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Concerns over Cayman Islands Consolidated Water deal with Npdevco

BISX-listed Consolidated Water yesterday said its $14 million joint venture water supply deal with New Providence Development Company (NPDevCo) would ultimately supply “everything bar Albany” west of Lynden Pindling International Airport (LPIA), although not everyone is happy with their 25-year…

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Alibaba’s “Scheme” to seek sanction by Cayman Islands Grand Court

Alibaba Group Holding Limited (“Alibaba Group”) and Alibaba.com Limited jointly announced that the proposal for the privatisation of Alibaba.com by way of a scheme of arrangement (“Scheme”) has been approved by a sufficient majority of the independent shareholders of Alibaba.com…

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Statement by Premier and Minister of Finance Dr. the Honourable D. Orlando Smith, OBE

Statement by Premier and Minister of Finance Dr. the Honourable D. Orlando Smith, OBE on behalf of: the British Virgin Islands, Anguilla, the Cayman Islands, Montserrat and the Turks and Caicos Islands 42nd annual meeting of the board of governors…

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Turner’s Classic Movies (TCM) cruise coming to Grand Cayman

With the unprecedented success of the 2011 cruise, Turner’s Classic Movies (TCM) have announced a second voyage slated to depart from Miami on January 21, 2013. During the six-day voyage, the Celebrity Constellation will make its way from Florida to…

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Spain’s Bankia asks for $24B in state aid

(AP) — Spain’s troubled bank, Bankia, asked the Spanish government for €19 billion ($23.8 billion) in financial support on Friday, the day that a leading credit rating agency downgraded it to junk status. Jose Ignacio Goirigolzarri, the bank’s president, said…

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Cayman Islands Auditor General attends regional conference in Jamaica

The Auditor General of the Cayman Islands, Alastair Swarbrick, recently attended a meeting of the Caribbean Organization of Supreme Audit Institutions (CAROSAI). The meeting was held in Kingston, Jamaica from May 7 to 9 with the other twenty-one Auditors General…

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Moody’s downgrades CDB

The US based rating agency, Moody Investors Services has downgraded the credit ratings of the Barbados-based Caribbean Development Bank (CDB) by one notch from Aaa to Aa1. CDB president Dr. Warren Smith told the bank’s annual board of governors meeting…

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Question raised on Cayman Islands Iranian securities fund

In a story posted by Cliff Burns on EXPORTLAWBLOG on May 23 he asked the question, “Are There Any Limits Remaining on OFAC Jurisdiction over Foreigners?” In today’s civil penalty releases, the Office of Foreign Assets Control (“OFAC”) announced a…

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Grand Cayman based Consolidated Water Co. Ltd. to expand retail water operations with Bahamas Joint Venture

Consolidated Water Co. Ltd. (NASDAQ: CWCO), which develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, today announced that it has formed a…

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1000 Man March Outreach launches website

The organisers of the 1000 Man March outreach launched a new website on Friday, May 11th 2012.  The Board gathered at the National Gallery with invited guests and sponsors for the unveiling and presentation of the site. Mr. Phil Jackson,…