Business

3rd October

FIU warns Fijians of cryptocurrency scam

The Fiji Financial Intelligence Unit (FIU) is warning members of the public of a current cryptocurrency scam in the country. The FIU stated those scammers had circulated advertisements on various Viber and other social media...

2nd October

ICAO awards Fiji

Fiji has been recognised by the International Civil Aviation Organisation (ICAO) for its thorough and effective implementation of safety and oversight systems. This was shared by Civil Aviation Authority of Fiji (CAAF) acting CEO and controller aviation security and facilitation, Rigamoto Aisake, while submitting their Annual Report for 2020 before the Standing Committee on Social...

1st October

Export partnership: Nama Fiji set to hit NZ shelves

Premium local skincare brand Nama Fiji is set to hit the New Zealand shelves from next week following an exciting export partnership announcement by Essence Group Fiji with renowned New Zealand retail chain, Farmers. Essence Group managing director Debra Sadranu said the partnership with Farmers provided exciting opportunity for its premium skincare brand to be...

Fiji joins electric vehicle revolution

Fiji’s first fully electric taxi, owned by Vesi Taxis, was showcased this Thursday, alongside the official launch of the first local charging network to support electric vehicles (EVs). The Switch Network was conceptualised only a few months ago by Leaf Capital Pte Ltd who have sought to bring e-mobility to Fiji since they were established...

WEBC launches five-year strategic plan

Women Entrepreneurs Business Council launched their five-year strategic plan yesterday after the annual general meeting of their parent body Fiji Commerce & Employers Federation. Guest of honour, French ambassador to Fiji, François-Xavier Léger said France had made significant progress to improve gender equality and that the embassy was glad to provide support for Fiji to...

Shortage of CO2 affects beer production worldwide including Fiji

Beer producers around the world have been hit by a shortage of carbon dioxide and Fiji has not escaped unscathed with the key ingredient in short supply. Paradise Beverages said it has been “impacted” by the low supply of CO2 gas a critical component in the production of carbonated drinks including Fiji Bitter and Fiji...

National Payment System Act and Regulations effective

The National Payment System Act 2021 and Regulations 2022 have been published in the Fijian Government Gazette and are now effective. This marks a critical milestone in a broader ongoing reform program led by the Reserve Bank of Fiji (RBF). RBF Governor Ariff Ali said the commencement of these regulations would help modernise our financial...

VNPF to invest $7m in building embassy in Fiji

The Vanuatu National Provident Fund (VNPF) will spend $7million on the construction of the Vanuatu High Commission building in Suva. This, according to VNPF’s CEO and general manager Parmod Achary during an interview at the Ministry of Economy in Suva. “The new Vanuatu High Commission will cost around 350 million vatu which is equivalent to...

30th September

Vintage flair for city

Owner of one of Suva’s few high-end clothing boutiques is making plans to open a vintage clothing store. Director of Black Salt Holdings Ltd and owner of La Chic, Asad Khan has seen success in his apparel business in Fiji. His store, located in the Mid-City complex, sees a more refined clientele as the store...

Council welcomes removal of fees

The Consumer Council of Fiji (CCoF) commended the BSP Financial Group Ltd for removing surcharge fees on all locally issued Visa debit cards transacting on BSP EFTPoS terminals and is calling for other financial institutions to follow suit. CCoF chief executive officer Seema Shandil said the Fijian economy was transforming into a more cashless and...

Resort announces Osborne’s appointment

The Hilton group has recently named a highly capable and engaging leader in Carey Osborne as the new cluster general manager of Hilton Fiji Beach Resort & Spa and DoubleTree Resort by Hilton Hotel Fiji, Sonaisali Island. Area vice president and head of Australasia at Hilton Asia Pacific Paul Hutton commented that Ms Osborne has...

Company enters the energy drink market

Punjas has entered the energy drink market with the launching of Solar Power Energy Drink. In a statement, Punjas said the drink had ingredients from natural sources and gave a refreshing boost to everyday customers. “We have seen a growing demand for functional beverages within Asia Pacific and consumers are seeking alternative beverages that offer...

Positive projections – Recovery to reduce poverty from 3.7 per cent to 2.4 per cent

Recent projections by the World Bank indicate that economic recovery will reduce extreme poverty from 3.7 per cent in 2021 to 2.4 per cent in 2022. The World Bank’s latest East Asia and Pacific October 2022 Economic Update said this was still above the pre-pandemic rate of 1.3 per cent in 2019, which was also...

29th September

Fighting cybercrime: Fiji’s ability to combat cyberattacks will be enhanced – O’Connor

Fiji’s ability to combat cybercrime will be enhanced after the proposed ratification of the Budapest Convention, says Standing Committee on Foreign Affairs and Defence chair Alex O’Connor. A round of submissions was delivered before the committee by representatives of the University of the South Pacific (USP), Fiji Women’s Rights Movement and the Fiji Law Society...

28th September

Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown

By Casey Hall SHANGHAI (Reuters) – China’s coronavirus-driven economic slowdown is proving to be a boon for Zhu Tainiqi, the Shanghai-based founder of second-hand luxury goods marketplace ZZER, who is now scouting for shop space to expand the business. The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin...

China’s offshore yuan hits record low against strengthening dollar

SHANGHAI (Reuters) – China’s yuan tumbled against a rising dollar in early deals on Wednesday, with its offshore trades dropping to a record low, pressured by expectations for more Federal Reserve rate hikes. China’s offshore yuan fell as far as 7.2349, the lowest level since such data became available in 2011. It traded at 7.2286...

Why no news may be good news for China-watching investors

By Summer Zhen and Xie Yu HONG KONG (Reuters) – Investors are dialling back risk exposure ahead of China’s Communist Party Congress in October and sticking money in the relative safety of mainland blue chips as they await signs Beijing is ready to address problems hanging over the economy. The ChinaAMC China 50 ETF, the...

Recovery on track

This year’s World Tourism Day comes at a time when Fiji’s tourism recovery is well on track and exceeding forecasts. Tourism Fiji shared this yesterday as local tourism stakeholders celebrated this significant day and marked Fiji as a safe, wonderful destination to travel to. “We’re so pleased that many tourists have chosen to come to...

New loan facility for cane growers

New and existing cane growers now have an opportunity to take advantage of affordable borrowing with the recent launch of the Fiji Development Bank’s Sugarcane Farmers Special Loan Facility. The launch was facilitated by the Minister for Economy Aiyaz Sayed-Khaiyum in Drasa, Lautoka on Monday. Growers were told that government would pay 6 per cent...

Fast Company’s website shuts after Apple News feed hacked

(Reuters) – U.S. business and media publication Fast Company’s Apple News account was hacked on Tuesday evening, the company said, prompting it to shut down the website. Apple Inc’s Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet. Hackers sent two “obscene and racist push...

Significant data

Fiji has welcomed 377,503 tourists since borders reopened in December last year. Tourism Fiji shared these exciting figures as local tourism stakeholders reflected on their journey so far in yesterday’s celebration of the World Tourism Day. “That’s really significant for Fiji and we’re now seeing some exciting growth in what’s being offered by our tourism...

Apple drops iPhone production increase plans as demand falters – Bloomberg News

(Reuters) – Apple Inc is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday. Apple did not immediately respond to a Reuters request for a comment. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich)

Disney to shutter Florida theme parks as Hurricane Ian draws near

(Reuters) – Walt Disney Co will close its theme and water parks on Wednesday and Thursday as Hurricane Ian nears the coast of Florida, the company said on Tuesday. Residents of Florida’s Gulf Coast headed for higher ground as the hurricane threatens to bring a deadly storm surge and more than a foot of rain...

Ride-hailing firm Lyft freezes U.S. hiring – New York Post

(Reuters) – Ride-hailing company Lyft Inc is freezing all hiring in the United States until the end of the year, the New York Post reported on Tuesday. The company has started notifying job candidates of the freeze, the report said, citing a statement from the company spokesperson. Lyft did not immediately respond to a Reuters...

27th September

Mana’s golden jubilee

Mana Island Resort and Spa is buzzing as it commenced activities to mark its 50th anniversary this year with a number of activities — and the resort has already been a hive of activity. Earlier this month, the Mamanuca-based resort hosted its first ever swimming competition since the global pandemic shut down the entire tourism...

‘Agriculture GDP rise 7.9 per cent yearly’

The agriculture sector’s gross domestic product (GDP) increased at an average growth rate of 7.9 per cent every year between 2010 and 2019, says Minister for Agriculture Dr Mahendra Reddy. While officiating at the Mini Agriculture Show and Agriculture Farm Machineries Exhibition held recently at the Nacocolevu Research Station in Sigatoka, he said non-sugar agriculture...

Women entrepreneurs share their testimonies about facility

The Fiji Development Bank’s Loan for Women Entrepreneurs facility was launched about two months ago and so far the bank has processed about 35 per cent of the 1600 applications received so far and 30 per cent of the loans disbursed. FDB chief executive officer Saud Minam said their aim was to make the loan...

Loan helps business

Melaia Adi of Yasawa-i-Rara started her working career as a school teacher and taught in various schools around the country for 21 years until she finally decided to resign from the profession and ventured out to dedicate her full time to her business. Ms Adi started teaching in 1997 and was a devoted teacher but...

McDonald’s hikes prices in Japan on higher input costs, weaker yen

TOKYO (Reuters) – Japan’s McDonald’s fast food restaurants will raise prices on about 60% of offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday. From Friday, the cost of the signature Big Mac hamburger will increase to 410 yen ($2.85) from 390 yen, McDonald’s Holding Company Japan Ltc...

26th September

$42m profit for central bank

The Reserve Bank of Fiji recorded a net profit of $42 million despite challenging global financial markets. The central bank also revealed that unlike, previous years where interest income from foreign reserves contributed the bulk of the bank’s revenue, the out-turn in the 2021-2022 financial year was underpinned by higher interest income from domestic bonds...

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