Government Senator Subhas Panday says the government is restrained from undertaking major infrastructural projects due to limited finances. The opposition has questioned whether the plans for a tunnel from Tunapuna to Maracas were still on the cards that initiative was announced by the finance minister in the 2010/2011 budget. Responding to senate Mr. Panday says such a project will be implemented by NIDCO. But at the same time, he says the government is faced with [...]

Payments to depositors of the Hindu Credit Union are still being processed. Last month Finance Minister Winston Dookeran said the Deposit Insurance Corporation was still finalising the details before payments can be made. And while not wanting to give a definite time frame again, the finance minister did say that payments could very well be made before carnival. The process has reached a sensitive stage and guidelines are yet to be issued by the government [...]

With oil prices trading over USD85 per barrel, airlines are feeling the pinch. The International Air Transport Association says airlines’ profits are expected to dip against higher fuel costs. The association is projecting airlines would earn USD9.1 billion from this year down from the USD15.1 billion in 2010. IATA says fuel cost is one of the largest contributors to an airline’s cost. The higher fuel costs have so far outweighed the predicted rise in passengers. [...]

Minister of Arts and Multi-culturalism Winston Peters says bandleaders opt to import their costume from China because making it locally will cut into their profits. He says over the years carnival seems to be evolving around the bandleaders and the amount of money they are able to rake in for the season. Minister Peters says this must change and everyone must share in the pie. Judy Kanhai sat down with the multiculturalism minister and files [...]

Natural Gas prices increased for the first time in three days today. Analysts say the gas market does not have any direction at this stage and is simply latching on the strength of other commodities. But with warmer temperatures expected in cold countries the demand for heating fuel is expected to fall soon. The price of natural gas futures for March increased by 3 percent to 3.9 dollars per million British Termal Units. Meanwhile the [...]

Eutrice Carrington has been appointed Executive Director of The Unit Trust Corporation. She was appointed by the Corporation’s Chairman. Carrington has been with UTC for nearly twenty years and while there she served as Chief Executive Officer, Vice President of Asset Management, Security Analyst and Portfolio Manager. Ms. Carrington holds a Bachelor of Science Degree in Economics and a Master’s Degree of Science in Economics. In the coming weeks Ms. Carrington will meet with he employees [...]

Clico policyholders might just have to think twice before taking the government to court to settle their payments over a shorter time frame. Governor of the Central Bank Ewart Williams says without government’s assistance, there would be fewer resources to meet the claims of the policyholders. He made the comments at a press conference held at the Central Bank yesterday. He says it is important that all parties come to some kind of agreement and [...]

Local businesses must give more money to charities.  So says the Minister of Community Development Nizam Baksh. He made the statement yesterday while speaking at a fund raiser held by the Indian Women’s Group of Trinidad and Tobago. He said businesses should give to the Indian Women’s Group, as well as other charities, as all our citizens are entitled to a sustainable livelihood, and the gap between the haves and have –nots must be closed. [...]

Well, some relief for Clico policy holders as Finance Minister Winston Dookeran says those who are dependent on their Clico investments for their immediate needs, would be able to access their money…..  But, he says, this is only up to 250 thousand dollars. Speaking in Parliament today Minister Dookeran says the 20 year bond payment for depositors over 75,000 dollars will remain….government has already committed 500 million dollars annually for that payment. The government, he [...]

The salary for Acting Chief Executive Officer of the Water and Sewerage Authority is 43 000 dollars with an allowance of 7000 per month. In fact Ganga Singh was considered to be the most uniquely qualified person for the post. This was the announcement made today by Minister of Public Utilities Emmanuel George. He was responding to questions by opposition leader Dr Keith Rowley. George contended that Singh’s remuneration package will be finalized once a [...]