November 27, 2021

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iNews briefs1New Cayman Islands customs enforcement head already shows he is up to the job

Former senior police officer Marlon Bodden has wasted little time in settling down into his new job as head of enforcement at customs.

With the paint hardly dry on his desk four out of five persons were charged and appeared in court this week after being found carrying narcotics at Owen Roberts International Airport during the Easter weekend.

Officials seized over 5 kilos of cocaine and an undisclosed quantity of ganja that had been hidden in hammock slats, shoes and electronics.

Bodden warned that people will be checked and he won’t be apologizing to the public either.

“We are going to do our job and there may be some delays,” he warned during an interview aired on CITN/Cayman27.

Cayman school trip to Washington DC too costly for most

Only 17 Year 6 students out of 90 have been able to afford the $2,300 per child cost of a 5day trip during the Summer that includes the travelling time, to Washington DC.

Originally the cost was over $2,700 but 2 days was cut from the trip and teachers have to pay their own way now.

CONCACAF names award winners for 2013-14 Champions League

TOLUCA, Mexico (Wednesday, April 23, 2014) – The Confederation of North, Central America and Caribbean Association Football (CONCACAF) announced this evening award winners in four 2013-14 CONCACAF Champions League categories after Cruz Azul captured the title on the away-goals rule over Toluca.

The second leg at the Estadio Nemesio Diez ended in a 1-1 draw, following a scoreless stalemate in the opener on April 15 in Mexico City. Mariano Pavone’s first-half goal proved to be the difference for Cruz Azul, which won a record-breaking sixth CONCACAF club championship and its first since 1997.

2013-14 CONCACAF CHAMPIONS LEAGUE AWARDS

Golden Ball

Mariano Pavone (Cruz Azul) won the Golden Ball as the competition’s best player. The Argentine appeared in eight games and scored five goals, including three in a 5-1 quarterfinal win over visting Sporting Kansas City on March 19.

Golden Boot

Raul Nava (Toluca) won the Golden Boot as the tournament’s top scorer with seven goals. He netted in each of the Red Devils’ first five games.

Golden Glove

Alfredo Talavera (Toluca) was the Golden Glove winner as the CCL’s best goalkeeper. The 31-year-old Mexico international appeared in nine games and allowed seven goals.

Fair Play Award

The LA Galaxy won the Fair Play Award for acquiring the least amount of yellow and red cards in the Championship Round.

Cayman boasts first solar-powered charging station in Caribbean

Last Tuesday (22) at Governor’s Square, Grand Cayman, saw the Caribbean’s first solar-powered charging station for electric vehicles.

Although this is the fifth charging station on Grand Cayman it is the only one that is entirely solar powered.

Her Excellency Governor Helen Kirkpatrick opened the station and it coincided with Erath Day.

Cayman’s new Permanent Residency Board to deal with 200 + backlog

There are still over 224 applications for Permanent Residency (PR) the new Immigration PR Board has to wade through from the old system dating back 5 years before they can deal with new applications.

Government overhauled immigration legislation last October making it harder for applicants and a test that is almost impossible to research for the answers.

Cayman’s National Drug Council seeks volunteers with student survey

The Cayman Islands National Drug Council (NDC) is seeking around 80 volunteers to administer its bi-annual Student Drug Use Survey.

The survey seeks information from over 3,000 students across all public and private schools in order for the NDC to study the extent and patterns of alcohol, tobacco and other drugs used among children in grades 7 to 13.

Volunteers are needed to work as field assistants must be adult – 18 and over.

Any interested persons who are able to spend an hour and a half and attend a training session should contact the NDC directly at 949-9000.

Former Head of Insurance Supervision Division at the Cayman Islands Monetary Authority rejoins in Acting Capacity

Morag Nicol has returned to the Cayman Islands Monetary Authority (CIMA) to serve as acting Head of the Insurance Supervision Division. Her appointment is effective Thursday, 24 April 2014.

Mrs. Nicol has been engaged for a period of three months in this capacity. Part of her remit during this time will be to assist in the search for a permanent replacement for former Head, Gordon Rowell, whose employment with CIMA ended in mid-April.

She is no stranger to CIMA. Mrs. Nicol previously worked with CIMA’s Insurance Division from 1998 to 2007, including as Deputy Head of Insurance for five years and Head of Insurance during 2006/07. She also worked with the Authority as an insurance consultant in 2009. Before joining the Authority in 1998, Mrs. Nicol gained ten years’ experience in the insurance industries of the United Kingdom and the Cayman Islands. She holds the designations of Chartered Insurer, Associate of the Chartered Insurance Institute and Certified Fraud Examiner, as well as a B.Sc. in Mathematics and Statistics.

Her private sector work in the development of business risk profiling mechanisms, prior to joining CIMA, proved invaluable in the development and implementation of the Authority’s on-site inspection programme.

Managing Director, Mrs. Cindy Scotland, said, “We are very confident that Mrs. Nicol is the right person to assist the Authority in this transitional period. She is very familiar with the operations of CIMA, has a great deal of experience, and is well respected in the Insurance industry.”

See also today’s Editorial “When is sick leave really sick leave?”

Local attorney who climbed Mount Everest mourns death of Sherpa

Sherpa Pasang Karma who helped Cayman attorney Guy Manning reach the summit of Mount Everest last year is among 16 Nepalese Sherpas buried in Friday’s (18) deadly avalanche on the mountain.

Manning, in mourning the death of Sherpa Karma, said he was by his side all the way and although he was only half Manning’s size he was as strong as an ox.

Kinetic Partners develops Cayman Islands zombie funds team

From Hedgeweek

Kinetic Partners, the global financial services advisory firm, has promoted Jess Shakespeare to member in the Cayman Islands.

Shakespeare becomes a member within the corporate recovery and forensic & dispute advisory team.

Kinetic Partners has strengthened its team in the Cayman Islands to reflect the increase in zombie funds assignments and the call by many investors to exit these positions.

With zombie funds, Kinetic Partners’ focus is to support clients to expedite positions, by implementing bespoke exit strategies for investors in these distressed funds.

Mark Longbottom, member at Kinetic Partners’ Cayman Islands office, says: “Our reputation as leading Cayman liquidators and forensic experts, particularly with our role in a number of recent high profile cases, has driven an uptick in new engagements to service the increasingly complex need of our clients. The growth of our Cayman office and service offering is focused on our experts’ understanding of the challenges which can arise from changing market conditions in a dynamic industry.”

For more: http://www.hedgeweek.com/2014/04/24/201110/kinetic-partners-develops-cayman-islands-zombie-funds-team

Are wealthy buyers returning to the Caribbean?

By James Butterworth From Cayman Islands Real Estate Blog

JC Calhoun, Broker and Owner of Coldwell Banker Cayman Islands Realty researches, writes and publishes his well known and much awaited Market Report bi-annually.

In his latest report JC notes a “freshening in the market” and a “definite increase in activity”. As realtors and brokers, staying on top of global real estate trends is a vital part of what we do. As we peruse reports we find that, in tandem with JC’s predictions and thoughts, investors from the United States, Europe, and Canada have started seeing real buying opportunities and are showing renewed confidence in the Caribbean Market.

UK, USA and Canadian buyers still represent the largest component of foreign demand across the Caribbean and higher disposable incomes from the mid market are looking at the $2.5 to $4.5 million dollar properties.

The weak USD has also caused European investor interest in the Caribbean with an increase of enquires from Sweden, France and Eastern European countries. For example, a European investor looking at purchasing a $2 million property in Barbados would have paid €1.53 million in 2010. In 2013, due to currency rates and price movements, the same property would cost the buyer closer to €1.26 million.

Prime prices softened on Grand Cayman in 2013 but, in tandem with JC’s report, activity is rising, which is an indication of renewed confidence and limited new supply. Sales in 2013 were focused on Seven Mile Beach, South Sound and the Eastern Districts.

It is estimated that prime prices slipped by around 5% on Grand Cayman in 2013 but it is also predicted that price growth will remain fixed in 2014. Sales have been particularly strong in the $1 million to $5 million price bracket with interest from US, Canadian and British buyers as previously noted.

For more: http://www.caymanislandsrealty.com/index.php?action=addon_blog_article&id=756

 

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