First Citizens Bank has recently celebrated the academic excellence of 16 young achievers through its Neo Education Awards. This annual event, held to honor student account holders nationwide, underscores the bank’s dedication to fostering youth empowerment and financial literacy. The Neo account, a savings product tailored for individuals from birth to age 25, aims to instill sound financial habits early in life. This year, the bank doubled the number of awardees from eight in 2024 to 16, reflecting its growing commitment to education and youth development. Recipients received cash prizes directly deposited into their Neo accounts, ranging from $1,000 for Secondary Entrance Assessment (SEA) achievers to $6,000 for top tertiary-level performers. CSEC and CAPE students were awarded $2,500 and $3,000, respectively. Lyndon Balkran, Acting Senior Manager for Market Development, Intelligence, and Promotions, praised the awardees, emphasizing the bank’s belief in nurturing a financially confident generation. Parents and students expressed gratitude, viewing the ceremony as both a celebration of academic success and a motivation to pursue excellence. The Neo Education Awards are a key component of First Citizens’ strategy to promote lifelong financial awareness, bridging academic achievement with responsible money management.
标签： Trinidad and Tobago
特立尼达和多巴哥
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Morris slams PM’s ‘mamagism’, Duke excited
Prime Minister Kamla Persad-Bissessar’s inaugural address to the Tobago House of Assembly (THA) on November 4 has sparked a spectrum of reactions among stakeholders. Speaking at the Assembly Legislature in Scarborough, Tobago, the Prime Minister unveiled a series of initiatives aimed at bolstering the island’s financial autonomy and economic prospects. Key among these was the introduction of an export licence to market Tobago’s aggregate regionally, a move designed to generate foreign exchange and stimulate economic growth. Additionally, Persad-Bissessar pledged to implement a fair-share model for budgetary allocations and collaborate with the THA to establish a localised police force to address crime on the island. However, THA Minority Leader Kelvon Morris dismissed the speech as politically motivated, accusing the Prime Minister of prioritizing the upcoming THA elections over pressing issues affecting both Tobago and Trinidad. Morris criticized the lack of progress on autonomy, labeling the address as a repetition of long-standing promises. In contrast, Progressive Democratic Patriots (PDP) leader Watson Duke praised the initiatives, describing them as significant steps toward greater self-determination. He highlighted the potential economic benefits of the export licence and the enhanced security a localised police force could bring. The Tobago Chamber of Industry and Commerce also welcomed the focus on Tobago, though it emphasized the importance of effective implementation and transparency.
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Standard Distributors sale amid retail sluggishness
The retail sector continues to face significant challenges, as highlighted by the recent developments surrounding Standard Distributors, a long-standing furniture and appliance retailer. Established in 1945, Standard Distributors has been a household name for decades. However, on November 1, all its branches, including one in Barbados, were reportedly closed. Ansa McAL, the parent company, announced the sale of Standard Distributors to Term Finance, which plans to transform the brand into a dedicated credit provider and e-commerce platform under the new name Standard Credit. The transaction, expected to be finalized by December 31 pending approvals, aims to leverage Standard’s 80-year expertise in hire-purchase agreements to offer innovative credit products. This move comes amidst a broader decline in the retail sector, exacerbated by the lingering effects of the COVID-19 pandemic. The Central Statistical Office reported a 7.8% drop in the index of retail sales for household appliances and furnishings in the first quarter of 2025, with the overall retail index falling by 3.7%. Central Bank data further indicates a consistent decline in retail sales since 2024, reflecting reduced consumer spending and low confidence. While online shopping platforms like Amazon and Shein have impacted physical stores, high shipping costs for bulky items had previously given furniture retailers an edge. However, the sector now faces additional pressures, including unmet housing demand and consumers’ reluctance to spend. The government’s efforts to stimulate economic growth through sustained spending and institutional strengthening may provide some relief, but the ongoing challenges in the furnishings sector underscore the depth of the issue.
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Guardian Group pledges US$312k hurricane relief
In a significant move to aid Jamaica’s recovery from the devastation caused by Hurricane Melissa, the Guardian Group Charitable Foundation has committed US$312,000. This donation, one of the largest single contributions from Trinidad and Tobago (TT), is part of the broader ‘Building a Better Jamaica Fund,’ a coordinated recovery initiative led by the National Commercial Bank Jamaica Ltd (NCB) and managed by the NCB Foundation. The fund has already raised approximately US$2.8 million, including an initial US$1.25 million from NCB, supplemented by partner contributions and Guardian Group’s substantial donation. Hurricane Melissa, which struck Jamaica on October 28, left widespread destruction across the island, damaging infrastructure, agriculture, and housing, and displacing thousands of residents. The Jamaican government declared a national disaster, prompting a large-scale relief and reconstruction effort supported by regional governments, businesses, and aid agencies. Guardian Group’s contribution will support both immediate relief and long-term rebuilding, working through experienced partners such as the American Friends of Jamaica, Food for the Poor Jamaica, Unicef Jamaica, and the Global Empowerment Mission. Shinelle Grant-Sealey, Guardian Group’s vice-president for environment, social and governance, emphasized the organization’s regional commitment to recovery and resilience, stating that the donation is an immediate investment in stability for affected families and institutions. Guardian Group has also provided care packages and internal support for its employees in Jamaica impacted by the storm. With operations across TT, Jamaica, Barbados, and the Dutch Caribbean, the group remains dedicated to helping Caribbean communities rebuild and recover.
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Stakeholders on PM’s project-based funding: What is Tobago’s vision?
Businesswoman Diane Hadad, former chair of the Tobago branch of the TT Chamber of Industry and Commerce, has praised the government’s initiative to shift towards project-based budget allocations for Tobago. This proposal, unveiled by Prime Minister Kamla Persad-Bissessar during a special sitting of the Tobago House of Assembly (THA) on November 4, aims to replace the current population percentage-based budgeting system with a more equitable and transparent model. However, Hadad emphasized the necessity of a comprehensive development plan for Tobago before any fiscal policy changes are implemented. Speaking to Newsday on November 5, she highlighted the island’s lack of a clear strategy for its 116 square miles, which she believes has hindered its progress. “Tobago needs to articulate its vision and goals before discussing autonomy or funding,” she stated. Hadad compared the situation to seeking a bank loan, where a solid business plan is essential to secure investment. She also criticized the past two decades of PNM-led governance, noting that Tobago’s infrastructure and human capital have not significantly improved despite budget allocations. Meanwhile, Mariano Browne, former trade minister and current CEO of the Arthur Lok Jack School of Business, cautioned that the Prime Minister’s proposal lacks detailed implementation strategies. He pointed out the nation’s strained fiscal capacity, with expenditures exceeding revenues, and questioned the feasibility of additional funding for Tobago. Browne explained that an equalization fund aims to redistribute resources to reduce regional disparities but stressed the importance of objective criteria for project selection and funding. He raised concerns about project viability, including technical, financial, operational, market, and legal considerations. While the shift to project-based budgeting is seen as a positive step, both Hadad and Browne agree that meticulous planning and transparency are crucial for Tobago’s sustainable development.
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Supply Solutions strengthens SME procurement
Supply Solutions Ltd, a prominent player in engineering and construction, is now positioning itself as a leading procurement service provider, particularly for small to medium-sized enterprises (SMEs). The company is broadening its horizons by targeting both regional and international markets while reinforcing its domestic presence. CEO Nicholas Ottley emphasized the company’s unique approach: \”My product is the ability to take your problem and implement the mechanism to solve it.\
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General Accident acquires Beacon Insurance
In a landmark move reshaping the Caribbean insurance landscape, General Accident Insurance Co (Jamaica) Ltd has finalized its acquisition of Beacon Insurance Company Ltd. The transaction, completed on October 31, saw General Accident’s parent company, Musson (Jamaica) Ltd, acquire 100% of Beacon’s shares. Once regulatory approvals are secured, Beacon will operate as a subsidiary of General Accident, marking a significant expansion of the latter’s presence in Trinidad and Tobago (TT) and Barbados, while also granting access to new markets in Dominica, Grenada, St Kitts, St Lucia, and St Vincent. The merger is projected to elevate General Accident’s annual gross written premiums to over J$32 billion. Despite the acquisition, both brands will continue to operate independently in TT and Barbados, with Beacon’s existing management, led by CEO Christopher Woodhams, remaining intact. Woodhams will now report directly to General Accident Group CEO Sharon Donaldson and oversee the combined operations in TT. Additionally, Woodhams and Beacon director Christian Hadeed will join General Accident’s board, while the Hadeed family, founders of Beacon, will become minority shareholders in General Accident. This strategic partnership aims to preserve Beacon’s core values and ensure continuity within the broader regional group. Gerald Hadeed, Beacon’s founder, expressed confidence in the alignment of both companies’ insurance principles, emphasizing their shared commitment to client service and investment in people and technology. General Accident chairman PB Scott praised Beacon’s leadership and performance, highlighting the opportunity to create a powerful platform across the Caribbean. Founded in 1981, Beacon has been a dominant player in TT’s insurance sector, specializing in motor, property, and casualty insurance. General Accident, headquartered in Kingston and listed on the Jamaica Stock Exchange, has steadily expanded its regional footprint through strategic acquisitions.
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CoP on SoE detainees: Keep them inside
Commissioner of Police (CoP) Allister Guevarro has expressed strong support for the ongoing detention of 98 individuals under preventative detention orders (PDOs) during Trinidad and Tobago’s State of Emergency (SoE). The SoE, declared on July 18 and extended twice, has led to a notable decline in crime rates, with homicides dropping by 42%, violent crimes by 19%, and other serious offenses by 11%. Guevarro emphasized that the detainees, including a police officer and a prison officer, will remain in custody as long as the SoE persists, though he acknowledged their eventual release is inevitable. The CoP highlighted the effectiveness of the SoE in curbing crime but clarified that PDOs are preventive measures, not indictments of criminal activity. Prime Minister Kamla Persad-Bissessar assured that detainees retain access to justice, including the right to appeal to a tribunal or court. Deputy Commissioner of Police Suzette Martin reported over 2,000 charges filed since the SoE began, underscoring the collaborative efforts of law enforcement agencies. Guevarro urged public cooperation, warning that silence perpetuates crime, and emphasized the need for sustained vigilance to maintain the progress achieved.
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Juteram falls short in Caribbean badminton final; King wins two titles
The Caribbean Regional Badminton Confederation Senior 2025 tournament concluded on November 4 at the National Racquet Centre in Tacarigua, Trinidad and Tobago, with thrilling matches and unexpected turns. In the men’s singles final, Barbadian Kennie King staged a remarkable comeback to defeat Trinidad and Tobago’s Vance Juteram. Juteram initially took the first set 21-13, but King rallied to secure the next two sets 21-16 and 21-13, claiming the title. Despite the loss, Juteram expressed satisfaction with his performance, stating, ‘Very, very happy. Could not ask for anything better.’
In the women’s singles final, Trinidad and Tobago’s Amara Urquhart emerged victorious after her opponent, Guyanese Priyanna Ramdhani, suffered a knee injury. Ramdhani had won the first set 21-14 and was leading 13-11 in the second when the injury occurred, forcing her to withdraw. This unfortunate incident also led to the cancellation of the women’s doubles final, where Ramdhani was set to partner with Trinidad and Tobago’s Chequeda De Boulet against Nekeisha Blake and Barbadian Sabrina Scott.
King continued his winning streak by teaming up with Shae Martin to clinch the men’s doubles title against Jamaica’s Kenneth Anglin and Matthew Yee Grant. The Barbadian duo triumphed in a grueling first set 30-28, followed by a 21-18 victory in the second. Meanwhile, the mixed doubles final saw Jamaica’s Anglin and Breanna Bisnott defeat Trinidad and Tobago’s Travis Sinanan and De Boulet 21-15, 21-17.
The tournament sets the stage for the TT International 2025 Badminton tournament, which begins on November 5 at the same venue, featuring teams from across the Caribbean.
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Social Development Ministry denies financial ties with Red Cross
The Ministry of People and Social Development in Trinidad and Tobago has clarified that it currently has no active financial relationship with the Trinidad and Tobago Red Cross Society (TTRCS). This decision stems from the TTRCS’s failure to meet compliance requirements, particularly the timely submission of audited financial statements. In a media release dated November 4, the ministry acknowledged that the TTRCS is in the process of updating its records and has recently submitted audited statements for the years 2019 to 2022. The ministry’s statement was issued in response to recent media reports concerning the TTRCS’s financial challenges. The ministry emphasized that once full compliance is achieved, it will assess the organization using established monitoring and evaluation procedures to determine future funding considerations. Both entities remain committed to their shared mission of supporting the most vulnerable members of society, a commitment reaffirmed during meetings earlier this year. On November 1, newly elected TTRCS vice president Edward Moodie revealed that the organization currently has no funds during the reopening of the Red Cross South Branch on Ruth Avenue, San Fernando. Moodie stated that the TTRCS is owed over a million dollars and may need to explore legal options to recover these funds. He also highlighted operational issues, including a breakdown in ambulance services and the need to renegotiate several contracts, particularly the Tobago contract, which he deemed financially unsustainable. The ministry’s stance echoes a June 4 media release, which addressed governance and management issues within the TTRCS. At that time, the ministry described the TTRCS as a key civil society actor but noted the absence of a financial relationship due to compliance issues. Both agencies remain committed to serving the most vulnerable in society, and the ministry anticipates that the TTRCS will continue to uphold principles of good governance, accountability, fairness, equity, and equality.