Archive for October, 2014
Shippers club worries retailers
(CNS Business): Cayman’s local shipping lines appear to have joined the Caribbean Shipowners Association (CSA), which local retailers fear will lead to future price hikes that will have to be passed on to customers. Some local merchants and wholesalers have raised concerns that with Hybur, Seaboard Marine and Tropical Shipping all joining the association and […]
Shetty hospital features in documentary
(CNS Business): As Health City Cayman Islands continues its outreach to attract patients from North America to the state-of-the-art facility, the hospital was featured in a documentary that premiered at an international healthcare conference in Salt Lake City, Utah, last month.
Panton signs latest global information exchange deal
(CNSBusiness): The Cayman Islands government joined more than 50 countries Wednesday, when it signed the latest agreement to tackle global tax evasion. Wayne Panton, the financial services minister, signed on the dotted line of the OECD’s Multilateral Competent Authority Agreement (MCAA) in Berlin, the latest worldwide standard for automatic exchange of information (AEOI) among tax […]
Offshore compulsory winding up petitions drop
(CNS Business): Compulsory winding up petition filings in most offshore jurisdictions fell, on average, by 31% in the first three quarters of 2014 as compared to the same period last year, according to Appleby, one of the world’s largest providers of offshore legal, fiduciary and administration services. The new data, published in Snapshot: Interim Report […]
Dart fund seeks Argentina debt
(CNS Business): EM Limited, a hedge fund founded by billionaire Kenneth Dart, is pushing for US$835 million it is owed by Argentina. A federal judge, backed by the US Supreme Court, ordered Argentina to pay US$1.33 billion plus interest to so-called ‘holdout’ bondholders led by Elliott Management’s NML Capital Ltd and Aurelius Capital Management to […]
Cayman showcased as luxury destination
(CNS Business): The Cayman Islands will be featured in a hit TV show that highlights how wealth is achieved, used and enjoyed, thanks to a pitch made by local fibre optic company, C3 Pure Fibre, to cable TV network AWE. The network sent a film crew to Cayman in June to film the luxurious lifestyle […]
Byles pens offshore textbook for BVI
(CNS Business): Local banker and consultant Paul Byles has recently authored a first-of-its-kind introductory textbook on the offshore financial services industry with specific focus on the British Virgin Islands, on behalf of the BVI regulator, the Financial Services Commission. This is Byles’ second book, having already published Inside Offshore, a guide to offshore services and […]
Young Caymanians join law firm as articled clerks
(CNS Business): Walkers has announced the appointment of three new Caymanian articled clerks. Renee Prendergast, Arleth Ebanks and Rebecca Peck, who are all former Walkers scholarship recipients, have completed their legal education and have now begun Walkers’ Articled Clerk Training Programme. Over the next 18 months they will undergo rigorous training with the firm and will […]
$21m top up keeps CAL flying
(CNS Business): Despite an increase in the output funding from government to Cayman Airways Limited (CAL) to ensure the national flag carrier can support tourism related and domestic routes, as well as a growth in general revenue in 2012, the airline still ended the year with a more than $4.3 million loss. Government boosted its […]
August cruise arrivals up 57%
(CNS Business): So far this year, cruise ship passenger arrivals are up 17.27% on last year’s figure, with the numbers for August showing a significant rise of 56.78% to 105,936 passengers (up from 67,571 in 2013) from just 16 ships. Year to date cruise arrivals are 17.27% higher in 2014 versus 2013. Air arrivals for the month […]
Cayman tops Banker survey for sixth time
(CNS Business): Cayman’s position as the world’s top specialised financial centre was reconfirmed again this week with the news that this jurisdiction has come first in a leading international survey, topping the specialised financial centres ranking, as compiled by The Banker magazine. This is the sixth consecutive year that the Cayman Islands has led the […]
CI Law School graduate returns from Asia
(CNS Business): Sailaja Alla, senior associate at Harneys, has returned to the Cayman Islands following a series of secondments in Hong Kong. The Cayman Islands Law School graduate spent a total of 4 years working in Asia and has resumed life on island with a wealth of valuable experience, the firm says. “Hong Kong is incomparable […]
Last chance for tourism job drive this Saturday
(CNS Business): The Cayman Islands Tourism Association (CITA) is once again partnering with the National Workforce Development Agency (NWDA) to host CayTED (Cayman Tourism Employment Drive). The first drive dates took place on 18 October and the second will be this Saturday 25 October. Anyone who is unemployed and wants to qualify to be screened […]
Tickets now on sale for Cayman Cookout 2015
(CNS Business): Tickets are now on sale for the Cayman Cookout, which will be hosted by Chef Eric Ripert from 15-18 January 2015. The seventh annual event, hosted by the Cayman Islands Department of Tourism, The Ritz-Carlton, Grand Cayman, and Food & Wine Magazine, will celebrate the Cayman Islands’ dynamic food scene with some of […]
Chamber Pension Plan appoints new acting Chairman
(CNS Business): Experienced financial services professional Eduardo D’Angelo Silva has been appointed as the acting chairman of the Chamber Pension Plan, following the recent resignation of Ashita Shenoy, who said she resigned in order to avoid any conflicts of interest that could arise from the plan’s investment in an audit client. “As a member of an audit firm, […]
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