Recent Articles

Regulator approves growth in CORE power

Regulator approves growth in CORE power

| 01/04/2015 | 1 Comment

(CNS Business): The Electricity Regulatory Authority has approved an extension in the capacity of the consumer-owned renewable energy generation programme, known as CORE by 1MW and extended the contracts to 25 years. The ERA and Caribbean Utilities Company said the growth of the programme, which allows CUC customers to feed renewable energy from private solar panels […]

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Brokers break away from CIREBA

Brokers break away from CIREBA

| 30/03/2015 | 3 Comments

(CNS Business): The majority of realtors in Cayman are members of the not-for-profit industry organisation, the Cayman Islands Real Estate Brokers Association (CIREBA). However, many real estate company owners are speaking out and telling CNS Business it’s time break away from the organisation’s “stranglehold” and make a change. 

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UK demands ownership registry

UK demands ownership registry

| 30/03/2015 | 1 Comment

(CNS Business): UK leaders have been battling with British overseas territories and crown dependencies to “open their books” and comply with the demands to create a beneficial ownership registry, which would affect around 2.5 million companies. Now, offshore financial centres, including the Cayman Islands, are being told to end their fight against beneficial ownership and reveal the […]

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Local real estate agents face $5.6M lawsuit

Local real estate agents face $5.6M lawsuit

| 30/03/2015 | 10 Comments

(CNS Business): Re/Max Cayman Islands, as well as agents Kim Lund, James Bovell, Oliver De Hart and prospective developer, Michael Beggs, are all facing a multi-million dollar lawsuit in the US over commission taken on condo sales in a proposed East End development that never happened. The men are accused of conning people into paying […]

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Calling all marketing professionals

Calling all marketing professionals

| 01/04/2015 | 1 Comment

(CNS Business): Cayman Island’s Marketing Professional Association (CIMPA) is looking for local marketing experts who have excellent marketing techniques and present outstanding qualities to be recognized for their 2015 Marketing Awards. CIMPA officials said the launch of their new annual awards programme is set to identify exceptional marketing practices in Cayman and highlight individuals on their […]

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Cayman’s newest airline delays launch

Cayman’s newest airline delays launch

| 01/04/2015 | 1 Comment

(CNS Business): The take-off of a newly launched airline, with plans to create around 100 jobs in Grand Cayman, has been delayed. The Cayman-based airline, called BlueSky Airlines, said it’s battling turbulent times after the company they were receiving their aircrafts from shut down. The airline aims to offer flights from Grand Cayman to destinations […]

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ESO’s annual surveys start Monday

ESO’s annual surveys start Monday

| 27/03/2015 | 0 Comments

(CNS Business): Starting on Monday 30 March, the Economics and Statistics Office (ESO) will conduct multiple surveys to measure the economic performance in the Cayman Islands. The annual surveys apply to all who produce goods and services in the area.

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SEC reduces injunction on Caledonian’s US assets to $7M

SEC reduces injunction on Caledonian’s US assets to $7M

| 27/03/2015 | 17 Comments

(CNS Business): The US Securities and Exchange Commission reduced the freeze on the beleaguered Caledonian Bank’s assets this week from $76 million to just $7 million, the creditors have revealed. The bank was brought to its knees when the SEC filed suit against it and its bosses over an alleged $75m penny stock scam and […]

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Dart boss shares UK platform with premier

Dart boss shares UK platform with premier

| 26/03/2015 | 9 Comments

(CNS Business): Cayman’s leader, Premier Alden McLaughlin, was joined by the COO of Dart Enterprises at the House of Lords this week in promoting Cayman when he delivered a key-note address at the Caribbean Council reception. As McLaughlin sold the crowd on the benefits of investing in Cayman and the future projects government has planned, he […]

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Cayman updating copyright law

Cayman updating copyright law

| 25/03/2015 | 0 Comments

(CNS Business): Minister of Commerce Wayne Panton announced the Cayman Islands would soon be falling under the UK’s umbrella regarding copyright laws. The minister explained the aim is to offer stronger intellectual property protection that is in line with Britain.

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Cayman Finance slams article

Cayman Finance slams article

| 25/03/2015 | 0 Comments

(CNS Business): Cayman Finance CEO Jude Scott is firing back against a recent article about the US Department of State Report, listing the Cayman Islands as a “country of primary concern” for money laundering and financial crimes. Scott stated ComplianceAid, an AML/CFT consulting firm, took the report out of context for opportunistic reasons, in an […]

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Liquidators call first creditors’ meeting for Caledonian

Liquidators call first creditors’ meeting for Caledonian

| 24/03/2015 | 0 Comments

(CNS Business): Creditors for Caledonian bank are scheduled to have their first meeting with the liquidators next month as they begin the process of finding out who the bank owes and how much. One of Cayman’s oldest offshore banks, Caledonian and Caledonian Securities were brought to their knees last month when the Securities and Exchange Commission (SEC) […]

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Boss fined $8,500 for not insuring workers

Boss fined $8,500 for not insuring workers

| 23/03/2015 | 4 Comments

(CNS Business): A local employer has been fined $8,500 for failing to pay the necessary health insurance for a worker. Caytech Electronics and its owner, Marcelo Franca, admitted the infraction and pleaded guilty to not insuring the staff member and his family for almost two years. On 10 March Magistrate Angelyn Hernandez imposed the fine, […]

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George Town bars battle over hours

George Town bars battle over hours

| 23/03/2015 | 0 Comments

(CNS Business): An application by the owner of the Roof Top Lounge on Mary Street to change the licence from a bar to a nightclub faced objections from other bar owners in the capital and allegations were flying back and forth at the liquor licensing board meeting Friday. Donna Myrie, who owns the cocktail-style bar, […]

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Local auto museum selling off dozens of cars

Local auto museum selling off dozens of cars

| 24/03/2015 | 2 Comments

(CNS): Around 45 cars from the Cayman Motor Museum are going under the hammer in Florida this weekend, according to organizers of the 13th annual Fort Lauderdale car auction. The museum opened in 2010 but it has been closed for several weeks. According to the museum’s website, the facility is undergoing renovations and will re-open […]

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