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Bermuda is no tax haven says finance minister

(Reuters) - Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory's finance minister said on Monday. Google has come under fire from British lawmakers for channelling billions of dollars a year through an Irish subsidiary to a Dutch sister company which then passes the money to another affiliate in Bermuda. The use of such complex structures is common among multinationals, including Apple and Amazon, and has become a hot political topic on both sides of the Atlantic.

Premier shrugs off ‘Jetgate’ complaints

HAMILTON, Bermuda, CMC - Premier Craig Cannonier has dismissed opposition complaints over a trip he and two cabinet colleagues took on a private jet to a meeting involving a group of investors in Washington, DC. Progressive Labour Party (PLP) MPs blasted the government for what they dubbed “Jetgate” after earlier calling for a Commission of Enquiry into the affair - a call that has been rejected by Governor George Fergusson.

Corruption allegations in the Cayman Islands

KINGSTON, Jamaica - The British overseas territories often seem to have the best of both worlds. They are 14 island nations that represent a hangover from Britain's imperial past. On the one hand, they have a high degree of autonomy and constantly agitate for more. But on the other hand, they remain British territory, which gives them a huge advantage as financial centres. Foreign investors like the fact that countries like the Cayman Islands, Bermuda and the British Virgin Islands offer the British rule of law.

Bermuda counts cost as fire-hit cruise ship misses three visits

HAMILTON, Bermuda, CMC - Bermuda has begun counting the cost after Royal Caribbean, which owns the fire-damaged liner Grandeur of the Seas, confirmed the ship will miss its next six sailings. The Grandeur suffered fire damage as it headed for Coco Cay in the Bahamas on Monday but no injuries were reported. It is not expected to return to service until the second week of July after undergoing repairs.

New government named as former premier joins

PPM GEORGE TOWN, Cayman Islands, CMC – Leader of the People’s Progressive Movement (PPM) Alden McLaughlin has been appointed premier of this British Overseas Territory one week after the party won the most seats in the general election. McLaughlin needed the support of at least 10 legislators before he could have been appointed head of the government and Governor Duncan Taylor said that he had been officially informed that former premier Juliana O'Connor-Connolly had joined the PPM. She will be named Speaker of the Legislative Assembly. “I was today informed that the Hon.

CAYMAN - Progressives to form new government on Wednesday

(CARICOM News Network) Following its decisive victory in last Wednesday’s general elections, leader of the Progressives Party Alden McLaughlin has revealed a partial list of his new Cabinet members. In addition to being Premier, Alden McLaughlin will also serve in a new portfolio as Minister of Home Affairs. Deputy Premier Moses Kirkconnell, will take on the job as tourism minister as well as minister for district administration.

PPM on track to form Government

GEORGE TOWN, Cayman Islands, CMC - As the counting of ballots from Wednesday’s General Election continues, the latest results have revealed that the opposition People’s Progressive Movement (PPM) is just one seat short of a majority required for the to form a ruling government. The PPM took four out of six Legislative Assembly seats in George Town, the Cayman Islands’ largest voting district, with results being announced just after dawn Thursday.

Cayman voters go to polls

GEORGE TOWN, Cayman Islands, CMC – More than 18,000 voters in this Caribbean-island are going to the polls Wednesday to elect a new government with political observers pointing to the possibility of a coalition administration emerging after the ballots are counted.
Supervisor of Elections, Kearney Gomez, says his office is in a state of readiness and expects everything to go smoothly.
Polls open at 7:00 a.m. (local time) and will close at 6:00 pm (local time).

Time to get our houses in order says British PM

HAMILTON, Bermuda, CMC - British Prime Minister David Cameron has put pressure on Bermuda and other British Overseas Territories (OTs) to "take the lead" on tax information exchange and beneficial ownership. Cameron on Monday wrote to Bermuda, along with the rest of Britain's OTs and Crown dependencies such as Guernsey and the Isle of Man. The call for continued partnership with the UK came just weeks before Britain hosts the next G8 summit on June 15.

Voters electing new government

GEORGE TOWN, Cayman Islands, CMC – More than 18,000 voters in this Caribbean-island are going to the polls Wednesday to elect a new government with political observers pointing to the possibility of a coalition administration emerging after the ballots are counted.
Supervisor of Elections, Kearney Gomez, says his office is in a state of readiness and expects everything to go smoothly.
Polls open at 7:00 a.m. (local time) and will close at 6:00 pm (local time).

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