Daily Brief - Monday 4th June, 2018

NEWS

Republic Bank honours long-serving staff

Anthony Wong, former general manger of Republic Bank Ltd’s (RBL) Electronic Channels and Payments Division, was one of 11 people honoured for dedicating 40 years of their professional lives to the bank. Held at Hyatt Regency, Port of Spain on Saturday, the staff recognition and long service awards ceremony recognised the men and women who have spent 20 years or more at RBL. Read more here

Fire hits PoS drag mall

The People’s Mall in Port-of-Spain has once again been hit by fire. In the latest incident, firefighters responded to a blaze just before 1 am yesterday which destroyed thousands of dollars worth of clothing and merchandise. A kitchen was also affected. Read more here

Pepper vendor shot from behind Bullet in the head

Republic Financial Holdings Ltd (RFHL) shareholders need not worry about the group’s multi-million US-dollar investment in Ghana, where non-performing loans (NPLs) are rising, RFHL managing director and president Nigel Baptiste has said. Read more here

 

POLITICS

Garcia: I never discriminated against Hindu students at Fatima

Education Minister Anthony Garcia has said, in no uncertain terms, that he did not use his office while principal at Fatima College to discriminate against Hindu students. There have been reports in the media that Garcia forced Hindu students to remove their rakhis, a coloured thread or talisman used for protection. It is considered a religious ritual. Read more here

Count the Government out

A combative Agriculture Minister Clarence Rambharat has dismissed the possibility of further state involvement in the beleaguered buffalypso industry and dared the private sector to take up the challenge. He said a “differently-shaped ministry” can make the current state farms available to the private sector, but the Government should not be involved in the buffalypso business. Rambharat took half an hour of a scheduled 10-minute speaking engagement at a University of the West Indies (UWI) conference on the future of the specially-bred animal in T&T, to explain that further financial support for the industry “will not happen under my watch.” Read more here

Rambharat sounds warning on US chicken: 15,000 jobs at risk

The livelihoods of rural communities and 15,000 direct jobs across the country are at risk if US chicken importers undercut the local market with “inferior” chicken they buy at US$0.09 a pound, Agriculture Minister Clarence Rambharat said on Friday evening at The University of the West Indies (UWI), St Augustine, campus. Read more here

 

BUSINESS

Data centre upgrade for bmobile

Bmobile already had one of the best data centres in the region but recently went a step further to become one of the first to receive the latest international standards in certification—the TIA-942-B certification, an upgrade to the TIA-942-A which the company previous attained. This means bmobile’s data centre offerings are now even more globally competitive and remains one of the most compliant in the industry. The latest certification means the data centre’s mechanical, electrical, telecommunications, security and fire detection and protection capabilities have met the most rigorous international standards available for the industry. Read more here

SFC improves, GHL lower

This week, we at Bourse review the performance of two regional insurance giants — Sagicor Financial Corporation Limited (SFC) and Guardian Holdings Limited (GHL) — for the first quarter ended March 2018. New accounting standards and a different investment environment would have impacted financial performance. We discuss the performance of both companies and provide an outlook. Read more here

 

REGIONAL

Southside Job Bank - JP To Establish List With Skills Of Unattached Youths

The explosion of work made available through construction of the new GraceKennedy and Ministry of Foreign Affairs buildings on the waterfront in downtown Kingston has put the brakes on crime in 'Southside', central Kingston. But strong fears abound that once construction is completed, the young men who are heavily invested in its construction as labourers could return to a life of crime and violence. Read more here

 

INTERNATIONAL

Jordan PM quits after austerity protests

Jordan's Prime Minister Hani Mulki has resigned after several days of protests against tax rises and austerity measures. The protesters say a new tax bill backed by the International Monetary Fund (IMF) will hurt the poor and middle class. The recent demonstrations are the biggest in years and have seen police fire tear gas and block roads. Protesters have chanted anti-government slogans and clashed with police. Mr Mulki had refused to scrap the IMF-backed tax bill, saying it was up to parliament to decide whether to pass it or not. Read more here

Guatemala's Fuego volcano erupts, killing at least 25

Guatemala's Fuego volcano erupted, killing at least 25 people and leaving residents covered in ash as they fled from billowing plumes. The volcanic eruption Sunday spewed a river of red hot lava and belched thick clouds of smoke nearly six miles into the air, according to the CONRED, the government agency for disaster reduction. Ashen remnants covered neighbourhoods. In addition to the fatalities, 20 others were injured, CONRED said. Survivors described the horror and destruction when the volcano erupted. Read more here

4th June 2018

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