Daily Brief - Thursday 8th July, 2021

NEWS

Prestige Holdings provides trucks for food basket programme

The National Agricultural Marketing and Development Corporation (Namdevco) has partnered with Prestige Holdings Ltd to increase capacity in the corporation's food-basket initiative. A release from Namdevco said it has been allowed use of Prestige's cold-storage refrigerated trucks and that this public-private partnership would ensure transport efficiencies and mobilise Prestige employees, specifically drivers and loaders, while restaurants are closed. Namdevco began distributing food baskets on May 7, to the 41 MP's offices throughout the country. To date, 50,000 food baskets including fresh produce, two locally processed chickens and half a dozen eggs have been delivered, with roughly 25,000 families benefiting. Read more here

 

POLITICS

Sinanan: PTSC taking precautions after Carlsen Field fire

Works and Transport Minister Rohan Sinanan said the Public Transport Service Corporation (PTSC) has taken measures to protect the remnants of derelict buses at its facility in Carlsen Field, after a fire there on March 23. Responding to a question from Opposition Senator Wade Mark in the Senate on Wednesday, Sinanan said an initial investigation by the PTSC discovered the fire was "a result of unlawful elements gaining access to the facility and attempting to remove scrap metal." After they were interrupted by the facility's security guards, Sinanan said, "The perpetrators started setting fire to the bus shells as an act of revenge." Read more here

 

BUSINESS

Bakeries struggle to keep prices down amid rising costs

As the prices of various food items increase, bakeries are also being challenged with their pricing structure, but this is not just related to raw materials for the baking process. Two bakeries — Puff n Stuff in San Fernando and Chee Mooke bakery in Port of Spain – said they will try to absorb price shocks for as long as possible. Both said they understood the economic challenges their customers faced and realise they cannot be greedy with their prices at this time. Read more here

Young blames UNC for NGC’s $2.1b loss

Energy Minister Stuart Young said State-owned National Gas Company (NGC) suffered the historic $2.1 billion loss in its 2020 financial year, partly as a result of the negotiation of the natural gas supply contract for the methanol and dimethyl ether (DME) plant in La Brea by the People’s Partnership administration. Although he did not name the foreign company involved, Young was referring to the natural gas supply contract negotiated by the NGC with Caribbean Gas Chemical Ltd (CGCL), which is majority owned by a consortium of companies of Japan’s giant Mitsubishi Group. NGC and the Massy Group are minority shareholders in the plant, which began commercial operations in December 2020, according to the ICIS website. The plant was commissioned more than a year late. Read more here

 

REGIONAL

‘Political drama’

President, Dr. Irfaan Ali, believes that the no-confidence motions filed against two sitting Ministers of Government are merely a display of “political drama” by the A Partnership for National Unity + Alliance for Change (APNU+AFC). “First of all, if you’re going to do something meaningful, you should put effort in it. Did you see the no-confidence motion? One line; they didn’t spend any time to put in any effort; it shows that this is just political drama,” Dr. Ali told reporters on the side-lines of an event hosted at Liliendaal, Greater Georgetown, on Wednesday. Read more here

 

INTERNATIONAL

Jovenel Moïse: Police kill four after Haiti's president assassinated

A deadly gun battle between police and the men suspected of assassinating Haiti's President Jovenel Moïse has been raging in Port-au-Prince. Police chief Léon Charles said four suspects had been killed and two detained but some remained at large and a manhunt was still under way. "They will be killed or captured," the police chief said. Mr Moïse, 53, was fatally shot and his wife was injured when attackers stormed their home early on Wednesday. Police chief Charles described dramatic scenes as officers confronted the alleged assassins. "We blocked [the suspects] en route as they left the scene of the crime," he told a news conference. "Since then, we have been battling with them." Read more here

 

8th July 2021

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