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Companies get two month waiver to abide by new law

Companies get two month waiver to abide by new law

| 28/08/2015 | 0 Comments

(CNS Business): The Companies (Amendment) Law 2015 will commence on Monday 2 November and requires companies to notify the registrar of any changes to their directors and officers within 60 days of the change. It establishes a CI$500 penalty per company for a breach of that obligation, up to a CI$2,500 fine for five or […]

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LIME promotes young Caymanian to HR manager

LIME promotes young Caymanian to HR manager

| 25/08/2015 | 2 Comments

(CNS) Local telecommunications firm LIME has appointed Matthew Seales as its new human resources manager for the Cayman business. Seales has worked for LIME Cayman Islands for the last seven years, having started as a retail sales associate and worked his way up to retail sales manager, looking after several stores.  Now, officials said, he will […]

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Cayman based compliance course certifies first graduates

Cayman based compliance course certifies first graduates

| 25/08/2015 | 0 Comments

(CNS Business): Two senior compliance experts working in the Cayman Islands financial services sector have become the first graduates of a specialist course created by the International Association of Certified Compliance Specialists (IACCS), which is based in Cayman. Marco Capelli and Crystal Hennings have acquired the designation of Certified Compliance Specialist (CCS) after completing the […]

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Cash transfer firms stay open using US currency

Cash transfer firms stay open using US currency

| 25/08/2015 | 1 Comment

(CNS): Three of Cayman’s money transfer businesses have entered into new arrangements that will deal with US currency transactions only, which will enable them to continue providing cash remittance services after a number of local banks pulled out of partnerships with them. Increased concerns over the risks of these kind of financial transactions and pressure […]

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LA passes laws for financial services sector

LA passes laws for financial services sector

| 25/08/2015 | 1 Comment

(CNS Business): Several bills relating to the Cayman Islands’ offshore financial services sector were passed in the Legislative Assembly last week, when parliament members convened for the second meeting of the budget year. Minister of Financial Services Wayne Panton highlighted four bills he said were critical for the financial future and the investment firms of this country. 

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Half year figures confirm tourist sector growth

Half year figures confirm tourist sector growth

| 25/08/2015 | 0 Comments

(CNS): The number of visitors to the Cayman Islands on overnight trips and on cruise ships is still rising, according to the half-year figures recently released by the Department of Tourism. As Cayman faces the controversial decision about cruise piers in George Town, figures for cruise arrivals this year show that, despite a lack of […]

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Private sector development boom fails to materialize

Private sector development boom fails to materialize

| 20/08/2015 | 0 Comments

(CNS Business): Progress on the private sector construction projects government is depending on to boost the local economy is thin on the ground as the PPM administration passes its halfway mark. From Frank Sound to George Town, government has touted a number of proposed developments by private sector investors that it is hoping will create […]

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Ministry wraps up pensions public meetings

Ministry wraps up pensions public meetings

| 18/08/2015 | 1 Comment

(CNS Business): Community members gathered one last time on Thursday night at the George Town Town Hall to discuss the proposed changes the Ministry of Employment and the Department of Labour and Pensions have suggested in the National Pensions Law 2015. Minister of Employment Tara Rivers said the ministry set out to gain public input […]

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Cayman Airways reveals new aircraft

Cayman Airways reveals new aircraft

| 14/08/2015 | 10 Comments

(CNS Business): Cayman Airways expanded their aircraft fleet on Friday with a new turboprop plane that will exclusively service between Grand Cayman and Cayman Brac. The 34-seater Saab 340B+ aircraft will replace the 30-seat Embraer E120 service, which is currently operated under a wet-lease arrangement with InterCaribbean Airlines. 

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Fraud expert joins KRyS Global

Fraud expert joins KRyS Global

| 13/08/2015 | 0 Comments

(CNS Business): Cayman-based fraud investigation and asset recovery firm, KRyS Global, which was recently retained by the Cayman Islands Monetary Authority to help conduct forensic audits on the authority, has now hired Kevin Haywood Crouch as Global Head of Forensics and Consulting. Last week CIMA Chair Grant Stein revealed that KRyS Global would review any transactions […]

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Gas prices on the rise

Gas prices on the rise

| 13/08/2015 | 4 Comments

(CNS Business): The planning minister has questioned the basis for the increase of fuel prices and suggested that oil companies are “making hay while the sun shines”. Kurt Tibbetts continues to push for some type of public utilities commission to oversee the islands’ two major fuel distributors.  Such a body will have the power to check and order […]

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Road extension set to start November

Road extension set to start November

| 11/08/2015 | 0 Comments

(CNS Business): Two years after the Ironwood project was announced, developers said they are finally set to break ground on the $360 million commercial, tourism and residential community in Frank Sound by the end of this year. The uncertainty surrounding the future development of Cayman’s first ever PGA championship golf course has been questioned and […]

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Boards put block on CIG’s choices for CIMA directors

Boards put block on CIG’s choices for CIMA directors

| 10/08/2015 | 10 Comments

(CNS Business): Two people recently appointed by Cabinet to sit on the Cayman Islands Monetary Authority board have been prevented from taking up their seats as a result of objections from the private sector entities where they work, stopping them from accepting the voluntary posts. Of all government’s boards, CIMA, as the regulator of the […]

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Cayman to beat regional economic slowdown

Cayman to beat regional economic slowdown

| 06/08/2015 | 0 Comments

(CNS Business): The Cayman Islands is set to weather a regional economic slowdown, local officials have said, that will see the domestic economy grow by more than 2% while states across the region could see less than a half percent growth in their economies. The UN Economic Commission for Latin America and the Caribbean (ECLAC), […]

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Money transfer businesses seek new partners

Money transfer businesses seek new partners

| 06/08/2015 | 0 Comments

(CNS Business): Almost three weeks after money transfer service Western Union was forced to close all eight locations in the Cayman Islands, company officials told CNS Business they are working diligently to restore all services as soon as possible. The leader in global payment services would not give details as to whether the company had found […]

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