Daily Brief - Monday 4th September, 2017

NEWS

Stop Playing Politics

The sad saga of the St Michael’s Home for Boys continues. It has been more than a month since Newsday ventured into the institution at Western Main Road, Diego Martin. The paper exposed deplorable conditions, dilapidated grounds and equipment, and most disturbingly the neglect of the youths at the home. Since the report, not much has changed. The facility is still unkempt, security lax, and lackadaisical staff continue to leave the children unsupervised. Newsday sought to find out from the people directly involved with the operations of the home, who is truly responsible for the home falling into such a grim state. Ultimately, bureaucratic gridlock and internal politics have caused several people who have not been doing their jobs, to stay in key positions while the home slowly deteriorates. Read more here

Region braces as Irma approaches

People across the Caribbean region are carefully following the the progress of Hurricane Irma, which is due to make its way north of the Caribbean islands heading towards the east coast of the United States. According to a report on AccuWeather yesterday, meteorologists there believe that Irma, currently a category 3 hurricane, is a serious threat to the Caribbean and poses an imminent risk to the northernmost Leeward Islands. Rain and gusty winds may start as early as tomorrow (Tuesday). Read more here

2001 triple murder in Cascade

While the St Ann’s/Cascade area is not immune to acts of violence, with homicides recorded in the area last year, the most prolific matter remains the 2001 triple murder of British national John Cropper, 59; his mother-in-law Maggie Lee, 83; and sister-in-law Lynette Lithgow-Pearson, 51, a former BBC television broadcaster. Read more here

 

POLITICS

Garcia: They would look like fools

For yet another year, the Malabar Government Primary School would have a delayed reopening for the new school term. At least that is what some parents of the school believe. The Arima school which has had several issues with the construction of a new building since before 2010, is now facing electrical problems. In 2012 the school was closed for the new term because parents did not want their children on the compound as the buildings were dilapidated. The Education Ministry constructed and installed pre-engineered classrooms which housed infants to standard three students while standards four and five remained in the concrete structure of the original school. Read more here

 

BUSINESS

Little Damage Reported After Earthquake Hits Haiti

One house was reportedly damaged, but there were no injuries or loss of life when a 4.3 magnitude earthquake occurred in Haiti over the weekend. According to the United States Geological Survey, the quake occurred around 4:14 p.m. local time on Saturday, 11 km south-west of Thomonde and 13 km northeast of Mirebalais, in the Central Plateau department. Reports out of Haiti indicated that it was felt in at least three departments, including several cities in the West and Artibonite. Read more here

Minister: T&T still attractive to foreign investors

The launch of Crowe Horwath International’s accounting network in T&T shows that foreign investors remain interested in investing in the country said Trade Minister Paula Gopee-Scoon. “The establishment of a presence in both islands reflects the strength of the domestic business environment, the country’s stable political system and the human resource capabilities residing in this country,” Gopee-Scoon said. She was speaking at the Crowe Horwath International’s “Newest Expansion in the Caribbean” Breakfast Launch on Tuesday. Scoon noted that: “T&T’s sustained ability to attract companies in the services and other sectors reflects a robust foundation upon which the eighth largest global accounting network will flourish as it promotes its suite of audit, tax and advisory services”. Read more here

SFC advances, CIF slips

This week, we at Bourse review the six-month results for the period ended June 2017 for Sagicor Financial Corporation Limited (SFC) and update investors with on the CLICO Investment Fund (CIF). SFC recorded growth in earnings over the period, with its share price advancing 7.4 per cent year to date. The unit price of CIF, on the other hand, has slipped 8.5 per cent year-to-date, with much of the decline taking place in the recent few weeks. Read more here

 

REGIONAL

Cash For Guns - Holness Announces Reward Programme, Moratorium On Weapons Finds In Mount Salem ZOSO

Prime Minister Andrew Holness yesterday announced a massive national firearm recovery reward programme as well as a five-day grace period for illegal weapons found on premises in the Mount Salem community, which was last Friday declared Jamaica's first zone of special operations (ZOSO). "This is being done to encourage the citizens to work with the security forces and tell them where the guns are," said Holness, who toured Mount Salem before hosting a press conference at which he spoke on a range of ZOSO-related matters. Of the moratorium, he said, "After the five days, the police will return to the strict application of the law." Read more here

 

INTERNATIONAL

Firefighters gaining in battle against largest blaze in Los Angeles history

Firefighters gained ground Sunday in their battle against the La Tuna brush fire near Burbank, California, in Los Angeles County. Crews had the 7,000-acre blaze under 30% containment by Sunday evening -- up from 15% containment earlier in the day. And Interstate 210, a major traffic artery in Los Angeles, was reopened Sunday after being partially closed since Friday because of the La Tuna fire. Read more here

North Korea preparing more missile launches, says South

South Korea says it has seen indications that the North is preparing more missile launches, possibly an intercontinental ballistic missile. It said it was strengthening its controversial US-made Thaad missile defence system after the North's test of a nuclear bomb at the weekend. The South has carried out live-fire exercises in response to the test. The US has warned that any threat to itself or its allies will be met with a "massive military response". The North says it tested a hydrogen bomb that can fit on to a long-range missile. Pyongyang has repeatedly defied UN sanctions and international pressure by developing nuclear weapons and testing missiles, and the provocations have only intensified. Read more here

4th September 2017

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