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Retail sales volume surged 7 per cent in November as local businesses benefited from more on-island spending. With fewer residents travelling during the pandemic, many retailers have seen a pick-up in sales. November was the fifth consecutive month o...

Plans to develop a National Digital Bank in Bermuda have been discussed by the Financial Policy Council. It welcomed the Government’s efforts to produce a feasibility study and business plan to assess its potential and viability. It also recommended ...

Imports slumped by more than $150 million in the second quarter of last year as the pandemic sparked economic turmoil, figures released today by the Bermuda Government show. The island’s balance of payments surplus – summarising its transactions with...

Bermuda’s annual inflation rate remained negative for the fourth consecutive month in October at -0.2 per cent. In July 2020, the island recorded its first negative inflation rate since 1965. Consumers paid 0.2 per cent less for a basket of goods and...

Hamilton has topped the latest global cost of living index. The city is number one on a list compiled by Numbeo.com, which compared the cost of living of 600 cities around the world against the cost of living in New York City. After Hamilton, the nex...

The Premier highlighted Bermuda’s effort to develop into a fintech hub in an interview with Bloomberg at the weekend. David Burt said attracting international businesses was a key component of Bermuda’s economic recovery programme in the wake of the ...

Retail sales volume increased 5.9 per cent in September, when adjusted for the rate of inflation. It was the third consecutive month of rising sales by volume and value. Overseas online purchases increased substantially. In value terms, imports via c...

Bermuda faces a “fiscal cliff” if its debt-to-revenue ratio, currently at 340 per cent, continues to rise. An adverse but “far from inconceivable” scenario would see Government debt on an unsustainable trajectory, leading to a credit rating downgrade...

The Construction Association of Bermuda is “encouraged” by Government’s $13.4 million short-term economic stimulus programme but says it has missed an opportunity to support training in the trades, the organisation’s president said yesterday. Simon T...

Bermuda’s annual inflation rate remained negative for a third consecutive month in September. The rate was -0.7, the same as reported in August. In July the island recorded its first negative inflation rate since 1965. Consumers paid 0.7 per cent les...