Business

Muslim group asks government to hold hand on fast track implementation of new $100 note

Members of the Muslim community are calling on the government to hold their hand on a decision to fast track the implementation of the new $100 note.

They are concerned that the change will adversely affect Muslims who don't use the banking system as it is against their religious beliefs to accumulate interest.

"Many Muslims do not use the current banking system due to the Quranic prohibition of charging interest.

MHTL raises $1 billion

Methanol Hold­ings (Trinidad) Lim­it­ed (MHTL), a mem­ber of the Pro­man Group of Com­pa­nies, yes­ter­day an­nounced the com­ple­tion of a TT $1 bil­lion term fa­cil­i­ty. The term fa­cil­i­ty bears in­ter­est at a rate of 5.50 per cent per an­num for the first 18 months, a state­ment from the com­pa­ny said.

It added that the term fa­cil­i­ty has a tenure of three years and is un­se­cured with in­ter­est payable se­mi-an­nu­al­ly.

Lewis: “Need better business environment for real growth…”

The TTMA's Ryan Lewis says it's becoming more difficult to do and get business done in Trinidad and Tobago, and government needs to work towards creating a more enabling environment.

According to Ryan Lewis, increased taxes are hurting businesses, and this is combined with the reality that government's business-related processes and procedures are not as efficient as they should be.

The TTMA head is urging government to start doing what is required to create the enabling environment business needs to reignite the T&T economy.

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