Author Archive: Bernews1

Ace: ‘Strong Finish To Excellent Year’

Despite what its chairman called “a challenging operating environment”. Bermuda headquartered Ace Ltd. posted a billion dollar profit for the fourth quarter of 2010, up five percent from a year ago . In a statement issued yesterday [Feb. 2] Zurich-based Ace reported net income for the quarter ended December 31, 2010, of $2.92 per share,... Read more of this article

Da Squad: Local Artists Compilation Album

Shane Woodley will release his first compilation album “Da Squad Starting Eleven” next week Tuesday, February 8th, 2011, which features all local artists, producers and writers. The album will feature some of the island’s top musical talent including Troy Anthony, Jelani, Yung Mac, Kombat, KD da Beast, Fyah B, E-Levels, Candace Furbert, BLAC... Read more of this article

Intermezzo Café Wins Over St Paul’s Church

The Liquor Licencing Board this morning [Feb 3] refused St Paul’s AME church’s application for the denial of an “A” class liquor licence to the owners of the “Intermezzo Café”, proposed to be in the ‘Hodgson’ building thirty metres south of St Paul’s AME Church; and adjacent to the pink Presbyterian Church. Denying the application... Read more of this article

History: The Golden Age Of Bermuda Clippers

It’s been called the Golden Age of aviation, the pre-World War Two period when American vacationers arrived in Bermuda aboard opulently appointed flying boats providing comfort and style which rivalled that of any of the luxury ocean liners of the day. Pan American’s majestic fleet of flying boats — the “Clippers”, named... Read more of this article

QLD Urged To Seek Catastrophe Reinsurance

Queensland’s Premier is being urged to take out catastrophe reinsurance after it was revealed this week the disaster-ravaged territory is the only one of Australia’s six states not to have sought private market coverage for assets exposed to natural disasters. Australia’s other states as well as private insurance providers in the country... Read more of this article

Photos: High School Cross Country Champs

Yesterday [Feb 2] the High School Cross Country Championships were held, with Warwick Academy and Berkeley the big winners of the day. In the boys under 16 race, Warwick Academy swept the top three spots lead by Nico Barclay. In the boys over 16 race, Berkeley Institute students swept the three top spots lead by Juma Mouchette.In the girls under 16... Read more of this article

NY Court: Chimay Pleads Guilty in Fraud Scheme

An American who falsely claimed he was both related to European royalty and had $14 million in a Bermuda bank account, appeared in a U.S. court yesterday [Feb 2], and pleaded guilty to grand larceny in the first degree, a scheme to defraud in the first degree, securities fraud and forgery in the second degree. 47 yr old Guy Albert de Chimay was arrested... Read more of this article

Business Bermuda Annual General Meeting

This year’s Business Bermuda Annual General Meeting will be held on March 3, 2011 from 12 p.m. to 3 p.m. at the Fairmont Hamilton Princess, and the guest speaker is Premier Paula Cox. “Premier Paula Cox, through the years, has always provided tremendous support for the outreach efforts of Business Bermuda,” said Cheryl Packwood, CEO of Business... Read more of this article

Aerospace: Bermuda Has The Right Stuff

A new report says although the Isle of Man consistently “punches above its weight” and has created a profitable niche market providing off-shore advisory, professional and financial services to the global aerospace industry, Bermuda is an emerging competitor in the field. Released this week, the US Futron Corporation study on space competitiveness... Read more of this article

WikiLeaks: Bermuda Ban on Iran Insurance

[Updated] Bermuda’s move to ban insurers providing coverage for the Iranian regime’s state fleet ”provides us with another opportunity to highlight the risks of doing business with IRISL [Islamic Republic of Iran Shipping Lines] and the international community’s efforts to protect themselves from those risks”, US Secretary... Read more of this article

Photos: Sailing Frostbite Series

In light and shifty conditions the Royal Hamilton Amateur Dinghy Club’s Frostbite Series 3 was held in Hamilton Harbor this past weekend [Jan 31]. In the 420 fleet the junior girls team of Hannah Horsfield and Ellie Wollmann lead the fleet winning the last race of the day, and sit tied in 1st place with Jesse DeCouto, both boats have 8 points, very... Read more of this article

Firm With Frozen Assets ‘A Disgrace’

A controversial Palestinian construction firm which had its Bermuda assets frozen in 2009 was branded “a complete disgrace” in the British High Court today [Feb.2] for failing to pay multi-million pound liabilities owed to a former partner. Consolidated Contractors Company — owned by the Palestinian Khoury family — is being... Read more of this article