Afghanistan Sets Date for Presidential Election
Afghan election officials say the country has set a date for its next presidential election.
The country's Independent Election Commission said in a statement Tuesday that the election will be held April 5, 2014. The date was given, according to the Islamic calendar, as “Hamal 16, 1393.”
President Hamid Karzai is serving his second term and is constitutionally barred from running for re-election.
The upcoming vote is seen as a test of Afghanistan's young democracy, after the 2009 election was marred by allegations of voter fraud.
South African Police Fire Rubber Bullets to Disperse Striking Miners
Police in South Africa have fired tear gas and rubber bullets to break up a group of striking miners who are refusing to return to work until their pay demands are met.
The miners are among 12,000 workers that Anglo American Platinum fired earlier this month after they staged a wildcat strike at its Rustenburg mine.
Police also said Tuesday that a power station at the site had been set on fire.
Anglo American Platinum has offered to reinstate the miners if they return to work by Tuesday. As part of the deal, the company is also offering a one-time payment of about $230. But the miners say that is not enough, and are demanding a raise like the one Lonmin gave its platinum miners after they went on strike earlier this year.
Burma Unrest Could Radicalize Rohingya Muslims
The head of the Association of Southeast Asian Nations is warning that ongoing sectarian violence in western Burma could radicalize minority Rohingya Muslims and threaten the stability of the whole region.
ASEAN Secretary-General Surin Pitsuwan is calling for the international community to intervene in Burma's western Rakhine state, where dozens have been killed and tens of thousands displaced in the latest outbreak of fighting between Buddhists and Muslims. He says his 10-nation bloc is in a position to offer aid to Burma.
Surin says unless the situation is resolved quickly, Burma's 1.5 million Rohingyas could become radicalized, something he says could jeopardize the economic security of South and East Asia.
The United Nations says 22,000 people have been displaced since last week in western Rakhine state. The Burmese government says the fighting has left more than 2,800 houses burned down and 67 people dead.
Human Rights Watch fears the death toll is far higher, based on the accounts of witnesses fleeing the fighting, which it says has disproportionately targeted Muslims.
The U.N. said last week that the violence threatens to undermine the reforms enacted by Burma's new nominally civilian government. It called on Burmese authorities to bring lawlessness and vigilante attacks under control and to put a stop to threats and extremist rhetoric.
Swiss Bank UBS Announces Job Cuts
Swiss bank UBS has announced it is cutting 10,000 jobs worldwide as it tries to cut costs and slims down its investment banking activities.
The jobs will go over the next three years, and amount to 16% of its current workforce of 64,000, the bank said.
The bank would not comment on where the jobs would go.
But a source confirmed that 100 traders in London were sent home after being told that the part of the business they worked for was ceasing operations.
It is understood that they were met at reception by staff from HR who told them they were going to be made redundant.
They will receive full pay and benefits for the next three weeks in lieu of notice.
It is standard practice that bank employees are prevented from trading the moment they are informed that they are losing their jobs and are only able to collect any belongings under supervision.
UBS currently employs just over 6,600 staff in the UK.
UBS lost 39bn Swiss francs (£26bn; $42bn) during the financial crisis and had to be bailed out by the Swiss authorities. The cuts are aimed at saving 3.4bn Swiss francs.
UBS chief executive Sergio Ermotti said: "This decision has been a difficult one, particularly in a business such as ours that is all about its people.
"Some reductions will result from natural attrition and we will take whatever measures we can to mitigate the overall effect."
Zurich-based UBS will focus on its private bank and a smaller investment bank, ditching much of the riskier trading business which was responsible for the bulk of its losses.
In a joint letter to shareholders, chairman Axel Weber and chief executive Mr Ermotti said: "We will no longer operate to any significant extent in businesses where risk-adjusted returns cannot meet their cost of capital."
UBS announced its restructuring plans as it reported its results for the third quarter of the year.
The bank reported a net loss of 2.17bn Swiss francs for the July to September period, compared with a profit of 1.02bn Swiss francs a year earlier. The loss was mainly due to an impairment charge of 3.1bn Swiss francs that UBS is taking to cover the cost of the changes to its investment bank.
UBS was one of the banks hardest hit during the global financial crisis.
Beached Vessel Unlikely to Affect Grand Turk Port Traffic
A 700 ton trading vessel, Mega One Triton registered in St Vincent and the Grenadines, has drifted and beached at the Governors Beach On October 25, 2012, in close proximity to the port of Grand Turk due to the high winds and rough seas resulting from the passage of Hurricane Sandy.
At the present time, the vessel does not pose a threat to other vessels using either the Commercial or Cruise ports and it is unlikely to affect entry to either facility.
Director of the Port Authority Terry Smith noted that DEMA, Customs and the Ports Authority have conducted initial assessments and have been in contact with the owners of the vessel.. Plans are also in place to carry out a detailed assessment of the vessel as soon as the weather improves. The assessment will include:
- A damage assessment by the owner to determine if there are any leaks or other damages that would impede removal;
- An assessment of the engine room and generator; and
- An assessment of the area around the vessel by DEMA to determine if any environmental damages have resulted when the weather conditions improve.
Deputy Chief Maritime Officer of DEMA, Carey Skippings said: "The weather forecast suggests that high winds will continue throughout the remainder of this week.. This will delay the transport of equipment from Providenciales to Grand Turk which is needed to move the vessel".
PFAU Publishes first Political Party Donations Registers
The Integrity Commission's Political Financial Activities Unit (PFAU) has begun receiving weekly donation returns from the Political Parties who have now registered with the Commission. The weekly returns are required to be submitted to the Commission under the Political Activities Ordinance (the Ordinance) which came into force on 28 August 2012. The Ordinance gives the Integrity Commission responsibility for ensuring that political parties and candidates comply with their respective legal obligations under the Ordinance.
The weekly returns contain details concerning all donations received by the parties, including the name of the donor, the amount of the donation, when it was received in addition to other relevant details.
The Commission is pleased to confirm that all registered parties have been complying with their obligations to provide these returns in accordance with the Ordinance.
Under Section 37 of the Political Activities Ordinance, the Integrity Commission is required to maintain a register of all donations received by registered political parties.
In addition, the Commission will ensure that arrangements are put in place for the register containing this information to be accessible for members of the public and available for public inspection under Section 74 of the Ordinance. The Commission has therefore compiled this information on a register which is now available and accessible on the Commissions page of the government website: www.sov.tc. This has been utilised on a temporary basis until such time as the Commissions website is fully operational. Eugene Otuonye QC, Director of the Integrity Commission stated that "publication of this Information and making it readily available to the public of TCI is an important part of the Commission’s function in ensuring transparency and integrity of the process".
Turks & Caicos Continues Progress to March 2013 Budget Surplus
The Turks and Caicos Islands Government (TCIG) remains on course to meet is strategic objective of returning a surplus this financial year according to the administration’s report on quarter two (Q2) financial performance published today, Mon, 29 Oct 2012.
The report shows that in first six months of the 2012/13 financial year (Apr-Sep 2012), TCIG enjoyed an overall revenue surplus of $5.72m, which was $0.9m above the budge and an improvement of $10.0m on the same period last year.
Overview
Recurrent Revenues for Q2 (Jul-Sep 2012) stood at $53.2m versus Recurrent Expenditure of $37.3m, resulting in a Recurrent Surplus of $15.9m. This surplus was then used to fund Non Recurrent Expenditure of $6.6m, Capital Contributions of $1.8m, Debt payments of $7.3m and Herzog planned repayments of $0.5m, resulting in an overall Net Revenue Account Deficit of -$0.4m for the quarter.
The increase in debt payments made during the quarter was a result of TCIG’s commitment to reduce the level of outstanding debt through the use of windfall receipts collected this financial year. As such the unbudgeted NIB receipt of $6.1m received during the quarter was used to make an unbudgeted payment of $6.0m on TCIG’s Revolving Credit Facility.
For the year to date a $5.72m Net Revenue Account Surplus was recorded. Total Recurrent Revenues stood at $102.4m versus Recurrent Expenditure of $72.6m, Non Recurrent Expenditure of $10.8m, Capital Contributions of $3.5m and total Debt payments of $8.9m.
Revenue
Income for Q2 (Jul-Sep 2012) was $9.7m or (22%) above budget and $9.4m or (22%) above last year, despite there being challenges in relation to Accommodation Tax, Stamp Duty on Land and Work Permits and Residency Fees.
Total Year to Date Revenue was $7.8m or (8%) above the budget and $18.9m or (20%) above last year, due primarily to the effect of windfall payments from Civil Recovery of $7.3m, and from the TCI National Insurance Board (NIB) of $6.1m.
Expenditure
Q2 Recurrent Expenditure was $1.3m above budget, but $5.1m below 2011/12. Savings compared to the previous year were primarily due to $4.7m being saved in employment costs as a result of the Voluntary Severance Scheme implemented last year.
Year to date Recurrent Expenditure totalled $72.6m, which was marginally ahead of the budget by $0.06m, but below the 2011/12 figure by $3.7m.
‘One off’ Non Recurrent Expenditure was in line with the budget, and $4.8m below last year. The improved performance is due to reductions in payments of Historic Liabilities of just $0.3m and civil recovery costs of $4.1m.
Conclusion
This commitment to publishing quarterly public financial statements is one of the new reforms brought about by the UK-led Interim Administration, and is also a legal requirement of all future Governments after the general election of 9 Nov 2012.
“This report continues the Government’s commitment to the transparent reporting of its finances, a cornerstone of good governance,” said Anya Williams, Deputy Governor and Head of the TCIG Civil Service.
“It also provides information about the steps being taken by the Government towards delivering a fiscal surplus in the financial year ending March 2013, as required under TCIG’s 2012/13 budget. Progress towards this objective was instrumental in facilitating fresh elections in this Territory. As this report shows, although things are improving, significant challenges remain and continuing tight cost control will be required to deliver the budgeted revenue surplus.”
Hurricane Sandy Slows US Presidential Campaign
Hurricane Sandy is playing havoc with the U.S. presidential election campaign.
As the massive storm barreled toward the East Coast of the U.S., both President Barack Obama, the Democratic incumbent, and his Republican challenger, wealthy businessman Mitt Romney, cancelled some of their scheduled rallies.
Mr. Obama returned to Washington to oversee the country's emergency preparations in advance of the center of the storm coming ashore.
He cancelled a campaign event in Florida on Sunday as well as planned campaign stops Monday in the mid-Atlantic state of Virginia, one of eight states that political analysts say will decide the November 6 election and a state that could be heavily impacted by the storm. The president also called off Tuesday's stops in Colorado and Wisconsin.
Mr. Romney also called off campaign appearances in Virginia. But he planned to continue campaigning Monday in two battleground Midwestern states away from the storm — Ohio and Iowa. He cancelled a night-time rally in Wisconsin, as well as his Tuesday appearances.
Officials: Afghan Raid Kills Insurgents, Civilians
Afghan officials say a joint Afghan-NATO operation has killed at least four Taliban insurgents and two civilians in eastern Afghanistan.
The joint raid took place Monday in the Qalai-e-Qazi area of Ghazni province.
NATO said “several insurgents” were killed and at least one detained during an operation to arrest a Taliban leader. The coalition said security forces retaliated after coming under fire from insurgents.
The coalition did not mention any civilian casualties.
But Afghan officials say at least two civilian bystanders, a man and a woman, were killed in the raid.
Applications for 2013/14 Chevening Scholarships now open for TCI applicants
Applications for Chevening Scholarships, the prestigious global scholarship programme of the UK government, are now open today, 29 October 2012.
RTC News learnt that the deadline for applicants from the British Overseas Territories is Mon, 1 Dec 2012.
The Scholarships, which are funded by the UK Foreign and Commonwealth Office (FCO) and partner organisations, operate in over 100 countries worldwide, and this year will support about 700 students.
They are awarded to exceptional individuals with leadership potential. Awards are typically for a one-year Master’s degree, in any subject and at any UK university.
The Scholarships aim to support UK foreign policy priorities by creating lasting positive relationships with future leaders, influencers and decision makers around the world.
Chris Watmough of the Governor’s Office in Grand Turk told RTC News: “The Chevening programme provides a unique opportunity for leaders of the future to build a global network of continuing professional significance. It enables talented individuals to establish social, cultural, academic or commercial partnerships with the UK. With 2012 marking the launch of our global website, www.chevening.org, we expect this year’s Chevening Scholarships to be more accessible than ever before.”
Scholars are personally selected by British High Commissions and British Embassies throughout the world, sometimes in partnership with sponsoring organisations.
Chevening alumni have an excellent record of rising to positions of leadership across a wide range of fields: including politics, business, the media, civil society, religion, and academia. Some work as MPs, leading journalists, or policy advisers to NGOs and think tanks; others occupy senior positions in commercial organisations.
Alumni include Baldwin Spencer, the Prime Minister of Antigua and Barbuda; Anote Tong, the President of Kiribati; Sergei Stanishev, the former Prime Minister of Bulgaria; Alvaro Uribe Velez, the former President of Colombia; Marek Belka, the former Prime Minister of Poland; and Gega Mgaloblishvili, the former Prime Minister of Georgia.
Priority subject areas vary from country to country and applicants should check the country pages of www.chevening.orgbefore submitting an application for a Chevening Scholarship.
The Chevening programme began in 1983 and has developed into a prestigious international scheme. Scholars come from 116 countries worldwide and 700 scholarships were awarded in 2011-2012. There are over 41,000 Chevening alumni around the world who together comprise an influential and highly regarded global network.