Author Archive: Bernews1

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

35 College Students Receive Awards

More than 35 Bermuda College students received financial awards and scholarships totalling more than $55,000 as they either began or continued academic and professional goals. Afternoon ceremonies held in the Bermuda College Student Centre yesterday [Feb.23] epitomised the significant role that industry and community share in partnership with the College... Read more of this article

Christopher’s ‘Gut-Wrenching’ Play

The curtain doesn’t rise on the world premiere of Bermudian actor Nicholas Christopher’s play “Hurt Village” until Monday [Feb.27] — but advance word on the intense drama set in a Memphis housing project is overwhelmingly positive. The play has been in previews since February 7 preparatory to next week’s official... Read more of this article

Upcoming: Bermuda Open Karate Champs

The 30th anniversary of the annual Bermuda Open Karate Championship [BOKC] will be on Sunday, April 22, 2012 at the Fairmont Hamilton Princess. Each year, the BOKC attracts hundreds of spectators who come to support Bermuda’s martial artists as they compete for the year’s coveted medals. On its 30th anniversary, it’s expected to attract an even... Read more of this article

Lancashire Ratings Not Hit By Departure

Standard & Poor’s Ratings Services said yesterday [Feb.23] that its ratings on Bermuda-based Lancashire Holdings Ltd. [A-/Stable] and its operating subsidiaries are not affected by the announcement of the departure of the president, which will be effective at the end of 2012. Neil McConachie [pictured] intends to serve as a nonexecutive director... Read more of this article

A.M. Best Revises Ratings For PMG

A.M. Best Co. yesterday [Feb.23] revised the outlook to negative from stable and affirmed the financial strength rating of A [Excellent] and issuer credit rating of “a” of Bermuda’s PMG Assurance Ltd. The ratings reflect PMG’s excellent capitalization, its historically strong operating performance and strategic position as the... Read more of this article

Opinion: ‘Where Is Our Village?’

[Written by Raisa Tuzo] “…Sleepin’ awake because of fear, children are drowning in their tears. We need a place where we can go, a land where everyone will have a hero.” – R. Kelly “Gotham City” I write today in an attempt not to ridicule anybody, or place blame on any particular group, social stratum, or political party, but to give... Read more of this article