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Latest Cayman Islands News

Flowers bloom down Mexico way
> The Cayman Islands Aquatic Swim Association is sending three of Caymans best young swimmers to compete in the FINA World Youth Championships in Mexico. Seiji Groome, Summer Flowers and Lara Butler will be competing in the interest of gaining valuable

15 Countries Named as Potential Money-Laundering Havens
Financial Action Task Force, body created by Group of 7 wealthy countries to fight money laundering, names 15 countries and territories as potential havens for ill-gotten wealth; they are Israel, Philippines, Russia, Bahamas, Cayman Islands, Cook Islands, Dominica, Lebanon, Liechtenstein, Marshall Islands, Nauru, Niue, Panama, St Kitts and Nevis and St Vincent and the Grenadines

KBR tax loophole raises new questions (AP)
AP - When it comes to paying federal taxes on its workers in Iraq, KBR says it was exempt because they were foreign hands hired through subsidiaries in the Cayman Islands.

Siem Offshore Inc secures passenger vessel contracts from Petrobras
Cayman Islands-registered Norwegian offshore support vessels operator Siem Offshore Inc (OSE: SIOFF) said on Friday (6 June) that its wholly-owned subsidiary Siem Consub SA has received a contract for two fast passenger vessels from the Brazilian oil

Porsche May US sales fall on drop in demand for 911, Boxster and Cayman
p.m. ATLANTA (AP) - Porsche Cars North America Inc. said Tuesday its May U.S. sales fell on lower demand for its 911, Boxster and Cayman models. Porsche sold a total of 2,796 vehicles in May, down 16.5 percent from 3,348 in the same month last year.

Liquidators of Bear Stearns funds lose court appeal (Reuters)

Reuters - Representatives of two collapsed Bear Stearns Cos Inc hedge funds linked to risky mortgage investments have lost a court appeal seeking to have the funds liquidated in the Cayman Islands instead of in the United States.

Country Information

The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries, and were administered by Jamaica after 1863. In 1959, the islands became a territory within the Federation of the West Indies, but when the Federation dissolved in 1962, the Cayman Islands chose to remain a British dependency.

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