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Scotia Bank: The CCC Statement

Scotia Bank

Statement on the sale of banking and insurance assets by the Bank of Nova Scotia to Republic Financial Holdings and Sagicor Financial Corporation.

The CARICOM Competition Commission (“the Commission”) was established by Article 171 of the Revised Treaty of Chaguaramas (“RTC”), with a mandate to promote and protect competition within the community.

The Commission in its monitoring of business activity in the CARICOM Single Market and Economy (CSME), has taken note of the announcement on 28th November 2018 by the Bank of Nova Scotia (“Scotiabank”) of its intended transaction to sell banking assets in nine (9) English and Dutch speaking countries in the Caribbean, namely,Anguilla, Antigua and Barbuda, Dominica, Grenada, Guyana, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Vincent & the Grenadines, to Republic Financial Holdings Ltd (“Republic Financial”) and life insurance operations in another two (2) countries (Jamaica and Trinidad and Tobago) to Sagicor Financial Corporation (“proposed acquisition”).

The Commission has further noted the concerns of bank customers and governments across the region regarding the proposed acquisition of Scotiabank by Republic Financial.

The Commission advises that it shall continue to monitor these developments in the banking and insurance sectors. Any impact to the community market by the proposed acquisitions will be assessed in accordance with the RTC.

The Commission takes this opportunity to highlight the need for strong national and regional competition rules and frameworks. Despite the need for these regulatory tools, the Commission stands ready to support the Member States of the CSME and financial sector regulators in analyzing the competition effects of the proposed acquisitions in their respective national or sub-regional jurisdictions.

As always, the Commission remains committed to a process that is fair and transparent in the determination of any regulatory matter where the interests of both business and consumers must be considered.

Justice Christopher Blackman
Chairman
CARICOM Competition Commission

World AIDS Day Health Fair

World Aids Day

OECS Launches Health Fair to commemorate World AIDS Day 2018.

OECS Launches Health Fair on November 30 to commemorate World AIDS Day 2018 which will be observed under the theme “Know your Status”.

2018 will mark 30 years of international commemoration of World AIDS Day which will be observed under the theme “Know your Status”.  As part of the sensitization activities held worldwide, the OECS Commission is organizing a Health Fair in collaboration with the United and Strong Association, STI Clinic, the St. Lucia Planned Parenthood Association, the Community Nursing Service, and the Bureau of Health Education of Saint-Lucia.

The one day event which aims to increase awareness of World AIDS Day, sensitize the general public and encourage testing for HIV will include multiple activities:

  • Testing for HIV And Syphilis
  • Condom Demonstration
  • Presentation of Sexually Transmitted Infections (STI)
  • Presentation on Gender Identity
  • Diabetes and Hypertensive Screening
  • Food portion Demonstration and Food sampling
  • Dietary Advise and Counseling
  • Health Education and Counselling

Staff of the OECS, staff and students of Sir Arthur Lewis Community College, and the general public are expected to attend.

WHO SHOULD ATTEND
The media is invited to attend.

WHEN
The event will be held on November 30, 2018.

WHERE
OECS Health Unit
Annius Building
Frank Johnson Avenue
The Morne
Castries

CONTACTS
Cleophas d’Auvergne
cleophas.dauvergne@oecs.int
(758) 458 1260

Eliza James
eliza.james@oecs.int
(758) 518 8219

 

NHT Funding $54M Bamboo Research Project

NHT
Senior General Manager of Construction and Development at National Housing Trust (NHT), Donald Moore.
NHT
Senior General Manager of Construction and Development at National Housing Trust (NHT), Donald Moore.

The National Housing Trust (NHT) is funding a $54-million bamboo research project, which will facilitate research on bamboo as a possible housing material.

The project, which is a collaborative endeavour with the Bamboo Industry Association of Jamaica (BIAJ), Bureau of Standards Jamaica, and the Planning Institute of Jamaica (PIOJ), is scheduled to start mid-2019.

Senior General Manager of Construction and Development at NHT, Donald Moore, told JIS News in a recent interview that the first phase of research will look at testing local strains of bamboo, and the second phase will concentrate on the construction of bamboo prototypes.

“The NHT has recently been focusing on research and development in housing, generally the use of different materials and approaches, because we want to reduce cost,” he noted.

He said that bamboo is used worldwide as a building product, and the NHT wants to join in on this global construction trend.

Mr. Moore shared that bamboo, which has high tensile strength, is stronger than steel and could be used in some construction by the NHT.

“We expect bamboo to be widely used. Persons can use bamboo to build their own homes once we are able to establish all the standards,” he pointed out.

Mr. Moore said that the use of local bamboo in housing construction will not only reduce the NHT’s construction costs but contribute to sustainable development.

“Most of our building products are imported, and if we can get some local resources being put in, it should benefit the economy,” he pointed out.

Mr. Moore told JIS News that if the project produces favourable results, the NHT is hoping to apply bamboo in all aspects of construction, including the production of building materials such as tile and dry wall.

Special Rapporteur on Disability appointed

Floyd Morris
Senator Dr. Floyd Morris, Director of the University of the West Indies (UWI) Centre for Disability Studies, University of the West Indies and CARICOM Special Rapporteur on Disability.

CARICOM Special Rapporteur on Disability appointed.

Floyd Morris
Senator Dr. Floyd Morris, Director of the University of the West Indies (UWI) Centre for Disability Studies, University of the West Indies and CARICOM Special Rapporteur on Disability.

The Caribbean Community (CARICOM) has appointed a Special Rapporteur on Disability, as it works towards an inclusive Region for persons with disabilities.  The Thirty-Fifth Meeting of the Council for Human and Social Development (COHSOD) – Health, in September 2018, endorsed the recommendation that Senator Dr. Floyd Morris be appointed to the position, and “urged Ministries of Health to facilitate the Special Rapporteur in the conduct of his duties at the national level”.

Dr. Morris is currently the Director of the University of the West Indies (UWI) Centre for Disability Studies, in Mona, Jamaica. The CARICOM Special Rapporteur holds a PhD in Government with special focus on Political Communication, and has done extensive research on persons with disabilities in Jamaica and the wider Caribbean. He led the negotiations for Jamaica at the United Nations on the Convention on the Rights of Persons with Disabilities (CRPD) between 2002 and 2006 and eventually signed and ratified the Convention in 2007, enabling Jamaica to be the first country in the world to do so.

In December 2013, in response to a mandate from the Conference of Heads of Government, the CARICOM Secretariat, in collaboration with the Government of Haiti, convened a high level meeting to examine the situation with regard to people with disabilities and to chart the way forward for an inclusive Region.

Among the outcomes of that meeting was a political document, the Pétion-Ville Declaration, which identified a number of actions for advancing the goal of an inclusive society for persons with disabilities. The appointment of a CARICOM Special Rapporteur on Disability, and the creation of a network for regular consultation among representatives of the regional community working in the interest of persons with disabilities, are among those.

The CARICOM Special Rapporteur on Disability will monitor and assess the implementation of the Pétion-Ville Declaration, in an effort to advance progress towards a disability inclusive society for all in CARICOM Member States.
In accepting the responsibility, the CARICOM Special Rapporteur indicated his commitment to the “huge task” ahead and pledged to work diligently with the CARICOM Secretariat, governments in the Region and the Advisory Committee to make the Caribbean a more participatory, inclusive and non-discriminatory society for persons with disabilities.

“To whom much is given, much is required and I am prepared to strongly advocate for improvements for my brothers and sisters with disabilities throughout the Caribbean”, he said.

Globally, one of the largest  vulnerable populations comprise persons with disabilities.  According to the World Health Organisation (WHO), “over a billion people, about 15 per cent of the world’s population, have some form of disability; between 110 million and 190 million adults have significant difficulties in functioning and rates of disability are increasing due to population ageing and increases in chronic health conditions among other causes”.

JPS gets what is owed to them

JPS

Government has cleared its debt owed to the Jamaica Public Service Company ( JPS ) for streetlights.

In making the disclosure at a disaster preparedness and mitigation town hall in Douglas Castle near the St. Ann/Clarendon border Thursday (October 25), Minister of Local Government and Community Development, the Hon Desmond Mckenzie, says the street light debt dates back several years and stood at over $7 billion.

He said that $4.5 billion was paid to the light and power company over a two month period to reduce the debt significantly, as the arrears stood in the way of residents getting defective streets lights repaired and new ones installed.

He explained that the Government “then had to find on a monthly basis, $300 million to pay to the [JPS] for street light and when we fail to pay that $300 million, it attracts interest.

“So… after discussions with Minister of Finance and Public Service, Dr. Nigel Clarke we went to Cabinet [and] Cabinet supported the recommendations that were made. We have now paid off the entire debt. So, come the end of the financial year,we will not owe the JPS one cent.”

Minister McKenzie noted that the JPS has since committed to repairing the country’s 12,000 malfunctioning streetlights by the end of the 2018/2019 financial year.

Fuel Price Adjustments

gas prices

The Public is hereby notified that in keeping with changes in international oil prices and Government’s application of the modified market pass-through petroleum pricing mechanism, the retail price of kerosene and LPG 20, 22, and 100 lb cylinders have been changed. The retail price of gasoline and diesel remains unchanged. The price changes take effect from Monday October 29, 2018:

  • Kerosene increased from $1.99 to $2.05 per litre or $9.04 to $9.31 per gallon
  • 20 Pound Cylinder (9.07 kg) increased from $32.48 to $32.69 per cylinder
  • 22 Pound Cylinder (9.98 kg) increased from $36.01 to $36.24 per cylinder
  • 100 Pound Cylinder (45.36kg) increased from $202.83 to $203.89 per cylinder
  • Gasoline remains unchanged at $3.07 per litre or $13.95 per gallon
  • Diesel remains unchanged at $3.07 per litre or $13.95 per gallon

The Public is informed that the retail prices of fuel products will be next adjusted on Monday November 19, 2018.

Atlantic 5-Day Graphical Tropical Weather Outlook

Atlantic 5-Day Graphical Tropical Weather Outlook

Tropical Weather Outlook
NWS National Hurricane Center Miami FL
200 PM EDT Fri Oct 26 2018

For the North Atlantic…Caribbean Sea and the Gulf of Mexico:

1. Recent satellite data indicate that a broad area of low pressure
located about 1200 miles east-northeast of the northern Leeward
Islands does not yet have a well-defined center. However, the
system is producing tropical-storm-force winds to the east of the
broad low and a tropical or subtropical storm is likely to form
tonight or tomorrow. The system is expected to move northward to
north-northeastward over the central Atlantic through tonight, and
then turn westward on Saturday, remaining well to the north or
northeast of the Lesser Antilles through early next week.
* Formation chance through 48 hours…high…90 percent.
* Formation chance through 5 days…high…90 percent.

Additional information on this system can be found in High Seas
Forecasts issued by the National Weather Service, under AWIPS
header NFDHSFAT1, WMO header FZNT01 KWBC, and available on the Web
at https://ocean.weather.gov/shtml/NFDHSFAT1.shtml

Forecaster Zelinsky

Outstanding Saint Lucians Honoured

Outstanding Saint Lucians Honoured
Prime Minister and Governor General with awardees. Top (from left)- PM, Dr Marius, Mr Adjodha, Mr. Stanislas, Sir Neville, Bottom (from left)- Mrs Ifill, Ms. Alcide, Ms. Dyer

Outstanding Saint Lucians honoured at Investiture Ceremony.

As Prime Minister Honourable Allen M. Chastanet addressed the 2018 Queen’s Birthday Honours recipients on Thursday October 25th 2018 at Government House, he called the outstanding citizens heroes in their own right.

“I look around this morning and I see devoted educators who have helped shape the minds of generations, a doctor who brought so many lives into this world and dedicated community servants . . . You all qualify as heroes in the history books of Saint Lucia,” stated the Prime Minister.

The Investiture Ceremony is the presentation of the Medals of Honour which recognises those individuals who have made achievements in public life; committed themselves to serving and helping their community, or done outstanding work throughout their life.

The awardees received their Medals from Governor General, His Excellency Sir Emmanuel Neville Cenac, and included: Dr. Herbert Marius, CBE, for outstanding contribution to health care; Mrs. Augusta Ifill, OBE, for Education; Mr. Alphonsus Stanislas, MBE, for Education and Community Service; Mr. Julius Adjodha, BEM, for community service; Ms. Christina Alcide, BEM, for community service; Mrs. Rita Catherine Dyer, BEM, for Education and Women Development.

“We are truly humbled to share this day with you and we remain in awe of your achievements . . . You did what you had to, for your family, for your community and for your nation. If we are to consider ourselves a caring and strong community we must take a moment always to say “thank you” to those who have contributed and continue to contribute to nation building,” Prime Minister Chastanet stated in his address adding that the path taken by these Saint Lucians serves as an inspiration to others.

The Prime Minister also took the opportunity to call on all Saint Lucians to nominate heroes in their community for National Awards. The Order of Saint Lucia nomination process is now open and will be commemorated on the Anniversary of Saint Lucia’s Independence on February 22nd, 2019, where recipients will be recognized and awarded for their contribution and services to Saint Lucia.

“Our heroes are everywhere,” he noted adding that as Saint Lucia prepares to mark Her 40th Independence Anniversary we must celebrate our outstanding citizens “as we strive to build a stronger nation.”

On behalf of the Government and People of Saint Lucia, the Prime Minister congratulated the 2018 recipients and thanked them for their continued service.

First UAE-Caribbean Cooperation Forum

UAE-Caribbean

The United Arab Emirates (UAE) will be hosting the First UAE-Caribbean Cooperation Forum in Dubai from 24 to 26 November 2018.  The Forum will be the first of its kind for the Region with the UAE, and the UAE is anticipating strong representation from the public and private sectors of the Caribbean.

The three-day event which will host key government representatives and private sector stakeholders is designed to create an exciting opportunity to exchange knowledge and experiences; to build strong networks; and to engage in dialogue at the highest level.  The aim is not only to discuss the strategic bilateral relationships, but also to identify new areas of cooperation and opportunities in the fields of Investment, Trade, and Culture.

Panel and Session Events will focus on Culture, Economic Partnership, Technical Development and EXPO Dubai which is scheduled to be held in 2020.

Information on logistical arrangements, inclusive of registration and venues, will be made public shortly.

LIAT Shareholders and Stakeholders

LIAT Shareholders and Stakeholders

LIAT Shareholders and Stakeholders Updated on Airline Restructuring

Saint Lucia’s Prime Minister Honourable Allen M. Chastanet joined Prime Minister of Saint Vincent Hon. Ralph Gonsalves, Grenada’s Hon. Keith Mitchell, Barbados’ Hon. Mia Amor Mottley and Antigua and Barbuda’s Hon. Gaston Browne, for an update on the Technical Committee Report on the Restructuring of the LIAT on Monday 22nd October 2018 at the Argyle International Airport in SVG.

The Meeting was Chaired by Prime Minister Gonsalves and also in attendance were Irwin La Rocque – Secretary General of Caricom, Jean Holder – Chairman of the LIAT Board, Julie Reifier-Jones – CEO of LIAT and Didacus Jules  – Director General of the OECS.

LIAT is currently engaged in restructuring as part of its efforts to achieve greater profitability and improve efficiency.

LIAT Shareholders and Stakeholders

Prime Minister Allen Chastanet is also attending the 66th OECS Authority Meeting today in SVG where a number of matters are being discussed including the Climate Smart initiative and Investment Ready Opportunities for the OECS. Also down for discussion is the establishment of a UWI campus in Antigua and OECS membership in the Inter-American Development Bank

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