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North Korea tells UN: We will never give up nuclear program

U.S. President Donald Trump said last month that he wanted to meet North Korean leader Kim Jong Un this year

International News via Reuters:

North Korea will never give up its nuclear program, the country’s Vice Foreign Minister Kim Son Gyong told the United Nations General Assembly on Monday, describing it as “tantamount to demanding it to surrender sovereignty and right to existence.”

It was the first time North Korea had dispatched an official from Pyongyang to address the annual gathering of world leaders for the General Assembly since the country’s foreign minister traveled to New York in 2018. 

“Imposition of ‘denuclearization’ on the DPRK is tantamount to demanding it to surrender sovereignty and right to existence and violate the Constitution,” said Kim, referring to the country’s formal name, the Democratic People’s Republic of Korea. “We will never give up sovereignty, abandon the right to existence and violate the Constitution.”

“Thanks to our state’s enhanced physical war deterrent in direct proportion to the growing threat of aggression of the U.S. and its allies, the will of the enemy states to provoke a war is thoroughly contained and the balance of power on the Korean peninsula is ensured,” he said. 

U.S. President Donald Trump said last month that he wanted to meet North Korean leader Kim Jong Un this year. Since Trump’s January inauguration, Kim has ignored Trump’s repeated calls to revive the direct diplomacy he pursued during his 2017-2021 term in office, which produced no deal to halt North Korea’s nuclear program.

‘NEVER WALK AWAY’

However, last week Kim said there was no reason to avoid talks with the U.S. if Washington stopped insisting his country give up nuclear weapons, but he would never abandon the nuclear arsenal to end sanctions, state media reported. 

“We will never give up nuclear which is our state law, national policy and sovereign power as well as the right to existence. Under any circumstances, we will never walk away from this position,” the vice foreign minister told the U.N. General Assembly.

North Korea has been under U.N. Security Council sanctions since 2006, and the measures have been steadily strengthened over the years with the aim of halting Pyongyang’s development of nuclear weapons and ballistic missiles.

But Russia and China now insist that U.N. sanctions on North Korea should be eased on humanitarian grounds and in a bid to convince Pyongyang to restart negotiations.  

Russia has also forged closer diplomatic and military ties with North Korea since invading Ukraine in February 2022 and Russian President Vladimir Putin and Kim have visited each other’s countries. Russia is using North Korean troops to battle Ukrainian forces.

Reporting by Michelle Nichols; Editing by Maiya Keidan and Deepa Babington

CIT: How many companies will pay the bulk?

Premier suggests this is conjecture over ‘sensitive matters’; Shadow Finance Minister says public are ‘entitled to know’

Shadow Finance Minister Dr Douglas De Couto and Premier & Finance Minister David Burt; The Corporate Income Tax is Bermuda’s response to the global minimum tax rate established by The Organisation for Economic Co-operation and Development (OECD)

The stability and dependability of the Corporate Income Tax could be affected by how many companies are paying the lion’s share.

This is the opinion of Dr Douglas De Couto, Shadow Finance Minister.

He told Bermuda Broadcasting, “Let’s say, for example, over half the tax comes from 3 or 4 companies… we’ll have to tread very carefully to keep those companies happy, to make sure they want to stay here.”

“That would mean a whole different approach to the situation than if, say, 50% of the tax is paid by 20 to 30 different companies. It will be much more robust situation…”

Dr De Couto was chasing answers in the House of Assembly on Friday, as he requested the aggregate amount of the first installment CIT payments for the largest 5, 10, 25, and 50 CIT payers.

David Burt, Premier and Finance Minister, said publishing those figures would be contrary to the public interest, but said he would endeavour to supply approximate percentage figures at a later date.

Bermuda Broadcasting asked the Premier about his response to Dr De Couto, the idea that a large percentage of the CIT is being paid by a relatively small group of companies, and whether that presents any instability.

Premier Burt responded, “I think we’re here engaged in conjecture and speculation… The answer I gave was that it was not in the public interest to disclose at this time.”

“We’re still working. There’s very sensitive matters. I’m traveling to Europe next week to meet with the OECD. There’s a number of various things that are happening… and we will have appropriate oversight mechanisms through the law at a later point in time.”

Speaking to Bermuda Broadcasting, Dr De Couto acknowledged that there is sensitivity, and Government is working very carefully to navigate this matter. However, he added that his written question had been with Government for more than three and a half weeks, and they could have communicated to request a different approach

“My question was carefully posed to not be identifying for any companies” Dr De Couto said.

“One of the questions we have that is very important to understand how we plan is – how much of the tax comes from the top few companies?”

“The Premier has offered to give us some of this information on a percentage basis… I respect that, and I look forward to receiving that information from him and his team.”

Dr De Couto also added that “due to all the promises that the government has made about the CIT money, this is perhaps one of the most important issues facing Bermuda’s future financial stability. And I think that the public… are entitled and anxious to know as much information as possible.”

‘BELCO crews might not respond right away’

Strong winds and heavy rain will likely hamper repair efforts

Hamilton, Bermuda (September 29, 2025) – BELCO Managing Director Shelly Leman said: “Bermuda Electric Light Company Limited (BELCO) today advised residents that it is closely monitoring the forecasts associated with both Major Hurricane Humberto and Tropical Storm Imelda and the likely impacts to the island.

Forecasts are showing a prolonged period of strong winds and heavy rain that will impact Bermuda between Tuesday and Thursday. In the event that residents lose power throughout this period, it is possible that BELCO crews may not be able to respond right away, but will start work as soon as it is safe to do so. The safety of our team and the public is paramount.

Residents are also asked to please not call BELCO if their power goes out as properties with an Advanced Metering Infrastructure (AMI) meter will alert BELCO to the outage. It is important to keep the phone lines open for emergencies such as pole fires and downed power lines.

The public can get updates on any storm-related outages on BELCO’s website and social media pages, inclusive of Facebook, X and Instagram.”

Police warn of new banking scam

Scammers posing as bank staff are stealing login info and draining accounts; seniors urged to stay alert

BPS press release:

The Bermuda Police Service (BPS) reminds the public to stay vigilant against scammers calling residents and identifying themselves as representatives of local banks, in order to acquire their banking information and gain access to their accounts.

Typically, an unsuspecting local resident is contacted by a scammer, claiming that there has been fraudulent activity associated with their bank account.

The scammer then requests the resident to share their online banking login information and may instruct that resident to click on links provided to download and install an application to allow remote access to their computer.

Once the fraudster has received the resident’s banking information and access to their computer or other electronic device, the con artist then proceeds to make withdrawals from the unsuspecting resident’s accounts.

Detective Chief Inspector Jason Smith of the Financial Crime Unit, advised, “Bona-fide bank employees will never ask customers to disclose their PIN number, security code or one-time password. Should you be contacted by someone purporting to be a bank employee and they ask you to provide that information, please hang up immediately. Thereafter make contact with your bank and advise them of the situation.”

Family members and friends are urged to speak with their senior citizen relatives about how to avoid being defrauded, as seniors are often targeted by swindlers.

Practical Scam Prevention Advice        

• Avoid social media messages with instructions to redeem gift cards or send cash.

• Don’t install any computer software recommended by an unknown caller.

• Hang up on callers who ask for personal or bank information and either call the specific business to confirm if there is a problem, or contact the police for advice.

• Check your bank account(s) regularly for any unusual activity.

• Report any suspected fraud to the relevant bank and the police immediately.

To make a police report regarding suspected fraud, please call 211, or visit the BPS community reporting portal at https://portal.police.bm/.

‘We’re facing a serious week of weather’

Government issues advisory ahead of twin storm threat 

The Ministry of National Security advises that the Emergency Measures Organisation (EMO) Executive met today to assess the latest updates on Hurricane Humberto and Tropical Storm Imelda, both of which are expected to affect Bermuda this week.

As of the Bermuda Weather Service (BWS) 3.00 p.m. update, a Tropical Storm Watch was in effect for Bermuda. Hurricane Humberto was located 279 nautical miles south-southwest of Bermuda, moving northwest at 11 knots.

Maximum sustained winds are near 120 knots (138 mph) with higher gusts to 145 knots (167 mph). Humberto is forecast to pass approximately 190 nautical miles northwest of Bermuda late Tuesday.

  • Winds: Tropical Storm-force winds are expected to reach marine areas by 6 pm – 7 pm Tuesday. Over land, winds will strengthen Tuesday evening, reaching 25–35 knots (29–40 mph) with gusts up to 50 knots (58 mph) in showers or thunderstorms overnight. Winds will steadily diminish early Wednesday morning.
  • Rain: Bands of precipitation will cross the island Tuesday into early Wednesday, with up to 2 inches of rainfall possible.
  • Seas: Conditions will deteriorate, with significant sea swells from Tuesday night into Wednesday.

Meanwhile, Tropical Storm Imelda was located approximately 718 nautical miles west-southwest of Bermuda, moving north at 8 knots, with maximum sustained winds near 50 knots (60 mph) and gusts to 60 knots (70 mph).

Imelda is expected to strengthen into a hurricane as it approaches Bermuda and may pass over or very near the island late Wednesday night into Thursday morning. Further guidance on Imelda will be provided after tomorrow’s EMO meeting.

Minister of National Security, the Hon. Michael Weeks, JP, MP, said: “We are now facing a serious week of weather, with Hurricane Humberto due to impact us first, followed by Tropical Storm Imelda.

“I strongly urge the public to prepare, stay vigilant, and follow official updates from the Bermuda Weather Service. These storms must be taken seriously, and I encourage all residents to make safety their priority and start preparations today.”

Key Points from today’s EMO meeting:

  • Causeway: No plans to close the Causeway in the next 24 hours. The EMO will review the situation at its next meeting at 10 am Tuesday before any decision is made.
  • Airport: No closure planned in the next 24 hours. No flights have been cancelled at this time, though passengers should check directly with their airlines for updates.
  • Cruise Ships: The Liberty of the Seas and Norwegian Aqua arrivals this week have been cancelled.
  • Schools: No disruption to public schools over the next 24 hours.
  • Government Offices: All Government offices will operate as normal over the next 24 hours.
  • Emergency Shelter: No current plans to activate the Emergency Shelter in the next 24 hours.
  • Public Transport:

o    Buses will continue normal service in the next 24 hours.

o    The Orange Route ferry service will be suspended as of 5 pm today due to wind conditions.

o    All remaining ferry services will be suspended from 8 pm Tuesday until further notice.

  • Beaches and Lifeguards: The red ‘High Surf’ Warning signs have been erected at marine parks and beaches. Lifeguard services along the South Shore are suspended until conditions improve. The public is strongly advised to stay out of the water and use extreme caution near shorelines.

Minister Weeks added: “Bermuda has been through hurricanes before, and we know preparation saves lives and property. Please use this time to secure your homes, check on your neighbours, and ensure you have the essentials you need.

“The EMO will meet again at 10 am tomorrow, and we will provide further updates at that time, particularly regarding Tropical Storm Imelda.”

For the latest official updates, please visit the Bermuda Weather Service at www.weather.bm. Government guidance on preparing for a hurricane or storm can be found here.

Future stars emerge as Warwick Academy sweeps girls’ titles at Kickstart Cup

The Athene’s Kickstart Cup 2025 successfully launched the island’s youth football season this weekend at the National Sports Centre, crowning six age-group champions in a tournament marked by both dominant victories and dramatic penalty shootouts.

A standout performance came from Warwick Football Academy, which swept all three Girls’ division titles, establishing itself as the early powerhouse in youth female football.

Girls’ academy dominance

Warwick Academy secured all three girls’ trophies in a decisive showing:

  • Under 7 Girls: Warwick claimed a clean 2-0 win over the Devonshire Colts in the final.
  • Under 11 Girls: Warwick Football Academy Manchester completed the clean sweep with a narrow 1-0 victory over the VYP Girls.
  • Under 9 Girls Drama: The closest girls’ final saw an internal academy clash go the distance. Warwick Football Academy Napoli finished level at 1-1 against Warwick Football Academy Inter Milan before winning the championship in a tense penalty shootout.

Boys’ trophies decided by penalties and power

The Boys’ divisions also delivered high drama:

  • Under 11 Boys Title: The final required kicks from the penalty mark after Junior Kix Stars White and Warwick Football Academy Ajax battled to a 2-2 draw. Junior Kix Stars White ultimately secured the title from the spot.
  • Under 9 Boys: The Dandy Town Hornets showcased their quality, defeating X-Road’s Warriors Black 2-0 to take the crown.
  • Under 7 Boys: The Boulevard Blazers were the most dominant team in the boys’ bracket, overwhelming the Devonshire Colts with a 5-0 victory in their final.

The tournament successfully kicked off the youth calendar, providing young players with an exciting return to competitive action ahead of the main league season.

Financing for hotel renovation is in place, owners reaffirm

Fairmont Southampton renovation is ‘progressing well’ – SDO has been finalised

The Fairmont Southampton Hotel is scheduled for a 2026 reopening. Photo by James Barbosa

Following a question in the House of Assembly on Friday, the owners of the Fairmont Southampton have reaffirmed that they have the required financing in place for the hotel’s renovation.

A spokesperson for Westend Properties Limited, the local affiliate of Gencom, said they look forward to welcoming guests in 2026.

Dwayne Robinson, Shadow Minister for Tourism, asked David Burt, Premier and Finance Minister, if Gencom has gathered all the required funding for the Fairmont Southmapton reopening.

The Premier brushed off the question and said the answer is in the public domain.

On September 20th last year, Alessandro Colantonio, Chief Investment Officer at Gencom, stated that the financing of the hotel renovation had closed.

While the hotel owners had stated that the project was fully funded in 2023, Mr Colantonio cited that it had been a complex process to “finalise all the necessary documentation”.

“We have completed the required documentation to close the financing,” he said, “and the balance of funds have been remitted for this redevelopment”.

A groundbreaking ceremony was held last November, heralding the beginning of construction and renovation.

Mr Robinson asked if the hotel is on track for a Spring 2026 reopening.

Owen Darrell, Minister of Tourism, did not mention a date but said that “Construction continues apace and, at this stage, the expectation remains for an opening of the 2026 season.”

Bermuda Broadcasting asked Westend Properties for an update, and a spokesperson responded that “Westend Properties has in place the required financing for the Fairmont Southampton Hotel renovation.”

“The renovation of the Fairmont Southampton is progressing well, and we look forward to welcoming guests back to the revitalized, iconic resort upon its planned reopening in 2026.”

“Further updates on the hotel and related timelines will be provided in due course.”

Additionally, the Special Development Order to permit construction of up to 250 tourism and residential units has been finalised.

Diallo Rabain, Minister for the Cabinet Office and Digital Innovation, told the House of Assembly that the SDO awaits Cabinet approval, and will be published and tabled in the House at the next sitting.

Bermuda Premier Division kicks off with upsets and drama

The Bermuda Premier Division season began with a bang this weekend, delivering upsets, last-minute goals, and intense drama across the island’s pitches.

Champions stunned

The headline result came at Bernard’s Park where defending champions, North Village Rams, were stunned by Devonshire Colts 2-1. Colts took the lead through Teniko Eve (20′) and doubled it with Elisha Darrell (55′). Though Jonte Smith (72′) pulled a goal back, the Rams could not find an equalizer, falling in a highly competitive opener.

X-Road’s win stoppage-time thriller

In the most dramatic match, X-Road’s stole a 2-1 victory against the Paget Lions with a devastating stoppage-time winner. After Paget took an early lead through Shakir Smith (13′), Samuel McKittrick (69′) levelled it. The drama peaked when Paget missed a penalty in added time, and X-Road’s immediately countered to score the winner through Donovan Thompson.

Hornets and Zebras battle to wins

  • Dandy Town Hornets secured a tight 2-1 victory over Young Men Social Club, with David Jones Jr. netting both goals for the Hornets.
  • PHC Zebras edged past St. George’s Colts 1-0, thanks to a solitary second-half goal from Enrique Rusell (57′), ensuring a solid start for the Zebras.

The intense first weekend confirms the challenge facing the reigning champions in the 2025/2026 season.

Bermuda to host major cricket event

We will host 2028 ICC World Cup Sub Regional Qualifiers

Bermuda has been selected as the host country for the 2028 ICC World Cup Americas Sub Regional Qualifiers next year, a major announcement for the island’s cricket calendar.
The news was confirmed today by the President of the Bermuda Cricket Board, Lloyd Smith.

The tournament, scheduled for next June, will see Bermuda competing on home soil against four other countries: The Bahamas, Brazil, Belize, and Panama.

Bermuda enters the qualifier with a formidable track record, having historically dominated the past ICC Americas Sub Regional tournaments. This strong performance has consistently seen the island nation advance to the final stages of the World Cup qualification process.

 Hosting the tournament will provide the national team with the home advantage as they aim to continue their supremacy in the region and earn a place in the next phase of the 2028 ICC World Cup Qualifiers.

High time for Europe to stand with Taiwan, foreign minister says in Poland

Taiwan, which China views as its own territory, has found an increasingly sympathetic ear in parts of central and eastern Europe since Russia’s invasion of Ukraine in 2022

International News via Reuters:

It is high time for Europe to stand with Taiwan given both face the same threats from authoritarian neighbours, the island’s foreign minister said on Monday, seeking to find common cause with European democracies during a visit to Poland.

Taiwan, which China views as its own territory, has found an increasingly sympathetic ear in parts of central and eastern Europe since Russia’s invasion of Ukraine in 2022, even though almost all European countries only maintain formal diplomatic ties with Beijing and not Taipei.

Addressing the Warsaw Security Forum, Taiwan Foreign Minister Lin Chia-lung said economic security was inseparable from national security.

“Today, authoritarian regimes, namely China, Russia, Iran and North Korea, have formed an axis of upheaval to challenge the rule-based international order. China is largely seen as the decisive enabler behind Russia’s invasion of Ukraine,” he said.

Europe faces threats from Russian hybrid operations, similar to what Taiwan faces from China, like cyber attacks and military exercises, Lin added.

“It is high time for Europe to stand with Taiwan, to forge a robust coalition for our shared values and halt the expansion of authoritarian regimes. Taiwan is ready to work with Europe; is Europe ready to work with Taiwan?”

This is Lin’s second visit to Europe this month, after earlier trips to Prague, Rome and Vienna, all of which earned a stern rebuke from China, especially as he was in Austria just a week after Chinese Foreign Minister Wang Yi.

China says Taiwan is one of its provinces with no right to state-to-state ties, a view the government in Taipei strongly rejects.

Lin said Europe should put forward policies to welcome more companies from semiconductor powerhouse Taiwan, and pointed to the example of major chipmaker TSMC’s investment in Germany.

“Through such economic interactions, Taiwan and Europe can forge a powerful synergy, one that fosters a resilient and diversified tech ecosystem and contributes to Europe’s strategic re-industrialisation which is essential in rearming Europe.”

Writing by Ben BlanchardEditing by Tomasz Janowski

Bermuda miss out on NORCECA spot

The Bermuda Women’s National Volleyball team’s impressive run at the 2025 ECVA Women’s Final Four tournament came to an end in the final, as they fell 3-1 to a determined Saint Lucia side. The defeat saw Saint Lucia claim the title and, crucially, the spot in the 2026 NORCECA Panamerican Cup.

The final was a highly anticipated rematch, coming just a day after Bermuda had defeated Saint Lucia in a thrilling five-set encounter during the pool stages.

However, the final delivered a reversal of fortunes. Bermuda started the match strongly, surprising Saint Lucia by taking the first set 25-23.

Saint Lucia, knowing the stakes—the right to represent the Eastern Caribbean Volleyball Association (ECVA) at the next level—regrouped powerfully. They controlled the next three sets with consistent attacking and defence, winning 25-20, 25-18, and 25-21.

Despite a strong tournament performance that saw them go undefeated in pool play, the final proved to be a bridge too far. Bermuda finishes the tournament as Runners-Up, a commendable result but one that sees them narrowly miss out on the ultimate prize of Panamerican Cup qualification.

Dollar retreats, consolidates earlier gains, amid US govt shutdown risk

Data on housing, durable goods, and revisions to the second quarter gross domestic product, meanwhile, came out higher than forecast

International News via Reuters:

The dollar eased against major currencies such as the euro and yen on Monday following a rally last week in the wake of a slew of stronger-than-expected U.S. economic data and ahead of a key nonfarm payrolls report that could offer further clues on the Federal Reserve’s policy path.

Data on housing, durable goods, and revisions to the second quarter gross domestic product, meanwhile, came out higher than forecast. In addition, U.S. jobless claims fell sharply. The economic reports prompted a pullback in expectations for Fed interest rate cuts. 

The greenback’s retreat also came amid the risk of a government shutdown, with funding due to expire at midnight on Tuesday. President Donald Trump will convene a meeting with congressional leaders at the White House on Monday in a last-ditch attempt to end the standoff.

“Traders are largely ignoring the risk of a government shutdown, and are instead fading last week’s dollar rally in anticipation of some softer labor market data releases in the days ahead,” said Karl Schamotta, chief market strategist, at Corpay in Toronto.

“Yields are ratcheting lower off last week’s highs, and bets on Fed easing are coming back a bit on the margins. This is supporting broader risk appetite and contributing to outperformance in the high-beta currencies against the dollar.”

Traders are currently pricing in 42 basis points of Fed easing by December and a total of 105 basis points by the end of 2026, about 25 bps less than levels seen in mid-September

In late morning trading, the dollar fell 0.6% to 148.585, after posting its best weekly gain of more than 1% since early July.

The dollar index – a measure of its value relative to a basket of foreign currencies – was down 0.2% on Monday to 97.90, having risen 0.5% last week.

The euro, the largest component in the dollar index, rose 0.3% versus the U.S. unit to $1.1734.

Top of investors’ minds was a looming U.S. government shutdown should Congress fail to pass a funding bill before the fiscal year ends on Tuesday. Without passage of funding legislation, parts of the government would close on Wednesday, the first day of its 2026 fiscal year.

Analysts say the dollar typically weakens ahead of such episodes, before rebounding once the funding dispute is resolved. Markets are likely to see it as a fresh headwind for an already sluggish labour market.

A shutdown would have implications for the release of Friday’s closely-watched non-farm payrolls report, as well as subsequent economic data, which may not be published.

Ahead of Friday’s jobs report, investors will also get figures on job openings, private payrolls and the ISM manufacturing PMI, among others.

“The shift in the Fed’s reaction function away from inflation concerns toward defence of the labor market, which leads to faster and earlier rate cuts and lower real rates but at the expense of higher-than-expected inflation, suggests we will remain in the U.S. dollar bear regime for longer,” said David S. Adams, head of G10 forex strategy at Morgan Stanley.

LEGAL BATTLE OVER FED GOVERNOR COOK

Investors are also closely watching the legal battle over Federal Reserve Governor Lisa Cook’s potential removal, as any threat to the Fed’s independence poses a far greater risk to the dollar than the government shutdown.

The Trump administration has asked the U.S. Supreme Court to allow President Donald Trump to fire Cook, arguing that her removal would be a lawful exercise of presidential authority.

In other currency pairs, the dollar slipped 0.1% to 0.7976 franc while sterling gained 0.2% to $1.3424

Analysts expect inflation data from euro zone countries to have little impact on the rate outlook or the single currency, as investors expect policy to remain stable. Spain’s European Union-harmonised 12-month inflation rate rose to 3.0% in September.

Analysts’ attention remained on the war in Ukraine and the potential for increased military spending.

In Japan, the diverging outlook for rates between the Fed and the Bank of Japan will remain in focus amid signs of a hawkish shift on the BOJ board.

In other currencies, the Aussie was last 0.3% higher at US$0.6565. The Reserve Bank of Australia announces its rate decision on Tuesday. Expectations are for the central bank to stand pat on rates.

Reporting by Gertrude Chavez-Dreyfuss in New York and Stefano Rebaudo in Milan ; Editing by Shri Navaratnam and Jamie Freed