Archive for September, 2011

XL: Prior Approval To Establish In Brazil

XL Group plc and its subsidiaries today announced that the XL group of companies has received prior approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), to establish an insurance operation in the country. Upon receipt of final regulatory approval, XL plans to open XL Seguros Brasil S.A. in Sao... Read more of this article

Change In Duty & Retailers Payroll Tax

[Updated] This morning [Sept.30] Premier and Minister of Finance Paula Cox said “In taking note of this continuing economic malaise and the possible social consequences, Government will immediately institute several emergency measures to assist businesses that have a pressing need for financial relief.” Payroll tax will be set at zero for... Read more of this article

Parks Dept Workers Donate $3,000

Yesterday [Sept.29] Parks Department employees presented a cheque for $3,000 to the family of a fellow worker who recently passed away. Victor Moniz had worked for the Parks Department for 50 years, and his co-workers decided to raise funds to assist him when became ill. Members of the Parks Dept present the cheque to Mr Moniz’s daughter: “We... Read more of this article

Business Bermuda Hosts London Dinner

Business Bermuda, an organization working with Bermuda-resident companies and government to develop and promote Bermuda internationally as the jurisdiction of choice, hosted the AIFMD thought leadership dinner on 29 September 2011. The event was held at The Savoy, Strand, London. The dinner gathered key figures from the fund and alternative investment... Read more of this article

Ophelia Strengthens: Category 3 Hurricane

[Updated] Hurricane Ophelia – which is forecast to pass 123 nautical miles to our east tomorrow – has strengthened to a category 2 hurricane. In their latest update this morning [Sept.30], the U.S. National Hurricane Center said, “Maximum sustained winds have increased to near 105 mph…165 km/h…with higher gusts. Ophelia... Read more of this article

Bob Richards On Job Losses

Reacting to the news yesterday of 150 job losses, Shadow Minister of Finance Bob Richards said, “The latest news of job losses in Bermuda forms yet another data point in the declining trend in employment and opportunity available on our island.” “The Citi Hedge Fund Services’ announcement is evidence that our problems are Bermuda-specific... Read more of this article

Minister Minors ‘Works’ At Fairmont

Earlier this week, Minister of Business Development and Tourism Patrice Minors, spent time ‘working’ at The Fairmont Southampton as the island’s largest hotel marked World Tourism Day. Working alongside and with the guidance of The Fairmont Southampton’s staff, Minister Minors was shown how to prepare a bed, serve tea in the Jasmine... Read more of this article

PLP: Simmons, Dame Jennifer To Run

[Updated] Constituency #31 Southampton West Central held their candidate selection meeting last night [Sept.29], and Scott Simmons was selected over Denton Williams to represent the branch. In the 2007 General Election, the UBP’s Jon Brunson won the Southampton West Central seat with 57% of the vote against the PLP’s Marc Bean. Due to Mr... Read more of this article

Round #2: Pembroke West Central Voting

“The PLP announced last night [Sept.29] that there will be a second candidate selection meeting for Constituency #18 Pembroke West Central on Wednesday, October 12 at The Berkeley Institute. The first candidate selection meeting for Pembroke West Central saw incumbent Minister Neletha Butterfield challenged by Senator David Burt, and ended in... Read more of this article

Police Appeal: Missing Woman [Found]

[Updated- found] The police have appealed for assistance in locating 40-year-old Kamilah Muhammad who has not been seen since Sunday, September 25th. A police spokesperson said, “The Bermuda Police Service is appealing for the public’s assistance in locating 40 year old Kamilah Muhammad.” “Ms. Muhammad is described as approximately... Read more of this article

Minister Wilson Addresses Today’s Job Losses

In response to today’s news that 150 jobs will be lost, Minister of Economy, Trade and Industry Kim Wilson said, “The reality of the harsh economic climate cannot be ignored. The fact is that the economic challenges that we are facing as a Country are indiscriminate. “It is being felt across all sectors of our community, and as Minister... Read more of this article

BWS Issues Tropical Storm Watch

[Updated] The Bermuda Weather Service [BWS] issued a Tropical Storm Watch this afternoon [Sept.29], saying Hurricane Ophelia is a ‘potential threat’ to Bermuda. Its closest point of approach to Bermuda within 72 hrs is forecast to be 115 nautical miles away at 3pm on Saturday October 1st. “Winds increase on Friday, with showers later, as... Read more of this article