Canadian-based fertilizer company, Nutrien, has signaled its intention to further its investment in Trinidad and Tobago.
The commitment came via a meeting of the company's executives and prime minister Dr Keith Rowley at the Diplomatic Centre in St Ann's on Tuesday.
Over the next six months, the company will execute a multimillion-dollar plant upgrade as it continues to position itself as a major player in the local hydrocarbon industry.
Despite T&T being given a downgrade from Rating Agency Standard and Poor's, Prime Minister Dr Keith Rowley is assuring the country that its business and its future are in good hands.
In a message posted o his Facebook page, Dr Rowley admitted that while T&T is still rated with an investment grade, the country is still in serious difficulties.
The downgrade is as a result of S&P’s projection of a reduction in gas production.
The Tobago House of Assembly (THA) wants $4.72 billion to run Tobago's affairs for the financial year 2019/2020.
Of that sum, the THA is projected to collect $212.9 million in taxes and non-taxes in Tobago.
This from Finance and the Economy Secretary Joel Jack as he presented the draft estimates for revenue and expenditure at the THA's 27th Plenary Sitting held in the Assembly Chamber, Jerningham Street, Scarborough on Monday, June 24.
A study by Dr Terrence Farrell has found that the sustainability of the downstream petrochemical sector is under threat because of uncompetitive natural gas prices.
Dr Farrell this morning presented his year-long study of the country’s downstream sector.
The economist said both natural gas shortage and price has led to a reduction in methanol and ammonia production and a loss of jobs in the sector.
He predicted that unless there is a change in policy the sector will get to a point of no return and there will be a collapse of the Point Lisa’s Industrial Estate.
Following decades of economic stagnation, the largest English-speaking country in Caricom has witnessed an economic turnaround, with growing levels foreign exchange, four years on uninterrupted growth and unemployment now at its lowest in the country's recent history. Jamaica's economy has roared back and it was done on the back of a stringent IMF programme.
In an exclusive interview with the Business Guardian's Hema Ramkisson the country's Finance Minister explained the secret to a real turnaround.
The Central Bank Governor has estimated that it will cost the state around $620 million dollars a year to support the Venezuelans who have migrated to this country.
Dr Alvin Hilaire said at first he was skeptical about that figure but then said after looking at the impact on Colombia, that 600-odd million-dollar figure seemed plausible.
Colombia has so far taken in almost 1.2 million Venezuelan migrants and refugees. This has cost that country around 0.4% of its GDP.
Finance Minister, Colm Imbert says that billions of dollars are being held up in the Tax Appeal Board.
Speaking to members of the media Friday morning, Minister Imbert expressed his hope that the three-month tax amnesty, starting from mid-June, would push persons to withdraw their matters from the Tax Appeal Board and pay their taxes.
The Minister explained that the government wants a clean slate when the Trinidad and Tobago Revenue Authority (TTRA) comes on board hence, its decision to implement a tax amnesty.
The fate of T&T’s continued economic growth could be partially hinged on the success of BPTT and Atlantic finding a solution to the shortfall in gas supply that is projected in 2020/2021, as failure could hurt the country’s revenue stream.
Asked about the worst-case scenario following BPTT’s recent disappointing drilling at two infill wells yesterday, Energy Chamber CEO Dr Thackwray Driver told Guardian Media that it could lead to Atlantic’s Train 1 being mothballed.
President of the T&T Automotive Dealers Association Visham Babwah says increased vehicle sales is not an indication of a robust economy but highlights the failures of public transportation.
He was responding to statements from Minister of Finance Colm Imbert that vehicle sales were averaging over 25,000 per year and the total number of vehicles registered in T&T was well over the one million mark.