Daily Brief - Thursday 1st October, 2020

NEWS

Supermarkets: No big food price rises expected

While not anticipating any significant increases in food prices in the near future, Supermarket Association president Rajiv Diptee said on Wednesday, "The genesis of any price increase does not lie with the retailers at the end of a complex supply chain." Referring to previous comments he made about possible increases in food prices after the presentation of the 2020/2021 budget on October 5, Diptee said "There are challenges being navigated by importers that make for a variable set of considerations." Read more here

Roadmap Committee: Expect three tough years ahead

The next three years are expected to be an extremely difficult period and will be characterised by “market volatility, a low energy and commodity price regime, and consequently reduced country revenues and foreign exchange,” Phase Two of the Roadmap for T&T report has stated. It noted that the impact of the COVID-19 pandemic has been disastrous with billions of dollars lost and a reduction on up to 50 percent in revenue in some sectors of the economy. And, as such, the country needs to find ways to earn revenue and cut expenditure to deal with this situation. Read more here

 

POLITICS

Rowley: Respect women

The Prime Minister on Wednesday urged the men of TT to respect all women, in a post on the Facebook page of the People’s National Movement (PNM). “As a man I am calling on all the men of our republic to treat all women like the sisters, daughters and mothers who are deserving of our love and respect,” Dr Rowley wrote. Read more here

Minister wants ‘expeditious’ review from CXC

Education Minister Dr Nyan Gadsby-Dolly has expressed concern over the failure by the Caribbean Examination Council (CXC) to provide a timeframe for the commencement and completion of an assessment of into the results of this year’s CSEC and CAPE results. On Monday, the chairman of CXC, Sir Hilary Beckles assured that an independent review team will analyse the “specific challenges” regional educators and students have raised following the release of this year’s results. Read more here

 

BUSINESS

Covid19 cancels Wildlife donations

Since initial covid19 restrictions were announced, in March, the El Socorro Centre for Wildlife Conservation has been closed. The centre’s closure, thus far, has resulted in losses amounting to over $185,000 in potential revenue, Ricardo Meade, the centre's founder and director, told Business Day. “Covid19 and its restrictions have been hell on the wildlife centre. We’ve suffered a tremendous blow with the lockdown,” he said. Read more here

The truth matters

Over the last two weeks a number of things occurred in the downstream petrochemical sector and by extension the economy of T&T. La Brea based Caribbean Gas Chemicals Ltd CGCL started loading its first cargo of methanol for export from its newly minted facility. This must be a relief for its shareholders. CGCL is a joint venture led by a consortium comprising Mitsubishi Gas Chemical Company, Inc, Mitsubishi Corporation, Mitsubishi Heavy Industries, Engineering Ltd., The National Gas Company of T&T Ltd and Massy Holdings Ltd. Read more here

 

REGIONAL

US$9B Payara project gets ‘green light’

After weeks of intense consultations and negotiations, the Government of Guyana has granted approval for global oil giants, ExxonMobil to commence its US$9 billion Payara Development Project, offshore Guyana. The Government of Guyana officially issued the licence for the project, which was signed by both parties, on Wednesday. The project located in the Stabroek Block, is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel. The US $9 billion Payara development will target an estimated resource base of about 600 million oil-equivalent barrels and the largest single investment in the history of Guyana. Read more here

Junior Flemmings Accused Of Homophobic Slur During Phoenix Rising Game

San Diego Loyals, of the United Soccer League (USL) in the United States, are alleging that Jamaican international Junior Flemmings made homophobic remarks towards one of their players. The incident allegedly happened during a USL game between the Loyals and Flemmings’ club, Phoenix Rising, on Wednesday night. The Loyals walked off the field in protest at around halftime after alleging that Flemmings used a Jamaican homophobic slur towards Collin Martin, an openly gay Loyals midfielder. The Loyals forfeited the game in spite of their 3-1 lead. Read more here

 

INTERNATIONAL

Trump's latest punt on White supremacy shows a debate rebound will be tough

President Donald Trump's failure yet again to unequivocally condemn White supremacy Wednesday -- to clear up a chilling moment from his debate clash with Democratic nominee Joe Biden -- shows how he may find it impossible to reboot for their next crucial contest. Asked about not repudiating the Proud Boys, a far-right group, during the debate, Trump said: "I don't know who the Proud Boys are. I mean, you'll have to give me a definition, because I really don't know who they are." "I can only say they have to stand down, let law enforcement do their work," the President told reporters, before pivoting again by saying "the problem is on the left." Read more here

Alexei Navalny blames Vladimir Putin for poisoning him

Leading Russian opposition activist Alexei Navalny says he believes President Vladimir Putin was responsible for his poisoning. "I assert that Putin is behind this act, I don't see any other explanation," he told German news magazine Der Spiegel in an interview. Germany, where Mr Navalny is recovering, says he was poisoned by a Novichok nerve agent. Its findings were confirmed by labs in France and Sweden. The Kremlin denies any involvement. Responding to the interview on Thursday, Mr Putin's spokesman said there was no evidence that Mr Navalny had been poisoned with a nerve agent, and said CIA agents were working with the opposition leader. Mr Navalny collapsed on a flight in Russia's Siberia region on 20 August. He was transferred to the Charity hospital in the German capital Berlin two days later. Read more here

1st October 2020

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