expect the slowing export trend to continue in the coming months," he added.
Risks
China's trade surplus fell for the second successive month in September, down from $17.8bn in August and $31.5bn in July.
The fall comes amid a heated debate on a currency bill passed by the US Senate earlier this week, which many feel is designed to punish Beijing for its weak currency policy.
China has been accused of keeping the value of its currency low in a bid to boost its exports, a move that critics say gives it an unfair advantage.
If signed into a law, the bill will give US authorities powers to impose tariffs on goods imported from China.
Authorities in Beijing have voiced their displeasure with such a bill and have even threatened that it may lead to a full-blown trade war between the two countries.
However, analysts said the latest trade figures may help ease those tensions.
"The narrowing trade surplus will reduce the risk of a world trade war," said Zhang Zhiwei, at Nomura Securities.
Domestic demand
China's economic expansion over the past few years has been powered by the success of its manufacturing and export sector.
However, analysts said the country needs to boost its domestic demand in order to sustain that growth.
There are concerns that a slowdown in the US and Europe, may hurt demand for Chinese exports.
"Going forward, the effect of weakening external demand will slow export growth to mid-to-lower teens," said Jian Chang, at Barclays.
Analysts said an increase in domestic demand may help offset a slowdown in export growth.
"The next step is to see whether China will beef up efforts to boost domestic demand," he added.
While authorities have been taking measures to prop up demand in the country, analysts said they need to act more quickly.
"The key is how fast China can implement all these measures," said Shi Lei, at Ping An Securities.
"So far, it seems very slow,"
Slovak rivals reach deal to back EU bailout fund
Political rivals in Slovakia have agreed to support a crucial bill ratifying changes to the EU bailout fund in exchange for early elections.
The bill was defeated in a first vote on Tuesday, after a coalition party and the main opposition abstained.
A second vote is expected by the end of this week after Prime Minister Iveta Radicova's coalition struck the deal with the opposition Social Democrats.
Slovakia is the last eurozone state to vote on ratifying the fund's expansion.
It is proposed to expand the effective lending capacity of the European Financial Stability Facility (EFSF) to 440bn euros ($600bn; £383bn).
The fund would also be empowered to buy eurozone government debt and offer credit lines to member states and to banks.
Top EU officials urged the country on Wednesday to ratify the bill swiftly.
"We call upon all parties in the Slovak parliament to rise above the positioning of short-term politics and seize the next occasion to ensure a swift adoption of the new agreement," European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso said in a joint statement.
Ms Radicova failed to pass the bill on Tuesday when a junior partner in her coalition, Richard Sulik's free-market Freedom and Solidarity party, refused to back it.
Freedom and Solidarity asked why Slovakia's taxpayers should be asked to help cover the debts of richer countries.
Many Slovaks feel their country - the second poorest in the eurozone - should not have to bail out countries like Greece, correspondents say.
However, the EFSF looks almost certain to pass in the second vote after four parties reached agreement on Wednesday.
"We have reached an agreement on securing the adoption of the most important document of this period - the EU bailout fund," said Robert Fico, head of the Social Democrats.
Earlier, explaining his abstention in the first vote, which helped bring down the government, he said: "We're saying 'no' to a rightist government, but we're saying 'yes' to the rescue fund."
In return for his support, Ms Radicova's coalition agreed to hold snap elections on 10 March, one of her ministers, Mikulas Dzurinda, confirmed.
"We decided that as the first point of [Thursday's] parliamentary session, we will work on a proposal to shorten the voting period, with the goal of organising an election on 10 March," he said.
"Immediately after, tomorrow or Friday, we will debate proposals related to the EFSF."
Correspondents say Mr Fico, a former prime minister, is positioned to do well at the elections because of the unpopularity of the outgoing government's austerity measures.
Source:BBC
Libya conflict: Confusion over Mutassim Gaddafi's fate
There are conflicting reports in Libya about the fate of one of ousted leader Col Muammar Gaddafi's sons.
Some figures from the National Transitional Council told news agencies Mutassim Gaddafi had been seized in the family's embattled hometown of Sirte.
However, officials in the NTC stronghold of Benghazi could not confirm the claims, which have sparked celebratory gunfire in several cities.
NTC forces say they now control most of Sirte, following fierce fighting.
Where is Gaddafi?
There have been false reports of the capture of senior Gaddafi figures in the past, including another son, Saif al-Islam, and Gaddafi spokesman Moussa Ibrahim.
But if confirmed, Mutassim Gaddafi's capture would be a major breakthrough for the NTC, says the BBC's Caroline Hawley in Tripoli.
He is a senior officer in Col Gaddafi's army and was a national security advisor to his father.
The NTC would want to question him as to the whereabouts of his father and other family members such as Saif and another son Khamis - both in Col Gaddafi's inner circle - analysts say.
Col Gaddafi is believed to be somewhere in Libya's southern deserts. His supporters are also holding out in the town of Bani Walid.
Reuters news agency quotes NTC officials as saying Mutassim was captured as he tried to escape Sirte in a car with a family. The officials said he had been taken to Benghazi and was being held in a military camp.
Col Abdullah Naker told Reuters that he had been seized on Wednesday.
NTC advisor Abdelkarim Bizama told AFP news agency that Mutassim "was captured at Sirte and was transferred to Benghazi" on Wednesday.
Mutassim Gaddafi's presence in the city, and that of several other senior figures in the former regime, is believed to be responsible for the fierce resistance the anti-Gaddafi fighters have encountered.
'Victory near'
On Wednesday the head of Libya's National Transitional Council (NTC), Mustafa Abdul Jalil, said he was optimistic they would soon declare total victory.
"I hope that liberation will be declared in less than a week, after we free Sirte," he said at a news conference with Tunisian Prime Minister Caid Essebsi in Benghazi.
"And within less than a month we will form a transitional government and the youth and women will have a role in that."
The NTC said taking Sirte would be a major step in being able to govern the whole of Libya, giving them full control of the country's ports and harbours.
Thousands of civilians have fled the city in recent weeks but an unknown number are thought to have stayed behind, facing shortages of food, medicine and drinking water.
Cars leaving Sirte are being stopped and searched at checkpoints to prevent escaping pro-Gaddafi fighters passing themselves off as civilians.
Source:BBC
California shooting: Eight killed at Seal Beach salon
Eight people have been shot dead at a hair salon in the Los Angeles area, authorities say.
The shooting took place in the city of Seal Beach, California, in a retail area off the Pacific Coast Highway.
Six people were initially confirmed dead, while two others died later of their injuries and one remains in a critical condition, police said.
Police say they have a suspect in custody after arresting a man nearby. Multiple weapons were seized.
The shooting occurred at about 13:30 PDT (21:30 GMT) at a hair salon called Salon Meritage.
Sgt Bowles said a suspect was arrested shortly after the shooting.
"The officers identified the [suspect's] vehicle as it was leaving the location," Sgt Bowles said. "They followed it and made a traffic stop and took the driver into custody."
He could not confirm local media reports that the gunman was wearing body armour, but appeared confident the man arrested was the suspect.
"He appeared co-operative, and did not resist our officers when he was detained," said Sgt Bowles said, adding: "We do feel confident at this point that we do have the single and only suspect in custody."
The motive for the shooting was still unclear.
Police from nearby towns were assisting with the investigation.
"A crime of this magnitude is not something Seal Beach is familiar with," Sgt Bowles told reporters.
Seal Beach is a beachfront city of approximately 25,000 residents, located about 30 miles (48km)south-east of Los Angeles.
It is home to a gated senior citizen community of 9,000 people, as well as the Seal Beach Naval Weapons Station military complex and a national wildlife refuge.
Apple wins battle to block Samsung tablets in Australia
An Australian court has temporarily banned the sale of Samsung Electronics' tablet computer in Australia, a victory for Apple in its global patent dispute with the South Korean company.
Apple has accused Samsung of copying its touch-screen technology for its Galaxy Tab 10.1.
The two companies are embroiled in legal battles in nine countries.
Samsung is one of Apple's biggest challengers in the smartphone and tablet industry.
The decision by the federal court threatens to hurt Samsung's position in the Australian market, as it could miss the lucrative Christmas season.
The two companies have been locked in patent disputes since April, with each accusing the other of infringing patents.
Apple has already won a victory in Germany, Europe's biggest economy, banning the sale of the Galaxy Tab 10.1. An appeal hearing is expected in that case.
Last week, Samsung said it would try to stop the sale of Apple's iPhone 4S in France and Italy, accusing the company of infringing 3D transmission patents.
Source:BBC