Business
First CIG report released on state of cruise tourism
(CNS): The Economics and Statistics Office has released a report on the impact of cruise tourism on Cayman’s economy, based on data from the Florida Caribbean Cruise Association, the Port Authority of the Cayman Islands and the Department of Tourism. The document looks at government revenue from cruise tourism, how much passengers spend while ashore, […]
Bryan unaware referendum law will tackle finance rules
(CNS): Tourism Minister Kenneth Bryan has said he was unaware whether or not the legislation being drafted in preparation for the three-question referendum on General Election Day will tackle the issue of campaign financing or even if it needs to. Yet the Cayman Islands Government, using public cash, will coordinate the education and awareness campaign […]
Local grocery stores say no need to panic-buy
(CNS): The dockworkers’ strike in the United States at ports along the US East Coast and the Gulf of Mexico, which began on Tuesday, will have no immediate effect on grocery supplies coming into the Cayman Islands, according to a joint release from local supermarkets. A release from the Ministry of Tourism and Ports said […]
Mac claims cruise vote will be on Election Day
(CNS) According to McKeeva Bush MP (WBW), the government may move the proposed referendum asking the public if they want cruise berthing facilities in the Cayman Islands to the day of the 2025 General Election, expected to take place in April, rather than holding a separate vote later this year. Posting in a social media […]
Local banks follow US with interest rate cut
(CNS): Since the US Federal Reserve announced a 0.5% interest rate cut last week, some local banks have followed suit and reduced prime lending rates by the same amount. Butterfield, Cayman National and Proven Bank have all issued notices that their CI$ and US$ prime lending rates are decreasing from 8.50% to 8.00%. While interest […]
Cruise berthing facility referendum
(CNS): The Cayman Islands Government has set aside $1.2 million for a referendum on cruise berthing facilities, even though it will likely take place four or five months before the general election, which is expected in April. Election officials have said that holding the referendum at the same time as the general election would cut […]
Gov’t motion for cruise vote filed with parliament
(CNS): A government motion dated 26 August has been filed with the parliament, which sets the groundwork for the proposed referendum on cruise facilities. According to the motion, the government wants to ask Caymanians a very broad question: “Should the Cayman Islands develop cruise berthing infrastructure?” The motion, which is expected to be debated when […]
OfReg admits Maya-1 Cable had been damaged
(CNS): OfReg has said that an outage on a section of the Maya-1 undersea cable, which provides the Cayman Islands with international internet connections, has been resolved. An offshore repair was carried out in Mexico last week by the cable ship Wave Sentinel and a cable repair team, which restored full traffic service, officials stated. […]
ACT accuses CPR of bias and scare tactics
(CNS): The Association for the Advancement of Cruise Tourism in the Cayman Islands (ACT), which is pushing hard for a ‘yes’ in the government’s planned referendum on whether or not Cayman should build cruise berthing facilities, has taken aim at the non-profit campaigners who oppose a pier project. In a statement, the ACT accused the […]
Cayman registers 30k funds for the first time
(CNS): Officials have claimed that the Cayman Islands continues to cement its place as a global leader in investment funds after the jurisdiction topped a record-breaking 30,000 funds. The Cayman Islands Monetary Authority (CIMA) said that as of 4 September, the total number of registered investment funds in Cayman was 30,038 (17,080 private funds and […]
CPR takes public pulse as cruise battle heats up
(CNS): As the fight between the small number of operators and merchants set to gain from cruise ship berthing facilities and those who oppose such damaging development heats up, the Cruise Port Referendum Cayman campaigners have published an online survey.
