Michael Klein

Michael Klein, Photo-Journalist
Michael Klein

Editor – Business

 

T: 345-815-0064
E: [email protected]

ARTICLES BY MICHAEL KLEIN

Budget breakdown: $20M prison upgrade among key spending plans

Government has announced plans to spend nearly $1.5 billion dollars over the next two years to support its plans and programmes. In a special feature, we analyse where that money comes from and where it goes.

Number of work permits exceeds 30,000

It may be one explanation for the escalating traffic problems and for higher rents. Cayman’s work permit population has increased by more than 3,000...

Caribbean tourism grows at twice the global average

Tourist arrivals to the Caribbean increased by 9.7% during the first half of 2019 over the same period last year, according to the Caribbean...

Ombudsman issues guidance on data protection penalties

The ombudsman has issued a Guidance on Monetary Penalty Orders after consultation with Cabinet. The penalties are required under the Data Protection Law (DPL), which...

CIBC sells majority stake in FirstCaribbean to GNB

Canadian Imperial Bank of Commerce (CIBC) has reached an agreement to sell a controlling stake in its Caribbean entity FirstCaribbean International Bank to GNB...

Business in brief

Cayman delegation attends Florida Caribbean Cruise Association conference A Cayman Islands delegation took part in the 26th Annual Florida Caribbean Cruise Association (FCCA) Cruise...

Government presents record-size budget

Finance Minister Roy McTaggart presented a two-year budget on Friday that will exceed $1.6 billion in government revenue and not require new debt nor impose new taxes and fees on the public.

CUC: Hot weather brings record electricity demand

Higher than average temperatures in the third quarter of 2019 and a corresponding increase in air conditioning usage have pushed Caribbean Utilities Company’s sales...

Butterfield unveils new corporate look

Butterfield is rebranding the identity for all Butterfield Group companies with a new logo that will feature a modernised version of the wyvern, a...

ZEDRA reaches agreement to acquire LJ Fiduciary

Trust and fund service group ZEDRA announced the acquisition of LJ Fiduciary, from investment firm Alvarium. LJ Fiduciary will be rebranded and merged into...

Blackbeard’s rebrands and prepares new flagship store

Liquor retailer Blackbeard’s has rebranded, introducing a new logo for its chain of stores, while announcing a new store planned for Camana Bay.

Business in brief

Crowe launches restructuring practice, moves office Accounting and consulting firm Crowe has launched a restructuring and insolvency practice in Cayman. Graham Robinson joined Crowe on 1...

Under pressure: Responding to the global push to regulate offshore

The flurry of new laws and legislative amendments coming out of Cayman's Ministry of Financial Services can at times give the impression that government is being pulled into every conceivable direction by international standard setters.

Butterfield’s reports ‘solid’ 3Q earnings after ABN Amro deal

Butterfield reported net income of $42 million or $0.79 per share and $49 million or $0.91 per share on a core basis in the...

RiverStone acquires two Cayman-based captives

RiverStone, an insurance run-off management company, has acquired two Cayman-based captives: GMPCI Insurance Company and Seaside Indemnity Alliance Company. Seaside was formed in 2013 to...

Study: How the corrupt launder their money in the UK

They spend it on luxury properties, jets and superyachts, or simply on tuition fees so their offspring can study at prestigious private schools and...

Eddinton Powell wins energy leadership award

FortisTCI president and CEO Eddinton Powell has been named the 2019 recipient of the third annual Caribbean Renewable Energy Forum (CREF) Energy Leadership MVP...

Single-family offices asked for input

The Ministry of Financial Services is encouraging single-family offices in the Cayman Islands to participate in government’s consultation on additional anti-money laundering regulations, either...

Business briefs

Carey Olsen Cayman adds to trusts and private wealth team Offshore law firm Carey Olsen has added counsel Chris Duncan to its trusts and private...

Dart launches shared office spaces

Dart Real Estate is offering 25 shared office spaces on month-to-month terms at Regatta Office Park on West Bay Road under the name ‘readyspaces’. The...
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