News & Events

This public holiday holds significant cultural and historical importance for Caymanians, marking the beginning of recorded history in the islands. The day is celebrated with various community events, cultural performances, and historical reenactments that highlight the islands’ rich heritage. Traditional activities often include boat races, beach gatherings, and local festivals showcasing Caymanian cuisine.

The celebration also serves as a reminder of the islands’ evolution from isolated Caribbean outposts to a modern international financial centre. While the name “Las Tortugas” eventually gave way to “Cayman” (derived from the Carib word for marine crocodiles), the sea turtle remains an important symbol of the islands’ identity and appears on the Cayman Islands’ flag, currency, and coat of arms. Discovery Day not only honours the islands’ historical discovery but also celebrates the unique culture and traditions developed in the Cayman Islands over the centuries.

New Zealand has announced a significant increase in its film industry incentives, allocating an additional NZ$577 million ($339 million) to its International Screen Production Rebate scheme. This move comes in response to US President Donald Trump’s recent announcement of 100% tariffs on films produced outside the United States.

Finance Minister Nicola Willis emphasised the country’s commitment to remaining a premier filming destination, despite broader government spending cuts. The enhanced rebate program, established in 2014, offers 20% cash rebates for feature films spending over NZ$15 million and television shows exceeding NZ$4 million in production costs.

The decision aims to protect New Zealand’s thriving film sector, which employs 24,000 people and generates NZ$3.5 billion annually, with one-third of revenue coming from the US. While competing markets like Australia, Canada, and the UK offer even more generous benefits, New Zealand, famous for hosting productions like “The Lord of the Rings” trilogy, continues to position itself as an attractive filming destination despite international pressures.

Read the original article here: https://www.msn.com/en-us/money/companies/new-zealand-boosts-movie-production-incentives-after-trumps-100-tariff-plan/ar-AA1ES01s?ocid=BingNewsVerp

The Bar Council of India (BCI) has introduced landmark amendments to its rules, significantly expanding the scope of foreign law firms’ operations in India. This reform marks a crucial shift in India’s legal services market.

Under the new rules, foreign law firms can now represent clients in all international arbitration cases in India and practice before courts through their Indian-licensed advocates and partners. This is a substantial change from the previous restriction to “non-litigious” matters only. The amendments also introduce the concept of “Indian-foreign law firms,” allowing Indian law firms to register as foreign entities while maintaining their domestic practice rights. This enables Indian lawyers to work with foreign law firms without surrendering their Bar license, creating a competitive environment in the international legal space.

The reform is particularly significant for India’s aspirations to become a global arbitration hub. Foreign firms can now handle arbitrations involving domestic law, provided their clients are primarily foreign-based. This change addresses long-standing demands from international businesses operating in India and aligns with global legal practice standards.

Read the original article here: https://www.msn.com/en-in/news/india/bci-amends-rules-to-let-foreign-law-firms-operate-with-partners-in-india/ar-AA1ENfgM?ocid=BingNewsVerp&cvid=b6cbfe42ee5a4fc2e84d8b613a2b5c61&ei=24