Archive for September, 2014
Students interns meet potential employers
(CNS Business): Fifteen private sector businesses, one non-profit organisation and 24 government entities took part in the Islands Further Education Centre (CIFEC) Fair, where students had the opportunity to meet with prospective employers for the Year 12 internship programme. Unpaid internships, whether in the public or private sectors, are an integral part of the CIFEC […]
Porsche Cayman to say ‘T’anks A Lot’ for dive bookings
(CNS Business): At the 2014 DEMA show in November the Cayman Islands will be rewarding dive operators who book divers for this destination. The Grand Prize winner, randomly selected from all entries, will get a new 2014 Porsche Cayman for one year, while two First Prizes in ‘T’anks A Lot’ programme will be given to […]
Jail sentence for Cayman-based money launderer
(CNS Business): An investment advisor based in the Cayman Islands was sentenced by a federal court in Virginia Friday to 30 months in prison for his part in a $2 million money-laundering conspiracy, the DOJ and Internal Revenue Service (IRS) said. US citizen Joshua VanDyk (34) pleaded guilty on June 12, having been arrested in […]
New deputy head of CIMA’s Insurance Supervision
(CNS Business): Ruwan Jayasekera was promoted to the Cayman Islands Monetary Authority’s deputy head of insurance on 1 September, having rejoined CIMA in January 2013 as a chief analyst. Reporting to the head of the insurance division, he now manages the day-to-day operations of the division, both on an on-site and off-site basis by providing […]
First Caymanian doctor hired at Health City
(CNS Business): A former head girl at John Gray High School is the first Caymanian physician to work at Health City Cayman Islands (HCCI). The private hospital which, it is hoped, will launch medical tourism as the third leg of the Cayman economy, opened its doors in February this year and Dr Irka Lashany Ebanks […]
Cayman cruise arrivals up 80% in July
(CNS Business): While stay-over tourism figures showed healthy growth for July 2014, cruise ship arrivals for the month rose by 79.63% over the figure for July 2013, with more than 120,000 passengers, up from almost 67,000 last year, according to the last statistics from the Department of Tourism (DoT). There has been a steady rise […]
UK watchdog backtracks on blacklist
(CNS Business): In a complete about-face following its initial blacklisting of the Cayman Islands and subsequent refusal to remove the jurisdiction from its list a ‘High Risk Countries’, the Financial Conduct Authority, which regulates the UK’s financial services industry, has confirmed that the list has been removed from its website and that it does not […]
CIDA offers 3-day directors accreditation course
(CNS Business): The Cayman Islands Directors Association (CIDA) is offering the Directors Accreditation Course (DEAP) again on the 10, 11 and 12 September. The cost of the course for CIDA members is US$1,000. The Accreditation Course is delivered in a condensed period of time and focuses on four areas, Governance, Finance, Strategy and Risk Management. […]
PPM announces electoral reform for 2017
(CNS Business): When voters in the Cayman Islands go to the polls in 2017 all of them will have just one vote, as the ruling Progressives party has now committed to ‘one man, one vote’Â in single member constituencies, as was promised in their 2013 election campaign. Currently voters in four of the six districts […]
WestStar and Cayman 27 sold to Logic
(CNS Business): Cable TV provider WestStar and its TV station Cayman 27 have been bought out by Bermuda-based KeyTech, the parent company of Logic. In an announcement Wednesday, the KeyTech Group of Companies revealed that its subsidiary, WestTel Limited (Logic Cayman) has acquired the Cayman-based company, British Overseas Territory Cable & Telecommunications (BOTCAT), financed through […]
Science takes centre stage at Captive Forum
(CNS Business): Japanese-American theoretical physicist and best-selling author Michio Kaku is confirmed as the keynote speaker for the 2014 Cayman Captive Forum. One of the most widely recognized figures in science in the world today, Kaku, the Henry Semat Professor of Theoretical Physics at the City College of New York, is a futurist, and a […]
AIMA updates DDQ for hedge fund managers
(CNS Business): The Alternative Investment Management Association (AIMA), the global hedge fund industry body, has published an updated edition of its due diligence questionnaire (DDQ), the AIMA DDQ for Hedge Fund Managers. Used by prospective investors when assessing hedge fund managers, the AIMA DDQ is considered to be the industry-standard template. By having a standardised […]
Young Caymanians join Cayman’s marketing industry
(CNS Business): Local marketing and communications firm Tower has recruited two of its past summer interns, Ileana Ebanks and Miriam Mascal, as full time employees, demonstrating the firm’s commitment to the training and employment of young Caymanians in the industry. MD Lynne Byles said that recruiting, developing and training the best young Caymanian talent is […]
Chamber seeks update on revitalization of capital
(CNS Business): The Cayman Islands Chamber of Commerce has asked Planning Minister Kurt Tibbetts for an update on the progress with his ministry’s plan to revitalize George Town. In a letter dated 25 August, the Chamber Council noted that construction started last week on a board walk near the public fish market in George Town, which was one […]
Breaking up because of Basel III: It was good while it lasted
Across the global financial sector, Basel III’s capital and liquidity requirements are forcing banks to forgo low-return capital consumptive activities and, in the process, they are dumping some customers, including hedge funds. Where can hedge funds turn to find new and meaningful relationships? writes Jazeb Jones, the Managing Director of DMS Bank & Trust Ltd.
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