Business
Finance laws still dominate drafting agenda
(CNS): Attorney General Samuel Bulgin has said Cayman is suffering from “review fatigue” over the scrutiny the jurisdiction faces relating to its vulnerability to financial crime in the offshore sector and related industries. Despite the ongoing engagement with international initiatives relating to taxes, anti-money laundering and combating terrorist financing, the constantly changing rules require more […]
Airport wildlife transferred to new ponds
(CNS): Dozens of birds and animals living in and around the ponds on the airfield at Owen Roberts International Airport have been relocated to new homes, officials have said. The Cayman Islands Airports Authority is due to start work on filling the ponds as part of the project to improve the airport’s apron, runway and […]
CUC’s CORE programme closed to new clients
(CNS): CUC has revealed its Consumer Owned Renewable Energy (CORE) programme is now fully subscribed and closed to new private customers. The quota for the initiative, designed to encourage people to produce their own renewable energy while staying on the grid, is full except for one remaining megawatt allocated to the public sector. This means […]
Gov’t presses on to meet CFATF requirements
(CNS): Alongside the raft of legislation government has drafted to address the gaps in Cayman’s regime for combating financial crime identified in a report last year, it is continuing with an intensive training programme for all stakeholders. Trainers for the Caribbean Financial Action Task Force (CFATF) visited earlier this month to guide supervisors here through […]
Caribbean should unite against new ‘pirates’
Mario Rankin writes: Why do some shipping companies that have their headquarters in one country register their ships in another country? In the maritime industry this is known as “Flags of Convenience”. While this practice is controversial, it became popular 100 years ago when US ships were trying to get around Prohibition (ban of alcohol) […]
Supermarket boss takes helm at Chamber
(CNS): Well known local supermarket owner and managing director, Woody Foster, has taken over the helm of the Cayman Islands Chamber of Commerce following the annual general meeting earlier this month. Foster, who was president elect, takes over from Chris Kirkconnell after his year as the business body’s president. He said that the Chamber’s advocacy […]
Premier to miss port JR for NY meeting
(CNS): Premier Alden McLaughlin will need to keep a close eye on his WhatsApp messages next week, as he heads to New York for meetings there with Cayman Finance, if he wants to keep tabs on the legal case opening Monday regarding the cruise port referendum. A press release from his office said that he […]
Margaritaville creates ‘all inclusive’ option
(CNS): With all-inclusive resorts often seen as undermining the benefits that tourism offers the wider community and economy, news that the Margaritaville resort on Seven Mile Beach is adding an all-inclusive option to their product offering is raising some concerns of a slippery slope. CNS spoke to a number of people in the tourism sector, […]
Cruise line’s ‘ghost ship’ raises new concerns
(CNS): Royal Caribbean appears to have linked the lack of cruise berthing facilities in the Cayman Islands to problems with its Western Caribbean itinerary. But more questions have been raised about this justification for the Cayman government’s cruise port project after news reports in Jamaica revealed that the cruise line is paying fees to that […]
25,000 customers hit by CUC power cut
(CNS): A widespread power outage across Grand Cayman on Sunday afternoon impacted the majority of CUC customers for as long as two and a half hours in some areas. CUC officials confirmed that over 25,000 customers from West Bay to East End experienced interruptions to their electricity supply from around 4:50pm until around 7:30pm. While […]
More laws coming to tighten offshore regime
(CNS): Financial Services Minister Tara Rivers is presenting another bundle of draft legislation to her colleagues in the Legislative Assembly to debate when it meets at the end of this month to help the jurisdiction meet the findings of last year’s FATF review. The draft bills deal with changes to the oversight of open-ended and […]
