DeepGreen Metals Inc., a Canadian-based seafloor mining developer, has taken over the Tonga Offshore Mining Ltd, and expanded its footprint of mining for Polymetallic nodules in the central Pacific. They are planning to extract cobalt and other battery metals from the seafloor.
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Thursday 23 April 2020
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Nuku'alofa, Tonga
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Wednesday 22 April 2020
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Nuku'alofa, Tonga
Tonga's tourist industry hit hard by Severe Tropical Cyclone Harold and CoViD-19 lockdowns this month will soon be allowed new duty free and CT free imports of building materials, along with other incentives, while all businesses are allowed an extension of time for filing some tax returns, Tonga's Revenue and Customs Services told the Tonga Chamber of Commerce and Industries yesterday.
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Tuesday 21 April 2020
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Nuku'alofa, Tonga
Government has extended the application due date to May 1 for local registered businesses to apply for assistance, under a COVID-19 Business Economic Emergency Relief Fund.
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Friday 17 April 2020
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Nuku'alofa, Tonga
Additional solar generation and battery storage systems are to be designed and delivered to Vava’u and ‘Eua by mid 2021, assuming there are no long term restrictions due to the CoViD-19 pandemic.
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Thursday 16 April 2020
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Nuku'alofa, Tonga
Petrol, diesel, and kerosene prices have fallen for the second month in a row after the new prices were approved by the Tonga Competent Authority (TCA) effective today, 16 April.
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Wednesday 15 April 2020
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Manila, Philippines
The Asian Development Bank (ADB) increased its response to the novel coronavirus disease pandemic by $13.5 billion, increasing its response package from $6.5 billion to $20 billion on Monday, 13 April.
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Tuesday 14 April 2020
Nuku'alofa, Tonga
Local registered and informal businesses are now able to apply for assistance, under a $16.4 million pa’anga COVID-19 Business Economy Emergency Relief Fund.
Wednesday 8 April 2020
Nuku'alofa, Tonga
Tonga’s commercial banks will close tomorrow, April 9, due to severe Tropical Cyclone Harold, which is expected to close in on Tonga tonight. Meanwhile, the economic downturn is becoming more acute for Tonga due to CoViD-19, states a bank manager.
Thursday 2 April 2020
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Nuku'alofa, Tonga
A $60 million pa'anga economic and social stimulus package to counter the impact of CoViD-19 was announced by the Tongan government today, 2 April. The package will provide short-term financial assistance for all sectors of the Tongan economy. Tonga expects fiscal deficits of $35m 2020 and $54m in 2021.
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Wednesday 1 April 2020
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Geneva, Switzerland
The United Nations is calling for a $2.5 Trillion support package for developing countries to deal with the coronavirus shock. UNCTAD Secretary-General Mukhisa Kituyi said the economic fallout from the shock is ongoing and increasingly difficult to predict but there are clear indications that things will get much worse for developing economies before they get better.
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Wednesday 1 April 2020
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Dubai, United Arab Emirates
The organisers of the Expo 2020 Dubai, UAE, want to postpone the exposition for a year due to the CoViD-19 outbreak, but at least two thirds of the expo member states will have to agree. There are 192 countries involved in the Expo that was due to start in October 2020 and run for six months until April 2021.
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Thursday 26 March 2020
Nuku'alofa, Tonga
Traditional Tongan skincare treatments using extracts from plants, such as tuitui and feta‘u oils, cinnamon, tevunga leaf, touhuni, pipi, and coconut oil, are the inspiration for a new range of botanical skincare products, launched by a local company this month.
Monday 23 March 2020
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Nuku'alofa, Tonga
UPDATED with regulated prices. Tonga's Ministry of Trade warns that price gouging by some businesses in Tonga in the face of the CoViD-19 pandemic will lead to licence cancellations. “The Ministry will be watching businesses in Tongatapu, ‘Eua, Ha‘apai, Vava‘u and the two Niua’s,” they said, responding to public complaints about profiteering off the emergency today.
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Monday 23 March 2020
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Nuku'alofa, Tonga
Many of Tonga's businesses are already facing a cash crunch and looking to scale back their operations, as the impact of the CoViD-19 pandemic bites, the Tonga Chamber of Commerce and Industries (TCCI) stated today. While the National Reserve Bank of Tonga has reassured Tongans that our banking system is strong enough to withstand the impact of CoViD-19, but economic growth will be lower for the year.
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Wednesday 18 March 2020
Washington, USA
A $14 billion COVID-19 response package has been approved by the World Bank and IFC’s Boards of Directors, to fast-track financing to assist companies and countries efforts to prevent, detect and respond to the fast spread of the virus.
Monday 16 March 2020
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Nuku'alofa, Tonga
The price of petrol, kerosene and diesel has fallen while the LPG price increased, starting on March 16.
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Wednesday 4 March 2020
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Nuku'alofa, Tonga
Tonga’s ambitious goal to achieve 50% renewable energy this year has been moved to 2021, confirmed Tonga Power Ltd (TPL) at a stakeholder seminar on 28 February. However, TPL is also exploring a more aggressive plan to try and achieve the target by the end of this year.
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Wednesday 4 March 2020
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Nuku'alofa, Tonga
Mr Semisi Panuve has been appointed as the new Chief Executive Officer for Tonga Cable Limited (TCL) effective from 2 March.
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Tuesday 25 February 2020
Nuku'alofa, Tonga
Tonga’s growth potential is below what it could be. The economy has been growing well below the regional average for the past two decades, says an IMF Staff report released on February 24. Growth is expected to gradually decline “unless there is a concerted effort to remove bottlenecks hampering private sector development.”
Monday 17 February 2020
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Nuku'alofa, Tonga
A total powerstation blackout on Tongatapu for a few hours this morning, was caused by a temporary cooling system failure on the generators.
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