Cayman News
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Swiss Bank exits FATCA programme
(CNS Business): Barclays Bank’s Swiss operations is ending its cooperation with the Internal Revenue Service’s efforts to prevent investors from investing money in foreign countries with more amenable tax structures and policies. During a Zurich speech, Barclays bank executive Francesco Grosoli announced that the firm’s Swiss operations had “recently exited the programâ€, after evaluating its legal […]
Bermuda green lights casinos
(CNS Business): Amid debate and controversy, Bermuda has passed legislation to allow casino gaming on the island. After a 10-hour debate in the House of Assembly the Casino Gaming Act 2014, tabled by Tourism Minister Shawn Crockwell, was passed in the early hours of Saturday morning. This follows the Cruise Ship (Casino) Act 2013, passed in […]
Former COO at C&W takes on e-gov challenge
(CNS Business): The Cabinet office has appointed Ian Tibbetts to take on the task of dragging the Cayman Islands Government into the 21st century and help it provide many more services via the internet. A former chief operating officer with Cable and Wireless with extensive communications experience, the new director of e-government has been given the challenge of getting […]
Cayman says no to public access to ownership
(CNS Business): The Cayman government, along with other affected British territories, has refused to introduce a centralised beneficial ownership register with public access. Premier Alden McLaughlin said Monday that he and Financial Services Minister Wayne Panton, with the support of other territory leaders, stood firm last week in London when on the last day of […]
Government to clamp down on rogue business
(CNS Business): As a result of what the minister said were deficiencies in the Trade and Business Licensing Law, government has moved to tighten up the rules and create a fairer environment for local business with a new law. The new Trade and Business Licensing Bill was passed in the Legislative Assembly last month without […]
CIG anxious for Ironwood deal
(CNS Business): The Cayman Islands premier has said that he and the government are anxious to get a deal to facilitate the proposed Ironwood development in Frank Sound. But despite holding a press conference this week with the designers, developers, financiers, engineers and top professional golfer Arnold Palmer, it was revealed that government has still […]
CUC confirms partners for new power plant
(CNS Business): Caribbean Utilities Company has announced that it has entered into a design-build contract agreement with both a Danish company and a German company to develop its new power plant in George Town. The deal is in relation to the contract CUC won, following an ERA bid, to supply extra future power for Grand […]
CWC to consult with customers over merger
(CNS Business): Following an overwhelming vote from shareholders last week in favour of the proposed merger of Cable & Wireless Communications with Columbus, CWC said it launched a series of special “Customer Panels†in the Caribbean Monday “to spark a constructive discussion about the proposed merger.†The parent company of LIME said the panels will […]
UCCI students gain experience at CIAA
(CNS Business): Students from the University College of the Cayman Islands’ (UCCI) School of Hospitality Studies are gaining hands on experience at the Cayman Islands Airports Authority (CIAA), which is part of a partnership between UCCI and local businesses to give students a chance to learn more about the hospitality and customer service industry. Over […]
Cayman lawyers make IFC Power Women Top 200
(CNS Business): Two of Walkers’ Cayman Islands attorneys have been recognised by UK wealth management publication Citywealth in its 2014 IFC Power Women Top 200. Global managing partner Ingrid Pierce and senior counsel Monique Bhullar were both named in this exclusive list, which celebrates powerful women of achievement. It highlights women who are opinion formers, […]
Butterfield ‘Bank of the Year’ in Bermuda and Cayman
(CNS Business):  International banking industry publication, The Banker, has named The Bank of N.T. Butterfield & Son Limited and Butterfield Bank (Cayman) Limited the recipients of its Bank of the Year 2014 Awards in Bermuda and the Cayman Islands. This is the second consecutive year that Butterfield has been named “Bank of the Year†in […]
Cybersecurity future focus for fund managers
(CNS Business): Cloud computing and cybersecurity have become major concerns across the hedge fund industry for regulators as well as investors, according to EY’s 2014 global hedge fund and investor survey: Shifting strategies: winning investor assets in a competitive landscape. Of all managers surveyed, 85% said that security concerns are the main impediment in using […]
New safety guidelines for telecoms industry
(CNS Business): The Information Communications Technology Authority (ICTA) has published guidelines for telecommunications workers working on electricity poles in the Cayman Islands to ensure that proper safety standards are being adhered to at all times. According to the ICTA, the guidelines, which highlight safety measures for both electricity workers and the general public, include the […]
CUC raises $50m to fund new diesel plant
(CNS Business): Grand Cayman’s power supplier has raised $50 million in the US markets from an unsecured private debt placement. Caribbean Utilities Company (CUC) raised the cash from different institutional investors to finance the development of a 39.7 MW diesel power plant and other capital expenditures. CUC was recently awarded the contract to supply itself […]
Regional watchdog worried over telecom takeover
(CNS Business): The regulatory authority for the Eastern Caribbean region has said that a preliminary review of the takeover of Columbus International by Cable & Wireless Communications (CWC) raises competition concerns. The Eastern Caribbean Telecommunications Authority (ECTEL) said the deal could have a potentially negative impact on competition with a reduction in the choice of […]
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