Faarees Hosein


ONE Caribbean Media Ltd (OCM) has recorded a solid financial performance for the first quarter of 2020.

Net profit of TT$8.5 million (US$1.2 million) improved by 15 per cent over the comparative period in 2019 notwithstanding a revenue decline of four per cent, OCM chairman Faarees Hosein said in the group’s unaudited results for the first quarter 2020 published today.

“Group revenues were impacted in all territories as a result of the closure of businesses in mid-March in light of the measures implemented by the respective governments to control and contain the spread of Covid-19,” Hosein said. “It is expected that these revenues will continue to be challenged during the second quarter as Covid-19 regulations remain in force.”

Hosein said developments are being closely monitored and the group’s operations are being adjusted to “ensure operational efficiency and to maintain quality service to our customers”.

He stated: “We remain confident that with the commitment of our teams and the business continuity strategies implemented, we are prepared to manage the foreseeable challenges while we continue to observe all recommended protocols and measures to ensure the health and safety of our employees and customers.”

OCM is the parent group of the Trinidad Express and CCN-TV6.


FINANCE Minister Colm Imbert will, in due course, be required to explain to the court why in his capacity as chairman of the Joint Select Committee (JSC) on Energy Affairs he, at one point, failed to convene a meeting of the JSC for more than 20 months and whether it was legal to do so.

The Covid-19 pandemic has forced as much as 15 per cent of retail businesses in San Fernando to permanently shut down.

And some small business owners are being forced to make tough decision about reducing staff and adjusting opening hours.

WHILE Nestle saw an increase in demand for its products by households, there was a major decline in products that were sold to hotels and restaurants, which were ordered to be closed amidst the Covid-19 pandemic. Even though restaurants were allowed to reopen their doors on May 11, in-house dining still isn’t allowed and hotels are only allowed outdoor dining for their guests.

SEATED AT tables around the world, she is often the lone woman.

Gender aside, Camille Selvon Abrahams said she brings two other traits to any table—she’s black and Caribbean too.

CANADA’S big five big commercial banks set aside close to C$11 billion in their last quarter in provisions for loans that are not being repaid according to schedule, which is called provisions for credit losses (PCL).

IMPORTANT changes are underway in the pharmaceutical industry. According to Becker’s Hospital Review, for many years pharmaceutical companies have moved away from researching drugs to treat infectious disease, being lured by the potential profits from drugs used to treat non-communicable diseases. Steph Sterling of the Roosevelt Institute points to this ‘failure’ of what she calls the fully market-based system in which new drugs and medical devices are developed.