Bermuda’s PLP seeks contribusions from international business sector
Bermuda's Progressive Labour Party has written to the island's international companies asking for contributions towards their campaign fund for the next General Election.
Pindling accused of inciting Bahamas General Election violence
Bahamian opposition leader Sir Lynden Pindling, who all but destroyed his country's international business sector when he was Prime Minister from 1967 to 1992, has been accused of inciting gang members to murder a member of the government in the run up to a General Election on March 14.Housing Minister Chuck Virgill was shot to death just one day after Pindling appeared to incite members of drugs gangs who support him to take violent action against the government.
Cayman’s Proceeds of Criminal Conduct Law: Is it for real?
Is the Cayman Islands new ‘Proceeds of Criminal Conduct Law' a smoke and mirrors act - as some in rival jurisdictions have indicated - or is it a genuine attempt at deterring money laundering? The answer will only be known the first few times that the Cayman authorities receive requests for assistance from law enforcement agencies in the U. S. and the U. K.
Cable & Wireless sues Bermuda government for breaking monopoly
Cable & Wireless is suing the Bermuda government for breaking its monopoly on international calls by granting a licence to newly-formed rival TeleBermuda International. TeleBermuda plans to begin operating next month and is threatening to slash overseas rates by up to 17 per cent for calls to some countries. Sources in Bermuda say Cable & Wireless have not ruled out the possibility of applying for an injunction to prevent TeleBermuda from offering their service until the legal dispute has been determined by Bermuda Supreme Court.
Bermuda Code of Conduct to combat money-laundering
The Bermuda Monetary Authority has announced an updated Code of Conduct to assist in the detection and disclosure of information in relation to money laundering.
Bermuda lawyers Hall and Vaucrosson face bankruptcy hearings
The Minister of Finance has begun separate bankruptcy proceedings against lawyers Julian Hall and Charles Vaucrosson one week after obtaining judgments against them for alleged unpaid government fees and taxes.
Sir David Gibbons discusses Bermuda’s economy
Many Bermuda retailers will have to merge to survive, the tourism industry should be remarketed and new premier David Saul's skin colour is not a bar to him winning a general election, according to one of the island's most distinguished business and political figures, Sir David Gibbons.In a wide-ranging interview on the state of the economy and measures that can be taken to improve it, the Bank of Butterfield chairman and former premier said there was evidence that local building projects and international company formations and expansions put on hold because of the referendum were now being reactivated.
Bermuda expects international business boost after David Saul becomes premier
Bermuda's $29 billion-capitalized international business sector looks set for a renewed boom following the emphatic rejection of independence last month and the appointment of a new, business-oriented premier, David Saul.There are already signs that investors in insurance and other areas who had held off until after the referendum result was known are now going ahead with their plans to form on the island.
Bermuda’s National Pensions Scheme may not lead to boom for life insurers
The Bermuda Government's proposed compulsory national pensions scheme for the workforce will not necessarily lead to a boom in the business of life assurance companies on the island, according to one local insurance boss.John Sainsbury, head of Argus Insurance, said, initially, many of the plans are likely to be small and the administrative costs for insurers are likely to be high.
Bermuda lawyers Vaucrosson and Hall sued for alleged unpaid taxes
Lawyers Julian Hall and Charles Vaucrosson are among 12 defendants who are being sued by the Minister of Finance for a total of $1.05 million in unpaid taxes and fees.The government department has started legal action at Supreme Court to recover money it claims it is owed.
Bermuda’s new insurance laws – key provisions
Key provisions of Bermuda's proposed new insurance laws.
Bermuda budget will see relaxation of exchange controls in stages
The likelihood of foreign exchange controls being lifted in their entirety in the Budget on February 14 is considered to be virtually non-existent by Bermuda's financial community. While a complete overhaul of Bermuda's financial regulations may have been the Government's intention as recently as a few months ago, the issue has been turned on its head by talk of independence, according to businessmen.