Cayman News
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Frustrations mount over GT waterfront project
(CNS Business): Following confirmation last week that the Central Planning Authority had conceded that planning permission had been granted in error for a waterfront development in George Town, the neighbouring landowner who had appealed the CPA’s decision to grant permission has raised his concerns that the project is continuing. Chris Johnson has said he wants […]
Cayman stays on top of offshore merger deals
(CNS Business): One third of all merger and acquisition deals in the offshore world in the first half of this year took place in the Cayman Islands, according to a report by a firm of international lawyers headquartered here. Cayman retained its standing as the primary target of offshore transactions accounting for 40% of the […]
Lawyers’ law delayed as small firms ask for time
(CNS Business): The financial services minister has postponed the debate on the still controversial Legal Practitioners bill until the next meeting of the Legislative Assembly because of a request by some small and sole practitioners who want more time to submit suggestions that specifically impact their sector of the profession. Wayne Panton, who was hoping […]
UN expert calls on new boss to abolish tax havens
(CNS Business): The new United Nations Secretary-General, António Guterres, is being asked by one of the body’s human rights experts to call a world conference on tax avoidance and evasion, with the goal of abolishing all tax havens. The UN’s independent expert on the promotion of a democratic and equitable international order, Alfred de Zayas, […]
DoT pays consultants $68K to make new plan
(CNS Business): The Department of Tourism has turned to a Washington-based consultant company to deliver a new National Tourism Plan for the Cayman Islands that officials say will chart a sustainable course for the sector over the next five years. The contract worth CI$67,937.52 was awarded to Solimar International following an open competitive tender process […]
C&W reveals capability upgrade to Cay-Jam fibre network
(CNS Business): Cable and Wireless has said that it is starting an upgrade project this weekend adding 100Gbps capability to the Cayman-Jamaica Fiber System (CJFS) and the cable landing station at Eastern Avenue, George Town. This increased capability is designed to complement the firm’s increased Maya-1 cable system capacity, which lands at High Rock in […]
Ministry refutes water firm’s gripes
(CNS Business): Complaints from Cayman’s private sector water supplier over new legislation designed to properly regulate all utilities on the islands have been address by the planning minister in a very long detailed letter. Consolidated Water Cayman had written to the ministry that has responsibility for water and other utilities complaining that it had not […]
Britain’s OT minister backs Cayman’s offshore sector
(CNS Business): During her recent trip to the Cayman Islands, Baroness Anelay attempted to soothe fears that pressure from the world’s most powerful economies for increasing transparency in the offshore sector will eventually undermine the financial services success in jurisdictions like Cayman. When the UK’s overseas territories minister met with members of Cayman Finance, she […]
Minister to make case for lawyers’ law
(CNS Business): After almost 15 years of wrangling over a law to regulate the legal profession, the current financial services minister, a former offshore lawyer himself, is hoping he can finally steer through new legislation. But despite getting backing from the Cayman Islands Law Society and the Caymanian Bar Association, Wayne Panton has not won […]
Lund returns to desk on road to recovery
(CNS Business): Well-known local real estate agent Kim Lund recently returned to Grand Cayman and is back in the thick of buying and selling local property. The owner and broker at ReMax fell from the roof of his house in August and sustained a serious spine injury but has now begun the road to recovery. […]
Foreign investors must prove effort to find local partners
(CNS): As the Department of Commerce and Investment steps up the enforcement of the Local Companies (Control) Licence Law, it has said that foreign investors who are placing newspaper advertisements seeking Caymanian participation in potential business ventures must direct people to the Trade and Business Licensing Board because the law requires the board to consider […]
Work steps up on airport expansion
(CNS Business): Officials at Owen Roberts International Airport’s (ORIA) are warning passengers that work is stepping up at the facility on the renovation and expansion project. This means that travellers will see construction at both ends of the existing terminal over the next few weeks that will impact the normal flow of foot traffic around […]
Minister: Investment will be agriculture conference focus
(CNS Business): Agriculture Minister Kurt Tibbetts has said that “the challenge of attracting capital investment has long been recognised as a major constraint for the development of agriculture in the Caribbean”. As the host of the 14th Annual Caribbean Week of Agriculture next month (CWA), which the minister said placed agriculture and rural life on the […]
Minister presents revamped lawyers law
(CNS Business): After almost fifteen years and half a dozen attempts to pass the legislation, Financial Services Minister Wayne Panton has come up with a legal practitioners bill that has the support of the legal profession in Cayman and provides for the development and protection of local attorneys. Calling it an “immense improvement”, Panton said […]
CIMA appoints temporary banking boss
(CNS Business): Still plagued by staff shortages, including holes in its management team, the Cayman Islands Monetary Authority has appointed Gloria Glidden as the acting head of itsbanking supervision division. Glidden will take up the job on 1 October following the resignation of the current boss, Charles Ilako, who leaves at the end of this […]
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