News
Carnival gets its Museum
THE Trinidad and Tobago Carnival Museum (TTCM) will serve as a lucrative enterprise for this country in a few years’ time, but first, the right support is needed to take it to the level of prestige that is envisioned by its curators and managers. Read more here…
UWI economist: Cost of living crisis in Trinidad and Tobago
UNIVERSITY of the West Indies (UWI) economist Dr Vaalmiki Arjoon wonders whether a spotlight has been shone on what he described as a cost of living crisis in TT. He asked this question in relation to statements made by the Prime Minister, Finance Minister Colm Imbert and other speakers at a "Spotlight on the economy" event hosted by the ministry at the Hyatt Regency Hotel, Port of Spain on September 2. Read more here…
Business
TSTT opens new Parlour online shopfront
ON AUGUST 27, TSTT launched its new shopping website, Parlour (https://bit.ly/3RiSsXg).
In his speech at the event, Public Utilities Minister Marvin Gonzales described Parlour as "destined to fill what some might call a niche, but which I am sure is more of a chasm in the current economic environment."
Unfortunately, as a market positioning statement, that evaluation is simply wrong. Read more here…
CSO: Economy declines by four per cent
THE Central Statistical Office (CSO) has reported that the economy declined by four per cent in the first quarter of this year. This was indicated on Sunday in the CSO's release of the quarterly Gross Domestic Product for the first quarter 2022.
The CSO said, "This was due to contractions in both the energy and non-energy Industries of 1.3 per cent and 5.2 per cent respectively." Read more here…
Politics
Rowley, Young to meet with Proman, Shell, BP
PRIME MINISTER Dr Keith Rowley and Minister of Energy Stuart Young are due to meet with executives of Proman this week, on the first leg of a trip to Europe where they will meet with major global energy companies who have significant investments in Trinidad and Tobago (T& T).
On Friday, Proman said it invited the Prime Minister to its headquarters in Switzerland to introduce him to the wider Proman business and to discuss future investment opportunities in T& T. Read more here…
UNC: Don't expect people-centred budget
THE Opposition is warning the nation, especially those families in the middle and lower income brackets, not to expect any relief from the Government in the 2022/2023 budget.
Insisting that the Spotlight on the Economy forum last Friday, staged by the Ministry of Finance at the Hyatt Regency, was nothing short of PR and gimmickry by the Government, the UNC says claims of TT's improving economy will not be reflected in Finance Minister Colm Imbert's budget, to be read in Parliament on September 26. Read more here…
Regional
Guyana expected to earn US$1.1B in oil revenue this year
GUYANA is expected to earn some US$1.1 billion in oil revenue this year with an expectation of eight lifts of profit oil for the remainder of 2022.
This was revealed in the Ministry of Finance’s Mid-year report for 2022 which stated that in the first half of the year, the Government received US$307 million as revenue from their share of profit oil, along with US$37.1 million in royalties. Read more here…
US$200m cash hunt on for St Croix refinery
A consortium that is said to include three of Jamaica’s leading investment houses – JMMB, Barita, and Sygnus – as well as three directors of the Jamaican bunkering outfit that initially claimed it bought the company, says it is on the hunt for US. Read more here…
International
Liz Truss to succeed Boris Johnson as British prime minister, inheriting a country in crisis
London (CNN)Liz Truss will be the next prime minister of the United Kingdom after winning most votes in the Conservative Party leadership contest, succeeding Boris Johnson who resigned in July after a series of scandals.
Truss defeated rival Rishi Sunak with 81,326 votes to 60,399 among party members and will take over as leader on Tuesday, as Britons face mounting economic and social crisis. Read more here…
Gas prices soar 26% after Russia keeps key pipeline closed
The Dutch month ahead wholesale gas price, a benchmark for Europe, was up as much as 30% in early trading on Monday.
The Nord Stream 1 pipeline had been due to reopen on Saturday after being shut for three days. But Russia's state-owned energy firm Gazprom said it had found a leak. Read more here…
5th September 2022