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Minister aims for business compliance

Minister aims for business compliance

| 19/01/2017 | 0 Comments

(CNS Business): Starting this month, the Department of Commerce and Investment will be clamping down on rogue businesses who have not paid for their trade and business licences or who are not compliant with the other laws. Commerce Minister Wayne Panton said he wants to see a level playing field [...]

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CUC to close George Town HQ payment centre

CUC to close George Town HQ payment centre

| 19/01/2017 | 0 Comments

(CNS Business): Customers of CUC will no longer be able to pay their bills at the CUC head office in North Sound Road or its office at the Caribbean Plaza. In a circular sent out this week, the firm said it was changing the way it does business to focus on “delivering enhanced services in the a [...]

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Glidden confirmed as CIMA’s banking boss

Glidden confirmed as CIMA’s banking boss

| 19/01/2017 | 0 Comments

(CNS Business): The acting head of the Banking Supervision Division at the Cayman Islands Monetary Authority has been confirmed in the post. On 1 January Gloria Glidden was given the official title for a job she has be doing since last year. Officials said she would continue to provide supervisi [...]

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Margaritaville Resort to open February

Margaritaville Resort to open February

| 19/01/2017 | 2 Comments

(CNS Business): The new Margaritaville Beach Resort on the West Bay Road is almost ready to open, officials have revealed. The newly renovated hotel on the site of the old Treasure Island has begun taking reservations, ready to welcome guests at the beginning of next month in the first phase of [...]

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Trump’s Treasury pick failed to disclose Cayman funds

Trump’s Treasury pick failed to disclose Cayman funds

| 19/01/2017 | 0 Comments

(CNS Business): US President-elect Donald Trump’s pick to be treasury secretary, the controversial former Goldman Sachs banker, Steven Mnuchin, failed to disclose nearly $100 million of his assets to the Senate Finance Committee, the US press is reporting. Mnuchin, known to most Americans as t [...]

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China to ‘favour’ Cayman registered ships

China to ‘favour’ Cayman registered ships

| 13/01/2017 | 0 Comments

(CNS Business): The United Kingdon and Chinese governments have signed a deal on behalf of the Cayman Islands that officials said will boost the competitiveness of the Cayman Islands Shipping Registry. Liu Xiaoming, the Chinese Ambassador to the UK, arrived in Cayman yesterday for a brief visit [...]

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2016 cruise figures fall short on previous year

2016 cruise figures fall short on previous year

| 12/01/2017 | 2 Comments

(CNS) Although 577 ships called at the George Town port during the last twelve months, the annual passenger figure has fallen short on the numbers recorded in 2015 by 4,959, according to statistics on the port authority website. In 2015, 575 ships brought 1,716,812 while an extra two vessels bro [...]

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High hopes that lawyers bill will pass

High hopes that lawyers bill will pass

| 12/01/2017 | 1 Comment

(CNS Business): At the opening of the Grand Court Wednesday, Attorney General Samuel Bulgin and the leaders of the two legal professional bodies were all in agreement that the latest draft of the Legal Practitioners Bill was a compromise that most of the profession could support. The attorneys a [...]

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Tourism challenges slow growth in sector

Tourism challenges slow growth in sector

| 21/12/2016 | 1 Comment

(CNS): The spread of Zika virus in the region, the weakening of the British pound, terrorism attacks in Europe curtailing travellers and constraints on Cayman’s own room stock were just some of the challenges the tourism sector faced in 2016, but tourist arrivals still grew by around 2.5% nonet [...]

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Flow confirms acting MD in local top job

Flow confirms acting MD in local top job

| 20/12/2016 | 2 Comments

(CNS): Victor Salgado, who has been acting as the boss for Flow’s Cayman operations since May, has been formerly appointed as the local managing director for the firm. Salgado joined Cable & Wireless in 2013 but the firm said that he has more than twenty years of leadership experience in t [...]

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$630 million BOP deficit offset by services surplus

$630 million BOP deficit offset by services surplus

| 20/12/2016 | 1 Comment

(CNS Business): Cayman’s $629.6 million current account deficit in its balance of payments for 2015 was partially offset by the surplus from trade in services amounting to $757.6 million, according to the Economics and Statistics Office. The Balance of Payments (BOP) and International Investme [...]

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Business urged to watch their cash this Christmas

Business urged to watch their cash this Christmas

| 19/12/2016 | 0 Comments

(CNS): Police are reminding local businesses owners to be careful when managing their cash this holiday season. With crime on the up and commercial operations handling more cash than usual, owners are being urged to pay attention. The RCIPS said business owners and the general community should ex [...]

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Jamaican boss to lead Caribbean C&W ops in New Year

Jamaican boss to lead Caribbean C&W ops in New Year

| 19/12/2016 | 0 Comments

(CNS Business): Regional telecommunications conglomerate Cable & Wireless has appointed its Jamaican chief, Garfield “Garry” Sinclair, as president of the Caribbean, covering 15 territories across the region, including Jamaica, Trinidad, Barbados and the Cayman Islands. He will b [...]

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Laws drafted to pave way for beneficial ownership access

Laws drafted to pave way for beneficial ownership access

| 19/12/2016 | 4 Comments

(CNS Business): Three new pieces of legislation are expected to be gazetted this week, paving the way for the Cayman Islands to create a platform whereby relevant authorities in other countries can access information on beneficial owners of companies and other financial entities registered here. [...]

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Hedge fund managers under pressure to adapt

Hedge fund managers under pressure to adapt

| 19/12/2016 | 0 Comments

(CNS Business): A survey by consultants Ernst & Young of global hedge fund managers warns that only those who adapt to the needs of investors will see real growth in future. The 10th annual survey found that hedge fund growth has slowed for a variety of reasons, from lacklustre performance to [...]

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