ALERT #3 ON TROPICAL STORM FRANKLIN
Alert #3 on Tropical Storm Franklin was issued by The Bahamas Department of Meteorology, Monday 21st August, 2023 at 3:00 pm EDT.
…NOAA Reconnaissance plane is investigating Franklin…
A Tropical Storm Watch is in effect for the Turks and Caicos Islands.
A Tropical Storm Watch means that Tropical Storm conditions could be experienced within the Turks and Caicos Islands within 48 hours.
At 2 pm EDT, the center of Tropical Storm Franklin was located near latitude 14.5 degrees north and longitude 70.1 degrees west, or about 484 miles South of the Turks and Caicos Islands.
Tropical Storm Franklin is moving toward the west near 4 miles per hour. A slow westward motion is expected through this afternoon. A sharp turn to the north is expected tonight or early Tuesday, and a generally northward motion is expected tonight or early Tuesday. Franklin will generally continue along a northward track later Tuesday. On the forecast track, the center of Franklin will reach the southern coast of Hispaniola by Tuesday night, and pass east of the Turks and Caicos Islands on Wednesday.
Maximum sustained winds are near 50 miles per hour with higher gusts. Some strengthening is forecast before Franklin reaches Hispaniola.
Tropical Storm force winds extend outward up to 60 miles from the center.
Residents in the Turks and Caicos Islands should begin to make preparation for the possibility of Tropical Storm conditions beginning on Wednesday morning.
Land Holdings Companies Transfer Duty Amendment Bill 2023 - 16 August 2023
Hon. Speaker,
Hon. Premier,
Hon. Members of this House of Assembly,
Strangers in the Gallery,
Persons tuning in via radio and streaming media, and
My fellow Turks and Caicos Islanders.
Good day,
Today, I stand in this honorable to table the Land Holdings Companies
Transfer Duty Amendment Bill 2023, which includes pivotal amendments
to the Land Holding Companies (Transfer Duty) Ordinance.
Mr. Speaker, I am happy to say that this Bill stays true to our
Government’s commitment to fiscal prudence, while giving us the ability
to continue to grow our local economy at a pace that maximizes benefits
to our people and our beautiful by nature Turks and Caicos Islands.
Mr. Speaker, for clarity, this Bill seeks to give the Minister of Finance
(through Cabinet) the authority to remit, either wholly or in part, the
duty payable on the transfer of an interest, or transfer of any equity
capital, in a land-holding corporation.
Mr. Speaker, simply put, this Bill will give our government, and future
governments, a strategic lever, that can be used to, when necessary,
dynamically adjust our economic policy to strengthen our ability to
achieve the best outcomes for our people and our beautiful nature
Turks and Caicos Islands.
Mr. Speaker, consider, for example, a situation where a significant
investment opportunity comes to our shores.
Let’s say an international company with a reputation for sustainable and
responsible development wishes to establish a large-scale project that
promises employment for hundreds of our citizens.
Mr. Speaker, if such a development required a transfer of equity capital
in a land holding company, currently, it would not qualify for the (stamp
duty) concessions that are allowable on the property – e.g. land sales.
However, with this Bill Mr. Speaker, TCIG will have the ability to step in,
assess the broader socio-economic benefits, and if deemed prudent,
provide relief on the transfer duty; and in so doing, make our islands a
more attractive investment destination.
Mr. Speaker, for the record, not every transfer of capital in a land holding
company will qualify for remission. However, with this Bill, the Minister
of Finance (in Cabinet) will have the discretion to evaluate and respond
to situations in real time, thereby ensuring that every decision made is
in the best interest of our people and our beautiful nature Turks and
Caicos Islands.
Additionally, Mr. Speaker, this Bill will act as a safety net for unforeseen
economic downturns or global crises.
Mr. Speaker, during challenging times, like the COVID-19 pandemic,
governments need every tool at their disposal to stimulate economic
activity, encourage investments and bolster economic resilience. By
having the ability to remit transfer duties, we are giving our government,
and future governments, a tool that can be used for swift, targeted
responses to economic challenges whenever they arise.
Mr. Speaker, to those people who may have concerns about this Bill, I
would like to state that it is not about previous revenue arbitrarily.
Instead, it is about giving TCIG the flexibility to make strategic fiscal
decisions, to assess the broader socioeconomic implications of each
transaction, and to act in the best interests of our people and our
beautiful by nature Turks and Caicos Islands.
Mr. Speaker, as you are aware, our regional and global competitors often
use such strategic incentives to attract and anchor investments that have
transformative potential. With this Bill, our Government is not just
leveling the playing field, but it is also signaling to the world that our
beautiful by nature Turks and Caicos Islands is open to attracting
responsible, impactful, and transformative businesses.
In conclusion, Mr. Speaker, this Bill is not just about remitting
duties. It is about the bigger picture – i.e. creating a thriving, dynamic,
and resilient Turks and Caicos Islands.
It is about seizing opportunities and navigating challenges with agility.
It is about telling domestic and foreign entrepreneurs that the Turks
and Caicos Islands are the best place for their investments.
Mr. Speaker, in summary:
• Clauses 1 and 2 of the Bill make provision for the short title,
commencement, and interpretation of the Bill.
• Clause 3 of the Bill seeks to amend the Ordinance to insert a new
section 4A to empower the Minister of Finance to remit, wholly
or in part, the duty payable on the transfer of an interest or
transfer of any equity capital in a land-holding corporation.
• The amount of any duty remitted under the new section 4A(1)
in respect of the transfer of an interest or transfer of any equity
capital in a land-holding corporation shall for the purposes of the
Ordinance be deemed to have been paid in respect of that
transfer.
Mr. Speaker, I urge all members of this honorable House to consider
the long-term benefits and the doors of opportunities this Bill will open.
Let us act in unison, with foresight and ambition, to make a decision that
will undoubtedly write a new, prosperous chapter for our people and our
beautiful by nature Turks and Caicos Islands.
With that Mr. Speaker, I now invite this Honourable House to debate the
Land Holdings Companies Transfer Duty Amendment Bill 2023.
Thank you.
Hon. E. Jay Saunders
Minister of Finance, Investment & Trade
Race to evacuate city as blaze approaches
One of the largest cities in Canada's north is being evacuated amid warnings that a wildfire could reach it by the weekend.
The 20,000 residents of Yellowknife, the capital of the Northwest Territories, have been given until noon Friday (18:00 GMT) to leave.
As of Thursday morning, the fire was within 16km (10 miles) of the city.
Another fire is threatening the community of Hay River.
One evacuee told the CBC her car began melting as she and her family drove through embers while fleeing that town.
The Northwest Territories declared a state of emergency late on Tuesday as it battles nearly 240 wildfires.
Mike Westwick, the territory's fire information officer, has said that in the absence of rain, there is a chance the blaze will reach the outskirts of Yellowknife by the weekend.
"We're doing absolutely everything we can first and foremost to slow the growth and prevent that fire from making it to Yellowknife," he told broadcaster CBC early on Thursday.
On Wednesday, Shane Thompson, the region's environment minister, told reporters that the fires had "taken another turn for the worse" and represented a "real threat" to Yellowknife.
"I want to stress that the city is not in immediate danger," he said. "[But] you put yourself and others at risk if you choose to stay."
The premier of the Northwest Territories described the Yellowknife evacuation as "unprecedented".
"I know we are all tired of the word but there's no other way to describe the situation in the Northwest Territories," Caroline Cochrane said on Wednesday.
Some residents of Yellowknife had already begun leaving earlier on Wednesday after parts of the city were put on evacuation alert, meaning they could be asked to leave at a moment's notice.
"Watching the flights sell out and the prices go up I just kind of got to a point where we should leave," Ashley Maclellan, who fled with her baby south to Edmonton, told the CBC.
Hay River Mayor Kandis Jameson pleaded with anyone remaining in the town to leave immediately.
The fire moved 30km in a few hours because of strong winds earlier this week, closing the only two highways out of the town. Then it stalled about 10km away from the town.
The road out of Hay River is "treacherous", the mayor said, and food and petrol supplies are getting low in the community.
Phone and internet services have also been down in the remote region.
Resident Lisa Mundy described how her bumper had begun to melt, her windscreen had cracked and her car had filled with smoke as she and her husband left the town with their two children on Sunday.
"You couldn't see anything - we were driving through embers," she said.
"[My six-year-old son] actually said to me, 'I don't want to die, mommy,' and he kept saying it so many times."
Canada's military has been co-ordinating airlift operations out of several communities in Northwest Territories' South Slave Region that have been threatened by wildfires in recent days.
Airlift operations out of Yellowknife are set to begin on Thursday afternoon, the territory's government said, with five flights scheduled to Calgary, in the neighboring province of Alberta.
The fires have launched the largest airlift evacuation effort in the territory's history.
The communities of Fort Smith, K'atl'odeeche First Nation, Hay River, Enterprise and Jean Marie River are all also under evacuation orders.
Enterprise, home to 120 people, is "90% gone" after a wildfire swept through this week, the community's mayor told the CBC on Tuesday.
Canada is having its worst wildfire season on record, with nearly 1,100 active fires burning across the country as of Wednesday.
Experts have pointed to a warmer and drier spring than normal as the reason.
Scientists say climate change increases the risk of hot, dry weather that is likely to fuel wildfires.
Source- BBC
Dominican Republic mourns victims of San Cristóbal explosion
Today has been declared a day of national mourning in the Dominican Republic out of respect for the people who died in Monday’s fiery explosion in San Cristóbal.
President Luis Abinader said all flags must be flown at half mast in military compounds and public buildings throughout the country.
At least 27 people have been killed as a result of the explosion.
More than 30 people are still in hospital nursing injuries that range from broken bones to severe burns.
Monday’s fire and explosion occurred at a bakery in the city, which lies just west of the capital of Santo Domingo.
Fire officials are still trying to find what caused the deadly explosion.
Source- Caribbean Loop News
Britney Spears's husband Sam Asghari files for divorce and demands financial support
Britney Spears's husband is seeking financial support from the singer while trying to block her from getting any from him after he filed for divorce.
Sam Asghari, 29, and Spears, 41, have been married for just over a year.
In his divorce filing to Los Angeles County Court, Asghari says the pair separated nearly three weeks ago and cites irreconcilable differences as the reason for the split.
The document lists the couple's separation date as 28 July, though reports of the split did not emerge until Wednesday.
It says he will try to get financial support from her - while blocking her from getting any from him.
Asghari is also trying to get the singer to pay for his divorce lawyers, according to the filings.
The filing says the value of Spears and Asghari's assets, and those they own jointly has yet to be determined.
The couple married at a star-studded ceremony at the US star's home in Los Angeles in June 2022.
They originally met on the set of the Slumber Party music video in 2016, and became engaged in September 2021 as her controversial conservatorship - the legal arrangement that controlled her life and finances - looked to be coming to an end.
Spears posted a photo of herself on Instagram riding a horse on the beach on Wednesday after several US outlets reported the relationship was ending.
In her Instagram post, the Toxic singer wrote: "Buying a horse soon! So many options it's kinda hard!
"I can't make up my mind. Should I join the camaraderie and put a pink cowboy hat on?"
Source- Sky News
Firm regrets taking Facebook moderation work
A firm that was contracted to moderate Facebook posts in East Africa has said with hindsight it should not have taken on the job.
Former Kenya-based employees of Sama - an outsourcing company - have said they were traumatized by exposure to graphic posts.
Some are now taking legal cases against the firm through the Kenyan courts.
Chief executive Wendy Gonzalez said Sama would no longer take work involving moderating harmful content.
Warning - this article contains distressing content
Some former employees have described being traumatized after viewing videos of beheadings, suicide, and other graphic material at the moderation hub, which the firm ran from 2019.
Former moderator Daniel Motaung previously told the BBC the first graphic video he saw was "a live video of someone being beheaded".
Mr Motaung is suing Sama and Facebook's owner Meta. Meta says it requires all companies it works with to provide round-the-clock support. Sama says certified wellness counselors were always on hand.
Ms. Gonzalez told the BBC that the work - which never represented more than 4% of the firm's business - was a contract she would not take again. Sama announced it would end it in January.
"You ask the question: 'Do I regret it?' Well, I would probably put it this way. If I knew what I know now, which included all of the opportunity, the energy it would take away from the core business I would have not entered [the agreement]."
She said there were "lessons learned" and the firm now had a policy not to take on work that included moderating harmful content. The company would also not do artificial intelligence (AI) work "that supports weapons of mass destruction or police surveillance".
Citing continuing litigation, Ms. Gonzalez declined to answer if she believed the claims of employees who said they had been harmed by viewing graphic material. Asked if she believed moderation work could be harmful in general, she said it was "a new area that absolutely needs study and resources".
Source- BBC
Zuckerberg says Musk 'not serious' about cage fight
Elon Musk "isn't serious" about holding a cage fight and "it's time to move on", Mark Zuckerberg has said.
In a post on his social media site Threads, the Meta boss said he had offered Mr Musk "a real date" but the rival entrepreneur had made excuses.
Mr. Musk had earlier on Sunday suggested on his own messaging site X, formerly known as Twitter, that he was willing to fight as early as Monday.
The billionaires agreed to the bout in June, sparking huge media attention.
But despite egging each other on for months, the rivals have yet to secure a date, raising doubts the fight will ever go ahead.
The war of words was complicated by the launch of Threads in July, with the rival messaging app to X attracting more than 100 million sign-ups in less than a week.
That number has fallen back, and X remains comfortably ahead with around 350 million users - but Mr. Musk has threatened to sue Facebook for "unlawful misappropriation of Twitter's trade secrets".
Meta denies the claims.
Last week, Mr. Zuckerberg said he had proposed 26 August for the cage fight. Then in a twist on Friday, Italy's culture minister said that he had spoken to Mr. Musk about hosting the showdown in the country as a charity event.
Mr. Musk suggested it would have "an ancient Rome theme".
On Sunday, however, the Meta boss posted on Threads: "Elon won't confirm a date, then says he needs surgery, and now asks to do a practice round in my backyard instead.
"If Elon ever gets serious about a real date and official event, he knows how to reach me. Otherwise, time to move on. I'm going to focus on competing with people who take the sport seriously."
Responding to X, however, Mr. Musk called the Meta boss a "chicken".
Earlier, Mr. Musk had posted a text message exchange on the messaging platform purportedly between himself and Mr. Zuckerberg.
In it, he tells the Meta boss that he will be in Palo Alto, home to Meta's headquarters, on Monday and that the fight could be held in Mr. Zuckerberg's Octagon, which is the eight-sided ring in which cage fights are held.
Mr. Musk continued: "I have not been practicing much, apart from a brief bout with Lex Fridman [the computer scientist and podcast host] today.
"While I think it is very unlikely, l given our size difference, perhaps you are a modern-day Bruce Lee and will somehow win."
Elon Musk, 52, and Mark Zuckerberg, 39 are two of the world's most high-profile technology billionaires.
The bizarre idea to fight each other started in June when Mr. Musk tweeted that he was "up for a cage fight" with Mr. Zuckerberg.
The Meta boss, who already has mixed martial arts (MMA) training and has recently won jiu-jitsu tournaments, simply responded with "Send me the location".
Source- BBC
Hozier would consider strike over AI threat to music
Irish musician Hozier has said he would consider striking over the threat artificial intelligence (AI) poses to his industry.
Hollywood actors and writers are currently striking over a row about better contracts and protection from the use of AI.
Hozier told the BBC's Newsnight he would be willing to join similar strike action in the music industry.
The singer added he was not sure if AI "meets the definition of art".
In July, Hollywood writers and actors manned picket lines for the first time in decades. Among their concerns was a proposal by the Alliance of Motion Picture and Television Producers to keep "digital replicas" of actors.
But musicians are yet to follow suit regarding the threat AI poses to their own industry. The technology could be used to write songs or mimic well-known artists.
In April, a song that used AI to clone the voices of Drake and The Weeknd was removed from streaming services following criticism that it violated copyright law.
Asked if he could imagine going on strike over the threat AI poses to music, Hozier, whose real name is Andrew John Hozier-Byrne, said: "Joining in solidarity if there was… action on that? Absolutely."
"Whether [AI is] art or not, I think, is nearly a philosophical debate," the Grammy-nominated singer, well known for his song Take Me to Church, told presenter Victoria Derbyshire.
"It can't create something based on a human experience. So I don't know if it meets the definition of art."
Last week, the Financial Times reported that Google and Universal Music are in talks to license artists' melodies and voices for songs generated by AI.
During his interview, Hozier also discussed the death of fellow Irish singer-songwriter Sinéad O'Connor.
The singer reflected that he was "walking on this road that she paved", after she ripped up a picture of the Pope on US TV in 1992, in protest against child sexual abuse in the Catholic Church.
Her actions initially drew widespread condemnation.
Three decades later, Hozier's debut single Take Me to Church, which he said criticized the church's teaching of "shame about sexual orientation", reached number one in 12 countries and remains the 30th most streamed song of all time.
"I think sensibilities have changed," Hozier said of the difference in reaction. "I think part of it is because Sinead was a woman. I think a lot of it is she was one of the first who had the courage to stand up and say it.
"That was such a taboo at the time."
Hozier suggested the "mission statement" of his debut single is "more applicable now than it was 10 years ago".
"I'm not delighted about this, but I think in some ways it is more applicable… We didn't have LGBTQ+ free zones in the European Union 10 years ago," he said.
"We didn't have armed militia waiting outside of, you know, gay and queer spaces and with this sort of terrible threat hanging over that."
When asked if he would ever perform in Russia, Saudi Arabia, or other states that repress minorities, the artist described the issue as "a tricky one".
"Do we not repress minorities here? Or in America?" he asked, as he revealed he had turned down an invite to an event that was sponsored by the Russian state.
"I was invited to perform once in the Vatican City, which was interesting… They invited me to sing Take Me to Church, I believe, at one point."
"And you said no?" Derbyshire asked. "Oh yeah. That would've been fun," Hozier quipped.
The musician spoke to Newsnight in his only UK broadcast interview ahead of the launch of his new album Unreal Unearth.
The album, which is partly inspired by the Italian poet Dante's Inferno, and his experience of the pandemic, is released on 18 August.
Source- BBC
Vietnam EV maker valued at more than Ford or GM
Vietnamese electric vehicle (EV) maker VinFast's stock market valuation has soared above Ford and General Motors (GM) on its first day of trading.
Shares in the firm, which has yet to make a profit, closed above $37 (£29) each in their New York debut.
That gave VinFast a stock market valuation of $85bn, much higher than Ford's $48bn and GM's $46bn.
It comes as motor industry giants and newer manufacturers fight for a slice of the booming EV market.
The listing added around $39bn to the wealth of VinFast's chairman and founder Pham Nhat Vuong, who was already Vietnam's richest man.
Regulatory filings show he controls 99% of the firm's outstanding shares, mostly through Vietnam's largest conglomerate, Vingroup JSC.
That limits the number of shares available for other investors to trade, which can lead to large price swings.
Trading in VinFast was relatively thin on Tuesday, with around $185m worth of its shares changing hands.
"Investors are continuing to believe that the future is in electric and that a low-cost East Asian country will emerge as a competitor in the US," said Bill Russo, Founder and CEO of Shanghai-based Automobility.
"The markets believe that given geopolitics that Vietnam, not China, will be that country."
Instead of a conventional share sale, VinFast went public using a shell company, or special purpose acquisition company (Spac).
Spacs are often used by start-ups to speed up the often slow and expensive process of taking a private company public. In simple terms, it means merging a company that is not on a stock exchange with one that is.
Several EV makers - including Lordstown Motors and Faraday Future - have gone public using Spacs in the last three years.
However, both firms have lost more than 90% of their stock market value since their mergers.
Mr. Russo said VinFast could be different because "they are primarily backed by Vingroup, which gives them access to funding from a business that has a proven track record of growth".
"Most EV start-ups fail because they do not have profitable core and external funding eventually runs out as they burn capital far faster than they generate cash," he said.
But VinFast also faces tough competition as major players fight for market domination.
Market leaders - including Elon Musk's Tesla and BYD, which is backed by veteran investor Warren Buffett - have been cutting prices to boost sales.
In the first half of the year, VinFast delivered 11,300 EVs, according to a company presentation. By comparison, Tesla delivered more than 889,000 vehicles in the same period.
"Tesla will continue to be the clear leader in EVs but there will be many winners," said Dan Ives of Wedbush Securities.
"VinFast has built a strong foundation for EV success."
Source- BBC
NOAA increases Atlantic hurricane season prediction to ‘above normal'
The National Oceanic and Atmospheric Administration (NOAA) has increased its prediction for the ongoing 2023 Atlantic hurricane season from a near-normal level of activity to an above-normal level of activity.
An update was issued two days ago.
Forecasters believe that current ocean and atmospheric conditions, such as record-warm Atlantic Sea surface temperatures, are likely to counterbalance the usually limiting atmospheric conditions associated with the ongoing El Nino event.
NOAA forecasters have increased the likelihood of an above-normal Atlantic hurricane season to 60 percent (increased from the outlook issued in May, which predicted a 30 percent chance).
The likelihood of near-normal activity has decreased to 25 percent, down from the 40 percent chances outlined in May's outlook.
This new update gives the Atlantic a 15 percent chance of seeing a below-normal season.
NOAA’s update to the 2023 outlook — which covers the entire six-month hurricane season that ends on November 30 — calls for 14 to 21 named storms (winds of 39 mph or greater), of which 6 to 11 could become hurricanes (winds of 74 mph or greater).
Of those, 2 to 5 could become major hurricanes (winds of 111 mph or greater). NOAA provides these ranges with 70 percent confidence. These updated ranges include storms that have already formed this season.
The Atlantic basin experienced an active start to the hurricane season with five storms that have reached at least tropical storm strength, including one hurricane already.
An average hurricane season produces 14 named storms, of which seven become hurricanes, including three major hurricanes.
Matthew Rosencrans, lead hurricane season forecaster with NOAA’s Climate Prediction Centre stated: “The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures.”
He added: “Considering those factors, the updated outlook calls for more activity, so we urge everyone to prepare now for the continuing season.”
Source- Loop News