You are here: Home » 2022 » December » Archives for 2nd

GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Schmitt Industries, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important December 12 Deadline in Securities Class Action Filed by the Firm – SMIT

NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Schmitt Industries, Inc. (NASDAQ: SMIT) between September 1, 2020 and September 20, 2022, both dates inclusive (the "Class Period"), of the important December 12, 2022 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Schmitt Industries securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Schmitt Industries class action, go to https://rosenlegal.com/submit–form/?case_id=8823 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries' financial statements from August 31, 2021 to the present included "certain errors"; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Schmitt Industries class action, go https://rosenlegal.com/submit–form/?case_id=8823 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8707756)

ROSEN, A LEADING LAW FIRM, Encourages Opendoor Technologies Inc. f/k/a Social Capital Hedosophia Holdings Corp. II Investors with Losses in Excess of $100K to Secure Counsel Before Important December 6 Deadline in Securities Class Action – OPEN

NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers and acquirers of the securities of Opendoor Technologies Inc. f/k/a Social Capital Hedosophia Holdings Corp. II (NASDAQ: OPEN): (i) between December 21, 2020 and September 16, 2022, both dates inclusive (the "Class Period"); and/or (ii) pursuant and/or traceable to the offering documents issued in connection with the business combination between the Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. completed on or about December 18, 2020 (the "Merger") of the important December 6, 2022 lead plaintiff deadline.

SO WHAT: If you acquired Opendoor securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Opendoor class action, go to https://rosenlegal.com/submit–form/?case_id=9133 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the offering documents for the Merger were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, according to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) the algorithm ("Algorithm") Opendoor used to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (2) as a result, Opendoor was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (3) accordingly, defendants overstated the purported benefits and competitive advantages of the Algorithm; and (4) as a result, the offering documents and defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Opendoor class action, go to https://rosenlegal.com/submit–form/?case_id=9133 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8707706)

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages FIGS, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – FIGS

NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the stock of FIGS, Inc. (NYSE: FIGS): (i) pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company's 2021 initial public offering (the "IPO" or "Offering"); and/or (ii) between May 27, 2021 and May 12, 2022, both dates inclusive (the "Class Period"), of the important January 3, 2023 lead plaintiff deadline.

SO WHAT: If you purchased FIGS securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the FIGS class action, go to https://rosenlegal.com/submit–form/?case_id=9629 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 3, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the registration statement supporting the IPO and defendants' statements throughout the Class Period were false and/or misleading and/or failed to disclose that defendants: (1) inflated FIGS' true ability to successfully secure repeat customers; (2) failed to disclose FIGS' increasing dependence on air freight; and (3) inflated the expected net revenues, gross margin, and adjusted EBITDA margin for 2022. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the FIGS class action, go to https://rosenlegal.com/submit–form/?case_id=9629 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8707654)

ROSEN, RESPECTED INVESTOR COUNSEL, Encourages International Game Technology PLC Investors with Losses in Excess of $100K to Secure Counsel Before Important December 13 Deadline in Securities Class Action – IGT

NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of International Game Technology PLC (NYSE: IGT) between March 16, 2018 and August 29, 2022, both dates inclusive (the "Class Period"), of the important December 13, 2022 lead plaintiff deadline.

SO WHAT: If you purchased IGT securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the IGT class action, go to https://rosenlegal.com/submit–form/?case_id=9234 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 13, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) IGT overstated its compliance with gaming and lottery laws and applicable regulations; (2) IGT and/or one or more of its current and/or former subsidiaries engaged in illegal gambling operations; (3) the foregoing conduct subjected IGT and/or its current and/or former subsidiaries to a heightened risk of litigation and significant related costs; (4) the Company downplayed the full scope and severity of its financial exposure to, and/or liabilities in connection with Benson v. Double Down Interactive, LLC et al., case no. 2:18–cv–00525 (W.D. Wash.) in which the allegations include, among other things, that International Game Technology (a wholly–owned subsidiary of IGT) and DoubleDown Interactive LLC (which IGT sold to DoubleU Diamond LLC in 2017) illegally profited from tens of thousands of consumers in violation of Washington law in connection with their operation of DoubleDown Casino; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the IGT class action, go to https://rosenlegal.com/submit–form/?case_id=9234 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8707648)

India’s Extensive Railways Often Conduit for Child Trafficking

Children working and travelling on India’s vast rail network need to be educated about the perils of trafficking. Credit: Umar Manzoor Shah/IPS

Children working and travelling on India’s vast rail network need to be educated about the perils of trafficking. Credit: Umar Manzoor Shah/IPS

By Umar Manzoor Shah
Karnataka, India, Dec 2 2022 – Deeepti Rani (13) lives with her mother in a dilapidated dwelling near a railway track in India’s southern state of Karnataka. The mother-daughter duo sells paperbacks on trains for a living.

Four months ago, a man in his mid-fifties visited them. Masquerading as a businessman hailing from India’s capital, Delhi, he first expressed dismay over the family’s dismal conditions. Then he offered help.  The man asked Deepti if she wanted to accompany him to Delhi, where he could find her a decent job as a sales clerk or a housemaid. He also told Deepti’s mother that if allowed to go to Delhi, her daughter would be able to earn no less than 15 to 20 000 rupees a month—about 200-300 USD.

The money, Deepti’s mother, reasoned, would be enough to lift the family out of abject poverty and deprivation, enough to plan Deepti’s wedding and bid farewell to the arduous job of selling paperbacks on moving trains.

On the scheduled day, when the man was about to take Deepti, a labourer whose family lives adjacent to her hut informed the police about the possible case of trafficking. The labourer had become suspicious after observing the agent’s frequent visits to the mother-daughter.

When police reached the spot and detained the agent, it was discovered during questioning that he was planning to sell the little girl to a brothel in Delhi.

Ramesh, a 14-year-old boy from the same state, shared a similar predicament. He narrates how a man, probably in his late 40s, offered his parents a handsome sum of money so that he could be adopted and taken good care of.

“My parents, who work as labourers, readily agreed. I was set to go with a man – who we had met a few days before. I was told that I would get a good education, a good life, and loving parents. I wondered how an unknown man could offer us such things at such a fast pace. I told my parents that I smelled something suspicious,” Ramesh recalls.

The next day, as the man arrived to take the boy, the locals, including Ramesh’s parents, questioned him.  “We called the government helpline number, and the team arrived after some 20 minutes. When interrogated, the man spilt the beans. He was about to sell the boy in some Middle East country and get a huge sum for himself. We could have lost our child forever,” says Ramesh’s father.

According to government data, every eight minutes, a child vanishes in India.

As many as 11,000 of the 44,000 youngsters reported missing each year are still missing. In many cases, children and their low-income parents who are promised “greener pastures” in urban houses of the wealthy wind up being grossly underpaid, mistreated, and occasionally sexually molested.

Human trafficking is forbidden in India as a fundamental right guaranteed by the Constitution, but it is nonetheless an organised crime. Human trafficking is a covert crime that is typically not reported to the police, and experts believe that it requires significant policy changes to stop it and help victims recover.

Activists and members associated with the Belgaum Diocesan Social Service Society (BDSSS) run various child protection programs for children from poor backgrounds.

One such program is ‘Childline 1098 Collab’. A dedicated helpline has been established to help out children in need. The helpline number is widely circulated across the city so that if anyone comes across any violation of child rights, they can dial the number.

A rescue team will be dispatched and provide immediate help to the victim.

Fr Peter Asheervadappa, the director of a social service called Belgaum Diocesan Social Service Society, provides emergency relief and rescue services for children at high risk. Children and other citizens can dial toll-free 1098, and the team reaches within 60 minutes to rescue the children.

“The cases handled are of varied nature: Sexual abuse, physical abuse, child labour, marriages, and any other abuse that affects children’s well-being,” Asheervadappa told IPS.

He adds that India’s railway network, one of the largest in the world, is made up of 7,321 stations, 123,542 kilometres of track, and 9,143 daily trains, carrying over 23 million people.

“The vast network, crucial to the country’s survival, is frequently used for trafficking children. For this reason, our organisation, and others like it, have argued that key train stops require specialised programs and attention. Such transit hubs serve as important outreach locations for finding and helping children when they are most in need,” he said.

But not only have the trafficking cases emerged at these locations. There are child marriages, too, that concern the activists.

Rashmi, a 13-year-old, was nearly sold to a middle-aged businessman from a nearby city.  In return, the wealthy man would take good care of the poverty-stricken family and attend to their daily needs. All they had to do was to give them their daughter.  They agreed. “Everyone wants a good life, but that doesn’t mean you barter your child’s life for that greed. It is immoral, unethical, and illegal,” says an activist Abhinav Prasad* associated with the Child Protection Program.

He says many people in India are on the lookout for child brides. They often galvanise their efforts in slums and areas where poor people live. It is there that they find people in need, and they take advantage of their desperation for money.

While Rashmi was about to tie the nuptial knot with a man almost four times her age (50), some neighbours called the child rescue group and informed them. The team rushed to the spot and called in the police to stop the ceremony from happening.

“Child marriages are rampant in India, but we must do our bit. It is by virtue of these small efforts that we can stop the menace from spreading its dreadful wings and consuming our children,” said Prasad.

*Not his real name.
IPS UN Bureau Report

 


!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?’http’:’https’;if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+’://platform.twitter.com/widgets.js’;fjs.parentNode.insertBefore(js,fjs);}}(document, ‘script’, ‘twitter-wjs’);  

St Kitts and Nevis Prime Minister charts new trajectory for twin-island nation at an exclusive event in Dubai

Dubai, Dec. 02, 2022 (GLOBE NEWSWIRE) — The Prime Minister of St Kitts and Nevis, Dr. Terrance Drew, set the tone for the direction his country will be taking at a recent exclusive invite–only event in Dubai.

The event was one of many engagements undertaken by the Prime Minister and his delegation which included the country's tourism minister Marsha Henderson, Attorney–General Garth Wilkin and cabinet secretaries, Dr. Marcus Natta, Sylvester Anthony and Veira Galloway.

The new administration has been leading the country since August this year following a snap election and have set bold ambitions for the twin–island federation to become a premium business hub in the Caribbean that caters to intelligent and discerning investors.

Set against the backdrop of one of the world's most notable success stories, Prime Minister Terrance Drew's first visit to Dubai, signalled his intention to drive economic growth that will make the country a notable contender on the global stage.

Much of this growth will be financed by St Kitts and Nevis' citizenship by investment programme "" the oldest programme of its kind in the world.

Speaking at the event, Prime Minister Drew said, "Since Dubai is such an important financial hub and is swiftly becoming an epicentre for the global citizen, it is fitting that I am here this evening to discuss the attributes of my special nation, and more particularly our renowned citizenship by investment programme that stands apart from others."

"In this ever–changing and unpredictable world, it is imperative that the government of St Kitts and Nevis and its citizenship by investment programme continue to adapt to the needs of our people and to attract the right kind of international investment necessary to uplift our country."

For nearly 40 years, the citizenship by investment programme of St Kitts and Nevis has had a remarkable impact on the country, generating funds that have built and upgraded hospitals, schools, roads and diversified the economy from one mainly rooted in agriculture and tourism to a fledgling manufacturing and finance–centered one.

Dubai has emerged as one of the world's most favourite economic destination for investors, consumers as well as job seekers and tourists. The resource deficient nation has galloped from a primitive social milieu and pre–industrial economic structure to reach what many have called the pinnacle of success.

Dubai derives just 6% of its GDP from oil and gas yet it has grown its economy's size, start ing around the year 2000, displaying annual monetary de velopment rates higher than even China or the Asian tiger economies.

These are some of the insights the St Kitts and Nevis delegation sought to glean from the visit. This year, St Kitts and Nevis' gross domestic product (GDP) grew by 13.39% compared to last year.

The economy of St Kitts and Nevis was traditionally depended on the growing and processing of sugar cane but decreasing world prices have hurt the industry in recent years. Tourism, export–oriented manufacturing, and offshore banking activity have assumed larger roles in the country.

The citizenship by investment programme has been a way for the government to hedge against and revitalize the faltering sugar sector while also bolstering revenue collection to better fund social programs.

With the current global environment asking more of governments around the world, the Drew administration has realized that to meet the needs of both locals and investors it needed to upgrade the programme which has been a financial pillar for the nation.

"The vision to use economic citizenship to attract international investment was innovative in 1984. The citizenship by investment programme's first major evolution 27 years later in 2011 was bold and creative. Now, in the third iteration of its evolution, in 2022, after four decades of erudition and development, we must use that same creativity and boldness to ensure that the programme transcends to the modern age; and the security infrastructure is enhanced and strengthened.

"We need to ensure that our treasured citizenship by investment programme is mutually beneficial for all stakeholders, from the people of St Kitts and Nevis, the investors themselves, to the developers, to the local service providers and the international marketing agents.

"While we have always been the benchmark of the global investor immigration industry, we understand that in order to remain as one of the most sought–after economic citizenship programmes in the world, we need to continue to evolve and forge a path for ourselves that is sustainable in the long term," added Prime Minister Drew.

The Prime Minister has been laser focused and hard at work since taking the helm and has had numerous consultations with stakeholders including local communities, developers, government officials, businesses and investors to understand where the programme was lacking and where updates needed to be made to ensure that the programme continues to meet the needs of an intelligent investment minded person looking for an enriching base for their families and businesses while also, more importantly, uplifting the Kittitian and Nevisian society through beneficial investment options that bring tangible value.

Prime Minister Drew also reassured guests at the event, which included high–level government officials, global investors, government approved agents and promoters, that stakeholders need not be apprehensive of the upcoming changes and that the programme would be guided by three fundamental principles: Sustainability, good governance and pragmatism.

The government has crafted a sustainable model that will continue to be the envy of the international community by injecting high levels of integrity. The programme has also been structured in such a way that it will allow for greater transparency and accountability, the hallmarks of the good governance framework that solidifies the foundation of any successful endeavour. And lastly, the government has tailored investment options to align with market realities while preserving the platinum brand that St Kitts and Nevis has nurtured for four decades.

Bold and innovative strides have been made to strengthen the legislative and administrative structures of the programme and to ensure that real estate projects funded by the programme are completed "" "To this end, let it be known worldwide, that St Kitts and Nevis is seeking well respected and serious investors who see the potential of our nation and who are prepared to put capital behind innovative projects, investments and industries that will enhance our palatability to global immigration investors."

Exact changes and information around the programme will be communicated in 2023.

The visit shows the world that St Kitts and Nevis is open for business and the Prime Minister has identified and discussed new areas of collaboration in advancing economic recovery, stability and reaffirming the solid foundation between St Kitts and Nevis and Dubai.


GLOBENEWSWIRE (Distribution ID 8707527)

Working Together for an Inclusive World

ECW Director Yasmine Sherif Statement on the International Day of Persons with Disabilities

By Yasmine Sherif
NEW YORK, Dec 2 2022 (IPS-Partners)

ECW works together with governments, UN agencies, civil society and the private sector for an inclusive world where all children with disabilities are able to go to school in safe and accessible learning environments. We work together for an inclusive world where the complex challenges of today offer up the transformative solutions of tomorrow.

Yasmine Sherif

As we mark the International Day of Persons with Disabilities, we must not forget the power of education in overcoming challenges.

Worldwide, there are nearly 240 million children with disabilities. These children are 49% more likely to have never attended school. In armed conflicts, forced displacement and climate-induced disasters, it’s even worse. Living with a disability increases a child’s risk of discrimination, abuse and other denials of a child’s human rights.

In support of the United Nations Disability Inclusion Strategy and our global efforts to act now for children with disabilities, Education Cannot Wait works to ensure that at least 10% of our beneficiaries are children with disabilities across our portfolio.

In places like South Sudan, Syria, Ecuador, Ethiopia and beyond, we are working with our strategic partners to improve inclusion, provide specialized services for children with disabilities, and leave no child behind.

The ECW Acceleration Facility is supporting important initiatives that improve access to learning, create inclusive learning policies, and enhance learning outcomes for children with disabilities.

Education Cannot Wait’s High-Level Financing Conference will take place in Geneva on 16-17 February 2023. World leaders will have a chance to make firm commitments to reach the world’s most vulnerable children – especially those left furthest, including children with disabilities – with the safety, power and hope that only an education can provide.

For far too long, our global humanitarian response mechanisms have failed to meet the necessary requirements that guarantee access to education and a meaningful learning experience for girls and boys with disabilities. We must address these inequities today. We must work together today for a more inclusive world for the generations of tomorrow.

IPS UN Bureau

 


!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?’http’:’https’;if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+’://platform.twitter.com/widgets.js’;fjs.parentNode.insertBefore(js,fjs);}}(document, ‘script’, ‘twitter-wjs’);  

Excerpt:

ECW Director Yasmine Sherif Statement on the International Day of Persons with Disabilities

Global Risks in 2022: The Year of Colliding Consequences

By Jens Orback
STOCKHOLM, Sweden, Dec 2 2022 – As 2022 draws to a close, we are confronted with an unprecedented collision of global risks, interacting and reinforcing each other in dangerous new ways.

The impacts of Russia’s invasion of Ukraine are still rippling outwards, colliding and combining like waves on a sea. The heightened threat of nuclear conflict, the global energy crisis, the rising cost of food, deepening poverty and inequality: these consequences are interacting with the ongoing impacts of the COVID-19 pandemic and the effects of climate change.

This confluence of global risks has led to unwelcome new terms entering the dictionary, such as ‘polycrisis’ and ‘multicrisis.’

In the face of such complex challenges, it’s easy to feel helpless and paralyzed. And yet, if this year has shown us anything, it’s that we need an urgent upgrade of our systems of cooperation to tackle them.

It starts with making sure we have the right knowledge. Climate scientist Johan Rockström, a board member of our foundation, has written powerfully on the need for an international consortium of scientists to provide shared insights on the emerging interactions between risks.

At the Global Challenges Foundation, we’ve just released our annual review of global catastrophic risks, risks that threaten the survival of more than ten per cent of humanity. This year’s report shows how, more than ever, our systems and structures for preventing and managing these risks are both outdated and inadequate.

Whether it’s climate change, environmental breakdown, nuclear conflict, pandemics or artificial intelligence, we have a systemic problem with processing and acting on the complex challenges that lie in the intersections.

Of course, there is no one magic solution, given the multilateral system that we inhabit. However, there are many existing proposals to improve the mechanics of global governance that could be immediately fast tracked.

For example, there are several important proposals in the United Nations Secretary-General’s 2021 report, Our Common Agenda. These include the idea for an Emergency Platform that would be triggered by a major crisis such as the use of a nuclear weapon and coordinate the global response.

The report also proposes reviving the UN’s Trusteeship Council, inactive for many years, as a multi-stakeholder body to tackle emerging challenges and to act to preserve the global commons on behalf of future generations.

The failure of the COP27 climate talks in Egypt to agree strong measures to curb fossil fuel production has demonstrated how intergovernmental negotiations are not producing rapid enough action on climate change.

On top of this, the global energy crisis has led to some countries slowing or shelving their green agendas, in a year of extreme temperatures and climate-related crises.

We urgently need to find alternative ways of collaborating to prevent catastrophic climate change. One key proposal is a carbon tax – administered at both global and national levels – with the proceeds going to the communities who are most affected.

The International Monetary Fund concluded that, of all the various recognised strategies to reduce fossil fuel emissions, implementing a carbon tax would be the most powerful and efficient.

Of course, this may not be the easiest ‘sell’ politically during a cost-of-living crisis but evidence from countries like Canada shows that it can be done gradually and sensitively.

The spread of COVID-19 around the world since 2020 has highlighted the linkages between environmental destruction and pandemics. COVID-19 is unlikely to be the last pandemic that humanity faces.

As renowned epidemiologist and public health expert Professor David Heymann writes in his pandemics chapter in our report, as well as tackling the root causes of new pathogens coming into contact with humans, we need to upgrade the international frameworks that govern how countries report on new disease outbreaks.

This means enacting a stronger enforcement mechanism to the World Health Organization’s International Health Regulations, and a Pandemic Treaty.

When it comes to nuclear risk, looming ever larger over Ukraine, it’s now more likely than ever that nuclear weapons will be used in either military actions, miscalculation or by accident than at any time since the beginning of the nuclear age.

The international community must treat all threats to use nuclear weapons very seriously. Even ‘small’ or ‘tactical’ weapons can cause terrible damage and their use would undermine the nuclear taboo in place since their use at the end of the Second World War.

Nuclear expert, and contributor to our report, Kennette Benedict says there is still much more we can do to prevent a nuclear disaster. IAEA Director General Raffael Grossi and his colleagues are doing heroic work to prevent nuclear plant disasters in Ukraine.

The international community must continue to support the agency and provide more funding for IAEA’s work. Explicit protection of nuclear plants in violent conflicts and war should be codified in international law.

Only with a clear understanding of each of the greatest risks facing humanity can we move forward to rethink how we could better manage them. And only with new kinds of global cooperation can we deal with today’s complex web of interlocking and reinforcing global risks to ensure a habitable, safe and peaceful future.

As we say goodbye to this year of global risks, this should be top of our ‘to do’ list for 2023.

Jens Orback is Executive Director of The Global Challenges Foundation

IPS UN Bureau

 


!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?’http’:’https’;if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+’://platform.twitter.com/widgets.js’;fjs.parentNode.insertBefore(js,fjs);}}(document, ‘script’, ‘twitter-wjs’);