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Local News
Perenco Finds Natural Gas In Onyx
Perenco T&T Limited has found natural gas following the successful drilling of the Onyx well. In a news release yesterday, the Anglo-French company said the drilling of the well and sidetrack in the eastern part of the Onyx field led to the find of significant columns of natural gas in two separate geological compartments.
ANSA Merchant Earns $114M
ANSA Merchant Bank Group has earned net operating income of $114 million in the first quarter to March 2025, 4.2 per cent lower than the prior year’s comparative $119 million. The company’s unaudited interim results for the quarter ended March 31, 2025 were posted yesterday on the T&T Stock Exchange.
ANSA McAL’s Revenue Rises 10%
In Q1 2025, the Group delivered strong top-line growth, with revenue increasing by 10% year-over-year to TT$1,808 million. Net cash flows from operating activities also increased significantly—by 81% to TT$244 million—underscoring the strong operational health of our business and our ability to generate cash efficiently.
NGL’s Profit Rises 4.3%
Trinidad and Tobago NGL Limited (“TTNGL”/ “the Company”) is pleased to report that for the first three months ended 31 March 2025, the Company recorded after tax profit of TT$31.8 million. This represented a stable TT$1.3 million or 4.3% improvement over the comparative period in 2024, when TT$30.5 million was recorded. Earnings per share for the quarter was TT$0.21, compared to TT$0.20 for the corresponding period in 2024, an increase of 5.0%.
Unilever Notes Growth In Both Revenue And Profit
Unilever Caribbean Limited (UCL) has achieved a Profit after tax for the first quarter 2025 of $16.2m when compared to $6m in the prior year. Revenue closed at $81.2m, representing an increase of $24m for the period compared to the prior year, but also includes significant one-off transactions relating to its new distribution model.
Tancoo Meets With CAF
Finance Minister Davendranath Tancoo met with representatives from the Development Bank of Latin America (CAF) in an introductory meeting on Monday. According to a release from the ministry, the meeting was held to discuss some of the ongoing initiatives CAF had begun with the government previously as well as formally highlight the bank’s role as T&T’s principal multilateral development partner.
CAL Must Rethink US$-Only Online Sales
Majority state-owned Caribbean Airlines (CAL) has defended its foreign currency-based payment model, saying nearly 70 per cent of its expenses—such as aircraft leases, fuel, taxes and maintenance—are billed in foreign currency. The airline insists this “economic reality” requires a balanced approach to maintain its financial sustainability.
TOSL Engineering Acquires ANSA Technologies
TOSL Engineering Ltd has acquired ANSA Technologies Ltd in a move hailed as the creation of a powerhouse in the energy sector. ‘TOSL Engineering Ltd (TOSL), a leading integrated services company headquartered in Trinidad and Tobago, has announced its acquisition of ANSA Technologies Ltd, a well-established provider of electrical, instrumentation, and automation solutions,’ a release issued last moth stated.
Businessmen Blame New Ministry For Delay In Clearing Containers At Port
Some business owners are raising concerns over mounting costs and prolonged delays, as containers consigned to a non-gazetted Government ministry remain stuck at the Port of Port-of-Spain. Port sources said containers addressed to the Ministry of National Security remain stranded, unable to clear Customs, following the ministry’s recent rebranding as the Ministry of Homeland Security, a name that had not yet been officially gazetted up to yesterday.
Regional News
Guyana Forest Can Stimulate Economic Opportunities
President Dr Irfaan Ali has called on forest-rich nations to reframe the global narrative around forests and look at them as both environmental assets and economic powerhouses that are capable of transforming livelihoods.
B’Dos: Construction Boom Sparks Work Permit Surge
A construction boom and acute shortages of skilled workers have fuelled a sharp increase in work permit applications, with authorities processing nearly 30 per cent more requests this year, a senior immigration official has revealed.
Sagicor Records Core Earnings Of US$29.7M
Sagicor Financial Company on Tuesday reported core earnings of US$29.7 million in its first quarter ended March 31, 2025, which was 120 per cent more than the US$13.5 million the group earned in the same period in 2024.
NCB Financial Group Priorities Resilience Amidst Heightened Volatility
NCB Financial Group Limited (NCBFG) is putting a greater emphasis on the strength and resilience of the financial conglomerate as heightened market volatility continues to impact financial firms.
Barita Seeks Acquisitions To Boost Growth
Barita Investments Limited said it remains in active pursuit of acquisition targets, signalling that it is undeterred by the recent failure of its parent company Cornerstone Financial Holdings to complete the purchase of a further 30 per cent stake in Bermuda-based Clarien Group.
New Demerara Harbour Bridge 76.91% Complete
Traffic woes and the daily rush to beat the Demerara Harbour Bridge’s closure will soon be a thing of the past for residents of Region Three, as the new river bridge is on course for completion in August. According to a weekly progress report presented by the Ministry of Public Works, the physical development of the bridge structure currently stands at 76.91 per cent.
PURC And Rocky Mountain Institute Sign MOU
The Public Utilities Regulatory Commission (PURC) and the Rocky Mountain Institute (RMI) have entered a landmark partnership aiding the advancement of Grenada’s sustainable energy goals. Supported by the Government of Grenada and the Grenada Electricity Services Ltd. (Grenlec), this transformative initiative aims to strengthen energy independence across Grenada, Carriacou, and Petite Martinique.
Montego Bay To Host Landmark Caribbean Investment Forum In July
This July, Montego Bay will host a transformative event that seeks to reintroduce the Caribbean to the world as a credible and competitive investment destination. The Caribbean Investment Forum (CIF) 2025, officially launched this month in Kingston, is being positioned as the region’s premier platform for connecting international capital with high-potential, investment-ready opportunities across the Caribbean.
Guyana, China To Boost Trade Ties
China and Guyana yesterday agreed to boost trade and investment ties as well as promote their diplomatic relations. The Xinhua News Agency, the official state news agency of the People’s Republic of China, reported yesterday that Foreign Minister Wang Yi held talks with his Guyanese counterpart, Hugh Todd, here and affirmed Beijing’s support for Guyana’s independent development path and called for deeper cooperation through high-quality Belt and Road cooperation.
International News
Walmart Warns Of Higher Prices, Withholds Second-Quarter Profit Guidance
Walmart U.S. comparable sales surpassed expectations in the first quarter, but the retailing giant known for affordable goods said the high costs of tariffs may mean it cannot keep from passing on higher prices to shoppers in the near-future.
Deere Trims Annual Profit Forecast, Posts Lower Q2 Results On Softer Demand
Deere & Co cut the lower end of its annual profit forecast and reported a fall in second-quarter results on Thursday due to economic uncertainty and softer demand for its tractors from farmers opting to rent machines instead.
Alibaba Misses Revenue Estimates As It Fights For China E-Commerce Market Dominance
Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the company works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.
Oil Extends Drop As Trump Says US Is Closer To Deal With Iran
Oil fell for a second day after President Donald Trump said the US and Iran are getting closer to a deal on the country’s nuclear program.
US Stock Futures Slide As Tariff Rally Eases, UnitedHealth Slips
U.S. stock index futures slipped on Thursday as euphoria from the U.S.-China tariff truce tapered off, while UnitedHealth was pressured after a report of a DoJ investigation into the health insurer. Markets are also keenly awaiting commentary from Federal Reserve Chair Jerome Powell, who is scheduled to speak later in the day.
American Eagle Tumbles After Pulling Financial Guidance For 2025
Shares of American Eagle Outfitters (AEO) are tumbling before Wednesday’s opening bell after the retailer withdrew its financial outlook for the year citing “macro uncertainty” and said it would write down $75 million in spring and summer merchandise.
China’s Tencent Quarterly Revenue Up 13% On AI, Gaming Boost
Tencent Holdings, China’s biggest technology company by market capitalisation, posted a 13% rise in first-quarter revenue on Wednesday, boosted by growth in gaming and AI-enhanced advertising.
Sony Sees $700M Tariff Hit On Underwhelming Outlook
Sony Group Corp. offered an underwhelming forecast for the year ahead, with the burden of US tariffs wiping out expectations for an increase in operating profit.
Gold Edges Lower As Traders Assess Trade Talks, Fed Outlook
Gold edged lower for the second time in three days as traders assess softer-than-expected US inflation figures for April and cooling trade tensions with China.
Reports
US Federal Funds Target Rate – May 2025
On May 07, 2025, the Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 4.25% to 4.50%. The annual inflation rate in the US eased for a second consecutive month to 2.4% in March 2025, the lowest since September, down from 2.8% in February.
Offshore Series Factsheets – March 2025
Pelagic Series Factsheets – March 2025
Earnings News – March 2025
In March, Scotiabank Trinidad and Tobago Limited (SBTT) reported a TT$2 million or 1% increase in f irst-quarter profit due to strong growth in total revenue, which can be attributed to higher interest earnings from the group’s interest-bearing assets. Joining SBTT, ANSA Merchant Bank (AMBL) delivered a positive performance, recording a rise in operating income and profit for the year, despite lower before tax profits, and thanks to a reduction in taxation expenses.
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.