Archive for March 5th, 2009
Volunteers drum up cash for charity
(CNS): More than 15 volunteers from dms’ affiliate and subsidiary companies offered their support to Cayman HospiceCare’s 8thAnnual Flag Day recently. Stationing themselves at vantage points amidst the morning traffic to collect donations the between 6:30 to 9:00 am outside of the George Town Post Office the team collected over CI$1500.
Chloe from the dms station X107.1 was keeping her listeners updated along the way as she broadcast live back to the studio while she collected donations along with the rest of the volunteers. “It was great to be able to connect directly with the community for this cause,” she said. “Lending a hand to Cayman HospiceCare is always a rewarding experience, and the generosity of the Cayman Islands community was overwhelming.”
Phil Vinciullo, dms Broadcasting’s network promotions and marketing manager said it was the third year in a row that the firm has supported Cayman HospiceCare.
“It has been an honour to support such a noble organization, and our participation is a demonstration of our continued efforts to give back to the community. We would like to thank everyone for getting involved to make this event so memorable and impacting,” he said
Top Cuban officials resign
(Miami Herald): Two of Cuba’s most prominent officials have resigned from all Communist Party and government posts after they were removed from the Cabinet and criticized by Fidel Castro, according to letters published Thursday in the state press. The letters from Vice President Carlos Lage (left) and ousted Foreign Minister Felipe Perez Roque acknowledged they had committed errors – which were not specified – and promised to continue serving the country. The two were removed from the Cuba’s Cabinet, the Council of Ministers, as part of a broad shakeup on Monday.
US trip could be in vain
(CNS): As the Cayman Islands government delegation headed to the US capital yesterday, UK Prime Minister Gordon Brown was asking members of Congress, "How much safer would everybody’s savings be if the whole world finally came together to outlaw shadow banking systems and offshore tax havens?" Given the circumstances, efforts by the CI government may well be in vain, and one local politician believes it was too little too late.
Rolston Anglin, the UDP’s second elected member for West Bay said that he was unaware of what exactly the delegation was doing in Washington as the government had not been open about it, and he did not know how much their efforts would help. He said that the lack of transparency over the trip was a wasted opportunity as government could have reached out to see if there were others, professionals as well as politicians, that could have been able to assist on the mission.
Given the current economic climate, however, Anglin said the jurisdiction is certainly vulnerable to the behaviour of the major onshore nations, and as Cayman is not economically independent it is always at the mercy of the decisions made by larger nations. He noted, too, the irony that it was Cayman’s own head of state that was callingto close us down.
“What people have to understand is that Cayman is no more economically independent than any other nation in the global economy. While every country in the world seeks economic independence it is impossible to achieve. We are all interlinked and Cayman is particularly vulnerable to the world’s political and economic climate,” he said.
“Successful jurisdictions like Cayman are always open to attack and criticism as someone somewhere in the world is competing for the same business. We need a never-ending campaign that asserts the value that we add to the international financial system. We need to argue our relevance to the entire system,” he added, noting that the current global economic crisis had thrown up even more concerns for Cayman, and given the circumstances there was no single answer to the problem.
He said the increased role of UK and American governments in their domestic banks as a result of the bailouts could influence the behaviour of those institutions and prevent them from using offshore centres. Domestic legislation could be passed to make it increasingly difficult for people to use the jurisdiction, and ultimately governments are at liberty to make it illegal for their citizens to do business here.
He said it was impossible to know exactly what the onshore jurisdictions would do, and Cayman would have to react accordingly depending on what happens. He said this was the end result if you failed to engage the people that matter on an ongoing basis.
Former Chair of the Cayman Islands Monetary Authority Tim Ridley believes that while the onshore nations could certainly agree to pass domestic legislation that would effectively prevent or make very expensive movement of payments to and from offshore jurisdictions, he is not convinced they will. They are, however, likely to make life a lot more difficult for their taxpayers to use offshore centres. “Both the US and UK need foreign investment inwards from offshore centres and need to allow their multinationals and banks to use offshore if they are to be competitive. Sadly, the shouting classes are in the ascendancy right now,” he said.
While Brown’s speech has raised even more concern, the most pressing issue for Cayman is the upcoming G20 meeting next month in London, which Minister Alden McLaughlin said earlier this week could be a watershed for Cayman. The nations at the meeting will be pressing for a new blacklist of what was termed uncooperative havens at the G20 preparatory summit in Berlin recently.
As Cayman continues to be perceived as a tax haven, where British and US banks and corporations use subsidiaries to avoid tax, it is likely to be on the blacklist, despite any efforts to demonstrate that the jurisdiction is perfectly co-operative.
Previous lists that Cayman has found itself on generally “named and shamed”. However, this time the G20 nations propose a series of sanctions, include refusing to allow payments to a blacklisted haven to be deducted from taxable income. This would hit big corporations and banks who utilize offshore centres by paying royalties, management fees, dividends and insurance premiums to their own offshore subsidiaries.
The G20 will be considering the Tax Information Exchange Treaties with the jurisdictions in question, which will mean that Cayman’s recently passed legislation allowing it to sign such deals with countries as and when necessary could help to protect the islands.
However, the very fact that Cayman is home to subsidiaries of American and British banks and institutions may be enough to place Cayman on the blacklist. Lord Oakeshott, the UK Liberal-Democrat Treasury spokesman has called for UK government ministers to disclose exactly how much banks’ offshore activities were costing and the UK shadow chancellor George Osborne questioned Brown’s claims to deal with offshore centres while he increased the UK government’s stake in banks that, like RBS, have offshore subsidiaries. Criticisms over Lloyds Bank’s refusal to explain the purpose of other large loans, totalling £4bn, many routed through the Cayman Islands, will see the jurisdiction accused as much as the bankers.
In his speech to Congress yesterday, Brown said, "An economic hurricane has swept the world, creating a crisis of credit and of confidence" and the whole of the worldwide banking system needed to be changed to serve our prosperity rather than risk it. “Let us agree rules and standards for accountability, transparency, and reward that will mean an end to the excesses and will apply to every bank, everywhere, and all the time,” he said.
Cayman shines in ragatta
(CNS): Local teams finished in first and second place in the third KPMG J/22 International Regatta, held at the Cayman Islands Sailing Club (CISC) from 26 February to 2 March. Six teams from the Cayman Islands competed against six international teams from Nassau Yacht Club Bahamas, Manhattan Sailing Club USA, Royal Burnham Yacht Club UK, Montego Bay Yacht Club Jamaica and Royal Bermuda Yacht Club. Although a total of nine races were scheduled over the three race days, only six were held due to a strong cold front reaching the Cayman area on Monday, 2 March, and racing was abandoned for the final day.(Photos by Gary White of Infocus Photography)
The first day of racing, Saturday 28 February, featured exciting North Sound conditions with 15-18 knot breezes and large waves. The Cayman teams were strong in these conditions and Compass Marine (Mike Farrington, Matt Diaz & Nick Taylor) dominated the days racing with first and second place results. They were closely followed by the Cayman Radium team (Donald McLean, Alex Laing & David Carmichael).
Race conditions were dramatically different for the second day of racing, Sunday 1 March with light winds of 5-7 knots and flat water. This gave the opportunity for some of the visiting teams to show their skills, with both teams from Nassau Yacht Club (Jimmie Lowe and Craig Symonette) winning a race each and the Montego Bay Yacht Club crew (Peter Harper, Richard & Jacqui Hamilton & Juan Lago) winning Race 3. Cayman teams continued to do well, and at the end of day 2 Compass Marine was still leading the Regatta with Radium in second place and Jimmie Lowe’s Nassau team in third.
Race Officer, Peta Adams postponed the scheduled start for racing on Monday, 2 March, and eventually the decision was made to abandon racing for the day as conditions proved to be too challenging for racing and for the boats to safely leave and return to the CI Sailing Club dock.
Trophies, donated by Kirk Freeport, were awarded at the Prize Giving dinner held at CISC on Monday evening to the top place finishers. Race winners for each day were rewarded with Tortuga Rum products and KPMG shirts.
Final results after six races:
Rank Boat HelmName Club R1 R2 R3 R4 R5 R6 Total Nett
1st Compass Marine Mike Farrington CISC 2 1 1 4 -8 3 19 11
2nd Radium Donald McLean CISC 1 4 2 6 2 -10 25 15
3rd Flash Jimmie Lowe Nassau Yacht Club 5 -6 3 2 1 5 22 16
4th Argy Barj Peter Harper Montego Bay Yacht Club 6 3 4 -8 5 1 27 19
5th Yahoo Bruce Johnson CISC 3 2 7 3 -11 8 34 23
6th Regatta Sprite Marina Drive CISC 4 5 5 -9 4 6 33 24
7th Sunshine Craig Symonette Nassau Yacht Club 7 7 -8 1 7 4 34 26
8th Moonstruck Rick Thompson Royal Bermuda Yacht Club -11 11 10 7 3 2 44 33
9th Ciao! Jane Moon CISC 8 10 6 -11 6 7 48 37
10th Wreckless Andy Wise Royal Burnham Yacht Club 9 8 -11 5 10 11 54 43
11th Mayhem Jo Richards CISC 10 9 9 10 9 -12 5947
12th Plenty Trouble Danielle Gallo Manhattan Sailing Club -12 12 12 12 12 9 69 57
Title sponsor, KPMG had a big presence at the regatta supporting a Sailing Youth Day for North Side School children and providing volunteer KPMG staff who helped out with many of the evening events.
“We are delighted to support such a prestigious international sporting event for the third year. It is great to be a part of something that gives Cayman as well as the CISC some international exposure,” said Kris Beighton, Partner and Head of KPMG’s Corporate Social Responsibility Programme.
“We very much appreciate having KPMG on board again as our title sponsor for this event” commented CISC Commodore Andrew Moon. “The partnership between CISC and KPMG works well and we have once again been able to offer a high quality event with excellent sailing competition and social camaraderie enjoyed equally by competitors, officials, spectators and volunteers”.
Other sponsors and suppliers of goods and services to the regatta included Kirk Freeport, Harbour House Marina, Caribbean Marine Services, Tortuga Rums, Flowers Bottled Water, Champion House Catering, Mainstay Sailing, Subway West Shore & Industrial Park, English Bakery, Cost-U-Less, Infocus Photos Ltd, Cayman Islands Sailing Club and the local J/22 boat owners.
Regatta photos are posted at http://www.pbase.com/gwhite/3rd_kpmg_regatta
Athletes get ready for T&F this weekend
The Cayman Islands Athletic Association (CIAA) will be staging the 2009 renewal of the Truman Bodden Track Meet on Saturday, 7 March, at the Truman Bodden Sports Complex. With the Primary School football season now at an end and with the Inter-Primary Track & Field Championships now looming, the CIAA said it expects a good number of local athletes competing at this meet in preparation for these championships.
Athletes expected to participate at this meet include Carifta Games prospects, such as Chantelle Morrison, Ashleigh Nalty, Gizelle Wright, Melinda McLean, Kristen Dixon, Anissa Owen, Jahzenia Thomas, Avril Myers, Alexandra Terry, Travis Webb, Mauricio Terry and Joseph Suberan, as well as veterans from such past championships, such as Shane Evans, Robert Ibeh, Stephon Johnson and Rhymiech Adolphus. Much interest will also be focused on the younger rising athletes, such as Shenelle Stewart, Jada Wright, Pearl Morgan and Caribbean Under 150m silver medalist Mikayla McLaughlin and Under 11 Boys silver medalist Jouri Haylock.
The meet, which is sponsored by attorney-at-Law and former government minister Truman Bodden, has been staged for over 20 years and is the second major meet of the association’s calendar. Bodden has been an ardent supporter of track and field for more than two decades, and has assisted the association in obtaining corporate sponsorship from local business houses.
Registration is open to ages 6 and above and forms are available at the CIAA’s office at the Sports Complex or by contacting Coach Williams at 323-0163, Coach Yen at 925-6917 or Coach Wason at 916-6966. Registration closes at 6:00pm on Thursday 5 March 2009.
The CIAA invites the public to come out and show their support to the athletes, and says the meet promises to be exciting, as many of the athletes seek to improve their performances in the sprints, jumps, throws, hurdles and mid distance events.
The events on tap are listed below:
FIELD EVENTS AGE GROUPS
LONG JUMP M/F 8-9, 10-11, 12-13, 14 – 16, 17 -19, Open
HIGH JUMP M/F 10 -11, 12 -13, 14 -16, 17 – 19, Open
SHOT PUT M/F 12-13 14-16, 17-19, Open
DISCUS M/F 12 -13, 14 -16, 17 – 19, Open
JAVELIN M/F 12 -13, 14 – 16, 17 – 19, Open
BALL THROW M/F 6-7, 8-9, 10 – 11
RUNNING EVENTS AGE GROUP
60M Hurdles F 12 -13
80M Hurdles M 12 -13
400M Hurdles M/F 14 – 16, 17 – 19, Open
80M M/F 6 – 7, 8-9
100M M/F 10-11, 12-13, 14 – 16, 17 – 19, Open
800M M/F 10 -11, 12 – 13, 14-16, 17-19, Open
400M M/F 12-13, 14-16, 17-19, Open
150M M/F 8 – 9
200M M/F 10 -11, 12 – 13, 14-16, 17-19, Open
1500M M/F 14-16, 17-19, Open
Work starts in industrial area
(CNS): Between them the National Roads Authority (NRA) and the Water Authority-Cayman will be spending $850,000 to upgrade water pipes and roads over the next six weeks in George Town’s Industrial Park area. Population growth and increasing demand for water services combined with a need to upgrade the road surfaces have led the two authorities to team up to undertake the much needed upgrade project.
The infrastructural upgrades will include the replacing of a 12-inch water pipeline with a 16-inch one, which will run from the authority’s plant on Red Gate Road to Butterfield Roundabout. "All the work will be done at night and on Sundays, to minimise inconvenience to the travelling public," Water Authority Chief Operations Manager Robert Robler said estimating that it will take three of the six weeks to get to the North Sound Road and Dorcy Drive intersection, and another three to complete the run to Butterfield Roundabout.
The authority’s Customer Service Manager Joanna Welcome-Martinez said population growth as the driving force behind the upgrades. "The number of service contracts has increased exponentially," she said. "In the last 13 years, they have grown from about 5,000 to more than 14,000."
Once Water Authority crews are through, NRA staff will commence their portion of the work. This includes trench repair along Portland Road and the affected areas of Dorcy Drive, followed by the resurfacing of Butterfield Roundabout and North Sound Road, from the roundabout to Sparky Drive. "That section of North Sound Road has not been repaired for several years, and the surface is considerably worn,"NRA Managing Director Brian Tomlinson explained. "And since the Water Authority had to upgrade pipelines in that area, it made perfect sense to partner with them on the project."
Water Authority and NRA officials encourage residents using the affected sections of Industrial Park to take care when passing by work crews, and to use alternative routes when possible.
New GCSE exams ‘too easy’
(The Guardian): One of the UK’s leading private schools is to abandon GCSEs after claiming that reforms planned for this year will mean the courses are no longer challenging enough for its students. The overhaul is the biggest single change to the qualification since it was introduced in 1988, removing coursework and introducing a modular system, allowing pupils to retake chunks of the course. Manchester grammar school is to drop the government’s GCSEs in all subjects apart from art and replace them with the International GCSE (IGCSE), an alternative more similar to the traditional O-levels. The move raises fresh questions about the fragmentation of the national exams system.
A weekend of nature’s bounty
(CNS): Lovers of nature’s prettier things are in for a treat this weekend with the opportunity to get up close and personal with orchids and butterflies. The Cayman Islands Orchid Society will be holding its annual show at the Botanic Park and the National Trust will be hosting a butterfly walk in the grounds around the Mission House.
The annual orchid show and sale is always a great attraction when some of the islands expert growers offer the benefit of their extensive knowledge on growing these incredible flowers. The show will also feature blooming orchids, orchid culture demonstrations and plants, books and jewellery will be exhibited and sold. Local food will also be for sale.
The show runs all day Saturday and Sunday 7 and 8 March, at the Queen Elizabeth II Botanic Park, Frank Sound Road, North Side. Entrance is CI$8 for adults, and free for children younger than 12.
Meanwhile on Saturday between 10-11 am butterfly fans will have the opportunity to meet Dr Askew, a visiting scientist from UK and joint author of “Butterflies of the Cayman Islands” with Ann Stafford. The butterfly experts will be hosting a relaxing but informative walk and talk about butterflies in the grounds of the Historic Mission House in Bodden Town. The walk is free of charge and the National Trust said all are welcome.
For more details Call the NT 947 5805 or the Botanic Park on 947-9462