Home' Trinidad and Tobago Guardian : June 16th 2013 Contents A30
Sunday Guardian www.guardian.co.tt June 16, 2013
LOCAL MARKET SUMMARY
Market activity fell this week when com-
pared to the previous week with 1,083,811
shares traded on the First Tier Market.
This represented a decline of 37.87 per
cent on last week s volume of 1,744,471
shares. The value of shares traded fell 19.16
per cent from $25,269,957.73 to
Trinidad Cement Ltd (TCL) was the vol-
ume leader, for the third week in a row, com-
manding 44.76 per cent of the market with
485,125 shares traded.
All three Indices registered weekly declines.
The Composite Index slipped 0.24 per cent
or 2.71 points to end the week at 1,123.89.
The All Trinidad and Tobago Index lost 0.06
per cent or 1.04 points to 1,818.96 and the
Cross Listed Index closed at 55.81, down
0.94 per cent or 0.53 points.
Overall there were nine stocks advancing
and five declining.
The week s major advance was Scotia
Investments Jamaica Ltd (SIJL) which rose
2.89 per cent or $0.05 to $1.78. Jamaica
Money Market Brokers Ltd (JMMB) was the
major decline, down 12.28 per cent or $0.07
to close at $0.50.
There was no activity on the Second Tier
Market this week.
On the TTD Mutual Fund Market, 393,803
CLICO Investment Fund (CIF) shares traded
valued at $8,594,466.26. CIF s share price
rose 4.80 per cent or $1.02 to close the week
In addition, 4,000 Praetorian Property
Mutual Fund (PPMF) shares traded. The
share price declined 2.29 per cent or $0.08
to $3.42. This week, 1,112,384 units in Bourse
Brazil Latin Fund (BBLF) were listed on the
USD Mutual Fund Market effective Tuesday,
June 11, 2013 at a price of US$10.00. This
week saw 15,000 BBLF shares traded valued
In Jamaica, the JSE Market Index advanced
1,353.91 points or 1.52 per cent this week to
close at 88,849.67.
Trading activity resulted in 23,176,760
shares traded valued at J$246,444,531.81.
The volume leader this week was Jamaica
Money Market Brokers Limited (JMMB) with
48.16 per cent of the market or 11,161,242
The major advance was Ciboney Group
Limited (CBNY), up 33.33 per cent or J$0.02
to J$0.08 and the major decline was Carreras
Limited (CAR), down 2.98 per cent or J$1.79
A youth friendly budget that includes sus-
tainable planning with the environment in
mind, greater access to tertiary education
and service sector development, are some
of the recommendations made by a group
of 40 young people who recently met with
Secretary of Finance and Enterprise Devel-
opment in the Tobago House of Assembly
(THA) Joel Jack.
The group, which included secondary school
students, university graduates, youth leaders,
teachers and young entrepreneurs, was invited
by Jack to provide input in planning for the
2014 THA Budget Presentation scheduled for
Jack told the young people the initiative
was aimed at including the ideas of young
people to assist in taking Tobago into the
"Today s exercise gives you, the youth, the
opportunity to inform this administration s
policy agenda for the next financial year, and
inform us about your most pressing issues as
we strive to take Tobago to the next frontier,"
Present at the forum were director of Youth
Affairs, Lyndon Wilson and director of the
Youth Energised for Success (YES) Programme,
Myrtle Looby. Tobago Youth Council president
Farley Augustine, as well as assistant director
of the YES Programme, Senator Shamfa Cud-
joe-Cowan presented papers on behalf of the
Augustine made several recommendations,
including a proposal for a public presentation
of the budget figures which are finally approved
by Central Government and adjustments to
be made by the THA as a consequence. He
called for greater involvement of corporate
Tobago in programmes in the education system
and recognition of the potential of the service
sector for greater contribution to GDP.
Rotaract Club s Devon Nancis raised the
possibility of fair trade branding, a special
trade office to manage the marketing of Tobago
products to global markets and exploration of
a niche market for organically grown produce.
Nancis also asked Jack to give favourable con-
sideration to more affordable housing and land
opportunities given the financial constraints
young people face. "By all means maintain
the programme for adults and families," he
said," but a specific housing policy directed
at youth land ownership should be a prior-
Senator Cudjoe-Cowan offered several sug-
gestions and called for clearer definition of a
youth agenda, flexible work hours for Tobago
and passing of legislation to regularise land
registration and titling to facilitate the passing
of property by families to young people.
At the close of the consultation, Jack said
he was proud of the quality and range of ideas
that came from the young people and the
positive level of interaction that transcended,
political and religious affiliations. He empha-
sised that the forum was not simply a token
gesture and that the some of the ideas were
worthy of incorporation into the Budget 2014,
as a matter of priority.
He further called for greater collaboration
between young people and the THA and made
a commitment to meet with the youth body
regularly to discuss policy matters and project
development. The youth consultation was part
of an islandwide series by the Division of
Finance and Enterprise Development to engage
stakeholders in the preparation of the budget.
Jack has already met with representatives of
the T&T Chamber of Industry and Commerce
and the Tobago Tourism and Hotel Associ-
Youths share ideas for THA budget
Links Archive June 15th 2013 June 17th 2013 Navigation Previous Page Next Page