Home' Trinidad and Tobago Guardian : January 8th 2015 Contents BG22 | INTERNATIONAL
BUSINESS GUARDIAN www.guardian.co.tt JANUARY 2015 • WEEK TWO
Airports Authority of Trinidad and Tobago ('the Authority')
invites suitably qualified firms and individuals to submit
proposals for leasing and developing land at the Piarco
AeroPark for Warehousing Operations. This is an attractive
opportunity to operate in one of the most high-traffic areas
in Trinidad and Tobago.
The Piarco AeroPark is a mixed use business park just north
of the Piarco International Airport in Trinidad and Tobago.
The Piarco AeroPark is the first aerotropolis or airport city in
the Caribbean. It will contain zones for various activities
Copies of the RFP can be obtained from December 30th
2014 between 8:00a.m. and 4:00p.m. at the Cashier's
Booth, Airports Authority Administration Centre, Piarco
International Airport, South Terminal, Golden Grove Road,
Piarco, Trinidad and Tobago upon payment of a non
refundable fee of US$200.00 plus VAT.
A Pre-Proposal Conference and Facility Tour will take
place at 10:00a.m. on March 04th 2015 at the following
Proposers and their representatives are encouraged to attend
the Facility Tour to acquaint themselves with the conditions
therein which may influence their proposals.
The deadline for submission of proposals is April 28th 2015
at 2:00p.m. AST. Late submissions will not be considered.
The Authority does not bind itself to accept the lowest or any
Questions or requests for further information should be
The Secretary Tenders Committee
The subject line should read
at the Piarco AeroPark
TrINIDAD AND TOBAGO
Weakness in the
such as Ger-
choking off the growth emerging in countries
that were at the forefront of the region s
debt crisis, a closely monitored survey indi-
In its monthly survey of business activity,
financial information company Markit said
the eurozone ended 2014 on a tepid note
despite "signs of life" in countries like Ireland
and Spain, which were hit hard by the finan-
That s another potential headache for
policymakers across the region. As well as
fears that the eurozone will soon suffer a
bout of deflation, or falling prices, which
can choke the recovery further, there are
renewed concerns over Greece s future in
the eurozone. In concert, they ve renewed
pressure on the euro and exacerbated the
fall in oil prices.
Many of the problems confronting the
eurozone would be helped by economic
growth but survey after survey shows that
prospect remains distant.
Markit s so-called purchasing managers
index---a gauge of business activity across
manufacturing and services---reinforced that
picture. Its main index rose to 51.4 points
in December from 51.1 the previous month.
However, that was down from a preliminary estimate
for December of 51.7, with figures above 50 indicating
Overall, Markit suggests that the rate of economic
expansion during the fourth quarter was the weakest
since the third quarter of 2013.
Markit estimates that the eurozone, which now
numbers 19 countries following Lithuania s adoption
of the euro at the start of January, grew by a quarterly
rate of 0.1 per cent in the last three months of the
year, continuing the trend of minimal growth since
the recession ended in mid-2013.
"The eurozone will look upon 2014 as a year in
which recession was avoided by the narrowest of
margins, but the weakness of the survey data suggests
there s no guarantee that a renewed downturn will
not be seen in 2015," Markit s chief economist Chris
Williamson said he was particularly concerned by
the downturns in France and Italy, as well as the
"stuttering" performance of Germany, Europe s eco-
He warned that the recoveries in countries like
Ireland and Spain, which are enjoying their best
growth spells in years, "are in danger of being extin-
guished by malaise spreading from the region s largest
The weak data will likely add to calls for more
aggressive action from the European Central Bank.
Its president, Mario Draghi, recently hinted that the
bank stands ready to launch a full-blown bond-
buying programme similar to those undertaken by
other central banks, such as the US Federal Reserve
and the Bank of England. Many experts think the
ECB could make the announcement at its next mon-
etary policy meeting on January 22.
Although the ECB has cut interest rates to record
lows and backed the purchase of some private-sector
bonds, it has refrained from a full-scale bond-buying
programme---so-called quantitative easing, or QE.
The euro has been in retreat for months on the back
of expectations that the ECB will back a further stim-
ulus as traders anticipate more of the currency in
circulation. On Monday, the euro fell to a nine-year
low against the dollar below US$1.19.
While anemic economic growth across the eurozone
is a major source of concern for policymakers at the
ECB, it is too-low inflation that s prompting the
speculation of further action.
Inflation, at last count, stood at 0.3 per cent, far
below the ECB s target of annual price increases just
below 2.0 per cent. Figures Wednesday are expected
to show a further decline, with some economists
predicting an actual decline due to sliding oil prices.
The benchmark New York rate has fallen below US$50
for the first time in nearly six years.
Although falling prices may sound good, so-called
deflation can choke the life out of an economy if
consumers put off purchases in the hope of future
bargains, and companies struggle to remain profitable.
Deflation can prove difficult to reverse, as evidenced
by Japan s economic stagnation over the past two
Eurozone's big economies
increasingly drag on the region
While anemic economic
growth across the
eurozone is a major source
of concern for
policymakers at the ECB, it
is too-low inflation that's
prompting the speculation
of further action.
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