NEWS
Man to spend 2nd Christmas in prison
A man who spent last Christmas behind bars will do the same for Christmas 2015. Joel Walcottt appeared before the court on Friday after he broke two window panes valued $36,000. It was the second time he smashed the glass of the businessplace. Deputy Chief Magistrate Mark Wellington heard that at 7.35 a.m. on April 7, Walcott went to the establishment at Gulf View, where he had an argument with the owner. Police prosecutor Cleyon Seedan said: “The defendant took up a stone and threw it at the glass pane at the front of the building, shattering the glass.” Read more…
I Won’t Be Bullied
Primces Town MP Barry Padarath said yesterday he will not be intimidated into silence in the Parliament, following comments made by some Government ministers in the House of Representatives on Saturday, which he believes were prompted by his fiery contribution to the 2015-2016 budget debate. Padarath was responding to a social media storm that stemmed from a remark made by Sport Minister Darryl Smith and comments later, on a Facebook page attributed to Finance Minister Colm Imbert but which Imbert then disowned, saying he had been hacked. Read more…
Ganga: Don’t tarnish my name
Former Trinidad and Tobago cricket captain Daren Ganga has tendered his resignation as a board member of the Tourism Development Company Ltd (TDC) with immediate effect. Ganga made the announcement in a media release issued yesterday evening. In the release, he also denied allegations made against him by Tourism Minister Shamfa Cudjoe on Saturday that he brought a proposal before the TDC board for the funding of a Caribbean Premier League (CPL) project in the sum of US$70,000. Read more…
Bandit snatches doctor’s gun
A 70-year-old doctor of Diego Martin was robbed of a pouch containing his personal-issued .38 revolver and four rounds of ammunition, on Saturday morning. According to police reports, Dr David Bratt was sitting with a friend at Victoria Square, Port-of-Spain, at about 10.15 am when he was approached by a man who snatched a pouch containing the firearm and other documents. Read more…
Garcia: It cannot continue
Education Minister Anthony Garcia says his ministry is moving to implement measures listed in an Anti-Bullying Report to curb the recent spate of school violence. Garcia was speaking in the wake of several videos of school bullying being posted on social media. Read more…
POLITICS
Parties praised*-Council: Responsible behaviour during election
The Council for Responsible Political Behaviour has showered praise on all political parties for the responsible manner in which they carried out their campaigns in the run-up to the September 7 general election and also their responsible behaviour on election day itself. In a media release issued yesterday, the Council said even though there were breaches of the Code of Ethical and Political Conduct, these breaches were “significantly fewer than were anticipated”. Read more…
‘Kamla lost because of sport’
Sport Minister Darryl Smith didn’t hold back in his contribution to Saturday’s budget debate, telling the Opposition People’s Partnership that it lost the September 7 general election because of sport. Smith painted a dismal picture of low employee morale and questionable practices at almost every turn, saying he had met many young staffers at the ministry who were, at one point, afraid to wear their ministry shirts out in public. Employees were teased and harassed and death threats were issued because of some of the things that people in there had seen, Smith said. Read more…
New ILP leader takes over from Jack Warner following elections
Attorney-at-law Rehka Ramjit is the new leader of the Independent Liberal Party (ILP), taking over from founder Jack Warner who resigned after the September 7 general elections. She became Warner’s successor after securing 262 votes in party elections held over the weekend. The only other challenger, Simeon Mahabir, got 85 votes. The turnout was extremely low, considering 37,000 people are registered as members of the ILP. Read more…
BUSINESS
Managing the fiscal gap
Today, we at Bourse evaluate measures outlined in the 2015-2016 national budget to close the apparent extensive financing gap between budgeted Revenues and Expenditures. Investors have been enquiring about these initiatives, mindful of the significant adverse implications which could ensue if not realised. We outline these initiatives, to the extent articulated, and examine each accordingly. At first glance, the closing of the estimated $21.4 billion fiscal gap has been shrouded more in opacity rather than specific disclosures. We look to the budget debate and committee stage to shed light on detailed financing measures. Read more…
UTC launches Calypso Macro Index Fund
There is a new fund on the market—the Calypso Macro Index Fund which was launched by the Unit Trust Corporation (UTC) yesterday. And the benefits will be “legion”, according to Sekou Mark, UTC vice-president, Investment Research and Portfolio Management. With an initial investment of $1,000, T&T’s investing public or new investors can purchase units priced at $25 each. Read more…
SUMMARY: The Opposition Responds to National Budget 2015/2016
Opposition Leader Kamla Persad-Bissessar is set to respond to the national budget presented in Parliament on Monday 5th October 2015 from 10AM. Read more…
UTC offers 20M units
CHAIRMAN of the Unit Trust Corporation (UTC) Krishna Boodhai on Friday said the UTC’s launch of its Calypso Macro Index Fund will help to satisfy the needs of investors seeking strategic, long term investments denominated in local currency. Boodhai said it will create sustainable wealth for the investing public and contribute directly to the economy, hopefully igniting and stimulating interest in the local stock market. He added that it will also reinforce this country as the financial capital of the Caribbean. Read more…
REGIONAL
Suspect in massacre of family in Jamaica in police custody
One of the men police suspect shot up a house occupied by 10 members of a family, before firebombing it, is now in police custody as Prime Minister Portia Simpson-Miller condemned the perpetrators of the “evil act”. Lawmen are seeking others in connection with the murders that occurred in the rural parish of Hanover last Thursday. Linett Bloomfield, 62 and her children Mark Bloomfield, 40, and Kerry-Ann Bloomfield, 36, and nephew Brian Mangaroo, 29, and Kerry-Ann’s children Alliah Mahabee, 17, and Davian Mahabee, 15, were killed in the shooting and arson while four other occupants of the house have been hospitalized, including Linett’s husband and the teenagers’ father. Read more…
CTO gets firsthand look at Montserrat's tourism potential
The Caribbean Tourism Organization (CTO) paid a visit to Montserrat on Friday. Richard Sealy, minister of tourism and international transport of Barbados and also chairman of CTO, and Hugh Riley, secretary general of CTO, visited with Montserrat’s premier and minister of tourism, Donaldson Romeo. The main purpose of the visit was to understand Montserrat’s unique position and situation and to be better able to offer advice and technical assistance where needed. Read more…
INTERNATIONAL
Turkish PM blames Ankara bombing on Islamic State
Cybercrime costs the average U.S. firm $15 million a year
U.S. firms are losing millions of dollars annually to cybercrime, even as the cost to hackers themselves falls. According to a new report by Hewlett Packard and the U.S.-based Ponemon Institute of Cyber Crime, hacking attacks cost the average American firm $15.4 million per year, double the global average of $7.7 million. In a survey of more than 2,000 executives and employees in 250 organizations worldwide, the report's authors found that cybercrime affected all industries and all markets. Read more…
12th October 2015