Recent Articles
Cayman see near 7% fall in funds since 2013
(CNS): The Cayman Islands saw another fall in the number of funds registered in the jurisdiction at the end of 2016, according to figures released by the Cayman Islands Monetary Authority (CIMA) in its recently published Investments Statistical Digest for that year. Since 2013, when the number of funds peaked at 11,379, there has been a 6.97% […]
CIMA report reveals banking sector under pressure
(CNS Business): A report assessing the health of the Cayman Islands banking sector in 2016 has revealed that the sector remains “vulnerable to global macroeconomic environments, as well as political uncertainty and regulatory policy changes from advanced and emerging countries”. The 2016 Banking Statistical Digest also revealed that while local GDP and government finances improved in 2016, […]
7-bed house on 7MB sells for record price tag
(CNS Business): A single family home on Seven Mile Beach was sold last week for a record-breaking US$12.5 million, the highest sale price for a stand-alone family house in the Cayman Islands. Kim Lund from RE/MAX, who sold the Coconut Walk Estate, said it eclipsed the last record price for a home sale by over US$4.5 million. […]
Captive market claims boost to local economy
(CNS): The Insurance Managers Association of Cayman claims that the captive market generated US$100 million for the local economy in 2016, based on recently published results from an economic impact survey. An IMAC survey found that the captive industry generated US$72 million in revenue for Cayman’s service providers, and currently provides employment for around 300, nearly half of whom […]
Golden Spoons Review: Agua
(CNS Foodie): My partner and I arrived for brunch at Agua just after the 11:30am opening, already starving and anxious to get started on the meal. After a little wait to get seated we were ushered to our booked table, which we were sharing with some friends. A waiter arrived and explained the menu to […]
Golden Spoons Review: Café Amazon
(CNS Foodie): I will admit to having a soft spot for Café Amazon since it seems to be one of the few businesses on this island trying to make a difference by embracing the idea of a zero carbon footprint. They also say they source their ingredients locally and use organic coffees and teas. So […]
Cayman appears on mega ship’s 2019 itinerary
(CNS): MSC Cruises has announced that its mega ship, Meraviglia, a 5,700-passenger ‘smart’ ship that was launched this summer, will include the Cayman Islands on its itinerary during the 2019 autumn season, even though there will be no piers in George Town when the ship makes is debut in the Caribbean. According to a press […]
Concessions renewed for builders and developers
(CNS Business): The government will be continuing the flat 15% import duty rate on building materials imported to Grand Cayman for another year, officials have confirmed. The duty cut has been running for several years and Finance Minister Roy McTaggart claimed the concession was working and helping to boost the economy. “The government is committed […]
Golden Spoons Review: Ave
(CNS Foodie): When you’re preparing to go out for dinner, there’s this surging excitement, almost childlike anticipation, of the possibilities of the epicurean night ahead. For me, it’s the prospect of sampling someone’s culinary creativity, a chance to take pointers from experts in a field in which I’ve dabbled, albeit as a domestic thrill, never […]
Almost 20,000 passengers to hit George Town
(CNS Business): The cruise sector will be enjoying a bumper day Wednesday as more than 19,700 people will be arriving in George Town on six ships in the busiest day of the year. Cruise arrival numbers had been down for this year at the end of October, as rough weather had impacted the calls, but […]
Golden Spoons Review: Boggy Sand Café
(CNS Foodie): In the mood for a change of scenery, my companion and I decided a small trip to West Bay was in order, plus the opening of a new café had caught my eye. We found the place fairly easily; the Boggy Sand Café is in the car park next door to Foster’s Republix. […]
7MB #25 on travel website’s best beach list
(CNS Business): Grand Cayman’s Seven Mile Beach has come in at number 25 on a list of the world’s top fifty beaches by a Canadian online travel company. Around 1,800 beaches were said to have been evaluated and some 600 of world’s best travel journalists, editors, bloggers and agencies were consulted by Flight Network to […]
People on the Move: Carey Olsen adds to finance practice
(CNS Business): This month, offshore law firm Carey Olsen has expanded its finance practice in the Cayman Islands with the appointment of Dylan Wiltermuth, who has joined the firm as counsel. The firm said Wiltermuth is an experienced Cayman Islands lawyer who specialises in all aspects of structured finance and securitisation transactions, as well as […]
Commerce minister promises support for SMEs
(CNS Business): Joey Hew, the new minister for commerce in the Unity government, has said that the 2018/19 budget includes funding to support the small and micro business sector and that this administration is also aiming to reduce fees for them as well as cutting regulations and red tape that serve no purpose or are more […]
Scott defends Cayman at offshore conference
(CNS Business): The CEO of Cayman Finance, Jude Scott, defended the Cayman Islands’ financial services sector at an offshore conference in London recently. Taking a seat alongside several high-profile journalists at the 6th Annual OffshoreAlert Europe Conference in London, he was the only panelist representing the financial industry in a discussion about the recent data hack and leak […]
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