Business Express

Monday, September 15, 2014

Top Story

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 »

  • Obsolete but persistent

    In the event the title caught your attention, we find it noteworthy to mention the history of Cost of Living Allowance (COLA), which was initially introduced as an allowance linked directly to the pricing index to support price increases that were not covered in the wage process. Read More »

  • CWU’s take on Budget 2014/2015

    A budget is an estimate of income and expenditure for a set period. Simply put it is an itemised summary of likely income and expenses for a given period. It is supposed to be an invaluable tool to help you prioritise your spending and your money regardless of how much or how little you have. Read More »

  • Tourism competiveness in 2014

    For the past 12 years there have been statements about developing tourism in an effort to diversify our economy. This was reiterated by President Anthony Carmona during his 52nd anniversary of Independence toast: “Our traditional oil and gas philosophy does not have conservation as a crucial component and we can ill afford to continue to spend billions of dollars which are not reflected in the improved capital of our country”. Read More »

  • $10b for Education

    Like many other national budgets, the education sector was allocated the biggest chunk of the economic pie. This time ten billion dollars. The allocation sounds reasonable but the trickledown effect is always the major challenge. Read More »

  • Small islands beacons for the rest of the world

    Facing potential extinction under rising sea levels, many small island nations are embracing renewable energy and trying to green their economies. Although the least responsible for carbon emissions, small countries like Barbados are on the front lines of climate impacts. Read More »

  • Moody’s downgrades Bahamas

    The United States-based international credit rating agency Moody’s Investors Service has downgraded the Bahamas’ issuer and senior unsecured ratings to Baa2 from Baa1 and changed the country’s economic outlook to stable from negative. Read More »

  • Budget toast

    Trinidad and Tobago’s Government leaders were out in full force as Finance Minister Larry Howai on Monday presented his 2014/2015 fiscal package in Parliament. Read More »

  • Deep passion for movies

    Meet Robert Carrady, born in New York, USA, raised in Puerto Rico, owner of Caribbean Cinemas. Loves swimming, golf, travelling, photography and of course, movies. Married, father of two daughters and one son – a cinema studies graduate. Read More »

  • While the going is good

    At the end of the day, meaning Budget Day (next Monday), Government will hardly tinker with any of the 63 social protection and labour programmes identified by the Inter-American Development Bank (IDB), which, in fiscal 2013-2014, cost the Treasury an estimated $7.0 billion, or 4.8 per cent of GDP. Read More »

  • JMMB revenues up

    The JMMB Group (JMMB), with operations in Jamaica, the Dominican Republic and Trinidad and Tobago, reported an operating revenue of J$2.40 billion for the quarter ending June 30, which is a 16.1 per cent increase over the comparative period (April – June 2013). Read More »

  • How Trinity is beating the oil decline

    To put it mildly, Trinity Exploration and Production plc, the San Fernando-based independent that is quoted on the Alternative Investment Market (AIM) exchange in London, took the local energy industry aback by announcing in July that it was buying Centrica plc’s 80 per cent interest in two gas blocks, 1a and 1b in the central Gulf of Paria. Read More »

  • Rough riders and Trojan horses

    It has been said that politicians are like contraceptives. They give you a sense of security while you’re being screwed. So when I saw Independent Senator Helen Drayton referring to the “Run-off” proposal in the Constitution (Amendment) Bill 2014 as a Trojan Horse my imagination not just perked up but galloped past smelling the coffee to actually imbibing it. Read More »

  • Saudi Arabia left in N/America’s dust

    Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable. Read More »

  • ‘For a few dollars more’

    Next Monday, September 8, is scheduled for the Finance Minister to deliver his 2015 Budget Statement to the country and of course speculation is great as to whether this will be an ‘election budget’ or if a more restrained approach might be taken. Read More »

  • ‘Reward those who question corporate culture’

    Corporate cultures that prevent employees from raising questions about perceived risks and threats to an organisation can only be changed if board members lead by example and become more sceptical and challenging, a report commissioned by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) has concluded. Read More »

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