Money Matters: Firstline Securities Blog

In T&T: First Citizens To Go On Stock Exchange

11 October 2011

The idea has been bandied about for years now. Let’s see how long it takes to materialise!

The programme to rationalise several State-owned organisations has begun.

In his budget delivery yesterday, Finance Minister Winston Dookeran said shares of commercial bank First Citizens and Point Lisas Industrial Port Development Corporation Ltd (PLIPDECO) will be put on the Trinidad and Tobago Stock Exchange (TTSE). Read more…

In Europe: Greece To Get Loan; Trichet Says Crisis Systemic

11 October 2011

Nothing new here: loan to Greece only gives the eurozone a “small window of time.” “Systemic” is a key word here.

Greece should receive a vital lifeline next month in order to avoid bankruptcy, its international lenders said on Tuesday, buying time for a broader EU response to a debt crisis that Europe’s top central banker labeled “systemic.” Read more…

In Barbados: Tourists Still Expected To Spend With Caution

11 October 2011

Vacationers looking for “value for money” while enjoying sun, sea and sand.

Tourism officials have stated that the projection is that we will still see a cautious tourist in terms of spending. Read more…

In The Face Of A Recession: Opportunity Amongst Catastrophe

10 October 2011

I can predict your first question: Are we in a recession?

A 2008 CNN article describes a recession as “a self-reinforcing downturn in economic activity, when a drop in spending leads to cutbacks in production and thus jobs, triggering a loss of income that spreads across the country and from industry to industry, hurting sales and in turn feeding back into a further drop in production – in effect a vicious cycle…To keep it simple, just look for the “Three P’s” – a pronounced, pervasive and persistent downturn in the broad measures of those factors.”

I’ll leave it up to you to judge how closely the description fits the current situation, but what can you do to keep sane in these crazy times? Read more…

SoE Will Hurt Christmas Sales…Plus, No Nightlife!

7 October 2011

Differing perspectives on the impact of the SOE on business activity. One businessman expected a removal of the curfew altogether

The business community has mixed reactions to Prime Minister Kamla Persad-Bissessar’s decision to maintain the period of the State of Emergency, and in particular retain curfew hours.

“We agree with that decision 100 per cent,” said president of the San Fernando Business Association Daphne Bartlett in a telephone interview yesterday. “Those are the sentiments of every single person we’ve been able to interact with. In fact some of them have expressed that they would like the curfew to last forever in Trinidad. Yes we have concerns for the night businesses, but I think even the owners of night businesses are thinking safety comes first. 11 p.m. is not bad for a curfew, and people don’t shop after ten. We don’t think there will be an impact on retail trade, except in the food business, and the extension of the curfew (until 11 p.m.) has allowed for that,” she added. Read more…

In Europe: Germany vs France on Bank Aid

7 October 2011

Merkel and Sarkozy propose different ways to aid European banks and Greece. Merkel proposes market first, then gov’t…Sarkozy seeks to retain France’s AAA rating by accessing the EFSF

Germany and France are split ahead of crucial summit talks on Sunday over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek default. Read more…

In the Caribbean: New FDA Act Impacts Exports to the U.S.

7 October 2011

The American FDA Food Safety Modernisation Act may bring about more red tape for exporters such as “mandatory preventive controls for food companies”

The FDA Food Safety Modernisation Act, which was signed by the American President Barak Obama early this year, brought with it sweeping changes to how the Food and Drug Administration (FDA) would deal with regulating food, both domestically produced and imported from elsewhere. Read more…

In Europe: EURO Falls As Trichet Sees ‘Intensified’ Risks

6 October 2011

ECB head speaks to the greater downside risks faced within the region as manifested in the Euro’s 10-year low against the yen.

The euro fell toward a 10-year low against the yen and weakened versus the dollar as European Central Bank President Jean-Claude Trichet said the region is facing “intensified downside risks.” Read more…

In Barbados: CARIFORUM Could Benefit Financial Services Sector

6 October 2011

Potential European investment in the Barbados financial services sector after the implementation of the CARIFORUM Economic partnership agreement. Likely areas of investments include auxiliary areas to insurance and risk assessment.

The country’s financial services sector as well distribution Services could be in line for European investment once the CARIFORUM Economic partnership Agreement is up and running. These are two of the several areas which are open to European investment under that trade and economic arrangement. Read more…

In T&T: London Says Tobago Has A Right To More $$

6 October 2011

Orville London expects Tobago’s fair share in the upcoming national budget. Ashworth Jack expects unspent balances to be fully utilised for projects.

Expectations are high in Tobago for the upcoming October 10 national budget presentation and To- bago’s allocation. Tobago House of Assembly Chief Secretary Orville London said Tobago deserves eight per cent of the national purse. Read more…

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