Tower a of the mahoghany court

NEW COMPLEX: Tower a of the mahoghany court complex is straight ahead, with tower two to the left with the historic women’s prison in the foreground.

Photo: ismael salandy

THE HOUSING Development Corporation (HDC) has instructed the contractor on the Mahoghany Court site at Mount Hope to accelerate the completion of the second tower on what is planned to be a four-tower site.

Emile Elias, the executive chairman of the Mahoghany Court contractor, NH, handed over the first tower to the HDC on June 28. “What is happening at Mount Hope is that the HDC was so pleased with the first tower, they actually instructed us to accelerate the second tower and we are now discussing with them to accelerate the third tower.

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This week, we at Bourse recap the performance of local and international equity markets for the first nine months of 2019. Despite signs of decelerating global growth, escalating trade tension between the US and China and major market events, international stocks continue to rally.

For the past four years, the Government has spent, or budgeted to spend, about $202.33 billion. It has taken on $24 billion in additional debt. Of the $202.33 billion spent in the 2016 to 2019 fiscal years, over $186.8 billion, or 92.4 per cent, was in recurrent expenditure.

AS THE countdown to Monday’s budget day presentation by Finance Minister Colm Imbert intensifies, Port of Spain vendors and Charlotte Street shoppers said they are hoping for a drastic reduction in food prices and an increase in minimum wage to about $18 or $20 an hour.

OVERALL market activity resulted from trading in 14 securities of which three advanced, two declined and nine traded firm. Trading activity on the first tier market registered a volume of 239,931 shares crossing the floor of the Exchange valued at $2,537,479.85.

PRIME Minister Dr Keith Rowley said yesterday his ringing of the opening trading bell at the Nasdaq stock market in New York last Friday represented the country to the world in a positive way, and when this happens, it has a positive impact on the population in the same way as when the country wins a medal at an international event.

THE CENTRAL Bank is reporting that the trend of low and stable inflationary conditions persisted in the first eight months of 2019, as a result of subdued aggregate demand and low international food prices.