Archive for June, 2016
CIMA signs deal with Abu Dhabi
(CNS Business): The Cayman Islands Monetary Authority (CIMA) has signed a deal with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), creating a framework for mutual assistance and exchange of information. CIMA said the Memorandum of Understanding (MoU) would foster standards of regulatory practice and compliance. The deal, officials said, would […]
Cayman passes new copyright law
(CNS Business): New copyright legislation comes into effect in Cayman Thursday that will provide greater legal rights to Cayman’s musicians, visual artists and others in the creative fields, and is the first step in modernising intellectual property (IP) legislation. Commerce Minister Wayne Panton said government had plans to present more bills in September to update […]
Cayman’s ‘secrecy law’ gets overhaul
(CNS Business): The controversial piece of legislation that has been considered Cayman’s ‘secrecy law’ for many years and fueled the jurisdiction’s tax haven label has been repealed and replaced to help detract unwanted and unfair criticism, Financial Services Minister Wayne Panton has said. Along with a number of other changes as well as a new […]
Golden Spoons Review: Casa 43
(CNS Foodie): Nestled in a quaint little spot behind the Copper Falls building, Casa 43 offers authentic Mexican cuisine with flares of the island intertwined. The concept is pretty simple: tiny restaurant with reasonably priced, locally sourced products and the freshest margarita you can find on Grand Cayman. Maybe it’s the lime zest that puts […]
Brexit impact is unpredictable, says tourism minister
(CNS Business): Tourism Minister Moses Kirkconnell has said it is too early to say how Britain’s exit from the European Union will impact the Cayman Islands’ tourism statistics, which after years of continuing growth are showing signs of decline due to the Zika outbreak. He said the United Kingdom and Continental Europe account for around […]
Local finance body warns of Brexit volatility
(CNS Business): Jude Scott, CEO of Cayman Finance, the industry body which represents the local financial services sector, has warned of short-term volatility in the wake of Britain’s surprising exit from the European Union, but he said he believes the local industry will weather the forthcoming economic storms. He said the financial sector would continue […]
Email scams costing businesses $billions
(CNS Business): Unsuspecting employees in Cayman are being targeted by criminals with ‘Scareware’ and sophisticated email scams, enabling them to siphon off cash from these companies without the need for complex hacking techniques. The FBI’s Internet Crime Complaints Center (ICC) has issued an alert surrounding Business Email Compromise (BEC), which it called the $3.1 Billion […]
Concerns ignored, golf course gets green light
(CNS Business): The Central Planning Authority has given the green light to the proposed development of a golf course in the Frank Sound area despite a catalogue of environmental concerns. The proposal to build an Arnold Palmer golf course was submitted to the CPA in complete isolation and not as part of the major resort […]
Cayman holds $265 billion in US Treasury bonds
(CNS Business): The Cayman Islands is now the third biggest foreign holder of US government debt, topped only by China and Japan. Holdings of US Treasury bonds in Cayman reached $265 billion in March, which was up more than 30% from the same period last year and was the first time that the Treasury data […]
Golden Spoons Review: Ristorante Prima
(CNS Foodie): It’s my first time eating at Ristorante Prima at The Royal Palms Beach Club and I’m not quite sure what to think of it. Some aspects were great — oceanfront dining, friendly staff that, for most of our meal, were attentive — and the mediocre points can easily be adjusted. Keywords there — more […]
Brexit and its impact on non-EU hedge funds
Laura O’Brien writes: The implications of a potential Brexit for non-EU hedge fund managers are hard to fathom. At present, public opinion polls appear to be neck and neck although fund managers seem confident Brexit is unlikely to occur. A survey by Aviva Investors in February 2016 found 20% of equity fund managers and not […]
Pure tobacco cigarettes, made in Cayman
(CNS Business): A young Caymanian entrepreneur has begun manufacturing and selling cigarettes locally using pure tobacco imported from Kentucky with no additives. Cordell Gutierrez (23), who grew up on Cayman Brac, began selling his cigarette packages in December last year under the brand name Blacktip. The cigarettes are produced in a small factory in Prospect, […]
DoT upbeat about Cuba’s burgeoning tourism
(CNS Business): Tourism to Cuba was boosted last week with the announcement of two major developments: there will be a resumption, after more than 50 years, of commercial flights to the island from the US before the end of the year, and a new Miami-based cruise line is planning trips from Florida to Cuba. However, […]
Golden Spoons Review: West Bay Diner
(CNS Foodie): What’s the name of that place that opened up where Tim-buc-tuu used to be? You know, the one that’s up from the 4-way stop in West Bay, on the land-side? Well, whatever it’s called, despite being across from the sea, it doesn’t have much of a view, so it better have great food.
Accounts’ regulator celebrates name change
(CNS): The Cayman Islands Institute of Professional Accountants (CIIPA) recently celebrated the official launch of CIIPA with over 70 members, government representatives and members of the financial services industry. CIIPA announced last month that it had changed its name to the Cayman Islands Institute of Professional Accountants, to more accurately reflect its role as an […]
Recent comments