October 27, 2021

iNews Briefs

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Cayman minister says no more duty cuts on fuel Marco Archer, Cayman Islands Minister of Finance, said last Friday (12) in the Legislative Assembly government could not afford to reduce the duty on fuel any further than the cuts in this year’s budget. The minister said he had to be prudent and the economy was […]

How the ‘PayPal Mafia’ redefined success in Silicon Valley

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By Conner Forrest From Tech Republic The “PayPal Mafia” is no mafia at all. It’s a diaspora. “Basically, we were kicked out of our homeland and they burned down our temple. So, we were scattered to the four corners of the globe, and we had to make new homes.” That’s how David Sacks, former COO […]

Reinsurance firm [in Cayman Islands] with Tampa ties prepares to go public

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By Margie Manning from Tampa Bay Business Journal Oxbridge RE Holdings Limited plans to raise up to $25.5 million in an initial public offering. Oxbridge, based in the Cayman Islands, is a reinsurance firm with close ties to Tampa. For the current reinsurance policy year, the company expects to derive substantially all of its business […]

2-Power project win for Malaysia’s 1MDB bolsters IPO prospects

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By Yantoultra Ngui and Saeed Azhar KUALA LUMPUR/SINGAPORE, Feb 28 (Reuters) – A planned $2 billion IPO of Malaysia Development Bhd’s (1MDB) power assets got a major boost on Friday after the sovereign wealth fund won a closely contested government tender to build a power plant. The news came as sources said that 1MDB, which […]

Law firm can’t shake claims it aided $6M Facebook IPO scam

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From Law360 Law360, Los Angeles — A California judge refused Thursday to toss claims that Miller Barondess LLP helped a con man launder $5.8 million stolen from investors through a bogus deal to purchase pre-initial public offering shares of Facebook Inc. See related story: Con man had friends in legal places, firm says By Lorraine […]