Mac signs MOU in Philippines

(CNS Business): During his recent trip to Asia the Cayman Islands premier signed an MOU with a major conglomerate in the Philippines. Although government has not yet released the details of the deal with the San Miguel Corporation (SMC), a food corporation and majority shareholder in Philippine Airlines, it is understood to involve investment into Cayman Airways Limited (CAL). McKeeva Bush signed the deal when he was in Manila, which sources say could involve efforts by the Cayman government to assist the firm’s airline to expand its flights into the United States. However, this may be blocked by the FCO because of problems regarding safety standards in the country. Read more on CNS Business