Dominica, Montserrat latest OECS countries to roll out DCash digital wallet
Dominica and Montserrat have become the latest countries to launch the Eastern Caribbean Central Bank (ECCB) backed DCash pilot programme as a payment system in the sub-region.
Digital Economy Minister, Cassani Laville, said as payment systems continue to develop and expand, Dominica will do all it can to “foster the use of online payments that safeguards the consumers from online predators”.
The ECCB in March rolled out the digital version of the EC dollar in four of the eight-member Eastern Caribbean Currency Union (ECCU) member states, namely Antigua and Barbuda, Grenada, St. Kitts-Nevis, St. Lucia and in August did so in St. Vincent and the Grenadines.
With the launch on Tuesday in Dominica and Montserrat, the ECCB said that the remaining member country where DCash will be launched is Anguilla.
“The Eastern Caribbean Central Bank truly believes that the payment system should work for all, except for illicit actors,” said ECCB Governor, Timothy N.J. Antoine said, addressing the justification for creating the DCash Central Bank digital currency.
“That means it must work for small states and small businesses,” he said, while noting that “payments are too slow and too expensive”.
The free DCash app on the Apple App Store and Google Play Store enables users to send and receive money from their family members, friends or customers who live in the same country or in any other Eastern Caribbean country where DCash has been launched. DCash transactions are processed in real time, with no transfer fees during the pilot project.
DCash, which can be used with or without a bank account, is aimed at achieving three policy goals: payments system efficiency, financial inclusion of the unbanked and under banked populations, and increased resilience and competitiveness in the ECCU.
Laville said Dominica is embarking upon comprehensive cybercrime security programmes to include policy legislation and regulation through the digital transformation project.
“Additionally we will invest in the infrastructure and capacity to mitigate cyber threats, to address cyber emergencies and restore information technology operations in the event of natural or man-made destruction as quickly as possible.”
Laville said Dominic “wholeheartedly embraces the launch of DCash and I encourage merchants, consumers, especially in Dominica, in Montserrat and other participating countries to sign on and use this service”.
He described the app as being ‘quite friendly’ emphasising also the need for continued education for consumers of the use of technology used in the banking sector.
Antoine said that “DCash is an important instrument in what is really the bigger conversation about the buildout of a digital economy for our currency union.
“Our single largest asset as a Central Bank is trust, and therefore we believe we have an obligation to leverage that trust to help build out the digital economy – and we locate DCash as an important advance in the ultimate digitalisation of our economy and society.”
Source-CMC
Bermuda buys new fleet of electric buses from China
Transport Minister Lawrence Scott announced Wednesday that the island’s first electric buses from China are expected to be on the roads by next spring.
“I am very excited to announce that the project has progressed despite global supply chain issues. We anticipate that the buses will be arriving on three shipments over the next few weeks,” Scott said, without disclosing the price tag for the 30 buses.
He said commissioning the new buses and training staff meant they would be expected to go into service next spring.
“The Department of Transportation is recruiting additional bus operators which will ensure that we have the resources required to provide a reliable and consistent bus service,” he said.
The buses were manufactured by the Golden Dragon Bus Company in China. The company has completed pre-delivery inspections and is preparing the buses to be shipped from Shanghai to Bermuda.
“The initial request for proposal for the new electric buses envisioned transitioning the entire bus fleet to electric over 10 years,” Scott said.
Bermuda’s bus service has also been hit by an ageing fleet plagued with breakdowns and delays to repairs because of overstretched maintenance crews resulting in daily cancellations of scores of routes across the island.
Source-CMC
WBC heavyweight champion, Tyson Fury, to face Dillian Whyte in title defence
Tyson Fury has been ordered to defend his heavyweight title against British rival Dillian Whyte.
The World Boxing Council has named Whyte as Fury's mandatory challenger and the two parties have 30 days to agree a deal.
Fury retained his title with an 11th-round stoppage of Deontay Wilder in their third fight on 9 October.
Fury-Whyte is likely to take place in February or March next year, with Cardiff or Manchester potential venues.
After beating Wilder in Las Vegas, Fury had a 30-day window to set up an clash for the undisputed title with Oleksandr Usyk, who beat Anthony Joshua in September to take the WBA, IBF, WBO and IBO belts.
However, Joshua triggered a rematch clause with the Ukrainian, leading to Whyte being called as Fury's mandatory challenger.
Source - BBC
Nick Cannon's youngest son passed away
In a very emotional announcement, Nick Cannon revealed Tuesday on his television show that his five-month-old son Zen Scott Cannon passed away over the weekend.
Zen died Sunday from brain cancer. Nick explained that he took Zen to the ocean to enjoy the sunrise, and he described "holding his son for the last time."
"I have so much faith in God," the talk show host said before a live audience. "He puts the heaviest weight on His strongest soldiers. So I am here. I'm gonna make it through."
Nick left his family in California to fly to New York City for his television program.
"This is a special show dedicated to my beautiful son," he proclaimed as tears welled in his eyes.
The 41-year-old entertainer told the audience that his son developed fluid in his head, and doctors discovered that he had a malignant tumor, which led to brain surgery.
"I embraced every moment," Cannon said of his short time with Zen. "I am so grateful to my family for coming together during this time."
Zen, whose mother was model Alyssa Scott, was the youngest of Nick's seven children.
Source - ABC
Bitcoin inventor won a court case allowing him to keep his 1m Crypto cache
A computer scientist who claims he invented Bitcoin has won a court case allowing him to keep a cache of the cryptocurrency worth billions of dollars.
A jury rejected claims that Craig Wright's former business partner was due half of the assets.
As a result Mr Wright will retain 1.1m Bitcoin, worth $54bn (£40bn).
However he will pay $100m to the family of Dave Kleiman for intellectual property infringement.
The family of Mr Kleiman, a computer security expert who died in 2013, said that the two men had worked together to create and mine the first Bitcoin in existence, and that Mr Wright had stolen it.
The invention of the cryptocurrency in 2008 was described in a white paper published under the pseudonym Satoshi Nakamoto.
Since 2016, Mr Wright has claimed that he is Nakamoto, though that claim has been disputed.
The Miami jury in the civil lawsuit cleared Mr Wright on nearly all issues brought by the family of Mr Kleiman.
In a statement, lawyers for W&K and Kleiman's estate said they were "immensely gratified" that the jury awarded the $100m in intellectual property rights, and help give the Kleimans "their fair share of what Dave helped create."
Mr Wright said the legal ruling confirmed he was the creator of the revolutionary digital asset.
"The jury has obviously found that I am because there would have been no award otherwise," he said.
"This has been a remarkable good outcome and I feel completely vindicated," Mr Wright said.
Source - BBC
Several Complaints have piled up against Tesla causing US authorities to act
US authorities are investigating Tesla over an alleged failure to disclose fire risks with its solar panels, according to reports.
A complaint from a whistleblower prompted the US Securities and Exchange Commission (SEC) to investigate.
Steven Henkes, a former field quality manager for Tesla, alleges the company failed to properly notify shareholders and the public about the risks.
Tesla solar systems have been known to catch fire in a small number of cases.
Mr Henkes's complaint, filed more than a year ago, alleged Tesla had failed to properly disclose defects with some electrical connectors could cause fires and instead told customers it had had to carry out maintenance to prevent a problem shutting down the solar-panel systems.
"We have confirmed with Division of Enforcement staff that the investigation from which you seek records is still active and ongoing," the SEC told Mr Henkes, in a letter the Reuters news agency said it had independently verified.
The SEC made clear in its letter the investigation should not be taken as confirmation there had been any legal violations.
Mr Henkes was fired from Tesla and sued the company over his dismissal.
Shares in the company fell by more than 6% shortly after news of the SEC's investigation was published, though they have since risen again slightly.
Alleged fire safety issues with Tesla's solar panels have been reported before.
In 2019, US retailer Walmart sued Tesla over fires at seven outlets where the panels had been installed.
The legal action was later dropped, following a settlement agreement.
Tesla abolished its public-relations department in 2020, so could not be contacted for comment.
Source - BBC
Biden warns Putin of 'strong measures' amid Ukraine invasion fears
The US says it is preparing "robust responses" over fears of a Russian invasion of Ukraine, after Joe Biden and Vladimir Putin spoke on Tuesday.
In a video link, President Biden voiced deep concerns over Russian troop build-ups and threatened "strong economic and other measures", Washington said.
Russia says it will not attack Ukraine.
President Putin accused Ukraine of provocation, and sought guarantees against eastward Nato expansion and deployment of weapons close to Russia.
The talks began at 10:07 US Eastern time (15:07 GMT; 18:07 Moscow time), the White House said.
They were held on a secure video link set up under previous administrations but never used before, Russian news agency Tass said.
Video footage of the opening moments showed friendly greetings between the US and Russian leaders. The talks then continued behind closed doors, lasting about two hours.
Mr Putin held the talks from his residence in the southern resort of Sochi, according to Tass.
After Tuesday's video call, US National Security Adviser Jake Sullivan told journalists Washington was preparing specific robust responses in the weeks ahead if they were required.
"Things we did not do in 2014 we are prepared to do now," he said, referring to Western responses to Russia's annexation of Crimea.
"There was a lot of give and take, there was no finger-wagging, but the president was crystal clear where the United States stands on all of these issues," he added.
The measures included economic sanctions and other actions such as additional troop deployments to Nato allies in the region and defence materiel for Ukraine.
He refused to be drawn on what the economic measures might be, saying the US would prefer to communicate them directly to the Russians.
But he said that Nord Stream 2, a new pipeline to Germany which is not yet in operation, provided "leverage" for the US and its allies.
"If Vladimir Putin wants to see gas flow through that pipeline, he may not want to take the risk of invading Ukraine," he said.
Earlier reports said US officials had reached agreement with Germany to shut down the pipeline in the event of an invasion.
Other possible measures include restrictions on Russia's banks converting roubles into foreign currencies, or even disconnecting Russia from the Swift global financial payment system, reports say.
Source - BBC
Guyana Government denies ill treatment of indigenous people
The Guyana government Tuesday said that it will “always respect the views of our Indigenous peoples” as it disagreed with statements made by the Deputy Speaker of the National Assembly, Lennox Shuman, that the Irfaan Ali administration was not consulting with indigenous leaders.
“I must share my profound disappointment at the position taken by Deputy Speaker of the National Assembly,,” Prime Minister retired Brigadier Mark Phillips said in a statement, saying that in his letter published in the local media that Shuman, who is also the leader of the he Liberty and Justice Party, “departs from facts to unfairly and erroneously suggest” that the People’s Progressive Party/Civic (PPP/C) government “is not open to dialogue with regard to the development of the Indigenous peoples of Guyana”.
Shuman’s latest criticism of the government stems from an agreement that it signed with a Canadian-based gold company for prospecting work to be done in Murudi, in the deep South Rupununi region.
Residents and Community leaders have complained about not being consulted about the project and being left out completely in the decision-making.
In a statement, Shuman criticised the government for not facilitating any meaningful dialogue with Indigenous Peoples on the Marudi Mountain gold mining agreement.
He wants the agreement revoked and for discussions to be held with the villagers and community leaders.
“It is my informed view that the Government of Guyana under the Peoples Progressive Party (PPP) has zero inclination to meaningfully consult the Indigenous Peoples on any matter. It is also my informed view that they intend to throw money at the problems the Indigenous Peoples face instead of genuinely trying to find comprehensive solutions to address them. By addressing the issues comprehensively, it empowers Indigenous Peoples which poses a problem to the PPP and that is far removed from the MO and intent of the PPP,” Shuman said.
But Phillips said that “not only is this position inconsistent with the well-established track record of the PPP/C when it comes to Amerindian development throughout its tenure in office, but it runs counter to the goodwill and good faith he and I shared in our most recent engagement”.
Phillips recalled that on October 25, he and Shuman “cordially discussed several matters related to indigenous peoples’ development and the Government’s approach to bridging the digital divide and eliminating the disparity in quality of life between our hinterland and coastland.
“In his own words, after that interaction, Mr. Shuman publicly declared on Facebook: “The Prime Minister iterated his government’s commitment to taking steps to ensure Indigenous Peoples are part of the development of Guyana under the One Guyana framework and that the infrastructural needs are critical to such future plans along with ICT access among others. He was also very receptive to ideas put forth on advancing initiatives that will enhance IP’s [Indigenous Peoples] presence and participation in Guyana”.
“It is now an enigma that only a few weeks later, Mr. Shuman has taken a position in absolute contrast and contradiction to the facts when even in his published letter to the editor, he admits to being consulted on numerous occasions and his suggestions considered”.
Phillips said that “our Indigenous brothers and sisters form a significant part of our country’s history and will most certainly be a part of its future and development through a considerate and consultative mechanism, as has been consistently demonstrated by successive PPP/C Governments.
“The PPP/C Government will always respect the views of our Indigenous peoples,” he added.
Shuman, who is also an Aviation Advisor to the government recently claimed that his job as Aviation Advisor was under threat because of his criticisms of the government.
Source - Cananewsonline
Pope condemns treatment of migrants in Europe
The Pope has denounced "narrow self-interest and nationalism" over the way European countries treats migrants.
Speaking on the Greek island of Lesbos, Pope Francis called the neglect of migrants the "shipwreck of civilisation".
The Pope first visited Lesbos in 2016, when it was a major entry point for people trying to reach Europe.
Since then, new flashpoints have emerged and the Pope expressed regret that little had changed.
Last month 27 people died when their inflatable dinghy sank in the Channel between France and the UK. The number of people attempting the crossing has been growing, with more than 26,000 people arriving in the UK so far this year, more than double last year's total.
Several people have also died in freezing temperatures attempting to cross into Poland from Belarus, which denies accusations it has been orchestrating the crisis at its border to destabilise the EU.
"In Europe there are those who persist in treating the problem as a matter that does not concern them - this is tragic," Pope Francis said.
"History teaches us that narrow self-interest and nationalism lead to disastrous consequences."
The pontiff was speaking at a temporary camp housing about 2,000 asylum-seekers, which replaced the overcrowded Moria camp that was destroyed in fires last year.
While the coronavirus pandemic had shown that major challenges had to be confronted together and there were some signs of this happening on climate change, there was little sign of such an approach to migration, he said.
"It is easy to influence public opinion by instilling fear of the other," Pope Francis said.
"The remote causes should be attacked, not the poor people who pay the consequences and are even used for political propaganda."
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This was a speech delivered in front of refugees but aimed squarely at political leaders across the European continent. The Pope's words betrayed frustration at what he sees as the failure of politicians to adequately address the migrant issue.
His message of compassion for asylum seekers is not new but his language on Lesbos was exceptionally forthright.
Pope Francis was speaking against the backdrop of pushbacks of migrants at sea - including close to Lesbos - and on European land borders, as well as the erection of fences to prevent them reaching the EU.
The number of people entering Europe reached a high point in 2015, when more than a million people fleeing the Syrian civil war and other crises made the journey.
Francis said he understood that there was a lot of "fatigue and frustration" over migration that had been exacerbated by the pandemic, but warned that without change there was a risk that civilisation itself would find itself "shipwrecked".
"Let us eradicate the prevailing mentality revolving around our ego and personal and national egoisms which determine every decision we take," he said.
Greek President Katerina Sakellaropoulou, who was accompanying Francis, said the migration issue was the responsibility of all Europe, not just Greece.
More than 8,000 people have crossed into Greece by land and sea this year, down from about 15,000 last year and about 75,000 the previous year, according to EU figures.
Greece is building closed camps on several islands to house asylum seekers until their claims are processed. It denies that Greek coast guards push back migrants at sea, insisting that they are saving lives.
British Home Secretary Priti Patel has cited the Greek pushbacks as a possible model for the UK to push back migrant boats in the Channel.
Source-BBC
Selfridges set for £4bn sale to Thai retail giant
Luxury department store group Selfridges is set to be sold to a Thai conglomerate for up to £4bn.
The UK retailer owns 25 outlets, including a huge flagship store in London's Oxford Street, and branches in Dublin, the Netherlands and Canada.
Selfridges' owner, the Weston family, agreed sale terms with Central Group in the last few days, according to the Times, which first reported the deal.
Selfridges was founded in 1908 by US retail magnate Harry Gordon Selfridge.
It has been owned by the billionaire Westons for 18 years.
The Weston family put the chain up for sale in June, a few months after the death of Galen Weston, who oversaw the move to take the department store private in 2003.
The family control Selfridges through Wittington Investments Ltd, in Canada, which is separate from the UK arm of the same name that owns a large stake in Primark-owner Associated British Foods.
Central Group is a family-owned conglomerate that started in Bangkok but went global when the founder's son, Samrit Chirathivat, opened Thailand's first department store in 1956.
It now has 3,700 shops around the world, from supermarkets to electronics outlets, and department stores in Europe.
Central Group's non-executive director Vittorio Radice ran Selfridges between 1996 and 2003 and has been managing a department store in Italy since 2006. His role includes responsibility for expansion in Europe.
A division of the group, Central Retail, sparked confusion about whether a Selfridges sale had fallen through when it issued a short stock exchange announcement that it was "not currently involved" with a deal.
However, it is understood the Westons, one of Canada's richest families, are in talks with a different arm of the giant Central Group company.
It is unclear why the family has decided to sell, although like many retailers the business has suffered during lockdown and the absence of high-end tourists in city centres.
The business had sales of almost £2bn in the year to February 2020, but when more recent accounts are published they are likely to show a big fall.
Selfridges declined to comment, and Central Group could not be reached.
Source - BBC