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The Eastern Caribbean Central Bank (ECCB) is the proud recipient of two global awards for its 40thAnniversary $2 Commemorative Banknote, which was launched in Antigua and Barbuda on 1 December 2023. The ECCB captured the 2023 ‘Bank Note of the Year’ award from the International Bank Note Society (IBNS), as well as the award for ‘Best Limited Circulation/Commemorative Banknote’ from the International Association of Currency Affairs (IACA). The International Bank Note Society selected the ECCB’s $2 commemorative note as the Bank Note of the Year from the pool of almost 100 newly designed and widely circulated banknotes released in 2023. Notes from 15 countries representing three continents (Africa, Asia and South America), five island nations and the Middle East, were nominated for the award. According to IBNS, the EC$2 commemorative note was the overwhelming favourite from the onset of voting. The International Association of Currency Affairs named the ECCB’s $2 commemorative note as its Best Limited Circulation Commemorative Banknote. Two other notes were selected as finalists in this category. Speaking on the ECCB’s weekly video programme, ECCB Connects, Governor of the ECCB, Timothy N. J. Antoine, says these two awards encourage the management and staff of the ECCB to work even harder to serve the people of the currency union. He added that that $2 commemorative note is the very first note issued by the central bank without the image of the British Monarch. The ECCB designed and produced the $2 commemorative banknote note in collaboration with its currency partner – De La Rue. The note features the latest in currency security and innovation and celebrates the region’s heritage. A portrait of the legendary, former West Indies cricketer, Sir Isaac Vivian Alexander Richards, affectionately known in the cricketing world as ‘The Master Blaster’ is also featured on the note. The award-winning $2 commemorative note is available at commercial banks throughout the Eastern Caribbean Currency Union. Cite: ECCB website

A Supreme Court application for the release of Vybz Kartel and his three co-accused was denied on Thursday. The legal team for Vybz Kartel (Adidjah Palmer), Shawn 'Shawn Storm' Campbell, and Andre St. John had submitted a writ of habeas corpus, seeking their clients' release. Presiding judge Andrea Thomas ruled that the detention of Kartel and his co-accused did not violate the constitution. The fourth co-accused, Kahira Jones, is currently involved in a separate legal matter. Kartel and his co-accused were originally convicted in 2014 for the murder of Clive 'Lizard' Williams. This conviction was later overturned by the Privy Council, which directed the case back to Jamaica’s Court of Appeal to determine the possibility of a retrial.

The Independent Regulatory Commission (IRC) has reached its final decision regarding the Depreciation Study, submitted by the Dominica Electricity Company Ltd. (DOMLEC), as part of the ongoing Tariff Review. The Depreciation Study is a critical component of determining the suitable method at calculating depreciation of DOMLEC’s physical assets. The consultation period on the Depreciation Study opened in January 2024 and ended in April 2024. The consultation begun with the publication of a consultative document, followed by an in-person public meeting on February 22nd. Both IRC presenters and DOMLEC’s consultant provided clarification and responded to questions from stakeholders. Stakeholders’ responses to specific consultation questions were documented. IRC issued its formal comments on stakeholder feedback after the public consultation. The Commission advised stakeholders that the higher the depreciation expense, the higher electricity rates would be. On the contrary, a lower depreciation expense would contribute to lower electricity rates to customers. Following that, stakeholders were given another opportunity to respond to the IRC. No formidable issues or objections were raised from the two consultative documents issued by IRC. IRC also received a ‘No Objection Letter’ from DOMLEC’s management on the Commission’s initial decision. The Commission has carefully considered all relevant factors and stakeholders’ input. Therefore, it has been concluded that the Remaining Useful Life Method is most suitable for depreciation of DOMLEC’s assets, instead of the Whole Life approach. It must be noted that through the collaborative effort between DOMLEC and the IRC, the Remaining Useful Life method was proven to be more applicable on certain asset groups. The impact yielded a significant reduction in the depreciation expense for the relevant asset categories. In simple terms, DOMLEC’s original depreciation determination of approximately $20 million was calculated using the Whole Life Method; but this amount was reduced to $12.7 million using the Remaining Useful Life. The Commission’s Decision as outlined in its Document Reference No: 2024/001/D will be made public on May 30th, 2024; and will be published in the Official Gazette. DOMLEC will be obligated to make the amendments to its Depreciation Policy, that aligns with IRC’s approval of its Depreciation Study. This will serve as a guiding principle for the following stages in the electricity tariff review process. The next step in the tariff review process with DOMLEC is consultation on DOMLEC’s proposed Weighted Average Cost of Capital, which looks at the required rate of return for DOMLEC’s shareholders. The Commission expects the consultation period for that matter to begin in June 2024. It is imperative that the Commission consults stakeholders, before making any decisions that impacts the review of DOMLEC’s proposals for new electricity rates. As such, the Commission urges all consumers of electricity to take interest in the developments leading to the final determination of new electricity rates, as we aim to safeguard the interests of consumers and the financial viability of the utility company.

A New York jury has convicted Donald Trump on all 34 felony counts of falsifying business records, marking the first criminal conviction of a former U.S. president. The verdict was delivered in a Manhattan courtroom where Trump had been on trial since April 15. Trump had pleaded not guilty to the charges, which stemmed from a hush money payment made by his former lawyer, Michael Cohen, to adult film actress Stormy Daniels during the 2016 presidential election. Trump remained stoic as the jury foreperson read "guilty" to each count. The jury reached its decision after 9.5 hours of deliberation, which started on Wednesday. This landmark conviction occurs as Trump is positioned as the presumptive Republican nominee for president.

Cite:Press Vatican 🇻🇦

Bounty Killer has announced that he will not be participating in this year's Reggae Sumfest, leading to the cancellation of his planned tribute performance. This decision follows his recent appearance at Sashi at Plantation Cove, St. Ann, just three days prior. On Tuesday, the artist expressed his regret on Instagram, citing unforeseen circumstances that necessitated his withdrawal. Earlier in the year, Bounty Killer had asked fans to suggest artists for his 2024 Reggae Sumfest tribute, excluding Vybz Kartel and Mavado due to unavoidable reasons. Reggae Sumfest traditionally honors artists who have made significant contributions to the genre. Fans had suggested Busy Signal and Wayne Marshall on that Instagram post. Reggae Sumfest has not yet commented on Bounty Killer’s cancellation. However; the festival's 31st edition launch is scheduled for this Thursday in Montego Bay, where further announcements are anticipated . This year's Reggae Sumfest is set to span seven days and feature eight events in collaboration with the Jamaica Rum Festival. Headliners include Beenie Man, Babyface, Beres Hammond, Luciano, Dexta Daps and more from July 14 to 20. According to a statement from the company, the festivities will feature various other fun and exciting elements.

“The Caribbean Examinations Council (CXC®) is aware of the concerns being expressed by our valued stakeholders, based on the premature release of correspondence addressed to the Ministries of Education concerning syllabus suspension. This situation is regrettable and understandably would have caused anxiety among our key stakeholder groups. In order to address the matter, CXC® has scheduled a meeting with the Ministers of Education and will provide a full update to the public, through a press release, thereafter. CXC® assures our valued stakeholders that the requisite actions will be taken in the best interest of all.” Cite: CXC.com

A passenger aboard the Icon of the Seas, the world's largest cruise ship, was reported dead after jumping off the vessel on Sunday, May 26. The unidentified individual leaped from the 1,200-foot-long Royal Caribbean cruise ship shortly after it set sail from Florida to Honduras, as confirmed by the Coast Guard to the New York Post. The cruise ship deployed one of their rescue boats, located the man, and brought him back aboard, according to the Coast Guard. He was pronounced deceased. The US Coast Guard's involvement in this incident was primarily limited to assisting in the search. Cruise tracking data indicates that the ship paused for approximately two hours during the search. Last month, another search was conducted for an individual who reportedly jumped from the upper deck of a different Royal Caribbean cruise ship in front of his family. That incident occurred in the Bahamas.

Themed "Advancing Together: Embracing Innovation for Sustainable Growth and Regional Integration", the Organisation of Eastern Caribbean States' 43rd anniversary celebration will span the month of June. The official anniversary date is commemorated on June 18 every year. This year's calendar of events aims to engage citizens across all ages and sectors of the OECS’ 11 member states. One highlight of the 43rd anniversary includes the launch of OECS French digital platforms including an updated website, Facebook, Instagram, X (formerly Twitter), WhatsApp channel, and a digital pressroom. The introduction of these platforms represents new steps towards increasing communication with OECS' French citizens as part of the broader regional integration movement. Martinique and Guadeloupe are associate member states, and Saint Martin is currently planning its accession to the OECS. Other OECS 43rd Anniversary activities include: OECS in the Classroom School Campaign - May 28 - June 6 OECS French Digital Platforms Launch - June 1 OECS Thanksgiving Service at Benedictine Nuns, Mount of Prayer, Coubaril, Saint Lucia - June 10 The OECS Sports Desk Documentary Premiere: Joseph ‘Reds’ Perreira - June 14 OECS Fun Walk, Saint Lucia - June 16 OECS Colours Day - June 18 OECS Colours Day will be the most widespread activity inviting OECS citizens to wear green, yellow, white, and navy blue. People can share the unique ways they celebrate by using the hashtags #OECS43 and #OECSDay2024. Look out for the unveiling of exciting new billboards in Saint Kitts and Saint Lucia to sensitize citizens on the free movement of people regime of the OECS. Also, sports fans and the many viewers who enjoyed the work of Joseph ‘Reds’ Perreira will get a treat with the YouTube documentary premiere of his work with the OECS Sports Desk. The official OECS 43rd Anniversary webpage in English and French provides information on all the events. Stay connected via the OECS social media platforms where updates and features will be shared throughout the celebration. 🎉 OECS Media Release

On Thursday, Prime Minister Dr. Terrance Drew addressed two major civil lawsuits alleging misconduct in the Federation’s Citizenship By Investment Programme (CBIP). The lawsuits, filed in the United States and St. Kitts, allege that between 2021 and 2022, there were instances of developers offering citizenship for amounts below the statutory minimum investment required. The lawsuit in Florida also claims that these practices are still occurring in another region. Prime Minister Drew stated, that the King’s Counsel has been directed to proceed with this judicial review, and should any investments be proven unlawful, he is ready to take the necessary legal steps under the Citizenship Act to revoke citizenships obtained through fraudulent means. However, he will only act based on solid evidence, ensuring due process for every citizen. These lawsuits were brought forth by Phillipe Martinez and his MSR Entities, who were recently designated as the sole public benefactor of the St. Kitts and Nevis CBIP Public Benefactor Option by the Drew administration. This legal challenge, along with Prime Minister Drew’s readiness to potentially revoke thousands of citizenships, could significantly impact the program, which has been vital to the nation’s economy over the past decade. The CBIP has attracted considerable foreign investment, strengthening the nation’s economic base. Nonetheless, these allegations and potential revocations jeopardize the program’s reputation and future. The Prime Minister’s position could profoundly affect the program’s sustainability. As the judicial review moves forward, the emphasis will be on confirming the legitimacy of previous investments and ensuring all involved parties receive due process. The outcome may critically influence the future of the CBIP and its economic role in St. Kitts and Nevis.

The SLU government is actively addressing employee exploitation and striving to create a fairer job market for Saint Lucian workers by introducing a minimum wage. Prime Minister Pierre and his Cabinet are committed to enhancing the living standards of working-class Saint Lucians. In 2022, Prime Minister Pierre established the Minimum and Equal Wages Commission. This commission, in collaboration with local employers and labor unions, engaged in extensive discussions to propose a suitable minimum wage rate. The proposed minimum wage mandates that employees in Saint Lucia receive at least $1126 per month, $52 per day, or $6.50 per hour. This measure is expected to boost the incomes of approximately 13,000 workers. This new minimum wage is part of a broader strategy to reduce poverty, strengthen the workforce, and ensure a dignified living standard for all citizens. The Minimum and Living Wage Bill, set to take effect on August 1, 2024, is open for public input before its implementation.

The groundbreaking ceremony for the Cabrits Marina took place on Saturday, May 25th, 2024. The Cabrits Marina will be built in an area adjacent to the Intercontinental Dominica Cabrits Resort & Spa, with slips for berthing superyachts of up to 150ft. The marina waterfront will feature food and beverage outlets, retail shops, supermarkets, and a craft market. The plan also includes essential administrative and government support services such as a harbour master’s office, and offices for immigration, customs, operations and maintenance. As Dominica reimagines its tourism product to increase access, improve infrastructure and attract greater numbers of visitors, the Cabrits Marina will enhance our appeal to yachting enthusiasts, contribute to sustained growth of the tourism industry and boost the local economy of Portsmouth and the North. Credit OPM