Nine percent interest for PNG National Superannuation Fund members
Papua New Guinea’s National Superannuation Fund (Nasfund) Trustee Board has approved a nine percent increase on members crediting rate for the financial year of 2023. This will result in a distribution of more
Fiji Business Briefs: Energy price hike rejected, SPX results, BSP Life payout
FCCC rejects energy price hike The Fijian Competition & Consumer Commission (FCCC) has rejected Energy Fiji Limited’s (EFL) bid to increase electricity prices. EFL wanted the adoption of both fixed and variable
RMI President questions US commitment on COFA funding
Republic of Marshall Islands President, Hilda Heine, has questioned whether the Marshalls have reached a crossroads in its relationship with the United States. As Marshallese gathered to commemorate Nuclear Victims
Prioritise cyber risk management: ANZ
A cybersecurity expert with the ANZ bank says many organisations fail to keep their systems up to date, and as a result, they expose themselves and their customers to cyberattacks. Eli Hirschauge, ANZ’s Head of
PNG fuel supplier Puma granted relief from court order
Puma Energy would now be able to make its own decision on fuel supply to the national airliner, Air Niugini. This follows a National Court order by Justice John Carey at the Waigani National Court Tuesday which releases
Pacific Islands nations should consider debt-for-nature deals to lower borrowing costs, IMF says
Pacific Islands nations most at risk from rising seas should consider novel debt-for-nature deals as high debt levels across the region make traditional loans unsustainable, a senior International Monetary Fund official
Puma stops fuel supply in PNG, PM searches Australia for fuel
Puma stops fuel supply in PNG PNG’s fuel dilemma is far from over. Service stations are shutting down while Jet A1 that keeps planes flying might finish today, says the country’s major fuel supplier Puma Energy
FSM launches first Citizens Budget
A first-of-its-kind Citizens Budget has been launched in the Federated States of Micronesia (FSM). FSM’s Department of Finance and Administration (DOFA) in a statement today said the National Government Fiscal
Nauru Airlines upgrades its fleet
Nauru Airlines has upgraded its fleet with a new 189-seat passenger aircraft. The blessing of the aircraft took place last week at the airline’s hangar in Brisbane, conducted by Rev David Deluckner, who is also a
ANZ anticipates Fiji population growth as overseas migration slows
Fiji is poised to witness an increase in labour force expansion and economic activity, starting in 2025, due to changes in trends in international migration, says the ANZ Bank. A new report from ANZ Research projects a
Cook Islands Parliament makes changes to seabed mining law
The Cook Islands has made amendments to its Seabed Minerals Act this week, including replacing the term “mining” with “minerals harvesting … to reflect the actual activity that takes
Continue aviation fuel supply, PNG court tells fuel supplier Puma Energy
Papua New Guinea National Court has ordered Puma Energy to continue supplying aviation fuel to Air Niugini until 27 February as per their agreement, describing the fuel supply issue as of national importance. Judge
Solomon Islands caretaker PM Sogavare says government needs to secure more loans
Solomon Islands needs to secure more loans to fully deliver projects in the National Infrastructure Priority Pipeline 2023 (NIPP 2023), caretaker Prime Minister Manasseh Sogavare stated. In his keynote address at the
Fiji Business Briefs: Visa pilot, Rosie goes electric, more hotels, FHL results
Fiji to pilot outsourcing of some passport and visa services Fiji’s Cabinet has given green light for the piloting of outsourcing of some passport and visa services. The initiative will establish application centres
Puma scales down operations, a fuel crisis is imminent in PNG
A fuel crisis is imminent with fuel and liquid gas supplier Puma Energy reducing its Papua New Guinea operation. Effective last Thursday, Puma Energy started to issue termination of contract notices to customers. Early
Black Wednesday: PNG’s Tinder Box explodes
Papua New Guinea’s capital, Port Moresby, is recovering from looting and burning of businesses in its National Capital District (NCD) after members of the PNG Police Force went on strike last month. “Black
Opinion: The politics of riots in Melanesia
The riots that erupted in the Papua New Guinea capital, Port Moresby, on January 10 have left a trail of destruction likely to have severe political ramifications. Such disturbances in Melanesia’s major cities are not
Samoa dealing with ‘taro trouble’
Taro, a Samoan staple food, has been on the decline for the last few years and as a result the prices have soared and supply to the local markets has dropped. This has also seen many Samoans consume less of the healthy
Bank boss paints positive picture of PNG prospects
Kina Bank plans to invest over K30 million (US$7.9 million) this year to expand and refine its services with a focus on improving Papua New Guinea customer service, says Managing Director and Chief Executive Officer,
Country must never face repeat of civil unrest: PNG Business Council
Papua New Guinea Business Council President, Susil Nelson-Kongoi says there should not be a repeat of the 10 January civil unrest in Port Moresby and around the country. She told the Prime Minister’s back-to-business
Huge pay rise for Solomons politicians
Members of Parliament in Solomon Islands are due to receive a huge pay rise this year despite the nation’s precarious state of the economy and poor government service delivery. The pay increase was published in a
Fiji Business Briefs: Ministry name change, medicinal cannabis movement, Down to Earth deal
Name Change for Ministry of Trade, Cooperatives, Small and Medium Enterprises, and Communications The Ministry responsible for small businesses will have a name change, to acknowledge micro enterprises and their role in
Fijian feminists launch new booklet in a call to action against poverty
Many tears and heartfelt stories were shared in Suva this week at the launch of a new booklet that highlights the socio-economic challenges that Fijian women, girls, and gender-diverse people face on a daily basis.
