Archive for July, 2016
Cayman snubbed by ESMA over funds passport
(CNS Business): The Cayman Islands is facing yet another challenge to its financial services sector after the long anticipated decision from the European Securities and Markets Authority Tuesday not to recommend that the Alternative Investment Fund Managers Directive (AIFMD) passport to non-EU alternative investment fund managers be extended to the jurisdiction. ESMA said it “could […]
False start for mammoth Saudi fraud trial
(CNS Business): The biggest ever trial to be held in the Cayman Islands got off to a false start yesterday, with proceedings adjourned at the start of the first day due to what the chief justice Smellie called “housekeeping issues”, but with the courts blocking off the next seven months to deal with the liquidation […]
Cayman fund rivals could see post-Brexit boost
(CNS Business): As the fallout from the Brexit vote turns to the complexities of engineering the UK’s exit from Europe, there is a real possibility that fund managers might move their headquarters from the UK to remain in the EU, and with Luxembourg and Dublin seen as viable alternatives, these fund domiciles could continue to […]
Golden Spoons Review: Cayman Creperie
(CNS Foodie): Cayman Creperie is one half of the combined eatery on the second floor of Bayshore Mall, Lucky Slice Pizza being the other. It is, therefore, perfectly positioned to attract the cost-conscious cruise tourist as well as the time-conscious 9-5 denizens of George Town. As a card-carrying member of the latter group, the question […]
Cops meet with businesses to address security concerns
(CNS Business): Police Superintendent Robert Graham, who is heading up the RCIPS’ plan to put community policing back at the heart of the service, met with a number of local business leaders last week to get to grips with needs and concerns in the commercial sector and begin to build partnerships. Graham, who was recently recruited […]
Telecoms giant blocks Cayman regulator from offices
(CNS Business): An attempt by the Information and Communications Technology Authority (ICTA) to enter the main Cayman office of Cable and Wireless this week was met with a refusal, officials from the regulator have confirmed. Over the last few months the firm, which now trades under the brand name Flow, has been under the watchful […]
Street vendors get short reprieve ahead of fines
(CNS Business): Local tradespeople who have been selling souvenirs, coconuts or fruit, or renting beach chairs or snorkel kits without a trade and business licence on the streets of George Town, along Seven Mile Beach and at the West Bay dock have been given one more month to comply with the law before government starts […]
Increase in imports signals economic recovery
(CNS Business): Finance and Economic Development Minister Marco Archer has said that the near 12% increase in imported goods at the beginning of this year compared to the previous year was a sign of the economic recovery in the Cayman Islands. According to figures released by the Economics and Statistics Office (ESO), the country’s merchandise imports […]
CIMA reveals deal with Gibraltar in wake of Brexit
(CNS): The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding with the Gibraltar Financial Services Commission in the wake of the UK’s recent referendum on leaving the European Union, the results of which impacted both territories. CIMA officials said the deal would pave the way for cooperation and exchange of information regarding […]
Golden Spoons Review: George Town Yacht Club
(CNS Foodie): Before we get on to the food, it’s worth mentioning the parking: there’s lots of it, which is not a minor consideration when choosing somewhere for lunch in or near to town. The George Town Yacht Club is just ten minutes from the town centre and two minutes from the airport, easy to […]
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