Archive for July, 2015
Appleby sells fiduciary business
(CNS Business): Offshore trust giant, Appleby, has announced a management buyout of its fiduciary business, AFB, which includes the corporate administration, trust administration and fund services businesses. The deal, for an undisclosed sum, is backed by private equity firm Bridgepoint.
Cayman to introduce new opt-in AIFMD Regime
(CNS Business:) The Cayman Islands Government is setting up new regimes that will allow managers to opt-in to reporting consistent with the European AIFMD requirements. On Friday two draft bills were published which make certain amendments to the Mutual Funds Law (MFL) and Securities Investment Business Law (SIBL).
Merchants push for cruise port development
(CNS Business): Some prominent merchants told CNS Business that they feel cruise tourism would plummet if a new cruise berthing facility is not built in the George Town Harbour. Business owners say it’s time for the island to move forward, while those against the cruise port continue to lobby against the idea in hopes that the government […]
Airport holds specialist operations course
(CNS Business): A double specialist training session for airport staff in operations and safety saw more than 35 employees from the Cayman Islands Airports Authority (CIAA) participate alongside four of their peers from Norman Manley International Airport in Kingston, and Sangster International Airport in Montego Bay in Jamaica. The two airfield operations courses were held […]
Air arrivals drop in May
(CNS Business:) Statistics show air arrivals for the month of May have dropped by 6% when compared to the same month last year. The data revealed 29,265 tourists traveled to the islands by plane, which is 1,859 less than the 31,124 airline passengers who flew to Cayman in May 2014.
Free Data Weekend hits the spot
(CNS Business): Prepaid mobile customers rejoiced when telecommunication provider LIME offered free data last weekend as part of their “Big Your Life” summer promotion. The free offer is a first in the Cayman Islands and a first for LIME Caribbean. Prepaid customers were able roam the web, download music and much more free of charge, from […]
Local airline adds extra Honduras flight
(CNS Business): Cayman Airways is adding another flight weekday flight to La Ceiba, Honduras, in order, to meet summer demand for trips to the central American nation, the airline said. The National Flag Carrier has added a new Wednesday flight to the schedule for July and August. The additional flight began on 1 July and […]
CONCACAF cuts ties with firm caught in FIFA scandal
(CNS): The Confederation of North, Central America and Caribbean Association Football (CONCACAF) has cut ties with the sports marketing firm Traffic, which was cited in the US justice department’s massive FIFA corruption and racketeering investigation for allegedly bribing football officials. CONCACAF said Monday that the relationship has come to end by mutual agreement but it […]
Cruise ships coming to Cuba
(CNS Business): Starting in May 2016, the world’s largest cruise company, Carnival Corporation, plans to offer trips from Miami to Cuba. On Tuesday the cruise company announced they have won approval from the US Department of Treasury and US Department of Commerce to operate culturally-themed cruises to the Caribbean island nation. The trips will be […]
Cayman gears up for Common Reporting Standard
(CNS Business): It’s time for another round of international tax cooperation in the Cayman Islands, and now government leaders are turning their attention to what comes next, implementing the OECD’s Common Reporting Standard (CRS). The Cayman Islands Department for International Tax Compliance (DITC) has noticed local financial institutions of the next step and said the […]
Mental health and palliative care lead conference agenda
(CNS Business): Organizers of the sixth annual Cayman Islands Healthcare Conference have confirmed that this year’s event will take place from 29 to 31 October, and will focus on emerging trends in healthcare, especially on mental health, palliative care and allied healthcare. As in previous years, the event is free of charge, with conference costs being covered […]
CIMA fills deputy spots in key divisions
(CNS Business): Cayman’s offshore regulator has filled two of its vacant senior posts with the appointment of deputies heads of departments. The Cayman Islands Monetary Authority (CIMA) said Razaak ‘Raz’ Busari had been appointed as deputy Head of Insurance Supervision Division last month while Caymanian Garth Ebanks was appointed as Deputy Head of Investments and […]
Ebanks flies to airport but keeps foot in labour office
(CNS): The former director of the Department of Labour and Pensions (DLP) has started work as the new head of human resources for the Cayman Islands Airports Authority (CIAA) but is still working part time for the labour office. The airport issued a press release on Friday announcing Mario Ebanks’ arrival there, just days after Ebanks confirmed he […]
Three local dive pioneers will enter Scuba Hall of Fame
(CNS Business): Three dive pioneers of the Cayman Islands will soon find their names in the 2015 International Scuba Diving Hall of Fame (ISDHF). Local honourees, Gladys Howard, Nancy Easterbrook and the late Dr James “Jimmie” Poulson will be recognised at the induction ceremony this October.
Walkers announces two new hires for Cayman office
(CNS Business): Attorneys Stuart Rowe and Brett Basdeo have joined the Cayman Islands office of offshore law firm Walkers. Basdeo, who previously worked for rival firm Maples and Calder, joins Walkers as an Associate in its Insolvency & Dispute Resolution team. Rowe, formerly an Associate at Solomon Harris, joins Walkers as Senior Counsel to head Walkers’ real estate group.
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