ANZ business survey: Turnover up, profitability down
ANZ’s Fiji Business Survey for Q3 2023 has reported a positive upturn in turnover, with 42% of surveyed firms noting higher demand compared to the previous quarter. However, profitability faced a decline, with just 16% of companies surveyed reporting increased profitability in the September quarter, down from 32% in June.
ANZ notes that the survey highlights the ongoing impact of long-term migration and offshore employment opportunities on staffing, as constraints to growth.
Future sales and profitability expectations remain positive, the survey indicates, but future investment intentions show a softening trend. It notes the Fiji Government’s recent announcement of a 14-day business visa for citizens from an expanded list of 105 countries aims to alleviate the labour shortage, with further government initiatives expected.
Drua sponsorship deal with Punjas
The Punjas Group has signed a sponsorship deal with the Swire Shipping Fijian Drua which will see players sport the company’s Punjas Group and Ocean Soaps brands on their matchday shorts.
The three-year agreement emphasises their commitment to Fiji and the Drua, highlighting rugby’s importance to the nation, says Punjas Managing Director, Rajesh Punja.
Investment Fiji supports ag company
Shahil’s Party Ice and Frozen Supplies has tapped into Investment Fiji support to firm up a strategic partnership with Extra Supermarket.
The partnership will see the company get its diverse products, including frozen cassava fries, into the national supermarket chain.
“The market knowledge, connections, and deal facilitation provided by the Investment Fiji team have played an instrumental role in our business expansion. This partnership will not only strengthen our position in the local market but also open doors to new opportunities,” said company director Avishay Singh.
Tappoo enhances IT education in Nadroga school
The Tappoo Foundation has donated $12,500 worth of computer equipment to Kavanagasau Sanatan Dharam School in Nadroga.
The donation, part of the foundation’s initiatives to celebrate its founder, the late Tappoo Kanji, includes high-end laptops, Smart LED TVs, monitors, and speakers, with hopes that the contribution will significantly improve IT education for the school’s 77 students.
Kanti Tappoo, head of the Tappoo Foundation, expressed the family’s tradition of supporting education and commended the school’s dedication. The foundation also contributed $7,500 to support tertiary students in Laselase Village.
Raine & Horne Fiji
Raine & Horne Fij is re-entering the Fiji real estate market after a three-year hiatus caused by the COVID-19 pandemic.
The reopening, spearheaded by experienced real estate professional Shyamlee Raju, aligns with a rising trend of New Zealand buyers seeking holiday investments in Fiji.
Fiji Airways partners with JetBlue
Fiji Airways has announced JetBlue as its newest interline partner, expanding its footprint in North America.
The partnership enables seamless connections for travellers between Fiji Airways and JetBlue flights, offering one-ticket solutions for a more convenient travel experience. Fiji Airways Managing Director and CEO, Andre Viljoen is enthusiastic about the potential of both airlines and highlighted the ease with which Americans can now connect to Fiji via Los Angeles and San Francisco.