TTMA In The News
PM to manufacturers: Focus more on exports
Prime Minister Dr Keith Rowley has challenged the manufacturing sector to grow its brands, supply the needs of the country, lean towards exports and earn foreign exchange. In the keynote address at the T&T Manufacturers Association’s president dinner and awards at the Hyatt Regency, Port-of-Spain, he expressed confidence in the sector and “its driving role in the future prosperity of our economy.” Dr Rowley noted the sector was the third largest contributor to gross domestic product (GDP) and the second largest non-petroleum contributor. He said since 2000, its output has grown from $ 2.1 billion to $6 billion in 2015 adding that around the world the manufacturing sector helped to drive economic growth and raised living standards “A very important point to note is that T&T’s manufacturing sector overall is a net foreign exchange earner and therefore a critical pillar in stabilising our domestic economy,” he said. Read more…
NEWS
$20,000 Senoritas
Their homeland facing economic collapse, more and more Venezuelan women and men are being lured to Trinidad by promises of well-paying jobs, only to fall victims to human trafficking, slavery for the men and prostitution for the women. Sources say Venezuelan women are placed on ‘auction’, where bidding by local pimps and brothel operators can reach as high as $20,000. Yesterday, four Venezuelans - a woman and three men - who entered the country a week ago, were found in a two-bedroom, wooden house at Quash Trace in Sangre Grande during a raid by Sangre Grande CID officers. The four, aged 49, 32, 29, and 24, are believed to have been brought specifically to feed the thriving prostitution business. None of them speak English. Newsday was told that Assistant Commissioner of Police (ACP) Surujdeen Persad received certain information and coordinated a party of detectives including Inspector Ken Lutchman, Cpl Randolph Castillo, PCs Darrel Francis, WPC Stephens-Sammy, Miranda, Gadar and Joseph. The officers at 9 am, surrounded and stormed the house. Inside, the woman was lying on a bed, a man was sitting in a chair while the other two men were lying on another mattress placed on the floor. Read more…
Two audits turn up several irregularities: EFCL board fires five
The board of the Education Facilities Company Ltd (EFCL) has decided to terminate the employment of five managers following the completion of two forensic audits into its operations. Those fired on Monday were Veda Ramnath, manager of procurement, Ria Narinesingh, divisional manager of finance: Frank Mahabir, manager of maintenence and repairs, Surendra Balgobin, manager of secondary schools and Deva Sharma, manager of implementation. Prior to the firings, Ramnath, Narinesingh, Mahabir, Balgobin and Sharma had been sent on administrative leave. Read more…
577 speeding tickets in 6 weeks
In just over a month since the police were given the means to legally enforce the speed limits on the roadways of this country, 577 tickets have been issued, generating $577,000. There was also a 53 per cent reduction in the number of fatalities caused by road traffic accidents. This was stated yesterday during the weekly news briefing at the Police Service administration building at Edward Street, Port of Spain. Most drivers sticking to limit. Yesterday’s briefing was chaired by Supt Mathura Singh of the Traffic and Highway Patrol Branch, alongside public information officer for the service, Ag ASP Michael Pierre, and Road and Safety Campaign coordinator PC Brent Batson. “Since the introduction of these speed-measuring devices (on May 2), we have had the desired impact on the reduction of accidents, and members of the public need to be highly commended for their adherence to the speed limits. “The comparison of figures in 2015 and 2016 shows that there has been a 53-per cent reduction in road traffic deaths for the month May 2016. Read more…
POLITICS
Don’t pay errant Ministries
Fed up of late submission of. reports from ministries, Auditor. General Majeed Ali yesterday gave. a Parliament committee a novel. way to handle the problem: don’t. pay them. “Stop the funding,” Ali. told Parliament’s Public Accounts. Committee, when asked to handle. a problem which has gone back. decades. “If you stop the funding. or tell them funding would not. be coming if they do not submit,. they would have to submit their. accounts.”. The committee heard that, for. another year, there was the same. litany of problems with the State’s. books. Committee chairman Dr. Bhoe Tewarie, said Ministries and. entities have failed to submit documents. on time, there have been. infractions in the procurement of. goods and services, auditors have. lack of access to relevant information,. internal audit functions have. been poor and difficulties with. special audits and staffing. Read more…
Dillon keen on joint sea patrols
Faced with an increase in human trafficking in the wake of Venezuela’s social unrest, National Security Minister Edmund Dillon wants co-ordinated patrols between Venezuela’s Guardia Nacional and the T&T Coast Guard. Speaking to reporters after touring the Cedros port in the southwestern peninsula yesterday, Dillon said Venezuela’s crisis had triggered an upsurge in foreign nationals entering Trinidad through the ports of Chaguaramas, Cedros and King’s Wharf, San Fernando. He revealed that a commanding officer of the Venezuelan Guardia de Nacional had arrived in Trinidad on Monday to engage in high level security talks with the commanders of the T&T Coast Guard. “He will be here until Friday and part of the discussion is how do we co-operate with one another in patrolling the Gulf of Paria,” Dillon said. Read more…
BIR, Auditor General in turf war
The Board of Inland Revenue (BIR) and the Auditor General Department are engaged in a turf war. And President Anthony Carmona or the Attorney General are being called upon to take the action needed to break the impasse. Read more…
BUSINESS
Scotia nets $308M in profit
ScotiaBank Trinidad and Tobago has reported net income of $308 million for the six months ended April 30. This represents an increase of $48 million or 19 percent over the same period in 2015. Announcing the second quarter (Q2) results yesterday, the bank’s managing director, Anya Schnoor, said the “very strong interim results... continues to highlight the strength of the bank, especially given the challenging economic environment in which we all operate.” The “strong” Q2 results include a four percent growth or $917 million in total assets which stood at $22.3 billion as at April 30. Earnings per shares increased to 174.5 cents while return on equity and return on assets improved to 16.75 percent and 2.78 percent, respectively, when compared to 2015. Read more…
PM seeks private sector help
Despite T&T’s small size, the country must continue exploring and entering foreign markets to build the economy, Prime Minister Dr Keith Rowley said yesterday. “We as a small country can grow from a parochial location. That is why when Carib Glassworks talks about entering foreign markets, we should feel strong and confident. As one comedian said how much bananas could you eat, how much curry can you use. Even if we can find ourselves in the Caricom region we would find that very soon that market cannot sustain our aspirations and we have to look outside,” he said in an address at the launch Carib Glassworks Limited’s new $200 million. Dr Rowley said he recently met with the country’s top business leaders and asked them how Government can make the business environment more efficient. He added that Government cannot run the country on its own and needs the help of the private sector which has had decades of developing experience, building a financial base and finding new markets. He said an over reliance by ordinary citizens and the private sector’s on Government is a recipe for failure. Read more…
COP: Why was the HSF money withdrawn?
Congress of the People (COP) acting political leader, Dr Anirudh Mahabir, has called on the Government to explain why $2.5 billion was withdrawn from the Heritage and Stabilisaion Fund (HSF). Mahabir said withdrawals from the HSF must be carefully done to protect its availability for ‘future generations’ and not to be utilized merely for short-term purposes. Even when it is to be used to support public expenditure, withdrawls must be as a last resort and limited as required by the HSF Act. He said, “We are very concerned that this withdrawal must not be the first of many. It would have been much more transparent and accountable if they had done that rather than the public becoming aware of the withdrawal via a leak to the media,” he said. Mahabir said while a withdrawal from the HSF was permitted when petroleum revenues fall 10 per cent below its estimated level in a fiscal year, it was worrying that neither the Finance Minister nor the Prime Minister thought it fit to indicate whether that situation exists to the Parliament which approved the 2016 Budget. Read more…
REGIONAL
Pregnancy Fears - Expectant Mothers Worry Over Threat Of ZIKV
With the ravaging effects of the chikungunya virus still fresh in their minds, fear of the Zika virus (ZIKV) is spreading among Jamaicans. At the top of the list of those in fear are expectant parents, worried about the effect infections could have on their unborn children. Twenty-three-year-old Amanda Creary, who is nine months' pregnant, said the excitement of having her first child next week has waned as she remains concerned about the threat to her unborn baby. "Everybody wants to have a healthy baby, and that is my hope. I have always been worried from the first time I found out that I was pregnant," Creary told The Gleaner. "I try my best to take certain precautions, though. I cover up with the mesh and I use the mosquito repellent," she added. "I think about it a lot, especially when I see the advertisements on the television. I am very hopeful nonetheless, and in the name of Jesus, my baby will be OK." ZIKV has been linked to two development conditions: microcephaly and Guillain-Barre syndrome (GBS). Read more…
Bahamians reject gender equality referendum
Bahamians on Tuesday resoundingly rejected the four gender-equality questions in the second constitutional referendum in an independent Bahamas, delivering an unquestioned and blistering defeat to the yes camp, and refusing to accept the government’s contention that the vote represented an opportunity for progress. While it was clear from the trend that the ‘no’ vote prevailed, many of the results were still not available close to midnight on Tuesday. The failure of the Parliamentary Registration Department emerged as a significant side story in the referendum as thousands of people were glued to their television sets and monitoring the results online. Those results came slowly and by the end of the evening it was clear that there had been significant issues in the process. Prime Minister Perry Christie did not release any statements onTuesday night. However, Progressive Liberal Party chairman Bradley Roberts conceded late in the night that the government had failed in its efforts to get the bills passed. Read more…
INTERNATIONAL
Mother, brother burn Pakistani woman to death, police say
A young Pakistani woman was burned to death by her mother and brother Wednesday, apparently because she married a man against her family's wishes, police said. Zeenat Rafique, 18, had eloped and moved away, but returned to her family's home in Lahore because she was under the impression a reconciliation could occur, Punjab police representative Nabeela Ghazanfar said. But when Rafique arrived, her mother and brother tied her to a bed, poured gasoline and set her on fire, Ghazanfar said. She died on the spot. "There were marks on the body but I cannot confirm torture because it was burnt. We have to wait for postmortem report," Ghazanfar said. The mother, Parveen Bibi, turned herself over to authorities and has expressed no sorrow for her actions, police said. She's now in custody. Read more…
Major and Blair say an EU exit could split the UK
9th June 2016