NEWS
CLICO has $29.32b in statutory fund*
CLICO policyholders’ legal adviser Ramesh Lawrence Maharaj said CLICO has $29.32 billion in its statutory fund and it should use the sum to pay the 1,500 policyholders. Maharaj made the comment at a meeting with policyholders at Gaston Courts, Chaguanas, yesterday. CL Financial collapsed in January 2009, as the global financial crisis in the latter half of 2008 exposed the group’s inability to meet its commitments to pay maturing investments at CLICO and CLICO Investment Bank (CIB). Read more here…
HE WAS AT PEACE
IF THERE is such a thing as beauty in death, then, Patrick Manning had a beautiful death.This was the view of doctors - who along with Manning’s family including his wife Hazel - witnessed his final moments of life on Saturday in the High Dependency Unit of the San Fernando General Hospital (SFGH). And as with so many of his political and personal decisions made over his 69 years of life, Manning was at peace even as he stared death in the face. Read more here…
POLITICS
Charles wins big in PNM run-off
Former Tobago House of Assembly (THA) presiding officer Kelvin Charles scored a comfortable victory over his opponent, Tracy Davidson-Celestine, in the contest for political leader of the People's National Movement (PNM) Tobago Council. Charles prevailed notwithstanding an alliance of sorts quickly culled together to defeat him by some of the candidates (Rennie Dumas and Denise Tsoi-a-Fatt), who did not qualify for yesterday's run-off and threw their support behind Davidson-Celestine. However, Charles received 2,416 votes, while Davidson-Celestine got 1,894. Charles said the win was a victory for the people and not for him. “They were the prime motivation behind my stepping down as THA presiding officer and contesting the internal elections,” he said last night. Read more here…
BUSINESS
750-room Sandals hotel in Tobago can be reality: Butch eyes No Man’s Land
Founder and chairman of Sandals Resorts, Gordon “Butch” Stewart, has admitted he has his eyes on No Man’s Land for a 750-room hotel in Tobago. Stewart’s admission comes as an online petition, calling on the Tobago House of Assembly (THA) to start public consultation and have full disclosure and accountability on the proposed development in Tobago, continues to garner support. The petition has been organised by businessman Dedan Daniel and has so far secured over 2,000 signatures. The petition started last month, days after Prime Minister Dr Keith Rowley announced the proposal. Read more…
PM looking forward to China visit
PRIME Minister Dr Keith Rowley said he is looking forward to his official state visit to China and meeting with Chinese President Xi Jinping. In a statement issued by the People’s National Movement (PNM), of which he is political leader, Rowley expressed this view as he congratulated the Chinese Communist Party on the 95th anniversary of its founding. The Chinese Communist Party was founded on July 1, 1921. The Prime Minister observed it was not until the culmination of 28 years of struggle that the Communist Party of China succeeded in its quest to usher in what is internationally regarded as the “New Democratic Revolution” which gave birth to the Peoples Republic of China in 1949. Read more here…
REGIONAL
Energy Minister says Jamaica must position itself in ship refuelling market
Minister of Science, Energy and Technology Dr. Andrew Wheatley says it is important for the country to position itself to capture its fair share of the ship refuelling market, with the recent opening of the expanded Panama Canal. Read more...
Stolen millions reportedly moved into Cayman Islands hedge fund
Private investigators have reported that two of the “Cayman Gang of Four”, Derek Buntain and Sharon Lexa Lamb, the fired president, and senior vice president respectively of closed Dundee Merchant Bank, used their shell company, Winterborne Management Ltd (WML) to steal and move tens of millions of dollars into a Cayman Islands-based hedge fund that they were connected to. Read more…
INTERNATIONAL
Flooding kills more than 180 people in central and southern China
'God wants you to die': Dhaka's long night of terror
The heat inside was stifling.The restroom wasn't meant to hold eight people. But there they were in the second-floor bathroom of the Holey Artisan Bakery, crouched in fear, unable to breathe.Hours earlier, one of the gunmen, who'd been unleashing hell on the floor below, had walked up to the door. Read more…
4th July 2016