Home' Trinidad and Tobago Guardian : June 4th 2013 Contents A15
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BERLIN---A global airline industry
group says it expects carriers to
generate $12.7 billion in profits this
year thanks to packed planes.
The International Air Transport
Association says it is revising its
previous profit estimate of $10.6
billion upward by 20 per cent for
2013. The new profit forecast is a 67
per cent increase on the $7.6 billion
major airlines earned in 2012.
IATA said in a statement Monday
that if its forecast holds, the global
airline industry will have its third
strongest year since 2001.
It says lower oil prices, due to
increasing supply, have also helped
hold down costs while seat
occupancy rates average a record
high of 80.3 per cent. (AP)
Strong year forecast for airline industry
China's investments in T&T serves
the Asian superpower's self interest
rather than broader Caribbean devel-
opment says Anthony Desir, a T&T-
born investment banker in Hong Kong.
"China serves Chinese interest first
and China has a clear local strategy for
each place where it operates. Smaller
countries are usually so pleased to get
the attention and the aid that China
brings they normally do not realize that
if they did have a coherent China count-
er-strategy they could get more from
the relationship," he told the T&T
Guardian via e-mail yesterday.
Desir's statement comes after the
three day state visit to T&T by China's
President Xi Jinping.
The Wall Street-trained investment
banker, who has lived in Hong Kong
for nearly 25 years, said most of the
time the benefit of doing business with
China is short term.
"Let us be clear, yes, Caribbean states
will get something from their China
relationship. Can they do better if they
understand the Chinese agenda?
Absolutely. The problem is that so many
leaders are just happy to accept what
is on the table. Few understand that
there may be far more involved if they
understood China's goals," Desir said.
However, he added, in the past more
established institutions like the World
Bank and the International Monetary
Fund (IMF) have not worked so well for
"China's economic assistance is very
helpful to small countries, but not for
reasons that one might assume. Once
China appears as economic force, every
country involved can use the China card
to negotiate better terms from all parties.
The IMF and The World Bank have his-
torically been poor partners for smaller
countries and at the very least China
is bringing an alternative to the table.
But ultimately it is those countries with
visionary leadership that do well," he
Speaking about specific projects in
T&T that China was funding, such as
the Children's Hospital in Couva, Desir
said only a fool would believe that China
is doing this for charity purposes.
"Why is China in T&T first and the
rest of Caribbean? China is not there
to build hospitals for children in Couva,"
According to Prime Minister Kamla
Persad-Bissessar, the value of bilateral
trade between China and T&T reached
an historic figure of US$627 million in
Xi announced a $250 million loan for
the Children Hospital in Couva as well
as agreements in other areas such as
energy, medical services and culture.
Desir is head of corporate finance at
Selective Asset Management Inc, (SAMI)
and the fund's lead partner in Asia,
where he has developed a representation
relationship with one of China's leading
SOE investment banking groups.
He has headed the China-Africa
investment consultancy practice since
2007, and is recognised as one of the
region's experts on China-Africa
resource capitalisation solutions. He is
an experienced professional who has
been a featured presenter at a number
of industry forums, and an author and
columnist who has been profiled and
interviewed in resource publications
which promote independent market
Desir has lived and worked in Hong
Kong since 1990. His career began in
New York, where he worked as a man-
agement consultant to US based money
centre banks and multinational insur-
ance companies. Desir graduated from
Dartmouth College, with honours, in
A new executive director
took up duties at the United
Trust Corporation yesterday.
Ian Chinapoo takes over from
Eutrice Carrington who has
been at the UTC for 22 years
and had held the top position
for two years.
Chinapoo joins the UTC after
a successful stint at CIBC First-
Caribbean. He previously held
the post of business head at
Citigroup's Global Corporate
and Investment Bank in The
Bahamas, as well as vice pres-
ident/senior transactor in cap-
ital markets for the Caribbean
and Central Americas region at
Citibank International in Miami
and vice president with respon-
sibility for structured finance
and product development while
at Citibank Trinidad.
Chinapoo has a BSc in
Accounting with first class
honours from the University of
the West Indies and has tutored
and lectured in the MBA,
advanced diploma and CIMA
programmes at UWI's Institute
of Business in Trinidad from
1996 to 2000.
The UTC held a farewell
function for Carrington last
Wednesday at the Corporation's
headquarters, where she was
praised for her invaluable con-
tribution to the organisation.
Trini investment banker in Hong Kong:
Benefit of doing business
with China short term
Chinapoo takes helm at UTC
Newly appointed UTC executive director, Ian Chinapoo and
chairman, Wendell Mottley, give their best wishes to Eutrice
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