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News from the Cayman Islands for

The West Bay Police are continuing efforts to strengthen their bond with members of the community. Following a successful fundraising raffle, officers from that district recently presented sun blocking hats to students at John A. Cumber Primary to be worn during physical education classes. Members from the West Bay Police Station, the organisers of the event, were on hand along with sponsors and contributors... read more...

The Financial Crimes Unit gave Cayman law firms a clean bill of health following overseas press reports that hackers were targeting law firms with a sophisticated e-mail scheme that breaks into their computer networks to steal sensitive data, often linked to large corporate clients doing business overseas. Speaking to Cayman Net News Detective Sergeant Michael Montaque said that none of the law firms had reported... read more...

Senior members of the Cayman Islands Government, led by the Premier, the Honourable W. McKeeva Bush, met with several leaders in York’s financial services industry at a briefing held in New York on 16 November 2009. The event was a follow-up to a similar briefing held a week earlier in London and focused on encouraging more financial services firms in areas such as fund management and reinsurance... read more...

The CFA Society of the Cayman Islands held its annual Information Evening and Charter Awards Dinner on Thursday, November 12th at Deckers Restaurant and Bar. The Information Evening event attracted around 20 attendees who were keen to learn more about the Chartered Financial Analyst (CFA) designation. Mr Jeffrey T. Matthias, CFA, Director of Society Strategy and Design at CFA Institute, provided an overview of the CFA program... read more...

Premier Hon. McKeeva Bush said his government is proposing the reintroduction of a twenty-five year Direct Investment Certificate for private individuals seeking to invest in the local economy. Speaking in the Legislative Assembly on Wednesday, Mr Bush outlined this proposal as part of a list of initiatives the government has proposed to boost the financial services sector, by attracting high net worth individuals to... read more...

The RCIPS has seized approximately 50lbs of ganja which was found by a pedestrian in the Salt Creek area of West Bay. On Wednesday 4 November, police were alerted to the scene when a citizen reported that whilst walking his dog he noticed a suspicious package and reported it to the police. Officers attended the location and discovered the ganja, which carries a potential retail street value of about $225,000. read more...

One hundred workers employed by Androgroup, providing labour on the Clifton Hunter and John Gray High Schools project, now face being laid off following stoppage of construction on the school sites. Androgroup, through its associate company Caribbean Mechanical (High Schools 2008), was sub-contracted by main contractor Tom Jones International (TJI), which withdrew its services on Friday, 13 November, citing lack of... read more...

Former education minister Alden McLaughlin is urging his successor, Hon Rolston Anglin to accept the responsibility his job requires in delivering the schools that Cayman’s students will be expecting in the beginning of the next academic year. Mr McLaughlin, who served as Minister of Education in the People’s Progressive Party (PPM) Government from 2005 to 2009, was referring to the recent halt in the construction projects of the... read more...

Outgoing Governor His Excellency Stuart Jack was guest of honour at the National Museum last week where he carried out an offcial tour of the historic attraction. “I would encourage everybody to visit the museum. It’s packed with information about the Cayman Islands that is presented in a really exciting way,” Mr Jack said of his visit. Following the tour on Friday, 13 November, Mr Jack lauded the staff and board for “doing a wonderful job”... read more...

Officials in the Ministry of Education have announced a large-scale restructuring of government’s secondary education system to be implemented in September 2010. In the midst of brewing controversy surrounding the halting of the new schools projects, the Ministry of Education released a statement announcing major changes to be seen in secondary education for the upcoming academic year. read more...

A US$550 million hedge fund operated in the Cayman Islands, which went into liquidation earlier this year, is now at the centre of a criminal investigation launched by the United Kingdom’s Serious Fraud Office (SFO). The SFO said it started the probe into Dynamic Decisions Capital Management Ltd, in connection with the hedge fund known as Dynamic Decisions Growth Premium Master Fund Ltd, following a formal referral of... read more...

The Cayman Islands Monetary Authority, in conjunction with the British Royal Mint, has issued a limited mintage numismatic coin set to mark the commencement of the 2009 Cayman Islands Constitution. The commemorative coin issue, titled ‘50 Years of Constitutional Government’, comprises a gold proof ten-dollar and silver proof five-dollar coin. The reverse of each coin features the Cayman Islands coat of arms... read more...

The Royal Cayman Islands Police Service (RCIPS) is warning the local business community, as well as the public at large, to be vigilant when it comes to fraudsters in the runup to Christmas. Officers from the West Bay Police Station, along with representatives from the RCIPS Financial Crimes Unit (FCU), will be holding a Fraud Prevention presentation on Tuesday, 8 December to offer advice on how to beat the con men. read more...

Minister of Health Mark Scotland is urging residents of Cayman to engage in some form of physical activity in a bid to fight diabetes and other lifestyle disease. Mr Scotland was speaking at a multi-agency event at Camana Bay held to mark World Diabetes Day which was celebrated on 14 November. The Cayman Islands Diabetes Association (CIDA), the Diabetic Support Group (DSG), the Lions Club of Tropical Gardens and Lions Central... read more...

Following last week’s apparent decline in the government’s approval rating according to our readers, the latest Cayman Net News online poll asked: “Do you approve or disapprove of Premier McKeeva Bush’s performance after his first week in office?” A total of 214 readers responded using internet devices located in the Cayman Islands and, of these, 94 (43.9 percent) indicated their disapproval of the Premier’s performance to date. read more...

The community of South Sound has been the latest target for burglars, who many thought had taken a holiday, following an increased police presence in the George Town district. A burglary at Palm Springs, South Church Street, was reported to the 911 Emergency Communications Centre at approximately 1:45 am Friday morning. Police said two men approached a couple who were going into their residence. read more...

Permanent Secretary for the Ministry of District Administration, Planning, Agriculture and Housing, Kearney Gomez on Friday dispelled rumours that an Egyptian firm had put in bids for the privatization of the sewerage system. Speaking to Cayman Net News in an exclusive interview, Mr Gomez, said he was unaware of such a bid. “Maybe it has been brought to the attention of the politicians...” read more...

The youth arm of the Opposition People’s Progressive Party, the Young Progressives (YP) have expressed what they term, ‘serious concerns’ about the environmental impacts of the proposed berthing facility to be constructed at the George Town facility. In a letter-to the-editor sent to Cayman Net News by YP president Denise Miller, the Young Progressives expressed their shock at what they consider... read more...

Esso Gas station has signed on as a major supporter for the charitable Meals on Wheels programme. Meals On Wheels provides food, conversation and regular safety checks to hungry seniors and those with disabilities. Relying heavily on public donations, a team of dedicated volunteers prepare and delivers meals to almost 170 people, five days a week throughout Grand Cayman, ensuring the recipients receive at least one... read more...

Local real estate experts have confirmed that the global recession has not only affected the retail sector of that industry - rentals are suffering too. Signs for both commercial and residential rentals are popping up across the island in places never seen before. Kim Lund, owner of Remax Cayman Islands, says the demand for rental spaces is far lower than the supply, following a wave of newly-constructed developments. read more...

Chairman of the Immigration Review Team (IRT), Sherry Bodden-Cowan, has dismissed rumours currently being circulating around the Cayman Islands that 3,000 people will be granted Caymanian status by the Governor in Cabinet. “Regarding the rumour of status grants, I know of no recommendations being made by the IRT for the issue of status grants by the Governor in Cabinet,” she said. read more...

Grand Cayman’s only licensed electricity provider, Caribbean Utilities Company (CUC), last week had its rating lowered from ‘stable’ to ‘negative’ by Standard & Poor’s rating agency, which cited a weak Cayman economy. The report published on tradingmarkets.com said, “The economic recession has spilled over to the Cayman Islands, hitting hardest its financial and tourist sectors and prompting a government forecast for a 5.7% GDP... read more...

Tom Jones International last week halted construction at both the Clifton Hunter and John Gray High School construction sites, reportedly citing a lack of sufficient government funding. However, the Minister of Education, Hon. Rolston Anglin, has said he had already made contingency plans to ensure that education continued with or without the completion of the campuses. “When we got into government I assembled the technocrats to ensure that in... read more...

dms Management Ltd. (dms), the largest management firm in the Cayman Islands focused on serving the hedge fund industry, continues to expand its employee base to meet the increasing demand for its services. dms recently welcomed hedge fund pro Wade Kenny as manager. Earlier this year, dms also announced the appointment of Lori Webb-Griffith and Niaz Khan to its ever-growing managerial team. read more...