Posts Tagged ‘Cayman Islands’

Enterprise Mobility Fuels Global Growth, Entering New Markets in Latin America and the Caribbean

Branch openings in Chile, the U.S. Virgin Islands and the Cayman Islands highlight continued global expansion for the world’s leading car rental business

ST. LOUIS, Jan. 30, 2024 /PRNewswire-HISPANIC PR WIRE/ — Enterprise Mobility is expanding its growing footprint in Latin America and the Caribbean to provide more vehicle rental and mobility options for both business and leisure travelers across the region.

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Today, Enterprise Rent-A-Car branches open for the first time ever in Chile – and National Car Rental and Alamo branches are open once again since exiting during the pandemic – through franchise partner Mediterraneo Automotores S.A., part of Circulo Autos. Circulo Autos is a family-owned holding company with more than 30 years of experience in the mobility industry including a car dealership group that operates 18 locations across four cities in Chile.

Enterprise, National and Alamo brands will be available in five locations including two in the capital city Santiago as well as Talca, Linares and Antofagasta. Franchise expansion plans include introducing service to additional airports in Chile along with adding branches in other major city centers.

“Circulo’s robust infrastructure – dealerships, body shops, maintenance centers and more – provide an excellent foundation for future growth and expansion,” said Paulo Rodriguez, AVP of Global Franchising – Latin America and the Caribbean at Enterprise Mobility. “Expansion into Chile is an important part of our global growth plan, which is designed to ensure our customers have greater access to the brands they know and love, no matter where they travel.”

The opening in Chile is just one of numerous recent franchise openings across the region with Enterprise, National and Alamo branches being introduced for the first time ever in the U.S. Virgin Islands last month. Following the opening of its first location at the Cyril E. King Airport in St. Thomas, the largest international airport in the U.S. Virgin Islands, the business plans to open more franchise branches and provide service on the other two main islands of St. Croix and St. John.

The Cayman Islands also welcomed the Enterprise Rent-A-Car brand last month, with a new branch that services the Owen Roberts International Airport in Grand Cayman being established to complement the National and Alamo branches that were already in operation. Future plans in the region include a new tri-branded airport location featuring Enterprise, National and Alamo that will service the island of Virgin Gorda in the British Virgin Islands.

Enterprise Mobility, through its franchisees, now operates in more than 30 countries and territories in Latin America and the Caribbean, covering the vast majority of countries in the region. Established in 1957, the business has a global presence with a network of more than 9,500 neighborhood and airport rental locations in more than 90 countries and territories and 90,000-plus global team members.

“All of our partners provide the world-class customer service and operational excellence that our customers have grown to know and love,” said Rodriguez. “We’re thrilled to deliver more unforgettable customer experiences for business and leisure travelers across the region.”

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About Enterprise Mobility
Enterprise Mobility is a leading provider of mobility solutions including car rental, fleet management, flexible vehicle hire, carsharing, vanpooling, truck rental, luxury rental, retail car sales and vehicle subscription, as well as other transportation technology services and solutions, to make travel easier and more convenient for customers. Enterprise Mobility, inclusive of its subsidiaries and franchisees, and affiliate, Enterprise Fleet Management, manage a diverse fleet of 2.3 million vehicles through an integrated network of nearly 9,500 fully staffed neighborhood and airport rental locations in more than 90 countries and territories. Privately held by the Taylor family of St. Louis, Enterprise Mobility manages the Enterprise Rent-A-Car, National Car Rental and Alamo brands.

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Channel Capital Cayman adds new Director to its Fund Governance Team

SYDNEY and GEORGE TOWN, Cayman Islands, April 17, 2023 /PRNewswire-HISPANIC PR WIRE/ — Channel Capital Cayman a company within the Channel Capital Group, today announced the expansion of its Cayman Islands team with the appointment of Martin Laufer as Fund Director.

Martin Laufer, Fund Director, Channel Capital Cayman

Channel Capital Cayman provides a high quality governance service to investment funds domiciled primarily in the United States, Cayman Islands and other offshore financial centres. The business was established to leverage the deep and specialised experience of its team, and to assist with ongoing compliance with regulatory obligations through a trusted and highly personalised independent director service.

As an experienced independent director, Martin has been providing fund governance and related services to a variety of offshore investment funds since 2017. Prior to joining Channel Capital Cayman, Martin worked for the Maples Group where he served as an independent director covering a wide range of hedge fund, private equity and infrastructure strategies. From the period 2010 to 2017, Martin was a Fiduciary Fund Manager at BNY Mellon Fund Management (Cayman) Limited where he provided fiduciary and administration services to a large portfolio of Cayman unit trusts, hedge funds and funds of funds, and spent time as a senior client accountant at CIBC Bank and Trust Company (Cayman) Limited. Before moving to the Cayman Islands in 2007, Martin worked as a senior tax consultant at KPMG Argentina. Martin is a certified public accountant, a CFA charterholder and a Certified ESG Analyst® (CESGA).

The Cayman Islands is a world leader in the establishment of offshore funds due to its tax-neutrality, stable economy, sophisticated banking sector and professional financial service industry. Approximately 70% of non-US domiciled alternative investment funds managed by US SEC-registered advisors are domiciled in the Cayman Islands.

“We are excited to have Martin join the business,” said Mark Cook, Executive Director, Channel Capital Cayman.

“Martin’s experience has given him valuable insights into the fund governance space, compliance issues and new trends such as ESG investing that are critical to managing offshore investment vehicles in a responsible manner. He will add depth to our governance platform and will work closely with our clients to help them navigate the ever-changing and complex investment and regulatory environment.”

Fund Director at Channel Capital Cayman, Martin Laufer, said: “I am very pleased to be joining Mark and the rest of the Channel Capital Cayman team. It’s critical to stay up to date with regulatory changes and emerging industry trends and I look forward to providing our clients with the guidance and support they need to manage and oversee their fund investments effectively.”

About Channel Capital Cayman

Channel Capital Cayman is an independent directorship service provider to global hedge and private equity funds and investment vehicles primarily domiciled in the Cayman Islands. This expertise helps to strengthen governance by striking the right balance between investors, fund sponsors and other stakeholders. Our services are tailored to the needs of each board, and we provide oversight and related support services to help boards become more effective.

Our team of directors offers a comprehensive and objective service that covers the entire life cycle of a fund, from pre-launch to maturity. We provide an independent, experienced perspective to boards, offering strategic guidance while ensuring compliance with applicable laws and regulations, including anti-money laundering, tax transparency and other governance complexities.

Channel Capital Cayman is part of the Channel Capital Group – a multi-partner asset management business with staff across six global locations and US$23 billion of client assets serviced as of March 31, 2023.

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Cutting edge therapy for Psoriasis patients now available in the Caribbean

- Clinical trials with over 3,000 treated patients demonstrate its efficacy.

- Studies demonstrated that at least two thirds of the patients obtained 75% improvement of Psoriasis Activity Severity Index.

- This treatment significantly improves the quality of life of patients with moderate to severe plaque psoriasis.

PANAMA CITY, Dec. 2, 2015 /PRNewswire-HISPANIC PR WIRE/ – Psoriasis is a chronic skin disease that affects around 140 million people worldwide.  It’s more frequent between the ages of 15 and 25, but may develop at any age and highly impacts the quality of life.

Several types of psoriasis exist, which range from mild to severe and disabling. Plaque psoriasis is the most common form and is known for producing inflammation and scaly patches of thickened skin called “plaques”. It is caused due to a problem in the immunologic system, where white blood cells that normally become activated to fight infections, are in this case activated against the healthy skin cells.  The cause of the disease is unknown. The immunologic system is activated and produces inflammatory mediators which are responsible for the skin lesions.

During this process, white blood cells release chemical products called “cytokines”, which produce inflammation, reddening of the skin and make the cutaneous cells move from deeper skin layer to surface at a higher speed than normal, (almost 5 times). These cells accumulate and generate the scaly patches. Psoriatic lesions show the aspect of scales, sometimes with a white silver color, while the skin below is red and if scratched it can bleed. Two specific cytokines are increased in the pathogenesis of psoriasis and produce the inflammatory process of the disease (Interleukin 12 and Interleukin 23).

Ustekinumab is a monoclonal antibody that represents the first of a new class of psoriasis therapies that specifically and selectively targets IL-12/IL-23.

Ustekinumab is now available in the Caribbean, specifically in Aruba, Bahamas, Bermuda, Cayman Islands, Curacao and Jamaica.[i] Ustekinumab is commercialized under the brand Stelara™.

This therapeutic alternative is the latest generation of psoriasis treatment. With over 3,000 treated patients (in clinical trials) up to 5 years of treatment. The data obtained proves that the treatment is well tolerated and safe.

Clinical trials demonstrated that at least two thirds of the patients obtained a 75% improvement of the psoriasis, in accordance with the Psoriasis Activity Severity Index (PASI 75), after only two doses of Ustekinumab. This innovative treatment has a very convenient dosage regimen when compared with other biological therapies for psoriasis. After 5 years, approximately 80% of the patients treated with Ustekinumab maintain response.

Until recent years, psoriasis was considered a disease limited to the skin. Recent evidence, from important population studies in psoriatic patients, has demonstrated an increase in mortality and a decrease in life expectancy between 3 to 4 years in patients with psoriasis.

On the other hand, the impact of psoriasis notably influences the quality of life, and this is reflected in the increase of different social and psychoactive pathologies, and in the acquisition of unhealthy habits like tobacco and alcohol, favored by low self-esteem, anxiety, depression and the isolation which patients feel subjected to.[ii]

“Ustekinumab significantly improves the quality of life of patients with moderate to severe psoriasis, as well as their physical and mental functions. After 12 weeks of treatment, patients treated with Ustekinumab present a significant improvement in their mental well-being and their physical condition”, affirmed Dr. Eduardo Franco; Janssen’s Medical Director for Central America and the Caribbean.

The itching and pain, the plaques in their hands and feet may hinder the performance of certain tasks or participation in some activities. Overtime, about 40% of psoriatic patients develop arthritis. “The most severe cases of psoriasis may even generate immobility of the patient. Some patients compare the reduction of their physical activities to the ones generated by other diseases as cancer or heart diseases”, pointed out Dr. Jose Antonio Herrera, Immunology Medical Manager for Janssen.

About Janssen

Janssen is a Company dedicated to the research of providing innovative products that help protect and improve the life of people, and face and solve the most important and unresolved medical needs of our times, in the areas of oncology, immunology, neurosciences and infectious, cardiovascular and metabolic diseases.

Across the different companies of the Johnson & Johnson group, our people are united in the passionate pursuit of solutions through science, in benefit of the patients.

Present in over 50 countries, we share the commitment of the founders of the Company, of innovating in ideas, products and services for the patients of the whole world.

[i] Ustekinumab was approved by the following Health Authorities:
Aruba: Drug Registration Board,
Curacao; Drug Registration Board
Jamaica: Ministry of Health.
Cayman Islands, Bahamas and Bermuda are not regulated countries.

[ii] 2009 Latin American Psoriasis Consensus, treatment guides, Latin American Psoriasis Society

Fact Sheet Psoriasis

  1. Psoriasis is a chronic disease that affects over 140 million people worldwide.
  2. It presents itself more frequently between the ages of 15 and 25, but may develop at any age and highly impacts the quality of life.
  3. The main cause for this disease is unknown. The immunologic system is activated and produces inflammatory mediators which stimulated white cells and infiltrate the skin layers. The deep layer cells move to the outer layer of the skin at least 5 time faster than usual, and this produces the characteristic plaque of the psoriasis.
  4. There are several clinical forms of the disease, plaque psoriasis being the most common form. It is known for producing inflammation and scaly patches of thickened skin called “plaques”.
  5. Moderate to severe plaque psoriasis, notably influences the quality of life.  Severe cases of psoriasis may even generate immobility of the patient.
  6. Some patients compare the reduction of their physical activities to the ones generated by other diseases such as cancer or heart disease.
  7. Ustekinumab is now available in the Caribbean, specifically in Aruba, Bahamas, Bermuda, Caiman Islands, Curacao and Jamaica.[i]  Ustekinumab is commercialized under the brand Stelara™.
  8. Clinical trials with over 3,000 patients treated with Ustekinumab have demonstrated its efficacy. At least two thirds of the patients obtained a 75% improvement of the Psoriasis Activity Severity Index.
  9. After 5 years, approximately 80% of the patients treated with Ustekinumab maintain response.

[i] Ustekinumab was approved by the following Health Authorities:
Aruba: Drug Registration Board,
Curacao; Drug Registration Board
Jamaica: Ministry of Health.
Cayman Islands, Bahamas and Bermuda are not regulated countries.

CONTACT:  Janssen, JoanTownsend, (507) 64306252 or (507) 3989740, tojoa

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FinScan Opens New Cayman Islands Data Center

PITTSBURGH, April 16, 2014 /PRNewswire/ – FinScan, a leading global provider of sanctions/Politically Exposed Persons (PEP) screening solutions, document verification, and sanctions lists today announced the opening of a data center in the Cayman Islands.  The new location was added to meet FinScan’s rapidly growing international client base and complements other data centers in the United States, Canada, and Germany.

Growing client interest in software as a service (SaaS), or “hosted,” options has driven FinScan’s global expansion. The Cayman location was added to serve clients in Latin America and offshore locations such as in the Caribbean who prefer their choice of jurisdiction and location to meet data privacy concerns and operational processing windows.

“FinScan has data centers positioned in key areas of the world to improve service to our international client base,” said Bob Colonna, FinScan’s CEO. “We anticipate that the Cayman facility will provide a resource not only for our clients in the Americas, but those in EMEA and APAC as well.”

FinScan established a second Cayman facility as an extra measure of security to help ensure that customers do not experience breaks in service should there be a catastrophic failure.  To date, FinScan has not had a server go out of service at any of its facilities.  Clients and third parties regularly review FinScan’s security measures and perform penetration tests.  All locations have passed these stringent requirements.

“Our primary focus is on providing our customers with the most efficient, secure service possible,” said Michael Ott, FinScan’s senior vice president.  “Our fast implementation and record of 100% data center uptime make FinScan a safe choice for organizations requiring reliable, fast turnaround.”

The FinScan SaaS solution processes clients’ data to their specifications in either batch or interactive web services and returns the updated files/records to them. Compared to the traditional model of licensing and operating software solutions in-house, hosted processing significantly reduces clients’ initial investments as well as ongoing demands on their internal personnel and hardware resources.  FinScan, on a hosted basis, screens over one billion records monthly – and this number is growing at seventy percent per annum.

“We’re very pleased to provide our clients the added service and security of our Cayman data centers,” said Ott. “Having a secure data center in this centralized region provides organizations around the globe the valuable option of hosted processing to meet their PEP and sanctions screening needs.”

CONTACT: Karin O’Sullivan, 1-412-937-7678, [email protected]

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HBO Negotiations with WestStar TV Reach an Impasse

WestStar continues its unauthorized interception and rebroadcast of HBO programming

MIAMI, Oct. 2, 2013 /PRNewswire/ – Negotiations between HBO Latin America and Cayman Islands cable television operator WestStar TV have reached an impasse, after WestStar management did not accept HBO’s proposals that would have legalized WestStar’s rebroadcast of HBO programming under a licensing agreement with HBO LA.

“We had hoped that after we explored every possible business scenario with WestStar’s management, they would recognize their violation of international intellectual property rights and would have seen an end to WestStar’s unauthorized interception and rebroadcast of HBO programming in the Cayman Islands,” said Miguel Oliva, Vice President for Public Relations and Corporate Affairs at HBO Latin America.

WestStar was reported to have temporarily suspended HBO programming broadcasts for several days after receiving official notification that it lacked the consent and authorization of the copyright owners of the programming to legally distribute the broadcasts. Since then, the signal has been restored under the same non-ethical process. HBO Latin America will continue to pursue WestStar for its ongoing intellectual property rights violations by all means available and through any appropriate regulatory body in the Cayman Islands, the U.S. and Great Britain.

“We are hopeful that the Cayman Islands Government and the local regulatory authority will recognize that local companies such as WestStar should not be allowed to operate in this manner as it is affecting the island’s standing and reputation in the international business community,” said Oliva.  “We intend to pursue this matter with the newly elected government and remain confident that we may still avoid litigation, though HBO will pursue all legal options to enforce its rights and those of the copyright owners.”

HBO Latin America is proud of its licensed and authorized Cayman Islands partners, LIME and Logic, who offer world class HBO and MAX programming to their subscribers with the authority and license of the copyright owners.

About HBO Latin America

HBO Latin America is the premium television network leader that, in addition to being recognized for the quality and diversity of its original programming, films and documentaries, also provides services with the highest technology in SD and HD formats in more than 24 countries of Latin America and the Caribbean through its channels HBO, HBO2, HBO Signature, HBO Plus, HBO Family, HBO Caribbean, HBO On Demand, HBO GO, Cinemax, MAX and MaxPrime.

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Blackberry Travel App Is Now Available In Most Caribbean Markets

CaribPR Wire, MIAMI, FL, Weds. April 6, 2011: BlackBerry® Travel™, an application that provides BlackBerry® smartphone users with an all-in-one integrated tool to plan, book, manage and share travel activities quickly and easily, is now available in the major markets of the Caribbean.

The new app was recently announced in February at MWC 2011 in Barcelona and is now ready for download for BlackBerry users in the following markets: Trinidad and Tobago, Jamaica, Barbados, Puerto Rico, Bermuda, Bahamas, Aruba, Cayman Islands, Virgin Islands and US Virgin Islands.

The BlackBerry Travel app offers convenient push notifications and seamless integration of travel itineraries and flight status updates into the familiar BlackBerry Calendar.  When a new booking confirmation or itinerary arrives in the user’s email inbox, the BlackBerry Travel app is automatically updated with the relevant itinerary details, which makes travel planning and management easier than ever. With the BlackBerry push technology, the BlackBerry Travel app can keep users informed and in control of their itineraries by monitoring flight statuses and promptly providing notifications about changes to their flight information. The app can even identify potential omissions or scheduling concerns with their itineraries, such as missing accommodations or timing conflicts, and provide users with suggestions.

The BlackBerry Travel app also brings together tools that travelers need while planning on the go, including:

  • Hotel booking
  • Currency converters
  • Weather forecasts
  • Local search functionality

In addition, BlackBerry smartphone users can share their travel information with colleagues, friends and family over email or through LinkedIn®, directly from the BlackBerry Travel app. The LinkedIn integration allows users to search for people in their network who will be in the same city, send messages to contacts and update their status.

The BlackBerry Travel app also features a web component that allows users to book flights and car rentals, as well as edit and print itineraries, from their computer.

The BlackBerry Travel app was built in collaboration with WorldMate, a leader in mobile travel platforms.  WorldMate and RIM are working together with leaders in the travel industries such as Continental Airlines, Expedia Affiliate Network, Hilton Worldwide, Starwood Hotels and Resorts, United Airlines to provide BlackBerry Travel app users with an amazing mobile experience.

The BlackBerry Travel app will be available as of today from BlackBerry App World™ ( The app is free and works on select BlackBerry smartphones running the BlackBerry® 5 OS (Device Software) or higher.* For more information please visit

* BlackBerry Travel is available at launch for the BlackBerry® Bold™, BlackBerry® Curve™, BlackBerry® Storm™ and BlackBerry® Torch™ series of smartphones.

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Miller Commission Says No to Direct Taxes in Cayman Islands

Independent report calls for major and immediate cuts in public sector expenditure

 GEORGE TOWN, Cayman Islands, March 16 /PRNewswire/ — Direct taxation has been ruled out for The Cayman Islands, according to a report from an independent economic commission published this week.

 The Miller Report was commissioned by the Cayman Islands government at the request of the British Foreign and Commonwealth Office. In the fourth quarter of 2009, the FCO requested that the Cayman government appoint an independent external commission to undertake a detailed economic assessment of the impact of changes in revenue sources. The report also examines changes in spending and public sector entitlements that would ensure the long term fiscal and economic health of the Cayman Islands. The Miller Commission’s conclusion highlights the need to cut public sector spending and emphasizes that the introduction of direct taxation to the islands is not a viable option.

 Among the report’s major conclusions are the following points:

  • The Cayman government’s expenditure on the public sector and its medical and pension entitlements is no longer fiscally sustainable and is significantly out of line with real world comparables.
  • It should be possible for the Cayman government to restore and maintain fiscal sustainability by undertaking major cuts in public sector spending, by privatizing investments in capital projects, and by selling other assets.
  • The Cayman economy and its government’s revenue are highly dependent on the financial services and tourism industries, and additional levies or taxes on either would be counterproductive.
  • The costs of introducing an authority to collect direct taxation in relation to a highly mobile financial industry would exceed any projected benefit and would be counterproductive in terms of current and projected revenue.

 These findings echo the findings of senior taxation academic Richard Teather in his recent report on the probable effects of direct taxation in the Cayman Islands.

 The Teather Report, commissioned by Cayman Finance, also unequivocally ruled out the introduction of direct taxation to the Cayman Islands, stressing that it would exacerbate the current economic problems in Cayman rather than alleviate them.

 The Teather Report sees the solution to current deficits as a substantial reduction in government expenditure and highlights the fact that government spending in the Cayman Islands is “totally out of line with its peers, having far higher levels of public spending than any other comparable jurisdiction.”

 The comments in the Teather Report are confirmed by the Miller Commission. Miller states in two central conclusions:

 ”Personnel costs are crippling the Cayman Government’s ability to restore its fiscal balance and by any reasonable standard are excessive and unsustainable.”

 ”The Cayman economy and its government’s revenue are highly dependent on the financial services and tourism industries, and additional levies on either would likely be counterproductive.”

 Commenting on the Miller Commission report, Cayman Finance Chairman Anthony Travers, OBE, said:

 ”This is a very comprehensive and academically sound work; the FCO were clearly right to request it. As a result, Cayman Premier McKeeva Bush now has a clear road map towards the right policy for Cayman and the specific remedial revisions to the public sector remuneration and benefits packages.

 ”These problems have clearly developed over a great number of years, but it falls to Premier Bush to bring the Cayman Islands into line now with real world economics.

 ”The Miller Commission is very helpful in specifically targeting the areas where current practices must be revised and changes made.  The report makes clear that there is no sustainable basis on which the Cayman Islands public sector can continue to be isolated from real world economic belt tightening.”

 The chairman of the Miller Commission is James Miller, a former member of President Ronald Reagan’s cabinet who enjoys an international reputation for integrity and technical competence in fiscal matters. As Chairman of the U.S. Federal Trade Commission, Miller was instrumental in reforming the methods of that agency.  Miller is joined on the commission by David Shaw. Shaw served as a Member of Parliament in the U.K. for ten years. He was the U.K. Parliament representative to the European Parliament Committee meetings on single market and financial services regulation. Shaw is Chairman of the Sabrelance group, a U.K. regulated corporate financial advisory firm.

 The final member of the commission is The Hon. Kenneth Jefferson, the Financial Secretary of The Cayman Islands. Mr. Jefferson previously worked in public accounting in both Cayman and London for PriceWaterhouseCoopers and Ernst & Young.

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