iNews Briefs
Queen’s Birthday Garden Party is back in Cayman
As a long standing tradition the Cayman Islands celebrate Her Majesty, Queen Elizabeth II’s birthday in June each year.
Senior uniformed services officers, youth service organisations and the police band are scheduled to take part in a parade in front of the Legislative Assembly on Saturday, 14 June 2014 at 9.00 a.m. Guests are asked to be seated at 8:30 a.m.
The programme also includes the presentation of honours to previously announced recipients: Dr Saratchandra (Sarath) de Alwis-Seneviratne and Thomas M. Wood. In addition those in attendance will learn the names of the 2014 Queen’s Birthday Honours recipients, and the Duke of Edinburgh scheme awardees.
For the first time in over three years, this year’s observance will mark the return of a popular custom – the Government House Garden Party. Held on the front lawn at the Governor’s residence, this event will immediately follow the awards ceremony at 10:15 a.m.
The Garden Party is open to the public. There will be background musical entertainment and light refreshments available.
Looking forward to a successful event, Her Excellency the Governor Mrs Helen Kilpatrick said, “It is my pleasure to reintroduce the Garden Party at Government House as part of this year’s Queen’s Birthday celebrations.”
The dress code is semi-formal day dress and will be enforced. Hats are optional. Inappropriately attire (i.e. shorts, tank tops and swimwear) is not acceptable for both events.
For more information, contact Protocol Office Coordinator Meloney Syms at 244-3612.
Cayman’s Caybrew gets Guy Harvey shark logo
The Cayman Islands Brewery (CIB) has been supporting shark research and the Guy Harvey Foundation has recognised this.
Last Thursday (5) crews applied the new limited-edition logo, featuring world-renowned conservationist and artist Guy Harvey’s painting of a majestic white tip shark to one of Caybrew’s White Tip Lager’s tanks.
CIB has to date raised over $40,000 from sales of White Tip for the Department of Environment and the Guy Harvey Foundation.
New Sunday Hours at Cayman Turtle Farm
The Cayman Turtle Farm: Island Wildlife Encounter will have new Sunday opening hours from 11am to 5pm, beginning Sunday, 8th June.
Opening hours from Monday through Saturday will remain 8am to 5pm. The last guest admission on each day is made at 4:30pm.
The new Sunday hours go into effect for the summer season, and will remain through the end of August.
For more information and admission rates, call the Cayman Turtle Farm: Island Wildlife Encounter on 949-3894, email [email protected] or visit www.turtle.ky
Caribbean Islands get more say over foreign affairs
From Curacao Chronicle
WILLEMSTAD – The Netherlands will emphatically involve the three islands in the Caribbean in the foreign policy of the Dutch Kingdom. This is what has been agreed upon during the Dutch Minister of Foreign Affairs’ visit to Curacao, Aruba and Sint Maarten.
Frans Timmermans’ visit to the Dutch Caribbean was to participate in the Kingdom Consultations on Foreign Relations, which is a joint conference on the foreign policy of the Kingdom. The Prime Ministers of each island are also in charge of foreign relations in their respective governments.
In the Kingdom, Defense and Foreign Affairs are the responsibility of the Netherlands. Timmermans agreed this week to formally consult with the prime ministers of the three countries on an annual basis. In that discussion, the islands can present their priorities in the field of Dutch foreign policy.
One of these priorities is a relaxation of visa policy towards Colombians who want to visit Curacao. Now citizens of this country have to apply for a visa in The Hague. Timmermans has committed to the abolition of the visa requirement.
The four countries have also agreed to start a campaign to make the Dutch Kingdom a temporary member of the UN Security Council. The three countries would then play an active role in this campaign.
Curaçao, since its new autonomous status in 2010, is no longer an independent member of the International Olympic Committee. Timmermans has recently written a letter to IOC president, Thomas Bach in which he expresses his support for the desire of the country to become a member. “If it gets that far and Churandy Martina wins a medal, then we are going to celebrate it together,” Timmermans said
For more on this story go to: http://curacaochronicle.com/politics/caribbean-islands-get-more-say-over-foreign-affairs/
Component parts definition suffers from latent ambiguity says Cayman judge
Grand Court Judge Alexander Henderson dismissed two firearm charges against suspended Royal Cayman Islands Service police officer, Alexander Caraballo-Kelly, because the law suffered from “latent ambiguity”.
Kelly was a serving police officer in Cayman Brac and he was charged of “importing a firearm not in accordance with the terms of either an import or export permit and then having it in his possession”. The “firearm” was actually a “20 round calibre 12-gauge drum magazine” for a 12-gauge semiautomatic shotgun that he owned and had a firearm licence for.
The legal definition of firearm includes “any component part of any such weapon.”
The Judge said many objects form part of a firearm, that by themselves are no different from what may be obtained in a hardware store – nuts, bolts, washers, springs and so on.
“Accepting a literal definition of the phrase ‘component part’ would stigmatise the importation and possession of such minor parts if they are intended for use in a firearm.” He said, “it is silly to suggest that all component parts of a licensed firearm must be licensed separately whenever they are detached.”
There is no definition in the Fireams Law of “component parts”.
Justice Henderson said he found the phrase ‘component parts’ suffered form a ‘latent ambiguity’ that rendered the meaning doubtful. He found “the magazine is not a component part and therefore not a firearm,” and dismissed the charges.
Key West’s Switchboard’s Caribbean Street Fair 7/19/14
From Soul of Miami
Switchboard’s Caribbean Street Fair
Saturday, 07/19/2014 – 12:00 pm – 09:00 pm
Duval Street
Duval Street,
Key West, Florida 33030
Webpage Link
Cost: Free
Join Us for Switchboard’s Caribbean Street Fair on July 19, 2014.
Celebrate Key West’s Annual Hemingway Days at the Caribbean Street Fair on Duval Street! Starting at noon, Key West transforms back to “Papa’s Town,” Florida’s talented artisans and food vendors will display their works. Proceeds from this fair directly support Switchboard 2-1-1 Helpline of the Keys, a non-profit that serves Miami-Dade and Monroe Counties in crisis intervention and informational referral services. To purchase a booth, or for more questions, contact Mary Lou Hoover (305) 292-8445 or email [email protected]
Cayman Brac’s Alexander Hotel will close after all
Cleveland Dilbert, the owner of the Alexander Hotel in Cayman Brac, has announced the hotel will be closed indefinitely.
He said he has lost faith that government will allow him to deal with the stench emanating from the pond next door.
Dilbert’s way of dealing with the stench is to build a marina in the pond and cutting a channel through the reef that has met with opposition from many people including the Department of Environment.
This is the second time Dilbert has announced the closure and some people think this a ploy to put pressure on government to give him the go ahead for the marina.
However, Dilbert said it is because of the bad reviews he is now getting about his hotel that was once at the top but has plunged to the bottom because of the pond stench. He said if he doesn’t close now it could do irreparable damage to his reputation.
Three Barbados fishermen rescued east of St Lucia
From Caribbean360
CASTRIES, St.Lucia, Thursday June 5, 2014, CMC – Three Barbadian fishermen were rescued at sea some fourteen nautical miles to the east of St Lucia on Wednesday after their vessel encountered engine trouble.
The Captain of the vessel – Henderson Mayers reported that they spent three days fishing at sea and were about to head home when the electrical system on the vessel shut down.
The men encountered two St Lucian vessels and used mobile telephones belonging to local fishermen to make a distress call, following which the two St Lucian vessels started towing the stricken boat to shore.
But because of the size of the Barbadian vessel “Kera Lee” – some 33 feet in length, the vessels encountered difficulty and the Marine Police were alerted. over.
The boat with Captain Henderson and his men was towed to the Marine Police base at Vigie, where the men are staying until their vessel is repaired.
Cayman’s Fairbanks Immigration Detention Centre to be handed over to prison authorities
Because of the continual outbreaks by the Cuban migrants currently being held at the Fairbanks Immigration Detention Centre, George Town, Grand Cayman, the prison has been given the responsibility for the management and oversight of the centre.
Cayman’s Premier, Alden McLaughlin, in the Legislative Assembly, announced that Natalie Lavis, a former prison governor in the United Kingdom, has been employed by the Ministry of Home Affairs to assist with the transition.
Turks and Caicos, Belize leading Caribbean tourism growth
By the Caribbean Journal staff
The Turks and Caicos Islands and Belize were the Caribbean’s fastest-growing tourism destinations in the first quarter of 2014, according to government and CTO data.
As reported earlier this month, TCI data reported a 30 percent increase in stopover arrivals in the first quarter, with a total of 105,506 visitors.
Belize country welcomed 101,981 stopover arrivals in the first three months of 2014, a 9.7 percent increase compared to the same period in 2014.
Those were the largest increases of any countries with complete reporting for the first three months of 2014.
The next-fastest-growing destination was the Cayman Islands, which saw a 9 percent increase so far in 2014, according to the CTO data.
In the same period, Grenada saw the sharpest drop in the region, with a 5.5 percent drop in stopover arrivals in the first quarter, while Curacao saw a 4.3 percent reduction in tourists.
For more: http://www.caribjournal.com/2014/06/06/turks-and-caicos-belize-leading-caribbean-tourism-growth/
There is progress with Dart says Cayman government
After Cayman government ministers had said there had been no real progress between them and the Dart Group concerning agreements made with them and the previous United Democratic Party government, Premier Alden McLaughlin said in the Legislative Assembly last Wednesday (4) there was now a better understanding between them.
He would not elaborate except to say he had received an encouraging letter from Dart and he was optimistic an agreement between them could be worked out.
Weak data could lead to flawed development decisions in Caribbean
-From Stabroek News
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Regional data administration specialists were told at a just concluded High Level Forum on Statistics that the Caribbean continues to run the risk of making flawed decisions in key areas of its development on account of deficiencies in information at their disposal.
According to a press statement from the Caricom Secretariat, United Nations Development Programme (UNDP) official Crispin Gregoire who attended the forum in Grenada, had opined that the Caribbean was being disadvantaged by not having the most up-to-date information to guide decision-making.
“This, he said, in turn, limits the development of a framework that is relevant to the Caribbean context,” the statement said.
Video link between Cayman’s Courthouse and Prison used for first time
Six prisoners appeared before Cayman Magistrate Valdis Foldats last Tuesday (3) via video link between Court Room 2 in the Law Courts Building and the prison compound.
This replaced the need for the prisoners to make the journey in person to the courthouse.
An accused person who is confined to prison may appear in court via a live television link to engage in simultaneous visual and oral communication for matters that are not complicated.
The Legislative Assembly passed an amendment to the Criminal Procedure Code on Feb. 1 to provide the legal framework to enable this to be used.
Caribbean alliances key to attracting investment – PwC partner believes region could woo more investors as a bloc
By Jermaine Francis, Staff Reporter Jamaican Gleaner
PORT-OF-SPAIN, Trinidad:
Caribbean nations are being urged to create greater alliances among themselves in their quest to attract private investors from outside the region.
Delivering the keynote address on Day Two of the 2014 CIBC FirstCaribbean Infrastructure Conference at the Hyatt Regency in Port-of-Spain, Trinidad, on Tuesday, Richard DesLauriers, partner at PricewaterhouseCoopers (PwC) in Canada, said the region would be better served if it seeks investors as a bloc than if it approached them as separate states.
DesLauriers said there is not much smaller countries can do to convince bigger investors to enter private-public partnerships (PPPs) geared at improving their infrastructure.
“Efforts probably could be made to better market the Caribbean as a region for PPPs because a lot of the non-Caribbean potential bidders don’t recognise the Caribbean as a market they should be looking at,” DesLauriers explained.
He said small island states generally find it more difficult to persuade big investors that their projects are good enough for financing.
For more: http://jamaica-gleaner.com/gleaner/20140605/business/business2.html
Passengers leaving Cayman must check in on time
Cayman Airways have announced all passengers must check-in on time following many passengers ignoring check-in time requirements and causing the airline delays.
The airline is reminding passengers that airport check-in for international flights closes one hour before departure time and warns that passengers who miss this deadline will be unable to travel on their flight.
For all international flights, Cayman Airways recommends that passengers arrive at the airport two to three hours prior to departure. Passengers who check-in online at www.caymanairways.com are advised to arrive at the airport at least 90 minutes before departure to drop off luggage, or one hour before departure if they have no check-in luggage.
Cayman Airways also reminds passengers travelling on domestic flights between Grand Cayman and the Sister Islands must also check in at least one hour prior to scheduled departure and that check in will close 30 minutes before departure.
CIBC First Caribbean defends closure of bank branches
From Caribbean360
PORT-OF-SPAIN, Trinidad, Friday June 6, 2014, CMC – The CIBC First Caribbean International Wednesday says despite the closure of several branches in the region, the financial institution remains very committed to the development of the Caribbean.
Chief executive officer, Rik Parkhill, who is attending the second CIBC First Caribbean Infrastructure Conference here, says the closure of the branches has more to do with current economics.
“You will see us regionally go through a process where some of the older branches, that just from the cost of being able to renovate them are replaced by newer ones; but I expect that we’ll have more branches on a go forward basis than less.”
Parkhill said despite the economic situation in most of the Caribbean countries, CIBC First Caribbean International is repositioning itself for competition in the future.
“I think we’re going to have to ride out this weak economic performance for a little while longer and that’s what the provision levels in the second quarter were designed to enable us to do; but I expect that we will return to historical levels of profitability at some point in the future,” he added.
The bank has closed a number of its branches in several Caribbean countries including in Grenada and Barbados.
Robber caught and injured by Cayman police commissioner pleads guilty
Jonathan Ramoon pleaded guilty last Thursday (5) when he appeared in Cayman Islands Grand Court to the charges of robbery and possession of an unlicensed firearm in connection with the January 1st hold-up at Diamonds International in downtown George Town.
Over $800,000 worth of jewelry was stolen from the store and Ramoon was run over by Royal Cayman Islands Police Service Commissioner David Baines who happened to be driving past at the time Ramoon was attempting to escape with some of the goods.
Ramoon sustained internal injuries and suffered several broken bones, including his leg hip and arm from Baines’ car and appeared in the dock on crutches.
Two other men, Christopher Myles and James McLean have also been charged with the same offences.
Does Europe Matter?
From Zaks
Thursday morning the ECB rolled out a number of measures to further stimulate the European economy. Yes, there were already signs of improvements in the region. But disinflation remains a nagging concern that they want to nip in the bud before it becomes a more difficult situation (like the 20 year funk Japan went through).
Many of the ECBs moves were widely expected, yet still gave a boost to European and US stock right after the announcement. These programs improve the odds for higher growth in Europe. And that is a positive for worldwide economic growth including the good ol’ US.
The next hurdle for stock investors is the May Employment situation this morning. Gladly, the soft showing for the ADP Report on Wednesday has subdued expectations for this government read on employment making it easier to impress investors. If all goes well, then expect another new high on the way. If not, then this leg of the bull rally will likely stall out for a while as we await the next catalyst.
For more: www.zacks.com
Cayman Kiwanis invite you to Feed a Kid Breakfast
The Kiwanis Club of Grand Cayman invite you to help Feed a Kid Breakfast by supporting their ‘breakfast for dinner’ fundraiser on Saturday 21st June at 6:30 p.m., at the Marriott Beach Resort. The monies raised will help provide school children with a morning meal.
The service club’s Feed a Kid Breakfast programme is in six primary schools and provides a healthy breakfast to children who need it.
The cost of the ‘breakfast dinner’ is $75 and includes a champagne reception, silent auction, 3 course meal with a choice of french or american breakfast and wine.
There will also be a fashion show and music by One World Entertainment.
Tables of 10 are available. To get your ticket call 916-8664.
To learn more about Kiwanis and its programmes go to: http://www.kiwanis.ky/
Fed Has ‘Overmedicated’ the Patient
By Dan Weil From Moneynews
The Federal Reserve has gone way too far in its massive stimulus program, says James Grant, editor of Grant’s Interest Rate Observer.
“First and foremost the patient is overmedicated — that is, the economic patient,” Grant said in an interview with Forbes Media Chairman Steve Forbes.
“[With] stimulus by the bottleful, by the prescription-fill, gradually (and I guess not so gradually), the Federal Reserve has moved to substitute price administration for price discovery,” he noted.
While the Fed has curbed its monthly bond purchases to $45 billion from $85 billion last year, its balance sheet has grown to $4.3 trillion. And the central bank has kept its federal funds rate target at a record low of zero to 0.25 percent since December 2008.
“It seems the Fed’s full-court press on financial markets and pricing thereof has induced a deep complacency with respect to financial assets and has also introduced a sharp degree of optimism or what we might call even inflation in the financial markets.”
That, of course, can cause trouble. For example, “there certainly is a great distortion in the pricing of junk bonds,” Grant stated.
“There has been a succession of interventions since 2007. And they accumulate to immense, improbable, unimaginable amounts of digitized, immaterial money. And they also have given us immense kind of incentives to invest and speculate in new and arguably riskier ways.”
Fed officials themselves are worried about complacency in financial markets. “Volatility in the markets is unusually low,” William Dudley, president of the New York Fed, said after a speech last week, according to The Wall Street Journal.
“I am a little bit nervous that people are taking too much comfort in this low-volatility period. As a consequence, they’ll take more risk than really what’s appropriate.”
Careless driving kills another Cayman Brac Rock Iguana
A female indigenous Rock Iguana in Cayman Brac, tagged as #47 and known as “Tip Top” was hit by a car in the Cotton Tree Bay area of West End and killed.
Careless driving has resulted in a number of these rare iguanas being mowed down by the wheels of vehicles and the Department of Environment is continually urging residents to be careful.
The Cayman Brac Iguana is a very important species for the eco-system and they don’t reproduce nearly as fast as the Green Iguanas.
Please SLOW DOWN!!!! Any sightings or deaths please call volunteer, Bonnie Scott-Edwards on The Iguana Hotline on 917-7744.
Bahamas powerless to stop US spying, says minister
By Travis Cartwright-Carroll, Nassau Guardian Staff Reporter From Caribbean news Now
NASSAU, Bahamas — The Bahamas government cannot stop the National Security Agency (NSA) of the United States from listening to cell phone conversations in The Bahamas, Minister of Agriculture Alfred Gray said on Tuesday.
“We can’t stop them from listening because they listen to everything under the sun,” Gray said outside Cabinet.
“We are a clean government; there is nothing to hide.
“I don’t believe they should be listening. I really don’t believe they should have the right to listen to a government’s conversation, but I believe knowing how technologically savvy they are they can and that’s why we do the right thing, say the right thing.”
Cayman Calico Jack’s is 10
On Friday June 13th the moon is almost full (it was the night before) and Calico Jack’s on George Town’s waterfront will be hosting their 10th anniversary monthly Full Moon party.
To get the party started will be British DJ Tim Cullen from the decks of London’s Ministry of Sound for his third visit to Cayman’s shores.
The Full Moon party is free. Music kicks off at 9 p.m. and the party runs until 1:30 a.m.
M&A Transactions in Bermuda and the Cayman Islands
By Tonesan Amissah and Simon Raftopoulos, Appleby
This article is a guide through the many acronyms associated with regulatory and process requirements associated with M&A in Bermuda and the Caymans. KYC stands for “know your client,” a regulatory objective requiring businesses in these jurisdictions to know who their clients are and what they do. While such laws primarily apply to financial institutions and fiduciaries, they can extend to other parties in certain jurisdictions. Anyone contemplating an M&A transaction in Bermuda or the Cayman Islands should expect to encounter the KYC regime at some point.
Businesses and service providers in Bermuda and the Cayman Islands are subject to stringent anti-money laundering (AML) and anti-terrorist financing (ATF) legislation, both local and international. In March of 2010, FATCA was signed into U.S. law. It primarily imposes a reporting system on U.S. taxpayers holding financial assets outside the United States, requiring them to report those assets to the IRS. But FATCA also requires foreign financial institutions (FFIs) to report directly to the IRS certain information about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest.
The regulatory landscape in Bermuda and the Cayman Islands continues to change in response to global demands for higher levels of anti-money laundering, anti-terrorist financing, tax cooperation, transparency and fund oversight standards. Although these changes have introduced a slew of intimidating-sounding acronyms, with the help of a local advisor there are still opportunities for M&A activity.
See also iNews Cayman story published February 2014 at: http://www.ieyenews.com/wordpress/its-steady-as-she-goes-as-ma-rises-offshore/
Tribute to The Ancestors of Tye Middle Passage
By Vinette K. Pryce From Caribbean Life
The silver anniversary sojourn to Coney Island will mark a landmark Tribute to the Ancestors ceremony on June 14 when faithful celebrants gather at 16th St. & Ancestor’s Circle at Coney Island Boardwalk gather to mark the treacherous sea voyage Africans made across the Middle Passage to reach this continent.
It has been 25 years since People of the Sun Middle Passage begun what has become an annual tradition of acknowledging the watery death trail from the African continent to the Americas. With flowers, music, and a ritual that ends with a seaside a tribute to the ancestors that recalls the contribution of cultural icons who have enhanced the state of the community.
This year a long list of ancestors add to the multitudes lost at sea, during slavery and more recently to natural causes.
Among them: poet Maya Angelou, Pan-African activist Elombe Brath, poet Amiri Baraka, former South African President Nelson Mandela, Mississippi Mayor Chokwe Lumumba, Dr. Mary Umola (founding member of the Collective) and on the 51st anniversary of his assassination Medgar Wiley Evers. The ceremony begins at noon and ends at sundown. Although loyal entertainers will again lend their talents to the ceremony, drummers, spoken word artists and performers are invited to join in the historic, landmark event. For more info. Contact 718-659-4999 or [email protected]
For more: http://www.caribbeanlifenews.com/stories/2014/6/2014_06_02_vkp_seaside.html
Rubis debuts new pure octane gas in Cayman
Rubis debuted it’s new Pure 93 gasoline on Friday 6th June on Grand Cayman.
Pure 93 is high-octane gasoline free of boosters like ethanol and oxygenates.
Donald Gary of Rubis Cayman Islands said, “The main message here is that it’s [Pure 93] pure, right. Pure octane which has not been brought in to Cayman before, it’s the best technology.”
Royal Caribbean workers look to dock suit in High Court
Law360, New York (June 06, 2014, 4:36 PM ET) — A group of Royal Caribbean Cruises Ltd. workers is asking the U.S. Supreme Court to overturn an Eleventh Circuit decision compelling arbitration under foreign law in a putative class action alleging forced labor and wage violations.
The petition was docketed on June 4th.
For more: http://www.law360.com/articles/545741/royal-caribbean-workers-look-to-dock-suit-in-high-court
Apple edges towards Lightning headphone connections
From What Hi Fi
A new specification for headphone manufacturers as part of Apple’s Made-For-iPhone/iPad/iPod (MFi) initiative could well have a significant impact on how we listen to music on the go.
This latest development to emerge from WWDC this week will allow third-party companies to create headphones that can be connected to iOS-operated devices through the Lightning Port.
According to 9to5mac.com, the new spec was “quietly introduced” at the Cupertino giant’s yearly developers conference and could be bad news for the standard 3.5mm headphone jack.
It’s claimed that headphones connecting to iOS devices through the Lightning port will be able to receive a lossless stereo 48kHz digital audio output and send a mono 48kHz digital input. This could pave the way for headphones with superior built-in DACs that bypass the digital-to-analogue converter in the iDevice itself.
Meanwhile, third-party manufactures will also have the chance to make use of Apple Headphone Remote volume controls and other buttons that either launch apps or control playback.
It’s also thought that using the Lightning Port will let headphones get power from an Apple device and therefore remove the need for manufacturers to create products such as noise-cancelling cans with internal batteries.
