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Economist Craig Simmons is calling on the Bermuda Government to appreciate the pain ahead for people as it prepares for a likely tough year of union negotiations. Mr Simmons warned the Government could not make necessary debt reductions without restr...

A new cross-party group of British MPs and peers is to examine Britain’s tax system — and will consider the abolition of corporation tax. The group, which will start its deliberations in the new year, will quiz government ministers and business leade...

Bermuda has come under the spotlight in a front-page article in the prestigious New York Times highlighting the use of the Island by US hedge fund managers who have pumped millions into presidential campaigns. The article said that hedge fund magnate...

Bermuda College lecturer and economist Craig Simmons answered The Royal Gazette’s questions and provided his assessment of the Island’s economy at the end of 2015. • To what extent do you believe that the Island is making a recovery from the recessi...

Personal finance website GOBankingRates has labelled Bermuda a tax haven. The Island features in an article highlighting the top ten tax havens worldwide. Bermuda figures at number seven on the list, alongside the Cayman Islands, the Bahamas and Jers...

US Democratic presidential hopeful Bernie Sanders has pledged a crackdown on tax avoidance involving Bermuda and other offshore jurisdictions. Mr Sanders, currently trailing Hillary Clinton in the race for the nomination as presidential candidate, ma...

Squeezed investment returns in the ultra-low interest-rate environment will be one of the major operating challenges facing property and casualty (P&C) insurers in the year ahead, according to credit rating agency Fitch. Investment yields in insurers...

The financial services industry in Bermuda had foreign portfolio holdings of more than half-a-trillion dollars last year. At $516 billion, that was up 16 per cent on 2013. While the Island does not feature in the world’s top ten places with the large...

The operation of the Horseshoe Bay Beach Café has been put out to tender by the Ministry of Public Works. According to a notice which appeared on page 53 of Friday’s edition of The Royal Gazette, the Bermuda Government is seeking applications by Janu...

Three stocks ended the week lower, and one was higher, on The Royal Gazette/BSX Index. Butterfield Bank was down five cents (2.5 per cent) at $1.95 after 36,124 shares were traded, while HSBC Holdings’ shares lost 55 cents (6.79 per cent) to close at...

The Island is rife with “incomplete, wrong and misleading” comments about the role of Correia Construction in the building of Heritage Wharf, according to the company’s head. Contractor Dennis Correia said his business had built the Dockyard cruise s...

Butterfield Bank will not raise residential mortgage rates in the wake of the US Federal Reserve hike of 0.25 of a percentage point. Speaking after the first Fed increase in nearly a decade, a Butterfield spokesman said that it would not raise its ra...