Cayman Compass

The Economics and Statistics Office has this week released its COVID-19 Economic Impact Assessment and Stimulus Plan that is informing government policy on tackling the economic fallout from the pandemic. Finance Minister Roy McTaggart outlined the key findings of the report at the end of May, stating that the economy might contract by 12.2%, with nearly 10,000 jobs lost, including almost 3,000 Caymanian employees.

Just over 1,350 jobseekers had registered with government's new employment portal by 1 June, government officials said Friday.

Retraining out-of-work Caymanians to play a bigger role in the stayover tourism industry will be part of the focus of a new three-year plan for the stricken sector. A 3-month stipend and an increase in scholarship funding are also being put in place to ease the transition.

More than 1,000 Caymanian tourism workers have applied to the government for assistance after losing their jobs in the industry, Tourism Minister Moses Kirkconnell said in a statement Wednesday.

Bermuda is following a move by the Cayman Islands that allows residents to withdraw a portion of their pension savings to help them cope with the economic fallout from the COVID-19 pandemic.

As work patterns shift from office to home, Cayman’s telecommunications infrastructure is feeling the strain. Wireless internet and cellphone networks are suddenly dealing with traffic they were not built to handle, says Alee Fa’amoe, executive director for information and communications technology at OfReg.

The Ministry of Community Affairs issued a statement Thursday saying that the deadline for unemployed work-permit holders to submit applications for food vouchers is Sunday, 31 May.

During the current economic crisis, many small businesses are leaving free government assistance money on the table. The Cayman Islands Centre for Business Development has so far only received 320 applications for grants that pay struggling businesses three monthly payments of $1,000 as working capital support.

The Cayman Islands is facing a double digit drop in gross domestic product and a local unemployment rate of almost 20% as a result of the coronavirus crisis, Finance Minister Roy McTaggart said Wednesday.

The rest of the construction and retail sector could open next week under certain conditions, Premier Alden McLaughlin said Wednesday.

Workforce Opportunities and Residency Cayman has reminded employers of their legal obligation to notify the department if employment of any staff member has ended.

All work-permit holders returning to Cayman will be required to isolate for 14 day at government’s isolation facilities, but it will be on their employers’ dime, according to new conditions released on Friday.

The Department of Commerce and Investment has processed and issued more than 1,400 trade and business licences since 25 March. This includes 305 new licences, 1,014 renewals and 136 licence amendments.

British Caymanian Insurance Company Limited has asked its customers for patience as it processes thousands of pension-withdrawal applications triggered by the COVID-19 pandemic.

The Cayman Islands is just weeks into a period of social and economic disruption that could last for years, according to the founder of a new non-profit organisation.

The government announced Friday that work-permit holders will be allowed to return to the Cayman Islands on incoming flights, but will need to spend two weeks at an isolation facility at their own cost.

Government is pushing ahead with its plans to reopen Cayman’s construction industry through a phased approach beginning next week, Premier Alden McLaughlin has announced.

If Cayman borrows the aforementioned US$1 billion, it could use the vast majority of that to inject equity capital via a venture fund into entrepreneurialism in Cayman. This fund would need to operate commercially, free from undue government interests, and run in a professional fiduciary capacity for the Cayman Islands. It would help catalyse thoughts that were previously unthinkable, it would help fund ventures that were previously unfundable, and help break entrenched interests that were previously unbreakable.

Government remains hopeful that the phased reopening of the economy can continue despite a handful of frontline workers testing positive for the coronavirus in the latest screening.

Join us on Facebook live at 12pm for an Ask the Experts roundtable discussion on pensions. Representatives from the Chamber Pension Plan, Island Heritage and Saxon Pensions will be answering your pension questions. 

As Cayman gradually restarts its domestic economy, thousands of workers are being given the green light to return to their jobs as part of the first phase of reopening.

The Grand Court has ruled that Section 9 of the Bill of Rights covering 'Private and family life' must be considered by the Immigration Appeals Tribunal when considering whether a person can remain on island.

Around 6,000 workers are expected to return to work in one capacity or another as the first phase of reopening Cayman's economy begins. Retailers,...

Snorkeling with Don Foster’s, relaxing at the beach at Calico Jack’s, plunging beneath the sea’s surface on a submarine with Atlantis and finishing it off with a night at Royal Palms. It sounds like the perfect vacation day in Cayman. Instead, it is a roll-call of some of the first business casualties of the coronavirus crisis.

Frequently asked questions regarding the Cayman Islands suspension and withdrawal of pension contributions.

Hundreds of staff at hotels owned by Dart Enterprises are being offered temporary leaves of absence, or in some cases being laid off, as the economic crisis facing the tourism industry deepens.

A phased reopening of Cayman's domestic economy is expected to begin Monday after encouraging results from hundreds of screening tests for COVID-19 this week.

Ten former inmates attached to the Second Chances programme have been temporarily employed with the Department of Environmental Health,, according to Health Minister Dwayne Seymour.

New Labour Law changes will now see employers continue to pay health insurance for dismissed employees for another 30 days while deferring severance packages for the same period.

Representatives from HSM Chambers joined us for a live Q&A, so you could have your questions answered directly by the experts.

Have questions about how COVID-19 impacts your immigration status? Are you an employer wondering what coronavirus restrictions mean for your businesses' ability to hire...

Government is warning local businesses that they are under an obligation to pay employees who have been terminated what they are owed under the law.

The Workforce Opportunities and Residency department has implemented policy changes to reduce public interaction as part of its COVID-19 response.the Workforce Opportunities and Residency department has also implemented policy changes to reduce public interaction.

The brightest and best of Caymanian students need not feel deterred by financial constraints to pursue the studies of their dreams. Both government and private...

There are plenty of opportunities on-island to get educated for the workforce. Here’s a round-up of schools and organisations that offer learning opportunities.

The purpose of a résumé is to present your qualifications and experience clearly and concisely when applying for a job or expressing your interest...