Excess liquidity at $5b mark in TT

“The fact that we have posted a profit is varied. In terms of managing expenses, all banks are very conscious of that now, but there is also the low volume of lending opportunities, and that is what is causing the excess liquidity,” says Richard Young, managing director of Scotiabank Trinidad and Tobago and president of the Bankers Association.

Published

13 years ago

March 4, 2012

BusinesSuiteOnline

Trinidad and Tobago banks have more money than they know what to do with.

And the current excess liquidity in the domestic financial system is posing a challenge for the banking sector.

On the one hand, the extra cash – about $5 billion of it – has contributed to local banks posting profits for the 2011 fiscal year, despite a contracting economy.

The flipside, however, is that this money is being underutilised.

More go to http://www.trinidadexpress.com/business-magazine/Excess_liquidity_at__5b_mark-140820883.html

John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

8 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

8 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.