Archive for February, 2016
Cayman details alternative to open beneficial owners register
(CNS Business): Financial Services Minister Wayne Panton has been in discussions with UK officials about alternatives to the controversial central public register of beneficial ownership that will still meet the British government’s transparency requirements for its territories. Panton updated representatives from the Foreign and Commonwealth Office (FCO) who visited the Cayman Islands on Tuesday about progress his ministry […]
Cayman operations boost Butterfield’s earnings
(CNS Business): The Chief Executive Officer of Butterfield, Michael Collins, said the bank was encouraged by improving economic conditions last year, which has resulted in a 6% increase in deposits, and a boost to core earnings of over $7.5 million, according to figures in the bank’s annual report. Butterfield’s net income last year was still down […]
$100k raised for sharks from local beer
(CNS Business): The five cents collected from every bottle of the Cayman Islands Brewery’s White Tip larger has raised more than $100,000 for shark conservation programmes over the last two years and there are high hopes for even more following a new partnership with local artist and marine conservationist, Guy Harvey. White Tip launched a […]
Police train trade officer with new powers
(CNS Business): Under new legislation dealing with the local business environment, the Department of Commerce and Investment’s trade officers now have the same powers as police constables and have therefore been training with the RCIPS to learn what it takes to enforce local laws before they go out into the community and start issuing fines […]
Price hike fuels CUC profits in 2015
(CNS Business): Grand Cayman’s power provider, CUC, cleared a $2 million profit last year as a result of a 3% growth in sales and a hike in the base rate last June, according to its latest financial report. In the last quarter of the year the electricity company saw a an 8% growth in sales, […]
Review of this restaurant
According to unconfirmed online searches, the members include Nicholas Dunne, a financial lawyer with offshore firm Walkers; Timothy Derrick, also a commercial lawyer with Conyers; Alan Brady, a recruitment manager at Baraud; Susan Bodden, an educational psychologist; Danielle Coleman from Hospice Cayman; Godfrey Meghoo, a retired pastor; and Alecia La Toya Folkes. It is not […]
ICTA to tackle network weaknesses
(CNS Business): The managing director of the telecoms regulator has revealed that his agency will be forming a working group to tackle weaknesses in the local telecommunications network after a lightning strike in Miami on Tuesday had a serious impact on local phones and internet. The major hardware failure that affected the MAYA-1 submarine cable […]
Cuba and US agree deal for commercial flights
(CNS): A new agreement between the United States and Cuba could see more than 100 flights a day between the two countries before the end of this year — five times the traffic currently generated by the charter flights that began when hostilities between the two governments began thawing over year ago. However, the deal could have a negative […]
ICTA to become utilities regulator
(CNS Business): The Information and Communications Technology Authority is in the process of transitioning into a new Public Utilities Commission (PUC), which will see the electricity, telecommunications, water and fuel regulators come under one umbrella. Among its goals is to provide a way for consumers to complain about their utility service providers, the authority said. […]
Telecoms industry under pressure to shape up
(CNS Business): The Information & Communications Technology Authority has announced that it will be prioritizing quality of service standards in the local telecoms sector, specifically ensuring that broadband customers get what they pay for, as well as improving access and competition for everyone living in the Cayman Islands, regardless of the district.
June deadline for Cayman EU funds passport
(CNS Business): The Cayman Islands can expect a decision on its inclusion in the EU’s AIFMD (Alternative Investment Fund Managers Directive) Passport scheme by June, which, if granted, would secure future access to European investors for funds either managed or registered in Cayman. The funds industry is keenly awaiting a resolution to this long drawn […]
Premier berates TV show at investment summit
(CNS): The controversies surrounding the recently broadcast BBC documentary about the Cayman Islands was at the heart of a speech delivered by the country’s leader at last week’s Alternative Investment Summit. With Cayman central to the success of alternative investment, Premier Alden McLaughlin said it was a shame “that there are those who wish to shut […]
Chamber fumes quietly over Rivers’ comments
(CNS Business): Stuck between a desire to rail against criticisms levelled at it by the employment minister and a wish to show its willingness to cooperate with government, the Chamber of Commerce responded with a short public statement Tuesday. “In order to keep the focus on moving forward, the Chamber will state only that it is concerned […]
Sir Richard Branson talks eco-tourism with Guy Harvey
(CNS Business): Efforts by renowned ocean conservationists, Sir Richard Branson and Guy Harvey, to stimulate eco-tourism in the Caribbean are taking off in a big way and making a difference, protecting tiger sharks and whale sharks across the region. These projects, among others, were highlighted last week in a special ‘one-on-one’ interview at the Cayman Alternative […]
Chamber and CIG make up over unemployment
(CNS Business): The Cayman Islands Chamber of Commerce and the government have agreed to work together to address the unemployment challenges facing the country. After several weeks of finger pointing between government and the Chamber over the issue of employing local workers, the newly elected Executive Committee said they had agreed to “identify ways to stimulate economic growth which […]
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