Home' Trinidad and Tobago Guardian : September 12th 2015 Contents PUBLIC TENDER NOTICE
FashionTT invites expressions of interest
for the following services:
Provision of Services for
FashionTT Inward Buyers Mission
1. Interested service providers are invited to go to
www.fashiontt.co.tt/inbuy to obtain detailed information on
the services required.
2. Tenders will be open from Friday 4th September -
1 th September, 2015. This Timeline will be strictly adhered to.
3. For further information and assistance, please contact Ms.
Aisha Stewart at 628-1156 or firstname.lastname@example.org
Detailed requirements on the expected
services can be found on
Saturday, September 12, 2015 www.guardian.co.tt Guardian
WASHINGTON---The federal government
ran up a much smaller budget deficit in
August than a year ago, remaining on track
to record the smallest annual deficit in
The Treasury Department said yesterday
that the deficit in August totaled US$64.4
billion, a drop of 50 per cent from the same
month a year ago.
Much of that improvement reflected
quirks in timing related to the calendar.
Some US$42 billion in August benefit pay-
ments were made in July because August
1 fell on a Saturday.
Through the first 11 months of this budget
year ending September 30, the deficit is
running ten per cent below last year s level.
The Congressional Budget Office is fore-
casting that the deficit for the full year will
drop to US$426 billion, down 11.8 per cent
from the previous year as a stronger econ-
omy brings in more tax revenue.
The 2014 deficit was an improvement
from a deficit of US$679.5 billion in 2013.
For the four years before 2013, the deficit
ballooned to annual deficits above US$1 tril-
lion, reflecting a deep recession that cut
into tax revenues and expanded government
spending on such programmes as unem-
ployment benefits and a stimulus package
aimed at jump-starting growth.
Through the first 11 months of this year,
government revenues total US$2.88 trillion,
up 8 per cent from the same period a year
Government spending over the past 11
months is up 4.8 per cent to US$3.41 tril-
The CBO s forecast of a 2015 deficit of
US$426 billion would be the lowest imbal-
ance since the deficit stood considerably
lower at US$160.7 billion in 2007.
The huge deficits over the past eight years
pushed the national debt up to a current
level of US$18.1 trillion, US$25 million below
the current debt limit set by Congress. Since
March, Treasury Secretary Jacob Lew has
been employing emergency measures to
keep the government from going over the
In a letter to Congress on Thursday, Lew
estimated that the emergency measures he
is now employing will last until late October
or possibly into early November. He urged
Congress to move to increase the debt limit
to avoid the brinksmanship that occurred
in August 2011 when a standoff over raising
the debt limit prompted the first-ever down-
grade of the nation s credit rating by Stan-
dard & Poor s.
Republicans in the House Ways and
Means Committee passed legislation this
week which supporters said would take the
threat of an unprecedented default by the
United States on its debt obligations off the
The bill would allow the government to
keep borrowing to pay investors in Treasury
bonds as well as Social Security recipients.
Federal workers and retirees, soldiers and
veterans would not get paid until the debt
limit was raised.
All Democrats on the committee voted
against the measure, and the Obama admin-
istration has rejected a piecemeal approach
to meeting the government s obligations.
The bill now goes to the full House.
In addition to facing a fall deadline for
raising the debt limit, Congress also faces
an October 1 deadline for approving a budget
for the start of a new budget year. Without
a new budget, portions of the government
would be forced to shut down until the
spending impasse is resolved. The last partial
government shutdown lasted for 16 days in
October 2013. (AP)
US budget deficit drops to $64.4bn
BEIJING---The former boss of one of China s biggest
state-owned conglomerates has become the latest
senior figure snared in a wide-ranging anti-cor-
Song Lin, former chairman of China Resources
(Holdings) Ltd, was expelled yesterday from the ruling
Communist Party and turned over to prosecutors,
the party s discipline agency announced. It said he
is accused of embezzlement, adultery and taking
bribes. China Resources has 450,000 employees and
owns China s biggest beer brewer and supermarket
operator as well as businesses in electric power,
finance and real estate.
The company reported profit of US$6.7 billion last
year and US$145 billion in assets.
Song was fired last year in the midst of an anti-
corruption campaign that has snared a former member
of the ruling party s inner circle, Zhou Yongkang,
and executives at oil and other state-owned com-
The crackdown was launched by President Xi Jin-
ping after he came to power in mid-2013. He has
promised to pursue senior officials as well as lower-
An aide to former President Jiang Zemin, former
generals and the head of the national volleyball pro-
gramme also have been detained.
Investigators believe Song took bribes in exchange
for promotions and business decisions, spent company
money on playing golf and committed other "serious
violations of political discipline," the Central Com-
mission for Discipline Inspection said. It said the
proceeds of illegal acts would be seized. (AP)
Boss of Chinese
Secretary of Treasury Jacob Lew testifies
at a Senate Foreign Relations Committee
hearing on Capitol Hill, in Washington.
Links Archive September 11th 2015 September 13th 2015 Navigation Previous Page Next Page