Hashtag: #Finance
Annual Gross Domestic Product 2022 Report
The Ministry of Economy and Labour published the Annual Gross Domestic Product [GDP] 2022 Highlights, stating that “the Bermuda economy grew 6.4 per cent in real terms in 2022 as the economic activity for twelve of the nineteen industry groups contributed to positive growth in value added. ” A Government spokesperson said, “Today,... Read more of this article
Premier Burt Attends Annual Satoshi Roundtable
Premier and Minister of Finance David Burt is in Dubai attending the annual Satoshi Roundtable, a “gathering of top digital asset founders, leaders and executives.” A Government spokesperson said, “The Satoshi Roundtable is an invite-only event that has been running yearly since 2014. The Government receives invitations in recognition... Read more of this article
Minister Attends Fintech Conference In Barbados
Minister Jason Hayward attended the second Fintech Islands Experience 2024 [FIX 2024] held in Barbados from January 24th – 26th, 2024. A Government spokesperson said, “Widely attended by entrepreneurs, regulators, lawyers, policymakers, and financial services professionals from various jurisdictions, the conference featured over 125 speakers... Read more of this article
20th Consecutive Year Of Government Deficit
2022 marked the twentieth consecutive year of a Government deficit, according to the Bermuda Digest of Statistics 2023. The document, which covers statistics from the year 2022, said, “Government expenditure exceeded revenue by $77.4 million in fiscal year 2022/23. This marked the twentieth consecutive year of a Government deficit. Furthermore,... Read more of this article
CFA Dinner To Feature Nanette Abuhoff Jacobson
CFA Society Bermuda announced its Annual Forecast Dinner on January 25th, 2024, featuring keynote speaker Nanette Abuhoff Jacobson from Wellington Management. A spokesperson said, “CFA Society Bermuda is thrilled to announce its upcoming Annual Forecast Dinner, set to take place next week on Thursday, January 25th 2024 at the Hamilton Princess... Read more of this article
Premier Burt Provides Mid-Year Financial Update
Speaking during the last House 0f Assembly session of 2023, Premier and Minister of Finance David Burt provided an economic and fiscal update. The Premier’s full statement follows below: Mr Speaker, it is an honour to rise today on behalf of the Government, in our last sitting of 2023, to provide an Economic and fiscal Update to this Honourable... Read more of this article
Premier Provides Overview Of UAE, COP28 Visit
Speaking in the House of Assembly today [Dec 8], Premier and Minister of Finance David Burt provided an overview of his recent visit to the United Arab Emirates for Abu Dhabi Finance Week and the COP28 event in Dubai. “COP28 is the largest and most important environmental event of the year and also a diplomatic event where government leaders,... Read more of this article
Premier Burt Attending Abu Dhabi Finance Week
Premier David Burt is attending Abu Dhabi Finance Week, and said he had the opportunity to “engage with international leaders, deepen our economic ties, and discuss how Bermuda and the UAE can collaborate.” The Premier, who is also the Minister of Finance, posted the images below on Instagram and said, “Today at Abu Dhabi Finance Week,... Read more of this article
Bittrex Global To Cease Operations On Dec 4th
Cryptocurrency exchange Bittrex Global — which has an office in Bermuda – announced they have decided to cease operations, with all trading activity set to be disabled on Monday, December 4, 2023. A spokesperson said, “It is with great regret that we announce that Bittrex Global has decided to wind down its operations. This decision... Read more of this article
Binance Fined Billions By U.S. Authorities
Binance founder Changpeng Zhao has agreed to plead guilty and and pay a $50 million fine, and Binance itself also pleaded guilty and agreed to pay $4.3 billion in fines and restitution to the U.S. government. A New York Times story said, “Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange in the world, pleaded guilty... Read more of this article
Premier Updates On Tax Reform Commission
Premier and Minister of Finance David Burt provided an update on the Tax Reform Commission which “will be empaneled to look at the changes imperative to our existing system of domestic taxation to ensure it is in line with the requirements of the Global Minimum Tax while also examining what other changes to our local taxes are needed to ensure... Read more of this article
‘Provide Basic Banking Services To All Residents’
“We will legislate the requirement for licensed banks to have a duty to provide basic banking services to all residents,” Premier David Burt said today. This had been mentioned in the 2023 Throne Speech, which said, “In today’s digital age, the use of a bank account is a basic necessity for Bermudians. During this session, and similar... Read more of this article
