Archive for March, 2015

Stay-over tourism numbers soar

Stay-over tourism numbers soar

| 31/03/2015 | 0 Comments
(CNS Business): The Cayman Islands continue the record-breaking trend into 2015 when it comes to stay-over guests on the islands. In what tourism officials are expecting to be the best year yet, so far the islands have welcomed a total of 70,164 people in air arrivals for the month of January and Fe [...]

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Brokers break away from CIREBA

Brokers break away from CIREBA

| 30/03/2015 | 8 Comments
(CNS Business): The majority of realtors in Cayman are members of the not-for-profit industry organisation, the Cayman Islands Real Estate Brokers Association (CIREBA). However, many real estate company owners are speaking out and telling CNS Business it’s time break away from the organisation [...]

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UK demands ownership registry

UK demands ownership registry

| 30/03/2015 | 3 Comments
(CNS Business): UK leaders have been battling with British overseas territories and crown dependencies to “open their books” and comply with the demands to create a beneficial ownership registry, which would affect around 2.5 million companies. Now, offshore financial centres, including the Ca [...]

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Local real estate agents face $5.6M lawsuit

Local real estate agents face $5.6M lawsuit

| 30/03/2015 | 11 Comments
(CNS Business): Re/Max Cayman Islands, as well as agents Kim Lund, James Bovell, Oliver De Hart and prospective developer, Michael Beggs, are all facing a multi-million dollar lawsuit in the US over commission taken on condo sales in a proposed East End development that never happened. The men are a [...]

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ESO’s annual surveys start Monday

ESO’s annual surveys start Monday

| 27/03/2015 | 0 Comments
(CNS Business): Starting on Monday 30 March, the Economics and Statistics Office (ESO) will conduct multiple surveys to measure the economic performance in the Cayman Islands. The annual surveys apply to all who produce goods and services in the area. [...]

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Cayman gives bootlegs the boot

Cayman gives bootlegs the boot

| 27/03/2015 | 1 Comment
(CNS Business): Big changes are coming to Cayman’s current copyright laws, change that will not only offer better intellectual property protection, but also increase government revenue by multiples of $5 to $10 million in direct benefits. On Thursday government officials and cabinet members held a [...]

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SEC reduces injunction on Caledonian’s US assets to $7M

SEC reduces injunction on Caledonian’s US assets to $7M

| 27/03/2015 | 26 Comments
(CNS Business): The US Securities and Exchange Commission reduced the freeze on the beleaguered Caledonian Bank’s assets this week from $76 million to just $7 million, the creditors have revealed. The bank was brought to its knees when the SEC filed suit against it and its bosses over an alleg [...]

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Dart boss shares UK platform with premier

Dart boss shares UK platform with premier

| 26/03/2015 | 9 Comments
(CNS Business): Cayman’s leader, Premier Alden McLaughlin, was joined by the COO of Dart Enterprises at the House of Lords this week in promoting Cayman when he delivered a key-note address at the Caribbean Council reception. As McLaughlin sold the crowd on the benefits of investing in Cayman and [...]

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Local staff help 7MB hotel shine

Local staff help 7MB hotel shine

| 25/03/2015 | 0 Comments
(CNS Business): Hiring Caymanian staff has really paid off for one hotel on Grand Cayman. While two other major resorts along Seven Mile Beach have recently gone on the market, Comfort Suites, located on the same block on the island, has learned that it has more to smile about these days when greet [...]

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Cayman updating copyright law

Cayman updating copyright law

| 25/03/2015 | 1 Comment
(CNS Business): Minister of Commerce Wayne Panton announced the Cayman Islands would soon be falling under the UK’s umbrella regarding copyright laws. The minister explained the aim is to offer stronger intellectual property protection that is in line with Britain. [...]

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Cayman Finance slams article

Cayman Finance slams article

| 25/03/2015 | 0 Comments
(CNS Business): Cayman Finance CEO Jude Scott is firing back against a recent article about the US Department of State Report, listing the Cayman Islands as a “country of primary concern” for money laundering and financial crimes. Scott stated ComplianceAid, an AML/CFT consulting firm, took the [...]

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Cayman on US money laundering list

Cayman on US money laundering list

| 24/03/2015 | 2 Comments
(CNS Business): Seven Caribbean countries find themselves on the US “Major Money Laundering List for 2015”. The United States Government published its “2015 International Narcotics Control Strategy Report” on Wednesday, and the Cayman Islands is on the list. [...]

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DCI encourages young entrepreneurs

DCI encourages young entrepreneurs

| 24/03/2015 | 1 Comment
(CNS Business): The Department of Commerce and Investment (DCI) is looking for young entrepreneurs between the ages of 15 and 21 to compete in the Business Plan Competition at the Small-Business Expo on Saturday 18 April. [...]

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Obama heading to the Caribbean

Obama heading to the Caribbean

| 24/03/2015 | 0 Comments
(CNS Business): America’s President, Barack Obama, will make his first presidential visit to Jamaica on 9 April. Reports from the White House stated the trip is focused on strengthening security in the Caribbean. Officials said in a release that Obama would visit the island nation to meet leaders [...]

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Liquidators call first creditors’ meeting for Caledonian

Liquidators call first creditors’ meeting for Caledonian

| 24/03/2015 | 0 Comments
(CNS Business): Creditors for Caledonian bank are scheduled to have their first meeting with the liquidators next month as they begin the process of finding out who the bank owes and how much. One of Cayman’s oldest offshore banks, Caledonian and Caledonian Securities were brought to their knees [...]

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