October 22, 2012
US considers giving more Caribbean states more duty free access
Several Caribbean Community (CARICOM) countries could benefit as the United States considers whether to designate them eligible to receive benefits under the Caribbean Basin Economic Recovery Act (CBERA).Since 1983, the Caribbean Basin Initiative…
October 22, 2012
Eurozone Leaders Praise Greek Austerity Efforts
Eurozone leaders are praising the efforts of debt-ridden Greece to resolve its financial woes and resume its cost-cutting austerity.Some of the 16 other countries in the euro currency bloc have often attacked Athens for its slow pace in adopting…
October 16, 2012
India, China added to list of KYC-friendly countries
The Cayman government has now included India and China on the list of countries that have laws and regulations in place considered to be equivalent to those of the Cayman Islands, with respect to the evidence of identity required from applicants for…
October 16, 2012
Portugal reveals tough 2013 budget
The Portuguese government has revealed details of its draft budget for 2013, one of the harshest in the country's recent history. Finance Minister Vitor Gaspar confirmed the average income tax rise would increase from 9.8% in 2012 to 13.2% next…
October 16, 2012
Yahoo appoints Google’s Henrique de Castro as COO
Yahoo has appointed Google executive Henrique de Castro as its next chief operating officer (COO), the second big name it has hired from its rival in recent months. Earlier this year, it appointed former Google executive Marissa Mayer as its chief…
October 16, 2012
Softbank to take control of Sprint Nextel for $20bn
Japanese mobile phone company Softbank is to buy 70% of US carrier Sprint Nextel for $20.1bn (£12.5bn). The deal will be the biggest overseas acquisition by a Japanese firm. The takeover of the number three mobile carrier in the US will make…
October 16, 2012
Greek Austerity Talks Remain Stalemated
Greece says negotiations with its international lenders over the country's latest austerity plan are unlikely to be concluded before this week's European Union summit. Finance Minister Yannis Stournaras said Monday Greek officials are still talking…
October 16, 2012
IMF Leaders Seek ‘Quick, Effective’ Action on Growth
Global finance ministers have called for quick and effective action to safeguard faltering economic growth and rebuild shaken confidence. The ministers warned Saturday at the annual meeting of the International Monetary Fund in Tokyo that global…
September 5, 2012
Longer working week suggested for Greece
Greece's international lenders have suggested measures including increasing the maximum working week to six days. It is one of several unofficial proposals to liberalise the labour market and increase government revenue, contained in a paper seen by…
September 5, 2012
Lufthansa cancels flights as crew stage third strike
Lufthansa has cancelled hundreds of flights on Friday as cabin staff stage another one-day strike at Germany's three busiest airports. The strike was called by the UFO union late Wednesday for Frankfurt, Munich and Berlin airports. Lufthansa has…