President Ali to address Caribbean Investment Forum in UAE
President Dr. Irfaan Ali will deliver the keynote address at the Caribbean Investment Forum (CIF2022) and the Global Business Forum LATAM that gets underway in the United Arab Emirates (UAE) on Tuesday
A statement from the Office of the President, said that Ali, who is leading a three-member delegation, is attending the two-day conference, which is being hosted by the Barbados-based Caribbean Export Development Agency, in association with the Caribbean Association of Investment Promotion Agencies (CAIPA).
CIF2022 is a high-level event that will present a range of investment opportunities in AgTech, Hotel and Resort Development, Fintech, Logistics and Transportation.
According to the organisers, the event will feature discussions on “Doing Business in the Caribbean’ and ‘Caribbean Investment Opportunities.’ Information on investing in strategic sectors in the Caribbean, while specific projects will be highlighted.
The statement said President Ali is expected to discuss Guyana’s efforts to support economic diversification, including investments in non-oil sectors such as manufacturing, trade and agriculture. He will also highlight the country’s future plans.
UAE Minister of State for International Cooperation, Reem Al Hashimy, is expected to share lessons from her country’s decades of growth, based on the management of oil resources and deliberate efforts to sustain long-term prosperity of the country through diversification.
She will also explain the role of Expo 2020 in further diversifying the economy by building economic partnerships and boosting international cooperation with countries in Latin America and the Caribbean, the statement said.
President Ali will also participate in the Global Business Forum LATAM, which will also be attended by several regional leaders, including Brazilian President,Jair Bolsonaro and his Colombian counterpart, Ivan Marquez.
The forum is expected to explore how the Gulf Cooperation Council (GCC) and Latin America and the Caribbean (LAC) can bolster each other’s economies in the post coronavirus (COVID-19) pandemic.
Source- CMC
Russians have in excess of two billion US dollars in Bahamas financial institutions
The Central Bank of the Bahamas (CBB) says international banks and trust companies operating here have in excess of two billion US dollars “in custody or trust assets” with ultimate beneficial owners from or connected to Russia.
In a statement, the CBB said that earlier this month, the Group of Financial Services Regulators of The Bahamas issued a directive to Bahamian financial institutions against doing business with sanctioned persons and entities of Russia and Belarus.
The move follows Moscow’s decision to launch an invasion of Ukraine with European Union, the United Kingdom and the United States leading the sanctions against Russia.
In the statement, the CBB sad following the local regulator’s call, it has received several enquiries from the press on the amount of Russian business in the jurisdiction’s banks and trust companies.
“As an extension of its regular surveillance, the Central Bank has gathered data from international banks and trust companies on their level of Russian business activities. The results of this exercise indicated as at 28th February 2022, this sector held approximately US$420 million in deposits and US$2.5 billion in custody or trust assets with ultimate beneficial owners from or connected to Russia,” the CBB said.
It noted that the greatest proportion of Russian exposure would be linked to the international sector. “However, the Central Bank is currently canvassing domestic financial institutions – that is the commercial banks, money transmission business and electronic money service providers – to ascertain any level of exposure within those sectors.”
The CBB said that the information it has disclosed “are aggregates for the international banking and trust sector, and not specific to any sanctioned interests”.
Earlier this month, the government warned local companies to be very cautious when conducting business with any Russian entity even as the main opposition Free National Movement (FNM) called on the government to act more decisively in the interest of sovereignty.
A statement from the Cabinet Office said the issue of sanctions had been discussed and “we are in consultations with all our partners and stakeholders, both domestic and international. This remains an evolving matter.
In the meantime, we are advising all entities within The Bahamas that they ought to deal with appropriate caution in respect of any transactions in our country with Russian individuals and entities who have been sanctioned by the United States, EU, Canada and the United Kingdom,| the statement said, adding “we continue to deplore the attack on Ukraine by the Russian Federation”.
The US Embassy in Nassau has urged The Bahamas to limit Russia’s access to the Bahamian financial system and to restrict this country’s airspace to Russian aircraft.
Source- CMC
Kidnapped US Citizen found at a hotel
Police say a 29-year-old United States citizen is assisting their investigations into reports that he had been kidnapped, but later found at a hotel in the capital on Sunday night.
In a statement, the police said relatives of Rohan Kirpaul had reported him missing five days earlier and had offered a one million dollar (One Guyana dollar=US$0.004 cents) reward for is return.
Rohan Kirpaul Mangra
The relatives had also provided the police with a photograph of Mangra showing his mouth covered with duct tape which they said was sent to them via WhatsApp from an unknown person.
The police had also detained several of Mangra’s associates for questioning and acting on intelligence, went to a hotel in the capital where officers found Mangra.
Mangra, when questioned by investigators, said he was not abducted and he went to the hotel of his own free will and is assisting the police with their investigation.
Source- CMC
Strengthening of Strategic ties between the Turks and Caicos Islands and the Dominican Republic
The Ministry of Health and Human Services in collaboration with the Ministry of Home Affairs, Transportation, Broadcasting, Energy and Utilities and Telecommunication Commission led a delegation to Santo Domingo, Dominican Republic to discuss ways in which the Ministry of Health and Home Affairs can strengthen the strategic ties between the two countries. During the two-day visit, the delegation met and held discussions with the Minister of Consular Affairs Dr. Jatzel Román, and Minister of Health Dr. Daniel Rivera.
On Monday 14th March 2022, Honourable Otis Morris led discussions between the Dr. Jatzel Roman, Deputy Minister for Consulate Affairs on their acceptance of emergency travel documents from Turks and Caicos Islands for treatment abroad patients. This document provides a single-journey, which allows the bearer to return home or, exceptionally, to another destination, in the event they do not have access to their regular travel document, because it was lost or stolen.
This was the first-time issues of this nature were discussed between both countries. A proposal will be presented to the Government of the Dominican Republic for review and further discussions.
The Minister for Home Affairs, Hon. Otis Morris expressed that “My ministry holds the main responsibility for travel documents, and continues to do its utmost to bring about change whilst assisting with treating abroad matters”. He further stated that “ -As a country we remain cognizant that while emergencies can happen at any time, the emergency travel document will only be used to facilitate persons travelling without being in possession of a valid passport.
The Ministry of Home Affairs will continue to communicate further with the Ministry of Consulate Affairs in the Dominican Republic to further advance their acceptance of the emergency travel document.
On Tuesday 15th March 2022, Honorable Jamell Robinson led discussions with the Minister of Health - Dr. Daniel Rivera of the Dominican Republic concerning the return of human remains of individuals who would have succumbed to Covid-19 in the Dominican Republic. Discussions were also held regarding the strengthening of a better relationship between the Dominican Republic and the Turks and Caicos Islands for the betterment of healthcare and services being offered to the people and residents of the Turks and Caicos Islands.
A line of communication will be established and an agreement presented for review, consultation and finalization between the two countries.
The Minister of Health and Human Services Honorable Jamell Robinson commented “The mission to the Dominican Republic was a huge success as we were able to come to an agreement in principle regarding the handling of human remains of residents of the Turks and Caicos Islands whom passed with Covid-19. I would like to thank Hon. Dr. Daniel Rivera, Minister of Health and his team for receiving our delegation consisting of myself, team health, Hon. Otis Morris, team Home Affairs, and Hon. Belliard whom played a pivotal role in organizing the visit. The discussions were fruitful and both countries have a better understanding of each other. "
The delegation consisted of Honourable Jamell Robinson, Honourable Otis Morris, Honourable Willin Belliard, Permanent Secretary, Mrs. Desiree Lewis, Deputy Permanent Secretary, Mr. Fredrico Johnson, Acting Deputy Permanent Secretary, Ms. Cynara John, Acting Head of Secretariat, Mrs. Gardé Alleyne-Jones and Deputy Chairman of the National Health Insurance Board, Mrs. Carla Blake-Thomas.
Statement by the President of the Political Council of UKOTA on UK OTs implementation of sanctions against Russia
The Governments of the United Kingdom (UK) Overseas Territories have followed with horror Russia’s invasion of the sovereign democratic state of Ukraine. The Overseas Territories are in solidarity with the UK and the international community in denouncing Russia’s military action against Ukraine.
In response to Russian military action against Ukraine, the UK Government has imposed a series of sanctions against Russia, targeting its financial sector and the assets held by Russian politicians and oligarchs. The Overseas Territories have acted swiftly to fully implement the UK sanctions against Russia that have been extended to them, through Orders in Council or applied through domestic legislation. The Overseas Territories are committed to continuing to uphold the highest international standards of transparency and accountability.
The Premier Honourable Charles Washington Misick is the current President of the United Kingdom Overseas Territories Association (UKOTA) Political Council with Ms Tracy Knight, UK Representative for the Turks and Caicos Islands Government (TCIG) and head of the TCIG London Office serving as UKOTA Chairman.
The main work of UKOTA is representing the collective view of the Overseas Territories through dialogue and contact with the Foreign Commonwealth and Development Office and other UK Government Departments; both at official and Ministerial level.
The Territories represented on UKOTA are: Ascension Island, Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Falkland Islands, Gibraltar, Montserrat, Pitcairn, St Helena, Tristan da Cunha and Turks and Caicos Islands.
Joe Root admitted he could have been "a bit braver" with his declaration
Root left his side two sessions to take 10 wickets on the final day by setting the hosts 282 in 65 overs.
But West Indies did not attempt the chase, captain Kraigg Brathwaite making 56 not out as they batted for a draw.
"It's frustrating not to win, but the way we played was a brilliant effort on a very placid surface," said Root.
"We could have maybe been a bit braver with the declaration, but it feels like a faster scoring ground here," added England captain Root.
"I thought they might have a little go [at chasing], but it wasn't the case."
England took three early wickets and Jack Leach claimed a further two after tea, but England were thwarted by Brathwaite's 184-ball knock - which followed his 11-hour century in the first innings - and the hosts ended on 135-5.
In a similar situation in the first Test, Root declared to set West Indies 286 in 71 overs only for his bowlers to come up six wickets short, but in Barbados he waited even longer to call his team in.
The failure to dismiss the hosts, albeit on a slow pitch and up against Brathwaite's resilient knock, means England's winless run stretches to seven Tests.
"Maybe we could have pulled out 10 overs earlier, but defending 240 in 70 overs might be a big ask for any side on that wicket," Root said.
"We didn't try to go for a miracle win in 30 overs, making sure we had 340 on the board, but I suppose the more confident you get, the braver you might get with those decisions.
"The most important thing is to keep finding ways of giving ourselves a chance to win Tests because we are finding positions where we're on top and commanding the game."
Source- BBC
Centricus bid to buy club intends to 'maintain existing management'
Global investment firm Centricus is funding another British bid to buy Chelsea, saying it wants to "maintain and support existing management".
The Premier League club was put up for sale by Russian owner Roman Abramovich before he was sanctioned following his country's invasion of Ukraine.
This latest bid, backed by Centricus - which has £29bn in assets - features several Chelsea season-ticket holders.
At least four other consortiums have said they have bid to buy the Blues.
There is a group featuring Sir Martin Broughton and Lord Coe, and one headed by British property investor Nick Candy.
United States interest comes from the Ricketts family, while a group consisting of Swiss billionaire Hansjorg Wyss and Los Angeles Dodgers part-owner Todd Boehly has also bid.
There are also reports that a bid from Saudi Media Group has been lodged, with the American investment firm Raine Group handling the sale.
It is understood that those bidding will be whittled down to a short list this week with a sale expected before the end of the month.
Centricus co-founder Nizar Al-Bassam and chief executive Garth Ritchie are heading the bid, which also includes hedge fund manager Jonathan Lourie of Cheyne Capital and Bob Finch of Talis Capital.
In a statement, the group said it "will be committed to supporting [Chelsea] and its key stakeholders to ensure its continued success".
It added: "Our financing for the deal includes funding for the completion of the transaction and funding for working capital required for the day-to-day operations of the CFC Group, funds required to maintain an elite global brand, investment in grassroots and in-community football initiatives such as the Chelsea Academy, the Women's Team, the Youth Development Program and the Chelsea Foundation and strategic real estate investment.
"The intention is to maintain and support existing management on both the business and sporting operations of the CFC Group. We intend to maintain the existing strategy direction.
"Clearly, the CFC Group has been operating in challenging conditions and we appreciate the importance for the CFC Group, the fans and other key stakeholders of ensuring a smooth and stable ownership transition.
"During this transition period and thereafter, we will ensure that we have frequent and open dialogue with all key stakeholders which underpins our long-term commitment to the CFC Group and its continued future success.
"If our offer is successful, Centricus would be focused on ensuring that the CFC Group continues to achieve sporting excellence, high level of community support, transparent governance, financial sustainability, fan engagement and exemplary custodianship."
Former Chelsea captain John Terry has also lent his support to a group which wants to buy 10% of the club "to make sure whoever buys Chelsea is held accountable by fans."
The True Blues consortium is being advised by Oakvale Capital and has support from Chelsea Supporters Trust, Chelsea Pitch Owners and former Chelsea and England full-back Claire Rafferty.
Terry said: "Chelsea has been such an important part of my life for 22 years. I want to see the club's history and heritage protected as we go into a new era with like-minded people who have the same long-term vision of building the best football club in the world and understand how important our DNA is."
Source- BBC
Ed Sheeran and Camila Cabello to perform at UK's Concert for Ukraine benefit
It looks as though Ed Sheeran and Camila Cabello may have an opportunity to perform their new duet, "Bam Bam," live on stage next week.
Both stars have been announced as performers at Concert for Ukraine, a two-hour fundraising event taking place in Birmingham, England on March 29 and airing on Britain's ITV. Proceeds will go to the Disasters Emergency Committee's Ukraine Humanitarian Appeal.
Other acts on the bill include "Next to Me" singer Emeli Sandé and the band Snow Patrol, which features Ed's bestie and frequent collaborator, Johnny McDaid. More artists will be announced in the coming days.
Tickets for the concert at Resorts World Arena in Birmingham go on sale tomorrow.
Source- ABC
"I said counsel Kanye, not cancel him": Trevor Noah seemingly responds to Grammys banning 'Ye performance
On Twitter, The Daily Show host Trevor Noah seemingly responded to the Grammy Awards' decision to remove Kanye West from its list of performers for the April 3 show.
"I said counsel Kanye not cancel Kanye," said the comedian, who returns as host this year.
West's rep confirmed to People that the awards show banned the Donda rapper over his "concerning online behavior," despite his five nominations this year.
The defense of West from Noah is significant, not only because he's hosting again this year, but because at least one example of Ye's "concerning online behavior" targeted Noah. Last Wednesday, Kanye was suspended from Instagram for 24 hours for violating the platform's policies on hate speech and bullying and harassment for posting an apparently racist dig at Noah, after he voiced concern on The Daily Show about West's constant posts about his ex-wife Kim Kardashian and her relationship with Pete Davidson.
Noah, who grew up with an abusive father, said in part on his show,"What Kim is going through is terrifying to watch, and it shines a spotlight on what so many women go through when they choose to leave."
The Daily Show host later said in an Instagram story that Kanye's recent behavior "breaks my heart," adding, "I don't care if you support Trump and I don't care if you roast Pete. I do however care when I see you on a path that's dangerously close to peril and pain."
Noah said West remains an "indelible" part of his life, but commented, "I've woken up too many times and read headlines about men who've killed their exes, their kids and then themselves. I never want to read that headline about you."
Incidentally, West may have deleted all of his Instagram content: His feed showed zero posts as of Monday morning.
Source- ABC
Moscow stock market reopens for some bond trading
The Moscow stock exchange has partially reopened after a nearly month-long suspension over the war in Ukraine.
Only bonds issued by the Russian government can be traded as part of a phased re-opening of the market.
The exchange closed hours after Russian President Vladimir Putin sent thousands of troops into Ukraine on 24 February.
Andrei Braginsky, a spokesman for the Moscow Exchange, said he hoped that trading in stocks would be able to start again soon.
"Technically everything is ready, and we are hoping this will resume in the near future," he said.
The market reopened at 13:00 (10:00 GMT) but only for OFZ bonds - the Russian acronym for Federal Loan Obligations.
In pre-market trading, yields on those government bonds rose by almost 20% - the highest on record. A higher yield means the government will have to pay more to borrow and indicates the investment is more risky. The yield later settled close to 13% after trading began.
Central Bank governor Elvira Nabiullina said on Friday the bank would maintain its key interest rate at 20% and would purchase government bonds to limit volatility.
Meanwhile, oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 a barrel.
Prices moved higher after reports that the EU was considering whether to join the US in imposing an oil embargo on Russia. The European Commission said earlier this month it aimed to make Europe independent from Russian fossil fuels "well before 2030".
The invasion of Ukraine, and sanctions imposed by western governments, are taking a toll on the Russian economy.
The Russian rouble was steady against the dollar on Monday, trading at 104.83 RUB. However, it is down by about a quarter since the start of the invasion.
Some supermarkets are rationing sales of basic goods such as salt and cooking oil.
Thee central bank more than doubled interest rates to 20% four days after the start of Moscow's military action in Ukraine. The continuation of the conflict and ratcheting up of sanctions have undermined confidence further.
There have been concerns about Russia defaulting on its debt, but it paid $117 million in interest on two dollar-denominated bonds last week.
Source - BBC