Hashtag: #Finance
Column: 3 Questions About Economy & Finances
[Opinion column written by OBA Senator Douglas De Couto] We’ve recently heard a lot of noise from the Government about their new Economic Development Strategy, the Workforce Survey, and the Premier’s update on Government financial performance. To help translate that Government PR to what it all means for us in Bermuda, here are three questions you... Read more of this article
ICO 2020-2021 Audited Financial Statements
The Information Commissioner’s Office [ICO] has released their 2020-2021 Audited Financial Statements. The ICO said, “On Friday, 14 July 2023, the Audited Financial Statements for the Office of the Information Commissioner for the year ended 31 March 2021 were tabled in the House of Assembly. “Information Commissioner Gitanjali Gutierrez... Read more of this article
Butterfield Offers Free Money Management Class
Butterfield is offering a free money management and financial literacy class next week for full-time college and university students between the ages of 18 and 30. A spokesperson said, “The Butterfield 101 Money Management Programme will be held on Thursday, 20 July, from 5:30p.m. on the second floor of Butterfield’s Head Office. Retail banking... Read more of this article
Carla Seely Column: Retirement Income Options
[Written by Carla Seely] Understanding your retirement income options is crucial for ensuring financial security in your retirement years. Oftentimes, pre-retirees feel confused about what options are available when converting their defined contribution pension plan into retirement income. There are currently two options available to receive retirement... Read more of this article
Corporation Of Hamilton Financial Statements
The Corporation of Hamilton is advising that the Corporation’s Financial Statements were “provided to the Minister of Public Works Lt/Col David Burch by the June 30th deadline.” A spokesperson said, “The Corporation is also pleased to note that our financial statements are presented each year with an unqualified audit opinion from... Read more of this article
BDA To Attend Money 20/20 Europe Event
The Bermuda Business Development Agency [BDA] will “promote Bermuda’s burgeoning Financial Technology [FinTech] sector at the Money 20/20 Europe conference.” A spokesperson said, “Money20/20 Europe focusses primarily on the future of payments and financial services and is being held this year in Amsterdam, Netherlands from June 6–8.” David... Read more of this article
Financial Sanctions Implementation Unit Update
Attorney-General Kathy Lynn Simmons provided an update on the Russia Sanctions Regime in Bermuda, noting that “since February 2022, the FSIU has logged 139 compliance reporting forms, including notification of frozen assets totalling over $219.5 million.” Speaking in the House of Assembly [May 19], the Attorney-General said, “The... Read more of this article
Maiden Leadership Update & Q1 Financial Results
Maiden Holdings, Ltd. reported an update on its leadership team along with its first quarter 2023 results. Leadership Update The company said, “The Company reported that its Board of Directors had named Patrick J. Haveron its sole Chief Executive Officer and Lawrence F. Metz was named Executive Vice Chairman while remaining as Group President.... Read more of this article
BMA Invites Feedback On Bank OTL Fees
“The Banks and Deposit Companies Act 1999 was recently amended [in section 60[2]], to enable the Minister of Finance to ‘regulate any commercial or operational business fee, charge or penalty’ applied by banks to their customers,” the Bermuda Monetary Authority said. A spokespeson said, “In this connection, the Bermuda... Read more of this article
CedarBridge Wins Top Prize In KPMG Challenge
[Written by Anya Thompson] The 18th Annual KPMG Senior School Investment Challenge ceremony was held at City Hall on May 3, 2023. The investment challenge for Bermuda High Schools is a competition that fosters and promotes financial literacy while also developing analytical skills in our high school students. The challenge involves teams of students... Read more of this article
Video: Beyond Innovation Interviews Premier
Beyond Innovation’s Anthony Lacavera recently interviewed Premier David Burt “about the government’s forward thinking legislation to attract a globally connected business community.” The video’s description says, “Bermuda has positioned itself at the forefront of digital transformation and the innovation economy. “Beyond... Read more of this article
Senator: Increase In Govt Fees Will Raise $3.3M
Senator Arianna Hodgson clarified her statement in the Senate, noting that the increases in Government fees will “result in $3.3 million in additional funds, not $21 million as stated.” A Government spokesperson said, “The Junior Minister of Finance, Senator Arianna Hodgson, is today clarifying a statement she made in the Senate... Read more of this article
PLP Comments On OBA’s ‘Sudden Reversal’
“The sudden reversal of the OBA Leader, who now says he no longer supports the economic policy printed in his own Budget Reply, is surprising – but is not unexpected given how economically damaging those proposals would be,” Junior Minister for Labour, Finance and Health Senator Arianna Hodgson said. Background The OBA released their Reply... Read more of this article
2022 National Economic Report Of Bermuda
The Ministry of Finance “estimates that Bermuda’s GDP may have grown by 3.4-3.9% in 2022″ and “estimates that Bermuda’s economy will expand within a range of 2.5 to 3.5% in 2023. This is according to the 2022 National Economic Report, with the 29-page report spanning a number of topics including domestic demand, personal consumption... Read more of this article
$50 Million Guarantee For Mortgage Programme
The Government is issuing a $50 million guarantee to the Bermuda Commercial Bank for the new pilot mortgage guarantee programme, Premier and Minister of Finance David Burt said, adding that it “represents a first step in the process of lowering mortgage rates in Bermuda.” Speaking in the House of Assembly today [Nov 18] the Premier said,... Read more of this article
Deficit Projected To Be $44M Below Estimate
“Based on the numbers submitted for the audit of the Consolidated Fund, the 2021/22 budget deficit is now projected to be $81 million, $44 million [35%] below 2021/22 original estimate of $125 million, as presented in the 2021/2022 Budget Statement,” Premier and Minister of Finance David Burt said in the House of Assembly on Friday. The... Read more of this article
