The history of the movie industry is filled with challenges and doomsayers predicting the demise of Hollywood. From the introduction of sound to the advent of television, the motion picture industry has always been forced to evolve to stay relevant.
Cayman will remain a successful offshore financial center if it changes the message it has sent out to the world over the past decades, according to Pascal Saint-Amans, director of the Centre for Tax Policy and Administration at the OECD.
Rental prices in Cayman are on the rise and considered expensive by most, but an international comparison shows they are still moderate compared to other international financial centers. Research by RENTCafé, a U.S. apartment search website, places Cayman behind 18 of the top 30 international financial centers in terms of apartment rental costs.
Financial services providers in the Cayman Islands may well be within the scope of new corporate criminal offenses for the facilitation of tax crimes both in the U.K. and in other countries. At an event organized by Cayman Finance in March, officials from HM Revenue and Customs presented details on two new criminal offenses which are going to be introduced by the U.K. Criminal Finances Bill. The bill is currently going through the committee stage in the House of Lords.
In an increasingly competitive market for dispute resolution across jurisdictions, commercial courts still need to work together to uphold the rule of law and support international economic cooperation and prosperity. To do so requires the courts to meet the needs of the business community, said Lord John Thomas of Cwmgiedd, the Lord Chief Justice of England and Wales in a guest lecture at the Grand Court of the Cayman Islands.
The finance industry is just at the beginning of an unprecedented era of disruption. The accelerating speed of technological change and the potential for automation promises massive changes for banks, investment firms and other parts of the financial industry.
Hedge fund investments have been described as failing many times before, so the suggestion that the industry is dead or in decline is an “alternative fact,” according to Mark Yusko, CEO and chief investment officer of Morgan Creek Capital Management.
Public trust in the institutions of government, business, the media and nongovernmental organizations is in freefall, according to a survey in the 2017 Edelman Trust Barometer.In two-thirds of the 28 countries surveyed, more than half of the public no longer trusts mainstream institutions to do what is right.
Although 2016 was far from a breakout year for hedge funds, performance improved over a lackluster 2015, and managers have a more positive outlook for 2017 as stock markets are boosted by President-elect Donald Trump’s plans to lower taxes, deregulate and spend on infrastructure.
2016 has been a tumultuous year. Democracy itself has faced a crisis, and the political establishment has been shaken. Voters in the U.S. and the U.K. expressed their desire for change, regardless of the form this change is going to take and at times fueled by xenophobic sentiment.
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.
Correspondent banking, the collective term for banking services provided by a bank in one country to a financial institution in another, has been the backbone of international banking operations and payments for some time. Smaller banks without a large international network of their own, in particular, rely on their relationships with correspondent banks in other countries to make cross-border payments.
Each year transfer fees in Europe’s football leagues appear to be spiraling out of control. Ever larger television and sponsorship deals have injected more cash into the game and inflated the price clubs have to pay for football’s biggest stars.