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Cayman Islands News, Articles and InformationCogeneration a viable alternative to landfillSome time ago I wrote Cayman Net News about cogeneration facilities on the islands. After Ivan there was a very large amount of debris that had to be disposed of and put forth the idea of a cogeneration facility to do it. This trash has undoubtedly NOT left the island.Cogeneration is a very viable alternative to landfills and diesel generated electricity for your fine island. Depending on how much waste there is to burn, you could very easily set up a plant, the more waste to dispose of, the greater the electricity generation potential and thus the greater savings over diesel powered generation plants. While there is a considerable initial cost to build a cogeneration plant the obvious savings in valuable land on Grand Cayman makes a plant that much more viable. Asians dominate quality rankingsJ.D. Power and Associates took a new approach to its influential survey of initial vehicle quality this year -- looking not only for rattling dashboards and ill-fitting trim, but also for poorly-placed cruise controllers and hard-to-reach mirror controls.However, the results, released Wednesday, remained the same: While American car companies hit a few homeruns, the game still belongs to the Asian automakers. And Porsche. Toyota Motor Corp. once again dominated the field, winning 11 of the 19 segment awards, but its lead was challenged by Korean rival Hyundai Motor Co., which passed Toyota as the top non-luxury brand. Overall, top honors in this year's survey went to Germany's Porsche, which rocketed into first place after scoring fifth from the bottom last year.
Best Assigns VASCO Re Debt RatingA.M. Best Co. has assigned a debt rating of "bb" to the $50 million senior secured floating rate notes, due June 5, 2009, issued by VASCO Re 2006 Ltd. (the issuer), a newly created Cayman Islands exempted company licensed as a Class B insurer."The primary business purpose for the creation of the issuer is for the issuance of the notes and servicing and performance of the various agreements entered into, including the reinsurance agreement, bank deposit agreement and other related activities," Best explained. "Proceeds from the issuance of the notes will be deposited into a collateral trust account and will be available to pay any loss payments required to be made by the issuer under a multi-year reinsurance agreement entered between the issuer and Balboa Insurance Company and its affiliates (ceding insurer)," the bulletin continued.
Business continuity a priority for the Cayman Islands Monetary ...The installation of off-site data replication systems, work stations and telecommunication equipment, and arrangements for uninterrupted supply of currency are all part of actions the Cayman Islands Monetary Authority (CIMA) has taken to strengthen its preparedness, not only for the hurricane season but also for a range of events which could disrupt business. The Authority's current disaster recovery and business continuity plan was in development prior to Hurricane Ivan in 2004 and contributed to CIMA's ability to resume operations one week after that hurricane. The Authority has been enhancing the plan since that time. A major milestone was reached in May 2005 when the CIMA Board of Directors authorised the leasing of space and services at Deloitte's Disaster Recovery Centre at Citrus Grove, George Town.CORRECTED-Hedge funds eye physical oil but market toughIn June 23 story, company corrects the nature of MotherRock's approach to Taiwan in paragraph 10. Clarifies in paragraph 11 that the size of the hedge fund is attributed to sources and not to MotherRock. Company corrects paragraph 12 to add essential context, omitted in previous story, that MotherRock has approached as many as 50 potential trading partners.By Barani Krishnan and Edgar Ang NEW YORK, June 23 (Reuters) - Commodity hedge funds hoping to break into the physical oil business to offset losses in futures face unfriendly buyers and top banks that grab any market opening, analysts say. Two dismal months with no end in sight is forcing many in the hedge fund universe to think of any gambit to stay alive and show some -- if not outsized -- profit to investors. That includes buying and selling of oil by the barrels.
Bodden Town claims Under 14 FA CupThe powerhouse Bodden Town Under 14 team successfully defended their Under 14 FA Cup title on Sunday 21 May, continuing a run of dominant form that has seen the team lead the Queensgate Youth League all through the season as well.Bodden Town took on surprise FA Cup finalists Cayman Brac FC, who progressed to the final by defeating one of the title favourites, George Town SC, in a penalty shootout. Cayman Bracs appearance in the finals was certainly historic, and validated the faith that their coach Mitchum Sanford had placed in his team. It is also proof that Cayman Bracs participation in sporting leagues on Grand Cayman is both possible and desirable, as they are able to compete with, and defeat, the very best that Grand Cayman has to offer. The two teams certainly presented a spectacle out on the Annex pitch, which had been specially re-marked with additional yellow lines to more closely match the smaller pitches the Under 14 players are used to playing on. US newspaper story creating a Caribbean stormAN article in the Washington Post could become the first "storm" to hit the Cayman Islands and the rest of the Caribbean in the hurricane season, which officially began on 1 June.Appearing in the 4 June edition is a story headlined "Storm Warning: Choose Your Caribbean Island Wisely" which sought to weigh the advantages and disadvantages of holidaying in the region at this time. Written by staff writer Gary Lee, the article stated that the cheap low-season hotel discounts are very attractive but they came at a time when "treacherous" weather is predicted. "At least one study is predicting that the run of storms in 2006 will be as treacherous as last year's record season," he wrote. There has so far been no response from tourism organisations in the Caribbean on what could possibly be bad press for a region slowly recovering from the fallout from the September 11 terror attacks in the US in 2001, as well as the impact of Hurricane Ivan in September 2004. Grand Bahama Island in the Bahamas was listed as the one most likely to be hit by a storm, given that it has been struck by 40 hurricanes in the past 150 years for an average of one every four years. |
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