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Embattled chairman of the Cayman Islands Airports Authority (CIAA), Richard Arch, has resigned after being asked to do so by new Minister of Tourism Moses Kirkconnell.
Arch confirmed he had been asked to resign and said he would not seek any role with the CIAA in the future.
Arch has been the subject of much media backlash [...]
From Sydney Morning Herald
Could control of troubled electricity and gas retailer EnergyAustralia move from Hong Kong to the Cayman Islands?
CBD hears talk that Hong Kong’s China Light and Power, which owns EnergyAustralia, is considering a trade sale, possibly to Alinta Energy.
The Alinta business was taken over by its lender, private equity group TPG, in 2011.
It’s [...]
From Conyers Dill & Pearman
In VTB Capital v Universal Telecom Management and another (Judgment 4 June 2013), the Court of Appeal held that the Cayman Islands Court has jurisdiction to grant a Mareva injunction against a non‐party resident in the jurisdiction in support of proceedings against a third party in another jurisdiction. In so doing [...]
From Caribbean360
WASHINGTON D.C., United States – The World Bank has warned that growth in the Caribbean “will be held back” by large fiscal adjustments necessary to bring fiscal deficits to sustainable levels and help reduce public debt burdens.
“Growth in the Caribbean continued to disappoint, decelerating to 3 percent in 2012 as growth decelerated in the [...]
Seagate Technology Announces Successful Completion of Cash Tender Offer for Outstanding 7.75% Senior Notes Due 2018 and 6.80% Senior Notes Due 2016
CUPERTINO, CALIF. — Seagate Technology plc (NASDAQ: STX) gave notice of the completion of the cash tender offer by its wholly owned subsidiary, Seagate HDD Cayman (“HDD Cayman”), previously announced on May 16, 2013 [...]
There has been much published in Cayman’s media concerning the number of trips our senior government officials have made over the past four years. Ex ministers McKeeva Bush and Juliana O’Connor-Connolly have come in for the most criticism.
However, compared to the following story that relates only to local council officials (NOT UK GOVERNMENT) and [...]
By Paddy McGuffin Home Affairs Reporter in Belfast, Morning Star
Anti-poverty campaigners hit out at David Cameron at the G8 summit today, accusing him of undermining plans to tackle tax evasion.
War on Want pointed out that many of the world’s major tax havens are British, including overseas territories such as the Cayman Islands, Bermuda and British [...]
Ambow setback teaches Baring a lesson in China investing
By Matthew Miller and Stephen Aldred, Reuters
(Reuters) – Baring Asia Private Equity, with $5 billion in assets under management, has a reputation as one of the savviest investors in China.
But the Hong Kong-based firm is now sitting on an $43 million paper loss from a $57 million [...]
BASSETERRE, St. Kitts, June 17th 2013 – The Caribbean Development Bank-sponsored four-day national workshop on ‘Financial Management Techniques for Macro, Small, and Medium-sized Enterprises’ held last week at the Ocean Terrace Inn and attended by 25 participants has been hailed a success.
Mr Philip Browne, Business Development Officer, National Entrepreneurial Development Division (NEDD) in the Ministry [...]
By Rebecca Zuill
Approximately 2,000 foreigners face expulsion from the Cayman Islands in October when their work visas expire, Bloomberg reports.
Cayman’s new Premier Alden McLaughlin has made it “quite clear” to his immigration department that he wants to find a way to keep the expatriates while reducing a growing unemployment situation for Caymanians, according to Eric [...]
