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Statement by The Right Hon Perry G Christie Prime Minister and Minister

first_img Bahamian music legend gunned down at home in Turks and Caicos Related Items:bahamas, perry christie, value added tax, wendy craigg Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppNassau, 05 Jan 2015 – Mrs. Wendy Craigg, having completed her statutory term as the Governor of the Central Bank of the Bahamas, demitted office on December 31st 2015. Of special historical significance, Mrs. Craigg was the first female to hold this vitally important post in our national financial system. Moreover, she served with utmost distinction throughout her 10 year tenure as Governor and indeed in her prior post as Deputy Central Bank Governor as well.It is particularly laudable that Mrs. Craigg, a career central banker, worked tirelessly to ensure that the regulatory infrastructure for banks and trust companies in The Bahamas conformed to evolving international standards and best practices. At the same time she also saw to it that the monetary stability of The Bahamas was maintained by the application of sound and sensible monetary policies and standards.I applaud Mrs. Craigg for these outstanding achievements and thank her for her many years of dedicated service and unblemished integrity at the helm of the Central Bank. She has been a great credit not only to the Central Bank but to our entire nation.I am pleased that Mrs. Craigg will continue to be of service to our nation as an Economic Policy Advisor in the Office of the Prime Minister.I would also like to congratulate the new incoming Governor of the Central Bank, Mr. John Rolle, who formerly held the post of Financial Secretary and as such was the administrative leader of the Ministry of Finance. Indeed Mr. Rolle played a pivotal role in the implementation of recent public finance reforms, most notably, the introduction of the Value Added Tax (VAT) regime. For that and for his many other sterling contributions to nation-building while at the Ministry of Finance, I thank Mr. Rolle most sincerely.In a very real sense, however, Mr. Rolle, in assuming his new role as the Governor of the Central Bank with immediate effect, is returning home. He, too, is a career central banker, and as such is ideally suited to his new appointment. I wish him well and predict that he will bring to this high office the same integrity, discipline, intellectual ability and expert grasp of monetary policy that distinguished his predecessor, Mrs. Wendy Craigg. Facebook Twitter Google+LinkedInPinterestWhatsApp Bi-lateral talks with Bahamas to resume, UK gives green light to high-level TCI delegation Former PM And Deputy PM Christie and Davis Deep in Water Debtlast_img read more

Notice to the Public

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Related Items: Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, July 26, 2017 – Provideniales – The command team of the Royal Turks and Caicos Islands Police Force are aware of numerous complaints in relation to obtaining Police records from the office at Police Headquarters on the Old Airport Road, Providenciales.Following an internal investigation there is a prima facie evidence of corrupt practices. Early this afternoon three (3) staff members were arrested and their homes searched under appropriate warrants.As a consequence of this police action, the Police Records Office has been immediately closed to allow a comprehensive collection of evidence and it will remain closed until at least Monday 31st July 2017.We are aware that there will be some members of the public who require to obtain an urgent Police record and persons who genuinely require an urgent record should attend at Police Headquarters between 9am and 12pm on Thursday 27th and Friday 28th July where every effort will be made to facilitate requests.We understand this will cause disruption but ask that only genuine urgent requests are made at this time until we put in place alternative arrangements. A further media statement will be made as soon as regular service is in place. Press Release: RTCIPFlast_img read more

Honda Acura recall 11M cars over Takata airbags for a second time

2019 Acura NSX review: Hitting its stride Tags If at first you don’t succeed, recall ’em again.Honda has issued a recall for approximately 1.1 million Honda and Acura vehicles. The list is positively huge, spanning a wide variety of cars both new and old, in varying body styles. The full list can be seen at the bottom of this article.The issue stems from the airbags. All the vehicles mentioned in this recall were part of an earlier wave of Takata airbag inflator replacements. These vehicles were repaired with desiccated Takata inflators that were not subject to recall. Those replacements, however, were eventually deemed faulty as well, after Honda received a report of a person being injured by shrapnel from a replacement inflator. Enlarge ImageIf you’re not sure if your call falls under the recall or not, give your dealer a ring — they can help you out. Honda Thankfully, a remedy can be had quickly. Honda has replacement parts at the ready — this time, from alternative sources — so owners need only head to the dealership, where technicians will swap out the faulty parts. To give you an idea of the Takata scandal’s scope, Honda alone has had to deal with 21 million recalled Takata inflators across 12.9 million Honda and Acura vehicles.The desiccant, or moisture-absorbing material, is central to understanding this deadly defect. The first batch of airbag inflators that spurred the recall used ammonium nitrate to inflate the airbag but lacked a desiccant. Over time, exposure to humidity could cause the inflator to fail, shooting out shrapnel instead of inflating the airbag as intended. There have been both deaths and injuries linked to these parts, which Takata sold to a significant number of automakers. Takata offered replacement parts with desiccants, but that clearly did not resolve the issue in its entirety. Thankfully, these new replacement parts come from different suppliers altogether.Here’s the full list of vehicles included in this latest recall:2002-2003 Acura 3.2TL2003 Acura 3.2CL2004-2006, 2009-2014 Acura TL2013-2016 Acura ILX2003-2006 Acura MDX2007-2016 Acura RDX2010-2013 Acura ZDX2001-2007, 2009 Honda Accord2001-2005 Honda Civic2002-2007, 2010-2011 Honda CR-V2003-2011 Honda Element2007 Honda Fit2002-2004 Honda Odyssey2003-2008 Honda Pilot2006-2014 Honda Ridgeline Originally published March 12 at 7:42 a.m. PT.Update, at 1:54 p.m. PT: Clarified the underlying issue with Takata’s airbag inflators. Recalls Honda Acura Honda Acura 2019 Nissan Maxima review: The ‘four-door sports car’ that isn’t Review • 2018 Honda Accord Hybrid: The efficient sedan that does it all, and well Comment 20 Photos 2019 Honda Accord: The midsize champ returns with minimal updates 1 More about 2018 Honda Accord Hybrid More From Roadshow Share your voice Car Industry Trucks SUVs Coupes Sedans 2020 Toyota Supra review: A solid sports car that’s rife with controversy read more

Standard Chartered Ruias create hurdle in ArcelorMittals India expansion

first_imgLakshmi Mittal, chief executive officer of ArcelorMittal.ReutersThe court suggested that the payment of Rs 420 billion by LN Mittal-led ArcelorMittal be distributed among financial and operational creditors in the ratio of 85:15. If the court’s suggestion is accepted, operational creditors will get Rs 46 billion as against their total claim of Rs 47 billion, while financial creditors such as Standard Chartered will have to take a big hit.Former promoters Ruia family’s last-minute offer to pay over Rs 540 billion to allow the steel company exit bankruptcy proceedings further complicated the case. Pointing towards continued litigation, last week after the NCLT order was delivered, an Essar Group spokesperson had said, “We continue to believe that our settlement proposal of Rs 543.9 billion is the most compelling one available to Essar Steel creditors and fulfils the IBC’s declared overriding objective of value maximisation, which has been established time and again by courts at all levels.” Prashant Ruia, Director, Essar Capital speaks during a news conference at the company’s headquarters in Mumbai, India August 21, 2017. REUTERS/Danish SiddiquiReutersStandard Chartered Bank and Prashant Ruia, member of Essar Steel promoter family, have filed separate appeals in the National Company Law Appellate Tribunal against the bankruptcy tribunal’s order last week, which awarded the steelmaker to ArcelorMittal. The British financial services giant is the third largest secured financial creditor of the beleaguered Essar Steel.The bank has requested the higher tribunal to quash the Ahmedabad bench of National Company Law Tribunal’s order that approved the Luxembourg-based steel company’s Rs 420 billion debt resolution plan for Essar Steel. Standard Chartered has also sought the rejection of the plan, The Economic Times reported. The bank has maintained that the implementation of ArcelorMittal’s plan will lead to its dues being curtailed to just Rs 600 million from the current outstanding amount of Rs 34.9 billion.Similarly, Prashant Ruia, a member of the suspended board, has decided to file an appeal to seek a stay on the resolution plan. An official appeal has not been filed yet as the written order of the Ahmedabad bench is still awaited. He has mentioned his intention to appeal before a two-member bench, headed by Chairman Justice S J Mukhopadhaya, which asked it to be listed after the NCLT posts its full written order. Ruia contends that members of the superseded board of the company should have been included in all creditor meetings that approved the plan. The argument draws parallels with the recent apex court judgement in the Ruchi Soya case, where the judge had ruled that resolution plans be shared with the suspended board members of the company.A Tricky AffairEssar Steel’s resolution has turned out to be one of the trickiest ones under the Insolvency and Bankruptcy Code, 2016 (IBC). The case has been dragging on for over 580 days as against the stipulated 270 days under the law due to multiple litigations by the former promoters, Standard Chartered bank and some operational creditors. Last week, NCLT had cleared the decks for Essar Steel’s acquisition by ArcelorMittal after mollifying the operational creditors through a larger payout from the resolution amount.last_img read more

iplay Offers Video Gamelike Playground Equipment

first_imgFor children of today’s generation, swings and slides don’t seem to cut it anymore—not when you have an Xbox and Playstation in your living room. In an attempt to curb the rising childhood obesity rates partially associated with indoor electronics, researchers in the UK have designed an outdoor playground unit based on the concepts of video games. Called i.play, or “intelligent play,” the electronic unit can make a high-tech addition to nearly any existing playground, says developer Playdale. Intended for children ages eight and above, as well as adults, wheelchair users and individuals with impaired hearing or vision, i.play encourages “stealth exercise”—exercise that feels like fun.The i.play unit consists of a hexagonal court with three curved bars that form the skeleton of a dome. Each bar has a high, low, and mid-positioned activity switch to encourage a whole body aerobic workout that helps build muscular strength, stamina, hand-eye coordination, reaction time, agility and flexibility.The i.play unit audibly tells a player when to activate a switch, an LED on the switch flashes, and the faster the player gets to the switch, the higher the score. Players activate the switch by pushing, pulling, pressing, spinning, turning, or stamping. Like many a video game, the game ends when a player loses three lives (by activating the wrong switch or moving too slow), or by completing all five levels, which is beating the game.The game can be played in groups as well as individually. For groups of up to six, each player gets a number. The first player, chosen by the system, makes a sequence of three switches. Then the i.play unit nominates the next player, who repeats the sequence. Once all the players have successfully repeated the sequence, another switch is added, etc.“The placement of activity switches is an important aspect of the design as we want to get users to perform movements requiring a large range of motion to progressively higher levels of physical exertion,” said i.play co-inventor Phil Hodgkins in a recent press release.The i.play system can also intelligently adjust to children’s performance, making the unit an alternative to team sports because it is competitive yet inclusive. i.play’s Web site notes an 11% decline in the number of young people playing sports at school, as well as a lack of cheap exercise options, that i.play aims to fill. Two i.play systems are already in use in Leicester and Barrow in Furness.Playdale developed i.play in conjunction with Progressive Sports Technologies, a spinout company from Loughborough University. Other features of the system include its fully solar-powered design, programmable software, and like a game console, multiple levels of difficulty and statistics that allow players to monitor their performance both during and after the game.And if that still doesn’t excite gamers, players can win a free iPod Shuffle in a monthly drawing for logging their scores on an online league table. Citation: i.play Offers Video Game-like Playground Equipment (2007, September 20) retrieved 18 August 2019 from https://phys.org/news/2007-09-iplay-video-game-like-playground-equipment.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. The i.play system combines interactive electronics with conventional playground equipment to encourage young people to exercise. Source: Playdale.last_img read more