NEWS
Keshorn Walcott narrowly advances to javelin final in Paris
He had a nervous wait, but London 2012 Olympic champion Keshorn Walcott squeezed his way into the final of the men's javelin event at the 2024 Paris Olympics after finishing 11th in the qualifying round on August 6 at the Stade de France. Competing in the first of two qualifying groups, Walcott's best throw came on his second of three attempts when he recorded an 83.02-metre distance — falling just 98cm shy of the automatic 84m qualifying mark. Walcott's first throw was 74.89m, with this third attempt of round one being measured at 82.57m. The two-time Olympic medallist's 83.02m mark placed him sixth out of 16 competitors in his qualifying group. Read more here
2 killed, 1 hurt in Arima shooting
Two men are dead following a shooting at Samaroo Village, Arima, tonight. The first victim was identified as 21-year-old Emmerson Boucher, also known Kyle, of Edma Avenue, Samaroo Village. He was said to be the owner of a car wash business. Read more here
POLITICS
Analysts tell PM: Don’t blame Opposition for foreign investors leaving
Economists and political scientists are rubbishing Prime Minister Dr Keith Rowley’s suggestion that the Opposition is driving away foreign investors. Instead, they say the Government should blame crime and bureaucracy for damaging the ease of doing business. On Friday evening, Rowley read excerpts of a letter sent to him by Indian businessman Naveen Jindal, the chair of Jindal Steel and Power Ltd, at the swearing-in of the new executive of the PNM’s Diego Martin West constituency. In the letter, Jindal said his company would no longer bid for the Petrotrin refinery because comments made by the “government in waiting” represented a level of risk and potential instability that did not align with providing a predictable and secure investment environment. Read more here
BUSINESS
Plipdeco records $41.3m in profits
The Point Lisas Industrial Port Development Corporation Ltd (Plipdeco) recorded $41.3 million in profits after tax for the six months ended June 30. In its unaudited consolidated financial statements, published on the TT Stock Exchange website on August 5, Plipdeco reported a $7.5 million increase in profits compared to the same period in 2023, when the company earned $33.8 million in net profits. The financial results showed that it earned $185.3 million in revenue for 2024, $10.9 million more than it did the year before. Read more here
Republic records $1.5b profit in nine months
Republic Financial Holdings Ltd (RFHL) has recorded profit attributable to its equity holders of $1.5 billion for the nine-month period ended June 30, 2024, its chairman Vincent Pereira announced yesterday. This represented an increase in profits after tax of $213 million or 17% over the $1.3 billion reported in the corresponding period of the last financial year. “Excluding one-off losses reported in the prior period, core profits after tax and non-controlling interest increased by $127 million or 9%. Total assets stood at $118.4 billion on June 30, 2024, an increase of $4.0 billion or 3.5% over the total assets in June 2023,” a release from RFHL stated yesterday. Read more here
REGIONAL
Second main tower ‘pile cap’ completed for new Demerara River Bridge
As the government continues to make remarkable strides towards enhancing Guyana’s infrastructure, the second main tower “pile cap” of the US$260 million Demerara River Bridge has been successfully completed. This “breakthrough achievement” was announced by China Railway Construction Corporation in a post on ‘X,’ formerly known as Twitter, on Sunday. “Breakthrough Achievement: the second main tower ‘pile cap’ of the New Demerara River Bridge is completed! “As Guyana’s largest transportation infrastructure [sic] project, the new bridge will significantly reduce travel time and increase vessel traffic once completed,” the Construction Corporation said in its post. Read more here
INTERNATIONAL
Is the US really heading for recession?
Over the past few days, global stock markets have been plummeting.
Trading screens across the US, Asia and, to a certain extent, Europe are awash with blinking red numbers heading south. The sudden turn comes as fears grow that the US economy - the world's biggest - is slowing down. Experts say the main reason for this fear is that US jobs data for July, released on Friday, was much worse than expected. However, for some, talk of an economic slowdown - or even a (whisper it) recession - is a little premature. So, what did the official figures show us? As always with economics, there is good news and bad news. Read more here
6th August 2024