分类： business

A significant increase in alcohol duties has cast a shadow over Trinidad and Tobago’s holiday season, severely impacting the production and pricing of traditional Christmas delicacies. Finance Minister Davendranath Tancoo’s October announcement of a 100% customs duty hike on rum and spirits has created ripple effects throughout the beverage and culinary industries.

The controversial tax policy has particularly affected two beloved seasonal specialties: black cake and ponche a creme. These alcohol-dependent treats have become substantially more expensive to produce, forcing artisans and small businesses to make difficult decisions. Dawn Ramkissoon-Ali, proprietor of Aurora Fine Delights, exemplifies this trend, choosing to completely withdraw ponche a creme from her seasonal offerings rather than impose dramatically higher prices on customers.

Industry-wide adaptation strategies have emerged in response to the economic pressure. Some enterprises, like Cake Zone operated by Amrika Singh, implemented moderate price increases while leveraging temporary price reductions from Angostura Holdings Limited. Others employed creative workarounds—Kathy Collins of Copa de Leche resorted to alternative rum brands, while Shirley Roban utilized pre-tax alcohol purchases through advanced fruit soaking.

The cost escalation extends beyond alcohol inputs. Producers report concurrent price increases in essential ingredients including dairy products, eggs, and even packaging materials. Olatunde Celestin of Tunde’s Treats noted that condensed milk prices have risen approximately 38% over five years, compounding the financial challenges.

Despite these economic headwinds, consumer loyalty has remained remarkably resilient. Established customer bases have demonstrated understanding and continued support, prioritizing quality and tradition over moderate price increases. This consumer dedication has provided crucial stability for small businesses navigating the challenging economic landscape while maintaining Trinidad’s cherished Christmas culinary traditions.

Gerald Ramdeen, Chairman of Trinidad and Tobago’s National Gas Company (NGC), has publicly justified sweeping budget cuts implemented by the state-owned energy giant. Framing the measures as essential corrective action, Ramdeen attributed the need for austerity to years of financial mismanagement under the previous People’s National Movement (PNM) administration.

While NGC reported a substantial $1.6 billion profit for 2024, Ramdeen insisted this figure requires critical contextual analysis. He revealed that the company’s average return on assets stood at a mere 1.6% over the past five years, with return on equity averaging 2.7%—figures he characterized as profoundly inadequate for a national asset valued at $43 billion. More strikingly, the chairman disclosed that concealed within the headline profit was a catastrophic $1 billion loss accumulated by three foreign entities established under the preceding government.

“The record of the NGC and its subsidiaries under the PNM reveals facts that are stubborn things,” Ramdeen stated, directly challenging former energy officials to publicly account for the vanished billion dollars.

The chairman accused the previous administration of transforming NGC from a gas company into what he derisively termed the “National Grants Company,” alleging it served as an indiscriminate funding source for activities far beyond its core energy mandate. This fiscal indiscipline, he claimed, persisted over nine years and resulted in NGC declaring unprecedented after-tax losses of $316.2 million in 2020 and $1.3 billion in 2023.

In response, NGC’s current board has implemented drastic reductions across community, educational, and cultural programs for 2025. Internal budget documents reveal the elimination of numerous initiatives, including:

– The complete defunding of the $3.8 million i2A youth development program serving fenceline communities
– Termination of steelband sponsorships affecting Couva Joylanders, La Brea Nightingale, and Tobago’s Steel X Plosion
– Discontinuation of $7.45 million in sports sponsorships, including the popular “Right on Track” athletics program
– Elimination of support for the Bocas Lit Fest, Trinidad’s premier literary festival
– Reduction in human and social development funding by $1.375 million

These cuts have ignited substantial public backlash and political controversy. Opposition MP Stuart Young condemned the reductions as an “unjustifiable and unforgivable assault on our culture,” particularly emphasizing the cultural significance of steelband funding. Pan Trinbago president Beverley Ramsey-Moore described the move as “a devastating blow” executed without consultation.

Despite slashing cultural and social programs, the board initially retained certain Christmas commitments including a $1.5 million staff dinner and vouchers for 630 employees, though subsequent decisions significantly reduced holiday event expenditures. The company also maintained a $5,000 gift to 650 employees for NGC’s 50th anniversary celebrations.

Ramdeen concluded that while NGC acknowledges its corporate social responsibilities, future initiatives will be executed “in a prudent and frugal manner” aligned with the company’s primary mission: gas aggregation and sales profitability for the benefit of Trinidad and Tobago’s citizens.

The picturesque shores of Tobago’s Charlotteville waterfront remained unusually tranquil during the peak Christmas season, presenting a stark contrast to the typical holiday bustle. With minimal local activity and a conspicuous absence of international visitors, the scene encapsulated the severe challenges facing Tobago’s hospitality sector.

Tourism industry leaders have identified dual catalysts for this pronounced downturn: escalating military tensions between the United States and Venezuela, coupled with the ongoing state of emergency declaration. Reginald MacLean, President of the Tobago Hotel and Tourism Association, confirmed substantial declines in both advance bookings and actual tourist arrivals during what should be the island’s most profitable period.

MacLean, who simultaneously serves as general manager of Blue Waters Inn in Speyside, provided concrete metrics illustrating the sector’s struggles. His establishment operated at approximately 70% capacity during the critical holiday period—a significant reduction from the complete occupancy achieved during the same timeframe in 2024.

Industry-wide assessments confirm this pattern extends across the island. Alpha Lorde, former association president and current general manager of Mt Irvine Bay Hotel, characterized both the 2024 and 2025 Christmas seasons as ‘fairly dismal’ with no hospitality operators reporting strong performance.

Transportation infrastructure limitations have exacerbated the situation. MacLean emphasized that constrained flight availability and reduced ferry services have created fundamental capacity constraints preventing hotel occupancy recovery.

Industry executives have expressed frustration with governmental support levels. Despite official rhetoric about economic diversification beyond hydrocarbon dependence, tourism stakeholders perceive insufficient concrete action. Multiple attempts by Newsday to obtain comments from Chief Secretary Farley Augustine and Tourism Secretary Tashia Burris yielded no response.

The industry’s challenges accumulated throughout 2025, beginning with an initial state of emergency, progressing through electoral transitions and governmental changes, and culminating with renewed emergency declarations and geopolitical complications. Tourism professionals maintain cautious optimism that 2026 may bring improved circumstances and renewed visitor interest to Tobago’s hospitality sector.

Amidst escalating diplomatic tensions between Caribbean leaders, the Caribbean Community Private Sector Organisation (CPSO) has issued a strong declaration of support for regional economic integration and the Caricom Single Market and Economy (CSME). The organization, serving as the umbrella body for seven national private sector associations, emphasized the critical importance of maintaining unity within the 15-member regional bloc.

The CPSO highlighted the substantial economic benefits derived from the CSME framework, noting its significant contributions to intra-regional trade, supply chain reinforcement, and foreign exchange earnings across member states including Trinidad and Tobago. Since attaining associate institution status within Caricom, the private sector group has actively collaborated with business organizations to advance projects aligned with CSME objectives.

This reaffirmation of commitment comes against the backdrop of heated exchanges between Antigua and Barbuda Prime Minister Gaston Browne and Trinidad and Tobago Prime Minister Kamla Persad-Bissessar regarding Caricom’s stance toward Venezuela. Persad-Bissessar had previously accused certain Caricom members of aligning with what she termed ‘the Maduro narco government,’ while expressing concerns about Venezuela’s territorial threats toward Guyana and Trinidad and Tobago.

The CPSO statement strategically emphasized the complementary nature of Caricom’s trading relationships, noting that regional integration and strong external partnerships—particularly with the United States as Caricom’s largest external trading partner—are mutually reinforcing rather than contradictory. The organization stressed that in times of global economic uncertainty, private sector success depends fundamentally on confidence, stability, and constructive engagement among member states.

Concluding with a call for solidarity, the CPSO endorsed the ‘stronger together’ principle, recognizing Caricom as essential for transforming regional vulnerabilities into assets through strategic global economic integration. The statement was jointly endorsed by private sector organizations from Jamaica, Barbados, Guyana, OECS, Suriname, and Belize.

In a landmark employment ruling, the High Court has delivered a complex judgment that simultaneously condemned both a medical company’s wrongful termination practices and its former director’s financial misconduct. Justice Jacqueline Wilson presided over the contentious case between The Surgical Specialist Centre Ltd and its ex-managing director Elizabeth Kelly, revealing a troubling pattern of informal financial management within the organization.

The court determined that while Kelly must reimburse $215,724.05 for unauthorized payments from company accounts, her 2022 dismissal was legally unjustified. The case emerged from the complete deterioration of both professional and personal relationships between Kelly and Dr. Alan de Freitas, fellow director and equal shareholder in the medical facility established in 2016.

Justice Wilson’s examination uncovered that the company’s financial operations lacked formal structure, with both principals routinely utilizing corporate funds for personal expenses without clear guidelines or consistent application. This informal approach to financial management ultimately undermined the company’s allegations of fiduciary breach against Kelly.

“Both parties have admitted to using company funds for personal expenses,” Justice Wilson noted in her judgment, emphasizing that the absence of defined financial protocols and employment contracts complicated the determination of contractual breaches.

The court awarded Kelly $120,000 in damages for wrongful termination—equivalent to six months’ salary—though this amount will be deducted from her required repayment to the company. Additionally, both parties were assigned reciprocal cost payments, with Kelly ordered to pay $41,358 in prescribed costs while the medical center must pay $27,000 toward her counterclaim.

Legal representation saw Naline Sharma and Andrea Goddard advocating for Surgical Specialist Ltd, while Jean Louis Kelly and Natalie King represented the former managing director. The case highlights the critical importance of establishing formal financial controls and employment agreements within corporate structures, particularly when personal relationships intersect with business operations.