Home' Trinidad and Tobago Guardian : February 15th 2015 Contents SBG16 FINANCE
SUNDAY BUSINESS GUARDIAN www.guardian.co.tt FEBRUARY 15• 2015
Building Works for e TecK's New O ce Space at Tamana InTech Park
Evolving TecKnologies and Enterprise Development Company Limited ("e TecK") hereby invites the
submission of Tenders from eligible bidders for the provision of Building Works for e TecK's New
O ce Space at e TecK's Flagship Building at Tamana InTech Park.
The duration of the contract must not exceed six (6) weeks from the date of signing the agreement.
Bidding will be conducted through the Two Envelope Competitive Bidding process in accordance
with e TecK's procurement guidelines and is open to all suitably quali ed bidders.
Interested eligible bidders may obtain further information from tender documents at the o ce of
The Secretary, Tenders Committee at the following address:
Evolving TecKnologies and Enterprise Development Company Limited (e TecK)
131 Uriah Butler Highway
from 8.00 a.m. to 4.00 p.m. on weekdays, no later than Tuesday 24th February, 2015 at 4.00 p.m.
A complete set of bidding documents may be purchased by interested bidders upon payment
of a non-refundable fee of Two Thousand Trinidad and Tobago Dollars (TTD 2,000.00).
The method of payment will be cash or certi ed cheque. Only bidders who have purchased the
bid documents will be eligible to submit tenders.
A mandatory site visit is scheduled for Wednesday 25th February, 2015, promptly at 10:00 a.m.
Tenders must be depositied into the marked Tender Box at the above address. All bids must be
accompanied by a bid security of Seventy-Five Thousand Trinidad and Tobago Dollars
or an equivalent amount in a freely convertible currency. Tenders must be submitted in strict accordance
with the Tender Documents.
Tender Closing Date: Thursday 12th March, 2015 at 2.00 p.m.
e TecK does not bind itself to accept the lowest or any Tender and reserves the right to negotiate nal
price with any Tenderer.
Evolving TecKnologies and Enterprise Development Company Ltd (e TecK)
131 Uriah Butler Highway, Charlieville, Chaguanas
FOR RENT DOWNTOWN PORT-OF-SPAIN
IDEAL FOR LAW OFFICE
1000 SQ. FT. OFFICE SPACE PLUS
155 SQ. FT. COMMON AREA
PARKING AND SECURITY AVAILABLE
For further information please call
What US$294 trillion market of
global financial assets looks like
So, how big is the global market for financial assets? We re talking about stocks, bonds,
and all of the various securities in between you can invest in.
Deutsche Bank s Sanjeev Sanyal estimates the value of the whole market to be about
US$294 trillion. It includes a US$69 trillion stock market. The rest includes bonds and
other sorts of fixed-income-type securities. The $58 billion public debt securities market
includes government bonds.
"We found that the stock of world s financial assets continued to grow in 2014 but
fell slightly as a percentage of global GDP," Sanyal wrote in a massive note called "Mapping
the World s Financial Markets." "Investors will not be surprised to hear that fund flows
to developed country equity and bond funds did much better than those to emerging
markets in 2014; the trend seems to have extended into 2015," he said. "Importantly, the
increase in the stock of global financial assets has not helped the volume of turnover
in equity and bond markets which remain below the 2011 peak." AP
Will Europe drag
down the world?
While Greece is dominating the
headlines, two other recent pieces
of news underscore why the EU
is in a serious economic and polit-
ical crisis that could have devas-
tating consequences for the US and the rest of the
One event is well known. The European Central Bank
announced that it will embark on a gargantuan bout
of quantitative easing to pull the continent s stagnant
economies out of their slump. The ECB is repeating
the mistakes of the Federal Reserve and the Bank of
Japan. It will be buying government securities (though,
theoretically, the central banks of particular countries
will bear the risk) to boost bank reserves and suppress
interest rates. In a normal world banks would then boost
their lending, taking this "high-powered money" and
The rate of interest is the price a borrower pays for
"renting" the money. Price controls always harm and
distort markets. Suppressing interest rates has seriously
distorted credit markets around the world, making it
more difficult for new, small and medium-size businesses
to get adequate credit at reasonable terms. Most house-
holds face the same situation.
Now we come to the lesser-known story: No sooner
had the ECB embraced the Fed s failed policies (it s no
coincidence that as the Fed wound down and ended
QE, job creation in the US improved) than the news
came that the ECB would tighten capital requirements
on European banks. Even institutions that meet regulatory
capital levels today will be urged to beef up their capital
The ECB s cluelessness is breathtaking. How does a
bank increase its capital cushion? By selling new equity,
cutting dividends--and making fewer loans. Regulators
are obsessed with gauging a bank s "risk-adjusted assets."
Europe s troubled economies will continue to stagnate.
As the elections in Greece demonstrate, these troubles
are leading to ugly political repercussions. France s xeno-
phobic, fascistic National Front has gained immense
new support. Radicals are set to dominate Spain s elec-
tions later this year. May elections in Britain could set
in motion a train of events leading to the Sceptred Isle s
withdrawal from the EU. A collapse of the EU and the
euro would be disastrous, putting the world on a chaotic
course not seen since the 1930s. Forbes
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