Tag: Featured
June deadline for Cayman EU funds passport
(CNS Business): The Cayman Islands can expect a decision on its inclusion in the EU’s AIFMD (Alternative Investment Fund Managers Directive) Passport scheme by June, which, if granted, would secure future access to European investors for funds either managed or registered in Cayman. The funds industry is keenly awaiting a resolution to this long drawn […]
Premier berates TV show at investment summit
(CNS): The controversies surrounding the recently broadcast BBC documentary about the Cayman Islands was at the heart of a speech delivered by the country’s leader at last week’s Alternative Investment Summit. With Cayman central to the success of alternative investment, Premier Alden McLaughlin said it was a shame “that there are those who wish to shut […]
Chamber fumes quietly over Rivers’ comments
(CNS Business): Stuck between a desire to rail against criticisms levelled at it by the employment minister and a wish to show its willingness to cooperate with government, the Chamber of Commerce responded with a short public statement Tuesday. “In order to keep the focus on moving forward, the Chamber will state only that it is concerned […]
Sir Richard Branson talks eco-tourism with Guy Harvey
(CNS Business): Efforts by renowned ocean conservationists, Sir Richard Branson and Guy Harvey, to stimulate eco-tourism in the Caribbean are taking off in a big way and making a difference, protecting tiger sharks and whale sharks across the region. These projects, among others, were highlighted last week in a special ‘one-on-one’ interview at the Cayman Alternative […]
Chamber and CIG make up over unemployment
(CNS Business): The Cayman Islands Chamber of Commerce and the government have agreed to work together to address the unemployment challenges facing the country. After several weeks of finger pointing between government and the Chamber over the issue of employing local workers, the newly elected Executive Committee said they had agreed to “identify ways to stimulate economic growth which […]
Bodden fires parting shots at government
(CNS Business): The departing president of the Chamber of Commerce took aim at the employment minister and the premier in his parting address last week. Barry Bodden, who had completed twelve months as the business body’s leader, criticised Tara Rivers’ failure to engage with the Chamber over the labour bill, the failure of the NWDA […]
Cayman hedge fund cancellations spike
(CNS Business): The number of hedge funds registered in the Cayman Islands has fallen after cancellations more than doubled new authorisations in the final quarter of 2015, leaving Cayman’s hedge fund count sitting just below the 11,000 level, against a background of significant volatility in investment markets. At the end of 2015 there were 10,940 funds […]
Golf course developers to use waste tyres
(CNS Business): Developers of a proposed golf resort in the Frank Sound area have struck a deal with a waste company to use the recycled shredded tyres from the George Town dump as fill for an Arnold Palmer 18-hole golf course. Officials from the Ironwood project said they have signed an agreement with a company that […]
Minister disappointed over daylight savings U-turn
(CNS Business): Financial Services Minister Wayne Panton has said he is disappointed that the Cayman Islands Government will not be going ahead with the decision to introduce daylight saving time in March. The minister told CNS Business it was “unfortunate” that the opposition to the plan had mounted recently in the face of a jittery world […]
Governor struggles to explain offshore sector
(CNS Business): Quizzed over what the Cayman Islands and its offshore sector means to the people of Britain, the governor struggled to answer Jacques Peretti in the documentary aired on the BBC in the UK on Friday evening. “Britain’s Trillion Pound Island”, in which the producer and filmmaker tried to understand how the financial services industry […]
CEC added US $70M to local economy
(CNS Business): Cayman Enterprise City officials say that the special economic zone (SEZ) has attracted 60 new companies over the past year, that its impact to the local economy since its creation is nearly US$70 million and that there are now around 300 zone-based employees. Almost five years after former premier McKeeva Bush announced plans for a deal […]
Brac hotel upgraded, renamed and ‘reimagined’
(CNS): Following major renovations made to the Little Cayman Beach Resort in 2009, which resulted in raising the occupancy to 85% in 2015 – an increase of about 20% since 2008 – the owners have now turned their attention to the Cayman Brac Beach Resort, formerly the Brac Reef. Phase one, a large free-form pool […]
Bar Association pleads for lawyers law
(CNS Business): Yet another year has passed with no sign of a modernised law dealing with the legal profession and, as the current president of the Caymanian Bar Association, it was Abraham Thoppil’s turn this year to urge government to address the issue. In his speech at the opening of the Grand Court Wednesday, he called it “a […]
Arrivals soar to new record highs
(CNS): Over 2.1 million visitors arrived in Cayman during 2015, making it, as expected, another record-breaking year. Both cruise and air arrivals were up during the last twelve months, with 385,379 total air arrivals, a marginal 0.67% increase over 2014. However, this was not only the most arrivals since records began but the ?th year in […]
Government confirms new booze board members
(CNS Business): A new line-up of faces will be on the Liquor Licensing Board as it moves into a new legislative regime following the implementation of the amended law this month. After more than a decade heading up the board, Mitchell Welds has been replaced by Campbell Law, Corporate Manager at Higgs & Johnson Corporate Services […]
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