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Local News
Grell New MD At ANSA Merchant Bank
ANSA Merchant Bank Ltd (AMBL) has appointed Stephen Grell as its new managing director, effective July 1. He succeeds Ian De Souza who assumed the interim role last January.
Another Massy Motors Executive Resigns
Massy Holdings Ltd has announced that Marc Rostant has resigned as group executive vice-president and portfolio chief executive officer of its Motors and Machines portfolio, effective July 8, 2025.
CAL Boosts Flights To Dominica
Caribbean Airlines (CAL) has announced that effective August 15, 2025, customers would have nonstop service between Dominica and Puerto Rico, up to three times weekly. Additionally, the airline has increased non-stop flights between Dominica and Trinidad as part of its enhanced commercial schedule.
TIC Outgrowing Centre Of Excellence
Since it was launched in 1999, the T&T Manufacturers’ Association’s (TTMA) Trade and Investment Convention (TIC) has generated US$1 billion as of 2024 in trade. This was revealed by TTMA’s president Dale Parson during a sit-down interview on Tuesday. Starting with 15 booths and with only T&T companies, the TIC has evolved over the years, with 330 booths from 15 countries represented as sellers and 27 countries represented as buyers.
Beware Of ‘ Finfluencers’
As financial advice on social media becomes increasingly common, the Trinidad and Tobago Securities and Exchange Commission (TTSEC) is urging the public to be cautious of so-called ‘finfluencers’. These are social media personalities who promote investment content without being registered professionals.
Penal/Debe Chairman To Lead Guaracara Refinery Board
Chairman of the Penal/Debe Regional Corporation Gowtam Maharaj has been appointed the chairman of the board of the State-owned Guaracara Refinery Company Ltd. Maharaj’s appointment comes as Energy Minister Dr Roodal Moonilal announced that the board will oversee the planned restart of the Petrotrin refinery.
Unilever Loses Ice Cream Business
Unilever Caribbean Ltd announced yesterday that its board of directors took a decision on July 1, 2025, to approve the sale and transfer of the local ice cream business. This followed a decision by the Unilever Group to announce its intention to separate its global ice cream business, which includes, among others, the ice cream brands Ben & Jerry’s, Breyers, Klondike, Magnum and Wall’s.
WASA Claims $39M Savings Under New Executive Structure
The Water and Sewerage Authority (WASA) says its newly revised executive structure will slash senior management costs by $39.1 million a year. According to WASA, the now-abandoned proposal for 2025 would have created 112 senior positions, including 37 executives and 75 department heads.
Touchstone Reports Successful Drilling Of Cascadura-5 Well
Touchstone Exploration Inc has announced the successful drilling of its Cascadura-5 development well (Cas-5), located on the Ortoire block onshore in Trinidad and Tobago. The company holds an 80% operating working interest in the well, with Heritage Petroleum Company Ltd retaining the remaining 20%.
Regional News
Jamaica Removed From EU High-Risk Anti-Money Laundering List
Jamaica and Barbados were on Wednesday removed from the European Union (EU) list of ‘high-risk’ third countries with deficiencies in their anti-money laundering and countering financing of terrorism regimes, a day after Prime Minister Dr Andrew Holness expressed Caricom’s concern that an appeal for the delisting had been lagging for a month.
Hess Pulls Out Of Suriname Oil Block
Suriname’s state-owned oil and energy company, Staatsolie, has confirmed that the US-based oil and gas company, Hess, has decided to relinquish its interest in Block 59 offshore Suriname.
Full Free Movement By October 1
Four Caribbean countries- Barbados, Belize, St Vincent and the Grenadines, and Dominica-have signalled their intention to allow freedom of movement as of October 1, according to an article published by the Jamaica Observer yesterday. The article also stated that Jamaica’s Prime Minister Dr Andrew Holness has indicated that his country is working towards joining them soon.
Guyana: New Enmore Hospital Seen As Turning Point In Regional Healthcare
Last week saw Guyana’s President, Dr Irfaan Ali commission yet another state-of-the-art medical facility, equipped with 75 in-patient beds, a modern accident and emergency unit operating on 24-hour basis and several operating theatres for emergency and elective surgeries.
Jamaica: Circular Economy Transforms Waste To Wealth
As vibrant colours continue to illuminate various sectors of the global economy, another quiet yet powerful transformation is currently underway — the rise of the circular economy. Anchored on the fundamental principles of eliminating waste and pollution, circulating products and materials, and regenerating nature — this economy is increasingly being recognised as a critical tool for sustainable development.
Digicel Shuts Down Loop News; Plans SportsMax Closure
An undisclosed number of employees have been left jobless following the immediate shutdown of Loop News and the planned closure of SportsMax. However, Antonia Graham, head of group communications at Digicel Group, says the company’s human resources team is actively supporting affected staff through the transition.
Caribbean Region Must Strengthen Institutions, Ties With Global Partners
For the Caribbean region to be competitive in the emerging world and achieve its goals, the region must strengthen its institutions and its ties with global partners. This is according to the newly appointed chairman of the Caribbean Community (CARICOM), Prime Minister of Jamaica Andrew Holness, who made this known during his address at the opening of the 49th Regular meeting of the Conference of Heads of Government in Montego Bay.
‘Vigorous, Urgent Need’ To Strengthen Regional Collaboration, Trade
PRESIDENT Dr. Irfaan Ali has underscored the urgent need to boost intra-regional trade as a driver of economic stability and growth within the Caribbean Community (CARICOM). In a commemoratory message to celebrate CARICOM Day, the president called on member states to harness the region’s collective potential, noting that stronger economic linkages will fortify the region’s resilience amid rising external pressures.
Gonsalves Urges Caribbean To Emulate Use Of Advanced Forensic Scientific Tools
St Vincent and the Grenadines Prime Minister Dr Ralph Gonsalves has praised Jamaica for leading the Caribbean in the use of advanced forensic scientific tools to combat crime, saying other countries in the region should follow its example.
International News
Conagra Forecasts Downbeat Annual Profit On Tariff Hit
Slim Jim snack maker Conagra Brands forecast annual profit below expectations on Thursday, anticipating higher costs of ingredients due to U.S. tariffs.
US Bank Profits To Climb On Stronger Trading, Investment Banking
Major U.S. banks are expected to report stronger profits next week, driven by buoyant trading and a modest rebound in investment banking. When JPMorgan Chase, Citigroup and Wells Fargo kick off second-quarter earnings on Tuesday, investors will focus on their outlooks at a time when economic uncertainty over U.S. tariff policies remains high.
Delta Air Expects Profit Boost Betting On Capacity, Cost Controls
Delta Air Lines said on Thursday its bookings have stabilized, prompting it to forecast a brighter profit outlook for coming quarters, even as pricing pressures continue to weigh on industry margins.
Wall St Futures Ease After Nvidia’s $4 Trillion Run; Data, Trade Talks In Focus
U.S. stock index futures were marginally lower on Thursday, cooling after Nvidia’s sprint to a $4 trillion valuation supported markets the day before, while investors turn their attention to economic data and trade talks.
Meta Invests $3.5B In World’s Largest Eye-Wear Maker
Meta Platforms Inc (META). bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant’s commitment to the fast-growing smart glasses industry, according to people familiar with the matter.
Merck Spends $10B For Verona
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. With the acquisition, Merck gets access to Verona Pharma’s chronic obstructive pulmonary disease medication Ohtuvayre. The Food and Drug Administration approved Ohtuvayre in June 2024 for the maintenance treatment of COPD in adults.
Wall Street Futures Edge Up Amid Tariff Talks, Trade Turbulence
U.S. stock index futures edged up on Wednesday as investors assessed President Donald Trump’s aggressive tariff moves and kept a close watch on negotiations with global trade partners.
Honeywell To Review Alternatives For Two Businesses Ahead Of 2026 Split
Honeywell said on Tuesday it would evaluate strategic alternatives for two of its businesses that serve the transportation and logistics industries as the industrial giant prepares for its three-way split.
IBM Rolls Out New Chips And Servers, Aims For Simplified AI
International Business Machines (IBM) on Tuesday announced a new line of data center chips and servers that it says will be more power-efficient than rivals and will simplify the process of rolling out artificial intelligence in business operations.
Reports
Agostini-Prestige Holdings / Take Over Bid
Agostini Holdings has made an offer to acquire 100% of Prestige Holdings’ issued and outstanding shares through a share swap.
Earnings News – May 2025
In May, Guardian Holdings Limited (GHL) led gains in the banking and financial sector, posting a 229% or TT$536 million increase in profit. This surge was primarily driven by a one-off gain from the sale of Thoma Exploitatie B.V.
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