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
Liquidators say a ‘clearly’ broke Air Vanuatu owes at least $99m
Air Vanuatu administrators say the airline was “clearly not in a position to meet its financial commitments” well before it collapsed earlier this month, and is more than $99 million (US$66 million) short of being
Air Vanuatu: Ernst & Young appointed voluntary liquidators, Fiji Airways boosts capacity to Vanuatu
Ernst & Young Australia have been appointed as Voluntary Liquidators of Air Vanuatu (Operations) Limited. This follows the airline’s cancellation of around 20 flights to and from New Zealand, Australia and
Air Vanuatu grounds flights after reportedly going into administration, Board dissolved
Air Vanuatu has cancelled or adjusted some 20 flights to and from New Zealand, Australia and Nouméa after reportedly being placed into administration. Cancelled flights include services from Port Vila to Auckland on
Saipan casino buried in $165m debt but hoping to regroup and resume business
Succumbing to the pressures from its creditors, Imperial Pacific International has filed for Chapter 11 bankruptcy in the U.S District Court for the CNMI, reporting debts totaling of US$165.8 million. Before the
Scammers use fake Cook Islands resort to lure overseas job seekers
International scammers have created a fake Cook Islands resort to lure people looking for jobs in the tourism industry. They deceive victims into paying an upfront fee of at least $280 (US$165.90). Cook Islands News
Government insists on value of crypto bill despite criticism
The Office of the Prime Minister (OPM) in Cook Islands has hit back at the critics of the draft Tainted Cryptocurrency Recovery Bill 2023, saying the media did not highlight positive aspects of the Bill. The Bill,
State company exports first LNG shipment
An historical moment, state-owned Petroleum company exports its first LNG shipment, bound for China. KPHL Managing Director Wapu Sonk said this is the access volume from its shareholding in the PNG LNG Project.
Air Niugini to suspend weekly Palau flights
Air Niugini has advised customers that the airline’s weekly services from Brisbane to Palau via Port Moresby will be suspended, effective 01 May 2024. This service commenced in February 2023 supported by the
BPNG survey confirms decline in business confidence
A survey conducted by the Bank of Papua New Guinea (BPNG) indicates a decline in business confidence in the country. Bank of PNG Governor Elizabeth Genia revealed this recently when presenting the March 2024 BPNG
Fiji Business Briefs: RBF on Fiji’s outlook, Aviation school to expand
RBF says inflation, job vacancies up The Reserve Bank of Fiji says indications are Fiji’s economy will grow in 2024. In a recent statement, RBF Governor, Ariff Ali said while consumption spending was positive—due to