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Banks under pressure to shift to electronic clearance

Banks under pressure to shift to electronic clearance

| 11/05/2016 | 4 Comments

(CNS Business): The government is engaged in talks with local banks to introduce electronic transfers and clearing systems in the first quarter of next year, Financial Services Minister Wayne Panton has stated. He told legislators last week that the six local clearing banks have entered into an MOU with a Barbados-based firm to create a […]

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Maedac pulls out of retail fuel trade

Maedac pulls out of retail fuel trade

| 11/05/2016 | 2 Comments

(CNS Business): After more than thirty years selling fuel to Cayman drivers, Maedac has pulled out of the gas retail business and will be focusing on its wholesale business and other new business-to-business projects. Maedac Rubis gas station on Crewe Road closed down last week because, Operations Manager Morgan DaCosta explained, it was time for […]

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Warm weather and new customers boost CUC profit

Warm weather and new customers boost CUC profit

| 04/05/2016 | 7 Comments

(CNS Business): Both the weather and an increase in customers helped to drive profits up for Caribbean Utilities Company (CUC) in the first quarter of this year, despite increased depreciation, maintenance and amortization costs, according to results released by the power provider on Grand Cayman. The firm also claimed that it had a 99.9% reliability […]

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Ex-senior cop to lead DCI enforcement team

Ex-senior cop to lead DCI enforcement team

| 02/05/2016 | 1 Comment

(CNS Business): A former chief inspector with the RCIPS has taken up the post of head of Compliance and Enforcement at the Department of Commerce and Investment (DCI), which has added four new staff members over the last month to beef up enforcement of the laws relating to the business community. Claudia Brady, who started […]

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CORE programme grows another 2MW

CORE programme grows another 2MW

| 02/05/2016 | 12 Comments

(CNS Business): The Electricity Regulatory Authority (ERA) has sanction an expansion of Caribbean Utilities Company’s Consumer-Owned Renewable Energy (CORE) Generation Programme, which will see more residential and commercial customers who are using alternative power, such as solar and wind, to feed back another two megawatts of power to the grid. The Feed-in Tariffs (FITs) programme, […]

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Key workshops available at small businesses expo

Key workshops available at small businesses expo

| 25/04/2016 | 0 Comments

(CNS Business): Workshops on the new Trade and Business Licensing Law, the minimum wage and social media use are just some of the events taking place at the 2016 Small Business Expo next month at the University College of the Cayman Islands. Now in its fourth year, the event which was hosted by the Department […]

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Chamber adds voice to police criticisms

Chamber adds voice to police criticisms

| 21/04/2016 | 7 Comments

(CNS Business): The Cayman Islands Chamber of Commerce is calling for the departing police commissioner to produce and publish a report detailing the difficulties within the Royal Cayman Islands Police Service. In a short statement from the Chamber Council, the members said that the change in leadership with David Baines’ departure presented an opportunity to […]

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Ten storeys: setbacks and other restrictions

Ten storeys: setbacks and other restrictions

| 21/04/2016 | 3 Comments

Stuart Rowe writes: A recent decision of the Grand Court has affirmed the relevance of the 1997 Development Plan within Cayman’s development and planning regime and in so doing has cast doubt over the Central Planning Authority’s ability to effectively deal with ‘high rise’ developments exceeding seven storeys in height.

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CUC boss rings trading bell at Toronto exchange

CUC boss rings trading bell at Toronto exchange

| 20/04/2016 | 2 Comments

(CNS Business): Richard Hew, the President and CEO of Caribbean Utilities Company, Grand Cayman’s private sector power provider, rang the bell to open the day’s trading on the Toronto Stock Exchange on Friday to mark the firm’s 50th anniversary celebrations and 25 years of trading on Canadian exchange. CUC, which marks 50 years of incorporation […]

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25-hour working week optimum for over 40’s

25-hour working week optimum for over 40’s

| 19/04/2016 | 4 Comments

(CNS Business): Scientists in Australia have found that people over the age of 40 perform best when they work no more than three days or 25 hours per week. While most people of that age are lucky if they can do less than 45 hours a week, the research suggests that workers aged forty and over […]

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CAL queries Mexican airspace fees

CAL queries Mexican airspace fees

| 15/04/2016 | 6 Comments

(CNS Business): The CEO of Cayman Airways says there are no records to support claims by the Mexican authorities that Cayman owes hundreds of thousands of dollars in fees for flying through its airspace and that talks continue to resolve the problem. Fabian Whorms explained that CAL, like other airlines, has received invoices from Mexico […]

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CAL to begin phased replacement of fleet

CAL to begin phased replacement of fleet

| 13/04/2016 | 59 Comments

(CNS Business): Government has confirmed its approval of plans by Cayman Airways Limited (CAL) to begin phasing in a brand new fleet of modern aircraft to meet the expected growth in tourism. The national flag carrier is about to begin the tendering process to lease four new 737-8Max aircraft to replace its aging fleet. Despite […]

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Flow re-route traffic to tackle email trouble

Flow re-route traffic to tackle email trouble

| 10/04/2016 | 2 Comments

(CNS Business): Local telecommunication firm Flow has stated that recent email problems for their customers using the long-standing candw.ky email address should have been resolved after the firm re-routed the electronic communication following difficulties in their Miami connection. CNS Business received a number of complaints from readers that emails were frozen, including small businesses who said […]

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Business email scammers target Cayman

Business email scammers target Cayman

| 23/03/2016 | 0 Comments

(CNS Business): There has been an increase in wire transfer frauds by email against Cayman Islands businesses and government entities, the new Cybersecurity Incident Response Team, CIRT-KY, has warned. The internet security arm of the Information and Communications Technology Authority (ICTA), CIRT-KY said the scammers are masquerading as legitimate businesses in an attempt to make unauthorised wire transfers. “Actors use the compromised […]

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Doctors take over local private hospital

Doctors take over local private hospital

| 22/03/2016 | 0 Comments

(CNS Business): A new company made up of doctors as well as local and international investors has bought the Chrissie Tomlinson Memorial Hospital. CTMH Holdings Ltd, the newly formed holding company, has also purchased land, buildings and related medical companies. The hospital was sold by Dr Steve Tomlinson, who opened the private sector facility in […]

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