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
Solomon Islands Finance Minister Sogavare identifies revenue leakages
Solomon Islands Minister of Finance and Treasury, Manasseh Sogavare, has emphasised the ministry’s commitment to addressing significant revenue leakages within various government departments. Sogavare candidly
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
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
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
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
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,
Winston Peters and Shane Reti make Cook Islands climate change announcement
Tackling the impacts of climate change is a key focus for New Zealand, with a total of $16.5 million (US$10 million) to go to the Cook Islands to help fight the crisis. Deputy Prime Minister and Foreign Affairs
Fiji Business Briefs: Fiji Airways charter, Kontiki results
Fiji Airways defends Israel charter flight arrangements Fiji Airways says it has adhered to ethical business practices in the running of last year’s charter flights to Israel, but has admitted the charterer has missed
Fiji Business Briefs: Pine harvesting, Nabouwalu development, Kinetic Growth updates
RBF gives insurers time to implement new standards The Reserve Bank of Fiji (RBF) says licensed insurers will only have to reflect new reporting standards in their prudential reporting from 1 January 2026. This follows