Cayman News
Cayman News's Latest Posts
Cayman Airways reveals new aircraft
(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.
Fraud expert joins KRyS Global
(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 […]
Gas prices on the rise
(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 […]
Road extension set to start November
(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 […]
Boards put block on CIG’s choices for CIMA directors
(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 […]
Cayman to beat regional economic slowdown
(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), […]
Money transfer businesses seek new partners
(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 […]
Greenlight Re has 2nd quarter loss
(CNS Business): Greenlight Capital Re experienced its second straight quarterly loss for 2015 due to faltered investments, company leaders stated. The Cayman Islands based company announced its financial results this week, with a net loss of $39.6 million, compared to a net income of $109.6 million for the same period in 2014. An underwriting loss […]
ICTA decides against Local Loop Unbundling
(CNS Business): Cayman’s telecoms regulator, the Information and Communications Technology Authority (ICTA), has denied Digicel’s request for access to LIME’s fibre and copper network. Following a three-year debate, the ICTA has determined that the telecoms group does not have to allow access for infrastructure sharing services that Digicel had requested in 2012.
Cayman prepares for AIFMD passport
(CNS Business): Cayman Islands financial and government leaders said they remain committed to working with the European Securities and Markets Authority as the island, along with other major jurisdiction, face uncertainty over whether they will be granted the EU’s Alternative Investment Fund Managers Directive (AIFMD) passport, allowing the sale of funds in European countries. ESMA […]
C&W first quarter shows growth across region
(CNS Business): Cable & Wireless Communications announced revenue is up and trading in line with outlook and Columbus integration was progressing well, according to their recently released interim results. The data gives a detailed analysis on the first quarter performance and financial position since the year ended 31 March. The update revealed revenues of US$583 […]
Brac air arrivals jump 20%
(CNS Business): Tourism Minister Moses Kirkconnell cites upgrades to the airport on Cayman Brac as a key factor in a 20% increase of tourists to the island in the first half of this year compared to 2014, as well as the introduction of a 30-seater jet aircraft by Cayman Airways. And he said the increase in tourism is good news for […]
CUC claims 99.95% reliability in latest results
(CNS Business): Grand Cayman’s monopoly provider claimed that it had a near perfect rate of keeping the island connected in the second quarter of this year. Despite a blackout across George Town in April that lasted more than four hours, Caribbean Utilities Company (CUC) said that customers on average experienced less than one outage lasting under an […]
Builders Bill heading for the LA
(CNS Business): The long debated Builders Bill, which would create more accountability in Cayman’s construction industry and protect those who hire contractors, will make its way to the Legislative Assembly when parliamentary meetings continue next month. The bill, which is on government’s agenda for 12 August, is an update to the law passed in May […]
Offshore lawyer to head regulatory board
(CNS Business): The former managing partner at Walkers, Grant Stein is the new chair of the Cayman Islands Monetary Authority. Stein replaces George McCarthy, the former chief secretary, at the regulator, which oversees the islands’ offshore sector. Financial Services Minister Wayne Panton confirmed Tuesday that Stein and several other new faces were appointed because existing members […]
Recent comments