Trinidad and Tobago News
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ARUBA, 2017/09/10
Resilient, powerful, strong and faithful. This is how Ramon Andrew described the people of Turks and Caicos. Ramon Andrews, the outspoken director of Tourism for the Caribbeans island country Turks and Caicos sounded somehow relieved at the same time as he updated the media today on the current situation on his island, specifically commenting on the safety of visitors and visitor industry professionals.
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AFGHANISTAN, 2017/09/09
Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010.
Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
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TRINIDAD AND TOBAGO, 2017/07/01
A national drive is gaining pace in Trinidad and Tobago to prioritise access to data services as an engine for economic increase, part of wider plans to reduce the country’s reliance on hydrocarbons.
In late April Maxie Cuffie, the minister of public government and communications, announced that a new broadband strategy targeting universal access to internet services was almost finalised.
Speaking at a conference titled “Internet of Things: Smarter Living in the Caribbean”, held in Port of Spain, Cuffie said the potential broadband offered could be compared to that of T&T’s hydrocarbons sector. He voiced his confidence that increased reach and speed, combined with a rise in Wi-Fi-capable devices, could deliver significant ripple effects across the national economy.
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TRINIDAD AND TOBAGO, 2017/04/11
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TRINIDAD AND TOBAGO, 2017/04/11
In its monetary policy announcement issued January 27, the Central Bank of T&T said the domestic economic environment continued to be characterised by sluggishness, with retail, construction and its associated industries remaining subdued.As the outlook for the energy sector improves, there are signs that broader economic activity could pick up this year as well.
From presently on the statement as well contained some positive indications, not least forecasts that the energy sector – the biggest contributor to T&T’s economy, at around 40% of GDP – was expected to perform better in 2017. Expected increases in production and prices, it said, could see additional capital flowing into the domestic economy.
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AFGHANISTAN, 2016/12/11
A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree.
The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
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TRINIDAD AND TOBAGO, 2016/03/20
Six months into his new government, Prime Minister Dr. Keith Rowley has fired his Housing and Urban Development Minister Marlene McDonald following reports that she hired her common-law husband and his brother at her constituency office, in breach of Parliament rules.
He announced in a statement last night that McDonald has been restored by Randall Mitchell who was before Public Government Minister. That responsibility has been passed on to Communication Minister Maxie Cuffie.
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TRINIDAD AND TOBAGO, 2016/03/20
Despite having to tackle falling energy prices, the economy of oil exporting Trinidad and Tobago is not facing any crisis, according to the International Monetary Fund (IMF).
In fact, an IMF mission that left the twin-island republic this week next an almost two week visit, said the country has a lot going for it amid the challenges.
The economy– which the Central Bank of Trinidad and Tobago last December declared was in a recession – is confronting a major shock with the sharp fall in energy prices that accelerated through early 2016, and based on available data, inclunding on job losses and continued supply-side constraints in the energy sector, the IMF mission projects gross domestic product (GDP) will fall one % this year and declines in energy-based revenues will constrain the Government’s ability to act as an engine of increase.
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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TRINIDAD AND TOBAGO, 2015/12/27
Trinidad and Tobago’s oil and gas industry is exploring new strategies to respond to weaker hydrocarbons prices, inclunding enhanced oil recovery (EOR) techniques and potential sources of new supply.
T&T’s hydrocarbons industry, which accounted for 42% of GDP in 2014, according to the Central Bank of T&T, continues to face headwinds on both the price and production front.
West Texas Intermediate crude oil, which is traditionally viewed as an appropriate price proxy for Trinbagonian output, fell from additional than $106 per barrel in June 2014 to around $43 as of mid-November.
The concomitant decline in gas prices has as well impacted the twin-island country’s economy. US Henry Hub prices – a key component of the formulas for pricing sales contracts – were down at around $2 per million British thermal units in November, a decline of additional than 65% since February last year.
Additionally, key exports based on gas feedstock, such as ammonia and methanol, have as well seen double-digit price adjustments during 2015.
