Quantcast
Channel: The Trinidad Guardian Newspaper
Viewing all 18762 articles
Browse latest View live

Howard University Open Day event focuses on role of tech

$
0
0
Published: 
Wednesday, April 19, 2017

“One of the things that motivated me when I was growing up, was no one in my household ever told me that I could not do something. Every time I told my parents or my grandmother that I wanted to become a physician, they never said I couldn’t because I had sickle cell anemia. So parents, I would like to encourage you to think big for your children and do not set barriers or obstacles inadvertently on them by limiting them because of your current circumstances. Your current circumstances do not dictate your future,” said Dr Wayne Frederick, the current Howard University president, a Trinidadian and sickle cell disease survivor.

Dr Frederick was speaking at a Howard University Open Day held at the Success Laventille Composite School on April 7. bmobile was a proud sponsor of the event which was hosted by i95.5 FM as part of their ongoing Laventille Nights Series.

Addressing the room full of students, parents, guardians and teachers, Dr Frederick spoke about the importance of having the support of parents, family and a good network of the right friends and mentors. He also shared his life journey of dreaming big and studying and working hard to achieve his academic and career goals, despite having financial challenges and sickle cell disease.

Two Howard alumni, Sheldon Jones who grew up in San Juan and Carlton Serrette, who lived in Morvant, also shared their individual life stories of being accepted to Howard despite their humble beginnings.

Assuring the audience that Howard University offered an environment that will not limit them but unleash their potential, Dr Frederick said he invited the two alumni to speak because some people at a previous open day held in Laventille thought because he was from a different neighbourhood, they could not have the same opportunities as he did. “T&T has one of the best education systems in the world and you have to apply yourself every day to take advantage of this opportunity and get a good education. Your educational pursuits do not start when you apply to university. It starts from before”, he said.

TSTT acting Chief Technology Officer Hassel Bacchus discussed the importance of the use of technology in education for the advancement of a society. “Technology is what enables us to dream bigger and go further. Under the leadership of our CEO, Dr Ronald Walcott, we are transforming TSTT into an agile broadband company so we can deliver the services T&T needs to allow its citizens to reach their full potential.

Bacchus continued, “When you marry technology and education you get really spectacular results. Together, they provide the three Es: 1. They are enablers of individuals and society; 2. They encourage entrepreneurship; and 3. They are equalisers. With the advance of technology today, there is nothing that you cannot figure out, produce or do, regardless of where you live or where you are in life. It’s no longer about who has and who doesn’t have. Technology levels the field.”

The event also attracted prospective Howard University students from all over the country. Cyril Ann Hunte, 25 and Aphea James, 19, travelled from La Brea and Bon Accord, Tobago, respectively. “I always had an interest in Howard University because it reflects what I stand for as young, black woman growing up in today’s society. I wish to study political science and law at Howard and needed to find out more about their scholarships and financial assistance. It was a really great experience because the two alumni who spoke made us realise that they were just like us at s0me point in time but they were able to get into Howard and improve on their lives. I felt inspired”, said James. Hunte has been performing and teaching theatre arts since 2009. “I believe that doing a Theatre Arts-Acting degree at Howard will expose me to invaluable experiences that will equip me to excel in my field and make a difference. I am glad that I came today because I learned that there are no scholarship age limits that would give preference to a younger person now leaving high school over an older person like myself.”

A release said school principal, Hamida Baksh and I95.5/Red president Tony Lee, welcomed the open day participants and were followed by Stephen Weeks, US Embassy Public Affairs Officer, who discussed the steps a student should follow to become eligible to study in the United States, as well as tips to lower the costs of attending a foreign university or college. The afternoon session then closed with a question and answer segment with the Howard University president.

TSTT acting Chief Technology Officer Hassel Bacchus, second from left, and Howard University president Dr Wayne Frederick, fourth from left, share a joke with students at Success Laventille Secondary School.

Depression: Let’s talk: Look who’s talking, too

$
0
0
Published: 
Wednesday, April 19, 2017

For the past five years, I have experienced no greater joy than to have people who identify with a particular topic write a response about themselves or about their perception of me. This has been the enrichment that I have gained in the confidential exchanges where I take opportunity to counsel, share stories or to give direction for an intervention.

I am so moved when people open up and allow me into their lives, homes, relationships, ill-health, and struggles. I would that everyone understood what I do and, more so, appreciate it, but that day will come, too.

Today, I continue to celebrate some of the intimations to me being open about living with a mental illness—unashamed and undeterred.

 

You seem to have it totally together

Miss, how are you?

I must say it has been a while. I saw your article (Living with Clinical Depression, TG April 25, 2012) and it was really inspiring. I know you mentioned some stuff (about your mental health) to us in class but it was so hard to see the reality of what you spoke of when you stood before us. You always seemed to have it totally together. Nonetheless, it was truly enlightening.

I must say I often miss you because your classes meant so much to me. They were more that lectures; they were enlightening, full of drama (my favourite) and fun. You actually made me want to come to class every day.

I just thought I’d put my thoughts in writing and express to you how much I truly appreciated all that you have done for me in helping me to become a better person and a PR practitioner. Have a blessed day, Miss. God bless.

About my special family

Hello Caroline,

I read the article this morning (and felt so good to see my words in black and white so that I can show it to my family and friends, so at least they will see that they can make a positive outlook on an otherwise unpleasant situation; that they can show other people they can find love and it is worth holding on to this life.

I cannot thank you enough for giving me the space in your column to share my love for what is truly my greatest gift from God: my special family.

 

You are not alone

Dear Caroline:

I was glad to read your column on being home alone for the holidays (2014).

Over the years past, I have been very much alone (the last survivor of my immediate family) and gotten so comfortable with my solitude.

Is it possible that I’ve learned to like something unhealthy for me?

Sometimes it feels so comfortable being alone, it scares me to think about the later years if I’d be able to fend for myself.

Even when I get asked out to family outings (or even wakes, funerals etc) I feel like I have to psych up myself to go and many times I just end up staying home.

When I have to socialise in groups (family or otherwise) I begin to feel like a fish out of water, gasping for its aquarium to breathe again.

Also, I recently read up on ADHD (Attention Deficit Hyperactivity Disorder) and based on a basic Q&A I answered, I firmly think I might have this condition.

I’d really like to get a proper doctor to assess if I have this condition and what medication is suitable for me, if I am diagnosed with the condition. Do you know of any doctor(s) I can rely on for a professional, accurate assessment of such a condition?

 

 

Continue sharing the love

Dearest Caroline,

Happy New Year (2013), I read your article on Old Year’s Day, and to steal a line directly from the article: “ I have goosebumps” with pride and joy.

The article was deep, sincere, and open, also intellectually stimulating.

Love personified is what you are doing. You see, you are doing it not for fame or glory, but for fulfilment of dreams you had for your birth place.

By your dedication, your demeanour and your sincerity, you are teaching not only the youths but the adults as well.

Remember, more things are caught than taught. Caroline my dear, I know it’s a tough battle.

Like an old broken record will reiterate, how proud I am of you.

Reading that article brought joy to my heart. You will feel despondent at times, you will hear the negatives, but remember nobody throws stones at a tree without fruits.

The more you do, the more the small minds will try to discourage you.

Remember God put you there for that purpose: to enhance the lives of those with whom you come into contact.

Love conquers everything. Continue to share your love.

Red Force wraps up campaign with victory

$
0
0
Published: 
Wednesday, April 19, 2017

Starting the final day of their 10th round game at Warner Park needing a huge effort to pull off victory, Red Force found their inspiration in leg-spinner Imran Khan who finished with match figures of 11 for 140.

He failed to add to his overnight five-wicket haul as Hurricanes, resuming on 273 for six, were dismissed for 299. Seamer Roshon Primus took two of the four wickets to fall to finish with two for 62.

Following on by 254 runs, Hurricanes were dismissed for 237 in their second innings with Khan proving T&T’s trump card again with six for 74.

Off-spinner Bryan Charles picked up three for 110.

Opener and captain Montcin Hodge resisted with an unbeaten 96 while Kacey Carty carved out his second half-century of the game with 54 and Akeem Saunders got 41.

Hurricanes were 188 for three at one stage inside the first hour after tea but suffered a swift collapse to lose their last seven wickets for 49 runs, and slide to their fifth defeat of the season.

In their second turn at the crease, Chesney Hughes fell cheaply for 11 with just 25 runs on the board but Hodge and Carty combined in an 83-run second wicket stand to steady the innings.

Hodge faced 222 balls in just over 4-3/4 hours and struck 13 fours while Carty, in his eighth first class game, stroked five fours and two sixes in a handsome 79-ball knock.

Charles claimed Carty–mis-timing a drive to mid-on–and Jamaican Nkrumah Bonner (0)–caught at the wicket–in successive deliveries but Hurricanes found solace in another half-century stand, this time between Hodge and Saunders which yielded 76 runs.

Saunders was within touching distance of his half-century when he gloved one from Khan that bounced and was caught at forward short-leg, triggering a terminal decline.

Gayle first to 10,000 T20 runs

$
0
0
Published: 
Wednesday, April 19, 2017

The veteran left-hander, who has not played for West Indies in 12 months, hit a sparkling 38-ball 77 – his first half-century in 17 T20 innings – as RCB, sent in at the Saurashtra Cricket Association Stadium, raced to 213 for two off their 20 overs.

In reply, Lions made a good fist of it but were restricted to 192 for seven off their 20 overs, with Smith failing at the top of the order with one.

New Zealander Brendon McCullum pummelled 72 from 44 deliveries but lacked support in the top order.

The headlines, however, were all about the sensational Gayle who with 32, six and 22 in his three previous innings in the tournament, entered the game just three shy of the 10 000 run mark.

And he achieved the mark in the fourth over of the innings and in his 290th T20 game when he edged seamer Basil Thampi to third man.

Gayle now has 10 074 runs, well ahead of McCullum who is second on the run-getters list with 7 596, with Australian Brad Hodge third on 7 338 and West Indies power-hitting Kieron Pollard fourth with 7 087.

(CMC)

Chris Gayle is the biggest box office draw in the shortest format of the game

Thurton hits century for Central

$
0
0
Published: 
Wednesday, April 19, 2017

Chrystian Thurton hammered the first century of the Shell-sponsored Under-19 Inter Zone cricket tournament to send Central into the semifinals against defending champions East.

In third round matches contested last week East, beaten in two 50-over finals already this season in the competition (Under-17 and Under-15) remained in contention for silverware when they trashed North Zone for a place in the last four.

Playing at Gilbert Park in California, Central, made a daunting 276 all out in 44.4 overs, fired by Thurton’s 103 and aided by Saiba Batoosingh’s 42 and opening batsman Shawn Vialva with 26.

Despite the Central run-feast, South’s Dennis Ramnath grabbed five wickets for 45 runs in his allotted ten overs, while Xavier Ganga took two for 30 in seven overs and four balls.

And in response, the South team, already winners of the Under-17 and Under-15 titles, could not replicate their success and were shot out for just 76 in 26.4 overs with Rajiv Gosine, batting at No 9 top-scoring with 14. Aaron Sinanan made 13 as they plunged from 12 for one wicket to 29 for five, and never really recovered in their run chase.

Doing the destruction for Central Zone were Jayden Seales who snared four for 28 in six overs and Emilo Gopaul who returned bowling figures of four for 16 in five overs as their team romped to victory buy a massive 200 runs.

At the Queen’s Park Oval in Port-of-Spain, East Zone kept their nerve and booked their place in the semifinals with an impressive batting and bowling performance to defeat North by 60 runs after posting 244 all out in 49.5 overs.

In reply North capitulated for 184 all out in 45.4 overs.

For East, in with a chance to reach their third Shell Inter Zone final of the 2017 season, Sachin Seecharan blasted 86 and got valuable support from Aaron Mairam (36) and Nathaniel McDavid (25).

The North bowlers worked in tandem and were well-rewarded, with Joshua Dookie (3/32), Wendell George (4/46) and Joshua Wilson (3/46) combining to give their team a chance of victory on the historic Oval ground.

But the spoils belonged to the East bowlers, led by Mairam with the astonishing figures of three wickets for ten runs in seven overs and four balls with one maiden; while Sameer Ali snatched two for 40 in eight overs.

They were well supported by Te-Shawn Alleyne, McDavid and Kristan Kallicharan claiming one wicket apiece to complete an emphatic victory.

And South-East Zone staked their claim for a berth in the championship match with a five-wicket win against South-West at the Sancho Recreation Ground in St Julien Village in Princes Town.

Batting first, South-West reached 137 all out in 35.4 overs helped by Jamal Ramnath who made 33 and Rodney Sieunarine (22), but it was not enough for South-East who reached their target of 138 in just 23.3 overs for the loss of five wickets.

Jace Assoon struck an undefeated 54 to lead the run chase while Antonio Bebe contributed 33.

The top South-East bowlers were Michael Dindial who had figures of four for 34, while Justin

Gangoo took two for 28 and Tariq Abdul claimed two for 24.

South U-13 screening today

 

The South Zonal Council will host their U-13 screening session this morning at the Syne Village cricket ground in Penal from 9am.

Chairman of the Zone, Chaitram Ramjitsingh said that he has a packed programme in place for the U-13 cricketers leading up to the Shell Under-13 Interzone tournament and from today, the process will start. He is urging parents to be on time with their children so that newly appointed coach Keshava Ramphal and the other selectors can have a good look at them. South Zone has enjoyed a good season so far in the Shell series winning the Under-15 and Under-17 titles.

 

Bandoo spinning a web in school’s cricket

Fourteen-year-old Ryan Bandoo, a form three student of Naparima College, is spinning a web around batsmen he encounters in the PowerGen Secondary Schools cricket league.

A disciplined young man from Orange Valley, Couva, Bandoo said: “I am proud to represent my school at the SSCL Premiership Level.

Making his debut for the senior team recently against Shiva Boys College he was excited to get into action. Batting at number eight he recalled Naps were 186 for 7 and he got instruction from his coach to bat with National U 19 player Cephas Cooper to achieved the team goal of 250 plus. With Cooper and himself they achieved the team’s goal with a partnership of 66 runs, while he scored just 10 not out, he showed maturity that belied his age.

His coaches at Naparima is calling him the next Inshan Ali with his left arm orthodox/china man. He helped his team finish third in the competition and obtained 11 wickets from five matches. Bandoo plays for Clico Presyal Cricket Club and he says his favourite player is New Zealand captain Kane Williamson.

Ryan Bandoo ... great potential.

Phillip takes sprint title

$
0
0
Published: 
Wednesday, April 19, 2017

Njisane Phillip’s explosive speed and brilliant bike-handling skills saw him ride away with the Men’s Sprint title on the final day of the Easter International Cycling Grand Prix at the National Cycling Centre in Couva on Monday.

His riding technique worked well for him to withstand the challenges of Ireland’s Eoin Mullen in the final. This following his win over Venezuelan Hersony Canelon in the semifinal round.

Copping the bronze medal was T&T’s Quincy Alexander, who sped away with the victory against Canelon after he fell to Mullen in the semifinals.

Jabari Whiteman took the Junior Men’s Sprint title beating another local cyclist Chaquille Henry of Arima Wheelers in the final. Taking the bronze was T&T’s Dean Woodsley, who topped Colombian Sebastian Jaun Pena Daza of Bogota IDRD, in the third and fourth-place event.

In the women’s category, T&T Teniel Campbell had to settle for fourth place the sprint event. She met eventual winner American Mandy Marquardt in the semifinals and was beaten in both races.

In the bronze-medal race, Campbell tackled another USA cyclist Madalyn Godby but was unfortunately defeated again.

Both Whiteman and Teniel Campbell emerged the men’s and women’s leading riders of the Grand Prix which started on Friday at the Arima Velodrome. Over the first two days of the competition, Whiteman tallied 11 points, the same as Jamaica’s Marloe Rodman but the T&T cyclist got the edge for having more finishes among the points, being fourth on three occasions compared to Rodman’s one third and one fourth-place finish after both riders secured a win and second-place finish apiece. Phillip was third, with 10 points for his two wins.

Campbell was the best among the international women, mustering 27 points for her four victories to go with a second and two third-place finishes.

T&T’s Chenelle Walcott of Team DPS was third in the Junior Women - 500m Time Trial event behind Andrea Ortiz de La Cabada of Venezuela and Tachana Dalger of Suriname. Adrianna Seyjagat of Arima Wheelers was fourth.

Akil Campbell (T&T/PSL) also took home a bronze in the Men’s Omnium. Winning gold was Dominican Republic’s Rafael Adolfo German Meran of Team Foundation and silver went to Daniel Holloway of the USA.

T&T's Teniel Campbell defeats Canada's Tegan Cochrane during the women's sprint quaterfinals of the Easter Grand Prix 2017 at the National Cycling Centre, Couva on Monday. Couva

I give up on WICB

$
0
0
Published: 
Wednesday, April 19, 2017
Dancing Brave

Recently, I returned from Japan via Miami and both stop overs showed how important sports is to both countries with the Olympics and World Cup Football in mind. On the other hand here in the Caribbean there’s little doubt that the people have become fed up and frustrated by the state of West Indies cricket given the severe trauma experienced over the last six months in particular. In fact, there is a view that the West Indies Cricket Board (WICB) is on the verge of collapsing given the lack of care for the Sport.

Also, T&T is known of having sell out venues especially during T20 matches but recently it has struggled to compile a sizeable crowd on any of the three match days earlier this month. On the Thursday an estimated 4,500, Saturday 5,200 and finally on the Sunday 7,100 . Poor by any standard but given the appeal of cricket or lack thereof, it was a revealing comment from the public of T&T.

Similarly, the early crowd at Guyana for the 50-Over game was described as lower than expected, of course a West Indies helped matches in the second one dayer, but the signs are there for all that want to observe , that the people of the region are visibly disturbed by West Indies cricket .

Whether it is a combination of the poor play of the West Indies or the considered disgust with the West Indies Cricket Board and the recent announcement that there is no change to the WICB Management.

Such a protest unfortunately will not change the composition of the WICB , unless the territorial boards themselves wake up or are given a clarion call by those who elect them.

There is little doubt, that 90% of the population of the Caribbean are disturbed by the constant fights between the WICB and the players, and now between the WICB and the Governments, with T&T Prime Minister stating: “That West Indies cricket has been hijacked.” It is a perhaps a belief that is being echoed by many in the region .

However, it is imperative that the correlation between the loss of ranking (in Test and one day international and T20 cricket) are all related to the fact, that the West Indies team at present is playing a second string team which is struggling to cope with high quality opposition in all forms of the game.

Chris Gayle, Darren Sammy, Dwayne Bravo, Darren Bravo, Samuel Badree, Andre Russell, Denesh Ramdin, Sunil Narine, Lendl Simmons, Ravi Rampaul, Dwayne Smith, Nicholas Pooran and Jerome Taylor are some of the players that have been missing from West Indies colours for many reasons, not least will be the treatment that they have experienced in the past. Some have even retired from the game at one level or another. Where else would a country allow 12 or 13 of their best players to walk away or be pushed out with making an effort to solve the problems that exist .

In life you need to take responsibility for your actions, and the WICB must recognize the rejection that is brought about once you mention its name. People raise their eyebrows and just shake their heads.

How can we not understand that India have become a powerhouse in cricket through the exposure of their young players have received from the IPL, and the communication between the overseas based players and the Indian players.

And yet still the WICB, has sold all of its rights for a small amount for close to 50 years to an independent body, perhaps not confident that its a great revenue earner to the WICB and the Board lack the vision and skills to operate a successful league. I sure all will agree the CPL is running a successful league at present.

Perhaps the silent stadiums, the absent crowds, the demotion of the West Indies team to 10th place in every aspect of the game, behind Bangladesh and Ireland is what is needed for the WICB authorities to realize the error in its ineffective management style

It has reached a point that it has become too much to ask people to continue the fight for West Indies cricket.

Dave Cameron...West Indies Cricket Board president

Don’t miss this ‘Dance’

$
0
0
Published: 
Wednesday, April 19, 2017
The Jeffery Ross Racing Special

First Dance could well provide an enjoyable, indeed rewarding, experience in a thirteen-runner 3-y-o Maiden Fillies’ Stakes over the Rowley Mile of ‘good’ ground Newmarket today; one to get us ‘rock and rollin’ for sure.

It’s 194 days since James Tate’s charge improved on a promising polytrack debut by finishing second over seven furlongs of this wonderful race-track; thoroughbreds which act well at HQ usually relish a return and jockey Martin Harley will be hoping this is third time lucky for them.

Harley was in John Whitley’s Racing Research computer champion ‘top ten’ last season; no surprise because his quiet, no nonsense, style has been a feature during the last few years for this racing writer who recognises jockeyship is fascinating and that reliability is key. Martin consistently get’s ‘job done’ and is much sought after.

Tough to get going in the midst of fierce competition and it doesn’t get anymore competitive than the United Kingdom, despite moderate prize-money.

Judged on what First Dance achieved as a juvenile this represents a solid each-way bet with three places available, even though maidens at this particular Cambridgeshire course are often littered with ‘graded’ prospects during Spring-time.

Rest of this second day seven-race programme looks too difficult and so further emphasis is switched to an evening fixture on Wolverhampton Tapeta which should suit twice-raced, Sir Michael Stoute-trained, El Cap in an ‘aged’ Maiden Stakes over seven furlongs.

In both races to date El Cap has achieved time-handicap marks that win this-type race nine times out of ten and so all we want are odds-against.

Mr Chuckles notched a ‘career-best’ over course and distance last month and justifies a punt in the opening Apprentice Handicap over six furlongs, mount of David Egan, son of 48-year-old veteran Jack!

 

Fahey goes through his Craven meeting team

Top trainer Richard Fahey had a successful Easter weekend and he talks us through his runners for the Craven meeting.

We had a good Easter weekend thanks to three nice winners and while Cullingworth took me by surprise a little bit he was a welcome winner for Sammy Jo Bell up at Musselburgh.

Forest Ranger and Kimberella were less surprising at Newcastle and Lingfield respectively on what we’d seen at home and both look nice horses for the season ahead.

Talking of nice horses, the turf season really gets going now with the Craven meeting taking place at Newmarket this week and while I haven’t got a huge team going down we’ll have four or five running down at HQ.

On Wednesday (today) we’ve just the one runner with Private Matter going for the European Free Handicap.

He’s a son of Mayson running in the Cheveley Park colours and he’s been gelded which has done him no harm at all.Last season was a good one for him and he’s subsequently got no easy options off his 106 rating, but this looks as nice a place as any to start him off.

He’s done well over the winter, is in good order at home and he’s fit and well. It was always the idea to step him up in trip so we’ll see if he improves for it.

Finally we run Mayfair Lady in the Group Three Abernant Stakes on Thursday.

She’s been covered and I hope she’s in foal but we’d love to get some Black Type with her which is why she starts off here as she goes well fresh.

Realistically I’d be delighted if she gets in the first four, but she’s fit and ready and is pleasing me at home so, you never know, she could outrun my expectations.

Newmarket, 1.45 First Dance (nap-e.w)

Wolverhampton, 2.40 Mr Chuckles (e.w)

3.45 El Cap.


St Fort heads T&T world relay team

$
0
0
Published: 
Wednesday, April 19, 2017

Khalifa St Fort, Carifta Games double sprint champion, SportWoman of the Year Michelle-Lee Ahye and Olympic double medallist Keston Bledman will lead a 22-member T&T team for this weekend’s IAAF World Relays in Nassau, Bahamas.

St Fort, who yesterday returned home with the rest of the successful T&T team from Curacao, was key in helping T&T finish second at the Carifta Games with 22 medals, seven gold medals, five silver and 10 bronze, behind Jamaica (39 gold, 28 silver, 19 bronze). Bahamas was third with 31 (six gold, 15 silver, 10 bronze.)

Both St Fort and Ahye have been selected for the 4x100 metres and 4x200m and will be joined by fellow Olympians Kelly-Ann Baptiste, Reyare Thomas, Semoy Hacket and former World Relays bronze medallist, Kamaria Durant in the shorter race.

In the 4x200m, US College standout athlete Anika Charles replaces Baptiste. Charles has been blazing the track in the USA College circuit, most recently completing a sprint double at the Little Rock Open in Arkansas.

Charles is also part of the T&T’s 4x400m team which includes Olympians Kai Selvon, Janeil Bellille and Domonique Williams.

Bledman will be joined by another Olympic double medallist Emmanuel Callender on the both the 4x100m and 4x200m teams. In the shorter event, they will link with Moriba Morain, Dan-Neil Telesford and Olympian Kyle Greaux.

In the 4x200m, another Olympian Renny Quow, the 2012 and 2009 World Championships bronze medallist, and Jereem Richards will partner with Bledman, Callender and Telesford.

Three of the six men, who helped T&T to Olympic 4x400m bronze in 2012 have been selected, including Jarrin Solomon, Deon Lendore and Lalonde Gordon. They will be joined by 2014 World Junior champion Machel Cedenio, Quow and Richards.

The mixed 4x400m team contains Charles, Quow, Richards, Solomon and Williams.

A total prize purse of USD $1.26 million will be paid by the IAAF for the men’s and women’s races at the Relays. Team prize money for each race (all amounts are in US) is, for first place, $50,000, second $30,000, third $20,000, fourth $12,000, fifth $10,000; sixth $8,000, seventh $6,000, and eighth $4,000.

 

Note from IAAF - World record bonus

 

Any team who breaks a world record in Nassau will be awarded a US $50,000 bonus by the IAAF. The World Relays have already witnessed five world record-breaking performances. At the inaugural edition in 2014, a Jamaican quartet clocked 1:18.63 to take down the men’s world 4x200m record while Kenyan teams shattered the standards in both the men’s and women’s 4x1,500m.

In 2015, USA teams stamped their authority on the distance medley event by breaking the records in both the men’s and women’s races. All five records still stand.

Sports Minister Darryl Smith, second right, admire medals won by T&T at the Carifta Games when the tram returned yesterday. With the Minister from left is Timothy Frederick, Tyriq Horsford, Khalifa St Fort and Ianna Roach.

Sagicor gives back with Phoenix Walk Run

$
0
0
Published: 
Thursday, April 20, 2017

On April 22, Sagicor will once again stage the Phoenix Walk Run, a one lap run around the Queen’s Park Savannah, starting at 6 pm, opposite Victoria Avenue.

Sagicor views this event as a chance for personal rejuvenation for participants, while providing an opportunity to support the Down Syndrome Family Network and The Dyslexia Association of T&T.

In a release, Sagicor corporate communications manager Marlene Chin invites citizens “to have fun, while contributing to two worthy charities by being part of the Sagicor Phoenix Walk Run”.

Cathryn Kelshall of The Dyslexia Association said, “We’re pleased to be one of the chosen charities selected by Sagicor. Dyslexia affects many children and adults in the country. The more awareness we can bring to the cause will help in understanding and awareness of the specific methods for teaching dyslexics that are offered by the Association.”

Lisa Ghany of the Down Syndrome Family Network commented that “associations rely on long-term relationships like the one with Sagicor to support their growth and development”.

A special feature of this year’s race is the Sub-20 category where elite runners will vie for the title of fastest person around the Savannah. It is expected that several people will complete the course in under 20 minutes.

Race participants can look forward to tassa, a rhythm section and other fun surprises along the Savannah lap. Participants will receive a medal, a t-shirt and a water bottle.

Race registration is $70 and will be exclusively online at raceroster.com and will close today.

Thursday 20th April, 2017

What do Angelin and Galicia say about the PNM Cabinet?

$
0
0
Published: 
Thursday, April 20, 2017

For the month of April, the two stories referenced in the headline of this commentary have dominated the news cycle in T&T, with both of them generating a great deal of hand-wringing on social media platforms and concerned letters to the editors of local newspapers.

In my view, both the decision by the London-based energy giant BP not to construct the Angelin platform in T&T and the determination by the owners of the Super Fast Galicia to withdraw the vessel from the inter-island cargo service between Trinidad and Tobago reflect negatively on the decision-making ability of the Cabinet of the Republic of T&T.

From the evidence at hand, it can be argued that the failure by Cabinet to make timely decisions on important but time-sensitive issues contributed to the unsatisfactory outcomes of both issues.

Put another way, had the Cabinet heeded the warning of bpTT’s regional president, Norman Christie—that the government needed to sanction the Angelin development in the fourth quarter of 2016—T&T would have had a fighting chance to receive the mandate to construct the Angelin platform.

That warning was made public in an exclusive interview that Mr Christie did with the Business Guardian on March 2016 and one assumes he would have delivered the same caution to the government’s energy officials and the relevant ministers.

What may not have been obvious to all but the more discerning readers of that Business Guardian article is the likelihood that BP linked the sanctioning of the Angelin development with the renegotiations of state-owned National Gas Company’s (NGC) long-term gas supply contract with BP, which is due to expire in 2018.

In other words, BP officials (including Mr Christie) would have told the Government, in no uncertain terms, that for the energy giant to proceed with the Angelin development, it needed a comprehensive gas supply contract with NGC on terms that are more favourable than the existing contract.

The Angelin development is crucial to the medium-term survival of T&T’s petrochemical industries at Point Lisas and the liquefaction facilities at Point Fortin because the natural gas produced by Angelin is expected to replace the output from the Juniper development, which is forecast to begin declining in 2019 from its production peak of approximately 590 million standard cubic feet a day (mmscfd) from five subsea wells

The fact that the Cabinet was not in a position to provide the sanction for the Angelin development in the fourth quarter of 2016—for whatever reason—automatically meant that BP simply could not take the chance that the Oilfields Workers Trade Union (OWTU) and the poor but militant La Brea community would do to the construction of the Angelin platform what they did to the Juniper platform.

And it seems to me that what was done to the Juniper platform was that the workers at the La Brea fabrication yard agreed to a compensation package in order to get their jobs when construction began in the fourth quarter of 2014.

But, by January 2015, those same workers—inspired no doubt by the comrades of the OWTU—were protesting about the inadequacy of the compensation and the fact that more people from La Brea did not get work at the fabrication yard—both of which were masked by complaints about the health and safety conditions at the facility.

In a real sense, then, the Cabinet’s failure to provide the sanction for Angelin in a timely fashion—and at least some agreement on the key terms of the long-term contractual arrangements for the supply of natural gas by BP to NGC—would have compounded the pre-existing wariness of the energy company to trust the La Brea workers to honour their employment contracts. It is a straight case of: “fool me once, shame on you. Fool me twice, shame on me,” and the need by BP to promote and protect shareholder value.

 

On the issue of the cargo service between Trinidad and Tobago, it seems to me that former Works and Transport Minister Fitzgerald Hinds took a Note to Cabinet in April 2016 recommending that the Super Fast Galicia’s contract be extended for 18 months from April 2016 to October 2017.

Cabinet did not approve the Note brought by Mr Hinds, which would have allowed more than enough time for Cabinet to approve a replacement vessel for the service.

Having rejected Mr Hinds’ recommendation for an 18-month extension for the Galicia, Cabinet should have moved immediately, in May 2016, to source a replacement vessel for the inter-island cargo service.

Instead, what Cabinet seems to have done is ignore the issue for eight months, leaving it to fester until the owners of the Galicia—who had been reduced to a month-to-month contract—provided the mandatory two-weeks notice of the withdrawal of the vessel on April 1, 2017

The question that must unavoidably be asked is this: why didn’t the Cabinet move to source a replacement for the Galicia in May, 2016?

Didn’t any one of the 24 or 25 members of Cabinet realise the danger to the inter-island cargo service of not moving immediately to source a replacement for the Galicia?

In the April 12, 2017 edition of the T&T Guardian, Rosemarie Sant reported that former Chair of the Port Authority, Christine Sahadeo, commissioned a March 2016 evaluation of the suitability of the Super Fast Galicia by Captain Alfred McMillan of Magellan Maritime Services Ltd without the knowledge of the Board.

 

Continued on Page 4

That report, according to Mrs Sant’s unrefuted reporting, identified six shortcomings of the Galicia including that it “incurs many added costs because of the berthing configuration which is unsuitable.”

These additional costs included: “There has been a barge hired to use as the landing facility for the stern ramp every time we have to use the Galicia” The barge, he said, “comes at an additional daily cost of US$1,100.”

Captain McMillan recommended that the Galicia be replaced by a more suitable vessel.

In that additional report, submitted in April 2016 (unfortunately no specific date was provided), McMillan identified six vessels to replace the Galicia:

• The MV Straitsman which was at the time trading in New Zealand

• The MV Hammer Rodde, trading in Denmark

• The MV Levante, which was on Charter up to December 2016 in the Mediterranean

• The MV Daltivia which he said “could be made available for sale if the owners can find a replacement

• The MV Clipper Ranger, which is a freight only vessel and which the owners “want to sell,” providing they agree to the “conditions of sale

• The MV Ocean Queen, which was described as a car-truck carrier and which was “immediately available for sale.”

Of the six, McMillan recommended the MV Hammer Rodde, which he said “was most likely to meet the requirements of those instructing me.”

So, here is an apparently well-respected professional providing advice and a short list of potential vessels and indicating the one that he thought “was most likely to meet the requirements of those instructing me.”

That recommendation was made in April 2016.

The questions are these:

• Were McMillan’s reports made available to Cabinet in its deliberations on the issue?

• If the reports were made available to Cabinet, why did Cabinet not at least direct the Minister of Works and Transport to explore the possibility of securing the option recommended by McMillan or one of the other possibilities that he identified?

If the reports were not made available to Cabinet, the former chair of the Port Authority, Christine Sahadeo, has some serious explaining to do, both in terms of why she commissioned reports with regard to the inter-island ferry service, which were not shared with the other directors of the board? Also why didn’t Cabinet have the benefit of expert reports on the shortcoming of the Galicia and its possible replacement?

In conclusion, if Cabinet knew of Mr Christie’s warnings in March 2016 and Captain McMillan’s reports in April 2016 and still ignored these important issues for more than eight months, then the only conclusion that a fair-minded observer—which I consider myself to be—can come to is that the current Cabinet may be dysfunctional or that it simply dropped two large and consequential balls.

I personally would love to know the real explanation for these missteps.

T&T bars DeNovo gas sales to MHTL

$
0
0
Published: 
Thursday, April 20, 2017

The Government has taken a policy decision that the state-owned National Gas Company should be the aggregator of natural gas in T&T, meaning NGC would buy the gas output of upstream producers and then sell that gas to the downstream users on the Point Lisas Industrial Estate.

This was disclosed by Minister in the Office of the Prime Minister Stuart Young at a news briefing at his office earlier this month.

Young disclosed that the decision on NGC’s status between producers and users of natural gas was taken even before Cabinet officially approved the natural gas master plan.

“We have taken a decision that NGC should remain as an aggregator because our position is that ultimately all of this gas belongs to the citizens of T&T and not to any single entity or group,” said Young, making the point that the Government is trying to maximise the returns to the country by the adoption of the policy.

NGC’s role as aggregator means that no company operating downstream can make an arrangement to buy natural gas directly from a producer of the commodity, such as BP, Shell or BHP Billiton. That arrangement would have to be with NGC.

Asked if it made financial sense for NGC to maintain its role as aggregator in the context of the gas producers demanding higher prices and the gas users demanding lower prices, Young said: “Yes. This Government’s position is yes. As you would appreciate there are margins, so obviously you have the formula of margins that can be used.

“But if we open up the market and allow upstream producers to sell directly to downstream users, you would literally have killed NGC.

“The upstream producers are trying to make arguments that the government would continue to get revenue based on the taxation at the wellhead and from the downstream users by the sale of commodities.

“We have taken a policy decision that we are not going to open up the market to just allow new players in upstream to sell directly to downstream.

“There are many different formulations that you can have in between there, so we are thinking outside of the box. There are margins that can be reduced, but there are other areas we are looking at that, if our conversations continue, will revolutionise the way that upstream ends up in downstream with NGC continuing as an aggregator.”

Young said the only gas producers that do not sell gas through NGC are Atlas Methanol, which is partly owned by BP, and Atlantic LNG—whose major shareholders are BP and Shell, both of which sell directly to the liquefaction facilities at Point Fortin.

Atlas Methanol is 63.1 per cent owned by Canada’s Methanex and 36.9 per cent by bpTT.

Proman, which owns MHTL, is also the owner of DeNovo, which acquired two Gulf of Paria blocks, 1(a) and 1(b), from Centrica last April.

Given the difficulties that Proman has had getting gas from NGC, it acquired the two blocks in order to directly supply its methanol, ammonia and petrochemical plants on the Point Lisas industrial estate.

Questioned on why the government would prevent DeNovo from supplying a dedicated stream of gas directly to MHTL, given the precedent of BP supplying directly to Atlas, Young said: “That is a government policy, for exactly the same reason I just outlined to you. That we are not at this time prepared to open it up to allow upstreamers to go directly to downstreamers.”

When it was pointed out that the precedent of BP supplying directly to Atlas was in place, Young said: “One out of how many others. We are not prepared to open up the gates and tell upstreamers go and negotiate directly with downstreamers.”

Questioned on whether the government’s policy to strictly enforce NGC’s role as an aggregator of natural gas was putting the future of Point Lisas at risk, Young said: “No because there are conversations and negotiations taking place.”

DeNovo has an 80 per cent working interest in the blocks, with the Petroleum Company of T&T (Petrotrin), owning the other 20 per cent.

Cabinet confirmed NGC’s status as the natural gas aggregator despite the fact, Young said, that the company had not been able to meet its gas sales contracts with the Point Lisas users since 2010.

He said that NGC had not been able to satisfy the demand for gas from downstream users “because of the upstream producers failure to supply contracted quantities under their gas sales contracts,” to the NGC, for which the established contracts of the upstream producers do not require them to pay NGC any form of damages for this failure.

—Anthony Wilson

Consider raising retirement to 65 years

$
0
0
Published: 
Thursday, April 20, 2017
Economist’s advice to Govt:

T&T’s Government should consider raising the age of retirement from age 60 to age 65 said Dr Roger Hosein, senior lecturer, University of the West Indies (UWI).

According to statistics he provided, T&T’s population has been ageing for the last few years and, according to Hosein, to dampen pension pay-out rates and to reduce the dependency on the shrinking labour force, the T&T government should consider increasing the retirement age.

“Given that the economy is basically at full employment, there is now room for an economic argument—in the context of a change in the life expectancy—to raise the retirement age from 60 to 65. An intervention of this nature would increase the number of people who have great knowledge of the system remaining in the system and, therefore, the value added per dollar spent in terms of stock of knowledge on someone between the ages 60 to 65 may very well be higher than in the age 15 to 19,” he shared with the Business Guardian by email on Sunday.

In February, Finance Minister Colm Imbert said that increasing the official retirement age to 65 from 60 “is an important matter that requires careful consideration and discussion.”

Imbert was delivering feature address at the formal opening ceremony of the new corporate headquarters of the National Insurance Board (NIB) and stressed that pushing back the retirement age was not government policy and that no decision had been taken on the matter.

Hosein added that this does not mean that T&T should employ older people at the expense of younger people. Should the economy experience around five quarters of favourable economic growth—as is forecast with the coming on-stream of the Juniper project later this year—then a shortage of workers, as developed in the economy in the period 2006 to 2012, would return.

With regard to the ageing population of T&T and its relations to government subsidies, Hosein gave statistics to show that the Government’s total expenditure on pensions increased from $473 million to $3billion between 2000 and 2016.

The number of pensioners in T&T’s economy increased from 61,190 in 1990 to 90,800 in 2016.

“This is a very significant increase and has implications for the size of government total expenditure on pensions. The concern with the ageing population does not reside only with the rapid increase in pension payments. It also implies that the T&T labour would become top heavy. Thus between 1990 and 2016 quarter 2, the number of workers in the age group 15-19 and 20-24 fell by 25,100 and 14,800 respectively.”

To deal with the changing demographics, Hosein pointed to the St Kitts and Nevis model that could possibly used in T&T.

“This is something policymakers have to factor into their decision-making programmes and may point to the need for T&T to follow countries like St Kitts and Nevis and implement a citizenship by investment programme but only for people willing to invest approximately US$1 million here and actually be part of the labour force for the next 15 years.”

Ageing populations and its related problems are also issues faced by many countries around the world from Europe to Japan.

 

Age demographics

According to Hosein, the population of T&T has been growing very slowly. But, just as importantly, its distribution has been changing.

In 1962, 4.2 per cent of the T&T population was 65 years or older whilst 42.9 per cent of the population was between the ages 0-14 years.

By 2015, this had changed substantively with 9.23 per cent of the population above 65 years but with the population in the 0-14 years age group, declining to 20.68 per cent of the population.

Hosein said part of the reason for the change in the population structure is the falling birth rate in the T&T economy which fell from 32.4 births per 1000 of the population in 1962 to 14 births per 1000 of the population in 2015. The death rate has increased marginally from 8.37 deaths per 1000 of the population to 8.58 deaths per 1000 of the population, during the same time interval.

“Also note that the life expectancy of the population has been increasing (62.6 years in 1962 to 70.4 years, in 2015). Further, the net migration rates—which are available in five year intervals from the World Bank’s world development indicators—have been consistently negative, though noticeably falling, perhaps indicating the importance of the adhoc immigration into the T&T economy, from various places.”

 

‘Ageing in the Caribbean’

Studies done locally and regionally also raises similar questions.

In 2015, the book “Ageing in the Caribbean,”—edited by Dr Joan Rawlins and Dr Nicole Alea launched at UWI, St Augustine and hosted by the Institute of Gender—shows that by 2050, a quarter of Caribbean people will be 60 and over.

According to a T&T Guardian report, in the first chapter, Rawlins educates readers on how much life expectancy has improved.

In 1911, a Caribbean person was expected to live to just about 40 years, by 1960, this had leapt to 60-plus years and, by 2007, it was around 70.

The book also shares valuable research from 12 scholars from around the region, including T&T, Jamaica, Barbados, Guyana, the Bahamas and Suriname.

The 156-page book covers a wide span of issues: from grandmothers obliged to support adult children and grandchildren; to the challenges of maintaining quality of life when you live longer; to issues of affordable healthcare, protection from abuse, the loneliness experienced by too many old people, and the need for accessible, interesting programmes to encourage healthy, active ageing.

Recession, crisis—no deterrent

$
0
0
Published: 
Thursday, April 20, 2017
IDB’s chief information officer:

A recession would not deter the Inter-American Development bank (IDB) from providing financial support to any of the 29 countries in which the bank has a presence.

Nuria Simo, chief information officer and general manager, department of information technology at IDB, said when countries have financial problems it is institutions like the IDB that are greatly needed. She added that one of the bank’s main objectives is to reduce poverty and fight inequality.

“Precisely when there are problems is when we want to be more active to mitigate the impact that a recession or crisis can have. A recession bothers us like everyone else and that’s when we have to step up,” Simo said in an interview with Business Guardian, last Wednesday, at the IDB’s 17 Alexandra Street, St Clair headquarters.

According to the IDB’s website, the bank defines itself as: “the leading source of development financing for Latin America and the Caribbean. We provide loans, grants, and technical assistance; and we conduct extensive research. We maintain a strong commitment to achieving measurable results and the highest standards of increased integrity, transparency, and accountability. Its current focus areas include three development challenges: social inclusion and inequality, productivity and innovation, and economic integration.”

Asked what are some of the challenges the bank faces, Simo said it is to “stay focused on its mission and to become faster and more efficient as well as to deliver more with less.”

Referring specifically to how the bank gets accountability after assisting a country financially, Simo said the bank has a method to measure the impact of the project.

All parties, she said, come to an agreement about what the output of the project would be as well as other specifics of the project. Projects can range from building a road, to providing funding for infrastructure projects such as airports as well as water and sanitation.

According to its 2016 annual report, the IDB approved a total of 86 sovereign-guaranteed loans for a total financing amount of US$9.3 billion. In terms of country departments, 39 per cent of approved financing was allocated to Central American countries, Mexico, Panama, and Dominican Republic, 34 per cent to Southern countries, 23 per cent to Andean Group countries, and 4.o per cent to Caribbean countries.

With more than three decades of experience in a leadership role across multiple industries including the IDB, Simo said one of the lessons learned is there is always one common denominator: the human being.

“No matter where you go at the end of the day, what you are managing is people and whatever you are doing, you are doing it for people. It doesn’t matter if you are an IT professional, scientist or marketing professional. At the end of the day it is about people.”

Having worked with varying teams through her professional career, Simo said the art of leadership is to find what motivates people. Having diversity in the background or experience in an employee is the main factor that brings value to a team because that’s how critical thinking is developed.

Interaction with different countries across different cultures is not an obstacle, she said because, “I think it is important when you go to a country to make sure you learn the language of that country. When you speak the language, or you understand the language, you understand the culture. The language has lessons that tell you about the culture.”

Simo is a graduate of the Universidad Central de Barcelona, and has a bachelors in economics and business administration. She has held chief information officer positions in Spain, Barcelona, Netherlands, US and the UK.

In her role as mother of two and a leader in her household, as well as her leadership roles in her professional career, Simo said now that her daughters are 35 and 28 respectively being a mom defines her more than all the leadership roles she has played.

“There are stories that prove it is true that different genders have different leadership styles but it does not mean that one or the other has better leadership skills.”

Simo added that women have not been in the professional world for a long time so, “we are catching up. In the past, there were not many role models for women to think they could be at a leadership position.”

What is clear now, she said, is the importance of having role models for young girls so they can see what is possible or available when it comes to holding a leadership position.

Weighing in on her professional experience, Simo said mentoring is important.

“At the IDB we do mentorship not only with women but we do mentorship programmes for men and women at all levels.”


Leveraging media consumption trends

$
0
0
Published: 
Thursday, April 20, 2017
cmb’s media consumption survey gives insight to help marketers, media strategists navigate the local landscape:

Advertising and marketing agency, cmb, has commissioned a survey on media consumption in T&T. Guardian Media Ltd, the media group with the most comprehensive mix of advertising solutions in the country, has partnered with cmb for a series of reports on the survey’s findings to help businesses in T&T identify the best way to market their products and services.

 

Research is critical to almost every facet of business life, pinpointing trends that can be sorted to enable better strategic direction. Media and communications planning for marketing campaigns is serious business since advertising has a critical role in raising awareness, creating interest and desire, and of course, generating sales and maintaining demand.

Improved understanding of media consumption patterns will dictate the future of the industry, as advertising and media placements will be formulated using these insights.

The agency, cmb, a full-service advertising and marketing company based in Charlieville, set out to map, quantify and analyse these patterns to understand the nuances of T&T’s consumers, validating longstanding assumptions about the local market with data.

Understanding these media consumption patterns is fundamental to maximising the return on investment of marketing budgets through more strategic advertising and content placement.

The agency established the framework for the survey, advising its research partners, advising its partners, data analytics firms Lucent Research Ltd and Sacoda Serv Ltd, who conducted more than 900 interviews over a four-month, period from July to November 2016. Respondents represented a sample of people best indicative of the population according to the latest Census data as determined by age, income level, education level and gender.   

The company now uses the data from the survey to inform its planning and execution strategies, helping the company—and its clients—formulate more effective and impactful media plans and rationales to direct marketing communications.

Clients now have a clearer picture of how their target audiences consume media, armed with advice and recommendations for more precise campaigns that will encourage greater audience engagement. Better data also means faster approvals for media schedules, increasing efficiency, allowing execution to be more controlled.

 In 2014, industry data ranked the most prominent media in T&T as print, followed by television and radio—the traditional triumvirate. The cmb survey upends that status quo, showing that in 2016, digital media has been making significant strides in the industry, and that while television and radio still dominate the local media landscape, social media juggernaut, Facebook, has overtaken newspapers as the third most popular media platform in T&T.

Generating a media plan requires high concentration and impact measurement. Communication and media strategists focus on reach, frequency and gross ratings points (GRPs, percentage of target reached times the frequency of exposure), budgets and negotiations. However, a fundamental element that determines media selection is understanding how that target audience consumes media: the landscape, radio station ratings, and market shares.

The survey’s demographic insights have proved to be particularly useful. While television and radio were overwhelmingly popular across demographics, allowing traditional media to maintain a comfortable dominance in the battle for local attention, in key pockets, particularly among the younger generations and the more affluent and higher educated, digital media has been gaining prominence.

Facebook, most notable, features significantly among the younger generation (18-35 years), so brands with an active presence on the social media platform can profit by being able to reach and interact with this market.

 Depending on a company’s strategic goals, brands can leverage the advantage of both traditional and digital media since each offers its own strength in the context of marketing objectives.

The media landscape is dynamic and the insights garnered from cmb’s survey help contextualise the environment for media and marketing strategists. There are more than 35 radio stations, more than 15 television broadcasting services, six local free to air television stations, and more than ten subscription television providers.

Mobile penetration is over 150 per cent, and Internet penetration among the survey’s respondents is over 80 per cent. These are all parameters within which a media strategist needs to work, and the more information they have to make decision on how to best guide a campaign’s direction and allocate budgets, the more precise the reach and returns to the client will be.

As the previous seven articles in this series demonstrate, cmb believes in sharing this data, helping marketers, media buyers and strategists use these results to leverage local media consumption trends among key demographic groups, allowing clients to achieve more effective reach and less scattering loss through more informed audience targeting.

While television and radio were overwhelmingly popular across demographics, particularly among the younger generations and the more affluent and higher educated, digital media has been gaining prominence.

Accounting in the energy sector

$
0
0
—an auditor’s view
Published: 
Thursday, April 20, 2017

Besides other well-documented threats brought about by the current economic climate and the low price of oil, many energy companies face the threat of impairment. For the benefit of non-accountants who may be users of the financial statements of energy entities, it is useful to describe in simple language some of the forces at play regarding this issue from the perspective of an auditor, our bespectacled friends in their crispy white shirts, who are the custodians of public trust.

In the energy sector, the main areas with impairment issues are property, plant and equipment (PPE), goodwill and receivables.

In simple language, an asset is impaired when the value to be derived from it is less than the amount at which is recorded in the financial statements. The following examples help to illustrate what impairment means.

Let’s say that an entity spent $10m to construct a plant. The plant has technical issues and is unable to operate as intended or it cannot get the raw material (natural gas) it needs to operate.

Further, the plant cannot readily be sold in whole or in parts. Its carrying amount of $10m may not be able to be realised in the future. The plant may be impaired and its value would need to be adjusted downwards.

Here’s another scenario.

Company A purchased Company B for $5m. Company B’s net worth at the time of purchase was $3m. Company A paid $2m more for Company B because it expected growth and profits. One year later, Company B went bankrupt and its assets were sold off for $3m. One can see clearly the loss of value, which is an impairment.

In example three, an entity has trade receivables from a customer who is known to be facing financial challenges. The receivables are unsecured, long overdue, and current sales to the customer are not on credit. Calls to the customer go unanswered and several deadlines by the customer to settle have passed. Clearly, there are doubts about the debts owed, and an impairment is on the cards.

Many entities in T&T prepare their financial statements under International Financial Reporting Standards (IFRS), which include all IFRSs and their predecessor standards, International Accounting Standards (IASs). The process of quantifying impairment charges is probably too technical to explain here quickly and simply, but it’s not an exact science. It involves making assumptions.

In most cases, except for revaluations, impairment charges hurt financial results, ie, they are an expense.

Impairments are generally bad news. They can raise eyebrows (and blood pressure) of management, shareholders, investors, bankers and analysts. So management may potentially be inclined to want to minimise its impact, and since independent external auditor needs to ensure the entity’s financial statements comply with the relevant IFRS requirements, this has often resulted battles between auditors and clients.

But it’s worth remembering that the impairment standard was created to avoid overstatement of an entity’s assets. This is of paramount importance and the main driver is to ensure the financial statements are not misleading. Also, since impairment assessments involve the use of estimates and assumptions, management who prepare impairment assessments need to ensure that those are reasonable and supportable.

Auditors need to apply appropriate levels of professional skepticism in auditing impairment assessments. They must challenge their clients in a respectful manner. This process has the potential to become adversarial, so it needs to be carefully managed. Pens can seem like swords; laptops can look like shields.

In some cases, in their effort to be independent and unbiased, the positions taken by auditors could end up being too rigid, so auditors must be also able to listen to their clients’ views, whilst maintaining their objectivity.

If circumstances change in the future, impairment losses can be reversed. So, there may be a silver lining and management should not think that impairments are the end of the world.

In T&T, depending on the items involved, impairment charges have varying treatments as regards tax deductibility. This subject is wide ranging and a lot more can be written.

As Trinidadians we are blessed (and some may say cursed) with the natural energy resources of oil and gas. The prices of these commodities and their downstream counterparts such as petrochemicals have been depressed for the last few years and this is forecast to continue in the short to medium term.

The low-price environment in the energy sector means lower returns for energy businesses. In accounting terms, this means that an entity’s assets may no longer be able to deliver the value anticipated in earlier times.

 

Wendell Ramoutar is an auditor, and ACCA’s international assembly representative for T&T

ACCA

Striving for gender equality

$
0
0
Published: 
Thursday, April 20, 2017

By now it’s a familiar cycle: Every year, International Women’s Day elicits grand statements from politicians and business leaders about empowering women and calls for greater efforts to improve gender equality.

But the momentum generated in early March often dissipates before April, so the same empty appeals are made once again a year later without much having changed. It shouldn’t be this way.

Ensuring equal treatment for women is beneficial to every aspect of our lives. From day-to-day relationships to the way we run our companies, we should always be aware of the issue.

Any effort to advance gender equality must start with basic equal rights. Women struggle for equality every day, in every nation, in both the developing and developed world. In many places, women are still restricted in their ability to make independent economic decisions, to travel freely, to drive a car or to file for divorce.

And of the world’s almost 800 million people aged 15 and older who are illiterate, about two-thirds are women, a proportion that hasn’t changed for two decades.

The struggle for equal rights extends all the way to corporate boardrooms, where only 5.8 per cent of CEOs in the S&P 500 are women. As long as women are excluded from leadership positions, companies fail to draw from the widest talent pool to ensure that the best people are hired. That’s unacceptable and irresponsible.

The World Economic Forum predicts that the gender gap—measured in health, education, economic opportunity and political empowerment—won’t close until 2186. That’s 169 years from now. In the same time span, humankind went from the steam engine to Cassini’s trip to Saturn, and from carrier pigeons to the internet. I’d like to think that we could achieve universal gender equality much faster than that.

And equality should not be considered just a woman’s issue, either. Everyone should be taking action to help achieve parity more quickly, and we will all be far better off once we do.

One way to start is for governments to introduce gender budgeting, which takes into consideration the ways in which policies differently affect men and women. We’ve ignored this for far too long, but there are some great examples of countries moving in the right direction.

For instance, Rwanda’s investments in basic sanitation over the last several years have led to better health and hygiene and have increased the enrollment of more girls in schools. Austria has enacted reforms that adjust taxation on secondary earners, which had previously impeded the participation of women in the labour force.

And Sweden, as a pioneer in this field for over a decade, has been marked as the best country in the world for women. Gender equality remains one of the cornerstones of the country’s society, which has seen its government repeatedly adjust its budget to address challenges such as violence toward women and disparities in pay and economic participation. In addition, the five Scandinavian countries’ legislation of quotas for women on company boards seems to have worked very well.

But it’s not just our governments that can foster effective change. Businesses can and must do much more to promote equality, respect and fairness. Removing barriers like discrimination through education and training is a necessity for business success. This can be done through a variety of company policies, from accommodating the parental demands on both genders to leadership and mentoring programmes for women.

I was particularly impressed to read an announcement in February from the Japanese cosmetics giant Shiseido—which has maintained childcare facilities in their factories for more than a decade—saying that they would be helping other companies set up in-house nurseries through a new venture. The move helps to address the growing issue of women not having children in order to stay in the workforce.

The Sri Lankan-based apparel provider MAS Holdings also sets a positive example with its Women Go Beyond scheme, which has enrolled women in classes on domestic violence awareness, financial management and computer literacy since 2003.

At Virgin, we know that the most successful businesses are the ones that promote a climate of diversity and inclusion. We recognize and celebrate the amazing contributions that women are making in our workforce everyday, and we know that we are a much better business for it. Competing in quite a few sectors that have been dominated by men for decades, many of our businesses are now led by women and employ women in senior roles. Virgin knows that diversity is our strength.

But much remains to be done, and we have identified a number of areas where we could do better. Making gender equality a business priority is the first step toward establishing an environment where all people can thrive because of who they are, not in spite of it.

As governments, businesses and individuals, we must work to foster inclusive markets and societies. Standing up for gender equality should be at the centre of this effort.

 

(Richard Branson is the founder of the Virgin Group and companies such as Virgin Atlantic, Virgin America, Virgin Mobile and Virgin Active. He maintains a blog at www.virgin.com/richard-branson/blog. You can follow him on Twitter at twitter.com/richardbranson. To learn more about the Virgin Group: www.virgin.com.) (Questions from readers will be answered in future columns. Please send them to Richard.Branson@nytimes.com. Please include your name, country, email address and the name of the website or publication where you read the column.)

A beautiful light

$
0
0
Published: 
Friday, April 21, 2017
Guardian newsroom mourns

On September 11, 2016, the Sunday Guardian published a story about Marsha Arvelay, who was then an Associate Editor of the T&T Guardian after spending 16 years with the media house.

The story focused on Arvelay’s struggle with end stage renal failure, her need for a kidney transplant, her trust in God and her belief in love as the greatest medicine.

Shortly after the story was published, Arvelay found a kidney donor and underwent tests in preparation of the much-needed transplant.

She looked forward to discussing a successful surgery in the future and often imagined life after surgery with her friends and family.

But on Tuesday night, after a dialysis treatment in Chaguanas, Arvelay, 44, was rushed to the Sangre Grande Hospital. She died less than 24 hours later in a hospital bed, while Guardian colleagues, dear friends and family waited for news.

The T&T Guardian newsroom and extended family mourns the loss of a woman who was loved tremendously by all and who was kind to everyone. Many said she possessed a genuineness rarely found in the world.

She was a woman who many looked to as a shoulder to lean on, a friend to laugh with, a page designer when you needed a special touch and perhaps the best cook in the newsroom.

Arvelay worked at the Trinidad Guardian newspaper for over 16 years, creating not only good work, but also nurturing young sub editors and reporters alike, as well as contributing to the family atmosphere which was a signature of the Guardian newsroom.

Arvelay started at the Guardian in May 2001, as a graphic artist in the Special Publications Unit (SPU). She was later transferred to the Editorial Department as a senior sub editor in 2003 and was upgraded to an Associate Editor in 2006. In December 2016, she left the Guardian as part of a retrenchment exercise.

She leaves behind her devoted husband Richard, her loving daughter Jodi Marie, and her wonderful grand-daughter Jada, whom she doted on incessantly.

Her former colleagues at the Guardian, had only positive memories to share.

“I will always remember Marsha, full of laughter. She always could see humour in situations other people couldn’t. An amazing cook and always looking for ways to make people happy. She was always willing to listen and comfort a friend in need,” said Marvin Smith.

Another colleague, Vidya Thurab, remembered her as a mother and a sister, always willing to give advice and support.

Mark Thomas, a colleague who sat next to Marsha at work said the world had lost one of its brightest, most beautiful lights. It may have been her colleague Bernadette Millien-Williams that worked with her the longest, over a period of 20 years.

“We moved one after the next working for the same employer to late last year and in those years I have experienced the best pepper sauce, best sweet bread, best curry, bake or stew chicken, geera pork, cheese paste you name it Marsha made it and it tasted amazing.

Marsha never complained and if she did, it had to be unbearable for her to say something about it. I always observed how calm and collected she would respond to situations and I learned from her disposition that being hasty wasn’t always the best solution.”

The article in September was titled “Love is Marsha’s Medicine.” It would turn out to be the truth in multiple ways. Love was the medicine Marsha gave the people who knew her, with every smile and laugh and squeeze of a hand or hug.

“I love you” were the final words Marsha said to me on Tuesday evening, the final words she said to her dear friend Bernadette Millien-Williams, the final dose of medicine for her loved ones.

Funeral arrangements are yet to be announced.

Marsha Arvelay, third from right, with friends and colleagues in happier times.

Crawford dead since October

$
0
0
Published: 
Friday, April 21, 2017
Trini ISIS fighter hit in US drone strike

According to an international newspaper, the Middle East Eye, Crawford, who had been hit it by a US drone strike in October last year, eventually “succumbed to his injuries.”

It said although Crawford had been confirmed as killed, he was added to a list of ‘Specially Designated Global Terrorists’ (SDGT), by the US State Department in March this year.

T&T had also designated Crawford a terrorist.

The newspaper also reportedly contacted Crawford’s mother Joan, who had confirmed her son was hit in a US drone strike in October last year and eventually “succumbed to his injuries.”

“It feels like a part of me has gone. It’s something I know would have happened. As a Muslim I understand and accept, but as a mother I grieve,” the Middle East Eye quoted Crawford’s mother as saying.

Crawford left for Syria in 2013 and was believed to have been the first of more than 100 Trinidadians to leave the Caribbean nation for the Islamic State.

In March this year, Attorney General Faris Al-Rawi obtained a High Court Order under the Anti-Terrorism Act declaring Crawford to be a listed entity and freezing his funds.

The order against Crawford, also known as “Abu Sa’d at-Trinidadi” and “Asadullah,” came after several months of intelligence sharing and investigative cooperation between T&T and its foreign counterparts, including the US and UK.

Crawford appeared in an ISIS recruitment video last year, where he called on Muslims in Trinidad to commit acts of violence against “non-believers.” Crawford, 31, is originally from Enterprise, Chaguanas, was also featured in an ISIS online propaganda magazine.

He first entered the public’s eye after being detained during the 2011 state of emergency and was investigated for an alleged plot to kill former prime minister Kamla Persad-Bissessar. Despite being detained for 14 days, no charges were laid against him.

The US State Department has identified Crawford as an English language interpreter and propagandist for ISIS.

Under US law, sanctions are imposed on “foreign persons determined to have committed, or pose a significant risk of committing, acts of terrorism that threaten the security of US nationals, or the national security, foreign policy, or economy of the United States.”

In 2014, his mother had told another newspaper that her son left this country because of a sense of “inadequacy” with what his life had become in T&T and because of the need to find a greater purpose. She had also said he would never leave Syria to return to T&T.

Jihadist Shane Dominic Crawford
Viewing all 18762 articles
Browse latest View live


<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>