Tue, 13 Aug 2019 13:28:18 +0000 NCB solid stock for the future

NCB Financial Group (NCB) produced net profit of $21.3 billion for the nine months to June 2019 with profit attributable to stockholders of $20.7 billion, a marginal increase of $87 million over 2018. For the quarter to June, NCB reported $8.3 billion in profit attributable to shareholders inclusive of $2.3 billion resulting from the increased […]

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Mon, 12 Aug 2019 16:35:11 +0000 Stalled

Plans for a proposed $2.5 billion revitalization of the former Ginn Sur Mer development in Grand Bahama and the promise of 1,400 jobs have stalled with the departure of Skyline Investments, the Toronto-based firm that was originally in negotiations to purchase the Old Bahama Bay […] The post Stalled appeared first on The Nassau Guardian.

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Mon, 12 Aug 2019 09:50:37 +0000 Celebrating our youth autism advocates

DR RADICA MAHASE “MY name is Maya Kirti Nanan and I am 16-years-old. I want a better country for my brother. Why should he always be at a disadvantage because he has autism? I think that adults should listen to the youth because we are the future of this country and we know what we want this country to be. I don’t think that adults in TT are very concerned about those with special needs. I do know that if we are given the opportunity we can make a difference though.” Today, Monday August 12 is International Youth Day and today Support Autism T&T celebrates all our youth volunteers. The amazing youths who have helped us to create a formidable autism advocate group. We currently have over 200 youth volunteers from various educational institutions who belong to our Siblings and Friends Network. They are the core of the NGO and they conceptualise, organise and execute all our activities/events. Today we recognise their roles in making TT a country that is inclusive of those with special needs. August 12 was designated as International Youth Day by the UN General Assembly in 1999. According to the UN, it “Serves as an annual celebration of the role of young women and men as essential partners in change, and an opportunity to raise awareness of challenges and

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Sat, 10 Aug 2019 12:00:12 +0000 Assured Guaranty To Acquire BlueMountain

Assured Guaranty – a publicly traded Bermuda-based holding company — has entered into an agreement to purchase all of the outstanding equity interests in BlueMountain Capital Management, LLC  and its associated entities for a purchase price of approximately $160 million, subject to certain adjustments. BlueMountain is an alternative asset management firm with $19.3 billion in assets […](Click to read the full article)

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Fri, 09 Aug 2019 12:30:24 +0000 Dominican Republic highly prone to cyberattack

Santo Domingo.- The region’s cyberattack rate is 28% higher than the global average, and the Dominican Republic ranks fourth among the countries with the highest threat risk. Microsoft technology solutions specialists, Julio Ureña and Federico Muller provided the figure, when presenting the most recent Security Intelligence Report (SIR), from January to June and which analyzed the 6.5 billion threat signals that cross the Microsoft cloud daily. The experts stressed that the country is being greatly affected by malware attacks and that cyber criminals use various methods to infect computers. “An outdated operating system, a vulnerable application, email or a malicious website. It is for this reason that it is necessary to educate about cybersecurity as a country to improve our security posture,” they said. Recommendations At the conclusion of the […]

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Fri, 09 Aug 2019 08:01:39 +0000 Young ‘tree huggers’ form movement

CO-FOUNDER of IAMovement Jonathan Barcant is proud to be a tree hugger. IAMovement is a TT-based non-governmental organisation (NGO) which promotes protection of the natural environment of TT and emphases the socio-economic benefits of “going green.” “Leaving the Caribbean space for an extended period and seeing how the whole big world can operate with good systems and being pushed to look outside the box from childhood had a profound impact. I told myself I could not have come back to TT after leaving for college in Canada, especially seeing the lack of progress in environmental and social issues. I told myself I would have never returned until retirement where I would go to Tobago. It was funny, however, that the same things that kept me away, are the things that made me return and stay. These things give me a sense of purpose on this mission.” A lover of nature who hikes regularly, he said he is in love with the flora and fauna of TT and enjoys being called a tree hugger. “I see being a tree hugger as a good thing. The United Nations, in a publication, said reforesting a trillion trees could be the greatest solution for saving us from the negative impacts of global warming. We should all love trees!” This love inspired the purchase of what he c

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Fri, 09 Aug 2019 00:16:32 -0500 Lasco Manufacturing builds record cash pile

Lasco Manufacturing Limited grew profit at double-digit levels in the June 2019 quarter and, in the process, amassed its highest-ever stockpile of cash at about $1 billion. Although Lasco Manufacturing has recorded strong operating cash flows over...

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Fri, 09 Aug 2019 03:02:36 +0000 Our youth matter

THE EDITOR: On Monday the world will celebrate International Youth Day. The UN states: “There are currently 1.8 billion young people between the ages of ten and 24 in the world. This is the largest youth population ever. But one in ten of the world’s children live in conflict zones and 24 million of them … Continue reading Our youth matter The post Our youth matter appeared first on Trinidad and Tobago Newsday.

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Thu, 08 Aug 2019 08:24:55 +0000 Citrus growers ready to get back to market

THIS COUNTRY once had 14,400 acres of land under citrus cultivation. Now, fewer than 1,000 acres are dedicated to the crop, as labour shortages and lack if interest contribute to the industry's decline over the last decade. But despite the challenges facing the local industry, the Co-operative Citrus Growers Association (CCGA) believes the industry's potential to be great again has not been totally squeezed out. CCGA president Felix Clarke was optimistic during a Business Day interview last Friday, and while loss of land under cultivation has put a damper on local citrus farmers' efforts to develop the industry, the group has sought alternatives. When labour for citrus in TT declined over the last seven to eight years, Clarke said, the CCGA took the decision to invest in land in Guyana. The association has 1,000 acres of land in Guyana, with 200 acres now under citrus cultivation. Given economic developments taking place in Guyana, Clarke said Guyana could be the "next economic frontier in the West Indies." The CCGA, he said, has been in talks with the Guyanese government about additional land for citrus cultivation. This does not mean there is no future for citrus in TT. In 2008, SM Jaleel acquired the popular Trinidad Fruit Juice range of brands from CCGA. As p

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Thu, 08 Aug 2019 08:15:36 +0000 It’s time for Africa

WHETHER it's the burgeoning energy sector in Nigeria, the rapidly growing financial sector in Kenya or the highly prolific film industry of Nollywood, there are a number of investment opportunities for TT companies on the African continent. This was the view of Ministry of Trade permanent secretary Norris Herbert as he addressed the ministry and the Emancipation Support Committee's (ESC) 19th annual Trans-Atlantic Trade and Investment Symposium at the Hilton Trinidad and Conference Centre, St Ann's, on July 31. Herbert said the symposium has grown to become a valuable platform for expanding business and fostering trade linkages between TT, Africa and the African diaspora. "The Government is cognisant that more meaningful engagement is required if either party is to benefit from these arrangements." Government is currently involved in the African, Caribbean and Pacific Group of States (ACP)-European Union (EU) partnership agreement that will replace the ACP-EU Cotonou agreement when it expires in February 2020. "While this partnership agreement will foster ACP relations with the European Union, it will also serve as a framework for building partnerships with African countries, while gradually integrating and improving relations among ACP states."

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Thu, 08 Aug 2019 08:15:36 +0000 Nestle taps into fruit, veggie juices

THE FRUIT and veggie juice market has untapped potential waiting to be unlocked, Nestlé Anglo-Dutch Caribbean’s market head, Patricio Torres, believes. Just last month, Nestle launched a new line of fruit and vegetable juices, Nutri-Go energy shake, at its Valsayn factory. And under the Orchard brand, Nestle has had a longstanding tradition of providing quality fruit juices. "Four months ago, we were also celebrating 14 new flavours in Orchard and we continue with many good surprises," he said. This sort of innovation, Torres explained, is important because in the current economic situation it is not easy to grow the business, to meet consumer expectations. Where other companies are all the time trying to surprise consumers, "Nestle has to as a market leader keep our historical role.” This role is not simply about selling more products than its competitors but also being at the forefront of consumer trends and develop new products to satisfy those tastes. [caption id="attachment_780048" align="alignnone" width="1024"] Patricio Torres (second from left), Nestlé head of market in the Anglo Dutch Car

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Thu, 08 Aug 2019 08:15:36 +0000 Business Day Editorial: The road to Africa

Given this country’s rich and diverse relationship with the African continent, it’s surprising that there’s not more investment taking place between us. For too long, Africa has been considered the Dark Continent, a colonial backwater plagued by disease, famine, war and economic strife. But now, it is emerging as one of the biggest opportunities for trade and investment in the world. Ghana, for example, with a growth rate for 2019 projected to be 8.8 per cent – nearly four times TT’s – has been declared by the International Monetary Fund to be the fastest growing economy in the world this year. Its neighbour, Cote d’Ivoire is predicted to have growth this year of 7.5 per cent and Ethiopia should grow by 7.7 per cent. Other countries, like Nigeria and South Africa, the first and third biggest economies on the continent, don’t have projections as exponential as Ghana, but they are expected to grow 2.1 per cent and 1.2 per cent, respectively. The barriers to entry for TT businesses are also fairly surmountable – as former British colonies the Caribbean and several African nations share similar systems of government and language. Culturally, Caribbean food, folklore, music, dance and even speech are heavily influe

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Thu, 08 Aug 2019 08:11:36 +0000 Why wait hours to see a doctor?

kmmpub@gmail.com What if just a few hours meant the difference between life and death? Walk into a hospital or clinic waiting room, and you will soon find out. A report commissioned by the CEO of one of our health authorities showed that each morning found “an average of 20 over-flow patients…awaiting beds.” Waiting times for operations, clinic appointments or specialist treatment are measured in “months to years.” Reports take “weeks, months, or years.” Emergency room waiting times were “unpredictable” but were as long as 12 hours (in Canada only a quarter of patients wait as long as four hours). We already know this. Fifty-two per cent of patient complaints were about waiting times. In the information age, 14 per cent still complained that their patient files were lost. Dr Mandrakar Bahall, a lecturer at both UWI’s medical and business schools, puts it squarely: “National health indicators have shown no significant improvement.” This has been the case through successive administrations and billions of dollars. [caption id="attachment_780036" a

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Wed, 07 Aug 2019 14:54:19 +0000 Economists and businessmen are worried about debt pace of DR

The country’s consolidated public debt amounts to US $ 44,508.3 million They understand that the country must address the issue in the context of a fiscal pact   Economists Rafael Espinal and Antonio Ciriaco expressed concern about the pace of indebtedness that the Dominican Republic is carrying, which presents an increase of more US $ 5.6 billion in the last year, according to data on the consolidated public debt recorded by the Directorate General of Credit Public. Likewise, the president of the National Council of Private Enterprise (CONEP), Pedro Brache, expressed concern about the trend that the country’s public debt has been having.  “The CONEP has always advocated that the country determine what its adequate levels of debt are. Entrepreneurs are concerned about its growth trend. We need to determine […]

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Wed, 07 Aug 2019 14:15:48 +0000 Haitian Times News Roundup – August 07

Haiti The AGD recorded a record 4.5 billion gourdes in July 2019 The General Customs Administration AGD collected nearly 4.5...

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Wed, 07 Aug 2019 12:37:03 +0000 Value of Bahamas govt registered stock on BISX at $3.5 billion

The Bahamas International Securities Exchange (BISX) yesterday revealed the value of the more than 200 tranches of Bahamas government registered stock (BGRS) it has now listed at $3.5 billion. BISX Chief Executive Officer Keith Davies said the listing of the BGRS on BISX would provide […] The post Value of Bahamas govt registered stock on BISX at $3.5 billion appeared first on

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Tue, 06 Aug 2019 06:49:59 +0000 ‘Don’t stop house-to-house registration’

…AG tells court over 110,000 registered, close to a billion spent Attorney General Basil Williams has asked the High Court to allow the Guyana Elections Commission (GECOM) to complete the House-to-House Registration before General and Regional Elections are held. “I am respectfully submitting that GECOM should be allowed to complete its national registration because it

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Mon, 05 Aug 2019 11:48:43 +0000 Dominican Govt. income jumps 10.3% to US$6.5B in first half

Santo Domingo.- For the January-June period of 2019, Government income was RD$333.6 billion (US$6.5 billion), including donations, a 10.3% jump (RD$31.1 billion) compared to the same period the previous year, and 97.6% of the estimate. The data are in the progress report on the macroeconomic and fiscal projections 2020, by the Finance Ministry’s Budget Directorate (Digepres). The document notes that the revenue is 48.4% of the annual amount approved in the State Budget for 2019. Current income was RD$333.2. billion, while capital income and donations were RD$134.9 billion and RD$285.6 billion, respectively.

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Mon, 05 Aug 2019 06:12:57 +0000 GuySuCo diversification delayed – Jordan - …as gov’t seeks to reallocate funds from $30B bond

Diversification plans for the Guyana Sugar Corporation (GuySuCo) have been delayed as the government seeks approval to reallocate funds from a $30 billion bond as some priorities have changed.  

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Sun, 04 Aug 2019 00:22:59 -0500 Exxon profits slide with natural gas prices weak

Exxon Mobil brought in US$69 billion in revenue in the second quarter, down from last year’s US$73.5 billion. Some of the benefits of rising crude prices, up 22 per cent this year, were offset by natural gas prices, which have fallen almost 24 per...

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Sat, 03 Aug 2019 06:01:43 +0000 Guyana will lose bundle as Exxon, partners not paying taxes

Dear Editor,    Guyana still has to contend with the phenomenon of our Government’s signing away billions of dollars in income taxes to some of the world’s wealthiest corporations, and agreeing to foot their income tax bill for them.  

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Fri, 02 Aug 2019 12:52:20 +0000 Government collects revenues of RD $ 3.1 billion in tourist taxes

IN THE FIRST THREE MONTHS OF THE YEAR, ACCORDING TO THE CENTRAL BANK The Dominican Republic received RD $ 3,128,373,203 in tax revenues related to tourism in the first three months of the year, according to statistics from the Central Bank. In January, they totaled RD $ 996,314,851; February RD $ 1,076,854,994 and RD $ 1,055,203,358 in March, that is to say, that there was a decrease in March compared to February. These figures come from taxes on the departure of passengers abroad through airports and ports and also by land and from tourist card fees. A total of RD $ 2,127,998,716 was obtained for total passenger departure taxes in the first quarter of the year. Of this figure, the departure of passengers abroad through airports and ports allowed the collection of RD $ 2,038,901,173 […]

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Fri, 02 Aug 2019 00:12:19 -0500 Venezuela migrants propel billion-dollar delivery app

Around the world, immigrants are flocking to digital platforms like Uber, Doordash or Rappi for freelance work, because they offer a quick chance to earn cash in places where newcomers struggle to find regular jobs. But the gig economy can also be...

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Fri, 02 Aug 2019 00:24:18 -0500 BMW profits drop on higher costs, spending for new tech

Luxury automaker BMW said Thursday that net profit fell 29 per cent to €1.48 billion (US$1.63 billion) in the second quarter from a year earlier, as profits were reduced by higher spending on revamping factories and on new technologies such as...

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