Top athletes missing from camp
The Jamaica Athletics Administrative Association is expecting to have all 47 track and field members on campus at their pre-Olympic training camp in Birmingham today.
The camp is missing some members including Asafa Powell, Brigitte Foster-Hylton, Shelly-Ann Fraser-Pryce, Melaine Walker and Kaliese Spencer.
Team manager Ludlow Watts said the unusually high number of meets this close to the start of the Olympic Games have made it difficult to have everyone in camp at the same time.
The camp is mandatory.
Ingraham bows out of politics
Bahamas' former prime minister Hubert Ingraham, 65, whose Free National Movement (FNM) was defeated in the May 7 general election, said his resignation becomes effective from August 31 this year.
He said one of the reasons for his postponement is to allow his preferred candidate, Greg Gomez, the opportunity to meet the one year constitutional residency requirement in order to be considered as a candidate to run in the North Abaco by-election on the FNM ticket.
“The leader of the party asked me to consider not resigning forthwith...and secondly I belie the Bahamian people ought to have an opportunity to reflect upon a proposed referendum and they want to ensure they are not rushed by the government and it is being said I have some part to play in the events to come.
“Thirdly and this is the most important one, Greg Gomez, who is one of the four people who have applied to the party for nomination, has spent some time in the United States of America and he hasn’t been back home quite a year yet. He has applied and I want him to be considered as a candidate and my postponement will facilitate that,” said Ingraham, who served as prime minister of The Bahamas for 15 years but stepped down as NFM and Opposition leader after he led the party into defeat in the last general election.
The by-election is due to be held in October.
Ingraham told reporters he intends to make a farewell speech in Parliament before his resignation becomes effective. Parliament next meets on July 25.
“It has been a singular privilege and honour to serve in this August House of Assembly of the Commonwealth of The Bahamas,” Ingraham said, adding he also remains a “full and faithful “ member of the FNM.
(CMC)
IMF team in Jamaica today
The country will today welcome another high-level delegation from the International Monetary Fund (IMF) as the Government presses ahead with plans to negotiate a new agreement with the lending agency.
Finance Minister Dr Peter Phillips, in his address to the media on the final day of the People's National Party's (PNP) two-day National Executive Council meeting, said the meeting with the IMF, slated for this morning, would seek to advance discussions ahead of the coming of the larger delegation expected in the island later this year.
"I will have discussions with them in the morning. It is a very short mission, but we will focus particularly on clearing up data issues (and) get them to understand what is happening with our revenue numbers, in preparation for the larger team which will come in November," Phillips said.
The PNP has said it would be seeking a more flexible agreement with the IMF instead of the standby loan agreement which was entered into by the former government and expired in May.
Bajan fishermen held in Trinidad
Two Barbadian fishermen are now in the care of Trinidad and Tobago authorities, after they were arrested and charged for illegal fishing in Tobago waters.
The arrested is currently receiving the attention of the Ministry of Foreign Affairs and Foreign Trade who has been in contact with the Ministry of Foreign Affairs of the Republic of Trinidad and Tobago to resolve the matter.
The Ministry has also been in touch with the Barbadian boat owner and his representatives.
The Trinidad authorities have responded to queries and have promised to provide further information on the matter.
BGIS/DR
Two St.Lucians among 8 held for prostitution at bar in Trinidad
Officers in Trinidad, detained four Colombian women between the ages 18 to 30, two Venezuelans in their late 20s and two St Lucians, also in their late 20s at a popular central pub in Trinidad on Friday.
The illegal immigrants according to reports were allegedly engaged in the act of prostitution.
They were later handed over to Immigration authorities, where they were being quizzed up until late yesterday.
According to reports, at about 11.30 pm on Friday, a party of officers, executed a search warrant at the Chase Village pub and found a group of women believed to be illegal immigrants dancing in a lewd and suggestive manner.
According to reports in the Sunday Newsday edition, when police officers stormed the business place, several of the male patrons told officers that they were having a nice time and the women were making some money.
Officers say they intend to clean-up the Central Division, especially the brothels where prostitution is taking place, and they have also set their target on raiding several drug dens throughout the division.
Dominican Government officials dealt a salary slash
President elect Danilo Medina will have a salary cap of RD$400,000 (around US$10,000) per month, a figure no other Administration official can exceed, including expenses, and other perks.
The announcement was posed Friday morning on the Senate Website, while Congress debates the bill on the Public Administration Salary Regulation.
He Chamber of Deputies however, attributes the information to lawmakers close to the president elect.
"As this ordinary Legislature concludes on the 26th of this month, several lawmakers said the Executive (Branch) will convene a special session of 15 more days for the approval of this and other initiatives that would lose force otherwise," says the Senate document.
CNOOC to buy Nexen in $15bn deal
China's biggest offshore oil producer CNOOC is poised to snap up Canadian rival Nexen in a $15.1bn (£9.7bn) deal.
If approved the deal would mark China's largest foreign business takeover.
State oil firm CNOOC has offered to pay $27.50 cash per share for Nexen, which is 60% higher than Friday's closing share price.
The board of Nexen has already approved the deal, but the takeover still needs to be cleared by the Canadian government.
CNOOC, which already operates a number of joint ventures with Nexen, said the deal would boost its oil reserves by 30%.
The deal marks CNOOC's third Canadian investment. In 2005, it spent 122m Canadian dollars (US$120m; £77m) on a 16.7% share of oil sand developer MEG Energy. And last November, CNOOC bought Canadian oil sands firm Opti Canada for C$2.1bn.
"CNOOC has been seeking overseas acquisitions, as the domestic reserves are limited," said Yan Shi, oil analyst at Chinese brokerage UOB Kay Hian.
However, the Canadian government, which has the right to block any foreign investments over C$330m if it believes they are not in Canada's best interests, could yet veto the deal.
In 2005, CNOOC's attempt to buy US-based Unocal was blocked due to a political backlash.
And in 2010, the Canadian government blocked mining firm BHP Billiton's $39bn attempt to make a hostile takeover of fertiliser firm Potash Corp.
Caribbean Airlines owes 500 million to Jamaican aviation authorities
Caribbean Airlines, CAL, has racked up more than half a billion dollars in unpaid fees to local aviation authorities since its take over of Air Jamaica.
The sum represents fees owed to the Jamaica Civil Aviation Authority, and the Airport Authority of Jamaica.
Transport Minister Dr Omar Davies explains that the debt has been growing for just over a year.
He adds that following yesterday's meeting with representatives of the Trinidadian Government, a plan is being drafted on when and how the debt will be cleared.
Spain bans short-selling of shares as markets fall
Spain has banned short-selling of shares to try to limit price moves after markets fell sharply on fears the country may need a full bailout.
Spain's market regulator blocked the practice for three months to try to restore order after sharp falls in bonds and shares.
"Short-selling" is a way that traders can make money by betting on falling share prices.
Italy has also banned short-selling of financial stocks for one week.
'Extreme volatility'
Short-selling is a technique used by investors who think the price of an asset, such as shares, will fall.
They borrow the asset from another investor and then sell it in the relevant market. The aim is to buy back the asset at a lower price and return it to its owner, making a profit along the way.
In a statement, Spain's CNMV regulator said it was imposing the ban in order to maintain market order: "The situation of extreme volatility across the European markets could interfere with their smooth functioning and the normal course of their activities."
It is not the first time that such a curb has been used by regulators. Almost a year ago, France and Belgium joined Spain and Italy in a ban on short-selling financial stocks to try to stabilise bank shares which had fallen sharply.
Markets have had a turbulent few days on fears that Spain's indebted regional governments will push the country towards a full bailout.
On Friday, Valencia, one of the country's 17 regions, asked the central government for a financial lifeline, and on Sunday, the Murcia region said it was considering following suit.
Shares in Europe fell when trading got underway on Monday, with Spain's main share index down 5% at one point and Germany's Dax down 3%.
The US share markets opened with a downward jolt and the euro hit a new two-year low against the dollar.
'No help'
Spain's economy minister denied the country needed more help.
Luis de Guindos said: "We have made important economic reforms and we just reached an agreement with our regional partners over the recapitalisation of the banks, and from there we have done all what we could to establish the bases of a return to a healthy growth for Spain's economy."
Markets remained unsettled. The yield on Spain's 10-year bonds reached a new euro-era high of 7.56% before falling back to 7.43% in early afternoon trading.
The bond yield indicates the interest rate the government would have to pay to borrow new money, and acts as a measure of investor confidence in Spain's creditworthiness. On Friday, the yield had been 7.28%.
Meanwhile bond yields in countries deemed more creditworthy have fallen. Germany's 10-year borrowing costs have fallen to 1.13%, leaving a record difference between the yield on German and Spanish bonds.
Spain has already asked for and been granted a 100bn-euros bailout for its banks, so far avoiding asking for the same sort of national bailout that was needed by Greece, the Republic of Ireland and Portugal.
However, on Friday the Valencia region said it would be the first region to seek financial help from an 18bn-euro fund set up to help the country's regions.
On Sunday, Murcia's government said: "Regarding the liquidity fund provided by the state, the regional government has repeatedly stated that it is studying whether to apply for it."
There is speculation that other regions are also considering seeking assistance.
There was more bad news for Spain on Monday when the Bank of Spain said the country's economy contracted by 0.4% in the three months to the end of June, having shrunk by 0.3% in the previous quarter.
Eurozone jitters also spread to Italy, which is also struggling with high debts. The main Italian share index fell 4.4% with banks the worst hit. UniCredit and Intesa Sanpaolo were among six Italian banks suspended from trading after their share prices fell sharply.
On the currency markets, the euro fell to a two-year low against the US dollar, at $1.2082, while in Asian trade the euro had fallen to an 11-year low against the Japanese yen, 94.37 yen, its lowest level since November 2000.
The price of oil has also fallen by 2%, a sign that markets think there will be waning demand for oil as a result of worsening economic prospects.
Focus is also returning to Greece's woes. On Tuesday, officials from the so-called "troika" - the International Monetary Fund, the European Commission and the European Central Bank - will arrive in Greece to assess the progress made on reforms that were agreed as part of the country's latest bailout.
Reports over the weekend suggested that the IMF would refuse calls for further aid, if, as expected, the country fails to meet targets for cutting spending and raising taxes.
In response, the IMF said it was "supporting Greece in overcoming its economic difficulties" and would work with the country to get it "back on track".
There are also questions over how the country will make a 3.2bn-euro bond payment due in August.
A European Commission spokesman said on Monday that it was unlikely that the next tranche of eurozone aid for Greece would be paid before September.
"The decision on the next disbursement will only be taken once the ongoing review is completed," the spokesman said.
"Over the last few months, significant delays in programme implementation have occurred due to the double parliamentary elections in the spring.
"The Commission is confident that the decision on the next disbursement will be taken in the near future, although it is unlikely to happen before September," he said.
Rupert Murdoch steps down from boards
Rupert Murdoch has stepped down from a string of company boards of directors just one month after his embattled News Corporation announced plans to separate publishing interests from its lucrative television and film operations.
The Australian-born media mogul made the move last week, according to a spokesman for News International, a British arm of News Corp.
While Murdoch is expected to remain chairman of both companies, he will be CEO of only the television and film side, further distancing himself from the print business that first brought him fame and fortune.
It's not clear who will be CEO of the publishing company, which would be less than one-third the size of its counterpart.
The News International spokesman on Saturday played down Murdoch's boards resignation, calling it "nothing more than a corporate house-cleaning exercise prior to the company split."
News Corp., a Murdoch-controlled media conglomerate, is expected to be divided in the next 12 months. The split comes after some of its U.K.-based newspapers were thrust to the center of a recent phone-hacking scandal.
His British operations have remained under intense scrutiny after revelations of widespread phone hacking, which included celebrities and public officials, by people working for his newspapers.
The controversy prompted News Corp. to shut down its venerable British tabloid, News of the World, last year, and preceded a decision to withdraw a multi-billion-dollar bid to take over British Sky Broadcasting.
The coming split would separate operations like 20th Century Fox film studio, Fox broadcast network and Fox News Channel from the firm's newspapers holdings such as Britain's The Sun, the London Times and the London Sunday Times.
News Corp.'s American media holdings include The Wall Street Journal, the New York Post and Barron's. Its book publishing assets include such companies as HarperCollins.
--CNN