US lawmakers visit Cuba
A bilateral delegation of American lawmakers led by Sen. Patrick Leahy is heading to Cuba for two days of meetings.
The trip is the first to the Communist-run island by high-level U.S. politicians since President Barack Obama's re-election in November.
The visit comes a year after another group of legislators led by the Vermont Democrat came to Cuba and met with Cuban President Raul Castro.
They also visited jailed American subcontractor Alan Gross, whose 15-year sentence has frozen relations between the Cold War enemies.
It was not clear whom the group would be meeting with this time around. They were scheduled to arrive Monday.
The delegation also includes Arizona Republican Sen. Jeff Flake and Sen. Sherrod Brown, D-Ohio, among others.
Close finish predicted in Barbados general election
Barbados’ two main political parties are in a statistical dead heat ahead of Thursday’s general election with Barbadians giving the nod to Prime Minister Freundel Stuart over his main challenger, Owen Arthur, according to the latest opinion poll published on Sunday.
The poll by the Caribbean Development Research Services (CADRES), published in the Sunday Sun newspaper however indicates that Arthur’s Barbados Labour Party (BLP) still hold a “slight edge” for control of the 30 seats in the parliament.
It said that the BLP had a 37 per cent favourable rating as against 34 per cent for the ruling Democratic Labour Party (DLP) with 29 per cent of the voters either not giving an indication of how they will vote on Thursday or did not know which party would most likely win nationally.
The poll has a margin of error of minus or plus five per cent, indicated however that “the actual outcome of this election is therefore dependent on the behaviour of this “uncertain vote” adding that two possible scenarios emerge, which could be revealed in the new poll which is currently under way”.The poll found that Stuart, who headed the government after the death of then prime minister David Thompson in 2011, had a three per cent lead over Arthur, who is seeking to regain control of the government he lost in 2008.
According to the pollsters, Stuart is liked by 39 per cent of the electorate as compared with 36 per cent for Arthur.
The polls showed that the DLP had been able to narrow a six per cent lead the BLP enjoyed last September to a mere 3.4 per cent, meaning that Thursday’s general elction “is expected to go down to the wire”.
But CARDES is still predicting victory for the BLP and suggesting that despite the late surge by the ruling party, the marginal lead currently enjoyed by the BLP should be sufficient for it to produce the weakest of governments if the trend holds.
The poll conducted last weekend in all 30 constituencies, found that on the issue of whether this was the time for a change of government, 38.9 per cent said yes while 40.5 per cent said no with uncommitted, comprising of those who have not yet made up their minds or would not say which party they would be voting for, accounting for 20.6 per cent.
Bahamas To Introduce a 15% Value Added Tax from July 1, 2014
In its budget for 2012/13, the Bahamas Government has announced that it will introduce a value-added tax (VAT), to broaden the tax base, from July 1, 2014.
The Government explained that VAT is to be introduced to offset the eventual reductions to import duty rates that will accompany the Bahamas’ accession to the World Trade Organization, and to begin to consolidate the territory’s finances.
From July 1, 2014, the Bahamas will apply a 15% VAT to a broad range of goods and services – the median rate in other Caribbean territories that have implemented VAT.
VAT will replace the Hotel Occupancy Tax, but a concessionary rate of 10% will apply to the business of hotels, including food and drink sold on their premises.
Excise duties will fall by around 15% on goods that will be subject to VAT when the regime is introduced.
A zero rate will apply to exports and the international transport of goods and passengers. Exempt goods and services will include:
• Food and agricultural products that benefit from duty-free status under the Tariff Act;
• Other imports that benefit from the same, aforementioned status;
• Health and education services;
• Transfers of leases of land and residential buildings;
• Financial services;
• Social and community services.
VAT filing and payment will be required on a monthly basis, and the VAT threshold will be set at USD50,000 – requiring 3,800 local businesses to register to collect and remit VAT revenues to the Government.
Machel expresses regret to victims of assault outside nightclub
Soca star Machel Montano has apologised to the assault victims involved in the fracas outside a nightclub in Port of Spain in April 2007.
Finally freed from the burden of competition, Montano was last weekend able to take his mind away from the stage and Carnival 2013. The double Soca Monarch winner was found guilty on four charges of assault against Gerard Bowrin, Brandis Browne, Janelle Lee Chee and Russell Pollonais on December 10 last year.
He was also found guilty of using obscene language during the incident which took place outside the Zen nightclub, Keate Street.
Montano, along with songwriter Kernal Roberts, the son of calypso icon Lord Kitchener; Joel "Zan" Feveck, a member of Montano HD Family; and Rodney "Benjai" LeBlanc were all charged with a series of criminal offences arising out of a fracas outside the nightclub.
Roberts was also found guilty on two charges of assault while Benjai and Feveck were found not guilty. Montano will be sentenced on the five charges on February 25.
In an exclusive interview with the Sunday Express, Montano took time to reflect on the last year and issued an apology to the victims of the incident at the Zen.
"Now that it has all come to an end," he said, "I take the time to reflect and I admit it has been an emotionally demanding year for me, to say the least. I travelled to different continents to record, completed two albums, toured the world and dealt with the unfortunate five-year court case before me. I am grateful to my family, friends, fans and well-wishers for all the support I have received.
"I'd like to express my regret and apologise to the victims and their families for the series of events that have affected their lives over the past few years.
The actions on that day five years ago have produced unintended consequences and for that I am deeply sorry. My hope is that we learn from this unfortunate incident and become pillars in our communities to ensure these calamities never happen again."
Montano expressed humility and wonder in his ability to "still be relevant" in the industry and praised the works of the younger generation of artistes.
Source-Express
Biological 'passports' a MUST for players at 2014 World Cup as FIFA tries to combat doping
Every player at the 2014 World Cup in Brazil will be required to have a biological profile - sometimes called a biological passport.
Soccer's world governing body, FIFA, is introducing the system as part of the worldwide crackdown on doping. The biological profile is considered one of the best methods to detect the use of performance-enhancing drugs.
In- and out-of-competition tests would be conducted on all participating players.
FIFA medical officer Michel D'Hooghe says FIFA is developing plans to introduce profiling, including a steroid profile through urine and a blood collections at training camps and games.
Biological profiling is considered one of the most effective methods of detecting the use of performance-enhancing drugs and blood boosters like EPO.
EPO was first tested in FIFA competitions at Korea/Japan 2002. FIFA is also developing a hormonal profiling project.
Church ready to pay taxes
The Jamaican church said yesterday it would have no problem paying property taxes, if the Government asked it to pay up, as part of measures preparatory to an International Monetary Fund (IMF) pact.
"Whatever tax the Government feels that is reasonable for us to pay, we'll pay it," said Rev Rennard White, chairman of the powerful Jamaica Umbrella Groups of Churches (JUGC), which represents the large majority of Jamaican Christians.
In an interview with the Jamaica Observer, White said: "We should pay our fair share like everybody else, and if the Government decides to ask us to pay taxes on property that church buildings are on then so be it."
Currently, respective churches pay tax on all other properties. Yesterday, White was unable to give specific figures, but said that the church's real estate holding is "substantial" — especially those of the Catholic, Anglican, Methodist, and Seventh-day Adventist denominations.
The JUGC members are the Church of God in Jamaica, Jamaica Association of Full Gospel Churches (JAFGC), Jamaica Council of Churches (JCC), Jamaica Pentecostal Union (Apostolic) — JPU(A), Jamaica Association of Evangelicals (JAE), and the Seventh-day Adventist Church.
White said he was "strongly inclined to believe" that member-churches are up to date with their property taxes.
White's comments followed a press release in which the JUGC called on the Portia Simpson Miller-led Administration to implement other cost-saving measures such as reducing the size of the Cabinet, slashing salaries of MPs, as well as reducing the number of advisors to the Government.
"The JUGC therefore appeals to our Government, as it prepares for the next national budget, to have such actions implemented," said the release.
The JUGC's release comes on the heels of a $16.4-billion tax package announced in Parliament by Finance Minister Dr Peter Phillips last Tuesday.
The package, which drew the ire of the Opposition and has been met with general shock and outcry by the public, includes increases in property and education taxes, some Customs duties, as well as on taxes levied against lottery winnings, and telephone calls. It also includes the lifting of $45 billion from the National Housing Trust over a four-year period.
The measure is geared at increasing public revenues to secure an Extended Fund Facility with the IMF, a centrepiece of which is paying down Jamaica's ballooning debt.
Yesterday, while White expressed a willingness on the part of member churches to start paying tax on properties on which their sanctuaries are located, the issue of taxing weekly offerings remained a no-no.
White argued during the interview with the Observer that taxing offerings would amount to double taxation as the givers' incomes would have already been taxed at source.
White was keen to add that the church deduct, and pay over to the State, the required taxes from persons employed by the church.
Source--Jamaica Observer
PSOJ warns of massive job losses in Jamaica
The Private Sector Organisation of Jamaica (PSOJ) is calling on the Government to immediately review and make changes to aspects of its new tax regime, which it said could do more harm than good to the economy.
"The PSOJ is urging the Government to immediately review and change its tax treatment of certain raw material inputs under the new waiver caps imposed by the proposed IMF agreement," said the group in a release on the weekend.
"Unless modified, this proposed tax treatment will likely force the shut-down of critical Jamaican industries and cause thousands of Jamaican workers to lose their jobs," said the release.
The PSOJ release did not specify the raw material input or the industries it said would be affected.
But yesterday, Jamaica Manufacturers' Association President Brian Pengelley told the Jamaica Observer that those raw materials included molasses and sugar, the importation of which the Government is now proposing to tax. According to Pengelley, the proposal will devastate Jamaica's critical rum and beverage industries.
On Tuesday, the Government announced the new $16.4-billion tax measure, which it hopes will increase the country's revenue, as part of the requirement to secure a loan agreement with the International Monetary Fund (IMF). The measure includes increases in property and education taxes, some customs duties, as well as on taxes levied against lottery winnings and telephone calls.
Last week Thursday, Finance Minister Dr Peter Phillips told reporters at a press conference that he did not foresee a review of the new tax measures, which, since its announcement, has been decried by the Opposition Jamaica Labour Party, business sector groups and members of the public alike.
The PSOJ added in its weekend release: "The organisation is renewing calls for the introduction and implementation of a growth plan for Jamaica, post the IMF deal. This is necessary in order to counter the recessionary impact that will come with the newly signed agreement."
German economy to return to growth, says Bundesbank
Germany will avoid recession and return to growth in the first quarter of 2013, the country's central bank has said.
The Bundesbank's monthly report for February forecast that the rest of 2013 will see a gradual pick-up in activity in Europe's biggest economy.
If the economy shrank again in the current quarter, Germany would technically be in recession, defined as two quarters of contraction.
The economy shrank by 0.6% in the last three months of 2012.
"As it currently looks, a plus in economic output can be expected in the first quarter of this year," the Bundesbank said.
The report continued: "For the rest of this year, the economy is expected to pick up gradually, even if the external economic environment will provide no trigger for a sharp surge in demand."
Although Germany's economy has held up better than most of those in the eurozone, its recent slowdown has fuelled worries about Europe's recovery.
The purchasing power of German consumers and industry is seen as key to the recovery of the region.
Germany's gross domestic product slowed throughout 2012. GDP grew by 0.5% in the first quarter of 2012, and then by 0.3% in the second quarter and 0.2% in the third quarter.
With a contraction of 0.6% in the final three months of last year, the economy expanded by just 0.7% in 2012, compared with 3% in 2011.
The 17-nation eurozone fell deeper into recession at the end of 2012.
The European Central Bank has forecast that the eurozone will shrink 0.3% in 2013, and only start to recover later in the year.
Japan shares up as G20 statement stokes weak yen hopes
Japanese shares have risen after finance ministers of the G20 group of nations avoided singling out Japan for criticism over the recent yen weakness.
The yen has dipped nearly 15% against the US dollar since November amid Japan's efforts to stoke inflation.
There were concerns that a criticism from G20 may prompt Japan to alter its aggressive stance. The fears were that it would result in the yen rising again and hurt Japan's plans to spur growth.
Japan's Nikkei 225 index rose 2%.
Meanwhile, the Japanese currency continued to weaken. It fell 0.6% to 94.12 yen against the US dollar.
It also dipped 0.5% to 125.50 yen against the euro in early Asian trade.
"At the G20 meeting, there wasn't as much criticism from emerging countries about the recent yen's weakness as feared. That spurred yen selling," said Kyoya Okazawa, head of global equities at BNP Paribas.
Analysts say the G20 communique at the end of its meeting in Moscow on Saturday was an endorsement for Japan's recent monetary moves.
The policies have seen Japan's central bank, the Bank of Japan, double its inflation target to 2% in attempt to spur domestic consumption.
The central bank has also expanded a key stimulus measure aimed at keeping long term interest rates low.
Analysts say that as Japan continues to pursue these policies, the yen is likely to weaken further."With Japan, as yet, using various measures to ease monetary conditions domestically, we do not expect a large international backlash against its efforts and look for the Japanese yen to continue to decline gradually as the easier monetary conditions feed through," Barclays Capital said in a note.
A weak yen bodes well for the Japanese exporters and its economy on various fronts.
To begin with, it makes their goods more affordable to foreign buyers. It also helps boost the exporters' profits when they repatriate their foreign earnings back home.
And as firms see their profits rise, they are likely to have a bigger cash pile to invest in research and development or expansion of their facilities.
Investment in research helps the firms become more competitive as they develop new products. Meanwhile, increased capital investment helps boost Japan's overall economic growth.
Amazon dismisses German warehouse security firm
Online retailer Amazon has ended the contract of a security firm employed at one of its German warehouses, following complaints about workers' conditions.
The company, Hensel European Security Services (Hess), was accused of harassing seasonal workers in a TV documentary aired last week.
It prompted calls for an investigation from the German government.
Amazon said it had now terminated its relationship with the firm "with immediate effect".
"Amazon has zero-tolerance for discrimination and intimidation and expects the same from every company we work with," a spokesperson for Amazon said.
The documentary by state broadcaster ARD showed the conditions of employees at the warehouse in Bad Hersfeld, in the state of Hesse, brought in to help with the Christmas rush.
It claimed employees' rooms were searched, they were frisked at breakfast and constantly watched.
Many of the temporary workers came from Spain and Poland, and foreign workers were shown receiving the worst harassment from security guards.
Hess was under contract to an employment agency, not to Amazon itself.
Hess shares its name with Hitler's deputy in the Nazi party Rudolf Hess, and the documentary showed security guards wearing branded clothing linked with the neo-Nazi movement.
Last week the firm denied suggestions that it supported far-right political views.