Daily Brief - Thursday 5th May, 2022

NEWS

Central Bank concerned about unemployment, increasing prices

Trinidad and Tobago will, this year, participate in the world's slight rebound from the covid19 pandemic – as now dampened by fallout from Russia's invasion of the Ukraine – said the Central Bank's Annual Economic Survey 2021. "TT’s short-term outlook is expected to improve in 2022," the report said. With the reopening of the economy, growth is expected in TT's energy and non-energy sectors. However, the report had concerns about jobs and high prices, especially in the building sector and for foodstuffs. Read more here

PAHO warns of rising COVID cases, hospitalisations

While countries across the region are enjoying some freedom because the COVID-19 Omicron variant is causeing mild symptoms in most people, the Pan American Health Organisation (PAHO) is warning that new cases and hospital admittance are rising in the Americas. The region reported over 616,000 new cases in the last week, a 12.7 per cent increase over the previous week, while there were more than 4200 deaths, a less than 1 per cent decrease. At PAHO’s media conference on COVID-19 in the Americas yesterday, Director Dr Carissa Etienne said the Caribbean showed a 15.4 per cent increase in new infections, with cases rising in 24 of the 34 countries and territories. Deaths also increased for the third consecutive week by 39.6 per cent compared to the previous week.
 Cases rose in Central America by 53.4 per cent, with three of seven countries reporting increases, while deaths continue to decline. Read more here

 

POLITICS

Health Ministry reports 288 school cases in a week, TTUTA queries numbers

Over 200 covid19 cases have been recorded among students and teaching staff over a four-day period. This was revealed by Health Minister Terrence Deyalsingh at the weekly covid19 virtual press briefing on Wednesday. Noting the information he was sharing was provided by the Ministry of Education, Deyalsingh said that between April 25 and 29, out of the 243 schools across the country, there were 288 positive cases among students and teaching staff. Read more here

Dennis: Tobagonians already disappointed with PDP

Newly-appointed People’s National Movement (PNM) Tobago Council leader Ancil Dennis, says Tobagonians have been expressing ‘buyer’s remorse’ over the election of the Progressive Democratic Patriots (PDP) to the Tobago House of Assembly (THA). Speaking on CNC3’s The Morning Brew yesterday, Dennis said he has been receiving numerous complaints from Tobagonians, as he has kept his ears to the ground since the PNM’s staggering 14-1 defeat in the December 6 THA elections. “A number of persons are disappointed at this time, simply because the expectations have not been met, the promises made by the PDP during their campaign, all of them so far have been broken, persons are already disappointed,” Dennis said. Read more here

 

BUSINESS

Cybercrime: A lurking threat to companies

Digitisation continues to transition companies from brick and mortar models to hybrid models, balancing digital and physical innovations in several sectors. But as businesses evolve, so do criminal elements who prey on organisations through fraud and cybercrime. Cybercriminals are now more advanced, sophisticated and capable of crippling businesses with the use of ransomware and other technical methods. PriceWaterhouse Coopers’ (PwC) global economic crime and fraud survey for 2022 highlighted this fact stating that out of a survey of 1,296 businesses worldwide, 46 per cent have reported some sort of fraud, corruption or economic crime in the past 24 months. Read more here

Jamaican company buys T&T’s AS Bryden

Publicly listed Jamaican manufacturer and distributor, Seprod, yesterday announced that it has reached an agreement to acquire AS Bryden & Sons Holdings, one of Trinidad and Tobago’s leading privately owned consumer products distributors. While neither buyer nor seller disclosed the price—because Bryden is a privately owned company—the Express can report that the acquisition by Seprod was partially financed by a US$25.4 million bond issue. The two-year bond issue is unsecured, pays an interest rate of 6 per cent, has a bullet payment in May 2024 and was issued yesterday. Seprod is listed on the Jamaica Stock Exchange. Read more here

 

REGIONAL

Arrival Day: President salutes sacrifices, celebrates achievements of forebears

Arrival Day acknowledges the achievements of all those persons who came to Guyana and who, along with their descendants, have contributed to the collective efforts to build the nation and agitate for its freedom, said President, Dr Irfaan Ali in a message to mark the occasion. Pointing out that the immigrants who arrived added to the country’s cultural diversity, the President noted that their cultural imprints are evident in their religions, festivals, folklores, dress, music, dance, food, values and traditions. Read more here

 

INTERNATIONAL

China building collapse: Woman rescued from rubble after six days

Rescuers in the central Chinese city of Changsha have pulled a woman alive from the rubble of a six-storey building six days after it collapsed. She was conscious during her extraction just after midnight (16:00 GMT Wednesday) and advised rescuers how to bring her out safely, state media say. Ten people are known to have survived the disaster but at least five were killed and dozens are still missing. Arrests have been made as the building's safety is investigated. Weak safety and construction standards, along with corruption among local officials, have led to a number of building collapses in China. Rescuers in Changsha used traditional methods to detect signs of life - shouting, knocking and sniffer dogs - as well as drones. Read more here

 

5th May 2022

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