NEWS
Police swamped after schoolboy Jayden Lalchan's death by suicide — Flood of bullying reports
Head of the police southern division ACP Wayne Mystar has said the suicide of Jayden Alex Lalchan due to bullying has opened a floodgate for schoolchildren with similar experiences coming forward to report similar incidents to the police. In an interview on October 9 – the day after Lalchan’s funeral – Mystar said this unfortunate situation created an opportunity for people who were silently dealing with their own trauma to come forward. He said some schools keep incidents of this nature inside its walls, to avoid stigmatisation and, in some cases, a smear on its prestige. Read more here
ExxonMobil has no plans to renegotiate production sharing agreement
The President of ExxonMobil Guyana, Alistair Routledge, has all but ruled out a renegotiation of the Production Sharing Agreement (PSA) because it would adversely impact the company’s planned US$55 billion investment in Guyana. “We have no interest in invoking that Article. As I say, we’ve made US$55 billion worth of commitment to the country. To go back and to undermine the basis of that investment would seriously challenge any future investments,” he told a news conference. But he told reporters that if the basis for the investment changes, including at least an increase in the royalty from two to five per cent, it would undermine its basis if the original numbers change. Read more here
POLITICS
CAF invests US$35m in Trinidad and Tobago's Eximbank
Minister of Finance Colm Imbert and director representative for the Development Bank of Latin America and the Caribbean (CAF) Bernardo Requena have signed a US$35 million investment loan to strengthen the Export Import Bank of TT (Eximbank’s) services. A release from the ministry said the investment will affect more than 100 small and medium enterprises (SMEs) by way of getting a boost in financing to grow their operations. “The credit facility will secure US$35 million in additional funding to expand Eximbank’s financial services and support to SMEs and emerging sectors and position them to better compete in local, regional and international markets,” the release said. Read more here
Kamla: Hinds’ claims of UNC official hiring hitman a ‘political hoax’
The T&T Police Service is yet to confirm if it is investigating a “high UNC official” for attempting to pay a hitman $60,000 to commit murder. However, the Opposition Leader said the entire thing reeks of a hoax for political gain. During his contribution to the budget debate on Tuesday, National Security Minister Fitzgerald Hinds claimed, “A criminal in this country, swore to the police that a UNC high official, paid him $60,000 to commit a murder outside. That matter is under investigation, who want to go and find out could go.” Guardian Media attempted to ascertain from the TTPS if any such investigation occurred or is ongoing. Yesterday morning, a senior TTPS official said checks were being made to verify the minister’s claim. However, up to yesterday evening, the TTPS still could not provide an answer. Questions were also sent to its corporate communications unit, but there was no response. Efforts to contact Hinds for more information on his claims were futile as he did not respond to WhatsApp messages. Read more here
BUSINESS
Cashless society — Trinidad and Tobago finance centre maps ways to digital payments
Before 2016, India was a widely cash-based economy. Even two years after the demonetisation process in 2016 which catalysed India’s drive toward becoming a cashless society, the World Bank said 190 million adult Indians still did not have a bank account. Now, some eight years after the country started its cashless journey, it is considered one of the top-ten fastest-growing economies in the world. Its transition to cashless payments is driving the growth in purchasing power of the middle class and the informal economy, which used to be largely dependent on cash. Read more here
Jindal exits oil venture with Venezuela’s PDVSA
India’s Jindal Power Ltd is walking away from a venture that would have operated an oil-processing facility for Venezuela’s state-controlled crude producer, according to a Bloomberg report. The October 9, 2024, article stated Jindal is exiting the deal under which it would have overseen one of Petroleos de Venezuela’s key installations for producing and processing heavy-crude oil for export. The report quoted people who asked not to be named discussing non-public information. Read more here
REGIONAL
President to address National Assembly today
President Dr. Irfaan Ali will, today, address the National Assembly and is expected to unveil a sleuth of measures geared at addressing the rising cost of living, which is being induced primarily by global economic factors.
According to the official Order Paper for the 86th Sitting of the 12th Parliament of Guyana, the legislative body will resume following a recess since August, and after several presentation papers and reports, Speaker of the National Assembly, Manzoor Nadir, will temporarily suspend the sitting to receive President Ali. This will be the Head of State’s second time addressing the National Assembly since assuming office in 2020. Read more here
INTERNATIONAL
What do polls tell us about race for Pennsylvania?
With less than four weeks left to go until election day, the race for the White House is as close as ever. Nationally, Kamala Harris remains a couple of percentage points ahead of Donald Trump - a lead she has had since she entered the race at the end of July. But the US election is won and lost in the handful of states where both candidates stand a chance of winning - those known as the swing states. The biggest prize in the seven swing states in this election is Pennsylvania, because it has the highest number of electoral college votes on offer and therefore makes it easier for the winner to hit the required 270 votes to become president. Read more here
10th October 2024