October 23, 2020

US warns: Medicare will be insolvent by 2026, Social Security by 2035

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From Newsmax The financial condition of the government’s bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government’s overseers of Medicare and Social Security. It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s update. […]

Abraaj founder ordered to pay litigation costs in Cayman Islands court

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By Pedro Goncalves From International Investment A Cayman judge has ordered the founder of troubled equity firm Abraaj to pay for the costs of a recent hearing in the jurisdiction regarding the company’s restructure attempts out of his own pocket. At the hearing, Abraaj’s largest creditor, Kuwait’s Public Institution for Social Security  argued that Dubai-based company  […]

The top security breaches in history

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While technology exists to make lives easier and more efficient, it also causes as much harm as it does good. In the past several years, cyber attacks have continuously evolved using innovative methods to commit initiate data breach attacks,and most organizations aren’t ready for these sort of cyber attacks. The most common victims for data […]

Nutrition and medical support during pregnancy critical – Jamaica’s Senator Reid

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By Garwin Davis From JIS Story Highlights Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, has highlighted the importance of access to proper nutrition and medical care for expectant mothers in ensuring the healthy development of children. He informed that officials from the Ministries of Education, and Labour and Social Security have […]

Kuwaiti creditor seeks Abraaj liquidation in Cayman Islands court

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By Sarah Townsend From The National The move by Kuwait’s Public Institution for Social Security risks complicating ongoing restructuring negotiations One of the creditors of Abraaj Group, the buyout firm facing allegations of misusing investors’ funds, has filed a petition in a Cayman Islands court seeking liquidation of the company – a move that threatens […]

Abraaj lenders seek legal advice on options against Dubai firm – sources

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By Tom Arnold, Saeed Azhar, Davide Barbuscia From Reuters DUBAI, May 31 (Reuters) – Lenders to Dubai-based private equity firm Abraaj are seeking advice from law firm Clifford Chance on potential action they could take against the firm as concerns grow about its ability to repay its debt, two sources close to the matter said. […]

Automated clearing house is launched for Cayman Islands retail banks.

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The Cayman Islands Banker’s Association has announced an automated clearing house (ACH) has been launched for local retail banks. The Association also said the ACH is designed to clear and settle electronic transactions and domestic payments in both US and CI currencies. The ACH will be rolled out in phases, with the first being electronic […]

ILO Director-General Guy Ryder to attend child labour conference in Buenos Aires

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BUENOS AIRES (ILO News) – ILO Director-General Guy Ryder will attend the November 14-16 Fourth Global Conference on the Sustained Eradication of Child Labour  in Buenos Aires. Governments, employers and workers from 193 countries have been invited to the Conference, which is organized by Argentina’s Ministry of Labour, Employment and Social Security, with support from […]

Most of us are planning for retirement all wrong

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By Catherine Allen, Contributor From Business Insider Most financial advisers and articles on financial planning for retirement start with the topic of the right number for you to save for your next chapter in life. Often they cite having six to eight times your current salary, and they recommend you only take out 3-4% of current liquid […]

America is way behind the rest of the world in credit card security

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By Edgar Wilson, Digital Journal From Business Insider The United States continues to present the largest market of “soft targets” for identity thieves. As security upgrades continue to roll out among America’s millions credit cards, identity thieves are taking the path of least resistance to stay busy. That path leads straight to medical records. Despite […]