economy

Hoteliers hoping for Easter recovery

Tobago hoteliers are keeping their fingers crossed that the T&T Spirit will return to service on the seabridge soon.

The vessel has been out of service since June last year when it went on dry dock, leaving its sister ship the T&T Express operating solo on the route. Works and Transport Minister Rohan Sinanan said he expects the vessel would be “out from dry dock soon.”

RIC pushes closer to WASA, T&TEC rate hikes

The Regulated Industries Commission will be consulting with members of the public in late April or early May on a proposed rate increase for the T&T Electricity Commission (T&TEC) and by the end of July or early August will hold public consultations on recommended increases for the Water and Sewerage Authority.

And although there is no guarantee that the recommended increases will be implemented those with the authority to implement the recommended increases are being urged to consider the current economic challenges before asking citizens to pay more for the utilities.

T&TEC examines rate hike to offset $bn annual wage bill

The T&T Electricity Commission has been operating at a loss for the past seven years and its chairman is saying that the board of directors is now looking at whether there is need to trim the fat at the utility which has close to 3,000 employees an annual wage bill of over a billion dollars.

New airline to service Trinidad-Tobago airbridge soon

A new airline is in the making to compete with Caribbean Airlines on the Trinidad and Tobago airbridge.

The airline is to be called Tobago Airways and the businessmen behind it are seeking to attract investors.

The airline's website, www.tobagoairways.com has a countdown that currently shows 29 days with a headline, "Something new and exciting is coming soon".

A proposal being issued to investors names the airline's Chief Executive Officer as Raymond McMillan.

CNC: Accepting NGC's offer would make us uncompetitive in global ammonia market

The Caribbean Nitrogen Company (CNC) said it risked becoming uncompetitive in the global ammonia market if it had accepted proposals for a long-term contract by the National Gas Company (NGC).

According to a release issued by the company, it did not accept NGC's final offer as it would have put the plant in a negative financial position.

The move it said would have led to business becoming unsustainable.

The release also sought to clarify information that may affect its future.

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