Michael Klein

Michael Klein, Photo-Journalist
Michael Klein

Editor – Business

T: 345-815-0064
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ARTICLES BY MICHAEL KLEIN

Explainer: How the governor can assent to the Domestic Partnership Bill

Governor Martyn Roper is using his powers under Section 81 of the Constitution to assent to the recently defeated Domestic Partnership Bill. Section 81 details the governor’s reserved power.

Strong hedge fund performance in July

July has marked one of the best performances on record for the hedge fund industry.

Business in brief

AM Best affirms credit rating of Cayman First Insurance AM Best has affirmed the Long-Term Issuer Credit Ratings of “a-” of Cayman First Insurance, the property/casualty...

Leading indicators strengthen after crisis in all major economies

Composite leading indicators for July in OECD countries continued to strengthen from the COVID-19-crisis lows across all major economies. However, the numbers remain below long-term trends and at levels lower than those recorded prior to the coronavirus outbreak.

Record merchandise imports in 2019

The Cayman Islands imported a record $1.18 billion worth of goods in 2019. The 13.5% increase over the previous year was driven by both non-petroleum and petroleum related imports, the Economics and Statistics Office reported.

Close to 11,200 private funds register with CIMA

Almost 11,200 private funds have registered with the Cayman Islands Monetary Authority under the Private Funds Law passed in February of this year. More than 4,300 private funds registered in the last week alone before the 7 Aug. deadline.

Should Cayman offer a COVID safe haven for remote workers?

Bermuda and Barbados have moved to offer new temporary residency models to attract remote workers to their shores and stimulate economic activity amid the global COVID-19 pandemic.

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.

This week