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Juniors take fourth spot

Jamaican Wesley Brown (right), who finished fourth in his category, is pictured with United States black radio host Tom Joyner (left), after he was presented with a book by Cheddy Parchment, general manager of Breezes Runaway Bay. - CONTRIBUTED PHOTOS

JAMAICA'S JUNIOR Golfers returned to the island on Saturday after recording their best ever finish in the last six years at the Caribbean Golf Association's Junior Championships.

They placed fourth in this year's 19th staging of the competition which concluded on Friday at the Rio Mar Golf Club and Spa in Puerto Rico.

Jamaica's fourth place finish with 106.5 points was seven and a half points short of third place Bahamas with 114 points, Trinidad and Tobago was second with 126.5 points while hosts Puerto Rico captured the Hank James Championship Trophy, amassing 160 points.



Vik, Harvard Golf Champ, Drives Bid to Chip Away Vivendi Assets

July 11 (Bloomberg) -- Alexander Vik, the Norwegian investor attempting to break up French media company Vivendi SA, honed his financial skills at Harvard College, thinking up ways to raise funds for the golf team he captained.

``He was very effective at thinking of ways to raise money,'' says Leslie Greis, a teammate who remembers selling aerial photos of Harvard Stadium in Boston. ``We went armed with these 8-by-10 color photographs to all the tailgates at home Harvard football games and sold them to partially inebriated alums at exorbitant prices.''

Vik, 51, has been using his entrepreneurial skills ever since, starting an insurance firm, investing in real estate and buying software makers. Now he aims to profit from dismantling Vivendi, a former water utility that owns television, mobile- phone, music and video-game assets.



New photos show beauty of Cayman

Ron Scott Sr, Ron Scott Jr, and Gracie Scott, co-owners of Scott Photography Ltd, with one of the new photographs of the Cayman Islands.

Scott Photography Ltd is a new company that specializes in providing photographs of Cayman Landscapes, taken by photographer Ron Scott Jr, to local tourist shops.
The photographs capture the beauty and majesty and mystery of Cayman landscapes and seascapes.

While this is a familiar genre of photography, many of Mr Scott's photographs display a unique approach both in terms of composition and technique.

Ron Scott Senior, who is one of the company's owners, explained that the company had undertaken extensive market research before launching their product. "We used the Department of Tourism's 2003 Exit Survey; it contained statistics on tourists spending habits," he said.



Sewer issue unites House

Legislators from both sides of the House were recently in full agreement that the Government should get involved in a matter at a George Town Strata property - even though it would usually be considered abnormal for an administration to intercede in an issue involving a private entity.

On 3 August 2006 when Opposition Members of the Legislative Assembly heard the Government's request for $320,000 for a new wastewater treatment system - one that would arrest a problem that was threatening public health and safety - they gave an unhesitating nod.

The Minister in charge of the matter, Hon Arden McLean - Minister of Communications, Works and Infrastructure, explained that the wastewater treatment system was needed at the 80 unit Randyke Gardens Properties, where a sewerage system problem had existed for some time and had worsened since Hurricane Ivan.



Primarolo Unveils Plans For New DTAs,

The UK's Paymaster General, Dawn Primarolo this week announced details of the UK's treaty negotiating priorities for the year to 31 March 2007.

She observed that:

"I am pleased to announce the programme of work on double taxation agreements for the year to 31 March 2007. Bilateral double taxation agreements play an important role in facilitating trade investment and helping businesses to deal with tax systems across borders."

The Government reviews the UK's DTA priorities each year to ensure that the treaty network continues to meet the needs of the businesses and individuals receiving income from abroad.

HM Revenue & Customs monitors the DTA networks of other countries and invites representations from business, individuals, representative bodies, other government departments and others with an interest in this area.



Cayman Airways supports Junior Achievement

THE national airline, Cayman Airways, has given reduced fares to delegates who will be attending the 2006 Canadian National Junior Achievement Conference (CANJAC) in Canada.

The national carrier for the Cayman Islands has assisted Junior Achievement by providing reduced travel fares to and from Cayman Brac, Grand Cayman and Miami.

President of Junior Achievement in Cayman, Ravi Kapoor, thanked the airline for its continued support.

"I am pleased with the long- standing support shown by Cayman Airways to Junior Achievement not only this year but also in the past," he said.

For many years Junior Achievement of the Cayman Islands has sent at least eight students and two chaperones to the CANJAC conference, which is held annually in a Canadian city.



Trillions in assets hidden offshore, report says

Offshore tax havens hold trillions of dollars in assets and allow wealthy Americans to avoid paying $40 billion to $70 billion in taxes each year, a Senate panel said in a report being released today.

The investigative subcommittee of the Senate Homeland Security and Governmental Affairs Committee came to that conclusion after delving for more than a year into offshore tax evasion.

In one tax shelter, detailed in the investigators' report, $2 billion in capital gains was sheltered from taxation in an arrangement known as POINT, or Personally Optimized Investment Transaction, which took advantage of offshore secrecy.

Its promoters created the tax shelter by making billions of dollars in securities transactions to generate billions of dollars in capital losses, but the transactions were all fake, the investigators concluded.



(AFX UK Focus) 2006-08-01 17:29 GMT: IRS chief says offshore abuses a problem

WASHINGTON (AFX) - IRS Commissioner Mark Everson told senators Tuesday that a trend toward a world economy helps wealthy taxpayers hide money in complicated transactions offshore, virtually invisible to tax agents.

"We have real difficulties finding out what's going on," he said. "Our challenges are acute and ever-growing. Offshore abuses are a real problem."

Everson testified to the investigative subcommittee of the Senate Homeland Security and Governmental Affairs Committee, which concluded a yearlong study of offshore tax shelters. They concluded that offshore tax havens allow the wealthy to stash trillions of dollars, mostly impervious to tax, regulatory and law enforcement authorities.

The panel said the havens allow Americans to avoid paying $40 billion to $70 billion in taxes each year, with the help of "an armada" of professional advisers.



Global position units grow in uses while prices fall

After starting out by helping pilots get around, navigational device maker Garmin is now more likely to aid a motorist in finding the quickest interstate or the nearest pizza parlor.

But as drivers have snapped up millions of the satellite-reading devices for their cars, the surge in interest has attracted new and bigger players into what had been a rather isolated market.

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