Government receives audited financial statements from RBF

PBP: Additional share quoted

Pleass Global Ltd quoted an additional 90,210 shares at $2.755 per share last week on the South Pacific Stock Exchange (SPX) through a Dividend Reinvestment Plan (DRP). The company made the announcement on SPX, where it is listed under the listed company code PBP. PBP declared a dividend of four cents per share on August...

Lloyd’s to enter Fiji | New climate-related insurance product design

Fiji will be on the frontline of a new climate-related insurance product designed to help Small Islands Developing States (SIDS) and Least Developing Countries (LDCs) mitigate climate-related financial risks. In a statement this week, Lloyd’s, the world’s leading marketplace for insurance and reinsurance, announced a partnership with the United Nations Capital Development Fund (UNCDF) to...

Growth in service exports

Fiji has experienced a growth of $445.1 million in service exports in the second quarter of 2023 as compared to the same period the previous year, while the import of services has only grown by $122m for the same period, boding well for the nation’s economic growth. According to a statistical news release by the...

Singh: Climate Change is main global challenge

Climate change is one of the main global challenges facing households and businesses, having profound impact on employment and productivity prospects — all important ingredients for economic and social growth progress. This was relayed by Minister for Employment, Productivity and Industrial Relations Agni Deo Singh to a room full of accountants while officiating the opening...

$5b investment towards tourism industry

The $5 billion investment by three Middle Eastern families towards the tourism industry has been confirmed and is legitimate, says professional landscaper Naushad Ali. Mr Ali, who acquired his dual citizenship together with his wife Sherene Ali in 2016, says because of the previous governments draconian ruling style they waited until after the Coalition Government...

8.2 per cent contribution to GDP

Agriculture Ministry permanent secretary Andrew Tukana says non-sugarcane agriculture contributed 8.2 per cent of the country’s gross domestic product in 2021. Mr Tukana told an agriculture discussion forum in Suva yesterday farming was vital to Fiji’s economy. “Farming provides food security, income and employment,” he said. “It supplies food to the tourism industry, inputs for...

Financing challenges for commercial farmers and SMEs

The Reserve Bank of Fiji sets a target of just 4 per cent of total loans to go to the agriculture sector, says Agriculture permanent secretary Andrew Tukana. Officiating at the agriculture discussion forum yesterday Mr Tukana said neither commercial banks nor the emerging microfinance industry was willing or able to sufficiently meet the financial...

$300m agri trade deficit

Fiji consistently runs on an agriculture trade deficit in excess of $300 million. Agriculture permanent secretary Andrew Tukana told an agriculture discussion forum yesterday that population growth, the accelerating pace of climate and the evolving dietary preferences of the people presented further challenges. “Without accelerated growth in the agricultural sector and the agri-food industry, Fiji...

Good news for cassava farmers

Good news for cassava farmers in Vanua Levu, as they can supply 10,000 tonnes of cassava every week at the price of $400 a tonne. In a meeting held in Labasa yesterday, facilitated by Minister for Sugar Charan Jeath Singh, the sale of cassava will begin next week. Mr Singh said during his campaign leading...

Tariff review sparks concerns

Deep concerns have been raised within the local business and industrial sectors, including tourism operators regarding the recent pursuit of a tariff review by Energy Fiji Ltd (EFL) with the Fijian Competition and Consumer Commission (FCCC). In a media release issued yesterday the Fiji Hotel and Tourism Association (FHTA) shared their dismay at EFL’s justification...

Triple bottom line | Shifting smaller businesses from informal to formal sector

Soleya, a management consultancy company, has dedicated itself to the aid of micro enterprises; one woman’s passion project to uplift aspiring entrepreneurs in a nation that she now calls home. Mrs Noellie Garand, managing director of Soleya, holds a diploma in Innovation Management and two master’s degrees: one in Policy Studies and another in Development...

$35 million complex for Nausori

Nausori residents will soon have access to an apartment hotel and retail complex at the heart of the town’s main business area thanks to a public private partnership between the Nausori Town Council and Shop N Save Supermarkets Ltd. The approximately 7500 metre squared plot where the old Nausori market once stood will house a...

36 hotels record $4.3m room sales

Thirty-six hotels in Fiji recorded room sales of $4,372,033 in the month of August, Tourism Fiji has revealed in its monthly accommodation report. Fiji recorded 87,368 visitor arrivals in August. “In August 2023, properties in Fiji maintained a steady occupancy rate of 84%, showing a slight decline from the previous month of July, which averaged...

Telecom Fiji and Housing Authority sign MOU

Housing Authority (HA) and Telecom Fiji Limited signed a memorandum of understanding on Tuesday, marking a significant milestone in the digital transformation journey of the authority to enhance customer and staff experiences. The MOU paves the way for Telecom Fiji to provide innovative Electronic Document Management Solutions (EDMS) to enhance document handling and workflow efficiency within...

World Maritime Day reflections

In Fiji, and most parts of the Pacific, it’s common to have a friend with a boat or someone who simply adores sailing and relishing the open sea. Here in the islands, the ocean envelops us, providing protection, sustenance, and nourishment. For generations historically, the ocean has been the provider of life, food, medicine, heritage,...

1.7 per cent increase in August CPI

With the 15 per cent value added tax coming into effect from August 1, there was an increase in the average changes in the prices of goods and services purchased by households nationwide. The Fiji Bureau of Statistics has reported Consumer Price Index (CPI) for the month of August 2023 registered an increase of 1.7...

New chair and board members

Forensic accountant and academic Dr Ilimotama Cawi has been appointed as the new chairperson of the Real Estate Agents Licensing Board (REALB), including three board members. In a media release yesterday the board said Dr Cawi will be assisted by deputy chairperson Caroline Waqabaca with King Anwar Hussain and Unise Druavesi. Deputy Prime Minister and...

We are here to help! The benefits of joining the Fiji Commerce and Employers Federation

In the vibrant and dynamic landscape of Fiji’s private sector, the Fiji Commerce and Employers Federation (FCEF) stands as a steadfast beacon of support and advocacy for businesses across the nation. Established with the mission to protect, promote & preserve good Governance, free enterprise & commerce for the economic development in Fiji, FCEF has been...

Students graduate from a free training program

“Socioeconomic backgrounds should not deter us from dreaming,” said Minister for Education Aseri Radrodro at the graduation of more than a hundred underprivileged Suva residents from a free training program delivered by the Fiji National University (FNU). The week-long program offered training in domestic electrical installation, basic screen printing, basic cookery, small engine repair, and...

One billion steps in 60 days

In their efforts to raise awareness and support the work done by WOWS Kids Foundation, BSP Life has pledged one billion steps in 60 days. BSP Life’s acting managing director Craig Strong yesterday said they supported the work done by the foundation. Mr Strong said they would use whatever resources they had to get behind...

Tropical cyclone damage protection for farmers

The newly launched anticipatory action insurance product to protect farmers from tropical cyclone damage pays out up to 20 per cent of the sum insured 72 to 48 hours before the forecasted event. The product, launched by Sun Insurance with the support of the United Nations Capital Development Fund and the United Nations Office for...

Possible solution

The launch of an anticipatory action insurance product by the United Nations and Sun Insurance may be the answer to cyclone damage for many local farming groups. The Pacific’s first anticipatory action insurance product of its kind, it aims to provide co-operatives in Fiji with the financial resources to prepare for and recover from the...

Prominent awards for local operator

A prominent name in Fiji’s travel and tourism industry was honoured with two prestigious awards – Fiji’s Leading Tour Operator and Fiji’s Leading Travel Agency — at the recent World Travel Awards Asia & Oceania Gala Ceremony 2023 in Ho Chi Minh City, Vietnam. Rosie Holidays managing director Tony Whitton expressed his heartfelt appreciation for...

Beach cleaning technology

The InterContinental Fiji Golf Resort & Spa has invested in new, state-of-the-art beach cleaning technology to ensure the pristine beauty of Natadola Beach is preserved and protected. The IHG Resort owned by the Fiji National Provident Fund (FNPF), is reportedly the first in the country to purchase the Manta Beach Cleaner and implement the cutting-edge...

Flights to Noumea soon

Fiji Airways has announced it will start direct flights to New Caledonia from November 30th. Fiji has an existing Air Service Agreement (ASA) which allows Fiji Airways to provide services in French territories. “Based on this agreement, we were able to negotiate with our counterparts in New Caledonia and select a date for the commencement...

Better access to success

More than a hundred students have completed a one-week training program delivered by the Fiji National University (FNU) to gauge their interests and abilities, and encourage the pursuit of further education for those who had thus far been left behind. Acting Vice-Chancellor Professor Unaisi Nabobo-Baba said this initiative sends a message that every Fijian matters...

New chapter for 150 underprivileged students

“Let this graduation be a testament to our potential and a reminder that we have the power to achieve our dreams,” said TVET Domestic Electrical Installation graduate Tomasi Bula, speaking as representative of the about 150 students that graduated on Friday last week. The Fiji National University delivered a free week-long training program for street...

$50.5m profit

Fijian Holdings Group (FHL) recorded an operating net profit before tax of $63.22 million for the year ended June 2023 compared with $18.6m in the corresponding period last year. A market announcement from the group sent through the South Pacific Stock Exchange (SPX) said the group recorded a net profit after tax of $50.5m for...

Digital literacy is key

Digital literacy is vital to ensuring that people are not caught up in online scams, said Australia-based telecommunications scholar Amanda Watson. Speaking to the Fiji Times on the Ebay Shop Fiji scam saga, which closely follows a similar scam in Papua New Guinea early this year, Dr Watson said scams happen daily through digital means...

Business

26th September