The Hospitality department of the Turks and Caicos Islands Community College to partner with other tourism entities
The Hospitality department of the Turks and Caicos Islands Community College is planning its annual major fundraising event, on Saturday May 4th. 2013.
Mr. Samuel E. Forbes, Vice President of the College, says the upcoming the event is multi-purpose, in that its genesis is in the Bachelors of Hotel and Tourist management program, where students are expected to manage a major event as part of their course work and assessment.
Additionally, it is to raise much needed funds for the college, and more specifically the hospitality department, to help in effecting their dynamic programs, which includes field trips, practical exercises, research activities, and other mandatory activities that are required for the successful completion of the studies at the bachelors level.
The Hospitality Department of the TCI COMC also seeks to promote the culture of the Turks and Caicos Islands to residents, visitors and Tourists alike by working in collaboration with the Director of Culture, Mr. David Bowen and the Cultural and Arts Department and the Turks and Caicos Hotel and Tourism Association (TCHTA).
Persons desirous of more information, you may contact Mr. Samuel E. Forbes, H.O.D. at the college Ms. Michelle Hosten, or Mr. David Bowen, all members of the organizing committee.
The Integrity Commission is reporting more than 95% compliance rate
It has been revealed that some 13 persons (or 4%) are yet to file their Declarations of interests with the Turks and Caicos Islands Integrity Commission. But while these persons are yet to file, the Integrity Commission is commending persons in public life in TCI, for the continuing confidence in and support for the work of the Commission as an anti-corruption agency.
1. Section 25 of the Integrity Commission Ordinance 2008 as amended requires all persons in public life, to file with the Integrity Commission, declarations of their incomes, assets and liabilities (Sec.25 Declarations) once every two years on or before the 30 June of the year in which filing is required. The declarations for the current filing cycle covered the period April 1, 2010 to March 31, 2012. (2010-2012 cycle)
2. The deadline for the 2010-2012 cycle, was 30 June 2012. The Commission however extended this time mainly for the first time declarants from the statutory and other public bodies who became persons in public life as a result of the expansion of the
list of persons in public life in March 2012.
3. First time declarants outside the 2010-2012 cycle, are however required to file their Section 25 Declarations within 90 days of becoming persons in public life.
Hon. Members of the House of Assembly fell into this category, with the exception of those who had previously filed as persons in public life by virtue of their previous public posts. Having been elected and subsequently sworn in during November, 2012, these Hon. Members had until February 2013 to file their Section 25 Declarations.
4. In addition, all Hon. Members were required to file with the Commission, Statements of their Registrable interests in accordance with Section 36B of the Ordinance and Section 103 of the Constitution. Here’s Chris Jarrettwith more on the Commission’s findings.
Chris Jarrett The Commission can now confirm that:-
(i) As at March 31, 2013, a total of 308 persons in public life (including Hon. Members) were expected to file their Section 25 Declarations with the Commission.
(ii) Out of this number, 295 persons (including Hon. Members) or about 96% filed their declarations with the Commission. 13 persons (or 4%) are yet to file.
(iii) All the Hon. Members of the House (including the Ministers) have, in addition, filed their Statements of Registerable Interests with the Commission. As required by the law, these interests include particulars of directorship or investment in companies; contracts with government, beneficial interest in land, funds to which a member contributes; sources of income; political, trade or professional associations to which a member belongs, etc.
The Integrity Commission is urging members of the community not to draw any undue speculation against a person to whom no Certificate of Compliance has yet been issued. The examination of other declarations, according to the Commission, is an on-going process.
Lynn:- In accordance with Section 13 of the Integrity Commission Ordinance, the Commission began to examine these declarations shortly after the initial deadline of June 30, 2012. Following the first-phase examinations of these declarations, the Commission can further confirm that:-
(i) The Certificates of Compliance have now been issued to 124 persons in public life out of 295 declarants that filed. The Commission is communicating with these persons in writing as to when and where to collect their Certificates of Compliance.
(ii) The examination of other declarations is an on-going process and more Certificates of Compliance will be issued in due course, as the Commission is satisfied that full and true disclosures have been made. No adverse inference should therefore be drawn at this stage against a person to whom no Certificate of Compliance has yet been issued. Indeed the Commission will not make any adverse decision (including refusal of Certificate of Compliance) without giving the declarant affected the opportunity to be heard.
According to the Integrity Commission, Registrable Interests filed by Hon Members of the House, are also being examined. Here again is Chris Jarrett.
Chris Jarrett:- With respect to Statements of Registrable Interests filed by Hon Members of the House, these are also being examined, after which they will be compiled in a Register called “Register of Interests” and published next month, May, 2013. A copy of the Register will be made available for public inspection at the Commission’s office during normal office hours. The Register will also be made available for public inspection at the House of Assembly during every sitting of the House.
8. With regards to Confidentiality of Section 25 Declarations: Unlike Statement of Registrable Interests, Section 25 declarations of incomes, assets and liabilities by persons in public life are strictly confidential and not for the public domain. A breach of this confidentiality obligation is a criminal offence with severe penalties. The Commission therefore reiterates its commitment to continue its strict enforcement of these confidentiality obligations as set out in the Ordinance.
9. Failure, without reasonable excuse, to file a declaration or filing an incomplete or untrue declaration, is a criminal offence. The Commission is also committed to enforcing the provisions of the Ordinance in this respect.
Eugene Otuonye QC, Director of the Integrity Commission stated that “The Commission is indeed pleased to note that, although the number of persons in public life increased by about 100% during the current cycle, there was more than 95% compliance rate. This high compliance rate clearly demonstrates the commitment to integrity, honesty and good faith in public life by the people of Turks and Caicos Islands. The Commission therefore commends all persons in public life in TCI, and is grateful for the continuing public confidence in and support for work of the Commission as an anti-corruption agency.”
For further information or any assistance please contact the Integrity Commission: By phone at: 9461941(Office); 232-3455; 4326173 (Compliance Officers) or 2318886 (Director) by e-mail at: secretary@integritycommission.tc or info@integritycommission.tc
This Chris Jarrettfor RTC News
Premier Ewing dispels rumors that the Minister of Immigration and Labor has not tendered his resignation
Premier of the Turks and Caicos Islands, Hon. Dr. Rufus Ewing has dispelled rumors that the Minister of Immigration and Labor has tendered his resignation.
A press statement from Premier Ewing today, said there has been much discussion in the media and amongst residents concerning the recent firearm incident and the Minister of Immigration and Labor, Hon. Ricardo Don Hue Gardiner.
Police in Providenciales are at the moment investigating that incident which occurred on Sunday 31st March 2013 around 1:40 am in the Grace Bay area in which a firearm was discharged.
It was reported that during this time, a male person shot a single bullet from his firearm on the pavement of the road, which resulted in two bystanders (a male and female) who were in the immediate vicinity at the time, receiving superficial injuries from the splinters that ricocheted and were taken to the Cheshire Hall Medical Centre where they were treated and released.
In connection with this shooting, a 26-year-old male was arrested by the Police and taken into custody. He was later granted Police Bail with a surety to return to the Station at a later date.
The Minister of Immigration and Labor was said to have been in the company of the 26-year-old male when the firearm was discharged.
In his press statement, Premier Ewing said and I quote:-
“I wish to inform the public that a thorough investigation is ongoing to ascertain the realities of the incident and the extent of the involvement of the Honorable Minister, if any. The Office of the Premier is currently awaiting such official reports of the incident from the Commissioner of Police and the Office of the Director of Public Prosecution.
In the meantime it has been rumored that the Honorable Minister of Immigration and Labor has been fired and/or has resigned from his post. Such rumors are false, as the Minister has not tendered his resignation, nor has the Premier asked for it to be tendered. We live in a country that must be governed by the rule of law and justice, and as such it is inappropriate for me to harbor any such requests before the investigations have been completed and recommendations have been made, in the interest of Good Governance.
I must however reiterate my view which is that persons in public life, including members of Cabinet and of the legislative and judicial arms of government, should conduct themselves throughout, in a manner that is befitting of the offices that they hold,” end quote.
EMPLOYMENT-Union wants regional Governments to intervene in dismissal of workers
There is no possibility that employees of LIME Turks and Caicos will be laid off.
The assurance came from General Manager of LIME TCI Mr. Drexwell Seymour in response to a regional story that the Dominica Public Service Union (DPSU) is calling on Caribbean governments to intervene to stop plans by the British telecommunications giant Cable and Wireless, which operates in the Caribbean under the brand LIME, to lay off employees across the region.
“At this point, we want to state that the redundancy and layoff at LIME, and I’m talking regionally, it has really reached a stage where enough is enough,” DPSU general secretary told the Dominica-based website, DA VIBES.
“We think it has reached a point where we believe that the governments of the respective countries need to intervene. In Dominica, that is even more important since Dominica has some shares in the company,” he noted.
According to Letang at least 12 workers there will be sent home and the public cannot continue to support the notion that the only way a company’s finances can be improved by “laying off employees who have spent all their lives at that institution, making so much sacrifices for that institution.”
He told the website that the DPSU, along with other regional unions have discussed the matter with LIME’s regional leaders and have also received assistance from an international trade union organization.
“I believe that we really need to go further than that to see how we can put a stop to that kind of practice because it is not helping the region, it is not helping employees, it’s not helping their families,” Letang added.
Premier Dr. Rufus Ewing also told RTC News that there has been no such correspondence to his office regarding such a request to intervene to stop plans by the telecommunications giant Cable and Wireless, which operates in the Caribbean under the brand LIME, to lay off employees across the region.
Mr. Seymour said a number of employees voluntarily accepted packages last year, but reiterated that there are no plans to lay off any of his staff.
The First Annual TCI Women Entrepreneurs Conference will be held on Tuesday, May 7
The First Annual TCI Women Entrepreneurs Conference will be held on Tuesday, May 7, 2013 under the theme “Network, Empower, Succeed”.
The conference, organized by the Providenciales Chamber of Commerce, is expected to bring together women who will share their experiences, challenges and innovative strategies for success to empower each other.
The conference is part of Fenelon Empowerment Services ongoing initiatives to empower Entrepreneurs across the TCI.
Attendees will leave empowered from sessions on:
·How to use technology to grow your business
·Importance of revising your business strategies to meet challenging times and customer demands
·Out of the box marketing strategies: a focus on Internet marketing
·Is your business legally compliant?
·How to avoid financially fatal mistakes
There’s no disputing the fact that many moms work just as hard as any entrepreneur and so the session on ‘creating a balance between being an Entrepreneur and a Mom-preneur,’ will likely be one of the topics that should generate much interest.
The Conference will also highlight the Youth Enterprise Program. Conference organizers say this exposure and networking with established Entrepreneurs will further enhance student's learning and enthusiasm about entrepreneurship.
The First Annual TCI Women Entrepreneurs Conference will take place at LIME’s Conference Centre on Leeward Highway from 8 am - 5 pm on Tuesday, 7th May
Registration for the conference is $120 and Registration forms are available by contacting fenelonempowerment@yahoo.com or phone 231-2486.
Business owners also have an option to contribute to this valuable experience by placing an advertisement in the Conference booklet.
$343 Million Set Aside to Complete UTECH School of Hospitality
The University of Technology (UTech) School of Hospitality and Tourism Management (SHTM) is expected to be completed this fiscal year, following an allocation of $343.6 million.
This is set out in the 2013/14 Estimates of Expenditure, now before the House of Representatives.
The allotment has been provided for the University of Technology Enhancement Project, under which construction and other activities will be carried out.
The project aims to enhance the university’s capacity to provide quality level education in Jamaica, through the expansion and upgrading of its facilities, further development of its staff, and improved financial sustainability.
Also, for this fiscal year under the project, a contract for Shared Facilities/School of Computing and Information Technology (SCIT) building is to be signed and construction works commenced; and a contract for the expansion of the administrative building is to be awarded and work commenced.
Activities for the period will also include the installation of equipment for use in the SHTM facility (standard and special) for training purposes.
Achievements of the project to date include:Kingston and St. Andrew Corporation (KSAC) building and planning approval has been received for all sub-projects; the School of Hospitality and Tourism Management is 50 per cent complete; electrical upgrading is six per cent complete; and the Environmental Laboratory is 75 per cent complete.
In terms of institutional strengthening, six have been completed and implemented under the project. They are:Improvement of Information and Communication Technology; Income Diversification Strategy; Market Needs Analysis and Graduate Tracer Needs; Improvement of Human Resource Capacity; Academic Quality Assurance; and Enhancement of the Quality of Learning and Teaching.
The project, which is being funded by the Caribbean Development Bank, began in July, 2008. After an extension, it is slated to conclude in June, 2015.
Source- JIS Reporter
Dominican Republic woos China, but Taiwan ties loom large
Dominican Republic can be the gateway for Chinese products to U.S. and European markets, due to the Caribbean country’s free trade agreements with both regions, said Economy minister Temistocles Montas, who’s visiting the Chinese capital today.
Montas arrived in China on Sunday to boost investment in his country and spoke on the “Prospects for cooperation in the Caribbean Region" at the China Institute of Contemporary International Relations (CICIR) from the capital, with various Chinese ex representatives in Latin American and CICIR members in attendance.
The official’s visit aims to take a "quantum leap" by Chinese investment in, China's second biggest trading partner in the Caribbean, despite both countries’ obstacle of not having diplomatic ties, because of Dominican Republic’s relations with Taiwan.
"The issue of diplomatic relations has not been addressed. For China, at this time, it’s essential to empower its policy of reunification with Taiwan and therefore they don’t want to touch the issue," the official said.
He noted however "a positive attitude to promote tourism and investment and cultural relations."
Montas admitted nonetheless that none of the meetings slated with Communist party or Chinese government officials materialized.
He said the visit aims to attract Chinese investors by making them aware of Dominican Republic’s “great potential in the mining sector, in agriculture or industry.”
Taiwan plastics heir sues over ‘$15 billion in Bermuda trusts’
The Bermuda Supreme Court must decide a case that involves one of Taiwan’s largest companies and a family fortune worth billions held in trusts on the Island.
Winston Wong, the son of Formosa Plastics Group’s late founder Wang Yung-ching, has sued an adviser for transferring the bulk of the family fortune valued at $15 billion into Bermuda trusts controlled by other family members.
Dr Winston Wong, eldest son of YC Yang, said in a statement today: "The Bermuda court now has an opportunity to recognize and resolve the injustice that has been perpetrated on my father, on his heirs, the shareholders of FPG, and on the people and government of Taiwan. We trust that justice and truth will prevail."
Hung Wen Hsiung set up the trusts, excluding Wang, referred to in court documents as YC Wang, from the ownership and some members of his direct family as beneficiaries, according to a statement of claim filed by Wong yesterday in the Supreme Court of Bermuda.
Bermuda is the fourth jurisdiction where Wong filed claims to recover the estate of his father, which he said is valued at $18 billion.
Bloomberg reported that Hung, Wong’s half-sisters Susan Wang and Sandy Wang, as well as group Chairman William Wong and Wilfred Wang are among the trusts’ managers, according to a copy of the court filing. Wang died in the US in 2008 at the age of 91.
He founded Taiwan’s biggest diversified industrial company, Formosa Plastics Group, which made pretax profit of NT$143 billion ($4.8 billion) in 2011, according to the company’s website. The group has worldwide assets valued at more than $85 billion and employs 100,000 people, according to the lawsuit.
The case is Between Wong Wen-Young and Grand View Private Trust Co. in the Supreme Court of Bermuda.
“We are seeking to invalidate the transfers and get a declaration that the assets are held for all the heirs of Y.C. Wang,” Mark Stoutenburg, Wong’s lawyer, said in a phone interview. Frank Fu, a spokesman for the Formosa Plastics Group, declined to comment on the lawsuit when reached by phone by Bloomberg today.
In a statement put out, Dr Winston Wong, eldest son of YC Yang, said 90 percent of his personal fortune allegedly transferred without his consent
The statement said the Bermuda outcome could determine control of Formosa Plastics Group, and that the offshore trusts are the largest shareholders of "Four Treasures"
The statement said: “Dr. Wong conducted an extensive four-year investigation that revealed the following key findings: 1) that the trusts are non-charitable; 2) that the trusts were established in secret by a minority of Y.C. Wang's family; 3) that the assets were transferred into the trusts without his father's consent; and 4) the trust assets should have been declared as part of his late father's estate.”
Dr. Wong's lawsuit focuses on the contention that the transfer of YC Wang's assets into the trusts is invalid and he seeks to have these assets returned to their rightful owners: Y.C. Wang's estate and legal heirs.
The lawsuit names as defendants, the Grand View Private Trust Company Ltd. (established in 2001), Transglobe Private Trust Company Ltd. (2002), Vantura Private Trust Company Ltd. (2005) and Universal Link Private Trust Company Ltd. (2005), all of which are incorporated in Bermuda.
Mr. Hung Wen Hsiung, the late Y.C. Wang's long-time personal financial advisor, is also named as a defendant for his role in creating the trusts and transferring Y.C. Wang's assets to the trusts.
Mr Stoutenburg noted: "It's impossible to believe that the late YC Wang gave the required consent and approved the transfer of his immense fortune to these four trusts. There is no evidence that Mr. Wang knew that the transfer of these assets would permanently strip him of his ownership of them and give control of the assets to just a tiny minority of his large family. The Bermuda trusts together hold approximately 90 percent of YC Wang's personal fortune.
"Given YC Wang's famously meticulous attention to detail, it is inconceivable that he would have approved transactions of such magnitude and importance without being involved in every step. There is no evidence, however, that he ever saw, read or signed any of the complex documents establishing the trusts — which were written in English, a language neither he nor his advisor Mr. Hung could speak or read. The defendants and their agents do not deny these facts," he continued. "This has led Dr. Wong to the inevitable conclusion that his father was deceived."
Stoutenburg explains, "The Wang Chang Gung Charitable Trust, established by YC Wang and named in honour of Dr. Wong's grandfather, was the blueprint for Mr. Wang's charitable giving. He was very detailed and specific about its mission, its management, and its financing. He included his entire family. He did nothing in secret. He left nothing to chance. He made everything transparent.
"The Bermuda trusts, established in secret, with no clear charitable mission or activity, stand in stark contrast to this and are trying to hide behind the good deeds of the Wang Chang Gung Charitable Trust. The purpose trusts were established offshore in Bermuda to avoid scrutiny in Taiwan and so that they could be hidden from Y.C. Wang's estate.
“Despite repeated requests, no proof has been provided about the purported charitable activities of the trusts, nor has Dr. Wong's widespread investigation turned up any evidence that the Bermuda trusts are engaged in any charitable activities."
In sum, says Stoutenburg, "The evidence indicates that the Bermuda trusts were primarily established to: 1) secretly ensure that the control of FPG was kept in the hands of a few family insiders and guarantee that other family members could not inherit significant shares upon YC Wang's death; 2) drastically reduce YC Wang's estate; 3) obscure the true ownership of FPG under the guise of foreign investors; and 4) hold the assets of a vast, global business empire controlled by a few members of the family. All of this was done offshore to avoid the scrutiny of Taiwan regulators."
The statement added Dr. Wong's lawyers assert that the people who control the trusts have unchecked and unregulated power to do whatever they like with the billions of dollars of assets in the trusts. There are no outside authorities or government bodies in Bermuda that actively supervise the trusts or the billions of dollars worth of assets they control.
To the contrary, these offshore purpose trusts, named in Dr. Wong's lawsuit, are controlled and self-supervised by the same people who benefit from the decisions they make, the statement said, going on to say: “The lawsuit, which marks a critical point in Dr. Wong's long-standing efforts to restore his late father's legacy, has profound implications for the future of FPG. If the Bermuda court rules that the transfer of YC Wang's FPG stake to the offshore trusts should be undone, it would affect the current management and control of FPG.
“Additionally, if the Bermuda court declares the transfer of assets to the trusts invalid and turns the assets over to YC Wang's estate, the Taiwanese Government could receive an estimated NT $158.4 billion to NT $237.6 billion in various taxes (US $5.3 billion to US $7.9 billion) — which could eliminate the Government's anticipated 2013 budget deficit of NT $214.4 billion (US$7.15 billion).”
Government auction of bonds under-subscribed - treasury bills over-subscribed
Grenada’s recent default on an international bond and uneasiness in the long-term capital market have been blamed for St. Vincent and the Grenadines being unable to successfully auction an EC$40 million (One EC dollar = US$0.37 cents) 10 year-bond.
The bond was auctioned on March 19 to assist with financing of public sector investment programme for 2013 and at the close of the action, 11 bids totalling EC$25.9 million had been received.
Prime Minister Dr. Ralph Gonsalves said marketing could also have contributed to the under-subscription of the bond.
“The Director General of Finance and Planning advises me that the marketing was not optimal,” Gonsalves said and alluded to Grenada’s recent default on its bond.
“The broker made very little effort to market the bond, with only eight entities purchasing the new issue, compared with 15 in the maturing issue. Indeed, the broker didn’t bring any new investor to the table.”
Gonsalves said “uneasiness in the long-term capital market, as a result of the current global economic situation and domestically, we believe too, with the Building & Loan Association issue” also contributed to the situation.
He said the maximum rate of interest was seven per cent to be paid semi-annually, the pricing mechanism was competitive bidding, repayment was to be amortised semi-annually and the maturation date was March 19, 2023.
The bond was auctioned on regional government securities market using the primary platform of the Eastern Caribbean Securities Exchange (ECSE) and Gonsalves said the government had decided not to ask the Trinidad company, which arranged the bond last year, to arrange the recent auction.
“We say let’s see how Bank of St. Vincent and the Grenadines will do. We asked them to be the arranger for the bond and investors were required to submit bid through any of the licensing intermediaries through the ECSE.”
Gonsalves said investors seem reluctant to commit to longer-term subscription, as evidenced by the Bank of St. Vincent and the Grenadines initial public offer, which was also under subscribed.
“I want to say this, and I want this point to soak in. investors have an uncertainty about long-term bonds of 10 years. They prefer to take shorter-term risk and wait and see, given the uncertainty in the climate.”
He said while the bond was undersubscribed, treasury bills offered one week later were over-subscribed by almost nine million dollars.
“And the treasury bills settled on a rate of less than three per cent, which was excellent. What this is telling us is that people are looking for shorter-term money.
“I have been advised by my financial advisors that they are quite confidence of the sale of the other $14 million on the market, nevertheless,” Gonsalves said.
Source-Global Post
Venezuela election: Capriles supporters in Caracas march
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Venezuelan opposition candidate Henrique Capriles has called on voters to rid the country of a government that has "lost its way".
"The government is now riddled with corruption, hatred and evil," he told tens of thousands of his supporters who marched through the streets of Caracas.
Venezuelans will go to the polls on 14 April to choose a successor to the late president, Hugo Chavez.
He died last month after 14 years in office.
Mr Capriles, a 40-year-old lawyer and politician, says he wants to encourage free-market economies and tackle crime, without neglecting strong social policies.
He is very critical of Mr Chavez's left-wing policies and says he is inspired by the Brazilian model of former President Luiz Inacio Lula da Silva, whose government managed to achieve economic growth and lift millions of people out of poverty.
"We have a nation which is calling for solutions to its problems and a government that has lost its way," Mr Capriles told supporters at a rally in the capital.
Opinion polls say the government's candidate - acting President Nicolas Maduro - has a strong lead over his rival.
But Mr Capriles called on all Venezuelans to go to the polls next Sunday and do their civic duty. He said Mr Maduro's candidacy had "crashed". Mr Maduro has visited the states of Apure, near the Colombian border, and Guarico, in Central Venezuela.
As he arrived in Guarico, he said the Venezuelan people and the armed forces would make sure there was continuity to the legacy of Hugo Chavez.
The country needs to be protected, said Mr Maduro, and "as a son of Chavez I will make sure it is from 15 April, when I become president of Venezuela".
During a rally in Amazonas state on Saturday, Mr Maduro put a curse on those not voting for him next Sunday.
He likened his main rival candidate, Henrique Capriles, to Spanish conquerors fighting indigenous people in the 16th Century.
"If anyone among the people votes against Nicolas Maduro, he is voting against himself, and the curse of Maracapana is falling on him," he said.
He was referring to a 16th Century battle when Spanish colonial forces inflicted a decisive defeat on indigenous fighters.