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Financial services gets budget boost

Financial services gets budget boost

| 07/11/2017

(CNS Business): Funding for the financial services sector has increased considerably in the 2018/19 budgets, the new minister for the sector, Tara Rivers, revealed in the Legislative Assembly Monday, as she stressed the need to protect the industry and underscored the importance of the sector to [...]

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Scott defends Queen’s use of Cayman funds

Scott defends Queen’s use of Cayman funds

| 07/11/2017 | 2 Comments

(CNS Business): After the first revelations from the hacked documents that have been dubbed the Paradise Papers began making headlines around the world Sunday, Jude Scott, CEO of Cayman Finance, has defended the British monarch’s use of Cayman Islands funds and what he said is the legitimat [...]

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Southwest Airlines plans new service from Houston

Southwest Airlines plans new service from Houston

| 07/11/2017 | 1 Comment

(CNS Business): Hot on the heels of recent revelations about the continued record-breaking success of overnight tourism in the Cayman Islands, ministry officials were welcoming an announcement from Southwest Airlines that it will begin a seasonal summer service from Houston, Texas, to Grand Caym [...]

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US partner pulls out of deal with Health City

US partner pulls out of deal with Health City

| 07/11/2017 | 20 Comments

(CNS Business): The faith-based US healthcare provider, Ascension, has pulled out of its partnership with Health City Cayman Islands, the East End hospital founded by the internationally renowned Indian cardiac surgeon, Devi Shetty. Since the state-of-the-art facility was first conceived and then [...]

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Higher sales boost CUC profits

Higher sales boost CUC profits

| 06/11/2017 | 0 Comments

(CNS Business): Caribbean Utilities Company has revealed an increase on its third quarter earnings for 2017 when compared to the same period last year of $300,000 due to a 5% increase in sales. The third quarter 2017 was $7.7 million compared to net earnings of $7.4 million for the three months [...]

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Cayman gears up for CFATF review

Cayman gears up for CFATF review

| 07/11/2017 | 0 Comments

(CNS Business): The attorney general has said that the Portfolio of Legal Affairs, the Ministry of Financial Services and CIMA have been working with the public sector agencies and private sector stakeholders to get the jurisdiction in a state of readiness for the upcoming evaluation by the Carib [...]

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Queen using Cayman investment fund

Queen using Cayman investment fund

| 06/11/2017 | 31 Comments

(CNS Business): Labour leader Jeremy Corbyn has called on Queen Elizabeth to apologise to the British people for using tax havens, including the Cayman Islands. Revelations that the Queen was among a list of very rich individuals and organisations using offshore vehicles to dodge taxes has come [...]

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Premier: Cayman needs to keep defending offshore

Premier: Cayman needs to keep defending offshore

| 31/10/2017 | 3 Comments

(CNS Business): The Cayman Islands will need to keep up its defense of the offshore financial services sector and maintain regular engagement with European Union leaders, in particular, the premier has said, because the recent delegation to Brussels found that politicians there remain “cha [...]

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Premier pledges major cut in SME red tape

Premier pledges major cut in SME red tape

| 30/10/2017 | 6 Comments

(CNS Business): The premier has committed to cutting the regulations that he said are hindering small businesses. Alden McLaughlin said that “ambitious, entrepreneurial Caymanians need encouragement, not the dead weight of government bureaucracy holding them back”, as he pledged to ab [...]

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Dart’s tunnel CPA hearing deferred over paperwork

Dart’s tunnel CPA hearing deferred over paperwork

| 30/10/2017 | 0 Comments

(CNS Business): The increasingly controversial application by Dart to expand the West Bay Road tunnel was adjourned Wednesday, after the planning department filed the wrong documents to the Central Planning Authority. It is not clear when the authority will hear the application as the agenda for [...]

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Cayman still labeled as ‘notorious tax haven’

Cayman still labeled as ‘notorious tax haven’

| 26/10/2017 | 5 Comments

(CNS) Business): Despite the efforts of Cayman Islands’ finance industry, with government and its lobbyists spending time and money trying to paint a picture of how it fits into the global economy and its high standard of regulation, another report on tax issues relating to US-based global [...]

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Cayman sends full tourism team to FCCA conference

Cayman sends full tourism team to FCCA conference

| 26/10/2017 | 1 Comment

(CNS Business): Government officials were joined by private sector tourism stakeholders to create a 19-man delegation at the 24th annual Florida Caribbean Cruise Association (FCCA) ​Conference in Merida, Mexico, where they delivered the message that Cayman is open for business following the im [...]

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Flow’s Cayman boss departs after 10 months

Flow’s Cayman boss departs after 10 months

| 25/10/2017 | 3 Comments

(CNS Business): The managing director of Flow’s Cayman Islands operations has resigned after just ten months on the job. Victor Salgado was appointed managing director in December last year, but according to a report in the Jamaican Gleaner, he will be replaced in the interim by the cust [...]

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Butterfield acquires trust arm of Deutsche Bank

Butterfield acquires trust arm of Deutsche Bank

| 26/10/2017 | 0 Comments

(CNS Business): Butterfield has entered into an agreement to acquire Deutsche Bank’s Global Trust Solutions (GTS) business in an undisclosed deal that excludes the US operations, the bank said in a press release Wednesday. The deal is subject to regulat [...]

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Offshore law firm braces for data exposure

Offshore law firm braces for data exposure

| 25/10/2017 | 14 Comments

(CNS Business): One of Cayman’s leading offshore law firms is bracing for potential exposure of its business and that of its clients in the international media after admitting that it suffered a cyber security breach last year. Some of the information has found its way to the International [...]

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