Archive for September, 2016
Lund returns to desk on road to recovery
(CNS Business): Well-known local real estate agent Kim Lund recently returned to Grand Cayman and is back in the thick of buying and selling local property. The owner and broker at ReMax fell from the roof of his house in August and sustained a serious spine injury but has now begun the road to recovery. […]
Golden Spoons Review: My Bar
(CNS Foodie): Located on the water, just several miles south of George Town, Sunset House “Grand Cayman’s Hotel for Divers, By Divers”, is a popular attraction for the diving community, locals as well as tourists, for the past 50 years. Aside from the lodging and diving, the Seaharvest Restaurant (inside & air conditioned dining) and […]
Foreign investors must prove effort to find local partners
(CNS): As the Department of Commerce and Investment steps up the enforcement of the Local Companies (Control) Licence Law, it has said that foreign investors who are placing newspaper advertisements seeking Caymanian participation in potential business ventures must direct people to the Trade and Business Licensing Board because the law requires the board to consider […]
Work steps up on airport expansion
(CNS Business): Officials at Owen Roberts International Airport’s (ORIA) are warning passengers that work is stepping up at the facility on the renovation and expansion project. This means that travellers will see construction at both ends of the existing terminal over the next few weeks that will impact the normal flow of foot traffic around […]
Cayman captives boosted by non-traditional risk
(CNS Business): So far, 2016 has been a very active year for new captive insurance formations, with 23 new licences granted over the first six months of the year, according to the Cayman Islands Monetary Authority. This number exceeded the issuance of licences in the whole of 2015. “Historically, November and December are the busiest […]
Minister: Investment will be agriculture conference focus
(CNS Business): Agriculture Minister Kurt Tibbetts has said that “the challenge of attracting capital investment has long been recognised as a major constraint for the development of agriculture in the Caribbean”. As the host of the 14th Annual Caribbean Week of Agriculture next month (CWA), which the minister said placed agriculture and rural life on the […]
Minister presents revamped lawyers law
(CNS Business): After almost fifteen years and half a dozen attempts to pass the legislation, Financial Services Minister Wayne Panton has come up with a legal practitioners bill that has the support of the legal profession in Cayman and provides for the development and protection of local attorneys. Calling it an “immense improvement”, Panton said […]
CIMA appoints temporary banking boss
(CNS Business): Still plagued by staff shortages, including holes in its management team, the Cayman Islands Monetary Authority has appointed Gloria Glidden as the acting head of itsbanking supervision division. Glidden will take up the job on 1 October following the resignation of the current boss, Charles Ilako, who leaves at the end of this […]
Ministry brings key bills ahead of task force review
(CNS Business): The financial services minister will be presenting another four bills at the forthcoming meeting of the Legislative Assembly in order to ensure Cayman successfully clears next year’s Caribbean Financial Action Task Force’s (CFATF) mutual evaluation process and improve the financial sector’s regulatory framework. The four pieces of legislation are intended to maintain Cayman’s adherence to […]
Golden Spoons Review: Tiki Beach
(CNS Foodie): Oh, Tiki Beach … what happened to the once pristine, luxurious space? An enormous piece of prime real estate on 7 Mile Beach, we thought, why not go back and see what’s going on there on a beautiful day with no cruise ships in town. Well, if we had crickets on the beaches […]
CAL climbs out of fiscal hole
(CNS Business): The chair of Cayman Airways Ltd told the Public Accounts Committee Thursday that he expects the airline to have cleared its bank loan debts within three years because a number of factors have combined to help it climb out of the “hole it was in” a few years ago. Talking about the turnaround in fortunes of the airline, Philip Rankin said they were “seeing the fruits of our labour now”, as he pointed to the falling debt, as well as cuts in expenses and operating losses. Rankin said the debt was now around US$19 million and bank loans would be cleared in less than three years.
CAL’s US$21M subsidy keeps airline flying
(CNS Business): The latest audit of the national flag carrier has reinforced the fact that while Cayman Airways Ltd is turning its financial losses around, it is still very heavily dependent on a government subsidy of around US$21 million per year and would not be a viable entity without it. But the management team has […]
Caymanian med students get chance to work under Shetty
(CNS Business): Health City Cayman Islands in East End is planning to send four Caymanian college students on pre-med programmes to India next year to work for a month with Dr Devi Shetty, who spearheaded Cayman’s specialist hospital, at one of his Narayana hospitals. Richard Parchment, the manager for HCCI’s Healthcare Explorers Programme, told CNS […]
Trade talks with Honduras ‘sincere’
(CNS): Increasing flights between Cayman and Honduras, organising direct imports from the Central American country and an undersea telecommunications cable were key issues on the talks agenda when President Juan Orlando Hernandez and his delegation met with Cayman Islands officials here last week. Premier Alden McLaughlin said the bilateral talks which started in Honduras last […]
Local women encouraged to pursue maritime study
(CNS Business): Premier Alden McLaughlin has said he hopes to see more young women in the Cayman Islands make use of education-based government funding to consider maritime careers. Speaking at the inaugural Women in Maritime Association Caribbean (WiMAC) conference this week, he said, “This year government appropriated $152 million, or about US$190 million, for education purposes, […]
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