September 18, 2018

Archives for February 23, 2017

Oceana Bal Harbour penthouse sells to Cayman Islands buyer for $26M

By Katherine Kallergis From The Real Deal The 9,371-square-foot unit sold for $2,721 per square foot The first of two penthouses to go under contract at Oceana Bal Harbour has closed for $25.5 million. Records show UPH01S LLC purchased upper penthouse unit 2801 at the luxury condo development, at 10201 Collins Avenue. The Miami-based company lists Ibericlake […]

Cayman Islands: Economic Overview (From the Minister of Financial and Economic Development)

Article by Hon. Marco Archer From Cayman Finance SUSTAINED RECOVERY The Cayman economy has been on a steady upward trajectory in recent years: in 2011-2015, GDP growth averaged 1.7 percent, slightly higher than the potential GDP growth of 1.6 percent. The past two years have seen faster growth of 2.4 percent and 2.0 percent for […]

46 students graduate from Cayman Islands International College

Forty-six students from the International College of the Cayman Islands received degrees at a commencement ceremony at The Ritz-Carlton on Feb. 9. “This class is really phenomenal. These graduates achieved academically. They are professionally polished. They are critical thinkers. They have demonstrated a commitment to service. These are the career oriented values that employers all […]

The Editor Speaks: Not all gloom at Turtle Farm (now Centre)

The Cayman Islands Turtle Farm continues to lose money. This time it was approx. $6M in the red. Deputy Premier Moses Kirkconnell said approx. two thirds of that figure – $4.5M – was due to repayment of a loan. The rest was to cover operating losses. The loan should be settled in 2019 so we […]

OFREG Enforcement Advisory Internet “WiFi” Hotspots in Cayman Islands

From OfReg Provision of access to the internet by WiFi Hotspot for a fee or other commercial benefit without a licence is an offence.  OfReg will begin taking enforcement action against any person or businesses continuing to operate without a licence, which could result in a conviction, rendering a person liable to a fine of […]

Cayman Islands artist opens art studio in Cayman Brac

From Gordon Solomon Dear friends and family – art lovers! RE: Grand Opening – Solomon Studio It is with much pride and honor that I extend an invitation to you to attend the grand opening of my fine art studio and creative space, ‘Solomon Studio’. As a young man, growing up in the district of […]

Cayman Islands ORIA expansion project on track

Grand Cayman, Cayman Islands (23 February 2017) The Cayman Islands Airports Authority (CIAA) has reached the quarter mark with the Owen Roberts International Airport’s terminal renovation and expansion. The project will almost triple the current size of the airport to easily accommodate 2.5 million passengers per year. The existing terminal is only built to handle […]

Cayman Islands Investment Funds in Europe

Article by Henry Smith Maples and Calder In July 2016 European politics were profoundly shaken when UK voters unexpectedly opted by a narrow margin in a referendum for the UK to “Brexit” the EU. It is too early to say whether a Brexit means the UK will completely leave the EU or retain some sort […]

Cayman Islands’ Off The Beaten Track Ultra-Marathon just around the corner

The 8th annual Off The Beaten Track 50k ultra-marathon and relay will again be taking runners off road thought the trails, brush, beach and back roads of Cayman. Taking place on Sunday February 26th, 2017, this race continues to grow each year in numbers and excitement and this year will be raising funds for their […]

Nairobi Wreck Removal Convention extended to the Cayman Islands – Implications for owners and masters

Last Updated: 23 February 2017 Article by John Wolf, Damien Magee, Jennifer Reilly and Peter De Vere From Campbells On 7 February 2017 the Nairobi International Convention on the Removal of Wrecks, 2007 (the “Nairobi Convention”) was given legal effect in the Cayman Islands through the Merchant Shipping (Wreck Removal Convention) Regulations 2017 (the “Regulations”). […]