T&T Non Energy Sector Continued To Show Positive Momentum

Published

11 years ago

November 2, 2014

“Overall, for the second quarter of 2013, GDP grew 2.1% (year-on-year) compared to 1.6% recorded in the previous quarter. The country’s non energy sector continued to show positive momentum, recording yet another quarter of expansion during the second quarter of 2013. This is the ninth consecutive quarter of expansion. Year-on-year, the non-energy sector grew 2.4% in the second quarter of 2013–the same rate as the previous three months. The top three best performing sectors were finance (+5.3%), manufacturing (+3.8%) and construction (+3.5%). The energy sector posted growth of 1.6% in the second quarter of 2013, even as the petrochemicals subsector recorded a significant contraction of 9.3%.

The Ministry of Finance and the Economy estimated that GDP would expand at a rate of 1.6% for the full year 2013, supported by the non-energy sector. This projection is in line with the International Monetary Fund (IMF), which also forecast growth of 1.6% in 2013, with projected expansion by 2.3% in 2014. The performance is likely to be driven by the non-energy sector, particularly in the construction, finance and distribution sectors.

Inflation for the 12 months to October 2013 decelerated to 2.7% from 3% in September, mainly due to the slowdown in core inflation which stood at 1.9% in October from 2.9% in September.

As at the end of March 2013, the country’s total public sector debt stood at 54.3% of GDP–a decline from the 57% of GDP recorded at the end of September 2012. Contingent liabilities represented 17.4% of GDP at the end of March 2013, while external debt of central government was at a stable 6.3% of GDP.”

Nyree D. Alfonso
Chairperson First Citizens Group

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.