TTMA IN THE NEWS
Award-winning manufacturer looks to expand
Operating a manufacturing business, especially in a pandemic, is not an easy task, but Churchill Azad Akaloo, managing director Sheik Lisha Ltd, is ensuring his business is adapting to the changes. Just last month, the company, located on Southern Main Road, Cunupia, was awarded the Trinidad and Tobago Manufacturers’ Association (TTMA) Medium Manufacturer of the Year 2021. Read more here
NEWS
Graduant: Entrepreneurship programmes need more men
Fifty-five people began the Ministry of Sports and Community Development's Entrepreneurship Development Management Programme, also known as, With These Hands. Thirty-eight participants graduated, 37 women and one man. Deputy director of community development Omadaye Beesan said the programme focused on craft and what people make with their hands. It involved three months training with NEDCO in small business development and four weeks with the Export Centre Company Ltd, in skill refinement. Read more here
POLITICS
Augustine: Ex-gratia payment will soon bring smiles
Chief Secretary Farley Augustine said the promised ex-gratia payment will put smiles on the faces of Tobago House of Assembly (THA) staff. Concerns were raised on social media on Monday after the entire Executive Council resigned from the Progressive Democratic Patriots (PDP). The ex-gratia payment was one of the campaign promises by the PDP in the December 6, 2021 THA election. PDP leader Watson Duke had initially promised to deliver it before Christmas 2021 if the party was successful in the election. "We will find the money," Duke had told supporters. "That is why you put us there – to find the money. Doh study that. When we begin to pull the books under Chief Secretary Farley Augustine, and we find the money, we will take money and put dey. That is what a government does. Read more here
BUSINESS
Government's role increases in new Atlantic LNG, says Rowley
Atlantic LNG’s (ALNG) new heads of agreement (HoA) between the Government and energy powerhouses Shell and bpTT will see a greater involvement in the supply and marketing of LNG by the State, said the Prime Minister during the signing with ALNG shareholders at Hilton Trinidad, Port of Spain on Tuesday. “Until now, all marketing of the energy minister’s share of natural gas in production sharing contracts was undertaken by the operator, on behalf of the minister,” said Dr Rowley. He said in the recently executed Manatee field production sharing contract with Shell, the minister will be taking a more active role in the marketing of the gas. Rowley added that in the new ALNG structure the National Gas Company (NGC) will have a new and increased shareholding. Read more here
T&TEC: Higher rates needed for debt load
Last week, Express Business exclusively published the rate increases proposed contained in the business plan of the The Trinidad and Tobago Electricity Commission (T&TEC) to its regulator, the Regulated Industries Commission (RIC). T&TEC is proposing stiff rate increases: for residential customers a rate increase of 40 to 65.75 per cent increase over a five-year period while a 128.5 per cent rate increase for commercial and industrial customers, over the same period. The utility explained that the rate increases are necessary to clear its debt and to upgrade its infrastructure to improve its service to its customers. Read more here
REGIONAL
‘Historic breakthrough’
Norwegian Minister of Climate and Environment, Espen Barth-Eide, on Monday, expressed Norway’s admiration for Guyana’s “historic breakthrough” in being the first country in the world to get issued carbon credits under the high-integrity carbon standard Architecture for REDD+ Transactions (ART). “I congratulate Guyana on being the first country to issue forest carbon credits certified by ART, paving the way for many others to come. This marks a breakthrough for the emergence of a high-quality global carbon market to protect tropical forests,” Barth-Eide said. Read more here
INTERNATIONAL
China abandons key parts of zero-Covid strategy after protests
China is lifting its most severe Covid policies - including forcing people into quarantine camps - just a week after landmark protests against the strict controls. People with Covid can now isolate at home rather than in state facilities if they have mild or no symptoms. They also no longer need to show tests for most venues, and can travel more freely inside the country. Citizens have expressed relief but also concern about the sudden changes. "Finally! I will no longer worry about getting infected or being taken away as a close contact," one person wrote on Chinese social media. Another said: "Can anyone explain to me what's happening? Why is the change all of a sudden and so major?" Read more here
7th December 2022