History of Madeira the ships, the Germans proceeded to bombard Funchal for two hours from a range of about . Batteries on Madeira returned fire and eventually forced the Germans to withdraw. In 1917 on December 12, two German U-boats, and (captained by Max Valentiner) again bombarded Funchal, Madeira. This time the attack lasted around 30 minutes. Forty, 4.7 inch and 5.9 inch shells were fired. There were 3 fatalities and 17 wounded, In addition, a number of houses and Santa Clara church were hit. A priest, José Marques Jardim, promised in 1917 to build a monument should peace ever return to Madeira.
Economy of the Cayman Islands 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. 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. From