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Beaches Boardwalk unwelcomed; Govt involved

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ProvidenciALES, 13 Jan 2016 – Government does not agree with the big boardwalk stretching from resort to into the water at Beaches Resort Villages and Spa; the Permanent Secretary of the Ministry of Infrastructure Housing and Planning in a media comment said that is why they are working to see the ordinance amended to give DEMA the power to authorize these structures before they get built or are set up on the beach.

Permanent Secretary, Susan Malcolm said the Planning Department is already working on the complaint which has spawned a number of rowdy strings on social media.

Beaches has been silent so far. This all unravels as DEMA reminds that midnight January 17 is the final day and hour to express yourself on the so far, controversial changes being proposed for the National Parks Ordinance.

There is contention on what areas are proposed to be taken out of the protection of being a National Park; there will be changes to fishing zones and rewording in the law as it relates to fishing zones.

There is a proposal to deputize DEMA officers so that they are able to issue tickets for harassment; there are questions on how guilt in these cases would be proven and there is also a challenge on the fact that DEMA, if the proposals go forward will be empowered with licensing vendors and operators in the National Parks.

Magnetic Media has been told of the concern that insurance is either very, very expensive or impossible to secure, yet the proposals for changes in the law call for all operators to have insurance.

It could mean many would be put out of business. There will be areas liberated so that visits would not be illegal; who knew that visiting the famous Three Mary Cays in North Caicos is not permitted by law.

You can visit the DEMA website to see the proposed changes and also give comment there.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

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UK Prime Minister Liz Truss forced to break tax cut promise

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By Dana Malcolm

Staff Writer

 

#UnitedKingdom, October 6, 2022 – A month into her tenure as Liz Truss, UK Prime Minister is going back on one of her biggest campaign promises to cut taxes for certain British citizens.

The tax cut in question had been part of the PMs signature campaign to ease the economic burden in the UK and one that she and former Finance Minister and candidate for Prime Minister Rishi Sunak had repeatedly clashed about. It would have seen the top earners, meaning anyone bringing in over £150 thousand a year, pay less money to the government.

Unfortunately the plan rocked Britain’s economy pushing the pound on par with the US dollar for the first time in years.

It is an economic blow, and at a time when families are already struggling with incredibly high energy bills and inflation. The money to find these tax cuts would have been borrowed an idea that her own party signaled it would vote against.  In addition to the economic impacts British citizens had also been strongly opposed to that facet of the economic plans.

In letting go of the tax cut, Truss said, “We get it and we have listened” the admission coming days after she defended it to the public.

Still there are parts of the larger package that will still go on which will afford tax cuts to lower income families and put a cap on energy costs.

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Bahamas News

Regressive recession looming, forces UN to issue Cease and Desist message to ‘big’ countries

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By Dana Malcolm

Staff Writer

 

October 6, 2022 – Central Banks in advanced nations must stop pushing up interest rates now or risk sending the globe into recession where developing nations suffer most according to the UN.

In the last several months, The U.S. Federal Reserve, the Bank of England and Bank of Canada have all spiked interest rates in an effort to control borrowing power, buying power and possibly push down inflation

A new report from the United Nations Conference on Trade and Development is warning them to cease and desist.

“The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies.”  It said, mincing no words, the agency described the potential global recession as ‘policy induced’ by developed countries.   And this recession could be worse than the 2008 crisis.  This is especially true for developing countries like those in the Caribbean.

“While all regions will be affected, alarm bells are ringing most for developing countries, many of which are edging closer to debt default.” The agency said.

And if it happens the recession could set developing nations back years in the struggle to increase their standards of living.

“As climate stress intensifies, so do losses and damage inside vulnerable economies that lack the fiscal space to deal with disasters let alone invest in their own long-term development— The global slowdown will further expose developing countries to a cascade of debt, health, and climate crises.”

If the globe proceeds as is the world will lose 20 percent of its income by and push developing economies growth rate below 3 percent which the UN says  is ‘insufficient for sustainable development’

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Caribbean News

Inaugural FinTech Conference on now in Barbados

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By Sherrica Thompson

Staff Writer

 

#Barbados, October 6, 2022 – Barbados is now hosting the first-ever global fintech conference in the Caribbean.

Over 300 delegates from across the globe and varying sectors within the industry will be attending the event. It began on Wednesday October 5, concluding October  7 and is being staged at the Hilton Barbados.

The Fintech Islands conference will feature renowned fintech leaders delivering key addresses and over 20 hours of curated content. The mandate of the event is to create a world-class event that will be a catalyst for the growth of the fintech ecosystem in the Caribbean.

One major highlight of the conference will be the welcome address by the Prime Minister of Barbados, Mia Mottley, who will also host an exclusive VIP meet and greet.

Some of the major themes of the event that are relevant to the context of the Caribbean venue are Financial Inclusion, Climate Fintech, Cryptocurrencies and Decentralised Finance and Embedded and Open Finance.

The event will have a range of speakers from founders, CEOs and fintech leaders from North America, Latin America (LATAM), Europe and Africa.

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