Tuesday, June 25, 2019

Cruise pier development: a boon or a bane for George Town Central?

IRG Real Estate Ltd. broker Jeremy Hurst moved to Cayman in 1988, and around that time government was developing a transportation plan that included the revitalization of George Town Central.

Cayman’s financial services showcased to New York audience

Cayman Finance hosted a pair of events in New York on Jan. 22 to showcase the strength of the Cayman Islands financial services industry and its benefits to global partners, particularly those in the United States.

Global corporate tax reform set to receive unexpected push – from the US

There is growing consensus to support a U.S. proposal for the reform of global corporate tax rules, which would limit the ability of multinational companies to shift profits to low-tax jurisdictions, according to the Organisation for Economic Co-operation and Development.

Harmonizing digital and traditional investment through blockchain

With the Securities and Exchange Commission moving to crack down on fraudulent crypto-schemes, the allure of crowdfunding capital through initial coin offerings on blockchain platforms appears to be fading.

Uncertainty remains despite new economic substance rules

Substance legislation passed by lawmakers in December 2018 has laid down the parameters for the way Cayman is responding to pressure by the European Union to reform its tax regime, but many questions remain about the economic impact of the new framework.

Offshore finance centers bracing for substance legislation impact

Cayman’s government and financial services industry professionals have had mixed reactions to the territory’s recently passed economic substance legislation, with some expressing cautious optimism that the new laws will increase investment in the islands, while others are bracing for an exodus of companies.

What’s brewing in housing?

Financial markets were hit with an onslaught of weak economic news across the housing sector recently.

Cayman National has event-filled months since sale announcement

The Cayman Islands is home to billions of dollars’ worth of mergers and acquisitions in a given year, but few have the potential to impact the local community as much as the impending sale of Cayman National Corporation Ltd. to the Republic Bank Trinidad and Tobago (Barbados) Ltd.

Independent directors reluctant to serve on crypto funds

The governance around hedge funds has changed dramatically since the introduction of the mutual funds law in Cayman 25 years ago.

Better metrics than GDP would have enabled a stronger response to crisis

Better measurement of the economy and of people’s well-being could have led governments to respond more strongly to mitigate the damage caused by the 2008 financial crisis and reduce people’s continuing loss of trust in public institutions, according to a new report released by the OECD.

Banking: Is it time for central banks to pause?

It is hard to believe that the 9 percent return on the S&P 500 Index as at the end of September has now completely vanished. U.S. equity markets are now in negative territory for the year to date.

Taking the pledge for gender equality

A group of professionals in the Cayman Islands is campaigning for gender equality in the workplace.

Charity caters for busy women looking to contribute

On Oct. 15, 2015, women gathered for the inaugural Cayman Islands’ chapter meeting of 100 Women Who Care, which culminated in more than $42,500 being raised for the Cayman Islands Crisis Centre, a domestic violence organization – an astonishing amount and a fitting cause, given the group’s female attendees.

Club advocates for local women in business

For more than 40 years, the Business and Professional Women’s Club of Grand Cayman has been working to create a better environment for local women and future members of the workforce.

Economist: Close gender gap to boost economy

Cayman Islands women are a significant under-used resource that could fuel further growth in the islands economy, according to the keynote speaker at the annual tourism conference last month.

Cayman-based Real Vision looks to conquer financial media world

Real Vision founder Raoul Pal, who owns a house on Little Cayman, has ambitious plans for his firm, aiming for it to “disrupt” the media industry and replace outlets like CNBC as the financial journalism outlet of record.

Trust services providers struggle with data protection legislation

Trust services providers can potentially face enormous difficulties when complying with data requests under Europe’s data protection legislation, which gives individuals the right to ask for information held about them by third parties.

New platform automates KYC checks for crypto transactions

About three years ago, Global Risk and Data Authority Limited launched a platform aimed at automating the know-your-client and anti-money laundering compliance processes for banks in Cayman, as well as onshore correspondent banks.

Electric future: CUC plans radical shake-up of energy sources

Cayman’s energy market will need to see a radical transformation over the next two decades to meet the ambitious goals outlined in the first National Energy Policy passed last year.

Ironshore: Cayman’s nascent pharma giant

Cayman is globally renowned for its tourism and financial services, but is not known for having a pharmaceutical industry.
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