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Stark quarterly Gross Domestic Product figures show the economy has substantially contracted for the first quarter of the year – the fifth quarterly reduction in a row. Minister for the Cabinet Office Wayne Furbert revealed yesterday GDP fell by 4.3 ...

Just a day after releasing the April Retail Sales Index report, the Minister for the Cabinet Office yesterday reported May figures showing an overall volume increase of 10.4 per cent year-over-year. That figure was arrived at after adjusting for the ...

The value of retail sales jumped 25.4 per cent in April, but largely because much of the island was locked down in the same month in 2020 during the pandemic. Wayne Furbert, the Cabinet Office minister, said the overall volume of local retail sales...

Bermuda recorded a first quarter 2021 balance of payments surplus nearly $100 million higher than for the same period the year before, Minister for the Cabinet Office Wayne Furbert has reported. In a press statement, the Minister said: “Bermuda’s tra...

The Bermuda Monetary Authority has announced that the Authority’s Deputy chairman, Donald Scott, has been appointed by the Minister of Finance to serve as chairman of the Board with effect as of 1 October. This will coincide with the departure of Je...

The RG/BSX Index climbed 9.54 (0.38 per cent) to close at 2,511.63 on volume of 9,000. The BSX Index finished up 27.81 (1.60 per cent) at 1770.90. The Bank of Butterfield closed up 24 cents (0.72 per cent) at $33.52 on the New York Stock Exchange.

The finance minister Curtis Dickinson yesterday refused to publicly divulge which countries are allied with Bermuda in the international discussions of the global tax initiative set to come to a head this October. But he will soon reconstitute the Ta...

A former finance minister “is scared for Bermuda” because of an international movement towards a global minimum corporate tax. While the island has previously faced such global pressures, Bob Richards, who was finance minister from 2012 to 2017, fear...

Former finance minister Bob Richards believes that bowing to international pressure to establish a corporate tax regime in Bermuda could be a fool’s errand. The average person thinks that income tax is easy to understand, he says, but in financial se...

US Treasury Secretary Janet Yellen said yesterday that deterring the use of tax havens will let countries compete on economic fundamentals — instead of by offering ever-lower tax rates that deprive governments of money for infrastructure and educatio...