作者: admin

  • Ruim SRD 1,4 milard derving door brandstofcap en maakt loonsverhoging haast onmogelijk

    Ruim SRD 1,4 milard derving door brandstofcap en maakt loonsverhoging haast onmogelijk

    Suriname’s government is currently grappling with a growing fiscal crisis triggered by its temporary fuel price cap policy, which has already cost the state an estimated 1.4 billion Surinamese dollars (SRD) in foregone revenue, according to Finance and Planning Minister Adelien Wijnerman. With monthly costs of the subsidy running at roughly SRD 350 million, authorities are now actively evaluating when and how to phase out the price control measure, tying any final decision to ongoing wage negotiations with the country’s labor unions.

    The temporary fuel price cap was implemented to shield consumers from full volatility in global energy markets, requiring the state to cover the gap between the subsidized retail price and the actual market price determined by international trends. Wijnerman confirmed that cumulative costs of the policy have now hit the SRD 1.4 billion mark, prompting the cabinet to explore two possible paths: an immediate full elimination of the cap, or a gradual phased reduction. No final timeline for the change has been set, as the government is still working with President Jennifer Simons to identify an optimal window for the policy shift, with global fuel price trends serving as a core deciding factor.

    As of now, Wijnerman noted, international market forecasts do not point to fuel prices falling in the near term, meaning there is no expectation that a delayed policy shift would result in lower consumer costs when the cap is eventually lifted. The final retail price after the cap is removed will only be set once the change is implemented, aligned with prevailing global prices at that time.

    The situation is complicated by parallel negotiations over public sector wage increases between the government and national labor unions. The administration has already tabled an initial offer to unions, with talks set to resume next Monday when a counterproposal from labor groups is expected. Wijnerman declined to comment on the specific fiscal impact of any potential wage deal while negotiations remain ongoing, but made clear that the fuel price cap and wage hike demands cannot be separated: the government cannot afford to sustain both policies simultaneously.

    She acknowledged that unions’ concerns align with this reality: if the fuel price cap is lifted and pump prices rise, any wage increase awarded to public workers would immediately be eroded by higher energy and transportation costs. “The first point the unions make is that if you remove the cap and give us a wage increase on the other side, it means nothing,” Wijnerman explained.

    This forced linkage means the government is carefully weighing the timing of any change to fuel policy, and plans to launch a full public communication campaign to explain how removing the cap will impact consumer pump prices. The administration now faces a balancing act between fiscal stability and social welfare: continuing the cap protects household purchasing power from global price shocks but imposes a crippling monthly drain on state finances, while eliminating the cap would free up much-needed fiscal room for the government but put downward pressure on consumer buying power and potentially negate much of the impact of a negotiated wage increase. Wijnerman emphasized that both the fuel price cap review and ongoing wage negotiations are top-priority issues for the Ministry of Finance at present.

  • PSC moves on Marchan

    PSC moves on Marchan

    More than a decade after Ruth Marchan fled Trinidad and Tobago for fear of her personal safety in the wake of the explosive LifeSport corruption scandal, the nation’s Public Service Commission has taken formal steps to officially record her departure from public office, confirming a proposed effective resignation date of November 1, 2015.

    A public notice published by the Service Commissions Department, shared via the official Facebook page of Trinidad and Tobago’s Ministry of Foreign and Caricom Affairs on Wednesday, gave Marchan a seven-day window from the date of the notice to submit any formal representations on her own behalf regarding the proposed declaration. Commission officials confirmed the action is being taken in full compliance with Regulation 49 of the nation’s Public Service Commission Regulations.

    The formal notice reads: “The Public Service Commission proposes to declare Mrs Ruth Marchan, Physical Education and Sport Officer 1 (Range 46), Ministry of Sport and Youth Affairs, to have resigned her office in the Public Service with effect from 1 November, 2015.” Prior to her abrupt departure from the country, Marchan served continuously in the role at the Ministry of Sport and Youth Affairs.

    The LifeSport controversy first erupted in 2014, when Marchan stepped forward as a key whistleblower to expose widespread systemic graft tied to the government’s flagship youth development program. After coming forward with her allegations, Marchan entered a witness protection program and ultimately fled the country, citing credible threats to her life.

    In her testimony, Marchan alleges that she was a direct witness to a coordinated conspiracy between former senior government officials, contracted vendors, and organized criminal actors to siphon more than TT $440 million in public funds from the program. Last year, regional news outlet the Express obtained a full copy of Marchan’s notarized sworn statement, originally recorded in 2021 by Trinidadian law enforcement officials operating under the protection of European law enforcement agencies. In the document, Marchan details a sprawling, interconnected network of fraud, political manipulation, and state-sanctioned corruption that turned a public initiative designed to lift vulnerable communities into a multi-million-dollar criminal racket.

    Originally launched under the former People’s Partnership government, LifeSport was promoted as a landmark social program aimed at diverting at-risk young men away from cycles of crime and violence by offering structured sports and life skills training. The program was abruptly scrapped in 2014 by then-Prime Minister Kamla Persad-Bissessar, following the emergence of corruption allegations, with then-Sport Minister Anil Roberts stepping down from his post in the wake of the scandal.

    Today, more than 10 years after the probe launched, the investigation into LifeSport corruption being conducted by the Trinidad and Tobago Police Service’s White Collar Crime Division remains unresolved, marked by a trail of still-unaccounted-for public funds, multiple key witnesses who have died under suspicious circumstances, and defendants who have yet to face full accountability for the alleged graft.

  • CWU eyes ‘Plan B’  after protest halted

    CWU eyes ‘Plan B’ after protest halted

    A brewing standoff between Trinidad and Tobago’s Communication Workers Union (CWU) and national police authorities has emerged after a planned protest march outside the Port of Spain headquarters of telecom provider TSTT was abruptly canceled at the eleventh hour. CWU President Joanne Ogeer is now publicly challenging the sudden reversal of previously granted protest permissions, raising pointed questions about outside influence on the Trinidad and Tobago Police Service (TTPS) decision.

    Ogeer confirmed in a voice note interview with local broadcaster TV6 that all required administrative steps to secure approval for the demonstration had been completed well in advance of the planned event. She personally coordinated with leadership at Port of Spain’s Central Police Station and the area’s commanding superintendent to finalize logistics for the march, which was intended to pressure TSTT to agree to a 10% wage increase for CWU members covering two bargaining periods: 2020–2022 and 2023–2025.

    Despite weeks of coordinated preparation and formal sign-off from police officials, Ogeer said she received formal notification early yesterday morning that the previously approved permit had been retracted. With no time to adjust logistics, the union was forced to scrap the planned demonstration entirely.

    The sudden reversal has left Ogeer questioning both the underlying motive for the decision and whether any external parties exerted improper influence on TTPS to block the workers’ action. She pushed back against the restriction, emphasizing that the CWU is a law-abiding organization that only seeks to exercise its fundamental right to collective action amid stalled wage negotiations.

    “Why is it so important to restrict workers from expressing their right as it pertains to broken-down wage negotiations with TSTT and the Communication Workers Union?” Ogeer asked in the interview.

    She clarified that while the union remains committed to operating strictly within the bounds of national law, the cancellation of the march will not end its push for a fair wage deal. The union has already activated a contingency “Plan B” for continued industrial action, though Ogeer declined to share details of the alternative strategy during yesterday’s interview.

    Ogeer also noted that CWU is not affiliated with the local Coalition of Interest, a fact she says means the union’s path to resolving the wage dispute will likely be longer and more challenging than for other organized labor groups. She warned CWU members to prepare for an extended period of industrial action, telling reporters that advocating for worker rights “is not a job for the faint-hearted.”

  • NGC ‘broken’ before board took office

    NGC ‘broken’ before board took office

    When the new board of directors took the reins of Trinidad and Tobago’s National Gas Company (NGC) in July 2025, the state-owned energy firm was in critical financial disrepair. Six months later, what once looked like a failing enterprise has emerged as one of the country’s fastest-rotating revenue wheels, capping 2025 with the strongest full-year financial results the company has recorded in more than 10 years.

    The game-changing results were officially unveiled this week at a presentation of NGC’s 2025 summary consolidated financial statements, held at Port of Spain’s Hyatt Regency Trinidad, where NGC Chairman Gerald Ramdeen walked stakeholders through the dramatic reversal of fortune. For the 12 months ending December 31, 2025, the company posted a $3.46 billion profit after tax – a 111% jump from the $1.64 billion profit recorded in 2024. Key performance metrics across the board also saw remarkable improvement: return on assets doubled from 4% to 8%, while return on equity climbed from 7% to 13% as the company strengthened its balance sheet with higher total assets, expanded equity reserves, increased cash holdings and a reduced gearing ratio. Adjusted EBITDA margin hit a solid 24%, reflecting broad-based operational improvement alongside the financial rebound.

    Ramdeen detailed the combination of aggressive structural reforms and targeted operational fixes that delivered the rapid turnaround. When the new leadership stepped in, annual operating expenses hit $1.7 billion – nearly matching the entire $1.6 billion annual profit the company had generated the year prior, creating an unsustainable financial model that left the company essentially broken. Within just six months, the new board cut more than $500 million in annual operating expenses, establishing a far leaner, more efficient operating base that Ramdeen says will deliver recurring annual benefits for years to come.

    Beyond cost cutting, the company overhauled its financial and commercial practices to address long-standing mismanagement. A 24-inch cross-country pipeline, which had sat idle for four and a half years and cost the country an estimated $1.5 billion in lost revenue, was fully repaired within six months of the new board taking office. Leadership also tightened foreign exchange and credit policies, ending a more than two-year informal overdraft of over US$100 million extended to a private downstream customer. That customer had previously paid for gas in Trinidad and Tobago dollars, even as NGC was forced to purchase that same supply from upstream providers in US dollars – an arrangement that created constant currency pressure on the company’s balance sheet, a practice Ramdeen confirmed has been permanently ended.

    The turnaround effort also benefited from unprecedented cross-government collaboration, Ramdeen noted. Close coordination between NGC, the Ministry of Energy and Energy Industries, the Ministry of Finance, and the Central Bank of Trinidad and Tobago cleared regulatory and financial bottlenecks that had hampered progress for years. “The synergy that exists today between the different departments of Government, the regulator of the financial system and the Ministry of Energy is like nothing that has ever been done before in this country,” Ramdeen told attendees.

    Ramdeen added that the company also shifted its recruitment strategy to bring in new leadership aligned with the firm’s updated strategic vision, a change that helped rebuild commercial and operational momentum across the entire natural gas value chain. He attributed the strong 2025 results to three core drivers: higher revenue from natural gas, liquefied natural gas (LNG), and natural gas liquids (NGL) operations; deep structural cost containment; and positive valuation adjustments for the company’s asset base. “The year marked a transformation in how the group created and protected value, allocated capital and managed performance,” he said.

    Far from viewing the turnaround as a finished project, Ramdeen framed the 2025 results as just the first step in a broader expansion strategy that will reposition NGC as a fully integrated energy player across the entire value chain. For decades, NGC has operated primarily as a midstream gas firm focused on transporting and processing natural gas. Under the new vision, the company will build a major presence across upstream exploration and production, retain its core midstream operations, and expand into downstream energy markets.

    The ultimate goal, Ramdeen said, is to reestablish NGC as the leading energy company not only in Trinidad and Tobago, but across the Caribbean and Latin America – a target the leadership intends to hit within its current term. The company is already on the cusp of major strategic decisions that will reshape the country’s energy sector for coming generations, he added, with plans to solidify NGC’s position as the country’s top contributor to government revenue. “We have only started; the work has just begun,” Ramdeen said.

  • Rehan earns ten CAPE Grade Ones

    Rehan earns ten CAPE Grade Ones

    For 18-year-old Rehan Ali, an extraordinary academic feat of earning ten top grades in the Caribbean Advanced Proficiency Examination (CAPE) was not born solely from cramming or endless study marathons. Instead, the recent Naparima College graduate, who is set to pursue his lifelong dream of becoming a doctor at The University of the West Indies (UWI) St. Augustine this September, credits his success to a deliberate combination of intellectual curiosity, consistent discipline, and intentional strategies to avoid academic burnout.

    Over his two years in Form Six, Ali sat for ten CAPE examinations and walked away with all-A profiles in nine subjects, spanning a diverse range of disciplines from Biology, Chemistry, and Physics to Building and Mechanical Engineering Drawing (BMED), Caribbean Studies, and Communication Studies. In an exclusive interview with local outlet Express on Thursday, he opened up about the structured, intentional preparation routine that carried him to this outstanding outcome.

    Rather than overwhelming himself by attempting to master every subject at once, Ali adopted a paced approach: he focused on one subject per day, working steadily through the official syllabus before supplementing his in-class learning with additional resources. These included advanced textbooks, educational YouTube tutorials, modern artificial intelligence study tools, and one-on-one guidance from his experienced teachers. Ali emphasized that setting small, achievable daily goals was the foundation of his consistent progress, rather than relying on last-minute cramming ahead of exams. He also urged future CAPE candidates to center conceptual understanding over rote memorization, a habit he cultivated by constantly asking “why” whenever he learned new material to deepen his grasp of core ideas.

    Ali did not shy away from sharing the challenges he faced along the way. The jump in academic workload from the Caribbean Secondary Education Certificate (CSEC) to CAPE was far steeper than many students expect, and during his first CAPE unit, Ali came dangerously close to full mental burnout. It was his inherent passion for the natural sciences that pulled him through the slump, he explained. “My passion for the natural sciences made learning less of a chore and genuinely interesting, and I’d definitely advise students to choose subjects they enjoy,” he noted. “If it wasn’t for that sense of curiosity and interest, studying consistently would have become extremely difficult.”

    Even with his love of science, two subjects stood out as particularly grueling: BMED and Caribbean Studies. Ali recalled that these two courses demanded far more time and dedication than any of his other subjects, bringing moments of frustration and self-doubt along the way. Of all his accomplishments, he says achieving a distinction in Caribbean Studies means the most to him, as the high-volume, conceptually distinct subject pushed him further than he expected. The reward of a top grade after months of hard work made the effort all the more fulfilling.

    Determined not to repeat the burnout risk he faced in Unit One, Ali redesigned his approach for Unit Two to prioritize work-life balance over nonstop studying. He remained an active member of multiple school clubs, competed on Naparima College’s badminton and swimming teams, and carved out regular time for family, friends, video games, and casual social gatherings to recharge outside of academics. Even with these healthy outlets, exam season still brought moments of overwhelm, but Ali stayed motivated by two core goals: making his family proud and advancing toward his medical career. Ultimately, he says his greatest drive came from an internal desire to test his own limits and see what he could achieve with his full effort.

    To hit that goal, Ali made intentional sacrifices, cutting back on time spent gaming and scrolling through social media to free up space for his studies. He also developed a simple mindset trick to manage pre-exam anxiety: before every test, he reminded himself that once he had prepared as thoroughly as possible, he could not ask any more of himself. “I told myself that if I felt that I prepared as best as I could, there was nothing more that I could do, as I cannot do better than my best,” he explained. This perspective kept exam-night anxiety in check and eliminated post-test regret, letting him move forward to his next exam with clarity.

    Looking back on his seven years at Naparima College, Ali says the institution shaped him far beyond his academic transcript. Beyond classroom learning, the school taught him the value of community service, collaborative teamwork, and intentional time management, and connected him with lifelong friends who pushed him to aim higher. “I cannot select a single favourite memory, but I will miss the fun, interactive classes, the teachers, the clubs and the sports teams that I was a part of during my seven years at Naparima College,” he said.

    Ali was quick to credit his support network for making his success possible. He singled out his parents, Hafiz and Laura Ali, and his sister Saheli, who made significant personal sacrifices to support his academic journey, helping him stay focused while recognizing when he needed rest and emotional support. He also expressed deep gratitude to his teachers, who dedicated extra time and effort to support his learning beyond their required duties. “I attribute a large portion of my success to them, as well as my teachers and my school,” he said.

    In a joint statement, Hafiz and Laura Ali said they beamed with pride not just for their son’s academic achievements, but for the person he has become. “We are so very proud of Rehan, and by that I mean not only his achievements but, more importantly, the person,” they said. “His determination to succeed is nothing short of remarkable. He has always been a very curious child, always wanting to know ‘why’ and challenging every answer. It is a blessing and a joy to witness his determination, growth, development and commitment to achieving his goals, while remaining caring, humble and always offering to help and support those near and dear to him.”

  • HDC $191m project faces scrutiny

    HDC $191m project faces scrutiny

    A $191 million state-led housing development earmarked for one of Trinidad and Tobago’s most violent gang-controlled areas has been thrown into chaos and scrutiny, after a sitting cabinet minister publicly questioned the integrity of its procurement process and the fundamental wisdom of building residential units in the high-risk zone. Phillip Edward Alexander, Minister in the Ministry of Housing, laid out a series of damning questions during a press briefing held on the paused construction site at Citrus Close, Laventille, a piece of territory long contested by rival gangs from Beetham and Laventille. This plot, previously owned by the Citrus Growers Association, is classified by local law enforcement as a “hot zone” for ongoing violent gang conflict, a context Alexander says makes the former People’s National Movement (PNM) administration’s decision to proceed with housing development deeply irresponsible. Under the previous PNM government, the Housing Development Corporation (HDC) advanced plans to build 10 multi-unit structures holding a total of 191 apartments at the site, awarding the main construction contract to Wood Green Construction Services for $191.275 million. The bidding process, however, raises immediate red flags: Alexander confirmed that two firms, Wood Green and Rainbow Construction, made it to the final tender round, with Rainbow submitting a bid of just $137.244 million – a full $54 million lower than the winning offer from Wood Green. Initially, the contract was awarded to the lower-bidding Rainbow, but the HDC’s own Procurement and Disposal Advisory Committee reversed that decision and handed the work to the more expensive Wood Green. In a May 2024 letter obtained by Alexander and addressed to the Office of Procurement Regulation (OPR), Rainbow formally challenged the revised award, arguing that awarding the contract to a bidder $54 million more expensive constituted blatant public fund waste and unauthorized overspending. The letter was submitted during the mandatory standstill period after the contract award, and the OPR promised to launch a formal investigation within a year of receiving the complaint. Now, two years after that pledge of inquiry, Alexander says no findings or conclusions have been released, pointing to what he calls a suspicious double standard from the regulator that is currently far more active in scrutinizing HDC operations today than it was when this alleged irregularity was reported. Compounding the procurement concerns are questions about the project’s broader viability and safety. Alexander argues that building residential units in an active gang conflict hot zone puts future residents at unnecessary, severe risk of violence. He also questioned the project’s economic logic, noting that development costs are drastically out of line with local land values in the area. Per Alexander’s calculations, the per-unit cost is so high that the units cannot be sold at a price that recoups public investment; if rented instead, it would take taxpayers more than two centuries to recover the full $191 million outlay. As of the press conference, all construction work at the site has been halted, and Alexander confirmed that the current government has no clear path forward for the stalled development, leaving the project’s future entirely up in the air. Local media outlet the Express attempted to reach Wood Green Construction Services for comment via contact information listed on the firm’s official Facebook page, but has not received any response to requests for statement as of publication.

  • PNM rift  deepens

    PNM rift deepens

    Long-simmering internal tensions within the People’s National Movement (PNM) San Fernando East constituency boiled over into public view this week, after the local executive directly rejected a directive from top party leadership and launched a pointed public counterattack against sitting Member of Parliament Brian Manning. The conflict was ignited when Manning took to his personal Facebook page Wednesday to air a series of sharp grievances against the constituency executive and its chair, Patricia Alexis.

    Within 24 hours of Manning’s public post, national PNM chairman Marvin Gonzales stepped in to de-escalate the dispute, releasing an official statement on the party’s public Facebook page that warned all party members against airing internal disagreements in the public sphere. Gonzales clarified that the leadership had already taken steps to address the specific claims Manning raised against Alexis, and was guiding the matter through the party’s established internal processes.

    Gonzales’ attempt to contain the conflict behind closed doors failed, however. By Thursday evening, the San Fernando East constituency executive released its own public statement via Facebook, pushing back aggressively against Manning’s allegations. The executive noted that it normally adheres to longstanding party norms that keep internal disagreements within party structures, but argued that Manning’s actions had left it no choice but to respond publicly. It pointed specifically to Manning’s choice to name Alexis directly, repeat what it called unproven damaging claims, and push for a public judgment on a matter that was already under active review by the national party leadership, which it said demanded a forceful response.

    The executive pushed back against any implication that it avoids transparency or accountability, countering that Alexis has already fully cooperated with the ongoing internal investigation, voluntarily submitted to the party’s processes, and declined to use media influence to sway the inquiry’s outcome. The executive confirmed that the national party had already assembled a formal investigative team with clear, approved terms of reference. That team has already held interviews with Manning, Alexis, and witnesses from both sides of the dispute, and has submitted a full report of its findings and policy recommendations to the PNM leadership and General Council. The executive confirmed that party leadership is currently moving forward with implementing the report’s recommendations.

    In a sharp rebuke of Manning, the executive claimed the MP has only been willing to accept an internal investigation that operates on his own personal terms. “Personal preference is not proof of unfairness,” the statement read, adding that “He cannot demand due process while publicly undermining that process because it is not proceeding exclusively on his terms.”

    The executive also accused Manning of reviving old, unproven allegations first circulated by the opposition United National Congress — claims that have never been validated by any public factual finding — to question Alexis’ and the executive’s collective integrity. The statement called this tactic “dangerous and profoundly irresponsible,” noting that “A disclaimer cannot erase the reputational damage caused by calculated innuendo.”

    The executive reminded the public that back in November 2024, the large majority of its local party groups and the full executive endorsed Manning as the PNM candidate for the 2025 general election. “The same executive whose support was welcomed when it secured his nomination cannot suddenly become untrustworthy because it refuses to surrender its independence,” the statement said.

    Turning to electoral performance, the executive noted that the PNM won the San Fernando East seat by a comfortable 5,173-vote margin in the 2020 general election. After a full recount in the 2025 contest, that majority collapsed to just 673 votes. While the executive acknowledged that broader national political shifts contributed to this decline, it urged Manning to examine his own performance as a representative and local party leader, rather than shifting blame to local party members who helped him hold the seat. “A leader confronted by that level of electoral decline should begin with introspection and not scapegoating the volunteers and officers who helped him retain his seat,” it said.

    The executive pushed back on Manning’s calls for open democratic process, questioning why he refuses to allow the PNM’s own internal democratic structures and membership judgment to run their course. “Is the real concern that, without the support of the current executive he now attacks, his own political standing may be considerably less secure than he wishes to admit?” the statement asked. It emphasized that democracy does not require members to only accept a process when they control its terms or are guaranteed a favorable outcome.

    In one of the most pointed segments of the statement, the executive referenced the legacy of Patrick Manning, the late iconic PNM leader and former MP for San Fernando East, who is Brian Manning’s father. “The late honourable Patrick Manning’s legacy was earned through discipline, service, accessibility and performance. That legacy cannot be reduced to a surname, nor can it be used as a shield against accountability. Heritage is not a substitute for leadership,” it read.

    The executive closed by reiterating its commitment to the PNM’s internal processes: it does not claim to be perfect, nor does it seek to shield any member from legitimate scrutiny, and it has fully cooperated with the national leadership’s investigation, a commitment it says will continue. “What we will not accept, is the use of mischievous political allegations to discredit our members or divert attention from failures of representation and leadership,” the statement concluded. “San Fernando East is greater than any one officeholder, personality or surname. Our responsibility remains service to the people, loyalty to the Party and respect for the democratic institutions upon which the People’s National Movement was built.”

  • Brazilië lanceert ambitieuze AI-supercomputerprojecten en balanceert strategisch tussen VS en China

    Brazilië lanceert ambitieuze AI-supercomputerprojecten en balanceert strategisch tussen VS en China

    In a strategic move that underscores its ambition to balance diplomatic and economic ties with the world’s two largest technological powers, the Brazilian government has announced a 2.3 billion Brazilian reai (approximately $444 million) investment to expand and strengthen the country’s domestic artificial intelligence ecosystem. The initiative, which splits development work between leading firms from the United States and China, aligns with Brazil’s stated goal of avoiding overreliance on any single tech supplier or global power.

    More than half of the total budget – 1.3 billion reais ($251 million) – has been allocated to a supercomputer infrastructure project based in Rio de Janeiro, developed in partnership with Chinese tech giants Huawei Technologies and iFlytek. This facility will prioritize the creation of large language models designed for both general use and industry-specific applications across Brazil’s growing digital economy. The partnership with Chinese firms is scheduled to launch operations in July 2027.

    The remaining 1 billion reais ($193 million) will be allocated via public tender to develop a second supercomputer in the northern state of Rio Grande do Norte, a location selected for its abundant flexible energy capacity needed to power high-performance computing. Officials project this machine will rank among the 10 most powerful AI processing systems on the planet once it goes live, which is expected by the end of 2025. President Luiz Inacio Lula da Silva attended the official project announcement in the region last Thursday.

    Multiple government sources, speaking on condition of anonymity to Reuters, and Brazil’s Science and Technology Minister Luciana Santos have both indicated that U.S. chipmaking leader Nvidia is widely expected to win the tender for the Rio Grande do Norte supercomputer. Santos confirmed this expectation in an interview with local newspaper Folha de São Paulo last week.

    Brazilian authorities have emphasized that the split allocation strategy is intentional, designed to protect national data sovereignty and prevent dependence on technology from a single country or corporation. The geopolitical balancing act reflects Brazil’s current economic landscape: China, a global leader in AI development, is Brazil’s largest trading partner, while the United States remains the top source of foreign direct investment in the country, even as it has lost trade market share and imposed recent tariffs on Brazilian imports.

    Funding for both projects comes from Brazil’s National Fund for Scientific and Technological Development (FNDCT), and investment will be released in phased installments aligned with project milestones.

  • Inflatie naar 8,9 procent, maar voeding en zorg blijven huishoudens raken

    Inflatie naar 8,9 procent, maar voeding en zorg blijven huishoudens raken

    Preliminary data released Friday by Suriname’s General Bureau of Statistics (ABS) has confirmed a notable cooling of the country’s annual inflation rate in July, bringing the key metric below the 10% threshold for the first time since September 2025. The latest reading landed at 8.9% year-on-year, down sharply from June’s 10.4% and May’s peak of 11.4% in recent months, signaling a slowdown in the rapid pace of price growth that has strained household budgets across the nation.

    Despite the welcome drop in the headline inflation rate, ABS officials emphasized that the decline does not signal an overall reduction in the general price level. Month-on-month, consumer prices still rose by an average of 0.5% between June and July 2026, with the overall consumer price index climbing from 896.6 in July 2025 to 976.2 this July, up from 971.2 recorded in June. This means that while prices are not rising as quickly as they were just a few months ago, the overall cost of living remains significantly higher than it was one year ago. It should also be noted that the ABS did not collect price data for this report from three inland districts: Marowijne, Brokopondo and Sipaliwini, where local prices are already documented to be many times higher than the national average.

    Digging into the granular data reveals stark disparities in price changes across key categories of everyday consumer goods and services, with some essential items seeing double-digit or even near-double annual price hikes. Fresh produce remains the most severely affected category: fruits and vegetables rose 7.8% in price just from June to July, hitting a 35.6% year-on-year increase, one of the largest jumps recorded.

    Other food staples have also seen steep growth. Fish, fish products and shrimp rose 15.3% year-on-year, while milk, dairy products and eggs climbed 11.6% annually. Other food products and non-alcoholic beverages recorded an 18.4% annual increase. While meat and meat products dropped 3.3% in price between June and July, they still remain 8% more expensive than they were in July 2025.

    Outside of the food sector, healthcare has seen the most dramatic surge in costs. Medical and paramedical services are now 43.1% more expensive than they were one year ago, a far steeper increase than the 3% annual rise recorded for pharmaceutical products. Dining out and takeaway food have also become significantly more costly: restaurant meals are up 12.4% year-on-year, while prepared sandwiches, pastries and snacks have risen 15% annually.

  • SLM krijgt maandelijks USD 2 miljoen van staat ondanks ontbreken jaarverslagen

    SLM krijgt maandelijks USD 2 miljoen van staat ondanks ontbreken jaarverslagen

    Suriname’s government is currently grappling with a pressing governance and fiscal challenge centered on the state-owned national carrier, Surinaamse Luchtvaart Maatschappij (SLM). According to an official announcement from Finance and Planning Minister Adelien Wijnerman during a ministry press conference on Friday, the state has been transferring approximately $2 million in public funds to SLM every single month to keep the struggling airline’s operations running — yet the finance ministry has not received the company’s up-to-date annual financial reports.

    Wijnerman confirmed the ongoing monthly transfers in response to questions from attending journalists, stating plainly, “We transfer around $2 million to SLM every month.” When asked whether the ministry had obtained the required recent annual reports, she gave a clear negative answer: “No, we have not received the annual reports.”

    The lack of transparent financial disclosure leaves the government in a bind. While the finance ministry has no access to current financial data to evaluate SLM’s performance and fiscal needs, Wijnerman noted that the state has had no choice but to continue the emergency support to prevent the airline from halting operations entirely. “Up to now, unfortunately, we have had to do this,” the minister added.

    Discussions between government officials and SLM leadership over the carrier’s financial standing have been ongoing for quite some time. Following a cabinet meeting this past Wednesday, officials have scheduled an emergency emergency consultation in the near term to map out a clear path forward for the future of state financial support for the airline.

    Beyond the missing reports, the finance ministry is moving to formalize the nature of state aid to SLM. Officials want to avoid the monthly transfers being classified as non-recoverable subsidies, and have already reached an initial agreement with SLM to reclassify all current and past support as formal loans that the airline will be required to repay to the state. “We do not call this a subsidy, because you do not get subsidies back,” Wijnerman explained, noting that the ministry expects to recover the allocated public funds from SLM over time. It is also working to document all past aid disbursements to the carrier to formalize those as loans as well.

    At present, the ministry is still compiling a full accounting of total state support SLM has received over previous years, and Wijnerman said officials are not yet able to release a final aggregate figure. The current direct financing structure through the finance ministry replaced an earlier arrangement from the previous administration that routed aid through state-owned mining company Grassalco, which is no longer in effect.

    The minister also emphasized that SLM is not an isolated case: multiple state-owned enterprises across Suriname have accumulated significant backlogs in submitting required financial documentation, and SLM is among the companies with the largest delays. While the ministries of Finance and Economic Affairs have repeatedly pressured SOEs to meet their mandatory annual reporting obligations, Wijnerman acknowledged that the finance ministry has so far not implemented strong enforcement measures to compel companies to submit the required documents.

    This issue carries particular urgency for SLM due to the ongoing monthly multi-million-dollar public outlay. Wijnerman stressed that the current transfers are emergency support to address SLM’s immediate crisis, not regular budgeted subsidies, which makes a formal long-term arrangement all the more critical. The ministry has already drafted preliminary documents to formalize the loan structure, which will be discussed with SLM leadership in upcoming talks.

    If current monthly support levels are maintained for a full calendar year, total public funding to SLM will reach roughly $24 million. The upcoming emergency consultation will allow the government to decide how long this financing can continue, under what terms it will be provided, and what repayment framework SLM will follow to return public funds to the state.