Recent Articles

Cayman see near 7% fall in funds since 2013

Cayman see near 7% fall in funds since 2013

| 02/01/2018 | 0 Comments

(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 o [...]

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CUC demand rates change for big customers

CUC demand rates change for big customers

| 27/12/2017 | 4 Comments

(CNS Business): More than 100 of CUC’s largest customers who are both generating their own power and using power supplied by CUC will face a new rate system in 2018. New Demand Rates for large commercial customers and those with Distributed Energy Resources will allow the customers’ [...]

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CIMA report reveals banking sector under pressure

CIMA report reveals banking sector under pressure

| 21/12/2017 | 1 Comment

(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 2 [...]

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Offshore law firm goes after press in Paradise Papers hack

Offshore law firm goes after press in Paradise Papers hack

| 19/12/2017 | 21 Comments

(CNS Business): The law firm which was the victim of a hack in which millions of documents about their clients’ offshore financial affairs were exposed is taking legal action against the BBC and the Guardian. Both media organisations have stated that they will defend the breach of confiden [...]

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Captive market claims boost to local economy

Captive market claims boost to local economy

| 18/12/2017 | 0 Comments

(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 [...]

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7-bed house on 7MB sells for record price tag

7-bed house on 7MB sells for record price tag

| 18/12/2017 | 0 Comments

(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 [...]

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Golden Spoons Review: Agua

Golden Spoons Review: Agua

| 14/12/2017 | 2 Comments

(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 men [...]

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Golden Spoons Review: Café Amazon

Golden Spoons Review: Café Amazon

| 08/12/2017 | 0 Comments

(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 wh [...]

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Cayman appears on mega ship’s 2019 itinerary

Cayman appears on mega ship’s 2019 itinerary

| 04/12/2017 | 11 Comments

(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 debu [...]

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Concessions renewed for builders and developers

Concessions renewed for builders and developers

| 04/12/2017 | 5 Comments

(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 help [...]

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Almost 20,000 passengers to hit George Town

Almost 20,000 passengers to hit George Town

| 29/11/2017 | 15 Comments

(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 [...]

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7MB #25 on travel website’s best beach list

7MB #25 on travel website’s best beach list

| 27/11/2017 | 3 Comments

(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 agen [...]

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People on the Move: Carey Olsen adds to finance practice

People on the Move: Carey Olsen adds to finance practice

| 27/11/2017 | 0 Comments

(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 struc [...]

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Golden Spoons Review: Boggy Sand Café

Golden Spoons Review: Boggy Sand Café

| 27/11/2017 | 1 Comment

(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. It is in a new buildi [...]

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Commerce minister promises support for SMEs

Commerce minister promises support for SMEs

| 21/11/2017 | 1 Comment

(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 regu [...]

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