Archive for February, 2015
Cayman Finance hosts successful New York event
(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.
CBA elects new council
(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 […]
Cayman leads offshore deal activity in 2014
(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.
Retail bank cutting local jobs
(CNS Business): Workers at the Airport branch of Scotiabank have become the latest victims in the financial services sector to face job losses. Officials from the bank said the branch is being closed in order to consolidate it with the new office in South Sound. As a result there will be job cuts but the […]
New regional leader for sustainable tourism
(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 […]
New retail complex for West Bay
(CNS Business): People living in the district of West Bay will soon see a new development popping up beside Foster’s Food Fair. Cayman Islands’ Jacques Scott Group Ltd has big plans to build a new liquor store and retail complex in the opened plot. However, Retail Division Manager David Hubble said the company is still in […]
Caledonian in liquidation as CIMA revokes licences
(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.
Cayman wins Best Diving award
(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.
Caribbean tourism booming
(CNS Business): As we settle into 2015, with it comes the forecast for a bustling and booming tourism season in the Caribbean. Â 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 […]
Cooler weather cuts CUC profits
(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 […]
Butterfield introduces first chip and PIN cards to Cayman
(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 […]
Widening inequality gap will hurt CI economy
(CNS Business): The gap between the “haves†and the “have-notsâ€, which is squeezing out the middle classes, combined with technologies that are cutting white-collar jobs could soon have detrimental impact on the Cayman Islands economy. Speaking at the recent Fidelity CEO conference, Anwer Sunderji said “global wealth has become dramatically unequally†and the gap is widening.
Students tackle real life business problems
(CNS Business): Five local businesses are enjoying the benefit of free business advice from a group of students at the University College of the Cayman Islands (UCCI) who are on business course. Atlantic Supply Ltd, Chatterbox, Kelly Holding Ltd, Swim & Trim Ltd and Ted Green Fragrances are taking part in the consulting programme in […]
C&W dials up the profits during 3rd quarter
(CNS Business): Cable & Wireless Communications (CWC) announced group revenue was up 5% at $444 million when it released the results of its third quarter performance and financial position. The communication giant and parent company of LIME said mobile revenue was up 4%, driven by strong subscriber growth across Panama and LIME markets. The firm […]
Viewpoint: Uncle Sam’s Stronger Arm
Commentary by 101:Â 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 […]
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