Local News
Unprecedented Warmth in Oceans Sparks Alarming Prediction for Atlantic Hurricane Season
Researchers at Colorado State University (CSU) have revised their seasonal forecast for the 2023 Atlantic hurricane season, now predicting above-average activity. Initially, the forecast anticipated below-normal activity due to the anticipated dominance of a developing El Niño. However, warmer sea surface temperatures in the main development region of the Atlantic Ocean have overridden the expected El Niño impacts, creating favorable conditions for tropical cyclone formation.
The updated forecast, released on July 6, calls for a total of 18 named storms, which includes both tropical storms and hurricanes. This is four more than the normal average of 14. Among the 18 forecasted storms, nine are expected to reach hurricane status, with four of those potentially becoming major hurricanes (category 3 or higher). In comparison, an average hurricane season typically produces seven hurricanes, three of which are major.
It is important to note that this forecast does not predict the timing, location, or tracks of the storms. However, states along the Gulf Coast and the Atlantic seaboard are advised to be prepared for potential tropical impacts throughout the hurricane season.
The CSU researchers will release another forecast update in August to provide further insights into the evolving hurricane season. In the meantime, residents and authorities are encouraged to take necessary precautions to protect their families and properties from potential tropical threats.
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Local News
British Virgin Islands Financial Services Commission Welcomes New Leadership
The British Virgin Islands Financial Services Commission (BVIFSC) has announced new appointments to its governing board, with Mr. Gerard St Clair Farara KC stepping in as Chairman and Ms. Patlian Johnson as Commissioner. The appointments, confirmed by the Ministry of Financial Services, Labour, and Trade, mark a new chapter for the commission as it seeks to strengthen the territory’s financial services sector.
Mr. Gerard St Clair Farara KC has been appointed to a three-year term as Chairman, effective August 1, 2024. A seasoned legal expert with a distinguished career, Farara currently serves as a Commercial Court Judge for the Eastern Caribbean Supreme Court and leads the litigation team at the BVI office of COLLAS CRILL, formerly Farara Kerins. Farara’s prominence in the legal community is further highlighted by his appointment as Queen’s Counsel in 1996, cementing his standing as a leading figure in the Virgin Islands Bar and the broader Eastern Caribbean.
Ms. Patlian Johnson will serve a one-year term as Commissioner, also beginning on August 1, 2024. Johnson, a Strategy and Policy Advisor with extensive experience, currently holds the position of National Coordinator for the UNDP Project Office. She brings an impressive academic background, including a Master of Science in Economics and Finance from the University of Bristol and a Bachelor of Science in Economics and Accounting with First Class Honours from the University of the West Indies, Cave Hill Campus.
The pair will replace outgoing Chairman Mr. Robin F. Gaul and Commissioner Mr. Melvin A. Turnbull, whose terms have concluded. Minister of Financial Services, Labour, and Trade, Honourable Lorna G. Smith, OBE (AL), praised the new appointments, stating, “I am delighted to welcome Mr. Farara and Ms. Johnson to the BVIFSC Board of Commissioners. Their combined expertise will be invaluable as we continue to navigate the challenges and opportunities facing the financial services sector.”
Smith also expressed gratitude to the departing board members for their significant contributions to the growth and stability of the territory’s financial services industry. According to the Government Information Service (GIS), these appointments underscore the Virgin Islands’ commitment to maintaining a well-regulated and competitive financial services sector.
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