Bank Linked to 1MDB Scandal Probed in Singapore, Switzerland
Singapore is ordering Swiss bank BSI, which has been linked to a money-laundering scandal at Malaysia's state fund 1MDB, to shut down its local branch.
The Singapore central bank said it is the first time in 32 years it's withdrawing a license from a merchant bank.
Separately, the Swiss attorney general's office has opened a probe into the bank, saying it "suspects deficiencies in the internal organization" of BSI.
The Monetary Authority of Singapore (MAS) says BSI was guilty of "serious breaches of anti-money laundering requirements, poor management oversight of the bank's operations, and gross misconduct by some of the bank's staff."
MAS said it has asked prosecutors to investigate six senior officials of BSI bank. Two Singaporean BSI executives have already been charged.
Investigations into Malaysia’s state investment company, 1Malaysia Development Berhad (1MDB), allege that more than $4 billion dollars has been misappropriated from development funds. 1MDB came under more suspicion last year when media reports raised allegations that millions of dollars had been deposited into the private bank account of Malaysian Prime Minister Najib Razak.
At Least 12 Dead, 50 Injured in Jade Mining Landslide in Myanmar
A landslide in northern Myanmar's jade mining region Tuesday killed at least 12 people and injured about 50 others, witnesses and officials said.
Volunteer rescuer Naw Li told The Associated Press by telephone that 12 bodies have been recovered “but we don't know how many are buried.” He said 15 of the injured people have been sent to a hospital.
The landslide occurred on a mountain of waste from jade mines in Hpakant region, the epicenter of the money-spinning industry in Kachin state. Massive chunks of the precious stone are mined with heavy machines, but small pieces get left behind in the waste, which is then piled up in huge mountains outside the mines.
Villagers routinely scavenge through these unstable piles of dirt and rocks to look for the small pieces, but often become victims of landslides.
Police officer Tun Tun Lin confirmed the landslide in Waikha village but had no information about casualties. Hpakant is 950 kilometers (600 miles) north of Yangon, Myanmar's biggest city.
US citizen pleads guilty in stock, money-laundering scheme
Federal prosecutors in New York say a Belize resident has pleaded guilty to money laundering conspiracy for helping clients profit off illegal stock trades and then laundering more than $250 million.
US attorney Robert L Capers announced the plea Monday by Robert Bandfield of IPC Corp.
Capers says Bandfield, a US citizen, incorporated more than 5,000 shell companies in Belize and the West Indies for securities and tax fraud schemes.
Money was laundered through pre-paid debit cards
He faces up to 20 years in prison. He's agreed to forfeit US$1 million.
North caicos Recital
In an aim to push arts throughout the schools, one school is creating musical notes that they hope will ride the waves.
The Raymond Gardiner High school is hosting their 1st musical recital to be held on Saturday May 28th.
Music teacher from the school Mr. Benjamin Lewis who also lectures at the other two schools on North Caicos added that students from the High School band will be taking part in the event.
DC for North Caicos, Cynclair Musgrove told RTC News that the students could be heard practising for the event and will be displaying their talents in song, while others will be featured using instruments such as the sax and piano.
The school is conducting this recital in aid of purchasing more instruments for the schools music room.
Lime has successfully merged with Columbus Networks and Cable & Wireless Communications
Lime has successfully merged with Columbus Networks and Cable & Wireless Communications to form C&W Business, the leading business solutions provider in our region.
Manager for the Turks & caicos Branch, Dellarice Hall added that ‘We’ve been recognized and have received numerous awards for our market leading ICT solutions from leading firms such as Gartner, Frost and Sullivan and 451 Research to name a few. We’ve also made significant investments expanding our fabric of data centers, as well as expanding our network portfolio and customer experience organization across the region. Today we are excited to inform you of additional changes to our organization. We have successfully completed the proposed acquisition of our parent company, Cable & Wireless Communications plc. (CWC) by Liberty Global plc.”
Liberty Global is the world’s largest international cable television company, with nearly 27 million customers receiving over 57 million distinct services and generating approximately $18 billion of annual revenues. Liberty Global offers a wide range of advanced broadband Internet, voice, and video services to its customers, including B2B services, as we also do. By joining forces we combine our complementary high growth assets in the Caribbean and Latin America, with the scale and complementary skills of a truly World Class global player, materially improving our ability to offer leading products and services to our customers in the region we serve. To learn more about Liberty Global, please see the attached.
The increased operational, financial, and geographic scale of the proposed combined company will enable C&W to continue to invest in developing and delivering a comprehensive offering of solutions across the full breadth of the information, communications and technology (ICT) and consumer entertainment value chain.
The 1st female director of that company added that with combined resources, we will be able to provide solutions at the device level (smartphone, tablet, desktop and mobile), across networks (mobile and fixed line, local and wide area), as well as through an impressive fabric of data centers; ultimately, powering your applications and safeguarding your data.
We believe that continued investments in technology and people are critical catalysts for economic and social development in the TCI markets in which we operate. We are better positioned to pursue an ambitious innovation agenda in e-health, digital government, and e-learning, as well as be receptive to public-private partnership models added Dellarice Hall.
Star Studded Stop in Dallas for #TeamTCI
TCI General Manager of the Palms Resort, Karen Whitt has ensured that TeamTCI had lots of travel agents to talk to in Dallas earlier today.
The GM assisted in turning on the thrills when she invited the Mayor of Dallas, a Celebrity Chef of Dallas and two members of the Dallas Cowboys football team to be at the reception on stop two of the Premier's Road Show. Dallas Mayor, Mike Rawlings raved of his TCI family vacation, which came after one of the road shows; he said the TCI is top class.
Doug Free an offensive lineman with the Dallas Cowboys as well as Zack Martin an offensive guard with the Dallas Cowboys – both said after the video presentation, that they must come to the Turks and Caicos Islands. Both men also presented Premier Ewing with a signed Dallas Cowboys helmet; which the Premier could not wait to try on.
Dean Fearing the celebrity chef of Dallas promises to also visit the TCI and this is easier explained, the Premier said with increased flights from Dallas to three times weekly to the Providenciales International Airport; dubbed the gateway to paradise by Airports Authority Chairman, Gordon Burton.
When the Tourism Minister, Hon Porsha Smith addressed the agents and potential investors, she continued her message of luxury diving; a few days of it in Provo, a few more days of it in South Caicos with East Bay resort and even more diving with a dash into Grand Turk which appealed to the divers.
Today the contingent heads to Beverly Hills, Los Angeles.
Education Minister promotes Teachers Recruitment
The Deputy Premier and Minister for Education, the Hon AK Missick made an appearance on the popular weekly talk show Expressions to talk about the upcoming Secondary recruitment drive.
TCIG is looking to recruit teachers in special education, social studies/history, Visual arts, Sciences (including Math, Biology, & Physics), English A & B, Technical drawing, Physical Education, Information Technology, Home Economics and Music
As we wine down the school year, the minister gave a brief overview of the academic school year.
The Minister says she is pleased that young Turks & Caicos Islanders are taking up teaching as a profession and that on successful completion of studies she hopes will return to the classrooms here in the TCI.
Hon. Missick spoke about the specialist campaign that is on the way and the islands that will benefit from the wave of teachers.
Concerns from private tertiary institutions have already begun to pour in to ensure that their teachers won’t be approached by the MOE.
The minister added that there is a new curriculum that will be rolled out in short order as they move away from the chalk and talk method that the region has been using for several years. The Minister shares how the plan will be rolled out.
The Deputy Premier also gave Pastor Chad and the listeners a glimpse into a new plan to intergrade tourism into the Primary schools.
Minister of Education the Hon. Akerria Missick appearing on Expressions yesterday on RTC as they promote the secondary teachers recruitment.
The closing date for the deadline for applications is May 30th,2016.
SEVERE WEATHER WARNING FOR THE TCI
THE BAHAMAS METEOROLOGY DEPARTMENT HAS ISSUED A SEVERE WEATHER WARNING FOR THE CENTRAL AND SOUTHEAST BAHAMAS WHICH INCLUDES THE TURKS & CAICOS ISLANDS.
A SEVERE THUNDERSTORM WARNING IS IN EFFECT FOR THE ISLANDS OF CROOKED, ACKLINS ISLAND, MAYAGUANA, SAMANA CAY, INAGUA, THE TURKS AND CAICOS ISLANDS AND THEIR ADJACENT WATERS AND CAYS.
AT 11 AM THIS MORNING, RADAR AND SATELLITE IMAGERY INDICATED CLUSTERS OF STRONG THUNDERSTORMS ASSOCIATED TROPICAL MOISTURE STREAMING ACROSS THE CENTRAL AND SOUTHEASTERN ISLANDS.
SOME OF THESE THUNDERSTORMS WILL BE STRONG TO SEVERE AT TIMES CAUSING STRONG GUSTY WINDS, DANGEROUS LIGHTNING, HEAVY DOWNPOURS, HAIL AND POSSIBLE WATERSPOUT OR TORNADIC ACTIVITY. THERE IS ALSO THE POTENTIAL FOR FLOODING IN FLOOD PRONE AND LOW LYING AREAS SO PRECAUTIONS SHOULD BE TAKEN TO PROTECT PROPERTY.
BOATERS IN THE WARNING AREA SHOULD SEEK SAFE HARBOUR AND RESIDENTS IN THE WARNING AREA SHOULD STAY INDOORS AND AWAY FROM WINDOWS WHEN CONDITIONS WORSEN.
RESIDENTS IN THE TCI OR OUTER ISLANDS SHOULD NOT SEEK SHELTER UNDER TREES OR IN WATER AS THESE CAN BECOME LIGHTENING CONDUCTORS. STAY WITH RTC FOR MORE.
TCIG APPROVES $100,000 FOR DOMINICA
The Turks and Caicos Islands Government, in its 22nd Meeting of Cabinet held on Wednesday September 9th, 2015 in the nation's capital Grand Turk, agreed to a relief fund of US$100,000 to assist with the restoration efforts in Dominica which today remains a state of emergency following the recent passage of TS Erika on August 28, 2015.
The Tropical Storm which dumped some 10 inches of rain in just a few hours in the Caribbean country left in its wake twenty persons dead and many others missing. The Government of Dominica has reported that TS Erika destroyed over 370 dwelling homes, devastated villages and wrought infrastructural damages amounting to some US$228 million dollars.
Premier and Minister of Health, Agriculture and Human Services of the Turks and Caicos Islands, the Hon. Dr. Rufus W. Ewing, following the Cabinet meeting commented, "Dominica has suffered greatly as a result of the passing of TS Erika and countries everywhere, who are in a position to do so should assist where possible to help to meet the needs of the displaced and to assist in restoring their lives to normalcy. I am pleased that we are in a position to assist financially and while the grant is but a dent in the estimated value of damages, we know from the devastation of Hurricane Ike in 2008 that every little bit helps. We will keep Dominica in our prayers."
The $100,000 relief fund will be appropriated from the Turks and Caicos Island Contigency Fund, a reserve source account intended for emergency spend such as this.
TCI gears up for the 1st Delano Williams Foundation 5k and 10K Road Race in Providenciales in October
The Delano Williams Foundation (DWF) in collaboration with Turks and Caicos’ Golden Boy will sponsor the 1st DWF Road Race 5k and 10K scheduled for Providenciales on October 9th at 5:00 P.M. with an Opening Ceremony and the start of the Race from the Children’s Park in the Bight ending at the National Stadium on Venetian Road with a Closing Ceremony and Prize giving.
In Grand Turk on the 10th October, at 5:00 P.M. with an Opening Ceremony and Start of the Race from the Grand Turk Light House ending at the Parade Grounds for the Closing Ceremony and Prize Giving. Delano Williams along with his Team, including his Coach will be on hand for this historic occasion.
THE DWF is calling on all able-bodied Men, Women and children to participate in this Fund Raising Event for the longevity, support and advancement of our Athletes in the Turks and Caicos Islands.
In 2014, our Golden Boy saw the need to establish a Foundation for the sole purpose of supporting our Athletes at the national, regional and International levels. Athletes and Officials alike were outfitted with all NIKE Gear for participation in the CARIFTA Games, the CAC Games the World Championships and the prestigious Commonwealth Games.
This year the DWF took their contribution to another level, in addition to the Uniforms, the DWF added NIKE Travelling Bags, NIKE Running Shoes and NIKE Spikes. Athletes participating in the CARIFTA Games, All Age Championships, CAC Games, World Juniors, Commonwealth youth Games, United Kingdom Youth Games and the recently held World Championships in Beijing had no problems in looking their very best, due to the generous support from the DWF and Delano’s Sponsor NIKE.
In order to maintain their efforts and to ensure that Turks and Caicos Athletes are always looking professional, the DWF will put forth this event that is anticipated to be of the highest quality and a great success so as to maintain the brand and image of our Golden Boy - World 200m Youth Champion and World 400 M Relay Bronze medalist, Delano Williams.