Tuesday, August 23, 2016

Business

VAT rebate helps oil firm target more wells*

Aug. 22, 2016, 9:12 PM AST Comments

A $5.2 million value added tax (VAT) rebate will help onshore oil and gas company LGO Energy plc to target five more wells in the Goudron area, near Guayaguayare, a company statement said yesterday. “Goudron Exploration and Production (E&P) Limited (GEPL), LGO’s operating subsidiary, has


Auditor General: HSF Act needs amendments

Aug. 22, 2016, 9:11 PM AST Comments

Sections of the law governing the Heritage and Stabilisation Fund (HSF) “are open to interpretation” and amendments ought to be made, Auditor General Majeed Ali has said. In the auditor general’s second report on the financial statements of the HSF, released August 11, Ali cited s


VW urged to solve supplier dispute as plants affected

Aug. 22, 2016, 2:13 PM AST Comments

BERLIN (AP) — A legal dispute between Volkswagen and two suppliers has forced the car maker to suspend production of some models, affecting nearly 28,000 workers and drawing calls from the German government for a quick solution.



Trinidad and Tobago signs inter-governmental FATCA agreement with US

Aug. 22, 2016, 2:17 AM AST Comments

An agreement that will pave the way for the implementation of the Foreign Account Tax Compliance Act (FATCA) between Trinidad and Tobago and the United States has been signed. On Friday, Finance Minister Colm Imbert and US Ambassador John Estrada signed the agreement that was enacted in the United S


Massy earnings lower*

Aug. 21, 2016, 8:46 PM AST Comments

This week, we at Bourse review the most recent financial results of Massy, a closely watched stock on the local exchange. Being a local conglomerate, and as such, a general gauge of economic activity, we explore the potential value that investors can expect and offer our outlook on future performanc


T&T, US sign tax agreement*

Aug. 19, 2016, 8:30 PM AST Comments

FINANCE Minister Colm Imbert and United States Ambassador John Estrada yesterday signed a Model IA Intergovernmental Agreement (IGA) to improve international tax compliance through mutual assistance in tax matters.


Bankers Association of T&T appoints Schnoor as president

Aug. 19, 2016, 8:27 PM AST Comments

THE Bankers Association of Trinidad and Tobago (BATT) has appointed Anya Schnoor its new president. Schnoor, who is senior vice-president and managing director of Scotiabank Trinidad and Tobago Ltd and head, Caribbean East and South, Scotiabank, succeeds previous BATT president Darryl White.



Brazilian miner fined for illegal mining

Aug. 19, 2016, 1:59 PM AST Comments

A Brazilian national, who was behind an illegal mining operation in the Kaieteur National Park area, has been fined seven million dollars (One Guyana dollars=US$0.004 cents). The Ministry of Natural Resources in a statement Friday said that the funds will be paid to Guyana Geology and Mines Commissi