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Economy (general)

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"Belco workers reject pay freeze "

Unionised Belco workers have revealed they rejected a pay freeze because it came with no assurances on job security. The Electricity Supply Trade Union (ESTU) issued a statement yesterday which said the utility company requested the freeze a year aft...
Jan 20, 2011
Other

"Aon increases Bermuda risk"

Bermuda has an elevated political risk due to the increase in public debt non-payment risk, according to a global firm’s assessment. Bermuda is one of 12 island nations to have attracted a “sovereign non-payment icon” on the Aon Risk Solutions 2011 r...
Jan 20, 2011
Editorials

"The mess we’re in"

Like the swell on the South Shore before a hurricane, the bad economic news keeps rolling in on Bermuda’s own economic storm, making a mockery of Premier Paula Cox’s unfortunate use of the term “post-recession”. In just the last week the Island’s two...
Jan 20, 2011
Other

"Bermuda on cusp of national economic emergency: UBP"

Bermuda is on the cusp of a national economic emergency, according to the United Bermuda Party. This afternoon Shadow Economic Minister Bob Richards said Government must reduce the cost of the civil service and debt levels. Mr Richards said: "We hav...
Jan 19, 2011
Tourism

"‘Redundancies are not being contemplated' at hotel"

Critics claimed Government failed to do its part to prevent the receivership of Newstead Belmont Hills Golf Resort and Spa. However Government said they remain confident in the tourism product and have been assured no jobs will be lost. On Monday B...
Jan 19, 2011
Other

"Money saving suggestion box for civil servants"

Civil servants are being given the opportunity to suggest ways to save money within various government departments. The Cabinet Office and the Ministry of Finance yesterday announced the creation of an electronic suggestion box where government emplo...
Jan 18, 2011
Other

"Bermuda Shorts"

Motorcyclist injured in early morning crash A woman motorcyclist who was injured when she lost control of her bike on Marsh Folly Road, Pembroke on Sunday was in a stable condition on a general ward at the hospital yesterday. The 26-year-old was take...
Jan 18, 2011
Other

"Civil servants asked for ways to save money"

Members of the Civil Service have been given a new way of suggesting how Government can save money. According to a press release this afternoon, a new Suggestion Box has been set up — an intranet website designed to enable civil servants to submit i...
Jan 16, 2011
Other

"Newstead Belmont owner speaks of receivership shock"

Receivers have been called in to the Newstead Belmont Hills Resort and Spa, it was confirmed this afternoon. An official press release is due to be issued shortly but a spokeswoman for Ernst and Young told The Royal Gazette that receivers and manage...
Jan 16, 2011
Other

"Civil Service job cuts inevitable, claims BDA"

Civil Service redundancies are inevitable as even $150 million savings won’t be enough to steer Bermuda through the economic crisis, according to the Bermuda Democratic Alliance. Finance spokesman Michael Fahy said Premier Paula Cox will need to step...
Jan 15, 2011
Other

"Workers agree overtime cuts"

Public Works staff look set for overtime cuts saving $1.5 million a year as part of Government’s efforts to trim the fat. Bermuda Industrial Union members yesterday agreed to be paid their regular wage instead of double time when they work overtime, ...
Jan 14, 2011
Other

"Union workers reject pay freeze at Belco"

Unionised Belco workers have rejected a wage freeze proposed by the company to help cut its costs in 2011. Electricity Supply Trade Union (ESTU) representatives met with management on Monday and turned it down, after members voted against it at a mee...
Jan 14, 2011
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