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Bermuda has been named by the European Union as a country that is not doing enough to crack down on tax avoidance. The Island was one of 30 countries on the list published by the EU’s executive Commission today. “These tax havens cover the five conti...

The reinsurance industry is under threat, according to financial newspaper The Economist. In an article focused on the industry, the UK-based publication said insurers were increasingly bypassing reinsurers and offloading their risk directly to the c...

Former Digicel Bermuda chief executive officer Wayne Caines is consulting for rival telecoms firms Bermuda CableVision, The Royal Gazette has learned. Mr Caines left his Digicel post last July after six years with the company, but remained connected ...

Typical households will see their electricity bills rise by 7 per cent or more, if Belco’s application to increase its rates is granted. Under proposals submitted to the Energy Commission yesterday by the utility, residential tariffs, or the base rat...

Belco urgently needs to be allowed to increase its electricity rates in order for Bermuda to continue to enjoy a “first-world” electricity system. That is the view of Walter Higgins, the utility’s chief executive officer, who said a continuation of “...

If Axis and PartnerRe realise their merger plans, the combined company will return $750 million to shareholders following the proposed merger. That number was detailed in an investor presentation filed with US financial regulator the Securities and E...

Ascendant Group Ltd’s chairman Peter Durhager yesterday revealed that the firm had commissioned an independent investigation into whether the company’s chief executive officer had a conflict of interests in also being chairman of a US natural gas com...

A group of Ascendant Group Ltd shareholders intends to raise concerns about the direction in which the company is headed at Friday’s annual general meeting. The five are all former managers at Belco, a subsidiary of Ascendant, and they believe the el...

Partnerships will gain more of the same rights as businesses under amendments to the law that Government hopes will boost the Island’s asset management sector. Economic Development Minister Grant Gibbons said the changes to the Partnership Act 1902 w...

The annual rate of inflation hit its lowest point in more than five years in March, as prices rose 1.2 per cent from a year earlier. Government statistics released today showed how the slump in global oil prices has slowed down the increase in the co...