Results for Business

Delays in the arrests of the ring leaders of the mob, who destroyed the Nuku'alofa CBD on November 16, means that Tonga's emergency powers and the restricted zone must remain in force, a meeting of displaced business people was told on Tuesday.

Nuku'alofa's devastated business community will be allowed to delay their payments of Consumption Tax and Duty for six weeks.

The Governor of the National Reserve Bank of Tonga Joyce Mafi announced that as of today, November 23, all travellers departing the Kingdom of Tonga are allowed to take out of the country local and foreign currency notes, of not more than TOP$10,000, or its equivalent.

The controversial proposal by the Tonga government to close down all bonded warehouses by the end of March next year as part of an anti-corruption drive has been withdrawn.

Shoreline Power, Tonga's sole power generator signed a "Preliminary Sale Agreement" with Northpower of Whangarei, New Zealand, on October 31, Soane Ramanlal, the Chief Executive Officer for the Shoreline Group of Companies announced this afternoon in Nuku'alofa.

A sudden proposal by the Prime Minister and the Chief Commissioner for Revenue for government to close down the 20 bonded warehouses in Tonga by 31 March 2007 has angered Tonga's importers and undermined the confidence of investors.

The first shipment of Tongan squash bound for Japan and a new market Korea departed Nuku...’alofa on Saturday October 14 with 2,108 tonnes of squash, but a disappointingly low yield is expected this year.

The first shipment of Tongan squash for 2006 to Japan and a new market Korea will leave Nuku'alofa next week with 2,300 tonnes of squash.

The Tonga Electric Power Board today, announced a 5.21 seniti increase in the price of electricity that by the end of the year could translate into a 35.6% increase for domestic consumers.