Federal programmes in Guam facing uncertainties amid looming shutdowns
Federally funded programmes on Guam are facing uncertainties as the U.S. government heads toward a shutdown that will disrupt many services nationwide by 01 October. “At this point there are no real clarifications of
Ok Tedi life extension approved
The OK Tedi Mining Limited (OTML) in Papua New Guinea has had its mine life extension approved from 2023 to 2050, with an expected dividends payments in excess of K30 billion (US$8.2 billion), says chief executive
New Caledonia’s nickel sector faces energy crunch
French President Emmanuel Macron’s recent visit to New Caledonia highlighted the strategic importance of the vast reserves of nickel in the French Pacific dependency. Speaking in Noumea, President Macron said:
Pacific economies: driven to the brink of change
FANALEI. A 2-kilometre-wide island in the Solomon Islands. Once home to 500 people. Now, almost empty. The reason a young student and her peers are taking on the world. Just over 2000 kilometers away, a man in his
Solomon Islands granted three years LDC graduation extension by UN
Solomon Islands has been granted three years’ extension by the United Nations to prepare for least developed countries (LDCS) graduation. This was made possible through a Resolution which was adopted by the General
BSP facing more system issues than expected
Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system
Call for a review of the ‘regional architecture’ to address the needs of Forum Members
With so many regional plans, strategies, frameworks – and now the 2050 Strategy, some Pacific countries are concerned with how benefits are flowing to member countries. There are now calls to review the ‘regional
Inflation, interest rates cloud post-pandemic Pacific growth: World Bank
The resumption of tourism, higher public investment and construction have fuelled the Pacific region’s economic recovery from COVID-19 but a combination of persistently high imported inflation and interest rate hikes
PNG resource boom to last 30 years: Trade Minister Maru
Papua New Guinea is expecting a resource boom from next year because of at least five multi-billion kina projects in the pipeline, says International Trade and Investment Minister Richard Maru. “We don’t have just
PNG Power broke
Papua New Guinea State Enterprises Minister William Duma says PNG Power Limited has reached a critical point where all financial indications show that it is in danger of insolvency. “Major contributing factors over
FEMM endorsed re-designed Pacific Resilience Facility
The Pacific Islands Forum Leaders Meeting later this year in Rarotonga is expected to adopt and approve the redesigned Pacific Resilience Facility (PRF) after it was endorsed by the Forum Economic Ministers Meeting
Forum Chair calls for urgent rethinking of sustainable growth worries
The Chair of the Pacific Islands Forum and Prime Minister of the Cook Islands, Mark Brown, says there is an urgent need for Pacific leaders to relook at how they have been handling sustainable growth in their
Minimum wage rise increases private sector burden: Vanuatu Opposition
The newly introduced VT300 (US$2.49) minimum wage has increased the burden of the private sector, especially the small medium sized enterprises. This is one of the arguments that the Opposition bloc has cited in the
Nautilus to return to PNG
Papua New Guinea Mining Minister Sir Ano Pala told Parliament Nautilus was coming back to Papua New Guinea but under a different entity to operate as they had three exploration licenses still valid. Sir Ano said the
Fiji government launches ‘Citizen’s budget’
Orgs call for action on price gouging Fiji’s Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, says the new budget has been meticulously constructed to lay the groundwork for long-term progress.
Survey reveals F$2.09 billion in Fiji tourism earnings in 2022
Fiji’s tourism industry earned a total of $FJ2.09 billion (US$1.045 billion) between April and December last year, according to new survey results released this week. The Fiji 2022 Annual International Visitor Survey
Guam census: One in five live below poverty line
About one in five people surveyed in the 2020 Island Area Census of Guam were living below the poverty line, according to newly released data from the U.S. Census Bureau. Of the 145,453 people for whom poverty status
China-backed AIIB secures World Bank deal
The Asian Infrastructure Investment Bank, Beijing’s answer to the World Bank, has approved one of its highest-profile international partnerships, just weeks after it was accused of being infiltrated by China’s
Porgera gold mine reopening date set
Barrick Gold Corporation and the Papua New Guinea Government expect the Porgera gold mine to reopen in September, according to Barrick chief executive officer Mark Bristow. Bristow met with Prime Minister James Marape
PNG Cannery may generate K1.2 billion
Papua New Guinea Government and corporate partner RD Corporation will start talks on a fish cannery which is expected to generate about K1.2 billion (US$335 million) in annual revenue, says Prime Minister James Marape.
Thriving stock exchange eyed in PNG
Companies are not currently obliged to list on the Papua New Guinea stock exchange (PNGX), but a thriving stock exchange in the country can act as a catalyst for broader economic growth, says chairman David Lawrence. On
Too little to avert crisis, Puma Energy received US$12.7 million of foreign exchange in PNG
Puma Energy received about US$12.7 million (about K45.8 million) of foreign exchange (FX) on Friday, but this is still not enough to buy fuel needed to address the looming shortage in Papua New Guinea, the company’s
Fiji Budget Debate: TELs change ‘selling out’ students
Fiji opposition parliamentarian, Parveen Bala says the government’s new scholarship system is “selling out of the principle of equal access to higher education, just to keep a badly thought-out election