North Korea

Opposition threatens to boycott parliament

admin — Fri, 01 Oct 2021 06:50:01 +0000

Opposition threatens to boycott parliament

/sites/default/files/imported_articles_images/node__3903.jpg

admin Fri, 10/01/2021 - 06:50

Wednesday, September 29, 2021

Original Publisher

Headlines

Original Article

Opposition threatens to boycott parliament

Opposition MPs have resolved to boycott parliamentary sittings as they continue mount pressure to secure the freedom of fellow legislators Allan Ssewanyana (Makindye West) and Muhammad Ssegirinya (Kawempe North).

Ssegirinya and Ssewanyana who are facing murder and terrorism charges got re-arrested soon after being granted bail by the High court. The MPs communicated their position following today's meeting chaired by the leader of the opposition in parliament (LOP), Mathias Mpuuga.

“We condemn the illegal detention of the two MPs and many other Ugandans who are being held for so long without trial,” opposition chief whip John Baptist Nambeshe said, adding that, “We will boycott the plenary sittings of parliament until the due process of the law is followed in the prosecution of our colleagues and other opposition supporters.”

The move, Nambeshe said, is intended to force the government to respect the rule of law.

“Until the two members and other Ugandans who support change who are in incarceration; some in places we don’t know are taken through due process, we shall not go back to parliament and comfortably deliberate on issues when our people are being persecuted,” Nambeshe said.

The development comes a day after opposition MPs stormed out of parliament in protest of what they termed as government’s failure to offer a satisfactory reason for the brutal re-arrest of Ssewanyana and Ssegirinya moments after they had been granted bail.

Ssewanyana was re-arrested last Thursday while Ssegirinya was re-arrested this Monday outside Kigo prison by armed security operatives. Meanwhile, the opposition has also rejected President Museveni’s push to abolish the requirement to grant bail to suspects.

“We want to confirm that we stand by the current provisions in the Constitution. Uganda obligations, internationally and regionally; we are party to the universal declaration of human rights that calls for presumption of innocence, we are a party to the international covenant on civil and political rights. All those obligations mandate us as a country to ensure that we respect the presumption of innocence and by extension, we uphold the right to apply for bail,” Bugiri MP Asuman Basalirwa said.

“We will defend the current constitutional provision that entitles anybody accused of an offence to apply for bail and will therefore not be party to any moves that are intended to remove bail from our law books. The current provisions on bail are sufficient enough to cater for Mr Museveni’s concerns,” he added.

Yesterday Tuesday, Museveni met NRM MPs to sell to them his idea of scrapping the constitutional provision on bail which Basalirwa warned is likely to cast the NRM government in bad light.

“The NRM government will go into history as the first government in the whole world to abolish bail. Not even the Taliban [in Afghanistan], not even the military regime in North Korea or in Myanmar abolished bail, so, they [NRM] will be the first should they pursue this matter to its conclusion. If Museveni wants to be the champion of being unique in that respect, we will not follow him in that uniqueness,” Basalirwa said.

Africa

News

FATF review set to get under way in July 2022

admin — Tue, 20 Jul 2021 01:00:01 +0000

FATF review set to get under way in July 2022

/sites/default/files/imported_articles_images/node__1455.jpg

admin Tue, 07/20/2021 - 01:00

Saturday, May 15, 2021

Original Publisher

Business – The BVI Beacon

Original Article

FATF review set to get under way in July 2022

The Caribbean Financial Action Task Force’s long-delayed onsite visit to the the Virgin Islands is scheduled for July 2022, and Financial Services Commission officials said a flurry of activity is ongoing behind the scenes to ensure that the VI complies with the watchdog organisation’s recommendations.

The CFATF, a group of 25 Caribbean jurisdictions, is responsible for regionally implementing standards set by the Paris-based Financial Action Task Force that are aimed at combating money laundering and terrorist financing. Its assessment is likely to affect the VI’s global reputation.

The purpose of the evaluation is to assess whether the territory has implemented a system that adequately prevents the facilitation of money laundering, terrorist financing and proliferation financing; to identify any deficiencies or gaps in implementing that system; and to make recommendations on addressing any such deficiencies, Alva McCall, FSC deputy director for anti-money laundering/combating the financing of terrorism, said during a BVI Finance Breakfast Forum on March 31, according to a BVI Finance press release about the event.

The VI was deemed “largely compliant” during the Third Round Mutual Evaluation that it underwent in 2008. The upcoming site visit is the fourth round evaluation, on which the VI will be assessed on expanded and updated criteria, according to Ms. McCall.

The visit and final report had been scheduled for 2017, but Hurricane Irma postponed those plans, Ms. McCall explained.

In 2008, she added, the Mutual Evaluation team reviewed the VI’s legislative framework surrounding the FATF’s then-“40 plus nine” recommendations for combating financial crime, which originally were drawn up in 1990 and were revised most recently in 2012.

The 2008 review “was instrumental in identifying the existing deficiencies of the territory’s AFL/CFT framework at that time,” Ms. McCall told the Beacon. “The fourth round goes one step further in evaluating the current effectiveness of the territory’s AML/CFT measures.”

Consequences

The task force’s evaluation could have major consequences for the VI’s reputation on the world stage.

As a result of its mutual evaluation reports, the FATF keeps a blacklist of “high risk jurisdictions” — which currently includes only North Korea and Iran — and a grey list of “jurisdictions under increased monitoring,” which includes 19 countries and territories.

Several grey-listed jurisdictions are in the Caribbean, including Jamaica, Barbados and the Cayman Islands, which was added in 2019 after the completion of its mutual evaluation report due to two main shortcomings, FATF President Marcus Pleyer announced at the time.

As a result, Mr. Pleyer demanded that Cayman “place sanctions on financial institutions for AML breaches” and “show that they penalise those who do not provide accurate up-to-date beneficial ownership information.”

The FATF, however, stopped short of echoing the United Kingdom’s call for public registers of beneficial ownership, which the VI and other overseas territories have agreed to work toward implementing.

Although the FATF lists are separate from the European Union’s anti-money laundering blacklist, the two lists include 16 members in common, and last year the EU vowed to revise its blacklisting criteria to more closely align with the FATF.

Methodology

When the VI’s evaluation process starts in July 2022, Ms. McCall said, the CFATF secretariat will work with the territory to agree on a team of four to five assessors from other CFATF member jurisdictions.

The assessors will be trained in the FATF methodology before visiting the territory, she explained, adding that they will present a draft of a mutual evaluation report before they leave. At that point, the territory will be given an opportunity to respond to the findings.

In May 2023, the report will then go on to the CFATF Plenary, and if other jurisdictions have issues with the report, it can be subject to further review at the global FATF Plenary in October 2023 before being published.

VI financial regulators have had a lot to do in order to prepare, Ms. McCall said.

Besides self-assessing the territory’s success in meeting the FATF’s 40 recommendations and developing a national AML/CFT policy, she explained, the Financial Investigation Agency has increased its personnel to speed up its analysis of suspicious activity reports.

The FSC has also drafted and submitted various legislative amendments to the House of Assembly, and the Attorney General’s Chambers has hired staff dedicated to international cooperation, she said.

Pending legislation

Much of this legislation was introduced in the House of Assembly in recent weeks, with several bills focused on bringing the VI up to date with international conventions on AML/CFT and strengthening the FIA’s power to investigate suspicious activity and shut it down.

For example, an amendment to the 1997 Criminal Code Act prescribes a maximum 10 years imprisonment and $500,000 fine for giving false revenue information to the public service, among other offences.

Other bills would stiffen penalties for drug-related money laundering and terrorism.

Industry

Ms. McCall added that industry partners also have roles to play to prepare for the review, by reviewing their policies to bring them in line with the findings of the “sectoral money laundering risk assessments” the FSC performed on its financial institutions in 2020.

To that end, she said, they can conduct their own risk assessments; ensure they can provide timely and accurate returns; properly train personnel; and be sure they can verify beneficial ownership information, which she said can “make or break a jurisdiction.”

Caribbean

Business

BBC: Trump offered Kim Jong-un a ride on Air Force One

admin — Mon, 22 Feb 2021 16:50:01 +0000

BBC: Trump offered Kim Jong-un a ride on Air Force One

/sites/default/files/imported_articles_images/node__7043.jpg

admin Mon, 02/22/2021 - 16:50

Original Publisher

NationNews Barbados — nationnews.com

Original Article

BBC: Trump offered Kim Jong-un a ride on Air Force One

Washington – Former United States President Donald Trump’s meetings with Kim Jong-un were among the most eye-catching moments of his presidency.

In the third and final episode of a new BBC series Trump Takes On The World, directed by Tim Stirzaker, we discover new details about how these summits came about, and speak to those who were in the room when the two men met.

What they saw stunned even the most seasoned diplomats – not least when Trump offered the North Korean dictator a lift home on Air Force One.

Trump’s second summit with Kim Jong-un, in Hanoi, Vietnam, did not go to plan. As negotiations over North Korea’s nuclear programme broke down, Trump left abruptly, saying to the press: “Sometimes you just have to walk.”

But before he departed, the then US president did make one astonishing offer to Kim.

Matthew Pottinger, the top Asia expert on Trump’s National Security Council told us: “President Trump offered Kim a lift home on Air Force One. The president knew that Kim had arrived on a multi-day train ride through China into Hanoi and the president said: ‘I can get you home in two hours if you want.’ Kim declined.” (BBC)

Caribbean

News

North Korea Accused Of Hacking Pfizer

admin — Tue, 16 Feb 2021 18:00:01 +0000

North Korea Accused Of Hacking Pfizer

/sites/default/files/imported_articles_images/node__2191.jpg

admin Tue, 02/16/2021 - 18:00

Tuesday, February 16, 2021

Original Publisher

St. Lucia Times News

Original Article

North Korea Accused Of Hacking Pfizer

North Korea attempted to steal Covid-19 vaccine technology from US pharmaceutical company Pfizer, according to South Korean intelligence officials. It is currently unclear as to what, if any, data was stolen. South Korea’s National Intelligence Agency privately briefed lawmakers about the alleged attack, reported local news agency Yonhap. The BBC has asked Pfizer for a […]

This article North Korea Accused Of Hacking Pfizer appeared first on St. Lucia Times News.

Caribbean

News

Barbados’ economic freedom score declines

admin — Mon, 18 Jan 2021 16:50:01 +0000

Barbados’ economic freedom score declines admin Mon, 01/18/2021 - 16:50

Monday, January 18, 2021

Original Publisher

Barbados Advocate - Business

Original Article

Barbados’ economic freedom score declines

BARBADOS has slipped three notches in the global Index of Economic Freedom. This country’s rating declined by just over five per cent to end 2020 with a score of 61.40 and a ranking of 92, according to the Fraser Institute.

In 2019 Barbados had a rating of 64.70 after its index expanded 13 per cent above the 2018 position of 57.00. It was pointed out that the 2018 position represented an almost five per cent increase that reversed the 20 per cent fall in 2017.

Barbados’ highest rating is 71.50 and that was achieved in 2009, according to the stats.

An index of economic freedom measures jurisdictions in terms of trade, tax burden, and judicial effectiveness, among other factors.

The top countries in the 2020 index are Singapore, Hong Kong, New Zealand, Australia and Switzerland. Completing the top 10 ranking countries are Ireland, UK, Denmark, Canada and Estonia.

For the Caribbean, Jamaica emerged the highest-ranking country, coming in at position 49 with a score of 68.4.

Following Jamaica are St. Lucia positioned at number 50, St. Vincent and the Grenadines 59th, The Bahamas 69th, Barbados 92nd, Dominica 97th, Trinidad and Tobago 109th, Belize 111th, Guyana 124th, Haiti 153rd and Suriname 163rd. North Korea is at the bottom of the ranking.

The index has been used as a barometer in some circles to suggest sound economic and social progress and to indicate good economic policies being pursued by states with high ranking.

However, this has not received global acceptance. Leading international economist, Jeffrey Sachs, has challenged the index, stating that there is no correlation between a country’s rating and its economic progress.

China is not among the countries ranked, but it continues to record high and sustained growth compared to those in the high positions of the index.

Business

Caribbean

Business

Barbados’ economic freedom rankings take hit

admin — Sat, 16 Jan 2021 19:10:01 +0000

Barbados’ economic freedom rankings take hit admin Sat, 01/16/2021 - 19:10

Saturday, January 16, 2021

Original Publisher

Barbados Today

Original Article

Barbados’ economic freedom rankings take hit

Barbados has slipped 25 places in ranking in the Index of Economic Freedom Report to now hold a position of 92 out of 180 countries.

The top ten ranking states considered to have the most “free” economies are Singapore, Hong Kong, New Zealand, Australia, Switzerland, Ireland, the UK, Denmark, Canada and Estonia.

The countries considered to have the most repressed economies are the Republic of Congo ranked at 176, Eretria (177), Cuba (178), Venezuela (179) and North Korea (180).

In the 2020 report, which represents the 26th edition, and based on data from the prior year, Barbados is considered “moderately free” with a score of 61.4, and is eight spots away from being considered “mostly unfree”.

Barbados is ranked behind Jamaica (49th), St Lucia (50th), St Vincent and the Grenadines (59th) and the Bahamas (69th).

In the 2019 report, the country was ranked at 67 with a score of 64.7, behind, St Lucia, Jamaica and St Vincent and the Grenadines.

The annual report, which is published by the Washington-based think tank The Heritage Foundation, examines countries’ economic policy development.

The report grades and ranks countries by measuring economic freedom based on 12 qualitative and quantitative factors grouped into four pillars – rule of law (property rights, government integrity and judicial effectiveness); government size (government spending, tax burden and fiscal health); regulatory efficiency (business freedom, labour freedom and monetary freedom); and open market (trade freedom, investment freedom and financial freedom).

It defines economic freedom as the fundamental right of every human to control his or her own labour and property, adding that in an economically free society, individuals are free to work, produce, consume and invest in any way they please.

“In economically free societies, governments allow labour, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself,” it added.

A breakdown of the data for Barbados showed that the island received a score of 56.6 when it came to property rights; judicial effectiveness (36.1); government integrity (44); tax burden (73.6); government spending (69.2); fiscal health (63.1); business freedom (69.4); labour freedom (60); monetary freedom (77.9); trade freedom (56.6); investment freedom (70); and financial freedom (60).

The scores indicated that there was an improvement in some areas including tax burden, government spending, labour freedom and property rights over the prior year.

However, there was a decline in the areas of judicial effectiveness, government integrity, business freedom and fiscal health.

“Its overall score has decreased by 3.3 points, dragged down by plummeting scores for judicial effectiveness and fiscal health. Barbados is ranked 17th among 32 countries in the Americas region and its overall score is approximately equal to the regional and world averages,” the report said.

“Although the Barbadian economy had nearly reached the mostly free category a decade ago, it fell all the way down to mostly unfree by 2017 and only this year has regained moderately free status. Economic growth during the past five years has likewise been depressed,” it said.

The report pointed out that the Mia Mottley administration was facing the challenge of enacting structural reforms to strengthen public finances against a backdrop of weak economic growth. It also acknowledged that the country had a high dependency on tourism and the offshore banking sectors, adding that “serious challenges” to medium-term economic growth remain.

“For economic freedom to resume an upward trajectory in Barbados, the government needs to build on its low tax burden and relatively strong scores for monetary and trade freedom. To restore investor confidence, efforts to shrink the country’s extremely large public debt and implement structural reforms must continue.”
([email protected])

Caribbean

News