HAMILTON, Bermuda, CMC - Premier Craig Cannonier has dismissed opposition complaints over a trip he and two cabinet colleagues took on a private jet to a meeting involving a group of investors in Washington, DC. Progressive Labour Party (PLP) MPs blasted the government for what they dubbed “Jetgate” after earlier calling for a Commission of Enquiry into the affair - a call that has been rejected by Governor George Fergusson.
HAMILTON, Bermuda, CMC - British Prime Minister David Cameron has put pressure on Bermuda and other British Overseas Territories (OTs) to "take the lead" on tax information exchange and beneficial ownership. Cameron on Monday wrote to Bermuda, along with the rest of Britain's OTs and Crown dependencies such as Guernsey and the Isle of Man. The call for continued partnership with the UK came just weeks before Britain hosts the next G8 summit on June 15.
HAMILTON, Bermuda, CMC – Bermuda says it will sign an inter-governmental agreement (IGA) with the United States and Britain saying the decision will further cement the British Overseas Territory as a reputable jurisdiction for conducting business in a transparent manner. Finance Minister E.T. Richards said the accord with Washington follows widespread discussions with local stakeholders and US Treasury officials. He said London has already produced an official draft IGA Model 2 for consideration by Bermuda.
HAMILTON, Bermuda, CMC - Tourism officials and hoteliers have hailed road shows to attract more visitors from the United Kingdom -- which currently provides just 10 per cent of Bermuda's air arrivals -- as a success. Last week's promotional activities in London, Birmingham and Manchester also received the support of British Airways (BA) executives, who had earlier criticised Bermuda -- a British Overseas Territory in the North Atlantic -- for failing to market itself effectively amid growing competition.
HAMILTON, Bermuda, CMC - Cash-strapped Bermuda has received a fresh warning its credit rating may be downgraded as the island's debts mount in the midst of a four-year recession.
International ratings agency, Moody’s Investors Service, on Wednesday placed Bermuda’s Aa2 rating on review for possible downgrade.
HAMILTON, Bermuda, CMC – The Bermuda parliament will “soon” debate a motion to decide whether or not to legalise the use of marijuana in this British Overseas Territory.
“We will bring to the House of Assembly a ‘take note’ motion so we can have a public debate on the issue. I don’t advocate one way or the other, but it’s something we should have a debate on,” Attorney General and Justice Minister, Mark Pettingill, told the Bermuda Sun newspaper.
HAMILTON, Bermuda, CMC -- Premier Craig Cannonier has fired back at an opposition party attack on its first 100 days in office, accusing it of "schoolyard fighting tactics".
"As the Premier, I find it amazing that the Progressive Labour Party is still resorting to schoolyard fighting tactics to provoke nonsensical dialogue, none of which will benefit Bermuda or Bermudians. While they continue to grasp at straws and propagate untruths, the world is passing Bermuda by.
HAMILTON, Bermuda, CMC - Bermuda's MPs have passed a resolution giving cabinet ministers a 10 per cent pay cut effective April 1.
“It’s more symbolic than substantive,” Premier Craig Cannonier said, noting that the overall saving was relatively small. “But in our present economic and fiscal circumstances, it’s the right thing moving forward.”
The Premier’s salary will decrease from US$168,069 to US$151,262 a year, while the Deputy Premier’s pay goes from US$125,491 to US$112,942.