News from the Turks and Caicos Islands:
March 5, 2015
The average price paid for a hotel room around the world rose by three percent during 2014 compared with 2013, according to the latest Hotels.com Hotel Price Index (HPI). However, the Caribbean reported four percent index growth. The overall global economic recovery...
March 4, 2015
As the extent of the damage suffered by Canadian banks in the Caribbean comes more clearly into focus, so too does the role the misfortunes of the region’s hospitality industry played in inflicting that damage, and so too does the question of how much is too much.
March 4, 2015
The Caribbean's newest healthcare facility is venturing into a new partnership to strengthen its identity as the region's premier destination for world-class healthcare and medical tourism. Shomari Scott, marketing director of Health City Cayman Islands, said that the international hospital's strategy...
February 26, 2015
A local attorney said that there are too many unanswered questions in relation to the legal authorities in the Cayman Islands that are of significant public concern. With a number of freedom of information requests eliciting very little information because of poor record keeping or refusals to release information...
February 12, 2015
The International Consortium of Investigative Journalists released a report this week revealing billions of dollars held in nearly 60,000 internal Swiss bank documents from 2006 to 2007 leaked by whistleblower Hervé Falciani, a former employee of HSBC in Switzerland.
February 11, 2015
The chairman of the Cayman Islands Stock Exchange, local attorney at law Anthony Travers, has accused UK Labour Party leader Ed Miliband of being hopelessly out of touch in relation to international tax avoidance. Travers’ comments follow a letter from Miliband to the leaders of Britain’s Overseas Territories.
January 29, 2015
Two stranded men are safe after the US Coast Guard rescued them off an island in The Bahamas on Tuesday afternoon. Coast Guard 7th District watchstanders received a request for assistance from the Royal Bahamas Defence Force to rescue two US citizens from a remote island.
January 27, 2015
The Expedia group, one of the world's largest online travel companies, reported on Monday that travel demand garnered via the company’s platforms for the Caribbean region grew nearly 30 percent year over year during the first three quarters of 2014.
January 24, 2015
The UWI Open Campus of the University of the West Indies (UWI) has announced the appointment of Dr Phyllis Fleming-Banks to oversee the operations of its Open Campus country sites in the British Overseas Territories (BOTs). The sites include Anguilla, British Virgin Islands, Montserrat...
December 13, 2014
The board of directors of the Caribbean Development Bank has approved US$10 million from the Special Development Fund for the eightth cycle of the Basic Needs Trust Fund (BNTF 8). This decision was made at the 264th meeting of the Board, held on Thursday.
October 10, 2014
Thursday’s acquittal by a local jury of former Cayman Islands premier McKeeva Bush on abuse of office and corruption charges may have ramifications for the British Foreign and Commonwealth Office (FCO). The allegations against Bush arose after a three-year investigation that concluded...
August 8, 2014
In a decision that has been described by local media as part of an “ongoing cover up”, the Royal Cayman Islands Police Service (RCIPS) has concluded that allegations that a former Cayman Islands governor, the attorney general and a British Foreign and Commonwealth Office (FCO) adviser lied...
May 14, 2014
An unpublished two-year investigation by anti-corruption experts says the UK should launch a major investigation into the use of the British Virgin Islands (BVI) and other tax havens by "high-risk" sectors such as Indonesian forestry, Britain’s Observer newspaper reported.
April 30, 2014
International evidence suggests payroll tax would have a worse impact on growth and employment in The Bahamas than a value added tax (VAT), according to two New Zealand VAT specialists. Don Brash, a prominent businessman in New Zealand, who was intimately involved in the...
April 21, 2014
The Bahamian tourism sector has reached the edge of a price level “precipice”, garnering just 35 percent of its potential market share due to price increases and standing to lose a further 15 percent if the cost of a travel package increases by just $200 more, according to a key consultant.