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India require 58 more runs for victory against West Indies after reaching 63 for one at the close of play on the fourth day of the second Test here at the Arun Jaitley Stadium on Monday.

Scores

INDIA 518-5 dec’d and 63-1 in 18 overs (Sai Sudharsan 30 not out, KL Rahul 25 not out).

WEST INDIES 248 and 390 in 118.5 overs (John Campbell 115, Shai Hope 103, Justin Greaves 50 not out, Roston Chase 40, Jayden Seales 32, Tevin Imlach 12, Tagenarine Chanderpaul 10; Jasprit Bumrah 3-44, Kuldeep Yadav 3-92, Mohammed Siraj 2-43).

The state-owned Caribbean Airlines (CAL) Monday confirmed the immediate resignation of its chief executive officer Garvin Medera.

In a statement, the airline said that to ensure continuity and stability, chief operating officer, Nirmala Ramai, has been appointed acting chief executive officer ‘until further notice’ and that under the ‘guidance’ of the board of directors ‘will work closely with the senior leadership team to support the airline through this transition’.

The statement gave no reasons for the ‘immediate resignation’ but thanked Medera ‘for his years of service and leadership and wishes him the very best in his future endeavours’.

The statement quotes Medera as saying that he wanted to ‘take this opportunity to thank all the employees of Caribbean Airlines who have done such a fantastic job over the past few years, facing some very difficult challenges and being their best, time and again, for each other and our passengers.

‘Also, thanks to partners for their support and commitment and customers for their trust and loyalty. I wish everyone well,’ he added.

CAL said that it would ‘continue to operate its full schedule, with no disruption to customers or partners’ and that the board of directors ’emphasises that this leadership transition comes at an important time for the airline and is part of its ongoing focus on stability, safety and accountability’

Son after coming to office following the April 28 general election, Prime Minister Kamla Persad Bissessar issued an ultimatum to the airline’s management, telling them to ‘sort out the mess’ within two years or face replacement.

‘I am giving the management of CAL two years to sort it out; otherwise, everyone there will be looking for a new job,’ Persad-Bissessar said in August, stressing that taxpayers would no longer bankroll under-performing State enterprises.

The statement by CAL on Monday said that as part of the new transition, the board and senior leadership team will be focusing on five key initiatives, namely supporting employees and stakeholders with open communication and care, reviewing operations to increase efficiency and modernisation, enhancing the customer experience with improved services, developing a long-term, financially responsible and sustainable growth plan and conducting full and thorough audits of all departments and processes, to strengthen governance, safety, and accountability.

‘The airline also reaffirmed its commitment to developing and promoting talent from within the organization, before seeking external candidates, to provide employees with clear opportunities for growth and career advancement.

‘Caribbean Airlines will continue to serve the region with pride, reliability and a steadfast commitment to safety. The Board of Directors remains committed to open and timely communication with employees, customers and stakeholders as this leadership transition and strategic plan are implemented,’ the statement added.

The Trinidad and Tobago government Monday said that it will submit a revised offer of 10 per cent in salaries and wages to public servants saying the measure is in keeping with a promise made during the campaign for the April 28 general election.

Finance Minister Davendranath Tancoo delivering the first national budget of the United National Congress (UNC) -led coalition government, said that for far too long, public officers, the backbone of the country’s workforce, have been made to carry the weight of the former Government’s neglect and indifference.

‘This government is taking this bold and historic step to restore justice, dignity and respect to the hard-working men and women of the public service. After nine long years of stagnation, we are committed to finally bringing all parties back to the bargaining table to address this long-overdue injustice.’

Ancoo said that on the completion of the bargaining process with the Public Service Association (PSA), the government will work with Republic, First Citizens Bank and the National Insurance Board to find a comprehensive solution to discharge this national obligation.

‘This government is focused on delivery and not delay, workers’ rights and not neglect, appreciation and not excuses.

‘In furtherance of the conclusion of negotiations for the Civil Service, Statutory Authorities and Tobago House of Assembly for the periods 2014-2016 and 2017-2019, the Honourable Prime Minister has instructed me to advise the Chief Personnel Officer to submit a revised offer of 10 per cent.’

Tancoo said that he is also advising the members of the Teaching Service, the Trinidad and Tobago Defence Force, and the Port of Spain and San Fernando City Corporations that the government will ratify the collective agreements signed in April 2025 between the Chief Personnel Officer and their respective Associations/Union/Committee.

Tancoo said that the recurrent cost of implementing these agreements is estimated at TT$214 million (One TT dollar=US$0.16 cents) annually, with arrears of TT$730 million as of December 2025.

Tancoo also dislosed additional policy decisions that the government will undertake to improve the lives of all public servants, teachers and Central Government daily-rated workers.

He said upon assuming office, he was shocked to learn that theretirees in these groups are removed from the UNIMED Group Health Plan precisely when medical issues are more likely to arise.

‘Accordingly, I have instructed that an appropriate Request for Proposal be prepared and issued to seek proposals from the market for an option that allows our retirees and their families to retain membership in the public sector health plan.’

He said also a job evaluation exercise for the civil service are estimated to be completed within the next six to eight month and that this major exercise marks a significant milestone in the modernisation of the public service.

‘However, apart from the revised job descriptions with updated duties and responsibilities, it will provide another significant opportunity for nationals of this country. Upon completion of this exercise, approximately 40 per cent of all fixed-term standardised contract positions will be made permanent and pensionable.

‘In comparison, another 20 to 23 per cent of non-standard fixed-term contracts will also be ‘classified into the new grade structure,’ Tancoo said, adding that ‘this exercise will result in the reduction of fixed-term contract employment by as much as 63 per cent and bring these contract officers within the ambit of the public service’.

The Trinidad and Tobago government Monday presented a budget of TT$59.2 billion (One TT dollar=US$0.16 cents) to Parliament acknowledging a fiscal deficit of TT$3.8 billion and announcing a series of tax measures to finance the fiscal package.

The debate on the budget will begin on Friday.

Finance Minister Davendranath Tancoo, delivering his first ever budget to Parliament, said that the fiscal package is ‘more than just an accounting of revenues and expenditures, plans and policies,’ adding it represents a shift towards fairness’.

In his three hours and 15 minute presentation, Tancoo said that for too long, the government’s fiscal policy has been seen as a technical exercise and today ‘we redefine it as a human one’.

According to Tancoo, the Kamla Persad Bissessar administration on assuming offence in April found an economy in trouble and that the preliminary outturn for fiscal 2025 is for a deficit of TT$8.7 billion with revenue of TT$50.6 billion and expenditure of TT$59.3 billion.

Bahamas Prime Minister Philip Davis says the country has achieved a 0.5 per cent fiscal deficit for the budget year ending June 30, 2025, saying that this result is within the government’s target range of 0.3 to 0.7 per cent and represents a major improvement from the 13.7 per cent deficit recorded in 2021.

‘Four years ago, our country was facing one of the worst fiscal crises in its history. Today, we are back on stable ground. We made tough choices to protect our economy, and those choices are now paying off,’ Davis said.

Prime Minister Phillip Davis

Davis said that last year, the International Monetary Fund (IMF) reported that the Bahamas budget deficit of 1.3 per cent was remarkable, adding ‘and no doubt that 0.5 per cent is even more remarkable.

‘The reduction in the deficit is in keeping with our overall fiscal plan to reduce new borrowing and thus decrease the amount of national resources paying interest on debt.

‘Our debt management strategy going forward includes identifying opportunities to decrease our debt-servicing obligations by prudent fiscal management and using creative instruments to pay off high-cost debt and manage the maturity profile of our outstanding debt’.

Davis said that this achievement is about more than balancing the books, adding it is about delivering results that make life better for Bahamian families.

‘Every dollar we save on debt is a dollar that can go toward schools, hospitals, family islands, and helping Bahamian families meet the cost of living. It means more resources for the things that matter – better roads, stronger communities, safer neighbourhoods, and more jobs.’

Davis said that the government remains focused on responsible management of the country’s sayin ‘we are managing the country’s finances responsibly so that Bahamians can feel the difference, in lower costs, better services, and a stronger, more resilient economy.

‘Responsible governance is about managing all our resources wisely. The same discipline that drives our fiscal policy also drives our commitment to protecting our environment and preparing for the future.’

He said that this success is a reflection of national progress and shared effort.

‘This is what responsible leadership looks like – steady progress that improves lives and strengthens our country. We are building a better future, one decision at a time, and we are doing it together.’

West Indies trail India by 18 runs in their second innings after reaching 252 for three at lunch on the fourth day of the second Test here at the Arun Jaitley Stadium on Monday.

Scores

INDIA 518-5 dec’d.

WEST INDIES 248 and 252-3 in 78 overs (John Campbell 115, Shai Hope 92 not out, Roston Chase 23 not out, Tagenarine Chanderpaul 10).

The Energy Chamber of Trinidad and Tobago says as a mature energy producer, Trinidad and Tobago cannot afford to believe that investors have no other options, as it reported that over the last 20 years, the revenue received from the energy sector has seen significant annual fluctuations.

The Energy Chamber said that even within major oil and gas companies, Trinidad and Tobago must justify their capital projects, so the fiscal environment needs to be attractive and encouraging.

‘In today’s energy industry, there are newer and more exciting jurisdictions for energy development. This means that Trinidad and Tobago has to do more to encourage the flow of capital to the country, since the risk and returns may be better elsewhere.’

Table courtesy Energy Chamber of Trinidad and Tobago)

The Energy Chamber said that as the country prepares to hear the national budget later on Monday, ‘there are a few things that urgently need to be addressed: the supplemental petroleum tax, accelerating capital allowances, and reducing the amount of VAT (value added tax) refunds owed to the energy sector’.

It said that these are critical pain points that companies continually raise in reviews of the fiscal environment, and they have not been fully addressed to date.

The Energy Chamber said that while there has been fluctuation in the revenue from the energy sector over the past two decades, the general pattern has been that revenue received over the last 10 years was TT$147 billion dollars (One TT dollar=US$0.16 cents) has been considerably less than the revenue received during the previous decade of TT236 billion dollars.

The chamber said that there are two critical factors that affect the revenue earned from the sector.

It said the first is the price of the commodities and that it must always be remembered that the price of the energy products produced in the country is not set domestically and is set by external factors, largely driven by demand and supply.

‘Trinidad and Tobago by itself cannot influence the price of oil, natural gas, or LNG,’ the Energy Chamber said, noting that in previous statements it had shared how the prices for natural gas and LNG are derived and that these are largely driven by foreign traded markets.

‘This is important to note, since these external factors play a major role in the price received for the different commodities, which therefore impacts the revenue earned by the central government. When prices are high, logically the revenue earned will be higher than when prices are low.’

The Energy Chamber said that in 2022, when Russia invaded Ukraine, prices of LNG and natural gas increased significantly because Europe tried to stop buying Russian pipeline gas and bought gas from elsewhere, including LNG from Trinidad.

‘This greatly shifted energy dynamics in the region, resulting in rising prices, which benefited countries like rinidad and Tobago, which supplied some of that demand.

‘Conversely, during a low-price period, such as in 2020, the world reduced demand for fuels because there were restrictions on the movement of people due to COVID-19. This resulted in low demand and, therefore, low prices. Trinidad and Tobago was not immune to these effects and consequently saw a substantial drop in revenue that year.’

The Energy Chamber said that while price is a major component, it works hand in hand with the volume of the products being produced.

It said the second ‘critical’ issue affecting revenue is the domestic production, noting that over time, the production of oil and gas from Trinidad and Tobago has fallen dramatically.

‘In the early 2000s, energy revenues would have risen sharply due to the increasing production of natural gas. However, the production of natural gas in 2025 is now almost half of what was produced in 2014. This is a major hurdle in terms of revenue.

‘This means that even when prices are high, the production is much less, so the potential boost in revenue is not fully realized. It also means that when prices are low, the effects are felt more severely since less would be earned on lower production.’

The Energy Chamber said that the fall in upstream production also means there is less production in the downstream sector for LNG, methanol, and ammonia, adding that ‘these three commodities play a large role in the country’s ability to earn foreign exchange through their export.

‘It is important to note that while prices are not within the control of the government, there are ways for the government to impact production. This means creating the environment to encourage investment in the energy sector,’ it added.