NEWS
RIC could save TTEC's clients $2.8b
Members of the public seem set to collectively pay $2.8 billion less in their electricity bills over the next five years than was proposed by TTEC, according to recommendations in the Regulated Industry Commission (RIC) document, Rates and Miscellaneous Charges for 2023 to 2028, recently uploaded to the RIC website. The document's executive summary stated TTEC's revenue approved by the RIC for recovery through tariffs. A table said that for 2023-2027 TTEC had sought $29.29 billion, but the RIC has only approved $27.63 billion. This was a difference of $2.8 billion. The document gave a breakdown of approved tariff revenues gradually rising for each successive year from 2023-2027. Read more here
Welfare assoc calls for probe of cops in human trafficking
T&T Police Service Social and Welfare Association president, ASP Gideon Dickson, says there should be an investigation into reports that a police officer was involved in the prostitution of a 16-year-old girl. He also wants officers in the Electronic Monitoring Unit to be held accountable for convicted human trafficker Anthony Smith slipping out of his ankle bracelet and vanishing. However, the Professional Standards Bureau (PSB) said it has not yet received any instructions to start such a probe. Contacted on the issue, PSB head, Senior Supt Suzette Martin, said, “Based on the information I got in the news, the Judiciary forwarded something to the Commissioner but because she has a unit that deals specifically with gender, they can also send it there, but we have not received any document.” Read more here
POLITICS
Minister: Expelled students may not re-enter public schools
Education Minister Dr Nyan Gadsby-Dolly says students expelled from the public school system cannot be subsequently re-admitted. Newsday approached Gadsby-Dolly for clarity after it was revealed that a Siparia East student was expelled after a video of her arguing with a teacher went viral. The 16-year-old girl was seen in a video verbally abusing a teacher in a classroom while other children laughed and jeered at the teacher. Before expulsion, the student had been suspended for her actions which included disruptive and unruly behaviour, cursing the teacher, threatening and using "aggressive, intimidating behaviour" towards the teacher and "gross disrespect towards authority." Read more here
Gonzales gets ‘sound advice’ from PM after TSTT data breach
Public Utilities Minister Marvin Gonzales says he has been in contact with Prime Minister Dr Keith Rowley, who has offered “sound advice” following a cyberattack on the Telecommunications Service of T&T (TSTT) on October 9. Addressing an exclusive story by Guardian Media which revealed that personal information of Dr Keith Rowley, including his identification card number, passport number and driver’s permit number, was uploaded to the dark web following the breach, Gonzales, told TV6 last night that he was in contact with Rowley to discuss the matter. He said they sought to “protect the public’s interests while getting to the bottom of the cyber breach”. Read more here
BUSINESS
GHL records $382m profit
Guardian Holdings Ltd (GHL) – the regional insurance and financial services conglomerate – has recorded a group profit of $382 million for the nine months ended September 30. This represents a 187 per cent or $249 million increase over the previous corresponding period. In its summary consolidated financial statements, GHL said its earnings per share increased to $1.65 versus $0.57 in the previous comparative period. Equity value per share was $21.13 versus its comparative of $17.77. "Our results benefited from year-over-year revenue growth as well as fair value gains generated in the current year versus losses in the prior year. This was partially offset by increasing reinsurance costs, higher operating expenses due to increased sales activities and international financial reporting standard (IFRS) 17 implementation costs as well as an increase in insurance finance expenses partially due to the impact of interest rate movements on liabilities and higher taxation expense," GHL chairman Robert Almeida said. Read more here
RFHL’s profit rises 14.6% to $1.75b
Republic Financial Holdings Ltd (RFHL) has recorded $1.75 billion in end-of-year profits. Vincent Pereira, chairman of the country’s largest banking group, said yesterday the group recorded profit attributable to its equity holders of $1.75 billion for the year ended September 30, 2023. This represents an increase of $223 million or 14.6 per cent over the 2022 reported profit of $1.53 billion. Read more here
REGIONAL
Guyana will continue to rely on international law
Attorney General and Minister of Legal Affairs, Anil Nandlall, on Monday maintained that Guyana will continue to rely on the rule of international law in the ongoing border controversy with Venezuela. He made this position known as he rose to make his contribution to a motion put forward during an extraordinary sitting of the National Assembly to reaffirm Guyana’s acceptance of the 1899 Arbitral Award as the “full, perfect and final” settlement of the border between Guyana and Venezuela. Nandlall said that while Guyana stands on the side of the law, and has engaged the International Court of Justice (ICJ), the country has been able to secure expressions of support and solidarity from some of the most powerful voices in the hemisphere. Read more here
INTERNATIONAL
Ukraine war: Grenade birthday gift kills army chief Zaluzhny's aide
A grenade given as a birthday present has blown up and killed a close aide of the head of Ukraine's armed forces Valery Zaluzhny. Maj Hennadiy Chastyakov, 39, had returned to his flat with presents from his colleagues and was opening them with his son when the grenade exploded. Maj Chastyakov was killed and his 13-year-old son left seriously wounded. Interior Minister Ihor Klymenko said the boy had started turning the ring on the grenade. "Then, the serviceman took the grenade from the child and pulled the ring, causing a tragic explosion." Prosecutors clarified later that he had accidentally set off the grenade while trying to take it away from his son. Read more here
7th November 2023