Business

Uncertainty over T&T-Venezuela gas deal following sanctions

Minister in the Office of the Prime Minister Stuart Young has said that the government does not know as yet if the US sanctions on Venezuela's state-owned oil company PDVSA would affected the gas deal between Venezuela and Trinidad and Tobago.

"We are seeking advice to determine how they may affect the deal," Young said in response to a question by Opposition Leader in the Senate, Wade Mark.

He said it was premature at this time to say what, if any, effects it may have.

McDonald's to hire 70 new staff members in 2019

Arcos Dorados, the biggest independent franchiser of McDonald's in the world, says it plans to offer 70 new jobs in Trinidad and Tobago this year.

"We are proud to be recognised as one of the companies that generates more job opportunities for young people throughout Latin America and the Caribbean. We entrust our business to them, from ensuring our quality standards to providing an extraordinary experience to the millions of customers we serve across the region every day," McDonald’s market supervisor Kalifa Duncan said in a statement Tuesday,

Oil prices rise after US sanctions on Venezuela

Oil rose above $52 a barrel as the White House announced new sanctions against Venezuela’s state oil company Monday, bringing another supply risk to the market.

Futures rose as much as 1.2 percent in New York, following a 3.2 percent drop Monday.

The Trump administration issued fresh sanctions on PDVSA which effectively block President Nicolas Maduro’s regime from exporting Venezuela’s crude to the U.S.

That came hours after Saudi Arabia pledged deeper cuts in February as part of a deal with its allies to cut oil production.to the market.

Scotiabank warns of phishing scam

Scotiabank Trinidad and Tobago is advising customers of unauthorized text messages being circulated in the public domain requesting confidential bank information.

The bank says these messages are fraudulent and considered “phishing”.

Scotiabank says if you receive these text messages, never respond, open attachments or click on links.

"We recommend that you delete these messages. Always remember that Scotiabank will never send you unsolicited text messages asking for confidential information such as your ATM PIN", the statement said.

MHTL: Big savings if methanol used as fuel additive

Gaso­line and diesel prices could go down if T&T de­cides to use methanol as five per cent its fu­el mix­ture.

This was re­vealed by Vishard Chan­dool, man­ag­er tech­ni­cal and cor­po­rate ser­vices Methanol Hold­ings Trinidad Ltd, who told a methanol con­fer­ence yes­ter­day that the coun­try could save as much as a quar­ter bil­lion dol­lars on an an­nu­al ba­sis if the coun­try de­cides to blend five per cent of its fu­el with methanol.

This sav­ings, he said, can then be passed on­to mo­torists.

Police search A&V Drilling

Scores of police officers descended upon the head office of A&V drilling in San Francique today.

Heavily armed officers could be seen outside the business place, as their plainclothes counterparts, believed to be from the Fraud Squad Unit, were seen heading inside. It is not clear if the raid is connected with the alleged fake oil scandal.

Back in 2017 claims emerged that A&V Drilling, which is owned by Nizam Baksh, a close friend of the prime minister received millions of dollars from Petrotrin but failed to supply the volume of oil it promised.   

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