Archive for August 18th, 2010

Work permit moratorium for builders in Bermuda

Work permit moratorium for builders in Bermuda

| 18/08/2010 | 84 Comments

(The Royal Gazette): Nine construction companies have been "red-carded" by the Department of Immigration for failing to hire Bermudians. And a "moratorium" was put on all applications for masons, carpenters, landscape gardeners and cleaners. Labour and Immigration Minister David Burch said his department had received a considerable number of complaints, particularly because of construction companies’ "reluctance to hire Bermudians". "As one example, we have received information on a master mason who had applied to ten different construction companies and only one called him back. Happily, the firm who did, hired him and are quite happy with his craftsmanship."

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Dead state employees in Jamaica still on payroll

Dead state employees in Jamaica still on payroll

| 18/08/2010 | 0 Comments

(Jamaica Gleaner): The Public Sector Transformation Unit (PSTU) says it has uncovered several discrepancies in the public sector, including salary payments to dead workers on the Government’s payroll. PSTU Chairman Peter Moses (left) made the revelation while speaking at yesterday’s sitting of Parliament’s Public Administration and Appropriations Committee, which is reviewing the PSTU’s recommendations for modernising the public sector. "There are too many people employed, too many people being paid, people who are being paid who are not alive anymore – we have unearthed a lot," Moses told the committee. (Photo by Philip Hamilton, Gleaner Writer)

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CITA backs Shetty hospital

CITA backs Shetty hospital

| 18/08/2010 | 41 Comments

(CNS): Given the dire circumstances facing the local tourism sector, the president of the Cayman Islands Tourism Association says the body is throwing its support behind the plan by Dr Devi Shetty to build a medical facility here. Narayana Cayman University Medical Centre is being heralded as the dawn of medical tourism on the islandand CITA’s Harri Lalli said the project could inject millions of dollars back into the Cayman economy and would give the industry a chance of real recovery. He said he hoped the project would get started very soon. An MOU was signed in April between Shetty and the Cayman government, paving the way for a major medical facility.

Gene Thompson, one of the local partners involved with the medical centre, told CITA members that of the forecasted US$2 billion in capital expenditure in the project, US$200 million would be spent in the first two years. He revealed that investments in the hospital and accommodation would total US$200 million in the first phase, and an additional 10,000 rooms would be needed on island by 2024, which would generate US$1.2 billion in construction spending. He also noted that that room tax would generate US$ 4.4 million in 2013, growing to US$56 million by 2024. Music to the CITA members’ ears was the expectation that tourist arrivals would be 87,600 for 2013 and continue up to a 1 million increase by 2025.
 
"The magnitude, complexity, investment and international recognition of this project is overwhelming and every aspect of it has a substantial positive impact on the Cayman Islands, including tourism, which desperately needs all the help it can get today,” said Lalli. "Right now, the tourism industry in Cayman is suffocating from a perfect storm of increased fees, decreased services, decreased visitors and a declining population, and a project like this has the ability to put 100’s of millions of dollars into government immediately and billions over the life of the project. That can give tourism and all businesses here the breathing room to get back to profitability and more so, to begin to grow again."
 
He added that medical tourism was now a growing industry in the region and has already shown huge success in Costa Rica and Cuba in the Caribbean. "For years, many people have been travelling to India from the United States and this offers them a far closer destination. We all know that somebody coming for treatment is accompanied by other family members who will need accommodation, food etc. and that is the major aspect of this project for tourism businesses here,” Lalli noted.
 
The president said there would be numerous benefits for many local business associated with the hospital and especially tourism, as well as the benefits to government and the impressive medical services. “I think I speak on behalf of our members in saying that we wish this project the best and look forward to it getting started as soon as possible,” Lalli stated.
 
CITA Director Hugh Treadwell agreed that the impact of the project would be of substantial benefit to the finances of the country and to all local businesses.  “The tourism aspects of the project are widespread and diverse and will really provide a lot of opportunity for everyone working in all tourism related businesses," said Treadwell.
 
Since government signed the MOU there have been no further official announcements regarding developments with the project. The main unanswered question is still exactly where Shetty’s health city will be constructed.

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Helicopter spots missing crew & fishing boat

Helicopter spots missing crew & fishing boat

| 18/08/2010 | 27 Comments

(CNS): Update — Following reports yesterday that a search operation was underway for a fishing boat that had not been seen for a week, the boat was located by the police helicopter. The Renegade was found in the Pickle Bank area when crew members, Jorge Diaz and Westley Dixon, spotted the RCIPS Air Support Unit and let off a distress flair. The Joint Marine Unit vessel Guardian headed to the location to assist the crew. The boat was safely towed to Cayman Brac by the law enforcement vessel which had officers from the RCIP, Customs, Immigration and medics from the Health Services.

The two men on board the Renegade were in good health spent the night in Cayman Brac.   

The search operation began after the boat and crew had not been spotted for a week after ehading to Pickle Banks around 50 miles north of Little Cayman where the men wer found.

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District Admin minister to hold public meetings

District Admin minister to hold public meetings

| 18/08/2010 | 66 Comments

(CNS): Deputy Premier and District Administration Minister, Juliana O’Connor-Connolly, is holding public meetings on the Sister Islands next week but is asking the public on both Cayman Brac and Little Cayman to come during working hours. A release from the ministry says that on the agenda is its annual budget, which in this financial year included $900,000 towards a new $9 million hurricane shelter on the Bluff, which has caused some controversy. According to the plans for the building, the emergency shelter, which will be located east and adjacent to the playing field on the Bluff, will consist of a main hall and 80 private rooms with semi-private bathrooms.

O’Connor Connolly told CNS previously that it will be completed over a three-year period.

The Brac meeting will be held at the Aston Rutty Centre on Thursday, 26 August, at 9am. The meeting on Little Cayman will be at the PWD Workers Accommodations Building on Friday, 27 August, at 10am. Chief Officer Kearney Gomez and Acting District Commissioner Mark Tibbetts will also attend.
 

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Pageant contestants make official debut this weekend

Pageant contestants make official debut this weekend

| 18/08/2010 | 0 Comments

(CNS): The six young women competing for the Miss Cayman Islands crown will be officially be introduced on Saturday when their sponsors and charities will be announced at the Platform Launch at the Westin. The contestants will also be on Cardinal Avenue on Friday lunchtime for a sidewalk ticket sale and photo opportunity. With money tight for this year’s competition organizers are hoping the community will come out and support the event by buying tickets and joining in the silent auction. Part of the proceeds will be donated to the charities chosen by the pageant entrants.

 
Cristin Alexander, Mysti Bush, Trudy Ann Duncan, Venessa Ebanks, Janine Martins and Shari Walton (pictured below) will be talking about the charities they will be supporting this year as well as introducing the local business that will be sponsoring their efforts to attain the coveted crown.
 
The Miss Cayman Islands Pageant is scheduled for Saturday, 25 September at the Lions Centre. Leading up to the main event, the contestants have an intense two months of preparation including a vigorous training and fitness programme with Ford Fitness, several photo sessions, the Sister Islands trip and the Island Tour.
 
Tickets for the Platform Launch cost $25.00 and are available from Le Classique, Miss Cayman Committee – Lovenia Ebanks 916-0264
 
 
 
 
 

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Local rum cake king receives Jamaican honour

Local rum cake king receives Jamaican honour

| 18/08/2010 | 1 Comment

(CNS): Captain Robert Hamaty, founder and managing director of the Tortuga Rum Company, has been named a recipient of Jamaica’s 2010 National Honour of the Order of Distinction in the Rank of Officer (OD). The recognition announced on Jamaica Independence Day, was conferred by the Governor-General, Sir Patrick Allen, for Captain Hamaty’s service in to tourism & hospitality and manufacturing. “This is a great honor and I am deeply touched by this recognition,” Hamaty who lives in the Cayman Islands said.

 
The Ceremony of Investiture will be held at King’s House on Jamaica’s National Heroes Day, Monday 18 October.
 
Born in Jamaica, Hamaty began his career in aviation becoming the youngest airline captain, flying for Air Jamaica at age 24. Captain Hamaty joined Cayman Airways in 1978. While working there, he and his wife Carlene started the Tortuga Rum Company in 1984 to introduce the first Cayman Islands rums to appeal to the growing tourist and cruise passenger business. A few years later they opened the first Tortuga duty free liquor store and Carlene (nee Jackson, from the district of Savanna) began making Tortuga Rum Cakes from her generations old family recipe and aged Tortuga Gold Rum.
 
Today, the company has become the largest duty free and retail liquor business in Grand Cayman, with franchise bakeries in Jamaica, Barbados and the Bahamas. Tortuga Rum Cakes are the #1 export of the Cayman Island, shipped to 70 countries worldwide, and a major gift and souvenir throughout the Caribbean.
 
Among his many honors, Hamaty was named 2001 Caribbean Entrepreneur of the Year in Trinidad and was recognized in the field of tourism, hospitality and manufacturing for his “innovative business strategy” in creating a unique success story. He served as the Jamaican Honorary Consul for the Cayman Islands for 16 years. He and his wife Carlene were recognized in 2008 with the “Lifetime Achievement Award for Culinary Excellence” at the Jamaica Observer Food Awards in Kingston Jamaica.
 Hamaty has served as chairman of the Cayman Islands’ Port Improvement and Beautification Committee from 2001 to 2004 and is a founding member of the Association for the Advancement of Cruise Tourism (ACT). He also is a founding member of both the Jamaican and Cayman Airline Pilots Association. He currently serves on the Cayman Islands Tourism Advisory Board (TAC).
He was educated at Jamaica College (1958-1964) and the Embry Riddle Aeronautical Institute, Daytona Beach, Florida (1965-1966). He has two grown children, son Basil, a first officer for Cayman Airways and his daughter, Monique Simmonds. She and and her husband Marcus run the Tortuga Rum Cake Company, handling worldwide distribution, mail order, food service and online sales from Miami, Florida.    
 

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Google chief: My fears for Generation Facebook

Google chief: My fears for Generation Facebook

| 18/08/2010 | 0 Comments

(The Independent): Eric Schmidt, the chief executive of Google, has issued a stark warning over the amount of personal data people leave on the internet and suggested that many of them will be forced one day to change their names in order to escape their cyber past. In a startling admission from a man whose company has made billions by perfecting the art of hoarding, storing and retrieving information on us, Mr Schmidt suggested that the enormous quantity of detail we leave online may not be such a good thing after all. He said that young people will need to go as far as changing their identities if they are to truly erase what they have left online.

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CIMA makes deal with US banking regulators

CIMA makes deal with US banking regulators

| 18/08/2010 | 0 Comments

(CNS): The Cayman Islands Monetary Authority (CIMA) and the four main federal banking regulators in the United States have formalised procedures for exchanging supervisory information on US and Cayman Islands banks and banking institutions that have operations in each others’ jurisdictions. The agreement came into effect on Friday, 6 August, after several months of negotiations. According to CIMA the agreement will make it easier for both the Cayman and US regulators to access pertinent information andsupervisory assistance from each other. This in turn will facilitate more effect supervision of the entities for which they have overall responsibility, when they have operations in the other jurisdiction.

 
Cayman Islands Premier and Minister of Finance McKeeva Bush said the memorandum of understanding as important both from a regulatory and from a business perspective.
 
“This agreement will certainly enhance CIMA’s effectiveness and that of the other regulators in executing their supervisory responsibilities with regard to cross-border banking entities,” Bush stated. “For international banks and banking institutions with entities in Cayman, as well as their Cayman service providers, this is a reputational boost that should enable them to attract more business. It provides further evidence of the Cayman Islands’ commitment to sound regulation and international cooperation and shows our increasing stature as an international financial centre.”
 
The US agencies that are parties to the Statement of Cooperation are: the Board of Governors of the Federal Reserve System (the Board), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the Office of Thrift Supervision (OTS).
 
The accord covers is the sharing of information when a Cayman Islands or US regulated bank or banking institution is seeking approval in the other jurisdiction to set up a branch, subsidiary or affiliate in that jurisdiction.
 
CIMA said that this means the home regulator will be aware when its entities are seeking to set up establishments in the other jurisdiction and the host regulator will know if the institution is in good regulatory standing at home, when it is considering an application for authorization
 
Additionally, the agreement establishes protocols for information exchange and general cooperation to facilitate ongoing consolidated supervision of these cross-border institutions as permitted by the laws of both jurisdictions.
 
It also sets the framework for handling confidential information on both sides.
 
Since CIMA’s inception it has put in place some 17 other cooperation and information exchange agreements with foreignregulators to facilitate the exercise of one of its statutory functions – that of providing assistance to overseas regulatory authorities.
 
CIMA Managing Director, Cindy Scotland, explained that entering into this agreement with the US banking regulators is also consistent with one of the recommendations of the IMF in its 2009 report on the Assessment of the Financial Sector Supervision and Regulation in the Cayman Islands.
 
“The report recommended that CIMA enter into agreements with home supervisors of international financial institutions it regulates in order to manage the risks involved in the cross border operations of such institutions,” she said. “This is something that we accepted and moved speedily to implement.”
 
The Statement of Cooperation with US Banking Regulators can be downloaded from theinternational agreements page of CIMA’s website at www.cimoney.com.ky.
 
CIMA’s other overseas information exchange and cooperation accords include agreements with authorities in the UK, Canada, Malta, Jersey, Isle of Man, Brazil, Argentina, Jamaica, Panama and member jurisdictions of the International Organisation of Securities Commissions (IOSCO). Other US regulators with which agreements exist are the Securities and Exchange Commission (SEC), State of Florida Office of Insurance Regulation, and the Office of Insurance Commissioner of the State of Washington.

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Government to ban rogue wheel clampers in UK

Government to ban rogue wheel clampers in UK

| 18/08/2010 | 9 Comments

(Sky-news): Wheel clampers will be banned from operating on private land following concerns about the bullying tactics of rogue operators. The UK government has announced plans for a new law which would instead allow landowners to fine people if they breach clearly advertised restrictions. Home Office minister Lynne Featherstone told Sky News: "The coalition government has an agreement and a commitment to tackle rogue wheel clampers on private land and that’s what we’re doing. The decision is to ban them." Claiming that clamping is a big issue due to the amount of complaints MPs receive over rogue activity, she said government had been thinking about starting an appeal court for motorists, but at a cost of £2m, it was decided an outright ban was best. (Photo Dennie Warren Jr)

 

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