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The Island’s airport is set to be first to be moved out of Government’s hands, Finance Minister Bob Richards said yesterday. Mr Richards added that the airport building — some of which dates back to the 1940s — was in serious need of upgrading, but t...

Power firm BELCO’s monopoly on energy supply will be broken, Finance Minister Bob Richards said in his Budget speech. Mr Richards said the firm’s lack of competition was a contributing factor to the Island’s failure to climb out of the recession. But...

Bermuda’s banks are a drag on the Island’s recovery from recession, Finance Minister Bob Richards said today. And he said the sector’s get-tough policy on lending and tiny deposit interest rates were “at odds with Bermuda’s national interests” — and ...

Telecoms watchdog the Regulatory Authority will no longer have to publish its rulings in full in the Official Gazette. Education and Economic Development Minister Grant Gibbons said the move would cut costs because the Authority’s rulings are often l...

Foreign firms based in Bermuda should be allowed to buy homes for its top executives, Bermuda’s biggest business group said yesterday. The proposal was part of Chamber of Commerce’s wish list for the Budget, due to be unveiled by Finance Minister Bo...

Business Development Agency (BDA) chief Stephen Lund has quit his post after just seven months to return to his homeland of Canada. Now deputy chairman David Cash will take over as CEO of the organisation while it recruits a successor. BDA chairman C...

HSBC has slapped a new redemption fee of up to three percent on one of its money funds. But HSBC said the charge would only apply in “exceptional circumstances” to avoid to a run on the funds in a financial crisis. But one customer, who asked not to ...

Minister of Finance Bob Richards will be the star speaker at the annual post-Budget breakfast held by the Chamber of Commerce. Mr Richards — who will present the first full OBA Budget in the House of Assembly three days earlier — will explain his bl...

Bermuda’s biggest bank has admitted it quizzes customers who take out large amounts of cash on what they want it for. HSBC said it routinely asks questions of people before it hands over their money to cut down on the risk of money-laundering or frau...