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by Department of Economic Development

THE Department of Economic Development is very pleased to announce that it has joined forces with its Tourism and Motorsport industry partners to provide extra flight and accommodation capacity for visitors wishing to visit the world famous Isle of Man TT Races this year. The Festival takes place from the 26th May until the 8th June 2012. Manx2.com and easyJet airlines will be operating an increased number of flights during the Festival. Manx2.com are putting on extra flights throughout their entire network on various days during the fortnight, with additional flights from Anglesey and Cardiff, while easyJet will be operating more flights from Liverpool airport. More information can be found on their websites http://www.manx2.com and http://www.easyjet.com. Meanwhile, Regency Travel, in partnership with Snoozebox Portable Hotel, have announced that they will be providing accommodation in their temporary hotel comprising of 240 bedrooms. Entirely self-sufficient, it will be conveniently situated in Nobles Park next to the main TT Grandstand in Douglas within the TT village. Each self-contained room consists of a comfortable double bed, thermostatic climate control and an en-suite bathroom, complete with towels and toiletries, and breakfast is included. Bookings can be made through Regency Travel at http://www.iomttbreaks.com. Isle of Man residents have also joined in the spirit of the Festival and there is now more availability on the ever popular Homestay scheme which has been running highly successfully for over 21 years. This unique and affordable option is the perfect way for visitors to get to know the local community and form friendly exchanges. It also has the benefit of learning about the Manx way of life from knowledgeable local residents. Currently there are 340 households taking part in the scheme offering a total amount of 1400 bedspaces. Check out http://www.visitisleofman.com/homestay for more information. This year there is an exciting agenda of events lined up for the TT Festival and visitors are promised a bumper week of fun and action. Race week will see the ever popular stunts, displays, big screen entertainment and spectacular firework display on Douglas Promenade. Meanwhile, Isle of Man Brewery, Heron and Brearley, is gearing up for a gem of a TT in this year of the Queens Diamond Jubilee. Full details of their events will be available from Easter which will include live bands performing Island wide, TT-themed quizzes and a sidecar legends night. New attractions include the Okells Challenge which will involve collecting seven wristbands from pubs around the TT course and dont forget to watch out for the beer pong competitions. Check out http://www.manngo.im for all the latest news. Colin Kniveton, Chief Executive for the Isle of Man Department of Economic Development welcomes the additional availability of accommodation and flights. He explained: The TT period is our busiest time of the year and there is a huge demand for accommodation. However, we are indebted to the support of our Industry partners and the Isle of Man community for working with us to provide additional capacity for our visitors. We are looking forward to an exciting action-packed programme of events for what promises to be a Festival to remember. I wish to thank all the organisations and individuals who have worked closely with us on our plan to offer extra capacity, which will enable more visitors to come and enjoy the most prestigious and exciting motorcycle festival in the world. For more information visit the Isle of Man TT official website http://www.iomtt.com. -Ends-

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Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

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Extra Capacity Available For Isle of Man TT Races

by John Quirk

Manannan returns to service on Friday, March 23 to launch the Isle of Man Steam Packet Companys spring fast craft schedule.

Her first sailing of the season will be the 07.30 to Liverpool, with a return at 11.15. As she did last year, Manannan will primarily service the Liverpool, Belfast and Dublin routes through to the end of the season on November 4.

Manannan will return to the Island on March 12 from dry dock in Birkenhead, where she has undergone extensive maintenance in preparation for the season ahead. A period of sea trials and crew training will follow ahead of her first scheduled sailing to Liverpool.

Isle of Man Steam Packet Company Chief Executive Mark Woodward said: The gearbox issue Manannan experienced last season has been resolved and once again weve invested a considerable amount of money during her time in dry dock to ensure she is fully prepared for the coming months.

Mr Woodward added: Our fast craft services to Liverpool, Dublin and Belfast are ideal for city centre breaks, whether youre looking for a shopping trip or attending a festival or sporting event.

Advance bookings for all three of Manannans routes are looking healthy and I believe much of that is down to the fact that we offer competitive fares, when compared with air travel, and without the extra baggage charges or debit card fees.

For passengers looking to travel further afield, our superb Sail and Rail facility offers greater choice at highly attractive fares. Passengers can book their ferry ticket and an onward train journey throughout the UK rail network at the same time at our Ferry Travel Shop.

Foot passenger ferry fares on Manannan start at 19.00 for a single journey. For further details, visit http://www.steam-packet.com

Original post:
Manannan Returns Signals Starts of Fast Craft Season

12 March 2012

The Democrat-led Senate has adopted an amendment, which would provide a range of further measures for the Treasury Department to take against foreign governments and financial institutions that "significantly impede United States tax enforcement, to the bill to provide for an extension of the United States highway-related taxes.

The provisions of the amendment offered by Carl Levin (D Michigan) and Kent Conrad, (D North Dakota) had previously been included in the Cut Unjustified Loopholes Act, which they had introduced in February.

While the proposals would give the Treasury a set of tools to combat foreign governments or financial institutions that impede US tax enforcement, it was said that those jurisdictions and banks that are complying with the Foreign Account Tax Compliance Act will be viewed favourably. However, for example, for other jurisdictions considered as tax havens, the Treasury could prohibit US banks from accepting wire transfers or honouring credit cards from banks found to significantly hamper US tax enforcement efforts.

"This legislation will grant Treasury a new tool to combat offshore tax havens and financial institutions that stand in Treasurys way of enforcing our tax laws. More must be done to clamp down on these tax havens and other schemes that are often solely designed reduce tax bills, said Conrad, Chairman of the Senate Budget Committee.

I have fought against offshore tax havens for years, and I am glad the Senate has taken another strong step in the fight against foreign governments and offshore banks that help privileged individuals and corporations dodge taxes, added Levin, chairman of the Senate Permanent Subcommittee on Investigations.

The Joint Committee on Taxation had calculated that a similar version of the amendment could reduce the deficit by USD900m over 10 years.

The underlying highways bill looks to renew the excise taxes that finance the Federal Highway Trust Fund (FHTF) programme. As most of those taxes are scheduled to expire after March 31, 2012, action by Congress is now considered to have some urgency.

Read the original:
US Highways Bill Takes Aim At Tax Havens

Savings products that offer clear and consistent rates of interest have helped AIB International Savings secure another offshore banking award win

The Nexus Expat Network awards, now in their eighth year, use a combination of best-buy charts and expert opinion to examine the interest rates paid by offshoots of banks and building societies based in the "sterling offshore" area, which includes the Isle of Man (Other OTC: MAGOF.PK - news) and the Channel Islands of Jersey and Guernsey.

Best Offshore Bank for Expats Overall Award 2012 was awarded to AIB International Savings , with Lloyds TSB International coming in as highly commended. The judges based their decision on which banks offered consistently good offshore rates throughout 2011.The overall award goes to the bank whose savings accounts have most often featured as best buys in different categories, with underlying interest rate comparisons provided by Moneyfacts.

"With interest rates so low, it is all the more important for savers to look out for those savings account providers which consistently offer better rates than the norm," said judge Iain Yule.

AIB International Savings was also the winner in the three sub-categories categories: sterling instant access accounts; US dollar accounts; and euro accounts.

Product diversification is imperative in todays market place," said AIB managing director David MacGregor. "We pride ourselves in being able to deliver both fixed and variable savings products within all three major currencies to both new and existing customers."

Expats shopping around for a new offshore savings account are advised to look for multi-currency availability, transparency and accessibility.

"Savings products should be available in GBP, EUR and USD to enable expats to hold and save in new or current base currency and currency of origin," said Gary Quaggan, head of retail service and operations at AIB International Savings Limited. "Savings products should be easy to understand, have clear terms and conditions, and full details are readily available via hard print or online."

Mr Quaggan also recommends accessibility via telephone banking, as well as internet, face-to-face and postal contact. "Searching independent best buy or comparison websites is always a good idea as a useful starting point," he said.

Read the original:
AIB honoured at offshore bank awards

08:37 GMT, March 12, 2012 WASHINGTON | The $9.6 billion for space programs within President Barack Obamas fiscal year 2013 budget request will boost resilience for U.S. space capabilities but cut some modernization and other programs, Air Force Gen. William L. Shelton, commander of the Air Force Space Command, told a House panel Mar. 8.

Shelton testified on national security space activities before the House Armed Services Committees strategic forces subcommittee, along with Ambassador Gregory L. Schulte, deputy assistant secretary of defense for space policy, Gil I. Klinger, deputy assistant secretary of defense for space and intelligence, and other experts.

The presidents budget request, Shelton said, invests in programs that enhance the resiliency and effectiveness of our space capabilities, namely missile warning, positioning, navigation and timing, satellite communications, space situational awareness and space launch.

A 22 percent drop in the 2013 request from 2012 represents mainly fact-of-life programmatic changes, the general said, along with some very difficult budget decisions leading to cuts to some modernization programs, and restructuring our approach to the Operationally Responsive Space Office, or ORS, and the Space Test Program.

Congress established the ORS in 2007 to shorten the space acquisition cycle while responding to urgent warfighter needs. The Space Test Program has been providing access to space for the DOD space research and development community since 1965.

The command, Shelton said, also seeks to speed the acquisition process for the Advanced Extremely High-Frequency Program, a joint service satellite communications system for high-priority military ground, sea and air assets, and the Space-Based Infrared System, a key part of North America's missile early warning and defense system.

The general said the Air Force Space Command is working closely with NASA and the National Reconnaissance Office to bring stability and predictability to our launch programs.

Schulte told the panel that three elements are critical to the U.S. strategy in space: resilience, promoting responsible behavior in space, and energizing the space industrial base.

Examples of resiliency, he said, include hosted payloads, commercial augmentation, international cooperation and backup capabilities in other domains.

In 2008, the European Union published a draft Code of Conduct for Outer Space Activities and a revised draft in 2010.

Go here to see the original:
U.S. Official: 2013 Budget Targets Space Capability Resilience