News & Views2025-02-04T10:19:27-04:00

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    Local News

    Bmobile, Neptune Communications Partner On Connectivity

    Business Handshake - 123RF

    Bmobile Business and Neptune Communications have partnered in a collaboration they say will strengthen business continuity, disaster recovery, and ‘Always On’ connectivity across Trinidad and Tobago. ‘With the increasing need for reliable and redundant con-bmobile, nectivity, particularly in remote and disaster- prone regions, bmobile business’ collaboration with Neptune Communications represents a pivotal step in ensuring uninterrupted service for private sector and government agencies alike.

    Caribbean Airlines Introduces Gift Cards

    CAL- Trinidad Express

    Caribbean Airlines says that as part of its vision of becoming a ‘lifestyle brand’ rather than just a transportation provider, it will introduce gift cards. According to the airline, these Caribbean Airlines Gift Cards will allow customers to share the gift of travel with friends and family

    NEL Records An Operating Profit Of $45.5M

    Business News - unsplash.com

    National Enterprises Limited (NEL) recorded an operating profit of $45.5 million for the first quarter ended December 31, 2024, compared to $54.8 million for the corresponding period in the previous year.

    Agostini’s Is Now Agostini

    Agostini - Trinidad Guardian

    Agostini’s Ltd has officially changed its name to Agostini Ltd following a meeting of its shareholders. The group made an announcement yesterday, in which it also revealed a new logo and brand identity, inclusive of name changes to companies across the three main sectors of its operations— consumer products, pharmaceutical and healthcare, and energy and industrial.

    $42M In Agri Grants In Three Years, Says Minister

    $42M In Agri Grants In Three Years, Says Minister - Trinidad Guardian

    Over $40 million in grants have been distributed to agricultural sector since Senator Kazim Hosein took over as Minister of Agriculture, Land and Fisheries just under three years ago. The minister stated this as he addressed day two of the Trinidad and Tobago Chamber of Commerce’s conference entitled CATALYST Propelling SMEs for Success in 2025.

    Lower Taxes Equal Greater Investment

    Business News - Usplash.com

    To attract international investment, the layer of taxes that energy companies are faced with needs to be addressed. This was the observation by Touchstone Exploration’s president and CEO Paul Baay, as he spoke to the Business Guardian at the Energy Conference this week at the Hyatt Regency.

    US$12M Operating Profit For CAL

    Caribbean Airlines Plane

    Caribbean Airlines has recorded an operating profit for 2024 of US$12.1 million, excluding debt service, Finance Minister Colm Imbert said yesterday. Speaking at the airline’s Welcome Home to Love and Loyalty celebration event at Queen’s Hall, Port of Spain, he said: ‘In 2023, we witnessed a remarkable turnaround in the performance of Caribbean Airlines, moving from an operating loss of US$36.7 million in 2022 to an operating profit of US$24.7 million, excluding debt service.

    Massy Holdings Borrows US$150M From IDB Invest

    Massy Limited Building

    Massy Holdings Ltd yesterday announced a plan to take a US$150 million loan from the Inter-American Investment Corporation (IDB Invest). In a notice to the Trinidad and Tobago Stock Exchange, Massy Holdings said its board of directors has approved a long term financing package among the company, its wholly owned subsidiary, Massy Integrated Retail Ltd and IDB Invest.

    LJ Williams Reports Revenue Of $129.7M

    Newspapers - Unsplash.com

    Group sales for the nine months ending December 31st, 2024 amounted to $129.7 million and a profit before tax of $3.145 million, versus $138.9 million and $4.537 million for the prior period. The Food & Allied Division sales were similar to the prior period, but with improved profitability, in spite of shipping delays and port issues that affected the timely delivery of our containers during the Christmas period.

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    Regional News

    Guyana: Actively Exploring New Ferry Services For Essequibo

    President, Dr Irfaan Ali addressing Region Two residents on Wednesday - Guyana Chronicle

    In a significant move to improve transportation and support economic growth, President, Dr Irfaan Ali on Wednesday announced that the government is actively exploring the introduction of two new ferries—one for the Essequibo Coast and another to serve the North-West District. 

    Jamaica: UDC Seeks Investors For Major Tourism Projects In St Ann

    Green Grotto Caves, a 69.241-acre attraction in Discovery Bay, is the latest site earmarked for private investment. - jamaica Observer

    The Urban Development Corporation (UDC) is actively seeking investors to spearhead the development of several tourism projects in St Ann, including Green Grotto Caves, Pearly Beach, and Dunn’s River Falls. The corporation’s latest round of tenders aligns with a broader push to modernise Jamaica’s tourism offerings while expanding revenue streams for one of the country’s key economic sectors.

    DDL Expands Ageing Capacity With New Barrel Warehouse

    DDL expands ageing capacity with new barrel warehouse - Guyana Chronicle

    Demerara Distillers Limited (DDL), producers of the world renowned Demerara Rums, has significantly upgraded its ageing capacity with the construction of a new barrel ageing warehouse, Warehouse N, at its Plantation Diamond, East Bank Demerara facility. According to a press release, designed to accommodate 30,000 barrels, the new warehouse brings DDL’s total ageing and storage capacity to 130,000 barrels.

    CIBC Caribbean Ends Asset Sales

    CIBC - 123RF

    CIBC Caribbean has announced the successful transfer of its assets in St Maarten to Orco Bank NV on February 7, 2025. In a news release on Wednesday, the publicly listed bank, which operates as CIBC First- Caribbean in the Dutch Caribbean, said both sides have reported a smooth transition with former CIBC FirstCaribbean clients now conducting transactions seamlessly at Orco Bank NV locations.

    ExxonMobil To Boost Guyana Oil, Gas Output

    Oil Drums - 123RF

    President of ExxonMobil Guyana Alistair Routledge said yesterday the oil and gas company which is operating the Stabroek Block is moving towards extracting at least one billion cubic feet of natural gas daily in addition to its 250,000 barrels of crude oil daily from the Longtail project.

    Guyana’s Investments To Build Resilient Food Production Chain ‘Not Isolated’

    Agriculture Plot - 123RF

    To create a sustainable and resilient food production chain, the government of Guyana is investing heavily in areas like agro-processing, hydroponics, and cutting-edge agricultural technologies. And according to the country’s President, Dr. Irfaan Ali, these investments are not isolated but are a part of a broader strategy to safeguard the country against global food shortages and shocks.

    Port Congestion Prompts Urgent Measures

    Port congestion prompts urgent measures - Barbados Today

    Facing a severe congestion crisis, the Bridgetown Port and Customs announced urgent measures on Tuesday to alleviate the worsening situation. Hundreds of unclaimed vehicles and a backlog of cargo have pushed the port to its limits, with an additional 842 vehicles expected to arrive this week. 

    Dominica: New OECS,CARICOM Ambassador Urges Tackling Shared Challenges

    Dominica: New OECS,CARICOM ambassador - Loopnews

    Key policy areas dominating Dominica’s agenda, including climate change mitigation, renewable energy, food security, housing, education and healthcare are high on the agenda for the island’s new Ambassador to the OECS and CARICOM.

    GK’s Next Chapter: Coy, James, And Whittingham To Lead Strategic Shift

    GraceKennedy Logo

    GraceKennedy Limited (GK) is reshaping its leadership structure, placing its entire food division—both domestic and international—under one leader for the first time. Effective February 14, 2025, Andrea Coy will take on the newly expanded role of CEO of GraceKennedy Foods, a move that signals a strategic shift in how the conglomerate manages one of its most critical business segments. Meanwhile, Steven Whittingham will take over as CEO of GraceKennedy Financial Group (GKFG) in August.

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    International News

    Moderna Posts Bigger Loss Than Expected As Vaccine Maker Scales Down Manufacturing

    Moderna Vaccine - Unsplash.com

    Moderna (MRNA) reported a bigger-than-expected quarterly loss on Friday, hit by a charge related to its efforts to scale down manufacturing amid weakening demand for its COVID-19 vaccine. The company’s shares were down about 4% in pre-market trading.

    Airbnb Shares Jump On Strong Quarterly Results, Expansion Plans

     Figurines are seen in front of displayed Airbnb logo - reuters - Yahoo

    Airbnb shares rose as much as 13.3% in premarket trade on Friday after the vacation home rentals company beat Wall Street estimates for fourth-quarter results, boosted by strong international travel demand.

    Starbucks To Open 500 Stores In Middle East In Next Five Years

    Starbucks Cup - unsplash.com

    Starbucks Corp. plans to expand in the Middle East, adding hundreds of new stores, as the global coffee chain seeks to bounce back in the region after facing challenging conditions and consumer boycotts last year. 

    US Futures Edge Lower After Days Of Tariff Drama

    Bloomberg jeans - 123RF

    US equity futures edged lower at the end of a week dominated by headlines on trade tariffs and Ukraine peace efforts, a slew of earnings and more evidence of stubborn inflation.

    Japan’s Honda Posts 5% Rise In Q3 Profit

    Honda - Unsplash.com

    Japan’s Honda Motor said on Thursday its third-quarter operating profit increased 5% from a year earlier, largely due to a strong performance of its motorcycle business and a weak yen, but missed analysts’ estimates.

    Cisco Shares Rise On Strong Demand For AI Gear As Trump Tariffs Weigh

    Cisco - Unsplash.com

    Cisco Systems (CSCO) shares rose 6.4% in premarket trading on Thursday after the company raised its annual revenue forecast on robust demand for its cloud networking gear, while addressing any potential impact from the latest U.S. tariffs.

    Barclays Sets New Performance Targets As 2024 Pretax Profit Rises

    Barclays - Unsplash.com

    Barclays raised its 2025 performance targets on Thursday after reporting a better-than-expected 24% rise in annual pretax profit driven by investment banking income growth and strength in its domestic lending business.

    Deere Misses Revenue Estimates On Subdued Farm Equipment Demand

    John Deere - Unsplash.com

    Deere’s (DE) quarterly revenue slumped 35% and missed analysts’ expectations as more farmers switched to renting equipment due to weak incomes and high borrowing costs, sending its shares down nearly 4.5% in premarket trading on Thursday.

    US Futures Waver As Trump Signals New Tariffs

    Bloomberg Business - 123RF

    US equity futures wavered after President Donald Trump signaled he’s about to announce reciprocal tariffs on trading partners.

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    Reports

    Earnings News – January 2025

    Earning News

    US Federal Funds Target Rate – 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

    Trinidad and Tobago Local Equity Market Overview

    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

    Earnings News - Trinidad and Tobago

    Offshore Series Factsheets – December 2024

    Offshore Series Factsheets

    Pelagic Series Factsheets – December 2024

    Pelagic factsheets - Trinidad and Tobago

    Is Your Business Healthy?

    Is Your Business Healthy? - Entrepreneurship.com

    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.

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    7 Things You Need To Consider Before Expanding Your Business

    Business Expansion - Entrepreneur.com

    For any successful business, deciding when to start scaling is the most challenging time. Just as time cannot stand still, businesses must also keep moving, which means expanding when they are doing well. Put simply, a competitor will step in to fill the gap.

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    Legs Tingling After Exercise?

    Legs Tingling After Exercise? Here's What Your Body Is Trying To Tell You - Entrepreneur.com

    The tingle of your pre-workout kicking in is one thing, but feeling a tingling in your legs after a workout is another. It might seem concerning, but it’s not always a cause for alarm. As blood flow increases to your body during exercise, your muscles enlarge to accommodate it. Although this helps power you through the task at hand, those swollen muscles can impinge on nerves and veins, causing tingling in your legs after running or another form of exercise.

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