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Digicel to cut one in four jobs in restructure

Digicel to cut one in four jobs in restructure

| 23/02/2017 | 5 Comments

(CNS Business): Digicel is a planning to cut a quarter of its workforce over the next 18 months, the firm said in a statement on its website. The company claims it is reorganising to be “fit for purpose for 2030 and beyond” and this means a 25% reduction of the global workforce over the next [...]

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LA to tackle a dozen offshore laws

LA to tackle a dozen offshore laws

| 22/02/2017 | 1 Comment

(CNS Business): The financial services minister will be dominating the legislative agenda when the Legislative Assembly opens Wednesday morning with almost a dozen offshore laws set to be debated by legislators ahead of evaluation by the Caribbean Financial Action Task Force (CFATF) later this y [...]

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Fuel costs fall as earnings rise for CUC

Fuel costs fall as earnings rise for CUC

| 21/02/2017 | 8 Comments

(CNS Business): Grand Cayman’s monopoly power provider enjoyed an increase in net earnings of some $2.4 million last year but CUC said the average cost of bills still fell by almost 32% by the year-end compared to consumer bills at the end of 2014. The power provider said that the combination o [...]

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Clerks back proposed lawyers law

Clerks back proposed lawyers law

| 21/02/2017 | 32 Comments

(CNS Business): A group of article clerks, law school graduates and students have offered their support in writing to the Legal Practitioners Bill. The letter sent to all 18 members of the Legislative Assembly from the trainee lawyers said they were the ones who stand to be “most affected” by [...]

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Scott serves up CI financial sector at NY breakfast

Scott serves up CI financial sector at NY breakfast

| 14/02/2017 | 0 Comments

(CNS): Cayman Finance CEO Jude Scott served up a detailed helping of the Cayman Islands financial services sector at a New York breakfast earlier this month to over 150 people. Scott told the New York financiers that Cayman was a well regulated jurisdiction that was important to the global econo [...]

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Regulator seeks to gain trust with consistency

Regulator seeks to gain trust with consistency

| 14/02/2017 | 7 Comments

(CNS Business): The newly appointed boss of the government’s newest regulator says there are several challenges ahead for the new office but one of the most important is gaining the trust of the stakeholders across the utilities that he and the team will be regulating. Consistency, transparenc [...]

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Hurley’s files court action over ‘Ivanized’ store

Hurley’s files court action over ‘Ivanized’ store

| 14/02/2017 | 9 Comments

(CNS Business): More than a dozen years after Hurricane Ivan struck Grand Cayman, one local supermarket is still in dispute with neighbouring property owners over a store it owns in George Town. The former Hurley’s Supermarket at the Eden Centre on Walkers Road remains at the centre of a dispu [...]

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Panton challenges constant regulatory change

Panton challenges constant regulatory change

| 14/02/2017 | 1 Comment

(CNS Business): Financial Services Minister Wayne Panton has pointed to the constant changes and jumping around in the global regulatory environment as a major flaw that prevents solutions being able to show their worth before they are [...]

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New silks include criminal defence veteran

New silks include criminal defence veteran

| 08/02/2017 | 6 Comments

(CNS Business): The governor has announced six new Queen’s Counsels from Cayman’s legal profession, and for the first time, one of those new QCs, also known as ‘silks’, comes from the list of local criminal defence lawyers. With government attorneys and corporate offshore lawyers [...]

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Panton navigates choppy ‘blacklist’ waters

Panton navigates choppy ‘blacklist’ waters

| 08/02/2017 | 7 Comments

(CNS Business): The Cayman Islands financial services minister has been doing the rounds in Brussels and London over the last week to persuade European officials that Cayman should not be on any grey or blacklists and to talk about the continued pressure from the UK for Cayman and the other ter [...]

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TV regulator rejects blame over commercial failings

TV regulator rejects blame over commercial failings

| 03/02/2017 | 4 Comments

(CNS Business): Following the news that Cayman 27 is dropping its costly ‘Daybreak’ local morning magazine TV show, the TV arm of the new regulator OfReg has stated that this issue is entirely commercial and not a regulatory matter. “The failure of cable providers to come to an agreement wi [...]

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Premier heads to London for Brexit talks

Premier heads to London for Brexit talks

| 02/02/2017 | 7 Comments

(CNS Business): The premier will be heading to London Friday with a small government team for the special meeting with UK officials and the heads of other overseas territories on the thorny issue of Brexit and how it will impact Cayman and the other British dependent territories. The Joint Minist [...]

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CAL flying twice weekly to Roatan

CAL flying twice weekly to Roatan

| 24/01/2017 | 5 Comments

(CNS Business): Cayman Airways Limited (CAL) has announced the start of a new twice-weekly service between Grand Cayman and Roatan (RTB) in March. The new Boeing 737 nonstop flights will be in addition to the existing year-round flights to La Ceiba. CAL’s board chair, Phillip Rankin CPA, sa [...]

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Minister optimistic over OECD assessment

Minister optimistic over OECD assessment

| 24/01/2017 | 2 Comments

(CNS Business): Financial Services Minister Wayne Panton says he is optimistic that the report on the local financial service sector’s compliance with international standards will be a good one. A team of assessors from the OECD Global Forum on Transparency and Exchange of Information for [...]

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Fidelity drops debate from conference

Fidelity drops debate from conference

| 24/01/2017 | 2 Comments

(CNS Business): Although this is an election year in Cayman, the annual economic conference organised by Fidelity Bank will not include a panel debate or a head-to-head with politicians. The Cayman Economic Outlook conference will, as usual, include an address from the premier but there will be n [...]

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