Business http://www.royalgazette.com Business en-us Webber named as BDAs new CEO <img src="/storyimage/RG/20140424/BUSINESS02/140429854/AR/0/AR-140429854.jpg" width="100" align="left" /></a> Bermudian Ross Webber has been named as the new chief executive officer of the Bermuda Business Development Agency BDA. Mr Webber will join the BDA from Government, where he is currently Permanent Secretary of the Ministry of Education and Economic Development, a role he has filled for two years. He will move into his new post on. .. http://www.royalgazette.com/article/20140424/BUSINESS02/140429854&source=RSS Thu, 24 Apr 2014 23:01:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS02/140429854&source=RSS <img src="/storyimage/RG/20140424/BUSINESS02/140429854/AR/0/AR-140429854.jpg" width="100" align="left" class="main-image" /></a> Bermudian Ross Webber has been named as the new chief executive officer of the Bermuda Business Development Agency BDA. Mr Webber will join the BDA from Government, where he is currently Permanent Secretary of the Ministry of Education and Economic Development, a role he has filled for two years. He will move into his new post on. .. BFM and Butterfield gain Butterfield Bank and BFampM Ltd shares rose in Bermuda Stock Exchange trading today. Butterfield gained five cents, of 2. 5 percent, to close at 2. 05 as 97,248 shares changed hands. Insurer BFampM shares added 49 cents, or 2. 8 percent, on the trading of 2,000 shares, to close on 17. 99. The Royal GazetteBermuda Stock. .. http://www.royalgazette.com/article/20140424/BUSINESS06/140429853&source=RSS Thu, 24 Apr 2014 21:48:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS06/140429853&source=RSS Butterfield Bank and BFampM Ltd shares rose in Bermuda Stock Exchange trading today. Butterfield gained five cents, of 2. 5 percent, to close at 2. 05 as 97,248 shares changed hands. Insurer BFampM shares added 49 cents, or 2. 8 percent, on the trading of 2,000 shares, to close on 17. 99. The Royal GazetteBermuda Stock. .. HSBC sees growing opportunity in China The easing of currency restrictions by Chinese authorities is opening up opportunities for investors that could dramatically increase within the next few years. That was the clear message for clients and staff of HSBC Bermuda, who were told in a briefing at the banks Bermuda China Day yesterday that the Chinese currency, the renminbi,. .. http://www.royalgazette.com/article/20140424/BUSINESS/140429862&source=RSS Thu, 24 Apr 2014 16:59:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS/140429862&source=RSS The easing of currency restrictions by Chinese authorities is opening up opportunities for investors that could dramatically increase within the next few years. That was the clear message for clients and staff of HSBC Bermuda, who were told in a briefing at the banks Bermuda China Day yesterday that the Chinese currency, the renminbi,. .. Bar Council moves to uphold the standards of legal profession <img src="/storyimage/RG/20140424/BUSINESS/140429865/AR/0/AR-140429865.jpg" width="100" align="left" /></a> The Bermuda Bar Council wants to ensure legal practitioners meet a set of standards for post-qualification experience before they go into sole practice. The Bermuda Bar Association president Justin Williams, who was re-elected to the position for a second year at the professional organisations annual general meeting yesterday, told. .. http://www.royalgazette.com/article/20140424/BUSINESS/140429865&source=RSS Thu, 24 Apr 2014 16:06:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS/140429865&source=RSS <img src="/storyimage/RG/20140424/BUSINESS/140429865/AR/0/AR-140429865.jpg" width="100" align="left" class="main-image" /></a> The Bermuda Bar Council wants to ensure legal practitioners meet a set of standards for post-qualification experience before they go into sole practice. The Bermuda Bar Association president Justin Williams, who was re-elected to the position for a second year at the professional organisations annual general meeting yesterday, told. .. Govt We have turned corner <img src="/storyimage/RG/20140424/BUSINESS01/140429877/AR/0/AR-140429877.jpg" width="100" align="left" /></a> Bermuda is on the road to economic recovery despite the loss of more than 1,100 jobs, according to the latest Government figures. Bermuda College economics lecturer Craig Simmons said that there was evidence that Bermuda was becoming better value for money in terms of international business and tourism. He added Thats one thing. .. http://www.royalgazette.com/article/20140424/BUSINESS01/140429877&source=RSS Thu, 24 Apr 2014 12:10:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS01/140429877&source=RSS <img src="/storyimage/RG/20140424/BUSINESS01/140429877/AR/0/AR-140429877.jpg" width="100" align="left" class="main-image" /></a> Bermuda is on the road to economic recovery despite the loss of more than 1,100 jobs, according to the latest Government figures. Bermuda College economics lecturer Craig Simmons said that there was evidence that Bermuda was becoming better value for money in terms of international business and tourism. He added Thats one thing. .. Carmilani Allied Worlds year off to a great start <img src="/storyimage/RG/20140424/BUSINESS04/140429883/AR/0/AR-140429883.jpg" width="100" align="left" /></a> Allied World has reported a 79. 9 percent combined ratio for the first quarter of 2014, an achievement which has pleased chief executive officer Scott Carmilani as earnings crushed analysts expectations. The Switzerland-headquartered reinsurers underwriting income grew 55. 7 percent, pushing operating profits for the first quarter up to. .. http://www.royalgazette.com/article/20140424/BUSINESS04/140429883&source=RSS Thu, 24 Apr 2014 01:16:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS04/140429883&source=RSS <img src="/storyimage/RG/20140424/BUSINESS04/140429883/AR/0/AR-140429883.jpg" width="100" align="left" class="main-image" /></a> Allied World has reported a 79. 9 percent combined ratio for the first quarter of 2014, an achievement which has pleased chief executive officer Scott Carmilani as earnings crushed analysts expectations. The Switzerland-headquartered reinsurers underwriting income grew 55. 7 percent, pushing operating profits for the first quarter up to. .. Aspen raises dividend after profit rises by a third <img src="/storyimage/RG/20140424/BUSINESS04/140429884/AR/0/AR-140429884.jpg" width="100" align="left" /></a> Aspen Insurance Holdings Ltds first-quarter profit rose by nearly a third compared to the same period last year to 120. 4 million, as the company trounced Wall Streets expectations. The Bermuda-based insurer and reinsurer, which is the subject of a 3. 2 billion hostile takeover bid from Endurance Specialty Holdings, also increased its. .. http://www.royalgazette.com/article/20140424/BUSINESS04/140429884&source=RSS Thu, 24 Apr 2014 01:15:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS04/140429884&source=RSS <img src="/storyimage/RG/20140424/BUSINESS04/140429884/AR/0/AR-140429884.jpg" width="100" align="left" class="main-image" /></a> Aspen Insurance Holdings Ltds first-quarter profit rose by nearly a third compared to the same period last year to 120. 4 million, as the company trounced Wall Streets expectations. The Bermuda-based insurer and reinsurer, which is the subject of a 3. 2 billion hostile takeover bid from Endurance Specialty Holdings, also increased its. .. Failure to act promptly can be costly for lawyers <img src="/storyimage/RG/20140424/BUSINESS/140429885/AR/0/AR-140429885.jpg" width="100" align="left" /></a> A recent court case in the United Kingdom provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients in order to avoid claims of negligence. In Feltham v Bouskell, the testatrix was a feisty elderly woman with substantial wealth. She had a long-standing. .. http://www.royalgazette.com/article/20140424/BUSINESS/140429885&source=RSS Thu, 24 Apr 2014 01:14:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS/140429885&source=RSS <img src="/storyimage/RG/20140424/BUSINESS/140429885/AR/0/AR-140429885.jpg" width="100" align="left" class="main-image" /></a> A recent court case in the United Kingdom provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients in order to avoid claims of negligence. In Feltham v Bouskell, the testatrix was a feisty elderly woman with substantial wealth. She had a long-standing. .. BSX unchanged but active The BSX closed unchanged yesterday despite an active day of trading. Bank of NT Butterfield Ltd saw 800 shares move at an unchanged 2. 00, while Bank of Butterfield Preference Shares did decline, 46 trading at 1190. 00, down 5. 01. KeyTech also saw movement with 4,500 trading at an unchanged 5. 01. A total of 5,300 shares moved. .. http://www.royalgazette.com/article/20140424/BUSINESS06/140429892&source=RSS Thu, 24 Apr 2014 00:58:00 GMT http://www.royalgazette.com/article/20140424/BUSINESS06/140429892&source=RSS The BSX closed unchanged yesterday despite an active day of trading. Bank of NT Butterfield Ltd saw 800 shares move at an unchanged 2. 00, while Bank of Butterfield Preference Shares did decline, 46 trading at 1190. 00, down 5. 01. KeyTech also saw movement with 4,500 trading at an unchanged 5. 01. A total of 5,300 shares moved. .. Bermuda facing brain drain Nearly half the Islands residents have thought about leaving Bermuda due to the economic climate. Adults aged 18 to 34 are the likeliest age bracket to consider leaving the Island for fairer shores 62 percent said yes, according to a survey commissioned by The Royal Gazette. Overall, 51 percent of respondents said they wouldnt. .. http://www.royalgazette.com/article/20140423/BUSINESS01/140429913&source=RSS Wed, 23 Apr 2014 02:20:00 GMT http://www.royalgazette.com/article/20140423/BUSINESS01/140429913&source=RSS Nearly half the Islands residents have thought about leaving Bermuda due to the economic climate. Adults aged 18 to 34 are the likeliest age bracket to consider leaving the Island for fairer shores 62 percent said yes, according to a survey commissioned by The Royal Gazette. Overall, 51 percent of respondents said they wouldnt. .. Charman resolute in determination to complete Endurance-Aspen merger deal <img src="/storyimage/RG/20140423/BUSINESS04/140429920/AR/0/AR-140429920.jpg" width="100" align="left" /></a> Even when he was between jobs 15 months ago, John Charman had a merger between Bermuda reinsurance rivals Endurance Specialty Holdings Ltd and Aspen Insurance Holdings Ltd in his sights. In an interview with The Royal Gazette, Mr Charman said the two companies appeared to him to be ripe for a merger and extraordinarily complementary. http://www.royalgazette.com/article/20140423/BUSINESS04/140429920&source=RSS Wed, 23 Apr 2014 01:07:00 GMT http://www.royalgazette.com/article/20140423/BUSINESS04/140429920&source=RSS <img src="/storyimage/RG/20140423/BUSINESS04/140429920/AR/0/AR-140429920.jpg" width="100" align="left" class="main-image" /></a> Even when he was between jobs 15 months ago, John Charman had a merger between Bermuda reinsurance rivals Endurance Specialty Holdings Ltd and Aspen Insurance Holdings Ltd in his sights. In an interview with The Royal Gazette, Mr Charman said the two companies appeared to him to be ripe for a merger and extraordinarily complementary. KeyTech down two percent KeyTech Ltd saw 500 shares move in trading yesterday, closing the day down 0. 10, or two percent, at 5. 01. Bank of NT Butterfield Ltd was unchanged at 2. 00 on 70 shares moving. The BSX finished down 1. 23, or 0. 09 percent, closing at 1,420. 64. A total of 570 shares changed hands, and the value of trading for the day was. .. http://www.royalgazette.com/article/20140423/BUSINESS06/140429922&source=RSS Tue, 22 Apr 2014 22:55:00 GMT http://www.royalgazette.com/article/20140423/BUSINESS06/140429922&source=RSS KeyTech Ltd saw 500 shares move in trading yesterday, closing the day down 0. 10, or two percent, at 5. 01. Bank of NT Butterfield Ltd was unchanged at 2. 00 on 70 shares moving. The BSX finished down 1. 23, or 0. 09 percent, closing at 1,420. 64. A total of 570 shares changed hands, and the value of trading for the day was. .. Job numbers continued decline through August 2013 <img src="/storyimage/RG/20140422/BUSINESS/140429933/AR/0/AR-140429933.jpg" width="100" align="left" /></a> Bermuda suffered a year-over-year loss of more than 1,100 jobs through August last year, according to the latest Government employment figures. The Department of Statistics 2014 edition of the Bermuda Job Market Employment Briefs Employment figures, released yesterday, showed the terrible, ongoing impact on Bermudians, of deep-seated. .. http://www.royalgazette.com/article/20140422/BUSINESS/140429933&source=RSS Wed, 23 Apr 2014 01:07:00 GMT http://www.royalgazette.com/article/20140422/BUSINESS/140429933&source=RSS <img src="/storyimage/RG/20140422/BUSINESS/140429933/AR/0/AR-140429933.jpg" width="100" align="left" class="main-image" /></a> Bermuda suffered a year-over-year loss of more than 1,100 jobs through August last year, according to the latest Government employment figures. The Department of Statistics 2014 edition of the Bermuda Job Market Employment Briefs Employment figures, released yesterday, showed the terrible, ongoing impact on Bermudians, of deep-seated. .. Driving strategy the CFOs new role <img src="/storyimage/RG/20140422/BUSINESS/140429957/AR/0/AR-140429957.jpg" width="100" align="left" /></a> The chief financial officer of most companies has been focused on the regulatory requirements of the Sarbanes-Oxley Act, and then the cost-cutting requirements of the recession. A KPMG research document stated Diverted by the need to respond to such pressures, finance executives enjoyed too few opportunities to elevate their financial. .. http://www.royalgazette.com/article/20140422/BUSINESS/140429957&source=RSS Tue, 22 Apr 2014 17:10:00 GMT http://www.royalgazette.com/article/20140422/BUSINESS/140429957&source=RSS <img src="/storyimage/RG/20140422/BUSINESS/140429957/AR/0/AR-140429957.jpg" width="100" align="left" class="main-image" /></a> The chief financial officer of most companies has been focused on the regulatory requirements of the Sarbanes-Oxley Act, and then the cost-cutting requirements of the recession. A KPMG research document stated Diverted by the need to respond to such pressures, finance executives enjoyed too few opportunities to elevate their financial. .. BFM boss sees signs of recovery in Islands economy as profits rise <img src="/storyimage/RG/20140422/BUSINESS03/140429935/AR/0/AR-140429935.jpg" width="100" align="left" /></a> Insurer BFampM Ltd recorded net income for 2013 of 25. 2 million and more than half of that profit came from outside Bermuda. The company announced its full-year results this morning, noting that the return on shareholders equity was 11. 7 percent, a double-digits return for the 13th consecutive year. BFampM chief executive. .. http://www.royalgazette.com/article/20140422/BUSINESS03/140429935&source=RSS Tue, 22 Apr 2014 16:17:00 GMT http://www.royalgazette.com/article/20140422/BUSINESS03/140429935&source=RSS <img src="/storyimage/RG/20140422/BUSINESS03/140429935/AR/0/AR-140429935.jpg" width="100" align="left" class="main-image" /></a> Insurer BFampM Ltd recorded net income for 2013 of 25. 2 million and more than half of that profit came from outside Bermuda. The company announced its full-year results this morning, noting that the return on shareholders equity was 11. 7 percent, a double-digits return for the 13th consecutive year. BFampM chief executive. ..