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Cayman Islands News, Articles and InformationTelecommunications firm prepared and ready to helpCable & Wireless CEO Tim Adam spoke about his company's investment in the Cayman Islands' telecommunications infrastructure as the firm hosted the 'Business After Hours' event last week. He highlighted C&W's hurricane preparations and the support it can offer its clients during the season. Photo by Christopher TobuttNancy Kirkconnell-Ewing, President of Brac Informatics Centre, (BIC). Cable & Wireless was the host to the Chamber of Commerce's Business After Hours event on Thursday 22 June, just outside their building at One Technology Square, George Town. Cable & Wireless CEO Timothy Adam, used the opportunity to outline his company's achievements and said that the guests would be able to see firsthand the significant investment Cable & Wireless had made to telecommunications infrastructure in the Cayman Islands, during a guided tour of the Cable & Wireless building. Two Nabbed in Large-Scale Drug BustAuthorities charged 19 western New York residents, including two from Geneva, in connection with a large-scale cocaine trafficking and gang operation.Rebecca Spann, 30, and Kathryn Ortiz, 41, both of Geneva, are among those charged with conspiracy, criminal sale of a controlled substance, and other charges. Police say all 19 people possessed and sold cocaine in Niagara, Erie, and Ontario Counties from December of 2005 until March of this year. Police recovered more than 300 grams of cocaine with an estimated street value of $35,000.
Spann and Ortiz face up to nine years in prison if convicted.
Should you stash money overseas?Grand Cayman Island, a British protectorate and the Switzerland of the Caribbean, about 100 miles south of Cuba, seems to reek of money, with a population of only 30,000 permanent residents and what seems like a fleet of new Jaguars, Porsches and Ferraris roaring around the narrow streets. My wife and I find our way to this paradise to visit our son, who is in veterinary school there.On a trip last week, my curiosity overwhelmed me and I stopped in a building housing a Goldman Sachs and a Merrill Lynch office to inquire about the arcane financial tool known as the "offshore trust." Could any possible application make this a "loophole for the little guy?" Offshore trusts have the stigma of being a repository for ill-gotten gains or tax havens for people who have something to hide.
An exhibition of artwork at Heritage HouseArtwork produced by students at all schools on Cayman Brac was on display at the Heritage House for a special two week exhibit.The display included some of the Cayman Brac High School Year 11 work, taken from their final presentations for the external arts course this year, said Art Teacher Alison McLeod. "Each student must undertake three units in different areas of skill - such as drawing, printmaking, ceramics, textiles - and produce a presentation for each. The course culminates in an exam based on one of the areas they have studied," she explained. "The Year 7 work on display was based on a study of the artist Huntderwasser. The students study his style of work and are then asked to produce a piece, in this case they were using elements of the face, in that style," she said. Cayman Islands in the Foreign PressLONDON, England: The Financial Times, June 27, 2006 - The Dubai International Financial Centre has big ambitions, aiming to play host to 20 per cent of the world's investment funds.It has enacted the collective investment law to provide a legal framework, covering mutual funds, property funds, Islamic funds, hedge funds, and private equity funds. This put it on a par with other leading onshore fund centres, such as London, New York and Hong Kong, said Sandy Shipton, head of asset management at the DIFC. It was unique, he said, because it was designed to fit the fund industry from a wholesale perspective. Shipton has his sights set on the alternative fund industry as an obvious target for what the DIFC has to offer. The industry was fragmented, he said, typically domiciled in the Cayman Islands or a similar tax haven, administered in Dublin or the Channel Islands, with investment management in New York or London. Jamaica gives world's largest cruiser cultural helloMONTEGO BAY, St James - Jamaica yesterday welcomed the world's largest cruise ship and its 3,652 passengers with a show of the island's popular music culture at the Freeport in this tourist resort city. Jamaica's international dancehall music star Shaggy headlined the bill that included his sometimes stage partner Rayvon, as well as Bryan and Tony Gold who all gave the visitors an excellent sample of our music. .Demand for rock-throw footbridge to be shutRESIDENTS are calling for the closure of a footbridge used by youngsters who dropped rocks 30ft on to the city bypass.Two boys, aged eight and 13, were charged earlier this month after rocks were thrown 30ft from a railway line and footbridge at traffic on the A720 passing under the bridge near the Baberton Mains estate. .TI returning as part–hotelRenovations to Treasure Island Resort are well on the way to completion and by the end of this year about 50 of its current 290 finished rooms could be available as tourist hotel rooms.The well known Seven Mile Beach resort has been transformed into what will be a mix of apartments for lease, corporate extended stay room and family holiday resort rooms. All its current 290 rooms have at this stage been fully renovated. In fact, one retail space and only a few of TI’s rooms (all with ocean or pool views and access to the beach) are still available for rent. The renovation work, which is costing about $6.75 million, is being undertaken by Restoration Cayman, LLC, a partnership of long–time Cayman resident Harry Lalli and some of his family. Together they purchased the resort in June 2005.
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