Business

3rd December

Ready to assist

Commercial banks in the country have provided $3.5 billion worth of repayment holidays, loan restructures and interest only facilities to its customers. Association of Banks in Fiji chairman Rakesh Ram made the statement at the...

2nd December

FAA issues new first air certificate for Boeing 737 MAX since 2019

WASHINGTON/CHICAGO (Reuters) – The Federal Aviation Administration (FAA) has issued its first airworthiness certificate for a Boeing 737 MAX built since March 2019, the agency said on Tuesday. The FAA on Nov. 18 lifted a 20-month-old grounding order on the MAX after two fatal crashes in five months killed 346 people. The FAA is requiring...

Freesoul has no approval to work on Malolo, Environment director tells court

Freesoul Real Estate Development (Fiji) PTE Limited currently does not have any approval from the Department of Environment to carry out any works on Malolo Island. This was revealed by Environment Director Sandeep Singh while giving evidence during trial before Suva Magistrate Seini Paumau today. Ms Singh took the stand today and told the court that...

RBF: Personal remittances to Fiji increased in first 10 months

Personal remittances to Fiji increase by 7.3 per cent to $521.0m in the first 10 months of this year, the Reserve Bank of Fiji has reported. For the month of October alone, personal remittances totaled a record $69.0m, which represented a 29.5 per cent increase over the previous month, and an increase of 58.7 per...

Shell faces Dutch court as climate change activists demand end to emissions

AMSTERDAM (Reuters) – Royal Dutch Shell will face a Dutch court on Tuesday in the first hearing of a case brought on by environmentalist and human rights groups who demand the energy firm cuts its reliance on fossil fuels. Seven activist groups, including Greenpeace and Friends of the Earth Netherlands, filed the lawsuit in April...

Britain and EU warn that time is running out for Brexit trade deal

BRUSSELS/LONDON (Reuters) – Britain and the European Union warned each other on Monday that time was running out to reach a Brexit trade deal, with big differences still to be bridged on state aid, enforcement and fishing. The United Kingdom leaves the EU’s orbit on Dec. 31, when a transition period of informal membership ends...

1st December

Top award for crisis recovery program

A PROGRAM developed by locally based Six Sigma Academy Ptd Ltd has been named as the 2020 top award for crisis recovery program. The company was informed by the International board of Six Sigma Accreditations (IBSA) of its win. Chief assessor for the awards program, Dave Holtan said it was tough decisions as many organisations...

Access to digital money made easier

Launched  yesterday, Digicel’s mobile wallet aims to give its subscribers access to digital money — giving them the platform to send and receive money at no fees locally. Digicel Fiji chief executive officer Farid Mohammed said their new MyCash was part of their objective of being a digital operator with the goal of giving people...

Asco Motors new renovated building near completion at Nabua. Picture: RAMA

$1.93m profit – Financial results $6.9m behind budget

The half year financial results for Toyota Tsusho (South Sea) Ltd, trading as Asco Motors in Fiji stood at $6.9 million behind budget, attributed mainly to the significant slowdown in the new vehicle and car rental business. Company chairman Masahiro Kumahara said the net profit after tax for the half-year ended September 30, 2020 was...

Unit Trust and Fiji Police sign MOU to encourage investment

Unit Trust of Fiji (UTOF) and the Fiji Police Force today signed an MOU that will enable men and women of the Force to invest with the trust. Acting Commissioner of Police Rusiate Tudravu said the focus of the MOU was the well-being of their officers, adding that he was happy that those at leadership...

ATH Group records increased half-year profit after tax

Amalgamated Telecom Holdings Ltd (ATH) and its group companies has recorded an interim and unaudited consolidated profit after income tax of $28.04million. This represents a 7 per cent increase when compared to $26.17m recorded for the corresponding period. In its half year result ending September 30, 2020 – as reported in a market announcement released...

Akbar urges young people to be innovative; new gaming shop opens

Fiji’s Minister for Education Rosy Akbar is urging young people to be innovative in what they do. She made the comment while officiating at the opening of a game shop called the Battlefield Stun Shop. Ms Akbar said it was pivotal for young people to have entrepreneurial skills. “What we are going through is beyond our control but...

30th November

Fijian Government to develop settlements

Government can only develop 43 out of the more than 250 informal settlements in Fiji, says Housing and Community Development Minister Premila Kumar. She made the comment during a public consultation on the draft Informal Settlement Lot Allocation policy in Sigatoka yesterday. “We have over 250 informal settlements and we have development leases for only...

RBF: Economic contraction for Fiji’s economy expected to be smaller than anticipated

As global economic conditions remain fragile with daily increases in new COVID-19 cases in many parts of the world – where the spread of the virus had previously been partly brought under control – the magnitude of this year’s economic contraction for the Fijian economy is expected to be smaller than initially anticipated. And Fiji’s...

FijiCare offers microinsurance bundled scheme in two Pacific islands

Publicly-listed company FijiCare Insurance Limited (FijiCare) has announced that it has now offered its microinsurance bundled scheme in Vanuatu and Kiribati. The company has piloted an insurance product that offered benefits of having both life and non-life insurance covers. This insurance product is not offered presently by any single insurer in the Pacific. According to...

PTI report: COVID-19 continues to have negative impact on businesses

The global COVID-19 pandemic continues to have a negative impact on businesses as borders remain closed. However, the extent and severity of impacts may be beginning to improve, with 79 per cent Fiji businesses reporting a negative impact, the lowest since tracking began. Pacific Trade Invest Australia recently released Pacific Business Monitor Fiji Focus 8,...

People fill up petrol yesterday as the new patrol price comes into effect from Monday. Picture: RAMA

New fuel and LPG prices come into effect on December 1

New fuel prices that come into effect from tomorrow will see motorists pay less for fuel while households will be forking out more for LPG. The Fijian Competition and Consumer Commission (FCCC) determined the new regulated prices after its review this month. The new retail fuel prices that come into effect tomorrow (Tuesday, December 1,...

27th November

Company assists charitable organisations

Timber and hardware suppliers B Prasad and Sons Pte Ltd gave $1056.20 each to the Fiji Society for the Blind and Hilton Special School yesterday. Company director Ashok Prasad said they had been engaging with the communities for more than 10 years. “It’s become a tradition for the company to assist both schools,” he said....

$800k investment

Crosslink Investments Fiji Ltd has ventured out into a new Grills Restaurant and Bar business with an investment of $800,000. The restaurant is owned by M Bhagwan, Tropical Garments Fiji and Tech360 Fiji directors, Bhupendra Kumar and his sons, Vimal Kumar and Divesh Kumar. Grills Restaurant and Bar plans to serve its patrons a mixture...

Business marks 10 years in operation

A commitment undertaken by the Charan Jeath Singh Group of Companies 10 years ago to contribute towards creating a sustainable society by making recycling a normal part of life building on environment conservation and climate resilience saw the company achieve production of about 20,000 tonnes of recycled paper from the factory in the past 10...

26th November

Focus on bridging information gaps

A total of 45 micro, small and medium enterprise (MSME) members were part of a workshop organised by the Fijian Competition and Consumer Commission (FCCC) which focused on bridging information gaps and creating awareness of regulatory and compliance matters. In a statement commission CEO Joel Abraham said with the awareness and training program they intended...

Challenge for manufacturers

Manufacturing companies in the country are facing additional challenges of trying to cope with the current economic situation as now imported items are almost the same price as the locally produced items. This was revealed by the Fiji Commerce and Employers Federation CEO Kameli Batiweti. “One thing that has come out of the budget is...

Catching the wave of blue finance

Time is running out to find sustainable ways to fund investments needed to protect the oceans that have given so much to humanity. Our oceans have been generous to us. They generate oxygen, help protect us from the sun’s heat, provide food and livelihoods to millions of people, and serve humanity in myriad other ways....

Trade facilitation

The COVID-19 pandemic has had significant impact on our lives. It has changed our lives in ways that we never imagined. One thing, however, has become very clear is the continued importance of global trade and the initiatives supporting the smooth flow of goods across borders, especially essential goods to areas where they are most...

Introduction to employment relations

The Employment Relations Act 2007 (ERA), the Health & Safety at Work Act 1996 (HASWA), the Accident Compensation Act 2018 (ACA) primarily establishes the terms and conditions of employment for all workers of Fiji, the relationship between the workers and the employers and the regulatory obligation the government has to manage the said relationship in...

Community project benefits police post

The Bank South Pacific (BSP) handed over a water tank and three handwashing stations to the Pacific Harbour Police Post last week. According to relieving BSP general manager retail, Kamini Mani, community projects formed an integral part of the bank’s journey of growth in Fiji. “For their 2020 community project, our Pacific Harbour branch chose...

Partnership to enhance learning and understanding

Collaboration between Leadership Fiji and Think Pacific Foundation (Fiji) is expected to enable international and local based university students connect virtually with leading figures and organisations from Fiji within different sectors in a bid to enhance their learning and understanding. A media statement stated that the partnership agreement announced yesterday also highlighted the opportunities available...

Airlines set to lose $157 billion amid worsening slump – IATA

PARIS (Reuters) – Airlines are on course to lose a total $157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to a second wave of coronavirus infections and shutdowns afflicting major markets. The International Air Transport Association (IATA), which in June had forecast $100...

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