The Cayman Islands Tourism Association has declared 2017 “The Year for Tourism,” a declaration that comes in the wake of improving economies in Cayman’s North American markets and a long-awaited recovery at home, boosting arrivals, room inventories, new flights by Southwest Airlines, a new Ministry of Tourism outreach to South America, a residential building boom and plans for at least five new hotels.
The construction industry has rarely been acknowledged as the third pillar in a market driven by financial services and tourism, but Ian Pairaudeau, general manager at McAlpine Ltd., has little patience with that idea.
Thanks to a series of new record highs, the leading U.S. stock market indices had a very successful end of the year. The recent momentum also puts the market in a good position heading into 2017.
The year 2016 will be remembered for Brexit and for the election of Donald Trump to become the 45th president of the United States, for the media and pollsters getting it wrong, for experts being out of touch with “regular” people and for the establishment being oblivious to the extent of public discontent.
Comparing the number of captives in the Cayman Islands – 711 as of Sept. 30 2016, up from 709 captives 12 months ago – would suggest a flat market. But the pure statistics and consolidation in the industry masks a strong influx of new captives and the increasing complexity and amount of business carried out by insurance managers in Cayman.
The British Brexit vote has caught many market participants off guard, particularly in the foreign exchange market.
Exchange Traded Funds (ETFs), that track indexes like the Dow Jones Industrial Average, S&P 500, Nasdaq-100 Index etc., are nowadays very popular among investors – a trend that is reflected in the capital flows.
The spike in LIBOR (London Interbank Offered Rate) for much of 2016 resurrected well-buried fears foreshadowing the 2008 financial crisis. Following the collapse of Lehman Brothers and the run on money market funds that left the prominent Reserve Primary Fund a distant memory, fears surrounding the insolvency of financial institutions came into fair play.
Since the U.S. started loosening Cuba travel restrictions in January 2015, the opening up of Cuba to U.S. tourists spelled potentially bad news for other vacation destinations in the Caribbean.
With the Brexit referendum decided and David Cameron’s resignation announced, we look at the key impact of the referendum decision on the non-European fund industry.
A ship pulls into port with a big delivery. A GPS system confirms the ship is in port and triggers immediate payments to the shipping company and the supplier. The payment, instead of taking two to five business days to cross borders, shows up almost immediately in the supplier’s bank account, with all the agreements and transactions confirmed in seconds across a blockchain system, using cryptography and a distributed ledger instead of a correspondent bank.
The idea is ingenious and simple, and while industry has been familiar with it for some time, the idea of a block of ice as a storage battery is just starting to gain public attention.
The consensus appears unanimous: Real estate brokers say things are great, and anyone checking out the market must agree that they are.
Acting counter-cyclically as an investor sounds like a plausible investment strategy, but successfully implementing such an approach has to be learned.
There is growing unease in the banking industry that a possible failure of the global economic recovery will hurt the still fragile banking system.
Who could have ever imagined a world where you lend money with the full acknowledgement that you will be repaid less than the amount owed? So, rather than receiving interest on your hard-earned cash, you pay the borrower for the privilege of taking this cash off your hands.
While world economic growth is on the rise, inequality has worsened. According to a recent Oxfam report, 62 billionaires now own as much as the poorest half of the world’s population
Paul BylesAll the fuss over the recent BBC documentary should not be about its content but rather how we managed to get “spun” so...
Juergen BuettnerThe good thing about an interview partner like David Levy is the clear and outspoken messages you get. The chairman of the Jerome...
Craig Wright, chief economist at Royal Bank of Canada, admits he is slightly more optimistic than the consensus in his economic outlook. Yet he...