US Markets Post Big Losses in First Trading Day of 2016
U.S. stocks posted steep losses on their first trading day of 2016. The Dow Jones Industrial Average plummeted 276 points, or 1.58 percent, to end the session. Earlier Monday, the Dow lost more than 450 points at one point. The S&P 500 closed down 31 points, or 1.51 percent. The Nasdaq declined 104 points, or 2.09 percent.
Monday's activity does not bode well for the year, with traders referring to the axiom, "As January goes, so goes the year." Investors were spooked when China's Shanghai Composite Index fell 7 percent over weaker-than-expected manufacturing data and a falling currency.
Trading in China had to be halted earlier Monday and Chinese stocks are now at their lowest level in three months. The violent attacks on the Saudi Arabian embassy in Tehran over the weekend also rocked global markets Monday morning.
Source-ABC
Chinese shares extend losses in volatile trading session
Mainland Chinese shares extended losses in a volatile session, following Monday's suspension of trading which led to a global equities sell-off.
The Shanghai Composite fell 0.3% to close at 3,287.71 points, although it had opened more than 3% lower.
Hong Kong's Hang Seng index also fluctuated through the day, and ended 0.7% lower at 21,188.72.
Trading in Shanghai was suspended early on Monday under a new rule designed to limit dramatic falls in markets.
But regulators said on Tuesday they may restrict stock sales to stem falls.
The China Securities Regulatory Commission said it would consider restricting the proportion of shares that major shareholders could sell during a given period of time.
The central bank also injected an unexpected 130bn yuan (£13.55bn; $19.94bn) into the market to keep borrowing costs down - in a move to reassure retail investors.
The measures, however, did little to prevent Chinese shares from falling in afternoon trade.
Analysts said investors were waiting to see if Beijing could stem the latest selling in Chinese stocks and whether more measures would be introduced.
But Bernard Aw, market strategist at trading firm IG, said Beijing was arguably more concerned about economic growth than the stock market.
"Furthermore, it could look really bad if they have to throw in more measures when they are in the process of withdrawing the [last] rescue measures," he said in a note.
The new "circuit breaker" rule that suspended trading nationwide for the first time on Monday was created after sharp falls last summer and was meant to curb market volatility in China.
Monday's 7% fall in China spooked global markets.
Overnight, US benchmark indexes lost up to 2% as concerns grew that the dive in the Chinese stocks was the start of another volatile period after last summer's dramatic market rout.
Source-BBC
Trump Campaign Defends "Intentional" Use of Morocco Border Footage in Ad
The Trump campaign is defending its use of footage of the border between Morocco and Spain in an ad that touts Donald Trump’s hardline stance on illegal immigration into the United States.
The 30-second television ad, unveiled Monday, shows footage of dozens of people fleeing across what appears to be a national border, as the narrator says, "He'll stop illegal immigration by building a wall on our southern border that Mexico will pay for." Despite the narration, the footage is not of the “southern border” between the United States and Mexico, but rather the border of Morocco and Spain, according to PolitiFact, a fact-checking project operated by the Tampa Bay Times.
PolitiFact traced the footage to a video released by the Spanish Interior Ministry that was used in a 2014 Italian TV segment. The earliest appearance of the video appears to be on the website of an Italian newspaper, La Repubblica, in May 2014. The video’s timestamp is dated May 1, 2014. According to the video’s description, the footage features the “onslaught of hundreds of migrants to the wall that separates the Spanish enclave of Melilla from Morocco.”
The Trump campaign issued a statement Monday afternoon asserting that the use of the video clip was "intentional" to show what the United States could become without Trump's policies. The campaign added that the footage was "selected to demonstrate the severe impact of an open border and the very real threat Americans face if we do not immediately build a wall and stop illegal immigration."
Kuwait Backs Saudi Arabia, Recalls Ambassador to Iran
Kuwait joined other Saudi allies in taking diplomatic action against Iran after protesters angry about Saudi Arabia's execution of a prominent Shi'ite cleric stormed the country's embassy in the Iranian capital.
The state-run KUNA news agency said Tuesday Kuwait recalled its ambassador to Tehran and reiterated its support for all measures Saudi Arabia takes to maintain its security.
The move follows decisions by Saudi Arabia, Bahrain and Sudan to cut diplomatic ties with Iran, while the United Arab Emirates downgraded its relations with the country. All four nations are members of the Arab League, which is due to hold a special meeting Sunday to discuss the Saudi-Iran developments.
Iranian President Hassan Rouhani continued criticism of Saudi Arabia's decision to sever ties, saying that cannot cover up its "crime" of executing Sheikh Nimr al-Nimr. The Saudi government announced his execution on January 2, along with 46 other prisoners on terrorism related charges. Nimr was an outspoken critic of the Saudi monarchy.
The United Nations Security Council issued a statement Monday condemning the attack on the Saudi embassy. It called on Iran to respect its international obligations to protect diplomatic property and urged all parties to "maintain dialogue and take steps to reduce tensions in the region."
Source-VOA
Obama Issues Executive Orders on Curbing Gun Violence
U.S. President Barack Obama will discuss his new initiatives to curb gun violence in remarks Tuesday at the White House, as he works to detail to Americans the executive orders he says will not step on Constitutional rights.
Some of the measures, first announced by the White House on Monday, include expanded background checks, more effective enforcement of gun laws, increased mental health treatment and reporting to the national background check system, and more research into gun safety technology.
Obama presented the recommendations discussed during a White House meeting Monday with top officials including U.S. Attorney General Loretta Lynch and FBI Director James Comey.
“The good news is that these are not only recommendations that are well within my legal authority and the executive branch,” said Obama after the meeting. “But they are also ones that the overwhelming majority of the American people, including gun owners, support and believe in.”
One key element of the plan includes requiring any business selling firearms, including at gun shows, to get a license and conduct background checks.
“We intend to make this system more efficient and make it more comprehensive,” said Lynch on Monday. “The goal is keeping bad actors away from firearms and also to make it easier for authorities to make sure that the gun laws are properly followed and enforced.”
Part of the effort includes increasing by 50 percent the number of FBI personnel who staff the national background check system, said Lynch.
Recent polls show an increase in the number of Americans who support background checks on those seeking to purchase a firearm. Among other actions, the White House is pushing for stricter background checks.
A new survey by Webster's research center found that 85 percent of gun owners believe there should be background checks for every individual seeking to buy a gun.
Source-VOA
STATEMENT BY THE CHAIRMAN OF THE CARIBBEAN COMMUNITY (CARICOM) RT. HONOURABLE FREUNDEL STUART ON THE ADOPTION OF THE HISTORIC PARIS AGREEMENT ON CLIMATE CHANGE, AT COP 21
On behalf of the Governments and People of the Caribbean Community (CARICOM), and in my capacity as Chairman of CARICOM, I applaud the historic adoption of the Paris Agreement on Climate Change by 195 nations in the French capital on Saturday (12 December 2015), after several years of discussions and an intense negotiation period from 30 November to 12 December 2015.
The Community welcomes this globally binding commitment to combat Climate Change. We believe that the actions and investment approved in the Agreement will bring us closer to the goal of maintaining global average temperature rise well below 2 degrees Celsius and along a clear trajectory downwards towards 1.5 degrees above pre-industrial levels.
That Agreement will also help to realise the goals of lower greenhouse gas emissions, greater resilience and sustainable development, especially among the Small Island and low-lying coastal Developing States (SIDS), with the most vulnerable populations, such as the countries of the Caribbean. We determinedly and successfully promoted recognition of the special circumstances and vulnerabilities of SIDS, which are among the lowest contributors to greenhouse gas emissions, but are the most threatened by climate change.
Our Community is already experiencing the effects of climate change, particularly with the intensification of climatic events and unusual weather patterns, as demonstrated in recent catastrophic events in Saint Lucia, St. Vincent and the Grenadines, Dominica and The Bahamas.
CARICOM’s interests were strongly represented in a focused and coordinated manner by Heads of Government, Ministers, the CARICOM Secretary-General and his staff, and a team of experienced and skilled negotiators led by Dr. the Honourable James Fletcher. We are satisfied that our strong advocacy helped to ensure that the Agreement reflected the Region’s position on our major red line issues.
The Region’s successful campaign, built around the slogan “1.5 to Stay Alive”, received energetic support from several groups and organizations, including youths and cultural artistes, whose efforts must be applauded.
The Agreement reflects the Region’s position on financing support for the implementation activities in SIDS, including a baseline contribution of 100 Billion USD by 2020 and future additional provisions. This will significantly strengthen our capacity to attain the ambitious goals of Climate Change adaptation. We also applaud the proposed international cooperation on Climate-Change-friendly technologies and capacity building in developing countries as another adaptation measure.
The Region was also at the forefront of the successful campaign for inclusion of Loss and Damage as a distinct element in the Agreement, which goes beyond adaptation and addresses irreversible losses and permanent impact on CARICOM and other SIDS, resulting from human induced climate change. Our team also left the negotiations satisfied with the support received on REDD-Plus (Reducing emissions from deforestation and forest degradation).
We congratulate the Government of France for guiding an inclusive and transparent process in which small States, like those in CARICOM, had a respected voice alongside bigger, more powerful nations. We particularly recall the initiative of the French President Mr. Francois Hollande to convene a pre-COP21 meeting earlier this year with CARICOM Heads of Government in Martinique.
The task now is to ensure that the provisions of this legally-binding Agreement are implemented. The international community must now retain the energising and uplifting spirit of Paris in the process going forward. The world expects no less.
TCI Commissioner issues Christmas Greetings
Commissioner of Police James Smith, has issued a Christmas greeting to residents of the Turks & Caicos Islands.
"Once again we find ourselves in the Holiday Season, that very special time of year when we join with our friends and loved ones in sharing centuries old traditions and spending time with family and friends. I want to wish everyone a merry Christmas and remind you that the Royal Turks & Caicos Islands Police Force is here to protect you and look after you and that we will be working thought this period to keep you safe. Whilst having fun and spreading good cheer I would ask that people do not drink and drive, designate a driver or make arrangements to be transported by someone else. Already this year we have seen too many terrible road crashes where individuals have suffered life changing injuries, all of these could be prevented.
It’s also worth remembering that at this time of the year with lots of valuable presents, burglars are on the lookout for this and will take every opportunity to take advantage of your relaxed mood. Make sure to keep your homes and businesses well secured and keep any eye on your neighbors if they are away from home. Do not leave your vehicles unattended with the keys inside or your valuable property on show, remove it from the vehicle or store it in the boot out of sight.
We continue to deal with over six thousand calls for help each year and attempt to get you the assistance you need in the quickest possible time. Some of these calls require men and women of the Police Force to walk towards danger, I recognize the sacrifices and commitment police officers make on a daily basis in the interest of public safety and assure you we will carry that same commitment into the New Year.
On behalf of officers and staff of the Royal Turks and Caicos Police Force we wish you, your families and loved ones a safe and happy Christmas and a peaceful New Year."
Coping with Grief and Loss during the Holiday Season
Christmas and New Year’s Day are annual holidays that can be very difficult for people who have experienced the loss of a loved one.
Watching others who are feeling thankful and are celebrating when you feel overwhelmed, lonely or sad can be very painful.
Here are some Tips for Coping with Grief and Loss during the Holidays
Set realistic expectations for yourself. Decide if you can still handle the responsibilities you’ve had in the past. Examine the tasks and events of celebrating and ask yourself if you want to continue them. Take others up on offers to cook, shop or decorate.
Surround yourself with people who love and support you. Share your plans with family and friends and let them know of any intended changes in holiday routine. Memories can sometimes be a source of comfort to the bereaved. Share your memories with others of holidays spent with your loved one by telling stories and looking at photo albums.
Try to avoid “canceling” the holiday despite the temptation. It is OK to avoid some circumstances that you don’t feel ready to handle, but don't isolate yourself. Allow yourself some time for solitude, remembering and grieving, but balance it with planned activities with others.
Allow yourself to feel joy, sadness, anger – allow yourself to grieve. It is important to recognize that everyone will have his/her own unique grief experience and may have different needs related to celebrating the holidays. No one way is right or wrong. Experiencing joy and laughter does not mean you have forgotten your loved one.
Take care of yourself. Avoid using alcohol to self-medicate your mood. If possible, treat yourself to something you enjoy doing and find healthy ways to relax such as going to the beach, playing a sport, listening to music or getting a massage.
Seek professional help if you need it. Despite your best efforts, you may find yourself feeling persistently sad, unable to sleep, irritable and hopeless, and unable to face routine chores. If these feelings last for a while, talk to your doctor or a mental health professional.
Avoid bottling stuff up. Getting stuff off your chest is important. Tension can build up if you keep your feelings to yourself, and finding a way to get it out can help you feel better. You may want to talk to someone, write your thoughts down, draw, or cry.
The most important thing to remember is there is no right or wrong way to celebrate the holiday season after the death of a loved one, and that the best way to cope with that first holiday season is to plan ahead, get support from others and take it easy.
FORECAST FOR TODAY AND TONIGHT THURSDAY 24TH DECEMBER 2015
GENERAL SITUATION: A STRONG HIGH PRESSURE RIDGE REMAINS OVER THE ISLANDS CREATING FRESH TO STRONG BREEZES.
SPECIAL WARNINGS: MARINERS AND BEACHGOERS SHOULD CONTINUE TO EXERCISE CAUTION DUE TO ROUGH SURF CONDITIONS AND THE POSSIBILITY OF HAZARDOUS RIP CURRENTS MAINLY AT BEACHES ALONG THE EASTERN SHORELINES.
NORTHWEST AND CENTRAL BAHAMAS
WEATHER: MOSTLY SUNNY, WARM AND BREEZY WITH THE CHANCE OF BRIEF PASSING SHOWERS MAINLY OVER THE EXTREME NORTHWEST BAHAMAS... TURNING MAINLY FAIR AND BREEZY TONIGHT
ADVISORY: SMALL CRAFT ADVISORY IS IN EFFECT
WINDS: EAST TO SOUTHEAST AT 15 TO 25 KNOTS
SEAS: 5 TO 8 FEET OVER THE OCEAN
SOUTHEAST BAHAMAS
WEATHER: SUNNY, WARM AND WINDY WITH THE CHANCE OF A BRIEF SHOWER...TURNING MAINLY FAIR AND WINDY TONIGHT.
ADVISORY: SMALL CRAFT ADVISORY REMAINS IN EFFECT
WINDS: EASTERLY AT 25 TO 30 KNOTS
SEAS: 10 TO 14 FEET OVER THE OCEAN
DAYTIME HIGH TEMPERATURE: 86F 30C
OVERNITE LOW TEMPERATURE: 68F 20C
SUNRISE: 6:52AM SUNSET: 5:27PM
MOONRISE: 5:04PM MOONSET: 6:46AM FRI.
HIGH TIDE: 6:31AM LOW TIDE: 12:59PM
HIGH TIDE: 6:50PM LOW TIDE: 12:57AM FRI.
EXTENDED FORECAST: HIGH PRESSURE WILL PREVAIL ACROSS THE AREA THROUGH THE WEEKEND WITH BRISK WINDS CONTINUING
FORECAST FOR FRIDAY
WEATHER: PARTLY SUNNY, BREEZY AND WARM WITH A FEW PASSING SHOWERS
WINDS: EAST TO SOUTHEAST AT 15 TO 25 KNOTS IN THE NORTHWEST AND CENTRAL BAHAMAS...EASTERLY AT 25 TO 30 KNOTS IN THE SOUTHEAST BAHAMAS
SEAS: 5 TO 8 FEET IN THE NORTHWEST AND CENTRAL BAHAMAS AND 10 TO 14 FEET IN THE SOUTHEAST BAHAMAS
FORECAST FOR SATURDAY
WEATHER: PARTLY SUNNY WARM AND BREEZY WITH A STRAY SHOWER OR TWO
WINDS: EAST TO SOUTHEAST AT 15 TO 25 KNOTS IN THE NORTHWEST AND CENTRAL BAHAMAS...EASTERLY AT 25 TO 30 KNOTS IN THE SOUTHEAST BAHAMAS
SEAS: 5 TO 8 FEET IN THE NORTHWEST AND CENTRAL BAHAMAS...10 TO 14 FEET IN THE SOUTHEAST BAHAMAS.
J'can woman arrested in Cayman for residency scam
A Jamaican woman living here, has been convicted for her part in a permanent residency scam which involved two other women.
Marcia Hamilton was convicted on six counts of obtaining property by deception, when she appeared in court earlier this week.
Another woman Judith Douglas, pleaded guilty to similar offences.
The third woman, Kathleen Davis, also a Jamaican, fled the country before she could be charged.
According to police reports, Hamilton who received permanent status during in 2003, denied the charges, claiming she was not part of a conspiracy because she believed the Permanent Residency offer she assisted with was a legitimate scheme.
However, trial judge – Justic Charles Quin, ruled that Hamilton knew that the people she and her co-accused scammed for US$2,500 each were never going to get Permanent Residency.
The exact number of victims have not been confirmed but lists of names and documented cash payments found in Hamilton’s car and home suggested that dozens of people could have all paid fees of to secure what they all believed would be the right to live and work in the Cayman Islands.
Quin said he found the evidence was overwhelming that Hamilton acted together with the two other women to deliberately defraud their victims.
He described the receipts, ledgers and documentation found in Hamilton’s possession as damning evidence that showed she was, as the crown claimed, “the money lady” in the scheme and that she was not just assisting friends and family to help them get permanent residency.
The judge described Hamilton as an “intelligent and resourceful” woman who ran a business and who was familiar with the immigration system and would have known how the system really works to get residency.
The fraud took place between October 2009 and April 2010.
Hamilton and Douglas, who are out on bail, will be sentenced on February 25.
Source-CMC