TTMA IN THE NEWS
T&T in dire need of a convention centre
Chief executive officer of the Trinidad and Tobago Manufacturers’ Association (TTMA) Ramesh Ramdeen says one of the things the preparation for this year’s Trade and Investment Convention (TIC) has underlined for him is that this country is in dire need of a convention centre as a dedicated venue capable of accommodating and hosting events of a similar magnitude and style. And according to Ramdeen, if the TTMA is given ten acres of land they can do all the heavy lifting to make the convention centre a reality. Read more here
TIC provides platform for SMEs
This year’s Trade and Investment Convention (TIC) is set to showcase a significant presence of small and medium enterprises (SMEs), chief executive officer of the Trinidad and Tobago Manufacturers’ Association (TTMA) Ramesh Ramdeen has said. Ramdeen estimated that approximately 50 per cent of the participants in this year’s convention will be SMEs, underlining their crucial role in driving economic growth and fostering entrepreneurship in the country. Ramdeen said the representation of the SMEs at the TIC reflects a burgeoning wave of innovation and ambition within the SME sector, as the businesses eagerly seize the opportunity to showcase their products and services to a wide audience. Read more here
NEWS
Over US$500m for network upgrades, only 2% back from Big Tech
After comparing how much Big Tech – Meta, Alphabet, Netflix, TikTok, Amazon and Microsoft – pays in other countries, CEO of the Telecommunications Services of TT (TSTT) Lisa Agard said Trinidad and Tobago earns only two per cent, since they already pay in South Korea, Australia and the US. Speaking at Canto’s 38th annual conference and trade exhibition at JW Marriott Turnberry, Miami on Tuesday, Agard said, “We are in an existential crisis, and the crisis is driven by Big Tech operators generating a considerable amount of traffic on our networks.”She said Big Tech is responsible for 67 per cent of the total internet traffic in the Caribbean, but offers no network investment. Read more here
POLITICS
Young: TGU important for energy, economy
Energy Minister Stuart Young has said Trinidad Generation Unlimited (TGU) remains a critical pillar of both the energy sector and the economy. He spoke at the opening of the company's new office in Chaguanas on Tuesday. TGU was formed on December 13, 2006 as a joint venture between the Union Estate Electricity Generation Company Ltd (UEEGCL), a wholly-owned state company, and AES Corporation of the US. Construction of TGU's plant at Union Estate in La Brea started in January 2009. The company began commercial operations on August 1, 2011. Read more here
BUSINESS
NGC Green Co Ltd seeks president
The National Gas Co of Trinidad and Tobago (NGC) Green Co Ltd is looking for a president. There has been no president to date, as it is a new entity of NGC. The post is advertised under the "career opportunities" tab on its website. The notice there says the president will manage the overall portfolio growth and profitability of the business with the relevant monitoring and reporting of clean/renewable energy initiatives across the group of companies. Read more here
Trade Ministry enhances TTBizLink
The Ministry of Trade and Industry (MTI) launched the Enhanced TTBizLink Application Software to usher in a new era of efficiency and transparency for businesses navigating the intricate web of trade and business processes. Under the Strengthening of the Single Electronic Window for Trade and Business Facilitation Programme, TTBizLink continues to revolutionise the landscape of trade and business facilitation for citizens, businesses, and investors, officials said at the launch at the Hilton Trinidad yesterday. In her feature address at Paula Gopee-Scoon, Minister of Trade and Industry stated that the enhancement of the platform marks another significant milestone for the ministry which is testimony to the government’s commitment to digital transformation and enhanced service delivery. She noted that the TTBizLink platform which was launched in October 2009, provides a centralised online hub for obtaining trade and business-related regulatory approvals in T&T. Read more here
REGIONAL
Frank, balanced approach, discussions necessary for energy transition
President, Dr. Irfaan Ali, on Tuesday, during his address to the European Union and Community of Latin American and Caribbean States (EU-CELAC) summit, called on stakeholders to have a frank and balanced approach to issues relating to energy transition and oil and gas. The Head of State, during his address which was streamed by the News Room, questioned leaders as to what the joint energy strategy is and what the role of natural gas in their energy transition among the EU-CELAC is. He went on to question if stakeholders are willing to have a frank and balanced approach to a discussion on oil and gas, and if the body is willing to invite all stakeholders to the table for these kinds of discussions. Read more here
INTERNATIONAL
Ukraine war: Crimea depot blasts force villagers to flee
More than 2,000 residents are being evacuated from four villages in Russian-occupied Crimea after a fire that triggered hours of explosions at a nearby ammunition depot. Russian-installed officials also shut a stretch of the motorway that crosses the southern half of the peninsula. They did not explain the cause of the fire at a military training ground near the city of Staryi Krim. But unconfirmed reports on social media spoke of three Ukrainian strikes. The Kremlin said Russian President Vladimir Putin had been briefed on the incident. The overnight explosions coincided with a heavy Russian missile and drone attack that officials said was largely targeted at Ukraine's southern city of Odesa. Read more here
19th July 2023