Commentary by 101: For years those with an inkling of interest in how the global monetary system works have bemoaned the fact that the US wields far too much power because it is the clearing house for US dollars. Banks from all corners of the world have accounts at US correspondent banks so they can move […]
(CNS Business): Cayman Finance hosted another successful New York Breakfast Briefing at the Harvard Club of New Your City. This was the second time the organisation hosted the event, but it was the first time since the appointment of new CEO, Jude Scott.
(CNS Business): A new council has been elected for the Caymanian Bar Association. Abraham Thoppil was returned as President when members elected the 2015 council during the recent annual general meeting. Outgoing Vice President Brett Basdeo was succeeded by Nick Rogers. Neil Timms QC also returned as Treasurer, and Nick Joseph was elected for the spot […]
(CNS Business): The Cayman Islands has remained the top target destination for offshore dealmaking throughout 2014, according to a report released by offshore law firm Appleby. The reported showed that the final three months of the year accounted for a quarter of all deals.
(CNS Business): A new chairman has been slated for the Caribbean Alliance for Sustainable Tourism (CAST). Prominent Caribbean hotelier Karolin Troubetzkoy has now been appointed. A report released by CAST stated the appointment is the latest Caribbean tourism sector leadership role for the hotelier who serves as Executive Director of the storied Jade Mountain and Anse […]
(CNS Business): Controllers appointed by CIMA to oversee the affairs at the beleaguered Caledonian Bank and Caledonian Securities have been officially named by the local regulator as the joint official liquidators. Following the controllers’ interim report, the Cayman Islands Monetary Authority has revoked the licences and petitioned the Grand Court to wind up the bank.
(CNS Business): The Cayman Islands have been recognized by the scuba diving industry as one of the Caribbean’s premier dive destination. SCUBA DIVING magazine has released its “2015 Reader’s Choice Awards” and named the Cayman Islands as the Caribbean/Atlantic region’s “Best Overall Diving” destination.
(CNS Business): As we settle into 2015, with it comes the forecast for a bustling and booming tourism season in the Caribbean. The Caribbean Tourism Organization (CTO) recently published data that shows a record 26.3 million tourists traveled to the Caribbean last year, and that number is expected to grow even more. The study states […]
(CNS Business): Power consumption was down 3% for the last quarter of CUC’s financial year due to cooler weather, the firm said yesterday as it released its figures for the three months ended December 31. But the monopoly power provider and its shareholders are not out of pocket, since a growth in customer numbers boosted net earnings for the year to $20.8 […]
(CNS Business): Butterfield Bank has become the first high street bank in Cayman to introduce chip and PIN credit cards. Although the cards which have a higher level of security have been in use in common use in Europe and the US for over a decade, none of the local banks have issued them to […]