Business

OWTU to file contempt case against Petrotrin

The Oil­fields Work­ers’ Trade Union (OW­TU) says it will file con­tempt of court pro­ceed­ings against Petrotrin for its fail­ure to dis­cuss the cri­te­ria be­ing used to staff the Her­itage Pe­tro­le­um Com­pa­ny Ltd and the Paria Fu­el Trad­ing Com­pa­ny.

In a me­dia con­fer­ence at the union’s Para­mount Build­ing in San Fer­nan­do Tues­day, OW­TU pres­i­dent gen­er­al An­cel Ro­get said that the union was plan­ning to get the process start­ed.

Gov't signs MOU to strengthen security for energy sector

National Security Minister Stuart Young has signed a Memorandum of Understanding (MOU) with stakeholders in the energy sector, to formalise existing security arrangements between the government and energy sector companies as well as strengthen relations by providing a framework for the sharing of security-related information.

A statement by the ministry says the agreement aims to bolster cooperation and safeguard the sector from the various threats it faces.

Guyana's Finance Ministry concerned about Republic's acquisition bid of Scotiabank

The Ministry of Finance in Guyana says the decision by Scotiabank to agree to an acquisition by Republic Bank's, is of concern and is regrettable at this time.
 
The Finance Ministry issued the following statement in light of this morning's announcement.
 
"The Ministry of Finance notes the announcement today of the agreement for control of Scotiabank by Republic Bank in nine Caribbean territories including Guyana.
 

T&T can lose Caricom market for fuel

Trinidad and Tobago faces the possibility of losing Caricom markets for the export of fuel as the price of fuel coming out of T&T is likely to increase.

Minister of Energy and Energy Industries, Franklin Khan told the Senate today that Caricom countries now have the option of sourcing their products on the open market.

He said that Petrotrin still has the ability to supply small cargoes, including aviation fuel, to small Caricom countries, which gives it a strategic advantage.

Proman Group to sponsor comic book series on Prof Ken Julien

Proman Group has today announced that it will sponsor the production of a new comic book series on the life of Professor Kenneth Julien highlighting his life and achievements.

Dr Euric Bobb, Chairman of Methanol Holding Trinidad Limited (MHTL), a subsidiary of the Proman Group, announced the partnership on behalf of Proman earlier today at the Institute of Electrical and Electronics Engineers Trinidad and Tobago (IEEETT) conference to honour Professor Julien’s life.

TTMA urges parliamentarians to pass Tax Amendment Bill

The Trinidad and Tobago Manufacturers’ Association (TTMA) is "strongly" urging the government and the opposition to come to an agreement regarding the Income Tax Amendment Bill, which is need­ed to fa­cil­i­tate an ex­change of tax­pay­ers’ in­for­ma­tion with Eu­ro­pean Union/Glob­al Fo­rum states.

In a statement issued Monday, the TTMA sais it is aware that failure to pass this legislation could lead to significant delays in local transactions with overseas banks, a situation that would have severe consequences for the business community and the general public.

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