The on­go­ing con­fu­sion sur­round­ing the pro­posed spend by the Gov­ern­ment of $50 mil­lion to up­grade ho­tels and guest­hous­es in To­ba­go in or­der to im­prove the is­land’s tourism prod­uct is the lat­est in what has been a his­to­ry of tax­pay­ers los­ing mil­lions of dol­lars in tourism spend un­der the con­trol of the To­ba­go House of As­sem­bly.

First Caribbean In­ter­na­tion­al Bank (FCIB) has record­ed a net loss of US $110 mil­lion or $743 mil­lion for the quar­ter end­ed April 30. 

At the Unit Trust Cor­po­ra­tion’s 2020 An­nu­al Gen­er­al Meet­ing (AGM), the com­pa­ny’s ex­ec­u­tive di­rec­tor, Nigel Ed­wards said: “Af­ter care­ful analy­sis, we have de­cid­ed to dis­con­tin­ue the op­er­a­tions of the Bu­reau de Change, ef­fec­tive 1st Au­gust 2020.”

Sco­tia­bank has been named the best bank in Trinidad and To­ba­go ac­cord­ing to Glob­al Fi­nance Mag­a­zine.

One in every five ve­hi­cles on the na­tion’s roads is unin­sured, ac­cord­ing to es­ti­mates from the As­so­ci­a­tion of T&T In­sur­ance Com­pa­nies (AT­TIC).

The in­ter­na­tion­al rat­ing agency, S&P, has said that pre-COVID, many Caribbean coun­tries did not have the strength to with­stand pres­sures brought about by the pan­dem­ic’s im­pact and as a con­se­quence were down­grad­ed.

More help is com­ing for small busi­ness­es dur­ing this fi­nan­cial­ly dif­fi­cult time, Fi­nance Min­is­ter Colm Im­bert has an­nounced.

Chi­nese tech­nol­o­gy com­pa­ny Huawei says the lat­est at­tempt by the US gov­ern­ment to cut it off from in­ter­na­tion­al semi­con­duc­tor sup­plies will end up do­ing the US more harm than good.

Busi­ness­man Wil­fred Es­pinet has slammed the process for the pay­ment of Val­ue Added Tax Bonds which the gov­ern­ment is in­sist­ing will on­ly be done for busi­ness­es whose tax­es are paid in full and up to date.

As T&T slow­ly be­gins to reawak­en and tries to shake off the eco­nom­ic night­mare cre­at­ed by the coro­n­avirus pan­dem­ic, man­u­fac­tur­ers have tak­en op­er­a­tional steps nec­es­sary to pro­mote ef­fec­tive health and safe­ty prac­tices dic­tat­ed by law and good sense.

Many Caribbean coun­tries will ex­pe­ri­ence a gen­er­al de­cline in eco­nom­ic ac­tiv­i­ty in the com­ing months in light of COVID-19’s im­pact, the Caribbean De­vel­op­ment Bank (CDB) has stat­ed.

Glob­al rat­ing agency, Moody’s has con­firmed T&T’s Ba1 cred­it rat­ing in the midst of the COVID-19 pan­dem­ic, but the out­look for the coun­try is not pos­i­tive, a re­lease from the Min­istry of Fi­nance has stat­ed.