Grey skies in the Caribbean.

The article discusses a ruling of the Organisation for Economic Co-operation and Development (OECD) on the tax status of the Cayman Islands. According to the article, the OECD has placed the Cayman Islands on a list of non-cooperative tax havens. Details are also provided about budget proposals of U.S. President Barack Obama which will eliminate U.S. corporate tax loopholes allowing companies to utilize offshore subsidiaries to avoid taxes.