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Local News
Business Leaders Call For Transparency
Business chamber heads acknowledged Prime Minister Stuart Young’s ongoing foreign exchange talks with Finance Minister Vishnu Dhanpaul and executive management within the banking sector but called for greater transparency from financial institutions. On Tuesday, Young and Dhanpaul met with members of the banking sector at Whitehall. A follow-up meeting will be held in two weeks.
Angostura Report $1.06B In Revenue
Angostura Holdings Limited is pleased to report another strong financial performance for the fiscal year ended December 31, 2024. For the third consecutive year, we have surpassed the billion-dollar revenue milestone, achieving total revenue of $1.06 billion, a 1% increase over the prior fiscal year. This continued growth underscores our resilience, strategic focus and ability to thrive in a dynamic market landscape
BpTT’s Ginger Gets Green Light
BpTT announced yesterday that it made the final investment decision (FID) to proceed with the Ginger gas development, while achieving exploration success at its Frangipani well. In a news release yesterday, bpTT said taking FID on Ginger and discovering gas at Frangipani are the latest demonstrations of upstream activity this year for the company, which is in line with its strategy to grow its oil and gas business.
PM: Rubio Vows US Won’t Harm T&T
‘We are not going to harm Trinidad and Tobago.’ This is the commitment that United States Secretary of State Marco Rubio gave to Prime Minister Stuart Young during their bilateral engagement on Wednesday in Kingston, Jamaica. Young, reporting to the nation on his talks with Rubio during a post-Cabinet news conference at Whitehall, Port of Spain, yesterday, said that during the meeting with Rubio, he went into ‘granular detail’ on the importance to Trinidad and Tobago and the region of the Dragon gas deal with Venezuela and what it entailed.
Dragon Gas Deal Not Dead
For now, the Dragon Gas deal is not dead. In fact, Government is still moving at full speed to fulfil the energy arrangement with Venezuela. This was confirmed by Prime Minister Stuart Young at yesterday’s post-Cabinet media briefing at Whitehall, Port-of-Spain, a day after he met with United States Secretary of State Marco Rubio for bilateral talks on energy, security and other issues in Jamaica on Wednesday.
Plipdeco Reports A Before Tax Profit Of $61M
For the year ended December 31st, 2024, the Corporation generated $393M in revenue, which represented an increase of $26.9M (7%) when compared to that of 2023. This increase resulted from the combined effect of a tariff increase and an increase in throughput of 5% from our containerised cargo operations and 3% from our general cargo operations.
NFM Posts A Profit Surge, Warns Of 2025 Uncertainty
Despite geopolitical tensions, evolving trade policies, and climate change impacts, National Flour Mills Ltd (NFM) recorded a total comprehensive income of $51.7 million for the year ended December 31, 2024, representing a 57% increase from the previous year, according to its chairman, Ashmeer Mohammed.
National E-Commerce Strategy For 2025- 2030 Unveiled
Trinidad and Tobago’s National E-Commerce Strategy 2025-2030 was officially launched yesterday, with Trade Minister Paula Gopee- Scoon calling it a catalyst for entrepreneurship and the growth of small and medium- sized enterprises. The launch took place at the Hilton Trinidad and Conference Centre yesterday.
Energy Analysts: Time To Focus On Calypso Gas
While the full details of the meeting between Prime Minister Stuart Young and the United States Secretary of State Marco Rubio in Jamaica yesterday is not yet, known former Energy Minister, Kevin Ramnarine, says uncertainty still looms over this country’s gas deals with Venezuela. Both Young and Rubio said after the meeting that it was excellent.
Regional News
Guyana Banking System Gets US$35M Central Bank Injection
The Bank of Guyana (BoG) on Thursday injected US$35 million into the banking system, People’s Progressive Party (PPP) General Secretary, Bharrat Jagdeo disclosed. Jagdeo told reporters this during his weekly press conference at Freedom House. He said: “We only address mismatch between flow of currency and demand for currency. The timing to smooth out flows, we intervene…like today, the Central Bank intervened and put US$35M into the banking system.”
Rubio To Register Caribbean’s Concerns Of Fines On Chinese Vessels
United States Secretary of State, Marco Rubio has committed to registering the Caribbean’s concern over his nation’s plans to impose fines on Chinese-made ships.
Venezuela Foreign Minister Condemns US Interference In Region
Venezuelan Foreign Affairs Minister Yván Gil has condemned US interference in the Petrocaribe energy alliance, following United States Secretary of State, Marco Rubio’s ongoing tour of Jamaica, Guyana, and Suriname this week. In a statement published on Telegram on Wednesday, Gil stated that Washington promotes an energy model rooted in “extortion and submission,” contrasting it with Venezuela’s approach of “sovereign energy cooperation free from blackmail or foreign military bases.”
Guyana: New Four-Lane Highway For Essequibo Coast Soon
Before the end of 2025, the government of Guyana will propose a design for the reconstruction of a new four-lane highway along the Essequibo Coast, President Dr. Irfaan Ali has said. Addressing scores of residents in region two (Pomeroon-Supenaam) at an event on Wednesday, President Ali noted that the new throughway will complement the rapid growth of the region.
Jamaica: US Promises Equipment, Technology, Other Assistance For Anti-Crime Fight
The United States’ top diplomat, Secretary of State Marco Rubio, has announced major plans to help improve the security situation in Jamaica. Since the start of this year Jamaica has recorded a 34 per cent decline in murders compared to the corresponding period last year, with a 19 per cent decline in all major crimes, which Rubio noted and described as impressive.
CDB Unveils Ambitious ‘Rebirth’ Vision
With a renewed focus on delivering transformation across all processes, the Caribbean Development Bank (CDB) recently unveiled its ‘rebirth’ with a robust agenda to address the financial needs of the region, further supporting sustainable development.
Staatsolie Raises US$515.8M In New Bond
The state-owned Maatschappij Suriname NV said it has raised US$515.8 million from a new bond issued on Sunday and that the amount is US$211.7 million more than the US$304.1 million targeted. In total, the Staatsolie Bond 20252033 raised US$468.745.200 million and €43.49 million.
SKN: Bring New Era Of Solidarity Between Africa, Caribbean
ST Kitts-Nevis Prime Minister Dr Terrance Drew has called for a new era of solidarity, investment and innovation between Africa and the Caribbean. Addressing the opening of the three-day Aquarian Consult Afri-Caribbean Investment Summit (AACIS 2025).
Jamaica: Workers Call For $20,000 Min Wage
The Government’s recent announcement of a $1,000 increase in the national minimum wage — from $15,000 to $16,000 per 40-hour workweek effective June 1, 2025 — has sparked mixed reactions from workers, economists, and business leaders.
International News
Toyota’s Global Output Rises For 2nd Month
Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year.
China’s BYD Signs Car Parts Distribution Agreement In Italy
Chinese electric automaker BYD said on Friday it signed a car parts distribution deal with Italian company Intergea, as part of its strategy to boost its presence in a key European market. Chinese auto producers are looking to boost sales in Europe while their domestic market slows down, counting on their advantage on EV technology, and setting up manufacturing and assembly plants in the region.
India Offers US Tariff Cuts On Farm Imports
India has offered tariff cuts on imports of U.S. farm products like almonds and cranberries as a further concession to the United States, two government sources said, hoping to avert President Donald Trump’s reciprocal tariffs set for next week.
Xi Woos Global Business Leaders
Chinese President Xi Jinping called on global business leaders to push back against protectionism, seeking to take advantage of growing backlash to rising US tariffs to promote his country as a reliable partner.
S&P 500 Futures Slip In Run-Up To Inflation Data
US stock futures edged lower and gold topped a fresh record as investors looked ahead to the Federal Reserve’s preferred inflation metric and continued to worry about the lasting economic damage of the trade war.
China’s Xi To Meet With BMW, Mercedes, Qualcomm CEOs
The global heads of German automakers BMW and Mercedes, (MBGAF) as well as chip giant Qualcomm are among foreign business leaders due to meet with Chinese President Xi Jinping this week, two sources said on Thursday.
Bank Of America Mortgage Applications Jumped 80% In Q1
Bank of America (BAC) saw an 80% jump in mortgage applications between January and March, its executive of consumer lending said, as buyers were tempted by increasing home inventory and lower long-term bond yield.
H&M Profit Disappoints On Steep Discounts And Strong Krona
Hennes & Mauritz AB posted weaker-than-expected profit in its first quarter, hit by the strengthening of the Swedish krona and an increased discounting of its clothes. Shares tumbled.
Stocks Fall As Automakers Reel From Trump Tariffs
Stocks fell as the US pushed ahead with harsh tariffs on automakers and threatened more sweeping trade levies, reinforcing investor concern about the hit to global economic growth.
Reports
US Federal Funds Target Rate – March 2025
On March 19, 2025, the Federal Open Market Committee (FOMC) announced its decision to keep the target range for the federal funds rate at 4.25% to 4.50%. However, officials at the central bank still anticipate cutting the fed funds rate 0.5%, to a range of 3.75% to 4%, by the end of 2025.
Earnings News – February 2025
In February, Massy Holdings (MASSY) grew, helped by a 6% uplift in Revenue and a 2% rise in Profit After Tax. This increase was driven by the robust performance of the Group’s various portfolios and was accompanied by an improvement in its cash position.
Earnings News – January 2025
US Federal Funds Target Rate – January 2025
On January 29th, 2025, the decision was made by the Federal Open Market Committee (FOMC) to maintain its target range for the federal funds rate at 4.25%-4.50%. This interest rate decision was informed by the Fed’s dual mandate to foster full employment and keep prices low and stable.
Local Equity Market Overview – 4Q 2024
Locally, indicators of economic activity were somewhat positive, with growth in the non-energy sector partially offsetting declines in energy sector, which faced challenges due to constraints in natural gas availability.
Earnings News – December 2024
Offshore Series Factsheets – December 2024
Pelagic Series Factsheets – December 2024
Is Your Business Healthy?
With the turn of the calendar comes important personal health checks — the kind of things you do annually to make sure you’re staying on top of your well-being. It may be tempting to avoid these checkups. I mean, “If it ain’t broke, don’t fix it,” right? Yet, we don’t always know we’re “broken” until we look more closely. And we can’t get healthier if we don’t get checkups, set goals and work toward them.