NGC profit up 37% to $989 million

The NGC Group has recorded profit after tax of $989 million for 2017, a 37.3% or $269 million increase above the 2016 reported profit after tax of $721 million.

Revenue increased by $2.977 billion from $10.903 billion in 2016 to $13.881 billion, driven by higher ammonia and methanol prices of 2% and 61% respectively.

A statement by the NGC says that the board and management’s agenda to re-engineer the business for sustainable growth, improved profitability and continuous industry-wide development has been successful.

Chamber: Galleons Passage is a retrograde step for Tobago

Ther Chamber of Industry and Commerce is expressing concern over the collapse of the ferry service between Trinidad and Tobago and says the Galleons Passage is a retrograde step for Tobago.

The Chamber issued a statement on the seabridge problems, on Monday.

"The Trinidad and Tobago Chamber of Industry and Commerce (TTCIC) is extremely concerned by what is now an almost-total collapse of the ferry service between the two islands.

NGC signs agreement with Global Petroleum Group

The National Gas Company (NGC) has announced that it has finalised a commercial agreement with Global Petroleum Group (GPG) operating in Grenada.

The company says this agreement marks a major development in the collaboration and energy cooperation among CARICOM countries, and is an important pillar in growing and strengthening the region’s economies.

The relationship between the two companies is a result of the Energy Sector Development Framework Agreement signed between the Government of the Republic of Trinidad and Tobago (GORTT) and the Government of Grenada.

Samsung launches Galaxy S9

Samsung launched its S9 and S9+ cellphones to customers at Trincity Mall yesterday.

Samsung’s sales manager for Latin America Terry Weech told cellphone enthusiasts the new devices are the most modern cellphone in the world and can serve for many purposes.=

The phone has the capacity to take photos which are comparable to the quality used by media houses, Weech said.

The phone carries a 12-megapixel rear mcamera.

People who were shown the capacity of the phone were excited by the functions of the S9 and S9+ cellphones.

Emile Elias loses Westmoorings lawsuit

Contractor Emile Elias has lost his over three decade long legal battle with a property developer over a townhouse community in Westmoorings.

Delivering a 24-page judgment at the Hall of Justice in Port-of-Spain yesterday morning, Appellate Judges Peter Jamadar, Gregory Smith and Andre Des Vignes dismissed Elias’ appeal over the decision of a High Court judge in 2013 to order him to pay Westmoorings Limited $1.2 million in compensation for delays in completing the project in the 1980s.