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The Regulatory Authority overseeing telecoms has launched a review of concerns over what it calls “cross-market” ownership by KeyTech. The RA noted KeyTech’s holdings now include 100-percent control of one of Bermuda’s largest fixed wireline provider...

Bermuda Aviation Services Ltd (BAS) has a new project manager — mechanical engineer George Skinner, who started in the position yesterday. Mr Skinner’s role will be to offer “multi-disciplined solutions” for their commercial clients, drawing on the ...

Belco does not profit from the Fuel Adjustment Rate, and nothing parent company Ascendant Group is doing affects the price of electricity in Bermuda. This from Ascendant president and CEO Walt Higgins. The Fuel Adjustment Rate applies to the price Be...

Moody’s Investors Service has downgraded the ratings of Butterfield Bank citing its still-high level of nonperforming assets amid Bermuda’s continuing recession. Butterfield’s stand-alone bank financial strength rating/baseline credit assessment was ...

AM Best has revised the outlook to stable from negative for PartnerRe and its operating subsidiaries on its strong 2012 performance “which demonstrates its ability to deliver results that are among the top of its peers”. The agency affirmed the finan...

HSBC Bermuda doesn’t rule out the possibility of more redundancies in Bermuda after the company said it plans to cut thousands of jobs worldwide in the next few years. After two years of cost cuts and asset sales, London-headquartered HSBC said yest...

Butterfield is continuing its share buy-back programme, purchasing another $1 million worth of common shares last month. In a filing with the Bermuda Stock Exchange, Butterfield announced that during the month of April it purchased for Treasury 1,080...