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Economy Of The Cayman Islands
The economy of the Cayman Islands, a British overseas territory located in the western Caribbean Sea, is mainly fueled by the tourism sector and by the financial services sector, together representing 50–60 percent of the country's gross domestic product (GDP). The Cayman Islands Investment Bureau, a government agency, has been established with the mandate of promoting investment and economic development in the territory. Because of the territory’s economic success and it being a popular banking destination for wealthy individuals and businesses, it is often dubbed the ‘financial capital’ of the Caribbean. The emergence of what are now considered the Cayman Islands' "twin pillars of economic development" (tourism and international finance) started in the 1950s with the introduction of modern transportation and telecommunications. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands Dollar
The Cayman Islands Dollar (currency code ''KYD'') is the currency of the Cayman Islands. It is abbreviated with the dollar sign ''$'', or alternatively ''CI$'' to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. History The Cayman Islands dollar was introduced in 1972 (10 years after separation from the Colony of Jamaica), replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands dollars both remained legal tender until 1 August 1972, when Jamaican currency ceased to be legal tender. The Cayman Islands dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974, when the Currency Law of 1974 was enacted. In 1983, the 1974 law was repealed and replaced by the Currency Law Revised, which itself was replaced in 1997 by section 22 of the Monetary Authority Law. Under section 22 of the 2013 revision of the Monetary Authority Law, the value of the Cayman dollar in United S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fishing
Fishing is the activity of trying to catch fish. Fish are often caught as wildlife from the natural environment, but may also be caught from stocked bodies of water such as ponds, canals, park wetlands and reservoirs. Fishing techniques include hand-gathering, spearing, netting, angling, shooting and trapping, as well as more destructive and often illegal techniques such as electrocution, blasting and poisoning. The term fishing broadly includes catching aquatic animals other than fish, such as crustaceans ( shrimp/ lobsters/crabs), shellfish, cephalopods (octopus/squid) and echinoderms ( starfish/ sea urchins). The term is not normally applied to harvesting fish raised in controlled cultivations ( fish farming). Nor is it normally applied to hunting aquatic mammals, where terms like whaling and sealing are used instead. Fishing has been an important part of human culture since hunter-gatherer times, and is one of the few food production activities that have persisted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands Stock Exchange
The Cayman Islands Stock Exchange (CSX) is a stock exchange based in Grand Cayman, Cayman Islands. It started operations in July 1997 and is fully owned by the Cayman Islands government. The CSX was recognised by the London Stock Exchange as an approved organisation in July 1999. Over 1,000 stocks, , warrants and global depositary receipts are listed on the CSX. The Chairman ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Semiconductor Manufacturing International Corporation
Semiconductor Manufacturing International Corporation (SMIC) is a partially state-owned publicly-listed Chinese pure-play semiconductor foundry company. (published 05-09-2019) (published 05-24-2019) It is the largest contract chip maker in mainland China. SMIC is headquartered in Shanghai and incorporated in the Cayman Islands. It has wafer fabrication sites throughout mainland China, offices in the United States, Italy, Japan, and Taiwan, and a representative office in Hong Kong. It provides integrated circuit (IC) manufacturing services from 350 nm to 7 nm process technologies. State-owned civilian and military telecommunications equipment provider Datang Telecom Group as well as the China National Integrated Circuit Industry Investment Fund are major shareholders of SMIC. Notable customers include Qualcomm, (published 05-25-2019) Broadcom, and Texas Instruments. History SMIC was founded on April 3, 2000, and is headquartered in Shanghai. It was incorporated in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Company
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts. The "trust" name refers to the ability to act as a trustee – someone who administers financial assets on behalf of another. The assets are typically held in the form of a trust, a legal instrument that spells out who the beneficiaries are and what the money can be spent for. A trustee will manage investments, keep records, manage assets, prepare court accounting, pay bills (depending on the nature of the trust), medical expenses, charitable gifts, inheritances or other distributions of income and principal. Estate administration A trust company can be named as an executor or personal representative in a last will and testament. The responsibilities of an executor in settling the estate of a deceased perso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governors Of Jamaica
This is a list of viceroys in Jamaica from its initial occupation by Spain in 1509, to its independence from the United Kingdom in 1962. For a list of viceroys after independence, see Governor-General of Jamaica. For context, see History of Jamaica. Spanish Governors of Santiago (1510–1660) Jamaica was claimed for Spain in 1494 when Christopher Columbus first landed on the island. Spain began occupying the island in 1509, naming it Santiago. The second governor, Francisco de Garay, established Villa de la Vega, now known as Spanish Town, as his capital. * Juan de Esquivel, 1510–1514 * Francisco de Garay, 1514–1523 * Pedro de Mazuelo, 1523–1526 * Juan de Mendegurren, 1526–1527 * Santino de Raza, 1527–1531 * Gonzalo de Guzman, ?–1532 * Manuel de Rojas, 1532–?, ''first time'' * Gil González Dávila, 1533?–1534? * Manuel de Rojas, 1536–?, ''second time'' * Pedro Cano, 1539?, ''first time'' * Francisco de Pina, 1544? * Juan González de Hinojosa, 1556? * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jamaica
Jamaica (; ) is an island country situated in the Caribbean Sea. Spanning in area, it is the third-largest island of the Greater Antilles and the Caribbean (after Cuba and Hispaniola). Jamaica lies about south of Cuba, and west of Hispaniola (the island containing the countries of Haiti and the Dominican Republic); the British Overseas Territory of the Cayman Islands lies some to the north-west. Originally inhabited by the indigenous Taíno peoples, the island came under Spanish rule following the arrival of Christopher Columbus in 1494. Many of the indigenous people either were killed or died of diseases, after which the Spanish brought large numbers of African slaves to Jamaica as labourers. The island remained a possession of Spain until 1655, when England (later Great Britain) conquered it, renaming it ''Jamaica''. Under British colonial rule Jamaica became a leading sugar exporter, with a plantation economy dependent on the African slaves and later their des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dependent Territory
A dependent territory, dependent area, or dependency (sometimes referred as an external territory) is a territory that does not possess full political independence or sovereignty as a sovereign state, yet remains politically outside the controlling state's integral area. A dependent territory is commonly distinguished from a country subdivision by being considered not to be a constituent part of a sovereign state. An administrative subdivision, instead, is understood to be a division of a state proper. A dependent territory, conversely, often maintains a great degree of autonomy from its controlling state. Historically, most colonies were considered to be dependent territories. The dependent territories that currently remain in the world today generally maintain a very high degree of political autonomy. Not all autonomous entities, though, are considered to be dependent territories. Most inhabited dependent territories have their own ISO 3166 country codes. Some political entiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grand Cayman
Grand Cayman is the largest of the three Cayman Islands and the location of the territory's capital, George Town. In relation to the other two Cayman Islands, it is approximately 75 miles (121 km) southwest of Little Cayman and 90 miles (145 km) southwest of Cayman Brac. Geography Grand Cayman encompasses 76% of the territory's entire land mass. The island is approximately long with its widest point being wide. The elevation ranges from sea level at the beaches to above sea level on the North Side's Mastic Trail. Unlike many other Caribbean islands, Grand Cayman is for the most part, flat. This allows for more space to build as the island’s population grows. Island districts Grand Cayman Island includes five of the six districts of the Cayman Islands: Bodden Town, East End, George Town, North Side and West Bay. *Bodden Town – Founded in the 1700s, Bodden Town district comprises the central part of Grand Cayman Island, between the George Town and Nort ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frigate
A frigate () is a type of warship. In different eras, the roles and capabilities of ships classified as frigates have varied somewhat. The name frigate in the 17th to early 18th centuries was given to any full-rigged ship built for speed and maneuverability, intended to be used in scouting, escort and patrol roles. The term was applied loosely to ships varying greatly in design. In the second quarter of the 18th century, the 'true frigate' was developed in France. This type of vessel was characterised by possessing only one armed deck, with an unarmed deck below it used for berthing the crew. Late in the 19th century (British and French prototypes were constructed in 1858), armoured frigates were developed as powerful ironclad warships, the term frigate was used because of their single gun deck. Later developments in ironclad ships rendered the frigate designation obsolete and the term fell out of favour. During the Second World War the name 'frigate' was reintroduced to des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Direct Taxation
Although the actual definitions vary between jurisdictions, in general, a direct tax or income tax is a tax imposed upon a person or property as distinct from a tax imposed upon a transaction, which is described as an indirect tax. There is a distinction between direct and indirect tax depending on whether the tax payer is the actual taxpayer or if the amount of tax is supported by a third party, usually a client. The term may be used in economic and political analyses, but does not itself have any legal implications. However, in the United States, the term has special constitutional significance because of a provision in the U.S. Constitution that any ''direct taxes'' imposed by the national government be apportioned among the states on the basis of population. In the European Union direct taxation remains the sole responsibility of member states. General meaning In general, a direct tax is one imposed upon an individual person ( juristic or natural) or property (i.e. real and p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
