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Results for Economy

Thursday 2 August 2007
Sydney, Australia
The new president of the World Bank, Bob Zoellick, has said it is "absolutely critical" that South Pacific nations be able to send guest workers to Australia.
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Friday 20 July 2007
Nuku'alofa, Tonga
The price of electricity throughout Tonga will go up by 6.8 seniti per unit at the next meter reading in early August. The 11% increase is retrospective to the July electricity use.
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Tuesday 3 July 2007
Nuku'alofa, Tonga
The National Economic Development Council, a new government entity met for the first time on June 20.
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Saturday 30 June 2007
Nuku'alofa, Tonga
Tonga will become a full member of the World Trade Organisation on July 27, after filing formal ratification papers with the WTO Headquarters in Geneva on Wednesday.
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Thursday 31 May 2007
Nuku'alofa, Tonga
The Tongan economy should bounce back during the new financial year, HM King George Tupou V said this morning in his speech from the throne to open Tonga's 2007 parliamentary session.
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Wednesday 16 May 2007
Brussels, Belgium
The ACP Council of Ministers will hold its 85th session in ACP House (Brussels), from 22 to 24 May 2007, under the chairmanship of Lesotho.
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Tuesday 15 May 2007
Nuku'alofa, Tonga
Tonga's official Foreign Reserves fell by $9.8 million to $80.6 million in April, an amount equivalent to 4.1 months of imports of goods.
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Sunday 29 April 2007
Nuku'alofa, Tonga
Tonga's Minister of Finance Hon Siosiua T. T. 'Utoikamanu, has again expressed his concern over the projected significant decline of government's revenues, urging tighter government spending, and warning that government has few options for recovery after its reserves were used to pay for the civil service pay settlements last year.
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Monday 23 April 2007
Nuku'alofa, Tonga
Warning that Tonga faces a potential fiscal crisis, Finance Minister, Hon Siosiua T. 'Utoikamanu, today advised government ministers to trim back their departmental budgets, with cuts that could amount to $22 million for the new financial year.
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Tuesday 17 April 2007
Nuku'alofa, Tonga
At the end of day one of Tonga's first National Economic Summit, the one thing that is clear, is that government has diligently mapped out the direction of the summit, aiming to create new economic and trade policy making bodies.
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Wednesday 14 March 2007
Nuku'alofa, Tonga
Tonga's Reserve Bank will introduce new measures to help inject liquidity into the local banking system, to help meet the demand for new credit by businesses trying to recover from the destruction of the town centre on November 16.
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Wednesday 7 March 2007
Nuku'alofa, Tonga
The year 2006 may have been a tough year for most businesses in Nuku'alofa, but definitely not for the Westpac Bank of Tonga, which made a record net profit after tax of $7.5 million.
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Monday 5 March 2007
Nuku'alofa, Tonga
Tonga's official foreign reserves for February fell by $1.2 million, from $85.4 million to $84.2 million, an amount equivalent to 4.4 months of imports of goods. At the same period last year, 2006 Tonga's official foreign reserve was $82.4 million, enough for 4.3 month of import.
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Sunday 4 March 2007
Nuku'alofa, Tonga
The Tongan economy will be struggling for survival during the next financial year, 2007-08, warns Tonga's Minister of Finance, Hon. Siosiua 'Utoikamanu, saying that the government has suffered a massive hit on its revenue stream following the losses suffered by the country's businesses on November 16.
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Friday 23 February 2007
Neiafu, Vava'u,Tonga
A special US$848,968 Japanese Non-Project Grant Aid to Tonga was signed in Neiafu, Vava'u, last Wednesday, February 14.
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Thursday 8 February 2007
Nuku'alofa, Tonga
Tonga's plan to become a member of the World Trade Organisation WTO in July this year is now very doubtful, according to Paulo Kautoke, the Chief Executive Officer for the Ministry of Labour Commerce and Industries.
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Wednesday 10 January 2007
Nuku'alofa, Tonga
Tonga is unable to fund the reconstruction of its central business district and while it is out looking for international donors to provide finance, the recovery of businesses and the restoration of Law and Order are in slow-motion. By Pesi Fonua
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Friday 1 December 2006
Nuku'alofa, Tonga
Nuku'alofa's devastated business community will be allowed to delay their payments of Consumption Tax and Duty for six weeks.
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Friday 24 November 2006
Nuku'alofa, Tonga
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.
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Monday 23 October 2006
Nuku'alofa, Tonga
Revisions will be needed to Tonga's Income Tax Bill 2006 if it is to win acceptance in the House this year and in order to avoid a hostile reception from the public. This need is clear as public consultations on the Bill are winding up this week. By Mary Lyn Fonua
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