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Premier heads to London for Brexit talks
(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 Ministerial Council Brexit meeting was agreed […]
CAL flying twice weekly to Roatan
(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, said the expansion into Roatan from 16 March […]
Minister optimistic over OECD assessment
(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 Tax Purposes visited Cayman earlier this month to conduct the peer review […]
Fidelity drops debate from conference
(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 no panel debate and no other politicians in […]
Minister aims for business compliance
(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 in the local business environment. […]
CUC to close George Town HQ payment centre
(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 […]
Margaritaville Resort to open February
(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 development. The first guests […]
Glidden confirmed as CIMA’s banking boss
(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 supervision of both international and commercial […]
Trump’s Treasury pick failed to disclose Cayman funds
(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 the man who foreclosed on thousands of people’s homes in the […]
China to ‘favour’ Cayman registered ships
(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 to confirm the deal, which bestows ‘Most Favoured […]
2016 cruise figures fall short on previous year
(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 brought 1,711,853 last year. The figures […]
High hopes that lawyers bill will pass
(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 all expressed the hope that this year […]
Tourism challenges slow growth in sector
(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% nonetheless. For more than six years overnight […]
Flow confirms acting MD in local top job
(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 the telecoms industry, having worked […]
$630 million BOP deficit offset by services surplus
(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 Investment Position (IIP) Report 2015 was released Friday and it details the economic and […]
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