NEWS
Three of 4 bandits shot dead in Mayaro named
Three of the four men shot dead in a home invasion in Mayaro on Monday have been identified. The police named them as Odel Prieto of Covigne Road, Diego Martin, Keshon Rojas of Edinburgh 500 in Chaguanas and Akel George of Second Caledonia, Morvant. The fourth bandit's name was not known up to Tuesday afternoon. The police issued a statement on Tuesday about the police-involved shooting, but did not name the deceased bandits or the victims. Read more here
School suspended at San Juan North Secondary…Falling concrete slab injures student
A 13-year-old San Juan North Secondary School student was on Tuesday night recovering from injuries he sustained after he was hit on the head by a piece of falling concrete. What started out as an innocent stroll around the school at lunchtime Tuesday, turned into a disaster for the student. The young boy, who was accompanied by a friend, was walking along the ground floor when a slab of concrete from the second floor gave way, colliding with both him and his friend. However, while the other student suffered minor injuries, he was not so fortunate. Read more here
POLITICS
PM: Based on world prices, local fuel prices could fall
The Prime Minister said people may actually pay less at the gas station as he outlined projected decreases in the cost of different types of fuel, if there are consequent decreases in the price of fuel on the global markets. During his contribution to the budget debate on Tuesday evening, Dr Rowley responded to criticisms from the Opposition over the capping of the fuel subsidy at $1 billion, noting it was a necessary difficult decision. He accused the Opposition of attacking government's policies without providing alternative solutions. Read more here
Minister: Food prices may begin to stabilise
There has been a decline in the level of some food imports into T&T due to increased local production. Plus certain positive signs are emerging internationally, which give some hope that food prices may begin to stabilise. Trade Minister Paula Gopee-Scoon stated this in Tuesday’s 2023 Budget debate in Parliament. Gopee-Scoon said, ”It’s a fact that both locally and internationally, food prices have significantly risen as a result of the pandemic and the ongoing conflict in Ukraine, high energy prices and extreme weather based on climate change – and it is difficult! We share the pain of those at the lower end of the spectrum, suffering as a result of high food prices and inflation.” Read more here
BUSINESS
Prices set to rise as Hauliers to increase rates by 20%
Inland container shipping rates are expected to increase by as much as 20 per cent before the end of the year. Curtis Seepersad, president of the Association of T&T Hauliers (ATTH) told Guardian Media that no date has yet been finalised for the increase. Seepersad said operational costs and the price of fuel has left ATTH 90-plus members with no alternative. He said “ Subsequent to our Special Members’ Meeting, a decision was taken to implement a rate increase for ground transportation container haulage. Read more here
What’s in NIB’s investment portfolio?
There is absolutely no doubt that the National Insurance Board of Trinidad and Tobago (NIBTT) is the most systemically important financial institution in this country. The NIBTT, of course, is the institution to which many citizens of this country turn when they have reached the end of their working lives to inquire about their National Insurance pension, which is a minimum of $3,000 a month. But the NIBTT is more than a provider of retirement pensions. In terms of its long-term benefits, the institution also pays retirement grants, survivors’ benefits and invalidity benefit. Payment to long-term beneficiaries totalled $5.25 billion or 94.99 per cent of total benefit expenditure in its 2021 financial year. Total benefit expenditure for the period ending June 30, 2021 was $5.53 billion. Read more here
REGIONAL
Effective policies result in higher retention of students
More primary school pupils are being retained by the secondary education system as a result of effective policies being implemented by the People’s Progressive Party/Civic (PPP/C) Government, Education Minister Priya Manickchand said in a recent post on her official Facebook page. This outcome, though positive, presents a challenge to the physical capacity of educational facilities across Guyana, especially because of the former A Partnership for National Unity + Alliance For Change’s (APNU+AFC)’s shortcomings in the construction and expansion of schools during its time in office. Read more here
INTERNATIONAL
Five reasons why China's economy is in trouble
China's economy is slowing down as it adapts to a punishing zero-Covid strategy and weakening global demand. Official growth figures for the July to September quarter are expected soon - if the world's second-largest economy contracts, that increases chances of a global recession. Beijing's goal - an annual growth rate of 5.5% - is now out of reach although officials have downplayed the need to meet the target. China narrowly avoided contraction in the April to June quarter. This year, some economists do not expect any growth. The country might not be battling steep inflation like the US and the UK, but it has other problems - the factory of the world has suddenly found fewer customers for its products both domestically and internationally. Trade tensions between China and major economies such as the US are also hampering growth. Read more here
5th October 2022