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A man collects empty cans at the seafront ahead of the arrival of Tropical Storm Ian in Havana, Cuba, September 26, 2022. REUTERS/Alexandre MeneghiniHAVANA, Sept 26 (Reuters) - Hurricane Ian is expected to hammer western Cuba late in the day with heavy winds and rain and a potentially life-threatening storm surge after strengthening overnight from a tropical storm, the National Hurricane Center (NHC) said on Monday. "Devastating wind damage is possible where the core of Ian moves across western Cuba," the center said. The U.S. hurricane center said the highest risk of life-threatening storm surge would occur along Florida's western coast from Fort Myers to the Tampa Bay region. In Cuba, officials have placed the island's western provinces under a hurricane alert and have announced plans for allocating food and evacuating people from low-lying areas.

President Joe Biden on Saturday approved an emergency declaration for Florida as the state faces a potential major hurricane from what is now Tropical Storm Ian, the White House said. It could approach Florida’s western coast by Wednesday or Thursday, according to the National Hurricane Center. On Saturday, the governor expanded that to apply statewide, citing the risk of a major hurricane making landfall on Florida’s western coast. A hurricane warning was in place for Grand Cayman and tropical storm watches were in place for Little Cayman and Cayman Brac. Ten people died in the U.S. directly from the storms, and there were 82 “indirect” deaths, most of which were in Florida, according to a National Hurricane Center report.

☆ Tropical storm Ian to become hurricane on Sunday, NHC says
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 24 (Reuters) - Tropical storm Ian is expected to become a hurricane on Sunday, reaching major hurricane strength by late on Monday before it reaches western Cuba, the U.S. National Hurricane Center (NHC) said. The center of Ian is forecast to pass well southwest of Jamaica on Sunday and pass near or west of the Cayman Islands early on Monday, the agency said in its latest advisory. Ian will then move near or over western Cuba on Monday night and early on Tuesday, emerging over the southeastern Gulf of Mexico on Tuesday, it added. The storm is located about 395 miles (635 km) southeast of Grand Cayman packing maximum sustained winds of 50 miles per hour (80 kph), NHC saidRegister now for FREE unlimited access to Reuters.com RegisterReporting by Anirudh Saligrama in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Florida Prepares for Possible Hurricane: What to Know About Tropical Storm Ian
▼ + stars: | 2022-09-24 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

A storm system moving across the Caribbean Sea is expected to become a hurricane this weekend, threatening the Cayman Islands, Cuba and southern Florida as it makes its way to the Gulf of Mexico, hurricane forecasters said. The National Hurricane Center Friday urged residents in Cuba and Florida to prepare for a possible major hurricane early next week, and Florida Gov. Ron DeSantis issued an emergency order for 24 counties in the storm’s potential path.

☆ Florida officials urge residents to prepare for coming storm Ian
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Sept 24 (Reuters) - Officials in Florida urged residents of vulnerable coastal regions to prepare for the expected arrival of a potentially dangerous storm named Ian, but no evacuations have been ordered. The storm could begin hitting southern Florida late on Monday or Tuesday morning. It is first expected to hit Jamaica, Cuba and the Cayman Islands, according to the U.S. National Hurricane Center. Sarasota Mayor Erik Arroyo told CNN that the city had been in touch with Florida Power & Light, and urged residents to prepare for a storm. Register now for FREE unlimited access to Reuters.com RegisterReporting by Diane Bartz Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Francis Bruhm, Project Manager for general contractor G&R Kelly, places sandbags around the doors of the Nova Scotia Power building before the arrival of Hurricane Fiona in Halifax, Nova Scotia, Canada September 23, 2022. It was due to make landfall in eastern Nova Scotia Saturday morning, but rain and wind had already started Friday night. Canadian authorities sent emergency alerts in Nova Scotia and Prince Edward Island, warning of severe flooding along shorelines and extremely dangerous waves. The storm could prove more ferocious than the benchmarks of Hurricane Juan in 2003 and Hurricane Dorian in 2019, Canadian Hurricane Centre meteorologist Bob Robichaud told a briefing. Trailing Fiona in the Caribbean is Tropical storm Ian, which is expected to become a hurricane on Sunday night.

Francis Bruhm, Project Manager for general contractor G&R Kelly, places sandbags around the doors of the Nova Scotia Power building before the arrival of Hurricane Fiona in Halifax, Nova Scotia, Canada September 23, 2022. REUTERS/Ingrid Bulmer/File PhotoHALIFAX, Nova Scotia, Sept 24 (Reuters) - Powerful storm Fiona slammed into eastern Canada on Saturday with hurricane-force winds, nearly a week after devastating parts of the Caribbean. The U.S. National Hurricane Center said the center of the storm, now called Post-Tropical Cyclone Fiona, was crossing eastern Nova Scotia, bringing high winds and heavy rains. Register now for FREE unlimited access to Reuters.com RegisterExperts predicted high winds, storm surges and heavy rainfall from Fiona. Canadian authorities sent emergency alerts in Nova Scotia and Prince Edward Island, warning of severe flooding along shorelines and extremely dangerous waves.

☆ Fiona bears down on northeast Canada as big, powerful storm
▼ + stars: | 2022-09-24 | by ( ) www.cnbc.com time to read: +6 min

A youth rides his bycicle at the seaside in Nagua, Dominican Republic, on September 19, 2022, as Hurricane Fiona passes through the country. Fiona, which started the day as Category 4 storm but weakened to Category 2 strength late Friday, was forecast to make landfall in Nova Scotia early Saturday. The Canadian Hurricane Centre issued a hurricane watch over extensive coastal expanses of Nova Scotia, Prince Edward Island and Newfoundland. The U.S. National Hurricane Center said Fiona should reach the area as a "large and powerful post-tropical cyclone with hurricane-force winds." It was centered about 140 miles (220 kilometers) southeast of Halifax, Nova Scotia, heading north at 46 mph (74 kph).

☆ The Fed's rate hike was just the beginning as banks around the world adjust policy - but the uncertainty doesn't mean the market can't rally.
▼ + stars: | 2022-09-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The Federal Reserve's Wednesday rate hike was just the beginning of the world's fight against inflation. A smattering of other central banks have followed suit, while some others took a different course. For now, pain fueled by central banks is likely to continue. The Fed's 75 basis-point rate hike on Wednesday was the first of many such moves this week as the policymakers globally confront surging prices. Three investing experts explained how to adjust your portfolio to benefit from the Fed's rate hike and rising inflation.

☆ China shifts US bond holdings offshore, potentially beyond the reach of any future currency sanctions, report says
▼ + stars: | 2022-09-22 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Meanwhile, the Cayman Islands saw a $38.5 billion rise in China's Treasury holdings, and Bermuda saw a $7 billion increase. China may be protecting dollar-denominated assets from any future sanctions like the kind that froze Russia's foreign currencies. Meanwhile, China's Treasury holdings located in the Cayman Islands and Bermuda jumped by $38.5 billion and $7 billion, respectively. Shifting them offshore could protect China's dollar-denominated assets from the potential of future sanctions, like the kind that froze Russia's foreign currency reserves, Nikkei said. And while its Treasury holdings drift lower, China's gold imports more than doubled in August year over year to $10.36 billion, according to Nikkei.

☆ Petrodollar rush may disappoint Western financiers
▼ + stars: | 2022-09-20 | by ( Liam Proud | ) www.reuters.com time to read: +6 min

Yet Western financiers hoping to share in the spoils of a 1970s-style petrodollar boom will be disappointed. In previous petrodollar booms, energy producers have recycled their windfalls into the Western financial system. These financial flows, known as petrodollar recycling, mean that the money Westerners spend on fuel eventually makes its way back into their economies through energy producers’ financial investments. Either way, it would mean that Westerners miss out on some of the spoils of the new petrodollar boom. A more muted petrodollar boom might not be such a bad thing after all.

But whatever your feelings toward Elizabeth, it’s clear that the institution of the British monarchy is far from benevolent. Meanwhile, the exact worth of the British monarchy is very difficult to calculate. The Sunday Times' Rich List calculated the queen’s personal net worth as 370 million pounds (more than $420 million), while the author and royal expert David McClure estimated it at 400 million pounds (around $460 million). In 2021-2022, the royal household’s financial report calculated this as 86.3 million pounds ($98.5 million). (According to the BBC, this portfolio generates around 20 million pounds a year in profits.)

The Hong Kong billionaire is offering $240 million to buy out minority shareholders in Caymans-registered Lifestyle International (1212.HK), his department store chain. Several Hong Kong tycoons have fallen foul of the notorious tests, which the Cayman Islands will scrap at the end of this month. Hong Kong dropped the rule in 2014, but is home to just 8% of the city’s listed companies. Lifestyle is domiciled in the Cayman Islands, which at the end of August will drop a requirement for the so-called headcount test. Almost 60% of primary-listed Hong Kong companies are domiciled in the Caribbean tax haven.

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