NEWS
Dramatic rescue as van tumbles into sea
VIDEO footage has emerged showing the dramatic rescue of a man hurt when his vehicle tumbled off a coastline precipice in Balandra, Toco. The vehicle overturned several times before coming to a stop on the rocks at water’s edge. Waves are seen lashing the vehicle. Read more here
Roget: OWTU has foreign partner for refinery
An international investor has expressed interest in state-owned Petrotrin and is willing to partner with the Oilfields’ Workers Trade Union (OWTU) in a joint venture lease of the refinery, OWTU President General Ancel Roget confirmed yesterday. Roget made the comment after his contingent met with Petrotrin board representatives yesterday at the Hyatt Regency, Port-of-Spain, to present the union’s plan to take over the refinery and keep it in business. Read more here
Petrotrin loses board member
DAYS before Petrotrin's refining operation ceases and workers are retrenched, a member of the board who would have participated in the restructuring exercise, has become the first casualty of the plan. An internal circular from the company to all employees confirmed board member Randhir Rampersad has ceased to be a member of the board of directors. No reason was given for his departure, causing speculation among some workers. Read more here
October 2 tipped as a possible budget date
Presentation of the 2019 budget—where Petrotrin matters are expected to figure significantly—is expected soon after the Fourth Session of the 11th Parliament opens next week Friday. The last sitting of the House of Representatives for the current Third Session of the 11th Parliament is next Wednesday. Parliament confirmed that the Third Session ends and prorogues next week Thursday—September 27 at midnight. Read more here
POLITICS
T&T, Guyana sign energy MOU
Prime Minister Dr Keith Rowley has defended Government’s decision to shut down the Petrotrin refinery on a trip to Guyana, saying it was done as a result of “financial concerns” about the refinery. He did so as he dismissed the notion that T&T’s petroleum sector is in a “state” and therefore has no authority to advise Guyana, which is now getting into the Hydrocarbon sector following massive oil finds. Read more here
UNC starts budget consultations
THE Opposition United National Congress (UNC) has started nationwide pre-budget consultations. The first of these happened last Tuesday in Penal and was addressed by Oropouche East MP Dr Roodal Moonilal. In a statement yesterday, UNC public relations officer Anita Haynes said, ““The consultations are intense discussions where residents can bring their concerns and their ideas and can become part of the Party’s and the nation’s policy making.” Read more here
BUSINESS
The general of General Insurance
Guardian General Insurance Ltd (Guardian General) – a subsidiary of Guardian Holdings Ltd (GHL) – has a new president, Dean Romany and he's leading the P Five Mission to enhance efficiency and customer service. People, purpose, process, passion and performance – in that order – make up the P Five Mission. Read more here
Wanted: Greater transparency
The recent brouha-ha over the signing of an agreement for the importation of natural gas from the Dragon Fields (a large natural gas deposit which straddles the border between Venezuela and T&T) and the rejection of demands for details of the deal are symptomatic of the need for greater transparency in the arrangements entered into on behalf of citizens of T&T. While it is true that the Prime Minister did give significant details of the agreement, with the exception of the exact price that Venezuela would be selling the gas, it still did not seem to satisfy sections of the national population.
REGIONAL
Business Leader William McConnell Dies
Business leader William McConnell has died. McConnell, the former group managing director of Lascelles deMercado, is a member of the Private Sector Organisation of Jamaica (PSOJ) Hall of Fame. He also worked at Wray & Nephew for more than 40 years where he also served as managing director. Read more here
Former financial regulator in Antigua-Barbuda loses extradition appeal
ST JOHN’S, Antigua — An appeal by Leroy King, the former administrator of the Financial Services Regulatory Commission (FSRC) in Antigua and Barbuda, who is seeking to stop his extradition to the US to face 11 fraud related charges stemming from the US$7 billion Ponzi scheme operated by Allen Stanford, was rejected on Tuesday by the Eastern Caribbean Supreme Court. Read more here
INTERNATIONAL
Brexit: EU leaders warn time is running out for a deal
Time is running out for a Brexit deal, leaders of European countries have warned ahead of more talks in Salzburg. There is still no agreement on issues including how to avoid new checks on the Northern Irish border. At the EU summit on Wednesday evening Mrs May stressed her "serious" proposals for future co-operation would ensure a "shared closed relationship". Read more here
China strikes back by going after America's energy companies
The United States has an abundance of natural gas that pollution-riddled China badly needs to wean itself off coal. Eying China's voracious demand, Cheniere Energy, ExxonMobil (XOM) and other American energy companies are racing to build more than two dozen expensive facilities to export liquefied natural gas, which is super-cooled natural gas that can be transported by ship. Read more here
20th September 2018