Saturday, December 14, 2019

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.

Is global growth stuttering?

2017 can be characterized as a year that should be celebrated. The world’s economy enjoyed synchronized global growth, with all major developed economies reporting positive GDP growth.

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.

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.

Teaching the next generation about ‘money’

As individuals we all hold our own preconceptions of “money,” most of which were formed through our childhood and adolescent experiences. In today’s world most toddlers are able to navigate an iPhone long before being able to count a jar of loose change.

Secular market cycles: What’s your strategy for your portfolio?

Global financial markets have revelled in somewhat of a sweet spot over the last eight years. Most striking are the significant positive returns across major asset classes that historically exhibit strong negative correlation.

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.

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.

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.

Bahamas trying to attract more foreign investors

Government officials in the Bahamas are attempting to stay abreast in the competition for attracting international investors and businesses. The island nation recently passed the Commercial Enterprises Bill, which makes it easier for foreign companies to land there and obtain permits for non-Bahamian workers.

What could possibly go wrong in 2018?

Year to date, global financial markets are on track to deliver some of the strongest cumulative returns on record. Similarly, broad-based U.S. equity indices are experiencing double digit returns above the 20th percentile as of writing. In the words of John C. Williams, president and chief executive officer of the Federal Reserve Bank of San Francisco, “The economy is in a good place.”

Planning, investing and choosing an adviser for 2018

Advisers agree the U.S. and Europe are probably 2018’s best bets, while forecasting modest returns in China and Japan, pondering the risky promise of “emerging” economies and minimizing the headwinds of inflation and unemployment.

EY survey: Hedge fund managers embrace innovation amid challenges

Technology is becoming an important factor for hedge fund managers who are actively seeking to innovate to improve operational efficiency and attract capital.

No escaping risk

Every day, highly experienced investors and thought leaders are sounding the alarm about an impending market crash. Since the 30-year anniversary of Black Monday less than two months ago, the sirens are blaring progressively louder. With an eight-year U.S. equity bull market behind us, coupled with positive GDP growth, the sustained market rally seems too good to be true. On the surface the economy appears to be plodding along, but according to the bears, something is brewing in the depths below.

Dealing with tax compliance

Tax information exchange initiatives like FATCA and more recently the Common Reporting Standard (CRS) are in full motion in most international financial centers and certainly well under way in the Cayman Islands.

Disruption: How stock portfolios can benefit from technological change

Electric cars manufactured by Tesla are still a rarity on the roads in the Cayman Islands, but on the stock market, the U.S. carmaker already is firmly in the fast lane.
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