NZ commits $20m to Cook Islands budget, $10.5m for public service
Cook Islands has secured $20 million (US$12.30 million) in Core Sector Budget Support and an additional $10.5 million (US$6.45 million) for continued public sector strengthening during the 8th Cook Islands-New Zealand
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)
Telstra says PNG workforce will not be impacted by job cuts
Telstra announced measures to begin the reset of its Enterprise business, simplify its operations and improve productivity. Some of the proposed measures, which require consultation with employees and unions, would
Opinion: PNG’s gold bill implications for the central bank
PNG’s proposed National Gold Corporation Bill 2023 has attracted lots of debate, objections, and protests. Just last week, the government agreed to amend the immensely long bill (currently over 500 pages!) and consult
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
Vanuatu PM discloses $2 billion fund diversion, Airline crisis unveiled
Vanuatu Prime Minister Charlot Salwai has revealed that the Vanuatu Government’s VT2 billion (US$8.3 million) budget allocated for a new plane was instead used to pay for the lease of the ATR72 aircraft.
Opinion: 2024 Australian aid spending and effectiveness update
Australian Foreign aid was increased by 4% over what had been projected last year to bring the 2024-25 aid budget to $4.961 billion, virtually unchanged from the (inflation-adjusted) 2023-24 level of $4.900 billion. The
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
President Whipps sued in the U.S courts for alleged violation of the Compact Treaty
Palau President Surangel Whipps Jr. was sued in Sherman, Texas, USA and was served the court summons earlier this month while campaigning in Texas. The lawsuit was filed by Christa NafstadToribiong, the current wife of
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
Palau hoping for more things to come
Palau may not have been able to bag everything it hoped for under the renegotiated terms of the Compact of Free Association, but at some point, a deal had to be closed and the nation had to settle for a compromise,
Opinion: Call on ADB to secure correspondent banking partners for Pacific countries
Pacific countries have sought the help of the Asian Development Bank (ADB) to secure correspondent banking partners to increase investment and raise opportunities for local businesses. The 14 Pacific Developing Member
Papua New Guinea has ‘human capital crisis’, says World Bank
The World Bank has urged the largest Pacific Island nation, Papua New Guinea, to address a “human capital crisis” and invest more in educating children, who suffer high rates of stunted growth and illiteracy, as a
Palau tourism rebounds, aims for Pre-Pandemic levels by year’s end
Palau’s tourism industry is experiencing a significant comeback, with visitor arrivals steadily increasing throughout 2023 and into 2024. Total arrivals in 2023 surpassed 42,000, reaching nearly 45 percent of
Opinion: The Climate Crises & High Debt-Levels in the Pacific: Who will pay?
As Fiji and neighbouring Pacific Island Countries face the daunting prospect of dealing with unprecedented national debt levels and the effects of climate change, the issue of how climate action will be financed becomes
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.
Growth of 3.3 percent Expected in Papua New Guinea in 2024, 4.6 percent in 2025 — ADB
The economy of Papua New Guinea (PNG) is expected to improve in 2024 and 2025, according to the Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication. The positive outlook is driven by
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
Solomon Islands PM’s wife slams report on family properties as unethical journalism
The wife of the caretaker Solomon Islands Prime Minister Manasseh Sogavare has described the In-depth Solomons article titled ‘Solomons PM Has Millions in Property, Raising Questions Around Wealth’ as a publication