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Cayman Islands News, Articles and InformationNo Pension ExceptionsOn his first visit to the Sister Islands, Pensions Superintendent Cyril Theriault of the National Pensions Office (NPO) said that future trips may take place every three months, based on demand.Mr Theriault, who spent several days on Cayman Brac with Pensions Inspector Pierre Lautischer last week, reported that there had been several complaints on the Island, but nothing out of the ordinary. The existence of the NPO is to benefit the employee. However, they are also there to answer all questions from the employers and not just to deal with complaints, he said. In one situation on the Brac (which they had encountered before), employers and employees on very low wages had come to an agreement that there would be no pension plan. However, Mr Theriault emphasized that this type of agreement is not legal, even if the Pensions Law is seen as negative by both sides. Ocean to Sound Relay Hits the MassapequasRunners from all over the New York Metropolitan area and beyond are cordially invited to put together teams to participate in the 21st annual Ocean to Sound Relay, on Sunday, Sept. 10.The Relay brings the entire Long Island region together in an annual September tradition, with 150 teams of eight runners each traversing a 50- mile course that starts at 8 a.m. at Jones Beach State Park, heads north and east through Wantagh, Seaford, Massapequa, Farmingdale and Old Bethpage before crossing into Huntington, hitting the Long Island Sound at Lloyd Harbor, returning to Nassau County via Cold Spring Harbor and Syosset, and then heading north again to a dramatic finish on the grounds of Theodore Roosevelt Memorial Park in Oyster Bay. Each runner on the team runs a leg of between five and seven miles.
Tracking the storms with DigicelFollowing the start of the 2006 Atlantic hurricane season on 1 June, Digicel said it is providing complimentary hurricane tracking maps at all its locations. The large scale tracking map also includes general hurricane information and tips on what to do before, during and after a hurricane.In order to track a hurricane on the map, customers should monitor local news for the latest weather advisories and look out for information on hurricane positions which are given by latitude and longitude. Customers should then record the storm centre position, date and time on the tracking map. As the storm proceeds the points should then be joined together to form the storm track. The firm said that to help its customers stay in touch during the hurricane season it is also offering a hurricane package throughout. Three new cruise ships sail to CaymanWITH the Grand Princess due return to the Cayman Islands this winter season comes news that three new cruise ships are heading for Grand Cayman, beginning May 2007.Marine and Cargo Manager at the Cayman Islands Port Authority Joseph Woods said the debut here on Monday of the Crown Princess signals an upswing in the number of cruise ship calls. The Crown Princess, owned by Princess Cruises, berthed at the George Town Harbour with 3,300 passengers and is expected to make regular visits to Grand Cayman. The ship made its inaugural voyage on 8 June in New York amid celebratory activities involving various stars. Sister ship, Grand Princess, which was a regular Wednesday fixture here, will resume its Cayman route on 3 October after being diverted by Princess Cruises to a port in Mexico. Rugby World Cup Qualifier in GuyanaThe current weather pattern is having a negative effect on the preparation of Guyana's Under19 rugby team, currently preparing for the North America West Indies Rugby Union's (NAWIRU) Internat-ional Rugby Board World Cup Qualifying tournament which Guyana will host from July 8 to 15.According to Guyana Ruby Football Union (GRFU) president Noel Adonis, the rainy season has left the National Park ground water logged and if it persists the NAWIRU tournament might have to be played at the Guyana Defence Force ground, Camp Ayanganna. This, he said, would mean that the GRFU would have to find additional funding to erect goal posts and scoreboard. Adonis who was at the time addressing members of the media at Olympic House said the union had budgeted $1.3M to host the championship and now with the preparation of the Camp Ayanganna ground, an additional $250,000 or more would be needed.
Travel Q/AQ. We are planning a trip to the Netherlands (Amsterdam and nearby towns) and Belgium (Brussels and Bruges). Should we buy rail passes and, if so, where? -- Linda Garb, San Rafael, Calif.A. Whether a pass is worthwhile depends on how many train rides you want to take. The distances you are traveling are fairly short compared with the distances you might be covering in, say, France or Germany. So a round-trip ticket between Brussels and Bruges can cost as little as $44 (second class) and $66 (first class); between Brussels and Antwerp, $30 (second class) and $54 (first class). But a pass is a good way to make sure you can get on any train and not worry about buying each ticket. Consider a Benelux Tourrail Pass for travel in the three Benelux countries -- Belgium, Luxembourg and the Netherlands -- sold by Rail Europe (www.raileurope.com) and available in both classes. CU dividend gets boostCivil servants who are members of Cayman Island Civil Service Association Cooperative Credit Union will be getting a six per cent dividend on their 2004 –2005 shares.The six per cent dividend was voted on by a majority of the credit union’s 9,000 members, despite the advice of the board to accept a more restrained 4.5 per cent payback. The difference will come from the credit union’s development fund, money originally allocated for property development. Treasurer Lem Hurlston, former Cayman Islands Financial Secretary, is a long–time member of the board. "We recommended a smaller percentage because earnings were down, but the six per cent decision was constitutionally proper," he said. The decision was made at the credit union’s 2004–2005 AGM held 5 June.
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.... .
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