Economic diplomacy: Banking on the Pacific
Rebuilding regional banking is unlikely to pay dividends without an underlying business revival. Australia’s oldest bank changed its name from the Bank of New South Wales to Westpac in 1982, reflecting apparent
Key UN report lends weight to Pacific plan for shipping emissions levy
Pacific governments say an official UN report shows their push for a levy on all shipping emissions – with the revenues redistributed to poorer nations – is fairer, cheaper and more effective than other green
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
Financial crisis looms over OACPS, SG Chikoti urges immediate action
The Organisation of African, Caribbean, and Pacific States (OACPS) faces significant financial challenges that threaten its operations, said Secretary-General Georges Rebelo Pinto Chikoti at the 117th Session of the
PM Salwai reaffirms Government’s commitment to resolving Air Vanuatu’s future
Vanuatu Prime Minister Charlot Salwai reaffirmed the government’s commitment to securing the future of Air Vanuatu and its employees on Independence Day, acknowledging the challenges and criticism along the way. He
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.
Winston Peters says he wants more rational debate on deep sea mining, not ‘virtue signalling’
New Zealand’s Deputy Prime Minister, Winston Peters, says mining is critical to transition away from fossil fuels, but the call for a moratorium in international waters by the previous government still stands.
PNG’s Economic Outlook remains positive, says IMF report
Papua New Guinea Prime Minister James Marape has welcomed an International Monetary Fund (IMF) report indicating that Papua New Guinea’s economic outlook remains positive. The IMF report, released Saturday,
Palau’s President proposes $3.4M Supplemental Budget to address healthcare shortfall
Palau President Surangel Whipps Jr has submitted a US$3.4 million supplemental budget proposal to Olbiil era Kelulau for consideration. The proposal allocates US$3.4 million and appropriates US$2.7 million. In his
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,
Luxury tourism operator Vanua Ranch aims for 2026 opening
Vanua Ranch has revealed plans to open Fiji’s first boutique villa resort, blending farm-based experiences with high-end luxury, by 2026. Located in Uciwai, Vanua Ranch will feature 17 exclusive boutique villas
The perils of underinsurance
Underinsurance and the unawareness of insurance remain significant challenges say insurance providers in Fiji and the Pacific. Chief Executive Officer of Capital Insurance in Fiji, Tonga, and Vanuatu, David Ariff Chan,
Parametric insurance industry off to a rough start in Vanuatu
Two insurance companies have exited Vanuatu, impacting beneficiaries and the burgeoning parametric insurance industry. Noeline W. Viro of the Insurance Supervision Unit of the Reserve Bank of Vanuatu, says that while
Pacific islands are being ‘debanked’. What does it mean – and why are Australia, NZ and the U.S concerned?
The withdrawal of major banks from Pacific islands poses significant socio-economic risks to the region, prompting intervention by Australia, the U.S and New Zealand. The so-called debanking of the Pacific – when
ANZ says in talks with Australian govt about shoring up Pacific Islands business
ANZ bank is in talks with the Australian government about ways to make its business in the Pacific Islands more viable as an exodus of Western financial services fuels concern about rising Chinese influence, its CEO
Funding injection to help keep banks in Pacific
An extra $6.3 million (US$4.24 million) in Commonwealth funds will go toward bolstering banking infrastructure in the Pacific, the federal treasurer will announce at a forum in Brisbane. The talks are focused on banking
Opinion: The political risk of a failed census in Papua New Guinea
The last reliable national census for Papua New Guinea (PNG) was conducted 24 years ago, therefore the 2024 census is critical. But early signs suggest the latest attempt to count the country’s population will not be
Superannuation is sitting in Australia as PALM workers report barriers, delays in claiming their money
Tevita Kofutu’a has plans for the $10,000 in superannuation he earned over five years of seasonal work in Australia. He’ll use it to buy a vehicle and pay a deposit on some land in Tonga where he and his
‘Very early stages’ of talks on viability of Nauru Airlines’ direct Australia-Guam route
Visiting Nauru Airline officials on Tuesday met with Guam Governor Lou Leon Guerrero and other local officials on the possibility of adding Guam to Nauru Airlines’ route, as it once did in the 1990s and early 2000s.
Pacific export revenue returns to pre-pandemic levels
The Pacific island region’s export industry has recovered its pre-pandemic-level performance, posting a 49 percent revenue increase in 2023, which was twice the growth rate recorded in 2022, according to the 2024
Samoa minimum wage increases to $4 per hour
There will be more money to take home for those on minimum wage as the Samoa cabinet has approved an increase in the minimum wage rate. The Ministry of Commerce, Industry, and Labour announced that, following Cabinet
PNG fuel crisis fixed: State Entreprise Minister Duma
Papua New Guinea State Enterprises Minister William Duma says passengers on Air Niugini flights will no longer be “inconvenienced” by the lack of JetA1 fuel. He made the announcement following an arrangement between
80,000 persons face starvation in PNG’s Porgera Valley
About 80,000 persons in Papua New Guinea Porgera Valley would soon be running out of food supplies and other goods and services, according to Enga Governor Sir Peter Ipatas. Ipatas said this after the main road from