Results for Business

A slight drop in new petroleum prices for petrol, kerosene, and diesel, has been approved by the Tonga Competent Authority effective from today, 16 April. The retail price of petrol, kerosene and diesel has decreased by 0.09 seniti/litre, 5.68 seniti/litre and 2.98 seniti/litre respectively, with all price changes including consumption tax.

Thirteen seasonal program workers were awarded a business certificate of completion today, 29 March, at an awards event to support their long-term business goals in Tonga. The four week ‘Your Enterprise Scheme’ business program, is the first to be piloted in Tonga.

Tonga Power Limited announced on Thursday 15 March that it would not implement any tariff increases until June this year. The decision was made in consultation with Government to help relieve the energy costs in the wake of Cyclone Gita.

Key areas of Tonga’s seabed approaching the harbor of Nuku’alofa, is being mapped by state-of-the-art multibeam sonar equipment chartered by the UK Hydrographic Office (UKHO) to update nautical charts and publications. According to UKHO, accurate and up-to-date charts for safer navigation may boost Tonga's blue economy.

Foreign currency exchange operations by unauthorized dealers has become a major concern for the National Reserve Bank of Tonga, who want to shut down the involvement of retail shops in Tonga offering the services illegally to their customers. They are hoping the public will report illegal activities.

Demand for vehicles in Tonga is continuing to increase, while traffic jams and queues grow longer every month in the capital Nuku'alofa.

Countries in Oceania are ranked among the most expensive broadband services in the world according to a worldwide ranking compiled by a UK survey. Tonga was not ranked among the 13 Oceania countries surveyed due to limited information available.

A two-day Holiday Market Festival opened this morning displaying and selling Tongan crafts and mats from Ha’apai, ‘Eua, Vava’u and Tongatapu at the Tonga Development Bank compound in Nuku’alofa as part of a microfinance scheme to assist and empower vulnerable people.

New financial knowledge and skills have been developed in the Pacific Islands over the last seven years following initiatives by banks to broaden access to financial services for many more people. Ressa Price, the ANZ regional Executive Director for the Pacific, visiting Tonga on November 16, released a report on the the impact of the bank's MoneyMinded program that was launched in 2010 in a number of Pacific Islands countries,