Issue No. 846 Monday, 30 May 2005

Companies Grow

Recently released statistics reveal that new registered companies in the Cayman Islands grew 23 percent in 2004 and the statistics signal a healthy economy and a growth in international business in spite of interruptions caused by Hurricane Ivan, according to financial industry experts.  Wayne Panton, a partner with local law firm Walkers, said the high growth in companies is really welcome news... read more...

Preparing for a crisis

With individuals and corporations still recovering nine months after Hurricane Ivan, the appearance of tropical storm Adrian was a timely reminder that hurricane season is upon the Islands again. A new course designed by Deloitte on crisis management is said to provide a foundation for building a solid crisis management and disaster recovery plan according to Deloitte Enterprise Risk Services... read more...

Sharing financial management reform with the Caribbean

It took five years for Government to implement open-based budgeting and accrual accounting as part of an intensive financial reform initiative. Numerous countries across the Caribbean however are now looking at the Cayman Islands model as they consider budgeting and accounting reform.  As leaders in the region, the Government hosted a three-day Financial Management Reform workshop outlining the process... read more...

Doctors contest fee splitting with HSA

A number of private doctors have reported receiving renewal of hospital privileges from the Health Services Authority (HSA), which require them to pay a percentage of their professional fee to the George Town Hospital if they want to continue treating patients there.  This practice is called ‘fee splitting,’ which according to Dr Robert Glatz, “is inappropriate in the healthcare industry.”... read more...

Power company seeking ways not to hit customers

CUC has announced its un-audited financial results for the year-end 2005. The company submitted to the Cayman Islands Government its Interim Return containing its year-end 2005 unaudited results.  The company noted that under its current Licence, it is entitled to impose a nine percent rate increase from 1 August this year... read more...

Person of the Day - Terry Carson

Accounting has been good to Terry Carson, having lived in Bermuda for ten years before coming to work at Grant Thornton three years ago. But wherever he works, Mr Carson fits training into his schedule.  “Teaching a course is a nice chance to do something people-oriented. I learn something new from my students in every course,” he said.  Originally from Canada, Mr Carson will be celebrating his 30th wedding anniversary... read more...

OTHER NEWS

• Butterfield Bank customers clock up six million miles
• Farewell banquet held to honour First Elder’
• Firearms arrest
• New Minister gets down to business
• Police drug operation
• Region-wide texting coming soon
• Toastmasters visit Cable and Wireless building
• Local notices and information