Express Business Filler #1

THE Caribbean Development Bank (CDB) says in a new report that Trinidad and Tobago’s unemployment rate stands at 5.0 per cent.

The CDB, citing “National Statistics Offices” yesterday, said in its Annual Report 2018 that T&T was shown to have the third-lowest unemployment rate out of 12 CDB member countries.

The CDB includes British overseas territories Turks and Caicos Islands (TCI), the Cayman Islands, and the British Virgin Islands (BVI).

Only the Cayman Islands and the BVI had lower unemployment rates, 3.4 and 2.8, respectively. Trailing T&T was TCI with 6.0 per cent.

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The last official unemployment figure from the Central Statistical Office and the Central Bank was 4.8 per cent at the end of 2017, up from 3.9 per cent in 2016.

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AHEAD of Bernard Mitchell’s three-year contract as the chief executive of National Petroleum Marketing Company Ltd (NP) coming to an end, some 488 employees have put their signatures to a letter to Energy Minister Franklin Khan asking that his contract be renewed.

FINANCE Minister Colm Imbert says T&T has received a “favourable” rating from the US credit rating agency Fitch Ratings.

Increases in food prices have been minimal under the People’s National Movement (PNM), with prices going down for certain items in contrast to the large increases under the Kamla Persad-Bissessar administration.

SAGICOR Financial Corporation is paying nothing to CLICO and British American Trinidad to acquire their tradition insurance portfolios, worth over $8 billion, as the regional insurance company is acquiring insurance liabilities that have a greater value that the total investment assets that are to be transferred to Sagicor.

CLICO has not made a current, formal offer to sell its Methanol Holdings International Ltd (MHIL) shares to the methanol producer’s minority shareholder, Consolidated Energy Ltd.