Express Business Filler #1

THE Central Bank Act, at section 44D, gives the Central Bank the power “to assume control of and carry on the affairs” of financial institutions under its remit, where the Bank is of the opinion:

a. that the interests of depositors, creditors, policyholders or members of an institution are threatened; b. that an institution is likely to become unable to meet its obligations or is about to suspend or has suspended payment; or c. that an institution is not maintaining high standards of financial probity or sound business practices.

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This week, we at Bourse take a look at the financial performance of two major players in the Non-Banking Finance sector: Sagicor Financial Corporation Limited (SFC) and Guardian Holdings Limited (GHL), for the six-month period ended June 30th, 2019. 

LAST week saw 1,346,042 shares traded on first tier market, a decrease of 14.24 per cent on the previous week’s total of 1,569,519 shares crossing the floor. The value of the shares traded was up by 15.62 per cent to $14,347,690.73 from the previous week’s value of $12,409,110.29.

Thanks but no thanks. Wheel and come again. This is the message president of the Public Services Association Watson Duke has sent to UNC political leader Kamla Persad Bissessar, who on Tuesday called for unity with the trade union movement, ahead of next year’s general election.

THE Chief Executive Officer of the Heritage Petroleum Company Mike Wylie has taken leave of absence from the job on medical grounds. This was confirmed by chairman of Trinidad Petroleum Holdings Company (TPH) Wilfred Espinet, who said the CEO was on sick leave.