Author Archive: Bernews1
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
Pompano Couple’s Golf Classic Day #1
The 7th Annual Pompano Couple’s Golf Classic 2011 Tournament kicked off yesterday [Nov.1] at the Port Royal Golf Club, the home of the PGA Grand Slam of Golf. The format today was a 2 ball modified best ball. A record field of 48 couple’s will compete for Net and Gross prizes for the week. . TEAM NET DIVISION – “Dark n Stormy Flight” Defending... Read more of this article
27-Yr-Old Man Dies After Accident
[Updated] A 27-year-old St. George’s man died this evening [Nov.1] following a serious accident which saw his bike collide with a wall in the Middle Road area by Whitney Middle School. A police spokesperson said, “Around 9:45pm on Tuesday, November 1st police and paramedics responded to a reported serious single vehicle collision on Middle Road... Read more of this article
Digicel: New BlackBerry Bold Touch 9900
Digicel has launched the new BlackBerry Bold Touch 9900 smartphone featuring the latest BlackBerry 7 OS software. CEO of Digicel Bermuda, Wayne Caines said “Digicel is pleased to introduce the powerful BlackBerry Bold 9900 smartphone packed with easy to use functionality and brilliant display features.” “When combined with our HSPA+ network,... Read more of this article
CellOne To Sell iPhone 4S For $999
CellOne today [Nov.1] announced that they will be carrying the new iPhone 4S and new BlackBerry suite of products. Frank Amaral, CellOne’s chief operating officer said, “The iPhone 4S is a truly outstanding device and the new BlackBerry Smartphones are definitely the best products RIM has ever produced. When running on Bermuda’s only 4G network,... Read more of this article
Photos/Videos: OBA’s Cannonier Wins By-Election
[Updated - OBA's Craig Cannonier wins with 82.89% of the vote, scroll to bottom for latest] The Devonshire South Central by-election is underway today [Nov.1], with the three contenders all out greeting voters at the Horticultural Hall in the Botanical Gardens. The polls close at 8pm, and we will bring you the results later this evening. Senator Craig... Read more of this article
