Vieux Fort

Flashback photo of contractors at the Vieux Fort site of the HDC apartment development in St James.

THE HOUSING Development Corporation (HDC) granted unprecedented benefits and incentives to the Chinese construction company, China Gezhouba Group International Engineering Co Ltd (CGGC), as part of an agreement to construct 5,000 apartment units at sites across Trinidad, according to a copy of the contract documents viewed by Express Business.

In the first phase of the contract—which was signed on May 17, 2019 at the Hyatt Regency Hotel in Port of Spain— CGGC is expected to produce 204 two and three-bedroom apartment units at South Quay in Port of Spain and 235 two and three-bedroom apartment units at Lady Hailes Avenue in San Fernando.

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TWO DAYS after S&P Global Ratings downgraded Republic Bank Ltd and First Citizens Bank, the regional credit rating agency, CariCRIS, reaffirmed the assigned the rating of Massy Holdings Ltd (Massy) and gave the local conglomerate a stable outlook.

MASTERCARD, the American network payment processing giant, has signed a multimillion dollar, multi-year and multi-country non-equity investment in T&T’s WiPay, which will lead to the roll-out of a new virtual card by the end of April.

Trinidad and Tobago Securities and Exchange Commission (TTSEC) is charged with reviewing and investigating all complaints and ‘tips’ received in relation to the securities industry, including, but not limited to, those made against broker-dealers, investment advisers, underwriters, reporting issuers and self-regulatory organisations.

THERE were long lines outside the Central Bank in Port of Spain yesterday, as people rushed to exchange old $100 bills for new polymer notes, on the final day to complete the transaction.