Daily Brief - Friday 15th July, 2022

NEWS

Accounting exec: Dollar value making Trinidad and Tobago less competitive

A high-ranking executive at a leading accounting firm has suggested that the current value of the Trinidad and Tobago dollar might be having a negative impact on the country's ability to do trade and attract foreign investment outside of the energy sector. Speaking at the TT Chamber of Industry and Commerce business outlook meeting Navigating the Way Forward on Thursday, Ernst & Young Caribbean executive chairman Wade George said, with the US dollar at a 20-year high, TT was losing ground against its natural trade competitors. Read more here

T&T under Adverse Weather Alert – YELLOW LEVEL

Thunderstorm activity is expected today as Trinidad and Tobago has been placed under a YELLOW LEVEL Adverse Weather Alert by the Trinidad and Tobago Meteorological Service (TTMS). The alert was activated at 5:00 am today, Friday 15 July, and will remain in effect until 6:00 pm. Met Service forecasters advise that periods of rain and/or showers of varying intensities are expected from early morning today, starting with southern parts of Trinidad, due to a combination of the Inter-Tropical Convergence Zone (ITCZ) and approaching Tropical Waves. Read more here

 

POLITICS

Sinanan: Councillor, MP playing politics with San Francique road repairs

Works and Transport Minister Rohan Sinanan has accused Oropouche West MP Davendranath Tancoo and Avocat/ San Francique North councillor Doodnath Mayrhoo of derailing his ministry's plans of repairing roads in the area, noting that their assistance was necessary in moving forward with repairs. The roads were damaged by a landslip at Santa Cecelia Trace in San Francique. Read more here

 

BUSINESS

TTNGL shareholders want dividends paid in US dollars

Shareholders of publicly-listed TTNGL yesterday again raised the issue of the company paying its dividends in US dollars as a means of boosting the market value of the share. TTNGL is a subsidiary of the National Gas Company of Trinidad and Tobago Ltd (NGC). At the company’s annual meeting, which was held at the ballroom of the Hilton Trinidad and Conference Centre, St Ann’s, the issue was raised by TTNGL shareholder Charles De la Bastide, who pointed out that while the performance of the company in 2021 was very good, “at the end of the day, you have a share that is trading below its issue price, both the Initial Public Offering and the Additional Public Offering (APO) price. Read more here

 

REGIONAL

$3B hinterland development

The government is set to approach the National Assembly at the upcoming sitting next Thursday, for the approval of $3 billion in supplementary financing to make further investments in Amerindian and hinterland development, according to President Dr. Irfaan Ali. Financing, according to the President, will go towards investments in projects related to agriculture, health and education. In just under two years, the People’s Progressive Party/Civic (PPP/C) government has already expended close to $10 billion on developmental projects targeting various Amerindian communities. Read more here

 

INTERNATIONAL

Europe heatwave: Thousands escape wildfires in France, Spain and Greece

Residents and holidaymakers have fled towns and villages in France as fires are whipped up by high winds and tinder-dry conditions in several countries in Europe. More than 10,000 people have been forced to leave the south-western Gironde region in the past few days. Dozens of fires are burning in Portugal and Spain where temperatures have surged above 40C. At least 281 deaths in the two countries were linked to the heatwave. Several towns in western Spain have been evacuated. Read more here

 

15th July 2022

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