iNews Briefs
Tony Blair allegedly earned thousands in secret contracts with a Saudi oil company [registered in Cayman Islands]
By Joshua Barrie From Business Insider
Former British Prime Minister Tony Blair allegedly earned £41,000 a month after signing a contract with a Saudi oil company, The Sunday Times reports.
Blair brokered multi-million pound deals for PetroSaudi with senior Chinese officials through his company Tony Blair Associates, according to The Sunday Times.
His lucrative dealings, discovered in a leaked 21-page document, are said to have been agreed in November 2010 in Beijing and also came with a 2% commission on transactions.
PetroSaudi is registered in the Cayman Islands, a well-known tax haven, and apparently avoids 85% of oil and gas company taxes.
Blair’s role as a peace envoy in the Middle East, after sending British troops to Iraq in 2003, is now under further scrutiny.
This is believed to be the first time a contract negotiated by Blair has been revealed; there are notes the work lasted just a few months.
The Sunday Times explains a source informed the paper that Blair “has got deep ties to the Middle East” and spoke of a “confidential engagement to help develop business in China.”
A spokesperson for Blair responded: “Tony Blair Associates worked for PetroSaudi for a period of months over four years ago.”
For more: http://www.businessinsider.com/tony-blair-contracts-with-saudi-oil-company-2014-11#ixzz3ImTt4F3z
Cayman Islands HAS offers FREE screenings Nov 18 to celebrate Kidney Day
The Cayman Islands Health Services Authority (HSA) invites the public to join in celebrating Kidney Day.
Tuesday November 18th
9:30am – 12:00noon
FREE testing for blood pressure, blood sugar and cholesterol
Cayman Islands Hospital Atrium
Please see flyer attached
Severe flooding hits Haiti, Dominican Republic
From Caribbean Life
CAP-HAITIEN, Haiti (AP) Thousands of families in Haiti and the neighboring Dominican Republic have been displaced by floods from a storm system that drenched the countries for several days, officials said Thursday.
Haiti’s Department of Civil Protection said at least 6,000 homes were flooded in Cap-Haitien and several nearby communities and at least 66 homes were completely destroyed. At least five people were killed and one was missing.
President Michel Martelly and Prime Minister Laurent Lamothe both toured the area Thursday as officials distributed food and other supplies to flood victims as waters began receding with drier weather.
People in affected neighborhoods walked through knee-high water to retrieve what they could from their flooded homes. Officials said at least 4,000 people were in temporary shelters set up at local schools.
The storm also caused widespread damage to farms, but agricultural officials were still evaluating the extent of the damage and a damage estimate was not yet available, the civil protection agency said in a statement.
In the Dominican Republic, more than 2,000 people were displaced by floods and mudslides, the country’s Emergency Operations Center said.
Overall, the storm is blamed for at least 12 deaths in the two countries and nearby Puerto Rico.
For more: http://www.caribbeanlifenews.com/stories/2014/11/2014-11-10-ap-flooding-cl_2014_11.html
Cayman forum registrations on the rise
The organisers of Cayman Captive Forum 2014 have said that registrations have now passed the 1,100 mark and are climbing fast.
Registrations are anticipated to match or exceed last year’s record of just over 1,350 attendees.
Further details about the event can be found at: http://www.imac.ky/Forum
British Foreign Office covers up important slave trade documents
By Rykesha Hudson From The Voice
Historic papers about the slave trade have been held in secret archive
Significant slave trade documents are among the Foreign Office’s secret hoard, it has been revealed.
The Guardian reported that historic papers about the slave trade are among the enormous collection of public documents that the Foreign Office has unlawfully hoarded in a secret archive.
These papers might provide information for people seeking compensation for their ancestors’ suffering.
Some of the papers appear to date back to 1662 and are thought to contain information about England’s involvement in slavery, while others were created in the 19th century and detail British attempts to suppress the trade.
They are contained in a vast archive of 1.2 million files that the Foreign Office has kept at Hanslope Park, a high-security compound that it shares with MI5 and MI6 in the Buckinghamshire countryside north of London.
Under the Public Records Acts, the slavery papers should have been handed over to the National Archives in Kew, southwest London.
The Foreign Office has not answered questions about the papers, and historians say it is difficult to be sure of their significance without having an opportunity to examine them.
IMAGE: BRUTAL: This is an undated photo of an illustration of slavers subduing their African captives in the cargo hold of their slave ship (PA)
For more: http://www.voice-online.co.uk/article/foreign-office-covers-important-slave-trade-documents
Pedro St. James – Birthplace of Caymanian Democracy
From Examiner
Located on Grand Cayman Island is the oldest known existing stone structure in the Cayman Islands today. (Situated in the western Caribbean Sea, the Cayman Islands are a British Overseas Territory comprised of the three islands of Grand Cayman, Cayman Brac and Little Cayman.) It was formerly known as Pedro Castle since it was one of the largest built structures on the island and was built at a time when most Caymanians lived in simple thatch homes. Constructed in 1780 by a wealthy Englishman, it is the only remaining late 18th century island residence. However, it wasn’t always a residence as through the years it would also serve as a courthouse and jail.
Pedro St. James as it is known today, is best known as the “Birthplace of Democracy in the Cayman Islands” since it was the site of a historic meeting of residents which took place on 5 December, 1831. During this time it was resolved that representatives should be appointed from the various districts to formulate local laws for better governing. In addition, another historic event took place at Pedro St. James in May 1835, when a proclamation declaring the emancipation of all slaves throughout the colonies was read at Pedro St. James and other places in the Cayman Islands. What is remarkable about this is that the United States had not issued an Emancipation Proclamation until January 1, 1863 – lagging 28 years after the Cayman Islands proclaimed all slaves to be free men.
These days, the Pedro St. James house is considered an accurate restoration of the original plantation home that was built here, representing a colonial period from 1820 through 1840. Details include the use of rough-hewn timber beams and wooden pegs along with gables. The floors, staircases, and doors are mahogany. The multi-sensory 3-D presentation begins every hour from 10 am to 4 pm, and is an excellent introduction to the history of the island.
For more: http://www.examiner.com/article/pedro-st-james-birthplace-of-caymanian-democracy?cid=rss
70 Haiti migrants found stranded on remote Caribbean island
From Jamaica Observer
SAN JUAN, Puerto Rico (AP) — US authorities say they have found 70 Haitian migrants on an uninhabited island west of Puerto Rico.
The US Customs and Border Protection agency said in a Monday statement that agents apprehended the group of 46 men and 24 females, including three minors, on Mona Island. Officials say the migrants are Haitians and were in decent health when they were found on Saturday.
The rugged island lies in a treacherous passage between Puerto Rico and the Dominican Republic. Smugglers in the Dominican Republic sometimes ditch migrants there.
Chief patrol agent Ramiro Cerrillo says “smugglers leave migrants stranded in Mona making them believe they safely have reached Puerto Rico.”
A US Coast Guard cutter brought the migrants to Puerto Rico where they will be processed and transported back to Haiti.
Trinidad to step up deportations of migrants
From Caribbean Life
PORT-OF-SPAIN, Trinidad (AP) _ The government of Trinidad & Tobago says it plans to crack down on the estimated 110,000 migrants living in the twin-island nation illegally — even knocking on doors to track them down.
The migrants have until early January to get their documents in order before authorities launch a large deportation campaign next year that would include door-to-door visits, National Security Minister Gary Griffith said in remarks published Thursday by the Newsday newspaper.
Griffith said the steps are meant to help reduce crime.
He did not provide further details and did not return a message for comment.
Griffith said the government will unveil a plan in upcoming weeks to regularize the status of migrants.
“I am not turning a blind eye to the fact that over 10 percent of the adult population in this country are persons here illegally,” he was quoted as saying. “That is unacceptable.”
He also said that not all migrants living on the twin island illegally would be deported, and that the government would help those whose employers vouch for them.
Trinidad & Tobago has long attracted migrants because it is one of the most prosperous Caribbean countries thanks to natural gas and oil reserves that make it a major fuel supplier.
Griffith has previously said that the largest share of migrants, nearly 26,000, come from the nearby South American country of Guyana, followed by nearly 20,000 from Jamaica.
For more: http://www.caribbeanlifenews.com/stories/2014/11/2014_11-10-ap-trinidaddeportations-cl.html
The Caymans: a beginner’s manual – Lonely Earth travel movie
From New Tel Aviv
Understand about three Caribbean islands – Grand Cayman, Cayman Brac and Little Cayman – renowned for their allure and hospitality. Pay a visit to http://www.lonelyplanet.com
For more: and video go to: http://newtelaviv.com/the-caymans-a-beginners-manual-lonely-earth-travel-movie/
US agency may halt risky democracy work
From The Chronicle Telegram
WASHINGTON (AP) — The U.S. global development agency is preparing internal rules that would effectively end risky undercover work in hostile countries, such as the once-secret “Cuban Twitter” program it orchestrated, The Associated Press has learned.
The new policy follows an AP investigation this year into work by the U.S. Agency for International Development, which established a Twitter-like social network in Cuba andsecretly sought to recruit a new generation of dissidents there while hiding ties to the U.S. government.
The AP found USAID and its contractor concealed their involvement in the Cuban programs, setting up a front company, routing money through Cayman Islands bank transactions and fashioning elaborate cover stories. That subterfuge put at risk the agency’s cooperation with foreign governments to deliver aid to the world’s poor; last month, it pledged more than $140 million to fight Ebola in West Africa.
USAID’s proposed policy closely mirrors a Senate bill this summer, according to government officials familiar with the discussions who were not authorized to talk about the matter publicly. That bill would prohibit USAID from spending money on democracy programs in countries that reject the agency’s assistance, where staff wasn’t directly hired and where USAID would have to go to “excessive lengths to protect program beneficiaries and participants.”
The officials said USAID’s high-risk democracy efforts would likely be moved under the aegis of another arm of the State Department and the National Endowment for Democracy, a nonprofit group that receives money from the U.S. government. Such a change would have effectively made it impossible for USAID to run programs such as the “Cuban Twitter” project, known as ZunZuneo.
In a statement late Sunday, USAID said it would continue to carry out democracy programs in “politically restrictive environments” and aim to be transparent. But it said the new rules would balance safety and security risks, which aligns with proposed legislation that would stop USAID’s democracy work in hostile countries that outright reject the agency’s help and where USAID’s role had to be minimized. The statement said that the rules have not been finalized.
“We will also examine risks that might constrain effective implementation of the projects or undermine the safety of our partners, such as programmatic, legal, financial, physical and digital security-related risks,” it said.
For more: http://chronicle.northcoastnow.com/2014/11/10/us-agency-may-halt-risky-democracy-work/
Carnival Pride Launches Winter Schedule of Seven-Day Caribbean Cruises from Port of Tampa [includes Grand Cayman]
MIAMI, Nov. 10, 2014 /Nassau News Live/ — Carnival Pride kicked off a winter schedule of seven-day Caribbean cruises from the Port of Tampa yesterday following an extensive $75 million dry dock that added a wide variety of Fun Ship 2.0 innovations, including four spectacular Playlist Productions shows.
On its new winter schedule from Tampa, Carnival Pride departs Sundays on week-long cruises to four popular Caribbean destinations: Cozumel, Mexico; Mahogany Bay, Isla Roatan; Belize City, Belize; and George Town, Grand Cayman, or Costa Maya, Mexico. Each of these destinations features beautiful beaches, unique cultural experiences and a variety of shore excursion choices, from ziplining, snorkeling and kayaking to cave tubing and exploring ancient ruins.
“We’re very excited to launch a winter schedule of Caribbean cruises from Tampa on the Carnival Pride, which is better than ever with a wide variety of new Fun Ship 2.0 dining, bar and entertainment innovations, including four new Playlist Productions shows,” said Gerry Cahill, Carnival president and CEO. “Not only does the Carnival Pride offer fantastic new choices for our guests it also provides our travel agent partners with an outstanding, value-packed Caribbean cruise option from Tampa for their clients,” he added.
China, Russia sign accord on second gas route
From Loop News Service
The leaders of China and Russia signed agreements Sunday to boost energy cooperation, including an understanding to develop a second major route to supply the Chinese side with Russian gas following an initial $400 billion deal in May.
The cooperation with China gives Russia a boost at a time when Washington and the European Union have imposed sanctions against Moscow and grown increasingly wary of the Kremlin because of the crisis in Ukraine.
Presidents Xi Jinping of China and Vladimir Putin of Russia presided over the signing of the accords, which also included financing agreements, after meeting in Beijing ahead of this week’s Asia-Pacific Economic Cooperation summit.
“Regarding cooperation in the international sphere, the most important thing is cooperation between China and Russia to keep the world within the framework of international law, to make it more stable, more predictable,” Putin said. “Together we’ve done a lot to achieve that, and I am sure we will work in this direction in the future.”
One of the memorandums of understanding is to develop a western route for the delivery of Russian gas, following the May agreement to supply 38 billion cubic meters of gas annually through an eastern route.
“Together we have carefully taken care of the tree of Russian-Chinese relations. Now fall has set in, it’s harvest time,” Xi said.
The deals give Russia a way to vastly expand its market for its gas, which now goes mostly to Europe. For China, the world’s second-largest economy, the cooperation helps ease gas shortages and curb its reliance on coal.
Mr. and Mrs. Mike Sala get married in Cayman Islands
From The Shawnee news-Star
Sheila Laughlin and Mike Sala were married Oct. 2, 2014, on the beach in Grand Cayman Island. Joy Basdeo officiated
The bride is the daughter of Albert and Juanita Laughlin of Shawnee.
The groom is the son of Bobby Ray Sala and the late Helen Marie Tate.
The bride was escorted by her nieces, Summer and Ashli Johnson. Also in attendance were Melanie Laughlin, Stephanie Sala, Tammy Tipton, Dylan Tipton, Michael and Tracy Brown, Todd, Patti, and Austin Chester, Angie Wick, Kristin Wollam.
The bride wore a white halter style gown embellished with pearls. She carried a bouquet of tropical flowers and seashells, courtesy of Teana Smith and Tracy Brown.
Following a reception on board the Carnival Magic, the couple cruised the Caribbean. They live in Shawnee.
The bride is a graduate of Shawnee High School and East Central University. She was employed as an executive assistant for the District Office of Farmers Insurance for 10 years before medically retiring.
The groom is a graduate of Tecumseh High School. He is employed with the United States Postal Service.
For more: http://www.news-star.com/article/20141106/News/141109832#ixzz3ImdUibgp
Caribbean foreign ministers to meet in Japan
From Jamaica Observer
KINGSTON Jamaica — Caribbean Community (CARICOM) foreign ministers including Jamaica’s Minister of Foreign Affairs and Foreign Trade AJ Nicholson will meet with their Japanese counterpart on Friday for talks aimed at strengthening the relations between the 15-member regional grouping and Japan.
According to a joint statement issued on Monday, the November 15 meeting is a follow-up to the first Japan-CARICOM Summit held in July “and are expected t enhance collaboration on various gobal agenda, including environment issues and climate change”.
The statement said that CARICOM countries “frequently taking a common position in the international arena, hold a certain presence in the international community.
“It is expected that they will deepen their understanding and support towards Japan’s position on various global issues through this conference”.
The statement said that it is expected that the relationship between Japan and the regional community bloc “will be further strengthened through this conference on the occasion of Japan-CARICOM Friendship Year 2014”.
The Jamaican delegation includes Ambassador of Jamaica to Japan H E Ricardo Allicock and Director for Caribbean and the Americas in the Ministry of Foreign Affairs and Foreign Trade Angella Comfort.
For more: http://www.jamaicaobserver.com/latestnews/Caribbean-foreign-ministers-to-meet-in-Japan
Investors Trust Assurance SPC moves Miami office to new location
GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–Investors Trust Assurance SPC (“ITA”) is pleased to announce that its office in Miami has moved to a new location in Brickell, the Financial District of Miami. This new office, in the heart of the growing city of Miami, supports the Company’s innovative and progressive culture, while offering a prime location for convenient business.
Miami is a multi-cultural city and acts as a gateway to the Latin American markets, making it an ideal location for international businesses. The Financial District, known as ‘Brickell’, is growing at a fast pace and is home to many major financial firms, some even call it “The Wall Street of the South”.
Investors Trust believes that this move supports the expansion of the Company. The new office building has obtained a Gold LEED Certification, further enhancing the Company’s responsibility program. ITA seeks to strengthen its mission by absorbing the synergetic environment found at the new location.
“We believe that this move supports our initiatives as a company to remain cutting-edge, while further promoting our environmentally conscious efforts. Overall, this move strengthens our expansion plans as a company,” says Tonio Aleman, Chief Operating Officer at Investors Trust. “From an operational standpoint, we couldn’t be anywhere else in Miami as the excitement of this location motivates the nature of our business.”
Investors Trust Assurance SPC is an international insurance company licensed and regulated by the Cayman Islands Monetary Authority. ITA carries a financial strength rating of B++ (Good) from A.M. Best, and is a member of the Association of International Life Offices (AILO). Since its foundation, ITA has gained a leadership position in the international insurance market, with a presence in more than 40 countries. ITA’s core product portfolio is comprised of medium- to long-term investment-linked products targeted to emerging market consumers who are assisted by independent financial advisors. The products are flexible, tax-efficient and designed to meet the needs of the various customer segments around the world who share the same goal of having a solid financial plan for their futures. ITA offers its plan holders access to the global financial markets through a wide range of funds from the finest Asset Managers, quality multi-lingual service, as well as an advanced and user-friendly internet platform.
Dentist found dead in drain
From The Star
IPOH: A dentist was found dead in a drain in Taman Canning on Saturday.
Police believed P. Nanthakumaran, 69, could have slipped into the drain while parking his car.
The body of Nanthakumaran, with the face down, was found by his younger sister at about 11am.
Ipoh district police chief ACP Sum Chang Keong said police ruled out foul play and believed the victim slipped into the drain after parking his car.
“The victim was said to have left the house at about 10pm on Friday and when he did not return home, family members thought he was spending the night at a friend’s house as it was raining heavily then,” he said when contacted.
The body was sent to the Raja Permaisuri Bainun Hospital for a post-mortem which revealed that the victim drowned.
For more: http://www.thestar.com.my/News/Nation/2014/11/08/dentist-found-dead-in-drain/
Jamaica, Caribbean Cup underachievers?
From Digicel SportsMax
Despite being only one of two teams to hold multiple titles at the Caribbean Cup, many would point to Jamaica’s tally of five, as somewhat of an underachievement.
In recent times, the general feeling is that the Reggae Boyz, considered one of the region’s big team, have not always fielded its strongest 11 for the regional tournament.
With a spot on the line for, not only next year’s CONCACAF Gold Cup, but also a place in the 2016 Copa América Centenario for the tournament’s winner, things will be very different for the Jamaican team.
German coach Winfried Schäfer has promised to field the best team available, an ambition that is likely to be aided by the fact that the tournament will take place, for the first time, during an official FIFA International Window.
The coach will hope to look to a core of English and US-based professionals to help the team claim a first crown since 2010.
After falling some 30 places in the rankings since the start of the year to sit at 113th and the Reggae Boyz, once considered the kingpins of the Caribbean, will head into the eight team playoff, the second lowest ranked, among teams with a current FIFA ranking. The situation has put a lot of pressure on Schäfer, who has not delivered a win with Jamaica’s national team since March of this year. Since that time the team has gone on a six game winless streak.
In addition to claiming the crown in 2010, the team previously won the tournament in 2008, 2005, 1998 and ‘91. The Jamaicans have also picked up the most Most Valuable Player awards with five. As host nation, the team did not have to qualify but have been drawn in group B alongside Haiti, Martinique and Antigua and Barbuda.
For more: http://www.sportsmax.tv/?q=articles/2014/11/09/jamaica-caribbean-cup-underachievers
LatAm, Caribbean exodus: 28.5 million living outside countries of origin
From Buenos Aires Herald
Around 28.5 million of Latin American and Caribbean natives are living outside their countries of origin, a report by the Economic Commission for Latina American and the Caribbean (ECLAC) has revealed.
The “Trends and Patterns in Latin American and Caribbean Migration in 2010 and Challenges for a Regional Agenda” document shows that 4 percent of emigrants are from Latin American and Caribbean nations while 40 percent of them are from Mexico (around 11.8 million people). Colombia stands next with 2 million and El Salvador with 1.3 million.
“In terms of destination countries, the United States ranks first as home to 20.8 million Latin American and Caribbean emigrants (70 % of the total), which includes nearly all of the 12 million Mexicans who live outside their country. Spain is the second most-common destination with 2.4 million people (8 % of the total),” the report highlights.
Meanwhile, the ECLAC estimates the immigrant population in the region at 7.6 million people, accounting for 1.1 percent in global terms, most of them born in Latin American or Caribbean countries migrating to regional nations in a process known as “intra-regional migration.”
Argentina, Venezuela, Costa Rica and Domican Republic have become the main destinations for these migrants.
Migratory flows within the region rose at an annual rate of nearly 3.5 % between 2000 and 2010, marking acceleration from the previous 20 years when they grew at a pace of roughly 1%.
“In light of the dynamism that continues to be seen in migration in Latin America and the Caribbean, the report signals that intergovernmental forums-both in and outside the region-are including in their agendas a common stance to defend migrants’ human rights and reject the restrictive, unilateral measures used by some developed countries that are destinations for Latin American and Caribbean emigrants,” the report concludes with the ECLA suggesting an “agenda” to work on “development strategies” and “regional plans to take advantage of the benefits of migration.”
“That agenda should also allow for greater dialogue and cooperation on migration, human rights and development in global forums, while also making progress on protecting the rights of migrants-particularly children, adolescents, women, low-skilled workers and people who are in irregular situations or have been forced to seek refuge.”
Kempinski plans Caribbean debut, in Dominica
By Gay Nagle Myers From Travel Weekly
Kempinski Hotels will make its debut in the Caribbean with the 101-room Cabrits Resort Kempinski Dominica on the north shore of the island, near the town of Portsmouth.
The resort will be surrounded by Cabrits National Park.
The luxury resort is the first government-approved real estate project under the Citizenship By Investment Program, whereby investors can obtain citizenship in Dominica by purchasing a share in the development for $200,000 in a limited partnership structure.
Range Developments, the developer, focuses on luxury projects and is currently at work on the Park Hyatt St. Kitts, slated to open in December 2015.
There is no time line for the Dominica project.
For more: http://www.travelweekly.com/Travel-News/Hotel-News/Kempinski-plans-Caribbean-debut-in-Dominica/
A loss to Caribbean’
From Trinidad Express
Dr Myles Munroe, who died in a plane crash on Sunday, was described yesterday as a “wealth of wisdom” who made a significant impact on the lives of people. The founder of the Bahamas Faith Ministries, a prominent motivational speaker, writer and preacher died along with his wife Ruth-Ann and seven others while on his way to Grand Bahama to attend the 2014 Global Leadership Forum.
The last time he visited Trinidad and Tobago was in 2007, when he attended the Legacy of Leadership Conference hosted by the Family Focus Broadcasting Network and ISAAC 98.1 FM. He was the feature speaker for that event and was welcomed by former president Arthur NR Robinson and former prime minister Patrick Manning.
Senior news editor and presenter at ISAAC 98.1 FM Stephen Cummings said yesterday: “Dr Myles Munroe has been really a great inspiration not only us here at the station but also Trinidad and Tobago. “He has visited here on several occasions and each time there was this feeling of hope that he brought to a lot of people. I think it is going to be very difficult to replace Dr Munroe and the contribution he has made not only to the Christian community but also communities at large.”
Cummings said Munroe impacted his life in a “very deep and significant way” and many were still in shock at his passing.
Gospel artiste Isaac Blackman who performed during the conference, said he was heartbroken at the news of Munroe’s death. Blackman said, “It is a loss to the Caribbean. I feel heartbroken that this tragedy took place, but we will remember him for his great contribution to us in the Caribbean as well as representing us all over the world. His memory will never be forgotten.”
Rev Ria Hosein of the International Pentecostal Assemblies (IPA) also expressed her sentiments, “A man that was an icon of wisdom in the deep principles of kingdom life and this has been taken away from us. We are very grateful for his works that he has already recorded and we hope to glean from it. He was a wealth of wisdom.”
For more: http://www.trinidadexpress.com/news/A-loss-to-Caribbean-282228971.html?m=y&smobile=y
See related iNews Cayman story “Bahamas Faith Ministries leader Myles Munroe and wife killed in plane crash” at: http://www.ieyenews.com/wordpress/bahamas-faith-ministries-leader-myles-munroe-and-wife-killed-in-plane-crash/
Andy Dick arrested
From philly.com
Troubled comedian Andy Dick has been arrested on suspicion of theft.
The 48-year-old funnyman was detained by police in Los Angeles late on Friday night over allegations he took a necklace worth $1,000 from a man on the city’s Hollywood Boulevard earlier this month.
Dick was released from police custody in the early hours of Saturday morning after posting $25,000 bail.
He is due to appear in court in L.A. on 4 December.
World Bank assisting OECS, Caribbean to develop access to credit
By Andre Huie From west Indies News Network
St. Kitts and Nevis (WINN): Access to credit for small and medium businesses in St. Kitts and Nevis remains a problem. If businesses can’t get credit, there is little room for growth and by extension contribution to the economy. In the Ease in Doing Report 2015 prepared by the World Bank, countries like Trinidad and Tobago are lauded for having a credit bureau, which among other things help small businesses find credit options and become credit worthy. It’s an area St. Kitts and Nevis can look into according to Operations Analyst at the World Bank Iryna Bilotserkivska.
The World Bank also says it’s providing support in access to credit for small and medium enterprises in St. Kitts and Nevis. Ms. Sophie Sirtaine, the Caribbean Country Director at the World Bank said the World Bank has been working closely with the Eastern Caribbean Central Bank in regulations and supervision of commercial banks. She explained while it may not provide access to credit, this initiative will help create a secure and stable financial system. “What we also do a lot of in the Caribbean is working on their financial infrastructure that will help financial institutions better assess risk and therefore allow them to lend to borrowers that before were excluded,” Ms. Sirtaine said. “We are also helping to build collateral registries, not just real estate but movables so borrowers can collateralize assets not just houses and buildings but also movables which typically is very useful for smaller borrowers to get access to credit,” the World Bank official added.
However Governor of the Eastern Caribbean Central bank Sir K Dwight Venner raised another issue as it pertains to access to credit—the development of the private sector. “I think there is a very deliberate effort to develop the private sector, very deliberately and it’s not only the enabling environment. I think we have to targeting groups of people and to help them to develop firms for export because the domestic market is too small,” the Governor said. “We have a lot of firms but we don’t necessarily have industries,” he added.
For more and audio: http://www.winnfm.com/news/local/10395-world-bank-assisting-oecs-caribbean-to-develop-access-to-credit#sthash.zSJeko3s.dpuf
