Archive for November, 2010
Government plans stimulus
(CNS): More than250 suggestions and initiatives have been submitted to the government’s Stimulus Implementation Group by numerous committees and associations with a view to boosting the local economy. The group, which was recently created to examine the most effective way government can help stimulate the economy, is now in the process of prioritising a list of measures for implementation in the remainder of this fiscal year, the premier has revealed. With an eye on the promised 90-day target, McKeeva Bush told the Legislative Assembly last week that he will be unveiling a stimulus programme next month to chart the way through the recession.
“It is important to demonstrate to our private sector partners, both local and international, that we are prepared to identify problems, prescribe solutions and oversee their implementation,” Bush told his legislative colleagues as he delivered government’s strategic policy statement. “We will provide the leadership that sets this country on the right path, and given the evidence the country has seen to date, we are heading in the right direction.”
Bush promised in a television address delivered in September that the economy would be back on track within 90 days and has said he will be unveiling the stimulus plan to meet that target. In that presentation he vowed that Cayman would be back on the path to success by 16 December and he would deliver another public speech revealing which proposals government intended to implement.
Although the premier has not given away specific details of the planned economic boost, he has previously hinted at a reduction in duty for the construction industry, the contraction of the rollover period and a reduction of fees for small businesses. While he noted that it was “imperative to recognize” that an important component of the cost of living is the cost of doing business, Bush also spoke of looking at ways to reduce those costs via improving efficiency in the bureaucracy that businesses are faced with.
“It is … my government’s intention to conduct a complete review of fees applicable to small businesses with a view to making reductions where appropriate. This will include, for example, work permit fees and trade and business licenses. This review will not focus exclusively on reducing fees, but look at overall efficiencies that can be gained from integrating various systems within government to make it easier for businesses to obtain necessary permissions to conduct legitimate activity,” he added.
The premier indicated that it was the micro-businesses that were of particular concern — those that have five or fewer employees – and he wanted to ensure they were not disadvantaged when trying to compete with larger businesses.
“We know for a fact that micro-businesses play a significant role in providing opportunities for individuals in lower income brackets, but are the types of businesses most vulnerable to failure,” Bush said.
With an eye also on new development and the significant jobs created by construction, he said he was continuing to explore the possibility of temporarily reducing the duties on construction materials as well as a reduction in stamp duty over the next 6 to 12 month period.
“This will provide an extra incentive to get new inward investment projects off the ground and in turn create new opportunities for local businesses. This is a forward-looking strategy that will have implications for this fiscal year and certainly the ones to come,” Bush claimed.
Related article: Mac vows 3 months to success
New visitor guide for Cayman
(CNS): Explore a new free visitor guide for Cayman from Acorn was launched on Wednesday 24 November. The new guide will target stay-over visitors and, Acorn says, will be the most widely distributed guide on Grand Cayman with a print run of 80,000 copies per edition. As well as providing some history about the Cayman Islands, Explore makes recommendations about what to do, the best tours, cultural activities, sightseeing, shopping, spas, restaurants and some of the more unique accommodation in Cayman. In addition it details how to get about, and provides useful contact numbers and detailed maps. Governor Duncan Taylor received the first copy and said, “This is the most comprehensive and up to date visitor guide that I have seen in Cayman”.
He continued, “I really believe it will do a fabulous job in both promoting the wide range of activities available when tourists arrive in Cayman as well as encouraging them to come here in the first place.”
Charles Grover the Publishing Director at Acorn Publishing said, “Explore is designed to be a really useful travel guide that contains all the information a visitor needs to get the most out of Cayman. Similar to a travel guide that you would buy in a book shop it highlights the different areas that Cayman visitors can explore, including a detailed section on the Sister Islands.”
Grover continued, “It has been an interesting time launching a new guide in a recession, when everyone has been closely watching their marketing budgets, but the response we have had has been overwhelmingly positive. We initially thought the guide would be about 60 to 80 pages long, but due to greater than expected commitment from advertisers it has ended up being 120 pages long. As with our two other publications, New Resident and Good Taste we offer very cost effective advertising rates that has ensured the continued success of those publications, and the indications are that Explore will be just as successful.”
Joanna Boxall, the owner of Acorn Publishing, said, “We spent 18 months planning this new guide to ensure that it will be the most useful visitor guide in Cayman. We listened to numerous tourism professionals in Cayman and incorporated many of their ideas. For example the concierges at the Ritz-Carlton said it would be great to have a downtown map of George Town, so we designed a detailed 3D downtown map and added walking tours.”
Allice Fallon, a well known concierge at The Ritz-Carlton, Grand Cayman said, “There is huge demand among our guests for a guide that is easy to read and is a single go-to source for island attractions. We will definitely include Explore among the resources we make available to our guests.”
On island, the free guide will be available in dedicated racks and can be picked up at the airport, car rental agencies, shopping plazas, hotel concierges, supermarkets and over 350 other distribution points. Off island the guide will be distributed to Cayman’s overseas offices and the Cayman Islands Department of Tourism will be including it as part of their sales training programmes for sales representatives.
For more information please contact Acorn Publishing on (345) 946 3200 or email info@acorn.ky
MRCU dropping mozzie pellets on the Sister Islands
(CNS): People on Cayman Brac and Little Cayman can expect the Mosquito Research and Control Unit spray plane to drop larvicide pellets over some areas of the two islands starting today, weather permitting. While the mosquito population on the Sister Islands is usually controlled from the ground using spray trucks, MRCU Director Dr Bill Petrie said that staff members expect to treat some 400 acres of prime mosquito breeding areas within the proximity of residences and resorts and hotels in Little Cayman and on the south coast of Cayman Brac.“Depending upon the weather, the operation will commence on Tuesday, 30 November with two or three flights from Grand Cayman in the MRCU spray plane," Dr Petrie said.
‘Natular’ pellets dropped from the aircraft will release a mosquito-specific larvicide to kill emerging insects before they can become a biting nuisance,” he added.
Noting that the effects of the treatment will be residual for six weeks or more, he explained that results will be monitored with light traps that capture flying adult mosquitoes inside the treated areas. “We hope that the larvicide pellets will significantly reduce nuisance biting on both islands,” the MRCU Director concluded.
Pellets to control the mosquitoes were also dropped on the Sister Islands following Hurricane Paloma.
Mac goes back on road
(CNS): The country’s premier has headed overseas again to promote the Cayman Islands, according to officials. The premier departed for the United States this weekend to attend the Financial Times (FT) Global Finance Forum in New York. Before the conference opens on Thursday McKeeva Bush will be delivering an address at the ‘Cayman Islands International Financial Centre Update Dinner’ tomorrow evening. A release from the premier’s office said he will be delivering an important message to various stakeholders in the financial sector about Cayman as a jurisdiction of choice. Bush is expected to speak to an audience of chief financial officers, chief operating officers, partners and general councils of major firms such as Goldman Sachs and JP Morgan.
The speech themed “Ensuring the Cayman Islands Remains the Jurisdiction of Choice” will focus on the maintenance of the Cayman Islands tax neutral status and its commitment to meet the standards of international tax transparency.
“The premier will also give an update of developments in the Cayman Islands and government initiatives to enhance the Cayman business environment,” the press office stated.
The forum, which opens 2 December, is titled “Reforming the Global Financial System” and is sponsored by the Cayman Islands Monetary Authority. Forum attendees will discuss ways to strengthen the global financial industry. The premier will deliver the opening remarks at the FT forum, which will be attended by senior executives in the financial services industry, senior government officials, financial services lawyers and accountants, regulatory bodies and academic experts in international finance, regulation and economics.
During last week’s presentation in the Legislative Assembly of the government’s Strategic Policy Statement the premier spoke of the importance of travelling to promote Cayman’s position and that his efforts were beginning to bear fruit.
Bush said he intended to build up the reputation of the jurisdiction and was planning a comprehensive international marketing road show in conjunction with the private sector partners. He said that Cayman had to be at the table at important events and to actively pursue appropriate business and investors.
“We cannot just be the regulator; we have to be partners with the financial services industry and we need to be at the table wherever that is,” Bush said.
Accompanying the premier is his senior political assistant, Richard Parchment, and Financial Services Chief Officer Dr Dax Basdeo is also attending the FT forum.
The premier returns home on 4 December and during his absence Julianna O’Connor-Connolly will be acting as premier.
Police make last push for public survey
(CNS): The RCIPS is making a last minute push to encourage everyone to take part in the police public opinion survey. The survey, which the service says is the most comprehensive ever undertaken by the RCIPS, began on Friday, 12 November and will finish this coming Friday, 3 December. The survey asks the public what they think of the service they receive from all of the key policing areas of criminal investigation, uniform operations and specialist support such as the marine and drugs units. The survey aims to identify public perceptions in the areas of crime investigation and policing and aid in developing potential public priorities for the RCIPS.
Anthony Ennis the Deputy Commissioner encouraged everyone who has an interest in keeping the community safe to take part and help shape the future of policing in the Islands. ” You will have an important say in changing the way RCIPS conducts the business of policing,” Ennis added.
He explained that the survey will be directly linked to the RCIPS vision detailed in its Corporate Plan of reducing crime and disorder, strengthening the trust and confidence of the community and working with the community and partners to build a stronger Cayman Islands.
Those who still wish to take part in the survey can either participate on-line by visiting the RCIPS website and click the link on the front page: www.rcips.ky or complete a paper survey form held at every local police station reception.
The results of the survey, which is being managed on a ‘no cost’ basis by Deloitte, will be published at a future date.
UK chancellor to review tax on multinationals
(FT.Com): George Osborne as expected to set out his stall on Monday for restoring Britain’s tax competitiveness with a consultation on a far-reaching overhaul of rules blamed for the departure of several multinationals in recent years. The Treasury will propose making the tax system more “territorial” by restricting its right to impose tax on profits earned in low tax jurisdictions, as part of a drive to make the UK “the most competitive corporate tax system in the G20”. The reforms to the “controlled foreign companies” rules, the anti-avoidance regime affecting foreign profits, are designed to stop companies moving their tax base out of Britain to countries with no CFC rules, such as Ireland.
The Treasury is under pressure to make the reform of the rules radical enough to satisfy footloose companies while reassuring businesses that fear their taxes may rise to pay for the CFC changes.
Grouper ban still in place at spawning sites
(CNS): The Cayman Islands Marine Conservation Board has issued a reminder that the ban on taking Nassau grouper from a designated spawning area during the months November through March is still in effect. It is also illegal for grouper to taken with a spear gun in Cayman waters at anytime. Members of the board said that the public can report violations of the Marine Conservation Law confidentially to the DOE at 949-8469, Marine Enforcement Supervisor Mark Orr at 916-4271, or Emergency 911. Anyone who takes, receives or has in his possession any Nassau grouper from these areas if convicted, is liable to a penalty of CI$500,000.00 and one year in jail.
The grouper spawning areas are in Grand Cayman – East End ‘Coxswain Bank’; South West Point ‘Sand Cay’, Cayman Brac – East End and West End, Little Cayman –East End and West End, 12 Mile Bank-Northeast and Southwest ends. More information on the locations is available at the Department of Environment Offices on North Sound Rd. George Town.
A ban on fishing in grouper areas was introduced in the Cayman Islands in 2001 to try and preserve the fish which is now listed as endangered. Despite the fact that the Department of the Environment works closely with the RCIPS Marine Unit to enforce the ban there are still a number of people illegally catching the endangered fish in local waters with spear guns and taking from spawning areas.
DoE Director Gina Ebanks-Petrie warned earlier this year that the more illegal fishing that takes place, the greater the impact on the aggregation. Ebanks-Petrie said that, at the moment, the ban on fishing grouper in designated spawning areas remains in place until 1 January 2012.
Murder convictions safe
(CNS): The Court of Appeal has rejected the appeals of Larry Ricketts and Kirkland Henry on their conviction for the murder of Estella Scott-Roberts. On behalf of the three appeal court judges, the president, Sir John Chadwick, briefly revealed the decision this morning but said a written ruling would be handed down later. "By any standards this was an horrendous crime," the president told the court. He said that the appellants’ lead counsel had advanced every point that could properly have been done on their clients behalf. However, the president told the court, "We are satsified there are no grounds for allowing these appeals. Accordingly they are both dismissed." (Photo courtesy Cayman27)
Ricketts and Henry were both sentenced to life in prison by the chief justice in February this year for the October 2008 murder. (Photo courtesy Cayman27)
Henry has already pleaded guilty to rape, abduction and robbery and was given 20 years for those crimes in the wake of the murder trial. Ricketts who has pleaded not guilty to robbery, rape and abduction is listed to face another trial for those offences. However, the crown may decide that with a safe murder conviction it is not in the public interest to continue with a second trial relating to the offence.
There has been no indication so far from either of the attorneys representing Ricketts or Henry if they intend to take the appeals to the UK’s Privy Council.
Full story on CNS later today.
Temperatures could rise 4 degrees by 2060
(Daily Telegraph): As the latest round of UN climate talks gets under way, scientists said that even with strong political will, the chances of changing energy systems fast enough to limit global warming to less than 2C is "slim" and eventual temperature rises of 3C or 4C are much more likely. A recent study by the UN Environment Programme showed the voluntary pledges by countries to curb emissions under the Copenhagen Accord, drawn up at the climate talks last year, will not be sufficient to keep global temperatures from rising by more than 2C – widely recognised as a "guard rail" below which dangerous climate change could mostly be avoided.
Conference to cover common Caribbean concerns
(CNS): The Northern Caribbean Conference (NCC) on Economic Development and Co-operation will offer the opportunity for countries in the region to tackle their common issues, organisers stated last week. Immigration, trade, education and security will be key focus areas at the December Conference, to be held at the Ritz-Carlton in Grand Cayman. A diverse range of subjects will be on the table from cattle smuggling between Jamaica and Cayman to a rational way of getting foodstuff into Haiti and organisers have said they hoped new possibilities will emerge between the regions countries.
Participation isexpected from the Bahamas, Cuba, the Cayman Islands, the Dominican Republic, Haiti, Jamaica, and the Commonwealth of Puerto Rico, with the aim of encouraging closer regional collaboration and augmenting economic development.
“There are specific things we can deal with right now, such as in the movement of people between our countries,” Earl Jarrett, General Manager of Jamaica National Building Society (JNBS) said. He pointed out that there was a significant population of Jamaicans in the Cayman Islands, while there were Haitians in the Bahamas and Jamaica.
“We have people moving around despite the structures put up by government,” Jarrett said at a press briefing held in Kingston and Grand Cayman concurrently, last week. The NCC will be hosted by the National Building Society of Cayman (NBSC) and JNBS.
The conference will include presentations from the Cayman Islands premier the Jamaican prime minister of Jamaica and CARICOM representative for Haiti P.J. Patterson. It will also be addressed by representatives from American, Canadian and British development agencies; as well as entrepreneurs and members of academia.