Daily Brief - Monday 7th May, 2018


Small business to get a chance

T&T Manufacturers’ Association (TTMA) Christopher Alcazar says they are pleased the Export Import Bank of T&T Ltd (Eximbank) is now an authorised distributor of foreign exchange to local manufacturers. During the launch of the initiative on Friday, Finance Minister Colm Imbert said the Eximbank facility will provide a capital injection of US$100 million for the initial funding which will provide manufacturers with the foreign exchange needed for export expansion. Speaking about the initiative, Alcazar said the TTMA was also pleased that manufacturers will be allowed to buy US currency. Read more here



Petrotrin buying ‘questionable’ gas

Confidential audit reports, both local and foreign which Petrotrin paid hefty sums of money to obtain upon which it acted in the takeover of A&V Drilling oil wells, has nevetheless made damning condemnation of the State-owned company’s crude oil measuring systems. One such report revealed a 13-year-old lapsed agreement between Atlantic LNG and Petrotrin and the latter company’s failure to bill Atlantic LNG for US$5,000 a year for maintenance of a pipeline for the past six years. Read more here

Relatives fight for their lives

A Tobago family was thrown into mourning yesterday after an early morning accident claimed the life of a six-year-old boy. Police said Daniel Black died on his way to hospital after his family’s rental car collided with another car along the Valencia stretch, near Turure. The boy’s parents, father Dean Black, 55, mother Hema, 45, and four-year-old brother Levi were fighting for their lives in the Intensive Care Unit at the Eric Williams Medical Sciences Complex and Sangre Grande Hospital respectively up to last night. Read more here

Police sergeant in Grand Bazaar shootout dies

Four days after a shootout with his colleague at Ruby Tuesday, Grand Bazaar, Sgt Darryl Honore has died. He died at 10.30 p.m. on Sunday. The Trinidad and Tobago Police Service tweeted the news at 11.51 p.m. "#13118 Sgt Darryl Honore at 10.25 p.m. on 06.05.18 was pronounced dead at the Eric Williams Medical Sciences Complex. He died several days after sustaining gunshot injuries in a shooting incident at Grand Bazaar around 9.35 p.m. on 02.05.18. Investigations into the incident are ongoing," the TTPS tweeted. Read more here



Floods will come—Kamla

Urging people to brace for devastating floods, Opposition Leader Kamla Persad-Bissessar has slammed Government for failing to provide resources to local government bodies to clear water courses and build drains. Speaking at the 15th annual Penal/Debe Regional Corporation’s Civic Reception and Awards Ceremony at the Paria Suites Hotel in La Romaine on Saturday, Persad-Bissessar said she was worried about the floods that could come next month because of Government’s failure to clear the major water courses in the Oropouche Basin. Read more here



Bhoe Tewarie: Lower taxes for family businesses

Caroni Central MP Dr Bhoendradatt Tewarie is calling for international support to tackle guns, drugs, white collar crime and human trafficking and wants Government to embark on an effort to reduce delinquency, criminality and gangsterism. Speaking at a business forum on Friday, Starting the Economic Recovery, hosted by the Couva Point Lisas Chamber of Industry with support from business groups from Gasparillo, Chaguanas, Sangre Grande, Tunapuna, Penal/Debe, Arima and San Juan, Tewarie said crime is a deterrent to business development. Read more here

FIRST, PLD improve

This week, we at Bourse review the financial results of First Citizens Bank Ltd (FIRST) and Point Lisas Industrial Port Development Corporation Ltd (PLD), for the period ended March 31, 2018. Both companies managed to deliver improved results despite the prevailing economic headwinds. Let’s take a closer look at their respective performances. First Citizens Bank Ltd (FIRST). Read more here



Probing Portland | No Safe Haven - Cops On The Lookout For Migrant Criminals

The leaders of the Portland police have vowed to do everything in their power to keep residents safe, even as concerns mount about possible migrant criminals making their way into the usually peaceful parish. Four months into his role as head of the Portland Police Division, Superintendent Duane Wellington last week sought to allay the fears of residents as he promised a "new look to policing" in the parish. Read more here



Air France shares drop sharply as strikes continue

Shares in Air France fell 14% in early Monday trading, reacting to the latest events at the troubled airline. It was the first chance investors had had to respond to chief executive Jean-Marc Janaillac's resignation and comments by France's economy minister. Mr Janaillac's move came after staff at the loss-making airline rejected a new pay deal and continued their industrial action in pursuit of a 5.1% pay rise. And on Sunday, minister Bruno Le Maire warned Air France could "disappear". The French government owns 14.3% of the Air France-KLM parent group. Read more here

Trump divines his own truth without consequences

Donald Trump has learned he can get away with anything. While the President has always profited from creating his own reality, the impact of having a commander in chief who so frequently bends fact is only beginning to be understood. On Sunday, White House counselor Kellyanne Conway was asked by CNN's Jake Tapperwhether the President's job included lying to the American people and whether his distortions created a credibility crisis for his White House. "No, I don't," she told Tapper. Read more here

7th May 2018


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