NEWS
Eight more deaths, 89 new covid19 cases
The Ministry of Health has recorded eight more deaths and 89 new covid19 cases. This is the lowest daily figure of cases the country has seen in the last six months. Active cases have dropped to 5,990. The death toll has risen to 1,188. In total, TT has recorded 41,955 cases since the first was detected on March 12, 2020. Of these, 34,777 patients have recovered. Read more here
Customers, sellers relieved as most stores reopen in downtown Port-of-Spain
Downtown Owners & Merchants Association president Gregory Aboud says 85 per cent of businesses in Port-of-Spain reopened yesterday after over three months of closure. “There has been a slow but steady and encouraging start to the day’s business. People are coming back onto the street and we are seeing the reopening of commercial activity, including deliveries coming back to Port-of-Spain and shoppers coming to visit various businesses,” he said. Aboud said the other 15 per cent of businesses remained closed as pending negotiations between landlords and tenants take place. However, he said that may be resolved soon and more stores may reopen this week. Read more here
POLITICS
Imbert: Over $5b spent on covid
Finance Minister Colm Imbert said Government has spent over $5 billion in its response to all aspects of the covid19 pandemic and is committed to continuing to provide whatever help it can to people adversely affected by the pandemic. At a virtual news conference on Monday, Imbert said, "For covid, we have crossed the $5 billion mark. We intend to provide as much relief as we can." He added that in the next budget there would be an allocation for residual covid relief going forward. Read more here
BUSINESS
MPC Caribbean Clean Energy reports US$40m loss
MPC Caribbean Clean Energy Ltd is reporting a loss of US$40.1 million for the second quarter ending June 30, 2021. This is an estimated US$4 million more than the loss of US$36.9 million reported for the same three-month period in 2020, according to the investment company's unaudited financial results. The company's income was also a loss of US$120.8 million, higher than the US$76.1 million income loss incurred last year. Total assets grew to US$29.6 million increasing from US$19.8 million for the six-month period ending June 30,2021. This follows the signing of an agreement to acquire the Monte Plata solar park in the Dominican Republic, chairman Jose Galindo reports in his statement. The deal is expected to be completed in the third quarter. Read more here
Businessman diversifies to meet food demand
The pandemic has seen many business operations fold under economic pressure. Former national cricketer Rajendra Mangalie, 55, has instead diversified his operations into the dry goods business. Yesterday, he opened Mangalie Foods Wholesale and Retail Limited at Francis Lalla Road, Charlieville. Mangalie started a ceiling supply company 16 years ago. He said, “The directors in the company decided five months ago to enter the dry goods market because we saw a growing need for food supplies globally.” He said prices were fluctuating upwards and consumers were finding difficulty to make purchases because of reduced spending power. Read more here
REGIONAL
$2.6B in relief for vulnerable groups
In addition to the existing cash grants, President Dr. Irfaan Ali has announced three additional measures which will provide cash incentives totalling $2.6 billion, specifically targeting vulnerable groups such as the elderly, persons with disabilities, and those who rely on public assistance. In a special address to the nation on Monday night, Dr. Ali said that a one-off grant of $25,000 will be given to all old-age pensioners. “This grant will benefit almost 65,000 persons, and place an additional $1.6 billion of disposable income in the hands of our elderly,” President Ali said. He added that the grant is equivalent to an additional month of pension. Read more here
INTERNATIONAL
Biden defends 'messy' US pullout from Afghanistan
President Joe Biden has said he stands "squarely" behind the US exit from Afghanistan as he faces withering criticism over the Taliban's lightning conquest of the war-torn country. "How many more American lives is it worth?" asked the Democratic president. He said that despite the "messy" pullout, "there was never a good time to withdraw US forces". On Sunday, the Taliban declared victory after Afghan President Ashraf Ghani fled and his government collapsed. The militants' return to rule brings an end to almost 20 years of a US-led coalition's presence in the country. Kabul was the last major city in Afghanistan to fall to a Taliban offensive that began months ago but accelerated in recent days as they gained control of territories, shocking many observers. Read more here
17th August 2021