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Economy (general)

Economy

"Finance chiefs concerned by surging commodity prices"

PARIS (Bloomberg) Finance ministers from the Group of 20 nations signalled concern that surging commodity costs are driving inflationary pressures around the world. French Finance Minister Christine Lagarde, whose country chaired the meeting, said at...
Feb 21, 2011
Politics

"Economy Minister laments decline of work ethic"

Minister of Economy, Trade and Industry Kim Wilson said the decline of work ethics helped spark last week’s bus strike. Speaking to the Senate yesterday, Sen Wilson said: “The Department of Transportation incident is one example of many. “The deteri...
Feb 17, 2011
Economy

"Retail sales fell 5% in 2010"

Retailers saw their sales fall by 3.2 percent in December - their most important month of the year - compared to 2009. After inflation was taken into account, retail sales volume fell 5.6 percent in the traditional peak shopping month, figures releas...
Feb 17, 2011
Other

"No Christmas boost for retailers"

Retailers failed to get a pre-Christmas boost as figures released today showed sales fell by more than five percent in real terms. Government this morning released the retail sales index which showed that sales totalled an estimated $106.6 million du...
Feb 16, 2011
Other

"PwC partner: Island is well-equipped to meet challenges"

Bermuda is facing the same economic issues as the rest of the world, but it is well-equipped to meet those challenges. That is the view of Caroline Foulger, partner and re/insurance leader at PricewaterhouseCoopers (PwC). She said that currently ther...
Feb 15, 2011
Other

"2011 outlook is even more uncertain for International Business"

The prognosis for international business in 2011 is even more uncertain than ever before. Companies have been slashing staff and budgets and many have left Bermuda’s shores altogether. The high cost of doing business on the Island, a low interest rat...
Feb 15, 2011
Budget

"BEC: Give tax breaks to create jobs"

Businesses should be given tax breaks to encourage them to keep staff and create jobs as the economy continues to shrink, according to Bermuda Employers’ Council. And Martin Law, the council’s executive officer, says Government needs to gather and ma...
Feb 15, 2011
Other

"Achieving business success in tough times"

An idea that helps people save money and the environment at the same time has helped one north Hamilton business entrepreneur the testing economic times. Cartridge World, on North Street, Hamilton, has just celebrated its first anniversary in busines...
Feb 14, 2011
Other

"Examining Bermuda’s troubled and fragile economy"

When Premier and Finance Minister Paula Cox delivers her Budget for the 2011/12 fiscal year, she will be doing so against the backdrop of a troubled and fragile local economy. The last two years have been pretty grim, with jobs disappearing and busin...
Feb 14, 2011
Other

"Island must dispel ‘closed for business’ sentiment"

Bermuda must do all it can to fight the “pervasive sentiment” here and abroad that it is “closed for business”, a top insurance executive insisted yesterday. Peter Durhager, executive vice president of Renaissance Re, told Hamilton Rotarians that a “...
Feb 09, 2011
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