Monday, March 27, 2017

‘Year for Tourism’ celebrates record prices and rebuilds

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.

Construction industry reports recovery, cautious optimism

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.

Wall Street starts 2017 with tailwind

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.

Facts in the age of post-truth, truthiness and Trump

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.

Cayman captives gain complexity

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.

After Brexit vote, pound resumes its long-term decline

The British Brexit vote has caught many market participants off guard, particularly in the foreign exchange market.

ETFs continue to disrupt asset management industry

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.

‘It’s regulation, stupid’

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.

Easing of US-Cuba relations could hit Caribbean tourism

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.

After the UK referendum: The impact of Brexit on non-European hedge funds

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.

Financial services making big bets in blockchain

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.

One giant ice maker and other energy innovations hitting Cayman

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.

South Sound, Seven Mile Beach property ‘on fire,’ inland still lags

The consensus appears unanimous: Real estate brokers say things are great, and anyone checking out the market must agree that they are.
Annual Contrarian Stock Perfomance

Investment: Contrarian investing – Bucking the trend does not always pay off

Acting counter-cyclically as an investor sounds like a plausible investment strategy, but successfully implementing such an approach has to be learned.
The Banking Banana Skins 2015 poll

Bankers fear failure of global economic recovery

There is growing unease in the banking industry that a possible failure of the global economic recovery will hurt the still fragile banking system.
Bank of Japan Governor Haruhiko Kuroda sprung another surprise on investors by adopting a negative interest-rate strategy to spur banks to lend in the face of a weakening economy. – Photo: Bloomberg

The interest rate’s disappearing act

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.
Moderator Jeremy Hurst, author Rasmus Ankersen, Minister Tara Rivers, Paul Byles, economist Dambisa Moyo and Health City marketing director Shomari Scott, during a panel disucssion at the Cayman Economic Outlook session, ‘Think: Inequality.' – Photo: David Wolfe Photography

No clear solutions for global economic inequality

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
British journalist Jacques Peretti in Cayman

Cayman’s local lesson from the foreign media culture

Paul Byles All the fuss over the recent BBC documentary should not be about its content but rather how we managed to get “spun” so...
David Levy

‘We are facing a secular economic breakdown’

Juergen Buettner The good thing about an interview partner like David Levy is the clear and outspoken messages you get. The chairman of the Jerome...
IMF growth forecast

Economy is ‘uncertain, uneven and underwhelming’

Craig Wright, chief economist at Royal Bank of Canada, admits he is slightly more optimistic than the consensus in his economic outlook. Yet he...
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