TTMA IN THE NEWS
TTMA open to sugar tax talk
The TT Manufacturers Association (TTMA) is open to discussions with the Health Ministry about a sugar tax. At a public hearing of Parliament’s Social Services and Public Administration Joint Select Committee on Wednesday, Chief Medical Officer Dr Roshan Parasram said the ministry was considering this tax as one method to combat childhood obesity. TTMA president Christopher Alcazar on Thursday said the association remained very open to discussing this issue with the Health Ministry. Saying the issue is not a new one, Alcazar said manufacturers had been taking steps to reduce the amount of sugar in the beverages they produced. Read more here
NEWS
EMA called to probe sand blasting in Freeport
Residents of Beaucarro in Central Trinidad want the Environmental Management Authority (EMA) sandblasting activities by a petrochemical company in Freeport which they claim is affecting their health. The residents said they lodged numerous reports with the EMA between October to December, the blasting operations continued. They are concerned about the large plumes of dust that are blown in their homes and loud grinding sound from the activity. “This going on several months—well maybe six to seven months now. It does have a problem when the wind turns the dust all over. The noise is another problem at nights too,” a resident said. Read more here
POLITICS
Additional scholars stranded without tuition fees
National scholars studying medicine in Jamaica say they will explore their legal options if Government refuses to pay tuition as promised. The students claim they are being told to give up their scholarships and join the Government Assistance for Tuition Expenses (GATE) Programme. On November 23, the parent of one of the affected students wrote to Education Minister Anthony Garcia asking him to reconsider the decision to not pay the full tuition for additional scholars studying at the University of West Indies (UWI) in Mona, Jamaica. According to the letter, the student earned an additional scholarship based on her performance in the 2018 CAPE examinations and applied to the medical schools at Mt Hope and Mona. Read more here
BUSINESS
T&T could feel effects of US shutdown
As the longest-ever government shutdown in United States history continues, there are warnings that T&T and other countries in the Caribbean could be affected. Economist Dr Ronald Ramkissoon said the shutdown can create greater economic uncertainty in the region and he is urging this country’s foreign affairs officials to pay closer attention to issues which might directly affect trade and immigration. “While the world, the Caribbean included, is more and more turning to developed economies for trade, dependence on North America and Europe is still critical for this region. As such, if the situation in the US worsens there will be implications for the Caribbean,” he said. Read more here
Bond markets more attractive in 2019
This week, we at Bourse review the 2018 performance of both local and international fixed income markets. While activity in the local bond market remained rather subdued last year, 2018 proved to be quite a challenging year for investors holdings US dollar bonds. We also examine the key drivers behind the outlook for both markets going forward and take a closer look at potential opportunities for fixed income investors. Read more here
REGIONAL
PJ: Set Up Crime Commission - Former PM Wants Group To Determine SOE Extensions
Former Prime Minister P.J. Patterson has proposed the establishment of a national security commission to help tackle the scourge of crime and violence across the country. Currently, there exists a National Security Council chaired by Prime Minister Andrew Holness that focuses on crime and violence at a policy level. Patterson, who was speaking at the Lay Magistrates' Association of Jamaica's Kingston chapter awards banquet on Saturday at Spanish Court Hotel in New Kingston, suggested an even bigger role for his proposed commission. Read more here
INTERNATIONAL
Brexit: May looks for way to break deadlock
Last week, Mrs May said she would focus on cross-party talks to get a Brexit deal accepted by Parliament. But it is understood she is now seeking to win approval from her own benches, with the government unlikely to win widespread Labour backing. Downing Street insisted that cross-party talks were continuing. Read more here
Why Trump's plan won't end the government shutdown
It should be good news that both President Donald Trump's Republicans and Speaker Nancy Pelosi's Democrats plan to vote to reopen the government this week. But since they are voting on vastly different plans, this new phase of their confrontation is more likely to expose the gulf between them than to end the longest federal shutdown in history anytime soon. Trump on Saturday made his most significant move yet in an impasse now nearly a month in by offering temporary protections for some undocumented immigrants in return for $5.7 billion in funding for his border wall. Read more here
21st January 2019