NEWS
bpTT to divest mature gas fields to Perenco
BpTT has officially announced that it will divest four mature gas fields – the Immortelle, Flamboyant, Amherstia and Cashmia offshore gas fields, undeveloped resources from its Parang field and associated production facilities. It announced the divesting in a press release. In April, news reports suggested that the move to divest the fields was coming but officials neither confirmed nor denied whether the deal was being struck until Monday. In the release, bpTT said it currently operates and is the sole owner of each of the assets. Read more here
Mt Hope Secondary PTA protests deplorable conditions
Taking note of the attention paid by the State to St George’s College, which is a few kilometres away, parents/guardians of Mt Hope Secondary School students were yesterday left wondering if they are being left to suffer as a second class institution due to their former “Junior Sec” title. A day that should have symbolised new beginnings was marred with old problems and was enough to catalyse an early-morning protest by the school’s Parent Teachers’ Association (PTA). “Do we have to be a prestige school to get repairs? Because I noticed St George’s on the news this morning, their roof partially collapsed, but our roof collapsed and, yet, we are still open, our teachers are still teaching, and our kids are in danger,” cried PTA coordinator Marilyn Marquis. Read more here
POLITICS
UNC aims to win 25 seats in next election
The Opposition UNC says it plans to return to government by winning 25 seats in the next general election. The party's optimism is based largely on its performance in last August's local government elections in districts that fall under ten of these constituencies and its ability to win the election on its own. These sentiments were reflected in a statement issued by UNC PRO Dr Kirk Meighoo about the general election preparation meeting held by the party at its Chaguanas meeting on September 1. Read more here
BUSINESS
Nedco, UTC partner to support entrepreneurs
National Entrepreneurship Development Company Ltd (Nedco) and Unit Trust Corporation (UTC) have signed a memorandum of understanding (MoU) to enhance investment opportunities and financial security for micro and small enterprises (MSEs) by introducing the Nedco Vision 50/50 Loan. This loan provides entrepreneurs with a total financial base of $50,000 which is split equally, allowing them to invest $25,000 and the other $25,000 used as collateral. In an ad in another daily newspaper on September 1, Nedco's CEO Calvin Maurice said the loan is aimed at supporting and elevating MSEs in the entrepreneurial landscape. Read more here
POSINCO, TCDC rent impasse continues
THE feud over rent and control of MovieTowne continues, with the Port of Spain Infrastructure Company (POSINCO) and Trinbago Commercial Development Company (TCDC) both asserting their "rights" over the property. POSINCO issued a release stating that, after two unsuccessful injunctions filed by TCDC’s attorneys, POSINCO retains its right of possession of the facility in accordance with the Deed of Lease. “Since 2021, POSINCO has made every effort to bring this matter to an amicable resolution, in the hope that the matter would not reach the Courts. However, no payments were made by the TCDC toward its rent. In the interest of its stakeholders and business, POSINCO was left with no choice but to take action,” the release stated. Read more here
REGIONAL
‘Democracy is not just a political system’
Democracy in many countries is often heavily politicised; however, the true definition of democracy reflects all aspects of society and economic development, President, Dr Irfaan Ali has said. “Democracy is about society. It is about the country, it is about every walk of life, it’s about civil society, It is about the private sector, [and] it is about government. It is about every aspect of societal life [that] must uphold the value system of democracy,” President Ali said during his address at the 46th Conference of the Caribbean, the Americas and the Atlantic Region of the Commonwealth Parliamentary Association (CPA), held in Georgetown. The President urged stakeholders to examine the value systems of democracy, noting that it must not only be viewed as “just a political” system, but rather as a system that transcends beyond the politicking. “We shoot ourselves in the leg when we somehow believe that this democracy that we speak about is only at the parliamentary level and only at the government level. Read more here
INTERNATIONAL
UK defends partial Israel arm sales ban
Israeli Prime Minister Benjamin Netanyahu has said the UK's decision to suspend some arms sales to the country is "shameful". "Instead of standing with Israel, a fellow democracy defending itself against barbarism, Britain’s misguided decision will only embolden Hamas," he said on social media. His comments come after UK Defence Secretary John Healey insisted the UK remained a "staunch ally", telling the BBC Israel's security would not be weakened by the suspension of around 30 out of 350 export licences. Read more here
3rd September 2024