Cayman Islands

Next  More regional expansion for Net News Monday, February 1, 2010 GEORGE TOWN, Cayman Islands -- As part of ongoing development within the Caribbean region, Cayman Net News has now launched its latest country-specific “Net News” website -- Haiti Net News -- in order to provide more in-depth news, information and commentary in relation to that country. read more... Cayman Islands may be Wall Street's scapegoat, says economist Tuesday, January 26, 2010 GEORGE TOWN, Cayman Islands (Reuters) -- The Cayman Islands and other offshore money centers could become scapegoats unless regulation is stepped up on Wall Street's biggest banks to avert another potential financial crisis, a former IMF chief economist  warned. "If they can't deal with the underlying real problems... read more... Quake rattles buildings, nerves in the Cayman Islands Wednesday, January 20, 2010 GEORGE TOWN, Cayman Islands (Reuters) -- Buildings and homes shook in the Cayman Islands on Tuesday as a 5.8 magnitude earthquake rattled the Caribbean hedge fund centre, but there were no reports of injury or damage. The earthquake hit 30 miles southeast of Grand Cayman at 9:23 am. read more... Cayman Islands divers trained to fight lionfish invasion Wednesday, January 6, 2010 GEORGE TOWN, Cayman Islands (Reuters) -- More than 300 scuba divers have been certified to catch red lionfish in a race to prevent the invasive and voracious species from consuming all the young and small fish on the Cayman Islands' famous corals reefs. Licensed fishermen also collect them. read more... Cayman Islands deals deepened global financial crisis Saturday, January 2, 2010 NEW YORK, USA (MCT) -- When financial titan Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that many of the deals were so risky that they could end up losing hundreds of millions of dollars on them. read more... Cayman woos investors with immigration incentives Wednesday, December 30, 2009 GEORGE TOWN, Cayman Islands (Reuters) -- The Cayman Islands are promising immigration incentives to keep foreign firms from quitting the Caribbean hedge fund hub, but locals want a bigger share of jobs. The financial services sector accounts for about 55 percent of the Cayman economy. read more... IMF releases Cayman Islands assessment report Thursday, December 10, 2009 GEORGE TOWN, Cayman Islands -- The International Monetary Fund has released the report of its 2009 assessment of the supervision and regulation of the Cayman Islands financial sector, noting the “substantial progress” in implementing the recommendations arising from the Fund’s 2003 assessment. read more... British minister meets Caribbean overseas territories leaders Wednesday, December 9, 2009 LONDON, England -- Minister responsible for the Overseas Territories, Chris Bryant, on Monday met elected leaders from five British Overseas Territories (OTs) in the Caribbean who are in London for the annual Overseas Territories Consultative Council (OTCC) on 8 and 9 December. read more... HSBC Bank underwrites historic Cayman Islands bond issue Monday, December 7, 2009 GEORGE TOWN, Cayman Islands -- HSBC Bank recently acted as Sole Book Runner on the first-ever public bond issue for the Cayman Islands government. The Cayman Islands government’s USD312 million, 5.95 per cent notes closed on 24 November 2009 and are due November 2019. read more... Cayman Islands governor departs Thursday, December 3, 2009 GEORGE TOWN, Cayman, Islands (GIS) -- While acknowledging that he and elected officials did not always see eye to eye, outgoing Governor Stuart Jack said he was leaving the Cayman Islands “with many fond memories in my heart.” Jack and his wife, Mariko left Grand Cayman on Wednesday afternoon. read more... Regional partnership to reduce the cost of drugs and medical supplies in the Caribbean Wednesday, December 2, 2009 GEORGE TOWN, Cayman Islands -- EagleMount, a Cayman Islands-based, regional firm specialising in healthcare government relations, strategic advisory and project management has been retained by Pharma Wholesale, Inc. of Miami as market development advisor for the Caribbean Basin. read more... Cayman hedge fund chairman says fraud allegations 'unfounded' Thursday, November 19, 2009 LONDON, England (Bloomberg) -- Alberto Micalizzi, founder of the hedge fund firm Dynamic Decisions Capital Management, said allegations that he invested in worthless bonds are unfounded and investors will recover close to 100 percent. The firm’s main hedge fund is being liquidated in the Cayman Islands read more... New York welcomes Cayman Islands financial services community Thursday, November 19, 2009 New York,USA -- Senior members of the Cayman Islands government, led by the Premier, McKeeva Bush, met with several leaders in the financial services industry at a briefing held in New York on Monday. The event was a follow-up to a similar briefing held a week earlier in London. read more... Cayman Islands hosts CFATF/FATF joint workshop Wednesday, November 18, 2009 GEORGE TOWN, Cayman Islands -- The Cayman Islands government is hosting a three-day joint typologies meeting featuring policy makers and experts from the Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force (FATF), from 18-20 November 2009 in Grand Cayman. read more... UK probes Cayman Islands hedge fund Friday, November 13, 2009 LONDON, England (Reuters) -- The founder of hedge fund manager Dynamic Decisions denied its main fund has been involved in any wrongdoing as Britain's Serious Fraud Office opened an investigation following investor complaints. The SFO's probe comes as a further blow to the Cayman Islands. read more... Cayman Islands government exploring renewable energy Thursday, November 12, 2009 GEORGE TOWN, Cayman islands (GIS) -- The Cayman Islands government intends to pursue renewable energy as a means of diversifying the Islands’ generating sources, reducing energy bills, and minimising impact on the environment. The forum was also aimed at exploring and encouraging energy conservation read more... British opposition party pledges support for the Cayman Islands Thursday, November 12, 2009 GEORGE TOWN, Cayman Islands -- A Conservative government would immediately rebuild the UK’s relationship with the Cayman Islands and Britain’s other overseas territories. This was the welcome news conveyed to Cayman Islands Premier McKeeva Bush at a meeting in London on Tuesday. read more... Cayman Islands seeks hedge fund families in growth push Wednesday, November 11, 2009 LONDON, England (Reuters) -- The Cayman Islands hope more hedge fund managers and their families will move to the off-shore centre as it seeks to boost tax revenues, the Caribbean territory's premier told Reuters. The British overseas territory wants to attract more financial firms  as it struggles with a budget deficit. read more... Hedge funds move from offshore centres Saturday, November 7, 2009 GENEVA, Switzerland (Reuters) -- Luxembourg could draw hedge funds in their droves as European investors retreat from offshore vehicles and seek to rein in liquidity and counterparty risk in the post-Madoff, post-Lehman environment. Managers in Europe's $300 billion hedge fund industry are eyeing Luxembourg. read more... Delaware beats Cayman as most secretive financial centre Tuesday, November 3, 2009 WASHINGTON, USA (Reuters) -- The US state of Delaware beats all other international financial centres, including the Cayman Islands, in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday. The survey of 60 jurisdictions found Delaware coming in first. read more... Cayman Islands and Netherlands Antilles sign tax agreement Tuesday, November 3, 2009 GEORGE TOWN, Cayman Islands-- The Cayman Islands signed a Tax Information Exchange Agreement (TIEA) with the Netherlands Antilles on 29 October 2009 whilst attending the CFATF Plenary, held in Curacao. The agreement is the fourteenth TIEA signed by the Cayman Islands. read more... Britain's offshore havens asked to bump up taxes Friday, October 30, 2009 LONDON, England (Reuters) -- Britain's overseas financial havens should bump up taxes to wean their economies off credit crunch hit banking, insurance and funds services, a government commissioned report said on Thursday. The UK government signalled its backing for the report. read more... US congressional panel backs new rules for offshore hedge funds Wednesday, October 28, 2009 WASHINGTON, USA (Reuters) -- US regulators would be able to peer into the secretive world of hedge funds and private equity funds under a bill passed by a key congressional committee. The House Financial Services Committee voted 67-1 to require advisers to hedge funds, private equity and offshore funds... read more... Cayman Islands woo French business with tax accord Thursday, October 15, 2009 GEORGE TOWN, Cayman Islands (Reuters) -- The Cayman Islands has signed a tax information agreement with France that it said on Wednesday it hoped would attract French financial institutions and companies. It was the 13th bilateral Tax Information Exchange Agreement (TIEA) signed by the Cayman Islands. read more... Incoming Cayman Islands governor defends British takeover of Turks and Caicos Monday, September 28, 2009 BRIDGETOWN, Barbados -- The incoming governor of the Cayman Islands, Duncan Taylor, has said that Britain’s move partially to suspend the constitution of the Turks and Caicos Islands (TCI) and assume full administrative control is not a backward step, the Caribbean Media Corporation (CMC) has reported. read more... Caribbean tax havens talk back against G20 'finger pointing' Saturday, September 26, 2009 GEORGE TOWN, Cayman Islands (Reuters) -- Caribbean and Atlantic offshore finance centers are hitting back against attempts to portray them as shady tax havens and say world leaders are making them scapegoats for the global downturn. "It's not fair," said McKeeva Bush, political leader of the Cayman Islands. read more... IRS tells auditors to look at loans by offshore funds Friday, September 25, 2009 WASHINGTON, USA (Bloomberg) -- The Internal Revenue Service told its auditors in Manhattan to develop cases against offshore hedge funds and foreign companies it said are trying to avoid taxes on income from loans they make in the US. Most hedge funds set up offshore corporations in the Cayman Islands. read more... IRS moves to keep companies from avoiding taxes by moving to Cayman and Bermuda Saturday, September 19, 2009 WASHINGTON, USA (Bloomberg) -- The Internal Revenue Service is moving to bolster enforcement of a 2004 law that bars companies from avoiding US taxes by moving their headquarters offshore to Bermuda and the Cayman Islands. The action is the IRS’s latest effort to stop practices that let US companies avoid taxes. read more... Nevis appoints health care consultants Thursday, September 17, 2009 CHARLESTOWN, Nevis -- The Ministry of Health of the Nevis Island Administration has appointed Eaglemount Ltd of the Cayman Islands as special strategic advisor to Hensley Daniel, Deputy Premier and Minister of Health. Eaglemount specialises in government relations and strategic healthcare advisory services. read more... Tax evaders with offshore assets rush to beat amnesty deadline Wednesday, September 16, 2009 WASHINGTON, USA (Reuters) -- Rich Americans who have evaded taxes by hiding foreign holdings in tax havens such as Switzerland and the Cayman Islands have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught. read more... British American Insurance Cayman operations placed into controllership Wednesday, September 16, 2009 GEORGE TOWN, Cayman Islands -- The Cayman Islands Monetary Authority (CIMA) on Friday appointed controllers to manage the affairs of British American Insurance Company Limited’s (BAICO) Cayman Islands operations. The controllers are Messrs Simon Whicker and Kris Beighton of KPMG. read more... Cayman Islands on OECD Global Forum Steering Group Tuesday, September 15, 2009 GEORGE TOWN, Cayman Islands -- The Cayman Islands has been elected as a member of the Organisation for Economic Cooperation and Development’s (OECD) Steering Group at the recent Global Forum on Transparency and Exchange of Information held in Mexico. read more... Caymans Islands revenue plan seeks to plug deficit hole Tuesday, September 15, 2009 GEORGE TOWN, Cayman Islands (Reuters) -- The Cayman Islands government will present a revenue plan to Britain this week to seek approval for the British overseas territory to borrow $372 million to help plug a widening government operating deficit. The Cayman Islands, a beach-lined Caribbean territory... read more... Cayman Islands says competition prompts UK stance Friday, September 4, 2009 LONDON, England (Reuters) -- The UK government's move to block loans to the Cayman Islands is designed to disadvantage a competitive rivalry in financial services at a time when the UK sector itself is under threat, said the head of the islands' regulatory agency on Thursday. read more... Moody's maintains stable outlook on the Cayman Islands Friday, September 4, 2009 NEW YORK, USA -- Moody’s is carefully monitoring developments in the Cayman Islands and their possible implications for the government’s Aa3 ratings. The outlook on the ratings remains stable. The government is now looking into a number of expenditure and revenue measures to address concerns. read more... Madoff trustee says Cayman and Bermuda funds ignored lawsuits Friday, August 21, 2009 NEW YORK, USA (Bloomberg) -- The trustee liquidating Bernard Madoff’s business told a judge in the US Bankruptcy Court in Manhattan that two Cayman Islands and Bermuda hedge-fund firms accused of profiting from the fraud are ignoring his lawsuits seeking a total of $230.7 million in damages. read more... Cayman Islands judge suspended following tribunal report Friday, August 21, 2009 GEORGE TOWN, Cayman Islands -- A Cayman Islands judge has been suspended following a report by a judicial tribunal appointed to inquire into allegations of misbehaviour against her, and the case has now been referred to the Privy Council. A statement issued on Thursday by Cayman Islands governor... read more... British Virgin Islands, Cayman on tax 'white list' Friday, August 14, 2009 GEORGE TOWN, Grand Cayman -- The British Virgin Islands and the Cayman Islands have joined the global "white list" of countries using internationally recognized tax standards, the Organization for Economic Cooperation and Development said on Friday. The OECD said the British Virgin Islands and the Cayman Islands... read more... Cayman court freezes $9.2 billion of Saad assets Saturday, August 1, 2009 LONDON, England (Reuters) -- A Cayman Islands court has frozen $9.2 billion of assets belonging to Saad Group, the Saudi Arabian investment firm at the centre of a financial scandal, including some of its equity stakes outside the Gulf. Shares bought by Saad also include stakes in Petra Diamond. read more... Cayman Islands financial sector contemplates major changes Friday, July 31, 2009 GEORGE TOWN, Cayman Islands -- Advisory committees to attract fund managers and international businesses to the Cayman Islands will have to wait until October to begin their work, and may need to contemplate major changes to achieve success. Global competition for could force a fundamental reassessment. read more... Next

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