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GlobeNet Communications Group Ltd., the holding company of operating subsidiary TeleBermuda International Ltd., has contracted IBM Global Services to research the economic potential of a proposed submarine cable system running from Bermuda to South A...

After launching a media campaign to defend its turf in the local telecommunications market -- and crying poverty -- the Bermuda Telephone Co. Ltd. is itself under attack. Yesterday, long distance provider TeleBermuda International Ltd. criticised BTC...

30, a small gain of 1.4 percent compared to the same period in 1997. Operating revenues increased $8.6 million to $42.6 million over the same period. However, expenses increased by a similar amount to $35.3 million, according to BTC. The holding comp...

acquisitions, Bermuda-based Exel Ltd. yesterday reported fourth quarter earnings of $129.8 million, a 39 percent increase over the same period in 1997. Profit from operations for the year ended November 30 increased 26 percent to $437.3 million. Inco...

property and casualty businesses of Cigna Corp. In a telephone interview from Philadelphia where the deal was signed ACE chairman, president and chief executive officer Brian Duperreault said the purchase allows the company to diversify significantly...

Bermuda-based RenaissanceRe Holdings Ltd. has decided it's better off sticking with its core catastrophe reinsurance business on the Island. The company yesterday announced it was putting the business units of its US-based subsidiary Nobel Insurance ...

the decision by Minister of Telecommunications Renee Webb effectively lowering the revenue it earns from long distance calls. The company has also applied for a stay against the slash in revenue it receives from the international telecommunications c...

Bermuda's three banks have settled into trading in the new currency. The Bank of Bermuda's Peter Byrne, vice president of treasury operations, said staff were working on New Year's day and over last weekend converting accounts and testing systems in ...

"I give up,'' a local financial analyst said last week. "Just buy anything with a dot com or dot net in its name and it can't have any profits or even revenue.'' It is getting weird out in cyberland. He was outlining the marks of stocks whose values...

Bermuda-based reinsurers have taken a five percent or a $6 billion share of the global market, according to a survey of trends in the industry by Swiss Re. It's a market where bigger is better as insurers seek quality when ceding premiums to reinsure...