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Saturday, July 31, 2010

WASHINGTON, USA (AFP) -- US market regulators on Thursday accused two Texas businessmen in a huge insider trading scheme involving Cayman Islands trusts and companies, saying they reaped undisclosed gains of 550 million dollars. The Securities and Exchange Commission filed civil charges... read more...



Friday, July 30, 2010

GEORGE TOWN, Cayman Islands (GIS) -- In April 2008, complaints of misbehaviour relating to Justice Priya Levers, a judge of the Grand Court in the Cayman Islands, were brought to the attention of the then governor Stuart Jack. Having considered the complaints, the Governor appointed a tribunal. read more...



Thursday, July 29, 2010

Your support for the group calling itself “Business and Investors Against Tax Haven Abuse” necessitates this response. Your endorsement of that organization’s recent report well might lend credibility to statements that are in error and recommendations that are misguided. read more...



Friday, July 16, 2010

Caribbean Net News and the Caribbean region have lost recently a leader with vision, leadership and bold courage that is hard to emulate. I started a column some five years ago with Caribseek, but soon I was invited by Desmond Seales to contribute also to Caribbean Net News daily magazine of news... read more...



Friday, July 9, 2010

Desmond Seales was a visionary and pioneer. For he was in the vanguard not only of those who began publishing newspapers and magazines (as well as launching TV stations) in the Caribbean four decades ago, but also of those who began publishing news-oriented web sites on the Internet only a decade ago. read more...



Monday, July 5, 2010

GEORGE TOWN, Cayman Islands -- Net News publisher Desmond Seales, who underwent emergency heart surgery in Miami on 24 June, passed away on Saturday morning, 3 July. He was 71. Mr Seales had been ill with flu-like symptoms for several days prior to his air-lift to a Miami hospital late on Wednesday, 23 June. read more...



Friday, June 25, 2010

GEORGE TOWN, Cayman Islands (GIS) -- The Cayman Islands and Canada entered into a tax information exchange agreement (TIEA) following a signing ceremony held on Thursday in Grand Cayman. Premier McKeeva Bush signed the agreement on behalf of the Cayman Islands. read more...



Thursday, May 27, 2010

GEORGE TOWN, Cayman Islands -- The Cayman Islands and the government of Japan successfully concluded negotiations on a tax information exchange agreement following a meeting between the respective delegations held 13-14 May 2010 in London. In addition to terms under which tax information will be... read more...



Saturday, May 22, 2010

GEORGE TOWN, Cayman Islands -- Miles McPherson, the former US professional football player turned evangelist, and his team of almost 100 Miles Ahead volunteers from San Diego, California, have brought together communities in Grand Cayman in new and powerful ways through the Do Something World campaign. read more...



Wednesday, May 19, 2010

BRUSSELS, Belgium (AFP) -- Europe agreed the need for "strict" new curbs on the trillion-dollar hedge fund industry on Tuesday, despite stiff resistance from fledgling British finance minister George Osborne. EU finance ministers "agreed a mandate for negotiations with the European parliament". read more...



Monday, May 17, 2010

GEORGE TOWN, Cayman Islands -- Former reggae and dancehall star turned gospel musician Papa San believes gospel music is gaining in popularity in the Caribbean. Speaking on local Cayman television before rocking the island of Grand Cayman last night, Papa San said people are on fire for gospel music. read more...



Friday, May 14, 2010

GRAND CAYMAN, Cayman Islands -- An uplifting spirit of volunteerism has descended upon the Cayman Islands with the arrival this week of nearly 100 San Diego residents who are "doing something" for the people of the western Caribbean nation. The volunteers are part of the California-based Miles Ahead organization. read more...



Friday, May 14, 2010

GEORGE TOWN, Cayman Islands -- The Cayman Islands hosted representatives from Portugal on Thursday to sign a Tax Information Exchange Agreement (TIEA). The agreement was signed on behalf of the Cayman Islands by the Premier, McKeeva Bush, and by Professor Sérgio Vasques, on behalf of Portugal. read more...



Tuesday, May 4, 2010

MIAMI, USA (Reuters) -- A former private banker at Julius Baer in the Cayman Islands, who alleges the Swiss bank knowingly helped rich clients dodge taxes, said on Monday that US clients have long paid a premium for Swiss firms' tax advantages. Rudolf Elme told his story in public for the first time. read more...



Tuesday, May 4, 2010

GEORGE TOWN, Cayman Islands -- The Cayman Islands has signed a Tax Information Exchange Agreement (TIEA) with Aruba. The agreement, exchanged via courier, was considered legally binding following signature on 20 April 2010 by Cayman Islands Premier McKeeva Bush in his capacity as... read more...



Friday, April 23, 2010

GEORGE TOWN, Cayman Islands (Reuters) -- The Cayman Islands has brought in British police to tackle a rise in gang-related crime that business leaders fear could hurt the territory's image as a safe finance and tourism destination. Fourteen British officers arrived in the Caribbean hedge fund hub on Wednesday. read more...



Saturday, April 3, 2010

PARIS, France (AFP) -- French bank BNP Paribas announced Friday it has reached an agreement with Scotiabank to cede its wealth management business in the Bahamas, Panama and the Cayman Islands to the Canadian bank. The transaction will allow to make good on its pledge to withdraw from the jurisdictions. read more...



Thursday, April 1, 2010

WASHINGTON, USA -- The Cayman Islands signed its fifteenth tax information exchange agreement with Australia on Tuesday, during a ceremony held at the Australian embassy in Washington, DC. Premier McKeeva Bush was accompanied at the signing by three members of the Cayman Islands negotiating team. read more...



Saturday, March 27, 2010

GEORGE TOWN, Cayman Islands (Reuters) -- London is still pushing the Cayman Islands to impose direct taxation despite a report released this month warning it could put the hedge fund hub at a disadvantage to other international finance centers. In a letter sent to Cayman's Premier McKeeva Bush... read more...



Friday, March 26, 2010

GEORGE TOWN, Cayman Islands -- The Cayman Islands announced on Thursday that it will conclude a further 16 tax information exchange agreements (TIEAs) with several G-20 jurisdictions of economic significance to the country, in addition to the 14 TIEAs already in place. read more...



Saturday, March 20, 2010

GEORGE TOWN, Cayman Islands (Reuters) -- Cayman Islands leaders are welcoming a report released this week that says introducing direct taxation would put the Caribbean hedge fund hub at a disadvantage to other international finance centers. The islands are home to many of the world's hedge funds. read more...



Tuesday, March 16, 2010

GEORGE TOWN, Cayman Islands -- FirstCaribbean International Bank in the Cayman Islands responded swiftly to a hoax phone call received at 9:30am on Monday morning from an unknown caller claiming that a bomb had been placed in one of the bank’s branches. The bank implemented evacuation procedures. read more...



Tuesday, March 16, 2010

GEORGE TOWN, Cayman Islands -- Direct taxation has been ruled out for the Cayman Islands according to the findings of an independent economic commission published on Monday. In the fourth quarter of 2009, the British Foreign and Commonwealth Office requested that the Cayman Islands Government... read more...



Friday, February 26, 2010

GEORGE TOWN, Cayman Islands -- A report released this week claims that spending by the Cayman Islands government “is wholly out of line with its peers, having far higher levels of public spending than any other comparable jurisdiction,” whether by total spending or spending per head of population. read more...



Friday, February 26, 2010

LONDON, England (Reuters) - Hedge fund supervisors worldwide will require hedge funds to provide uniform data across jurisdictions from September in a bid to spot broader risks more quickly, a global regulatory body said on Thursday.  Hedge funds made heavy losses during the global financial crisis. read more...



Thursday, February 25, 2010

GEORGE TOWN, Cayman Islands -- In a recent press release, the Cayman Islands Tourism Association (CITA) slammed what it described as “the current dysfunctional experience” offered to cruise visitors as a frustrating first and last impression of Grand Cayman. At issue is the government’s inattention to the industry. read more...



Friday, February 19, 2010

GEORGE TOWN, Cayman Islands -- United America Indemnity Ltd has approved a plan to redomicile from the Cayman Islands to Ireland. The company's shareholders will be asked to vote in favour of completing the reorganisation proposal at a special shareholders meeting. If the proposal is accepted, the company will... read more...



Thursday, February 18, 2010

WELLINGTON, New Zealand (Bloomberg) -- New Zealand is preparing a bid to become a home for international investment funds, rivaling Luxembourg, Dublin and the Cayman Islands. Officials are studying ways of using New Zealand’s time- zone advantage and its tax and regulatory environment. read more...



Wednesday, February 17, 2010

GEORGE TOWN, Cayman Islands -- At about 8.25 pm on Monday, two men approached a car that was parked within the forecourt of a gas station in Grand Cayman, the largest of the three Cayman Islands. One of the men was armed with a firearm and began shooting at the parked car. read more...



Tuesday, February 16, 2010

LONDON, England (Reuters) -- Best-selling crime writer Dick Francis, who drew on his experience as a successful steeplechase jockey for his racing thrillers, died Sunday aged 89 at his home in the Cayman Islands, his publicist said. Francis rode more than 350 winners and was champion jockey. read more...



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...



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...



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...



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...



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...



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...



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...



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...



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...



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...



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