Archive for September, 2013

ABIC Welcomes & Supports Job Makers Act

Saying that international business and support services provide the majority of external revenue into Bermuda, ABIC said they welcome and support the Bill to amend the Incentives for Job Makers Act. ABIC – the Association of Bermuda International Companies — represents the internationally owned businesses which are physically located in Bermuda,... Read more of this article

Sergeant, Inspector: 11 Police Officers Promoted

At a ceremony held at Police Headquarters in Prospect Devonshire on Wednesday [Sept 25] eleven officers were promoted, five to the rank of Sergeant and six to the rank of Inspector. Dignitaries in attendance at the promotion ceremony were Governor George Fergusson, Minister of Public Safety Michael Dunkley, Commissioner of Police Michael DeSilva, Deputy... Read more of this article

Opposition: “Keep Safeguards In Place In Act”

In advance of today’s [Sept 27] second reading of Government’s Incentives for Job Makers Act 2013, the Opposition — via an email blast — rallied their members to contact their relevant OBA MP to “keep safeguards in place in the Act to promote opportunities for all Bermudians.” “The OBA’s ‘Incentives... Read more of this article

‘Spider-Man, Turn Off The Dark’ Still Booking

After seeing huge success and rave reviews on the stage since its debut on June 14, 2011 at Foxwood Theaters, Spider-Man, Turn Off the Dark, a play that features Bermudian actress Rebecca Faulkenberry as Mary Jane Watson, has seen its Broadway booking extended through May 25, 2014 in order to allow more people to take in the box office record breaker... Read more of this article

Charity Beach Bash Features Local Entertainers

The Family Centre has partnered with the Fairmont Southampton for their 4th Annual Beach Bash fundraising event on Friday, October 4th at the Fairmont Southampton Ocean Club. The ocean will be the backdrop for a line up of local performers including the Kennel Boys, Andrew Chamberlain, Sheila Smith, BONES, James Richardson, Rockfire Productions, and Mia... Read more of this article

Teekay To Acquire Second LNG Carrier

Bermuda-based Teekay LNG Partners L.P. has agreed to acquire a second 155,900 cubic meter liquefied natural gas [LNG] carrier newbuilding from Awilco LNG ASA, a Norway-based owner and operator of LNG carriers. The vessel, the second of two vessels to be acquired by the Partnership from Awilco, is currently under construction by Daewoo Shipbuilding &... Read more of this article

AXIS Expands Its Global Underwriting Platform

Bermuda-based AXIS Capital Holdings Limited announced the expansion of the Company’s global underwriting platform, facilitated through the establishment of a new syndicate that will provide access to Lloyd’s worldwide licenses and an extensive distribution network. The new syndicate, “AXIS Syndicate 1686,” which has been approved... Read more of this article

XL Estimate Germany, France Hailstorms Loss

XL Group said its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 is about $60 million, pretax and net of reinsurance and reinstatement premiums. The majority of these losses relate to the Reinsurance segment, the Company said According to catastrophe modeling firm AIR Worldwide, losses for... Read more of this article

S&P Lowers Ratings: Butterfield, HSBC Bermuda

[Updated] Citing a “persistent weakness in the economy,” Standard & Poor’s today [Sept 26] lowered the long-term issuer credit ratings on HSBC Bermuda and Bank of Butterfield, and said the outlooks on both banks is negative. S&P said, “These actions primarily result from our view that economic risks for Bermudian banks have... Read more of this article

7 Year Old Boy Rescues Longtail In Distress

[Updated] An injured Longtail was taken to safety thanks to a sharp eyed 7-year-old boy who spotted the bird at Horseshoe Bay on Sunday. Northlands Primary student Oliver Verster noticed the Longtail in difficulty, and brought it to the attention of the lifeguards. Lifeguard Kainoa Simmons retrieved the bird, and placed it in a large bucket with plans... Read more of this article

Bermuda Stock Exchange Report: Sept 26 2013

Today [Sept 26] saw a volume of 1,000 shares trade on the day, valued at $19,700 BD. All 1,000 shares were traded by BF&M Ltd, which closed slightly down at $19.70, a drop of 0.5%. The BSX closed at 1,183.46, a small decrease of -0.06%. There were 0 Advances, 1 Declines and 69 remain Unchanged. The full report from the BSX is available here [PDF].... Read more of this article

Weather Forecast For Friday September 27

Friday September 27th is expected to be mostly cloudy with a chance of a thunderstorm and rain in the afternoon, with the high to be near 26°C/78°F, and the low to be near 23°C/73°F, according to the Weather Underground. Winds are expected to be from the NE at 20 to 25 km/h. The relative humidity is expected to be near 70%. The sunrise will be... Read more of this article