Scotiabank Trinidad and Tobago has so far recorded an income after taxation of over half a billion dollars for the financial year 2019, the company’s unaudited financial results have stated.
“Year to date income after taxation was $524 million, an increase of $40 million or eight per cent over the same period last year.
Vembev, the company that distributes Pepsi and other beverages Ocean Spray, has been closed down and 33 employees sent home.
The decision to close the company and get rid of 40 per cent of staff was made although its parent company, Agostini Limited, earned in excess of $120 million in profits for the first nine months of the fiscal year.
The Heritage Petroleum Board of Directors has appointed an Executive Leadership Team (ELT) to provide additional managerial support for Chief Executive Officer Mike Wylie while he receives treatment in the US after undergoing surgery.
A statement by the company says that Wylie, who has been away for the past two months, will continue to direct the operations remotely with an ELT on the ground that will report to the Heritage Board of Directors.
The Industrial Court’s recent decision to discontinue its inquiry into allegations of contempt of court raised by the Joint Trade Union Movement (JTUM) against the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC) has raised more questions than it has provided answers according to a media release yesterday from the T&T Chamber of Industry and Commerce.
The media release said while the Chamber is relieved that “good sense has prevailed” in this matter, a number of “burning issues” remain unresolved.
Digicel has raised its prices on some of its offerings effective August 15, 2019. In a response to questions by Guardian Media, the company said: “...due to higher programming costs, it became necessary to adjust the prices on some of the packages, which only directly affects around five per cent of our customer base.”
The telecommunications company continued: “Obtaining maximum value is important to our customers, and the company, therefore, works diligently to keep costs under control.”