Saturday, March 23, 2019

Immigration Law paves way for bright future

Daniel Altneu The new Immigration (Transition) Law, 2018 and Customs and Border Control Law 2018 came into force on Feb. 1 by Order of Cabinet....

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.

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.

CFA conference: The beginning of deglobalization or just a blip?

Bloomberg economist Carl J. Riccadonna said the current “trade war” was more a “trade skirmish” and that globalization was just slowing. Michael Pettis, professor of finance at Peking University’s Guanghua School of Management, in contrast, believes that we have entered a phase of deglobalization.

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.

Offshore M&A deals drop; Cayman remains top center

The Cayman Islands saw more mergers and acquisition transactions than any other offshore jurisdiction in the first half of 2018, as the total value of Cayman deals increased by nearly 50 percent over the second half of 2017.

Interest Rates: The yield curve conundrum

The treasury yield curve has garnered much interest in the news recently. The past few weeks have witnessed a narrowing of the gap between short- and long-term rates dangerously approaching a proverbial inversion. So what is a treasury yield curve? As an investor, why should it matter?

New rules shake up anti-money laundering services

Cayman’s fund industry is facing significant changes under new regulations to fight money laundering and the financing of terrorism.

The changing landscape of litigation funding in Cayman

Businesses that litigate in the Cayman Islands courts have historically had few alternatives to the traditional funding model, i.e., paying a law firm a fixed hourly rate.

Cryptocurrencies no threat to financial stability, yet

Cryptocurrencies are currently not a threat to financial stability, according to the Financial Stability Board, a global regulator that advises the G-20 group of countries.

Gov’t plans public consultation on ‘economic substance’ changes

When late last year, Cayman avoided being placed on an EU tax blacklist by committing to remedy, before the end of 2018, what the EU called a lack of economic substance of Cayman-based entities, few knew what exactly the Cayman Islands government had promised to do.

Disaster Management: Hurricanes put Caribbean newsrooms to the test

A year on from the devastating 2017 hurricane season – one with 17 named storms, 10 hurricanes and six major hurricanes – many Caribbean and Gulf communities continue to recover.

Economy: Time to say goodbye to Goldilocks?

It is widely reported that for much of the past decade, U.S. investors have enjoyed strong returns in balanced portfolios. When looked at in historical context, it becomes apparent that “strong returns” is actually an inadequate description. A balanced portfolio of 60 percent U.S. equities/40 percent 10-year U.S. treasuries has now gone just over nine years without a 10 percent drawdown in real terms, which has eclipsed the previous record set in the roaring 1920s. While returns have not been as strong as they were then, at 11 percent per annum versus 19 percent, many investors are now questioning how much longer there is left in this cycle.

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.

Booming real estate industry reflects economic growth

Finance Minister Roy McTaggart has recently touted the 2.9-percent economic growth Cayman experienced last year, but to many that number is just an abstraction.

Maritime and Aviation City welcomes first zone company

Cayman Maritime & Aviation City and The Civil Aviation Authority of the Cayman Islands announced the registration of its first special economic zone company in May.
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