Archive for February 24th, 2012
Video: UBP’s Kim Swan On Budget
[Updated] Speaking this morning [Feb.24] after the Premier delivered the 2012/13 Budget, United Bermuda Party Interim Leader Kim Swan said it “was more of a rhetorical presentation” as it had a lot of “well sounding words”. Mr Swan said he will be examining the Budget to see if there has been any “belt tightening”,... Read more of this article
Accident At Hamilton Intersection
[Updated] At approximately 11.30am this morning [Feb.24] an SUV smashed into the centre divider on the corner of Church and Burnaby street. Details of how the collision occurred are unclear at this time, however it did not appear that anyone was seriously injured. We will update with additional information as able. Update Feb.26: A police spokesperson... Read more of this article
Deloitte 2012 ‘Budget Snapshot’
Following the delivery of the 2012 Budget by Premier and Finance Minister Paula Cox this morning [Feb.24], Deloitte released a ‘Budget Snapshot’, which follows in full below, and is available here in PDF form. The ‘Snapshot’ says “Build One Another Further Debt Increases”, and included the graph below Budget Deficit Revised... Read more of this article
Airport Duty Rate Returns To 25%
In her Budget Statement this morning [Feb. 24], Premier and Finance Minister Paula Cox announced she would be rolling back the 10 percent hike in duty introduced at the end of last year. In a bid to stimulate the island’s stagnant economy, in November the Premier [pictured] formally introduced measures in Parliament increasing the rate of duty payable... Read more of this article
Full Statement: 2012/13 Budget
The full statement detailing the 2012/13 Budget which was delivered this morning [Feb.24] by Premier and Minister of Finance Paula Cox in the House of Assembly is below and here in PDF form. Highlights include airport duty going back down to 25%, Government removing the stamp duty on transferring mortgages from one bank to another and much more. Click... Read more of this article
Teekay Offshore Issues Q/4 Results
Bermuda’s Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. yesterday [Feb.23] reported the partnership’s results for the quarter ended December 31, 2011. During the fourth quarter of 2011, the partnership generated distributable cash flow of $41.6 million, compared to $26.9 million in the same period of the prior... Read more of this article
Changes To Senior’s Car/Land Tax
Seniors with the largest class of car and with homes valued at over $1 million will now have to pay tax on them, Premier and Minister of Finance Paula Cox said in her Budget speech this morning [Feb.24]. The Premier said, “The yield from land tax will be improved in 2012–2013 by adjusting the ARV threshold that provides an exemption for seniors... Read more of this article
2012 Bermuda Budget In Charts
This morning [Feb.24] Premier and Minister of Finance Paula Cox delivered the 2012 Budget in the House of Assembly. The charts show an estimated revenue of $909.6 million, and the estimated expenditure is $1,081.7 million. You can read the full 2012 Budget here, or view charts extracted from the budget report below: For comparison’s sake,... Read more of this article
Nova’s Database Management Service
Nova Limited, a Bermuda-based software development and IT consultancy company, is launching a new database management service and invites you to a free training and education session about Database Management and Business Intelligence to find out more. While working with customers and prospects, it became apparent to Nova that while there were experienced... Read more of this article
Upcoming: CURB Racial Justice Conference
Citizens Uprooting Racism in Bermuda [CURB] will host the Racial Justice Conference in March, a two-day event to promote dialogue and action around racial justice issues. CURB says, “The Racial Justice Conference is a two-day event to promote dialogue and action around racial justice issues. “This year’s theme is “Bermuda’s Criminal... Read more of this article
Video: $500,000 Allocated For CCTV
[Updated with video] $500,000 has been allocated for extended CCTV networking, Minister of National Security Wayne Perinchief said at the Post-Budget press conference this afternoon [Feb.24] “CCTV has played such an important role is securing convictions for offences committed in our communities that this initiative must be supported,” said... Read more of this article
Lazard Hires Cecil For Energy Arm
Bermuda-based Lazard Ltd. hired David Cecil, a former Houston-based banker at Bank of Nova Scotia, to expand its advisory effort for oil and gas companies, the Bloomberg financial news service reported yesterday [Feb. 23]. Mr. Cecil recently left Scotia and plans to join Lazard later this year, said a source who spoke on condition of anonymity. Mr.... Read more of this article
