Keeping the bank door open for Pacific peoples
Now is the time for New Zealand banks to act with courage to keep providing banking services, including money remittances, to the Pacific Islands open. The scale and complexity of the challenges facing Pacific Island
PNG economy may recover when second LNG project begins, but debt will rise
Ratings agency, S&P Global Ratings expects the Papua New Guinea to recover when the second LNG project commences next year, but has maintained a Negative outlook for the economy. In its latest review of the South
Uncertain times for Fiji-listed companies
Fiji’s second COVID-19 wave continues to batter the economy, and a series of market updates released by companies listed on the South Pacific Stock Exchange make for sobering reading. None of the listed companies are
Green shipping boost: China Navigation supports Marshall Islands’ carbon tax proposal
(SPLASH)China Navigation is to sign for a revolutionary sail-assisted newbuild this month as part of a package of green measures announced today. The Swire subsidiary has also come out in favour of the proposal put
Fiji’s Reserve Bank cuts select interest rates
The Reserve Bank of Fiji has reduced interest rates in a bid to reduce borrowing costs for businesses and households. Commercial banks and licensed credit institutions operating in Fiji can now access funding from the
Fiji GDP down 9.7%: Reserve Bank
The Reserve Bank of Fiji reports that for the first nine months of the current fiscal year, Fiji’s government recorded a net deficit of F$905.0 million (-9.7% of GDP). Government expenditure ($2,256 million) almost
Delving into digital: Kina finds its sweet spot
The entry of Papua New Guinea’s Kina bank into the fairly competitive Fiji market later this year will bring a range of digital products that should stimulate further innovation in the sector and more choice for
Delving into digital: Kina finds its sweet spot
Kina Bank is set to bring new digital products to Fiji when it acquires Westpac's Fiji
PNG growth may be unstable due to second wave: BSP
Bank South Pacific says while PNG’s 2021 economic growth is projected to recover to 3.5%, growth “may be unstable owing to external and domestic factors and strong headwinds from the COVID-19
World Tuna Day: What does it mean for the Pacific?
Recent years have seen a power shift, with Pacific Islands Nations gaining greater control and revenue returns from their Tuna fisheries. This has been the result of cooperation and hard work. This article will show
Jobs, consumption, investment continue to be subdued:RBF
The Reserve Bank of Fiji says recent locally transmitted cases and containment measures will prolong already subdued economic activity in the country. The RBF’s April statement reports that visitor arrivals were
ADB predicts modest growth for Pacific economies this year
The Asian Development Bank expects Pacific Island economies to return to positive growth this year, although at different rates, and with a great deal riding on successful vaccine roll-outs. Pacific economies contracted
MEET THE MENTOR NEELAM MAHARAJ: BUSINESSWOMAN AND MENTOR
Businesswoman Neelam Maharaj is a mentor with South Pacific Business Developments’ Fiji Bloom program. With her sister Neelma, she has built up three businesses from scratch learning many valuable business lessons
Vale mine in New Caledonia
After months of political dispute, the Brazilian corporation Vale has finally sold its Goro nickel smelter and other assets in New Caledonia’s Southern Province. The new owners Prony Resources and Trafigura have
Saving for a rainy day
It is well understood that the Pacific Islands is one of the least insured regions in the world, with some estimates putting the penetration rate at just 3.6%. These figures are particularly sobering given our
Fiji Business Briefs: Fiji Kava, Thunderstruck, FijCare and more
Thunderstruck mining company is discussing a joint venture arrangement with a shortlist of companies for its Rama copper and gold prospect. A company statement also says significant work is underway to prepare for a
SPBD Releases TC Yasa Loans
South Pacific Business Development Fiji has launched its TC Yasa Rehabilitation Loan Programme, with 361 loans totalling $1.22 million processed in the first release. The loans were handed over in Labasa and Savusavu in
Can mining dig Fiji out of COVID hole?
By Dionisia Tabureguci Fiji's minerals sector is tipped to lead its post-COVID economic recovery, with gold production expected to strengthen later this year and interest in gold prospecting on the rise. "The
Tuvalu’s digital ambitions
Tuvalu has become the first country in the world to choose Bitcoin Satoshi Vision (BSV) blockchain to help it migrate to a fully digital economy, a move that may see it also adopt Bitcoin SV, the cryptocurrency
Mountains of hydro trouble
Mountain communities in Fiji are thwarting plans by the country’s power monopoly to build a multi-million hydro power plant. The people of Nubu and Cawanisa say Energy Fiji Limited (EFL) only has itself to blame
Pacific farmers have their say
Were you one of the many Pacific Islanders who spent the first few weeks of the coronavirus pandemic with soil under your nails? The introduction of lockdowns plus border closures precipitated an explosion of backyard
Minoru Nishi on business during COVID
For farmers and producers like Tonga’s Minoru Nishi, Managing Director of Nishi Trading Company, COVID-19 has been a double-edged hoe. “Our exports actually increased in terms of demand from the market, and I
Local produce, local menus
When 116 farmers in Fiji’s western division received ‘Cash for Cultivation’ from the government, Agriculture Minister Dr Mahendra Reddy told them: “We want the demand for vegetables, fresh produce,
