Maria Bento admitted to to fraud by dishonestly disbursing public funds from WEDCO as a property manager
Maria Bento, a former employee of WEDCO, has been jailed for three and a half years following a Supreme Court hearing.
Bento, represented by Jerome Lynch, KC, admitted to paying just over $11,000 of monthly rent between December 2017 and February 2021 – less than 10% of the $117,000 owed.
This was done through forging the manager’s signature to authorise a rent reduction.
Among the funds stolen, Bento accepted $16,334 of reimbursement from WEDCO, a former government quango.
She also deposited $10,000 into a joint bank account that was in arrears for the same amount.
She further deposited $2,500 into a joint credit card account, $2,000 to a personal credit card account and $2,000 into an unknown bank account.
Bento also admitted to fraud by dishonestly disbursing public funds from WEDCO as a property manager.
She was charged with evasion of liability by deception, forgery and obtaining a money transfer by deception.
Puisne Judge Juan Wolffe said people who commit these offenses of dishonesty have a deeply ingrained selfishness and impervious thoughts of impunity.
He stated Bento felt compelled to “bite the hand that fed her.”
The sentencing for the second offense was set at six months imprisonment suspended for two years.
Judge Wolffe indicated the full judgment would be published next week.
Growth spurred by projected production gains in the EU, particularly in France and Germany
FILE PHOTO: A sugarcane field in development stage is seen at a farm in Jacarezinho, Brazil January 1, 2019. REUTERS/Marcelo Texeira/File Photo
International news via Reuters:
Global food commodity prices rose in February, driven by higher sugar, dairy, and vegetable oil prices, the Food and Agriculture Organization (FAO) of the United Nations said on Friday.
The FAO Food Price Index, which tracks monthly changes in international prices of globally traded food commodities, averaged 127.1 points last month, up 1.6% from January and 8.2% from February 2024.
The jump was largely driven by sugar prices, which shot up 6.6% month-on-month, pushed higher by concerns over tighter global supplies for the 2024/25 season, partly because of unfavourable weather conditions in Brazil.
Dairy prices increased 4% from January, with all major dairy products rising, spurred on by strong import demand which exceeded production in key exporting regions.
Vegetable oil prices rose 2% month-on-month and 29.1% year-on-year, largely due to higher prices for palm, soy, and sunflower oils, driven by supply constraints in Southeast Asia and strong demand from the biodiesel sector.
FAO’s cereal price index edged up 0.7% from January.
Wheat prices increased due to tighter supplies in Russia and concerns over crop conditions in eastern Europe and north America, while maize prices continued to rise due to tightening supplies in Brazil and strong U.S. export demand. Conversely, world rice prices fell by 6.8% in February.
Meat prices edged down 0.1% on the month.
In a separate report, the FAO predicted a modest increase in global wheat production for 2025, estimated at 796 million tonnes, some 1% higher than the previous year.
This growth was supported by expected production gains in the European Union, particularly in France and Germany.
However, challenges such as dry conditions in eastern Europe and excessive rainfall in western European could impact yields, the FAO warned. In the U.S., wheat acreage was expected to expand, though yields might decline due to drought conditions.
Rice production was forecast to reach a record high of 543 million tonnes in 2024/25, driven by positive crop prospects in India and favourable growing conditions in Cambodia and Myanmar.
The FAO also revised its estimate for global cereal production in 2024 to 2.842 billion tonnes, marginally higher than the 2023 level.
Reporting by Crispian Balmer; Editing by Alvise Armellini
Nearly 200 countries had agreed to launch the “loss and damage” fund at COP28
FILE PHOTO: Children wade through water in a flooded residential area following heavy rains in Bekasi, on the outskirts of Jakarta, Indonesia, March 4, 2025. REUTERS/Ajeng Dinar Ulfiana/File Photo
International news via Reuters:
The United States has withdrawn from the board of the U.N.’s hard-negotiated climate damage fund, dedicated to helping poor and vulnerable nations cope with climate change-fuelled disasters, a letter seen by Reuters showed.
The withdrawal is one of many steps taken by President Donald Trump’s administration to end U.S. support for addressing climate change and comes amid a broader pullback by the world’s richest country from multilateral initiatives.
Since taking office in January, it has halted the participation of U.S. scientists in global climate assessments, withdrawn from funding deals to help nations reduce coal use, and again taken the country out of the Paris climate agreement.
Nearly 200 countries had agreed to launch the “loss and damage” fund at the COP28 U.N. climate summit in 2023, in a victory for developing nations that had demanded help for years over increased extreme weather events.
“Both the United States Board Member and United States Alternate Board Member will be stepping down, not to be replaced by a U.S. representative,” Rebecca Lawlor, the U.S. representative on the fund’s board, said in a March 4 letter to fund co-chair Jean-Christophe Donnellier.
The withdrawal is “effective immediately”, it added.
The U.S. Treasury Department did not immediately respond to a request for comment.
The climate damage fund is hosted by the World Bank, whose president is appointed by the United States. The U.S. letter did not mention any changes to the hosting arrangement, or make clear if quitting the board entailed a full pull-out from the fund.
As of January 23, wealthy countries had pledged $741 million to the fund, according to U.N. data, with the United States putting up $17.5 million. It is unclear if it will now honour that pledge.
The fund is due to start financing projects this year, supporting vulnerable countries that have suffered irreparable damage from drought, floods and other climate impacts, such as agricultural land rendered barren.
Activist Harjeet Singh said the United States’ withdrawal from the fund did not absolve the country of its responsibility to address climate damage.
“As the largest historical emitter, the United States bears a significant share of the blame for the climate adversities affecting vulnerable populations worldwide,” said Singh, director of the non-profit Satat Sampada Climate Foundation.
Reporting by Kate Abnett; additional reporting by Virginia Furness; editing by Simon Jessop, Aidan Lewis
Traders expect the Bank of England will cut rates more slowly than other central banks
British pound coins are seen in this illustration taken, November 9, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
International news via Reuters:
The pound headed for its worst weekly performance against the euro in over two years on Friday, as a boost to European spending drove a broad rally in the single currency, while against the dollar, sterling rose ahead of U.S. jobs data.
The euro has surged across the board this week, logging its best weekly performance against the dollar since March 2009.
Against the pound, it was set for a weekly gain of 1.5%, the most since January 2023.
It was last up 0.4% at 84.03 pence. The pound was up 0.4% against the dollar at $1.292.
European leaders have rallied round Ukraine, with a view to reaching a peace deal, and pledged to spend more on their own defence in view of the shift in the U.S. stance under President Donald Trump.
Spending of around $1 trillion, spurred by Germany’s overhaul of its fiscal rules to release funds for infrastructure and defence, as well as European Union efforts to increase its joint borrowing, have transformed investor sentiment.
Equity investors have poured money in at the fastest rate in almost a decade and the euro has soared in response, bringing gains versus the pound to 1.2% so far this year and to 1.1% against the dollar. Sterling by contrast is up just 0.4% against the U.S. currency.
The pound has drawn support from the expectation among traders that the Bank of England will have to cut rates more slowly than other central banks, including the Federal Reserve.
Yet the focus for investors has shifted away from the interest-rate debate and towards the outlook for global capital flows. In particular, they are seeking alternatives to the United States, given a darkening economic outlook and high uncertainty over trade and fiscal policy.
The mood around the pound is nervous.
On March 26, the Office for Budget Responsibility, the UK public finances watchdog, issues its own forecasts on the economy and borrowing.
Sluggish economic growth and higher government borrowing costs have put finance minister Rachel Reeves under pressure to clarify how she intends to balance the books without breaking her own fiscal rules.
“A light data calendar has seen the pound continue to trade in the shadow of the euro,” analysts at Monex Europe said.
“It is also not a constructive environment for sterling in our view, with growing noises around the difficult decisions facing UK Chancellor Rachel Reeves. We suspect this will become a major focus in the coming weeks, ahead of the March 26 economic update,” they said.
Reporting by Amanda Cooper; Editing by Barbara Lewis
The amount of sewage pumped into Britain’s waterways has sparked public anger
FILE PHOTO: Signage is seen on a Thames Water service vehicle, in London, Britain, February 17, 2025. REUTERS/Toby Melville/File Photo
International news via Reuters:
Six British water companies on Friday defeated mass lawsuits valued at over 1.5 billion pounds ($1.9 billion) for allegedly under-reporting sewage discharges and overcharging millions of customers.
The utilities companies, including Britain’s largest water provider Thames Water, were accused of misleading industry regulator Ofwat about the number of pollution incidents, which meant they were able to charge higher prices to customers.
Environmental and water consultant Carolyn Roberts brought the case, which was the first environmental competition law action to be brought in the United Kingdom.
But the six companies – which also include Anglian Water, Northumbrian Water, Severn Trent, United Utilities and Yorkshire Water – argued the cases should be thrown out at a hearing in September.
The Competition Appeal Tribunal said in a written ruling on Friday that the cases were excluded by the effect of the Water Industry Act 1991, but that they would have approved the cases otherwise.
The ruling comes as the amount of sewage pumped into Britain’s waterways has sparked public anger, prompting the government to pledge tougher oversight.
Reporting by Sam Tobin; editing by William James and Catarina Demony
On his first official tour of regiment operations, Governor Andrew Murdoch joined troops on their last day of recruit camp
Credit: Royal Bermuda Regiment
The following statement was issued by the Royal Bermuda Regiment:
“His Excellency the Governor and the Royal Bermuda Regiment’s Commander-in-Chief, Andrew Murdoch, made his first official visit to Warwick Camp, where he toured the site and joined new recruits for fitness tests and lunch.
The visit to observe troops and battalion operations also included a trip to the RBR Coast Guard base in Sandys.
At Warwick Camp last month, His Excellency joined in as the regiment’s newest soldiers and members of its full-time staff completed two mandatory fitness tests – the Personal Fitness Test, which includes push-ups, sit-ups and a beep test, and the Operational Fitness Test, where participants undertake a two-mile weighted run before several scenario-based physical exercises.
The visit took place on the last day of the recruits’ foundational training course.
RBR Commanding Officer Lieutenant-Colonel Duncan Simons escorted His Excellency on a tour of the camp, during which he met and had lunch with new recruits.
“I’m delighted to join you on your final day of recruit camp,” the Governor told troops. “Congratulations on getting this far. I can see you are working well as a team. Serving in the military will give you skills, experiences and friendships for life.”
His Excellency also visited and spoke to key operational personnel that helped to make the recruit camp run smoothly, such as medics, cooks, regimental police and members of the motor transport section.
He said: “As a former logistics officer in the Royal Navy, I wanted to make sure, while on my first visit to Warwick Camp, that I was able to speak with departments that ‘make things happen’ behind the scenes.”
The Governor added: “It’s a good thing to meet and show support to soldiers who don’t normally get the chance to meet and talk with their Commander-in-Chief.”
Credit: Royal Bermuda Regiment
He was collected by a Coast Guard vessel at a Southampton dock, from where he was taken to Scenic House, the maritime unit’s headquarters in Sandys, with a brief tour of the Great Sound en route.
At the base, His Excellency received a presentation and tour of the facilities by RBR Coast Guard Commander Acting Major Jeffrey Patterson.
The Governor said: “It was good to visit this full-time operational arm of the Royal Bermuda Regiment to see the assets and learn about the unit. They are clearly a skilled, dedicated and essential unit to support the people of Bermuda.”
Lt Col Simons noted: “As Commanding Officer, it was a privilege to show His Excellency around both Warwick Camp and Scenic House, and to introduce him to the recruits and the staff supporting recruit camp. His interest and engagement in the regiment is refreshing and I look forward to working together to improve the unit and ensure its future success.”
For more information or to join the Royal Bermuda Regiment, visit rbr.bm or call 238-1045.”
The cricket all-rounder out of retirement and ready for international duties
Kamau Levrock is back. The Bermuda cricket star, who announced his retirement from the national team one year ago, has officially communicated to the Bermuda Cricket Board that he is once again available to represent the island in any upcoming international competitions. Cal Blankendal, Executive Director for the Bermuda Cricket Board, welcomed the all-rounder’s decision.
Mr Blankendal says that gone are the days of automatic selection. Case in point, former Team Bermuda skipper Delray Rawlings was famously left off the team ahead the World Cup sub-regional qualifiers in Argentina in December. So, in keeping with the BCB’s new approach, the various committees will first meet with the star cricketer before any decisions are made about who is or who isn’t part of the National Team selection pool.
Bermuda’s voting system, obstacles for 3rd parties or independents, and pros & cons of other systems
Political Commentator Cordell Riley and Gary Foster Skelton reflect on Bermuda’s 2025 General Election, in which the victorious PLP did not claim more than half of the vote – a first in Bermuda’s modern electoral history.
All the same, the PLP won more votes than any other party or group, and retained the Government.
To be clear, no one is legitimately questioning the result of the election or its credibility – the topic being explored here is whether or not the current electoral system adequately reflects the will of the people.
Cordell Riley and Gary Foster Skelton discuss Bermuda’s first-past-the-post voting system, the obstacles for 3rd parties or independents, and the pros & cons of other systems such as Proportional Representation.
The dollar index was on a four-day losing streak on Thursday, falling to a four-month low
FILE PHOTO: U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
International news via Reuters:
The euro touched a four-month peak against the U.S. dollar on Thursday after the European Central Bank cut interest rates for the sixth time in nine months, as expected, but revised higher its near-term inflation forecast.
The single European currency rose 0.5% to $1.0848, after earlier hitting a four-month high of $1.0854. The euro has gained 4.5% so far this week, set for its biggest weekly jump since May 2009.
Germany is ramping up spending, with a massive 500 billion euro ($540.90 billion) special fund sought for infrastructure and plans to increase defense investment long-shackled by rigid borrowing rules. Hefty government spending, which can be supportive for growth overall, can also exacerbate price pressures.
Measures of longer-term inflation in the euro zone have already surged from around 2.05% early this week to 2.24% by Thursday, an unusually large shift. The ECB has raised its inflation forecast to 2.3% this year, above the 2.1% seen three months ago.
The dollar, on the other hand, continued to struggle on Thursday, as the United States under the Trump administration pressed ahead with planned tariffs that have raised fears of a prolonged global trade war that could have severe repercussions for economic growth and inflation.
For now, the attention is on Europe amid a Bund sell-off that saw the 10-year benchmark yield on Wednesday post its biggest daily rise in more than 25 years.
“The ECB is likely to be fairly cautious of treading such new ground and higher interest rates may prevail as a result,” said Lindsay James, investment strategist, at Quilter in London.
A big focus for investors is the expected impact of Germany’s huge spending plan on ECB monetary policy. ECB President Christine Lagarde, in a press conference, said the spending proposals would boost European growth.
But she noted that the ECB needed to be “attentive, vigilant” and to understand how it was going to work. “What the timing will be, what the financing will be so that we can then draw the conclusions and appreciate how much it will contribute to growth and what impact it would have eventually on inflation,” she said.
Across the Atlantic, the dollar index, which measures the greenback against six peers, was on a four-day losing streak on Thursday, falling to a four-month low. It was last down 0.4% at 103.88.
Trump’s administration, which has slapped tariffs on Canada, Mexico and China, gave a one-month reprieve on auto import levies to its nearest neighbors, again showing how rapidly the trade landscape can shift.
“It is clear that in the case of a deepening U.S. slowdown, ongoing good news from Europe and noisy U.S. tariff policy could add fuel to the fire,” Barclays analysts wrote in a research note.
The greenback fell 0.5% against the Canadian dollar to C$1.4272.
Canadian Prime Minister Justin Trudeau said on Thursday that Canada would continue to be in a trade war with the United States for the foreseeable future. He would continue to engage with senior Trump administration officials about the tariffs on all Canadian imports, he said.
Reporting by Gertrude Chavez-Dreyfuss in New York and Yadarisa Shabong in Bengalaru; Additional reporting by Kevin Buckland in Tokyo; Editing by Jacqueline Wong, Sonali Paul, Alex Richardson, William Maclean
Jason Hayward, the Minister of Economy and Labour says its not a concern for the government
Bermuda’s economy contracted marginally for the first time after several quarters of growth, according to the Ministry of Economy and Labour.
After adjusting for inflation, the economy fell by an estimated 1.1% percent during the third quarter of 2024 compared to Q3 2023.
Jason Hayward.. the Minister for Economy and Labour said this was due to an increase in imports of goods and reduced spending by households and the government.
Government spending declined by 1.6% percent due in part to lower expenditure on wages and professional services, according to the Minister.
Meanwhile, 48 new local businesses registered in Bermuda bringing the total number of businesses registered on island to 4,003.
Gross capital formation increased by 10.2% percent to $208.2 million dollars.
Construction investment rose 5% percent while investment in equipment went up 17.3 % percent compared to the 2023 Q-3 figures.
Minister Hayward further stressed that the government will soon implement cuts on fees and taxes to boost consumer spending to encourage economic activity.
For the full new conference, click the video link below.
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