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Cayman Islands News, Articles and InformationNo licence in Brunei for BMB CapitalThe Ministry of Finance yesterday stated that it has not issued any licence in respect of a fund linked to BMB Capital or a bank by that name.It was widely reported in the news media in the Gulf that BMB Capital, whose parent company said to be based in Brunei, will be unveiling a US$5 billion fund that will be mainly invested in Syariah compliant assets. This $5 billion fund by BMB Capital is said to be the largest and most aggressive investment in Syariah compliant assets. The Borneo Bulletin stories were based on these reports. In a press statement to the Borneo Bulletin, the Ministry of Finance stated: "Referring to news article which have appeared in the Borneo Bulletin on Tuesday, 27th June 2006 and Wednesday, 28th June 2006, the Ministry of Finance wishes to state that the Ministry has not issued any licence in respect of a fund linked to BMB Capital, first reported in Tuesday's Borneo Bulletin.
Customs staff climb the promotion ladderEight promotions to senior positions have taken place at the Customs Department, which continues to distinguish itself according to Government Information Services (GIS).Trenda Anglin-Kelly, Avril Forbes-Martinez, Arthur Ebanks, Trevor Tummings Jr, William Watson, Philip West, Leonard Hydes and Kerrilyn Ebanks have moved up to the vanguard of leadership within the department and will now prepare incoming and junior staff to the ever-changing challenges the department faces. Collector of Customs Carlon Powery revealed how proud he is of his officers. "I am certainly pleased that we were able to promote these well-deserving officers, some of whom have been with the department in excess of 15 years," he aid. The officers share a wealth of experience gained over the years. Ogier Cayman Islands: Are Hedge Funds In Private Equity Concerning?Over the past five years, the hedge fund market has witnessed exponential growth, with over 8,000 funds now managing an estimated $1 trillion of assets globally. As a result, hedge funds are at a juncture where they find themselves looking for new opportunities for growth. In seeking these new opportunities hedge funds have begun to encroach on the hunting ground of private equity funds, by providing debt or equity financing for the acquisitions of unlisted companies, including taking large, sometimes controlling, equity positions and assuming more shareholder-activist stances. How does this affect hedge fund investors?Hedge funds and private equity defined Historically, hedge funds and private equity funds have been distinct investment categories for investors....
Malaysians Celebrate King's Birthday In New YorkNEW YORK, June 12 (Bernama) -- Malaysians and their local friends, accompanied by their spouses and children, thronged the banquet hall of the Malaysian Permanent Mission in New York on a warm and bright Saturday to celebrate the 63rd birthday of the Malaysian King, Yang di-Pertuan Agong Tuanku Syed Sirajuddin Syed Putra Jamalullail. While the men wore traditional Malaysian attire, the women were in colourful dresses to match the light-hearted and fun mood that prevailed at the event. As the afternoon progressed, the event assumed a fiesta-like atmosphere, with children having the time of their lives running around and engaging in fun and games, while their parents and the elders present were locked in conversation, touching on almost everything -- from politics, the pegging of the Ringgit to the dollar to the weather in the east coast.Canada: Looking For Offshore Investors? - Consider Listing Your Hedge Fund on The Irish Stock ExchangeThe Canadian hedge fund industry has grown dramatically over the past decade. Where previously there were only a few participants in the Canadian hedge fund space, today there are several highly skilled Canadian hedge fund managers - many of which are ready to export their expertise globally. To access foreign investment, a Canadian hedge fund manager will often establish an investment fund in an offshore jurisdiction, such as the Cayman Islands or British Virgin Islands.... .
Feeding effects studiedA Nova Southeastern University graduate student has just completed what is believed to be the first direct study of the effects of human feeding on marine wildlife.Mark Corcoran, 29, successfully defended his master's thesis last month in Dania Beach on the Cayman Islands' most popular tourist attraction, Stingray City and the Sandbar, where as many as 3,000 people per day interact with Southern stingrays. The two-year study, funded by the Guy Harvey Research Institute, found that supplemental feeding changes the activity patterns, feeding habits and even reproduction of stingrays. ''Now they are fed mostly frozen squid from California,'' Corcoran said. ``They wouldn't eat a squid in their natural environment -- mainly blue crabs and shrimp.'' Corcoran and colleagues tagged and tracked more than 150 stingrays, comparing those that frequented the knee-deep Sandbar and the 15-foot deep Stingray City dive site in North Sound with unfed wild rays from South Sound and other habitats.
Flood plans ready in JulyPossible solutions to deal with flooding problems in Savannah will be made public in July, consultant engineer Mr. Steve Bolt said Tuesday night.Mr. Bolt was answering questions after a public meeting at the Savannah Primary School on the subject of flood and storm surge mitigation. A similar session was planned for Wednesday night as well. A brochure about the event referred to it as a public visioning meeting. Residents who attended were asked to look at a large map of the area and identify where they live. Depending on their answer, they were then asked to go to tables with even larger maps to relate their flooding experiences. Details included their location, the flood events, height of flooding, duration and frequency. Residents were also requested to fill out a questionnaire that included space for their additional comments and concerns.
Swimmers give to Cayman Loves ChildrenThe Cayman swim community made a significant contribution to Cayman Loves Children (CLC) this month. Peter Mackay, president of the Cayman Islands Amateur Swimming Association (CIASA), presented CLC members with a check for $1,220. The money was a joint donation from CIASA and the organizers of last month’s Bank of Butterfield Sea Swim.Cayman Loves Children is a local group dedicated to raising awareness about the impact of severe poverty on children worldwide. All money raised by CLC is forwarded to UNICEF, said a spokesperson. CLC members Marzeta Bodden and Adishree Mani thanked CIASA and all the swimmers who gave. They also applauded the compassion of sea swim organizer Bill McFarland for dedicating the race to CLC. Log on to www.caymanloveschildren.org to learn about the 10 million children who die each year because they are poor.
Versatile Stewart dominatesDAYTONA BEACH -- The Crown Royal International Race of Champions thought it would throw in an old twist.The twist was bringing road-course racing back to the series for the first time in almost 15 years. Multifaceted multi-series champion Tony Stewart was just fine with that, as the defending Nextel Cup champion came from the back row to run away with the IROC race Thursday night at Daytona International Speedway. "It's awesome. It was just an awesome day. I got five laps of practice and that's enough I guess," Stewart said. "To me it's a huge honor to win a race like this with Max Papis and Max Angelelli, against guys who are really good at road courses. To do that today, that was pretty special." The Rushville, Ind., native, who has won championships in IndyCar and in three USAC divisions, proved that the series, entry or time of race need not matter.
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