This country’s construction industry suffered significant loss of its human resources. A release from the Central Statistical Office stated that the there a significant decrease in the unemployment rate in this industry. It says rates fell from 12.9% in 2010 to 10.4% in 2012. The CSO stated that the size of the labour force in construction fell by 6.5% but was accompanied by a 24.5% decline in the number of persons unemployed for this industry resulting [...]

State owned bank First Citizens is yet to be enlisted on the stock exchange. One year ago, the then Finance Minister Winston Dookeran announced in the last budget that three state companies would be enlisted. To date that is yet to be done and the next budget is just around the corner. CEO of the stock exchange Wain Iton says trading has been down and is even slower than last year. He says new listing [...]

The developers of the high-rise apartments in Shorelands have now found themselves in troubled waters with their banks. The banks-CIBC First Caribbean and RBC Royal are threatening to appoint a receiver if the developer-Hyacinth Akow limited does not pay up the 850 million dollars owed. Director of the company Joseph Rahael told 7Eyewitness News that his company is concerned about the stance the banks have taken but he is hoping for the best outcome. Rahael says [...]

A T&TEC employee has been dismissed for not allowing a safety audit on his tools. In a statement, T&TEC says around 10am yesterday an engineer visited a jobsite in Tunpuna to carry out an audit where he observed two men sleeping at the back of a T&TEC vehicle. After inquring,  the engineer was told that the crew foreman was at another jobsite. When the foreman did return an attempt was made for a safety audit [...]

Outgoing Central Bank Governor Ewart Williams says 10 years ago, he was a bit apprehensive to take up the post at the bank As his term comes to and, he has served under three administrations Governor Williams says one of the major challenges over the years, the Central Bank faced was the collapse of CL Financial.

Allan Clovis has been running Kariwak Village Hotel for the past 30 years and he says over that period there has been very little development in the tourism sector. In an interview with 7 Eyewitness News the Tobago Hotelier says he never thought the hotel industry would reach this stage.  His hotel is operating with a 65 per cent occupancy rate and he says his resources are running out. Most of his guests come from [...]

Finance Minister Larry Howai is defending the ten million dollars he collected after leaving First Citizens last week. In a statement, he says after 31 years of service to the state owned bank, he retired early so that he could take up the post as finance minister. Minister Howai says : “The decision was not an immediate one since I knew two things  would occur for certain. The first would be the loss of income which [...]

The Banking Insurance and General Workers Union is questioning the basis in which Former CEO of First Citizens Larry Howai was paid $10M when he left. This payment covers his 32 years of service at the state owned bank. In a statement, President of BIGWU Vincent Cabrera says the Chairman of First Citizens has refused to start negoations with the union. The union President says the Chairman indicated to them that she did not get any [...]

Finance Minister Larry Howai admits that giving up his post as CEO of First Citizens and Chairman of the National Gas Company was not an easy task. In an interview with Seven Eyewitness News, Minister Howai says the Prime Minister told him the timing was right for him as Finance Minister. He has been CEO of state owned First Citizens for the past 15 years and he says the bank has gone through some difficult periods [...]

Central Bank Governor Ewart Williams’ term in office is expected to end next month. But there is still no word on who will replace him. Finance Minister Winston Dookeran was asked about Williams’ replacement and he remained tight lipped on who will take over. In his last monetary report Governor Williams said the economy is in a slump having gone through three consecutive years of negative growth.