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Overview

Key financial indicators sound as banks work to support non-energy industries in Trinidad and Tobago
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In the face of economic sluggishness in 2019, Trinidad and Tobago’s banking sector showed continued consolidation and resilience. As the sector plays an increasingly critical role in the country’s diversification progress, executives are focused on supporting small and medium-sized enterprises (SMEs). In the near term, domestic banks are seeking to hone their competitive edge and enhance their…

Overview

New public offerings and bonds boost Trinidad and Tobago's capital markets
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The decade closed with an uptick in activity in Trinidad and Tobago’s capital markets, largely due to increases in initial public offerings (IPOs), a series of mergers and acquisitions (M&As), and a number of bonds issued in the latter half of 2018 and into 2019. Even so, activity in the financial markets remains muted, a pattern seen across many bourses in the Caribbean. The local market tends…

Overview

Consolidation and innovation create new product lines in Trinidad and Tobago
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While overall economic growth was flat in 2019, the financial sector experienced 1.4% expansion, to which insurance was a strong contributor. From January to March 2019 finance and insurance activities grew by 1.7%, according to the Ministry of Finance. Together with real estate and business services, the sector added 400 new employees in 2019. Financial and insurance activities contributed…

Overview

Trinidad and Tobago and other Caribbean nations enhance regional integration
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Despite its relatively small size, Trinidad and Tobago has played a significant role both politically and economically in the Caribbean since its independence from the UK in 1962. Given its strategic location at the southernmost point of the region, the island serves as a nexus between the island nations to the north and its southern neighbours on the South American mainland. It has been part of CARICOM…

Overview

Renewable energy on the rise as costs decline, particularly in developing economies
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Although the world remains largely dependent upon fossil fuels for power generation, a gradual transition towards renewable sources has been taking place since the 1990s, underpinned by multilateral deals such as the Kyoto Protocol, the Doha Amendment and, more recently, the Paris Agreement. Investment and development in renewable technologies has historically been led by developed countries, however,…

Overview

New oil and gas discoveries support energy sector's recovery in Trinidad and Tobago
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Hydrocarbons have long been the primary driver of Trinidad and Tobago’s economy. Indeed, T&T is the largest oil and gas producing country in the Caribbean, with the energy sector contributing around 45% to GDP, according to the Ministry of Energy and Energy Industries (MEEI). In addition, the country has a developed upstream petrochemicals industry and is a major exporter of liquefied natural…
Interview

Gervase Warner, President and Group CEO, Massy Holdings: Interview
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Interview:Gervase Warner What effect has government deficit spending had on the overall economy of the country? GERVASE WARNER: Deficit spending has not corrected the course of the economy as hoped. It did, however, postpone the pain, maintain the social fabric and keep the country together. Social, political and economic issues tend to converge, and all governments must find a way to manage…
Interview

Dominic Hadeed, Managing Director, Blue Waters: Interview
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Interview:Dominic Hadeed How has the recent uptick in economic activity affected the strategy of domestic producers? DOMINIC HADEED: The increase in economic activity in Trinidad and Tobago is not across the board, rather it is industry dependent, meaning some producers excel while others continue to struggle. As is the case worldwide, if retailers fail to keep up with changes in technology…
Interview

Jean-Paul de Meillac, CEO, Terra Caribbean: Interview
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Interview:Jean-Paul de Meillac How has the nature of property sales evolved as Trinidad and Tobago returns to growth? JEAN-PAUL DE MEILLAC: Trinbagonians have done exceptionally well over the years thanks to the strong oil and gas sector, which has injected a vast amount of liquidity into the financial system. As a result, stakeholders have been able to keep properties in their investment portfolios.…
Interview

Tijjani Muhammad-Bande, President, UN General Assembly: Interview
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Interview:Tijjani Muhammad-Bande To what extent are countries like Trinidad and Tobago exposed to risks caused by climate change? TIJJANI MUHAMMAD-BANDE: The findings of the “Global Warming of 1.5°C” report by the Intergovernmental Panel on Climate Change were clear regarding the risks that small island developing states (SIDS) face due to climate change, citing the escalating impact of…