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Retail sales jumped by more than four percent in September compared to the same month last year. A total of $82.2 million was spent — up 4.2 percent from the $78.8 million recorded for the same month in 2013. After adjustment for inflation — 1.4 perc...

The losses from Hurricane Gonzalo will be much less than feared, an insurance firm boss predicted yesterday. John Wight president and chief executive officer of BF&M, the biggest property insurer on the Island, said damage costs were likely to total ...

Bermuda’s gross domestic product (GDP) grew to $5.6 billion last year — the first increase for five years. But after inflation is factored in the Island’s economy continued to shrink, falling 2.5 percent. But the percentage drop was less than the 4.8...

Construction firms are to get a tax break to help boost jobs and attract foreign investment. Finance Minister Bob Richards said the scheme would be targeted at major projects like hotels. “Direct foreign investment is going to be one of the critical ...

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 f...

A major conference on global Islamic finance in London was “very encouraging” for Bermuda, Premier Craig Cannonier said last night. Now Government plans to invite key players from the multibillion dollar Islamic financial work to the Island in a bid ...

Big business has backed a relaxation of the rule ensuring majority Bermuda ownership of local companies. The Association of Bermuda International Companies (ABIC) said that the Budget pledges to review of the 60/40 rule, support for the Bermuda Busin...

Bankers have declined an opportunity to reply to an attack by Finance Minister Bob Richards on their lending and interest policies as a drag on Bermuda’s recovery from recession. Bermuda Bankers’ Association chief Brendan McDonagh, the chairman and C...

A programme of cuts in public spending of more than $70 million was yesterday announced by Finance Minister Bob Richards. And he signalled further expenditure cuts of 15 percent over the next three years — but said that there would be no public servi...