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The Organisation for Economic Cooperation and Development (OECD) has encouraged Governments to change their tax regimes to capture more of the potential revenue lost to companies using “aggressive” policies to slash their tax bills. An OECD report pu...

Liquidators of two Bermuda-incorporated funds should have their proceedings recognised as a foreign action in order to investigate the funds’ financial affairs and to distribute recovered property to the creditors, a judge has concluded. Bankruptcy J...

Bermuda-based Ship Finance International Ltd posted a profit of $41.5 million or 52 cents per share during the second quarter. That included an accrued profit share of $200,000 over that period compared to $2.3 million in the first quarter of this ye...

LONDON (Bloomberg) Frontline Ltd, the world’s biggest operator of supertankers, reported a worse-than-expected second quarter loss and said the “weak trend” would persist, while the time for acquisitions “has moved closer.” “The situation has, of cou...

Bermuda-based fund administrator Prime Management Ltd achieved a score of 6.7 out of 7 in the annual Global Custodian Hedge Fund Administration Survey. Prime also received “Best in Class” awards in more than 90 percent of its eligible categories. Jo...

GENEVA (AP) Swiss banks will have to pay 500 million Swiss francs ($630 million) to Britain as part of an agreement to end tax evasion, the Swiss government says. Britain’s treasury described the deal struck by senior officials in Zurich on Wednesday...

Money-laundering reporting will be the focus for a training session held by KPMG Advisory Ltd later this year. The two Money Laundering Reporting Officer Level Training sessions, which are being held at Crown House, 4 Par-la-Ville Road, Hamilton, on ...

Bermuda-based tanker operator Nordic American Tankers Ltd added to its fleet yesterday when it took delivery of the Nordic Breeze,a suezmax newbuilding tanker of 158,000 deadweight tons. The new vessel was built at Samsung Heavy Industries Co, Ltd, S...