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Cayman Islands News, Articles and InformationLittle Cayman Airport plans revived: MinisterThe development of the airport at Little Cayman will continue under the current administration, and may start this year, according to Tourism Minister, the Hon Charles Clifford, who has responsibility for Cayman Islands Airports Authority (CIAA).Initial plans for the new runway were approved in August 1999 by the Cayman Brac and Little Cayman Development Control Board (DCB). Approval was appealed by several individuals, but the Appeal Board upheld the decision of the DCB. In August 2003, then Aviation Minister Gilbert McLean announced at a public meeting on Cayman Brac that the position of the proposed new runway on Little Cayman had been "tweaked south to avoid deep swamp area". These amendments to the Little Cayman Airport plan, passed in 1999, have not been approved by the DCB, and must be resubmitted to the Planning Department. Man attacked with machete on the BracAn incident on Cayman Brac involving a machete attack is not typical for the Island, according to Chief Inspector Reginald Branch, who heads the Brac Police Station.According to a report from the Royal Cayman Islands Police Service, (RCIPS) a 42-year-old man was taken into police custody following the incident which took place on Monday, 13 June at the Watering Place Park, Cayman Brac. The Park, known locally as "Pop-a-Top", is located on the Beach at Tibbetts Turn on the north side of the Island and is a popular area for Brac residents to socialize. At approximately 6.45 pm the 911 Emergency Communications Centre received a call from a member of the public reporting that a fight had occurred between two men at the public park. Officers attended and found a 32-year-old man had sustained serious injuries from a machete used for cutting wood. What Contest?Generally speaking, Porsche owners don't have anything left to prove, either to themselves or to the world. They've already made it. They've got money, but they've also got enough self-confidence that they don't have to embark on the mine's-bigger-than-yours sort of contest which marks the world of fast-car buyers.It's nice to have a Porsche badge on the front of your car, but it's even better to drive the vehicle. So, while Porsches are indeed status symbols, they are also some of the most satisfying cars ever built, from a driver's point of view. Probably more than any other marque, Porsche's products are put to the test: Porsche drivers regularly take their charges out onto the track and push them to the limits. (At a recent Porsche Club Kyalami track day, one of the participants remarked: "What car could you drive to the track, thrash it for 15 or 20 laps and then drive home again?") So, it's no surprise to see the prominent stopwatch mounted centrally on the dashboard in the new Porsche Cayman S.
Mealybug invades Grand CaymanThe Pink Hibiscus Mealybug, a pest that has caused millions in damage to crops and plants across the Caribbean, has been confirmed for the first time at an undisclosed George Town location.While it does not pose a direct health risk to humans, the PHM is highly destructive. It is not known how the pest arrived on Grand Cayman. The pest, which leaves a distinctive cottony substance on plants, first arrived in the Caribbean in Granada and has since spread to 16 other Caribbean islands the Central American mainland, south Florida and Guyana. The Department of Agriculture, in collaboration with other government agencies, received confirmation of the infestation from a Florida laboratory specializing in identifying the PHM on Wednesday.
Ogier Cayman Islands: Are Hedge Funds In Private Equity Concerning?Over the past five years, the hedge fund market has witnessed exponential growth, with over 8,000 funds now managing an estimated $1 trillion of assets globally. As a result, hedge funds are at a juncture where they find themselves looking for new opportunities for growth. In seeking these new opportunities hedge funds have begun to encroach on the hunting ground of private equity funds, by providing debt or equity financing for the acquisitions of unlisted companies, including taking large, sometimes controlling, equity positions and assuming more shareholder-activist stances. How does this affect hedge fund investors?Hedge funds and private equity defined Historically, hedge funds and private equity funds have been distinct investment categories for investors....
Digicel Sights Mobile Content Growth in Caribbean MarketKINGSTON, JAMAICA -- (MARKET WIRE) -- June 30, 2006 -- Digicel, the fastest growing mobile provider in the Caribbean, predicts a growing market for mobile content in the region as penetration of cutting-edge handsets continues to increase among its customers. The company notes that sports content is a key area that taps a cultural common ground throughout a diverse group of countries in the pan-Caribbean region. As Caribbean nations continue to advance technologically, fans across the region are swiftly beginning to interact with sports content on their mobile phones. A key factor in the adoption is Digicel's ability to roll out state of the art GSM infrastructure from partners such as Ericsson and handset manufacturer KONKA that can support customers growing demand for mobile content.
Reconnect Seven Wonders Featuring 'Camp Cayman' at The Ritz ...GEORGETOWN, Grand Cayman, June 27 /PRNewswire/ -- Young guests at The Ritz- Carlton, Grand Cayman can immerse themselves in their passion this summer whether it's water, wind or racquets. Eco-excursions with Ambassadors of the Environment by Jean-Michel Cousteau, Caribbean sailing courses and tennis clinics conducted by Bollettieri pros comprise Camp Cayman. These programs are customized for ages eight - 18 and ensure that the phrase "I'm bored" never interrupts your family's Caribbean vacation."Our customers want their children to have meaningful, memorable experiences while on vacation," said Vice President and General Manager Jean Cohen. "Our innovative AOTE program and the Camp Cayman package fulfill their desire for enriching activities to keep the kids both busy and entertained." As an additional incentive for families making last minute summer plans, the cost of Camp Cayman is partially covered by the daily resort credit offered by The Ritz-Carlton, Grand Cayman Reconnect Seven Wonders package.
Canada: Looking For Offshore Investors? - Consider Listing Your ...The Canadian hedge fund industry has grown dramatically over the past decade. Where previously there were only a few participants in the Canadian hedge fund space, today there are several highly skilled Canadian hedge fund managers - many of which are ready to export their expertise globally. To access foreign investment, a Canadian hedge fund manager will often establish an investment fund in an offshore jurisdiction, such as the Cayman Islands or British Virgin Islands.... .
Ogier Cayman Islands: Some Current Structuring Trends In Asian Hedge FundsThese are exciting times for Asian hedge funds. A recent report put together by Hedgeweek on Asian Hedge Funds was full of upbeat statistics compiled by regional based consultants and industry directories. To give a flavour of the progress made by the alternative investment industry in the region, it is estimated that worldwide there are now more than 650 Asia-focused hedge funds with assets under management of close to USD100 billion as at the end of 2005. This represents a five-fold increase in assets under management since 2000 and is to be seen in the context of the alternative investment industry as a whole where assets under management are estimated to be around the USD1.2 trillion mark.... .CU dividend gets boostCivil servants who are members of Cayman Island Civil Service Association Cooperative Credit Union will be getting a six per cent dividend on their 2004 –2005 shares.The six per cent dividend was voted on by a majority of the credit union’s 9,000 members, despite the advice of the board to accept a more restrained 4.5 per cent payback. The difference will come from the credit union’s development fund, money originally allocated for property development. Treasurer Lem Hurlston, former Cayman Islands Financial Secretary, is a long–time member of the board. "We recommended a smaller percentage because earnings were down, but the six per cent decision was constitutionally proper," he said. The decision was made at the credit union’s 2004–2005 AGM held 5 June.
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