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S&P affirms T&T’s investment grade rating
Standard & Poor’s Ratings Services (S&P) has affirmed its ‘A/A-1’ long- and short-term sovereign credit ratings on T&T. The outlook remains stable. “Our ‘AA’ transfer and convertibility...
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Economists lower T&T’s growth forecasts
Economists have cut their growth forecasts for the T&T economy in 2014, according to a new survey by Barcelona-based FocusEconomics. This follow’s Central Bank Governor Jwala Rambarran’s projection...
View ArticleConcern over bank’s bad loans
After spiking in 2011 to 4.6 per cent from around one per cent in prior years, non-performing loans (NPL) at First Citizens Bank remained high at 4.3 per cent of gross loans as of June 2014, Moody’s...
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Chinese insurer lends Range US$50m
Onshore T&T explorer, London-listed Range Resources Limited expects to pump 3,000 barrels of crude oil per day from its Beach Marcelle acreage in deep south Trinidad, the company announced in an...
View ArticleS&P downgrades Sagicor Life
New York-based Standard & Poor’s Ratings Services (S&P) has downgraded Sagicor Life to ‘BB-’ from ‘BB+’ which is two notches deeper into “non-investment grade.” “On December 19, 2014, we...
View ArticleFirst Citizens’ loss on loans improves
Although non-performing loans (NPLs) are climbing industry-wide, First Citizens Bank has narrowed its impairment loss on loans and its profitability margins have increased year-on-year, a spokesperson...
View ArticleTT dollar strengthens against USD
Central Bank online data shows that headline inflation stayed at nine per cent in November, while core inflation rose to 1.5 per cent, according to the latest RBC Caribbean Economic Report released...
View ArticleS&P oil forecast: US$65 (WTI), US$70 (Brent)
Standard & Poor’s Ratings Services (S&P) has announced mostly negative rating actions on Europe’s oil majors, most of which operate in T&T. In a recent rating action, S&P changed its...
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LGO says it can sustain low oil prices
LGO Energy plc’s oil sales have increased, its production has quintupled, its share price has grown more than 400 per cent, and it is able to sustain low oil prices thanks to its low operating...
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Brazilian highway contractor defaults on debt payment
Finance Minister Larry Howai says the Government has received assurances that the financial troubles being experienced by the lead contractor on the highway to Point Fortin, Construtora OAS of Brazil,...
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