BUSINESS NEWS

NEW: Dart confirms purchase of Ritz-Carlton

Dart Real Estate has bought The Ritz-Carlton, Grand Cayman, adding the luxury resort to its growing portfolio of properties along the Seven Mile Beach corridor.

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  • Cayman vies to lead blockchain, digital ID innovation
    The implicit promise of quiet relaxation that comes with retirement has been far from the reality for former Equifax CEO .The fallen executive’s career came to an abrupt end in September following a security breach that implicated the personal data of more than 145 million Americans.
  • Lessons from Ivan: BVI financial sector faces long road to recovery
    After Hurricane Ivan ravaged the Cayman Islands on Sept. 11-12, questions persisted for days about whether the island’s financial services industry would also be devastated.
  • Cruise lines weathering the storm
    Hurricanes Irma and Maria disrupted many sectors of the economy but none more so than the cruise industry. The shares of major cruise line operators Carnival, Royal Caribbean and Norwegian Cruise Line faced significant headwinds in September.
  • A solution for de-risking?
    Government officials and industry professionals have long stressed the importance of regulatory compliance for their firms and for the wider financial services industry in the Cayman Islands.
  • Armour Expo: Weather and IT are inseparable for Caribbean businesses
    In the wake of a devastating hurricane season, much of the Caribbean has been forced to take on massive rebuilding efforts in coming months.
  • Living securely in a digital world
    Over the past several months the news has been full of reports about cyber criminals using malware to shut down devices or networks, steal data, or hold it for ransom. During the second quarter of 2017, more than 184 billion total exploits were documented. While most of these attacks targeted large, commercial networks, there has […]
  • ZEDRA is delivering on launch strategy, management says
    Almost 20 months after the buyout of Barclays’ trust and fiduciary business and the launch in seven jurisdictions, trust and corporate service provider ZEDRA finally held its official launch party in Cayman in October.
  • Health forum addresses processed foods, cancer, chronic diseases
    The prescription is fascinating, sensible and easy to remember – and it might save your life: Shop the perimeter.
  • Inflationary dynamics: Clear as mud
    Addressing the National Association for Business Economics (NABE), Federal Reserve Chairman Janet Yellen delivered a striking tone on the inflationary debate. Reiterating the “mystery” surrounding the recent low inflation readings, the chairman’s candid remarks did very little to stir markets.
  • Disruption: How stock portfolios can benefit from technological change
    Electric cars manufactured by Tesla are still a rarity on the roads in the Cayman Islands, but on the stock market, the U.S. carmaker already is firmly in the fast lane.

CAYMAN FINANCIAL REVIEW

Appreciating the remaining risks of bankruptcy strip-off of home mortgages

Investments in mortgage-backed debts carry reduced risk in light of the special protections afforded to collateralized claims. Second-lien investing, however, is subject to enhanced risk due to the greater likelihood of collateral value insufficiency.

Financial internships and the Foreign Corrupt Practices Act

American regulators have recently been scrutinizing financial institutions’ internship programs for potential violations of the Foreign Corrupt Practices Act.1 The United States Securities and Exchange Commission recently announced its first internship-related FCPA settlement with Bank of New York Mellon Corp.

Caribbean grapples with problem of bank de-risking

One potential mechanism to improve their AML systems is through the Inter-American Development Bank’s technical cooperation RG-T2224. It provides a grant to support member countries in their efforts to prevent money laundering and terrorist financing, in compliance with the new FATF standards.

Oil price instability and policy uncertainty in an OPEC world

The number of oil rigs in the United States quickly fell by more than 50 percent. The magnitude and speed of the collapse was rivaled only by the 1986 OPEC shock and the 2008 financial crisis.

Read more from the Cayman Financial Review

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