NEWS
Economist urges caution in wage talks
Economists Dr Marlene Attzs commented on the wrangle over wages between trade unions and the CPO by calling for some caution in what she said was now "a very uncertain economic time," speaking to Newsday on Monday. With Russia's invasion of Ukraine having pushed the world oil price to as high as US$120 (Brent) and with the price on Monday at US$88 for WTI ( more closely aligned to TT's oil), and natural gas at US$8.18 MMBtu, unions have anticipated a windfall in national revenues and have been hoping to address long-outstanding wage talks. Read more here
St Jude’s Home staff seek protection from residents: Caregiver struck on head with toilet tank cover during escape bid
Staff at the St Jude’s Home for Girls are pleading for protection after a caregiver was assaulted during a failed attempt by two residents to escape the Belmont compound over the weekend. The incident at the home has been confirmed by Minister in the Office of the Prime Minister in charge of Gender Affairs Ayanna Webster-Roy and the Children’s Authority of T&T (CATT), which said a police investigation is now in progress. Guardian Media was told the victim was supervising 13 girls at the “Intake House” on the St Jude’s compound on Saturday when the incident occurred. Read more here
POLITICS
Kamla calls for boycott of meeting with PM
Opposition Leader Kamla Persad-Bissessar instructed United National Congress (UNC) councillors and chairmen on Monday night to boycott the meeting the Prime Minister has summoned them to attend at 9 am on Tuesday. Speaking at her party’s Monday night Virtual Report, Persad-Bissessar dismissed the invitation as nothing but a “hypocritical public-relations gimmick,” just months before the local government elections. Read more here
Gonzales: Opposition peddling lies about WASA restructuring
Public Utilities Minister Marvin Gonzales has sought to set the record straight over what he described as the lies peddled by the Opposition regarding the restructuring of WASA. On Sunday, opposition MP Dr Roodal Moonilal claimed government entered into a secret agreement with a foreign company to transform WASA and that managers were being trained to replace those that are expected to be axed. During a press conference on Monday, Gonzales categorically denied the claims. “They are unfounded, the are reckless, they are evil, they are malicious and they are intended to stop the government from engaging in a very important national exercise for all citizens.” Read more here
BUSINESS
Guardian Holdings Ltd continues to achieve results
For the first half of 2022 Guardian Holdings Ltd produced commendable results of which profit attributable to equity shareholders was $436 million, representing a 70 per cent increase over the corresponding period last year of $256 million. Earnings per share increased to $1.88 versus the comparative period of $1.10, according to the company’s second quarter results to June 30, 2022. Patrick Hylton, the company’s chairman, noted that performance was driven from its life, health and pensions segment whilst after tax profit from property and casualty and the brokerage operations were relatively flat. Read more here
‘SMEs key to T&T’s recovery’
Entrepreneurship is the gateway to economic recovery, wealth creation and long-term prosperity, according to Natasha Davis, vice-president, Marketing and Operations, Unit Trust Corporation (UTC). “We believe that, post-pandemic, small and medium businesses are essential to economic recovery and Trinidad and Tobago’s global competitiveness,” Davis stressed, while delivering an address at the recent 20th Annual Trans-Atlantic Trade and Investment Symposium, Trans-Atlantic Business Development Roundtable at the Lidj Yasu Omowale Emancipation Village, Queen’s Park Savannah. Read more here
REGIONAL
$44.8B supplementary budget approved
The government has been granted an additional $44.8 billion in capital and current expenditure with the passage of a supplementary budget geared at advancing the government’s development agenda. The budget, Financial Paper No 1 of 2022, includes an allocation of $21.050 billion for the Housing and Water Ministry, the largest provision in the supplementary funding. This money allocated covers various projects, including $250 million for the completion of water supply interventions in hinterland areas and $4.231 billion for additional resources to increase treated water coverage. Read more here
INTERNATIONAL
West Bank: Al-Aqsa Martyrs' Brigades commander Ibrahim al-Nabulsi killed in Nablus
The local head of the Palestinian militant group, the al-Aqsa Martyrs' Brigades, has been killed in an Israeli operation in the occupied West Bank. Ibrahim al-Nabulsi and two other people were killed during the raid on a house in the city of Nablus. At least 40 people were injured, the Palestinian Red Crescent said. The al-Aqsa Martyrs' Brigades is a network of militias linked to Fatah, the Palestinian movement which controls the West Bank. Israel has accused Nabulsi of leading a cell which carried out a spate of attacks against Israelis in the West Bank. Three of his associates were killed in a raid in February, but Nabulsi escaped, Israeli media say. He subsequently evaded efforts to apprehend him. Read more here
9th August 2022