Daily Brief - Monday 19th march, 2018

NEWS

Moves to privatise Petrotrin

As Petrotrin restructures in an attempt to return to profitability, the state oil company needs to manage and in some cases mitigate the power and influence of two of its biggest stakeholders: government and the Oilfield Workers Trade Union. “We have a number of stakeholders very visible in Petrotrin’s direction and life. One is the government, another is the union. And these two very visible entities have not clearly been able to find a comfortable spot in Petrotrin’s future,” company chairman Wilfred Espinet told Newsday, during an interview on the weekend. Read more here

Quadruple murder suspect held in Valencia

The manhunt for the suspect in La Brea quadruple murders ended early yesterday morning at St Albans Road, Valencia, when police took a 38-year-old handyman/mason, of Lawrence Village, Guapo, Pt Fortin, into custody. The man was seen by people who knew him walking along the road and they alerted the police. He was held around 9.10 am by officers of the La Horquetta Crime Patrol Unit under Sgt. Vaughn Waldropt. Eyewitnesses said he was dressed in a black t-shirt, jeans and black sneakers and looked well rested. He had in his possession a green knapsack containing items of clothing. Read more here

Haleema’s family to reapply to Children’s life Fund

The family of Haleema Mohammed intends to reapply to the Children’s Life Fund for financial assistance. Read more here

 

POLITICS

COP to start online voting

The Congress of the People (COP) is set to introduce the country’s first online voting system as the party prepares to hold national executive elections (NATEX) on April 15. The positions to be contested are: chairman; deputy chairman; secretaries of finance, field operations, education and research, public relations, elections and voter registration and membership and mobilisation. COP office manager Steffan Edwards said the online system was being introduced as the party did not have the necessary manpower to facilitate the traditional type of voting and this system would ensure all its members have the opportunity to participate in the election. Read more here

Issues for President Weekes to tackle

Madame Justice Paula-Mae Weekes takes the oath of office this morning at the Queen’s Park Savannah, Port-of-Spain, in a ceremony which will be witnessed by hundreds at the venue and thousands of others who will view the event live on national television. She will become the country’s first female President and the sixth of the Republic, succeeding Anthony Carmona, who demits office leaving behind controversies surrounding Chief Justice Ivor Archie. Read more here

Hazel hits back: Don’t blame Patrick

The 12-year delay and eventual delivery of the Vieux Fort housing project in St James is stirring strife between the wife of late Prime Minister Patrick Manning and Prime Minister Dr Keith Rowley. Read more here

 

BUSINESS

Dispute payouts up to $300,000

Minister of Trade and Industry Paula Gopee-Scoon says some 700 reports regarding the purchase of products are made annually by unsatisfied consumers. However, the new National Consumer Policy of T&T will not only ensure consumers are sufficiently well-informed and empowered, but also minimise and discourage unfair business practices. Gopee-Scoon made the comment while delivering the feature address at the policy’s official launch at Nicholas Towers, Port-of-Spain, on Friday. Read more here

Two buying opportunities

This week, we at Bourse review the performance of Trinidad and Tobago NGL Ltd (NGL) for the year ended December 2017 and provide an update on the CLICO Investment Fund (CIF). NGL’s Share of Profit from Phoenix Park Gas Processors Ltd (PPGPL) continues to be driven by improved product prices and exports. CIF’s traded price has declined 4.3 per cent year-to-date. We discuss the main factors affecting each stock and provide an outlook. Trinidad and Tobago NGL Ltd (NGL). Read more here

 

REGIONAL

Clamp Down On ‘Clans’ - State Of Emergency In St Catherine North After Warring Gangsters Claim 48 Lives In 76 Days

A split in the deadly Clansman gang has been playing out violently across sections of the St Catherine North Police Division and is believed to be the main driver behind a 60 per cent increase in murders in the area since the start of this year. With 48 persons murdered in the division since January, up from 30 over the corresponding period last year, the police have reported that their intelligence indicates the possibility of further criminal activity in the area due to clashes between the former friends who are now bitter rivals. Read more here

 

INTERNATIONAL

Russia election: Muted Western reaction to Putin victory

World leaders are congratulating Vladimir Putin on his election for a new six-year term as Russian president. Chinese President Xi Jinping said his country's partnership with Russia was at its "best level in history". German Chancellor Angela Merkel is expected to congratulate Mr Putin soon but no other Western leaders have yet done so, amid tensions over the poisoning of an ex-spy in the UK. Mr Putin got more than 76% of the vote, official results show. He said he was considering changes to his government, including the post of prime minister. Former President Dmitry Medvedev has held the post since he changed places in 2012 with Mr Putin, who has ruled the country as either president or prime minister since 1999. Read more here

As Trump lashes out at Mueller, Congress at standstill on shielding special counsel

While some Republicans issued sharp warnings Sunday to President Donald Trump against firing special counsel Robert Mueller, recent efforts in Congress to protect the special counsel have stalled. Republican leaders have said they see no reason to intervene given what they considered good cooperation between the White House and the Mueller team. But that was before this weekend. Read more here

19th March 2018

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