Government is determined to pursue legal action and will prosecute high-level employees if wrongdoing is revealed in the forensic investigation of the regional financial conglomerate CL Financial, says Finance Minister Karen Tesheira.

The CL Financial Group’s inability to match its short-term cash needs with its long-term debt was a major factor in the collapse of the regional financial institution, said Ram Ramesh, former chief executive officer at CMMB and now principal at KPMG.

With regional trade falling by 42 per cent, T&T must position itself to take advantage of new trade opportunities when the world—particularly the European Union economy, returns to growth and full employment, says Trade Minister, Mariano Browne.

Petrotrin will become uncompetitive and will go out of business in a few years if it does not undertake its massive upgrade programme now, said company executives.

The Lok Jack Graduate School of Business plans to play a larger role in national development and productivity with the launch of an initiative strategy to support business development, support greenfield project financing and innovation in the private sector.

The energy sector is stirring back to life and suppliers must begin their investment now to take advantage of new opportunities when the sector picks up speed in 2010, says Alutrint’s Chief Executive Officer, Philip Julien.

Trinidad and Tobago’s newest petrochemical plant—a facility producing the liquid fertiliser referred to as UAN, successfully made its first product on January 19 and will send its first shipment to market in a few days.

Central Bank Governor Ewart Williams has promised to act if wrongdoing is revealed when the auditors complete their review of the operations of the cash-strapped CL Financial Group, leading up to its bailout by government last February.

Prime Minister Patrick Manning lashed out at the media yesterday for speculating about the ongoing negotiations relating to the merger of Caribbean Airlines and Air Jamaica.

Shored up by a US$23 million injection from RBC, Roytrin’s TT and US dollar funds have been holding its own just above its promised net asset value (NAV) of $25 and US$25, respectively, since unit prices were floated last Monday.