Results for Business

Up to half a million pa’anga of “unclaimed” money held in bank accounts at the Bank of the South Pacific in Nuku’alofa will be swallowed up by the government in June if the amounts are not claimed by the owners soon. Several accounts belonging to the King of Tonga, as well as an Emergency Relief Trust Fund, a private retirement fund, and funds belonging to societies and groups such as the Tonga Society of Accountants, the Sisters of Mercy, the Ferry Princess Ashika Vava’u Victims Fund, the Friendly Island Teachers Association, and numerous PTA accounts, along with those of individuals and a few companies, will be included in a mass transfer of funds if unclaimed.

US$2 million in concessional financing approved by the World Bank on 16 March will support Tonga’s efforts to create "a more inclusive and resilient economy" through policy reform. It is to be funded with US$1 million credit and US$1 million grant, provided through the International Development Association, the World Bank's fund for poorest countries.

A rescue and tourism helicopter service offered to Tonga by Rodger McCutcheon, a New Zealand pilot, has moved to Samoa after Tonga delayed the start of the service earlier this year. Samoa’s Prime Minister, Tuilaepa Luesoliai Sailele Malielegaoi welcomed the new helicopter service and stated, “It is utter nonsense and ridiculous for any government to discard a service of this nature.”

The price of petrol will continue to decrease, while diesel and kerosene will slightly increase from this month to April, starting on Wednesday 16 March.

The Secretary General of the International Telecommunication Union (ITU), Mr Houlin Zhao official launched a new Tonga government portal at the office of the Ministry of Information, this morning, 10 March.

The Tonga Development Bank plans to launch new commercial services this month, including foreign exchange and internet banking, as part of a three year expansion programme that began in 2014.

Celebrating 25 years in business on February 15, the staff and management of ‘Uta’atu & Associates, certified public accountants and management consultants, got together with clients, suppliers and alumni of the firm at the Waves Café on the Nuku’alofa seafront.

Liz Sullivan and her local family-run businesses have expanded into accommodation after purchasing the Waterfront Lodge on the waterfront at Ma’ufanga on 25 January this year, from the former owners GP and Daniela Orbassano.

The price of petrol, diesel and kerosene for Tonga will continue to decrease from this month to February, starting from Monday 18 January.