Michael Klein

Michael Klein, Photo-Journalist
Michael Klein

Editor – Business

T: 345-815-0064
E: [email protected]

ARTICLES BY MICHAEL KLEIN

Health City parent company posts quarterly loss

Indian hospital group Narayana Health, parent company of Health City Cayman Islands, reported a consolidated net loss of INR1.2 billion (US$16.0 million) in second-quarter 2020 compared with net profit of INR300.2 million (US$4.05 million) in the same quarter last year.

WORC addresses jobs portal ‘teething problems’

Workforce Opportunities and Residency Cayman’s new jobs portal has been struggling with reliability and accessibility issues since its introduction earlier this year. Wesley Howell, chief officer in the Ministry of Employment and Border Control said, so far, the portal had not been well received by employers.

No new COVID-19 cases

Cayman continued its three-week run of all negative COVID-19 tests on Tuesday.

Bermuda, Barbados launch digital nomad visas

Bermuda and Barbados have launched one-year residence options for remote workers, offering an alternative work environment during the COVID-19 pandemic

OECD assesses Cayman’s process to resolve double-taxation disputes

Although the Cayman Islands has no direct taxation, the OECD has released a peer=review report that evaluates Cayman’s efforts to implement BEPS Action 14, which aims to improve the resolution of tax-related disputes between jurisdictions.

Challenging year for Financial Reporting Authority

The Financial Reporting Authority faced a particularly challenging year in 2019 following a 22% increase in suspicious activity reports, staff resignations and the ongoing demands of the Caribbean Action Task Force anti-money laundering evaluation process.

OfReg lacks legal resources to effectively regulate telecoms

Utility regulator OfReg lacks the legal expertise to address the controversies and challenges around infrastructure sharing in the telecommunications industry, the Public Accounts Committee heard last week.

Business in brief

Cartan Group LLC has hired Benjamin Marler as the company continues its expansion.

Harbour Centre sells for $10.7 million

Jamaica Stock Exchange-listed Kingston Properties Limited has acquired the Harbour Centre, a multi-story office building on North Church Street in George Town, for US$10.7...

Healthcare, judicial costs require additional government funding

Government’s decision to pay full health insurance premiums to CINICO has resulted in the need for additional funds for the budget years 2018 and 2019.

CUC pushing for utility-scale solar energy

Renewables in the form of large-scale solar plants should be at the centre of Cayman's energy mix of the future, according to electricity provider Caribbean Utilities Company.

MLA canvasses voters ahead of Domestic Partnership Bill

MLA Kenneth Bryan held a snap poll at the Constitution Hall on Saturday to gauge whether his George Town Central constituents want him to...

Government eases outbound travel restrictions

Residents and visitors who want to leave the Cayman Islands on Cayman Airways or charter flights can now make their travel arrangements directly with the carrier and no longer through Travel Time.

Wholesalers defend fuel pricing in Public Accounts Committee

Fuel suppliers have defended their pricing before and during the COVID-19 pandemic, stating that wholesale margins are slim and high local costs are largely...

Cayman Tech City announces ‘Launch Labs’ initiative

Cayman Enterprise City’s Cayman Tech City special economic zone and the utility regulator OfReg are partnering in a new programme designed for entrepreneurs and innovators to test new technology projects, products and services.

Saffery Champness launches Cayman trust and corporate services

Saffery Champness Registered Fiduciaries has announced the launch of a new offering in the Cayman Islands. Saffery Trustee Company (Cayman) Limited (STCCL) will provide Cayman...

Compass survey: Virus led to financial and health anxiety

Most Cayman residents worried about health, money, jobs or the mental side effects of the shelter-in-place and curfew restrictions. Results from an online survey...

Lawmakers pass six financial services bills

Government and opposition members of the Legislative Assembly approved changes to the six financial services laws on Wednesday.

Government clarifies scope of Private Funds Law

In an effort to take the Cayman Islands off the EU tax blacklist, government introduced last-minute, ungazetted changes to the Private Funds Law, on Wednesday.

Royalty Fidelity apologises for pension withdrawal delays

All Fidelity Pension Plan members who successfully applied on or before 29 May for an emergency withdrawal from their pension accounts have now been processed for payment, according to RF Group. 

This week