Regional News

Colman report knocks T&T Central Bank in Clico, HCU fiasco

-regulatory control seriously lacking

President Anthony Carmona receives the report of the commission of enquiry into Clico from secretary to the commission, Judith Gonzales, at the Office of the President, St Ann's, yesterday.

(Trinidad Guardian) Deficiency in the Central Bank’s regulatory control of the insurance industry and the respective “visions” of CL Financial chairman Lawrence Duprey and Hindu Credit Union chairman Harry Harnarine have come in for criticism by chairman of the Clico/HCU commission of enquiry, Sir Anthony Colman.

Antigua and Sandals in tax row

-T&T weighs approval of resort

(Trinidad Guardian) As T&T weighs up approving the construction of a Sandals Resort in Tobago, Antigua and Barbuda’s Prime Minister Gaston Browne has been engaged in a testy public exchange with Sandals Chairman Butch Stewart over Sandals’ retention of sales tax income, by what the Antiguan government has called “an unlawful agreement.” Sandals collects an Antigua and Barbuda Sales Tax (ABST) from its customers and, according to Browne, keeps 65 per cent of the yields.

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