Archive for October, 2017

Premier: Cayman needs to keep defending offshore

Premier: Cayman needs to keep defending offshore

| 31/10/2017 | 3 Comments
(CNS Business): The Cayman Islands will need to keep up its defense of the offshore financial services sector and maintain regular engagement with European Union leaders, in particular, the premier has said, because the recent delegation to Brussels found that politicians there remain “challen [...]

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Premier pledges major cut in SME red tape

Premier pledges major cut in SME red tape

| 30/10/2017 | 6 Comments
(CNS Business): The premier has committed to cutting the regulations that he said are hindering small businesses. Alden McLaughlin said that “ambitious, entrepreneurial Caymanians need encouragement, not the dead weight of government bureaucracy holding them back”, as he pledged to aboli [...]

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Dart’s tunnel CPA hearing deferred over paperwork

Dart’s tunnel CPA hearing deferred over paperwork

| 30/10/2017 | 0 Comments
(CNS Business): The increasingly controversial application by Dart to expand the West Bay Road tunnel was adjourned Wednesday, after the planning department filed the wrong documents to the Central Planning Authority. It is not clear when the authority will hear the application as the agenda for the [...]

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Cayman still labeled as ‘notorious tax haven’

Cayman still labeled as ‘notorious tax haven’

| 26/10/2017 | 5 Comments
(CNS) Business): Despite the efforts of Cayman Islands’ finance industry, with government and its lobbyists spending time and money trying to paint a picture of how it fits into the global economy and its high standard of regulation, another report on tax issues relating to US-based global cor [...]

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Cayman sends full tourism team to FCCA conference

Cayman sends full tourism team to FCCA conference

| 26/10/2017 | 1 Comment
(CNS Business): Government officials were joined by private sector tourism stakeholders to create a 19-man delegation at the 24th annual Florida Caribbean Cruise Association (FCCA) ​Conference in Merida, Mexico, where they delivered the message that Cayman is open for business following the impact [...]

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Butterfield acquires trust arm of Deutsche Bank

Butterfield acquires trust arm of Deutsche Bank

| 26/10/2017 | 0 Comments
(CNS Business): Butterfield has entered into an agreement to acquire Deutsche Bank’s Global Trust Solutions (GTS) business in an undisclosed deal that excludes the US operations, the bank said in a press release Wednesday. The deal is subject to regulatory approvals but once it is complete, Butter [...]

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Flow’s Cayman boss departs after 10 months

Flow’s Cayman boss departs after 10 months

| 25/10/2017 | 3 Comments
(CNS Business): The managing director of Flow’s Cayman Islands operations has resigned after just ten months on the job. Victor Salgado was appointed managing director in December last year, but according to a report in the Jamaican Gleaner, he will be replaced in the interim by the customer [...]

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People On The Move: Harneys expands funds team

People On The Move: Harneys expands funds team

| 25/10/2017 | 0 Comments
(CNS Business): Offshore law firm Harneys has two People On The Move this week, having added two experienced fund managers to its global investment funds team. Daniella Skotnicki has joined the Harneys’ Cayman Islands office as a senior associate. The firm said she is highly experienced in all asp [...]

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Offshore law firm braces for data exposure

Offshore law firm braces for data exposure

| 25/10/2017 | 14 Comments
(CNS Business): One of Cayman’s leading offshore law firms is bracing for potential exposure of its business and that of its clients in the international media after admitting that it suffered a cyber security breach last year. Some of the information has found its way to the International Co [...]

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Radio Cayman assists Turks and Caicos broadcaster

Radio Cayman assists Turks and Caicos broadcaster

| 18/10/2017 | 0 Comments
(CNS Business): Radio Cayman recently stepped in to help the Turks and Caicos Islands, after Hurricane Irma destroyed the majority of the jurisdiction’s broadcast network. Following high-level talks between the Cabinet Office and the government-owned radio station, Radio Turks and Caicos (RTC), Ra [...]

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Powerful local law firm marks 50 years in Cayman

Powerful local law firm marks 50 years in Cayman

| 18/10/2017 | 0 Comments
(CNS Business): The largest and one of the most influential offshore law firm in the Cayman Islands marked its 5oth anniversary recently with a swanky reception at the Ritz-Carlton. Maples and Calder started life in 1967 when James “Jim” MacDonald and John Maples began doing business out [...]

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Cayman Islands technocrats lobby on Capitol Hill

Cayman Islands technocrats lobby on Capitol Hill

| 18/10/2017 | 0 Comments
(CNS Business): Two officials from the Ministry of Financial Services were in Washington DC last month for face-to-face discussions with US politicians and officials on tax and financial services. Meetings were held with advisers and staff for several US senators and representatives who are at the h [...]

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Cayman’s insurance sector eyes another successful year

Cayman’s insurance sector eyes another successful year

| 18/10/2017 | 0 Comments
(CNS Business): The Insurance Managers Association of Cayman is expecting 2017 to be another successful year for the industry. So far this year, 20 Class B licences have been issued, eleven of which represent third party insurers, as well as three Class C licences, and with the final quarter, norma [...]

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DCI offers AML help to vulnerable businesses

DCI offers AML help to vulnerable businesses

| 18/10/2017 | 0 Comments
(CNS Business): Professionals in the real estate sector and dealers in precious metals and stones were offered help and support recently from the Department of Commerce and Investment in ways to combat money laundering and terrorist financing. The sectors are classified as Designated Non-Financial [...]

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Pageant Beach proposal gets initial nod from CPA

Pageant Beach proposal gets initial nod from CPA

| 17/10/2017 | 4 Comments
(CNS Business): A  proposal to build a ten-storey hotel on the Pageant Beach site in George Town has been given initial approval by the Central Planning Authority after the project was granted outline planning permission last month. Despite a number of objections from residents, largely at the neig [...]

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