Money Matters: Firstline Securities Blog
In T&T: Cruise ships sail in for mas
22 February 2012
The question remains: how does this translate to a sustainable  tourism sector all year round?
Tourism’s bumper Carnival season got a 1,600 visitor boost yesterday when two European cruise ships, the AIDA Vita from Germany and the Kristina Katarina from Finland docked for the day at the Cruise Ship Complex at the Port of Port of Spain.
“These are high-spending tourists whom we hope will take back the Trinidad and Tobago brand to their countries,” said Tourism Development Board (TDC) chairman Rajiv Shandilya. Read more…
In the U.S.: Stock Futures Drop on Europe, China
22 February 2012
Mantra of  ’cautious optimism’  seems right on target, as China U.K. underwhelm in manufacturing reports.
Dell Inc. (DELL) fell 6.2 percent in pre-market trading after its first-quarter sales forecast missed analyst estimates. Brightpoint Inc. (CELL), a wholesaler of mobile phones, retreated in Germany after cutting full-year earnings forecast. Read more…
In Europe: Euro zone teetering on brink of recession
22 February 2012
No surprises here; “debtor states,” “flatlining economy” all paint a grim picture of what is yet to come.
The euro zone economy is in danger of tipping into recession, with the services sector shrinking this month along with manufacturing, tempering a wave of optimism after a new bailout deal for Greece struck this week.
Surveys of purchasing managers published on Wednesday showed unexpectedly weak activity in the region’s most powerful economy, Germany, and in France. Read more…
In T&T: GAS CHOKE IN SOUTH
17 February 2012
Not the best advert for a nation during its busiest tourism period! Don’t add to the mayhem!
Taxi-drivers, passengers, hospital under stress as diesel runs out.
The fuel shortage caused by panic buying ahead of a threatened strike tomorrow by Petrotrin workers is beginning to hurt taxi-drivers, commuters and businesses that require transportation for delivery of goods and services.
Taxi-drivers yesterday complained of having difficulty sourcing fuel for their vehicles as long lines continued to be seen at many gas stations in south and central Trinidad. Read more…
In the U.S. : Stock Futures Little Changed Before Data
17 February 2012
Anticipatory tone to sound off today…U.S. data seems to outweigh Greek’s struggles in determining investor confidence.
U.S. stock-index futures advanced as investors awaited a report that may show the outlook for the world’s largest economy increased for a fourth month and as optimism mounted Greece will get a second rescue.
Applied Materials Inc. (AMAT) rose in Germany after forecasting higher profit in the second quarter. Dell Inc. (DELL) slid after Robert W Baird. & Co. downgraded its recommendation on the shares. Read more…
In Europe: Greece closes in on bailout, lenders seek more oversight
17 February 2012
Complexity of Greek bailout agreement shows that we may have just scratched the surface here. “New bailout may not solve its problems.”
Greece appears to be closing in on a new international rescue package despite unresolved doubts among euro zone partners about how fast it will manage to bring its debt down.
Athens set out extra austerity measures on Thursday it hopes will clinch a 130 billion euro ($170 billion) bailout, which will save it from bankruptcy next month, at a meeting of finance ministers from the 17-nation euro zone on Monday. Read more…
The Weekly Report: Return of King Sugar?
16 February 2012
“The European Union (EU) handed over a cheque for 16.585 million euros (TT$134.2 million) to the Government yesterday to aid in restructuring the country’s sugar industry.
The State-controlled sugar industry was disbanded in 2007 with the closure of Caroni (1975) Ltd and the then PNM administration approached the EU to help facilitate a National Adaptation Strategy for former sugar workers to promote life after sugar.”
T&T Express (February 9th, 2012) Read more…
In T&T: GAS OLE MAS
15 February 2012
OWTU looking to ‘make mas’? Â ”An ultimatum to the company to find an amicable solution” might be the oxymoron of 2012 thus far.
Panic buying as OWTU serves strike notice on Petrotrin Union demands 75%; company sticks to 5%
“Forget Carnival; we will have a longer Carnival. You will get to play mas another time; you have to first see about your business.” Read more…
In U.S.: NY Factories Expand Fastest Pace Since 2010
15 February 2012
Financial instruments aside, it’s good to see growth in real economic activity. Manufacturing sector accounts for 12% of U.S. economy.
Manufacturing in the New York region expanded in February at the fastest pace since June 2010, a sign factories are propelling the expansion.
The Federal Reserve Bank of New York’s general economic indexincreased to 19.5 this month from 13.5 in January. The index exceeded all forecasts in a Bloomberg News survey of economists. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey, and southernConnecticut. Read more…
In Europe: Euro zone ponders delay of 2nd Greek program
15 February 2012
Seems as though we’re nowhere closer to a solution here! No satisfaction that Greece is fully committed to the deal.
Euro zone finance officials are examining ways of delaying parts or even all of the second bailout program for Greece while still avoiding a disorderly default, several EU sources said on Wednesday.
Delays could possibly last until after the country holds elections expected in April, they said Read more…
