Archive for February 18th, 2011

Health Minister Encourages Cholesterol Checks

This week Health Minister Zane DeSilva paid a visit to the Cardiac Outreach, Renewal and Education Center CORE, located on Chancery Lane, to have his Cholesterol levels checked, in a bid to encourage others to do the same. “With February designated as Heart Month I wanted to do something which would encourage people to be aware of their heart health,”... Read more of this article

Live Blogging: 2011/12 Budget

This morning [Feb 18] Premier and Minister of Finance Paula Cox will deliver the 2011/12 Budget in the House of Assembly. Speaking yesterday UBP Leader Kim.Swan said: “Virtually everyone in the country is aware that Bermuda is in the grip of its most serious economic challenge in many generations, and that the Government’s spendthrift ways –... Read more of this article

UBP’s Richards On Budget: No Plan, Direction

Shadow Minister of Finance Bob Richards spoke about today’s budget saying “The Budget offered no plan, no direction and very few concrete steps that would give the country hope that recovery was within reach.” Mr Richards said the budget failed to “address soaring public debt, with interest charges set to nearly double to $70... Read more of this article

2011/12 Budget: Business & Tourism

[Updated with video] Minister of Business Development and Tourism Patrice Minors spoke at a post-budget press conference this afternoon [Feb 18] providing details of the financial provisions allocated to her Ministry in the 2011/12 Budget. The Minister said the Bermuda Music Fest will be eliminated as it “was not attracting enough tourists to... Read more of this article

Allied World Reports Record Net Income

Allied World Assurance Company Holdings yesterday [Feb. 17] reported record net income of $665.0 million, or $13.32 per diluted share, for the year ended December 31, 2010 compared to net income of $606.9 million, or $11.67 per diluted share, for the year ended December 31, 2009. Net income for the fourth quarter of 2010 was $92.8 million, or $2.13... Read more of this article

Accident: Traffic Diverted on Middle Road

Shortly ago this afternoon [Feb 18], a Police spokesman said: “There has been a two vehicle injury road traffic collision that has resulted in injury in the area of Chaingate Hill and Middle Road in Devonshire by Somersfield Academy. As a result traffic is being diverted in the area. We are asking for the motoring public to be patient as there... Read more of this article

CD&P on Bermuda’s Long-Term Insurers

Conyers Dill & Pearman — the Bermuda-headquartered international legal firm specialising in company and commercial law — today [Feb. 18] issued an explanatory memorandum on the island’s new classification regime for long-term insurers and revised solvency requirements. CD&P director David Doyle and associate Kent Smith address... Read more of this article

The Rocksteady Beat Goes On For Mishka

The rocksteady beat goes on for Bermuda reggae singer Mishka in the land of the Mariachi and tejano music. Mishka will perform a special benefit concert in Mexico on March 12 following the first day of competition at the Second Annual Punta Sayulita Longboard & Stand-Up Paddle Classic. The free concert will be recorded by Telehit, the top Mexican music... Read more of this article

Deloitte Budget Snapshot 2011

Deloitte has released a ‘Budget Snapshot’ for 2011, it follows in full below: Revenue Estimates 2011/2012 Estimate of total revenue $940 million, 4% lower than 2010/2011 revised estimate of $977 million. Expenditure Estimates 2011/2012 Estimate of total expenditures $1.08 billion including $84.2 million of capital expenditures, $70.0 million... Read more of this article

Chamber of Commerce’s Budget Overview

By the Bermuda Chamber of Commerce’s Peter Everson We congratulate the Premier and her Cabinet colleagues for having listened to the Chamber and adopting some of the recommendations that we have made during the past year. The headline change is the reversal of the 2% increase in the rate of payroll tax introduced last year. Unfortunately it has... Read more of this article

Budget: Stimulating Tourism Job Creation

While emphasising there is “no silver bullet to deliver faster growth, employment and poverty reduction”, Premier and Finance Minister Paula Cox said in her Budget Statement today [Feb. 18] Government hopes to stimulate the economy and encourage job growth by revitalising the island’s tourism product. Premier Cox told Parliament the... Read more of this article

Video: BDA’s Fahy Responds to Budget

[Updated] Bermuda Democratic Alliance financial affairs spokesperson Michael Fahy spoke with us today [Feb 18] after the Premier and Minister of Finance Paula Cox delivered the 2011/12 budget. He praised the Premier for the payroll tax rollbacks, saying “The BDA is very pleased to hear about the reducation in payroll tax,” saying “they... Read more of this article