During a meeting of the Standing Finance Committee of the House of Representatives on October 23, Port of Spain North/St Ann’s West MP Stuart Young raised critical questions regarding the allocation of funds for small guest houses and the regulation of the scrap metal industry. Young directed his inquiries to Trade, Investment, and Tourism Minister Satyakama Maharaj, emphasizing the potential of small guest houses to generate foreign exchange revenues for Trinidad and Tobago (TT). He questioned whether the $1.5 million allocated to the ministry was adequate to support these establishments, particularly given the rising costs of imported materials due to recent tariffs. Maharaj responded by outlining the ministry’s targeted approach to hotel development, citing ongoing projects such as Tradewinds in San Fernando and Crews Inn in Chaguaramas. He also mentioned efforts to attract private sector investment, including potential collaborations with foreign hotel chains like Best Western. However, Young expressed concerns that the current funding might not suffice for smaller guest houses seeking assistance throughout the year. On the topic of the scrap metal industry, Young inquired about the adequacy of the $400,000 budget for regulatory measures, recalling past efforts to curb criminal activities in the sector. Maharaj assured that the allocated funds would be sufficient, with additional support available if needed. The minister also highlighted the ministry’s broader mission to diversify the economy and strengthen the non-energy sector through strategic planning and robust management.
标签: Trinidad and Tobago
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TTSE announces shift to T+1 trade settlement by 2026
The Trinidad and Tobago Stock Exchange (TTSE) is set to transition to a one-day trade settlement cycle (T+1) by 2026, as part of its broader efforts to modernize operations and align with global standards. CEO Eva Mitchell made the announcement during her opening remarks at the TTSE’s 2025 Capital Markets and Investor Conference held at the Hyatt Regency in Port of Spain on October 24. Mitchell highlighted that the exchange had already reduced its settlement cycle from T+3 to T+2 in 2024, and the move to T+1 will further enhance market efficiency. The T+1 system, already adopted by major exchanges like the New York Stock Exchange, will reduce settlement time to a single day, improving liquidity and minimizing counterparty risk. Mitchell emphasized that this transition aligns the TTSE with global best practices for advanced exchanges. Alongside the settlement cycle change, the TTSE is rolling out a series of technology upgrades, including an updated depository portal set to launch in November. The new portal promises faster processing, smarter systems, and enhanced scalability, while also enabling the collection of valuable data to better understand market trends and opportunities. Additionally, the exchange introduced TOBI, a user-friendly digital assistant designed to help investors access information and ask questions about the market and its services. Mitchell also revealed that the TTSE has completed infrastructure for a new Spot Market to support derivatives trading, marking a first for the Caribbean. The exchange is also exploring the introduction of a ‘market maker’ framework to improve liquidity and price stability. In line with its commitment to sustainability, the TTSE has partnered with IDB Invest to develop a Green Bond Guide and joined the United Nations Sustainable Stock Exchanges (UNSSE) Initiative. Mitchell acknowledged the subdued local market but urged stakeholders to focus on long-term growth, emphasizing the importance of modernizing the market, embracing innovation, and fostering transparency and trust.
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NGC finds alternative CO2 for beverages amid Nutrien shutdown
The National Gas Company of Trinidad and Tobago (NGC) has successfully secured alternative sources of carbon dioxide (CO2) for the food and beverage industry, following the abrupt shutdown of Nutrien, the primary supplier. The announcement, made on October 24, comes in response to widespread concern over potential disruptions to CO2 supplies, which are critical for various domestic and industrial applications. Nutrien’s closure on October 20 had sparked fears of a shortage, particularly affecting Massy Gas Products Trinidad Ltd, the main distributor of CO2 to local manufacturers. NGC has collaborated with key stakeholders, including Proman Group and Plipdeco, to ensure a seamless transition. Proman has committed to supplying the same volume of CO2 previously provided by Nutrien, with no price increases for customers. Engineering pipeline tie-ins are currently being installed, with completion expected by October 27. NGC expressed regret over Nutrien’s indifference to the potential hardships caused by its shutdown but emphasized that the crisis has been averted. Meanwhile, former Energy Minister Stuart Young criticized the government’s handling of the situation, accusing it of aggressive tactics that led to Nutrien’s closure and warning of broader regional impacts on CO2-dependent industries.
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Education Ministry: Book grant review doesn’t mean discontinuation
The Ministry of Education has announced a comprehensive review of its School Supplies and Book Grant initiative, a program designed to support students in government and government-assisted primary and secondary schools. This review is part of the ministry’s broader efforts to modernize education in line with the Education Strategic Plan 2025-2030, a national framework guiding education reform over the next five years. The initiative, which provides essential learning materials to students, will not be discontinued but will be enhanced to ensure equity, efficiency, and alignment with emerging technologies, including AI-supported textbooks and adaptive digital resources. Education Minister Dr. Michael Dowlath emphasized that the review reflects a deliberate, evidence-based approach to improving education support systems. He stated, ‘Our responsibility is to ensure that every dollar spent delivers measurable improvement in student learning outcomes.’ The decision to review the program follows a period in which no allocations were made in the annual budget, prompting the ministry to seek funding through the mid-year budget process. In the 2024 cycle, approximately 27,000 applications were received, with 20,000 grants disbursed. The ministry secured funding for 20,000 grants of $1,000 each during the 2025 mid-year budget review. The current review aims to strengthen the program’s design and delivery, ensuring timely and efficient allocations that align with national education priorities. The ministry reiterated its commitment to fiscal prudence, transparency, and accountability in all education spending.
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Martin Daly: Chief Justice appointment ‘botched’
The recent appointment of Justice Ronnie Boodoosingh as Chief Justice has sparked significant controversy, with concerns raised about the legitimacy and transparency of the process. The Law Association of Trinidad and Tobago (LATT) and former independent senator Martin Daly SC have both criticized the hastened and truncated consultation process.
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Penny: Consultation on CJ was rushed
Opposition Leader Pennelope Beckles has voiced concerns over the lack of adequate consultation in the appointment of the new Chief Justice, Ronnie Boodoosingh. Speaking to the media outside the Red House in Port of Spain on October 24, Beckles emphasized that her objections were not about Boodoosingh’s qualifications but rather the rushed timeline of the process. She highlighted that a letter with errors was presented at 6:30 PM while she was in Parliament, corrections were sought by 8:30 AM the next morning, and the appointment was finalized by 2 PM the same day. Beckles described this as insufficient consultation, though she acknowledged Boodoosingh’s competence, noting his background as an ethics teacher at the University of the West Indies (UWI). Boodoosingh was sworn in by acting president Wade Mark on October 22. The Law Association of Trinidad and Tobago also raised concerns about the expedited and abbreviated process leading to his appointment.
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Government, opposition argue over poui trees, Cepep
The Standing Finance Committee of the House of Representatives witnessed heated exchanges between government and opposition MPs on October 23 as they deliberated on the 2025/2026 budget. The focus of the debate centered on the allocation of $285,517,600 for the Ministry of Trade, Investment and Tourism, alongside contentious discussions on expenditure for planting poui trees and the termination of the Cepep program. Trade, Investment and Tourism Minister Kama Maharaj outlined a $1 million initiative to beautify highways by planting poui trees, drawing parallels to similar projects in Japan involving cherry blossoms. He suggested involving volunteers and school children in the effort, prompting Port of Spain South MP Keith Scotland to question whether children would be paid for their participation. Scotland also criticized the government for dismissing former Cepep workers who could have been retained for such initiatives, leading to tense exchanges in the chamber. Finance Minister Davendranath Tancoo had previously announced the termination of Cepep and URP in his October 13 budget presentation, proposing a $475 million Employment Fund to replace these programs with full-time, better-paid jobs. Social Development Minister Vandana Mohit and Public Utilities Minister Barry Padarath indicated that former Cepep workers could apply for jobs through the National Recruitment Drive. Opposition Leader Pennelope Beckles raised concerns about potential political patronage in the new unemployment fund, questioning its fairness and transparency.
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KFC serves up $650k sponsorship for Clarke Road United
Clarke Road United, a prominent cricket club in Trinidad and Tobago, has secured a significant sponsorship deal with KFC TT, marking a pivotal moment ahead of the 2025 Premiership season. The fast-food giant has committed $650,000 over the next two years, rebranding the team as KFC Clarke Road United. The partnership was officially announced at KFC’s Gulf View branch in La Romaine, with key figures like club president Baldath Mahabir and KFC TT vice-president Roger Rambharose in attendance. Rambharose emphasized the collaboration as an investment in community development and the future of West Indies cricket. He highlighted the club’s legacy of nurturing talent, including international stars like Nicholas Pooran, and expressed optimism about the partnership’s potential to inspire young cricketers. The deal, initially set for two years, could extend further, reflecting KFC’s commitment to holistic cricket development. Rambharose also noted KFC’s broader involvement in cricket, including support for the Trinbago Knight Riders and local academies. Mahabir celebrated the partnership as a milestone in the club’s 40-year history, recalling its humble beginnings in Penal and its role in fostering regional cricket talent. The club’s community spirit was further underscored by Penal Debe Regional Corporation chairman Gowtam Maharaj, who shared a story of players halting a match to help extinguish a nearby house fire. This act of selflessness, he said, epitomizes the values of Clarke Road United, a club that excels both on and off the field.
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Phoenix wary of league’s quality, but aim for TTPFL top four
1976 FC Phoenix, under the guidance of new head coach Delroy Patterson, is gearing up for a transformative season in the TT Premier Football League (TTPFL) Tier One. The Tobago-based team, which finished ninth last season, is optimistic that the return of home games to their schedule will provide the momentum needed to climb the league standings. This season, Phoenix is set to play up to six home matches at the Dwight Yorke Stadium in Bacolet, a significant improvement from the previous campaign where they had no home fixtures. Their season opener on October 24 will see them face Terminix La Horquetta Rangers in a double-header event, following a match between Miscellaneous Police FC and San Juan Jabloteh. Patterson, who led Whim Leeds United to the Tobago FA Cup title last year, has set a top-four finish as the team’s primary goal. However, he acknowledges the competitive nature of the league and emphasizes a game-by-game approach. ‘Realistically, we have a lot to put in if we want to finish in the top four because there are a lot of other good clubs out there,’ Patterson told Newsday. ‘If we finish in the top six again, I’d take that any day.’ The team has undergone significant changes in the off-season, with the departure of key players like Kassidy Davidson and Jariel Arthur. However, Patterson is confident in the abilities of players such as Deleon Beckles, Trevin Caesar, Kerri McDonald, Che Richards, and captain Duvaughn Daniel to step up. With the TTPFL introducing a new promotion and relegation structure, Patterson is determined to keep Phoenix in the top flight. ‘The guys are upbeat, and we want to continue playing in Tier One and not get demoted,’ he said. The team’s schedule includes challenging home fixtures against last season’s runners-up MIC Central FC Reboot, holders Defence Force, and Police FC. Patterson believes the support of the Tobago faithful will be crucial in inspiring the team to success. ‘It’s a morale boost for the guys, and knowing they have the fans behind them will give them more energy,’ he added.
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Tenth US strike off Venezuela claims six lives
In a decisive move against narco-terrorism, the United States military executed a targeted strike on a vessel allegedly operated by the Tren de Aragua (TdA), a designated terrorist organization, in the southern Caribbean on October 24. The operation, conducted in international waters off the coast of Venezuela, resulted in the deaths of six alleged narco-terrorists. US Secretary of War Pete Hegseth confirmed the strike in a post on X, stating it was carried out overnight under the directive of President Trump. He emphasized that the vessel was identified by intelligence as part of a narcotics smuggling network and was traversing a known trafficking route. This marks the first nighttime strike in the ongoing campaign against narco-terrorism. Hegseth issued a stern warning to drug smugglers, vowing to treat them with the same severity as Al-Qaeda. Since September, the US military has reportedly killed 13 individuals in similar operations, including two Trinidad and Tobago nationals in a strike on October 14.
