Tag: Featured
Input sought on beneficial ownership plan
(CNS Business): Government is hoping to steer through amendments to the Companies Law in January to allow the development of a centralised platform for beneficial ownership information and is seeking comment on the proposals. The financial services ministry has stated that it will not consider the introduction of a public register until that becomes the […]
Panton talks de-risking with US lawmakers
(CNS Business): Financial Service Minister Wayne Panton is continuing to talk with US lawmakers about how the move by American banks to drop money service business clients is impacting the Caribbean region and is seeking a way to address the problem. The banks’ efforts to comply with more stringent guidelines regarding money laundering has seen […]
Cayman Finance boss talks transparency with BBC
(CNS Business): Appearing on ‘Business Live’ on the BBC’s World News channel earlier this month, Jude Scott stressed that Cayman is not a tax haven but a tax neutral jurisdiction. The CEO of Cayman Finance pressed home the continued claim that Cayman is a transparent jurisdiction where the financial industry is held to the highest […]
Schwarzenegger to star at Cayman investment conference
(CNS Business): Actor and former California governor Arnold Schwarzenegger will be visiting Cayman in February as the keynote speaker for the Cayman Alternative Investment Summit (CAIS). Schwarzenegger left politics in 2011 but he continues to be an advocate of sustainable energy and was a leading voice at the Paris climate conference last year. In an ironic twist, […]
Plans to cut dredging go to cruise lines
(CNS): The tourism ministry councillor, Joey Hew, has claimed that the cruise port’s new design reduces the dredging footprint, as government prepares to begin the tender process for the controversial project, which it maintains will be underway before the election. With the tourism ministry’s review of the revised design plans completed, Hew said they had […]
Lawyers accuse CIG of secrecy over LPB
(CNS Business): Efforts by Financial Services Minister Wayne Panton to steer through legislation to govern the Cayman Islands legal profession ahead of the next Financial Action Task Force review and after 15 years of failed attempts by previous governments have been undermined by more complaints from the sector. Four local attorneys have accused the ministry […]
ICTA calls for local internet exchange
(CNS Business): As the Information & Communications Technology Authority (ICTA) deals with yet another internet outage that has been effecting some users this week, officials are again calling for local telecoms providers (ISPs) to establish a local internet exchange point (IXP). The authority said that the local internet service providers’ reliance on overseas providers means […]
Dart hotel formally cleared to open
(CNS Business): The tourism minister handed over the hotel licence for the Kimpton Seafire Resort + Spa Friday, paving the way for the hotel’s official opening later this month. The first new hotel to open along Cayman’s Seven Mile Beach for more than a decade, it has 266 guest rooms and suites and has been […]
Cayman hotel closure causes holiday blues for visitors
(CNS Business): Families planning on visiting the Cayman Islands over the coming weeks and months say they cannot track down the owners or managers of the now bankrupt Riviera hotel in South Sound. Two UK-based families who were expecting to stay at The Riviera over Christmas told CNS Business that they are facing the prospect […]
CSX slashes listing transfer fees to win European business
(CNS Business): The Cayman Islands Stock Exchange has made a play to capture listing business from Europe, where issuers have been hit by additional red tape relating to market issues, while slashing the costs of transferring debt listings to Cayman. New legislation in the European Union to tackle market abuse and insider information has significantly […]
Industry analysts find Flow fastest local provider
(CNS Business): Independent telecoms analyst Ookla, which operates speedtest.net, an online portal that measures internet speeds, has found that Flow has the fastest broadband and mobile services in the Cayman Islands, based on raw data records for the past six months. Regardless of ongoing complaints that internet service in the Cayman Islands from all of […]
Plug pulled on local electrical contractors
(CNS Business): As many as 60 people could have lost their jobs after a leading electrical firm went bust. MEPCO, which was created in 2008 and owned by local businessmen Jimmy Laurenson and Michael Brown, is now in the hands of liquidators. Despite having a significant presence on the island and what appeared to be […]
Frustrations mount over GT waterfront project
(CNS Business): Following confirmation last week that the Central Planning Authority had conceded that planning permission had been granted in error for a waterfront development in George Town, the neighbouring landowner who had appealed the CPA’s decision to grant permission has raised his concerns that the project is continuing. Chris Johnson has said he wants […]
Lawyers’ law delayed as small firms ask for time
(CNS Business): The financial services minister has postponed the debate on the still controversial Legal Practitioners bill until the next meeting of the Legislative Assembly because of a request by some small and sole practitioners who want more time to submit suggestions that specifically impact their sector of the profession. Wayne Panton, who was hoping […]
DoT pays consultants $68K to make new plan
(CNS Business): The Department of Tourism has turned to a Washington-based consultant company to deliver a new National Tourism Plan for the Cayman Islands that officials say will chart a sustainable course for the sector over the next five years. The contract worth CI$67,937.52 was awarded to Solimar International following an open competitive tender process […]
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