Results for Business

The ownership of the La’a Lahi Solar Farm in Neiafu was today transferred from the Government of Tonga to Tonga Power Ltd., a public enterprise in Nuku’alofa.

Robert Matthews from Australia has been appointed as the new CEO of the Tonga Power Ltd starting in Nuku'alofa on 9 March for the next three-years.

Tonga has signed the International Treaty on Plant Genetic Resources for Food and Agriculture that promotes food security. on 16 March.

The Tanoa Hotel Group from Fiji will take over Tonga's International Dateline Hotel for redevelopment this year, aiming to transform the seafront hotel and reopen as Tanoa Dateline in mid-2017, with a Tongan four star standard.

Although Free Trade Agreements with trading partners provide opportunities for market access for Pacific Islands products, generally businesses in Tonga lack awareness of the rules, says Viliame Rova who facilitated a workshop this week in Nuku'alofa.

A Tonga government review has stated that Tonga has fallen behind in three Millennium Development Goals: poverty eradication, gender equality and non-communicable diseases (NCDs) which are at a “crisis level”.

Tonga's over all Public Debt at the end of January 2015 stood at $392.6 million pa‘anga or 48.4% of its Gross Domestic Product (GDP), according to financial statistics released by the Ministry of Finance this week.

Tonga Power Ltd's multi-million acquisition of Tonga Gas Ltd. was marked today with a reduction in LPG price announced during a ceremony at the Touliki Terminal in Ma’ufanga.

Westpac today, 29 January announced that it has entered into an agreement to sell its banking operations in Samoa, Cook Islands, Solmon Islands, Vanuatu and Tonga to the Bank of South Pacific Ltd BSP for A$125 million.