BPNG to continue Kina intervention
The Bank of PNG says to ensure a gradual and stable adjustment of the nominal exchange rate over time, it will continue to intervene to support the crawl-rate and reduce outstanding orders in the foreign exchange
Business
Fiji Airways signs lease agreement for three ATR 72-600s
Nordic Aviation Capital (NAC) has announced the successful execution of a lease agreement for three ATR 72-600 aircraft with Fiji Airways. The aircraft are from NAC’s orderbook with ATR. Fiji Airways, the national
Fiji Cabinet removes duties on EU goods under iEPA
Fiji’s cabinet has approved the implementation of the Interim Economic Partnership Agreement (iEPA) with the European Union (EU) and decided to remove duties on certain goods from EU countries. This move is part of
More gold to be mined, says PM Marape
Papua New Guinea has an estimated 100 million ounces of gold that is yet to be mined, says Prime Minister James Marape. Marape said this when closing the three-day Geoscience, Exploration and Extraction Conference 2024
Mercury spill on Air Niugini aircraft investigated
The PNG Accident Investigation Commission (AIC) is probing a mercury spill from a package aboard an Air Niugini aircraft at the Jackson International Airport in Port Moresby last month. AIC Chief Commissioner Maryanne
Pacific resilience fund needs US$380m in two years’ to reach half-billion goal
Tonga has the backing of Pacific economic ministers to host the regional community resilience financing facility. The Pacific Resilience Facility (PRF) was endorsed by the Pacific Islands Forum (PIF) leaders to
Fiji Airways launches new flights to Dallas
Fiji Airways is spreading its wings to Texas with the launch of flights to Dallas Fort Worth from December 2024. Dallas Fort Worth (also known as DFW) is the headquarters and mega-hub of American Airlines, whose
Women flourish when they have networks of support: US Ambassador to Fiji
Women flourish when they have networks of support, says Marie C. Damour, the United States Ambassador to Fiji, Kiribati, Nauru, Tonga, and Tuvalu. The U.S Embassy, along with its implementing partners, the Women
BSP: Businesses affected by Black Wednesday
The Black Wednesday Riots in Port Moresby earlier this year have significantly affected business and investor confidence. This is according to the BSP’s Pacific Quarterly Economic & Market Pulse for the June
Air Niugini’s Boeing 737 resume flights to Melanesian countries
Air Niugini’s Boeing 737 aircraft will resume flights to Port Vila in Vanuatu from 03 August. Air Niugini’s Acting Chief Executive Officer, Gary Seddon said that this would provide an opportunity to reconnect
Chatham Airlines begins flying in Tonga amid Lulutai’s ongoing flight disruptions
Chatham Airlines begins servicing Tonga’s domestic flight services this week. The announcement comes a month after Kaniva News reported that Lulutai contacted the New Zealand airlines to assist with its
Indonesia starts exporting electricity to Papua New Guinea
Indonesian President Joko Widodo and Papua New Guinea Prime Minister James Marape met at the Bogor Palace on Monday to discuss cooperation in various fields, including electricity exports to the border region.
Fiji positioned for growth in Asia Pacific real estate market
Fiji is on the brink of significant growth in the Asia Pacific real estate market, according to Nick Thompson, Hotels and Hospitality Director at JLL New Zealand. Speaking at a recent tourism investment conference,
Air Vanuatu liquidation nears final stages with August deadline
Air Vanuatu (Operations) Limited (Ltd) entered liquidation on 9 May 2024 and Ernst and Young (EY) were appointed as Liquidators. 09 June marked one month since the liquidation, and Tuesday, 9 July, marked two months.
Budget should target Fijian diaspora, says investment body CEO
As Fiji launches a strategic initiative this week designed to showcase its outsourcing sector to potential investors offshore, the head of Fiji’s investment agency has called for the Fijian government to focus on
Fiji Airways interested in reviving Port Vila, Tanna and Santo flights
Vanuatu deputy Prime Minister and Minister of Foreign Affairs, Matai Seremaiah, has announced that Fiji Airways is interested in connecting Port Vila to Tanna and Port Vila to Santo flights via an ATR, ensuring
Air Vanuatu to lose 170 staff as liquidators try to save embattled airline
Nearly 200 people have lost their jobs as liquidators restructure Air Vanuatu to reduce the embattled airline’s operating costs. Approximately 170 staff members have been made redundant as liquidators try to
In the shadow of global challenges
Cybersecurity threats and governing generative AI are amongst the most pressing challenges facing telecommunications companies globally. While the rapid development of Artificial Intelligence (AI) characterises the
Tourism Fiji calls for increase in government budget allocation
Tourism Fiji Chief Executive Officer has called for an increase in government spending towards the tourism sector as it aims to “keep its momentum going”. With the Fiji government’s budget announcement a month
Opinion: Fiji’s three-speed economy
Fiji’s swift rebound from the pandemic-induced downturn has been impressive. The economy is doing better than it was in 2019 with tourism leading the rebound. Visitor arrivals in 2022 exceeded most expectations and
Tongan appropriation Bill 2024 for $899.2 million budget passes first reading
The Legislative Assembly of Tonga passed the first reading of the 2024/2025 Appropriation Bill 2024 today. They are planning for expenditure of $899.2 million (US$ 380.24 million) with $452.3 million (US$191.37 million)
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