May 8, 2021

CDEMA European Union have launched the 11th EDF Natural Disaster Facility in the CARIFORUM Programme

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Saint Maarten, 4 December 2019. The Caribbean Disaster Emergency Management Agency (CDEMA) along with the European Union have launched the 11th EDF Natural Disaster Facility in the CARIFORUM Programme. This initiative aims to contribute to the reduction of the vulnerability to disaster risks, and to promote the sustainable development from the countries of this region. The […]

Assessing vulnerability to climate change in Montserrat’s fisheries sector

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By Terrence Phillips Caribbean Natural Resources Institute (CANARI) Tuesday, February 20, 2018 — Over the next seven days, the Caribbean Natural Resources Institute (CANARI) and the Ministry of Agriculture, Trade, Housing, Lands and Environment (MATHLE) will be working with stakeholders from the public sector, civil society, including fisherfolk and their organisations, and the private sector […]

Former Nassau resort owner sues Chinese contractor over ‘Massive Fraud’

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From WN The original owner of the Baha Mar Resort, BML Properties Ltd, has filed a $2.25 billion lawsuit alleging a “massive fraud” by the Chinese contractor of the luxury hotel and casino project in Nassau, the Bahamas, that opened its doors in April after years of delays, Reuters reports. The 259-page complaint, filed in […]

Bahamas PM accused of misleading public on megaresort deal

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By Royston Jones Jr. Nassau Guardian Staff Reporter From Caribbean News Now NASSAU, Bahamas — Opposition Free National Movement (FNM) leader Dr Hubert Minnis on Thursday accused The Bahamas government of misleading the public to have Bahamians believe that all contractors who worked on the bankrupt Baha Mar megaresort project would receive some, if not all, […]

Bahamas PM dismisses Chinese citizenship rumours

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By Juan McCartney Nassau Guardian Broadcast Editor From caribbean News Now NASSAU, Bahamas — Prime Minister Perry Christie on Monday dismissed as false, claims that the Bahamas government has agreed to the “sale or grant of 500 Bahamian citizenships to Chinese investors in connection with the Baha Mar project”. Christie issued a statement on Monday night […]

Was PM misled on Baha Mar? Chinese Builder knew it was likely to miss deadline

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By NEIL HARTNELL  Tribune Business Editor From Tribune 242 WEEKS after Baha Mar’s contractor assured Prime Minister Perry Christie and the developer, Sarkis Izmirlian, that all was on track for a scheduled opening at the end of March 2015, the mega-resort’s contractor knew the $3.5 billion project was likely to miss the deadline. In a […]

Bahamas mega resort will be completed, says Chinese contractor

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By Travis Cartwright-Carroll Nassau Guardian Staff Reporter From Caribbean News Now NASSAU, Bahamas — Bahamas Prime Minister Perry Christie said the chairman of China State Construction Engineering Corporation (CSCEC) has assured him that bankrupt multibillion dollar resort Baha Mar will be completed and opened early. “Despite the delays which have occurred with its opening, I […]

IRS applies the §956 indirect investment rule to a partnership loan [Cayman Islands CFC]

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By Lowell D. Yoder, Esq. McDermott Will & Emery, Chicago, IL From Newly Enhanced! Premier International Tax Library Monday, October 6, 2014 – The IRS recently issued a Chief Counsel Advice (CCA) applying the §956 indirect investment rule to a loan made by a foreign partnership to one of its CFC partners, which used the […]