Archive for February, 2012

Video: Clyde Best Featured On CNN

The CNN special report on racism in football “World Sport Presents: It’s Not Black & White” featuring Bermuda football legend Clyde Best aired yesterday, and is due to show on CNN again today [Feb.25]. Mr Best has also written a column — “Beautiful Game’ can transcend society’s ills” –that appears on CNN,... Read more of this article

$500M Of Sunken Treasure Returns To Spain

[Updated] A $500 million haul of gold and silver coins salvaged from a Spanish ship that sunk 200 years ago is heading from the US to Spain after five years of legal wrangling. US firm Odyssey Marine Exploration — co-founded by former Bermuda Premier Dr. David Saul — found the treasure in a wreck off Portugal’s Atlantic coast in 2007. However... Read more of this article

Thomson: “Sad Day For Consumer”

Mailboxes Unlimited president Steve Thomson said it is a “sad day for the consumer in Bermuda,” following the news in the 2012/13 Budget that duty at all ports of entry will be 25%. Noting it represents close to a 400% increase on duty on clothing, Mr Thomson questioned whether local clothing retailers were “negotiating the increase... Read more of this article

Changes To Rockaway Ferry/Mini Bus

Minister of Transport Derrick Burgess advised that the Rockaway ferry schedule will change for the summer season starting Monday, 16th April, 2012. Also, effective 1st April, 2012, the Government will no longer provide supplementary mini-bus service to Rockaway. Minister Burgess said: “In our efforts to contain costs whilst still providing a comprehensive... Read more of this article

ABIC’s Reaction To 2012/13 Budget

The Association of Bermuda International Companies [ABIC] said on Friday [Feb.24] its members support Government’s Budget commitment to targeting a reduction in deficit and debt levels over the medium to long term. ABIC said it is pleased to see that payroll taxes and their corresponding thresholds will be maintained at last year’s levels with... Read more of this article

‘Borrowing Is Short-Term Stop-Gap’

Former Premier and businessman Sir John Swan and political commentator Larry Burchall released a reply to the 2012/13 Budget released yesterday [Feb.24] by Premier and Finance Minister Paula Cox. “Government is planning to spend $1,081,700,000 while projecting revenue of $909,634,000. That leaves a shortfall of $172,100,000,” said the statement. “Borrowing... Read more of this article

Women’s Council Scholarship Fundraiser

In celebration of International Women’s Day 2012 and the theme: “Connecting Girls, Inspiring Futures”, the Minister of Youth, Families and Sports Glenn Blakeney, the Department of Human Affairs and the Bermuda Women’s Council, is encouraging the public to attend the launch of the “Extracurricular Scholarship for Girls” fundraising event... Read more of this article

Video: Education Minister On Budget

Minister of Education Dame Jennifer Smith said her Ministry’s allocation for the forthcoming fiscal year is $133,989,000, an increase of 5% over last year’s Budget. “I believe that all Members of the House, as well as the general public, understand that money spent on education is an investment in this country’s social well-being,”... Read more of this article

Ironshore Opens Boston P/C Centre

Bermuda’s Ironshore Inc. has opened a property/casualty production centre in Boston dedicated to the wholesale market, the company said on Thursday [Feb.23]. The Hamilton-based insurer said in a statement the centre will serve the eastern US region, including New England, New York, Atlanta and the Mid-Atlantic regions. It will complement Ironshore’s... Read more of this article

Video: Minister On Space & Sea Assets

[Updated with video] Bermuda space and seabed assets could be used to raise revenue Minister of Government Estates and Information Services Michael Scott said today [Feb.24] at the post-budget press conference. “The country assets are vast and varied, when I was Minister of Telecommunications you will know of the potential connected with the exploitation... Read more of this article

Video: Minister Minors On Job Creation

[Updated with video] Government’s job placement and retraining efforts are being tailored to meet the needs of both those seeking work and employers, Minister of Economy, Trade and Industry Patrice Minors said today [Feb.24]. Speaking at a Government press conference following the release of the Budget statement, Ms Minors said her Ministry would... Read more of this article

Video: Works Minister On New Initiatives

[Updated with video] Public Works Minister Michael Weeks announced a raft of new initiatives this afternoon [Feb.24] at a Government press conference held following the release of the Budget Statement. Among other projects, he said in the coming fiscal year the Ministry will tackle upgrades at the Tynes Bay municipal incinerator, the North Shore reverse... Read more of this article