US Feds cuts growth forecast
The US Federal Reserve has cut its growth forecast for 2014 due to the harsh winter weather.
The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%.
However in its accompanying statement, the bank said that economic activity had "rebounded in recent months".
As expected, it has also trimmed back its stimulus programme by $10bn a month to $35bn.
The central bank has been buying bonds to keep long-term interest rates low and encourage banks to lend.
This is the fifth cut in purchases since December and it is expected to stop buying bonds altogether by the autumn.
However the chair of the bank, Janet Yellen, stressed that this was not a pre-set programme and if necessary it would change course.
As far as interest rates go, the bank said they would remain near zero "for a considerable time" after the bond buying ends.
On inflation, Ms Yellen said she expected it to remain at or below the target of 2% until the end of 2016. Low inflation would enable the bank to keep interest rates low. Currently, they are not expected to rise until the middle of 2015.
Sandals cuts communication costs by 44%
Sandals Resorts International (SRI) reported a 44 per cent decrease in its communication costs just one year after implementing a Pan-Caribbean closed-user group (CUG) solution from Digicel Business.
The communication solution enables unlimited calling on the Digicel network between the company's employees across its fifteen locations throughout the Caribbean.
At Sandals, communication is a critical part of what we do," said Wayne Cummings, SRI director of business administration and processes. "Therefore, we have to ensure that we have the most efficient solutions in place to keep the lines of communication open in our company-the exclusive level of service we are able to provide to our customers is dependent on this."
Digicel Group operates in 31 markets in the Caribbean, Central America and Asia Pacific, while Sandals has 15 resorts across Jamaica, Antigua, Saint Lucia, The Bahamas, Barbados and Grenada.
Saltans & Stingers tied 2 a piece
In the GTBA, this morning I told you about Fridays game, where the Salt Cay SALTONS took game 3 in overtime to defeat the Good Street STINGERS , Player of that Game was Jay Harvey who scored 22 Pts , had 16 Rebs and 3 blocks to take a 2-1 lead in the best of 7 series.
But on Saturday night the cobra was awaken and the Stingers stung the Saltans with a win of 78 - 64 , to tie the series 2 a piece!
Player of the game was Elvis Smith with 33 pts, 14 Rebs , 2 stls & 1 asts.
Game 5 is schedule for Friday June 20 at the Palm Grove court. Tip off is scheduled at 8:30pm.
Commonwealth Games Announcement of Athletes for 2014 Games
The Commonwealth Organization has named the official team representing the Turks & Caicos in Glasglow in a few weeks.
As stated by the Minister of Sports in the House of Assembly, Richardia Missick will represent the TCI in shooting and is the only female who will be taking part.
In weight lifting, Michael Francois & Ronald Parker will take part in the 94kg & 85kg respectfully.
TCI Track & Field team will be led by Angelo Garland in the men 400m, the 4x 100 relay & the 4x 400 m relay. Barney Hanfield will challenge the field in the High Jump and will also form the 4x100 & 4x400 m relays as well as Wadly Jean who will take part in the 4x100 & 4x400 m. Jean will also take part in the men 200m race. Teammate Courtney Missick will also take part in the same disciplines for the 200,, 4x100 & 4x400 m relay.
Domanique Missick has confirmed the mens high jump as well as the 4x100 & 4x400 m events and competitive challenger Ifeanyi Otuonye will enter the men long jump, the 4x 100 & 4x400 meter relays.
The 2014 games will be held in Glasglow and will commence on July 23rd, 2014.
US seize Benghazi raid 'ringleader
A suspect in the September 2012 raid on a US diplomatic post in Benghazi, Libya that left four Americans dead has been captured, the Pentagon has said.
Ahmed Abu Khat-a-llah was taken into custody in a secret raid in Libya on 15 June.
He is now being held in a secure location outside Libya, a Pentagon spokesman confirmed.
A US ambassador and three others were killed in the attack.
Clashes on approaches to Baghdad
Iraqi government forces are engaged in heavy clashes with Sunni insurgents who have made major advances in the past week.
Parts of the city of Baquba - just (37 miles) from Baghdad - were briefly taken over by the rebels.
Reports say 44 prisoners were killed during fighting at a police station in the city.
The US is deploying up to 275 military personnel to protect staff at its huge embassy in the capital.
The prime minister of Iraq's autonomous Kurdish region, Nechirvan Barzani, has told the BBC he believes Iraq may not stay together as Sunni areas feel neglected by the Shia-dominated Iraqi government.
He added it would be very hard for Iraq to return to the situation that existed before the Sunni militants, spearheaded by the Islamic State in Iraq and the Levant (ISIS), took control of the northern cities of Mosul and Tikrit in a rapid advance last week, and Tal Afar yesterday Monday.
The Iraqi government issued a statement this morning accusing neighbouring Saudi Arabia of supporting the insurgents and providing them with financial. Turkey has relocated its consulate staff from the southern Iraqi city of Basra to Kuwait because of an increased security risk, its foreign minister has said.
Trinidad Parliament approves fingerprinting of visitors, deportees
The Trinidad and Tobago parliament Monday approved of legislation allowing for the authorities to finger print visitors and deportees entering the country.
But opposition legislators voted against the Miscellaneous Provisions Administration of Justice Amendment Bill 2013, which needed a special majority to pass, citing human rights violation.
Attorney General Anand Ramlogan defended the passage of the legislation, which required a special majority, saying it would assist in the fight against crime on the island.
“What we have here is the distillation of thoughts and the collective wisdom of a number of stakeholders that are involved in the fight against crime and I dare say as a Parliament we have a duty and a responsibility to respond positively to the clarion calls made by those involved in the fight against crime on the ground for the necessary legislative tool, that can equip them to raise the detection rate that is so appallingly low in our country.”
Ramlogan assured that people would not be discriminated against by the passage of the legislation.
(CMC)
Second annual Fisherman's Tournament in Grand Turk
This weekend the second annual Fisherman's Tournament will kick off in the Capital Grand Turk.
Seamus Day told RTC News that “Each year we use the Game fishing tournament as a vehicle to raise funds for worthy causes.” Last year the organization supported the Geriatric and Specials Needs Unit, and provided them with a shaded gazebo and landscaped garden area.
Mr. Day says “This year we are 'investing' in our youth and supporting the H J Robinson High School Computer Unit, and hope to buy up to 25 new computers for the school.” He noted that as education leaps into the future we need to cater and aid for our youth say that they can be equipped with the right tools before venturing into the work force.
The organisers are inviting alumnis of the school, community stalwarts & visitors to the Calcutta, raffle and the silent plus live auctions that are scheduled for Friday 20th June at 7PM at the Salt Raker Inn Grand Turk, and fishing on Saturday 21st and Sunday June 22nd from the Governors Beach.
Raffle and auction prizes vary between $50 up to $10,000 in value.
Weigh in will commence at 3PM daily and live fish auction at 4PM daily. The prize giving ceremony will be held at 5PM on Sunday at Governs Beach. H E The Governor, Peter Beckingham, will present prizes.
TCI Hospitality Adventure 2014 Summer Camps
The Turks & Caicos Hospitality Adventure Committee reaffirms their mandate and commitment to the youth to provide programs and activities that leads to holistic development and empowerment of youths towards their full self- actualization and continuous participation in national development of the tourism product.
This summer, the Turks & Caicos Hotel & Tourisim Association and the Providenciales Chamber of Commerce will be hosting three summer camps:
July 19th – 26th Lit’l Chefs; for ages; 15yrs – 17yrs
July 7th – 12th Junior Lit’l Chef; 12yrs – 14yrs
July 7th – 12th Spa Camp; 15yrs – 18yrs
July 21st – 26th Junior Mechanics Camp; 15yrs – 18yrs
In a release to RTC News, the agents said that they are seeking the public’s support in this venture through a sponsorship of at least one local student to attend this training initiative, as there are a number of students who are interested, but cannot afford it.
FORMER GOVERNOR SPEAKS ABOUT TCI
Former Turks and Caicos Governor Gordon Wetherell & other dignitaries will be guest speakers at the YCompliance seminar that is scheduled to be held in Bermuda in October.
Mr. Wetherell is heading to Bermuda to share his story of the TCI; also joining him will be a top executive who was jailed over the Enron scandal.
Described on its website as Bermuda’s finest financial crime and compliance event, it promises to provide the opportunity for incomparable executive networking and global intelligence. yCompliance expects to host more than 200 government officials and financial industry decision-makers over the course of the day.
Keynote addresses at the upcoming seminar will include one from Stuart Fastow, who was chief financial officer of Enron Corporation, an energy trading company based in Houston, Texas, until the US Securities and Exchange Commission opened an investigation into his and the company’s conduct in 2001.
Wetherell, will address attendees after assuming direct political control back in August 2009 when the UK imposed direct rule.
This is the 2nd Annual Financial Crime and Compliance Seminar in Bermuda, which is slated in October; this year’s theme is “Who can you trust?”
Commenting on the upcoming seminar, yCompliance said in a statement, “The current high expectation of transparency and honesty reflects the concerns of many voting citizens in many countries that political leaders possess and display high levels of integrity.
“Bermuda, of course, is no exception to this, as has been evident by recent political events.
“This seminar can be seen as one of the key initiatives to position Bermuda at the forefront of action against financial crimes.”