Monday's Forecast- November 1st, 2021
TCI WEATHER: PARTLY CLOUDY AND HOT WITH A FEW PASSING SHOWERS AND THE SLIGHT CHANCE OF AN ISOLATED THUNDERSTORM TODAY. VARIABLE CLOUDINESS WITH A FEW SCATTERED SHOWERS AND THE CHANCE OF LATE EVENING THUNDERSTORMS MAINLY ACROSS THE CENTRAL BAHAMAS THROUGH TONIGHT.
ADVISORY: SMALL CRAFT SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS OR THUNDERSTORMS.
WINDS: SOUTH TO SOUTHWEST AT 10 KNOTS OR LESS OVER OPEN WATERS.
SEAS: 3 FEET OR LESS OVER THE OCEAN.
DAYTIME HIGH TEMPERATURE 91°F 33°C
OVERNIGHT LOW TEMPERATURE 79°F 26°C
Volvo shares accelerate on stock market debut
Swedish car company Volvo is now valued at more than $22bn (£16bn) after its shares jumped in the first hours of trading of its market debut.
Volvo, majority-owned by Chinese firm Geely, offered up shares in a slice of the company on the Stockholm stock exchange on Friday.
Shares jumped from an initial 53 Swedish crowns to 65 crowns on Friday.
Volvo boss Hakan Samuelsson said funds from the float would help it achieve its goal to be fully electric by 2030.
US automotive giant Ford sold Volvo to Geely for $1.8bn in 2010, which helped turn around the Gothenburg-based brand's fortunes as it rode the wave of popularity of SUVs.
Geely will remain the largest single shareholder in the carmaker after the public listing.
"Our industry is changing and we strive to lead that transformation. That is why Volvo Cars has an ambitious strategy to become fully electric by 2030," Mr Samuelsson said on Friday.
"Today's listing will help us get there," he added.
Michael Hewson, analyst at CMC Markets, said: "Volvo's stronger-than-expected first day of trading illustrated that there was good investor demand for the company's electric vehicles plan.
"That being said, the initial valuation was at the lower end of estimates, largely over concerns about the global semiconductor shortage.".
He said Volvo's valuation was "pretty decent, even if it does pale into insignificance when compared to Tesla".
Source-BBC
Biden reflects on American leadership, progress made at G-20 ahead of COP 26
President Joe Biden reflected on progress he made with other world leaders at this weekend's G-20 summit, including ways to combat climate change, as the event wrapped up in Rome on Sunday.
Leaders of the Group of 20 countries haggled for two days in Rome over steps to tackle climate change and a pandemic recovery that is diverging between rich and poor countries.
Kicking off his first solo press conference in four months, Biden characterized his meetings over the last five days as "productive" and said America has reclaimed its role on the world stage working with its allies. During the summit, Biden highlighted American leadership on the world stage, a campaign pledge he was looking to deliver on.
Now, Biden is in Scotland, where the United States and representatives from governments around the world convene for a highly anticipated summit on climate change that has been billed as the "last best chance" to meet the goals of the Paris Agreement and prevent the worsening effects of climate change.
Source-ABC
Antigua PM urges developed countries to meet their commitments
Antigua and Barbuda Prime Minister Gaston Browne, Monday urged the developed countries to adhere to their commitments to assist Small island Developing States (SIDS) meet the challenges posed by climate change warning “If sea level rise does not get us first, we will surely drown in debt”.
Addressing the Round Table on Action and Solidarity chaired by Britain’s Prime Minister Boris Johnson as part of the activities for the United Nations Conference on Climate Change (COP 26), Browne, who is also Chair of the Alliance of Small Island States (AOSIS) said he was doing so “through gritted teeth.
“We are here to deliver on commitments made but we are closing out 2021 with ambition that puts us on a pathway to overshooting the 1.5 goal. Ambition is our litmus test,” Browne told the conference adding that many delegates are of the opinion that they are very close to being 1.5- degrees Celsius compatible.
“But when they fail to accept to contribute their fair share of climate finance, it puts them further away from being 1.5 compatible.”
Several Caribbean Community (CARICOM) leaders are attending the conference as countries work towards the global goal of limiting the global temperature increase to 1.5 degrees Celsius above pre-industrial levels. If this limit is exceeded, scientists have predicted that worsening climatic events will threaten people’s lives, livelihoods and food systems.
Among the actions being advocated for are the reduction in gas emissions from burning fossil fuels like oil, speeding up a transition to the use of more renewable sources of energy (such as solar and hydro energy) and adequate financing to help small, developing countries to become more resilient to climate change.
Browne, who is also chairman of the 15-member regional integration grouping, said when developed countries renege on their finance commitments it has knock-on effects on climate action.
“We then get demonised for having to adopt outdated technology that are dumped in our vulnerable countries, as a result of inadequate and inaccessible climate finance to implement our NDCs” which are countries’ self-defined mitigation goals
“Reports indicate that we will not meet the US$100 billion goal until 2023, meanwhile the G20 supports the fossil fuel industry at rates of over US600 billion a year, including through excessive subsidies.
“We clearly have the money and the technology to make this transition. The economic impacts of climate disasters on SIDS surpasses our GDP, and if you need a reminder of this fact, the tropical cyclones that destroyed, Bahamas, Dominica, Fiji and my home country, Barbuda, should serve as enough evidence,” Browne said.
The Antigua and Barbuda Prime Minister said hurricane do not bypass vulnerable SIDS that are defined as high income.
He said gross domestic products (GDP) per capita cannot be applied to climate finance and concessional financing must be available to all SIDS in order to build our resilience to climate change.
“If sea level rise does not get us first, we will surely drown in debt. As part of any new climate finance goal AOSIS is pushing for a concrete financing sub-target for loss and damage. Trust has been eroded and islands can no longer afford to be naïve.
“If we continue to see lack of ambition on mitigation and on climate finance; loss and damage must have real teeth to force restitution. Overshooting 1.5 degrees exponentially increases the risks, and price tags of climate change impacts. You cannot continue to have it both ways.”
Browne said that the scale of adaptation finance “must reflect the mitigation pathway that we are on. Adaptation finance needs to be entirely grant-based, drastically increased, accessible, and have parity with that of mitigation.
“While we know this COP is not an end point, I would like to remind you all that “a critical decade” does not mean action in 2028 or 2029. We need to see structural changes now. Our people are suffering.”
Source-CMC
Antigua and Barbuda celebrates 40th anniversary
Antigua and Barbuda is celebrating its 40th anniversary of political independence from Britain on Monday, overshadowed by the “seemingly endless litany of COVID-19 related ailments” that have curtailed the traditional celebrations.
Governor General Sir Rodney Williams, Prime Minister Gaston Browne and the leader of the main opposition United Progressive Party (UPP), Harold Lovell, all made reference to the pandemic that has killed 102 people and infected 4, 058 since March last year.
“We acknowledge the reality that Our Nation has also had its fair share of difficulties. In spite of the seemingly endless litany of COVID-19 related ailments, one fact is apparent: Antiguans and Barbudans are a resilient people.
“Let us continue to focus upon the realignment of Our Nation to one where all citizens and residents have a reduced risk of illness; where everyone can work in safe and healthy places of employment; where our hospital beds are empty of patients with infectious diseases; and where our economy begins to remarkably rebound,” Sir Rodeny said in his message.
Source-CMC
Brathwaite, Hope sustain form as SL tour approaches
Test batsmen Kraigg Brathwaite and Shai Hope maintained their good form ahead of this month’s tour of Sri Lanka, when they carved out half-centuries on the opening day of the second three-day trial match here Monday.
Captain Brathwaite punched 58 and Hope struck 71 before both retiring as Brathwaite’s XI finished on 280 for four after choosing to bat first at Coolidge Cricket Ground.
Left-handed opener Jeremy Solozano top-scored with a patient 74 while Kyle Mayers lashed a breezy 45. However, Shamarh Brooks failed to make the most of his opportunity, dismissed cheaply for 11.
Brathwaite also hit a half-century in last week’s first warm-up game while Hope notched three figures and both again showed their hunger for runs.
The right-handed Brathwaite faced 118 balls in nearly 2-½ hours at the crease and counted half-dozen fours and a six, putting on 98 for the first wicket with the uncapped Solozano who struck 11 fours and a six in a knock requiring 216 deliveries and just under 4-¾ hours.
Brooks lasted 41 balls before falling to a catch at the wicket off seamer Niall Smith but Hope then anchored two successive half-century stands to keep the innings moving.
He put on 71 with Solozano and then added a further 73 with the left-handed Mayers who belted seven fours and two sixes in an entertaining 63-ball innings.
Seamer Jayden Seales, 20, struck twice late in the day to end as the best bowler with two for 28.
West Indies are expected to announce a squad this week for the upcoming tour which gets underway in Colombo with a four-day match starting November 14.
Both Tests are scheduled for Galle, the first bowling off November 21 and the second beginning eight days later.
Source-CMC
IMF says impact of COVID-19 on St. Kitts economy ‘severe’
The International Monetary Fund (IMF) says that the impact the COVID-19 pandemic on the economy of St. Kitts and Nevis has been “severe.”
After concluding Article IV consultation with St. Kitts and Nevis, the Executive Board of the Washington-based financial institution on Friday said that the complete halt in cruise ship arrivals and very few stayover tourists since the first quarter of 2020 “compounded on the pandemic’s impact on domestic activity.”
In a statement, the lending agency said the pandemic resulted in an estimated annual decline in gross domestic product (GDP) of 14 percent, and the general government’s first fiscal deficit (4.7 percent of GDP) since 2010, “financed by drawing down sizeable deposit buffers.”
“An expected rebound in tourism sets the stage for a strong recovery from 2022 onward, but risks to the outlook remain significant,” the IMF said.
Following a loss of the 2020–21 winter tourism season and slow resumption of tourism inflows to date, it said staff projects a small further decline in GDP of 1 percent in 2021, followed by 10 percent growth in 2022.
“However, the recovery path could be derailed should the pandemic lead to further sustained disruptions on the anticipated pace of tourism recovery and domestic activity,” the IMF warned.
It said other risks include financial sector uncertainties, natural disasters, and lower-than-expected CBI receipts.
The IMF said its executive directors agreed with the thrust of the staff appraisal, which noted that St. Kitts and Nevis entered the COVID-19 pandemic from a position of fiscal strength, commending the authorities’ “prompt and effective policy response, which has helped contain the pandemic’s economic and health impact.
“Directors agreed that, in the near term, the key policy priorities are containing the pandemic and supporting the economic recovery,” the IMF said. “In particular, they emphasized that reaching herd immunity through vaccination is the chief priority to save lives and livelihoods.”
The IMF directors agreed that fiscal relief measures should be kept in place until the recovery firmly takes root.
They noted that robust levels of public investment would further support economic activity.
Given the small economy’s susceptibility to natural disasters and dependance on tourism and volatile revenues from the Citizenship by Investment (CBI) Program, the IMF said its directors concurred that, once the recovery is firmly established, the government should resume saving part of the CBI revenues to rebuild fiscal buffers, “which will also provide additional fiscal space to mitigate contingent and long-term fiscal pressures.”
The IMF said its directors agreed on the need to preserve the stability of the financial system by increasingly focusing on building readiness to exit the temporary support measures.
They recommended reviewing and formalizing crisis management plans, containing risks in the systemic bank, strengthening supervision of non-banks, developing a more robust plan to divest unsold lands, and pursuing reforms to facilitate asset recovery.
While commending the authorities for promoting financial integrity, securing correspondent banking relationships, establishing CBI program safeguards and bolstering the AML/CFT and tax cooperation frameworks, the IMF said the directors called for further efforts in these areas.
It said the directors encouraged structural reforms that raise productivity growth, economic competitiveness and human capital.
In this regard, the IMF said the directors “particularly welcomed the authorities’ agenda to diversify energy sources and channel CBI revenues into other sectors besides tourism and for infrastructure that protects against natural disasters.”
The IMF said St. Kitts and Nevis had entered the COVID-19 pandemic from a position of fiscal strength following nearly a decade of budget surpluses.
It said a significant part of the large CBI revenues was “prudently saved, reducing public debt below the regional debt target of 60 percent of GDP and supporting accumulation of large government deposits.”
“Prompt government action helped contain the pandemic’s public health impact.”
At the onset of the pandemic, it said the St. Kitts and Nevis government “swiftly restricted” inbound travel, introduced a month-long national lockdown, and procured protective and medical equipment.
“The reopening of borders at end-October 2020 has been accompanied by strict safety protocols. The response measures effectively mitigated the pandemic’s human cost, with St. Kitts and Nevis having had the lowest per capita case count in the Western Hemisphere and no mortalities in 2020.
“But the impact on the economy has been severe,” the IMF lamented.
Source-CMC
Nelly and Kelly Rowland to perform during Macy's Thanksgiving Day Parade
Nelly and Kelly Rowland will begin their holiday celebration performing during Macy's Thanksgiving Day Parade on Thursday, November 25 in New York City.
The rapper and singer won a Grammy for Best Rap/Sung Performance for their 2002 duet, "Dilemma." The song was also nominated for Record of the Year. "Dilemma" was the first single from Rowland's 2002 debut solo album, Simply Deep, and remained at number one on the Billboard 100 for ten weeks.
Kelly is also starring in the holiday movie, Merry Liddle Christmas Baby, which premieres November 27 on Lifetime.
The 95th Macy's Thanksgiving Day Parade will air live on NBC from 9 a.m. to 12 p.m. ET on Thursday, November 25.
Source-ABC
Chinese version of Fortnite to close in November
Fortress Night, the Chinese version of the popular game Fortnite, is to close later this month.
Epic Games, which owns Fortnite, has so far provided no reason for the decision to close the online shooter game.
An announcement said the game, which has been available in China as a "test" for two years, would come to an end on 15 November.
China sets strict limits on the time children can spend playing online games.
The last-player-standing style combat game stopped new sign-ups on 1 November, the announcement said, two weeks ahead of the planned shutdown.
The game was originally launched in China in 2018 in co-operation with Chinese tech giant Tencent. Many Western games need to be significantly altered for the Chinese market, both for regulatory reasons and cultural ones.
Fortress Night includes a number of changes from the original Fortnite, including measures aimed at limiting the time players spend on the game, as well as having no "microtransactions" to buy extra in-game items with real money.
In August, China's video game regulator announced that under-18s would be restricted to only an hour of online gaming on Fridays, weekends and holidays.
The government has long been concerned about the time young people spend playing games. For example, a state media outlet branded online games as "spiritual opium" earlier this year.
In announcing the closure Epic Games wrote: "Thank you to all the Fortnite China players who have ridden the Battle Bus with us by participating in the Beta."
The firm declined to comment beyond the announcement of closure.
Source-BBC
Minister of Health observes Breast Cancer Awareness Month
As the Minister of Health and Human Services, I would like to address the population on the number one cancer diagnosed in women in the Turks and Caicos Islands, Breast Cancer. October is observed globally as Breast Cancer Awareness Month to promote the awareness, early detection and treatment of this disease. The World Health Organisation reported that “in 2020, there were 2.3 million women diagnosed with breast cancer and 685,000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer.”
It has been reported that between January to September 2020, there were 127 registered breast cancer cases and two (2) deaths. For the same period this year, there was an increase in the number of registered breast cancer cases by 13, totaling 140. This number includes 3 male and 137 female patients, with 1 recorded death. For the month of October so far, 3 additional cases in women have been registered. These statistics are a definite cause for concern.
As the Minister of Health, I would like to continue to encourage the population to prioritise their health and well-being. Particularly being mindful of the increased incidences of cancer diagnoses in the Turks and Caicos Islands. Increased awareness of the disease, its symptoms and how the risk of cancer can be reduced, is of priority to the Ministry. The Health Promotion and Advocacy Unit is spearheading several activities to promote awareness and is also utilising Social Media to educate and inform the public about the disease, self-care and risk reduction. Awareness is important because it improves the chances of early cancer detection and treatment. I would like to encourage the population to make the necessary lifestyle and behavioural changes to reduce the risk of chronic diseases including cancer. Women over the age of 50, who have a family history of breast cancer, or are overweight have a greater risk of developing the disease. Physical inactivity, a poor diet and excessive alcohol use, can also put one at greater risk for developing breast cancer.
I urge women over the age of 40 to perform regular mammograms, as the presence of lumps and other abnormalities can be detected in advanced of being able to see or feel them. Earlier detection allows for more successful treatment and management. Men are not exempt from developing breast cancer. Although breast cancer in men is rare, you should check for lumps and other symptoms.
Remember early detection saves lives. Never give up, keep on fighting.
Minister of Health & Human Services, Hon. Jamell Robinson