Scotiabank records half a billion in income

Sco­tia­bank Trinidad and To­ba­go has so far record­ed an in­come af­ter tax­a­tion of over half a bil­lion dol­lars for the fi­nan­cial year 2019, the com­pa­ny’s unau­dit­ed fi­nan­cial re­sults have stat­ed.

“Year to date in­come af­ter tax­a­tion was $524 mil­lion, an in­crease of $40 mil­lion or eight per cent over the same pe­ri­od last year.

Agostini Ltd subsidiary sends home 33 workers

Vem­bev, the com­pa­ny that dis­trib­utes Pep­si and oth­er bev­er­ages Ocean Spray, has been closed down and 33 em­ploy­ees sent home.

The de­ci­sion to close the com­pa­ny and get rid of 40 per cent of staff was made al­though its par­ent com­pa­ny, Agos­ti­ni Lim­it­ed, earned in ex­cess of $120 mil­lion in prof­its for the first nine months of the fis­cal year.

Heritage appoints Executive Management Team

The Heritage Petroleum Board of Directors has appointed an Executive Leadership Team (ELT) to provide additional managerial support for Chief Executive Officer Mike Wylie while he receives treatment in the US after undergoing surgery.

A statement by the company says that Wylie, who has been away for the past two months, will continue to direct the operations remotely with an ELT on the ground that will report to the Heritage Board of Directors.

Chamber remains unhappy with Industrial Court

The In­dus­tri­al Court’s re­cent de­ci­sion to dis­con­tin­ue its in­quiry in­to al­le­ga­tions of con­tempt of court raised by the Joint Trade Union Move­ment (JTUM) against the Trinidad and To­ba­go Cham­ber of In­dus­try and Com­merce (TTCIC) has raised more ques­tions than it has pro­vid­ed an­swers ac­cord­ing to a me­dia re­lease yes­ter­day from the T&T Cham­ber of In­dus­try and Com­merce.

The me­dia re­lease said while the Cham­ber is re­lieved that “good sense has pre­vailed” in this mat­ter, a num­ber of “burn­ing is­sues” re­main un­re­solved.

Digicel raises rates

Digicel has raised its prices on some of its offerings effective August 15, 2019. In a response to questions by Guardian Media, the company said: “...due to higher programming costs, it became necessary to adjust the prices on some of the packages, which only directly affects around five per cent of our customer base.”

The telecommunications company continued: “Obtaining maximum value is important to our customers, and the company, therefore, works diligently to keep costs under control.”