Bermuda Financial News

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

As you begin to prepare your 2024 tax return in the days ahead, you should pay close attention to a seemingly innocuous question on page 2 of the return. The question asks whether you owned or held “specified foreign property” where the total cost amount of all such property, at any time in 2024, was more than $100,000. If the answer is yes, the return instructs you to complete Form T1135, Foreign Income Verification Statement.

GalaxEye after launching a SyncFusion payload which combined Synthetic Aperture Radar (SAR) and optical imagery in orbit last year, announced that it has successfully tested its payload in extreme environments in space.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Hurricane Kirk strengthened on Thursday into a Category 4 storm in the Atlantic Ocean and waves caused by it could cause life-threatening surf and rip current conditions this weekend, forecasters said. Swells generated by Kirk were expected to reach portions of the Leeward Islands on Friday, Bermuda and the Greater Antilles on Saturday, and the U.S. East Coast and the Bahamas on Sunday, the Miami-based U.S. National Hurricane Center said. Kirk was expected to remain away from land, the center said, and there were no coastal watches or warnings in effect.

Subscribe to enjoy similar stories. New Delhi: India's apex consumer protection body has pulled up leading foreign and Indian liquor makers over so-called surrogate advertisements, in which liquor brands piggyback non-alcohol products.

Hurricane John strengthened once again on Thursday as it hurled rain at Mexico's southwestern coast dotted with ports and tourist hotspots, an area already soaked by the slow-moving storm system over the past several days. John has churned menacingly near the stretch of coastline since Monday, weakening and strengthening again as it impacted major cargo ports, temporarily shutting local airports as well as claiming at least five lives, mostly due to mudslides. AccuWeather meteorologist Jesse Ferrell referred to John as a «zombie» storm — a term that refers to systems that dissipate before strengthening back into a storm, first coined by the U.S. National Weather Service in 2020 when the remnants of storm Paulette regenerated near the Azores after striking Bermuda.

Swiss bank accounts as part of an investigation into allegations of money laundering and securities forgery linked to the Adani Group, dating back as early as 2021, citing newly released Swiss criminal court records. However, the Adani Group has firmly rejected and denied the «baseless allegations» presented in the Hindenburg post. In their response, the Adani Group reiterated that their overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws. They also clarified that they are not involved in any Swiss court proceedings, emphasizing that neither their group companies were mentioned in any such court documents nor have they received any requests for clarification. In a post on X on Thursday, the US short-seller said that the probe, which dates back to 2021, has shed light on financial practices involving opaque offshore entities tied to the Indian conglomerate.

Financial Services Commission (FSC) of Mauritius said IPE Plus Fund and IPE Plus Fund 1, which were mentioned in the Hindenburg report as investment vehicles in which Sebi chief Madhabi Puri Buch and her husband Dhaval Buch were investors, are not licensees of the regulator and are not domiciled in Mauritius. The Mauritius regulator, responding to the Hindenburg report, clarified that its legislative framework does not allow the creation of shell companies.

Mint on Wednesday in response to a questionnaire. After Hindenburg's Mauritius claim, the island country's financial services regulator in a press statement on Tuesday denied the fund being registered there. “We wish to clarify that IPE Plus Fund and IPE Plus Fund 1 are not licensees of the FSC and are not domiciled in Mauritius," the Mauritius Financial Services Commission said in the statement.

Adani Group companies fell by up to 7% Monday as the sentiment soured following fresh allegations by the US-based short-seller Hindenburg that Sebi chief Madhabi Puri Buch and her husband, Dhaval Buch, held stakes in Bermuda and Mauritius-based offshore funds used by Gautam Adani's brother, Vinod Adani, to «amass and trade large positions in shares of Adani Group.» After the initial drop on Monday, some Adani stocks recovered later in the day. Adani Wilmar, Adani Total Gas, and Adani Energy Solutions ended about 4% lower, while NDTV, Sanghi Industries, and Adani Port fell between 2% and 3%.

Narendra Modi government over the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch, the Congress on Monday threatened to launch a nationwide protest if its demand for a JPC (Joint Parliamentary Committee) probe into the matter is not accepted. AICC general secretary (Organisation), K C Venugopal, described the allegations as «very serious» and accused the Prime Minister of supporting Adani on the matter. «The Prime Minister's silence on the matter amounts to a destruction of credibility,» Venugopal told reporters at the airport here.

Hindenburg Research on Sunday responded to Sebi chief Madhabi Puri Buch's statement from the weekend that accused the short-seller of attempting a "character assassination" of the Buchs. In a post on its X account, the short-seller said that the markets regulator boss' response «raises numerous new critical questions,» and «includes several important admissions.» The Buchs had, on Sunday, addressed the allegations made by Hindenburg Research, dismissing them as “baseless,” Sebi chief Madhabi and her husband Dhaval said the US-based short-seller is resorting to character assassination in response to a show-cause notice issued by the regulator in connection with Hindenburg's earlier report on Adani.

IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, Jubilant FoodWorks among others will be in focus due to various news developments and first quarter results IRFC, Vodafone Idea, NMDC, Hudco, SJVN Voltas Shares of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas will be in focus as the companies will announce their first quarter results today.

Hindenburg Research as “baseless ”, Sebi chief Madhabi Puri Buch and her husband Dhaval Buch today said the US-based short-seller is resorting to character assasination in response to a show-cause notice issued by the regulator in the Adani controversy. “It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same,” the husband-wife duo said in a late night statement.

Pan Am, which is well-known for its opulent transatlantic flights, will make a comeback in 2025 with a voyage aboard a private jet. Established in 1927 and shutting down in 1991, the airline offers an opulent 12-day trip from New York in an attempt to bring back the golden age of travel, as per the reports of Yahoo Life. From June 27 to July 9, 2025, tourists will traverse Bermuda, Lisbon, Marseille, London, and Foynes in Ireland throughout their journey. The journey will be hosted by Pan American World Airways CEO Craig Carter and will replicate Pan Am's initial transatlantic itineraries.

As summer heats up, vitriolic debates in the US are peaking. I’m talking about the rift between men who wear shorts to office and those who consider these a workwear abomination. On the West Coast, especially in the tech sector, wearing shorts to work is perhaps unremarkable.

The fund was originally launched in September 2020 as part of the Schroder International Selection Fund range, available in most European countries and Bermuda. Nick Kirrage takes sole leadership of Schroders global value team as Kevin Murphy joins Whitmore's boutique Via the onshoring of the fund, Schroders has now made it available to UK investors. The strategy is run by managers Vera German and Juan Torres in a contrarian way and supported by a fundamental deep-value investment philosophy over a long-term investment horizon. German and Torres only invest in assets they believ...

CBI conducted searches at 14 locations on Friday after registering an FIR into the alleged Rs 5717-crore bank fraud by Chhattisgarh-based SKS Power Generation Ltd, officials said. In its FIR, registered on the orders of Allahabad High Court, the CBI has alleged that company promoted by SKS Ispat and Power Ltd. (SKSIPL) had availed Rs 6,170 crore loan from State Bank of India (SBI), L&T Infrastructure Finance Limited, PTC India Finance Limited, and State Bank of Bikaner and Jaipur which resulted in the default of Rs 5717 crore, they said. The CBI has booked Anil Mahabir Gupta, Director of SKS Power Generation (Chhattisgarh) Ltd, Anish Anil Gupta, Director of SKS Ispat and Power Limited, Mumbai and 26 others including two officers of State Bank of India, they said.

initial public offering, launched Tuesday, would be the largest by a US company this year if it prices at the top of its range to raise $1.04 billion.When it comes to all IPOs on US exchanges this year, it wouldn’t even make the top three.Also Read | JPMorgan Chase's Jamie Dimon shares his morning routine: ‘I get up at 4.30, flip through five papers…’The largest such offerings to date are by companies domiciled outside the US: Viking Holdings Ltd. in Bermuda, Amer Sports Inc.