China's growth forecast cut by IMF
The International Monetary Fund (IMF) has cuts its economic growth forecast for China, with weakness in the global economy set to hit exports.
The IMF said it now expected the world's second largest economy to grow by "around 7.75%" this year, and at about the same pace in 2014.
That is lower than the 8% forecast for 2013 the IMF made in its World Economic Outlook, published last month.
The IMF also called for a "decisive impetus to reforms" in the country.
Growth still 'robust'
Last year, China's economy grew by 7.8%, its slowest rate for 13 years. In the first three months of this year, it expanded at a lower-than-expected annual pace of 7.7%.
Last week, the release of disappointing Chinese manufacturing figures was one of the factors behind a global sell-off in shares. A survey indicated that factory activity had contracted for the first time in seven months in May.
Speaking to reporters in Beijing, IMF first deputy managing director David Lipton said: "The Chinese economy is expected to grow at around 7.75% this year and at about the same pace next year.
"Chinese export growth has been, after years and years of very rapid growth, very slow because of the state of the global economy and we now are taking our projections of the global economy into effect."
Among the measures called for by the IMF are slower growth in social financing and a relaxation of controls on interest rates and the exchange rate.
Despite the cut in the IMF's forecast, Mr Lipton noted: "Let's not lose sight of the fact that China is still growing at a very fast rate.
"We're projecting that growth will remain robust."
And he added that growth "should pick up moderately in the course of the second half of this year, as the recent credit expansion gains traction and in line with a mild pick-up in the global economy".
Source-BBC
Jaguar Land Rover roars ahead to record £1.67bn profit
Profits at Jaguar Land Rover have roared to an all-time high.
Pre-tax annual profits at the Coventry-based vehicle maker rose 11% to £1.67bn and helped temper a 36% fall in profits at the company's parent group, Tata Motors.
Total world sales at Jaguar Land Rover were up 22% to almost 375,000 vehicles.
Jaguar Land Rover chief executive Dr Ralf Speth said the numbers demonstrated a strong demand for the company's products.
"We invested significantly in the product creation process, in our advanced manufacturing sites and created more than 3,000 jobs," he said.
During the 2012-13 financial year, the company introduced the all-new Range Rover, the Jaguar XF and XJ and the XF Sportbrake.
Net profits between January and March at Jaguar's parent company Tata Motors, itself part of the Indian salt-to-steel conglomerate Tata, fell 22.89bn rupees to 39.45bn rupees ($705m; £466m) compared to the same three months in 2012.
But analysts were untroubled by the fall in the net profit figure, given that a one-off tax gain made up a significant slice of the profits in the January-to-March period in 2012.
In addition, sales revenues were 10% higher in the first quarter of this year at 560bn rupees.
Omarion Sued By Fans
Omarion Sued By Fans, "It's Omarion Fault We Got Our Asses Kicked" No Security!! -- Omarion is being sued by two male fans who got their asses kicked by random thugs at an O show ... and claim the singer's to blame 'cause he didn't provide the "tight security" he advertised. Brunel Jordonne and Kenson Sainvilus filed the lawsuit against Omarion and Ole Bar & Grill in Newburgh, NY, claiming they attended O's concert on September 21 ... and a bunch of fights broke out.
According to the lawsuit, club security tried to defuse the situation by pushing everyone out to the parking lot, but the two men wanted to stay at their VIP table ... where they felt safe. Jordonne and Sainvilus claim security forced them outside anyway -- where the two men were then attacked by a group of strangers for no reason ... and things got crazy.
According to the docs, Sainvilus was punched in the head several times and security even maced him as he tried to escape the parking lot fight. Meanwhile, Jordonne claims he was kicked in the head and had to be airlifted to a hospital with life-threatening injuries. Sainvilus says he was also hospitalized.
The irony -- the men claim Omarion advertised "tight security" on his concert poster ... and now believe he miserably failed to live up to that promise. They're now suing for unspecified damages. Calls to Omarion's camp have not been returned.
Demi Moore Missed Daughter's Graduation Ceremony
Demi Moore did not attend her daughter Scout Willis' Brown University graduation ceremony on Sunday, May 26. The 21-year-old Scout, however, still had her sisters Rumer Willis and Tallulah Willis, and father Bruce Willis to celebrate the wonderful moment. Bruce's wife Emma Heming and Rumer's boyfriend Jayson Blair joined the celebration as well.
The family members were spotted eating out at Providence Coal-Fired Pizza after the event. A source told Radar Online, "The buzz was that Demi was supposed to come in, but everyone was wondering where she was. She was nowhere to be seen all weekend, but everyone seemed to be having a perfectly good time without her."
Another source said that Bruce and Emma spent a few days in Rhode Island before the graduation ceremony. "Bruce was spotted all around town starting on Friday, shopping and eating out with Emma. Everyone was wondering where Demi was," the source said.
Demi and her daughter reportedly are not close, because the girls don't like her partying non-stop after splitting from Ashton Kutcher. However, Rumer is said trying to reconcile with her mother. "Demi and Rumer have been working on repairing their relationship. But the problem is that Demi wants to go out and party with her again and that is where all the problems started before. They're apprehensive," a source told the site.
Rumer and Demi were pictured together for the first time in months in April as they stepped out of a yoga class. "Demi's girls are really apprehensive about letting their mother back into their lives. They want her to be totally over Ashton and healthy," the source said.
Andre 3000's Mother Passes Away on His 38th Birthday
Sad news came from Andre Benjamin and his family. The OutKast member is grieving the loss of his mother, Sharon Benjamin-Hodo, a representative confirms. According to report, Sharon was found dead at her Atlanta home on Dre's 38th birthday, which was on Monday, May 27. No other details are available at the moment.
Sharon, who once worked as a real estate agent while raising Andre as a single mother, was also known for her humanitarian work. She founded The Starlight Camp for underprivileged children and operated it through the New Morning Light Missionary Baptist Church in Conley, GA, where her husband Pastor Robert Hodo preached.
Sharon also played a role in co-managing OutKast during their early career in the industry. As a duo, Andre and Antwan "Big Boi" Patton have released five multiplatinum albums. After releasing "Idlewild" in 2006, they took a break as a group and have been focusing on their respective solo projects ever since.
Prayers and condolences have been pouring in since news of Sharon's passing broke out. "My condolences go out to Dre, and the entire Benjamin-Hodo family," Jermaine Dupri tweeted. Russell Simmons added, "Prayers for Andre 3000..."
In lieu of flowers, well-wishers are respectfully asked to support The Starlight Camp, a cause close to Sharon's heart, the representative for the family tells Billboard.
Source-Aceshowbiz
Toots Returns Home For Tests Today -Head Injury Halts US Acoustic Tour
The head injury that Frederick 'Toots' Hibbert, who performs as Toots & the Maytals, suffered just over a week ago is affecting him more severely than it initially appeared. Hibbert has cut an acoustic tour of the United States (US) short and will return to Jamaica today for tests.
The tour started in New York a day after he was hit by a bottle flung by a patron at the Dominion Riverrock Outdoor Sports and Music Festival in Richmond, Virginia, on Saturday, May 18. It was slated to run until June 2.
A release from Hibbert's management team said "Toots & the Maytals' Toots Hibbert is reluc-tantly cancelling the balance of his US acoustic concert tour due to continuing medical issues stemming from the bottle-throwing incident on Saturday, May 18, 2013, at the Riverrock Concert in Richmond, Virginia, when he was struck in the head by a large vodka bottle thrown at him by an audience member while performing. The blow to his head necessitated him being rushed to a local hospital for initial evaluation and treatment. Since that time, Toots has sought additional medical treatment while trying to complete his tour, given his medical condition."
After the incident, Hibbert was treated at the VCU Medical Centre in Richmond.
The Jamaica Gleaner reported last week Monday that Hibbert had started the acoustic tour and was at the Westhampton Beach Performing Arts Centre. He was then reported to be handling the incident, "taking it in good stride - as best as one can handle such a thing". William C. Lewis, a 19-year-old of Henrico, Virginia, was charged with aggravated assault and public intoxication in relation to the incident.
There are intentions to honour the dates which Hibbert has had to miss, although a definite date cannot be set. The release said "All the concerts on this tour which have been cancelled will be rescheduled for later in the year after Toots has been given a clean bill of health from his doctors." Before this cancellation, there had already been plans for a second part of the acoustic tour. Hibbert is slated to perform in the US and Europe with his son Hopeton on bass, a pair of harmony vocalists and a percussionist.
The release ended with Hibbert expressing his disappointment. It read: "Toots regrets having to disappoint any of his fans but this serious head injury requires that he return home to attend to his medical issues." He also spoke of his appreciation for the support he has been receiving from fans.
Source-Jamaica Gleaner
Fire Aboard Royal Caribbean Cruise Ship
More than 2,200 passengers were to be flown from The Bahamas back to Baltimore after a fire broke out aboard a Royal Caribbean ship on Monday.
The fire did enough damage that the rest of the cruise was cancelled the company said.
The fire that began at 2:50 a.m. was extinguished about two hours later with no injuries reported. A cause wasn't immediately known.
The Grandeur of the Seas, which left Baltimore on Friday, never lost power and was able to sail into port in Freeport, Bahamas, Monday afternoon. It had been planned to be a seven-night cruise.
Royal Caribbean said on its website and through social media that executives met with passengers in port and that the cruise line was arranging flights for all 2,224 guests on Tuesday. It said passengers will receive a full refund of their fare and a certificate for a future cruise.
Aboard ship early Monday, the captain announced that passengers needed to go to their muster stations.
Passenger Mark J. Ormesher, a native of England, who lives in Manassas, Virginia, said he and his girlfriend smelled acrid smoke as they went to their muster station, the ship's casino. The crew quickly provided instruction.
Passengers calm
"This encouraged calm among the passengers," Ormesher said. Passengers were required to remain at their stations for four hours, he said, and the captain "provided us as much information as we needed to stay safe."
Ormesher, who is 25 and on his first cruise, said the air conditioner had been shut off, and as the hours passed and the ship got hot, bottled water was distributed. The crew and passengers remained calm, and helped those who needed it.
In Freeport, Bahamas, passenger Andrea Sanders of Washington DC, said she slept on the deck with hundreds of other passengers as smoke billowed out of the stern of the ship. "I was terrified with it being my first cruise," Sanders told The Freeport News as she ate lunch in port.
Royal Caribbean said all guests and 796 crew were safe and accounted for. Spokeswoman Cynthia Martinez said in an email that the company was arranging 11 different charter flights for passengers. Photos show a substantial area of the stern burned on several decks of the ship, the length of about three football fields.
The company in a statement on its website said it is "deeply sorry for this unexpected development in our guests' vacation. We understand that this may have been a very stressful time for them. We appreciate their patience and cooperation in dealing with this unfortunate situation."
Carnival Corp also had trouble with fire aboard one of its ships earlier this year.
The 900-foot Triumph was disabled during a February cruise by an engine room fire in the Gulf of Mexico, leaving thousands of passengers to endure cold food, unsanitary conditions and power outages while the ship was towed to Mobile, Alabama. It remained there for repairs until early May when it headed back to sea under its own power .
The National Transportation Safety Board said in a tweet that it will join the United States Coast Guard in investigating the fire on the Grandeur.
Martinez said in a news release that a cruise aboard the Grandeur of the Seas set for May 31 has been cancelled so the ship can be repaired.
Source- AP
Cayman Islands gets new premier
The Governor of Cayman Islands has officially appointed People’s Progressive Movement (PPM) leader Alden McLaughlin as the territory’s new premier.
Following last Wednesday’s general elections, which gave the opposition PPM nine out of the 18 elected seats in the Legislative Assembly, one short of an absolute majority, McLaughlin made former short-term premier Juliana O'Connor-Connolly speaker of the Assembly, giving him the necessary majority that he needed to form a government.
Governor Duncan Taylor announced on Tuesday that O'Connor-Connolly had agreed to join the PPM, thus negating a potential constitutional objection as to whether the PPM commanded a clear parliamentary majority.
“I was today informed that the Hon. Juliana O’Connor-Connolly, MLA, JP has joined the People’s Progressive Movement. This, in effect, gives the PPM a majority of seats in the Legislative Assembly,” said Taylor. “I subsequently received a recommendation from all the elected members of that party as to who they would wish to be appointed Premier.”
He said that in line with their recommendation, and under Section 49(2) of the Constitution, he had appointed McLaughlin as premier of the Cayman Islands.
“I would like to congratulate the new premier on his appointment,” the governor added.
McLaughlin was scheduled to hold a press conference later on Tuesday to reveal the make-up of his Cabinet.
In the meantime, his parliamentary position was further strengthened on Tuesday with the acceptance of a Cabinet post by independent member Tara Rivers, who broke the stranglehold enjoyed by former premier McKeeva Bush on his district of West Bay.
The political status quo in the Cayman Islands was shaken up at the end of last year with the arrest of then premier Bush on suspicion of fraud and corruption. He has since been formally charged with two counts of misconduct in public office, four counts of breach of trust by a member of the Legislative Assembly, and five counts of theft.
One week after his arrest on December 11, 2012, Bush was ousted from office when Cayman Islands lawmakers passed a vote of no confidence in him, which led to a split of the UDP and a subsequent minority government in the territory.
Just one member of the breakaway faction of the UDP that voted against Bush in the vote of no-confidence, O’Connor Connolly, was able to retain her seat in last week’s election.
CARICOM and US sign trade and investment framework agreement
The Caribbean Community (CARICOM) and the United States signed a trade and investment framework agreement (TIFA) on Tuesday in Port-of-Spain, Trinidad and Tobago.
CARICOM chairman, Michel Martelly, the president of Haiti, and Joseph Biden, the vice president of the United States, signed on behalf of the two sides.
The signing ceremony took place following a meeting between CARICOM heads of government and the US vice president in Port of Spain.
The agreement is expected to drive strengthened trade and investment ties between CARICOM and the United States, as it would serve as a mechanism for the two sides to develop practical strategies on a wide range of trade, investment and economic cooperation issues. This is seen as essential to spurring economic development and diversification of the region, and to contributing to improvement in the well-being of citizens.
The implementation of the agreement will be executed under the mechanism of the CARICOM-US Trade and Investment Council, which will be led by a nominee of the CARICOM chair and the Office of the United States Trade Representative (USTR).
The TIFA, which is the result of a revision of an agreement signed in 1991, takes account of the multilateral trading environment created by the WTO, as well as changes in the regional environment brought on by the implementation of the CARICOM Single Market and Economy (CSME).
An initial action agenda, which is annexed to the agreement, sets out areas for attention, which include matters relating to the WTO; bilateral trade and investment arrangements; cooperation in regional and multilateral areas; support for regional integration; cooperation to promote and respect fundamental labour rights, social protection, and workforce development; and the facilitation of trade and investment opportunities.
In addition, the agreement establishes the framework for the discussion of issues to address the digital divide through the promotion of innovation and the dissemination of technology for increasing competitiveness, job creation, economic development and trade, as well as for discussing US trade and investment-related legislation which have extra-territorial impact. Specific examples of legislation in this regard are the Foreign Account Tax Compliance Act (FATCA), and the New US Food Safety Modernization Act (FSMA).
There are also other issues of critical importance to CARICOM, particularly with respect to export development, which through engagement with representatives and officials of the United States administration and the Congress, mutually acceptable outcomes would be achieved.
Among the issues of critical and urgent importance to CARICOM are the threat faced by CARICOM exports of rum in the US market and the US/Antigua and Barbuda cross-border gambling services dispute.
In addition, the agreement will allow for monitoring of developments in the context of the US president’s 2013 trade policy agenda.
Signing of the revised TIFA also signalled the formal launch of the revitalized Trade and Investment Council (TIC) which would be essential for CARICOM and the US to engage in the areas mentioned. A first meeting of the United States-CARICOM Trade and Investment Council under the revised TIFA is envisioned before the end of 2013.
Crime down 11 percent in Bahamas, says police chief
Crime in The Bahamas decreased by 11 percent between January 1 and May 27, 2013, compared to the same period in 2012, according to statistics released by Police Commissioner Ellison Greenslade on Monday.
There were 4,763 crimes reported during this period last year compared to 4,238 reported this year.
According to Greenslade, violent crimes are down in all categories except attempted rape, armed robbery, which rose by five percent, and attempted robbery, which increased by 33 percent.
Crimes against the person increased by one percent and crimes against the property decreased by 13 percent.
Murders were down by 13 percent; attempted murders were down by 60 percent and rapes decreased by 10 percent.
There were 49 murders recorded this year so far compared to 56 this time last year.
There were four attempted murders to date, compared to 10 this time last year.
Police recorded 37 rapes so far this year and 41 rapes last year this same time.
The number of reported attempted rapes went from one case up to May 27, 2012 to 11 cases during the same time this year.
There were 457 armed robberies so far this year compared to 436 this time last year.
Robbery is down by four percent with 147 reported so far this year compared to 153 in the same period last year.
There were nine attempted robberies this time last year and 12 recorded for the year so far.
Burglary is down 24 percent; housebreaking is down 25 percent; stealing is down three percent; stealing from a vehicle is down 11 percent and stolen vehicle matters are down 16 percent.
Shopbreaking went up eight percent.
Careless
Greenslade said he believed that Bahamians have become careless as a people.
“We have turned away from some of the things that have always worked for us in this country and I fear that we are paying the price now for it,” he said.
“[I say] careless meaning disrespectful; careless meaning treading on the rights of other people.
“In a country where we should be socialized and we should act as decent human beings, we act, I daresay many of us, like animals.
“Anyone that can take a knife, turn to another person’s child and stick it into that person’s body, not just once or twice, but many times over, goes home and sleeps, cannot be like you and I.”
With a rising murder rate, the commissioner said the statistics should not give comfort to anyone.
“It doesn’t give me any comfort, it shouldn’t give them any comfort,” he said.
“There are far too many persons whose homes are broken into every day.”
He noted that there are too many crimes being committed in the country.
Courtesy of Travis Cartwright-Carroll of Nassau Guardian