Archive for November 2nd, 2011
Police Name Accident Victim: Landro Minors
The Police have named the man who died last night after a road accident as Landro Minors. Around 9:45pm last night [Nov.1] Mr Minors was seriously injured in a motorcycle accident in which his bike collided with a wall. He was rushed to the hospital via ambulance where he subsequently succumbed to his injuries.” A police spokesperson said, “The... Read more of this article
Tycoon Drops Bid For Bermuda Documents
Australian-born businessman Peter Lowy has called an end to a long-running US legal challenge in which he sought thousands of pages of documents –including financial dossiers from Bermuda — related to an international investigation into his tax affairs. US media outlets report Justice Susan Illston, of the US District Court for the northern... Read more of this article
Conyers On Bermuda And Islamic Finance
Bermuda’s efforts to establish itself as a global leader in Islamic finance is now an economic priority for the island. And on the eve of this month’s 18th Annual World Islamic Banking Conference in Bahrain, international Bermuda law firm Conyers, Dill & Pearman has been reminding potential clients in the Muslim world why the island’s... Read more of this article
Video: Premier Announces Cabinet Reshuffle
[Updated] Officials have confirmed there will be a Parliamentary swearing-in ceremony this morning [Nov.2] at 11:30am at Government House, although there was no indication as to who will be taking oaths of office. Update 11.28am: The ceremony has not yet begun, however numerous people are present at Government House. Update 11.37am: Cabinet Changes... Read more of this article
15-Yr-Old Charged With Murder
[Updated] This morning [Nov.2] in Magistrates Court a 15-year-old male was charged with the murder of 18-year-old Malcolm Outerbridge on 28th of October in Warwick. Rashaun Codrington was charged with murder and possession of a bladed article. He was wearing a white t-shirt and jeans, and stood quietly through the proceedings. Because of his age, he... Read more of this article
Customs Duty Changes Coming Into Effect
Premier and Finance Minister Paula Cox will table legislation in the House of Assembly amending the Customs Tariff Act 1970 increasing the rate of duty payable on accompanied goods imported for personal use from 25 percent to 35 percent. In addition, the $100 duty free allowance for returning residents will be restricted so that where two or more members... Read more of this article
Frontline Ltd. Seeking To Sell More Ships
Bermuda’s Frontline Ltd., the oil tanker operator led by Norway-born billionaire John Fredriksen, has said it’s looking to sell three more 1990s-built ships as the company modernises its fleet while earnings plunge. The “Front Alfa”, “Front Beta” and “Front Delta” all built in 1992 or 1993 and capable of hauling... Read more of this article
AXIS Hurt By Financial Markets Volatility
Bermuda-headquartered AXIS Capital Holdings Limited this week reported net income available to common shareholders for the third quarter of 2011 of $212 million, or $1.66 per diluted common share, compared with $239 million, or $1.78 per diluted common share, for the third quarter of 2010. For the nine months ended September 30, 2011, AXIS Capital reported... Read more of this article
PLP: ‘UBP’s Renaming Charade Didn’t Work’
The PLP released a statement after last night’s [Nov 1] by-election in Constituency #12, Devonshire South Central saying the “the UBP’s renaming charade didn’t work. It did nothing to attract anyone other than the old UBP voting block.” “We are confident that voters have looked beyond the UBP’s desperate politricks and... Read more of this article
Southside Shooting Trial Set To Begin
According to court records, the trial of Sanchey Grant and Jahmel Blakeney is set to begin in Supreme Court this morning [Nov.2]. Both men are being charged in connection with a 2009 shooting in St David’s which left two people injured. File photo of Jahmel Blakeney: On November 13, 2009, Shaki Minors [then 26] and his girlfriend Renee Kuchler... Read more of this article
RenaissanceRe Profits Tumble 76%
Bermuda reinsurance company RenaissanceRe Holdings Ltd. this week [Nov. 1] posted a 76 percent drop in third-quarter profit, mainly due to big investment losses during the worst quarter for the markets since the economic crisis. Pembroke-based RenaissanceRe said net income attributable to common shareholders fell to $49.3 million, or 95 cents per share,... Read more of this article
XL Capital: “Progress Continued During Q3″
Headquartered in Ireland and with its executive offices in Bermuda, XL Group plc this week reported its third quarter 2011 results. Commenting on the company’s performance, CEO Mike McGavick said: “Progress continued at XL in the quarter, and our own efforts were joined by a new factor — an improving rate environment. “Our top... Read more of this article
