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Updated: 2 hours 45 min ago

Scotiabank shares jump $0.29

12 hours 32 min ago

Overall Market activity resulted from trading in 16 securities of which ten advanced, one declined and five traded firm.

Trading activity on the First Tier Market registered a volume of 136,770 shares crossing the floor of the Exchange valued at $1,904,045.53.

Angostura Holdings Ltd was the volume leader with 52,920 shares changing hands for a value of $829,059.75, followed by Sagicor Financial Corporation Ltd with a volume of 46,848 shares being traded for $374,784.

JMMB Group Ltd contributed 10,000 shares with a value of $18,000, while TTNGL Ltd added 7,015 shares valued at $185,997.50.

Scotiabank Trinidad & Tobago Ltd registered the day’s largest gain, increasing $0.29 to end the day at $60.40. Conversely, Angostura Holdings Ltd suffered the day’s sole decline, falling $0.18 to end the day at $15.67.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 3,550 shares valued at $74,550.00. Clico Investment Fund remained at $21.00. Bourse Brazil Latin Fund remained at $8.10.

Calypso Macro Index Fund remained at $21.40. Fortress Caribbean Property Fund Ltd SCC – Development Fund remained at $0.67. Fortress Caribbean Property Fund Ltd SCC – Value Fund remained at $1.70.

Praetorian Property Mutual Fund remained at $3.05.

The Second Tier Market did not witness any activity. Mora Ven Holdings Ltd remained at $14.49.

Ambassador welcomes reactivation of flights to Havana

Mon, 01/15/2018 - 21:59

Cuban Ambassador Guillermo Vázquez Moreno has welcomed the reactivation of flights between Port-of-Spain/Havana. He said the direct flight to Cuba is key to increasing the bilateral commercial relations between the countries.

The ambassador’s comments come after Finance Minister Colm Imbert had made the announcement at last Thursday’s post-Cabinet news conference that there would be two flights per week and those flights would also be available to individuals from Caricom-member States.

The size of the Cuban market is more than 11 million people with Spanish as the main language. Not only known for its cigars, the country is also known for its education system, Sporting fraternity and health care system among many other sectors.

In a statement to the T&T Guardian, the ambassador said the business community from both countries can save time and money now that the route has been reactivated.

“The flight introduces a comparative advantage that other markets do not have. We are confident that this step is a significant boost to our commercial and economic relationships.”

Already the announcement is being embraced by the T&T Manufacturers’ Association (TTMA) president Christopher Alcazar who said opening the route is an important step to increasing trade between the two countries.

He noted, however, that there is need to remove, “all other trading obstacles where Cuba is concerned. For years the TTMA has been working to get our products into this market, there are many challenges such as extended credit facilities to be offered.”

Speaking further about doing business in Cuba, Alcazar said penetration of a protected market is “difficult,” because there are limited buyers in Cuba, just the Government.

“In March 2017, the TTMA embarked on a trade mission to Cuba with a view of establishing business relationships between T&T and Cuba, exploring investment opportunities and fostering ties with key trade and economic organisations and agencies.”

The TTMA signed an MoU with the Cuba Chamber of Commerce during that mission, and now look forward to increased opportunities in trade, investment and tourism as a result of the opening of the Cuba route.

Roget: Ploy to sell Petrotrin to T&T’s one per cent

Mon, 01/15/2018 - 21:59

Believing that there is a ploy to sell Petrotrin to T&T’s “one per cent,” the Oilfields Workers’ Trade Union (OWTU) is intensifying its mobilisation of members to march against Government.

As the OWTU president general Ancel Roget marshalled troops at Petrotrin’s Forest Reserve, Fyzabad yesterday, he decried the ruling’s People’s National Movement and declared that he had no respect for Prime Minister Dr Keith Rowley and “his band of misfits.” It was like a gospel that the OWTU was sharing as they did in Point Fortin and Pointe-a-Pierre last week.

Roget told workers that the Government and Board of Directors at Petrotrin were incapable of returning the company to profitability. He also maintained that the State-owned company’s lease operatorship and farmout programme was geared at enriching financiers of political parties.

Acknowledging the criticism that the OWTU has receive for its plan to “shut the place down,” Roget said that their fight should be supported by the public as the success of Petrotrin will help to improve their lives.

“When Petrotrin is made viable and successful, Petrotrin can contribute enormously to the national coffers and the running of the economy, so that we will have more money going to the social safety net and dealing with the issues of health and education so that it can improve the quality of life for the citizens.

“If you give Petrotrin to those people who pump fake oil, who bill Petrotrin for oil that they don’t produce and who even, when they produce, sell Petrotrin back their own oil, that money goes into private bank accounts, not into the accounts of the State. When the State loses, the average citizen lose,” Roget said.

He said when Rowley spoke about Petrotrin’s debt to the Government last week, no mention was made that the company contributed approximately $50 billion between 2010 and 2015. As he rallied support in the wake of the company’s plan to restructure, he told workers that it was not their poor decision making and spending on investments such of the failed World Gas to Liquids plant that led to the company’s downfall.

Oil businesses’ revenue goes down when prices and production decreases. However, Roget said Petrotrin has control over its production, but the incompetence of its leadership was preventing its success.

“This is a fight to shed all our PNM and UNC clothes and confront it as it is supposed to be confronted once and for all.”

Former minister Browne: Farrell’s resignation instructive

Sat, 01/13/2018 - 00:11

The resignation of Dr Terrence Farrell as chairman of the Economic Development Advisory Board (EDAB) continued to generate debate yesterday, as Former Minister in the Ministry of Finance Mariano Browne said Farrell’s resignation sent a signal concerning decision making for the country, as well as Dr Hamid Ghany, director of the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES) at the UWI who said the resignation was based on Farrell’s professional standards which he wanted to maintain.

Farrell had tendered his resignation on Wednesday after being appointed chairman of the board in October 2015.

Speaking in an interview after a conference held at SALISES auditorium at the UWI, St Augustine which focused on the IMF’s Article IV consultations on T&T, Browne said that Farrell’s resignation is significant because, “it sends a signal, particularly, the reasons he gave. In other words, we are not making decisions and if we have made decisions, we are not implementing them. There must be something that we can learn from all of this, in terms of what we are doing moving forward.”

Critical of the Government, he said what was expected after Farrell resigned, was a “statement of intent highlighting where we are going, what we are doing, how we are addressing the situation.”

Browne questioned now that there is no statement of intent, “what are we (the citizens) to assume?” Brown predicted that it is now the end of the EDAB.

Overall, Browne said that commentators in T&T are not being listened to by the Government.

He suggested Finance Minister Colm Imbert’s role is to make changes in the way the systems run and not to gain favourites.

Ghany who also spoke in an interview, said Farrell had “reputational” issues attached to his resignation since he was leading the EDAB that was making recommendations, but the recommendations were either taking too long to be implemented or not implemented at all.

“Dr Farrell had some reputational issues attached to his resignation that he was leading an economic development advisory board that was making certain recommendations to the Government. He was not satisfied that their policy advice was being heeded, and therefore, rather than him continuing to make contradictory statements with the Government in the public domain, I think he decided that it would be better for him to get out of the way. Also, the issue of reputational risks to him personally, with him being associated with something that was not happening, I think he had to get out of the way.”

NCBJ extends closing date for GHL takeover bid

Fri, 01/12/2018 - 21:59

There has been an extension of the closing date for the purchase of Guardian Holdings Limited shares by Jamaican-based NCB Global holdings.

The closing date has been extended to February 2, 2018 according to a public notice in the media.

Last December, NCB Financial Group Limited announced its intention to acquire a majority stake in local insurance giant Guardian Holdings Limited (GHL).

The offer was made to acquire 74, 230,750 ordinary shares of GHL.

The notice said: “While the majority of the terms and conditions of the offeror have been satisfied or otherwise waived and the offeror has received the sign-off from most of the regulatory authorities in respect of the proposed acquisition, the Offeror has applied for and is waiting certain other regulatory approvals required to be obtained by it before it may take up and pay for any tendered offer shares.”

Given the extension, the notice said that this will allow GHL shareholders the opportunity to consider the above additional information and to ensure that the acquisition of the offered shares is in compliance with all applicable laws and to prevent the offer period and the offer expiring before all requisite approvals are obtained.

Last week, minority shareholder activist Peter Permell raised concerns about some of the conditions of the sale of shares from GHL to NCB Financial Group.

He said the offer that was made was for US$2.35 per share which works out to be around TT $15.60 but that this significantly undervalued the worth of GHL shares.

Angostura jumps $0.85

Fri, 01/12/2018 - 21:59

Overall Market activity resulted from trading in 14 securities of which 7 advanced, 2 declined and 5 traded firm.

Trading activity on the First Tier Market registered a volume of 375,089 shares crossing the floor of the Exchange valued at $5,733,133.95.

Guardian Holdings was the volume leader with 194,259 shares changing hands for a value of $3,294,551.68, followed by National Flour Mills with a volume of 73,529 shares being traded for $145,905.13.

TTNGL contributed 44,283 shares with a value of $1,165,983.54, while Angostura Holdings added 41,530 shares valued at $658,209.75.

Angostura Holdings registered the day's largest gain, increasing $0.85 to end the day at $15.85.

Conversely, Massy Holdings. registered the day's largest decline, falling $0.44 to close at $47.50.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 12,990 shares valued at $272,790.00.

Clico Investment Fund remained at $21.00.

US bank execs sing praises of new tax law as windfall looms

Fri, 01/12/2018 - 21:59

NEW YORK — Two of the nation's biggest banks — JPMorgan Chase and Wells Fargo — indicated Friday that they expect to see significant future benefits from the recently enacted GOP tax bill, through both lower taxes and increased business.

The comments came as the two companies reported their quarterly results, which were both heavily impacted by the change in tax laws, but in different ways.

JPMorgan Chase took a $2.4 billion charge tied to the tax bill, while Wells Fargo had a $3.35 billion benefit.

Bank executives and their lobbyists in Washington were big promoters of a corporate tax cuts.

Banks are among the highest-taxed industries, largely because they operate in the U.S., and have regularly paid effective tax rates of 30 percent or more.

JPMorgan CEO Jamie Dimon and other company executives for years said a lower tax rate would not only be good for JPMorgan, but ultimately good for the country as well.

"The modernization of the U. S. tax code is a significant step forward for the company and a big win for the economy," said Marianne Lake, JPMorgan Chase's chief financial officer, in a conference call with investors.

JPMorgan executives say they expect to pass along some of the benefits, currently in unnamed ways, to consumers, its employees and its shareholders.

The bank already raised its minimum wage to $15 an hour before the tax bill passed, but further wage increases could be on the table.

Wells Fargo announced shortly after the bill was passed it would raise its minimum wage to $15 an hour as well. Wells Fargo CEO Timothy Sloan said he estimates 70,000 employees at Wells Fargo will benefit during a conference call with investors. (AP)

Life Saving Hacks - Beyond Payday

Fri, 01/12/2018 - 21:59
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HSF now US $5.7B

Thu, 01/11/2018 - 23:37

The total net asset value of the Heritage and Stabilisation Fund (HSF) as at the end of September 2017 stands at US $5,762.5 million compared with US $5,619.3 million at the end of the previous quarter.

In its Quarterly Investment Report for July to September 2017 released by the Ministry of Finance on Wednesday, the investment portfolio was valued at US $5,762.3 million, while the remaining portion valued at approximately US $0.2 million, was held in cash to meet the day-to-day expenses that arise from the management of the Fund.

The HSF investment portfolio generated a return of 2.61 per cent during the third quarter of 2017, outperforming its SAA benchmark which gained 2.06 per cent.

The report said: “Approximately 84 per cent of the Composite Portfolio’s return was attributed to the performance of the equity mandates which contributed approximately 2.18 per cent of the total return while the fixed income portfolios added the remaining 0.43 per cent.”

The composition of the Fund, which is divided into US Core Domestic Equity, Non-US International Equities, Non-US Core International Equity, US Short Duration Fixed Income and longer duration US Core Domestic Fixed Income showed increases in all respective categories.

DOMA: Less control over forex distribution needed not more

Thu, 01/11/2018 - 21:59

[email protected]

The Downtown Owners and Merchants Association (Doma) is calling for changes to be made to the existing system for disbursing US currency.

The business group said in a statement yesterday that they noted with "some apprehension" comments made by the Minister of Finance that government may soon have to exert greater control of foreign exchange distribution.

Doma added that it shared similar sentiments with former chairman of the Economic Development Advisory Board Terrence Farrell that "there is need for less control of foreign exchange distribution instead of more control."

The association stated that a fixed exchange rate would lead to a loss of confidence in the TT-dollar.

Doma's comments come on the heels of TTMA stating that there should be consultation if changes are to be made to the system for disbursing US curency.

Doma said: "it is tragically predictable that the current mechanism of foreign exchange management with a fixed exchange rate as it's main feature is going to lead to a loss of confidence in the TT-dollar and a shortage of availability, as more and more holders of foreign exchange seek a more realistic value for their hard currency assets."

Substantiating its point, Doma said the shortage of US currency is having an impact on prices of certain goods.

The business group said it does not advocate "drastic adjustments" given the prospect of rising unemployment, but insisted that, "managed adjustments are needed."

The group suggested that the Government should consider "listening to alternative arguments to the exchange allocation policy in use at this time" stating that the "current model will create an economic predicament that will have dire consequences in the not too distant future."

JMMB Investments: Moderate economic improvement for T&T in 2018

Thu, 01/11/2018 - 21:59

Raphael John-Lall

JMMB Investments says that it expects a “moderate improvement” in T&T's economy in 2018.

“All in all, we anticipate a moderate improvement in economic growth (1 percent - 2 percent) over the medium-term, largely due to increases in hydrocarbon prices and higher output in the petroleum sector. Assuming the Government maintains its current stance in the foreign currency market, depreciatory pressures are also likely to persist throughout 2018” the investment firm said in a report entitled "The Year In Review, 2018 Outlook"

JMMB's budgeted revenue for 2018 is predicated on an oil price of US$52.00 per barrel and a gas price of US$2.75 per MMBtu.

“Assuming the current energy price level is maintained/increased over the upcoming year, we can expect to see greater revenue inflows from the energy sector, further encouraged by the anticipated boost in local energy production volumes. Although energy prices are not as high as those in 2008 (oil: US$145/barrel; gas: US$13/MMBtu), the rebound in prices as well as higher volumes from the Juniper and Angelin Gas Projects, are welcomed changes for the economy.”

With regards to overall market activity, JMMB said it remains “generally optimistic” but still “cautious.”

“We believe that local companies will still face headwinds from muted investor sentiment. However, there are few shining stars within the local landscape. Cross Listed activity is also expected to continue to outperform due to the macro economic developments in Jamaica, but the pace of appreciation is expected to slow. Equity investors are reminded to remain calm during any stock volatility and stay relentlessly focused on your financial goals. We reiterate that holding a portfolio with a longer time horizon with assets that carry sound fundamentals may be a good strategy for withstanding short to medium term volatility.”

The JMMB report said 2017 saw the rise and fall of many investment securities, but crypto currencies have, by far, captured the attention of most investors.

“Beginning the year at $969.93, the most popular crypto currency, Bitcoin, traded as high as $19,185.26, generating record breaking gains of roughly 1,878 percent for investors. However, as anticipated, this climb in value was unsustainable and fell approximately 34 percent to $12,609.12 at the time of this report.”

JMMB trades $0.05 higher

Thu, 01/11/2018 - 21:59

Overall Market activity resulted from trading in 12 securities of which 3 advanced, 2 declined and 7 traded firm.

Trading activity on the First Tier Market registered a volume of 78,351 shares crossing the floor of the Exchange valued at $1,841,946.28.

TTNGL was the volume leader with 55,490 shares changing hands for a value of $1,443,823.80, followed by Sagicor Financial Corporation with a volume of 8,502 shares being traded for $67,932.50.

Unilever Caribbean contributed 4,150 shares with a value of $116,199.60, while First Citizens Bank added 3,800 shares valued at $121,600.00.

JMMB Group registered the day's largest gain, increasing $0.05 to end the day at $1.75.

Conversely, Massy Holdings registered the day's largest decline, falling $0.08 to close at $47.94.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 5,500 shares valued at $115,500.00.

Clico Investment Fund remained at $21.00.

TTMA head: Consultation needed before any changes to forex distribution

Wed, 01/10/2018 - 21:59

One business group is suggesting that consultation should occur before any changes are made to the system for distributing US currency.

This comes after Finance Minister Colm Imbert said that the government was considering exercising tighter control over the distribution of foreign exchange

Christopher Alcazar, President, T&T Manufacturers' Association (TTMA) in emailed responses said, "while the TTMA is pleased to see focus to ensure our scarce foreign exchange is made available to those entities which can generate a greater income of foreign exchange for the country, TTMA is very cautious in its approach and maintains its call for disclosure, transparency and private sector consultation before implementing any change from the current system."

Quoting from budget statement 2018, Alcazar noted that Imbert had stated that foreign exchange would be made available to exporters through the Eximbank and that manufacturers, "have made several attempts to gain a clear perspective on how the system can work while to date we are still patiently awaiting consultation and feedback to our proposals."

Alcazar said he was hopeful that there would be prompt action on the Eximbank initiative since, "this signals the government's serious intent and commitment to economic recovery and changes the conversation from forex consumption to forex generation."

Unilever adds $0.95

Wed, 01/10/2018 - 21:59

Overall Market activity resulted from trading in 14 securities of which 4 advanced, 3 declined and 7 traded firm.

Trading activity on the First Tier Market registered a volume of 149,696 shares crossing the floor of the Exchange valued at $1,747,048.49.

FirstCaribbean International Bank was the volume leader with 40,000 shares changing hands for a value of $371,985.80, followed by TTNGL with a volume of 35,892 shares being traded for $933,268.55.

GraceKennedy contributed 32,008 shares with a value of $99,224.80, while L.J. Williams $0.10 A added 29,727 shares valued at $6,539.94.

Unilever Caribbean registered the day's largest gain, increasing $0.95 to end the day at $28.00.

Conversely, Guardian Holdings registered the day's largest decline, falling $0.15 to close at $16.40.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 25,600 shares valued at $537,600.00.

Clico Investment Fund remained at $21.00

Sangre Grande Business Chamber to meet with RBC officials

Tue, 01/09/2018 - 21:59

Members of the Sangre Grande Chamber of Commerce are scheduled to meet with RBC Royal Bank T&T managing director Darryl White and other bank officials tomorrow at 9 am to discuss the closure of the bank's Sangre Grande branch and its impact on businesses in the area.

The meeting is expected to take place at the Sinanan Building.

A release issued by the Chamber yesterday announcing the meeting stated: "Do you do business with RBC? Have your loans, overdrafts, deposits been affected by RBC's sudden movement out of Sangre Grande? Can these charges be waived? Let's find out"

Since the closure of the branch on December 29th, 2017 members of the Sangre Grande business community have voiced their concerns about having to travel to Arima, the location of the nearest bank branch, to conduct business with the bank.

The bank merged its Sangre Grande branch with its Arima operations at the start of January citing an inability to work out a mutually acceptable lease arrangement at its Sangre Grande location.

The Chamber described the bank's decision as "rash and irresponsible", stating that insufficient notice was given to customers in the area.

The bank refuted claims by the Chamber that there was no communication with the business community about the closure of its Sangre Grande branch, stating that it began communicating with stakeholders on December 30, 2017 about the planned closure.

Finance Minister: Govt exploring greater forex control

Tue, 01/09/2018 - 21:59

Finance Minister Colm Imbert says that given the persistent tightness in the foreign exchange market, the government is considering exercising tighter control over the distrubution of foreign exchange.

Speaking on the Morning Brew television show on CNC3 yesterday Imbert said: "We (the government) are looking at whether we should get involved in a greater level of control of the foreign exchange distribution system. I'm trending towards more control of it rather than less to make sure that people who need it actually get it"

Probed about the way foreign exchange was currently being distributed, the Finance Minister stated that the abandonment of exchange controls in the early nineties meant that more discretion was given to commercial banks in terms of how they dispensed foreign exchange to their customers.

"We now have what is called an Honour System so the banks are supposed to give preference to trade and manufacturing."

Questioned about whether the bank were in fact doing this the Finance Minister replied: "No they are not"

"They (the banks) are obviously giving forex to their largest clients which only makes sense because if you're a bank and you want to make profits and you have an instrument available to you which is foreign exchange you're going to make available to the person who gives you the most income." Imbert said.

The minister said that one could not just "jump in" to the forex market without due consideration for the prevailing circumstances facing both banks and their clients.

"You can't just jump in and interfere because what you will be doing is reintroducing exchange controls, but there is a very strong argument for reintroducing some form of exchange controls by more tightly defining the instructions that are given to the banks"

"Right now the instructions are very broad. We can increase the list of items that they should give preference to and we can make the definition tighter" the Finance minister said

TTNGL slips $0.19

Tue, 01/09/2018 - 21:59

Overall Market activity resulted from trading in 8 securities of which 1 advanced, 3 declined and 4 traded firm.

Trading activity on the First Tier Market registered a volume of 55,206 shares crossing the floor of the Exchange valued at $1,238,864.41.

TTNGL was the volume leader with 32,859 shares changing hands for a value of $854,704.64, followed by NCB Financial Group with a volume of 7,060 shares being traded for $47,655.00.

National Enterprises Limited contributed 5,525 shares with a value of $54,089.75, while First Citizens Bank added 3,632 shares valued at $116,241.10.

Unilever Caribbean enjoyed the day's sole price increase, climbing $0.05 to end the day at $27.05.

Conversely, TTNGL registered the day's largest decline, falling $0.19 to close at $26.01.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 52,611 shares valued at $1,104,831.00.

Clico Investment Fund remained at $21.00.

Samsung lays out future path at CES in Las Vegas

Tue, 01/09/2018 - 21:59

At the 2018 Consumer Electronics Show (CES) in Las Vegas, Samsung Electronics outlined its vision and strategy for intelligent Internet of Things (IoT) experiences.

According to a media release yesterday, at Samsung's Monday media conference, the technology giant demonstrated its ability to make "seamlessly connected consumer experiences" across Samsung devices at home, at the office and on-the-go.

The company said it was working towards making all Samsung products IoT ready by 2020.

“At Samsung, we believe IoT should be as easy as flipping a switch. With the new products and services announced today, we're making IoT easier and more seamless,” said Hyunsuk (HS) Kim, President, Head of Samsung's Consumer Electronics Division and Samsung Research.

Samsung's release said today's fragmented and complex IoT ecosystem is a barrier to adoption.

“For IoT to be approachable and accessible it requires scale and open innovation. Thanks to a robust portfolio of products including TVs, appliances and smartphones, and Samsung's leadership to deliver 5G connectivity, Samsung is well-positioned to deliver an open IoT ecosystem via SmartThings.”

Samsung said it was working with partners such as the Open Connectivity Foundation (OCF) to set common industry standards.

OCF is the largest IoT standardization body in the world and Samsung's ARTIK chip, air conditioner and Family Hub refrigerator have already been certified by the association for interoperability criteria needed for IoT.

“In spring 2018, Samsung will unite its IoT applications, including Samsung Connect, Smart Home, Smart View and more into the SmartThings app to connect and control any SmartThings-enabled device directly from their phone, TV, or car from a single application.”

According to the release, Samsung spent more than US$14 billion on R&D in 2017 as part of its committment to investing in breakthrough technologies.

“Samsung also created a new AI Center as part of its newly consolidated Samsung Research unit. The AI Center, which includes four labs in Toronto, Montreal, Cambridge (UK) and Russia in 2018, will be coupled with Samsung's ongoing work in Korea and Silicon Valley and the company's M&A activities to drive its AI ambitions forward.”

ECA commends former president for service

Tue, 01/09/2018 - 21:59

The Employers Consultative Association of T&T (ECA) has expressed its sadness at the passing of former President of the Republic, Professor George Maxwell Richards.

“Indeed, Professor Richards bequeaths to posterity a legacy of illustrious service and significant accomplishments of which his family, friends and loved ones can be eternally proud,” said a release from the ECA yesterday.

Richards passed away on Monday and served as President from 2003 to 2013.

“The ECA will particularly remember His Excellency's love for life and his ability to appreciate and enjoy those things that are uniquely Trinidad and Tobago. He was an exemplary citizen, a consummate professional, a distinguished President and most importantly, a committed family man.”

The ECA said it joins the national community in expressing its heartfelt condolences to the family of Richards during this very difficult time.

Three advances, two declines on TTSE

Tue, 01/09/2018 - 01:06

Overall market activity resulted from trading in 14 securities of which three advanced, two declined and nine traded firm.

Trading activity on the First Tier Market registered a volume of 214,265 shares crossing the floor of the Exchange valued at $6,388,464.10.

Massy Holdings Limited. was the volume leader with 98,405 shares changing hands for a value of $4,739,184.80, followed by GraceKennedy Limited with a volume of 51,834 shares being traded for $160,685.40.

JMMB Group Limited contributed 31,005 shares with a value of $51,158.25, while National Flour Mills Limited added 10,000 shares valued at $19,100.

NCB Financial Group Limited registered the day’s largest gain, increasing $0.18 to end the day at $6.75.

Conversely, Sagicor Financial Corporation Limited registered the day’s largest decline, falling $0.05 to close at $7.95.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 171 shares valued at $3,591. It remained at $21.

Bourse Brazil Latin Fund remained at $8.10.

Calypso Macro Index Fund remained at $21.40. Fortress Caribbean Property Fund Limited SCC—Development Fund remained at $0.67.]

Fortress Caribbean Property Fund Limited SCC—Value Fund remained at $1.70.

Praetorian Property Mutual Fund remained at $3.05.

The Second Tier Market did not witness any activity.

Mora Ven Holdings Limited remained at $14.49.

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