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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This week, we at Bourse continue our analysis of economic data in the lead up to the National Budget for the fiscal year 2019/2020. With some uncertainty as to whether revenues for FY2019/2020 will meet projections given the weaker tone of international energy markets, we turn our attention to the expenditure side of the budget equation. 

Telecommunications Services of Trinidad and Tobago Ltd (TSTT) announced that it intends to make an international offering of US dollar denominated bonds and Trinidad and Tobago dollar denominated bonds, subject to market conditions and applicable corporate and regulatory approvals. The proceeds of the offering will be used primarily for the purpose of refinancing existing indebtedness. (Oppenheimer)

PRIME Minister Dr Keith Rowley reiterated yesterday that he saw himself as T&T’s number one salesman with the responsibility to present the best of this nation to the world.

PRIME Minister Dr Keith Rowley will ring the iconic bell at the Nasdaq Stock Market in New York City today to signify the start of trading.

The Trinidad and Tobago Chamber of Industry and Commerce (T&T Chamber) is calling on the Government to ensure there is full transparency with regard to the sale of the Pointe-a-Pierre refinery to a company that is wholly owned by the Oilfields Workers’ Trade Union (OWTU). The company is called Patriotic Energies and Technologies Company Ltd (PETCL).