Fiji Business Briefs
Minimum wages increase today Fiji’s national minimum wage rate increases from $4.50(US$2.25) to $5.00 (US$2.50) an hour from today. Minimum wages in ten different categories of work (under the National Minimum
BSP
PNG superannuation funds attribute profits to offshore activity, BSP
Papua New Guinea’s largest superannuation funds – Nambawan Super Limited (NSL) and the National Superannuation Fund – have attributed profits to offshore investments and the Bank of South Pacific Financial
BSP budgeting K345m in capital expenditure
BSP Financial Group Limited is budgeting K345 million (US$90 million) in capital expenditure over two years starting this year, says Group Chief Executive Officer, Mark Robinson. Speaking during the bank’s 2024 annual
BSP facing more system issues than expected
Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system
BSP cuts ties with PNG fuel supplier Puma
BSP Financial Group Limited (BSP) has cut ties with Puma Energy, according to Papua New Guinea Petroleum and Energy Minister Kerenga Kua. According to Minister Kua, the action by BSP is independent of the Government and
Economic, geopolitical risks present worldwide: BSP
The world is continuing to present economic and geopolitical risks that impact almost every country, a bank executive says. Bank South Pacific Financial Group Limited (BSP) Chief Executive Officer Mark Robinson said
BSP says it is fine-turning operations in PNG
The Bank of South Pacific Financial Group Ltd (BSP) is continuing to fine-tune its operations under the new banking system, with its KunduPei service back online, chief executive officer Mark Robinson says. “BSP
BSP customers in PNG told to repay money after ‘glitch’
A “technical issue” has allowed some customers with Papua New Guinea’s largest bank to overdraw money from their accounts, while others have watched their bank balances drop. In a statement posted to Facebook,
BSP ‘has standing’ in tax case in PNG
The Papua New Guinea Supreme Court has ruled that the Bank South Pacific Financial Group Limited (BSP) has standing to pursue a case challenging the constitutionality of the “additional company tax”. A five-man
Impressive results excite new BSP boss
New BSP Financial Group chief executive officer, Mark Robinson is impressed with steady results produced by BSP Group, not just for one year but for a longer period of time. He said the result does not only reflect a
Mark Robinson joins as new CEO of Bank South Pacific
Bank South Pacific Financial Group Limited has announced the appointment of Mark T. Robinson as Group Chief Executive Officer. Robinson is a senior financial services executive and globally experienced banking Chief
PNG economic outlook gives businesses hope: BSP
The Standards and Poor (S&P) Global ratings has revised its outlook on Papua New Guinea from negative to stable reaffirming the trajectory of the country’s economic recovery post-Coronavirus (Covid-19). And Bank
BSP pays K190million extra tax
The Bank South Pacific Financial Group Limited (BSP) has declared a substantially lower net profit of K69 million (US$19 million) from K259 million (US$73 million) due to a controversial levy imposed by the Government.
PNG Company tax approved
The contentious PNG company tax or ‘super tax’ on the country’s big players in the banking and telecommunication sectors finally got the green light from Parliament Wednesday, now making it a law. While the tax
BSP and FASU clash over alleged money laundering warning
The Bank South Pacific Financial Group Ltd (BSP) has always complied with its anti-money laundering and counter-terrorist financing (CTF) obligations in Papua New Guinea, says chairman Sir Kostas Constantinou. He made
PNG’s largest bank to list on the Australian Stock Exchange
Shareholders have approved Papua New Guinea’s largest bank, Bank South Pacific, listing on the Australian Securities Exchange in a bid to access more capital and improve its presence in international capital markets,
Fiji business briefs: BSP, Pleass, Fiji Hotel and Tourism Association
Bank of South Pacific (BSP) plans to list on the Australian Securities Exchange (ASX). BSP has given notice of its intention to change its constitution to allow for dual listing in Australia as well as its current
BSP on par with global peers, indicates ASX listing interest, eyes Australasia
Papua New Guinea’s regional bank BSP will revisit an earlier plan to list on the Australian Stock Exchange (ASX). In a message to shareholders last week informing them on the progress of the company, BSP Group
BSP Life pays F$21m in bonuses
BSP Life investment portfolio is now valued at $660m (USD315.29m), positioning the life and health insurance provider as one of the largest leading institutional investors in the Pacific. And the insurance company
