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Panama Papers names to be made public Today

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Confidential records of more than 200,000 offshore accounts in the Panama Papers will be published online today.

According to the International Consortium of Investigative Journalists (ICIJ), the Washington-based organization that has been co-ordinating reporting on the records, this is being done in hope that public scrutiny of the newly released material will generate further tips about possible corruption and tax dodging.

Director of the ICIJ, Gerard Ryle says “we think this is a logical next step in the investigation”. He says “We have 370 journalists around the world looking at the data, but it’s so vast, I mean 11½ million documents, we know we’ve missed things.”

Ryle said his organization hopes members of the public will scour the new Panama Papers data release and flag any potential malfeasance they spot.

The information, which has been released in a searchable database, lists:

• The names and addresses of more than 200,000 offshore companies included in the Panama Papers leak.

• The name of anyone listed as a director or shareholder of the offshore companies in question.

• The identities of dozens of intermediary agencies that helped set up and run those accounts through Mossack Fonseca, the Panamanian law firm from which the records were leaked.

Until now, only a number of high profile names have been made public since a group of global media outlets broke the news of the massive document leak last month.

The Panama Papers database allows searching for a person or offshore company by name and then mapping out links between individuals and offshore entities.

Source: Caribbean News Now

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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