Calling a racing driver “driven” may appear to be a bad play on words, but the only other accurate description of Danica Patrick, at least as far as one could tell from her interview at the Cayman Alternative Investment Forum last week, would be the title of her latest book, a 90-day workout and nutrition plan: “Pretty Intense."
An interview session with Hollywood star Will Smith at the Cayman Alternative Investment Summit took an unexpected turn Friday when the actor, accompanied by UCCI’s steel pan band Pandemix, rapped the theme song from his 1980’s TV hit show “The Fresh Prince of Bel Air.”
We should not expect artificial intelligence to take the form of human-like robots conceived by Hollywood movies like “Ex Machina,” “I, Robot” or “Star Trek,” but instead think of it as one of the many ways human thought and creativity are going to be enhanced, delegates at the Cayman Alternative Investment Summit heard.
The large majority of hedge funds and private equity firms are not reacting quickly enough to digital technologies that are radically reshaping the alternative investment industry, according to a research report by KPMG International and CREATE-Research.
In 1960, the Cayman Islands could not have been further removed from its status today as a small but prominent global financial center. At the time, the Cayman economy still largely relied on seamen’s remittances, fishing, agriculture, shipbuilding and hand crafts. Airline services were limited and the tourism sector in its infancy.
An attempt to push British overseas territories to create publicly accessible beneficial ownership registries for companies, if necessary through an order in council, has been rejected by the U.K. House of Lords.
U.K. newspaper The Independent has linked the annual review of the EU tax blacklist, and the potential inclusion of Cayman and other offshore territories that were until now left off the list, to the outcome of Brexit negotiations between the European block and the U.K.
The Cayman Islands was not included on a list of 17 countries that the European Union deemed uncooperative in tax matters. However, when the list was released on Dec. 5, Cayman found itself on a so-called graylist of 47 countries and jurisdictions that have made written commitments to meet the EU criteria applied to the process of singling out countries for their lack of tax transparency and “tax fairness.”
Appleby is taking legal action against two U.K.-based media organizations, the BBC and The Guardian, over their reporting of offshore transactions by the law firm’s clients based on what Appleby calls confidential information taken in a “criminal act.”
The Economic Commission for Latin America and the Caribbean (ECLAC) predicts a moderate recovery for the region with an expected economic growth rate of 2.2 percent next year, following 1.3 percent growth in 2017.
Dart NeuroScience, a developer of memory-improving drugs, is closing its operations in San Diego, laying off about 265 employees. Dart informed staff on Dec. 7 that owner Ken Dart had decided to stop funding the company.
Cayman’s inclusion on a graylist of countries that have promised to address certain deficiencies by the end of 2018 leaves the Cayman government in the difficult position of not knowing what exactly it has committed to.
After weeks of media fanfare, coinciding with the release of the Paradise Papers, and political horse trading behind the scenes, the EU has released a list of 17 countries it considers uncooperative in tax matters.
The recent trend of banks canceling their correspondent banking arrangements with other banks for fear of taking on too much money laundering risk, amid ever increasing compliance costs, has hit the Caribbean and especially money service providers hardest.
Cayman will inevitably see an effect from the Paradise Papers media reports based on data from offshore law firm Appleby, but for panelists at the Campbells Fund Focus conference, the greater consequences will be in terms of data security rather than any reputational damage.