Wednesday, April 24, 2019

Economist: Moderate US growth to impact Cayman

Moderate growth in the U.S. in the context of a wider global slowdown led by reduced consumer demand is going to impact Cayman, especially in the tourism sector, according to Lindsey Piegza, chief economist at Stifel Fixed Income.

Offshore insolvency petitions on the rise

The number of insolvency petition filings in offshore jurisdictions increased significantly in 2017. The jump in petition filings was based on more activity in the British Virgin Islands and Mauritius, which offset falls in the Cayman Islands and Isle of Man, according to a report from offshore law firm Appleby.

Post-Irma, BVI financial sector propping up struggling territory

Traveling to the British Virgin Islands for the first time since the territory was devasted by Hurricane Irma last September is an eye-opening experience for those familiar with what was once a flourishing, high-end tourism destination.

Brexit, Silk Road and de-risking – the future of offshore centers

It is difficult to see a bright future for offshore financial centers amid media attacks, international tax information exchange, initiatives to curb cross-border profit shifting by multinational companies, anti-tax avoidance measures, transparency efforts that erode financial privacy and more extensive compliance rules.

The normalization of market volatility

The return of market volatility over the first four months of 2018 has come at an interesting time in the global economic cycle.

Not for love or money

The next time you meet your Money Laundering Reporting Officers (MLRO), spend a moment to chat with them and to fully understand the demands of their role, the conditions under which they work, and try to assess how enviable or not, their job is. Some would say their role is thankless but essential.

UK pressure causing water companies to leave Cayman

The “tax haven” stigma has come back to bite Cayman again, this time in the form of recent announcements by a handful of United Kingdom water companies that they will be shutting down their Cayman-based subsidiaries.

Rapid technological advances outpace risk management

Risk management processes are not sufficiently taking account of the business risks associated the rapid adoption of emerging technologies, according to a report by insurance broker Marsh and RIMS, the risk management society.

Regulating cryptocurrencies

Cryptocurrencies like bitcoin, blockchain technology and initial coin offerings (ICOs) have been the buzzwords in the tech sphere for the past couple of years.

‘Med Tech’: Spending as fast as you can just to keep up

The April classified advertisement is a little scary, seeking a “systems engineer,” listing a dozen profoundly technical skills an applicant should have in order to gain the $65,000-$77,000 position at the Health Services Authority.

The changing landscape of telecommunications

Just several years ago, companies like Digicel were largely known as mobile phone providers. But with the exploding popularity of WhatsApp and other applications that allow people to text and make voice calls over the internet, telecommunications companies can no longer rely on selling prepaid and postpaid bundles of minutes to make the bulk of their revenue.

Getting inflation right in 2018

Had the Cayman Alternative Investment Summit taken place in early January instead of February, all the talk about investment risks and threats to the economy would have been about geopolitics.

Cayman aims to capitalize on blockchain boom

Though the price of Bitcoin has fluctuated wildly since its inception – with some economists expecting it and other cryptocurrencies to be speculative bubbles – that uncertainty has not dampened the momentum of the technology that underpins cryptocurrencies: blockchain.

Experts mull future at Cayman Economic Outlook 2018

A list of speakers that included some of the world’s most prominent futurists and technology consultants discussed a variety of topics last month at the 15th annual Cayman Economic Outlook conference.

Residential real estate growing by double digits; commercial ready to soar

The complaints nibble at the edges of their optimism, but the upbeat mood among real estate brokers remains firm, though things could be even better – and South Sound is still booming.

Improving operational efficiency is top priority for private equity CFOs

Faced with increased competition, investor scrutiny and pressure on fees, private equity financial chief officers are looking to increase operational efficiency, but according to the EU 2018 Global Private Equity Survey, there is not a single clear strategy followed by the industry.

Weathering the storm in volatile stock markets

For the last several years, stock volatility had become all but a distant memory.

Is it time to worry about equities?

After a phenomenal 2018 start, U.S. equity markets caused a bit of a commotion in early February, giving up all gains to-date.

More than 30 years of CIREBA, Cayman’s only real estate association

Founded in 1987, the nonprofit Cayman Islands’ Real Estate Brokers’ Association annually oversees nearly three-quarters of all local realty transactions, listing at any given time an average of 1,500 properties valued around $1.6 billion.

Carrying on the Chamber’s mission

The Cayman Islands Chamber of Commerce has a new face at its helm as of last month, with Paul Byles replacing Kyle Broadhurst as the organization’s president. However, not much will change under the new president’s leadership, Byles told the Journal last month.
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