Disappointing Corporate Earnings & Worries About Spain Hurt Markets
Disappointing corporate earnings and continuing worries about Spain's battered economy cut stock prices on key European and U.S. exchanges Tuesday. Crude oil prices also declined.
France's CAC-40 and Germany's DAX were down more than two percent at the close, while in New York, the benchmark Dow lost more than 1.7 percent while the S&P 500 fell more than 1.4 percent.
Analysts say the declines follow weaker than expected earnings from major companies like IBM, FedEx, and McDonald's. Chemical company DuPont said it will cut 1,500 jobs after profits declined sharply.
Traders apparently saw the disappointing earning reports as a sign that the economy will slow down, cutting demand for energy. That perception is one reason that oil prices declined in key markets.
Bacterium Could Deliver Vaccine with No Needles
A type of bacterium that forms long-lasting spores could be a vehicle for delivering vaccines without the use of needles.
Simon Cutting, a bacterial geneticist at Royal Holloway, University of London, worked with one of the most intensively studied bacteria, Bacillus subtilis. He discovered that the microorganism's spores could be used to carry into the body substances called antigens that trigger an immune response. He has evaluated this approach using antigen molecules from a number of important disease organisms, including tuberculosis, influenza and tetanus.
The Bacillus-based vaccine can be delivered as a nasal spray, an oral liquid, a capsule or a soluble film.
Cutting notes that because the spores are stable, these vaccines do not require refrigeration. In addition, oral vaccines are inexpensive to produce and easier to store. And because they do not use needles, they are safer to administer, especially in developing countries where the AIDS virus, HIV, is widespread.
Cutting is forming a company to develop the Bacillus vaccine technology.
Fatal Accident in Providenciales claims life of one
In Providenciales on Friday 19 October 2012, a 31-year-old male suffered fatal injuries when the vehicle in which he was a driving collided with another vehicle on the Millennium Highway in Blue Hills.
The passenger of the vehicle in which the victim was driving, the driver and passenger of the other vehicle suffered non-life threatening injuries.
Traffic Officer Pierre explained, “The 911 center was alerted around 10:57pm on Friday to a serious motor vehicle accident on the Millennium Highway, in Blue Hills involving two vehicles. “All occupants of the two vehicles were injured and rushed to the Cheshire Hall Medical Centre by ambulance. Sadly one of the passengers succumbed to his injuries and was pronounced dead at 3:40am.”
The investigation into the cause of the accident is being lead by the Traffic Division of the Royal Turks and Caicos Islands Police. Name of the deceased is being withheld pending the notification of next of kin.
Anyone who either saw the collision or who has information to call the police at 911 or Crimestoppers at 1-800-8477. Tips can also be left in English, French or Spanish at www.crimestoppers.tc or by becoming a friend of Crimestoppers TCI on Facebook.
Gun man fired shots at vehicle, injuring 1 man
In Providenciales, on Friday (19 October 2012) at 3:00am, a 20 year old man received minor injuries to his upper right arm after a gunman opened fire on a White Truck in which he was a passenger.
It was reported that a lone gunman walked up to the parked vehicle and opened fire, discharging a number of shots. The shooting took place in the vicinity of the Miniature Golf Course on the Leeward Highway.
The gunman was said to be wearing short checkered pants, a white top and white shoes.
According to Sergeant of Police Andy Harry, of the Criminal Investigation Division, “An incident of this nature is one of a serious concern. Gun related offences are serious and we are seeking the public’s assistance and asking that anyone with information or who may have seen any person wearing the described clothing during the night in question to please inform the police.”
The victim was taken to the Hospital where he has been admitted for observation.
The gun man remains at large.
Anyone who may have heard or seen anything is asked to call the police at 911 or Crimestoppers at 1-800-8477. Tips can also be left in English, French or Spanish atwww.crimestoppers.tcor by becoming a friend of Crimestoppers TCI on Facebook.
PNP Leader Dr. Rufus Ewing and Deputy Leader Mr. Carlos Simons demonstrate leadership
At the first National Debate in the TCI, the PNP Leadership team of Dr. Rufus Ewing and Mr. Carlos Simons QC demonstrated why the PNP is the right choice on election day, November 09, 2012.
Those in attendance, those watching online and listening in across the country saw and heard from a strong and confident PNP team as the key issues were discussed.
The first hour of the debate Mr. Simons spoke confidently and directly when asked about how the PNP would stimulate the economy and bring more jobs to TCI.
"We are open for business , we want to encourage foreign investment. You don’t say “Bar The Gates” like the other party!"
Mr. Simons also responded to an question on what the PNP education plan was. In his response, Mr. Simons was clear and concise.
“Under the PNP no child will be left behind. Every child has the right to an education. We will increase classrooms where needed which is right here on Providenciales. We will build a primary school and a high school. With regard to tertiary education, we will develop of a full technical faculty to train our people for the trades our economy needs and will need such as electricians, plumbers, millworkers, welders, auto mechanics and such.”
Mr. Simons also noted that "teachers are the guardians of our future, and we will compensate them accordingly".
Throughout the Deputy Leaders Debate, Mr Simons showed an understanding of the key issues and his passion and belief in the PNP plan to bring prosperity and progress to the country.
In the second hour of the debate, leaders of the national parties squared off to discuss the key issues.
PNP Leader Dr. Rufus Ewing provided those in attendance and those at home the PNP plans and clearly demonstrated his knowledge of the most important issues facing the country.
He passionately detailed the PNP plan with regard to education and pointed out that "the PNP will design and support an education system that looks to the future"
When asked about how to improve health care in the TCI Dr. Ewing responded that:
"A PNP Government will ensure our Primary Care Clinics are functioning well and able to deliver primary services for our people....we will make sure that persons who have lost their jobs still have access to health care. We will monitor Interhealth Canada and ensure that they meet all of the obligations under the contract and they will pay the penalty if those obligations are not being met."
Dr. Ewing talked about creating jobs and explained the PNP plan to grow the economy by diversification, expanding the agricultural industry, and providing more support for tourism. He reiterated that under a PNP administration the word would go out that TCI is "Open For Business!"
Consistently and repeatedly Dr. Ewing demonstrated his knowledge of all the issues and presented the PNP platform with passion and conviction.
In his closing statement Dr. Ewing addressed the country saying:
"On November 09 we have an important decision to make...you need to elect a government that knows how to grow the economy, one that has a vision for the future and that team is the PNP"
VIEWS SOUGHT ON TRADE DEAL WITH US
The UK Embassy in Washington has confirmed that their ongoing trade discussions with their US counterparts have secured an invitation for the Turks and Caicos Island to join the Caribbean Basin Initiative (CBI) today, Wed 17 Oct 2012.
The CBI is an initiative that allows members to enter into tariff concession agreements with the United States. This follows on from the situation this summer where it was thought incorrectly that the TCI would lose its import waivers to the US for conch and other fish products, following an announcement by President Obama.
These discussions between TCIG officials, the Governor’s Office and British embassy in Washington with US trade officials revealed the opportunity to TCI of joining the CBI. At the end of July the Governor conveyed a letter to the US Trade Representative to request the TCI to join.
The CBI tariff concession mechanism is applicable to a wider range of goods than the existing Most Favoured Nation (MFN) mechanism, and includes access for manufactured items. In joining this second mechanism TCI would be seen as putting in place a further building block to stimulate a wider range of business activity in the territory, when the largest trading partner is inevitably going to be North America. Over half of the other Caribbean countries are already in the CBI. The MFN mechanism would also continue and still give existing TCI products, such as conch and lobster, tariff concessions into the USA.
The process to enter the CBI is now underway. On 11 October the US trade authorities gazetted a notice in the US Federal Register requesting public comments on the granting of CBI benefits to the TCI. Additionally, the US has asked the TCI to undertake a contributing public consultation to gather the views of businesses, stakeholders and the public here in TCI as to their views on the benefits of joining.
"We have written to the Chambers of Commerce on Providenciales and Grand Turk and other business bodies inviting their comments,"said Philip Rushbrook of the Governor’s Office. "I am also inviting the views of the political parties and the general public. Please could we receive all views via GovernorGT@fco.gov.uk by Monday, 5th November. Thereafter, we will prepare with TCIG colleagues a portfolio of the comments received and send them, via the British embassy in Washington, back to the US trade authorities by the US Government deadline of 9th November."
Registration facility opens for British Postgraduate Scholarships
Turks and Caicos Islands candidates seeking a fully funded postgraduate scholarship in the United Kingdom for 2013/14 can now register their interest, thanks to a new website it was announced by the Governor’s Office today, Wed, 17 Oct 2012.
The site, www.chevening.org, has been launched to give details of Chevening Scholarships, the UK government’s global scholarship programme. 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, including two places from the UK Overseas Territories. Awards are typically for a one-year Master’s degree, in any subject and at any UK university.
According to His Excellency Governor Ric Todd the new website aims to make the Scholarships more accessible than ever before: “By registering their interest in advance, candidates will receive alerts at key stages in the process, including when applications open, and find out more about the process and priorities.”
He emphasised that Scholarships are aimed particularly at high quality candidates who are likely to assume leadership roles in their future careers. “There are no age limits, but candidates who have already demonstrated leadership potential will be particularly welcome.” Turks and Caicos is keen to attract candidates with a background in public financial management and environmental studies.
In addition to giving details of the Chevening application process, the website provides updates about latest developments in the scheme worldwide, and important information on applying for higher education courses in the UK more generally.
TCI Hydra Winding Up Judgment by AG/Civil Recovery
The Attorney General and Civil Recovery Unit issued an immediate release to RTC News in relations to TCI Hydra Developments Ltd.
On 12 October 2012, the Supreme Court handed down judgment granting TCIG's Petition to wind up TCI Hydra Developments Ltd. TCI Hydra had agreed a lease with TCIG that had expired in 2009, following non-payment of rent totalling $83,500, which it was unable to pay. TCIG commenced proceedings to wind up the company after the parties were unable to agree settlement terms. The company opposed the liquidation but the Court determined that the company was clearly unable to meet its debts and should be placed into liquidation.
The liquidator will now take steps to liquidate the company's assets in order to pay the Government and any other creditors.
DEMA Announces Conch Quota 2012
Department of Environment and Maritime Affairs (DEMA), Ministry of Environment and Home Affairs on October 15, 2012 announced the opening of the 2012 Conch Season and introduced a quota for the landing and export of conch. Although not yet a signatory to the Convention of International Trade of Endangered Species of Wild Flora and Fauna (CITES), the TCI is required to report all catches and implement a management plan if it intends to continue trading conch. DEMA has been charged with establishing a quota for harvest in accordance with CITES rules.
Director of DEMA Kathleen Wood, said: “TCI has an obligation to report our catch and to establish management plans if we intend to engage with CITES signatory countries such as the US, our primary queen conch export market. The past two conch seasons have resulted in lower-than-anticipated catches. In 2010-2011, the catch was only approximately 25% of previous years’ catch levels at 395,433 pounds. Last season, the situation had only marginally improved with a catch of 500,239 pounds”.
DEMA has therefore taken a precautionary approach to conservation of the Queen Conch stock due to the unavailability of stock studies in the form of a visual survey since 2001. The
Department is currently seeking funding to carry out the annual study which is critical to maintaining the conch fishery. Given the absence of critical data indications are that conch stocks in the TCI are in serious jeopardy.
The Scientific Authority Committee (SAC) and the Fisheries Advisory Committee (FAC) lowered the conch quota for 2012-2013 to 800,000 pounds of landed conch, with 500,000 pounds going to export and 300,000 pounds for local consumption. DEMA estimates that a total quota of 800,000 is equal to the approximate value of conch that was landed last year.
DEMA recognises that this quota will cause some economic strain on fishermen and plant owners, but the measures have been put in place to ensure sustainability and the long-term viability of the industry. The Department is however cognisant of its responsibility to protect the natural resources of TCI including the queen conch fishery.
E. coli O157 illness related to beef
The Department of Public Health, Ministry of Health and Education is advising TC Islanders to be careful in their purchase and consumption of beef and beef products imported from North America, specifically Canada following reports of illnesses due to E. coli O157
Several cases of E. coli O157 have been diagnosed in Canada and have been linked to consumption of beef products from XL Foods Inc, a facility that ships beef and beef products to several countries including the USA.
Public Health Agency of Canada has reportedly been working with its health and food safety partners on an investigation into E. coliO157 illnesses that have been linked to the food safety investigation at XL Foods Inc.
The Public Health Department is advising that products contaminated with E. coli O157 can pose a serious public health risk and cause severe illness. Symptoms include severe stomach cramps, diarrhea and vomiting. Serious complications of an E. coli O157:H7 infection can include kidney failure.
The Public Heath Department is advising anyone who think that they might be sick with an E. coli O157:H7 infection, to a healthcare professional. Young children, the elderly, pregnant women and people with weakened immune systems are most at risk.
The department is reminding residents that proper hygiene, safe food handling and food preparation practices can prevent or minimise the spread of food borne illnesses, including E. coli. Hand washing is one of the best ways to prevent the spread of food borne illness. Thorough cooking will destroy bacteria.
The Ministry would like to remind all, that recalled products, should NEVER be consumed and MUST be thrown away.