Home' Trinidad and Tobago Guardian : March 3rd 2016 Contents A20
Guardian www.guardian.co.tt Thursday, March 3, 2016
LASER SKIN TIGHTENING
LASER HAIR REMOVAL
LASER ACNE SCAR REVISION
LASER PIGMENTATION REMOVAL (eg Age Spots etc)
#32 GOODING VILLAGE, CIPERO STREET, SAN FERNANDO
SAVE THIS CARD
FOR 20% OFF
YOUR FIRST PRO-
#1-7 Fitz Blackman Drive
(next to the National Stadium)
Port of Spain, Trinidad W.I.
Fax: 868 623-6766
with quali ed MRI Technologists,
MRI Radiologists and MRI Physicists.
The country's most
1997 - 2015
BRIDGETOWN---Emerging markets, includ-
ing those in the Caribbean, must find new
models of economic growth, and the first
step is to move away from models based on
high government spending or driven by debt,
says Natalie Mansoor, head of asset manage-
ment at RBC Investment Management (Bar-
Speaking at the recent Annual Forecast Din-
ner hosted by the Chartered Financial Analyst
(CFA) Society Barbados, Mansoor noted that
many Caribbean economies have traditionally
linked their growth cycles to the external envi-
ronment, together with reliance on one or two
products or services.
"It is a simple model," she said. "In good
times spend. In bad times borrow and continue
to spend and wait for good times to come
But Mansoor said the problem with this
approach was that without stronger growth
cycles the debt simply continued to grow. As
a result, she said she expected to see down-
grades, debt restructuring and defaults.
She added: "I expect devaluations. They are
inevitable, whether we choose them or have
them forced on us."
She told CFA members and guests that slow
growth in wages had become a drag on con-
sumption in developed markets, and growth
in the global economy would have to come
from emerging markets with growing popu-
lations and rising incomes. In the United States,
for example, she said, growth in wages was
not keeping abreast of job creation.
"In the US we have unemployment of five
per cent, but we still see low wage growth.
Normally, we should be getting more wage
growth," Mansoor said.
The investment banker said two major factors
were now keeping the lid on wage growth in
developed markets. First, most of the jobs being
created are low-skilled and low-paying. Sec-
ondly, the declining cost of automation is dis-
placing middle skilled jobs.
In their presentations, both David Noel, Sco-
tiabank s managing director, Caribbean East,
and Donna Wellington, CIBC FirstCaribbean s
managing director---Barbados Operating Com-
pany, also warned that high indebtedness and
large fiscal deficits continued to undermine
hope of meaningful growth.
Made up of approximately 50 local invest-
ment professionals, the CFA Society Barbados
is a member of the Chartered Financial Analyst
Institute, a global not for profit organisation
comprising over 135,000 investment profes-
sionals worldwide. (CMC)
GEORGETOWN---Oil exploration efforts
have intensified following the discovery
of commercial quantities of oil in
Guyana s Maritime Zone.
Esso Exploration and Production Guyana
Ltd (EEPGL) has commenced a meteor-
ological and oceanographic survey in the
Stabroek Block, scheduled to be completed
during May 2018. And March 9 will see
the commencement of seismic surveys
within the Canje block for a period of six
Minister of Natural Resources Raphael
Trotman told the National Assembly that
there is growing interest in Guyana s
hydrocarbons, and as such, Exxon Mobil
will also undertake further exploratory
drilling of another well.
"The time has never been as propitious
for petroleum exploration, as the low prices
have led to a high availability, at good
prices, of specialised skills, exploratory
rigs and equipment, all of which make
exploration very encouraging," he said.
The Ministry of Natural Resources will
be placing significant emphasis on capacity
building during 2016, with the develop-
ment of a framework for a Petroleum
Agency and the conceptualisation of an
institute in collaboration with the Educa-
International Development partners have
signalled a willingness to train young
Guyanese to assume responsibility to lead
the petroleum industry in the decades
ahead. Anticipating the finances that will
be garnered from the oil sector, a Sovereign
Wealth Fund will be developed.
This will protect the economy from the
volatile nature of mineral revenues, and
help grow and modernise the sustainable
non-extractive sectors of the economy.
to move away from
Minister of Natural Resources
Raphael Trotman told the
National Assembly that there
is growing interest in
Guyana's hydrocarbons, and
as such, Exxon Mobil will also
undertake further exploratory
drilling of another well.
Oil exploration activities
in Guyana waters intensify
Links Archive March 2nd 2016 March 4th 2016 Navigation Previous Page Next Page