HAMILTON, Bermuda, CMC – Bermuda says it will sign an inter-governmental agreement (IGA) with the United States and Britain saying the decision will further cement the British Overseas Territory as a reputable jurisdiction for conducting business in a transparent manner. Finance Minister E.T. Richards said the accord with Washington follows widespread discussions with local stakeholders and US Treasury officials. He said London has already produced an official draft IGA Model 2 for consideration by Bermuda.
PROVIDENCIALES, Turks and Caicos Islands, CMC - The Turks and Caicos Islands (TCI) says it wants to work better with Haitian authorities to prevent the flow of illegal migrants into the British Overseas Territory. Governor Ric Todd has held talks with the TCI-based Haitian Consul General, Karlo Pellissier and a statement issued afterwards noted that the meeting was called to discuss how the two countries “can better work together to tackle the issue of sloops” leaving Haiti for the TCI.
HAMILTON, Bermuda, CMC - Tourism officials and hoteliers have hailed road shows to attract more visitors from the United Kingdom -- which currently provides just 10 per cent of Bermuda's air arrivals -- as a success. Last week's promotional activities in London, Birmingham and Manchester also received the support of British Airways (BA) executives, who had earlier criticised Bermuda -- a British Overseas Territory in the North Atlantic -- for failing to market itself effectively amid growing competition.
GRAND TURK, Turk and Caicos Islands, CMC – The head investigator in a British Government’s probe of corruption in the Turks and Caicos Islands says former Premier Michael Misick will stand trial.
Helen Garlick of the Turks and Caicos Special Investigation and Prosecution Team, said Misick will join 10 others, including four of his cabinet ministers, in defending allegations that they illegally sold government lands for profit and cut other sweetheart deals to enrich themselves during their tenure in office.
GRAND TURK, Turks and Caicos, CMC – Over 160 Haitians will be repatriated after their boat was intercepted off the coast of the British Overseas territory on Monday. Turks and Caicos Minister for Border Control and Labor, R.D.
PORT OF SPAIN, Trinidad, CMC – The Turks and Caicos Islands is still considering political independence from Britain, Premier Dr. Rufus Ewing has said. Ewing told the Caribbean Media Corporation (CMC) that “independence remains a major issue” three years after Britain suspended the island’s constitution and set up a one-man commission to probe the government of then premier Michael Misick. “I think any right thinking country should have independence as its destination. The time period however is the question.
UNITED KINGDON—Two Caribbean countries were among the offshore havens used by more than 175,000 UK-registered companies with directors giving addresses in those jurisdictions, the UK Guardian reported yesterday. This raises fresh concerns about the scale of Britain’s involvement in offshore secrecy arrangements.
HAMILTON, Bermuda, CMC - Cash-strapped Bermuda has received a fresh warning its credit rating may be downgraded as the island's debts mount in the midst of a four-year recession.
International ratings agency, Moody’s Investors Service, on Wednesday placed Bermuda’s Aa2 rating on review for possible downgrade.