Tag: Europe

Minister Highlights Coverage After Italian Trip

Following a two day visit to Milan, Italy in March Minster of Tourism Development and Transport Shawn Crockwell has received feedback on the media coverage generated by the trip, saying that 15 editorials were published reaching an audience of 471,000 readers/viewers. A statement said, “Both trade and consumer media underlined the highlights... Read more of this article

OECD: “Tax Havens Need To Be Neutralised”

International leaders are moving closer to taking action on corporate tax avoidance – prompted in part by Google’s use of use of Ireland and the Netherlands to shift billions of dollars of earnings to Bermuda — despite challenges, a top official at the Organisation for Economic Co-operation and Development [OECD] said on Wednesday... Read more of this article

Shianne Smith Finishes Second In France

[Updated] Bermuda’s Shianne Smith has finished 2nd in the Women’s Heptathlon at the Regional Combination of Event Championships in Cannes, France with a total of 5,240 points. Smith won the 200m race clocking a time of 24.8, she then clocked 2:19:18 winning the 800m. Smith then finished 2nd in the 100m Hurdles with a time of 14.48, she then... Read more of this article

Lauder’s CME Announces Public Offering

Central European Media Enterprises Ltd. has commenced an underwritten public offering to raise aggregate gross proceeds of $174,000,000 through the sale of shares of its Class A common stock, par value $0.08 per share, pursuant to an effective shelf registration statement filed with the US Securities & Exchange Commission. All of the shares are... Read more of this article

Deutsche Bank Ups Everest Price Target

Analysts at Deutsche Bank raised their price target on shares of Bermuda domiciled reinsurer Everest Re Group from $128.00 to $147.00 in a research report issued to clients and investors on Tuesday [Apr. 30]. The firm currently has a “buy” rating on the stock. RE has been the subject of a number of other recent research reports. Analysts at Barclays... Read more of this article

Elderfield Named To Lloyds Banking Post

Lloyds Banking Group confirmed on Tuesday [Apr. 30] that it had recruited former Bermuda Monetary Authority CEO Matthew Elderfield as group director of conduct and compliance, a newly created position. He will start work in October this year and will report to the chief risk officer, Juan Colombas. The move follows an internal reshuffle of Lloyds’... Read more of this article

Munich Re Structures SPI’s Turkish Deal

Munich Re AG said today [Apr. 30] it facilitated structuring of a $400 million catastrophe for a Bermuda special purpose insurer for transferring earthquake risks in Turkey to the capital markets. The transaction was arranged on behalf of the Turkish Insurance Catastrophe Insurance Pool [TCIP] which bought reinsurance protection of $400 million for... Read more of this article

New Study On Reinsurance Hubs Released

Research and Markets — a leading international market research and market data firm — on Monday [Apr. 29] announced the addition of the “2020 Foresight Report: Reinsurance Hubs” report to its catalogue of publications. A Research and Markets spokesperson said: “Growing uncertainties in the global economy and the increasing... Read more of this article

CME CEO: “2013 A Year Of Bold Action”

Bermuda-based entertainment and broadcasting company Central European Media Enterprises Ltd. on Monday [Apr. 29] announced financial results for the first quarter ended March 31, 2013. Net revenues for the three months ended March 31, 2013 were US$ 137.0 million compared to $167.4 million for the same period in 2012. Operating income before depreciation... Read more of this article

“Financial Times” On Tax Avoidance Crackdown

The ability of multinational corporations to exploit cracks in the international tax system has ignited intense anger around the world and now the spotlight has fallen not just on the companies involved but also on the countries accused of facilitating avoidance, the “Financial Times” reported on Sunday [Apr. 28]. The leading international... Read more of this article