Archive for December, 2017
Stay-over visitor numbers break more records
(CNS Business): Almost 35,000 people visited the Cayman Islands in November, according to the latest statistics from the Department of Tourism, breaking more records for the stay-over tourism sector. Last month was the best November on record and was the sixth consecutive month where air arrivals into Cayman exceeded existing statistics. A total of 34,999 visitors flew […]
CUC demand rates change for big customers
(CNS Business): More than 100 of CUC’s largest customers who are both generating their own power and using power supplied by CUC will face a new rate system in 2018. New Demand Rates for large commercial customers and those with Distributed Energy Resources will allow the customers’ billing to be itemized into fixed and variable costs under the new […]
CIMA report reveals banking sector under pressure
(CNS Business): A report assessing the health of the Cayman Islands banking sector in 2016 has revealed that the sector remains “vulnerable to global macroeconomic environments, as well as political uncertainty and regulatory policy changes from advanced and emerging countries”. The 2016 Banking Statistical Digest also revealed that while local GDP and government finances improved in 2016, […]
Offshore law firm goes after press in Paradise Papers hack
(CNS Business): The law firm which was the victim of a hack in which millions of documents about their clients’ offshore financial affairs were exposed is taking legal action against the BBC and the Guardian. Both media organisations have stated that they will defend the breach of confidence proceedings instigated by Appleby, which has also […]
7-bed house on 7MB sells for record price tag
(CNS Business): A single family home on Seven Mile Beach was sold last week for a record-breaking US$12.5 million, the highest sale price for a stand-alone family house in the Cayman Islands. Kim Lund from RE/MAX, who sold the Coconut Walk Estate, said it eclipsed the last record price for a home sale by over US$4.5 million. […]
Captive market claims boost to local economy
(CNS): The Insurance Managers Association of Cayman claims that the captive market generated US$100 million for the local economy in 2016, based on recently published results from an economic impact survey. An IMAC survey found that the captive industry generated US$72 million in revenue for Cayman’s service providers, and currently provides employment for around 300, nearly half of whom […]
Golden Spoons Review: Agua
(CNS Foodie): My partner and I arrived for brunch at Agua just after the 11:30am opening, already starving and anxious to get started on the meal. After a little wait to get seated we were ushered to our booked table, which we were sharing with some friends. A waiter arrived and explained the menu to […]
Golden Spoons Review: Café Amazon
(CNS Foodie): I will admit to having a soft spot for Café Amazon since it seems to be one of the few businesses on this island trying to make a difference by embracing the idea of a zero carbon footprint. They also say they source their ingredients locally and use organic coffees and teas. So […]
Cayman appears on mega ship’s 2019 itinerary
(CNS): MSC Cruises has announced that its mega ship, Meraviglia, a 5,700-passenger ‘smart’ ship that was launched this summer, will include the Cayman Islands on its itinerary during the 2019 autumn season, even though there will be no piers in George Town when the ship makes is debut in the Caribbean. According to a press […]
Concessions renewed for builders and developers
(CNS Business): The government will be continuing the flat 15% import duty rate on building materials imported to Grand Cayman for another year, officials have confirmed. The duty cut has been running for several years and Finance Minister Roy McTaggart claimed the concession was working and helping to boost the economy. “The government is committed […]
Golden Spoons Review: Ave
(CNS Foodie): When you’re preparing to go out for dinner, there’s this surging excitement, almost childlike anticipation, of the possibilities of the epicurean night ahead. For me, it’s the prospect of sampling someone’s culinary creativity, a chance to take pointers from experts in a field in which I’ve dabbled, albeit as a domestic thrill, never […]
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