Category: Business
ACBDA: Order Prevents ‘Ambush Marketing’
The America’s Cup ‘Restricted Marketing Order’ is to “prevent ambush marketing and unauthorised commercial exploitation of the event by companies” and “prohibits attempts to position branding, signage and advertising in any locations where it will be in view of television cameras or spectator crowds, including aerial... Read more of this article
BCGC Cooperative Relationship With NJ Division
The Bermuda Casino Gaming Commission [BCGC] announced the “formalization of a cooperative relationship with the State of New Jersey’s Division of Gaming Enforcement [DGE].” The Commission said the relationship agreed to will allow the BCGC and DGE to share information on all matters involving the regulation of gaming. Richard Schuetz,... Read more of this article
Fitch: Demand For Cyber Insurance To Increase
The slew of recent ransomware attacks in over 150 countries reveals the widening scope of corporations’ cyber risk exposures, which is likely to increase demand for related insurance protection, Fitch Ratings says. “Insurers are in a unique position to assist customers in addressing the cyber threat. However, a cautious approach to adding cyber... Read more of this article
Bermuda Stock Exchange Report: May 16 2017
May 16 saw 21,900 shares trade on the Bermuda Stock Exchange, valued at $74,850.00 BD. 20,500 shares were traded by One Communications Ltd, closing down 10.7% at $2.50 per share, while another 800 shares were traded by Bermuda Press [Holdings] Ltd, closing down 0.1% at $8.50 per share. 600 shares were traded by BF&M Ltd, closing down 2.3% at $21.00... Read more of this article
Consumer Price Index: Inflation Increased 0.5%
Consumers paid 2.4% more in March 2017 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI], and the level of inflation increased 0.5 percentage points from the 1.9% measured in February 2017. The Consumer Price Index report said, “Between February 2017 and March 2017, the average cost of goods and... Read more of this article
‘FryDays’ Celebrating Their First Anniversary
FryDays Restaurant is celebrating their first year anniversary on Wednesday [May 17] and is inviting the community to help them mark the occasion. “We have passed the one year milestone and we are thankful to all of our customers and the FryDays team for their support,” said owner Mstira Weeks. FryDays — which is located in the Bermudiana... Read more of this article
Homers At Masterworks Museum Re-Opens
Homers Cafe at the Masterworks Museum of Bermuda Art in the Botanical Gardens — which closed in February for a ‘spruce up’ — has re-opened, and is now open from Monday to Friday, from 9.00pm to 4.00pm. A spokesperson said, “Catered by Buzz, we currently offer salads, sandwiches, baked goods and assorted hot and cold beverages.We... Read more of this article
Fitch: Reinsurance Pricing Won’t Turn This Year
The soft pricing in the global reinsurance market will continue for at least the rest of 2017, Fitch Ratings says. “We expect premium rates to continue declining, due to large volumes of under-deployed capital and sluggish demand from reinsurance buyers following several years of below-average catastrophe claims,” the ratings agency said. “Even... Read more of this article
Appleby Advises Genstar On Transactions
Appleby acted as local counsel to Genstar Capital [Genstar] in its entry into definitive agreements to recapitalize independent fund administrator Apex Fund Services [Apex] and simultaneously acquire Equinoxe Alternative Investment Services [Equinoxe]. With the addition of Equinoxe, Apex will increase its suite of middle office solutions and will administer... Read more of this article
Bermuda Stock Exchange Report: May 15 2017
May 15 saw 9,138 shares trade on the Bermuda Stock Exchange, valued at $277,083.00 BD. 8,138 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.8% at $33.50 per share, while another 1,000 shares were traded by Argus Group Holdings Ltd, closing down 4.3% at $4.50 per share. The BSX finished at 2,049.31, up 0.35% on the day. There was 1... Read more of this article
Insurer Pledges $50K For Inclusive Playground
MAMA and Boundless Playground said they are “thrilled” to announce the lead sponsor of the redesign of the WindReach Bermuda playground as Brit Insurance. Brit, a global specialty insurer and reinsurer, has pledged $50,000 towards the initiative, which will go towards the renovations that will bring recreational space for visitors of all... Read more of this article
Details Of Work Permits Issued For AC & Airport
Responding to Parliamentary Questions in the House of Assembly from Opposition MP Diallo Rabain, Minister of Home Affairs Patricia Gordon-Pamplin provided details on the number of work permits related to the America’s Cup as well as for companies involved with the airport redevelopment. Work Permits Related To The America’s Cup: 1,028 The... Read more of this article
