标签： Trinidad and Tobago

In a recent national budget announcement, Finance Minister Davendranath Tancoo revealed a $1 reduction in the price of super gasoline, a move expected to save citizens between $400 million and $500 million annually. Prime Minister Persad-Bissessar emphasized that such a reduction would have been unthinkable under the previous PNM administration. To compensate for the lost revenue, the government introduced a new tax on the assets of banks, effective from January 1, 2026. Using 2024 audited financial statements, preliminary calculations indicate that major banks like Republic Financial Holdings, First Citizens Holding, Scotiabank, JMMB (TT) Bank, and RBC TT will collectively pay approximately $565.403 million in asset levies. This figure excludes contributions from ANSA Bank, CIBC, and Citibank. Additionally, these banks already contribute significantly through corporate income taxes and dividends. For instance, Republic Holdings alone paid $1.262 billion in taxes and dividends in 2024, with the new levy pushing this total to around $1.83 billion. Finance Minister Tancoo projected that the government would generate approximately $575 million annually from this tax in 2026, based on the banks’ 2025 asset base. However, concerns have been raised that banks may pass this additional cost onto customers. Furthermore, the budget’s revenue projections were based on optimistic oil and gas prices, which were already below market rates at the time of the budget presentation. This discrepancy raises questions about the government’s financial planning and the omission of an estimated $19 billion borrowing requirement for 2025-2026.

At just 15 years old, Rachel Kirton, a student at Holy Name Convent, has turned her passion for baking into a thriving business venture called The Pink Oven. Combining her love for baking, her favorite color pink, and an entrepreneurial spirit, Rachel has created a brand that is as vibrant as it is successful. Her journey began in her family’s kitchen at the age of eight, where she first discovered her love for baking. Despite her young age, Rachel’s determination and creativity have propelled her business forward, proving that age is no barrier to success. With the support of her family, particularly her mother Sherry-Ann Jack, who serves as her first investor and business advisor, Rachel has managed to balance her academic responsibilities with her entrepreneurial ambitions. The Pink Oven officially launched five months ago, but Rachel had been baking for friends and family long before that. Her business focuses on creating delightful cupcakes for birthdays and other special occasions, a niche she is deeply passionate about. Rachel’s approach to business is both practical and resilient. She emphasizes the importance of learning from failures and maintaining a positive mindset. Her advice to other young entrepreneurs is to believe in themselves and their unique talents. Rachel’s future aspirations include expanding The Pink Oven into multiple pink-themed stores, offering baking kits and utensils, and even teaching children how to bake. She is also considering a career in accounting to complement her baking business. Rachel’s story is a testament to the power of passion, hard work, and a strong support system. As The Pink Oven continues to grow, Rachel’s future looks as bright and promising as the pink frosting on her cupcakes.

Prominent businessman Danny Guerra, along with 14 other individuals, appeared in court for the first time following charges related to the unlawful processing of aggregate without a license from the Ministry of Energy. Guerra, 50, the proprietor of DG Homes and manager of D Guerra Ltd, was among 17 people detained during a significant police operation on October 9. The operation targeted an alleged illegal quarry in Manuel Congo, Guanapo, resulting in the seizure of a multi-million-dollar washplant, trucks, excavators, and other heavy machinery. Guerra’s son, Garvin Guerra, 28, was also among those detained. The group, which includes Carminco Ltd supervisor Hannah Bovell, several truck drivers, and foreign nationals, was granted $50,000 bail on October 11, though three foreign nationals remain in custody due to their inability to access bail. Magistrate Avoinne Gill upheld the existing bail terms. Police informed the court that their investigation remains incomplete, requesting two months for the Director of Public Prosecutions to assign state counsel. Defence attorneys objected to the delay, prompting the court to order interim disclosure by October 24. Volumetric testing of materials from the site is still pending. Attorney Dayadai Harripaul, representing Guerra, indicated her client’s intent to seek High Court relief for the release of seized property, urging the police to return the equipment. The group faces charges under Section 45(1)(a) of the Minerals Act for processing minerals without a license at Lot A, San Carlos Estate, Manuel Congo. The case is set to resume on November 11.