THE central bank transferred $39.9million to the Fijian Government on Wednesday for the financial year ending December 31, 2013. In a statement, Reserve Bank governor Barry Whiteside said this comprised its total profit of $31.9m for the past financial year and $8m, which represented one-fifth of the balance of revaluation account as per the RBF…
The Asian Development Bank (ADB) has projected Fiji’s growth to moderate to around 2.8 per cent this year and accelerate to three per cent next year. The bank further indicated that Fiji’s growth for the past year was 3.6 per cent which was what the Reserve Bank of Fiji had released earlier. This is highlighted…
Asian Development Bank (ADB) President Takehiko Nakao and Palau’s Finance Minister and ADB Governor Elbuchel Sadang have signed a loan agreement to fund the Koror-Airai Sanitation Project, which will improve the delivery of sanitation services in Palau. “The Government of Palau must be congratulated for their integrated approach to improving sanitation and water services,” said…
Economic growth in the Pacific is projected to rise to 5.4% in 2014 from 4.8% in 2013, according to the Asian Development Bank’s (ADB) latest Asian Development Outlook 2014, launched in Sydney on Tuesday. Most economies across the Pacific are expected to perform better this year due to higher stimulus from the implementation of large…
The proposed changes to the Mining Act 1992 will not affect Papua New Guinean resource owners and investors. The reassurance from Mining Minister Byron Chan comes as the Mineral Policy and Geohazard Department finalises the amendments to be passed in parliament this year. “The Mining Act’s amendments is well prepared to be received by…
FIJIS Bounty overproof rum has won a number of significant awards in competition with the worlds best rums at the San Francisco Spirits competition this year. In a statement this week, Coca-Cola Amatil Limited said Bounty overproof rum was one of the portfolios of Fiji Rum Co spirits brands owned by Coca-Cola Amatils Fiji and…
As part of efforts by the Fijian Government to sustain economic development through accessible and sufficient energy, the Department of Energy has adopted the Sustainable Energy Financing Project. The Sustainable Energy Financing Project (SEFP) has been adopted by Fiji to reduce fuel importation & environment pollution and save money by converting electricity generation from fossil…
BRISBANE Airport chiefs are planning to build a monorail system to move passengers around the hub as they prepare for a huge increase in traffic over the next 20 years. The mass transit system proposal is part of a draft master plan to be released this week outlining $2.5 billion of development at the airport…
The country faces a challenging future in terms of its economic growth given the dwindling forestry industry as more natural forests are being logged out. Asian Development Bank (ADB) economist Milovan Lucich who is looking after Nauru, Solomon Islands and Vanuatu sounded the alarm during last week’s ADB Pacific business media summit in Sydney, Australia.…
ANZ on Tuesday announced the addition of another ANZ goMoney merchant to its expanding network across the Solomon Islands. A statement from the bank said Soltai Staff Credit Union in Noro is ANZ’s latest ANZ goMoney merchant in the Western Province, taking the total number of merchants in the area to 16. “ANZ goMoney will…