BP the par­ent com­pa­ny of bpTT has an­nounced ma­jor changes in it glob­al busi­ness that will have ma­jor im­pli­ca­tions for Trinidad and To­ba­go.

Al­though hur­ri­cane re­con­struc­tion ef­forts bol­stered eco­nom­ic ac­tiv­i­ty in the Caribbean re­gion, the Caribbean De­vel­op­ment Bank (CDB) Pres­i­dent Dr William War­ren Smith re­vealed that 2019 was an­oth­er year of lack­lus­tre growth for the bank’s Bor­row­ing Mem­ber Coun­tries (BM­Cs).

A re­port by the In­ter-Amer­i­can De­vel­op­ment Bank (IDB) charts a course for a mas­sive in­fra­struc­ture trans­for­ma­tion in Latin Amer­i­ca and the Caribbean through gains in ef­fi­cien­cy, use of dig­i­tal tech­nolo­gies, and a fo­cus on qual­i­ty and af­ford­abil­i­ty of con­sumer ser­vices rather than struc­tures.

First Cit­i­zens’ prof­it af­ter tax­a­tion fell by 60 per cent for the three months end­ed June 2020 when com­pared to the same pe­ri­od last year.

Re­pub­lic Fi­nan­cial Hold­ings Lim­it­ed (RFHL) an­nounced yes­ter­day a prof­it at­trib­ut­able to share­hold­ers of the par­ent of $774 mil­lion for the nine-month pe­ri­od end­ed June 30, 2020.

The House of An­gos­tu­ra has added a brand new type of bit­ters to its port­fo­lio, co­coa bit­ters.

The Op­po­si­tion Unit­ed Na­tion­al Con­gress (UNC) must be com­mend­ed for pro­vid­ing the coun­try with its plans for the econ­o­my over the next five years, should it come to pow­er.

For oil pro­duc­ers in the re­gion like T&T, oil prices have re­cov­ered some­what and sta­bilised at around the US$40 per bar­rel (WTI), af­ter reach­ing his­toric lows.

Two econ­o­mists have called the UNC’s pro­posed plans for the fis­cal man­age­ment of the na­tion ques­tion­able and im­prob­a­ble.

Al­though the two com­pa­nies, the West In­di­an To­bac­co Com­pa­ny (Wit­co) and Trinidad Ce­ment Ltd (TCL) re­ceived spe­cial ex­emp­tions from the Gov­ern­ment to re­sume op­er­a­tions, ear­ly dur­ing the “stay-at-home” pe­ri­od of the cur­rent pan­dem­ic, their fi­nan­cial re­sults were strik­ing­ly dis­sim­i­lar.

COVID-19 has rav­aged the glob­al econ­o­my, but In­for­ma­tion and Com­mu­ni­ca­tions Tech­nol­o­gy (ICT) can com­bat the ef­fects of the pan­dem­ic in many ways.

And, ac­cord­ing to re­ports, T&T is robbed of $30 mil­lion a year be­cause of this il­lic­it trade.