economy

Inflation below 1% in February

The Central Bank's Monetary Policy Report has shown that inflation has slowed considerably.

Headline inflation was 0.9 percent in February, while core inflation measured 0.5 percent.

The following is the Central Bank's report issued today:

"Since the last meeting of the Monetary Policy Committee (MPC) in November 2017, global growth prospects have continued to strengthen.

Caribbean Airlines owes Airports Authority $210 million in rent

The national airline, Caribbean Airlines (CAL) owes a staggering $210 million in rent to the Airports Authority of T&T (AATT), according to the Auditor General’s Department.

CAL has promised to come up with some kind of settlement plan to pay off the outstanding arrears.

This was revealed yesterday in a Public Accounts Committee meeting chaired by Bhoe Tewarie at the Parliament Building, Port-of-Spain.

Cabinet gives green light for new $500 million Tobago airport terminal

Finance Minister Clm Imbert has announced that the Cabinet has agreed to begin the construction of a new terminal building for the ANR Robinson Airport in Tobago, by the end of this year.

It's expected to cost $500 million, but the acquisition of property is not included in that figure.

He made the announcement at today's post-Cabinet media conference.

While the current terminal building is located at the start of the runway, the new terminal will be located at the end of the runway.

TTNGL's profits up 30.2%

Trinidad and Tobago NGL Limited’s (TTNGL) Chairman Gerry Brooks has announced another year of positive growth for the company with profit after tax increasing to TT$233.7 million.

This represents a 30.2% improvement over full year 2016 results.

In his statement for the summary financial results for 2017, earnings per share were recorded at $1.51.

Brooks added that these earnings are the consequence of a series of deliberate initiatives at Phoenix Park Gas Processors Limited (PPGPL) which have enhanced performance and shareholder value.

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