Archive for July, 2009
Lesbian Jamaican drug dealer fights deportation
(Telegraph): A Jamaican drug dealer is appealing a deportation border on the basis that it infringes her human rights – because she is a lesbian. The woman, named only as ‘A’ for legal reasons, was convicted in 2005 of conspiracy to supply class A drugs and sent to prison, where she had a string of lesbian relationships with fellow inmates. But immigration officials say that despite the woman, from the Clapton area of east London, having previous homosexual affairs, her current claim that she is in love with another woman is no more than a ruse to remain in the UK.
50,000 criminals deported to Caribbean over 10 years
(CaribWorldNews.com): Over 50,000 convicted Caribbean-born criminals, who have called the U.S. home for many years, have been shipped back to the Caribbean in the past decade under tough U.S. immigration laws, a CaribWorldNews analysis of new Department of Homeland Security data reveals. The number of criminal deportees sent back to the Caribbean between the decade of 1999 and 2008 totaled 50,589, DHS statistics released this month and analyzed by CWNN reveal. Last year, the number was at 4,343, a slight increase from 2007, when the total was 4,315. However, it was an improvement from 2005, when the total rose to 5,149, the highest for the decade.
Cayman champs at Primary Island Games
(County Press): The second annual Primary School Island Games was not blessed with ideal weather but that did not stop more than 500 pupils from taking part in a wide range of sports and having plenty of fun. Last year’s winners, St Helena — comprising schools from the Ryde area — were this year pushed into second place by a cluster of Sandown schools representing the Cayman Islands. Other Islands taking part included Rhodes, Greenland, Menorca,Gibraltar and Bermuda. (Photo by Jennifer Burton)
Swimming pigs in Bahamas
(The Telegraph): Swimming pigs have been photographed taking a dip in the tropical waters of the Bahamas. The family of brown and pink boars and piglets live freely on the sandy white beaches and even swim in the surf on Big Major Spot Island. They are such a familiar sight at the spot that locals have named the area "Pig Beach." And they were snapped by underwater photographer Eric Cheng who stumbled across the unusual residents during a diving expedition. "We were in the southern Bahamas to photograph oceanic white-tip sharks," said the 33-year-old.
University makes plans for aviation speciality
(CNS): With the support of the local industry the University College of the Cayman Islands (UCCI) is exploring the possibility of creating a centre of excellence at the institution for learning in the area of Air Transport. Following several months of planning the college has invited key industry experts to a workshop next week to begin discussions on the newly developed programme in Air Transport Management and Planning.
“This workshop is a critical first step in developing capacity in the aviation industry within the Cayman Islands,” said UCCI Acting President Dr. Brian Chapell. “The support and participation of many key individuals and organizations will ensure that the workshop is successful and will set the stage for future capacity building in the industry.”
Earlier this year, UCCI said it had met with Cayman Islands aviation industry stakeholders to discuss the needs of the local industry and those discussions resulted in the acknowledgment of the need for air transport studies in the Cayman Islands and the support of the industry for UCCI to become a centre of excellence for such studies. The meetings also led to the signing of an informal MOU by UCCI and industry stakeholders to highlight the industry’s support of the initiative.
This month’s workshop will be attended by leading members of organisations in the aviation industry and the Cayman Islands government. Set to lead the workshop are UCCI Faculty, senior representatives from the Civil Aviation Authority of the Cayman Islands (CAACI), representatives from the International Air Transport Association (IATA) and senior representatives of the Airports Authority of Jamaica (AAJ).
In addition to distinguished experts from regional and international aviation organisations serving as instructors on the programme, UCCI has commenced discussions with both IATA and the Airports Council International (ACI) to explore the possibility of working closely with these organisations for further programme development. Feedback will be sought throughout the workshop to assist with the development of future programmes.
The workshop is scheduled for 21 & 22 July and will be held on the UCCI campus in the Executive Training Centre, which is located on the second floor of the campus library. Although will be geared toward those who currently work in the aviation industry, UCCIhas a limited number of spaces available for members of the public who may be interested in attending the workshop. To get more information on how to register, please call 623-0566 or e-mail stobutt@ucci.edu.ky
Cayman and Switzerland level on TIEAs
(CNS): Having agreed a new tax treaty on Wednesday with its European neighbour Austria, Switzerland now has the same number of Tax Information Exchange Agreements in place as the Cayman Islands which signed its 11th deal with the Netherlands in The Hague last week. Both Cayman and Switzerland are now one short of the twelve deals which the OECD had said would be the minimum requirement to remove jurisdictions from the ‘grey’ to the ‘white’ list of what are defined as cooperative countries.
The list was part of a naming and shaming of tax havens by the G20 nations in April of this year and has been at the centre of the international debate raging about the secrecy within the offshore sector since. Cayman went into the April G20 meeting with eight bi-lateral agreements in place but the previous administration had hoped the OECD would consider the 2008 legislation which had been passed to enable Cayman to sign unilateral agreements as and when required with other jurisdictions
Following the G20 meeting however, the OECD placed Cayman among other jurisdictions on the grey list and made a foot note that it would give the unilateral mechanism some consideration.
Since coming to office in May 2009 the new United Democratic Party Government has signed deals with Ireland, the UK and more recently Holland brining the total of deals to eleven. The first ever deal was signed in 2001 with the United States and another seven were signed in 2008 with Denmark, Faroe Islands, Finland, Greenland, Iceland, Ireland, Norway and Sweden.
Switzerland has so far initialled double-taxation treaties with Denmark, Luxembourg, Norway, France, Mexico, the United States, Japan, the Netherlands, Poland and Great Britain, according to a statement by the Swiss Finance Ministry. Luxembourg also stated that it had been removed from the grey list earlier this week it had been removed from the OECD list [IDn:nL8626056]. Belgium was also reportedly removed from the grey list this week after signing its twelfth agreement.
Students gain experience as summer interns
Over the course of his internship at OBS, Chevis has worked alongside key employees at OBS, learning about and assisting with several of the business’ primary functions including finance reconciliation, corporate management, database management and financial statement reviews.
“I have enjoyed my time at OBS,” commented Chevis in a dms release. “There was a lot to take in at first, but I have learned much about the offshore industry since the beginning of my internship. I plan to pursue a career in finance and I am looking forward to applying the knowledge that I have gained here to my studies.”
“OBS has enjoyed having Chevis on board this summer,” remarked OBS Client Accountant Angela Nightingale. “dms has always focused on supporting local education, and we have worked with many students at encouraging their future career aspirations. In addition to OBS, Chevis has had the opportunity to learn about other dms subsidiary and affiliate companies within dms House. He is flourishing during his time with us.”
College student Jonathon Ebanks is gaining work experience and earning some money this summer working as an intern with Saxon Administration Ltd. (Saxon), agents for Silver Thatch Pensions, where he will gain insight into the inner-workings of pension administration as well as the financial industry. Throughout this time he will continue to acquire new skills as he participates in the company’s team meetings as well as attending client meetings with the CEO of Saxon, Brian Williams, offering direct exposure to the importance of maintaining strong customer relationships. (Right: Jonathon Ebanks and Shaneil Vassell with Brian Williams)
In addition to Ebanks’ shadowing of key employees, some of his daily responsibilities and duties include data input, research queries, maintaining the filing system and basic customer service practices, a release states.Facilitating Ebanks’ quest for work experience, Saxon is also able to fulfill its mission to give back to the community in which they operate.
Commented Williams, “Investing in our community, particularly our youth, is of paramount importance to Saxon. We recognize it to be core to our social corporate responsibility to support young Caymanians by giving them work experience and training opportunities while they are still in school, so they are as prepared as they can be before embarking on working life.”
Having earned an Associate’s degree in 2008 from Jefferson College in Missouri, Ebanks is currently studying at Wingate University, North Carolina and is pursing a Bachelor’s degree in Sports Management. Returning home for the summer, Ebanks is also a member of the Cayman Islands National under 23 team.
Acknowledging his commitments in the community, Saxon has offered Ebanks a flexible work schedule during his internship to enable him to continue his football training sessions in the afternoons.
Williams added, “There is immense value in the youth gaininginsight into the diverse sectors within the financial services industry as it is one of the key drivers of the national economy.”
Over the years Saxon has also accommodated work experience opportunities from students of the Young Parents’ Programme and the Chamber of Commerce Mentoring Cayman programme. Shaneil Vassell of the Chamber of Commerce Mentoring programme and year 12 student of John Gray High School and a Pathfinders member; is currently working for Saxon on a two-week paid internship. Vassell is being cross trained in a variety of areas such as administrativework and reception which includes dealing with customer services issues, as well as participating in daily meetings exposing her to the ins and outs of pension administration.
Further demonstrations of Saxon’s commitment to Cayman’s youth include its active involvement in Junior Achievement serving as advisors. Saxon is also about to launch its high-school based investment club.
Asylum for battered women
(New York Times): The Obama administration has opened the way for foreign women who are victims of severe domestic beatings and sexual abuse to receive asylum in the United States. The action reverses a Bush administration stance in a protracted and passionate legal battle over the possibilities for battered women to become refugees. In addition to meeting other strict conditions for asylum, abused women will need to show that they are treated by their abuser as subordinates and little better than property, according to an immigration court filing by the administration, and that domestic abuse is widely tolerated in their country. They must show that they could not find protection from institutions at home or by moving to another place within their own country.
Local flu stats continue to climb as virus spreads
(CNS): Health authority officials say they are not surprised by the number of H1N1 cases in the Cayman Islands following confirmation of another five cases of the novel H1N1 virus (Swine flu). There have now been 43 cases, which experts say is in line with World Health Organization (WHO) and Centre for Disease Control (CDC) data that shows about 6% of populations are being affected by the virus in other parts of the world, and so far only one patient in Cayman has required hospital treatment.
“We expect to see many more cases over the next few months. We have recently met with our regional Pan American Health Organisation (PAHO) representative Dr Ernest Pate to ensure that the strategies in place fit the current status of the pandemic,” said Acting Medical Officer of Health Dr Anna Matthews. “We are constantly reviewing our response, and will continue to follow international guidelines.”
She noted that, in line with the WHO and PAHO guidelines, the Health Services Authority is still recommending that anyone with flu-like symptoms remain in home isolation and limit social contact to contain the virus as best as possible. Dr Matthews added that to date most H1N1 patients in Cayman have been experiencing a mild illness and recovered at home without antiviral medications, but she confirmed that one patient with an underlying medical condition had experienced severe symptoms and was hospitalized as a precaution. This patient has since recovered and is doing well at home.
“This reinforces that the current pandemic H1N1 flu virus is no more concerning than the other three influenza viruses that continue to circulate in the Cayman Islands. If you are in general good health you do not necessarily need the care of a physician and can treat your symptoms with over-the-counter medications. However, if you have severe symptoms, such as shortness of breath, chest pain or wheezing, you should seek medical attention,” Dr Matthews advised. “Also, those with chronic illnesses or other underlying medical conditions, the immuno-suppressed, persons over the age of 65, pregnant women and children under 5 years of age should consult a doctor.”
Officials also asked people to think twice before asking doctors to prescribe Tamiflu as it is the only family of drugs that is effective in treating the H1N1 flu virus. Using it inappropriately is irresponsible as it increases the chance of the H1N1 flu virus becoming resistant to the drug. It may also cause some serious side effects and should only be prescribed in severe cases and to persons who fall into the high risk categories. Health experts also warned that Tamiflu is not effective in treating the other seasonal flu viruses in circulation, and will therefore not help if you are ill with the seasonal flu.
For more information, please call the Public Health Department at 244-2621/ 2648/ 2632 or the Flu Hotline at 926-2812.
Lawyer sees new paradigm
(CNS): Local offshore legal expert and Ogier partner, James Bergstrom has said that in future only jurisdictions that meet certain regulatory and tax transparency requirements will be operating in the global financial system. "Transparency is the new paradigm," Bergstrom who is based in Cayman told members of the Hedge Funds sector at a global investment funds seminar recently.
According to Hedge Funds Review an industry website the seminar looked at the past, present and future of offshore investment funds, including proposed structuring and language clarification, the current litigious climate and the issues surrounding claims against funds and their service providers and the various international regulatory initiatives.
"In the near future only those offshore financial centres which meet the regulatory and tax transparency requirements of the new Financial Stability Board will be permitted to participate in the international financial system," Bergstrom added
His Cayman colleague at Ogier, partner Peter Cockhill also noted that Hedge fund managers naturally seek international as well as national investors. “To continue to do so in today’s evolving regulatory environment, managers are likely to need to establish operations in the EU for EU domiciled investors, in the US for US investors and offshore for international investors," he said.
The Ogier seminar which formed part of a series traced the origins of the current international initiatives back to 1996 when the OECD’s harmful tax practices project was launched. By analysing the development of the different initiatives since then, Ogier said it is possible to discern the key criteria that will need to be met by offshore financial centres (OFCs) and the offshore funds domiciled there.
"The number of OFCs in which they can be domiciled is likely to decrease," said British Virgin Island (BVI) partner Simon Schilder. "The changes in the regulatory landscape will mean that only those OFCs that adapt to meet the new internationally mandated criteria on regulation and tax transparency will survive as structuring and administration centres for offshore funds."
Schilder said the costs of regulator-to-regulator reporting and the ongoing scrutiny by international bodies is likely to be prohibitive for many OFCs. However," the status of the pre-eminent OFCs such as the Cayman Islands, BVI and the Channel Islands, should be enhanced by the coalescence of international standards," Schilder added.