Cayman Net News Online: Bringing the Cayman Islands to the World

News from the Cayman Islands for

The concept of taxing financial transactions is gathering international support. A letter to the editor of London’s Financial Times suggests that a financial transaction tax could raise new sums of money for development. However, some local commentators are resistant to introducing such a tax in the Cayman Islands. The concept of a levy on financial transactions is often referred to as a “Tobin tax,” after James Tobin... read more...

Three weeks after escaping police custody, Fugitive Dainian Cecil Henry was convicted in absentia earlier this week on drug related charges, police have confirmed. Mr Henry was found guilty by a magistrate’s court of possessing with intent to supply cocaine. He was however not in court to defend himself and neither did he make efforts to contact an attorney while in hiding. read more...

The Cayman Islands government will pursue renewable energy as a means of diversifying the Islands’ generating sources, reducing energy bills, and minimizing impact on the environment. “The government is keen on pushing forward a greener more environmentally-friendly Cayman that uses renewable energy more widely,” notes Deputy Premier and Minister of District Administration, Works and Gender Affairs, the... read more...

Former Chief Whip of UK’s Conservative Party, David Maclean has promised that his party, if elected as government, would immediately rebuild the UK’s relationship with the Cayman Islands and Britain’s other overseas territories. Mr Maclean was addressing Premier McKeeva Bush at a meeting in The Palace of Westminster organised by Cayman Finance on Tuesday November 11. A delegation of influential Conservative MPs, also known as Tories... read more...

The Family Resource Centre recently hosted a Domestic Violence Intervention Training Programme (DVITP) session for police officers, social workers, and other frontline professionals. The three-day programme held from 19-21 October was aimed at enhancing local professionals’ ability to deal with domestic violence issues. Sixteen persons participated from the Royal Cayman Islands Police Service (RCIPS), the Department of Children... read more...

Chief Immigration Officer Linda Evans has confirmed that the Department of Immigration is currently looking at all policies of the immigration law to see what changes are required, as prescribed by the government. Premier McKeeva Bush, at a press briefing last week Wednesday, said that proposals were in the pipeline to improve administrative procedures regarding work permit applications. read more...

Demonstrating the commitment of the business community to the continued growth and development of UCCI’s students, the Chartered Financial Analysts (CFA) Society of the Cayman Islands recently donated important reference materials to the University College of the Cayman Islands. The materials include the curriculum and study guides for all 3 levels of the CFA Examinations. Commenting on the donation, Arthur Dzaghgouni... read more...

Members of Rotary Central welcomed local students to their weekly meeting last week to hear about their experiences at the Junior Achievement Exchange (JAX) conference, which was held in Hamilton, Ontario in August of this year. Every year Rotary Central sponsors local students to attend the JAX (formerly CANJAC) conference, which is a major leadership event for youth. At last week’s meeting Rotarians heard from students... read more...

More than 60 members of London’s financial services community attended a ‘Cayman Islands Financial Services’ briefing in London on Monday to hear about incentives and programmes that will help more financial services firms locate in Cayman. “Our overall message is not just that we are open for business – that is nothing new – but that we are committing time and resources to attract a greater share of the global... read more...

Medical authorities are concerned about the delay in the arrival of the H1N1 vaccines in the Cayman Islands on the brink of the flu season. No definite delivery date has been set and the Ministry of Health is worried that the Islands may see a second wave of flu cases in the colder months of December and January, if the vaccine does not arrive in time. The UK had agreed earlier this year to supply the Cayman Islands with the necessary... read more...

Newly appointed Premier, Hon. McKeeva Bush, in an interview with overseas news agency Reuters, said that he hopes more hedge fund managers and their families would move to the Cayman Islands. During the interview with Reuters, Mr Bush said that the Cayman government will make it easier to secure work permits for family members and domestic staff of financial professionals looking to move here. read more...

Two days after his swearing in as the first Premier of the Cayman Islands, Hon. McKeeva Bush is away in Europe on government business. It is unclear, however, as to the extent of business he is conducting. UDP West Bay Member of the Legislative Assembly and Deputy Speaker, Cline Glidden said, “I can’t really say what countries Mr Bush will be visiting but I do know that his trip is finance related. read more...

His Excellency The Governor Stuart Jack has weighed in on the brewing controversy between Auditor General Dan Duguay and Premier McKeeva Bush on the process of awarding the development contracts for the George Town port. The Governor has expressed his support of Mr Duguay’s decision to examine the tendering process of the new cruise port development, stating that the AG has a legitimate right to examine projects of... read more...

A tragic car accident has claimed the life of 41-year-old Shella Carson Tatum Carter when his automobile ran off the road into a canal near Careenage Condos behind Grand Harbour. The accident occurred at approximately 4:45 pm on Friday 6 November. The Emergency Communications Centre 911 received a call that an automobile ran off the road into a canal near Careenage Condos behind Grand Harbour. read more...

As European investors retreat from offshore hedge funds and seek to rein in liquidity and counterparty risk in the post-Madoff, post-Lehman environment, the Cayman Islands, home to some 80 percent of the world’s around 10,000 hedge funds, could be a major loser according to a Reuters report. The jurisdiction prides itself on being the fifth largest financial services centre in the world but some analysts are saying... read more...

BAF Insurance Company (Cayman) Limited (BAF Cayman) has taken over the management of British American Insurance Company Limited (Cayman) (“BAICO Cayman”) following an agreement with the Controller-Managers from KPMG, Simon Whicker and Kris Beighton. BAF Cayman, which started operating formally on Thursday 5 November, noted that the original BAICO Cayman staff of 15 people would be retained. read more...

A parked car caught fire at the intersection of the bypass and Hirsch Road in Savannah, Newlands during the early morning hours of Wednesday, 5 November. There were no injuries. No one was in the vehicle at the time of the blaze and police are conducting investigations as to whether arson is a factor. Fiona Gallegos, Public Relations Officer Royal Cayman Islands Police Service (RCIPS) confirmed that the cause of the fire is currently... read more...

Minister of Education, Training and Employment, the Hon. Rolston Anglin has cited the importance of strengthening the connection between youth and seniors. He was representing Community Affairs and Housing Minister, the Hon. Mike Adam, MBE at a 24 October Older Persons Month weekend retreat reception at the Reef Resort in East End. The event was hosted by the Department of Children and Family Services (DCFS) with... read more...

The the launch of the 2010 CARIFTA Games was officially announced on Wednesday 4 November. Speaking during the official launch the Minister for Sports Hon Mark Scotland congratulated the Cayman Islands Athletic Association for winning the bid to host the games. “This speaks clearly of the high-level of confidence that the international sports governing bodies have in Cayman’s capacity to host such an important tournament. read more...

Five civil servants were honoured at The Governor’s Five-Star Award for Customer Service Excellence (FACE), Ceremony, which was held on Wednesday, 4 November, at Government House on West Bay Road. The awards recognise customer service excellence displayed by civil servants and were initiated by His Excellency, the Governor Stuart Jack CVO in 2007. This year’s winners are Deputy Chief Secretary, Franz Manderson... read more...

The crowd that lined the streets outside the Legislative Assembly building witnessed a significant moment in Cayman Islands history when Hon McKeeva Bush was sworn in as Premier, in a ceremony that marked the commencement of the nation’s new constitution on Friday, 6 November. The momentous occasion saw an assembly of government officials, visiting diginitaries from other overseas territories and CARICOM. read more...

Opposition Member of the Legislative Assembly (MLA) Alden McLaughlin on Monday hit out at the Leader of Government Business, Hon. McKeeva Bush, for bypassing the judiciary in administering funds allocated for legal aid. Speaking to the national council of the People’s Progressive Movement at the Cayman Islands Seafarers Association Hall on Monday, Mr McLaughlin referred to the action as a fiasco that would deny deserving cases legal aid. read more...

During a press conference Leader of Government Business McKeeva Bush reiterated Tobacco Law passed in October 2008 would finally take effect by the end of the year, and that public education campaign will be launched late November or early December. “While regrettable, this delay will allow us to get it right and does have the added benefit that residents and businesses now have ample time to get to know the provisions read more...

During a cabinet press briefing on Wednesday, the Leader of Government Business/Premier Designate, Hon. McKeeva Bush, hit back at Auditor General Dan Duguay, who has raised concerns about the port tendering process, accusing Mr Duguay of attemptingto undermine the project. “The Auditor General is a key figure, and he is working in conjunction with others to undermine the government’s attempt to move forward read more...

The Cayman National Cultural Foundation (CNCF) hosted their 25th Anniversary and the 2009 National Arts & Culture Awards titled ‘One White One Black’ in Honor of their founders, supporters and artists on 23 October at the Harquail Theatre. A special award presentation was made to Helen Harquail after whom the Harquail Theatre was named, as well as to Mr Oswell Rankine, for their contributions. read more...

Dart’s construction company DECCO has welcomed the news of having been selected to undertake the George Town Port redevelopment project that will see construction of a cruise berthing facility. Leader of Government Business Hon. McKeeva Bush confirmed weeklong speculations at press briefing Wednesday 4 November that locally-owned Dart Enterprises’ DECCO construction company has been has been selected read more...

In the seven weeks or so since the last Cayman Net News online poll on the topic, the government’s approval rating amongst readers appears to have declined significantly. Our latest poll asked the question “Do you approve or disapprove of the government’s performance to date?” and a total of 267 readers responded using internet devices located in the Cayman Islands. Of these, 119 readers (44.6 percent) indicated their approval. read more...

The Auditor General, Dan Duguay, is insisting that an audit will be conducted on the process of awarding the contract to develop a cruise ship berthing facility at the George Town port, based on government’s efforts to by-pass the Central Tendering Committee process and the proper process for awarding a contract may not have been followed. Instead of using a bidding process through the Central Tenders Committee... read more...