NEWS
Tech Beach Retreat launches business accelerator for Caribbean start-ups
The online application process for TBR LAB is now open, bringing Caribbean start-ups one step closer to gaining unprecedented access to world class instructors, seasoned mentors, and potential investors. Hosted by Tech Beach Retreat in collaboration with IDB LAB, the DMZ (a business accelerator run by Ryerson University in Canada), and several other international partners, TBR LAB targets early-stage tech entrepreneurs whose growth may be stymied by restrictive market dynamics in the Caribbean. Read more here
T&TEC weighing down NGC
Despite making a loss last year, the Chairman of the National Gas Company Limited (NGC) believes the company is doing well. The state-owned company lost $316.2 million for the first six months of the 2020 financial year, however during a Public Accounts (Enterprises) Committee (PAEC) meeting yesterday, NGC Chairman, Conrad Enill, defended the company’s performance. He indicated that there were factors outside management’s control that contributed to its inability to make a profit last year. These factors, Enill said included the issue of subsidized gas and a $5.6 billion dollar debt by the Trinidad and Tobago Electricity Company (T&TEC). Read more here
POLITICS
PM still non-committal on when T&T borders will reopen
Prime Minister Dr Keith Rowley says he will not commit to a date for when this country’s borders will reopen. However, it seems this could well come after the majority of Trinidad and Tobago’s population and those of some of the major countries have vaccinated the majority of their populations against the COVID-19 virus. Rowley made the comment at a press conference at the Magdalena Grand Beach and Golf Resort yesterday, in response to questions on when the population could expect to see the reopening of the borders. Read more here
Young: 165 cases cleared thanks to new ballistics unit
National Security Minister Stuart Young said facilities introduced by his ministry to help in investigating crimes have been working, using the example of the police Ballistics Recovery Unit at Camp Cumuto, which was commissioned earlier this year. Speaking at the opening of the police crime scene simulation facility at the St James police barracks on Wednesday, Young said the centre has already contributed to clearing the backlog of cases. It was opened in late January with the aim of easing the strain on the Forensic Science Centre of ballistics testing for weapons. Read more here
BUSINESS
National Seed Bank reaps what it sows
Long past the Christmas season, people were able to pick sorrel for free last month from the National Seed Bank in Tucker Valley, Chaguaramas. Every year the seed bank gets help from the public to harvest sorrel. The bank gets the seeds and the sorrel pickers go home with the sorrel flowers. Business Day visited the seed bank last Thursday to speak to its deputy director Ishmael Mohammed. Read more here
Scotia Guyana sold to First Citizens but government concerned
First Citizen’s Bank has acquired Scotiabank’s banking operations in Guyana. Scotiabank announced the sale of its operations in a press release on Wednesday whilst also stating, “The agreement is subject to regulatory approval and customary closing conditions.” The release said, “This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. Scotiabank’s current operations in Guyana encompass four branches and approximately 180 employees. Following closing, all employees will continue to support the business.” Read more here
REGIONAL
‘Premature and inappropriate’
Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, has described the decision by Scotiabank Guyana to announce the sale of its operations here, as premature and inappropriate since the regulatory process has not yet been initiated, much less concluded. The bank, on Wednesday, announced that it had reached an agreement for the sale of its banking operations in Guyana to First Citizens Bank Limited. According to a release from the bank, the agreement was subject to regulatory approval and customary closing conditions. Read more here
Pastors under threat - Defiant funeral crowds pressure clergy to ignore gathering ban
Stubborn resistance by mourners to the coronavirus law has forced some churches to refuse to officiate funerals, causing clergymen to even summon the police to defuse clashes that threaten to get physical. Religious leaders are being pressured…Read more here
INTERNATIONAL
17,000 earthquakes hit Iceland in the past week. An eruption could be imminent
Even for a volcanic island accustomed to the occasional tremor, this has been an unusual week for Iceland. According to the Icelandic Meteorological Office, around 17,000 earthquakes have hit the southwestern region of Reykjanes over the past week. The largest quake, a magnitude 5.6 on the Richter scale, occurred on the morning of February 24. It was the loudest in a swarm that continues to rattle residents in the nearby capital city of Reykjavík and the municipalities around it, where two-thirds of the Icelandic population lives. Two larger earthquakes -- over magnitude 5.0 -- also hit on February 27 and March 1. Read more here
Meghan accuses palace of 'perpetuating falsehoods'
The Duchess of Sussex has said Buckingham Palace could not expect her and Prince Harry to be silent if it was "perpetuating falsehoods about us". In a clip of Oprah Winfrey's interview with the couple, Meghan had been asked how she felt about the palace hearing her "speak your truth today". Meghan also said: "If that comes with risk of losing things, I mean... there is a lot that has been lost already." Buckingham Palace is investigating claims the duchess bullied royal staff. The allegations of bullying levelled at Meghan were published after the interview with Winfrey was recorded. Read more here
4th March 2021