World Business
Queen using Cayman investment fund
(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 with the release of a trove of information […]
Flow offers free credit in Dominica
(CNS Business): Cable & Wireless Communications (C&W), the parent company of Flow, says it has begun the successful restoration of mobile services to Dominica and has extended free credit to help mobile customers communicate with family and friends. The island’s infrastructure, including its communications networks, suffered significant impact from Category 5 Hurricane Maria, which made […]
Digicel to cut one in four jobs in restructure
(CNS Business): Digicel is a planning to cut a quarter of its workforce over the next 18 months, the firm said in a statement on its website. The company claims it is reorganising to be “fit for purpose for 2030 and beyond” and this means a 25% reduction of the global workforce over the next […]
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 […]
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 […]
Bolt signs up as Digicel’s speed chief
(CNS Business): Triple-triple Olympic champion Usain Bolt has signed a lifetime partnership agreement with telecommunications company Digicel as its chief speed officer (CSO). Bolt “will get up close and personal with Digicel customers in a number of ways”, the regional telecommunication company said, as it seeks to capitalise on Bolt’s fame and speed. The unique […]
UK bill to open details on multinational tax avoidance
(CNS Business): A legislative amendment in the UK this week will give the British government the power to publish details of tax payments made by UK-based multinational corporations on a country by country basis, as tax authorities try to clamp down on the abuse of tax laws and aggressive tax avoidance. The change in the […]
CIG’s Honduras day-trip paves way for deals
(CNS Business): The government is hoping Honduras could serve as a new source of imports for the Cayman Islands and a new gateway for Cayman Airways. On a day trip to Roatan on Tuesday, the premier led a delegation to discuss future trade deals between the Central American country and Cayman. Alden McLaughlin and Deputy […]
DoT upbeat about Cuba’s burgeoning tourism
(CNS Business): Tourism to Cuba was boosted last week with the announcement of two major developments: there will be a resumption, after more than 50 years, of commercial flights to the island from the US before the end of the year, and a new Miami-based cruise line is planning trips from Florida to Cuba. However, […]
Panama Papers published on line
(CNS Business): The huge database of documents, now known as the Panama Papers, relating to more than 200,000 offshore accounts has been posted online. The full database became accessible to the public for the first time at 18:00 GMT on Monday at offshoreleaks.icij.org. Anyone can now search the extensive data base, which includes many entities registered […]
First US cruise ship for fifty years docks in Havana
(CNS Business): More than 700 passengers on the first cruise in almost 50 years arrived in Havana Monday on a Carnival ship, which left Miami on Sunday. The Adonia, which is part of its Fathom cruise fleet, steamed into Cuba to be greeted by waving crowds. Although Americans still cannot legally visit Cuba as tourists, […]
Carnival first major US cruise line to sail into Cuba
(CNS Business): The world’s largest cruise company will be the first of the major American lines to cruise to the island of Cuba in more than 50 years. According to international reports, the Adonia, one of the cruise line’s Fathom brand, will sail from Miami with 704 passengers for a week-long trip to the island on […]
Cuba and US agree deal for commercial flights
(CNS): A new agreement between the United States and Cuba could see more than 100 flights a day between the two countries before the end of this year — five times the traffic currently generated by the charter flights that began when hostilities between the two governments began thawing over year ago. However, the deal could have a negative […]
Tax havens blamed in global inequity crisis
(CNS Business): Just 62 people hold the same amount of wealth as the poorest half of the entire world population combined, a new Oxfam report published Monday has revealed. The global charity said runaway inequality has seen the wealth of the richest 62 people, mostly men, increase by more than half a trillion dollars to $1.76tr. […]
US now more secret than Cayman
(CNS Business): Despite the constant criticism of the Cayman Islands as a so-called tax haven by US politicians and media, in the latest edition of the Financial Secrecy Index, compiled by the Tax Justice Network, the United States is placed above the Cayman Islands in its rankings. The report, which comes out every two years, […]
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