Archive for May 21st, 2010

Caribbean broadcast regulators to meet in Jamaica in June

Friday, May 21st, 2010
 
KINGSTON, Jamaica (JIS) — Caribbean regulators, policy specialists and professionals in the broadcasting, telecommunications and wider ICT community will meet June 7 - 8 in Kingston, Jamaica, to discuss the future of broadcasting in the Caribbean.

The disclosure was made by Chairman of the Broadcasting Commission, Hopeton Dunn, on Wednesday at the Online Press Launch of the Commission’s Regional Regulators’ Forum on Policy and Regulation in the Electronic Media.

Chairman of the Broadcasting Commission, Dr. Hopeton Dunn, responding to a question during the Online Press Launch of the Commission’s Regional Regulators’ Forum on Policy and Regulation in the Electronic Media on Wednesday. To his left, Executive Director, Cordell Green, monitors feedback from web participants. (JIS photo)

“A lot is happening in the Caribbean broadcasting and technology related landscape, and we are all about to make decisions about what will be the future of the broadcasting technology that we use in the Caribbean,” Dunn said.

“It was felt by the Commission that we should help the Caribbean arrive at a consensus on critical issues, such as the technical standards and timetable for the Digital Switchover”, Dunn explained.

Among the issues to be discussed are: the harmonisation of broadcasting and regulatory policies, including content standards across the Caribbean media landscape; and the impact of technological convergence on the broadcasting and related industries, including the challenges posed to regulation of the converging sector.

Another priority issue is the Digital Switchover, which the Chairman stated would provide an excellent opportunity to utilize the country’s bandwidth for social and economic development.

“The switchover from analogue to digital is likely to free up quite a bit of spectrum space, as we move into the digital area. It will provide us with an opportunity to be more dynamic in how we deliver content, and also impact on the quality of content,” he stated.

He suggested that, even more critical, will be how the digital dividend is managed, and the extra space and opportunities [mobile, broadband and third generation services] that are generated by virtue of switching to digital.

Several other issues will be discussed in four major roundtables. These are, “Media Policy for the Digital Age”, “The Digital Communications Market: Challenges and Opportunities”, “The future of Broadband and Digital Platforms” and “Media Content Standards”.

On the second day of the forum, regulators will meet in a dedicated closed session to discuss strengthening content regulation, coordinating the Digital Switchover and building a regional regulators’ forum.

While the physical participation in the event will be limited, all roundtable sessions will be streamed live online for participation of a wider audience, within and outside Jamaica.

Meanwhile, Steering Committee member and Broadcasting Commissioner, Elaine Wallace, who also spoke at the launch, highlighted the major role played by the licencees in the planning of the forum.

She said that some of the issues that are going to be addressed were placed on the programme because of the input of the licencees, who have been involved in the planning.

“The planning committee had representations from over-the-air broadcasters, the Media Association of Jamaica (Chairman, Gary Allen) and subscriber television. We have crafted a programme for the forum which involves licencees and which reflects matters in which licencees have a definite interest”, she told JIS News.

The Broadcasting Commission is the region’s oldest broadcasting regulator, and has successfully engaged, over the last few years, in leading the transformation of on-air content, especially in music, from inappropriate to more acceptable daily output. (Caribnet)

Haiti website launched by office of CARICOM representative

Friday, May 21st, 2010
 
GEORGETOWN, Guyana — The Office of The Special Representative of the Caribbean Community on Haiti has launched its website, www.osprhaiti.org.  The website serves as a gateway for online surfers who seek information on the situation in Haiti following the January 12 earthquake and the Haitian, Caribbean and International response to the catastrophe.

The website is especially useful to those investors, contractors and donors from the Caribbean who wish to engage with Haiti in the on-going plans for that nation’s reconstruction and regeneration following on the disaster. It offers: links to related websites; relevant and timely releases; the text of crucial statements and speeches; special news bulletins; and other important information.

Among other documents visitors to OSPR Haiti may view and or download is the Action Plan which is being used as the basis for the implementation programme being guided by the Interim Haitian Reconstruction Commission (IHRC) headed by President René Préval and co-chaired by Prime Minister Jean-Max Bellerive and former US President Bill Clinton. The CARICOM Special Representative on Haiti, former Prime Minister MJ Patterson is also a member of that Committee.

The website also includes a photo-gallery on Haiti since the earthquake. It is intended that all CARICOM nationals as well as persons in the Caribbean Community and in the Caribbean diaspora will use the website as their gateway to information on Haiti and to obtain the unique Caribbean perspective on the situation which faces our CARICOM sister nation. As far as possible, the website will make such information available in English. The website was created by the Office of the Special Representative with the support of Digital Transtec Limited (DTL) and the Pan American Health Organization (PAHO) Jamaica office. (Caribnet)

Mechanism in place for micro-credit scheme in Guyana

Friday, May 21st, 2010
 
GEORGETOWN, Guyana (GINA) — The administrative mechanism necessary for the operation of the single parent micro-credit scheme in Guyana has been put in place, Head of the Presidential Secretariat, Dr Roger Luncheon said Thursday.

Speaking at his weekly post-Cabinet press briefing, Dr Luncheon mentioned that the micro-credit scheme will provide small loans targeting the disadvantaged, underprivileged and other vulnerable groups.

Guyana’s Cabinet Secretary, Dr Roger Luncheon

“In that context the administrative mechanisms are in place at the Ministry of Human Services and Social Security to give effect to a decision to create and support the scheme,” the Cabinet Secretary said.

He disclosed that legislation to amend the Income Tax Act which is necessary to facilitate the input of financial institutions will see a third consecutive reading at the next sitting of the National Assembly on May 27.

“Single parents are the main beneficiaries and other eligible individuals will be targeted with this revolving loan scheme.”

The single parent micro-credit scheme was a proposal of Minister of Human Services and Social Security, Priya Manickchand.

The design of the programme would see government along with other financial institutions funding the availability of micro-credit loans to single parents; with specific emphasis on women.

In response to the needs of the people, Government established the National Single Parents’ Register and took into consideration the types of assistance requested by those who registered.
Hundreds of single parents were trained in Childcare, Care for the Elderly, Pharmacy Bond Clerk, Medical Records, Health Care, Cosmetology, Sewing, Catering, Office Procedures and Information Technology.

On completion of their studies, the single parents will also receive the necessary equipment to begin their trade. (Caribnet)

Special airfare announced from New York to Grenada

Friday, May 21st, 2010
 
ST GEORGE’S, Grenada – The Grenada Board of Tourism is pleased to announce a special promotional fare to Grenada from New York’s John F Kennedy International Airport (JFK).

To celebrate Delta Air Line’s new non-stop service beginning Saturday, July 3, 2010, the airline is offering a promotional fare of $498 for a round-trip ticket in economy class. Additional taxes/fees/restrictions apply.

Traveling to Grenada is now more affordable and convenient with Delta’s new flight that will operate twice a week (Wednesdays and Saturdays) and depart JFK at 1:15 am and arrive at Maurice Bishop International Airport in Grenada at 6:03 am. The return flight from Grenada will be at 7:15 am with arrival in New York at 12:05 pm.

“We are extremely excited about the new Delta Air Lines’ service,” said William Joseph, Director of Tourism for the Grenada Board of Tourism. “New York is one of our most important markets, comprising a large percent of our US tourist base. We welcome this opportunity to bring New Yorkers and those connecting from all across the US via New York to our beautiful island.”

Known as the “Spice of the Caribbean,” Grenada boasts some of the Caribbean’s most beautiful beaches, delectable cuisine and spices, a tropical rainforest, and a wide range of first-class, fun-filled activities such as diving, snorkeling, hiking, fishing and sailing. (Caribnet)

CARICOM to monitor member states’ elections

Friday, May 21st, 2010
 
GEORGETOWN, Guyana — The Caribbean Community (CARICOM) has been invited by the incumbent governments of Trinidad and Tobago, and Suriname to monitor their countries’ general elections, which both take place next week.

The teams began arriving on 19-20 May to begin their observations of the preparations for elections on Monday 24 May in Trinidad and Tobago, and on 25 May in Suriname.

Chief of Mission to Trinidad and Tobago, Hugh Cholmondeley, Former Advisor to the CARICOM Secretary-General on Haiti, will lead a team which includes Deputy Chief of Mission, Dame Billie Miller, Former Deputy Prime Minister, Barbados; and Ellsworth John, St Vincent and the Grenadines’ Ambassador to CARICOM.

The team to Suriname includes Chief of Mission,  Michael Flood, Electoral Commissioner, Saint Lucia; Deputy Chief of Mission, Gocool Boodhoo, Chief Elections Officer, Guyana Elections Commission; and Hensley Robinson; Chief Electoral Officer, Barbados.

The Missions’ main functions would be to monitor the preparations of the elections; the conduct of the Polls; and the counting of ballots. The Missions are required to assess the political environments and outcomes of those elections and to prepare a Report on their findings.

This practice of fielding CARICOM Observers Missions is part of the Community’s efforts to foster democratic principles and the maintenance of good governance in CARICOM Member States.

The Mission to Trinidad and Tobago will depart on Wednesday 26 May, while the team to Suriname will leave on May 28.

Venezuela’s Chavez vows more financial crackdown

Friday, May 21st, 2010
 
By Andrew Cawthorne

CARACAS, Venezuela (Reuters) — President Hugo Chavez vowed on Thursday to deepen a financial crackdown after raids on 15 brokerages and the arrest of four directors in the wake of the state’s takeover of foreign exchange trading.

The socialist leader said this week’s move to exclude private money-changers and transfer the so-called “parallel” currency business to the Central Bank, had brought a typically ferocious reaction from Venezuela’s traditional elite.

“We’re going to keep hitting them hard,” Chavez said in a speech on state TV. “We will become more radical, the more imperialism and its allies attack us.”

With Venezuela’s “parallel” market paralyzed, until the central bank sets up its new system, economists and business leaders have accused Chavez of bringing chaos to the OPEC member nation’s already recession-hit economy.

Given restricted access to dollars at the official rates of 2.6 and 4.3 bolivars, more than half of imports had been depending on the “parallel” market, where the local currency had dived this year to more than 8.0 to the dollar.

By taking over that “parallel” market, South America’s biggest oil exporter is now effectively setting up a third controlled exchange rate, albeit within a band. Chavez said the band would be near the 4.3 rate, though analysts and traders had forecast around 5.0-7.0 bolivars.

Angrily waving the front page of local business daily El Mundo and quoting business leaders’ criticism of him, Chavez said the “savage Venezuelan bourgeoise” had launched a concerted attack since Tuesday’s currency announcements.

Analysts say a new black market will inevitably spring up, creating a fourth and much higher rate for the dollar, and another devaluation may come next year.

Since Tuesday’s measures were announced, financial officials have searched 15 institutions in Caracas, studying documents, examining computers and quizzing staff.

Four brokerage directors have been arrested.

Chavez said the government was bringing down an old system of “fraud houses” run by a “mafia”. “Nothing and nobody is going to stop me, I guarantee you, Mr. Oligarchs,” he said.

Chavez accuses capitalist speculators of undermining the bolivar and fueling one of the highest inflation rates in the world. Critics blame him, however, for the country’s economic woes, saying a complex currency system distorted the market, while socialist policies hobbled investment and production.

Chavez rejected criticism of state currency board CADIVI, saying it had released $11.8 billion to businesses so far this year, compared to $10.3 billion in the same period of 2009.

Analysts say the government must act swiftly during a period of uncertainty until the new system is operating.

“Delays will only choke imports, with the corresponding results of higher inflation, lower private demand, more severe shortages and deeper contraction of economic activity,” the Royal Bank of Scotland said in a research note on Thursday.

“The erratic policy response and the authorities’ track record does not augur well for a fast resumption of a working permuta (swap) FX market.”

Venezuela’s more than 90 brokerages had increasingly relied on the exchange business — via complex debt-swaps — because trade on the local stock exchange was minimal, sometimes less in a day than the cost of a middle-class Caracas apartment.

“There is panic. Many firms have already started laying off people. There is a witch-hunt taking place against the brokerage houses, as if they are the only ones who are responsible for what is happening,” said one trader.

Despite its oil, analysts predict Venezuela will be the only Latin American nation with economic contraction in 2010. (Caribnet)

Castro ready to resolve political prisoners issue

Friday, May 21st, 2010
 
by Isabel Sanchez

HAVANA, Cuba (AFP) — President Raul Castro is ready to consider resolving the thorny issue of Cuba’s jailing of political dissidents, though talk about releasing them was off the table for now, a Catholic Church official said Thursday.

“This issue was talked about and I believe both sides are ready and want to resolve it and we hope this will be done. I believe this will be done,” Cuba’s Episcopal Conference leader Archbishop Dionisio Garcia said after an unprecedented discussion with Castro on Wednesday.

Asked whether the talks might lead to an agreement to free the political prisoners, Garcia responded cautiously.

“There will be a process and this process has to start with small steps and these steps will be made,” he told AFP.

“We hope that the conversation will go in that direction.”

Garcia was accompanied at the meeting in Castro’s office by Cuban Cardinal Jaime Ortega, who also said the “positive meeting” with the president raised hopes of a breakthrough.

Ortega said that while “we hope” political dissidents will be released, “regarding the sick ones, we expect it,” for humanitarian reasons.

Dissident groups say there are more than 200 political prisoners held in Cuban jails. Amnesty International considers 65 of them as prisoners of conscience.

Cuba denies it holds any political prisoners and calls dissidents “mercenaries” funded by the United States and a conservative Cuban-American “mafia.”

Several of the detainees have gone on a hunger strike and are in poor health. Orlando Zapata died in jail in February after not eating for 85 days.

The Catholic Church has pressed Castro’s Communist regime on the issue, without, however, resorting to confrontation.

It has persuaded authorities to drop a ban on a group of wives and female relatives of jailed dissidents known as the Damas de Blanco (the Ladies in White) holding a public march calling for their loved ones to be released.

Garcia described the talks with Castro as “very cordial” and ranging across several topics “of common interest.”

Ortega said the Ladies in White were also discussed at the meeting.

The Cuban government’s mouthpiece newspaper Granma noted the meeting but did not mention the political prisoners issue.

It said Castro and the two Church officials spoke on “various subjects” including “the favorable development of relations between the Catholic Church and the Cuban state.”

The meeting came ahead of a June 16-20 visit by the Vatican’s official in charge of foreign relations, Monsignor Dominique Mamberti, who is scheduled to meet Cuban leaders on the occasion of 75 years of ties between the Communist island and the Holy See, and to head a Catholic “social week.”

In 1998, when the late pope John Paul II made the only visit to Cuba by a pontiff, then-president Fidel Castro released more than 300 political and ordinary prisoners.

Castro ready to resolve political prisoners issue

Friday, May 21st, 2010
 
by Isabel Sanchez

HAVANA, Cuba (AFP) — President Raul Castro is ready to consider resolving the thorny issue of Cuba’s jailing of political dissidents, though talk about releasing them was off the table for now, a Catholic Church official said Thursday.

“This issue was talked about and I believe both sides are ready and want to resolve it and we hope this will be done. I believe this will be done,” Cuba’s Episcopal Conference leader Archbishop Dionisio Garcia said after an unprecedented discussion with Castro on Wednesday.

Asked whether the talks might lead to an agreement to free the political prisoners, Garcia responded cautiously.

“There will be a process and this process has to start with small steps and these steps will be made,” he told AFP.

“We hope that the conversation will go in that direction.”

Garcia was accompanied at the meeting in Castro’s office by Cuban Cardinal Jaime Ortega, who also said the “positive meeting” with the president raised hopes of a breakthrough.

Ortega said that while “we hope” political dissidents will be released, “regarding the sick ones, we expect it,” for humanitarian reasons.

Dissident groups say there are more than 200 political prisoners held in Cuban jails. Amnesty International considers 65 of them as prisoners of conscience.

Cuba denies it holds any political prisoners and calls dissidents “mercenaries” funded by the United States and a conservative Cuban-American “mafia.”

Several of the detainees have gone on a hunger strike and are in poor health. Orlando Zapata died in jail in February after not eating for 85 days.

The Catholic Church has pressed Castro’s Communist regime on the issue, without, however, resorting to confrontation.

It has persuaded authorities to drop a ban on a group of wives and female relatives of jailed dissidents known as the Damas de Blanco (the Ladies in White) holding a public march calling for their loved ones to be released.

Garcia described the talks with Castro as “very cordial” and ranging across several topics “of common interest.”

Ortega said the Ladies in White were also discussed at the meeting.

The Cuban government’s mouthpiece newspaper Granma noted the meeting but did not mention the political prisoners issue.

It said Castro and the two Church officials spoke on “various subjects” including “the favorable development of relations between the Catholic Church and the Cuban state.”

The meeting came ahead of a June 16-20 visit by the Vatican’s official in charge of foreign relations, Monsignor Dominique Mamberti, who is scheduled to meet Cuban leaders on the occasion of 75 years of ties between the Communist island and the Holy See, and to head a Catholic “social week.”

In 1998, when the late pope John Paul II made the only visit to Cuba by a pontiff, then-president Fidel Castro released more than 300 political and ordinary prisoners. (Caribnet)

JPS fuel bill doubles, profit grows 693%

Friday, May 21st, 2010

 

Electricity consumers paid an approximately J$12.5-billion energy bill for fuel used by provider Jamaica Public Service Company (JPS) to power its grid between January and March this year.

The utility bills its fuel charges as a pass-through cost to customers. The current charges came close to doubling the March 2009 quarter’s J$6.8 billion, tracking with the near doubling of world oil market prices within that 12-month period.

World oil is now trading at around US$70 per barrel, trending down from April’s US$85 high, but Jamaica buys on concessionary terms from Venezuela.

For the quarter, JPS, which is majority owned by Asian corporations Marubeni and TAQA, collected just shy of J$20 billion in revenue from which it grossed J$5.9 billion after fuel expenses and payments to its contracted independent power suppliers.

Higher maintenance charges, however, pushed operating expenses five per cent higher to J$2.95 billion, from J$2.8 billion in the comparative quarter, erasing the J$207 million of gains on gross profit.

The surplus from operations, net of larger depreciation expenses, was close to flat at J$1.96 billion. (JPS publishes its earnings in US dollars, which have been converted at a rate of JMD 89.51 for this year’s results, and JMD 88.82 for the 2009 quarter).

Bottom-line profit outperformed the comparative quarter, swinging from a loss of J$142 million to net profit of J$840.7 million - a 693 per cent turnaround.

The company is now valued at about J$68 billion by assets but a substantial J$17 billion of that is in the form of receivables or funds owed by debtors. (Jamaica Gleaner)

business@gleanerjm.com

JPS Q1 Results

Jan-Mar 2010

RevenueUS$223.2mFuel BillUS$139.9mGross ProfitUS$66.02mEBITUS$21.86mNet ProfitUS$9.39mAssetsUS$757.6mWorking CapitalUS$104.9mNet CashUS$25.55m

Sugar deal pays off

Friday, May 21st, 2010

 

Workers at Frome sugar factory in Westmoreland. Farm equipment lie idle at Frome sugar factory in Westmoreland where production has halted. - Tashieka Mair photo

The Frome Sugar Factory in Westmoreland. - File

The Frome Sugar Factory on the estate in Westmoreland. Frome’s target of 42,000 tonnes of sugar this crop is expected to fall short by 9,000 tonnes. - File

On the Frome Sugar Estate Westmoreland. Frome’s target of 42,000 tonnes of sugar this crop is expected to fall short by 9,000 tonnes. - FILE

1 2 3 4 >

Mark Titus, Business Reporter

Jamaica is yet to deliver all the raw sugar promised to Eridania Suisse SA, but has already paid back the funds seeded by the European trader and refiner and booked a profit from the monies collected on shipments to date.

The Government has paid off the US$15 million advanced from the forward sale of 79,000 tonnes of raw sugar from the 2009/10 crop.

John Gayle, general manager of SCJ Holdings, the vehicle used by Government to manage its remaining sugar assets, said the repayment included interest charges, which, from his comments, appear to have amounted to around US$500,000 paid from the first shipment to Eridania in February.

“So far, we made roughly US$24 million,” Gayle said.

“They took US$15 million from that, so we got a little under US$9 million; this means we have no liability,” Gayle told the Financial Gleaner this week.

The parties had agreed that a portion of the pre-financed amount would be deducted from each shipment of raw sugar delivered until the full payment plus interest is made.

“We have paid off the pre-financed amount, plus interest - US$5.5 million from the first shipment, US$5 million from the second and another US$5 million from the third,” said Gayle - for a total of US$15.5 million.

The three shipments amounted to 61,000 tonnes - the Sugar Association of the Caribbean (SAC) puts Jamaica’s exports to Europe at a more precise 60,802 tonnes up to theend of April - with the remaining 18,000 tonnes to be shipped by July, the sugar official said.

The two government-owned sugar factories which contributed to the supplies are Frome in Westmoreland and Monymusk in Clarendon.

The Bernard Lodge, St Catherine, facility no longer makes sugar, but the cane grown there makes up the 426,000 tonnes process at Monymusk.

Frome, with a 100,000-tonne sugar capacity, was projected to churn 42,000 tonnes by the end of the crop season, but has already fallen short by 9,000 tonnes, a deficiency the SCJ Holdings manager is blaming on a combination of drought and irregular rainfall.

For the same reasons, Monymusk will not meet its target of 37,000 tonnes of sugar either.

However, the sugar industry is so organised that producers - private and public - sell their output into a pool from which export quotas are satisfied.

But, a more efficient performance is required from both factories if SCJ is to meet its new contractual obligation to another European firm, Tate & Lyle, which displaced Eridania in a new pre-financing deal struck with the Jamaican Government.

Under the Tate & Lyle arrangement, the Government will receive US$46 million over two years in exchange for the supply of 100,000 tonnes of raw sugar annually. SCJ Holdings will receive US$26 million for the 2010 crop year and US$20 million the following year.

Approximately 40 per cent of the agreed supply must be delivered to Tate & Lyle by March 31, 2011.

While, for the 2009/10 crop year, US$6 million was spent - prepare the factories, including new equipment and the planting of cane, another US$4 million-US$5 million is being spent to ensure that for the 2010/11 season the factories achieve greater efficiency.

“We want to place automation in some areas to take the efficiency a little higher, but it is cane planting and irrigation that is going to take up the bulk of investments,” said Gayle.

When quizzed about a contingency plan should the Government factories fail to produce the amount required by Tate & Lyle, Gayle said a pooling arrangement has been agreed by local state-owned and private sugar producers. In the event of a shortfall at Frome or Monymusk, the remainder will be sourced from private producers at Duckenfield in St Thomas, Long Pond in Trelawny, Worthy Park in St Catherine or Appleton Estate in St Elizabeth.

Sugar pooling arrangement

“All the sugar factories, through the sugar manufacturers’ association, agree to a pooling arrangement, where all the sugar made in the country is pooled, and the various markets are supplied.”

The cooperation among producers was also in place for the Eridania supply arrangement.

“What we had to do for the current crop is to exchange with Worthy Park, sending their sugar to Eridania and selling the sugar from Monymusk and Frome locally because Frome bags its sugar, but they (Worthy Park) don’t,” the SCJ general manager said.

“So Monymusk and Frome bagged for the local market and the rest of factories come together for the other obligation, but each party’s volume is weighed and measured and you know how much each makes.”

All proceeds from Eridania, both the premium and profit share, Gayle said, are shared among the industry.

“So everybody benefits.”

For the current crop, of the total national supply, 79,000 tonnes is slated for Eridania; 12,000 tonnes goes to the United States, of which 6,012 tonnes have already been delivered, according to SAC data; and the remainder supplies the domestic market. (Jamaica Gleaner)

mark.titus@gleanerjm.com