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Cayman Islands News, Articles and InformationRugby U18s brave harsh conditions in GuyanaAfter two days of travel and an overnight stay in Barbados, the HSBC National Under 18 rugby team arrived in George Town, Guyana. The young team, comprising two eighteen, five seventeen, fifteen sixteen and two fifteen-year olds, made the trip to compete against the USA and other Caribbean countries in the NAWIRA qualification tournamentOn Friday afternoon the team assembled at the designated training ground. The seasonal heavy rains had continued turning the training pitch into a mass of standing water, sand and mud. Saturday saw the first match, with the Cayman team playing Jamaica. Cayman dominated the play but the fast Jamaican players were able to push through to a winning 17 - 5. Next day the team re-grouped at training ready to face the USA on Monday. An answer for Tania JohnsonIf you had known anything about me Capt. Evans, you would know that I was one of the first person to start releasing Blue Marlins in the Cayman Islands.Also was one of the founding members to start the angling club and was the second person to be elected as president. Also the first captain in the world to catch a Blue Marlin on 8 pound test line, so you see I did not just wash up on Cayman shores yesterday or I am not Johnny come yesterday for your information - the Blue Marlin came up dead. It was hook in the eye, I thought it would be better to bring it ashore than to let it drift away on the surface dead. Maybe if you spend your time doing something constructive or know what you are writing about it would help. Capt.
(AFX UK Focus) 2006-07-10 12:32 GMT: 'NatWest 3' to be extradited to US on ThursdayLONDON (AFX) - Three British bankers are to be extradited to the US on Thursday on Enron-related fraud charges, their lawyer said, despite pressure on Prime Minister Tony Blair to intervene.David Bermingham, Gary Mulgrew and Giles Darby will board a plane to the US at Gatwick airport at 9.30am to face trial over the alleged fraud, the lawyer said. The so-called "NatWest 3" are accused of taking part in a 19 mln usd fraud over the alleged sale of a Cayman Islands company for less than it was worth. They deny any criminal conduct. They have challenged the legality of their extradition to the US, which makes use of a fast-track treaty that was originally intended for terrorism suspects. The treaty, ratified by London but not Washington, means US authorities do not have to prove there is a case to answer for extradition to be granted, even though prima facie evidence is still required to send US citizens to Britain.
Study: sea turtle assessments are wrongLA JOLLA, Calif., Aug. 1 (UPI) -- Conservationists in La Jolla, Calif., say assessments of endangered Caribbean sea turtles are too optimistic.Loren McClenachan, Jeremy Jackson and Marah Newman of the Scripps Institution of Oceanography agree conservation efforts have helped increase green and hawksbill turtle populations that nest on protected beaches. However, the scientists argue dwindling turtle populations on many historically important nesting beaches are overlooked by conservation assessments that instead focus on the few large nesting sites that remain. The researchers estimate today's population of 300,000 turtles once was as large as 6.5 million adult turtles in the Cayman Islands during the 17th Century, with close to 91 million green turtles living acros the Caribbean during this same time period.
GPS leader navigates through tight marketAfter starting out by helping pilots get around, navigational device maker Garmin Ltd. is now more likely to aid a motorist in finding the quickest interstate or the nearest pizza parlor. But as drivers have snapped up millions of the satellite-reading devices for their cars, the surge in interest has attracted new and bigger players into what had been a rather isolated market. Now Garmin could need one of its GPS units just to keep from getting lost. .Don't Get LostSTAYING FOUND: The Global Positioning System relies upon 24 orbiting satellites.10:00 PM PDT on Monday, July 31, 2006 By DAVID TWIDDY The Associated Press
OLATHE, KAN. - After starting out by helping pilots get around, navigational device maker Garmin Ltd. is now more likely to aid a motorist in finding the quickest interstate or the nearest pizza parlor. .(AFX UK Focus) 2006-08-01 16:45 GMT: IRS chief says offshore abuses a problemWASHINGTON (AFX) - IRS Commissioner Mark Everson told senators Tuesday that a trend toward a world economy helps wealthy taxpayers hide money in complicated transactions offshore, virtually invisible to tax agents."We have real difficulties finding out what's going on," he said. "Our challenges are acute and ever-growing. Offshore abuses are a real problem." Everson testified to the investigative subcommittee of the Senate Homeland Security and Governmental Affairs Committee, which concluded a yearlong study of offshore tax shelters. They determined that offshore tax havens offer the wealthy a "black box" for stashing trillions of dollars, mostly impervious to tax, regulatory and law enforcement authorities. The panel said the havens allow Americans to avoid paying $40 billion to $70 billion in taxes each year, with the help of "an armada" of professional advisers.
UK politicians offered warm Cayman welcomeThe Speaker, Hon. Edna Moyle, and the executive committee of the Cayman Islands Branch of the Commonwealth Parliamentary Association, welcomed a five-member delegation of UK Members of Parliament with a special reception last week at the Marriott.The group was led by Lord Garfield Davies, and included Labour MPs Brian Donohoe and Eric Martlew, and Conservative MPs Eleanor Laing and Andrew Rosindell. The local CPA Executive Committee members MLAs Alfonso Wright and Lucille Seymour shared duties with the Hon Speaker and the Leader of Government Business the Hon Kurt Tibbetts in welcoming the delegation Reception guests included the Acting Governor H.E. George McCarthy; Acting Chief Justice Mr Justice Alexander Henderson; Minister of Communications, Works and Infrastructure, the Hon.
Senate subcommittee submits report on offshore tax havensWASHINGTON - Offshore trusts directed in secret by billionaires Charles and Sam Wyly were at the center of a family effort to evade U.S. taxes and quietly funnel money back into expensive jewelry, art and investments, an investigation by a Senate subcommittee found.A report on offshore tax havens by wealthy individuals squarely targeted the Dallas businessmen as prime examples of abuse. The two individuals also may have misled investors by circumventing federal financial disclosure requirements and misrepresenting their role in overseas trusts, the panel's investigation said. The report, written by Senate staff for a Tuesday hearing of the Senate's Permanent Subcommittee on Investigations, said the Wylys used a network of 58 offshore trusts and shell corporations in the Cayman Islands and the Isle of Man in the Irish Sea to skirt tens of millions of dollars in taxes and funnel hundreds of millions of dollars back into business investments.
Panel: Offshore Tax Havens Cost BillionsOffshore tax havens offer the wealthy a "black box" for stashing trillions of dollars, mostly impervious to tax, regulatory and law enforcement authorities, a Senate panel concluded after a yearlong investigation.The investigative subcommittee of the Senate Homeland Security and Governmental Affairs Committee said the havens allow Americans to avoid paying $40 billion to $70 billion in taxes each year, with the help of "an armada" of professional advisers.One such adviser, profiled in a report the panel prepared for a Tuesday hearing, wrote a virtual how-to manual for avoiding taxes by moving money offshore.Lawrence Turpen retired from his career in dentistry and wrote a book about protecting assets by putting them in offshore corporations that appear unconnected to clients whose money they held.He instructed his clients be careful about privacy and avoid a paper trail connecting them to their offshore arrangements, but Turpen's own computer held documents about many clients that fell into IRS hands under a search warrant.One of his clients told subcommittee investigators he could only respond, "You idiot! That is exactly what you told me never to do."Both Turpen and the client pleaded guilty to tax-related crimes, and their case illustrates the common features of offshore schemes that the subcommittee explored.The offshore industry uses countries considered tax havens because they promise secrecy and anonymity to people doing business there. |
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