TTMA IN THE NEWS
Witco celebrates 120 years
The West Indian Tobacco Company Ltd (Witco) is celebrating 120 years of business and 50 years of association with the Desperadoes Steel Orchestra. In commemoration of this, Witco invited the Trade Ministry and the TT Manufacturers' Association (TTMA) to tour its upgraded factory on January 24. Speaking on the tour, Trade Minister Paula Gopee-Scoon congratulated Witco on its milestone anniversary and praised the company for its continued high permanence in trade and export as the company’s products continue to be distributed throughout the Caribbean and South America. Read more here
WITCO parted ways amicably with former managing director
The West Indian Tobacco Company Ltd (WITCO) parted ways amicably with former managing director Raoul Glynn following the completion of an internal investigation, according to its chairman, Ingrid Lashley. However, Lashley avoided specifying what prompted the investigation into Glynn and did not disclose its findings. Lashley made the statements yesterday in response to questions by the media during a tour of WITCO’s facility in Champs Fleurs. Read more here
NEWS
Coast Guard loses mystery boat as towline fails in rough sea
Mystery still surrounds an unidentified pirogue carrying around five decomposing human bodies which drifted into Trinidad and Tobago waters on Saturday afternoon but disappeared while being towed by the Coast Guard (TTCG) on Sunday. The TTCG believes the vessel sank while being towed. A ghost vessel is one found without any living crew onboard. This particular boat was first discovered floating off Trinidad's east coast shortly after 2 pm on January 25, by workers on the Cassia offshore platform. The Coast Guatd said a patrol vessel responded and found the boat with the help of nearby boats. Read more here
POLITICS
Finance Minister: VAT refunds in cash by this week
Finance Minister Colm Imbert assured VAT refunds, amounting to close to $1 billion in cash, to small and medium-sized enterprises will be completed by the end of the week. In a post on X (formerly Twitter) on January 26. Imbert said, “Up to January 24, we printed 6,767 cheques, totalling $558 million,” he said. “By the end of next week, VAT refunds in cash for January 2025 will be close to $1 billion. “Next week, we are initiating the process to issue VAT bonds totalling $3 billion with more VAT refunds in cash to come.” Read more here
BUSINESS
Heritage reports $398.56m half-year profit
State-owned oil and gas company Heritage Petroleum Co Ltd has reported a profit of $398.56 million for the half-year ending March 31, 2024, marking an increase of $19 million compared to the same six-month period in 2023. According to its unaudited interim condensed consolidated financial statements for the six months ended March 31, 2024, Heritage reported that its revenue surpassed the $4 billion mark, primarily driven by crude oil sales. Read more here
REGIONAL
Gov’t has exceeded expectations to deliver a people-oriented strategy-President Ali
In a comprehensive overview of the People’s Progressive Party/ Civic (PPP/C administration’s fiscal strategies, President, Dr Irfaan Ali emphasised that the last four national budgets were designed with one guiding principle in mind: improving the well-being of the people of Guyana. The Head of State during a Sunday afternoon broadcast stated that the government has exceeded its own expectations by fulfilling its commitment to a people-oriented strategy and investing in various sectors to uplift the population. Read more here
INTERNATIONAL
Holocaust survivors fear Europe is forgetting the lessons of Auschwitz
"Seeing a concentration camp with my own eyes and listening to a survivor who went through it all, that's really brought it home. It's important for young people like me. We'll soon be able to vote. The far right is gaining more and more support in Germany and we need to learn from the past." Xavier is a 17-year-old German student. I met him at a Holocaust education centre in Dachau, in southern Germany, just around the corner from what was once a Nazi concentration camp of the same name. He and his classmates were spending two days there, learning about their country's Nazi past and debating its relevance in today's world. Read more here
27th January 2025