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Fiji Time: 11:52 AM on Wednesday 23 July

/ Front page / Business

BRIEFLY

Geraldine Panapasa
Wednesday, December 19, 2012

Stand in line

ANZ customers prefer to queue up the old fashioned way at the bank because they find that queues tend to move much faster this way says ANZ communications manager Pacific Emily Kinnear. Her comments follow concerns raised by customers early in the month that the removal of the automated ticketing system at the bank's main branch in Suva forced a lot of people to wait in line for over an hour for service during peak hour. "Overall feedback from customers suggests that while they like using the automated queue ticketing system, they actually prefer to queue up. Unfortunately we did have a few issues (early in the month) with moving people through the queue quickly, with more customers in the branch during the peak time than usual."

IMF estimates

THE International Monetary Fund has revised its global growth projections downward for the second time in a year. According to the latest Asian Development Bank's Pacific Economic Monitor report, IMF projects global growth to slow to 3.3 per cent in 2012 and 3.6 per cent in 2013. This was attributed to increasing global uncertainties and the continued fiscal and banking problems in the Eurozone, and signs of economic slowdown in large emerging economies such as Brazil, China, India and Russia.

Pacific trade

TRADE between Asia Development Bank's 14 developing member countries in the Pacific and their largest trade partners remain robust. According to ADB's Pacific Economic Monitor: December 2012, the value of Pacific imports from Australia between January and August this year grew by 12.6 per cent compared to the same period last year. Increased imports of machinery and transport equipment in Papua New Guinea drove the rise while Pacific exports to Australia declined by 4.8 per cent over the same period.

Fiji exports

THE value of Pacific exports to New Zealand increased by 6.6 per cent from January to August this year, with exports from Fiji (comprising more than half the total) noting a decrease compared to the same period last year. However, continued increases in exports from Nauru (phosphate) and PNG (coffee and food products) compensated for the decline in Fiji's exports, according to the latest economic development report from the Asian Development Bank.


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