分类： business

In a significant development, prominent businessman Danny Guerra was apprehended on November 20 under the state of emergency (SoE) provisions by the Special Investigations Unit. Guerra, the manager of D Guerra Ltd and owner of multiple companies under the D Guerra Group of Companies, faces allegations of unlawful aggregate processing without a license from the Ministry of Energy. This arrest follows a major police operation on October 9, which targeted an illegal quarry in Manuel Congo, Guanapo. The operation led to the shutdown of the site and the confiscation of a multi-million-dollar processing plant, trucks, and heavy machinery. Guerra, along with his son Garvin Guerra and 16 others, was detained during the raid. Earlier, on October 11, Guerra and his son had been charged and granted $50,000 bail each by a Justice of the Peace. Additionally, on October 10, Guerra, his son, a supervisor from D Guerra Ltd, and Carmino Ltd director Rolf Ferriera were taken to St Augustine Private Hospital under police guard for medical treatment after reportedly falling ill during detention. The case has drawn significant attention due to Guerra’s prominent business stature and the scale of the alleged illegal operations.

InfoLink Services, the interbank agency responsible for ACH electronic transfers and the Linx cash payments system, marked its 30th anniversary on November 14, 2025, at the Hyatt Regency in Port of Spain, Trinidad and Tobago. The event highlighted both the agency’s achievements and the challenges it faces in an evolving electronic payments landscape. Central Bank Governor Larry Howai praised InfoLink for its critical role in ensuring smooth, secure, and efficient payment processing, calling it a cornerstone of the country’s retail payment system. However, he also emphasized the need for innovation to meet rising consumer demands for faster, more convenient, and secure payment options while maintaining financial stability and inclusion. InfoLink, which began operations in 1994, introduced Linx in 1995, revolutionizing cashless transactions in Trinidad and Tobago. Over the years, it has expanded its services to include Automated Clearing House (ACH) electronic transfers and electronic check clearing, managing 41% of the country’s electronic payments. Despite its success, InfoLink faces increasing competition and the need to adapt to advanced technologies like AI, which are transforming both payment systems and the methods criminals use to exploit them. Glynis Alexander-Tam, InfoLink’s general manager, stressed the importance of collaboration and innovation to meet customer expectations for instant payments and enhanced security.

NCB Merchant Bank (TT) Ltd has called on small and medium-sized enterprises (SMEs) to bolster their governance and financial management practices to enhance access to financing and foster sustainable growth. This message was delivered at the SME Power Breakfast event in St Augustine, organized in partnership with the Greater Tunapuna Chamber of Industry & Commerce (GTCIC). The event convened business leaders, policymakers, and investors to explore how transparency and structured management can build SME resilience and attract investment through various financial instruments, including loans, equity, and receivables financing. Christopher Buchanan, Senior Vice President of Investment Banking at NCB Capital Markets Ltd, emphasized that while many entrepreneurs are driven to scale their businesses, sustainable growth requires more than ambition. He stated, ‘Governance is what transforms a good idea into a credible business. Investors and lenders look for discipline – accurate reporting, sound management, and accountability. When these elements are in place, capital becomes more accessible.’ The event was particularly timely, following the release of the 2025 National Budget, which introduced new compliance measures and fiscal adjustments requiring businesses to strengthen their financial practices. Ramon Gregorio, President of the Tunapuna Chamber, praised NCB Merchant Bank’s collaborative efforts, highlighting the importance of dialogue between the private sector and financial institutions. He noted, ‘No business should operate in isolation. Your success depends on the ecosystem around you – banks that understand your risk profile, regulators that enable innovation, and businesses that open doors to opportunity.’ SMEs, which constitute 95% of registered businesses and contribute nearly 30% of Trinidad and Tobago’s GDP, often face significant financing challenges. Buchanan underscored NCB Merchant Bank’s commitment to closing this gap by advocating for stronger governance, which he believes will make SMEs more investible and resilient.

The Unicomer Group, a leading retail conglomerate, has unveiled its largest Courts Megastore in Trinidad and Tobago, marking a significant milestone in its regional operations. The new store, located on Don Miguel Road in Barataria, spans 4,600 square feet, offering 30% more retail space than its predecessor. The facility also includes a Starbucks outlet, enhancing its appeal as a one-stop shopping destination. The project, which cost nearly $180 million and took 28 months to complete, has created over 60 direct and indirect jobs, adding to the more than 1,000 jobs Courts has generated in the past two decades. During the grand opening on November 19, Unicomer executives expressed their commitment to the Trinidadian market despite ongoing challenges such as the foreign exchange (forex) shortage. Guillermo Siman, executive vice president of Unicomer Group, revealed that the company had declined an offer from Ansa McAl to acquire Standard Distributors, a major competitor, due to overlapping store locations. Standard Distributors, a long-standing Trinidadian business, was recently sold to fintech company Term Finance, ending its 80-year legacy. Both Guillermo and Felix Siman, vice president and managing director of Unicomer’s Caribbean operations, emphasized the importance of competition and market growth. Felix highlighted Unicomer’s strategies to navigate the forex crisis, leveraging its multinational capacity to import products while also expanding partnerships with local vendors. He expressed optimism that the government would address forex constraints to support local businesses. The company’s continued investment in Trinidad and Tobago, including plans to replace the old Megastore with a new retail plaza, underscores its confidence in the market’s future. Felix reiterated Unicomer’s commitment to providing world-class products and services, ensuring that Courts remains a trusted brand in the region.

The Central Statistical Office (CSO) has revealed that the inflation rate for October 2025, measured by the percentage change in the all items index compared to October 2024, stood at 0.4%. This marks a decline from the previous period, September 2025, which recorded a 0.2% inflation rate compared to September 2024. The all items index for October 2025 was 124.9, reflecting a 0.4% decrease from September 2025. Notably, the food and non-alcoholic beverages index saw a marginal drop of 0.1%, from 152.4 in September to 152.2 in October. Price reductions in key items such as Irish potatoes, pumpkin, pimentos, hot peppers, table margarine, eddoes, onions, tomatoes, ochroes, and fresh steak contributed to this decline. However, price hikes in cucumber, chive, frozen whole chickens, mixed fresh seasoning, fresh whole chickens, bodi, mayonnaise, full-cream powdered milk, celery, and fresh king fish partially offset these reductions. Further analysis showed decreases in clothing and footwear (0.1%), home ownership (0.1%), transport (2%), and recreation and culture (1.9%). Conversely, prices rose for tobacco (0.3%), household equipment and routine house maintenance (0.2%), hotels, cafés, and restaurants (0.6%), and miscellaneous goods and services (0.4%). These mixed trends highlight the complex dynamics influencing the inflation rate.

The recent closure of Nutrien’s operations in Trinidad has sent shockwaves through the local economy, leaving at least 600 workers unemployed. The global chemicals producer had been a cornerstone of the Point Lisas industrial estate for nearly 30 years, serving as a significant foreign exchange generator. The shutdown, while disheartening, has revealed a complex web of consequences and opportunities. Gerald Ramdeen, Chairman of the National Gas Company (NGC), highlighted a silver lining during a November 17 interview, noting that other producers at Point Lisas are benefiting from the redistribution of resources. ‘Almost all plants on the estate are exceeding their daily contractual quantities due to this redistribution,’ he stated. However, Ramdeen’s optimism is tempered by the challenges he faces, such as securing alternative carbon dioxide supplies for the food and beverage industry. Companies like Proman have stepped in to fill the gap, but the long-term implications remain uncertain. The fallout stems from a contentious $500 million invoice issued by an NGC subsidiary for port and pier fees, a move that has been criticized for its lack of transparency and prior warning. This abrupt action has raised concerns about the government’s approach to managing longstanding business relationships. Energy Minister Roodal Moonilal’s earlier statements about revitalizing strategic partnerships with Nutrien contrast sharply with Ramdeen’s current stance, highlighting a lack of cohesion among officials. Moving forward, a clearer roadmap for Point Lisas post-Nutrien is essential to restore confidence and ensure economic stability.

Agostini has announced its fifth extension of the closing date for its takeover bid of Prestige Holdings, pushing the deadline to January 20, 2026. The extension was disclosed in a notice issued to the Trinidad and Tobago Stock Exchange on November 18, which was subsequently published on the exchange’s website and in local newspapers. The delay is attributed to the pending approval of regulatory bodies, including the TT Fair Trade Commission, which is reviewing the merger application. Agostini’s share-swap offer, which proposes acquiring Prestige Holdings by trading one Agostini share for every 4.8 Prestige Holdings shares, will remain open until the new deadline. The company has assured shareholders that it will acquire and pay for all deposited shares within the timeframe mandated by securities law. Initially set to close on July 20, the offer has seen multiple extensions, with previous deadlines extended to August 5, September 5, October 21, and November 18. Despite securing the minimum required shareholding on September 10, Agostini continues to navigate regulatory hurdles to finalize the acquisition.