Sunday, October 22, 2017

Maduro coming back to T&T*

Oct. 20, 2017, 9:58 PM AST Comments

VENEZUELAN President Nicolas Maduro has confirmed he intends to visit Trinidad and Tobago in the coming weeks to sign a fresh round of broad-ranging agreements, including pacts on joint exploitation of cross-border Loran-Manatee gas fields and the possible establishment of a water taxi between the t

Deal on wheels*

Oct. 20, 2017, 9:55 PM AST Comments

GOVERNMENT is getting into the “mag rims” (aluminium alloy wheel) business with a $35 million injection into a public-private partnership. During the Parliament’s Standing Finance Committee session, Opposition MP David Lee yesterday noted an equity injection to Alutech Ltd from $6




CLICO records a sixth profitable year*

Oct. 18, 2017, 9:58 PM AST Comments

Colonial Life Insurance Company (CLICO) declared an after-tax profit of $447.3 million for the year ended December 31, 2016, which is a 50-per cent decline from the $894.3 million the company declared in 2015, according to the insurer’s financial statement on its website.


BHP output up 42%*

Oct. 18, 2017, 9:57 PM AST Comments

One of the country’s top four oil and gas producers, BHP Billiton, yesterday reported a 42-per cent year-to-date (ytd) increase in production in T&T, thanks to new and higher gas output from its Angostura field off the east coast of Trinidad.


Is sharing the burden good economics?*

Oct. 18, 2017, 1:34 AM AST Comments

The table above indicates that $751 billion was spent by the various administrations in T&T between the 2001 and the 2017 fiscal years. If the 2018 allocation is included, some $801 million would have been spent in that 17-year period.

Caribbean to put US$5b to climate resilience*

Oct. 18, 2017, 1:29 AM AST Comments

The Caribbean Community (Caricom), of which Trinidad and Tobago is a founding and financial member, plans to invest US$5 billion to make the region climate resilient, current Caricom Chairman and Grenada Prime Minister Dr Keith Mitchell said Friday in Washington. A major part of the plan is to reduc


Aboud spreads his wings to hotels*

Oct. 18, 2017, 1:26 AM AST Comments

IN 15 months, people entering Cascade will be greeted by a newly-renovated structure where the Carlton Savannah Hotel now stands, at 3 Coblentz Avenue, Cascade. But the hotel will bear a new name—The Brix.


Forex problems limiting imports*

Oct. 18, 2017, 1:22 AM AST Comments

If you’ve paid a recent visit to your local supermarket, you may have noticed that popular yogurt brand Dannon has been missing from supermarket shelves. That’s because local distributor, AS Bryden’s Trinidad Ltd, no longer finds it feasible to import the international product due


Is fiscal expansion the way out?*

Oct. 18, 2017, 1:19 AM AST Comments

There is an emerging conversation that to get out of our present recession via increased taxes and reduction in subsidies, i.e. via austerity measures, is the wrong approach. Further the negativity attached to government deficits, its borrowings, is also wrong, since deficits in this situation is a


Ruby Tuesday in T&T may rebrand, says Chin*

Oct. 17, 2017, 11:29 PM AST Comments

Ruby Tuesday local franchise holder Derek Chin says the announcement by the restaurant chain this week that is being sold to a private equity firm came as no surprise to him. He said “for some time now” he had put the chain on alert that he was considering rebranding, given its poor perf