Daily Brief - Thursday 3rd March, 2022

NEWS

Trinidad and Tobago citizen in Ukraine at border heading for Germany

The Trinidad and Tobago national trying to flee Ukraine amid the Russian invasion is now at the Ukrainian border, Minister of Foreign Affairs Amery Browne has reported. In a conversation with Newsday, Browne said the national, along with his wife, is waiting in lines at the border, trying to get across. “The lines are very long but the couple is making good progress,” Browne said. “The ongoing prayers of many for safety on their behalf are sincerely appreciated.” Read more here

Fourth diver's body recovered

After carefully combing through thick crude, the decomposing body of the fourth diver Rishi Nagessar was finally recovered during the wee hours of Thursday morning. In a statement, Paria Fuel Trading announced that the body was recovered at 12:36 am. The statement read: "It is with a deep sense of sadness that we confirm that the body of Rishi Nagassar, the fourth diver, was recovered. Paria has advised the family and extended condolences on behalf of management and staff." Read more here

 

POLITICS

Young meets outgoing Venezuelan ambassador

Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister Stuart Young met on Wednesday with the outgoing Venezuelan ambassador to TT, Carlos Amador Perez Silva. In a press release, the ministry reported that Young received a farewell visit from Perez Silva, who will leave his post in the coming days. The meeting was held at the International Waterfront Complex. Read more here

PM awaits independent findings before saying more

Prime Minister Dr Keith Rowley yesterday said he will await the “findings of independent” investigation before saying anything more on the four divers who were sucked into a pipeline last Friday and subsequently died. “I note the sorrow, the trauma, the loss, the emotions, the malice and the political ambition,” Rowley said. “I am able to differentiate between them all.” On Monday, hours after Paria Fuel announced the recovery mission, Energy Minister Stuart Young said experts from Shell and BP will be part of a panel to investigate the incident, including what happened, what protocols were in place and what needs to be put in place. Read more here

 

BUSINESS

Trade in times of war, pandemic: impact on Trinidad and Tobago's economy

Trade in the times of war, and a pandemic, adds to the volatility of the Trinidad and Tobago economy still heavily dependant on oil and gas. It's a scenario former ministers of finance and energy Winston Dookeran and Kevin Ramnarine consider in their look at the implications of the ongoing Ukraine-Russia crisis. Dookeran takes a few steps back in his analysis of the oil and gas industry, addressing what he sees as slap in the face by TT's absence from last month's Guyana energy forum. Read more here

IDB gives money for digital innovation

Approximately TT$1.5 million is being spent to strengthen local small and medium enterprises (SMEs) in monetising digital assets and intellectual property. On Tuesday the Inter-American Development Bank (IDB), The University of the West Indies (UWI) and the Trinidad and Tobago Intellectual Property Office held a signing ceremony to launch the new project “Digital Innovations for Sustainable Environmental and Economic Recovery”. Read more here

 

REGIONAL

Oil price rises again as buyers shun Russian crude

The cost of oil surged on Wednesday, as traders snapped up non-Russian oil, increasing the chance of further price rises at UK forecourts. Brent crude – the global benchmark for oil prices – passed $113 a barrel, its highest level since June 2014. Traders are struggling to sell Russian oil, even at a discount, because of the new difficulties in shipping and payments amid its invasion of Ukraine. Gas prices also doubled, which could feed through to energy bills. Read more here

 

INTERNATIONAL

Mariupol under siege: 'We are being completely cut off'

Residents of the Ukrainian port city of Mariupol told the BBC how they are trying to survive a relentless barrage of Russian shelling that has smashed residential districts and cut off power and water supplies. "There has been no light, no heat, and no water now for two full days and we have hardly any food left," said Maxim Skorobohach, 27, an IT developer who was hiding in his grandparents' apartment on Thursday morning. "Food and medicine is not moving in Mariupol now. The local government tried to give (out) bread and water but it is gone," he said. "I filled the bath with water before the water stopped. We have about five litres left." Read more here

3rd March 2022

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