Results for Economy

The Tonga Chamber of Commerce and Industry Inc. elected its council for 2013-14, and there was no contest for the nominations at its Annual General Meeting in Nuku'alofa, last night.

Economic cooperation with the emerging Asian economies is important for the economic recovery of Pacific Islands, Forum Economic Ministers agreed at the 17th Forum Economic Ministers Meeting (FEMM) in Nuku'alofa from 4-5 July.

The Tonga government's biggest-ever budget estimate of T$357.6 million for the 2013-14 financial-year was unanimously passed by parliament yesterday evening, 27 June. From the House by Pesi Fonua.

Tonga needs to find ways to boost the local economy, said HM King Tupou VI when he opened the 2013 Session of the Legislative Assembly of Tonga at Parliament House, on June 13.

Australia is the largest single ultimate destination for Chinese direct investment, and though Australia is a relatively small economy, it is likely to remain one of China's largest foreign investment destinations for a while to come. At the same time, the scale and pace of growth in Chinese direct investment has led to populist reactions that have challenged the open investment regime in Australia and, in particular, raised policy questions about whether investments by state-owned enterprises (SOEs) need to be treated differently from private investment. By Peter Drysdale, Australia National University.

Growth in developing East Asia and Pacific is strong but slowing, region needs to become less reliant on exports and capture new sources of growth, says World Bank East Asia & Pacific Economic Update.

While the Pacific region is expected to see some economic progress this year - mainly due to increases in commodity prices, tourism and investor-friendly policies - weak governance will continue to hinder the region's ability to make significant gains, according to the 2008 edition of the Asian Development Bank's (ADB) flagship annual economic publication, Asian Development Outlook (ADO).

An elderly Italian, who reputedly earns $100,000 annually from growing tomatoes on one acre of sandy soil, told the Taimi of December 27 that Tongans are hard workers, but they need organization and direction. The solution to Tonga's economic woes is in the hands of the Tongans themselves. Highlights from Tonga's newspapers, December 26, 2007- January 3 2008. An English translation summary by Tevita Fonua.

The Pacific economies grew by 3.1 percent in 2006, picking up from 2.5% growth in 2005, says the 2007 edition of ADB's flagship annual economic publication, Asian Development Outlook (ADO).