Cayman Islands News

On November 12th, 2009, the U.K.'s Serious Fraud Office , an independent government department that investigates and prosecutes fraud and corruption cases, announced that it is probing the London-based, Dynamic Decisions Capital Management Ltd., after the matter was referred to it by the Financial Services Authority.

Hair tucked into a surgical cap, eyes hidden behind thick-framed magnifying glasses, Devi Shetty leans over the sawed open chest of an 11-year-old boy, using bright blue thread to sew an artificial aorta onto his stopped heart.

THERE is little love lost between business and the Tax Office at the best of times, but when commissioner Michael D'Ascenzo lobbed a grenade at the international investors who had made a $1.5 billion profit selling their Myer Holdings shares to the public, the shrapnel flew around the world.

PRIVATE equity firms have been put on notice that supposedly tax-efficient structures for owning and selling assets, such as the $2.4 billion float of department store giant Myer Holdings, may in fact attract multimillion-dollar income tax bills.

The member states of the Gulf Cooperation Council should be seen as onshore financial centres and not tax havens, a lawyer at a leading international firm has said.

Lloyds Banking Group, which is 43% state-owned, has failed in its latest attempt to avoid a A 54m tax bill.

Birdsall, Inc., a subsidiary of Nicor and parent company of Tropical Shipping, signed a definitive agreement to acquire Miami-based Deluxe Freight.

Britain's Serious Fraud Office has started a criminal investigation into Dynamic Decisions Capital Management, a Mayfair-based hedge fund founded by an academic from Imperial College London.

GEORGE TOWN, Cayman islands -- The Cayman Islands government intends to pursue renewable energy as a means of diversifying the Islands' generating sources, reducing energy bills, and minimising impact on the environment.

Fraud investigators have opened an inquiry into the activities of a hedge fund based in the Caribbean and with links to London.

A Conservative government would immediately rebuild the UK's relationship with the Cayman Islands and Britain's other overseas territories.

Creditors of Saad Investments Company Ltd held their first official meeting on Thursday, accountancy firm Grant Thornton said, taking a next step in the troubled firm's restructuring process.

When auto magnate Ed Morse faced a legal tussle with a South Florida interior decorator, Morse turned to his lawyer Scott Rothstein -- and got taken for a ride.

Accountants investigating the affairs of Maan al Sanea, the Kuwait-born entrepreneur involved in the Middle East's biggest corporate scandal, have unearthed more than US$6.2 billion of assets in his Cayman Islands holding company, The National can reveal.

Tropical Storm Ida's Path as of 11-7-09 Wasn't the hurricane season supposed to end November 1st? Tell that to Ida , who is strengthening over the northwest Caribbean Sea, causing the government of Mexico to issue a hurricane watch for the area from Tulum to Cabo Catoche, and a tropical storm warning from Punta Allen northward to San Felipe.

A newly strengthened Tropical Storm Ida slogged across the Northwest Caribbean with 60 mph winds on Saturday and headed for the Gulf of Mexico.

AN AXE was hurled at a Merseyside businessman after a Cayman Islands property deal turned sour, a court heard.

Offers of support from around the world have saved kittens at a rescue centre from being put down.

The US state of Delaware beats all other international financial centres, including the Cayman Islands, in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday.

Navigational device maker Garmin Ltd. is expected to report lower third-quarter profits and revenues from a year ago.