Results for Business

Tonga Power has announced a reduction in the price of electricity.

Tonga is expanding its tourism industry branding, 'The Kingdom of Tonga, the True South Pacific' to include the marketing of its agricultural produces overseas.

An important review of Tonga's trade policy by the WTO in Geneva, Switzerland, from February 11-13, found that the Pacific island nation faces a backlog of reforms that are required to modernize and streamline its legal and regulatory frameworks for economic development. Tonga's imports continue to outstrip its exports by a factor of at least 10:1 annually and over 50% of its imports are for fuel and food.

The Pacific International Commercial Bank is expected to open its doors in March as the fifth bank in Tonga. The Chinese-Tongan bank venture is aiming to offer interest rate at six-percent.

Tonga Power Limited announced that it has increased electricity tariffs by a fraction of a seniti (0.39 seniti). New electricity tariffs for all Island groups are now 93.21 seniti per kilowatt (up from 92.82 seniti).

Vanilla promises to be a major source of revenue for Vava'u growers and their families, who are being encouraged to recover neglected plantations and plant new vines.

A New Zealand money transfer company, KlickEx, has discounted its services to Tonga in support of Ha‘apai’s cyclone recovery.

Tonga Power Ltd has secured a grant from the Japanese government to fully fund a solar power project in Vaini. The grant of 1,573,000,000 Yen equates to roughly over USD$15.2 Million.

Tonga Power Ltd. paid the Tonga government a dividend of $389,369 pa’anga on Tuesday, 10 December at the Annual General Meeting of the Tonga Power Board, as the first part of a T$1 million dividend for the financial year.