Tag: Featured
CIG still dodging CI$2.2B CS retirees healthcare liability
(CNS): At a Public Accounts Committee meeting on Thursday, senior officials once again dodged questions on how and when the Cayman Islands Government proposes to place its liability for the future healthcare needs of retired civil servants squarely on its books. This financial liability is currently only included in supporting notes that form part of […]
Redacted report reveals little to justify subsea cable
(CNS): The Cayman Islands Government has released a heavily redacted outline business case, compiled by consultants Grant Thornton, on the government’s plans for a new telecommunications submarine cable. Key details have all been omitted, such as costs (estimated to be in the tens of millions of dollars), its length and where it will be linked […]
Cayman’s GDP grew by 3.6% in the first half of 2023
(CNS): According to the Cayman Islands Semi-Annual Economic Report 2023 by the Economics and Statistics Office, the gross domestic product grew by an estimated 3.6% in the first half of last year. However, with inflation running at around 5.3% during the same six-month period, few people benefitted from the expanding economy. The weighted average lending […]
Inflation begins to slow but averaged 3.8% in 2023
(CNS): The cost of living rose by an average of 3.8% last year compared with 2022, the Economics and Statistics Office confirmed after releasing its Consumer Price Index Report for 2023 this week. While inflation slowed last year, particularly during the last quarter, the rise in the CPI followed the 9.5% average increase during the […]
Dozens object to Aqua Bay condo tower on 7MB
(CNS): An application for the demolition and redevelopment of a condo complex at the northern end of Seven Mile Beach has attracted 48 letters of objection from neighbouring owners, a long list of concerns from the Department of Environment and questions about the height of the proposed new tower from the Department of Planning.
CAL needs realistic budget to cover losses, says OAG
(CNS): Between 2018 and 2022, the Cayman Islands Government gave Cayman Airways Limited more than $152.5 million in funding, but each year the money was not enough to cover expenses. Over the same period, it received almost $24 million in supplementary appropriations after total losses of $34 million due to unrealistic budgeting. A new report […]
Beach project fiasco in US provides lesson for 7MB
(CNS): The Cayman Islands Government may want to rethink plans to spend CI$21 million on imported sand to replace parts of Seven Mile Beach in front of some of the islands’ most expensive real estate after a half-million-dollar sand dune project in Massachusetts took just three days to wash away. Although the Department of the […]
One charged in gang-related targeted patrols
(CNS): A 26-year-old man from George Town has been charged with two counts of possession of an unlicensed firearm after police stopped and searched a car in George Town on Friday, 8 March. According to the RCIPS, shortly after 1:00pm, officers had cause to stop a vehicle travelling on Shedden Road, driven by a lone […]
Data suggests Cayman can sustain $10 minimum wage
(CNS): Pressure from the business community led the Minimum Wage Advisory Committee (MWAC) to recommend an increase to the national basic pay of just CI$2.75 per hour, rising from the current meagre CI$6 to $8.75 per hour, even though their research and data from the Economics and Statistics Office indicated that businesses could manage an […]
Police believe arrested man is part of grooming ring
(CNS): Police are investigating what they believe is an organised grooming ring based in George Town where adult men are luring vulnerable young girls away from school and guardians. Last month, following a report of three missing teenage girls, an RCIPS school liaison officer obtained information showing communication from a man asking a girl to […]
CIG asks public to review $8.75/hour basic pay
(CNS): The Cayman Islands Government is seeking public comment on the Minimum Wage Advisory Committee’s long-awaited report, made public this week, and the recommendation to implement a new basic national minimum wage of just CI$8.75. No one from the elected arm of government has indicated whether or not the MWAC’s recommendations will be accepted and […]
