Daily Brief - Thursday 28th July, 2022

NEWS

CSO: Food prices up by 1.2 per cent between May, June

The price of food and non-alcoholic beverages increased by 1.2 per cent between May and June, according to the retail price index released on Monday. The index said there were increases in the prices of whole chickens, frozen chickens, edible oil, chilled beef, frozen and seasoned beef, brown sugar, powdered milk, potatoes and oranges. “However the full impact of these price increases was offset by the general decreases in the prices of carite, onion, cabbage, carrots, milo, pumpkin, apples, fresh shrimp, fresh sweet potatoes and parboiled rice.” Read more here

UWI students happy with retention of current fees

Current and incoming students of The University of the West Indies’ (UWI) St Augustine Campus are elated and relieved that there will be no increase to tuition fees for the upcoming academic year 2022/2023. On Wednesday, after months of uncertainty, the campus announced that “Chancellor Robert Bermudez has approved a request from the campus to retain current tuition fees for the upcoming academic year.” The campus added that this would now ease the minds of prospective students who were unsure if they would be able to afford any increase in fees. UWI management had recommended the fee increase earlier this year, but it was not supported by the Government. Read more here

 

POLITICS

Augustine: S&P rating shows potential for growth

THA Chief Secretary Farley Augustine is optimistic about Standard and Poor's (S&P) BBB- investment grade rating for TT with a stable outlook. In July 2021, the country was given a BBB- investment grade but with a negative outlook. In an interview with Newsday on Wednesday, Augustine said the latest rating on the country brought “some mildly positive news.” He said: “It shows that there is a potential for growth. That is expected because where the world is going now in terms of energy prices and with the conflicts happening, Tobago stands to benefit, and so that rating did not really come as a surprise.” Read more here

 

BUSINESS

Trinidad and Tobago produces tonnes of e-waste monthly

E-waste is becoming the largest stream of waste, globally and in Trinidad and Tobago. Piranha International Ltd (PIL) records between eight and ten tonnes per month and usually collect from organisations or from those who drop off devices at any of PIL's locations. Recyclage E-waste Management Ltd in Arima reported three tonnes of e-waste monthly. Managing director Sheldon La Motte told Business Day on Tuesday that most of the e-waste comes from residential clients. "Approximately five to ten per cent of that is waste collected from residential clients, but this is still significant as more of the residents are made aware of our services as well as the importance of properly disposing waste of this nature." Read more here

Hoteliers call for more Tobago Carnival flights

While there is growing buzz for Tobago’s Carnival, the hotels in Tobago are not yet fully booked for the event. President of the Tobago Hotel and Tourism Association Chris James said Tobago’s hoteliers were anticipating the event, but they believed its potential was being undersold due to limited flights to the island. “We’re looking forward to the event. We are getting bookings. Our major problem is the airbridge. There aren’t enough flights on the air bridge still. So people aren’t confirming bookings who want to fly here rather than use the boats. So that’s a major problem. We only have the 12 flights. We used to have 20. So that’s a massive concern because the bookings are coming in. We still have plenty of space, but I think generally people looking forward to it,” he told the Business Guardian in a telephone interview.  Read more here

 

REGIONAL

US$2B available to fund local development

President, Dr Irfaan Ali has said that the US$2 billion agreement between Guyana and the US EXIM Bank is a clear indication of the North American nation’s commitment not only to Guyana, but also to the Caribbean Community (CARICOM). The Head of State made those remarks following the signing of the historic agreement between the Government of Guyana and the Export-Import (EXIM) Bank of the United States in Washington, on Wednesday. Read more here

 

INTERNATIONAL

Covid in China: Million in lockdown in Wuhan after four cases

Almost one million people in a suburb of Wuhan - China's central city where the coronavirus was first recorded - have been placed under lockdown. Jiangxia district residents have been ordered to stay inside their homes or compounds for three days after four asymptomatic Covid cases were detected. China follows a "zero Covid" strategy, including mass testing, strict isolation rules and local lockdowns. This has resulted in far fewer deaths than in many other countries. But the strategy is facing growing opposition as people and businesses continue to face the strain of restrictions. In Wuhan, a city of 12 million people, regular testing uncovered two asymptomatic cases two days ago. Read more here

 

28th July 2022

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