US rejects China-led bid for Chicago Stock Exchange
The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group.
The decision comes after more than two years of reviews by officials.
The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC).
But US politicians, including President Trump, have said letting a Chinese firm invest in a US exchange was a bad idea.
Under the proposal, the Chinese-led North America Casin Holdings group would have bought CHX Holdings, which owns the Chicago Stock Exchange.
The exchange, which handles just 0.5% of US stock trades, had said the deal would have provided the exchange with "vital capital".
That funding would have been used "to boost numerous initiatives designed to benefit the city of Chicago, the US economy and market structure as a whole".
While the investment got an initial vote of approval by SEC staff in August 2017, the commission ultimately ruled that the deal did not meet the rules that govern US stock exchanges.
"The review process has also raised questions about whether the proposed ownership structure will allow the commission to exercise sufficient oversight of the exchange" the SEC said on Thursday.
The SEC's decision follows several other moves by US officials to deter Chinese firms doing business in the US, or partnering up with US firms to sell their goods in the country.
In January, China's telecommunications giant Huawei said it had been unable to strike a deal to sell its new smartphones via a US carrier, widely reported to be AT&T.
Also earlier this year, the US also blocked a $1.2bn (£880m) sale of money transfer firm Moneygram to China's Ant Financial, the digital payments arm of Alibaba.
It was the highest profile Chinese deal to be rejected by Washington since Donald Trump came to power.
US politicians who had opposed the stock exchange deal said they applauded the decision.
"This has been a long fight, and I'm grateful we now have a president who recognises the national security threats of allowing a Chinese government-affiliated company to own the Chicago Stock Exchange," Republican congressman Robert Pittenger said in a statement.
Duane Martin to co-star in Gabrielle Union's Bad Boys TV spinoff
Duane Martin has been tapped to star alongside Gabrielle Union in the upcoming Bad Boys spinoff pilot.
According to Deadline, Martin has been added to the potential series with Friday Night Lights' alum Zach Gilford.
In the spinoff, Union will reprise her Bad Boys 2 role, Syd Burnett. Her character, however, has now moved to L.A. and is working as an LAPD detective. Unfortunately, her new partner, Nancy McKenna, believes Syd's lifestyle is a front for a "greater personal secret."
Martin would play "the smart and competitive" LAPD homicide detective Ben Baines, who’s partnered with Gilford's character, Ben Walker.
As previously reported, Ernie Hudson has already signed on to play Union's father.
The Bad Boys series news comes after BET announced the cancellation of Union's Being Mary Jane, ending the series with a fifth-season two-hour movie special.
Source-ABC
Cuba prepares to end dual currency
For more than two decades, Cubans have used a unique dual currency system to protect a fragile economy, but with just weeks of his mandate remaining, President Raul Castro has signalled that
much-delayed change is finally coming.
Plans to scrap the divisive system were first mooted in 2003 as part of a series of market-oriented reforms introduced by Castro, who is due to step down in April.
Now, after years of delays, authorities on the Caribbean island are finally expected to bite the bullet and begin consolidating the two currencies, despite fears of a shock to the economy.
“This issue has taken us too long and it cannot be delayed any longer,” Castro said in a speech in December.
The government has resisted any commitment to a timetable, but many observers believe that a meeting of the Central Committee of the Cuban Communist Party (PCC) next month will finally set the process in motion.
The country has had two currencies since 1994 when it introduced the Cuban Convertible Peso, or CUC – alongside the Cuban Peso, the CUP – as part of measures to protect the economy in the wake of the collapse of its biggest sponsor, the Soviet Union.
The CUC, originally used exclusively for foreign trade and in the tourism industry before gradually seeping into the normal economy, is worth about 25 times the CUP and pegged to the dollar.
The dual currencies created a two-tier class system in Cuba, which favoured those with access to the lucrative tourist sector through hotels, restaurants and foreign trade.
TWO CURRENCIES, TWO LABELS
Prices are labelled in both currencies: a small can of cola costs 1 CUC or 25 CUP. Whether you pay with one or the other “it's the same thing, a bottle of oil costs the same either way,” said 68-year-old retiree Marlen Leyva.
With the CUC, the state allows its companies to import at a preferential exchange rate – a US dollar for a Cuban peso. The distortion allows state entities to ensure their margins while offering the public affordable prices in a country where the average monthly salary is around US$30.
But the current system masks inefficiencies in the state sector, economists say.
“The monetary duality is causing difficulties to evaluate the economy and competitiveness,” said economist Omar Everleny Perez, citing a complicated relationship with international markets, already hampered by a US trade embargo in place since 1962.
Cuba has said that the original national peso would remain and the CUC would be consigned to history.
The head of Cuba's reform commission, Marino Murillo, said in December a group of 200 specialists were working on the issue and the that “the convertible peso would be phased out,” without giving further details.
The European Union, which oversaw the conversion of a number of European currencies to the euro, has offered to assist the Havana government with the delicate move.
In preparation for the change, 200, 500 and 1000 CUP bills were issued in 2015 to facilitate less cumbersome payments. Even so, a refrigerator which costs anything from 700 CUC in Cuba officially has to be paid in local currency, or 17,500 CUP.
Consolidation will complicate life for state firms, which account for 85 per cent of the economy. Economists predict that importers will see their costs rise and transfer them to the final consumer, generating a hike in inflation.
It will benefit state exporters, who will see a surge in their earnings.
GRADUAL REFORM
Theoretically, state-owned enterprises will have to import at a “normal” exchange rate, but many economists believe that Havana will not have enough foreign reserves to sustain it.
On the other hand, in the new system the few Cuban businesses exporting abroad would receive more Cuban pesos, and could partly offset the impact on the economy.
“The sectors that benefit could be in a position to pay better wages, but companies that are penalised should close or merge,” said leading economist Pavel Vidal.
And the fear of higher prices could cause excess demand, which would be difficult to accommodate on an island that imports 80 per cent of what it consumes, said Perez, who anticipates imbalances in the short term.
For Perez and other economists, that is a worrying prospect when the “libreta” – the ration book – no longer covers a family's monthly needs.
Perez said it is essential for the government to support the reform by increasing openness to foreign investment and the public sector, in order to stimulate foreign exchange inflows and increase purchasing power.
Foreign companies had already positioned themselves to take advantage of the shift, “because they do not really care about the American embargo,” he said.
Source-AFP
US indicts 13 Russian nationals for election interference
US Special Counsel Robert Mueller on Friday announced the indictments of 13 Russian nationals and three companies for alleged interference with the 2016 election.
According to the unsealed indictment the accused conspired — from 2014 until today — to interfere "with the US political and electoral processes, including the presidential election of 2016."
Mueller alleges that the group posed as Americans and controlled social media accounts that focused on divisive social and political issues.
Under the management of Yevgeny Prigozhin, a close ally of Vladimir Putin, the group reached "significant numbers" of Americans, according to the indictment.
They had a "strategic goal to sow discord in the US political system" and by mid-2016 were supporting Donald Trump's campaign and disparaging Hillary Clinton. The group was based in Putin's home town of Saint Petersburg, but some of the accused traveled to the United States.
Stops included Nevada, California, New Mexico, Colorado, Illinois, Michigan, Louisiana, Texas, Georgia and New York.
An unnamed Texas-based American political operative is said to have instructed them to focus on so-called "purple states" which swing between Republican and Democratic control.
"Hundreds" of people were said to have been involved in the operation, working in shifts and with a budget of millions of dollars.
They allegedly targeted social media sites like Facebook, Twitter, YouTube and Instagram.
Two of the firms are said to have Russian government contracts.
Source-AFP
ENVIRONMENTAL HEALTH DEPARTMENT HOSTS FIRST MOLD MOISTURE AND REMEDIATION WORKSHOPS
The Environmental Health Department in collaboration with the Ministry of Health, Agriculture and Human Service has hosted two, one day 'Mold, Moisture and Remediation Workshops' on the Islands of Providenciales and Grand Turk on February 13-14, 2018.
The workshop was geared towards staff within the Department of Public Works, Estate Management, Environmental Health Department in addition to other Health and non-health officials.
The facilitators for the events were Pan American Health Organization (PAHO) consultants Dr. Stephane Perron M.D. who is a physician specializing in public health and preventive medicine, and an adjunct professor for the Department of Preventive and Social Medicine at the University of Montreal.
He is the chief medical officer for the Urban Environment and Healthy Lifestyle division of Montreal's public health department. He also does clinical work at the Occupational and Environmental Medicine Clinic located in the University of Montreal's Hospital Center; and Ms. Mireille Carpentier - Occupational Hygienist.
During the workshop, facilitators discussed topics such as:
-
Health Effects and Mold
-
Investigation of the health effects of Mold exposure in the Home and Workplace
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Moisture in buildings: how moisture gets into buildings, the relationship between air, moisture, temperature, and water.
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Mold investigation methods
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Mold sampling techniques
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Mold Remediation: Health and Safety plan, respiratory protection
Attendants also had the opportunity to participate in conducting mold assessments in some of the buildings within the Turks and Caicos.
The first of the two one day sessions took place in Providenciales on February 13, 2018. The Environmental Health Department wishes to thank the PAHO Bahamas/Turks and Caicos Islands Office for facilitating this timely consultancy in order to help build local capacity in order to respond to mold in the wake of the 2017 hurricanes which impacted the TCI.
MARINE FORECAST FOR 24 HOURS FROM 6AM TUESDAY 30TH JANUARY 2018
MARINE FORECAST FOR THE BAHAMAS FOR 24 HOURS FROM 6AM TUESDAY 30TH JANUARY 2018 ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY AT 1030UTC.
WARNINGS: WINDS WILL GUST TO MORE THAN 25 KNOTS AND VISIBIITY REDUCED TO LESS THAN 3 NAUTICAL MILES DURING HEAVY SHOWERS AND THUNDERSTORMS. MARINERS AND BEACHGOERS SHOULD CONTINUE TO EXERCISE CAUTION DUE TO ROUGH SURF AND RIP CURRENTS AT BEACHES MAINLY ALONG THE NORTHERN AND EASTERN SHORELINES. SMALL CRAFT OPERATORS IN THE NORTHWEST AND CENTRAL BAHAMAS SHOULD REMAIN IN PORT AND BEACHGOERS SHOULD REFRAIN FROM SWIMMING.
GENERAL SITUATION: PRE-FRONTAL ACTIVITY WILL CONTINUE TO PUSHED THROUGH THE ISLANDS AS ITS ASSOCIATED COLD FRONT MARCHES ACROSS THE ISLANDS.
AREA: CENTRAL AND SOUTHEAST BAHAMAS
ADVISORY: SMALL CRAFT CAUTION IS IN EFFECT ...BOATERS IN THE CENTRAL BAHAMAS SHOULD REMAIN IN PORT BY AFTERNOON.
WINDS: EAST TO SOUTHEAST AT 15 TO 20 KNOTS OVER OPEN WATERS BECOMING NORTHERLY AT 20 TO 30 KNOTS IN THE CENTRAL BAHAMAS BY AFTERNOON AND EASTERLY AT 10 TO 15 KNOTS OVER OPEN WATERS IN THE SOUTHEAST BAHAMAS.
SEAS: 4 TO 7 FEET OVER THE OCEAN BECOMING 8 TO 12 FEET BY MID-AFTERNOON IN THE CENTRAL BAHAMAS AND 2 TO 4 FEET IN THE SOUTHEAST BAHAMAS.
WEATHER: WINDY WITH SCATTERED SHOWERS AND THE CHANCE OF A FEW THUNDERSTORMS MAINLY IN THE VICINITY OF THE FRONTAL BOUNDARY.
MOONRISE: 5:10 PM MOONSET: 5:55 AM WED
HIGH TIDE: 6:27 AM & 6:48 PM LOW TIDE: 12:55 PM & 12:57 AM WED
EXTENDED FORECAST: (FOR THE NEXT THREE DAYS)
FORECAST FOR WEDNESDAY
WINDS: NORTHEASTERLY AT 20 TO 30 KNOTS
SEAS: 8 TO 12 FEET
WEATHER: WINDY WITH THE CHANCE OF FEW ISOLATED SHOWERS.
FORECAST FOR THURSDAY
WINDS: EASTERLY AT 15 TO 25 KNOTS
SEAS: 5 TO 8 FEET
WEATHER: BREEZY WITH THE CHANCE OF FEW ISOLATED SHOWERS
Hon. Sean R. Astwood attends 21st Century Governance Summit
Hon. Sean R. Astwood, Deputy Premier and Minister of Border Control and Employment attended the '21st Century Government Summit' on January 16, 2018 in St. John's Antigua & Barbuda. The summit also saw Heads of Government from over 8 other neighboring Caribbean Countries.
The Government of Antigua and Barbuda and the Caribbean Telecommunications Union, in collaboration with the Caribbean Centre for Development Administration (CARICAD), hosted this Summit to present to regional Heads of Government the principles of 21st Century Government, the goal of which is to accelerate government and public service transformation and thereby strengthen economic competitiveness and promote sustainable development.
The feature address was delivered by Dr. The Rt. Hon. Keith Mitchell, Prime Minister of Grenada and the CARICOM Head of Government who holds responsibility for science and technology. Hon. Mitchell expressed his full support and endorsed the establishment of 21st Century Governments in the Caribbean. He noted "21st Century Government principles are embedded in the Vision and Roadmap for the CARICOM Single ICT Space which was approved by CARICOM Heads of Government in February, 2017.
The 21st Century Government programme represents a significant step in the realisation of the vision for the Single ICT space by 2022. During his address, Hon. Mitchell called on his regional counterparts to 'take up the mantle to lead the transformation process' and stated, "As leaders, we must lead the process. That is our responsibility. We must use our power to make the paradigm shift to break from our traditional mindset, practices and methods of engaging our citizens. We must embrace information and communication technologies to transform and make the relationship with our government and citizens more effective and efficient."
Prime Minister of Antigua and Barbuda, the Hon. Gaston Browne, in his welcome address to his fellow Heads indicated his full support for the 21st Century Government initiative. Prime Minister Browne stated "The Caribbean Telecommunication Union's focus on 21st Century Government, starting with this Summit, is timely, welcomed and important. My government fully supports this initiative, as is evident by the work already being undertaken through the Ministry of Information, Broadcasting, Telecommunications and Information Technology in Antigua and Barbuda." E-government services introduced in Antigua and Barbuda include border control and visa application systems, ASYCUDA World System, digitization and automation of business registries, onshore and offshore, land registry system and the driver's license renewal system.
Hon. Astwood remarked, "This summit could not come at a better time for the Turks and Caicos, one of the aims of my government is to upgrade outdated systems, improve technology and create more innovative, technologically driven products and procedures across our Ministries. Like other countries in the region, when it comes to technology we are desirous of implementing sustainable products that will bring us into the 21st Century. The Ministry of Border Control and Employment recently unveiled its readable plastic card on January 15th, 2018 to replace the cumbersome work permit cards that has been in use over the past years, this is the first step in fully moving to an automated border control system.
This is just one of the many products that my government will introduce to The TCI. Strides such as the one just mentioned will improve security, service, processes and efficiency in the country. The Turks and Caicos is already known to be one of the most beautiful countries' in the world and we are ready to make it one of the most advanced countries' also."
The representatives of Estonia, former Minister of Foreign Affairs, Mr. Rein Lang, and of Georgia, Minister of Justice, Ms. Thea Tsulukiani, also gave outstanding presentations on what has been achieved in e-Government in their respective countries, both of which are rated in the top e-government countries in the world.
The Summit ended on a high note with a round-table discussion of Heads of Government who endorsed 21st Century Government. This set the stage for the three-day Symposium that followed.
MINISTRY OF EDUCATION ANNOUNCES 2018 ADDITIONAL INTERNATIONAL GRANT AWARDEES
The Ministry of Education, Youth, Sports and Library Services is pleased to publish additional grant awardees for 2018 for tertiary level studies. The Scholarship Advisory Committee met during the period of January 2018 to review potential applications after a thorough review of the 2017/18 tertiary education budget was made where the ministry identified saving allowing additional one-time grant awards.
The following twenty six (26) international awardees were successful based on decisions previously made by the Education Advisory Board on students deemed to have met all criteria but there were insufficient funds. In total, the Educational Advisory Committee considered forty six (46). This now brings the total number of grants awarded for academic year 2017/18 to 43 and international awards to 69.
The Ministry is committed to assisting Turks and Caicos Islanders in pursuit of their Educational endeavors to ensure a qualified workforce and people.
The public is reminded for the upcoming academic year 2018/19, the Ministry welcomes applications for Local and International scholarships and grants which are to be submitted by 30th April, 2018
Award letters will be available from January 29th 2018 and can be picked up at the Ministry of Education in Grand Turk, the Department of Education in Providenciales, during normal working hours, 8am – 4:30pm.
|
Surname Name |
First Name |
Program of Study |
Course Level |
|
Williams |
Kenesha |
Pediatric Nurse Practitioner |
Associate's |
|
Gaskin |
Tare-Davni |
Biochemistry & Computer Science |
Bachelor's |
|
Davidson-Swann |
Jordel |
Law with accounting & Finance |
Bachelor's |
|
Hall |
Loren |
International Business with Marketing |
Bachelor's |
|
Mayham |
Phildreka |
Management in a Service Economy |
Master's |
|
Mcleod |
Alexander |
Marine Biology & Ecology |
Master's |
|
Castillo Martinez |
Ariella |
ACCA (Accounting & Finance) |
Certification |
|
Higgs |
Camardia |
Bar Professional Training Course |
Certification |
|
Ingham |
Ebeni |
Accounting |
Associates |
|
Ingham-Charlestin |
Mauvette |
Human Resource Management |
Master's |
|
Palmer |
Rashadia |
Business Management |
Master's |
|
Parker |
Travis |
Project Management |
Master's |
|
Walkin |
Kathy |
Intelligence & Security |
Master's |
|
Delancy |
Kedeisha |
Neonatal Nursing |
|
|
Ewing |
Lyndon |
Business Administration |
Bachelor's |
|
Harvey |
Wilbert |
Bar Professional Training Course |
Certification |
|
Higgs |
Candace |
Banking & Finance |
Master's |
|
Joseph |
Schaidine |
Accounting & finance |
Bachelor's |
|
Rahming |
Yvonne |
Project Management |
Master's |
|
Clarke |
Pamela |
Accounting |
Master's |
|
Elliott II |
William |
Pre-University Business Course |
Pre-University course |
|
Gardiner |
Madison |
Law |
Bachelor's |
|
Grant |
Tiffany |
Business Management |
Bachelor's |
|
Hislop |
Charmony |
Event Management |
Bachelor's |
Coincheck promises 46bn yen refund after cryptocurrency theft
One of Japan's largest digital currency exchanges has said it will refund most of the $534m (£380m) worth of virtual assets lost in a hacking attack.
Coincheck has promised to use its own funds to reimburse more than 46bn yen ($423m) to customers who lost their NEM cryptocurrency coins on Friday.
The Tokyo-based company suspended trading after detecting "unauthorised access" of its digital exchange.
Some 260,000 customers are said to be affected by the reported theft.
Coincheck said on Sunday that the amount it has promised to return covers nearly 90% of the 58bn yen worth of NEM coins lost in the attack.
After the breach was discovered on Friday, the company froze deposits and withdrawals for all cryptocurrencies except Bitcoin as it assessed its losses in NEM, a lesser-known currency.
The stolen Coincheck assets were said to be kept in a "hot wallet", which is a part of the exchange connected to the internet, as opposed to a "cold wallet", where funds are stored securely offline.
The company says it has the digital address of where the assets were sent.
As many as 10,000 businesses in Japan are said to accept cryptocurrencies.
In 2014 MtGox, another Tokyo exchange, collapsed after admitting that $400m had been stolen from its network.
Hackers broke in at 02:57 on Friday (17:57 GMT Thursday), the company said in a statement, but the breach was not discovered until 11:25, nearly eight and a half hours later.
Company chief operating officer Yusuke Otsuka said 523m NEMs had been sent from Coincheck's NEM address during the breach.
"It's worth 58bn yen based on the calculation at the rate when detected," he told reporters at the Tokyo Stock Exchange.
Coincheck then looked into how many customers were affected and whether the break-in had been launched from Japan or another country.
"We know where the funds were sent," Mr Otsuka added. "We are tracing them and if we're able to continue tracking, it may be possible to recover them."
Coincheck reported the incident to the police and to Japan's Financial Services Agency.
Source-BBC
Homes of Haitian migrants in Bahamas set on fire
Police in the Bahamas say a fire that was apparently set deliberately has destroyed dozens of homes in a shantytown made up largely of migrants from Haiti on the island of Abaco.
An official with the Royal Bahamas Police Force says a local man is in custody on suspicion of arson but has not yet been charged.
The fire started early Sunday in an area known as The Mudd in the town of Marsh Harbor and burned for several hours. Video from bystanders shows dozens of flimsy homes engulfed in flames in the densely packed community.
Deputy Commissioner of Police Emrick Seymour said Monday that investigators are still trying to determine the exact number of homes lost and how the fire was started.
There were no injuries.
Source-AP