Business

40,300 phones idle in Miami warehouse as $500m TSTT deal goes sour

An ex­plo­sive in­ter­nal re­port at the Telecom­mu­ni­ca­tions Ser­vices of T&T (TSTT) has de­tailed and raised ques­tions about an over $500 mil­lion deal gone sour.

News of this deal comes against the back­drop of the dis­missal of more than 500 work­ers over the past month, with high op­er­a­tional over­heads be­ing giv­en as the rea­son be­hind the move.

Guardian Me­dia has found that the mis­man­age­ment of a US$84.1 mil­lion deal with CT Mi­a­mi was raised be­cause it al­leged­ly breached sev­er­al of the com­pa­ny’s cor­po­rate poli­cies.

Espinet, Sahadeo on two boards of Petrotrin replacement companies

Former Minister in the Ministry of Finance Christine Sahadeo has been appointed to boards of two of the four companies that have been created to replace Petrotrin.
 
Sahadeo whose last tenure on a government board ended with her resignation from the Port Authority of Trinidad and Tobago has been named to the boards of Paria Fuel Trading Company and the Guaracara Refining Company Limited.
 
Heritage Petroleum and Paria Fuel Trading Company boards continue to be chaired by Wilfred Espinet while Reynold Adjodhansingh remains deputy chairman.

Tewarie: Sandals exit is unfortunate for Tobago

Central MP and former planning minister in the People's Partnership government Dr Bhoe Tewarie says what has happened to the Sandals project is unfortunate for Tobago and for the tourism sector in T&T. 

However, he has put the blame at the feet of the government.

"Dr Rowley and his obstinate, belligerent ministers are directly responsible for this failure. From the very beginning, no one in the Government would explain the project properly. The story changed as they moved from one explanation to another as if no citizen would remember what they said before," he said.

Cara Hotels to manage Napa hotel

Cara Ho­tels has leased the 53-room ho­tel at­tached to the Na­tion­al Acad­e­my of the Per­form­ing Arts (Na­pa).

Ac­cord­ing to a De­cem­ber 2018 Cab­i­net note about the deal, the com­pa­ny will pay some $390,000 per year to lease the Na­pa Ho­tel, payable in quar­ter­ly tranch­es.

The first pay­ment is not ex­pect­ed un­til 2021.

Petrotrin pays $50 million backpay to former non-permanent workers

Petrotrin says that it has transferred $50 million to commercial banks to fulfill its commitment to pay all former non-permanent workers outstanding backpay for the period 2011 to 2018.

Some 2069 individuals will benefit from the payout.

A statement by Petrotrin says that a team from PricewaterhouseCoopers (PWC) worked diligently during the past several weeks to ensure the company met its commitment to pay workers by January 15.

Petrotrin ceased operations on November 30, 2018, but the process for determining the amounts owed to each worker required detailed work.

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