economy

MV Britannia on 7th call to Tobago this season

The cruise ship MV Britannia has made its 7th and final call for the current cruise season to Tobago today, with 3,553 passengers on board.

The MV Britannia is the largest ship in P&O Cruises’ UK fleet with a capacity for 4,324 passengers and 1,398 crew members.

It made its maiden voyage to the island on December 14, 2017, and has brought 24,269 passengers to Tobago for the entire season.

EOG to ramp up production in T&T

Prime Minister Dr the Honourable Keith Rowley has met with a high-level delegation from EOG Resources at the Office of the Prime Minister, St Clair,.

The Office of the Prime Minister said the meeting was a follow-up to the Prime Minister’s visit to Houston last March, where he met with Chairman and CEO of EOG Resources, William Thomas and other executives at the energy company’s headquarters.
 
On this occasion William Thomas indicated to the Prime Minister that EOG was moving apace to ramp up production and they remain focussed on Trinidad and Tobago.

Still no clarity on how tax will be calculated

Caroni Central MP Dr Bhoe Tewarie says the Opposition wants to propose a number of significant amendments to the Property Tax Amendment Act 2018 and a moratorium on taxes because citizens are already overburdened.

Speaking at a press conference yesterday, Tewarie said this was the tenth tax measure levied on the population.

“The Minister of Finance presented this bill as if everything was fine and there was a consensus about it. I was certainly prepared to speak and I would have followed the AG if he had spoken,” Tewarie said of Friday’s debate on the bill.

NGC, CNC return to the table

The National Gas Company Limited (NGC) and Caribbean Nitrogen Company (CNC) have quietly returned to the negotiating table after a major stand-off that resulted in the NGC cutting off natural gas to the company and CNC taking the State-owned enterprise to the UK Court of Arbitration.

The stand-off earlier this year, led to the Government accusing CNC of trying to bully the NGC for gas and saying it is not a secret that NGC will have to pay significantly higher prices for gas in 2019.

TT owes China $2.229 billion in loan debts

Trinidad and Tobago currently owes the People's Republic of China TT$2.229 billion dollars, according to Minister of Finance Colm Imbert.

The debt is in the form of loans and financing facilities as at January 31st, 2018.

The debt includes the construction of the National Academy for the Performing Arts and Southern Academy for the Performing Arts.

The outstanding debts from loans for the two are $440,295,212 and $180,835,533 respectively.

The debt own on a loan for the construction of the Couva Hospital currently stands at $924,511,500.

Petrotrin to take control of Catshill field by noon today

State-owned oil company Petrotrin will be taking possession of the Catshill field by noon today.

The move comes a day after a and v oil and gas was defeated in the privy council. It meant a and v was unable to prevent Petrotrin from terminating its multi-million dollar contract with them.

The Catshill field was previously operated by A&V Oil and Gas.

Airport upgrade for Sandals project

The 750-room hotel by Sandals Resorts on the ultra-exclusive Buccoo Estate, No Man’s Land, in Tobago can only be a reality if there is a significant upgrade of the Arthur NR Robinson Airport, smoother, friendlier immigration process and litter-free environment.

These are what deputy chairman of Sandals Resorts International Adam Stewart described as the “tough-love part of the conversation” in hammering out the multi-million dollar deal which has the potential of reigniting the tourism industry on the island.

Roget: No job safe in T&T

Oilfield Workers Trade Union (OWTU) President-General Ancel Roget says the Joint Trade Union Movement (JTUM) is on a rapid mobilisation campaign to raise awareness and consciousness that no worker is safe in T&T.

He was speaking at JTUM's campaign for national resistance against austerity at the Banking, Insurance and General Workers Union's (BIGWU) head office in Barataria, yesterday.

Roget said “We give people a job to ensure that they maintain and increase the standard of living for everybody, but by accepting that job, they're allowing our jobs to slip away.

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