05/09/2008 According to the Bahamas International Securities Exchange, Colonial Pension Services (Bahamas) Limited has been approved as a Trading Member of the exchange.

01/09/2008 The IMF has reported that Panama was one of the fastest growing economies in the world last year.

28/08/2008 According to BISX, the BISX Mutual Fund Listing Process has been successfully completed by Phoenix Four Inc. Now, it has been added to the roster of funds listed on BISX.

25/08/2008 President of Seychelles led his delegation to the 28th South African Development Community (SADC) Heads of States and Government Ordinary Summit held on August 16-17 in Johannesburg, South Africa.

22/08/2008 Cable & Wireless has announced that its principal operations in the Channel Islands, the Caribbean, Panama, Macau, and Monaco are expected to invest more than USD 400 million in Caribbean telecommunications development.

21/08/2008 Cooperation talks between the Seychelles and Cyprus began on August 19 with the 1st meeting of the Permanent Cypriot-Seychelles Intergovernmental Commission.

14/08/2008 The Central Bank of the Bahamas has recently announced the new appointment - a former senior official with the United Kingdom Financial Services Authority was appointed as Inspector of Banks and Trust Companies.

12/08/2008 According to 2nd quarter figures released by the CIMA, more than 10 000 investment funds have been registered in the Cayman Islands, which is a key milestone achievement by Cayman financial services industry.

12/08/2008 BVI-registered China Natural Resources entered into an agreement with Feishang Group Limited, from which the BVI company had acquired the Coal Group with its wholly-owned subsidiaries, and the outstanding indebtedness of the Coal Group to the Feishang Group, for the total price of US$25 mln. The agreement was signed on August 11, 2008.

10/08/2008 The 20th General Assembly of the Caribbean Organization of Tax Administrators (COTA) met in Belize for a conference held in the end of July. Belize and other 15 Caribbean countries were represented at this 4-day conference.

04/08/2008 BVI corporation Yucheng Technologies Limited engaged in providing IT solutions and services to the Chinese banking industry, announced a significant call center expansion project for the China Construction Bank, - one of the top four commercial banks in China. Total number of call center seats of the China Construction Bank will increase from 3,000 at the end of the year 2007 to 7,500.

01/08/2008 BMI Offshore Bank (BMIO) made an announcement that its offshore banking operations in the Seychelles have been officially launched.

29/07/2008 Following the US Senate hearing held on July 24, the US Congress intensified its attention to offshore finance.

25/07/2008 BVI FSC issued Advisory Warning under Section 4 (1)(1) of the Financial Services Commission Act, 2001, concerning NewNetQuest as a potential pyramid scheme targeting BVI residents. Members of the public are advised to exercise extreme caution dealing with NewNetQuest and other similar schemes, and are also invited to provide the Commission with any information on questionable entities operating in or from within the BVI.

20/07/2008 The Central Bank of Seychelles has announced that Seychelles' Mutual Fund legislation has been updated. Mutual Fund Act has been redrafted so that it plugged gaps in the previous mutual funds legislation.

18/07/2008 A-Power Energy Generation Systems Ltd, power systems firm registered in the British Virgin Islands, signed an agreement according to which it will build a wind turbine production plant with the Chinese government of Bayan Nur (Inner Mongolia). The project is planned to be completed in July 2009. The new plant will have wind turbines of 2.5 MW and 750 kW capacity.

16/07/2008 Concluding the 8th Session of the Seychelles-Mauritius Commission on Bilateral Cooperation, the Governments of both jurisdictions agreed to support each other and strengthen cooperation regarding bilateral relations.

12/07/2008 Mr Carlyle McLaughlin Jr. has been appointed as the Chairman of the Board of Directors of the (CIMA). This appointment will become effective on July 27, 2008.

11/07/2008 A cheque for USD 12.5 million was presented by the Ambassador of Taiwan, His Excellency Ting Joseph Shih, to Belizean Prime Minister Barrow.

10/07/2008 BVI corporation Euro Tech Holdings Company Limited announced that its subsidiary, Yixing PACT Environmental Technology Company Limited, has been awarded a contract with an international engineering company. The contract for a Guinea alumina project, worth US$1.4 million, covers design, supply, installation and commissioning of a sewage treatment plant in Guinea.

05/07/2008 The Minister for Finance Danny Faure announced that Seychelles has launched the process of debt rescheduling as well as partial writing off its bilateral debt.

05/07/2008 The IMF concluded the 7th Annual Regional Conference on Central America, Panama and Dominican Republic and examined how globalization and economic integration is impacting Central America's tax structures.

05/07/2008 BISX is going to launch a new initiative targeted at global financial services companies in order to create a new platform that will be focused on opportunities in the international capital markets.

30/06/2008 In the end of June, the Prime Minister of Belize Dean Barrow spoke on behalf of the Caribbean Community (CARICOM) at a New York conference on the Caribbean 2008 about the issues of trade and investment.

25/06/2008 The largest offshore law firm in BVI Harney Westwood & Riegels, announced the merger with C.S. Gill & Co, a firm based in the Cayman Islands. The office of the merged firm is expected to be opened on September 1 in George Town, Grand Cayman. Kieron O'Rourke, the head of investment funds sector of the BVI firm, and fellow partner Tim Clipstone will relocate to Cayman from Harney's BVI office.

24/06/2008 The CIFSA has responded to a recent report by the Public Accounts Committee (PAC) of the UK's House of Commons that was looking for corrections as regards a misrepresentation of the standards of regulation within the UK's Overseas Territories mentioned in the report.

20/06/2008 BVI Financial Services Commission published two press releases which included information on senior management changes - the completion of two five-year employee contracts with the Commission, and new appointments to Senior Management posts.

16/06/2008 On June 13, House members passed the Bahamian Government's 2008-2009 Budget Bill. Passing the bill followed debate on the budget that included tax concessions.

15/06/2008 The Cayman government has announced that its legislature will shortly debate new legislation aimed to strengthen Cayman anti-money laundering defences.

09/06/2008 Advisory Warning was published by the BVI Financial Services Commission, concerning the FATF Public Statement on money laundering and terrorist financing risks, issued by the Financial Action Task Force (FATF) on 28 February, 2008. In relation to the public statement by FATF, the BVI FSC advised the public to consider the risk that could arise when dealing with customers or transactions involving any of the jurisdictions named in the FATF document.

06/06/2008 The Central Bank of Seychelles announced that it will introduce a new service in order to increase investment flexibility.

06/06/2008 The EU has revised a list of countries with satisfactory anti-money-laundering controls and excluded the Cayman Islands and the British Virgin Islands from the "white list".

29/05/2008 Hubert Ingraham, Bahamas Prime Minister and Minister of Finance, has delivered the Bahamian government's 2008-2009 Budget Communication to Parliament. The Budget is heavily tilted to provide relief to Bahamians on low incomes.

26/05/2008 It has been recently revealed that CIMA was part of the CFATF team that evaluated the anti-money laundering and counter-terrorist financing regime of the BVI.

25/05/2008 The BELTRAIDE is sending a delegation to the II SICA-Brazil Business Forum that will be held in San Salvador on May 29.

24/05/2008 British Virgin Islands company Starbay Holdings Ltd. obtained an investment license to start up the Dai Beach Resort project in Phu Quoc district (Vietnam) more than US$1.6 billion worth. The license was issued by the Kien Giang People's Committee at the international conference devoted to tourist real-estate investment opportunities.

20/05/2008 On May 16, 2008, new Ambassador of China to Seychelles Wang Weiguo arrived in Seychelles and presented his credentials to Seychelles President James Alex Michel in the capital Victoria.

20/05/2008 The Bahamas Financial Services Board announced securities sector legislative developments to diversify the second pillar of the Bahamian economy and to reinforce growth for the jurisdiction's private wealth management services.

17/05/2008 Prime Minister Dean Barrow left Belize for Taiwan. He will visit Taipei to attend the inauguration of a new President of Taiwan Ma Ying-jeou.

16/05/2008 The National MSME Policy will be presented to Belize's Minister for Economic Development, Commerce and Industry, and Consumer Protection, to make Belize more competitive in the Commonwealth.

15/05/2008 On May 12, 2008, the Cayman Islands Government and the Turks and Caicos Islands Government signed an agreement to develop Lands Registry in Turks and Caicos.

09/05/2008 The Committee of Public Accounts of the House of Commons issued a report on Financial Services Regulation in BVI and other overseas territories of the UK, undertaken by the Foreign and Commonwealth Office. The report came as a result of an inquiry into offshore centres made by the Common Treasury Committee, to decide whether the territories have contributed to international financial instability.

25/04/2008 Project managers are completing a bid aimed to establish a local professional chapter in Cayman that is to make the jurisdiction attractive for investors and businesses.

22/04/2008 FirstCaribbean International Bank announced that it has successfully completed a 30-year bond issue for the Commonwealth of the Bahamas worth USD 100 million.

22/04/2008 FirstCaribbean International Bank announced that it has successfully completed a 30-year bond issue for the Commonwealth of the Bahamas worth USD 100 million.

20/04/2008 Transmeridian Exploration Inc. announced the termination of Merger Agreement with British Virgin Islands-registered Trans Meridian International Inc. (TMI). The $825 million deal between the companies began to fall apart two months ago when BVI corporation said it is unable to meet the financing deadline for the offer, which was set at March 21, 2008.

19/04/2008 The Bahamas is expected to strengthen its diplomatic ties with the Republic of Chile under the provisions of the Economic Partnership Agreement with the EU. This was announced by Bahamian Governor General, Arthur Hanna, when he welcomed new Ambassador of Chile to the Bahamas.

15/04/2008 Three representatives of a major Kuwaiti business developer, who visited President Michel at State House, are going to make huge investments into the jurisdiction.

13/04/2008 Prime Minister Dean Barrow paid several important international visits to Miami. He met with World Bank officials, attended the Annual Meeting of the Inter-American Development Bank, and he met with the OPEC Fund for International Development (OFID) officials.

12/04/2008 Moody's Investors Service said that Cayman's maintenance of its favorable government foreign currency bond rating shows the economic resilience of this offshore jurisdiction in the face of uncertainty that surrounds the US economy.

12/04/2008 According to the announcement made by the Government of Belize on April 10, two important Memoranda of Understanding have been recently signed by the jurisdiction.

09/04/2008 BVI FSC presented the 'Guidance Notes on Revocation or Cancellation including Solvent Liquidation'. The document provides a framework for voluntary revocation and cancellation of licences and certificates of regulated persons, and the approval of solvent liquidation procedures.

06/04/2008 Sheikh Tamim bin Hamad Al Thani, the Deputy Emir of Qatar, issued a decree that ratified a double taxation avoidance agreement (DTA) between Qatar and the Seychelles.

04/04/2008 A delegation from the BVI FSC and territory's autonomous financial regulatory agency during its visit to Qatar met Qatar Financial Centre Authority, QFC Regulatory Authority and Qatar Financial Centre to talk on BVI's regulations, private wealth management and corporate activities. The delegation was led by Robert Mathavious, managing director and CEO of BVI FSC, and by Lorna Smith, executive director of International Finance Centre.

28/03/2008 Prime Minister Dean Barrow returned to Belize from Washington. He met with President Bush, President of the Inter-American Development Bank Mr. Luis Alberto Moreno, and Secretary General of the Organization of American States His Excellency Jose Miguel Insulza.

26/03/2008 CIMA has broadened its network of agreements with overseas regulatory bodies by concluding Information Exchange Agreement with Washington.

26/03/2008 BVI Financial Services Commission has published the Quarterly Statistical Bulletin with information, statistics and analysis of financial services activities in the year 2007. This year, the record amount of 77,022 new companies was registered in the British Virgin Islands.

14/03/2008 The President of Mexico Felipe Calderon has initiated talks with Panama regarding a free trade agreement that has been awaited for a long time.

14/03/2008 Harneys Corporate Services Limited, the largest provider of administration services to the BVI Business Companies, has announced the launch of a new Share Trust service in BVI. The main point of the Share Trust is automatic succession to the shares of the BVI Business Company and appointment of replacement directors in the event of shareholder's death or early incapacity.

10/03/2008 Recently, publishing Seychelles Strategy for 2017 has been announced. The mission stated in the document was doubling the GDP by 2017, which is going to be achieved by means of focusing on developing the offshore financial services industry, tourism and fisheries expansion programmes, as well as the growth of other economic sectors.

06/03/2008 Belize will benefit from an additional allocation of EUR 7.8 million granted by the European Commission as apart of continued support for the improvement and modernization of the jurisdiction's sugar and banana industries from the EU.

02/03/2008 The European Commission made the 1st step towards the signing of short stay visa waiver agreements between the European Community and Seychelles.

01/03/2008 Recently, CIFSA has made the following suggestion - although the Cayman Islands' service providers and the Regulatory Authority performs many activities to combat money laundering, certain international financial centres fail to recognise the Cayman anti-money laundering regime.

29/02/2008 Panama's long-term sovereign credit rating has been raised by Standard and Poor's to BB+ from BB. This new rating is based on strong economic growth of Panama and continued improvement in fiscal health of its government.

28/02/2008 On February 21, 2008, the Cayman Islands Monetary Authority (CIMA) and the United Kingdom's national regulator of financial services and markets Financial Services Authority (FSA) signed a memorandum of understanding.

25/02/2008 BVI FSC published 3 new documents related to Anti-Money Laundering legislation - Anti-Money Laundering and Terrorist Financing Code of Practice, 2008, Non-Financial Business (designation) notice, 2008, Anti-Money Laundering Regulations, 2008. All the documents were gazetted on February 22, 2008.

20/02/2008 The UDP had won general election in Belize, and the Prime Minister of Belize, Dean Barrow, has made an official announcement of a new cabinet.

18/02/2008 BVI company A-Power Energy Generation Systems Ltd. announced that it has entered into an agreement to acquire Liaoning International Construction & Engineering Group (LICEG). The Group was incorporated in 1993, under the Construction Commission of the Liaoning Province, and is now one of China's leading construction and engineering companies.

12/02/2008 The Development Bank of Seychelles, a joint venture between the Government of Seychelles and financial organizations, is celebrating its 30th anniversary with a series of activities in the middle of February 2008.

10/02/2008 The government of the Bahamas is seeking to strengthen its financial cooperation with the government of the Netherlands. It also hopes to leverage the Netherlands' government's support in order to secure financial services regulation within the OECD.

08/02/2008 An International Monetary Fund staff mission issued and published the Statement at the Conclusion of the 2008 Article IV Staff Mission to Seychelles.

07/02/2008 The Belize Trade and Investment Development Service has announced the launch of Action Plan for the coming year.

05/02/2008 As a result of the invitation of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait, Seychelles' President James A. Michel is visiting Kuwait.

04/02/2008 At the Sixth Sitting of the First House of Assembly the Insurance Act 2008 was passed, which replaced the Insurance Act of 1994. The new act developed and enhanced the framework of the previous act, and will have the purpose of positioning the insurance industry in the BVI territory in order to meet international insurance standards.

01/02/2008 The Cayman Islands Monetary Authority released CIMA's Year in Review, 2006-2007 report to disclose its operations for the financial year ending on June 30, 2007 and indicators of financial sector's performance in the Cayman Islands.

28/01/2008 The 4-day workshop on multilateral trade negotiation and regional integration was organized by the COMESA in conjunction with the Trade Division within the Ministry of Finance of Seychelles.

28/01/2008 A new regulatory body - Belize Land Transportation Authority - has been formed with a view to improve Belize's growing transportation industry.

24/01/2008 Premier Ralph T. O'Neal officially participated in the 46th Meeting of the Organisation of Eastern Caribbean States (OECS) which was held on January 16-18 in the Commonwealth of Dominica. In his interview given after the meeting to the Department of Information, the Premier specially pointed out that due to the OECS's initiatives BVI participated in several schemes and projects concerning the environment protection.

16/01/2008 BVI Financial Services Commission published amendments to Schedule 2 and Schedule 3 of the BVI Business Companies Act, 2004, which postponed the deadline of re-registration of BVI Companies Act Companies for 1 year.

15/01/2008 Deutsche Bank has been named as best private bank in the Cayman Islands in the Private Banking and Wealth Management Survey 2008 for the 2nd time.

10/01/2008 The 1st House of Assembly held its First Session, during which the Amended Bill on Legislators' Transparency was passed. Premier Ralph T. O'Neal noted the importance of the Bill speaking in the House of Assembly.

05/01/2008 In his New Year's message, Seychelles' President James Michel announced Seychelles the Constitution - the national theme for 2008.

19/12/2007 According to Minister of State for Finance Zhivargo Laing, the Bahamas government is going to strategically promote and market Bahamas' financial services sector within the international community.

15/12/2007 Negotiations on a temporary agreement for an Economic Partnership Agreement between African, Caribbean and Pacific countries and the EU have been started by Barry Faure, Seychelles Ambassador to the European Union.

12/12/2007 Three Belizean organizations - the Human Services Department, the National Garifuna Council and the Museum of Belize - received funding from UNESCO.

11/12/2007 The BVI-incorporated company Sherwood Investments Overseas Ltd. has announced that it has offered to purchase music retailer Trans World Entertainment Corp. for USD 217 million.

01/12/2007 US journalist John Fund has recently been invited by CIFSA to comment on US Congressional criticisms of the Cayman Islands and other offshore financial centres.

23/11/2007 Bahamas Minister of State for Finance has commenced a campaign aimed to promote the fiscal responsibility of citizens through the payment of taxes.

20/11/2007 The Government of the Bahamas is seeking support from Germany in its continued talks with the Organisation for Economic Cooperation and Development (OECD) that regard transparency in financial services of the Bahamas.

20/11/2007 On November 16, the Cayman Islands Monetary Authority celebrated its 10-year anniversary.

19/11/2007 The UK Guardian has claimed that multinational banana companies are using tax haven jurisdictions such as the British Virgin Islands in order to avoid paying tax on their profits in the UK and in other developing countries.

19/11/2007 Recently, a new law was passed by Panama's National Assembly to give multinational companies that perform certain tasks a significant tax break. As a result, according to a company specialising in investment property in Panama, the country's real estate sector is expected to experience an unprecedented boost.

15/11/2007 The Minister of State for Finance, Zhivargo Laing claimed that the economy of the Bahamian remains robust. The jurisdiction's central bank predicted its growth at 3%.

15/11/2007 The Ministry of Natural Resources and the Environment of Belize and the Energy and Environment Partnership with Central America (EEP) will organize the 10th Regional Forum on Renewable Energy that will be held on November 20-22, 2007 in Belize.

10/11/2007 Two legal giants, Walkers of the Cayman Islands and Mourant du Feu & Jeune are engaged in merger talks, which could lead to the creation of the world's biggest offshore law firm.

10/11/2007 With a view to promote Seychelles offshore business, the Seychelles International Business Authority (SIBA) has recently sponsored two important events in offshore community - Asia Offshore Association Conference and International Tax Planning Association meeting.

07/11/2007 On October 24, 2007, unaudited interim results for 6 months ended June 30, 2007 were published by BVI-based Equator Exploration Ltd. Equator Exploration reported of some losses in the 1st half of 2007.

23/10/2007 A company operating in Hamburg, Beiersdorf Aktiengesellschaft has recently announced entering a share purchase agreement with a BVI-incorporated Global Source Investments Limited and Hong Kong-incorporated C-BONS Holding (International) Limited.

18/10/2007 Attorney General Sen. Claire Hepburn said that a national strategy for anti-money laundering and countering terrorist financing is central for the Bahamas that are aim at sustaining its place as a well-regulated financial services jurisdiction.

17/10/2007 CIFSA has welcomed changes to the insolvency legislation in the Cayman Islands that will soon be introduced. The changes include the licensing of practitioners and measures to help with cross-border insolvencies.

01/10/2007 On September 19, 2007, the Embassy of the Republic of Seychelles was officially opened in Beijing, People's Republic of China. The Ministry of Foreign Affairs of Seychelles announced the opening in the beginning of September.

28/09/2007 The Board of CIMA has approved the implementation of the new Basel II framework, which will be implemented in Cayman between 2010 and 2012.

19/09/2007 The WTO has announced completing a Trade Policy Review of Panama and published the results of the review. The report suggested that the rationalization of assistance programmes and the simplification of the trade regime would help Panama to sustain the economic growth.

14/09/2007 MoneyGram International has decided to extend its operations to Belize. To offer an affordable and convenient money transfer service to its customers, the company chose 3 agents - Belize Bank, Omni Networks and Fultec Systems.

09/09/2007 Financial Secretary Kenneth Jefferson has told lawmakers that Cayman economy strengthens as in 2006 the jurisdiction maintained its international ranking of 6th place for total banking assets held by it, and the growth of the Cayman economy outpaced the growth of the United States.

07/09/2007 In October, the BVI International Finance Centre will send a delegation to London in order to make a series of presentations. The presentations update executives dealing with in the trusts and corporate business sector on the the growth of the trusts and corporate business industries in the BVI.

07/09/2007 Barclays Bank indicated the Seychelles as a country with good money laundering control in offshore banks. The strict control measures used for offshore banking branches in Seychelles are to be applied in Ghana.

05/09/2007 On August 31, 2007, the Cayman Islands Legislative Assembly passed the Freedom of Information Bill into law. This bill is to become law on January 1, 2009.

28/08/2007 The Listing Committee of the Bermuda Stock Exchange (BSX) has announced approving the listing of the Common Shares of RenFin II Ltd, a British Virgin Islands incorporated fund.

24/08/2007 Seychelles has re-entered the Southern African Development Community (SADC), which now has 15 members. Seychelles had already been SADC member previously, but it quit it.

23/08/2007 CIMA has released the report entitled "Look Forward Report: 2007-08", which describes the Authority's mission, goals and objectives, as well as indicates its strategies, tactics and work projects that will be undertaken during this fiscal year.

22/08/2007 Economic growth in Panama is expected to exceed last year's 8.1% because of a strong investment climate, a dynamic services sector and the Panama Canal expansion programme.

21/08/2007 According to the annual National Accounts Report by the government of the Bahamas, the economy grew by approximately 4.2% in current prices and 3.4% in constant prices in 2006.

18/08/2007 In 2006, a 13.71% rise was recorded by the Seychelles Credit Union (SCU) on its general reserve. Capital available for immediate disbursement to clients has risen by 137%.

09/08/2007 A memorandum of understanding has been signed between Jersey and the BVI. It was signed by the Jersey Financial Services Commission and the British Virgin Islands Financial Services Commission to enhance co-operation between the 2 regulatory bodies.

08/08/2007 According to the announcement made by the Ministry of National Development, the European Commission Delegation in Jamaica has sent the official confirmation that a grant of Euro 11.8 million (BZ$ 32.5 million) will be given to Belize under Envelope "A" of the 10th European Development Fund.

05/08/2007 The Belize Trade and Investment Development Service (BELTRAIDE), the main government agency, has announced that Belize's Investor Manual was launched on July 26, 2007 by the Minister of Finance, National Development and Public Service, the Rt. Hon. Prime Minister Said Musa and BELTRAIDE.

02/08/2007 According to Seychelles President James Michel's expectations, the Seychelles' economy is to grow by 7.5% in 2007 as far as investment in the jurisdiction's keeps on increasing.

16/07/2007 As far as providing accurate, efficient and trustworthy data on Belize has been one of the crucial objectives of the government of Belize, it needed to launch the Statistical Institute of Belize (SIB). On July 3, the launch of the Statistical Institute of Belize was announced by the Government.

13/07/2007 Several amendments to the new Business Companies Act have been announced by the British Virgin Islands Financial Services Commission. The amendments will establish new, simplified provisions to carry out the transitioning of bearer share companies to non-bearer share companies.

03/07/2007 Belize was visited by Nicaraguan President Daniel Ortega. On June 29, 2007, he went directly from Mexico to San Pedro with a view to attend 2 sub-regional summits.

03/07/2007 The Trade Promotion Agreement has been signed by Panama and the United States to eliminate tariffs and other barriers to the trade in goods and services between Panama and the US.

02/07/2007 Hong Kong Financial Secretary Henry Tang suggests that issuing renminbi-denominated financial bonds in Hong Kong will reinforce its banking status. Monetary Authority Chief Executive Joseph Yam has also commented on this issue.

29/06/2007 During the recent Conference on the Caribbean held in Washington D.C., the Bahamas was recognised for its significant contribution in fighting drug trafficking, terrorism and other matters of security.

20/06/2007 The President of the United Mexican States, H.E. Mr. Felipe Calderon Hinojosa has been invited to Belize by Prime Minister of Belize, Right Honorable Said Musa. The Mexican President is planning to visit Belize on June 29-30, 2007.

20/06/2007 According to the data released by the Census & Statistics Department of Hong Kong, the BVI is one of the top destinations for Hong Kong's external factor income outflow and inflow in Quarter 1 of 2007.

15/06/2007 Two Cayman government agencies providing assistance to entrepreneurs and small business owners - the Cayman Islands Investment Bureau (CIIB) and the Cayman Islands Development Bank (CIDB) - are planning to work more closely together.

15/06/2007 The government of Hong Kong has published its final report on the public consultation on tax reform to provide recommendations about exploring some options aimed at the development and enlargement of narrow tax base in Hong Kong.

13/06/2007 The opening of the newest branch of Scotiabank in Punta Gorda to offer a full range of personal and business banking services to residents of Punta Gorda and the surrounding villages has been recently announced.

12/06/2007 BVI Chief Minister Orlando Smith has presented his annual State of the Territory Address for 2007 to inform the public on the accomplishments of his government. He said that the GDP of the BVI by the end of 2007 will top the USD 1 billion mark.

09/06/2007 In the beginning of June, Russia's Federal Tax Service (FTS) has announced that Russia should sign agreements on exchange tax information with the Seychelles and other offshore jurisdictions.

02/06/2007 On May 28, 2007, the launch of Unsolicited Electronic Messages Ordinance from June 1 was announced by Hong Kong's Commerce, Industry & Technology Bureau. The Ordinance is to be carried out in 2 phases.

30/05/2007 Financial Secretary Kenneth Jefferson said that in the next financial year (July 2007 - June 2008) strong growth of the Cayman economy is expected to continue. He predicted growth in GDP at 3.5%.

20/05/2007 The State Administration of Industry and Commerce of China announced the leading offshore sources of foreign investment in China's economy. The BVI is the 1st out of 4 major offshore finance centers investing in China.

20/05/2007 At the Swiss Private Bankers' Association's meeting, Hong Kong Financial Secretary Henry Tang invited swiss bankers to use Hong Kong as a regional base for managing their businesses in Asia.

20/05/2007 May 23, Barclays Bank will open a new retail branch of Barclays Bank (Seychelles) at the Providence Industrial Zone, which was chosen by the Bank as far as over the years it has seen an increased level of business activity.

13/05/2007 Recently, the Cayman Islands Financial Services Association (CIFSA), launched 4 years ago, reflected on its achievements in the promotion of an international image of financial services industry in the Cayman Islands.

12/05/2007 At the Hong Kong Economic and Trade Office Seminar named "Hong Kong - New Opportunities as an International Financial Centre", Joseph Yam announced a strategy to make a greater Hong Kong's contribution to the reform and liberalisation of the Mainland China and to maintain the status of Hong Kong as an international financial centre.

05/05/2007 It was announced on May 1 that Emirates Hotels & Resorts has decided to support Seychelles resort - it is investing $253 million in a project in this country.

29/04/2007 The British Virgin Islands, with the investment amount of 700 million, was indicated among the FDI leaders in Malaysia.

27/04/2007 Belize has signed Cooperation Agreement with Central American Court. The agreement between the Supreme Court of Belize and the Central American Court of Justice has been signed by Chief Justice of Belize, Abdulai Conteh, and the President of the Central American Court of Justice, Dr. Ricardo Acevedo Peralta.

27/04/2007 In accordance with the Global Financial Centres Index (GFCI) provided by the City of London Corporation evaluating the competitiveness of 46 major financial centres located all over the world, the Cayman Islands is among the most competitive financial centres in the world. It has been ranked 16th in the list.

27/04/2007 On April 25, 2007, Hong Kong Financial Secretary Henry Tang told legislators that from 2004 to 2005 growth in Hong Kong's combined fund-management business was on 25%.

19/04/2007 The Universal Postal Union has ranked overnight courier service of the Cayman Islands Postal Service as the 5th best in the world. So, Cayman courier service is among the best in the world, which is very essential for every offshore jurisdiction.

18/04/2007 Royal Bank of Canada has agreed to buy 50% of banking unit of Fidelity Bank & Trust International Ltd. based in Bahamas. This move is aimed at expanding the Bank's corporate banking business in the Caribbean.

17/04/2007 The Ministry of Commerce of China has released a statement for the 1st quarter of 2007, according to which the British Virgin Islands is 2nd leading investor in China.

15/04/2007 The Seychelles and Kenya have signed a new bilateral agreement to provide for increasing trade between their capitals Victoria and Nairobi.

12/04/2007 According to the Global Financial Centers Index (GFCI), Hong Kong is the 3rd most competitive financial centre in the world.

02/04/2007 In March, the General Registry of the Cayman Islands Government enhanced Cayman Islands financial services offer by introducing an Arabic language facility. The facility is aimed to enable registration and other certificates to be issued with a company's name not only in English, but also in Arabic.

30/03/2007 India's largest public sector bank in terms of aggregate business, Canara Bank announced that it is opening the 1st branch in Hong Kong, which is an expanding move for the bank.

30/03/2007 According to the National Statistics Bureau, the Seychelles' tourism industry has showed a good start, which was marked by an increase in visitor arrivals of 15% during January, February and March of 2007.

22/03/2007 Cayman Islands-based real estate investor plans to invest $10 billion into the infrastructure of India. The investment will be made by Trikona Capital over the next several years. The company aims to solve the problems of India by being socially conscious.

21/03/2007 BVI Governor David Pearey announced re-appointment of Elton Georges to be the deputy governor of the territory. From April 1, Mr. Georges will replace Mrs. Dancia Penn, which was appointed as Deputy Governor of BVI in 2004.

21/03/2007 Last week Canadian financial services firm Scotiabank launched Scotia Private Client Group in the Bahamas, which is the first step of the announced expanding firm's wealth management services platform across the Caribbean, in the regions of Central and Latin America.

21/03/2007 The Panama Canal Authority (ACP) held a public hearing in Balboa, Panama, with the participation of fourteen representatives from shipping and government.

12/03/2007 At the 14th APEC SME Ministerial Meeting, Director-General of the Hong Kong Trade & Industry department, stated that Hong Kong's favourable business environment is underpinned by the rule of law, free flow of capital and information, a low and simple tax regime, an independent judiciary and an efficient government.

15/03/2007 Fitch Ratings has assigned an "A'" rating to Belize Sovereign Investments III Limited Notes (BSI III). The rating assigned to BSI III notes is substantially supported by the financial strength of the insurance provider and by the default probability of the Belize's government.

10/03/2007 The Embassy of Seychelles in the capital of Italy, Rome, was opened in the end of February. The establishment of the Embassy is aimed at reinforcing the diplomatic relationship between the Seychelles and Italy.

09/03/2007 The Cayman Islands Stock Exchange continues its growth, which was confirmed by Financial Secretary Kenneth Jefferson on March 5, 2007. He announced that the Cayman Islands Stock Exchange continues to be self-sufficient and profitable.

09/03/2007 On February 28, 2007 the negotiations on the British Virgin Islands constitution were successfully concluded, after the 4th round of talks was held between delegations from the BVI and UK met in London on February 26-28.

03/03/2007 According the Cayman government, the Cayman Islands is going on maintaining its leadership position in international financial services and national economic performance and is moving ahead of its competitors. Cayman's ratings have been raised by an international credit rating agency and an independent provider of economic information, Moody's.

02/03/2007 The closure of debt exchange has been announced in Belize. The bonds to be issued will replace 98% of Belize's commercial external debt. Under the new plan, Musa expects to save USD 301 million in debt servicing costs.

21/02/2007 According to the announcement made by the Hong Kong Monetary Authority (HKMA) on February 7, 2007, Hong Kong's official foreign currency reserve assets amounted to the total of USD 133.7 billion in the end of January 2007.

21/02/2007 In January 2007, BVI-registered companies have invested 1.02 billion USD in China. So, the British Virgin Islands remains the 2nd in the list of countries that make investments in rapidly growing Chinese economy.

16/02/2007 Butterfield Bank announced the record income for the Group for the full year 2006. Its net income reached $134.1 million. Butterfield Bank (Cayman) Limited made a great contribution to the performance of the Group as it has reached a record net income of $53.4 million, which is up 16.5% year on year ($7.6 million).

14/02/2007 As a result of the visit of Chinese Head of State to the Seychelles in February, 2007, China and Seychelles agreed to promote pragmatic co-operation in tourism, human resources, fishery and other areas.

12/02/2007 International offshore expert firm Ogier has completed its merger with WSmiths in the British Virgin Islands. The merger gave the firm access to 3 further offshore jurisdictions. It became effective from February 1, 2007.

09/02/2007 Hong Kong Monetary Authority announced the amount of official foreign currency reserve assets on the end of January 2007, which totalled at USD 133.7 billion.

05/02/2007 Members of the National Economic Planning Council of Seychelles were looking for ways to increase the economic growth of the country. Their meeting took place on January 31, 2007.

01/02/2007 Rewrite of the Companies Ordinance will bring substantial benefits to Hong Kong, especially in strengthening competitiveness of the jurisdiction and its status as a global business and financial centre.

29/01/2007 Hong Kong is to receive benefits from increased links with the market of mainland China, as stated by Hong Kong Monetary Authority Chief Executive.

26/01/2007 New Anti-Money Laundering rules are introduced by Hong Kong's Security Bureau. Customers' identities and record transactions of HK$ 8 000 dollars or more must be verified by remittance agents and money changers.

24/01/2007 In 2006 the number of tourists in Seychelles was 140 627. According to the chief executive officer of the Seychelles Tourism Board, the country hopes to increase this record figure, with a target of 10% growth in overall arrivals.

19/01/2007 One of the most important annual conferences, Cayman Business Outlook 2007, took place in Cayman. It offered a glimpse of the Cayman future as it discussed numerous topics including how the US has positioned itself as the world's government in the 21st century and regional immigration trends influencing business.

19/01/2007 Minister of Education and Labour Hon. Francis Fonseca announced at a press conference that the minimum wage for agriculture workers will increase by 25% and for shop assistants and domestics by 33%. The changes were announced on January 17 and will take effect on April 1.

17/01/2007 The Heritage Foundation has ranked Hong Kong as the freest economy in the world for the 13th consecutive year. It is followed by Singapore and Australia.

12/01/2007 Deutsche Bank has been awarded as the best private bank in the Cayman Islands in the Euromoney private banking survey 2007. Located in Cayman, Jersey and Guernsey, Deutsche Bank for the first time has been indicated in the top spot of the rating.

11/01/2007 Maples and Calder, the offshore law firm, has acted as Cayman Islands counsel to the issuer, ADIB Sukuk Company Ltd. in establishing its USD 5 billion sukuk issuance programme. This is the 1st Islamic-compliant bond to be listed on the London Stock Exchange.

11/01/2007 Panama banks Banco General and Banco Continental have come to the agreement to merge. This merger will create one of the largest financial services companies in the region. The merger is expected to close during 2007.

07/01/2007 An immigration framework has been developed by the Bahamas financial services industry. The framework is designed in order to help the jurisdiction compete with other offshore financial centres for skilled workers.

06/01/2007 Comparing to 2005, property sale and purchase agreements in Hong Kong in 2006 fell 19.9%. This fact was released on January 4, 2007 by the Land Registry.

03/01/2007 Financial Secretary of Hong Kong, Henry Tang understands people's high expectations for the 2007-2008 Budget, however, he suggests the necessity of a balance between the interests of different parties when devising it.

03/01/2007 Moody's Investor Services has issued a favourable report on the Bahamas. According to its latest Credit Opinion on the country, official foreign exchange reserves remain ample relative to debt service requirements, despite a fall in the 1st 10 months of 2006.

29/12/2006 In the end of December, an open letter addressed to the international financial community was published by the International Monetary Fund. The IMF has welcomed the progress, which Belize authorities have made.

21/12/2006 In November, inflation in Hong Kong accelerated to 2.2% on higher clothing, housing and food prices. To compare this figure, the Census and Statistics Department indicates 2% inflation in October.

18/12/2006 At announcing the Appropriation Bill 2007, the principal secretary for Finance, Lekha Nair, confirmed the fact that the Seychelles had cleared all its debts to multi-lateral organizations, which improved its international profile.

18/12/2006 The Belize Government has launched an offer to exchange the country's outstanding commercial indebtedness in return for new USD bonds that will be issued by Belize.

08/12/2006 The Inter-American Development Bank announced that it had approved a USD 25 million fast-disbursing loan for Belize to support its government's agenda of reforms regarding restoring macroeconomic and financial stability, improving its business climate and raising investors' confidence.

01/12/2006 After quite a hard year 2005, the Seychelles has been experiencing an impressive economic growth of 4.5% in 2006. The economic outlook of the Seychelles' situation was presented by the International Monetary Fund mission after its visit in November in the form of concluding statements.

01/12/2006 In accordance with the Bahamas Financial Services Board (BFSB), new Private Trust Companies (PTC) legislation has been passed in the parliament of the Bahamas to come into effect by the end of the year.

23/11/2006 Recently, the Ministry of Commerce of China has announced that realized FDI on the territory rose in October, after the slight decline within the previous months. This was the result of the changes in legislation regarding acquisition of Chinese companies by foreign investors. So, BVI is the 2nd largest foreign investor in China.

17/11/2006 A bilateral Double Taxation Avoidance Agreement between the Seychelles and the United Arabs Emirates signed on September 19 was approved by the United Arabs Emirates' cabinet on November 12.

10/11/2006 According to United Nations Development Programme's (UNDP) 2006 Human Development Report, the Seychelles takes the 47th position in the rating of countries with high human development. It has been ranked 47th among 63 countries with high human development.

08/11/2006 The BVI Legislative Council has recently passed new legislative acts that amend the existing legislation. The BVI Legislative Council passed BVI Business Companies (Amendment) Act, 2006 on September 22, 2006.

08/11/2006 According to the IMF, the economy of Hong Kong is expected to grow by 6% this year and maintain growth of 5% in 2007. The IMF stated that growth prospects will depend on the management and expanding the evolving financial integration with the Mainland.

07/11/2006 Panama hopes to become Argentina's replacement on the UN Security Council after Latin American and Caribbean Group (GRULAC) of the UN Security Council delayed as far as some English-speaking Caribbean members were reportedly upset about not being adequately involved in this process.

31/10/2006 Belize will take part in changing Caribbean economy as it will be represented by its Prime Minister, Rt. Hon. Said Musa, at an upcoming conference in London called "Transforming the Caribbean Economy - new avenues for investment".

30/10/2006 In Hong Kong, two new banking regulations have been gazetted to be tabled at the Legislative Council on November 1. These are the Banking (Capital) Rules and Banking (Disclosure) Rules. The rules are to be in force from January 1, 2007.

23/10/2006 Butterfield Bank (Cayman) Limited announced providing a Gold mortgage as a  Butterfield Lifestyle Mortgages product. A 10% down payment, up to 25 years repayment term, a low interest rate and low bank fee are the conditions set for both existing and new clients.

18/10/2006 According to the UN's World Investment Report 2006, Hong Kong attracted USD 35.9 billion in foreign direct investment (FDI) last year, up 5.6% on 2004. So, Hong Kong is the 2nd-largest FDI destination in Asia after China, which amassed USD 72.4 billion.

16/10/2006 Hong Kong is likely to refuse discussing joining the EU's tax information-sharing scheme applied under the Savings Tax Directive. The EU would like to sign the Agreement and include information-sharing there.

13/10/2006 Seychelles cleared its credit to the World Bank, as of October 6, 2006. Now all the bank's loans to the Seychelles or the loans guaranteed by the Seychelles have been restored to accrual status. The country's arrears to the International Bank for Reconstruction and Development amounted to approximately USD 770 thousand.

11/10/2006 Offshore law firm Ogier has merged with WSmiths in the BVI. This gives Ogier access to 3 further offshore jurisdictions. The merger will come into effect from February 1, 2007.

02/10/2006 Standard & Poor's Ratings Services assigned its 'B' credit rating to the Seychelles - 'B' long-term and 'B' short-term foreign currency sovereign ratings, and its 'B+' long-term and 'B' short-term local currency sovereign ratings - as well as characterized its outlook as stable.

30/09/2006 The Government of Belize signed an Association Agreement with the Central American Bank for Economic Integration. The agreement enables Belize to be incorporated to CABEI as a non-founding Beneficiary Member.

28/09/2006 The Government of Belize admitted last week that it was close to default and will have to restructure is debt, although a deficit of GDP was reduced from 9% to 3% in just two years. The Prime Minister Said Musa denies the forthcoming devaluation.

19/09/2006 Seychelles and the United Arabs Emirates signed a bilateral Double Taxation Avoidance Agreement in Singapore. The new agreement will strengthen the existing economic relationship between the two countries and will provide an inducement to people of both countries to draw their attention to increasing investment, trade and employment opportunities.

08/09/2006 At a meeting of Panama's President and Executive President of the Central American Bank for Economic Integration (CABEI) agreed that by the end of 2006 Panama will become an 'extra-regional' partner of CABEI. This status will provide Panama with the access of funding of about USD 60 million.

01/09/2006 Energy and Environment Capital Management LLC and Coastal Partners Ltd. have joined their forces in launching an offshore version of the Energy & Environment Fund in the Bahamas.

31/08/2006 Anguilla Financial Services Commission issued a letter regarding  compliance of company managers and trust companies with the Anti-Money Laundering Regulations.

24/08/2006 Anguilla Financial Services Commission has published the Notice of Revocation of the licence of Stewart Trust Limited, formerly known as Sterling Trust (Anguilla) Limited.

14/08/2006 Jersey has included Cayman Islands into the list of states and territories having an equivalent anti-money laundering legislation.

12/07/2006 The Bahamas Central Bank has reported that the Bahamas Economy is to a great extent maintained by its financial services. The Regulatory Authority published its Quarterly Review revealing the financial sector added in the Bahamas' GDP between 15% - 20% of its value.

28/06/2006 Chile and Panama signed the free trade agreement that opens up 92.5% of the Chilean economy to Panamanian producers. Now most Panamanian products will enjoy a zero tariff when entering Chile's market.

27/06/2006 The BVI is experiencing an unprecedented economic growth. Orlando Smith, BVI Chief Minister, has recently in his speech summed up the successful economic development of the British Virgin Islands as well as provided his view into the country's future.

27/06/2006 Bahamas survey that was published by the Bahamas' Government today confirmed the position of the country as the leader in the three core areas of private banking, trusts and corporate services.

02/06/2006 Government of the Cayman Islands announced the changes in the board of directors of the Cayman Islands Monetary Authority. Dr Christopher Rose and Professor Willian Gilmore were appointed, and Dr Warren Coats was re-appointed for a three-year term.

18/04/2006 The Commonwealth of the Bahamas has received the 'A-' long-term and 'A-2' short term Sovereign Credit Ratings from Standard & Poor's. S&P analysts noted economic stability of Bahamas and rapid development of the finance and tourism sectors.

01/12/2005 The Central Bank of Belize announced that United Exchange International Bank is not licensed to provide banking and financial business in or from within Belize.

25/11/2007 Recently, the Seychelles International Business Authority has sponsored Asia Offshore Association (AOA) Conference in Vietnam, and International Tax Planning Association (ITPA) meeting in Hong Kong.

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