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Global banking giant HSBC is to sell off its $1.2 billion banking operation in Jordan. HSBC Bank Middle East has struck a deal to sell its business in the Middle East state to the Arab Jordan Investment Bank. The Jordanian business was made up of fou...

Super-rich families in Asia, Latin America and the Middle East could be major targets for Bermuda’s wealth management industry, one of the organisers of a major conference next month said yesterday. Jonathan Dunlop, chairman of the Bermuda branch of ...

A Bermuda-listed firm has issued $400 million worth of ten-year notes. The issue was announced by Hong Kong Land Holdings, part of the Bermuda-domiciled Jardine Matheson empire. The issue will be made through The Hong Kong Land Finance (Cayman Island...

Insurers paid out $31 billion in catastrophe losses last year — 25 billion below the long-term average losses, the world’s biggest reinsurer revealed yesterday. Munich Re — which has just launched a $63 billion sidecar listed on the Bermuda Stock Exc...

A US firm that routed business through a Bermuda subsidiary to “fleece” clients out of millions of dollars of extra fees has coughed up more than $150 million in fines in America. The Bermuda arm of ConvergEx, a leading transactions services provider...

Bermuda had the greatest percentage of growth in its register of companies in the first half of the year compared to other offshore jurisdictions, a top law firm said yesterday. The Island saw 538 new firms set up in the first six months of 2013 — wh...

Bermuda needs to roll out the red carpet at home and abroad to attract new business, a major seminar on captive insurance heard yesterday. And the key to attracting more business from the booming markets of Latin America is personal visits, as well a...

Tax loopholes in the EU which led to Bermuda coming under fire as a “tax haven” are to be closed. The EU has moved to end the practice of firms moving money around member states to avoid tax — a method used by internet giant Google, with billions end...

A firm which moved to Bermuda five years ago has gone into provisional liquidation owing more than $120 million. Richina Pacific Ltd (RPL), the parent of failed New Zealand construction firm Mainzeal Property & Construction, delisted from the New Zea...