Category Archives: Cayman Islands

Tropical Storm Rafael gains intensity in Caribbean as it nears Cuba

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Storm expected to reach hurricane status but should weaken before it hits the US Gulf coast

Tropical Storm Rafael has grown more powerful in the Caribbean Sea and is poised to reach hurricane strength on Wednesday, carrying the risk of damaging wind and rainfall. But it should weaken as it approaches the US Gulf coast, where several states have not been hit by a hurricane in November, according to records maintained since the early months of the US civil war.

Portions of the Florida Keys could see tropical storm conditions starting on Wednesday night, according to the National Hurricane Center.

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Tropical Storm Rafael triggers hurricane warning for Cayman Islands

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Storm expected to bring heavy rain to US Gulf coast later this week

Forecasters posted a hurricane warning in the Caribbean on Monday afternoon after a late-season disturbance south of Cuba strengthened into Tropical Storm Rafael and set its sights on the US Gulf coast.

The 17th named storm of an overactive Atlantic hurricane season will bring heavy rain to Jamaica and the Cayman Islands before strengthening to a hurricane and probably hitting Cuba, the Miami-based National Hurricane Center (NHC) said.

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Biden declares emergency as Florida braces for Tropical Storm Helene

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Storm developing over Caribbean could become category 4 hurricane by Thursday as evacuations ordered in Florida

Joe Biden declared a state of emergency for Florida on Tuesday afternoon as the state braced for the prospect of Tropical Storm Helene swelling into a powerful hurricane heading for the state’s Gulf coast.

The US president ordered federal assistance to supplement state and local responses. The action authorizes the Department of Homeland Security and Federal Emergency Management Agency (Fema) to coordinate all disaster relief efforts to alleviate hardship and suffering, the White House said.

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Hurricane Beryl barrels through Cayman Islands after battering Jamaica

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Category 3 storm with wind speeds of up to 120mph continues to wreak ‘utter devastation’ in Caribbean

Hurricane Beryl is barrelling through the Cayman Islands after causing death and destruction in Jamaica.

The British overseas territory is bearing the brunt of the hurricane, which has been causing “utter devastation” in the Caribbean since Monday, when it almost destroyed parts of Grenada and St Vincent and the Grenadines.

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Tropical Storm Beryl predicted to turn into first hurricane of season

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Storm is forecast to glance off Barbados on Sunday before heading through Caribbean and toward the Yucatán

Tropical Storm Beryl is forecast to become the first hurricane of the season before skirting the southern tip of Barbados in the south-eastern Caribbean on Sunday.

Beryl currently holds maximum sustained winds of 60mph (95km/h) and is traveling west at 21mph (34km/h), according to the National Oceanic and Atmospheric Administration’s National Hurricane Center.

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Grand Cayman shooting leaves seven seriously injured at football match

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Cayman Islands police believe incident in British Caribbean territory was ‘targeted attack’ that could be gang-related

At least seven people have been seriously injured in a shooting at a crowded football match in the Cayman Islands.

The shooting, which police believe could be gang-related, occurred late on Sunday in West Bay, located in the north-west point of Grand Cayman island, authorities said.

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York and Shetland sites join UK bids for Unesco world heritage status

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The list of hopefuls also includes sites in Birkenhead, Northern Ireland and the Cayman Islands

The historic city centre of York and ancient settlements in the Shetlands are among seven sites backed by the UK government to win Unesco world heritage status, it has been announced.

York, which boasts the Minster and enjoys a rich history bequeathed by its Anglo-Saxon, Viking and Norman inhabitants, and three ancient settlements known as the “zenith of iron age Shetland” join five other sites announced on the “tentative list” to bid for the status.

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MEPs vote to add Channel and British Virgin Islands to tax haven blacklist

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UK overseas territories such as Cayman Islands also may lose protection once afforded by UK’s EU membership

The European parliament is pushing for UK overseas territories including the British Virgin Islands, Guernsey and Jersey to be added to an EU tax havens blacklist after the conclusion of the Brexit deal.

Sending a signal that tougher action on tax avoidance was required in response to the coronavirus pandemic, MEPs voted overwhelmingly in favour of adding more nations and territories to the list of non-cooperative jurisdictions.

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Children of former Azeri security chief acquired luxury UK properties

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Investigation into hacked bank files reveals £100m business empire owned by family of former Azerbaijan minister Eldar Mahmudov

 A string of luxury properties, including a £17m home near Harrods, were acquired by the children of Azerbaijan’s former security chief, an investigation has revealed.

Eldar Mahmudov was dismissed as national security minister by a presidential order in 2015. No official explanation was given for his removal.

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Strong earthquake shakes vast area from Mexico to Florida

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  • 7.7 magnitude quake struck in the sea south of Cuba
  • No immediate reports of damage or injuries

A powerful magnitude 7.7 earthquake has struck in the sea south of Cuba, shaking a vast area from Mexico to Florida and beyond, but there were no immediate reports of casualties or major damage.

Tsunami warnings for Cuba, Jamaica and the Cayman Islands were issued but lifted shortly afterward with no reports of major damage.

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Company part-owned by Jared Kushner got $90m from unknown offshore investors since 2017

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Overseas investment flowed to Cadre while Trump’s son-in-law works as US envoy, raising conflict of interest questions

A real estate company part-owned by Jared Kushner has received $90m in foreign funding from an opaque offshore vehicle since he entered the White House as a senior adviser to his father-in-law Donald Trump.

Investment has flowed from overseas to the company, Cadre, while Kushner works as an international envoy for the US, according to corporate filings and interviews. The money came through a vehicle run by Goldman Sachs in the Cayman Islands, a tax haven that guarantees corporate secrecy.

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Endowments boom as colleges bury earnings overseas

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In 2006, the endowments of Indiana University and Texas Christian University invested millions of dollars in a partnership, hoping to mint riches from oil, gas and coal. The partnership was formed by the Houston-based Quintana Capital Group, whose principals include Donald Evans, an influential Texan and longtime supporter of former President George W. Bush.

How a Tiny Gold Fund and TV Treasure Hunter Got Out-Sized Return

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A small Cayman Islands-based startup is using a former reality TV treasure hunter and a contrarian bet on gold to beat funds run by heavyweight firms such as Goldman Sachs and Pimco. Montreux Capital Management' s $30 million natural resources fund has returned 146 percent in the past year, beating 99 percent of peers, according to data compiled by Bloomberg. By comparison, the $1.8 billion Goldman Sachs Structured Investments fund is up 34 percent while a commodity Managing Partner Oliver Harris said Montreux is benefiting from a 2014 wager on gold after the metal's worst year in decades, and an alliance with Steven Newbery, an industry veteran and former star of the Lost Treasure Hunters show.

Family of Malaysia’s Jho Low moves to protect assets in 1MDB probe

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Relatives of Malaysian businessman Low Taek Jho are seeking fresh court action in a bid to prevent the U.S. government from seizing assets as part of an investigation into the scandal-tainted 1MDB fund, according to a U.S. court filing. Four relatives of Low Taek Jho are planning to file court actions in New Zealand and the Cayman Islands this week to have real estate and other assets transferred to a new trustee, according to a motion on Monday in federal court in Los Angeles.