AGP Executive Report

Hotel Sector Watch: Trinidad Hilton staff fear job losses if Hilton exits the country, as the CWU warns about potential displacement of about 300 workers; the Works and Land and Legal Affairs minister says arrangements are “not affecting the workers,” while negotiations continue on upgrades and infrastructure. Governance & Transparency: A Tobago High Court judge rejected E-IDCOT’s bid to be exempt from the Freedom of Information Act, ordering it to reconsider disclosure requests tied to the Manta Lodge Hotel and Dive Centre franchise agreement. Disaster Risk & Behaviour: Works and Infrastructure Minister Jearlean John told a Disaster Risk Management conference that resilience must show up in maintained roads, drainage and coastal works, and also in changing flood-prone habits. UN Spotlight for T&T: Trinidad and Tobago was elected to the UN Security Council for 2027–28, with local officials framing it as a platform with real implications for peace, security and development. Global Trade Pressure: The US USTR proposed Section 301 forced-labour tariffs affecting dozens of economies, a reminder of how trade rules can quickly reshape import costs and supply chains. Corporate Leadership: TDC Group named Trinidad business executive Christopher Lewis as Chief Financial and Operations Officer, a regional management boost for the St Kitts-based group.

UN Diplomacy: Trinidad and Tobago won a non-permanent seat on the UN Security Council for 2027–2028, beating the odds with 181 countries backing the bid; the election also saw Austria, Portugal, Zimbabwe and first-time member Kyrgyzstan take seats, while Germany suffered a rare defeat. Local Governance & Transport: The maxi-taxi shutdown again exposed how fragile T&T’s transport system is when it leans too heavily on one operator group, with commuters and businesses hit by gridlock and lost productivity, reigniting calls for resilient mass transit planning. Business & Policy: Former attorney general Faris Al-Rawi urged the Government to fully activate the Civil Asset Recovery and Unexplained Wealth Act after a Privy Council win, saying it should be used aggressively to tackle unexplained wealth and corruption-linked crime. Energy & Industry: The Trinidad and Tobago Aggregate Producers Association backed the Ministry of Energy’s hold-over letters for quarry operators, aiming to keep the sector running while licensing bottlenecks are addressed. Entrepreneurship: Trinidad-based consultant Krystle Phillips argues many business stress issues are structural—broken systems, unclear roles and inefficient processes—not personal failure.

UN Security Council: Trinidad and Tobago won the Latin America/Caribbean seat for 2027–28 with 181 votes, while Germany’s bid failed as Portugal (134) and Austria (131) took the Western Europe seats; Kyrgyzstan beat the Philippines for Asia. State of Emergency & protests: Business groups are urging the Government to justify any SoE extension with clear results and safeguards for rights, as unions and opposition leaders push back against no-protest zones. Maxi-taxi disruption: South businesses report limited impact during the maxi-taxi protest, citing support measures for commuters. Banking & investment industry: CIBC launched its 2026 Unsung Heroes Programme, and CFA Society T&T honoured First Citizens CEO Jason Julien and UTC CIO Crystal Rodriguez-Greaves. Regional economic cooperation: Premier André Ebanks highlighted CFATF-focused anti-money laundering cooperation and meetings with T&T officials and industry on trade and health-linked resilience. Public safety & crime: A violent night in south Trinidad left multiple victims dead across separate incidents, with police investigating simultaneously.

UN Security Council Seat: Trinidad and Tobago has been elected unopposed as a non-permanent member of the UN Security Council for the 2027-28 term, joining Zimbabwe, while Portugal and Austria won the Western Europe seats and Germany lost its bid. Local Governance & Protest Rules: Prime Minister Kamla Persad-Bissessar says no rescinding of State of Emergency no-protest zones is planned, even as unions push for removal and a national shutdown call. Public Order: The TTPS says it has not authorised a proposed “Walk for Peace” in Port of Spain and warns unauthorised marches could breach SoE rules. Banking & Finance Recognition: CFA Society T&T honoured First Citizens CEO Jason Julien and UTC CIO Crystal Rodriguez-Greaves at its 25th anniversary gala, spotlighting professional standards in investments. Business & Labour Disruption: Maxi-taxi strike fallout continues to hit commuters and businesses, with government and unions trading blame over transport hubs and protest restrictions. Trade Policy Shock: The US proposes Section 301 tariffs of 10% to 12.5% on 60 economies, including Trinidad and Tobago, tied to forced-labour enforcement failures—raising the stakes for exporters and importers. Energy/Industry Regulation: The Aggregates Association is challenging the Ministry of Energy’s hold-over letters to quarry operators, arguing they lack legal basis under mining laws. Tourism Sanctions Impact: Meliá is suspending management of 15 hotels in Cuba as US sanctions tighten, while Cuba faces payment disruptions as Visa and Mastercard operations wind down.

Maxi-taxi disruption: Trinidad and Tobago Police Service says it’s preparing for a possible third day of reduced maxi-taxi services, while ride-share firms report a surge in demand and offer lower commissions/discount codes to help commuters. Transport policy fight: Former transport minister Jack Warner rejects calls to raise the maxi-taxi speed limit from 65 km/h to 80 km/h, arguing operators already exceed the current limit; meanwhile, operators say the strike is also about illegal competition and promised hub/terminal upgrades. Government responsibility dispute: Officials trade blame over which ministry handles maxi-taxi hub upgrades, with Transport and Works/Infrastructure pointing at each other. Protest restrictions under SOE: PM Kamla Persad-Bissessar defends 15 “no-protest zones” despite union threats of legal action, while trade unions and JTUM argue the limits undermine constitutional and labour rights. US-T&T business/diplomacy: AMCHAM T&T welcomes Trump’s nomination of Trinidad-born Jennifer Johnson-Carroll as US ambassador to Trinidad and Tobago, pending US Senate confirmation. Trade and tariffs watch: The US proposes extra duties tied to forced-labour enforcement, naming India among affected economies. Public safety: TTPS investigates a double homicide in Penal after police-issued ammunition was found at the scene.

U.S.-T&T Diplomacy: Trump has nominated Trinidad-born Jennifer Johnson-Carroll as the next U.S. ambassador to Trinidad and Tobago, a move welcomed by AMCHAM T&T as a boost for business and trade ties. Legal & Governance: Attorney-General meets senior legal officials during a visit tied to Caribbean Financial Action Task Force meetings, with discussions spanning justice and regional legal cooperation. Protest Rules & Labour: JTUM and a coalition of 11 unions are threatening legal action over new State of Emergency protest restrictions, arguing 15 no-protest zones and 500-metre limits overreach and could expand. Transport & Business Impact: Maxi-taxi operators’ strike continues to disrupt commutes and commerce, with business groups warning prolonged action could hit productivity, customer traffic and household finances. Public Safety Procurement: TTPS issued an EOI for body-worn cameras, signalling a push for more accountable policing. Utilities Disruption: WASA warns of temporary water supply disruption due to T&TEC works at the Caroni water treatment facility. Corporate Performance: Trinidad and Tobago NGL Limited returned to profitability in 2025, reporting after-tax profit of $224.3m. Trade & Compliance: Panama passed an “economic substance” law imposing a 15% levy on multinationals lacking genuine local activity—raising compliance costs across its offshore sector.

Maxi Taxi Disruption: Trinidad’s three-day “rest and reflection” strike is hitting commuters hard, with Downtown Owners and Merchants Association estimating 15–20% of people arriving late (delays of 30 minutes to an hour) and businesses bracing for knock-on economic effects. Disability Access: The Blind Welfare Association says the shutdown exposes how public transport is a life-line for persons with disabilities, not just a convenience, and calls out deeper structural gaps. Negotiations & School Exams: Parent groups are urging maxi taxi operators to exercise restraint as students sit CSEC and CAPE exams, while Route Two operators reject returning to work without written commitments. Tobago Solidarity: Tobago maxi drivers back the action, citing their own issues like late payments and lack of hubs. Aviation Deal: Trinidad and the Dominican Republic signed an air services agreement to boost tourism, investment and connectivity. Regional Connectivity: LIAT and Air Caraïbes launched an interline agreement for single-ticket travel across combined networks. Water & Finance (Regional): Republic Bank (T&T-linked) commissioned solar/electric boreholes in Ghana, expanding clean water access.

Infrastructure & Resilience: Works and Infrastructure Minister Jearlean John says T&T’s Revitalisation Blueprint is a “contract with the future,” stressing resilient design, nature-based solutions where suitable, and stronger long-term maintenance to support durable growth. Public Accountability in Tobago: The High Court ruled Eco-Industrial Development Company of Tobago (E-IDCOT) is not exempt from the Freedom of Information Act, ordering it to revisit disclosure requests tied to Manta Lodge procurement and a Choice Hotels franchise arrangement. Transport Disruption: Maxi-taxi operators begin a three-day “rest and reflection” shutdown today, with about 5,000 drivers expected to stay off the roads, raising fears for commuters, students and business productivity. Public Safety & Crime: Police reported six deaths in overnight violence across southern Trinidad, including a triple murder in Ste Madeleine and a double killing in Penal, as investigations continue. Food Security & Corporate Moves: National Flour Mills (NFM) appoints Terrence Kalloo as CEO, aiming to regain shareholder confidence and support national food security. Youth Health Warning: World No Tobacco Day messaging spotlights a fast-growing youth vaping problem, warning that flavours and “nicotine-free” claims can still mask risks and normalise use. Energy Update: Touchstone Exploration says two Trinidad development wells were placed on production mid-May and reports ongoing LNG maintenance affecting gas flows and pricing.

Maxi Taxi Disruption: About 5,000 maxi-taxi operators are set to begin a planned three-day “rest and reflection” action from today, with commuters warned of major travel knock-on effects and businesses fearing reduced productivity. Aviation Naming Push: The National Council for Indian Culture (NCIC) is calling to rename Piarco International Airport after Basdeo Panday, framing it as a youth-inspiring tribute to leadership and service. NFM Leadership Change: Terrence Kalloo has been appointed CEO of majority State-owned National Flour Mills, aiming to rebuild shareholder confidence and support national food security. Tourism Tech Push: YTEPP and TIATT discussed how the tourism sector can adopt AI and digital tools, alongside workforce training, to boost competitiveness. Food Security Win: CARDI reports a successful black-eyed peas pilot harvest in Warrenville, with strong germination and a fast turnaround that could support school feeding and reduce import dependence. Vaping Warning: World No Tobacco Day coverage highlights concerns that Caribbean youth vaping is outpacing policy, with flavours and easy access masking nicotine risks. Oil & Gas Update: Touchstone Exploration says two WD-8 development wells were placed on production and notes Atlantic LNG Train 4 maintenance, with gas volumes redirected to support pricing. Regional Banking Deal: Butterfield’s planned acquisition of majority control of CIBC Caribbean in a US$1.8b transaction remains a major finance story for the region.

Aviation & Trade: Caribbean Airlines’ pullout from St Kitts and Nevis has triggered a search for a replacement carrier, with Tourism Minister Marsha Henderson saying the government wasn’t consulted before the route decision. Banking & Investment: Butterfield Bank has agreed to acquire majority control of CIBC Caribbean in a landmark US$1.8b deal, a major regional consolidation signal for finance. Exports & Forex: Economist Dr Vaalmikki Arjoon backs the Government’s push to grow non-energy exports (US$2b by 2027), saying forex shortages make diversification “economically necessary.” Business Confidence: Chamber businesswoman Diane Hadad says export and diversification plans sound promising but still lack depth and clear answers for the private sector. Food Security: CARDI showcased a successful black-eyed peas pilot in Trinidad, reporting strong germination and a fast harvest cycle that could support school feeding and reduce import dependence. Public Policy & Governance: The Green Fund’s disbursement remains extremely low—less than 1% over a decade—while NGOs warn of funding shortfalls. Local Economy & Payments: A Mastercard Day Jamaica 2026 push urged MSMEs to formalise and digitise payments to avoid being left behind. Transport & Infrastructure: WASA warned of a temporary shutdown at the Caroni water treatment plant next week. Sports & Culture: Korea Republic beat Trinidad and Tobago 5-0 in a World Cup warm-up at BYU’s South Field, while Tobago gears up for its fifth annual Carnival celebration.

Banking Deal: Butterfield has agreed to acquire CIBC Caribbean in a US$1.8b transaction, with the deal expected to close in the first half of 2027 pending approvals—an important regional consolidation story for T&T’s finance watchers. Local Finance Dialogue: The Bankers Association of Trinidad and Tobago welcomed talks with the Government and the Central Bank, saying ongoing engagement is key to keeping the financial system resilient and supporting economic development. Public Order Under SoE: Opposition leader Pennelope Beckles and union voices are pushing back on TTPS “no-protest zones” and new protest restrictions around state institutions, arguing they threaten democratic freedoms. Transport Disruption: Maxi-taxi operators confirmed a nationwide shutdown from Monday, citing unresolved long-standing industry issues and calling for written commitments. Energy/Crime: A Proman Trinidad procurement manager was gunned down in the driver’s seat in Couva, prompting a homicide investigation. Tourism & Airlift: Tourism Minister Marsha Henderson says Caribbean Airlines cut St Kitts routes without consulting government or stakeholders, while talks are underway for alternative connectivity. National Culture: As Trinidad and Tobago marks Indian Arrival Day, President Christine Kangaloo and PM Kamla Persad-Bissessar highlighted the 181-year legacy of indentured ancestors and unity.

Banking Dialogue: The Bankers Association of Trinidad and Tobago welcomed fresh talks among the Government, the Central Bank and the banking sector, saying continued policy dialogue is key to keeping the financial system resilient and supporting economic development. State Enterprise Leadership: National Flour Mills named Terrence Kalloo as CEO, effective June 1, after Ian Mitchell stepped down at end-March. Water Disruption: WASA warned of a full shutdown at the Caroni Water Treatment Plant from Wed June 3, 10pm to Thu June 4, 5am due to T&TEC electrical works, with low pressure or no supply expected across multiple North, Central and South areas. Transport Shock: Maxi taxi operators confirmed a nationwide withdrawal of service starting Monday after talks with Government failed to deliver written commitments, with school transport also expected to be affected. Local Business & Jobs: San Fernando contractors are demanding a “fair share” of work at the Alamby Residential Development, alleging southern firms are being sidelined in favour of outside contractors. Tourism & Tech: YTEPP met TIATT to push digital transformation and AI adoption in tourism, alongside workforce training. Public Order Tensions: Trade unions and opposition figures are criticising new “no-protest zones” and protest restrictions under the State of Emergency, arguing they threaten democratic freedoms.

Caribbean Banking Deal: Butterfield Bank has agreed to acquire CIBC Caribbean Bank in a US$1.8-billion transaction, combining into a regional platform with about US$29 billion in assets and plans to pursue listings including the Trinidad and Tobago Stock Exchange after closing in 1H 2027. Local Finance Performance: Trinidad and Tobago Unit Trust Corporation (UTC) reported a near $35m net profit for 2025, up $16m year-on-year, with funds under management rising to $24.2b. Transport Disruption: Maxi taxi operators say they will begin a nationwide shutdown from Monday after talks with the Ministry of Works and Transport failed to deliver written commitments; school transport could also be affected. Water Supply Impact: WASA warned of a temporary shutdown at the Caroni Water Treatment Plant next week due to essential T&TEC transformer installation, with low or no supply expected in multiple areas. Food Security Pilot: A black-eyed peas pilot harvest in Warrenville showed strong germination and a 56–60 day cycle, supporting plans to boost local production and school nutrition. Governance & Protest Rules: New TTPS emergency “no-protest zones” restrict demonstrations within 500 metres of key state institutions, while Opposition Leader Penelope Beckles questions police independence and the timing of the order. Energy Sector Update: Paria Fuel chair Nyree Alfonso has resigned, with the energy ministry confirming she left through the regular process. Regional Politics: Guyana and Trinidad and Tobago reserved positions on CARICOM’s Cuba statement, distancing themselves from the bloc’s condemnation of US measures.

Banking Deal: Butterfield Bank has agreed to acquire CIBC Caribbean in a landmark US$1.8bn transaction, creating a roughly US$29bn banking and wealth-management platform across 10 Caribbean markets, with closing targeted for the first half of 2027. Corporate Finance: Sagicor Group Caribbean says it will head to the capital markets later this year to raise billions for a planned merger, positioning a new holding company to expand the group’s Caribbean footprint. Energy & Markets: Touchstone Energy reports two Trinidad wells placed on production and ongoing Atlantic LNG Train 4 maintenance, while also noting planned pipeline downtime and gas redirection to support pricing. Trade & Diversification: Trade Minister Satyakama Maharaj says Government is pushing non-energy transformation via stronger public-private coordination, investment facilitation and tourism expansion. Public Policy & Security: Police have enforced new State of Emergency protest limits, banning demonstrations within 500 metres of 15 sensitive public sites. Regional Diplomacy: Trinidad and Tobago abstained from CARICOM’s latest Cuba sanctions statement, while CARICOM’s COFCOR condemned the intensifying US measures. AML Focus: AG Anil Nandlall urged stronger judicial training and higher conviction rates for financial crimes at CFATF meetings in Port of Spain, as Guyana signed an operational sanctions information-sharing MOU. Tourism/Local Courts: A court lifted a jet ski ban in Tobago’s Buccoo Reef Marine Park but kept strict operating restrictions around key beaches and safety rules.

Oil & Gas: Touchstone Energy says two AIM-traded Trinidad wells (FR-1835, FR-1836) were completed and put on production in mid-May, averaging about 175 barrels per day combined, while Atlantic LNG Train 4 starts a 54-day maintenance shutdown (26 May–19 July) and the main pipeline is due offline 15–29 June, with Central block gas volumes redirected to Train 2/3 or the domestic market. AI in Public Services: Government has rolled out the “Future Ready TT” AI programme, partnering to use tools from ChatGPT and Grammarly across education and the public sector, with an emphasis on human oversight and ethical use. Money Laundering Focus: AG Anil Nandlall told CFATF meetings that the region’s low conviction rates and weak forfeiture of proceeds of crime must improve, calling for closer, ongoing engagement and training involving the judiciary. Disaster Resilience: TEMA warns disaster recovery can take years without proper planning and savings, noting recovery delays even decades after major events like Hurricane Ivan. Banking Deal: Butterfield agreed to acquire CIBC Caribbean Bank (91.7%) in a $1.8bn transaction, aiming to expand corporate, consumer and wealth management services across the region. Trade & FX: Couva/Point Lisas Chamber urges a state investigation into shipping agents charging local fees in US dollars amid FX shortages, arguing it burdens businesses and consumers. Regional Growth & Exports: Trade Minister Satyakam Maharaj targets non-energy export growth and foreign exchange generation, highlighting the role of PSOTT and private-sector coordination. Business Financing: IDB Invest finalised up to $30m for Trinidad Tissues to expand regionally, upgrade manufacturing and logistics, and grow exports to Jamaica, Guyana and Barbados. Agriculture & Food Security: Minister Ravi Ratiram highlighted women’s role across the agriculture value chain as a driver of food security. Markets/Business Sentiment: A local stock-market commentary suggests T&T equities may have reversed part of a four-year decline, with several top performers linked to Corporation Sole holdings. Local Economy Stories: Green Fund balance reached TT$12.86bn in 2025, while T&T’s private-sector research capacity and climate adaptation planning remain key themes in the week’s coverage.

Non-Energy Push: The Ministry of Trade, Investment and Tourism says it wants an extra US$2 billion in non-energy exports by 2027, with proposals aimed at easing exporter bottlenecks and boosting output by up to 25% annually. Investment Pipeline: Global TT reports a TT$14 billion investment pipeline, with 45 active projects and potential for 5,600+ jobs, as it moves projects from pipeline to committed status. Banking Deal: Butterfield has signed an agreement to acquire 91.7% of CIBC Caribbean Bank, aiming to expand corporate, personal and wealth management services across the region. FX & Shipping Costs: The Couva/Point Lisas Chamber is calling for a State probe into shipping agents charging local fees in US dollars amid FX shortages, arguing it breaches Central Bank guidance. Labour/Arrears: The PSA rejects the State’s 40% cash/60% non-cash backpay settlement for public sector arrears, insisting wages must be paid in cash. Water Supply: WASA urges conservation as dry weather cuts output at the North Oropouche plant, affecting multiple communities. Tobago Jet Ski Rules: A judge tells jet ski operators to consider launching from locations beyond Pigeon Point Heritage Park after a fatal April accident. Regional Politics: Trinidad and Tobago abstained and later reserved positions on CARICOM’s Cuba statement, as ministers cite intensifying US measures and growing divisions within the bloc.