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Local News
TSTT Board Gets Cyberattack Report
Less than a week after Sean Roach resigned as chairman of the Telecommunications Services of Trinidad and Tobago (TSTT), the board received the long-awaited final report on the 2023 cyberattack against the majority State-owned company. Roach resigned as a director and chairman of the TSTT board, effective January 15, according to a material change notice filed with the T& T Securities and Exchange Commission.
Economists Want Sustainable Solutions To Forex Shortages
Economists Dr Marlene Attzs and Dr Vaalmikki Arjoon have said that T&T’s current forex situation is unsustainable and there is need for examination of long-term effects and implementation of more sustainable solutions.
IDB Launches TechLab In T&T
Minister of Digital Transformation, Hassel Bacchus, is reiterating the importance of innovation and digital transformation which are critical elements in economic development.
T&T Chamber Survey On Forex Distribution
The Trinidad and Tobago Chamber of Industry and Commerce says that despite a US$100 million injection per month by the Central Bank into the banking system, 62.2% of businesses face delays in paying suppliers and 59.5% report reduced profitability due to foreign exchange shortages.
Ministry Extends Companies Amnesty To Month End
The Office of the Attorney General and Ministry of Legal Affairs has advised that the Companies Amnesty has been extended until January 31. This is to give companies ‘one final opportunity to comply with the Companies Act, in terms of filing their annual returns and returns of beneficial ownership, among other things, before the provisions of the Act are strictly enforced,’ the AG’s Office said in a media release yesterday. The order was effected from January 13.
SuperPharm Purchases Massy In-Store Pharmacies For $22M
SuperPharm paid $22 million to acquire the in-store pharmacy assets of Massy Stores, which it has since rebranded as MPharmacy. In a newspaper advertisement on August 14, Massy Stores announced that it had signed an agreement with SuperPharm Ltd for the sale of its in-store pharmacy assets. However, both parties remained tightlipped about the consideration paid for the transaction.
T&T, Brazil To Partner On Air Transport
Trinidad and Tobago and Brazil share common values, including the promotion of peace, mutual understanding and cooperation, Brazilian Minister of Foreign Affairs Mauro Vieira said yesterday. Vieira made the statement yesterday during a ceremony commemorating the 60th anniversary of diplomatic relations between the two countries.
Agostini’s To Change It’s Name
Shareholders of Agostini’s Ltd will be asked to change the name of the company at its annual general meeting to be held on February 13. The shareholders are going “to consider and if thought fit, approve a change to the company’s name” to Agostini Ltd. The motion to change the company’s name is the only item of special business to be considered at the annual general meeting, which is scheduled to be held at the Hyatt Regency in Port-of-Spain.
Forex Challenges Close Another Business
The ongoing foreign exchange shortage has led to the downsizing of clothing store chain K Squared Fashions. In a notice posted to the company’s social media pages, the business announced that on January 31, it will be closing its Aboutique and Gulf City Mall branches as a result of scarce foreign exchange.
Regional News
Jamaica Plans $9B TransJam Divestment
The Government of Jamaica (GOJ) is finalising plans to divest its remaining 20 per cent stake in TransJamaican Highway Limited (TJH), a move expected to further broaden public ownership of critical infrastructure assets. Prime Minister Andrew Holness, speaking recently, confirmed that the sale will be executed through a public offer on Jamaica Stock Exchange (JSE), following the requisite approvals obtained last year.
British Virgin Islands Surpasses One Million Tourists In 2024
The British Virgin Islands (BVI) is reporting that it has crossed a historic milestone, welcoming over one million tourists. The government reported that data from the Central Statistics Office revealed 1,092,139 visitors came to the island in 2024, marking a 9.8% increase from the 994,896 visitors in 2023.
Afreximbank Delighted To Support Caricom Region
The Egypt-based African Export- Import Bank (Afreximbank) yesterday reiterated its commitment to supporting the Caricom region to realise the full potential of its natural resources.
Guyana: $51B Earmarked For Gas-To-Energy
The government has allocated $51 billion in the 2025 national budget for the historic gas-to-energy (GTE) project at Wales, West Bank Demerara, which is set to be launched later this year.
Guyana Mining Sector To Benefit From More Industry
The Government of Guyana, through the Guyana Mining School and Technical Training Centre (GMSTCI), recently signed with GMIN Ventures Guyana Inc. (GMIN) a Memorandum of Understanding (MoU) to establish an Industrial Attachment Programme. This initiative, according to a press release from the Ministry of Natural Resources, is designed to prepare industry-ready professionals for Guyana’s expanding mining sector.
Belize To Boost Sugar Exports To Caricom
The Belize government says it is strengthening efforts to boost sugar exports to markets in the Caribbean Community (Caricom) and that the Minister of State for Foreign Trade Dr Osmond Martinez has held a ‘pivotal’ meeting with stakeholders in the industry.
Jamaica: Chinese Automakers Reshape Market
A surge in Chinese car brands is transforming Jamaica’s automotive market. While Japanese, European, and American manufacturers have long dominated the market, and still dominate, the emergence of brands such as BYD, GWM (Haval), BAIC, Jetour, MG, and Chang’an is reshaping consumer preferences. Chinese brands are disrupting the market with competitive pricing, cutting edge technology, and features that rival or surpass those of established brands.
B’Dos Govt ‘Silent’ On Minimum Wage Reassessment
Trade unions in Barbados on Monday made an urgent call for an increase in the minimum wage as many citizens struggle with the rising cost of living. The Congress of Trade Unions and Staff Associations of Barbados (CTUSAB) warned that without immediate action, poverty rates could surge, pushing more people to the breadline.
Guyana Government Explains New Tax Measures
Senior Minister in the Office of the President with Responsibility for Finance and the Public Service Dr Ashni K Singh says since presenting the Guy$1.38 trillion (one Guyana dollar=US$0.004 cents) national budget to Parliament last Friday, he has received ‘several requests’ seeking further explanation regarding the personal income tax measures.
International News
Rolls-Royce Strikes £9Bn Nuclear Submarine Deal
A £9bn deal for nuclear submarine reactors has been agreed between the Ministry of Defence and Rolls-Royce – the biggest ever between the two. Defence Secretary John Healey announced the agreement on Friday during a visit to the firm’s nuclear reactor production facility in Derby. The eight-year contract, called Unity, is designed to make the design, manufacture and support services for reactors more efficient and environmentally friendly.
Global Stocks Rise As Trump Softens Tariff Stance
Global stocks are ending the week at record highs after President Donald Trump appeared to soften his approach toward tariffs on China. The yen strengthened after the Bank of Japan raised interest rates.
GE Aerospace Forecasts Upbeat 2025 Profit On Strong Demand For Parts, Services
GE Aerospace (GE) on Thursday forecast a stronger full-year profit as demand for its high-margin parts and services got a boost from airlines flying older jets to sidestep a persistent shortage of new aircraft.
Elevance Health: Q4 Earnings Snapshot
Elevance Health Inc. (ELV) on Thursday reported fourth-quarter net income of $418 million. The Indianapolis-based company said it had net income of $1.81 per share. Earnings, adjusted for one-time gains and costs, came to $3.84 per share.
Hyundai Motor Nears GM Tie-Up Deal; Sees Revenue Growth Slowing In 2025
South Korea’s Hyundai Motor said on Thursday it is in talks with General Motors to supply commercial electric vehicles to its U.S. peer, as it expects sales growth to halve this year due to softening demand.
Stocks Stall Near Record Highs As Tech Retreats
Stocks took a breather on Thursday after gains since President Donald Trump’s inauguration had taken European and US benchmarks close to record highs.
Oracle Shares Surge After Trump Unveils $500B AI Plan
Oracle shares jumped nearly 9% in premarket trading on Wednesday, after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank. The joint venture, called Stargate, plans to invest $500 billion to help the United States stay ahead of China and other rivals in the global AI race, Trump said at the White House on Tuesday.
Netflix Posts Record Quarter Thanks To Sports, ‘Squid Game’
Netflix Inc. closed 2024 with its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game. The company added 18.9 million customers in the fourth quarter, according to a shareholder letter Tuesday. That was more than double what Wall Street expected and brought global subscribers at Netflix to more than 300 million.
Stocks March Higher With Netflix Poised for Record
Europe’s stock benchmark was on track for a record high and US equity futures gained as optimism over more artificial intelligence spending under Donald Trump offset uncertainties over looming tariffs.
Reports
4 Lessons I Gained From Mentorship That Elevated My Startup Journey
When I first started my business, the word ‘mentor’ felt abstract to me. I thought successful entrepreneurs inspire us with their stories and achieve everything through their knowledge, determination — and maybe a bit of luck. But the real experience turned out to be way more complex. Behind every great success is someone who helped guide the way, asked the right questions and pointed them in the right direction.
Why Scaling My Business Took A Mindset Shift — And Not More Hours
When you start a business, you’re all in. This is true for many entrepreneurs — and I know it was for me. I committed myself to making every decision on every project. I dealt with every problem and handled all the nitty-gritty.
How Long Does It Take To See Results From Rowing?
Rowing is a calorie-burning cardio workout that can quickly strengthen your entire body. Rowing machine before-and-after photos often show improvement in many muscle groups. But rowing is particularly beneficial for your back, shoulders, abs and arms.
How Small Businesses Can Leverage AI Without Breaking The Bank
Artificial intelligence (AI) is no longer an exclusive tool for large corporations; small businesses can now harness its power to enhance operations, improve customer experiences and drive growth without significant financial investment. By adopting cost-effective AI strategies, small businesses can streamline processes, maximize resources and remain competitive in today’s market.
Scale Your Business And Your Culture
Workplace culture is at a crossroads. Companies are grappling with the dual challenge of sustaining growth while supporting their employees amid rising concerns over burnout and mental health — what some have dubbed “The Great Exhaustion.”
Why Prioritizing Connections Will Be The Superpower That Drives Your Success
If you could wish for any superpower for your company, what would it be? You might first think of a strong leadership team, a leading technology or product, or, of course, endless profit. All of these factors are important, but what about your organization’s employees and culture?
5 Hard Truths About Entrepreneurship
Entrepreneurship is often glamorized as a thrilling, independent journey where success is just a great idea away. However, the reality is much more complex and demanding. Many aspiring entrepreneurs start their journey without understanding the harsh truths that await them. These are not the lessons you typically hear in business school, but they are essential for anyone looking to build a successful business.
Earnings News: November 2024
How To Eat 100 Grams Of Protein A Day
Whether you’re looking to load up more plates on the bench press, pressing for a faster 5K or just aiming to be able to get up and down from the sofa as you age, protein is essential to your goals.