Business

Overall market activity resulted from trading in 13 securities of which five advanced, two declined and six traded firm.

The unemployment rate for T&T declined to four per cent in the third quarter of 2016 from 4.4 per cent in the second quarter, according to the Central Statistical Office’s (CSO) Labour Force Survey.

Mitchell De Silva, new president of the American Chamber of T&T (AmCham), believes that the Government should have as little intervention in the economy as possible especially as it relates to the allocation of foreign exchange.

T&T is not doing as badly as it was about one year ago.

Finance Minister Colm Imbert said yesterday that property taxation revenue is an important component of national income “which has been postponed for the last seven years. It’s estimated Government lost over $2.5 billion in property taxation since 2009.”

Overall market activity resulted from trading in 15 securities of which three advanced, four declined and eight traded firm.

State-owned Petrotrin has started increasing its crude production from 41,000 barrels per day in February this year to 46,438 barrels per day at the end of April, President Fitzroy Harewood revealed yesterday.

Petrotrin President Fitzroy Harewood admits that the state-owned company is too reactive when it comes to safety saying it would cost approximately $16 billion over the next four years to repair Petrotrin’s aging infrastructure.