Business Express

Thursday, September 18, 2014

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From Shanghai to Trinidad

Ask the average Trinidadian about the Shanghai Construction Group (SCG), and you will likely get an earful about it being former prime minister Patrick Manning’s hand-picked contractor, an invasion of Chinese labourers, something about those funny looking multi-million dollar buildings, and of course, that National Academy for the Performing Arts (NAPA) in Port of Spain and its problems. Read more »

  • T&T ranking in top 30 but gas rates too high

    By itself, the Ryder Scott annual audit of this country’s natural gas reserves is no reason for panic by government or among industrialists and the population. The company’s report showed that proven natural gas reserves declined from 13.1 trillion cubic feet (tcf) in 2012 to 12.2 tcf in 2013. Probable reserves fell from 6.1 tcf to 5.5 tcf, and possible improved from 5.9 tcf to 6.1 tcf. Read More »

  • Nine-year comfort zone

    According to the Ryder Scott company, Trinidad and Tobago’s proven natural gas reserves were at their lowest level in 11 years last year – 12.2 trillion cubic feet (tcf). On the face of it, that seems a development worth worrying about. Read More »

  • Unemployment up 3.7% in 2013

    Young people between the ages of 15-29 account for more than 40 per cent of all unemployed persons in Trinidad and Tobago. The rate of unemployment in Trinidad and Tobago edged up to 3.7 per cent in the fourth quarter of fiscal 2013, from the previous historical low of 3.5 per cent in the third quarter, the Budget document “Review of the Economy 2014” states. Read More »

  • The new plantocracy

    “Green” offices with plants make staff happier and more productive than “lean” designs stripped of greenery. This claim was made in an article a friend sent me. It said that if you have an office bare like Mother Hubbard’s cupboard and you put some plants in it you can improve productivity by 15 per cent. Research showed plants in the office significantly increased workplace satisfaction, levels of concentration, and air quality. Read More »

  • Day-to-day budget not enough

    The Trinidad & Tobago Coalition of Services Industries (TTCSI) believes that the measures outlined in the 2015 fiscal Budget presentation should have been geared towards transformation of the economy, rather than facilitating the country’s day-to-day operations in a piece-meal fashion. Read More »

  • Where T&T’s LNG ends up

    Production of liquefied natural gas (LNG) declined by 4.6 per cent during the October 2013 to March 2014 period, to 362.5 trillion British Thermal Units (BTU), from 379.8 trillion BTU one year earlier, a Budget 2014/2015 documents shows. Read More »

  • Champions of business

    For the past ten years, the Trinidad and Tobago Chamber of Industry and Commerce has been hosting its prestigious Annual Business Hall of Fame with a gala ceremony to recognise and celebrate the contribution of Business to the national community. In the past decade, 23 outstanding individuals have been inducted into our Hall of Fame, which remains the only one of its kind in Trinidad and Tobago. Read More »

  • Energy Chamber wades in

    The Energy Chamber believes that cautious optimism should still be the watchwords for the country’s energy sector future following Finance Minister Larry Howai’s presentation of Budget 2014/2015 last Monday in Parliament. Read More »

  • American dollar strongest in a year

    In the world of currencies, the United States dollar is starting to look like a safe home in a tough neighbourhood. A strengthening American economy, combined with a gloomy outlook for growth elsewhere, is pushing the US currency sharply higher. The dollar is up 6.4 per cent against a group of major currencies since the start of May and has risen in three of the past four months. Read More »

  • A worldwide panic

    The tourism industry has been experiencing a series of epidemic outbreaks for over two decades, including SARS, Bird Flu, Foot and Mouth disease, Dengue and Ebola. Therefore, crises of this nature, are not uncommon to the tourism industry. Read More »

  • Barbie back at Hilton

    Hilton Buenos Aires and Mattel have teamed up again to re-introduce the Barbie Room to the newest generation of Barbie admirers. In line with Mattel’s effort to encourage and inspire young girls that “with Barbie, anything is possible”, the Barbie Room returns to the Puerto Madero hotel ten years after the debut of the first ever hotel Barbie Room at Hilton Buenos Aires in 2004. Read More »

  • How to approach saving 33 per cent

    In Part 1 of this article, “What are Savings?”, we discussed a few principles around saving, including considering why it is important, what it is and is not, as well as how to arrange your savings in different buckets. Read More »

  • Bdos pm defends financial centres

    Barbados Prime Minister Freundel Stuart has said his administration places high priority on ensuring the sustainability of the international business and financial services sector, (IBFSCs) and is seeking new ways to improve the value offered to those who view the island as the international financial centre of choice. Read More »

  • China calling

    Members of a Trinidad and Tobago delegation visited China last month on the invitation of the Chinese Embassy, and met with government and company officials in the cities of Beijing, Shanghai, and Shengzen. Journalists also met with Trinidad and Tobago’s ambassador to China Chandradath Singh. Read More »

  • Budget big on Social Welfare

    With a price tag of $64.6 billion, the revenue generating options to cover the cost of Budget 2014/2015 are slim. Just one week after the International Monetary Fund (IMF), in a statement released following its latest Article IV Consultation with Ministry of Finance officials in June, said the country needs to reduce fuel subsidies and rationalise social programmes, Budget 2015 seemed mostly about social programmes. Read More »

  • Energy sector again

    One of the more surprising statistics in Finance Minister Larry Howai’s numbers-heavy 2014/2015 Budget was that the financial services sector accounted for 15 per cent of this country’s Gross Domestic Product (GDP). Read More »

  • Budget 2015 and the manufacturing sector

    The manufacturing sector of any economy offers it a wide range of desired benefits. There are several reasons why a production platform concentrated in the manufacturing sector is considered a “superior” production platform to one concentrated in the primary sector. In particular, because primary products are normally associated with unstable prices, manufacturing exports help to stabilise and diversify the economy. Read More »

  • Look the budget day!

    “Look de budget dey! Look the budget day.” Trinidadian dialect is incredible. “There” can be pronounced “day” or “dey”. Day is also pronounced “day” or “dey”. Then “day day” or “dey dey” can be a location so when we say “He day dey day” we know “he” is located or reposing somewhere within pointing vicinity. Read More »

  • TTMA welcomes budget

    The Trinidad and Tobago Manufacturers’ Association (TTMA) welcomed with optimisim Finance Minister Larry Howai’s presentation of Budget 2014/2015 on Monday. Read More »

  • Putting country before party

    A budget is a statement of intent for a specific period as to how monies available are going to be allocated and spent, some of which might be saved as a matter of prudence for a clear purpose or for a “rainy day”. Read More »

  • A Fistful of Dollars

    The Minister of Finance has just met cynical expectations by announcing Trinidad & Tobago’s largest-ever budget for 2015, with estimated revenue of $60.351 Billion in support of estimated expenditure of $64.664 Billion. Read More »

  • Budget positive overall

    The Trinidad and Tobago Chamber of Industry and Commerce has said there were some positive announcements in the Budget. These included incentives for stimulating innovation at the firm level and new proposals to further expand the manufacturing sector. Read More »

  • Moving closer to mature self-governance

    On August 31, Trinidad and Tobago celebrated its status as an Independent Nation. Many citizens among us will remember that proud day in 1962, when we celebrated with our first Prime Minister, the inaugural day of our Country’s Independence from Great Britain, hoisting our National Flag for the first time, the music of our newly-penned National Anthem, and revealing our brand-new National Emblems. Read More »

  • Trinity’s quest to go global

    Trinity Exploration and Production plc is holding fast to its bold ambition: to be “the first Trinidad and Tobago-based, globally recognised oil and gas company”. Read More »

  • IFC closes financing for Guyana Goldfields

    The International Finance Corporation (IFC), a member of the World Bank Group, has completed a US$185 million financing package for the construction and development of Guyana Goldfield’s Aurora gold mine, located 170 kilometres west of Georgetown. Read More »

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