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Majorinsurance seminar coming

Bermuda’s financial watchdog is to host a major conference looking at the future of the insurance and reinsurance industries. And the Bermuda Monetary Authority (BMA) has lined up heavyweight speakers — including John Nelson, the chairman of Lloyd’s ...
Oct 07, 2014
Politics

Richards to host SAGE meeting

Government will be hosting a town-hall meeting on SAGE Commission Recommendations tomorrow evening. The meeting, to be hosted by Finance Minister Bob Richards, will be aimed at communicating high level policy decisions Government has taken with respe...
Oct 07, 2014
Opinion Writer

The myth about currency

Recently the US dollar has surged. Its gain versus a basket of major currencies since the beginning of July as measured by the US Dollar Index ‘DXY’ is almost nine per cent as of this writing. Most of this appreciation has come at the expense of the ...
Oct 06, 2014
Opinion Writer

Alibaba IPO — and a corporate governance lesson

Two weeks ago Alibaba (‘BABA’), China’s biggest e-commerce company, marked the biggest IPO (initial public offering of shares to the public) in history. The company raised some $25 billion (Visa was second at $19.7 billion in March 2008). This huge I...
Sep 30, 2014
International Business

IRS sues US firm over Bermuda-linked loan

The US Internal Revenue Service (IRS) is to take an American company with a Bermudian arm to court in a bid to tax a $357 million loan. And — if the US taxman is successful — the case could have wide-reaching implications for other major US firms th...
Sep 25, 2014
Other

Butterfield introduces Bermuda’s first multi-currency ATM

The Bank of N.T. Butterfield & Son Limited unveiled the island’s first multi-currency ATM in the refurbished international departure lounge at L. F. Wade International Airport. A press release announcing the installation of the ATM, which is located ...
Sep 23, 2014
Personal Finance

Dave says do not use your mortgage to consolidate debt

Dear Dave — Some friends recently offered me a timeshare. It’s an older place on the beach, and they’ve had it for about 20 years. I’d have to pay a transfer fee of $100, plus a yearly association fee of $500. I know you’re not a big fan of timeshare...
Sep 20, 2014
Opinion Writer

Airline stocks are taking off

Anyone who travels is aware the major air carriers have gotten a bit greedy in recent years. Despite sluggish real wage growth and elevated unemployment levels, most airlines continue to whack customers with high fares and extra costs. Carriers are c...
Sep 16, 2014
Other

Hard-hitting Packwood defends Island’s tax laws

Bermuda’s representative in the US has launched a defence of the Island’s tax system. And head of Bermuda’s Washington DC office Cheryl Packwood appealed for US legislators to treat Bermuda as an ally and economic partner — not a tax haven. “Unlike t...
Sep 15, 2014
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