Business
Businesses promised smoother path to opening day
(CNS): Government is promising the business community a smoother path to opening up a business with the implementation of amendments to the Trade and Business Licensing Law that have now come into effect. Largely related to the application process for a T&B licence, officials are claiming that w [...]
Canada’s legal weed sparks Cayman money laundering claims
(CNS): While the prospect of legal cannabis for recreational use in the Cayman Islands is not expected anytime soon, Canada is just a couple of months away from full legalisation. As that date approaches, legislators have raised concerns that the multi-billion dollar legal weed market could be taken [...]
UK MPs double down on demand for public registers
(CNS): The leaders of the British Overseas Territories impacted by the UK parliament’s vote in April to impose public ownership registers are currently in London, battling to reverse the decision and, in Cayman’s case, attempting to change the constitution. However, the British MPs behin [...]
CIG officials make ‘great progress’ on constitution
(CNS): Cayman Islands London representative Eric Bush, who has been coordinating meetings in the UK for the premier’s delegation this week, said that “great progress” is being made in efforts to improve the constitutional relationship between Britain and the Cayman Islands. Premier [...]
CIMA appoints three new chiefs
(CNS): The Cayman Islands Monetary Authority has promoted three members of its team into senior posts covering statistics and inspections. Kenton Tibbetts, Jackie Powell Marsden and Yoshneck Mutomba, who have all worked at the authority for several years, have been appointed to head up various speci [...]
Lawyers scrutinize fraud trial outcome
Walkers Cayman Islands partners Colette Wilkins and Shelley White write: After a trial lasting a little over a year, the Chief Justice of the Grand Court of the Cayman Islands has handed down judgment in the case of AHAB v SICL & Others, the most significant fraud trial, both in terms of value a [...]
Traffic, sewerage objections dismissed for WBR development
(CNS): Parkway residents rallied unsuccessfully in opposition to plans for a new property development by local entrepreneur Stefan Baraud at the front of their neighbourhood on the West Bay Road, which was approved by the Central Planning Authority last week. The proposed development of 17 two-store [...]
Public purse gets US$1M from stock exchange
(CNS): The Cayman Islands Stock Exchange has handed over a special dividend of US$1,000,000 to the public purse as a result of a profitable period over the last 18 months. CSX Chairman Anthony Travers said the government company had enjoyed a period of strong sustained growth, which was “encoura [...]
Chief justice dismisses claims in massive Saudi fraud trial
(CNS): The biggest ever trial to be held in the Cayman Islands has finally concluded, after almost two years of deliberations, as fraud allegations in Saudi Arabia — centering initially on over US$9 billion of debt — were dismissed by Chief Justice Anthony Smellie in the case known as SAAD, whic [...]
Unemployment persists despite economic growth
(CNS): The finance minister painted a rosy picture of Cayman’s economic growth and government’s fiscal prudence when he appeared at an economic forum Friday. Roy McTaggart pointed to growth in the economy of 2.9% in 2017, with the construction and tourism sectors leading the way, but Min [...]
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