KINGSTON, Jamaica The Cayman Islands is scrapping a plan to impose a direct income tax on thousands of expatriates working in the British Caribbean territory that is famed as a no-tax financial center.

Premier McKeeva Bush issued a terse statement late Monday saying that his proposed tax was "off the table and will not be implemented." He did not say what alternative revenues might replace it.

The islands leader said only that his administration was "satisfied that many of the commitments from the private sector" will meet his demands for a new source of revenue for the government that wont hit the poorest citizens. He has been huddling with business leaders in recent days.

Zero direct taxation, friendly regulations and the global money they lured have transformed the tiny British territory into the worlds sixth largest financial center, with $1.6 trillion officially booked international assets.

Bush announced in late July that he planned to impose a direct tax on expatriate workers income Sept. 1 to bail the territorial government out of a financial hole and to meet Britains demand that Cayman diversify its sources of revenue beyond the work permit fees, duties and other fees it now relies on.

He later said the annual income threshold would be $36,000, which would have affected about 5,870 expatriates. He described it as a "community enhancement fee" rather than a tax.

The proposal outraged many people, who said the tax would be discriminatory and could destroy the islands main economic anchor.

On Tuesday, many expatriates were still left guessing about what the new revenue measures would include.

"The only reaction is confusion as the uncertainty continues. At least he has removed this one tax that would have been our death sentence," said Grand Cayman real estate broker Kim Lund, who added that several deals fell through after Bush announced the tax plan.

Some wealthy expatriates had said they planned to leave Grand Cayman, where accountants, lawyers and other skilled professionals work in coastal offices looking out on clear, blue seas.

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Cayman Islands premier scrapping income tax on expatriates

GEORGE TOWN, Cayman Islands (Reuters) - The Cayman Islands has dropped plans to impose an income tax on foreign workers nearly two weeks after proposing it in a last-ditch effort to overcome budget woes.

The Cayman Islands, which has had no income tax, is known as a tax haven for the mega-rich. The irony of imposing the tax was not lost on the financial industry workers who came out in droves to protest a measure that they said could hurt the industry that has made the beach-lined British territory one of the richest in the Caribbean.

The unprecedented proposal - called a "community enhancement fee" - would have imposed a 10 percent tax on foreign workers earning more than US$43,200, amended from US$24,000 when it was initially announced.

Critics said the proposal would cost the territory its primary competitive edge and send international investors to other jurisdictions with lower business costs.

Following an urgent discussion with several high-profile business leaders, Cayman Islands Premier McKeeva Bush said on Monday that alternate revenues had been identified.

"The tax would be taken off the table if robust, credible and sustainable revenue that did not hurt the poorest members of our islands was found. We are satisfied that many of the commitments from the private sector will meet these criteria," he said.

Neither he nor the business leaders identified those revenues but they were expected to be revealed at a public meeting on Wednesday night.

Several industry associations released statements opposing the tax. The outcry also was reflected in the Facebook page Caymanians & Expats United Against Taxation, which collected over 11,000 members in less than a week. The Cayman population is about 53,000.

While foreign workers make up about 50 percent of the Cayman labor force, there were plenty of loopholes that would have excluded the majority of the top earners in the territory as well as civil servants, leaving the bulk of the payroll tax burden to middle-income workers in the private sector.

Experts said the amount of extra revenue the new payroll tax would have brought in would not be enough to overcome the government's growing deficit problems.

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Cayman Islands drops plan to tax foreign workers' income

Firefighters made strides Tuesday against wildfires on Spain's Canary Islands that charred parts of a protected forest, but with a heatwave forecast the country was on alert for more blazes.

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Firefighters beat back Canary Islands blazes, Spain on alert

KINGSTON, Jamaica (AP) -- The Cayman Islands is scrapping a plan to impose a direct income tax on thousands of expatriates working in the British Caribbean territory that is famed as a no-tax financial center.

Premier McKeeva Bush issued a terse statement late Monday saying that his proposed tax was "off the table and will not be implemented." He did not say what alternative revenues will replace it, however.

The islands' leader said only that his administration was "satisfied that many of the commitments from the private sector" will meet his demands for revenue that would not hurt the poorest citizens of the islands.

Zero direct taxation, friendly regulations and the global money they lured has transformed the tiny island territory into the world's sixth largest financial center, with $1.6 trillion officially booked international assets.

Bush announced in July that he planned to impose a direct tax on expatriates to bail the territory out of a financial hole and to meet British government demands that the territory diversify its sources of revenue beyond the work permit fees, duties and other fees it now relies on.

He later said the income threshold would be $36,000, which would affect about 5,870 expatriates.

The abrupt proposal outraged many on the islands, who said the tax would be discriminatory and could destroy the islands' economic anchor.

On Tuesday, many expatriates were still left guessing about what the new revenue measures would include.

"The only reaction is confusion as the uncertainty continues. At least, he has removed this one tax that would have been our death sentence," said Grand Cayman real estate broker Kim Lund.

He said several real estate sales fell through after Bush announced the tax plan and some wealthy expatriates said they planned to leave Grand Cayman, where accountants, lawyers and other skilled professionals work in coastal offices looking out on clear, blue seas.

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Cayman premier scrapping income tax on expats

CEBU, Philippines - Islands Souvenirs, a subsidiary of the Islands Group of Companies, supports Quota International of Metro Cebu (QIMC) in its drive to promote equality and understanding of children with disability.

QIMC partnered with Islands Souvenirs to stage the Olympics for Special Children carrying the theme, Continuing to Move Beyond the Challenge as part of the Disability Month celebration held at the San Nicholas Multi-Purpose Hall on July 28.

QIMC President Cheryl Arnan-Ligutom said of the cause: We continue to aim towards the objective that the children will develop physical fitness, demonstrate courage, and experience joy and sharing. We are likewise hoping that this event will promote a better understanding of the children with disability in an environment of equality, respect and acceptance in the community.

She added that, partnering with Islands Souvenirs is significant because of its catchy statement on I heart. Clearly expresses our feelings Quota International of Metro Cebu hearts SPED kids.

This is the 3rd SPED Olympicsaimed at harnessing love for life through sports despite physical limitations. QIMC and Islands Souvenirs believe in the importance of accepting SPED children and disadvantaged women in our society, understanding their limitations and supporting their needs.

The Olympics was participated in by six SPED public schools in Cebu City namelyZapatera, Barrio Luz, San Nicholas, Labangon, Bulacao and Don Vicente Rama SPED Center. (FREEMAN)

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Islands Souvenirs supports children w/ disability

Sua William Sio Pacific Island Affairs Spokesperson

7 August 2012

Cook Islands language week highlights bilingual education

Events celebrating Cook Islands Language Week highlight the importance of indigenous languages and Pacific bilingual education here in New Zealand, says Labours Pacific Island Affairs spokesperson Sua William Sio.

This is the first national celebration of the Cook Islands language with a week of events (6-10 August) inspired by similar celebrations for Maori, Samoan, Tongan and New Zealand sign communities.

The theme for the week is; Taku reo ko toku ia akairo my language gives meaning to my existence and identity.

This is an important message already embraced by the community here and overseas, Sua William Sio said.

However, the Governments record on bilingual education is mixed. While I want to commend the Cook Islands Development Agency New Zealand for developing four Cook Islands bilingual language books - which will be launched this Friday - there is no indication as to whether the Government will recommit to the TUPU series and Folauga journals it put on hold.

The community remain concerned by the Governments removal of the Pacific language bilingual plan from its overall strategy, including the TUPU resource series for Cook Islands children, and believe Pacific bilingual language education should be reinstated.

It is worrying that almost 80 percent of Cook Islanders living and going to school in Auckland cannot speak their indigenous language. We all know that remaining fluent in a language takes a lot of effort.

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Cook Islands language week highlights bilingual education

6 August 2012 Last updated at 19:36 ET

Fires on Spain's Canary Islands have destroyed more than 4,000 hectares (9,900 acres) of land, including part of a UN World Heritage site.

The Garajonay National Park on the island of La Gomera is home to hundreds of plant species, some of which are unique to the island in the Atlantic.

Firefighters later managed to stop the advance of the blaze, which they suspect was started deliberately.

A fire on the neighbouring island of La Palma was also contained on Monday.

Spain has been hard hit by forest fires this year after experiencing its driest winter in 70 years.

The firefighters said La Gomera's difficult terrain - particularly the island's deep ravines - had made it difficult to tackle the blaze.

"The ravines act as genuine chimneys for the fire when the wind blows," the head of La Gomera's regional government, Paulino Rivero, told reporters.

A number of houses were gutted in one village inside the Garajonay National Park. Local residents were evacuated after the fire erupted on Saturday.

The park is home to nearly 500 plant species, including rare subtropical forests.

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Fires hit Spain's Canary Islands

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VIDEO: Wildfires rip through Canary Islands

Argentina has set itself on another collision course with Britain by planning to use seized energy company YPF to search for oil around the Falkland Islands, according to reports.

State-controlled YPF, formerly owned by Spain's Repsol, is teaming up with Venezuelan oil giant PDVSA to explore the area.

"We discussed the need for oil and gas exploration in the territory and offshore areas, adjacent to the Falklands, but we have to analyze the costs and time," PDVSA president Rafael Ramirez Carreno told Argentine newspaper Pagina12 .

The executive said he spoke with the president of YPF, Miguel Galuccio, in Buenos Aires last Wednesday.

Argentina's move threatens to further antagonise the UK government on the 30th anniversary of the war the two fought over the Falkland Islands .

Earlier this year the Argentine government sent a letter to 15 British and American banks threatening them with legal action for advising companies exploring for oil around the islands.

The British government tabled a White Paper in June officially pledging to defend the islands and declared there would be "no weakening" in the country's resolve.

Mr Carreno said the prospective investments are the result of joint-ventures in Venezuela between the two South American (Frankfurt: A0MLL6 - news) countries.

"We have a field in the [Venezuelan] Orinoco [Heavy-Oil] Belt, which produces 130,000 barrels a day," he said. "We will increase that production to 160,000 barrels and develop another field, which would produce another 200,000 barrels."

The Orinoco Belt is an area of 21,357 square miles (55,314 square kilometers) in the east of the country that has some 235,000m barrels in proven reserves.

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Argentina 'to use YPF to search for Falkland Islands oil'

President Ma Ying-jeou yesterday proposed a peace initiative to address territorial disputes over the Tiaoyu Islands, urging neighboring countries to show restraint and to seek peaceful means to settle the issue.

Under what he called the East China Sea Peace Initiative, Ma urged all parties to refrain from taking antagonistic actions, shelve controversies, observe international law and resolve disputes via peaceful means.

All sides should also seek consensus on a code of conduct in the East China Sea and establish a mechanism for cooperation on exploring resources in the region, the president told a ceremony marking the 60th anniversary of the Treaty of Peace between the Republic of China and Japan.

Ma also reiterated Taiwan's claim to sovereignty over the islands, also known as the Diaoyu Islands in China and the Senkaku Islands in Japan.

Taiwan, Japan and China have been involved in heated disputes due to competing territorial claims over the Tiaoyu Islands located in a resource-rich region for several years.

According to experts, Ma's remarks yesterday were effective in declaring Taiwan's stance to the international community concerning the controversy.

Ma is voicing his hope to the United States and Japan that the Tiaoyu Islands issue can be resolved peacefully, at the same time expressing his stance to China that Taiwan will not back down from its declaration of sovereignty over the islands, said Huang Chieh-cheng, assistant professor with Tamkang University and former vice chairman of the Mainland Affairs Council.

Ho Si-shen, Japanese professor with Fu Jen Catholic University, said Ma's intentions were to prevent the territorial row from escalating and to make the government's stance on this issue clearer.

Ma wants the Tiaoyu Islands to become islands of opportunity, not catalyst of conflicts, he said.

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President unveils disputed islands peace initiative

Taiwan President Ma Ying-jeou yesterday proposed a peace initiative to address territorial disputes over the Tiaoyu Islands, urging neighbouring countries to show restraint and to seek peaceful means to settle the issue.

Under what he called the East China Sea Peace Initiative, Ma urged all parties to refrain from taking antagonistic actions, shelve controversies, observe international law and resolve disputes via peaceful means.

All sides should also seek consensus on a code of conduct in the East China Sea and establish a mechanism for cooperation on exploring resources in the region, the president told a ceremony marking the 60th anniversary of the Treaty of Peace between the Republic of China and Japan.

Ma also reiterated Taiwan's claim to sovereignty over the islands, also known as the Diaoyu Islands in China and the Senkaku Islands in Japan.

Taiwan, Japan and China have been involved in heated disputes due to competing territorial claims over the Tiaoyu Islands located in a resource-rich region for several years.

According to experts, Ma's remarks yesterday were effective in declaring Taiwan's stance to the international community concerning the controversy.

Ma is voicing his hope to the United States and Japan that the Tiaoyu Islands issue can be resolved peacefully, at the same time expressing his stance to China that Taiwan will not back down from its declaration of sovereignty over the islands, said Huang Chieh-cheng, assistant professor with Tamkang University and former vice chairman of the Mainland Affairs Council.

Ho Si-shen, Japanese professor with Fu Jen Catholic University, said Ma's intentions were to prevent the territorial row from escalating and to make the government's stance on this issue clearer.

Ma wants the Tiaoyu Islands to become islands of opportunity, not catalyst of conflicts, he said.

With reports from CNA

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Taiwan president unveils disputed islands peace initiative

GEORGE TOWN, Cayman Islands - One among thousands of lawyers, accountants and other workers from around the globe, Paul Fordham is escaping cold weather and the taxman by working in a sunny British territory in the Caribbean. He and many others, however, worry they soon may be looking for another haven.

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In Cayman Islands, planned tax on expats triggers worries that sun is setting on tax haven

Wildfires fanned by fierce winds and high temperatures raged across a western Spanish region and on the Canary Islands on Sunday, threatening to cut off phone contact with one island and forcing the evacuation of hundreds of people, officials said Sunday.

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Wildfires rage in western Spain, islands

Wildfires fanned by fierce winds and high temperatures raged across a western Spanish region and on the Canary Islands on Sunday, threatening to cut off phone contact with one island, killing an emergency worker and forcing the evacuation of hundreds of people, officials said.

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Wildfires rage in western Spain, Canary islands

One among thousands of lawyers, accountants and other workers from around the globe, Paul Fordham is escaping cold weather and the taxman by working in a sunny British territory in the Caribbean. He and many others, however, worry they soon may be looking for another haven.

The Cayman Islands have lost some of their allure by proposing what amounts to the territory's first ever income tax. And it would fall only on expatriate workers like Fordham who have helped build the territory into one of the most famous or, for some, notorious offshore banking centers that offer tax advantages for foreign investment operations.

"The discriminatory nature of the tax has stirred up so much uncertainty for people who moved here thinking they knew what they were getting into," said Fordham, an insurance sector specialist from the London area who moved to the main island of Grand Cayman 6 years ago. His recent attempt to sell his house collapsed because an interested buyer was spooked by the prospect of the islands' first direct tax.

In the seaside capital of George Town, where financial experts in casually elegant clothes unwind over beer or white wine, conversations have been about little else since July 25, when Premier McKeeva Bush declared his intention to impose a 10 percent income tax on expatriate workers as part of an effort to bail the government out of a financial hole.

Bush refuses to call it a tax, preferring instead to dub it a "community enhancement fee." The 10 percent payroll levy, as things stands now, will be imposed Sept. 1 on expatriates who earn more than $36,000 a year.

It's a monumental shift for the territory of 56,000 people where zero direct taxation, friendly regulations and the global money they lured in recent decades helped transform the economy of the island chain, a dependency of Jamaica until 1959, from a reliance on seafaring, fishing and rope-making.

Government data show 91,712 companies were registered as of March 2011. A total of 235 banks, including most of the world's top 50 banks, held licenses at the end of June as did 758 insurance companies. Assets for the registered companies totaled $1.607 trillion last September, down from $1.725 trillion a year earlier.

Bush says the tax is necessary to meet British government demands that the territory diversify its sources of revenue beyond the fees and duties it now relies on, that have left his administration with a budget deficit.

"This is not an us-and-them story, no matter how many screaming headlines call this an expat tax," Bush told a crowd of critics and supporters late Wednesday during a four-hour meeting in a school gym, where each side vented complaints against the other.

Opponents argue that a social contract may have been broken by targeting only the roughly 5,875 expatriates who are paid more than $36,000 a year, saying it could drive some away and hurt the financial services and tourism sectors that are now the pillars of the Caymans' economy. Government reports say a majority of the wealthiest residents are Cayman citizens.

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Planned Expat Fee Is Talk of the Cayman Tax Haven

MIAMI (AP) Tropical Storm Ernesto is speeding into the eastern Caribbean sea.

Ernesto's maximum sustained winds Friday are near 50 mph (80 kph) with some strengthening forecast.

The storm is centered about 90 miles (145 kilometers) west of St. Lucia. Ernesto is moving west near 21 mph (34 kph).

Ernesto's current forecast track shows it possibly becoming a hurricane next week as it heads across the Caribbean.

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Ernesto passes over the Windward Islands

Tropical Storm Ernesto churned over open waters early Saturday on a path toward Jamaica and Mexico after dumping heavy rain on islands in the eastern Caribbean.

The U.S. National Hurricane Center said Ernesto was expected to approach Jamaica on Sunday and strengthen into a hurricane on Monday on a route that would take it to Mexico's Yucatan Peninsula by mid-week.

AP

On Friday, Dominica closed its international airport for a second day, while St. Lucia ordered businesses to close for half the day as Ernesto swept through the area. A ferry that travels to Guadeloupe, Dominica, Martinique and St. Lucia also temporarily suspended service.

No damage or flooding was reported on islands affected by the storm. Gusts of up to 50 mph (85 kph) were reported in some areas.

The hurricane center said Ernesto was about 795 miles (1,280 kilometers) east-southeast of Kingston, Jamaica, late Friday and was moving westward at 18 mph (30 kph).

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Tropical Storm Ernesto Nearing Windward Islands

It was a sad experience, he told Danish reporters afterwards. It felt really good the first 500 metres, I had to hold close to Sun Yang [the current world champion] in his waves, but then I could just not keep up anymore.

The others withdrew from me really quickly, I could not keep up, and both technique and strength did not work and then there was not much more I could do.

This week, Joensen has had a TV crew and two radio stations following his every move at the Aquatics Centre. There has, though, been a stumbling block for the small media circus. As they are not IOC accredited, theyve had to wait for coach and swimmer to sneak out of the venue so that interviews can be catered for.

Considering the Faroe Islands' penchant for losing European football encounters by a country mile, Joensen is naturally revered in his country. Despite his failure here, he still will be on his return.

Things are looking good and we havent prepared for anything other than this, so it better work out, Joensens coach and trainer, Jon Bjarnason, told The Telegraph before the 1500m heats.

When a Faroes' sportsman of the year award was inaugurated a few years ago, public popularity saw him win it three years in a row. But organisers soon spoilt the party and scrapped the award. Comically, a footballer of the year award was instilled in its place.

Joensen trains in a 25m pool at his local club Suuroyar Svimjifelag in Vgur. So how come Joensen is in a position to race for a medal at these Games when he trains in the smallest pool to compete at the sports longest event?

People always say that, said Bjarnason. We had 14 days of long course training before Shanghai and Pal came fourth. So it can be done.

Bjarnason is referring to his fourth place at the World Championships in China last year. It was a breakthrough swim and he narrowly missed out on a medal despite being third with only 100m left. No one was expecting it and the commentators had no idea who he was, Bjarnason, 42, adds.

You have to have certain physical attributes at this level. His buoyancy (ability to float on the water), mental strength and muscle fibre combination is essential.

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London 2012 Olympics: Faroe Islands swimmer Pal Joensen 'flops horribly' but still revered as country's greatest

Published: Aug. 3, 2012 at 9:38 PM

MIAMI, Aug. 3 (UPI) -- Watches and warnings were lifted in Caribbean nations Friday as Tropical Storm Ernesto churned away from land, the National Hurricane Center in Miami said.

Ernesto, with maximum sustained winds of 50 mph, was about 210 miles west of St. Lucia and about 340 miles south-southeast of San Juan, Puerto Rico, traveling west at 21 mph, the center said in its 5 p.m. EDT advisory.

All tropical storm warnings and watches were discontinued.

Ernesto was expected to stay on its westerly path for the next few days with a gradual decrease in forward speed, the center said.

On its projected track, Ernesto's center will move across the eastern and central Caribbean Sea during the next 48 hours.

Between 2-3 inches of rain could fall across the Windward Islands through the day, with isolated amounts of up to 5 inches of rain.

Large waves generated by Ernesto will affect the islands and gradually subside, the center said.

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Ernesto targets Barbados, Windward Islands

MIAMI (Reuters) - Tropical Storm Ernesto formed in the Atlantic Ocean near the Windward Islands on Thursday and could strengthen into a hurricane as it races westward across the Caribbean Sea, forecasters said. The storm was expected to hit the southern Windward Islands and cross into the Caribbean early on Friday, the U.S. National Hurricane Center said. Island governments issued storm warnings ...

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Tropical Storm Ernesto threatens Windward Islands