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Economy (general)

Economy

"‘The state of Bermuda’s economy’"

Bermuda’s Emerging Professionals (BEPRO) is kicking off their first seminar of the year next week with an overview of Bermuda’s economy. Guest speaker, Lamar Caines, financial analyst from Bank of Butterfield, will be leading the session entitled “Th...
Jan 27, 2012
Court

"Court orders wind-up of iStore"

Computer and electronics shop iStore has closed its doors, with the Commercial Court ordering the wind-up of the company to pay outstanding debts. Winding up includes the dissolution of all legal and financial affairs of the business, but the busines...
Jan 23, 2012
Other

"Consumer spending continues to fall"

Consumer retail spending was down in November last year with car sales plummeting by almost 40 percent, according to the Retail Sales Index released this morning. Meanwhile, sales revenues for food stores, building materials and service stations all ...
Jan 20, 2012
Economy

"Imports to Bermuda fall for sixth straight quarter"

The value of goods imported into Bermuda fell for the sixth straight quarter. This as the Island’s balance of payments current account surplus shrank by 3.5 percent in the third quarter of 2011. A total of $242 million was spent on imported goods in ...
Jan 20, 2012
Other

"Get the work permit situation right, Sir John tells forum"

Increasing the resident population is key to improving Bermudas’ economy, according to Sir John Swan and Larry Burchall. The pair stressed that the economy was in dire straits, at a forum at City Hall yesterday. And Bermuda had to get its work permit...
Jan 20, 2012
Other

"Chamber’s economy panel stirs up big interest"

The Bermuda Chamber of Commerce’s upcoming panel discussion on the Island’s struggling economy has quickly become a hot ticket event, generating a huge response from the public. The Chamber’s panel event “The Economy Now and a Vision For the Future” ...
Jan 17, 2012
Politics

"Foreign cleaners told to leave"

Hospitality industry bosses are being told by the Immigration Department that work permits for their cleaners and potwashers will not be renewed and that their workers must stop working by Friday. Restaurateurs told The Royal Gazette that the Departm...
Jan 16, 2012
Opinion Writer

"Govt must cut staff costs"

In the December 12, 2011 Pre-Budget Report (PBR) and Ministerial Statement (MS), the Finance Minister acknowledged the depth of Bermuda’s economic situation. The Minister recognises that revenue is unlikely to improve substantially and that even afte...
Jan 06, 2012
Economy

"Tourism jobs rise in third quarter"

Hotel jobs increased by 84 positions and industry revenue jumped almost 20 percent in the third quarter of 2011. According to the Quarterly Bulletin of Statistics, distributed by the Department of Statistics, revenue for the hotel industry in Bermuda...
Jan 06, 2012
Other

"Arnold’s Tile closes after 30 years of business"

Bermuda’s economy continues to struggle as one local retailer closes its doors and another is embroiled in legal action. Arnold’s Tile & Building Supplies Limited closed its doors on December 31 and the landlord of the iStore is petitioning to wind u...
Jan 05, 2012
Other

"Legal action started to wind-up iStore"

According to a legal notice published in today’s Royal Gazette, the landlord of computer and electrics shop, iStore, are petitioning to have the store wound up to collect on outstanding debts. A Supreme Court hearing on the matter is set for January ...
Jan 04, 2012
Opinion Writer

"Wall St can still win the war"

NEW YORK (Bloomberg) To: The Upper Ones From: The Strategy Committee, Re: The Alarming Behavior of College Students The committee has been reconvened in haste to respond to a disturbing new trend: the uprisings by students on elite college campuses....
Jan 03, 2012
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