Bermuda Financial News

Congress on Thursday alleged that the «Adani scam» has exposed the role tax havens play in hiding large-scale violation of Indian laws, and said the issue should have discussed at the recent G20 Summit. It also said that if a Joint Parliamentary Committee (JPC) probe is ordered into the allegations against the Adani Group, it will have to make sure that any loopholes for round-tripping and money-laundering are effectively shut. In a post on X, Congress general secretary Jairam Ramesh said the rise in Indian outward direct investment in the past 25 years has been a sign of deepening globalisation. «However, it is disturbing that offshore tax havens like Bermuda, Jersey and Cyprus rank among the top 10 destinations for Indian investment, according to the RBI,» he said. This is in addition to Mauritius that has long been suspected as a preferred destination for Indian money-laundering and round-tripping, the Congress leader noted. «The Adani MegaScam has exposed the critical role such tax havens play in hiding the large-scale violation of Indian laws and regulations.

Hurricane Lee has begun its anticipated northward turn toward Canada.As of 9 a.m. Wednesday, the storm was about 745 kilometres south-southwest of Bermuda, moving north-northwest at around nine kilometres an hour, with maximum sustained winds of 185 km/h.A tropical cyclone information statement has been issued across all three Maritime provinces and parts of Quebec, warning that the intense system is likely to bring heavy rain and wind in the days ahead.“The existing tropical airmass over Atlantic Canada will be further enhanced as the hurricane continues northward,” the statement said.“This weather pattern will cause an approaching front over the Maritimes to become stationary and increase the risk of heavy rainfall over the Maritime provinces tomorrow and Friday prior to Lee’s arrival.”It said with the expanding size of the hurricane and a long northward trajectory, building surf conditions and rip currents are expected along Nova Scotia’s Atlantic Coast in the coming days, especially Friday.11 am AST: Hurricane #Lee is expected to move toward New England and Atlantic Canada.

The assumption that an athlete’s birth sex dictates his or her performance level has made transgender participation in sports a lightning rod—but the issue is moot in coed sports, from competitive sailing to pickle-ball to e-sports. And in the future, athletics are likely to evolve so that mixed-gender competition becomes common. That will lead to a rise in sports that are just as rivetting but more inclusive.

The latest track from the Canadian Hurricane Centre suggests Hurricane Lee could strike Nova Scotia early Sunday morning.

Digital asset exchange Coinbase sets out plans for a global expansion flagging jurisdictions outside the United States as “near-term priority markets.”

Category 5 storm of the Atlantic season.Lee was not expected to make landfall while on a projected path that will take it near the northeast Caribbean, although forecasters said tropical storm conditions are possible on some islands. Meteorologists said it was too early to provide details on potential rainfall and wind gusts.The storm was located some 965 miles (1,555 kilometers) from the northern Leeward Islands.

₹1,725 crore. Meanwhile, DIIs registered a net inflow of ₹1,077.86 crore.US stocks dipped on Tuesday after a long weekend, weighed down by rising treasury yields and higher oil prices.

Genesis Global Trading (GGT), a New York-based subsidiary of Barry Silbert's Digital Currency Group, is set to halt its crypto spot trading services as of September 18. The decision comes directly from the company and is described as a voluntary measure due to unspecified business reasons.

BENGALURU, NEW DELHI : Six of the eight Bermuda and Mauritius-based public funds alleged to have been used by people with ties to the Adani Group for buying shares of the conglomerate’s listed companies, have been shut, according to regulatory filings in these countries accessed by Mint, posing a challenge for the Securities and Exchange Board of India (Sebi) in determining the ultimate beneficiaries of these investment vehicles. The Organized Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, recently reported that people with ties to the Adani family secretly held significant stakes in group entities in possible violation of the country’s law on maximum ownership by promoters in listed entities, through some of these funds.

Adani stocks are indeed linked to the Indian conglomerate, reported Indian Express citing inputs from the records accessed under its Pandora Papers investigation. Adani news LIVE Updates In its report, Financial Times mentioned two offshore shell companies registered in British Virgin Islands (BVI) as the main tool to invest in Adani stocks. According to IE report, the two shell firms are linked with Adani group.

NEW DELHI : The Adani Group faced fresh allegations of opaque financial dealings after a global network of investigative journalists published a report alleging that the company invested millions of dollars in its own companies through secret offshore structures. The Organized Crime and Corruption Reporting Project’s (OCCRP’s) investigations, published by The Guardian and Financial Times, dragged down the market value of the 10 Adani group stocks by ₹35,210 crore.

IOA) president PT Usha will take a step further as an administrator as she will be contesting the upcoming Commonwealth Games Federation elections for the post of vice-president.

Online real estate marketplace Listing Loop – co-founded by an entrepreneur who sold his previous proptech to Carsales.com and backed by basketballer Andrew Bogut – has secured investment from Bermuda-based Duncan Saville, Street Talk understands.

Hurricane Franklin is forecast to become the Atlantic’s first major hurricane of the season on Monday and is on track to pass close to Bermuda on Wednesday, the U.S. National Hurricane Center (NHC) said on Sunday.

(Reuters) -Franklin strengthened into a Category 4 hurricane on Monday morning, the U.S. National Hurricane Center (NHC) said in its latest advisory.

(Reuters) — Hurricane Franklin is forecast to become a major hurricane by late on Sunday, the U.S. National Hurricane Center (NHC) said on Saturday.

USA secured a place in the ICC Under-19 ODI World Cup after an impressive performance in the Americas qualifiers, joining the already qualified 15 teams for the event in Sri Lanka next year. They won five out of six matches to top the four-team qualifiers with 10 points, same as Canada, but topped the standings on better net run-rate (4.84).

Cryptocurrency exchange Coinbase has obtained approval from the National Futures Association (NFA) to offer investments in crypto futures to eligible customers in the United States.

It was some seriously coincidental timing when the Securities and Exchange Commission dropped its bombshell allegations against Joe Lewis on Wednesday. Among the claims being pursued in New York courts is that the British billionaire attempted to help two pilots who flew his private jet make a motza off insider information he had obtained about AACo.

Bankman-Fried is being sued along with three former executives by FTX. The legal action has been led by John Ray, a refinancing specialist who succeeded Bankman-Fried as chief executive of FTX following its collapse in November 2022. 

Shark Week, the highly anticipated annual event on Discovery Channel, returns for its 35th year with thrilling and captivating programming. This year, viewers can expect an up-close look at a great white shark feast, exploration of the effects of sharks feeding on illegal drugs in public waters, and a deep dive into the fascinating world of sharks. Hosted by Jason Momoa, Shark Week 2023 promises to deliver hours of exciting content.