September 20, 2020

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iNews-briefs217 reincorporates to Cayman Islands

By Chief Amherst Correspondent From Amherst Muck-Rake

Amherst, MA — Amherst College’s investment club recently announced that it had completed the steps necessary to undergo a corporate inversion, reincorporating itself offshore to the Cayman Islands. Primary operations of the club will remain in the United States.

“It just seemed like the right move,” said investment club spokesperson Trent Blackstone ’15. “Big corporations and hedge funds do it all the time. We just wanted to insure that, at Amherst, we have the best balance sheet moving forward.”

When asked what, if any, taxes were being avoided in the move, Blackstone had already been hired by Bain, and was gone.

For more: http://amherstmuckrake.com/2014/10/11/investment-club-reincorporates-to-cayman-islands/

 

Woman lost for 17 days in Queensland wilderness survives by eating fish, insects

By Jenni Ryall From Mashable

SYDNEY — Last Wednesday morning, a woman walked out of the Queensland rainforest alive after being lost for 17 days.

Shannon Fraser, 30, told her family she survived the ordeal by eating insects and drinking river water, ABC News reported.

Fraser, from Innisfail, had lost 17 kilograms during the ordeal and was extremely sunburnt and dehydrated when she emerged from the Golden Hole swimming spot near Josephine Falls in far north Queensland.

The mother of three had been missing since Sunday, Sept. 21. and police feared she had met with foul play or been taken by a crocodile.

Her brother, Dylan, told ABC Fraser had followed her partner, Heath Cassady, into the rugged terrain three weeks ago. In the course of the journey, the newly-engaged couple became separated.

“She must have taken a wrong turn, and got lost,” Dylan said. “I honestly didn’t know what to believe, there were so many stories flying around, the police didn’t have much of a lead.”

To survive, Fraser lay in the cool, fresh water of the falls to soothe her burns, ate small fish and insects and eventually followed markers left by the search team back to a picnic area. A farmer saw her emerge from the bush and rushed her to the hospital to be treated. Her clothes had been ripped off by the trees, her brother said.

He was elated his sister had been found alive after so long in the wilderness.

“She was that exhausted, she couldn’t walk, she just felt like giving up,” Dylan said. “She just stayed strong, and made it out.”

Her partner, who reported her missing and helped lead the search, said it was a miraculous survival, but he had never given up hope.

“Her whole body is scarred and peeling, she’s been through a lot,” Cassady told News Limited. “It is amazing she’s still alive.”

For more: http://mashable.com/2014/10/08/shannon-fraser-found-queensland-rainforest/?utm_campaign=Feed%3A+Mashable+%28Mashable%29&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=feedburner&utm_content=Google+Feedfetcher

 

Redundancies announced at Cayman Islands trust company

Michael Hodgson, Ppresident of Cayman National Trust Co. Ltd. said has announced on 30 September, “regrettably” four positions will be redundant “after a review of the business.”

The positions affected include an accountant, a trust administrator, a senior executive and a filing clerk.

Hodgson, who is the only non-Caymanian at Cayman National Trust Co., confirmed that all four staff affected were Caymanian and provided with severance packages in excess of what is required by law.

“Restructurings are never made without a great deal of thought and consideration at board level as obviously, people’s lives are sadly impacted,” he said.

SOURCE: Cayman Compass. Read whole article at: http://www.compasscayman.com/caycompass/2014/10/13/Four-redundancies-at-Cayman-National-s-trust-company/

 

Charlie Crist, Florida Gubernatorial candidate courting the Caribbean vote with visits and radio ad

From Jamaicans Blogs

Florida Democratic Gubernatorial candidate, Charlie Crist has been courting the Caribbean vote in South Florida as the November elections draw nearer. Last weekend he visited 5 churches with majority Caribbean presence, the Caribbean Kiddies Carnival and a private fundraiser held by prominent South Florida Caribbean community leaders. Today he released a radio advertisement (listen below). Will we see the Florida Republican Gubernatorial candidate, Rick Scott, court the Caribbean community in the next few weeks?

For more: http://blogs.jamaicans.com/soapbox/2014/10/11/charlie-chris-florida-gubernatorial-candidate-courting-the-caribbean-vote-with-visits-and-radio-ad/#sthash.M4jObrXn.dpuf

 

Cayman Islands Chamber president says for economy to grow so must population

Johann Moxam, speaking at the Chamber of Commerce’s Legislative Luncheon at The Ritz-Carlton, Grand Cayman on Thursday, Oct. 9, said:

“It’s no coincidence that during the peak of our economy in 2006 to 2007, while population, GDP and GDP growth were all higher, unemployment was significantly lower, at less than 4 percent.

“While some in our society undoubtedly celebrate the loss of a thousand permit holders competing for jobs with Caymanians, there are two sides to every story,” he said. “The other side of the story is that 1,000 fewer residents means Cayman businesses have 1,000 fewer customers; Cayman landlords, 1,000 fewer tenants; restaurants, 1,000 fewer diners; the Cayman government, 1,000 fewer people spending money and paying fuel, stamp and import duties. That is real money, ladies and gentlemen, real money that is effectively really gone from our economy.

“Those that think the financial services sector is doing well enough or even making too much money simply do not understand how the Cayman economy works and its role on the global stage. We must find a way to encourage more financial services firms to call Cayman home.”

 

“Caribbean rapper chromatics taking on Canada with hit single & new video in hand”

By South Florida Caribbean News

Port-of-Spain, Trinidad – Passion in heart, Trinidad and Tobago rapper, Chromatics is preparing for his post video release promotion in Toronto, Canada. Just about two weeks ago, the entertainer who has defied the odds and made a name for himself locally and throughout the Caribbean, delivered the much-anticipated video for his single, ‘Never Satisfied.’ It’s been making the rounds but above everything, Chromatics says his hope is that people will understand the song’s message.

Determined to end 2014 with powerful messages through his music, Chromatics says this particular song and the video exemplifies the need for people to strive for more in their lives, instead of settling for mediocrity. Shot in and around Trinidad, at venues such as the scenic capital of Trinidad, Port-of-Spain, and the natural surroundings down the islands, on the outskirts of the city, the video for ‘Never Satisfied’ speaks volumes and encourages everyone to fight harder in their lives, no matter the circumstance.

Explaining that the song is a demonstration of his rapping ability, having delivered a production that is on par with set international standards, Chromatics says he also made every effort to deliver elements that would let the world know that the track is a Trinidad and Tobago production. Its concept was collaboratively created between the artiste himself and director, Akino Williams of Red Beam Evolution productions, but Chromatics says many people assisted in the overall production, granting favors and offering tremendous support when needed. “I’m truly grateful to everyone who helped me out during this process. Originally, shooting was supposed to have been wrapped up in three days but we ended up going into five painstaking days of production,” explained Chromatics. He admitted that there were setbacks during the production of the video, setbacks that could have led to him settling with certain shots, but much like the video’s sentiment, he simply couldn’t allow himself to settle for mediocrity; he wanted the best.

For more: http://sflcn.com/15289/

 

Cayman Islands MLA says Not Guilty verdict on former premier’s case said ‘Caymanian people lost’

Cayman Islands George Town MLA Winston Connolly said in a written statement, “The Caymanian people lost and the message sent to our people is a sad one. However, the process was in accordance with the rule of law and we showed the world that no one is above the law. We arrested and put on trial the highest office in the land for alleged wrongdoings.

“That is the only thing I’m proud of with this result. If people don’t have an issue with this, then I feel sorry for us all and where we are as a country.”

Connolly also said the territory’s former governor, Duncan Taylor, was “desperate to see the situation change and his words were unfortunate.”

 

£6.1m former West Ham player scores on international debut … again

By Matthew Nash From HITC Sport

In 2007 West Ham United looked to have snapped up a steal with the signature of French international Julien Faubert. He cost £6.1 million from Bordeaux in a five-year-deal after a move to Rangers collapsed and he was considered an excellent signing.

Lightning quick with serious pedigree Faubert unfortunately struggled at Upton Park. He spent most of his first season with an Achilles tendon rupture so played just seven times and despite a decent season after returning from a loan deal at Real Madrid he was eventually allowed to leave on a free transfer in 2012 – joining Turkish side Elazigspor.

That deal at Real Madrid was much more troublesome. Considering one of the club’s worst ever signings he missed a day of training after getting his days mixed up and fell asleep on the bench during a game. Real spent £1.5 million on bringing him on loan, but at the end of the deal they, not surprisingly, decided not to snap him up.

He spent six months in Turkey before returning to Bordeaux – but yesterday he made headlines for completely different reasons.

Faubert has played once for France. He wore the number 10 shirt in that game, the first man to do so after Zinedine Zidane retired, and he scored in the final minute to ensure France won 2-1 against Bosnia-Herzegovina.

He never received a call-up to France again, despite his excellent debut.

He has since been asked to play for Algeria, which he rejected, but yesterday he played for his second international team – Martinique.

The Caribbean nation are not currently affiliated so Faubert can play for them without any messy paperwork, and he did just that yesterday, in a 1-1 draw with Curacao in Caribbean Cup qualifying.

Not only did he play, but he scored, meaning he has currently played one and scored one for two different international teams.

Now that is some record.

For more: http://hereisthecity.com/en-gb/2014/10/11/61m-former-west-ham-player-scores-on-international-debut-again/

 

Cayman Islands cancer awareness run attracts hundreds

Hundreds of persons in the Cayman Islands turned out to support the annual Brenda Tibbetts-Lund Memorial 5K walk/run was staged by the Lions Club of Tropical Gardens in Grand Cayman over the weekend.

The run/walks on Saturday were at North Side from the Kaibo to LIME Exchange and back. On Sunday it was from the Holiday Inn Resort to the end of Safehaven Road and back.

Prizes on Sunday included a round-trip ticket to Tampa donated by Cayman Airways.

Money raised from walk/run registrations, sponsorships and the sale of pink items will go towards the cost of mammograms.

Call for Proposals: Conservation of Caribbean Hawksbill Turtles

From Repeating Islands

The U.S. National Fish and Wildlife Foundation (NFWF) has developed a 10-year strategy to improve the recovery of seven sea turtle populations in the Western Hemisphere. They are now extending grants for researchers—Sea Turtles Program Spring 2015—focusing on conservation of Caribbean Hawksbill turtles in selected coastal zones of the Bahamas, Dominican Republic and Haiti, Barbados, the Caribbean coast of Mexico, and the U.S. Virgin Islands. The deadline for pre-proposal applications is October 20, 2014 and the full proposal due date (by invitation only) is December 8, 2014.

The program is open to U.S. nonprofit 501(c) organizations; U.S. federal government agencies; state government agencies; local governments; municipal governments; Indian tribes; educational institutions; businesses; unincorporated individuals; and international organizations. Most grants will range from US$50 thousand to US$300 thousand. A minimum of a 1:1 match of cash and/or in-kind services is required.

Key conservation strategies for this program include:

Reduce incidental capture in fishing gear – support incentive-based approaches for the development and implementation of turtle-friendly fishing gear and practices;

Reduce direct exploitation of adult turtles – create incentives to reduce or eliminate poaching, hunting and directed fishing of sea turtles; and

Reduce or eliminate direct exploitation of sea turtle eggs – support increased nest protection through law enforcement, development of alternative livelihoods for poachers, reduction of feral dogs and other nest predators, and improve outreach and education to local communities.

For more information, all guidelines and application forms, see http://www.nfwf.org/seaturtles/Pages/spring2015rfp.aspx#.VDmVhfk7uFy

For more: http://repeatingislands.com/2014/10/11/call-for-proposals-conservation-of-caribbean-hawksbill-turtles/

 

Woman bringing cocaine into Cayman Islands in hammocks gets 12 year jail sentence

Kenecia Millwood, 24, was sentenced on Friday (10) for importation of more than six pounds of cocaine that was concealed in the wood frames of three hammocks.

Justice Ingrid Mangatal said in sentencing Millwood she had considered the defendant’s level of blame and the the large amount of cocaine had the potential to cause immense harm to these islands.

A jury of five women and two men found the defendant guilty on Sept. 25th.

 

Caribbean Remittances Grew By Five Percent – World Bank

From African Globe

AFRICANGLOBE – The World Bank says remittances by international migrants from the Caribbean and other developing countries are on course for strong growth this year.

The bank also says at the same time forced migration due to violence and conflict has reached unprecedented levels.

The World Bank in its latest publication said remittances to developing countries are expected to reach US$435 billion this year, an increase of five percent over 2013.

It said remittances to developing countries will continue climbing in the medium term, reaching an estimated US$454 billion in 2015.

The report says remittance flows to the Latin America and the Caribbean (LAC) region are “likely to bounce back this year, following a weak 2013”.

It says that remittances to the region are expected to reach US$64 billion increase by five per cent this year, compared to one per cent last year.

The World Bank said the figure should rise to US$67 billion in 2015.

Global remittances, including those to high-income countries, are estimated at US$582 billion this year, rising to US$608 billion next year.

‘Remittances remain an especially important and stable source of private inflows to developing countries, as they bring in large amounts of foreign currency that help sustain the balance of payments,’ the report stated.

It says that, in 2013, remittances were significantly higher than foreign direct investment (FDI) to developing countries and were three times larger than official development assistance.

For more: http://www.africanglobe.net/business/caribbean-remittances-grew-percent-world-bank/

 

QU Women’s golf finishes tied for 11th at Rutgers Invitational; Ribbins, Scola tie for 26th

From Quinnipia Bobcats

The Quinnipiac University women’s golf team tied for 11th out of 17 teams at the 2014 Rutgers Invitational in Sommerset, New Jersey. Sophomores Nicole Scola (Westerly, Rhode Island) and Emily Ribbins (Grand Cayman, Cayman Islands) both tied for 26th out of 90 golfers in the tournament.

Ribbins matched her first-day score, shooting an identical 80 on the second day to finish at 160 (+16) for a career-best day. Ribbins previous career best came at last year’s St. John Invitational when she carded a 163. Senior captain Jenn Whaley (Farmington, Connecticut) improved by three strokes from her first day score, carding an 80 for a combined 163 (+21) for a tie of 41st place.

Alexa Gentile (Avon, Connecticut) shot an 85 to go-along with an 82 from Friday for a two-day 165 and a tie of 56th place. Freshman Estefania Morales (Caracas, ) shot a 90 to finish at 178 for a tie of 86th for the weekend.

LIU-Brooklyn took first place, followed by host Rutgers, Saint Francis, Penn and St. John’s to round-out the field’s top five spots. Albany and Lehigh slid-in in front of Fairleigh Dickinson and Wagner, who tied for eighth, and Hofstra in 10th place. Central Connecticut and Quinnipiac split 11th place, followed by Dartmouth, Monmouth, Fairfield, Sacred Heart and St. Francis (N.Y.).

Quinnipiac is back in action when it hosts the Quinnipiac Classic on Oct. 20-21 at TPC River Highlands in Cromwell, Conn.

From http://www.quinnipiacbobcats.com/sports/wgolf/2014-15/releases/20141011eek0fh

 

Caribbean players continue to protest

From The Week

The West Indies team might have put off its ‘strike’ plan as of now, but the players continued to protest against the payment dispute with the West Indies Players Association (WIPA) by wearing black armbands in the second One-day International against India.

The Dwayne Bravo-led side had threatened to pull out of the five-match ODI series before the opening match in Kochi but after a 124-run resounding victory at the Nehru Stadium and with some intervention by the BCCI, the players have now decided to carry on with the series.

Even the West Indies Cricket Board (WICB) thanked the BCCI and lauded the players for not only acting wisely but also proving their worth by humbling a strong India ODI side in their own backyard.

Bravo and company had demanded WIPA president Wavell Hinds’ resignation along with other officials because of conflict of interest regarding payment issues.

In a letter to Hinds, Bravo said that the players have lost confidence in the president because of the Memorandum of Understanding he signed with the WICB on their behalf in which WIPA agreed to massive pay cuts.

In response, Hinds explained his position in a letter to Bravo.

The maroon brigade is now on course to play the remaining three ODIs, one-off Twenty20 International and three Test matches.

For more: http://week.manoramaonline.com/Cgi-bin/MMOnline.dll/portal/ep/theWeekContent.do?programId=1073754897&contentId=17735856

 

Cayman Islands referee appointed to FIFA’s referee committee

In a release from Cayman Islands Football Association (CIFA) it has announced Caymanian Alfredo Whittaker, who has spent the last two years at CONCACAF’s referee department creating theoretical and technical programmes to improve the game will join the FIFA team, which appoints referees for international competition, develops best practices and standards for worldwide referees and oversees the laws of the game as it relates to officiating.

“I am excited to join FIFA’s team and continue to serve the game at the highest level,” Whittaker said. “My appointment is not only important to me but to my confederation. I am sure our work will advance refereeing in CONCACAF. “We are experiencing great results in officiating. This is because of the commitment and determination of our President Jeffrey and General Secretary Enrique Sanz in increasing the quality and numbers of officials. My concentration is development throughout the regions.”

Alfredo’s appointment is testament to the commitment he has shown to the game and the region,” said Cayman Islands Football First Vice President Bruce Blake. “His involvement with the FIFA referees’ committee can only benefit referees in the Cayman Islands and the region.”

Whittaker has spent over 40 years involvement in Cayman’s football as a player, official and administrator.

 

Guyana National Drama Festival starts Tuesday (14)

From Stabroek News

The Republic of Guyana’s annual National Drama Festival (NDF) will take to the stage of the National Cultural Centre for the fourth time starting this Tuesday and running from October 14-22. As it has proven itself in the past year or two, this is a feast of plays demonstrating variety, with some very high standards, and what can be called national representation, with exhibits from stage professionals to amateur beginners and schools. This, and other characteristics, make it both unique and important among theatre festivals in the Caribbean.

This NDF, established in 2011, is presented by the Ministry of Culture, Youth and Sport in collaboration with Digicel. It is a performance of dramatic plays of all types and different levels drawn from a range of geographical areas of Guyana, as well as a variety of dramatists. Plays and/or productions are coming from the leading professional companies and groups; other groups of players; individuals, some of whom are leading Guyanese actors and directors; the National School of Drama; various youth groups and secondary schools.   It is an innovative stand-out among Caribbean festivals, and historically important.

Guyana can count its achievements in Caribbean theatre. The country tends to lag behind the regional leaders in many areas of theatrical trends and development. One such may be technological proficiency. Besides that, most of the crucial changes, the frontier advancements and Caribbean theatrical types reach Guyana several years after they have taken root elsewhere. Guyana’s theatre remains very conservative.

For more: http://www.stabroeknews.com/2014/features/10/12/national-drama-festival-starts-tuesday/

 

17th century Pirate City in the Caribbean

By Floro Mercene From Tempo

Although Boston had a larger population, Port Royal was arguably the wealthiest from the slave trade, slave labor in plantations, and the money that the pirates brought in from their looting forays against the Spanish. It was the most important port city in all of English America by the late 1600s.

A building boom paralleled the town’s population growth. Increasing wealth generated by legitimate and illegitimate trade allowed constructing impressive brick structures modeled after prevailing English building styles. Many buildings in Port Royal were “built with colored Bricks, and beautified with Balconies” after the modern way of building in London. By 1688, buildings were mainly four story high to accommodate increasing inhabitants, and with cellars, tiled roofs, sash windows and had large shops and store houses attached. Unlike the other English colonies, Jamaica used coins for currency instead of commodity exchange. At its height in 1692, population estimates vary from 6500 to 10,000. With approximately 2000 buildings densely packed into 51 acres.

Port Royal’s glory days suddenly came to an end when a massive earthquake, estimated at a 7.5 magnitude, hit the island on the morning of June 7, 1692. The city, largely built over sand, suffered instantly from liquefaction, with buildings, roads, and citizens literally sank into the ground. Geysers erupted from the earth, buildings collapsed, then finally the city was hit by a giant tsunami, dragging what had not been destroyed out to sea.

Nearest to the water’s edge, the streets filled with warehouses were the first to go. The cemetery sank while the church tower crumbled to the ground. One by one, the Forts disappeared under the rising waves. Within minutes, two-thirds of the city disappeared under water killing thousands.

For more: http://www.tempo.com.ph/2014/10/17th-century-pirate-city-in-the-caribbean-2/#.VDvvPb5-RIc

 

Hyatt continues Caribbean growth with new property in San Juan

From Boarding Area

Last week Hyatt announced the opening of the third property in San Juan, Puerto Rico in less than a year when the Hyatt House San Juan became Puerto Rico’s first extended stay hotel as well as the brand’s first Hyatt House hotel outside of the continental United States.

The 126-room hotel offers studio and 1-bedroom suites is in Miramar neighborhood, and Hyatt says most rooms have “gorgeous views of the Atlantic Ocean and San Juan Bay”. According to the press release, “Hyatt House San Juan is conveniently located minutes away from the Puerto Rico Convention Center, Financial District in Hato Rey, Isla Grande Airport, and the Port of San Juan. The hotel is also just minutes from famous attractions, beautiful beaches, amazing golf courses, and landmarks, including Old San Juan, the Condado district, San Juan Central Park, and Plaza Las Américas.”

For more: http://pointsmilesandmartinis.boardingarea.com/2014/10/hyatt-opens-3rd-property-san-juan-pr-less-year/#sthash.ZvxSgNUu.dpuf

 

New International tourism Expo coming to the Caribbean

From Caribbean Journal

The Caribbean will soon be home to its first-ever international tourism expo.

Puerto Rico’s Tourism Company ha sannounced the Expo de Turismo Internacional, the first-ever conference of its kind in the region, will take place at the Puerto Rico Convention Center May 13-16.

The tourism expo will feature pavilions from the Caribbean and beyond, showcasing “the beauty, sports, nature, adventure, and gastronomy experiences available throughout the Caribbean and beyond,” according to the Tourism Company.

“In planning for this event and with input from local and regional organizations such as the , the Puerto Rico Hotel & Tourism Association and ASTA and APAV,” said Ingrid Rivera Rocafort, executive director of the Puerto Rico Tourism Company. “We are confident that this event has the potential to be a mainstay on the international calendar of tourism events.”

Rivera said that, as the US travel market’s top-selling destination, “the Caribbean has long required an annual event tailored specifically to travel agents.”

“The fact that Puerto Rico acts as a hub for the Caribbean with air and sea access to most islands, makes it an ideal location for this inaugural tourism expo,” she said.

For more: http://www.caribjournal.com/2014/10/13/new-international-tourism-expo-coming-to-the-caribbean/

 

Christopher Columbus gave first documented hurricane warning

By Bill Read, KPRC Local 2 Hurricane Expert From Click 2 Houston

During Christopher Columbus’ fourth voyage to the new world, the explorer added another first to his amazing life story during the summer of 1502– he gave the first documented hurricane warning.

He was sailing just off the coast of the island of Hispaniola when he recognized the signs of an approaching hurricane. Large waves were crashing on the island shores off the Caribbean.

Normally, the near-constant trade winds of the tropics produced a steady and predictable wave action. Also, thick high cirrus clouds were overspreading the island from the east. He had learned from previous voyages that these two observations signified the approach of a hurricane.

Columbus needed safe harbor for his fleet and asked the Spanish Governor of Hispaniola, Don Nicolas de Orevando, for permission to sail his fleet into the port of Santo Domingo, but was denied access.   He then set sail for protected locations south of the island.

Before leaving he warned Governor Orevando not to sail a fleet of 30 ships bound for Spain with gold and slaves, but to stay in port until the hurricane passed. Orevando ridiculed the warning and sent the fleet out to sea. The inevitable happened. The force of the hurricane destroyed all but one ship in the fleet. At least 500 men lost their lives.

Columbus and his fleet of four vessels survived the storm on the lee side of the island.

Thus began mankind’s somewhat checkered history of denying or ignoring warnings of pending disaster and paying the consequences.

For more: http://www.click2houston.com/news/bill-read-christopher-columbus-gave-first-documented-hurricane-warning/29085198

 

Ordered to pay Exxon $2B, Venezuela claims victory

By Susan Beck, The Litigation Daily

Although an international arbitration panel ordered Venezuela to pay more than $2 billion to subsidiaries of Exxon Mobil Corp., Venezuela’s lead lawyer at Curtis, Mallet-Prevost, Colt & Mosle is crowing about the victory. The award came after a seven-year arbitration brought by Exxon Mobil to recover damages for nationalized oil assets.

On Thursday, the World Bank’s International Centre for Settlement of Investment Disputes announced the award in a 138-page ruling. The panel agreed with Venezuela that the nationalization of the facilities was lawful, but awarded Exxon Mobil damages for the expropriated property as required by international treaty. The award, however, will be reduced by $747 million, which Exxon Mobil received in a separate arbitration with Venezuela’s state-oil company Petróleos de Venezuela, or Pdvsa, in 2011 before the International Chamber of Commerce.

“It’s clearly a major victory for the government [of Venezuela] and a major defeat for Exxon,” says George Kahale III, the chairman of Curtis.

According to Kahale, Exxon Mobil was seeking as much as $20 billion. “While we have questions about parts of the award, what this case shows is that this [arbitration] was entirely a seven-year waste of time. Exxon could have gotten this amount through negotiations in 2007,” he says.

Exxon Mobil is represented by a Covington & Burling team lead by Thomas Cubbage and Miguel López Forastier. The firm declined to comment, but Exxon Mobil issued a statement. “The decision confirms that the Venezuelan government failed to provide fair compensation for expropriated assets,” it said. “ExxonMobil recognizes the sovereignty of all nations and, while clearly not a desirable outcome, accepts Venezuela’s legal right to expropriate the assets of our affiliates subject to compensation at fair market value.”

Exxon Mobil contests that it sought $20 billion, but it fell far short of the amount it says it wanted, which ranged from $4.5 billion to $8 billion. The earlier ICC award for $747 million was also considered a disappointment for Exxon Mobil, which was seeking $7 billion, according to the Wall Street Journal.

For a more detailed discussion of Thursday’s ruling, see Luke Eric Peterson’s post at the Investment Arbitration Reporter (subscription required).

For more: http://www.litigationdaily.com/id=1202673100755/Ordered-To-Pay-Exxon-2B-Venezuela-Claims-Victory#ixzz3G2cGDpVQ

 

IMF predicts economic growth for the Caribbean in 2015

From St Lucia News

The International Monetary Fund (IMF) has predicted that most of the Caribbean region will experience economic growth in 2015.

This was revealed at the IMF’s biannual World Economic Outlook meeting held Tuesday last.

Growth in the region is expected to be an average of 1.3 per cent for 2014, the lowest rate since 2009 and 1.2 percentage points below the April 2014 period.

The IMF predicted that regional growth will pick up to 2.2 per cent in 2015, again 0.7 percentage points weaker than previously projected.

It also predicts that St. Lucia will suffer contraction of 1.1 percent in 2014, before bouncing back to expand by 1.4 percent next year.

Meanwhile, the Dominican Republic is once again projected to lead the region with a GDP growth rate of 4.2 percent.

Guyana is projected to be second in 2015 with a 3.8 percent growth rate. Haiti is also predicted to record growth at 3.7 percent in 2015.

The IMF forecasts a 0.6 percent contraction this year in Barbados, followed by weak growth of 0.5 percent in 2015.

Dominica will grow 1.4 percent this year and 1.8 percent in 2015, according to the IMF.

For more: http://www.stlucianewsonline.com/imf-predicts-economic-growth-for-the-caribbean-in-2015/#sthash.bJj671Hy.dpuf

 

HBO debuts “Getting On” in the Caribbean

The original comedy series, premiering October 12, takes a look at the dysfunctional staff of a struggling hospital

Miami, FL– HBO announced the premiere of the original series Getting On, which follows the daily lives of overworked nurses and doctors as they struggle with the darkly comic realities of tending compassionately to their elderly patients in the Billy Barnes Extended Care unit of Mt. Palms Hospital in Long Beach, California. Adapted by Mark V. Olsen and Will Scheffer (co-creators of the acclaimed HBO series Big Love) from the BBC series of the same name, the comedy blends outrageous humor with unexpected moments of tenderness. The first two episodes premiere on Sunday, October 12 in the Caribbean, episodes three and four the following week on Oct. 19, and the final two episodes of the season on Oct. 26.

While dealing with the challenges of a health-care bureaucracy in need of an overhaul, this ragtag crew attempts to serve their charges under less-than-ideal circumstances, further complicated by conflicting agendas, both professional and personal. Nurse DiDi (Niecy Nash) is the no-nonsense newbie who spends her first day on the job being reprimanded for cleaning up unidentified feces left in the lounge. Her easy rapport with patients should be an example to her superiors, but isn’t. Unit veteran Nurse Dawn (Alex Borstein) is tasked with training DiDi, but winds up distracted from her job by obsessing over a budding relationship with male Supervising Nurse Patsy (Mel Rodriguez) – a new hire who tries to implement a Disney-inspired, customer-centric work culture, while fending off questions about his sexual orientation.

Disgruntled Dr. Jenna James (Laurie Metcalf), appointed director of the ward after having a meltdown at the hospital proper, once hoped to become a medical-research star but continues her above-it-all temper tantrums, despite being given a fresh start. Dr. James and Nurse Patsy butt heads along the way, particularly when his surveys reveal that the many of the staff are underperforming in this rundown, red-tape-filled hospital offshoot.

Apart from the aforementioned talent, recurring cast members include Molly Shannon (HBO’s Enlightened), Joel Johnstone (HBO’s The Newsroom) and Mark Harelik, with guest stars Daniel Stern, Harry Dean Stanton, June Squibb and Irma P. Hall.

Getting On is executive produced by Mark V. Olsen, Will Scheffer, Jane Tranter (HBO’s Rome), Julie Gardner and Geoff Atkinson, along with Jo Brand, Joanna Scanlan and Vicki Pepperdine, who were the creators and stars of the original BBC version; co-executive produced by Lisa Bellomo and Courtney Conte; and produced by Chrisann Verges.

 

 

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