Bermuda Business is struggling to get back to normal following Tuesday's horrific terrorist attack on the World Trade Centre in New York and businesses across America will observe a period of silence today to remember the victims.

US President George Bush has called for a day of mourning in the US today, and with many businesses in Bermuda having connections to offices affected by the tragedy, it is likely that the vast majority of local offices will also observe a period of silence.

The Bermuda Stock Exchange (BSX) issued a statement last night saying: "Following the announcement of a trading halt to be carried out by various European stock exchanges and other similar actions to be observed in Europe on Friday, the BSX will observe a three-minute period of silence and a simultaneous trading halt at 10 a.m. (AST), 9 a.m. (EST), Friday September 14, to express its sympathy and condolences to the victims of the tragic events that took place in the United States on Tuesday."

US business leaders, market watchers and equity analysts have called for investors not to spark a panic selling spree when US stock markets open on Monday which would send already depressed stock prices further into the depths of recession.

David Ezekiel of the International Companies Division of the Hamilton Chamber of Commerce said yesterday that everyone was sympathetic to what the situation may be in anyone else's office and that people were not communicating on non-essential or unappropriate matters.

He also said that most of the calls his department had received were from people in Bermuda trying to find out about friends and colleagues in New York and Washington to see if they were okay, and calls from the US letting people in Bermuda know they were okay.

He said: "People are handling it very well and it will take a while before things get back to normal."

There have been some minor disruptions to local business and the BSX said on Wednesday that they were informed by Schroders (Bermuda) Limited that they had suspended NAV calculation for several of their listed funds until further notice due to Tuesday's attack.

Yesterday however, the BSX was informed by the Board of Directors for the All Points Corporate Money Funds Limited and the All Points Global Cash Funds Limited that they have lifted the suspension of the NAV's due to changed circumstances.

NAV's for the following funds will now be reported as normal with no disruption in service: All Points Corporate Money Funds - Classes A & B, and all seven of the All Points Global Cash Funds - US Dollar Fund, Canadian Dollar Fund, Sterling Fund, Swiss Franc Fund, Euro Fund Australian Dollar Fund and Japanese Yen Fund.

CEO of the BSX Greg Wojciechowski said yesterday the exchange had been trading as normal since the tragedy, but the secondary listed shares of US equities had been suspended following requests by the companies.

However, he said that Bermuda equities had been trading as normal and that it was "business as usual" at the BSX.

The Bank of Bermuda have also reported that business is carrying on as usual and their services had remained largely unchanged apart from the suspension of contractual settlement for US securities.

Local Bermuda Dollar banking was unaffected with EasyLink ATM's operating for both debit and credit cards, with other credit-related facilities subject to some restrictions depending on global markets over the next few days.

Although they did not have offices in the World Trade Centre, all ACE Group offices in Bermuda were closed on Wednesday but re-opened for business yesterday.

Chairman and Chief Executive of Ace Ltd. Brian Duperreault said yesterday: "The human toll is beyond comprehension. While we believe that the lives of all Ace employees who worked near the Trade Centre were spared none of us has been left unscarred by this horrific series of events."

Other international companies with offices in Bermuda and in the World Trade Centre including Aon and Marsh and Mclennan were hit particularly hard by the attack and hundreds of people are still missing from the two companies.

Anne Kast of Kast Investment Management said yesterday that they were saddened by this week's events but they had taken the opportunity to implement a new business plan for the future which they did not have time for before.

She said the halt in air travel had affected their access to foreign media such as the Wall Street Journal as well as their communication with foreign business interests.

Repercussions from this week's attack were felt around the world and on Wednesday, London's financial community held a minute long silence to commemorate the dead.

In the age of telecommunications, businesses communicate with each other across the globe on a daily basis and there have been reports that many business people in London had close business relationships with many of those who died in Tuesday's attacks, and many fear they may be next.

Indeed, Dean White, a director of Swiss Re in London's tallest building - Tower 42 - told reporters: "I was standing outside the tower and a young woman stood there and crossed herself three times before she walked through the revolving doors."

Executive Director of BIBA Pat Phillip-Bassett could not be contacted for comment yesterday.