TTMA In The News
Gopee-Scoon: Govt to pursue Cuban market
Government is “actively seeking” to establish a line of credit to support Trinidad and Tobago (TT) manufacturers’ exports to Cuba, says Trade and Industry Minister, Paula Gopee-Scoon. “The Cuban market is of particular interest. Many of you will join me as we participate in the 2016 Havana International Fair (FIHAV) which takes place next month. We are actively seeking to ensure the establishment of a line of credit to support our country’s exports to Cuba.” Gopee-Scoon was speaking at the launch of the Trade and Investment Convention (TIC) 2017 yesterday (Wednesday) at the House of Angostura, Eastern Main Road, Laventille. Referring to Prime Minister Dr Keith Rowley’s address to the nation last Sunday (September 11), in which he said “it is about seizing opportunities and creating a more acceptable and sustained standard of living for all’, Gopee-Scoon declared that TIC 2017 “presents a perfect platform” to do so. Read more here
FATCA concerns at TIC launch
The manufacturing sector, a proven generator of foreign exchange for the country, is being challenged to step up and play a role in T&T’s economic recovery. T&T Manufacturers’ Association (TTMA) president Dr Rolph Balgobin said with the decline of energy in value and volume, the sector “must see it as our national duty to encourage real engagement and deep commitment.” “It is about seeking to capitalise on the opportunities that will lead our economy into a strong recovery and a return to significant growth in the future,” he said yesterday at the media launch of the Trade and Investment Convention (TIC) 2017 at the House of Angostura, Laventille. Read more here
‘No downsizing in the manufacturing sector’
The manufacturing sector will not be downsizing. The assurance came yesterday from president of the Trinidad and Tobago Manufacturers Association Dr Rolph Balgobin at the launch of the 2017 Trade and Investment Convention (TIC), at Angostura House, Eastern Main Road, Laventille. “Manufacturing in this country accounts for between eight and 12 per cent of the country’s Gross Domestic Product (GDP) and provides employment for more than 50,000 people, which is around ten per cent of the workforce,” he said. “Manufacturing is not downsizing. We are consolidating and we continue to do some hiring, so while others pause, we are pressing ahead,” Balgobin added. Read more here
NEWS
Daddy Upstairs
This, according to Rehana Singh, was how her teenaged daughter Shivani Persad reacted when told that her (Shivani) father Vishnu Persad, had been shot and killed on the weekend. Fourteen-yearold Shivani, who went missing last week Wednesday, rushed into her Rio Claro home on Tuesday night, shortly after being rescued by police, looking for her father. She burst into tears on being told that he was dead. In disbelief, the youngster insisted her father was not dead but in a room upstairs. As she hugged her daughter tightly, Singh yesterday said her daughter was left traumatised by her father’s murder and may be in need of counselling. Shortly after midnight on Sunday, Vishnu Persad, 36, was shot and killed at the family’s Mahabalsingh Trace, Navet Village, Rio Claro home, while his daughter was still missing. Saying she does not know how her daughter will cope when they gather today to bid Persad a final farewell at his funeral, Singh said she feels hurt that her child is going through such stress and trauma but is relieved that she (Shivani) is alive and safe. Read more here
Runaway schoolgirl quizzed again
For a second consecutive day the man who was held with a missing 14-year-old girl remained in police custody. Shivanie Persad, who went missing last Wednesday, was found by police at a mall in Chaguanas on Tuesday. According to officers of the Rio Claro Police Station, the 25-year-old man from Bangladesh, Ecclesville, Rio Claro, remained in police custody up to yesterday. While officers could not say what charges would be laid against the man, who is a gardener, they said investigations into the incident were continuing. Persad, of Mahabalsingh Trace, Rio Claro, went missing after she failed to return home from classes at the Rio Claro East Secondary School. Her father, Vishnu Persad, was shot and killed at the family home on Saturday after spending the day searching for her in Mayaro. Read more here
Man pleads guilty in attack on ex-wife, lover
A man who attacked his former wife and her boyfriend with a cutlass when he met them making love appeared in court yesterday. Patrick Joseph, 49, pleaded guilty to the offences of malicious wounding and malicious damage. Joseph, of Marabella, appeared before Magistrate Brahmanand Dubay in the San Fernando First Magistrate's Court. The court heard that around 9.30 p.m. on Monday, Joseph went to the home of the woman in Gopaul Lands. Prosecutor Cleyon Seedan said Joseph observed the couple and grabbed a cutlass. Read more here
POLITICS
Kamla: Kickstart the economy
Opposition Leader Kamla Persad-Bissessar yesterday called on Government to take measures to kickstart and diversify the economy. Persad-Bissessar issued this call following the adjournment of the House of Representatives. Earlier in the sitting, Finance Minister Colm Imbert announced that Budget Day will be September 30. Prime Minister Dr Keith Rowley had previously indicated Imbert would present the Budget at the end of this month. “I would to see them put measures in there to kickstart the construction sector because that will grow jobs and grow the economy,” she told reporters. Persad-Bissessar added, “I would like to see measures for diversifying the economy.” Asked about specifics, the former prime minister had no idea whether Government would further reduce the fuel subsidy, raise or reduce taxes. Read more here
Olivierre defends outburst: I spoke in a language they understood
Calls were being made yesterday for Prime Minister Dr Keith Rowley to fire his Energy Minister Nicole Olivierre after a video of her losing her cool with protesting constituents of La Brea went viral on social media. However, others have applauded her decision to stand her ground. By late evening, the video was viewed over 62,000 times. Olivierre last night defended her action and the Prime Minister’s right to chose his team. “I did not lose my cool. I think you sometimes need to speak to people in a language they would understand because this protest action has been really becoming out of hand.” Read more here
PM: Backpay for protective services by 2017
September 30 is Budget Day. The 2017 budget will be delivered on the last day of the 2016 financial year by Finance Minister Colm Imbert. Prime Minister Dr Keith Rowley has already signalled to the population to expect “some pain” as this budget will address the deep imbalances between revenue and expenditure, foreign exchange earnings and demand for foreign goods. Rowley yesterday made certain important announcements in Parliament, concerning outstanding payments which will come in the budget. Backpay will be paid. The Prime Minister gave the assurance the remaining 50 per cent of the backpay owed to public officers— specifically the police, fire and prison officers—will be paid between October 2016 and September 2017. He said the Government paid the first 50 per cent in fiscal 2016, “and I can tell you now that the balance will be paid in fiscal 2017”. Read more here
BUSINESS
Business groups slam Govt, Opposition on Fatca
Government and Opposition came in for strong criticism from business groups for failing to “put country first” because of their seeming inability to meet the September 30 deadline to become compliant with the US Foreign Tax Compliance Act (FATCA). The American Chamber of Commerce of Trinidad and Tobago said TT “is on the brink of being demoted to the periphery of the global financial system, largely due to inaction on the part of politicians on both sides of the political divide.” “The former Government had ample opportunity to pass this legislation during its tenure, and the current Government has also had more than a year to ensure that this important piece of legislation was properly vetted, reviewed and passed.” While AmCham was mindful of “limited, if any, consultation with stakeholders”, it says there is still enough time to complete deliberations and ensure passage of the Bill before September 30. Read more here
Chamber, BATT, want more speed on FATCA
The T&T Chamber of Industry and Commerce is “wholly dissatisfied” that Government is seeking an extension of the September 30 deadline for legislation related to the Foreign Account Tax Compliance Act (FATCA). In a media statement, the business group said while stringent scrutiny of the Bill at the level of a Joint Select Committee is appreciated, the matter should not have reached that point. “The business community and, by extension, the population appears to be caught in the middle of this predicament, and rejects any attempt at what might well be political jousting on the part of our respective leaders. We therefore call upon the powers that be to act responsibly and with dispatch,” the Chamber said. Read more here
Self-driving cars still need humans to program them
Auto and tech companies are in a race to get self-driving cars to the public, but as with many cutting-edge technologies, there aren't enough trained engineers to meet the demand for talent. So the online higher education company Udacity created a "nanodegree" to train self-driving car engineers. Udacity is founded by Sebastian Thrun, whose previous work included launching Google's self-driving car prototype. Read more here
REGIONAL
Barbados government concerned about pace of CLICO restructuring
The Barbados government is very concerned about the pace at which CLICO Holding’s restructuring process is taking place. Minister of finance, Christopher Sinckler, expressed those concerns while delivering an address at the Domestic Financial Institutions Conference on Tuesday. Sinckler disclosed that in December some decisions were taken, which were contingent on the courts’ acceptance of the restructuring plan for CLICO, which was placed in receivership in 2013. Read more here
TIVOLI APOLOGY - Holness To Apologise In Parliament For Deadly May 2010 Operation
The Government is to offer an apology to residents of west Kingston over the operation by the security forces in the area in May 2010, which left dozens dead and injured and millions in damage to houses and other properties. Justice Minister Delroy Chuck yesterday told The Gleaner-Power 106 News that the apology was being crafted, adding that "in a matter of weeks, it is likely that it is to be presented to Parliament". The apology is expected to be delivered by Prime Minister Andrew Holness. Making an apology is one of the 15 recommendations made to the Government by the commission of inquiry into the incursion. The 900-page report of the three-member panel, which was chaired by Barbadian jurist Sir David Simmons, was released to the public in June after being tabled in Parliament. Read more here
INTERNATIONAL
Hinkley Point: UK approves nuclear plant deal
The new plant at Hinkley Point in Somerset is being financed by the French and the Chinese. In exchange, China wants to use its design for new UK nuclear stations. The Chinese welcomed the decision, saying they were not concerned about new rules on future projects. Jean-Bernard Lévy, group chief executive of French firm EDF, which is building the plant, said: "The decision of the British Government to approve the construction of Hinkley Point C marks the relaunch of nuclear in Europe." The government said it would now "impose a new legal framework for future foreign investment in Britain's critical infrastructure". Major investors will no longer be able to sell their stake in a project before it is completed without the government's approval. Read more here
Philippines President Duterte 'ordered death squad hits while mayor'
Filipino President Rodrigo Duterte's office has denied accusations that Duterte ordered a militia group to carry out extrajudicial killings while he was mayor of Davao City. The claims were made by a witness who was testifying Thursday before a Philippines Senate committee set up to probe alleged extrajudicial killings in the three months since Duterte became president. The man, who identified himself as Edgar Matobato, testified that he was part of the 300-member "Davao Death Squad" (DDS), which he alleges was run on the orders of Duterte. Matobato testified the DDS killed alleged drug dealers and criminals in the southern city of Davao, on the order of Duterte when he was mayor, between 1988 and 2013. More than 1,000 were killed in Davao City alone, he claimed. Read more here
15th September 2016