Commercial banks in PNG oppose new increase in tax
Two major commercial banks in Papua New Guinea have opposed the 45 percent tax on the banking sector to come into effect next year. BSP Financial Group Limited chief executive officer, Robin Fleming said as BSP
PNG Govt pass US$6.8 billion budget
Another year, another record deficit budget for Papua New Guinea. On Tuesday, Treasurer Ian Ling-Stuckey presented his long awaited 2023 money plan to Parliament – with a price tag of K24 billion (US$6.8 billion).
Opinion: Labor reduces but does not eliminate Coalition aid cuts
This year’s aid budget (2022-23) has been increased from $4.55 billion under the Coalition to $4.65 billion under Labor. There are bigger increases in the forward estimate years (2023-24, 2024-25 and 2025-26),
Australia boosts defence, Pacific diplomacy spending in budget
Australia on Tuesday pledged increased defence spending and efforts to firm up diplomatic ties with neighbouring Southeast Asian and Pacific nations as it seeks to counter China’s growing economic and strategic
Palau’s 2023 Budget law passed
Palau budget FY 2023 was signed into law on September 22 at the Ngerulmud Capital rotunda after a brief signing ceremony. Senate and House of Delegates worked round the clock to get it ironed out in time for President
New financial solution to strengthen accountability and service delivery in Kiribati
A new Integrated Financial Management Information System (IFMIS) for Kiribati is expected to usher in a new era of efficiency in public service delivery and accountability for the island nation. Specifically
Skilled workers shortage worry
A growing shortage of skilled workers in Fiji is causing concern among members of the Fiji Commerce and Employers Federation (FCEF), and they want Government to increase the number of countries covered under its
Regional airlines “in the dark” on Fiji’s new airport management deal
The Fiji Government’s controversial decision to award the management contract for Airports Fiji Ltd (AFL) to its national airline, Fiji Airways, has intensified fears that a “conflict of interest”
Fiji is fully booked until October
Fiji’s 13,000 hotel room- inventory is fully booked until October, signalling a strong post-COVID comeback for the tourism sector. Speaking at a Reserve Bank of Fiji-organised post-budget discussion, Fiji Hotel
Tonga Parliament passes largest annual budget
Tonga’s Parliament passed the 2022-2023 annual budget this week, reports Tonga Wires. Totalling $764.7 million pa’anga (US$328.36 million), it is the Kingdom’s largest ever annual budget. According to the Tonga
Additional COVID funding postpones aid cuts
Faced with the prospect of another cut to aid while the COVID-19 pandemic continues – and in some ways intensifies in our region – the government has again reached for the “temporary and targeted” lever to avoid
