Cayman News
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Tech city to be built in Fairbanks area
(CNS Business): Well over four years after promising a campus to transform Cayman into a technological centre of excellence, the current management team of Cayman Enterprise City has settled on a site in the Fairbanks area of George Town for the tech zone’s actual campus. Since government passed a special law for the proposed project […]
CAL begins Brac-Cuba flights
(CNS Business): Cayman Airways Limited (CAL) has launched the first international flight to and from Holguin, Cuba, and expanded its Miami service to Cayman Brac. The flight to the eastern end of the island nation is designed to complement the airline’s existing flights between Havana and Grand Cayman, and the airline expects some Havana passengers, many […]
Central public register may be inevitable
(CNS Business): If public central registers become the global standard for access to beneficial ownership of commercial and financial entities then Cayman will inevitably have one as well, but the Cayman Islands will not go out on a limb and be the first, Financial Services Minister Wayne Panton has said. Cayman is now examining a […]
UK enforcement agencies to visit Cayman
(CNS): The UK is expected to send law enforcement officials to Cayman in the New Year to enhance the current cooperation regime between this jurisdiction and the authorities in Britain regarding financial crime and money laundering. Financial Services Minister Wayne Panton said that experts are coming at Cayman’s invitation to “improve on the collaboration” on global financial […]
Cayman also plagued by growing global inequities
(CNS Business): Despite global economic growth, inequality is worsening and the Cayman Islands is just as susceptible to the growing inequities in the world as the main onshore jurisdictions, according to Fidelity Group Chair Anwer Sunderji. “As the world’s rich get richer, the middle class is struggling; the top 1% of the population receives a quarter […]
Cash transfer firm blames local banks for business woes
(CNS Business): The chair of a Cayman-based Jamaican cash transfer company has made it clear that he believes the banks are to blame for the problems his firm and its affiliates are facing, as he encouraged customers of those banks who also use remittance services to raise their concerns and even implied they should boycott […]
Futuristic design for Cayman resort unveiled in Miami
(CNS Business): The design for the proposed resort in the Beach Bay area of Bodden Town was unveiled at an art gallery in Miami recently when developers announced the winning architects for the US$250 million hotel they are building at St James Point. Beach Bay Land Limited (BBLL) said TEN Arquitectos won the competition, beating […]
Captive industry still awaits CIMA figurehead
(CNS Business): As CIMA updated delegates at the Cayman Captive Forum on its licensing activity and regulatory developments, it was unable to provide the update that many international clients have been waiting for, which is a new head of insurance supervision. Morag Nicol has been acting head of insurance since April 2014 in what was […]
Mac’s lawyers merge with BVI firm
(CNS): Cayman Islands-based law firm, Travers Thorp Alberga, which successfully represented the opposition leader in his corruption trial and which is currently dealing with his civil suit against government and defending him in a writ filed by the premier, has merged with the British Virgin Islands-based Orion Law, owned by two BVI politicians.
Hotel lease extension nets $13.4M for public purse
(CNS Business): Government is expecting to collect $13.4 million from the owners of the Westin Grand Cayman Seven Mile Beach Resort & Spa after talks regarding the extension of the hotel’s lease for the crown land it stands on were completed. Planning Minister Kurt Tibbetts told the Legislative Assembly that the report on the lease […]
New T&B law focus of Brac business expo
(CNS): Government officials will be taking the opportunity to make sure the business community on Cayman Brac is prepared for the implementation of the new Trade and Business Law at a forthcoming business expo. Staff from the Department of Commerce and Investment will be at the expo, which is being organised by Hurley’s Media on […]
CAL starts using new boarding ramps
(CNS): Passengers on Cayman Airways have begun using the airline’s new ramps to get on and off the planes. Officials said the new ramps improve safety and comfort, particularly for people with disabilities including those in wheelchairs. The airline said they are a significant step forward for passenger convenience, with an inclined walkway replacing the conventional […]
Port seeks bidders for Spotts dock spruce up
(CNS Business): The Port Authority of the Cayman Islands has issued a request for proposals for bids on the upgrade at Spotts Dock, the area where cruise ships traditionally anchor when weather conditions prevent them from coming into the George Town Harbour. A release on the port’s website asks for suitably qualified contractors to work […]
Robertson takes top job at Maples
(CNS Business): Following bi-annual elections at the offshore law firm and financial services company, the Maples Group, for its management team, Alasdair Robertson is the new Global Managing Partner but will continue to serve as MaplesFS Chairman as well. After six years as head of the international firm, Henry Smith stepped down on 30 November, […]
Secrecy in BOTs fuelling corruption, says report
(CNS Business): A new report released by a coalition of NGOs, including Transparency International UK, has described some of the British overseas territories (BOTs) as “some of the most notorious purveyors of financial secrecy”, despite promises about more transparency. The authors say a World Bank study found that BOTs are the most popular jurisdictions for the corrupt to incorporate a […]
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