TTMA IN THE NEWS
Hadco’s ice cream now a net forex earner
A $15-million-dollar investment in its yogurt line continues to reap healthy rewards for Creamery Novelfties Ltd. So much so, that the company is ollowing several lucrative leads for export. The company’s shareholders and directors, Paul Gabriel and John Hadad, spoke to the Business Guardian on Tuesday about this latest venture and plans going forward. Gabriel explained that the yogurt line was in the works for about three years, sharing that there were a lot of challenges getting the plant up and running. Read more here
NEWS
Nestle, OJT programme train youths for work
Nestle has announced a collaboration with the On the Job Training Programme (OJTP) to train students with vital skills that will empower them to work at Nestle and in the broader job market. A release dated February 17 said the collaboration comes in the form of a Memorandum of Agreement between Nestle and the Ministry of Labour, signed on January 24. “This strategic partnership, which began in 2017 under the name Nestrainee, continues to bridge the gap between education and employment by offering practical training across multiple business functions,” the release said. Read more here
Two fires detected at the Beetham Landfill site
The Trinidad and Tobago Solid Waste Management Company Limited (SWMCOL) has confirmed that two fires were detected at the Beetham Landfill Site at approximately 11:30pm on Wednesday (February 19, 2025). According to a statement issued by SWMCOL a short while ago, one fire is located on the eastern side while the other is on the western tip of the landfill. “The fire on the Western Tip is generating smoke, which may affect the air quality of Port of Spain and Environs,” SWMCOL advises. Read more here
POLITICS
Camille: Govt to build 500 homes for squatters
Even as she again condemned squatting as illegal, Housing Minister Camille Robinson-Regis yesterday announced that the Government will construct 500 homes for squatters occupying both State and private lands. Speaking at a key distribution ceremony at the San Fernando City Hall auditorium, Robinson-Regis, who last week said Government will not tolerate squatters as she addressed a situation in La Horquetta where illegal homes were demolished, said the beneficiaries will include residents under the Land Settlement Agency’s (LSA) Squatter Regularisation Programme and those living on private lands who meet the LSA’s Home Village Improvement Programme criteria. Cognisant of the plight of squatters in the low-income bracket, Robinson-Regis said the regularisation drive will continue. Read more here
BUSINESS
Ramps CEO optimistic about forex future due to Dragon gas
Despite the continued decline in the availability of foreign exchange, Ramps Logistics CEO Shaun Rampersad is very optimistic about the country’s economic future. He spoke at the private sector session on forex matters at the TT Chamber of Industry and Commerce, Westmoorings, on February 17. Rampersad said the materialisation of the Dragon gas project, which will supply natural gas from Venezuela to TT, will provide a significant boost in foreign exchange availability by 2027. “It is going to get better by about 2027,” he said. Read more here
January sees inflation rate rise to 0.7%
The rate of inflation in the country for January 2025 was 0.7%. The rate measures the percentage change in the All Items Index for the month of January 2025 over January 2024. The 0.7% figure represents an increase from the previous period (December 2024/December 2023) of 0.5%, the Central Statistical Office (CSO) said in a media release. The inflation rate for the comparative period (January 2024/January 2023) was 0.3%. Read more here
REGIONAL
Free movement, trade barriers , food security among key priorities at CARICOM Summit –President Ali
WITH global geopolitical shifts and changing trade dynamics creating new challenges, leaders from the Caribbean Community (CARICOM) will this week examine key issues, from trade barriers and free movement of nationals to food security at a regional summit. Speaking ahead of the official opening of the 48th regular meeting of the conference of heads of government of CARICOM which began on Wednesday evening, Guyana’s President Dr. Irfaan Ali, outlined some of the key priorities to be discussed at the summit being held in Barbados. “I believe that this heads of government meeting is coming at a very important time globally, when there’s been major shift in policy agenda and significant changes in the geopolitical realities in various regions across the world, in trade arrangements, all of which CARICOM has to be very mindful of.” He stressed that the changing global landscape would be a critical area for discussion among the heads of state, as CARICOM navigates new trade arrangements and challenges posed by global geopolitical shifts. Read more here
INTERNATIONAL
Starmer backs Zelensky after Trump calls him 'dictator'
Prime Minister Sir Keir Starmer has backed Volodymyr Zelensky as a "democratically elected leader" after Donald Trump described the Ukrainian president as a "dictator". Sir Keir called Zelensky on Wednesday evening and told him it was "perfectly reasonable" for Ukraine to "suspend elections during wartime as the UK did during World War Two", Downing Street said. The US president had earlier criticised Zelensky, saying he had done a "terrible job" and claiming "he refuses to have elections" in Ukraine. Zelensky's five-year term was due to end in May 2024, but elections have been suspended since martial law was declared after Russia's invasion. Read more here
20th February 2025