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US fraudster used stolen cash for Cayman home
(CNS Business): A Kansas City man who admitted embezzling over US$6.5 million from his bosses also used some of his ill-gotten gains to buy a pricey beach house in the Cayman Islands using Cayman National Bank, according to a release from the US Attorney’s Office for the Western District of Missouri. Douglas Ferrell (34), who appeared […]
Panton battles latest blacklist
(CNS Business): Financial Services Minister Wayne Panton is still battling to get the Cayman Islands taken off the latest blacklist, maintaining that the inclusion of Cayman on the European blacklist of financial centres was completely inappropriate and misinformed. However, he said that stigma and the position taken by some nations on tax competition made the battle […]
Caledonian makes ‘no fine’ secret deal with SEC
(CNS Business): A confidential circular sent to the creditors of the Caledonian Bank Limited (CBL), which was brought down following an investigation by the US Securities and Exchange Commission (SEC), has revealed that despite the probe bringing the Cayman-based bank to its knees, there will be no fines levied against the institution over the alleged […]
Ministry wraps up pensions public meetings
(CNS Business): Community members gathered one last time on Thursday night at the George Town Town Hall to discuss the proposed changes the Ministry of Employment and the Department of Labour and Pensions have suggested in the National Pensions Law 2015. Minister of Employment Tara Rivers said the ministry set out to gain public input […]
Cayman Airways reveals new aircraft
(CNS Business): Cayman Airways expanded their aircraft fleet on Friday with a new turboprop plane that will exclusively service between Grand Cayman and Cayman Brac. The 34-seater Saab 340B+ aircraft will replace the 30-seat Embraer E120 service, which is currently operated under a wet-lease arrangement with InterCaribbean Airlines.
Road extension set to start November
(CNS Business): Two years after the Ironwood project was announced, developers said they are finally set to break ground on the $360 million commercial, tourism and residential community in Frank Sound by the end of this year. The uncertainty surrounding the future development of Cayman’s first ever PGA championship golf course has been questioned and […]
Cash transfer services hang in balance
(CNS Business): The future of money transfer businesses in the Cayman Islands is up for debate. Government leaders said when it comes to these types of services, in some instances the risks out weigh the rewards. US correspondent banks have pulled out of the “bulk cash business” and Cayman National Bank, which facilitates the remaining […]
Islamic finance on the rise in Cayman
(CNS Business): Islamic finance is growing beyond traditional borders to encompass new markets worldwide and continues to make steady inroads in the European and US markets. The Cayman Islands has also become a hub for this type of fund.
First alumni graduate from hospitality school
(CNS Business): UCCI School of Hospitality Studies held their first annual awards ceremony Thursday night and recognised 19 young Caymanians who had successfully completed the program. The hospitality school was launched in September 2014 and the course has been designed so that students experience many different aspects of Cayman’s hospitality sector.
Merchants push for cruise port development
(CNS Business): Some prominent merchants told CNS Business that they feel cruise tourism would plummet if a new cruise berthing facility is not built in the George Town Harbour. Business owners say it’s time for the island to move forward, while those against the cruise port continue to lobby against the idea in hopes that the government […]
CIAA invites bids for ORIA baggage area
(CNS Business): It’s been more than three months since the plans to upgrade and expand Owen Roberts International Airport were revealed, and now the Cayman Islands Airport Authority (CIAA) is taking bids from construction firms as to who will be in charge of creating the first phase of the major redevelopment project.
Gov’t plan to develop a national transport strategy
(CNS Business): It’s time to revamp the public transportation system in the Cayman Islands, to have more “reliable transport in all areas” that will “alleviate congestion on our road and parking downtown”, according to Tourism and Transport Councillor Joey Hew.
Home Gas wins best chili award
(CNS Business): The heat was on at this year’s 2nd Annual International Caybrew Chili Cook-off. Twelve teams from restaurants and organizations from across the island broke out their cooking pots and their favorite chili recipes. Home Gas Ltd took home the coveted 1st place trophy, followed by Cayman Cabana in 2nd and Duke’s restaurant in […]
LIME responds to internet speed petition
(CNS Business): An online petition is circulating throughout Cayman demanding “decent internet” on the island. Local campaigner Sandra Catron started the petition and said it’s time to mandate that customers actually receive the broadband internet speeds they are paying for.
Chamber calls for rule enforcement
(CNS Business): The president of the local Chamber of Commerce is calling on government to prosecute businesses that don’t follow the law. In a message on behalf of the local business association outlining the concerns on its agenda, Barry Bodden said the Chamber Council was concerned about the poor level of enforcement of laws and […]
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