Category: Business
New Work Permit Policy For FinTech Companies
There will be a new Immigration policy for fintech companies setting up businesses in Bermuda, Minister of Home Affairs Walton Brown said, with the policy to allow a “fintech company that is new to Bermuda to receive immediate approval of five work permits within the first six months of obtaining the first Fintech Business Work Permit.” Speaking... Read more of this article
Premier Burt: MOU Terms To Create 70 Jobs
The MOUs signed with Binance Group and Medici Ventures have terms in which they will create 40 and 30 jobs in Bermuda, Premier David Burt said today, adding that the terms with Binance also include $10 million in funding for university-level training for Bermudians in blockchain and regulatory compliance and up to $5 million investment in new Bermuda-based... Read more of this article
US Company’s Unsolicited Interest In Ascendant
In a filing with the Bermuda Stock Exchange, Ascendant Group – the parent company of BELCO — gave notice of an “unsolicited, highly conditional, expression of interest” from US-based Twenty First Century Utilities. The full filing stated: “Ascendant Group Limited has received an unsolicited, highly conditional, expression... Read more of this article
Premier & Minister Do Interviews In New York
Bermuda’s work to position itself as the world’s first regulated hub for blockchain business and digital assets was the focus of a series of media interviews and live broadcasts in New York, Representatives of the BDA joined Bermuda Premier David Burt and National Security Minister Wayne Caines for a morning of interviews focused on emerging technologies. The... Read more of this article
Chance For Five Vendors To Win Free NY Trip
The Bermuda Economic Development Corporation [BEDC] has launched a new competition called ‘Vend2Win’, offering five local vendors the chance to showcase their products in New York, with the winners to receive a round-trip ticket to New York, accommodation and the chance to display their goods at The Reserve market. Entrepreneurs looking to enter... Read more of this article
CBA Brings The Workplace Into The Classroom
[Written by CedarBridge Academy Business and IT Teacher Latoya Francis] The quotation, “Iron sharpens Iron,” makes me reflect on a discussion with my colleague, Mrs. Dawn Nichols-Marshalls, a Business Studies Teacher at CedarBridge Academy’s sister school, The Berkeley Institute.She informed me of a new initiative they intended to pursue, one... Read more of this article
Balance Of Payments, International Investment
The Bermuda current account recorded a surplus of $198 million in the fourth quarter of 2017, according to the most recent Balance of Payments and International Investment Position report. “The current account surplus stood at $198 million for the fourth quarter of 2017. This represented a $75 million decrease from the $273 million surplus in... Read more of this article
Bermuda Stock Exchange Report: May 3 2018
May 3 saw 3,100 shares trade on the Bermuda Stock Exchange, valued at $41,130.00 BD. 1,500 shares were traded by BF&M Ltd, closing up 1.2% at $16.80 per share, while another 1,000 shares were traded by Somers Limited, closing down 3.7% at $14.25 per share. 600 shares were traded by One Communications Ltd, closing up 29.6% at $2.80 per share. The... Read more of this article
Clarien To Launch Clarien iBank Mobile App
Clarien Bank announced the launch of Clarien iBank Mobile, which will be available to download free for Android and Apple smartphones and tablets from Google Play and the Apple App Store from Monday, May 7, 2018. “Clarien iBank Mobile will be available to registered users of Clarien’s existing iBank online banking platform and will offer customers... Read more of this article
RA Public Consultation On Energy Sector
The Regulatory Authority of Bermuda has today launched the first stage of public consultation on a proposed Integrated Resource Plan [IRP] for Bermuda’s energy sector. The proposed IRP document, produced by BELCO, is now published and the public is encouraged to provide input on the proposal. Public and stakeholder submissions and comments will feed... Read more of this article
XL Group Announce First Quarter 2018 Results
XL Group Ltd reported its first quarter 2018 results, with net income attributable to common shareholders of $152.6 million, or $0.58 per fully diluted share, compared to $152.8 million, or $0.57 per fully diluted share, in the prior year quarter. Commenting on the Company’s performance, XL’s Chief Executive Officer Mike McGavick said: “We... Read more of this article
Goal To ‘Leverage The Longer-Term Value’
The Bermuda Tourism Authority said they aim to “leverage the longer-term value through a healthy return on investment,” saying they view the island hosting the World Triathlon Series as “part of an investment that can bring returns for many years to come.” The event was held this past weekend with an elite men’s race attracting... Read more of this article
