DAILY BRIEF
FRIDAY 29TH MAY, 2015
NEWS
Warner angry at prison time…All bets off Kamla
Independent Liberal party (ILP) leader Jack Warner last night promised to expose all the wrongdoings of Prime Minister Kamla Persad-Bissessar’s People’s Partnership Government. He made the comment as he appeared at an ILP meeting in Chaguanas hours after he walked out the Port-of-Spain prison having finally secured his bail. “As of tonight, Kamla, all bets are off,” he told his supporters. “Having jailed me, as of tonight all bets are off. Everything I have against Kamla I will bring it out. I have kept it too long.” Warner spent the night in jail Wednesday as he was unable to secure bail in time following an appearance in the Port-of-Spain Magistrates Court, in relation to charges brought against him by the US Department of Justice for activities as a former Fifa executive member. Read more...
Businessman linked to FIFA scandal
The United States is reportedly seeking to have a Trinidad businessman extradited to its jurisdiction for involvement in a money laundering scheme linked to former FIFA Vice- President Jack Warner. The man has been identified in US indictments against Warner, the Chaguanas West MP, as the owner of a number of supermarkets across Trinidad currently under construction. He is also said to be the proprietor of several other businesses including real estate, has bank accounts in the Bahamas and New York and is a trader on the US Stock Market. Warner has been named in US indictments for which the US Department of Justice is seeking his extradition to the US. The supermarket owner who is listed in the indictments as a co-conspirator and whose name is known to the Grand Jury in the United States has been interviewed by law enforcement officers who have been keeping tabs on him since 2008. . Read more...
'Jack's accountant bought foreign $$'
The JTA Supermarket chain is the business interest currently engaging the attention of United States law enforcement authorities, sources have disclosed.The eight-count federal indictment, which makes corruption allegations against former government minister Jack Warner, alleges the ex-FIFA vice-president diverted a "significant portion" of a US$10 million bribe to his private account in a local bank and "laundered the funds through accounts held in the name of a large supermarket chain and affiliated investment company in Trinidad". Sources have identified the supermarket chain as JTA Supermarket and the affiliated company mentioned in the US- issued indictment against War-ner as JT Allum and Co Ltd. Owner and director of the JTA Group Carl Mack yes- terday confirmed there were "some foreign currency purchases" from Warner by the company's accountant, Kenny Rampersad. Read more...
BUSINESS
ANSA McAL crosses $6bn in revenue
The ANSA McAL Group of Companies achieved $802 million in profit after tax and for a second consecutive year crossed six billion in revenue, chairman and chief executive Norman Sabga told shareholders yesterday. Giving highlights of the financial statements for the year ended December 31 2014, Sabga said the group’s total assets now exceed $13 billion and liquidity stood at $1.3 million. At the group’s annual general meeting at Tatil Building, Port-of-Spain, Sabga said in response to a question about liquidity from a shareholder said the group was in an enviable position “where we have too much cash.” Finance director Aneal Maharaj later explained the group’s cash surplus position: “Cash available is close to $1 billion and I exclude the publicly listed companies in the group. There is only one borrowing third party for the group and that is last year we did draw down on a US$20 million credit line and that remains in place today.” Read more...
Support for Gambling Bill passage
The passage of The Gambling (Gaming and Betting) Control Bill 2015 in the Lower House on Wednesday evening has been hailed by industry stakeholders as “happy” and much anticipated event. President of the Trinidad and Tobago Members Clubs Associations, Sherry Persad, said “It has been a long time in the making. We are happy...We have been lobbying Government 15-years-now for regulation.” She lamented that without regulation, the estimated 10,000 employees of members clubs have found it very hard, if not impossible, to get loans from banks while some owners have had their accounts closed as the local banking sector moves to become compliant with new, international financial regulations. “We work hard, we pay taxes like everybody else...We have worked hard and we want our industry, like any other industry, to be transparent, to have regulation. We have been fighting hard for that. Read more...
Mottley to retire as UTC chairman
He announced his retirement during the UTC's annual general meeting, at the Daaga Auditorium on The University of the West Indies, St Augustine, campus on Wednesday. A decision is yet to be made about his replacement. "As the saying goes, 'time flies when you are having fun' and indeed the time spent at the corporation passed quickly and I thoroughly treasured every minute of steering the proverbial ship. But my most profound rewards came from serving you, our valued customers," he told a packed auditorium."If I were to reflect on which was my defining contribution in serving you during my stewardship, I would unequivocally point to the recruiting and retention of one of the finest teams of investment professionals in the financial services industry and then, with the support and guidance of a very fine board of directors, in steering this team in the process of good governance,” he added. Read more...
Sissons opens newest shop in Debe
Commercial manager at ANSA Coatings Ltd Umanath Maharajh wants to see more public and private sector investment in local paint products. In his address at the official launch of the country’s newest Sissons Colour Shop at SS Erin Road, Debe, on Tuesday Maharajh said: “What we find happening is that even when we have better quality, even when we have better pricing, somehow from somewhere within the system and bureaucracy, you see foreign paint being specified and being used.” He said the Food Production Ministry is growing onions in Chaguaramas to reduce the food import bill, “other people are specifying paints from the US from Brazil from Europe. That is not consistent. He added: “So in our daily decisions please use what is done locally and what contributes to the local economy because this is where we live, this is where we are.” Read more...
POLITICS
Sando Mayor praises work of new crime cops in south
The new team of police officers spearheading crime in the Southern Division was officially recognised for their outstanding work by San Fernando Mayor Kazim Hosein who yesterday morning hosted them in his spanking new office located on the ground floor of the San Fernando City Hall.Hosein said he had seen a drop in crime in the division and further thanked Assistant Commissioner of Police (South) Donald Denoon, Snr Supt Irwin Hackshaw (Divisional Commander) Supt Florence Hodge-Griffith and Insp Don Gajadhar for the work done so far. “Despite the setbacks you all are doing a very good job,” Hosein told the officers. Speaking to reporters yesterday, Insp Gajadhar said a lot of intelligence gathering has resulted in the division being the “most successful in warrant operations, CID crime operations. . Read more...
Manning notes Jack’s predicament
Former prime minister Patrick Manning has taken note about the imprisonment of Chaguanas West MP Jack Warner on Wednesday.According to a post on his Facebook page, Manning said, “ In 2010 the lyrics to a song Crazy sang which was sponsored by the PP (People’s Partnership) went like this...‘Jack Warner yuh have him in a corner!!’ The post, which is attributed to the People’s National Movement (PNM) San Fernando East MP, adds, “ ‘Him,’ was referring to me (Manning).” Attached to this post was an article from CNN.com entitled, “Sources: Justice Dept to bring corruption charges against FIFA officials.” Beneath Manning’s post are comments from 29 persons who like his post. One post attributed to a person named Arthlon Dcoach states, “ Who in the corner now!!!!!!!!!!!!” A person named Juliette Rennie posted, “God never sleeps. He only puts on pajamas.” Read more...
REGIONAL
Barbados tourism sector records double-digit growth
Barbados’ tourism sector broke a 25-year record during the first quarter of 2015 to reach 171,471 long stay arrivals. Barbados Tourism Marketing, Inc (BTMI) chairman, Alvin Jemmott, noted that there were record arrivals in each of the first three months of 2015 and extended his congratulations to all industry workers and partners for their steadfast efforts on behalf of the destination.“This was a very strong winter season. The Caribbean Tourism Organization (CTO) has predicted a five percent increase in long stay arrivals for the region for the entire year and we believe our performance in this first quarter bodes well for us to comfortably exceed that target,” he said. Jemmott attributed this milestone performance to a number of factors including increased airlift capacity negotiated by the BTMI; healthy economic conditions in key markets, a commitment to developing new source markets, Barbados’ strong reputation among its global partners and the agency’s solid promotional strategies for reaching the travel trade, media and consumers in each market. Read more...
INTERNATIONAL
Texas flood victim: 'It turned the living room into a gigantic washing machine'
The ferocious Blanco River surged into the Perez family's vacation home, blowing the door off its frame. "Oh no!" Sarah Perez cried from the second floor.The torrent of brown water filled the Texas house, creating a whirlpool of chairs and tables. "It turned the living room into a gigantic washing machine," Ernie Perez said. His wife wondered aloud whether she should call 911. "911 is not going to be able to get to us," he replied. Fortunately for the Perez family, firefighters were already in that part of Wimberley, Texas, to check on an elderly neighbor. "We see flashing lights in the distance. We saw a fire crew with two trucks and a boat," Ernie Perez said. "My brother whistles and gets their attention." The rescue Saturday night was like a movie, he said, with boats, lines and emergency workers ferrying his family into the dark. The Perez family managed to survive, but many did not. Read more...
29th May 2015