Express Business Filler #1

The reference rate used by local mortgage lenders to price new mortgages and reprice existing mortgages will remain at three per cent for the next quarter, according to a notice posted on the website of the Central Bank of T&T yesterday.

In the notice, the Central Bank announced it has maintained its Mortgage Market Reference Rate (MMRR) at three per cent, as at September 1, 2019. The rate is used by lending institutions to price new mortgages and reprice existing floating-rate mortgages. The MMRR has remained unchanged since March 2016, when it was increased from 2.75 to three per cent.

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GOVERNMENT has an $18,992 balance a $7 million loan it took in 1941 under the War Loan Ordinance of 1941.

It’s one of several loans the Government has with local financial institutions which amount to close to $50 billion.

WITH restaurants opening back up in the first phase of the easing of restrictions as a result of the Covid-19 pandemic, people still do not have to venture out for food as there is an app that brings deliveries right to your doorstep.

DIGICEL mobile phones are in more hands and pockets than any other telecommunications company in Trinidad and Tobago and the Caribbean. But the company is facing a battle for its survival as it deals with declining revenues, increasing finance costs and what its directors refer to as “unsustainable volumes of funded indebtedness”.

IN THE space of 23 years, 40-year-old Nirad Tewarie has moved from writing the news to being the subject of business new reporting in Trinidad and Tobago.

The CEO of AMCHAM T&T since 2014 gave an insight to the Express Business on how his journey started.

LAST week, economist and commentaror, Vanus James pointed to some key indicators that T&T should look for in planning the economy after the worst of the Covid-19 experience.

Australian shipbuilder Austal has announced the successful launch of a high-speed catamaran built for Trinidad and Tobago.

On its website on Sunday, Austal said Austal Vietnam had launched Hull 397, a 94-metre high-speed catamaran for the National Infrastructure Development Company (Nidco) from the company’s shipyard in Vung Tàu.

Constructed in 20 months, the vehicle-passenger ferry known as the APT James, is the first vessel constructed by Austal Vietnam, following the official opening of the shipyard in November 2018.