Business News – Sept 5th

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    NCB Financial Group Limited has announced that the Financial Services Commission has advised of its non-objection to the sale of shares in Advantage General Insurance Company Limited by NCB Capital Markets Limited.

    It is being sold to Sagicor Investments Jamaica Limited, Fundy Bay Equity Holdings Limited and Resource In Motion.

    NCBCM expects to complete the transaction in the coming weeks, once other relevant conditions have been satisfied.

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    Workers at TCL’s Claxton Bay plant have complied with the company’s introduction of mandatory breathalyser testing for workers before entry to its Claxton Bay and Mayo plants.

    The mandatory testing was instituted on Monday and was met with resistance from the workers and their union, the OWTU.

    Branch president Ahmad Mohammad says workers were complying because of the country’s prevailing economic situation.

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    BP Group chief economist Spencer Dale believes Trinidad and Tobago is, at the moment, a competitive producer of natural gas.

    However, he says keeping gas production levels up while at the same time maintaining competitive prices will be a difficult challenge going forward.

    He says though, these are not impossible objectives.