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In The Hands of Politicians: Scotiabank Economics Global Outlook

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#Toronto, ON – April 13, 2019 – CanadaIGlobal growth is slowing as the economy works through a soft patch. Early signs suggest the worst of the slowdown might be behind us. The expansion is in a delicate situation. Investors are nervous and maintaining confidence is key to a continued expansion. The global economy is particularly vulnerable to policy missteps, notably President Trump’s continued threats to disrupt US trade flows.

“While we continue to think the soft patch we are going through will be temporary, the global economy remains in a delicate position,” said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. “At this point in the cycle, confidence is key to sustaining the expansion, and Trump’s misguided efforts to make America great risk achieving the opposite.”

Highlights of Scotiabank’s Global Outlook include:

·       Canada: Above-potential growth to resume in Q2 as the factors contributing to the soft patch in Q4 2018 and Q1 2019 are reversing.Growth is expected to slow modestly to 1.6% during 2019 before rising to 2.1% in 2020.

·       United States: A gradual US GDP growth slowdown (2.9%/2.4%/1.9% in 2018/19/20) is expected on the back of the waning boost from fiscal stimulus.

·       United Kingdom: While we expect that the UK and the EU will avoid a hard Brexit, we forecast that economic growth in Britain will remain sluggish in the near-term amid lingering geopolitical uncertainty and as the economy adjusts to a post-Brexit world.

·       Eurozone: Real GDP growth will slow in 2019 owing to global trade and geopolitical uncertainty as well as certain transitory factors impacting the European industrial sector. Domestic demand in the euro bloc should, however, remain resilient despite external headwinds.

·       Mexico: heightened uncertainty is leading to slower growth, with GDP expected to rise by 1.4% in 2019.

·       China: A gradual deceleration is underway, but recent policy measures to raise demand are starting to bear fruit.

·       Commodities: Healthy global  economic  growth  provides  a  solid  demand  backdrop  for commodities  through  2020,  allowing  fundamentals  to  reassert commodity-specific  price  paths  over  the  coming  years

Read Scotiabank’s Global Outlook online here.

Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues. Follow this research on Twitter at @ScotiaEconomics.

Press Release: Scotiabank

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Tim and Henry to the Rescue: A Harrowing Search and Rescue Mission Highlights Need for Marine Vessel in Grand Turk

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#TurksandCaicos, July 12, 2024 – At approximately 2:45 pm on July 12th, a 911 emergency call came in from the police department in Grand Turk, informing Ed Forbes of a distressing situation. Four young adult tourists had gone out on paddle boards off Cork Tree Beach in Grand Turk, when one of them fell off the board and could not get back on. Evidently, they underestimated the wind speed and their own brute strength.

Ed Forbes, co-owner of Exclusive Escapes Grand Turk, played a pivotal role in coordinating the rescue. Responding swiftly to the emergency call, he immediately reached out to the local search and rescue team. His prompt actions and calm demeanor were instrumental in mobilizing the necessary resources.

Within 20 minutes or so, Tim from Emerald Escapes, along with Henry and Kindry from Blue Water Divers, were on the scene. Their experience and swift response were crucial in ensuring the safety of the stranded paddleboarders. Working seamlessly together, they managed to locate and rescue all four individuals without any need for medical attention.

However, this incident also underscores a critical issue that has long plagued Grand Turk: the need for a dedicated marine vessel for search and rescue operations and cruise passengers incidents. Despite numerous promises made to concerned citizens over the years, this vital resource remains unavailable.

The swift response of Tim, Henry, and Kingdry highlights the community’s resilience and dedication, but it also brings to light the gaps in emergency preparedness that could be addressed with better equipment and support.

A dedicated marine vessel would significantly enhance the efficiency and safety of rescue operations, ensuring that responses to such emergencies are even more effective.

Ed Forbes
Concerned Citizen

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Invest TCI Opens New Office in Grand Turk

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PRESS RELEASE

 

Providenciales, Turks and Caicos Islands – July 11th, 2024—Invest Turks and Caicos Islands (Invest TCI) proudly announces the launch of its new office in Grand Turk, located at the Digicel Building on Old Airport Road. The grand opening of the new location occurred on Friday, July 5th, 2024, under the theme “Empowering Enterprises in the Capital.”

The establishment of the new office marks a significant milestone in Invest TCI’s growth strategy. The primary objective of the expansion is to provide enhanced services and support to the business community in Grand Turk. By increasing operational capacity, Invest TCI aims to facilitate sustained growth and success for enterprises within the country.  Beyond economic advancement, this initiative is set to yield substantial community benefits, including the creation of employment opportunities.

The grand opening ceremony attracted a diverse range of attendees, including recipients of the Micro Small and Medium Enterprises (MSME) programme, members of the business community, government officials, and Invest TCI staff. The event was moderated by Mr. Keno Forbes, Vice President of Investor Services. Special remarks were delivered by the Premier, Hon. Charles Washington Misick, who congratulated the InvestTCI team on their hard work and encouraged the community to take advantage of the benefits offered by the new office. He reiterated the government’s commitment to creating a supportive environment for businesses in the Turks and Caicos Islands.

Additional remarks were provided by Invest TCI Chairperson, Ms. Cindy Ewing; Business Advisor, Ms. Lashena Simmons; Director of the Business Support Unit, Mrs. Anissa Adderley; and Vice President of SME, Ms. Alexa Cooper. Their contributions highlighted the collaborative effort and dedication that have driven the success of Invest TCI initiatives.

Expressing her enthusiasm for the new office, Invest TCI CEO, Mrs. Angela Musgrove, stated, “Our vision is clear and compelling: to further empower Invest Turks and Caicos Islands, the agency offers incentives and support that enable more efficient and innovative practices. We are committed to helping businesses thrive, and in doing so, we are helping our entire community.”

Invest TCI recognizes the integral role that Micro, Small, and Medium Enterprises play in the economic and social development of the Turks and Caicos Islands. Through its Business Support Unit, the agency provides comprehensive support services to startups and existing entrepreneurs, ensuring they have the tools and resources to succeed.

The grand opening of the new office in Grand Turk represents a significant step forward in Invest TCI’s mission to support and empower businesses across the islands. The agency looks forward to fostering economic growth and development and ensuring a prosperous future for all.

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LAST AMERICAN TOURIST SENTENCED TO A FINE OF $1500.00 OR SIX MONTHS IMPRISONMENT IN DEFAULT, SHE’S ALSO SENTENCED TO 23 WEEKS IMPRISONMENT SUSPENDED FOR ONE YEAR

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(Thursday, July 11th, 2024) Turk and Caicos Islands – The last of five American tourists arrested in the Turks and Caicos Islands (TCI) for being in unlawful possession of  ammunition could finally leave the TCI today, Thursday, July 11th, 2024.

Sharitta Grier 46 pleaded guilty on 25th June to having two rounds of.38 ammunition in her bags, at the Howard Hamilton International Airport in Providenciales on Monday 13th May, 2024, when leaving the Turks and Caicos Islands after a surprised Mother’s Day vacation trip, from her daughters.

Her Ladyship The Hon. Ms. Tanya Lobban-Jackson agreed with senior defense counsel, Ms. Sheena Mair of F-Chambers that there are exceptional circumstancés in Grier’s case, by this, the court departed from the mandatory minimum sentence of twelve years imprisonment and ordered a lighter sentence of $1500.00 or Six months imprisonment if fine is not paid. She’s also sentenced to 23 weeks imprisonment suspended for one year.

Holding for the office of the Director of Public Prosecution via link was Dr. Angela Terry Brooks, deputy director of the DPP’S office.

The prosecution office did oppose exceptional circumstances and invited the court to impose the mandatory minimum sentence of twelve years imprisonment.

A more detailed court report will follow.

Wilkie Arthur
Court Correspondent
Eagle Legal News Media

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