iNews Briefs, More & Community Events
Community Events
Grand Court Jurors Report Date Changed
The Grand Court jury report date has been changed.
Grand Court Jurors who are in the 1 April – 30 June 2015 session are now to report on Monday, 29 June 2015 at 9:45 a.m.
Please call the Jury Information line at 945-5072 for the most up-to-date information.
Ministry of Education, Employment and Gender Affairs will be hosting public meetings in every district, including Cayman Brac, to discuss the Education Bill, 2015 and gain the public’s feedback on the proposed changes.
The meetings will be as follows:
East End: Tuesday 30th June, 2015, East End Primary School Hall from 7:30pm – 9:00pm
Bodden Town: Wednesday 1st July, 2015, Savannah Primary School Hall from 7:30pm – 9:00pm
All residents of the Cayman Islands are invited to attend the meetings.
Members of the public can also obtain and review the Education Bill, 2015 and complete the online survey on the Ministry of Education’s website: www.education.gov.ky
MON JUNE 29
Department of Agriculture’s Administrative and Agriculture Sales Sections Closure
The Department of Agriculture’s Administrative and Agriculture Sales Sections will be closed on Monday 29th June and Tuesday 30th June
TUE JUNE 30
Humane Society’s Book Loft Specials
The Cayman Islands Humane Society’s Book Loft is hosting a summer special with 50 percent off on all historical fiction and general fiction as well as sci-fi and fantasy books.
School Health Screenings
Public Health Department staff are conducting free, mandatory screenings for all students entering government and private schools in the Cayman Islands for the first time in the new school year. For more information, call 244-2734
Department of Agriculture Closure
WED JULY 1
CARE Quiz Night
Why not get a team together and join us for the first Wednesday of every month for Quiz night at PD’s! 7:00PM Wed July 1
If you are unable to make it but would like to help spread the word about our Quiz, please download the flyer attached to share on your office notice board.
Education Bill 2015 Public Meetings Savannah
Education Bill 2015 Public Meetings head to Savannah Primary School Hall in Bodden Town on Wednesday (1 Jul) at 730pm.
Botanic Park Summer Special
Now thru August, every weekend residents will be able to visit the Botanic Park for only $5.
Trade union leader discloses layoffs coming as a result of LIME-Flow merger
From CARIBBEAN360
BRIDGETOWN, Barbados, Friday June 26, 2015 – The merger of telecommunications companies LIME and rival Flow will soon claim the first causalities – staff.
The general secretary of the Barbados Workers’ Union (BUW) Toni Moore made the disclosure to the media yesterday, but indicated it as too early to say how many people would be sent home.
She acknowledged, though, that with the purchase of Columbus International – Flow’s parent company – by Cable and Wireless which operates in the region as LIME, layoffs were expected.
“Up to this point, there has been no formal indication as to the extent of those impacts, but what the company has said is that in those areas where it recognizes that it may need to shed labour that every attempt would be made to engage the Barbados Workers’ Union to make sure that the process in exiting workers is being upheld, and that every effort will be made as well to ensure that, to maintain the company’s competitiveness, the best persons will be kept back,” Moore said at a media conference.
Under the March 31, 2015 deal worth just over $3 billion, LIME has decided to drop its name in its Caribbean operations and go with the Flow brand.
In addition to Flow becoming the face of LIME’s Caribbean operations, CWC will operate under the corporate banner C&W Communications; C&W Networks will be the brand representing the wholesale submarine and terrestrial fibre optic cables of C&W Communications and the former Columbus Networks/JVCO business; and C&W Business will be the business-facing brand across the whole group, replacing the former CWC Business Solutions, Columbus Business Solutions and Sonitel brands.
IMAGE: GENERAL SECRETARY OF THE BARBADOS WORKERS’ UNION (BUW) TONI MOORE
For more: http://www.caribbean360.com/business/layoffs-coming-as-a-result-of-lime-flow-merger#ixzz3eIqy6cF1
Caribbean telecom services provider Digicel files for U.S. IPO
From Reuters
Digicel Group Ltd, which offers communications services in the Caribbean and South Pacific regions, filed with U.S. regulators on Friday to raise up to $200 million in an initial public offering of Class A common stock.
J.P. Morgan, UBS Investment Bank and Citigroup were among the underwriters for the IPO, the company told the U.S Securities and Exchange Commission in a preliminary prospectus. (1.usa.gov/1NiKE0m)
Digicel said it currently provides mobile communications services to 13.6 million subscribers in 31 markets.
The filing did not reveal how many shares the company planned to sell or their expected price.
The company intends to list its Class A common stock on the New York Stock Exchange under the symbol “DCEL”.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting By Sudarshan Varadhan; Editing by Sriraj Kalluvila)
For more: http://www.reuters.com/article/2015/06/26/digicel-ipo-idUSL3N0ZC42020150626
Revisions to Cayman Islands Land Holding Companies Share Transfer Tax Law not implemented
In the Legislative Assembly last week MLA’s voted to approve changes to the Land Holding Companies Share Transfer Tax Law (2007 Revision). However, Finance Minister Marco Archer, informed the Members the rates should have been changed in the Land Holding Companies Share Transfer Tax Law in the same way the Stamp Duty Law was changed for individual property purchasers. This meant corporations holding land within higher value tourism areas would have had to pay 7.5 percent share transfer taxes. Duties on transfers were charged at a 4 percent rate for Caymanians and 6 percent for non-Caymanians. This did not happen.
How much government has lost through the oversight was not revealed.
Belize PM comments on EU Blacklisting Belize’s offshore sector
Last week Belize was blacklisted by the European Union, along with thirty other countries who claimed that Belize is a tax haven for companies which are seeking to avoid paying taxes. Dean Barrow, Belize Prime Minister, in response commented:
“The international community is determined and has been determined for a while to close down our offshore sector. This is just a continuation of the kind of actions they have been taking over a period of time now. Stretching back to try to achieve their objective; what I saw, somebody made the point that their own offshore jurisdiction I love they said nothing about them so that is what is involved there. I have no doubt that sooner or later they will succeed. This is the empire striking back but I think our offshore people have been preparing themselves for a while now because it has been like I said a constant onslaught. I am sorry to say that I wouldn’t be surprised that if in the end they don’t achieve their objective.”
Cayman Islands Opposition Leader files response to Premier’s lawsuit
Cayman Islands Opposition Leader, McKeeva Bush, has filed a defence in the Grand Court to the Premier Alden McLaughlin’s defamation lawsuit against him. The lawsuit was filed by McLaughlin after Bush refused to apologise to him after accusing McLaughlin of being directly involved in, according to Bush, his unlawful removal from the leadership. Bush made his claim in a parliamentary motion and at a press briefing.
Bush also claimed it was a British led conspiracy that included former governor Duncan Taylor, the police commissioner and the auditor general.
Pope: Forgive Catholic persecution of evangelical Christians
From Times of India
Francis made the appeal during the first-ever visit by a pope to a Waldensian house of worship, starting the second day of his two-day visit to Turin with a strong ecumenical message of Chrisitan inclusiveness and fraternity.
TURIN (Italy): Pope Francis asked forgiveness today for the Catholic Church’s persecution of members of a small evangelical church in Italy whose leader was excommunicated and followers branded as heretics during the Middle Ages.
Francis made the appeal during the first-ever visit by a pope to a Waldensian house of worship, starting the second day of his two-day visit to Turin with a strong ecumenical message of Christian inclusiveness and fraternity.
The Waldensian church was founded in the 12th century by Peter Waldo, a wealthy merchant from Lyon, France, who gave up his belongings to preach a Gospel of simplicity and poverty that condemned papal excesses. He was excommunicated and his followers persecuted as heretics by Rome.
The Waldensians today are united with the Methodist Church and claim 45,000 followers, mostly in Italy, Argentina and Uruguay.
During a speech to a few hundred people in the Waldensian temple of Turin, Francis decried how Christians over history committed atrocious acts of violence in the name of faith.
“On the part of the Catholic Church, I ask your forgiveness, I ask it for the non-Christian and even inhuman attitudes and behavior that we have showed you,” Francis said somberly from the altar. “In the name of the Lord Jesus Christ, forgive us!”
His speech, greeted with warm applause, was reminiscent albeit on a smaller scale of the appeals for forgiveness made by St John Paul II during the 2000 Jubilee. In several events that year, John Paul asked pardons for the Crusades and Catholic wrongs committed against Jews and others.
Francis, an Argentine Jesuit, has continued his strong friendships with leaders of Protestant and evangelical churches that he developed as the archbishop of Buenos Aires.
Later, Francis was to have lunch with and celebrate Mass for members of his extended family, who hail from Italy’s Piedmont region.
Sarah Palin ends run as Fox News Political contributor
From Newsmax
Fox News has ended its relationship with former Alaska Governor Sarah Palin as a political contributor.
A Fox News Channel representative on Wednesday confirmed a report on Politico.com that said the cable network had not renewed its contract with the 2008 U.S. Republican vice presidential candidate. The relationship ended June 1, Politico said.
Palin, whose conservative stands have made her a favorite of the Tea Party movement, is expected to make occasional guest appearances on Fox News Channel or its sister outlet, Fox Business Network, Politico reported.
Palin, 51, had been a regular contributor and political commentator on Fox News for the past five years, often appearing through a camera installed in her Alaska home.
She currently is the host of “Amazing America,” a show on the Sportsman Channel focusing on veterans and outdoors life, and heads SarahPAC, her political action committee, which donates to conservative candidates.
Palin was governor of Alaska in 2008 when John McCain chose her to be his running mate and the first woman on a Republican presidential ticket.
She later stepped down as governor before her term was due to end and became the focus of a 2010 reality show “Sarah Palin’s Alaska” about her family on cable channel TLC.
Fox News Channel is owned by 21st Century Fox.
Cayman Islands former pilot and hotel owner receives CITA Lifetime Achievement Award
Caymanian Kel Thompson was recognised for three decades of service to the Cayman Islands’ tourism industry when he was named the winner of the Cayman Islands Tourism Association’s (CITA) Lifetime Achievement Award. The award was made at the CITA’s annual Stingray Awards gala last Tuesday (23).
Thompson was one of Cayman Airways’ youngest ever captains, founder of Century 21 Real Estate firm in the Cayman Islands and owner of the Reef Resort, now rebranded as Wyndham, at East End.
Stanford Ponzi suit continues for Chadbourne and Proskauer
By Anita Abedian, From The Litigation Daily
A Texas federal judge has allowed lawsuits to continue against Proskauer Rose, Chadbourne & Parke, and a former lawyer at the two firms over the roles they played representing convicted Ponzi scheme promoter R. Allen Stanford.
On Tuesday, Dallas U.S. District Judge David Godbey declined to dismiss most of the claims against the defendants brought by Ralph Janvey, a court-appointed receiver for Stanford investors, along with claims brought directly by investors who were sold $7 billion in fraudulent certificates of deposit. The surviving claims against the firms and Sjoblom include malpractice, negligence, and civil conspiracy.
The Texas financier was convicted in 2012 and sentenced to a 110-year-prison term. Last year the U.S. Supreme Court cleared the way for this lawsuit by ruling that these claims weren’t barred by the Securities Litigation Uniform Standards Act of 1998.
Janvey’s lawsuit alleges that Sjoblom, a former attorney with Chadbourne who moved to Proskauer, assisted Stanford’s scheme by making misrepresentations to the U.S. Securities and Exchange Commission about Stanford’s misconduct and hiding the SEC investigation from Stanford’s auditor. (Sjoblom now has his own practice.)
Godbey held that the plaintiffs had sufficiently alleged that Sjoblom and the law firms were aware of wrongdoing by Stanford. According to plaintiffs, Sjoblom knew that Stanford was offering unrealistic rates of return on his CD products and knew that Stanford had ties to Antiguan banking regulators.
The judge did, however, dismiss claims of aiding and abetting fraudulent transfers under Texas law, because the defendants didn’t receive any of those transfers.
Cayman Islands U-23 footballers lose first two games
Cayman’s National Under-23 football team is in Haiti for the 2015 CONCACAF men’s Olympic qualification championships. On Wednesday, Cayman lost its opener against St. Kitts and Nevis 6-0 and its second game on Friday 4-0.
Accident: Avianca A332 over Caribbean Sea on Jun 27th 2015, turbulence injures 7
From The Aviation Herald
An Avianca Airbus A330-200, registration N973AV performing flight AV-18 (dep Jun 26th) from Bogota (Colombia) to Barcelona,SP (Spain) with 247 passengers and 12 crew, was enroute at FL390 over the Caribbean Sea about 400nm eastnortheast of Curacao (Curacao) and about 100nm southwest of Guadeloupe (Guadeloupe) at about 04:30Z when the crew descended the aircraft to FL360 reporting turbulence caused injuries to seven occupants. The crew decided to turn around and divert to Curacao where the aircraft landed safely about 80 minutes later. The seven injured were taken to a hospital.
The airline reported the aircraft encountered turbulence of 4 seconds in Venezuelean airspace and confirmed 7 occupants were taken to a hospital, 6 could already be discharged, one flight attendant remained in hospital for observation following a hard hit with her head.
A replacement Airbus A330-200 registration N974AV positioned to Curacao as flight AV9982 and departed to continue flight AV-18 about 13.5 hours after landing.
Infrared Satellite Image GOES-E Jun 27th 2015 05:45Z (Graphics: NASA):
For more: http://avherald.com/h?article=48878326
Cayman Islands karate academy prepares students for international competition
Bob Daigle, head instructor of Cayman Karate Academy on Grand Cayman prepares his students for international competition by inviting martial artists from any martial arts style from around the world to come and share their fighting techniques.
Daigle said: “What I look for in a guest instructor is character first and skill second. Team Paul Mitchell has assembled the best martial artists on the planet and every one of them are role models for our youth.”
Cass Sigmon, who has been world champion 10 times and who is a member of Team Paul Mitchell, recently shared his fighting techniques with more 60 students at the Academy.
“I was amazed at the hand speed of Cass Sigmon,” Daigle said. “I have fought some of the best fighters our sport has ever seen and I have never seen a front hand as fast as Cass Sigmon. Having fought seven-time world champion Billy Blanks and numerous other legends, I can honestly say that there has been significant improvement from 20th century fighters to 21st century fighters. We can’t wait to test these new training methods in actual competition.”
Daigle is a former world champion.
‘Dukes of Hazzard’ General Lee Toys nixed amid Confederate Flag backlash
From Newsmax
Warner Bros.’ consumer products division has decided to cease licensing replicas of “Dukes of Hazzard” character General Lee’s vehicle with a Confederate flag on the roof, as efforts to remove the flag from statehouse grounds and other public spaces gains momentum in the wake of last week’s shootings in Charleston, S.C.
“Warner Bros. Consumer Products has one licensee producing die-cast replicas and vehicle model kits featuring the General Lee with the confederate flag on its roof — as it was seen in the TV series,” a spokesman for the studio said. “We have elected to cease the licensing of these product categories.”
“Dukes of Hazzard,” which ran from 1979-85 and was adapted into a 2005 feature film, was part of an era of Southern chic, including movies like “Smokey and the Bandit” and Southern classic rock. “Dukes” featured “two good ole boys” who perpetually eluded sheriff’s deputies in their ’69 Dodge Charger, with the confederate emblem painted on top.
Retailers like Amazon, Sears, eBay and Wal-mart announced on Tuesday that they would no longer sell products featuring images of the Confederate flag.
Although the Confederate imagery was part of “Dukes of Hazzard,” and was used in merchandising and other imagery by the ’70s band Lynyrd Skynyrd, politicians and businesses have called for its removal as it has been used as a symbol of white supremacy.
While the flag may have been a pop culture symbol of Southern rebellion and heritage back in the ’70s, in the past generation it increasingly is viewed differently, a reminder of slavery. Even in the “Dukes of Hazzard” feature in 2005, the Duke brothers get some blowback for driving in a vehicle featuring it.
On CNN on Tuesday, former Rep. Ben Jones (D-Ga.), who played Cooter on “Dukes of Hazzard,” said the show “featured a Confederate battle flag in a very positive context, in a place where there was no racism.”
“I know the world’s not like that, but you must understand that that flag has been seen and is now seen also in positive contexts,” he said. “It’s been used by racists, by horrible people such as this man who killed those people in Charleston. A terrible thing. I’m sure he’s also used the American flag.”
For more: http://www.newsmax.com/Headline/dukes-of-hazzard-cancels/2015/06/24/id/652078/#ixzz3eAp4JaZ5
Yorkey Optical Cayman : sees significant decline in 1H results
[ET Net News Agency, 23 June 2015] Yorkey Optical (02788) said it expects the
consolidated interim results of the Group for the six months ending 30 June 2015 to show a significant decline as compared to those for the corresponding period in 2014.
Such expected decline of the interim results was primarily attributable to the decrease in operating revenue, the increase in operating expenses, and the share of loss of an associate.
Its interim results announcement is expected to be released in August. (HL)
Schemes: Recognition or parallel schemes of arrangement
By Ian Mann, Jennifer Maughan, Chai Ridgers | Harney Westwood & Riegels
In response to the turbulent economic times seen of late, there has been a significant growth in the use of schemes of arrangement to compromise creditors’ claims where the company in question is facing financial difficulty.
This article discusses the circumstances in which an offshore debtor, whose debts are for example governed by the laws of Hong Kong SAR, may consider to implement a parallel scheme of arrangement in its jurisdiction of incorporation and in the jurisdiction concerning its debt obligations, as an alternative to commencing recognition proceedings in Hong Kong to sanction a “foreign” scheme of arrangement. Offshore debtor with Hong Kong law governed debt obligations:
Why Is Hong Kong law relevant?
Both the BVI and the Cayman Islands have statutory regimes for the implementation of schemes of arrangement, the detailed procedures of which are similar to many common law jurisdictions but are beyond the scope of this article. The efficacy of a scheme of arrangement for an offshore debtor that is subject to debt obligation governed by the laws of Hong Kong SAR and no doubt operations and assets worldwide, will however depend upon the recognition (or not) of the proposed scheme in jurisdictions where creditors may bring claims against the debtor.
Please see full alert below for more information from JDSUPRA website:
SOURCE: http://www.jdsupra.com/legalnews/schemes-recognition-or-parallel-schemes-50901/
Supreme Court urged to allow broadcast of historic opinion announcements
By Tony Mauro, From Legal Times
Sixteen members of Congress, including Senate Judiciary Committee chairman Chuck Grassley, R-Iowa, asked the U.S. Supreme Court on Tuesday to allow live broadcast of the historic opinion announcements expected in coming days.
By next week, the court is expected to hand down landmark rulings on same-sex marriage, the Affordable Care Act, capital punishment and housing discrimination. By long tradition, the justices who author the majority opinions read summaries of their rulings from the bench. On occasion, dissenting justices also read from their writings.
Though the transcripts of oral arguments are released on the day they occur, and the audio of arguments is made public later in the week, neither is the case for opinion announcements. They become available to the public only after the tapes are turned over to the National Archives months after the court’s term is over.
“Over the course of the next few days, the Supreme Court will announce opinions in closely watched cases that will impact the lives of millions of individuals and families across America, decisions that will change the course of American history,” Rep. Mike Quigley, D-Illinois, said in a statement released along with the letter. “Allowing live audio coverage will give more Americans the ability to closely follow the proceedings as they occur.” Quigley is co-chairman of the House Transparency Caucus.
Sen. Dick Durbin, D-Illinois, who took the lead in sending the letter along with Quigley, said in a statement:
“People of reasonable minds may disagree on the proper outcome of these cases and others, but we can all agree that the American public deserves greater access to the opinions that will shape their society for years to come.”
UK broadcaster ITV grows content with $86.5M Twofour Buy
From Law360
U.K. broadcaster ITV PLC said Wednesday that it will drop £55 million ($86.5 million) for a majority stake in private equity-held Twofour Group, the production company behind shows such as “Educating Yorkshire” and “The Jump,” as ITV continues a buying spree to bolster its content offerings.
New Commonwealth report on child marriage is launched
From The Commonwealth
At current prevalence, 43 per cent of women across the Commonwealth are married before they reach 18 years old, with around 8.8 million girls being married each year, according to a new report by the Royal Commonwealth Society and Plan UK. This is despite the fact that child marriage is recognised internationally as a human rights violation.
The study on Preventing Child Marriage in the Commonwealth: the Role of Education was launched on Wednesday at the 19th Conference of Commonwealth Education Ministers in The Bahamas.
“Ending child marriage is a crucial step towards achieving girls’ rights across the Commonwealth: child marriage is a violation of human rights, undermines women and girls’ equality and empowerment, perpetuates and reinforces negative social norms and curtails girls’ opportunities. Child marriage continues to be a barrier to girls’ rights in the Commonwealth, and prevalence is higher here than the global average,” the report states.
“Education has proven to have a strong correlation with lower rates of child marriage, and for this reason the Commonwealth must prioritise achieving inclusive, quality education for all girls and boys.”
The prevention and elimination of child, early and forced marriage is a priority area for action in the Commonwealth, with the Commonwealth Secretariat mandated to work towards ending the practice.
In May 2015, Commonwealth National Human Rights Institutions agreed a new Declaration to prevent and end child marriage.The Kigali Declaration contains a number of key commitments, which includes the monitoring of the enforcement of legislation; improving data collection and promoting compulsory education for girls.
IMAGE: The Bahamas Minister for Education, Science and Technology, Jerome Fitzgerald and Secretary-General Kamalesh Sharma with Firhaana Bulbulia, member of the Commonwealth Youth Gender and Equality Network and Toko and Mervis, Plan UK Youth Representatives, Malawi Youth
South Korean business groups have 237 firms in tax havens
From the Korea Times
Samsung is one of many South Korean businesses that have multiple tax havens from Hong Kong to the Cayman Islands.(AP Photo/Ahn Young-joon)
SEOUL, June 25 (Yonhap) — More than half of big business groups in South Korea have set up companies in overseas tax havens, with SK Group, the nation’s third-largest conglomerate, having the most, data showed Thursday.
Out of 61 business groups with combined assets of more than 5 trillion won (US$4.5 billion), 33 owned a combined 237 subsidiaries in countries on the European Union’s tax haven blacklist as of end-2014, according to the data compiled by corporate tracker Chaebul.com.
The figure accounts for 7.5 percent of the total number of overseas firms set up by the groups.
The EU list of 30 territories includes Hong Kong and a series of Caribbean havens, including the Cayman Islands and British Virgin Islands, which impose no corporate taxes or set very low tax rates.
Hong Kong, which levies a 16.5 percent corporate tax, was the most popular domicile with 140 Korean paper companies. The Cayman Islands had 49 letterbox firms, followed by 19 in Panama and 14 in the Virgin Islands, the researcher said.
SK Group, whose businesses range from energy and telecom to finance, had the largest number of shell companies in low-tax jurisdictions with 69, accounting for 24.3 percent of the total.
Except for three shipping companies located in Panama, most other branches under SK were registered as investment and financial consulting firms.
Lotte Group, the operator of retail chains, hotels and duty free shops, came next with 38 shell companies in such countries as Hong Kong, the Virgin Islands and the Seychelles.
Samsung Group, the nation’s top conglomerate, had 16 offshore units in Hong Kong, three in Panama and one in the Cayman Islands, according to the data.
For more: http://www.koreatimesus.com/s-korean-business-groups-have-237-firms-in-tax-havens/
Appointment of Board Director, Epcylon Technologies Inc.
TORONTO, June 25, 2015 (GLOBE NEWSWIRE) — Epcylon Technologies, Inc. (OTCQB:PRFC) (“Epcylon” or the “Company”), announces the appointment of its newest member of the Company’s Board of Directors, Mr. Leon Redensky, effective June 22, 2015.
Todd Halpern, Chairman of the Board of Directors for Epcylon, said, “Mr. Redensky brings significant financial services and product development experience to the Epcylon board. Mr. Redensky’s strong technical background in the fintech space coupled with his broker-dealer background will add immediate value to Epcylon as it pursues its domestic and Asian growth strategy.”
Mr. Redensky is a founding partner of Lynx Capital Partners, LLC, a technology and equity trading company, with offices in New York, Montreal, Kiev (Ukraine), and the Cayman Islands. Lynx trades equity products for its own account as well as develops trading technology for other clearing and trading firms in the capital markets space. Mr. Redensky manages the daily operations of the firm.
In addition, Mr. Redensky was one of the founding members of Viridian Spirits, which re-introduced Absinthe in the United States after a 95-year ban. After 5 years of leading the company, Viridian was sold to another distillery. Based in Manhattan, NY, Mr. Redensky graduated from the University of Pennsylvania with a BSE in bioengineering and a minor in economics.
More information on Epcylon, our products and our services can be found at the web address listed below.
Signed,
Todd Halpern,
Chair, Board of Directors
Jobseeker claims obeah man tried to con him
From Jamaica Star
A man accused of attempting to swindle money out of complainants and claiming he could rid one of them of evil spirits had his bail extended when he appeared in court recently.
The man, Owen Thomas, who was charged with attempting to obtain money by means of false pretence will reappear in the Corporate Area Resident Magistrate’s Court on July 22.
The Crown alleged that on April 25, about 3:30 p.m., the complainant received a call from his sister, who told him that a man known as ‘Cudjoe’ called her about an overseas work programme in The Cayman Islands.
It is further alleged that the complainant’s sister said Cudjoe instructed her to pay the sum of $10,000 to a woman at a bar in St Mary, who would assist her to obtain her plane fare. However, she ignored the caller’s instructions. It is said the complainant decided to contact Cudjoe. It is alleged that he told the accused that he was seeking an obeah man.
It is also said that the accused man immediately began telling the complainant that spirits were in his house and that he had seen it through his crystal ball.
It is further being alleged that the complainant was told that in order for him to be relieved of the evil spirits, he would have to pay the sum of $95,000, which would cover the cost of a ‘Goliath Stone’ and silver coins.
The stone would have supposedly relieve the complainant of the evil spirits and the silver stones would have enabled him to have more money.
Thomas then allegedly gave the complainant a bank account number for him to deposit the $95,000.
An arrangement was then made for both parties to meet at a tax office. Instead, the information was relayed to the police who apprehended Thomas and two other persons.
During the operation, the police seized cell phones, three silver coins and papers with names and addresses.
For more: http://jamaica-star.com/thestar/20150625/news/news1.html
SAS to set up overseas subsidiary for investment in PV power generation
Nuying Huang, Taipei; By Adam Hwang, From DIGITIMES
Solar-grade crystalline silicon wafer maker Sino-American Silicon Products (SAS) will set up a subsidiary to be registered in the Cayman Islands, SAS Sunrise, specifically for investment in PV power-generating stations. SAS Sunrise will initially invest in a PV power-generating station with installation capacity of 50MWp in the Philippines, according to the company.
SAS shareholders, at its 2015 meeting on June 25, approved the establishment of SAS Sunrise at an initial paid-in capital of US$2.5 million and SAS’ investment of US$2 million for an 80% stake. Operations of SAS Sunrise will be based on a Yield Co model, SAS said.
SAS shareholders also passed the distribution of a cash dividend per share of NT$1.80 (US$0.058) for 2014, accounting for 87.38% of the corresponding EPS of NT$2.06.
SAS has lowered its debt ratio by decreasing bank loans from NT$7.228 billion to NT$2.80 billion at the end of May, and has reserve credit lines that can be used to expand production capacity, the company indicated.
With an investment of NT$2 billion, SAS’ subsidiary, Sunrise Global Solar Energy, will expand annual production capacity for Celco, a P-type monocrystalline silicon solar cell model with an energy conversion rate of 20.5%, from 350MWp at the end of 2014 to 850MWp at the end of 2015, SAS said. In addition, Aleo Solar AG, SAS’ Germany-based own-brand PV module maker, has fully utilized 300MWp of production capacity due to increasing orders from Europe arising from the European Union’s anti-circumvention investigation of China-based PV module makers, SAS indicated.
SAS said it has obtained increasing orders for solar-grade polycrystalline silicon wafers with a maximum energy conversion rate of 19.2% from China.
For more: http://www.digitimes.com/news/a20150626PD201.html
SEC files another suspicious trading case
By Thomas Gorman | Dorsey & Whitney LLP From JD Supra Business Advisor
Outsized trades continue to draw SEC scrutiny and enforcement actions – even where the agency does not have the evidence to fully plead a claim. Despite the difficulties of these so-called “suspicious” trading cases, in many instances the Commission is able to develop the evidence to support its allegations. In the meantime the trading profits are typically held in a frozen account.
SEC v. Luo, (S.D.N.Y. Filed June 23, 2014) is a “suspicious” trading case. The action centers on the buy-out announcement for Qihoo 360 Technology Co, Ltd, by its Chairman and CEO and a consortium of other affiliates, announced on June 17, 2015. Defendant Hijian Luo is a resident of Guangzhou, China. He is the CEO of 4399 Co., Ltd., an online game company that provides single, multiplayer and children’s games along with animation through the internet.
Qihoo 360 is a Cayman Islands entity with its principal executive offices in Beijing, China. The firm, which conducts business through a number of subsidiaries and affiliates, is a leading internet company in China. The firm listed its ADSs on the NYSE in March 2011. The next month it conducted an IPO and trades under the symbol QIHU.
Mr. Luo opened an account with the San Francisco office of Credit Suisse Securities (USA) LLC on March 6, 2015. The account was not funded until May 18, 2015 when Mr. Luo wired in $720,000. The next day he purchased 2,250 QIHU out of the money call options at a total price of $711,778. The strike prices ranged from $60.50 to $65.00. The options were short term.
The options purchased by Mr. Luo became in the money as of June 11 when the stock traded at a high of $67 and closed at $65.95. Mr. Luo did not sell.
Following the buy-out announcement, which was for all of the outstanding shares and the ADSs, the share price of the company rose to $66.05 at the close on June 16, 2015. The next day the share price increased again, closing at $70.15.
All of Mr. Luo’s options were sold following the deal announcement. This resulted in a realized profit of about $1,019,537. On June 22 Mr. Luo transmitted wire instructions for the transfer of $600,000 to a bank in Singapore.
The complaint alleges, on “information and believe,” that at the time Mr. Luo purchased the call options he was in possession of material non-public information regarding the proposed transaction. The inside information was “tipped by such person with the expectation of receiving a benefit, such person did in fact receive a benefit, and Defendant knew of such benefit,” also alleged on information and belief.
The complaint alleges violations of Exchange Act Section 10(b). The Commission obtained a freeze order. The case is pending.
For more: http://www.jdsupra.com/legalnews/sec-files-another-suspicious-trading-67412/
Mexico’s minefield for migrants
From IRIN
José Amilcar, from El Salvador, had to walk for five days after being robbed by a gang on “La Bestia”, the notorious cargo train that migrants use to cross Mexico.
COAHUILA, 26 June 2015 (IRIN) – In July last year, under US pressure after a record number of unaccompanied Central American children reached the Mexico-US border, Mexico launched “Plan Frontera Sur” (the Southern Border Plan).
The initiative has led to a crackdown on migrants and asylum-seekers heading north on buses and trains.
Central Americans travelling across Mexico, who already run the gamut from kidnapping by drug cartels to extortion by criminal gangs, now face an increased chance of being detained and deported long before they reach the Mexico-US border.
For more: http://www.irinnews.org/report/101680/mexico-s-minefield-for-migrants
Governments urged to recognise value of sport in sustainable development
From The Commonwealth
A group of policy experts drawn from across the Commonwealth has called on governments to invest in sport as a tool to contribute to internationally agreed development goals.
Although sport does not feature among the 17 Sustainable Development Goals (SDGs) set to be adopted by the United Nations General Assembly in September 2015, the Commonwealth Advisory Body on Sport (CABOS) is asking policy-makers to recognise and embrace sport’s potential as a catalyst for achieving change.
The intervention by CABOS comes as the Commonwealth Secretariat convenes the Commonwealth Sport & Post-2015 Forum, bringing together policy-makers, practitioners and academics, to boost awareness of, and identify strategies for, the use of sport to achieve the post-2015 sustainable development agenda.
The Forum, taking place between 25-26 June 2015 at the world renowned Wembley Stadium in London, looks at how sport policy priorities and funding choices by governments and international organisations may be affected by the new SDGS, which are set to come into force in 2016.
Speaking ahead of the Forum, the Chair of CABOS, Louise Martin CBE, issued a statement reiterating the body’s strong belief that sport can contribute to SDGs related to promoting healthy lives, education, gender equality, peaceful and inclusive societies, innovation, growth and employment.
“Sport has the potential to make a valuable contribution to the post-2015 development agenda and emerging Sustainable Development Goals,” Ms Martin said. “[We call] on Commonwealth leaders, including Heads of Government, to promote multi-sectorial approaches to scale these contributions.”
Appointed by the Commonwealth Secretary-General, CABOS provides policy advice to the Commonwealth Secretariat and Commonwealth governments.
The CABOS Chair’s statement was issued following a meeting of the 14-member body in Trinidad and Tobago, hosted by the Caribbean Sport and Development Agency. During their meeting, CABOS members also stressed the importance of integrity and good governance for maximising the contribution of sport to sustainable development.
Oliver Dudfield, Head of Sport for Development and Peace at the Commonwealth Secretariat, said: “With this intervention, the Commonwealth Advisory Body on Sport is adding an authoritative voice to the debate around the role of sport in the post-2015 development agenda. Evidence suggests that people who participate in sports and regular physical exercise lead longer, healthier lives, while communities that embrace sport as a development tool benefit from wider social and economic benefits. This has policy implications for governments seeking to maximise the contribution that sport can make.”
For further information on CABOS as well as the Commonwealth Sport & Post-2015 Forum, please contact the Commonwealth Secretariat at [email protected].
IMAGE: Pictured: Secretary-General Kamalesh Sharma with young tennis stars
OPCW holds chemical safety and security course for Latin America and Caribbean countries
From Bio Prep Watch
The Organization for the Prohibition of Chemical Weapons (OPCW) said Tuesday it conducted an international course on chemical safety and security management in partnership with the Instituto Nacional de Tecnologia Industrial (INTI) of Argentina.
The five-day course held at INTI headquarters in Buenos Aires drew 19 participants from countries in the Latin American and Caribbean region. The course covered the best practices for safety and security procedures for laboratories so the facilities can better serve the mission of the Chemical Weapons Convention (CWC). The main focus of the course related to on-site procedures and managing either chemical or microbiological agents.
The course brought together individuals who will lead training sessions in their respective countries’ laboratory facilities. Countries that were represented included Bolivia, Brazil, Costa Rica, Chile, Cuba, Ecuador, Guatemala, Mexico, Honduras, Panama, Paraguay, Peru, Uraguay and Argentina .
The OPCW is the facilitating international organization for the implementation and enforcement of the CWC. The CWC stipulates that courses in areas relating to implementation, medical assistance, chemical management and security, analytical chemistry and policy be regularly held in major regions around the world for member states.
Organizations in this story
Organization for the Prohibition of Chemical Weapons 32 Johan de Wittlaan Den Haag, ZH 2517 JR
Norwegian to offer Caribbean destinations from US bases
From Breaking Travel News
Norwegian will launch flights from Boston, Baltimore/Washington, DC and New York City to two Caribbean destinations: the Guadeloupe Islands and Martinique.
Only two years after launching its long-haul operation, Norwegian will now be the largest foreign airline at New York’s JFK airport in terms of number of routes.
The airline currently offers 31 direct routes from the US.
Norwegian’s new seasonal service to the French West Indies will launch on December 3rd, 2015, with three flights per week from JFK to the Guadeloupe Islands’ Pointe-à-Pitre International Airport on Mondays, Wednesdays and Fridays.
Norwegian will fly from JFK to Martinique Aimé Césaire International Airport on Tuesdays, Thursdays and Saturdays.
“We launched our first long-haul flights to the US two years ago and the response from American travellers has been fantastic.
“It’s great to see that our low fares, friendly service and new, more environmentally friendly aircraft are appreciated.
“It is therefore a pleasure to be able to launch new, exotic routes between the US mainland and the Caribbean islands Guadeloupe and Martinique,” said Norwegian chief executive Bjørn Kjos.
“We will continue to expand in the US, by launching new routes and establishing more US bases.”
The new routes will also give Norwegian’s passengers from Europe a golden opportunity to combine a city break in New York with an exotic Caribbean vacation.
Norwegian already offers direct flights from London and the Scandinavian capitals to the Caribbean islands of Puerto Rico and St Croix, in addition to many other destinations in the US.
Conference seeks to bridge technology gap between Caribbean, Miami
BY MOLLY DUFFY From Miami Herald/Caribbean Digital Network
Entrepreneurs and businesspeople from Caribbean and African nations encouraged each other to drive the technological change their countries need at Miami Caribbean Code’s first Regional Tech Summit on Thursday in the Design District.
“Technology is just a thing that should be there to help us solve social problems, solve market problems, solve market demand needs,” said Natalie Cofield, president and CEO of the Greater Austin Black Chamber of Commerce, during her keynote speech. She urged attendees to invest in their home countries and then “go home and do business.”
“If we don’t believe in our community enough to go back in and create a solution for them,” she said, “we’ll be upset that somebody else came and did.”
Billions of dollars travel from the U.S. to the Caribbean and Africa, Cofield said. “So why can’t it flow on distribution channels that are created by the very people who are putting billions into the system?”
The conference was designed to bring focus on the need for technology advances in the Caribbean, said Eveline Pierre, co-founder of Miami Caribbean Code, dedicated to bridging the technological gap between the Caribbean and Miami. About 75 attended.
Technology can address a myriad of problems — including government accountability, access to education, energy security and public health access — facing both South Florida and the Caribbean, said Brian Fonseca, director of operations for the Applied Research Center at Florida International University.
“The Caribbean has suffered for a long time from constant brain drain. Intellectuals leave the Caribbean and move into markets that have better quality of life. And that’s just sad because we lose this intellectual power that we should be sustaining in our own communities,” Fonseca said.
Panelists throughout the day discussed technology’s influence on education, social impact, connectivity and economies. Addressing the problems in these areas begins with more access to technologies, panelists said.
“We have not spoken about new technology that does not exist in the world,” said Nehama Bikovsky, president of Maritime Consulting Enterprise. “However, when we go to the Caribbean, oftentimes we see that this not-amazing-anymore technology is still not there.”
As some technology reaches Cuba, Jason Ibarra, chapter director of Startup Grind Miami, cautioned attendees to “be a little cynical” about the rate of progress there. Despite growing internet access, costs are still relatively astronomical, he said.
“I spend personally about 1 percent of my income on broadband internet,” Ibarra said. “If [Cuban citizens] spent 1 percent on broadband internet, they would have 10 minutes a month.”
For more: http://www.miamiherald.com/news/business/technology/article25529275.html#storylink=cpy
Chairman of Antigua opposition party and talk show host charged with fraud
From CARIBBEAN360
IMAGE: FORMER EXECUTIVE SECRETARY OF THE BOARD OF EDUCATION AND SPEAKER OF PARLIAMENT, AND CURRENT UPP CHAIRMAN D. GISELE ISAAC.
ST JOHN’S, Antigua, Friday June 26, 2015 – Chairman of the opposition United Progressive Party (UPP) and former Speaker of Parliament D. Gisele Isaac is facing fraud charges connected with alleged wrongdoing while she served as executive secretary of the Board of Education (BoE).
Radio talk show host Algernon ‘Serpent’ Watts, who served as a debt collection officer for the Board, is also facing charges.
Both appeared in the St. John Magistrates’ Court before Magistrate Joanne Walsh yesterday and were released on bail.
Isaac and Watts are jointly accused of conspiring to defraud the Board of Education of EC$13,983.97 (US$5,179.25) between March 2013 and March 2014.
Isaac also faces additional charges of fraudulent conversion of the same money and fraudulent conversion of another EC$9,000 (US$3,333) , as well as corruption.
serpent watts
IMAGE: ALGERNON ‘SERPENT’ WATTS
Watts is singly accused of failing to pay Education Levy to the Commissioner of Inland Revenue between March 2013 and February 2014, being a person self employed as a debt collection officer at the BoE.
Isaac has been released on EC$35,000 (US$12,963) bail, with a cash component of EC$15,000 (US$5,555) while Watts’ bail was set at EC$15,000 (US$5,555) with a EC$5,000 (US$1,851) cash component. They will return to court on October 25.
As a condition of their bail release, the two had to surrender their travel documents and ordered to report to the police station every Monday, Wednesday and Saturday.
