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Macro economics

Letters to the Editor

"Time to get back to fiscal prudence"

February 10, 2013– Dear Sir, The Auditor General gave the past PLP government a qualified audit for the last year. This is the fourth year in a row the AG has not been able to make head or tail out of the financial dealings of Government. When are w...
Feb 12, 2013
Other

"Auditor General critical of Govt accounts"

Auditor General Heather Jacobs Matthews this evening said Government failed to adhere to international practice by producing late and incomplete 2011/12 financial statements. For the fourth successive year, the Auditor gave a qualified opinion on the...
Feb 08, 2013
Economy

"Inflation rate remains at 1.9%"

The annual rate of inflation remained at 1.9 percent in December, unchanged from November, with the increase in health and personal care costs the biggest driver of the increase in the cost of living. Year over year, the health and personal care sect...
Feb 05, 2013
Local Business

"Banks respond to mortgage rate critics"

Bermuda banks yesterday responded to residents’ concerns about mortgage rates being so high compared to other countries, pointing to such factors as higher costs and risks of lending on the Island. Butterfield Bank, providing a detailed explanation f...
Feb 01, 2013
Economy

"Imports decline for tenth consecutive quarter"

Bermuda has recorded another quarter of declining imports, reflecting the continued shrinking of the local economy. According to the Government’s Balance of Payments statistics released yesterday, a total of $220 million was spent on imported goods i...
Jan 31, 2013
Reinsurance

"BMA: No Solvency II-type regulation for captives"

The Bermuda Monetary Authority (BMA) will not apply Solvency II-type regulation to the Island’s captive insurers, the financial regulator stated definitively yesterday. At its annual meeting, the BMA put to rest any question about how its pursuit of ...
Jan 30, 2013
Opinion Writer

"Is the Apple core rotten?"

Apple was taken to the cleaners on Thursday after it reported financial results on Wednesday night. One of the world’s most discussed stocks and a perennial Wall Street darling lost about $63.70 or almost $60 billion in market capitalisation. So what...
Jan 29, 2013
Local Business

"Borrowers struggling on unprecedented scale"

Realtors say they are listing more properties that are in or facing foreclosure as an unprecedented number of Bermudians fall behind on their mortgage payments. One realtor said they’ve seen more people having trouble paying their mortgages “in the p...
Jan 25, 2013
Other

"Resistance bands recalled following safety concerns"

The Department of Consumer Affairs yesterday warned local Walmart shoppers of a recall of one of the company’s exercise products. Perfect Resistance Bands sold by the popular chain of stores were voluntarily recalled after they were deemed a potentia...
Jan 24, 2013
Other

"US tax issues seminar"

Changes to a US tax law that will affect US citizens living in Bermuda will be the subject of a seminar presented next week by James Paul Sabo, president of ETS Ltd and author of the US Tax Issues column in The Royal Gazette. The seminar, which will ...
Jan 21, 2013
Economy

"Inflation rate creeps up to 1.9%"

An increase in health and personal care costs helped to push the inflation rate up to 1.9 percent in November. This marked an increase of 0.2 percentage points from October’s 1.7 percent rate, according to the Consumer Price Index (CPI) figures relea...
Jan 21, 2013
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